Vikas Lifecare Limited Announces Establishment of New Manufacturing Facility Under Rajasthan Investment Promotion Scheme (RIPS)

Vikas Lifecare Limited (BSE: 542655, NSE: VIKASLIFE) is pleased to announce the establishment of a new, state-of-the-art manufacturing facility in the Shahjahanpur RIICO Industrial Area, spanning 20,000 square feet, under the Rajasthan Investment Promotion Scheme (RIPS). Scheduled to commence operations in December 2024, this facility will specialize in manufacturing advanced commodity compounds, including EVA, ATH, Thermoplastic Rubber, and Thermoplastic Elastomer. This strategic initiative reaffirms the Company’s commitment to leveraging RIPS incentives for driving profitability and fostering regional development.

Through RIPS, the Government of Rajasthan offers several fiscal benefits, including a 9% SGST refund on products manufactured and sold within the state. Additional advantages include subsidies linked to employment generation, exemptions or deferments on duties such as electricity duty and land tax, and potential capital investment and interest subsidies. With a production capacity of 5,000 MTPA, the facility is expected to generate additional annual revenue of INR 400-500 million, significantly contributing to the Company’s profitability and growth trajectory while strengthening its competitive position in the market.

Vikas Lifecare Limited (VLL) is an ISO 9001:2015 certified company, conventionally engaged in manufacturing and trading of Polymer and Rubber compounds and Specialty Additives for Plastics, Synthetic & Natural Rubber. Polymer & Rubber Commodity (bulk consumption) Compounds and Master-Batches (Manufacturing up- cycled compounds from industrial and post-consumer waste materials like EVA, PVC, PP, PE etc.), contributing to the Environment Protection initiatives from the Government of India and fulfilling the mandated EPR obligations for the conglomerates consuming hundreds of thousands of tons of plastic products and packaging materials.

VLL’s subsidiary M/s Genesis Gas Solutions Pvt. Ltd. (GGSPL) is engaged in the business of Smart Gas Meters being supplied to all the major Gas Distribution Companies for domestic and commercial consumers. Genesis pioneers in Smart Gas Metering and commands about 20% share in the Domestic Gas Metering market in India. In June 2023, under a joint venture agreement between Indraprastha Gas Limited (IGL) and Genesis Gas Solutions Private Limited (GGSPL) a joint venture company IGL GENESIS TECHNOLOGIES LIMITED was incorporated which is in the process of establishing a plant for manufacturing Gas Meters based on the technology know-how from Hangzhou Beta Meters, the largest Gas Meter Producer in the world, along-with the indigenous software developed by Genesis using LORA WAN technology for the wireless connectivity for the Smart Meters. The plant will start operations within the FY 2024~25.

As a long-term business strategy, the company has most recently diversified its business interests beyond raw materials (B2B businesses) and forayed into the B2C segment with a host of consumer products including FMCG, Agro, and Infrastructure Products; paving way for an aggressive business growth with intricately planned and making continuous additions to the products & services portfolios via acquisitions, joint ventures and tieups. The Company continues spreading its arms under entertainment sector with a new venture in film production. This strategic move marks Vikas Lifecare Limited’s entry into the dynamic world of cinema, leveraging its expertise in creativity and innovation to deliver captivating and thought-provoking content to audiences worldwide.