Vikas Lifecare announces capacity expansion - Check details

The company said that it has acquired a new land piece measuring about 1800 Sq. Mtr. for Rs 3 crore.

The new expansion will be ready to be utilized within the next 3 to 4 months.

Vikas Lifecare, a del-credere agent of ONGC (Oil and Natural Gas Corporation Ltd.) Petro Additions Limited, has announced capacity expansion. The company shared the details through an exchange filing on Wednesday.

The company said that it has acquired a new land piece measuring about 1800 Sq. Mtr. for Rs 3 crore. The land is adjoining to the existing factories located at RIICO Industrial Area, Shahjahanpur, Rajasthan.

"The total cost of acquisition and development of the land and the building thereon will be about INR 30 Million, whereas the equipment for the expansion of production capacity will cost another INR 230 Million," the company said in an exchange filing.

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As per the information shared, the new expansion will be ready to be utilized within the next 3 to 4 months. The company is expecting that it will add an additional Rs 60 crore to the gross revenues from the compounding business segment.

"VLL is working in all directions to tap into the vertical as well as horizontal growth options via expanding conventional businesses and venturing into new business segments to fuel the fast-growth plans through various routes including merger and acquisition of going businesses from diverse fields," the company said.

VLL’s subsidiary M/s Genesis Gas Solutions Pvt. Ltd. is engaged in the business of smart gas meters being supplied to all the major gas distribution companies for domestic and commercial consumers.

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