Vivo Collaboration Solutions Ltd Q2/H1 FY26 – Sales ₹0 Cr, OPM -578%, PAT -₹2.03 Cr, Annualised EPS -₹20.14: From Cloud Telephony to EV Charger Dreams
1. At a Glance
Vivo Collaboration Solutions Ltd currently sits at a market cap of roughly ₹15.7 crore, trading around ₹78, which is a funny number because the company’s latest half-year sales are literally zero. Yes, zero. Nada. Zilch. Meanwhile, half-year PAT stands at -₹2.03 crore, OPM is an Oscar-winning -578%, ROE and ROCE both chilling at -10.6%, and the company is proudly debt-free because… well… nobody wants to lend when revenues have taken a vow of silence.
The stock has still delivered ~10.6% return in 3 months and ~21.9% in 6 months, proving once again that Indian markets are a spiritual experience, not a spreadsheet exercise. Book value is ₹51.2, price-to-book at 1.52, and EPS is a solid -₹10.07 for H1 FY26, which annualises neatly to -₹20.14.
Latest results are half-yearly, officially approved by the board in November 2025, and the core voice platform business has been shut down as of March 31, 2025. The company now wants to reinvent itself as an EV charger and power electronics design house under the brand TurboLatch. Yes, TurboLatch. Buckle up.
2. Introduction
Vivo Collaboration Solutions Ltd is what happens when a telecom services company wakes up one morning, looks at its P&L, and says: “Bhai, yeh toh kaafi zyada negative ho gaya.”
Founded in 2012, Vivo originally played in the enterprise cloud telephony space—voice platforms, integrations, global telecom service providers, the whole jazzy SaaS-before-SaaS-was-cool story. For a few years, it even looked respectable. FY21 and FY22 had margins that would make today’s version cry quietly in a corner.
Then reality happened.
By FY24 and FY25, revenues collapsed faster than a weekend crypto token. Operating losses piled up, net worth started melting, and management finally pulled the plug on the voice platform business effective March 31, 2025. This wasn’t a “strategic pause.” This was a full-on exit.
Now, instead of selling minutes and APIs, Vivo wants to design EV chargers, power controllers, inverters, and fight imported hardware using indigenous design. Ambitious? Yes. Funded? Questionable. Proven? Absolutely not.
So today, Vivo is not a telecom company, not yet a power electronics company, but rather a corporate chrysalis. Whether it becomes a butterfly or remains… packaging material… is the entire investing thesis.
3. Business Model – WTF Do They Even Do?
Historically, Vivo did everything. And when we say everything, we mean that dangerous corporate phrase: “Objects Clause Max Pro.”
ITES, BPO, software, hardware, training, agency distribution, e-commerce—if it existed in the MCA dictionary, Vivo probably had it listed. Practically though, the core business was enterprise cloud telephony, integrating voice and video platforms for global telecom clients.
That business is now dead. Officially closed. RIP.
The New Avatar: TurboLatch & Power Electronics
In FY25, management announced a pivot. Vivo wants to become an original design house in power electronics—specifically:
Controllers for EV chargers
Fast chargers
Inverters
Power control systems
The logic is simple and patriotic: imported EV chargers bad, local design good. The plan is to invest in R&D, design controllers, and license or commercialise them under the brand TurboLatch.
Right now, this is still conceptual + R&D stage. There is no revenue from EV chargers yet. No commercial orders. No production numbers. Just intent, branding, and hope.
So if you’re buying Vivo today, you are not buying a telecom business. You are buying management optimism plus a balance sheet runway.
Result Type Detected: Half-Yearly Results EPS Annualisation Rule Applied: EPS × 2
Half-Yearly Comparison Table (₹ Crore)
Source table
Metric
Latest H1 FY26 (Sep’25)
H1 FY25
Previous Half (Mar’25)
YoY %
HoH %
Revenue
0.00
1.73
0.87
-100%
-100%
EBITDA
-2.37
-1.70
-2.66
Deteriorated
Improved
PAT
-2.03
0.69
-1.95
-394%
-4%
EPS (₹)
-10.07
3.42
-9.68
-394%
-4%
Annualised EPS (H1 FY26): -₹20.14
Commentary time: Revenue has gone to zero because the core business was shut. Losses continue because fixed costs, people, compliance, and NSE invoices don’t care about your pivot story. PAT deterioration YoY is ugly, but sequentially, losses are at least not exploding further. That’s the nicest
