Veerhealth Care Projects Rs 100 Crore Revenue Ambition, Secures Major US Orders

Veerhealth Care anticipates reaching Rs 100 crore revenue in the next 2-3 years. It has secured multiple export orders, including significant contracts from a top US supplier, and plans to expand its facilities to meet US FDA and WHO compliance. The company also announced an investment of Rs 33 crore for plant renovation.

Veerhealth Care on Monday said it is expecting to reach revenue of Rs 100 crore in the next 2 to 3 years.

In a statement, the company disclosed that it has executed and completed an export order valued at USD 50,000 (approximately Rs 41.50 lakh). Furthermore, another export order amounting to USD 197,793 (approximately Rs 165 lakh) is slated for full execution and delivery by the end of July.

Additionally, the company has secured an extra export order worth USD 106,673 (about Rs 89 lakh) from a top US Institutional Supplier. This order is expected to be fulfilled within three months, as per the purchase agreement.

The company also revealed it is expecting monthly repeat orders from the same top US Institutional Supplier.

Moreover, Veerhealth Care announced plans to renovate its existing plant in Vapi, Gujarat, to establish a larger facility that will comply with US FDA and WHO regulations. In February 2024, an investment of Rs 33 crore has been earmarked for this expansion.

In FY24, Veerhealth Care reported a total revenue of Rs 14.61 crore and a profit before tax of Rs 1.28 crore. Bhavin Shah, Managing Director, commented, ''This additional export order from a top institutional supplier in the United States is a testament to the quality and reliability of our products. It reflects the trust and satisfaction our international partners have in our capabilities.''

(With inputs from agencies.)