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📊 Last 7 days — analysed filings by sentiment
Note: These are AI-generated, educational summaries of public NSE
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21 announcements match the current filters (relevance ≥ 5).
Viviana Power Tech Wins ₹9.74 Cr Turnkey Contract from GETCO
Viviana Power Tech Limited has secured a turnkey order worth ₹9.74 crore (inclusive of taxes) from existing client Gujarat Energy Transmission Corporation Limited (GETCO). The project involves laying, erection, testing, and commissioning of 66kV XLPE cables for Package-2 in the Rajkot Zone, with an execution timeline of 24 months. While the order is modest relative to TTM revenue of ₹690 crore (~1.4%), the company noted that its unexecuted order book now stands at over ₹1,700 crore.
Confidence: HIGH
What changedViviana Power Tech secured a ₹9.74 crore turnkey cable contract from state utility GETCO for the Rajkot Zone.
Why it mattersStrengthens ongoing ties with key client GETCO and adds incremental execution visibility, taking the total order book above ₹1,700 crore.
Order value: Rs. 9,74,02,648.00Execution period: 24 MonthsOrder vs TTM revenue: ~1.4%Total unexecuted order book: Over Rs. 1,700.00 Crore
📅 Short termMarginally positive sentiment from ongoing order inflow, though the single contract size is small relative to annual sales.
📈 Long termReinforces the company's established presence in Gujarat's power transmission EPC market, supporting execution of its substantial order backlog.
⚠ Risk flags
- Client concentration with recurring reliance on state utilities like GETCO
- Extended 24-month execution cycle exposing project to cost variations
Key Highlights
Awarded ₹9,74,02,648.00 turnkey contract from GETCO (inclusive of taxes)
Execution timeline set at 24 months from the Letter of Award (LOA)
Scope covers 66kV XLPE cable laying, erection, testing, and commissioning in Rajkot Zone
Total unexecuted order book reported at over ₹1,700.00 Crore
👀 What to Watch
Track quarterly revenue conversion and execution milestones over the 24-month project timeline, alongside broader delivery on the company's ₹1,700+ crore order backlog.
Viviana Power Tech Emerges L1 Bidder for ₹275.05 Cr MGVCL Power Distribution Project
Viviana Power Tech Limited has been confirmed as the L1 stage successful bidder for a ₹275.05 Crore contract under MGVCL's SI Scheme – ROBUST-III. The scope includes supply, installation, and conversion of existing 11 KV open lines to MVCC overhead conductor and underground network in Gujarat (Borsad, Nadiad City, and Baroda districts). This bid win constitutes approximately 39.9% of the company's TTM revenue (₹690 Cr) and expands its total unexecuted project order book to over ₹1,700 Crore.
Confidence: HIGH
What changedViviana Power Tech secured L1 bidder status for a major ₹275.05 Cr distribution modernization project under MGVCL.
Why it mattersThe ₹275.05 Cr project adds significant revenue visibility, pushing the total unexecuted order pipeline past ₹1,700 Cr against an annualized revenue base of ₹690 Cr.
Bid Amount (L1): Rs. 275.05 CrTotal Unexecuted Order Book: over Rs. 1,700.00 CroreBid value vs TTM Revenue: ~39.9%Bid value vs Market Cap: ~42.2%
📅 Short termPositive sentiment expected upon official receipt of the Letter of Award (LoA) and formal contract signing.
📈 Long termStrengthens multi-year revenue visibility with an order book >2.4x TTM revenue, establishing stronger execution credentials in power distribution modernization.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Pending receipt of final Letter of Intent / Award (LoA)
- Execution and working capital risks typical of large tender-based turnkey EPC projects
- Client concentration with Gujarat state power utilities
Key Highlights
Confirmed as L1 successful bidder for a project valued at ₹275.05 Crore
Scope covers 11 KV line conversion to MVCC and underground network across Borsad, Nadiad City, and Baroda under MGVCL
Total unexecuted project value reaches over ₹1,700.00 Crore
Order value accounts for ~39.9% of TTM revenue (₹690 Cr)
👀 What to Watch
Track the formal receipt of the Letter of Intent/Award (LoI/LoA) and detailed disclosures on execution timelines and margin profile.
₹77.79 Cr L1 Bid Win for Viviana Power Tech from MGVCL; Total Order Book Tops ₹1,400 Cr
Viviana Power Tech Limited has emerged as the successful L1 bidder for a ₹77.79 Crore EPC project under MGVCL for converting 11 KV open lines to MVCC conductors and underground cabling in Anand City. This order win represents approximately 11.3% of the company's TTM revenue of ₹690 Crore. With this and recent awards/L1 positions, the company's total unexecuted order book has surpassed ₹1,400 Crore, representing more than 2x TTM revenue. Formal project terms and disclosures will follow upon receipt of the Letter of Intent/Award.
Confidence: HIGH
What changedViviana Power Tech secured L1 bidder status for a ₹77.79 Crore distribution infrastructure contract under MGVCL.
Why it mattersExpands the total unexecuted order book to over ₹1,400 Crore, strengthening multi-year revenue visibility relative to its ₹656 Crore market capitalization.
L1 Bid Value: Rs. 77.79 CrOrder vs TTM revenue: ~11.3%Total Unexecuted Order Book: over Rs. 1,400.00 CroreTTM Revenue: Rs 690 Cr
📅 Short termProvides positive operational momentum; formal receipt of the Letter of Award will confirm the definitive contract execution.
📈 Long termAn order pipeline exceeding ₹1,400 Crore reinforces the company's regional execution moat in high-voltage power transmission and distribution projects.
⚠ Risk flags
- Final contract pending receipt of formal Letter of Award (LoA)
- Execution risk and raw material price volatility inherent in fixed/tender-based contracts
Key Highlights
Confirmed as L1 bidder for an EPC project valued at ₹77.79 Crore under MGVCL's SI Scheme ROBUST-III
Scope includes conversion of HT O/H 11 KV open line (55sqmm/100sqmm) to MVCC overhead conductor and underground cabling in Anand City & O&M division
Total unexecuted order book exceeds ₹1,400.00 Crore including new project awards and L1 positions
Order value of ₹77.79 Crore equals ~11.3% of TTM revenue (₹690 Crore)
👀 What to Watch
Track the formal issuance of the Letter of Award (LoA) from MGVCL and project execution milestones in upcoming quarterly earnings updates.
Viviana Completes Divestment of 90% Stake in Viviana Life Spaces & 75% Stake in Aarsh Transformers
Viviana Power Tech Limited has completed the disinvestment in two of its subsidiary companies: Viviana Life Spaces Private Limited (in which it held a 90% stake) and Aarsh Transformers Private Limited (in which it held a 75% stake). The equity shares have been transferred to the identified purchasers upon receipt of the agreed consideration. Consequently, both entities ceased to be subsidiaries of the company with effect from August 15, 2026. The transaction follows the prior disclosure dated August 04, 2026, and concludes the divestment process.
Confidence: MEDIUM
What changedViviana Power Tech has fully transferred its 90% stake in Viviana Life Spaces and 75% stake in Aarsh Transformers, ending their subsidiary status as of August 15, 2026.
Why it mattersThe divestment helps streamline operations by exiting non-core holdings (real estate/transformers) to focus capital and resources on core power transmission EPC and battery energy storage (BESS) segments.
Stake in Viviana Life Spaces sold: 90%Stake in Aarsh Transformers sold: 75%Effective date of cessation: 15-Aug-2026Transaction consideration: not disclosed
📅 Short termNeutral; completion of a previously intimated corporate action with minimal operational disruption.
📈 Long termEnables corporate refocus on high-ROCE core transmission EPC and high-margin energy storage opportunities without capital distraction from non-core ventures.
⚠ Risk flags
- Financial consideration and profit/loss on disposal not disclosed in the filing
- Loss of revenue previously contributed by these subsidiaries
Key Highlights
Completed sale of 90% equity stake in Viviana Life Spaces Private Limited
Completed sale of 75% equity stake in Aarsh Transformers Private Limited
Both companies ceased to be subsidiaries effective August 15, 2026
Shares transferred and consideration received in line with prior intimation dated August 04, 2026
👀 What to Watch
Track the upcoming quarterly financial results for details on cash proceeds received, exceptional gains/losses, and the deconsolidation impact on top-line growth.
246% YoY Revenue Growth in Q1 FY27; Divesting Non-Core Assets to Focus on Power EPC
Viviana Power Tech reported a strong Q1 FY27 with revenue surging 246% YoY to ₹71.86 cr and PAT reaching ₹6.93 cr. The company is strategically divesting its real estate and distribution transformer subsidiaries to focus exclusively on high-voltage power infrastructure and the new Battery Energy Storage Systems (BESS) segment. Management highlighted a massive pipeline with ₹1,400 cr in bids under evaluation and ₹2,600 cr in active tenders, significantly exceeding its TTM revenue of ₹649 cr. The BESS segment is projected to add ₹40 cr in annual revenue with high EBITDA margins of approximately 80%.
Confidence: HIGH
What changedThe company is transitioning from a diversified group to a pure-play power infrastructure firm by divesting its real estate and small-scale transformer units.
Why it mattersThis restructuring simplifies the balance sheet and focuses capital on high-margin, high-voltage (400KV) power projects and green energy storage, which are core growth drivers.
Q1 FY27 Revenue Growth (YoY): 246%Bids under evaluation: ₹1,400 crBids vs TTM Revenue: 215%Active tender participation: ₹2,600 crBESS Revenue Target: ₹40 crL1 Position (Single Tender): ₹100 cr
📅 Short termPositive sentiment expected due to robust YoY growth and clarity on non-core divestments, though sequential revenue is lower than the outlier Mar-26 quarter.
📈 Long termStructural shift towards high-voltage EPC and BESS could re-rate the business if the massive bid pipeline converts to high-margin execution.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Tender-based business model with limited pricing power
- High client concentration (GETCO, Adani, Torrent)
- Execution risk in the new BESS segment
Key Highlights
Q1 FY27 revenue grew 246% YoY to ₹71.86 cr with EBITDA margins exceeding 16%.
Order pipeline includes ₹1,400 cr of bids under evaluation and ₹2,600 cr in active tender participation.
BESS segment targeted to generate ₹40 cr annual revenue with estimated 80% EBITDA margins.
Divesting Viviana Life Spaces and Aarsh Transformers to eliminate conglomerate discount and focus on core EPC.
Collected ₹40+ cr in receivables during July 2026, improving liquidity post-quarter end.
👀 What to Watch
Monitor the conversion rate of the ₹1,400 cr 'under evaluation' pipeline into firm orders and the execution timeline for the in-house power transformer facility.
Rs 113 Cr L1 Bid Confirmation for Power Distribution Projects
Viviana Power Tech has been declared the L1 (lowest) bidder for two power distribution projects totaling Rs 113 crore, including taxes. The projects involve converting 11 KV open lines to MVCC overhead conductors and underground networking for MGVCL in Gujarat. This win significantly bolsters the company's unexecuted order book, which now stands at over Rs 1,400 crore. This order book is approximately 2.15x the company's TTM revenue of Rs 649 crore, providing strong revenue visibility.
Confidence: HIGH
What changedViviana has secured L1 status for a new Rs 113 crore contract, further expanding its project pipeline in the power EPC segment.
Why it mattersThe order represents approximately 17.4% of TTM revenue and contributes to a massive order book that is now more than double the company's annual revenue and market capitalization.
Bid Amount: Rs 113 CrTotal Order Book: > Rs 1400 CrBid vs TTM Revenue: 17.4%Order Book vs TTM Revenue: 215.5%TTM Revenue: Rs 649 Cr
📅 Short termPositive sentiment is expected as the L1 status confirms the company's competitive bidding success and order book growth.
📈 Long termThe substantial order book of >Rs 1,400 crore provides a multi-year growth runway, though execution efficiency will be key to maintaining the high 51% ROCE.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- L1 status is not a final contract award
- Tender-based operations may face margin pressure
- Execution risk in underground networking projects
Key Highlights
Declared L1 bidder for projects worth Rs 113 crore inclusive of taxes
Total unexecuted order book reaches a milestone of over Rs 1,400 crore
Project scope includes conversion of 11 KV open lines to MVCC and underground networking
Client is MGVCL under the SI Scheme ROBUST-III for Petlad and Nadiad divisions
👀 What to Watch
Monitor the receipt of the formal Letter of Intent (LoI) and the subsequent execution timeline to estimate quarterly revenue contributions.
Viviana Power Tech Reports Rs 1,312 Cr Order Book and Strategic Divestment of Subsidiaries
Viviana Power Tech has announced a major strategic restructuring to divest its 90% stake in Viviana Life Spaces (Real Estate) and 75% stake in Aarsh Transformers. The company aims to focus on its core EPC power infrastructure business and integrate transformer manufacturing directly into the parent entity. Crucially, the company disclosed a robust order book of Rs 1,312.53 crore, which is approximately 2x its TTM revenue of Rs 649 crore, providing significant revenue visibility. The shift also prioritizes the new Battery Energy Storage Systems (BESS) segment, which is expected to contribute Rs 40 crore annually.
Confidence: HIGH
What changedThe company is exiting its non-core real estate business and restructuring its transformer manufacturing subsidiary to become a more focused power-sector EPC player.
Why it mattersThis move simplifies the corporate structure, potentially reducing conglomerate discount, and aligns capital toward high-growth energy transition segments like BESS and EHV transmission.
Order Book: Rs 1,312.53 CrOrder Book vs TTM Revenue: 202.2%TTM Revenue: Rs 649 CrBESS Revenue Target: Rs 40 CrStake Divestment (Life Spaces): 90%
📅 Short termThe disclosure of an order book twice the size of annual revenue is likely to be viewed positively by the market in the coming weeks.
📈 Long termThe transition to a focused power-infrastructure entity with a massive order pipeline and entry into energy storage (BESS) positions the company for structural growth over the next 2-3 years.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution risk of a large order book relative to current capacity
- High client concentration with utilities like GETCO and Adani
- Tender-based nature of business limits pricing power
Key Highlights
Current order book stands at Rs 1,312.53 crore, representing ~202% of TTM revenue
Divesting 90% stake in real estate subsidiary Viviana Life Spaces Private Limited to sharpen core focus
Divesting 75% stake in Aarsh Transformers Private Limited to integrate manufacturing capabilities directly
Targeting Rs 40 crore annual revenue from the new BESS segment with estimated 80% EBITDA margins
Management maintains a 5-year CAGR of 57% and plans to reach Rs 350 crore revenue in FY26 (standalone basis)
👀 What to Watch
Investors should monitor the execution timeline of the Rs 1,312 crore order book and the successful integration of transformer manufacturing to see if margins improve as expected.
₹1,312 Cr Order Book and Strategic Divestment of Real Estate & Transformer Subsidiaries
Viviana Power Tech has announced a major strategic restructuring to divest its 90% stake in Viviana Life Spaces (Real Estate) and 75% stake in Aarsh Transformers to focus on core EPC and energy transition. The company revealed a robust order book of ₹1,312.53 crore, which is approximately 202% of its TTM revenue of ₹649 crore, providing significant revenue visibility. The restructuring aims to simplify the corporate structure and integrate transformer manufacturing directly into the parent company for better operational control. Management is also pivoting towards high-margin Battery Energy Storage Systems (BESS) with a ₹40 crore annual revenue target.
Confidence: HIGH
What changedThe company is exiting its non-core real estate business and restructuring its transformer manufacturing to focus exclusively on power EPC and energy storage.
Why it mattersThis move reduces conglomerate complexity and focuses management attention on the high-growth power sector where the company has a massive order book relative to its current size.
Order Book: ₹1,312.53 CrOrder Book vs TTM Revenue: 202%BESS Revenue Target: ₹40 CrReal Estate Divestment Stake: 90%Transformer Divestment Stake: 75%
📅 Short termThe disclosure of an order book twice the size of annual revenue is likely to be viewed positively by the market in the coming weeks.
📈 Long termIf the company successfully executes its ₹1,312 Cr pipeline and scales the BESS segment, it could represent a significant structural scale-up from its current revenue base.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution risk of a large order book relative to current capacity
- Tender-based nature of operations limits pricing power
- Client concentration with major utilities like GETCO and Adani
Key Highlights
Current order book stands at ₹1,312.53 crore, providing over 2 years of revenue visibility based on TTM sales.
Strategic divestment of 90% stake in real estate subsidiary and 75% in transformer manufacturing subsidiary.
Targeting ₹40 crore annual revenue from the new BESS segment with estimated 80% EBITDA margins.
Company has successfully completed 80+ projects over 11+ years in the power transmission sector.
Net Capital Turnover surged 293% to 22.46x in FY25, indicating high working capital efficiency.
👀 What to Watch
Watch for the execution timeline of the ₹1,312 crore order book and the formal completion of the subsidiary divestments to ensure capital is successfully redeployed into the BESS segment.
246% Revenue Growth in Q1 FY27; Viviana to Divest Real Estate & Transformer Subsidiaries
Viviana Power Tech reported a robust start to FY27, with Q1 revenue surging 246% YoY to ₹71.86 crore and PAT increasing 232% to ₹6.93 crore. The company maintained healthy profitability with an EBITDA margin of 16.08% and a PAT margin of 9.65%. In a major strategic shift, the board approved the disinvestment of its 90% stake in Viviana Life Spaces (Real Estate) and 75% stake in Aarsh Transformers to focus on core EPC and BESS segments. This restructuring aims to streamline capital allocation and integrate transformer manufacturing directly into the parent company for better operational control.
Confidence: HIGH
What changedThe company reported triple-digit growth in its quarterly financials and initiated a strategic restructuring to exit non-core real estate and separate transformer manufacturing into the parent entity.
Why it mattersExiting the real estate business reduces diversification risk and allows the company to focus capital on its high-ROCE (51%) power EPC business. Integrating transformer manufacturing is intended to enhance supply chain control and execution speed.
Q1 FY27 Revenue: ₹71.86 crYoY Revenue Growth: 246%Q1 FY27 PAT: ₹6.93 crEBITDA Margin: 16.08%Stake to be divested in Viviana Life Spaces: 90%Stake to be divested in Aarsh Transformers: 75%
📅 Short termThe strong earnings growth and strategic clarity regarding non-core assets are likely to be viewed positively by the market in the coming weeks.
📈 Long termThe shift towards a pure-play energy infrastructure and storage company could lead to a re-rating if the BESS segment scales as projected and the company maintains its high capital efficiency.
⚠ Risk flags
- Tender-based business model limits pricing power
- High client concentration (GETCO, Adani, Torrent)
- Execution risk in the new BESS segment
Key Highlights
Revenue from operations grew 246% YoY to ₹71.86 crore in Q1 FY27 compared to ₹20.78 crore in Q1 FY26.
Net Profit (PAT) increased 232% YoY to ₹6.93 crore, resulting in an EPS of ₹6.85.
EBITDA rose 232% YoY to ₹11.56 crore with a margin of 16.08%.
Board approved the sale of 90% stake in Viviana Life Spaces and 75% stake in Aarsh Transformers.
Management aims to focus on the Battery Energy Storage Systems (BESS) segment, projected to add ₹40 Cr annually.
👀 What to Watch
Investors should monitor the definitive agreements and regulatory approvals for the subsidiary disinvestments. The key execution milestone to watch is the integration of transformer manufacturing and the formal launch of the BESS segment, which carries high projected EBITDA margins of 80%.
VIVIANA Q1 PAT Jumps 112% YoY to ₹6.93 Cr; Divesting Non-Core Real Estate Subsidiary
Viviana Power Tech reported a strong start to FY27 with Q1 revenue growing 127% YoY to ₹71.86 Cr and Net Profit rising 112% to ₹6.93 Cr. The Board approved the divestment of its 90% stake in Viviana Life Spaces (real estate) to a promoter and its 75% stake in Aarsh Transformers to a third party. These strategic moves aim to refocus resources on core EPC operations and integrate transformer manufacturing directly into the parent company. While margins saw a slight YoY compression from 16.75% to 16.08%, the overall growth trajectory remains robust.
Confidence: HIGH
What changedThe company reported significant YoY earnings growth and initiated a corporate restructuring to exit non-core real estate and integrate transformer manufacturing directly.
Why it mattersThe restructuring allows the management to focus exclusively on high-voltage EPC and green energy storage (BESS), while the strong Q1 results validate the company's aggressive growth strategy in the power transmission sector.
Q1 Revenue: ₹71.86 CrQ1 PAT: ₹6.93 CrYoY Revenue Growth: 126.8%Operating Margin: 16.08%Divestment Completion Date: 31st December, 2026
📅 Short termThe stock is likely to react positively to the triple-digit growth in revenue and profit, alongside the strategic clarity provided by the divestment of non-core assets.
📈 Long termThe shift toward vertical integration of transformer manufacturing and focus on core EPC/BESS segments supports the company's 60% expected growth rate and high capital efficiency.
⚠ Risk flags
- Related-party transaction (sale of subsidiary to promoter)
- Tender-based business model limits pricing power
- Slight YoY compression in operating margins
Key Highlights
Revenue from operations surged 126.8% YoY to ₹71.86 Cr in Q1 FY27 compared to ₹31.68 Cr in Q1 FY26.
Net Profit (PAT) increased 112.2% YoY to ₹6.93 Cr from ₹3.27 Cr in the same period last year.
Divesting 90% stake in Viviana Life Spaces Pvt Ltd to promoter Mrs. Priyanka Richi Choksi to exit non-core real estate.
Divesting 75% stake in Aarsh Transformers Pvt Ltd, which contributed 1.75% to FY26 consolidated revenue.
Operating margin remained healthy at 16.08%, though slightly lower than the 16.75% recorded in Q1 FY26.
👀 What to Watch
Investors should monitor the successful completion of the subsidiary divestments by the December 31, 2026 deadline. Key focus should remain on the company's ability to maintain its high ROCE (51%) as it scales toward its stated FY26 revenue target of ₹350 Cr and integrates the BESS segment.
Rs 128.35 Cr Order Win from PGVCL for 11 KV MVCC Projects
Viviana Power Tech Limited has received formal turnkey contracts totaling Rs 128.35 Cr from its existing client, Paschim Gujarat Vij Company Limited (PGVCL). The scope includes the supply, installation, and commissioning of 11 KV Medium Voltage Covered Conductor (MVCC) systems in the Bhuj and Rajkot Rural Circles. This order represents approximately 19.8% of the company's TTM revenue of Rs 649 Cr, providing significant revenue visibility for the next 12 months. The execution timeline is strictly set for one year from the date of the Letter of Award.
Confidence: HIGH
What changedThe company has transitioned from a general order book announcement to receiving formal, binding work orders for specific projects totaling Rs 128.35 Cr.
Why it mattersThis win reinforces the company's relationship with a key state utility (PGVCL) and contributes significantly toward its stated goal of reaching Rs 350 Cr revenue in FY26.
Order Value: Rs 128.35 CrOrder vs TTM Revenue: ~19.8%Execution Period: 12 MonthsTTM Revenue: Rs 649 CrMarket Cap: Rs 645 Cr
📅 Short termThe stock may see positive sentiment as the formalization of this large order confirms revenue visibility for the upcoming fiscal year.
📈 Long termConsistent wins from state utilities like PGVCL validate the company's technical expertise in 400KV systems and support its high ROCE (51.0%) profile.
⚠ Risk flags
- Execution risk within the 12-month timeframe
- Client concentration risk (PGVCL)
- Tender-based pricing pressure
Key Highlights
Aggregate contract value of Rs 128,34,96,353.00 inclusive of taxes.
Execution timeline of 12 months from the date of Letter of Award (LOA).
Order involves 11 KV Medium Voltage Covered Conductor (MVCC) systems under the System Improvement (SI) Scheme.
Projects cover various divisions within PGVCL's Bhuj Circle and Rajkot Rural Circle.
Order value was previously included in the order book disclosure dated July 21, 2026.
👀 What to Watch
Investors should monitor the execution timeline over the next four quarters to ensure revenue recognition aligns with the 12-month schedule. Watch for operating margins in upcoming results to see if the tender-based pricing maintains the TTM OPM of 13.8%.
Rs 1,340 Cr Order Book: Viviana Power Tech Commissions 400kV Line for 323.4 MW Wind Park
Viviana Power Tech successfully commissioned a 400 kV Double-Circuit LILO transmission line for a 323.4 MW wind park in Gujarat on July 10, 2026. The project demonstrated high technical capability, involving a 765 kV under-crossing and live-line stringing to avoid grid shutdowns. Most significantly, the company disclosed a confirmed order book of ~Rs 1,340 crore, which is approximately 2.06x its TTM revenue of Rs 649 crore. With an additional ~Rs 936 crore in bids under evaluation and a Rs 2,500+ crore tender pipeline, the company has established strong revenue visibility for the coming years.
Confidence: HIGH
What changedThe company successfully completed a high-complexity 400kV project and provided a material update on its order book, which has grown significantly relative to its historical revenue.
Why it mattersThe successful execution of 400kV and 765kV crossings proves technical eligibility for larger utility-scale projects. The Rs 1,340 crore order book provides over two years of revenue visibility based on current TTM figures.
Confirmed Order Book: Rs 1,340 CrOrder Book vs TTM Revenue: ~206%Wind Park Capacity: 323.4 MWBids under evaluation: Rs 936 CrIdentified Tenders: Rs 2,500+ Cr
📅 Short termThe stock may see positive sentiment driven by the technical milestone and the disclosure of an order book that is twice the company's current annual revenue.
📈 Long termThe company is transitioning from a small-scale EPC player to a significant transmission infrastructure partner with a massive order pipeline and entry into high-margin BESS segments.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution risk in high-voltage live-line stringing
- Tender-based business model with limited pricing power
- High client concentration with major utilities
Key Highlights
Commissioned 400 kV D/C LILO transmission line for a 323.4 MW wind park in Kachchh, Gujarat
Confirmed order book (including BESS) stands at ~Rs 1,340 crore as of July 21, 2026
Successfully executed a 765 kV under-crossing and a ±500 kV HVDC under-crossing using a 100 MT crane
Bids submitted and currently under client evaluation total ~Rs 936 crore
Identified future tenders for potential participation exceed Rs 2,500 crore
👀 What to Watch
Monitor the conversion rate of the Rs 936 crore bid pipeline into firm orders and the execution progress of the BESS segment, which is expected to carry higher margins.
₹71.39 Cr Turnkey Order Win from PGVCL for Underground Cabling Project
Viviana Power Tech has secured a new turnkey contract worth ₹71.39 crore from existing client Paschim Gujarat Vij Company Limited (PGVCL). The project involves converting existing 11 kV HT and LT overhead lines into an underground cable network with a Ring Main System. This order represents approximately 11% of the company's TTM revenue of ₹649 crore and is to be executed over 18 months. The win strengthens the company's order book and reinforces its relationship with major Gujarat-based power utilities.
Confidence: HIGH
What changedViviana Power Tech has added a ₹71.39 crore domestic order to its EPC portfolio, specifically in the underground cabling segment.
Why it mattersThe order provides revenue visibility for the next six quarters and demonstrates the company's technical capability in high-voltage distribution systems, which is a key part of its growth strategy.
Order Value: ₹71.39 CrExecution Period: 18 MonthsOrder vs TTM Revenue: ~11%Order vs Net Worth: ~62.6%
📅 Short termThe announcement is likely to be viewed positively by the market as it confirms continued order flow from established utility clients.
📈 Long termConsistent wins in the underground cabling segment support the company's transition from pure-play EPC to more specialized power infrastructure projects.
⚠ Risk flags
- Client concentration risk (PGVCL)
- Tender-based pricing pressure
- Execution risk within the 18-month timeline
Key Highlights
Awarded a turnkey contract valued at ₹71,38,64,233 inclusive of taxes.
Execution timeline set for 18 months from the date of Letter of Award (LOA).
Order value represents ~11% of the company's TTM revenue of ₹649 crore.
Project focuses on specialized underground cabling for 11 kV HT and LT networks.
Contract awarded by a repeat client, PGVCL, indicating strong relationship sustainability.
👀 What to Watch
Investors should monitor the company's ability to maintain its 13.8% operating margins during the 18-month execution period, given the tender-based nature of the contract.
₹41.50 Cr Turnkey Order Win from DGVCL for Underground Cabling
Viviana Power Tech Limited has secured a new turnkey contract worth ₹41.50 Cr from Dakshin Gujarat Vij Company Limited (DGVCL). The project involves the supply, installation, and commissioning of 11KV underground cables and related infrastructure. This order represents approximately 6.4% of the company's TTM revenue of ₹649 Cr and is to be executed over a 15-month period. The win strengthens the company's position with existing utility clients in the Gujarat region.
Confidence: HIGH
What changedViviana Power Tech has added a ₹41.50 Cr contract to its order book, specifically for underground cabling work in Gujarat.
Why it mattersThe order provides revenue visibility for the next 15 months and reinforces the company's relationship with a key state utility, supporting its FY26 revenue growth targets.
Order value: ₹41.50 CrExecution period: 15 MonthsOrder vs TTM revenue: ~6.4%TTM Revenue: ₹649 Cr
📅 Short termThe announcement is likely to be viewed positively by the market as it demonstrates steady order inflow and business continuity with existing clients.
📈 Long termWhile routine for an EPC player, consistent wins from state utilities are essential for the company to achieve its projected ₹350 Cr revenue target for FY26.
⚠ Risk flags
- Tender-based pricing limits margin expansion
- Execution risk within the 15-month timeline
- Client concentration in the Gujarat utility sector
Key Highlights
Awarded a turnkey contract valued at ₹41,50,36,976 inclusive of taxes
Execution timeline set for 15 months from the date of Letter of Award (LOA)
Scope includes 11KV underground cabling and dismantling work of TCDP/Poles
Contract awarded by existing domestic client Dakshin Gujarat Vij Company Limited (DGVCL)
👀 What to Watch
Investors should monitor the execution progress over the next 5 quarters and observe if the company can maintain its 13.8% OPM given the tender-based nature of the contract.
Viviana Power Outlines Rs 198 Cr BESS Capex and Global Transformer Export Strategy
Viviana Power Tech's Q4 FY26 earnings call highlighted a strategic shift toward Battery Energy Storage Systems (BESS) and global transformer manufacturing. The company is executing a Rs 198 Cr capex for a BESS project in Rajasthan, with financial closure expected imminently following sanctions from Indian Overseas and Canara Bank. Management addressed a high receivable position of Rs 336 Cr, confirming that 50% was recovered by May 2026. The company is also pursuing UL certification to enter the US and Canada transformer markets by the end of the next financial year.
Confidence: HIGH
What changedThe company is transitioning from a pure-play EPC contractor to an integrated player with manufacturing (transformers) and green energy storage (BESS) capabilities.
Why it mattersThe Rs 198 Cr BESS capex is massive relative to the company's Rs 114 Cr net worth (approx 173%), representing a high-stakes pivot into a high-margin technology segment.
BESS Project Capex: Rs 198 CrCapex vs Net Worth: 173.6%Total Receivables: Rs 336 CrCash & Bank Limits: Rs 73.63 CrTTM Revenue: Rs 649 Cr
📅 Short termThe stock may react to the recovery of the remaining 50% of receivables and the finalization of bank sanctions for the Rajasthan project.
📈 Long termIf successful, the diversification into BESS and international transformer markets could significantly expand OPM beyond the current 13.8% and reduce dependency on domestic state utilities.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- High working capital intensity with receivables at ~52% of TTM revenue
- Execution risk in the new BESS segment
- Concentration risk with state utilities like GETCO and RVUNL
Key Highlights
Rs 198 Cr total capex allocated for the Rajasthan BESS project with RVUNL
Rs 336 Cr in receivables reported on the balance sheet, with 50% recovered as of May 2026
Rs 73.63 Cr current cash position including non-fund-based banking limits
Targeting UL certification for transformer exports to US and Canada by end of FY27
Rs 9.20 lakh crore projected investment in India's transmission infrastructure through 2032
👀 What to Watch
Monitor the formal announcement of financial closure for the Rajasthan BESS project and the progress of the 'Viviana Westin' real estate project's contribution to cash flows.
Viviana Power Tech to Host Q4 & FY26 Earnings Call on June 25, 2026
Viviana Power Tech Limited has scheduled an investor and analyst conference call for Thursday, June 25, 2026, at 11:30 AM IST. The call is intended to discuss the company's financial performance for Q4 and the full year FY26, alongside future growth plans. Senior management, including the Managing Director, Whole-Time Director, and CFO, will be present to provide business updates and address investor queries. The meeting will be conducted via the Orim Connect platform with universal dial-in access.
Key Highlights
Earnings conference call scheduled for June 25, 2026, at 11:30 AM IST.
Agenda includes discussion of Q4 and FY26 results and future growth strategies.
Key management participants include MD Nikesh K. Choksi and CFO Dipesh Patel.
Universal dial-in numbers provided are +91 22 6280 1296 and +91 22 7115 8207.
The company specializes in EPC projects for power transmission and distribution up to 400KV.
👀 What to Watch
Investors should attend or review the transcript of the call to understand the company's execution capabilities in the 400KV segment and its revenue guidance for FY27.
Viviana Power Tech Promoters Acquire 10,843 Equity Shares via Open Market
Promoters and Directors of Viviana Power Tech Limited, Mrs. Priyanka Choksi and Mr. Richi Choksi, have increased their holdings in the company through open market purchases. Mrs. Priyanka Choksi acquired 8,742 equity shares, while Mr. Richi Choksi purchased 2,101 equity shares. This insider activity, disclosed under SEBI (Prohibition of Insider Trading) Regulations, typically signals management's confidence in the company's valuation and future growth prospects.
Key Highlights
Promoter Mrs. Priyanka Choksi acquired 8,742 equity shares through the open market.
Promoter Mr. Richi Choksi acquired 2,101 equity shares through the open market.
Total combined acquisition by the promoter group stands at 10,843 equity shares.
The disclosure was filed in compliance with Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015.
👀 What to Watch
Investors should take note of this insider buying as a positive sentiment indicator. It is advisable to monitor if promoters continue to increase their stake, which often reflects internal optimism regarding the company's long-term performance.
Promoters Priyanka and Richi Choksi Acquire 10,843 Shares of Viviana Power Tech
Promoters and Directors of Viviana Power Tech Limited, Mrs. Priyanka Choksi and Mr. Richi Choksi, have increased their stake in the company through open market purchases. Mrs. Priyanka Choksi acquired 8,742 equity shares, while Mr. Richi Choksi acquired 2,101 equity shares. This disclosure, filed under SEBI (SAST) Regulations, indicates insider buying which typically reflects management's confidence in the company's long-term value. The total acquisition amounts to 10,843 shares.
Key Highlights
Mrs. Priyanka Choksi (Promoter/Director) acquired 8,742 equity shares.
Mr. Richi Choksi (Promoter/Director) acquired 2,101 equity shares.
The acquisitions were executed through open market transactions.
Disclosure made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
👀 What to Watch
Investors should take this as a positive signal of promoter confidence; however, given the relatively small volume of shares, it should be weighed alongside broader fundamental performance.
Viviana Power Tech Reports FY26 Revenue of ₹533 Cr and ₹1,000+ Cr Order Book
Viviana Power Tech Limited achieved a record consolidated turnover of ₹533 crore in FY26, marking a 16x revenue growth since its 2022 listing. The company has successfully migrated to the NSE Mainboard and holds a robust order book exceeding ₹1,000 crore. A strategic pivot is underway with a ₹100+ crore capex plan to establish a greenfield transformer manufacturing facility (up to 400 kV) near Vadodara, aiming for vertical integration by FY28.
Key Highlights
Reported FY26 consolidated turnover of ₹533 crore, a 16x increase since September 2022 listing.
Order book reached ₹1,000+ crore by the end of FY26, ensuring strong long-term revenue visibility.
Initiated ₹100+ crore strategic capex to build a greenfield power transformer manufacturing facility.
Successfully migrated from NSE EMERGE to the NSE Mainboard on June 2, 2026, enhancing liquidity.
Projected to maintain a Debt/Equity ratio between 1.0-1.5x despite significant expansion plans.
👀 What to Watch
Investors should view the migration to the mainboard and the massive order book as signs of maturing scale. Monitor the timely execution of the new manufacturing facility, as it represents a shift from a service-based EPC model to a higher-margin integrated manufacturing platform.
Viviana Power Tech to Migrate to NSE Main Board Effective June 02, 2026
Viviana Power Tech Limited has received final approval to migrate its equity shares from the NSE SME (EMERGE) platform to the NSE Main Board. A total of 1,01,24,800 equity shares with a face value of Rs. 10 each will be admitted for trading on the Main Board starting June 02, 2026. This transition is a significant milestone that typically enhances stock liquidity and attracts a broader base of institutional and retail investors due to the reduction in market lot size to one share.
Key Highlights
Migration from NSE SME platform to NSE Main Board effective June 02, 2026.
Total of 1,01,24,800 equity shares of Rs. 10 each to be listed on the Capital Market Segment.
Market lot size will be reduced to 1 share, facilitating easier retail participation.
Certain shares (approx. 52,700) remain under lock-in until May 31, 2027.
The company operates in the EPC space for power transmission and distribution up to 400KV systems.
👀 What to Watch
Investors should view this as a positive sign of company maturity and improved liquidity; however, they should continue to monitor the company's fundamental performance in the EPC power sector.
