Chairman and Managing Director of Singareni Collieries Company Ltd (SCCL) N. Sridhar has received the “Bharatiya Mahantam Puraskar” given at the 13th edition of the Asian Business and Social Forum conference held at Bangkok in Thailand on Friday night in recognition of his efforts for taking the company on to the path of growth.
The award also know as “The Leader” for 2019-20 was presented by Ambassadors of Kingdom of Morocco and Republic of Maldives to Thailand Abdelilah El Housni and Mohamed Jinah respectively. The award is given by Asia One magazine published from Thailand to the best Chief Executive Officers among the Asian countries in the fields of business, commerce and industry.
Officials of the SCCL stated that their CMD was given the award in recognition of his contribution for the record sales, profits and growth rate achieved by the company during the last five years. An audio visual presentation on the growth of Singareni was given at the event on the occasion.
The organisers of the event stated that after formation of Telangana State, Singareni had achieved 78% growth in sales, 262% growth in profits, 28% growth in coal transport and 23% growth in coal production under the leadership of Mr. Sridhar and the award was being presented to him in recognition of the achievements.
Speaking after receiving this award, Mr. Sridhar said he was overwhelmed by the international recognition for the collective hard work of Singarenians under the guidance of Chief Minister K. Chandrasekhar Rao. The work would continue with the same zeal and many more achievements and growth rate would be achieved in the years to come, he hoped.
According to the company officials, the sales of Singareni had increased from ₹14,078 crore in 2014 to ₹25,071 crore in 2019 with a growth rate of 78%. Similarly, the company’s profit had gone up from ₹490 crore to ₹1,767 crore during the period with 262% rise. Coal despatches had gone up from 58 million tonnes to 68 million tonnes and the coal production had gone up from 52 million tonnes to 62 million tonnes during the period.
The coal company had also diversified into thermal and solar power generation by establishing a 1,200 MW thermal power project at Jaipur in Mancherial district and setting up solar power plants with 300 MW capacity was also underway.
