MAM
KKR puts Lux Cozy deal on indefinite hold
MUMBAI: Shah Rukh Khan and his Indian Premier League (IPL) franchise Kolkata Knight Riders have decided to indefinitely put on hold their deal with Lux Cozy.
This came after protests in Kolkata over the involvement of one of the company‘s promotor’s in the suicide of a 30-year-old computer graphics teacher Rizwanur Rahman.
Lux Cozy was to get into a licensing and merchandising deal. An open letter protesting the decision has been written to Shah Rukh Khan from the city‘s prominent social activist Mudar Patherya and wife Shalini objecting to the team‘s association with Todi.
The letter noted that Shah Rukh Khan‘s brand stands for the following positive attributes: meritocracy, fairness, hard work and patriotism. However there was a dilution by his team‘s association with individuals viewed as morally suspect (until they are proved innocent). “Please reconsider this decision. There is still time,” the letter said.
At a press conference organised by Kolkata’s Konscience Keepers (KKK), a platform created to protest against the deal, Gameplan director Jeet Banerjee made a surprise entry to announce the decision to put the deal on hold. Gameplan is the event management agency handling KKR.
Banerjee said that the deal was being put on hold till all issues were resolved and the sensitivities of the aggrieved were addressed.
The frozen deal pertains to merchandising inside the stadium for home matches and around the stadium, as well as Lux branding on the players’ trousers and other advertising. Signages that were already up across the city would be taken off as soon as possible. Some fan gear T-shirts had already been produced, but future production would be stalled.
Banerjee clarified that the decision was by the KKR management, not SRK. The statement was conveyed on behalf of Lux Industries as well.
Brands
Nestlé India posts 14.9 per cent sales growth, profit rises in FY26
FMCG major sweetens returns with dividend as strong domestic demand leads
NEW DELHI: Nestlé India has reported a strong financial performance for the year ended 31 March 2026, with sales and profits rising steadily on the back of robust domestic demand.
The company posted total income of Rs 231,949.5 million for FY26, up from Rs 202,645.5 million in the previous year, marking a growth of 14.9 per cent. Domestic sales remained the key driver, increasing 14.6 per cent to Rs 221,187.0 million, while exports contributed Rs 9,527.6 million to the overall tally.
The final quarter of the financial year added extra momentum, with total sales rising 23.4 per cent compared to the same period last year. This helped lift the company’s annual profit to Rs 35,446.0 million, up from Rs 33,145.0 million in FY25.
Shareholders are set to benefit as the board has recommended a final dividend of Rs 5.00 per equity share. This comes on top of the interim dividend of Rs 7.00 per share paid in February 2026. The record date for the final dividend has been fixed as 10 July 2026, subject to shareholder approval at the 67th Annual General Meeting scheduled for 3 July 2026. If approved, the payout will begin from 30 July 2026.
During the year, the company’s paid-up equity share capital doubled to Rs 1,928.3 million following a 1:1 bonus share issue, strengthening its capital base. The results were also supported by a Rs 1,207.8 million credit from exceptional items, including a Rs 2,023.2 million writeback from resolved income tax litigation, partially offset by restructuring costs and expenses related to new labour codes.
On the cost front, material costs rose to 44.8 per cent of sales for the full year, compared to 43.6 per cent in the previous year, reflecting ongoing input cost pressures. Despite this, the company maintained solid profitability, with EBITDA coming in at Rs 53,060.6 million.
Overall, Nestlé India’s performance underscores its ability to balance growth and margins in a challenging environment. With steady demand, disciplined cost management and consistent shareholder returns, the company appears well placed to carry its momentum into the next financial year.
