CSK remains money spinner for owner India Cements

CSK remains  money spinner for owner India Cements

 IPL team Chennai Super Kings (CSK) owned by India Cements of N Srinivasan was in the news for all the wrong reasons during the sixth edition of the game, but the team continues to be a commercially-viable proposition for the company.

CSK contributed about Rs 150 crore in revenues last season and a higher amount this year, according to India Cements GM (Marketing) Chandrabhan Singh said. “The revenue this season is about 20 per cent more than last year and we hope to do better in the coming years also,” he told reporters on the sidelines of a realty marketing summit here.

The company sold merchandise worth Rs 14 crore this season, up from Rs 8.5 crore last season, he added. “The contribution from merchandise sales to total revenues will go up from the present 9 per cent to about 15 per cent in the next four years.

Sponsorship contributes about 44 per cent to the total CSK revenues while TV rights net about 30 per cent,” he said. From an EBITDA perspective, CSK contributes about Rs 35 crore to India Cements, according to an analyst at Angel Broking.

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