Vikas EcoTech Ltd has been assigned 'BWR BBB' stable outlook rating for servicing of long term fund based credit facilities and 'BWR A3+' rating for servicing of short term non-fund based credit facilities from Brickwork Ratings India Private Limited implying moderate degree of safety regarding timely servicing of its financial obligations.
The Company had earlier been assigned with 'BWR BBB+' positive outlook rating for servicing of long term fund based and 'BWR A2' rating for servicing of short term fund and non-fund based credit facilities from Brickwork Ratings. The downgrade revision of the ratings is on account of full utilization of limits, elongated conversion cycle due to stretched receivables, inventory holding period and decline in profit margins in FY19 and Q1FY20.
Shares of Vikas EcoTech Ltd was last trading in BSE at Rs.3.16 as compared to the previous close of Rs. 3.17. The total number of shares traded during the day was 132683 in over 137 trades.
The stock hit an intraday high of Rs. 3.3 and intraday low of 2.95. The net turnover during the day was Rs. 410989.