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.



Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 24,2020

Wellington, Feb 24: Indian batsmen's inadequacies in adverse conditions were laid bare as they crashed to an embarrassing 10-wicket defeat against a ruthless New Zealand side that wrapped up the opening Test in just over three days here on Monday.

Starting the day on 144 for four, India were all out for 191 in their second innings. This was only a shade better than their dismal 165 in the first innings, which eventually proved to be decisive.

Trent Boult (4/39 in 22 overs) and Tim Southee (5/61 in 21 overs), the most under-rated new ball pairs in world cricket, showed that when it boils down to playing incisive seam and swing bowling, this batting line-up is still a work in progress.

The required target of nine runs was knocked off by New Zealand without much ado for their 100th Test win.

India's last defeat was against Australia at Perth during the 2018-19 series but the loss at the Basin Reserve would hurt them more because the visitors have not surrendered in such a fashion of late.

There was no resistance from a star-studded line-up and more than intent, the failure was due to poor technique on a track that had something on the third and fourth day as well.

This is a team that plays fast bowling much better than their predecessors, the reason for their success on the bouncy Australian tracks.

But when it comes to facing conventional seam and swing bowling in testing conditions, they are yet to learn the art of saving a Test match.

India had lost the mental battle on the first day itself when they saw the moisture on the wicket.

The toss became a factor and not for one session did they look comfortable. Mayank Agarwal was the only batsman, who felt at home in patches, as New Zealand showed what a Test match strategy is all about.

If the first innings was about mixing back of length deliveries with fuller length balls, the second innings saw the pacers coming from round the wicket and targeting the rib-cage. The line was disconcerting and it stifled them for good.

It affected their mindset and once Ajinkya Rahane and Hanuma Vihari stepped out on the fourth morning, defeat was written all over as both looked ill-equipped to handle such high quality seam bowling.

Rahane (29 off 75 balls) and Vihari (15 off 79 balls) are players who only play long-form cricket at the international level and both are known for their patience.

But little would have the Indian vice-captain apprehended that he would get a delivery from Boult, which he thought would move away after pitching but it held its line and he had no option but to jab at it, and all he got was an edge.

Southee, who bowls a lovely classical outswinger, then bowled an off-cutter from the other end and before Vihari could comprehend, it came back sharply to peg the stumps back.

Within first 20 minutes, the two seasoned practitioners of swing had knocked the stuffing out of India's resistance.

Rishabh Pant (25 off 41 balls) batted only in the manner he can and played one breathtaking shot off Southee, a slog sweep off a 130 kmph-plus delivery to the deep mid-wicket boundary.

But there was too much left to do with too little support from the other end. Bending on one knee, he tried another audacious slog scoop but couldn't clear.

Southee, who had a terrific match, deservingly completed his 10th five-wicket haul and all it took was 16 overs to end the innings and the match.

New Zealand now have 120 points in the World Test championship and India stayed on top with 36 points.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 6,2020

May 6: They have similar impact on their teams but Virat Kohli is driven by sheer passion to subdue the rivals while Steve Smith just enjoys batting, says Australia opener David Warner.

India skipper Kohli and top Australian batsman Smith are arguably the top two cricketers of the current era. They achieve new milestones consistently, invoking debates, who is better between them.

"Virat's passion and drive to score runs is different to what Steve's would be," Warner said while speaking to Harsha Bhogle on 'Cricbuzz in Conversation'.

"Steve is going out there for a hit in the middle, that's how he sees things. He's hitting them out in the middle, he's having fun, he's enjoying himself, just does not want to get out."

Warner feels, while Kohli is batting he is aware that if he sticks around the middle his team will be on top of the proceedings.

"Virat obviously doesn't want to get out but he knows if he spends a certain amount of time out there, he's going to score plenty of runs at a rapid rate. He's going to get on top of you. That allows the guys coming in, especially in the Indian team you've got a lot of players who can be flamboyant as well."

The Australian opener added that both men are mentally strong and a good knock by them boosts the morale of the entire team.

"When it comes to cricket, they both have got the mental strength, the mental capacity to score runs. They both love spending time in the middle.

"They stabilise, they boost morale - if they score runs, everyone else's moral is up. If they are out cheaply you almost sense that on the field that everyone is (down on morale and thinking) 'now we all have to step up'. It's a very bizarre situation," he added.

Asked about the similarities between himself and Kohli, who are both live wires on the field, Warner said the passion to do better than the opponent keeps him going.

"I can't speak for Virat, obviously, but it's almost like we got this thing in us when we go (out to the middle) we need to prove people wrong, prove someone wrong."

"If you're in that contest, and if I'm going at him for example, you're thinking, 'Alright, I'm going to score more runs than him, I'm going to take a quick single on him'. You are trying to better that person in that game. That's where the passion comes from."

Warner also explained how he breaks down a match into smaller competitions.

"Obviously you want to win the game but you almost break it down to: If I can score more runs than Virat, or if Pujara scores more runs than Steve Smith, you have these little contests and that's how you try to narrow the game in the sense that if we do these little things, we can be ahead of the game or we can be behind the game.

"The passion is driven by...I know my sense - one, the will to win and two, wanting to do better than that person in the opposition," said Warner.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 1,2020

Jun 1: Premier India pacer Jasprit Bumrah won't miss the hugs and high-fives as part of a wicket celebration but he will certainly miss applying saliva on the ball and feels an alternative should be provided to maintain the red cherry.

The ICC Cricket Committee, led by former India captain Anil Kumble, recommended a ban on using saliva on the ball as an interim measure to deal with the COVID-19 pandemic. However, the Committee did not allow the use of artificial substances as a substitute move.

The new rule makes life tougher for the bowlers and Bumrah, like many former and current fast bowlers, feels there ought to be an alternative.

"I was not much of a hugger anyway and not a high-five person as well, so that doesn't trouble me a lot. The only thing that interests me is the saliva bit," said Bumrah in a chat with Ian Bishop and Shaun Pollock on ICC's video series 'Inside Out'.

"I don't know what guidelines we'll have to follow when we come back, but I feel there should be an alternative," he added.

Bumrah said not being able to use saliva makes the game more batsman-friendly.

"If the ball is not well maintained, it's difficult for the bowlers. The grounds are getting shorter and shorter, the wickets are becoming flattered and flatter.

"So we need something, some alternative for the bowlers to maintain the ball so that it can do something - maybe reverse in the end or conventional swing."

When former West Indian pacer Bishop pointed out that the conditions have been favorable to the fast bowlers over the last couple of years, Bumrah nodded in agreement.

"In Test match cricket, yes. That is why it's my favorite format because we have something over there. But in one-day cricket and T20 cricket… one-day cricket there are two new balls, so it hardly reverses at the end.

"We played in New Zealand, the ground (boundary) was 50 metres. So even if you are not looking to hit a six, it will go for six. In Test matches I have no problem, I'm very happy with the way things are going."

He finds it amusing that the batsmen keep complaining about the swinging ball.

"Whenever you play, I've heard the batsmen - not in our team, everywhere - complaining the ball is swinging. But the ball is supposed to swing! The ball is supposed to do something! We are not here just to give throwdowns, isn't it? (laughter)

"This is what I tell batsmen all the time. In one-day cricket, when did the ball reverse last, I don't know. Nowadays the new ball doesn't swing a lot as well. So whenever I see batsmen say the ball is swinging or seaming and that is why I got out - the ball is supposed to do that.

"Because it doesn't happen so much in the other formats, it's a new thing for the batsmen when the ball is swinging or seaming," said the 26-year-old.

The Ahmedabad-born pacer finds himself in an unusual position as he has not bowled for over two months due to the lockdown imposed in the wake of the coronavirus outbreak.

When India will play next is not clear yet and Bumrah said he is not sure about how his body will hold up when he returns to action.

"I really don't know how your body reacts when you don't bowl for two months, three months. I'm trying to keep up with training so that as soon as the grounds open up, the body is in decent shape.

"I've been training almost six days a week but I've not bowled for a long period of time so I don't know how the body will react when I bowl the first ball.

"I'm looking at it as a way to renew your own body. We'll never get such a break again, so even if you have a small niggle here and there, you can be a refreshed person when you come back. You can prolong your career," he said.

Bumrah has risen rapidly in international cricket despite experts having reservations about his longevity due to his unorthodox action.

The gritty fast bowler sees similarities in his career graph to Swedish football star Zlatan Ibrahimovic.

"Our personalities are different. But the story I could relate to is that not many people thought he would make it big. There was a similar case with me growing up as well.

"Wherever I went, it was the general feedback from people that 'this guy would not do anything, he would not be a top-rated bowler, he won't be able to play for a long period of time with this kind of action'.

"So, having the self-belief is important and the only validation that is required is your own validation. I saw that in his (Ibrahimovic's) story, so that's the thing I could relate to," added Bumrah.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.