Vikas Ecotech Ltd

VIKASECO

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Market Cap

₹ 288 Cr

P/E

40.75

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Investment Checklist

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Performance

UNDER PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bearish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Vikas Ecotech Limited specializes in manufacturing specialty chemicals, particularly additives and polymer compounds, catering to industries like plastics, rubber, and footwear.

The company has progressively evolved its business strategy from trading petroleum products to manufacturing high-end specialty chemical products and compounds.

Vikas Ecotech has established multiple manufacturing units, notably in Rajasthan, leveraging locational advantages and incentives for strategic growth.

They have diversified into the energy sector recently, gaining vendor approval from UP State Horticulture Co-operative Marketing Federation.

Rapid connectivity to transport networks is part of their strategic infrastructure planning, aiding in swift distribution and market expansion.

Sector

Diversified

Industry

Diversified - Medium / Small

Market Cap

288 Cr

Volatility

Moderate Risk

P/E Ratio

40.8

Industry P/E

34.4

PEG Ratio

0.3

P/B Ratio

0.7

52W High

3.47

52W Low

1.46

Sales CAGR

46.03%

4.51%

8.26%

10Y

-0.80%

Profit CAGR

147.88%

117.27%

69.59%

10Y

-6.25%

ROE

TTM

1.98%

3.03%

1.28%

10Y

5.57%

ROCE

TTM

3.20%

5.99%

6.31%

10Y

14.71%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
LEHAR	232.55	411 Cr	18.88	4.18	0.22	17.29	19.57	8.47
MAJESAUTO	332.00	345 Cr	34.02	0.49	3.01	1.44	4.96	9.34
ASHIMASYN	17.62	338 Cr	—	1.17	0.00	-3.64	-0.68	-3.32
SAAKSHI	176.55	312 Cr	66.12	3.18	0.00	7.54	8.63	5.34
VIKASECO	1.61	288 Cr	40.75	0.66	0.00	1.98	3.20	1.62
TRISHAKT	148.75	245 Cr	64.67	3.84	0.02	10.46	4.68	2.53
ASPINWALL	230.01	180 Cr	97.88	0.96	2.83	0.99	2.91	2.10

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	58	61	68	72	101	89	85	103	104	65
Expenses	54	55	65	69	99	84	83	99	99	62
Operating Profit	4.08	5.50	3.73	2.65	2.13	4.80	1.37	3.64	4.69	2.67
OPM %	7.07	9.05	5.45	3.69	2.11	5.38	1.62	3.55	4.53	4.13
Other Income	1.20	-0.25	0.30	2.59	14	1.00	1.49	2.78	1.04	2.10
Interest	2.32	1.99	1.45	0.82	0.90	0.88	1.09	1.28	1.18	1.14
Depreciation	0.87	0.90	0.93	1.08	1.06	0.98	1.39	1.89	1.23	1.36
Profit Before Tax	2.08	2.35	1.64	3.34	14	3.95	0.38	3.25	3.32	2.27
Tax %	25.48	25.11	25.00	31.44	25.54	27.59	247.37	-32.31	28.61	22.91
Net Profit	1.55	1.77	1.23	2.30	10	2.85	-0.55	4.30	2.37	1.75
EPS in Rs	0.01	0.01	0.01	0.02	0.07	0.01	0.00	0.03	0.02	0.01

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	124	165	260	258	403	259	378	380
Expenses	109	153	242	237	381	243	366	366
Operating Profit	16	12	18	21	22	16	12	15
OPM %	12.59	7.26	7.02	8.17	5.37	6.17	3.16	3.81
Other Income	2.10	5.83	2.04	2.85	3.18	3.83	19	6.31
Interest	3.50	5.41	6.44	9.15	10	6.58	4.15	4.43
Depreciation	1.21	1.95	1.97	2.17	3.96	3.78	5.32	5.49
Profit Before Tax	8.52	10	4.13	4.80	10	9.42	22	11
Tax %	2.60	1.44	6.33	22.49	9.18	27.34	21.11	17.71
Net Profit	8.29	10	3.86	3.72	9.53	6.85	17	8.97
EPS in Rs	8.29	8.93	3.64	0.56	—	0.04	0.11	0.06
Dividend Payout %	12.41	5.62	13.77	13.89	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2023	Mar 2024	Mar 2025
Equity Capital	10	10	10	10	95	139	139
Reserves	16	24	28	32	143	238	254
Borrowings	33	36	52	65	62	19	28
Other Liabilities	26	27	45	47	43	48	90
Total Liabilities	85	98	135	154	343	444	512
Fixed Assets	14	20	20	23	21	47	48
CWIP	0.00	0.00	0.00	0.00	0.00	0.30	0.00
Investments	0.06	0.01	0.00	0.03	62	235	147
Other Assets	71	78	115	131	259	161	316
Total Assets	85	98	135	154	343	444	512

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-8.84	12	-8.04	1.42	92	120	-60
Cash from Investing Activity	-8.88	-8.52	-1.49	-4.80	-58	-202	46
Cash from Financing Activity	18	-2.58	9.07	3.35	-41	83	15
Net Cash Flow	-0.02	0.69	-0.45	-0.03	-7.35	0.24	0.64

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	May 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	9.33%	7.85%	6.87%	6.87%	13.58%	10.66%	10.66%	10.66%	10.65%	10.65%	10.65%	10.65%
FIIs	0.03%	15.18%	9.42%	0.01%	0.01%	0.01%	0.00%	0.00%	0.02%	0.02%	0.05%	0.05%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	90.64%	76.97%	83.71%	93.12%	86.42%	89.34%	89.34%	89.34%	89.33%	89.33%	89.30%	89.30%
Total Shareholders	2,65,412	2,75,769	3,44,479	3,83,102	5,01,025	5,01,059	5,35,602	5,54,511	5,79,874	5,96,124	5,92,947	5,92,947

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Jun 22, 2024	Mr. vikas garg	Insider - Promoter	Acquisition	3.40	34.00 Cr	10,00,00,000	7.75
Jun 04, 2024	Vishwas fincap services priva...	Bulk	Buy	3.59	2.62 Cr	72,87,200	0.41
Jun 04, 2024	Vishwas fincap services priva...	Bulk	Sell	3.61	3.10 Cr	85,87,200	0.48
Jun 03, 2024	Vishwas fincap services priva...	Bulk	Buy	3.75	2.16 Cr	57,49,137	0.32
Jun 03, 2024	Vishwas fincap services priva...	Bulk	Sell	3.68	2.90 Cr	78,72,108	0.44
Apr 10, 2024	Vishwas fincap services priva...	Bulk	Buy	4.03	2.82 Cr	69,94,789	0.39
Apr 10, 2024	Vishwas fincap services priva...	Bulk	Sell	4.03	3.02 Cr	74,98,510	0.42
Apr 03, 2024	Vishwas fincap services priva...	Bulk	Buy	4.35	3.94 Cr	90,58,946	0.51
Apr 03, 2024	Vishwas fincap services priva...	Bulk	Sell	4.37	3.97 Cr	90,73,946	0.51
Apr 02, 2024	Vishwas fincap services priva...	Bulk	Buy	4.23	3.60 Cr	85,05,090	0.48

Projection

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Oscillators

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Bullish

Overall

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Moving Averages

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Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
LEHAR	232.55	411 Cr	18.88	4.18	0.22	17.29	19.57	8.47
MAJESAUTO	332.00	345 Cr	34.02	0.49	3.01	1.44	4.96	9.34
ASHIMASYN	17.62	338 Cr	—	1.17	0.00	-3.64	-0.68	-3.32
SAAKSHI	176.55	312 Cr	66.12	3.18	0.00	7.54	8.63	5.34
VIKASECO	1.61	288 Cr	40.75	0.66	0.00	1.98	3.20	1.62
TRISHAKT	148.75	245 Cr	64.67	3.84	0.02	10.46	4.68	2.53
ASPINWALL	230.01	180 Cr	97.88	0.96	2.83	0.99	2.91	2.10

Overview

Detailed Summary

Vikas Ecotech Limited specializes in manufacturing specialty chemicals, particularly additives and polymer compounds, catering to industries like plastics, rubber, and footwear.

The company has progressively evolved its business strategy from trading petroleum products to manufacturing high-end specialty chemical products and compounds.

Vikas Ecotech has established multiple manufacturing units, notably in Rajasthan, leveraging locational advantages and incentives for strategic growth.

They have diversified into the energy sector recently, gaining vendor approval from UP State Horticulture Co-operative Marketing Federation.

Rapid connectivity to transport networks is part of their strategic infrastructure planning, aiding in swift distribution and market expansion.

Sector

Diversified

Industry

Diversified - Medium / Small

Market Cap

288 Cr

Volatility

Moderate Risk

P/E Ratio

40.8

Industry P/E

34.4

PEG Ratio

0.3

P/B Ratio

0.7

52W High

3.47

52W Low

1.46

Sales CAGR

46.03%

4.51%

8.26%

10Y

-0.80%

Profit CAGR

147.88%

117.27%

69.59%

10Y

-6.25%

ROE

TTM

1.98%

3.03%

1.28%

10Y

5.57%

ROCE

TTM

3.20%

5.99%

6.31%

10Y

14.71%