Brands
Tata Consumer Products faces Rs 98 crore tax demand
Income tax authorities raise significant demand for the 2022-23 financial year
MUMBAI: Tata Consumer Products Limited has received an assessment order from the income tax department involving a substantial financial demand. The order, issued by the assistant commissioner of income tax in Kolkata, was received by the company on 13 March 2026. It follows an audit of the income tax returns filed for the 2022-23 financial year, during which the assessing officer made specific additions and disallowances to the company’s reported income.
The total demand raised by the authorities amounts to Rs 98,03,33,930, a figure that includes both the principal tax amount and accrued interest. This disclosure was made by the company’s company secretary & compliance officer, delnaz dara harda, in a formal filing to the National Stock Exchange and BSE Limited on 14 March 2026. The filing was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
In response to the order, Tata Consumer Products has stated that it believes the demand is not maintainable under current law. The management has confirmed that the company is currently in the process of filing an appeal against the assessment. Furthermore, the company clarified that there is no immediate impact on its current financial standing, operations, or other corporate activities resulting from this specific order.
Brands
Domino’s Q1 profit falls 6.6 per cent, announces $1 billion buyback
Sales rise 3.4 per cent as pizza giant balances growth and shareholder returns
NEW YORK: Domino’s reported a mixed start to 2026, with first-quarter net income slipping even as global sales and store expansion held steady. The company also announced a fresh $1 billion share buyback, underlining its continued focus on shareholder returns.
Global retail sales rose 3.4 per cent on a constant-currency basis to $4.74 billion. The US remained a key growth engine, with same-store sales inching up 0.9 per cent, supported by a 1.5 per cent rise at company-owned outlets.
International markets, however, painted a more uneven picture. While Domino’s added 161 net new stores overseas during the quarter, international same-store sales declined 0.4 per cent. Overall revenues still climbed 3.5 per cent to $1.15 billion, driven by higher supply chain revenues and a 2.6 per cent increase in food basket pricing for franchisees.
On the profitability front, net income fell 6.6 per cent to $139.8 million, compared to $149.7 million a year earlier. Diluted earnings per share dropped to $4.13 from $4.33. The decline was largely attributed to a $30 million unfavourable swing in unrealised gains linked to its investment in DPC Dash Ltd.
Despite this, operational performance showed resilience. Income from operations rose 9.6 per cent to $230.4 million, supported in part by a $7.8 million pre-tax gain from the sale of a corporate aircraft.
Domino’s footprint continued to expand, with the company ending the quarter at 22,322 stores across more than 90 markets. In the US, digital orders remained dominant, accounting for over 85 per cent of retail sales in 2025.
The company also maintained its dividend payout, declaring $1.99 per share, payable on 30 June 2026. After repurchasing $75.1 million worth of stock during the quarter, the new authorisation lifts the total available for buybacks to $1.29 billion.
Domino’s chief executive officer Russell Weiner said the company’s scale and store-level economics position it well to capture further market share in 2026, even as competition intensifies.
As Domino’s leans into expansion and capital returns, the latest results show a business managing short-term pressures while keeping its long-term growth strategy firmly in play.
