Vani Commercials loans hit Rs 76.12 crore as liabilities shift

Vani Commercials Limited reported consolidated loans of Rs 76.12 crore at September 30, 2026, up Rs 22.30 crore from March 31, 2026, while other non-financial liabilities rose to Rs 41.01 crore from Rs 1.16 crore. Loans accounted for Rs 76.12 crore of total consolidated assets of Rs 80.65 crore at the half-year date.

What changed in Vani Commercials’ consolidated assets?

Vani Commercials’ consolidated assets increased to Rs 80.65 crore at September 30, 2026 from Rs 58.56 crore at March 31, 2026, with the movement concentrated in loans. Loans increased to Rs 76.12 crore from Rs 53.82 crore over the six-month period, a rise of Rs 22.30 crore, and were above Rs 48.87 crore reported at September 30, 2025.

Loans represented about 94% of the Rs 80.65 crore total assets at September 30, 2026, based on the reported balance-sheet amounts. Financial assets rose to Rs 80.08 crore from Rs 57.93 crore at March 31, 2026, whereas non-financial assets declined to Rs 57 lakh from Rs 64 lakh.

Cash and cash equivalents were Rs 30 lakh at September 30, 2026, compared with Rs 53 lakh at March 31, 2026. The balance sheet also showed Rs 17 lakh of bank balances other than cash and cash equivalents, Rs 2.98 crore of other investments and Rs 51 lakh of other financial assets; investment property and property, plant and equipment were Rs 36 lakh, versus Rs 42 lakh at the March year-end.

How did Vani Commercials’ liabilities and equity change?

Vani Commercials’ other non-financial liabilities increased to Rs 41.01 crore at September 30, 2026 from Rs 1.16 crore at March 31, 2026. The Rs 39.85 crore half-year increase also took that line above the Rs 2.13 crore reported at September 30, 2025.

Total non-financial liabilities were Rs 41.65 crore at September 30, 2026, compared with Rs 1.44 crore at March 31, 2026. Current tax liabilities were Rs 64 lakh, against Rs 27 lakh at the year-end, while the filing did not provide a further breakdown of the Rs 41.01 crore other non-financial-liability balance.

Financial liabilities declined to Rs 3.06 crore at September 30, 2026 from Rs 21.68 crore at March 31, 2026. The September subtotal comprised Rs 12 lakh of trade payables and Rs 2.93 crore of other financial liabilities, compared with a Rs 21.68 crore financial-liability subtotal six months earlier.

Equity was Rs 35.95 crore at September 30, 2026, compared with Rs 35.45 crore at March 31, 2026. Equity share capital remained Rs 29.41 crore, securities premium was Rs 5.06 crore versus Rs 6.04 crore at March 31, and other equity was Rs 1.48 crore; total liabilities and equity matched total assets at Rs 80.65 crore.

Which balance-sheet movements appeared in Vani Commercials’ cash flow?

Vani Commercials’ consolidated cash-flow statement recorded a Rs 22.29 crore increase in loans and a Rs 39.84 crore increase in non-financial liabilities in the half year ended September 30, 2026. Both were included in the working-capital adjustments shown in the operating cash-flow statement.

Net cash used in operating activities was Rs 79 lakh for the half year ended September 30, 2026, while profit before tax was Rs 50 lakh and depreciation and amortisation expense was Rs 7 lakh. The cash-flow statement also listed a Rs 4 lakh movement in other investments, a Rs 36 lakh movement in provisions and a Rs 22 lakh movement in other financial assets.

The cash-flow statement reported a net decrease of Rs 22 lakh in cash and cash equivalents during the half year, and the balance sheet reported closing cash and cash equivalents of Rs 30 lakh at September 30, 2026. In its separate debt-default disclosure, Vani Commercials reported Rs 0 outstanding for bank and financial-institution loan facilities, Rs 0 unlisted debt securities and Rs 0 total financial indebtedness as of the disclosure date.

How does Vani Commercials’ September balance sheet compare with a year earlier?

Vani Commercials’ loans of Rs 76.12 crore at September 30, 2026 were Rs 27.25 crore higher than the Rs 48.87 crore reported a year earlier. Total assets rose by Rs 26.87 crore from Rs 53.78 crore, while financial assets increased by Rs 27.08 crore to Rs 80.08 crore.

The liability composition also differed materially from September 30, 2025. Other non-financial liabilities increased from Rs 2.13 crore to Rs 41.01 crore, while financial liabilities fell from Rs 37.41 crore to Rs 3.06 crore; equity rose from Rs 14.12 crore to Rs 35.95 crore, including equity share capital of Rs 29.41 crore versus Rs 11.74 crore.

For the half year ended September 30, 2026, Vani Commercials reported total income of Rs 3.37 crore and profit before tax of Rs 50 lakh, compared with Rs 3.13 crore and Rs 36 lakh, respectively, in the half year ended September 30, 2025. Profit for the period was Rs 50 lakh compared with Rs 36 lakh, while basic earnings per share were Rs 0.17 against Rs 0.31.

Conclusion

Vani Commercials’ consolidated balance sheet expanded from both March 2026 and September 2025, principally through the increase in loans to Rs 76.12 crore. At the same time, the reported composition of obligations changed, with other non-financial liabilities reaching Rs 41.01 crore as financial liabilities declined to Rs 3.06 crore and equity stood at Rs 35.95 crore.

The next financial results will show whether loans remain near the September 2026 level and whether the Rs 41.01 crore other non-financial-liability balance changes. The filing does not itemise that liability line; the unaudited consolidated half-year results and balance sheet were reviewed by the Audit Committee and approved by the Board on November 14, 2026.