The shares of the engineering services provider gained up to 3 percent after the company planned to Establish/ Assemble/ Install /Reinstall Electric Vehicle (EV) Charging Stations.
With a market capitalization of Rs 44.75 crore, the shares of Vivanta Industries Ltd were trading at Rs 3.56 per share, decreasing around 6.74 percent as compared to the previous closing of Rs 3.86 apiece.
According to the company, Vivanta Industries Ltd has planned to Establish/ Assemble/ Install /Reinstall Electric Vehicle (EV) Charging Stations in & across Gujarat & open new markets in the future.
Furthermore, Vivanta Industries Limited aims to facilitate the adoption of electric vehicles by establishing a network of EV charging stations, making it easier and more convenient for EV owners to charge their vehicles. Additionally, this initiative will not only contribute to a greener environment but also create new avenues for growth and innovation.
Looking into Vivanta Industries Ltd’s performance, revenue increased by 61 percent from Rs 6.23 crore in Q3 FY23 to Rs 10.08 crore in Q3 FY24. During the same period, net profit increased by 166 percent, from Rs 1.03 crore to Rs 0.34 crore.
In April 2023, the firm won a USD 5 million work order from the US-based EVOCNA. Furthermore, the business plans to launch a biogas plant in Sabarkantha in the near future.
The business’s promoters dropped their ownership from 39.14 percent in Q3 FY23 to 11.98 percent in Q3 FY24, while regular investors held 88.03 percent of the company.
Vivanta Industries Ltd specializes in project commercialization, as well as consultation and turn-key projects for medicines, agriculture, and prefabricated factories. The company specializes in conception, design, installation, commissioning, pharmaceutical manufacturing plant setup, nutraceuticals, and other services.
Written by:- Abhishek Singh
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