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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, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
* Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of ...
Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
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Showing 6011 to 6015 news of total 6871 |
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- Planning Commission, India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
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