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Veerhealth Care Limited, an Indian manufacturer of oral care products, has received a new export order worth ₹0.34 crore ($40,111) from an existing institutional supplier in the United States. The company announced today that it has successfully manufactured and shipped orders totaling approximately ₹3 crore out of ₹4.50 crore in total export orders received to date.
The shares of Veerhealth Care Limited were trading flat at ₹23.98 on the BSE today at 11.25 am.
The Mumbai-based firm expects to complete the remaining shipments by October 30, 2024. Veerhealth Care is renovating its plant in Vapi, Gujarat, to comply with CGMP norms required by the US FDA, with operations slated to begin in early October 2024.
The company anticipates monthly orders of ₹1.50 crore and annual orders of ₹18 crore from this US supplier, potentially boosting its total revenues significantly. In FY24, Veerhealth Care reported total revenue of ₹14.61 crore and a profit before tax of ₹1.28 crore.
Managing Director Bhavin Shah said, “This achievement further reinforces our commitment to expanding our global footprint and delivering consistent value. We are fully focused on executing the remaining orders and ensuring timely shipments, which will contribute to our growth in the coming quarters.”
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