Vijay Mallya may sell RCB stake to escape debt trap

July 10, 2012

vijay-mallya

Bangalore, July 10: After the financial turbulence at Kingfisher Airlines, Chairman Vijay Mallya's United Spirits is looking at reducing its debt and bringing back the good times. It may even sell its stake in its Indian Premier League (IPL) team Royal Challenges Bangalore (RCB).


Vijay Mallya's acquisition of the brand White & Mackay helped United Spirits reach the top of the global pyramid, but it came at a cost. Its debt has surpassed Rs 7,000 crore and the company is looking at monetising its non core assets to bring this down to manageable levels.


When the price is right, these assets could well include treasury stocks, a stake in United Breweries, and even a stake in its cricket franchise Royal Challengers Bangalore - all worth between Rs 1,500 and Rs 2,000 crore.


Ashok Capoor, President & MD, USL, said, "We have non core assets we can monetise anytime - treasury stocks, UBL stocks, Royal Challengers. But we will not do any selling at this stage. We will only sell when the price and timing are right to bring our debt down in the future.


That's not all. After touching 120 million cases in volume sales last fiscal, USL is now shifting focus to margins. So the sales target 200 million cases by FY 16 is taking a back seat. USL will drive brands that will contribute to revenues, even if they don't add to the volumes initially.


Ashok Capoor said, "We are chasing value, brands that are more premium and the trend is also towards premiumisation, so with that agenda I don't think we will do 200 million cases by FY 16. It will be less than that."


The company is also hoping that input costs will stabilise this year, making its job much easier.


In 2011, the prices of key input elements, extra neutral alcohol or ena and glass, rose significantly, forcing USL to opt for an aggressive, higher-than-usual, 3.5 per cent price hike. But USL says both ena prices and glass availability are improving this year and as they say - every drop counts.



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News Network
May 4,2020

May 4: Yuzvendra Chahal is among the best leg-spinners in international cricket right now but he can be more effective with better use of the crease, says former Pakistan spinner Mushtaq Ahmed.

Ahmed picked Chahal, Australia's Adam Zampa and Pakistan's Shadab Khan among the top leg-spinners in white-ball cricket.

"Chahal as been impressive. He is definitely among the top leg-spinners of the world. And I feel he would be more effective if he uses the crease a lot more," Ahmed said.

Ahmed, who has coached all around the world and is currently a consultant for his native team, said India's ability to take wickets in the middle-overs in the limited overs format through Chahal and Kuldeep Yadav has been a game-changer for them.

Both the wrist-spinners were brought into India's limited overs set-up following the 2017 Champions Trophy. Though, of late, both Chahal and Kuldeep havn't been playing together.

"He (Chahal) can go wide of the crease at times. You got to be smart enough to understand pitches. If it is a flat pitch, you can bowl stump to stump," said Ahmed, one of the best leg-spinners Pakistan has produced.

"If the ball is gripping, you can go wide of the crease because you can trouble even the best of batsmen with that angle. That way your googly also doesn't turn as much as the batsman expects and you end up taking a wicket."

Chahal has taken 91 wickets in 52 ODIs at 25.83 and 55 wickets in 42 T20s at 24.34. He is not a huge turner of the ball but uses his variations very effectively.

Ahmed also feels the likes of Chahal and Kuldeep have benefitted immensely from former captain M S Dhoni's advice from behind the stumps.

"You have got to be one step ahead of the batsman. You should know your field position as per the batsman's strength. I always say attack with fielders not with the ball. If you understand that theory, you will always be successful," the 49-year-old, who played 52 Tests and 144 ODIs, said.

"India has become a force to reckon with in all three formats as it uses its bowlers really well. Dhoni was a master at getting the best out of his bowlers in limited overs cricket and now you have Virat Kohli."

He also said the art of leg-spin remains relevant more than ever.

"You need leg-spinners and mystery spinners in your team as they have the ability to take wickets at any stage of the game. I see a lot of them coming through in the next 10-15 years.

"Most batsmen now like playing express pace but with a good leg-spinner in the team, you are always in the game," added member of the 1992 World Cup-winning squad.

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News Network
June 24,2020

New Delhi, Jun 24: Former England skipper Michael Vaughan has slammed UK Prime Minister Boris Johnson for not allowing recreational cricket to resume.

UK Prime Minister Boris Johnson had described the cricket ball as a 'natural vector of disease' and ruled out recreational cricket's return in the country.

Hearing Johnson's argument, Vaughan tweeted: "Hand sanitiser in every players pocket. Use every time you touch the ball ... SIMPLE ... Recreational Cricket should just play from July 4th ... utter nonsense it's not being allowed back ... #Cricket."

Johnson was responding to a question from Conservative MP Greg Clark in the House of Commons, and it was then that Johnson said that it is too soon to lift current restrictions to allow the return of recreational cricket.

"The problem with cricket as everybody understands is that the ball is a natural vector of disease, potentially at any rate. We've been around it many times with our scientific friends," ESPNCricinfo had quoted Johnson as saying.

"At the moment, we're still working on ways to make cricket more COVID-secure but we can't change the guidance yet," he added.

Johnson had announced various relaxations on Tuesday, but the return of recreational cricket was not a part of them.

However, this statement given by Johnson will have no impact on the Test series between England and West Indies, scheduled to begin from July 8.

However, the England and Wales Cricket Board (ECB) has said that it is looking to resume recreational cricket in the country around July 4.

The board has also said that cricket is a low-risk sport as it is a non-contact sport.

"We believe that cricket is a non-contact sport, with very low risks of exposure, and that it can be played as safely as many other activities being currently permitted," the ECB said in an official statement.

"It is our strong desire to work with Government to see the return of recreational cricket on or around 4th July, as they continue to lift other restrictions more broadly across society," it added.

All international cricket has also been suspended since March due to the coronavirus pandemic.

However, it is set to resume to from July 8 as England and West Indies will lock horns in the three-Test series.

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News Network
July 25,2020

New Delhi, Jul 25: Former India spinner Anil Kumble said that he has never understood why people compared him with Australia's Shane Warne.

Kumble was doing an Instagram live session with former Zimbabwe pacer Pommie Mbangwa and it was then that the spinner also talked about being the third-highest wicket-taker in Test cricket.

"It feels really wonderful to finish with these many wickets. I never bothered about statistics or what my average should be, I wanted to bowl the whole day and be the one to take wickets. To finish as the third-highest wicket-taker in Tests alongside Murali and Warne is very special. All three of us played in the same era, there were a lot of comparisons, I do not know why people compared me with Warne. Warne was someone really different and he was on a different plane," Kumble told Mbangwa during the interaction.
"These two guys could spin the ball on any surface so it became really difficult for me when they started comparing me with Warne and Murali. I learnt a lot by watching them both bowl," he added.

The Indian spinner announced his retirement from international cricket in 2008. He finished with 619 wickets in the longest format of the game.

He has the third-highest number of wickets in Tests, only behind Sri Lanka's Muttiah Muralitharan (800) and Australia's Shane Warne (708).

Kumble is the second bowler in the history of international cricket after England's Jim Laker to take all ten wickets in an innings of a Test match.

He had achieved the feat against Pakistan in 1999 at the Feroz Shah Kotla Stadium in Delhi. Kumble had bowling figures of 10-74 from 26.3 overs in the second innings of the Test match.
Kumble will be coaching Kings XI Punjab in the Indian Premier League (IPL). 

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