New Delhi [India], January 14 (ANI/PNN): BSE and NSE listed Vikas Lifecare Limited has announced that, moving further with the objective of broadening the product portfolio, diversifying into futuristic and unique product lines, new edge businesses, complementing and supplementing the existing business lines of the Company, the company has entered into a concrete agreement with the existing promoters/shareholders for acquiring 75% equity of Genesis Gas Solution.
Following this year’s achievement of the long-awaited debt-free status, Vikas Lifecare is actively examining and striving to increase the company’s footprint in the burgeoning infrastructure products area, in addition to other commercial plans.
Commercial production is anticipated to begin during the current fiscal year. The company is now in the advanced stages of activating a manufacturing facility for pipe lines for gas distribution. A corporation with ISO 9001:2015 certification, Vikas Lifecare Ltd. (VLL) trades and manufactures polymer, rubber compounds, and additives for plastics, synthetic rubber, and natural rubber.
The company’s main business activities include those in the following sectors: Manufacturing up-cycled compounds from industrial and post-consumer waste materials like EVA, PVC, PP, and PE, among others, in order to fulfil the required EPR obligations for the conglomerates using hundreds of thousands of tones of plastic goods and packaging materials, contributes to the Government of India’s initiatives for environmental protection.
The public sector company ONGC (Oil and Natural Gas Corporation Ltd.) Petro Additions Limited, which manufactures a wide range of basic polymers and commodity plastic raw materials, also uses VLL as a Del-Credere agent.
As part of a long-term business strategy, the company recently expanded beyond raw materials (B2B businesses) and entered the B2C market with a variety of consumer products, including FMCG, Agro, and Infrastructure Products. This move paved the way for an aggressive business growth with carefully considered and chosen product portfolios through acquisitions, joint ventures, and tie-ups. VLL plans to grow its presence within the nation and beyond by starting or acquiring companies in these sectors.
The Company’s securities are traded on the BSE (Scrip Code: 542655) and NSE stock exchanges (Scrip Code: VIKASLIFE).
A group of technopreneurs and financial experts with an impressive track record of successful start-ups that developed and provided a wide range of niche goods to the electrical utility and defense equipment sectors co-founded Genesis in 2017. These Technocrats, who received their education at prestigious institutions like the IITs, gave Genesis specialized and homegrown products in sophisticated solid-state encryption for defense applications as well as a number of products that were a success with the power distribution companies and are now widely used commercially to cut transmission losses.
Since its founding, Genesis has concentrated especially on India’s developing city gas distribution industry. Genesis developed a wide range of intellectual property, such as software and hardware solutions for domestic gas metering, industrial gas metering, and gas leak detection systems. The company has also carved out a niche for itself by acquiring about 20% of the domestic gas metering market share in India.
By launching India’s first Pre-Payment system, which was locally created and purchased by Indraprastha Gas Limited (IGL-Largest India’s Gas Company) and GAIL (India) Limited, Genesis also set the bar for Smart Gas and Water Metering in India. In addition to its field devices, Genesis has also developed its own network solution, which is now being acknowledged by businesses like Honeywell and Hitachi who are evaluating these in-house solutions for their global projects.
Among Genesis’ many notable accomplishments & advancements are,
Genesis has supplied more than 4 lakh metres from Hangzhou Beta Meter Co. to IGL as a gas metre supplier. Ltd., as well as post-purchase services, under an exclusive supply agreement. Beta Meter Co. in Hangzhou Ltd. is regarded as the top-ranking gas metre manufacturing firm in the world because of its strong technological capabilities, contemporary management, and high production capacity.
Genesis will soon provide our proposals for connecting all CNG Stations and creating a single operating console to diverse Gas Companies using the SCADA system.
Indraprastha Gas Ltd, a joint venture between GAIL, BPCL, and the Government of the National Capital Territory of Delhi, uses Genesis’ Smart Meter Meter Interface Unit (MIU) and related services.
With Tata Communications, Genesis is a provider of smart metering solutions (AMR & Prepaid) using RF-based Lora WAN technology.
For gas utilities in India that manage more than 150,000 smart metres, Genesis Gas created the country’s first Meter Data Management (MDM) and Head end solution.
Among Genesis’ clients are:
JV between Gail and HPCL: Avantika Gas Ltd.
The largest CGD in India is Gujrat Gas Ltd.
include Haryana City Gas ltd
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