Corporate Feature     

Published: December 31, 2023
Updated: December 31, 2023

Vivanta Industries Ltd.

Foray into drones and EVs

Further, in April 2023, the company received a work order amounting to $ 5 million from Electric Vehicle Organizational Centre North America Corporation (EVOCNA) for establishing an EV charging and manufacturing unit. The company expects to establish the plant in 18-24 months and the required software in 6-12 months from the date of receipt of the order. The order is for commercialization of electric vehicle technologies, which include vehicle-to-grid, vehicle-to-building, and vehicle-to-load capabilities, by validating the technologies and demonstrating the commercial viability of such technologies. The company expects to reach sales worth $ 10 million after establishing the project.

A-Z OF SERVICES

Established in 2013, Vivanta Industries Ltd is a civil construction and engineering company offering a range of services, including land survey and procurement, project designing, fiscal studies, funding, and marketing services. The company has executed turnkey projects, especially in pharmaceuticals, agro-based fertiliser projects, and industrial parks. Its shares are listed on the Bombay Stock Exchange.

For H1FY24, the company reported a multi-fold rise in total income to Rs 23.03 crore as compared to total income of Rs 0.90 crore in H1FY23. Net profit during H1FY24 was reported at Rs 1.01 crore, a 47% rise YoY from Rs 68 lakh net profit reported in H1FY23. For FY23, the company reported net profit of Rs 1.30 crore on total income of Rs 24.81 crore. As of September 2023, it has net reserves amounting to Rs 4.02 crore. The promoter group holding in the company as on September 30, 2023 stands at 39.14%.

During the current financial year FY23-24, the company’s board of directors approved a bonus issue of equity shares in the ratio of 1:4; i.e., 1 new equity share of Re 1 each for every 4 existing equity shares of Re 1 each held by the company’s shareholders. Pursuant to the approval, the company allotted 2.5 crore bonus shares of Re 1 face value. Trading approval was received from the Bombay Stock Exchange on September 15, 2023.

BIOGAS UNITS

The company in September 2022 was awarded turnkey contracts to establish biogas projects and an industrial park in the state of Gujarat amounting to Rs 37 crore. It is to commission the biogas project in Sabarkantha district in the near future and expects to start work on the biogas projects in Banaskantha and North Gujarat with a 40 mt capacity. The aggregate cost of these projects is Rs 12 crore.