Cupid Limited reported a strong set of Q3 numbers. For the first nine months, the company reported a revenue of Rs 120 crore and margins of around 32 percent.

In an interview with CNBC-TV18, Om Garg, Chairman and Managing Director of Cupid, said the company would be able to report Rs 160 crore revenue for the full year and maintain current margins. The rise in revenues was backed by increased international demand.

“We expanded our production capacity by 40 percent this year. We are operating at 99 percent capacity utilisation right now and would look to increase capacity going forward," Garg noted.

“One element in the capacity utilisation is the percentage split between female and male condoms. Female condoms per unit are high priced and have better margins. So, even with the existing capacity, if we can increase the share of female condoms, our topline and bottom-line would improve,” Garg said.

Going forward, by end of FY20, Garg said that revenue split would be 50-50 between female and male condoms. “The margins are 15-20 percent EBITDA for male condoms and about 40-45 percent for female. So, there is a wide gap,” he added.

The firm is expecting a 30 percent increase in the overall orders from the international market.

First Published:Jan 20, 2020 12:34 PM IST