Latest news with #Diageo-owned
Time of India
14 hours ago
- Business
- Time of India
IPL FY2025 earnings: Revenues dip across teams; RCB sees steepest slide while LSG slips into losses
Mumbai Indians , Royal Challengers Bengaluru (RCB), and Lucknow SuperGiants (LSG) reported revenue declines in FY25, according to the Economic Times. Reliance Industries-owned Indiawin Sports, which operates Mumbai Indians, posted a profit of Rs 84 crore, down from Rs 109 crore in FY24. Revenue slipped to Rs 697 crore from Rs 737 crore. Diageo-owned RCB reported revenue of Rs 514 crore in FY25, compared to Rs 649 crore the previous year, citing fewer IPL matches. Profits fell to Rs 140 crore from Rs 222 crore. The franchise declared an interim dividend of Rs 120 crore and continues to field a women's team in the WPL. 'However, the company's FY2025 revenues will also depend on how many matches of IPL 2025 are played in Q4 FY2025,' ICRA noted in its rating report. For LSG, RPSG Sports reported turnover of Rs 557 crore with losses of Rs 72 crore, against a Rs 59 crore profit on Rs 694 crore revenue in FY24. The group pays Rs 709 crore annually in franchise fees until 2031. 'LSG has developed a strong fan base and enjoys healthy ticket revenues. It has also garnered attractive sponsorships. These, coupled with revenues from broadcast rights augur well for the business,' RPSG Ventures chairman Sanjiv Goenka, as quoted by ET. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo BCCI's FY24 annual report showed Rs 4,578 crore disbursed to IPL teams, out of total earnings of Rs 11,703 crore. Of this, Rs 8,744 crore came from media rights, Rs 2,163 crore from franchise fees, and Rs 758 crore from sponsorships. Reliance and RPSG also operate teams across international leagues, including SA20, Major League Cricket, and The Hundred. RPSG Ventures owns 51% of RSVPL, which runs Durban SuperGiants in SA20 and, as of February 2025, controls Manchester Originals in the UK's The Hundred. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
Economic Times
a day ago
- Business
- Economic Times
IPL franchises MI, RCB, LSG earnings take a hit
Synopsis Mumbai Indians, Royal Challengers Bengaluru, and Lucknow SuperGiants experienced revenue declines in FY25, impacting their profits. RCB attributed its revenue drop to fewer IPL matches, while LSG faced losses despite a strong fan base and sponsorships. The BCCI earned significantly from the IPL, distributing a portion to the teams, highlighting the league's financial dynamics. Agencies Mumbai: Three Indian Premier League (IPL) teams - Mumbai Indians, latest champions Royal Challengers Bengaluru (RCB) and Lucknow SuperGiants (LSG) - reported revenue declines in Indians, owned by Reliance Industries-controlled Indiawin Sports, posted a profit of ₹84 crore in FY25, down from ₹109 crore in the previous year. Revenue declined to ₹697 crore from ₹737 crore. Diageo-owned Royal Challengers Bengaluru reported revenue of ₹514 crore in FY25, down from ₹649 crore in FY24. The company attributed the decline mainly to the lower number of IPL matches played by the be sure, besides Mumbai Indians in the IPL, Reliance also owns teams in SA20, International League T20, Major League Cricket, the Women's Premier League (WPL), and The owners of RCB posted a profit of ₹140 crore, compared with ₹222 crore in the previous fiscal, due to fewer men's IPL matches. During the year, the company declared and paid an interim dividend of ₹120 crore. The company also owns a team in the WPL. "However, the company's FY2025 revenues will also depend on how many matches of IPL 2025 are played in Q4 FY2025," ICRA said in its credit rating report on the RCB for FY25 include a significant portion from IPL 2024 matches and part of IPL 2025, as the tournament typically runs from the last week of March to May, spanning two financial to the Board of Control for Cricket in India's (BCCI) FY24 annual report, it paid ₹4,578 crore to IPL teams for 2024. The board earned ₹11,703 crore from the tournament, including ₹8,744 crore from media rights, ₹2,163 crore from franchise fees, and ₹758 crore from annual report of RPSG Ventures shows that its subsidiary, RPSG Sports (owners of LSG), reported a turnover of ₹557 crore in FY25 and a net loss of ₹72 crore. In FY24, RPSG Sports had reported ₹59 crore profit on revenue of ₹694 crore. The company is obligated to pay ₹709 crore annually as franchise fees until original eight IPL teams, excluding LSG and Gujarat Titans, pay 20% of their income from net central rights, sponsorship, and ticketing revenues to the BCCI as fees. "LSG has developed a strong fan base and enjoys healthy ticket revenues. It has also garnered attractive sponsorships. These, coupled with revenues from broadcast rights augur well for the business," RPSG Ventures chairman Sanjiv Goenka said. RPSG Ventures also owns 51% in RSVPL, which in turn fully owns RPSG Sports South Africa RPSG SA). RPSG SA operates Durban SuperGiants, a franchise in the SA20 league. In February 2025, RSVPL was declared the successful bidder by the England and Wales Cricket Board for acquiring a controlling stake in Manchester Originals.
India.com
11-06-2025
- Business
- India.com
Plan to sell IPL 2025 champions RCB only..., Kohli's team reveal truth to BSE, they said...
RCB won the IPL 2025 title after wait of 18 years. They beat PBKS by six runs in IPL 2025 final last week. Media reports stated that RCB owners Diageo India are planning to sell a stake in the team after their IPL 2025 win. RCB could become 2nd IPL team after Gujarat Titans to sell a stake, according to a report in Bloomberg. RCB owners Diageo India are looking at valuation of $2 billion, according to the report in Bloomberg. RCB owners Diageo have confirmed their stand in statement to the Bombay Stock Exchange. "The company would like to clarify that the aforesaid media reports are speculative in nature and it is not pursuing any such discussion," Mital Sanghvi, the company secretary, informed the regulating body of the Indian Stock Market. "This is for your information and records." Diageo-owned United Spirits stock prices increased after new of RCB stake sale. Diageo India had to respond to a mail from BSE. Former IPL chairman Lalit Modi is not surprised at RCB valuation of $2 billion, according to report in Cricbuzz website. "I will not be surprised if it is sold for a higher price," Lalit Modi said. RCB official have no been available since deadly Bengaluru stampede last week which led to death of 11 people amid Virat Kohli's team felicitation.
Business Upturn
10-06-2025
- Business
- Business Upturn
United Spirits denies RCB stake sale reports, calls media claims speculative
United Spirits Limited has officially clarified that recent media reports regarding a potential stake sale in Royal Challengers Bangalore (RCB) are speculative and inaccurate. Company Issues Official Statement United Spirits Limited, the Diageo-owned alcoholic beverages company, responded to BSE surveillance queries on June 10, 2025, categorically denying any discussions related to selling its stake in the Indian Premier League franchise Royal Challengers Bangalore. The company's official statement, signed by Company Secretary Mital Sanghvi, explicitly stated that the media reports are 'speculative in nature' and confirmed that United Spirits is 'not pursuing any such discussions' regarding RCB stake sale. Background: Bloomberg Report and Valuation Speculation According to a Bloomberg report, Diageo had held preliminary talks with advisers to evaluate the possibility of selling a part or full stake in RCB, aiming for a valuation of up to ₹17,000 crore ($2 billion). However, sources indicated that no final decision had been made and the company might ultimately choose to retain the franchise. RCB Ownership History and Current Structure Royal Challengers Bangalore was initially purchased by Vijay Mallya in 2008 for ₹476 crore under United Spirits, with branding linked to Mallya's flagship alcohol products like Royal Challenge and Kingfisher. After Mallya's exit in 2016, control passed fully to United Spirits, now managed by Diageo. Currently, Prathmesh Mishra, Diageo India's Chief Commercial Officer, serves as Chairman of Royal Challengers Sports Pvt. Ltd., the entity managing RCB operations. United Spirits also owns the RCB Women's Team, which recently won the WPL title, adding significant value to the franchise. The speculation comes amid growing regulatory pressure from India's Health Ministry, which has been pushing for tighter regulations on advertising alcohol and tobacco brands in sports, including indirect promotions during the IPL. The clarification came in response to BSE Surveillance Department's email communication dated June 10, 2025, which sought official confirmation from the company regarding the circulating media reports about potential RCB stake sale discussions. United Spirits' prompt response demonstrates regulatory compliance and transparency in addressing market speculation that could impact investor sentiment and stock performance. The official statement puts to rest market speculation and provides clarity to investors and stakeholders regarding United Spirits' position on the reported RCB stake sale discussions.
Mint
07-05-2025
- Business
- Mint
Tequila sees a sunrise as Indians move on from gin. The whisky love affair continues
Gin may have lit up cocktail menus over the past few years, but drinkers may be moving on. Agave spirits, tequila and mezcal are taking the spotlight even as vodka makes a quiet comeback. Yet, whisky, India's long-time favourite, still dominates. Whether at a rooftop bar or house party, tequila shook off its old party-shot image with affluent urban consumers taking to cocktails like Picante and Paloma. Agave spirits, tequila and mezcal grew the fastest at 36% by volume in the country last year, according to the latest consumption numbers for 2024 that international drinks consultant IWSR shared exclusively with Mint. Vodka volumes rose 5% across price levels, making it one of the stronger performers this year. But brandy and rum stayed mostly flat, with just 2% volume growth, IWSR said. The biggest surprise was gin. While the rise of gin seemed unstoppable until now, its volumes grew just 1% in 2024—a sign that the buzz around many homegrown craft gins may be wearing off, or at least slowing down. Tequila's rise mirrors a growing tendency among India's younger consumers to try out premium spirits, which has bolstered the industry's growth amid rising incomes and social acceptance. IWSR estimates the country's $32-billion liquor industry to expand by an incremental $7 billion by 2028. Also read | Following listing, beer maker Kati Patang plans to acquire and incubate small alcohol businesses to expand In December last year, Bacardi, the company behind Patron tequila, said it would expand its range of agave spirits in India. A year earlier, Diageo-owned United Spirits Ltd introduced Don Julio tequila in the market. The company said Don Julio, which is now available in 20 cities and with newer variants, has received encouraging consumer response. The country now consumes about 150,000 cases (of nine litres each) of agave spirits, including imported tequila and agave spirits produced in India, according to Conrad Braganza, chief operating officer of Agave India, a homegrown brand better known as Desmondji. Agave India sells its spirits to consumers as well as several local companies, including Maya Pistola Agavepura. 'Post the pandemic, the market really opened up with a bang, at full capacity. It's become a "sexy" category to be associated with both in the US and in markets like India," said Braganza. 'Agave-based cocktails like the paloma and picante have become as mainstream as the classic gin and tonic." Picante is made with tequila, lime juice, agave syrup and fresh chillis, while the paloma blends tequila with soda, lime juice, and a salted rim. Industry estimates suggest that craft gin as a category, at its peak two years ago, was selling about 350,000-odd cases in India. These volumes have remained constant, say those in the know, suggesting other white spirits may be gaining at its expense. 'There's been some consolidation—a few local brands have shut shop—but we're also seeing new launches simultaneously. Also, gin now has a much wider base of consumption than some years ago," said Vikram Achanta, founder of Delhi-based drinks consultant Tulleeho. 'Despite that, mid-sized players are still entering and investing and gin continues to hold its own in cocktail culture, and slower growth isn't a concern yet." Read this | Spirits up: Premium alcohol sales to grow up to 25% year-on-year in Q3 Tequila, meanwhile, is gaining traction among affluent consumers. 'Top-shelf tequila is making inroads with the highest socioeconomic drinkers, and it's more likely taking share from luxury vodka than gin," added Achanta. Whisky remains India's go-to alcoholic drink. It still accounts for two-thirds of all spirits sold, IWSR said, although its growth has slowed from an average of 3% a year between 2018 and 2023, to 2% in 2024. According to consultants, that's because drinkers are moving towards more refined options. Malt whiskies—whether Indian, Scotch, Irish or Japanese—grew rapidly and volumes rose 32% annually from 2018 to 2023. While the 2024 numbers for malts aren't out yet, the trend toward sipping, rather than mixing, appears to be holding. "Whisky in India is a self-investing and aspirational category — it keeps growing on its own through consumer demand, innovation and brand investments," said Sandeep Arora, Delhi-based drinks consultant who runs Spiritual Luxury Living, a spirits advisory and marketing firm. 'It's now much wider as a category and much bigger than ever before." Despite the marginal dip, he expects a significant growth in 2025 as well and sub-category growth within the whisky gamut. Also read | Why India is the toast of the global alcohol market: Its young voters "People are becoming more experience-driven — they're not just sticking to single malts," Arora added. The category is also benefiting from cultural shifts. 'Drinking is now part of the social fabric in India, with less taboo and more responsible consumption," he added. 'Home bars, rising female participation, and innovation across price points will further fuel the growth of whisky." Spirits priced between ₹ 1,100 and ₹ 2,449 per 750ml—known in the industry as the 'standard" segment—grew 12% in 2024, making it the fastest-growing price tier. Even premium labels ( ₹ 2,950 to ₹ 4,549) saw a healthy 10% jump. But growth slowed at the very top. Super-premium and luxury spirits—priced at ₹ 4,550 and above—grew by 6%, suggesting that the high-end splurge is becoming more selective. While these top-shelf bottles still carry cachet, they are no longer driving the overall market in the way mid-range spirits are. At the other end, entry-level bottles under ₹ 1,099 barely grew at 2%, in line with the broader market average. Still, the broader Indian spirits market is poised to expand in 2025, according to IWSR. And a potential tariff reduction, especially with the UK, could also bring more international brands to the country to cater to the widening Indian palate. And read | Zero-alcohol companies look to capture millennial and 'sober curious' drinkers In a growing market like India where people now have more disposable income, consumers are spending on better-quality products and services. 'This is dovetailing into the need for a lot of alcohol companies to premiumize to keep bottom lines evolving," said Shekhar Swarup, joint managing director of Globus Spirits Ltd, known for its Terai gin and Doaab single malt. While expensive bottles like theirs still have takers, most of the action is happening in the mid-range. United Spirits, in its third-quarter earnings, had highlighted the continuity of the long-term premiumization trend. Even though the top end might take a few more quarters to regain its historical momentum , the company saw no major signs of downtrading and consumption during social occasions was only going up.
