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.