In Tuesday’s trading session, the shares of a leading provider of ayurvedic, herbal & cosmetics healthcare surged by 7.8 percent to Rs. 24.7 on BSE, after the company secured an export order worth Rs. 84 lakh from a Top USA Institutional Supplier.
At 02:15 p.m., the shares of VeerHealth Care Limited were trading in the green at Rs. 24.44, up by 6.7 percent, compared to its previous closing price of Rs. 22.91, with a market cap of Rs. 49 crores.
Is VeerHealth Care a buy or sell? What is its Fair Value? What are the company's health parameters? What are the positive and negative factors driving the company -- ProTips? Know all the answers on the company's overview page here.
What’s the News:
According to the latest regulatory filings with the BSE, VeerHealth Care Limited announced receiving an export order of a new toothpaste variant valued at US$ 101680 (~₹84 Lakhs) from a leading institutional supplier in the USA.
With this order of a new variant, the company has acquired orders in all the variants marketed by the client in the USA. The order will be executed within a period of 3 months.
Previous News:
On 22nd July, Veerhealth Care Limited announced securing a repeat order worth Rs. 121 lakhs in the hair care category from one of the leading corporate healthcare companies.
On 9th August, Veerhealth Care Limited announced initial expansion plans, which include acquiring an additional 27,451 sq. ft. of land adjacent to its existing manufacturing facility in Vapi, Gujarat.
The acquisition will enable the establishment of new manufacturing lines that comply with CGMP norms as required by the USFDA, addressing the rising demand from the USA, East & North African markets.
Following the expansion, the total plot area stood at 58,623 sq. ft., combining the current 31,172 sq. ft. with the newly acquired 27,451 sq. ft.
The total constructed area will increase to 90,000 sq. ft., with 60,000 sq. ft. from the existing facility and 30,000 sq. ft. from the new construction.
This strategic move is expected to support Veerhealth Care Limited achieve a revenue target of Rs. 100 crore over the next 2 to 3 years, with a 10 percent PAT margin.
Financials:
Financially, the company experienced a fall in its revenue from operations, showing a year-on-year decline of 8.8 percent from Rs. 3.73 crores in Q4 FY22-23 to Rs. 3.4 crores in Q4 FY23-24.
Similarly, its net profit decreased during the same period from a profit of Rs. 1.04 crores to a loss of Rs. 0.55 crores.
Stock performance:
The stock has delivered positive returns of nearly 26 percent in one year as well as around 13.5 percent returns in the last six months. So far in 2024, the shares of VeerHealth Care have given about 15.4 percent of positive returns.
About the company:
VeerHealth Care Limited is engaged in the business of manufacturing and supply of ayurvedic medicines, oral care products and personal care products under the brand ‘Ayuveer’.
Some of the company’s products include health care, oral care & personal care products like shampoos, conditioners, lip balms, creams, scrubs, bath salts, shower gels, lotions, ayurvedic toothpaste and much more under ayurvedic & cosmetic license.
The company was originally incorporated in 1992 as Niyati Leasing Limited with the purpose of starting a business in investment and finance, but in 2013, the management decided to diversify the business activities and changed its main object to the Pharma sector.
Written by Shivani Singh
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