Page 7 - Coal India Limited

Coal India slips 5% as government begins partial stake sale via OFS

The floor price for the stake sale has been set at Rs 225 a share, which represents a discount of around 7 per cent from the closing price of Rs 241.2 on Wednesday

Coal imports could be cut as CIL output rise to 1 bn tonnes: PM Prasad

Imports of non coking coal could be cut drastically by fiscal 2025-26 on the back of increased output of dry fuel in the country, P M Prasad, Chairman and Managing Director of Central Coalfields Ltd (CCL) said. The chairman of the Coal India subsidiary said the world's largest coal miner, Coal India Ltd, would be able to produce one billion tonnes by FY26. "We have to see that targets are in place. Last year (fiscal 2022-23) we (Coal India) produced 703 million tonne. The target for FY 24 is 780 MT and FY 25 is 880 MT, Prasad, whose name was recommended by the PESB earlier this month for the job of CMD of Coal India Ltd, told PTI. He added that the CIL production will touch one billion tonnes in FY 26. If we achieve this, definitely imports of non-coking coal will be reduced....within three years non coking coal imports can be brought down to a minimum level," Prasad said. India's overall coal production has witnessed a quantum jump to 893.08 MT in FY 2022-23 as compared to 728.

Digging deeper: Coal India's 1-bn tonne target to spur mining in states

Just transition goals, ecological challenges in contrast to mining plans

Coal India net profit rises 62% to record Rs 28,125 crore in FY23

Q4 profit slips marginally, Board declares Rs 4 per share dividend

CIL to pump in Rs 91K cr on diversification, projects by FY26: P M Prasad

Domestic coal major Coal India Ltd (CIL) will pump in Rs 91,000 crore in various projects, including diversification and mine development, by 2025-26, P M Prasad, chairman and managing director of CIL-arm Central Coalfields Ltd (CCL) said on Thursday. The Public Enterprises Selection Board (PESB) on Wednesday recommended the name of Prasad for the post of Chairman and Managing Director (CMD) of Coal India. "Rs 91,000 crore will be spent on diversification and other projects put together ... These will be pumped in till 2025-26," Prasad told PTI in an interview post his selection to head the coal behemoth. He said a sum of Rs 36,000 crore will be spent on coal gasification projects while another Rs 46,000 crore will be pumped-in mining developers cum operators (MDOs) and other contracts. The remaining amount will be spent on various other projects. CIL has already identified 15 greenfield projects having a total project-rated capacity (PRC) of 168.58 million tonnes (MT) per annum fo

Expensive coal imports, logistics may result in higher electricity bills

An unnamed senior executive said that expensive imports combined with increased transportation costs may lead to an increase of 40 paise per kilowatt hour (kWh)

52 coal projects to power 1-bn-tonne goal by 2026: CIL CMD Pramod Agarwal

'We will look at exports after fulfilling the fuel supply commitments and meeting the domestic coal demand of both the power and non-regulated sectors'

Coal India boosts coking coal output, production up 17% to 54.6 MT

Coal India Ltd, the world's largest coal miner, on Thursday reported a 17.2 per cent rise in production of coking coal, helping cut on imports of the fuel that is an essential input for production of iron and steel. In a statement, Coal India said coking coal production has risen to 54.6 million tonnes in 2022-23, up 17.2 per cent year-on-year growth compared to 46.6 million tonnes in FY'22 (April 2021 to March 2022). "The quantum leap in the year was a whopping 8 million tonnes," it said, adding the output was 107.3 per cent of the target. This assumes significance at a time when the Ministry of Coal has asked the company to raise the output of this category of coal to 105 million tonnes by 2030 in a bid to reduce its imports and forex outgo. BCCL and CCL, the two Jharkhand-based subsidiaries of CIL, are major producers of coking coal and together accounted for almost the entire output of 54.3 million tonnes in 2022-23. "BCCL alone produced nearly 62 per cent or 33.7 million tonn

India's coal imports rise 32% to 148.58 mn tonnes in Apr-Feb: Report

India's coal imports increased by 32 per cent to 148.58 million tonne (MT) in April-February FY23 against 112.38 MT in the year-ago period, according to a report. The import of coking coal rose 7.69 per cent to 50.50 MT during April-February FY23 compared to 46.89 MT a year ago, mjunction said in its latest report. In February 2023 alone, the non-coking coal import stood at 11.68 MT against 9.42 MT in the same month last year. Coking coal imports were 4.40 MT against 4.03 MT imported in February 2022. India is among the top five coal-producing countries in the world. However, some parts of its coal requirement are met through imports as the country is also among the major consumers of the dry fuel. For coking coal - a key raw material used in steel making - the country remains heavily dependent on imports. mjunction MD Vinaya Varma said, "The softening of seaborne prices coupled with high domestic demand resulted in continued buying interest among Indian traders and ...

State-owned CIL aims to supply 610 MT coal to power plants in FY24

State-owned Coal India Ltd (CIL) on Wednesday said it is aiming to supply 610 million tonne coal to power plants in the current fiscal. In the just concluded financial year 2022-23, the miner supplied a record 586.6 million tonne (MT) dry fuel to coal-fired power plants. "CIL supply to the power sector is pegged at 610 MT to meet the demand of coal fired plants in 2023-24. This is 23.4 MT more or 4 per cent higher than the record 586.6 MT supplied in FY23," the company said in a statement. In the wake of forecasts that a hot summer may push up coal demand, CIL said it is gearing itself to meet the requirement on the back of adequate coal stocks at its pitheads and increased production in the first quarter of FY24. In FY23, CIL surpassed its target of 700 MT for the fiscal and produced 703.20 MT of coal, 13 per cent higher from 622.63 MT in 2021-22. "With increasing production and adequate coal stock of 69 MT at our pitheads, we aim to meet the projected target with our best shot a

Coal India surpasses annual output target for first time in 17 years

Coal India last achieved its annual production target in 2006, when it produced 343.4 million tonnes against a plan to produce 343 million tonnes

Strong case to hike coal prices, could happen soon: CIL Chairman Agrawal

Coal India Chairman Pramod Agrawal on Monday said there is a "strong case" for increasing coal prices, and the hike could be effected "very soon" as discussions are underway with stakeholders. Agrawal also said he is confident the mining behemoth will achieve its production target of 1 billion tonnes by 2025-26. "There is a strong case for increasing coal prices, as that has not happened in the last five-odd years. This year, the wage negotiation has taken place as well, which will have an impact on CIL's financial condition, especially for a few subsidiaries where the manpower cost is very high. "There will be a lot of problems if prices are not hiked. Discussions are underway with stakeholders... It will happen very soon," Agrawal said at the Indian Coal Markets Conference here organized by Mjunction. Elaborating on the 1 billion tonne production target, he said though CIL is on course to achieve this by 2025-26, it will depend on factors like the need of the country and the grow

Ready to meet dry fuel demand from power sector: Coal India Limited

Amid early onset of summer and a pick-up in industrial demand for electricity, state-owned CIL on Tuesday said it is geared up to meet the demand of dry fuel from the power sector. The public sector coal producer also expressed hope to supply 156 million tonnes of coal to the power sector during April-June quarter of FY24. This would be 25.6 per cent of the enhanced annual dispatch target of 610 million tonnes (MT) slated for the sector in 2023-24. "Coal India Limited (CIL) is optimistic about supplying 156 million tonnes of coal to power sector during April-June '23 quarter amid concerns over spike in coal demand," the coal behemoth said. CIL, which accounts for over 80 per cent of domestic coal output, is a major supplier of dry fuel to the electricity generating plants. Factors in favour of CIL are a strong 68 MT coal stock build-up expected at its pitheads by the end of current fiscal, which as of Monday was 57.3 MT. Also, the maharatna firm will scale up its production into a

Coal minister Joshi asks CIL to remove bottlenecks to boost production

Minister of Coal and Parliamentary Affairs Prahlad Joshi on Tuesday urged coal companies to identify and remove production bottlenecks in order to further increase dry fuel production

Coal consumers body seeks renewal of rake-based supply to non-power sector

The Coal Consumers Association of India (CCAI) has made a plea to the government to resume rake-based supplies to the non-power sector in a bid to maintain cost competitiveness and sustain operations. Despite Coal India's production and despatches improving considerably this year, the supply of dry fuel to the non-power sector continues to languish below optimal levels amidst spiralling costs. This situation has led to the non-power sector relying on road-based supplies, in turn leading to soaring costs for its constituent industries. Converting rail quantities to road offtake often attracts higher premiums than those already paid to Coal India Ltd (CIL) for rake-based supplies, CCAI said. "...converting rail quantity to road offtake may often lead to a higher premium for coal which may be more than the premium paid to CIL for supply via rail mode. This is invariably adding the additional burden of cost on the NRS (non-regulated sector) consumers on top of the higher transportation

Coal pensioners protest in capital, demand review of pension scheme

Agitators seek dearness relief as scheme component to ensure equitable pension; want adherence to provisions of CMPS 1998 on review and revision of pension every three years

Thermal plants have adequate coal stocks at 25.6 million tonnes, says govt

The domestic coal supply to the power sector in October is 12 per cent more than the same period of last year.

Stocks to watch: Tata Motors, Coal India, Paytm, Sun Pharma, GCPL, VST Inds

Stocks to watch today: Tata Motors, Pidilite Industries will report the July-September quarter (Q2FY23) results on Wednesday, November 9; Coal India saw 102 per cent jump in net profit to Rs 6,044 cr

Coal India Q2 net profit zooms 106% to Rs 6,044 crore on high sales

The company's profit for the first half of the fiscal year spiked 143 per cent to Rs 14,878 crore

Coal pensioners to agitate for dearness relief in pay, pension body revamp

Retired Employees Association says nearly 270,000 pensioners are getting less than Rs 2,000 a month as pension