Multibagger stock under Rs 5: This micro-cap company receives orders worth Rs 20 crore from Prism Johnson Limited!
From 0.67 per share to Rs 3.19 per share, the stock gave multibagger returns of 376.12 per cent in 16 years.
Vikas Ecotech Limited is pleased to announce having received orders valued at Rs 200 million approx. (Rs 20 crore) for supplying coal to one of the prestigious cement manufacturers namely Prism Johnson Limited (Cement unit II) promoted by the Rajan Raheja Group. The supplies for this order will start within the next 15 days and will be completed by October 31, 2023.
Vikas Ecotech Limited has been actively exploring business opportunities in the energy segment including the conventional sources of energy being used in India as well as the renewable and green energy segments. The company ventured into the conventional energy market by supplying coal which is being used as the major source of energy in India in order to make space for setting a firm foot in the energy business segment, while the company is parallelly exploring opportunities amongst various modern and futuristic clean, green and renewable energy materials and products including solar, gas, and the latest hydrogen fuel cells as well.
The company’s repayment of debt in order to move ahead on its plans to become a debt-free entity in the ongoing financial year. As a part of its defined debt-reduction program, it has further repaid bank debts by Rs 7.30 crore, taking the total amount of bank debt reduced to Rs 71.8 crore and the overall bank-debt reduction to Rs 98.2 crore approx. from the peak level of about Rs 170 crore, till date.
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Vikas Ecotech Limited is primarily engaged in the business of manufacturing speciality chemicals focused on additives and speciality polymer compounds. The shares of the company saw a spurt in volume by more than 2 times on BSE.
According to the financials, Vikas EcoTech has a market cap of Rs 353.90 crore. The company reported excellent numbers in its Quarterly Results and annual results. The net sales increased by 61.20 per cent to Rs 403 crore and net profit skyrocketed by 900 per cent to Rs 10 in FY23 compared to FY22
On Friday, shares of Vikas Ecotech Ltd surged 4.59 per cent to an intraday high of Rs 3.19 per share from its previous closing of Rs 3.05. From 0.67 per share to Rs 3.19 per share, the stock gave multibagger returns of 376.12 per cent in 16 years.
Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.