4:1 Bonus Shares: Stock skyrockets 13% after reporting 200% YoY profit growth; Announces bonus issue

Synopsis:- Shares surged 13% after a strong Q3FY26 performance and a 4:1 bonus announcement. Backed by a $12.98 million annual South Africa program, 1.5 lakh kits daily IVD capacity, and presence across 1.5 lakh retail outlets, management expects FY26 to be its strongest year yet.

The shares of the premier condom manufacturer gained up to 13 percent in today’s trading session after the company reported a skyrocketing Q3FY26 earnings and also approved a bonus issue.

With a market capitalisation of Rs 11,578.99 crore, the shares of Cupid Ltd were trading at Rs 431.30 per share, increasing around 11 percent as compared to the previous closing price of Rs 390.25 apiece.

Q3FY26 Highlights

The shares of Cupid Ltd have seen significant movement after announcing its financial performance in Q3FY26, in which revenue increased by 104 percent on a year-on-year basis from Rs 51 crore in Q3FY25 to Rs 104 crore in Q3FY26. However, on a Quarter-on-Quarter basis, revenue increased by 16 percent from Rs 90 crore in Q2FY26 to Rs 104 crore in Q3FY26.

Moreover, net profit increased by 200 percent on a yearly basis from Rs 11 crore in Q3FY25 to Rs 33 crore in Q3FY26, meanwhile, on a quarter-on-quarter basis, net profit increased by 38 percent from Rs 24 crore in Q2FY26 to Rs 33 crore in Q3FY26. 

The key growth driver is South Africa’s 5-year National Condom Program (2025–2030), with an annual allocation of about $12.98 million ( Rs 115 crore). This includes 23.4 million female condoms and around 153 million male condoms per year. Additionally, markets like Tanzania, Brazil, Kenya, Ethiopia, the Philippines, CIS, the EU, and the Middle East offer strong long-term growth opportunities.

The domestic FMCG business is witnessing strong market traction, driven by expanding product offerings in personal care and wellness. The company has strengthened its retail presence with 58+ super stockists, 1,050+ distributors and access to over 1.50 lakh retail outlets nationwide. This growing B2C segment complements its export-led B2B model, supporting margin diversification and brand building.

Furthermore, the company has received in-principle approval to set up an FMCG manufacturing facility in Saudi Arabia to strengthen its presence in the GCC and Middle East markets. This move aims to localise manufacturing, enhance distribution efficiency and improve responsiveness. Combined India and GCC operations are expected to boost scalability and operational flexibility.

Meanwhile, the IVD diagnostics segment is emerging as a key growth driver with 15 rapid test kits in production and three under development. Current capacity stands at 1.5 lakh kits per day, targeted to reach 4 lakh by end-2026. Certifications and government tender eligibility provide strong demand visibility.

Management expects FY26 to be the strongest year in the company’s history, with revenues likely to exceed  Rs 335 crore and net profit crossing  Rs 100 crore. H2FY26 is projected to outperform H1, supported by a record order book, long-duration international programs and improved execution. The positive momentum is expected to continue into FY27 and beyond.

Bonus Issue

Additionally, Cupid Limited Announces 4:1 Bonus Issue. Under the proposed bonus issue, eligible shareholders will receive four (4) fully paid-up equity shares for every one (1) equity share held by them as on the record date, which will be announced in due course.

Cupid Limited is an Indian healthcare and FMCG company known for manufacturing male and female condoms and other personal wellness products. The company has a strong presence in global markets, supplying to government institutions and international agencies, while expanding its domestic FMCG and diagnostics businesses for long-term growth.

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