Shares of the condom maker rose to Rs 222 apiece on Friday. The stock has gained around 110% so far in 2026 and has surged about 900% over the past year. Over the longer term, Cupid shares have delivered returns of more than 8,600% in three years and around 8,800% in five years.
The company manufactures and supplies male and female condoms, water-based lubricant jelly and IVD kits. It operates a manufacturing facility in Sinnar near Nashik, about 200 km from Mumbai. It says it is the first company in the world to receive prequalification from the World Health Organisation and United Nations Population Fund for the supply of both male and female condoms.
Cupid Q1 business update
Cupid, at the end of June, said it is on track to report revenue exceeding Rs 150 crore in the first quarter of FY27, which it described as one of the strongest quarterly performances in its history. Aided by the strong start to the financial year and improved visibility across international and domestic markets, the company has also raised its FY27 revenue guidance.
The company now expects FY27 revenue to stand at more than Rs 660 crore, up from its earlier guidance of Rs 600 crore, implying an upward revision of at least 10%. Cupid said the revised outlook is backed by its diversified business model, an expanding global opportunity pipeline and increasing operating scale across multiple business verticals.
Cupid also continues to make steady progress in its In Vitro Diagnostics (IVD) business. While management’s near-term growth estimates for this segment remain conservative, it believes the business has the potential to become a meaningful contributor over the coming years, supported by regulatory approvals, new product launches, and continued commercialisation efforts, the company said.
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What Cupid’s management said
“Our strong start to FY27 reflects the transformation Cupid has undergone over the past few years. We have built a diversified business with multiple growth engines that are now beginning to scale together. We are seeing strong momentum across our international B2B business, supported by expanding opportunities in private markets, institutional procurement, and government tenders across the world. Our strategic relationship with PFSCM has commenced on a very encouraging note and further strengthens our long-term position in global healthcare procurement,” said Cupid Chairman and Managing Director Aditya Kumar Halwasiya.He added that in the past twelve months, Cupid has significantly strengthened its male condom and female condom businesses through enhanced manufacturing capabilities, customer acquisition, and wider market reach. “At the same time, our lubricants portfolio continues to gain traction across both institutional and consumer segments. On the consumer side, we remain focused on building Cupid into a trusted mainstream personal care and wellness brand. We see significant long-term opportunities across modern trade, organised retail, and pharmacy channels as we continue to expand our presence across Bharat,” he further said.
What lies ahead for Cupid’s shares?
The stock remains in a robust Higher High–Higher Low (HH-HL) formation, indicating that the broader uptrend is intact, said Hitesh Tailor, Technical Research Analyst at Choice Broking. On the downside, he added that the Rs 177–185 zone is expected to act as an immediate support area, aligning closely with the 20-Day EMA and the recent breakout region. A stronger support is placed near Rs 155–160, coinciding with the 50-Day EMA. As long as the stock sustains above these crucial support levels, the overall trend is likely to remain positive, with the potential to retest Rs 225–230 in the near term. However, a decisive breach below the Rs 177–185 support zone could trigger further profit booking and lead to a short-term retracement towards the Rs 155–160 support region.
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