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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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Wednesday, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
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Showing 6011 to 6015 news of total 6871 |
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- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Australian Coal Association
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- The University of Queensland
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
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