Vinyas Innovative Technologies Ltd
Incorporated in 2001, Vinyas Innovative Technologies Limited provides design, engineering, and electronics manufacturing services[1]
- Market Cap ₹ 1,221 Cr.
- Current Price ₹ 970
- High / Low ₹ 1,440 / 750
- Stock P/E 56.2
- Book Value ₹ 171
- Dividend Yield 0.00 %
- ROCE 16.3 %
- ROE 14.1 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 71.2% CAGR over last 5 years
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding is low: 29.4%
- Company has high debtors of 163 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Industrial Manufacturing Industrial Products
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 150 | 205 | 208 | 235 | 317 | 397 | 459 | |
| 138 | 192 | 196 | 214 | 284 | 356 | 414 | |
| Operating Profit | 11 | 13 | 12 | 21 | 33 | 41 | 45 |
| OPM % | 8% | 6% | 6% | 9% | 11% | 10% | 10% |
| 1 | 1 | 4 | 4 | 4 | 4 | 5 | |
| Interest | 8 | 9 | 12 | 13 | 14 | 13 | 15 |
| Depreciation | 3 | 3 | 3 | 2 | 2 | 6 | 6 |
| Profit before tax | 1 | 2 | 3 | 10 | 21 | 25 | 30 |
| Tax % | -13% | 28% | 60% | 27% | 26% | 23% | |
| 1 | 1 | 1 | 7 | 15 | 19 | 22 | |
| EPS in Rs | 12.20 | 15.43 | 17.28 | ||||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 22% |
| 3 Years: | 24% |
| TTM: | 39% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 71% |
| 3 Years: | 169% |
| TTM: | 30% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 23% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 14% |
| 3 Years: | 16% |
| Last Year: | 14% |
Balance Sheet
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 | 13 | 13 | 13 |
| Reserves | 26 | 27 | 28 | 42 | 116 | 134 | 202 |
| 59 | 94 | 96 | 86 | 97 | 104 | 129 | |
| 93 | 60 | 94 | 84 | 83 | 79 | 64 | |
| Total Liabilities | 182 | 185 | 221 | 216 | 308 | 330 | 407 |
| 17 | 17 | 15 | 13 | 42 | 40 | 45 | |
| CWIP | 0 | 0 | 0 | 3 | 0 | 0 | 10 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 165 | 168 | 206 | 200 | 266 | 290 | 352 | |
| Total Assets | 182 | 185 | 221 | 216 | 308 | 330 | 407 |
Cash Flows
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 15 | -2 | 12 | 12 | -29 | 9 | |
| 1 | -2 | -1 | -3 | -28 | -2 | |
| -10 | 3 | -9 | -10 | 65 | -7 | |
| Net Cash Flow | 6 | -1 | 2 | -2 | 8 | -1 |
| Free Cash Flow | 15 | -4 | 11 | 8 | -57 | 7 |
| CFO/OP | 135% | -13% | 111% | 70% | -71% | 35% |
Ratios
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 65 | 52 | 100 | 33 | 101 | 163 |
| Inventory Days | 366 | 205 | 247 | 211 | 166 | 88 |
| Days Payable | 207 | 80 | 130 | 71 | 74 | 36 |
| Cash Conversion Cycle | 225 | 177 | 217 | 173 | 193 | 216 |
| Working Capital Days | 20 | -2 | 16 | 33 | 84 | 95 |
| ROCE % | 10% | 11% | 18% | 19% | 16% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Operating Cycle Days |
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| Order Book ₹ Crore |
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| Team Size Number |
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| Order Inflow ₹ Crore |
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| Target Revenue Capacity (Current Setup) ₹ Crore |
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Documents
Announcements
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Structural Digital Database
9 April 2026 - SDD compliance certificate for FY ended 31.03.2026; 14 required events captured, no noncompliance.
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Agreements
8 April 2026 - Vinyas signed a 5-year LTA with HAL Korwa to supply electronic systems for HUD and IFFU.
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Certificate under SEBI (Depositories and Participants) Regulations, 2018
6 April 2026 - Filed Regulation 74(5) certificate for quarter ended 31 March 2026.
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Trading Window
27 March 2026 - Trading window closed from 01-Apr-2026 until 48 hours after FY2026 results for Vinyas (Scrip: VINYAS).
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Bagging/Receiving of orders/contracts
24 March 2026 - Awarded domestic ₹39.66 Crores and international ₹30.50 Crores PCBA orders; execution 6–18 months.
Annual reports
Concalls
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Nov 2025TranscriptPPT
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Nov 2025Transcript PPT
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Jun 2025Transcript PPT
Business Overview:[1][2]
VITL is an ISO 9001:2015, AS 9100-D and ISO 13485:2016 certified company involved in designing, engineering, and electronics manufacturing services (EMS) for the original equipment manufacturers and original design manufacturers (ODMs) in electronics industry. Its key product is printed circuit boards (PCBs). The company provides end-to-end solutions including design for manufacturability, supply chain management, PCB assembly and advanced test solutions, product integration, Testing and Box Build Assemblies, and after-market support to OEMs and ODMs.