Veerhealth Care expects a turnover of Rs 100 crore in the next 2-3 years
In FY24, the company reported total revenue of Rs 14.61 crore and profit before tax of Rs 1.28 crore. (Representational Image)
Veerhealth Care on Monday said it expects to achieve a turnover of Rs 100 crore in the next 2-3 years.
In a statement, the company said it has executed and delivered an export order worth $50,000 (approximately Rs 41.50 lakh). In addition, another export order worth $197,793 (approximately Rs 165 lakh) is scheduled to be fully executed and delivered by the end of July.
According to the statement, the company has also received an additional export order worth $106,673 (approximately Rs 89 lakh) from a major US institutional supplier.
The assignment will be completed within three months, as set out in the terms of the purchase agreement.
The company further indicated that it expects monthly repeat orders from the same top supplier in the US.
In addition, the company said it is renovating its existing manufacturing facility in Vapi, Gujarat, to set up a larger facility that meets US FDA and WHO standards.
In February 2024, the company announced its expansion plans with a proposed investment of Rs 33 crore.
In FY24, the company reported total revenue of Rs 14.61 crore and pre-tax profit of Rs 1.28 crore.
Bhavin Shah, Managing Director, Veerhealth Care said, “This additional export order from a leading institutional supplier in the United States is a testament to the quality and reliability of our products. It reflects the confidence and satisfaction that our international partners have in our capabilities.” VeerHealth Care Ltd (BSE 511523) is engaged in manufacturing and supplying Ayurvedic Medicines, Oral Care and Personal Care products.
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First print: Jul 15, 2024 | 12:06 PM IST