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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
NO AMDAL, NO COAL MINING IN KALIMANTAN: MINISTRY
To prevent further environmental damage, the government has said it would revoke the licenses of mining firms operating in Kalimantan that do not ha ...
Thursday, 04 February 10
ANTICIPATING DOMESTIC COAL DEMAND
Indonesia has an abundant amount of coal reserves, which in 2008 is estimated at 7,12 billion tones. Coal production in 2008 reached 231,18 mi ...
Wednesday, 03 February 10
CHINA'S MAIN COAL PRICES FALL AS WINTER DEMAND EASES
Weekly coal prices at China's Qinhuangdao port, a benchmark in the world's biggest producer and consumer of the fuel, fell for the first time in s ...
Wednesday, 03 February 10
NEWCASTLE COAL EXPORTS RISE 3%; SHIP QUEUE SHORTENS
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, increased 3 percent last week while the ...
Wednesday, 03 February 10
INDONESIA BUKIT ASAM SEES DOUBLE DIGIT 2010 REV GROWTH
* 2009 net profit rose an estimated 50 pct
* Sees opportunities for overseas acquisitions
Indonesian state-owned coal miner Bukit Asam saw 2009 ...
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Showing 6031 to 6035 news of total 6871 |
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- Tamil Nadu electricity Board
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- McConnell Dowell - Australia
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- Bukit Makmur.PT - Indonesia
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- The Treasury - Australian Government
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- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
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- London Commodity Brokers - England
- Mintek Dendrill Indonesia
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- Economic Council, Georgia
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- Straits Asia Resources Limited - Singapore
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- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
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- Binh Thuan Hamico - Vietnam
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- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
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- Ceylon Electricity Board - Sri Lanka
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- Oldendorff Carriers - Singapore
- Planning Commission, India
- Malabar Cements Ltd - India
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- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
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- Kepco SPC Power Corporation, Philippines
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
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- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
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- Formosa Plastics Group - Taiwan
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- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
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- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
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- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
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- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
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