Cupid Limited has acquired a land parcel in an industrial area near Mumbai to expand its production capacity by 1.5 times the existing output. The capacity expansion will be funded entirely through internal accruals, with no reliance on borrowings.
Managing Director Aditya Halwasiya said, “This expansion is expected to add ₹240 crore to our revenues and ₹70 crore to our EBITDA.”
In addition, Cupid is set to expand its global footprint by forging new partnerships with international players.
The company’s stock stood at ₹904.50, up by 0.73 per cent on the NSE at 9:20 am on Wednesday.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.