4:1 Bonus Share: Pharma Stock in Focus After Board Sets...

Synopsis: Cupid Limited set March 9, 2026, as the record date for a 4:1 bonus share issue, allotting four new equity shares for every existing share held.

This Small-cap Pharma Stock, engaged in manufacturing and marketing condoms, feminine hygiene products, and sexual wellness items across India, is in focus after the company’s board set a record date for a 4:1 bonus issue.

With a market capitalization of Rs. 10,133.36 crore, the shares of Cupid Limited were currently trading at Rs. 376.80 per equity share, down nearly 1.81 percent from its previous day’s close price of Rs. 383.75.

News

Cupid Limited’s Board of Directors has fixed Monday, March 09, 2026, as the Record Date for determining the eligibility of shareholders for the allotment of Bonus Equity Shares. The allotment will be on Tuesday, March 10, 2026, for the purpose of Bonus Shares of the Company.

The board has decided to issue bonus shares at a ratio of 4:1, meaning that shareholders will receive four new fully paid-up equity shares of Re. 1 each for every one existing fully paid-up equity share they hold.

For example, if a shareholder owns 1,000 shares of Cupid Limited, they will receive 4,000 bonus shares, bringing their total holding to 5,000 shares after the 4:1 bonus issue.

Management Guidance

Cupid Limited expects FY26 to be the strongest year in its history. The company is confident of exceeding its FY26 revenue guidance of Rs. 335 crore and expects net profit to cross Rs. 100 crore. Growth is likely to improve further in the second half of FY26, supported by a strong order book and better execution.

Domestic Presence

Cupid Limited is rapidly expanding its FMCG retail presence across India. Its products are now available in more than 1.5 lakh retail outlets nationwide through multiple high-frequency trade channels. The company has a strong presence in chemist stores (75,043 outlets), cosmetics stores (47,543 outlets), grocery stores (12,584 outlets), pan-plus outlets (12,346 outlets), and open-format stores (2,983 outlets).

Store Expansion

Cupid Limited is also strengthening its modern trade and online presence. Its products are listed in 2,934 modern retail stores, with over 4,000 stores expected by FY27. In addition, Cupid serves around 18,000 e-commerce orders through platforms such as JioMart, BigBasket, Flipkart, Amazon, Meesho, and Tata 1mg, helping the brand reach more customers across India.

Manufacturing Facilities

Cupid Limited is expanding its domestic manufacturing capacity with a new facility at Palava, Maharashtra (MIDC), covering a total built-up area of about 170,000 sq. ft. This expansion will add an annual capacity of around 770 million male condoms and 75 million female condoms.

After completion, the company’s total production capacity is expected to reach nearly 1.25 billion male condoms and 125 million female condoms annually, strengthening its manufacturing scale and future growth prospects.

Cupid Limited was established in 1993 and designs, manufactures, and markets male and female condoms along with water-based lubricant jelly to promote sexual wellness and help prevent STIs and unplanned pregnancies.

The company supplies its products globally to governments, NGOs such as the WHO and UNFPA, and healthcare providers. Using advanced manufacturing facilities, it focuses on quality and innovation in latex-based products. In addition, Cupid Limited produces in vitro diagnostic (IVD) test kits for pregnancy, HIV, dengue, malaria, COVID-19, and other infectious diseases.

Recent Quarter Results

Coming into financial highlights, Cupid Limited’s revenue has increased from Rs. 51 crore in Q3 FY25 to Rs. 104 crore in Q3 FY26, which has grown by 103.92 percent. The net profit has also grown by 200 percent from Rs. 11 crore in Q3 FY25 to Rs. 33 crore in Q3 FY26.

Cupid Limited’s revenue and net profit have grown at a CAGR of 11.79 percent and 34.11 percent, respectively, over the last three years. In terms of return ratios, the company’s ROCE and ROE stand at 17.1 percent and 12.9 percent, respectively. Cupid Limited has an earnings per share (EPS) of Rs. 3.11, and its debt-to-equity ratio is 0.07x.

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