Brands
Funskool plays it smart, crosses Rs 300 crore turnover with 20 per cent export boost and desi brand wins
MUMBAI: India’s homegrown toy titan Funskool just levelled up in a big way. For FY 2024–25, the company clocked a turnover exceeding Rs 300 crore—powered by a potent mix of desi hits and global play.
Recording over 20 per cent year-on-year growth, the brand credited its performance to a sharpened export strategy and deepening alliances with global toy majors. Exports alone surged by nearly 30 per cent, solidifying Funskool’s role as a serious player in the global toy trade.
“We are moving in the right direction. With an impressive growth trajectory, Funskool continues to play a vital role in advancing the ‘Make in India’ initiative,” said Funskool India Ltd CEO K.A. Shabir. “We are focused on deepening our partnerships with global toy brands and further positioning ourselves as a quality toy manufacturer in the international supply chain.”
Currently, Funskool contributes close to 20 per cent of India’s total toy exports. Its outbound shipments to the United States now account for around 40 per cent of that volume, giving the brand a strong foothold in one of the world’s largest toy markets.
The company’s ambitions don’t end there. For the ongoing fiscal, Funskool has set its sights on USD 40–45 million in revenue, driven by capacity expansions and the global tilt toward Indian manufacturing. The firm recently doubled output at its Ranipet facility and is now planning further upgrades at both Ranipet and Goa plants.
On the home front, the company has steadily built out its portfolio of Indian brands—including Giggles, Fundough, Handycrafts, Play&Learn, and its growing lineup of board and card games—cementing its reputation as a market leader.
With exports scaling and domestic love holding firm, Funskool’s FY25 performance proves that playtime pays off.
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.
