Cupid Ltd
CUPID NSE
Cupid Ltd
Consumer GoodsNSE: CUPID BSE: 530843 Personal Care
Key Fundamentals
SmallcapPersonal CareConsumer GoodsMarket Cap
₹35,201 Cr
Volatility
Moderate
P/E Ratio
278.46
EBITDA
₹117 Cr
Return on Equity
11.95%
Debt to Equity
0.12
Book Value
₹3.35
52W High
₹299
52W Low
₹32.87
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Cupid Ltd insights
51 extracted metrics + investor summaries across FY14–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
3- Company is expected to give good quarter
- Company has delivered good profit growth of 31.0% CAGR over last 5 years
- Company's working capital requirements have reduced from 147 days to 108 days
Weaknesses
2- Stock is trading at 79.7 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
Growth Rate
Revenue Growth
76.04% ↗
Net Income Growth
169.32% ↗
Cash Flow Change
-245.03% ↘
ROE
-9.67% ↘
ROCE
-9.63% ↘
EBITDA Margin (Avg.)
-1.29% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 5d agoAI opinion · based on fundamentals
Risk high
Cupid Ltd is a small-cap company (market cap ₹387 Cr) that has delivered explosive stock price appreciation of 764% in the last 1 year and 116% TTM sales growth, but trades at extremely stretched valuations of 284x PE and 86x price-to-book, with no dividend payout despite reported profitability.
Bull Case 8
- TTM sales growth of 116% indicates a sharp acceleration in revenue momentum compared to the 5-year CAGR of 22%
- Compounded profit growth of 188% TTM demonstrates significant operating leverage and margin expansion
- 5-year compounded profit CAGR of 31% reflects sustained earnings growth over a meaningful time period
- ROE of 27% in the last year is well above cost of equity and has improved from the 5-year average of 19%
- 10-year ROE average of 22% suggests consistent capital efficiency over a long period
- Working capital days reduced from 147 to 108 days, indicating improved cash conversion and operational efficiency
- 10-year compounded sales CAGR of 20% and profit CAGR of 21% show a long track record of steady growth
- 3-year stock CAGR of 349% and 5-year CAGR of 161% reflect sustained market re-rating over multiple time horizons
Bear Case 8
- PE ratio of 284x is extreme even for a high-growth small-cap, leaving virtually no margin of safety if growth slows
- Price-to-book of 86.4x implies the stock price has far outrun underlying asset growth, creating significant downside risk
- Despite reporting repeated profits, the company is not paying any dividend, raising questions about capital allocation priorities
- 764% stock price appreciation in 1 year suggests speculative momentum that may not be sustainable
- Market cap of only ₹387 Cr makes the stock susceptible to liquidity risk and higher volatility
- Debt-to-equity, EPS, and ROCE data are unavailable, limiting the ability to assess financial health comprehensively
- 52-week high and low data are unavailable (reported as 0), making it difficult to assess current price relative to recent range
- TTM profit growth of 188% off a potentially low base may not be repeatable, and any normalization could compress the PE sharply
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 18h ago Positives 2
- Q1FY27 net profit surges 194% Aug 7
Standalone net profit jumped 194% YoY to ₹44.16 crore for Q1FY27, with revenue surging 159% to ₹154.7 crore. The Board also approved an exploratory project in West Bengal.
- USD 5 Mn investment in GII Healthcare Jul 29
Cupid made a USD 5 Mn follow-on investment in GII Healthcare Investment Limited, deepening its strategic partnership and exposure to GCC healthcare assets.
Neutral 2
- New independent director appointed Aug 17
Keral Prasad Yadav appointed as Additional Non-Executive Independent Director for five years effective August 17, 2026, subject to shareholder ratification at the 33rd AGM.
- Unclaimed FY19 dividend deadline warning Jul 28
Shareholders must claim unclaimed FY19 final dividends by November 02, 2026, or equity shares and dividend amounts will be transferred to IEPF Authority.
TL;DR: Cupid Ltd is delivering exceptional growth with Q1FY27 profit up 194% and revenue up 159%, signaling strong execution and demand momentum. The company is also expanding strategically via a USD 5 Mn healthcare investment and a new West Bengal project. No material headwinds are visible in recent news flow. The trend is clearly improving, and sustained order flow and margin performance will be key to watch in coming quarters.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 35 | 36 | 40 | 66 | 44 | 47 | 51 | 61 | 65 | 90 | 104 | 132 | 157 |
| Expenses | 32 | 29 | 28 | 32 | 32 | 31 | 35 | 43 | 43 | 56 | 59 | 82 | 95 |
| Operating Profit | 3 | 7 | 12 | 34 | 12 | 16 | 16 | 18 | 21 | 34 | 45 | 50 | 62 |
| OPM % | 9% | 20% | 30% | 51% | 26% | 34% | 31% | 30% | 33% | 38% | 43% | 38% | 40% |
| Other Income | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 1 | 0 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| PBT | 2 | 6 | 12 | 32 | 11 | 14 | 14 | 16 | 20 | 32 | 43 | 47 | 60 |
| Tax % | 3% | 20% | 24% | 26% | 22% | 29% | 21% | 28% | 23% | 25% | 24% | 24% | 26% |
| Net Profit | 2 | 5 | 9 | 24 | 8 | 10 | 11 | 12 | 15 | 24 | 33 | 36 | 44 |
| EPS in Rs | 0.02 | 0.04 | 0.07 | 0.18 | 0.06 | 0.07 | 0.08 | 0.09 | 0.11 | 0.18 | 0.24 | 0.27 | 0.33 |
Profit & Loss
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 44 | 61 | 84 | 81 | 85 | 160 | 143 | 133 | 159 | 172 | 183 | 391 | 484 |
| Expenses | 32 | 36 | 50 | 53 | 65 | 108 | 107 | 109 | 118 | 121 | 141 | 241 | 292 |
| Operating Profit | 13 | 25 | 34 | 27 | 21 | 52 | 36 | 23 | 41 | 51 | 42 | 150 | 191 |
| OPM % | 29% | 41% | 41% | 34% | 24% | 33% | 25% | 17% | 26% | 30% | 23% | 38% | 40% |
| Other Income | 1 | 2 | 1 | 1 | 2 | 3 | 5 | 4 | 5 | 7 | 19 | 0 | 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 |
| PBT | 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% | — |
| Net Profit | 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 | 0.3 | 0.22 | 0.13 | 0.24 | 0.3 | 0.3 | 0.81 | 1.02 |
| Div. Payout % | 22% | 21% | 22% | 29% | 35% | 15% | 21% | 35% | 21% | 0% | 0% | 0% | — |
Balance Sheet
| 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 |
| Borrowings | 2 | 1 | 0 | 2 | 2 | 31 | 0 | 9 | 6 | 12 | 19 | 56 |
| Other Liabilities | 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 |
| Fixed Assets | 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 |
| Other Assets | 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 Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 7 | 13 | 20 | 3 | 18 | 19 | 42 | 10 | 33 | 8 | -11 | 46 |
| Investing | -1 | -1 | -5 | -9 | -14 | -37 | -9 | -13 | -22 | -80 | 45 | 28 |
| Financing | -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 | 52 |
Ratios
| 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 | 94 |
| Inventory Days | 155 | 60 | 133 | 259 | 168 | 437 | 230 | 197 | 229 | 184 | 450 | 173 |
| Days Payable | 84 | 27 | 80 | 162 | 135 | 579 | 168 | 134 | 105 | 1 | 13 | 75 |
| Cash Conversion Cycle | 139 | 112 | 112 | 198 | 130 | -46 | 127 | 147 | 183 | 285 | 570 | 191 |
| Working Capital Days | 58 | 77 | 67 | 130 | 108 | 40 | 87 | 87 | 77 | 123 | 210 | 108 |
| ROCE % | 48% | 79% | 72% | 43% | 29% | 50% | 28% | 17% | 26% | 22% | 17% | 33% |
Documents
1
Intimation Of Administrative Warning Letter.
28 Apr - SEBI issued an administrative warning letter on April 23, 2026 for non-disclosure of cancelled preferential issue. 28 Apr - SEBI issued an administrative warning letter on April 23, 2026 for non-disclosure of cancelled preferential issue.
2
Board Meeting Intimation for Approval Of Financial Results For Quarter And Financial Year Ended 31St March, 2026 And Other General Matters.
29 Apr - Board to meet on 15 May 2026 to approve audited FY26 and Q4 results; trading window closed. 29 Apr - Board to meet on 15 May 2026 to approve audited FY26 and Q4 results; trading window closed.
3
Compliances-Reg.24(A)-Annual Secretarial Compliance
6 May - Cupid Ltd’s annual secretarial compliance report for FY2026 shows overall compliance, with one delayed insider-trading event disclosure. 6 May - Cupid Ltd’s annual secretarial compliance report for FY2026 shows overall compliance, with one delayed insider-trading event disclosure.
4
Format of the Annual Disclosure to be made by an entity identified as a LC - Annexure B2
23 Apr - Cupid Limited confirms it is not a Large Corporate as of 31 March 2026. 23 Apr - Cupid Limited confirms it is not a Large Corporate as of 31 March 2026.
5
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
23 Apr - Cupid Limited confirms it is not a Large Corporate as of 31 March 2026. 23 Apr - Cupid Limited confirms it is not a Large Corporate as of 31 March 2026.
Frequently Asked Questions about Cupid Ltd
What does Cupid Ltd do?
Established in 1993, CUPID Limited is India's premier manufacturer of male and female condoms, personal lubricant, and IVD kits.[1]
Where is Cupid Ltd (CUPID) listed?
Cupid Ltd is listed on the Indian stock exchanges. It is listed on NSE: CUPID and BSE: 530843. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Cupid Ltd belong to?
Cupid Ltd operates in the Consumer Goods sector within the Personal Care industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Cupid Ltd?
Cupid Ltd has a market capitalisation of approximately ₹35200.53 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Cupid Ltd?
The Price-to-Earnings (PE) ratio of Cupid Ltd is 278.46. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Cupid Ltd?
Over the past 52 weeks, Cupid Ltd has traded between a low of ₹32.87 and a high of ₹299. This range helps investors understand the stock's price volatility and recent trading levels.
Does Cupid Ltd pay dividends?
Yes, Cupid Ltd has a dividend yield of 1.87%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Cupid Ltd?
Cupid Ltd has a Return on Equity (ROE) of 11.95%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Cupid Ltd on Tapetide?
On Tapetide, you can view Cupid Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Established in 1993, CUPID Limited is India's premier manufacturer of male and female condoms, personal lubricant, and IVD kits.[1]
Website cupidlimited.com
CEO Mr. Aditya Kumar Halwasiya
Employees 217
Listed 2016-09-16
Face Value ₹ 1
Issued Size 26,84,67,140