MIRA
INFORM REPORT
|
Report Date : |
15.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
THE SINGARENI COLLIERIES
COMPANY LIMITED |
|
|
|
|
Registered Office : |
Kothagudem Collieries, District Khammam - 507101, Andhra Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
23.12.1920 |
|
|
|
|
Com. Reg. No.: |
01-000571 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U10102AP1920SGC000571 |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACT8873F |
|
|
|
|
Legal Form : |
A closely held public limited liability company |
|
|
|
|
Line of Business : |
Coal Mining |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 120000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed large company, jointly owned
by state and central government. Trade relations are fair. Payments are
reported as slow perhaps due to bureaucratic slowness and lengthy procedures
for releasing money. However, dues can be regarded as safe due to the
exposure of government. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
Management non co-operative name not disclosed.
LOCATIONS
|
Registered Office : |
Kothagudem Collieries, District Khammam - 507101, Andhra Pradesh |
|
Tel. No.: |
91-8744-242873/242301 to 242304 |
|
Fax No.: |
91-8744-242393/242305 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branches : |
Singareni Bhavan, Red Hills, PB. No.18, Khiratabad PO, |
|
Tel No: |
91-40-23397775 |
|
Fax No: |
91-40-23307653 |
DIRECTORS
As On 29.12.2009
|
Name : |
Mr. Narsing Rao Singayapalli |
|
Designation : |
Chairman and Managing Director |
|
Address : |
K-7/5, 3rd Floor, Kundanbagh Government.Quarters, Begumpet,
|
|
Date of Birth/Age : |
03.05.1958 |
|
Date of Appointment : |
18.09.2006 |
|
DIN No.: |
00800362 |
|
|
|
|
Name : |
Mr. Paritala Vasudeva Rao |
|
Designation : |
Director (Operations) |
|
Address : |
37B, SBH Colony, Saidabad, |
|
Date of Birth/Age : |
17.09.1946 |
|
Date of Appointment : |
30.09.2006 |
|
|
|
|
Name : |
Mr. Jammalamadaka Venkata Dattatreyulu |
|
Designation : |
Whole Time Director |
|
Address : |
SOB No.1, Bunglows Area, L.D.Palli, Kothagudem – 507 101, Khammam, |
|
Date of Birth/Age : |
14.04.1953 |
|
Date of Appointment : |
01.09.2004 |
|
DIN No.: |
00109732 |
|
|
|
|
Name : |
Mr. Abhiram Sharma |
|
Designation : |
Director |
|
Address : |
At/PO – Mokar, Jehanabad, |
|
Date of Birth/Age : |
06.08.1947 |
|
Date of Appointment : |
08.02.2005 |
|
|
|
|
Name : |
Mr. Sanjiv Kumar Mittal |
|
Designation : |
Director |
|
Address : |
A-76, Sector – 61, Noida – 201 301, Uttar Pradesh. |
|
Date of Birth/Age : |
08.08.1963 |
|
Date of Appointment : |
10.02.2005 |
|
|
|
|
Name : |
Mr. Kuljit Singh Kropha |
|
Designation : |
Director |
|
Address : |
D-1, 39, Bharti Nagar, |
|
Date of Birth/Age : |
19.12.1957 |
|
Date of Appointment : |
26.04.2005 |
|
DIN No.: |
00033155 |
|
|
|
|
Name : |
Mr. Raja Rao Eluripati |
|
Designation : |
Whole Time Director (Electrical and Mechanical) |
|
Address : |
QR.No.J-3, Bungalows Area, L.D.Palli, Kothagudem – 507 101, Khammam,
Andhra Pradesh. |
|
Date of Birth/Age : |
04.12.1950 |
|
Date of Appointment : |
01.03.2006 |
|
|
|
|
Name : |
Mr. Venkata Krishna Reddy EDA |
|
Designation : |
Whole-Time Director (Finance) |
|
Address : |
S-4, Bungalows Area, L.D.Palli, Kothagudem – 507 101, Khammam, |
|
Date of Birth/Age : |
24.08.1961 |
|
Date of Appointment : |
10.06.2006 |
|
DIN No.: |
10.06.2006 |
|
|
|
|
Name : |
Mr. Ippagunta Yashodhara Ramakrishna Rao |
|
Designation : |
Director |
|
Address : |
Plot.No.182, Road No.72, Jubilee Hills, |
|
Date of Birth/Age : |
22.01.1956 |
|
Date of Appointment : |
23.06.2006 |
|
Date of Cessation : |
28.07.2009 |
|
DIN No.: |
00481367 |
|
|
|
|
Name : |
Mr. Busani Venkateswar Rao |
|
Designation : |
Whole-Time Director (P.A.and W) |
|
Address : |
DD Colony, Bagh Ambarpet, |
|
Date of Birth/Age : |
02.12.1959 |
|
Date of Appointment : |
04.08.2006 |
|
|
|
|
Name : |
Mr. Leela RamaKrishna Prasad Doddapaneni |
|
Designation : |
Whole –Time Director (Planning and Projects) |
|
Address : |
SOB No.2,Bungalows Area, L.D.Palli, Kothagudem – 507 101, Khammam, |
|
Date of Birth/Age : |
17.11.1956 |
|
Date of Appointment : |
01.10.2006 |
|
DIN No.: |
00800519 |
|
|
|
|
Name : |
Mr. Sashidhar Lingampally |
|
Designation : |
Whole-Time Director (Personnel, Administration and Welfare) |
|
Address : |
Flat No.31, Officers Transit Hostel, New Type, Kundanbagh, Begumpet, |
|
Date of Birth/Age : |
24.09.1961 |
|
Date of Appointment : |
05.07.2007 |
|
Date of Cessation : |
21.06.2009 |
|
DIN No.: |
01057939 |
|
|
|
|
Name : |
Mr. Deepak Kumar Panwar |
|
Designation : |
Director |
|
Address : |
8-2-601/P/22, Road No.10, Panchavati Colony, Banjara Hills, 500 034, Andhra Pradesh. |
|
Date of Birth/Age : |
12.03.1950 |
|
Date of Appointment : |
18.08.2007 |
|
|
|
|
Name : |
Mr. Dinesh Chandra Garg |
|
Designation : |
Director |
|
Address : |
CMD’s Bungalows, Koyla Vihar, Civil Lines, |
|
Date of Birth/Age : |
12.11.1954 |
|
Date of Appointment : |
21.09.2007 |
|
DIN No.: |
00267658 |
|
|
|
|
Name : |
Mr. Kailash Chand Samria |
|
Designation : |
Director |
|
Address : |
M-2795, Netaji Nagar, |
|
Date of Birth/Age : |
13.11.1969 |
|
Date of Appointment : |
25.09.2007 |
|
DIN No.: |
01812933 |
|
|
|
|
Name : |
Mr. Ashok Kumar Goel |
|
Designation : |
Director |
|
Address : |
Flat No.711/811, Teja Block, My Home, Navadweepa Apartment, Near
HI-Tech City, |
|
Date of Birth/Age : |
03.12.1949 |
|
Date of Appointment : |
11.10.2007 |
|
DIN No.: |
02719061 |
|
|
|
|
Name : |
Mr. D. L. R. Prasad |
|
Designation : |
Director (P and P) |
|
Tel No : |
91-8744-242602 |
|
Fax No : |
91-8744-243108 |
|
|
|
|
Name : |
Mr. I. V. N. Prasada Rao |
|
Designation : |
Director (E and M) |
|
Tel No : |
91-8744-245005 |
|
Fax No : |
91-8744-242305 |
|
|
|
|
Name : |
Mr. S. Vivekanand |
|
Designation : |
Director (PA and W) |
|
Tel No : |
91-8744-245005 |
|
Fax No : |
91-8744-242305 |
|
|
|
|
Name : |
Mr. Venkata Nageswara Prasada Rao Illendula |
|
Designation : |
Whole Time Director (Electrical and Mechanical) |
|
Address : |
Bunglow No. J 3, Bungalows Area, Kothagudem – 507101, Khammam
District, |
|
Date of Birth/Age : |
20.09.1951 |
|
Date of Appointment : |
19.03.2008 |
|
DIN No.: |
02115401 |
|
|
|
|
Name : |
Mr. Gurnurkar Sudhir |
|
Designation : |
Director |
|
Address : |
16-11-20/7/A, Suyog, |
|
Date of Birth/Age : |
13.06.1952 |
|
Date of Appointment : |
28.07.2009 |
|
DIN No.: |
00887359 |
|
|
|
|
Name : |
Mr. Venkata Ramana Koneru |
|
Designation : |
Whole Time Director |
|
Address : |
1-2-597/28/404, GVS, |
|
Date of Birth/Age : |
14.06.1962 |
|
Date of Appointment : |
10.08.2009 |
|
DIN No.: |
02585124 |
|
|
|
|
Name : |
Mr. Ashok Kumar Goyal |
|
Designation : |
Director |
|
Address : |
Flat No. 355, Road No. 23A, Jubiliee Hills, |
|
Date of Birth/Age : |
03.10.1950 |
|
Date of Appointment : |
11.10.2007 |
|
Date of Cessation : |
14.07.2009 |
|
DIN No.: |
00960992 |
KEY EXECUTIVES
|
Name : |
Mr. Janamanchi Rama |
|
Designation : |
Company Secretary |
|
Address : |
MA-8, Near Central Workshop, Writers Basthi, Kothagudem – 507 101,
Khammam, |
|
Date of Birth/Age : |
04.05.1956 |
|
Date of Appointment : |
20.11.1995 |
|
Pan No.: |
AAYPJ0049E |
|
|
|
|
Name : |
Mr. S. Narsing Rao, IAS |
|
Designation : |
C and MD, SCCL |
|
Tel No : |
91-40-23393746 |
|
Fax No : |
91-40-23393746 |
|
|
|
|
Name : |
Dr. T.R.K.Rao IRTS |
|
Designation : |
ED(M and M,PR and Finance) |
|
Tel No : |
91-40-23316171 |
|
Fax No : |
91-40-23307653 |
|
|
|
|
Name : |
Mr. Surendra Pandey IFS |
|
Designation : |
Advisor (Forestry) |
|
Tel No : |
91-8744-249402 |
|
|
|
|
Name : |
Mr. B. Ramesh Kumar |
|
Designation : |
CGM (CP & P) |
|
Tel No : |
91-8744-243108 |
|
Fax No : |
91-8744-243108 |
|
|
|
|
Name: |
Mr. S. Chandrasekhar |
|
Designation : |
SO to C & MD |
|
Tel No: |
91-40-23391761 |
|
Fax No: |
91-40-23307653 |
|
|
|
|
Name : |
Mr. B. Nagya |
|
Designation : |
ED (Coal Movement) |
|
Tel No : |
91-40-23316171 |
|
Fax No : |
91-40-23307653 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 29.12.2009
|
Names of Shareholders |
No. of Shares |
|
The Governor of Andhra Pradesh |
885599139 |
|
The President of |
847559997 |
|
The South Arcot diocesan Corp.Private limited – |
6440 |
|
Tyeb Abdeally Attari |
1120 |
|
Lt.Col.M. Mathew |
1012 |
|
Ronald Duttson |
1000 |
|
Dave Mahendra Harilal |
1000 |
|
Lalitha Virendra Dalal |
1000 |
|
Rafiuddin Gyasuddin Halim |
1000 |
|
T. Nagalakshmi Ammal |
886 |
|
Ashrafunissa Begum |
868 |
|
Coomi Minocher Parakh |
824 |
|
Minu Savakshah Davar |
746 |
|
Chief Manager, Bank of |
700 |
|
Jayashri Ushakant Ladiwala |
668 |
|
Rajani Shirish Patel |
668 |
|
Ratnapal D Shah |
633 |
|
Ramesh Ramanlal Saraiya |
593 |
|
Pratap Ramanlal Saraiya |
593 |
As On 29.12.2009
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Government ( Central and State) |
|
100.00 |
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Coal Mining |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS (As On 31.03.2010)
|
Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
Coal |
|
Lakh tones |
476.78 |
504.29 |
GENERAL INFORMATION
|
No. of Employees : |
Around 75753 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
M. Anandam and Company Chartered Accountant |
|
Address : |
7A, |
|
Tel. No.: |
91-40-27812377/27812034 |
|
Fax No.: |
91-40-27812091 |
|
Website : |
|
|
Pan No: |
AACFM8791J |
|
|
|
|
Associates/Subsidiaries : |
CIN: U29219AP1976SGC002071 |
|
|
|
|
Joint Venture |
|
CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1800000000 |
Equity Shares |
Rs. 10/- Each |
18000.000
millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1733198119 |
Equity Shares (includes 632145 equity shares of Rs. 10/- each allotted as bonus shares
by capitalization of general and capital reserve |
Rs. 10/- Each |
17331.981 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
17331.981 |
17331.981 |
17331.981 |
|
|
2] Reserve for future overburden removal |
5886.404 |
4173.454 |
1578.238 |
|
|
3] Reserves & Surplus |
8913.553 |
7041.863 |
6119.075 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
32131.938 |
28547.298 |
25029.294 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4643.366 |
6188.206 |
8627.074 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
4643.366 |
6188.206 |
8627.074 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
968.918 |
|
|
|
|
|
|
|
|
TOTAL |
36775.304 |
34735.504 |
34625.286 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
32780.221 |
27244.396 |
23801.038 |
|
|
Capital work-in-progress |
3745.269 |
3468.261 |
3121.198 |
|
|
|
|
|
|
|
|
INVESTMENT |
194.176 |
194.201 |
194.201 |
|
|
DEFERREX TAX ASSETS |
4435.058 |
1097.624 |
0.000 |
|
|
Advance action for overburden removal |
4917.426 |
3230.348 |
2403.066 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3483.146
|
2613.935 |
2402.109 |
|
|
Sundry Debtors |
2992.589
|
2687.422 |
1653.393 |
|
|
Cash & Bank Balances |
15699.780
|
16065.166 |
15500.547 |
|
|
Other Current Assets |
518.846
|
581.531 |
278.478 |
|
|
Loans & Advances |
11357.970
|
8014.819 |
5241.166 |
|
Total
Current Assets |
34052.331
|
29962.873 |
25075.693 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6733.369
|
11727.944 |
9157.261 |
|
|
Other Current Liabilities |
9293.992
|
7495.283 |
6349.625 |
|
|
Provisions |
27321.816
|
11238.972 |
6288.285 |
|
Total
Current Liabilities |
43349.177
|
30462.199 |
21795.171 |
|
|
Net Current Assets |
(9296.846)
|
(499.326) |
3280.522 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
1825.261 |
|
|
|
|
|
|
|
|
TOTAL |
36775.304 |
34735.504 |
34625.286 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
68538.355 |
55003.999 |
44996.792 |
|
|
|
Other Income |
5502.814 |
4863.850 |
4034.661 |
|
|
|
TOTAL (A) |
74041.169 |
59867.849 |
49031.453 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption of stores and spares |
15234.490 |
11634.739 |
9565.749 |
|
|
|
Power and fuel |
2264.255 |
2207.005 |
2090.556 |
|
|
|
Other expenditure |
52969.096 |
40850.402 |
31262.744 |
|
|
|
Prior period adjustments |
47.845 |
(16.083) |
2.294 |
|
|
|
Increase/Decrease in stock |
(824.340) |
(11.441) |
691.409 |
|
|
|
TOTAL (B) |
69691.346 |
54664.622 |
43612.752 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4349.823 |
5203.227 |
5418.701 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
121.139 |
211.947 |
87.692 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4228.684 |
4991.280 |
5331.009 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
309.337 |
2491.964 |
2432.126 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3919.347 |
2499.316 |
2898.883 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
1239.233 |
1170.977 |
1137.180 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
2680.114 |
1328.339 |
1761.703 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1437.838 |
1515.050 |
1158.898 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1000.000 |
1000.000 |
1000.000 |
|
|
|
Proposed Dividend |
693.279 |
346.640 |
346.640 |
|
|
|
Corporate Dividend Tax |
115.145 |
58.911 |
58.911 |
|
|
BALANCE CARRIED
TO THE B/S |
2309.528 |
1437.838 |
1515.050 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores & Spares |
781.315 |
533.052 |
|
|
|
|
Capital Goods |
544.291 |
452.866 |
NA |
|
|
TOTAL IMPORTS |
1325.606 |
985.918 |
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.55 |
0.77 |
1.02 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.62
|
2.22 |
3.59
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.72
|
4.54 |
6.44
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.86
|
4.37 |
5.93
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.09 |
0.12
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.49
|
1.28 |
1.22
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.79
|
0.98 |
1.20
|
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details
|
Particulars |
31.03.2010 (Rs.
In Millions) |
31.03.2009 (Rs.
In Millions) |
31.03.2008 (Rs.
In Millions) |
|
Sundry Creditors
|
|
|
|
|
Due to Micro, Small & Medium Enterprises |
1.594 |
1.147 |
41.899 |
|
Due to Subsidiary (APHMEL) |
45.475 |
38.658 |
9115.362 |
|
Others |
6686.300 |
11688.139 |
3800.101 |
HISTORY:
In the year 1871, Dr. King of the Geological Survey of India
discovered coal near the
Large-scale expansion of SCCL was undertaken during the initial Five-year plans. In 1960 the Govt. of India started its participation in the equity of the Company and also started extending loan assistance. Thus since March 1960 it has been jointly owned by the Government of Andhra Pradesh and the Govt. of India. In 1974 the Government of India transferred its share capital to the Coal Mines Authority Limited. The manner of extending financial assistance for expansion of SCCL by the Govt. of A.P., and the Govt. of India during V plan period was agreed upon in the Four party Agreement executed on 10th June 1974. Subsequently, the Govt. of India decided to control its equity directly in SCCL. Accordingly, agreement was concluded on 13th December 1977. The SCCL, the Government of A.P., the Government of India and Coal India Limited were parties to the agreement. These two agreements are popularly called quadripartite agreements.
For financial and other assistance during VI, VII, VIII, IX and X Plan periods, separate agreements were executed on 31.03.1985, 10.02.1989, 24.09.1994, 11.01.2002 ,19.10.2004 and 11.06.2010 between the Government of India, the Government of Andhra Pradesh and SCCL. These agreements are called tripartite agreements.
The Company's accredited function is to explore and exploit
the coal deposits in the Godavari valley coalfield, which is the only
repository of coal in
The studies of Geological Survey of India attribute as much
as 22016 million tonnes of coal reserves in the
The coal extracted by SCCL in the
HIGHLIGHTS OF PERFORMANCE :
During 2009-10 the Company has;
- surpassed the targets and achieved highest ever production and productivity by registering record growth rate of 13% over previous year
- achieved highest ever dispatches and sales by registering growth rate of 11% and 22% respectively;
- achieved capacity utilisation of 106%
- achieved lowest specific energy consumption in terms of KWh per tonne of coal since 1973-74
The progress achieved by the Company can be seen from the following
table;
|
Performance parameters |
2009-10 |
2008-09 |
% variance over 2008-09 |
|
Production (in million tonnes) |
50.42 |
44.55 |
13.20 |
|
Despatches (in million tonnes) |
49.37 |
44.52 |
10.89 |
|
Gross sales (Rs. in millions) |
78254.800 |
6396.09 |
22.35 |
|
Productivity (Output per manshift in tonnes) |
2.73 |
2.42 |
12.81 |
|
Capacity utilisation (Coal) (Percentage) |
106 |
96 |
10.42 |
PRODUCTION PERFORMANCE:
Production from opencast and underground mines
The Company has achieved
significant growth of 13% in coal production during the year over the previous
year by producing 50.42 million tonnes. Open cast projects have contributed
38.45 million tonnes with a growth rate of 18% over previous year. Underground
mines have contributed 11.97 million tonnes with a marginal decline by 1% over
the previous year. Efforts are on to improve the overall performance of
semi-mechanisation in UG mines. The technology-wise details of production
achieved during the year against the targets as well as achievement in the
previous year are as under;
(in millions tones)
|
Sl. No. |
Technology |
2010 |
2008-09 Actual |
% variance over 2008-09 |
|
|
Target |
Actual |
|
|
||
|
1. |
Underground |
|
|
|
|
|
|
a) Hand section |
3.17 |
3.02 |
4.05 |
(25.43) |
|
|
b) Machine mining: |
|
|
|
|
|
|
i. Road header |
0.29 |
0.13 |
0.12 |
8.33 |
|
|
ii. Longwall |
0.90 |
0.90 |
0.77 |
16.88 |
|
|
iii. Side Dump Loaders |
4.44 |
4.42 |
4.08 |
8.33 |
|
|
iv. Load Haul Dumpers |
1.95 |
1.96 |
1.87 |
4.81 |
|
|
v. Blasting Gallery |
1.20 |
1.02 |
1.09 |
(6.42) |
|
|
vi. Continuous miner |
0.80 |
0.43 |
0.03 |
1333.33 |
|
|
vii. Diesel LHD |
0.05 |
-- |
-- |
-- |
|
|
viii. Scrapper |
-- |
0.09 |
0.09 |
-- |
|
|
Total machine mining |
9.63 |
8.95 |
8.05 |
11.18 |
|
|
Total underground |
12.80 |
11.97 |
12.10 |
(1.07) |
|
2. |
Opencast |
31.70 |
38.45 |
32.46 |
18.45 |
|
|
Total |
44.50 |
50.42 |
44.56 |
13.15 |
Overburden removal
performance
Overburden removal
of 247.05 million cubic metres was achieved in opencast projects during the
year as against 184.64 million cubic metres achieved in the previous year
registering a growth rate of 34%. The Company is outsourcing some portion of
(in million Cu. Mtrs.)
|
Particulars |
2009-10 |
2008-09 |
increase over 2008-09 |
||
|
|
Target |
Actual |
Actual |
Absolute |
Percentage |
|
Company equipment |
47.50 |
52.87 |
49.01 |
3.86 |
7.88 |
|
Outsourcing |
122.50 |
194.18 |
135.63 |
58.55 |
43.17 |
|
Total |
170.00 |
247.05 |
184.64 |
62.41 |
33.80 |
Bankers Charges
Report as per Registry
|
Name of the company |
THE SINGARENI COLLIERIES COMPANY LIMITED |
|
Presented By |
T. Narasimhulu Company Secretary |
|
1) Date and description of instrument creating the change |
Memorandum of
agreement of hypothecation of goods and assets made on 06.12.1993 between the
singareni collieries company limited (SCCL) kothagudem (borrower) and state
bank of |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 97.500
millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All present and
future goods, book debts and all other movable assets of the borrower and
present and future machinery of the borrower wherever lying |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
i) all present
and future goods, book debts and all other movable assets and all machinery of
the borrower both present and future, shall stand hypothecated to the bank
way of first charge. ii) interest
shall be charged/enhaced on the outstanding amount(s) at such rate(s) as may
be determined by the bank from time to time iii) the borrower
will at all times maintain a sufficient quantity and market value of the said
goods and assets to provide margins of security required by the bank from
time to time. iv) the borrower
shall insure the property charged and on default, the bank may insure the
property. v) the borrower
shall submit to the bank such statements/information, as may be required from
time to time. |
|
5) Name and Address and description of the person entitled to the charge. |
The state bank of |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
|
This form is for |
Modification of
charge |
||||||
|
Charge
identification number of the modified |
90258215 |
||||||
|
Corporate
identity number of the company |
U10102AP1920SGC000571
|
||||||
|
Name of the
company |
THE SINGARENI
COLLIERIES COMPANY LIMITED |
||||||
|
Address of the
registered office or of the principal place of business in |
Kothagudem Collieries,
Khammam-Dist, Andhra Pradesh – 507101, |
||||||
|
Type of charge |
Floating Charge |
||||||
|
Particular of
charge holder |
|
||||||
|
Nature of
description of the instrument creating or modifying the charge |
Joint deed of hypothecation
dt. 29.12.2007 by The Singareni Collieries Company Limited i.f.o. State Bank
of Hyderabad, Canara Bank, Indian Bank, Andhra Bank and State Bank of |
||||||
|
Date of
instrument Creating the charge |
29.12.2007 |
||||||
|
Amount secured by
the charge |
Rs. 1510.000
millions |
||||||
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
- Interest shall be charged on the outstanding in the accounts at such rate
or rates as may be determined by the consortium Banks from time to time and
if such rate or rates is or are linked to the Commercial Banks advance rate,
then the effective rate of interest on such accounts shall correspondingly
stand changed on account of any revision therein from the date of any such
revision. Terms of Repayment
- All advances made by the banks under the accounts and the balances due to
the banks thereunder shall be repayable
to the said banks on demand. Margin - Finished
goods (coal) - 35%; stores and spares - 60% and book debts - 50%. Extent and Operation
of the charge - The Singareni Collieries Company Limited, hypothecate to and
in favour of the Consortium Banks jointly and to each of them severally all
and singular the borrowers stocks of raw material, semi finished and finished
goods, stores and spares not relating to the P and M, Bills Receivable, book
debts and all other moveables of the borrower but including documents of
title to goods and other assets. |
||||||
|
Short particulars
of the property charged |
stocks of raw
material, semi finished and finished goods, stores and spares not relating to
the P and M, Bills Receivable, book debts and all other moveables of the
borrower but including documents of title to goods and other assets. lying in the borrower's premises in the
State of |
||||||
|
Date of latest
modification prior to the present modification |
11.12.2000 |
||||||
|
Particulars of
the present modification |
Amount owing as
security of charge was enhanced from Rs.948.960 millions to Rs.1510.000
millions and sharing pattern among member banks is SBH-from Rs. 484.500
Millions to Rs.930.240 millions, Canara Bank - from Rs.155.760 millions to
Rs.212.760 millions, Indian Bank from Rs.148.200 millions to Rs.167.000
millions Andhra Bank-from Rs.104.500 millions to Rs.134.000 Millions and
State Bank of Patiala- from Rs.56.000 millions to Rs.66.000 millions. There
is no change in other terms of the
original deed dt. 02.09.2006.
|
FIXED ASSETS:
1. Lands:
i)
Freehold
ii)
Leasehold
2. Buildings:
i) Factory
ii) Others
3. Railway sidings
4. Plant and
Machinery
5. Furniture and
fixtures
6. Mine
development
7. Vehicles
8. Intangible
Assets
AS PER WEBSITE DETAILS:
PROFILE:
Subject is a Government coal mining company jointly owned by the
Government of Andhra Pradesh and Government of India on a 51:49 equity basis.
The Singareni coal reserves stretch across 350 Km of the Pranahita – Godavari
Valley of Andhra Pradesh with a proven geological reserves aggregating to
whopping 8791 million tonnes. SCCL is currently operating 13 opencast and 42
underground mines in 4 districts of Andhra Pradesh with a manpower around
78,000.
While historically technology has been a
critical factor in SCCL's ability to reduce environmental impacts and
occupational hazards, the need to constantly increase productivity and cut
costs has demanded that the company goes in for phased mechanization and adapts
state-of-the-art technologies.
SCCL pioneered mechanization of coal mines in
Pioneer in
technology upgradation
A combination of modern machines in Open
Cast Mining like Walking Draglines, Shovels and High Capacity Dumpers were
introduced in 1975. In-pit Crushing and Conveyor technology for Over Burden
removal and coal extraction was commissioned for the first time in Ramagundam
Open Cast Mine with German assistance in 1994.
In 2002, Surface Miner Technology which not only facilitates cost reduction but
also contributes to eco friendly mining, was introduced for the first time.
Longwall technology in Under Ground Mining in 1983 and also Blasting Gallery
(BG) Technology in 1989 were other notable introductions. Today, with 4
Longwall Panels and 5 BG Panels working in the company, mechanization of Under
Ground Mines is being planned with state-of-the-art technologies like
Continuous Miner and Punch Longwall. Already the mechanization of Under Ground
Mining has seen the commissioning of 104 Side Discharge Loaders and 37 Load
Haul Dumpers that have enhanced safety and productivity during the last four
years. Other innovations in Under Ground Mines are 35 man-riding systems
(chairlift and railcar) that have improved transportation inside the mines.
From Heritage to
Hi-tech:
In a state that is fast emerging as the IT
hub of the country and hosts one of the
From automating the Personnel to Material Management Systems, many new measures
were initiated in the IT sphere to improve productivity. To stay in tune with
the online world, and keep customers and other stakeholders informed about the
developments in SCCL, the company launched its website www.scclmines.com.
Initiatives that have cemented SCCL's strength in IT are Video Conferencing,
Integrated Mine Management Applications and e-procurement. Digitization of mine
plans by Minex Software was yet another major initiative. This software
supports core areas of geological data management; opencast and underground
mine design and scheduling.
Other IT initiatives that are on the anvil or are being implemented on an
experimental basis include the use of Satellite based communication systems for
monitoring Heavy Earth Moving Machinery using Global Positioning Systems and
Biometric based Attendance Monitoring Systems. A dedicated cross-functional
team forms the core of the Software Development Group to provide in-house
software solutions and the company is all set to become an ERP based company in
the coming years.
Awards and
Recognition
- Subject has
been awarded Infraline Energy Excellence Award 2007 under Corporate
Excellence category - Black Diamond Award for coal sector development on
12.10.2007, at
- Subject
received the Indira Gandhi Vriksha Mitra Award - 2004 for outstanding
contributions made in the field of afforestation and waste land
development on 5.06.2007, at
- Environmental
Excellence award for 2005-06 from Society for Research and Initiatives for
Sustainable Technologies and Institution (SRISTI),
- Environmental
excellence Award from Green Tech Foundation in 2005-06.
- "Golden
Peacock Innovation Management Award 2005" from the
- "Golden
Peacock Environment Management Award 2005" from World Environment
Foundation,
- "National
Fly Ash Utilization Award 2005" jointly instituted by the Ministry of
Environment and Forests, Power and Science and Technology, Government of
- The Second
Best Corporate Film Award 2005 by Public Relations Society of India,
- Three of the
fourteen "National Safety Awards (Mines)" instituted by the
Directorate General of Mines Safety, Government of India in 2004
(pertaining to 2001).
- "Best
Workers Welfare Activity Award" for 2003-04 by the Federation of Andhra
Pradesh Chamber of Commerce and Industry (FAPCCI).
- "Best
Overall Performance Award" for 2002-03 by the Federation of Andhra
Pradesh Chamber of Commerce and Industry (FAPCCI).
- "Best
Management Award" for 2001-02 by the Government of Andhra Pradesh.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.15 |
|
|
1 |
Rs.72.58 |
|
Euro |
1 |
Rs.62.95 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.