Recycling Major Vikas Lifecare Bags Mega Order, Share Price to Remain in Focus. Image Source: Canva
Recycling leader Vikas Lifecare Ltd recently announced a substantial achievement in its Agro Products Division, disclosing an order worth millions. The division has clinched a deal worth approximately Rs 500 million, in the premium and organic rice sectors. Among the current orders, Rs 400 million are designated for premium rice varieties, while the remaining Rs 100 million represent orders for Organic Breeds of Rice.
Setting ambitious targets for the current fiscal year, the Agro Products Division aims for a revenue of Rs 4500 million, a significant leap from the Rs 3600 million achieved in the previous fiscal year, translating to a remarkable 20+% growth on a year-on-year basis. The acquisition of Agro Products processing facilities in Karnataka & Uttar Pradesh has played a pivotal role in augmenting the company’s capacities and capabilities, facilitating an expanded market reach.
In a strategic move, the company is charting its course towards international expansion with plans to establish a subsidiary company in the UAE. The proposed entity, named Vikash Life Care Investment Management, is poised to engage in commercial investments. With approval from the Government of Dubai received for the incorporation of the subsidiary, Vikas Lifecare is poised to embark on a new chapter of growth and diversification.
Headquartered in Delhi, Vikas Lifecare specializes in recycling plastic waste to manufacture pallets and interlocking tiles for various industrial applications, including construction. Earlier this year, the company made headlines with its acquisition of a 60 per cent stake in Dubai-based SKY 2.0 Club for USD 79 million (around Rs 650 crore). SKY 2.0 Club stands as the largest nightclub in the Middle East and Asia, underscoring Vikas Lifecare’s strategic expansion initiatives.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Today Technology Market ResearchDigital suggests its readers/audience to consult their financial advisors before making any money related decisions.)
