Cupid shares end 10% higher ahead of Nifty Smallcap 250 inclusion tomorrow. How much inflows can it see?

Shares of Cupid rallied as much as 10% to hit Rs 291 on the BSE on Tuesday, as the company is set to enter the Nifty Smallcap 250 index as part of the NSE’s latest semi-annual rejig, effective September 30.

Cupid has been among the standout performers in the market this year, with its shares surging 250% over the past six months and around 180% since the start of the year. Following its inclusion in the index, domestic brokerage Nuvama Alternative and Quantitative Research estimates the stock could see inflows of around $10 million.

The rejig comes just days after the company raised its FY27 revenue and net profit guidance after reporting strong growth in the June quarter, with the company targeting revenue of Rs 725-750 crore and net profit of Rs 210-225 crore for the financial year.


Cupid entered FY27 with strong momentum. In the June quarter, total income grew 142% to Rs 157 crore, while profit after tax increased 194% to Rs 44 crore. EBITDA margin stood at 39%.

Cupid raised its FY27 guidance, citing the strength of the quarter, a robust order pipeline and continued momentum across its two business engines, global healthcare and the Bharat consumer business. For the medium term, the company is targeting revenue of Rs 1,085 crore in FY28 and Rs 1,500 crore in FY29.

The company’s growth continues to be driven by these two complementary businesses. During FY26, exports rose to Rs 208 crore, accounting for nearly 60% of revenue, with operations spanning more than 125 countries. Its order pipeline also reached its strongest level.

Cupid delivered strong growth in FY26, with total income rising 93% to Rs 391 crore, from Rs 203 crore a year earlier. Profit after tax surged 165% to Rs 108 crore, from Rs 41 crore, while EBITDA grew 180%. Net profit margin crossed 30%, and net worth increased to Rs 451 crore from Rs 342 crore.

The company also surpassed its initial FY26 guidance of Rs 335 crore in revenue and Rs 100 crore in profit, ending the year with its strongest quarter on record.

Cupid has raised its FY27 guidance to revenue of Rs 725-750 crore and net profit of Rs 210-225 crore. Looking further ahead, the company is targeting revenue of Rs 1,085 crore in FY28, followed by Rs 1,500 crore in FY29.

Disclaimer: This article has been written by Veer Sharma, who is not a SEBI-registered Research Analyst or an Investment Adviser. Veer Sharma and his ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.