Vikas Ecotech has further repaid bank debts by Rs 7.30 crore, taking the total amount of bank-debt reduced to Rs 71.80 crore and the overall bank-debt reduction to around Rs 98.20 crore from the peak level of about Rs 170.00 crore, till date. In addition to this current repayment of Rs 7.30 crore, the Company intends to payback additional Rs 17.00 crore with the current quarter ending on June 30, 2023, bringing down the debt levels to around Rs 54.80 crore paving the way towards becoming a ‘ZERO Debt Company’.
Management of the Company while undertaking this Debt Reduction Program, on persistence and support extended by the promoters and other stakeholders of the Company, decided to become 100% debt free entity within FY 2023-2024 and since then continuously reducing its bank-debt in gradual manner.
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.
