Cupid gets board nod to set up FMCG manufacturing unit in Saudi Arabia

Healthcare products manufacturer Cupid Ltdon Monday, December 29, said its board has given an in-principle approval to set up a new FMCG manufacturing facility in Saudi Arabia. The proposed plant in the Kingdom of Saudi Arabia (KSA) is part of the company’s FMCG expansion strategy and is aimed at strengthening its presence in the Saudi and wider Gulf Cooperation Council (GCC) markets. The facility is expected to enhance regional supply capabilities, improve speed-to-market, ensure better product availability

and deepen market penetration across the Gulf region. Cupid said the project will be funded through internal accruals and will be taken forward subject to customary evaluations and receipt of required regulatory and statutory approvals.

Shares of the company ended at ₹487 apiece, which is 1.56% higher than the day's opening on Monday, December 29.

Cupid marked its entry to the Gulf region in July 2025, when the company announced a strategic investment in GII Healthcare, which is managed by Gulf Islamic Investments (GII), a firm with over $3.5 billion in assets under management. 

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Last week, Cupid said its promoter and promoter group have reduced the pledge on their equity shareholding to 20%, from 36.13% as of September 30, 2025. The company said the reduction in pledged shares reflects its improving financial position and the promoters’ confidence in Cupid’s long-term growth prospects. In Q2, Cupid posted 90.8% year-on-year growth to ₹90.23 crore. 

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