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SummaryLatest NewsSector ComparisonEarnings ReportRevenue & GrowthPeersIncome StatementBalance SheetCash Flow
CUPID logo

CUPID - Cupid Limited Share Price

Personal Products

₹422.85+2.80(+0.67%)
Market Closed as of Feb 6, 2026, 15:30 IST

Valuation

Market Cap11.35 kCr
Price/Earnings (Trailing)135.96
Price/Sales (Trailing)35.43
EV/EBITDA94.15
Price/Free Cashflow-220.99
MarketCap/EBT102.19
Enterprise Value11.2 kCr

Fundamentals

Growth & Returns

Price Change 1W5.4%
Price Change 1M-2.5%
Price Change 6M152.2%
Price Change 1Y458.2%
3Y Cumulative Return15.5%
5Y Cumulative Return13.8%
7Y Cumulative Return19.2%

Cash Flow & Liquidity

Revenue (TTM)
320.45 Cr
Rev. Growth (Yr)105.6%
Earnings (TTM)83.56 Cr
Earnings Growth (Yr)196.6%

Profitability

Operating Margin35%
EBT Margin35%
Return on Equity21.92%
Return on Assets18.89%
Free Cashflow Yield-0.45%
Cash Flow from Investing (TTM)44.91 Cr
Cash Flow from Operations (TTM)-11.37 Cr
Cash Flow from Financing (TTM)-1.46 Cr
Cash & Equivalents177.42 Cr
Free Cash Flow (TTM)-30.83 Cr
Free Cash Flow/Share (TTM)-1.15

Balance Sheet

Total Assets442.46 Cr
Total Liabilities61.01 Cr
Shareholder Equity381.18 Cr
Current Assets351.07 Cr
Current Liabilities49.1 Cr
Net PPE67.36 Cr
Inventory42.64 Cr
Goodwill0.00

Capital Structure & Leverage

Debt Ratio0.05
Debt/Equity0.05
Interest Coverage39.96
Interest/Cashflow Ops-3.65

Dividend & Shareholder Returns

Dividend Yield1.7%
Shares Dilution (1Y)0.00%
Shares Dilution (3Y)906.4%
Pros

Size: Market Cap wise it is among the top 20% companies of india.

Past Returns: In past three years, the stock has provided 15.5% return compared to 13.2% by NIFTY 50.

Balance Sheet: Strong Balance Sheet.

Profitability: Very strong Profitability. One year profit margin are 26%.

Growth: Awesome revenue growth! Revenue grew 54.1% over last year and 109.4% in last three years on TTM basis.

Cons

Dilution: Company has a tendency to dilute it's stock investors.

Smart Money: Smart money is losing interest in the stock.

Price to Sales Ratio

Latest reported: 35.4

Revenue (Last 12 mths)

Latest reported: 320.5 Cr

Net Income (Last 12 mths)

Latest reported: 83.6 Cr
Pros

Size: Market Cap wise it is among the top 20% companies of india.

Past Returns: In past three years, the stock has provided 15.5% return compared to 13.2% by NIFTY 50.

Balance Sheet: Strong Balance Sheet.

Profitability: Very strong Profitability. One year profit margin are 26%.

Growth: Awesome revenue growth! Revenue grew 54.1% over last year and 109.4% in last three years on TTM basis.

Cons

Dilution: Company has a tendency to dilute it's stock investors.

Smart Money: Smart money is losing interest in the stock.

Investor Care

Dividend Yield1.7%
Shares Dilution (1Y)0.00%
Earnings/Share (TTM)3.11

Financial Health

Current Ratio7.15
Debt/Equity0.05

Technical Indicators

RSI (14d)38.08
RSI (5d)83.43
RSI (21d)48.48
MACD SignalBuy
Stochastic Oscillator SignalHold
SharesGuru SignalBuy
RSI SignalHold
RSI5 SignalSell
RSI21 SignalHold
SMA 5 SignalBuy
SMA 10 SignalBuy
SMA 20 SignalBuy
SMA 50 SignalSell
SMA 100 SignalSell

Summary of Latest Earnings Report from Cupid

Summary of Cupid's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.

Management Outlook & Key Points:

Outlook:

  • Q4 FY24 Guidance: Projected revenue of Rs.50-55 crore, with female condom sales expected to rebound to ~Rs.21 crore post-lab equipment resolution in South Africa.
  • Capacity Expansion: 3-4 new condom dipping lines planned by end-2024, adding ~300 million male condom units to current 480 million capacity.
  • Acquisition Strategy: Raising Rs.385 crore via non-convertible warrants to fund strategic acquisitions (likely condom/IVD manufacturers) for product diversification (non-latex condoms) and faster global approvals.
  • US Market Entry: Targeting FDA approval for female condoms by FY26, pending USFDA requirements (e.g., US-based clinical trials).
  • Domestic Retail Push: Expanding B2C presence (1,000+ outlets), bundling products (e.g., deodorants), and targeting premiumization.

Major Points:

  • Q3 Performance: Revenue rose 16% QoQ to Rs.40 crore; net profit surged 73% QoQ. Female condom sales dropped to Rs.1 crore due to export delays.
  • Inventory: Stuck female condom inventory drove stockpile to Rs.23 crore (resolved in Q4).
  • Exports Dominance: 89% of Q3 sales were exports (UNFPA, governments); domestic sales (11%) include IVD kits.
  • Order Pipeline: Rs.80 crore order book (Rs.30 crore female condoms; Rs.50 crore male condoms) with new tenders expected from Brazil, South Africa, and India.
  • Margins: Targeting EBITDA margins >35% and PAT margins >25% via operational efficiency.
  • Product Diversification: Exploring polyisoprene/polyurethane condoms (non-latex) via acquisitions to tap premium markets.
  • Retail Growth: Focused on northern India; plans to scale distribution post-acquisition funding.

(Character count: 1,999)

Share Holdings

Understand Cupid ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.

Holding Pattern

Share Holding Details

Shareholder NameHolding %
ADITYA KUMAR HALWASIYA32.58%
COLUMBIA PETRO CHEM PRIVATE LIMITED12.98%
SETU SECURITIES PVT LTD3.53%
CLIFF TREXIM PRIVATE LIMITED3.15%
VEENA GARG2.64%
VAJRA MACHINERIES PRIVATE LIMITED1.6%
MAJESTIC COMMERCIAL PRIVATE LIMITED1.45%

Is Cupid Better than it's peers?

Detailed comparison of Cupid against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.

Ticker
Name
Mkt Cap
Revenue
Price %, 1M
Returns, 1Y
P/E
P/S
Rev 1-Yr
Inc 1-Yr
MANKINDMankind Pharma85.05 kCr14.34 kCr-10.90%-16.90%47.875.93--
AJANTPHARMAjanta Pharma35.64 kCr5.33 kCr

What does Cupid Limited do?

Personal Care•Fast Moving Consumer Goods•Small Cap

Cupid Limited designs, manufactures, markets, and exports male and female condoms in India. The company offers water based lubricant jellies; in vitro diagnostic kits, including rapid diagnostic, viral transport medium, typhoid antibody, syphilis antibody, HIV 1 and 2 kit antibody, dengue IgG/IgM Antibody, malaria Pf-Pv and Pf-PAN antigen, hepatitis B (HbsAg) antigen, hepatitis C (HCV) antibody, pregnancy hCG detection, LH ovulation rapid, and dengue NS1 test; and deodorant and pocket perfumes. It also exports its products to countries in Africa, Europe, Ocenia, Asia, North America, and South America. The company was formerly known as Cupid Condom Limited and changed its name to Cupid Limited in January 2006. The company was incorporated in 1993 and is based in Nashik, India.

Industry Group:Personal Products
Employees:169
Website:www.cupidlimited.com

Important Disclosure & Data Context

This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.

The Good, Bad and Ugly
Growth
Measures how quickly a company is expanding through metrics like revenue growth, earnings growth, and cash flow growth over time. Strong growth can indicate future potential.
Profitability
Shows how efficiently a company turns business activities into profit, using metrics like profit margins, return on equity (ROE), and return on assets (ROA).
Size
Indicates the company's market presence through metrics like market capitalization, total assets, and revenue. Size can influence stability and market influence.
Dilution Rank
Tracks how much the company's shares have increased or decreased over time. Lower dilution means existing shareholders maintain stronger ownership stakes.
Balance Sheet
Evaluates the company's financial health by analyzing assets, debts, and equity. A strong balance sheet indicates financial stability and flexibility.
Momentum
Measures the strength and speed of price movements, showing whether the stock is gaining or losing market favor over different time periods.
Technicals
Analyzes price patterns, trading volumes, and other market indicators to identify potential trading opportunities and market trends.
Smart Money
Tracks the investment activities of institutional investors, hedge funds, and other large financial players who often have deep research capabilities.
Insider Trading
Monitors buying and selling of company shares by executives, directors, and other insiders who may have unique insights into the company's prospects.
Sharesguru Stock Score

CUPID

24/100

Question 1:
"My question is regarding the warrants which you have issued to the FIIs around Rs. 385 crores. As you have already highlighted that you don't need any money outside, whatever money which is there in the balance sheet is sufficient for expansion of the new facility. So would like to know exactly what's the purpose of raising this Rs. 385 crores. I mean you would be saying that for future need and all that but I would like to know the exact reason for this. Any acquisition you are planning or anything else?"
Answer:
The funds will partially address working capital needs but primarily finance strategic acquisitions in condoms (polyisoprene/polyurethane variants) and IVDs. The goal is to expand product lines, secure faster regulatory approvals, and enhance manufacturing capabilities. Acquisitions are expected within 18 months, targeting companies with existing infrastructure or approvals.

Question 2:
"What is the current order book of the company and can you please split it out in terms of domestic and international market?"
Answer:
The order book stands at Rs. 80 crores, with 85"“90% from international markets (including female condom orders from South Africa/Brazil and male condoms for UNFPA) and 10"“15% domestic (primarily male condoms and IVD kits). Deliveries are expected over the next 12 months.

Question 3:
"What is your competitor profile for IVD?"
Answer:
Cupid's IVD segment focuses on 8 test kits, including malaria and pregnancy (Cupisure). Clinical trials and CE/WHO certifications for malaria kits are underway, with domestic tender participation expected by mid-2024 and global orders (Africa/Latin America) targeted post-2025 after approvals.

Question 4:
"What is the current order book of the company and can you please split it out in terms of domestic and international market?"
Answer:
The order book stands at Rs. 80 crores, with 85"“90% from international markets (including female condom orders from South Africa/Brazil and male condoms for UNFPA) and 10"“15% domestic (primarily male condoms and IVD kits). Deliveries are expected over the next 12 months.

Question 5:
"Quantified in revenue and profitability terms, what are we expecting from the capacity expansion announced by the company in December?"
Answer:
Post-expansion, Cupid projects revenue of $400 million (Rs.3,200 crores) and EBITDA exceeding $100 million (Rs.800 crores). This includes new condom lines (300 million units added to 480 million existing capacity) and leveraging acquisitions for premium product diversification.

RADHARANI SALES PRIVATE LIMITED1.34%
GARG BROTHERS PRIVATE LIMITED1.3%
HIGHPOINT COMMERCIAL PRIVATE LIMITED1.27%
AJAY KUMAR HALWASIYA0%
JAIDEEP HALWASIYA0%
EKTA HALWASIYA0%
ANKITA JAIN HALWASIYA0%
Universal Petrochemicals Limited0%
Adar Hotels Private Limited0%
ABDULMUHSIN SUHNI0%

Overall Distribution

Distribution across major stakeholders

Ownership Distribution

Distribution across major institutional holders

0.00%
+5.70%
35.14
6.69
-
-
PFIZERPfizer21 kCr2.57 kCr-6.90%+4.00%25.028.17--

Income Statement for Cupid

Consolidated figures (in Rs. Crores) /
Description(%) Q/QMar-2025Mar-2024Mar-2023Mar-2022Mar-2021Mar-2020
Revenue From Operations-184-----
Other Income-20-----
Total Income-203-----
Cost of Materials-68-----
Purchases of stock-in-trade-20-----
Employee Expense-29-----
Finance costs-2.05-----
Depreciation and Amortization-4.48-----
Other expenses-45-----
Total Expenses-148-----
Profit Before exceptional items and Tax-55-----
Total profit before tax-55-----
Current tax-14-----
Deferred tax--0.01-----
Total tax-14-----
Total profit (loss) for period-41-----
Other comp. income net of taxes--1.43-----
Total Comprehensive Income-39-----
Earnings Per Share, Basic-1.52-----
Earnings Per Share, Diluted-1.51-----
Description(%) Q/QDec-2025Sep-2025Jun-2025Mar-2025Dec-2024Sep-2024
Revenue From Operations12%9484605646-
Other Income109.2%115.784.944.634.41-
Total Income15.7%10490656151-
Cost of Materials-9.5%2022162218-
Purchases of stock-in-trade122.2%21108.385.629.66-
Employee Expense2%8.027.887.118.557.66-
Finance costs-30%0.610.70.620.780.41-
Depreciation and Amortization0%1.31.31.241.261.29-
Other expenses15.4%1614121411-
Total Expenses5.3%61
Standalone figures (in Rs. Crores) /
Description(%) Q/QMar-2025Mar-2024Mar-2023Mar-2022Mar-2021Mar-2020
Revenue From Operations7.6%184171159133144161
Other Income205.5%207.224.774.315.173.39
Total Income14.1%203178164137149165
Cost of Materials21.8%685666634950
Purchases of stock-in-trade-2000000
Employee Expense86.7%

Balance Sheet for Cupid

Consolidated figures (in Rs. Crores) /
Description(%) Q/QSep-2025Mar-2025Sep-2024Mar-2024Sep-2023Mar-2023
Cash and cash equivalents203.4%17759----
Current investments-101.2%087----
Loans, current-70.6%0.130.49----
Total current financial assets22.6%294240----
Inventories2.4%4342----
Total current assets24.6%351282----
Property, plant and equipment0%6767----
Capital work-in-progress36.8%8.516.49----
Non-current investments-20%1316----
Total non-current financial assets-12.5%1517----
Total non-current assets1.1%9190----
Total assets18.9%442372----
Borrowings, non-current-4.940----
Total non-current financial liabilities-4.940----
Provisions, non-current-16.3%2.282.53----
Total non-current liabilities48.8%128.39----
Borrowings, current25%1613----
Total current financial liabilities133.3%3616----
Provisions, current-1.021----
Current tax liabilities2776.5%5.891.17----
Total current liabilities140%4921----
Total liabilities106.9%6130----
Equity share capital0%2727----
Total equity11.4%381342----
Total equity and liabilities18.9%442372----
Standalone figures (in Rs. Crores) /
Description(%) Q/QSep-2025Mar-2025Sep-2024Mar-2024Sep-2023Mar-2023
Cash and cash equivalents203.4%1775952270.840.3
Current investments-101.2%0871191356669
Loans, current-74.5%0.180.530.490.180.680.62
Total current financial assets23%295240242246141126
Inventories2.4%434223162719
Total current assets24.6%351282277262176153
Property, plant and equipment0%676766583636
Capital work-in-progress

Cash Flow for Cupid

Consolidated figures (in Rs. Crores) /
Finance costs-
Change in inventories-
Depreciation-
Impairment loss / reversal-
Adjustments for interest income-
Share-based payments-
Net Cashflows from Operations-
Income taxes paid (refund)-
Net Cashflows From Operating Activities-
Purchase of property, plant and equipment-
Interest received-
Other inflows (outflows) of cash-
Net Cashflows From Investing Activities-
Proceeds from exercise of stock options-
Proceeds from borrowings-
Interest paid-
Net Cashflows from Financing Activities-
Net change in cash and cash eq.-
Standalone figures (in Rs. Crores) /
Description(%) Q/QMar-2025Mar-2024Mar-2023Mar-2022Mar-2021Mar-2020
Finance costs29.6%2.051.810.790.13--
Change in inventories-1202.9%-26.023.45-1.25-4.06--
Depreciation80.3%4.482.932.972.65--
Impairment loss / reversal-1.55000--
Adjustments for interest income309.8%164.664.142.96--
Share-based payments160.6%1.430.290.810--
Net Cashflows from Operations-94.2%2.16214419--
Income taxes paid (refund)

Sharesguru Stock Score

CUPID

24/100
58
45
45
37
-
Profit Before exceptional items and Tax35.5%4332201614-
Total profit before tax35.5%4332201614-
Current tax16.5%9.117.965.124.593.03-
Deferred tax136.7%1.330.1-0.58-0.1-0.02-
Total tax27.5%108.064.544.493.01-
Total profit (loss) for period39.1%3324151211-
Other comp. income net of taxes18%0-0.220-1.180-
Total Comprehensive Income39.1%3324151011-
Earnings Per Share, Basic320%1.220.90.560.430.411-
Earnings Per Share, Diluted300%1.220.890.550.420.41-
29
16
14
11
10
8.74
Finance costs29.6%2.051.810.790.130.390.53
Depreciation and Amortization80.3%4.482.932.972.652.62.5
Other expenses0%454539374758
Total Expenses17.6%148126122113111112
Profit Before exceptional items and Tax3.8%555342253853
Total profit before tax3.8%555342253853
Current tax8.3%1413107.099.9113
Deferred tax-17.4%-0.010.140.520.15-0.69-0.21
Total tax8.3%1413117.249.2213
Total profit (loss) for period2.6%414032172940
Other comp. income net of taxes-64.2%-1.43-0.48-0.120.06-0.26-0.25
Total Comprehensive Income2.6%403931172940
Earnings Per Share, Basic6.1%1.521.4911.846.47510.86514.935
Earnings Per Share, Diluted5.2%1.511.48511.7856.47510.86514.935
Description(%) Q/QDec-2025Sep-2025Jun-2025Mar-2025Dec-2024Sep-2024
Revenue From Operations12%948460564642
Other Income109.2%115.784.944.634.415.73
Total Income15.7%1049065615147
Cost of Materials-9.5%202216221816
Purchases of stock-in-trade122.2%21108.385.629.662.4
Employee Expense2%8.027.887.118.557.666.67
Finance costs-30%0.610.70.620.780.410.64
Depreciation and Amortization0%1.31.31.241.261.291.17
Other expenses15.4%16141213108.83
Total Expenses5.3%615845453733
Profit Before exceptional items and Tax35.5%433220161414
Total profit before tax35.5%433220161414
Current tax16.5%9.117.965.124.593.033.75
Deferred tax136.7%1.330.1-0.58-0.1-0.020.42
Total tax27.5%108.064.544.493.014.16
Total profit (loss) for period39.1%332415121110
Other comp. income net of taxes18%0-0.220-1.180-0.25
Total Comprehensive Income39.1%33241510119.79
Earnings Per Share, Basic320%1.220.90.560.430.4130.37
Earnings Per Share, Diluted300%1.220.890.550.420.4110.37
36.8%
8.51
6.49
0.42
0
0
0
Non-current investments-13.3%141612000
Total non-current financial assets-12.5%151712000
Total non-current assets1.1%919082583636
Total assets18.9%442372359320212189
Borrowings, non-current-4.9400000
Total non-current financial liabilities-4.9400000
Provisions, non-current-16.3%2.282.530.230.3200.21
Total non-current liabilities48.8%128.397.831.650.431.55
Borrowings, current25%16139.04129.365.97
Total current financial liabilities118.8%361723153517
Provisions, current-1.0210.561.11.280.54
Current tax liabilities2776.5%5.891.175.66000.31
Total current liabilities140%492130174020
Total liabilities106.9%613038194122
Equity share capital0%272727131313
Total equity11.4%381342321301171167
Total equity and liabilities18.9%442372359320212189
0%
13
13
11
8.82
-
-
Net Cashflows From Operating Activities-277.5%-11.147.843310--
Cashflows used in obtaining control of subsidiaries-0.23000--
Proceeds from sales of PPE-000.040--
Purchase of property, plant and equipment-79.5%19892.548.64--
Interest received309.8%164.664.142.96--
Other inflows (outflows) of cash1133.9%494.89-23.5-7.82--
Net Cashflows From Investing Activities154.4%45-79.84-21.86-13.49--
Proceeds from issuing other equity instruments-101%09800--
Proceeds from exercise of stock options-0.01000--
Proceeds from borrowings-108.3%0.586.0808.8--
Repayments of borrowings-002.820--
Dividends paid-133.3%047.346--
Interest paid29.6%2.051.810.790.13--
Net Cashflows from Financing Activities-102.5%-1.4699-10.952.66--
Net change in cash and cash eq.19.2%3227-0.1-0.59--

Revenue Breakdown

Analysis of Cupid's financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.

No revenue data available.