Page 8 - Coal India

Coal India's contribution to govt exchequer up 6.4% at Rs 60,140 cr in FY24

State-owned Coal India Ltd's contribution to the government exchequer increased by 6.4 per cent to Rs 60,140.31 crore in FY24, over the financial year 2022-23. Coal India Ltd (CIL), which accounts for over 80 per cent of domestic coal output, paid Rs 56,524.11 crore to the government exchequer in FY23, according to provisional figures of the coal ministry. Total levies paid to the government in March 2024 also went up by 14.8 per cent to Rs 6,069.18 crore from Rs 5,282.59 crore paid in the corresponding month of FY23. Of the total Rs 60,140.42 crore paid to the government exchequer in FY24, maximum amount of Rs 13,268.55 crore was made to the state government of Jharkhand, followed by Rs 12,836.20 crore to the Odisha government, Rs 11,890.79 crore to Chhattisgarh, Rs 10,865.96 crore to Madhya Pradesh, and Rs 6,188.89 crore to Maharashtra among others. The coal-producing states earned the revenue from royalty, District Mineral Foundation (DMF) and National Mineral Exploration Trust

Float dynamics: Higher float to keep ETF buying in Airtel, CIL buoyed up

Based on changes to the float during the three-month period ended March 2024, Freitas has calculated the possible weighting changes in these stocks and their likely impact on passive flows

Coal India Q4 results: Consolidated net profit rises 26% to Rs 8,682 crore

Coal behemoth CIL on Thursday reported a 26.2 per cent rise in consolidated net profit to Rs 8,682.20 crore for the March quarter. The company's consolidated net profit stood at Rs 6,875.07 crore in the year-ago period, Coal India Ltd (CIL) said in a regulatory filing. Its consolidated income in the January-March period declined to Rs 39,654.50 crore from Rs 40,371.51 crore a year ago. CIL accounts for over 80 per cent of the country's domestic coal production.

Q4 FY24: Adani Ports, Coal India among 49 firms to post results today

Q4 FY24 results: Dabur, Federal Bank, Digicontent, Blue Star, Khemani Distributors, Aptech are expected to release their financial results too

Coal India production increases 7.3% to 61.8 million tonnes in April

State-owned CIL on Wednesday said its production increased 7.3 per cent to 61.8 million tonnes (MT) in April. The company had produced 57.6 MT of coal in the corresponding month of the previous fiscal, Coal India Ltd (CIL) said in a filing to the BSE. CIL accounts for over 80 per cent of domestic coal production. The company's coal offtake also registered a rise of 3.2 per cent to 64.3 MT last month, over 62.3 MT in the year-ago period. Coal offtake is the amount of dry fuel supplied from the pitheads. Of the 61.8 MT of coal produced by CIL last month, a maximum of 16 MT was produced by Mahanadi Coalfields Ltd (MCL) followed by 14.1 MT by South Eastern Coalfields (SECL) and 11.8 MT by Northern Coalfields Ltd among others. CIL's production increased 10 per cent to 773.6 MT in FY24 but fell short of its production target of 780 MT for the fiscal. Coal India Ltd's production was 703.2 MT in 2022-23.

Coal India's capital expenditure up 6.5% to Rs 19,840 crore in FY24

State-owned CIL on Tuesday said its capital expenditure increased by 6.5 per cent to Rs 19,840 crore in FY24. The company's capital expenditure was Rs 18,619 crore in FY23, Coal India Ltd (CIL) said in a statement. It accounts for over 80 per cent of the domestic coal output. "CIL achieved 120 per cent target satisfaction over the year's capex target of Rs 16,500 crore. For the fourth fiscal on sequence CIL's capex breached the budgeted target," the PSU said. CIL is aiming to have adequate infra in place to evacuate increased quantities of coal produced in future. This includes setting up first mile connectivity projects with coal handling plants and silos; rail sidings, rail lines and roads. Evincing a sharp upward swing on land acquisition and associated rehabilitation and resettlement, capex for land was Rs 5,135 crore in the last fiscal, the second highest, posting a jump of 52.5 per cent over Rs 3,367 crore in FY23. Procurement of heavy earth moving machinery (HEMM) made up

Higher cash flows and moderate valuations to support Coal India stock

In FY24, CIL dispatched 618.5 MT (up 5.4 per cent Y-o-Y) to the power sector (vs committed volume of 610 MT). The power sector thus accounted for 82 per cent of total dispatches

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

CIL tops annual growth target, achieves 610.8 MT supply to power sector

Coal India Ltd (CIL) has surpassed its annual supply target of 610 million tonnes to the thermal power sector, achieving 610.8 MT till March 27, a company official said. This marks the highest coal supply till date to the power sector, he said. CIL's coal supply to the sector rose by 29.3 million tonnes in absolute volume terms compared to the corresponding period last fiscal, he said. The miner's current average daily supply to coal-fired plants stands at 1.76 million tonnes, reflecting the growing demand from the power sector, according to a company statement. CIL is aiming at boosting production in the wake of the estimated peak demand for electricity of 250 GW this summer. In 2022-23, offtake to power plants reached 586.6 million tonnes, surpassing the commitment of 565 million tonnes, the official said. As per data, coal stock at domestic coal-based power plants stood at 47.1 million tonnes as of March 26, an increase of 13.7 million tonnes as against the corresponding perio

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, BHEL may sizzle on this announcement by govt; details here

Stocks to Watch on March 7: The Ministry of Coal has issued three draft request for proposals (RFPs) for consultation on coal gasification scheme

Stocks to watch: Reliance, Coal India, BHEL, Shriram Finance, UPL, Jio Fin

Stocks to Watch on February 29, 2024: Under the NSE index rejig, Shriram Finance will replace UPL in the Nifty50 index with effect from March 28, 2024

CIL to hold 51% stake in Rs 11,700 crore coal-to-chemical JV with BHEL

Coal India Limited (CIL) on Wednesday said it will hold a 51 per cent stake in the joint venture with Bharat Heavy Electricals Limited (BHEL) for the coal-to-chemicals project in Odisha. "To form a JV company to undertake coal-to-chemicals business by initially setting up a Coal to 2000 tons per day (TPD) Ammonium Nitrate Plant using BHEL's in-house developed PFBG (Pressurized Fluidized Bed Gasification) technology," the company informed the bourses. "Equity shareholding shall be 51 per cent with CIL and 49 per cent with BHEL," the miner said. The CIL project involves its subsidiary Mahanadi Coalfields Limited (MCL) in Jharsuguda district of Odisha at an estimated project cost of Rs 11,782 crore considering a debt-equity ratio of up to 70:30, the government said earlier. The venture will kick off with the construction of a state-of-the-art Coal to Ammonium Nitrate Plant, leveraging BHEL's Pressurized Fluidized Bed Gasification (PFBG) technology. CIL, in a pivotal role, pledges to

Ministry of coal encouraging extensive diversification within CPSEs

The Coal Ministry on Tuesday said it is actively encouraging extensive diversification within central public sector units, including Coal India, in line with the country's commitment to varied energy mix. The ministry has two large Central Public Sector Enterprises (CPSUs), Coal India Ltd (CIL) and NLC India Ltd (NLCIL), under its administrative control. "In line with India's commitment to diversifying its energy mix, the Ministry of Coal is actively promoting extensive diversification within CPSEs, establishing pit-head TPPs, solar power plants, coal/lignite gasification plants, and critical mineral exploration," the coal ministry said in a statement. Stressing the use of de-coaled land for cost-effective pit-head thermal power plants, the ministry's directive targets to secure sustainable operations for both PSUs, foreseeing a future coal surplus. CIL is a hard-core coal company with seven arms while NLCIL is in lignite, power generation, new renewable energy and coal ...

PM to inaugurate South Eastern Coalfields projects in Chhattisgarh on Sat

Prime Minister Narendra Modi will virtually inaugurate three first mile connectivity projects of South Eastern Coalfields Ltd (SECL) in Chhattisgarh on Saturday. The First Mile Connectivity (FMC) projects are valued at Rs 600 crore. SECL is a subsidiary of Coal India. "Prime Minister Narendra Modi is scheduled to virtually inaugurate three key First Mile Connectivity projects of South Eastern Coalfields Limited (SECL), a Coal India Subsidiary under Ministry of Coal, in Chhattisgarh tomorrow," the coal ministry said in a statement. One project is the Dipka Open Cast Project (OCP) coal handling plant that has been constructed at a cost of over Rs 211 crore. With an annual coal handling capacity of 25 Million Tonne (MT), the project has an overground bunker with a capacity of 20,000 tonne and a 2.1 kilometre-long conveyor belt. This will facilitate the rapid loading of 4,5008,500 tonne of coal per hour, the statement said. The second project is the Chhal OCP coal handling plant, buil

Coal India may exceed capex target of Rs 16,500 crore for FY24: Govt

The government of Wednesday said the state-owned Coal India Ltd (CIL) is likely to exceed its capex target of Rs 16,500 crore for the current financial year. Coal India accounts for over 80 per cent of domestic coal output. "As we navigate through the current fiscal year of 2023-24, both CIL and NLCIL are on track to exceed their capex targets yet again... both CIL and NLCIL will exceed their annual capex targets, further bolstering India's economic growth trajectory," the coal ministry said in a statement. The capex target of NLC India Ltd (NLCIL) for the ongoing financial year is Rs 2,880 crore. The Ministry of Coal's capex target for FY24 is Rs 21,030 crore. Over the past few years, coal Central Public Sector Enterprises (CPSEs) have been over-achieving their capex targets. In FY22, CIL and NLCIL had achieved 104.88 per cent and 123.33 per cent of their capex targets, respectively. In FY23, both companies achieved around 113 per cent of their target. NLC India is a Navratna

40 bids received via offline mode for coal mines auction, says govt

The coal ministry on Monday said it has received 40 bids through offline mode for the coal mines put for sale under the ninth round of commercial auction. The government had launched the ninth round of commercial mines auction in December last year. "The Ministry of Coal has received an overwhelming response for the coal mines offered under the ninth round of commercial coal mine auctions. A total of 40 bids have been received in offline form," an official statement said. The ninth tranche of auction was launched for 32 coal mines. The last date for submission of bids was February 19, 2024. The online bids received as part of the auction process along with the offline bids will be opened on Tuesday in presence of bidders. In 2020, Prime Minister Narendra Modi launched the auction process for 41 coal blocks for commercial mining, a move that opened India's coal sector for private players.

Coal India to bid for 3 mines in critical minerals auctions in February

The world's largest miner has also visited lithium mines in Australia and is in preliminary talks about operating them, Chairman said

Coal India maintains top spot among CPSEs in GeM procurement, says govt

The government on Wednesday said Coal India Ltd (CIL) has maintained the top position among all Central Public Sector Enterprises (CPSEs) in Government e-Marketplace (GeM) procurement. GeM is an online platform for public procurement in the country. As on February 14, 2024, the procurement through GeM has soared to Rs 63,890 crore, which is 300 per cent of the annual target of Rs 21,325 crore, the coal ministry said in a statement. "The ministry of coal has achieved a remarkable milestone in Government e-Marketplace (GeM) procurement, surpassing its target for the fiscal year 2023-24," it said. "The significant increase in GeM procurement not only highlights the ministry's dedication but also underscores the robust collaboration and contributions from coal PSUs. "Their proactive involvement has been instrumental in driving GeM procurement success story, further solidifying their position as key stakeholders in India's coal sector," the ministry said.