Key Financial Highlights (Consolidated)
Quarter Ended 30th June, 2026 (Q1 FY27) vs. Corresponding Periods:
- Operating Income: ₹154.72 crore (up 159% YoY from ₹59.80 crore in Q1 FY26)
- Total Income: ₹156.98 crore (up 142% YoY from ₹64.75 crore in Q1 FY26)
- EBITDA: ₹60.06 crore (up 265% YoY from ₹16.47 crore in Q1 FY26)
- EBITDA Margin: 39% (improved from 28% in Q1 FY26)
- PBT: ₹59.92 crore (up 207% YoY from ₹19.55 crore in Q1 FY26)
- Net Profit: ₹44.15 crore (up 194% YoY from ₹15.01 crore in Q1 FY26)
Business Performance and Operational Highlights
International B2B Healthcare Business:
- Continued robust demand across PFSCM, WHO/UNFPA, institutional procurement programmes, government tenders, and private export markets
- Provides strong order visibility and healthy revenue pipeline
- Company implemented minimum 10% price increase across export portfolio
- Favorable USD/INR environment supporting export realizations
- Prudent hedging of currency exposure relating to international investments mitigates foreign exchange risk
Consumer Healthcare & FMCG Business:
- FY26 contribution: ₹121.61 crore total revenue
- Includes domestic sales of male and female condoms, IVD kits, personal lubricants, and newly launched FMCG products
- Newly launched FMCG portfolio contributed ₹84.26 crore in FY26
- Expanding presence across modern trade, organized retail, and pharmacy channels
Manufacturing Expansion:
- Palava, Maharashtra facility (~170,000 sq. ft.) on schedule for commissioning during Q2 FY27
- Enhanced production capabilities: annual capacity of approximately 1.25 billion male condoms and 125 million female condoms
- Incremental capacity: approximately 770 million male condoms and 75 million female condoms
- Features dual-polymer dipping technology, Natural Rubber Latex and Nitrile capabilities, dedicated production lines, and interchangeable manufacturing lines
Strategic Investments
- Investments in Baazar Style Retail and GII Healthcare
- Expected to be value accretive over FY27 and beyond
- Complement Cupid's Consumer Healthcare & FMCG and global healthcare businesses
- Strengthen healthcare ecosystem, consumer platform, and future growth opportunities
Guidance and Outlook
FY27 Guidance Revision:
- Original Guidance: Revenue ₹600 crore, Net Profit ₹180 crore
- Previous Update: Revenue ₹660+ crore, Net Profit ₹180+ crore
- Latest Revised Guidance (as of 7th August 2026): Revenue ₹725-750 crore, Net Profit ₹210-225 crore
Basis for Guidance Upgrade:
- Strong order book
- Sustained momentum across international B2B healthcare business
- Continued expansion of Consumer Healthcare & FMCG portfolio
- Manufacturing expansion at Palava facility
- Healthy order visibility and operating leverage
- Expectations of robust performance during second half of FY27
Management Commentary
Mr. Aditya Kumar Halwasiya, Chairman and Managing Director, commented on the strong Q1 performance and upgraded guidance, highlighting:
- Strong momentum across both international B2B healthcare and Consumer Healthcare & FMCG businesses
- Healthy execution during the quarter and improving order visibility
- Consumer Healthcare & FMCG business gaining meaningful traction as important growth pillar
- Diversified global customer base through PFSCM, WHO/UNFPA, institutional programmes, government tenders, and private export markets
- Focus on disciplined execution, maintaining healthy margins, and building future-ready organization
- Continued investments in manufacturing, product innovation, and both business segments
Company Background
- Established in 1993
- Exports to 125+ countries
- First company in the world to receive WHO/UNFPA prequalification for both male and female condoms
- Listed on BSE (530843) and NSE (CUPID)