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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, 18 February 10
THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
HANDY
The BSI still decline as holidays around the world have reduced trading.
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Thursday, 18 February 10
COAL MINERS FACE SHUTDOWN OVER RECLAMATION FUNDING
Three coal mining companies may be forced to temporarily stop operations this year if they fail to provide funding for a site-reclamation program.
...
Thursday, 18 February 10
DECOUPLING FROM OIL PRICES ON STRONG GLOBAL ENERGY DEMAND
A recent coal market conference in Singapore focused on two main issues –— the demand for coal as a source of energy, and coal pricing.& ...
Thursday, 18 February 10
INDONESIA TO INVITE BIDS FOR $1.5 BLN COAL RAILWAY IN MAY
Indonesia plans to invite investors to bid for contracts to build a $1.5 billion coal railway line in Central Kalimantan, a planning ministry offici ...
Thursday, 18 February 10
INDONESIA ZONING RULE THREATENS MINING - INDUSTRY
Reuters reported that, confusion over a new Indonesian land use regulation could halt the operations of some mining firms, providing a new threat to ...
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- Bhoruka Overseas - Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
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- Petron Corporation, Philippines
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Indian Energy Exchange, India
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- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
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