The shares of a Pharmaceutical company, specialzing in the manufacturing of female and male condoms, personal lubricant, and IVD kits jumped upto 3 percent upon receiving a new work order worth ~ Rs. 42 crores from the Medical Stores Department, Tanzania.
Price action
With a market capitalization of Rs. 1,824.55 crores on Thursday, the shares of Cupid Limited jumped upto 3.1 percent making a high of Rs. 70.76 per share compared to its previous closing price of Rs. 68.57 per share.
What Happened
Cupid Limited engaged in the manufacturing of female and male condoms, personal lubricants, and IVD kits, has received a work order from the Medical Stores Department, Tanzania, for the supply of male condoms worth ~Rs. 42 Crore. This order is part of a framework agreement with an international entity and is to be executed between May and July 2025.
Management Commentary
Aditya Kumar Halwasiya, Chairman and Managing Director, of Cupid Limited said: “This is great news for us and the Call-Off Order from the MedicalSfores Department, Tanzania is a testament to the strong relationships cultivated over the last 15 months by the new team at Cupid. We have big plans across our B2C and B2B businesses in India and Abroad and our focus remains on growing each business vertical sustainably and profitably”
About the company
Cupid Limited is one of the leading pharmaceutical companies specializing in the design, development, and manufacturing of medical devices, primarily focusing on contraceptive products. The company has expanded its product portfolio to include male and female condoms, pregnancy test kits, and other medical devices, contributing to its position as a key provider in the healthcare sector.
Key operational Highlights
The design of the greenfield plant at Palava is ready, and the plant is expected to be operational by the end of the calendar year 2025. They have launched its B2C business with perfume products, hair oils, massage oils, and creams are currently under development.
Financials
The company’s revenue rose by 24.4 percent from Rs. 40.78 crore to Rs. 50.76 crore in Q3FY24-25. Meanwhile, Net profit rose from Rs. 8.86 crore to Rs. 11.04 crore during the same period.
Written by Sridhar J
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