Chennai Super Kings: Here's A Look At The Balance Sheet

The promoters of the unlisted Chennai Super Kings Ltd. have increased their stake in the company to 41.65%, up from 28.14% in March 2023. The promoters now hold 15.8 crore shares. They had 8.67 crore shares in March 2023. The equity share has a face value of Rs 0.10 (1 0 paise). 

CSK Ltd. is the owner of the Chennai franchise in the Indian Premier League. The N Srinivasan-owned CSK has now come under intense watch, especially after he called it quits by selling his entire family holding in the India Cements Ltd. to the Birla-owned UltraTech Cement Ltd.

ICL, it may be recalled, was the original owner of the Chennai franchise of the IPL team. CSK was originally a division of ICL. It was, however, spun off into a separate company when the conflict-of- interest issue hit the national headlines. The conflict-of-interest controversy arose since Srinivasan was also holding a top position at the Board of Control for Cricket in India.

Promoters of CSK Ltd. comprise EWS Finance & Investments Pvt., Rupa Gurunath, trustee (shares are held by her in the capacity as a trustee of Financial Service Trust and Securities Services Trust); N Srinivasan, Chitra Srinivasan, Rupa Gurunath, SK Ashok Baalaje and Rajam Krishnamoorthy.

During the year under review, the paid-up equity-share capital of the company increased from Rs 3.08 crore to Rs 3.79 crore, consequent to the allotment of approximately 7.13 crore equity shares of Rs 0.10 each fully paid-up upon conversion of 650 optionally convertible debentures of Rs 10 lakh each, as per the terms approved by the shareholders.

EWS Finance & Investments Pvt. is the largest owner of the CSK shares among the promoter group. The holding of EWS Finance has risen to 36.22% in March 2024, up from 21.47% in the preceding year.