Multibagger in just 1 year; Board announces bonus shares after reporting a 277 pump in net profit!
The stock gave multibagger returns of 300 per cent in just 1 year whereas BSE Sensex Index is up by 7.71 per cent.
Veerhealth Care Ltd will issue bonus shares to its shareholders in the ratio of 1:1. This means that for every 1 equity share held, shareholders will receive 1 bonus share. The bonus shares will be issued out of the company's reserves and will be fully paid up. The record date for the bonus shares will be determined by the board of directors.
According to the Quarterly Results, the net sales increased by 26 per cent to Rs 3.58 crore, the operating profit increased by 105 per cent to Rs 0.43 crore and the net profit skyrocketed 277 per cent to Rs 0.34 crore in Q1FY24 compared to Q1FY23.
According to the annual results, the net sales increased by 38 per cent to Rs 13.27 crore, the operating profit increased by 161 per cent to Rs 0.50 crore and the net profit skyrocketed 2,357 per cent to Rs 1.58 crore in FY23 compared to FY22.
Earlier, the company signed a contract to supply "WHIDENT" range of toothpaste to Casablanca, Morocco (North West Africa) as a part of its expansion plan. The company has already been successfully manufacturing and exporting various types of toothpaste to East African countries. The company is expecting additional growth in sales in the current Financial Year with the new contract of supply & additional profit.
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Veer Healthcare Ltd (formerly Niyati Leasing Ltd) is engaged in the business of trading and manufacturing and marketing research based ayurvedic medicines. The company has a market cap of Rs 41.76 crore with a 3-year CAGR of 75 per cent.
On Friday, shares of the company were trading at Rs 41.76 per share, up 0.07 per cent with an intraday high of Rs 42.80 and an intraday low of Rs 40.20.
The stock gave multibagger returns of 300 per cent in just 1 year whereas BSE Sensex Index is up by 7.71 per cent. 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.