Stock Report

Vikas Lifecare adds Almonds and Walnuts to Company's Agro-Products division offerings

Posted On : 2022-06-12 12:58:35( TIMEZONE : IST )

Vikas Lifecare Limited has announced the addition of Premium Almonds and Walnuts to its Agro-Products offing thereby strengthening its presence in fastest growing Premium Quality & Nutrient-Rich Food Supplement, Dry-Fruits market.

The company has received encouraging results in the form of approvals on the aggressive efforts and commercial orders have started flowing in for these newly added products. The commercial supplies of Almonds and Walnuts will begin as soon as July' 2022. The new products are expected to contribute considerably to the sales thus the targets assigned for Agro Products Division have been revised upwards, now eyeing at INR 2000 Million Annual Sales for Agro Business on stand alone basis.

The company had recently added "Cloves" to the product basket aiming at expanding its Agro products portfolio adding newer products and entering the retail segment with consumer size packs of the Premium Cashews, Almonds, Walnuts and many more products to follow.

As a measure of backward integration, the company had also expanded its capacities to process Cashew Nuts and added processing facility for Cloves. The new facilities are designed and are equipped with the provision to roll out materials in retail sized packets (consumer packs) for its Agro products.

With increasing urbanisation and day-to-day busy schedules, people are often unable to consume sufficient amounts of healthy, nutritious meals. This leads to a lack of several essential nutrients in the body. Though with increasing per capita income affordability, acceptance and demand of Premium Quality & Nutrient-Rich Food Supplement, Dry-Fruits is swelling and as a part of its long-term business strategy, the company is trying to tap this opportunity in big way, has detailed blue-print to add new products on regular basis to its Agro-Retail business, which will include a wide variety of Dry Fruits, Herbs, Spices, Juices, Beverages and more followed by venturing into retail sales via online sales and other retail channels and to eventually launch an own brand for its consumer (Agro) Products in very short span.

Shares of Vikas Multicorp Limited was last trading in BSE at Rs. 6.05 as compared to the previous close of Rs. 5.83. The total number of shares traded during the day was 20826042 in over 7822 trades.

The stock hit an intraday high of Rs. 6.09 and intraday low of 5.80. The net turnover during the day was Rs. 125282274.00.