Vikas Ecotech has re-paid another Rs 5 crore to the bankers as part of its pre-defined debt reduction program wherein its targeted to make the business debt free by March 31, 2024. The Company had set a goal to be a debt-free business by March 31, 2024 and in due compliance with the targeted amount in Phase-1 of the Debt Reduction Program which was initiated on August-September 2021 the Company has re-paid Rs 105.20 crore to the bankers since then; thus reducing the total bank debt from the peak of around Rs 161.20 crore to about Rs 55 crore currently, making a 66% Reduction from the Peak Level within 24 Months of initiating the process.
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.
