Hi these are certain queries i had regarding cupid ltd which i posted to their CS and management you can use for evaluation
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Thank you. Surprised to know they’re still operating at full capacity except for the lockdown period. That’s very good resilience shown by the business.
However, a small worry I have is that Mr. Garg promised the loan would be repaid once the Brazil situation was resolved. But in the Q4 results, we can still see the Rs. 31 Crores loan sitting on the books.
Although Q4 results were declared late due to covid BUT the numbers posted show the status of 31st March 2020.
We can get clue with details (interest paid) published in Q1 results, which should be available within next 10-12 days.
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Company has received USFDA approval for 4 additional variants of Male Condoms
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I too checked the site. While the price for female condoms is per piece, it is per gross (144) for male condoms. This matches with the Rs. 21 and Rs. 2 realisation.
Thanks.
Rajiv
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https://www.accessdata.fda.gov/scripts/cdrh/cfdocs/cfpmn/pmn.cfm?ID=K201067
This is great news for shareholders… it will transform the lumpy business to a bit more streamlined revenue model. I hope they do a concall after the results
That makes sense. Even I thought it must have been Gross Quantity. But may I know where you got the 144 number from? Thank you.
It is available at the unfpa website. When you click on condoms to check pricing it gives price for a given quantity. The link provided in your email.
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This is not a big thing, but I checked the UNFPA website again. Now, even Female Condom rates are being shown per gross. We can see that the website has been updated very recently to make this change.
Not sure if any communication went from Cupid’s side.
(Source: https://www.unfpaprocurement.org/products?id=FCLATEXSPONGE)
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Does the USFDA approval mean the company is going to supply MC to US retail market? A good question to ask in the con call would be revene / margins we can expect on this. The US MC market is probably the largest in the world and with the USD/INR exchange rate, this might be a sizeable opportunity. Although EBITDA margins may not be that high, size could be huge.
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Q1FY21 Concall Intimation
Both surprised and relieved that they’ve started conducting a concall again so soon.
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Results look fine considering covid
TO : 28.48 Cr
PAT : 5.92 Cr
The company is actively considering to enter into manufacturing of Medical Devices for use in the treatment of COVID, Dengue, HIV, Malaria and other diseases, etc.
Interesting developments of today’s board meeting
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Reappointment of Mr. Omprakash Garg as Chairman and Managing Director of the company for the next term of 5 years from 20th July, 2021 to 19th July, 2026.
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Approved the appointment of Mr. Suresh Chand Garg (Mr Garg’s brother) as an Additional Director (Non-Executive and Non-Independent) - He has completed M.A. (Economics) in 1975 from Rohtak (Haryana) University. He has experience of 37 years of managing and administering own business. No mention of industry specific experience.
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Approved the appointment of Ms. Nalini Mishra as an Additional Director (Non-Executive & Independent) - She has experience in field of law as an International Lawyer, specializes in International arbitration, Mediation, International contracts, Maritime laws, Shipping and Corporate Laws. She has been involved in complex International and Domestic Arbitration proceedings in the fields of Shipping, Maritime, Commercial, Energy and Banking, under all major International arbitration rules at Singapore, New Jersey, London and Geneva and she has been advising the clients as to the substantive and procedural law aspects of the matters under Indian and English law at pre and post -arbitration stage
With these new appointments, what does management want to indicate…
appointing brother gives a hint towards solving succession issue?
Legal expert is needed only when you get into such issues … are they expecting something or have they got into such issues… two hints… increase in employee expense (we know that Mr Garg is very keen on this aspect and perhaps it has delayed the appointment of CEO in last 2-3 years)… second is interest expense remains same as Q4… haven’t they received their pending payment from Brazil … I know that CS has responded to one forum member that nothing is pending… but then why huge interest
Let us wait for concall tomorrow… would love to hear answers from management
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International lawyer will be required since they are expanding to USA?
Yes on interest payments, they were supposed to clear the debt that was used as WC. Let’s see what they say tomorrow. I do have a positive feeling.
Press Release
http://www.bseindia.com/xml-data/corpfiling/AttachLive/a0c0a2a2-990b-42d8-9473-d6fa7e367b91.pdf
This is a commentary on the Quarterly results as usual. But here’s the interesting part:
They’re planning to venture into Medical Devices, it looks like? This has me a little worried. I don’t think Cupid has any Competence in this space.
We’ll have to wait and see what’s the complete plan. Someone please ask about this in tomorrow’s call.
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There was also a considerable drop from 61% to 43% of the profitable Female condoms. Has any one got details of their order book for the Q1 so that we can see their mix of Male and Female condoms?
I agree.
Also, I wanted to know do you think getting into hair removal cream and hand sanitizer is also getting into unrelated businesses?
But in the current time it seems everyone is making hand sanitizers. (Got shocked when saw Asian Paints joining the race.)