Penny stock below Rs 5: This micro-cap company bags new orders worth Rs 22,50,00,000 from various clients; Eyeing massive revenue in FY24 – Check details inside!
The stock is down by 7 per cent in 1 year while in 2 years the stock is up by 55 per cent.
Vikas Ecotech Limited informed that the company has received orders worth about Rs 22,50,00,000 from various clients for speciality polymer compounds. These orders will be serviced within the next 30-45 days wiz latest by 15 February 2023. The clients are Alert India, Capstan Rubber, Polycab India Limited, International Switchgears Pvt Ltd, Dexter Chem, Arvind Limited, Omega Polymicrons, Relaxo Footwear, Narmada Polymers, KEI Industries Ltd, RMC Switchgears Ltd, Chand Engineering, Tej Shoe Tech and Raghav Lifestyle.
The company will achieve almost Rs 100 crore revenue contribution with these orders from the speciality polymer compounds business vertical in the current fiscal so far and is eyeing another bout of order inflow tapping into the upcoming seasonal exports period during January & March 2024.
Vikas Ecotech's technical team has devoted significant time and effort to developing new, enhanced grades of speciality compounds. These custom-tailored grades offer superior efficacy and cost-performance, providing maximum benefit to end users. The team's relentless efforts have resulted in successfully developing and testing several new grades, some of which have even received patents. This technical edge is key to achieving the company's targeted Rs 150 crore revenue goal for the current financial year.
Intending to expand its speciality polymer compounds and chemicals business, Vikas Ecotech recently acquired a plasticizer manufacturing business for an estimated enterprise value of Rs 27 crore. This all-cash deal is expected to bring in additional revenue of over Rs 200 crore annually in the first year alone. The company has solidified this acquisition by signing a definitive Share Purchase Agreement with the current shareholders of the Plasticizer Manufacturing Business. The product range of the acquired business aligns seamlessly with and augments the company's existing product portfolio.
The company allocated 10,00,00,000 fully convertible warrants to the Promoter and Managing Director of the Company (Vikas Garg), with the conversion of 3,00,00,000 warrants into Equity upon the receipt of 75 per cent of the issue price per warrant, amounting to Rs 7,65,00,000, the Board of Directors. During this meeting, the Board approved the allotment and conversion of 3,50,00,000 warrants into 3,50,00,000 Equity shares at a face value of Rs 1 each.
Today, shares of VEL plunged 1.20 per cent to Rs 3.30 per share with an intraday high of Rs 3.34 and an intraday low of Rs 3.21. The stock’s 52-week high is Rs 5.09 and its 52-week low is Rs 2.38. The stock is down by 7 per cent in 1 year while in 2 years the stock is up by 55 per cent. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
Related articles
-
Multibagger penny stock at Rs 42 with 1,800 per cent returns: This micro-cap company imports new high-tech machinery worth Rs 1 crore to boost production and enter new markets
-
Penny stock below Rs 5: This specialty chemicals company bags largest-ever export order worth Rs 165 million from Yusuf Bin Ahmed Kanoo Group
-
Multibagger penny stock at Rs 22: This electrical equipment company bags new orders worth Rs 40,00,00,000 in West Bengal
-
Penny stock under Rs 5: This micro-cap company acquires 100 per cent Equity of Shamli Steel Pvt Ltd at an enterprise value of Rs 1,60,00,00,000 in a share swap deal – know more here!
-
Penny stock below Rs 5: This micro-cap company approved purchase of equity stake in Baleshwar Kharagpur Expressway Ltd and Shamli Steels Pvt Ltd – details inside
-
Low PE penny stock under Rs 25: This micro-cap company bags new orders from US customers!
-
Penny stock below Rs 60 & Rs 300 crore order book: This micro-cap company receives new order worth Rs 5,56,57,000 from National Highways Authority of India!
-
Multibagger penny stock below Rs 30: This micro-cap company bags new orders worth Rs 78,70,000 from Government of West Bengal!
-
Penny Stock under Rs 5 jumps 28 per cent in just 3 days: Heavy buying witnessed in this micro-cap stock following 74 per cent debt write-off!
-
Multibagger penny stock below Rs 100: This micro-cap company bags new orders worth Rs 41,15,00,000 from L&T and others!
-
Dilipkumar Lakhi's portfolio multibagger penny stock with Rs 169.2 crore order book: This iron & steel company receives new orders worth Rs 10,00,00,000 from a PSU company!
-
Penny stock under Rs 5: Heavy buying witnessed in this micro-cap stock; hit 10 per cent upper circuit post debt reduction programme & patent win!
-
Rs 55,300 crore order book: This multibagger civil construction company receives new orders worth Rs 1,500 crore from National Cooperative Development Corporation!
-
Penny stock below Rs 5: This micro-cap company receives first patent for Smart Corrosion Protection Technology – know more here!
-
Penny stock under Rs 5 in green after the company slashes debt by 74 per cent in less than 2 years - Marking significant financial turnaround!
-
Multibagger penny stock under Rs 35: This micro-cap company receives new order worth Rs 52.48 crore from Ministry of Petroleum and Natural Gas!
-
Multibagger penny stock under Rs 70 with Rs 7,078 crore order book: This telecom infrastructure company receives fresh orders worth Rs 67 crore!
-
Penny stock below Rs 30: This micro-cap company bags new orders worth Rs 63,20,000 from Government of West Bengal
-
Foreign Portfolio Investments (FPIs) bought 80,00,000 shares of this multibagger penny stock: Company bags new EV chargers order from BPCL; do you own it?
-
Penny stock below Rs 10: This small-cap company bags new order worth Rs 49,50,00,000 from Gujarat Gas Ltd!