- Cupid shares rose 4.07% to an all-time high of Rs 506.40 on NSE
- The board approved a new FMCG manufacturing facility in Saudi Arabia
- This will be Cupid's first plant outside India, targeting GCC markets
Cupid shares surged 4.07% on the National Stock Exchange, reaching an all-time high of Rs 506.40 per share, after the company's board approved plans to set up a fast-moving consumer goods facility in Saudi Arabia.
The proposed unit will be Cupid's first manufacturing plant outside India, aimed at supporting its FMCG growth strategy and strengthening its presence in overseas markets, starting with the Gulf Cooperation Council (GCC) region.
According to the filing, the facility is expected to enhance regional supply capabilities, improve speed to market, and ensure better product availability across KSA and other GCC countries.
The project will be funded through internal accruals and will proceed after detailed evaluations and regulatory approvals. By establishing a manufacturing base closer to key international markets, Cupid seeks to deepen its global FMCG footprint and boost service efficiency across the region.
Founded in 1993, Cupid is India's leading manufacturer and brand of male and female contraceptives, water-based personal lubricants, IVD kits, deodorants, perfumes, almond hair oil, body oils, petroleum jelly, and other FMCG products. The company operates with a strong commitment to public health and ethical business practices aligned with international standards.
As part of its strategic growth plans, Cupid has recently expanded into FMCG categories such as fragrance products (Eau De Perfumes, Deodorants, Pocket Perfumes), personal care items (Toilet Sanitizers, Hair & Body Oils, Hair Removal Sprays, Face Wash), and other wellness solutions.
In March 2024, the company completed a strategic land acquisition in Palava, Maharashtra, enabling it to increase production capacity by 1.5 times its current output.
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