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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, 14 January 10
INDIANS RESUME S. AFRICA COAL BUYING AGAINST INDEX - REUTERS
Indian trade buyers have resumed buying of South African prompt coal cargoes after a two-month hiatus but are opting for index-linked pricing, hopin ...
Wednesday, 13 January 10
STEAMING COAL SUPPLY SPOT CONTRACT FOR TAEAN POWER PLANT
COALspot.com (South Korea): Korea Western Power Co., Ltd is looking for total 1.12 million tons of Bituminous Coal for TAEAN Power Plant.
Accord ...
Wednesday, 13 January 10
INDONESIA ISSUES COAL, METAL DECREE
Indonesia has issued a ministerial decree which requires metal and coal miners to set aside a certain amount of their production for domestic needs, ...
Wednesday, 13 January 10
RESTING TIME FOR INDONESIAN COAL LOADING VESSELS
COALspot.com (Indonesia): 11 - 15 vessels are waiting in anchorages of Muara Berau and Tanjung Pemancingan to load total about 700,000 – ...
Wednesday, 13 January 10
SOUTH AFRICA STEAM COAL PRICE FALLS SHARPLY
Reuters reported that South African physical coal prices fell sharply on Tuesday with a March cargo trade at USD 87.5 a tonne FOB Richards Bay and d ...
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Showing 6091 to 6095 news of total 6871 |
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- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- The University of Queensland
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- CNBM International Corporation - China
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