Multibagger stock below Rs 5: This micro-cap company reduces debt as it starts a journey to become debt-free!

The stock gave multibagger returns of 132 per cent in just 2 years. 

Vikas Ecotech informed that the company has paid back Rs 52.20 million approx., making the total amount of bank-debt reduced to Rs 791.30 million and the overall bank-debt reduction to Rs 908.70 million till date.  

It is pertinent to submit that the company’s goal of becoming a 100 per cent debt-free entity within FY 2023-2024 under the debt reduction program, is on persistence and support extended by the promoters of the company. 

On Wednesday, shares of Vikas Ecotech Ltd zoomed 0.74 per cent to Rs 2.72 per share with a day’s high of Rs 2.73 and a day’s low of Rs 2.70. The stock gave multibagger returns of 132 per cent in just 2 years. 

Vikas Ecotech Limited is primarily engaged in the business of manufacturing speciality chemicals focused on additives and speciality polymer compounds.  

According to the financials, Vikas Ecotech has a market cap of Rs 256 crore. The net sales surged by 48 per cent in Q3FY23 over Q3FY22. In FY22, net sales skyrocketed to 115.51 per cent over FY21. The company reported a net profit of Rs 1 crore in FY22 whereas it reported a net loss of Rs 14 crore in FY21.  

Investors should keep an eye on this micro-cap stock.