Cupid hits all-time high as board nods setting up FMCG unit in Saudi Arabia

Cupid's stock was in demand after the company's board approved setting up FMCG facility in Saudi Arabia

Cupid shares rose 3.7 per cent on BSE, registering an all-time high at ₹504.85 per share. The stock was in demand after the company’s board approved setting up a fast-moving consumer goods (FMCG) facility in Saudi Arabia (KSA).

 

At 12:16 PM, Cupid’s share price was trading 2.77 per cent higher at ₹500 per share on BSE. In comparison, the BSE Sensex was down 0.21 per cent at 84,514.9.

 

The company has a total market capitalisation of ₹13,521.35 crore. Its 52-week high was at ₹504.85, and its 52-week low was at ₹50. 

 

The Saudi Arabia unit will be the company’s first manufacturing plant outside India. The proposed facility is aimed at supporting Cupid’s FMCG growth strategy and strengthening its presence in overseas markets, beginning with the Gulf Cooperation Council (GCC) region. The plant is expected to enhance regional supply capabilities, improve speed to market, and ensure better product availability across KSA and other GCC countries, according to the filing. 

 

 

The project is proposed to be funded through the company’s internal accruals and will be taken forward after completing detailed evaluations and obtaining necessary regulatory and statutory approvals.

 

By establishing a manufacturing base closer to key international markets, Cupid aims to deepen its FMCG footprint globally and improve service efficiency across the region.

 

Established in 1993, Cupid, India's premier manufacturer and brand of male and female contraceptives, water-based personal lubricants, IVD kits, deodorants, perfumes, almond hair oil, body oils, petroleum jelly and other FMCG products. The company operates with a strong commitment to public health and well-being, maintaining ethical business practices aligned with international standards.

 

In alignment with its strategic growth plans, the company has recently expanded its product offerings to include FMCG such as fragrance products (Eau De Perfumes, Deodorants, Pocket Perfumes), personal care items (Toilet Sanitizers, Hair & Body Oils, Hair Removal Sprays, Face Wash), and other wellness solutions.

 

In March 2024, the company completed a strategic land acquisition in Palava, Maharashtra, enabling it to amplify its production capacity by 1.5 times the existing output.