# Vinyas Innovative Technologies share price today (Vinyas Innovative Technologies Ltd, NSE: VINYAS)

> Vinyas Innovative Technologies share price today: ₹1,530.00 at the NSE close on 3 November 2026, up 30.8% in a year. Vinyas Innovative Technologies (NSE: VINYAS) is worth ₹1,940 crore, trades at a P/E of 63.6 and has closed between ₹832.30 and ₹1,675.15 over the past 52 weeks. > Vinyas Innovative Technologies Ltd's earnings have grown faster than its share price. Earnings per share grew +59.0% in a year while the price moved +30.8%. VINYAS · Aerospace & Defence - Equipments · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/vinyas-innovative-technologies-ltd

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## Key numbers

- Price: ₹1,530.00 (+30.8% in a year)
- P/E: 63.6× (lower than 59% of the last 3.1 years)
- Revenue (Mar 2026): ₹302 Cr (+22.3% on a year ago)
- Profit (Mar 2026): ₹22.0 Cr (+83.3% on a year ago)
- Operating margin: 13.0% (+3.0 points on a year ago)
- ROCE: 19%, FY26
- ROIC: 11.4%, against a 12.0% cost of capital: −0.6 points
- Profit that came in as cash: −82%, last 3 years

The main question: profits are rising, but only −82% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the Vinyas Innovative Technologies share price today? Vinyas Innovative Technologies Ltd's share price was ₹1,530.00 at the close on 3 November 2026. It has been rising for 21 weeks. That is 16.6% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹832 and ₹1,675, and at that close it sat 83% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 13 weeks in a row. Over the last 3.1 years the share price moved +342% while the NIFTY 500 moved +26%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Vinyas Innovative Technologies this quarter? Three changes stood out: indian funds and insurers (DIIs) raised their stake for 4 quarters in a row, best operating margin in 8 quarters and revenue up on a year earlier for 6 quarters in a row (every quarter we can compare). 1. Indian funds and insurers (DIIs) raised their stake for 4 quarters in a row From 2.8% to 6.7% of the company by the September 2026 quarter. 2. Best operating margin in 8 quarters Operating margin was 13% in the March 2026 quarter, against 10% a year earlier. Why: Margins rose because the company sold a better mix of products in the second half. Next results: check whether the margin falls back to the 11-12% management expects for FY27. From the earnings call on 29 May 2026. 3. Revenue up on a year earlier for 6 quarters in a row (every quarter we can compare) In the March 2026 quarter revenue was ₹302 crore, +22.3% on a year earlier. Why: Revenue rose because export sales grew to about half of FY26 revenue, a deliberate change in the customer mix. From the earnings call on 29 May 2026. ## What are Vinyas Innovative Technologies' latest quarterly results? For January to March 2026 (the quarter ended 31 March 2026), Vinyas Innovative Technologies reported revenue of ₹302 crore, up 22.3% from ₹247 crore a year earlier, and a profit of ₹22.0 crore, up 83.3% from ₹12.0 crore. ### Vinyas Innovative Technologies results: January to March 2026 against a year earlier

| Measure | January to March 2026 | January to March 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹302 crore | ₹247 crore | +22.3% |
| Profit | ₹22.0 crore | ₹12.0 crore | +83.3% |
| Earnings per share | ₹17.11 | ₹9.86 | +73.5% |
| Operating margin | 13.0% | 10.0% | +3.0 points |

The next results, for April to June 2026, were due by 14 August 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). This page shows them once our weekly data update has read them. Vinyas Innovative Technologies' management discussed these results on a call held on 29 May 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 31 March 2026). Revenue and profit in ₹ crore.)

## What is the Vinyas Innovative Technologies share price history? Vinyas Innovative Technologies closed at ₹1,530.00 on 3 November 2026, up 30.8% from ₹1,170.00 a year earlier (31 October 2025) and up 261.2% over three years. Its highest weekly close since October 2023 was ₹1,675.15 on 16 October 2026. ### Vinyas Innovative Technologies share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹1,393.20 | +9.8% |
| 1 month ago · 1 Oct 2026 | ₹1,375.15 | +11.3% |
| 6 months ago · 30 Apr 2026 | ₹1,145.85 | +33.5% |
| 1 year ago · 31 Oct 2025 | ₹1,170.00 | +30.8% |
| 3 years ago · 3 Nov 2023 | ₹423.60 | +261.2% |
| Earliest and lowest weekly close in our records · 6 Oct 2023 | ₹346.50 | +341.6% |
| Highest weekly close since October 2023, also the 52-week high · 16 Oct 2026 | ₹1,675.15 | −8.7% |
| 52-week low (weekly close) · 2 Apr 2026 | ₹832.30 | +83.8% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (168 weekly closes from 6 October 2023 to 3 November 2026.)

## What is the latest news on Vinyas Innovative Technologies? 3 Nov 2026: Vinyas Innovative Technologies closed at ₹1,530.00, up 9.8% on the week and up 11.3% on the month. Our read, 27 Jun 2026: Vinyas assembles printed circuit boards and electronic subsystems for defence and aerospace OEMs, with 85 to 90% of its 1,309 Cr order book in those two sectors. Revenue grew from 208 Cr in FY22 to 514 Cr in FY26, a 25% yearly growth, as operating margin expanded from 6% to 12% driven by volume leverage and product-mix shift toward system integration. The bear case is working-capital intensity: debtor days rose from 100 to 161 and operating cash flow has been negative in two of the last three years, funded by 73 Cr of equity and debt raised in FY26. ### Earlier

- 29 May 2026: Vinyas Innovative Technologies held its results call for January to March 2026. Management guided: FY27 order inflows goal 25-30% above FY26 level of ₹960 crore (implies ₹1,200-1,250 crores)
- Results for January to March 2026: Revenue up 22.3% and profit up 83.3% on a year earlier. ### Our read of the business

Vinyas assembles printed circuit boards and electronic subsystems for defence and aerospace OEMs, with 85 to 90% of its 1,309 Cr order book in those two sectors. Revenue grew from 208 Cr in FY22 to 514 Cr in FY26, a 25% yearly growth, as operating margin expanded from 6% to 12% driven by volume leverage and product-mix shift toward system integration. The bear case is working-capital intensity: debtor days rose from 100 to 161 and operating cash flow has been negative in two of the last three years, funded by 73 Cr of equity and debt raised in FY26. Latest quarter: Revenue 302 Cr (+22% on a year earlier), operating margin 13%, H2 margin peak on favourable mix; FY26 order inflows 960 Cr, book at 1,309 Cr. (Our read after the latest results, written 27 June 2026.)

## What dividend does Vinyas Innovative Technologies pay? Vinyas Innovative Technologies has paid no dividend on the NSE since its first NSE close in our records (6 October 2023), the start of the period we checked. No. Vinyas Innovative Technologies Ltd paid out 0% of its profit as dividends in each of its last 7 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Vinyas Innovative Technologies management say on the latest results call? On the call for January to March 2026, held on 29 May 2026, Vinyas Innovative Technologies' management guided: FY27 order inflows goal 25-30% above FY26 level of ₹960 crore (implies ₹1,200-1,250 crores)

> “Each SMT line generates between five hundred to six hundred crores in revenue capacity, and with the new capacity expansion we are looking at between two thousand to twenty-one hundred crores in terms of peak revenue capacity that we will be able to achieve”
> Management, on the call for January to March 2026

### What management guided

- FY27 operating margin guided at 11-12% for full year, normalizing from H2 13% which benefited from product mix and operating leverage. - Order book execution: current ₹1,309 crore executable over 18-24 months; new programs require approximately 8 months initial ramp prior to revenue recognition whereas existing programs add to turnover immediately. - Capacity expansion (₹30 crore capital spending, 25,000 sq ft) operationalization in 2-3 months with peak revenue capacity of ₹2,000-2,100 crores; medical segment planned at 5% of FY27 revenue. - Sustained 25-30% year-on-year growth rate confirmed as achievable going forward; peak capacity utilization not planned due to high-mix low-volume defense/aerospace model. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/57143-29-May-2026.pdf). (From the call for January to March 2026, 29 May 2026.)

## What is the future of Vinyas Innovative Technologies? What is changing in the business? What is changing at Vinyas Innovative Technologies, from the latest results and calls: order book execution into fy27 revenue, new system-integration facility operationalisation and export mix sustaining at 50% of revenue. - Order book execution into FY27 revenue. 1,309 Cr order book (2.5x FY26 revenue) executable over 18 to 24 months gives revenue visibility into FY28. ⚠ estimate
- New system-integration facility operationalisation. 30 Cr capital spending for 25,000 sq ft facility adds Class 3 integration capability; post-expansion peak capacity 2,000 to 2,100 Cr (4x current revenue). ⚠ estimate
- Export mix sustaining at 50% of revenue. Export revenue reached 50% of FY26 sales (primarily Europe and US), management expects a sustained 50-50 domestic/export split. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the latest results, written 27 June 2026.)

## What is Vinyas Innovative Technologies' order book? Order book 1,309 Cr as of FY26 year-end with 18 to 24 month execution visibility; 85 to 90% from defence and aerospace. - FY27 order inflows guidance: 25 to 30% above FY26 level of 960 Cr, implying 1,200 to 1,250 Cr; large purchase orders anticipated in H2 FY27. ✓ fact

(Our read after the latest results, written 27 June 2026.)

## What could change the Vinyas Innovative Technologies story? What are the risks? If FY27 order inflows come in below 1,000 Cr (missing the guided 1,200 to 1,250 Cr range) and debtor days expand beyond 180, indicating that the revenue miss is accompanied by further working-capital deterioration, the volume-ramp thesis would break. Alternatively, a single-quarter profit spike from an asset sale or tax reversal masquerading as operating improvement would invalidate the inflection narrative. ### Each change stops working if

- Order book execution into FY27 revenue: FY27 order inflows fall below 1,000 Cr, indicating customer deferrals or competitive loss on new program bids. - New system-integration facility operationalisation: Facility commissioning is delayed beyond October to December 2026 or qualification by anchor customers slips, preventing revenue recognition in FY27. - Export mix sustaining at 50% of revenue: European demand softens following end of geopolitical tailwinds or a key European OEM qualifies an alternative supplier. ### The main risks

- Negative operating cash flow, accrual-heavy growth: Operating cash flow/profit three-year aggregate -0.8x; FY26 operating cash flow -32 Cr vs profit 31 Cr, working capital absorbing cash. ✓ fact
- Geopolitical supply chain concentration, Israel 10 to 15% procurement: Israeli component sourcing is 10 to 15% of procurement; logistics disruption proved brief in FY26 but recurrence risk remains for specific programs. ✓ fact

(Our read after the latest results, written 27 June 2026.)

## What to watch in Vinyas Innovative Technologies' next results? When Vinyas Innovative Technologies reports April to June 2026, these are the 4 checks that show whether the story is still on course. First: Capacity expansion completion and initial utilization trajectory: ₹30 crore facility expected operational in 2-3 months; monitor actual completion date and first-quarter post-expansion utilization ramp rate against 35-40% current baseline. - What to check (from the call)
- Capacity expansion completion and initial utilization trajectory: ₹30 crore facility expected operational in 2-3 months; monitor actual completion date and first-quarter post-expansion utilization ramp rate against 35-40% current baseline. - FY27 order inflows execution: management guided 25-30% above FY26 ₹960 crore (₹1,200-1,250 crore goal); watch for H2 FY27 large purchase order realization and full-year inflow achievement. - Medical segment 5% revenue goal: two customers in ramp (one producing, one ramping by end-CY26); track quarterly contribution trajectory toward FY27 5% guidance and second customer ramp progress. - Israeli JV materialization and structure clarity: partnership announced but details pending. ## Which stock lists is Vinyas Innovative Technologies on? Vinyas Innovative Technologies is on 2 of our India lists: Momentum stocks and Defence stocks. - [Momentum stocks Market cap cr: 1922.2651273344654](https://www.sectoralpha.in/momentum-stocks-india)
- [Defence stocks Group on the list: Defence equipment and electronics](https://www.sectoralpha.in/sectors/aerospace-defence-equipments)

## Is Vinyas Innovative Technologies profitable? Vinyas Innovative Technologies Ltd earned ₹22.0 Cr of net profit in the Mar 2026 quarter, +83.3% on the same quarter a year earlier. That is the 6th quarter in a row of profit growth. Full-year FY26 profit was ₹31.0 Cr. Over 6 years profit has grown 77.2% a year on average. That is 7.3% of the quarter's revenue. The same quarter a year earlier earned ₹10.0 Cr. For the full year, FY26 profit was ₹31.0 Cr (+63.2% on the year before). Why profit moved: revenue changed +22.3% on a year earlier and the margin moved +3.0 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +37.2% and revenue +27.6%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Vinyas Innovative Technologies make, and is it growing? Vinyas Innovative Technologies Ltd reported ₹302 Cr of revenue in the Mar 2026 quarter, +22.3% on the same quarter a year earlier. That is the 6th quarter in a row with growth on the year before. Over 6 years it has grown 22.8% a year on average. The last full year, FY26, came in at ₹514 Cr. Why this happened. The order book of 1,309 Cr at May 2026 represents 2.5x the FY26 revenue of 514 Cr. With 85 to 90% from defence and aerospace customers (long-duration programs), conversion is more predictable than commercial EMS. New programs require ~8 months qualification before revenue recognition, but existing programs add directly to turnover. Management guided FY27 order inflows of 1,200 to 1,250 Cr (25 to 30% above FY26's 960 Cr), with large purchase orders anticipated in H2 FY27. If achieved, the exit order book at FY27 end would exceed 1,500 Cr. FY26 revenue was ₹514 Cr, +29.5% on the year before. Recent pace: the last four quarters grew +27.6% on average, against 22.8% a year over the longer run, so this year is growing faster than its own long-run rate. ## How much of every ₹100 of sales does Vinyas Innovative Technologies keep? Vinyas Innovative Technologies Ltd's operating margin was 13.0% in the Mar 2026 quarter, 3.0 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Over the last four quarters it has moved +2.0 percentage points. Across 7 years it has been between 5.0% and 12.0%. Why this happened. The new facility goals system-level integration, cable harnesses, electromechanical assemblies, subsystem integration, which is higher-value than PCB assembly and a margin-accretive mix shift. Management stated operational readiness in 2 to 3 months from May 2026. Each SMT line generates 500 to 600 Cr peak capacity. The facility does not by itself generate revenue until programs qualify, but it positions Vinyas to bid on larger system-integration contracts. At current utilisation of 35 to 40%, the runway to peak capacity is long, meaning incremental revenue growth does not require further facility spend for several years. The latest quarter is above every full year in that period. Why the margin moved: operating margin changed +2.5 percentage points on the year while gross margin changed +0.8 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales. As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead. ## Is Vinyas Innovative Technologies' profit turning into cash? Over the last 3 years Vinyas Innovative Technologies Ltd's operations used more cash than they brought in, so cash conversion was −82%, a gap worth watching. In FY26 its operations used ₹32.0 Cr of cash, against ₹31.0 Cr of profit. After ₹36.0 Cr of spending on assets, free cash was −₹68.0 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why −82% of profit came in as cash: the cash cycle got 37 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. When less than 70% of profit comes in as cash, it is the thing to watch on this page. What to look at next: less of the profit turns into cash than it should, and the cash cycle is 37 days longer. The next section looks at where the cash is stuck. ## Where does Vinyas Innovative Technologies' cash go? Vinyas Innovative Technologies Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 234 days in FY26, up from 197 days in FY21. It spent ₹68.0 Cr on assets over the last 3 years. Customers take 161 days to pay, and stock sits for 117 days on average. At FY26 sales of ₹514 Cr, each day of that cycle ties up about ₹1.4 Cr, so roughly ₹330 Cr is tied up in the business at any time. FY26: customers took 161 days to pay and stock sat for 117 days, about 3.8 months of sales sitting as stock, for a full cycle of 234 days, longer than FY21's 197. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 117 days. Customers pay about 161 days after that. Suppliers are paid at 45 days. Together that makes the 234-day cycle. Spending on assets: ₹68.0 Cr over the last 3 years, against ₹15.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹4.0 Cr (FY26): assets paid for that are not earning yet. In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit. ## What is Vinyas Innovative Technologies' P/E ratio, and how does it compare with its own history? Vinyas Innovative Technologies Ltd's P/E is 63.6×, in the middle of its own history: higher than 41% of past readings. Its usual P/E (the middle reading) is 66.5×, over 3.1 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks. Why the multiple is where it is: over the past year earnings per share moved +59.0% while the price moved +30.8%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 3 years the price moved +53.4% a year; about +60.5% a year came from earnings growth and about −7.1 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the Vinyas Innovative Technologies share price assume? Worked out from its price on 27 August 2026, Vinyas Innovative Technologies Ltd's share price assumed profit growth of about 24.3% a year. Over the past 6 years its profit actually grew 77.2% a year. Today its P/E is 63.6×, lower than 59% of its own last 3.1 years. This is a one-day reading, taken on 27 August 2026. Every other number on this page, the multiple included, uses the latest price as of 3 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Vinyas Innovative Technologies business getting better or worse? Vinyas Innovative Technologies Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 6 quarters of 1 measure, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## What is the Vinyas Innovative Technologies story, and has it been checked? Vinyas Innovative Technologies Ltd's story is not scored yet against the checks our research set on 27 June 2026. Where it sits in its own cycle: MID EXPANSION. Our read, 27 June 2026. From the numbers. From the price. Price stage 2, week 21, above its 200-day line, relative strength falling. From the research. Vinyas is an EMS specialist ramping aerospace and defence programs on a 1,309 Cr order book, FY26 revenue 514 Cr growing 29% YoY with OPM expanding from 9% to 12%, and peak capacity of 2,000 to 2,100 Cr installed after a…

Where they disagree. The earnings curve is clearly expanding (slope 116% per year, R-squared 0.82 over 8 quarters), and the operating cycle is in mid-expansion (MID EXPANSION stage). Price is 3% below its 12-month high, suggesting the move is not exhausted, but a 4.1x price run over 36 to 48 months generates…

What is proven. What is not proven yet. If FY27 order inflows come in below 1,000 Cr (missing the guided 1,200 to 1,250 Cr range) and debtor days expand beyond 180, indicating that the revenue miss is accompanied by further working-capital deterioration, the volume-ramp thesis would break. Alternatively, a single-quarter PAT spike from an asset sale or tax reversal masquerading as operating improvement would invalidate the inflection narrative. What would change our mind. If FY27 order inflows come in below 1,000 Cr (missing the guided 1,200 to 1,250 Cr range) and debtor days expand beyond 180, indicating that the revenue miss is accompanied by further working-capital deterioration, the volume-ramp thesis would break. Alternatively, a single-quarter PAT spike from an asset sale or tax reversal masquerading as operating improvement would invalidate the inflection narrative. The test written in advance. Negative operating cash flow, accrual-heavy growth. Measured by: Negative operating cash flow, accrual-heavy growth by the next result. The test written in advance. What the company does. Vinyas assembles printed circuit boards and electronic subsystems for defence and aerospace OEMs, with 85 to 90% of its 1,309 Cr order book in those two sectors. Revenue grew from 208 Cr in FY22 to 514 Cr in FY26, a 25% CAGR, as EBITDA margins expanded from 6% to 12% driven by volume leverage and product-mix shift toward system integration. The bear case is working-capital intensity: debtor days rose from 100 to 161 and OCF has been negative in two of the last three years, funded by 73 Cr of equity and debt raised in FY26. What the surface reading misses. What the surface reading misses. The surface reading is: Negative OCF, poor cash quality, potential accrual inflation The research reads it further: The cash decomposition block classifies the WC model as 'aerospace qualification', milestone billing in long-gestation defence/aerospace programs structurally front-loads receivables before cash receipt. The why guards block explicitly flags this: 'expects low ocf pat: true, multi-year qualification + milestone billing front-loads WC; low OCF early is structural.' Debtor days at 161 (FY26) versus 100 (FY22) confirm receivables absorbed the cash. Inventory actually IMPROVED from 247 days (FY22) to 114 days (FY26), the WC deterioration is concentrated in receivables, not inventory build. Lever 6 · Order-book wins: building. 1,309 Cr order book (2.5x FY26 revenue) executable over 18 to 24 months gives revenue visibility into FY28. What proves it keeps working: Order book execution into FY27 revenue. It stops working if FY27 order inflows fall below 1,000 Cr, indicating customer deferrals or competitive loss on new program bids. Lever 1 · Operating leverage: building. 30 Cr capex for 25,000 sq ft facility adds Class 3 integration capability; post-expansion peak capacity 2,000 to 2,100 Cr (4x current revenue). What proves it keeps working: New system-integration facility operationalisation. It stops working if Facility commissioning is delayed beyond Q3 FY27 or qualification by anchor customers slips, preventing revenue recognition in FY27. Lever 2 · Value-added mix: building. Export revenue reached 50% of FY26 sales (primarily Europe and US), management expects a sustained 50-50 domestic/export split. What proves it keeps working: Export mix sustaining at 50% of revenue. It stops working if European demand softens following end of geopolitical tailwinds or a key European OEM qualifies an alternative supplier. Sources: our stock research file (27 June 2026) · quarterly results through Mar 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## What is Vinyas Innovative Technologies management's track record? NADCAP accreditation is a technically demanding positive; two equity raises funded expansion not losses. ### Regulatory and governance record

No SEBI/CBI/ED action against VINYAS surfaced in enforcement sweep; 0% pledge. 0% Promoter shares pledged

Sources:

- [pitchbook.com](https://pitchbook.com/profiles/company/55885-24)
- [sebi.gov.in](https://www.sebi.gov.in/sebiweb/home/HomeAction.do)
- [screener.in](https://www.screener.in/company/VINYAS)

(Checked 30 June 2026.)

## How much does Vinyas Innovative Technologies earn on its capital? Vinyas Innovative Technologies Ltd earned a ROCE of 19% in FY26. That is up from a low of 10% in FY21. Its return on capital used (ROIC) is 0.6 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 6.0% net margin and 1.10× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 6.0% net margin × 1.10× asset turnover × 1.98× leverage (assets divided by equity) ≈ 13.1% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 11.4% − 12.0% = −0.6 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. The 11.4% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 13.5%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Vinyas Innovative Technologies have too much debt? Vinyas Innovative Technologies Ltd has total debt of ₹131 Cr against shareholder equity of ₹236 Cr as of Mar 2026, so its debt is 0.56× its equity. Year by year, that ratio went from 1.87 in FY23 to 0.56 in FY26. Keep that borrowing in mind when reading the returns on this page. ## What is the Vinyas Innovative Technologies shareholding pattern? Domestic institutions raised their stake in Vinyas Innovative Technologies Ltd by 3.5 percentage points over 6 quarters, the biggest change among its owners. Domestic institutions now own 6.7% of the company. Foreign institutions moved +1.2 points over the same period, to 1.2%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +3.5 points over 6 quarters, to 6.7%; Foreign institutions: +1.2 points over 6 quarters, to 1.2%; Promoters: −0.2 points over 6 quarters, to 29.2%. Why the owners changed: domestic institutions drove it (+3.5 points), together with foreign institutions (+1.2 points). They raised their stake step by step. ## How far is Vinyas Innovative Technologies from balance-sheet trouble? For Vinyas Innovative Technologies Ltd, the Z-score is 5.78. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is well clear of danger. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. Why it matters: a Z-score of 5.78 is well clear of the danger zone, so the balance sheet is not the risk here. ## How does Vinyas Innovative Technologies rank in its industry? 62.0 out of 100, rank 25 of 25 in Aerospace & Defence - Equipments, with 44% of the evidence available. It is provisional, so it is ranked below companies with full evidence. Vinyas Innovative Technologies Ltd scores 62.0 out of 100 against the 25 companies it is compared with in Aerospace & Defence - Equipments, ranking 25. Some evidence is missing, so the score is pulled toward the middle on purpose. The four parts add up to the total exactly: 20.3 + 16.4 + 13.5 + 11.8 = 62. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Vinyas Innovative Technologies compared with? Vinyas Innovative Technologies ranks 25 of 25 Aerospace & Defence - Equipments companies on the 4-Factor Sector Score, with 62.0 out of 100. 1. [Apollo Micro Systems Ltd](https://www.sectoralpha.in/stocks/apollo-micro-systems-ltd) APOLLO · turning · Most evidence points up · 100% evidence 70.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.9/35 · Revenue 77% · Profit 63.8% · Operating margin change 3 points · 100% evidence Capital efficiency 15.8/25 · ROCE 14.5% · Operating margin 29% · 100% evidence Valuation 9.2/20 · P/E 107× · PEG 1.7 · 100% evidence Relative strength 16.4/20 · Lead over its industry 10% · Lead over NIFTY 500 31% · 1 year 44.1% · 100% evidence · 4 of 12 weeks ahead Exact sum: 28.9 + 15.8 + 9.2 + 16.4 = 70.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [MTAR Technologies Ltd](https://www.sectoralpha.in/stocks/mtar-technologies-ltd) MTARTECH · breaking out · Most evidence points up · 90% evidence 70.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 32.3/35 · Revenue 53.5% · Profit 100% · Operating margin change 10.2 points · 100% evidence Capital efficiency 15.6/25 · ROCE 15.1% · Operating margin 23.2% · 100% evidence Valuation 7.4/20 · P/E 155× · PEG n/a · 50% evidence Relative strength 14.9/20 · Lead over its industry 18.6% · Lead over NIFTY 500 37.1% · 1 year 168.4% · 100% evidence · 5 of 12 weeks ahead Exact sum: 32.3 + 15.6 + 7.4 + 14.9 = 70.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Rossell Techsys Ltd](https://www.sectoralpha.in/stocks/rossell-techsys-ltd) ROSSTECH · leader · Evidence leans up · 79% evidence 64.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.5/35 · Revenue 82.9% · Profit 68.8% · Operating margin change 1.8 points · 88% evidence Capital efficiency 8.2/25 · ROCE 11.5% · Operating margin 14.4% · 100% evidence Valuation 8.8/20 · P/E 194× · PEG n/a · 15% evidence Relative strength 19.5/20 · Lead over its industry 28.7% · Lead over NIFTY 500 52.7% · 1 year 107.2% · 100% evidence · 11 of 12 weeks ahead Exact sum: 27.5 + 8.2 + 8.8 + 19.5 = 64 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Paras Defence and Space Technologies Ltd](https://www.sectoralpha.in/stocks/paras-defence-and-space-technologies-ltd) PARAS · breaking out · Evidence leans up · 82% evidence 63.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.4/35 · Revenue 41.5% · Profit 58.8% · Operating margin change 1 points · 95% evidence Capital efficiency 17.5/25 · ROCE 17.2% · Operating margin 29% · 76% evidence Valuation 8.7/20 · P/E 98.6× · PEG n/a · 50% evidence Relative strength 13.3/20 · Lead over its industry 17.1% · Lead over NIFTY 500 37.9% · 1 year 76.3% · 100% evidence · 10 of 12 weeks ahead Exact sum: 24.4 + 17.5 + 8.7 + 13.3 = 63.9 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 5. [Sigma Advanced System Ltd](https://www.sectoralpha.in/stocks/sigma-advanced-system-ltd) SIGMAADV · leader · Evidence leans up · 78% evidence 58.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.4/35 · Revenue 100% · Profit 20.3% · Operating margin change 307 points · 83% evidence Capital efficiency 9.8/25 · ROCE 11.7% · Operating margin 16% · 76% evidence Valuation 6.9/20 · P/E 102× · PEG n/a · 50% evidence Relative strength 15.0/20 · Lead over its industry 96.2% · Lead over NIFTY 500 116.7% · 1 year 318.8% · 100% evidence · 12 of 12 weeks ahead Exact sum: 26.4 + 9.8 + 6.9 + 15 = 58.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Azad Engineering Ltd](https://www.sectoralpha.in/stocks/azad-engineering-ltd) AZAD · leader · Evidence leans up · 89% evidence 57.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.0/35 · Revenue 29% · Profit 41.4% · Operating margin change 1 points · 88% evidence Capital efficiency 12.6/25 · ROCE 11.9% · Operating margin 37% · 100% evidence Valuation 9.0/20 · P/E 114× · PEG 1.94 · 65% evidence Relative strength 14.9/20 · Lead over its industry 4.2% · Lead over NIFTY 500 24.6% · 1 year 44.1% · 100% evidence · 12 of 12 weeks ahead Exact sum: 21 + 12.6 + 9 + 14.9 = 57.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Jaykay Enterprises Ltd](https://www.sectoralpha.in/stocks/jaykay-enterprises-ltd) JAYKAY · breaking out · Too little evidence to rank firmly · 51% evidence 56.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 34.3/43.75 · Revenue 100% · Profit 100% · Operating margin change 1.8 points · 83% evidence Capital efficiency 9.2/31.25 · ROCE 4.8% · Operating margin 14.2% · 76% evidence Valuation 12.9/25 · P/E 72.3× · PEG n/a · 15% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 34.3 + 9.2 + 12.9 = 56.4 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 8. [Sika Interplant Systems Ltd](https://www.sectoralpha.in/stocks/sika-interplant-systems-ltd) SIKA · quiet · Evidence leans up · 81% evidence 55.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.1/35 · Revenue 0.5% · Profit 9.8% · Operating margin change 1.1 points · 88% evidence Capital efficiency 21.7/25 · ROCE 34.6% · Operating margin 19.5% · 100% evidence Valuation 12.9/20 · P/E 51.9× · PEG 1.01 · 100% evidence Relative strength 7.8/20 · Lead over its industry n/a · Lead over NIFTY 500 -9.8% · 1 year -27.7% · 25% evidence · 5 of 12 weeks ahead Exact sum: 13.1 + 21.7 + 12.9 + 7.8 = 55.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Data Patterns (India) Ltd](https://www.sectoralpha.in/stocks/data-patterns-indialtd) DATAPATTNS · quiet · Evidence leans up · 96% evidence 55.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.8/35 · Revenue 33.9% · Profit 24.2% · Operating margin change -5 points · 88% evidence Capital efficiency 21.3/25 · ROCE 21.9% · Operating margin 27% · 100% evidence Valuation 7.4/20 · P/E 78.7× · PEG 3.94 · 100% evidence Relative strength 5.5/20 · Lead over its industry -9.4% · Lead over NIFTY 500 8.8% · 1 year 38.5% · 100% evidence · 5 of 12 weeks ahead Exact sum: 20.8 + 21.3 + 7.4 + 5.5 = 55 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [High Energy Batteries (India) Ltd](https://www.sectoralpha.in/stocks/high-energy-batteries-indialtd) losing its lead · Evidence leans up · 72% evidence 53.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.9/35 · Revenue 1.5% · Profit -3.5% · Operating margin change 32.4 points · 95% evidence Capital efficiency 19.5/25 · ROCE 20.4% · Operating margin 28.1% · 95% evidence Valuation 11.8/20 · P/E 27.3× · PEG n/a · 50% evidence Relative strength 8.9/20 · Lead over its industry n/a · Lead over NIFTY 500 -2% · 1 year n/a · 25% evidence · 7 of 11 weeks ahead Exact sum: 12.9 + 19.5 + 11.8 + 8.9 = 53.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Hindustan Aeronautics Ltd](https://www.sectoralpha.in/stocks/hindustan-aeronautics-ltd) HAL · breaking out · Evidence leans up · 96% evidence 52.4 out of 100 Growth Capital Valuation Relative
12. [Dynamatic Technologies Ltd](https://www.sectoralpha.in/stocks/dynamatic-technologies-ltd) DYNAMATECH · breaking out · Evidence leans up · 79% evidence 50.9 out of 100 Growth Capital Valuation Relative
13. [Bharat Electronics Ltd](https://www.sectoralpha.in/stocks/bharat-electronics-ltd) BEL · turning · Evidence leans up · 100% evidence 50.8 out of 100 Growth Capital Valuation Relative
14. [Astra Microwave Products Ltd](https://www.sectoralpha.in/stocks/astra-microwave-products-ltd) ASTRAMICRO · quiet · Evidence leans down · 96% evidence 47.8 out of 100 Growth Capital Valuation Relative
15. [Zen Technologies Ltd](https://www.sectoralpha.in/stocks/zen-technologies-ltd) ZENTEC · turning · Evidence leans down · 60% evidence 47.6 out of 100 Growth Capital Valuation Relative
16. [Mishra Dhatu Nigam Ltd](https://www.sectoralpha.in/stocks/mishra-dhatu-nigam-ltd) MIDHANI · losing its lead · Evidence leans down · 96% evidence 42.5 out of 100 Growth Capital Valuation Relative
17. [AXISCADES Technologies Ltd](https://www.sectoralpha.in/stocks/axiscades-technologies-ltd) AXISCADES · breaking out · Evidence leans down · 89% evidence 41.6 out of 100 Growth Capital Valuation Relative
18. [BEML Ltd](https://www.sectoralpha.in/stocks/beml-ltd) BEML · breaking out · Evidence leans down · 88% evidence 40.9 out of 100 Growth Capital Valuation Relative
19. [Ideaforge Technology Ltd](https://www.sectoralpha.in/stocks/ideaforge-technology-ltd) IDEAFORGE · quiet · Evidence leans down · 71% evidence 39.8 out of 100 Growth Capital Valuation Relative
20. [Bharat Dynamics Ltd](https://www.sectoralpha.in/stocks/bharat-dynamics-ltd) BDL · basing · Evidence leans down · 96% evidence 35.6 out of 100 Growth Capital Valuation Relative
21. [Avantel Ltd](https://www.sectoralpha.in/stocks/avantel-ltd) AVANTEL · basing · Most evidence points down · 83% evidence 34.7 out of 100 Growth Capital Valuation Relative
22. [Aequs Ltd](https://www.sectoralpha.in/stocks/aequs-ltd) AEQUS · losing its lead · Too little evidence to rank firmly · 51% evidence 28.8 out of 100 Growth Capital Valuation Relative
23. [NIBE Ltd](https://www.sectoralpha.in/stocks/nibe-ltd) NIBE · quiet · Too little evidence to rank firmly · 53% evidence 27.8 out of 100 Growth Capital Valuation Relative
24. [DCX Systems Ltd](https://www.sectoralpha.in/stocks/dcx-systems-ltd) DCXINDIA · quiet · Most evidence points down · 61% evidence 23.8 out of 100 Growth Capital Valuation Relative
25. Vinyas Innovative Technologies Ltd this page VINYAS · turning · Too little evidence to rank firmly · 44% evidence 62.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.3/35 · Revenue 65% · Profit 100% · Operating margin change 3 points · 28% evidence Capital efficiency 16.4/25 · ROCE 18.6% · Operating margin 13% · 75% evidence Valuation 13.5/20 · P/E 61.2× · PEG n/a · 50% evidence Relative strength 11.8/20 · Lead over its industry n/a · Lead over NIFTY 500 25.4% · 1 year 25.9% · 25% evidence · 10 of 12 weeks ahead Exact sum: 20.3 + 16.4 + 13.5 + 11.8 = 62 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Aerospace & Defence - Equipments](https://www.sectoralpha.in/sectors/aerospace-defence-equipments), all 25 compared on one page. ## Which companies are close to Vinyas Innovative Technologies in size? Vinyas Innovative Technologies is the 21st largest of 25 Aerospace & Defence - Equipments companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Avantel, Ideaforge Technology and Jaykay Enterprises. Just below it: Sika Interplant Systems, NIBE and DCX Systems. ### Aerospace & Defence - Equipments companies close in size

1. [Avantel Ltd](https://www.sectoralpha.in/stocks/avantel-ltd) ₹3,583 crore
2. [Ideaforge Technology Ltd](https://www.sectoralpha.in/stocks/ideaforge-technology-ltd) ₹3,125 crore
3. [Jaykay Enterprises Ltd](https://www.sectoralpha.in/stocks/jaykay-enterprises-ltd) ₹2,947 crore
4. Vinyas Innovative Technologies Ltd ₹1,866 crore
5. [Sika Interplant Systems Ltd](https://www.sectoralpha.in/stocks/sika-interplant-systems-ltd) ₹1,799 crore
6. [NIBE Ltd](https://www.sectoralpha.in/stocks/nibe-ltd) ₹1,717 crore
7. [DCX Systems Ltd](https://www.sectoralpha.in/stocks/dcx-systems-ltd) ₹1,478 crore

[All 25 Aerospace & Defence - Equipments companies, largest first](https://www.sectoralpha.in/sectors/aerospace-defence-equipments#all-companies)

### Companies close in size in other industries

1. [GRM Overseas Ltd](https://www.sectoralpha.in/stocks/grm-overseas-ltd) ₹1,875 crore · FMCG - Rice
2. [Cosmo First Ltd](https://www.sectoralpha.in/stocks/cosmo-first-ltd) ₹1,874 crore · Packaging - BOPP
3. Vinyas Innovative Technologies Ltd ₹1,866 crore
4. [K C P Ltd](https://www.sectoralpha.in/stocks/k-c-p-ltd) ₹1,865 crore · Cement
5. [Glass Wall Systems (India) Ltd](https://www.sectoralpha.in/stocks/glass-wall-systems-indialtd) ₹1,863 crore

## What else do people ask about Vinyas Innovative Technologies? ### What is Vinyas Innovative Technologies's share price today? Vinyas Innovative Technologies Ltd's share price is ₹1,530.00, +30.8% over the past year. The whole company is worth ₹1,940 Cr on the market. In the last 52 weeks it traded between ₹832 to ₹1,675; today it is 83% of the way up from the low, 16.6% above its 200-day average (as of 3 November 2026). ### What were Vinyas Innovative Technologies's latest quarterly results? Vinyas Innovative Technologies Ltd reported revenue of ₹302 Cr and net profit of ₹22.0 Cr for the Mar 2026 quarter. Revenue rose 22.3% and profit rose 83.3% compared with a year earlier. Earnings per share were ₹17.11. The operating margin was 13.0%, 3.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Vinyas Innovative Technologies's market cap? Vinyas Innovative Technologies Ltd's market capitalisation is ₹1,940 Cr at a share price of ₹1,530.00. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Vinyas Innovative Technologies performing? Vinyas Innovative Technologies Ltd's share price has been rising for 21 weeks. In its latest quarter, revenue rose 22.3% and profit rose 83.3% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 13 weeks running (as of 3 November 2026). ### Will Vinyas Innovative Technologies's share price go up? This page does not forecast Vinyas Innovative Technologies Ltd's share price. What it shows instead: the share price is ₹1,530.00, and it has been rising for 21 weeks. Its P/E of 63.6× is higher than 41% of its own last 3 years (as of 3 November 2026). ### Where is Vinyas Innovative Technologies in its business cycle? Vinyas Innovative Technologies Ltd's FY26 operating margin was 12.0%, against a 7-year range of 5.0% to 12.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 13.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Vinyas Innovative Technologies story? The main question: profits are rising, but only −82% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Vinyas Innovative Technologies a stock worth studying right now? What the numbers show: Vinyas Innovative Technologies Ltd's earnings have grown faster than its share price. Earnings per share grew +59.0% in a year while the price moved +30.8%. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Vinyas Innovative Technologies share price forecast for 2026? What management itself guided: FY27 order inflows goal 25-30% above FY26 level of ₹960 crore (implies ₹1,200-1,250 crores) What is changing at Vinyas Innovative Technologies, from the latest results and calls: order book execution into fy27 revenue, new system-integration facility operationalisation and export mix sustaining at 50% of revenue. What would change the story: If FY27 order inflows come in below 1,000 Cr (missing the guided 1,200 to 1,250 Cr range) and debtor days expand beyond 180, indicating that the revenue miss is accompanied by further working-capital deterioration, the volume-ramp thesis would break. Alternatively, a single-quarter profit spike from an asset sale or tax reversal masquerading as operating improvement would invalidate the inflection narrative. ### Where does this page get Vinyas Innovative Technologies' management information? From Vinyas Innovative Technologies' results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india
- Defence stocks: https://www.sectoralpha.in/sectors/aerospace-defence-equipments

This is research, not advice. We’re not SEBI-registered.