Cupid Ltd.

•

cupidlimited.comBSE: 530843NSE: CUPID

Market Cap₹ 37,597 Cr.

Current Price

High / Low₹ 299 / 38

Stock P/E273.6

Book Value₹ 4

Price to Book24.82

Dividend Yield0.00 %

ROCE33.9 %

ROE31.2 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2024 • Male Condoms: 70.8% • Female Condoms: 22.9% • Other: 3.0%

AI Sector View

AI GENERATED

Fast Moving Consumer Goods

Hold

Rural demand proxies are mixed. Tractor sales rose 18.0% YoY (2026-07) and 2-wheelers were up 23.0% YoY (2026-06), but rural employment slowed to 1.0% YoY (2026-07), fertiliser sales were 0.0% YoY (2026-05), and food inflation of 5.52% (Jul/26) can pressure household budgets. FPI outflows remain heavy at INR -8081 crore over 3 months to 2026-08-31, limiting upside.

Confidence

62%

View full sector analysis →

PROS

Company has delivered good profit growth of 30.2% CAGR over last 5 years
Company has a healthy return on capital (ROCE) of 24.4%
Company has a good return on equity (ROE) track record: 3 Years ROE 23.7%
Latest quarter profit grew 2840.2% YoY, showing strong momentum
Company has delivered good sales growth of 20.0% CAGR over last 5 years
Operating margins have improved to 32.2% from 28.9%

CONS

Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.23x)
Total debt has risen sharply - up 303.4% year on year
Valuation is stretched - P/E of 273.6 is well above its own 5-year median (8.3)
Stock is trading at 24.8x its book value
Though reporting repeated profits, the company pays out little dividend (0.0%)
Expensive relative to growth - PEG of 5.4

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Fast Moving Consumer GoodsFMCGHousehold & Personal Products

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	HINDUNILVR	1945.00	30.55	456995.50	2.11	2680.00	-3.18	17341.00	6.24	28.98	22.76
2.	GODREJCP	865.00	46.26	88515.88	2.31	504.52	11.51	4225.47	16.02	17.96	18.96
3.	DABUR	372.00	33.46	65991.20	2.22	586.16	15.32	3764.39	10.57	21.37	19.68
4.	COLPAL	1804.85	113.08	49089.33	2.66	3430.80	970.05	16033.00	1018.01	110.06	30.12
5.	CUPID	279.60	273.68	37596.71	0.00	441.49	2841.89	1569.80	2524.64	33.93	39.70
6.	PGHH	7620.50	31.28	24736.70	3.35	126.27	-34.25	891.46	-4.67	157.81	19.08
7.	GILLETTE	7484.20	36.50	24387.43	3.21	159.45	9.44	783.02	10.80	90.62	29.09
8.	EMAMILTD	369.10	21.53	16111.22	2.71	138.94	-15.41	1039.21	14.95	29.54	21.61
9.	GALAXYSURF	2289.25	22.94	8116.48	0.96	165.92	108.73	1781.90	39.44	13.39	13.99
10.	SFL	688.55	35.05	7519.19	0.15	62.34	770.67	1031.94	25.63	6.76	10.85
11.	SAFARI	1529.95	45.42	7496.34	0.26	47.75	-5.43	588.58	11.51	21.55	12.81
12.	JYOTHYLAB	195.40	19.37	7175.37	1.79	76.27	-2.41	666.96	1.06	30.71	15.49

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	34	34	40	63	39	42	46	56	60	84	94	120	1,570
	32	29	28	32	32	31	35	43	43	56	59	82	970
Operating Profit	2	5	12	31	7	10	11	13	16	28	34	38	599
OPM %	5.40%	15.15%	30.34%	49.14%	16.99%	24.74%	24.55%	23.80%	27.57%	33.64%	36.71%	31.27%	38.18%
	0	2	1	3	0	6	4	5	0	6	11	12	0
Interest	0	0	0	1	0	1	0	1	1	1	1	1	11
Depreciation	1	1	1	1	1	1	1	1	1	1	1	1	13
Profit before Tax	2	6	12	32	11	14	14	16	20	32	43	47	599
Tax %	3.14%	20.25%	24.45%	26.36%	21.88%	29.30%	21.35%	27.99%	23.21%	25.05%	24.11%	23.58%	26.31%
Net Profit	2	5	9	24	8	10	11	12	15	24	33	36	442
	0.08	0.19	0.33	0.89	0.31	0.37	0.41	0.09	0.56	0.90	1.22	0.27	0.33

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	84	81	85	161	144	133	159	172	184	358	1,868
	50	53	65	109	108	110	118	121	142	243	1,168
Operating Profit	34	27	21	52	36	23	41	51	42	115	700
OPM %	40.45%	33.68%	24.06%	32.46%	25.04%	17.32%	25.93%	29.54%	22.76%	32.20%	37.46%
	1	1	2	3	5	4	5	7	20	35	29
Interest	0	0	0	1	0	0	1	2	2	3	13
Depreciation	2	2	2	2	3	3	3	3	4	5	17
Profit before Tax	32	26	21	53	38	25	42	53	55	142	722
Tax %	36.61%	34.50%	27.28%	24.41%	24.13%	29.53%	25.37%	24.20%	25.45%	24.02%	25.95%
Net Profit	21	17	15	40	29	17	32	40	41	108	535
EPS	18.49	15.38	11.40	29.87	21.73	12.95	2.26	2.97	1.52	0.81	—
Dividend Payout %	21.64%	29.27%	35.08%	15.07%	20.71%	34.74%	21.12%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 19%
5 Years:: 20%
3 Years:: 31%

COMPOUNDED PROFIT GROWTH

10 Years:: 21%
5 Years:: 30%
3 Years:: 51%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 161%
3 Years:: 302%
1 Year:: 584%

RETURN ON EQUITY

10 Years:: 27%
5 Years:: 21%
3 Years:: 24%
Last Year:: 31%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	11	11	13	13	13	13	13	13	27	134
	43	55	63	90	118	129	153	191	217	316
	0	2	2	31	0	9	6	12	18	52
Trade Payables	3	5	6	22	10	12	9	0	1	30
	6	6	8	8	11	11	8	104	109	21
Total Liabilities	63	78	93	165	152	174	189	320	372	553
	16	16	21	26	29	31	36	58	67	67
Capital Work in Progress	0	0	0	3	1	6	0	0	6	25
	5	18	22	21	48	54	69	147	103	75
	4	8	8	16	14	18	19	16	42	70
	0	0	0	0	0	0	0	48	67	101
Cash & Bank	19	4	9	37	19	21	30	39	69	186
	19	32	33	61	41	44	35	11	19	29
Total Assets	63	78	93	165	152	174	189	320	372	553

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	32	14	24	32	51	19	44	8	-11	46
Cash from Investing	-5	-9	-14	-37	-9	-13	-22	-80	45	28
Cash from Financing	-4	-3	-5	16	-33	3	-11	99	-1	35
	11	-9	-0	-2	0	-1	-0	27	32	110

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	44.80	45.61	42.52	42.52	42.52	45.55	45.55	46.03	46.24
	5.97	3.33	3.14	1.63	0.95	2.58	1.48	1.01	4.17
	0.00	0.00	0.00	0.11	0.11	0.31	0.26	0.17	0.34
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	49.23	51.06	54.34	55.75	56.43	51.56	52.71	52.79	49.25

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10

General Updates

2026-09-10 - Cupid Limited has informed the Exchange about IEPF Notice sent to Shareholders.

2026-09-10

Copy of Newspaper Publication

2026-09-10 - Cupid Limited has informed the Exchange about Copy of Newspaper Publication of IEPF Notice to Shareholders.

2026-09-09

General Updates

2026-09-09 - Cupid Limited has informed the Exchange about Intimation of Disclosure Under Regulation 29(2) Of SEBI (SAST)Regulations, 2011

2026-09-01

General Updates

2026-09-01 - Cupid Limited has informed the Exchange about Intimation of Disclosure Under Regulation 29(2) Of SEBI (SAST)Regulations, 2011

2026-08-28

General Updates

2026-08-28 - Company Has Dispatched Letter Providing The Web-Link To Those Members Whose E-Mail Addresses Are Not Registered With Company / Registrar And Share Transfer Agent / Depository Participants Of The Company.

2026-08-28

Press Release

2026-08-28 - Cupid Limited has informed the Exchange regarding a press release dated August 28, 2026, titled "Cupid Limited Receives In-Principle Board Approval for South African Manufacturing Venture".

2026-08-28

General Updates

2026-08-28 - Cupid Limited has informed the Exchange about in-principle approval for the establishment of a South African manufacturing venture with a South African partner.

2026-08-26

General Updates

2026-08-26 - Cupid Limited has informed the Exchange about Intimation of Disclosure Under Regulation 29(2) Of SEBI (SAST)Regulations, 2011

2026-08-26

Copy of Newspaper Publication

2026-08-26 - Cupid Limited has informed the Exchange about Newspaper Publication for Notice of 33rd AGM of the Company.

News

Recent coverage and analyst commentary for CUPID

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Cupid Ltd.

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Free 5nance Account

Name

HINDUNILVR

1945.00

30.55

456995.50

2.11

2680.00

-3.18

17341.00

6.24

28.98

22.76

GODREJCP

865.00

46.26

88515.88

2.31

504.52

11.51

4225.47

16.02

17.96

18.96

DABUR

372.00

33.46

65991.20

2.22

586.16

15.32

3764.39

10.57

21.37

19.68

COLPAL

1804.85

113.08

49089.33

2.66

3430.80

970.05

16033.00

1018.01

110.06

30.12

CUPID

279.60

273.68

37596.71

0.00

441.49

2841.89

1569.80

2524.64

33.93

39.70

PGHH

7620.50

31.28

24736.70

3.35

126.27

-34.25

891.46

-4.67

157.81

19.08

GILLETTE

7484.20

36.50

24387.43

3.21

159.45

9.44

783.02

10.80

90.62

29.09

EMAMILTD

369.10

21.53

16111.22

2.71

138.94

-15.41

1039.21

14.95

29.54

21.61

GALAXYSURF

2289.25

22.94

8116.48

0.96

165.92

108.73

1781.90

39.44

13.39

13.99

SFL

688.55

35.05

7519.19

0.15

62.34

770.67

1031.94

25.63

6.76

10.85

SAFARI

1529.95

45.42

7496.34

0.26

47.75

-5.43

588.58

11.51

21.55

12.81

JYOTHYLAB

195.40

19.37

7175.37

1.79

76.27

-2.41

666.96

1.06

30.71

15.49

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

120

1,570

970

Operating Profit

599

OPM %

5.40%

15.15%

30.34%

49.14%

16.99%

24.74%

24.55%

23.80%

27.57%

33.64%

36.71%

31.27%

38.18%

Interest

Depreciation

Profit before Tax

599

Tax %

3.14%

20.25%

24.45%

26.36%

21.88%

29.30%

21.35%

27.99%

23.21%

25.05%

24.11%

23.58%

26.31%

Net Profit

442

0.08

0.19

0.33

0.89

0.31

0.37

0.41

0.09

0.56

0.90

1.22

0.27

0.33

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

161

144

133

159

172

184

358

1,868

109

108

110

118

121

142

243

1,168

Operating Profit

115

700

OPM %

40.45%

33.68%

24.06%

32.46%

25.04%

17.32%

25.93%

29.54%

22.76%

32.20%

37.46%

Interest

Depreciation

Profit before Tax

142

722

Tax %

36.61%

34.50%

27.28%

24.41%

24.13%

29.53%

25.37%

24.20%

25.45%

24.02%

25.95%

Net Profit

108

535

EPS

18.49

15.38

11.40

29.87

21.73

12.95

2.26

2.97

1.52

0.81

—

Dividend Payout %

21.64%

29.27%

35.08%

15.07%

20.71%

34.74%

21.12%

0.00%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

134

118

129

153

191

217

316

Trade Payables

104

109

Total Liabilities

165

152

174

189

320

372

553

Capital Work in Progress

147

103

101

Cash & Bank

186

Total Assets

165

152

174

189

320

372

553

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-11

Cash from Investing

-5

-9

-14

-37

-9

-13

-22

-80

Cash from Financing

-4

-3

-5

-33

-11

-1

-9

-0

-2

-1

-0

110

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

44.80

45.61

42.52

45.55

46.03

46.24

5.97

3.33

3.14

1.63

0.95

2.58

1.48

1.01

4.17

0.00

0.11

0.31

0.26

0.17

0.34

Government

0.00

49.23

51.06

54.34

55.75

56.43

51.56

52.71

52.79

49.25

Cupid Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Cupid Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI