Till Q2 Concall, sales were around 38 cr + orders worth 46 cr was expected to be dispatched by Mgmt for Q3 & Q4 = 84 cr for FY 17. Mgmt mentioned that they would repeat performance of 38 cr in second half i.e 76 cr but were not committing to entire 84 cr for FY17. Reported Net Sales were 82.93 cr, so essentially Co. fell short by 1.07 cr, which is not much and also something that I`m not entirely sure of.
I do not remember mention of renewal order in present concall. Last time mgmt said SA tender is expected to be in Dec`17 & that they might increase their requirements by 50% more than previous tender. Another trigger that I forgot to mention above, Thanks!
One more point about India order…order from Ministry of Health & Family Welfare,India.
Allocated budget for contraceptive procurement is 755 cr. Cupid is L1 in this tender
Govt of India…
Contraceptive condom uses increasing
Is this a good sign? because company is in the stage of growth… why would someone sell stake to buy real estate in US in prospectus is good for company?
Few % change in promotor holding is not a concern if promoters have genuine reason and company growth intact. We also do
@hnk_so do you know the duration of this tender and what portion of this tender will go to cupid?
As per Q4 con call…it is 125 cr where cupid is L1 in first half. Larger GOI and international tenders will follow in second Half of the FY18. Request to go through con call as it gives detailed guidance.
do you have any link of concall transcript
Not sure if the below link has been posted previously in the same thread, but here goes …
Interesting to note at the various attempts ( both ongoing & abandoned) for the FDA clinical trials from various competitors.
Research report by BOB Capital Markets Ltd.
Target: 390 | Upside : 35.7%
Add campaign on tweeter:
Doing little googling (few links for just info !!)
(One company’s hard work to win US FDA will help other to get benefits!)
http://www.times.co.zm/?p=95353 (increase penetration and awareness will expand female condom market)
https://www.theguardian.com/global-development/2017/jun/01/indian-soap-tackles-taboos-become-one-worlds-most-watched (rular awareness is the most important to expand market)
Logically and scientifically, it is the male condom mkt which shd grow- it is much better than female condom in all respects! Only in parts of Africa and with prostitutes etc it is the female condom which has some mkt. How many of investors in Cupid use female condom instead of male?
As world becomes more literate and educated, the need of female condoms may not be there!
Peope have been trying to do that for, i guess, more than 200 yrs.
I have some points
- FC is a high margin business
- It is under penetrated
- FC business has less competition
- If FC gets USFDA nod than co can sell fc for 2 dollars each.
- There are already various players in MC , which makes margin less which ultimately reduces EBIDTA.
Thanks & Regards
CA Anand Sharma
To my knowledge, FC is the reason we all know Cupid Ltd
It is worth noting that management projected contribution from Lubes to jump from 5% last year to 10% this FY… Considering 15 to 20 percent growth for this FY this would be a more than 100% growth for this new product line.
Yes, agree. FC has EBITDA margin of 50-55% currently, but competition will catch up in 1-5 years. FC margins can dip to 30%. Also, there is a real issue of succession. The promoter is in his 70s and his children not keen to run the business. Cupid is looking out for a professional CEO.
Also, he wants to move away form B2B to B2C gradually which requires huge investments in brand building and is very competitive.
I wont care about succession. Sooner than later an able CEO will be found. Rest of your concerns are very valid.
Disc- Not Invested but have interests.