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Tata Power Interview

By Shrikant Akolkar | 2/20/2013 3:22 PM Wednesday

Tata Power, in a conversation with DSIJ, throws light on its Q3 performance and the company’s view on the power sector.

How do you read the December 2012 quarter results of Tata Power? Did they meet the management’s expectations?

Tata Power Company: Tata Power delivered a strong Q3FY13 and YTD operational performance. The company recorded increased operating profits and a growth in revenues. The consolidated Q3 revenues crossed Rs 9000 crore, while the YTD revenues were up by 28% at Rs 23993 crore.

How has the coal price movement in the international market been during the quarter? What should we expect going ahead?

Tata Power Company: The coal prices were stable for this quarter. They are influenced by a number of external factors that are difficult to predict. We generally rely on market experts for their views.

The gas-based plants have continued to face problems during this quarter. GAIL, however, has started operations from its LNG terminal in Dabhol. It is expected that this terminal will improve the gas supply to the adjacent states. What is your view on this?

Tata Power Company: The LNG terminal is expected to improve the receiving capacity of imported gas, which would increase the inflow to southern states. Gas-based power generation, however, remains expensive compared to coal-based generation.

On the gas front again, it is expected that the gas prices will increase in 2014 (Reliance Industries will be allowed to hike the gas prices). Since you are also operating a few gas- based plants, have you started factoring this hike in your projections? As for the gas-based plants, will the margins decline further or will this gas hike be a pass through?

Tata Power Company: Tata Power’s gas-based production capacity is very limited. If the gas prices increase, the cost of fuel may go up too. However, Tata Power’s Mumbai operations are on a regulated basis and hence, there won’t be any impact on profitability. With a shortage of gas in the country, we see a limited gas-based capacity addition in the coming future.

The government has continued with its power sector reforms. After SEB debt restructuring and FDI in power trading, it has now announced the coal price pooling policy. How will that help the sector? Also, the new policy will increase the coal prices for domestic coal consumers, pressuring their margins. What is the management’s take on this?

Tata Power Company: Coal price pooling will help the power sector by ensuring higher fuel supplies, reliable fuel availability and easing the demand-supply mismatch in the country. Domestic coal consumers are currently meeting deficits through coal imports, buying coal at spot prices or by operating at sub-optimal capacity. We are awaiting details regarding its implementation and would be able to comment on it thereafter.

Tata Power is also expecting a tariff hike in its Mundra project. The developments there would be very important for the power sector, especially for the power generating companies consuming the imported coal. Can you share the progress made so far?

Tata Power Company: The matter is sub judice before the CERC. The Commission has heard all the parties in the dispute and the next steps in the hearing are expected.

Find More Articles on: Markets, DSIJ Mindshare, Quarterly Results, Q3 Earnings

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DSIJ
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What's cooking for Shriram City Union Finance?; up by 7%

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At Rs. 1650 the stock is up by almost Rs.105 per share on an intra day basis. Shriram City Union is top gainer in the mid cap index (BSE Midcap) while contributing 7 points to the total gain of 20 points in the index. 

Mid Market commentary May 30

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Virinchi's Q4 profit jumps 3.5-fold

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Divi’s Laboratories’ profits boost in Q4FY16

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Street celebrates Hindalco results

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Coal India Q4 marginally up; glut refrains further profits

Coal India Q4 marginally up; glut refrains further profits

India’s coal manufacturer and seller Coal India has posted marginally positive Q4 results. Coal India has missed street expectations as oversupply has weighed down on prices. However, recently the company board has approved to raise the weighted average coal prices by 6.2 per cent to earn additional revenue.

Index trend and stocks in action May 30, 2016

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The Indian market got off to a positive start as investors were largely influenced by the supportive leads from the Asian Markets. The index further capitalised on the momentum and spurted in afternoon trades owing to broad based buying in the stocks.

Market may continue to rally

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Uflex’s profitability remains intact in Q4FY16

Uflex’s profitability remains intact in Q4FY16

Uflex has announced Q4FY16 results on Friday after market hours. The company’s top line has increased by 1.45 per cent to Rs 1482 crore in Q4FY16 as compared to same period in previous financial year. 

Canara Bank shocks the street; posts Net Loss

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Aamir Siddiqui May 30 01:56PM
any chance of INOX winds coming back up in near future?
king maker May 30 01:53PM
buy infy & tcs
m s May 30 01:44PM
but jubilant is going down since morning
sachin anand May 30 01:37PM
buy jubilant food
king maker May 30 01:22PM
@vaibhav, ya it may do 422