Cupid Limited (CUPID) AI Stock Analysis

Cupid Limited

(NSE:CUPID)

Select Model

Rating:74Outperform

Price Target:INR 363.00▲(11.85% Upside)

Action:upgraded

Date:08/18/26

The overall score reflects strong financial performance and a robust price uptrend as the main positives, offset by an exceptionally expensive valuation and elevated volatility, which together limit the risk‑adjusted appeal at current levels.

Positive Factors

Strong profitability and revenue growthThe combination of accelerated revenue growth and high profitability indicates strong recent operating performance and improving earnings power. If these economics persist, Cupid can reinvest in products, distribution, and market expansion while retaining more profit from each unit sold.

Negative Factors

Volatile cash conversionUneven operating cash flow weakens confidence that reported profits consistently convert into funds available for reinvestment or balance-sheet strengthening. The recent improvement is constructive, but prior negative cash flow and sub-one-times earnings coverage indicate ongoing working-capital and cash-conversion risk.

Cupid Limited (CUPID) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 436.41B
Dividend Yield: ―
Average Volume (3M): 2.66M
Price to Earnings (P/E): 318.2
Beta (1Y): 1.46
Revenue Growth: 121.66%
EPS Growth: 188.33%
Country: India
Employees: 169
Sector: General
Sector Strength: 55
Industry: Household & Personal Products

Cupid Limited Business Overview & Revenue Model

Company Description

Cupid Limited specializes in the development, manufacturing, and global distribution of both male and female condoms, serving markets in India and internationally. Beyond its core contraceptive offerings, the company's product portfolio also encompas...

How the Company Makes Money

Cupid Limited makes money primarily by manufacturing and selling condoms and related sexual-wellness/barrier-contraceptive products. Its revenue model is based on product sales through multiple channels: (1) Institutional/tender sales, where it suppl...

Cupid Limited Financial Statement Overview

Summary

Strong revenue and profit growth, high margins, and attractive returns on equity support a high score, partially tempered by declining gross margins and historically volatile cash flows.

Income Statement

88Very Positive

Balance Sheet

86Very Positive

Cash Flow

74Positive

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	4.53B	3.58B	1.81B	1.68B	1.56B	1.33B
Gross Profit	2.54B	1.73B	1.13B	1.08B	904.96M	707.46M
EBITDA	1.91B	1.50B	612.71M	561.05M	455.73M	273.02M
Net Income	1.37B	1.08B	408.87M	398.55M	315.83M	172.79M
Balance Sheet
Total Assets	0	5.53B	3.72B	3.20B	1.89B	1.74B
Cash, Cash Equivalents and Short-Term Investments	1.86B	1.86B	1.55B	1.87B	782.87M	736.37M
Total Debt	0	563.78M	189.90M	120.58M	59.75M	87.97M
Total Liabilities	-4.51B	1.02B	295.84M	186.53M	217.07M	318.91M
Stockholders Equity	4.51B	4.51B	3.42B	3.01B	1.67B	1.42B
Cash Flow
Free Cash Flow	179.71M	390.05M	-308.26M	-171.54M	301.67M	16.03M
Operating Cash Flow	233.97M	636.97M	-113.67M	78.42M	327.11M	102.39M
Investing Cash Flow	886.18M	100.44M	449.12M	-798.43M	-218.62M	-134.94M
Financing Cash Flow	62.48M	357.74M	-14.65M	987.72M	-109.47M	26.61M

Cupid Limited Technical Analysis

Technical Analysis SentimentPositive

Last Price324.55

Price Trends

50DMA300.55Positive

100DMA256.99Positive

200DMA177.25Positive

Market Momentum

MACD5.91Positive

RSI53.48Neutral

STOCH31.41Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:CUPID, the sentiment is Positive. The current price of 324.55 is below the 20-day moving average (MA) of 334.11, above the 50-day MA of 300.55, and above the 200-day MA of 177.25, indicating a neutral trend. The MACD of 5.91 indicates Positive momentum. The RSI at 53.48 is Neutral, neither overbought nor oversold. The STOCH value of 31.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:CUPID.

Cupid Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:CUPID against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:MARICO	79Outperform	INR 1.04T	54.87	―	0.50%	25.00%	12.83%
IN:CUPID	74Outperform	INR 436.41B	318.19	―	―	121.66%	188.33%
IN:HINDUNILVR	69Neutral	INR 4.38T	29.09	―	2.20%	6.41%	38.32%
IN:PGHH	69Neutral	INR 222.53B	28.13	―	4.28%	-1.54%	-4.58%
IN:GODREJCP	65Neutral	INR 834.22B	42.32	―	2.44%	12.02%	8.49%
IN:HONASA	63Neutral	INR 144.12B	57.79	―	0.68%	21.08%	237.04%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

IN:CUPID and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:CUPID	Cupid Limited	324.55	275.66	563.84%
IN:GODREJCP	Godrej Consumer Products Limited	815.10	-341.22	-29.51%
IN:HINDUNILVR	Hindustan Unilever Limited	1864.00	-515.09	-21.65%
IN:HONASA	Honasa Consumer Limited	442.05	164.78	59.43%
IN:MARICO	Marico Limited	800.75	82.68	11.51%
IN:PGHH	Procter & Gamble Hygiene & Health Care Ltd.	6855.45	-6237.03	-47.64%

Cupid Limited Corporate Events

Cupid promoter boosts stake with open-market share purchase

Sep 15, 2026

Cupid Limited has notified the stock exchanges that it has received a regulatory disclosure from promoter, chairman and managing director Aditya Kumar Halwasiya under SEBI’s Substantial Acquisition of Shares and Takeovers Regulations, 2011. The...

Cupid Plans South African Manufacturing Venture to Anchor African Expansion

Aug 28, 2026

Cupid Limited’s board has granted in-principle approval for a new manufacturing venture in South Africa, to be set up with a local partner that will hold majority control in line with the country’s localisation and transformation rules. T...

Cupid Limited Dispatches AGM Web-Link Letters, Pushes Digitized Shareholder Communication

Aug 28, 2026

Cupid Limited has informed shareholders and the stock exchanges that it has dispatched letters containing a web link to the company’s 33rd Annual General Meeting notice and the annual report, including the Business Responsibility and Sustainabi...

Cupid Limited files sustainability report for FY 2025-26

Aug 25, 2026

Cupid Limited has released its Business Responsibility and Sustainability Report for the 2025-26 financial year, aligning with Regulation 34 of India’s listing obligations and disclosure framework. The standalone report, which forms part of the...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 18, 2026

Cupid Limited AI Stock Analysis