1:10 Split, 1:1 Bonus: Multibagger Smallcap Stock Below Rs 130, In Focus On April 9 After Strong Q4

Personal care products maker, CUPID Ltd, has announced its Q4 results for FY24 and it recorded double-digit growth across verticles. Accordingly, the company's share price will be in focus on April 9. Last week, the stock split into a 1:10 ratio and identified eligible shareholders for a bonus issue of 1:1. CUPID is a multi-bagger!

CUPID Q4 Results:

In its regulatory filing, CUPID said it has achieved its highest quarterly sales, EBITDA (₹3,090 lacs in Q4FY24), and PAT (₹2,371 lacs in Q4FY24) numbers and margins to date.

During the fourth quarter, the company's operating income saw a remarkable increase of 57.04% quarter-over-quarter, soaring from ₹4,005 lacs in Q3FY24 to ₹6,289 lacs in Q4FY24. While its EBITDA margins experienced a significant boost, climbing from 30.33% in Q3FY24 to 49.13% in Q4FY24, marking an improvement of 18.8% quarter-over-quarter.

Not just that but PAT margins also improved significantly, from 22.13% in Q3FY24 to 37.71% in Q4FY24, an increase of 15.58% quarter-over-quarter.

CUPID FY24 Performance:

For the full fiscal year 2023-24, CUPID announced that its operating income grew by 7.38%, from ₹15,932 lacs in FY23 to ₹17,108 lacs in FY24. While Year-over-year, EBITDA margins rose by 3.36%, from 25.93% in FY23 to 29.28% in FY24. And compared to the previous fiscal year, PAT margins grew by 3.47%, from 19.82% in FY23 to 23.29% in FY24.

CUPID said, "These achievements reflect Cupid Limited's robust growth across all segments, underpinned by
innovative strategies and operational excellence."

CUPID Ltd Outlook:

Looking ahead, in a message to all CUPID shareholders, Aditya Kumar Halwasiya who is the Managing Director said, "The acquisition of land for our new plant marks the beginning of a new chapter for Cupid Limited. With full-fledged construction commencing this quarter, we anticipate the start of production in the new facility within the next 16 months."

Also, he added, "Cupid Limited remains confident about its growth trajectory and financial health, with no foreseeable headwinds in the near to mid-term. Our unwavering commitment to all our stakeholders and the pursuit of global expansion continues to drive us toward achieving new heights."

CUPID Ltd Share Price:

On April 8th, CUPID shares halted its back-to-back 5% upper circuits spree and ended at Rs 127.65 apiece, down by 1.05% on BSE with a market cap of Rs 3,425.55 crore.

The stock's 52-week high is Rs 141.65 apiece. While the stock is currently trading higher by 963% from its 52-week low of Rs 12.01 apiece.

CUPID Stock Split:

CUPID turned ex-split on April 4 which was also its record date to determine eligible shareholders for bonus issue and splitting benefits.

The split was in the ratio of 1:10, meaning a sub-division of 1 (One) Equity Share of the face value of Rs 101 each fully paid up into 10 (10) Equity Shares of the face value of Re. 1/- each fully paid up.

CUPID Bonus Issue:

Apart from the stock split, CUPID turned ex-bonus and identified eligible shareholders on April 4, in the ratio of 1:1 -- meaning -- 1 (One) Bonus Equity Share of the face value of Re. 1l- each fully paid up for every 1 (One) existing Equity Share of Face Value of Re, 1/- each fully paid up.

About CUPID:

Incorporated in 1993, CUPID Limited is India's premier manufacturer of male and female condoms, water-based lubricant jelly, and IVD kits. The company boasts a production capacity of up to 480 million male condoms, 52 million female condoms, 210 million sachets of lubricant jelly and 20 million IVD Test Kits annually. In December 2023, the company announced a strategic land acquisition that will enable it to amplify its production capacity by 1.5 times the existing output. As a result, the annual production capacity will be augmented by approximately 770 million male condoms and 75 million female condoms.

This expansion is in addition to the current production capacity. The company has a prominent presence in the international markets and holds the distinction of being the first company in the world to attain WHO/UNFPA pre-qualification for male and female condoms.

At present, CUPID exports its products to over 105 countries, with over 90% of its revenue generated from international markets. Furthermore, CUPID has established a long-term agreement with WHO/UNFPA.