Mumbai : Cupid Limited (Cupid, The Company), announced that it delivered the strongest quarter in its history during Q3 FY26 (quarter ended 31 December 2025), driven by strong execution, healthy demand, and sustained momentum across its businesses.

The Company continues to witness strong operating traction, with both Q3 and Q4 FY26 tracking at a higher run-rate, positioning them to be record quarters, Supported by a record order book, improved execution visibility, and steady demand across segments. This Business momentum is expected to continue into FY27 and beyond.

Key Consolidated Financial Highlights

Consolidated Key Financial Highlights Q3 FY26

  • Total Income of ₹ 104.38 Cr, YoY growth of 106%
  • Operating Income of ₹ 93.50 Cr, YoY growth of 102%
  • EBITDA of ₹ 34.30 Cr, YoY growth of 201%
  • EBITDA Margin of 37%, YoY growth of 1212 Bps
  • PBT of ₹ 43.27 Cr, YoY growth of 207%
  • Net Profit of ₹ 32.83 Cr, YoY growth of 196%
  • Net profit Margine of 35%, YoY growth of 1121 Bps

Consolidated Key Financial Highlights Q3 FY26 (Q-O-Q)

  • Total Income of ₹ 104.38 Cr, QoQ growth of 16%
  • Operating Income of ₹ 93.50 Cr, QoQ growth of 11%
  • EBITDA of ₹ 34.30 Cr, QoQ growth of 21%
  • EBITDA Margin of 37%, QoQ growth of 304 Bps
  • PBT of ₹ 43.27 Cr, QoQ growth of 34%
  • Net Profit of ₹ 32.83 Cr, QoQ growth of 36%
  • Net profit Margine of 35%, QoQ growth of 654 Bps

Consolidated Key Financial Highlights 9M FY26

  • Total Income of ₹ 259.36 Cr, YoY growth of 83%
  • Operating Income of ₹ 237.75 Cr, YoY growth of 87%
  • EBITDA of ₹ 79.19 Cr, YoY growth of 180%
  • EBITDA Margin of 33%, YoY growth of 1101 Bps
  • PBT of ₹ 95.01 Cr, YoY growth of 144%
  • Net Profit of ₹ 71.97 Cr, YoY growth of 145%
  • Net profit Margin of 30%, YoY growth of 715 Bps

Note: Percentage figures have been rounded off to the nearest whole number

The company also have announced that its Board of Directors has approved a proposal for the issuance of bonus equity shares in the ratio of 4:1, subject to the receipt of requisite shareholder and regulatory approvals, as applicable.

Under the proposed bonus issue, eligible shareholders will receive four (4) fully paid-up equity shares for every one (1) equity share held by them as on the record date, which will be announced in due course.

The Board’s decision to recommend the bonus issue follows a comprehensive evaluation of Cupid’s capital structure, growth trajectory, and shareholder base composition. The move is designed to achieve multiple strategic objectives aligned with the Company’s capital allocation framework.

The bonus issue is expected to improve stock affordability by proportionately reducing the per-share price, thereby making Cupid’s equity more accessible to retail investors. This enhanced accessibility is anticipated to broaden the Company’s investor base and encourage greater retail participation in the Company’s equity.

Additionally, the increased number of shares in circulation is expected to improve trading liquidity, providing existing shareholders with greater flexibility in portfolio management. The measure also demonstrates management’s confidence in the Company’s operational performance and future growth prospects.

The company also have announced that its Board of Directors has approved a proposal for the issuance of bonus equity shares in the ratio of 4:1, subject to the receipt of requisite shareholder and regulatory approvals, as applicable.

Under the proposed bonus issue, eligible shareholders will receive four (4) fully paid-up equity shares for every one (1) equity share held by them as on the record date, which will be announced in due course.

The Board’s decision to recommend the bonus issue follows a comprehensive evaluation of Cupid’s capital structure, growth trajectory, and shareholder base composition. The move is designed to achieve multiple strategic objectives aligned with the Company’s capital allocation framework.

The bonus issue is expected to improve stock affordability by proportionately reducing the per-share price, thereby making Cupid’s equity more accessible to retail investors. This enhanced accessibility is anticipated to broaden the Company’s investor base and encourage greater retail participation in the Company’s equity.

Additionally, the increased number of shares in circulation is expected to improve trading liquidity, providing existing shareholders with greater flexibility in portfolio management. The measure also demonstrates management’s confidence in the Company’s operational performance and future growth prospects.

Commenting on the performance, Mr. Aditya Kumar Halwasiya, Chairman and Managing Director said, “Q3 FY26 has been the strongest quarter in Cupid Limited’s history, driven by disciplined execution and strong momentum across businesses. Our order book is at an all-time high, providing clear revenue visibility and confidence in sustained performance ahead.

We continue to strengthen our overseas presence, including in the GCC region, while capacity expansion at the Palava manufacturing facility is progressing as planned in line with our growth roadmap. The domestic FMCG portfolio is witnessing growing acceptance, supported by product additions and wider retail reach.

To accelerate FMCG growth, we are working on entering into the UAE and Saudi market soon. Together, the India and GCC FMCG expansions position Cupid for sustained global growth with scale, efficiency, and flexibility.

The diagnostics (IVD) business continues to emerge as a key future growth engine, supported by certifications, rising demand, In-house R&D and increasing automation.

Based on strong Q3 performance, a record order book, and improving execution, we expect FY26 to be the strongest year in the company’s history. We are confident of exceeding FY26 revenue guidance of ₹335 Cr, with net profit expected to exceed ₹100 Cr. Our focus remains on building a balanced, scalable, and future-ready business while creating long-term value for our stakeholders.

Also, today’s decision of bonus issue is both a reward and a responsibility. The Board evaluated this bonus issue thoughtfully, keeping long-term value creation at the center. A 4:1 bonus issue supports broader retail participation by improving affordability, while also enhancing flexibility for our existing shareholders. Most importantly, it reflects our confidence in Cupid’s growth journey and our commitment to laying a strong foundation for the next phase of scale.”