Cupid

Nashik, India Founded: 1993 • Age: 33 yrs Listed
Contract manufacturer of male female condoms

About Cupid

Cupid is a publicly listed company based in Nashik (India) founded in 1993. Contract manufacturer of male female condoms. The company has 243 employees. Its website cupidlimited.com draws about 58 thousand monthly visits. Its Indian entity Cupid Limited reported revenue of β‚Ή391 Cr. Cupid offers products and services including Male Condom, Female Condom, Water Based Lubricant Jelly, IVD Products, and CupiSAFE Toilet Seat Sanitizer. Its focus areas include Retail, Contract Manufacturers, FMCG and Diversified. Its competitors include FAZE THREE LIMITED, Unison Metals and Promark.

Company details

Manufacturer supplier of quality Male condoms, Female Condoms, Water based Lubricant Jelly IVD Kits, works with healthcare professionals, governments and organizations in promoting good sexual health and the importance of consistent condom use to prevent HIV and other STDs.

  • Headquarters Nashik, India
  • Employees 243
  • Stage Public
  • Sectors
    Industrial Goods & Manufacturing
  • Website category Finance · Investing
  • Email
    β€’β€’β€’β€’β€’β€’β€’β€’
  • Website cupidlimited.com
  • Social LinkedIn X Facebook YouTube
  • Legal Name Cupid Limited
Key Metrics
  • Market Cap
    ₹45,887 Cr

    CUPID · NSE

  • Share Price
    ₹338.90

    -0.69% today

  • Revenue
    ₹358 Cr

    FY 2025-26 · +94.9% YoY

  • EBITDA
    ₹117 Cr

    Margin 32.6%

  • Net Profit
    ₹110 Cr

    FY 2025-26 · +164.5% YoY

  • P/E (TTM)
    329.4x

    P/B 100.4x

  • ROE
    27.3%

    ROCE 33.3%

  • Debt / Equity
    0.10

    Interest cover 2.5x

  • Investors
  • Employee Count
    243

Products & Services of Cupid

Cupid offers a comprehensive portfolio of products and services, including Male Condom, Female Condom, Water Based Lubricant Jelly, IVD Products, and CupiSAFE Toilet Seat Sanitizer.

Male Condom
Contraceptive

Protective barrier for safe sex and disease prevention.

Female Condom
Contraceptive

Internal barrier for safe sex and pregnancy protection.

Water Based Lubricant Jelly
Personal Lubricant

Enhances comfort during intimate activities with safe formulation.

IVD Products
Diagnostic Tools

In-vitro devices for health testing and monitoring purposes.

CupiSAFE Toilet Seat Sanitizer
Sanitization Product

Sanitizer for toilet seats to maintain hygiene and prevent infections.

Funding Insights of Cupid

  • Total Rounds 1
  • Investors Count 2

All 1 funding rounds of Cupid with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.

DateAmountTransaction NameValuationLead InvestorsInvestors
Dec 2023Post-IPO––
Valuation history

2 investors in total: 2 institutional.

Investors in Cupid

Cupid has secured backing from 2 investors, including institutional investors. Prominent investors backing the company include Columbia Petro Chem and Halwasiya Group.

All
Institutional
InvestorDescriptionFounded YearDomainLocation
Petrochemicals and paraffin oils are manufactured by Columbia Petro Chem.
1960columbiapetro.comMumbai, India
Leading player in commercial, retail, and residential real estate.
1943halwasiyagroup.comNew Delhi, India
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Investor details for Cupid

The complete investor list, round-by-round participation and investor portfolios require an active premium plan.

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  • Round participation
  • Investor portfolios
  • Co-investor network

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Board of directors of Cupid Limited (Cupid)

Cupid Limited is the primary company behind Cupid. The board of Cupid Limited currently have 8 directors; the longest-serving is Rajinder Singh Loona, appointed in 2023. 18 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Rajinder Singh Loona
DIN 02305074
Director20 Oct 20233 yrsCupid Limited
Venkateswara Rao Thallapaka
DIN 05273533
Director20 Oct 20233 yrsCupid Limited
Aditya Kumar Halwasiya
DIN 08200117
Managing Director20 Oct 20233 yrsCupid Limited
Rajni Anil Mishra
DIN 08386001
Director20 Oct 20233 yrsCupid Limited
Ajay Kumar Halwasiya
DIN 05172221
Director23 Jan 20242 yrs 9 moCupid Limited
Akshay Kumar
DIN 09191862
Director19 Dec 20241 yr 10 moCupid Limited
Prasada Rao Bontha
DIN 01705080
Director25 Feb 20268 moCupid Limited
Keral Prasad Yadaw
DIN 11894095
Director17 Aug 20262 moCupid Limited

People of Cupid

1 people are tracked at Cupid (1 in leadership); the tracked headcount is 243.

NameRoleGroup
Managing DirectorLeadership
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IPO & Listings of Cupid

Cupid is a publicly listed company on the NSE with ticker symbol CUPID in India, operating in the Consumer non-durables sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • IPO date16 Sep 2016
  • Listed onBSE: 530843 · NSE: CUPID
  • Listed entityCupid Limited
  • Exchange sectorConsumer non-durables
  • ISININE509F01029
  • Share price₹354.60 (+0.42% on the day) · 2026-10-14
  • Market capitalisation₹47,480 Cr
  • Price to earnings353.7
  • EPS (diluted, trailing year)₹1.00
  • Volume (last session)10,977,333

Financials of Cupid

Exchange-reported figures of Cupid Limited, the listed company behind Cupid (NSE: CUPID).

Financial Highlights

FY 2025-26 Β· Consolidated
Revenue
₹358 Cr
+94.9% YoY
EBITDA
₹117 Cr
+179.8% YoY
Profit After Tax
₹110 Cr
+164.5% YoY
Net Worth
₹451 Cr
+31.7% YoY
Total Assets
₹508 Cr
+39.8% YoY
Total Debt
₹56.38 Cr
+196.9% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24
Income statement
Revenue358184172
Revenue growth+94.9%+6.9%-
EBITDA11741.7250.72
EBITDA margin+32.6%+22.7%+29.5%
Profit before tax14254.8552.58
Net profit11041.4339.86
Net profit margin+30.6%+22.6%+23.2%
EPS (β‚Ή)0.801.522.97
Balance sheet
Total assets508364314
Net worth451342301
Total debt56.3818.9912.06
Cash & bank18668.5739.45
Net working capital343188109
Cash flow
Cash from operations46.12(11.14)7.84
Cash from investing28.0944.68(79.84)
Cash from financing35.30(1.46)98.77
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue15512093.5084.4559.8056.4846.3541.55
Revenue growth (YoY)+158.7%+112.4%+101.7%+103.3%+52.8%---
Other income2.2712.0810.895.784.944.634.415.73
EBITDA60.0737.5134.3128.4216.4713.4011.3810.27
EBITDA margin+38.8%+31.3%+36.7%+33.7%+27.5%+23.7%+24.6%+24.7%
Depreciation1.291.271.301.301.241.261.291.17
Interest1.110.870.610.700.620.780.410.64
Profit before tax59.9447.4543.2932.2019.5515.9914.0914.19
Tax15.7711.1910.448.064.544.493.014.17
Net profit44.1736.2632.8524.1415.0111.5011.0810.02
EPS (β‚Ή)0.320.261.220.890.100.420.410.37
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue358184172159133143160
Revenue growth+94.9%+6.9%+7.8%+20.2%-7.5%-10.6%-
EBITDA11741.7650.7241.3123.0536.2052.35
EBITDA margin+32.6%+22.8%+29.5%+25.9%+17.4%+25.3%+32.7%
Profit before tax14254.8952.5842.3224.5038.2052.71
Net profit11041.4739.8631.3416.4728.1239.70
Net profit margin+30.6%+22.6%+23.2%+19.7%+12.4%+19.6%+24.8%
EPS (β‚Ή)0.811.522.9723.6812.9621.7329.87
Balance sheet
Total assets508364314173151131135
Net worth451342301167142131103
Total debt56.3818.9912.065.978.800.0031.47
Cash & bank18668.5739.4529.6221.4619.2836.84
Net working capital34318810969.2661.7353.5585.72
Cash flow
Cash from operations46.12(11.14)7.8432.7110.2441.8918.80
Cash from investing28.0944.68(79.84)(21.86)(13.49)(8.82)(37.04)
Cash from financing35.30(1.46)98.77(10.95)2.66(33.03)16.42
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue15713210490.2164.7461.1150.7647.28
Revenue growth (YoY)+142.5%+116.1%+105.7%+90.8%+47.1%---
Other income0.000.000.000.000.000.000.000.00
Total expenses94.6482.4559.1856.0343.3243.0434.9731.28
EBITDA62.3549.5945.2234.1821.4218.0715.7916.00
EBITDA margin+40.3%+41.3%+48.4%+40.5%+35.8%+32.0%+34.1%+38.5%
Depreciation1.291.271.301.301.241.261.291.17
Interest1.110.870.610.700.620.780.410.64
Profit before tax59.9547.4543.3132.1819.5616.0314.0914.19
Tax15.7711.1910.448.064.544.493.014.17

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 06 Nov 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue15512093.5084.4559.8056.4846.3541.55
Revenue growth (YoY)+158.7%+112.4%+101.7%+103.3%+52.8%---
Other income2.2712.0810.895.784.944.634.415.73
EBITDA60.0737.5134.3128.4216.4713.4011.3810.27
EBITDA margin+38.8%+31.3%+36.7%+33.7%+27.5%+23.7%+24.6%+24.7%
Depreciation1.291.271.301.301.241.261.291.17
Interest1.110.870.610.700.620.780.410.64
Profit before tax59.9447.4543.2932.2019.5515.9914.0914.19
Tax15.7711.1910.448.064.544.493.014.17
Net profit44.1736.2632.8524.1415.0111.5011.0810.02
EPS (β‚Ή)0.320.261.220.890.100.420.410.37
ParticularsFY 2025-26FY 2024-25FY 2023-24
Revenue358184172
Revenue growth+94.9%+6.9%-
Other income33.6919.666.60
Total expenses241142121
Employee cost30.7827.2715.66
EBITDA11741.7250.72
EBITDA margin+32.6%+22.7%+29.5%
Depreciation5.124.482.93
Interest2.852.051.81
Profit before tax14254.8552.58
Tax34.2313.9712.72
Net profit11041.4339.86
Net profit margin+30.6%+22.6%+23.2%
EPS (β‚Ή)0.801.522.97
ParticularsFY 2025-26FY 2024-25FY 2023-24
Equity & liabilities
Share capital13426.8513.42
Reserves & surplus316219192
Shareholders' funds (net worth)451342301
Minority interest0.000.000.00
Secured loans50.9712.6312.06
Unsecured loans5.416.360.00
Total debt56.3818.9912.06
Total liabilities508364314
Assets
Gross block11711198.37
Net block67.1566.6258.13
Capital work in progress25.386.490.00
Investments74.65103147
Inventories70.0441.6715.65
Sundry debtors10167.0347.98
Cash & bank balances18668.5739.45
Loans & advances28.1117.7411.26
Total current assets385195114
Total current liabilities42.217.234.95
Net working capital343188109
Total assets508364314
ParticularsFY 2025-26FY 2024-25FY 2023-24
Opening cash59.1527.070.30
Net cash from operating activities46.12(11.14)7.84
Net cash from investing activities28.0944.68(79.84)
Net cash from financing activities35.30(1.46)98.77
Net change in cash11032.0826.77
Closing cash18668.5739.45
ParticularsFY 2025-26FY 2024-25FY 2023-24
Growth
Sales growth+94.9%+6.9%-
EBITDA growth+179.8%-17.7%-
PBT growth+159.7%+4.3%+9997.0%
Net income growth+164.5%+3.9%-
Profitability & leverage
Net income margin+30.3%+22.3%+23.2%
Return on capital employed+33.3%+16.8%+17.3%
Return on net worth+27.3%+12.7%+13.2%
Debt / equity0.100.050.04
Long-term debt / equity0.030.010.00
Interest cover2.555.503.79
Efficiency & per share
Fixed asset turnover3.131.751.75
Inventory turnover6.406.4010.97
Debtors turnover4.263.193.58
EPS (β‚Ή)0.801.522.97
Dividend per share (β‚Ή)0.000.000.00
Book value per share (β‚Ή)3.359.1615.28
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue15713210490.2164.7461.1150.7647.28
Revenue growth (YoY)+142.5%+116.1%+105.7%+90.8%+47.1%---
Other income0.000.000.000.000.000.000.000.00
Total expenses94.6482.4559.1856.0343.3243.0434.9731.28
EBITDA62.3549.5945.2234.1821.4218.0715.7916.00
EBITDA margin+40.3%+41.3%+48.4%+40.5%+35.8%+32.0%+34.1%+38.5%
Depreciation1.291.271.301.301.241.261.291.17
Interest1.110.870.610.700.620.780.410.64
Profit before tax59.9547.4543.3132.1819.5616.0314.0914.19
Tax15.7711.1910.448.064.544.493.014.17
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue358184172159133143160
Revenue growth+94.9%+6.9%+7.8%+20.2%-7.5%-10.6%-
Other income33.6919.666.604.774.315.173.39
Total expenses241142121118109107108
Employee cost30.7827.2715.6611.459.158.356.93
EBITDA11741.7650.7241.3123.0536.2052.35
EBITDA margin+32.6%+22.8%+29.5%+25.9%+17.4%+25.3%+32.7%
Depreciation5.124.482.932.972.652.602.50
Interest2.852.051.810.790.210.570.53
Profit before tax14254.8952.5842.3224.5038.2052.71
Tax34.2313.9712.7210.747.249.2212.86
Net profit11041.4739.8631.3416.4728.1239.70
Net profit margin+30.6%+22.6%+23.2%+19.7%+12.4%+19.6%+24.8%
EPS (β‚Ή)0.811.522.9723.6812.9621.7329.87
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital13426.8513.4213.3413.3413.3413.34
Reserves & surplus31621919215412911890.12
Shareholders' funds (net worth)451342301167142131103
Secured loans38.8112.6312.065.978.800.0031.30
Unsecured loans17.576.360.000.000.000.000.17
Total debt56.3818.9912.065.978.800.0031.47
Total liabilities508364314173151131135
Assets
Gross block11711198.3773.3865.1160.8455.46
Net block67.1566.6258.1336.0630.7629.1426.31
Capital work in progress25.386.490.000.005.761.403.16
Investments74.8710314769.3353.7647.6221.22
Inventories70.0441.6715.6519.1017.8513.7816.48
Sundry debtors10167.0347.9825.6430.4725.4741.89
Cash & bank balances18668.5739.4529.6221.4619.2836.84
Loans & advances28.1617.7911.269.0814.0115.7018.90
Total current assets38519511483.4483.7974.23114
Total current liabilities42.437.464.9514.1822.0620.6828.39
Net working capital34318810969.2661.7353.5585.72
Total assets508364314173151131135
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash59.1527.070.300.400.990.952.77
Net cash from operating activities46.12(11.14)7.8432.7110.2441.8918.80
Net cash from investing activities28.0944.68(79.84)(21.86)(13.49)(8.82)(37.04)
Net cash from financing activities35.30(1.46)98.77(10.95)2.66(33.03)16.42
Net change in cash11032.0826.77(0.10)(0.59)0.05(1.83)
Closing cash18668.5739.4529.6221.4619.2836.84
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+94.9%+6.9%+7.8%+20.2%-7.5%-10.6%-
EBITDA growth+179.6%-17.7%+22.8%+79.2%-36.3%-30.9%-
PBT growth+159.6%+4.4%+24.2%+72.7%-35.9%-27.5%+152.0%
Net income growth+164.3%+4.0%+27.2%+90.3%-41.4%-29.2%-
Revenue CAGR (3Y)+30.9%+11.5%+6.2%-0.2%+15.7%+21.1%+24.2%
EBITDA CAGR (3Y)+41.4%+21.9%+11.9%-7.6%+3.9%+10.1%+15.6%
Profitability & leverage
Net income margin+30.3%+22.3%+23.2%+19.8%+13.0%+20.2%+24.9%
Return on capital employed+33.3%+16.8%+22.3%+26.6%+17.5%+29.2%+49.9%
Return on net worth+27.3%+12.7%+17.0%+20.4%+12.7%+24.7%+44.4%
Debt / equity0.100.050.040.050.030.130.19
Long-term debt / equity0.030.010.000.000.000.000.00
Interest cover2.555.503.792.061.031.701.06
Efficiency & per share
Fixed asset turnover3.131.752.002.302.112.473.13
Inventory turnover6.406.409.888.628.399.5013.22
Debtors turnover4.263.194.665.684.754.274.99
EPS (β‚Ή)0.811.522.9723.6812.9621.7329.87
Dividend per share (β‚Ή)0.000.000.005.004.504.504.50
Book value per share (β‚Ή)3.359.1615.28125.30106.6098.1077.57

Timeline of Cupid

3 dated milestones of Cupid across 30 years, from founding to its latest funding, stage changes and deals.

  1. Founded Cupid is founded.
  2. IPO Lists on the stock exchange (IPO).
  3. Funding First funding round.

Competitors of Cupid

Cupid has 3 listed competitors in our database. They include FAZE THREE LIMITED, Unison Metals and Promark.

Company NameDomainFoundedHQ LocationTotal fundingEmployeesDescription
fazethree.com1985Mumbai, India673
Home furnishings and automobile textiles are contract-manufactured.
unisongroup.net1990Ahmedabad, India22
Hot and cold rolled stainless steel sheets are contract manufactured.
promark.co.in2003Sahibzada Ajit Singh Nagar, India35
Contract manufacturing of IT products and furniture is conducted.
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Detailed competitors of Cupid

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Web traffic of Cupid

The website of Cupid (cupidlimited.com) receives about 58K visits a month and ranks #902,769 among all websites worldwide, #8,331 in Investing.

  • Monthly visits
    58K

    ▲ 73.6% vs previous month

  • Unique visitors
    20.5K

    per month

  • Global rank
    #902,769

    among all websites

  • Category rank
    #8,331

    Finance · Investing

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Top companies in Contract & Outsourced Manufacturing

3 companies that operate in the same segment as Cupid (Contract & Outsourced Manufacturing) in India, ranked by their profile score on The Company Check.

CompanyDescriptionFoundedLocationTotal fundingRevenueEmployees
Industrial components, mould bases, and storage solutions are manufactured globally.
1986Coimbatore, Tamil Nadu, IndiaUSD 28 MUSD 853.09 M43
Single- and three-phase transformers are manufactured in Mumbai.
1993Mumbai, Maharashtra, IndiaUSD 114.37 M618
Apparel and clothing are manufactured and exported on contract.
1979Bengaluru, Karnataka, IndiaUSD 400 M40,280
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Frequently Asked Questions about Cupid

Cupid was founded in 1993 and raised its 1st funding round 30 years after it was founded.

Cupid is headquartered in Nashik, India. It is registered at Nashik, Maharashtra, India.

Cupid has 243 employees.

The primary company behind Cupid, Cupid Limited, reported revenue of β‚Ή391 Cr for FY 2026, up 95% year on year.

Manufacturer supplier of quality Male condoms, Female Condoms, Water based Lubricant Jelly IVD Kits, works with healthcare professionals, governments and organizations in promoting good sexual health and the importance of consistent condom use to prevent HIV and other STDs.

Cupid's top competitors include FAZE THREE LIMITED, Unison Metals and Promark.

Cupid offers Male Condom, Female Condom, Water Based Lubricant Jelly, IVD Products, and CupiSAFE Toilet Seat Sanitizer.

Yes, Cupid is publicly traded on NSE under the ticker symbol CUPID.

Cupid has 2 investors. Key investors include Columbia Petro Chem, and Halwasiya Group.

Cupid operates through Cupid Limited.

The legal entities of Cupid currently have 10 directors, including Narendra Madhukar Joshi, Prasada Rao Bontha, Akshay Kumar and others.

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