Multibagger pharma stock engaged in dealing, marketing, and manufacturing rubber contraceptives and allied prophylactic products, hit a 5 percent upper circuit in the day’s trade upon announcing a stock split and bonus issue of the equity shares of the company in the ratio of 1:1
With a market capitalization of Rs. 2,730 Crores, the shares of Cupid Limited hit a 5 percent upper circuit at Rs. 2,034.74. It has delivered multibagger returns of 724 percent in a year.
The board of directors of Cupid Limited has declared to issue bonus shares of the company in the ratio of 1:1 where one equity bonus share will be issued to one equity share held by shareholders of the company and it has fixed April 4, 2024, as the record date to determine the eligible shareholders of the company to receive the dividend.
In addition, it has also announced the stock split of equity shares of the company where 1 equity share with a face value of Rs. 10 will be divided into 10 equity shares with a face value of Rs. 1.
Cupid Limited is engaged in the business of dealing, marketing, and manufacturing rubber contraceptives and allied prophylactic products under the brand name Cupid.
Cupid Limited’s 94 percent of sales come from exports and the rest 6 percent comes from domestic sales. The product-wise sales breakdown includes 75 percent sales of 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 to Rs. 31.58 Crores.
Written by: Bharath K.S
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