Cupid Q1 FY27: revenue up 159% YoY to ₹154.7 Cr, PAT nearly triples as margins expand

Consolidated revenue came in at ₹154.7 Cr, up 158.7% YoY and 29.0% QoQ, with PAT of ₹44.1 Cr up 194.2% YoY and 21.7% QoQ — basic EPS ₹0.33 versus ₹0.11 a year ago. Net profit margin expanded to 28.5% from 23.2% a year ago and 27.5% last quarter. Standalone PAT of ₹44.2 Cr is effectively identical to the consolidated number, since the only other entity in the group, foreign subsidiary Cupid Invesco, has total assets of just ₹25.72 Lakh and posted a ₹1.35 Lakh loss for the quarter. The growth was driven by a large jump in the trading line: purchase of stock-in-trade rose to ₹54.6 Cr from ₹8.4 Cr a year ago (versus a more modest 14.5% rise in cost of material consumed, to ₹18.7 Cr), alongside an ₹8.5 Cr inventory drawdown — consistent with a volume push through distribution/trading rather than in-house manufacturing alone. Total expenses grew 114.8% YoY to ₹97.1 Cr, slower than the 158.7% revenue rise, which is what let profit growth outpace the topline. No exceptional items were booked in either period, so this is a clean like-for-like comparison. On Jun 30, 2026 — ahead of this print — the company told exchanges it was 'poised to deliver revenue exceeding ₹150 Cr' in Q1 FY27 and raised its FY27 revenue outlook by a minimum of 10%, lifting the full-year target to ₹660 Cr from ₹600 Cr, citing international B2B momentum, private-market and institutional procurement, and government tenders. The actual ₹154.7 Cr print modestly clears that self-set bar. No formal analyst/street consensus could be located for this quarter — Cupid is a thinly covered small-cap — so the result cannot be benchmarked against street numbers; management's own guidance is the only available yardstick, and it was met. Promoter Aditya Kumar Halwasiya bought 21 lakh shares in the open market on Jun 3, 2026, ahead of this print, and the stock was reclassified to BSE Group 'A' on Jul 11, 2026. The same day as results, the board gave in-principle approval to explore a new manufacturing project in West Bengal covering medical devices and other healthcare products, to be run directly or via a new wholly owned subsidiary — an early-stage capacity/diversification move with no financials attached yet. The company also added $5 Mn to its GII Healthcare Partnership investment on Jul 29, 2026, continuing to deploy capital into healthcare-adjacent diversification alongside the core personal-care business. Hitting the raised ₹660 Cr FY27 target implies roughly ₹505 Cr of revenue across the remaining three quarters, against ₹154.7 Cr delivered in Q1.