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Shares of a mid-cap Indian healthcare, wellness, personal care and consumer products company surged 13 per cent on Friday after the company announced a 4:1 bonus issue.

The board of directors approved the issuance of four fully paid-up equity shares for every one share held by shareholders, subject to regulatory and shareholder approvals.

The record date for the bonus issue will be announced in due course. The company said the bonus issue aims to improve stock affordability, increase retail participation, and enhance liquidity in the market.

The company under discussion is Cupid Limited. Established in 1993, Cupid Limited is a manufacturer and brand of male and female condoms, water-based personal lubricants, IVD kits, deodorants, perfumes, almond hair oil, body oils, petroleum jelly and other FMCG Products.

The company has recently expanded its product offerings to include Fast-Moving Consumer Goods (FMCG) such as fragrance products (Eau De Perfumes, Deodorants, Pocket Perfumes), personal care items (Toilet Sanitisers, Hair & Body Oils, Hair Removal Sprays, Face Wash), and other wellness solutions.

The announcement came on the same day as the company reported its Q3 FY26 results, with net profit nearly doubling from the year-ago quarter. Total income for Q3 FY26 rose 106 per cent to Rs 104.38 crore from Rs 50.76 crore, while operating income increased 102 per cent to Rs 93.50 crore.

EBITDA surged 201 per cent to Rs 34.30 crore, with the margin improving to 37 per cent from 25 per cent. Profit before tax grew 207 per cent to Rs 43.27 crore and net profit rose 196 per cent to Rs 32.83 crore, with net margin at 35 per cent compared to 24 per cent in the same period last year.

For the first nine months of FY26, Cupid Limited’s total income was Rs 259.36 crore, up 83 per cent from Rs 142.07 crore in the year-ago period. Operating income increased 87 per cent to Rs 237.75 crore, while EBITDA rose 179 per cent to Rs 79.19 crore.

Profit before tax jumped 144 per cent to Rs 95.01 crore, and net profit increased 145 per cent to Rs 71.97 crore.

Commenting on the move, Aditya Kumar Halwasiya, Chairman & Managing Director of Cupid Limited, said, “A 4:1 bonus issue supports broader retail participation by improving affordability, while also enhancing flexibility for our existing shareholders. Most importantly, it reflects our confidence in Cupid’s growth journey and our commitment to laying a strong foundation for the next phase of scale.”

Cupid Limited has a history of dividend payouts and corporate actions. The company declared dividends of Rs 3 on 18 September 2023, Rs 2 on 24 November 2022, Rs 3.50 on 19 September 2022, Rs 1 on 25 November 2021, and Rs 3.50 on 17 September 2021.

In corporate actions, Cupid Limited announced a 1:1 bonus issue and a stock split from Rs 10 per share to Rs 1 per share, both effective on 4 April 2024, with the record date set the same day.