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Tag: Grant Thornton Bharat LLP

  • Tips hits the high notes with Rs 16,656 lakh annual profit and major reappointments

    Tips hits the high notes with Rs 16,656 lakh annual profit and major reappointments

    MUMBAI: When the music plays at Tips, it’s more than just melody, it’s money, momentum, and management moves. On April 23, 2025, the board of Tips Music Limited (formerly Tips Industries Limited) struck a high chord, approving robust financial results and announcing key leadership reappointments in what was a blockbuster boardroom session.

    The company posted an impressive net profit of Rs 16,656.15 lakh for the year ended March 31, 2025, a 31 per cent jump over the previous year’s Rs 12,716.70 lakh. Total income surged to Rs 32,967.96 lakh from Rs 25,595.82 lakh in FY24, riding on strong revenues from operations totalling Rs 31,068.73 lakh, up from Rs 24,158.07 lakh.

    Tips also declared and disbursed dividends totalling Rs 7 per share across three quarters, resulting in a Rs 8,948.21 lakh payout to shareholders. Meanwhile, the company executed a buyback of 5.95 lakh equity shares at Rs 625 per share, worth Rs 3,718.75 lakh, showcasing confidence in its valuation and balance sheet.

    In leadership harmony, the board re-appointed Kumar Taurani as chairman and managing director for a further three-year term starting 1 June 2025. Known for building one of India’s most vibrant music catalogues and guiding the company through decades of transformation, Kumar Taurani remains central to TIPS’ continued growth.

    Joining him in the encore are Ramesh Taurani and Girish Taurani, reappointed as executive directors. The trio brings over 100 years of collective experience in the entertainment business, a fact that resonates with the company’s sustained success in a competitive media landscape.

    The board also greenlit appointments of M/s. Grant Thornton Bharat LLP and Maheshwari & Co. as internal auditors, and M/s. NL Bhatia & Associates as secretarial auditors for a five-year term. These moves reinforce the company’s governance framework as it tunes up for its next growth phase.

    The quarter ended March 2025 alone saw profits of Rs 3,061.13 lakh, with a total comprehensive income of Rs 3,063.46 lakh. Earnings per share (EPS) stood at Rs 13.02 for FY25 compared to Rs 9.90 the previous year. The company continues to operate in a single segment Audio/Video Products with music licensing, royalty income, and digital content driving performance.

    Tips has also settled a long-pending dispute with Wynk, recognising Rs 1,200 lakh in revenue during the year following consent terms filed with the Bombay High Court another legal note wrapped with commercial finesse.

    From emotional ballads to bold boardroom decisions, Tips Music is orchestrating a growth symphony with strategic foresight, family-led leadership, and consistent financial crescendos. With Rs 33,940.28 lakh in total assets and a sharp focus on shareholder value, the beat goes on.

  • Prateek Kathpal advanced to director – private capital ecosystem – Grant Thornton Bharat

    Prateek Kathpal advanced to director – private capital ecosystem – Grant Thornton Bharat

    MUMBAI: He has got a capital promotion.  Grant Thornton Bharat LLP has elevated  Prateek Kathpal as director of the private capital ecosystem. In this pivotal role, Prateek will lead initiatives related to private equity go-to-market planning, deals consulting, and all aspects of practice development, including deal structuring, investment banking, due diligence, valuations, and debt restructuring.

    With a robust background in the financial sector, Prateek is an innovation enthusiast whose experience spans multi-sector corporate accelerator programs and advisory roles for startups on commercialisation and market entry strategies. The BSc in information technology also completed his post graduate degree in marketing, strategy & finance.  

    Prateek’s previous positions include director of private equity and deals at Grant Thornton, and strategy & practice development lead at Khaitan & Co, where he drove significant business engagements and client outreach. Additionally, he has a history of leading marketing and sales initiatives at Yes Bank and VCCircle.

    Grant Thornton Bharat, part of Grant Thornton International Ltd., is one of India’s premier professional services firms, boasting a workforce of over 10,000 across 19 offices. The firm is dedicated to delivering assurance, consulting, tax, risk, and digital transformation services while prioritising client-centric solutions and positive ecosystem impact.