Shares of this penny stock with multibagger returns jumped up to 3 percent on Wednesday after the company secured an order worth Rs 17 lakhs from an international Entity based in North West Africa for the manufacture and supply of a recently added toothpaste brand.
With a market capitalization of Rs 36.38 crores, the stocks of Veerhealth Care Limited opened their trading hour on Wednesday at Rs 18.50 and closed at Rs 18.19 apiece. The scrip witnessed an intra-day high of Rs 18.50 exhibiting a gain of around 3 percent compared to the previous closing levels of Rs 18.03.
The company, via a recent filing with the Bombay Stock Exchange (BSE), intimated that it has received an order from ‘F & G Branding Co’ worth Rs 17 lakhs for manufacturing and supplying “Caloral”, a toothpaste brand recently added by the company in the ‘oral care’ segment for the Morocco market.
The company expects a growth in its turnover with this new order. The order mentioned above is decided to be executed within 30 days from the date of the contract.
During the recent financial years, the company posted an increase in its operating revenues from Rs 9.63 crores during FY21-22 to Rs 13.27 crores during FY22-23. In addition, the net profit figures transitioned from losses of Rs 10 lakhs to profits of Rs 1.58 crores.
As per the shareholding data released, the company’s Promoters hold a 30.76 percent stake followed by the Public (retail) Investors holding the remaining 69.24 percent stake in the company.
Keeping a purview of one year, the company’s stock has delivered multibagger returns of 112 percent to its shareholders, viz, an investment of Rs 1 lakh a year ago would have converted to Rs 2.12 lakhs now.
Incorporated in 1992, Veerhealth Care Limited is a pharmaceutical company based in India that is engaged in the business of trading, manufacturing, and marketing of research-based Ayurvedic medicines. The company operates with a sole business segment, viz, ‘Ayurved Pharma Products’.
Written by Amit Madnani
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