Shree Ganesh Elastoplast reports Rs 125.76 lakh half-year PBT

Shree Ganesh Elastoplast Limited reported Rs 125.76 lakh of profit before tax for the half-year ended September 30, 2026, reversing a Rs 49.18 lakh loss in the corresponding prior-year period; its cash-flow statement recorded Rs 7.88 lakh of net operating cash used. The unaudited standalone results were filed on November 5, 2026.

What was Shree Ganesh Elastoplast's half-year profit before tax?

Shree Ganesh Elastoplast reported profit before tax of Rs 125.76 lakh for the half-year ended September 30, 2026, compared with a loss before tax of Rs 49.18 lakh in the corresponding prior-year half-year. The pre-tax result therefore changed by Rs 174.94 lakh between the two six-month periods.

The results statement also recorded Rs 125.76 lakh as profit before exceptional items and tax for the September 2026 half-year, and did not separately report an exceptional item. For the September 2026 quarter, Shree Ganesh Elastoplast reported profit before tax of Rs 98.85 lakh, meaning the first quarter contributed the balance of the half-year pre-tax result.

The extracted results statement does not show an amount for current tax or deferred tax for the half-year ended September 30, 2026. Shree Ganesh Elastoplast therefore disclosed Rs 125.76 lakh as a pre-tax figure, while the cash-flow statement used that same amount as the starting point for its operating-cash-flow reconciliation.

The board adopted the results on November 5, 2026 after review by its audit committee on the same date. Shree Ganesh Elastoplast said it operates in one segment, so the filing does not provide revenue, profit or asset figures by business segment.

Why was Shree Ganesh Elastoplast's operating cash flow negative?

Shree Ganesh Elastoplast used Rs 7.88 lakh of cash in operating activities during the half-year ended September 30, 2026, despite reporting Rs 125.76 lakh of profit before tax. The operating cash outflow narrowed from Rs 59.05 lakh in the corresponding prior-year half-year, a reduction of Rs 51.17 lakh.

The principal cash use was a Rs 237.51 lakh increase in inventories during the September 2026 half-year. That movement exceeded the Rs 128.80 lakh operating profit before working-capital changes and was the main disclosed reason that profit did not translate into positive operating cash flow.

Trade and other receivables generated Rs 61.04 lakh of cash in the September 2026 half-year, compared with a Rs 174.82 lakh use of cash in the prior-year period. Other current assets generated Rs 14.80 lakh, while short-term borrowings decreased by Rs 8.52 lakh and trade payables increased by Rs 20.42 lakh in the cash-flow reconciliation.

Shree Ganesh Elastoplast reported Rs 1.79 lakh of net cash from investing activities and Rs 4.78 lakh of net cash from financing activities in the September 2026 half-year. Combined with the Rs 7.88 lakh operating outflow, these movements produced a Rs 1.31 lakh decrease in cash and cash equivalents, from Rs 29.87 lakh at the opening of the period to Rs 28.56 lakh at September 30, 2026.

What changed in Shree Ganesh Elastoplast's balance sheet?

Shree Ganesh Elastoplast reported total assets of Rs 596.22 lakh at September 30, 2026, compared with Rs 439.83 lakh at March 31, 2026. The Rs 156.39 lakh increase was chiefly associated with inventories, which rose to Rs 281.65 lakh from Rs 44.14 lakh.

Trade receivables fell to Rs 136.39 lakh at September 30, 2026 from Rs 197.43 lakh at March 31, 2026. Cash and cash equivalents declined to Rs 28.56 lakh from Rs 29.87 lakh, in line with the Rs 1.31 lakh net decrease reported in the half-year cash-flow statement.

Equity share capital was unchanged at Rs 550.20 lakh at both September 30, 2026 and March 31, 2026. Other equity improved to a negative Rs 68.28 lakh from a negative Rs 194.19 lakh, a Rs 125.91 lakh movement; the filing does not separately reconcile this change.

Non-current borrowings stood at Rs 59.89 lakh at September 30, 2026, compared with Rs 54.41 lakh at March 31, 2026. Current borrowings declined to Rs 8.41 lakh from Rs 16.94 lakh, while trade payables increased to Rs 30.28 lakh from Rs 9.86 lakh over the same balance-sheet dates.

What did the auditor say about Shree Ganesh Elastoplast's results?

Shree Ganesh Elastoplast's auditor, S D P M & Co., said on November 5, 2026 that nothing had come to its attention indicating that the September 2026 standalone financial statement contained a material misstatement or omitted required disclosures. The conclusion covered the quarter and half-year ended September 30, 2026.

The review was performed under Standard on Review Engagement 2410, which the report describes as involving inquiries and analytical procedures and providing moderate assurance rather than an audit opinion. The financial statements were prepared under Indian Accounting Standard 34, or Ind AS 34, for interim financial reporting.

Shree Ganesh Elastoplast filed the results under Regulation 33 of the Securities and Exchange Board of India listing regulations. The filing states that the board meeting on November 5, 2026 started at 5:00 pm and concluded at 5:30 pm.

Conclusion

Shree Ganesh Elastoplast moved from a Rs 49.18 lakh pre-tax loss to Rs 125.76 lakh of pre-tax profit in the half-year ended September 30, 2026, while operating cash flow remained negative at Rs 7.88 lakh. The difference reflected a Rs 237.51 lakh inventory build-up, even as trade receivables declined to Rs 136.39 lakh.

What to watch next is whether the Rs 281.65 lakh inventory balance at September 30, 2026 converts into cash and whether the operating cash outflow changes in a subsequent filing. The next reported balance sheet can also show whether current borrowings, at Rs 8.41 lakh, and trade payables, at Rs 30.28 lakh, continue to move in opposite directions.