Cupid Ltd
Established in 1993, CUPID Limited is India's premier manufacturer of male and female condoms, personal lubricant, and IVD kits.[1]
- Market Cap ₹ 35,634 Cr.
- Current Price ₹ 265
- High / Low ₹ 299 / 41.8
- Stock P/E 259
- Book Value ₹ 3.35
- Dividend Yield 0.00 %
- ROCE 33.9 %
- ROE 27.6 %
- Face Value ₹ 1.00
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 31.3% CAGR over last 5 years
- Company's working capital requirements have reduced from 150 days to 119 days
Cons
- Stock is trading at 79.0 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 44 | 61 | 84 | 81 | 85 | 160 | 143 | 133 | 159 | 172 | 183 | 358 | 484 | |
| 32 | 36 | 50 | 53 | 65 | 108 | 107 | 109 | 118 | 121 | 141 | 239 | 292 | |
| Operating Profit | 13 | 25 | 34 | 27 | 21 | 52 | 36 | 23 | 41 | 51 | 42 | 119 | 191 |
| OPM % | 29% | 41% | 41% | 34% | 24% | 33% | 25% | 17% | 26% | 30% | 23% | 33% | 40% |
| 1 | 2 | 1 | 1 | 2 | 3 | 5 | 4 | 5 | 7 | 19 | 32 | 0 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 1 | 2 | 2 | 3 | 3 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 4 | 5 | 5 |
| Profit before tax | 11 | 25 | 32 | 26 | 21 | 53 | 38 | 25 | 42 | 53 | 55 | 142 | 183 |
| Tax % | 33% | 36% | 37% | 34% | 27% | 24% | 24% | 30% | 25% | 24% | 25% | 24% | |
| 8 | 16 | 21 | 17 | 15 | 40 | 29 | 17 | 32 | 40 | 41 | 108 | 137 | |
| EPS in Rs | 0.06 | 0.12 | 0.15 | 0.13 | 0.11 | 0.30 | 0.22 | 0.13 | 0.24 | 0.30 | 0.30 | 0.81 | 1.02 |
| Dividend Payout % | 22% | 21% | 22% | 29% | 35% | 15% | 21% | 35% | 21% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 19% |
| 5 Years: | 20% |
| 3 Years: | 31% |
| TTM: | 116% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 21% |
| 5 Years: | 31% |
| 3 Years: | 52% |
| TTM: | 188% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 59% |
| 5 Years: | 159% |
| 3 Years: | 308% |
| 1 Year: | 517% |
| Return on Equity | |
|---|---|
| 10 Years: | 22% |
| 5 Years: | 19% |
| 3 Years: | 20% |
| Last Year: | 28% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 11 | 11 | 11 | 11 | 13 | 13 | 13 | 13 | 13 | 13 | 27 | 134 |
| Reserves | 13 | 25 | 43 | 55 | 63 | 90 | 118 | 129 | 154 | 288 | 315 | 316 |
| 2 | 1 | 0 | 2 | 2 | 31 | 0 | 9 | 6 | 12 | 19 | 56 | |
| 8 | 14 | 9 | 10 | 15 | 30 | 22 | 23 | 16 | 7 | 11 | 46 | |
| Total Liabilities | 35 | 51 | 63 | 78 | 93 | 165 | 152 | 174 | 189 | 320 | 372 | 553 |
| 16 | 16 | 16 | 16 | 21 | 26 | 29 | 31 | 36 | 58 | 67 | 67 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 3 | 1 | 6 | 0 | 0 | 6 | 25 |
| Investments | 0 | 0 | 5 | 18 | 22 | 21 | 48 | 54 | 69 | 147 | 103 | 75 |
| 19 | 35 | 42 | 44 | 50 | 114 | 74 | 84 | 83 | 114 | 196 | 386 | |
| Total Assets | 35 | 51 | 63 | 78 | 93 | 165 | 152 | 174 | 189 | 320 | 372 | 553 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 7 | 13 | 20 | 3 | 18 | 19 | 42 | 10 | 33 | 8 | -11 | 46 | |
| -1 | -1 | -5 | -9 | -14 | -37 | -9 | -13 | -22 | -80 | 45 | 28 | |
| -3 | -6 | -4 | -3 | -5 | 16 | -33 | 3 | -11 | 99 | -1 | 35 | |
| Net Cash Flow | 3 | 6 | 11 | -9 | -0 | -2 | 0 | -1 | -0 | 27 | 32 | 110 |
| Free Cash Flow | 6 | 11 | 17 | 1 | 12 | 8 | 38 | 2 | 30 | -17 | -31 | 21 |
| CFO/OP | 69% | 76% | 94% | 50% | 119% | 60% | 142% | 83% | 106% | 41% | 5% | 66% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 67 | 79 | 59 | 100 | 97 | 95 | 65 | 84 | 59 | 102 | 134 | 103 |
| Inventory Days | 155 | 60 | 133 | 259 | 168 | 437 | 230 | 197 | 229 | 184 | 450 | 350 |
| Days Payable | 84 | 27 | 80 | 162 | 135 | 579 | 168 | 134 | 105 | 1 | 13 | 153 |
| Cash Conversion Cycle | 139 | 112 | 112 | 198 | 130 | -46 | 127 | 147 | 183 | 285 | 570 | 301 |
| Working Capital Days | 58 | 77 | 67 | 130 | 108 | 40 | 87 | 87 | 77 | 123 | 210 | 119 |
| ROCE % | 48% | 79% | 72% | 43% | 29% | 50% | 28% | 17% | 26% | 22% | 17% | 34% |
Insights
In beta| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Installed Capacity - Female Condoms Mn pieces/year |
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| Installed Capacity - Male Condoms Mn pieces/year |
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| Number of Export Countries countries |
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| Sale Volume - Female Condoms Mn pieces |
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| Sale Volume - Male Condoms Mn pieces |
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| Number of Distributors distributors |
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| Order Book Rs Cr |
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| Retail Touchpoints outlets |
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Extracted by Screener AI
Documents
Announcements
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
-
Intimation Of Disclosure Under Regulation 29(2) Of SEBI (SAST) Regulations, 2011
- Promoter Aditya Kumar Halwasiya bought 5,90,000 Cupid shares in open market on 15 Sep 2026.
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Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
- Aditya Kumar Halwasiya acquired 11,00,000 Cupid shares on 11 Sep 2026; promoter holding rose to 46.83%.
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Intimation Of Disclosure Under Regulation 29(2) Of SEBI (SAST) Regulations, 2011
- Promoter Aditya Kumar Halwasiya acquired 11,00,000 Cupid shares in open market on September 11, 2026.
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Intimation Of IEPF Notice Sent To Shareholders.
- Unclaimed FY20 interim dividend shares may transfer to IEPF by December 16, 2026.
Annual reports
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Annual Report 2026
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Annual Report 2025
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Annual Report 2024
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Annual Report 2023
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Annual Report 2022
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Annual Report 2021
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Annual Report 2020
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Annual Report 2019
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Annual Report 2018
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Annual Report 2017
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Annual Report 2016
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Annual Report 2015
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Annual Report 2014
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Annual Report 2013
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Annual Report 2012
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Concalls
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May 2026PPT
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Apr 2026PPT
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Jan 2026PPT
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Aug 2025PPT
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May 2025PPT
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Aug 2024PPT
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Apr 2024PPT
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Jan 2024Transcript PPT
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Nov 2023Transcript REC
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Aug 2023Transcript
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Jun 2023Transcript PPT
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Feb 2023Transcript
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Nov 2022Transcript PPT
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Aug 2022Transcript
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Jun 2022Transcript
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Feb 2022Transcript
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Nov 2021Transcript PPT
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Aug 2021Transcript
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Jun 2021Transcript
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Feb 2021Transcript
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Nov 2020Transcript
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Sep 2020Transcript
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Jul 2020Transcript
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Jan 2020Transcript
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Nov 2019Transcript
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Jul 2019Transcript
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Jun 2019Transcript
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Feb 2019Transcript
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Nov 2018Transcript
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Aug 2018Transcript
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Feb 2018PPT
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Nov 2017Transcript
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Jul 2017Transcript
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May 2017Transcript
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Nov 2016Transcript
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Jul 2016Transcript
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May 2016Transcript PPT
Products Offered:[1]
The Co. manufactures male condoms,
female condoms, water-based and brand
male and female condoms, water-based personal lubricants, IVD kits, deodorants, perfumes, almond hair oil, body oils,
petroleum jelly, and other FMCG
Products.