Cupid Limited has reported a remarkable performance for the fiscal year 2026, achieving a revenue of ₹358 crore and a net profit of ₹108 crore. This achievement surpasses the company’s annual guidance, reflecting strong execution and sustained demand across its business segments.
In the fourth quarter of FY26, Cupid Limited marked its strongest quarter in history, driven by growth across exports, FMCG, IVD, and institutional business. The company has improved its operating leverage and execution efficiency, which has supported its profitability.
Cupid has commenced a development programme for nitrile female condoms, entering a premium segment historically dominated by a single global manufacturer. With dual polymer manufacturing capability, Cupid is the only manufacturer in India capable of producing both latex and nitrile condoms, with planned capacities of approximately 1.25 billion male condoms and 125 million female condoms annually.
The company has also enhanced its global positioning through its ‘Made in India with Japanese Quality’ initiative, supported by a collaboration with one of Asia’s oldest condom manufacturers, reinforcing a focus on quality and technological excellence.
In diagnostics, Cupid has strengthened its regulatory portfolio with CE EU IVDR certification for its HIV and Hepatitis B test kits, along with CE certification for Syphilis and Pregnancy test kits. These approvals enhance access to regulated markets such as Europe and strengthen participation in global public health programmes.
Domestically, Cupid’s strategic investment of ₹331.53 crore in Baazar Style Retail significantly strengthens its FMCG distribution. With ₹82.88 crore already deployed, the company gains access to a retail network of over 260 stores, expected to scale beyond 500 stores in the next 2 to 3 years. This ecosystem is projected to generate approximately ₹150 crore in incremental revenue in FY27 and scale up to ₹500 crore annually over the medium term, improving brand visibility and last-mile reach.
Looking ahead, Cupid is confident of sustaining its growth trajectory with strong export momentum, a favourable currency environment, and a well-secured raw material position. The company aims to achieve a revenue target of ₹600 crore for FY27, with net margins above 30%, as it continues to build a scalable and globally competitive business.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).