Vikas Ecotech Limited on Friday announced that the company has received orders worth about Rs 225 Million for the specialty polymer compounds. These orders will be serviced within the next 30-45 days wiz latest by 15 February 2023, the company announced through an exchange filing.
The company will achieve almost Rs 1000 Million 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.
Enhanced Specialty Compounds Targeting Rs 1500 Million Revenue
The technical team at Vikas Ecotech, as a long term strategy has invested valuable time and energies developing technically enhanced, better efficient and custom tailored grades offering maximum efficacy along-with best possible cost to performance preposition for its end users and has successfully developed new better grades of Specialty compounds which have been tested and approved for commercial scale application, some of which have been patented by the company and in return these relentless efforts and technical edge will help the company achieving the targeted Rs 1500 Million from its Specialty Compounds business during this Financial Year.
The Company is following its plan to expand the Specialty Polymer Compounds and Chemicals by all possible means. The company had recently acquired 100 percent equity of a Plasticizer Manufacturing Business valued at enterprise value of approximately Rs 270 Million in an allcash deal which will be completed and all set to contribute an additional revenue of about INR 2000+ Million Per Annum for the first year, which will be expanded further via enhancing the production capacity at the newly acquired plant.
Vikas Ecotech Limited shares
The shares of Vikas Ecotech Limited on Friday at 12:54 pm IST were trading at Rs 3.35, up by 1.52 percent.
