Brands
Reliance Consumer’s FMCG cart keeps filling up in a fast-moving Q3
MUMBAI: The FMCG aisle is getting busier and bigger at Reliance. Speaking during the earnings call, Reliance Consumer Products executive director Ketan Mody outlined a quarter where scale, speed and portfolio expansion defined performance.
From 1 December 2025, RCPL became a direct subsidiary of Reliance Industries Limited, and the shift showed immediate impact. The FMCG business added Rs 5,000 crore in revenue in Q3, taking year-to-date revenue to Rs 15,000 crore. Daily essentials emerged as the standout, growing 1.5 times year on year, while the Independence brand crossed the Rs 1,500 crore milestone.
Beverages continued to fizz, with double-digit market shares in key markets and the energy drinks portfolio touching Rs 1,000 crore during the year. Biscuits and confectionery gained traction through new category and market launches, while home care and personal care saw improved uptake across brands such as Enzo, Get Real and Glimmer. By the end of Q3, four RCPL brands had crossed Rs 1,000 crore in annual revenue.
Detailing the breadth of the portfolio, Mody pointed to chocolates and confectionery led by Ravalgaon, Toffeeman and Lotus, alongside growing momentum in snacks, staples and edible oils, particularly in Maharashtra. New demand was also building for differentiated offerings such as Maliban wafers and teatime biscuits.
Capacity expansion is moving at pace. RCPL plans to more than double beverage capacity this year, with high-speed lines across 12 states. Food parks are under development across multiple states, with work set to begin imminently, while a beverage plant in Kurnool is scheduled to be operational by March.
The quarter also saw strategic acquisitions strengthen the portfolio. RCPL completed a majority stake acquisition in Udhaiyam, bolstering its staples and pulses presence, particularly in Tamil Nadu. Global personal care brands including Brylcreem, Toni and Guy, Badedas and Matey were added, widening RCPL’s reach beyond food into grooming and children’s care.
New categories are also on the boil. RCPL entered the pet care segment, piloted in southern cities, and relaunched SIL, alongside a fresh foray into noodles across four cities, with a wider rollout planned next quarter.
As Mody’s commentary made clear, this was not just a quarter of numbers, but one of range with Reliance Consumer steadily stacking its shelves across food, home, personal and emerging categories, and doing so at scale.
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.
