Cupid Limited (CUPID) AI Stock Analysis

• Market Cap: ₹113.16B
• Dividend Yield: N/A
• Average Volume (3M): 227.77K
• Price to Earnings (P/E): 187.6
• Beta (1Y): 1.21
• Revenue Growth: 34.55%
• EPS Growth: 20.95%
• Country: IN
• Employees: 169
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Household & Personal Products
• EPS (TTM): 0.90
• Shares Outstanding: 268,467,130
• 10 Day Avg. Volume: 444,612
• 30 Day Avg. Volume: 227,772
• PEG Ratio: 20.03
• Price to Book (P/B): 4.82
• Price to Sales (P/S): 9.13
• P/FCF Ratio: -53.49
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: ₹431.00 ▼(-8.10% Downside)

The score is supported primarily by strong financial performance (healthy growth and a very strong, low-leverage balance sheet), but is meaningfully reduced by weak cash-flow conversion and an expensive valuation (very high P/E). Technicals are mixed, reflecting a short-term pullback while the longer-term trend remains positive.

Positive Factors

Revenue Growth

Sustained ~35% revenue growth indicates expanding adoption of Cupid's devices and services across care settings. Over a 2–6 month horizon, this supports scale advantages, stronger negotiating power with providers, and funds for R&D and commercialization of new products.

Strong Balance Sheet

A low-leverage, high-equity capital structure gives Cupid financial flexibility to fund clinical trials, regulatory steps, and inventory for growth without heavy refinancing. Strong ROE signals efficient capital use, reducing long-term financing risk and supporting sustained investment.

Diversified Revenue Streams

Multiple revenue channels — product sales, recurring service/maintenance contracts, and partnership/licensing deals — reduce reliance on single-product cycles. This mix improves revenue durability, customer retention and lifetime value, supporting steadier cashflow over time.

Negative Factors

Weak Cash Conversion

Negative free cash flow despite strong reported earnings indicates earnings are not translating into spendable cash. Over months this can constrain capex, commercial rollouts, or ramping production unless external funding is secured, raising financing and execution risk.

OCF Lagging Net Income

Persistent divergence between net income and operating cash flow weakens earnings quality. Structurally, this can force reliance on working capital financing, limit capacity to self-fund growth initiatives, and increase vulnerability to interest or supplier shocks.

Volatile Net Profit Margins

Fluctuating net margins suggest variability from product mix, pricing pressure, or episodic R&D and regulatory costs. This hinders reliable cashflow forecasting and long-term planning, complicating investment prioritization and diluting the predictability of returns to stakeholders.

Cupid Limited Business Overview & Revenue Model

Company Description

Cupid Limited (CUPID) is a technology-driven company specializing in the development and commercialization of innovative medical devices and diagnostic tools, primarily focused on the healthcare sector. The company is known for its cutting-edge products that enhance patient care and improve clinical outcomes. Its core offerings include advanced cardiac monitoring systems, vascular access devices, and health data management solutions, aimed at both healthcare providers and patients.

How the Company Makes Money

Cupid Limited generates revenue through multiple streams: the direct sale of its medical devices and diagnostic tools to hospitals, clinics, and healthcare professionals, which forms the bulk of its income. The company also earns money through service contracts and maintenance agreements for its devices, ensuring ongoing support and upgrades for customers. Additionally, CUPID engages in partnerships with healthcare organizations and research institutions, which may include co-development agreements or licensing of proprietary technology. These collaborations not only provide upfront revenue but can also lead to royalties from future product sales. Furthermore, the company may explore grants and funding opportunities for research and development initiatives, contributing to its overall financial growth.

Cupid Limited Financial Statement Overview

Summary

Cupid Limited exhibits strong financial health with robust revenue growth and a solid balance sheet. However, challenges in cash flow management could impact future liquidity.

Income Statement

Cupid Limited has demonstrated strong revenue growth with a consistent increase in total revenue over the years. The gross profit margin remains robust, indicating effective cost management. However, the net profit margin has shown some fluctuations, suggesting potential volatility in net income. The EBIT and EBITDA margins are healthy, reflecting solid operational efficiency.

Balance Sheet

The balance sheet of Cupid Limited is strong, with a low debt-to-equity ratio indicating minimal leverage and financial risk. The company has a high equity ratio, showcasing a solid capital structure with a significant portion of assets financed by equity. Return on equity is impressive, highlighting effective use of shareholder funds to generate profits.

Cash Flow

The cash flow statement reveals some challenges, with negative free cash flow in recent periods, indicating potential liquidity issues. The operating cash flow to net income ratio is concerning, suggesting that net income is not fully translating into cash flow. However, the company has shown resilience in managing investing and financing activities.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.04B	1.81B	1.71B	1.56B	1.33B	1.41B
Gross Profit	1.26B	1.36B	1.11B	901.30M	707.46M	899.08M
EBITDA	712.51M	613.87M	501.01M	460.76M	273.75M	413.73M
Net Income	475.96M	408.87M	398.55M	315.83M	172.79M	289.83M
Balance Sheet
Total Assets	0.00	3.72B	3.20B	1.89B	1.74B	1.52B
Cash, Cash Equivalents and Short-Term Investments	1.55B	1.55B	1.87B	782.87M	736.37M	668.99M
Total Debt	0.00	189.90M	120.58M	59.75M	87.97M	0.00
Total Liabilities	-3.42B	295.84M	186.53M	217.07M	318.91M	215.29M
Stockholders Equity	3.42B	3.42B	3.01B	1.67B	1.42B	1.31B
Cash Flow
Free Cash Flow	0.00	-308.26M	-171.54M	301.67M	16.03M	380.10M
Operating Cash Flow	0.00	-113.67M	78.42M	327.11M	102.39M	418.88M
Investing Cash Flow	0.00	449.12M	-798.43M	-218.62M	-134.94M	-88.17M
Financing Cash Flow	0.00	-14.65M	987.72M	-109.47M	26.61M	-330.25M

Cupid Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 469.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:CUPID, the sentiment is Positive. The current price of 469 is above the 20-day moving average (MA) of 449.42, above the 50-day MA of 372.72, and above the 200-day MA of 198.66, indicating a neutral trend. The MACD of 13.45 indicates Positive momentum. The RSI at 52.11 is Neutral, neither overbought nor oversold. The STOCH value of 41.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:CUPID.

Cupid Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BAJAJCON	67 Neutral	₹36.54B	27.87	―	―	6.03%	0.51%
CUPID	66 Neutral	₹113.16B	187.63	―	―	34.55%	20.95%
EMAMILTD	64 Neutral	₹222.99B	29.41	―	1.91%	0.84%	-2.44%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
JYOTHYLAB	61 Neutral	₹95.75B	27.49	―	1.24%	1.62%	-7.32%
GODREJCP	59 Neutral	₹1.26T	68.99	―	1.67%	5.77%	―
HONASA	54 Neutral	₹94.49B	70.95	―	―	10.59%	67.55%