Vikas Ecotech announces new plant to start this fiscal

Vikas Ecotech has announced that the company recently has signed MoU with Aurapha Private Limited to invest in environment friendly Bioplastics technology and in advance stage of finalising a Technology Tie-Up/Joint Venture to produce Biodegradable Plastics.

"Vikas Ecotech is increasing its focus on specialty chemicals, which have wide utility across all the sectors including Agriculture, Food Packaging, Automotives, Footwear, Plastics, Infra and Pharmaceuticals. Vikas Ecotech has  recently ventured into trading and manufacturing of infra products, which not only enhances its revenues, product basket, profitability but also mitigating concentration risk," a company statement said.

The company said it has successfully applied for registration of patent title Smart Intelligent Coatings using nano Calcium Carbonate blended in conjugated polymer matrix for corrosion protection and a process for the preparation thereof.

"The company has been most recently empaneled as an approved vendor with the UP State's Horticultural Co-Operative Marketing Federation (HOFED), a Uttar Pradesh Government body," the statement added.

Furthermore, the civil work at this facility, which began in August 2021, is completed and the company is giving orders for Gas pipe manufacturing machinery. 

For the financial year 2021-22, the company reported a total income from sales at Rs 250.42 crore.