Multibagger pharmaceutical stock rises by 5% on the upper circuit announcing a 1:10 stock split and 1:1 bonus issue

The shares of Cupid Limited, which have a market value of Rs. 2,730 Crores, reached a 5 percent upper circuit at Rs. 2,034.74. In a single year, it has produced multibagger returns of 724 percent.

The board of directors of Cupid Limited has announced that bonus shares will be distributed in a ratio of 1:1, meaning that one equity bonus share will be issued for every equity share that shareholders own. The record date for identifying which shareholders are eligible to receive the dividend is set for April 4, 2024.

It has also declared the company’s stock split, in which one equity share with a face value of Rs. 10 will be split into ten equity shares having a face value of Rs. 1.

Under the Cupid brand, Cupid Limited is a company that deals in, markets, and produces rubber contraceptives and related preventive goods.

Six percent of Cupid Limited’s sales are generated domestically, with the remaining 94% coming from exports. The sales split by product shows that 75% of sales were of male condoms, 16% were of female condoms, and 9% were of lubricant jelly.

From Rs. 132.54 crores in FY22 to Rs. 159.22 crores in FY23, its operating revenue increased by 20.13 percent. Profits also increased, from Rs. 17.28 to Rs. 31.58 crores.