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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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Saturday, 30 January 10
THE ECI / CHINA (S7) ROUTE SOFTENED BY $ 5,736 AND CLOSED AT $ 27,360 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week probably in anticipation of Chinese New year holidays.
BDI INDEX
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Saturday, 30 January 10
INDONESIA TO CONSTRUCT 93 POWER PLANTS IN 2ND PROJECT
The government has announced its list of 93 power plants to be built under the second 10,000-megawatt (MW) power generation scheme.
"With th ...
Saturday, 30 January 10
COAL FIRMS TO KEEP NATION IN THE BLACK
Some Indonesian coal mining companies on Friday pledged to allocate a greater share of their production this year to meet domestic market obligation ...
Friday, 29 January 10
INDIA STEAM COAL IMPORTS TO DOUBLE, BOOST SOUTH AFRICA
* SAfrica seen shipping 75 pct of its coal to Asia in 2010
* Logistics woes hamper SAfrica exports, India imports
India's steam coal imports ar ...
Thursday, 28 January 10
THE IRON ORE EXPORTS FROM INDIA TO CHINA ARE DOWN AND THE RATES DROPPED
HANDY
The BSI has continued its downward trend confirming the softening of the Atlantic since the previous week and reflecting a correction of the ...
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Showing 6041 to 6045 news of total 6871 |
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- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
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