Cupid shares rise for second straight day after robust Q4 result

Cupid Limited shares gained for the second straight day after the company announced robust quarterly results, with a 51.5% YoY rise in revenue from operations and a 184% YoY increase in profit in the quarter ended March 31, 2024.

The company reported a total revenue of ₹62.9 crore as compared to ₹41.5 crore reported a year ago.

Shares of the contraceptives product maker closed at an upper circuit at ₹134 apiece on NSE after the result announcement on 8 April and gained as much as 3.5% today, with a day high of ₹138.3 apiece

The company’s EBITDA margin experienced a significant boost, climbing from 30.33% in Q3FY24 to 49.13% in Q4FY24, rising 18.8% compared to Q3FY24. Meanwhile, Cupid Limited posted a 184.53% YoY rise in net income at ₹23.72 crore from ₹8.34 crore reported a year ago.

Looking ahead, the company said it “remains confident about its growth trajectory and financial health, with no foreseeable headwinds in the near to mid-term.”

Cupid’s Managing Director, Aditya Kumar Halwasiya said the company is extending its ”global footprint, entering new geographies both internationally and within India. A recent addition to our growth strategy are our new product lines: IVD Kits and Deodorants, where we are enhancing our B2C presence through comprehensive, multi-pronged strategies.”

Cupid announced it is making progress on its plans to set up new manufacturing plans. Construction on the new plants is expected to commence this quarter, with production set to kick off from the new facility within the next 16 months.

Cupid Limited also said it is a “debt-free company and have a war-chest of cash and cash equivalents of ₹173.58 crores.”

The stock hit a 52-week high of ₹140.00 on March 1, 2024, and a 52-week low of ₹12.09 on July 10, 2023.