Outcome of Board Meeting.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
In a late-night Board meeting on November 14, 2025 (held between 11:36 PM and 11:58 PM), the Board of Cupid Breweries and Distilleries could not consider the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025. Statutory auditor M/s H Rajen & Co. expressed inability to proceed with the limited review because consolidated financial information from subsidiaries was not made available on time, despite repeated follow-ups. With no deliverables received even by the start of the Board meeting — although the auditor had verbally confirmed at 7:00 PM that information would be furnished shortly — the Board decided to seek the immediate resignation of M/s H Rajen & Co. and appoint a new statutory auditor without delay, citing governance, compliance, and shareholder interest concerns.
This is a significant negative signal for shareholders: Q2/H1 FY26 results are delayed, there is a mid-year statutory auditor change, and the original auditor could not complete even a limited review due to missing subsidiary data — raising serious governance and disclosure concerns that could weigh on the stock price and invite regulatory scrutiny from SEBI/BSE.