Jubilant FoodWorks Limited has announced a key change in its senior management with the resignation of Mr. Gaurav Pande, Executive Vice President and Head, Corporate Strategy. The company informed stock exchanges about this development through a regulatory filing dated March 21, 2026.

Resignation Details

Mr. Pande, who holds the position of Senior Managerial Personnel at Jubilant FoodWorks, submitted his resignation via email on March 19, 2026. His departure from the company will be effective from the close of business hours on March 31, 2026.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was made to both major stock exchanges where Jubilant FoodWorks shares are listed.

In his resignation communication to the management, Pande expressed gratitude for the support extended during his tenure and wished the company success in its future endeavors. The company has also disseminated this information on its official website under the Investor Relations section, ensuring transparency with stakeholders.

Management Transition

As Executive Vice President and Head of Corporate Strategy, Pande's role involved strategic planning and corporate development initiatives. His departure represents a notable change in the senior management structure of the food services company. The resignation comes as Pande seeks to pursue opportunities outside the organization, marking the end of his tenure in the strategic leadership position at Jubilant FoodWorks.

Jubilant FoodWorks Limited has disclosed receiving a significant GST demand order from tax authorities in Maharashtra. The company received the order on March 13, 2026, at 19:06 hours IST, marking a notable regulatory development that requires investor attention.

GST Demand Details

The Additional Commissioner, CGST & CX, Thane Commissionerate, Maharashtra, has issued Order No. 61/SJS-99/DGGI/TH-CGST/2025-26 dated February 20, 2026. The order was issued under section 74(9) read with section 74(1) of the CGST Act, 2017, along with corresponding provisions of the SGST/UTGST Act, 2017.

Nature of Alleged Violation

The GST demand stems from alleged incorrect classification of certain services rendered under "Restaurant Services," which authorities claim resulted in short payment of GST. The company received this communication through FORM GST DRC-07, a standard format used by GST authorities for demand and recovery proceedings.

Company's Response and Action Plan

Jubilant FoodWorks has expressed strong disagreement with the order's findings. The company believes that the order is incorrect and has not adequately considered the merits of their contentions. Key aspects of the company's position include:

• The company is in the process of filing an appeal against the order
• Management expects the impugned demand to be dropped following the redressal process
• The company does not anticipate any material financial implications from this matter
• No impact is expected on operational or other business activities

Regulatory Compliance and Disclosure

The disclosure has been made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has confirmed that all information provided is true, correct, and complete to the best of their knowledge and belief, as required under Regulation 30(13) of the Listing Regulations.

Financial and Operational Impact Assessment

Despite the substantial quantum of the demand, Jubilant FoodWorks has stated there is no material impact on financial position and no impact on operational or other activities of the company. This assessment appears to be based on the company's confidence in successfully appealing the order and having the demand dropped through the legal redressal process.