MAM
GST Bill crucial for Start-Up India, Digital India success: IAMAI
MUMBAI: Industry body – Internet and Mobile Association of India (IAMAI) has urged the Parliament to pass the crucial GST (Goods & Services Tax) Bill in the forthcoming budget session. The industry body has said that the smooth passage of GST Bill is crucial for the success of mega economic and social projects, especially Digital India and Start-Up India.
The GST Bill, which subsumes all indirect taxes to create one rate and integrate the country into a single market, is the biggest tax reform that is being undertaken since Independence, but is pending approval of the Rajya Sabha.
The Digital India plan is about connecting, empowering and enabling citizens and encouraging local electronic manufacturing. Similarly, Start-Up India is focused on promoting entrepreneurship, and through small entrepreneurs, generating employment.
Local manufacturing, NoFN, e-Gov, as a part of Digital India, where private sector is involved, crucially rests on the successful passage of GST Bill in Parliament, which seeks to create one market through one tax system. Similarly, start-ups, online market places, and other online service providers, all require a single market plan.
IAMAI president Subho Ray said, “The extant tax structure of India is heavily fragmented, with multiple indirect taxes levied by different authorities at different stages of a transaction. Fiscal federalism has led to different procedures and rates of VAT and other forms of LBTs across the states. This creates logistical challenges for the industry, besides giving rise to compliance related complications. Conflict of interests between tax authorities in case of inter-state transaction is a major pain point for the industry today. GST will help the digital industry business model flourish by providing uniformity in tax rates and regulations across the country. This will help doing business in India easier, allow free-play to market dynamics and allow deeper penetration of these services.”
Given that much of the developments in the digital industry are disruptive innovations, business models like online platforms, aggregators, etc are essentially services provided by intermediaries. Such services are revolutionising the existing markets of both goods and services. Thus, online ticketing services or e-tailing are providing newer modes of access for consumers to existing goods and services, said IAMAI.
The digital industry unequivocally stands for the smooth passage of GST and hopes that the bill will be passed in the upcoming budget session, as any further delay will push back the transformative projects of the government.
Brands
Sapphire Foods FY26 revenue rises to Rs 3,125 crore, posts loss
Q4 revenue at Rs 792 crore, FY26 loss at Rs 32 crore amid cost pressures.
MUMBAI: If growth is on the menu, profitability seems to have taken a brief detour. Sapphire Foods India reported a steady rise in topline for FY26, even as rising costs weighed on profitability. Revenue from operations grew to Rs 3,125 crore for the year ended March 31, 2026, up from Rs 2,882 crore in FY25. However, the company swung to a loss, reporting a net loss of Rs 32 crore for FY26, compared to a profit of Rs 17 crore in the previous year. Total income for the year stood at Rs 3,153 crore, while total expenses climbed to Rs 3,167 crore, reflecting pressure across key cost heads.
In the March quarter, revenue came in at Rs 792 crore, compared to Rs 711 crore in the same period last year. The company reported a quarterly net loss of Rs 13 crore, against a profit of Rs 2 crore a year earlier.
Cost pressures remained visible across operations. Material costs rose to Rs 995 crore for FY26, while employee expenses increased to Rs 428 crore. Other expenses, the largest component, stood at Rs 1,229 crore, underscoring the impact of store operations and expansion-related spends.
Depreciation and amortisation expenses also climbed to Rs 392 crore for the year, reflecting continued investments in store infrastructure and growth.
At the operating level, the company reported a loss before tax of Rs 37 crore for FY26, compared to a profit of Rs 23 crore in FY25. Exceptional items added Rs 24 crore to the cost burden during the year.
On the balance sheet, total assets rose to Rs 3,256 crore as of March 31, 2026, up from Rs 3,041 crore a year earlier, indicating ongoing expansion. Net worth stood at Rs 1,389 crore.
Despite profitability pressures, operating cash flow remained resilient at Rs 507 crore, highlighting underlying business strength and demand stability.
The numbers paint a familiar picture in the quick-service restaurant space, growth continues to be served hot, but margins are still finding their footing.
