Cupid Breweries and Distilleries Limited held its 40th Annual General Meeting (AGM) on September 30, 2026, announcing significant progress toward commencing commercial operations for its branded products.

The meeting, conducted via Video Conferencing/Other Audio Visual Means, was presided over by Chairman cum Managing Director Erramilli Venkatachalam Prasad. The company highlighted that it has developed its own brands and product recipes and is now progressing towards the manufacture and sale of these products in accordance with applicable regulatory requirements, including those of the Food Safety and Standards Authority of India (FSSAI).

Funding strategy and future plans

During the address, the Chairman noted that the Promoters and Directors have infused their own funds into the company to support business initiatives to date. The company has not raised any external funds through formal fund-raising exercises so far. However, the management indicated that the company may consider raising funds through permissible modes, including preferential allotment, at an appropriate time based on business requirements.

Key resolutions passed

Shareholders approved several key items of business, including the adoption of financial statements for FY26 and various director appointments.

Governance and attendance

The AGM was attended by seven directors, including three independent directors. Sachin Rawat, CFO and Company Secretary, conducted the proceedings on behalf of the Chairman. The e-voting results will be declared in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Cupid Breweries & Distilleries Ltd has confirmed the completion of electronic dispatch for the notice convening its 40th Annual General Meeting (AGM) along with the integrated annual report for FY26. The company published a newspaper advertisement in The News Hub and Mumbai Mitra on September 9, 2026, to comply with SEBI Listing Regulations regarding the dispatch of these documents.

The AGM is scheduled to be held on Wednesday, September 30, 2026, at 12:00 noon via Video Conferencing or Other Audio Visual Means. Shareholders are eligible to vote electronically during the remote e-voting period from September 27 to September 29, 2026. The notice outlines several special business items requiring shareholder approval, including the appointment of statutory and secretarial auditors and the re-appointment of independent directors.

Financial Performance

Cupid Breweries reported a consolidated net loss of ₹367.14 lakh for FY26, compared to no comparable figure disclosed for the prior period in the consolidated statement. On a standalone basis, the company incurred a net loss of ₹40.52 lakh in FY26, an improvement from the ₹50.29 lakh loss recorded in FY25.

Revenue from operations remained at ₹0.00 lakh on both standalone and consolidated bases, reflecting the company's pre-operational status in its core alcoholic beverage business. Total expenses stood at ₹367.34 lakh on a consolidated basis and ₹40.72 lakh on a standalone basis for FY26.

Governance Appointments

The board approved the following key appointments subject to shareholder approval at the AGM:

• Statutory Auditor: M/s. MMRS & Co., Chartered Accountants, appointed for a five-year term from FY27 to FY31.
• Secretarial Auditor: Ms. Neha Poddar, Practicing Company Secretary, appointed for a five-year term from FY27 to FY31.
• Independent Director Re-appointment: Mr. Ninad Maruti Dhuri recommended for a second five-year term commencing September 30, 2026.
• New Independent Directors: Appointment of Mr. M. Soundara Pandian and Mr. Meharbaba Prasad Kalidasu as independent directors for a first term of five years each.

Strategic Developments

During FY26, the company continued building its manufacturing platform through strategic acquisitions. It acquired 100% equity in Rinpoche Spirits Private Limited and increased its stake in Crochet Industries Private Limited to 99.78% via share swaps. The company also acquired land in Goa for a proposed manufacturing unit and received approval from the Government of Sikkim for a brewing unit lease.

What the Numbers Show

The divergence between standalone and consolidated losses highlights the impact of subsidiary operations. While the standalone entity reduced its loss by nearly 20% year-on-year, the consolidated loss widened significantly due to higher finance costs and other expenses at the group level. This suggests that while the parent company is managing its direct operational costs effectively, the integration and financing of acquired assets are currently driving broader group-level expenditures.