Vikas Ecotech to add new Solar Energy Systems at its Shahjahanpur manufacturing facilities

Vikas Ecotech Limited has announced the enhanced investment in Green Renewable Energy Systems to support the electricity requirement of it's manufacturing facilities located at Rajasthan, India. The company will add solar power generating system of 172kwp capacity, which will cost about INR 10.5 Million which in turn will decrease the electricity bills by about INR 2.1 Million per annum thus aiding better cost efficiency for the manufacturing plant. This system will be fully established and operational starting a direct contribution to the business economics by April'2022.

Vikas Ecotech Limited Rajasthan plants already have a time-tested Solar Power Generating System of 290kwp capacity of electric power supporting the Rajasthan facilities. The new addition will take the total annual savings to INR 5 Million. Wiz about 33% of the average electricity costs. The company aims to enhance its reliance on Renewable Energy Systems targeting a electrically selfsufficient manufacturing unit by the year 2025.

The recent reductions in the bank debt and the reduced load of the interest thereon, clubbed with the savings offered by the Renewable Energy Systems will offer a definite and considerableeconomies and provide an edge to the company businesses as soon as the forthcoming F.Y. 2022-23.

Shares of Vikas EcoTech Limited was last trading in BSE at Rs. 5.12 as compared to the previous close of Rs. 5.07. The total number of shares traded during the day was 1109771 in over 2283 trades.

The stock hit an intraday high of Rs. 5.29 and intraday low of 4.94. The net turnover during the day was Rs. 5717911.00.

Source : Equity Bulls

Keywords

VikasEcoTech INE806A01020 Investment SolarPowerSystems Rajasthan Shahjahanpur