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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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Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
Friday, 19 March 10
COAL INDIA TO HIT CAPITAL MARKETS IN JULY
India’s largest coal producer, Coal India Ltd (CIL), expects to hit the capital markets by July, company chairman Partha S. Bhattacharyya said ...
Thursday, 18 March 10
COAL IMPORTS SOAR IN NANTONG PORT OF JIANGSU PROVINCE CHINA
BloombergUTV reported that, Coal imports at Nantong Port, located in coastal China's Jiangsu Province, soared 13 times to 581,000 tonnes in the fir ...
Thursday, 18 March 10
INNER MONGOLIA TO CAP COAL OUTPUT AT 700 MLN TONS IN 2010
Alibaba / China Knowledge reported that, Inner Mongolia, China's northern border autonomous region, plans to control coal output at 700 million ton ...
Thursday, 18 March 10
THE INDIAN MARKET WAS QUIET, BUT BECAUSE OF THE TIGHT TONNAGE SITUATION STILL FIRM - FEARNLEYS AS
Handy
Activity continues to be solid in the Atlantic.
Supramax physical market is strong which pushed the BSI to a 17 month high at ...
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- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Siam City Cement - Thailand
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- The State Trading Corporation of India Ltd
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- Semirara Mining Corp, Philippines
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- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
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