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Friday, 12 February 10
TATA POWER: QUARTERLY BLIP
 Although the company’s revenues dipped in the December quarter, its long-term story is intact.
Lower power generation and realisations saw Tata Power’s net sales in the December 2009 quarter dip 12 per cent year-on-year to Rs 1,528 crore. Operating income and net profits, however, surged 42 per cent and 28 per cent to Rs 364 crore and Rs 148 crore, respectively.
The dip in realisations can be attributed to passing of lower fuel costs to consumers, while the closure of two units in Trombay meant that power generation was flat in spite of 500 Mw of capacity added in 2009. Fuel costs per unit of electricity generated declined from Rs 3.31 in the December 2008 quarter to Rs 2.46 for the latest quarter.
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“TATA is on track to nearly double its generation capacity to 5,800 Mw by end of 2011-12”
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A change in fuel mix in favour of gas led to a 26 per cent saving in fuel costs. This was partly passed to consumers resulting in realisations falling 12 per cent year-on-year to Rs 4.1 a unit in the quarter from Rs 4.7 in the year ago period. Average tariffs for merchant sales also dropped to Rs 5.37-6.21 from Rs 5.5-6.5 in previous quarters, according to analysts. Operationally, generation and sales remained flat. Overall, Earnings Before Interest, Taxes, Depreciation and Amortization margins expanded 9.5 percentage points y-o-y to 26.8 per cent (led by savings in fuel costs), though they were lower by 265 basis points sequentially.
The company is on track to nearly double its generation capacity to 5,800 Mw by end of 2011-12. Most projects are on schedule with the Maithon plant scheduled for commissioning in 2010-11 and Mundra UMPP scheduled for 2011-12. The company has received approval for its mining plan in Mandakini coal block with most formalities already been completed. Coal production is expected to start from July 2011 according to analysts. The Tubed block mining proposal has also been approved and submitted to the state government. Production is targeted from February 2012.
Tata Power is seen as a quasi-coal play given its acquisition of stake in two Indonesian coal mines of Bumi group. Bumi mined 29.3 million tonnes at an average cost of $60 per tonne in the first half of 2009-10. Coal prices have firmed by 11 per cent to about $90 per tonne since November 2009, analysts say.
Consolidated numbers due later this month will therefore be an interesting watch. Another positive is a freeing up of about 500 Mw that was earlier supplied to Reliance Infra in Mumbai. About 200 Mw will be available for merchant trading and the rest will be sold on regulated basis from April 2010.
The stock has largely performed in line with the BSE Sensex since the beginning of 2010. It ended yesterday at Rs 1,265, down by Rs 10 over Wednesday’s closing, and trades at 15.4 times consensus analyst 2010-11 EPS estimates. Analysts value the stock at Rs 1,500 on sum-of-the-parts basis which includes the company’s investments in Bumi (coal mines) and telecom among others, indicating that there is room for upside.
Source: Business-Standard
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Thursday, 25 March 10
INDIAS MAHARASHTRA SEEKS TO IMPORT 3.35 MILLION TONS OF COAL - BLOOMBERG
Bloomberg reported that, Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, is seeking 3.35 m ...
Thursday, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
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Showing 5926 to 5930 news of total 6871 |
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- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
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- MS Steel International - UAE
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- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
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- Bharathi Cement Corporation - India
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- Eastern Coal Council - USA
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- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
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- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
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- Global Business Power Corporation, Philippines
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- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
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- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
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- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
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- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
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- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
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- Australian Commodity Traders Exchange
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- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
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