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 25,2020

Karachi, May 25: Pakistan head coach and chief selector Misbah-ul-Haq believes Babar Azam is destined to be a world-class player and is very close to being in the same league as India skipper Virat Kohli and Australia's Steve Smith.

"I don't like comparisons but Babar is currently very close to being in the same class as Virat Kohli, Steve Smith or Joe Root," Misbah said in an interview to Youtube channel, Cricket Baaz.

"He believes in the work ethic that if you want to better Kohli you have to work harder than him at your skills, fitness and game awareness."

The 25-year-old, who was named captain of the Pakistan T20 team ahead of the Australia series in October last year, was recently handed the reins of ODI team as well.

"Making him the T20 captain was a tester. We wanted to see how he will respond to this challenge. All of us agree that he has done a very good job and his biggest plus is that being among the worlds top players he leads by example," Misbah said.

"If you are a performer like Babar then it becomes easier for you to motivate the rest of the team and get things done.

"Even when I was made captain in 2010 my performances were here and there and I was in and out. But captaincy changed my game and mindset and I became a more hard-working and motivated cricketer."

Misbah said Babar always challenges himself and would get better as a captain with experience.

"He is in a zone of his own. He just doesn't want to be in the team. He just doesn't want to play for money. He wants to be the top performer for Pakistan. He is always pitting himself against other top batsmen like Kohli or Smith," he said.

"He loves challenges in the nets and on the field. He has really matured as a player and in time he will get better as a captain with experience."

Babar was the leading run-scorer of the T20I series against Australia last year. He also scored 210 runs, which included a hundred, at 52.50 in the Test series against the same opponents.

In the two-Test home series against Sri Lanka, Babar ended the series with 262 runs with an average of exactly 262.

Misbah feels Babar had changed as a batsman when he got runs in the Tests in Australia.

"Before that he was getting runs in tests but not consistently. In Australia and in the following tests against Sri Lanka and Bangladesh he changed," he said.

Talking about his experience as a head coach, Misbah said: "Having captained, it has helped me a lot. As captain I had to manage everything and also having played under top coaches ... I have seen closely their work ethics and how they managed things.

"It is a learning process. Having remained captain it is a big advantage for coaching because you know the players and their mood swings. You know which player will respond in a given situation,which player is feeling pressure in a scenario.

Misbah said it is not easy juggling between different roles.

"Most important thing as a coach is mentally and psychologically how you handle a group of players," the former skipper said.

"Sometimes captain and coach is different as you have to take tough decisions. Being chief selector makes it it a bit difficult but I had experience of creating and managing teams, I have been building teams since 2003. Till now it is going well."

Misbah feels in Pakistan cricket there were different parameters for judging foreign and local coaches.

"I don't know why it is like this why do we have different eye for locals and foreigners. Maybe we feel they have something special. It looks like every decision by a foreign coach is right. In contrast we tend to be very critical of local coaches no matter what decision they take," he said.

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News Network
March 5,2020

Mumbai, Mar 5: Former India spinner Sunil Joshi was on Wednesday named chairman of the national selection panel by the BCCI's Cricket Advisory Committee (CAC), which also picked ex-pacer Harvinder Singh to the five-member group.

The CAC, comprising Madan Lal, R P Singh and Sulakshana Naik, picked the two selectors with Joshi replacing South Zone representative MSK Prasad.

In an unprecedented decision, the BCCI said the CAC will review the panel's performance after one year and make recommendations accordingly.

"The committee recommended Sunil Joshi for the role of chairman of the senior men's selection committee. The CAC will review the candidates after a one-year period and make the recommendations to the BCCI," read a statement from BCCI Secretary Jay Shah.

Harvinder was chosen from central zone and replaces Gagan Khoda in the panel.

The existing members of the selection panel are Jatain Paranjpe, Devang Gandhi and Sarandeep Singh.

"We have picked the best guys for the job," Lal told news agency.

The CAC had shortlisted five candidates for interviews -- Joshi, Harvinder, Venkatesh Prasad, Rajesh Chauhan and L S Sivaramakrishnan -- from a list of 40 applicants.

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News Network
July 6,2020

New Delhi, Jul 6: India's cricket chief Sourav Ganguly says improved fitness standards and a change in culture have led to the country developing one of the world's best pace attacks.

Spearheads Mohammed Shami and Jasprit Bumrah are part of a battery of five formidable quick bowlers that have helped change India's traditional reliance on spin bowling.

"You know culture has changed in India that we can be good fast bowlers," Ganguly said in a chat hosted on the Board of Control for Cricket in India (BCCI) Twitter feed.

"Fitness regimes, fitness standards not only just among fast bowlers but also among the batters, that has changed enormously. That has made everyone understand and believe that we are fit, we are strong and we can also bowl fast like the others did."

The West Indies dominated world cricket in the 1970s and 1980s led by a fearsome pace attack that included all-time greats such as Michael Holding, Andy Roberts, Malcolm Marshall and Joel Garner.

Recently Indian quicks have risen to the top in world cricket with Shami, Bumrah, Ishant Sharma, Umesh Yadav and Bhuvneshwar Kumar in a deadly arsenal.

"The West Indies in my generation were naturally strong," the former India captain said.

"We Indians were never such naturally strong... but we worked hard to get strong. But I think it is the change in culture as well that is very important."

Shami last month claimed that the current Indian pace attack may be the best in Test history.

"You and everyone else in the world will agree to this -- that no team has ever had five fast bowlers together as a package," said Shami.

"Not just now, in the history of cricket, this might be the best fast-bowling unit in the world."

Shami took 13 wickets during India's 3-0 home Test sweep over South Africa last year, while Bumrah has claimed 68 scalps in 14 Tests since his debut.

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