After Receiving a Supply Order from Tanzania Worth ₹42 Cr, the Pharmaceutical Stock Climbs 3%

Posted on : Monday , 10th March 2025

The Medical Stores Department in Tanzania has issued a work order to Cupid Limited, which manufactures IVD kits, personal lubricants and female and male condoms, for the supply of male condoms valued at around Rs. 42 crore. This order, which is scheduled to be implemented between May and July 2025, is a component of a framework agreement with an international corporation. As a result, the shares of Cupid Limited, which has a market capitalisation of Rs. 1,824.55 crores, climbed up to 3.1 percent, reaching a high of Rs. 70.76 per share, from its previous closing price of Rs. 68.57 per share.

Cupid Limited's chairman and managing director, Aditya Kumar Halwasiya, stated: "This is fantastic news for us and the Call-Off Order from the MedicalSfores Department, Tanzania is evidence of the solid partnerships the new team at Cupid has built over the last 15 months. Our goal is to build each company vertical in a sustainable and profitable manner and we have great aspirations for both our B2C and B2B businesses in India and outside.

One of the top pharmaceutical businesses, Cupid Limited focusses on designing, developing and producing medical devices, with a primary focus on contraceptive treatments. By adding pregnancy test kits, male and female condoms and other medical products to its lineup, the company has strengthened its position as a major supplier in the healthcare industry.

By the end of 2025, the Greenfield factory at Palava is anticipated to be operating, with a completed design. Hair oils, massage oils, scent items and lotions are now being developed as part of their B2C business launch.

From Rs. 40.78 crore to Rs. 50.76 crore, the company's income increased by 24.4 percent. In the same time frame, net profit increased from Rs. 8.86 crore to Rs. 11.04 crore.