Ahmedabad: Ahmedabad-based Vivanta Industries Ltd, providing consultancy and Turnkey solutions for projects from conceptualisation to implementation, aims to transform operations with a focus on next-gen tech businesses. The company is venturing into new verticals, including drones, Information Technology, AI and Robotics, and Charging stations for electric vehicles, among others. The company has already started work on the Drone and EV business and aims to make it big in the coming time.
In September 2023, the company entered into an In-principal Memorandum of Understanding (MOU) with Vivanta Drone Research Centre Tanzania Ltd (VDRCTL). Vivanta Industries Ltd will acquire a 50% stake in VDRCTL for setting up assembly lines as well as R&D of drones. The company expect a sizable business opportunity from the African Continent and looks to expedite the project.
- To expand in the drone business, the company has entered in MOU with Vivanta Drone Research Centre Tanzania Ltd and acquired a 50% stake. To set up assembly line as well as R&D
- In April 2023, the company received a USD 5 million work order from US-based EVOCNA
- The company expect to commission a Biogas project in Sabarkantha in the near future
- Company approved 1:4 bonus issue; Trading approval was received from BSE on 15 September 2023
- For FY23 company reported a Net profit of Rs. 1.30 crore on a Total Income of Rs. 24.81 crore
Further, in April 2023, the company received a work order amounting to USD 5 million from the Electric Vehicle Organizational Centre North America Corporation (EVOCNA) for establishing an EV charging and manufacturing unit. The company expect to establish the plant in 18-24 months and 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 expect to reach sales worth approximately USD 10 million and above after establishing the project.
In the Extra-Ordinary General Meeting of the Company held on February 13, 2023, members of the company had approved the amendment of the objects clause of the Memorandum of Association allowing the company to venture into multiple businesses, including Agriculture & Animal Feed, Industrial automation, industrial robotics systems & drone, a charging station for electrical vehicles among others.
Established in 2013, Vivanta Industries Ltd is a civil construction and engineering company that offers 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. The company’s shares are listed on the Bombay Stock Exchange. The company also has over 6 years of experience in project consultancy through i) the power of Applied Intelligence and ii) Excellence and Innovation built into every design. These technologies have been successfully commercialised in numerous projects that continue to be marketed around the globe.
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. The company is to commission the biogas project in the Sabarkatha district in the near future. It expects to start work on biogas projects in Banaskantha and North Gujarat with 40 MT capacity. The aggregate cost of these projects is Rs 12 crore.
For H1FY24, the company reported a multi-fold rise in the total income to Rs. 23.03 crore as compared to total revenue of Rs. 0.90 crore in H1FY23. Net Profit during H1FY24 was reported at Rs. 1.01 crore, a 47% rise Y-o-Y from Rs. 68 lakh net profit reported in H1FY23. For FY23, the company reported a Net Profit of Rs. 1.30 crore on a Total income of Rs. 24.81 crore. As of September 2023, the company has net reserves amounting to Rs. 4.02 crore. Promoter Group holding in the company as of 30 September 2023 stands at 39.14%.
During the current financial year of FY23-24, the company’s board of directors approved a bonus issue of equity shares in the ratio of 1:4, i.e., one new equity share of Rs 1 each for every four existing equity shares of Rs 1 each held by the company’s shareholders. Pursuant to the approval, the company allotted 2.5 crore bonus shares of Rs. 1 face value. Trading approval was received from the Bombay Stock Exchange on 15 September 2023. In February 2023, shares of the company with a face value of Rs. 10 each were split into ten equity shares of Rs. 1 face value.