Why did Cupid shares skyrocket 14% today?

Synopsis: Cupid Ltd stock jumped 14% after a steep 25% correction, supported by two-way bulk deals at Rs 355 – Rs 375. Investors regained confidence as the management stated there are no adverse incidents and a record-order book amid their reiteration of revenue and PAT of FY26 at Rs 335 cr and Rs 100 cr, respectively.

The shares of this company, which is a major manufacturer of male and female condoms, personal lubricants, and in-vitro diagnostic (IVD) kits, had its shares in the news following a share price jump of 14% following a continued share price drop in previous sessions. 

With the market cap of Rs 11,370 crore, the shares of Cupid Ltd had hit their intraday high at Rs 444, gaining about 14 per cent compared to their previous day’s closing price of Rs 390.10. The shares are trading at a PE of 188, whereas their industry PE is at 51.1. 

Bulk deal

Bulk deal data reveals heavy two-way churn among the same set of market participants, indicating active trading rather than a clear directional exit. Entities like Mathisys Advisors, QE Securities, IRAGE Broking, Ishaan Tradefin, Junomoneta Finsol, HRTI Private, and Mansi Share & Stock Broking were seen buying and selling on the same day, largely in the Rs 355 to Rs 375 price range. 

While some participants offloaded sizable quantities, others simultaneously absorbed shares in similar volumes, suggesting position reshuffling and short-term arbitrage rather than structural stake reduction. Overall, the data indicates high liquidity and volatility, with supply being largely matched by demand and preventing a one-sided price collapse.

Why the jump in its share price? 

Cupid Ltd shares closed strongly on Tuesday, gaining 14% as they touched a new intraday high of Rs 444, erasing most losses that had accrued over two days, recording a decline of 25% in their stock. 

The major driver behind the rebound was the revival of investor confidence in the fundamentals of the firm. Following the sharp fall in the early part of the week, Cupid had made a statement to the stock exchanges that it was not aware of any unknown major events that may have led to such unusual trading activity and that its operations were on track.

The healthy pace of business in the third quarter of fiscal year 26 was another important reason cited by market players for this revival. Cupid Limited stated to the market that its order book stood at a record high; this offered better visibility on the revenue outlook for the coming quarters.

The management further reasserted its confidence in achieving and possibly outperforming its FY26 guidance of Rs 335 crore in revenue and Rs 100 crore in profit after tax. Such statements by the management helped to bring about a shift in perception towards value creation on a longer-term perspective, thereby encouraging dip buyers and damping the effects of profit-booking.

Financials  

The revenue from operations for the company stood at Rs 84 crores in Q2 FY26 compared to Q2 FY25 revenue of Rs 42 crores, up by about 100 per cent YoY. Similarly, the net profit stood at Rs 24 crore in Q2 FY26, up from Rs 10 crore profit in Q2 FY25.

Cupid Limited, established in the year 1993, is one of the leading manufacturing brands in India within the wellness and personal care industry, primarily acknowledged for male and female condoms, water-based personal lubricants, and IVD kits. The company, in its journey, has reached out to other products of the FMCG segment, such as deodorants, perfumes, almond hair oil, body oils, petroleum jelly, and other wellness products, apart from their core products related to public health. 

The group boasts an extensive global footprint and also has the distinction of being the world’s first organisation to have qualified as WHO/UNFPA-approved manufacturers of male and female condoms, an indispensable factor in taking part in global bids related to health.

Keeping with the growth plans, Cupid has expanded its portfolio of products into perfumes, perfumed pocket bottles, toilet sanitisers, products related to hair and body care, and face wash, thus diversifying its sources of revenue generation. These dual strengths of Cupid place it as an unmatched player within the ‘Wellness & Personal Care’ segment.

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