Recycling company Vikas Ecotech has set its sights on becoming debt-free by the end of the fiscal year 2023-2024. The company has already paid back Rs 98.2 crore to its lenders, leaving an outstanding amount of Rs 71.8 crore. Vikas Ecotech stated that Rs 17 crore of this will be paid off in the present quarter, due to end on June 30, 2023. The company has been gradually reducing its bank debt, with a view to total debt-free status by the end of the 2023-2024 financial year. In addition, the Delhi-based company has also recently been awarded specialty compounds valued at Rs 9 crore, making Rs 19.7 crore in sales during the first quarter of the current fiscal year. Vikas Ecotech is further expanding its business range to include the manufacture of steel and medium-density polyethene pipes.
Recycling Firm Vikas Ecotech Aims to Eliminate Debts by FY24
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