Cupid Ltd has announced a significant change in its board composition with the resignation of Santosh Desai from his position as Independent Director.

Board Leadership Change

The pharmaceutical company confirmed that Santosh Desai has stepped down from his role as Independent Director. This development represents a notable change in the company's governance structure.

Corporate Governance Impact

The resignation of an Independent Director typically requires companies to evaluate their board composition and consider the appointment of a replacement to maintain optimal governance standards. Independent Directors play a crucial role in providing objective oversight and strategic guidance to company management.

Company Profile

Cupid Ltd operates in the pharmaceutical sector and maintains its corporate governance through a structured board that includes independent directors alongside executive leadership.

Cupid Limited, a manufacturer and exporter of personal care products including male condoms, female condoms, water-based lubricants, and in vitro diagnostics kits, announced its unaudited financial results for the quarter and nine months ended December 31, 2025. The company demonstrated robust financial performance with significant growth across key metrics.

Financial Performance Highlights

The company's financial results for Q3FY26 showed remarkable improvement compared to the corresponding period last year:

For the nine-month period ended December 31, 2025, the company maintained strong momentum with revenue from operations reaching ₹23,774.71 lacs, marking an 87.1% increase from ₹12,703.95 lacs in the corresponding period of the previous year. Net profit for the nine-month period stood at ₹7,200.19 lacs compared to ₹2,937.64 lacs in the previous year, representing a growth of 145.1%.

Board Decisions and Corporate Actions

The Board of Directors, in their meeting held on January 29, 2026, approved several significant corporate actions:

The bonus issue is subject to approval from shareholders at an Extraordinary General Meeting. The company has adequate free reserves of ₹21,954.93 crores as of March 31, 2025, to support this bonus issue. The estimated timeline for crediting bonus shares is within two months from the Board approval date, by March 29, 2026.

Operational and Expense Management

The company's expense management showed mixed trends during Q3FY26. Total expenses increased to ₹6,109.01 lacs from ₹3,666.27 lacs in Q3FY25, primarily driven by higher purchase of stock-in-trade and material consumption costs. However, the company benefited from favorable inventory changes and maintained disciplined cost control in other areas.

Other Corporate Matters

The Board also approved the continuation of Mr. Rajinder Singh Loona as Non-Executive Independent Director post attaining 75 years of age, subject to shareholder approval. The company operates in the personal care segment as its single reportable business unit, focusing on manufacturing and trading of personal care products.

The financial results were reviewed by the audit committee and approved by the Board of Directors. The statutory auditors, Chaturvedi Sohan & Co., expressed an unqualified opinion on both standalone and consolidated financial results for the quarter and nine months ended December 31, 2025.