Vertoz receivables reach Rs 116.25 crore as cash falls

Vertoz Limited reported consolidated trade receivables of Rs 116.25 crore at September 30, 2026, up from Rs 81.60 crore at March 31, 2026, while cash and cash equivalents fell to Rs 5.19 crore from Rs 8.41 crore. The six-month movement came alongside higher current borrowings and revenue growth.

How much did Vertoz’s receivables increase?

Vertoz’s consolidated trade receivables increased by Rs 34.66 crore over the six months ended September 30, 2026. The balance reached Rs 116.25 crore at September 30 from Rs 81.60 crore at March 31, and the consolidated cash-flow statement records the receivables movement as a Rs 34.66 crore use of cash.

The receivables balance was the largest disclosed current financial asset in the September 30 balance sheet. It was more than twice the Rs 51.93 crore cash and cash-equivalents line before conversion to crore units, and exceeded the Rs 70.42 crore trade-payables balance due to other parties by Rs 45.83 crore.

The filing does not provide a receivables ageing schedule, customer concentration data, credit terms or a split between domestic and overseas balances. Vertoz therefore disclosed the aggregate receivables position of Rs 116.25 crore, but did not explain in this announcement when individual receivables fall due or whether specific customers account for the increase.

Did revenue growth coincide with the receivables build-up?

Yes. Vertoz reported revenue from operations of Rs 165.55 crore for the half year ended September 30, 2026, compared with Rs 142.75 crore for the half year ended September 30, 2025. That Rs 22.79 crore year-on-year increase was reported during the same six months in which receivables rose by Rs 34.66 crore from the March 31 closing balance.

Quarterly revenue also increased sequentially. Revenue from operations was Rs 83.91 crore in the quarter ended September 30, 2026, against Rs 81.64 crore in the quarter ended June 30, 2026, while the September-quarter figure was above Rs 72.26 crore in the quarter ended September 30, 2025.

Half-year consolidated profit after tax was Rs 15.29 crore, compared with Rs 13.71 crore a year earlier. Profit before tax increased to Rs 18.64 crore from Rs 15.37 crore, although the cash-flow statement shows that the Rs 34.66 crore receivables increase reduced cash available from the reported operating result.

Vertoz reports one reportable segment under Indian Accounting Standards, or Ind AS. The filing consequently does not divide the Rs 165.55 crore half-year revenue, the Rs 116.25 crore receivables balance or the Rs 15.29 crore profit among business lines, geographies or individual group entities.

Why did Vertoz’s cash balance decline?

Vertoz’s cash and cash equivalents fell by Rs 3.22 crore in the half year ended September 30, 2026. Closing cash was Rs 5.19 crore, compared with Rs 8.41 crore at March 31, and the cash-flow statement identifies a net decrease of Rs 3.22 crore over the period.

The September 30 cash balance comprised Rs 5.19 crore in bank current and deposit accounts and Rs 70,000 of cash on hand. The source’s balance sheet and cash-flow statement present the same closing cash-and-cash-equivalents total of Rs 5.19 crore, linking the period-end balance to the six-month cash-flow movement.

The cash-flow statement shows an operating profit before working-capital changes of Rs 31.14 crore for the half year. Its disclosed working-capital movements include the Rs 34.66 crore increase in trade receivables, a Rs 9.45 crore increase in other non-current assets and a Rs 14.56 crore decrease in other current assets.

The financial results are unaudited and were approved by Vertoz’s board on November 13, 2026. The independent auditor said its review, conducted under Standard on Review Engagements 2410, had not identified anything that caused it to believe the consolidated results contained a material misstatement; it also stated that a review provides less assurance than an audit.

Did Vertoz increase its short-term borrowings?

Yes. Vertoz’s current borrowings rose to Rs 45.78 crore at September 30, 2026 from Rs 31.21 crore at March 31, 2026, an increase of Rs 14.56 crore. The cash-flow statement also records an increase in short-term borrowings during the half year, although it does not disclose facility-level terms in the supplied filing.

Non-current borrowings moved lower, to Rs 49.57 crore at September 30 from Rs 50.23 crore at March 31. Combining current and non-current borrowings, total reported borrowings were Rs 95.34 crore at September 30, compared with Rs 81.45 crore six months earlier.

Finance cost was Rs 5.97 crore in the half year ended September 30, 2026, compared with Rs 2.17 crore in the corresponding prior-year half year. In the September 2026 quarter, finance cost was Rs 3.84 crore, above Rs 2.14 crore in the June 2026 quarter.

What changed in Vertoz’s wider working-capital position?

Vertoz reported total current assets of Rs 251.79 crore at September 30, 2026, up from Rs 207.80 crore at March 31. Trade receivables added Rs 34.66 crore to the movement, other current assets increased by Rs 9.43 crore, and cash and cash equivalents declined by Rs 3.22 crore.

Total current liabilities rose to Rs 167.90 crore from Rs 128.33 crore. The reported excess of current assets over current liabilities was therefore Rs 83.89 crore at September 30, compared with Rs 79.47 crore at March 31, based on the disclosed balance-sheet totals.

Within current liabilities, trade payables due to other parties declined by Rs 8.52 crore to Rs 70.42 crore. Other current liabilities increased to Rs 62.15 crore from Rs 40.62 crore, but the filing does not provide a composition of that Rs 21.54 crore rise.

At the broader balance-sheet level, total assets increased to Rs 461.20 crore at September 30 from Rs 420.70 crore at March 31. Total equity rose to Rs 243.95 crore from Rs 221.34 crore, while other equity increased to Rs 164.65 crore from Rs 147.84 crore.

Conclusion

Vertoz’s September 2026 consolidated balance sheet shows a Rs 34.66 crore rise in trade receivables to Rs 116.25 crore alongside a Rs 3.22 crore reduction in cash to Rs 5.19 crore. Revenue grew to Rs 165.55 crore in the half year, but current borrowings rose Rs 14.56 crore and total current liabilities increased Rs 39.57 crore.

The next financial results will show whether Vertoz’s receivables balance changes from the September 30 level of Rs 116.25 crore and whether cash changes from Rs 5.19 crore. The November 13, 2026 filing discloses no separate collection target, borrowing-reduction plan or segment-level working-capital guidance.