During today’s closing session, Vikas Lifecare, a small-cap commercial services company, registered a market cap of ₹395.16 Cr. The leading international supplier of premium specialty chemicals is Vikas Lifecare Limited. The company trades and produces polymer, rubber compounds, and additives for plastics, synthetic rubber, and natural rubber. The stock opened today at ₹2.81 apiece and went on to hit a fresh 52-week-low at ₹2.66 during the afternoon deals and then closed at a downside gap of 4.51% at ₹2.75. After Vikas Lifecare Limited’s Agro Products division received new orders for INR 155 Million, its stock experienced a downward trend.
The Agro Products Division has received new orders of INR 155 Million to be carried out in the second quarter of 2023–2024. Before receiving this new order, Vikas Lifecare Limited’s Agro Products Division had generated INR 480 million in sales. The company has set a target of INR 3600 million for the Agro Products Division for the current fiscal year, up from the INR 2000 million achieved in the previous fiscal.
The Agro Products division of Vikas Lifecare Limited is going to expand, and it also plans to pursue export operations. Vikas Lifecare said in a statement today that it is looking out for appropriate opportunities for Backward Integration for the Agro Products considering and evaluating proposals for establishing or acquiring Rice processing facility by 2024-25.
The company has reported a total income of Rs.86.26 crores during the quarter ended March 31, 2023 as compared to Rs.133.37 crores during the quarter ended March 31, 2022, representing a fall of 35.32%. During Q4FY23, Vikas Lifecare stood recorded a net loss of ₹26.88 Cr down by 216.96% YoY from the net profit of ₹22.98 Cr reported during Q4FY22.
Commenting on the technical outlook of Vikas Lifecare A R Ramachandran, Co-founder & Trainer-Tips2trades said “Poor Q4FY23 results has led to a very bad FY23 which has also reflected in the stock price which is making new lows and very oversold on the Daily charts. Till resistance of 3 is not broken on the Daily charts, investors should avoid buying.”
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