Veerhealth care received export order from East africa

 

Veerhealth Care Ltd – engaged in the business of ayurvedic, herbal and personal care products has received export orders from East Africa worth 1.36 crore. Company has received orders 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 a 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 the company's expansion plans to expand its presence in the export market and increase export sales.

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

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.

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, the company has reported net profit of Rs. 1.58 crore and sales of Rs. 13.28 crore. For Q1FY24, the 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 the company is planning to launch many innovative products in time to come.