Business

Vikas Ecotech Ltd. operating at pre covid levels and targeting massive revenue in the current fiscal

Mumbai (Maharashtra) [India], October 20: BSE listed Vikas Ecotech Ltd. (BSE: 530961) has informed that it is now witnessing pre-COVID 19 levels of operations and running towards a massive growth in the current year’s revenue and profitability, which is evident from H1_FY22 performance, wherein top line grew by 181% as compared to the corresponding period of the previous fiscal. EBIDTA for the first half H1_FY22 stood at 8.51 Crore compared to Rs 7.12 Cr of H1_FY21. With an increased level of business, the company is confident of turning around and shall close this fiscal year in Profits.

Commenting on the occasion, CEO Mr. Dinesh Bhardwaj said, “We believe in looking ahead, while we have recently added on newer business segments- to our offing, we have been working on nurturing our conventional businesses as well. The team has put a lot of planning, and hard work in reviving the sales in all the product segments and the reenergized team efforts have resulted in an inflow of fresh orders from some of the renowned names in the industry.” he added.

Furthering the Steel Pipe Fittings manufacturing project, Vikas Ecotech Limited has taken possession of the ready to use factory space at Ghaziabad; the statutory registrations have been initiated, and all the statutory requisites will be completed within October’ 2021.

We are happy with the fast pace the team has been working towards establishing this project within December ’2021. The machinery and auxiliaries for the project have started reaching the location, and the team is expecting to be in a position to take a trial run during October’2021. We are confident that this project will start contributing to the Top Line within this financial year.” Mr. Bhardwaj added.

The company is targeting customers of pipes and TMT division which includes Apollo Pipes Ltd, Hitech, Surya Roshni Ltd, JTL Infra Ltd, Prakash Industries Ltd, Vishal Pipes Limited and many others.

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