The share of the polymer manufacturing company jumped 1 percent on BSE after receiving an order from Gujarat Gas Limited for the supply of gas meters worth Rs. 46.5 crores. In six months, the shares have delivered more than 60 percent of returns to its shareholders.
With a market capitalization of Rs. 728 crores, the shares of Vikas Lifecare Ltd opened Thursday’s trading session flat at Rs. 5.05. The share hit an intraday high at Rs. 5.10 making a gain of around 1 percent and closed its day at Rs. 5.04 apiece.
Such a positive movement was observed after the company in an exchange filing mentioned that it received an order for the supply of 40,000 gas meters from Gujarat Gas Limited to Genesis Gas Solutions (Material subsidiary of Vikas Lifecare Limited) worth Rs. 46.5 crores. The order is to be executed by the end of FY 2023-24.
Looking into the financials, the company’s revenue increased by 13 percent from Rs. 98.89 crores during the June quarter to Rs. 116.03 crores in the September quarter. On a contrasting note, the net profit declined by 39 percent from Rs. 12.05 crores to Rs. 7.32 crores during the same period.
According to the latest shareholding pattern, the Public has a huge holding of 88.60 percent and the remaining 11.40 percent are with the promoters.
Headquartered in New Delhi, Vikas Lifecare Ltd was incorporated in the year 1995. The company is conventionally engaged in various business segments i.e. Polymer and Rubber Commodity (bulk consumption) Compounds and Master Batches, and post-consumer waste materials.
Written By Vaibhav Patil
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.