Pharma stock engaged in dealing, marketing, and manufacturing rubber contraceptives and allied prophylactic products, jumped 4 percent in the day’s trade upon receiving Vendor Approval from Godrej Consumer Products Limited (GCPL) for the Supply of Kamasutra Condoms.
With a market capitalization of Rs. 2,522 Crores, the shares of Cupid Limited were trading at Rs. 93.95 per equity share, up 1.13 percent from its previous day’s close price of Rs. 92.90.
Cupid Limited announced that it has received Vendor Approval from Godrej Consumer Products Limited (GCPL) for the Supply of Kamasutra Condoms. It also includes an initial order from Godrej Consumer Products Limited for a consideration of Rs. 2.4 Crore.
Aditya Halwasiya, Managing Director, Cupid Limited, remarked, “Cupid Limited has recently entered the direct-to-consumer market in India with its Cupid brand range, including male and female condoms, personal lubricants, CupiSure pregnancy kits, and Cupid Rizz pocket perfumes and deodorants. We are immensely proud to partner with a reputable entity like GCPL.”
He added, “We look forward to nurturing and expanding our relationship with GCPL in the upcoming quarters and years. This partnership highlights Cupid Limited’s dedication to quality and cutting-edge practices.”
Cupid Limited’s strategic move into the direct-to-consumer market, along with this esteemed collaboration with GCPL, emphasizes its commitment to provide top-tier products and widening its presence in the personal care sector. The association with GCPL, a key player in the consumer goods industry, is anticipated to not only propel significant growth for both companies but also improve product accessibility and choice for consumers.
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, waterbased 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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