Singareni posts record turnover of Rs 32,830 crore during 2022-23

Singareni Collieries Company Limited registered a growth of 23 percent over the turnover of Rs 26,619 crore achieved in the previous financial year (2021-22)

Hyderabad: The Singareni Collieries Company Limited (SCCL) has posted a record turnover of Rs 32,830 crore during the financial year 2022-23 by registering considerable growth in coal production.

According to a statement issued here on Monday, the company registered a growth of 23 percent over the turnover of Rs 26,619 crore achieved in the previous financial year (2021-22). Out of the total turnover, Rs 28,459 crore came through sale of coal and Rs 4,371 crore by way of sale of power through the Singareni Thermal Power Station.

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Chairman and Managing Director of the company N Sridhar said the company had registered a growth of 25 percent in sale of coal and 13 percent in sale of power during 2021-22 fiscal.

“Efforts will be made to reach a turnover of Rs 50,000 crore in the next three years,” he said, adding that the company had set a target to increase the annual coal production to 75 million tonnes during 2023-34 fiscal and 80 million tonnes by 2025.

Later, during a review meeting, Sridhar said the production of 104 lakh tonnes of coal from the Naini open cast mine in Odisha, VK open cast mine in Kothagudem, JK OC expansion mine in Yellandu area and Goleti OC, would play a vital role in achieving the coal production target of the company in the coming years.

He said that all permissions have been obtained for the Naini coal block and if the Odisha government cooperates, the company could produce 60 lakh tonnes of coal during the 2023-24 fiscal, 100 lakh tonnes next year and 150 lakh tonnes per year thereafter. With almost all the permits obtained for the VK open cast in Kothagudem and forest permits coming soon, at least 30 lakh tonnes of coal production should be achieved annually, he said, adding that the JK OC expansion mine in Yellandu area was expected to produce at least 10 lakh tonnes of coal by the end of this year.

Stating that the State-owned coal companies would be facing tough competition from private players in coming years, Sridhar directed officials to take steps to bring down production costs of coal extraction as it would help the company in competing in the market.

The SCCL had achieved the highest ever annual production of 671 lakh tonnes of coal during the financial year 2022-23. This is 3.25 percent higher than the production of 650 tonnes achieved in 2021-22. The company transported about 667 lakh tonnes of coal during the current fiscal, which is two percent more than the previous year. Besides Telangana, the company has supplied coal to thermal power stations in eight States and to about 2000 industries across the country. On March 31, Singareni also surpassed the record of 2.59 lakh tonnes achieved on March 11, 2016 by transporting 2.64 lakh tonnes of coal, the highest in its history.

• SCCL posts record turnover of Rs 32,830 crore during 2022-23
• Growth of 23 percent over Rs 26,619 crore recorded in 2021-22
• Rs 28,459 crore came through sale of coal
• Rs 4,371 crore came through sale of power
• Growth of 25 percent in coal sales, 13 percent in power sale in 2021-22
• Efforts on to reach turnover of Rs 50,000 crore in three years
• To target annual coal production of 75 million tonnes during 2023-34