Crestwell Healthcare Strengthens Balance Sheet as Loss Narrows in FY2026
Crestwell Healthcare Limited, formerly known as S. G. Power Limited, has reported a mixed financial performance for the year ended June 30, 2026, with the company continuing to post a loss but showing a notable improvement in its overall financial position.
According to the company’s financial statements, total assets stood at Rs. 13.10 million at June 30, 2026, compared with Rs. 18.39 million a year earlier. Non-current assets amounted to Rs. 10.82 million, while current assets stood at Rs. 2.28 million. The company’s property, plant and equipment were valued at Rs. 5.52 million, while long-term deposits remained unchanged at Rs. 5.30 million. 284048
Loss Continues, But Operating Performance Shows Some Improvement
Crestwell Healthcare reported a net loss after taxation of Rs. 8.21 million for FY2026, compared with a loss of Rs. 8.40 million in FY2025. The loss per share also improved slightly, moving from Rs. 0.47 per share to Rs. 0.46 per share. 284048
The company’s power segment, which generated revenue of Rs. 6.15 million in the previous year, reported no revenue during FY2026. As a result, the power segment was presented as a discontinued operation. Administrative and selling expenses declined from Rs. 6.62 million to Rs. 5.33 million, although the company recorded other charges of Rs. 2.88 million during the year. 284048
Equity Position Improves
One of the more notable developments was the improvement in shareholders’ equity. Total equity increased to Rs. 4.49 million at June 30, 2026, compared with Rs. 0.67 million a year earlier. The improvement was supported by a positive comprehensive income adjustment and an advance against issue of shares amounting to Rs. 1.37 million. 284048
The statement of changes in equity shows that accumulated losses stood at Rs. 264.33 million at the end of FY2026, compared with Rs. 266.78 million at June 30, 2025. The company also recorded Rs. 1.37 million as advance against issue of shares during the year. 284048
Liabilities Decline Significantly
Crestwell also reduced its current liabilities during the year. Current liabilities fell to Rs. 7.92 million from Rs. 15.81 million in FY2025. Trade and other payables declined sharply from Rs. 14.51 million to Rs. 6.62 million. The company also reported a reduction in its subordinated loan from directors, which fell to Rs. 0.69 million from Rs. 1.91 million. 284048
This reduction in liabilities helped strengthen the company’s balance-sheet position, although the accumulated losses remain substantial.
Cash Position Remains Very Small
Cash generation improved compared with the previous year. The company generated Rs. 48,370 in net cash from operating activities, compared with an operating cash outflow of Rs. 1.32 million in FY2025. 284048
However, the company ended the year with only Rs. 6,908 in cash and cash equivalents, up from Rs. 3,273 a year earlier. Financing activities generated a net inflow of Rs. 152,265, including Rs. 1.37 million received as advance against issue of shares, partly offset by repayment/reduction of the director’s loan. 284048
Overall Outlook
Crestwell Healthcare’s FY2026 results present a company undergoing a significant transition. While the business continued to report a sizeable annual loss and had no revenue from its discontinued power segment, several balance-sheet indicators improved during the year.
The reduction in current liabilities, improvement in total equity and stronger operating cash flow provide some positive signs. At the same time, the company’s very low cash balance and accumulated losses highlight the need for careful financial management and a sustainable business strategy going forward.
For investors and market observers, the key issue will be whether Crestwell Healthcare can translate its improved financial structure into sustainable operating performance and future profitability.
