Vikas Ecotech aims to be debt-free in FY24

Vikas Ecotech, a leading supplier of premium specialty chemicals, has informed exchanges that it has paid back Rs 30 million, taking the total amount of bank-debt reduced to Rs 843 million and the overall bank-debt reduction to Rs 857 million till date, the company said in an exchange filing.

Vikas Ecotech said that the company aims to become a 100 per cent debt-free entity within FY 2023-2024 under debt reduction programme. It thanked the promoters for their support. 

It may please further be noted that post the current repayment, the company intends to pay back an additional Rs 295 Million before the close of this quarter, bringing down the debt levels to Rs 548 million at the end of FY 2022-23, paving the way towards becoming a ‘ZERO Debt Company’ in 2024.

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Vikas Ecotech is a small-cap company that operates in the specialty chemical industry. It is a leading supplier of premium specialty chemicals to clients worldwide. It supplies chemicals to several industry players including in agriculture, automobiles, cables, electricals, hygiene, healthcare, polymers and more.

The New Delhi headquartered company's R&D division is a DSIR-recognized facility under the Ministry of Science and Technology. It is engaged in several cutting-edge scientific research projects.

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