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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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- Larsen & Toubro Limited - India
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- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
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- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
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- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
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- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- White Energy Company Limited
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Australian Coal Association
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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