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
June 17,2020

New Delhi, Jun 17: Indian skipper Virat Kohli on Wednesday paid tributes to Indian Army soldiers, who were killed during the face-off with the Chinese troops in Ladakh's Galwan Valley.

Extending condolences to the kin of bravehearts, Kohli said, "No one is more selfless and brave than a soldier."

"Salute and deepest respect to the soldiers who sacrificed their lives to protect our country in the Galwan Valley. NO one is more selfless and brave than a soldier. Sincere condolences to the families. I hope they find peace through our prayers at this difficult time," he tweeted.

The violent face-off happened on late evening and night of June 15 in Ladakh's Galwan Valley as a result of an attempt by the Chinese troops to "unilaterally change" the status quo during de-escalation in Eastern Ladakh and the situation could have been avoided if the agreement at the higher level been scrupulously followed by the Chinese side, India said on Tuesday.

The Army confirmed that 20 soldiers were killed in the face-off, including 17 who were critically injured at the stand-off location and exposed to sub-zero temperatures in the high altitude terrain.

Indian and Chinese troops have disengaged at the Galwan area in Ladakh where they had earlier clashed on the night of June 15 and 16, Indian Army said.

Former cricketer Irfan Pathan tweeted, "We will always be indebted to our jawans of #IndianArmy who lost their lives in #GalwanValley #JaiHind."

Expressing similar sentiments, Indian batsman Shikhar Dhawan wrote, "A sacrifice that will never be forgotten by the nation. Heartfelt condolences to the family and loved ones of the Indian Army officer and the two soldiers. Saluting your bravery, Jai Hind! #GalwanValley."

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News Network
April 13,2020

Apr 13: Former India opener Gautam Gambhir says if IPL is not played this year, it will be difficult for Mahendra Singh Dhoni to make a comeback to the Indian team.

Dhoni last played for India in the World Cup semi-final against New Zealand in July last year.

Since then he hasn't played any competitive cricket and legends such as Sunil Gavaskar and Kapil Dev have already said that it's getting increasingly difficult for the Jharkhand dasher to make an international return after such a prolonged sabbatical.

He was expected to be seen in action at this year's IPL but the chances of T20 league being played are remote due to the COVID-19.

"If the IPL does not happen this year, then it will become very difficult for MS Dhoni to make a comeback. On what basis can he (Dhoni) be selected since he’s not been playing for the last one or one and a half year," Gambhir said on Star Sports show 'Cricket Connected'.

The 38-year-old Gambhir picked KL Rahul, who has been keeping in ODIs, as an "apt replacement" for Dhoni.

Read: Coronavirus India update: State-wise total number of confirmed cases, deaths

"Obviously his (Rahul's) keeping is not as good as Dhoni’s, but if you are looking at T20 cricket, Rahul's a utility player, can keep and bat at No. 3 or 4. If the IPL does not happen, then Dhoni’s chances for a comeback look dim.

"Ultimately, you are representing India, so whoever dishes out the best performance and can win the match for India should play for the team," added Gambhir.

The southpaw also felt that retirement was Dhoni's personal decision.

"As far as his retirement plans go by, that's his personal choice," said Gambhir.

However, his former teammate and test specialist VVS Laxman feels that Dhoni can continue playing IPL.

"Not only this IPL, he (Dhoni) will probably play in the next couple of IPLs, and then we will take a call about his future as a cricketer," Laxman said on the same show.

However, Laxman, a veteran of 134 Tests, said that the new selection committee, chaired by former spinner Sunil Joshi, will have to discuss Dhoni's future with him.

"Dhoni will be very clear, as far as his plans are concerned, I'm sure he must have communicated that with (captain) Virat Kohli, (coach) Ravi Shastri immediately after the 2019 World Cup in England," said Laxman.

"The new selection committee will have to sit down with MS Dhoni and understand his future, as far as Indian cricket is concerned. But MS Dhoni will continue to play for CSK and do well for CSK," said Laxman, who amassed 8,781 Test runs.

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News Network
March 16,2020

Mar 16: With COVID-19 outbreak killing over 5,400 people globally, former Pakistan cricketer Shoaib Akhtar has lashed out at those responsible for making the coronavirus infect humans and blamed China solely for the outbreak.

"I don't understand why you have to eat things like bats, drink their blood and urine and spread some virus across the globe...I'm talking about the Chinese people. They have put the world at stake. I really don't understand how you can eat bats, dogs, and cats. I'm really angry," Akhtar said in a video posted on his Youtube channel.

"The whole world is at risk now. The tourism industry has been hit, the economy is badly affected and the whole world is going towards a lockdown.

"I'm not against the people of China but I'm against the law of animals. I understand this may be your culture but this is not benefitting you now, it is killing humanity. I'm not saying you boycott the Chinese but there has to be some law. You cannot go on and eat anything and everything," he added.

Coronavirus, which originated in China's Wuhan city, has so far spread to more than 100 countries, infecting over 1,30,000 people.

In Pakistan, the number of positive cases reached 28 on Saturday.

Many sporting events, including the Indian Premier League (IPL) and Pakistan Super League (PSL), have been affected by the disease which has now been declared a pandemic by the World Health Organisation (WHO).

While the IPL 2020, which was originally scheduled to start from March 29, has been postponed till April 15, the playoff stage of PSL has been curtailed and will be played behind closed doors.

"The biggest reason for anger is PSL...Cricket returned to Pakistan after so many years, the PSL was happening in our country for the first time now even that is at risk. The foreign players are leaving, it will take place behind closed doors," said Akhtar.

The total number of confirmed coronavirus cases across India has crossed 80 while two people have lost their lives due to the deadly disease. But Akhtar did not have the information and added: "God forbid the virus doesn't reach India. There are around 130 crore people there. I've been in touch with my friends in India and wishing them well."

In PSL, there will be no playoffs and the top four teams will now play semi-finals and then the final on March 17 and 18. The final was originally scheduled to be held on March 22.

"I've also heard that IPL has been postponed till April 15. The hotel industries, travel industries, broadcasters everything will incur losses because of this," he said.

The former Pakistan pacer also called on the world authorities to come out with a new animal protection law so that such diseases don't resurface in the future.

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