Viviana Power Tech FY26 revenue ₹533 cr, FY27 >₹900 cr

Record FY26 performance sets a new base

Viviana Power Tech Ltd (NSE: VIVIANA) reported a record consolidated revenue of ₹533 crore for FY26, marking a 16 times increase since its 2022 listing. The company also reported profit after tax (PAT) of ₹53.46 crore for FY26. Another FY26 disclosure cited revenue from operations at ₹531.25 crore, revenue at ₹536.26 crore, and net income at ₹52.73 crore, reflecting multiple result summaries carried in the market over the same period. Taken together, the figures point to FY26 as a breakout year in scale, with the business crossing the ₹500 crore annual revenue mark. The updates were discussed in a management session focused on general business updates and future growth plans for Q4 and FY26, with the company stating the interaction adhered to SEBI regulations. The meeting was scheduled at 11:30 AM IST.

Order book above ₹1,000 crore lifts revenue visibility

A key anchor for Viviana Power Tech’s outlook is its order book, which the company said exceeds ₹1,000 crore. Management described these as “high-quality order bookings”, positioning the pipeline as a base for predictable revenue streams. For power infrastructure-focused companies, the quality and timing of execution often matters as much as the headline value, because working capital intensity and project milestones can shift quarterly results. In Viviana’s case, the company’s FY26 commentary linked its scale-up to project execution, including what it described as prestigious power transmission and distribution work. One disclosed detail was that March 2026 execution contributed ₹257.17 crore to total revenue, indicating a sharp finish to the fiscal year.

Q4FY26 numbers: strong growth, multiple reported figures

Quarterly disclosures for Q4FY26 showed a sharp acceleration in revenues and profits, although reported figures vary across summaries. One set of numbers stated total income of ₹326.41 crore for Q4FY26 versus ₹118.70 crore in Q3FY26 and ₹135.29 crore in Q4FY25. This implies growth of 175.0% quarter-on-quarter (QoQ) and 141.3% year-on-year (YoY). The same summary reported Q4FY26 profit before tax (PBT) at ₹44.76 crore and PAT at ₹35.63 crore after tax expense of ₹8.40 crore, with net profit rising 365.1% QoQ and 178.1% YoY.

Another Q4-focused summary said the company declared results on May 25, 2026, reporting consolidated revenue from operations of ₹441 crore (up 157.9% YoY from ₹171 crore) and net profit of ₹44 crore (up 193.3% YoY from ₹15 crore). A separate reported set showed net sales at ₹322.75 crore in March 2026 (up 139.55% from ₹134.73 crore in March 2025), net profit at ₹35.99 crore (up 202.2% from ₹11.91 crore), and EBITDA at ₹47.88 crore (up 147.7% from ₹19.33 crore). The company’s Q4 EBITDA was also cited at ₹47.88 crore in the income-based summary.

Costs rose alongside execution volumes

The same Q4 income-based disclosure noted total expenses of ₹281.65 crore in Q4FY26, up 165.1% QoQ from ₹106.26 crore in Q3FY26. On a YoY basis, it said expenses increased 140.5%. This pattern is consistent with execution-led revenue, where procurement, subcontracting, and project delivery costs scale quickly when billing accelerates. The company’s ability to convert the higher activity into profit was reflected in the reported jump in net profit and PBT for the quarter. Still, the wide range of reported revenue and profit numbers across summaries makes it important for investors to track the precise definitions used, such as “total income”, “revenue from operations”, or “net sales”, and whether the numbers are consolidated.

Manufacturing expansion: ₹100 crore greenfield CapEx

Viviana Power Tech is also planning capacity expansion. The company outlined a ₹100 crore capital expenditure plan for a new greenfield power transmission manufacturing project. Management indicated the expansion is aimed at improving margins and gaining better control over the supply chain. The manufacturing push matters because it can change the business mix between project execution and equipment manufacturing, influencing profitability, working capital cycles, and delivery timelines. The company’s longer-term targets further suggest an intent to scale the equipment side of the portfolio.

Leverage guardrails: debt-to-equity targeted at 1.2x to 1.5x

Alongside growth plans, Viviana highlighted a debt-to-equity ratio target of maintaining leverage within 1.2x to 1.5x. That target provides a reference point for how the company expects to fund expansion and working capital needs while executing a larger order book. In project businesses, balance sheet discipline often becomes more important as scale rises, because receivables and inventory can expand quickly in high-growth phases. The stated leverage range, combined with the order book and CapEx plan, signals that management is presenting growth alongside a defined capital structure comfort zone.

Targets: FY27, FY30, and FY32 milestones

Viviana has also disclosed explicit revenue milestones over multiple time horizons. For FY27, the company’s revenue target is more than ₹900 crore. For the transformer business, it set a long-term revenue target of ₹400 crore to ₹600 crore by FY30. For the broader power equipment division, the company projected revenue of ₹1,000 crore to ₹1,200 crore by FY32, along with a PAT margin target of 9% to 10%. These figures outline an expansion path that relies both on execution capability and the ramp-up of manufacturing-oriented segments.

Key figures snapshot

Market datapoints referenced in disclosures

One market update in the provided data noted Viviana Power Tech shares closed at ₹838.25 on May 22, 2026 on the NSE. Another quarterly update stated that net profit rose 129.94% to ₹7.91 crore in the quarter ended December 2025 versus ₹3.44 crore in the previous quarter ended December 2024, pointing to improving profitability momentum before the March 2026 surge. The same data pack included a quarterly revenue series showing total revenue rising from ₹118.70 crore in December 2025 to ₹326.41 crore in March 2026, highlighting the steep step-up in the final quarter. Separately, an EPS data point in the Q4 income summary listed EPS at ₹0.00 for Q4FY26, compared with ₹7.56 for Q3FY26, while another disclosure mentioned basic EPS from continuing operations at ₹52.33 for the full year ended March 31, 2026. These differences reinforce the need to verify how each metric is calculated and reported across summaries.

Why the FY26 update matters

The FY26 disclosures combine three elements investors typically track in project-led power infrastructure businesses: rapid scale-up, visible backlog, and a stated capacity addition plan. Crossing ₹500 crore in annual revenue, paired with a ₹1,000+ crore order book, indicates that a larger execution pipeline is already in place. The ₹100 crore greenfield project suggests the company is trying to deepen manufacturing capabilities to support delivery and potentially improve margins through better control of inputs and timelines. Meanwhile, the debt-to-equity range of 1.2x to 1.5x gives a clear signal on the leverage boundary management intends to maintain.

Closing note

Viviana Power Tech’s FY26 update positions the company around a record revenue year, a sizable order book, and a defined expansion plan with targeted leverage. With FY27 revenue guidance set at above ₹900 crore and longer-dated segment targets extending to FY30 and FY32, the next checkpoints for investors will be progress on the greenfield CapEx execution and the conversion of the ₹1,000+ crore order pipeline into billed revenues.