Cupid Breweries and Distilleries Limited approved its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, during a Board meeting held on July 09, 2026. The results were accompanied by a Limited Review Report as required under Regulation 33(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Board authorised officials to undertake a visit to Steinecker GmbH in Germany to evaluate advanced brewery technologies and explore potential business collaboration opportunities. This move aims to assess technological advancements that could benefit the company's operations.

Fund-Raising and Acquisitions

In a strategic move to bolster its financial framework, the Board approved the execution of mandates and agreements with prospective financial advisors, investment bankers, and consultants, including Jones Lang LaSalle (JLL). The proposed fund-raising initiative is intended to support the acquisition of operational units and strengthen the company's commercialization roadmap.

The Board also reviewed the status of the proposed acquisition of the Gopalpur Unit from United Spirits Limited (USL). The acquisition process is currently progressing with concerned Government authorities and is expected to be completed upon receipt of the requisite statutory and regulatory approvals and clearances.

Cupid Breweries and Distilleries Limited has appointed Mr. Meharbaba Prasad Kalidasu and Mr. Soundara Pandian as Additional Independent Directors effective July 02, 2026. The Board of Directors approved the appointments during its meeting held on July 02, 2026. These strategic additions aim to strengthen the company's governance framework with extensive expertise in banking and finance.

Mr. Meharbaba Prasad Kalidasu (DIN: 11069073) brings over 38 years of experience in the banking sector, primarily with the State Bank of India. His career includes leadership roles in Corporate Finance, Project Finance, and Risk Management, where he managed business portfolios exceeding ₹60,000 crore. Mr. Kalidasu holds a Bachelor's Degree in Commerce (Hons.) and is a Certified Associate of the Indian Institute of Bankers.

Mr. Soundara Pandian (DIN: 07566951) is a banking and corporate governance professional with over 43 years of experience. He spent 34 years in banking, serving in senior positions at Tamilnad Mercantile Bank Limited and City Union Bank Limited. Since 2018, he has served as an Independent Director on various listed company boards. He holds a B.B.A. degree, is a CAIIB qualified banker, and is an IICA-MCA Certified Independent Director.

The Board meeting commenced at 04:40 p.m. (IST) and concluded at 04:52 p.m. (IST). The disclosure regarding the appointments was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Appointments Summary