Veerhealth Care Ltd receives Export Order
Gujarat: Veerhealth Care Ltd – engaged in the business of ayurvedic, herbal and personal care products has received export order from East Africa. 1.36 crore. Company has received order from M/s. Vision lmpex Limited, Uganda, East Africa for Fresh Up Red Gel Toothpaste. Company is expected to execute the orders in the next three months.
This order is in addition to contract signed in June 2023 to supply “WHIDENT” range of toothpaste to North West African countries including Morocco, Casablanca etc. The move is part of company’s expansion plans to expand its presence in the export market and increase export sales. Company has already been successfully manufacturing and exporting various types of toothpaste to East African countries.
Highlights:-
- Company has approved allotment of bonus shares; Company announced 1:1 bonus issue
- Company has successfully turnaround the business operations in FY23 and ready for the next phase of growth
- Company has a strong product portfolio of over 100 Herbal and Ayurvedic Products in Skincare, Bodycare, Haircare, Oralcare, Healthcare and Fragrance
- Company has successfully completed Rs. 5.9 crore preferential issue to fund its expansion plans
- Company’s brand ‘Ayuveer’ and e-commerce platform is getting strong traction in the domestic and export markets; Started exports to USA and South Africa
- Company’s client includes Dava India, Gracious Pharma, Babuline Pharma, Graciera Pharma, Apollo Pharmacy etc
Board of Directors of the company at its meeting held on September 25, 2023 has approved allotment of 99,99,238 Bonus Shares in the ratio of 1:1 i.e. 1 (One) Equity Share of Rs. 10 each for every 1 (One) existing Equity Share of Rs. 10 each to the equity shareholders. The board has also approved to increase the authorised share capital of the company to Rs. 31 crore from Rs. 21 crore.
Company has a strong product portfolio of over 100 Herbal and Ayurvedic Products in Skincare, Bodycare, Haircare, Oralcare, Healthcare and Fragrance. Company’s brand ‘Ayuveer’ and its e-commerce platform is getting strong traction in the domestic and export markets; Started exports to USA and South Africa. Company’s client includes Dava India, Gracious Pharma, Babuline, Graciera Pharma, Apollo Pharmacy etc. Company has a vision to become a leading provider of health care and personal care products by making available research-based quality products to meet the varied health needs of customers.
Veerhealthcare Care Ltd has successfully turnaround the business operations in FY23 and ready for the next phase of growth and quantum jump in the revenue and profits. For FY23, company has reported net profit of Rs. 1.58 crore and sales of Rs. 13.28 crore. For Q1FY24, company reported total income growth of 28% Y-o-Y and Net Profit growth of 294% Y-o-Y.
Company is progressing well on its long-term growth roadmap and already completed its expansion plans. Company’s ‘Ayuveer’ brand is getting good traction in the domestic and export markets and company is planning to launch many innovative product in time to come.
In the month of March 2023, company has successfully completed preferential allotment of 30.65 lakh equity shares of Rs. 10 each at Rs. 19.25 per share including premium of Rs. 9.25 per share amounting Rs. 5.90 crore. The funds are being utilised for the expansion of company’s manufacturing facilities, new product launches and install new manufacturing lines.
The Company produces Intensive research-based quality products with expert guidance and enormous experience of renowned Vaid of Mumbai, Dr. Vinod C. Mehta, an Ayurvedic practioner since 30 years and Dr. Rajiv Bhirud, an expert in formulations of cosmetic and personal care products. The company is well-equipped with state-of-the-art manufacturing facilities and skilled personnel to ensure optimum utilization of resources with the best quality product.
