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21 March, 2018 14:19 IST
Prakash Ind secures additional coal linkages of 2.10 lakh tonnes
Source: IRIS | 12 Oct, 2017, 10.28AM
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Prakash Industries has secured additional coal linkages of 2.10 lakh tonnes p.a. for the next 5 years. The company has bagged the same in the recent Coal Linkage auction conducted by Coal India. The company is going to sign the Fuel supply Agreement (FSA) in the coming weeks and the supplies will commence from November, 2017.

The company's coal requirement had increased with the commissioning of 5th Sponge Iron Kiln in April, 2017. With this additional quantity, the company has fulfilled its 100% requirement for the Sponge Iron Plants from Linkages, which was earlier being met through spot auctions; thereby saving over 20% in coal costs.

With this additional linkage, the profitability of the company will improve by over Rs 200 million; taking total annual cost savings on total linkage quantity of 15.56 lakh tonnes p.a. to over Rs 900 million.

Shares of the company gained Rs 5.6, or 4.26%, to trade at Rs 137.00. The total volume of shares traded was 234,176 at the BSE (10.19 a.m., Thursday).

Prakash Industries Limited   (Q,N,C,F)*

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