Heinz Deal
Zydus Wellness arm gets Rs 56.33 cr GST demand over Heinz IP rights deal
Zydus Wellness Ltd on Saturday said its wholly-owned arm has received a GST demand of Rs 56.33 crore, along with applicable interest and penalty from the tax authority. Zydus Wellness Products Ltd (ZWPL), a wholly-owned subsidiary company, has received an intimation from the Directorate General of Goods and Services Tax Intelligence, Surat Zonal Unit, alleging GST demand of Rs 56.33 crore, along with applicable interest and penalty, Zydus Wellness Ltd said in a regulatory filing. The intimation alleges that the GST was payable in relation to the acquisition of intellectual property rights from Heinz Italia S.P.A. by Heinz India Pvt Ltd, now merged with ZWPL, it added. "ZWPL believes that there is a strong merit in the case, and ZWPL is evaluating the next steps based on a detailed review of the intimation," the filing said. The period covered by the order relates to the pre-acquisition period prior to January 30, 2019, the filing said. Due to this order, there is no impact on ...
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Zydus Wellness gets a Complan boost, Sourav Ganguly's star power for brands
Over a year since the company acquired Complan, Glucon-D and Nycil, it is redrawing the marketing formula around its newly acquired brands
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Heinz deal to weigh on Zydus Wellness' near-term financials, say analysts
Analysts expect equity dilution, lower margins and increased interest costs to restrict earnings
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