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MomentumDeep Value

Cupid Ltd: Stock Analysis & Fundamentals

Updated this week

Cupid Ltd (Contraceptives/Protectives) — fundamental analysis, earnings data, and key metrics. PE: 136.0. ROE: 12.9%. This stock is not currently in the Nifty 500 momentum outperformers list.

What's Happening

📊Debt increased 42% YoY — leverage rising
🌐FII stake decreased 0.8% this quarter

Earnings Acceleration Triggers

1. Palava facility expansion commissioning
FY26-FY27MEDIUM
2. Record order book execution
H2 FY26 into FY27HIGH
3. Margin expansion trend continuation
Next 2-4 quartersMEDIUM

Key Risks

1. Capacity expansion execution risk
MEDIUM
2. Margin compression risk
LOW

Key Numbers

Current Price
₹85
Market Cap
11.4K Cr
Valuation
N/A

Why Are Cupid Ltd's Earnings Accelerating?

Based on Q3 FY26 earnings • Updated Feb 22, 2026

Palava facility expansion commissioning

Expected: FY26-FY27MEDIUM confidence

What: New capacity coming online to support revenue growth

“Capacity expansion at the Palava manufacturing facility is progressing as planned in line with our growth roadmap”

Record order book execution

Expected: H2 FY26 into FY27HIGH confidence+₹335 Cr revenue

What: All-time high order book supporting revenue visibility

Impact: +₹335 Cr revenue

“Our order book is at an all-time high, providing clear revenue visibility and confidence in sustained performance ahead”

Margin expansion trend continuation

Expected: Next 2-4 quartersMEDIUM confidence

What: 37% EBITDA margin driving disproportionate PAT growth

“EBITDA Margin of 37%, QoQ growth of 304 Bps”

What Are the Key Risks for Cupid Ltd?

Earnings deceleration risks from management commentary

Capacity expansion execution risk

MEDIUM

Trigger: Construction delays or ramp-up issues

Management view: Expansion progressing as planned but no specific risk mitigation discussed

Monitor: Capacity utilization rates post-commissioning

Margin compression risk

LOW

Trigger: Intensifying competition in export markets

Management view: Not explicitly addressed in available materials

Monitor: Quarterly EBITDA margin trends

What Is Cupid Ltd's Management Saying?

Key quotes from recent conference calls

“Capacity expansion at the Palava manufacturing facility is progressing as planned in line with our growth roadmap. — Aditya Kumar Halwasiya”
“Q3 FY26 is the strongest quarter in Cupid Limited's history, driven by disciplined execution and strong momentum across businesses. — Aditya Kumar Halwasiya”
“Our order book is at an all-time high, providing clear revenue visibility and confidence in sustained performance ahead. — Aditya Kumar Halwasiya”
“We are confident of exceeding FY26 revenue guidance of ₹335 Cr, with net profit expected to exceed ₹100 Cr. — Aditya Kumar Halwasiya”

What Is Cupid Ltd's Management Guidance?

Forward-looking targets from management for FY26

Management Tone: BULLISH

Key Milestones

• Exceed ₹335 cr revenue target

• Net profit > ₹100 cr

The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Feb 22, 2026.

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Frequently Asked Questions: Cupid Ltd

Based on publicly available financial data. This is educational research, not investment advice.

What were Cupid Ltd's latest quarterly results?

Cupid Ltd's latest quarterly results (Dec 2025) show

  • PAT Growth YoY: +200.0%
  • Revenue Growth YoY: +104.3%
  • Operating Margin: 37.0%

What is Cupid Ltd's current PE ratio?

Cupid Ltd's current PE ratio is 136.0x.

  • Current PE: 136.0x
  • Market Cap: 11.4K Cr

What is Cupid Ltd's price-to-book ratio?

Cupid Ltd's price-to-book ratio is 29.8x.

  • Price-to-Book (P/B): 29.8x
  • Book Value per Share: ₹3
  • Current Price: ₹85

Is Cupid Ltd a fundamentally strong company?

Cupid Ltd's fundamental strength based on key financial ratios

  • Return on Capital (ROCE): 17.0%

Is Cupid Ltd debt free?

Cupid Ltd has a debt-to-equity ratio of N/A.

  • Total Debt: ₹19 Cr

What is Cupid Ltd's return on equity (ROE) and ROCE?

Cupid Ltd's return ratios over recent years

  • FY2023: ROCE 26.0%
  • FY2024: ROCE 22.0%
  • FY2025: ROCE 17.0%

Is Cupid Ltd's cash flow positive?

Cupid Ltd's operating cash flow is negative (FY2025).

  • Cash from Operations (CFO): ₹-11 Cr
  • Free Cash Flow (FCF): ₹34 Cr
  • CFO/PAT Ratio: -27% (weak cash conversion)

What is Cupid Ltd's dividend yield?

Cupid Ltd currently does not pay a significant dividend (yield 0.00%).

  • Dividend Yield: 0.00%
  • Current Price: ₹85

Who holds Cupid Ltd shares — promoters, FII, DII?

Cupid Ltd's shareholding pattern (Mar 2026)

  • Promoters: 46.0%
  • FII (Foreign): 0.9%
  • DII (Domestic): 0.1%
  • Public: 53.1%

Is promoter holding increasing or decreasing in Cupid Ltd?

Cupid Ltd's promoter holding has increased recently.

  • Current Promoter Holding: 46.0% (Mar 2026)
  • Previous Quarter: 45.6% (Dec 2025)
  • Change: +0.39% (increasing — positive signal)

Is Cupid Ltd a new momentum entry or an established outperformer?

Cupid Ltd is an established outperformer with 1 weeks of consecutive Nifty 500 outperformance.

What are the growth catalysts for Cupid Ltd?

Cupid Ltd has 3 key growth catalysts identified from recent earnings analysis

  • Palava facility expansion commissioning
  • Record order book execution
  • Margin expansion trend continuation

What are the key risks in Cupid Ltd?

Cupid Ltd has 2 key risks worth monitoring

  • Capacity expansion execution risk
  • Margin compression risk

What did Cupid Ltd's management say in the latest earnings call?

In Q3 FY26, Cupid Ltd's management highlighted

  • "Capacity expansion at the Palava manufacturing facility is progressing as planned in line with our growth roadmap. — Aditya Kumar Halwasiya"
  • "Q3 FY26 is the strongest quarter in Cupid Limited's history, driven by disciplined execution and strong momentum across businesses. — Aditya Kumar Hal..."
  • "Our order book is at an all-time high, providing clear revenue visibility and confidence in sustained performance ahead. — Aditya Kumar Halwasiya"

What is Cupid Ltd's management guidance for growth?

Cupid Ltd's management has provided the following forward guidance for FY26

  • Management tone: bullish
  • Milestone: Exceed ₹335 cr revenue target
  • Milestone: Net profit > ₹100 cr

Is Cupid Ltd worth studying for long term investment?

Based on quantitative research signals, here is why Cupid Ltd may be worth studying

  • Currently showing mixed signals — monitor for clearer trend confirmation

What is the investment thesis for Cupid Ltd?

Cupid Ltd investment thesis summary:

Research Signals (Bull Case)

  • Growth catalyst: Palava facility expansion commissioning

Risk Factors (Bear Case)

  • Key risk: Capacity expansion execution risk

What is the future outlook for Cupid Ltd?

Cupid Ltd's forward outlook based on current data signals

  • Key Catalyst: Palava facility expansion commissioning
  • Key Risk: Capacity expansion execution risk

The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.