Latest news with #TSG
Business Standard
5 hours ago
- Business
- Business Standard
Redington records 12% YoY growth in Q1 PAT; clocks EBITDA of Rs 450 crore
Redington has posted 12% increase in consolidated net profit to Rs 275 crore on a 22% rise in revenue to Rs 26,002 crore in Q1 FY26 as compared with Q1 FY25. The companys Mobility business grew by 44% YoY, supported by growth in the premium segment. The Cloud business grew 41% YoY, maintaining strong momentum with the hyperscalers. The Technology Solutions Group (TSG) grew 21% YoY, driven by large deal wins. EBITDA improved by 6% to Rs 450 crore in Q1 FY26 from Rs 424 crore in Q1 FY25. The company said that it continues to evolve as a holistic technology solutions provider addressing the market demand for smartphones, PCs, servers, storage, networking, software solutions for hybrid work and learning environments, consumer, SMB and enterprise customers. It is also responding to the emerging technology requirements fueled by growing adoption of cloud, generative AI, cyber security and sustainable technologies. V.S. Hariharan, managing director & group CEO, Redington, said: In Q1 FY26, our growth has been stellar led by cloud, mobility & technology solutions business with strong double digit growth rates. India, UAE & KSA continue to provide us with the momentum by delivering a high growth, outperforming the market, while Africa continues to remain stable. With our enhanced focus on software, cyber-security and application software, we have embarked on the next wave of digital transformation that will further strengthen our growth trajectory." The companys net debt equity ratio was at 0.23x at the end of Q1 FY26 as against 0.21x at the end of Q1 FY25. Return on equity (RoE) and return on capital employed (ROCE) for Q1 FY26 was 12.6% (down 40 basis points YoY) and 14.5% (down 160 basis points YoY), respectively. Provision for accounts receivables for Q1 FY26 was 0.39% as against 0.02% for Q1 FY25. Redington is a leading distributor of IT and mobility products and a provider of supply chain management solutions and support services in India, the Middle East, Turkey and Africa.
Business Wire
a day ago
- Business
- Business Wire
Starco Brands Executes Non-Binding LOI to Acquire Contract Manufacturer, The Starco Group, to Create a Vertically Integrated Consumer Products Platform
LOS ANGELES--(BUSINESS WIRE)-- Starco Brands, Inc. (OTCQB: STCB), inventor and acquirer of consumer products and brands, announced the execution of a non-binding exclusive Letter of Intent to acquire its contract manufacturers The Starco Group (TSG). TSG is a middle market private label and co-packing manufacturer operating three facilities across the US with a focus in personal care, household, food and beverage products. The proposed transaction aims to provide shareholders a business that will have greater scale on revenue and efficiencies on margin, through vertical integration for many of its brands. Under the proposed transaction, Starco Brands, Inc. would be renamed 'STARCO' and create two main operating subsidiaries, Starco Brands and Starco Manufacturing. Each will operate as separate business units under the public STARCO umbrella which will continue to be led by Ross Sklar, the Chairman & CEO. "We are thrilled to reach this milestone which enables true vertical integration for many of our brands, unlocks significant synergies and is projected to expand the STARCO revenue base,' said Ross Sklar, the founder of TSG and current CEO of STCB. "I founded The Starco Group as a diversified chemical manufacturer in 2015 as a result of multiple synergistic acquisitions with a technical focus in aerosol and liquid fill. We later incepted Starco Brands, with the vision to grow STCB's portfolio of brands until scale was achieved, at which point we would look to merge in TSG's manufacturing platform under a STARCO umbrella.' TSG brings a portfolio of private label and co-packing revenue derived from third-party party brands and retailer-owned brands. TSG has deep R&D and manufacturing expertise in DIY/household, home care, automotive, personal care, beauty, OTC pharma, food, beverage and spirits. TSG's manufacturing facilities include Four Star Chemical located in Los Angeles, CA, BOV Solutions in Statesville, NC, and Temperance Distilling, in Temperance, MI. The acquisition of TSG and restructuring of STCB's business operations under STARCO with Starco Manufacturing and Starco Brands subsidiaries will be a significant milestone for STCB as it continues to further its scale, R&D, product offerings and vertical integration. It is also an extremely protective step in gaining ownership of a significant portion of its supply chain that assists in expanding its margin while layering in new recurring revenue streams from its private label business. STCB's current branded portfolio companies Skylar Beauty, Whipshots, Winona and Art of Sport will all benefit from being vertically integrated through the envisioned new platform. The transaction is expected to close in Q4 2025, subject to due diligence, documentation and any regulatory compliance requirements. About Starco Brands Starco Brands (OTCQB: STCB) invents and acquires consumer products and brands with behavior-changing technologies that spark excitement in the everyday. Today, its portfolio companies include Whipshots, an alcohol whipped cream brand in partnership with Cardi B; Art of Sport, a premium body care and nutrition brand cofounded by Kobe Bryant; Winona Pure a line of Popcorn Seasoning and Cooking Sauce Sprays; Soylent Nutrition a dairy free meal replacement, protein and nutrition brand, and Skylar Beauty, a clean prestige fragrance and personal care brand partnered with Leah Kateb. A modern-day public holding company and invention factory to its core. Starco Brands publicly trades on the OTC stock exchange. Visit for more information. About The Starco Group The Starco Group (TSG) is a diverse manufacturing company that operates three facilities across the US in household, DIY/hardware, automotive, personal care, OTC pharma, beauty, food, beverage and spirits, with a focus in aerosol and liquid fill. TSG's manufacturing facilities include Four Star Chemical located in Los Angeles, CA, BOV Solutions in Statesville, NC, and Temperance Distilling, in Temperance, MI. Visit for more information. Forward-Looking Statements Any statements in this press release about the STCB's future expectations, plans and prospects, including statements about our proposed transaction, future operations, future financial position and results, market growth, new product launches and product growth, total revenue, as well as other statements containing the words 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'might,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' or 'would' and similar expressions, constitute forward-looking statements within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. The transaction may not actually close and STCB may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on the such forward-looking statements. All forward-looking statements are subject to assumptions, risks and uncertainties that may change at any time, and readers are therefore cautioned that actual results could differ materially from those expressed in any forward-looking statements. STCB undertakes no obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as expressly required by law. All forward-looking statements in this document are qualified in their entirety by this cautionary statement. The forward-looking statements included in this press release represent STCB's views as of the date hereof. STCB anticipates that subsequent events and developments may cause STCB's views to change.
CAF
a day ago
- Sport
- CAF
CAF names WAFCON 2024 Best XI
Published: Tuesday, 29 July 2025 Nigeria's dominance at the TotalEnergies CAF Women's Africa Cup of Nations (WAFCON) 2024 has been further underlined after four of their players were named in the tournament's official Best XI, as selected by CAF's Technical Study Group (TSG). The 11-player team, arranged in a 4-3-3 formation, features standout performers from across the continent following a fiercely competitive edition of the tournament co-hosted by Morocco and Ghana. Nigeria, who defeated hosts Morocco 3-2 in the final on Saturday night to clinch their tenth WAFCON crown, contributed the highest number of players to the elite line-up. Super Falcons goalkeeper Chiamaka Ndozie earned her place between the sticks following a series of commanding displays, while dynamic full-back Michelle Alozie, influential forward Esther Okoronkwo, and tournament top scorer Rasheedat Ajibade also made the cut. Joining them is Moroccan captain Ghizlane Chebbak, whose creative influence helped guide the hosts to a second consecutive final. Fellow Moroccan and top striker Ibtissam Jraidi also featured prominently in the line-up. Ghana's Portia Boakye and Grace Asantewaa were rewarded for their leadership and consistency despite the Black Queens falling just short of the final, while South Africa's Karabo Dlamini, Refiloe Jane and Bambanani Mbane were also included after leading Banyana Banyana to a semi-final finish. The CAF Technical Study Group named Nigeria's Justin Madugu as the tournament's Coach of the Tournament following his team's successful title run. A strong list of substitutes was also released, including Zambia's Barbra Banda and Racheal Kundananji, Senegal's Nguenar Ndiaye, Algeria's Chloe Yamina N'Gazi, and Nigeria's Osinachi Ohale and Jennifer Echegini. The 2024 tournament saw a rise in attacking play, with 66 goals scored across 26 matches—an average of 2.54 goals per game, an improvement from the 2.25 average in 2022. The 4-3-3 formation emerged as the most used tactical shape throughout the tournament. CAF's WAFCON 2024 Best XI (4-3-3 formation): Goalkeeper : Chiamaka Ndozie (Nigeria) Defenders : Michelle Alozie (Nigeria), Bambanani Mbane (South Africa), Portia Boakye (Ghana), Karabo Dlamini (South Africa) Midfielders : Ghizlane Chebbak (Morocco), Refiloe Jane (South Africa), Grace Asantewaa (Ghana) Forwards: Esther Okoronkwo (Nigeria), Ibtissam Jraidi (Morocco), Rasheedat Ajibade (Nigeria) Coach of the Tournament: Justin Madugu (Nigeria) Substitutes: Chloe Yamina N'Gazi (Algeria) Osinachi Ohale (Nigeria) Hanane Ait El Haj (Morocco) Jennifer Echegini (Nigeria) Saana Mssoudy (Morocco) Barbra Banda (Zambia) Racheal Kundananji (Zambia) Nguenar Ndiaye (Senegal) Chantelle Boye-Hlorkah (Ghana)
Los Angeles Times
2 days ago
- Business
- Los Angeles Times
Historical Horse Racing machines key to the sport's future in California are in peril
California horse racing, struggling to stay afloat, got a stark reminder how uphill its battle is to add a new form of supplemental income this month when state Atty. Gen. Rob Bonta ruled against daily fantasy sweepstakes. The decision underscored the power of Indigenous tribes when it comes to gambling in California. Bonta's ruling upholding tribal sovereignty, in conjunction with rare public comments from an influential tribal leader, puts the idea of Southern California getting Historical Horse Racing machines to bolster purses in worse shape. The sport has been in decline nationally. Dwindling foal crops, shrinking purses and a stagnant and aging fan base has pointed to California racing being on the edge of extinction. Mutuel handle, the amount of money bet, at Santa Anita this past meeting was marginally up mostly because the track's parent company killed its northern California track, Golden Gate Fields, and the California Horse Racing Board (CHRB) in conjunction with the Thoroughbred Owners of California, facilitated the end of fair racing in Northern California. The idea was that the money normally bet in Northern California, or acquired through simulcast wagering, would then be redirected to the south, so that Santa Anita and Del Mar could increase its daily purses. The solution to these problems was identified a few years ago: The sport needs to get Historical Horse Racing, which looks, feels and sounds like a slot machine, so that revenue generated by the machines could be put into purses that would attract more trainers and owners to California. The question everyone keeps asking is: What is the industry doing to get Historical Horse Racing? In February, The Times outlined five pathways to adding Historical Horse Racing in California. Now only one or two seem viable. The group that is running point on adding the machines is made up of former CHRB chair and Santa Anita official Keith Brackpool, now a consultant; Aidan Butler, president of 1/ST Racing, also known as The Stronach Group (TSG); Scott Daruty, a senior executive at TSG; Josh Rubinstein, president of the Del Mar Turf Club; and Bill Nader, president and chief executive of the Thoroughbred Owners of California. The options earlier this year were: work a deal with the tribes; roll out a limited number of machines at the tracks and ask for permission later; install up to 1,000 machines at the tracks without permission; seek legislative or ballot initiative help; or negotiate with a single tribe instead of all of them. The tribal nation's control of California gaming is solid both legally and culturally. In 1988, Congress passed the Indian Gaming Regulatory Act and ceded all authority over gaming on tribal lands to the states in which they reside. California passed laws that allowed only five types of gambling: American Indian casinos, which are allowed to have Las Vegas-style table games (except roulette) and slot machines; card clubs; charitable gambling (church bingo); the state lottery and pari-mutuel wagering connected to horse racing. In 2000, voters passed Proposition 1A, which exclusively gave the right to use slot machines to the tribes. In 2004, a state ballot initiative that would have allowed the expansion of non-tribal gambling was defeated 84% to 16%. And Bonta ruled against daily fantasy sweepstakes, reiterating the state's position on gaming. 'While the California Nations [Indian] Gaming Assn. commends Atty. Gen. Rob Bonta for standing up for the rule of law in California, it is also very clear that California has long turned a blind eye to illegal gambling — at the direct expense of tribal governments,' association chairman James Siva said. 'Untold millions if not billions have been illegally wagered over the past decade. Where is the enforcement? Where is the accountability?' This is not the ideal moment for the tracks and tribes to work out a deal. 'The chances of horse racing ramming something past the tribes is slim and none,' said Victor Rocha, conference chair of the Indian Gaming Assn. Rocha spoke to The Times as owner and publisher of a website designed to give tribal members the latest news on politics and gaming, rather than as chair of the IGA because the IGA has a separate spokesperson. 'There are times that we work together [with the tracks,] but then there are groups like The Stronach Group who try and push things through, which is the definition of a fool's errand,' Rocha said. 'Let's just say they are very ambitious,' he said. 'But I would say they don't have enough juice or enough power. They don't have enough people who care. The average age of a horse player is decomposing. This would be a desperate act by a desperate company.' The Stronach Group did not respond to The Times' requests for comment. There were no responses to multiple requests to interview Brackpool, Daruty and the attorney general. Rocha questions the value of negotiating with horse racing leaders. 'The whole argument that [Historical Horse Racing machines] will save horse racing is false,' Rocha said. 'The only thing that can save horse racing is the second coming. Can anything save horse racing? The answer is no. If you look across the country and the modern day racino [a casino and race track with shared financial interest on the same property], you see it's not about the horses. It's about the bottom line of the owners. 'It is a dying industry. They are going to have to get a ballot initiative or go through the tribes. The tribes have exclusivity for Class 3 gaming in California. And we will protect our exclusivity. The attitude is, if they go down that path [without us,] there will be a fight.' Historical Horse Racing machines are generally set up with an 8% takeout, the money that is kept by the operators and not returned to the bettors. Rocha was asked about a scenario in which 1% goes to the California breeders, 3% to racing purses and the tribes keep the remaining 4%. 'I don't know if there is a deal to be made,' Rocha replied. Adding to the frustration of the horsemen and horse players is the lack of information coming from the tracks on how they plan to address this issue and secure their future. Rocha, who checked with others in tribal groups before answering the question, said he is unaware of any contact between the tribes and the group put together to secure Historical Horse Racing. His account conflicts with what Butler, president of The Stronach Group, told The Times in May. 'I believe there are a lot of ongoing talks with industry partners,' Butler said. He added there have been conversations with a few of the tribes about the issue. Butler attributed the lack of information coming out of his working group to the sensitivity of the topic. 'You can't litigate or negotiate in the media,' Butler said. 'Some of the these are very, very delicate. You've got casinos, you've got tribal interests, you've got big gaming interests. Anything you do has to be so tactfully thought through. You'd love to say we're doing this or we're doing that, but the bottom line is anytime you put a statement out there, it's dangerous to the overall strategy. Context is everything. You don't want to say anything that a potential future partner or non-partner could get the wrong idea.' The Times talked to almost two dozen people working in the horse racing industry in search of more details about the group's actions, and none could provide insight. All members of the working group have signed a nondisclosure agreement. The CHRB is not involved in the discussions but would be the regulator that oversees Historical Horse Racing should it ever come to fruition. A little talked about option would be for a track to put forth an agenda item about adding the machines, and the CHRB could mostly rubber stamp it. In 1983, state Atty. Gen. John K. Van de Kamp, who went on to lead the Thoroughbred Owners of California, issued an opinion that said: 'The Legislature's delegation of authority to the Board covering all aspects of horseracing has been upheld by the Supreme Court.' The opinion referenced was the 1961 Supreme Court decision in the Flores vs. Los Angeles Turf Club. At issue was not HHR, which hadn't been invented, but the ability of tracks to offer horizontal wagers such as the Pick Six and not have it viewed as a 'sweepstakes,' which would not be legal. 'I think given this opinion, [the CHRB could authorize it] if it is done right,' said I. Nelson Rose, a professor, attorney and author considered one of the world's leading experts on gambling and gambling law. 'One provision is you would have to have a race meet taking place and a few other technicalities. Politically, that's really going to be difficult because the tribes have such power in the Legislature. They've got huge power. 'The tracks just can't compete politically with the tribes,' he said.' But they do have enough political juice to keep the tribes from getting some things they may want.' The CHRB recently stirred the hornet's nest of adding Historical Horse Racing. In November, CHRB Chairman Greg Ferraro told the New York Times that he expected Historical Horse Racing machines to be in California race tracks in the near future. Nine months later, the only Historical Horse Racing machines that were rolled out were on the third floor grandstand at Santa Anita, but not usable by the public. The Times asked Butler about it at the time. He then ordered the machines to be shut off and put back in storage. 'The Northern California contraction has taken an inordinate amount of time and resources, but with that behind us some effort for purse supplements could start up again,' said Scott Chaney, executive director of the CHRB. 'The CHRB is very much in favor of a purse supplement and will aid in seeking that.' Chaney would not talk about Historical Horse Racing, only the need for supplementing purses. 'We would need a few more regulations in place,' he said. 'It's a lot more complicated than just putting machines in. There is a lot of regulation no one wants to talk about.' There could be another problem. Brackpool, who came to California after pleading guilty to criminal charges relating to securities trading in Britain, headed a group called Cadiz, which wanted to mine the water under the Mojave Desert and sell it to Los Angeles water interests. The leaders of the Chemehuevi tribe, or Nuwu, opposed the project because of the aquifer's potential connection to Bonanza Spring. The spring is part of the Nuwuvi Salt Song Trail, which is considered an ancient ceremonial loop in the desert. The Salt Songs are considered sacred and are used at many ceremonies to celebrate cultural revitalization and spiritual bond. Brackpool and his company were viewed as opposing the tribes. 'If the guy comes in with baggage and if they think they want an Indian fighter, then they will get an Indian fight,' Rocha said. 'Make that a failed Indian fighter. Bring him on. ... The tribes are undefeated for 25 years.' The Stronach Group and Del Mar also opposed the tribes during a meeting with Bonta in Sacramento late last year during which they asked the attorney general to oppose the tribes and get on board for Historical Horse Racing. It didn't happen. Bonta's office previously met with Kentucky operators to try to find out if there was a legal path for Historical Horse Racing machines. His office concluded that the machines were not legal under California law, according to a person with knowledge of the meetings not authorized to speak publicly about it because of the sensitivity of the matter. Others support Rocha's contention that horse racing needs more than Historical Horse Racing to survive. 'The problem is we don't have enough bettors, enough gambling dollars going into racing,' said Marshall Gramm, chair of the economics department at Rhodes College in Memphis, Tenn., where he teaches a class on the economics of gambling. He is also a horse owner and gambler. 'If the current economic model is that we need outside revenue, then it is unsustainable. [People could ask] if racing is supported [by state subsidies], why isn't that money going to the local mill that is closing. 'I'm very worried about The Stronach Group's commitment to racing overall,' he said. 'Is there going to be someone to fill their void if they leave the business? TSG is extremely unpredictable. Tomorrow they could do something great for racing or they could do nothing. 'I would love see racing in a position of surviving without external sources of revenue.' Racing could pull a last-minute rabbit out of its hat. But it has to start with conversations with those who can help the sport. The idea of negotiating with just one tribe is still on the table, although it would likely cause problems with the other tribes. 'Even if they make a deal with one tribe, it better be the right deal,' Rocha said. 'The tribes see it as the camel's nose under the tent. 'The way to get it done is through the [attorney general]. It's the state of California that decides,' he said. 'If it's illegal, the tribes will take it to court. It took pressure from the tribes to get Bonta to make his [latest] ruling. The tribes are very protective of their exclusivity.' Most people interviewed for this article said the outlook for adding Historical Horse Racing machines in California is grim. 'The race tracks' influence is declining, but they have 70 years of history with the state legislature,' said Rose, the gambling expert. '[The state] doesn't really care about the industries, but they do care about the taxes.'
New Straits Times
4 days ago
- Sport
- New Straits Times
TSG rider claims Most Combative Rider award at Ordiziako Classic
KUALA LUMPUR: Terengganu Cycling Team's (TSG) Spanish Classics campaign continued on a positive note at the Ordiziako Classic in the Basque Country yesterday (July 25). Stefan de Bod's spirited efforts in the 167 kilometre race saw him rewarded with the Most Combative Rider award in the UCI 1.1 event which is part of the UCI European Tour. The South African joined an early breakaway and did his best to match some of the best riders in the world. But in the end, it was the big boys from UAE Team Emirates-XRG - the team of the great Tadej Pogacar - who swept the podium. Igor Arrieta claimed the win in three hours, 50 minutes and 23 seconds after pipping Giro d'Italia runner up Isaac del Toro to the line. Antonio Morgado (+16s) completed the podium. Mathias Bregnhoj was the highest placed TSG rider, crossing the line 34th (+1:18s) ahead of Vadim Pronskiy (44th, +2:18s), De Bod (59th, +4:45s) and Kee Zhe Yie (91st, +14:34s). Nur Aiman Rosli and Nur Aiman Zariff did not finish while Anatolii Budiak did not start due to a fever. De Bod, who is in his first season with TSG, was pleased with his performance. "It was a good day, we tried something a little bit different and took a chance," said de Bod. "When racing against the big teams it is difficult to get the results you want, so you have to think proactively. "I decided to go in the break during the first climb when I saw the opportunity. "Unfortunately, it did not go closer to the line. But still, I did my best and showed (highlighted) the (TSG) jersey for the team and won a small prize for the Most Combative Rider." The race featured five category-three climbs which left riders with little room for respite. TSG, who competed at the Terres de L´Ebre Classic earlier this week, will next compete at the Circuito de Getxo-Memorial Hermanos Otxoa race (172.2km) on Aug 3.
