The management of Singareni Collieries Company Ltd (SCCL), which is into thermal and solar power generation as diversification besides the core activity of coal mining, is aiming for a record turnover of ₹27,000 crore from coal and energy sales this financial year.
Confidence of the company to achieve the target stems from its performance in the first three quarters of the current fiscal in which the company has recorded a turnover of ₹19,002 crore from coal and energy sales against ₹9,525 crore achieved during the same period in the previous financial year hit by COVID pandemic and its impact on the economy.
The company, as part of its plans to reach the production target of 68 million tonnes, has fixed a daily target of mining at least 2.2 lakh tonnes of coal till March 31. As of December-end, three quarters of the fiscal, Singareni has achieved a production of 46.52 million tonnes coal.
Further, the management has also decided to scale-up the work hours of heavvy machinery used in mining to 18 hours a day from the present 13-14 hours a day to achieve the production and turnover targets. Except in December (2021-22), the coal production was higher in the remaining eight months of the three quarters of the fiscal compared to the first nine months of the 2020-21 fiscal. The production of coal in December 2021 was 5.65 million tonnes and against 5.72 million tonnes mined in December 2020.
According to SCCL officials, the company has achieved a turnover of ₹16,110 crore from coal sales and ₹2,892 crore from energy sales till December-end this fiscal against ₹9,525 crore and ₹2,461 crore achieved till the same time during the last fiscal with a growth rate of 69% and 17%, respectively. Together, the growth rate in turnover so far is 58% compared to the last fiscal, when the turnover was ₹11,986 crore in three quarters.
In power generation, the Singareni Thermal Power Plant (STPP), a unit of SCCL, has generated 6,904 million units of energy in the first three quarters of the current fiscal against 5,353 million units generated during the same period of the last fiscal with a growth rate of 30% in terms of generation.
The company hopes to generate more turnover from energy sales in the last quarters as the power consumption would generally go up during the last quarter of a fiscal.
