Vikas WSP secures order worth Rs. 210 crore
Vikas WSP has received an export order backed by Letter of Credit (LoC) for US$ 30 million (Rs 210 crore) for the export of guar gum powder to be used in oil fields in the Middle East. The export order received by the company is consisting of the stable viscosity for 18 months yielding viscosity over 45 cps and this is first order of its kind developed by the R&D of the company.
The company’s management in its exchange filing said that it is actively pursuing for more orders and some export orders are under the process of negotiation.
In the last fiscal year, the company had generated revenue of ~Rs. 800 crore, this current export order gives strong revenue growth for the near terms.
Vikas WSP is one of India's foremost guar gum powder (GGP) manufacturer, supplying to all sectors of the food industry with an extensive range of quality products.
In today’s trading session, the stock of Vikas WSP opened at Rs. 11 apiece and touched intra-day high of Rs. 11.20.