Cupid Ltd. share price target

FY17 was, historically, the best year for Cupid with a revenue/earnings growth of ~35.6%/29% as compared to FY16. The Company's revenue stood at ~Rs.828 mn vs. 611 mn in FY16, due to a robust order book with ~52% of the revenue contribution from female condom. During the year, Cupid also witnessed 5% revenue contribution from its new lubricant jelly. Further, the Company continued to maintain a high EBITDA margin which stood at 39% due to increasing contribution high margin female condom and lubricant jelly. However, this is a ~242 bps...

Increasing Product basket: Cupid Ltd. launched a new version of the female condom known as Cupid 3 in order to further widen its product basket. A typical Cupid female condom has a donut shaped soft polyurethane foam at the closed end, whereas, the new Cupid 3 has a plate instead of the polyurethane foam. This would ensure ease of carrying and wearing a female condom. The previous version, Cupid 2, is currently under review by the...