Premium specialty chemical compounds firm Vikas Ecotech has declared its monetary outcomes for the January-March quarter of FY23. The firm has reported an astounding will increase in its internet revenue in the course of the reporting fiscal, driven by higher gross sales and lower in money owed.
As per the alternate, the corporate’s internet revenue in FY23 skyrocketed 584 per cent to Rs 9.52 crore. In FY22, the identical stood at Rs 1.39 crore.
The spotlight of the quarter consists of the issuance of rights. The firm introduced that it the plan to boost Rs 100 crore by means of the issuance of fairness shares and different convertible securities, warrants, bonds, FPO.
For the quarter ended March 31, 2023, the Delhi-based firm clocked a internet revenue at Rs 1.78 crores, down from Rs 2.8 crore tat it had posted in the earlier quarter (October-December). In the March quarter of final fiscal, the corporate’s internet revenue got here in at Rs 1.22 crore.Â
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The whole earnings in the January-March interval got here right down to Rs 69.6 crore from Rs 112 crore in the course of the December quarter. In Q4FY22, the overall earnings was Rs 82 crore.
It decreased the bills in Q4FY23 drastically to Rs 67.26 per cent from Rs 81.45 crore in the corresponding interval of final monetary yr. The expended in December quarter of FY23 was Rs 109 crore. Revenue from operations got here in at Rs 68.3 crore as towards Rs 111.3 in Q3 and Rs 83 crore in This fall FY22.
Earlier this month, the corporate lower its debt as a part of its debt-reduction plan, paying off Rs 52.20 million to the lenders. Its general bank-debt now stands decreased to Rs 908.70 million. The reimbursement is part of the corporate’s strategic plan to turn into 100 per cent debt-free by the tip of the FY24.
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In one other associated improvement, the corporate has introduced to foray into into green-enviro-friendly infra tasks by becoming a member of palms with Nice Apartment Constructions, part of Unity Group.
Shares of Vikas Ecotech have yielded multibagger returns of 118 per cent in two years, ensuing in wealth acquire for shareholders.
