MAM
Rajasthan Royals eyes 20% growth on back of UltraTech Cement sponsorship deal
MUMBAI: Rajasthan Royals is targeting a 15-20 per cent revenue growth this year on the back of its sponsorship deal with UltraTech Cement.
The IPL franchise‘s strategy is to first stitch the big deals before spreading out as it will help them get better rates in a slowdown economy.
Says Rajasthan Royals chief executive officer Raghu Iyer, “The Ultratech Cement deal accounts for around 30-35 per cent of our sponsorship revenue.The key is to get the big deals in place. Then the smaller deals will happen.”
Rajasthan Royals earlier announced it had roped in UltraTech Cement, part of the Aditya Birla group, as its Principal Team Sponsor for the fifth season of the IPL.
According to Ultratech Cement joint executive president Shashank Awasthi, the company’s marketing budget will be similar to that of last year‘s. “70 per cent of the marketing spend goes towards below the line activities. The deal with the Rajasthan Royals has over the years helped build relationships with our dealer network and customers.”
Ultratech Cement will launch contests and hold ‘meet and greet‘ meetings with the stars for their dealers and customers. The company also supports cricket at the grassroots level.
Rajasthan Royal‘s associate sponsors are Kingfisher, HDFC Life, Supertech, Arihant Superstructures and Puma.
“The Kingfisher deal accounts for 10-15 per cent of our sponsorship revenue,” says Iyer.
The majority owner of Emerging Media Sporting Holdings, the company that owns Rajasthan Royals, is Tresco International Ltd (Suresh Chellaram Family) with a 44.2 per cent stake. The other shareholders are Emerging Media Ltd (Manoj Badale – 32.4%), Blue Water Estate Ltd (Lachlan Murdoch – 11.7%) and Kuki Investments Ltd ( Raj Kundra & Family – 11.7%), according to the disclosures made by the company.
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UltraTech Cement is principal team sponsor of Rajasthan Royals
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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.
