MAM
M&M leads the Indian auto-pack with record-breaking 674 patents in FY24
Mumbai: Mahindra & Mahindra [M&M], the automotive and farm equipment flagship of the Mahindra Group, has received a record 674 patents in FY24, the most of any Indian four-wheeler automobile/farm equipment manufacturer. This is a 380 per cent increase in the number of patents issued to M&M over FY23.
M&M is constantly pushing the boundaries of innovation by investing in research and the use of cutting-edge technology. Our strategy of prioritizing R&D has helped us to come up with futuristic automotive brands with world-class features. We firmly believe that by staying at the forefront of technology, we can deliver the loftiest expectations of our customers.
So far, we have been conferred 1185 patents across multiple geographies, and we currently have 193 applications awaiting patent approval, as of 31 March 2024. Cumulatively, we have filed 2212 patent applications to date. The patent portfolio also includes fillings of M&M’s subsidiary, Mahindra Electric Automobile Ltd. In addition to our patents, we have also got 115 designs registered and 178 new applications filed. This record-breaking achievement is a testament to our cutting-edge research prowess.
Speaking about the achievement, Mahindra & Mahindra ED & CEO [auto & farm sectors] Rajesh Jejurikar said: “We are constantly working to push the frontiers of what is possible in the automobile and farm equipment segments. Our relentless pursuit of cutting-edge technologies has enabled us to create the safest and most advanced products and positioned us as a true innovator in the industry. We understand the importance of being future-ready; therefore, we have made significant R&D investments to ensure that we stay ahead of the curve in terms of technology and talent.”
M&M’s patent portfolio covers a range of critical functions, such as powertrain (ICE & EV), vehicle mechanical systems, electronics, manufacturing processes, electric tractors, and advanced engineering, among others. These patents have led to pioneering new technologies that have redefined the automotive and tractor segments, creating the safest and most cutting-edge customer experiences.
Our investment in the development of these technologies has been in areas related to innovation, customer experience, and safety. This includes active safety systems, advanced driver assistance systems, advanced automotive electronics, lightweight technologies, enhanced vehicle dynamics, connected vehicle technologies, high-precision hydraulics, smart combine harvesters, smart connected implements, and hill farming, among others.
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.
