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Cupid Ltd (CUPID)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 530843 NSE: CUPID Household & Personal Products | Small Cap | Cupid Share Price

₹283.25 3.55 (1.27%)

As on 04-Sep'26 16:59

Cupid Ltd (CUPID)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 530843 NSE: CUPID Household & Personal Products | Small Cap | Cupid Share Price

₹283.25 3.55 (1.27%)

As on 04-Sep'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹38,088 Cr.
Current Price
₹283.3
52-Week Low / High
₹33 / 299
TTM EPS
₹1
TTM Sales
₹453 Cr.
Book Value per Share
₹3.7
P/E Ratio
277.18
Higher than its 5-year historical median
Industry PE
43.1
Price to Book (P/B)
77.01
Higher than its 5-year historical median
Price to Sales (P/S)
84.16
Higher than its 5-year historical median
EV/EBITDA
198.35
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
31.18%
Outperforms industry median
Return on Capital Employed (ROCE)
33.93%
Outperforms industry median
Return on Assets (ROA)
23.39%
Operating Profit Margin
32.7%
Net Profit Margin
30.27%
Gross Profit Margin
41.2%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
94.92%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
175.8%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
164.5%
Asset Quality
Promoter Holding
46.24%
Pledged shares (%) of Promoter's holding (%)
8.03%
Reserves
₹360 Cr.
Equity
₹134.5 Cr.
Face Value
₹1
All Time Low / High
₹0.01 / 298.95

Cupid stock performance

Key Ratios
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Check Before You Invest

Valuation

Overvalued

Price Trend

Strong
Q.1 Is Cupid Ltd a good quality company?
Cupid Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Cupid Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Cupid Ltd vs industry peers?
Cupid Ltd revenue CAGR is 19.95%, compared to the industry median CAGR of 5.58%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Cupid Ltd?
Promoters hold 46.24% of the Cupid Ltd, with 8.03% of their stake pledged, indicating low pledge risk.
Q.1 Stock return of Cupid Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 60.4% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Cupid Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 71.5%42.9%28.8%50%29.1%17.5%26.6%22.4%17.1%33.9%-
Value Creation
Index
4.12.11.12.61.10.30.90.60.21.5-

Growth Parameters

Sales 83.680.685.5161144133159172184358453
Sales YoY Gr.--3.6%6%88.7%-10.7%-7.9%20%7.8%6.9%94.9%-
Adj EPS 0.20.10.10.30.20.10.200.30.81
YoY Gr.--13.3%-15.4%172.7%-26.7%-40.9%84.6%-87.5%900%166.7%-
BVPS (₹) 0.40.50.60.811.11.30.21.83.43.7
Adj Net
Profit
20.617.115.239.829.617.331.639.940.4107137
Cash Flow from Ops. 203.418.418.841.910.232.77.8-11.146.1-
Debt/CF from Ops. 00.60.11.700.90.21.5-1.11.1-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 17.5%20%30.9%94.9%
Adj EPS 20.4%29.5%49.4%166.7%
BVPS26.6%27.9%38.9%84.1%
Share Price 60.6% 160.3% 321.6% 707%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
45.728.621.544.425.212.720.41712.62729
Op. Profit
Mgn %
40.533.724.132.525.617.325.929.523.232.735.9
Net Profit
Mgn %
24.621.217.824.720.51319.823.22229.930.3
Debt to
Equity
0000.300.100.10.10.1-
Working Cap
Days
106142172134167161133137201167166
Cash Conv.
Cycle
5981935452797099170119137

Valuation of Cupid - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *39.2246.3131.0340.5240.520.0036.1319.0424.798.03
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales848185161144133159172184358
Operating Expenses + 505365109108110118121142243
Manufacturing Costs24222462304144364054
Material Costs111420173034343338106
Employee Cost 56678911162731
Other Costs 10111523402529373752
Operating Profit 342721523623415142115
Operating Profit Margin (%) 40.5%33.7%24.1%32.5%25.0%17.3%25.9%29.5%22.8%32.2%
Other Income + 112354572035
Exceptional Items 0000000000
Interest 0001001223
Depreciation 2222333345
Profit Before Tax 322621533825425355142
Tax 1296139711131434
Profit After Tax 211715402917324041108
PAT Margin (%) 24.6%21.2%17.8%24.7%20.1%13.0%19.8%23.2%22.3%30.3%
Adjusted EPS (₹)0.20.10.10.30.20.10.20.00.30.8
Dividend Payout Ratio (%)21.60%29.30%35.10%15.10%20.70%34.70%21.10%0%0%0%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 546676103131142166204244450
Share Capital 111113131313131327134
Reserves 43556390118129153191217316
Debt +02231096121348
Long Term Debt00000000012
Short Term Debt02231096121336
Minority Interest0000000000
Trade Payables35622101290130
Others Liabilities 66881111810411425
Total Liabilities 637893165152174189320372553

Fixed Assets

Net Fixed Assets +16162126293136586767
Gross Block3941485561657398111117
Accumulated Depreciation22252729323437404550
CWIP 00031600625
Investments 518222148546914710375
Inventories48816141819164270
Trade Receivables132223422530264867101
Cash Equivalents flag 1949371921303969186
Others Assets 510101916149111929
Total Assets 637893165152174189320372553
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 20318194210338-1146
PBT 322621533825425355142
Adjustment 210-1-2-54-2-8-27
Changes in Working Capital -2-133-2115-1-2-30-45-37
Tax Paid -12-10-6-13-9-9-11-13-13-32
Cash Flow From Investing Activity + -5-9-14-37-9-13-22-804528
Capex -3-2-7-11-4-9-11-25-19-25
Net Investments -4-7-8-28-8-8-15-604935
Others 111233451618
Cash Flow From Financing Activity + -4-3-516-333-1199-135
Net Proceeds from Shares 0000000200
Net Proceeds from Borrowing 00000000012
Interest Paid -0-0-0-1-0-0-1-2-1-2
Dividend Paid -3-5-5-12-1-6-7-400
Others -12029-319-3102-025
Net Cash Flow 11-9-0-20-1-02732110
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)45.628.5721.4844.4224.7412.6620.4821.5118.2731.18
ROCE (%)71.4942.9428.7949.9929.0917.526.622.3617.0533.93
Asset Turnover Ratio1.471.1411.250.910.810.880.680.530.77
PAT to CFO Conversion(x)0.950.181.20.481.450.591.030.2-0.270.43
Working Capital Days
Receivable Days58.2080.5095.9073.208576.9064.3078.30114.4085.60
Inventory Days17.2027.203327.6038.2043.5042.3036.905757
Payable Days6897.70101.50300196.10119.10111.9049.306.3054.70

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Cupid Ltd FAQs

The current trading price of Cupid on 04-Sep-2026 16:59 is ₹283.2.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Sep-2026 the market cap of Cupid stood at ₹38,087.5 Cr

The latest P/E ratio of Cupid as of 03-Sep-2026 is 277.2.

The latest P/B ratio of Cupid as of 03-Sep-2026 is 77.01.

The 52-week high of Cupid is ₹298.9 and the 52-week low is ₹32.76.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Cupid is ₹453 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Cupid Ltd is a good quality company.

The key valuation ratios of Cupid Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Cupid Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Cupid Ltd

Cupid Ltd. was founded in collaboration with world leader Green mate Corporation, is a leading manufacturer of quality male condoms. It commenced commercial production in Jan 1997 under the strict supervision and training by Korean Technicians. Headquartered in Mumbai, it has one of the largest manufacturing facilities in India. The company has its marketing offices in New Delhi, India and Cleveland, USA. Cupid Ltd. also has USA FDA approval to export its products to customers in United States.

Cupid manufactures and markets varieties of Male and Female Condoms, Water Based Lubricant, Latex Dental Dams and Probe Covers. Cupid has a diverse product basket available in over 25 countries worldwide.

The  ultra modern facility having current capacity of 360 million pieces per annum with pollution control measure and expanding is located about 200 km. from Mumbai, near the scenic resort town of Nasik. Cupid Ltd. is public limited company listed in Bombay Stock Exchange (BSE) since 1995.

Cupid Ltd. employs 250+ manpower with wide experience in production, maintenance & quality control working in three shifts having 24 hour operations. There is a dedicated team of quality personnel independent of production staff to ensure that each and every step of production follows the rigorous quality guidelines followd based on written GMP ( Good Manufacturing Practice) and documented procedure.

Product range of the company includes:

Male Condoms

  • Plain Condoms in 49 mm and 53 mm width
  • Dotted Condoms in 52+/-2 mm width
  • Ribbed Condoms in 52+/-2 mm width
  • Multi-textured Condoms in 52+/-2 mm width
  • Extra Large Condoms
  • Specialty Condoms for Extra Pleasure
  • Ultra Thin Condoms
  • Extra Strong Condoms - to Cater MSM Community

Female Condoms

  • Female Condom Natural Color
  • Female Condom Pink Color

Water Based Lubricant

Latex Dental Dams

Probe Covers

Achievements/ recognition

  • ISO 9001:2000
  • CE Certificate
  • USFDA 510K Certificate   
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