Vikas EcoTech Limited — Capital/Financing Update 2022

Jan 31, 2022

==> picture [452 x 81] intentionally omitted <==

January 31, 2022

Listing Department Deptt of Corporate Services National Stock Exchange of India Ltd BSE Limited Exchange Plaza Phirozee Jeejeebhoy Towers, Bandra-Kurla Complex, Dalal Street, Fort, Bandra (E), Mumbai 400 051 Mumbai 400 001 NSE Symbol: VIKASECO Scrip Code: 530961

Sub : Debt Reduction Program Phase-II - Update

Ref : Disclosure under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015

Dear Sir/Madam,

In continuation to our earlier communication dated January 24, 2022 on the captioned subject, we are pleased to inform you that, with the support of the promoters, the Company has paid another trench of Rs. 50 million to reduce its’ bank debt, in the Phase-II of Debt-Reduction Program, making it Rs. 270 million bank-debt repaid of the Rs. 350 million bank debt repayment envisioned for the current fiscal.

After completion of this phase, bank-debt shall get reduced by approx. 40% from the peak exposure, paving the way towards becoming a ‘ZERO debt company’ in the next financial year i.e. 2022-23

Further, promoters of the Company have intended to get their financial assistance/unsecured loans, provided for debt reduction program, converted into equity at appropriate stage after obtaining statutory approvals.

You are requested to take the information on record and oblige.

Thanking you,

Yours Faithfully,

for Vikas Ecotech Limited

SAJWANI Digitally signed by SAJWANI PRASHANT PRASHANT Prashant Sajwani Company Secretary