Total Income was at ₹ 4402.60 lakhs, up by 25.1%
EBITDA was at ₹ 665.91 lakhs, up by 265.6%
PAT was at ₹ 825.51 lakhs, up by 282.6%
Mumbai, August 06, 2024: Cupid Limited, India’s premier manufacturer of male and female condoms, water based lubricant jelly, IVD kits and Deodorants, has declared its financial results for the quarter ended June 30, 2024.
(₹ in lakhs)
| Particulars | Q1FY25 | Q1FY24 | YoY change |
| Total Income | 4402.60 | 3519.77 | 25.1% |
| EBITDA | 665.91 | 182.12 | 265.6% |
| EBITDA Margin | 17.02% | 5.41% | 1161 bps |
| PBT | 1056.37 | 222.57 | 374.6% |
| PAT | 825.51 | 215.79 | 282.6% |
| PAT Margin | 21.09% | 6.41% | 1469 bps |
Q1 FY25 – Financial Highlights:
- Total Income was at ₹ 4402.60 lakhs, as compared to ₹ 3519.77 lakhs in Q1 FY24, up by 25.1%.
- EBITDA was at ₹ 665.91 lakhs, as compared to ₹ 182.12 lakhs, registered a growth of 265.6%
- EBIDTA margin was at 17.02%, as compared to 5.41%, registered a growth of 1161 basis points
- Profit Before Tax was at ₹ 1056.37 lakhs, as compared to ₹ 222.57 lakhs in Q1 FY24, clocking a growth of 374.6%
- Net Profit was at ₹ 825.51 lakhs, as compared to ₹ 215.79 lakhs in Q1 FY24, clocking a growth of 282.6%
- Net profit margin was at 21.09%, as compared to 6.41%, registered a growth of 1469 basis points
Operational Highlights:
- The board has approved the incorporation of a wholly owned subsidiary in UAE to capture market share in the GCC region
- The design of the green field plant at Palava is ready, the plant should be operational by the end of calendar year 2025
- IVD business has become PAT positive
- Pocket Perfumes and Deodorants launched for B2C business with Perfume Products, Hair Oils, Massage Oils and Creams under development
- Notable hiring in the B2B Export Team
- Company has successfully started implementation of the SAP S4HANA ERP System
- Company has made notable progress in CE Mark and WHO Prequalification Certification processes for its 5 best-selling IVD tests
- US FDA Approval process has been renewed and is underway for the Cupid Version 3 Female Condom
Commenting on the results, Mr Aditya Kumar Halwasiya, Managing Director said,
“We are delighted to announce a good set of numbers for the quarter. We have continued to bring in efficiencies in overall production and domestic distribution.
The Company’s foray into B2C in India in the last seven months has resulted in net revenues of ₹ 12.50 crore and we are going to expand this pie substantially moving forward. The improved margins are very well maintainable in the long run. Once the additional capacities are up and running with matching orders from across the World, we would further get the benefit of scale of operations.
As a part of our Indian B2C expansion, we have built our presence across over 50,000 retail touch points in a short span of time and are on the horizon to reach 1,00,000 touch points by the end of the current calendar year.
We are prioritising our brand expansion by initially focusing on general trade and then modern trade in the domestic market. Internationally we would continue to seek opportunities to expand our brand presence through partnerships with distributors that have a strong presence in their respective markets.”
