Cupid share price
NSE: CUPIDBSE: 530843Personal ProductsSmall Cap
Cupid Limited · Face value ₹1 Face value. The nominal value of one share as the company issued it, the unit its share capital is counted in and a dividend can be stated as a percentage of; it has no link to the share price. Face value in the glossary · Listed Jul 1995 on BSE, Sep 2016 on NSE
Last close ₹316.60up ₹2.55 (0.81%)BSE ₹316.45
Share price at the NSE close on 27 Oct 2026. Previous close ₹314.05.
27 Oct: open ₹315.00, high ₹328.70, low ₹314.00
52-week range of traded prices to 27 Oct 2026
₹46.00Low, 3 Nov 2025₹368.95High, 12 Oct 2026
- Under NSE's long-term additional surveillance, stage I, on the list for 27 Oct 2026. The exchange puts a share here when its price has moved unusually, and trading in it carries extra conditions.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹42,572 Cr450th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 310.39
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 94.44
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 34.6%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 30.9%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- 0.11
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 1,26,62,34939.0% delivered
About Cupid
Cupid Limited makes male and female condoms, water-based lubricants and rapid diagnostic test kits, and a growing range of personal care and wellness products for consumers.1 It sells to governments, health ministries, UN agencies and brand owners abroad through tenders and contract manufacturing, and to consumers in India through distributors, modern trade, organised retail and online channels.2
It reports a single business segment, personal care.3 Its consumer range spans fragrances, personal care and home hygiene under brands such as Cupid Angel, Cupi Safe, CupiKIT, CupiSURE, NiVi and LiVi Home.4 Its only subsidiary, Cupid Invesco Limited in the Jebel Ali Free Zone in the UAE, had not started operations as of Mar 2026.56
It was incorporated in 1993 and listed on BSE in 1995 and on NSE in 2016.1 It was the first company in the world to receive WHO/UNFPA pre-qualification (the quality approval the World Health Organization and the UN Population Fund require of suppliers to their programmes) for both male and female condoms.7
Its promoter group includes Aditya Kumar Halwasiya, its chairman and managing director, and Columbia Petro Chem Private Limited.89
Cupid key points
Results
- In the year to Mar 2026, consolidated revenue from operations grew 95% to ₹357.71 crore, EBITDA (earnings before interest, tax, depreciation and amortisation) grew 180% to ₹116.70 crore and profit after tax grew 165% to ₹108.23 crore.10
- In the quarter to Mar 2026, revenue from operations rose 112% from a year earlier to ₹119.96 crore, EBITDA rose 180% to ₹37.52 crore and profit after tax rose 215% to ₹36.26 crore.11
- The EBITDA margin on revenue from operations was about 32.6% in the year to Mar 2026, against 22.7% a year earlier, and the net profit margin about 30.3%, against 22.3%.12
Products
- Male condoms. The base of the business, sold through 3 routes: international tenders and public-health programmes, OEM and private-label supply (products made for other companies' brands), and the company's own brands.13
- Female condoms. Its natural rubber latex female condom is supplied to more than 50 countries. In the year to Mar 2026 it began developing a latex-free nitrile version, for a market the company says a single manufacturer has served.14
- Diagnostics and lubricants. It makes rapid diagnostic test kits, such as pregnancy, HIV, malaria and dengue tests, and water-based lubricants. Its HIV, hepatitis B, syphilis and pregnancy kits received European Union CE (IVDR) certification in the year to Mar 2026.1516
- Consumer products. Sells condoms, lubricants and personal care and wellness products to Indian consumers, with FMCG revenue of ₹121.61 crore in the year to Mar 2026, through more than 1.5 lakh retail outlets, including over 75,000 chemists, and over 2,900 modern-trade stores.1715
Where revenue comes from
- Exports were ₹208.13 crore in the year to Mar 2026, 59.3% of total revenue, with a particular presence in Africa and customers in more than 125 countries.18
Plants and capacity
- Its established plant is at Sinnar, near Nashik, where every condom is electronically tested before dispatch.19
- The company stated in its annual report for the year to Mar 2026 that the Palava plant in Maharashtra, fully commissioned, is expected to add around 770 million male and 75 million female condoms a year, raising capacity to about 1.25 billion and 125 million.20
- The company stated in its annual report for the year to Mar 2026 that it plans to commission Palava during the year to Mar 2027, with lines for both natural rubber latex and nitrile products.2119
Customers and partners
- The company names WHO/UNFPA, PFSCM, the Global Fund, MSI, PSI and the IDA Foundation among the global institutions it works with.22
- In the year to Mar 2026 it signed a long-term supply contract with Partnership for Supply Chain Management (PFSCM), a buyer for public-health programmes; it also has a long-term agreement with WHO/UNFPA.2316
- The company has committed ₹331.53 crore to Baazar Style Retail Limited, a retail chain, to widen the reach of its Indian consumer business; ₹82.88 crore was deployed in April 2026 and ₹36.93 crore in May 2026.2425
What the company expects
- The company stated in its annual report for the year to Mar 2026 that it expects revenue of ₹725 crore to ₹750 crore and net profit of ₹210 crore to ₹225 crore in the year to Mar 2027.21
- The company stated in its annual report for the year to Mar 2026 that it targets revenue of ₹1,085 crore and net profit of ₹304 crore in the year to Mar 2028, and ₹1,500 crore and ₹450 crore in the year to Mar 2029.26
- The company stated in its annual report for the year to Mar 2026 that it expects the Baazar Style Retail store network to add about ₹150 crore of revenue in the year to Mar 2027, rising towards ₹500 crore over the medium term.27
Recent events
- The company converted 30,00,000 more of its Baazar Style Retail warrants (rights to buy shares at a set price) into Baazar Style Retail shares at ₹328.25 each, bringing the total converted to 45,00,000 of 1,01,00,000, with 56,00,000 left.28
- The board gave in-principle approval for a proposed South African manufacturing venture with a local partner. Under the proposed structure the company would hold up to 49%, and the partner is proposed to arrange the capital spending and operating funding.29
- The company made a follow-on investment of $5 million in GII Healthcare Investment Limited, a healthcare-focused investment platform managed by GII, funded through internal accruals (its own retained earnings).30
Litigation and regulatory matters
- The Securities and Exchange Board of India (SEBI, the market regulator) issued the company an administrative warning letter dated 23 Apr 2026 for not disclosing the cancellation of a preferential issue; the company said this has no material impact on it.31
Last updated
All 31 sources, each with its page
- 1. Annual report, 5 Oct 2026, page 37
- 2. Annual report, 5 Oct 2026, page 8
- 3. Annual report, 5 Oct 2026, page 140
- 4. Annual report, 5 Oct 2026, page 38
- 5. Annual report, 5 Oct 2026, page 31
- 6. Annual report, 5 Oct 2026, page 32
- 7. Annual report, 5 Oct 2026, page 5
- 8. Exchange filing, 25 Sep 2026, page 1
- 9. Exchange filing, 25 Sep 2026, page 3
- 10. Annual report, 5 Oct 2026, page 38
- 11. Annual report, 5 Oct 2026, page 38
- 12. Annual report, 5 Oct 2026, page 38
- 13. Annual report, 5 Oct 2026, page 7
- 14. Annual report, 5 Oct 2026, page 7
- 15. Annual report, 5 Oct 2026, page 38
- 16. Annual report, 5 Oct 2026, page 12
- 17. Annual report, 5 Oct 2026, page 8
- 18. Annual report, 5 Oct 2026, page 9
- 19. Annual report, 5 Oct 2026, page 38
- 20. Annual report, 5 Oct 2026, page 12
- 21. Annual report, 5 Oct 2026, page 18
- 22. Annual report, 5 Oct 2026, page 37
- 23. Annual report, 5 Oct 2026, page 13
- 24. Annual report, 5 Oct 2026, page 16
- 25. Annual report, 5 Oct 2026, page 39
- 26. Annual report, 5 Oct 2026, page 39
- 27. Annual report, 5 Oct 2026, page 16
- 28. Exchange filing, 15 Oct 2026, page 1
- 29. Exchange filing, 28 Aug 2026, page 2
- 30. Exchange filing, 29 Jul 2026, page 2
- 31. Exchange filing, 28 Apr 2026, page 2
Results
Standalone, as consolidated accounts are on record for only 2 of the last ten years; ₹ crore.Cupid quarterly results
Quarter to Jun 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹155 Crup 28.97%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹44 Crup 21.78%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 28.5%
Revenue by quarter
Peak revenue ₹155 Cr, quarter to Jun 2026; lowest ₹42 Cr, quarter to Sep 2024
Net profit by quarter, a loss in red
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 42 | 46 | 56 | 60 | 84 | 94 | 120 | 155 |
| Net profit | 10 | 11 | 12 | 15 | 24 | 33 | 36 | 44 |
| Net margin | 24.2% | 23.9% | 20.5% | 25.1% | 28.6% | 35.1% | 30.2% | 28.5% |
Standalone. The last eight quarters. The latest is shaded.
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹358 Crup 94.91%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹108 Crup 164.51%
- Net margin
- 30.3%
Revenue by year
Peak revenue ₹358 Cr, year to Mar 2026; lowest ₹81 Cr, year to Mar 2018
Net profit by year, a loss in red
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 83 | 81 | 85 | 161 | 144 | 133 | 159 | 171 | 184 | 358 |
| Net profit | 21 | 17 | 15 | 40 | 29 | 17 | 32 | 40 | 41 | 108 |
| Net margin | 24.8% | 21.2% | 17.8% | 24.7% | 20.2% | 13.0% | 19.8% | 23.3% | 22.3% | 30.3% |
Standalone. Years to March. The latest is shaded.
Business segments
In the year to Mar 2026 the company reports one business segment, Personal Care, which carries all its revenue.
Valuation
Today, against the company's own history.Cupid PE ratio and valuation
Price to earnings
At or below today's level on 99% of 2,335 trading days since May 2017.
LowestHighest
Its median15.34Industry median33.94
Price to book
At or below today's level on 99% of 1,973 trading days since Nov 2018.
LowestHighest
Its median2.77Industry median5.41
Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price. When a year's dividend goes ex later than the year before's, the yield reads zero for the days between; a run of under 60 such trading days is left out of the yield's medians and percentiles. The ex-date is the day from which a buyer of the share no longer gets the dividend.
At or below today's level on 21% of 2,478 trading days over the last 10 years.
LowestHighest
Its median1.40%Industry median2.56%
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | +563.4% | +166.4% | +149.0% | 0.0% |
| 3 years | +220.2% | +50.7% | +112.5% | 0.0% |
| 5 years | +109.5% | +30.1% | +60.4% | 0.8% |
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add.
Mutual fund holdings
45 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 8 of the 8 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 45 funds holding Cupid
- Bought for the first timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 36
- AddedAdded. Funds that held more shares than at the end of the month before.
- 2
- CutCut. Funds that held fewer shares than at the end of the month before.
- 6
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 1
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 1
| Fund | |||
|---|---|---|---|
 Kotak Nifty Alpha 50 ETFKotak Mahindra Mutual Fund | 24,19,315 | 8.46% | ₹75.4 Cr |
 Bandhan Nifty Alpha 50 Index FundBandhan Mutual Fund | 14,11,158 | 7.35% | ₹44.0 Cr |
 Nippon India Nifty Smallcap 250 Index FundNippon India Mutual Fund | 10,43,424 | 0.94% | ₹32.5 Cr |
 HDFC Nifty Smallcap 250 ETFHDFC Mutual Fund | 8,18,765 | 0.94% | ₹25.5 Cr |
 SBI Nifty Smallcap 250 Index FundSBI Mutual Fund | 5,30,041 | 0.94% | ₹16.5 Cr |
 Motilal Oswal Nifty Smallcap 250 Index FundMotilal Oswal Mutual Fund | 3,75,981 | 0.94% | ₹11.7 Cr |
 ICICI Prudential Nifty Smallcap 250 Index FundICICI Prudential Mutual Fund | 2,37,669 | 0.94% | ₹7.41 Cr |
| HDFC Nifty Smallcap 250 Index FundHDFC Mutual Fund | 2,27,932 | 0.94% | ₹7.10 Cr |
| Kotak Nifty Alpha 50 Index FundKotak Mahindra Mutual Fund | 1,51,248 | 8.51% | ₹4.71 Cr |
 JioBlackRock Nifty Smallcap 250 Index FundJio BlackRock Mutual Fund | 1,18,940 | 0.94% | ₹3.71 Cr |
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.
Promoter and insider buying and selling
Trades made since 28 Oct 2025.Cupid insider trading
No promoter, director, key manager or employee bought or sold on the market.
- Promoters and promoter group: no market trade · 59 pledge filings of unclear kind
- Others: no market trade · 1 pledge filing of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.
Cupid competitors and peers
Personal Care, 21 listed companies, priced on 27 Oct 2026. The table lists the 8 companies closest to Cupid in market cap.FMCG companies
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
 Godrej Consumer ProductsGODREJCP | 84,812 | 44.32 | 6.70 | +9.2% | +3.2% | 15.5% | 17.7% | 2.41% |
 Dabur IndiaDABUR | 63,472 | 32.19 | 5.56 | +7.4% | +10.7% | 17.7% | 15.9% | 2.31% |
 Colgate Palmolive (India)COLPAL | 43,610 | 32.02 | 26.96 | +8.7% | +2.7% | 85.1% | 109.0% | 2.99% |
 Gillette IndiaGILLETTE | 23,846 | 35.69 | 25.20 | – | – | 67.8% | 93.5% | 3.28% |
 Procter & Gamble Hygiene and Health CarePGHH | 21,960 | 27.77 | 29.14 | – | – | 106.1% | 137.6% | 3.77% |
 EmamiEMAMILTD | 15,833 | 21.16 | 5.41 | +2.8% | −8.5% | 26.6% | 26.3% | 2.71% |
 Honasa ConsumerHONASA | 14,733 | 59.20 | 10.44 | +21.1% | +237.4% | 19.2% | 18.2% | 0.66% |
 Bajaj Consumer CareBAJAJCON | 5,048 | 20.12 | 5.62 | +28.5% | +83.8% | 32.5% | 31.4% | 0.00% |
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.
Dividends
Per share, by the year it was paid for, and the latest payments.Cupid dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossaryHighest ₹0.05 a share, year to Mar 2023.
| Ex-date | Type | Per share |
|---|---|---|
| 18 Sep 2023 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹3.00 |
| 24 Nov 2022 | Interim | ₹2.00 |
| 19 Sep 2022 | Final | ₹3.50 |
| 25 Nov 2021 | Interim | ₹1.00 |
| 17 Sep 2021 | Final | ₹3.50 |
| 19 Nov 2020 | Interim | ₹1.00 |
Latest payments, as declared, by ex-date.
Latest announcements
Routine notices left out.Cupid announcements
Oct 2026
15 Oct · Business
Sep 2026
30 Sep · Business
28 Sep · General Updates
Cupid share price by year
Each calendar year to 2025.Cupid share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 103.62 | +584.3% | 103.62 | 11.50 |
| 2024 | 15.14 | +35.1% | 27.33 | 11.36 |
| 2023 | 11.20 | +307.0% | 11.20 | 2.40 |
| 2022 | 2.75 | +23.6% | 3.44 | 1.99 |
| 2021 | 2.23 | −9.2% | 2.66 | 2.07 |
| 2020 | 2.45 | +11.4% | 2.87 | 1.26 |
| 2019 | 2.20 | +37.8% | 2.21 | 1.05 |
| 2018 | 1.60 | −36.5% | 3.48 | 1.44 |
| 2017 | 2.52 | −0.1% | 2.82 | 2.11 |
| 2016BSE close | 2.52 | −29.2% | 3.60 | 1.99 |
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.
Recent sessions
The 9 trading days to 26 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 26 Oct 2026 | 308.00 | 318.50 | 302.55 | 314.05 | 309.66 | 1,51,97,810 | 35.0% |
| 23 Oct 2026 | 320.85 | 324.70 | 302.30 | 306.45 | 309.19 | 1,92,47,935 | 35.5% |
| 22 Oct 2026 | 338.70 | 341.40 | 316.00 | 320.05 | 326.71 | 2,13,15,264 | 31.9% |
| 21 Oct 2026 | 336.50 | 343.65 | 322.00 | 340.75 | 336.31 | 2,05,30,137 | 26.9% |
| 19 Oct 2026 | 353.70 | 358.00 | 333.70 | 336.30 | 341.97 | 2,26,80,452 | 35.6% |
| 16 Oct 2026 | 353.00 | 357.65 | 348.00 | 353.70 | 351.95 | 1,53,86,844 | 25.4% |
| 15 Oct 2026 | 355.00 | 358.45 | 346.10 | 352.50 | 352.19 | 1,17,57,828 | 31.5% |
| 14 Oct 2026 | 353.10 | 364.00 | 351.05 | 354.60 | 357.91 | 1,09,80,021 | 31.5% |
| 13 Oct 2026 | 361.85 | 362.90 | 345.65 | 353.10 | 351.75 | 1,78,24,411 | 28.2% |
Prices in ₹ per share as traded, not adjusted.
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Bonus shares and stock split history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 9 Mar 2026 | Bonus | 0.2000 | Holders received 4 bonus shares for every 1 held. |
| 4 Apr 2024 | Bonus | 0.5000 | Holders received 1 bonus share for every 1 held. |
| 4 Apr 2024 | Split | 0.1000 | Each share became 10. |
| 11 Oct 2018 | Bonus | 0.8333 | Holders received 1 bonus share for every 5 held. |
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout.
Company details
- NSE symbol
- CUPID
- BSE code
- 530843
- ISIN
- INE509F01029
- Industry
- Personal Products
- Website
- www.cupidlimited.com
- CIN
- L25193MH1993PLC070846
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1993
- Registered office
- A-68, M I D C, Sinnar, Malegaon, Nashik 422113, Maharashtra
- Share registrar
- Bigshare Services Pvt. Ltd
- Keeps the register of shareholders and handles transfers and dividend payments
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