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India.com
6 minutes ago
- India.com
'Feels like a nightmare...' Sunjay Kapur's sister breaks silence on Rs 30000 crore family feud, 'We are being told to...'
'Feels like a nightmare...' Sunjay Kapur's sister breaks silence on Rs 30000 crore family feud, 'We are being told to...' Amid ongoing family dispute, Mandhira Kapur- sister of the late Sona Comstar Chairman Sunjay J Kapur, has broken her silence on the feud over his brother's Rs 30000 crore property. Months after their mother, Rani Kapur, firmly declared herself as the rightful heir in Sona Comstar, the mobile tech company, Mahindra affirmed her support for her 80-year-old-mother to get control of the family's wealth and inheritance. The dispute within the family intensified after the death of Sunjay Kapur in London, which his mother, Rani Kapur, has described as 'mysterious.' She also alleged that she was pressured into signing documents approving the appointment of her daughter-in-law, Priya Sachdev Kapur, as a non-executive director. 'I think it's a little harsh on my mom to send her this letter saying she has nothing to do with the company she built. She's 80. How about just respecting the fact that her husband and she made this?' Mandhira Kapur told in an interaction with NDTV. She also addressed the suggestion Priya gave to Sunjay's mother to move in their Delhi house. Calling it 'impractical' at the moment, Mahindra explained, 'I think right now it's very tough for mum even to go to that house. It is one thing that she got through after dad died, and to go back there with her son gone, it is going to be very hard for her to walk into that house. She's not emotionally ready to face the fact that she has lost her son… Our life has been one big shock. And, you know, it feels like a nightmare which we want to wake up from.' While talking to ANI, Mahindra said that her mother, who stood alongside her father through thick and thin in expanding the company, has now been sidelined. She said, 'We are treated like strangers and outsiders. We're not. We're the ones who've done this. This entire thing is done by my father…So, how is everyone taking credit and taking everything out of it? My mother, who is alive, has not got anything to do with it. My sister and I are being told basically to go to hell. I mean, we were not put on any obituary. We were not put on anything… You can try to take it away from us, but it's in our blood.'
News18
15 minutes ago
- News18
Consumer durable companies faced a downward trend in FY26: Report
New Delhi [India], August 18 (ANI): Consumer durables companies faced a tough first quarter of FY26 as weak demand for summer products weighed heavily on sales, according to a Union Bank of India Research report. The early onset of monsoon cut short the summer season, hitting the demand for cooling appliances like room air conditioners and air coolers, which saw more than 30 per cent year-on-year (YoY) decline in sales. Fans and refrigerators also recorded double-digit report noted that the combined revenue of companies under coverage stood flat year-on-year at Rs. 273 billion. Within this, electrical firms performed better, posting a 4 per cent rise in sales to Rs. 166 billion, while durable firms witnessed an 8 per cent decline with sales dropping to Rs. 107 product categories, wires and cables registered strong double-digit growth driven by infrastructure demand and stocking by trade amid rising copper prices. Moderate growth was also seen in switchgears, water heaters and small appliances like mixer grinders and induction cooktops. Lighting, particularly in the B2B segment, sustained momentum, with LED price erosion showing signs of the company front, Polycab emerged as the standout performer with 26 per cent revenue growth led by a 31 per cent rise in wires and cables and an 18 per cent jump in its FMEG segment. In contrast, companies more dependent on summer products struggled. Voltas' sales fell 20 per cent owing to a 25 per cent decline in unitary cooling products, while Crompton and Havells recorded revenue falls of 7 per cent and 6 per cent respectively. Havells' Lloyd brand suffered a steep 34 per cent were another area of concern. Despite seven of ten companies improving gross margins thanks to cost-control measures and better product mix, EBITDA margins contracted for the overall coverage universe. The report highlighted that while electrical firms posted a modest 27 basis points rise in EBITDA margin to 10.6 per cent, durable firms saw a sharp 215 basis points decline to 6.1 per cent. Operating de-leverage and lower fixed cost absorption were key reasons behind this margin research observed that Polycab again led in profitability, expanding its EBITDA margin by 210 basis points to 14.5 per cent. Whirlpool managed a marginal improvement, while most other players, including Voltas, Havells and Crompton, saw a contraction in margins ranging between 160 and 400 basis points. (ANI)
News18
15 minutes ago
- News18
GST rationalisation to boost consumer sentiment and drive demand: Report
New Delhi [India], August 18 (ANI): The government's recent decision to rationalise Goods and Services Tax (GST) rates is likely to ramp up domestic demand and lift consumer sentiment, according to a report by Centrum Institutional report highlighted that the reforms will focus on rationalising GST rates for essentials and daily-use it said, would have multiple benefits including improving consumer confidence, spurring demand through volume pick-up, narrowing the pricing gap between large organised players and smaller unorganised will also improve market penetration through low-priced SKUs that increase accessibility in rural markets, and encouraging premiumisation in the stated, 'We believe, the move will lead to improving consumer sentiment, spurring demand".The report also pointed out that the demand recovery for consumer companies had been delayed over the last one and a half years due to macroeconomic challenges and persistent inflationary in the first quarter, volumes showed a sequential pick-up and company commentary on demand was more optimistic compared with earlier report said most consumer companies were already depending on the upcoming festive season to drive demand, and the GST announcement would further strengthen this positive with improving macroeconomic conditions, the reduction in GST on essentials is expected to drive government initiatives such as MNREGA and tax cuts, which increase disposable income, will also support demand the lower price point of Rs 5-10, the pricing will remain the same, but grammages will increase, leading to higher volume growth. At higher price points, companies will have the option to either increase grammage or cut the maximum retail price (MRP).As per reports, the 12 per cent tax slab will be abolished, and a majority of items will now come under the 5 per cent GST rate. These items include tooth powder, packaged snacks such as bhujia, namkeen and potato chips, ketchup, jam, mayonnaise, packaged juices, noodles, pasta, and dairy-based products like butter, condensed milk, ghee, cheese and milk-based report outlined that the GST cuts further strengthen the thesis of demand recovery and volume pick-up in the coming quarters after several quarters of muted growth. (ANI)
