1:1 bonus share & 10:1 stock split: This personal care company executes order worth Rs 23.07 crore in Brazil

The shares of the company gave multibagger returns of over 1,000 per cent from its 52-week low of Rs 235.30 per share.

In a positive development for the first quarter of fiscal year 2025 (Q1FY25), Cupid Limited signed a significant commercial agreement to supply 5.9 million female condoms (FC) to Brazil. The total value of the contract is USD 2.77 million, which is roughly equivalent to Rs 23.07 crore. Production of the first tranche of 2.1 million FCs will commence soon, with the entire order expected to be fulfilled by the second quarter of FY25 (Q2FY25). This marks a lucrative start for Cupid Limited in Q1FY25.

A leading manufacturer of condoms, lubricant jelly, IVD kits and deodorants since 1993, CUPID Limited boasts a significant production capacity and international presence. They are the first company globally to be pre-qualified by WHO/UNFPA for both male and female condoms, exporting to over 105 countries with a long-term agreement with WHO/UNFPA. Their recent land acquisition will further increase condom production by 1.5 times.

According to its Quarterly Results (Q4FY24), the net sales increased by 51.6 per cent to Rs 62.90 crore and net profit increased by 184.5 per cent to Rs 23.72 crore in Q4FY24 compared to Q4FY23. In its annual results (FY24), the net sales increased by 7.4 per cent to Rs 171.09 crore and net profit increased by 26.2 per cent to Rs 39.86 crore in FY24 compared to FY23.

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On Wednesday, shares of Cupid Limited plunged 0.22 per cent to Rs 133.70 per share from its previous closing of Rs 134 with an intraday high of Rs 139.40 and an intraday low of Rs 130. The stock’s 52-week high is Rs 141.65 and its 52-week low is Rs 12.01. The shares of the company saw a spurt in volume by more than 2 times on BSE.

The shares of the company ex-traded bonus shares in the ratio 1:1 i.e., 1 bonus equity share of the face value of Rs 1 each fully paid up for every 1 existing equity share of the face value of Rs 1 each fully paid up. And face value of Rs 10 to Rs 1 stock split i.e., sub-division of 1 equity share of the face value of Rs 10 each fully paid-up into 10 equity shares of the face value of Rs 1 each fully paid-up. The ex-record date for bonus shares and stock split was April 04, 2024.  

The stock has an ROE of 21 per cent and an ROCE of 27 per cent. The shares of the company gave multibagger returns of over 1,000 per cent from its 52-week low of Rs 235.30 per share. Investors should keep an eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.