Cupid Breweries And Distilleries Limited, formerly known as Cupid Trades and Finance Limited, has reported a net loss of Rs 20.58 lacs for the quarter ended June 30. The company's financial results, released on August 14, reveal a slight increase in losses compared to the same period last year when it reported a loss of Rs 19.40 lacs.

Financial Performance

The company's standalone financial results show:

• No revenue from operations during the quarter
• Total expenses: Rs 20.58 lacs
• Loss per share: Rs 0.04 (non-annualized)

Capital Structure and Expansion

Cupid Breweries has undergone significant changes in its capital structure:

• Paid-up equity capital increased to Rs 5,198.30 lacs from Rs 96.00 lacs
• Preferential allotment of 5,10,23,002 equity shares, including:
  • 5,00,12,411 shares for acquiring Crochet Industries Pvt. Ltd as a subsidiary
  • 10,10,591 shares for conversion of unsecured loans from directors

Strategic Initiatives

The company is pursuing several strategic initiatives to drive growth:

1. Odisha Facility Acquisition: Advanced stages of acquiring a ready-to-operate production facility in Odisha, subject to final terms, regulatory compliances, and financial closures.

2. Manufacturing Facility Redesign: AlcoBev Products manufacturing facility at Crochet Industries Pvt. Ltd redesigned to focus on value-added products.

3. Capacity Expansion: In talks with strategic and institutional investors to scale up production capacities.

4. Potential Acquisition: Shortlisted as a resolution applicant for acquiring SDF Industries Limited through Corporate Insolvency Resolution Process. Rs 1 crore deposited as earnest money.

Future Outlook

Despite current losses, Cupid Breweries is positioning itself for future growth:

• Expects scalable revenue stream from the third quarter of the current financial year
• Leveraging own asset base, brands, aligned contract bottling units, and required state excise licenses

Chairman and Managing Director, Mr. Erramilli Prasad Venkatachalam, stated that the company is scaling up operations, and the related expenses incurred for revenue generation will be amortized against the resulting benefits.

As Cupid Breweries continues to implement its strategic plans, investors and market watchers will be keenly observing how these initiatives translate into financial performance in the coming quarters.

Cupid Breweries And Distilleries Limited, a company listed on the BSE with scrip code 512361, has successfully secured shareholder approval for the appointment of two new Independent Directors through a postal ballot process. The company sought approval for appointing Mr. Sajid Bijnori (DIN: 02666906) and Mr. Ajay Gandeja (DIN: 08663702) as Independent Directors, both through special resolutions.

Postal Ballot Details

The e-voting process for the postal ballot commenced on June 20, 2025, at 09:00 A.M. IST and concluded on July 19, 2025, at 05:00 P.M. IST. Mrs. Bhumika Shah, Proprietor of M/s. Bhumika & Co. (ACS: 37321, CP No.: 19635), Practicing Company Secretaries, Mumbai, was appointed as the scrutinizer for the postal ballot process.

Voting Results

According to the company's filing with the BSE, both special resolutions were passed with the requisite majority by shareholders. The official declaration of the voting results was made on July 22, 2025, in compliance with Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Corporate Governance Implications

The appointment of Mr. Sajid Bijnori and Mr. Ajay Gandeja as Independent Directors is a significant step for Cupid Breweries And Distilleries Limited. Independent directors play a crucial role in ensuring good corporate governance practices, providing objective oversight, and protecting the interests of all stakeholders, particularly minority shareholders.

Company Background

It's worth noting that the company was formerly known as Cupid Trades and Finance Limited, as mentioned in the BSE filing. The change to Cupid Breweries And Distilleries Limited suggests a shift in the company's business focus, although the exact nature and timing of this transition were not specified in the provided information.

The successful appointment of these new Independent Directors through a transparent postal ballot process demonstrates Cupid Breweries And Distilleries Limited's commitment to maintaining strong corporate governance standards and ensuring diverse perspectives on its board.