MAM
Titan’s jewellery business clocks 15% growth in festive season
New Delhi: The recently concluded festive season fared well for Titan Co. The jewellery division of the company witnessed a mid-teens growth (around 15 per cent) for the 30 day festive stretch from Dussehra till Diwali over the corresponding period last year, with a decent recovery in studded jewellery sales.
The company includes brands like Tanishq, Mia, Zoya and Caratlane in its jewellery division business.
Tanishq has over 270 stores in the country and it clocked almost Rs 18,600 crore retails sales in the last year. On the other hand, Caratlane products are available both offline and online. It is available across 90 stores in multiple Indian cities.
Interestingly, the Titan company advertised its jewellery division to invite consumers to make purchases during Diwali. It came up with multiple ads for brand Tanishq during the festive season. However, on both the occasions, the creatives were attacked by netizens and the brand had to pull back the films.
The first ad focused on promoting communal harmony, where it showcased a Hindu girl married in a Muslim family getting ready for a baby shower ceremony. The idea was extremely simple as the film was a nod to the peaceful co-existence of the two communities.
The second ad featured four actors – Neena Gupta, Nimrat Kaur, Sayani Gupta and Alaya Furniturewala – talking about their Diwali plans. One of the protagonists spoke about not bursting firecrackers, leading to certain sections of social media taking offence at her personal opinion.
In both instances, trollers pointed out that the ads had hurt Hindu sentiments.
The ads were part of a campaign to promote Tanishq’s Ekatvam range of jewellery.
Over the years, Tanishq has emerged as the biggest advertiser in the jewellery division of Titan company followed by Caratlane. The brand works with multiple endorsers across geographies to reach out to its audiences and create an appeal for its products.
Titan company in an official statement further stated that the watches and wearables business also did quite well during the festive season, with recovery close to last year levels. Eyewear business has also witnessed good traction.
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.
