Gujarat (India), May 30: Veerhealth Care Ltd – engaged in the business of ayurvedic, herbal and personal care products has successfully turnaround its business operations in FY23. Company has reported net profit of Rs. 1.58 crore and revenue from operations of Rs 13.27 crore in FY23. Company also successfully completed preferential issue of Rs. 5.90 crore to fund its expansion plans.
For FY23, company reported revenues of Rs. 13.27 crore, 38% growth YOY as against revenue of Rs. 9.62 crore in FY22. Company reported net profit of Rs. 1.58 crore in FY23 as against loss of Rs. 9.6 lakh in FY22. EPS for FY23 was Rs. 1.52 per share.
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.
During Q4FY23, revenues of the company reported 85% growth to Rs. 3.73 crore as against revenue of Rs. 2.01 crore in Q4FY22. Company posted net profit of Rs. 1.04 crore during Q4FY23 as against loss of Rs. 34.81 lakh in Q4FY22.
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 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 completed 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. Company expect the growth momentum to continue and expect to get further boost in coming years.
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
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.
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.
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.
