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Coal imports to surge to a record in 2019, shipments will climb 11%: Adani
Posted on 10th May 2019
India’s thermal coal purchases are expected to surge to a record this year and remain robust through the next decade as domestic supply lags demand, according to the country’s largest importer.

Overseas shipments will climb almost 11% to 184 million metric tons during the financial year started April 1, and rise further to average about 200 million annually through the following decade, according Vinay Prakash, chief executive officer for coal and mining at Adani Enterprises Ltd.


CIL shuts underground mining with Centre push to convert all mines profitable
Posted on 26th April 2019
The Centre’s push to convert all Coal India Ltd (CIL) mines as profit-making mines has resulted in the closure of underground mines across subsidiaries since underground operations are not cost-effective.

The Centre’s push to convert all Coal India Ltd (CIL) mines as profit-making mines has resulted in the closure of underground mines across subsidiaries since underground operations are not cost-effective.


SECL crosses 150 million tonne coal production in FY19; first company in India to do so
Posted on 29th March 2019
The South Eastern Coalfields Ltd (SECL) has become the first company in the country to have crossed coal production figure of 150 million tonnes in a financial year. The SECL achieved the record during the 2018-19 fiscal and crossed the 150 million tonnes mark on March 20, a company official said.

CIL board approves second interim dividend of Rs 5.85 per share
Posted on 15th March 2019
New Delhi: State-owned CIL on Thursday said its board has approved second interim dividend of Rs 5.85 per equity share for the fiscal 2018-19.

"The board of directors in its meeting on March 14, 2019 approved payment of 2nd interim dividend for the financial year 2018-19 @ Rs 5.85 per share of the face value of Rs 10 as recommended by the audit committee of CIL in its meeting held on date," the PSU said in a filing to BSE.


Coal scam: ED attaches Rs 36.85-cr assets of MP-based firm
Posted on 13th March 2019
Assets worth over Rs 36 crore of a Madhya Pradesh-based company have been attached by the ED in connection with a coal blocks allocation scam case, the agency said on Tuesday.

It said a provisional order for attachment of properties like land, plant, machinery, office and factory buildings of Kamal Sponge and Steel Power Ltd (KSSPL), located in Rajasthan’s Jaipur and Satna in Madhya Pradesh, and its director Pawan Kumar Ahluwalia was issued by it on Monday under the Prevention of Money Laundering Act.


Analyst corner| Coal India: Maintain ‘hold’ with target price of Rs 243
Posted on 6th March 2019
Coal India’s shipments rose 3% year-on-year to 51.5 MT in February 2019. Key highlights: 1) shipments of large subsidiaries — MCL and SECL — rose 2% and 4%, respectively; 2) production grew 6.5% y-o-y to 58.1 MT led by MCL and SECL; and 3) pit-head inventory estimated at 35 MT as at February end, leading to improved coal availability. Going ahead, we expect: a) Coal India (CIL) to report 4.5% y-o-y growth in shipments in FY19; and 2) e-auction premium could dip, given the inventory build-up. Maintain ‘hold’ with `243 target price. The stock is currently trading at 9.5x FY21E EPS.

Coal India's bank interest income likely to fall after another buyback
Posted on 14th February 2019
Coal India Ltd’s or CIL’s consolidated income from bank interest and other investment sources is likely to fall further this year following the Maharatna’s proposal to buy back shares worth Rs 1,050 crore.

On a consolidated basis, the coal miner usually earns more than Rs 4,600 crore every year as interest from various banks, dividend from mutual funds, rental income as well as profit from sale of assets, among others.


Coal India Q3 net profit surges 50% to Rs 4,567 cr, beats Street estimates
Posted on 13th February 2019
Led by increased prices of coal amid lower provisioning for future expenses, Coal India posted a 50 per cent increase in its net profit at Rs 4,566.74 crore for the quarter ended December 31, 2018, beating Street estimates. The company's net income grew 12.58 per cent to Rs 23,385.43 crore, despite the firm offering lower quantity at e-auctions.

Govt subsidies on oil & gas down 76% between 2014 and 2017, coal stable
Posted on 11th February 2019
Indian government subsidies for fossil fuels, including oil and gas, have decreased by 76% over the three years to 2017, but subsidies for the coal industry have remained stable over the same period, a new study by think-tank International Institute for Sustainable Development (IISD), has found.

India, the world’s second largest consumer of coal and the fourth largest emitter of carbon dioxide, accounts for 7% of global emissions and continues to subsidise the loss-making, polluting coal industry.


Coal India to invest Rs 7,000 crore to procure equipment to augment production
Posted on 8th February 2019
Mining behemoth Coal India (CIL) has put the process of procuring various types and sizes of high capacity heavy earth moving machinery (HEMM) on the fast track to press these into operation in its open cast mines as soon as possible. This move would bolster CIL’s production on the back of an investment of above Rs 7,000 crores. This would be made out of the company’s Capex kitty, a CIL statement said.

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