Savita Oil Technologies operating cash flow rises to Rs 217.53 crore

Savita Oil Technologies Limited generated Rs 217.53 crore of net cash from operating activities in the half year ended 30 September 2026, compared with Rs 92.57 crore a year earlier. Higher operating profit supported the increase, although trade receivables and inventories together absorbed Rs 493.05 crore and cash equivalents declined by Rs 20.00 crore.

Why did Savita Oil Technologies' operating cash flow rise?

Savita Oil Technologies' net operating cash flow rose to Rs 217.53 crore in the half year ended 30 September 2026 from Rs 92.57 crore in the corresponding 2025 period. Operating profit before working-capital changes increased to Rs 666.80 crore from Rs 118.42 crore, following a rise in standalone profit before tax to Rs 677.86 crore from Rs 133.84 crore.

The reconciliation from profit before tax included Rs 12.14 crore of depreciation and amortisation and Rs 10.71 crore of finance costs. It also included deductions for a Rs 45.13 crore gain or diminution in the value of non-current investments, Rs 7.86 crore of interest income from investing activities and a Rs 4.35 crore gain or diminution in current investments.

Cash generated from operations reached Rs 315.00 crore, compared with Rs 116.32 crore in the previous first half. Net interest received within operating activities was Rs 0.18 crore, while income tax paid, net of refunds, rose to Rs 97.65 crore from Rs 24.31 crore, reducing the cash retained from operations.

How much cash did working capital absorb at Savita Oil Technologies?

Savita Oil Technologies' trade receivables and inventories absorbed Rs 493.05 crore in the first half of 2026. Trade receivables used Rs 268.79 crore of cash and inventories used Rs 224.26 crore, compared with Rs 4.97 crore and Rs 82.33 crore, respectively, in the first half of 2025.

The standalone balance sheet recorded trade receivables of Rs 1,183.56 crore at 30 September 2026, up from Rs 914.36 crore at 31 March 2026. Inventories rose to Rs 1,108.58 crore from Rs 884.32 crore over the same dates. The filing does not provide an operational explanation for either increase.

Trade payables added Rs 120.35 crore of cash during the half year, while other current liabilities added Rs 27.32 crore and long-term provisions added Rs 0.65 crore. These inflows were partly offset by Rs 4.29 crore used in short-term loans and advances and Rs 3.52 crore used in short-term provisions.

Which segment drove Savita Oil Technologies' higher profit?

Savita Oil Technologies' Petroleum Products segment generated Rs 658.08 crore of profit before finance costs in the half year ended 30 September 2026, versus Rs 104.91 crore in the prior-year period. Wind Power generated Rs 16.93 crore, compared with Rs 16.02 crore, leaving Petroleum Products responsible for most of the increase in segment profit.

Petroleum Products revenue rose to Rs 3,176.56 crore from Rs 2,045.19 crore, while Wind Power revenue edged up to Rs 24.86 crore from Rs 24.43 crore. Total standalone income increased to Rs 3,232.08 crore from Rs 2,108.88 crore, alongside the increase in standalone profit before tax to Rs 677.86 crore.

Petroleum Products segment assets were Rs 2,676.17 crore at 30 September 2026, compared with Rs 2,198.70 crore at 31 March 2026. Wind Power segment assets increased to Rs 50.48 crore from Rs 41.79 crore, but the disclosure does not assign the receivables, inventory or cash-flow movements to individual segments.

How did investment and financing outflows affect Savita Oil Technologies' cash?

Savita Oil Technologies used Rs 191.54 crore in investing activities and Rs 45.99 crore in financing activities in the first half of 2026. Together, those outflows exceeded the Rs 217.53 crore operating inflow, producing a Rs 20.00 crore decrease in cash and cash equivalents before a Rs 0.08 crore adverse exchange movement.

Purchases of current investments consumed Rs 1,106.50 crore, while sales of current investments generated Rs 922.58 crore. Additions to property, plant and equipment, investment property and capital work-in-progress totalled Rs 12.59 crore, compared with Rs 13.80 crore in the first half of 2025.

Financing outflows included Rs 31.25 crore of dividends paid, Rs 10.54 crore of interest paid, Rs 3.70 crore from the net increase in earmarked bank balances and Rs 0.51 crore of lease-principal payments. Net financing cash used was Rs 45.99 crore, compared with Rs 37.13 crore in the corresponding prior-year half, when the cash-flow statement recorded no dividend payment.

What balance-sheet movements should readers track at Savita Oil Technologies?

Savita Oil Technologies' total standalone assets rose to Rs 3,430.81 crore at 30 September 2026 from Rs 2,738.53 crore at 31 March 2026. Current investments increased to Rs 358.32 crore from Rs 167.79 crore, property, plant and equipment rose to Rs 212.76 crore from Rs 193.49 crore, and capital work-in-progress declined to Rs 5.89 crore from Rs 24.40 crore.

Other equity increased to Rs 2,301.24 crore from Rs 1,827.31 crore, while trade payables to creditors other than micro and small enterprises rose to Rs 878.61 crore from Rs 741.62 crore. Current tax liabilities increased to Rs 77.20 crore from Rs 9.00 crore. The standalone balance sheet shows no amount under either current or non-current borrowings at 30 September 2026.

The 30 September 2026 standalone results and cash-flow statement were unaudited and approved by Savita Oil Technologies' board on 3 November 2026. G. D. Apte & Co performed a limited review and reported that nothing had come to its attention indicating a material misstatement in the standalone financial results.

Conclusion

Savita Oil Technologies converted a higher first-half profit base into Rs 217.53 crore of operating cash, up from Rs 92.57 crore a year earlier. However, the Rs 493.05 crore combined cash absorption from receivables and inventories, followed by investing and financing outflows of Rs 191.54 crore and Rs 45.99 crore, reduced cash and cash equivalents to Rs 110.53 crore.

Readers should watch subsequent cash-flow disclosures for movements in receivables of Rs 1,183.56 crore and inventories of Rs 1,108.58 crore at 30 September 2026. Savita Oil Technologies has also filed an application with the National Company Law Tribunal, Mumbai Bench, for amalgamation with its wholly owned subsidiary, Savita Greentec Limited, although the filing gives no decision date or outcome.