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 21,2020

New Delhi, Feb 21: Vinesh Phogat yet again fell to Japanese nemesis Mayu Muakida to go out of the gold medal race but Sakshi Malik will fight for the title after winning her semifinal bout at the Asian Wrestling Championship, here on Friday.

Vinesh had lost twice to Mukaida in 2019 – at World Championship and Asian Championships —and the trend continued as the gritty Indian yet again struggled to break the strong defence of the Japanese.

In a tough opening round, Vinesh tried single leg attacks a number of times but every time Mukaida blocked her move and eventually got the upper body lock to subdue the home favourite.

In her last two meetings, Vinesh had not scored a single point against the 2019 world silver medallist. She managed a takedown this time before eventually losing 2-6.

The hard-working Vinesh will now fight for bronze against Vietnam's Thi Ly Kieu but even a medal won't suffice to lift her mood as she and the fans have high expectations from her.

Rio Olympic bronze medallist Sakshi Malik, who has been struggling of late, lost her opening round 1-2 to Naomi Ruike from Japan but later overcame two weak opponents to eventually reach the final of the non-Olympic 65kg category.

She could hardly attack Naomi but outplayed Korea's Ohyoung Ha in the next round, winning by technical superiority.

In her semifinal against Uzbekistan's Nabira Esenbaeva, Sakshi led 5-0 but her rival pulled off consecutive two-point moves to make it 5-4.

Sakshi has been losing in closing stages of late but this time she managed to hold on to her narrow lead, surviving anxious last two seconds.

Also in medal contention are India's brightest youngsters Sonam Malik (62kg) and Anshu Malik (57kg).

Sonam, who had defeated Sakshi in the trials, showed good tactical mind in her resounding win against Korea's Hanbit Lee and also in the 2-5 defeat against world bronze medallist Yukako Kawai.

She pulled off a superb point-scoring move from a disadvantageous position and resisted the 2018 U-23 world champion Yukako in a good fashion.

She will now fight for bronze against Aisuluu Tynbekova.

Anshu Malik opened up her campaign against Kyrgyzstan's Nuraida Anarkulova, winning by technical superiority but was outplayed by reigning world champion from Japan Riskao Kawai.

She will have to beat Sevara Eshmuratova from Uzbekistan to grab a bronze.

In the non-olympic 72kg, Gursharanpreet Kaur is in bronze medal contention. She beat Uzbekistan's Svetlana Oknazarova but lost to Kazakhstan's Zhamila Bakberzenova.

She still made it to the semifinal in which she lost to Japan's Mei Shindo.

She is now up against Mongloia's Tsevegmed Enkhbayar.

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.
Agencies
May 25,2020

Chandigarh, May 25: Legendary former hockey player Balbir Singh Senior died in a private hospital on Monday, his family said.

He was 96 years old. His condition was critical for nearly a fortnight.

He was undergoing treatment at Fortis Mohali and was in a "semi-comatose condition".

He was hospitalised on May 8 with high fever and breathing trouble. His COVID-19 test came negative.

Balbir was part of the Indian teams that won gold at the 1948 London Olympics, Helsinki 1952 and Melbourne 1956. His record for most individual goals scored in an Olympic men's hockey final remains unbeaten.

Balbir had set this record when he scored five goals in India's 6-1 win over Netherlands in the gold medal match of the 1952 Games.

He was the head coach of the Indian team for the 1975 men's World Cup, which India won and the 1971 men's World Cup, where India earned a bronze medal. He was also conferred with the prestigious Padma Shri in 1957.

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
January 17,2020

Jan 17: Indian tennis ace Sania Mirza cruised into the women's doubles final of the Hobart International with her Ukrainian partner Nadiia Kichenok here on Friday.

Sania and Kichenok sailed past the Slovenian-Czech pair of Tamara Zidansek and Marie Bouzkova 7-6 (3) 6-2 in the semifinal contest that lasted one hour and 24 minutes.

The fifth-seeded Indo-Ukrainian combination will lock horns with second seeds Shuai Peng and Shuai Zhang of China. The Chinese pair got a walkover after Belgium's Kirsten Flipkens and Alison Van Uytvanck conceded the other semifinal match because of injury.

While Sania and Kichenok had to fight hard in the opening set, the second set was a cakewalk for the combination.

The first set was a tough contest between the two pairs, bringing the tie-breaker into the equation after it was level at 6-6.

In the tie-breaker, Sania and Kichenok upped their game by a few notches to outsmart their opponents and take the lead.

The second set was a no-contest as Saina and Kichenok broke their opponents thrice -- in the second, sixth and eighth game -- to easily pocket the set and a place in the summit clash.

Saina and Kichenok got 11 break chances out of which they converted four, while their opponents utilised two out of the five break chances that came their way.

The 33-year-old Sania is returning to the WTA circuit after two years. During her time away from the game, she battled injury breakdowns before taking a formal break in April 2018 to give birth to her son Izhaan. She is married to Pakistani cricketer Shoaib Malik.

Before the ongoing event, Sania last played at China Open in October 2017.

A trailblazer in Indian tennis, Sania is a former world No.1 in doubles and has six Grand Slam titles to her credit.

She retired from the singles competition in 2013 after becoming the most successful Indian woman tennis player.

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.