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Indian manufacturer of male and female condoms, lubricants and pregnancy test kits, largely sold via government/global tenders.
Indian manufacturer of male and female condoms, lubricants and pregnancy test kits, largely sold via government/global tenders.
Most sales are won in competitive tenders from health ministries and international agencies buying condoms for public health programmes, so volumes are lumpy and depend on winning orders and keeping international quality approvals. Retail and export sales under its own labels are a smaller outlet.
In one line: A niche Indian condom/contraceptive manufacturer.
Moat: narrow (regulatory licence, process know-how). WHO/international pre-qualification and manufacturing scale for female condoms, a niche few make.
Headquarters: Gujarat, India · Founded: 1993 · Employees: 235
Size Cupid (CUPID.NS) is an India Consumer Staples company (Household/Personal Care) with a market value of $4.83B, the 213th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹338.90 on 6 Nov 2026.
Performance Over six months the shares gained 158.4%, against -4.3% for the median peer and 0.0% for the India market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 121.7% over the last twelve months (peer median +5.6%); the operating margin is 34.3% (peer median 12.4%).
Valuation It trades at 100.7× enterprise value to sales against a peer median of 2.0× (most expensive of 21).
Capital Return on invested capital runs 13.4 points above its cost of capital (12.4% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹4.53B | ₹3.53B | ₹1.81B | ₹1.68B | ₹1.55B |
| Revenue growth | — | +95% | +8% | +8% | — |
| Gross profit | ₹2.25B | ₹1.59B | ₹725M | ₹820M | ₹649M |
| EBITDA | ₹1.60B | ₹1.15B | ₹411M | ₹483M | ₹385M |
| Net income | ₹1.37B | ₹1.08B | ₹409M | ₹399M | ₹316M |
| Free cash flow | n/a | ₹375M | -₹158M | -₹143M | ₹335M |
| Capital expenditure | n/a | ₹247M | ₹195M | ₹250M | ₹25.4M |
| Total debt | n/a | ₹564M | ₹190M | ₹121M | ₹59.7M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Cupid CUPID.NS | $4.83B | +158% | +122% | 34% | 100.7× | n/a |
| Reckitt Benckiser RKT.L | $47.6B | +22% | -2% | 28% | 3.3× | 1.6% |
| Okamoto Industries 5122.T | $648M | +6% | 0% | 6% | 0.7× | n/a |
| Church & Dwight CHD | $25.8B | +17% | +2% | 18% | 4.4× | 6.9% |
| Mankind Pharma MANKIND.NS | $11.1B | +7% | +13% | 21% | 7.0× | 27.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CUPID.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.5% | +1.0% | 8th lowest of 21 |
| 6-month return | +158.4% | -4.3% | highest of 21 |
| Distance from 52-week high | -8.1% | -23.5% | 6th highest of 21 |
| Revenue growth (TTM) | +121.7% | +5.6% | highest of 21 |
| Operating margin | 34.3% | 12.4% | highest of 21 |
| EV / Sales | 100.7× | 2.0× | most expensive of 21 |
| ROIC minus cost of capital | +13.4 pp | +3.4 pp | 6th highest of 20 |
| Net debt / EBITDA | -0.8× | -0.3× | 7th least indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Cupid CUPID.NS | India | $4.83B | +158% | +122% | 34% | 100.7× | n/a | n/a |
| Colgate-Palmolive (India) COLPAL.NS | India | $4.83B | -23% | +9% | 28% | 6.9× | 30.8% | +4.5% |
| Mao Geping Cosmetics 1318.HK | Hong Kong | $4.92B | -28% | +32% | 31% | 5.4× | 4.7% | +41.1% |
| Reynolds Consumer Products REYN | United States | $5.08B | +10% | +2% | 14% | 1.8× | -0.2% | +2.7% |
| Interparfums IPAR | United States | $4.34B | +43% | +3% | 17% | 3.0× | 10.9% | +22.5% |
| Rohto Pharmaceutical 4527.T | Japan | $3.97B | +17% | +10% | 12% | 1.8× | -2.1% | +13.7% |
| Amorepacific 090430.KS | South Korea | $6.03B | -1% | +10% | 9% | 1.8× | 4.0% | -0.8% |
| Coty COTY | United States | $3.57B | +64% | -1% | 5% | 1.3× | 11.3% | +4.6% |
| e.l.f. Beauty ELF | United States | $6.85B | +91% | +31% | 12% | 4.2× | 27.9% | +38.8% |
| APR 278470.KS | South Korea | $7.04B | -40% | +119% | 23% | 3.6× | -1.4% | +47.3% |
| Kobayashi Pharmaceutical 4967.T | Japan | $3.29B | +20% | +4% | 6% | 2.8× | 17.6% | +1.9% |
| Hengan Int'l 1044.HK | Hong Kong | $3.28B | -16% | +2% | 11% | 1.0× | -8.8% | -0.1% |
| Dabur India DABUR.NS | India | $7.13B | -19% | +9% | 15% | 4.6× | 27.3% | +6.6% |
| Lion 4912.T | Japan | $3.19B | +21% | +6% | 8% | 1.1× | -2.4% | +3.5% |
| Proya Cosmetics 603605.SS | China | $2.97B | -19% | +2% | 13% | 1.5× | -4.8% | +23.1% |
| Giant Biogene 2367.HK | Hong Kong | $2.76B | -34% | -10% | 32% | 2.2× | -8.0% | +34.9% |
| Winner Medical 300888.SZ | China | $2.69B | -2% | +4% | 11% | 1.5× | -4.3% | -2.6% |
| Gillette India GILLETTE.NS | India | $2.56B | -7% | +8% | 28% | 7.6× | 16.0% | +13.0% |
| LG H&h 051900.KS | South Korea | $2.56B | -8% | -3% | 3% | 0.6× | -0.1% | -4.1% |
| Godrej Consumer Products GODREJCP.NS | India | $9.19B | -18% | +12% | 18% | 5.3× | 31.7% | +6.6% |
| Shiseido 4911.T | Japan | $9.52B | +20% | +5% | 4% | 1.8× | 17.5% | +1.0% |