DSIJ Mindshare

The company plans of becoming a debt free entity by the end of FY24.

Earlier, the company had received orders valued at Rs 200 million approx. (Rs 20 crore) for supplying coal to one of the prestigious cement manufacturers namely Prism Johnson Limited (Cement unit II) promoted by the Rajan Raheja Group. The supplies for this order will start within the next 15 days and will be completed by October 31, 2023.

The company’s repayment of debt in order to move ahead on its plans to become a debt-free entity in the ongoing financial year. As a part of its defined debt-reduction program, it has further repaid bank debts by Rs 7.30 crore, taking the total amount of bank debt reduced to Rs 71.8 crore and the overall bank-debt reduction to Rs 98.2 crore approx. from the peak level of about Rs 170 crore, till date.

The company’s repayment of debt in order to move ahead on its plans to become a debt-free entity in the ongoing financial year. As a part of its defined debt-reduction program, it has further repaid bank debts by Rs 7.30 crore, taking the total amount of bank debt reduced to Rs 71.8 crore and the overall bank-debt reduction to Rs 98.2 crore approx. from the peak level of about Rs 170 crore, till date.

According to the financials, Vikas EcoTech has a market cap of Rs 377 crore. The company reported excellent numbers in its quarterly results and annual results. The net sales increased by 61.20 per cent to Rs 403 crore and net profit skyrocketed by 900 per cent to Rs 10 in FY23 compared to FY22