Singareni Collieries Company Ltd (SCCL) has achieved a growth enviable to even 'Maharatna' companies, eight Central Government public sector undertakings, during the last five years as reflected in the numbers put out by the management.
According to officials of the 130-year-old coal company, SCCL has achieved a turnover of ₹25,828 crore in 2018-19 against ₹11,928 crore in 2013-14 with a growth rate of over 116.53%. Similarly, the company has clocked increase of nearly 282% in its profits as its profit after tax has gone up to ₹1,600 crore in 2018-19 from ₹419 crore in 2013-14.
Comparing the performance of Singareni with the figures of sales and profits of the Maharatna companies the SCCL officials explained that Indian Oil Corporation was the best performer among the eight companies by achieving a growth rate of 104.5% in profits. Other Maharatna companies – Gas Authority of India (49%), Oil & Natural Gas (36.5%), Bharat Petroleum (31.2%) Coal India (0.6%) – could achieve much less.
Other companies
Similarly, in terms of sales/turnover Coal India has achieved 55.1% growth followed by ONGC (30.9%), GAIL (28.6%), NTPC (26.5%), BPCL (24.4%), IOCL (23.8%) and BHEL (2%), the officials of SCCL claimed. “The growth trajectory of SCCL has increased sharply after formation of Telangana State with the cooperation and support of the State Government. The numbers reflect the hard work of every employee of Singareni. Their welfare has also been on the rise with the support of the Chief Minister”, a senior executive of the company stated.
He explained that sops such as interest-free loans up to ₹10 lakh for construction of own houses, employment on compassionate grounds to the kin of medically unfit workers, modernisation of hospitals and canteens and provision of air conditioners to workers' quarters have gone well with the team helping in improving performance.
Employee welfare
Further, the company was also paying fee for higher studies to children of workers, corporate medical services up to ₹5 lakh for retired workers and spouse, 27% of profit share as bonus to workers were some other welfare measures taken up during the last five years, he noted.
Reacting on the the achievement of the company, Chairman and Managing Director of SCCL N. Sridhar said: “The achievement of growth rate of nearly 282% in profits and over 116.5% in sales was possible only with the team work of workers and other staff. Our immediate goal is to achieve the target of 70 million tonnes of coal production in 2019-20 and aiming for 100 million tonnes production by 2025”.
Coal blocks
He thanked the Chief Minister K. Chandrasekhar Rao for his support in getting permissions for Naini and New Patrapada cloal blocks in Odisha and for pursuing allotment of more coal blocks to SCCL in Jharkhand, Madhya Pradesh and Chhattisgarh States.
