Thursday, September, 24,2026

Latest News

Cupid Limited Highlights Strong FY26 Performance & Expanding Growth Platform at 33rd AGM

Mumbai : Cupid Limited (“Cupid” or “the Company”), Bharat’s rapidly growing consumer wellness and personal care company with a strong global healthcare franchise, highlighted its strong FY2026 performance, expanding business platform and strategic priorities for the coming years at its 33rd Annual General Meeting.

Addressing shareholders, Mr. Aditya Kumar Halwasiya, Chairman & Managing Director, Cupid Limited, presented an overview of the Company’s FY26 performance, the progress of its consumer and international businesses, key strategic initiatives undertaken during the year, and the Company’s direction for FY27 and beyond.

Strong FY26 Performance

Cupid delivered strong growth during FY26, with total income increasing 93% to ₹391 crore from ₹203 crore, while profit after tax grew 165% to ₹108 crore from ₹41 crore. EBITDA increased 180%, net profit margin crossed 30%, and net worth rose from ₹342 crore to ₹451 crore.

The Company exceeded its initial FY26 guidance of ₹335 crore revenue and ₹100 crore profit and ended the year with its strongest quarter in history. The performance reflects the transformation driven over the last few years through new capabilities, wider market reach and focused strategic initiatives.

Two Growth Engines Supporting The Business

Cupid’s business continues to be driven by two complementary growth engines — its global healthcare business and Bharat consumer business.

The global business serves national health programmes, multilateral agencies and brand owners across international markets. Cupid is the first company in the world to receive WHO/UNFPA pre-qualification for both male and female condoms. During FY2026, exports reached ₹208 crore, accounting for close to 60% of revenue, across 125+ countries, with the Company’s order pipeline reaching its strongest level.

The consumer business includes condoms, personal lubricants and a growing portfolio of Consumer Healthcare and FMCG products. It contributed approximately ₹122 crore in FY26, including ₹84 crore from recently launched FMCG products. The Company’s growth strategy increasingly focuses on moving from global leadership to consumer scale, combining its established global healthcare business with the growth opportunity in Bharat’s consumer market.

Expanding Capacity and Product Capabilities

Cupid is developing nitrile capabilities, including a premium, latex-free nitrile female condom aimed at a global market expected to exceed $1.2 billion by 2030. With its dual-polymer lines at Palava, Cupid is developing the capability to manufacture both latex and nitrile condoms in Bharat.

The Company’s 170,000 sq. ft. Palava facility is scheduled for commissioning in the next quarter and is expected to support Cupid’s total capacity of approximately 1.25 billion male condoms and 125 million female condoms annually at full capacity. The facility represents Cupid’s largest manufacturing investment.

Cupid also received CE certification under the European IVDR for its HIV, Hepatitis B, Syphilis and pregnancy test kits, supporting access to European markets and global public-health screening programmes.

Expanding Consumer Distribution

Cupid committed ₹331.53 crore to Baazar Style Retail, providing access to more than 280 stores, with the network expected to cross 500 stores over the next two to three years.

The initiative is expected to contribute approximately ₹150 crore of revenue in FY27, with potential to scale towards ₹500 crore annually in the next few years.

The Company has also strengthened its positioning through its “Made in India with Japanese Quality” initiative, supported by collaboration with one of Asia’s oldest condom manufacturers.

Strategic Developments After FY26

The AGM also highlighted two important developments announced after the close of FY26.

In July 2026, Cupid made an additional USD 5 million follow-on investment in GII Healthcare Investment Limited, fully funded through internal accruals. The investment strengthens Cupid’s strategic relationship with the platform and provides greater exposure to the broader GCC healthcare opportunity, including healthcare assets in Saudi Arabia.

In August 2026, the Board gave in-principle approval for a proposed manufacturing venture in South Africa with a local partner. Under the proposed structure, Cupid is expected to hold up to 49%, while the South African partner and/or qualifying local shareholders would hold at least 51%.

The proposed asset-light model would see Cupid contribute its manufacturing expertise, technical know-how, technology transfer, quality systems and training, while the local partner would arrange the capital expenditure, working capital and operating funding. The proposed facility could strengthen Cupid’s presence in South Africa and provide a platform for wider expansion across Africa and, subject to approvals, additional international markets.

Strengthening shareholder value and market visibility

Cupid completed a bonus issue in January 2026, was included in the BSE Group A category in July 2026, and subsequently joined the FTSE Emerging Markets All Cap Index, effective September 21, 2026.

The Company continues to maintain a robust balance sheet and strong capital position, while capital allocation remains focused on opportunities that support growth, distribution and long-term shareholder value.

FY2027 guidance and medium-term direction

Cupid entered FY27 with strong momentum. In the June quarter, total income grew 142% to ₹157 crore, while profit after tax increased 194% to ₹44 crore, with an EBITDA margin of 39%.

Based on the strength of the quarter, order pipeline and momentum across both business engines, the Company has raised its FY27 guidance to:

  • Revenue: ₹725–750 crore

  • Net Profit: ₹210–225 crore

For the medium term, the Company is working towards:

  • FY28 Revenue: ₹1,085 crore

  • FY29 Revenue: ₹1,500 crore

The growth plan is supported by a wider distribution network across Bharat, increasing contribution from consumer products, new manufacturing capacity, opportunities from global tenders and a broader international manufacturing and healthcare platform.

Building a larger and more diversified healthcare and consumer platform

Cupid’s strategic direction remains focused on building a larger and more diversified FMCG and healthcare platform, while maintaining discipline on profitability, governance, capital allocation and sustainable growth.

The Company continues to expand across manufacturing, consumer distribution, international healthcare markets, new product development and global partnerships, with the objective of building on its FY26 performance and creating a stronger platform for long-term growth.

Commenting on the Development, Mr. Aditya Kumar Halwasiya, Chairman & Managing Director, Cupid Limited, said, “FY26 marked an important phase in Cupid Limited’s growth journey, with strong financial performance reflecting the progress made in strengthening our core business, expanding our consumer portfolio and building new capabilities. Our global healthcare franchise continues to provide a strong foundation, while the growing Consumer Healthcare and FMCG business is opening a larger opportunity in Bharat.

As we move into FY27, our focus remains on scaling the business in a disciplined manner. The expansion of manufacturing capacity at Palava, deeper consumer distribution, new product capabilities and our growing international presence are creating multiple avenues for long-term growth. The recent strategic initiatives in GII Healthcare and the proposed South African manufacturing venture further support our broader international ambitions.

With a stronger platform, increased capacity and a clear growth roadmap, we remain focused on building a larger and more diversified healthcare and consumer business while maintaining discipline on profitability, governance and capital allocation. Our objective is to convert the opportunities ahead into sustainable long-term value for all our stakeholders.”

About Cupid Limited

Established in 1993, Cupid Limited is one of Bharat’s leading healthcare and consumer wellness companies, engaged in the manufacturing and marketing of male and female condoms, water-based personal lubricants, IVD kits and a growing portfolio of Consumer Healthcare & FMCG products. The Company operates with a strong commitment to public health and quality, maintaining ethical business practices aligned with international standards.

Cupid’s Consumer Healthcare & FMCG portfolio includes fragrance products (Eau De Parfums, Deodorants and Pocket Perfumes), personal care products (Hair Removal Sprays, Face Wash, Hair & Body Oils, Toilet Sanitizers), wellness products, IVD kits, personal lubricants and other consumer healthcare offerings. The Company continues to strengthen its domestic presence through an expanding network across modern trade, organised retail and pharmacy channels, enabling deeper market penetration across India.

The Company is also expanding its manufacturing capabilities through its upcoming Palava manufacturing facility, which will significantly enhance production flexibility and support the growing demand across both international B2B healthcare and domestic Consumer Healthcare & FMCG businesses.

Cupid has a strong international presence with exports to 125+ countries and is the first company in the world to receive WHO/UNFPA prequalification for both male and female condoms. The Company serves a diversified global customer base through PFSCM, WHO/UNFPA, institutional procurement programmes, government tenders and private export markets, reinforcing its position as a trusted global healthcare supplier.

Cupid Limited is listed on the BSE (530843) and NSE (CUPID).

Disclaimer: Certain statements in this document that are not historical facts are forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

Related News

visit e-papers

Daily Astro

24-09-2026

image

Aries

Ganesha says it will be an important day for you, Aries. Your energy and confidence are ready to take you to new heights. Today you will be able to express your thoughts with clarity, which will increase your communication skills. New opportunities may arise in the working areas, which you have to be ready to take advantage of. In social life, you can make new meetings, which will prove beneficial for you in the future. This day will be good for solving family issues, and you will be able to establish better relations with your close ones. In the field of health, take care of your routine and resort to yoga or meditation to relieve mental stress. Controlling your expenses will be a smart move, as any sudden financial need may arise. Overall, this day is for you to stay positive, just use your insight and energy properly.

image

Pisces

Ganesha says it is going to be a positive day for you. Your sensitivity and intuition will flourish today, allowing you to establish better connections between yourself and others. It is time to connect with someone or refresh old memories. Try to communicate with people close to you, as it will strengthen your relationships. In the field of work, your creativity will be cyclical today. If you are working on a project, your ideas will be new and full of innovation. Do not be afraid to share your ideas, it will give you positive feedback from your colleagues. In terms of financial condition, avoid any big investments. Small expenses will prove to be justified but think well before making any big decisions for the long term. In terms of health, focus on a balanced diet and regular exercise. For mental health, practicing meditation or yoga will help keep you stress-free.

image

Aquarius

Ganesha says new opportunities are likely to open up for you. You will be in a position to take your creative abilities to new heights. This is the time to share your ideas and make new plans. Your friends and family will support your ideas, so it will be beneficial to take their advice into account. Positive changes are possible in business. This is the right time to work on an important project. You will get an opportunity to use your skills and knowledge properly. But, be careful; in some cases, you will need to control your emotions. In personal life, relationships will deepen. You will try to spend more time with your loved ones. This is a good time for love and companionship. Enjoy emotional moments that will make your relationships stronger. Be health conscious. Dedication to yoga and meditation will give you mental peace. These activities will keep not only your body but also your mind active. Overall, today will be full of possibilities for you. Stay committed to your dreams and work on them.

image

Capricorn

Ganesha says your day is full of some new possibilities. You will experience grace and stability in your actions. This is the time to focus on your goals and work with determination to pursue your plans. You are likely to get success in your work, especially if you maintain your hard work and dedication. Positive changes can also be seen in your relationships. You will get a chance to spend time with family and listen to them, which will increase mutual understanding and depth. Focus on communication, as it will make your relationships stronger. However, it is also time to make monthly plans. Take care of your financial matters and try to save. This is the time when you can take concrete steps for your future. Your health condition is likely to remain normal but take some rest. Maintaining a mental balance will be important for you. Stay positive and keep faith in your actions!

image

Sagittarius

Ganesha says today will be full of new possibilities and positive energy for you. You will feel a rise in your confidence, which will keep you open to new opportunities. This is the right time to make an important decision. Your spirituality and intuition will be strong, which will enable you to understand and face difficulties. Spending time with friends and family will awaken a sense of happiness and satisfaction in your mind. Relationships with colleagues at work can take a new direction. Cooperation and communication will help solve problems. If you face an obstacle or challenge, remember that you can overcome it. In terms of health, you may need to make a little improvement in your routine. Regular exercise and a balanced diet will give you freshness and energy. Strengthening social relationships and contacting new people will also be beneficial today. This is the time for self-growth and positive change for you, so recognize the energy within you and use it properly.

image

Scorpio

Ganesha says today will be full of enthusiasm and energy. You will move towards achieving your goals, and your hard work will pay off. Social life will also be active; you will get a good chance to spend time with friends and family. In terms of health, take a little caution. Focusing on meditation and exercise will help reduce mental stress. This is also a good time to take up a new hobby, which can unleash your creativity. Take wise steps in terms of money. Make informed decisions while investing. For potential financial gains, take a look at past projects again. Your career is showing good signs of progress. Your ideas may be appreciated at the workplace, which will increase your confidence. Still, some issues may require restraint. Overall, today will prove to be positive and auspicious for you. Spend it with pride with your loved ones.

image

Libra

Ganesha says today will be a very auspicious and positive day. You will get a chance to clarify your thoughts, which will bring stability to your personal and professional relationships. Your communication skills will increase, and this will open the doors of new possibilities for you. Your creativity and aesthetic sense will be especially strong today. If you are associated with any art or design, your work will be appreciated. This is the right time to express your feelings. If you are confused about a decision, trust your intuition; it will show you the right path. In terms of health, small changes can make your life better. Focus on regular exercise and a balanced diet. In love and relationships, a new understanding will develop, which will strengthen the mutual bond even more. Overall, this day is a sign of positive changes and new beginnings for you. Stay focused on your goals and recognize your inner strengths.

image

Virgo

Ganesha says today is a suitable day to highlight your cognitive abilities and business skills. Today, you will be full of clarity and precision in your actions, which will increase your value among your colleagues and superiors. There is a possibility of bringing some changes to your routine, which will bring positive results for you. This is a good time to improve relations with family members. Try to resolve any old disputes, and keep communication open. In terms of health, meditation and yoga will bring mental peace. Also, take some time out of your routine for exercise. From a financial point of view, this is the right time to make a good plan for the right investment. Take a good look at the options available to you and make a wise decision. Overall, today will prove to be a day of new possibilities and positive changes for you. Be full of confidence and stay focused on your goals.

image

Leo

Ganesha says today will be a day full of energy and inspiration. Your confidence will increase and your thoughts will come out with clarity. On this day, you will be able to see some new possibilities in your career, which will bring you hard work. Mutual understanding and harmony will increase your relationship, which will create a happy atmosphere among the family. This is a great time to express your thoughts clearly, so do not hesitate to communicate with your partner or friends. It is important to be health conscious, a little exercise and meditation will maintain your mental and physical health. Overall, this day will bring activity and positivity for you, so make the most of all the opportunities!

image

Cancer

Ganesha says it will be a day of information and communication for you. Your mind will be full of ideas and you will be able to express your ideas well. There is a possibility of some new opportunities in professional life, which can prove beneficial for you. It is a good time to strengthen relationships with your colleagues, so work together at the workplace. Your emotional state will also be strong. Time spent with family will give you satisfaction. If you have any old problem going on, then the right time is coming to solve it. However, you need to keep your emotions under control, so that you do not get agitated over small things. In terms of health, try to practice yoga and meditation. It will empower you both mentally and physically. Take informed decisions in financial matters; do not rush into any investments. In summary, this day will be all about communication and cooperation, which will lead to positive changes for you.

image

Gemini

Ganesha says there will be a new energy and freshness in your thoughts, which will make your personality even more attractive. Social contacts are likely to increase, which will expand your network. You will be inspired to spend blissful time with your friends and family. Some positive changes can also be seen in the business sector. The results of your hard work will gradually start coming, and this will motivate you to move forward. Keep in mind that while sharing your ideology, work with empathy, this will strengthen your relationship with colleagues. It is important to be health conscious. A little attention and relaxation will give you mental freshness. Practicing yoga or meditation will be beneficial for you. This day will be full of positivity and new possibilities for you. Express your mind openly and do not hesitate to adopt new ideas.

image

Taurus

Ganesha says it will prove to be a positive day for you, Taurus. You will feel energetic and full of confidence. The time has come to reap the fruits of your hard work and efforts. The workload may stress you for a while, but you will face all the challenges recognizing your strengths. Sweetness will also remain in your relationships. Spending time with your family and friends will be a source of joy for you. Conversation with someone special can give you a new vision and promote mutual understanding. A special occasion may be organized among friends or family, which will bring happiness and harmony to you. Moments spent with loved ones will give you mental peace. It is important to be health conscious. A little exercise or yoga will give peace to your mind and energy to your body. Your day will be full of happiness and positivity, just keep your thoughts and emotions balanced.

Gallery

24-09-2026