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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

₹149.30 3.45 (2.37%)

As on 10-Jun'26 11:38

Cupid Ltd (CUPID)

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

₹149.30 3.45 (2.37%)

As on 10-Jun'26 11:38

Key Metrics
Valuation Multiples
Market Cap
₹19,612 Cr.
Current Price
₹149.3
52-Week Low / High
₹18 / 146
TTM EPS
₹0.8
TTM Sales
₹358 Cr.
Book Value per Share
₹3.4
P/E Ratio
181.15
Higher than its 5-year historical median
Industry PE
45.8
Price to Book (P/B)
43.50
Higher than its 5-year historical median
Price to Sales (P/S)
54.83
Higher than its 5-year historical median
EV/EBITDA
129.47
Higher than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
18.27%
Outperforms industry median
Return on Capital Employed (ROCE)
17.05%
Outperforms industry median
Return on Assets (ROA)
11.83%
Operating Profit Margin
23.2%
Net Profit Margin
22.3%
Gross Profit Margin
32.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
6.88%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-17.65%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
2.71%
Asset Quality
Promoter Holding
46.03%
Pledged shares (%) of Promoter's holding (%)
24.79%
Reserves
₹325 Cr.
Equity
₹134.5 Cr.
Face Value
₹1
All Time Low / High
₹0.01 / 141.75

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 2.62%, compared to the industry median CAGR of 2.59%, indicating stable growth and maintaining its market share.
Q.1 Promoter shareholding and pledge status of Cupid Ltd?
Promoters hold 46.03% of the Cupid Ltd, with 24.79% of their stake pledged, indicating high 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 46% 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'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 79%71.5%42.9%28.8%50%29.1%17.5%26.6%22.4%17.1%-
Value Creation
Index
4.64.12.11.12.61.10.30.90.60.2-

Growth Parameters

Sales 61.283.680.685.5161144133159172184358
Sales YoY Gr.-36.8%-3.6%6%88.7%-10.7%-7.9%20%7.8%6.9%-
Adj EPS 0.10.20.10.10.30.20.10.200.30.8
YoY Gr.-25%-13.3%-15.4%172.7%-26.7%-40.9%84.6%-87.5%900%-
BVPS (₹) 0.30.40.50.60.811.11.30.21.83.4
Adj Net
Profit
15.520.617.115.239.829.617.331.639.940.4109
Cash Flow from Ops. 12.9203.418.418.841.910.232.77.8-11.1-
Debt/CF from Ops. 0.100.60.11.700.90.21.5-1.1-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 13%2.6%11.4%6.9%
Adj EPS 10.7%0%32.2%900%
BVPS23.6%18.5%19.4%1113.3%
Share Price 49.7% 131% 286.3% 637.3%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
51.545.728.621.544.425.212.720.41712.631.3
Op. Profit
Mgn %
41.440.533.724.132.525.617.325.929.523.234
Net Profit
Mgn %
25.424.621.217.824.720.51319.823.22230.5
Debt to
Equity
00000.300.100.10.10
Working Cap
Days
124106142172134167161133137201166
Cash Conv.
Cycle
665981935452797099170137

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales61848185161144133159172184
Operating Expenses + 36505365109108110118121142
Manufacturing Costs18242224623041443640
Material Costs8111420173034343338
Employee Cost 4566789111627
Other Costs 6101115234025293737
Operating Profit 25342721523623415142
Operating Profit Margin (%) 41.4%40.5%33.7%24.1%32.5%25.0%17.3%25.9%29.5%22.8%
Other Income + 21123545720
Exceptional Items 0000000000
Interest 0000100122
Depreciation 2222233334
Profit Before Tax 25322621533825425355
Tax 912961397111314
Profit After Tax 16211715402917324041
PAT Margin (%) 26.1%24.6%21.2%17.8%24.7%20.1%13.0%19.8%23.2%22.3%
Adjusted EPS (₹)0.10.20.10.10.30.20.10.20.00.3
Dividend Payout Ratio (%)20.90%21.60%29.30%35.10%15.10%20.70%34.70%21.10%0%0%

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
mw4me loader

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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 36546676103131142166204244
Share Capital 11111113131313131327
Reserves 2543556390118129153191217
Debt +1022310961213
Long Term Debt0000000000
Short Term Debt1022310961213
Minority Interest0000000000
Trade Payables2356221012901
Others Liabilities 12668811118104114
Total Liabilities 51637893165152174189320372

Fixed Assets

Net Fixed Assets +16161621262931365867
Gross Block363941485561657398111
Accumulated Depreciation20222527293234374045
CWIP 0000316006
Investments 05182221485469147103
Inventories3488161418191642
Trade Receivables13132223422530264867
Cash Equivalents flag 91949371921303969
Others Assets 95101019161491119
Total Assets 51637893165152174189320372

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 1320318194210338-11
PBT 25322621533825425355
Adjustment 2210-1-2-54-2-10
Changes in Working Capital -7-2-133-2115-1-2-30-43
Tax Paid -6-12-10-6-13-9-9-11-13-13
Cash Flow From Investing Activity + -1-5-9-14-37-9-13-22-8045
Capex -2-3-2-7-11-4-9-11-25-19
Net Investments 0-4-7-8-28-8-8-15-6049
Others 01112334516
Cash Flow From Financing Activity + -6-4-3-516-333-1199-1
Net Proceeds from Shares 0000000020
Net Proceeds from Borrowing 0000000000
Interest Paid -0-0-0-0-1-0-0-1-2-2
Dividend Paid -4-3-5-5-12-1-6-7-40
Others -1-12029-319-31021
Net Cash Flow 611-9-0-20-1-02732

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)52.8245.628.5721.4844.4224.7412.6620.4821.5118.27
ROCE (%)79.0171.4942.9428.7949.9929.0917.526.622.3617.05
Asset Turnover Ratio1.431.471.1411.250.910.810.880.680.53
PAT to CFO Conversion(x)0.810.950.181.20.481.450.591.030.2-0.27
Working Capital Days
Receivable Days6458.2080.5095.9073.208576.9064.3078.30114.40
Inventory Days20.6017.2027.203327.6038.2043.5042.3036.9057
Payable Days76.206897.70101.50300196.10119.10111.9049.306.30

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *56.2439.2246.3131.0340.5240.520.0036.1319.0424.79
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Cupid Ltd FAQs

The current trading price of Cupid on 10-Jun-2026 11:38 is ₹149.3.

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 09-Jun-2026 the market cap of Cupid stood at ₹19,611.9 Cr

The latest P/E ratio of Cupid as of 09-Jun-2026 is 181.2.

The latest P/B ratio of Cupid as of 09-Jun-2026 is 43.50.

The 52-week high of Cupid is ₹146.1 and the 52-week low is ₹17.65.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Cupid is ₹358 ( 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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