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Gujarat NRE Coke Ltd.

BSE: 512579 Sector: Metals & Mining
NSE: GUJNRECOKE ISIN Code: INE110D01013
BSE LIVE 15:40 | 08 Dec 1.63 -0.04
(-2.40%)
OPEN

1.60

HIGH

1.73

LOW

1.60

NSE 15:29 | 08 Dec 1.65 0
(0.00%)
OPEN

1.70

HIGH

1.70

LOW

1.60

OPEN 1.60
PREVIOUS CLOSE 1.67
VOLUME 315525
52-Week high 3.50
52-Week low 1.36
P/E
Mkt Cap.(Rs cr) 268
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1.60
CLOSE 1.67
VOLUME 315525
52-Week high 3.50
52-Week low 1.36
P/E
Mkt Cap.(Rs cr) 268
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Gujarat NRE Coke Ltd. (GUJNRECOKE) - Company History

Gujarat NRE Coke Ltd is a manufacturer of low-ash metallurgical coke and the largest independent coke producer in India. The company is engaged in manufacturing low ash metallurgical coke for the steel industry, soda ash plants, zinc smelters and foundries. Their manufacturing facilities are located at Dharwad in Karnataka, Jamnagar and Bhachau in Gujarat. The company has six subsidiaries, namely Hunter Valley Coal (P) Ltd, Manor Dealcom (P) Ltd, Bharat NRE Coke Ltd, Gujarat NRE Ltd, Resource Pacific Holding Ltd and NRE Mining Pty Ltd. Gujarat NRE Coke Ltd was incorporated in the year 1986. The company became a public limited company on July 5, 1993. In May 1994, they came out with a public issue to part finance their low ash metallurgical coke manufacturing project at Jamnagar in Gujarat. During the year 1994-95, the Jamnagar plant started with 3 chimneys and a production capacity of 0.1 million tonnes per annum. During the year 2003-04, the company commissioned their eleventh battery at Jamnagar while four were commissioned at the Bhachau plant. Also, the company commissioned their first windmill, resulting in substantial saving in power cost at the Khambhalia plant. During the year, Aparna Project Pvt Ltd was merged with the company. As a result of the merger, three batteries were added to the company's manufacturing capacity. During the year 2005-06, the company installed 21 Wind Turbine Generators aggregating to the installed capacity of 26.25 MW. The company floated two Australian subsidiary companies named as Gujarat NRE Australia Pty Ltd and Gujarat NRE FCGL Pty Ltd to acquire prime grade hard coking coal mines near Sydney in Australia. The company acquired two coal mines in Australia through their subsidiaries for ensuring a steady and quality supply of coking coal. The first coal mine acquired by Gujarat NRE Australia Pty Ltd, which already started coal production. The second coal mine was acquired by another subsidiary company, Gujarat NRE FCGL Pty Ltd. FCGL Industries Ltd, an associate of the company merged with the company during the year with effect from the appointed date on October 1, 2004. In December 2005, the company commissioned a mini steel plant for manufacture of Billets, Ingots, TMT bars and other rolled products. During the year 2006-07, the company also promoted Bharat NRE Coke Ltd, which set up a coke unit at Dharwad, Karnataka with a capacity of 3.24 lakh MTPA. The company entered into a strategic agreement to acquire on time four charter vessels, each with a capacity of 60,000 DWT to strengthen their logistics. In August 2006, the company floated a 100% wholly owned subsidiary, namely Gujarat NRE Pty Ltd in Australia to control the overseas resources operations. Gujarat NRE Pty Ltd controls the company's coal resources assets through step down subsidiaries Gujarat NRE Resources NL, Gujarat NRE FCGL Pty Ltd, Gujarat NRE Coal Pty Ltd, Wonga Coal Pty Ltd and India NRE Minerals Ltd (formerly known as Gujarat NRE Australia Pty Ltd). In March 2007, the company incorporated two wholly owned subsidiary companies namely, Manor Dealcom Pvt Ltd and Huntervalley Coal Pvt Ltd. During the year 2007-08, the company executed a project for installation of 12 windmills having combined capacity of 18 MW. The company has further undertaken a project for another 28 windmills having combined capacity of 42 MW in Gujarat. The company through their subsidiary acquired third mine in Australia named Elouera and the same was consolidated with the second mine, NRE Avondale which are now collectively known as NRE Wongawilli. During the year, the company accredited with Environmental Management System Standard ISO14001:2004 Certification, Occupational Health and Safety Management Standard OHSAS18001:1999 Certification and Quality Management System Standard ISO9001:2000 Certification for Manufacture and Supply of Low Ash Metallurgical Coke at Khambhalia, Jamnagar, Gujarat. The company forayed into environment friendly Captive Power Plant project generating power from waste heat emanating from coke plants. Twp power plants are under are under construction at Khambhalia and Bachau having capacity of 15MW each and one at Dharwad with capacity of 30 MW. The company has undertaken a coke oven project at Dharwad in Karnataka which would be commissioned during the financial year 2008-09. The company has acquired 220 acres of land at Nellore District of Andhra Pradesh for setting up 1 Million TPA Coke oven plant. Also, a new Coal Washery is also under implementation at Bhachau. The company's present coke production capacity of 1.006 million tonne is being expanded in the phased manner to 1.254 million tonne by March 31, 2009. During the current fiscal the ROM coking coal production from their two mines in Australia is expected to be around 1 million tonne and brownfield developments are underway to ramp up the production to beyond 7 million tonnes by the year 2012-13.