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 ₹ 8,399 Cr.
- Current Price ₹ 313
- High / Low ₹ 314 / 50.0
- Stock P/E 136
- Book Value ₹ 14.2
- Dividend Yield 0.00 %
- ROCE 17.1 %
- ROE 12.9 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
- Company is expected to give good quarter
- Promoter holding has increased by 3.04% over last quarter.
Cons
- Stock is trading at 22.0 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoters have pledged or encumbered 36.1% of their holding.
* 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|
| 149 | 172 | 183 | 247 | |
| 108 | 121 | 141 | 177 | |
| Operating Profit | 41 | 51 | 42 | 70 |
| OPM % | 28% | 30% | 23% | 28% |
| 0 | 7 | 19 | 20 | |
| Interest | 0 | 2 | 2 | 3 |
| Depreciation | 3 | 3 | 4 | 5 |
| Profit before tax | 38 | 53 | 55 | 82 |
| Tax % | 24% | 24% | 25% | |
| 29 | 40 | 41 | 62 | |
| EPS in Rs | 1.09 | 1.49 | 1.52 | 2.30 |
| Dividend Payout % | 21% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 35% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 21% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 34% |
| 5 Years: | 95% |
| 3 Years: | 189% |
| 1 Year: | 272% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| Last Year: | 13% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|
| Equity Capital | 13 | 13 | 27 | 27 |
| Reserves | 118 | 288 | 315 | 354 |
| 0 | 12 | 19 | 27 | |
| 22 | 7 | 11 | 34 | |
| Total Liabilities | 152 | 320 | 372 | 442 |
| 29 | 58 | 67 | 67 | |
| CWIP | 1 | 0 | 6 | 9 |
| Investments | 48 | 147 | 103 | 13 |
| 74 | 114 | 196 | 353 | |
| Total Assets | 152 | 320 | 372 | 442 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| 42 | 8 | -11 | |
| -9 | -80 | 45 | |
| -33 | 99 | -1 | |
| Net Cash Flow | 0 | 27 | 32 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Debtor Days | 62 | 102 | 134 |
| Inventory Days | 100 | 184 | 450 |
| Days Payable | 73 | 1 | 13 |
| Cash Conversion Cycle | 89 | 285 | 570 |
| Working Capital Days | 200 | 123 | 210 |
| ROCE % | 17% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
2d - Cupid Limited is hereby informing BSE about newspaper clippings of financial results for quarter ended 30th September, 2025.
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Announcement under Regulation 30 (LODR)-Monitoring Agency Report
13 Nov - CRISIL MA report: Rs385.22cr preferential issue; Rs96.30cr received and utilized; Rs288.92cr not received, warrants lapsed by Sep 13, 2025.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
12 Nov - Q2 FY26 revenue ₹90.23 Cr, net profit ₹24.12 Cr; FY26 guidance ₹335 Cr, net profit >₹100 Cr.
- Financial Results For Quarter Ended 30Th September, 2025. 12 Nov
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Board Meeting Outcome for Outcome Of Board Meeting Held On 12Th November, 2025.
12 Nov - Board approved Q2 results; net profit ₹24.12 crore; 4.40 crore warrants expired; ₹96.30 crore retained.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Concalls
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Aug 2025TranscriptNotesPPT
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May 2025TranscriptNotesPPT
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Aug 2024TranscriptNotesPPT
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Apr 2024TranscriptNotesPPT
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Jan 2024Transcript PPT
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Nov 2023TranscriptPPTREC
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Nov 2022Transcript PPT
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Nov 2021Transcript PPT
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Aug 2021TranscriptPPT
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Nov 2020TranscriptPPT
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Sep 2020TranscriptPPT
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Jan 2020TranscriptPPT
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Nov 2019TranscriptPPT
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Jul 2019TranscriptPPT
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Feb 2019TranscriptPPT
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Nov 2018TranscriptPPT
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Aug 2018TranscriptPPT
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Feb 2018TranscriptNotesPPT
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Nov 2017TranscriptPPT
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Jul 2017TranscriptPPT
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May 2017TranscriptPPT
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Nov 2016TranscriptPPT
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Jul 2016TranscriptPPT
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May 2016Transcript PPT
Products Offered[1]
The Co. manufactures male condoms, female condoms, water-based lubricant jelly, IVD products such as Pregnancy Test Kits, Covid 19 Antigen Test Kit, HIV Test Kit, Dengue test kits, Malaria antigen test kits, etc.