Cupid shares rally 10% to hit record high after strong growth in Q2 show; 106% surge in material costs shrinks margins

Personal care company Cupid shares rallied around 10% during the trading session on Thursday, November 12, as equity market investors focused on the strong July to September quarter (Q2) FY27 earnings growth, while the material cost overhang pressured margins down in the period.

NSE data showed that Cupid share price surged around 10% to hit an intraday and record high of ₹389 apiece on Thursday’s market, in comparison to ₹354 apiece at the previous equity market close.

Trading activity surged above 2.82 crore equity shares on the National Stock Exchange (NSE) as of the morning market hours, triggering the high-volume gains on Thursday as the overall volumes increased 5 times over the one-week average of 55,60,934 shares.

The volumes surged 3.46 times above 81,73,839 equity shares on a two-week average basis. After hitting the day-high levels, the stock retracted some of its gains, trading around 7% higher at ₹379.40 apiece during the morning hours.

The company announced its Q2 earnings report for the fiscal year 2026-27, after the market operating hours on Wednesday, November 11.

How were the Q2 results?

In the Q2 results, Cupid posted a strong 133% increase in the company’s consolidated net profit (attributable to owners) to ₹56 crore, in comparison to ₹24 crore in the same period a year earlier.

The company’s profit growth comes against the backdrop of strong revenue gains in the September quarter, which increased 122.4% year-on-year (YoY) to ₹188 crore, from ₹84 crore in the same quarter a year earlier.

Despite the healthy revenue growth and profits in the Q2 earnings, the overall margins remained under pressure and contracted during the period due to the elevated material costs.

Data showed that Cupid’s material costs increased 106.7% YoY to ₹46 crore in the period under review, from ₹22.42 crore in the same period a year earlier. This resulted in an overall 134% increase in total expenses for the September quarter.

The company’s operating profit or earnings before interest, tax, depreciation, and amortisation (EBITDA) increased nearly 93% YoY to ₹55 crore, from ₹28 crore. In contrast, the EBITDA margins contracted to 29.1% from 33.6% in the same period a year earlier.

Stock rallies 263%

Cupid shares have delivered more than 263% returns to investors on a year-to-date (YTD) basis so far in 2026, and have risen 5.5% in the last one-month period. NSE data showed that the company’s stock has gained nearly 12% in the last five sessions.

On a longer-term basis, the stock has rallied 16,290% in the last five years, delivered more than 4,186% returns on its investment in the last three years, and has gained 583% returns in the past one-year period, according to the exchange data.

Shares of Cupid hit their 52-week high on Thursday’s market, while the 52-week low was at ₹50.10 apiece on November 11, 2025.

The company’s market capitalisation (m-cap) was at ₹51,601.35 crore as of the trading session on Thursday, November 12, 2026.