Pharma stock engaged in dealing, marketing, and manufacturing rubber contraceptives and allied prophylactic products in focus following a strategic venture into the Indian market through the introduction of its Rapid In Vitro Diagnostic (IVD) kits distribution network and expansion plans.
With a market capitalization of Rs. 2,436 Crores, the shares of Cupid Limited were trading at Rs. 91 per equity share, down 2 percent from its previous day’s price of Rs. 92.73.
Cupid Limited has started the commencement of its strategic venture into the Indian market through the introduction of its Rapid In Vitro Diagnostic (IVD) kits distribution network, to amplify its presence in the worldwide IVD market
It has initiated the distribution of its IVD kits in various states across India, including Maharashtra, Goa, Gujarat, Rajasthan, Jammu & Kashmir, and Madhya Pradesh. It is targeting a nationwide presence by the end of the fiscal year and has already established a strong sales team for this purpose.
Cupid has successfully exported IVD kits to nations like Tanzania, Liberia, Ghana, the Philippines, and Nepal. Additionally, it is currently in the process of product registration in Cameroon, Myanmar, Bhutan, Mozambique, Nigeria, Ethiopia, Zambia, and Sierra Leone. The present export orders total approximately Rs. 1.25 crore.
Cupid’s current array of IVD products comprises 13 distinct kits, marketed under the brand names “Cupikit” and “Cupisure”, It aims to position Cupikit in over 10,000 labs and distribute Cupisure pregnancy detection kits to more than 100,000 chemist outlets by the close of the financial year. Within three months of their launch, the pregnancy detection kits have already been placed in 25,000 chemist outlets.
Cupid Limited operates a state-of-the-art IVD manufacturing plant in Sinnar, Maharashtra, which boasts an annual production capacity exceeding 30 million kits. This facility, which has been operational for more than two years, is due for further capacity expansion in the upcoming quarters.
Cupid Limited is engaged in the business of dealing, marketing, and manufacturing rubber contraceptives and allied prophylactic products under the brand name Cupid. It is one of India’s premier manufacturer of male and female condoms, water-based lubricant jelly, IVD kits, and Deodorants.
Cupid Limited boasts a production capacity of up to 480 million male condoms, 52 million female condoms, 210 million sachets of lubricant jelly and 20 million IVD Test Kits annually
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 51.57 percent from Rs. 41.5 Crores in Q4FY23 to Rs. 62.9 Crores in Q4FY24, accompanied by profits of Rs. 8.34 Crores to Rs. 23.72 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 17 percent and a return on capital employed (ROCE) of 22.4 percent. It has a debt-to-equity ratio of 0.04.
Written by: Bharath K.S
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