Shree Vasu Logistics Limited assets reach Rs 302.81 crore

Shree Vasu reported standalone assets of Rs 302.81 crore at September 30, 2026, up Rs 41.36 crore from March 31, 2026, as right-of-use lease assets, property, plant and equipment, trade receivables and other financial assets increased. The unaudited statement also showed higher lease liabilities and borrowings.

Why did Shree Vasu’s assets expand by Rs 41.36 crore?

Shree Vasu’s asset expansion was led by non-current assets, which rose to Rs 216.00 crore at September 30, 2026, from Rs 192.65 crore at March 31, 2026. Right-of-use lease assets were the largest non-current category at Rs 106.57 crore, up from Rs 97.20 crore, while property, plant and equipment increased to Rs 78.30 crore from Rs 70.29 crore.

Capital work-in-progress increased to Rs 7.60 crore from Rs 2.47 crore over the same period, adding to the rise in property-related assets. Other financial assets rose to Rs 17.13 crore from Rs 15.87 crore, and deferred tax assets increased to Rs 5.76 crore from Rs 4.83 crore. Other non-current assets fell to nil from Rs 0.61 crore.

Current assets increased to Rs 86.81 crore from Rs 68.80 crore. Trade receivables were Rs 47.46 crore at September 30, compared with Rs 38.71 crore at March 31, while other financial assets rose to Rs 15.13 crore from Rs 11.62 crore. Inventories also increased to Rs 5.16 crore from Rs 4.37 crore.

How did Shree Vasu’s lease obligations and borrowings change?

Shree Vasu’s combined current and non-current lease liabilities were Rs 116.95 crore at September 30, 2026, compared with Rs 107.70 crore at March 31, 2026. Non-current lease liabilities rose to Rs 91.62 crore from Rs 83.99 crore, while current lease liabilities increased to Rs 25.33 crore from Rs 23.71 crore.

Combined borrowings rose to Rs 104.84 crore from Rs 95.42 crore. Non-current borrowings were Rs 67.53 crore at September 30, versus Rs 63.70 crore at the March year-end, and current borrowings increased to Rs 37.31 crore from Rs 31.72 crore.

Shree Vasu’s non-current liabilities rose to Rs 167.54 crore from Rs 152.13 crore. Other non-current financial liabilities increased to Rs 6.48 crore from Rs 3.10 crore, while non-current provisions rose to Rs 1.92 crore from Rs 1.34 crore. Current liabilities totalled Rs 87.03 crore at September 30, 2026.

What happened to Shree Vasu’s working-capital balances?

Shree Vasu’s trade receivables increased by Rs 8.75 crore to Rs 47.46 crore in the six months to September 30, 2026. The cash-flow statement recorded a Rs 8.74 crore increase in trade receivables as a working-capital use during the half year, compared with a Rs 6.67 crore increase in the corresponding half of 2025.

Trade payables rose to Rs 16.33 crore at September 30 from Rs 4.22 crore at March 31. Dues to creditors other than micro and small enterprises increased to Rs 12.45 crore from Rs 4.14 crore, while dues to micro and small enterprises rose to Rs 3.88 crore from Rs 0.08 crore. The cash-flow statement showed a Rs 12.11 crore increase in trade payables during the half year.

Cash and cash equivalents were Rs 1.14 crore at September 30, 2026, compared with Rs 0.86 crore at March 31. Bank balances other than cash equivalents were Rs 1.74 crore, compared with Rs 1.77 crore, while current tax assets rose to Rs 2.55 crore from Rs 2.15 crore. Assets held for sale were Rs 3.07 crore, against nil at the March year-end.

Which Shree Vasu segment held most assets?

Shree Vasu’s 3PL business held Rs 281.71 crore of segment assets at September 30, 2026, compared with Rs 243.05 crore at March 31. Its segment liabilities rose to Rs 244.21 crore from Rs 212.15 crore, accounting for most of the company’s Rs 302.81 crore standalone asset base and Rs 254.57 crore liabilities.

The retail trading business reported segment assets of Rs 12.79 crore at September 30, up from Rs 11.41 crore at March 31, and segment liabilities of Rs 10.36 crore, up from Rs 9.43 crore. Unallocated assets were Rs 8.30 crore, compared with Rs 6.98 crore at the preceding year-end.

The 3PL business recorded Rs 135.39 crore of revenue in the half year ended September 30, 2026, versus Rs 97.30 crore a year earlier. Retail trading revenue was Rs 9.59 crore, versus Rs 8.41 crore. Total revenue from operations rose to Rs 144.98 crore from Rs 105.72 crore, while profit before tax increased to Rs 10.51 crore from Rs 3.91 crore.

How did cash flows relate to Shree Vasu’s asset additions?

Shree Vasu generated Rs 30.27 crore of net cash from operating activities in the half year ended September 30, 2026, compared with Rs 15.64 crore in the corresponding 2025 period. Operating profit before working-capital changes was Rs 38.78 crore, versus Rs 26.65 crore, before increases in receivables, inventories and other financial assets affected cash flows.

Investing activities used Rs 17.11 crore in the 2026 half year, compared with Rs 20.35 crore a year earlier. Purchases of property, plant and equipment, including intangible assets and capital work-in-progress and net of capital creditors, used Rs 17.20 crore, versus Rs 12.01 crore in the prior-year half. This outflow occurred alongside the increase in property, plant and equipment and capital work-in-progress on the September balance sheet.

Financing activities used Rs 12.89 crore in the 2026 half year, compared with cash generated of Rs 4.78 crore in the prior-year period. Shree Vasu reported Rs 18.15 crore of principal and interest payments on lease liabilities, while proceeds from or repayment of long-term borrowings added Rs 3.83 crore and short-term borrowings added Rs 5.59 crore.

Conclusion

Shree Vasu’s September 2026 standalone balance sheet shows a Rs 41.36 crore increase in assets from March, concentrated in Rs 106.57 crore of right-of-use lease assets, Rs 78.30 crore of property, plant and equipment and Rs 47.46 crore of trade receivables. The increase was accompanied by higher lease liabilities, borrowings and trade payables, while equity rose to Rs 48.23 crore from Rs 39.87 crore.

The statement does not disclose the timing or nature of a sale relating to the Rs 3.07 crore of assets held for sale at September 30, 2026. Subsequent financial statements can show whether that balance, capital work-in-progress of Rs 7.60 crore, receivables of Rs 47.46 crore and lease liabilities of Rs 116.95 crore change further.