The shares of one of the leading rubber contraceptives and allied prophylactic products manufacturer which is a competitor for Durex up 5 percent after it announced to increase its annual production capacity of Condoms.
At 12;19 p.m. the shares of Cupid Limited were trading at Rs. 896.45, up 3.87 percent from its previous day’s close price of Rs. 863.05, and its market capitalization is Rs. 1,195 Crores. It has delivered multi-bagger returns of 261 percent in a year and 263 percent in the last six months.
Cupid Limited is going to increase its annual production capacity by 770 million male condoms and 75 million female condoms from its existing production capacity of 480 million male condoms and 50 million female condoms.
The increase in the production capacity was a result of its recent land acquisition to remarkably increase the company’s production capabilities, thereby enhancing its position to expand its global footprint by forging new partnerships with international players.
Cupid Limited’s 94 percent of sales come from exports and the rest 6 percent comes from domestic sales. Its total product-wise sales breakdown includes 75 percent sales from male condoms, 16 percent from female condoms, and 9 percent from Lubricant Jelly.
Its revenue from operations grew by 20.13 percent from Rs. 132.54 Crores in FY22 to Rs. 159.22 Crores in FY23 accompanied by increasing profits of Rs. 17.28 Crores to Rs. 31.58 Crores.
It has reported a return on equity (ROE) of 20.48 percent and a return on capital employed (ROCE) of 26.6 percent, it is making good returns on its equity and capital employed.
Cupid Limited is engaged in the business of dealing, marketing, and manufacturing rubber contraceptives and allied prophylactic products under the brand name Cupid.
Written by: Bharath K.S
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