Cupid Ltd has delivered one of the most eye-catching stock market performances of 2025, leaving investors both impressed and cautious.
The stock, which was trading at ₹76.11 on December 31, 2024, closed 2025 at ₹518.10, marking a staggering 581% gain in just one year. Even more striking, Cupid has risen nearly 936% from its 52-week low of ₹50 recorded in April 2025, making it one of the strongest small-cap performers of the year.
Such explosive growth naturally raises an important question: Is Cupid Ltd still a buy at its all-time high, or has the rally already run too far ahead?
About Cupid Ltd
Cupid Ltd is a well-known manufacturer of male and female condoms, water-based lubricant jelly, and IVD kits. The company operates a large manufacturing facility in Sinnar near Nashik, Maharashtra, with annual capacity exceeding:
- 480 million male condoms
- 52 million female condoms
- 210 million lubricant sachets
Cupid also has a strong presence in institutional and export markets, supplying products across multiple geographies.
What Drove Cupid’s 581% Rally?
- Strong Growth in Sales and Profits
Cupid has reported consistent improvement in both revenues and profitability over the past four quarters. Rising demand and operational efficiency have helped boost margins, which investors have rewarded with higher valuations.
Quarter after quarter, both net sales and net profit have shown steady upward momentum, strengthening confidence in the company’s growth story.
- Sharp Reduction in Promoter Pledge
One major positive development was the reduction in pledged promoter shares.
Promoter pledging fell from 36.13% in September 2025 to 20% by December 2025, easing concerns around financial risk and improving investor sentiment.
- Capacity Expansion in Maharashtra
Cupid has acquired land at Palava MIDC, Maharashtra, where it plans to build a 170,000 sq. ft. state-of-the-art manufacturing facility.
Once operational by FY26-end, the new plant is expected to increase production capacity by nearly 1.5 times, potentially driving significant revenue growth over the next few years.
- Entry Into Global Manufacturing
The company’s board has approved plans to set up its first overseas manufacturing facility in Saudi Arabia. This move is aimed at strengthening Cupid’s FMCG presence in the GCC region, opening up a new international growth avenue.
- Tailwinds From a Growing Market
Cupid operates in the sexual wellness and personal care segments, which are benefiting from:
- Rising awareness
- Favorable demographics
- Policy support in several regions
These long-term trends have made the company more attractive to growth-focused investors.
Should You Buy Cupid After Such a Big Rally?
While Cupid’s fundamentals appear strong, the valuation risk is now significantly higher after a 581% run-up.
At these levels:
- Any earnings disappointment could trigger sharp corrections
- Expectations are already priced in aggressively
- Volatility is likely to increase
For existing investors, the focus should be on tracking execution, margins, and expansion timelines. New investors may want to wait for better entry points or confirmation of sustained growth before committing fresh capital.
Bottom LineCupid Ltd’s rally has been driven by real business improvements, not just speculation. However, buying at record highs requires caution. Investors should rely on independent research, valuation analysis, and risk assessment before making decisions.
