C and S Electric Limited Annual Reports, Balance Sheet and Financials

C & S Electric Limited Standalone Balance Sheet (Rs in Crores)

Particulars	31-03-2026	30-09-2024
Non-Current Assets
Property, Plant And Equipment	148.93	142.81
Right-Of-Use Assets	53.49	22.41
Capital Work-In-Progress	9.65	4.42
Intangible Assets	6.12	6.38
Intangible Assets Under Development	1.44	0.11
Trade Receivables	12.93	4.67
Other Financial Assets	3.48	5.77
Deferred Tax Assets (Net)	22.54	32.10
Income Tax Assets (Net)	27.27	10.00
Other Non-Current Assets	8.79	9.31
Current Assets
Inventories	355.91	234.03
Investments	-	-
Trade Receivables	447.76	398.22
Cash And Cash Equivalents	107.72	234.47
Bank Balances Other Than Cash And Cash Equivalents	360.19	0.12
Loans	0.29	0.24
Other Financial Assets	58.03	6.22
Contract Assets	2.47	1.32
Other Current Assets	24.30	15.70
Total Assets	1,651.37	1,128.37
Equity
Equity Share Capital	44.26	44.26
Other Equity	835.81	605.56
Non-Current Liabilities
Lease Liabilities	40.37	10.41
Other Financial Liabilities	5.65	6.76
Contract Liabilities	73.26	-
Provisions	32.61	23.76
Current Liabilities
Lease Liabilities	11.32	8.98
Trade Payables - Micro & Small Enterprises	125.14	87.97
Trade Payables - Other Than Micro & Small Enterprises	256.42	139.68
Other Financial Liabilities	65.97	69.63
Contract Liabilities	74.68	36.03
Provisions	72.79	69.94
Current Tax Liabilities (Net)	1.03	8.47
Other Current Liabilities	11.99	16.86
Total Equity And Liabilities	1,651.37	1,128.37

 C & S Electric Limited Standalone Profit & Loss Statement (Rs in Crores)

Particulars	31-03-2026	30-09-2024
Revenue From Operations	2,877.37	1,701.88
Other Income	117.10	17.25
Total Income	2,994.47	1,719.14
Expenses
Cost Of Materials Consumed	1,887.09	1,079.27
Purchases Of Stock-In-Trade	54.81	4.45
Changes In Inventories Of Finished Goods, Work-In-Progress And Stock-In-Trade	-85.42	-21.82
Employee Benefits Expense	278.31	151.04
Finance Costs	6.92	1.89
Depreciation And Amortization Expense	64.86	33.57
Other Expenses	347.47	205.62
Total Expenses	2,554.07	1,454.03
Profit Before Exceptional Items And Tax	440.40	265.10
Exceptional Items	10.84	-
Profit Before Tax	429.55	265.10
Current Tax	99.20	64.88
Tax (Credit)/Expense For Earlier Years	-0.28	0.03
Deferred Tax Charge	9.71	2.30
Profit For The Period/Year	320.91	197.87
Other Comprehensive (Loss)/Income, Net Of Tax	-0.68	-2.38
Total Comprehensive Income	320.23	195.49
Earnings Per Equity Share (Basic And Diluted, Rs.)	72.49	44.70

C & S Electric Limited Standalone Cash Flow Statement (Rs in Crores) 

Particulars	31-03-2026	30-09-2024
Cash Flow From Operating Activities
Profit Before Income Tax	429.55	265.10
Adjustments For:
Depreciation And Amortization Expenses	64.86	33.57
Net Loss On Property, Plant And Equipment Sold / Discard (Net)	0.06	0.14
Finance Cost	1.88	0.32
Interest Expense On Lease Liabilities	5.04	1.57
Interest Income - On Bank Deposits	-24.63	-10.52
Interest Income On Trade Receivables	-0.12	-
Discounting Income On Financial Asset - Security Deposit	-0.22	-0.09
Liabilities/ Provisions No Longer Required Written Back	-3.23	-0.98
Provision For Expected Credit Loss/ Doubtful Debts And Bad Debts Written Off	-6.58	-8.31
Unrealized Foreign Exchange (Gain)/ Loss (Net)	2.94	0.99
Unrealized Mark To Market (Gain)/ Loss (Net)	-31.06	0.63
Provision For Loss Order	4.97	-0.29
Other Non-Cash Expense	-	0.09
Unwinding Of Discounts On Financial Assets	-	-0.27
Share Based Payment To Employee	1.07	0.81
Operating Profit Before Changes In Assets And Liabilities	444.53	282.76
Adjustments For Changes In Assets And Liabilities:
(Increase) In Inventories	-121.88	-9.62
(Increase) In Trade Receivables	-55.78	-95.87
Decrease In Other Non-Current Financial Assets	2.28	1.52
(Increase) In Other Current Financial Assets	-6.57	-0.86
(Increase) In Other Current Assets	-8.60	-2.80
(Increase) In Contract Assets	-1.14	-1.32
(Increase)/Decrease In Other Non-Current Assets	-0.05	0.01
Increase In Trade Payables	153.86	51.80
(Decrease) In Other Non-Current Financial Liabilities	0.25	0.28
(Decrease)/Increase In Other Current Financial Liabilities	-21.91	20.22
(Decrease)/Increase In Other Current Liabilities	-4.87	5.84
Increase In Non-Current Contract Liabilities	73.26	-
Increase/(Decrease) In Contract Liabilities	41.88	-2.17
Increase In Current Provisions	0.01	19.35
Increase In Non-Current Provisions	5.72	0.38
Cash Generated From Operating Activities	500.99	269.52
Income Taxes Paid	-124.01	-67.63
Net Cash From Operating Activities	376.97	201.88
Cash Flow From Investing Activities
Payment For Property, Plant And Equipment (Including Capital Advances & Capital Work In Progress)	-55.95	-28.77
Proceeds From Sale Of Property, Plant And Equipment	0.52	0.21
Bank Deposits Made During The Period	-360.02	-
Net Movement In Earmarked Balances With Banks - Unpaid Dividend	-0.03	-0.07
Interest Income - On Bank Deposits	24.63	10.52
Interest Income On Trade Receivables	0.12	-
Net Cash (Used In) Investing Activities	-390.72	-18.10
Cash Flow From Financing Activities
Dividend Paid	-88.53	-88.53
Interest Expenses Paid	-0.20	-0.31
Recharge For Share-Based Payments	-3.65	-0.03
Payment Of Principal Of Lease Liabilities	-15.57	-7.36
Payment Of Interest Of Lease Liabilities	-5.04	-1.53
Net Cash (Used In) Financing Activities	-113.00	-97.78

Summary of cash flow statement

 

Operating Activities:
Net cash generated from operating activities increased significantly from ₹201.88 crore as on 30 September 2024 to ₹376.97 crore as on 31 March 2026, reflecting a substantial improvement in the company 's cash-generating ability from its core business operations. This was primarily driven by higher profit before tax, which increased from ₹265.10 crore to ₹429.55 crore, along with higher operating profit before changes in working capital. Although the company experienced increased investment in inventories and trade receivables, these were more than offset by higher trade payables and contract liabilities, resulting in stronger operating cash flows. Overall, the company demonstrated robust operational efficiency and effective working capital management.

 

Investing Activities:
Net cash used in investing activities increased sharply from ₹18.10 crore to ₹390.72 crore, indicating a significant rise in investment-related outflows. The major contributor was the placement of ₹360.02 crore in bank deposits, along with capital expenditure of ₹55.95 crore on property, plant, and equipment. These outflows were partially offset by proceeds from the sale of fixed assets and higher interest income on bank deposits. The substantial investment in financial assets and productive resources reflects the company 's focus on preserving liquidity and supporting future growth.

 

Financing Activities:
Net cash used in financing activities increased from ₹97.78 crore to ₹113.00 crore. The cash outflow primarily comprised dividend payments of ₹88.53 crore, repayments of lease liabilities, interest payments, and recharge for share-based payments. The absence of significant borrowings or equity financing indicates that the company continued to finance its operations primarily through internally generated funds while maintaining regular shareholder distributions and meeting its financial obligations.

 

Overall Cash Flow Position:
The cash flow statement indicates a financially strong company with healthy cash generation from operating activities, which comfortably supported dividend payments, lease obligations, capital expenditure, and significant investments in bank deposits. While investing cash outflows increased substantially due to strategic deployment of surplus funds, the strong operating cash flows demonstrate the company 's ability to sustain its growth initiatives without relying on external financing. Overall, the cash flow position reflects sound liquidity management, strong operational performance, and prudent financial planning.

Financial ratios of C & S Electric Limited

 

Particulars	31-03-2026	30-09-2024
Current Ratio	2.19	2.03
Debt-Equity Ratio	0.07	0.03
Debt Service Coverage Ratio	20.02	26.44
Return On Equity	43.37%	33.14%
Inventory Turnover Ratio	6.29	4.63
Trade Receivables Turnover Ratio	6.61	4.81
Trade Payables Turnover Ratio	7.59	6.44
Net Working Capital Turnover Ratio	4.80	4.24
Net Profit Ratio	11.62%	11.73%
Return On Capital Employed	48.40%	40.29%
Return On Investment	32.18%	26.00%

 

Summary of Financial Ratios

Current Ratio:
The current ratio improved from 2.03 as on 30 September 2024 to 2.19 as on 31 March 2026, indicating a stronger liquidity position. The company has maintained sufficient current assets to comfortably meet its short-term obligations, reflecting sound working capital management.

 

Debt-Equity Ratio:
The debt-equity ratio increased from 0.03 to 0.07 during the period. Although there has been a slight increase in the use of debt financing, the ratio remains very low, indicating that the company continues to rely primarily on equity financing and maintains a conservative capital structure.

 

Debt Service Coverage Ratio (DSCR):
The debt service coverage ratio declined from 26.44 to 20.02. Despite the decrease, the ratio remains exceptionally strong, demonstrating that the company generates sufficient operating earnings to comfortably meet its debt repayment obligations.

 

Return on Equity (ROE):
Return on equity increased significantly from 33.14% to 43.37%, reflecting improved profitability and more efficient utilization of shareholders ' funds. This indicates enhanced value creation for equity investors.

 

Inventory Turnover Ratio:
The inventory turnover ratio improved from 4.63 to 6.29, suggesting that the company managed and sold its inventory more efficiently during the period. Higher inventory turnover reflects effective inventory management and improved operational efficiency.

 

Trade Receivables Turnover Ratio:
The trade receivables turnover ratio increased from 4.81 to 6.61, indicating faster collection of receivables from customers. This improvement reflects stronger credit management practices and enhanced cash flow efficiency.

 

Trade Payables Turnover Ratio:
The trade payables turnover ratio increased from 6.44 to 7.59, implying that the company settled its obligations to suppliers more quickly than in the previous period. While this demonstrates financial strength, it also indicates a shorter credit period being utilized.

 

Net Working Capital Turnover Ratio:
The net working capital turnover ratio improved from 4.24 to 4.80, indicating more efficient utilization of working capital in generating revenue. This reflects improved operational performance and effective management of current assets and liabilities.

 

Net Profit Ratio:
The net profit ratio remained relatively stable, declining marginally from 11.73% to 11.62%. The slight decrease suggests that the company maintained a consistent level of profitability despite changes in operating conditions, reflecting stable cost control and earnings performance.

Return on Capital Employed (ROCE):
The return on capital employed increased from 40.29% to 48.40%, indicating improved efficiency in generating profits from the capital invested in the business. The higher ratio reflects stronger operational performance and effective utilization of long-term funds.

 

Return on Investment (ROI):
The return on investment improved from 26.00% to 32.18%, demonstrating better returns generated from the company 's investments. This increase indicates enhanced investment performance and improved overall financial efficiency.