Synopsis:
Aditya Kumar Halwasiya, promoter of Cupid Ltd., acquired 10 lakh shares, increasing his holding from 29.93% to 30.30%. The promoter group’s total stake in the company rose to 43.28%.
The shares of the Small-cap company, specializing in the manufacturing of sexual and reproductive health products, including male condoms, female condoms, personal lubricant jelly, and In Vitro Diagnostic (IVD) kits, jumped by upto 5 percent upon the promoter increasing his stake in the company from 29.93% to 30.30% by acquiring 10 lakh equity shares of the company.
With a market capitalization of Rs. 5,525.05 crores on Monday, the shares of Cupid Limited rose by 4.46 percent after making a high of Rs. 207.00 compared to its previous closing price of Rs. 198.15.
What happened
Cupid Ltd, engaged in the manufacturing of sexual and reproductive health products, including male condoms, female condoms, personal lubricant jelly, and In Vitro Diagnostic (IVD) kits, on September 15, 2025, Aditya Kumar Halwasiya, the Promoter and Chairman & Managing Director of Cupid Limited, filed a disclosure under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011.
It highlights that Halwasiya acquired 10,00,000 equity shares (0.37% of the company’s total shares) of the company in the open market. As a result of this acquisition, his total holding in the company increased from 29.93% to 30.30%, while the overall promoter group’s stake rose to 43.28%. The total diluted share capital of Cupid Limited after the acquisition stands at 31,34,00,000 equity shares.
Financials & Others
The company’s revenue rose by 47.07 percent from Rs. 44 crore to Rs. 65 crore in Q1FY25-26. Meanwhile, the Net profit rose from Rs. 8 crore to Rs. 15 crore during the same period.
Cupid Limited, established in 1993, is a trusted Indian manufacturer and global exporter of male and female condoms, personal lubricants, and IVD kits, operating in numerous countries. The company is the first globally to receive WHO/UNFPA prequalification for both male and female condoms and holds ISO 9001:2015 certification and USFDA (510K) clearance.
The company has strong B2B partnerships with organizations like the WHO, UNFPA, and government bodies, driving consistent sales across domestic and international markets. It plans to enter the B2C FMCG space in 2024, launching a range of branded personal care products, including deodorants, perfumes, and toilet sanitizers.
It has over three decades of in-house manufacturing experience, and the company operates in over 110 export countries and has a pan-India presence for its B2C FMCG business. With a network of 55+ super stockists and over 850 distributors, it has more than 1.2 lakh retail touchpoints. The company boasts a sales force of 315+ members and a 100,000 sq. ft. manufacturing facility, employing over 180 staff members with an average of 10 years of experience.
Cupid Limited’s product portfolio for FY25 revenue is dominated by male condoms, which contribute 64% of total revenue, amounting to ₹117.45 Cr. The female condoms category brings in ₹27.53 Cr, making up 15% of the revenue. IVD kits generate ₹12.85 Cr (7%), and other consumer products, including a range of personal care items, contribute ₹25.69 Cr, or 14% of the total revenue.
Written by Sridhar J
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