Vikas Ecotech has paid back Rs 6 crore, taking the total amount of bank-debt reduced in the Phase-II to Rs 36 crore and the overall bank-debt reduction to Rs 58 crore till date. The company had initiated the Second Phase of the Debt Reduction Program, on persistence and support extended by the promoters of the company.
After completion of both these phases, and intended additional bank-debt repayment, bank-debt shall get reduced by around 55% from the peak exposure, paving the way towards becoming a ‘ZERO Debt Company’ in 2023.
Vikas Ecotech is engaged in the business of Speciality Polymers & Specialty Additives and Chemicals for Plastics & Rubbers industries, catering to a wide horizon of applications in Agriculture, Infrastructure, packaging, electrical, footwear, pharmaceuticals, automotive, medical devices and components and other consumer goods.
