Cupid Limited Delivers Strong Q1 FY27 Performance with 159% YoY Operating Income Growth, 194% YoY Net Profit Growth

PNN
Mumbai (Maharashtra) [India], August 11: Cupid Limited ("Cupid" or "the Company"), Bharat's rapidly growing consumer wellness and personal care company with a strong global healthcare franchise, announced its financial results for the quarter ended 30th June, 2026. Supported by continued business momentum and improved visibility across its healthcare and consumer businesses.
Key Consolidated Financial Highlights
Q1 FY27 (YoY)
- Total Income of ₹ 156.98 Cr, YoY growth of 142%
- Operating Income of ₹ 154.72 Cr, YoY growth of 159%
- EBITDA of ₹ 60.06 Cr, YoY growth of 265%
- EBITDA Margin of 39%, YoY growth of 1,127 Bps
- Net Profit of ₹ 44.14 Cr, YoY growth of 194%
- Net Profit Margin of 29%, YoY growth of 344 Bps
- EPS of ₹ 0.32, YoY growth of 220%
Q1 FY27 (QoQ)
- Total Income of ₹ 156.98 Cr, QoQ growth of 19%
- Operating Income of ₹ 154.72 Cr, QoQ growth of 29%
- EBITDA of ₹ 60.06 Cr, QoQ growth of 60%
- EBITDA Margin of 39%, QoQ growth of 755 Bps
- Net Profit of ₹ 44.14 Cr, QoQ growth of 22%
- Net Profit Margin of 29%
- EPS of ₹ 0.32, QoQ growth of 23%
Strong Start To FY27
- Cupid commenced FY27 with strong momentum across its international B2B healthcare and domestic Consumer Healthcare & FMCG businesses, supported by healthy execution across key operating segments.
- The Company's international B2B healthcare business continued to witness robust demand across PFSCM, WHO/UNFPA, institutional procurement programmes, government tenders and private export markets, providing strong order visibility and a healthy revenue pipeline.
- Strong growth in operating income reflects the increasing contribution of the Company's core operating businesses, reinforcing the quality of earnings and the sustainability of its growth trajectory.
- The Company expects sizeable orders across its IVD Kits portfolio from multiple State Governments in India, along with significant international opportunities following the receipt of CE certifications. Several opportunities are in the final stages of the award process, providing a strong near-term growth pipeline.
- The Company has implemented a minimum 10% price increase across its export portfolio, supporting improved realizations and margin expansion.
- A favourable USD/INR environment has supported export realizations, while prudent hedging of currency exposure relating to international investments helps mitigate foreign exchange risk.
- Supported by a strong order book, expanding Consumer Healthcare & FMCG portfolio, healthy international B2B demand and expectations of robust performance during the second half of FY27, the Company has enhanced its FY27 guidance to ₹725 Cr - ₹750 Cr in revenue and ₹210 Cr - ₹ 225 Cr in Net Profit, reinforcing confidence in its long-term growth trajectory.
- During FY26, the Company's Consumer Healthcare & FMCG portfolio contributed revenue of ₹121.61 crore, comprising domestic sales of male and female condoms, IVD kits, personal lubricants and newly launched FMCG products, including ₹84.26 crore from the newly launched FMCG portfolio.
Strategic Investments Supporting Long-Term Value Creation
- Strategic investments in Baazar Style Retail and GII Healthcare complement Cupid's Consumer Healthcare & FMCG and global healthcare businesses.
- These strategic investments are expected to be value accretive over FY27 and beyond, supporting long-term shareholder value creation while strengthening Cupid's healthcare ecosystem, consumer platform and future growth opportunities.
Palava Facility Progressing Towards Commissioning
- The Palava manufacturing facility remains on schedule for commissioning during Q2 FY27, significantly enhancing Cupid's production capabilities and long-term manufacturing capacity.
- The facility will support annual capacity of approximately 1.25 billion male condoms and 125 million female condoms, including incremental capacity of approximately 770 million male condoms and 75 million female condoms.
- Dual-polymer dipping technology, Natural Rubber Latex and Nitrile capabilities, dedicated production lines and interchangeable manufacturing lines will improve flexibility, supply reliability, tender participation and operating leverage.


- The Company has enhanced its FY27 guidance to ₹725 Cr - ₹750 Cr in revenue and ₹210 Cr - ₹225 Cr in Net Profit, supported by a strong order book, sustained momentum across its international B2B healthcare business and continued expansion of its Consumer Healthcare & FMCG portfolio.
- The revised outlook reflects management's confidence in delivering strong performance through the remainder of FY27, supported by manufacturing expansion, healthy order visibility, operating leverage and multiple strategic initiatives to drive sustainable long-term growth.
Management Commentary
Commenting on the performance, Mr. Aditya Kumar Halwasiya, Chairman and Managing Director, Cupid Limited, said:
"We have commenced FY27 with strong momentum across both our international B2B healthcare and Consumer Healthcare & FMCG businesses. Healthy execution during the quarter, improving order visibility and sustained demand across our core segments have strengthened our confidence in the Company's growth trajectory. Supported by a robust order book, healthy business momentum and strong visibility across our key operating segments, we have enhanced our FY27 guidance to ₹725 Cr - ₹750 Cr in revenue and ₹210 Cr - ₹225 Cr in Net Profit.
Our Consumer Healthcare & FMCG business continues to gain meaningful traction and remains an important pillar of our long-term growth strategy. During the quarter, the business witnessed encouraging momentum across our diversified portfolio, supported by growing consumer acceptance and an expanding presence across modern trade, organised retail and pharmacy channels. We continue to strengthen our market penetration through a broad portfolio spanning domestic male and female condoms, IVD kits, personal lubricants and an expanding range of personal care and wellness products, positioning the business for sustainable long-term growth.
Our international B2B healthcare business continues to demonstrate healthy momentum, supported by strong demand across PFSCM, WHO/UNFPA and other institutional procurement programmes, government tenders and private export markets. This diversified order pipeline provides strong revenue visibility and reinforces our leadership across global healthcare markets. The commissioning of our Palava manufacturing facility during Q2 FY27 will further strengthen our manufacturing flexibility, enhance supply capabilities and support future growth across both international healthcare and domestic Consumer Healthcare & FMCG businesses.
We also expect our strategic investments to be value accretive for the Company over FY27 and beyond, further strengthening our long-term growth platform. Looking ahead, we remain focused on disciplined execution, maintaining healthy margins and building a future-ready organisation through continued investments in manufacturing, product innovation, international B2B healthcare and Consumer Healthcare & FMCG businesses. We believe these strategic initiatives position Cupid to deliver sustainable long-term growth and create enduring value for all our stakeholders."
About Cupid Limited
Established in 1993, Cupid Limited is one of Bharat's leading healthcare and consumer wellness companies, engaged in the manufacturing and marketing of male and female condoms, water-based personal lubricants, IVD kits and a growing portfolio of Consumer Healthcare & FMCG products. The Company operates with a strong commitment to public health and quality, maintaining ethical business practices aligned with international standards.
Cupid's Consumer Healthcare & FMCG portfolio includes fragrance products (Eau De Parfums, Deodorants and Pocket Perfumes), personal care products (Hair Removal Sprays, Face Wash, Hair & Body Oils, Toilet Sanitizers), wellness products, IVD kits, personal lubricants and other consumer healthcare offerings. The Company continues to strengthen its domestic presence through an expanding network across modern trade, organised retail and pharmacy channels, enabling deeper market penetration across India.
The Company is also expanding its manufacturing capabilities through its upcoming Palava manufacturing facility, which will significantly enhance production flexibility and support the growing demand across both international B2B healthcare and domestic Consumer Healthcare & FMCG businesses.
Cupid has a strong international presence with exports to 125+ countries and is the first company in the world to receive WHO/UNFPA prequalification for both male and female condoms. The Company serves a diversified global customer base through PFSCM, WHO/UNFPA, institutional procurement programmes, government tenders and private export markets, reinforcing its position as a trusted global healthcare supplier.
Cupid Limited is listed on the BSE (530843) and NSE (CUPID).
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