Coal India

The state-owned miner needs to raise prices but it is caught between the political constraints on its major buyer, electricity producers and close decision-making control by the coal and power

At the same time, coal dispatches increased by 7.49 per cent to 83.18 million tonnes from 77.38 million tonnes during March 2023 as compared to March 2022

Central Coalfields Limited (CCL), a Coal India subsidiary, has posted a record output of 76.09 million tonne (MT) in 2022-23 fiscal, registering 11 per cent growth over the previous fiscal's production of 68.85 million tonne. The target for the fiscal, which ended on Friday, had been fixed at 76 mt. "This is for the first time since 2018-19 when target was not only achieved but it surpassed too," CCL chairman-cum-managing director PM Prasad. Speaking to media persons here on Saturday, he said that the production target for the current fiscal of 2023-24 is 84 million tonne. The Jharkhand-based CIL arm also achieved a record off-take at 75.03 mt during the last financial year, with an increase of 4.5 per cent against 71.8 mt achieved in fiscal 2021-22. "The company's overburden removal (OBR) rose to historic high at 107 million cubic metres (MCuM) in 2022-23 with growth of 7 per cent against 100.1 MCuM in 2021-22," he said. Dispatch to power sector surged by 8.8 per cent from 59.2 m

State-owned CIL on Friday said it has conceptualised a mega digital transformation programme to "reimagine" its mining operations. The move will help achieve the target of 1 billion tonnes (BT) of coal production by FY26. The coal behemoth launched the 'Project Digicoal' and a 'Digital War-Room' to monitor and assist this project at its headquarter in Kolkata. This project will help Coal India's (CIL) mining operations become future ready using advanced digital solutions, the public-sector unit said in a statement. "With the launch, the project went live in seven coal mines of CIL encompassing Gevra, Dipka and Kusmunda mines in SECL and Nigahi, Jayant, Dudhichua and Khadia mines in NCL," it said. CIL has roped in Accenture as its consultant to design and implement the project. "Launch of 'Project Digicoal' is an important milestone of digitalisation in CIL. This project will help make the processes efficient," CIL Chairman Pramod Agrawal said while launching the project. "The pr

Volume surpasses CIL's own output target, is up 12% over last year's figure

While Street is divided, positives include robust demand, e-auction volumes

Miner needs to be 'adequately compensated'; stakeholders being consulted before a decision

Outstanding dues payable by power producers to Coal India for fuel supplies have increased by Rs 3,293.50 crore to Rs 16,629.41 crore since March 31, 2022, Parliament was informed on Monday. "The outstanding dues payable by power sector for the coal sales by Coal India Ltd (CIL)" were Rs 13,335.91 crore as of March 31 last year, Coal Minister Pralhad Joshi said in a written reply to the Rajya Sabha. The figures are provisional. Further, the minister said that increase in outstanding dues of the coal mining PSUs impacts the working capital and cash flow position of the coal company. CIL, which accounts for over 80 per cent of domestic coal production, is a major supplier of dry fuel to electricity generating plants. Amid the early onset of summer and a pick-up in industrial demand for electricity, CIL had last week said that it is geared up to meet the demand for dry fuel from the power sector. The public sector coal producer had also expressed its hope to supply 156 million tonne

Among individual stocks, the technical & derivative analyst from HDFC Securities recommends to buy Zydus Life and Coal India

In the past three years, SECL's coal production has decreased

Coal shortfall poses fresh challenges for the economy

Financial mismanagement of the pension scheme has depleted corpus meant for pensioners of public sector mines

Stocks to watch today: The Board of Adani Enterprises (AEL) has announced that it will not go-ahead with the fully subscribed Follow-on Public Offer (FPO)

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

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

Stocks to watch today: In a 413-page document, Adani retaliated against the American short-seller, saying the document was a "malicious combination of selective misinformation and concealed facts"

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 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 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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