Cupid Limited

BSE: 530843 NSE: CUPID
Cupid Limited - healthcare in Nasik, Maharashtra, India. FY 2026 financials & compliance.
CIN L25193MH1993PLC070846 Incorporated 17 February 1993 ROC Mumbai HQ Nasik, Maharashtra, India
Active Listed - NSE: CUPID · BSE: 530843 Public Limited Company healthcare
Data last updated
Market Cap
₹35,808 Cr
CUPID · NSE
Share Price
₹270.00
+1.39% today
Revenue
₹358 Cr
FY 2025-26 · +69.9% YoY
EBITDA
₹117 Cr
Margin 32.6%
Net Profit
₹110 Cr
FY 2025-26 · +164.5% YoY
P/E (TTM)
268.1x
P/B 81.7x
ROE
27.3%
ROCE 33.3%
Debt / Equity
0.10
Interest cover 2.5x

About Cupid Limited

Data last updated: 25 September 2026

Cupid Limited is a public limited company based in Nasik, Maharashtra, India. It specialises in medical consumables and supplies, a part of the broader healthcare sector. Incorporated on 17 February 1993, the company has been in operation for over 33 years.

Registered with ROC Mumbai under CIN L25193MH1993PLC070846. Listed on BSE: 530843 and NSE: CUPID.

Capital: an authorised share capital of ₹150 Cr and a paid-up capital of ₹134.47 Cr. Formerly known as Cupid Rubbers Limited. It is led by directors including Akshay Kumar and Ajay Kumar Halwasiya.

Last AGM: 26 September 2025. Financial statements filed for year ended 31 March 2025. Office: A – 68 M.I.D.C. Sinnar Malegaon, Nasik, Maharashtra, India – 422113.

As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹357.71 Cr, a growth of 94.92% compared to the previous year. The net worth stands at ₹450.81 Cr (up 31.74% YoY). Total assets are valued at ₹508.31 Cr (up 39.76% YoY).

The company has a workforce of approximately 153 employees as per the latest available data.

The company is associated with 1 brand - Cupid. As per MCA filings, the company has open charges of ₹191.67 Cr and satisfied charges of ₹107.48 Cr on record.

The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website cupidlimited.com.

Company Details of Cupid Limited
CIN L25193MH1993PLC070846
Registration Number 070846
Incorporation Date 17 February 1993
ROC Mumbai
Listing Status Listed (BSE: 530843, NSE: CUPID)
Company Status Active
Date of Last AGM 26 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
Key People
Aditya Kumar Halwasiya Managing Director Akshay Kumar Director Ajay Kumar Halwasiya Director
Contact Details
  • Email
    Locked
  • Telephone
    Locked
  • Website
    cupidlimited.com
  • Social Media
  • Registered Address
    A – 68 M.I.D.C. Sinnar Malegaon, Nasik, Maharashtra, India – 422113
  • Industry
    Healthcare, Medical Consumables & Supplies
Company report
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  • Historical Financials and ratios
  • Shareholding pattern and group structure
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Financials, compliance, directors, charges, ownership and filings for Cupid Limited in one report.

10-year financials Directors & ownership Charges & compliance

Associated Brands with Cupid Limited

Cupid Limited operates one associated brand: Cupid. These brands represent Cupid Limited's diversified market presence and brand portfolio.

Brand Description Website
Cupid
Contract manufacturer of male & female condoms cupidlimited.com

Competitors & Alternatives of Cupid Limited

Brands and companies operating in the same space as Cupid Limited include FAZE THREE LIMITED, Unison Metals, KH Group and 4 more.

Competitor Description Location Founded
FAZE THREE LIMITED FAZE THREE LIMITED Home furnishings and automobile textiles are contract-manufactured. Mumbai, India, India 1985
Unison Metals Unison Metals Hot and cold rolled stainless steel sheets are contract manufactured. Ahmedabad, India, India 1990
KH Group KH Group Specializes as a contract manufacturer of leather footwear, bags, and gloves. Chennai, India, India 2001
Flexipol Foams Flexipol Foams Contract manufacturer of industrial grade foam products Bhiwadi, India, India 1995
Promark Promark Contract manufacturing of IT products and furniture is conducted. Sahibzada Ajit Singh Nagar, India, India 2003
Kragbuzz Kragbuzz Contract manufacturing of sportswear, accessories, and bags is conducted. Delhi, India, India 1985
Bhaskar Industries Bhaskar Industries Produces high-quality denim fabrics for international apparel industry with innovative designs. Bhopal, India, India 1985

Business Activity of Cupid Limited

Cupid Limited is engaged in the principal business activity of manufacturing, with detailed activities including chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.

Main Activity Group Code Description of Main Activity Business Activity Code Description of Business Activity Turnover Percentage
C Manufacturing C6 Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products Locked
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Auditor Details of Cupid Limited

Cupid Limited is audited by Chaturvedi Sohan& co. for the financial year 2023. The auditor plays a crucial role in ensuring financial transparency and compliance with accounting standards.

Name Status Appointment Date Cessation Date
Chaturvedi Sohan& co. Locked Locked Locked
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Board of Directors of Cupid Limited

Cupid Limited is currently managed by 7 directors, with 18 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.

Current Directors
Name Designation Appointment Date Tenure Status
Akshay Kumar
Also directs: White Spread Foods Private Limited, Jalpak Foods India Private Limited, Birla Open Minds Education Limited
Director 19 Dec 2024 1 Years 9 Months Current
Ajay Kumar Halwasiya Director 23 Jan 2024 2 Years 8 Months Current
Rajinder Singh Loona
Also directs: Waaree Energies Limited, Kesar Terminals & Infrastructure Limited, Groww Trustee Limited and 1 more
Director 20 Oct 2023 2 Years 11 Months Current
Venkateswara Rao Thallapaka
Also directs: Easy Home Finance Limited, Alkali Metals Ltd., Lendingkart Finance Limited and 5 more
Director 20 Oct 2023 2 Years 11 Months Current
Aditya Kumar Halwasiya
Also directs: Tourism Finance Corporation Of India Limited, Apollo Micro Systems Limited, Olka Technologies (Opc) Private Limited and 1 more
Managing Director 20 Oct 2023 2 Years 11 Months Current
Rajni Anil Mishra
Also directs: Suprajit Engineering Limited, Ujjivan Small Finance Bank Limited, Aspinwall And Company Limited and 2 more
Director 20 Oct 2023 2 Years 11 Months Current
Showing 6 of 7 current directors. View all directors

Financials of Cupid Limited FY 2025-26 filings available

Cupid Limited reported revenue of ₹357.71 Cr (up 94.92% YoY) for FY 2025-26.

Financial Highlights

FY 2025-26 · 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+69.9%+17.2%+9997.0%
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 (₹)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%-10.2%+15.7%+9997.0%
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 (₹)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+70.0%+17.2%+2.5%+7.8%+2.3%-0.8%+66.2%
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 (₹)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)+158.7%+112.4%+101.8%+103.2%+52.8%-10.2%+15.7%+20.6%
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 25 Sep 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%-10.2%+15.7%+9997.0%
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 (₹)0.320.261.220.890.100.420.410.37
ParticularsFY 2025-26FY 2024-25FY 2023-24
Revenue358184172
Revenue growth+69.9%+17.2%+9997.0%
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 (₹)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%+9997.0%
EBITDA growth+179.8%-17.7%+9997.0%
PBT growth+159.7%+4.3%+9997.0%
Net income growth+164.5%+3.9%+9997.0%
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 (₹)0.801.522.97
Dividend per share (₹)0.000.000.00
Book value per share (₹)3.359.1615.28
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue15713210490.2164.7461.1150.7647.28
Revenue growth (YoY)+158.7%+112.4%+101.8%+103.2%+52.8%-10.2%+15.7%+20.6%
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+70.0%+17.2%+2.5%+7.8%+2.3%-0.8%+66.2%
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 (₹)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%+87.4%
EBITDA growth+179.6%-17.7%+22.8%+79.2%-36.3%-30.9%+154.5%
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%+162.4%
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 (₹)0.811.522.9723.6812.9621.7329.87
Dividend per share (₹)0.000.000.005.004.504.504.50
Book value per share (₹)3.359.1615.28125.30106.6098.1077.57
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Shareholding Pattern of Cupid Limited

As per the shareholding pattern for the quarter ended Jun 2026, promoters hold 46.20%, foreign institutional investors hold 4.20%, domestic institutional investors hold 0.30%, retail and other public shareholders hold 49.30% of Cupid Limited.

Promoters: 46.20%DII (Domestic Institutional): 0.30%FII (Foreign Institutional): 4.20%Retail & Others: 49.30%
Jun 2026
QUARTER
46.20% Promoters
0.30% DII (Domestic Institutional)
4.20% FII (Foreign Institutional)
49.30% Retail & Others
Promoter holding - history
Now 46.20% · Jun 2026High 46.20% · Jun 2026Low 45.60% · Sep 2025
44%45%46%47%48%Sep 2025Dec 2025Mar 2026Jun 2026Sep 2025: 45.60%Dec 2025: 45.60%Mar 2026: 46.00%Jun 2026: 46.20%45.60%46.20%
Shareholding trend - last 6 quarters
Jun 2026Mar 2026Dec 2025Sep 2025
Promoters46.20%46.00%45.60%45.60%
Public53.80%54.00%54.40%54.40%

Charges & Borrowings of Cupid Limited

Open charges
₹191.67 Cr
Satisfied charges
₹107.48 Cr
Breakdown by lending institutions
Others₹91.67 Cr
Axis Bank Limited₹80.00 Cr
Hdfc Bank Limited₹20.00 Cr
Latest charge details
DateLenderAmountStatus
23 Jun 2026 Others ₹5.95 Cr Open
11 Mar 2026 Axis Bank Limited ₹80 Cr Open
03 Feb 2026 Hdfc Bank Limited ₹20 Cr Open
18 Dec 2025 Others ₹30 Cr Open
18 Dec 2025 Others ₹11.22 Cr Open

Total charge records: 18 View all charges

Employees and EPFO Compliance at Cupid Limited

Cupid Limited has a workforce of 153 employees as of Apr 08, 2024.

Employee count
153
Active EPFO establishments
1
Employee growth
9.29%
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Employee and EPFO history for Cupid Limited

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GST Compliance of Cupid Limited

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Credit Ratings, Litigation & Regulatory Alerts for Cupid Limited

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MSME Payment Delays by Cupid Limited

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Subsidiaries & Group Companies of Cupid Limited

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MCA Filings & Documents of Cupid Limited

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Recent Activity on Cupid Limited

Charges
23 Jun 2026
A charge with Others amounted to Rs. 5.95 Cr with Charge ID 101320726 was registered on 23 Jun 2026.
Charges
23 Jun 2026
A charge with Hdfc Bank Limited of Rs. 20.00 Cr registered on 03 Feb 2026 with Charge ID 101254509 was modified on 23 Jun 2026.
Charges
22 Jun 2026
A charge with Others of Rs. 30.00 Cr registered on 18 Dec 2025 with Charge ID 101210079 was modified on 22 Jun 2026.
Charges
22 Jun 2026
A charge with Others of Rs. 11.22 Cr registered on 18 Dec 2025 with Charge ID 101210074 was modified on 22 Jun 2026.
Charges
22 Jun 2026
A charge with Others of Rs. 30.00 Cr registered on 18 Dec 2025 with Charge ID 101210083 was modified on 22 Jun 2026.
Directors
18 May 2026
Hardik Meghji Chandra was appointed as a Company Secretary on 18 May 2026 & has been associated with this company since 4 months 11 days.

Recent News on Cupid Limited

Cupid bags ₹14 crore order in Brazil
14 Feb 2025 · Thehindubusinessline

Frequently Asked Questions about Cupid Limited

Cupid Limited is an active public limited company in the healthcare sector based in Nasik, Maharashtra, India. It was incorporated on 17 February 1993 (33+ years old) and is registered under CIN L25193MH1993PLC070846. Listed on BSE: 530843 and NSE: CUPID. The company has 153 employees.

Cupid Limited reported revenue of ₹357.71 Cr for FY 2025-26 (up 94.92% YoY) based on consolidated financials.

The current directors of Cupid Limited are:

The primary industry of Cupid Limited is healthcare. The company specifically operates in medical consumables and supplies. The company is currently active in this sector.

Yes. Cupid Limited is listed on both BSE (code: 530843) and NSE (symbol: CUPID).

Cupid Limited can be reached at the registered office: A – 68 M.I.D.C. Sinnar Malegaon, Nasik, Maharashtra, India – 422113, or through the website cupidlimited.com.

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