The inventory is up by 45 per cent from its 52-week low of Rs 2.82 per share.
Vikas Ecotech, a number one producer of specialty chemical substances and polymers in Delhi, caters to a variety of industries with stabilizers, plasticisers, and different components. They’re a novel participant within the world market, being the one Indian producer of organotin (a key stabilizer) with in-house R&D, and are consistently increasing by way of acquisitions, like a current plasticizer enterprise and a metal firm for infrastructure tasks. Vikas Ecotech additionally consists of Vikas Organics, a well-established plasticizer producer with a robust home and worldwide presence.
In keeping with Quarterly Outcomesthe web gross sales elevated by 5 per cent to Rs 71.73 crore and web revenue elevated by 28.5 per cent to Rs 2.30 crore in Q4FY24 in comparison with Q4FY23. In FY24, the corporate reported web gross sales of Rs 258.63 crore, working revenue of Rs 19.78 crore and web revenue of Rs 6.85 crore in comparison with web gross sales of Rs 402.67 crore, working revenue of Rs 24.82 crore and web revenue of Rs 9.53 crore in FY23 .
Vikas Ecotech Restricted (VEL) not too long ago acquired Shamli Steels Non-public Restricted by way of a share swap. To realize this, Vikas Ecotech issued 38,03,50,000 new fairness shares to the general public shareholders of Shamli Steels at Rs 4.20 per share, representing a premium of Rs 3.20. This successfully swapped 20 Vikas Ecotech shares for 1 Shamli Steels share, leading to a complete acquisition worth of Rs 160 crores. The issuance was permitted by Vikas Ecotech’s shareholders and acquired in-principle approval from the Bombay Inventory Trade (BSE) and the Nationwide Inventory Trade of India (NSE). The brand new Vikas Ecotech shares have the identical rights as present shares and will likely be listed on each exchanges. This share issuance will increase Vikas Ecotech’s issued share capital to Rs 1,76,87,06,024 and makes Shamli Steels a wholly-owned subsidiary.
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In a separate growth, Vikas Ecotech’s not too long ago acquired subsidiary, Vikas Organics (VOPL), secured its largest export order ever. This variable value contract, valued at roughly Rs 165 million, includes common provides of vinyl plasticizers to the distinguished Yusuf Bin Ahmed Kanoo Group in Saudi Arabia. Each VEL and VOPL are working collectively to leverage their experience and present export expertise to strengthen their worldwide presence. Moreover, VEL is considerably upgrading VOPL’s manufacturing amenities in Daman to enhance effectivity, enhance capability, and allow the manufacturing of recent plasticizer variants. This growth goals to solidify VEL’s place as a key participant within the world plasticizer market.
As we speak, shares of Vikas Ecotech Ltd gained 2.76 per cent to an intraday excessive of Rs 4.09 per share from its earlier closing of Rs 3.98 with a spurt in quantity by greater than 1.1 occasions on BSE. The corporate has a market cap of Rs 547 crore. The inventory’s 52-week excessive is Rs 5.63 and its 52-week low is Rs 2.82. The inventory is up by 45 per cent from its 52-week low of Rs 2.82 per share.
Disclaimer: The article is for informational functions solely and never funding recommendation.
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