Sept share holding pattern has been put…any opinion about it? As the pledged shares have not been reduced to that great extent as was expected.
Further why company has not been crediting dividend even after declaration…
Anyway steel prices are going up and showing some strength…
Seem like exceptional item i.e 2400 lacs are yet to be adjusted!!!
Can any body share the the discussions of AGM.
I have taken up several times with the Company for Investor Concall however no positive response .
In my opinion rather than making further CAPEX the Company should first try to further deleverage its balance sheet by paying its all high cost restructured debt (at around ROI of 15%) as the same will lead to Annual saving of around Rs 100 Cr in interest.
Why the employee salary expenses cost and material cost is up at june 2019 result even after demerger of the prakash pipes? Any idea…
Also share capital is going up fromm 115 to 171 crs in last 10 yrs…
In between steel price going up…
As per para 1 sponge iron and finished steel div achieved highest ever production of 2.05 and 2.16 lakh tonnes resp in Q2FY20…despite of which why the revenue is down…further trade receivable is up…
Even in case of tata steel conso revenue also down by 15% and other income down by 49%
Guys, why the employee benefit expenses are going up even after demerger of prakash pipes? Any idea…
Revenue is down due to decrease in price of finished goods.
The previous years figures have been adjusted for demerger of Prakash Pipes. The employee cost has been risen by 10 to 11% on YOY basis.
Receivables have increased considerably probably because of low demand and also because monsoon is generally a slack season for Iron and Steel industry.
I have checked on ground (in Chhattisgarh) from my sources and have found that demand was actually very low in last quarter.
Probably they have given extended credit periods to boost their sales.
List_of_Coal_Mines_Earmarked_for_8th_Tranche_of_Auction.pdf (415.9 KB)
e-Auction_Result_8th-Tranche.pdf (337.7 KB)
List_of_Bidders_Tranche_8.pdf (438.1 KB)
Sl
No.
Coal Mine Auction Closing
Date
Closing bid submitted by Closing bid
(Rs/MT)
Mode of eAuction
1 Bikram 01-11-2019 Birla Corporation Limited/65058 154.00 Forward
2 Gare Palma IV-1 04-11-2019 Jindal Steel And Power Limited/64898 230.00 Forward
3 Brahmapuri 05-11-2019 Birla Corporation Limited/65058 156.00 Forward
4 Bhaskarpara 06-11-2019 PRAKASH INDUSTRIES LIMITED/64722 1100.00 Forward
Just unable to understand why Prakash has made a bid at such exorbitantly high level…@ 1100/- Per MT whereas other mines have been auctioned at 154/-,156/- and 230/- levels…unable to comprehend what I am missing…
Same question here…while I read 2 days back that jindal steel won bid for 230/ tonne where reserve price was 150/tonne…
Just have to check/find out reserve price for bhaskarpara coal mine…
It is there in the article shared by you that the previous price was 755/ton but the buyer backed out later.
Seems that the coal here is very good quality, we do not know the reserve price though.
This is coal price list of CIL:
https://www.coalindia.in/DesktopModules/DocumentList/documents/Price_Notification_dated_08.01.2018_effective_from_0000_Hrs_of_09.01.2018_09012018.pdf
Looking at this list it seems cheap (Prakash will have to incur expense of extraction though). Maybe the block location/ease of production is good.
It could have easily got “Bikram” block sold at 154 (reserve price of 150) or Gare Palma @ 230 only (reserve price of 150). So we must logically reason that Prakash chose wisely. 
Bhaskarpara coal mine details: (location and grade seems good, open cast (OC) mining method can be used)
https://coal.nic.in/sites/upload_files/coal/files/curentnotices/Mine_Summary_52_Bhaskarpara.pdf
Note: Usually only the worst coal blocks which CIL does not find “good” are put up in auctions for private players.
Any idea how this Coal auction works and how much the upfront payment will be.
https://coal.gov.in/sites/upload_files/coal/files/curentnotices/CBARules14072017.pdf
There does not seem to be an upfront payment. It is paid as the coal is mined, looks like. Quite vague terminology. Overall the bank guarantee is only to ensure the mining plan is followed. (guarantee for production and hence payment)
From the link you shared: [page numbered 18/19, sub-rule (4) and (8) - in section (8) “Procedure after declaration of successful bidder or successful allottee”]
" The successful allocatee shall be required to provide a performance bank guarantee in favour of the
Central Government for such amount and period as may be specified by the Central Government "
" The State Government concerned may, upon grant of mining lease, require the successful allocatee to
provide a performance bank guarantee in its favour for ensuring the production of coal as per the mining plan. "
Also this is same in the latest docs in the message below. The “Standard Tender Doc” says in 3.3.2 (g) “Payments by the Successful Bidder”. Atleast in part (i). Parts (ii) and (iii) there seems to be some payment for infra and the “Upfront payment (unknown)”
https://coal.nic.in/sites/upload_files/coal/files/coalupload/policies_27-02-18.pdf
Standard-Tender-Document-for-6th-Tranche-dated-25-10-2018.pdf (659.2 KB)
file:///C:/Users/Admin/Downloads/Fixed-Cost-Summarised-information-of-the-6-coal-mines-for-7-tranche.pdf
How much time it would take to commence coal mining? Is land acquisition necessary before commencing operation?
