Vivo Collaboration Solutions Limited (VIVO)
Latest quarterly results (H2 FY26)
In its latest reported quarter, H2 FY26, Vivo Collaboration's revenue was ₹3.2 Cr (+273.6% year on year), and net profit ₹1.2 Cr (against a loss a year earlier); the operating margin was 32.9%.
| H2 FY26 (₹ Cr) | Value | YoY vs H2 FY25 | vs prev. half |
|---|---|---|---|
| Revenue | ₹3.2 | +273.6% | — |
| Operating profit | ₹1.1 | from loss | from loss |
| Net profit | ₹1.2 | from loss | from loss |
| EPS (₹) | 5.81 | from loss | from loss |
| Operating margin | 32.9% | — | — |
📢 Recent Corporate Announcements
Vivo Collaboration Solutions has allotted 22,00,000 fully convertible warrants on a preferential basis at an issue price of ₹77 per warrant, aggregating up to ₹16.94 crore. The company received the upfront 25% subscription money amounting to ₹4.24 crore, with the remaining 75% payable within 18 months upon conversion. The total fundraise represents ~56% of the company's current market cap of ₹30 crore and almost triples its net worth of ₹11 crore. Warrants were allotted to promoters and public investors, including Managing Director Sanjay Mittal and FE Securities.
- Allotment of 22,00,000 convertible warrants at ₹77 per warrant, aggregating up to ₹16.94 crore
- Upfront 25% subscription amount of ₹4,23,50,000 (₹19.25 per warrant) received by the company
- Balance 75% (₹57.75 per warrant) receivable within 18 months upon conversion into equity shares
- Promoter entity UC IT Managed Services allotted 6,00,000 warrants, and promoter group Sanjay Mittal allotted 4,00,000 warrants
- Warrant issue price of ₹77 is at a sharp discount to the latest trading market price of ₹151.1
Vivo Collaboration Solutions issued a corrigendum to its 15th AGM notice detailing the proposed preferential issue of convertible share warrants. A total of 22,00,000 warrants are proposed to be allotted across promoter and non-promoter entities. Promoters UC IT Managed Services Private Limited and Sanjay Mittal will be allotted 6,00,000 and 4,00,000 warrants, adjusting total promoter holding to 58.81% post-conversion from 73.40% pre-issue. Non-promoter allottees include FE Securities Private Limited (4,80,000 warrants / 11.39% post-issue) and individual investors.
- Proposed preferential issue of 22,00,000 convertible share warrants across 10 allottees.
- Promoter UC IT Managed Services to receive 6,00,000 warrants, reducing stake to 49.32% post-issue from 73.40%.
- Promoter Sanjay Mittal to receive 4,00,000 warrants, representing a 9.49% post-issue stake.
- Non-promoter FE Securities Private Limited proposed to receive 4,80,000 warrants (11.39% post-issue stake).
- Pre-issue equity base of ~20.15 lakh shares expands to ~42.15 lakh shares upon full warrant conversion.
Vivo Collaboration Solutions announced the voting results of its 15th AGM held on August 21, 2026, where all 8 resolutions were approved with 100% votes in favor. Key approvals include the issuance of convertible share warrants on a preferential basis to promoters and non-promoters, alongside an increase in authorized share capital. Shareholders also re-appointed Sanjay Mittal as Managing Director for a second 5-year term and appointed Rishi Gupta as Non-Executive Director. Total voter turnout stood at 76.10% of the 20,15,000 total shares.
- Shareholders approved the issuance of convertible share warrants on preferential basis to promoters and non-promoters
- Increase in authorized share capital and alteration of the MOA capital clause approved
- All 8 resolutions passed with 100% approval on 15,33,399 total votes polled
- Re-appointment of Sanjay Mittal as Managing Director approved for a 5-year term
- Total voter turnout recorded at 76.10% across 167 total shareholders on record
Vivo Collaboration Solutions Limited conducted its 15th Annual General Meeting (AGM) on August 21, 2026. Key items tabled for shareholder approval included the adoption of FY26 financial statements, the re-appointment of Managing Director Sanjay Mittal for 5 years, and an increase in authorized share capital. Additionally, shareholders voted on a proposal to issue convertible share warrants on a preferential basis to promoters and non-promoters. Final consolidated voting results are scheduled to be declared on or before August 25, 2026.
- 15th AGM concluded via Video Conferencing on August 21, 2026
- Special business included the issuance of convertible share warrants on a preferential basis to promoters and non-promoters
- Proposed increase in Authorized Share Capital and alteration of Capital Clause of MoA
- Re-appointment of Managing Director Sanjay Mittal for a 5-year consecutive term placed for shareholder vote
- Consolidated e-voting and meeting voting results to be disclosed on or before August 25, 2026
Vivo Collaboration Solutions has scheduled its 15th Annual General Meeting for August 21, 2026, to approve FY26 financials and the re-appointment of MD Sanjay Mittal for a 5-year term. The company is aggressively pivoting from legacy IT services, which saw a 66.4% YoY revenue decline, to designing proprietary EV chargers and solar inverters. While TTM revenue is low at Rs 6 Cr with a net loss of Rs 2 Cr, management expects a 'Proof of Concept' for new power electronics in H2 FY27. The company is targeting an Indian EV charging market projected to reach Rs 21,940 crore by 2030.
- 15th Annual General Meeting scheduled for August 21, 2026, at 3:00 PM via video conferencing
- Proposed re-appointment of Sanjay Mittal as Managing Director for a second 5-year term
- Targeting the Indian EV charging market, which is predicted to grow at a 28.50% CAGR from 2025 to 2030
- Anticipated 'Proof of Concept' for new power electronics products in H2 FY 2026-27
- TTM revenue of Rs 6 Cr vs a net loss of Rs 2 Cr, reflecting the need for the business model pivot
Financial Performance
Revenue Growth by Segment
IT Services revenue fell 66.4% YoY from INR 2.59 Cr in H1 FY25 to INR 0.87 Cr in H1 FY26. Segment reporting is not applicable as the company operates in only one segment.
Geographic Revenue Split
100% India-based operations, primarily managed from the registered office in New Delhi.
Profitability Margins
Net Margin declined significantly from -48.8% in H1 FY25 to -233% in H1 FY26 due to a sharp revenue drop while fixed costs remained high.
EBITDA Margin
EBITDA Margin for H1 FY26 was -228.8%, reflecting core operational losses of INR 1.99 Cr on a revenue base of INR 0.87 Cr.
Capital Expenditure
Historical Capex includes INR 0.016 Cr in H1 FY26 and INR 0.069 Cr in FY25 for property, plant, and equipment.
Credit Rating & Borrowing
Credit rating not disclosed. Long-term borrowings were minimal at INR 0.009 Cr as of March 31, 2025.
Operational Drivers
Raw Materials
Inverter hardware components and renewable power design resources (specific % of total cost not disclosed).
Import Sources
International markets (implied by the company's strategy to replace imported hardware with domestic designs).
Key Suppliers
UC IT Managed Services Private Limited (Parent Company and major related party).
Capacity Expansion
Current installed capacity not disclosed for IT services; planned expansion into renewable power hardware design is currently in the project phase.
Raw Material Costs
Purchases of stock-in-trade and services fell 100% YoY to INR 0 in H1 FY26 from INR 0.96 Cr in H1 FY25, indicating a halt in procurement activity.
Manufacturing Efficiency
Not disclosed for IT services; pivot to hardware design is in early stages.
Strategic Growth
Growth Strategy
Pivoting from legacy IT services to designing proprietary inverter hardware and renewable power products to replace imports; utilizing IPO proceeds (INR 4.39 Cr) for working capital (INR 2.67 Cr fully utilized).
Products & Services
IT Services, Cloud Collaboration Solutions, and originally designed Inverter Hardware.
Brand Portfolio
VIVO, VIVO Collaboration.
New Products/Services
Renewable power products and inverter hardware; expected revenue contribution % not yet realized.
Market Expansion
Targeting the Indian renewable energy sector with a focus on import substitution.
External Factors
Industry Trends
IT services industry is facing stagnation (17.9% decline in FY25); future direction is shifting toward sustainable energy and integrated collaboration hardware.
Competitive Landscape
Competes with domestic IT service providers and international hardware importers.
Competitive Moat
Limited moat in legacy IT services; company is attempting to build a moat through proprietary inverter designs and import substitution.
Macro Economic Sensitivity
Highly sensitive to domestic IT spending and government policies regarding renewable energy and import duties.
Consumer Behavior
Increasing consumer and corporate demand for sustainable and locally manufactured power solutions.
Geopolitical Risks
Import substitution trends in India provide a favorable environment for the company's shift to domestic hardware design.
Regulatory & Governance
Industry Regulations
Compliance with SEBI (LODR) Regulations, 2015 and the Companies Act, 2013.
Taxation Policy Impact
Standard corporate tax rates apply; deferred tax assets of INR 0.0025 Cr recognized in H1 FY26.
Legal Contingencies
NSE penalty of INR 0.0000236 Cr (INR 2,360) paid on November 18, 2025, for non-compliance with SEBI Regulation 34.
Risk Analysis
Key Uncertainties
Sustainability of operations given a 66.4% revenue decline and a net loss (INR 2.03 Cr) that is 2.3x the total revenue in H1 FY26.
Geographic Concentration Risk
100% revenue concentration in the Indian market.
Third Party Dependencies
73.40% promoter holding by UC IT Managed Services Private Limited indicates high dependency on parent company support.
Technology Obsolescence Risk
High risk of obsolescence in legacy cloud telephony; company is mitigating this by diversifying into renewable energy hardware.
Credit & Counterparty Risk
Trade receivables dropped 99% to INR 0.0013 Cr in Sept 2025 from INR 0.168 Cr in March 2025, indicating low credit exposure but also minimal sales activity.
