{"id":85469,"date":"2026-05-18T11:32:16","date_gmt":"2026-05-18T06:02:16","guid":{"rendered":"https:\/\/newswireindia.in\/index.php\/2026\/05\/18\/cupid-limited-surpasses-fy26-guidance-with-record-revenue-growth-of-93-percent-yoy-and-net-profit-growth-of-165-percent-yoy\/"},"modified":"2026-05-18T11:32:16","modified_gmt":"2026-05-18T06:02:16","slug":"cupid-limited-surpasses-fy26-guidance-with-record-revenue-growth-of-93-percent-yoy-and-net-profit-growth-of-165-percent-yoy","status":"publish","type":"post","link":"https:\/\/newswireindia.in\/index.php\/2026\/05\/18\/cupid-limited-surpasses-fy26-guidance-with-record-revenue-growth-of-93-percent-yoy-and-net-profit-growth-of-165-percent-yoy\/","title":{"rendered":"Cupid Limited Surpasses FY26 Guidance With Record Revenue Growth of 93 Percent YoY and Net Profit Growth of 165 Percent YoY"},"content":{"rendered":"
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Mumbai (Maharashtra) [India], May 18<\/strong>:\u00a0Cupid Limited (Cupid, The Company)<\/strong>\u00a0announced its strongest-ever quarterly performance in Q4 FY26 (quarter ended 31st March 2026), driven by strong execution, consistent demand momentum, and improved traction across key business segments.<\/span><\/p>\n

Building on this strong close to the year, the Company has entered FY27 with healthy business momentum, supported by a strong order book, improving execution visibility, and sustained demand across markets, providing confidence for continued growth ahead.<\/p>\n

Key Consolidated Financial Highlights<\/strong><\/p>\n

Consolidated Key Financial Highlights Q4 FY26 (YoY)<\/strong><\/p>\n

\u2013 Total Income of\u00a0\u20b9\u00a0132.04 Cr, YoY growth of 116%<\/p>\n

\u2013 Operating Income\u00a0\u20b9\u00a0119.96 Cr, YoY growth of 112%<\/p>\n

\u2013 EBITDA of\u00a0\u20b9\u00a037.52 Cr, YoY growth of 180%<\/p>\n

\u2013 PBT\u00a0\u20b9\u00a047.45 Cr, YoY growth of 197%<\/p>\n

\u2013 Net Profit of\u00a0\u20b9\u00a036.26 Cr, YoY growth of 215%<\/p>\n

Consolidated Key Financial Highlights Q4 FY26 (QoQ)<\/strong><\/p>\n

\u2013 Total Income of\u00a0\u20b9\u00a0132.04 Cr, YoY growth of 26%<\/p>\n

\u2013 Operating Income\u00a0\u20b9\u00a0119.96 Cr, YoY growth of 28%<\/p>\n

\u2013 EBITDA of\u00a0\u20b9\u00a037.52 Cr, YoY growth of 9%<\/p>\n

\u2013 PBT\u00a0\u20b9\u00a047.45 Cr, YoY growth of 10%<\/p>\n

\u2013 Net Profit of\u00a0\u20b9\u00a036.26 Cr, YoY growth of 10%<\/p>\n

Consolidated Key Financial Highlights FY26<\/strong><\/p>\n

\u2013 Total Income of\u00a0\u20b9\u00a0391.40 Cr, YoY growth of 93%<\/p>\n

\u2013 Operating Income of\u00a0\u20b9\u00a0357.71 Cr, YoY growth of 95%<\/p>\n

\u2013 EBITDA of\u00a0\u20b9\u00a0116.70 Cr, YoY growth of 180%<\/p>\n

\u2013 PBT of\u00a0\u20b9\u00a0142.47 Cr, YoY growth of 160%<\/p>\n

\u2013 Net Profit of\u00a0\u20b9\u00a0108.23 Cr, YoY growth of 165%<\/p>\n

Note: Percentage figures have been rounded off to the nearest whole number<\/em><\/p>\n

Historic Quarterly Performance & Growth Momentum<\/strong><\/p>\n

\u00b7Q4 FY26 stands as the strongest quarter in the Company\u2019s history<\/strong>, with Cupid Limited\u00a0surpassing its FY26 annual guidance of\u00a0<\/strong>\u20b9<\/strong>335 Cr revenue and\u00a0<\/strong>\u20b9<\/strong>100 Cr net profit<\/strong>, reflecting exceptional business momentum and execution strength<\/p>\n

\u00b7Strong performance was driven by scale-up across key business segments, supported by\u00a0improved operating leverage, efficient execution and sustained demand<\/strong>\u00a0momentum<\/p>\n

\u00b7Healthy traction continues across domestic and international markets,<\/strong>\u00a0providing strong visibility for continued growth ahead<\/p>\n

\u00b7Strongest ever order pipeline<\/strong>\u00a0continues across global institutional agencies, government procurement programs and FMCG channels<\/p>\n

Product Mix & Business Scale-Up<\/strong><\/p>\n

\u00b7Male condoms<\/strong>\u00a0remained the largest revenue contributor with revenue contribution\u00a0of ~<\/strong>\u20b9<\/strong>181.11 Cr during FY26<\/strong><\/p>\n

\u00b7Female condoms contributed ~<\/strong>\u20b9<\/strong>60.72 Cr<\/strong>, supported by increasing global demand and expanding procurement opportunities<\/p>\n

\u00b7Newly launched FMCG Products contributed ~\u20b984.26 Cr<\/strong>\u00a0during FY26 and continues to scale rapidly with expanding retail distribution and consumer reach<\/p>\n

\u00b7IVD kits and Personal Lubricant contributed ~<\/strong>\u20b9<\/strong>24.97 Cr<\/strong>\u00a0with gradual scale-up and increasing market opportunities<\/p>\n

\u00b7Diversified product portfolio across healthcare, wellness, diagnostics and FMCG categories continues to strengthen the overall business mix<\/p>\n

Export Business & Global Expansion<\/strong><\/p>\n

\u00b7Exports contribute\u00a0<\/strong>\u20b9<\/strong>208.13 Cr, accounting for 59.30% of revenue<\/strong>. The Company exports its products to over 125 countries, with a strong presence across Africa and other high-demand international markets<\/p>\n

\u00b7Sharp focus continues on strengthening exports business and\u00a0expanding international presence across regulated as well as emerging markets<\/strong><\/p>\n

\u00b7Global footprint expansion of approximately 35% is targeted<\/strong>\u00a0over the coming year through deeper market penetration, strategic partnerships and increasing participation in international procurement programs<\/p>\n

\u00b7Increasing\u00a0penetration into regulated markets<\/strong>\u00a0continues to be\u00a0supported by certifications, technological capabilities and long-standing global relationships<\/strong><\/p>\n

\u00b7Healthy institutional demand<\/strong>\u00a0and\u00a0repeat business from leading global procurement agencies<\/strong>\u00a0continue to support long-term international growth visibility<\/p>\n

\u00b7USD\/INR exchange rates<\/strong>\u00a0currently remain among the\u00a0highest levels witnessed historically<\/strong>, expected to act\u00a0as a favourable tailwind given the Company\u2019s meaningful export exposure<\/strong>\u00a0and growing international operations<\/p>\n

FMCG Expansion & Style Baazar Ecosystem<\/strong><\/p>\n

\u00b7A<\/strong>ggressive expansion of FMCG distribution footprint across India continues, supported by increasing consumer penetration and strengthening retail access<\/p>\n

\u00b7Strategic investment of\u00a0<\/strong>\u20b9<\/strong>331.53 Cr in Baazar Style Retail Limited<\/strong>\u00a0significantly strengthens FMCG distribution ecosystem and market reach<\/p>\n

\u00b7Initial deployment of\u00a0<\/strong>\u20b9<\/strong>82.88 Cr representing 25% of the total investment has already been completed<\/strong>\u00a0with allotment of 1,01,00,000 warrants<\/p>\n

\u00b7Access to a rapidly expanding retail network of 250+ stores<\/strong>\u00a0is expected to improve shelf presence, last-mile reach and product availability across key markets<\/p>\n

\u00b7Planned expansion of the\u00a0Style Baazar network to 500+ stores over the next 2\u20133 years<\/strong>\u00a0is expected to significantly enhance consumer touchpoints and brand visibility<\/p>\n

\u00b7Faster rollout of the expanding FMCG portfolio is expected through stronger store-level execution and consumer insights<\/p>\n

\u00b7The\u00a0Style Bazaar ecosystem is expected to support approximately\u00a0\u20b9150 Cr incremental revenue in FY27<\/strong>\u00a0with\u00a0scale-up potential to approximately\u00a0\u20b9500 Cr annual revenue over the medium term<\/strong><\/p>\n

\u00b7Integrated go-to-market strategy combining manufacturing scale, brand building and retail distribution capabilities is expected to support long-term FMCG growth<\/p>\n

Strategic Investments & Ecosystem Expansion\u00a0<\/strong><\/p>\n

\u00b7Strategic investments in GII Healthcare Fund<\/strong>\u00a0and\u00a0Baazar Style Retail Limited<\/strong>\u00a0are expected to create\u00a0significant long-term value through both standalone appreciation<\/strong>\u00a0and\u00a0broader ecosystem advantages<\/strong><\/p>\n

\u00b7Investments remain aligned with the broader vision of strengthening presence across healthcare, wellness, FMCG and retail distribution ecosystems<\/p>\n

\u00b7These strategic initiatives are\u00a0expected to create additional avenues for long-term value creation<\/strong>\u00a0while supporting future business scale-up opportunities<\/p>\n

Nitrile Female Condom & Dual Polymer Expansion\u00a0<\/strong><\/p>\n

\u00b7Development Program for nitrile female condoms commenced during the quarter<\/strong>, targeting a\u00a0premium global segment historically supplied by a single global manufacturer<\/strong><\/p>\n

\u00b7Global\u00a0female condom market<\/strong>\u00a0was estimated at approximately\u00a0$770 Mn in 2024<\/strong>\u00a0and is projected to\u00a0exceed approximately $1.2 Bn by 2030<\/strong>, with\u00a0nitrile positioned as a premium latex-free category<\/strong><\/p>\n

\u00b7Growing demand from global procurement agencies for supply diversification<\/strong>\u00a0continues to create strong opportunities within the segment<\/p>\n

\u00b725\u201335% Higher pricing compared to latex alternatives,\u00a0along with strong\u00a0technical, regulatory, and supply chain entry barriers,\u00a0<\/strong>continue<\/span> to make the segment strategically attractive<\/p>\n

\u00b7New manufacturing facility<\/strong>\u00a0has been designed with\u00a0integrated dual polymer dipping capability<\/strong>\u00a0enabling\u00a0production of both Natural Rubber Latex and Nitrile condoms<\/strong>\u00a0on dedicated lines\u00a0without cross-contamination<\/strong><\/p>\n

\u00b7Integrated dual polymer capability positions Cupid as the\u00a0only condom manufacturer in India with manufacturing capabilities across male condoms, female condoms and nitrile female condoms<\/strong><\/p>\n

\u00b7Upon full commissioning, expanded manufacturing capacity is expected to support\u00a0annual production of approximately 1.25 Bn male condoms and approximately 125 Mn female condoms\u00a0<\/strong><\/p>\n

Branding & Technology Positioning<\/strong><\/p>\n

\u00b7\u201cMade in India with Japanese Quality\u201d initiative<\/strong>\u00a0continues to strengthen the Company\u2019s global positioning and brand differentiation<\/p>\n

\u00b7Collaboration with Asia\u2019s oldest latex condom manufacturer<\/strong>\u00a0further strengthens technological and manufacturing capabilities<\/p>\n

\u00b7Branding strategy remains focused on enhancing positioning across domestic consumers as well as global OEM partners<\/p>\n

Diagnostics & Regulatory Certifications<\/strong><\/p>\n

\u00b7During FY26,\u00a0CE (EU IVDR)<\/strong>\u00a0certification was received for\u00a0HIV 1&2 Antibody, Hepatitis B,<\/strong>Syphilis and Pregnancy test kits<\/strong>.<\/p>\n

\u00b7Certification under\u00a0EU IVDR 2017\/746 represents<\/strong>one of the most stringent global regulatory standards<\/strong>\u00a0for diagnostics products<\/p>\n

\u00b7Access to European Economic Area markets and other CE recognised geographies<\/strong>\u00a0is expected to significantly strengthen international opportunities<\/p>\n

\u00b7Eligibility for government tenders, multilateral healthcare programs<\/strong>\u00a0and large-scale public health screening initiatives globally has further strengthened following the certification<\/p>\n

Raw Material Security & Operating Environment<\/strong><\/p>\n

\u00b7Raw material inventory<\/strong>\u00a0remains comfortably\u00a0secured for well over six months<\/strong>\u00a0across key product categories,\u00a0including inputs linked to crude derivatives<\/strong><\/p>\n

\u00b7Strategic inventory positioning is expected to support\u00a0operational stability, uninterrupted execution<\/strong>\u00a0and\u00a0margin resilience<\/strong>\u00a0across domestic and international markets<\/p>\n

\u00b7Product price revisions undertaken<\/strong>\u00a0remain broadly aligned with prevailing inflationary conditions<\/p>\n

\u00b7Demand across global B2B and India focused B2C FMCG<\/strong>\u00a0businesses continues to remain robust and buoyant, supported by expanding distribution, sustained institutional demand and growing consumer penetration<\/p>\n

\u00b7Strong raw material security and favourable global demand trends<\/strong>\u00a0continue to position the business well to navigate inflationary cycles while sustaining growth momentum\u00a0<\/p>\n

Strategic Growth Outlook<\/strong><\/p>\n

Building on strongest ever operational momentum, expanding FMCG distribution network, growing international opportunities and ongoing capacity expansion initiatives, Cupid Limited remains strategically positioned for significant scale-up over the next three financial years.<\/p>\n

Medium Term Financial Targets \u2013\u00a0<\/strong><\/p>\n

\u2022\u00a0FY27:<\/strong>\u00a0Revenue Target\u00a0\u20b9600 Cr | Net Profit Target\u00a0\u20b9180 Cr
\u2022\u00a0FY28<\/strong>: Revenue Target\u00a0\u20b9875 Cr | Net Profit Target\u00a0\u20b9275 Cr
\u2022 FY29:<\/strong>\u00a0Revenue Target\u00a0\u20b91,150 Cr | Net Profit Target\u00a0\u20b9390 Cr<\/p>\n

Key Growth Drivers \u2013\u00a0<\/strong><\/p>\n

\u00b7Rapid expansion of FMCG distribution footprint across India<\/p>\n

\u00b7Increasing contribution from high-margin B2C business<\/p>\n

\u00b7Capacity expansion across male and female condom portfolio<\/p>\n

\u00b7Growth in global institutional and government tenders<\/p>\n

\u00b7New product additions across lubricants, wellness and diagnostics<\/p>\n

\u00b7Operating leverage benefits from scale and backward integration efficiencies<\/p>\n

\u00b7Continued focus on disciplined execution, margin expansion and long-term shareholder\u00a0value creation for shareholders<\/p>\n

\"\"<\/figure>\n

Commenting on the performance,\u00a0Mr. Aditya Kumar Halwasiya, Chairman and Managing Director,\u00a0said, \u201cWe have delivered a historic performance in FY26, surpassing our annual guidance and reporting revenue of\u00a0\u20b9\u00a0358\u00a0Cr and net profit of\u00a0\u20b9108\u00a0Cr. This performance reflects strong execution, improving operating leverage, and sustained demand across our businesses, resulting in our strongest-ever quarterly and full-year performance.<\/p>\n

During the quarter, we commenced the development Program for nitrile female condoms, entering a premium segment which has historically been supplied by a single global manufacturer. Backed by our dual polymer manufacturing capability, we are uniquely positioned as the only manufacturer in India with the ability to produce both latex and nitrile condoms, with a planned capacity of ~1.25 billion male condoms and ~125 million female condoms annually.<\/p>\n

We have also strengthened our global positioning through our \u2018Made in India with Japanese Quality\u2019 initiative, supported by our collaboration with one of Asia\u2019s oldest condom manufacturers, reinforcing our focus on quality and technological excellence.<\/p>\n

In diagnostics, we further strengthened our regulatory portfolio during FY26 with the receipt of CE EU IVDR certification for our HIV and Hepatitis B test kits, along with CE certification for our Syphilis and Pregnancy test kits. These approvals collectively enhance our access to regulated markets such as Europe while strengthening our participation in global public health programs.<\/p>\n

On the domestic front, our strategic investment of\u00a0\u20b9331.53 Cr in Baazar Style Retail significantly strengthens our FMCG distribution. We have already deployed\u00a0\u20b982.88 Cr, providing access to a retail network of over 260 stores, which is expected to scale beyond 500 stores over the next 2 to 3 years. This ecosystem is expected to generate ~\u20b9150 Cr incremental revenue in FY27 and scale up to ~\u20b9500 Cr annually over the medium term, while significantly improving our brand visibility and last mile reach.<\/p>\n

Looking ahead, with strong export momentum, a favorable currency environment, and a well-secured raw material position, we are confident of sustaining this growth trajectory and achieving our FY27 revenue target of \u20b9600 Cr with net margins above 30%, as we continue to build a scalable and globally competitive business.\u201d<\/p>\n

About Cupid Limited<\/strong><\/p>\n

Established in 1993, CUPID Limited, India\u2019s premier manufacturer and brand of male and female condoms, water based personal lubricants, IVD kits, deodorants, perfumes, almond hair oil, body oils, petroleum jelly and other FMCG Products. The company operates with a strong commitment to public health and well- being, maintaining ethical business practices aligned with international standards. In alignment with its strategic growth plans, the company has recently expanded its product offerings to include Fast-Moving Consumer Goods (FMCG) such as fragrance products (Eau De Parfums, Deodorants, Pocket Perfumes), personal care items (Toilet Sanitizers, Hair & Body Oils, Hair Removal Sprays, Face Wash), and other wellness solutions. In March 2024, the company completed a strategic land acquisition in Palava, Maharashtra, enabling it to amplify its production capacity by 1.5 times the existing output. As a result, the annual production capacity will be augmented by approximately 770 million male condoms and 75 million female condoms. The company has a prominent presence in international markets and is the first company in the world to attain WHO \/ UNFPA pre-qualification for both male and female condoms. CUPID currently exports its products to over 125 countries, with a substantial portion of its revenue generated from international markets. Furthermore, CUPID has established a long-term agreement with WHO \/ UNFPA. The company is listed on BSE (BSE: 530843) and NSE (NSE: CUPID).<\/p>\n

If you object to the content of this press release, please notify us at pr.error.rectification@gmail.com. We will respond and rectify the situation within 24 hours.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Mumbai (Maharashtra) [India], May 18:\u00a0Cupid Limited (Cupid, The Company)\u00a0announced its strongest-ever quarterly performance in Q4 FY26 (quarter ended 31st March 2026), driven by strong execution, consistent demand momentum, and improved traction across key business segments. Building on this strong close to the year, the Company has entered FY27 with healthy business momentum, supported by a […]<\/p>\n","protected":false},"author":1,"featured_media":85470,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[3],"class_list":["post-85469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/newswireindia.in\/index.php\/wp-json\/wp\/v2\/posts\/85469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newswireindia.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newswireindia.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newswireindia.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newswireindia.in\/index.php\/wp-json\/wp\/v2\/comments?post=85469"}],"version-history":[{"count":0,"href":"https:\/\/newswireindia.in\/index.php\/wp-json\/wp\/v2\/posts\/85469\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newswireindia.in\/index.php\/wp-json\/wp\/v2\/media\/85470"}],"wp:attachment":[{"href":"https:\/\/newswireindia.in\/index.php\/wp-json\/wp\/v2\/media?parent=85469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newswireindia.in\/index.php\/wp-json\/wp\/v2\/categories?post=85469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newswireindia.in\/index.php\/wp-json\/wp\/v2\/tags?post=85469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}