Vinyas Innovative Technologies Limited was incorporated in 2001. The company specialises in designing, engineering and electronics manufacturing services. They cater to Original Equipment Manufacturers (OEM) and Original Design Manufacturers (ODM) in the electronic industry worldwide. Being an electronic manufacturing services provider, Vinyas Innovative Technologies provides a wide range of products and services. The company is known as a game changer in the industry for offering creative solutions and improving complex manufacturing processes.
The company offers two types of services to their clients: Build to Print (B2P) and Build to Specification (B2S). Under B2P, clients provide the product design, and the company handles the manufacturing. In the B2P service, the company designs the product based on client specifications and then manufactures it. The company's main services are printed circuit board assembly (PCBA) and box builds used in critical systems like aeroplane cockpits, landing systems, inflight systems, and medical equipment.
The global strategic electronics industry is expected to grow by 4% CAGR to USD 422 billion by 2032, fueled by advancements in technology, integration, and the emergence of Industry 4.0. The increasing need for electronics in the Indian Aerospace and Defence sector is a result of the modernisation of weapon systems, the introduction of advanced weaponry by the armed forces, the influence of indigenisation efforts, and the Make in India initiative.
The demand comes from a wide range of sources, involving over 45 separate entities across more than 100 institutions. The key drivers include the Ministry of Defence, the Ministry of Home Affairs, and Civil Avionics. As a preferred partner for OEMs and ODMs worldwide, the company is likely to benefit from the demand.
Vinyas Innovative Technologies Limited IPO Dates
Vinyas Innovative Technologies Limited IPO Dates
Vinyas Innovative Technologies IPO will open on September 27, 2023, and close on October 3, 2023. The IPO will be listed on the NSE exchange on October 6, 2023.
Vinyas Innovative Technologies Limited IPO Price Band
Vinyas Innovative Technologies is a fresh IPO. The issue comprises 33,12,800 equity shares and is priced at ₹162 to ₹165 per share.
Vinyas Innovative Technologies Limited IPO Lot Size
Vinyas Innovative Technologies IPO lot size is 800 shares, and retail investors need to apply for a minimum of 1 lot, which is ₹1,32,000.
Vinyas Innovative Technologies Limited IPO Objectives
The objectives of Vinyas Innovative Technologies Limited's IPO are listed below:
- To fund the working capital requirement of the company.
- To meet general corporate purposes.
- To fund the issue-related expenses.
Peer Details
As per DRHP, the listed companies in India that are involved in a similar business to that of Vinyas Innovative Technologies are Cyient DLM Limited and Centum Electronics Limited.
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Contact Details of Vinyas Innovative Technologies Limited IPO
- Registered office: Plot No. 19, Survey No. 26 & 273-P, 3rd Phase, Koorgalli Industrial Area, Ilawala Hobali, Mysore-570018, Karnataka.
- Phone: +91 821 2404444
- E-mail: secretarial@vinyasit.net
Vinyas Innovative Technologies Company Financials
| Particulars | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|
| Total Revenue | 23,885.41 | 21,216.30 |
| Profit After Tax | 734.34 | 100.88 |
| Net Worth | 4,522.99 | 3,144.74 |
| Earnings Per Share (in ₹) | 19.62 | 2.70 |
| Total Borrowings | 8,571.01 | 9,542.58 |
Know before investing
Strengths
3The company is a preferred Indian partner for the defence and aerospace sectors, with global accreditations. They possess essential certifications such as AS 9100D and ISO 9001:2015, signifying their commitment to maintaining high-quality standards in manufacturing aerospace and defence products. They also secured a Defense Industrial License from the Ministry of Commerce and Industry, Government of India, allowing them to manufacture defence subsystems. Furthermore, the company’s adherence to international standards has earned them various global certifications, enabling them to meet their client’s rigorous quality requirements and facilitate acquiring new customers.
The company sources raw materials to manufacture their products. The raw materials suppliers are approved by their customers.
The company plans to establish partnerships with OEMs based in India, Israel, and the United States to broaden its presence within the sector. These OEMs specialise in advanced technologies encompassing radars, missile systems, electronic warfare, sensors, and communication systems.
Risks
3The company is dependent on a single customer for revenue. The top 1 customer contributed about 51.13%, 51.59% and 44.09% to the revenue in FY 2023, FY 2022 and FY 2021, respectively.
The revenue from operations of the company depends primarily on the defence and aerospace contract. Any changes in the defence policy, delay or decline of funds to the Indian defence budget, can adversely impact the revenue of the company.
