Vikas EcoTech Limited (VIKASECO) AI Stock Analysis

• Market Cap: ₹2.71B
• Dividend Yield: N/A
• Average Volume (3M): 260.83K
• Price to Earnings (P/E): 27.3
• Beta (1Y): 0.76
• Revenue Growth: 7.61%
• EPS Growth: -50.76%
• Country: IN
• Employees: 109
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals - Specialty
• EPS (TTM): 0.01
• Shares Outstanding: 1,768,710,000
• 10 Day Avg. Volume: 400,205
• 30 Day Avg. Volume: 260,834
• PEG Ratio: 0.42
• Price to Book (P/B): 1.08
• Price to Sales (P/S): 1.13
• P/FCF Ratio: -6.52
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 52 Neutral
• Price Target: ₹1.50 ▼(-12.79% Downside)

The overall stock score reflects a combination of strong financial performance in revenue growth and equity management, offset by significant technical weaknesses and moderate valuation. The stock's bearish technical indicators and lack of dividend yield weigh heavily on its attractiveness.

Positive Factors

Strong Revenue Growth

A 45.5% annual revenue increase in 2025 signals durable demand for its specialty polymer additives across packaging, automotive and industrial customers. Sustained top-line expansion supports scale benefits, better fixed-cost absorption and reinvestment capacity into R&D or capacity over the next several quarters.

Conservative Capital Structure

Very low leverage and a high equity ratio provide lasting financial flexibility to fund working capital, capex, or withstand sector cyclicality without heavy interest burdens. This conservative structure reduces refinancing risk and supports long-term investment in manufacturing and customer programs.

Improving Return on Equity

A meaningful ROE improvement reflects better utilization of shareholders' equity and operational progress. If sustained, higher ROE indicates improving profitability and management effectiveness in deploying capital into higher-return product mixes or efficiency gains over the medium term.

Negative Factors

Negative Free Cash Flow

Material negative free cash flow is a persistent concern because it erodes internal funding capacity and forces dependence on external financing. Over 2–6 months this can constrain capacity expansions, margin recovery programs, or flexibility to support customers during demand swings.

Weak Cash Conversion

Negative cash conversion indicates structural working-capital or collection issues that limit cash available from operations despite reported revenue. Persistent conversion weakness can pressure liquidity, raise financing costs, and impede durable investment in processes or new product development.

Earnings Decline / EPS Growth Weakness

A steep ~-50.8% EPS contraction points to margin pressure, cost shocks, or one-off items reducing earnings power. If earnings growth lags revenue, the company may struggle to build retained earnings and fund strategic initiatives, limiting durable improvements in shareholder returns.

Vikas EcoTech Limited Business Overview & Revenue Model

Company Description

Vikas EcoTech Limited manufactures and sells specialty additives, and rubber-plastic and polymer compounds in India. It offers specialty additives, including organotin stabilizers, dimethyl tin dichloride, plasticizers, chlorinated paraffin, flame-retardants, and chlorinated polyethylene, as well as epoxidized soyabean oil; and thermoplastic rubber, thermoplastic elastomer, and ethylene vinyl acetate compounds. The company also trades in TAFMER/POE, ACEOX, and CELLCOM products, as well as processing aid, impact modifier, PE wax, styrene ethylene butylene styrene, styrene butadiene copolymer, styrene butadiene rubber, PVC resin, titanium dioxide, methanol, and carbon black products. In addition, it manufactures specialty-recycled materials, such as poly vinyl chloride compounds and polyethylene terephthalate compounds. The company's products are used in a range of industries, such as agriculture, automotive and allied, food packaging, footwear, healthcare and pharma, infrastructure, plastic and polymers, wires and cables, and other industries. Vikas EcoTech Limited exports its products to approximately 20 countries, including Bangladesh, China, Germany, Pakistan, Singapore, Spain, Sri Lanka, Turkey, Turkmenistan, Tunisia, the United Arab Emirates, Ukraine, and Vietnam. The company was formerly known as Vikas GlobalOne Limited and changed its name to Vikas EcoTech Limited in December 2015. Vikas EcoTech Limited was incorporated in 1984 and is headquartered in New Delhi, India.

How the Company Makes Money

Vikas EcoTech Limited generates revenue through multiple streams, including the sale of eco-friendly technologies and systems, consulting services for sustainability projects, and maintenance contracts for installed systems. The company also benefits from government incentives and grants aimed at promoting renewable energy and environmental initiatives. Key partnerships with local governments and environmental organizations enhance their market reach, while collaborations with research institutions drive innovation and development of new products. Additionally, VIKASECO may engage in project financing and joint ventures, further diversifying its income sources.

Vikas EcoTech Limited Financial Statement Overview

Summary

Vikas EcoTech Limited demonstrates strong revenue growth and efficient equity management, but faces challenges in cash flow generation and maintaining net profitability. The company shows promise with improved revenue and equity utilization metrics, yet the negative free cash flow and low net margins are areas to address for sustainable financial health.

Income Statement

Vikas EcoTech Limited has shown significant revenue growth over the past years, with the most recent annual increase of 45.5% in 2025. Gross Profit Margin improved to 6.2% in 2025 from 12.2% in the previous year, indicating efficiency in production cost management. However, the Net Profit Margin remains relatively low at 4.5%, suggesting that operating expenses are impacting overall profitability despite the revenue growth.

Balance Sheet

The company's Debt-to-Equity Ratio is relatively low at 0.07, reflecting a strong equity position compared to debt, which enhances financial stability. The Return on Equity (ROE) improved significantly to 4.3% in 2025, up from 1.8% in 2024, indicating better utilization of shareholders' equity. However, the Equity Ratio is a solid 76.7%, underscoring the company's ability to leverage its assets effectively.

Cash Flow

Vikas EcoTech's Free Cash Flow showed negative growth in 2025, falling to -653 million, which is concerning. The Operating Cash Flow to Net Income Ratio is negative, highlighting challenges in converting revenue into actual cash flow. While the company had positive cash flow from financing activities, reliance on external financing may pose risks if not managed carefully.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.80B	3.78B	2.59B	4.03B	2.50B	1.16B
Gross Profit	302.94M	234.58M	239.54M	387.19M	116.81M	112.57M
EBITDA	208.09M	309.93M	193.87M	225.19M	247.84M	90.52M
Net Income	89.71M	169.84M	68.47M	95.27M	13.92M	-143.50M
Balance Sheet
Total Assets	0.00	5.13B	4.44B	3.43B	3.44B	3.26B
Cash, Cash Equivalents and Short-Term Investments	48.86M	48.86M	13.74M	55.42M	110.37M	3.20M
Total Debt	0.00	284.44M	192.94M	617.81M	929.47M	1.51B
Total Liabilities	-3.93B	1.19B	671.59M	1.05B	1.17B	1.97B
Stockholders Equity	3.93B	3.93B	3.76B	2.38B	2.28B	1.29B
Cash Flow
Free Cash Flow	0.00	-653.49M	1.15B	915.94M	-195.60M	113.77M
Operating Cash Flow	0.00	-602.14M	1.20B	966.01M	-178.47M	124.39M
Investing Cash Flow	0.00	414.04M	-2.03B	-581.23M	3.06M	-4.22M
Financing Cash Flow	0.00	194.48M	826.03M	-410.68M	200.19M	-120.07M

Vikas EcoTech Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.72
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:VIKASECO, the sentiment is Negative. The current price of 1.72 is above the 20-day moving average (MA) of 1.57, above the 50-day MA of 1.61, and below the 200-day MA of 2.06, indicating a bearish trend. The MACD of -0.05 indicates Positive momentum. The RSI at 39.95 is Neutral, neither overbought nor oversold. The STOCH value of 46.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:VIKASECO.

Vikas EcoTech Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PASUPTAC	74 Outperform	₹4.07B	9.97	―	―	36.99%	10.60%
AARTISURF	69 Neutral	₹3.51B	19.63	―	0.25%	28.46%	-2.09%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
BEDMUTHA	54 Neutral	₹4.12B	-7,974.68	―	―	34.36%	-100.15%
VIKASECO	52 Neutral	₹2.71B	27.32	―	―	7.61%	-50.76%
APCL	51 Neutral	₹3.97B	-10.04	―	―	-3.03%	27.30%
GOACARBON	43 Neutral	₹3.44B	-5.67	―	5.02%	-19.25%	-220.20%

Vikas EcoTech Limited Corporate Events

Vikas EcoTech Board Clears Q2 and Half-Year FY2025 Unaudited Results

Vikas EcoTech Limited’s board of directors has approved the company’s standalone and consolidated unaudited financial results for the quarter and half year ended 30 September 2025. The results, reviewed by the audit committee and cleared at a board meeting on 14 November 2025, formalize the company’s financial reporting for the period and provide investors and regulators with updated visibility on its operational and financial performance.

Vikas EcoTech shuts trading window ahead of December-quarter results

Vikas EcoTech Limited has announced that its trading window will be closed from 1 January 2026 until 48 hours after the publication of its unaudited financial results for the quarter ended 31 December 2025, in line with SEBI’s Prohibition of Insider Trading Regulations. The company said the date of the board meeting to consider and approve these quarterly results will be communicated later, and designated persons have been instructed not to trade in the company’s securities during the window closure, underscoring its adherence to regulatory norms and governance standards.