Page 10 - Coal India

Coal India's capital expenditure rises 33% to Rs 7,027 crore in Apr-Sep

Coal India Ltd on Wednesday said its capital expenditure grew 33 per cent to Rs 7,027 crore in April-September FY23 as compared to the year-ago period. The company's capex in the year-ago period stood at Rs 5,300 crore. The two coal evacuation infrastructure heads - setting up of coal handling plants (CHP)/silos and railways lines - together accounted for 36 per cent or Rs 2,547 crore of the total capex in the period under review, CIL said in a statement. "Capex push is essential for long-term growth prospects. To align the increasing production with robust transportation logistics, CIL is fast-tracking the development of its coal evacuation system. This would help in handling the seamless movement of coal in future," a senior executive of the PSU said. Construction of CHPs/silos under first mile connectivity was the major capex head at Rs 1,489 crore during the six-month period of FY23, as compared to Rs 614 crore a year ago. This affirms the company's intention to put in place

How govt's tight control is slicing away Coal India's creamy layers

Larger shares of the state-owned miner's production are sold significantly below global benchmark prices, deterring global investors from participating in divestment plans

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 India Q2 profit rises 106% to Rs 6,044 crore, net sales up 29%

Coal India Ltd on Monday reported a consolidated net profit of Rs 6,044 crore for the second quarter ended September 2022, a jump of 106 per cent over the corresponding quarter profit of Rs 2,932 crore registered last year. The miner registered net sales of Rs 27,538 crore for the quarter under review, a rise of 29 per cent in the same quarter of the previous year's net revenue of Rs 21,292 crore. Higher demand for coal due to global shortage has helped better auction realisations. On a sequential basis, the net profit declined from Rs 8,834 crore in the previous June quarter (Q1 FY23). The total expense during the quarter was Rs 23,770 crore while it was Rs 20,424 crore in the corresponding quarter of FY22. The dry fuel miner sold 10.36 million tonnes through e-auctions in the September quarter with an average realisation of Rs 6,061 per tonne. Regulated sales stood at 141.64 million tonnes. The raw coal production during the second quarter improved to 139.22 million tonnes as .

Stocks to watch: SBI, DRL, Britannia, Coal India, Divi's Lab, Paytm, ABFRL

Stocks to watch today: Coal India, Divi's Lab will report the July-September quarter (Q2FY23) results on Monday, November 7; SBI's net profit climbed 73.9 per cent YoY to Rs 13,265 crore in Q2FY23

South Eastern Coalfields tops in coal output among CIL subsidiaries

South Eastern Coalfields (SECL), the highest coal-producing company among the eight entities of CIL over the years, was outshined by Odisha-based Mahanadi Coalfields (MCL) in FY22

Mining & metal companies see reversal of fortune in September quarter

Profits down 91% in Q2, driven by margin contraction because sales realisation did not keep pace with rise in expenses

Coal India production increases 17% in April-October to 352 million tonnes

State-owned CIL on Tuesday said its coal production increased by 17.4 per cent to 351.9 million tonnes (MT) in the April-October period of the ongoing fiscal. The company's coal output in the corresponding period of last fiscal was 299.6 MT, Coal India Ltd (CIL) said in a filing to BSE. The coal production by the maharatna firm also increased to 52.9 MT last month, over 49.8 MT of coal production in the corresponding month of previous fiscal. The public sector enterprise also said its coal offtake during April-October went up to 385.7 MT from 364.4 MT in the year-ago period. However, in October the offtake dropped to 53.7 MT from 56.5 MT in the same month of last fiscal. The coal major did not give the reason for the drop in offtake. Coal India accounts for over 80 per cent of domestic coal output. CIL will achieve 1 billion tonnes of coal production target by 2025-26 as against the earlier timeline of 2023-24 in view of the COVID-19 pandemic, coal minister Pralhad Joshi had earl

Coal India powers productivity spurt, but can it sustain the pace?

The furious pace of production has helped prevent the blackouts of last year but there are questions over whether the state-owned miner can sustain the pace

Centre to soon waive compensation cess on coal gasification: Report

After the removal of cess, the cost of producing methanol is expected to come down by Rs 800-900 per million tonnes

Coal India subsidiaries need to achieve annual targets: Pralhad Joshi

Union Coal Minister Pralhad Joshi on Thursday said to meet the coal requirements of the country, it is necessary that all subsidiaries of Coal India Ltd (CIL) achieve their annual targets. Joshi visited Western Coalfields Ltd headquarters in Nagpur and attended various programmes, said a press release issued by WCL. Western Coalfields Ltd (WCL) is one of the eight subsidiary companies of CIL, a central PSU. The minister also presided over a review meeting and took stock of the production, productivity and coal dispatch status of WCL, said the release. Chairman-cum-Managing Director of WCL Manoj Kumar briefed the minister on coal mining activities and assured the company would achieve the production target by the year-end. In order to meet the coal requirements of the country, it is necessary that all CIL subsidiaries achieve their annual targets, the release quoted Joshi as saying. He said to make the country self-reliant in the coal sector, it is necessary to strengthen the ...

Gencos procure 5.8% of total order value from Coal India's import tenders

CoalMin confident that domestic supply will meet festive season's power demand

Stocks to Watch: Harsha Engineers, Britannia, Coal India, Anupam Rasayan

Stocks to Watch: Harsha Engineers will make its debut on the bourses today. The issue price is fixed at Rs 330 per share. As per IPO Watch, the stock can list with a 50 per cent premium

Gas-starved Europe's revival of coal plants spells bad news for India

Coal consumers in India are taking evasive action to save their balance sheets

Stocks to Watch: HDFC Life, TCS, Zee Entertainment, OMCs, Coal India

Stocks to Watch: Abrdn, formerly Standard Life, is looking to sell 2 per cent of its stake in private sector insurer HDFC Life via block trades on Tuesday

Resistance for Nifty seen at 17,725; Stocks to buy in September F&O series

Coal India, City Union Bank, Cummins, IDFC First Bank and Piramal Enterprises are the five F&O stocks tha can deliver up to 21 per cent returns in the September series.

Why are public sector companies unable to attract talent for higher posts

It is not just that state-owned company leadership are paid much less than what their smaller competitors are paid but their performance is not linked to rewards

Demand uptick positive for NTPC, Coal India; price uptrend may continue

The Fuel Supply Agreement (FSA) realisation was Rs 1,443 per tonne and the e-auction realisation was Rs 4,340 per tonne

Coal stock at electricity generating plants rises to about 30 MT: CIL

Coal stocks at power generating plants rose to about 30 million tonnes last month, state-run Coal India said on Thursday, dispelling fears of shortages of dry-fuel during the monsoon season. The government has been making all efforts to build up coal stocks to avoid the reoccurrence of power outages seen during the summer this year. "...coal stock at power plants is close to 30 MTs, including imported coal, ending August 22 (till 29th). This is substantially higher than 12.8 MTs of August '21 when the stock plummeted by 11.2 MTs in a month," Coal India Ltd (CIL) said in a statement. The PSU said that enhanced supply of fuel from CIL helped the stock stabilise at power houses. "Closing stock for the month of August'22 is a six-year high barring 2020 when pandemic fuelled slowdown saw the stock at 37.7 MT," it said. With a stock of dry-fuel of 31 MT at CIL's pitheads, around 30 MT stock at power plants, and a little over 10 MT at PSU's sidings, goods sheds, private washeries, ports,

Coal India Q1 results: Firm's net profit soars 178% to Rs 8,834 cr

The company's consolidated revenue from operations rose 39% to Rs 35,092 crore in Q1FY23