Cupid Limited Welcomes GST Rate Rationalization as a Big Boost to FMCG Growth

Mumbai (Maharashtra) [India], September 9: Cupid Limited (BSE – 530843, NSE – CUPID), – Cupid Limited today welcomed the landmark recommendations of the 56th GST Council meeting, which announced sweeping reductions in Goods & Services Tax (GST) rates across a wide range of essential and consumer-focused products, effective September 22, 2025.

The Council’s decisions, including reducing GST on key FMCG categories such as dairy products, chocolates, confectionery, juices, shampoos, soaps, hair oil, toothpaste, biscuits, and packaged foods, will significantly enhance affordability for the Indian consumer and accelerate the nation’s consumption growth story.

As Cupid Limited is actively expanding its presence in the FMCG sector alongside its Diagnostic Kits offerings, these reforms will lower input costs, improve product accessibility, and catalyze volume growth.

Cupid’s Hair and Body Oils, Face Wash, and IVD Diagnostic Kits will directly benefit from the GST rate reduction. This will also indirectly support the growth of Cupid’s wider FMCG portfolio in India, leading to stronger consumer offtake across its entire basket of products.

The GST changes reinforce the company’s strategic roadmap of expanding into pan-India retail markets, building a strong consumer brand, and capturing share in high-growth categories.

Commenting on the development, Mr. Aditya Kumar Halwasiya, Chairman & Managing Director, Cupid Limited, stated, “The GST reforms are a game-changer for the consumer economy. By lowering the tax burden on essential and aspirational FMCG products, the government has put more purchasing power directly in the hands of Indian households. For Cupid Limited, this means our products can reach a wider audience at more attractive price points, while ensuring sustainable growth for our FMCG and Diagnostics verticals. We see this as not only a win for companies like ours, but also a win for the India Growth Story – driving higher demand, wider reach, and inclusive prosperity.”