Corporate Development     

Published: December 15, 2024
Updated: December 15, 2024

Vikas Ecotech Ltd

Awarded being one of the Top 75 “Innovative Companies” at CII industrial innovation awards 2024

Vikas Ecotech Ltd. (BSE: 530961, NSE: VIKASECO), a leading player engaged in the business of Specialty Polymers & Specialty Additives and Chemicals for Plastics & Rubbers industries, has announced having been awarded being one of the top 75 “Innovative Companies” at Confederation of Indian Industry (CII) Industrial Innovation Awards 2024.

The company was honoured with the prestigious award at the CII Annual Summit 2024: CII Industrial Innovation Awards 2024 ceremony, held on December 12– 13, 2024, at The Lalit Hotel, New Delhi. This is a significant milestone in its growth journey. The awardee representatives were facilitated by notable dignitaries from various sectors, recognizing the company’s significant contributions to innovation and industry leadership.

This prestigious award affirms Vikas Ecotech Limited’s exceptional performance, unwavering commitment to innovation, and significant achievements in fostering growth and advancing research and development. Specifically, it recognizes and highlights the company’s pioneering work in the field of Intelligent Coatings based on Nanocomposites, waste management, and Elctro Magnetic Induced (EMI) Shielding.

The recognition and award reinforces the company’s position as a frontrunner in delivering cutting edge solutions for global markets but also inspires continued innovation, ensuring sustained growth through enhanced business opportunities and investments.

The Confederation of Indian Industry (CII) is a premier industry association in India, dedicated to fostering economic development and driving industrial growth through policy advocacy, business promotion, and the facilitation of global partnerships. Established in 1895, CII operates as a nongovernmental, non-profit organization with a membership base comprising over 9,000 direct members and an indirect network of more than 300,000 companies. The organization actively engages in creating and sustaining a conducive environment for India’s economic progress by collaborating with government entities, thought leaders, and other stakeholders across diverse sectors.

Recently the company announced remarkable updates highlighting the continued growth and success of its Specialty Chemicals & Compounds division. Demonstrating its strong market presence and commitment to excellence, the division has significantly expanded its footprint by adding several prominent clients to its esteemed customer portfolio during the current financial year. These include industry leaders such as Narmada Polymer (Abros Shoes), M.P. Birla Group’s Vindhya Telelinks Ltd., Lapp India Pvt. Ltd., Calibre Speciality Elastomer India Pvt. Ltd., and many more.

This strategic expansion reflects Vikas Ecotech Limited’s ability to address diverse industry needs by delivering innovative, high-quality specialty compounds. Further bolstering this momentum, the Specialty Compounds division is on track to achieve a business of INR 500 million by the end of Q4 FY 2024-25.

Vikas Ecotech Ltd. is a New Delhi based company engaged in the business of Specialty Polymers & Specialty Additives and Chemicals for Plastics & Rubbers industries, catering to a wide horizon of applications in Agriculture, Infrastructure, packaging, electrical, footwear, pharmaceuticals, automotive, medical devices and components and other consumer goods. Vikas Ecotech is the only manufacturer of Organotin (Heat Stabilizers for Vinyl applications) in India with in-house R&D facilities and is one of the single digit number of manufacturers of this product worldwide, who have technology and expertise for manufacturing this material right from Tin Metal to the final product. The Company acquired 100% Equity of a Plasticizer Manufacturing Business valued at Enterprise Value of ~Rs 270 million in an all-cash deal. Vikas Ecotech ventured into the Infrastructure Development related products during FY 2021~22 with supplying Infrastructural Steel to renowned Civil & Public Construction Companies in the Northern Indian Region. Vikas Ecotech signed the agreement to acquire 100% Equity of M/s Shamli Steel Private Limited, a company engaged in manufacturing Infrastructural Steel (Bars & Raw Material) at an Enterprise Value of INR 1600 million Approx.