MAM
ESPN Star Sports to rake in Rs 1.5 bn from India-England series
MUMBAI: ESPN Star Sports (ESS) has the potential to rake in Rs 1.5 billion as advertising revenue from the upcoming India-England cricket series, according to a preliminary estimate made by Indiantelevision.com.
The official broadcaster of the series has roped in Maruti, Nokia, Seagrams and Tata DoCoMo as sponsors, according to sources. ESS is said to be looking for eight sponsors.
An ESS spokesperson declined to comment, saying that discussions with sponsors are on.
ESS is looking at Rs 375,000 per spot for the Twenty20 International, Rs 275,000-300,000 for the ODIs and Rs 50,000 for the Test matches, sources said. Sponsorship outlays are ranging from Rs 90 million-150 million.
India and England play four Test matches, five ODIs and one Twenty20 International.
“The series is generating positive sentiments. Interest will revive in cricket given that this is the first time a full-strength Indian team is playing since the World Cup,” said Madison Media Group CEO Punitha Arumugam.
The India-West Indies series has drawn in weaker audiences due to the absence of stars like Sachin Tendulkar and Chris Gayle in the tournament. Ten Cricket, the broadcaster of the series, will be able to fetch under Rs 500 million as advertising revenue, sources said.
Ten Sports executives did not want to comment on the revenue that the India-West Indies series would generate.
“After the World Cup, India is playing its first big series and the timings are good. By beating Australia and retaining the Ashes, England’s worth as a team has grown. A full- strength Indian team will also be taking part,” a media analyst said.
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.
