The shares of the condom manufacturer hit 5 percent upper circuit of Rs 134 a piece after the company’s net profit and revenue increased by 200 and 53 percent, respectively in the fourth quarter result.
With a market capitalization of Rs 3,595.96 crore, the shares of Cupid Ltd were trading at Rs 133.95 per share, increasing around 4.97 percent as compared to the previous closing price of Rs 127.65 apiece.
Looking into the company’s Performance, Cupid Ltd’s revenue increased by 61 percent on a quarter-on-quarter basis from Rs. 41 crores in Q3FY24 to Rs.66 crores in Q4FY24. Further, revenue increased by 53 percent year on year from Rs. 43 crores in Q4FY23 to Rs.66 crores in Q4FY24.
Cupid Ltd’s net profit increased by 166 percent on a quarter-on-quarter basis from Rs. 9 crores in Q3FY24 to Rs. 24 crores in Q4FY24. Further, net profit increased by 200 percent year on year from Rs. 8 crores in Q4FY23 to Rs. 24 crores in Q4FY24.
Cupid Limited is mostly dependent on exports, which account for 94% of its sales, with domestic sales accounting for the remaining 6%. Male condoms account for 75 percent of its sales, followed by female condoms (16%) and Lubricant Jelly (9%).
As of March 2024, Cupid Limited’s board of directors approved the issuing of bonus shares at a 1:1 ratio, with one equity bonus share assigned for every equity share held by shareholders. April 4, 2024, is the record date for identifying qualified stockholders to receive the dividend.
Cupid Limited has a global presence in over 90 countries and a state-of-the-art production plant of 100,000 square feet.
In fiscal year 2020-21, the corporation saw an increase in male condom manufacturing to 480 million units. In addition, it entered the medical equipment market and received orders from UNFPA for lubricating jelly.
Cupid Limited is an India-based condom manufacturer. The company manufactures and supplies male and female condoms, water-based lubricant jelly, and in vitro diagnostics (IVD) kits. Its production site is at Sinnar, near Nashik, around 200 kilometers east of Mumbai.
Written by:- Abhishek Singh
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