Vikas Lifecare Reports Q2 FY2024 Revenue Growth to ₹134.88 Crore Despite EPS Decline; Partners with Defence Labs for Advanced EMI Shielding Solutions

Vikas Lifecare Limited reported its Q2 FY2024 results, showcasing a notable increase in sales, which reached ₹134.88 crore compared to ₹116.03 crore in Q2 FY2023. The turnover for August 2024 was ₹138.22 crore, up from ₹122.75 crore in the same month last year. Despite this revenue growth, the company’s earnings per share (EPS) from continuing operations fell to ₹0.03, down from ₹0.06 in the same quarter of the previous fiscal year.

For the first six months of FY2024, Vikas Lifecare achieved sales of ₹226.97 crore, slightly ahead of the ₹214.93 crore reported for the same period last year. However, the total revenue of ₹232.57 crore for the six months represented a marginal decline from ₹233.26 crore in H1 FY2023, with a basic EPS of ₹0.02 compared to ₹0.14 in the previous year.

On the strategic front, Vikas Lifecare has entered a joint venture with the Defence Electronic Applications Laboratory (DEAL), IIT Delhi, and CSIR-NPL to develop novel nanocomposites for electromagnetic interference (EMI) shielding. This initiative, backed by a Non-Disclosure Agreement (NDA), aims to create advanced materials incorporating polymer materials, carbon fibers, multi-walled carbon nanotubes (MWCNT), graphene nano ferrites, and metal nanoparticles to enhance electrical and thermal conductivity.

Promoters of Vikas Lifecare demonstrated confidence in the company’s future by purchasing 7 crore shares, raising their stake from 11.75% to 14.21% as of June 2024. The company’s market capitalization is currently over ₹800 crore, with its stock price rising approximately 21.25% from a 52-week low of ₹4.14 to ₹5.02.

Vikas Lifecare is diversifying its business into sectors such as FMCG, agro products, infrastructure development, and entertainment production. Its subsidiary, Genesis Gas Solutions Pvt. Ltd., remains a leader in smart gas metering devices in India. As an ISO 9001:2015 certified company, Vikas Lifecare’s financial health, strategic partnerships, and diverse operations position it for future growth.

Disclaimer: This information is for informational purposes only and does not constitute financial advice. Please consult a financial advisor or conduct your own research before making any investment decisions.