Vinsys cash rises Rs 17.48 crore on Rs 21.22 crore borrowings

Vinsys IT Services India Limited increased consolidated cash and cash equivalents by Rs 17.48 crore in the half year ended September 30, 2026, chiefly because net borrowing proceeds were Rs 21.22 crore. Cash ended at Rs 27.94 crore, while short-term borrowings rose to Rs 45.03 crore from Rs 21.42 crore at March 31, 2026.

How did Vinsys cash increase during the half year?

Vinsys increased cash through financing activity rather than operations or investing activity in the half year ended September 30, 2026. The consolidated cash-flow statement records Rs 19.37 crore of net cash from financing activities, comprising Rs 21.22 crore of net proceeds from borrowings, partly offset by Rs 2.00 crore of finance-cost payments. Proceeds from share issuance and an increase in minority interest added Rs 7.19 lakh and Rs 7.78 lakh, respectively.

The net cash increase was Rs 17.48 crore, compared with an increase of Rs 8.48 crore in the half year ended September 30, 2025. Opening cash was Rs 10.47 crore at the start of the September 2026 period, compared with Rs 13.32 crore a year earlier. The closing balance of Rs 27.94 crore was Rs 6.15 crore higher than the Rs 21.80 crore reported at September 30, 2025.

What changed in Vinsys borrowings by September 2026?

Vinsys's short-term borrowings more than doubled to Rs 45.03 crore at September 30, 2026, from Rs 21.42 crore at March 31, 2026. The Rs 23.60 crore increase was the largest movement among the reported current-liability lines. Long-term borrowings moved in the opposite direction, declining to Rs 28.08 crore from Rs 30.47 crore over the same period.

The cash-flow statement reports Rs 21.22 crore of net proceeds from borrowings during the September 2026 half year, versus Rs 25.48 crore in the September 2025 half year. This financing inflow was lower than in the prior-year period, but it was the main contributor to the Rs 17.48 crore cash increase because operating activity contributed Rs 3.25 crore and investing activity used Rs 5.14 crore.

Current liabilities totalled Rs 81.89 crore at September 30, 2026, compared with Rs 49.91 crore at March 31, 2026. Trade payables to creditors other than micro and small enterprises rose to Rs 13.91 crore from Rs 6.00 crore, while other current liabilities increased to Rs 20.97 crore from Rs 17.59 crore. Short-term provisions declined to Rs 1.99 crore from Rs 4.90 crore.

Did Vinsys generate cash from operations?

Vinsys generated Rs 3.25 crore of net cash from operating activities in the half year ended September 30, 2026, reversing a Rs 7.48 crore outflow in the comparable 2025 half year. Cash generated from operations before tax payments and prior-period items was Rs 8.77 crore, compared with a Rs 5.99 crore outflow a year earlier. Tax payments or adjustments of Rs 4.90 crore and prior-period items of Rs 62.48 lakh reduced that operating cash figure.

Working-capital movements were mixed. Trade receivables released Rs 51.51 lakh of cash, whereas short-term loans and advances absorbed Rs 19.84 crore. Increases in trade payables and other current liabilities contributed Rs 7.91 crore and Rs 3.38 crore, respectively, while other current assets released Rs 4.78 crore. These movements accompanied a balance-sheet increase in short-term loans and advances to Rs 31.55 crore from Rs 11.72 crore.

Profit before tax was Rs 6.73 crore in the September 2026 half year, down from Rs 9.70 crore in the September 2025 half year. Depreciation of Rs 2.89 crore and finance cost of Rs 2.00 crore were added back in deriving operating cash, while investment income of Rs 1.26 crore was deducted. The disclosed tax, prior-period and working-capital movements explain the difference between profit before tax and operating cash flow.

Where did Vinsys deploy cash outside operations?

Vinsys used Rs 5.14 crore in investing activities during the half year ended September 30, 2026, compared with Rs 7.91 crore used in the prior-year half year. The principal uses were Rs 4.48 crore for goodwill during consolidation and Rs 3.71 crore for property, plant and equipment. Investment income of Rs 1.26 crore and a Rs 1.09 crore decrease in other non-current assets partly offset those uses.

On the balance sheet, capital work in progress increased to Rs 45.21 crore at September 30, 2026 from Rs 40.36 crore at March 31, 2026. Goodwill rose to Rs 9.25 crore from Rs 4.77 crore, while intangible assets increased to Rs 14.37 crore from Rs 12.62 crore. Non-current investments decreased to Rs 2.09 crore from Rs 3.06 crore, and current investments were Rs 10.65 crore against Rs 10.38 crore at March 31, 2026.

Total consolidated assets reached Rs 284.32 crore at September 30, 2026, up from Rs 243.01 crore at March 31, 2026. Current assets increased to Rs 199.60 crore from Rs 167.32 crore, supported by cash of Rs 27.94 crore and short-term loans and advances of Rs 31.55 crore. Trade receivables were broadly stable at Rs 89.74 crore, compared with Rs 90.25 crore at the March 2026 year end.

How did Vinsys earnings and segments compare?

Vinsys reported consolidated revenue from operations of Rs 138.93 crore for the half year ended September 30, 2026, compared with Rs 120.01 crore in the September 2025 half year. Profit before tax declined to Rs 6.73 crore from Rs 9.70 crore, and profit for the period decreased to Rs 6.41 crore from Rs 8.85 crore. Finance cost rose to Rs 2.00 crore from Rs 1.62 crore, while cost of delivery of services rose to Rs 96.18 crore from Rs 78.15 crore.

Vinsys reported IT Services and Manpower Supply as operating segments, alongside an Outside India geographical segment. In the September 2026 half year, IT Services recorded segment revenue of Rs 27.00 crore and a segment loss of Rs 97.32 lakh. Manpower Supply recorded revenue of Rs 68.29 crore and segment profit of Rs 1.26 crore, while the Outside India geographical segment reported revenue of Rs 61.19 crore and profit before tax of Rs 6.44 crore.

The consolidated results were unaudited and were approved by the Audit Committee and Board of Directors on November 6, 2026. The statutory auditor's limited-review conclusion stated that nothing had come to its attention to indicate the consolidated statement failed to make the required disclosures or contained a material misstatement. The consolidated accounts include 10 subsidiaries, according to the review report.

Conclusion

Vinsys ended the September 2026 half year with Rs 27.94 crore in cash, but the Rs 17.48 crore increase was principally financed by Rs 21.22 crore of net borrowing proceeds. Short-term borrowings rose by Rs 23.60 crore to Rs 45.03 crore, while operating cash improved to an inflow of Rs 3.25 crore and investing activity used Rs 5.14 crore.

The filing does not disclose a borrowing-reduction target, a capital-work-in-progress completion plan or a scheduled future event. The next financial update will therefore be relevant for changes in short-term borrowings of Rs 45.03 crore, capital work in progress of Rs 45.21 crore, goodwill of Rs 9.25 crore and the Rs 31.55 crore balance of short-term loans and advances.