Multibagger penny stock under Rs 30: This micro-cap company secures significant export order from Top US Institutional Supplier worth USD 1,06,673
The stock is up by 85 per cent from its 52-week low of Rs 13.60 per share and a whopping 400 per cent in 3 years.
Today, shares of Veerhealth Care Ltd gained 12.96 per cent to Rs 24.92 per share from its previous closing of Rs 22.06 with an intraday high of Rs 25.20 and an intraday low of Rs 23.23. The stock’s 52-week high is Rs 30.10 and its 52-week low is Rs 13.60. The shares of the company saw a spurt in volume by more than 8.52 times on BSE.
Veerhealth Care Limited, a leading manufacturer of oral care & personal care products, announced that the company has executed & delivered an export order valued at USD 50,000 (approximately Rs 41.50 lakh), another export order valued at USD 197,793 (approximately Rs 165 lakh) which shall be fully executed and delivered by end of July. Now Company has received an additional export order worth USD 1,06,673 (approximately Rs 89 lakh), also company is expecting monthly repeat orders from the same Top US Institutional Supplier. In addition to this, the company is renovating its existing plant in Vapi, Gujarat to set up a bigger plant which will be US FDA & WHO-compliant.
This new order underscores the continued trust and satisfaction of company-valued international partners and marks a significant milestone in the company's growth trajectory. The order will be executed within three months, as stipulated by the terms of the purchase agreement. In February 2024, the company announced its ambitious expansion plans with a proposed investment of Rs 33 crore. This investment encompasses various aspects including the acquisition of land near its existing plant, construction of buildings, procurement of plant and machinery, and development of essential infrastructure. The company is expecting to reach Revenue of Rs 100 crore with a PAT of 10 per cent in the next 2 to 3 years.
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Veer Healthcare Ltd (formerly Niyati Leasing Ltd) is engaged in the business of trading, manufacturing and marketing research-based ayurvedic medicines. The company has a market cap of Rs 50 crore with a 3-year CAGR of 70 per cent.
According to the Quarterly Results, the net sales decreased by 10 per cent to Rs 3.37 crore in Q4FY24 compared to Q4FY23. The compared reported a net loss of Rs 0.55 crore in Q4FY24 compared to a net profit of Rs 1.04 crore in Q4FY23. In its annual results, the net sales decreased by 0.4 per cent to Rs 13.22 crore and the net profit decreased by 74.4 per cent to Rs 0.41 crore in FY24 compared to FY23.
The stock is up by 85 per cent from its 52-week low of Rs 13.60 per share and a whopping 400 per cent in 3 years. Investors should keep an eye on this micro-cap stock under the radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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