Tuesday, November 5, 2024

Vikas Lifecare Ltd. Bags Rs. 120 Million export order Plans to scale up Exports in FY23

BSE and NSE listed Vikas Lifecare Ltd. (VLL) is an ISO 9001:2015 certified company, engaged in trading and manufacturing of polymer, rubber compounds and additives for plastics, synthetic & natural rubber.

In Agro Products business segment, the Company is getting overwhelming response, receiving regular orders, the company has bagged export orders aggregating Rs. 120
Million of Premium Rice. The company will be expanding its Export Customer base with adding newer target countries and detailed market research will be taken up during January – March 2022 to have a plan in place for scaling up Exports with a
target of Rs. 300 Million during the next Financial year.

Supplies of Piping Systems to Jal Jeewan Mission also achieved a milestone as it crossed Rs. 150 Million in sales in the first six months since the business was started
in June’2021 and business activities/customer response is on the track to comfortably exceed this year targeted sales of Rs. 500 Million for this segment.

In line with the pre-defined non-core assets monetization program, so far, the company has recently signed up definite arrangement to sale assets amounting Rs.
109 Million, expected to be concluded on December 31, 2021.The funds raised from
the sales of these Non-Business assets will be allocated to various business expansions.

The Company also announced that it has received proceeds of recently concluded
Right Issue, wherein partly paid 17,69,32,132 Equity Shares of Re. 1/- each (Re. 0.40/- partly paid up) allotted on Rights basis to the eligible shareholders, in its Bank Account. The Company is in the process of deploying these fund as per the objects of the Right Issue. These partly paid shares have listed with BSE and NSE both, trading commencing on Monday, December 13, 2021with following Scrip Codes – BSE Scrip Code: 890160 – NSE Symbol: VLIFEPP Vikas Lifecare Ltd. is primarily engaged in the various business segments i.e.

Polymer & Rubber Commodity (bulk consumption) Compounds and Master-Batches
(Manufacturing up-cycled compounds from industrial and post-consumer waste materials like EVA, PVC, PP, PE etc.), contributing to the Environment Protection initiatives from the Government of India and fulfilling the mandated EPR obligations
for the conglomerates using hundreds of thousands of tonnes of plastic products and packaging materials. VLL is also a Del-Credere agent of ONGC (Oil and Natural Gas Corporation Ltd.) Petro Additions Limited, a public sector undertaking producing a wide variety of base polymers and commodity plastic raw materials.

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