Personal Products company Cupid announced Q4FY26 & FY26 results Consolidated Financial Highlights: Revenue from Operations: Stood at Rs 11,996.17 lakh in Q4FY26, registering a massive growth of 112.39% YoY compared to Rs 5,648.18 lakh in Q4FY25, and a growth of 28.31% QoQ from Rs 9,349.54 lakh in Q3FY26. For the full year FY26, revenue was Rs 35,770.88 lakh, up 94.91% YoY from Rs 18,352.13 lakh in FY25. Total Income: Reached Rs 13,204.36 lakh in Q4FY26, up 116.07% YoY from Rs 6,111.17 lakh in Q4FY25, and up 26.50% QoQ from Rs 10,438.17 lakh in Q3FY26. For FY26, total income stood at Rs 39,140.14 lakh, an increase of 92.63% YoY compared to Rs 20,318.28 lakh in FY25. Net Profit After Tax: Surged by 215.03% YoY to Rs 3,626.25 lakh in Q4FY26 against Rs 1,151.08 lakh in Q4FY25, and increased 10.44% QoQ from Rs 3,283.39 lakh in Q3FY26. For the full year FY26, net profit grew by 164.71% YoY to Rs 10,823.33 lakh compared to Rs 4,088.71 lakh in FY25. Total Comprehensive Income: Reported at Rs 3,637.03 lakh in Q4FY26, up from Rs 1,033.05 lakh in Q4FY25. For FY26, it stood at Rs 10,812.33 lakh, a significant increase from Rs 3,946.17 lakh in FY25. Standalone Financial Highlights: Revenue from Operations: Recorded at Rs 11,996.17 lakh in Q4FY26, jumping 112.39% YoY from Rs 5,648.18 lakh in Q4FY25, and rising 28.28% QoQ from Rs 9,351.23 lakh in Q3FY26. For FY26, revenue stood at Rs 35,770.88 lakh, up 94.91% YoY from Rs 18,352.13 lakh in FY25. Total Income: Reached Rs 13,204.36 lakh in Q4FY26, marking a 116.07% YoY growth from Rs 6,111.17 lakh in Q4FY25, and a 26.48% QoQ growth from Rs 10,439.86 lakh in Q3FY26. For FY26, total income grew by 92.63% YoY to Rs 39,140.14 lakh compared to Rs 20,318.29 lakh in FY25. Net Profit After Tax: Increased by 213.86% YoY to Rs 3,626.27 lakh in Q4FY26 compared to Rs 1,155.37 lakh in Q4FY25, and rose 10.33% QoQ from Rs 3,286.86 lakh in Q3FY26. For FY26, net profit stood at Rs 10,826.44 lakh, up 164.51% YoY from Rs 4,093.02 lakh in FY25. Total Comprehensive Income: Stood at Rs 3,637.04 lakh for Q4FY26, up from Rs 1,037.34 lakh in Q4FY25. For the full year FY26, it reached Rs 10,815.43 lakh, up from Rs 3,950.47 lakh in FY25. Business Highlights: Segment Performance: The company evaluates its performance as a single unit engaged in the manufacturing and trading of Personal Care Products. Accordingly, the company has only one reportable segment, which is 'Personal care'. Strategic Investment (Baazar Style Retail Limited): The Board approved the conversion of 15,00,000 warrants into equity shares (out of 1,01,00,000 warrants allotted by Baazar Style Retail Limited) by making a payment of approximately Rs 36.93 crore. This strategic investment is aimed at strengthening Cupid's retail presence and expanding consumer reach through Style Baazar's established network of over 250 stores, which is expected to expand to over 500 locations within the next 3 years. Share Capital & Bonus Issue: During the quarter, the authorised share capital was increased from Rs 50 crore to Rs 150 crore. The company allotted 1,07,57,28,560 bonus equity shares of Rs 1/- each on 10th March 2026, in the ratio of 4:1 (four new fully paid-up equity shares for every one existing share). Forfeiture of Warrants: 4.40 crore convertible warrants were not exercised within the stipulated 18-month timeframe (by September 13, 2025). Consequently, the upfront amount of Rs 96.30 crore received by the company stands forfeited, ensuring no equity dilution arises from these warrants. Management Changes: Mr. Saurabh Karmase resigned as Company Secretary and Compliance Officer effective 15th May 2026. The Board appointed Mr. Hardik Chandra as the new Company Secretary, Compliance Officer, and Nodal Officer effective 16th May 2026. Auditor Appointment: The company appointed R. Thakkar & Associates as Internal Auditors for a period of 3 financial years commencing from FY26-27. Commenting on the performance, Aditya Kumar Halwasiya, Chairman and Managing Director, said, “We have delivered a historic performance in FY26, surpassing our annual guidance and reporting revenue of Rs 358 crore and net profit of Rs 108 crore. This performance reflects strong execution, improving operating leverage and sustained demand across our businesses, resulting in our strongest ever quarterly and full year performance. During the quarter, we commenced the development Program for nitrile female condoms, entering a premium segment which has historically been supplied by a single global manufacturer. Backed by our dual polymer manufacturing capability, we are uniquely positioned as the only manufacturer in India with the ability to produce both latex and nitrile condoms, with planned capacity of ~1.25 billion male condoms and ~125 million female condoms annually. We have also strengthened our global positioning through our ‘Made in India with Japanese Quality’ initiative, supported by our collaboration with one of Asia’s oldest condom manufacturers, reinforcing our focus on quality and technological excellence. In diagnostics, we further strengthened our regulatory portfolio during FY26 with the receipt of CE EU IVDR certification for our HIV and Hepatitis B test kits, along with CE certification for our Syphilis and Pregnancy test kits. These approvals collectively enhance our access to regulated markets such as Europe while strengthening our participation in global public health programs. On the domestic front, our strategic investment of Rs 331.53 crore in Baazar Style Retail significantly strengthens our FMCG distribution. We have already deployed Rs 82.88 crore, providing access to a retail network of over 260 stores, which is expected to scale beyond 500 stores over the next 2 to 3 years. This ecosystem is expected to generate ~Rs 150 crore incremental revenue in FY27 and scale up to ~Rs 500 crore annually over the medium term, while significantly improving our brand visibility and last-mile reach. Looking ahead, with strong export momentum, a favorable currency environment and a well-secured raw material position, we are confident of sustaining this growth trajectory and achieving our FY27 revenue target of Rs 600 crore with net margins above 30%, as we continue to build a scalable and globally competitive business.” Result PDF