Vikas Lifecare was locked in an upper circuit of 5% at Rs 5.16 after the company bagged an order for its recently initiated agro product segment worth Rs 20 crore from an Indian rice brand firm.
The company has been acquiring land to compliment and strengthen the foundation for the agro products business segment. Vikas Lifecare has established a fully operational cashew nuts processing facility.
This acquisition of land will help towards the establishment of a backward integrated business and the focus and investments in Research & Development with a team. The agro products division aims to create a synergetic and integrated framework for a self-sufficient and most profitable investment for the company.
Vikas Lifecare's net profit rose 725.81% to Rs 2.56 crore in the quarter ended September 2021 as against Rs 0.31 crore during the previous quarter ended September 2020. Net sales rose 111.83% to Rs 67.49 crore in the quarter ended September 2021 as against Rs 31.86 crore during the previous quarter ended September 2020.
Vikas Lifecare engages in the trading of various chemicals compounds, polymers, PVC resins, plastic granules, and products related to plastic industry in India. It operates through real estate, trading-polymers, trading-cashew nuts and manufacturing divisions.
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