Vikas Lifecare - Agro Product Business Segment - Latest Updates

Vikas Lifecare Limited has shared recent developments, latest updates from its' Agro Products Business Segment wherein things are happening at encouraging pace and management is confident of surpassing the targeted figures.

While the Premium Rice business has been registering impressive numbers for the company in terms of sales and consistent growth of the Agro Products Division, the company has received its first Bulk-Load Export Order of 1500MT of Premium Rice, Valued at about INR 85 Million to be executed in the current month itself.

Further, for company's recently acquired cashew processing unit at Mangalore (Karnataka) having already started contributing in its full capacity since its commissioning and catering aggressively to the fast-growing order book in Premium Cashews Nuts Business, the management of the Company, considering the rising demand and a stable, consistent growth forecast for sales of Premium Cashew Nuts with increasing per-capita income and changing consumer preference towards premium products, has decided to double the installed cashew processing capacity.

The machinery and ancillaries required for enhancing the processing capacity have been planned, ordered and are expected to be commissioned and become completely operational by the end of March' 2022 and as such this increased capacity will start generating revenue in the first quarter of next financial year.

Shares of Vikas Lifecare Limited was last trading in BSE at Rs. 5.48 as compared to the previous close of Rs. 5.76. The total number of shares traded during the day was 1722630 in over 2933 trades.

The stock hit an intraday high of Rs. 5.65 and intraday low of 5.48. The net turnover during the day was Rs. 9444640.00.

Source : Equity Bulls

Keywords

VikasLifecare INE161L01027 BusinessUpdate AgroProducts PremiumRice