Vikas Ecotech Limited has announced a significant boost to its revenue with the procurement of orders totaling approximately INR 225 Million for specialty polymer compounds. The company is set to fulfill these orders by February 15, 2024.
This influx of orders is poised to propel Vikas Ecotech Limited’s revenue from the Specialty Polymer Compounds business vertical to nearly INR 1000 Million for the current fiscal year. The company has its sights set on further order inflow during the upcoming seasonal exports period from January to March 2024.
Behind this success is Vikas Ecotech’s technical team, which has not only developed superior grades of specialty compounds but has also obtained commercial-scale approval for several, some of which are now patented. These advancements, coupled with relentless efforts, position the company to achieve its targeted INR 1500 Million revenue from the Specialty Compounds business during the current financial year.
In line with its expansion strategy, Vikas Ecotech Limited has taken steps to bolster its Specialty Polymer Compounds and Chemicals segment. A recent milestone includes the 100% equity acquisition of a Plasticizer Manufacturing Business, valued at an enterprise value of approximately ~Rs 270 Million. This all-cash deal is on track for completion, and the newly acquired business is anticipated to contribute an additional revenue of about INR 2000+ Million annually for the first year. Furthermore, plans for enhancing production capacity at the newly acquired plant are underway.
Vikas Ecotech Limited’s strategic moves and successful ventures underscore its commitment to growth and innovation in the dynamic landscape of specialty polymer compounds and chemicals. Investors and industry observers will be closely watching the company’s performance as it continues to strengthen its position in the market.