Coal India
 | |
| Company type | State-owned enterprise Public |
|---|---|
| BSE: 533278 NSE: COALINDIA BSE SENSEX Constituent | |
| Industry | Mining |
| Founded | 1975 |
| Headquarters | , |
Area served | India |
Key people | N C Jha (Chairman & MD) |
| Products | Coal, Lignite |
| Revenue |  ₹60,245 crore (US$7.2 billion) (2010-11)[1] |
| ₹10,867 crore (US$1.3 billion) (2010-11)[1] | |
Number of employees | 383,347 (April 2011)[1] |
| Website | www |
Coal India Limited (CIL) (BSE: 533278, NSE: COALINDIA) is an Indian state-controlled coal mining company headquartered in Kolkata, West Bengal, India and the world's largest coal miner with revenue exceeding ₹60,245 Crore (FY2010-11).[2][3] It was formerly owned entirely by the Union Government of India, under the administrative control of the Ministry of Coal. It is involved in coal mining and production industry. In April 2011, CIL was conferred the Maharatna status by the Union Government of India [4] and ranked as one of India's most valuable company by market value.
In 2010, CIL's initial public offering (IPO) got subscribed 15.28 times, collecting a record over Rs 2,40,000 crore (Rs 2,400 billion) – the highest IPO subscription so far.[5] On the first day of its listing on the Sensex, its stock closed 40% higher than IPO price.[6] It is India's largest ever public offer from Coal India Ltd. to raise up to ₹15,000 crore (US$1.8 billion).[7]
History
Coal India Limited was formed in 1973 as Coal Mines Authority Limited. In 1975 it was changed to Coal India Limited as a holding company with five subsidiaries:
- Bharat Coking Coal Limited (BCCL)(Dhanbad, Jharkhand)
- Central Coalfields Limited (CCL)(Ranchi, Jharkhand)
- Western Coalfields Limited (WCL)(Nagpur region)
- Eastern Coalfields Limited (ECL)(Sanctoria, Asansol, West Bengal)
- Central Mine Planning and Design Institute Limited (CMPDIL)(Ranchi, Jharkhand)
In 1985 two more subsidiaries were added:
- South Eastern Coalfields Limited (SECL)(Bilaspur)
- Northern Coalfields Limited, Singrauli (NCL,Singrauli)
In 1992 one more subsidiary added:
- Mahanadi Coalfields Limited (MCL) (Sambalpur)
One International Subsidiary
- Coal India Africana Limitada (CIAL) (Mozambique)
Two indirect subsidiaries (held through our subsidiary, Mahanadi Coalfields Limited)
- MJSJ Coal Limited
- MNH Shakti Limited
The Indian Institute of Coal Management (IICM) at Ranchi operates under Coal India Limited and imparts multi disciplinary management development programs executives.
Reviving of abandoned mines
Coal India Ltd (CIL), will extract coal from 18 abandoned underground mines owned by three of its subsidiaries in partnership with private players. Underground mining would be revived in 6 abandoned mines of Eastern Coalfields, 8 mines of Bharat Coking Coal, and 4 mines of Central Coalfields. These 18 mines have an approximate reserve of 1.647 billion tonnes of coal.[8]
CIL contributes around 85% of coal production in India. It is the largest company in the world in terms of coal production. It employs nearly 397,000 person and is the largest corporate employer in the country. It is one of the largest companies in the country, with turnover being around Rs. 386.31 billion in 2007-08. It is one of the largest tax payer (Corporate Tax ₹35.75 billion (US$430 million)) in 2007-08 and has paid Dividend of ₹17.054 billion (US$200 million) to the Govt. of India in 2007-08.
See also
References
- ^ a b c "2010 Form 10-K, Coal India Limited". Coal India Invester.
- ^ Katakey, Rakteem (2010-05-13). "World's Largest Coal Producer Plans $555 Million Savings by Using Machines". Bloomberg. Retrieved 2010-10-21.
- ^ September 04, 2009 12:00AM (2009-09-04). "Rio, Hancock planning to sell mine stakes to Coal India | The Australian". Theaustralian.news.com.au. Retrieved 2010-10-21.
{{cite web}}: CS1 maint: numeric names: authors list (link) - ^ Coal India gets Maharatna tag - Economic Times Article
- ^ "Retail investors join the Coal India party". business.rediff.com. Retrieved 25 Oct 2010.
- ^ Sinha, Varun (4 November 2010). "Sensex hits 52-week high on global cues, Coal India listing". NDTV. Retrieved 4 November 2010.
- ^ CIL in Fortune India list
- ^ Coal India to restart excavation in 18 abandoned mines[dead link]
