Well, I was listening to the management conf call today
This very question was asked to him & he suggested that this article looks biased against cupid & a proper reply wil be done to the author of this article ( He elaborated that cupid is making adequate efforts to educate the users about the product).
On the downside, he cautioned the next quarter to be as bad as the current one ( i.e only around 20 cr sales in Q4 )
The new SA tender is now more than double this time ( 124 million pieces vs 50 last time), so in a nutshell, he guided a flat Q4 & the pickup will be seen only around Q1 onwards.
IMHO, the stock price will remain rangebound around 250-300 till Q1
He also acknowledged that the B2C initiative is more cost heavy than he had expected.
However, some things which gave hope were
: The hand sanitizer product is ready for production, only distributor negotiations are ongoing, following which the sales will start soon.
: 20% capacity ramping is in full swing . Q1 will see the full benefits of this
: Good probability of the USFDA reclassifying FC as class 2, so less stringent for the US market going ahead
So the key event to watch out for will be the SA tender results in march.
Till then, cupid will be in doldrums