Veerhealth gets New Export Order Worth Rs 89 Lakhs
Veerhealth Care Limited secures a new export order valued at ₹89 lakhs from a top institutional supplier in the United States, underscoring its international presence and client satisfaction.
by Damodharan N
Updated Jul 15, 2024
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Table of Content
Veerhealth Care Limited, a prominent manufacturer specializing in oral care and personal care products, has announced a significant achievement with the receipt of a new export order valued at $106,673 (approximately ₹89 lakhs).
This order originates from a top institutional supplier in the United States of America, highlighting Veerhealth's strong international presence and ongoing partnership with esteemed clients.
This latest export order adds to Veerhealth's recent successes, including orders valued at $50,000 (approximately ₹41.50 lakhs) and $197,793 (approximately ₹165 lakhs), which are set for full execution by the end of July.
The company anticipates regular monthly orders from the same U.S. institutional supplier, underscoring their consistent satisfaction with Veerhealth's products and services.
Commenting on the order, Mr. Bhavin Shah - Managing Director of Veerhealth Care Limited said, "As the Managing Director of Veerhealth Care Limited, I am delighted to announce this significant milestone for our company.
This additional export order from a top institutional supplier in the United States is a testament to the quality and reliability of our products. It reflects the trust and satisfaction our international partners have in our capabilities.
In line with its growth strategy, Veerhealth Care Limited is investing ₹33 crores to expand its operations, including the establishment of a larger plant in Vapi, Gujarat, which will comply with US FDA and WHO standards.
With a reported FY24 revenue of ₹14.61 crores and a profit before tax of ₹1.28 crores, Veerhealth aims to achieve a revenue milestone of ₹100 crores with a 10% profit after tax over the next 2 to 3 years, reflecting its robust growth trajectory in the global market.
Read the full Release Here
Market Reaction
Following VeerHealth Care Limited's announcement of an Rs. 89 lakh export order, the market responded dynamically. Share prices on the Bombay Stock Exchange (BSE) opened at Rs. 23 at 9:30 AM, but surged to Rs. 24 by 9:28 AM with 1,87,755 shares traded, indicating increased buying activity.
Prices fluctuated throughout the day, peaking briefly at Rs. 25 by 11:59 AM and settling at Rs. 24 by afternoon, closing at the same price by 3:45 PM.
Watch the share price on BSE Here
Veerhealth Care
VeerHealth Care Limited (BSE – 511523) specializes in manufacturing and supplying a range of Ayurvedic medicines, oral care, and personal care products. Located in Vapi, Gujarat, the company operates a modern manufacturing facility that meets international standards with validated systems.
Their product line includes health care items, oral care products, and cosmetics such as shampoos, conditioners, lip balms, creams, and more. VeerHealth emphasizes quality, backed by intensive research and the expertise of Dr. Vinod C. Mehta and Dr. Rajiv Bhirud, renowned in Ayurvedic medicine and cosmetic formulations respectively.
The company holds certifications including Ayurvedic and Cosmetic Manufacturing Licenses, ISO 9001:2015, and an Authorized Economic Operator T1 Certificate for exports.
Veerhealth gets New Export Order Worth Rs 89 Lakhs - FAQs
1. What is the value of Veerhealth's new export order?
Veerhealth Care Limited received a new export order valued at approximately ₹89 lakhs ($106,673).
2. Who placed the new export order with Veerhealth?
The order came from a top institutional supplier based in the United States of America.
3. What other export orders has Veerhealth recently secured?
Veerhealth also secured orders valued at $50,000 (₹41.50 lakhs) and $197,793 (₹165 lakhs), which are expected to be fulfilled by the end of July.
4. What does the new export order signify for Veerhealth?
It underscores Veerhealth's strong international presence and continued satisfaction among its institutional clients.
5. How did Mr. Bhavin Shah, the Managing Director, react to the new export order?
Mr. Bhavin Shah expressed delight, highlighting it as a significant milestone and a testament to the quality and reliability of Veerhealth's products.
6. What investments is Veerhealth planning to make as part of its growth strategy?
Veerhealth plans to invest ₹33 crores to expand operations, including establishing a larger plant in Vapi, Gujarat, compliant with US FDA and WHO standards.
7. What are Veerhealth's financial goals for the next 2 to 3 years?
Veerhealth aims to achieve a revenue milestone of ₹100 crores with a 10% profit after tax.
8. How did the stock market react to Veerhealth's announcement?
Share prices on the Bombay Stock Exchange (BSE) showed dynamic movement, opening at Rs. 23 and reaching Rs. 25 briefly before settling at Rs. 24 by the end of the day.
9. What was the trading volume during the market reaction?
At 9:28 AM, 1,87,755 shares were traded, indicating increased buying activity in response to the announcement.
10. What is the significance of the market reaction to Veerhealth's export order?
The market reaction reflects investor confidence and interest in Veerhealth's growth prospects following the announcement of the export order.
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