Coal India will hold a meeting of the Board of Directors of the Company on 2 May 2024.Powered by Capital Market - Live News

Coal India`s (CIL) capital expenditure as whole has risen by 6.5% on year to Rs.19,840 crore ending FY 2024, the highest till date. Comparatively, the capex was Rs. 18,619 crore in the preceding fiscal year. CIL achieved 120% 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. With the company focusing on strengthening coal transportation and handling infrastructure in its mining areas, capex under this head was highest among others at Rs.6,070 crore, 30.6% of the year`s capex spend. 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. South Eastern Coalfields Limited (SECL) and Mahanadi Coalfields Limited (MCL) between them accounted for 65.4% of this head with Rs. 2,214 crore and Rs. 1,754 crore respectively. Evincing a sharp upward swing on land acquisition and associated rehabilitation and resettlement, capex for land was Rs.5,135 Crores in FY 2024, the second highest, posting a jump of 52.5% over Rs.3,367 crore of FY 2023. CIL requires large tracts of land to enhance its production from OC mines which account for 96% of the company`s total output. CIL`s three subsidiaries Central Coalfields Limited (CCL), SECL and MCL lined up 77.3% of the capex under land head. CCL led the list with Rs.1,909 Crores followed by SECL at Rs. 1,159 Crores and MCL, Rs.904 Crores. These three companies have sizeable production potential in future. Combined they are expected to contribute around 68% to CIL`s 1 Billion Tonne output goal. Procurement of heavy earth moving machinery (HEMM) made up the third highest head with Rs.3,078 Crores during FY 2024 achieving the target satisfaction of 156.5%. The target was Rs.1,965 Crores. Northern coalfields Limited alone took up Rs.2,262 Crores. In its technology and modernization drive, CIL continuously upgrades its mining fleet having larger capacities, better safety and ergonomic features. The remaining capex amounting to Rs.5,557 Crores was spread among other heads which include solar projects, joint ventures, washeries, other plant and machinery, mine development activities including safety, environment, exploration & prospecting and office equipment etc. Powered by Capital Market - Live News

Coal India recorded coal production of 88.6 million tons in month of March 2024 compared to 83.5 million tons in March 2023, recording a growth of 6.1%. The company achieved offtake of 68.8 million tons in March 2024 compared to 64.2 million tons in March 2023, recording a growth of 7.2%. For FY2024, coal production stood at 773.6 million tons (higher by 10%) and offtake was 753.5 million tons (higher by 8.5%). Powered by Capital Market - Live News

Coal India`s (CIL) coal supplies to thermal power plants of the country hit 610.8 million tonnes (MTs) on Wednesday surpassing the annual target of 610 MTs to this sector. This was highest to date and the company achieved the feat four days earlier than the FY 2024 closure. Compared to 581.5 MTs of last fiscal`s same period the increase was 29.3 MTs or 5% higher. Currently CIL`s supplies to the coal fired plants are averaging 1.76 MTs per day amidst growing demand from the power sector. This is the second consecutive year that CIL`s coal supplies to power sector exceeded the target. In FY 2023 off-take to power plants was 586.6 MTs against the programmed commitment of 565 MTs. Bolstered by higher supplies from CIL, coal stock at domestic coal-based power plants shot up to 47.1 MTs (as on 26 March) ahead of onset of the summer. The stock is 13.7 MTs more compared to same period last year. Coal stock at power plants was 33.4 MTs as of same date in FY 2023.Powered by Capital Market - Live News

Coal India on Thursday signed a memorandum of understanding (MoU) with Haryana Power Purchase Centre (HPPC) which expressed its interest to purchase 800 MW of power from `Mahanadi Basin Power` (MBPL) a wholly owned subsidiary of Mahanadi Coalfields (MCL). The MoU`s purpose is to formalise and define the basic framework of discussions for the power purchase agreement. MCL is the highest coal producing arm of CIL that operates in Odisha. Haryana State is keen to ensure electricity availability to meet its expanding energy demand. As per the MoU framework, power purchase will be under Section-62 of the Electricity Act, 2003. This refers to determining the power tariff in accordance with the provisions of the act, by the appropriate commission, for supply of electricity by a generating company to a distribution licensee. Powered by Capital Market - Live News