Singareni Collieries Co Ltd (SCCL) has exceeded its target for the first half (April to September) of this financial year in coal production and dispatch. Although SCCL faced some difficulties due to rains during the first six months of this financial year, it overcame all obstacles and achieved 12 per cent growth in coal dispatch, 7 per cent growth in production, N Sridhar, Chairman and Managing Director of SCCL, said.
At a review meeting here on Tuesday, he said, “The coal dispatch target for half year was 307 lakh tonnes and Singareni has exceeded this target. We have dispatched 330 lakh tonnes and recorded a growth of 7 per cent. This is 12 per cent higher than the coal shipment (294 lakh tonnes) achieved during the same period last year.”
“Also, the coal production target of 314 lakh tonnes for the first half of this fiscal has been achieved 100 per cent. It is noteworthy that a growth of 7.15 per cent has been registered in comparison with the coal production (292 lakh tonnes) achieved during the same period last year,” he said.
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Giving a fresh target, he said, the production and dispatch target of 720 lakh tonnes by March should be advanced. “If this is done then a turnover of ₹40,000 crore and profit of ₹3,500 crore is possible,” he said. Henceforth, production and transportation of 2.1 lakh tonnes of coal per day should be achieved, Sridhar said adding “The target also is of 14.65 lakh cubic meters of order removal daily.”
He said there will be a strong demand for coal across the country, therefore, during the remaining six months of this financial year, at least 2.10 lakh tonnes of coal should be produced and dispatched, so as to cross the annual target of 720 lakh tonnes by March-end.
The company has announced that Singareni employees have been paid ₹1,750 crore of wage board arrears as never before and also ₹711 crore of 32 per cent profit bonus will be released before the Dussehra festival as announced by the Chief Minister of Telangana. After that, the Diwali bonus will also be deposited in the workers’ accounts before the festival.