I don’t know if that’s such a positive news.
Whenever we brought up the topic of Domestic Expansion with Mr. Garg in concalls, the response was always the same – that Indian Condoms Market has a lot of competition and hence Margins are paper thin. There was some value in operating as a Contract Manufacturer for existing players, which I believe Cupid was already doing.
I assume things haven’t change much now to warrant a foray into the Indian market as a competitor.
I guess we’ll have to see who is right – Mr. Garg or Mr. Halwasiya (Only on the matter to expanding into Indian market).
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