Small-cap multibagger Cupid Ltd extends rally; stock surges 47% in June, 800% in a year

Cupid, a small-cap stock, has delivered explosive returns in 2026. The company, which rarely makes headlines and receives limited brokerage coverage, has nevertheless attracted strong investor interest on Dalal Street, emerging as one of the best-performing stocks in the first half of the year.

Extending its bull run for a fourth consecutive month in June, the stock gained another 47%, marking its biggest monthly surge since December 2025. The latest rally pushed its first-half gains to 83%, building on a staggering 584% return in 2025.

Cupid, one of India's leading manufacturers and brands of male and female condoms, has seen its shares soar in recent years despite heightened volatility in the broader market, emerging as one of the biggest wealth creators on Dalal Street.

After remaining under pressure for more than a year, Cupid shares staged a strong comeback in April, gaining 25%. The momentum gathered pace over the following months, with the stock closing higher in 12 of the next 14 months, resulting in a massive 1,416% rally.

During this period, the stock climbed from ₹12.53 to the previous closing price of ₹190. Impressively, it posted double-digit monthly gains in 9 of those 14 months, with December 2025 delivering the largest monthly jump of 57.5%, its strongest monthly performance in 2 years.

Retail shareholders enjoy multibagger gains

The latest rally has lifted the stock 800% over the past year, 7,527% in three years, and 8,612% over the last five years. The phenomenal wealth creation has largely benefited retail investors, who collectively held a 52.8% stake in the company at the end of the March quarter.

More than 2 lakh shareholders with share capital of up to ₹2 lakh held a combined 13.81% stake in the company as of the March quarter, according to Trendlyne data.

Meanwhile, the stock's blockbuster run has propelled the company's market capitalisation to around ₹25,000 crore.

Company raises FY27 revenue guidance

The company expects revenue in H1FY27 to exceed ₹150 crore, marking one of its strongest half-year performances to date.

Backed by this strong start to the financial year and improved visibility across domestic and international markets, the management has raised its FY27 revenue guidance by at least 10% to more than ₹660 crore, as per the exchange filing.

The revised outlook reflects growing confidence in the company's diversified business model, expanding global opportunity pipeline, and increasing operating scale across multiple business verticals.

Commenting on the company's performance, Aditya Kumar Halwasiya, Chairman & Managing Director of Cupid Limited, said, "Our strong start to FY27 reflects the transformation Cupid has undergone over the past few years. We have built a diversified business with multiple growth engines that are now beginning to scale together."

“We are seeing strong momentum across our international B2B business, supported by expanding opportunities in private markets, institutional procurement, and government tenders across the world. Our strategic relationship with PFSCM has commenced on a very encouraging note and further strengthens our long-term position in global healthcare procurement,” he further added.

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