Singareni Collieries Company Ltd has more than doubled its sales in the past five years from ₹11,928 crore in 2013-14 to ₹25,828 crore in 2018-19, registering a growth of 116.5 per cent.

Its profit increased nearly four times from ₹419 crore to ₹1,600 crore during the same period.

The mining company created a record by achieving highest growth rate in sales and profits, which exceeds that of eight Maharatna companies, Singareni Collieries said in a statement.

It said that backed by the encouragement and support of Telangana Chief Minister K Chandrashekar Rao, the mining company has emerged stronger, outpacing its peers.

Apart from extending several major benefits to the employees of Singareni, the Chief Minister approved 27 per cent profit-share as bonus for workers.

The Chief Minister also managed to secure permission for new mines, allocation of Naini Block in Odisha and a new block in Patrapura, to sustain the growth momentum. He has approached the Central government for some more blocks to be granted to Singareni in Jharkhand, Madhya Pradesh and Chhattisgarh.

N Sridhar, CMD of SCCL, said, “Steps have been initiated to ensure that the target of 70 million tonnes of coal production and transport is achieved this year (2018-19).

“Keeping in mind the demands for coal and power in the State and the country, SCCL will be going ahead with a growth of 10 per cent every year. By 2025, Singareni expects to cross the coal production target of 100 million tonnes,” he said.

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