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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, 03 February 10
RECOVERY IN INDONESIAN MINING SECTOR EXPECTED TO BOOST SALES, UNITED TRACTORS SAYS
PT United Tractors, the country’s biggest supplier of heavy equipment, said on Tuesday that it expected sales to increase 15 percent this year ...
Tuesday, 02 February 10
THAI BANPU SAYS HIGHER COSTS TO HIT COAL PROFITS
Thailand's top coal miner, expects profits from its coal business in 2010 to be lower than last year due to higher costs, but its chief executive i ...
Monday, 01 February 10
CIL PLANS TO INVEST IN OVERSEAS COAL MINES
Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants
The bo ...
Sunday, 31 January 10
AUSTRALIA NEWCASTLE THERMAL COAL FALLS 0.7 PERCENT TO $ 98.53
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 0.7 percent, falling for the first time in four weeks. ...
Sunday, 31 January 10
NTPC TO IMPORT COAL
NTPC Ltd plans to import coal directly, starting next fiscal.
“We plan to import 15-16 million tonnes of coal directly from next year,&rdqu ...
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Showing 6036 to 6040 news of total 6871 |
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- CNBM International Corporation - China
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- Binh Thuan Hamico - Vietnam
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- Eastern Coal Council - USA
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
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- Trasteel International SA, Italy
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- Energy Link Ltd, New Zealand
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- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
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- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
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- Meenaskhi Energy Private Limited - India
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- Tata Chemicals Ltd - India
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- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
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- Port Waratah Coal Services - Australia
- PTC India Limited - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
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- Goldman Sachs - Singapore
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- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
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- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
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- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
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- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
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- The Treasury - Australian Government
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- The University of Queensland
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- Indonesian Coal Mining Association
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- Chamber of Mines of South Africa
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- Madhucon Powers Ltd - India
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- Planning Commission, India
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- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
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- Electricity Authority, New Zealand
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- London Commodity Brokers - England
- MS Steel International - UAE
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- Jaiprakash Power Ventures ltd
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
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