Coal India Limited stocks for the second quarter, reported an interim dividend of Rs 15 per share. The company planned to distribute a dividend of Rs 20 per share for the current year, of which Rs 15 had already been disclosed, according to the ICICI Direct article. In the following years, the brokerage firm anticipates receiving an annual dividend of Rs. 22 and Rs. 25.
The Government of India’s Ministry of Coal is the owner of the central public sector enterprise known as Coal India Limited (CIL). Its main office is in Kolkata. It is the world’s biggest government-owned coal producer. With little around 272,000 workers, it ranks as India’s sixth-largest employer.
About 82% of India’s total coal production is a result of PSUs. It increased its production of raw coal to 554.14 million tonnes in 2016–17 from 494.24 million tonnes in FY 2014–15, and in that same fiscal year, coal sales brought in revenues of 95,435 crores (US$12 billion).
CIL is one of the seven organisations with the Maharatna designation when the Indian government granted it in April 2011. CIL is a PSU owned by the Central Government of India as of October 14, 2015, and the Ministry of Coal oversees its activities. CIL was the eighth most valuable corporation in India as of October 14th, 2015, according to market capitalization, which was 2.11 lakh crore (about 26 billion US dollars).
Coal India Limited is eighth among the top 20 companies accountable for a third of all carbon emissions worldwide.
With the exception of 2020, when inventories will reach a record high due to artificially low power consumption because of lockdowns, Coal India’s production increased for the seventh consecutive month in October while supplies decreased for the first time in 20 months.
On the BSE, the stock increased 2.59 percent to close at Rs 255.95 a share.
It soared 2.93 percent to close at Rs 256.85 a share on the NSE.
16.29 lakh shares were traded on the BSE in volume throughout the day, and over 4.03 crore shares were traded on the NSE.
The 30-share BSE Sensex finished Wednesday’s trading session 151.60 points lower, at 61,033.55 points.
Coal India Ltd (CIL) reported on Wednesday that its capital expenditure increased 33% to Rs 7,027 crore in April-September FY23 compared to the same time last year. The company’s CAPEX during the prior fiscal year totalled Rs 5,300 crore.
As sponge iron makers turned back due to concerns over the Russian blend, the proportion of South African thermal coal imports increased to the greatest levels in previous months, according to a report released this week by Coalmint.
However, the data indicated that for the fourth consecutive month, imports from Russia outpaced those from South Africa, while imports from Australia increased at the expense of shipments from Indonesia.
In order to enable quicker coal evacuation, the government is also taking steps to upgrade the rail link infrastructure for all significant mines under PM-GatiShakti. The Coal Ministry pledged to make sure that there was enough dry fuel available for the power sector.
This summer, many states had power interruptions because of a coal shortage.
The “power crisis,” according to the coal ministry, was actually caused by a dramatic fall in electricity production from various fuel sources, not by a lack of local coal.
Despite having greater liabilities than liquid assets, Coal India also has net cash of $407.4 billion. We were also delighted by the company’s 88% year-over-year improvement in EBIT. Therefore, the usage of debt by Coal India does not concern us. Without a doubt, the balance sheet provides the most useful information about debt. However, far from being the case, the balance sheet does not include all investment risk.