Vikas Ecotech Limited (VIKASECO)

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Vikas Ecotech Limited (VIKASECO) · mywealthgrid

About

Vikas Ecotech Limited manufactures specialty chemicals for India's chemicals & petrochemicals industry. With a market capitalization of ₹192.79 Cr and quarterly revenues ranging from ₹45–116 Cr, it operates at a mid-tier scale within the Materials sector. The company's profitability has been volatile, with operating margins swinging from 4.13% in Sep 2025 to −1.77% in Mar 2026.

Face value: ₹1

Market cap

₹179 Cr

P/E

64.5×

P/B

0.5×

Dividend yield

ROE

0.4%

ROCE

2.5%

Debt / equity

0.07

OPM

2.4%

EPS (TTM)

₹0.0

Book value

₹2.2

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Profitability has collapsed in recent quarters: Mar 2026 net loss of ₹1.1 Cr and OPM of −1.77%, reversing the ₹4.3 Cr profit and 3.55% OPM achieved in Mar 2025.
Extremely poor capital efficiency: 0.42% ROE indicates shareholder capital generates minimal returns; verify whether structural or cyclical.
Thin operating margins (2.36% average) leave minimal buffer for cost inflation or revenue declines; even strong periods (Sep 2025) reached only 4.13% OPM.
Share price declined 49.77% over the past year amid earnings deterioration; verify whether company-specific issues or sector-wide weakness.

Generated analysis · source review pending

Growth drivers

Specialty chemicals serve auto, pharma, textiles, and coatings sectors; verify which end-markets the company addresses and their growth trajectory.
Operating margins oscillated from 4.13% (Sep 2025) to −1.77% (Mar 2026); recovery toward mid-range levels would lift profitability—verify root cause of recent compression and timing of normalisation.
Low leverage (D/E 0.07) provides capacity to fund capex or acquisitions if management identifies high-return projects—verify capital allocation strategy and expected returns.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹1.0-1%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0.1)

Cons

−Low return on equity of 2.4% (3-yr avg)
−Thin operating margin of 2.4%
−Profit declined 44% a year over the last 3 years
−Revenue shrank over the last 3 years (-4.3% a year)
−Expensive at 64.5× trailing earnings
−Low promoter holding of 10.7%

Research score

Structured signal from quality, growth, valuation and momentum.

22/100

Business quality: 21
Growth: 18

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Gujarat Fluorochemicals LimitedFLUOROCHEMFLUOROCHEM	₹47,713 Cr	₹49,912 Cr	₹5,303 Cr	₹1,375 Cr	25.8%	₹615 Cr	11.5%	11.1%	7.6%	401
Navin Fluorine International LimitedNAVINFLUORNAVINFLUOR	₹41,740 Cr	₹42,967 Cr	₹3,634 Cr	₹1,232 Cr	32.6%	₹790 Cr	20%	21.6%	20.1%	61
Aether Industries LimitedAETHERAETHER	₹22,161 Cr	₹22,603 Cr	₹1,224 Cr	₹384 Cr	31.3%	₹235 Cr	19.8%	13.2%	9.4%	330
Atul LimitedATULATUL	₹17,231 Cr	₹17,411 Cr	₹6,643 Cr	₹1,189 Cr	16.4%	₹704 Cr	11%	14.1%	11.5%	70
Aarti Industries LimitedAARTIINDAARTIIND	₹16,869 Cr	₹21,790 Cr	₹9,012 Cr	₹1,337 Cr	14.1%	₹531 Cr	5.1%	8.8%	7.3%	54
Fine Organic Industries LimitedFINEORGFINEORG	₹15,752 Cr	₹15,797 Cr	₹2,472 Cr	₹535 Cr	20.4%	₹438 Cr	17.6%	21.6%	16.8%	113
Basf India LimitedBASFBASF	₹14,796 Cr	₹14,796 Cr	₹16,177 Cr	₹952 Cr	4.4%	₹643 Cr	2.8%	14%	11.1%	40
Privi Speciality Chemicals LimitedPRIVISCLPRIVISCL	₹13,970 Cr	₹14,980 Cr	₹2,671 Cr	₹666 Cr	25.2%	₹342 Cr	12.4%	27.7%	25.2%	158
Sudeep Pharma LimitedSUDEEPPHRMSUDEEPPHRM	₹13,546 Cr	₹13,694 Cr	₹676 Cr	₹233 Cr	34.6%	₹133 Cr	27.1%	31.1%	25.2%	366
Anupam Rasayan India LimitedANURASANURAS	₹13,243 Cr	₹15,058 Cr	₹2,535 Cr	₹563 Cr	22.2%	₹175 Cr	9.4%	9.1%	5.5%	377
Vinati Organics LimitedVINATIORGAVINATIORGA	₹12,528 Cr	₹12,528 Cr	₹2,381 Cr	₹665 Cr	29.4%	₹448 Cr	19.9%	18.8%	14.9%	152
Elantas Beck India LimitedELANTASELANTAS	₹10,644 Cr	₹10,644 Cr	₹778 Cr	₹147 Cr	20.3%	₹136 Cr	17.4%	20.6%	15.8%	70

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	403	259	378	353
COGS	364	225	343	323
Gross profit	39	34	34	31
	—	18	22	22
	—	16	12	8
OPM %	—	6.2%	3.2%	2.4%
Depreciation	4	4	5	5
Interest	10	7	4	5
	3	4	19	7
Profit before tax	—	9	21	5
Tax	1	3	4	2
Tax %	—	27.4%	19.7%	34.2%
	10	7	17	3
PAT margin %	2.4%	2.7%	4.5%	0.9%
EPS (₹)	0.1	0.1	0.1	0
EPS adjusted (₹)	0.1	0.1	0.1	0
Annual report	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	95	139	139	139
Reserves	143	238	254	256
Minority interest	—	—	—	22
	62	19	28	29
	43	48	92	66
Total equity & liabilities	343	444	513	513
	35	47	48	46
CWIP	0	0	—	—
Investments	55	235	147	66
	253	161	317	400
Total assets	343	444	513	513

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	92	120	-60	-113
	-58	-203	46	96
	-41	83	15	17
Net cash flow	-7	-0	1	-0
Free cash flow	87	115	-60	-117
CFO / Operating profit %	—	752.9%	-505%	—

Compounded sales growth

7 years: —
5 years: —
3 years: -4%
1 year: -7%

Compounded profit growth

7 years: —
5 years: —
3 years: -31%
1 year: -82%

Return on equity

7 years: —
5 years: —
3 years: 2%
Last year: 1%

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities
Chemical, Polymers & Special Additives	236.22	29.02	0	0
Infra & Energy	116.96	1.67	0	0

SegmentFigure

Chemical, Polymers & Special Additives · revenue

₹ crore by fiscal year

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	9.6%	13%	9.1%	8.7%
EBITDA margin %	—	6.2%	3.2%	2.4%
EBIT margin %	—	4.7%	1.8%	0.9%
PAT margin %	2.4%	2.7%	4.5%	0.9%
Working capital
Receivable days	133	108	111	131
Inventory days	35	71	42	47
Payable days	27	59	66	59
NWC days	141	121	87	118
Leverage
Current ratio	2.19	2.09	2.27	3.77
Debt to EBITDA	—	1.21	2.32	3.53
Debt to equity	0.26	0.05	0.07	0.07
Interest coverage	-0.1	2.4	3.1	2.2
Asset turnover	1.18	0.58	0.74	0.69
Return ratios
Return on assets %	2.8%	1.5%	3.3%	0.6%
Return on capital employed %	-0.3%	5.2%	3.3%	2.5%
Return on equity %	4%	1.8%	4.3%	0.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	7.85%	6.87%	6.87%	13.58%	10.66%	10.66%	10.65%	10.65%	10.65%	10.65%	10.65%	10.65%
	15.18%	9.42%	0.01%	0.01%	0%	0%	0.02%	0.02%	0.05%	0.05%	0%	0%
DII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	76.97%	83.71%	93.12%	86.41%	89.34%	89.34%	89.33%	89.33%	89.3%	89.3%	89.35%	89.35%
No. of shareholders	—	—	—	—	—	—	—	—	—	5,92,947	5,75,495	5,67,693

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Vikas Ecotech Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

12 announcementsExport CSV

17 Sept 2026, 12:12 pmOthers

Intimation Of Approval For Extension Of Time For Holding Annual General Meeting (AGM) For The Financial Year Ended March 31, 2026

Exchange filing PDF

8 Sept 2026, 7:10 pmCompany Update

Vikas EcoTech Ltd - 530961 - Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 Ref: Intimation Regarding Application For Extension Of AGM

General PDF

26 Aug 2026, 9:00 pmResult

Result Of Board Meeting Held On August 26, 2026

Financial Results PDF

26 Aug 2026, 8:48 pmBoard Meeting

Board Meeting Outcome for Outcome Of Board Meeting Held On August 26, 2026

Outcome of Board Meeting PDF

21 Aug 2026, 5:50 pmBoard Meeting

Board Meeting Intimation for Intimation Of Board Meeting To Be Held On August 26, 2026

Exchange filing PDF

19 Aug 2026, 4:32 pmCompany Update

Appointment Of Auditor

General PDF

17 Aug 2026, 6:34 pmCompany Update

Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s

Appointment of Statutory Auditor/s PDF

17 Aug 2026, 6:32 pmOthers

Board Meeting Outcome for Outcome Of Board Meeting Held On Monday, August 17, 2026

Outcome without intimation PDF

Date	Category	Subject	Filing
17 Sept 2026, 12:12 pm	Others	Intimation Of Approval For Extension Of Time For Holding Annual General Meeting (AGM) For The Financial Year Ended March 31, 2026	PDF
8 Sept 2026, 7:10 pm	Company Update General	Vikas EcoTech Ltd - 530961 - Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 Ref: Intimation Regarding Application For Extension Of AGM

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Ratio	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	9.6%	13%	9.1%	8.7%
EBITDA margin %	—	6.2%	3.2%	2.4%
EBIT margin %	—	4.7%	1.8%	0.9%
PAT margin %	2.4%	2.7%	4.5%	0.9%
Working capital
Receivable days	133	108	111	131
Inventory days	35	71	42	47
Payable days	27	59	66	59
NWC days	141	121	87	118
Leverage
Current ratio	2.19	2.09	2.27	3.77
Debt to EBITDA	—	1.21	2.32	3.53
Debt to equity	0.26	0.05	0.07	0.07
Interest coverage	-0.1	2.4	3.1	2.2
Asset turnover	1.18	0.58	0.74	0.69
Return ratios
Return on assets %	2.8%	1.5%	3.3%	0.6%
Return on capital employed %	-0.3%	5.2%	3.3%	2.5%
Return on equity %	4%	1.8%	4.3%	0.8%

251 deals · 3 Aug 2021 – 4 Jun 2024

Date	Client	Type	Venue	Side	Quantity	Price	Value
4 Jun 2024	VISHWAS FINCAP SERVICES PRIVATE LIMITED	Bulk	NSE	Sell	85,87,200	₹3.61	₹3.10 Cr
4 Jun 2024	VISHWAS FINCAP SERVICES PRIVATE LIMITED	Bulk	NSE	Buy	72,87,200	₹3.59	₹2.62 Cr
3 Jun 2024	VISHWAS FINCAP SERVICES PRIVATE LIMITED	Bulk	NSE	Sell	78,72,108	₹3.68	₹2.90 Cr
3 Jun 2024	VISHWAS FINCAP SERVICES PRIVATE LIMITED	Bulk	NSE	Buy	57,49,137	₹3.75	₹2.16 Cr
10 Apr 2024	VISHWAS FINCAP SERVICES PRIVATE LIMITED	Bulk	NSE	Sell	74,98,510	₹4.03	₹3.02 Cr
10 Apr 2024	VISHWAS FINCAP SERVICES PRIVATE LIMITED	Bulk	NSE	Buy	69,94,789	₹4.03	₹2.82 Cr
3 Apr 2024	VISHWAS FINCAP SERVICES PRIVATE LIMITED	Bulk	NSE	Sell	90,73,946	₹4.37	₹3.97 Cr
3 Apr 2024	VISHWAS FINCAP SERVICES PRIVATE LIMITED	Bulk	NSE	Buy	90,58,946	₹4.35	₹3.94 Cr
2 Apr 2024	VISHWAS FINCAP SERVICES PRIVATE LIMITED	Bulk	NSE	Buy	85,05,090	₹4.23	₹3.60 Cr
2 Apr 2024	VISHWAS FINCAP SERVICES PRIVATE LIMITED	Bulk	NSE	Sell	80,55,090	₹4.22	₹3.40 Cr

1–10 of 251

1 / 26

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Vikas Ecotech Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Segment results

Chemical, Polymers & Special Additives · revenue

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

No fund holdings on record

Announcements

Quarterly record

Annual reports

Dividends10

Board meetings1

Stock splits1

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Segment results

Chemical, Polymers & Special Additives · revenue

10

1

1