Vinyas Innovative Technologies Ltd(VINYAS)

NSE: VINYAS

₹ 1,400-4.04%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 1,775 crUpdated: 24 Oct 2026

About

Vinyas Innovative Technologies is an electronics manufacturing services (EMS) provider offering design, engineering and manufacturing to global OEMs and ODMs, from facilities in Mysuru, Karnataka. Its offerings span printed circuit board assembly, cable harness assembly and system integration, with defence as its largest segment. Reported FY26 revenue was 514.32 (Rs Cr), and the order book stood at ₹1,309 crore as at 31 March 2026.^[1][2]

Business segments

Defence & aerospace contributed 78% of revenue in FY25; industrial contributed 18.4% (Rs 72.98 cr, up from Rs 34.08 cr).^[3]
In H1 FY26, defence & aerospace was about 70-75% of revenue (slide: 78.5%), industrial about 15-18.5%, with medical and others making up the rest.^[4]
Defence is the largest and most strategic segment, contributing over half of revenues per the FY26 annual report.^[1]

Products and services

Offerings fall into three categories: printed circuit board assembly (PCBA), cable harness assembly and system integration.^[1]
Offers Build to Print (B2P) and Build to Specification (B2S) services.^[1]
Business model built on high-mix, low-to-medium volume manufacturing of complex electronic systems.^[1]

Operations and approvals

Manufacturing facilities are located in Mysuru, Karnataka.^[1]
Capacity utilisation was 35-40% in H1 FY26; current capacity supports Rs 1,100-1,200 cr of revenue.^[4]
Obtained NADCAP AC7120 accreditation, which qualifies it for regulated commercial aerospace and export-controlled defence programs (disclosed in Q2 FY26 call).^[4]
Obtained a Defence License from the Government of India in 2016.^[1]
Total employees numbered 413, of whom 39 are women, per the FY26 annual report.^[1]

Order book

Order book was ₹1,309.06 Cr at 31 March 2026, up from ₹863 Cr at the start of FY26; the company describes it as 2x revenue.^[5]
Order inflow was ₹960.38 Cr in FY26 against ₹514 Cr of execution, vs ₹737 cr of inflow in FY25.^[5][3]
Defence accounted for ₹793 Cr of the order book in FY26; system integration orders totalled ₹324 Cr.^[5]
Medical and commercial aerospace verticals had a ₹35 Cr order book against an ₹800 Cr five-year opportunity as of FY26.^[5]

Customers and exports

Serves more than 100 customers across defence, aerospace, medical, industrial and transportation sectors.^[1]
Added 4 defence & aerospace, 3 industrial and 1 medical device customer logos in FY26.^[5]
Export orders made up about 22-23% of order inflows in FY25.^[3]
Signed a medical device manufacturing agreement with Fresenius Kabi, and received a first PO from a foreign commercial aerospace OEM (FY25).^[3]
Related party transactions of up to ₹400 crore were sought with Nexus, which accounted for 77.82% of turnover, per the FY26 annual report.^[1]

Expansion and capex

Started expanding by an additional 25,000 sq ft of Class 3 manufacturing facility to support system integration (FY26).^[1][5]
New SMT-line capex is planned to double capacity, online by April 2027, with Rs 30 cr of capex funded from the capital raise.^[4]
Set up Vinyas Innovative Technologies Inc., USA, and Vinyas Technologies Private Limited as wholly owned subsidiaries for North American presence and capacity augmentation.^[1]

Recent developments

Oct 7, 2026: received a ₹39.96 Crores domestic order to supply and replace helicopter helmets, including integration and testing, executable in 8-9 months.^[6]
Preferential warrants issue of ₹150.04 crore; ₹61.25 crore had been received and ₹53.25 crore utilised, per the FY26 annual report.^[1]
Shareholder approval is being sought to raise the borrowing limit to ₹600 crore (FY26 annual report).^[1]

Market Cap

₹1,775 Cr

High / Low

₹1,730 / 809

Stock P/E

63.9

Price / Book

0.0

Book Value

₹187

EPS

₹24.5

No. of Shares

1.26 Cr

ROCE

15.8%

ROE

13.1%

OPM

11.2%

Debt / Equity

0.55

Sales

₹514 Cr

Net Profit

₹31 Cr

Promoter holding

29.2%

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