Viviana Power Tech Limited IPO

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i. Viviana Power Tech is engaged in the business of Power transmission, Distribution and Industrial EPC space projects (Engineering, Procurement and construction). They provide wide range of services such as Power Transmission, EHV substation, Testing and Commissioning of sub-station and Transmission, Power Distribution Network Establishment, Underground Cable laying, Upgradation and modification of existing power system. They also undertake turnkey jobs for Supply, Civil, Erection, Testing & Commissioning of all types of Electrical system.

ii. Viviana Power deals with state government power utilities, private power entities and Renewable energy developers. Preferentially, company opts for EPC projects. Company bags project work from government utilities through open bidding process and from private power entities and renewable energy developers by way of open bidding or preferential basis in accordance with company’s merit and performance.

iii. Company has set business module to suit operational needs. Business operations mainly comprises of two main tasks: Supply and service. For performing these tasks, various sequential activities are performed. It has to deploy quality manpower and developed resources. The Company owns adequate machineries but for specific requirements of machineries, they have to avail services on hire basis. At site, company sets up office and store facilities as per project requirement and deploy project team and hire labours on daily basis as per the site requirement.

iv. Competitive Strengths:

  • Organizational stability along with management expertise.
  • Existing client relationship.
  • Well-trained employee base.
  • Quality Assurance.

Objects of the Viviana Power Tech Limited IPO:

The Net Proceeds from the Fresh Issue will be utilized towards the following objects: 1. To Meet Working Capital Requirement 2. General Corporate Purpose 3. To Meet the Issue Expenses
DRHP of Viviana Power Tech Limited IPO
RHP of Viviana Power Tech Limited IPO

Viviana Power Tech Limited IPO Details:

Open Date: Sep 05 2022
Close Date: Sep 08 2022
Total Shares: 1,600,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price Issue
Issue Size: 8.80 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 55 Per Equity Share
Listing At: NSE Emerge

Promoters And Management:

i. Mr. Nikesh Kishorchandra Choksi, aged 60 years is Chairman cum Managing Director and also the Promoter of the Company. He holds a degree in Bachelor of Electrical Engineering from Sardar Patel University. He was appointed on the Board on March 29, 2017 and further designated as the Chairman cum Managing Director of the Company on May 14, 2022 for a period of 5 years liable to retire by rotation. He is having experience of 37 years. He has been instrumental in taking major policy decision of the Company. He is playing vital role in formulating business strategies and effective implementation of the same. He is responsible for the expansion and overall management of the business of the Company. ii. Mr. Richi Nikeshbhai Choksi, aged 32 years, is the Whole Time Director and also the Promoter of the Company. He holds degree in Bachelor of Electrical Engineering. He was originally appointed on the Board on December 30, 2014 as Director and further designated as the Whole-Time Director of the Company on May 14, 2022 for a period of 5 years liable to retire by rotation. He is having of experience of 10 years. He has command in Project Management and system development. His leadership abilities have been instrumental in leading the core team of our Company. The company has witnessed splendiferous growth under his leadership. iii. Mrs. Reemaben Nikshbhai Choksi, aged 56 years is the Non-Executive Director of the The Net Proceeds from the Fresh Issue will be utilized towards the following objects: 1. To Meet Working Capital Requirement 2. General Corporate Purpose 3. To Meet the Issue Expenses Company. She holds degree in Bachelor of Arts. She was appointed on the Board as Non-Executive Director w.e.f., May 17, 2022 for a period of 5 years liable to retire by rotation. She is not having any previous experience.

Financials of Viviana Power Tech Limited IPO:

 
Particulars (in Cr) March 22 March 21 March 20
Revenue from operations 32 22 20
Purchase of Stock-in-Trade 11 11.87 8.58
Employee Benefit Expense 2.25 1.94 1.53
Other Expense 14.43 6.66 7.78
Operating Profit 4.73 2.04 2.18
OPM% 14.55% 9.09% 10.87%
Finance Cost 1.02 0.65 0.51
Depreciation 0.19 0.18 0.17
Other Income 0.44 0.09 0.03
Profit (Loss) before tax 3.96 1.31 1.54
Profit (Loss) for the period 2.90 0.99 1.21
Earnings per share 4.85 1.65 2.02
 

Comparison With Peers:

Name of the Company P/E EPS RONW % NAV per share (Rs)
Viviana Power Tech Limited 11 4.85 18% 26
KEC International Limited 30 12.92 10% 140
Kalpataru Power Transmission Limited 15 36 12.5% 283

Recommendation on Viviana Power Tech Limited IPO:

Review and Recommendation of Vivina Power Tech by IZ team is 5/10

1. The Company is engaged in the business of Power transmission, Distribution and Industrial EPC space projects (Engineering, Procurement and construction). 2. Mr. Nikesh Kishorechandra Choksi the MD of the company has 10 years of experience in the power industry. 3. Company’s revenue has increased from 20 Crores in Fy21 to 32 Crores in Fy22. 4. PAT has increased from 1.21 Crores in Fy21 to 2.90 Crores in Fy22. 5. Company has high receivables days of 122. 6. Asking P/E at 11x looks reasonable. 7. The power sector is growing well and electricity amendment bill already tabled in the parliament will be beneficiary for the whole power sector. 

Lead Manager of Viviana Power Tech Limited IPO:

  1. Beeline Broking Limited

Registrar of Viviana Power Tech Limited IPO:

  1. Skyline Financial Services Private Ltd

Company Address:

Viviana Power Tech Limited 313-315, Orchid Plaza, B/H Macdoland, Sama-Savli Road, Vadodara - 390024, Phone: +91 8866797833 Email: info@vivianagroup.in Website: http://www.vivianagroup.in/

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