Tilaknagar Ind looks to build brand again
Liquor company Tilaknagar Industries will step up investments in its brandy and gin lines during this financial year now that the firm has prepaid its restructured debt, freeing up additional cash for brand building.
On Friday, the producer of Mansion House brandy and Blue Lagoon gin revealed that it had fully repaid its restructured debt to Edelweiss Asset Reconstruction Co. (EARC).
According to a filing to the exchanges, the company said the total restructured debt amounting to ₹176.22 crore as of 30 June, has been settled.
“The prepayment has been funded by a debt of ₹130 crore from Kotak Mahindra Bank as well as the internal accruals of the company," it said.
Debt refinancing has facilitated the company's entry into conventional banking, and granting immediate flexibility in managing cash flows, paving the way for more investments in brand building, the company said.
Consequently, the company will be investing in core brands including Mansion House, the flavoured brandy, besides Blue Lagoon, said Amit Dahanukar, the chairman and managing director of Tilaknagar Industries. “As we move forward and cash flows become robust, and balance sheet is stronger, our ability to in behind our brands and categories will increase."
“Even in FY25, we will be seeing a similar rise in investments. The money we save on finance costs, we will put behind our brands," said Dahanukar.
Liquor companies typically promote brands via surrogate ads, besides in-stores campaigns in bars and cafes. For instance, Tilaknagar recently rolled out a campaign for Mansion House packaged drinking water.
Earlier this year, it picked up a 10% stake in graft gin maker Spaceman Spirits Lab Pvt Ltd (SSLPL), which sells the premium Samsara craft gin brand.
While, the company is looking to focus on its core brandy business, it seeks to tap emerging trends in the industry, said Dahanukar. “We have investments made in craft gin Samsara, which is an emerging category. We have also invested in a ready-to-drink alco-bev product that will be rolled out in mid-August. As a company we develop categories other than brandy, but we are brandy-first company—90% of our volumes are from brandy and I don't expect that to change in the near term."
The company posted ₹1,164 crore in revenues in FY23, selling 964,000cases of spirits. In March 2019, its gross debt was at ₹1,199 crore, which declined to ₹239 crore in June 2023. It posted profit of ₹149.9 crore in the last fiscal year.
Source: Live Mint
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The BJP MP Who Abused BSP's Danish Ali is A Lawyer
Since Friday morning, Bharatiya Janata Party's (BJP) Delhi Member of Parliament (MP) Ramesh Bidhuri's name has been trending on X, previously Twitter, in India and across news channels. Reason: His offensive diatribe in Lok Sabha against Bahujan Samaj Party (BSP) MP Danish Ali, which had to be expunged by the Speaker.
ALSO READ | Amid Outrage Over Bidhuri's Offensive Speech, Harsh Vardhan Gets ‘Trapped', Trends on X | Know Why
Such was his statement that Defence Minister Rajnath Singh had to stand up and apologise in the house, Lok Sabha Speaker Om Birla had to issue a stern “warning” and his party president JP Nadda had to issue a show-cause notice asking why action should not be initiated against him.
Beyond the borders of the National Capital Region (NCR), Bidhuri isn't a familiar face. So who is he?
This is not the first instance of the MP being on the wrong side. He has a history of controversial remarks.
Last year, when a parent went to seek help from him in a matter related to school, Bidhuri allegedly replied, “Why do you give birth to a child in the first place?”
This sparked off a huge furore which eventually died down.
He also sparked off another controversy when he made a similar communal statement. He said, “Wherever Muslims are in the minority, we speak of human rights. But wherever they are in the majority, violence breaks out.”
In 2019, at a meeting in Mehrauli, Bidhuri had called the Aam Aadmi Party (AAP) chief a b***** (pimp). He said it in the presence of Union Minister Giriraj Singh. He stood by his comment even later saying, “I will say this again and again, I don't think I said anything wrong.”
In 2015, women MPs had complained against Bidhuri's “sexist and abusive language” in the Lok Sabha.
Ranjeet Ranjan, Congress MP from Supaul in Bihar, had officially complained to the Speaker about his “abusive” language against her. Nationalist Congress Party (NCP) MP Supriya Sule, then Congress MP from Silchar Sushmita Dev, Trinamool Congress's Arpita Ghosh from Balurghat constituency, and CPI(M)'s PK Shreemathi Teacher-Lok Sabha MP from Kannur had accompanied Ranjan to the Speaker's room.
Bidhuri was elected to Parliament in 2014 and subsequently in 2019 from the South Delhi constituency. Earlier, he had a long stint as a Delhi politician as an MLA from Tughlaqabad from 2003 to 2014. He is known for the way he speaks.
He completed his LLB from Ch. Charan Singh University, Meerut, after his graduation in commerce (B.Com) from Delhi University. He has been an active member of the Akhil Bharatiya Vidyarthi Parishad (ABVP) — the student's wing of the Rashtriya Swayamsevak Sangh (RSS) — since 1983. He was the BJP's District President from 1997 to 2003 and later worked actively as the Vice-President of BJP Delhi from 2003 to 2008.
ALSO READ | BJP Issues Show Cause Notice To Bidhuri For His Objectionable Remarks Against Danish Ali In LS
His Lok Sabha profile mentions ‘farmer' and ‘businessperson', too, as his professions. However, little is known about his farming activities. However, he was critical of sections of farmers who held a year-long farmer protest that blocked the Delhi borders.
Last year, the Delhi Police had lodged a first information report (FIR) against three relatives of Bidhuri for allegedly trying to extort Rs 1 crore from a businessman in south-east Delhi. At that time, the MP claimed he wasn't aware of it.
According to the complaint, Bidhuri and his associates abused and assaulted a man and also threatened him with a revolver at a function on June 26, 2004. In 2019, Bidhuri was let off. He, along with others, was accused in a case of rioting and instigating the public to attack police personnel during a protest in 2006. However, a Delhi court discharged them in 2018 for want of evidence.
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Cong Condemns Bidhuri's Remarks Against BSP MP
The Congress on Friday strongly condemned BJP MP Ramesh Bidhuri's objectionable remarks in the Lok Sabha against BSP parliamentarian Danish Ali and demanded his immediate suspension from the House.
Describing the remarks as an insult to all MPs, Congress general secretary Jairam Ramesh said the apology offered by Union Minister Rajnath Singh was a ”mere eyewash” and not acceptable.
”It is an absolute shame what Bidhuri has said. Rajnath Singh's apology is simply not acceptable. It is a half-hearted apology, it was an afterthought.
”What Bidhuri has said is an insult to Parliament and makes a mockery of what the prime minister keeps repeating 'Sabka Saath, Sabka Vikaas, Sabka Sabka Vishvaas, Sabka Prayas' which becomes all 'bakwaas' (nonsense),” Ramesh told reporters here when asked about the issue.
Bidhuri made certain objectionable remarks targeted at Ali on Thursday night during a discussion in the Lok Sabha on the success of the Chandrayaan-3 mission.
”What Bidhuri has said is an insult to all of us. Strictest possible action should be taken against this MP. If this is not a case for suspension (then what is). Sanjay Singh and Raghav Chadha (of AAP) stand suspended for exercising their democratic right of protest inside Parliament and Mr Bidhuri has spoken in a language that is an insult not only to Danish Ali but also to every MP and every Indian,” the Congress leader said.
Ramesh said the defence minister's apology is an ”eyewash” and the strongest possible action must be taken against Bidhuri. The remarks were expunged from Parliamentary records and Defence Minister Rajnath Singh had immediately expressed regret for Bidhuri's behaviour in the House.
Strongly condemning the remarks, the Congress leader asserted that Bidhuri must be immediately suspended and he should also tender an apology.
”During the special session, the prime minister gave various speeches, saying a 'new chapter will be opened, new energy will be infused' but Ramesh Bidhuri has shown what the BJP's intention and agenda is,” he said.
Lok Sabha Speaker Om Birla on Friday took ”serious note” of the objectionable remarks made by Bidhuri in the House and warned him of ”strict action” if such behaviour is repeated in the future, officials said.
Bidhuri's remarks targeting Bahujan Samaj Party (BSP) member Kunwar Danish Ali during a discussion on the ”success of Chandrayaan-3” in the Lok Sabha triggered a furore, with opposition leaders calling for strict action against him.
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Two ex-Ministers laugh on as BJP MP abuses SP's Danish Ali
Former Health Minister Harsh Vardhan issued a clarification on Friday amid outrage over his reaction to communal remarks against a BSP lawmaker. BJP MP Ramesh Bidhuri had triggered a massive controversy after making a slew of communal remarks against Danish Ali during a Parliament address. Videos of the now expunged remarks have gone viral on social media with many taking umbrage at the reaction of former Union Ministers Harsh Vardhan and Ravi Shankar Prasad.
“It is a notorious and fabricated story filled with negativity and is being used by some vested political elements on social media to tarnish my image," the former Health Minister insisted in a lengthy Twitter statement.
While he was witness to the “jugglery of words" alongside the entire House, the lawmaker insisted that he ‘could not clearly hear what was being said'.
Source: Live Mint
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Considering leaving Parliament
On BJP MP Ramesh Bidhuri's remarks, Bahujan Samaj Party (BSP) MP Danish Ali told reporters that he was considering leaving the Parliament. Danish Ali wrote to Lok Sabha Speaker Om Birla regarding the BJP MP Ramesh Bidhuri's communal remarks in the Lok Sabha adding that it was "heartbreaking" to him as a minority member.
Bidhuri's communally insensitive remarks, made during the discussion on the Chandrayan-3 Mission in Lok Sabha, have been expunged from the proceedings.
Breaking down, tearing up while talking to media, Bahujan Samaj Party (BSP) MP Danish Ali said, “When this is the condition of an elected member like me then what will be the condition of a normal person."
The BSP MP said that he is considering leaving the Parliament, “I hope, I will get justice, Speaker will conduct an enquiry or else with a heavy heart, I'm also thinking of leaving this Parliament because this can't be tolerated."
"Is this why we are elected, is this why our ancestors sacrificed their lives for freedom... they (BJP) just did not insult me and my followers but they insulted the whole nation... now let's see if BJP is taking any action against Ramesh Bidhuri or if he will be promoted and included in the central cabinet of ministers...maybe it has become a competition among BJP leaders to make such statements not just outside but even inside the Parliament" Danish Ali added.
Source: Live Mint
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