Vivid Electromech Ltd(VIVIDEL)

NSE: VIVIDEL

₹ 1,185-6.24%refreshed 26 Oct, 03:30 pm ISTMarket cap: ₹ 1,053 crWebsite: vividgroup.in/Updated: 25 Oct 2026

About

Vivid Electromech, founded in 1990 and based in Navi Mumbai, makes Low Voltage (up to 1,000 V) and Medium Voltage (3.3 kV to 33 kV) switchboards and panels, PLC and SCADA-based automation systems, and its own Power Distribution Units (PDUs). Revenue from operations was ₹200.14 Cr in FY26. Data centres made up 49.95% of that revenue. The company says it was the first local supplier of PDUs in a market previously dominated by imports.^[1][2]

Revenue by end market

Data Centre & Technology: ₹99.94 Cr, or 49.95% of FY26 revenue, up from 35.80% in FY25.^[1][3]
Industrial Manufacturing & Machinery: ₹42.62 Cr, or 21.30% of FY26 revenue.^[1]
Infrastructure, Construction & Real Estate: ₹39.79 Cr, or 19.89% of FY26 revenue.^[1]
Solar & Renewable: ₹17.07 Cr, or 8.53% of FY26 revenue, down from 20.78% in FY25.^[1][3]
The annual report says data-centre work earns an EBITDA margin about 8 to 10 percentage points higher than other project categories.^[1]

Products and licences

PDUs are designed and made in-house and bring in an estimated 30% of total revenue, according to the FY26 annual report.^[1]
Holds OEM licences from ABB (ArTuK LV switchboards and MV integration), Siemens (SIEPAN 8PU), Schneider Electric and L&T / Lauritz Knudsen, and is a Hitachi Hi-Rel channel partner for VFDs.^[1]
Panels are designed and verified to IEC 61439-1 & 2 and internal-arc tested to IEC 61641. MV switchgear complies with IEC 62271-200.^[1]
The report puts the cost of equivalent type-testing at an estimated ₹75 lakh to ₹1 crore, taking nine to ten months.^[1]

Plants and utilisation

Navi Mumbai plant utilisation was 94.36% in FY26, up from 84.99% in FY25.^[4]
Pune plant utilisation was 70% in FY26, up from 30% in FY25.^[4]

Order book

Executable order book was ₹205 Cr as of 31 Aug 2026, with a 2-9 month execution cycle. This compares with around ₹210 crore as of 30 June 2026.^[4][1]
Order book by product as of 31 Aug 2026: LV modules ₹132 Cr, MV modules ₹43 Cr, PDU ₹30 Cr.^[4]
Order book by industry as of 31 Aug 2026: data centre ₹98 Cr, metro ₹32 Cr, others ₹75 Cr.^[4]
Copper is described as the company's single largest margin variable. It is managed through price-variation clauses and back-to-back procurement, according to the FY26 annual report.^[1]

Customers and markets

Works with five to six of India's top ten data-centre operators, including AdaniConneX, STT GDC, NXTRA and CtrlS.^[1]
Of data-centre revenue, hyperscale operators make up about 70%, colocation operators 25% and enterprise or captive facilities 5%. The average project size is ₹20-25 Cr.^[1][4]
Had 113 customers in FY26, with average revenue per customer of ₹1.77 cr. The top five customers accounted for close to three-fifths of revenue.^[3][1]
72% of revenue comes from existing customers, according to the Q1 FY27 call.^[4]
Maharashtra is the anchor market, with revenue earned across more than fifteen states. The company is targeting Africa with the aim of doubling export revenue.^[1]
Plans to open sales and service offices in Chennai and Hyderabad before December 2026.^[1]

Expansion and capex

The 119,800 sq ft Ambernath Phase I plant adds 14,300 LV and 700 MV verticals a year, taking total capacity to 22,500 verticals. Commercial operations are now expected at end-October 2026, later than the end-August 2026 date given earlier.^[4][3]
Management targets about 80% utilisation at Ambernath over the medium term.^[1]
FY26 capex included ₹22.17 cr in property, plant and equipment (of which ₹17.80 cr was land), plus ₹13.37 cr in capital work-in-progress.^[1]

Recent developments

Listed on NSE Emerge on April 7, 2026. The IPO proceeds were received after the FY26 year-end.^[1]
Acquired 99% of the Mechtech Infrasolutions partnership for ₹99 lakh, paid in cash through a capital contribution. Mechtech is a Siemens SIEPAN 8PU licensed partner and plans to make LT/HT and control panels.^[4]
At the Q4 FY26 call, management said it was targeting about 35-40% revenue growth in FY27.^[3]

Market Cap

₹1,053 Cr

High / Low

₹1,990 / 556

Stock P/E

38.1

Price / Book

0.0

Book Value

₹105

EPS

₹45.1

No. of Shares

0.7 Cr

ROCE

42.0%

ROE

43.1%

OPM

22.3%

Debt / Equity

0.45

Sales

₹200 Cr

Net Profit

₹32 Cr

Promoter holding

73.5%

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