Net Profit up 294%, Total Income up 28% in Q1FY24
Ahmedabad (Gujarat) [India], August 17: Veerhealth Care Ltd – engaged in the business of ayurvedic, herbal and personal care products has approved issue of bonus equity shares in the ratio of 1:1 i.e 1 fully paid up equity share for every 1 equity share held as on record date. For Q1FY24 total income grew 28% Y-o-Y and Net Profit grow 294% Y-o-Y. Company has successfully turnaround its business operations in FY23. The board has also approved to increase the authorised share capital of the company to Rs. 31 crore from Rs. 21 crore and consequent alteration in the Memorandum of Association. The company board also decided to convene 31st AGM on September 11, 2023.
Company has successfully turnaround the business operations in FY23 and ready for the next phase of growth and quantum jump in the revenue and profits. Company is progressing well on its long-term growth roadmap and expect to complete its expansion plans very soon. Company’s ‘Ayuveer’ brand is getting good traction in the domestic and export markets and company is planning to launch many innovative product in time to come.
Highlights:-
- Company has a strong product portfolio of over 100 Herbal and Ayurvedic Products in Skincare, Bodycare, Haircare, Oralcare, Healthcare and Fragrance
- Company has successfully completed Rs. 5.9 crore preferential issue of 30.65 lakh shares at Rs 19.25 per share to fund its expansion plans
- Company’s brand ‘Ayuveer’ and e-commerce platform is getting strong traction in the domestic and export markets; Started exports to USA and South Africa
- Company’s client includes Dava India, Gracious Pharma, Babuline Pharma, Graciera Pharma etc
Company has a strong product portfolio of over 100 Herbal and Ayurvedic Products in Skincare, Bodycare, Haircare, Oralcare, Healthcare and Fragrance. Company’s brand ‘Ayuveer’ and its e-commerce platform is getting strong traction in the domestic and export markets; Started exports to USA and South Africa. Company’s client includes Dava India, Gracious Pharma, Babuline Pharma, Graciera Pharma etc. Company has a vision to become a leading provider of health care and personal care products by making available research-based quality products to meet the varied health needs of customers.
Company has recently signed contract to supply “WHIDENT” range of toothpaste to North West African countries including Morocco, Casablanca etc. The move is part of company’s expansion plans to expand its presence in the export market and increase export sales. Company has already been successfully manufacturing and exporting various types of toothpaste to East African countries.
In the month of March 2023, company completed preferential allotment of 30.65 lakh equity shares of Rs. 10 each at Rs. 19.25 per share including premium of Rs. 9.25 per share amounting Rs. 5.90 crore. The funds are being utilised for the expansion of company’s manufacturing facilities, new product launches and install new manufacturing lines.
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.
Ayurveer – Story
Ayuveer has been created from the founder’s passion for authentic products. The team is committed to bring supreme quality of products to you and your family.
Ayuveer is not only about a business, but it is an endeavour to make every home cruelty free. Company wish to inspire every brand to get their products to follow Make In India.
Company has carefully curated every product to make sure that only the best reaches to its customers. Company aim to provide you with excellent customer service, hassle free purchases and timely deliveries.
If you have any objection to this press release content, kindly contact [email protected] to notify us. We will respond and rectify the situation in the next 24 hours.
