Submission of Audited Standalone and Consolidated financial results along with declaration pursuant to Regulation 33(3)(d) of SEBI (LODR) Regulations, 2015 for the financial year ended March 31, 2026.
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Cupid Breweries and Distilleries Limited (formerly Cupid Trades and Finance Limited) submitted audited financial results for FY 2025-26. The company is in a pre-revenue scaling-up phase with negligible standalone income of Rs. 0.20 lakh (other income only) and zero revenue from operations. Standalone loss after tax was Rs. -44.63 lakh while consolidated loss after tax stood at Rs. -367.14 lakh. Consolidated operating cash flow was deeply negative at Rs. -1,770.81 lakh. A significant capital raise occurred via preferential allotment of 3,93,60,307 equity shares on March 3, 2026, increasing paid-up capital from Rs. 51.98 crore to Rs. 91.34 crore. The company now has 11 subsidiaries (including step-down subsidiaries) with consolidated total assets of Rs. 7,362.37 lakh. The auditors (MMRS & Co.) issued an unmodified opinion. The company stated it is scaling up operations and expenses will be amortized against future benefits.
The company is essentially pre-revenue with significant losses and negative operating cash flows, indicating it is in early-stage investment mode. The large capital raise provides runway, but shareholders face high risk given no commercial operations and heavy losses. The stock is essentially a shell/early-stage entry into the alcohol business.