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Shares of Vikas EcoTech Ltd hit upper circuit of Rs 3.46 on Monday as the company announced that it has secured orders worth Rs 22.5 crore for specialty polymer compounds. The company stated, through
Shares of Vikas EcoTech Ltd hit upper circuit of Rs 3.46 on Monday as the company announced that it has secured orders worth Rs 22.5 crore for specialty polymer compounds. The company stated, through an exchange filing, that it intends to fulfil these orders within the next 30-45 days, with the completion date set for February 15, 2023.
“The company will achieve almost Rs 100 crore revenue contribution with these orders from the specialty polymer compounds business vertical in the current fiscal so far and is eyeing at another bout of order inflow tapping into the upcoming seasonal exports period during January March 2024,” it added.
Vikas Organics is a pioneer in manufacturing of Plasticizers. It is a well-known name amongst the Indian industrial houses for almost 25 years. The firm has an annual installed capacity of 12000 metric tons per annum of Plasticizers.
Vikas Ecotech is a Delhi-based manufacturer of specialty polymers and specialty additives and chemicals for plastics and rubbers industries, catering to a wide horizon of applications in agriculture, infrastructure, packaging, electrical, footwear, pharmaceuticals, automotive, medical devices and components and other consumer goods.
Earlier in August, the firm had paid Rs 101 crore dues to its lenders and is aiming to become debt-free by financial year 2023-24. “The company has till date paid a debt of Rs 1012 million (Rs 101.2 crore) to its lenders and the outstanding amount remains at Rs 600 million (Rs 60 crore),” it had said in a statement on BSE.
