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

Strategic Benefits

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

1. IMFL (Indian Made Foreign Liquor) manufacturing projects in Goa and West Bengal
2. Brewery assets in Orissa and West Bengal
3. Enhanced national footprint capacity
4. Improved revenue visibility
5. 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:

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.

Cupid Breweries And Distilleries Limited has announced significant changes to its auditing team, as approved by the company's Board of Directors on November 18, 2025. These appointments come in the wake of resignations and discontinuations of previous auditors, marking a notable shift in the company's financial oversight structure.

Key Appointments

The Board has approved the following appointments:

Reasons for Changes

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

2. 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, subject to shareholder approval.
• 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)

• Peer-reviewed partnership firm of Chartered Accountants
• Extensive experience in various types of audits, including statutory, internal, concurrent, and stock audits
• Expertise in company law compliance, forensic accounting, business valuations, and mergers & acquisitions
• Strong track record in bank audits, credit audits, and systems audits

M/s. R Narsihma and Associates (Internal Auditor)

• Experienced in Accounting, Auditing, Taxation (Direct Tax and GST)
• Provides Consultancy and Virtual CFO (VCFO) services
• Offers end-to-end accounting, monthly financial closings, and statutory compliance services
• Expertise across diverse sectors including Construction & Real Estate, Banking, Healthcare, and IT

These appointments are part of Cupid Breweries and Distilleries Limited's commitment to maintaining robust financial oversight and ensuring compliance with regulatory requirements. The company expects these changes to contribute to efficient financial management and informed business decision-making.

The Board meeting that approved these appointments commenced at 09:00 p.m. (IST) and concluded at 09:12 p.m. (IST) on November 18, 2025. Further details about these appointments are available on the company's website at www.cupidalcobev.com .