Sotefin Bharat cash balance rises to Rs 55.46 crore after IPO

Sotefin Bharat Limited reported cash and bank balances of Rs 55.46 crore at September 30, 2026, up from Rs 75.69 lakh at March 31, 2026, after a Rs 89.76 crore share-capital issue during the half year. Sotefin Bharat’s shareholders’ funds rose to Rs 171.22 crore, while short-term borrowings fell to Rs 1.05 crore.

Why did Sotefin Bharat’s cash balance rise to Rs 55.46 crore?

Sotefin Bharat’s cash and bank balance rose principally because financing activities generated Rs 64.74 crore in the half year ended September 30, 2026, including Rs 89.76 crore of proceeds from issuing share capital. The balance-sheet cash and bank line increased by Rs 54.70 crore from Rs 75.69 lakh six months earlier.

Sotefin Bharat completed an initial public offer, or IPO, of 48 lakh fresh equity shares with a face value of Rs 10 each and securities premium of Rs 177 per share. Its equity shares were listed on the BSE SME Exchange on July 23, 2026. The company reported Rs 51.12 crore of unutilised IPO proceeds at September 30, comprising Rs 49.50 crore in fixed deposits and Rs 1.62 crore in a bank account.

The cash-flow statement recorded closing cash and cash equivalents of Rs 54.09 crore, compared with the Rs 55.46 crore cash and bank balance in the balance sheet. The cash-equivalent figure included Rs 49.50 crore of bank deposits maturing within three months, Rs 4.58 crore of bank balances and Rs 5.40 lakh of cash on hand.

How did Sotefin Bharat’s funding and borrowings change after the IPO?

Sotefin Bharat’s shareholders’ funds increased to Rs 171.22 crore at September 30, 2026 from Rs 83.93 crore at March 31, 2026, a rise of Rs 87.29 crore. Share capital rose by Rs 4.80 crore to Rs 18.16 crore, while reserves and surplus increased by Rs 82.50 crore to Rs 153.06 crore.

The company said it incurred Rs 10.29 crore of IPO-related expenses, adjusted against securities premium. Separately, the cash-flow statement recorded Rs 9.11 crore of IPO expenses during the September 2026 half year. The filing does not provide a reconciliation between the IPO expenses adjusted against securities premium and the amount in the cash-flow statement.

Sotefin Bharat’s short-term borrowings declined by Rs 18.97 crore to Rs 1.05 crore, while long-term borrowings increased by Rs 3.70 crore to Rs 7.69 crore. Its cash-flow statement showed a net Rs 18.83 crore repayment of short-term borrowings, alongside Rs 4.27 crore of long-term borrowing proceeds and Rs 71.12 lakh of long-term debt repayments.

Current liabilities decreased by Rs 19.74 crore over the six months, including a decline in short-term provisions to Rs 2.69 crore from Rs 4.86 crore. Trade payables due to micro and small enterprises fell to Rs 4.76 crore from Rs 5.27 crore, while dues to creditors other than micro and small enterprises declined to Rs 3.93 crore from Rs 4.47 crore.

Which Sotefin Bharat assets increased during the half year?

Sotefin Bharat’s total assets increased to Rs 200.34 crore at September 30, 2026 from Rs 129.06 crore at March 31, 2026, led by the Rs 54.70 crore increase in cash and bank balances. Current assets rose to Rs 159.05 crore from Rs 92.06 crore, while non-current assets increased to Rs 41.28 crore from Rs 37.01 crore.

Trade receivables increased by Rs 7.39 crore to Rs 82.52 crore, and inventories rose by Rs 1.95 crore to Rs 11.08 crore. Other current assets also increased by Rs 2.95 crore to Rs 10.00 crore. These balance-sheet movements occurred alongside a net operating cash outflow of Rs 2.83 crore, despite profit after tax of Rs 7.85 crore.

Tangible property, plant and equipment increased by Rs 6.19 crore to Rs 38.05 crore. The cash-flow statement recorded purchases of property, plant and equipment of Rs 7.38 crore during the September 2026 half year, compared with Rs 7.42 crore in the half year ended September 30, 2025.

Capital work in progress fell to Rs 44.07 lakh from Rs 2.36 crore, while intangible assets under development increased to Rs 66.26 lakh from Rs 32.49 lakh. Sotefin Bharat said its activities predominantly fall within a single primary segment, manufacturing and installation of automated parking solutions.

What do Sotefin Bharat’s cash flow and profit figures show?

Sotefin Bharat reported revenue from operations of Rs 43.26 crore for the half year ended September 30, 2026, compared with Rs 37.04 crore in the corresponding 2025 half year. Profit after tax increased to Rs 7.85 crore from Rs 5.01 crore, and basic and diluted earnings per equity share rose to Rs 5.17 from Rs 3.94.

Net cash flow from operating activities was negative at Rs 2.83 crore, compared with a negative Rs 1.70 crore in the year-earlier half year. Operating profit before working-capital changes was Rs 11.14 crore, but receivables increased by Rs 7.42 crore, inventory rose by Rs 1.95 crore and income-tax payments totalled Rs 3.89 crore.

Investing activities used Rs 7.92 crore in the September 2026 half year, broadly unchanged from an outflow of Rs 7.80 crore in the corresponding 2025 period. This included Rs 7.38 crore of property, plant and equipment purchases, Rs 33.77 lakh added to intangible assets under development and Rs 20.17 lakh of fixed deposits made.

Finance costs declined to Rs 61.31 lakh from Rs 1.00 crore in the year-earlier half year, while depreciation and amortisation increased to Rs 1.69 crore from Rs 71.89 lakh. The auditor said the September 2025 comparative financial information was management-certified and had not been subjected to limited review.

Conclusion

Sotefin Bharat’s September 2026 balance sheet shows a changed funding structure following its July 2026 listing. The Rs 89.76 crore share-capital issue lifted cash and bank balances to Rs 55.46 crore, increased shareholders’ funds by Rs 87.29 crore and reduced short-term borrowings by Rs 18.97 crore, while receivables and inventory also increased.

The key unresolved balance-sheet item is the deployment of Rs 51.12 crore of IPO proceeds that remained unutilised at September 30, 2026. Future disclosures can also show whether receivables of Rs 82.52 crore and inventory of Rs 11.08 crore convert into operating cash flow after the Rs 2.83 crore outflow reported for the half year.