Singareni moving forward with sustainable economic progress
False propaganda on the miracle of financial success is not acceptable
Singareni is moving forward with sustainable economic progress
Singareni deposits Rs. 11,665 crores
750 crores income every year in the form of interest
Rs. 32 thousand crore turnover
Rs. 2 thousand crores net profit
It is ridiculous to say that Singareni, which has a revenue of 27 thousand crores, is in debt
The management of Singareni strongly objected to the baseless allegations
In addition to coal production, Singareni Colliery Company Ltd., which excels in the fields of Dharmal electricity and solar power, has a turnover of 32 thousand crores, deposits of 11,665 crores, annual interest income of more than 750 crores and is in debt. A detailed statement was issued in this regard on Wednesday
The management expressed its strong objection to some untrue and baseless allegations defaming the reputation of Singareni, which is emerging as one of the best government institutions in coal production and welfare.
The Singareni company, which is running with a turnover of Rs 32 thousand crores, is going to start its first coal mine in the state of Odisha in two months after establishing a solid financial foundation and expanding to other states as well.
In various banks at the company, L. Deposits in I.C, money held through bonds Rs. 11,665 crores.. so that the company will also get an interest of about Rs. 750 crores per annum. Apart from this, dues due from consumers are Rs. There are over 15,500 thousand crores. In this way, the Singareni company, which has a total financial backing of Rs 27 thousand crores, is in debt and Rs. It is most painful to spread the bad news that there are debts of more than 12 thousand crores
Singareni Corporation has set up Singareni Thermal Power Station and Solar Power Stations for sustainable financial foundations unlike any other government organization in the country. While the loan of Rs 472 crore for solar power plants has already been cleared, only Rs 2800 crore of the Rs 5,300 crore loan for thermal power plant is yet to be repaid. That means Singareni’s debt is only Rs.2800 crores.
The management said that it is ridiculous and extremely painful to say that there are debts of 12 thousand crore rupees and the situation of not being able to pay the salaries to the workers.
The Singareni company with crores of rupees in profits and revenues has nothing but debt to pay the salaries of the workers. Apart from the exact payment of salaries on the third day of every month, the annual increments of profit bonus and PLR bonus are regularly deposited in the accounts of the workers.
After the formation of Telangana state, Singareni company will be the number one company in the country in terms of product turnover profits and will also be a leader in welfare. Before the advent of Telangana, the welfare expenditure on an average worker was 1 lakh 15 thousand rupees, but now it has reached 3 lakh 15 thousand rupees. It should be noted that these are possible because the Singareni organization is financially strong.
The CAG (Central Comptroller and Auditor General) who has scrutinized the clear and error-free financial transaction reports submitted by the Singareni company every year has expressed its appreciation and has given “nil” comments for the past few years. This can also be said to be a recognition of the financial policies implemented by the Singareni organization honestly.
Those who should praise the efforts of Singareni organization which is playing a key role in the achievement of Telangana state and development of Telangana state, on the other hand, it is not right to speak in such a way as to harm the morale of the employees of the organization and the value of the company in the market.
The progress made by the Singareni organization after the formation of Telangana state can be understood by looking at the following statistics.
In the last eight years, Singareni has achieved remarkable progress in economic terms.
The financial progress achieved by the Singareni organization can be seen when the statistical details of last year 2022-23 are examined compared to the year 2013-14 before Telangana statehood.
• The company’s investments in the form of bonds and deposits are Rs. 11,665 crores
• Interest earned on Singareni investments is Rs. 750 crores
• 32,830 crore turnover with 273 percent growth
• Profits grew by 500% from Rs.459 crores to Rs. 2300 crore addition
• The average salary of workers increased by 234 percent to Rs 1 lakh 40 thousand
• Paying profit bonus up to 30 percent
• Annually with solar plants Rs. 150 crore savings
• Annually with Singareni Thermal Plant Rs. 500 crore profits
Therefore, the management said that those who need information can contact the Company Secretary or the Company Information Officer, reminding them that it is a minimum responsibility to know the facts before making allegations.
