Cupid Limited has announced a significant reduction in promoter share pledge, bringing down the pledged shareholding from 36.13% as of September 30 to 20% currently. This development marks a substantial improvement in the company's financial position and reflects strengthened promoter confidence.

Pledge Reduction Details

The reduction in pledged shares highlights Cupid Limited's improving financial strength and demonstrates the promoter's confidence in its long-term growth trajectory. The lower level of pledged shares may enhance investor confidence and reflects disciplined financial management practices.

Management Commentary

Commenting on the development, Aditya Kumar Halwasiya, Chairman and Managing Director of Cupid Limited, stated that the reduction in promoter share pledge reflects the company's strengthening balance sheet and sustained business momentum. He emphasized that this move reinforces the company's commitment to maintaining financial prudence, transparency, and long-term value creation for shareholders.

Company Profile and Operations

Established in 1993, Cupid Limited operates as a manufacturer and brand of male and female condoms, water-based personal lubricants, IVD kits, deodorants, perfumes, almond hair oil, body oils, petroleum jelly, and other FMCG products. The company maintains a commitment to public health and well-being while adhering to ethical business practices aligned with international standards.

Recent Expansion and Growth Initiatives

The company has expanded its product offerings to include Fast-Moving Consumer Goods such as fragrance products, personal care items, and wellness solutions. Cupid Limited completed a strategic land acquisition in Palava, Maharashtra, enabling it to amplify its production capacity.

Global Presence and Certifications

Cupid Limited holds the distinction of being the first company worldwide to attain WHO/UNFPA pre-qualification for both male and female condoms. The company currently exports its products to over 110 countries, with a substantial portion of its revenue generated from international markets. Additionally, Cupid Limited has established a long-term agreement with WHO/UNFPA, strengthening its position in global public health initiatives.

Cupid Limited , a leading manufacturer of male and female condoms, water-based lubricants, and in-vitro diagnostic kits, has reported exceptional financial results for the second quarter of fiscal year 2026. The company's performance showcases significant growth across key financial metrics, setting new records in its history.

Financial Highlights

Cupid's Q2 FY26 results demonstrate robust growth and improved profitability:

The company's operating income surged by 103% year-over-year to ₹84.45 crore, while EBITDA saw a remarkable increase of 176% to ₹28.41 crore. Net profit for the quarter more than doubled, reaching ₹24.12 crore, a 140% increase compared to the same period last year.

Strong H1 FY26 Performance

For the first half of FY26, Cupid reported:

• Total income of ₹154.98 crore, up 70% year-over-year
• Operating income of ₹144.25 crore, a 79% increase
• EBITDA of ₹44.89 crore, growing by 165%
• Net profit of ₹39.14 crore, up 114%

Segment Updates

India FMCG

Cupid is experiencing growing acceptance across key categories, including condoms, deodorants, fragrances, pregnancy detection kits, hair-removal sprays, almond hair oil, and petroleum jelly. The company plans to launch new products such as facewash and talcum powder. Wider retail reach and improved shelf execution are driving repeat sales and market penetration.

B2B Exports

The company reports strengthened customer relationships, leading to large allocations and order inflows across priority markets. Cupid's certification advantages and consistent quality are driving higher win rates in tenders and long-term supply programs.

IVD (In-Vitro Diagnostics)

Cupid expects CE certification benefits to open new markets across Europe, Africa, and Asia. The company is targeting WHO PQ for malaria kits in FY27, which could be a potential catalyst for this vertical.

Capacity Expansion

Cupid is undertaking a significant capacity expansion, which will increase its production capacity by 2.5 times upon commissioning of the new plant in FY27. This expansion is expected to support stronger execution in H2 FY26 and beyond.

Outlook

The company has reiterated its topline guidance of ₹335 crore for FY26, with potential upside. Cupid also expects to deliver a net profit of over ₹100 crore for the year. Looking ahead to FY27 and beyond, the company is positioning itself as a young, fast-maturing FMCG player with growing retail presence across domestic and global markets.

Aditya Kumar Halwasiya, Chairman and Managing Director, commented, "Q2 FY26 is a milestone for Cupid, the strongest quarter in our history and, more importantly, a proof-point that our strategy is working across India FMCG, B2B exports, and Diagnostics. What excites me is the quality of growth: brand acceptance in India, deeper relationships and large allocations in exports, and certification tailwinds that expand our addressable markets."

Cupid Limited continues to demonstrate strong growth and execution across its business segments, setting the stage for sustained performance in the coming quarters.