Vinayak Polycon cuts current borrowings by Rs 1.298 crore

Vinayak Polycon International Limited reduced current borrowings to Rs 2.1044 crore at September 30, 2026, from Rs 3.4024 crore on March 31, a reduction of Rs 1.298 crore. The half-year cash-flow statement reported Rs 1.3294 crore of net cash from operating activities and a Rs 1.298 crore decrease in working-capital borrowings.

How much did Vinayak Polycon reduce current borrowings?

Vinayak Polycon reduced current borrowings by Rs 1.298 crore during the six months ended September 30, 2026. Current borrowings, reported within current financial liabilities, were Rs 2.1044 crore at the September balance-sheet date, compared with Rs 3.4024 crore at March 31, 2026.

The decline was concentrated in short-term funding rather than non-current borrowings. Non-current borrowings were unchanged at Rs 48.84 lakh at both September 30 and March 31. Total reported borrowings therefore fell to Rs 2.5928 crore from Rs 3.8908 crore, a reduction of Rs 1.298 crore.

Current liabilities fell to Rs 2.7818 crore at September 30 from Rs 4.0112 crore at the previous financial year-end. The Rs 1.2294 crore reduction in total current liabilities was smaller than the borrowing decline because trade payables rose to Rs 23.40 lakh from Rs 8.13 lakh, while other financial current liabilities fell to Rs 6.52 lakh from Rs 12.17 lakh.

What cash flow accompanied Vinayak Polycon’s borrowing reduction?

Vinayak Polycon reported net cash flow from operating activities of Rs 1.3294 crore for the half year ended September 30, 2026. Its financing cash flow was an outflow of Rs 1.4058 crore, comprising a Rs 1.298 crore decrease in working-capital borrowings and Rs 10.78 lakh of interest paid. The filing records both movements but does not allocate operating cash to a particular repayment.

Cash generated from operations before taxes was Rs 1.4006 crore, compared with a negative Rs 17.88 lakh for the year ended March 31, 2026. Taxes paid were Rs 7.10 lakh in the half year, resulting in the Rs 1.3294 crore operating inflow. As the prior comparison is a 12-month period rather than a six-month period, it is not like-for-like by duration.

The largest working-capital movement was a Rs 1.1852 crore decrease in inventory. Inventories were Rs 1.6313 crore at September 30, down from Rs 2.8165 crore at March 31. This release was partly offset by a Rs 15.88 lakh increase in trade receivables, which closed at Rs 3.0403 crore against Rs 2.8815 crore at the March year-end.

How did Vinayak Polycon’s September balance sheet change?

Vinayak Polycon’s total assets declined by Rs 1.158 crore to Rs 8.9074 crore at September 30, 2026, from Rs 10.0654 crore at March 31. Current assets accounted for most of the movement, falling by Rs 1.1383 crore to Rs 5.4489 crore, while non-current assets declined by Rs 1.97 lakh to Rs 3.4585 crore.

Within current assets, the Rs 1.1852 crore inventory reduction exceeded the Rs 15.88 lakh rise in trade receivables. Cash and cash equivalents closed at Rs 33.35 lakh, compared with Rs 40.67 lakh at March 31, a decline of Rs 7.32 lakh. The cash-flow statement records the same Rs 7.32 lakh net decrease after operating, investing and financing movements.

Equity increased to Rs 5.1328 crore from Rs 5.0614 crore over the same period. Equity share capital remained Rs 3.0813 crore, while other equity increased to Rs 2.0515 crore from Rs 1.9801 crore. The Rs 7.14 lakh increase in other equity corresponds numerically with the reported half-year profit after tax of Rs 7.14 lakh, although the filing does not separately explain that movement.

What were Vinayak Polycon’s half-year earnings and finance costs?

Vinayak Polycon reported revenue from operations of Rs 12.2701 crore for the half year ended September 30, 2026, compared with Rs 10.1435 crore in the corresponding half year ended September 30, 2025. Total income was Rs 12.2733 crore, including Rs 0.32 lakh of other income, compared with Rs 10.1435 crore a year earlier.

Profit before tax was Rs 7.55 lakh, down from Rs 11.18 lakh in the prior-year half year, while profit after tax fell to Rs 7.14 lakh from Rs 9.68 lakh. Total expenses rose to Rs 12.1978 crore from Rs 10.0317 crore. Material-consumption cost increased by Rs 1.9144 crore to Rs 8.1414 crore, while other expenses rose by Rs 2.78 lakh to Rs 2.3398 crore.

Finance costs were Rs 10.78 lakh in the six-month period, compared with Rs 11.63 lakh in the corresponding period of 2025. The Rs 0.85 lakh reduction occurred while current borrowings declined by Rs 1.298 crore between March 31 and September 30. The filing does not provide interest rates, lender terms or a schedule of average borrowings during the period.

What does Vinayak Polycon’s filing say about its business and review?

Vinayak Polycon states that its activity falls within a single operating segment under Indian Accounting Standard 108, known as Ind AS 108. It therefore did not provide segmental revenue, assets or profit information for the Rs 12.2701 crore of first-half operating revenue. This prevents a comparison of borrowing movements across business lines.

The Board approved the unaudited quarter and half-year results on October 31, 2026, following review and recommendation by the Audit Committee. A. Natani & Co. issued a limited review report dated October 31, 2026, stating that nothing had come to its notice indicating that the standalone results failed to disclose required information or contained a material misstatement.

The auditor also stated that its limited review was not an audit. The results were prepared under Ind AS 34, Interim Financial Reporting, and the filing says comparative figures were regrouped or rearranged where necessary to make them compatible.

Conclusion

Vinayak Polycon’s September 2026 statements show a Rs 1.298 crore reduction in current and total borrowings, while non-current borrowings remained Rs 48.84 lakh. The half year produced Rs 1.3294 crore of operating cash flow, led by a Rs 1.1852 crore inventory decrease, although trade receivables rose by Rs 15.88 lakh and cash balances declined by Rs 7.32 lakh.

The filing does not disclose a borrowing target, repayment plan or scheduled financial-results date beyond the September 2026 results. Its stated next scheduled event is the reopening of the trading window for insiders, directors, promoters, connected persons and designated employees from November 3, 2026.