Cupid Limited Reports Record Q4 FY26: Revenue Up 116% YoY to ₹132 Cr, Net Profit Up 215% YoY to ₹36 Cr
Cupid Limited reported a record Q4 FY26 with revenue up 116% YoY to ₹132 crore and net profit up 215% YoY to ₹36 crore. Full-year FY26 revenue reached ₹391 crore (up 93% YoY) and net profit ₹108 crore (up 165% YoY), surpassing guidance. The company is investing ₹331.53 crore in FMCG distribution via Baazar Style Retail and developing nitrile female condoms.
The announcement details record financial performance, significant YoY growth in key metrics, strategic investments, capacity expansions, and new product development, all of which are likely to have a substantial positive impact on the company's market position and investor sentiment.
The company reported record financial results with significant year-over-year growth in revenue and net profit, surpassing its own guidance. Strategic investments and capacity expansions were also highlighted, indicating positive future prospects.
Cupid Limited has announced its strongest ever quarterly performance in Q4 FY26, with the quarter ending March 31, 2026. The company reported a total income of ₹132.04 crore, marking a significant 116% year-over-year (YoY) increase from ₹61.11 crore in Q4 FY25. Operating income grew by 112% YoY to ₹119.96 crore. EBITDA saw a substantial surge of 180% YoY to ₹37.52 crore, and Profit Before Tax (PBT) increased by 197% YoY to ₹47.45 crore. Net profit for the quarter rose by an impressive 215% YoY to ₹36.26 crore, compared to ₹11.51 crore in the same period last year.
For the full financial year FY26, Cupid Limited achieved a record revenue of ₹391.40 crore, a 93% YoY increase from ₹203.18 crore in FY25. The company also surpassed its FY26 annual guidance of ₹335 crore revenue and ₹100 crore net profit, reporting a full-year net profit of ₹108.23 crore, a 165% YoY growth.
The company's strong performance was driven by scale-up across key business segments, including male condoms (₹181.11 crore in FY26), female condoms (₹60.72 crore), newly launched FMCG products (₹84.26 crore), and IVD kits and personal lubricants (₹24.97 crore). Exports contributed ₹208.13 crore, representing 59.30% of the total revenue, with products exported to over 125 countries.
Cupid Limited is strategically investing in its FMCG distribution and ecosystem, including a ₹331.53 crore investment in Baazar Style Retail Limited, with an initial deployment of ₹82.88 crore. This investment provides access to over 250 stores, with plans to expand to over 500 stores in the next 2-3 years, expected to generate approximately ₹150 crore in incremental revenue in FY27 and scale up to ₹500 crore annually over the medium term.
The company has also commenced the development program for nitrile female condoms, targeting a premium global segment. Its new manufacturing facility is designed with integrated dual polymer dipping capability, positioning Cupid as the only condom manufacturer in India with manufacturing capabilities for male, female, and nitrile female condoms. Upon full commissioning, the expanded capacity is expected to support annual production of approximately 1.25 billion male condoms and 125 million female condoms.
Furthermore, Cupid Limited received CE (EU IVDR) certification for its HIV 1&2 Antibody, Hepatitis B, Syphilis, and Pregnancy test kits during FY26, strengthening its international opportunities in regulated markets.
The company has set medium-term financial targets, aiming for ₹600 crore revenue and ₹180 crore net profit in FY27, ₹875 crore revenue and ₹275 crore net profit in FY28, and ₹1,150 crore revenue and ₹390 crore net profit in FY29.
Mr. Aditya Kumar Halwasiya, Chairman and Managing Director, commented on the performance, highlighting the historic results, the strategic nitrile female condom development, the 'Made in India with Japanese Quality' initiative, diagnostic certifications, and the significant FMCG distribution strengthening through the Baazar Style Retail investment. He expressed confidence in sustaining the growth trajectory and achieving the FY27 revenue target of ₹600 crore with net margins above 30%.
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Cupid Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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