TBGKS demands 35 percent profit share as SCCL workers lay siege to Singareni Bhavan

TBGKS leaders staged a protest at Singareni Bhavan in Hyderabad, demanding that the management declare net profits and release a 35 percent profit share to workers. They alleged that only 16.9 percent of last year’s declared profits reached employees, with the rest diverted for company development.

Kothagudem: Telangana Boggu Gani Karmika Sangham (TBGKS) leaders laid siege to Singareni Bhavan in Hyderabad on Friday demanding the management to announce the net profit and to give 35 percent profit share to workers.

The TBGKS honorary president Koppula Eshwar, president Miryala Rajireddy, chief general secretary Kapu Krishna, general secretary Surender Reddy and others took part in the protest.

Speaking to the media they complained that the management last year announced Rs 2,412 which was 33 percent of the net profit of Rs 4,701 crore. But 67 percent of Rs 2,412 crore was again set aside for the development of the company. In effect only 16.9 percent was distributed to workers as a bonus.

When TBGKS was a recognised union, the distribution of net profit ranged from 16 to 32 percent. The audit sheet of the previous year has not been released yet, they said.

It has been six months since the end of the financial year 2024-25, but the management has not disclosed the net profits earned in the year. Not announcing the net profit despite the fact that the Board of Directors meeting held some time back was worrying the workers, the leaders said.

The Sangham leaders stated that they came to know that the net profit earned in the financial year 2024-25 was more than Rs 6,400 crore. Therefore, the management should immediately declare 35 percent profit share without any deductions from the net profits and give it to the employees, they demanded.

 

SCCL CMD N Balram named best leader in South India

Meanwhile, Singareni Collieries Company Limited (SCCL) Chairman and Managing Director N Balram has been recognised as the best CMD in South India by the Asia Pacific HRM Congress at its national-level conference in Bengaluru on Thursday.

Balram was honoured for his leadership in driving SCCL’s growth, initiating operations at the Naini coal block in Odisha, securing exploration licences in Karnataka and expanding into the critical minerals sector. He also spearheaded agreements for solar and thermal power projects in Rajasthan.