Vikas Lifecare shares rises as it bags Rs 16 crore order

Vikas Lifecare's shares rose 3 per cent during the early trade on Thursday after the company announced a big order win for its infrastructure products division. The trading and distribution player's infra material division has bagged fresh orders worth (Rs 160 million) Rs 16 crore for the Q4FY23, it said in a regulatory filing.

Vikas Lifecare's infra division has achieved Rs 63 crore sales in the ongoing financial year as of December 31, 2022. It has exceeded the targeted sales volumes by 5 per cent and is heading to top the annual sale target of Rs 80 crore by at least 10 per cent, the said the filing further.

Vikas Lifecare's shares jumped 3 per cent to Rs 4.63 on Thursday, following the announcement, before paring it partially. The scrip settled at Rs 4.51 on Wednesday on BSE. The company is currently commanding a marketcap of Rs 665 crore.

Vikas Lifecare is looking to expand the Infra products division and is moving forward with plans for creating forward integration for the infrastructure related products and materials. It has been working on various proposals which are at different stages of negotiation and finalization.

It will participate in infrastructure development projects via collaborations and financial investments, which will elevate the scope of business and will add to the performance on the division.

Vikas Lifecare's in-house research & development (R&D) unit head received recognition from the Government of India earlier this week. The Department of Scientific and Industrial Research (DSIR), which is under the Ministry of Science and Technology, has provided the recognition

Vikas Lifecare is engaged in various business segments including polymer & rubber commodity, compounds and master-Batches. It also manufactures up-cycled compounds from industrial and post-consumer waste and scrap materials. It also provides a wide variety of base polymers and commodity raw material to ONGC.
 

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