Stock below Rs 10: This multibagger speciality chemicals company recorded 425 per cent growth in Q2FY23 net profit!

Shares of Vikas Ecotech have furnished returns of 111.54 per cent in the last one year

Speciality chemical player Vikas Ecotech has announced its results for the quarter ended on September 30, 2022. The company charted a stellar turnaround in H1FY23. 

The company’s net profit jumped ~425 per cent to Rs 3.5 crore during the second quarter of ongoing fiscal, from Rs 0.66 crore in the same quarter, previous year. Its revenue surged by 80 per cent to Rs 134.93 crore during the Q2FY23. The company had clocked revenue of Rs 75.23 crore in the year ago period. 

For H1FY23, Vikas Ecotech reported a net profit of Rs 4.99 crore. The company had incurred a net loss of Rs 3.22 crore in the H1FY22. Its total revenue grew by 143 per cent to Rs 224.07 crore in the first six months of financial year 2022-23, relative to Rs 93.69 crore in the corresponding period last year. 

Vikas Ecotech Limited (formerly known as Vikas Profin Limited) is engaged in the business of manufacturing and distribution of speciality polymers compounds and additives. The company commenced its business with the trading of chemicals and polymers compounds. Their manufacturing facilities are located at Alwar, Shahjahanpur, Rajasthan, and Noida (SEZ). 

Shares of Vikas Ecotech have furnished returns of 111.54 per cent in the last one year. 

On Friday, shares of the company closed at Rs 3.86, down by 3.86 per cent. The stock has rallied by 10 per cent over the last five trading sessions.