Cupid Limited — Updates, 24-01-2025: Press Release

Cupid Limited has received prequalification for its Brown Caramel Female Condom Variant from UNFPA, enabling the company to supply 100% of the upcoming South African Government Tender for a duration of five years. This tender, with bids closing on January 31, 2025, represents a significant step up from previous contracts, where Cupid was eligible to supply only 75% for shorter durations. The tender has an estimated annual requirement of 1 billion male condoms and 40 million female condoms. Managing Director Aditya Halwasiya emphasized the company's potential to maximize its orders through partnerships in South Africa, indicating a positive outlook for growth.

Cupid has a robust production capacity of up to 480 million male condoms and 52 million female condoms annually. A recent strategic land acquisition in Palava, Maharashtra, is set to increase production capacity by 1.5 times, adding approximately 770 million male condoms and 75 million female condoms annually. With exports to over 110 countries and a long-term agreement with WHO/UNFPA, Cupid is well-positioned for sustained growth in international markets.