Multibagger penny stock under Rs 25: This micro-cap company receives further export order worth Rs 33,35,000 from United States of America (USA)
The stock is up by 75 per cent from its 52-week low of Rs 13.60 per share and a whopping 400 per cent in 3 years
On Friday, shares of Veerhealth Care Ltd plunged 0.42 per cent to Rs 23.81 per share from its previous closing of Rs 23.91 with an intraday high of Rs 25 and an intraday low of Rs 22.60. 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 1.52 times on BSE.
Veerhealth Care Limited, a leading manufacturer of oral care products, announced that it has secured an additional export order valued at approximately Rs 33,35,000 or USD 40,111 from a leading institutional supplier in the United States of America.
Till date, the Company has received total export orders amounting to approximately Rs 4.50 crore. The company has successfully manufactured and shipped orders worth approximately Rs 3 crore and balance orders are expected to be shipped by October 30, 2024.
The Company is renovating its existing plant in Vapi, Gujarat to set up a bigger plant which will be compliant with CGMP norms as required by the US FDA which is likely to be operational from 1st week of October 2024.
From this institutional supplier in the United States of America, the Company expects monthly orders worth Rs 1.50 crore and annual orders worth Rs 18 crore which can significantly boost the total revenues and PAT. This new order underscores the continued trust and satisfaction of the company's valued international partners and marks a significant milestone in the company's growth trajectory. The order will be executed within three months.
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In FY24, the company reported a total revenue of Rs 14.61 crore and a profit before tax of Rs 1.28 crore. 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.
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 47.62 crore with a 3-year CAGR of 75 per cent.
The stock is up by 75 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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