Cupid gains after robust Q3 earnings

Cupid rose 1.7% to Rs 254.25 after net profit jumped 400.5% to Rs 10.21 crore on 326.6% surge in net sales to Rs 42.96 crore in Q3 December 2019 over Q3 December 2018.

Profit before tax (PBT) surged 398.86% to Rs 13.12 crore in Q3 December 2019 compared with Rs 2.63 crore in Q3 December 2018.

EBITDA surged 340.2% to Rs 13.94 crore in Q3 December 2019 over Q3 December 2018. EBITDA margin stood at 32.5% for Q3 December 2019 as against 31.5% in Q3 December 2018.

Based on the healthy order book, the company expects a strong performance in the Q4 as similar to Q3. The growth of business will be positively impacted due to increase in demand of condoms worldwide for the prevention of STIs including HIV and for prevention of unintended pregnancies.

Commenting on company's Q3 performance, Omprakash Garg, CMD said We are pleased to report strong performance in the third quarter on the back of robust demand for Male and Female condoms. Demand outlook for Male and Female condoms continues to be strong and as such we are confident of achieving healthy performance in the coming quarters. As of 1st Jan 2020, the total order book stands at Rs 160 Cr which includes Rs 88 Cr worth of confirmed orders and Rs 72 Cr orders in pipeline. Our objective is to dispatch maximum possible orders by 31 March 2020.

Cupid is engaged in the business of business of dealing, marketing and manufacture of rubber contraceptives and allied prophylactic products. The company offers rubber prophylactics. The company manufactures male and female condoms. It also offers water based lubricant jellies.

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