MAM
Multi Screen Media ropes in early sponsors for IPL at 10% higher rates
MUMBAI: Aiming at growth in a slowing economy, Multi Screen Media (MSM) has roped in early sponsors for the IPL at rates that are 10 per cent higher than the previous year.
Vodafone, Pepsi, Tata Photon and Idea are the four advertisers who have returned, indicating faith in the Indian Premier League (IPL) despite the brand value of some of the Indian cricketing icons being eroded due to their poor performance in Australia.
Co-presenting sponsors are coughing out around Rs 680-700 million and associate sponsors Rs 480 million each, according to sources.
The fifth edition of the IPL is obviously gaining from a lean cricketing calendar year. The cricket World Cup was also there last year, just preceding the IPL.
According to a media buyer, telecom companies are looking at this event in a big way this year. “Last year, you had the cricket World Cup just before the IPL which affected interest. This year there is no such issue. The Asia Cup which takes place just before the IPL is a much smaller event,” he explains.
The IPL that kicks off on 4 April will still have to counter a tough economy when companies are cutting down on their ad spends. While not revealing any client names or targets, MSM president networks sales, licensing and telephony Rohit Gupta is hopeful of managing some sort of growth. At the same time, he concedes that it is a challenge managing to do this level of revenue.
The IPL, which saw a dip in ratings last year, will be marketed heavily this year. Says Gupta, “At the franchisee meeting in Goa, the stakeholders were clear that there is a need to push up the ratings. You will definitely see more buzz around the event. A bigger push will be made compared to last year, not just by Max but by all the stakeholders. With no World Cup, the IPL will also have have a clearer run this year.”
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â 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.
