Wednesday, September 02
Mahindra & Mahindra plans to stick to its strategy of offering premium and differentiated vehicles, comprising internal combustion engine-powered SUVs and electric vehicles, in order to further strengthen its presence in the domestic passenger vehicle segment, according to a top company executive. The Mumbai-based auto major has no immediate plans to introduce CNG and other alternate fuel technologies in its product range as it wants to stick to its core brand identity and cater to a customer base which seeks differentiated products. "Our focus has been ICE and electric, and we are fairly growing in these areas. In our personal vehicle portfolio, the customers want to have differentiated products; they do not want to be in the mass market," Mahindra & Mahindra President - Automotiv
Dalmia Cement (Bharat) Ltd (DCBL), a wholly-owned subsidiary of Dalmia Bharat, has received two show cause notices totalling Rs 266.3 crore from the Sales Tax Office.The notices are "issued under section 74 of the Central GST/Tamil Nadu GST Act 2017 for AY 2019-20 and AY 2022-23, the concerned Sales Tax Officer, Lalgudi, Tiruchirapalli, Tamil Nadu," according to a regulatory filing from Dalmia Bharat.For Assessment Year 2019-20, the authorities demanded a tax of Rs 128.39 crore along with a penalty of Rs 19.25 crore.For 2022-23, the show-cause notice has demanded a tax of Rs 59.32 crore, along with a penalty of the same amount.This pertains to some differences observed in taxable turnover and amount of ITC (input tax credit) for the assessment years 2019-20 and 2022-23, it said."The Orders
Newly listed eyewear retailer Lenskart reported a 21% year-on-year increase in operating revenue to ₹2,096 crore for July-September in its first quarterly results as a public company.The improvement in operating performance led to a 20% increase in net profit to ₹103 crore. The Gurgaon-based company reported earnings before interest, taxes, depreciation and amortisation (Ebitda) of ₹414 crore for the second quarter of this financial year, 44% higher than ₹287 crore a year ago.Almost 59% of the revenue came from its India operations, with overseas markets such as Singapore, Thailand and Japan accounting for the rest.The company debuted on the bourses on November 10 after a ₹7,278-crore initial public offering, through which it raised ₹2,150 crore in primary capital.In a letter t
