Shankara Buildpro posts Rs 30 crore operating cash in H1

Shankara Buildpro Limited generated Rs 30.00 crore of net operating cash flow in the half year ended September 30, 2026, reversing a Rs 19.84 crore outflow a year earlier. The improvement came despite Rs 101.59 crore absorbed by inventory and Rs 111.67 crore by trade receivables, while trade payables increased Rs 179.70 crore.

How did Shankara Buildpro’s operating cash flow change?

Shankara Buildpro moved to a Rs 30.00 crore net cash inflow from operating activities for the half year ended September 30, 2026, compared with a Rs 19.84 crore outflow in the corresponding 2025 period. Cash generated from operations before tax was Rs 55.79 crore, against cash used in operations of Rs 10.51 crore a year earlier, and income taxes paid were Rs 25.79 crore versus Rs 9.33 crore.

The movement reflected a larger operating-profit base before working-capital changes. That measure was Rs 140.06 crore in the half year ended September 30, 2026, up from Rs 65.89 crore in the half year ended September 30, 2025. Consolidated profit before tax increased to Rs 109.89 crore from Rs 80.72 crore, while depreciation and amortisation rose to Rs 6.83 crore from Rs 3.96 crore and interest expense on borrowings increased to Rs 22.21 crore from Rs 18.57 crore.

The cash-flow result was reported in Shankara Buildpro’s unaudited consolidated statement for the period ended September 30, 2026, approved by the board on November 5, 2026. The reported operating inflow did not result solely from earnings: movements in inventories, receivables, other current assets and payables collectively determined how much of the Rs 140.06 crore pre-working-capital operating profit converted into cash.

What working-capital movements affected Shankara Buildpro’s cash flow?

Shankara Buildpro’s working-capital requirements expanded during the half year, with inventory consuming Rs 101.59 crore of cash and trade receivables consuming Rs 111.67 crore. These outflows exceeded their respective 2025-period amounts of Rs 32.56 crore and Rs 108.92 crore. Other current assets absorbed a further Rs 44.98 crore, compared with Rs 17.80 crore in the prior-year period.

The principal offset was a Rs 179.70 crore increase in trade payables, compared with a Rs 77.10 crore increase a year earlier. Loans and other financial assets supplied Rs 38 lakh, other financial liabilities added Rs 1.20 crore, and other current liabilities used Rs 3.98 crore. Provisions also reduced cash by Rs 3.32 crore, whereas the prior-year figure was nil.

The balance sheet shows the same expansion over the six months from March 31, 2026. Consolidated inventories rose to Rs 582.56 crore at September 30 from Rs 480.97 crore, an increase of Rs 101.59 crore. Trade receivables increased to Rs 1,053.79 crore from Rs 942.48 crore, while other current assets rose to Rs 99.19 crore from Rs 53.65 crore.

Trade payables to creditors other than micro and small enterprises rose to Rs 1,117.77 crore at September 30 from Rs 948.27 crore at March 31. Dues to micro and small enterprises also increased to Rs 14.82 crore from Rs 4.61 crore. Current borrowings increased by Rs 17.11 crore to Rs 77.92 crore, while the cash-flow statement recorded Rs 17.11 crore of current borrowings availed during the period.

Did higher revenue and profit support Shankara Buildpro’s cash generation?

Yes, Shankara Buildpro reported higher half-year revenue and profit, which increased operating profit before working-capital changes to Rs 140.06 crore. Revenue from operations for the half year ended September 30, 2026 was Rs 4,170.17 crore, compared with Rs 3,163.16 crore in the half year ended September 30, 2025. Profit before tax rose by Rs 29.17 crore to Rs 109.89 crore over the same comparison.

Profit for the period was Rs 81.97 crore, up from Rs 61.46 crore a year earlier. Total expenses rose to Rs 4,060.53 crore from Rs 3,083.00 crore alongside the increase in revenue. Purchases of stock-in-trade were Rs 4,058.36 crore, compared with Rs 3,030.07 crore, while finance costs increased to Rs 22.21 crore from Rs 18.65 crore.

The quarter ended September 30, 2026 accounted for Rs 2,280.38 crore of half-year revenue, versus Rs 1,889.79 crore in the quarter ended June 30, 2026 and Rs 1,595.02 crore in the quarter ended September 30, 2025. Quarterly profit for the period was Rs 46.19 crore, compared with Rs 35.78 crore in the preceding quarter and Rs 29.39 crore a year earlier. These reported results provide the earnings base from which cash flow began before balance-sheet changes.

However, the operating cash result remained below the half-year profit figure because the increase in current assets absorbed cash. Inventory, receivables and other current assets together used Rs 258.24 crore, while trade payables alone provided Rs 179.70 crore. The filing therefore shows that higher reported revenue was accompanied by larger balances held in stock and amounts due from customers.

What happened to Shankara Buildpro’s total cash and financing flows?

Shankara Buildpro’s cash and cash equivalents increased by Rs 6.08 crore during the half year to Rs 68.91 crore at September 30, 2026, from Rs 62.83 crore at the beginning of the financial year. The Rs 30.00 crore operating inflow was partly used for Rs 7.09 crore of investing outflow and Rs 16.83 crore of financing outflow.

Investing cash outflow rose to Rs 7.09 crore from Rs 5.21 crore in the prior-year half. Shankara Buildpro spent Rs 7.97 crore on property, plant and equipment, including capital work-in-progress and capital advances, compared with Rs 3.87 crore a year earlier. It also received Rs 52 lakh from property, plant and equipment sales and Rs 40 lakh from maturity of bank deposits.

Financing activities used Rs 16.83 crore, compared with a Rs 13.47 crore cash inflow in the half year ended September 30, 2025. Current borrowings availed were Rs 17.11 crore, lower than Rs 38.68 crore a year before, while interest paid was Rs 21.92 crore and dividends paid were Rs 12.02 crore. The prior-year financing cash flow also included Rs 6.09 crore of term-loan repayment.

Cash on hand was Rs 88 lakh and bank balances were Rs 68.03 crore at September 30, 2026, according to the consolidated cash-flow statement. Separately, the balance sheet reported Rs 1.11 crore of bank balances other than cash and cash equivalents. Total consolidated assets increased to Rs 1,870.36 crore at September 30 from Rs 1,605.20 crore at March 31.

Conclusion

Shankara Buildpro converted its half-year operations into a Rs 30.00 crore cash inflow after a Rs 19.84 crore outflow a year earlier, supported by a Rs 74.17 crore increase in operating profit before working-capital changes. At the same time, Rs 101.59 crore of additional inventory and Rs 111.67 crore of additional receivables absorbed cash, with a Rs 179.70 crore increase in trade payables providing the main offset.

The filing does not disclose a future cash-flow target, working-capital plan or scheduled next reporting event. Subsequent disclosures will show whether the September 30 balances of Rs 582.56 crore in inventory, Rs 1,053.79 crore in receivables and Rs 1,117.77 crore in trade payables to creditors other than micro and small enterprises change alongside operating cash flow and current borrowings.