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Vikas Ecotech Board Paybacks 3rd tranche of Debt under its Debt Reduction Program Phase-II Aiming to Enter Zero Debt Regime

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BSE (560961) & NSE (VIKASECO) listed as Vikas Ecotech Ltd. is an emerging player in the global field of the top of the line speciality chemicals players, offering eco-friendly and innovatively better items to the world, has declared that on perseverance and backing stretched out by the advertisers of the Company, it has started the second Phase of the Debt Reduction Program, wherein the Organization has repaid the third trench of Rs. 30 million today, taking the aggregate sum of bank-debt reduced in the Phase-II to Rs. 300 million and the general bank debt reduced to Rs. 520 million to date.


It is relevant to present that the Company has started the Second Phase of the Debt Reduction Program, on steadiness and backing reached out by the advertisers of the Company, wherein generally bank reduction will additionally get decreased by another 20% from the pinnacle openness, adding up to Rs. 350 million


It might kindly further be noticed that post culmination of declared stage II of debt reduction program, the administration of the Company is expected to take care of extra Rs. 200 million (at any rate) before the end of this quarter (Q4_FY 2022).


After finishing both these stages, and expected extra bank-debt reimbursement, bank-debt will get diminished by approx. 55% from the pinnacle openness, making ready towards turning into a 'ZERO Debt Company' in 2023.


Further, advertisers of the Company have planned to get their monetary help unstable credits, accommodated debt reduction program, changed over into value at a fitting stage subsequent to getting legal endorsements.


As of late, Vikas Ecotech had informed trades that it has been enhancing to more up to date showcases with creative items. As a measure of backward integration, the Company has authorized a Steel Pipe Fittings plant, which after a preliminary set up, went into business production nearly 2 months early.


With expanding financial exercises and states push on framework improvement, there is an enormous interest in fittings by all significant steel tube makers like APL Apollo, Jindal, Hi-tech, and so on and they are inclined toward obtaining from the sellers who have inhouse steel tube fitting assembling offices.


Considering it as a long term opportunity, that not just improves the company’s incomes, but also relieves concentration risk. The company has effectively stowed business scale orders. Since the creation of fittings and their provisions are much in front of their planned targets, Vikas is anticipating a decent income commitment of this recently added business section. The organization has been generally as of late empanelled as an endorsed merchant with the U.P. State Horticultural Co-Operative Marketing Federation (HOFED) an UP Govt. Venture. 


It's the first of its sort of empanelment for Vikas Ecotech that also close by other industry aggregates like Supreme Industries, Advance Biocare, Stellar Polyplast and so on Improvements in Intellectual Property: Successful enlistment of the patent for utilization of Nano CaCO3 in Plastic and Rubber Compounds The organization's ultra present-day most recent condition of workmanship, R&D lab embraced research for Nano Composites and their utilization in the plastic and elastic industry, the organization has documented a patent for the utilization of Nano Calcium Carbonate (CaCO3) is a multi-job added substance and modifier.



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