Ahmedabad-based Vivanta Industries Ltd engaged in providing consultancy and Turnkey solutions for projects from conceptualisation to implementation is considering investment in Trinity Ganesh Pvt Ltd (Formerly known as Ganesh Corporation). Board of Directors of the company to meet on Friday, 29th December to consider and approve the share swap ratio and to further discuss the investment model in Trinity Ganesh Pvt Ltd. As per the release, company aims to transform operations with focus on next-gen tech businesses and venturing into new verticals including drone, Information Technology, AI and Robotics, Charging station for electric vehicles among others.
In the Extra-Ordinary General Meeting of the Company held on February 13, 2023, members of the company had approved amendment of objects clause of the Memorandum of Association allowing the company to venture in to multiple businesses including Agriculture & Animal Feed, Industrial automation, industrial robotics systems & drone, charging station for electrical vehicles among others.
Company in September 2022 was awarded with turnkey contracts to establish biogas projects and industrial park in the state of Gujarat amounting Rs. 37 crore. The company to commission the biogas project in Sabarkatha district in a near future and expects to start work on biogas projects in Banaskantha and North Gujarat with 40 MT capacity. The aggregate cost of these projects costing Rs 12 crore.
For H1FY24, company reported multi-fold rise in the total income to Rs. 23.03 crore as compared to total income of Rs. 0.90 crore in H1FY23. Net Profit during H1FY24 was reported at Rs. 1.01 crore, 47% rise Y-o-Y from Rs. 68 lakh net profit reported in H1FY23. For FY23, company reported Net Profit of Rs. 1.30 crore on Total income of Rs. 24.81 crore. As on September 2023, company has net reserves amounting to Rs. 4.02 crore. Promoter Group holding in the company as on 30 September 2023 stands at 39.14%.
During the current financial year of FY23-24, company’s board of directors had approved a bonus issue of equity shares in the ratio of 1:4 i.e., 1 new equity share of Rs 1 each for every 4 existing equity shares of Rs 1 each held by the company's shareholders. Pursuant to the approval, company allotted 2.5 crore bonus shares of Rs. 1 face value. Trading approval was received from Bombay Stock Exchange on 15 September 2023. In February 2023, share of the company with face value of Rs. 10 each were split into 10 equity shares of Rs. 1 face value.
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