Page 41 - Coal India

After dull FY17, Coal India set to shine in FY18

Improving volume trends, price hikes and higher realisations should boost FY18 performance

Coal India actively looking to invest in coal assets in Australia

Coal India has also asked Mozambique if it can explore for coal in a new area

Coal India misses annual production target by 44.48 million tonnes

It also missed off-take target for 2016-17 by 55.45 million tonnes

Coal India facelift: CIL to become a tech-driven 'clean products' company

Company could get into segments such as coal tar, naphtha and coal gas, among many others

Just before retirement, Coal India terminates board member

The company did not specify the reasons for his termination

Why imported petcoke dampened Coal India's cement linkage auction

Despite petcoke prices remaining 108 per cent higher at the end of March 2017 at $ 92 a tonne, which can potentially dent the margins of the cement manufacturers, the companies in the sector continue to stick to petcoke imports rather than substitute the input material with Indian coal.Recently, in the coal linkage auction for the cement sector, Coal India, which conducted the linkage auction, faced disappointment with the results.Industry officials reasoned that the primary reason for the industry to stick to petcoke despite higher prices is the quality issue."Pet coke's quality is better as its heat value is 8,000 kilocalorie, while that of Indian coal is 3,500 kilocalorie on an average", Mahendra Singhi, CEO at Dalmia Bharat said.Industry officials cited that compared to petcoke, around 2.5-3 times more coal is needed to produce one tonne of cement.Normally, on an average, Coal India sells the linkages to the cement companies at Rs. 1,500-1,700 a tonne. However, transport cost and .

Coal India Director R Mohan Das' services terminated on govt's directions

The company did not specify the reasons for his termination

Coal India plans private mining consultancy foray

The projected liberalisation of the coal sector to private commercial miners later this year has opened new scope for Coal India, of late on a diversification mode.The government-owned entity has been engaging its subsidiary, Central Mine Planning and Design Institute (CMPDI) to execute services in exploration, mine planning & design and other mining needs. It now feels the latter can also play the role of a key mining consultant for state and private companies in a liberalised regime.As a result, it is preparing its consultancy arm to expand its horizon, not only in private coal mining but to venture into other mineral mining services as well. CMPDI often engages with the petroleum ministry as well and has been getting consultancy orders from private companies."Lately, there has been a three-fold increase in our revenue from private companies. With the (coal) mining sector opening up, Coal India, via CMPDI, can play its role as a key mining consultant," a senior CMPDI official ..

In liberalised coal mining regime, Coal India seeks advantage

The projected liberalisation of the coal sector has opened up a new scope for Coal India

Coal India trades ex-interim dividend; stock down 2%

The stock was down 2.4% at Rs 291, the largest loser among the Sensex and Nifty 50 index at 09:37 am

Coal India announces second interim dividend for 2016-17

The PSU is aiming at 1 billion tonnes of output by 2020

CCI reduces penalty on Coal India by half on 'unfair' coal supply

Upholds allegations of unfair practise and abusing monopoly against coal behemoth

CCI slaps Rs 591 crore penalty on Coal India

Penalty amount of Rs 591 cr translates to 1% of Coal India's average turnover for 3-year period

Rs 16.6k-crore payout to erase 44% net worth of CIL

In its bid to implement the DIPAM (Department of Investment and Public Asset Management) guidelines in the Interim Dividend payout on Wednesday, world's largest coal miner, Coal India may be overstretching itself by parting with about 43 per cent of its cash reserves which will effectively erode the company's net worth by 44 per cent.While the DIPAM guidelines, which Coal India is implementing this year, mandates a minimum five per cent of its net worth or 30 per cent of its net profit to be given out as dividend, the coal behemoth, as per company estimates, is expected to pay a Rs. 16,600 crore Interim dividend. In this case, this amount will mean a decline of 44 per cent in its net worth or a payout of 2.6 times its net profit - both far exceeding the minimum benchmark of the DIPAM guidelines.As per Coal India officials, the company's cash reserves is estimated around Rs. 38,000 crore and analysts said the company's net worth stood at Rs. 37,300 crore as on September 30, 2016.The ...

CIL may miss output target by 20 MT this fiscal: Coal Secy

State-owned Coal India is likely to miss the production target by 20 MT and may end up producing up to 578 million tonnes this fiscal due to a string of issues, including evacuation and demand-supply, a top official has said. The world's largest miner is aiming to ramp up its output to 1 billion tonnes by 2020. "CIL may miss (production target) by 20 million tonnes (MT) and it (the output) should be between 570-578 MT," Coal Secretary Susheel Kumar told PTI. The PSU has set a target of 598 MT production in 2016-17. "Coal India is trying to meet their production target. It has promised me that it will try its best to meet the target and it is geared up," the Secretary said. Coal India, he said, may not be able to meet the target as the PSU is facing a lot of issues. In Mahanadi Coalfields Ltd (a Coal India arm) there were serious problems like resettlement and rehabilitation (R&R). "There are problems also. Now that I have visited MCL (Mahanadi Coalfields Ltd), WCL (Western

Coal India aims 400 mt output from 121 projectss this FY

CIL will make a presentation at investors' meet, to be held from March 13-15 in Hong Kong, Singapore

Bearish sentiment towards Coal India could reverse soon

Improving volumes led by power sector demand and better e-auction realisation make stock attractive

Coal India to diversify into 'coal to chemical' business

It may do it by converting the high calorific value, low ash thermal coal into chemical

CIL to again fund Centre via share buyback

Coal India would again be generating cash for the central government, its principal shareholder, via the capital buyback guidelines issued last year.In October last year, the monolith had extinguished 1.72 per cent of its shares after a buyback, estimated to have generated cash of Rs 2,500 crore for the Centre. The total cash given to the shareholders was Rs 3650 crore.Now, to again raise money for its shareholders via interim dividend,, Coal India is banking on its subsidiaries. "The buyback process is happening as per the Dipam (department of investment and public asset management) guidelines", a Coal India executive told this newspaper.The guidelines make it mandatory for every public sector undertaking having a net worth of at least Rs. 2,000 crore and a cash and bank balance of Rs 1,000 crore to buy back a maximum 25 per cent of its equity shares. Thus, five of Coal India's seven mining subsidiary companies have to compulsorily buy back their shares and release idle capital. ...

Coal India arm Northern Coalfields okays Rs 1,244-cr share buyback plan

Equity shares proposed to be bought back make up 4.29% of existing paid up capital of the company