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
January 10,2020

Karachi, Jan 10: Former Pakistan batsman and current U-19 head coach Ejaz Ahmed feels that his side can beat defending champions and arch-rivals India in the forthcoming ICC Youth World Cup beginning in South Africa on January 17.

"India has a very good cricket system and it is organized but I know that we have more passion than them when we play against each other and that is how we also beat them in the semi-finals of the recent Asian Emerging Nations Cup," Ejaz said.

Ejaz, who has played 60 Test and 250 ODIs, was head coach of the Pakistan Emerging side which beat India before eventually winning the title in Bangladesh last year.

"Even in the past, we beat India because of our greater passion and this time also I know the passion of our players will prevail over them although they have a very strong outfit," he added.

The 51-year-old Ejaz, however, said at the end of the day it would be all about how a team plays on that particular day.

"It is the same in the World Cup it does not matter which team is number one or defending champions what will matter is how a team plays on a given day. I personally feel our team is well balanced," he said.

Ejaz did not believe that India would get advantage of having played a four-nation tournament with South Africa, New Zealand and Zimbabwe in South Africa before the World Cup.

"Our players have also trained hard in Lahore and we have played around 11 matches. We will also reach South Africa nine days before the World Cup and we have some practice games and I think our preparations are also very good for the tournament," he said.

The former batsman also said the absence of fast bowler Naseem Shah will not impact much on the team's performance. Naseem was withdrawn from the Pakistan U-19 squad after he played for the senior team in three Test matches against Australia and Sri Lanka.

"Look there was no controversy at all. The way we now see things is that you can't expect a MBA to go and take BA exams. That is how we look at Naseem Shah, he has made the grade for Pakistan and now he should be performing for the senior team," said the head coach.

"We have a couple of exciting young talent in the ranks. I expect Rohail and Haider to play for the senior team in two to three year's time, they are that good."

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News Network
March 29,2020

New Delhi, Mar 29: Former Indian batsman Wasim Jaffer on Sunday picked his all-time IPL team and appointed wicket-keeper batsman MS Dhoni as its captain.

Jaffer's team's feature opener Rohit Sharma, current Indian skipper Virat Kohli, all-rounder Hardik Pandya, spinner R Ashwin, and pacer Jasprit Bumrah as seven domestic players.
While the foreign players spot have been occupied by West Indies' swashbuckling batsman Chris Gayle, all-rounder Andre Russell, Afghanistan's spinner Rashid Khan, and Sri Lanka's veteran pacer Lasith Malinga.
Indian all-rounder Ravindra Jadeja has been picked as 12th man by Jaffer.

Earlier this month, the Board of Control for Cricket in India (BCCI) decided to postpone the IPL to April 15, 2020, as a precautionary measure against COVID-19 outbreak.
The board also assured that it will work in unison with the Sports Ministry and will adhere to the guidelines issued.

The 13th edition of IPL was scheduled to commence from March 29. 

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News Network
February 18,2020

Feb 18: Spinner Poonam Yadav claimed three wickets as India geared up for the ICC women's T20 World Cup with a thrilling two-run win over the West Indies in a low-scoring warm-up match in Brisbane on Tuesday. Electing to bat, India posted a lowly 107/8 in their stipulated 20 overs before returning to restrict the West Indies to 105/7. Chasing 108 to win, West Indies were comfortably placed at 57 for one in 13 overs when Deepti Sharma struck, cleaning up opener Lee-Ann Kirby (42) to trigger a collapse. Soon skipper Stafanie Taylor (16), Chedean Nation (0) and Deandra Dottin (1) were back in the hut as West Indies slipped to 67 for five in the 17th over.

Hayley Matthews (25) and Chinelle Henry (17) blasted three fours and a six in the 19th over to leave them with 11 to get off the last six balls.

Henry blasted Poonam for a four but the Indian dismissed Matthews in the fourth ball.

West Indies needed three runs off the last ball but Henry was caught by Veda Krishnamurthy.

Earlier, India's top-three failed to fire as they were reduced to 17 for three in 3.1 overs.

Opener Smriti Mandhana (4) lasted just six balls, while Jemimah Rodrigues (0) failed to open her account.

Young Shafali Verma blasted a couple of fours before being caught by Britney Cooper off Shamilia Connell (2/20).

Skipper Harmanpreet Kaur (11), too, didn't stay long, while Krishnamurthy was cleaned up by Afy Fletcher (1/26), as India slumped to 52 for five in 11.2 overs.

Deepti Sharma made a 32-ball 21 before becoming a victim of Anisa Mohammed (2/16), while Pooja Vastrakar (13) was removed by Aaliyah Alleyne (1/9).

Stafanie taylor then got rid of Taniya Bhatia for 10. Shikha Pandey finally smashed a 16-ball 24 to give some respectability to the total.

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