Brands
Veedol signs Sourav Ganguly as brand ambassador
Mumbai: Veedol, a lubricant brand from Tide Water Oil Co. (India) Ltd, has signed up cricket legend Sourav Ganguly as its brand ambassador. This partnership signifies a pivotal move for Veedol as it seeks to enhance its brand presence and solidify its market position across India.
Brand Veedol has a rich, near-century old legacy with markets in over 70 countries. Positioned internationally as the ‘Professional’s choice’, Veedol enjoys considerable saliency amongst the workshop fraternity worldwide. Respected and trusted in the industry, Veedol provides a comprehensive range of lubricants for both the Automotive Aftermarket (Retail) and Institutional (B2B) segments. With a pan India footprint, Veedol is one of India’s most prominent lubricant brands, with a consolidated revenue from operations of Rs 1931 crore as of 31 March 2024.
Veedol is a trusted brand encompassing a repertoire of excellent quality products delivered far and wide through its network of channel partners, many of whom have been engaged with the company for two generations. Honesty, transparency and enduring relationships are defining features of the Veedol way, as encapsulated in its advertising tagline ‘Rakhe Saaf, Dil Se.’
Expressing enthusiasm, Tide Water Oil Co (India) Ltd MD Arijit Basu said, “We are delighted to have a cricketing great like Sourav Ganguly join us as our brand ambassador. His leadership, grit and determination are the stuff of legend, shaping the winning attitude of Team India as we know it today. Founded on honesty and self-belief, brand Sourav continues to inspire all to raise the bar of performance and achievement, values that resonate strongly with Veedol. We are confident that this association will give us a strong impetus as we drive forward into the future.”
Commenting on the association, Sourav Ganguly said, “My association with Veedol represents a commitment to excellence, innovation and reliability. Just as Veedol stands for high-quality and performance in the automotive industry, I am dedicated to embodying these values in every aspect of my work. Together, we will strive to inspire and connect with our audience, showcasing the best of what we both have to offer.”
Comprehensive product portfolio and market presence
Veedol has a strong presence across all automotive segments, including two-wheelers, passenger cars, agri and commercial vehicles (both heavy and small). There are products across various performance specifications and price points. Traditionally strong in the two-wheeler segment with its flagship brand “Take-Off” and in agriculture with “Prima,” Veedol is increasingly expanding its presence in the passenger car (PCMO) and commercial vehicle (CV) segments.
The company has been particularly strong in upcountry and rural areas and is now intensifying its focus on urban markets. With significant equity in trade the brand enjoys a robust distribution network with 500 direct distributors and dealers servicing over 50,000 retail outlets and workshops.
Strategic initiatives and future directions
Veedol is currently undergoing a portfolio upgrade and packaging makeover to introduce a new-age look and feel while offering technically superior products. A major revamp of supply chain and digitization processes is also underway to enhance operational efficiencies and meet future customer needs.
Investing significantly in brand building, Veedol is leveraging its association with cricket, including its partnership with Kolkata Knight Riders (KKR) and the appointment of Sourav Ganguly as brand ambassador. These strategic directions underscore Veedol’s commitment to achieving high brand saliency and recall, factors that would help fuel its ambitious growth plans.
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.
