Eiko LifeSciences Ltd forms subsidiary

Eiko LifeSciences Limited (BSE: 540204) has announced its strategic diversification into the comprehensive shipping, logistics, and container management solutions across multiple industries, including but not limited to hazardous and nonhazardous chemicals, aimed at enhancing backward and forward integration and mitigating inherent business risks.

The company plans to:

1. Diversify into leasing, renting, and managing shipping containers for logistics, storage, and transportation of goods.

2. Source containers domestically and internationally.

3. Offer leasing services to entities involved in goods transport.

4. Provide maintenance and management services for efficient container operations and other logistics services.

This strategic expansion will enable Eiko LifeSciences Limited to:

- Enhance its supply chain efficiency
- Diversify revenue streams
- Leverage growth opportunities in the logistics sector

EikoVivify Logistics Private Limited (EVL), a strategic subsidiary of Eiko Lifesciences Limited, has been established with a joint investment structure. Eiko Lifesciences Limited holds a 51% stake, while M/s Vivify Wealth Management LLP holds the remaining 49%.

The joint venture partners have committed to investing ₹100 crores over a three-year period. This investment will be utilized to drive growth and expansion.

As part of its growth strategy, EVL is actively pursuing the discussion with operational joint venture partners to enhance its service offerings. The company anticipates generating revenue from this venture starting from the last quarter of FY 2024-25.

Shares of Eiko LifeSciences Ltd was last trading in BSE at Rs. 65.40 as compared to the previous close of Rs. 68.55. The total number of shares traded during the day was 26367 in over 144 trades.

The stock hit an intraday high of Rs. 71.00 and intraday low of 65.13. The net turnover during the day was Rs. 1750507.00.

Source : Equity Bulls

Keywords

EikoLifeSciences INE666Q01016 Diversification EikoVivifyLogistics