Prism Johnson wins 10-year coal supply contracts worth about Rs 70.49 crore per annum

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AI summary

Prism Johnson has been declared successful bidder for coal supply of 24,000 MT per annum from Eastern Coalfields Ltd and 1,04,000 MT per annum from South Eastern Coalfields Ltd, both subsidiaries of Coal India Limited, through MSTC's coal linkage auction. Total additional linkage of 1,28,000 TPA takes company's total coal linkage to 2,79,400 TPA, covering about half of Cement Division's annual fuel need. Contracts worth around Rs 70.49 crore per annum, valid for 10 years, to be executed within 90 days.

Likely market impact

Secures long-term, low-cost coal supply for cement business, reducing fuel risk and replacing expiring linkages; mildly positive for margins.