Vikas Ecotech Ltd updates on debt repayment

Vikas Ecotech Ltd has paid back Rs. 70 Million Approx., taking the total amount of bank-debt down to Rs. 650 Million Approx. and the overall bank-debt reduction till date from the peak to Rs. 962 Million.

It is pertinent to add that the Company has set a goal for 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. 100 Million before the close of this quarter, bringing down the debt levels to Rs 550 Million Approx., paving the way towards becoming a 'ZERO Debt Company' within F.Y.2023-24.

Shares of Vikas EcoTech Limited was last trading in BSE at Rs. 3.02 as compared to the previous close of Rs. 3.03. The total number of shares traded during the day was 7274776 in over 3313 trades.

The stock hit an intraday high of Rs. 3.13 and intraday low of 2.96. The net turnover during the day was Rs. 22000500.00.

Source : Equity Bulls

Keywords

VikasEcoTech INE806A01020 DebtRepayment DebtReduction