Cupid Limited Secures Major Allocation in South Africa's 5-Year National Condom Program

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:

Product Type	Annual Allocation	Market Share
Female Condoms	23.40 million units	59%
Male Condoms	0.77 million boxes (153.00 million pieces)	Not specified

Financial Impact

The allocation translates into substantial financial visibility for Cupid Limited:

Product Type	Annual Financial Visibility
Female Condoms	$8.89 million (₹79.00 crores approx.)
Male Condoms	$4.09 million (₹36.00 crores approx.)
Total	$12.98 million (₹115.00 crores approx.)

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.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.41%	-1.62%	+10.81%	+190.39%	+189.87%	+2,183.24%

Cupid Limited , a prominent Indian healthcare and diagnostics manufacturer, has achieved a significant milestone in its global expansion strategy. The company recently announced that it has received CE (EU IVDR) Certification for two of its key in-vitro diagnostic (IVD) devices: the CupiSURE Pregnancy (hCG) Test Kit and the CupiKIT Syphilis Antibody Test Kit.

Certification Details and Market Impact

The CE certification, which confirms compliance with the European Union Regulation (EU) 2017/746 (IVDR), allows Cupid Limited to distribute these kits across the European Economic Area and other CE-recognized global markets. This development marks a crucial step in Cupid's transition from an Indian healthcare exporter to a globally certified IVD solutions provider.

Market Opportunities

The certification positions Cupid Limited to tap into rapidly growing diagnostic markets:

Diagnostic Category	Market Value (2024/2025)	Projected Value	CAGR
Pregnancy Test Kits	$1.70 billion (2024)	$2.90 billion (2034)	5.40%
Syphilis Immunoassay	$611.00 million (2025)	$993.00 million (2034)	5.60%

Future Certifications and Market Expansion

Cupid Limited is also in the final stages of securing CE (EU IVDR) Certification for its HIV 1 & 2 Antibody and Hepatitis B Antigen IVD kits, expected by December 2025. These additional certifications will further expand the company's reach in the global IVD market:

Diagnostic Category	Market Value (2024/2025)	Projected Value	CAGR
HIV 1 & 2 Antibody	$3.60 billion (2025)	$6.10 billion (2030)	10.70%
Hepatitis B Antigen	$1.30 billion (2024)	$2.00 billion (2033)	4.20%

Strategic Implications

The CE certifications enable Cupid Limited to:

Participate in European, African, and Latin American tenders for maternal health, STD, and infectious-disease screening.
Leverage its low-cost, high-quality manufacturing base in India to offer competitively priced global IVD solutions.
Diversify beyond sexual-health products into the broader preventive and diagnostic healthcare space.

Management Commentary

Aditya Kumar Halwasiya, Chairman and Managing Director of Cupid Limited, stated, "The CE (EU IVDR) Certification for our Pregnancy and Syphilis Antibody IVD kits is a milestone achievement that validates Cupid's global quality standards and technical excellence. These certifications open up huge opportunities for us across Europe, Africa, and Asia."

Company Background

Established in 1993, Cupid Limited has evolved from being India's premier manufacturer of male and female condoms to a diversified healthcare company. The company has expanded its product portfolio to include water-based personal lubricants, IVD kits, and various FMCG products. Cupid Limited exports to over 110 countries and has a long-term agreement with WHO / UNFPA.

This certification marks a significant step in Cupid Limited's journey towards becoming a global player in the IVD market, potentially opening doors to new revenue streams and market opportunities across multiple continents.