Cupid Limited is a leading provider of Male Condoms, Female Condoms, and Lubricant Jelly, standing out as the sole company globally pre-qualified by WHO/UNFPA for both Male & Female condom supplies. Since its establishment in 1993 as a Public Limited Company, CUPID LIMITED has been listed on the BSE (Bombay Stock Exchange) since 1995 and on the NSE (National Stock Exchange) since 2016. Located in Nashik, Maharashtra, India, it boasts a state-of-the-art manufacturing facility.
Business Model:
Cupid’s state-of-the-art facility has a production capacity of over 480 million units for Male Condoms, 52 million units for Female Condoms, and 210 million sachets of Lubricant Jelly annually.
Nestled near Nashik in Sinnar, approximately 200 km east of Mumbai, the manufacturing facility serves as the driving force behind Cupid’s production capabilities.
In addition to its primary manufacturing hub, Cupid Ltd. houses a dynamic R&D center committed to pushing the boundaries of innovation in sexual health products.
Through collaborations with healthcare professionals, governments, and organizations, Cupid Ltd. actively promotes consistent condom use to combat HIV and other STDs, playing a pivotal role in spreading awareness about sexual health.
Company Valuation
Sector
Fast Moving Consumer Goods
NSE
CUPID
BSE
530843
Market Capitalization
Rs 3,126 Crore (As of April 02, 2024)
Book Value Per Share
Rs 124.61
Face Value
Rs 10
P/E ratio
92.47
52 week H/L
Rs. 2,800.00 / Rs. 241.70
Dividend Yield (%)
0.22
Shareholding Pattern
Particulars
Mar-23
Jun-23
Sept-23
Dec-23
Foreign Promoters %
0
0
0
0
Indian Promoters %
45.06
45.06
45.06
45.06
DIIs %
0
0.01
0
0
FIIs %
0.66
0.45
0.34
0.45
Others %
54.28
54.48
54.6
54.49
Ratios (Standalone)
Particulars
Mar 2019
Mar 2020
Mar 2021
Mar 2022
Mar 2023
ROCE %
28.79
49.98
29.19
17.5
26.6
ROE %
21.48
44.42
24.74
12.66
20.48
ROA %
17.76
30.92
18.28
10.59
17.41
Interest Coverage Ratio
195.91
101.73
68.85
183.31
54.69
D/E
0.03
0.3
0
0.06
0.04
P/B
2.44
1.83
2.14
2.23
2.02
Balance Sheet (Standalone Figures in Rs. Crores.)
(Year-end March)
Mar 2019
Mar 2020
Mar 2021
Mar 2022
Mar 2023
Share Capital
13
13
13
13
13
Reserves
63
90
118
129
153
Borrowings
2
31
0
9
6
Other Liabilities
15
30
22
23
17
Total Liabilities
93
165
152
174
189
Fixed Assets
21
26
29
31
36
Capital WIP
0
3
1
6
0
Investments (Long Term)
0
0
0
0
0
Other Assets
72
135
122
138
153
Total Assets
93
165
152
174
189
Profit & Loss (Standalone Figures in Rs. Crores.)
(Year-end March)
Mar 2019
Mar 2020
Mar 2021
Mar 2022
Mar 2023
TTM
Sales
85
160
144
133
159
150
Other Income
2
3
5
4
5
5
Expenses
65
108
108
110
118
120
Operating Profit
23
56
41
27
46
36
OPM%
27
35
29
21
29
23
Interest
0
1
1
0
1
1
Depreciation
2
3
3
3
3
4
Profit Before Tax
21
53
38
25
42
31
Tax%
27
24
24
30
25
18
Net Profit
15
40
29
17
32
24
PATM%
18
25
20
13
20
16
Cash Flows (Standalone Figures in Rs. Crores.)
(Year-end March)
Mar 2019
Mar 2020
Mar 2021
Mar 2022
Mar 2023
Cash from Operating Activity
18
19
42
10
33
Cash from Investing Activity
-14
-37
-9
-13
-22
Cash from Financing Activity
-5
16
-33
3
-11
Net Cash Flow
0
-2
0
-1
0
Q3 FY24 Result Update:
Earnings results for the third quarter and nine months ended December 31, 2023, were disclosed by Cupid Limited.
Third-quarter sales totaled INR 400.52 million, down from INR 417.64 million the previous year.
Revenue for the third quarter amounted to INR 407.8 million, compared to INR 429.15 million a year ago.
Net income for the third quarter was INR 88.64 million, down from INR 100.33 million a year ago.
Basic earnings per share from continuing operations for the third quarter stood at INR 6.65, down from INR 7.52 a year ago.
Diluted earnings per share from continuing operations for the third quarter were INR 6.61, compared to INR 7.52 a year ago.
For the nine months, sales were INR 1,081.91 million, compared to INR 1,178.29 million a year ago.
Revenue for the nine months amounted to INR 1,124.27 million, compared to INR 1,206.09 million a year ago.
Net income for the nine months was INR 161.38 million, compared to INR 232.47 million a year ago.
Basic earnings per share from continuing operations for the nine months were INR 12.1, down from INR 17.43 a year ago.
Diluted earnings per share from continuing operations for the nine months were INR 12.03, down from INR 17.43 a year ago.
Quarterly Results (Standalone Figures in Rs. Crores)
Particulars
Sep 2022
Dec 2022
Mar 2023
Jun 2023
Sep 2023
Dec 2023
Sales
45
43
41
35
34
40
Other Income
1
0
2
0
2
1
Expenses
33
29
31
32
29
28
Operating Profit
13
14
13
3
7
13
OPM%
29
33
30
9
21
32
Interest
0
0
1
0
0
0
Depreciation
1
1
1
1
1
1
Profit Before Tax
12
13
11
2
6
12
Tax%
30
24
26
3
20
24
Net Profit
9
10
8
2
5
9
PATM%
19
23
20
6
15
22
Conclusion: In conclusion, Cupid Limited emerges as a leader in the realm of sexual health products, propelled by its state-of-the-art manufacturing facility boasting substantial production capacities for Male Condoms, Female Condoms, and Lubricant Jelly. Its strategic location near Nashik amplifies its operational efficiency. Moreover, the company’s commitment to research and development, coupled with its collaborative efforts with healthcare entities and governments, positions Cupid Ltd. as a pivotal player in advocating and promoting consistent condom use for preventing HIV and other sexually transmitted diseases. With a robust fundamental analysis highlighting its innovation, production capabilities, and proactive engagement in fostering sexual health awareness, Cupid Limited appears poised for continued growth and positive impact in the global healthcare landscape.
