Page 14 - Coal India

State-owned Coal India Q3 consolidated net profit rises 70%

State-owned Coal India Ltd on Tuesday reported a 70.1 per cent rise in consolidated net profit at Rs 7,755.5 crore for the quarter ended December 2022 on the back of higher sales. The company had posted consolidated net profit of Rs 4,558.3 crore in the year-ago period, Coal India Ltd (CIL) said in a regulatory filing. The consolidated sales of the company during the October-December period increased to Rs 32,429.46 crore, over Rs 25,990.97 crore a year ago. In a statement, the PSU said the steep rise in profit came on the back of higher add-on over the notified price in e-auction sale of 14.65 million tonnes coal during the third quarter of FY23. Though auction volumes were lower by 44 per cent in the third quarter of current fiscal, compared to 26 million tonnes of similar quarter FY22, higher premiums under the e-window helped CIL in cranking up sales by Rs 2,341 crore. The realisation per tonne of coal was Rs 5,046 under auction segment, in the third quarter against Rs 1,947 p

Coal India Q3 results: Profit up 70% to Rs 7,756 cr on higher power demand

The Indian coal ministry expects Coal India to surpass its production target of 700 mln tonnes fixed for the current fiscal

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CIL to produce sand using overburden rocks; likely to begin ops by next yr

State-owned CIL intends to produce sand using overburden rocks lying at its various coal mines and the operation of five such sand plants is likely to commence by next year, the government said on Friday. Under the 'overburden (OB) rocks-to-manufactured sand' initiative, Coal India Ltd (CIL) facilitates processing of waste overburden at its open cast mines. "CIL has envisaged to process the overburden rocks for sand production in mines where OB material contain about 60 per cent sandstone by volume which is harnessed through crushing and processing of overburden," the coal ministry said in a statement. Out of the five proposed plants, Ballarpur Plant of Western Coalfields Ltd (WCL) is expected to commence sand production by May. Four plants -- one each in WCL, South Eastern Coalfields Ltd (SECL), Bharat Coking Coal Ltd (BCCL) and Central Coalfields Ltd (CCL)-- are under different stages of tendering process. To fast-track the 'OB-to-sand' initiative, CIL has prepared a model bid .

Coal India arm MCL to set up Rs 12,000-crore power plant in Odisha

Coal India arm MCL is in the process of diversifying into power generation and will set up a coal-based plant entailing an investment of around Rs 12,000 crore in Odisha, its chairman-cum-managing director O P Singh said. Mahanadi Coalfields Ltd (MCL) also has plans to diversify into aluminium business. "We are into process of diversifying into power generation... The power purchase agreement is in the process of getting finalised with a few states," Singh told reporters here. The subsidiary has applied to the government for coal linkage for the proposed 1,600-mw coal-fired power plant and the allotment is yet to be done, Singh said. The government is also advising the company to go for diversification "so they are definitely with us", Singh explained. Singh further said that MCL has plans to foray into aluminum business and the company is in the process of getting bauxite block allotted to it. The tentative size of the mine would be three million tonnes per annum. Bauxite is

Mahanadi Coalfields expects 13% production rise to 190 mn tonnes in FY23

Mahanadi Coalfields Ltd (MCL), a subsidiary of Coal India Ltd, aims to achieve approximately 190 million tonnes of dry fuel production in the current fiscal

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Coal production target at more than 1 billion tonnes for FY24: Govt

A total of 290 mines are operational in Coal India Ltd (CIL) out of which 97 mines produce more than one MT per year

Coal India, trade unions awaiting govt's nod on 19% wage hike pact

Coal India Ltd (CIL) and trade unions are awaiting the govt's approval for a wage agreement that recommends a 19% minimum guaranteed benefit to 238k non-executive employees of the miner

Coal India should aim to provide electricity at just price: Chairman

State-owned CIL chief Pramod Agrawal has said that the coal behemoth should aim at providing electricity to the county at "just price" as 80 per cent of the company's supplies is directed towards coal-based power plants. Coal India (CIL) accounts for over 80 per cent of domestic coal supply and three quarters of the country's power generation is coal-based. In a recent message to its employees, Agrawal who is the chairman and managing director of CIL said that "our role is to supply assured energy at affordable costs". Stating that as there is a sizeable scope for energy expansion in the country for the next few decades, he said that the company has a greater responsibility to shoulder. "Aim for even loftier heights in the last quarter of the financial year and make FY23 momentous by shattering the annual targets as well. And, not rest there. Once we achieve 700 MT production target that should be a benchmark base for further growth," he said. Agrawal asked the employees to make

Targeting to double coal inventory with power plants by March: Coal secy

Coal Secretary Amrit Lal Meena said all the coal companies of national miner Coal India (CIL) had more coal than their targeted production for the upcoming summer season

Measures being taken to boost coal production in next season: Centre

The power ministry has asked gencos to use imported coal to the extent of 6 per cent of their requirement

MCL supplied 143.4 million tonnes of coal till Dec this current fiscal: CIL

State-owned CIL on Tuesday said that its arm MCL supplied 143.4 million tonnes of coal till December in the current fiscal, the highest among all the subsidiaries of the coal behemoth. Mahanadi Coalfields Ltd's (MCL) supplies accounted for 28.2 per cent of the total off-take of 507.8 million tonnes from Coal India Ltd (CIL). "MCL's growth curve has been phenomenal in FY23 in terms of production and supplies, the highest among all our subsidiaries," a senior executive of CIL was quoted as saying in a statement and added "this helped us in pushing up our overall output and off-take". MCL's coal off-take peaked to 146.12 million tonnes (MTs) on January 5, overtaking the total supplies that the company registered for full year of FY21. This achievement was attained 85 days before the current financial year comes to an end. MCL's supplies ending FY21 were 146 MTs. Against the contracted quantity of 81.5 MT to its customers in the power sector, the actual supply from MCL was 102.7 MT t

Govt expects utilities' annual coal demand to surge 8% to 821 mn tonnes

State-run Coal India, which accounts for 80% of India's coal production, is seen supplying 620 million tonnes to the power sector in 2023-24, compared with a projected 580 million tonnes in 2022-23

Coal India, trade unions sign pact for 19% minimum guaranteed benefit

State-owned Coal India Limited (CIL) and trade unions have agreed to a 19 per cent minimum guaranteed benefit of the monthly emolument, benefitting 2.38 lakh non-executive workers, an official statement said on Wednesday. In this regard, "CIL and the four central trade unions BMS, HMS, AITUC and CITU have inked a Memorandum of Understanding (MoU), recommending 19 per cent Minimum Guaranteed Benefit (MGB) for 2.38 lakh non-executive employees as part of the ongoing National Coal Wage Agreement XI (NCWA-XI)," Ministry of Coal said in a statement. The MoU between CIL and trade unions was signed in Kolkata on Tuesday. The MGB of 19 per cent is on the emoluments as of June 30, 2021, which include basic pay, variable dearness allowance, special dearness allowance and attendance bonus. The Telangana-based Singareni Collieries Company Limited (SCCL) was also the other signatory to the MoU. "A total of around 2.82 lakh employees of both the state-owned coal entities, CIL and SCCL, who were

Coal production rises 16% at 608 mn tonnes during Apr-Dec period of FY23

Coal Ministry sources said that production has increased due to greater usage of mining capacities of captive coal blocks

Coal India registers highest nine-month growth since pre-Covid level

Compared to the April-December period of 2019, the company's coal production grew by 23 per cent

CIL's supply to power sector up 11% to 433 MT in Apr-Dec period of FY23

CIL's coal supply to the power sector rose 11 per cent to 432.7 million tonne in the April-December period of current financial year. In the year-ago period, the supply was 390.2 MT. The supply to the non-power sector last month was 10.5 MT due to increased output. Coal India Ltd's output in April-December 2022-23 increased to 479 MT from 413.6 MT in the year-ago period. "To outdo the annual output target of 700 MT, CIL has to produce 221 MT in Q4 FY23 against 209 MT for comparable quarter last fiscal. Our production pace is already up and expected to rise higher. Another point in our favour is large quantities of over burden removal. We feel positive about scaling over the output target," the company said in a statement. The PSU excavated 1,154 million cubic metres (MCuM) of over burden removal (OBR) till December against 968.6 MCuM in the corresponding period last year. The PSU supplied close to 508 MT of coal to all consuming segments in April- December, registering a growth o

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India's coal production expected at 997 million tonnes in FY'24

The country is expected to produce 997.14 million tonnes (MT) of coal in the coming financial year. Of the projected figure, state-owed CIL's output is likely to be 760 MT, followed by Singareni Collieries Company Ltd (SCCL) at 75 MT, and captive and others at 162.14 MT, according to government data. During 2024-25, the country is expected to produce 1,111.60 MT of coal, which includes 850 MT by Coal India Ltd (CIL), 181.60 MT by captive and others and 80 MT by SCCL, as per the data. While in FY'26 India's production is expected at 1,288.39 MT, in FY'27 the figure is likely to reach 1,342.80 MT. Coal India accounts for over 80 per cent of domestic coal output. The country is targeting a production of 911 MT in the current fiscal. However, the total demand for coal in 2022-23 is estimated is 1,087 MT. The demand for the dry fuel from the power sector is expected at 775 MT, steel at 70 MT and non-regulated sectors at 242 MT. The government has taken various steps to augment domest