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Coal import bill drops by Rs 28,000 cr in FY16
Posted on 6th April 2016
Helped by a record coal production by the world’s largest coal miner Coal India Ltd (CIL), India reduced its import bill of the dry fuel by more than Rs 28,000 crore in the last fiscal.

“Record coal production by CIL leads to a reduction in import by 34.26 million tonnes (MT). Results in a saving of Rs 28,070 crore in foreign exchange during 2015-16,” Coal Secretary Anil Swarup said in a tweet.


Coal India misses 2014-15 production target, but clocks 8.6% growth
Posted on 2nd April 2016
Although Coal India (CIL) missed its production target for 2014-15 by nearly 2.5 per cent at 536.5 million tonnes (mt), the company registered an output growth of 8.6 per cent compared with 2013-14. Its offtake, under tapered demand for coal, also rose 8.8 per cent during the year ended March 31, 2015.

Coal minister Piyush Goyal tweeted the growth to be the highest ever in “almost three decades”.


Maintain ‘buy’ on Coal India with target of Rs 376: Edelweiss
Posted on 30th March 2016
We met senior management of Coal India (CIL) to know more about the steps the company is taking to tackle the impending wage hike and meet its sales target. CIL is confident of mitigating effects of the impending wage hike and increase in clean energy cess. It has maintained its production target of 598 million tonnes for FY17. CIL is targeting to reduce costs by 5% every year primarily through manpower cost rationalisation and enhancing operating and supply chain efficiencies.

Govt may revise Coal India output target downward
Posted on 26th March 2016
The coal ministry is mulling reduction of Coal India’s production target for the next fiscal with the country likely to end FY16 with a stockpile of 90 million tonne — 55 MT at CIL’s pitheads and 35 MT inventory at power plants.

The ministry has set the target for CIL to produce 605 MT in FY 17. So with a pithead stock of 55 MT, the coal behemoth will have to make plans for selling 660 MT.


Coal India to get anti-theft technology by end of April
Posted on 15th March 2016
NEW DELHI: Coal India's measures to prevent theft by electronically "fencing" mining areas and fitting trucks with a GPS-based tracking system will be finished by the end of April, a government official said.

As much as a fifth of the state-run company's annual output is stolen, costing it up to $1 billion each year and feeding a huge black market in the fuel.


Coal India turns ex-dividend
Posted on 14th March 2016
Coal India is trading higher by 2.4% at Rs 299 (adjusted to dividend) on the National Stock Exchange (NSE). The stock turned ex-dividend for Rs 27.40 per share today.

The board of directors of Coal India at its meeting held on March 5, 2016, had approved payment of interim dividend for the financial year 2015-16 @ Rs 27.40 per share of the face value of Rs 10.


Left with some Rs 20,000 crore in cash, Coal India may not be rich as its accounts show
Posted on 11th March 2016
KOLKATA: Successive governments can't help but salivate on the near Rs 60,000 crore of cash & bank balance that Coal India carries in its consolidated balance sheet. They have time and again asked the world's largest coal producer to part with the money in form of hefty dividends. But a closer look at the accounts will show that at present Coal India is left with some Rs 20,000 crore only as actual cash balance including some Rs 8,000-Rs 9,000 crore for working capital after paying dividend this year.

Coal stock increases in some mines on regulated lifting: CIL
Posted on 8th March 2016
State-owned Coal India Tuesday said the stock in some of its mines has increased due to regulated lifting by the power producers.

"Due to regulated lifting by the power houses, coal stock has increased in some of the mines of Coal India Ltd," the PSU said in a filing to BSE.


Central trade unions in CIL collieries to go on strike
Posted on 5th March 2016
The central trade unions today announced their decision to go ahead with the proposed nationwide strike on March 29 citing failure of talks with CIL management and ministry of coal over auction of coal blocks to private companies.

An estimated 3 lakh permanent miners and 1.80 lakh private outsourcing workers of Coal India collieries would go on strike in protest against auctioning of coal blocks to private companies, General Secretary of Rashtriya Colliery Mazdoor Sangh (RCMS) A K Jha said here.


Coal India output rises
Posted on 3rd March 2016
Calcutta, March 2: Coal India's production has increased 9.2 per cent in the first eleven months of 2015-16. Production during the period was 477.31 million tonnes (mt) against a target of 491.27mt.

In February, the public sector miner produced 51.01mt with five of the eight subsidiaries achieving their actual production target for the month. However, only two subsidiaries achieved the offtake target as demand was subdued and thermal power plants had surplus coal.


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