Vikas Ecotech Limited updates on debt repayment

Vikas Ecotech Limited has paid back Rs. 30 Million Approx., taking the total amount of bank-debt reduced to Rs. 843 Million and the overall bank-debt reduction to Rs. 857 Million till date.

It is pertinent to submit that the Company's goal of becoming a 100% debt free entity within FY 2023-2024 under Debt Reduction Program, on persistence and support extended by the promoters of the Company.

Post the current Repayment, the Company intends to payback 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.

Shares of Vikas EcoTech Limited was last trading in BSE at Rs. 2.84 as compared to the previous close of Rs. 2.81. The total number of shares traded during the day was 1733584 in over 1234 trades.

The stock hit an intraday high of Rs. 2.98 and intraday low of 2.77. The net turnover during the day was Rs. 4944591.00.

Source : Equity Bulls

Keywords

VikasEcoTech INE806A01020 LoanRepayment DebtReduction