Viviana Power Tech Ltd(VIVIANA)

NSE: VIVIANA

₹ 771+0.20%refreshed 16 Jul, 02:44 pm ISTMarket cap: ₹ 781 crUpdated: 24 Oct 2026

About

Viviana Power Tech Ltd is a Gujarat-based EPC contractor executing power transmission and distribution projects up to 400 kV across India, with a transformer manufacturing arm and a nascent Battery Energy Storage System (BESS) segment. The company reported consolidated revenue of ₹531.25 cr in FY26, a stated 16x growth since its NSE Emerge listing in September 2022. It migrated to the NSE Main Board on 2 June 2026.^[1][2][3]

Business segments

EPC (power transmission and distribution): 94.4% of FY26 segment revenue at ₹501.67 cr, EBIT margin 13.2%.^[4]
Real Estate (Viviana Life Spaces subsidiary): 3.8% of FY26 segment revenue at ₹20.28 cr, EBIT margin 29.5%.^[4]
BESS (Battery Energy Storage): two projects secured worth ₹511.20 cr in FY26; both pending regulatory approvals and not yet generating revenue.^[2][3]

Products and services

Core service: EPC execution of power transmission and distribution systems up to 400 kV.^[5]
BESS projects executed under BOO model with VGF support: 100 MW/200 MWh (Rajasthan, RVUNL) and 65 MW/130 MWh (Gujarat, GUVNL).^[6]

Order book and pipeline

Total executable order book: ₹1,312.53 cr as of Q1 FY27; EPC component >₹800 cr, BESS component ~₹500 cr.^[3]
Bids under evaluation: >₹1,400 cr; active tender pipeline: >₹2,600 cr as of Q1 FY27.^[3]
Single largest bid capacity: >₹120 cr per tender as of Q1 FY27.^[3]
RDSS scheme constituted ~35% of the order book as of Q1 FY26; remainder from system improvement, Kisan Suryoday Yojana, and utility internal funding.^[7]
90 - 95% of order bookings carry price variation clauses, passing raw material price risk to clients as of FY26.^[2]

Operations and geographic footprint

Projects executed in 11 states, spanning Kashmir to Kerala and Gujarat to Odisha; active bidding expanding to Haryana, Rajasthan, Bihar, and Uttarakhand in FY27.^[6][3]
38 parallel projects under execution as of Q2 FY26; white-collar headcount of 137 as of Q2 FY26, doubled in the preceding six months.^[6]
Working capital limit enhanced to >₹250 cr as of Q2 FY26, with management guiding 2.5x - 3x rotation per year.^[6]

Transformer manufacturing capacity

IDT transformer facility (lease-based, Vadodara area): inaugurated end of August 2026 with capability to manufacture transformers up to 10 MVA / 20 MVA.^[3]
Greenfield transformer facility: 14-acre site in Vadodara district; Phase 1 targets up to 132 kV / 63 MVA; total Phase 1 capex ~₹90 cr, with ~₹10 cr to be deployed in FY27.^[3]
Board approved total greenfield capex of ₹100 cr in Q4 FY26; production commencement targeted by FY27 end for Phase 1.^[2]

BESS projects

Rajasthan project (RVUNL): 100 MW / 200 MWh, ₹302.46 cr; land received, awaiting further approvals as of Q1 FY27.^[2][3]
Gujarat project (GUVNL): 65 MW / 130 MWh, ₹208.74 cr; BESPA signed; awaiting notice to proceed (NTP) from GUVNL as of Q1 FY27.^[2][3]
BESS execution is positioned as a credential to unlock TBCB/HVDC bidding eligibility targeted for FY29 - 30.^[2]

Recent developments

Board approved divestment of 90% stake in Viviana Life Spaces Pvt Ltd and 75% stake in Aarsh Transformers Pvt Ltd to focus on core power infrastructure, BESS, and transformer manufacturing; subject to definitive agreements.^[3]
NSE Main Board listing completed 2 June 2026; institutional outreach to domestic mutual funds, PMS houses, and family offices initiated.^[2][3]
Q1 FY27 revenue from operations: ₹71.86 cr vs ₹20.78 cr in Q1 FY26, a 246% YoY increase.^[3]
>₹40 cr of Q1 FY27 receivables collected in July 2026, with management reporting no delayed payments from any client.^[3]
Company proposed to advance up to ₹50 cr to Viviana Life Spaces Pvt Ltd for purchase of office premises for business use in FY27.^[5]
Final dividend of Re. 1 per equity share (10%) declared for FY26 on 1,01,24,800 equity shares.^[5]

Market Cap

₹781 Cr

High / Low

₹968 / 746

Stock P/E

17.4

Price / Book

13.2

Book Value

₹115

EPS

₹52.1

No. of Shares

1.01 Cr

ROCE

40.7%

ROE

59.7%

OPM

15.0%

Debt / Equity

0.86

Sales

₹531 Cr

Net Profit

₹53 Cr

Promoter holding

70.8%

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Viviana Power Tech Ltd(VIVIANA)

About

Business segments

Products and services

Order book and pipeline

Operations and geographic footprint

Transformer manufacturing capacity

BESS projects

Recent developments

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