Veerhealth Care Ltd approved issue of Bonus Equity shares in the ratio of 1:1

The 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.

Veerhealth Care Ltd engaged in the business of ayurvedic, herbal and personal care products has approved the issue of bonus equity shares in the ratio of 1:1 i.e. 1 fully paid-up equity share for every 1 equity share held as of record date. For Q1FY24 total income grew 28% Y-o-Y and Net Profit grow 294% Y-o-Y. The company has successfully turnaround its business operations in FY23.

The board has also approved to increase the authorised share capital of the company to Rs. 31 crore from Rs. 21 crore and consequent alteration in the Memorandum of Association. The company board also decided to convene the 31st AGM on September 11, 2023.

The company has successfully turnaround the business operations in FY23 and is ready for the next phase of growth and a quantum jump in revenue and profits. The company is progressing well on its long-term growth roadmap and expects to complete its expansion plans very soon. The company's "Ayuveer" brand is getting good traction in the domestic and export markets and the company is planning to launch many innovative products in time to come.

The 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. "Ayuveer" and the e-commerce platform are getting strong traction in the domestic and export markets; Started exports to the USA and South Africa. The company's client includes Dava India, Gracious Pharma, Babuline Pharma, Graciera Pharma etc Company has a strong product portfolio of over 100 Herbal and Ayurvedic Products in Skincare, Bodycare, Haircare, Oralcare, Healthcare and Fragrance.

It 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. It has recently signed a contract to supply a "WHIDENT" range of toothpaste to North West African countries including Morocco, Casablanca etc. The move is part of the company's expansion plans to expand its presence in the export market and increase export sales. The company has already been successfully manufacturing and exporting various types of toothpaste to East African countries.

In the month of March 2023, the company completed a preferential allotment of 30.65 lakh equity shares of Rs. 10 each at Rs. 19.25 per share including a premium of Rs. 9.25 per share amounting to Rs. 5.90 crore. The funds are being utilised for the expansion of the company's manufacturing facilities, new product launches and install new manufacturing lines. 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 practitioner for 30 years and Dr Rajiv Bhirud, an expert in formulations of cosmetic and personal care products.

It wishes to inspire every brand to get their products to follow Make In India. Veerhealth has carefully curated every product to make sure that only the best reaches its customers. It aims to provide you with excellent customer service, hassle-free purchases and timely deliveries.