Although the stock pared some gains from the day’s high, buying interest remained firm. At the last count, Cupid shares were trading at Rs 355.75 apiece on the NSE, up 3.43% from the previous close of Rs 343.95. The stock traded in a range of Rs 344 to Rs 356.90 during Thursday’s session.
Cupid shares have delivered a sharp rally in 2026 despite weakness in the broader market. The stock has gained 238.78% year-to-date, compared with a 14% decline in the Nifty 50 over the same period, according to NSE data.
What's behind Cupid's rally?
Cupid, in an exchange filing on September 30, said that it continues to witness strong business momentum in FY27, with Q2 FY27 total revenue expected to cross Rs 200 crore.Driven by sustained momentum across its key business verticals and improved visibility across domestic and international markets, the company revised its FY27 revenue guidance to Rs 800 crore-plus and net profit guidance to Rs 250 crore-plus.
"The FY27 outlook has been revised upward," the company said, citing strong Q2 FY27 business momentum expected to continue through Q3 and Q4 FY27, improved visibility across institutional and private markets, continued expansion of its domestic FMCG business, progress towards the operationalisation of the Palava facility, and sustained growth across its healthcare and personal care portfolio.
Q2 FY27 operational highlights
Cupid approved the conversion of up to 30 lakh warrants of Baazar Style Retail Limited into an equivalent number of equity shares at Rs 328.25 per share.The company received in-principle approval for a manufacturing venture in South Africa. The proposed facility aims to support local manufacturing and create a platform for expansion across Africa and international markets.
The South African manufacturing initiative will follow an asset-light model, combining Cupid's manufacturing expertise with support from a local partner to create a platform for institutional procurement and wider African market expansion.
Cupid strengthened its strategic healthcare partnership with GII Healthcare Investment Limited through an additional $5 million follow-on investment.
The company continues to expand its healthcare and personal care platform, with a growing FMCG portfolio and manufacturing capabilities supporting its international B2B healthcare and domestic consumer businesses.
The company was included in BSE Group 'A', the NIFTY Small Cap 250 and the FTSE Emerging Markets All Cap Index, while continuing to focus on governance, compliance and execution.
About Cupid
Established in 1993, Cupid Ltd is engaged in the manufacturing and marketing of male and female condoms, water-based personal lubricants, IVD kits and a growing portfolio of consumer healthcare and FMCG products.The company operates with a focus on public health and quality and maintains business practices aligned with international standards.
Disclosure: This article has been written by Kumar Gaurav, who is not a Sebi-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective Sebi-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here
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