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.

Cupid Limited , a global provider of wellness and public health products, has announced a significant business development that positions the company at the forefront of South Africa's national condom procurement program for 2025-2030.

Key Allocation Details

The company has secured a leading position in South Africa's five-year national procurement program for female and male condoms. Here's a breakdown of the allocation:

Financial Impact

The allocation translates into substantial financial visibility for Cupid Limited:

Implementation and Strategy

Cupid Limited is actively preparing for the program's commencement in December 2025:

• Coordinating with South African distributors for phased deliveries
• Finalizing local labelling and pack variants
• Scheduling capacity, quality assurance, and logistics for consistent supply

The company plans to offer a variety of flavors for both female condoms (Strawberry, Vanilla, Caramel) and male condoms (Vanilla, Banana, Grape, Strawberry) as per tender specifications.

Management Commentary

Aditya Kumar Halwasiya, Chairman and Managing Director of Cupid Limited, stated, "These allocations place Cupid at the forefront of South Africa's prevention program. This is the highest ever multi-year visibility milestone and a validation of our quality and reliability. This outcome will notably strengthen our international order pipeline and will allow us to exceed our annual guidance given previously."

Company Background

Cupid Limited, established in 1993, is India's premier manufacturer of male and female condoms, water-based lubricants, and other wellness products. The company exports to over 110 countries and is the first globally to achieve WHO/UNFPA pre-qualification for both male and female condoms.

In line with its growth strategy, Cupid has recently expanded into FMCG products and completed a strategic land acquisition in Palava, Maharashtra, in March 2024. This acquisition is expected to increase the company's production capacity by 1.5 times, adding approximately 770.00 million male condoms and 75.00 million female condoms to its annual output.

This development marks a significant milestone for Cupid Limited, reinforcing its position in the global public health sector and potentially driving substantial growth in the coming years.