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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, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
Thursday, 04 February 10
RI TO GRADUALLY STOP COAL EXPORTS
Indonesia, which over the past few years has become the world`s third largest coal exporter after Australia and China, is planning to gradually stop ...
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Showing 6026 to 6030 news of total 6871 |
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- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- PTC India Limited - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Siam City Cement - Thailand
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