Annual reportMar 2026
Annual report · Viviana Power Tech Limited has informed the Exchange regarding 'Letter to shareholders containing the web-link of the Notice and Annual Report for 12th Annual General Meeting'.
Source: Nse
Viviana Power Tech Ltd. (VIVIANA)
SME CapPower stocks · SME cap · NSE
Viviana Power Tech Ltd. is an EPC player in power transmission and distribution systems up to 400KV. The company is expanding into power transformer manufacturing, renewable energy integration, and battery energy storage systems, having recently divested non-core real estate and distribution transformer businesses to focus on core power infrastructure.
₹772.75
-23.35 · -2.93%
Market cap ₹826 Cr
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result16 Aug, 12:50 am IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Power P/E 16.8 (n=92)
Technical timing lens
Trend score and candlestick chart
65BullishSMA20 +5.7% / mo · MACD +
Stock trend: 65
Sector RS: —
Power FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
VIVIANAD candles · FIT view-5.7%Latest close ₹772.75 on 2026-10-19
Bar
-4.2%
RSI
48
MACD hist
0.84
52W pos
17%
2026-10-19O ₹807.00H ₹812.70L ₹752.15C ₹772.75Vol 1.1L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
VIVIANANifty PowerNifty 500
- VIVIANA
- +9.9%
- Nifty 500
- -5.6%
- Nifty Power
- -13.0%
- Vs Nifty 500
- +15.5 pp
Chart stats
19 Oct 2026- From 52W high
- -58.5%
- 52W range position
- 16%
- ATR (14)
- 7.9%
- Volume vs 20D
- 1.29x
- Avg traded value
- ₹7.2 Cr
- 20D price channel
- ₹685 - ₹974.9
₹1,860
₹565 - ₹1,860
₹60.7
Latest completed session
20-session average
75.0% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend supports entry, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · UNDERVALUED66
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good62
Revenue +128.5% · PAT +84.1% YoY
Technical
Bullish65
Price trend and sector-relative-strength timing.
Valuation
Legacy model+43.9%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence71
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Good · 62/100Rev +129% YoY · PAT +84% YoY · margin compression
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹72.4 Cr | +128.5% | -77.6% |
| EBITDA | ₹11.4 Cr | +76.0% | -74.3% |
| Operating margin | 15.7% | -468 bps | +201 bps |
| PAT | ₹6 Cr | +84.1% | -83.3% |
| PAT margin | 8.3% | -200 bps | -283 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 14.90
- P/B
- 7.10
- EV/EBITDA
- 11.29
- Market Cap
- 826.00Cr
Profitability
- ROE
- 59.70%
- ROCE
- 49.00%
- ROA
- 8.84%
- Dividend Y
- 0.12%
Growth (CAGR)
- Revenue 5Y
- 76.92%
- EPS 5Y
- 78.92%
- Revenue 3Y
- 145.00%
- EPS 3Y
- 157.00%
Balance Sheet
- Debt/Equity
- 0.86
- Interest Coverage
- 6.75×
- Altman Z
- 2.63
- Book Value
- 115.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- -4.00 Cr
- EPS TTM
- 54.82
Shareholding
- Promoter Hold
- 70.79%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 42%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 531+142.5% vs prev
Net Profit
₹ CrLatest: 53.0+152.4% vs prev
Return on Equity
%Latest: 18.1+55.1% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 48. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 rising (~5.4% over last month) — short-term momentum positive.
- RSI(14) at 48 — falling, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 57% off 52W high · 37% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation & peers
U-Score 66 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 66 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Growth at Value
Fundamental score breakdown
U band · UNDERVALUEDValuation13/30
Growth24/25
Quality20/20
Balance Sheet6/15
Cash Flow0/10
Piotroski
6/9 (+3)
Penalties
0
Raw sum
66
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
66/100 · legacy band UNDERVALUED
Positive drivers
- Fair-value margin of safety is positive at 43.9%.
- Quality contributes 20/20 to the score.
- Growth contributes 24/25 to the score.
Main drags
- Cash flow is weaker at 0/10; verify the latest quarterly trend.
- Balance sheet is weaker at 6/15; verify the latest quarterly trend.
- Valuation is weaker at 13/30; verify the latest quarterly trend.
Sector valuation model
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Primary lens
EV/EBITDA and PE against execution quality and margin stability.
Secondary checks
Order book, receivables, working capital, debt, operating cash flow.
Main risk check
Order wins matter only if they convert into cash and margins.
PE
14.9
PB
7.1
EV/EBITDA
11.3
ROE
59.7%
ROCE
49.0%
FCF Yield
—
Debt/Equity
0.9
MoS
+43.9%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
66
Previous: 66
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+43.9%
Previous: +46.0%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
63
66
66
66
63
66
63
63
66
66
66
66
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹376.63
-105.2% MoS
Growth-justified P/E
25.1
Growth-justified Value
₹1,377.63
+43.9% MoS
PEG
0.14
Comparable companies
Peers
Business-comparable peers in Power — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
PARTH
SME
Parth Electricals & Engineering Ltd.
Electrical Equipment
match 133
39
52.0
18.7%
-102%
WATCHLIST
JAINIK
SME
Jainik Power Cables Ltd.
Electrical Equipment
match 128
58
17.5
25.6%
+30%
FAIR VALUE
KCEIL
SME
Kay Cee Energy & Infra Ltd.
Electrical Equipment
match 127
65
5.0
22.8%
+84%
UNDERVALUED
CHAMUNDA
SME
Chamunda Electrical Ltd.
Electrical Equipment
match 126
57
14.0
13.1%
+51%
FAIR VALUE
RULKA
SME
Rulka Electricals Ltd.
Electrical Equipment
match 125
47
16.0
9.2%
+47%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-10-18T07:27:07.856Z
Management commentary snapshot
Q1 FY27 revenue surged 246% YoY to INR71.86 crores, with PAT up 232% YoY to INR6.93 crores. EBITDA margin maintained above 16% despite executing larger and more complex projects.
Management's strategic divestment of non-core assets to focus on power infrastructure EPC and transformer manufacturing is a positive step. Strong Q1 FY27 growth and a robust order book of INR1,312.53 crores provide good revenue visibility, supporting the INR900+ crore FY27 revenue target. Maintaining profitability with larger projects is key.
Growth engines
Power Transmission & Distribution EPC
Reinforcing our leadership in the power transmission and distribution EPC segment.
Power Equipment Manufacturing
Expanding into power equipment manufacturing through our upcoming power transformer manufacturing facility.
Emerging Businesses
Capturing opportunities in renewable energy integration, battery energy storage system, and other next-generation power infrastructure including data centers.
Geographical Expansion
Expanding our geographical footprint while maintaining execution excellence and project delivery standards.
Capacity and execution
Transformer Manufacturing Facility (Gujarat)
Developing our state-of-the-art technology for transformer manufacturing facility in Gujarat. Designed to manufacture transformers up to 200 kV voltage class, scaling up to 400 kV in future.
Phase 1 Transformer Capacity (FY27)
By end of this financial year, we will build capacity capability up to 20 MVA transformer capacity.
Next FY Transformer Capacity
For the next financial year, we will develop capabilities for 132 kV, 63 MVA class transformers.
Greenfield Project Capex
Total capex for the greenfield project for the first phase would be around INR90 crores. Around INR3.5-INR4 crores spent so far, and around INR10 crores for this financial year.
Tailwinds
Rising Electricity Demand
The Indian power sector continues to witness strong structural tailwinds driven by rising electricity demand.
Renewable Energy Integration
Strong structural tailwinds driven by renewable energy integration and government initiatives towards renewable energy integration.
Power Transmission Network Expansion
Strong structural tailwinds driven by power transmission network expansion and government initiatives towards strengthening transmission network.
Grid Modernization & Reforms
Strong structural tailwinds driven by grid modernization, distribution reforms, underground cabling, smart grids, and modernization of electrical infrastructure.
Risk radar
Project Execution Delays
Execution in infrastructure business naturally depends on the project milestone and customer schedules.
Working Capital Management
Approval process for working capital limits was taking longer than expected, leading to NCD facility as contingency.
Potential Margin Pressure on Large Orders
Analyst question on whether INR1,000-2,000 crore business will be a lesser margin business; management expects to maintain profitability.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The company explicitly states and emphasizes year-on-year growth for all key financial metrics (revenue, EBITDA, PAT) in its opening remarks and CFO's detailed financial performance review, indicating it's the primary comparison for this period.
Sector KPIs management disclosed
Revenue from Operations
Revenue from operations increased to INR71.86 crores, registering a strong year-on-year growth of 246%.
EBITDA
EBITDA stood at INR11.56 crores, up 232% year-on-year.
Profit After Tax (PAT)
Profit after tax increased to INR6.93 crores.
EBITDA Margin
Maintained healthy profitability with an EBITDA margin of more than 16%.
Management forward view
FY27 Revenue Target
We continue to target Financial Year '27 revenue in the range of INR875 crores to INR910 crores.
FY30 Long-Term Targets
Remain committed to our long-term objective of building a INR2,000 crores to INR2,200 crores revenue platform with a INR200-plus crores PAT by Financial Year '30.
Order Book Strategy
Management has consistently maintained a selective bidding approach, focusing not only on winning projects, but also on securing projects that offer sustainable margins and healthy cash flows.
Strategic Restructuring Rationale
The Board believes this is the right time to create focused businesses that can maximize long-term shareholder value and unlock long-term value for all our stakeholders.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| FY27 Revenue | INR71.86 crores (Q1 FY27) | Progress towards INR875-910 crores target, indicating sustained execution momentum. |
| Order Book Conversion | INR1,312.53 crores (current order book), INR1,400+ crores (bids under evaluation), INR2,600+ crores (active tenders) | Conversion of bids under evaluation and active participation into new orders to maintain revenue visibility. |
| Transformer Facility Commissioning & Ramp-up | IDT transformer facility by end of this month (leased), Greenfield project capex of INR10 crores in FY27 | Timely commissioning and ramp-up of 20 MVA capacity and progress on the greenfield project for higher kV transformers. |
| Working Capital Efficiency | Confident with existing working capital limits, INR40+ crores receivables received in July | Continued efficiency in receivables collection and management of working capital as project scale increases. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
71Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 66th percentile of the scored universe and 78th percentile within Power. Main check: cash conversion is weak at 28/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
9 docs text-extracted · 4 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
66th percentile
overall median 67 · Power: 78th pctile, median 65 · SME: 85th pctile, median 64
Evidence depth
Financial-only
9 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
28
weak · profit to cash conversion
Balance sheet
73
acceptable · leverage and solvency
Discipline
98
strong · capital discipline
Results
87
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 70.8%.
- ▸Promoter pledge is zero.
- ▸ROCE is 49%.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸Operating cash flow is negative at ₹-4 Cr.
- ▸Only 0 years of positive FCF.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Viviana Power Tech Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Nse
Investor presentationJun 2026
Investor presentation · Viviana Power Tech Limited has informed the Exchange about Investor Presentation
Source: Nse
Investor presentation
Investor presentation · Viviana Power Tech Limited has informed the Exchange about Investor Presentation
Source: Nse
Concall transcriptJul 2026
Jul 2026 · Transcript
Source: Nse
Investor presentationJul 2026
Jul 2026 · PPT
Source: Nse
Announcement
Earnings release · Viviana Power Tech Limited has informed the Exchange regarding a press release dated May 25, 2026, titled "Financial Results Press Release".
Source: Nse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Nse
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Nse
Investor presentationNov 2024
Nov 2024 · PPT
Source: Nse
Concall transcriptNov 2024
Nov 2024 · Transcript
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.