MAM
Epack Group names Narayan Lodha as executive director and group CFO to sharpen financial play
MUMBAI: When a conglomerate with IPOs on the radar and diversified ambitions across durables, prefab, and packaging needs a steady hand on the financial tiller, it turns to a pro. Epack Group has done just that by appointing Narayan Lodha as its executive director & group chief financial officer, effective immediately.
The move signals Epack’s intent to bolster its financial firepower as it deepens its presence across consumer durables, prefabricated construction, EPS-based packaging, and petrochemicals. Lodha, a CA & company secretary, brings over 25 years of experience in corporate finance, capital markets, and strategic planning.
He steps into the role with an extensive resume: Lodha previously held senior posts at Vikram Solar, Inox Wind, Ravindra Energy, and Indian Energy Exchange. His track record includes leading IPOs, private equity placements, and debt raises. He also played critical roles in turnaround strategies and capital optimisation in India’s manufacturing and renewables sectors.
“We are delighted to welcome Narayan to the Epack family. His depth of experience in financial strategy and capital markets will be invaluable as we embark on our next phase of accelerated growth. His leadership will help us stay agile, resilient, and aligned with our long-term vision”, said Epack Group group chairman & whole-time director Bajrang Bothra.
Lodha’s appointment comes on the heels of robust year-on-year growth for Epack Group. Epack Durable is already listed, and Epack Prefab Technologies has filed its Draft Red Herring Prospectus (DRHP) in preparation for a planned IPO. In this context, Lodha’s mandate is clear: reinforce governance, optimise capital deployment, and steer financial strategy to power Epack’s ascent.
“I am excited to join Epack Group at such a dynamic time in its journey. The Group has built a solid reputation for innovation, agility, and operational excellence. I look forward to working closely with the leadership team to strengthen our financial systems, support strategic growth, and create long-term value for all stakeholders”, said Lodha.
His leadership is expected to support a sweeping transformation, as Epack Group scales its ambitions with a sharper focus on fiscal discipline and stakeholder trust.
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.
