MAM
Saugata Gupta stays at the crease as Marico extends CEO term to 2028
MUMBAI: Still calling the shots, and how. Saugata Gupta is set for another two-year season at the helm of Marico Limited, with the FMCG major’s board approving his reappointment as managing director and CEO till March 2028.
Having joined the company back in 2004 as head of marketing, Gupta’s rise has been nothing short of a masterclass in brand leadership. From captaining the India business in 2007 to taking the reins as CEO in 2013 and MD in 2014, he’s led the Parachute-to-Set Wet empire through market winds with a steady hand and sharp instincts.
The boardroom decision, made on 2 May 2025, and filed with the stock exchanges the same day, means Gupta will notch up nearly 14 years as MD & CEO by the end of this renewed term, an impressive feat in an industry known for its churn.
Outside of Marico, Gupta also wears several advisory hats, serving as an independent director on the boards of Delhivery, Ashok Leyland, and formerly JSW Paints. His career before Marico included stints with ICICI Prudential and Mondelēz, lending him a marketing pedigree as rich as the brands he’s built.
With this extension, Marico’s leadership continuity seems sealed and set, as Gupta continues to script the brand’s next chapter in a fast-evolving consumer landscape.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
