Penny Stock Below Rs 4 In Green After Board Bagged Order of Rs 200 Million

Vikas Ecotech Limited has shared an important update from the Speciality Polymer-Rubber Compounds and Specialty Chemical Additives business divisions. The company in an exchange filing said that it has bagged fresh orders valued well over Rs 200 Million.
The company added that its Specialty Compounds and Chemicals business has grown at a 30+% on a year-on-year basis for the last 3 years post the Covid-19 crisis.

Its team has been relentlessly working towards growing as well as broad-basing the customer base and has been proudly successful in roping in many of the renowned names added to the customer profile including Olectra Greentech Limited, Polycab India Limited, DCW Limited, Khadim India Limited, Paragon Footwears and many more industry leading names in the respective product segments.
Vikas Ecotech is a New Delhi-based company engaged in the business of specialty polymers and specialty additives and chemicals for plastics and rubber industries. It caters to a wide horizon of applications in agriculture, infrastructure, packaging, electrical, footwear, pharmaceuticals, automotive, medical devices and components and other consumer goods.

Earlier in June, the company had said that it is aiming to become debt-free by the financial year 2023-2024. "Management of the company, while undertaking this debt reduction programme on persistence and support extended by the promoters and other stakeholders of the company, decided to become 100 per cent debt-free entity within FY 2023-2024 and since then continuously reducing its bank-debt in a gradual manner," it said.

On Monday, the shares of penny stock Vikas Ecotech opened at Rs 3.14 compared to the previous close of Rs 3.12. The stock made a 52-week-high of Rs 4.13 on (21/10/2022) and a 52-week-low of Rs 2.38 on (28/03/2023).