Cupid Limited is on track to deliver revenue exceeding ₹150 Cr in the first quarter of FY27, marking one of the strongest quarterly performances in the Company's history. Driven by this exceptional start to the financial year and improved visibility across international and domestic markets, the management has revised its FY27 revenue outlook upward by a minimum of 10%. The revised guidance targets ₹660+ Cr, up from the previous estimate of ₹600 Cr.

Revised Revenue Outlook

The updated financial projections reflect growing confidence in the Company's diversified business model, expanding global opportunity pipeline, and increasing operating scale across multiple business verticals.

Key Growth Drivers

The revised FY27 revenue outlook is supported by multiple long-term growth drivers, including expanding opportunities across international B2B healthcare markets. This is driven by rising demand from institutional buyers, private sector customers, and government procurement programmes. The Company has successfully commenced its long-term supply agreement with Partnership for Supply Chain Management (PFSCM), Netherlands, strengthening its position in global healthcare procurement.

Strong order visibility exists across private markets, institutional business, and international tenders spanning multiple geographies. Continued growth in the Male Condom (MC) and Female Condom (FC) businesses is supported by enhanced manufacturing capabilities, customer acquisition, and wider market reach over the past twelve months. Additionally, growing opportunities in the lubricant portfolio are backed by increasing acceptance across both institutional and consumer channels.

Future Prospects

Management sees significant long-term potential in the consumer business as the Company continues to build a mainstream personal care and wellness brand. Its presence is expanding across modern trade, organised retail, and pharmacy networks across Bharat. Ongoing capacity expansion, operational efficiencies, and backward integration initiatives are expected to support sustained growth while improving profitability. The Company is also actively participating in IVD kits and menstrual cup tenders across multiple states.

Aditya Kumar Halwasiya, Chairman & Managing Director, Cupid Limited, highlighted that the strong start to FY27 reflects the transformation the Company has undergone. He noted that the strategic relationship with PFSCM has commenced on an encouraging note. Furthermore, the Company plans to operationalise its new Palava manufacturing facility in the coming quarter to further strengthen production capabilities. Management expects profit margins to remain strong, supported by favourable USD-INR realisations and an overall upward trend in pricing.

Promoter Aditya Kumar Halwasiya has declared that no encumbrance has been created on the shares of Cupid Limited during the financial year ended March 31, 2026. The disclosure confirms that the promoter group has not pledged or otherwise charged shares, directly or indirectly, beyond those previously reported to the exchanges.

The declaration was submitted to BSE Limited and The National Stock Exchange of India Limited on April 4, 2026. This communication was made in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, which mandates promoters to disclose any encumbrance of shares.

Disclosure Details

The filing specifically covers the financial year ended March 31, 2026. Halwasiya stated that apart from encumbrances already disclosed to the stock exchanges, no new charges have been created on the shares held by the promoter or the promoter group during this period.

The letter was addressed to the stock exchanges and copied to the Company Secretary and Compliance Officer of Cupid Limited. The company is registered at A – 68, MIDC, Sinnar, Malegaon, Nashik – 422113.