Gujarat NRE Mineral
Unaudited Financial Results for the Quarter ended 30th September, 2013
Gujarat NRE Coke Ltd (GNCL), the flagship company of Gujarat NRE group is the largest independent producer of met coke in India with an installed capacity of 1.458 MTPA. Identified as the 4th best performing stock in 1st decade of this millennium, GNCL has also been ranked 7th by Business Today in 10 year profit growth (BT 500 ranking).
Gujarat NRE is the only Indian company with coking coal mines in Australia having over 650 million tons of Coking Coal resource with excellent coking properties. The coal mines are owned through its subsidiary — Gujarat NRE Coking Coal Limited, listed on the ASX. The two coking coal mines NRE NO.1 and NRE Wongawilli are located in the Illawarra region of New South Wales, Australia. The hard coking coal production is being increased from current level of around 1.5 MTPA to over 5 MTPA by 2016 making it one of the top 10 hard coking coal producers in the world.
Gujarat NRE Coke Ltd, through forward integration has also forayed into steel making and power generation through the renewable energy route. The company has 87.5 MW wind power energy and has also set up a mini steel mill in Gujarat to recycle steel scraps using green wind energy to manufacture TMT Bars. The company is currently setting up 60 MW power plants out of the waste heat emanating from the coke making process, while over next few years’ targets to increase metallurgical coke making capacity to 4 MTPA.
The Group has eminent independent professional directors and is headed by Mr Arun Kumar Jagatramka, a qualified Chartered Accountant with an all India 1st rank and gold medal. The group is all set to emerge as a global resource entity with core focus on coking coal and coke.