Penny Stock Below Rs 5 In Focus After Being Awarded One of the Top 75 “Innovative Companies” at Confederation of Indian Industry (CII) Industrial Innovation Awards 2024
The stock is up by 9.84 per cent from its 52-week low of Rs 3.05 per share.
On Monday, shares of Vikas Ecotech Ltd gained 0.90 per cent to Rs 3.32 per share with an intraday high of Rs 3.38 per share and an intraday low of Rs 3.33 per share from its previous closing of Rs 3.32 per share. The stock’s 52-week high is Rs 5.63 and its 52-week low is Rs 3.05.
Vikas Ecotech Limited is thrilled to announce its recognition as one of the top 75 "Innovative Companies" at the Confederation of Indian Industry (CII) Industrial Innovation Awards 2024. This prestigious award was conferred upon the company at the CII Annual Summit 2024 on December 12-13, 2024, in New Delhi. This significant achievement underscores the company's dedication to innovation, research, and development, particularly in the areas of Intelligent Coatings based on Nanocomposites, waste management, and EMI Shielding.
The CII Industrial Innovation Awards 2024 recognize and celebrate exceptional contributions to India's industrial landscape. The Confederation of Indian Industry (CII) is a leading industry association that plays a crucial role in promoting economic growth and fostering innovation. By honouring Vikas Ecotech Limited, CII acknowledges the company's innovative solutions and its potential to drive positive change in the industry. This recognition further solidifies the company's position as a global leader in sustainable and cutting-edge technologies.
Earlier, in its significant strides in its Specialty Chemicals & Compounds division. The division has solidified its market position by securing several high-profile clients, including industry giants like Narmada Polymer, M.P. Birla Group, and Lapp India. This expansion reflects the company’s ability to deliver innovative, high-quality specialty compounds that cater to diverse industry needs. With a projected revenue of Rs 500 million by the end of Q4FY25, the division is poised for continued growth and reinforces Vikas Ecotech Limited’s leadership in the specialty chemicals and compounds market.
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About the Company
Vikas Ecotech, a leading manufacturer of speciality chemicals and polymers in Delhi, caters to a wide range of industries with stabilizers, plasticisers, and other additives. They are a unique player in the global market, being the only Indian manufacturer of organotin (a key stabilizer) with in-house R&D, and are constantly expanding through acquisitions, like a recent plasticizer business and a steel company for infrastructure projects. Vikas Ecotech also includes Vikas Organics, a well-established plasticizer producer with a strong domestic and international presence.
According to Quarterly Results, the net sales increased by 47 per cent to Rs 89.23 crore and net profit increased by 61 per cent to Rs 10.38 crore in Q2FY25 compared to Q2FY24. Looking at the half-yearly results, the net sales increased by 61 per cent to Rs 190.29 crore and net profit increased by 311 per cent to Rs 13.23 crore in H1FY25 compared to H1FY24. In FY24, the company reported net sales of Rs 258.63 crore, operating profit of Rs 19.78 crore and net profit of Rs 6.85 crore compared to net sales of Rs 402.67 crore, operating profit of Rs 24.82 crore and net profit of Rs 9.53 crore in FY23.
The company has a market cap of Rs 593 crore. The stock is up by 9.84 per cent from its 52-week low of Rs 3.05 per share. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.