Cupid Limited (CUPID) fair value: what the stock is really worth
As of Sep 22, 2026: fair value of Cupid Limited ₹27.36, price ₹258, upside -89.4%, quality 70 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Structural break:
The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.
Stretched ValuationQuality growthStrong overvaluation with only moderate quality.
!Fair value ₹27.36 · Strongly overvalued (−89%)
✓Quality 70/100
!Mixed Growth(revenue 5y +20.5 %/yr)
✓Highly profitable · 28.9% net margin (TTM)
✓Low debt · generates free cash flow
✓Ranks above peers(7/11)
✓Wide moat98/100
!Evidence only low, so the estimate is less certain
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range ₹1.99 – ₹1,000,000 · fair‑value band ₹14.62 – ₹53.98 · the ₹258.20 price screens above the ₹27.36 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Cupid Limited designs, manufactures, markets, and exports male and female condoms in India.
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Cupid Limited designs, manufactures, markets, and exports male and female condoms in India. The company offers water based lubricant jellies; in vitro diagnostic kits, including rapid diagnostic, viral transport medium, typhoid antibody, syphilis antibody, HIV 1 and 2 kit antibody, dengue IgG/IgM, malaria Pf-Pv and Pf-PAN antigen, hepatitis B (HbsAg) antigen, hepatitis C (HCV) antibody, pregnancy detection testing kit, LH ovulation testing kit, and dengue NS1 testing kit; and personal care products including deodorants, perfumes, toilet sanitizers, menstrual cups, petroleum jelly, hair and body oils, and hair removal sprays. It also exports its products to countries in Africa, Europe, Asia-Pacific, North America, Middle East, and South America. The company was formerly known as Cupid Condom Limited and changed its name to Cupid Limited in January 2006. The company was incorporated in 1993 and is based in Nashik, India.
Stock analysis
Cupid Limited (CUPID) currently trades at ₹258.20, while our model-based Fair Value estimate is ₹27.36, implying the stock looks roughly 843.4% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹21.34 per share, and 0 of the 24 models we run sit above the ₹258.20 price.
Bear case: the Economic Profit group reads lowest at ₹7.67, and 24 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹14.62 (bear) to ₹53.98 (bull), the price of ₹258.20 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 70/100 (solid quality), in the Consumer Defensive sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Cupid Limited reported revenue of ₹3.6B in FY2026 versus ₹1.3B in FY2022, a compound +28.1%/yr. Reported net income was ₹1.1B in FY2026, compounding +58.2%/yr from FY2022.
Key figures
Market cap ₹354B (≈ $3.7B) · P/E ratio 326.8 · P/S ratio 98.9 · EPS (TTM) ₹0.7900 · Net margin 30.3% · Return on equity 27.3% · Return on assets (EBIT) 15.5% · Operating margin 30.2%.
What moves the price
For context, the median of 10 Consumer Defensive peers we cover trades at −25% fair-value upside, at −89%, CUPID screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (₹2.25 to ₹36.75). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear ₹14.62Fair Value ₹27.36Bull ₹53.98
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹0.3831 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.91/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+98.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+32.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+20.5%
Start year 2021 (pandemic). Over 10 years: +19.3% a year
Revenue growth 20 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.1%
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What shareholders gained per year (last 5 years), in INR (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+26.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+26.0%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.22% vs 21%, steady
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.24% → 31%
2026 sits 166% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2021 (pandemic)
Growth Forecast
A lot of optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
more than +80 %
Yearly growth needed for the next five years to justify today's price.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Household & Personal Products · 247 stocks
Beats the industry median on 7/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score70 · Top 25%
Fair Value upside−89% · Bottom 25%
Profitability
Return on equity (TTM)27% · Top 25%
Return on assets17% · Top 25%
Net margin (TTM)29% · Top 25%
Operating margin (TTM)30% · Top 25%
Growth and dividend
Revenue growth112% · Top 25%
Balance sheet
Debt / equity0.03× · Below median
Valuation Multiplesvs Household & Personal Products median · lower = cheaper
P/E (TTM)326.8× · Priciest 25%
P/S (TTM)94.59× · Priciest 25%
P/FCF9.4× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 32
FUTURE (revenue growth)100· sector 9
PAST (return on equity)100· sector 27
HEALTH (low debt)99· sector 98
DIVIDEND (yield)0· sector 55
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Cupid Limited Fair Value". https://www.fairvalue-calculator.com/stock/CUPID
Frequently asked questions
Is Cupid Limited (CUPID) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ₹27.36 versus a price of ₹258.20, about −89% upside (overvalued).
What is the fair value of CUPID?
Our model-based fair value for Cupid Limited is ₹27.36 (as of Sep 24, 2026), built from audited fundamentals. The current price: ₹258.20.
What is the quality score of CUPID?
Cupid Limited has a Quality Score of 70/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Cupid Limited (CUPID)?
Our model-based price target is the fair value of ₹27.36 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario ₹14.62, optimistic scenario ₹53.98. It is a calculation from audited fundamentals, not an analyst target.
What is the Cupid Limited stock forecast for 2026?
Our models put fair value at ₹27.36, about −89% upside versus a price of ₹258.20 (overvalued). Cautious scenario ₹14.62, optimistic scenario ₹53.98. The calculation is refreshed regularly with new filings.
What is the revenue of Cupid Limited (CUPID)?
Cupid Limited reported trailing-twelve-month revenue of about ₹3.7B (latest available figure, as of Sep 24, 2026).
What growth is priced into Cupid Limited (CUPID)?
For today's price to be fair in a discounted-cash-flow model, Cupid Limited would have to grow free cash flow by more than 80 % per year for five years (discount rate 10.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +20.5 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of CUPID use?
Our models discount Cupid Limited at 10.9 %: a base by market capitalisation (mid), damped by beta 0.34, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Cupid Limited that is more than 80 % per year a year over ten years, using the same discount rate (10.9 %) and the same formula as our fair value.
How much growth has Cupid Limited (CUPID) delivered so far?
Over the past 5 years revenue at Cupid Limited grew +20.5 % a year. The price currently implies more than 80 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Cupid Limited (CUPID) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Cupid Limited (more than 80 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Cupid Limited (CUPID)?
The free-cash-flow yield on the price is 0.11 %: that much free cash flow Cupid Limited produces per unit of market value. When it exceeds the discount rate of our models (10.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Cupid Limited (CUPID)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cupid Limited it is ₹27.36 per share (as of Sep 24, 2026), against a price of ₹258.20. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Cupid Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, CUPID trades above its calculated fair value: price ₹258.20, fair value ₹27.36, a gap of about −89% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CUPID?
No. The price is what the market pays today (₹258.20); the fair value is what the company's own numbers justify (₹27.36). For Cupid Limited the two are ₹230.84 per share apart. That gap is exactly why we show both numbers side by side.
How much is Cupid Limited worth?
The market values Cupid Limited at about ₹354B (market capitalisation, as of Sep 24, 2026). Per share that is ₹258.20; our models calculate a fair value of ₹27.36 per share.
What do the bullish and bearish scenarios say about CUPID?
Our models span a range for Cupid Limited: cautious scenario ₹14.62, base ₹27.36, optimistic ₹53.98 per share (as of Sep 24, 2026, price ₹258.20). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CUPID?
Cupid Limited trades at a price-to-earnings ratio of 326.8 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹27.36 is built from several models across several years. Other multiples: P/S 94.6.
How solid is the balance sheet of Cupid Limited (CUPID)?
Balance-sheet figures for Cupid Limited (as of Sep 24, 2026): return on equity 27.3%, debt of 0.03 per unit of equity. They feed the Quality Score of 70/100, which measures business quality independently of the share price.
Which stocks are comparable to Cupid Limited?
From the same area (Consumer Defensive) we also value The Procter & Gamble Company, Colgate-Palmolive Company, Hindustan Unilever Limited, Kenvue Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Cupid Limited stock attractive at the current price?
The data as of Sep 24, 2026: price ₹258.20, calculated fair value ₹27.36 (−89%), Quality Score 70/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CUPID calculated?
We run Cupid Limited through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹27.36, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Cupid Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Cupid Limited (CUPID)?
The closing price on Sep 22, 2026 was ₹258.20. Our model-based fair value is ₹27.36, about −89% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cupid Limited right now?
A high-quality business (quality 70/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case (₹53.98). The favourable scenario is already priced in. The model range is unusually wide (₹14.62 to ₹53.98). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Where does the earnings growth of Cupid Limited (CUPID) come from?
Earnings per share at Cupid Limited grew +17.4 % a year from 2015 to 2026. Broken into its drivers: revenue per share +15.7 %, EBIT margin −2.8 %, tax rate +1.8 %, residual (interest, one-offs) +2.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Cupid Limited
How large is the market capitalisation of Cupid Limited (CUPID)?
The market capitalisation of Cupid Limited is ₹354B (≈ $3.7B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Cupid Limited (CUPID)?
The price-to-sales ratio of Cupid Limited is 98.9 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Cupid Limited (CUPID)?
Earnings per share at Cupid Limited are ₹0.7900 (price ÷ EPS = P/E 326.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Cupid Limited (CUPID)?
The net margin of Cupid Limited is 30.3% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Cupid Limited (CUPID)?
The return on equity (ROE) of Cupid Limited is 27.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Cupid Limited (CUPID)?
On an EBIT basis the return on assets of Cupid Limited is 15.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Cupid Limited (CUPID)?
The operating margin of Cupid Limited is 30.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cupid Limited (CUPID)?
Revenue at Cupid Limited is growing +112% versus a year earlier (3y avg +32.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Cupid Limited (CUPID)?
Earnings per share at Cupid Limited are growing +214% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Cupid Limited (CUPID) hold?
Cupid Limited holds more cash than debt, ₹1.3B net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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