Cupid Ltd's shares jumped about 1% on Dec 30, reaching Rs 490.95, after the board gave an in‑principle go‑ahead for a new FMCG manufacturing plant in Saudi Arabia.
Share price reaction
At 09:17 am, the stock was trading at Rs 490.95, up Rs 4.45 or 0.91%. The price is near its 52‑week high of Rs 498.30.
Board approval for a Saudi plant
The board met on Dec 29 and approved, in principle, setting up a new FMCG manufacturing facility in the Kingdom of Saudi Arabia (KSA). The project will be funded from the company's internal accruals and will move ahead once standard regulatory clearances are obtained.
What the new plant means
- Strengthens Cupid’s supply chain in the Gulf region.
- Improves speed‑to‑market and product availability across the GCC.
- Supports the company’s broader FMCG expansion strategy.
Company snapshot
- Manufactures male and female condoms, water‑based lubricants and IVD kits.
- Current annual capacity: over 480 million male condoms, 52 million female condoms, and 210 million lubricant sachets.
- Q2 FY26 net profit rose 140% to Rs 24.12 crore year‑on‑year.
- Market‑cap stands around Rs 13,055 crore.
Remember, this is perspective, not a prediction. Do your own research before making any investment decisions.