Vikas Ecotech Share Price šš°
Vikas Ecotech, a leading player in the specialty chemical manufacturing industry, has witnessed a remarkable surge in its share price. The company recently repaid its debt of INR 119 crore and aims to become debt-free by the end of the financial year 2023-24.
According to a statement released by the company, Vikas Ecotech currently has a debt of only INR 42.5 crore. On Thursday, December 14, 2023, the company’s shares were trading at INR 3.35 with a growth of 1.52%. The following day, Friday, December 15, 2023, the share price further increased by 2.15% to INR 3.32.
Vikas Ecotech has successfully repaid INR 118.70 crore of debt to its creditors during the financial year 2023-24. By the end of this financial year, the company aims to become completely debt-free. The share price of Vikas Ecotech witnessed a slight dip of 1.50% during Wednesday’s trading session, reaching INR 3.30.
The primary focus of Vikas Ecotech lies in providing specialized polymers and specialty chemicals to the plastic and rubber industries. Additionally, the company also operates in various sectors such as agriculture, infrastructure, packaging, electrical, footwear, pharmaceuticals, automotive, and medical devices.
During the September 2023 quarter, Vikas Ecotech achieved a net sales figure of INR 60.74 crore. However, the company experienced a decline of 54.78% in sales compared to the same quarter of the previous year. The net profit for the September quarter stood at INR 1.77 crore, marking a decrease of 50.15% compared to the previous year.
Vikas Ecotech recorded an EBITDA of INR 5.25 crore during the September quarter.
With these positive developments, Vikas Ecotech is on track to strengthen its position in the market and continue its growth trajectory. Stay tuned for further updates on the company’s performance.
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