Recycling Player Vikas Ecotech Announces Mega Export Oder For its Subsidiary. Image Source: Canva
Recycling player Vikas Ecotech (VEL) has clinched a deal, securing its largest ever export order for subsidiary Vinyl Plasticizers valued at about Rs 16.5 crore, the company said in a regulatory filing on Wednesday. The move comes as VEL solidifies its presence in the global market, leveraging the strengths of its recently acquired subsidiary, Vishal Organic Pvt Ltd (VOPL). With VOPL’s Plasticizers Manufacturing Business based in Daman, the conglomerate has been making significant strides in expanding its international reach, particularly targeting exports of niche materials from both VEL and VOPL product lines.
For nearly two decades, VEL has been a key player in manufacturing Specialty Chemical Additives for Polymer and Vinyl Applications, showcasing its commitment to innovation and sustainability in the industry.
The news of this landmark deal follows closely on the heels of VEL’s acquisition of Shamli Steel for a staggering Rs 160 crore. In a regulatory filing, the company revealed plans to inject an initial working capital of Rs 15 crore into Shamli Steel, with further investments ranging between Rs 35-50 crore over the next 3-6 months to bolster operations at the plant.
This strategic move is anticipated to significantly bolster the company’s revenue, with projected contributions of up to Rs 900 crore. Moreover, it positions VEL to strengthen its foothold in regional markets, amplifying its impact across diverse sectors including electrical, infrastructure, packaging, and automotive.
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