Cupid Breweries Expands Footprint with Strategic Acquisitions Worth Rs. 354 Crores

Cupid Breweries And Distilleries Limited (ISIN: INE108G01010) has announced two significant acquisitions that are set to expand its market presence and production capabilities. The company's Board of Directors has approved these strategic moves, which involve share swaps valued at approximately Rs. 354 crores.

Key Acquisition Details

Acquisition Target	Stake	Value (Rs. Crores)	Mode of Acquisition
Rinpoche Spirits Private Limited	Up to 100%	348.38	Preferential share issuance
Crochet Industries Private Limited	8.75 lakh shares	5.86	Preferential share issuance

Strategic Benefits

The acquisitions are expected to provide Cupid Breweries And Distilleries with:

IMFL (Indian Made Foreign Liquor) manufacturing projects in Goa and West Bengal
Brewery assets in Orissa and West Bengal
Enhanced national footprint capacity
Improved revenue visibility
EBITDA scalability

These strategic moves align with the company's growth blueprint, potentially positioning Cupid Breweries And Distilleries for stronger market presence and operational efficiency.

Financial Implications

While the acquisitions promise growth, it's important to consider Cupid Breweries And Distilleries' current financial position. Based on the latest balance sheet data:

Metric	Value (Rs. Crores)	YoY Change
Total Assets	6.50	+490.91%
Current Assets	2.50	+2400.00%
Total Equity	-1.70	+41.67%
Current Liabilities	1.40	+1300.00%

The significant year-over-year increases in assets and liabilities indicate rapid expansion, which aligns with the company's acquisition strategy. However, the negative total equity suggests financial challenges that investors should monitor closely.

Conclusion

Cupid Breweries And Distilleries Limited's bold acquisition strategy marks a pivotal moment for the company. While these moves promise to enhance its market position and production capabilities, the financial implications of such rapid expansion will be crucial to watch. Investors and market observers should keep a close eye on how effectively the company integrates these acquisitions and manages its financial position in the coming quarters.

As the Indian alcohol market continues to evolve, Cupid Breweries And Distilleries' strategic positioning through these acquisitions could potentially yield significant long-term benefits, provided the company successfully navigates the financial and operational challenges that come with such expansive growth.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-4.99%	-22.59%	-59.62%	-61.86%	-35.59%	+33.62%

Cupid Breweries And Distilleries Limited has successfully concluded its postal ballot process, with shareholders overwhelmingly approving the appointment of new auditors. The company had earlier announced significant changes to its auditing team following resignations and discontinuations of previous auditors.

Postal Ballot Results

The e-voting for the postal ballot commenced on November 22, 2025 (09:00 A.M. IST) and concluded on December 21, 2025 (05:00 P.M. IST). Mrs. Bhumika Shah, Proprietor of M/s. Bhumika & Co. (ACS: 37321, CP No.: 19635), served as the scrutinizer for the postal ballot process.

Voting Details:	Results
Total Votes Polled:	11,38,158
Votes in Favor:	11,38,157 (99.99%)
Votes Against:	1 (0.00%)
Resolution Status:	Passed

Key Appointments Approved

The Board had approved the following appointments on November 18, 2025:

Position:	New Appointment	Firm Registration No.	Replacing
Statutory Auditor:	M/s. MMRS & Co.	013830S	M/s. H. Rajen & Co. (Reg. No: 108351W)
Internal Auditor:	M/s. R Narsihma and Associates	022363S	M/s. H. M. Shah & Co. (Reg. No: 109585W)

Reasons for Changes

Statutory Auditor: The appointment of M/s. MMRS & Co. fills the casual vacancy created by the resignation of M/s. H. Rajen & Co.

Internal Auditor: M/s. R Narsihma and Associates replaces M/s. H. M. Shah & Co., which was discontinued due to engagement in services inconsistent with auditor independence requirements.

Terms of Appointment

Statutory Auditor: M/s. MMRS & Co. will hold office until the conclusion of the 40th Annual General Meeting
Internal Auditor: M/s. R Narsihma and Associates will serve for the remainder of the financial year 2025-26

Profile of New Auditors

M/s. MMRS & Co. (Statutory Auditor) is a peer-reviewed partnership firm of Chartered Accountants with extensive experience in various types of audits, including statutory, internal, concurrent, and stock audits. The firm has expertise in company law compliance, forensic accounting, business valuations, and mergers & acquisitions.

M/s. R Narsihma and Associates (Internal Auditor) brings experience in Accounting, Auditing, Taxation (Direct Tax and GST), and provides Consultancy and Virtual CFO services. The firm offers end-to-end accounting, monthly financial closings, and statutory compliance services across diverse sectors including Construction & Real Estate, Banking, Healthcare, and IT.

These appointments reflect Cupid Breweries and Distilleries Limited's commitment to maintaining robust financial oversight and ensuring compliance with regulatory requirements. The overwhelming shareholder approval demonstrates confidence in the new auditing arrangements.