Latest news with #Karnani
India Today
12 hours ago
- Business
- India Today
GST Council meeting: What to expect from upcoming meet?
The 56th meeting of the Goods and Services Tax (GST) Council is expected to be held in the last week of June or early July, ahead of the Monsoon Session of meeting is likely to take up several important matters, including some long-standing demands from industry groups and state of the major items on the agenda could be the future of the Compensation Cess. Originally introduced to help states cover revenue shortfalls after the launch of GST, the cess may continue beyond its planned to experts, states are still facing revenue pressure and have requested an extension of the cess. 'While this extension provides financial certainty to states, it also means that businesses and consumers will continue to bear the extra cost,' said Shivashish Karnani from DPNC Global's GST added that the Council must also lay out a time-bound plan to eventually phase out the cess, once GST revenues OF 12% GST RATEAnother key expectation from the upcoming meeting is the possible removal of the 12% tax slab. This step would be part of the broader effort to simplify the GST rate structure. Experts believe this move could help reduce confusion for businesses and make compliance easier. However, the decision comes with its own set of challenges.'This would be a big step towards GST rate rationalisation,' said Karnani. 'The main concern will be to decide whether to move current 12% items to 5% or 18%. Lowering them to 5% may reduce government income, while raising them to 18% could affect consumers.' The Council will have to strike a careful balance between revenue needs and simplicity in tax ON INTERMEDIARY SERVICESThe GST treatment of intermediary services, especially those dealing with foreign clients, is another area where businesses are hoping for clarity. Many service providers have long argued that they should be treated as exporters and not taxed in India. This has led to ongoing disputes between companies and tax authorities.'There is hope that the GST Council will finally address the issue of intermediary services,' said Karthik Mani, Partner – Indirect Tax, BDO India. 'If these services are treated as exports and made zero-rated, it will not only boost the services sector but also bring an end to the many legal battles happening in courts.' However, he noted that proper foreign exchange must be realised for companies to claim these APPELLATE TRIBUNALBusinesses are also looking forward to an update on the setting up of the GST Appellate Tribunal (GSTAT). Currently, companies have to go to High Courts for appeals because the tribunal has not yet started operations.'This is causing a build-up of pending cases in courts,' said Mani. 'It is important that the GST Council checks the progress on the tribunal and takes steps to make it operational soon.'POSSIBLE RATE CHANGES AND OTHER DECISIONSExperts also expect the Council to review GST rates on several goods and services. These include drones, life and health insurance premiums, and the fees collected by municipalities for services such as Floor Space Index (FSI) approval. Food delivery apps may also come under the scanner for the way they collect and pay GST.'Rate rationalisation on these items is one of the key areas where decisions are expected,' said Mani. 'We may also get clarity on whether the charges collected by local authorities fall under the GST framework.'GST REGISTRATION NORMSThere is also talk of aligning state-level GST registration processes with the Central Board of Indirect Taxes and Customs (CBIC)'s streamlined system. Businesses operating in more than one state often face delays and rejections due to different rules in each state.'If all states follow a common standard for GST registration, it would make things much easier for businesses,' said Karnani. 'It would speed up registration and allow for smoother operations across India.'The previous GST Council meeting took place on December 21, 2024, in Jaisalmer. Since then, many matters have remained pending. Industry groups and tax experts now hope that the upcoming meeting will lead to action on several of these long-standing the final agenda of the 56th meeting has not been released yet, the discussions are expected to play a big role in shaping the future of India's indirect tax system. - Ends advertisement
Yahoo
10-06-2025
- Business
- Yahoo
COLL Q1 Earnings Call: ADHD Portfolio Drives Growth, Management Details Capital Deployment Priorities
Pharmaceutical company Collegium Pharmaceutical (NASDAQ:COLL) reported Q1 CY2025 results topping the market's revenue expectations , with sales up 22.7% year on year to $177.8 million. The company expects the full year's revenue to be around $742.5 million, close to analysts' estimates. Its non-GAAP profit of $1.49 per share was 2.8% above analysts' consensus estimates. Is now the time to buy COLL? Find out in our full research report (it's free). Revenue: $177.8 million vs analyst estimates of $172.8 million (22.7% year-on-year growth, 2.9% beat) Adjusted EPS: $1.49 vs analyst estimates of $1.45 (2.8% beat) Adjusted EBITDA: $95.15 million vs analyst estimates of $96.5 million (53.5% margin, 1.4% miss) The company reconfirmed its revenue guidance for the full year of $742.5 million at the midpoint EBITDA guidance for the full year is $442.5 million at the midpoint, above analyst estimates of $438.5 million Operating Margin: 12.2%, down from 34.1% in the same quarter last year Market Capitalization: $978.4 million Collegium Pharmaceutical's first quarter performance was driven by continued momentum in its newly acquired ADHD treatment Jornay PM, alongside stable contributions from its established pain management portfolio. On the call, CEO Vikram Karnani highlighted that Jornay PM delivered 24% year-over-year prescription growth and now accounts for a growing share of the company's overall revenue. Karnani credited targeted sales force expansion and increased prescriber engagement as keys to this performance, stating, 'We recently completed the expansion of our Jornay sales force, adding approximately 55 new sales representatives… now fully trained, deployed and focused on accelerating further prescription growth.' The pain portfolio, including Belbuca, Xtampza ER, and Nucynta, provided steady revenue and cash flow, allowing for continued investment in growth initiatives. Looking ahead, management's guidance is anchored by expectations for continued growth from Jornay PM, with investments in sales and marketing expected to drive prescription gains through 2025 and beyond. Karnani emphasized, 'Our targeted investments throughout 2025, including our expanded sales force and marketing efforts, position Jornay for both near-term growth and significant momentum in 2026 and beyond.' CFO Colleen Tupper noted that operating expenses will remain elevated as the company supports these initiatives but anticipates a downward trend in spending during the second half of the year. The team also pointed to durable cash flows from the pain portfolio, a disciplined approach to business development, and opportunistic share repurchases as key levers supporting future performance and shareholder value. Management attributed the quarter's results to rapid prescription growth for Jornay PM, ongoing durability in pain products, and investments in commercial capabilities. Several leadership and board changes were also highlighted as positioning the company for future growth. Jornay PM prescription surge: The ADHD medicine Jornay PM saw 24% year-over-year prescription growth, with net revenue reaching $28.5 million. Management linked this performance to an expanded and fully trained sales force and increased prescriber engagement. Pain portfolio stability: The legacy pain management products—Belbuca, Xtampza ER, and Nucynta—delivered low-single-digit revenue growth. Despite a declining overall pain market, these products continued to provide a reliable financial foundation, supported by recent extensions of market exclusivity for certain drugs. Sales force investment: The ADHD-focused sales force was expanded by 55 representatives, now totaling 180, allowing Collegium to increase its healthcare provider targets from 17,000 to 21,000. Management expects the full impact of this increase to be realized in late 2025 and into 2026. Leadership and board transitions: The company announced several changes, including the retirement of founder Michael Heffernan as Chairman, nomination of Gino Santini as Chairman, and the addition of new executive leaders to bolster strategic and commercial capabilities. Capital allocation priorities: Management highlighted ongoing investments in Jornay, rapid debt repayment, and the initiation of a $25 million accelerated share repurchase program as core elements of its capital deployment strategy. Collegium's outlook relies on continued expansion of Jornay PM in ADHD, disciplined investment in commercial activities, and maintaining stable returns from its pain portfolio. Jornay growth initiatives: Management expects prescription growth from Jornay PM to accelerate as the expanded sales force reaches more providers and new marketing campaigns target patients and caregivers, particularly around the back-to-school season. The company believes these efforts will lay the groundwork for sustained revenue momentum into 2026. Pain portfolio durability: Despite broader market declines, Collegium anticipates ongoing stable cash flows from its pain products due to product differentiation, market exclusivity, and a strong prescriber base. Management views these products as supporting continued investment and potential business development. Capital deployment flexibility: Management is committed to allocating capital between organic growth, opportunistic acquisitions, and share repurchases. The leadership team indicated willingness to increase leverage for the right acquisition opportunity, supported by strong operating cash flow and a declining net debt ratio. Looking ahead, the StockStory team will be tracking (1) the effectiveness of the expanded Jornay PM sales force and marketing campaigns, especially during the seasonally important back-to-school period; (2) resilience of the pain portfolio as market exclusivities extend and generic pressures mount; and (3) progress on capital deployment, including potential acquisitions and execution of the accelerated share repurchase program. The trajectory of operating expenses as investments scale will also be a key area of focus. Collegium Pharmaceutical currently trades at a forward P/E ratio of 4.2×. Is the company at an inflection point that warrants a buy or sell? Find out in our full research report (it's free). Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today.
Time of India
18-05-2025
- Time of India
SOG nabs drug trafficking fugitive after hunt for 4 yrs
Jaipur: Special Operations Group (SOG) of Rajasthan Police Sunday arrested a wanted fugitive in connection with multiple drug trafficking cases across the state. ADG (SOG) VK Singh identified the accused as Sushil Karnani, 42, a resident of Ajmer. Tired of too many ads? go ad free now He was arrested following a four-year pursuit linked to three cases registered under the Narcotic Drugs and Psychotropic Substances (NDPS) Act. According to Singh, Karnani was absconding since 2021 and was named in a case lodged in Ajmer. "The arrest came after a covert operation led by DIG (SOG) Paris Deshmukh and SP (Anti-Narcotics)," Singh said, adding that the team tracked Karnani through Ghaziabad, Delhi, and the Northeast—including Tinsukia, Jorhat, and Dimapur. He reportedly fled to Nepal, prompting the team to expand its operations to Kathmandu. Karnani was eventually apprehended near the Raxaul border. Investigators revealed that Karnani floated a fictitious pharmaceutical company, , in Dimapur, Nagaland. He sourced banned drugs such as Tramadol and Alprazolam from Dehradun and distributed them illegally to firms in Jaipur and Ajmer via warehouses located in Alwargate and Ramganj. Officials said his arrest delivered a significant blow to drug trafficking networks operating in Rajasthan.
The Hindu
09-05-2025
- The Hindu
CBI searches 11 locations in Gujarat, Rajasthan, in alleged corruption case against IRS officer
'The Central Bureau of Investigation (CBI) on Thursday (May 8, 2025) conducted searches at 11 locations in Gujarat and Rajasthan in connection with an alleged corruption case against 2005-batch Indian Revenue Service (IRS) officer Santosh Karnani,' officials said. 'The agency conducted the searches on 11 premises linked to Karnani, who is already facing probe for allegedly seeking bribes from a builder, his associates, and family members in Gandhinagar, Ahmedabad, and Jaipur,' they said. 'The CBI booked Karnani, who was earlier posted as additional commissioner of income tax in Ahmedabad, and his wife under the Prevention of Corruption Act for allegedly amassing assets disproportionate to his known sources of income,' the officials said. "It has been alleged that the accused intentionally enriched himself illicitly and has been found in possession of pecuniary resources disproportionate to his known sources of income," the CBI said in a statement. The agency alleged that the accused's wife, Arti Karnani, abetted the acquisition of disproportionate assets to the tune of more than ₹1.31 crore, which was 156.24% above the known and legal sources of his income. "It was further alleged that the accused invested huge amount of ill-gotten funds in acquiring properties in Jaipur, Ahmedabad, Gandhinagar and Mumbai," the statement said.
Time of India
08-05-2025
- Time of India
CBI searches premises owned by IRS officer accused in DA case
Ahmedabad: The Central Bureau of Investigation ( CBI ) on Thursday carried out searches at 11 locations in Jaipur, Ahmedabad, and Gandhinagar in connection with a case of disproportionate assets (DA) registered against 2005-batch Indian Revenue Service (IRS) officer and former additional commissioner of the income tax , Santosh Karnani , and his wife, Aarti searches were conducted at the residential and office premises of the accused officer and his associates. The CBI alleged that Santosh Karnani illicitly enriched himself and acquired assets disproportionate to his known sources of income. It is also alleged that his wife actively abetted the purchase of these to the CBI FIR, the couple was accused of possessing unexplained assets worth Rs 1.31 crore, which amounts to 156.24% more than their declared legal income. Investigators allege that the ill-gotten funds were invested in properties across Jaipur, Ahmedabad, Gandhinagar, and ongoing operation includes the search and seizure of incriminating documents and digital devices from the premises linked to the accused. As of now, several such items have been seized, and searches are continuing, the central agency officials stated that the action was part of a detailed investigation into the alleged financial irregularities and asset accumulation. The agency is also examining financial transactions and property records to identify further leads in the Karnani's name first surfaced in Oct 2022 when a Gujarat Anti-Corruption Bureau (ACB) team raided his office at the income tax department premises on Ashram Road in Ahmedabad. Karnani escaped after creating a ruckus during the trap proceedings. Later, the CBI took over the case from the Sep 2023, CBI filed one more FIR against Karnani about taking a bribe of Rs 30 lakh and allegedly sharing confidential information with a builder to help him win a case in the Income Tax Appellate Tribunal (ITAT) in return for land at a heavily discounted the inquiry, it was found that Karnani also grew his income illicitly, after which a probe into the DA case began.
