Viviana Power Tech Powers Ahead: H1 FY26 Sees Robust Growth and Strategic BESS Entry

Viviana Power Tech Limited, a prominent player in India's power infrastructure and EPC solutions, has reported a stellar performance for the first half of fiscal year 2026 (H1 FY26). The company's unaudited financial results reveal significant year-on-year growth across key metrics, underscoring its robust operational capabilities and strategic foresight. This period has been particularly transformative, marked by a strategic entry into the high-growth Battery Energy Storage System (BESS) segment, which is poised to become a critical pillar of India's evolving power infrastructure.

For H1 FY26, Viviana Power Tech's revenue from operations surged by an impressive 88% year-on-year, reaching INR 90.63 crore. This substantial top-line growth was complemented by an even more remarkable expansion in profitability. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) witnessed a 136% year-on-year increase, climbing to INR 17.69 crore. Consequently, the net profit for the period more than doubled, growing by 101% year-on-year to INR 8.92 crore. This consistent performance highlights the company's strong execution discipline, effective cost management, and improving operational leverage across its diverse project portfolio. The EBITDA margin improved to 19.52%, expanding by 392 basis points year-on-year, while the Net Profit Margin stood at 9.84%, reflecting a 63 basis points improvement.

Strategic Expansion and Market Positioning

Viviana Power Tech's strategic initiatives are clearly anchored by execution excellence, positioning the company for sustained growth in India's rapidly evolving energy sector. A key highlight of H1 FY26 was the company's decisive entry into the Battery Energy Storage System (BESS) segment. This move is not merely an expansion but a strategic alignment with the Indian government's aggressive push for renewable energy integration and grid stability. The company successfully secured two major BESS projects totaling INR 511.20 crore, with one in Rajasthan (100 MW / 200 MWh) and another in Gujarat (65 MW / 130 MWh). These wins establish Viviana as an early and credible player in this high-growth market.

Management emphasized that the BESS projects, while requiring significant capital deployment (approximately INR 300 crore in capex, with INR 180 crore financed through loans), are crucial for building technical credentials for larger Ministry of Power projects. These projects are expected to have a double-digit Internal Rate of Return (IRR) over their 12-year operational period, with substantial profitability gains from salvage value. This long-term perspective underscores the company's commitment to strategic, rather than short-term, gains in emerging sectors.

Beyond BESS, Viviana Power Tech is also focusing on geographic diversification, targeting underserved regions across India to mitigate risk and tap into new revenue pools. The company has a proven track record, having executed projects in 11 states, including Jammu & Kashmir, Punjab, Gujarat, and Kerala, demonstrating robust execution capabilities across diverse terrains and regulatory environments. This broad operational footprint ensures a resilient business model less susceptible to regional economic fluctuations.

Bolstering Manufacturing and Order Book Strength

Another significant strategic pillar is the expansion of Viviana's transformer manufacturing capabilities through its subsidiary, Aarsh Transformers Private Limited. The company is actively enhancing its capacity for Oil-Type Transformers, with plans to increase rating capacity to 7 MVA by FY25-26 and further to 20.5 MVA by FY26-27. Production volume is also slated for a substantial increase, targeting 10,000 units per annum by FY25-26 and 20,000 units per annum by FY26-27. This expansion is critical for improving integration across the EPC value chain and opening new revenue streams, especially given the anticipated scarcity in the global transformer market.

The company's total consolidated order book now exceeds INR 1,400 crore, providing strong revenue visibility for the coming quarters. This robust pipeline includes significant contributions from BESS projects (INR 400 crore), power transmission lines (INR 150 crore), and power distribution lines (INR 850 crore). Management expressed high confidence in executing these orders, supported by enhanced working capital limits and a strong track record. They anticipate adding another INR 350-400 crore in orders by FY26 end, with projections for Q3 FY26 top-line exceeding INR 100 crore and Q4 FY26 top-line around INR 350 crore.

Market Outlook and Future Prospects

The Indian power sector continues to present immense opportunities, driven by government initiatives and increasing energy demand. The