Cupid Limited (IN:CUPID)
:CUPID
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Cupid Limited
(CUPID)
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Rating:63Neutral
Price Target:
₹98.00
▼(-79.10% Downside)
Action:ReiteratedDate:01/23/26
The score is primarily supported by strong financial health (notably the balance sheet and operating efficiency), but is meaningfully reduced by weak cash flow generation and a very expensive valuation. Technicals are mixed, reflecting a near-term pullback while the longer-term trend remains constructive.
Positive Factors
Strong Balance Sheet
Low leverage and a high equity ratio provide durable financial flexibility, reducing refinancing and solvency risk. This capital structure supports investment in capacity, bidding on institutional tenders, and weathering demand cycles without forcing distress sales or dilutive capital raises.
Negative Factors
Weak Cash Conversion / Negative FCF
Persistent negative free cash flow undermines financial resilience despite reported profits. Poor cash conversion limits self-funding of capex, working capital needs, and shareholder returns, raising the likelihood of external financing or constrained growth if cash generation does not improve.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Balance Sheet
Low leverage and a high equity ratio provide durable financial flexibility, reducing refinancing and solvency risk. This capital structure supports investment in capacity, bidding on institutional tenders, and weathering demand cycles without forcing distress sales or dilutive capital raises.
Read all positive factors
Cupid Limited (CUPID) vs. iShares MSCI India ETF (INDA)
Market Cap
₹123.56B
Dividend YieldN/A
Average Volume (3M)227.77K
Price to Earnings (P/E)105.9
Beta (1Y)1.17
Revenue Growth34.55%
EPS Growth20.95%
CountryIN
Employees169
SectorConsumer Cyclical
Sector Strength84
IndustryHousehold & Personal Products
Share Statistics
EPS (TTM)0.24
Shares Outstanding1,344,660,600
10 Day Avg. Volume444,612
30 Day Avg. Volume227,772
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)4.82
Price to Sales (P/S)9.13
P/FCF Ratio-53.49
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Cupid Limited Business Overview & Revenue Model
Company Description
Cupid Limited designs, manufactures, and markets male and female condoms in India and internationally. The company also offers water based lubricant jellies; hand sanitizers; and hair removal creams. In addition, it provides contract manufacturing...
How the Company Makes Money
Cupid Limited primarily makes money by manufacturing and selling contraceptive and sexual wellness products. Its key revenue streams typically include: (1) Institutional/B2B sales, where condoms (and potentially other products) are supplied in bul...
Cupid Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
85
Very Positive
Cash Flow
65
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.44B | 1.81B | 1.68B | 1.56B | 1.33B | 1.41B |
| Gross Profit | 1.48B | 1.13B | 1.08B | 904.96M | 707.46M | 903.00M |
| EBITDA | 893.64M | 612.71M | 561.05M | 455.73M | 273.02M | 411.79M |
| Net Income | 617.31M | 408.87M | 398.55M | 315.83M | 172.79M | 289.83M |
Balance Sheet | ||||||
| Total Assets | 4.42B | 3.72B | 3.20B | 1.89B | 1.74B | 1.52B |
| Cash, Cash Equivalents and Short-Term Investments | 2.05B | 1.55B | 1.87B | 782.87M | 736.37M | 668.99M |
| Total Debt | 267.55M | 189.90M | 120.58M | 59.75M | 87.97M | 0.00 |
| Total Liabilities | 610.07M | 295.84M | 186.53M | 217.07M | 318.91M | 215.29M |
| Stockholders Equity | 3.81B | 3.42B | 3.01B | 1.67B | 1.42B | 1.31B |
Cash Flow | ||||||
| Free Cash Flow | 179.71M | -308.26M | -171.54M | 301.67M | 16.03M | 380.10M |
| Operating Cash Flow | 233.97M | -113.67M | 78.42M | 327.11M | 102.39M | 418.88M |
| Investing Cash Flow | 886.18M | 449.12M | -798.43M | -218.62M | -134.94M | -88.17M |
| Financing Cash Flow | 62.48M | -14.65M | 987.72M | -109.47M | 26.61M | -330.25M |
Cupid Limited Technical Analysis
Positive
469.00
Price Trends
82.95
Positive
80.91
Positive
58.31
Positive
Market Momentum
1.54
Negative
63.30
Neutral
85.44
Negative
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 83.72, above the 50-day MA of 82.95, and above the 200-day MA of 58.31, indicating a bullish trend. The MACD of 1.54 indicates Negative momentum. The RSI at 63.30 is Neutral, neither overbought nor oversold. The STOCH value of 85.44 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:CUPID.
Cupid Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹50.95B | 18.62 | ― | ― | 6.03% | 0.51% | |
64 Neutral | ₹183.27B | 18.06 | ― | 1.91% | 0.84% | -2.44% | |
64 Neutral | ₹101.78B | 46.47 | ― | ― | 10.59% | 67.55% | |
64 Neutral | ₹82.57B | 31.99 | ― | 1.24% | 1.62% | -7.32% | |
63 Neutral | ₹123.56B | 105.91 | ― | ― | 34.55% | 20.95% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
59 Neutral | ₹1.10T | 62.79 | ― | 1.67% | 5.77% | ― |
* Consumer Cyclical Sector Average
IN:CUPID
Cupid Limited
91.89
79.92
667.67%
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Cupid Limited Corporate Events
Cupid Promoter Aditya Halwasiya Buys 480,000 Cupid Limited Shares on Open Market
Mar 30, 2026
Cupid Limited has disclosed that its promoter, chairman and managing director, Aditya Kumar Halwasiya, has acquired 480,000 equity shares of the company with a face value of Re 1 each through open market purchases. The company informed the BSE and...
Cupid Limited Publishes EGM Notice in Business Standard and Maharashtra Times
Jan 31, 2026
Cupid Limited has notified the stock exchanges that it has published the notice of its upcoming Extra Ordinary General Meeting (EGM) in the English daily Business Standard and the Marathi daily Maharashtra Times on 31 January 2026. The filing, add...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.