Indian condom maker Cupid Limited has kicked off 2026 on a high, reporting its strongest quarterly performance yet, buoyed by robust demand, smooth operations, and progress on capacity expansion.

 

The company expects Q3 FY26 to be its top-performing quarter, driven by sustained demand and operational efficiency. Order book is at an all-time high and the management expects to exceed its earlier guidance of ₹335 crore in revenue and ₹100 crore in PAT.

 

Moreover, construction at the Palava, Maharashtra facility is progressing as planned, aligning with the company’s broader growth roadmap. FMCG business is also gaining traction with Cupid’s portfolio of personal care and wellness products, including Petroleum Jelly, Face Wash, and Talcum Powder, seeing growing acceptance across India.

 

Cupid is strengthening its footprint in the GCC region, focusing on supply responsiveness and market proximity. Following the Board’s in-principle approval on 29 December 2025, a proposed FMCG manufacturing facility in Saudi Arabia aims to serve regional demand and improve supply timelines across the GCC and nearby export markets. The project is slated for completion by March 2027, subject to regulatory approvals.

 

“We begin 2026 with encouraging momentum, strong order visibility, and steady progress across our expansion initiatives. The in-principle approval for the proposed Saudi FMCG facility reflects our intent to gradually build a broader and more diversified growth platform, while remaining focused on prudent capital allocation. We remain confident of surpassing our FY26 guidance,” said Aditya Kumar Halwasiya, Chairman and Managing Director.

 

India’s FMCG market is estimated at US$287.9 billion, while Saudi Arabia’s consumer packaged goods market is around US$70 billion. Despite its smaller population (~34.9 million versus India’s ~1.47 billion), Saudi Arabia offers higher per-capita consumption and premiumisation opportunities. Cupid is pursuing this market cautiously, with disciplined capital allocation.