Page 5 - Coal India Limited

CIL's contribution to govt exchequer drops 2.2% to Rs 9,560 cr in Apr-May

State-owned Coal India Ltd's contribution to the government's exchequer dropped 2.2 per cent to Rs 9,560.28 crore in the April-May period of the ongoing fiscal. Coal India Ltd (CIL), which accounts for over 80 per cent of domestic coal output, paid Rs 9,777.64 crore to the government exchequer in the year-ago period, according to provisional figures of the coal ministry. Total levies paid to the government in May went up to Rs 4,763.20 crore from Rs 4,716.5 crore paid in the corresponding month of FY23. The amount paid to the Centre and state governments include royalties, GST, cess on coal, and other levies. Coal production generates substantial revenue for both central and state governments. Of the total amount paid to the government exchequer in the first two months of FY24, maximum amount of Rs 2,122.39 crore was made to the state government of Jharkhand, followed by Rs 2,116.15 crore to the Odisha government, Rs 1,933.59 crore to Chhattisgarh, Rs 1,496.80 crore to Madhya ...

Coal India incorporates new subsidiary for coal-to-chemical business

State-owned Coal India on Tuesday announced the incorporation of a subsidiary firm, Bharat Coal Gasification and Chemicals Ltd (BCGCL) for undertaking a coal-to-chemicals business. Coal India (CIL) holds a majority 51 per cent stake in the new entity while the remaining 49 per cent is owned by BHEL, the coal behemoth informed the BSE. Coal India in February signed a joint venture agreement with Bharat Heavy Electricals Ltd (BHEL) for undertaking a coal-to-chemicals business. Clearance of NITI Aayog and the Department of Investment and Public Asset Management (DIPAM) has been received for the formation of the joint venture company between BHEL and CIL, the filing said. "Bharat Coal Gasification & Chemicals Ltd has been incorporated...for coal to chemicals business to produce ammonia and nitric acid as intermediate products and ammonium nitrate as end product," the filing said. Meanwhile, CIL had signed a Memorandum of Understanding (MoU) with GAIL for setting up of ...

Coal India registers 18% growth in annual profit, tepid income rise

Board recommends final dividend of Rs 5 a share

CIL's FY24 production jumps 10% as stock gets a fillip ahead of summer

The jump in coal production comes at a time when the country is preparing for a record high power demand expected due to extreme heat this summer

Coal India's output increases 10% to 773.6 million tonnes in FY24

Coal India Ltd on Monday said it produced 773.6 million tonnes of the dry fuel in the 2023-24 fiscal, registering a 10-per cent growth over the previous year. However, it fell short of the target by 6.4 million tonnes or nearly two days of production. "This is the first time the company has recorded double-digit growth in two successive years since its inception. In volume terms, the output expanded by 70.4 million tonnes, the second-highest ever," a company statement said. The output of two subsidiaries Northern Coalfields Ltd and Western Coalfields Ltd failed to maintain momentum, registering a growth of 12.5 per cent and 9.1 per cent, respectively, in March compared to the corresponding period a year ago. This dragged the overall March growth of CIL's production rate down to 6.1 per cent. The overall coal production of 88.6 million tonnes in March 2024 was the highest ever for any month till date, the statement said. While all the miner's coal-producing arms recorded positive

Coal India likely to report production of around 773.7 MT in FY24

Coal India Ltd is likely to report production of around 773.7 million tonnes (MT) for the 2023-24 fiscal, which will be close to a 10-per cent growth over last year, company sources said. However, it is expected to fall short of the target of 780 million tonnes. Coal offtake is expected to stay restricted to 753 million tonnes, nearly 90 per cent of the target of 780 million tonnes, they said. The miner will announce its production and offtake numbers later on Monday. The company's dry fuel supplies to thermal power plants touched the 610.8-million tonne mark on Wednesday, surpassing the target for this sector. Coal India Chairman P M Prasad in a recent investor concall projected a shortfall in the wake of some land-related production hurdle in South Eastern Coalfields Ltd. All other subsidiaries, however, topped its targets. The largest coal producer in the world registered its highest-ever production of 703.2 MT in the 2022-23 fiscal. The target for the next fiscal year has be

Coal India achieves remarkable growth without major management rejig

Despite significant management restructuring, government-run mining company ONGC could not deliver a notable increase in output

Coal PSUs must plan pithead-based thermal projects, says Coal Secy Meena

The Coal Ministry has asked Coal India Ltd and NLC India Ltd to go for pithead-based thermal projects with an aim to reduce transportation cost and improve availability of dry fuel, a top government official said. The plan is that all new thermal projects of Coal India Ltd (CIL) and NLC India Ltd should come up near the coal mines, Coal Secretary Amrit Lal Meena told PTI. This will reduce the dependence on transportation, which is mostly through rail and road, and make the coal accessible for usage in power generation, he said, while replying to a question on new projects of coal PSUs, the official said. The move will also reduce logistics cost and cost of power generation, he said, listing the benefits of a pithead-based unit. Coal India has signed an agreement with Rajasthan Urja Vikas Nigam Ltd (RUVNL) for a joint venture to set up 4,100 megawatt of power generation capacity in Rajasthan, Meena said. Of this 1,725 MW will be pithead-based capacity, 200 MW pumped storage, 50 win

Thermax plans commercial-scale trial on high-ash coal gasification project

Energy and environmental services major, Thermax Ltd, said on Friday that it is in discussion with several steel companies in the eastern region for a commercial-scale high-ash coal gasification project. This project will be the first of its kind in the eastern region. Thermax is also in dialogue with Coal India on coal gasification technology. CIL has plans to set up a coal-to-SNG (Synthetic Natural Gas) project in the Eastern Coalfields Limited command area. In this domain, Thermax claims to have patented technology. "We are currently in talks with steel companies for a project that will pioneer high-ash coal gasification in the eastern region. Deliberations are going on regarding the funding, which is facing a viability gap of approximately 30-40 per cent of the project cost," Thermax MD and CEO Ashish Bhandari said. Although the government is expected to provide viability gap funding of around 15 per cent, companies will need to address the remaining funding gap, he said. "We

Coal India production hits record 703.91 MT this fiscal until March 7

Production of Coal India Ltd hit a record 703.91 million tonnes (MT) in this fiscal until March 7, surpassing the last fiscal's output of 703.20 MT, the Coal Ministry said on Friday. Highlighting that several key measures were implemented to enhance production, the ministry said Coal India maintains an ample stock of 72.70 MT as of 7th March 2024. "Coal India Limited (CIL) has achieved a record production of 703.91 million tonnes of coal up to 7th March 2024 during the current fiscal, surpassing last financial year's production of 703.20 MT by an impressive margin of 26 days," the ministry said in a release. Adoption of the Mine Developer and Operator model, mechanization and modernization of CIL mines, both Underground & Opencast, undertaking new projects, expanding existing projects, have bolstered coal production, it said. The ministry in a separate release stated that the domestic coal sector registered a growth of 10.2 per cent in January. The index of the coal industry ...

Coal India output rises 11% to 685 mn tonnes during Apr-Feb FY24

State-owned Coal India Ltd on Friday reported a 10.5 per cent rise in production at 685.1 million tonnes (MT) during the April-February period of the ongoing fiscal. The public sector coal producer had registered an output of 619.7 MT in the year-ago period, Coal India Ltd (CIL) said in a filing to BSE. In February, the production increased to 74.8 MT from 68.8 MT recorded in the year-ago month, the filing said. According to the company, the figures are provisional. The tota offtake of coal during the April-February period went up to 684.7 MT from 630.5 MT witnessed in the year-ago period. Coal offtake is the amount of fossil fuel supplied from the pitheads. CIL's offtake in February also increased to 65.3 MT from 58.3 MT in the corresponding month of previous fiscal. Coal India accounts for over 80 per cent of domestic coal output in the country.

Vedanta, CIL, Ola among the 50 players bidding for critical mineral blocks

The ministry made the announcement on the day when it launched the second round of auction for the 18 strategic mineral blocks valued at Rs 30 trillion

PM Modi to inaugurate 2 Coal India projects worth Rs 1,400 cr on Thursday

Prime Minister Narendra Modi will on Thursday inaugurate Coal India's two first-mile connectivity projects worth Rs 1,393.69 crore, according to an official statement. The first mile connectivity (FMC) projects are expected to reduce the state-owned coal producer's dependence on road traffic for transportation of the dry fuel. Owned by Coal India arm Norther Coalfields Ltd (NCL), the projects located in Madhya Pradesh will enhance coal supply and quality in an eco-friendly way, the coal ministry said in a statement. Prime Minister Narendra Modi will inaugurate two significant FMC projects virtually on February 29. These projects are valued at Rs 1,393.69 crore, the ministry said. "The projects to be unveiled are the Jayant OCP CHP-SILO and the Dudhichua OCP CHP-SILO. The Jayant OCP CHP-SILO has a capacity of 15 million tonnes per annum (MTPA) and has been developed with an investment of Rs 723.50 crore. "Similarly, the Dudhichua OCP CHP-SILO, with a capacity of 10 million tonnes p

Coal India to add new mines, expand existing ones to meet high demand

The miner plans to start operations at five new mines, with a combined annual capacity of 14.3 million tons, in the next fiscal year, Prasad said

Strong performance in Q3 adds fuel to Coal India Limited's stock

The e-auction ASP declined 34 per cent Y-o-Y to Rs 3,321 per tonne, which was at a premium of 117 per cent over FSA

Coal India Q3 results: Profit rises 17% to Rs 9,069 cr, revenue up 2%

Coal behemoth CIL on Monday reported a 16.9 per cent rise in consolidated net profit to Rs 9,069.19 crore for the December quarter. The company's consolidated net profit stood at Rs 7,755.55 crore in the year-ago period, Coal India Ltd (CIL) said in a regulatory filing. Its consolidated revenue from operations in the October-December period increased to Rs 36,153.97 crore from Rs 35,169.33 crore a year ago. CIL accounts for over 80 per cent of domestic coal production.

CIL appoints Mukesh Agrawal as director of finance with immediate effect

State-owned CIL on Thursday said Mukesh Agrawal has taken over as its Director, Finance. Agrawal took charge from Debasish Nanda, Director, Business Development, who was holding the additional responsibility as Director, Finance, Coal India Ltd (CIL) said in a statement. "Agrawal took over as Director, Finance... on and from 8 February 2024," CIL said. Prior to this, Agrawal was Executive Director at NLC India Ltd, it said. Agrawal's experience spans over three decades during which he has worked with ITI Ltd, IRCON International Ltd, and NLCIL.

Coal India aims to deploy 681 EVs at mines, subsidiary headquarters by FY26

State-owned Coal India Ltd aims to take the total number of e-vehicles at its mines to 681 by FY2025-26 from 178 at present, the government said on Wednesday. Coal and Mines Minister Pralhad Joshi in a written reply to the Lok Sabha said that Coal India Ltd is asserting on hiring electric vehicles at different mines and subsidiary headquarters. The present number of e-vehicles in Coal India Limited is 178, he said. The total target for e-vehicles in FY26 is 681, the minister said. Coal India Limited has taken various initiatives for reduction of carbon emission in mining operations which includes deployment of e-vehicles in all its subsidiary companies, he said. CIL accounts for over 80 per cent of domestic coal output.

Coal India production rises 9.1% to 78.4 million tonnes in January

State-owned CIL on Thursday reported a 9.1 per cent rise in coal production at 78.4 million tonnes (MT) in January. The company had produced 71.9 MT of coal in the corresponding month of previous fiscal, Coal India Ltd (CIL) said in a filing to BSE. Coal production by CIL in April-January period also increased to 610.3 MT from 550.9 MT in the corresponding period of previous fiscal, the filing said. Coal offtake in January increased to 67.6 MT from 64.4 MT in the corresponding month of previous fiscal. The offtake of dry fuel during April-January period increased to 619.5 MT from 572.3 MT in the year-ago period. Coal India accounts for over 80 per cent of domestic coal output.

Coal India plans to begin mining of critical minerals, including lithium

State-owned Coal India Ltd (CIL) is mulling entering into the mining of critical minerals, including lithium, an official said. CIL plans to get a block from the government for exploration and once lithium reserves are proved, the PSU would go for mining, the official said. Lithium is the 'cosmic' mineral which is needed as part of the country's energy security plans. It is being seen as a game-changer mineral to achieve the Net Zero goals in the coming years. "We will take one block from Government of India and do exploration and once lithium is proved then we can go for mining," Coal India Director (Technical) B Veera Reddy told reporters here. Reddy also holds the additional charge of Chairman and Managing Director (CMD) of Central Coalfields Ltd. Coal India's core business is mining, he said and exuded confidence that the PSU will definitely be successful in the mining of critical minerals. "We have expertise in coal mining and we can divert all our resources for mining of ..