Cupid Stock Falls 20% From High, Recovers 14% From Low; 45 Lakh Shares Traded in Rs 163 Crore Deal

Shares of Cupid Ltd drew strong attention on Monday after a sizeable block transaction involving the company changed hands in the market. The deal involved around 45 lakh shares at Rs 362 apiece, taking the reported transaction value to approximately Rs 162.90 crore. The bulk trade represented nearly 5.3% of the company's outstanding equity.

Cupid Shares Fall 8% Despite Rs 163 Crore Block Deal

Despite the initial positive reaction, Cupid shares ended the session at Rs 270.90 on the National Stock Exchange (NSE) on August 17, down 7.82%. The stock traded between Rs 235.11 and Rs 295.35 during the day, highlighting the sharp volatility surrounding the counter.

Cupid Block Deal: 45 Lakh Shares Traded in Rs 163 Crore Transaction

The large transaction put Cupid back on investors' radar, particularly because of its size relative to the company's equity base. The identities of both parties involved in the transaction were not immediately confirmed through exchange disclosures.

A CNBC-TV18 report indicated that Aditya Halwasiya, who is associated with Cupid, was likely to have been the buyer. According to BSE shareholding data, Halwasiya owned 44,76,22,150 shares, equivalent to a 33.29% stake, at the end of the June quarter.

A block deal by itself does not necessarily signal a change in a company's underlying business prospects. However, when a large shareholder is reported to be involved, investors generally monitor subsequent shareholding disclosures for confirmation and to understand whether the transaction changes the promoter-linked holding.

Cupid Financial Performance Highlights: Revenue Target Raised to Rs 750 Crore

Cupid has set a higher financial target for FY27, raising its revenue guidance to Rs 725-750 crore. The company has also projected profit of Rs 210-225 crore for the financial year.

Management's outlook is supported by factors including its order pipeline, international business, manufacturing expansion and the growing contribution from its Consumer Healthcare and FMCG operations.

The company is attempting to build a broader business beyond its traditional condom manufacturing operations. Its portfolio now includes male and female condoms, personal lubricants, in-vitro diagnostic kits and FMCG products, giving it exposure to both institutional healthcare requirements and consumer markets.

Cupid Q1 Results: Net Profit Surges 194%

Cupid reported a substantial improvement in its June-quarter performance. Net profit increased 194% year-on-year to Rs 44.15 crore, compared with Rs 15.01 crore in the corresponding quarter of the previous year.

Total income also expanded sharply, rising 142% to Rs 156.98 crore from Rs 64.75 crore a year earlier. The strong increase in revenue was accompanied by significant improvement in operating profitability.

EBITDA climbed 265% year-on-year to Rs 60.06 crore, while the EBITDA margin expanded to 39%. The company reported an improvement of 1,127 basis points in the margin, indicating stronger operating leverage and a favourable contribution from its business mix.

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