Penny stock with strong FII holding got DSIR recognition for in-house R&D units

Market


With a market worth of 644.49 crore, Vikas Lifecare Ltd. is a small-cap business that operates in the commercial services industry. A leading international supplier of premium specialty chemicals is Vikas Lifecare Limited. The Company’s main line of work is manufacturing and trading PVC and plastic products. The company announced today that the Department of Scientific and Industrial Research, Ministry of Science & Technology, Government of India (DSIR), has recognised its in-house R&D unit(s).

Vikas Lifecare said that this prestigious DSIR recognition set-up by the government of India for benchmarking the industrial R&D not only acknowledges the company’s In-House R&D activities’ supremacy, par excellence research work and innovations but also encourages us to maintain our R&D activities at par with international standards.

This DSIR recognition for Company In-House R&D Units makes it possible for it to receive funding for R&D purposes from various governmental departments and agencies, and it also enables the company to invest further in necessary equipment with reduced or zero tax liability, as R&D Equipments could now be imported with 100% custom duty exemption, whereas domestic equipment purchases ‘ll only lure reduced GST rate of 5%. Additionally, a product developed by the R&D unit that has two patents—one from India and the other from another nation (the US, China, or EU)—is eligible for a three-year term during which it can be marketed without paying excise taxes.

The recognition and the pursuing benefits will help VLL generate additional revenues via manufacturing niche materials and or sales of the in-house technology to produce such materials and or royalty fee generated from the technology / technique is let out to other producers of similar materials, said Vikas Lifecare in an announcement.

Ravi Singh, Vice-President and Head of Research at Share India said “Vikas lifecare has continuously expanded its business in new sectors. Due to this good growth can be expected in its business in the coming years. The company has also posted improved financial numbers on a y-o-y basis with better EBITDA margins. The stock can see some momentum in the near term.”

The shares of Vikas Lifecare closed today on the BSE at 4.48 apiece level, down by 0.67% from the previous close of 4.51. The stock recorded a total volume of 14,539,732 shares compared to the 20-Day average volume of 13,142,203 shares. The stock touched a 52-week-high of 8.15 on (21/01/2022) and a 52-week-low of 3.63 on (12/05/2022). For the quarter ended September 2022 or Q2FY23, the company posted a promoter shareholding of 12.27%, FIIs holding of 9.58% and a public shareholding of 78.15%.


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