HYDERABAD: Singareni Collieries Company Ltd (SCCL) has registered a record 15 percent growth in coal production in the financial year (FY) 2015-16 with 60.3 million tonne (MT) coal produced in the year. This is the highest ever growth in 127 years of SCCL’s existence.
“SCCL has achieved highest growth rate among all coal companies in India. While 3 per cent growth rate was achieved in the last five years, in FY 2015-16 we achieved 15 per cent growth. This was possible due to decrease in cost of production and increase in efficiency. While 60.3 MT coal production was done in FY 2015-16, we have set a target of 66 MT for FY 2016-17,” said N Sridhar, chairman and managing director (CMD) of SCCL briefing to media about the performance of SCCL in the past financial year in Hyderabad on Friday.
While 60.3 MT of coal was produced, 58.5 MT of coal was dispatched during the year, the highest ever in SCCL’s history.
With huge rise in production, company’s gross turnover rose by 17.3 per cent, with Rs 16,516 crore in the year. While it earned a profit of approximately Rs 1,020 crore, it paid taxes to the tune of Rs 4,651 crore. With SCCL posting inspiring growth figures, its management has laid down ambitious plans for the future.
“There are total OF 16 open cast mines and 31 unde ground mines in SCCL right now. We want to start 25 new mines with an outlay of Rs 20,000 crore in the near future, with seven of them being in the present financial year. We are also also aiming to achieve coal production target of 100 MT by 2020,” said Sridhar.
SCCL may undergo a sea change if the power generation starts at Singareni Thermal Power Plant (STPP) at Jaipur in Adilabad this year. Already synchronisation of one 600 MW plant has been completed and synchronisation of second plant will be done by May. “Commercial operation of STPP at Jaipur may start in May,” said Sridhar.
60.3 SCCL registered record 15 per cent growth in coal production in FY 2015-16
Rs 16,516 crore 17 per cent rise in gross turnover Rs 16,516 crore. Net profit jumped to Rs 1020 crore in FY 2015-16 from Rs 490 crore last year
SCCL has ambitious plans with management aiming for 100 MT of coal production by 2020
Power generation to start at 1,200 MW Singareni Thermal Power Plant at Jaipur, Adilabad district in May