Coal India Limited: History, Latest Updates, Milestones, Subsidiaries & Share Price
INTRODUCTION
Established in November 1975, Coal India Limited (CIL) is the world's largest coal producer and a major corporate employer with 239,210 employees as of April 1, 2023. CIL operates through subsidiaries in 83 mining areas across eight Indian states, managing a total of 322 mines, including 138 underground, 171 opencast, and 13 mixed mines. The organization oversees workshops, hospitals, 21 training institutes, and 76 vocational training centers. Notably, the Indian Institute of Coal Management (IICM) serves as the largest corporate training institute in India, operated under CIL. CIL holds the prestigious Maharatna company status, granted to select state-owned enterprises by the Indian government, empowering them to expand their operations and achieve global industry leadership. This status is exclusive, held by only ten out of over three hundred Central Public Sector Enterprises in India.
COAL INDIA LIMITED MOVES IN 2024:
On Jan 2024, The Indian Cabinet approved the establishment of two pithead thermal power plants in Madhya Pradesh and Odisha through joint ventures between South Eastern Coalfields (SECL) and Mahanadi Coalfields (MCL). The move aims to provide cheaper power, with a 1×660 MW plant in Chachai, Madhya Pradesh, and a 2x800 MW plant in Sundergarh, Odisha.
Coal India has accomplished an impressive milestone by reaching nearly 80% of its production target for the fiscal year 2024 in just ten months. As India's largest mining company, Coal India Ltd. has successfully achieved 78% of its set production goal for the current financial year.
State-owned Coal India Ltd. announced on Feb 2024 that it supplied 509 million tonnes of coal to thermal power plants, marking a 5% increase from April to January in the fiscal year 2024.
On 3rd Feb 2024, Prime Minister Narendra Modi is set to inaugurate four projects of Mahanadi Coalfields Limited (MCL) in Sambalpur, with a total investment of Rs 2,145 crore.
Uday A Kaole has been appointed as the chairman-cum-managing director of MCL, a subsidiary of Coal India. With 36 years of extensive technical and administrative experience in the coal mining sector, Kaole has a significant background in managing both challenging underground coal mines and opencast mines, as stated by MCL.
On April13, 2023 - Coal India Limited organizes stakeholders meet on promotion of underground mines in India.
On May 25, 2023 - Coal India launches WhatsApp Chatbot "CoalMitra"
On June 12,2023 - Coal India's second campus for training MINREM, with state-of-the-art facilities inaugurated.
On June 21, 2023 - Coal India installs 250kWp solar power project.
On July 1, 2023 - Shri.P.M. Prasad assumed charge as Chairman of Coal India Limited.
On July 31, 2023 - The 21st meeting of national dust prevention committee (NDPC) held.
On August 23,2023 - 49th Annual General Meeting of Coal India held.
On August 25, 2023 - CVO, Coal India chairs a review meeting of Coal India subsidiary CVO's.
On September 12, 2023 - 59th Coal India Limited Safety Board held.
On September 13,2023 - As part of its commitment to environmentally sustainable coal transportation, Coal India Limited (CIL) is set to invest approximately Rs. 24,750 Crores in the coming years for the implementation of 61 First Mile Connectivity (FMC) projects.
On September 15,2023 - Coal India signs MoU with Boarder Security Force (BSF) to establish RO water filtration plants in West Bengal border outposts.
On October 2, 2023 - Coal India Limited (CIL) produced about 333 million tonnes (MTs) of coal ending first half of the current financial year posting a strong 11.3% year-on-year growth. This marked an increase of nearly 34 million metric tons (MTs) compared to the same period in fiscal year 2023.
EVOLUTION OF COAL INDIA LIMITED: FROM PAST TO PRESENT:
|
Year |
Evolution |
|
June 14th, 1973 |
Coal Mines Authority Limited, a private limited company |
|
November, 1975 |
Coal India Limited, under Central Governments Control |
|
1975-1976 |
The establishment of CMPDIL, ECL, and WCL as subsidiaries, alongside the creation of BCCL, CCL, CMPDIL, ECL, and WCL. |
|
1979-1980 |
The construction of the low-temperature carbonized plant commenced at Dankuni Coal Complex. CMPDIL's pricing policy was reevaluated to ensure a commercial approach instead of a "no-profit, no-loss" basis. |
|
1980-1981 |
- Five new washeries (Moonidih, Ramgarh, Mohuda, Barora, and Kedla) were constructed. - Total coal production by the Company and Subsidiaries exceeded 100 million tonnes. |
|
1981-1982 |
Introduction of coal retention prices via an amendment to the Colliery Control Order, 1945, through a March 31, 1982 notification for their Subsidiaries. |
|
1985-1986 |
Establishment of NCL and SECL as Subsidiaries under the Company to oversee specific mines previously managed by WCL and CCL. |
|
1987-1988 |
The 'Blasting Gallery Method' was implemented at East Katras mine in BCCL and Chora mine in ECL |
|
1992-1993 |
MCL was created as a CIL subsidiary to oversee the Talcher and IB Valley mines in the state of Orissa. |
|
2009-2010 |
Formation of Coal India Africana Limitada, a foreign subsidiary in Mozambique, and conversion of the company into a public limited entity. |
|
2011 |
CIL seeks partnerships with private companies for a gasification project. |
|
2012 |
CIL enters into a MOU with the Government. |
|
2016 |
CIL collaborates with IOC for the production of bulk explosives. |
|
2017-2020 |
CIL entered into a MOU with the Government (yearly basis) |
|
Company Information |
|
|
Name |
Coal India Limited |
|
Founded year |
November, 1975 |
|
Founding chairman |
Ministry of Coal, Government of India. |
|
Headquarters |
Kolkata, West Bengal, India |
|
Industry |
Mining, Refinery |
|
Current chairman & MD |
PM Prasad |
|
Major subsidiaries |
|
|
Revenue |
Rs. 144,802.60 crore (US$18 billion) (2023) |
|
Geographical Presence |
India |
|
NSE code |
COALINDIA NSE NIFTY 50 Constituent |
|
BSE code |
533278 |
TIMELINE OF COAL INDIA LIMITED:
|
Year |
Fact |
Description |
|
June 14th, 1973 |
private limited company |
Coal Mines Authority Limited |
|
November, 1975 |
Central Governments Control |
Coal India Limited |
|
1975-1976 |
Subsidized |
CMPDIL, ECL, and WCL |
|
1979-1980 |
Commenced |
Dankuni Coal Complex. |
|
1980-1981 |
Established |
New Washeries |
|
1981-1982 |
Introduced |
Colliery Control Order |
|
1985-1986 |
Subsidized |
NCL and SECL |
|
1987-1988 |
Implemented |
'Blasting Gallery Method' |
|
1992-1993 |
Subsidized |
MCL |
|
2009-2010 |
Subsidized |
Coal India Africana Limitada |
|
2011 |
Partnership |
Gasification Project |
|
2012 |
MoU |
With Government |
|
2016 |
Collaborates |
Bulk Explosives Production |
|
2017-2020 |
MoU |
With Government |
INSIDE COAL INDIA LIMITED: EXPLORING SUBSIDIARY VENTURES:
Coal India Limited
Corporate Actions/ Main News:
-
49th Annual General Meeting was held on 23rd August ,2023.
-
On 2nd October, 2023, CIL’s output up 11.3% in H1 FY 2024; supplies to power plants surge by10 MTs.
-
On 13th October,2023 - CIL is providing a financial boost of Rs. 24,000 crores for the development of 61 environmentally sustainable First Mile Connectivity (FMC) projects.
-
On 2nd September, 2023, CIL logs 15.3% supply growth in August’23; output rises 13.2%.
-
On 18th August, 2023, CIL’s capex grows 8.5% to Rs.4700 Crs in April-July FY 2024.
-
On 1st August, 2023, CIL’s production up 14% in July’23; supplies notch 9.3% growth.
South Eastern Coalfields Limited (SECL):
Corporate Actions/ Main News:
Achieving recognition as the recipient of the 'Best CSR Practices Award' from World CSR Day.
Best Water Management Award at Water Digest World Water Awards
Mahanadi Coalfields Limited (MCL)
MCL bags 10 coal ministers’ awards
COAL INDIA LIMITED SUBSIDIARIES NSE/BSE: Current Share Prices
|
COMPANY NAME |
SECTOR |
SHARE PRICE LINK |
|
Coal India Limited |
Mining & Refinery |
ACHIEVEMENTS & MILESTONE:
|
Year |
Achievements |
|
2020 |
CIL receives the "Best Strategic Performance" award |
|
2019 |
CIL is honoured with the "Public Sector of India" award. CIL is recognized with a CSR award for rural development. The company is presented with the "Best Enterprise Award" by the Forum of Women in Public Sector (WIPS). |
|
2018 |
The "Best Enterprise Award" is again conferred upon CIL by the Forum of Women in Public Sector (WIPS). |
|
2011 |
Coal India Limited receives an international award and explores partnerships with private companies for a gasification project. |
|
2010 |
In 2010, the Company's Chairman and Managing Director, Mr. Partha S. Bhattacharyya, was awarded the 'CEO with HR Orientation' by the Council of World HRD Congress at the Global HR Excellence Awards Ceremony. |
|
2009 |
In 2009, the company emerged as one of the top five finalists in the 'Energy Producer of the Year' category at the 11th Platts Global Energy Awards and also earned the 'World's Largest Coal Producing Company' accolade at the inaugural Dalal Street Investment Journal PSU Awards. |
|
2008 |
In 2007-08, the Company earned the 'SCOPE Gold Trophy' for Excellence in Public Sector Management and attained 'Navratna' status from the Department of Public Enterprises, GoI, recognizing CILs operational efficiency, financial strength, and enhanced decision-making autonomy. |
|
2007 |
In 2007, the Company was honoured with the 'Enterprise Excellence Award' by the Indian Institution of Industrial Engineering, and CCL was granted 'Mini Ratna' status by the Department of Public Enterprises, GoI. |
|
2006 |
Granting of 'Mini Ratna' status by the Department of Public Enterprises, GoI, to the Company, MCL, NCL, SECL, and WCL. |
|
Year |
Milestone |
|
2015 |
CIL, in partnership with GAIL (India) Ltd, RCF Ltd, and FCL Ltd, established a Joint Venture (JV) called Rashtriya Coal Gas Fertilizers Ltd. CIL received the prestigious 'Rashtriya Khel Protsahan Puruskar 2015' award. |
|
2014 |
Coal India allocated Rs. 235 Crores for the Clean India initiative. |
|
2012 |
CIL signed FSAs with 14 power companies. The government allocated 116 mines to CIL to boost production. |
|
2011 |
Coal India was included in the SENSEX. |
|
2008 |
Total coal production by the Company and Subsidiaries exceeded 400 million tonnes. |
|
2006 |
Introduction of the 'e-auction method' for coal sales. ECL and BCCL reported profits of Rs. 3,638 million and Rs. 2,026.67 million, respectively, in Fiscal 2006. |
|
2003 |
Coal production by the Company and Subsidiaries surpassed 300 million tonnes. |
|
1997 -2003 |
A USD 1.03 billion loan from the World Bank and the Japanese Bank for International Co-operation supported 24 open-cast projects with global equipment sourcing, with USD 484.40 million utilized between Fiscal 1998 and Fiscal 2004. |
|
1996 |
The Company reported a profit of Rs. 6,116 million in Fiscal 1996. |
|
1992 |
In 1991, the Company's profit began to rise, reaching Rs. 1,670 million in Fiscal 1992, while coal production exceeded 200 million tonnes. Annual coal prices were adjusted to address input cost increases using the BICP escalation formula. |
CONCLUSION
CIL is modernizing coal transportation with mechanized conveyor systems in large mines to reduce road reliance. This includes 61 FMC projects in three phases by 2028-29, increasing capacity to 914.5 MTPA from 151 MTPA. This shift enhances environmental safety, curbs pilferage, and streamlines coal loading, saving costs and improving efficiency. CIL is committed to securing the nation's energy needs with a roadmap for 1 Bt coal production by 2025-26, having already identified essential resources and projects.
FREQUENTLY ASKED QUESTIONS:
What is the Coal India Limited Share Price NSE?
You can check Coal India Limited Share Price Today on Enrich Money's stock analysis page.
What does Coal India Limited focus on?
Coal India Limited focuses on refinery and mining.
Where can I find financial and technical information related to Coal India Limited?
You can check Coal India Limited Share Price Today on Enrich Money's stock analysis page for all financial, technical, shareholding pattern, corporate action, news , and Airtel India Share Price information related to Bharti Airtel.
What is the future production target of CIL?
CIL envisions achieving a coal production of 1 billion tonnes (1 Bt) by the year 2025-26 to meet the coal demand of the country.
What is the purpose of CIL's 'First Mile Connectivity' (FMC) projects?
The 'FMC' projects aim to transition to mechanized coal transportation through conveyor belts in CIL's large mines by 2023-24, minimizing road transport and increasing efficiency.
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