Aditya Kumar Halwasiya, a key promoter of the consumer wellness firm Cupid, has made a substantial investment of nearly ₹163 crore in Baazar Style Retail Ltd. This significant block deal, executed on Monday, involved Halwasiya purchasing 4.5 million shares of the value fashion and lifestyle retailer.
The transaction, valued at ₹362 per share, saw Baazar Style Retail's stock hit its 5% upper circuit limit for the third consecutive session on Tuesday, reflecting strong investor confidence. The total value of Halwasiya's acquisition amounted to ₹162.90 crore.
Promoters Adjust Holdings in Baazar Style Retail
The block deal also involved other promoters of Baazar Style Retail adjusting their holdings. Bhagwan Prasad sold 1.5 million shares at the same price, while Shreyans Surana and Sidharth Surana offloaded 2.1 million and 0.9 million shares, respectively, also at ₹362 apiece. This strategic move by Cupid's promoter into Baazar Style Retail, a company with a strong presence across eastern India, has garnered considerable market attention.
Cupid's Strong Performance and Future Outlook
Despite the news of Halwasiya's investment, Cupid's shares experienced a slight dip of 1.88% to ₹262.30 on Tuesday. However, the company has demonstrated robust financial performance over the past year, with its stock yielding a remarkable 664.18% return.
Cupid, known for its consumer healthcare and personal care products, recently updated its financial guidance for FY27. The company now anticipates revenue in the range of ₹725-750 crore and a profit between ₹210-225 crore. This optimistic outlook is underpinned by a healthy order book, sustained growth in its international B2B healthcare segment, and continued expansion of its Consumer Healthcare and FMCG portfolios.
Robust June Quarter Results
For the June quarter, Cupid reported impressive results, with its net profit soaring by 194% year-over-year to ₹44.15 crore, up from ₹15.01 crore in the prior-year period. Total income also saw a substantial increase of 142% to ₹156.98 crore, compared to ₹64.75 crore in the same quarter last year.
Furthermore, the company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) surged by 265% year-over-year to ₹60.06 crore, while the EBITDA margin expanded by 1,127 basis points, reaching 39%. These figures highlight Cupid's operational efficiency and strong growth trajectory, providing a positive backdrop to its promoter's latest investment.