Latest news with #ECL
Business Wire
6 hours ago
- Business
- Business Wire
Ecolab Schedules Webcast of Industry Conference for June 3, 2025
ST. PAUL, Minn.--(BUSINESS WIRE)--Christophe Beck, Ecolab's chairman and chief executive officer, will address financial analysts at the William Blair Growth Stock Conference on Tuesday, June 3, 2025. Ecolab will offer a webcast of Mr. Beck's presentation. Details for the webcast are as follows: To access the webcast, visit the Events & Presentations section of Ecolab's Investor website at and click on the webcast details. About Ecolab A trusted partner for millions of customers, Ecolab (NYSE:ECL) is a global sustainability leader offering water, hygiene and infection prevention solutions and services that protect people and the resources vital to life. Building on more than a century of innovation, Ecolab has annual sales of $16 billion, employs approximately 48,000 associates and operates in more than 170 countries around the world. The company delivers comprehensive science-based solutions, data-driven insights and world-class service to advance food safety, maintain clean and safe environments, and optimize water and energy use. Ecolab's innovative solutions improve operational efficiencies and sustainability for customers in the food, healthcare, high tech, life sciences, hospitality and industrial markets. Follow us on LinkedIn @Ecolab, Instagram @Ecolab_Inc and Facebook @Ecolab. (ECL-C)
Time of India
a day ago
- Business
- Time of India
RBI to harmonise loan income recognition rules and review lending practices
Reserve Bank of India will harmonize loan regulations. This will bring uniformity across lenders. RBI plans a review of non-fund based facilities. Liquidity stress testing will be enhanced. New guidelines will cover climate-related financial risks. A data repository for climate risk information will be launched. Draft guidelines on Expected Credit Loss are expected soon. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Reserve Bank of India (RBI) announced on Thursday that it is working to harmonize regulations on how banks recognize income and set aside provisions for loans. The central bank is also planning a review of non-fund based contingent facilities provided by RBI noted that interest rate regulations vary across lenders and is conducting a comprehensive review of these instructions to bring strengthen banking resilience, the regulator is enhancing liquidity stress testing by developing a cash flow analysis framework . This will help assess the impact of extreme but plausible scenarios on banks' liquidity positions, ensuring they can meet obligations even during crises. The new approach aims to offer a forward-looking perspective on banks' liquidity stability under adverse the growing focus on climate risks, the RBI said it will issue prudential guidelines for banks, covering climate-related financial risk disclosures, climate scenario analysis, and stress testing. The guidelines will also include principles for effective management and supervision of climate risks, a review of green deposit frameworks, and rules for sustainability-linked loans The RBI will soon launch the Reserve Bank Climate Risk Information System (RB-CRIS), a dedicated data repository for climate risk draft guidelines on the Expected Credit Loss (ECL) framework are expected shortly. The regulator also plans to strengthen supervisory frameworks for payment banks and small finance banks and move forward with implementing the final phase of Basel III norms.
Time of India
19-05-2025
- Business
- Time of India
Supreme Court allows 10% GST appeal pre-deposit via credit ledger in major relief for businesses
In a matter that will have huge implications for businesses across the country, the Supreme Court on Monday upheld a Gujarat High Court decision that allowed the companies to make mandatory 10% pre-deposit via the Electronic Credit Ledger (ECL), which contains accumulated input tax credit (ITC), for filing an appeal under the Goods and Services Tax law . Dismissing the revenue's appeal, in the case of Yasho Industries vs Union of India, a bench led by Justice B.V. Nagarathna confirmed the HC order holding the pre-deposit payments from ECL was valid and sufficient compliance under Section 107(6)(b) of the Central Goods and Services Tax (CGST) Act, 2017. Mumbai-based chemical manufacturing and export company Yasho Industries had deposited the required 10% of the disputed tax amount of Rs 3.36 crore through ECL using Form GST DRC-03, but the department refused to consider the credit ledger payment as valid. This was challenged by the company before the HC, which ruled in its favour. 'The Supreme Court's verdict is a significant win for taxpayers, especially small and medium enterprises who often struggle with cash flow constraints during litigation,' said Abhishek A Rastogi, who represented the company. 'By allowing the use of the ECL for mandatory pre-deposits, the judgment removes a major financial burden and simplifies the appellate process by removing narrow interpretation. This decision will now ensure that taxpayers are not forced to pay in cash when legitimate input tax credit is available', added Rastogi. Saurabh Agarwal, Tax Partner, EY, too echoed Rastogi's view, saying what this judgment essentially does is give a much-needed breather to industries that have been struggling with their cash flow. 'Right now, if a company is in a dispute and needs to make a pre-deposit, it often means shelling out actual cash, even if they have a good amount of GST credit lying in their credit ledger. This really leads to significant working capital blockages,' he said. 'This new ruling, by allowing them to use their existing credit to make these pre-deposits, will free up their cash. Plus, if they eventually win their case, they won't have to go through the lengthy process of claiming a refund, as the adjustment would already be within their credit ledger. It's a win-win in terms of immediate cash flow and avoiding future hassles,' he added.
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Business Standard
19-05-2025
- Business
- Business Standard
SC upholds use of input tax credit for mandatory GST appeal deposit
In the context of GST, a tax credit refers to input tax credit, or ITC, which means the credit of GST paid on purchases that a business can use to offset the GST liabilities on sales Monika Yadav In a relief for businesses, the Supreme Court on Monday ruled that taxpayers could use their electronic credit ledger (ECrL), a digital record of tax credits earned from purchases, to make advance deposits required in the case of disputes on goods and services tax (GST). In the context of GST, a tax credit refers to input tax credit, or ITC, which means the credit of GST paid on purchases that a business can use to offset the GST liabilities on sales. This overrides demands by tax authorities that only the electronic cash ledger (ECL) be used. The ECL tracks cash payments like taxes, penalties, or fees. According to experts, the ruling ends discomfort for businesses, which can preserve cash by using ECrL balances instead. The dispute began when Yasho Industries, a Mumbai-based specialty chemicals manufacturer, was asked to pay ~3.36 crore 'only in cash' (via ECL) as a pre-deposit in an appeal despite having enough credits in its ECrL. The Gujarat High Court in October upheld the company's position, citing a 2022 government circular . The Supreme Court thereafter dismissed the Revenue's appeal. While the Revenue's circular said taxpayers could use ECrL for output tax liabilities, it did not define whether pre-deposits for appeals fell in this category. The term 'output tax' typically refers to tax on outward supplies, not procedural deposits. This ambiguity allowed tax authorities to insist on ECL payments for disputes, arguing that pre-deposits were not tax liabilities but procedural mandates. While Circular No. 172/2022 clarified that taxpayers could use the ECrL for output tax liabilities, it did not explicitly define whether pre-deposits for appeals fell under this category. The term 'output tax' typically refers to taxes on outward supplies, not procedural deposits. This ambiguity allowed tax authorities to insist on payments for disputes, arguing that pre-deposits were not 'tax liabilities' but procedural mandates. The Gujarat High Court and Supreme Court, however, ruled that under the circular pre-deposits qualified as compliance with tax obligations, closing this interpretational gap. The apex court Bench, comprising Justice B V Nagarathna and Justice Satish Chandra Sharma, rejected the Revenue's special leave petition (SLP), upholding the Gujarat High Court's decision in Yasho Industries Ltd vs Union of India. 'The Supreme Court's decision will provide relief to millions of taxpayers by allowing the use of the electronic credit ledger,' said Abhishek Rastogi, founder of Rastogi Chambers, who argued for the taxpayer before the Supreme Court. 'The GST Council always intended ensuring a seamless and taxpayer-friendly mechanism for filing appeals, but a myopic interpretation by certain executive authorities had created unnecessary hurdles. This ruling rightly restores the balance.' According to Saurabh Agarwal, tax Partner, EY, this ruling, by allowing taxpayers to use their existing credit to make these pre-deposits, will free up their cash. 'If they eventually win their case (in GST disputes), they won't have to claim refunds because the adjustment would already be within their credit ledger. It's a win-win in terms of immediate cash flow and avoiding hassles,' he said.
Yahoo
15-05-2025
- Business
- Yahoo
Shree Cement Ltd (BOM:500387) Q4 2025 Earnings Call Highlights: Strong Growth in Sales and ...
Total Sales Volume: Increased to 9.84 million tonnes, up 13% from 8.67 million tonnes sequentially. Average Valuation per Tonne: Improved by 5% to INR4,768 from INR4,554 sequentially. EBITDA: INR1,383 crores, representing a growth of 47%. EBITDA per Tonne: Increased by 29% to INR1,406 from INR1,088 sequentially. Adjusted EBITDA per Tonne: INR1,437, accounting for a one-off item of INR30.66 crores. Green Energy Share: 60.2% of total energy consumption in Q4 FY25. Green Power Generation Capacity: 582 megawatts, up 21% from 480 megawatts at the beginning of FY24-25. Installed Cement Capacity: Increased to 62.8 million tonnes in India. Premium Product Sales Share: Increased from 11.9% in Q4 2024 to 15.6% in Q4 FY25. Additional Provision for ECL: INR24 crores for legal notices issued. Warning! GuruFocus has detected 8 Warning Signs with BOM:500387. Release Date: May 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Shree Cement Ltd (BOM:500387) reported a 13% increase in total India sales volume, reaching 9.84 million tonnes in Q4 FY25. The company's EBITDA for the quarter grew by 47%, with EBITDA per tonne increasing by 29% to INR1,406. The company achieved a significant milestone with 60.2% of its energy consumption coming from green energy sources, one of the highest in the industry. Shree Cement Ltd (BOM:500387) received an ESG rating of Care Edge ESG 1 with a score of 70.8%, highlighting its leadership in managing ESG risks. The company launched several premium products, increasing the share of premium product sales from 11.9% to 15.6% year-over-year. Despite the positive results, the company faces challenges with capacity utilization, which remains around 65%, indicating underutilization of its installed capacity. The company incurred a one-off cost of INR30.66 crores due to a voluntary separation scheme, impacting its financials. Shree Cement Ltd (BOM:500387) made an additional provision of INR24 crores for expected credit losses, reflecting a more conservative accounting approach. The company's strategy to focus on profitability over volume growth may limit its market share expansion in a competitive industry. There are concerns about the impact of new capacity additions on pricing and market dynamics, especially with the industry's supply overhang. Q: What is the outlook for volume growth in FY26, given the recent capacity expansions? A: Ashok Bhandari, Senior Adviser, explained that the strategy is to focus on profitability rather than volume. The company expects a volume growth of 6.5% to 7.5% for FY26, with a target of reaching 39 million tonnes. The focus will remain on balancing volume and price to maximize profitability. Q: Can you elaborate on the branding strategy and its impact on pricing? A: Neeraj Akhoury, Managing Director, stated that the company is focusing on improving brand equity through premium products and technical work in the field. The strategy is consistent across regions, aiming to enhance brand strength and improve pricing. Q: What are the plans for capacity expansion, particularly in North India? A: Neeraj Akhoury mentioned that the company is targeting Central and East UP markets with the new Ita plant. The North plants will cater to various markets, including Jammu and Kashmir, Gujarat, and West MP. The company is also exploring opportunities in Jaisalmer for future expansion. Q: How does the company plan to manage the trade-off between volume and pricing in a supply overhang scenario? A: Ashok Bhandari emphasized that the company aims to be the most profitable rather than the largest volume player. The focus is on maximizing cash profit and net profit through a strategic mix of volume and pricing, considering market conditions and competition. Q: What is the status of the RMC business, and what are the future plans? A: Neeraj Akhoury shared that the RMC division is relatively new, with about 15 plants currently operational. The company plans to expand rapidly, aiming for at least 50 RMC units. Some plants are already EBITDA positive, particularly in Mumbai and Hyderabad. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
