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Activity:
24 views;
last activity : 07 06 2010 20:18:09 +0000
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Dont spread your self too thin...
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A lot of companies diversify and that's good. But Mr Vijay Mallya' s case is a tad bit different. His flambyont and lavish ways make him do things, maybe impulsively. He keeps buying and investing on things even without realizing the payback time. I'm sure he has a staff full of really intelligent people but the point is 'Is he taking their advice'. Like most family run empires of the past this one's too heading in direction of doom... |
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It is safe for the company but not for the creditors.So why should Vijay mallya worry?
Hi,
I completely agree with you.The current statistics also on the UB Group do not look too good.He is widely known as the king of good times. UB Group Chairman Vijay Mallya, who inherited an empire of diverse businesses at age 27, is now trying hard to show that he can be a pragmatic king of bad times, too.That explains Mallya's move to hawk a part of his family silver at a time when the combined debt of his six listed companies has touched a whopping Rs 14,231 crore, as on December 2008. The debt is now more than the group's market cap, which has slumped 78.39 per cent to Rs 9,527.74 crore as on March 3, 2009, from a peak of Rs 44,091.37 crore on January 8 last year.Some of the group's other numbers look no better. Though the group's debt-equity ratio went down from 3.29 in March 2008 to 2.42 in December 2008 (it was 1.76 in March 2006), operating cash flow at a negative Rs 354.52 crore in March 2008 has been a major concern, because it has been negative for three of the last five years. Yet, in those five years, UB went in for acquisitions worth around Rs 8,000 crore. The bulk of this money went into the acquisition of Shaw Wallace in June 2005 for Rs 1,500 crore and Scotch whisky firm Whyte & Mackay (W&M) in May 2007 for Rs 4,800 crore. Although critics say the "king" ignored the danger signals, his backers say the acquisitions were made in the long-term interests of the group...
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