Vikas EcoTech is currently trading at Rs. 5.15, up by 0.03 points or 0.59% from its previous closing of Rs. 5.12 on the BSE.
The scrip opened at Rs. 5.12 and has touched a high and low of Rs. 5.25 and Rs. 4.87 respectively. So far 974079 shares were traded on the counter.
The BSE group ‘T’ stock of face value Rs. 1 has touched a 52 week high of Rs. 6.90 on 31-Jan-2022 and a 52 week low of Rs. 1.01 on 20-Apr-2021.
Last one week high and low of the scrip stood at Rs. 5.50 and Rs. 4.84 respectively. The current market cap of the company is Rs. 485.92 crore.
The promoters holding in the company stood at 15.60%, while Institutions and Non-Institutions held 0.08% and 84.33% respectively.
Vikas Ecotech has enhanced the investment in Green Renewable Energy Systems to support the electricity requirement of its manufacturing facilities located Shahjahanpur in Rajasthan. The company will add solar power generating system of 172kwp capacity, which will cost about Rs 1.05 crore which in turn will decrease the electricity bills by about Rs 0.21 crore per annum thus aiding better cost efficiency for the manufacturing plant. This system will be fully established and operational starting a direct contribution to the business economics by April’2022.
Vikas Ecotech Rajasthan plants already have a time-tested Solar Power Generating System of 290kwp capacity of electric power supporting the Rajasthan facilities. The new addition will take the total annual savings to Rs 0.5 crore. Wiz about 33% of the average electricity costs. The company aims to enhance its reliance on Renewable Energy Systems targeting a electrically self-sufficient manufacturing unit by the year 2025.
The recent reductions in the bank debt and the reduced load of the interest thereon, clubbed with the savings offered by the Renewable Energy Systems will offer a definite and considerable economies and provide an edge to the company businesses as soon as the forthcoming F.Y. 2022- 23.
Vikas Ecotech is a New Delhi based company engaged in the business of Speciality Polymers & Specialty Additives and Chemicals for Plastics & 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.