Brands
Havells India eyes consumer durables; to acquire Lloyd brand
MUMBAI: It’s made its mark in the electrical appliances and components sector, courtesy it highpowered media and advertising blitz in TV and in print. Now branding champion Havells India is looking to replicate that feat in the consumer durables business sector too. Over the weekend the company announced that it has received board approval to acquire Lloyd Consumer Durable Business Division at an enterprise value of Rs 1,600 crore.
The transaction will take about eight weeks to be executed. The company has signed an in-principle agreement with Lloyd Electrical and Engineering Ltd and Fedders Lloyd Corp Limited to acquire the Lloyd brand and the consumer durable business that is engaged in sourcing, assembling, marketing and distribution of consumer durables including air-conditioners, TVs, washing machines and other household appliances.
Havells will acquire the consumer business infrastructure, people, distribution network including and not limited to absolute, exclusive ownership and right to all intellectual property of Brand Lloyd, logo, trademark, goodwill and attendant rights
Havells is a major brand in the electrical appliances in components sector and is know for its focused advertising – especially for its tough wires.
Lloyd has, over the last decade, built a brand, distribution and service network to provide a comprehensive experience to its consumers. It is among the top 3 brands in air‐conditioners’ category with a well‐entrenched national network in Tier I and II cities. The brand has expanded into TVs and Washing machines as well.
Havells India CMD Anil Rai Gupta said, “The proposed acquisition is in line with Havells objective of ‘Deeper into Homes’, driving domestic expansion and owning a brand and distribution oriented asset. We would leverage and extend the trust associated with brand Havells to consumers, dealers, vendors of Lloyd and create a similar recognition in the consumer durables segment.”
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.
