Stock of this personal care products company has zoomed 103% in 1 month

Shares of Cupid were locked in the 10-per cent upper circuit at Rs 818 on the BSE on Friday at 02:12 PM

Shares of Cupid were locked in the 10 per cent upper circuit at Rs 818, also its new high, on the BSE on Friday at 02:12 PM, extending its rally on the bourses triggered post a rejig in the company's management.

In the past month, the stock price of the personal care products company has more-than-doubled, zooming 103 per cent, as compared to 2 per cent decline in the S&P BSE Sensex.

Columbia Petro Chem Private Limited, along with Aditya Kumar Halwasiya from the Universal Halwasiya Group and Family, has successfully acquired a significant 41.84 per cent stake in Cupid in a transaction valued at Rs 159.06 crore.

This transfer of ownership marks the departure of the outgoing promoters -- Omprakash Garg and Veena Garg.

The company's new management said the acquisition of Cupid aligns seamlessly with the Universal-Halwasiya group's strategic vision, focusing on the ever-evolving health sector, especially in the context of sexual health, wellness, and family planning both domestically and globally.

Cupid is the market leading player in the realm of female condoms and is on a promising growth trajectory in male condoms, personal lubricant jelly, and IVD Test Kits segments.

The decision to acquire Cupid was further bolstered by several factors, including the tremendous organic growth potential within these segments, the high gross margin associated with Cupid's products, and the robust export order pipeline that Cupid currently enjoys, the management said.

In the coming months management expects to improve order pipeline and profitability in Cupid’s core Tendering and Third Party Manufacturing Business. A concerted entry into the FMCG-Direct to Consumer segments under the 'Cupid' brand name is also envisaged going forward, the management said on business outlook.

As on October 1, 2023, Cupid’s order book stood at Rs 77 crore.