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 1,2020

Melbourne, May 1: Reclaiming the top spot in Test cricket has brought smiles back on their faces but Australia coach Justin Langer says beating India in their own den remains the ultimate test and their numero uno status will be put to test when they clash with the Virat Kohli-led team.

After a tumultuous transition phase post the ball-tampering scandal, Australia on Friday displaced India as number one side in Test format but Langer is aware that it does not take long for the situation to change.

"We recognise how fluid these rankings are, but at this time it was certainly nice to put a smile on our faces," Langer told Cricket Australia website. "We've got lots of work to do to get to be the team that we want to be, but hopefully over the last couple of years not only have we performed well on the field, but also off the field," Langer added.

The former left-handed opener underlined what he felt will be the ultimate test of character.

"Certainly a goal for us has been the World Test Championship ... but ultimately, we have to beat India in India and we've got to beat them when they come back (to Australia).

"You can only judge yourself as being the best if you beat the best and we've got some really tough opposition to come," Langer put his priorities in place. The team he insists needs to get better as now others will come gunning for them.

"Getting to No.1 is a great thing, but when you're No.1, you're always the hunted," Langer said. "We've been the hunters for a while, now we're the hunted and we need to get better and better."

Langer also hoped that white ball team under Aaron Finch will win the World Cup. "I know how hard it is to win World Cups ... everything has to go right. One day, I'd love to see Aaron Finch with all his mates lift that T20 World Cup above his head."

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News Network
January 7,2020

Indore, Jan 7: With the first T20I being washed out, India and Sri Lanka will now hope that rain gods stay away from the Holkar Stadium when the two teams face each other in the second match of the ongoing three-game series on Tuesday.

Only toss could take place on Sunday at Guwahati`s Barsapara Cricket Ground before rain gods came in and left damp spots on the pitch thus forcing the game to be called off without a ball being bowled.

Hairdryers were used to dry the pitch after water seeped in through leaking covers at the Barsapara Stadium, a sight which is not usually seen in international cricket. And that hasn`t gone down well with the Board of Control for Cricket in India (BCCI) which now awaits chief curator Ashish Bhowmick`s report on the same.

The Men in Blue, who enjoyed a brief break, are coming into the series on the back of T20I series victories against Bangladesh and West Indies respectively and thus would be the more confident side out of the two.

Just like Guwahati, the team management and other Indian cricket fans would focus on comeback man Jasprit Bumrah who is making his return to international cricket. Bumrah has been out of action after India`s tour of the West Indies in July-August due to a stress fracture on his back and thus would be rearing to go and perform for the team.

Dhawan, like Bumrah, was not part of the West Indies series after he hurt his knee during the Syed Mushtaq Ali Trophy. The left-handed opener was not at his absolute best in the T20I series against Bangladesh and faced criticism from several quarters.

While Bumrah will grab more eyeballs during the remaining two matches, the series is also important for left-handed opening batsman Shikhar Dhawan, making a comeback into the team post knee injury.

However, recently, he scored a century in the Ranji Trophy and showed glimpses of returning to form.

In the bowling department, the team management would be checking out how the likes Navdeep Saini and Shardul Thakur react to pressure situations in death overs alongside Bumrah in the absence of frontline speedsters Mohammed Shami Deepak Chahar and Bhuvneshwar Kumar.

Young-off spinner Washington Sundar would like to put up performances to ensure that he gets to be part of the squad travelling to Australia for the World T20 in October.

Shivam Dube would also like to perform better - both with bat and ball - till Hardik Pandya is fully fit and back in action.

Wicketkeeper-batsman Rishabh Pant - like recent times - will once again be watched with careful eyes. Pant knows that he cannot take things lightly and need to perform as Sanju Samson as already warmed the benches for six straight T20Is.

For Sri Lanka, the remaining two matches of the series would be about giving match practice to the likes of Angelo Mathews who is returning to the national side having last played a T20I against South Africa in August 2018

In their last T20I series, Sri Lanka suffered a 0-3 rout in Australia as all their three departments failed to put in a commanding performance.

India and Sri Lanka have faced each other in 17 T20Is, out of which India have won 11 -- joint most for them against all opponents faced in shortest format.

With the three-match series now effectively turning into a two-game affair, both India and Sri Lanka would want to win in Indore to make sure they can`t lose the series. Also, Sri Lanka have never beaten India in a bilateral T20I series, a record which they would desperately like to change in the remaining two games.

Squads:

India: Virat Kohli (c), Shikhar Dhawan, KL Rahul, Shreyas Iyer, Rishabh Pant (wk), Ravindra Jadeja, Shivam Dube, Yuzvendra Chahal, Kuldeep Yadav, Jasprit Bumrah, Navdeep Saini, Shardul Thakur, Manish Pandey, Washington Sundar, Sanju Samson.

Sri Lanka: Lasith Malinga (c), Dhanushka Gunathilaka, Avishka Fernando, Angelo Mathews, Dasun Shanaka, Kusal Perera, Niroshan Dickwella, Dhananjaya De Silva, Isuru Udana, Bhanuka Rajapaksa, Oshada Fernando, Wanindu Hasaranga, Lahiru Kumara, Kusal Mendis, Lakshan Sandakan, Kasun Rajitha.

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News Network
March 26,2020

New Delhi, Mar 26: As India continues its fight against coronavirus, the Board of Control for Cricket in India (BCCI) President Sourav Ganguly pledged to donate rice worth Rs 50 Lakhs to the needy people.
The Cricket Association of Bengal (CAB), in its statement, said Ganguly along with Lal Baba Rice will provide rice to people who have been put in government schools for safety and security.
"#Sourav to provide Free Rice to the Needy It is heartening to note that Sourav Ganguly along with Lal Baba Rice has come forward to provide free rice worth Rs 50 lacs to the needy people who have been put in government schools for safety and security. Hope this initiative of Ganguly would encourage other citizens of the state to take up similar initiatives to serve the people of our state. #CAB," CAB said in a statement.
CAB President Avishek Dalmiya has also lent support to the needy people as he donated Rs 5 lakhs to the Government's Emergency Relief Fund.
"CAB President donates 5 lakhs to the Government's Emergency Relief Fund to fight against #CoronaVirus/#Covid19," CAB said in a statement.
Prime Minister Narendra Modi on Tuesday announced a 21-day nation-wide lockdown to contain coronavirus.

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