Cupid Limited Receives Vendor Approval from Godrej Consumer Products Limited (GCPL) for the Supply of Kamasutra Condoms

MUMBAI, India, June 3, 2024 /PRNewswire/ -- Today, Cupid Limited announced that it has been approved as a vendor by Godrej Consumer Products Limited (GCPL), to provide Kamasutra condoms. This significant achievement includes an initial order from GCPL, a testament to its product's quality, valued at a substantial INR 2.4 Crore, with the execution scheduled to begin on July 24.

Aditya Halwasiya, Managing Director, Cupid Limited, remarked, "Cupid Limited has recently entered the direct-to-consumer market in India, with its Cupid brand range, including male and female condoms, personal lubricants, CupiSure pregnancy kits, and Cupid Rizz pocket perfumes and deodorants. We are immensely proud to partner with a reputable entity like GCPL."

He added, "We look forward to nurturing and expanding our relationship with GCPL in the upcoming quarters and years. This partnership highlights Cupid Limited's dedication to quality and cutting-edge practices."

Cupid Limited's strategic move into the direct-to-consumer market, along with this esteemed collaboration with GCPL, emphasizes the company's commitment to providing top-tier products and widening its presence in the personal care sector. The association with GCPL, a key player in the consumer goods industry, is anticipated to not only propel significant growth for both companies but also improve product accessibility and choice for consumers.

About Cupid Limited

Established in 1993, CUPID Limited is India's premier manufacturer of male and female condoms, water-based lubricant jelly, IVD kits and Deodorants. The company boasts a production capacity of up to 480 million male condoms, 52 million female condoms, 210 million sachets of lubricant jelly and 20 million IVD Test Kits annually. In March 2024, the company completed a strategic land acquisition that will enable it to amplify its production capacity by 1.5 times the existing output. As a result, the annual production capacity will be augmented by approximately 770 million male condoms and 75 million female condoms. This expansion is in addition to the current production capacity. The company has a prominent presence in the international markets and holds the distinction of being the first company in the world to attain WHO/UNFPA pre-qualification for male and female condoms. CUPID currently exports its products to over 105 countries, with over 90% of its revenue generated from international markets. Furthermore, CUPID has established a long-term agreement with WHO/UNFPA. The company is listed on BSE (BSE: 530843) and NSE (NSE: CUPID).

About Godrej Consumer Products Limited (GCPL)

Godrej Consumer Products Limited (GCPL) is a prominent player in the Indian consumer goods sector, providing an extensive range of products in personal care, home care, and other categories. Recognized for its commitment to excellence and customer satisfaction, GCPL remains a trusted name in Indian households.

Disclaimer:

Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the success of our investments, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, our ability to successfully implement our strategy, our research and development efforts, changes in the value of the Rupee and other currency changes, intense competition in the industry including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, withdrawal of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Cupid Limited may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Board of India, Stock Exchange and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.