By: ICN Bureau
Last updated : January 04, 2024 8:19 pm
The expansion is expected to add an additional Rs 60 crore to the gross revenues from the compounding business segment
Vikas Lifecare Limited (VLL) has acquired a new land piece measuring about 1800 Sq. mtr 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 there on will be about Rs. 3 crore, whereas the equipment for the expansion of production capacity will cost another Rs. 23 crore,” the company said in an exchange filing.
The company said that the expansion will be ready to be utilized within the next 3 to 4 months. The expansion is expected to 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.
Vikas Lifecare is engaged in manufacturing and trading of polymer and rubber compounds and specialty additives for plastics, synthetic and natural rubber. The company has most recently diversified its business interests beyond raw materials and forayed into the B2C segment.