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
February 2,2020

Mount Maunganui, Feb 2: India registered a rare 5-0 whitewash against New Zealand after notching up a seven-run win in the fifth and final T20 International at Bay Oval here on Sunday.

Electing to bat, India posted 163 for three, riding on Rohit Sharma's 60 off 41 balls and a 33-ball 45 from K L Rahul.

The visitors then restricted the hosts to 156 for nine with Jasprit Bumrah claiming three wickets for 12 runs.

Chasing the target, the Black Caps were tottering at 17 for three in 3.2 overs.

Tim Seifert (50) and Ross Taylor (53) then added 99 runs for the fourth wicket as New Zealand recovered to 116.

Seifert clobbered a 30-ball 50 studded with five fours and three sixes, while Ross Taylor hit two sixes and five fours in his 47-ball 53-run innings.

However, once Seifert was dismissed in the 13th over, the hosts suffered a collapse, losing five wickets, including Taylor, for 25 runs to loss the plot in the end.

Brief Score:

India: 163 for 3 in 20 overs (Rohit Sharma 60; S Kuggeleijn 2/25)    

New Zealand: 156 for 9 in 20 overs (Ross Taylor 53, Tim Seifert 50; Jasprit Bumrah 3/12).

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News Network
January 18,2020

New Delhi, Jan 18: There was not much rustiness but just the initial nervousness, which a “pleasantly surprised” Sania Mirza shook off to win a title in her first tournament in 27 months, capping off her comeback from a maternity leave in style.

Partnering Ukraine's Nadiia Kichenov, the trailblazing Indian tennis player annexed the Hobart International trophy with a straight sets win over second seed Chinese pair of Shuai Peng and Shuai Zhang.

She worked hard to get into shape but the way she moved, it seemed Sania was never away from the courts.

“It's something I did not expect totally, so to say, but I am excited to be able to do this in my first tournament on comeback," Sania told PTI in an exclusive interview from Melbourne.

“I honestly thought I would be a bit more rustier than I was. I was pleasantly surprised that I was not. But there are things I can improve and that is what makes a champion. You always want to get better in what you are doing, no matter how well you do."

The 33-year-old winner of six Grand Slam titles said she played without pressure, and insisted there was no secret to the swift success on comeback.

“There is no key, I wish I knew, there was one key to winning. I just enjoyed my game. You have to work hard, play your game. I was playing with a new partner, new gear after two-and-a-half years. There was no pressure and no expectations.

"The first match was the only one when I felt a bit nervous because I did not know how my body would react and how I would play. That match was difficult but it set the tone and momentum. I was happy to come though that one and after that things kept getting better and better," she said.

Sania said her body has certainly changed after giving birth to son Izhaan but she did not have to tweak her post-match recovery process much.

“It does change. I was dealing with a calf injury, from last month and I aggravated a bit today. I am still icing it as we speak but it should not be serious.

“The body is a lot different now. It recovers different. But recovery (process) has not changed so much, it's similar."

Asked if she could go for her shots as she was doing before the break, she said, “I was able to do enough, I can improve, no matter how I play."

"My serve was decent but I can improve. I the first match I was not serving that well and was not returning well on important points but by the time I was playing the final, I was doing both of those little better. It is a process, it does not happen overnight. It's something will keep working on."

Serena Williams set an example in 2018 when she came out playing highly competitive tennis after giving birth to her daughter Olympia. There are other tennis moms like Victoria Azrenka and Evgeniya Rodina.

Sania said she did not seek any input from tennis moms but their presence on the Tour is inspiring enough.

“I did not speak to anyone but it is inspiring to see so many moms around, playing well in different sports."

Sania will play the Australian Open mixed doubles with compatriot Rohan Bopnna after her original first-choice Rajeev Ram opted out due to health reasons.

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February 10,2020

Potchefstroom, Feb 9: Bangladesh clinched their maiden ICC U-19 World Cup title after beating favourites India by three wickets in the summit clash here on Sunday.

Set a revised target of 170 after a brief rain interruption, Bangladesh won the match with 23 balls to spare.

Sent in to bat, India's batting wilted under pressure as a superb Bangladesh bowling attack shot the defending champions out for a paltry 177 in 47.2 overs.

Yasashvi Jaiswal (88 off 121 balls) was once again a standout performer but not for once did he look like dominating the Bangladesh bowling unit whose new ball bowlers Shoriful Islam (2/31 in 10 overs) and Tanzim Hasan Shakib (2/28 in 8.2 overs) literally stifled the Indians for runs.

The third seamer Avishek Das (3/40 in 9 overs) was the most successful bowler in terms of figures but it was Shoriful's first spell with channelised aggression that put the Indians on the back-foot from the onset.

After a short rain break towards the end, the target was revised to 170 from 46 runs but Bangladesh reached 170 for 7 in 42.1 overs to win the match.

Opener Parvez Hossain Emon top-scored for Bangladesh with a 79-ball 47 while captain and wicketkeeper Akbar Ali was not out on 43 from 77 deliveries.

For the India U-19 side, Ravi Bishnoi was the most successful bowler with figures of 4/30 while Sushant Mishra had 2/25.

India thus missed out on a record fifth title in their seventh final appearance.

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