“Singareni Reports 36% Profit Surge Under CMD N. Balaram’s Leadership”
Hyderabad, November 15, 2024: Overcoming challenges posed by heavy rains and ensuring uninterrupted coal supply to its customers, Singareni Collieries Company Limited (SCCL) has recorded remarkable growth in the first half of the financial year. The company achieved a gross profit of ₹4,000 crore before tax from April to October 2024, marking an impressive increase of ₹1,072 crore (36%) compared to ₹2,932 crore during the same period last year.
Despite initial setbacks in coal production due to monsoons, the company has rebounded strongly. Daily production and transportation are now accelerating, with a renewed focus on achieving the annual target of 720 lakh tonnes of coal. Singareni CMD, N. Balaram, has been personally overseeing operations, conducting daily reviews, and aligning all departments to address challenges and maintain momentum.
Financial Discipline and Operational Achievements
Singareni has generated ₹17,151 crore in revenue through coal sales and ₹2,286 crore from electricity sales during the period under review. These achievements have been attributed to strict financial discipline, improved operational efficiencies, and enhanced employee motivation. The company has increased coal production, transportation, and overburden removal across its mining areas.
Record-Breaking Profit Sharing and Employee Welfare
The Telangana state government, led by Chief Minister A. Revanth Reddy and Deputy Chief Minister Bhatti Vikramarka Mallu, recently approved a record-breaking profit share of ₹796 crore for employees, along with a ₹358 crore Diwali bonus. These initiatives have boosted worker morale and commitment. Additionally, enhanced accident insurance policies have increased confidence among employees.
Employee Engagement and Productivity Boost
CMD N. Balaram has conducted special reviews with mine protection committees, pit committees, and work inspectors, focusing on safety and welfare. Addressing over 1,500 supervisory staff from 40 mines, he emphasized prioritizing safety alongside production goals. Awareness programs on underground mine risks and financial discipline have further contributed to the company’s progress.
In a first, Singareni also organized the “Bright Singareni Employee Role Program” across all mining departments, featuring special meetings and mass dinners. Workers were educated on reducing production costs and maximizing machinery utilization. As a result, machine usage hours have increased from 14 to 20 hours daily in key areas like Manuguru, Ramagundam-1, Illandu, and Kothagudem. Production, which had dipped to one lakh tonnes per day during the monsoons, has now rebounded to 2.2 lakh tonnes per day.
Workforce Expansion and Recruitment
To address workforce needs, the company is recruiting 599 new employees to fill vacant posts, including supervisors, officers, and clerks, through two job notifications. These additions are expected to strengthen the operational efficiency of each mine.
Advancing Towards Annual Targets
With increased production, dedicated employees, and strategic guidance, Singareni is on track to exceed last year’s production and profit figures. The company is making steady progress towards achieving its annual goals in the remaining five months of the financial year, ensuring continued growth and success in the coal and energy sectors.
