Vikas Wsp Ltd share Price

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• Incorporated as Vikas Gum Mills Pvt Ltd and subsequently renamed Vikas WSP Pvt Ltd in Aug.`82, Vikas WSP was converted into a public limited company in Sep.`92. Guar water soluble polymers (GWSP), an effective water retention agent manufactured by its 100% EOU since Sep.`90, is a natural polymer which is extensively used in the food and pharmaceutical industries. GWSP of over 6000 csp viscosity produced by the company is mainly exported to the US, the UK, Germany, Italy, Spain and Japan. The Government of India has recognised the company`s efforts by awarding it the Export House status and the APEDA Export Award for 1994-95. Vikas WSP has developed new products for specific use in the food industry like guar TL for cat feed and guar D & SCM. In Sep, 1995, it set up a unit with production capacity of 3600 TPA of Guar Derivatives (GD). A 100% EOU for the manufacture of guar polymers and odourless guar polymers was completed in Feb./Mar.`99, the post expansion production capacity of the 100% EOU is now 39900 TPA. Vikas wsp Limited, the world`s second largest guar gum producer, is setting up a 4,200 tonne per annum (tpa) hydroxy propyl guar(HPG) and carboxy methyl hydroxy proplyl guar (CMHPG) manufacturing facility at its existing plant in Sriganganagar in Rajasthan. The new unit is being set up at an estimated cost of Rs 70 crore and is being financed primarily through internal accruals. The company is setting up a similar value-added guar gum plant at Baroda, having an annual capacity of 12,600 tonne per annum. This plant will go on stream in October 2001 and will make Vikas WSP the world`s largest producer of guar gum and polymers. The company`s existing four plants have a combined capacity of 39,900 tonnes per annum. The new products, HPG and CMHPG, find application in exploration of oil and natural gas from the geo-thermal hot wells. Vikas WSP plans to raise close to Rs 155 crore from the preferential allotment meant to part finance its Rs 220 crore expansion-cum-modernisation plan. The balance amount is proposed to be met through internal accruals. Part of the funds will be used to set up a research and development facility with an investment of Rs 25 crore. The Company has allotted 1 crore equity shares of Re 1 each at Rs 82.50 per share to the promoters / directors / associates of the Company. Following the family partition of the Directors, exclusive control of the company was taken over by Mr B.D. Agarwal and, for administrative reasons, it was decided to shift the planned Baroda project to Sriganganagar. Now the plant is expected to commence its production by September 2002 at Sriganganagar. Manufacturing of a few planned products have already commenced.