Cupid Breweries And Distilleries Ltd

Cupid Breweries And Distilleries Ltd has entered into a non-binding Memorandum of Understanding (MoU) for technology and business collaboration. This partnership aims to enhance manufacturing processes, product quality, and operational stability. The collaboration is in connection with the company's commencement of commercial operations and aligns with applicable food safety and excise laws. Further updates will be provided as per regulatory requirements.

Cupid Breweries And Distilleries Ltd announced that its Board of Directors has approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The board also authorized officials to explore advanced brewery technologies with Steinecker GmbH, Germany, and to execute agreements for fund-raising initiatives to support acquisitions and commercialization. Additionally, the board reviewed the progress of the proposed acquisition of the Gopalpur Unit from United Spirits Limited, noting that the process is advancing with government authorities.

Cupid Breweries reported a consolidated net loss of ₹0.85 Cr for Q1 FY-2027 (quarter ended June 30, 2026), nearly double the ₹0.38 Cr loss in the year-ago quarter. Total income remained negligible at ₹0.002 Cr with zero operational revenue; the company is entirely pre-commercial. Expenses of ₹0.854 Cr were driven primarily by finance costs (₹0.30 Cr), depreciation (₹0.12 Cr), and other operational scaling expenses (₹0.43 Cr). The loss did improve 32% sequentially from Q4 FY-2026's ₹1.26 Cr loss, suggesting cost containment traction. With no operational sales, negative EPS of ₹0.09, and ongoing acquisition of the Gopalpur unit from United Spirits Limited plus planned fundraising, the company remains in heavy investment/scaling mode.

Cupid Breweries And Distilleries Ltd has announced that its Board of Directors will convene on July 9, 2026. The primary agenda for this meeting is to consider, review, and approve the un-audited standalone and consolidated financial results for the quarter ended June 30, 2026. The meeting will also include the review of the Limited Review Report from the auditor as per SEBI Listing Regulations. Other ancillary matters will also be discussed. The company will make this information available on its website, www.cupidalcobev.com.

Cupid Breweries And Distilleries Ltd announced the appointment of Mr. Meharbaba Prasad Kalidasu and Mr. Soundara Pandian as Additional Independent Directors to its Board. The appointments are effective from July 02, 2026. Mr. Kalidasu brings over 38 years of banking experience, including leadership roles at State Bank of India in corporate and project finance. Mr. Pandian has over 43 years of experience in banking and corporate governance, having served in senior positions at Tamilnad Mercantile Bank and City Union Bank, and as a director on various listed boards since 2018. These appointments aim to strengthen the company's governance framework and provide strategic guidance.

Cupid Breweries And Distilleries Ltd announced the appointment of Mr. Meharbaba Prasad Kalidasu and Mr. Soundara Pandian as Additional Independent Directors. The appointments were approved at a Board Meeting held on July 02, 2026, effective immediately. Mr. Kalidasu brings over 38 years of banking experience, including leadership roles at State Bank of India in corporate and project finance. Mr. Pandian has over 43 years of experience in banking and corporate governance, having served in senior positions at Tamilnad Mercantile Bank and City Union Bank, and as a director on various listed boards since 2018. Both appointments are expected to enhance the company's governance framework and strategic guidance.

Cupid Breweries And Distilleries Ltd announced the appointment of Mr. Meharbaba Prasad Kalidasu and Mr. Soundara Pandian as additional Independent Directors to its Board. The appointments are effective from July 02, 2026. Mr. Kalidasu brings over 38 years of banking experience, including leadership roles at State Bank of India in corporate and project finance. Mr. Pandian has over 43 years of experience in banking and corporate governance, with prior roles at Tamilnad Mercantile Bank and City Union Bank, and has served on boards of listed companies since 2018. These appointments aim to strengthen the company's governance and strategic guidance.

Cupid Breweries And Distilleries Ltd has announced the closure of its trading window for designated persons and their immediate relatives. This closure is in effect from July 1, 2026, and will remain open 48 hours after the declaration of the company's financial results for the quarter ended June 30, 2026. The company is adhering to SEBI (Prohibition of Insider Trading) Regulations, 2015. The date for the board meeting to consider these unaudited financial results will be communicated separately. The information will also be available on the company's website.

Cupid Breweries And Distilleries Ltd has executed an Agreement for Sale and Transfer with United Spirits Limited (a Diageo Group company) for the purchase of an operational alcobev unit in Gopalpur, Odisha. The deal, valued at ₹22.50 Crores (exclusive of taxes and charges), includes land, building, plant & machinery, and premium excise licenses. Cupid Breweries has paid an advance of ₹1.00 Crore. This acquisition is a strategic move to expand its manufacturing capabilities, acquiring a unit with a capacity of approximately 2,50,000 cases per month, strengthening its position for future growth.

Cupid Breweries And Distilleries Ltd submitted information regarding the resignation of their Statutory Auditor, M/s. H Rajen & Co, following an earlier disclosure on November 17, 2025. The resignation letter was received on November 16, 2025. The company has now received and submitted the information required under SEBI Circular No. CIR/CFD/CMD1/114/2019 dated October 18, 2019. The auditor resigned due to the submission of data/documents/information not being acceptable for conducting the Limited review audit and peer pressure from the board/management.