Cupid has opened its new mother warehouse in Bhiwandi, Mumbai. This strategic initiative is in response to the remarkable growth of its business-to-consumer segment.The new mother warehouse underscores Cupid`s commitment to meeting the soaring demand for its products. Currently available in 50,000 outlets, the company aims to double this number within six months. This expansion will not only increase product accessibility for consumers but also solidify Cupid`s market position.Powered by Capital Market - Live News

Cupid announced a strategic partnership with SAP to implement the cutting-edge ERP system, SAP S/4HANA Cloud. This initiative underscores Cupid`s dedication to enhancing operational efficiency, improving decision-making processes, and driving sustainable growth through advanced technology. The integration of SAP S/4HANA Cloud will equip Cupid with a comprehensive suite of integrated applications, facilitating superior real-time data processing and analysis. This will enable more efficient resource management, supply chain operations, and new B2C distribution channels. Powered by Capital Market - Live News

Cupid announced the commencement of its strategic venture into the Indian market through the introduction of its Rapid In Vitro Diagnostic (IVD) kits distribution network. This move is a key component of Cupid`s overarching strategy to amplify its presence in the worldwide IVD market. Cupid has initiated the distribution of its IVD kits in various states across India, including Maharashtra, Goa, Gujarat, Rajasthan, Jammu & Kashmir, and Madhya Pradesh. The company is targeting a nationwide presence by the end of the fiscal year and has already established a strong sales team for this purpose. Cupid`s IVD kits hold certifications under ISO 13485:2016 and ISO 14001:2015 and have received approval from CDSCO. These products are validated by prestigious laboratories, including the National Institute of Biologicals (NIB), ICMR (Indian Institute of Malaria Research), and NABL Accredited Labs. The company is also in the process of securing WHO PQ and European CE certifications for multiple products. Cupid has successfully exported IVD kits to nations like Tanzania, Liberia, Ghana, the Philippines, and Nepal. Additionally, the company is currently in the process of product registration in Cameroon, Myanmar, Bhutan, Mozambique, Nigeria, Ethiopia, Zambia, and Sierra Leone. The present export orders total approximately Rs 1.25 crore. Powered by Capital Market - Live News

Net profit of Cupid rose 184.41% to Rs 23.72 crore in the quarter ended March 2024 as against Rs 8.34 crore during the previous quarter ended March 2023. Sales rose 51.57% to Rs 62.90 crore in the quarter ended March 2024 as against Rs 41.50 crore during the previous quarter ended March 2023.For the full year,net profit rose 26.19% to Rs 39.85 crore in the year ended March 2024 as against Rs 31.58 crore during the previous year ended March 2023. Sales rose 7.38% to Rs 171.09 crore in the year ended March 2024 as against Rs 159.33 crore during the previous year ended March 2023. ParticularsQuarter EndedYear Ended�Mar. 2024Mar. 2023% Var.Mar. 2024Mar. 2023% Var. Sales62.9041.50 52 171.09159.33 7 OPM %49.1325.54 -29.2825.93 - PBDT32.9412.02 174 55.5045.29 23 PBT32.2011.19 188 52.5742.32 24 NP23.728.34 184 39.8531.58 26 Powered by Capital Market - Live News

Cupid will hold a meeting of the Board of Directors of the Company on 8 April 2024.Powered by Capital Market - Live News