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Stock Report
Veerhealth Care Ltd secures repeat order worth ₹ 121 Lakhs in Hair Care Category
Posted On : 2024-07-22 18:37:25( TIMEZONE : IST )
Veerhealth Care Limited, a leading manufacturer of Herbal & Cosmetic products, has secured a repeat order in the hair care category from one of the leading corporate healthcare companies, which is an existing client since long.
The name of the entity awarding the order remains undisclosed as per the terms of the Non-Disclosure Agreement. This order has been awarded by a domestic entity and involves the manufacture and supply of hair care products, with a stipulated execution period of 60 days. The broad consideration for this order is ₹ 121 Lakhs. In addition to this, Company is expecting more such repeat orders from this existing client. The Company is renovating its existing plant in Vapi, Gujarat to set up a bigger plant which will be as per CGMP norms as required by US FDA.
This order underscores the trust and confidence that clients place in Veerhealth Care's products and services, further solidifying its position in the market. The company remains committed to delivering high-quality products and fulfilling clients' needs with excellence.
In February 2024, Company announced its ambitious expansion plans with a proposed investment of ₹33 Crores. This investment encompasses various aspects including the acquisition of land near to its existing plant, construction of buildings, procurement of plant and machinery, and development of essential infrastructure.
In FY24, Company reported Total Revenue of ₹ 14.61 Crores, Profit before tax of ₹ 1.28 Crores. The company is expecting to reach Revenue of ₹ 100 crores with PAT of 10% in next 2 to 3 years.
Shares of Veerhealth Care Limited was last trading in BSE at Rs. 24.22 as compared to the previous close of Rs. 24.42. The total number of shares traded during the day was 369971 in over 435 trades.
The stock hit an intraday high of Rs. 25.65 and intraday low of 23.60. The net turnover during the day was Rs. 8958773.00.
