CIL Annual - Report 23-24

Meeting
India’s
growing energy
needs
Integrated
Annual Report 2023-24
Contents About the Report
CORPORATE OVERVIEW FINANCIAL STATEMENTS We are pleased to present our Integrated Annual Report, designed to
04 Year in Review Standalone Financial Statements offer a comprehensive perspective on our efforts towards sustainability
06 Performance Highlights 340 Balance Sheet and strategic value creation. This report demonstrates our commitment
12 At a Glance 341 Statement of Profit and Loss
16 Operational Footprint 342 Statement of Changes in Equity
to maintaining transparency and providing detailed, consistent
18 Business Model 344 Statement of Cash Flows information across a spectrum of stakeholders, amidst the complexities
20 Operating Environment 346 Notes to the Financial Statements of a dynamic market environment.
22 Risk Management
30 Material Matters Consolidated Financial Statements
32 Stakeholder Engagement Reporting framework Reporting scope and boundary
412 Balance Sheet
36 Governance 413 Statement of Profit and Loss Our report delivers an extensive overview
38 Core Team 414 Statement of Changes in Equity of Coal India’s operations, highlighting Integrated Reporting Boundary
40 Board of Directors 416 Statement of Cash Flows crucial disclosures connected to the six
48 Chairman’s Statement 418 Notes to the Financial Statements capitals as identified by the International
51 Awards in 2023-24 Integrated Reporting Council (IIRC). It COAL INDIA LIMITED
56 Financial Capital covers aspects of our business model, Financial Reporting Boundary
the context of our operations, potential
62 Social and Relationship Capital
GREEN INITIATIVES risks, opportunities, and our governance
72 Manufactured Capital
495 Green Initiatives and performance metrics.
82 Natural Capital Subsidiaries, Joint Ventures, Investments
92 Intellectual Capital Alignment with regulatory
100 Human Capital standards includes: 1 2 3 4
111 Board of Directors NOTICE • The Companies Act, 2013 Operating

Governance Risks Outcomes
Environment
113 Members of the Board • Indian Accounting Standards
496 Notice
114 Bankers, Auditors, Registered Office and RTA • The Securities and Exchange
115 Operational Statistics Board of India (Listing Obligations
Stakeholders
and Disclosure Requirements)
MAJOR ABBREVIATIONS
Regulations, 2015.
510 Major Abbreviations
STATUTORY REPORTS
Shareholders Customers Employees Government/
132 Directors’ Report statutory and
287 Corporate Governance Report regulatory bodies
316 Management Discussion and Analysis Report
Reporting period
Suppliers and Local NGOs Media
Spanning from April 1st, 2023 to March contractors communities
31st, 2024, this report offers a detailed
account of our operations throughout the
year. It includes not only current year data
but also relevant historical information Contribution to the SDGs
where necessary. Information herein is Dedicated to contributing significantly to the United Nations Sustainable Development
presented on a consolidated basis for Goals (SDGs), we utilize these goals as a framework to monitor and assess both the
Coal India Ltd., except where noted, positive and negative impacts of our environmental and social initiatives. We highlight
ensuring compliance with Indian legal nine specific SDGs where our core activities and strategic objectives have had a
and regulatory frameworks. discernible impact, detailed throughout this report.
To view this report online,
please scan the above QR code Audience
This report caters primarily to our long-
term investors, shareholders, and financial
Forward-looking statements
stakeholders, detailing the progression
Some information in this report may contain forward-looking statements which include statements regarding Company’s expected financial position and results
and value creation activities pertinent to
of operations, business plans and prospects, and are generally identified by forward-looking words such as ‘believe,‘ ‘plan,‘ ‘anticipate,‘ ‘continue,‘ ‘estimate,‘
‘expect,‘ ‘may,‘ ‘will‘ or other similar words. Forward-looking statements are dependent on assumptions or basis underlying such statements. We have chosen their interests. Additionally, it provides
these assumptions or basis in good faith, and we believe that they are reasonable in all material respects. However, we caution the readers that actual results, insights beneficial to our employees,
performances or achievements could differ materially from those expressed or implied in such forward-looking statements. We undertake no obligation to
suppliers, business partners, local
update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
communities, and governmental bodies.
Meeting India’s
growing energy needs
At CIL, we play a strategic role in meeting India’s growing energy requirements,
as the economy continues to expand, with all sectors contributing to
the growth momentum.
In the absence of cost-effective and sustainable sources of fuel, coal will
continue to be the dominant source in our country’s fuel mix in the medium
term, as it offers reliability and stability of supply at affordable prices.
For over five decades, we have established a reliable track record of
operations in coal mining and hold around 48% of total proven coal reserves
of India. Moreover, we are reaching new milestones in our production
volumes every year, acting as a major catalyst in fuelling India’s growth story.
In FY2024, we produced 773.647 million tonnes (MTs) of coal, registering
10% growth over a high base of 703.204 MTs of FY 2023. This is the first
instance that CIL recorded double-digit growth in two successive years
since its inception. While all the coal producing arms of CIL have recorded
positive growth, five of them (BCCL, CCL, NCL, WCL and MCL) have stepped
over their respective annual targets for the second consecutive year.
Committed to playing a pivotal role in the nation’s socio-economic progress,
we are further ramping up our capital investments, targeting 1 billion tonne
of coal production by FY26. We are also aiming to become a net-zero
energy company by setting up 3000 MW Solar Power Projects to offset
the current fossil fuel-based power requirement.
OB to Sand
Year in Review
Corporate Overview
43,161.99
Financial
60.69 14 years
We are continuing to deliver strong
earnings, maintain low operating
costs, and generate substantial
free cash flows, reflecting our crore
resilience and efficiency. Earnings per share Years of uninterrupted Operating profit
Statutory Reports
dividend declaration
Operational
773.647 71.63
We are focused on enhancing
our operational efficiency and 23 new coal mining
growth expanding our growth prospects projects with total
through the adoption of advanced million tons MW capacity of 143 Mty
Financial Statements
technologies and the development
of new mining projects. Coal production Solar power projects
commissioned
Health and
29 0.04 0.06
We have implemented rigorous safety
protocols and continuous training
safety programs to maintain a safe working
environment, striving for zero fatalities
Fatalities Fatality rate per Mill. Te Serious Injury rate per Mill. Te
and minimal injury rates.
Environmental
2167.61 2 0 8 .76 5,186.71
We have invested in afforestation, land
reclamation, and dust suppression to
ensure sustainable mining practices.
hectares km² lakh KL
Afforestation Land reclamation in Opencast Water reused
Projects (OCPs)
Social
22.68 8.48% 251.04
We demonstrate a strong commitment
to social responsibility by investing in
training, promoting gender diversity,
and supporting local communities. crore Women in workforce crore
Spent on Environmental and Spent on Healthcare, Nutrition
Sustainability under CSR & Sanitation.
04 05
Performance Highlights
Corporate Overview
Market Capitalisation Net Sales Net Profit Margin on Net Sales Total Equity
(₹ in crore) (₹ in crore) (in percentage) (₹ in crore)
1,30,325.65
2,67,524.04
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1,27,627.47 28.67 83,581.90
24.86
1,00,562.57 61,613.62
89,373.34
82,710.32 18.69
17.28
15.36 43,816.83
1,31,666.69
36,958.44
1,12,808.74 32,551.00
86,309.01
80,331.16
2019-20 2020-21 2021-22 2022-23 2023-24 2019-20 2020-21 2021-22 2022-23 2023-24 2019-20 2020-21 2021-22 2022-23 2023-24 2019-20 2020-21 2021-22 2022-23 2023-24
Earning Per Share EBITDA Revenue from operations (Consolidated)

Debtor turnover ratio
(in ₹) (₹ in crore) (₹ in crore)
(Number of months)
1.61 1,42,323.98
60.69 51,792.96
1,38,251.91
47,722.76
51.54
1,09,715.42
1.22 96,080.34
90,026.01
26,973.89 0.88
24,715.41 0.81
28.17 0.78
27.12
20,859.86
20.61
2019-20 2020-21 2021-22 2022-23 2023-24 2019-20 2020-21 2021-22 2022-23 2023-24 2019-20 2020-21 2021-22 2022-23 2023-24 2019-20 2020-21 2021-22 2022-23 2023-24
06 07
Corporate Overview
Expenditure on Research & Development (R&D) (including
Return on Average Capital Employed Return on Average Net Worth S&T of MoC): Balance Sheet (FY 2023-24) (H in crore)
(in percentage) (in percentage) (₹ in crore)
Non Current Assets - 1,33,788.90
Current Assets - 1,03,883.36
1,03,883.36
28.21 27.30
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74.86
61.04
57.02
22.60 52.07 61.31
19.25 1,33,788.9
43.65
16.14
37.01 39.27
38.74
22.26
2019-20 2020-21 2021-22 2022-23 2023-24 2019-20 2020-21 2021-22 2022-23 2023-24 2019-20 2020-21 2021-22 2022-23 2023-24
Inventory Turnover Ratio (as no. of months) of Cost of Coal Production Production from Underground and Opencast Mines
Dividend Payout Ratio Goods Sold (Million Tonne) (Million Tonne)
(in percentage) (Ratio)
713.21 747.63
77.63 1.07 60.43 26.02
25.49
54.62
648.59 677.72
0.92
60.35
0.79 0.78
47.05 0.67
44.25
42.02
2019-20 2020-21 2021-22 2022-23 2023-24 2019-20 2020-21 2021-22 2022-23 2023-24 FY 2022-23 FY 2023-24 FY 2022-23 FY 2023-24 FY 2022-23 FY 2023-24 FY 2022-23 FY 2023-24
Coking Non-Coking Underground Opencast
08 09
Corporate Overview
Profit After Tax Profit Before Tax Safety performance
(₹ in crore) (₹ in crore) Trend of 5 Yearly Average Fatalities in CIL since 1975
196
48,812.61
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37369.13
43,274.60
150
143 145
31,722.98
23,616.28 124
24,071.32
18,009.24
82 80
17,378.42 62
16,700.34
43
12,702.17
27
*1975-79 1980-84 1985-89 1990-94 1995-99 2000-04 2005-09 2010-14 2015-19 2020-23
2019-20 2020-21 2021-22 2022-23 2023-24 2019-20 2020-21 2021-22 2022-23 2023-24
Safety performance
Greenhouse Gas Emissions (FY 2023-24) Energy Consumption (FY 2023-24) Trend of 5 Yearly Average Serious Injury Rate (Per 3 Lac Manshifts)
Scope-1 2,64,24,706 Renewable Sources - 72,789.10

Scope-2 82,41,497 Non-renewable - 1,72,01,416.33 14.24
82,41,497 72,789.10
9.75
2,64,24,706 1,72,01,416.33
3.70
2.70
2.06
1.80
0.92 0.49
Metric tonnes of CO2 equivalent 0.19 0.10
In GJ
*1975-79 1980-84 1985-89 1990-94 1995-99 2000-04 2005-09 2010-14 2015-19 2020-23
*Calender year
10 11
At a Glance
Corporate Overview
Established in 1975, Coal India
Limited was formed to manage
coal mining operations in India.
Over the decades, we have grown 100%
exponentially, becoming a key ECL
Statutory Reports
player in the energy sector. Our
legacy is built on a foundation 63.13% 64% 70%
President of India
100% Jharkhand Central MNH Shakti
of hard work, innovation, and a (through MOC, GOI) as BCCL Railway Limited Limited
relentless pursuit of excellence. on 31-03-2024
100%
CCL
100%
Mahanadi Basin
Power Limited
63.97%
100%
WCL
Chhattisgarh East
Railway Limited
71.11%
Our NEC 100%
SECL
Mahanadi Coal
organisational Railway Limited
structure 66.18%
100% Chhattisgarh East
60%
MCL West Railway Limited
MJSJ Coal Limited
100%
NCL
With 84 mining areas spread across eight states 100%

in India, we operate through our seven wholly- CMPDIL
owned coal-producing subsidiaries and one mine
planning and consultancy company. Our operations
extend beyond coal mining and include activities
100%
such as the development of coal handling plants,
CIAL 33.33% 33.33% 0.19%
railway sidings, and washeries. Our research and
HURL(JV) TFL(JV) ICVL(JV)
development arm continuously explores new
methods and technologies to improve the efficiency 36.87% 100%
of our operations. Other investors CIL Navikarniya 50.00% 50.00%
(Institutional Urja Limited
CIL NTPC Coal Lignite Urja
Coal India has a rich legacy spanning over four
and retail) Urja Pvt. Ltd. (JV) Vikas Pvt. Ltd. (JV)
decades, contributing significantly to the industrial
and economic growth of India. To emerge as a global 100%
energy major, we are committed to harnessing CIL Solar PV
the power of coal to fuel the nation’s growth and Limited
development. With a strong focus on safety, health,

and environmental standards, we strive to be a
responsible and responsive corporate entity.
12 13
At a Glance
Corporate Overview
Our vision Our mission Our values Our products
To emerge as a global player in the primary energy To produce and market the planned Our core values include equality,
quantity of coal and coal products justice, transparency and accountability. 1 2
sector committed to provide energy security to the efficiently and economically in an eco-
friendly manner with due regard to
These are practiced in all spheres of
our business activities.
Coking coal Semi-coking
coal
country by attaining environmentally & socially safety, conservation and quality.
Statutory Reports
3 4
sustainable growth through best practices from Non-coking

coal
Washed and
beneficiated coal
mine to market. 5 6
Middlings Rejects
Integrated value chain
Our value chain begins with exploration and extends through our coal mines, and distribution networks,
providing the coal essential for India’s energy security. Our success is deeply intertwined with the environment
of our operations, involving local stakeholders such as indigenous communities and neighboring populations.
Reclamation projects Energy supply

Safety management Technology advancement
We take long-term responsibility for the land we We provide a reliable supply of coal,
Coal India Limited (CIL) demonstrates its commitment For exploration activities, we adopt seismic survey use, engaging in reclamation projects to restore essential for powering thermal plants and
to a safe and sustainable mining practice, prioritizing technology, remote sensing, GIS technology, and ecosystems and promote biodiversity. ensuring energy security across India.
the well-being of employees and the environment. digital mine planning techniques.
Being a good neighbour

To ensure sustainable coexistence, we engage with Health and safety
local communities to enhance living standards and
Strengthening evacuation infrastructure We prioritise the health and safety of our workers
promote mutual growth. Renewable energy initiatives
To ensure seamless transportation of coal through with stringent safety protocols, continuous training
Coal India is investing in renewable energy projects, programs and periodical medical examination.
rail mode especially from mines having high growth
including solar installations, to diversify energy
potential, we have undertaken First Mile Connectivity.
resources used and reduce our carbon footprint.
14 15
Operational Footprint
Corporate Overview
Head count FY 23-24 PAT (J in crore) Turnover
313
(as on March 31st 2024) Coal production (MT)
Statutory Reports
Mines
Bharat Coking Coal Limited
131 168 14 33,920 41.096 1,564.46 17,600.81

Underground Opencast mines Mixed mines
mines
Central Coalfields Limited
33,990 86.054 3,661.05 23,341.82
Eastern Coalfields Limited
48,711 47.560 251.59 18,999.97

CIL NaviKarniya Urja Limited
CIL Solar PV Limited

Mahanadi Coalfields Limited
21,493 206.099 11,841.55 37,200.78
Northern Coalfields Limited

Subsidiary Madhya
Jharkhand
Coal India Africana Limitada

Pradesh
West
Bengal
13,770 136.148 8,318.13 34,424.76
Chhattisgarh
Odisha South Eastern Coalfields Limited

Maharashtra
Assam
North Eastern Coalfields
39,641 187.376 6,877.47 38,904.85
(Directly managed by CIL)
Western Coalfields Limited

Ranchi
Central Mine Planning

33,352 69.113 3,245.43 23,281.12
and Design Institute
Central Mine Planning & Design Institute Limited
Subsidiary 2,757 Engaged in 503.23 2,041.36

Mozambique Consultancy
16 17
Business Model
Corporate Overview
Inputs Value creation process Outputs Outcomes SDGs Aligned
Financial Governance Financial • Robust financial • Consistent profitability

Capital Capital foundation enabling and cash flow
continued growth generation
K 23,475.41 crore K 6,289.02 crore K 14,2323.98 crore K 18,103.10 crore
Capex Debt Revenue from Cash flow from • Strategic allocation of • Investments in expansion
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Operations operations capital for maximum and modernization
K 82,729.78 crore K 82,710.91 crore impact projects
Equity Net worth Rehabilitation/ K 37,369.13 crore K 60.69
Exploration
closure PAT EPS
Value
Social and • Support for local • Transparent and
Social and creation Relationship Capital businesses through ethical supply chain
Relationship Capital
process procurement and supply management
K 654.49 crore 1355 3.5 crore K 60,197.80 crore
Transportation chain activities • Partnerships with non-
CSR expenditure CSR initiatives Extraction People impacted Contribution to
and logistics directly or indirectly exchequer • Educational scholarships profits and government
t h ro u g h CSR and vocational training agencies for community
Effective Successfully
activities programs for local youth development
stakeholder integrated Code of
engagement policy Conduct
Sound working Leveraging

engagements with sustainable Manufactured • Focused on efficient • C o n t i n u o u s
governments at financing to Capital and high-quality mining i m p ro v e m e n t in
national, regional, contribute to the Coal processing Quality Sales and operations operational processes
and local levels UN SDGs and washing control marketing 773.647 MT 753.52 MT
Coal production Coal off-take • Advanced machinery • Implementation
and equipment for of automation and
754.07 MT 2.26 MT enhanced productivity digitization in mining
Operating environment
Manufactured Coal dispatched Total washed coal operations
Capital (Coking) production
Materiality
313 12
Mines Coal washeries
93.78% Natural • Commitment to low- • Rehabilitation and

Capacity utilisation Capital emission mining restoration of mined
solutions lands
2,02,19,196 KwH 16,580 tonnes p.a
Total solar energy CO2 • Focused efforts on • Biodiversity conservation
Natural Value generated Emission reduction water conservation and initiatives
Capital created sustainable usage
5186.71 lakh KL 44.40 lakh
82680 kWp 1816.415201 KJ
Water reused Saplings planted
Solar power capacity Fuel consumption
7.61%
5853.443 KL 1,72,74,205.44 GJ Reduction in electricity usage
Water consumption Energy consumption
Intellectual • S t ro n g industry • Digital platforms
Capital reputation and brand supporting operational
Intellectual R&D Sustainable trust efficiency
18
Capital collaborations mining practices Ongoing R&D • Innovative R&D for • Collaborative
projects advanced mining partnerships for
58 K 61.31 crore technologies technological
Coal testing R&D investment 22 advancement
laboratories Ongoing Science and Technology
(S&T) projects
Human
Community well- Financial stability Enriched human Human
Capital • Highly skilled workforce • Employee wellness and
being capital Capital specialized in mining safety initiatives
2,28,861 1,03,820 operations
Employees Employees trained 396 0.06 per million te. • Engagement programs
New recruits Serious injury rate • Continuous training and to foster employee
K 48,783 crore development programs s at i s f a c t i o n and
Employee benefit expense 6,47,533 days retention
Risks and opportunities Training man-days achieved
18 19
Operating Environment
Corporate Overview
In understanding the evolving landscape of India’s energy sector, Security bid policy
we identify and evaluate significant trends that are likely to shape
What does it mean for us?
our operations and influence our strategic decisions. What is it?
Amendments to The Coal Mines (Special Provision) These changes streamline the bidding process, reducing
Rules now allow bid security submissions via online administrative burdens and enhancing ease of doing business.
We assess trends based on their potential occur in isolation, we understand that regulatory environment. By maintaining deposits, making transaction processes smoother This efficiency supports the swift and transparent allocation
Statutory Reports
impact on the coal industry and our their convergence can result in more flexibility, we can adapt to emerging and more efficient. of coal resources, creating a more dynamic and responsive
business operations, considering the value pronounced effects. trends while leveraging our high-quality industry environment.
they create for our stakeholders and the assets, innovative approaches, and
timeline over which they may develop. Our strategy positions us to handle the talented workforce.
Recognizing that individual trends do not complexities of India’s energy demand and
India’s growing energy demand Promotion of underground coal mining
What is it? What does it mean for us? What is it? What does it mean for us?
India is a rapidly growing nation with an increasing The increasing energy demand highlights the need for efficient The Indian government aims to increase the share of coal Underground mining initiatives represent a strategic shift towards
population, leading to an accelerating demand for coal mining practices combined with sustainability initiatives. produced from underground mines to approximately 100 more sustainable and less environmentally intrusive mining
energy. Coal remains a vital energy source, accounting Coal India’s role in meeting this demand is critical, particularly MT by 2027-28. The Ministry of Coal is also auctioning practices. By increasing underground coal production, Coal India
for 55% of India’s energy needs. While the shift towards as coal demands are expected to peak around 2030 before underground mines to the private sector to boost can enhance operational efficiency and reduce surface mining
renewable energy sources has begun, coal consumption gradually declining in favor of renewables. This scenario production, targeting at least 10% of total coal production impacts, aligning with global sustainability trends.
from primary sources has surged by 700% over the last 40 emphasizes the importance of optimizing our operations from underground mines by 2030.
years and is expected to continue growing in response and investing in technologies that enhance productivity and
to rising demands. environmental stewardship.
Regulatory Policies and Auction Systems International collaborations

What are they? What does it mean for us? What are they? What does it mean for us?
The Ministry of Coal has mandated Coal India Limited to These regulatory measures and auction systems are designed to India is seeking collaborations with international partners, These international collaborations provide access to cutting-
conduct auctions for coal linkages, ensuring transparent promote transparency, fairness, and efficiency in the coal industry. such as the European Union and Japan, to develop edge technologies and best practices, facilitating improvements
and fair processes. The completion of the 6th Tranche They help secure stable supplies for various industries and new technologies and improve operational efficiency. in mining efficiency and sustainability. Partnerships with
of auctions in November 2023, covering 155.42 contribute to the optimization of resource usage. Amendments Recent discussions have focused on repurposing technologically advanced nations can drive innovation, reduce
MT, underscores the significance of these auctions to policies like the New Coal Distribution Policy further support abandoned mines and leveraging advanced technological costs, and enhance Coal India’s ability to meet future energy
in industry dynamics. Additionally, the approval of transparent transactions of coal from closed or discontinued infrastructure from developed nations. demands responsibly.
e-auction mechanisms aims to streamline and enhance mines, ensuring resource optimization and economic viability.
operational efficiency.
Optimal resource usage and land acquisition Enhanced role of private sector and MDOs
What is it? What does it mean for us? What is it? What does it mean for us?
The Ministry of Coal has amended policies to promote These initiatives enable the efficient utilization of available With the government allowing greater participation of MDOs have introduced new technologies and management
the optimal usage of resources, allowing transactions resources and facilitate the expansion of coal mining operations. the private sector in coal mining, it has ensured a steady practices and are typically more agile and adaptable to changing
of coal from closed or abandoned mines. Furthermore, Acquiring additional land ensures that Coal India can continue supply of coal to meet the nation’s energy needs. It has market dynamics. The involvement of the private sector and the
approximately 10,000 acres of land have been to meet the nation’s coal demands, while also supporting other also offered opportunities to source coal in an economic use of MDOs are anticipated to attract more investments to the
acquired under the Coal Bearing Areas (Acquisition infrastructural developments that benefit the broader economy. and responsible manner. The Government of India has also sector, introduce new technologies, and efficient management
and Development) Act for future coal mining and other encouraged the use of Mine Developer Operators (MDOs) practices to improve overall efficiency and productivity.
economic activities. in the coal industry to improve efficiency and productivity.
20 21
Risk Management
Corporate Overview
We operate in an environment of diverse and complex risks, necessitating Risk management team Risk Management Structure Review of risks
the implementation of a robust risk management framework. This The Enterprise Risk Management (ERM)
Board of
Risk assessment, identification and
governance structure at the top level has a mitigation measures are thoroughly
framework ensures comprehensive risk management practices are Board level ‘Risk Management Committee’ Directors
Chief Risk discussed during the bi-annual Risk
applied consistently across all business activities and decisions. By headed by an Independent Director of 1
Officers (CROs) Management Committee meetings. We
the Board. The Chief Risk Officer(CRO) consistently review the effectiveness of
efficiently handling and mitigating potential risks, we aim to minimise supported by a competent team of Risk 2
our Risk Management Framework as an
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threats and maximise opportunities, thereby enhancing the value of the Owners and Risk Mitigation Plan Owners integral part of our strategic planning
business and its growth potential. from different departments, works under process. By adhering to a comprehensive
the guidance of Risk Management risk management framework, we aim
Committee(RMC). The Subsidiary to proactively address potential risks,
companies maintain a similar governance safeguard our operations, and ensure
Risk management approach Risk management
structure of ERM with an independent Risk sustainable growth.
process
Risk management is pivotal to Management Committee and a Chief risk
achieving our business objectives. Officer of the rank of General Manager.
Our approach focuses on proactively The RMC provides strategic direction
Identification
addressing uncertainties to minimise and evaluates the effectiveness of Risk
threats and optimise opportunities.
Action of Risk Management framework.
4
We have developed an Enterprise
Risk Management (ERM) Framework
Plan CIL has taken significant steps to foster
Functional 3
that includes an Integrated Combined a strong risk management culture. The
HODs/
Assurance Model, and a Risk Appetite Board has approved a risk management Risk
Analysis Executives in
and Tolerance Framework. charter and risk register to effectively Management
Charge
of Risk address risks and align it with our internal Committees
To facilitate a structured and disciplined goals and objectives. The identification of
approach to risk management across the Risks that Matters (RTM) has been carried
organisation, we adhere to a detailed Risk out and continuous monitoring and
Management Calendar ensuring regular Evaluation mitigation efforts are ensured through the
monitoring and assessment of risks. of Risk Risk Owners and Mitigation Plan Owners.
Stacking Yard
22 23
Risk Management
Corporate Overview
Statutory Reports
First woman underground mining engineer of Coal India Ltd. Mock Drill
Virtual Reality (VR) training for safety and emergency rescue
Safety Training for workers and miners
24 25
Risk Management
Corporate Overview
Risk identification and mitigation
Competition Risks
Under the leadership of the Chief Risk Officer (CRO) and with the involvement of the Heads of Departments (HoDs), The Risk
Management team has implemented the governance processes outlined in the Risk Management Framework. This includes identification
& prioritisation of Risks, formulating Risk Mitigation plans for the prioritized risks and addressing the Risks That Matter (RTM). Why do they matter ? How are we mitigating them ? Capital
We strive to manage competition by adopting the following measures : linkage
Risk identification and Development of risk mitigation Addressing Risks That Matter
Commercial mining and emphasis on
prioritisation plans (RTM) • We closely monitor coal • Also certain sectors like steel
renewable power generation pose
Statutory Reports
Continuously identifying and Creating and implementing plans to Focusing on critical risks that a threat to our market share in the demand. By FY 24-25, coal manufacturing will continue to
prioritising risks that could impact mitigate prioritised risks. have significant implications for energy sector. Competition from demand is estimated to reach demonstrate consistent demand
our operations and objectives. our business, ensuring they are commercial mining and renewables 870 million tonnes, including for coal. Additionally the
managed effectively. can also lead to pricing pressure. supply through e-auction. In demand for coal as a feedstock
order to meet this demand, for synthetic fuel production
we set our production such as petrochemicals,
Risks of Unviable Mining gasification and methanol is
target at 838 million tonnes,
aligning it closely with the expected to gain momentum
Why do they matter ? How are we mitigating them ? Capital projected demand figures. in the near future
To tackle and mitigate the risks, We have undertaken following steps : linkage
The viability of underground mining • Based on our Fuel Supply
operations is crucial for financial • We identify unviable coal • We prioritize revival of Agreements (FSAs), we would
stability, operational efficiency mines on the basis of cost- unviable mines through remain the primary supplier
and environmental sustainability. benefit analysis, balance loss reduction measures of coal to thermal power
Unviable operations can lead to mineable reserves and by implementing new plants in the near future.
significant financial losses, hinder technical assessments technology, re-orienting
long- term growth, compromise safety including safety, Geo- mining method and
standards and result in wastage of mining conditions and enhancing safety standards.
valuable resources. environmental concerns. Over the years, Steps
have also been taken
to suspend production
from unviable mines
Credit Risks
Cyber Security Risks: Why do they matter ? How are we mitigating them ? Capital
We prioritise addressing credit risks in order to maintain the cash flow linkage
The credit risks of receivables from and the overall financial health of the organisation. We undertook the
Why do they matter ? How Are We Mitigating Them? Capital
Public Sector Undertakings (PSUs) following measures to mitigate these risks :
linkage
• Cloud Security: of digital personal data within directly impact the financial health
Financial Loss: Cyberattacks can steal
the territory of India collected and liquidity of the organisation. • Through our online • General Manager (Sales)
money directly, disrupt operations ERP Cloud: The above
causing revenue loss, or hold data online or collected offline Disputed and undisputed receivables reconciliation portal, our of the coal companies
environment is compliant with
hostage with ransomware. and later digitized. It is also from PSUs can pose challenges in subsidiaries conduct oversees coordination with
ISO 27001 ISMS(Information
applicable to processing terms of delayed payments, potential invoice-wise reconciliation the Competition Commission
Reputational Damage: Data breaches Security Management System)
digital personal data outside write-offs and cash flow constraints. on a daily basis. We engage of India (CCI), legal
can erode trust in our company, with a Dedicated Security
the territory of India, if it in regular correspondence matters and ADRM issues.
leading to damaged customer Operations Center(SoC) which
involves providing goods or with coal companies and
relationships and brand image. manages all aspects of Cyber • Provision of Cash and Carry is
services to the data principals
Security and Data. consumers to expedite
within the territory of India. already included in our Fuel
Privacy Violations: Stolen personal • CIL HQ Cloud: ISMS Based on the collection of dues and
information can be used for identity • CIL is in process of Supply Agreements.
ISO 27001 is being finalised. resolve disputes. In cases
theft, fraud, or even blackmail. developing a strong data
• Data Privacy and Security where commercial disputes • The Audit Committee of
privacy and protection
cannot be resolved bilaterally, CIL and our subsidiary coal
Our increasing reliance on technology DPDP Act 2023: The Digital implementation program in
we refer them to the companies along with the
makes us more vulnerable to Personal Data Protection (Act, view of the DPDP Act, 2023
Administrative Mechanism for Finance Director regularly
these attacks, and the potential 2023 applies to the processing
Resolution of CPSE disputes. review the status of debts.
consequences can be severe.
Financial Manufactured Intellectual Human Social and Natural Financial Manufactured Intellectual Human Social and Natural
Capital Capital Capital Capital Relationship Capital Capital Capital Capital Capital Capital Relationship Capital Capital
26 27
Risk Management
Corporate Overview
Operational Safety Risks Evacuation Risks
Why do they matter ? How are we mitigating them ? Capital Why do they matter ? How are we mitigating them ? Capital
To ensure operational safety and create a safe working environment, linkage To address evacuation risks for coal off-take, we have undertaken linkage
Operational safety risks may have a we have implemented the following: Efficient evacuation of coal is crucial strategic projects to enhance evacuation capacities in the medium to
potential impact on the well-being of for the smooth off-take of coal long-term. This includes :
Statutory Reports
• To enhance operational • The SMPs have been diligently
workers and the overall operational production. Limitations or bottlenecks
safety and compliance with prepared in accordance • Implementation of 75 First of Conveyor belt/MGR by
efficiency. Failure to comply with in the evacuation infrastructure can
statutory requirements, with the guidelines set by Mile Connectivity (FMC) CEA/MOP. Out of 51 plants,
safety regulations and implementation result in delays, congestion and
we have formulated Safety the Directorate General of projects of 837.5 MTPA in 4 18 plants are already having
of safety measures may lead to increased cost of moving coal.
Management Plans (SMP) Mines Safety (DGMS) and are phases. Thereby, 2029-30, Belt / MGR system. Upon
unsustainable and irresponsible
for each mine. These plans reviewed on regular basis for CIL shall be having Rapid completion, about 111
functioning of the mining industry.
clearly outline the roles and continual improvement. Loading Capacity of: 988.5 MT additional coal can be
responsibilities of officials MTY, therefore, 88% of the transported through this
• Specialised training has been
involved in mining operations total evacuation can be done mode, reducing Road and
imparted on Root cause
ensuring accountability and through mechanized way. de-congesting rail network.
Analysis of Mine Accidents.
adherence to regulations.
• Installation of captive mode • 37 New lines/ capacity
(Belt/MGR) for the Power enhancement for coal traffic
Plants located near mines. movement were identified
51 plants (within 100 km) by MOC/MOR to augment
identified for construction dispatch through Rail mode.
Technology Risks
Why do they matter ? How are we mitigating them ? Capital

The following measures help upgrade technology, make equipment linkage
Upgrading technology and ensuring available on time and ensure its efficient utilisation for mining operations.
optimal utilization of Heavy earth Technology upgradation: Availability and utilization of HEMM :
moving machinery (HEMM) can help
• Revision of equipment • Procurement of high-
us remain competitive, maximize specifications to incorporate capacity HEMM with
resource extraction and meet latest technologies such guaranteed availability of
market demands. Failure to address as electrical drive, fuel- spares and consumables.
these risks could result in reduced efficient engines, and
• Regular review and early
operational efficiency increased cost health/productivity
re c o m m i s s i o n i n g of
and lower profitability. monitoring systems.
long breakdown HEMM.
• Implementation of uniform
• Premature survey of obsolete
technical specifications
and irreparable equipment.
for decentralised
HEMM p ro c u re m e n t • Monitoring and follow-up
across subsidiaries. for survey of/grounding
of equipment that has
• Discontinuation of 10 Cu.M
completed its lifecycle.
electrical rope shovels and
procuring higher capacity • Performance monitoring
electric rope shovels for of dumpers through
better productivity. Pa y l o a d Monitoring
System data analysis.
• Engagement of continuous
miners and surface miners
to improve productivity.
• Digitization initiatives
in open-cast mines for
Rakes loaded with coal
enhanced productivity.
Financial Manufactured Intellectual Human Social and Natural Financial Manufactured Intellectual Human Social and Natural
Capital Capital Capital Capital Relationship Capital Capital Capital Capital Capital Capital Relationship Capital Capital
28 29
Material Matters
Corporate Overview
Recognizing and addressing topics that are significant to both our stakeholders Top Priorities Hidden Value Creators
and our business is crucial for our sustained growth. Our materiality assessment 6 Air emission 2 Financial performance and growth
helps to identify and prioritize these issues, involving internal stakeholders 15 Community engagement Employee development and well-being/
12
from various departments to ensure a comprehensive understanding of training and education
7 Biodiversity and land management
different perspectives. 23 Energy management
Statutory Reports
26 Grievance redressal management system
9 Mechanization of mines
19 Mine closure
29 Anti Corruption and Anti Bribery
This inclusive approach enables us to the impact of these topics on our processes. By prioritizing issues based 14 Labour conditions/human rights assessment
align our sustainability initiatives with operations and value creation guides our on their importance and impact, we align
30 Market presence
4 Waste management
stakeholder expectations, fostering strategic planning. our strategies, action plans, and objectives 31 Macro economic fluctuation
transparency, building trust, and ensuring with the most pressing matters. This 11 Employee inclusion and diversity
that our business operations remain Engaging with a diverse range of proactive engagement helps us mitigate
accountable and responsive to the needs stakeholders provides valuable insights risks, seize opportunities, and enhance
1 Water management Hygiene Factors
of our stakeholders. Understanding that influences our decision-making our overall impact. Socio-economics compliance
16 5 Ghg emissions/climate change
25 Business continuity/long-term 10 Reducing environmental impacts during

business sustainability transportation and dispatch
Materiality matrix 22 Business risk management 17 Land acquisition and rehabilitation
20 Regulatory compliance/anti-corruption 18 Upholding rights of indigenous people

High
21 Business ethics and corporate governance 24 Disaster management

Hygiene Factors: Company 6 27 Top Priorities: An effective and
needs to balance responding to externally visible management 27 ERP, digitization & Cyber security 26 Effective Supply chain engagement
stakeholder concerns without 15 response to these issues is vital
incurring substantial cost 5 for long-term business success 8 Environmental and regulatory compliance
7
19
Monitoring Issues
26
16
3 Renewable energy and clean energy
14 13 Occupational health & safety

Potential impact on CIL’s business
17 11 4 28 Public health
26
1 10
18
24
25 22 20
21 8
13 30
28 23 29
31
12
2
Monitoring Issues: Best practice Hidden Value Creators: Company should

suggests that Company should monitor consider education and awareness raising
these issues as they may become more with stakeholders to educate them about the
9
Low
impactful over time relevance to Company’s business
Low Importance to external stakeholders High
Mobile crusher
30 31
Stakeholder Engagement
Corporate Overview
At Coal India, we prioritize fostering collaborative
stakeholder engagement. Our integrated and
inclusive approach ensures we consider the needs,
interests, and expectations of all our stakeholders,
aligning them with our strategic goals. By collectively
Statutory Reports
working to create better jobs, enhance education, and
support thriving businesses, we ensure the well-being
of our employees, their families, local communities
and customers.
Consumers meet during Vigilance awareness week
Creating stakeholder value Through providing insights into potential
risks, opportunities, and material sustainability
Our stakeholder engagements are
issues, we can more effectively manage these
designed to help us navigate the complex
factors to create lasting value. This proactive
political, regulatory, and legislative
approach helps us deliver on our strategic
landscapes in which we operate. This
objectives and achieve long-term growth. Our
engagement is vital throughout our
coal is essential in powering industries and
entire business cycle, from exploration
homes, meeting the growing demands of a
to mine closure, as it directly impacts
developing world, and supporting economic
our ability to execute our strategy and
development of diverse stakeholders.
generate sustained value.
Stakeholder engagement process
Stakeholder
Identification
01
Addressing
Expectations
and 05 Defining our
Concerns Impact on
Stakeholder 02 Stakeholders and
Engagement Stakeholder’s
Influence on us
Strategy
04
03
Stakeholder
Categorisation
and Prioritisation
Stakeholder
Consultation
Distribution of sports mats to National Level players
32 33
Stakeholder Engagement
Corporate Overview
? Why we engage ? How we engage ? How often we engage ? Capital linkage
• Hold the Company accountable for • Financial performance • Regular meetings and interaction Continuous Financial Capital
Shareholders performance and compliance to • Business strategy
process
Statutory Reports
corporate governance structure • Operational performance Manufactured Capital
• Influence decision-making processes • ESG initiatives Social and Relationship Capital
• Strengthen brand loyalty and build • Customer satisfaction (including quality • National Carbon Capture Centre meeting Need based and Financial Capital
Customers mutually beneficial relationships of coal and delivery time) with customers
annually Manufactured Capital
• Source of revenue • Grievance redressal • Regional Coal Consumers Council meeting
with customers Social and Relationship Capital
• Meetings between customers and the
marketing team
• Online filing and redressal of complaints
• Source of productivity • Learning and development • Corporate-level industrial relation meetings Continuous and Intellectual Capital
Employees • Job satisfaction • Health and wellness with union leaders
annual Human Capital
• Wages and welfare • Trainings and seminars
• Safety Fortnight
• Vigilance Awareness Week
Government/ • Enable adherence to • Regulatory requirements • Performance reports Need based, Manufactured Capital
statutory and rules and regulations • Compliance with national • Board Meetings
quarterly and
regulatory bodies • Provide funding and support and local regulations • Compliance Report Social and Relationship Capital
• Inspections
annual
Natural Capital
Suppliers and • Provide raw materials (explosives and • Improve efficiency and productivity • Interactive meetings and sessions during Quarterly and need Financial Capital
contractors machinery) and services • Notice for inviting tenders tender approval process
based
• Vendors meet Manufactured Capital
Local communities • Provide access to land and resources • Livelihood options and • Sustainable development initiatives Need based and Social and Relationship Capital
• Help/ create a strong workforce job opportunities • CSR Activities
continuous Natural Capital
• Provide the social licence to operate • Rehabilitation and resettlement (R&R)/ • Project meetings
Environmental clearance • Public hearing as a part of statutory
• Forest land clearance compliance
• Help improve social and • Minimise the impact of mining activities • Direct engagement and discussions Need based Financial Capital
NGOs environmental performance on local communities through public forums
• Allow the Company to strengthen • Value creation through CSR activities Social and Relationship Capital
relationships with local communities
• Help communicate with stakeholders • Press releases and interviews Need based Social and Relationship Capital
Media • Builds brand value and reputation
• Expectation to fulfil performance criteria,
social and environmental obligations
Knowledge • Provide access to new technologies • Help improve safety and • Trainings Continuous process Intellectual Capital
partners and industry expertise environmental performance
• Research and development Human Capital
34 35
Governance
Corporate Overview
At Coal India, we understand that our reputation as a responsible Commitment to anti-corruption Vigilance mechanism Strengthening internal controls
corporate entity is built on the trust we foster with our stakeholders. Coal India is committed to a zero- Our Vigilance Division, headquartered in Our Audit Committee is responsible for
tolerance approach to corruption. We Kolkata, is led by a Chief Vigilance Officer reviewing and reporting on internal control
To maintain and enhance this trust, we are committed to conducting have established detailed guidelines (CVO) and supported by a dedicated team policies and systems to the Board. These
business with integrity, transparency, and accountability throughout and Standard Operating Procedures of vigilance officers. Each of our eight reviews ensure that our internal financial
(SOPs) to support our anti-corruption subsidiaries also has its own Vigilance Unit, controls are effective and that our risk
the entire lifecycle of our mining operations and beyond. efforts. Our Complaint Handling Policy headed by a full-time CVO. The corporate management framework is robust and
Statutory Reports
and Whistleblower Policy provide CVO coordinates with subsidiary units, up-to-date. The Audit Committee also
clear channels for reporting unethical the Central Bureau of Investigation (CBI), oversees our disclosure controls and
Leadership oversight Comprehensive governance applicable laws and regulations. These
or unlawful behavior, ensuring that all the Ministry of Coal, and the Central processes, ensuring accurate and timely
The Board of Directors plays a crucial
policies policies are designed to promote high
complaints are addressed promptly and Vigilance Commission (CVC) to ensure reporting of financial information.
standards of professional and ethical
role in overseeing management Our governance framework covers a fairly. The policies protect whistleblowers effective handling of complaints and
behavior among our employees,
and guiding the strategic direction broad spectrum of areas, including from retaliation, fostering an environment systemic improvements. Misconduct
contractors, and suppliers. Regular
ISO 37001:2016
and business affairs of the company. ethics, risk management, and compliance. where concerns can be raised without fear. with a vigilance angle is thoroughly
reviews and updates ensure that our
Supported by specialized committees, We have implemented comprehensive investigated, and disciplinary actions are
policies remain aligned with international To enhance preventive vigilance and
the Board ensures that robust governance policies addressing ethical conduct, taken based on the findings. Certified for Anti-Bribery
standards and best practices.
mechanisms are in place to monitor conflict of interest, anti-corruption, and anti-corruption awareness, we implement
Management System in CMPDIL
company developments effectively. We whistleblowing, ensuring adherence to extensive training and sensitization To raise awareness and promote a
value diversity at all levels, believing that programs. This includes nominating culture of integrity, we observe Vigilance
varied perspectives contribute to better officials for specialized anti-corruption Awareness Week annually. The theme for Ensuring tax compliance
decision-making and governance. training delivered by reputable institutions the 2023 event was ‘Say No to Corruption;
We adhere to the tax laws in all
like the CBI, CVC, NFSU, and NPC. New Commit to the Nation,’ emphasizing our
jurisdictions where we operate, ensuring
executives receive induction training commitment to ethical conduct within the
compliance with both direct and indirect
in preventive vigilance upon joining, organization and the wider community.
6
tax regulations, including income tax, VAT,
and ongoing sessions are provided for
and customs duties. We are committed
non-executive and contractual staff.
to fulfilling our tax obligations and
Functional Directors Additionally, we host marathon trainings,
contributing to the economic development
135
seminars, workshops, and interactive
of the regions in which we operate.
sessions on relevant topics
2 Corruption
resolved
complaints
Embedding integrity in
Non-Executive Directors stakeholder relations
(Government Nominees) Empowering whistleblowers In cases of detected corruption, we initiate
We regularly engage with our stakeholders
Our Whistleblower Policy is designed disciplinary actions in accordance with
through meetings, consumer interactions,
to encourage individuals to report any our CDA Rules. Instances of criminal
7
and grievance redressal camps. Public
unethical or unlawful behavior. This policy misconduct are reported to the relevant
participation in anti-corruption awareness
ensures that all complaints are handled authorities, including the CBI, following
programs is encouraged through various
with confidentiality and that those who CVC guidelines. We ensure that all
Independent Directors activities such as Gram Sabhas, workshops,
report in good faith are safeguarded necessary approvals and sanctions
seminars, and educational competitions.
against reprisals. By promoting are obtained, and appropriate actions
We also leverage social media and other
transparency and accountability, we aim are taken to address and resolve any
95.83%
communication platforms to spread
to investigate and resolve all reported issues of corruption.
awareness about our anti-corruption
issues effectively and implement corrective
initiatives. Our vendors, service providers,
Board meeting actions where necessary.
contractors, and consultants are integral
attendance
09
to our anti-corruption efforts, bound by
CMD, CIL being welcomed by the Board members contractual obligations and the Integrity
Pact Program in line with CVC guidelines.
Instances of action taken
against corruption
36 37
Corporate Overview Statutory Reports Financial Statements
39
Core Team
38
Board of Directors
Corporate Overview
Manager of Lingaraj area in Mahanadi his tenure, he led the commencement of Government Nominee Directors
Coalfields Limited (MCL). In 1994-95, coal mining operations at Pakribarwadih
he was instrumental in reopening of mines, Hazaribagh. During his term in officer belonging to 1993 batch. He Department of Economic Affairs as
DRC mines, which were affected by the 2016, Pakribarwadih was bestowed with did post-graduation from the University Director in Japan/North America and
underground fire during his posting in the first prize in ‘Swarn Shakti Awards’.
Statutory Reports
of Hyderabad. Over the course of the in the World Bank Divisions. Thereafter,
WCL. For this remarkable job, he was In February 2018, he joined Northern service, he served at state, national he worked as Advisor to the Executive
awarded as ‘Best Mines Manager’ from Coalfields Limited (NCL) as Director and international level in the areas of Director at the World Bank in Washington
Secretary Coal, Ministry of Coal (MoC) Technical (P&P). Under his leadership, NCL public order, revenue & development DC from 2008 to 2012. He was a visiting
and Chairman-cum-Managing Director, was awarded at the World Environmental administration, tribal development, fellow at the University of Pennsylvania,
Coal India Limited in 1995. During his Conference in June 2018 for outstanding finance, international economic relations, USA for one year in 2012-13 and Visiting
Shri PM Prasad [DIN: 08073913] successful stint as General manager at work in environmental conservation. He Industries and commerce, healthcare and Research Scholar at the Stonehill College
has assumed the charge of Chairman MCL, he was responsible for successful took over the charge of CMD, Bharat State finances. In the State Government, in 2018-19. He joined as Joint Secretary,
-cum- Managing Director of Coal India opening and operations of ‘Kaniha Open Coking Coal Limited (BCCL) in August Shri N a g a ra j u M a d d i ra l a he served as District Magistrate, Director, Ministry of Coal on 30.01.2020 and
Limited on 1st July, 2023. Prior to this, he cast Project’ from March, 2010. He is also 2019. Amid the challenging conditions, [DIN: 06852727] Additional Secretary, Tribal Welfare, Secretary /Principal after promotion as Additional Secretary,
was holding charge of Chairman-cum- credited for diversion of nallah at Hingula he led from the front with commitment, MoC, has assumed the charge of part- Secretary of Health, Women and Child Ministry of Coal from 03.11.2020. He does
Managing Director (CMD) of Central Opencast Area to unlock coal reserve vigour, and dedication. He spearheaded time Director (Govt. Nominee) on the Development, Finance and Industries & not hold any shares of Coal India Limited.
Coalfields Limited (CCL) from 01/09/2020. of 26.00 MT in the year 2014-15 and the Company’s fight against the pandemic Board of Coal India Limited (CIL) w.e.f. Commerce departments. During 2004-
Shri Prasad has 39 years of experience commencement of New Railway Siding and was instrumental in various initiatives 22nd February, 2023. He is an IAS 08, he served in the Ministry of Finance,
in the varied facets of operations and No. 9 at Talcher Coalfields. He has a special to transform the overall performance of
management. Shri Prasad is a mining penchant for safety and the projects with the Company. Shri Prasad is renowned
engineer from Osmania University. which he was associated have won various for his interpersonal skills and is a firm
He did M. Tech. in ‘Open-Cast Mining’ prizes at different competitions including believer in teamwork and possesses
from Indian School of Mines (IIT- ISM), hat-trick for two projects i.e., Padmapur excellent technical expertise. Under his
Opencast, WCL between 1996 and 1998 guidance, the Company is poised to attain from TERI University, Delhi. Ms. Kotru such as Sahitya Academy, National School
Dhanbad. In 1988, he acquired first class
and Nandira UG Mine, MCL between 2004 new milestones and scale further heights has served in Income Tax Department of Drama, Indira Gandhi National Centre
mines manager certificate from DGMS.
and 2006. In May, 2015, he joined NTPC as of success. He does not hold any shares at Mumbai, Chennai, Delhi and Pune in for the Arts, Sangeet Natak Akademi and
He also obtained degree in law from
Executive Director (Coal mining). He was of Coal India Ltd. various assignments and was involved Lalit Kala Academy as well as renowned
Nagpur University in 1997. Shri Prasad
acknowledged for expediting the process in setting up of International Taxation museums such as National Museum,
began his career as an executive trainee
of award of MDO projects and awarded Directorate of the Income Tax Deptt. As Delhi, Victoria Memorial Museum and
with Western Coalfields Limited (WCL),
Pakribarwadih coal block (NTPC’s first Director (E-Governance) in the Ministry of Indian Museum, Kolkata, among others.
a subsidiary of Coal India Limited (CIL)
project) and floated NITs for remaining Corporate Affairs, she administered the She brings with her varied experience
in1984. He exhibited dedication, hard
coal blocks. In March 2016, he took charge award-winning MCA21 corporate filing in different fields of administration as
work, sincerity and dynamic leadership
as Executive Director-cum-Head of the system. She was also instrumental in well as taxation. She is also a Director
as he progressed through different roles
Project, Hazaribagh, Jharkhand. During Smt. Nirupama Kotru [DIN: 09204338] setting up the Indian Institute of Corporate in Hindustan Zinc Limited and Bharat
in the Company and became General
Joint Secretary & Financial Advisor, Affairs at Manesar. As Director (Films) in Aluminium Company Limited. She does
MOC, is an officer of the Indian Revenue the Ministry of Information & Broadcasting, not hold any shares in Coal India Limited.
Service (Income Tax) of the 1992 batch. she looked after the administration of
Born on 28 January, 1969, Nirupama media units such as NFDC, Films Division,
Kotru has done her BA in Economics National Film Archive and Directorate
(Hons.) from St. Stephen’s College, of Film Festivals, and all policy matters
Delhi University, and MA in Politics & relating to films. Until recently she was
International Relations from School of posted as Joint Secretary in the Ministry
International Studies, Jawaharlal Nehru of Culture, Government of India, where
University, Delhi. She has also done MA in she looked after prestigious academies
Public Policy & Sustainable Development
40 41
Board of Directors
Corporate Overview
Functional Directors
Employee Relations, HRIS, Employee negotiation skills. He became INSEAD Graduate in Production Engineering from Diversification through ventures into the
Productivity and Learning & Development. alumni pursuant to successful completion REC Rourkela and also has to his credit a critical minerals value chain via international
He has also successfully extended HR of course at glittering graduation Masters in International Business from IIFT, and domestic initiatives, and Conglomerate
support to overseas business entities. ceremony held at Fontainebleau campus, New Delhi. Shri Nanda joined Indian Oil Diversification through Renewable Energy
He was a part of two full life cycle SAP HR France on 29th July 2016. Corporation in 1988 as a Management Projects. He is also the non-executive
Statutory Reports
Trainee in the Marketing Division. He did Chairman of two major Joint Ventures of
implementation. He lead the team for full
He is a HR thought leader with a passion a stint in Business Development activities CIL, i.e. HURL (operational projects) and
life cycle SAP HR implementation at TATA
for driving organizational excellence comprising of expansion of lube business BCGCL (tendering & implementation
Communication (Erstwhile VSNL), where overseas, exports of POL, setting-up of stage). He is also responsible for managing
he led the 8 member team consisting from through people-centric approaches. Shri.
Indian Oil’s subsidiaries etc. before moving acquisitions of stressed assets and strategic
VSNL HR and TCS for the implementation Ranjan is also a sought-after speaker,
to Indian Oil’s Gas Business in 2009. Shri stakes, overseeing CIL’s international
Shri Vinay Ranjan of entire SAP HCM module. He was also who captivates his audience with Shri Debasish Nanda Nanda headed the ‘Natural Gas’ business ventures, including securing mineral assets
[DIN: 03636743] took over the charge as part of the Tata Teleservices (TTSL) SAP thought-provoking discussions on talent [DIN: 09015566] has taken over as of Indian Oil which had a turnover of over and collaborating with global companies,
Director (Personnel & Industrial Relations), HR implementation team on deputation management, organizational culture, and Director – Business Development of Coal Rs. 20,000 crore.Currently at CIL, Shri Nanda enhancing the profitability of CIL and
Coal India Limited on 28th July, 2021. Shri from VSNL. He is impactful leader with the future of work. Through engaging India Ltd w.e.f 11th July, 2022. Prior to this, is responsible for leading the diversification unlocking the untapped potential of CIL’s
keynotes and interactive workshops, he he was working as Executive Director (Gas) portfolio at CIL, including Forward existing subsidiaries through listing in
Ranjan is a performance-focused people- the ability to develop and lead efficient
empowers leaders and HR professionals in Indian Oil Corporation. A graduate in Integration such as Thermal Power Projects domestic markets. He does not hold any
oriented professional with extensive years and highly productive workforce. He has
to navigate the complexities of the Mechanical Engineering from UCE Burla, and Coal-to-Chemicals Projects, Concentric shares of Coal India Ltd.
of experience in entire gamut of HR, which excellent stakeholder’s management
modern workplace. He does not hold Sambalpur University, Shri Nanda is a Post
includes large scale Lateral/ Campus skills and has been working directly
hiring, Talent Management, Performance with promoters for last six years. He is any shares of Coal India Limited.
behemoth on and from 23rd December, (Coal Production and Despatch) in the
Management, Employer Branding, recognized for integrity and commitment
2022 (A/N). Prior to taking up the reins of Ministry of Coal where his functions included
Compensation Management and with high level of service delivery &
the CIL marketing division’s top slot, he was monitoring coal supplies, transport logistics
Bench-marking, Change Management, execution. He also possesses strong Deputy Director General, Department of and marketing policies. He also served on
Cultural Building, Employee Engagement, interpersonal, communication and Defence Production, Ministry of Defence. An the boards of several government-owned
Officer of Indian Ordnance Factory Services coal companies like MCL, SECL, NCL,
(IOFS) 1996 batch, Mr. Choudhary is a WCL, CMPDIL, NTPL and SCCL. At a time
Mechanical Engineering (Honours) graduate when CIL’s coal supplies have peaked to
from Engineering College Kota. He also record high levels, especially to the major
holds a Master of Financial Analysis (MFA) coal-consuming power sector, and coal
Director (Technical) Operations of Eastern 33 years of experience in coal mining, degree and a MBA degree. Importantly for demand is expected to shoot up, spurred
Coalfields Limited from 01.01.2020 planning, procurement and operations. Shri M u ke s h Choudhary CIL, Mr. Choudhary is well versed in the finer by the increased electricity generation in
till 31.01.2022. He did his B. Tech. in He worked in different capacities in the [DIN: 07532479] took over as Director nuances of country’s coal demand supply the country, Mr. Choudhary’s experience
(Marketing), Coal India Limited (CIL), chain and CIL’s marketing system on the back will help in tackling the challenging issues.
Mining from Kothagudem School of Mechanised Underground and Opencast
the state-owned Maharatna coal mining of his six and a half year exposure as Director He holds 1200 shares of Coal India Limited.
Mines, Osmania University in the year mines and in Corporate Project Planning
1986 and obtained First Class Managers department of SCCL. Prior to his joining as
Competency Certificate by DGMS in Director (Technical) Operations of Eastern
the year 1990. He has also completed Coalfields Limited he worked as General He served as Executive Director in NLC Accounts, Treasury, Taxation, Costing,
Master of Technology in Mine Planning Manager of Adriyala Longwall Project India Limited, a Navratna Company, prior Budgeting, Inventory Management, Debtors
to joining Coal India Limited as Director & Fund Management, Digitization, Policy
from Kothagudem School of Mines, Area of the Singareni Collieries Company
(Finance). With an impressive track record Formulation, System Improvement, IFC,
D r. B. Ve e r a Reddy Osmania University in the year 2000. Limited. He does not hold any shares of
spanning over three decades both in private etc. Notably, he has held the prestigious
[DIN: 08679590] has assumed the He completed his doctorate from IIT- Coal India Limited. and public sector such as ITI Limited, IRCON position of Chief Financial Officer (CFO)
charge of Director (Technical), CIL w.e.f ISM, Dhanbad. Shri Reddy joined SCCL International Ltd, NLC India Limited etc, this at NUPPL, a prominent subsidiary of NLC
1st February, 2022. Prior to this he was in the year 1987 and has more than seasoned professional boasts extensive post India Limited. He has made remarkable
qualification experience in the dynamic contribution in the areas of lignite, power
landscape of the infrastructure sector. His pricing and Regulatory affairs. His wealth
expertise encompasses a diverse range of knowledge and leadership in financial
Shri Mukesh Agrawal, [DIN:10199741] of industries, including rubber, spinning, matters has significantly contributed to the
took over as Director (Finance), Coal India telecommunication, construction, power, success of organizations in the ever-evolving
Limited (CIL) w.e.f 8th Feb’2024. Shri lignite, and coal. Within the Finance infrastructure sector. He holds 500 shares of
Mukesh Agrawal is a Science Graduate domain, he has exhibited proficiency Coal India Limited.
from University of Allahabad and a Member across multiple dimensions, such as
of the Institute of Cost Accountants of India.
42 43
Board of Directors
Corporate Overview
Independent Directors
rank by the President of India. He was also the award of Ph.D. degrees. He was Expert He has vast experience of more than 25 He was the member of ‘Taxation
conferred with Best Researcher Award in Committee member for assessment of years in different spheres of profession committee’ and ‘Professional
2000 and Dr. Sarvepalli Radhakrishnan Major Research Projects, University Grants including Statutory Audits, Tax Audits, Development Committee’ and hold other
Best Academician Award in 2008 by Commission. He held different positions Tax Planning, Advisory, Project Financing, key positions at “The Institute of Chartered
Andhra University, and Government of such as Assistant Principal, College of Corporate Finance, funds restructuring Accountants of India”. He also associated
Statutory Reports
Andhra Pradesh conferred. ‘State Best Science & Technology, Chief Warden, and representation before Tax and other with “The Institute of Company Secretaries
Teacher Award’ on him in 2014. He was the Science Hostels, Head of the Department government departments.He has rich of India”.He is an active social Activist
faculty member of Andhra University from of Inorganic & Analytical Chemistry, experience in serving several sectors and motivational speaker associated with
1989 to 2019. He carried out postdoctoral Director, School of Chemistry, Associate including Banking, Real Estate, Distillery, RSS and other socio-cultural, charitable,
research at Indian Institute of Science, Director, Directorate of Admissions, Manufacturing and Processing, Transport, welfare organisations and resident-
Prof. G. Nageswara Rao Bengaluru (March 1990 – February 1991) Placement officer, College of Science & CA Kamesh Kant Acharya Health and Education. He is well versed market associations.He is the former co-
[DIN: 08461461] has been appointed and at University of Durban, South Africa Technology, Andhra University. He has [DIN: 09386642] CA Kamesh Kant with the working of Banks including convenor of National Commerce cell,
as an Independent Director on the Board (April 1997 – March 1998). Prof. Rao has functioned as Chairman of several NAAC Acharya (56) [DIN- 09386642] has been Reserve Bank of India, State Bank of district treasurer and ward president
of Coal India Limited w.e.f. 1st November, published 376 research papers in national peer teams and search committees for appointed as Independent Director on India, Punjab & Sindh bank, New Bank of BJP. At present he is the State Co-
2021. He was the Vice-Chancellor of and international journals and participated Vice-chancellor position. Prof. Rao is the Board of Coal India Limited w.e.f. of India and different Public and Private convenor BJP Delhi CA cell and also the
Andhra University during July 2016 and in 125 conferences. He completed the Honorary Emeritus Professor of 2nd November’ 2021. CA. Kamesh Kant limited companies, Cooperatives and member of Vigilance Committee Circle-
July 2019, In-charge Vice-chancellor of research projects funded by University Andhra University, Visakhapatnam, and Acharya is a fellow member (FCA) of Non-government organisations etc.He 58, Department of Food Supplies and
Dr. B.R. Ambedkar University, Etcherla Grants Commission, Department of Member of Executive Council of Central “The institute of Chartered Accountants remained associated with a number of Consumer Affairs, Government of NCT
from July 2017 till December 2017 and Science & Technology, Department of Tribal University of Andhra Pradesh, a of India”. He is also a Law Graduate (LL.B.) Chartered Accountants firms including of Delhi. He does not hold any shares
Mentor, Central Tribal University of AP Ocean Development, Ministry of Ocean central University. He is also President of from Delhi University. Acharya Goel & Associates. At present of Coal India Ltd.
from January 2019 to July 2019. He has and Earth Sciences, and DRDO, Govt. of Vidyabharathi, Andhra Pradesh. He does he is senior partner at ASKM & Associates
been conferred with Honorary Colonel India. He guided 62 Research Scholars for not hold any shares of Coal India Ltd. having offices at Delhi and Uttrakhand.
of India as an independent director from Department of Animal Husbandry,

State of Punjab & Jharkhand. He has vast Tribal Language & Preservation of Tribal December 2017 to March 2020. The Uttar Pradesh Power Corporation Ltd.,
experience of Policing in Terrorist and Culture, Traditions and Values. He is also Board of United Bank appointed him as Directorate of Public Works Department
Naxal (LWE) Affected Areas. He also did the Founder President of ‘SANGHARA’ the Chairman of the Audit Committee and and other organizations under the
Police Executive Programme Course in a registered organization in Punjab for member of the Stakeholders Relationship Government of Uttar Pradesh as Financial
Cambridge University, UK. Further he has the welfare of tribal migrants of Punjab, Committee, the Nomination Committee, Consultant. During his tenure as Vice
done his MBBS from Rajendra Medical Haryana, Himachal and Western U.P. He the Customer Service Committee, the President, ACCMAN Business School,
College & Hospital (RIMS), Ranchi. He has represented Civil Services Delhi & Punjab IT Sub-Committee, and the Election he was actively involved in providing
also worked as Sr. Medical Officer in The team, Rest of Bihar, Ranchi University, Committee. He is the founder Director strategic inputs and oversight of key
Emergency Medical Team of 4 Former Ranchi District in Cricket. He has also International Business Valuers Association functional areas. He also has extensive
Prime Ministers. He has experience as represented All India Police Games CA Denesh Singh (IBVA)- a RVO recognized by IBBI. He has experience in teaching. He teaches
Vice President in JSPL, Ranchi. He was Champion, Punjab Police team in Lawn [DIN: 08038875] - He has been over 21 years of diversified experience subjects like Banking & Financial Services,
also adviser and former President of Akhil Tennis. He is the Director of Lawn Tennis appointed as an Independent Director serving clients in various industries in India Credit Appraisal & Risk Management,
Dr Arun Ku m a r O ra o n Bhartiya Adivasi Vikas Parishad. He is also Academy, JSCA, Ranchi and President, on the Board of Coal India Limited w.e.f and internationally. He has specialized Financial Accounting, Legal Aspects of
[DIN: 09388744] has been appointed running, ‘Ratri Paathshala’s’ for the poor Gumla District Cricket Association. He 1st November, 2021. Shri Denesh Singh in auditing, taxation, project financing, Business, Project Planning Appraisal &
as an Independent Director on the Board tribals in three districts of Jharkhand in as is also a National Executive Member & is a fellow member of The Institute of management consulting, and other Control, and Management Accounting
of Coal India Limited w.e.f 1st November, many villages. He is the Founder of Forum co incharge of ST Morcha BJP, Assam. Chartered Accountants of India (ICAI) and consulting support services to businesses & Control. He is also a member of
2021. He is an 1992 Batch IPS, Punjab of Tribal Police Officer’s in Jharkhand He is currently spokesperson of BJP, the Vice President of ACCMAN Business in the public and private sectors for Research & Development Committee of
Cadre. He took voluntary retirement from and worked for the welfare of Tribals by Jharkhand. He does not hold any shares School. He is also an MBA from EIILM over 21 years. He has, for over 16 years, The Institute of Chartered Accountants
the rank of IGP. He was awarded the best Providing Quality Education, Promoting of Coal India Ltd. University approved by UGC, DEC & imparted training to Accountants and of India, New Delhi and Committee for
Probationer Trophy during IPS Training. AICTE with 1st Division and B.Com (Hon) Finance Officers of several Government members in Industry & Business of The
He has Served as SP, DIG & IGP in the from Banaras Hindu University with 1st Departments in different areas of Institute of Chartered Accountants of
Division. He is the senior partner of ASC Accounts and Finance viz. Department India, New Delhi. He does not hold any
& Associates, Chartered Accountants. of Horticulture, Department of Sericulture, shares of Coal India Ltd.
He served on the Board of United Bank
44 45
Board of Directors
Corporate Overview
Coal India Limited w.e.f 2nd November, Pachhat Jati Vikas Board from 2010-2012,
2021. He is a Bachelor in Science from President of G.I.D. Eng. Association,
1978. At present he is an Industrialist Gandhinagar from 2005 to 2007, Member
and Agriculturist. He has been Executive of High Power Committee, Govt. of Gujarat
Member of National Scheduled Caste 1985, President of B.J.P. Scheduled Caste
Morcha, B.J.P, President of Gujarat Senva Morcha Gandhinagar ( Gujarat) from 1990
and Ravat Vikas Sangh and Executive to 1994. He was Director in Gujarat State
Statutory Reports
Member of B.J.P Gujarat State. He was Handloom Dev. Corporation from 1998
M.L.A of Dasada Vidhansabha (Gujarat) to 2002 and Director in Gujarat State
from 2012 to 2017, Parliament Secretary Nasabandhi Board from 1982 to 1988. He
Shri Punambhai Kalabhai Makwana of Govt. of Gujarat from 2015 to 2017, does not hold any shares of Coal India Ltd.
[DIN: 09385881] has been appointed as Secretary of B.J.P Gujarat Pradesh from
an Independent Director on the Board of 2002 to 2004, Chairman of Gujarat Ati AUDIT
COMMITTEE
Shri B. Rajesh Chander Managing Partner at Hittakkal Estate Tea

NOMINATION AND
COMMITTEES
[DIN: 02065422] has been appointed Factory from1998 to 2020. He had also
REMUNERATION
as an Independent Director on the held the post of Trustee/Secretary at Isha OF FUNCTIONAL
COMMITTEE
Board of Coal India Limited w.e.f. Foundation during the period 2008 to DIRECTORS
1st November, 2021. Shri Rajesh 2020. He is also professionally involved
Chander is an Engineering graduate in tea and coffee planting business. He is
from Sri Jaychamarajendra College of also a member of Tea Board of India. He
Engineering, Mysore. Shri Rajesh Chander is also a member of Board of Governor
has served as Chairman of Coimbatore of Lawrence School, Lovedale (under
Tea Traders Association during the period Ministry of Education). He does not hold
2015 to 2017. He had also served as any shares of Coal India Ltd. CIL Board
STAKEHOLDERS Committees
RISK
Shri Ghanshyam Singh Rathore [DIN: his tenure at the Army. He served as a RELATIONSHIP
MANAGEMENT
09615384] has been appointed as Squadron Leader in the 42 Armoured COMMITTEE
COMMITTEE
an Independent Director on the Board Regiment during his career and had
of Coal India Limited w.e.f. 1st March, provided leadership to independent
2023. He was born on 19th July, 1966 teams in Technical operations. He had also
and completed his Bachelor’s degree rendered his advice to Superior Officers
in Arts from Hindu College, Delhi. He on military matters, administration and
has also completed Professional Army management of subordinate staff. His
courses in High Altitude Mountain areas of specialization and expertise
Warfare, Radio Instructor and Part ‘B’ includes Management, Administration EMPOWERED SUB-
and had also trained in manpower and Technical Operations. He does not
CORPORATE
COMMITTEE FOR
management and administration during hold any shares of Coal India Ltd. SOCIAL
EVALUATION, APPRAISAL
RESPONSIBILITY
& APPROVAL OF
COMMITTEE
PROJECTS
Shri Brajesh Kumar Tripathy, Chief Railway. Earlier, he was instrumental in SHARE TRANSFER
Vigilance Officer, CIL. Shri Tripathy IRSE, many vigilance reforms and system COMMITTEE
[1996 Exam Batch] has assumed the charge improvements while working as Chief
of Chief Vigilance Officer (CVO), Coal India Vigilance Officer (Engg.) in Eastern
Limited, Kolkata on 16th November, 2022. Railway. Shri Tripathy has vast experience
He did Bachelor of Engineering (Civil) of about 25 years in planning, design and
from MNREC, Allahabad and Masters of execution of various Railway projects, as
Technology from IIT, Delhi. Before joining well as maintenance and operation of
CIL he served in the administrative post major infrastructure. He has expertise in
of Additional Divisional Railway Manager matters related to establishment, budget,
(ADRM) of Asansol Division of Eastern tenders and contract management etc. He
does not hold any shares of Coal India Ltd.
46 47
Chairman’s Statement
Corporate Overview
Over Burden Removal (OBR) of 173 MT/Y, work order for 13 Projects 2, and Fertilizers – 1) have obtained the
of 141 MT/Y capacity have been issued approvals from the Cabinet Committee
• Sustaining the high growth trend of
where mining operations have begun in 4 in Economic Affairs (CCEA) for equity
previous financial year, CIL extracted
projects which contributed around 7 MTs investment beyond the extant ceiling
1964.144 million cubic metres (Mcum)
of coal in FY 2023-24. mandated by DPE guidelines
of OB overtaking the annual target of
1837.565 Mcum achieving 106.89% • Approval of Projects: 16 coal mining • Renewables: Solar power generation lists
of the target satisfaction. projects having a total capacity of prominently in CIL’s drive towards net zero
Statutory Reports
Coal India concluded 170.46 MT/Y (incremental Capacity emissions. Current installations stands at
• This is the second consecutive year - 85.66 MT/Y) with total sanctioned
the fiscal year 2023-24 that CIL has surpassed its OBR capital of Rs. 27,087.69 crore were
approximately 82.68 MW with 71.63 MW
Solar Capacity commissioned during the
on a thumping note with target. OBR growth bodes well for approved in FY 2023-24 year. Further, approximately 195 MW are
CIL in getting future ready to ramp
impressive all-round up the production.
5. Capex Push under implementation stage. Solar Power
generation stands at 20.219 Million units
performance, poised • The target of Capex of CIL & its
as of FY 2024 end.
Total coal off-take Subsidiaries was Rs 16,500 crore as on
to enter fiscal year to 31st March 2024. During the year CAPEX • Thermal Power Plants: To support nation’s
• Total coal off-take scaled up to 753.52
achieve even higher MTs with an incremental growth of spending amounted to H 23,475.41 crore endeavors for cleaner, affordable and
registering a growth of 26% over last year reliable energy, CIL has geared up to
goals aspirations set for 58.84 MTs compared to 694.68
(H 18619.27 crore). set up several super-critical / ultra super-
MTs of FY 2023. Off-take grew by
our company. 8.47% during the year. 6. Impetus on UG mining critical pit-head thermal power plants. Site
identification and pre-feasibility studies
• During the year, six Continuous Miners
Supplies to Power Sector for the flagship initiative of 2x800 MW
have been deployed as part of strategy
• Supplies to coal fired plants peaked to (Phase-I) through Mahanadi Basin Power
to boost UG mechanization with Mass
an unprecedented 619.7 MTs meeting Production Technology. Further, three Limited has been completed. Acquisition
101.59% of the 610 MTs demand Highwall Miners have been commissioned of land and appointment of PMC is
projected by the Ministry of Power during FY 24 in ECL, WCL and SECL. under final stages.
and Central Electricity Authority. • Surface Coal Gasification: Under Coal
• Revisiting abandoned UG mines: In a bid
Dear Stakeholders, • Compared to 586.58 MTs off-take to to tap the latent coal reserves of some of to Chemical business vertical, three coal
power sector in FY 2023 the increase its closed and discontinued underground gasification projects have been taken up.
Coal India has closed the financial year 1. Importance Coal and Coal India 2. Performance Peaks
in volume terms was 33.12 MTs, which mines, CIL has awarded 11 such mines A JV agreement was signed with BHEL
2023-24 on a thumping note, all-round Limited • Coal production of 773.647 MT during is a growth 5.64%. during 2023-24 on revenue sharing for the project in Odisha, whereas the
performance, and step into another fiscal 2023-24 achieved 99.16% of the
Globally coal accounts for nearly 36% model to successful bidders of the private signing of JV agreement with GAIL is in the
to meet higher goals and aspirations annual target of 780.20 MT registering 3. Other Highlights
of the electricity generation whereas in sector. The cumulative peak rated capacity advanced stage for project at West Bengal.
placed on our company. Coal, still retains 10% growth, for a record second • Quality Coal Supply: The efforts for
the Indian context it is almost twice of of these mines is 17.86 million tonnes/year
its energy dominance and continues to successive year. Bearing testimony to a • Critical Minerals Value Chain
that at 73% in the power generation. As better quality coal supplies reflected a (MT/Y) while the total extractable reserves
be the forerunner in meeting India’s high growth orbit the incremental gain positive jump as the grade conformity With an objective to reduce the import
baseload fuel, coal virtually empowers are estimated at 267.54 MT. A total of 24
primary commercial energy. A position during the previous two financial years improved to 76% during FY 2023-24 dependence on critical mineral assets
the power sector of India. Factors that such mines have been awarded so far
that would not be challenged for at least combined (2023-24 & 2022-23) was a from 70% over preceding year as per out of 34 identified mines. Your company like lithium, cobalt CIL is actively pursuing
weigh heavily in favour of coal are its
two decades hence despite the onrush of mammoth 151 MTs. This is higher, by the Third-party sample analysis results is also identifying few more mines for the acquisition of these minerals in India and
abundance, availability and affordability
renewable energy sources. 22.6 MT, than the cumulative growth received till 31.03.2024. purpose to attract wider participation with abroad. Under the domestic initiatives, CIL
making it the preferred fuel of choice. Its
of 128.4 MT of previous seven years relaxed bid norms. has participated in the first tranche of the
While energy is important so is the accessibility and reliability of delivery are • Rake loading up: Daily average rail
(2014-15 to 2021-22).
environment and the onus is on us to mine other supplementing factors. Additionally, loading was at its highest ever level of e-auction of critical mineral blocks offered
• At a time when the country is focusing 7. Diversification Initiatives by the Ministry of Mines and will continue
the coal with minimal impact of environment coal continues to stoke many non-power 291.9 rakes/day against 273.6 rakes/
and society. We should strike a judicious industries as well viz. cement, fertilizers, on ramping up coking coal production, day during the corresponding period of CIL has tremendous potential to aim for to participate in such acquisition of blocks.
balance between these imperatives, through sponge iron, aluminum and a host of CIL produced 60.433 MT of this variety 2022-23, registering a growth of 6.68%. a considerable topline boost through a
In the long term, CIL is aspiring to expand
sustainable practices, as we have been doing other industries. in FY 2023-24 with a growth of 10.65% Rake loading for Power Sector consumers mix of multi-dimensional diversification
beyond the current geographical
since decades past. over last fiscal’s 54.618 MT. was also at the highest ever level of 268 initiatives, which will pave the way for new
Against this backdrop, you will be proud boundaries in the minerals sector,
• For the first time in 14 years, since rakes/day against 259.4 rakes/day during areas of strategic growth. FY 2023-24 was
I would like to touch upon a few key to know that CIL have put up a strong and emerge as a contemporary
FY 2010, CIL was able to arrest the the same period last year, registering marked as the year when, the highest
performance areas that your company performance in all the physical parameters GLOBAL ENERGY AND MINERAL
declining trend in UG production and a growth of 3.31%. number of feasibility studies (preliminary
has excelled in and initiatives that it had in the just concluded Financial Year 2023- and detailed) were completed, several CONGLOMERATE that operates in a
produced 26.021 MT bettering the
embarked upon. Your company is equally 24. The production achievement of 773.647 4. Plans for output growth MOUs as well as one JVA were executed professional and consumer-friendly
previous fiscal’s UG production of
committed to the wellbeing of all the Mt during 2023-24 were the result of to lay the foundation of CIL’s entry across manner while staying committed to
25.487 MT clocking a growth of 2.10%. • MDOs: Of the 15 MDO projects identified
associated stakeholders. synergic efforts at all levels right from multiple sectors. During this year FY sustainable developmental goals.
for outsourcing the production, (11 OC
Ministry of Coal, Coal India Limited and 2024, five (05) of CIL’s diversification
and 4 UG), having combined capacity
all its subsidiaries. initiatives (TPP – 2, Coal to Chemicals –
48 49
Chairman’s Statement Awards in 2023-24
Corporate Overview
8. CSR- Positively impacting the Lives of • OB to Sand: Towards sustainable The Secretarial Audit Report 2023-
People development goal, CIL is utilizing an 24 forms part of Director’s Report.
eco-friendly conversion of overburden The power to appoint Woman COAL INDIA FUNDS THE NEWLY INAUGURATED SHUTTLE
• CIL and its subsidiaries have utilized
material for making sand. This initiative Independent Director vests with the EXPRESS STADIUM
H 654.49 crore on CSR initiatives in FY
makes cheaper sand available Govt. of India. Your Company has Coal India is proud to have contributed to the development of
2023-24 against the statutory requirement taken up the matter with Ministry of
for commercial and internal use. sporting facilities in the Nation. Coal India has helped partially
of H 547.59 crore, that is, 119.52% Coal even before vacancy arose as
Overburden is also utilized for other in the construction of the Shuttle Express Stadium, the largest
achievement. Other notable events of purposes like road construction, well as subsequent to the vacancy.
FY 2023-24 were inauguration of Medical badminton stadium located in Kolkata, West Bengal, using
construction of railway siding, civil 12. Vision CSR funds. Spread over fifty-six thousand square feet the
Statutory Reports
college cum hospital at Angul, Odisha works etc. 4.33 lakh Cubic metres of
and cardiac care hospital at Jharsuguda, • Your Company’s vision is to ensure that Shuttle Express stadium boasts of eight world-class teak-wood
OB has been used in FY 2023-24 for
Odisha; offering assistance through CIL’s there is no shortage of coal in the country Badminton courts, dormitories with toilets, dressing rooms, a
such purposes generating a revenue
flagship CSR project ‘Thalassemia Bal and to make the country self-reliant in warm-up track, a kitchen and a training ground
of Rs 14.80 crore for the company.
Sewa Yojana’ to 500 underprivileged terms of coal. Coal India envisions to
be a commercially viable Company CMD, Coal India honoured with BHASKAR
children for Bone Marrow Transplant. 10. Safety is Always a priority
and endeavours to move ahead as a BHATTACHARJEE MEMORIAL AWARD
As recognition of this endeavor the • Safety of mines are of utmost importance
contemporary, professional, consumer
project also won GLOBAL GOLD in and CIL is committed to safe and
friendly and successful corporate entity
the Fuel, Power & Energy Category in sustainable mining practice, prioritizing
committed to national developmental
the internationally acclaimed ‘Green the well-being of employees. FY 24 had
goals. Our vision also extends to
World Awards-2024’. 28 fatalities and 45 serious injuries as
dedicate our services to the service of
against 21 and 60 in FY 23 respectively.
the countrymen in providing the primary
9. Greening Efforts Safety Audit has been completed in all
commercial energy in an affordable and
• Plantation: For the first time CIL’s mines of CIL and adequate preventive
environment-friendly manner. Coal India
plantation area has exceeded 2,000 measures have been taken including
aims to be not only a valued Company,
Hectares in FY 2023-24. Stepping up introduction of new Occupational Health
but a Company with values.
the greening efforts in mining areas CIL’s and Safety Policy to ensure safety and
well-being of employees across all 13. Acknowledgement
subsidiaries have increased the plantation
area to 2,167.61 Hectares surpassing the mines and establishments. • On behalf of your Company’s Board
annual target of 1,820 Hectares. 11. Corporate Governance of Directors, I wish to convey my COAL INDIA - THE CORPORATE CITIZEN
deep gratitude to you, our valued The recently inaugurated Service Block at the Ramakrishna
• Creation of Eco-Park: CIL has been • Your Company has complied with the
shareholders, for your continued support
creating eco-parks as a part of land conditions of Corporate Governance, Mission Vivekananda Centre for Human Excellence and Social
and trust. This motivates us to excel in all
reclamation as well as to boost local as stipulated in the Guidelines on
our pursuits and constantly create value
tourism and promote conservation in Corporate Governance for Central
for you as well as for the nation.
mining areas. In addition to existing Public Sector Enterprises (CPSEs)
30, CIL has developed 2 more eco- issued by the Department of Public • I appreciate the unstinted support
parks, one each in NCL and WCL Enterprises, Government of India and and valuable guidance received from
during FY 2023-24 over an area of Regulation 34(3) read with Schedule the Ministry of Coal, Government
10.50 Ha at 1.25 crore. V of the SEBI (Listing Obligations and of India. I also express my sincere
Disclosure Requirements) Regulations, thanks to other Central Government
• Mine Water Utilization: CIL effectively 2015 with the Stock Exchanges. Sciences, known as the “Vivek Tirtha,” in New Town, Kolkata,
Ministries and Departments, State
uses the discharged mine water for As required under SEBI (LODR) stands as a testament to the generous funding by Coal India, as
Governments, all employees, Trade
domestic and industrial purposes. Regulations 2015, a separate section Unions, Auditors, Consumers, Suppliers a part of its corporate social responsibility initiatives.
2,595.29 lakh Kilo Litres (LKL) mine on Corporate Governance has been and all other stakeholders for their
water was utilised for own use and added for compliance of conditions
continuous co-operation. COAL INDIA INKS MOU FOR POWER PURCHASE AGREEMENT
2,591.42 LKL for community supply of Corporate Governance and has
including domestic and irrigation been obtained from a peer reviewed, Coal India signed a Memorandum of Understanding with Haryana
purpose benefitting 11.62 lakh Practising Company Secretary. Power Purchase Centre (HPPC) which expressed interest of HPPC
people in 857 villages. to purchase 800 MW of power from ‘Mahanadi Basin Power Ltd’ a
Your Company has conducted
wholly owned subsidiary of Coal India arm, Mahanadi Coalfields
• Energy Efficiency Measures: In a bid Secretarial Audit by a peer reviewed
to reduce carbon-di-oxide emissions Practicing Company Secretary firm Safety of mines are of Limited. The MoU’s purpose is to formalise and define the basic
in its mining areas, CIL has undertaken for F.Y. 2023-24 as required under utmost importance and framework of discussions of the power purchase agreement.
Companies Act’ 2013. The Company The MoU was inked in the presence of Shri Manohar Lal Khattar,
several energy efficiency measures. The
has complied with the provisions
CIL is committed to safe Hon’ble Chief Minister of Haryana, in the state capital Chandigarh.
cumulative effect since the initiation of
these measure three years ago till FY of Companies Act’ 13 and SEBI and sustainable mining Shri Debasish Nanda Director (Business Development) CIL
2023-24 resulted in saving 12.84 Mill (LODR) Regulations 2015 except for practice, prioritizing the signed the pact on behalf of Coal India and Mr. Randeep Singh,
appointment of Woman Independent
Units of electrical energy per year and
Director resulting in levy of penalty by
well-being of employees. Chief Engineer represented HPCC which is a joint forum of the MoU signing ceremony with HPCC
reduction of 1,05,319 tonnes of CO2 State’s two DISCOMS.
Stock Exchanges for non-appointment
emissions per year.
of Woman Independent Director.
50 51
Awards in 2023-24
Corporate Overview
COAL INDIA ORGANISES FREE HEARING AID DISTRIBUTION
CAMP
Coal India set up a free hearing aid distribution camp in Alzwal,
Mizoram. This initiative wa was a part of the Deaf Free Bharat
in collaboration with the Deen Dayal Sravana Foundation
and the National Programme for Prevention and Control
of Deafness (NPPCD)
Statutory Reports
COAL INDIA INKS MOU WITH RAJASTHAN RAJYA VIDYUT
UTPADAN NIGAM LIMITED (RVUNL)
CMD, CIL with Hon’ble Union Minister of Coal and Mines.
LITTLE MASTER EXPRESS GRATITUDE TO COAL INDIA
Drawing Competition on the occasion of World Environment Day held on 5th June 2024
CMD, CIL with Hon’ble Minister of State for Coal and Mines
52 53
Corporate Overview
Statutory Reports
Visit of Hon’ble Union Minister of
Coal and Mines at CIL Hq
Visit of Hon’ble Minister of State
for Coal and Mines to NCL
NCL review meeting chaired by

the Hon’ble Minister of State
Review meeting of CIL chaired by Hon’ble Union Minister of Coal & Mines for Coal and Mines
54 55
Corporate Overview
What we How we
strive deliver
Statutory Reports
for this
• Strive to maximize shareholder • Invest strategically in

value through sustained high-return projects and
profitability and efficient diversify into new sectors.
Capital
capital management.
• Manage capital expenditure
• Surpass previous records effectively to support growth.
Financial
in p ro f i t a b i l i t y and
financial performance.
What we
Our robust financial strategies form the achieved

bedrock of our operations, ensuring
we are well-equipped to meet India’s
growing energy needs. By prioritizing Achieved a record profit after Made the highest-ever
effective capital allocation, sound financial tax of payment of
management, and sustainable growth,
we strengthen our ability to generate ₹37,369.13 ₹60,197.80
returns for our stakeholders. Financial
Capital encompasses our available
crore. crore
to the government exchequer.
funds, including retained earnings and
equity funding, which we manage to
maintain liquidity and support ongoing
SDGs Aligned investments. This strategic approach
enables us to finance key projects and
sustain long-term growth, contributing
significantly to India’s energy sector.
56 57
Financial Capital
Corporate Overview
Sustaining a robust balance In FY 2023-24, we achieved our highest- Net profit Debtor turnover ratio Gross sales Expanding horizons with new
sheet ever capital expenditure (CAPEX) of (J in crore) (Number of months) (J in crore) subsidiary
H23,475.41 crore, aiming to enhance
We embrace a value-focused approach The establishment of Bharat Coal
core operations and growth projects.
to capital allocation, prioritizing Gasification and Chemicals Ltd., a joint
This CAPEX is central to our strategy
sustainable operational activities venture with BHEL, marks our entry
of maintaining a strong asset base, 1.61
while maintaining the integrity of our 37,369.13 into cleaner energy solutions. This
essential for our sustained operational 1,93,907.1
balance sheet and ensuring flexibility subsidiary focuses on advanced coal
Statutory Reports
capacity and future project options. 31,722.98
for future investments. Our disciplined 1,87,455.57
gasification technology to produce
capital deployment in FY 2023-24 led Our procurement through the syngas, ammonia, nitric acid, and
to a robust Profit Before Tax (PBT) of Government e-Marketplace (GeM) 1,52,603.30 ammonium nitrate, which are essential
H48,812.61 crore and Profit After Tax significantly increased to H99,305.38
17,378.42 1.22 1,34,979.13 for various industrial applications. By
(PAT) of H37,369.13 crore. This growth crore from H3,236.97 crore in FY 2022- leveraging coal gasification, we aim to
enhances our balance sheet, providing 23, indicating our focus on enhancing 16,700.34 0.88
1,26,786.13 reduce the environmental footprint of
0.81
us with strategic flexibility to navigate both operational efficiency and capital 0.78 coal usage and support the transition to
through economic cycles. productivity. Our approach ensures 12,702.17
more sustainable energy practices. This
prudent financial management that initiative enhances our project portfolio,
balances risk and maximises returns aligning with national energy priorities
across the commodity cycle. and contributing to the diversification
of our revenue streams.
Bharat Coal Gasification and Chemicals

Ltd. strengthens our positioning by
2019-20 2020-21 2021-22 2022-23 2023-24 2019-20 2020-21 2021-22 2022-23 2023-24 2019-20 2020-21 2021-22 2022-23 2023-24
opening up future project options
beyond traditional coal mining. It enables
economic development through job
creation and technological innovation
while delivering environmental
Return on average net worth Net worth Net sales
benefits such as lower greenhouse
(%) (J in crore) (J in crore) gas emissions. This collaboration with
K1,42,323.98 K51,792.96
BHEL leverages both companies’
strengths in engineering and project
crore crore 82,710.91

management, driving the successful
implementation of complex projects
61.04
Total revenue from operations EBITDA * 52.07
1,30,325.65 and achieving economies of scale. The
57.02 60,822.80
(Net) venture enhances our project portfolio
43,124.14 1,27,627.47
to deliver significant returns through
36,499.58 innovative and sustainable technologies.
43.65 1,00,562.57
K1,30,325.65 K37,369.13
crore crore 37.01 32,138.35 89,373.34
82,710.32
Net Sales PAT
30% 28.67%
Operating profit margin Net profit margin 2019-20 2020-21 2021-22 2022-23 2023-24 2019-20 2020-21 2021-22 2022-23 2023-24 2019-20 2020-21 2021-22 2022-23 2023-24
*EBITDA has been calculated by adjusting (adding back) with profit before tax the finance cost, depreciation/amortisation/impairment, and deducting interest income.
58 59
Financial Capital
Corporate Overview
Capital allocation for resilient EPS Strategic alliances and
growth (in J) partnerships
The key agreements and MoUs signed with
Venturing into the critical minerals value chain
We strategically managed our reserves,
transferring H 1,415.27 crore to General various state and private entities facilitate
As global demand for critical minerals Focus areas We are engaged in identifying
Reserves, as part of our ongoing strategy the implementation of large-scale projects,
such as lithium, cobalt, nickel, graphite, and exploring opportunities for
to ensure sustained growth with financial 60.69 contributing to our financial growth and Our activities in the critical minerals
supporting the national energy policy. and rare earth elements rises, we are acquiring critical mineral assets both
stability while supporting shareholder sector will include:
Statutory Reports
diversifying into this sector to explore domestically and internationally.
value. Reflecting our shareholder- 51.54 • Signed an MoU with Haryana Power new revenue opportunities. These Within India, we are participating in
Critical mineral mining: Engaging in
focused capital allocation, we distributed Purchase Centre for supplying 800 minerals are essential for batteries, critical mineral auctions conducted
extraction, either independently or
dividends totalling H15,714.99 crore at MW of power from the MBPL project. electronics, and clean energy by the Government of India. For
through collaborations.
H25.50 per share, aligning with our goal technologies, aligning with the global foreign acquisitions, the company has
• Executed a Joint Venture Agreement
to provide stable and predictable returns with BHEL for setting up a Coal to shift towards renewable energy. Midstream/downstream processing: executed Non-Disclosure Agreements
to our shareholders. Ammonium Nitrate project in MCL Processing extracted minerals through (NDAs) with asset owners and is
28.17
27.12 with a 51%-49% shareholding. We have amended our Memorandum in-house capabilities or partnerships. evaluating these potential assets. By
of Association to include a focus on diversifying into the critical minerals
20.61 • Signed an MoU with Rajasthan Rajya
Capital allocation framework the critical minerals business value End product manufacturing: Establishing
Vidyut Utpadan Nigam Limited to sector, we not only enhancing our
chain. This strategic move leverages manufacturing facilities for products
explore up to 4100 MW renewable revenue streams but also contribute
Operating cash flow our mining expertise to capitalize derived from critical minerals.
and thermal projects through a to India’s goal of self-reliance in
joint venture, starting with pre- on this growing market, ensuring critical minerals.
Additionally, we are exploring
feasibility studies. sustainable growth and mitigating
opportunities for collaboration in R&D
risks associated with declining coal
to develop advanced technologies for
2019-20 2020-21 2021-22 2022-23 2023-24 demand. This initiative supports India’s
Maintain and optimise efficient exploration, mining, processing,
1 goal of self-reliance in critical minerals,
operations and recycling of critical minerals.
Diversifying across sectors for reducing import dependence and
sustainable growth enhancing national security.
Retain cash/ maintain balance
2 Dividend We are strategically expanding into
sheet strength
(J in crore) new markets through joint ventures
and investments across various sectors,
Return to enhancing our business diversification
3 and demonstrating strategic foresight in
shareholders
adapting to changing market dynamics. Economic value generated and distributed (H in crore)
In the Chemicals & Fertilizers sector,
15,714.99
Strategic allocation of ventures such as Hindustan Urvarak &
4 Rasayan Ltd and Talcher Fertilizers Ltd
surplus capital 9,860.4 To t a l Va l u e
focus on leveraging natural gas and coal Generated
14,944.66
gasification for urea production. These
projects support India’s food security
10,476.64 and are integral to our diversification 215326.54
strategy, helping to sustain capital while Total Value Retained
Payment to providers of capital
promoting long-term growth. Operating Cost
7,395.27
Our expansion extends into the Thermal
51650.84
Capital Power Generation sector with significant
22303.57 Interest to Dividend to
lenders shareholders
investments investments in projects like Mahanadi Basin To t a l Va l u e
Power Ltd and the SECL-MPPGCL JV. These Distributed 819.37 15098.72
initiatives broaden our footprint in energy
generation, ensuring operational continuity 193022.97 Employee Benefits
Expansion Unforeseen
and enhancing energy security. In the Coal- 48,782.58
to-Chemical projects, our collaboration
contingencies
with industry giants like BHEL and GAIL
2019-20 2020-21 2021-22 2022-23 2023-24 * Operating cost is excluding benefits as employee benefits
focuses on coal gasification processes.
are shown seperately
This approach not only diversifies our
portfolio but also aims to generate returns ** CSR expenses spent in FY 2023-24 Community Payment to Governments
that surpass our hurdle rate, ensuring the investments (including Taxes)
*** Statutory Levies and Income Tax for FY 2023-24
sustainability of our ventures. 654.49 76016.97
60 61
Corporate Overview
What we How we
strive deliver
Statutory Reports
for this
Social and
• Strengthen community relations • Execute CSR projects focusing
and social initiatives. on health, education, and
community development.
• Increase CSR expenses to support
Capital
community development. • Uphold transparent and ethical
business practices to maintain
Relationship
stakeholder trust.
What we
Building strong relationships with our achieved

stakeholders is crucial for the holistic
growth of our business. We are deeply
invested in fostering trust and mutual
respect with communities, regulatory projects
Strengthened
Executed numerous CSR
bodies, and partners. Through active

engagement and socially beneficial benefiting local partnerships
with governmental and non-
initiatives, we aim to create a positive communities. governmental organisations.
impact that resonates beyond our
operations. This capital highlights our
commitment to societal upliftment,
ensuring that our progress aligns with the
SDGs Aligned
aspirations of the people and communities
we serve. These relationships are the
cornerstone of our approach, allowing us
to navigate challenges and capitalize on
opportunities in the energy landscape.
62 63
Social and Relationship
Corporate Overview
Contributing to community Empowering m a rg i n a l i s e d Transparent grievance redressal Empowering m a rg i n a l i s e d Through our CSR projects, we
upliftment
At Coal India, our approach
communities
In collaboration with local communities,
systems
To ensure open communication, we
communities
While we strive to avoid resettlement
undertake extensive rehabilitation
efforts for individuals displaced by
our mining operations. Following
3,16,225
to community engagement is NGOs, and government agencies, we have implemented a comprehensive whenever possible, we ensure that standard housing units available
have launched several projects aimed community grievance mechanism living conditions and livelihoods regulatory guidelines, we develop
grounded in trust and respect. Our across CIL and its subsidiaries
detailed five-year rehabilitation plans
operations are designed to deliver at addressing the needs of marginalized at all our mines. This system helps are restored or enhanced when
with specific targets, monitoring
tangible benefits and shared value groups. By empowering these us understand local impacts and resettlement is necessary. Our projects
Statutory Reports
protocols, maintenance strategies, and
to the communities we serve. This communities and encouraging their empowers communities to voice are carefully planned in consultation
11,000
management programs. These initiatives
involves creating job opportunities, active participation in the development their concerns for prompt resolution. with local stakeholders and affected
ensure the successful transition of coal
supporting local businesses, nurturing process, we aim to enable a more Addressing grievances quickly allows community members, contributing
mining projects and support displaced
local talent, and promoting socio- equitable and inclusive society. Our us to identify recurring issues and to socio-economic development
families through fair compensation, People covered under Skill
economic development. We make initiatives, including vocational training, implement preventive measures to through income-generating activities.
infrastructure development, and Development & Livelihood
every effort to mitigate any negative scholarships, and educational support minimize future impacts. Community By empowering the local workforce
livelihood restoration. By addressing Enhancement initiatives
impacts and implement responsible are designed to uplift marginalized Development officers serve as with skill development and creating
broader socio-economic needs and
measures when necessary. communities and narrow social and intermediaries, facilitating discussions sustainable livelihood opportunities,
providing targeted interventions for
economic disparities. and resolutions between aggrieved we enhance the economic well-being
education, healthcare, community
Maintaining our reputation as parties. We also maintain strong of our communities.
a trusted community partner relationships with public representatives development, and environmental
requires a focused and strategic sustainability, we strive to empower
to address community concerns
approach. We have established a communities, promote sustainable
collaboratively. Grievances are received
robust engagement framework that development, and improve the quality
through traditional channels and the
emphasizes meaningful interactions of life for affected individuals.
Centralised Public Grievance Redress
and a deep understanding of local Our steadfast dedication to
and Monitoring System (CPGRAMS)
community needs. Our Community societal development garnered
portal, ensuring transparency and
Development officers regularly engage international acclaim at the
efficient complaint tracking.
with residents and their representatives ‘Green World Awards’. At the
to assess needs and initiate various ceremony held in March 2024,
projects. Collaborating with public in Brazil, CIL was honored with
representatives and government the Gold Award in the CSR
agencies ensures our projects align with category within the ‘Fuel, Power,
local development goals, reinforcing and Energy’ sector. Coal India Limited (CIL) and its
our social license to operate. subsidiary Central Coalfields
Limited (CCL) collaborated to
host a transformative conclave on
196
CSR & Suatainabililty named ‘‘Re-
engineering CSR’’ on April 25th
and 26th, 2023, in Ranchi. This
Community development landmark event brought together
cadre over 300 participants, including
CSR executives, local students
from academic institutions,
implementing agencies, and CIL’s
management and subsidiaries.
The conclave featured six
prominent thought leaders and
domain experts who shared their
insights, encouraging dialogue
and innovative ideas aimed at
advancing community upliftment
and sustainability practices.
Nutritional Kits distribution in nearby areas by SECL under CSR

Developing Anganwadis as Model Angawadis under
CSR Initiative by NCL
64 65
Corporate Overview
Spotlight on community endeavors
In the financial year 2023-24, we significantly increased our commitment to community
welfare, raising our Corporate Social Responsibility (CSR) spend by 14%, amounting to
H574.58 crore compared to the previous year. This year our focus was on ‘healthcare J574.58 crore Empowering through education and livelihood
Statutory Reports
and nutrition,’ alongside significant investments in ‘education and livelihood’ and Our initiatives in education and livelihood have been transformative.
Total CSR Spend
‘environmental sustainability’. Through a variety of impactful projects, we continue ln Karnataka’s Dharwad district, we constructed new classrooms
to make substantial contributions to the upliftment of communities across India. in government schools, and in Bagalkot district, we undertook the
reconstruction of flood-affected school buildings, ensuring that education
continues uninterrupted for hundreds of students.
The ‘Digital Vidya’ project has been a game-changer, introducing smart

Transforming healthcare classrooms and ICT labs in 22 coal mining districts in 5 states so far
bridging the digital divide and ensuring a modern learning environment.
Healthcare is the priority theme of our commenced for Congenital Heart Technology, Bombay to provide
CSR initiatives. Our efforts in healthcare Disease (CHD) patients in 4 districts of safe and hygienic accommodation
‘SECL Ke Sushrut’ project, conceptualised on the lines of ‘CCL Ke Laal/
have brought critical advancements to Jharkhand. A 100 bed cardiac care centre for female students. Laadli’ saw huge success in its first year of implementation with 31
numerous communities. At the lnstitute has been constructed in Jharsuguda students being selected for MBBS/BDS/BAMS.
of Neurosciences in Kolkata, we provided which is expected to be a major specialty
an MRI machine to enhance neurological facility in this region. To support sustainable livelihoods, CIL constructed a Natural Fibre
care. ln Odisha, the 500 bedded Diversified Product Training and Development Centre for women in
ln sports and education, we made
Pabitra Mohan Pradhan Govt. Hospital
inaugurated in Dec. 2023 is expected to
serve as a major tertiary healthcare centre
noteworthy contributions by building
hostels for sportspersons. This includes
J251.04 crore Murshidabad, West Bengal, promoting the use of natural resources and
traditionalskills. Additionally, we are setting up MultiSkill Development
lnstitutes (MSDls) in each of the subsidiaries which will act as major
Smart Class room under CSR
a hostel for women athletes at the Spent on healthcare, nutrition

for Angul and nearby districts.
One of our most impactful healthcare

Sports Authority of lndia Netaji Subhas
Southern Centre in Bengaluru and a 400-
and sanitation
skilling centres in employment oriented trades. First of such centres was
inaugurated in Belgaria, Dhanbad district in March 2024 with a batch
of 30 candidates in ‘Fashionpreneur’ trade.
J124.53 crore
initiatives, the Thalassemia Bal Sewa bed facility at the Lakshmibai National Spent on education and livelihood
Yojana (TBSY), reached a milestone of 500 lnstitute of Physical Education (LNIPE) in
bone marrow transplants, offering crucial
financial assistance to underprivileged
Gwalior, Madhya Pradesh which is nearing
completion. Additionally, girls’ hostels is
J10.61 crore
patients. A new disease-specific being constructed at the lndian lnstitute of Spent on Thalassemia Bal
Sewa Yojana
intervention named ‘Nanha Sa Dil’ has
Promoting environmental sustainability

We are committed to environmental sustainability through initiatives
such as the establishment of a Sewage Treatment Plant (STP) in Mayapur,
West Bengal. This project aims to improve water quality and promote
environmental conservation in the region.
J22.68 crore
Spent on Environment and
Sustainability under CSR
Eco Park
SECL ke Sushrut
66 67
Corporate Overview
Partnering with government and
regulatory bodies
Engagement with government and

regulatory bodies is integral to our
commitment to good governance and
sustainable development. Collaborative
Statutory Reports
efforts enable us to align our Corporate
Social Responsibility (CSR) initiatives with
national schemes and navigate complex
regulatory frameworks effectively. This
partnership extends to discussions on
environmental regulations, labour welfare,
and compliance with Ministry of Corporate
Affairs (MCA) and Department of Public
Enterprises (DPE) guidelines.
Regular reporting to regulatory agencies
ensures transparency in our operations,
covering financial performance,
environmental compliance, and progress
Smart Class room under CSR in CSR initiatives. This proactive approach
cultivates trust and ensures adherence to
Enhancing customer experience with accountability and transparency. legal and ethical standards, supporting
Conferences and regular feedback our role as a responsible corporate citizen.
At Coal India, we prioritise meaningful sessions provide valuable insights that
engagement with our customers to ensure guide our continuous improvement efforts Nanha sa Dil- a CSR initiative
their satisfaction and address their needs in service delivery.
effectively. Through regular interactions
and transparent communication channels,
we provide up-to-date information on
coal availability, pricing, and related
details via our website and auction
service providers’ platforms. Digital
media further enhances our outreach,
facilitating swift dissemination of updates
and crucial information.
Customers are encouraged to share

feedback, suggestions, or concerns
through emails or letters, enabling us to
promptly address grievances. We have
established robust grievance redressal
mechanisms, including dedicated
Consumer Grievance Redressal
Committees, to handle issues such as
refund claims and quality concerns
CSR Initiative - MCL provides e-vehicles for efficient waste management
Road constructed under CSR initiative by NCL Sewing machine distributed under CSR
initiative by SECL
68 69
Corporate Overview
Building investor trust
Transparency is fundamental to our and dialogue sessions offer platforms for support sustainable growth initiatives.
investor relations strategy at CIL. We addressing investor queries and concerns, Our commitment to transparency and
adhere strictly to regulatory guidelines reinforcing trust and transparency in accountability underscores our dedication
by promptly disclosing financial results and our relationships. to maintaining strong partnerships with
operational updates. Timely publication our investor community.
Statutory Reports
of annual and quarterly reports facilitates By maintaining open communication and
informed decision-making among providing comprehensive information,
investors and analysts. Interactive meetings we strengthen investor confidence and
Orientation programme for newly joined Management Trainees’ at IICM Ranchi
Brainstorming session at CIL HQ
Outbound Leadership development programme for CIL Employees
70 71
Corporate Overview
What we How we
strive deliver
Statutory Reports
for this
• Enhance production and • Expand coal production

evacuation capacity. capacity, aiming for new
production records.
• Implement First Mile
Capital
Connectivity (FMC) projects • Develop rail and
to increase mechanized road infrastructure to
Manufactured
coal transportation. improve coal evacuation.
What we
With a focus on sustainable mining achieved

practices and operational excellence, we
optimise coal production and enhance
the supply of different grades of coal for Commissioned Made
various requirements. Our Manufactured
Capital includes not just our physical multiple FMC s i g n i f i c a n t
mining assets but also the investments projects investments
we make in technological upgrades and to s t rea m l i n e coal in mining equipment and
operational excellence. This focus on transportation. technology.
enhancing our infrastructure supports
our goal of delivering high-quality coal
while adhering to sustainable practices,
SDGs Aligned thereby meeting the diverse energy
needs of India.
72 73
Manufactured Capital
Corporate Overview
773.65 619.7
Coal production mines with underground (UG) capacity Investing in future capacity Ensuring energy security
utilisation at 85.60% and open-cast
Through strategic investments and We are advancing 119 coal projects with For the power sector, we supplied 619.7
(OC) capacity utilisation at 93.84%. We
effective coordination, we continue a sanctioned capacity of 896 million million tonnes during 2023-24, exceeding
to attain significant milestones in million tonne also exceeded the previous high of
tonnes per year (MTY) and a sanctioned the demand of 610 million tonnes set by million tonnes
Highest coal production 90% capacity utilization, with the total Coal despatched to the
production, capacity utilisation, and capital of H 133,576 crore. These projects the Ministry of Power. This marks the second
achieved since inception volume of coal and overburden handled power sector
project implementation. These efforts are at various stages of implementation, consecutive year that our coal supplies
by CIL at an overall system capacity
ensure our pivotal role in meeting the as part of our proactive approach to to the power sector have surpassed the
Statutory Reports
utilization of about 93.78%.
country’s energy demands through increasing its production capacity and target, indicating robust supply chain
747.63 84.4
collaboration with the Ministry of Coal meeting future coal demands. The and operational efficiency. Meeting and
and other key stakeholders. Regular development of these projects involves exceeding the power sector’s demands
753.52
coordination with power plants, substantial investments in advanced mining is crucial for ensuring uninterrupted
industrial consumers, and other users
million tonnes technologies and infrastructure, aimed power generation and supporting the million tonnes
Coal production from open at enhancing productivity and ensuring country’s energy security. Coal allocated under e-auction
helps gauge demand patterns and
develop effective production strategies.
cast mines million tonnes sustainable mining practices.
Highest-ever coal offtake We also cater to diverse industrial needs
Emphasizing sustainable mining
One coal mining project with a sanctioned beyond the regulated power sector and
practices and environmental concerns,
26.02
capacity of 20 Mty and a sanctioned capital supplied a record 134.4 million tonnes
we achieved a production increase of
1,964.14
of H 1783.09 crore was completed during to non-regulated sector (NRS) consumers
70.443 million tonnes (MT), marking a
the year 2023-24. The successful completion in FY 2023-24, the highest volume ever
10% growth over the previous year’s
production of 703.204 MTs.
million tonnes of this project not only adds to our recorded. The supply to NRS consumers
Coal production from million cubic metres production capacity but also demonstrates includes various industries such as
underground mines Overburden removal our ability to execute large-scale projects cement, steel, and other manufacturing
Production milestones
within the stipulated time frames. sectors, which rely heavily on coal for their
Mahanadi Coalfields Limited (MCL) We strive continuously to optimise our
production processes.
emerged as the highest coal-producing mining operations and maximise output
subsidiary for the financial year 2023-24, from both underground and open-cast
surpassing 200 MT for the first time. This
significant milestone indicates MCL’s
enhanced operational efficiency and Coal production Despatches of coal Capex investments
capacity expansion. The subsidiary’s (MT) (MT) (J crore)
achievement contributes substantially
to our overall production growth,
reinforcing our position as one of the
leading coal producers.
773.65 754.07 23,475.41
We aim to enhance offtake and wagon 695.13
662.57 18,619.27
loading capabilities to ensure that coal is 703.20
transported more efficiently to meet the 622.63 582.48 574.48
602.14 596.22 15,400.96
rising demands of various sectors. We
recorded a remarkable growth in offtake 13,283.83
as a result of improvement in logistical
efficiency and the effectiveness of our
supply chain management. An 8.5%
increase in coal offtake was achieved
over the previous year, setting new 6269.65
records in both offtake and wagon
loading performance.
2019-20 2020-21 2021-22 2022-23 2023-24 2019-20 2020-21 2021-22 2022-23 2023-24 2019-20 2020-21 2021-22 2022-23 2023-24
Coal bench in a coal mine
74 75
Corporate Overview
Advanced mining infrastructure
One Billion Coal Production Roadmap
In our pursuit of enhancing coal production to meet the country’s energy needs, we are embracing a comprehensive modernisation
As part of the Atmanirbhar Bharat initiative, India aims to increase efficiency, enhance productivity, and ensure sustainable strategy. This approach encompasses the adoption of modern equipment, advanced exploration and assessment techniques,
coal production to meet the country’s energy needs while reducing reliance on imports. In line with this vision, we have efficient mine planning and development, and optimised extraction processes. We are set to procure high-capacity equipment
set an ambitious coal production target of 1 billion tonnes (BT) by the financial year 2025-26 worth of more than J3700 crore in the next financial year. This investment is aimed at bolstering coal production capabilities for
modernisation and efficiency in the upcoming years.
Statutory Reports
• Introduction of Single Window • Expanding existing mines
Clearance for coal projects, (brownfield projects) Exploring new Mapping the
amendments to the Mines and
Minerals (Development and • Opening new mines frontiers with… mines with…
Regulation) Act, 1957 allowing (greenfield projects)
captive mines to sell up to 50% Geological surveys, drilling operations, and sampling Advanced digital mine planning techniques are utilised
• Deployment of Mine
of their annual production techniques form the foundation of our data-driven to determine production capacity, market demand,
Development Operators
approach. To enhance strata management, CIL has and geological adequacy. Tools like Minex, Surpac,
(MDOs) in greenfield
adopted state-of-the-art mechanisms such as scientifically MineSched, and MineScape are employed to enhance
and brownfield areas
en
determined Rock Mass Rating (RMR) based Strata Support process visibility and efficiency, ensuring that mine
i t i a ti v e s t a k
• Utilisation of Mine • Skill development initiatives Systems. This includes mechanised drilling for roof planning and development activities are conducted
St rat e g y
Development Operator (MDO) for the workforce to bolting, the need-based application of Resin Capsules with precision and foresight.
mode for production over Cement capsules, and the use of modern Strata
enhance competency
Monitoring Instruments as required. We are dedicated
…modern mine planning
• Adoption of mass • Mechanising and modernising to quality and safety with our established Strata Control and development techniques
y in
production technologies both underground (UG) and Cell and an accredited Rock Testing Laboratory in Nagpur.
Ke
open-cast (OC) mines

• Undertaking new projects and
expanding existing ones • Obtaining additional …cutting-edge exploration
environmental clearances
• Auctioning coal blocks to Image to Come
(ECs) of up to 50% through
techniques
private companies and PSUs special dispensation
for commercial mining.
• Improvement of evacuation
• 100% Foreign Direct efficiency and capacity through
Investment (FDI) has rapid implementation of First
Embracing technology with…
been permitted for Production projection for next 5 years
Mile Connectivity (FMC)
commercial mining activities (million tonnes) projects and rail lines.
To optimise coal production, we emphasise mechanisation, technology, and innovation. Long-term service contracts
are secured for equipment procurement and spare parts, ensuring operational continuity and efficiency. The focus
on standardisation, modernisation, and digital transformation of equipment and mines adds further efficiency to coal
1,055 1,090 extraction processes.
1,030
1,000
We focus on adopting state-of-the-art technology in suitable geo-mining locales. This includes the adoption of Mass
Production Technology (MPT) in more underground mines, the deployment of more surface miners to eliminate blasting
operations in Open Cast Mines (OCPs) for safer and eco-friendly operations, and the introduction of highwall mining
838
technology. Mechanisation of underground drilling operations for roof bolting, as well as the implementation of man-
riding systems for easing underground travel, are also key facets of CIL’s modernisation drive.
…modern mine planning

and development techniques
4584
2024-25 2025-26 2026-27 2027-28 2028-29
HEMM equipment
76 77
Corporate Overview
Expansion of coking coal washeries New ventures in coal beneficiation Enhancing coal quality Quality measures Coal transportation and logistics
We commissioned the operational In a significant move, we are diversifying management To mitigate quality concerns, various Our transportation infrastructure forms a vital network facilitating the movement of
Madhuband Washery of 5 MTY during our portfolio by setting up a non-coking To ensure customer satisfaction, significant measures have been implemented, such as coal from mines to diverse destinations. This network includes a variety of modes such
the year to further enhance coking coal washery at Ib Valley, Lakhanpur emphasis has been imparted on the selective mining by conventional modes to as railway lines, conveyor belts, trucks, and more, all designed to efficiently transport
coal beneficiation capacity. We are also in Mahanadi Coalfields Limited (MCL). quality management of coal throughout minimize shale/stone inclusion, adopting coal to power plants, industrial units, and other consumers.
setting up three new washeries in Bharat Additionally, we are exploring the the supply chain, from mining to dispatch proper blasting procedures to reduce coal
Coking Coal Limited (BCCL) with a total monetisation of four old washeries by admixture with overburden material, and Despatch by First Mile Connectivity
point. Recognising the paramount
Statutory Reports
throughput capacity of 7 MTY. Two of these leasing out the assets bundled with improving coal sizing techniques. To ensure a seamless transit process,
importance of coal quality to consumers, 52%
Rail -
washeries, with a capacity of 4.5 MTY, are long-term linkage of coking coal to particularly power utilities, MoC issued a we are enhancing our evacuation
• Installed electronic weighbridges at Road - 33%
currently under construction. Additionally, steel companies through auction. This Standard Operating Procedure (SOP) for infrastructure through new rail projects and
five coking coal washeries with a total innovative approach not only optimises
rail loading points, equipped with Merry-go-rounds - 14% mechanized coal loading under the First
third-party sampling. electronic printout facilities, to ensure
capacity of 14.5 MTY are being established asset utilisation but also leads to stronger Conveyors - 2% Mile Connectivity (FMC) projects. These
accurate weighment of coal dispatches. 2%
in Central Coalfields Limited (CCL). partnerships within the industry. On behalf of MOP, PFC has empanelled 14% initiatives are expected to significantly
Standby weighbridges have been
ten third-party sampling agencies (TPSA(s)) installed to ensure 100% weighment, increase mechanized evacuation capacity
where by the consumers are free to take further enhancing accuracy and from 151 million tonnes per annum (MTPA)
services of any of the empanelled TPSA(s). to 988.5 MTPA by the financial year 2029-
2.26
reliability in coal dispatches.
30. The implementation of FMC Projects
Additionally, CIL has also empanelled • Auto Mechanical Samplers (AMS) at Silo 52%
is anticipated to improve coal quality,
two TPSA(s) for undertaking the job of loading points have been deployed to
million tonnes sampling and analysis of coal samples at automate the coal sampling process,
reduce under-loading charges, and have
a positive impact on the environment.
Total washed coking coal production loading end in CIL subsidiaries for NRS. reducing human intervention and
ensuring representative sampling.
It is aimed to ensure the delivery of Procurement of additional AMS units
right quality of coal to our customers is underway to expand this automation 33%
and therefore, follow stringent quality across operations.
control measures from mining to dispatch
• As part of quality monitoring efforts, Eliminates over
of coal. The Third-Party Grade conformity a pilot project for the installation of or under loading
has improved to 76% during FY 2023-24 online analysers has been completed charges at
as compared to 70% during FY 2022-23. at Mahanadi Coalfields Limited Provides direct railway sidings Reduces
(MCL) and is underway at Northern economic benefits transportation costs
Coalfields Limited (NCL) to assess the by generating income from the coal
feasibility of monitoring coal quality face to railway
for labourers
at dispatch points. sidings
Coking coal Non-coking coal Total and villagers
Through these conscious and continuous
measures, we have effectively maintained Decreases diesel
coal quality standards, as evidenced by the Contributes to
consumption and
minimal variation between the weighted a reduction
FMC costs associated with
Coal washeries 10 2 12 in CO2
average of declared Gross Calorific pay loader and
Value (GCV) and the analysed GCV of emissions
Operable tipper operations
washing capacity 18.35 MTY 11 MTY 29.35 MTY coal samples. To address consumer
complaints and enhance satisfaction,
we have implemented online filing and
Reduces the Reduces road
redressal of complaints. Special emphasis
turnaround time maintenance costs
has been placed on quality management
of rakes, leading due to fewer trips
and resolving consumer grievances
to better availability and coal spillage
promptly and effectively. Improves the
for coal evacuation
quality of
dispatched coal
Under CIL’s flagship FMC projects, 75 initiatives with a combined capacity of 837.5
MTPA have been identified. These projects involve an estimated investment of about
H 24,750 crore and will be implemented in four phases. The upgrades will revolutionize
mechanized coal transportation and loading systems, enhancing efficiency.
Dumper unloading coal in the stock yard
78 79
Corporate Overview
Facing the challenges of a rapidly evolving global energy landscape, we are diversifying into the emerging battery
materials sectors—lithium, nickel, cobalt, and graphite. Leveraging our mining expertise, operational footprint, and financial
Phase Number of Total capacity Estimated Status Target resources, we aim to capitalize on these opportunities and establish ourselves in the battery materials value chain, offering
projects (MTPA) investment (J crore) completion new revenue streams and enhancing long-term resilience and competitiveness.
15 Projects commissioned,
Phase I 35 414.5 10,750 18 Projects under FY 24-25 Minerals used in clean energy technologies compared to other power generation sources
construction (kg/MW)
Construction started in 7 Projects,
Statutory Reports
0 2500 5000 7500 10000 12500 15000 17500
Phase II 9 57 2,500 2 Pr o j e c t s under FY 25-26
Offshore wind
formulation and approval
Onshore wind
1 Project completed,1 Project Solar PV
construction started, 2 Projects
Nuclear
Phase III 17 292 11,500 under tendering, rest in FY 28-29
Coal
formulation and approval
Natural gas
1 Project under tendering,
14 74 3,000 rest in formulation FY 29-30
Copper Nickel Manganese Cobalt Chromium Molybdenum Zinc Rare earths
Phase IV and approval Silicon Others
Source IEA Energy
Rail Connectivity
Project Tori-Shivpur Jharsuguda-Barpali- of Lingaraj SILO Synergies
Rail infrastructure New BG Line Sardega New BG Line with Deulbeda Siding
We have strategically identified

seven key railway projects
to enhance coal evacuation Mining operations and workforce
Double line
capabilities. Out of these, three Single line covering Rail connectivity of
Scope s p a n n i n g We can adapt our established mining
projects were funded directly 52.41 kilometers 4.8 kilometers line 1 operations, infrastructure, and skilled workforce Benefits
44.37 kilometers
by CIL on a deposit basis, while for extracting and processing these minerals.
four were financed through Commissioned Commissioned Commissioned
Status
joint ventures (JVs) or special in December 2019 in April 2018 in May 2021
purpose vehicles (SPVs). Logistics and supply chain management
Facilitates the Enhances evacuation Facilitates the Our experience in logistics and supply chain
evacuation of capacity to approximately evacuation of about 2 Diversifying into critical minerals reduces dependence
management ensures efficient delivery of 1
a p p ro x i m a t e l y 65 MTPA with ongoing 5 MTPA of coal from on coal, addressing environmental concerns and market
materials to markets.
100 million tonnes construction of loading Talcher Coalfields of volatility.
per annum (MTPA) bulbs at Barpali and Mahanadi Coalfields Opens access to global markets for lithium-ion batteries,
2
of coal from the a flyover complex at Limited (MCL) electric vehicles, and renewable energy storage, providing
Government and institutional relations
North Karanpura Jharsuguda diversified revenue streams.
Existing relationships with government agencies
coalfield of Central 3 and research institutions facilitate necessary Utilizes our mining, logistics, and project management
Coalfields Limited 3
Impact approvals, permitting, and technical support. expertise to establish a presence in new sectors, creating
(CCL)
synergies with current operations.
4
Strengthens our position by capitalizing on demand for
Financial strength
critical minerals, reducing coal market risks, and exploring
Strong financial position and access to capital new growth avenues, improving financial performance
4 enable investments in exploration, development, and shareholder value.
and processing facilities.
Market understanding
Deep understanding of the Indian energy
5 and industrial landscape aids in expanding
into markets for lithium-ion batteries, electric
vehicles, and renewable energy technologies.
Day time view of Silo and Bunker and transportation of Coal through Rail
80 81
Corporate Overview
What we How we
strive deliver
Statutory Reports
for this
• Pr o m o t e sustainable • Reclaim mined areas

mining practices and and conduct extensive
environmental conservation. plantation drives.
Capital
• Achieve reductions in • Utilise renewable energy sources
specific energy consumption to reduce carbon footprint.
Natural
and enhance water
recycling initiatives.
What we
Recognizing our role in the environment, achieved

we are committed to responsible
stewardship of natural resources. Our
operations are designed to minimize Reduced specific energy Implemented comprehensive
environmental impact through
water
consumption and
sustainable practices and innovative
solutions. Natural Capital involves the increased use management
resources we use throughout the mining of renewable and reclamation initiatives.
lifecycle from water and land to energy energy.
and biodiversity. By implementing
rigorous environmental management
practices, we aim to reduce our
SDGs Aligned ecological footprint, promote resource
efficiency and engage in activities such as
reforestation and habitat restoration. This
ensures that while we meet the nation’s
energy demands, we also contribute to
environmental sustainability.
82 83
Natural Capital
Corporate Overview
Environmental monitoring
We have adopted a comprehensive
Aligning with Mission LiFE
strategy aimed at ensuring minimal
environmental impact through rigorous We are committed to embracing Mission LiFE (Lifestyle for Environment), an innovative initiative launched by the
monitoring of mining activities. By Government of India to promote sustainable practices and collective action for the planet’s well-being. Mission LiFE
leveraging advanced technology and underscores the critical need for adopting environmentally friendly lifestyles, inspiring individuals and communities to
robust systems, we are committed to
Statutory Reports
make conscious choices that promote environmental health and sustainability.
maintaining safety and ecological balance
within our mining operations.
Key actions include:
ISO 14001:2015
Certified for Environment
Management System
Bird’s eye view of Kenapara Eco-tourism site
1 5
Monitoring mechanisms
Objective Mechanism Outcome

2 4
Ensure the safety and Multi-gas d e t e c t o r, Early detection and management
health of mine workers by Methanometer, CO-detector of gas concentrations to prevent Implementation of LED 3 Installation of rainwater
detecting hazardous gases. accidents and health risks. lighting systems to reduce harvesting systems to
energy consumption conserve water resources
Continuously monitor the Environmental Tele-Monitoring Real-time data collection for

Adoption of electric Deployment of solar
mine environment to promptly System (ETMS), Local proactive management and response
vehicles (EVs) energy systems to
address any issues. Methane Detectors (LMD) to environmental changes.
to lower carbon harness renewable
emissions energy
Systematically assess the quality Gas Chromatograph Accurate assessment of air quality to
of mine air to ensure a safe maintain safety standards.
working environment.
Focus on biodiversity conservation through
projects like Amrit Sarovar and extensive
plantation drives to enhance green cover and
Monitor and control dust levels Personal Dust Sampler (PDS). Reduction of dust exposure,
contribute to carbon sequestration.
to protect worker health. ensuring compliance with health
and safety standards.
Ambient Air Quality Monitoring Continuous Ambient Air Quality Effective management of
Scan the QR code for
Monitoring System (CAAQMS). ambient dust levels to mitigate
Mission LiFE
environmental impact.
84 85
Natural Capital
Corporate Overview
Reclamation and restoration Our reclamation and restoration Enhancing ecosystems
efforts are supported by significant
Our sustainable mining practices Our biodiversity initiatives extend beyond
financial investment and thorough
revolve around a robust reclamation and reclamation. Under the Green Credit
planning. We allocate substantial
restoration strategy. During opencast Program launched by MOEF&CC, we
funds for mine closure activities each
mining, the overlying soil and rocks, have undertaken extensive plantation
year. Concurrent reclamation and
known as overburden (OB), are typically projects on degraded forest lands across
rehabilitation of mined-out areas are
removed to access coal. Historically various states. These efforts are bolstered
Statutory Reports
2,167.61
vital components of our strategy.
viewed as waste, we have reimagined OB by scientific studies from the Forest
as a valuable resource, processing it into We preserve and store topsoil, using Research Institute (FRI), which guides our
sand through our newly commissioned
OB-to-sand plants. This innovation not
it for plantations in opencast mines bio-reclamation activities. Together, we
have developed numerous eco-restoration
Ha
to promote land reclamation. Our Area covered by saplings
only addresses waste management but vegetation cover mapping, conducted sites, transforming disturbed lands into
within and outside mine
also contributes to the circular economy by regularly using satellite data, helps thriving ecosystems. leasehold
supplying overburden as filling material. monitor and manage biodiversity
32
Eco-restoration involves selecting
across major coalfields. In the latest
suitable plant species for afforestation
phase, we completed mapping for
based on a three-tier plantation concept,
Responsible mine closure several coalfields, ensuring that our Eco-parks and eco-
ensuring the restoration of ecological
restoration efforts are scientifically restoration sites
Our focus on sustainability is further balance. Our collaboration with FRI has
guided and effective.
evident in our comprehensive Mine led to the creation of lush green belts
Closure Plan (MCP). Prepared by and biodiversity hotspots within our
K127.77 crore 248.65

CMPDIL, the MCP is an integral part operational areas.
of our Project Report and aligns with
the Environmental Impact Assessment
Eco- park development
Ha
44.40
(EIA) and Environmental Management
Utilised for mine closure Area covered by grassing
Plan (EMP) approved by the Ministry activities. One of the highlights of our reclamation
of Environment, Forest and Climate efforts is the development of eco-parks
Change (MOEF&CC). This progressive lakh
7
on reclaimed land. We have established
plan ensures that our mining activities many eco-parks and eco-restoration sites, Saplings planted
are closed responsibly, safeguarding the including notable ones like Kalidaspur
environment and communities. Bio-diversity Park (ECL), Parasnath Udyaan
Coalfields underwent
vegetation cover mapping (BCCL), Bishrampur Tourism Site (SECL),
and others. These parks are not only
green oases but also serve as community
spaces, promoting environmental
awareness and offering recreational areas
for local residents.
Our tree plantation programs are

extensive and impactful. Each year, our
subsidiaries undertake massive plantation
drives, focusing on avenues, OB dumps,
mine peripheries, residential colonies,
and available government land. We
plant millions of saplings, covering vast
areas and conducting grassing over
additional hectares. These efforts have
significantly enhanced green cover,
improved air quality, and contributed to
carbon sequestration.
Development of Hathinala Biodiversity park
86 87
Natural Capital
Corporate Overview
Managing water resources
Water management is a crucial aspect
Strengthening water safety
management
Mine discharge treatment and
utilisation 2,591.42 lakh KL
water was shared with nearby community for domestic and irrigation
of our mining operations, and we are Mine Discharge Treatment Plants
(MDTP) are installed at our mines to purpose benefiting more than
11.62 857
committed to ensuring sustainable
practices wherever possible. Our mines treat discharged mine water on the
operate on a zero-discharge basis, with surface. The treated water is then used lakh people in villages.
mine discharge water stored in large for various purposes such as dust
Statutory Reports
sumps that act as water harvesting suppression, firefighting, plantation,
structures. This helps conserve water and washing. Additionally, treated mine
and reduce our environmental footprint. water is supplied to nearby villages
for drinking and irrigation, addressing Amrit sarovar initiative
local community needs.
As part of our commitment to sustainable water management, we are
Continuous monitoring and
153
developing Amrit Sarovars in mine voids and other available water bodies
compliance
within the command area of CIL. These Sarovars fulfill the water requirements
Regular monitoring of mine, of the local population and also act as water harvesting structures, contributing
workshop, and domestic effluent
Effluent Treatment Plants to groundwater recharge.
is carried out as per regulatory (ETPs)
requirements, and necessary actions
are taken to ensure compliance and Pr e p a r i n g Ensuring Monsoon Maintaining
environmental protection. and maintaining a
seam-wise Water
Action Plan for
readiness and
a d e q u a t e
pumping facilities 61
396
Danger Plan to safety during heavy with sufficient
manage water risks rainfall seasons. sump capacities Sewage Treatment Plants
effectively. to manage water (STPs)
Water meters installed discharge.
Creating social value through water

Groundwater monitoring and management
recharge
Our water management initiatives not
To assess the impact of mining only benefit our operations but also create
activities on groundwater, we monitor social value. By providing treated mine
groundwater levels in dug wells and water to nearby communities, we help
piezometers in and around the mine improve access to water for drinking and
leasehold area. We also undertake irrigation. Our efforts in groundwater
initiatives for groundwater recharge recharge and rainwater harvesting support Compensatory Afforestation
within mine premises and nearby the local ecosystem and contribute to
villages, including rainwater harvesting, sustainable water management practices.
digging ponds, developing lagoons, We ensure that the supply of water is
and desilting existing ponds and tanks. done after proper treatment. Several
90.03% 9.97%
To date, we have constructed numerous RO plants and pressure filter plants are
rainwater harvesting structures to operational in the coalfields, catering not
enhance groundwater recharge. only to our employees but also to the
Conducting Constructing Conducting Conducting
neighboring population. Discharged mine water Retained for future use and
with the State embankments joint surveys regular check
Meteorological against water between adjoining surveys and utilised for internal and ground water recharging
community use
Department and bodies to prevent mines to verify joint surveys to
Dam Authorities for flooding. inter-mine barriers. eliminate errors
54.57 LKL
timely information in mine surveys.
and action.
Mine water supplied to nearby

community from voids of coal
mines
88 89
Natural Capital
Corporate Overview
Strategy for cleaner air Energy efficiency Advancing towards carbon
Air quality is a significant concern for our mining operations, as improper control can lead to emissions that pose risks to human We have implemented a comprehensive range of energy efficiency measures that
neutrality
health and the environment. Potential impacts extend beyond the mine boundaries, affecting surrounding communities. We aim have led to substantial reductions in energy consumption and CO2 emissions. This We are steadfast in our pursuit of carbon
to minimize disturbances to neighboring communities and the environment from air pollutants. We focus on reducing air quality year, we surpassed our CO2 reduction target by achieving a reduction of 1,05,319 neutrality, leveraging solar projects and
impacts through specific management plans and continuous monitoring throughout the mine’s lifecycle. tonnes, which is 167% of the estimated target of 62,902 tonnes. Our measures include energy efficiency measures to significantly
the use of energy-efficient technologies and practices across our operations, such as reduce CO2 emissions. By harnessing the
the installation of LED lights, energy-efficient air conditioners, water heaters, super power of the sun, we are significantly
Statutory Reports
910 nos.
Controlling air pollution Dust control measures
fans, and motors. Additionally, the deployment of electric vehicles and the use of reducing our reliance on non-renewable
To mitigate air pollution, we have To control and reduce dust generation auto timers in street lights have further contributed to reducing our carbon footprint. energy sources, thereby lowering our
installed Continuous Ambient Air Quality during drilling, blasting, loading, and carbon footprint and contributing
Monitoring Systems (CAAQMS) for real- coal transportation, we have developed Mobile water sprinkler tankers to a cleaner environment. The solar
time monitoring and integrated them a windbreaker system, vertical greenery, energy initiatives involve installing
with the Central Pollution Control Board and green belt plantations. Mist spraying ISO 50001:2018 solar panels across various facilities,
(CPCB) and State Pollution Control systems, mobile water sprinklers, and ensuring a consistent and sustainable
49 nos.
Certified for Energy Management System
Board (SPCB) servers where available. automatic sprinklers are used extensively. source of clean energy. These projects
Additionally, PM10 analyzers have We have also deployed additional not only help in reducing greenhouse
been installed for real-time monitoring surface miners and continuous miners gas emissions but also promote energy
Road sweeping machines Energy efficiency measures FY 2023-24
of particulate matter concentrations in opencast and underground mines for independence and security.
have been deployed
in ambient air. Additionally, to control blasting-free coal extraction. We operate
noise pollution, we maintain equipment a fleet of mobile water sprinkler tankers Led lights Electric vehicles
properly, develop green belts around and fog cannon sprinkling systems installed deployed
mines and residential areas, schedule to suppress dust. 1,12,112 151
blasting during daytime, and use ear
protection devices in noisy areas.
Auto timers in Energy-efficient
street lights ACs installed
1,316 1,968
80 Energy-efficient Capacitor
CAAQMS Bank for PF
water heaters
improvement
202.19
installed
(KVAR)
97
402
20,775
lakh
PM10 analyzers Super fans Energy-efficient units Solar energy generated
installed motors replaced in FY 2023-24
43,407 330
First Mile Connectivity
We have implemented First Mile
Connectivity to reduce coal transport
by road. This involves using conveyors,
covered trucks, and loading coal
into railway rakes through silos.
We also blacktop and repair coal Outcomes of energy efficiency measures
transportation roads and strengthen haul Reduction in
16,580
roads to reduce dust.
Annual Energy savings of Annual Energy Saving of Reduced CO2 emissions
128.44 40.38 by
33,108
tonnes of CO2 emissions
million million
kWh (units) since 2021-22 units in 2023-24 tonnes
20 MW Ground Mounted Grid connected Solar Power Plant per annum in FY 2023-24
90 91
Corporate Overview
What we How we
strive deliver
Statutory Reports
for this
• Foster innovation and • Collaborate with

technology adoption. research institutions
for eco-restoration and
• Implement integrated project
Capital
environmental management.
monitoring systems.
• Develop new
Intellectual
technology projects to
advance mining processes.
What we
Our industry expertise and commitment achieved

to innovation drive our success in an
evolving energy sector. Intellectual
Capital comprises our extensive Successfully implemented an Collaborated with premier
knowledge base, research capabilities, integrated project research institutes for
and the integration of cutting-edge
technologies into our operations. m o n i t o r i n g sustainable
We continually invest in research and system. practices.
development to enhance our mining
techniques and optimize processes.
This intellectual prowess not only
strengthens our operational efficiency
SDGs Aligned but also positions us at the forefront of
industry advancements. By leveraging
our intellectual resources, we strive to
excel in the mining industry, optimise
operations, and contribute to its overall
advancement.
92 93
Intellectual Capital
Corporate Overview
Harnessing technology for Streamlining measurement and billing Enhanced auction approach
operational excellence processes
In line with our commitment to
We have developed an in-house e-MB transparency and efficiency, we have
Transforming operations with ERP
We strive to be at the forefront of
embracing technology to enhance and e-Billing Portal with a seamless two- implemented a Single Window Mode
Challenge
our operational efficiency and safety way interface with our ERP system. This agnostic e-auction policy across all coal Outcomes
standards. Various IT initiatives, such portal enables the entry, checking, and companies. Since March 1, 2023, all Prior to implementing the ERP system,
as the Global Positioning System (GPS) acceptance of all types of measurements e-auctions have been conducted on the we faced numerous challenges The implementation of the ERP system brought about significant improvements
Statutory Reports
based Vehicle Tracking System (VTS) in a secure environment. It offers better in-house CMPDIL-NIC portal. Continuous in managing our operations. The in our operations. The system provided a single, reliable source of information
with geo-fencing, Radio-Frequency tracking through movement logs, ensures improvements are being made to the company relied on multiple, disparate for all critical operations, improving data accuracy and reducing inefficiencies.
Identification (RFID) based Boom barriers accuracy in computation, and enhances auction process based on customer data sources, leading to inefficiencies
Systems, and CCTV based e-monitoring transparency in the existing process. feedback, ensuring a user-friendly and data discrepancies. Decision-
experience for all stakeholders. making processes were hindered by 1 2
systems, have been implemented across
CIL subsidiaries. These initiatives are the lack of real-time data and manual Real-time insights from the Furthermore, the ERP system was
aimed at improving monitoring and processes. Additionally, there was a ERP system enabled informed enhanced with alert features,
security at critical locations such as lack of visibility into critical operations, decision-making, leading to triggering email notifications based
weighbridges, central stores, railway making it challenging to identify areas enhanced operational efficiency on key performance indicators (KPIs)
sidings, and coal heaps. for improvement and optimization. and resource utilization. for each module. This proactive
approach to monitoring and
To ensure seamless implementation and management further improved
monitoring of these IT initiatives, standard operational efficiency.
operating procedures (SOPs) have been
established at the apex level. These
ERP solution
SOPs are rigorously enforced across all To address these challenges, we 3 4
subsidiaries to ensure uniformity and implemented an SAP ERP system.
The ERP system has also enabled The integration of the Hospital
adherence to best practices. The system integrated various
effective asset management, Management System (HMS) with
modules, including Production,
providing better visibility into spare the ERP system also played a
Inventory Management, Equipment
inventory and enabling efficient crucial role in streamlining patient
Status, and Workforce Details, into
Advancing safety standards through stores management. Additionally, management processes across
a single, cohesive platform. This
online monitoring it has optimised human resource our hospitals. This integration
integration streamlined operations
utilisation through the optimal improved patient care and
As part of our commitment to safety, we and provided a centralized source of
deployment of manpower. operational efficiency, benefiting
have introduced several online monitoring real-time data for decision-making.
employees, their dependents, CSR
portals to enhance safety inspections The implementation process involved
beneficiaries, and outsiders.
and initiatives. These portals include the extensive training and adaptation
e-Accident Analysis portal, e-Inspection efforts to ensure a smooth transition
portal, e-Safety Audit portal, e-Statute to the new system.
Compliance portal, and e-SMP portal.
These platforms provide a digital platform

for recording details and monitoring
compliance with safety observations
made during inspections and audits.
The objective is to uphold safety
standards and ensure a progressive safety
culture in all subsidiary mines through
improved monitoring and management
of Action Taken Reports.
CIL workers in UG mines Integrated Command and Control Centre at WCL Headquarter
94 95
Corporate Overview
Digitalisation in mining Research and development Organisational structure To facilitate knowledge sharing and
In an era where efficient and sustainable resource extraction is paramount, we have adopted a range of advanced tools and
(R&D) Heading CIL’s R&D activities is the
promote transparency, CMPDI has
developed a dedicated website (https://
methodologies to enhance exploration, planning, and operational efficiency. These technological advancements not only Our R&D efforts are strategically R&D Board, led by the Chairman of
scienceandtech.cmpdi.co.in) that
optimise resource utilization but also ensure environmental stewardship, safety, and cost-effectiveness. focused on various critical areas aimed CIL, overseeing and approving all R&D
serves as a comprehensive platform for
at enhancing operational efficiency, projects. To ensure efficient decision-
disseminating information related to R&D
Seismic survey Remote sensing and GIS Digital mine planning promoting environmental stewardship, making, an Apex Committee operates
projects in the coal sector.
and exploring alternative uses of coal. under the R&D Board. The Central Mine
Statutory Reports
It uses acoustic waves to explore It enhances mineral exploration by It uses advanced software to create
Planning and Design Institute Limited
underground geological formations. providing comprehensive data on Earth’s detailed 3D models from exploration Our R&D initiatives encompass a wide (CMPDI), CIL’s consultancy arm, serves
Vibrators or explosives generate shock subsurface. Satellites equipped with data. These models are crucial for array of focus areas, including: as the nodal agency for coordinating and
waves that travel through the ground, multispectral and hyperspectral sensors efficient mine planning and operations,
implementing R&D initiatives.
reflecting off different formations. These capture data used to identify mineral ensuring accuracy and reproducibility in • Improving techniques
waves are captured by geophones and deposits, while GIS integrates spatial and mining activities. for more accurate and
processed using advanced software for attribute data for detailed analysis. efficient coal exploration. Collaborations with Academic &
detailed subsurface mapping. Software used: Minex, Dassault’s Geovia Research Institutions:
Method: Uses satellite sensors to detect Minex, Carlson, Datamine, Maptek Vulcan. • Developing technologies Intellectual property and innovation
Presently, reputed institutes like IITs, NITs,
Method: Acoustic waves generated by minerals based on spectral signatures. for harnessing Coal Bed Through our ongoing research projects,
Data collection: Uses CAD tools IISC, Bangalore, CSIR labs like CIMFR,
surface vibrators/explosives. Methane (CBM) and Coal we continue to generate intellectual
Data collection: Combines maps, satellite and drone-based LiDAR/TLS Dhanbad, NML, and coal-producing
Mine Methane (CMM) as property in the form of new products,
Data collection: Geophones capture imagery, and geological data for analysis. surveys for surface data. companies are actively participating in
alternative energy sources. processes, and systems. To safeguard
reflected waves at 5-10 meter intervals. R&D endeavour of CIL. Some reputed
Applications: Mineral mapping, alteration Applications: Opencast and these innovations, we utilise Intellectual
• Advancing coal gasification global institutions like CSIRO, Australia;
Software used: zone detection, borehole optimization, underground mine planning, digital Property Rights (IPRs) agreements
technologies to produce clean EETI, Canada; University of Wollongong
PARADIGM, LANDMARK, ProMAX. vegetation analysis, terrain modeling, geological and mining models. with implementing agencies. Patent
energy and valuable by-products. Northfields Ave, Australia etc., are also
lithological and geological mapping. applications are regularly filed to protect
participating in R&D activities for CIL.
Output: Continuity, layout, and • Enhancing processes to increase these assets, ensuring their exclusivity and
disposition of formations like coal seams, the efficiency of coal beneficiation CIL has Collaboration with IIT (ISM) for ‘CIL continued innovation in the coal sector.
faults, and dykes. and exploring new applications Innovation and Incubation (CII) Centre’
for coal utilisation. under NITI Aayog’s flagship program-Atal
innovation Mission (AIM).
• Innovating to optimise production
processes and enhance
mining productivity.
• Developing advanced
safety technologies and
Advantages Advantages Advantages protocols to ensure a secure
working environment.
• Efficient and cost-effective than • Optimises borehole placement • Accurate planning
traditional methods and reduces exploration costs. and operations based • Implementing solutions to minimise
on detailed models. the environmental impact of coal
• Optimised borehole placement • Enhanced targeting as it
reduces exploration costs combines data to identify • Streamlines mine planning mining and utilization.
prospective regions. processes for efficiency.
• Fault detection helps identify • Exploring ways to extract value from
and map geological faults • Environmental monitoring • Enhances safety by providing coal mining by-products.
to assess the impact of detailed underground models.
• Detailed geological • Promoting innovation and
mining activities.
data provides data at • Ensures mining plans can be indigenous development
5-10 meter intervals • Resource estimation for accurate easily reproduced as needed. of technologies relevant
calculation of mineral resources. to the coal sector.
• Permanent seismic data
can be reprocessed for • Visualization of detailed 3D
various future objectives models for better understanding.
Self-Advancing Goaf Edge Support (SAGES) currently under trial at

Churcha Underground Mine, SECL
96 97
Corporate Overview
Advanced security Advancing research and development in coal mining
infrastructure Our R&D efforts are not only geared towards optimising operational efficiency but
Digital platforms drive our operational also towards mitigating environmental impact and promoting sustainable practices.
efficiency and communication, and From innovative solutions for hazard prevention and air quality management to the Environmental impact and sustainability
safeguarding data privacy and development of advanced mining techniques and renewable energy technologies,
security is paramount. We protect we are committed to reshaping the future of coal mining in India. Air quality modeling Perovskite solar modules Fine particle recovery
sensitive information, including
Statutory Reports
18 22
Predicting particulate matter and gaseous Indigenous development of monolithic Separating and recovering fine
customer and financial data, through
pollutant concentrations using advanced perovskite modules using advanced particles from coal washery effluents
robust security measures.
modeling techniques like Artificial Neural printing technologies. This innovation aims using bio-coagulants. This eco-friendly
Ongoing R&D projects Ongoing S&T projects Networks (ANN), Probabilistic Neural to enhance solar energy efficiency and approach reduces water pollution
Multi-layered protection Networks (PNN), and Classification and reduce manufacturing costs, supporting and optimizes resource utilization
Regression Tree (CART). India’s renewable energy goals. in coal processing.
Our database, protected in a high-
security zone, utilizes encryption and
CO2 conversion Water management Perovskite-silicon tandem modules
rigorous access controls. Secure data
transmission is ensured via a private Scaling up CO2 conversion technologies Developing guidelines for delineating Developing bi-facial perovskite
Multiprotocol Label Switching (MPLS) Enhancing safety and efficiency to produce methanol and other valuable water-stressed areas and designing modules leading to 4-T perovskite-
Virtual Private Network (VPN), keeping chemicals, with a capacity of 500 Kg CO2/ environmentally friendly water storage silicon tandem structures. These
data within our internal network and day. This initiative promotes sustainable structures. This supports sustainable advanced solar technologies
safe from public network exposure. Explosion hazard prevention Smart protective devices practices by transforming greenhouse water usage in mining operations, enhance energy conversion
In partnership with a cloud service gases into useful products, contributing addressing local water scarcity efficiency, contributing to
We are developing guidelines to mitigate Designing knee and spinal protective
provider, we deploy firewalls, to environmental conservation efforts. challenges and ensuring long-term sustainable energy solutions.
explosion hazards in Indian coal mines devices equipped with smart technologies
endpoint security, Web Application environmental stewardship.
through rigorous risk assessment to enhance miner safety and health.
Firewall (WAF), and Distributed and explosibility determination. These devices monitor vital signs and
Denial-of-Service (DDoS) protection This includes implementing a risk- environmental conditions, ensuring
to fortify our security infrastructure. based mine emergency evacuation proactive safety measures in hazardous
and re-entry protocol, ensuring safer mining environments.
Encryption is applied across all
working conditions and emergency
organizational data to protect
response strategies. Cyber-physical systems
against unauthorized access. We
have agreements in place to handle Implementing real-time, energy-efficient
Virtual reality mine simulator (VRMS) Improving resource efficiency
potential data breaches, and our cyber-physical systems for monitoring
secure Application Programming By simulating realistic mining scenarios, mine slope health. These intelligent
VRMS enhances safety protocols and systems enhance operational safety Coal beneficiation and machine activities in mines. This Underground coal gasification (UCG)
Interfaces (APIs) for data integration boosts productivity by allowing miners by providing real-time data on slope Upgrading high-ash Indian coal through
system enhances safety, efficiency, and
Conducting a pilot project to establish
with external stakeholders to practice emergency responses stability, mitigating risks associated with physical and chemical beneficiation
decision-making processes by providing
Underground Coal Gasification
are equipped with strong and operational procedures in a geological hazards. real-time data on operational conditions.
processes. This research enhances the (UCG) technology in Indian mining
security measures to ensure virtual environment. quality and efficiency of coal utilization, conditions. This initiative explores
safe data exchanges. Pillar extraction optimisation improving overall energy output and Innovative extraction techniques alternative energy sources and
Geo-technical stability reducing environmental impact. Introducing a tandem approach for Paste enhances energy security through
Assessing safe parting thickness and
Innovative forensic investigations are optimal support requirements for pillar Fill Technology and continuous miner (CM) innovative extraction methods.
underway to stabilise foundation soils extraction under soft cover conditions. Highwall mining deployment at Shyampur B Colliery. This
prone to expansion. This includes This research ensures safe and efficient Assessing the feasibility and designing innovation optimizes mining processes,
implementing ground improvement mining practices, minimizing risks layouts for highwall mining operations. improving operational efficiency and
technologies, ensuring stable associated with geological instability. safety in underground coal extraction.
This innovative approach maximizes coal
overburden dump heights critical for recovery from challenging geological
safety and operational efficiency in formations, improving overall mining 5G network implementation
mining operations. efficiency and resource extraction. Establishing a captive non-public 5G
network for integrated voice, video, and
Integrated monitoring systems data communication in open-cast coal
mines. This technology facilitates seamless
Developing an integrated system for
connectivity and enhances operational
monitoring and controlling both human
Dry beneficiation of non-coking efficiency in remote mining environments.
coals from Talcher and lb Valley MCL
98 99
Corporate Overview
What we How we
strive deliver
Statutory Reports
for this
• Ensure workforce well-being • Provide continuous training

and skill development. programs to enhance employee
skills and safety.
• Maintain a skilled workforce
Capital
with ongoing training and • Implement health initiatives
development programs. and safety measures to ensure
Human
workforce well-being.
What we
Our dedicated and skilled workforce is achieved

the engine behind our achievements.
We place a high value on creating
an inclusive and supportive work Reached a significant portion Enhanced employee
environment that fosters professional
engagement
of the workforce through
growth and personal well-being.
Human Capital represents the collective training and and welfare
talent, expertise, and innovation of our development programs.
employees. By providing continuous programs.
learning opportunities and promoting a
culture of collaboration and respect, we
ensure that our team is well-equipped
SDGs Aligned to tackle challenges and drive our
strategic goals. Our focus on employee
development and engagement not only
enhances productivity but also reinforces
our commitment to meeting the nation’s
energy requirements effectively and
sustainably.
100 101
Human Capital
Corporate Overview
Ensuring health, safety, and Comprehensive health and wellbeing Our medical infrastructure Life of employees and their family members in CIL and its subsidiaries
wellbeing programmes
Our objective is to create a secure and

supportive work environment where every
individual feels valued and protected. We
We are dedicated to providing extensive
medical care to employees and their
families. Our network of medical facilities
360
Dispensaries
believe that all workplace accidents are ranges from dispensaries to central and
preventable, and industrial health hazards apex hospitals located in various coalfields.
Statutory Reports
can be managed through planning,
comprehensive training, and the provision
of appropriate equipment. By prioritising
For specialised treatments that cannot be
provided in-house, employees are referred
to empanelled hospitals.
70
Hospitals
these areas, we aim to cultivate a culture
of safety and wellbeing across all levels
of our organisation.
4,318
Hospital beds
1,067
Doctors
Nigahi Township, NCL
511
Ambulances
Jute Bag distribution during Swachhta Pakhwara
Medical camp organised by MCL

Celebration of Independence Day by Children Cultural event at CIL Rohini
of Employees at CIL Residents’ Welfare Society
102 103
Human Capital
Corporate Overview
Rigorous occupational safety measures Specialised training and safety Promoting human rights
management
We are dedicated to upholding human rights, fostering inclusivity, and maintaining a fair and safe working environment for all
Our training programmes cover a wide employees. We comply with all relevant acts and regulations and ensure that employees are aware of their rights through the
Safety policies and training Safety inspections and Emergency preparedness
range of safety topics, including risk distribution of abstract copies of these acts. Our commitment to human rights and inclusivity reflects our aspiration to be a model
audits
Our “Occupational CIL has a comprehensive management, emergency response, and employer in the mining industry.
Health and Safety Policy” Regular inspections of Emergency Response and operational safety. Key initiatives include:
is carefully designed to our mining operations Evacuation Plan (EREP) in
Statutory Reports
safeguard the health and are conducted by trained place to manage mine
safety of all employees. professionals to identify emergencies. This plan
Overseen by our potential hazards and includes procedures for Developing site-specific
multidisciplinary Internal ensure compliance with the safe evacuation of Safety Management Plans (SMPs)
Safety Organisation (ISO), safety standards. Safety personnel, provision of through risk assessments.
this policy is implemented audits are performed first aid, transportation
across all subsidiaries. We across all producing mines arrangements, and
conduct regular safety to assess and improve medical treatment. Conducting safety audits
training programmes, safety measures. We have Regular mock drills are and toolbox safety talks to identify
including initial and developed e-safety audit conducted to test and and mitigate hazards.
refresher courses, on-the- and e-inspection portals to enhance the effectiveness
job training, and simulator monitor safety compliance of our emergency
training for heavy earth- effectively and efficiently. response protocols. Formulating Principal
moving machinery (HEMM) Hazards Management Plans (PHMPs)
operators, to enhance to avert major accidents.
safety awareness and
operational skills.
Offering personal safety
counselling and employee
assistance programmes to address
individual safety concerns.
Celebration of Women’s Day with sports event at CIL (HQ)
Implementing Standard
Operating Procedures (SOPs) tailored
to dynamic mine conditions.
Advanced training techniques

Simulation-based training is a crucial
component of our safety training
strategy, with several simulators
deployed across subsidiaries. We
also produce and share video clips
and animation films on mine safety
procedures to reinforce safety practices
and awareness among employees.
Yoga day at NCL Painting competition at CIL Hq Medical camp organised by CIL
104 105
Human Capital
Corporate Overview
Advancing women empowerment Creating a safe and supportive Training and awareness programs Transforming potential into Our training initiatives focused
and inclusivity workplace
We conduct regular workshops on gender performance on various aspects:
We are dedicated to promoting equal We have implemented comprehensive sensitization and the Prevention of Sexual As part of continuous learning and
measures to build an inclusive space for Harassment (POSH) Act to educate our Technical training Managerial training
opportunities and creating a safe, development efforts, we organised an
supportive environment where all women, including stringent policies to workforce. These training sessions are extensive array of training programs Specialized sessions to enhance Programs to develop skills in delegation,
employees, especially women, can thrive. prevent sexual harassment. Our Anti- designed to promote awareness and during the fiscal year. These initiatives technical skills and keep employees logical thinking, conflict resolution,
Through a series of strategic initiatives and Sexual Harassment Policy complies with understanding, enabling a respectful and were held across various subsidiary updated on new technologies negotiation, and interpersonal
Statutory Reports
policies, we are committed to empowering The Sexual Harassment of Women at supportive workplace culture. headquarters, training centers, vocational and industry trends. relationships, crucial for leadership and
women and ensuring fairness in all the Workplace (Prevention, Prohibition training centers, and at our premier facility, organizational success.
& Redressal) Act, 2013. Each subsidiary The Forum of Women in Public Sector
aspects of employment. the Indian Institute of Coal Management
and office of CIL has an active Internal (WIPS), under the aegis of the Standing
(IICM) in Ranchi. Our goal was to address
We recognize the importance of including Complaints Committee (ICC) to address Conference of Public Enterprises (SCOPE),
the specific training needs identified Behavioral training Functional training
marginalized communities in our decision- and resolve any complaints of harassment, is actively operational within our coal
for different employee categories,
making processes. By involving individuals companies. WIPS serves as a platform Sessions on communication, emotional Training in specific roles covering topics
ensuring a secure environment for all ensuring that our workforce remains
from various backgrounds in committees for networking, professional development, intelligence, leadership potential, and like the RTI Act, disciplinary procedures,
women employees, regardless of their adept and future-ready.
and leadership roles, we ensure that and empowerment, providing women presentation skills to improve efficiency and other statutory requirements.
employment status.
with opportunities to connect, grow, and and create a positive work environment.
diverse perspectives are valued and
Focused training programs
considered in our organisational strategies. To ensure their health, safety, and well- support one another.
being, we strictly adhere to statutory Our training efforts concentrated
requirements, including provisions for on enhancing skills, acquiring new
98,380 39,374
maternity leave, childcare leave, and knowledge, and mastering both current
19,421
crèche facilities. These measures are and emerging technologies. Safety training
part of our broader commitment to was also a critical component. A notable
supporting women’s work-life balance example was the Financial Modeling Employees trained internally Contractual workers trained
Female employees and overall welfare. Training Program designed for executives
at the CIL Headquarters in Kolkata.
547
PWD employees
1,03,820
Employees trained
Inclusive hiring practices
6,47,533
We aim to provide equitable employment
opportunities, particularly for employees
from vulnerable groups. We ensure that
our hiring processes are transparent and Training man-days achieved
Friendly Cricket Match of CIL v/s Canara Bank
inclusive, with diverse panels representing
various backgrounds to promote fairness.
Collaborative training efforts Global training opportunities
Our selection procedures are designed
to accommodate candidates with Recognising the value of external expertise, To equip our employees with a global
disabilities or special needs, ensuring we partnered with prestigious institutions perspective and advanced expertise, we
no discrimination based on caste, such as IIM Lucknow and ISM Dhanbad. facilitated participation in international
creed, or religion. These collaborations provided specialized training programs. The Advanced Global
training opportunities, including a two- Techno-Management Programme 2023,
week ‘General Management Program’ at hosted at ASCI Hyderabad in collaboration
40
IIM Lucknow, which catered to middle- with ESCP Business School, France, and
level executives from various disciplines. the University of Maribor, Slovenia,
included an international component that
159
PwBD employees recruited
benefitted general managers.
Rajbhasha Pakhwada 2023
34
PwBD management trainees
Executives trained at premier
institutes 5,440
Employees trained through
recruited
Badminton Tournament at DCC, SECL training partners
106 107
Human Capital
Corporate Overview
Nurturing a robust leadership Disha Jigyasa Building a skilled workforce Executive: 15,777 Employees Management
pipeline Non-executive: 2,13,084 recruited trainees recruited
Aimed at mentoring and preparing It consists of 90-minute online sessions We have implemented a comprehensive
In today’s fast-paced and competitive newly promoted General Managers, the designed for all Directors of CIL and talent management system designed to 15,777
Male Male
business environment, effective DISHA program covers essential skills and its subsidiaries. These sessions focus attract and develop skilled professionals.
leadership is crucial for organisational responsibilities for their new roles. Several on global trends and developments At the entry level, the company recruits
335 251
success. We have implemented a series sessions were conducted aimed providing in key emerging areas, aligning with Management Trainees (MTs) through a Female Female
of comprehensive leadership training comprehensive training. strategic priorities. rigorous selection process. Candidates 61 16
Statutory Reports
programs designed to nurture and with technical backgrounds are selected
88
develop the skills of our leaders at various based on their GATE (Graduate Aptitude Total Total
Outbound trainings
levels. These programs, ranging from
intensive workshops to virtual awareness Organized in collaboration with Tata Steel
Test in Engineering) scores, while non-
technical candidates are chosen through
396 267
General Managers were
sessions, aim to cultivate a culture of Adventure Foundation (TSAF), these a Computer Based Test (CBT). This
trained during two programs 2,13,084
programs took place in locations such as
396
excellence, innovation, and strategic nationwide recruitment process provides
thinking within the organisation. Manali, Ladakh, Mussorie, and Jim Corbett. opportunities for talent from diverse
Lakshya Employees gained valuable experiential regions to join CIL, ensuring a rich mix Promoting diversity and inclusion
learning through these outdoor activities. of cultural and educational backgrounds. Total employees recruited
This initiative prepares candidates for Our recruitment strategy emphasises
Manthan 2.0 high-level positions within CIL. Through cultural diversity within the organization.
125
This initiative targets new directors at CIL, this program, participants enhanced By actively seeking Management Trainees
Career advancement opportunities
focusing on establishing a sustainable their leadership abilities, readying from a wide range of backgrounds,
themselves for interviews and potential Strategic recruitment drives we enrich our workforce with a wealth To retain top talent, we provide clear
competitive edge for the company. The
board-level roles. Employees participated of unique perspectives, skills, and pathways for career advancement. We
“MANTHAN 2.0” workshop, held over During the FY 2023-24, we augmented our
experiences. This diverse talent pool promote Non-Executive employees to
two days in partnership with MCL in workforce by conducting a comprehensive
24
nurtures innovation, creativity, and the Executive cadre across disciplines,
Bhubaneswar, equipped participants recruitment drive. This drive aimed to
inclusivity, ultimately enhancing our ability facilitating the seamless transition of
with the skills necessary to excel in their appoint Management Trainees and
to thrive in the global mining industry. skilled individuals within the company’s
roles and significantly contribute to the Participants Medical Executives through a transparent
hierarchy. This approach not only
organization’s growth. Direct Recruitment process. To ensure
addresses manpower requirements due to
efficiency and fairness, we engaged an
retirements, resignations, and attrition but
external agency, a Central Government
23
also motivates employees by recognising
Public Sector Unit (PSU), to handle the
and rewarding their contributions.
CBT and related activities. This agency
Directors participated managed the entire process, from
developing the online application portal
to conducting the CBT and addressing
candidate grievances promptly.
We have a comprehensive one-year

onboarding program for Management
Trainees (MTs) that includes classroom
training at the Indian Institute of Coal
Management (IICM) in Ranchi, on-the-
job training in various subsidiaries,
and mentoring. This program
combines technical and managerial
skill development sessions with
practical experience, ensuring new
employees gain valuable insights and
professional guidance to effectively
transition into their roles.
2,28,861
Employees
Blood donation camp at CCL
MANTHAN 2.0
108 109
Human Capital Board of Directors
Corporate Overview
Nurturing employee welfare and Promoting health and recreation Investing in education
development We recognise the importance of Education is a key priority for CIL,
We are deeply committed to the social recreational activities in maintaining particularly for the children of our
security and well-being of our employees. the physical and mental well-being of employees. We provide significant financial
We provide company housing to all eligible its employees. We provide a variety of assistance and infrastructure support to Shri. PM Prasad
employees with regular maintenance sports and recreational facilities near schools in mining areas, including well- Chairman cum Managing Director
and repairs conducted to ensure these residential areas, ensuring that workers known institutions like DAV, Kendriya
Statutory Reports
Government Nominee Directors
accommodations meet high living and their families have access to healthy Vidyalaya, and Delhi Public School. We
standards. Additionally, we offer holiday lifestyle options. Through the Coal India offer two main types of scholarships:
homes at popular tourist destinations Sports Promotion Association (CISPA), a Merit and General Scholarships, both
at subsidised rates for employees and registered body under the West Bengal designed to broaden opportunities for
their families, including retirees. We also Society’s Registration Act, we also offer our employees’ children.
maintain essential welfare facilities such sponsorships and financial assistance for
1,492
as canteens, rest shelters, pithead baths, sports and cultural activities, leading to a
and crèches, further supporting the daily vibrant community spirit.
Shri. Nagaraju Maddirala Smt. Nirupama Kotru
needs and well-being of its workforce.
Addl. Secretary, MoC JS & FA, MOC
Students awarded General
Scholarships Functional Directors
7,623
apprentices trained at CIL & its Subsidiaries 63
Students awarded Merit
Scholarships
Recognising the financial burden of Shri. Vinay Ranjan Dr. B Veera Reddy Shri. Debasish Nanda
higher education, particularly in technical Director (Personnel & Industrial Relations) Director (Technical) Director (Business Development)
and medical fields, we also provide
financial support for tuition fees and
hostel expenses for employees’ children
studying engineering or medicine at
prestigious institutions like IITs, NITs, and
government colleges.
Shri. Mukesh Choudhary Shri Mukesh Agrawal

Director (Marketing) Director (Finance)
Independent Directors
Prof. G. Nageswara Rao Dr. Arun Kumar Oraon CA Kamesh Kant Acharya CA Denesh Singh
Various competitions organised by CIL at Kendriya Vidyalaya on the

occassion of Vigilance Awareness week. Shri. Punambhai Kalabhai Makwana Shri. B. Rajesh chander Shri. Ghanshyam Singh Rathore
110 111
Chief Vigilance Officer Members of the Board
Corporate Overview
Functional Directors Government Nominee Directors
Shri. Brajesh Kumar Tripathy Shri. P M Prasad : Chairman-cum-Managing Director Shri. Nagaraju Maddirala : Addl. Secretary, MoC,
New Delhi
Statutory Reports
Shri. Vinay Ranjan : Personnel & Industrial Relations
Smt. Nirupama Kotru : JS &
Company Secretary Dr. B. Veera Reddy : Technical
FA, MOC, New Delhi
Shri. Debasish Nanda : Business Development
Shri. Mukesh Choudhary : Marketing
Shri. Mukesh Agrawal : Finance
Independent Directors Company Secretary
Shri. B. P. Dubey
Prof. Nageswara Rao Gollapalli Shri. B. P. Dubey
CA Denesh Singh
Executive Directors Shri. Bhojarajan Rajeshchander
CA Kamesh Kant Acharya
Shri. Punambhai Kalabhai Makwana
Dr. Arun Kumar Oraon
Shri. Ghanshyam Singh Rathore
Shri. Sunil Kumar Mehta Shri. Sudhir Agarwal

(ED-Finance) (ED-Engineering & Equipment)
Shri. Alok Lalit Kumar Shri. Pratul Dev Sharma

(ED-Production & Coord.) (ED-Material & Contracts)
Shri. Sujay Halder

(ED-Mktg & Logistics)
112 113
Bankers, Auditors, OPERATIONAL STATISTICS
Corporate Overview
Registered Office and RTA
Year Ending 31st
2024 2023 2022 2021 2020 2019 2018 2017 2016
March
1. a) Production of Raw
Coal (MillionTonnes)
1 Bank of India 8 ICICI Bank Limited Underground 26.021 25.487 25.624 26.454 30.037 30.480 30.542 31.477 33.786
Opencast 747.626 677.717 597.01 569.766 572.101 576.40 536.823 522.663 504.968
2 9 Total 773.647 703.204 622.63 596.22 602.138 606.89 567.365 554.140 538.754
Bank of Baroda Indian Bank
Statutory Reports
b) Overburden Removal 1964.144 1658.627 1362.06 1344.683 1154.327 1161.99 1178.115 1156.377 1148.908
3 10 (million Cum)
Canara Bank UCO Bank
2. Off take (Raw Coal)
4 11 Power 619.70 586.575 540.57 444.97 465.678 491.247 453.473 426.294 407.648
Punjab National Bank Axis Bank
Steel/Hard Coke 8.18 9.092 6.85 5.691 5.394 5.372 5.835 6.759 7.668
Others 125.64 99.022 115.15 123.814 110.854 111.517 120.976 110.266 119.180
5 State Bank of India 12 Kotak Mahindra Bank
Total 753.51 694.689 662.57 574.480 581.926 608.137 580.284 543.319 534.496
6 13 3. Average Manpower 234036 243880 253783 265730 278962 292118 304386 316210 327750
Union bank of India Bank of Maharashtra
4. Year-end Manpower 228861 239210 248550 259016 272445 285479 298757 310016 322404
7 HDFC Bank Ltd 5. Productivity
A) Average per Man per 3380 2940 2505 2302 2210 2126 1899 1787 1671
Year (tonnes)
B) Output per manshift
(OMS)
i) Under Ground 1.18 1.05 0.98 0.93 0.99 0.95 0.86 0.80 0.80
(Tonnes)
Statutory Auditors Cost Auditor Secretarial Auditor ii) Open Cast 25.57 22.04 15.23 15.09 14.25 14.68 14.10 15.26 14.35
(Tonnes)
M/s Lodha & Co R.M. Bansal & Co Mehta & Mehta iii) Overall (Tonnes) 13.44 12.80 9.53 9.02 8.53 8.51 7.71 7.53 6.95
Chartered Accountants, Cost Accountant Company Secretaries
14 Government Place East Kolkata A-201 Twin Towers Infinity Benchmark, 18th Floor, Room no.
Pin code - 700069 Lakhanpur, Kanpur - 208024 105, Street no. 25 , GP Block, Sector-5,
Bidhannagar, Kolkata- 700091.
Registered Office Website Registrar & Share Transfer Agent
Coal India Limited www.coalindia.in M/s. Alankit Assignments Limited

Coal Bhawan, 205-208 Anarkali Complex
Premises No-04 MAR, Jhandewalan Extension,
Plot No-AF-III, New Delhi – 110 055
Action Area-1A, New town,
Phone No:
Rajarhat, Kolkata-700156
011-4254-1234/2354-1234
Phone: 033-23245555
Fax No: 011-4154-3474
Email: [email protected]
E-mail id: [email protected]
GST: 19AABCC3929J1ZH
Website: www.alankit.com
Toll free no: 1860-121-2155
Coal loading operations underway in a coal face
114 115
OPERATIONAL STATISTICS - COAL INDIA LTD.
Corporate Overview
(CONSOLIDATED)
STATEMENT OF CONSOLIDATED PROFIT & LOSS (H in crore)
Sl
For The Year Ending 31st March 2024 2023 2022 2021 2020 2019 2018 2017 2016
No
A Earned From
1 Gross Sales (Coal) 1,93,907.10 1,87,455.57 1,52,603.30 1,26,786.13 1,34,979.13 1,40,603.00 1,26,543.97 1,22,286.96 1,08,147.54
Less: Statutory Levies 63,581.45 59,828.10 52,040.73 44,075.81 45,605.79 47,706.92 45,432.71 46,684.10 32,505.76
2 Net Sales 1,30,325.65 1,27,627.47 1,00,562.57 82,710.32 89,373.34 92,896.08 81,111.26 75,602.86 75,641.78
3.i Facilitation charges for coal import (0.84) 13.93 0.38
Statutory Reports
3.ii Subsidy for Sand Stowing & Protective Works 2.96 3.38 1.46 8.31 0.76 6.82 80.79 126.84 126.85
3.iii Recovery of Transportation & Loading Charges 7049.53 6138.57 5236.39 4442.95 3,832.02 3,853.99 2,980.60 2,490.91 2,238.62
3.iv Evacuation facilitating Charges 4513.06 4161.38 3632.07 2321.65 2,392.91 2,520.65 743.57
3.v Revenue from Other Services 433.62 307.18 282.93 542.78 481.31 308.07 328.02 190.60
3 Other Operating Revenue (Net of Levies) 11,998.33 10,624.44 9,152.85 7,315.69 6,707.00 6,689.53 4,132.98 2,808.35 2,365.85
4.i Interest Income 4574.44 3069.09 1612.55 1509.47 3,309.66 3,167.04 2,770.90 3,536.11 4,747.97
4.ii Dividend from Mutual Funds 0 0 11.01 3.94 157.44 243.36 180.85 194.49 265.09
4.iii Other non-operating Income 3394.64 3490.72 2257.85 2229.42 2,977.86 2,426.66 2,023.13 1,593.61 927.52
4 Other Income 7,969.08 6,559.81 3,881.41 3,742.83 6,444.96 5,837.06 4,974.88 5,324.21 5,940.58
TOTAL (A) 1,50,293.06 1,44,811.72 1,13,596.83 93,768.84 1,02,525.30 1,05,422.67 90,219.12 83,735.42 83,948.21
B Paid to / Provided for
1.i Salary, Wages, Allowances ,Bonus etc. 36824.15 38683.36 30534.07 28,634.74 28,812.51 28,542.12 28,008.89 25,995.43 23,675.76
1.ii Contribution to P.F. & Other Funds 9662.56 8369.00 7905.73 7,753.70 8,271.56 8,080.78 12,035.02 5,045.79 4,301.95
1.iii Others 2295.87 2357.81 2033.41 2,203.98 2,320.11 2,149.95 2,577.93 2,481.66 2,149.07
1 Employee Benefits Expenses 48,782.58 49,410.17 40,473.21 38,592.42 39,404.18 38,772.85 42,621.84 33,522.88 30,126.78
2 Cost of Materials Consumed 11580.04 13557.00 9443.51 7588.54 7,065.46 7,331.43 6,813.33 6,968.52 7,039.76
3 Purchases of Stock-in-Trade - 469.74 103.56 282.34 60.80
4 Changes in inventories of finished goods/work in progress and Stock in trade (1,521.50) (669.03) 2308.49 (2,351.26) (1,042.50) 856.24 1,679.46 (1,238.38) (1,444.22)
5 Power Expenses 2876.30 2759.89 2638.46 2524.67 2,467.22 2,443.08 2,516.42 2,546.45 2,490.54
6 Corporate Social Responsibility Expenses 654.49 586.50 548.98 449.31 587.84 416.47 483.78 489.67 1,082.16
7 Repairs 1947.55 1772.28 1632.33 1544.85 1,410.93 1,486.56 1,439.01 1,285.92 1,241.67
8 Contractual Expenses 27597.85 23289.21 18875.16 16045.91 13,911.55 13,337.84 12,757.28 12,303.03 11,128.42
9 Finance Costs
Unwinding of discounts 579.82 546.09 456.81 446.46 434.29 251.33 393.59 378.55 365.51
Other finance costs 239.55 138.22 84.68 195.78 68.63 12.35 36.51 30.63 20.65
10 Depreciation/Amortization/Impairment 6735.42 6832.94 4428.67 3717.85 3,450.83 3,450.36 3,062.70 2,906.75 2,825.91
11 Stripping Activity Adjustment (6138.17) (3622.36) 3760.86 1450.37 5,541.87 5071.19 3,358.25 2,672.21 2,811.42
12 Provisions & Write Off 1271.43 567.59 184.33 1023.21 486.41 111.61 82.61 2,331.95 884.57
13 Other Expenses 7301.92 5890.74 5032.91 4246.18 4,605.30 4,752.49 4,204.03 5,090.91 3,935.24
TOTAL (B) 1,01,907.28 1,01,528.98 89,971.96 75,756.63 78,452.81 78,293.80 79,448.81 69,289.09 62,508.41
14 Profit before Share of Joint Venture/Associate's profit/(loss) (A-B) 48,385.78 43,282.74 23,624.87 18,012.21 24,072.49 27,128.87 10,770.31 14,446.33 21,439.80
15 Share of Joint Venture /Associate's profit/(loss) 426.83 (8.14) (8.59) (2.97) (1.17) (2.00) 0.44 (1.76) (1.14)
16 Profit Before Tax 48,812.61 43,274.60 23,616.28 18,009.24 24,071.32 27,126.87 10,770.75 14,444.57 21,438.66
17 Less: Tax Expenses (11,443.48) (11,551.62) (6,237.86) (5,307.07) (7,370.98) (9,662.45) (3,732.31) (5,164.79) (7,171.87)
18 Profit for the period from continuing operations 37,369.13 31,722.98 17,378.42 12,702.17 16,700.34 17,464.42 7,038.44 9,279.78 14,266.79
19 Profit/(Loss) from discontinued operations (after Tax) (0.01) (0.01)
20 Profit For the Period 37,369.13 31,722.98 17,378.42 12,702.17 16,700.34 17,464.42 7,038.44 9,279.77 14,266.78
21 Other Comprehensive Income
A (i) Items that will not be reclassified to profit or loss (523.52) 353.43 90.28 (769.73) (1,805.19) (42.53) 973.37 140.15 455.01
(ii) Income tax relating to items that will not be reclassified to profit or loss 108.07 (88.94) (39.19) 134.70 469.88 59.53 (330.56) (58.16) (160.89)
B (i) Items that will be reclassified to profit or loss 0.14 0.22 (0.48) 0.58 0.38 0.01 0.01 0.29
(ii) Income tax relating to items that will be reclassified to profit or loss - - - - - - - -
Total Other Comprehensive Income (415.45) 264.63 51.31 (635.51) (1,334.73) 17.38 642.82 82.00 294.41
22 Total Comprehensive Income for the period (Comprising Profit (Loss) and Other 36,953.68 31,987.61 17,429.73 12,066.66 15,365.61 17,481.80 7,681.26 9,361.77 14,561.19
Comprehensive Income for the period)
23 Profit attributable to:
Owners of the company 37,402.29 31,763.23 17,358.10 12,699.89 16,714.19 17,463.07 7,038.56 9,280.02 14,266.82
Non-controlling interest (33.16) (40.25) 20.32 2.28 (13.85) 1.35 (0.12) (0.25) (0.04)
37,369.13 31,722.98 17,378.42 12,702.17 16,700.34 17,464.42 7,038.44 9,279.77 14,266.78
24 Other Comprehensive Income attributable to:
Owners of the company (415.45) 264.63 51.31 (635.51) (1,334.73) 17.38 642.82 82.00 294.41
Non-controlling interest -
(415.45) 264.63 51.31 (635.51) (1,334.73) 17.38 642.82 82.00 294.41
25 Total Comprehensive Income attributable to:
Owners of the company 36986.84 32027.86 17409.41 12,064.38 15,379.46 17,480.45 7,681.38 9,362.02 14,561.23
Non-controlling interest (33.16) (40.25) 20.32 2.28 (13.85) 1.35 (0.12) (0.25) (0.04)
36,953.68 31,987.61 17,429.73 12,066.66 15,365.61 17,481.80 7,681.26 9,361.77 14,561.19
Note :- For FY 2022-23 the figures have been restated due to change in accounting policy of Stripping Activity. Figures for previous
years are restated wherever applicable.
116 117
Corporate Overview
(CONSOLIDATED)
FINANCIAL POSITION
(H in crore)
Sl. As at 31st March
2024 2023 2022 2021 2020 2019 2018 2017 2016
No. Particulars
ASSETS
A Non-Current Assets
(a) Property, Plant & Equipments 67900.41 57034.46 42697.79 37753.65 32302.35 28546.43 24059.98 22035.99 20662.55
Statutory Reports
(b) Capital Work in Progress 14738.66 15262.62 12713.73 10403.66 8271.09 9618.98 10272.70 8585.22 4553.22
(c) Exploration and Evaluation Assets 5049.58 4924.85 3873.55 4605.81 4443.12 4036.71 3484.58 1717.73 1351.13
(d) Intangible assets 2718.21 2588.11 105.62 45.76 38.14 35.18 29.53 57.65 68.81
(e) Intangible assets under development 4221.64 2359.35 183.41 86.17 57.16 38.70
(f) Financial Assets
(i) Investments 3859.31 3085.40 2426.97 2317.64 1873.17 1419.84 1303.06 969.39 966.11
(ii) Loans 358.71 371.06 355.47 190.00 638.59 1141.73 1020.08 23.29 80.60
(iii) Other Financial Assets 18010.69 16300.45 14498.79 13140.24 12293.05 12098.95 11315.98 9534.29 8883.05
(g) Deferred Tax Assets (net) 3141.29 2814.52 4128.42 4068.09 3618.01 4269.16 5355.05 2732.76 2044.54
(h) Non-current tax assets (Net) 71.14
(i) Other non-current assets 13719.26 9606.13 6407.94 4417.23 3105.25 2144.39 2514.08 2238.99 1891.67
Total Non-Current Assets (A) 133788.90 114346.95 87391.69 77028.25 66639.93 63350.07 59355.04 47895.31 40501.68
B Current Assets
(a) Inventories 10177.23 8154.68 7075.68 8947.47 6617.98 5583.93 6443.85 8945.27 7569.17
(b) Financial Assets
(i) Investments 3251.10 4054.01 6493.63 3632.59 99.70 1749.96 400.57 513.47 1939.96
(ii) Trade Receivables 13255.75 13060.48 11367.68 19623.12 14408.22 5498.55 6257.80 12476.27 11447.61
(iii) Cash & Cash equivalents 6008.71 5627.43 7063.48 5112.40 2791.10 2302.36 3997.67 4193.91 4876.40
(iv) Other Bank Balances 24226.46 34294.28 22901.75 12197.90 25657.86 28821.87 27282.31 26955.28 33138.51
(v) Loans 21.59 21.94 0.32 500.81 502.65 502.33 3.69 12.48 21.80
(vi) Other Financial Assets 2698.51 2716.96 2620.91 2215.65 2779.28 3522.09 3383.68 2829.83 2491.07
(c) Current Tax Assets (Net) 9064.13 8719.00 8423.19 9161.38 8950.27 9202.53 7996.58 7467.97 4397.87
(d) Other Current Assets 35179.88 31434.93 26899.35 23362.00 21880.49 12487.76 10349.48 6525.43 6444.13
Total Current Assets (B) 103883.36 108083.71 92845.99 84753.32 83687.55 69671.38 66115.63 69919.91 72326.52
Total Assets (A+B) 237672.26 222430.66 180237.68 161781.57 150327.48 133021.45 125470.67 117815.22 112828.20
EQUITY AND LIABILITIES
A Equity
1 Issued, Subscribed and Paid-up Equity Share Capital 6162.73 6162.73 6162.73 6162.73 6162.73 6162.73 6207.41 6207.41 6316.36
2 Capital Redemption Reserve
Balance at opening 1,202.96 1,202.96 1,202.96 1,202.96 1,202.96 1,013.13 2,064.51 1,808.36 1808.36
Addition during the year 189.83 -
Buyback of Equity Shares 256.15 0.00
Issue of Bonus Shares (96.15) (1,051.38)
Balance at Closing 1,106.81 1,202.96 1,202.96 1,202.96 1,202.96 1,202.96 1,013.13 2,064.51 1,808.36
3 Capital Reserve
Balance at opening 1,567.80 1,566.57 1,565.45 1,461.52 1,461.82 1,567.66 19.81 18.18 18.18
Addition during the year 0.31 2.63 2.20 0.19 0.60 1.00 0.39 2.32
Adjustment during the year (1.57) (1.40) (1.08) (0.98) (0.90) (1.33) (0.99) (0.69)
Issue of Bonus Shares 3494.65 104.72 1,548.45
Buyback of Equity Shares (105.51)
Balance at Closing 5,061.19 1,567.80 1,566.57 1,565.45 1,461.52 1,461.82 1,567.66 19.81 18.18
4 General Reserve
Balance at opening 18,968.17 17,641.59 16,779.18 16,080.17 15,321.42 15,737.15 15,676.06 23,139.53 21511.02
Adjustments (3,914.17)
Transfer to/from General reserve 1,415.27 1,326.58 862.41 721.38 758.75 791.17 544.89 510.75 1628.51
Buyback of Equity Shares (1,065.00) (3,797.20)
Tax on Buyback (141.90) (262.85)
Issue of Bonus Shares / Adjustment (3,398.51) (22.37) (483.80)
Balance at Closing 16,984.93 18,968.17 17,641.59 16,779.18 16,080.17 15,321.42 15,737.15 15,676.06 23,139.53
5A Retained Earnings
Balance at opening 33,537.26 17,451.80 11,740.96 7,547.95 1,269.89 (5,365.55) 174.18 3,256.61 11455.93
Adjustments (22.80) (0.06) 0.29 (0.03) 303.68 3,891.65 (7.77)
Profit for the year 37402.29 31763.23 17358.10 12699.89 16,714.19 17,463.07 7,038.56 9,280.02 14267.11
118 119
Corporate Overview
(CONSOLIDATED)
FINANCIAL POSITION
(H in crore)
Sl. As at 31st March
2024 2023 2022 2021 2020 2019 2018 2017 2016
No. Particulars
Appropriations
Transfer to/from General reserve (1,415.27) (1,326.58) (862.41) (721.38) (758.75) (791.17) (544.89) (510.75) (1628.51)
Transfer to other reserves -
Statutory Reports
Interim Dividend (12,633.63) (12,479.57) (8,627.82) (7,703.44) (7,395.27) (8,105.58) (10,242.24) (12,352.76) (17306.84)
Final Dividend (2,465.09) (1,848.82) (2,156.97) -
Corporate Dividend Tax (2,282.08) (1,833.86) (2,081.57) (2,750.36) (3523.31)
Buyback of Equity Shares (24.64)
Tax on Buyback (72.38) (640.23)
Issue of Bonus Shares (82.35) (13.27)
Balance at Closing 54,425.56 33,537.26 17,451.80 11,740.96 7,547.95 1,269.89 (5365.55) 174.18 3256.61
5B Other Comprehensive Income
OCI - Remeasurement of Defined Benefits Plans (net of Tax)
Balance at opening (596.85) (883.33) (934.42) (298.41) 1,036.32 1,018.94 376.12 294.12 0.00
Other Comprehensive Income during the year (415.51) 264.46 51.09 (636.01) (1,334.73) 17.38 642.82 82.00 294.12
Share of other comprehensive income/(expense) of joint ventures 0.06 0.03
Adjustments 21.99
Balance at Closing (1012.30) (596.85) (883.33) (934.42) (298.41) 1036.32 1018.94 376.12 294.12
6 OCI-Exchange Difference in translating the financial statements of a foreign
subsidiary
Balance at opening 0.86 0.72 0.50
Profit for the period - 0.14 0.22 0.50
Balance at Closing 0.86 0.86 0.72 0.50 0.00 0.00 0.00 0.00 0.00
Balance at Closing (1011.44) (595.99) (882.61) (933.92) (298.41) 1036.32 1018.94 376.12 294.12
7 Other Equity 76,567.05 54,680.20 36,980.31 30,354.63 25,994.19 20,292.41 13,971.33 18,310.68 28,516.80
8 Equity Attributable to Equityholders of the company 82,729.78 60,842.93 43,143.04 36,517.36 32,156.92 26,455.14 20,178.74 24,518.09 34833.16
9 Non-controlling Interest 852.12 770.69 673.79 441.08 394.08 407.80 362.45 345.92 104.78
10 TOTAL EQUITY (A) 83,581.90 61,613.62 43,816.83 36,958.44 32,551.00 26,862.94 20,541.19 24,864.01 34937.94
Liabilities
B Non-Current Liabilities
(a) Financial Liabilities
(i) Borrowings 5617.20 4106.25 3301.78 2688.10 1993.38 1472.27 1054.40 294.80 263.06
(ia) Lease liabilities 156.29 157.00 159.66 1.11
(ii) Other Financial Liabilities 3469.26 3207.57 2477.84 1590.02 802.51 1354.56 1164.92 1042.76 1219.41
(b) Provisions 74311.01 76140.63 65944.00 63540.59 60223.45 52380.16 50024.48 43778.11 41542.71
(c) Deferred Tax Liabilities (net) 1822.16 1643.95 801.35 730.73 307.04
(d) Other Non-Current Liabilities 7441.90 6788.22 6527.71 5685.68 5381.81 4853.72 4366.58 3819.71 3510.92
Total Non-Current Liabilities (B) 92817.82 92043.62 79212.34 74236.23 68708.19 60060.71 56610.38 48935.38 46536.10
C Current Liabilities
(i) Borrowings 671.82 8.48 7.98 3194.79 4432.61 730.47 476.54 2712.97 929.03
(ia) Lease Liabilities 77.72 59.69 44.22 0.23
(ii) Trade payables 8385.65 8549.18 8603.53 8473.14 7250.96 9417.97 6974.40 3884.31 3297.15
(iii) Other Financial Liabilities 16148.19 12806.81 11431.07 10507.08 8446.80 4156.19 4470.61 4747.97 3988.14
(b) Other Current Liabilities 29110.25 32126.30 30897.32 22889.38 22156.48 24966.55 24364.36 21524.07 15092.01
(c) Provisions 6680.58 15198.18 6224.39 5522.28 6781.44 6826.62 12033.19 11146.51 8047.83
(d) Current Tax Liabilities 198.33 24.78 0.00
Total Current Liabilities (C) 61272.54 68773.42 57208.51 50586.90 49068.29 46097.80 48319.10 44015.83 31354.16
Total Equity and Liabilities (A+B+C) 237672.26 222430.66 180237.68 161781.57 150327.48 133021.45 125470.67 117815.22 112828.20
120 121
Corporate Overview
(CONSOLIDATED)
IMPORTANT FINANCIAL INFORMATION
(H in crore)
Sl. No. For The Year Ending 31st March 2024 2023 2022 2021 2020 2019 2018 2017 2016
A Related to Assets & Liabilities

1.i No. of Equity Shares (CIL) of H 10 each 6162728327 6162728327 6162728327 6162728327 6162728327 6162728327 6207409177 6207409177 6316364400
1.ii Equity
Statutory Reports
1.ii.a Equity Share Capital 6162.73 6162.73 6162.73 6162.73 6162.73 6162.73 6207.41 6207.41 6316.36
1.ii.b Other Equity 76,567.05 54,680.20 36,980.31 30,354.63 25,994.19 20,292.41 13,971.33 18,310.68 28,516.80
1.ii.c Equity (1.ii.a + 1.ii.b) 82,729.78 60,842.93 43,143.04 36,517.36 32,156.92 26,455.14 20,178.74 24,518.09 34,833.16
1.ii.d Capital Reserve (excluding issue of bonus shares) 18.87 20.13 18.90 17.78 18.57 18.88 19.21 19.81 18.18
1.ii.e. Net Worth (1.ii.c - 1.ii.d) 82,710.91 60,822.80 43,124.14 36,499.58 32,138.35 26,436.26 20,159.53 24,498.28 34,814.98
2.i Long Term Borrowings excl. Current Maturities 5617.20 4106.25 3301.78 2688.10 1993.38 1472.27 1054.40 294.80 263.06
2.ii Current Maturities of Long term Borrowings 8.57 8.48 7.80 7.59 7.78 7.20 6.78 115.89 6.70
2.iii. Long Term Borrowings incl. Current Maturities (2.i. + 2.ii.) 5625.77 4114.73 3309.58 2695.69 2001.16 1479.47 1061.18 410.69 269.76
2.iv. Short Term Borrowings 671.82 8.48 7.98 3194.79 4432.61 730.47 476.54 2712.97 929.03
2.v. Total Borrowings (incl. current maturity) (2.i.+2.iv.) 6,289.02 4,114.73 3,309.76 5,882.89 6,425.99 2,202.74 1,530.94 3,007.77 1,192.09
3.i Gross Property Plant & Eqipment 100568.12 84240.1 63962.27 55361.11 46826.33 40085.35 32499.12 27630.94 23341.40
3.ii. Accumulated Depreciation/Impairment 32667.71 27205.64 21264.48 17607.46 14523.98 11538.92 8439.14 5594.95 2678.85
3.iii. Net Property Plant & Eqipment (3.i. - 3.ii.) 67900.41 57034.46 42697.79 37753.65 32302.35 28546.43 24059.98 22035.99 20662.55
3.iv. Net Other Fixed Assets 22506.45 22775.58 16692.90 15055.23 12752.35 13690.87 13786.81 10360.60 5973.16
3.v. Other Non Current Assets 43382.04 34536.91 28001.00 24219.37 21585.23 21112.77 21508.25 15498.72 13865.97
3.vi. Current Assets 103883.36 108083.71 92845.99 84753.32 83687.55 69671.38 66115.63 69919.91 72326.52
3.vii. Total Assets (3.i. to 3.vi.) 2,37,672.26 2,22,430.66 1,80,237.68 1,61,781.57 1,50,327.48 1,33,021.45 1,25,470.67 1,17,815.22 1,12,828.20
3.viii. Current Liabilities 61272.54 68773.42 57208.51 50586.90 49068.29 46097.80 48319.10 44015.83 31354.16
3.ix. Capital Employed (3.vii - 3.viii.) 1,76,399.72 1,53,657.24 1,23,029.17 1,11,194.67 1,01,259.19 86,923.65 77,151.57 73,799.39 81,474.04
4.i Trade Receivables 13255.75 13060.48 11367.68 19623.12 14408.22 5498.55 6257.80 12476.27 11447.61
4.ii Cash & Cash Equivalents 6008.71 5627.43 7063.48 5112.40 2791.10 2302.36 3997.67 4193.91 4876.40
4 iii Other Bank Balances 24226.46 34294.28 22901.75 12197.90 25657.86 28821.87 27282.31 26955.28 33138.51
5.i Closing Stock of Coal (Net) 7545.95 6105.11 5413.16 7619.11 5199.51 4138.24 4979.09 7412.79 6162.54
5.ii Closing Stock of Stores , Spares & Other Inventories (Net) 2631.28 2049.57 1662.52 1328.36 1418.47 1445.69 1464.76 1532.48 1406.63
B Related to Proft/Loss
1.i Profit before Share of Joint Venture/Associate's profit/(loss) 48385.78 43282.74 23624.87 18012.21 24072.49 27128.87 10770.31 14446.33 21439.80
1.ii Profit Before Tax 48812.61 43274.60 23616.28 18009.24 24071.32 27126.87 10770.75 14444.57 21438.66
1.iii Profit After Tax/Profit for the year 37369.13 31722.98 17378.42 12702.17 16700.34 17464.42 7038.44 9279.77 14266.78
1.iv Other Comprehensive Income (415.45) 264.63 51.31 (635.51) (1334.73) 17.38 642.82 82.00 294.41
1.v Total Comprehensive Income (1.iii.+1.iv.) 36953.68 31987.61 17429.73 12066.66 15365.61 17481.80 7681.26 9361.77 14561.19
2.i Gross Sales of Coal 193907.10 187455.57 152603.30 126786.13 134979.13 140603.00 126543.97 122286.96 108147.54
2.ii Net Sales 130325.65 127627.47 100562.57 82710.32 89373.34 92896.08 81111.26 75602.86 75641.78
2.iii. Other Operating Income 11998.33 10624.44 9152.85 7315.69 6707.00 6689.53 4132.98 2808.35 2365.85
2.iv Revenue from Operations (net) (2.ii.+2.iii.) 142323.98 138251.91 109715.42 90026.01 96080.34 99585.61 85244.24 78411.21 78007.63
3.i. Interest Income 4574.44 3069.09 1612.55 1509.47 3309.66 3167.04 2770.90 3536.11 4747.97
3.ii. Dividend from Mutual Funds 0.00 0.00 11.01 3.94 157.44 243.36 180.85 194.49 265.09
3.iii. Other non-operating Income 3394.64 3490.72 2257.85 2229.42 2977.86 2426.66 2023.13 1593.61 927.52
3.iv. Total Other Income (3.i.+3.ii.+3.iii.) 7969.08 6559.81 3881.41 3742.83 6444.96 5837.06 4974.88 5324.21 5940.58
3 Total Income (2.iv.+3.iv.) 150293.06 144811.72 113596.83 93768.84 102525.30 105422.67 90219.12 83735.42 83948.21
4 Total Expenditure 101907.28 101528.98 89971.96 75756.63 78452.81 78293.80 79448.81 69289.09 62508.41
4.i Employee Benefits Expenses 48782.58 49410.17 40473.21 38592.42 39404.18 38772.85 42621.84 33522.88 30126.78
4.ii Cost of Materials Consumed 11580.04 13557.00 9443.51 7588.54 7065.46 7331.43 6813.33 6968.52 7039.76
4.iii Power & Fuel 2876.30 2759.89 2638.46 2524.67 2467.22 2443.08 2516.42 2546.45 2490.54
4.iv Finance Cost 819.37 684.31 541.49 642.24 502.92 263.68 430.10 409.18 386.16
4.v Depreciations & Amortisation 6735.42 6832.94 4428.67 3717.85 3450.83 3450.36 3062.70 2906.75 2825.91
4.vi. Corporate Social Responsibility Expenses 654.49 586.50 548.98 449.31 587.84 416.47 483.78 489.67 1082.16
4.vii. Stripping Activity Adjustment (6138.17) (3622.36) 3760.86 1450.37 5541.87 5071.19 3358.25 2672.21 2811.42
4.viii. Provisions & Write Off 1271.43 567.59 184.33 1023.21 486.41 111.61 82.61 2331.95 884.57
5 Cost of Goods Sold (4 - 4.iv.-4.vi.-4.vii.-4.viii.) 105300.16 103312.94 84936.30 72191.50 71333.77 72430.85 75094.07 63386.08 57344.10
6 EBIT (1.ii.+ 4.iv.-3.i.) 45057.54 40889.82 22545.22 17142.01 21264.58 24223.51 8429.95 11317.64 17076.85
7 EBITDA (6+4.v.) 51792.96 47722.76 26973.89 20859.86 24715.41 27673.87 11492.65 14224.39 19902.76
8 Value added (1.ii.+4.iv.+4.v.+ 4.i.) 105149.98 100202.02 69059.65 60961.75 67429.25 69613.76 56885.39 51283.38 54777.51
122 123
Corporate Overview
(CONSOLIDATED)
IMPORTANT FINANCIAL RELATIVE RATIOS
Sl.
Ratios 2024 2023 2022 2021 2020 2019 2018 2017 2016
No.
1 Debt Equity Ratio
1.i - Total Debt to Equity 0.08 0.07 0.08 0.16 0.20 0.08 0.08 0.12 0.03
1.ii - Long Term Debt to Equity 0.07 0.07 0.08 0.07 0.06 0.06 0.05 0.02 0.01
Statutory Reports
2 Current Ratio 1.70 1.57 1.62 1.68 1.71 1.51 1.37 1.59 2.31
3 Return on Average Net Worth 52.07% 61.04% 43.65% 37.01% 57.02% 74.96% 31.50% 31.29% 37.59%
4 Return on Average Capital Employed 27.30% 28.21% 19.25% 16.14% 22.60% 29.53% 10.96% 14.58% 20.65%
5 Debtor Turnover Ratio (as no. of months) of Gross Sales 0.81 0.78 1.22 1.61 0.88 0.50 0.71 1.17 1.11
6 Inventory Turnover Ratio (as no. of months) of Cost of Goods Sold 0.78 0.67 0.92 1.07 0.79 0.76 0.80 1.29 1.14
7 EBITDA Margin on Net Sales 39.74% 37.39% 26.82% 25.22% 27.65% 29.79% 14.17% 18.81% 26.31%
8 Net Profit Margin on Net Sales 28.67% 24.86% 17.28% 15.36% 18.69% 18.80% 8.68% 12.27% 18.86%
9 Earning Per Share (H) 60.69 51.54 28.17 20.61 27.12 28.14 11.34 14.80 22.59
10 Book Value Per Share (H) 134.24 98.73 70.01 59.26 52.18 42.93 32.51 39.50 55.15
11 Market Price Per Share (NSE) (H) 434.10 213.65 183.05 130.35 140.05 237.20 283.30 292.65 291.95
12 Price Earning Ratio (P/E Ratio) 7.15 4.15 6.50 6.32 5.16 8.43 24.98 19.77 12.92
13 Dividend per Share (H) * 25.50 24.25 17.00 16.00 12.00 13.10 16.50 19.90 27.40
14 Dividend Payout Ratio 42.02% 47.05% 60.35% 77.63% 44.25% 46.55% 145.50% 134.46% 121.29%
15 Market Capitalisation (H in Crore) 267524.04 131666.69 112808.74 80331.16 86309.01 146179.92 175855.90 181659.83 184406.26
Note :- For FY 2022-23 the figures have been restated due to change in accounting policy of Stripping Activity. Figures for previous years are restated
wherever applicable.
* Dividend per share includes Final Dividend and Interim Dividend. For FY 2023-24, final dividend of H 5.00 is subject to approval of shareholders in AGM.
Formulas
1 Value Added = Profit Before Tax + Finance Cost + Depreciation & Amortisation + Employee Benefit Expenses
2 Equity = Equity Share Capital + Other Equity
3 Total Debt to Equity = Borowings/Equity
4 Long Term Debt to Equity = (Long Term Borowings + Current Maturity of Long Term) / Equity
5 Current Ratio= Current Assets / Current Lilabilities
6 Return on Average Net Worth (%) = Profit After Tax (Profit for the period) / Average Net Worth
7 Capital Employed = Total Assets - Current Liabilities
8 EBIT (Earning Before Interest & Tax) = Profit Before Tax + Finance Cost - Interest Income
9 Return on Average Capital Employed = EBIT/Average Capital Employed
10 Debtors Turnover Ratio = Average Debtors (net of Provision) /Gross Sales *12
11 Cost of Goods Sold = (Total Expenditure -Finance Cost - Write off - Provision-CSR-Stripping Activity Adjustment)
12 Inventory Turnover Ratio = Average Inventory of Coal /Cost of Goods Sold *12
13 EBITDA (Earning Before Interest,Tax, Depreciation & Amortisation) = Profit Before Tax + Finance Cost + Depreciation & Amortisation - Interest Income
14 EBITDA Margin = EBITDA/Net Sales
15 Earning Per Share = Profit After Tax (Profit for the period) / Weighted Average Number of Equity Shares
16 Book Value Per Share = Equity / Number of Equity Shares
17 Price Earning Ratio (P/E Ratio) = Market Price per Share /Earning Price per Share
18 Dividend Payout Ratio = Dividend Per Share/Earning Per Share
124 125
OPERATIONAL STATISTICS - COAL INDIA LTD. (CONSOLIDATED) OPERATIONAL STATISTICS - COAL INDIA LTD. (CONSOLIDATED)
Corporate Overview
FINANCIAL POSITION INCOME AND EXPENDITURE STATEMENT
(H in crore) (H in crore)
Sl. Sl.
As at 31st March 2015 2014 2013 2012 2011 For The Year Ending 31st March 2015 2014 2013 2012 2011
No. No.
A What is owned A Earned From
Gross Fixed Assets (Tangible & Intangible) 44807.98 41479.46 39010.67 38096.41 36714.12 1 Gross Sales (Coal) 95434.76 89216.86 88281.32 78410.38 60240.90
Less: Depreciation, Impairment & Provisions (28692.94) (26695.07) (25544.91) (24656.12) (23870.81) Less: Statutory Levies (23420.14) (20406.84) (19978.58) (15994.95) (10011.62)
1 Net Carrying Value of Fixed Assets 16115.04 14784.39 13465.76 13440.29 12843.31 2 Net Sales 72014.62 68810.02 68302.74 62415.43 50229.28
2 Capital WIP & Intangible Assets under 5159.37 4315.81 3495.95 2903.38 2057.16 3.i Facilitation charges for coal import 0.30
Statutory Reports
Development 3.ii Subsidy for Sand Stowing & Protective Works 78.19 99.89 79.51 67.48 76.83
3 Non-Current Investments 963.05 1187.58 1400.30 946.99 850.96 3.iii Recovery of Transportation & Loading Cost 2026.96 1697.61 1469.02 1376.04 1218.88
4 Deferred Tax Assets (Net) 1959.62 1971.74 2255.02 1194.06 873.23 (Net)
5 Long-Term Loans & Advances 1688.22 1163.66 1181.36 1017.25 845.35 3 Other Operating Revenue (Net) (3.i. to 3.iii.) 2105.45 1797.50 1548.53 1443.52 1295.71
6 Other Non-current Assets 6776.65 5259.55 2118.00 2000.21 1500.77 4.i Interest on Deposits & Investments 5297.89 5566.77 6216.71 5317.77 2964.34
7 Current Assets 4.ii Dividend from Mutual Funds 279.60 241.63 140.49 27.97 0.33
7.i.a Inventory of Coal (Net) 4712.16 4154.61 4301.16 4801.14 4439.82 4.iii Other non-operating Income 993.15 1363.48 840.96 747.64 611.76
7.i.b Inventory of Stores & Spares (Net) 1245.17 1167.16 1117.90 1126.45 1038.17 4 Other Income (4.i. to 4.iii.) 6570.64 7171.88 7198.16 6093.38 3576.43
7.i.c Other Inventories 226.49 246.30 198.77 143.69 107.62 TOTAL (A) 80690.71 77779.40 77049.43 69952.33 55101.42
7.ii Trade Receivables 8521.88 8241.03 10480.21 5662.84 3456.98 B Paid to / Provided for
7.iii Cash & Bank Balances 47268.89 47722.60 60192.17 56271.86 44382.00 1.i Salary, Wages, Allowances ,Bonus etc. 21217.34 20615.96 18930.24 16571.73 13296.31
7.iv Current Investments 1850.39 2587.32 994.66 1034.41 212.73 1.ii Contribution to P.F. & Other Funds 2563.73 2470.01 2291.46 1778.31 1697.84
7.v Short term Loans & Advances 8826.80 6596.06 4919.81 13478.19 11180.14 1.iii Gratuity 1121.60 514.51 1456.83 3944.09 1482.09
7.vi Other Current assets 5227.73 4844.54 4174.74 2965.50 2125.75 1.iv Leave Encashment 949.42 601.34 833.21 804.67 686.11
Total Current Assets (7.i.a. to 7.vi.) 77879.51 75559.62 86379.42 85484.08 66943.21 1.v Others 4022.03 3712.58 4094.26 3317.70 2706.85
8 Current Liabilities & Provisions 1 Employee Benefits Expenses (1.i. to 1.v.) 29874.12 27914.40 27606.00 26416.50 19869.20
8.i Short Term Borrowings 200.11 0.32 32.60 2 Cost of Materials Consumed 7256.44 7022.05 6062.11 5504.07 5272.82
8.ii Trade Payables 920.76 805.08 837.17 829.02 645.45 3 Changes in inventories of finished goods/ (530.48) 92.65 493.92 (381.04) (1214.97)
8.iii Other Current Liabilities 20596.67 18070.40 16385.71 17832.16 13601.00 work in progress and Stock in trade
8.iv Short Term Provisions 7691.96 6300.60 9761.53 16039.27 12757.37 4 Power Expenses 2347.28 2282.23 2333.48 2012.52 1749.48
Total Current Liabilities & Provisions 29409.50 25176.40 26984.41 34700.45 27036.42 5 Corporate Social Responsibility Expenses 298.10 409.37 140.13 104.12 94.70
(8.i. to 8.iv.) 6 Repairs 1122.73 985.18 822.40 645.71 657.36
9 Net Current Assets (7-8) 48470.01 50383.22 59395.01 50783.63 39906.79 7 Contractual Expenses 8512.62 6827.53 5801.97 4900.97 4624.50
TOTAL (A) 81131.96 79065.95 83311.40 72285.81 58877.57 8 Finance Costs 7.32 58.00 45.17 53.98 73.70
B What is owed 9 Depreciation/Amortization/Impairment 2319.80 1996.41 1812.97 1969.22 1765.40
Share Capital 6316.36 6316.36 6316.36 6316.36 6316.36 10 Overburden Removal Adjustment 3826.70 3286.56 3201.74 3693.89 2618.47
Reserves & Surplus 34036.71 36088.10 42155.63 34136.66 26997.84 11 Provisions & Write Off 993.80 1154.53 927.10 1469.84 578.84
1 Shareholders' Fund 40353.07 42404.46 48471.99 40453.02 33314.20 12 Other Expenses 3083.36 2872.36 2830.26 2381.04 2501.28
2 Long Term Borrowings 201.83 171.46 1077.79 1305.35 1333.76 13 Prior Period Adjustment/ Exceptional Items (5.00) (1.41) (6.86) (91.15) 47.40
3 Other Long Term Liabilities 3999.44 3528.94 3137.21 2647.03 2057.39 TOTAL (B) 59106.79 54899.86 52070.39 48679.67 38638.18
4 Long Term Provisions 36511.79 32897.49 30560.81 27826.81 22139.61 Profit Before Tax (A - B) 21583.92 22879.54 24979.04 21272.66 16463.24
TOTAL (B) 81066.13 79002.35 83247.80 72232.21 58844.96 Less: Tax Expenses (7857.30) (7767.90) (7622.67) (6484.45) (5595.88)
C Minority Interest 65.83 63.60 63.60 53.60 32.61 Profit/(loss) from discontinuing operation (0.01) (0.01) (0.01) (0.01) (0.01)
TOTAL (B) + (C ) 81131.96 79065.95 83311.40 72285.81 58877.57 Share of Minority 0.09 0.04
Profit After Tax 13726.70 15111.67 17356.36 14788.20 10867.35
* The above financials are prior to implementation of Ind As Dividend for the year 13074.88 18317.46 8842.91 6316.36 2463.38
Corporate Dividend Tax 2424.55 2825.27 1323.23 1183.56 897.74
Transfer to General Reserve 2578.50 2827.44 2508.92 2143.24 1471.94
Transfer to CSR Reserve 231.28 220.82 231.22 168.12
Other Transfers & Adjustments 410.13 31.30 (70.36) 115.77 7.74
Retained Surplus/ (Deficit) for the year (4761.36) (9121.08) 4530.84 4798.05 5858.43
Cumulative Profit/Loss from Last year 15515.36 24636.44 20105.60 15307.55 9449.12
Cumulative Profit/Loss in Balance Sheet 10754.00 15515.36 24636.44 20105.60 15307.55
* The above financials are prior to implementation of Ind As
126 127
FINANCIAL INFORMATIONAL
OPERATIONAL STATISTICS - COAL INDIA LTD. (CONSOLIDATED) OPERATIONAL STATISTICS - COAL INDIA LTD. (CONSOLIDATED)
Corporate Overview
IMPORTANT FINANCIAL INFORMATION IMPORTANT FINANCIAL RELATIVE RATIOS
(H in crore)
Sl. No. For The Year Ending 31st March 2015 2014 2013 2012 2011 Sl. No. Ratios 2015 2014 2013 2012 2011
A Related to Assets & Liabilities 1 Debt Equity Ratio

1.i No. of Equity Shares (CIL) of H 10 each 6316364400 6316364400 6316364400 6316364400 6316364400 1.i - Total Debt to Equity 0.01 0.00 0.02 0.03 0.04
1.ii Equity 1.ii - Long Term Debt to Equity 0.01 0.00 0.03 0.04 0.05
1.ii.a Equity Share Capital 6316.36 6316.36 6316.36 6316.36 6316.36 2 Current Ratio 2.65 3.00 3.20 2.46 2.48
1.ii.b Reserve & Surplus 34,026.97 36,075.50 42,144.45 34,124.40 26,988.97
3 Return on Average Net Worth 33.19% 33.28% 39.06% 40.12% 36.79%
1.ii.c Equity (1.ii.a + 1.ii.b) 40,343.33 42,391.86 48,460.81 40,440.76 33,305.33
Statutory Reports
1.ii.d Capital Reserve 9.74 12.60 11.18 12.26 8.87 4 Return on Average Capital Employed 20.34% 21.40% 24.17% 24.41% 30.80%
(excluding issue of bonus shares) 5 Debtor Turnover Ratio (as no. of months) of 1.25 0.79 1.02 1.62 1.46
1.ii.e. Net Worth (1.ii.c - 1.ii.d) 40,333.59 42,379.26 48,449.63 40,428.50 33,296.46 Gross Sales
2.i Long Term Borrowings excl. Current 201.83 171.46 1077.79 1305.35 1333.76 6 Inventory Turnover Ratio (as no. of months) 0.99 1.01 1.14 1.28 1.30
Maturities of Cost of Goods Sold
2.ii Current Maturities of Long term Borrowings 6.38 6.36 227.51 222.03 187.21 7 EBITDA Margin on Net Sales 25.85% 28.15% 30.19% 28.80% 30.54%
2.iii. Long Term Borrowings incl. Current 208.21 177.82 1305.30 1527.38 1520.97 8 Net Profit Margin on Net Sales 19.06% 21.96% 25.41% 23.69% 21.64%
Maturities (2.i. + 2.ii.) 9 Earning Per Share (H) 21.73 23.92 27.63 23.47 17.19
2.iv. Short Term Borrowings 200.11 0.32 0.00 0.00 32.60 10 63.87 67.11 76.72 64.03 52.73
Book Value Per Share (H)
2.v. Total Borrowings (incl. current maturity) 401.94 171.78 1,077.79 1,305.35 1,366.36
11 Market Price Per Share (NSE) (H) 362.90 288.75 309.10 343.90 346.50
(2.i.+2.iv.)
3.i Gross Fixed Assets 44807.98 41479.46 39010.67 38096.41 36714.12 12 Price Earning Ratio (P/E Ratio) 16.70 12.07 11.19 14.65 20.16
3.ii. Accumulated Depreciation/Impairment 28692.94 26695.07 25544.91 24656.12 23870.81 13 Dividend per Share (H) 20.70 29.00 14.00 10.00 3.90
3.iii. Net Property Plant & Eqipment (3.i. - 3.ii.) 16115.04 14784.39 13465.76 13440.29 12843.31 14 Dividend Payout Ratio 95.26% 121.24% 50.67% 42.61% 22.69%
3.iv. Net Other Fixed Assets 5159.37 4315.81 3495.95 2903.38 2057.16 15 Market Capitalisation (H in Crore) 229220.86 182385.02 195238.82 217219.77 218862.03
3.v. Other Non Current Assets 11387.54 9582.53 6954.68 5158.51 4070.31
3.vi. Current Assets 77879.51 75559.62 86379.42 85484.08 66943.21 * The above financials are prior to implementation of Ind As
3.vii. Total Assets (3.i. to 3.vi.) 1,10,541.46 1,04,242.35 1,10,295.81 1,06,986.26 85,913.99
3.viii. Current Liabilities 29409.50 25176.40 26984.41 34700.45 27036.42 Formulas
3.ix. Capital Employed (3.vii - 3.viii.) 81,131.96 79,065.95 83,311.40 72,285.81 58,877.57 1 Value Added = Profit Before Tax + Finance Cost + Depreciation & Amortisation + Employee Benefit Expenses
4.i Trade Receivables 14408.22 5498.55 6257.80 8689.16 12476.27
4.ii Cash & Bank Balances 47268.89 47722.60 60192.17 56271.86 44382.00 2 Equity = Equity Share Capital + Other Equity
5.i Closing Stock of Coal (Net) 4712.16 4154.61 4301.16 4801.14 4439.82 3 Total Debt to Equity = Borowings/Equity
5.ii Closing Stock of Stores & Spares (Net) 1245.17 1167.16 1117.9 1126.45 1038.17
5.iii Closing Stock Others (Net) 226.49 246.3 198.77 143.69 107.62 4 Long Term Debt to Equity = (Long Term Borowings + Current Maturity of Long Term) / Equity
B Related to Proft/Loss 5 Current Ratio= Current Assets / Current Lilabilities
1.i Profit Before Tax 21583.92 22879.54 24979.04 21272.66 16463.24
1.ii Profit After Tax 13726.70 15111.67 17356.36 14788.20 10867.35 6 Return on Average Net Worth (%) = Profit After Tax / Average Net Worth
2.i Gross Sales of Coal 95434.76 89216.86 88281.32 78410.38 60240.90 7 Capital Employed = Total Assets - Current Liabilities
2.ii Net Sales 72014.62 68810.02 68302.74 62415.43 50229.28
2.iii. Other Operating Income 2105.45 1797.50 1548.53 1443.52 1295.71 8 EBIT (Earning Before Interest & Tax) = Profit Before Tax + Finance Cost - Interest Income
2.iv Revenue from Operations (net) 74120.07 70607.52 69851.27 63858.95 51524.99 9 Return on Average Capital Employed = EBIT/Average Capital Employed
(2.ii.+2.iii.)
10 Debtors Turnover Ratio = Average Debtors (net of Provision) /Gross Sales *12
3.i. Interest on Deposits & Investments 5297.89 5566.77 6216.71 5317.77 2964.34
(Interest Income) 11 Cost of Goods Sold = (Total Expenditure -Finance Cost - Write off - Provision-CSR-Stripping Activity Adjustment)
3.ii. Dividend from Mutual Funds 279.60 241.63 140.49 27.97 0.33 12 Inventory Turnover Ratio = Average Inventory of Coal /Cost of Goods Sold *12
3.iii. Other non-operating Income 993.15 1363.48 840.96 747.64 611.76
3.iv. Other Income (3.i + 3.ii.+ 3.iii.) 6570.64 7171.88 7198.16 6093.38 3576.43 13 EBITDA (Earning Before Interest,Tax, Depreciation & Amortisation) = Profit Before Tax + Finance Cost + Depreciation &
3.v. Total Income (2.iv.+3.iv.) 80690.71 77779.40 77049.43 69952.33 55101.42 Amortisation - Interest Income
4 Total Expenditure 59106.79 54899.86 52070.39 48679.67 38638.18
14 EBITDA Margin = EBITDA/Net Sales
4.i Employee Benefits Expenses 29874.12 27914.40 27606.00 26416.50 19869.20
4.ii Cost of Materials Consumed 7256.44 7022.05 6062.11 5504.07 5272.82 15 Earning Per Share = Profit After Tax / Weighted Average Number of Equity Shares
4.iii Power & Fuel 2347.28 2282.23 2333.48 2012.52 1749.48
16 Book Value Per Share = Equity / Number of Equity Shares
4.iv Finance Cost 7.32 58.00 45.17 53.98 73.70
4.v Depreciations & Amortisation 2319.80 1996.41 1812.97 1969.22 1765.40 17 Price Earning Ratio (P/E Ratio) = Market Price per Share /Earning Price per Share
4.vi. Corporate Social Responsibility Expenses 298.10 409.37 140.13 104.12 94.70
18 Dividend Payout Ratio = Dividend Per Share/Earning Per Share
4.vii. Overburden Removal Adjustment 3826.70 3286.56 3201.74 3693.89 2618.47
4.viii. Provisions & Write Off 993.80 1154.53 927.10 1469.84 578.84
5 Cost of Goods Sold (4 - 4.iv.-4.vi.-4.vii.-4.viii.) 53980.87 49991.40 47756.25 43357.84 35272.47
6 EBIT (1.ii.+ 4.iv.- 3.i.) 16293.35 17370.77 18807.50 16008.87 13572.60
7 EBITDA (6+4.v.) 18613.15 19367.18 20620.47 17978.09 15338.00
8 Value added (1.ii.+4.iv.+4.v.+ 4.i.) 53785.16 52848.35 54443.18 49712.36 38171.54
* The above financials are prior to implementation of Ind As
128 129
Night time view of Asia’s Largest Mine SECL GEVRA OCP
Directors’ Report A BRIEF OVERVIEW OF OUR COMPANY Tax of the Company is H 10843.63 crores against
Corporate Overview
previous year of H 9506.86 Crores (restated).
Coal India Limited (CIL), classified as a 'Maharatna'
enterprise under the Ministry of Coal, Government of South Eastern Coalfields Limited (SECL)
India, has its headquarters situated in Kolkata, West Bengal. was incorporated on 28.11.1985 having its
Dear Stakeholders, Limited (RRVUNL) to investigate potential initiatives It holds the title of the largest coal producer globally. registered office at Seepat Road, PO., Bilaspur
totaling up to 4100 MW, incorporating a combination Across eight Indian states, CIL operates in 84 mining areas, Chhattisgarh-495006. It is engaged in Coal
Your Directors’ are delighted to present the 50th Directors of renewable and thermal projects. managing a total of 313 working mines, consisting of 131 production of different Grades. Currently there are
Report, alongside the Annual Standalone and Consolidated underground, 168 opencast, and 14 mixed mines. CIL 41 Underground and 18 Opencast mines. In the
Financial Statements of Coal India Limited for the fiscal year On February 15, 2024, CIL inked a Memorandum of possesses twelve subsidiary companies namely: financial year 2023-24 the company has produced
concluded on 31st March 2024. Understanding (MoU) with Haryana Power Purchase coal of 187.38 MT (previous year 167.01 MT), with
Centre (HPPC) for the provision of 800 MW of power Eastern Coalfields Limited (ECL)
an offtake of 180.60 MT (previous year 160.03
Your Company, on its part, has been maintaining the pace of
Statutory Reports
from CIL's MBPL project to Haryana Discoms under Bharat Coking Coal Limited (BCCL) MT). The Profit Before Tax (PBT) of the Company is
capital spending and project execution, scaling its production, Section-62 of the Electricity Act, 2003. The aim of the
Central Coalfields Limited (CCL) H 9,047.98 Crore against previous year (restated) of H
and optimizing operating costs to improve the value MoU is to formalize and delineate the fundamental 5,210.90 Crore.
proposition for all stakeholders while looking for cleaner ways framework for discussions regarding the power Western Coalfields Limited (WCL)
of doing its business. purchase agreement. Eastern Coalfields Limited, was incorporated on
South Eastern Coalfields Limited (SECL)
01.11.1975 having its registered office in Dishergarh,
In the coming years, CIL aims to enhance value by integrating all Government of India approved equity investment
Northern Coalfields Limited (NCL) Paschim Bardhhaman, Pin-713 333, West Bengal. It is
green and emerging business opportunities while maximizing for establishing: engaged in production of Coal of Grade G3 to G13
the potential of the high-growth coal sector through the Mahanadi Coalfields Limited (MCL)
Currently there are 47 Underground, 22 Opencast
exploration of diverse options and to achieve Net Zero target. 1×660 MW Thermal Power Plant through JV of
Central Mine Planning & Design Institute mines and 10 mixed mines. In the current financial
SECL and MPPGCL.
Limited (CMPDIL) year, 2023-24 produced coal of 47.56 M.T. (P.Y.
1. State of Company Affairs- Snapshots of FY 2x800 MW Thermal Power Plant through MBPL. 35.018) with an offtake of 43.75 MT( PY 35.510). The
2023-24 CIL Navikarniya Urja Limited.
Profit Before Tax of the Company is H 213.49 crores
Coal-to-SNG (Synthetic Natural Gas) Project at CIL Solar PV Limited. against previous year (restated) of H 1280.42 Crores.
The fiscal year 2023-24 has marked a period of notable
ECL command area through a JV of CIL & GAIL.
accomplishments for your Company, characterized by Coal India Africana Limitada (CIAL). Central Coalfields Limited(CCL)was incorporated on
comprehensive performance. The key highlights of Coal-to-Ammonium Nitrate Project at MCL
Bharat Coal Gasification and Chemicals Ltd 05.09.1956 having its registered office in Darbhanga
achievements during the financial year (FY) 2023-24 are command area through a JV of CIL & BHEL House, Ranchi, Jharkhand-834029. It is engaged in
outlined as follows:
Furthermore, CIL has five Joint Venture companies: production of Coal of different Grade of Coking and
Hon’ble Prime Minister inaugurated 8 First
In the fiscal year 2023-24, there was a record-breaking Non-Coking. Currently there are 11 Underground and
Mile Connectivity Projects (FMC) of Subsidiary Hindustan Urvarak & Rasayan Limited,
coal excavation of 773.647 million tonnes, marking 42 Opencast mines in operation at CCL. In the current
Companies as under:-
a 10% increase over the corresponding previous Talcher Fertilizers Ltd., financial year, Central Coalfields Limited produced
period, the highest since inception. CCL- North Urimari 86.054 MT of coal (Previous year 76.087 MT) with
CIL NTPC Urja Pvt. Ltd.,
an offtake of 82.91 MT (Previous year 75.02 MT). The
Whopping coal off-take of 753.52 MTs in 2023-24 SECL-Dipika, Chhal & Baroud Coal Lignite Urja Vikas Private Limited Profit Before Tax of the Company is H 4729.90 crores
against the previous year of 694.689 MT. against previous year (restated) of H 4601.17 Crores.
NCL- Jayant and Dudhichua International Coal Venture Private Limited.
CIL recorded an Overburden Removal (OBR) of Bharat Coking Coal Limited (BCCL) was incorporated
MCL-Bhubaneswari and Lajkura CIL directly oversees the management of the mines in
1,964.144 M.CuM during the fiscal year in comparison on 01.01.1972 having its registered office at Koyla
Assam, specifically North Eastern Coalfields (NEC).
to the corresponding period of 1658.627 M.CuM Bhawan, Koyla Nagar, Dhanbad, Jharkhand-826005.
During FY 2023-24, CIL has planted saplings on an
which is 18% higher. Performance of Subsidiary Companies in Brief It is engaged in production of Coal of Coking, Non-
area of 2167.61 H.a. and registered 1600 H.a. land
under Green Credit Programme. Coking and Semi-Coking Grade. Currently there are
All time high CAPEX of H 23475.41 Crores in FY 2023- Mahanadi Coalfields Limited (MCL) was incorporated
4 Underground, 25 Opencast mines and 3 mixed
24, scaling a 42% increase over the targeted amount on 03.04.1992 having its registered office at Jagruti
Increase in CSR expenses booked in FY 23-24 by 12% mines. In the current financial year i.e., 2023-24, BCCL
of H 16,500 Crores. Vihar Burla, Sambalpur, Odisha 768020. It is engaged
(H 68 Crores) vis-à-vis FY 22-23. produced 41.096 MT of coal (P.Y. 36.18 MT) with an
in production of Coal of Grade G-7 to G-16. Currently,
Exchequer contribution of H 60,198 Crores against offtake of 39.19 MT (PY 35.53 MT). The Profit Before
In the financial year 2023-24, MCL (Mahanadi there are 3 Underground and 15 Opencast mines. In
H 56,524 Crores of FY 2022-23. Tax of the Company is H 2,091.67 crores against
Coalfields Limited) achieved the milestone of the current financial year, MCL produced 206.10 M.T.
previous year (restated) of H 530.19 Crores.
becoming the top coal-producing subsidiary, of coal ( P.Y. 193.26 MT) with an offtake of 199.02 MT(
Procurement via GeM (Goods & Services) rose to
surpassing 200 million tonnes for the first time. P.Y. 192.75 MT). The Profit Before Tax of the Company Western Coalfields Limited (WCL) was incorporated
H 99,305.38 Crores in FY 2023-24, up from H 3,236.97
is H 15589.92 crores against previous year (restated) on 29.10.1975 having its registered office at Coal
Crores in FY 2022-23.
Market Capitalization of CIL achieved a new scale of of H 18789.28 Crores. Estate, Civil Lines, Nagpur - 440001. It is engaged
CIL has bagged 300 MW of Solar Project of Gujrat H 3.25 trillion on 3rd June,2024. in production of G-10 grade Coal predominantly.
Northern Coalfields Limited was incorporated on
Urja Vikas Nigam Limited and project shall be set Currently there are 25 Underground, 35 Opencast
Incorporation of a new Subsidiary Company named 28th November 1985 having its registered office
up in Gujrat Industrial Power Corporation Limited and 1 mixed mines. In the current financial year, WCL
Bharat Coal Gasification and Chemicals Ltd., in at Singrauli, Madhya Pradesh. It is engaged in
(GIPCL)’s Solar Park at Khavda Gujarat. produced 69.113 MT of coal (P.Y 64.283 MT) with an
collaboration with BHEL, with CIL holding a 51% stake. production of Coal of Grade 7 to 13. Currently there
offtake of 70.24 MT (PY 62.15 MT). The Profit Before
CIL entered into a Memorandum of Understanding are 10 opencast mines. In the financial year 2023-24,
Tax of the Company is H 4181.67 crores against
(MoU) with Rajasthan Rajya Vidyut Utpadan Nigam NCL produced 136.15 M.T. of coal (P.Y. 131.17) with
previous year of H 2161.34 Crores (Restated).
an offtake of 137.63 MT( PY 133.51). The Profit Before
132 133
Central Mine Planning & Design Institute Limited was incorporated on 01.11.1975 having its Registered Office at Gondwana Details of subsidiary wise dividend income received is Strike at Basundhara field during July’23 for
Corporate Overview
Place, Kanke Road, Ranchi, Jharkhand-834031. It is engaged in providing consultancy services to Coal India Limited and its given in Annexure 2. nearly the entire month, which hampered coal
subsidiaries and other clients. The Profit Before Tax of the company (F.Y.2023-24) is H 732.84 Crores against previous year despatch from MCL.
2.3 Supplementary Audit of Financial Statements by
(restated) of H 366.95 Crores.
Comptroller and Auditor General of India (C&AG). About 619.7 MT of coal was dispatched to the
North Eastern Coalfields which is has one OC Mines. primary consumer, the power sector. The sector-wise
The comments of C&AG on supplementary audit under
breakdown of coal and coal product dispatches for
Section 143 (6)(b) [and also read with Section 129
2023-24 against the target and last year’s actual is as
2. FINANCIAL PERFORMANCE (4)] of the Companies Act, 2013 of Standalone and
given in Annexure-6.
Consolidated Financial Statements for the Financial
2.1 Financial Results (CIL Consolidated)
Year 2023-24 is enclosed as Annexure 3 along with Single Window Mode agnostic e-auction policy
During the Financial Year 2023-24, your company has recorded a total Profit Before Tax of H 48,812.61 Crores and a Profit Management explanation. has been implemented across coal companies
After Tax of H 37,369.13 Crores. This marks an increase from the figures of H 43,274.60 Crores and H 31,722.98 Crores
Statutory Reports
2.4 Management Explanation on Statutory Auditor’s from 01.03.2023. Presently, all e-auctions are being
respectively as reported in the previous fiscal year of 2022-23. Further details regarding pre-tax profits for each subsidiary
Report conducted on in-house CMPDIL-NIC portal. Based
can be found in Annexure 1.
on customer feedback, necessary amendments in
The Statutory Auditors of the company have given an
Performance Review the auction process/scheme are being carried out
unqualified report [Annexure 3(A) and Annexure 4] on
to make it more user friendly.
Below is a table depicting the comparative performance highlights of Coal India Limited (Consolidated) for the Financial Year the Standalone Financial Statements and Consolidated
2023-24 in contrast to the preceding year. Financial Statements respectively of the company for the During FY’24, a total quantity of 84.4 MT was
financial year 2023-24. However, they have highlighted successfully allocated under e-auction compared
Particulars 2023-24 2022-23 (Restated) certain matters under the “Emphasis of Matters” section. to 53.4 MT during FY’23. The premium over floor
Production of Coal (in million tonnes) 773.647 703.204 price stood at 72% during FY’24 compared to 252%
The emphasis of Matter paragraph point no. (i) of the
Off-take of Coal (in million tonnes) 753.520 694.689 premium fetched in FY’23.
Sales (Gross) (H/Crores) 193907.10 187455.57 audit report on Standalone Financial Statements and
Profit Before Tax (H/Crores) 48,812.61 43,274.60 points (a) and (b) of consolidated Financial Statements, 3.2 Long term demand creation
Profit for the Year (H/Crores) 37,369.13 31,722.98 are explained as under –
Additional long-term demand is stimulated through
Total Comprehensive Income for the period (H/Crores) 36,953.68 31,987.61
Regarding carrying forward of the input tax credit on GST, linkages offered within the following schemes :
Earnings Per Share (H) (Face Value of H 10 per share) 60.69 51.54
the matter has been adequately explained in note 6.2.4
Dividend per Share (H)*(Face Value of H 10 per share) 25.50 24.25 Scheme for Harnessing and Allocating Koyala
of Standalone Financial Statements and Consolidated
Return on Average Capital Employed (%) 27.30% 28.21% (Coal) Transparently in India (SHAKTI), for
Financial Statements.
Return on Average Net Worth (%) 52.07% 61.04% Power Sector notified by the government on
Capital Employed (H/Crores) 1,76,399.72 1,53,657.24 Regarding material accounting policy related to 22.5.2017 and subsequently amended vide
Net Worth (H/Crores) 82,710.91 60,822.80 Stripping Activity, the matter has been adequately MOC letter dated 25.03.2019.
* Dividend per share includes Final Dividend and Interim Dividend for FY 2023-24, final dividend of H 5.00 per share is subject to approval of
explained in note 9.1.2 and 16.8 of Consolidated
Auction of coal linkages to Non-
shareholders in AGM. Financial Statements.
Regulated Sector (NRS) notified by the
Transfer to Reserves 2.2 Dividend Income and Pay Outs Government on 15.2.2016.
General Reserves: The company maintains a pattern of boosting its dividend 3. COAL MARKETING
payouts, thereby providing greater rewards to its SHAKTI
In the fiscal year 2023-24, an amount of H 1,415.27 3.1 Sale of Coal
Crore (compared to H 1,326.58 Crore in the previous shareholders with each passing year. SHAKTI Policy contains provisions for coal supply to various
In the fiscal year 2023-24, the raw coal off-take
year) was allocated to General Reserves from CIL categories of power plants fulfilling different criteria.
In the Financial Year 2023-24, CIL distributed interim reached its peak at 753.52 Million Tonnes (MT),
Consolidated profits. surpassing the 694.68 MT figure from 2022-23.
dividends twice, amounting to H 20.50 (H 15.25 + H 5.25) Until 2022-23, Ministry of Coal (MoC) had recommended
per equity share. Additionally, the Company's Board of This marks an 8.5% growth over the previous for signing of FSA with 9 Thermal Power Plants (TPPs)
Capital Reserves:
Directors has proposed a final dividend of H 5.00 per year, setting new records for off-take and wagon under the provisions of Para A(i) of SHAKTI for an Annual
The Capital Reserve comprises the variance between loading performance. Company-wise target vis-à-
equity share for the same financial year on May 2nd, 2024, Contracted Quantity of 32.3 MT and FSAs have been
investments in subsidiaries and their share capital, vis actual off-take for 2023-24 and 2022-23 are as
subject to approval from shareholders at the Annual signed with 8 TPPs for the ACQ of 31.2 MT, within the
recognized upon consolidation for the issuance of bonus shown in Annexure-5.
General Meeting (AGM). Consequently, the total dividend outer timeline stipulated in SHAKTI policy i.e. 31.3.2022.
shares by subsidiary companies. In the fiscal year 2023-
for the year stands at H 25.50 per share, calculated against Also, on the recommendation of SLC (LT), FSAs have
24, MCL, NCL, and CCL issued bonus shares amounting Several constraints hampered coal dispatches in
the face value of H 10 each, equating to 255% of the face been signed under the provisions of Para B(i) of SHAKTI
to H 3,494.65 crore, utilizing H 96.15 crore from the capital 2023-24, which can be outlined as follows:
value. The Dividend Percentage for the last five year with 14 Central/State Gencos TPPs for 13400 MW for an
redemption reserve and the remaining H 3,398.50 crore
is given below: Constraints in availability of rakes especially in ACQ of 56.9 as on 31.3.2024.
from the General Reserves.
Mahanadi Coalfields Limited (MCL) and South
In case of Central Mine Planning & Design Institute Dividend per eq. In the fiscal year 2023-24, the sixth round of the SHAKTI B
Years Dividend (%)
Eastern Coalfields Limited (SECL).
Limited (CMPDIL), Grant / Funds received under S&T, PRE, share (J Per share) (ii) long-term linkage auction was carried out, resulting in
EMSC, CCDA etc. as an implementing agency and used Production constraints at Rajmahal mine of the successful allocation of 2.7 MT at a levelized discount
2018-19 13.10 131
for creation of assets are treated as Capital Reserve and Eastern Coalfields Limited (ECL) due to land in tariff varying between 12-19 paise/PPA unit (kWh). Till
2019-20 12.00 120
depreciation thereon is debited to Capital Reserve Account. acquisition issues resulting in less coal dispatch date, across the six auction rounds, power plants have
2020-21 16.00 160
The ownership of the asset created through grants lies with during H1 of FY 24. been allocated linkages totaling 38.9 MT. The levelized
2021-22 17.00 170
the authority from whom the grant is received. The balance discounts in tariff offered by the power plants in these six
2022-23 24.25 242.5
Sporadic law and order issues at some of the rounds of auctions range from 1p/kWh to 19 p/kWh.
of grants as on 31st March, 2024 and 31st March, 2023 is H 2023-24 25.50 255
coalfields especially at MCL, CCL & BCCL.
18.87 crore and H 20.13 crore respectively.
134 135
During FY 23-24, fifth round of SHAKTI B (iii) long/medium and State Nominated Agencies stood at 103.4 MTPA as As a result of conscious and continuous measures taken is equivalent to 0.82 months Gross Sales of CIL as a whole
Corporate Overview
term linkage auction was conducted wherein a quantity on 31.03.2024. towards quality maintenance, the gap between the (previous year 0.84 months). Subsidiary-wise break-up of
of 6.6 MT was booked by the successful bidders at an weighted average of declared and analyzed GCV of coal Trade Receivables outstanding as on 31st March 2024 as
average premium of 5% over the notified price. In the 3.4 Consumer satisfaction based on results received till 27.03.2024 for FY 2023-24 against 31st March 2023 are shown in Annexure 8.
five rounds of the auction, conducted till date, linkages 3.4.1 Quality Management is only 121 Kcal/kg which is well within one GCV band.
of about 29 MT have been booked by the power plants. 3.8. Payment of Royalty, DMF, NMET, GST, CESS &
To boost customer satisfaction, particular attention has 3.4.2 Linkage Rationalization others
During 2023-24, under SHAKTI B(iv), LOA for 4.9 MT been dedicated to quality management of coal from the
mine to the dispatch point. Linkage rationalization initiatives to reduce the cost of During the Financial Year 2023-24, CIL and its Subsidiaries
was issued for contracted capacity of 1230 MW as per
transportation of coal and cost of generation of power paid H 60,197.80 crore towards Royalty, DMF, NMET, GST,
bidding of Madhya Pradesh. FSA for 1.5 MT for 293 MW CESS & others levies as per details given in Annexure 9.
To address the concerns of consumers (power Utilities) were continued during the year 2023-24 also. Under
has been signed with successful bidder as per the tariff
regarding coal quality, Standard Operating Procedure the ambit of the linkage rationalization policy notified by
based bidding conducted by Gujarat.
(SOP) for Third Party Sampling was introduced in 2015. the government on 15.5.2018, sources of linkage for a
Statutory Reports
4. COAL PRODUCTION
Coal linkage for quantity of about 24 MT was earmarked Guidelines on Third Party Sampling at the loading quantity of 6.7 MTPA for an IPP was rationalized in 2023-
end – Standard Operating Procedure were issued on 24, yielding an annual potential savings in transportation Raw coal production and production from
from Coal India Limited for a capacity of 4500 MW under
26.11.2015. As per the policy, an independent Third Party cost by about H 580 Crs. underground and opencast mines.
SHAKTI B(v). As per tariff based bidding undertaken by
MoP/agency, 8.9 MT have been booked by the bidders Agency appointed by CIMFR by a transparent process for Production of raw coal was 773.647 Mill Te during 2023-24
undertaking the work of sampling and analysis, of coal
3.5 Coal Beneficiation:
in FY 2023-24. FSAs for 1.4 MT have been signed till against 703.204 Mill Te during 2022-23. Production from
31.03.2024 and FSA signing for the remaining quantity at the loading end on behalf of both the power plant Currently, CIL operates 12 Coal Washeries with a combined Opencast mines during 2023-24 was 96.64% of total raw
is under progress. (consumer) and the coal companies (supplier). CIMFR operable washing capacity of 29.35 MTY. Among these, coal production.
had also been permitted for undertaking of sampling and 10 are dedicated to coking coal, while the remaining 2
Further, under para B (viii-a) covering para B (iii) of SHAKTI analysis of coal at unloading / receipt end by the Thermal handle non-coking coal, with operable capacities of Subsidiary wise production, production from
policy four tranches of short-term linkage auctions were Power Plants. The progress of the Third Party Sampling is 18.35 MTY and 11 MTY respectively. In the fiscal year underground and opencast mines and coking and non-
conducted during FY 23-24 wherein a total of about being reviewed jointly by Joint Secretary (Coal) and Joint 2023-24, the total washed coal production from the coking production are given in Annexure 10.
21 MT quantity was booked by the power plants with Secretary (Thermal). existing coking coal washers amounted to approximately
Washed Coal (Coking) Production- Subsidiary-
average premium of 40% over the notified price. 2.26 MT, marking a 4.8% growth from 2022-23.
Third Party sampling has also been extended to Non- wise production of Washed Coal (Coking) is given
Auction of coal linkages to Non-Regulated Sector (NRS) Power consumers taking coal under different FSAs and Madhuband Washery (5 MTY) commenced in Annexure 10A.
e-auction on optional basis. operations on 29.11.2023.
Tranche VI NRS linkage auction which commenced during Overburden Removal- Company-wise overburden
Feb’23 was completed during FY’24 wherein against an CIMFR has discontinued Third-Party sampling activities To augment the beneficiation capacity of coking coal, removal is disclosed in Annexure 10B.
offer of 32.9 MT a quantity of 26.7 MT was booked by the w.e.f 11.11.2023. CIL is in the process of establishing 3 new Washeries in
successful bidders at an average premium of 78%. BCCL, with a combined throughput capacity of 7 MTY. 5. POPULATION OF EQUIPMENT
On behalf of MOP, PFC has conducted two rounds of Of these, 2 are currently under construction (4.5 MTY).
Tranche VII NRS linkage auction commenced during tender for empanelment of Third Party Sampling agencies The Population of Major Opencast Equipment (Heavy
Furthermore, 5 coking coal washers are being developed
Dec’23 and till March’23 auction for Sponge Iron, Cement and 01 Third party sampling agency during the first round Earth Moving Machinery) as on 01.04.2024 vis-a-vis
in CCL, with a total capacity of 14.5 MTY. Among these,
& CPP subsector were completed wherein against an and 10 Third Party Sampling agencies during the second 01.04.2023 along with their Performance in terms of
one has received Letter of Award (LoA), while two have
offer of 20.3 MT a quantity of 12.6 MT was booked at an round have been empanelled by PFCL. Availability and Utilization expressed as percentage of
received Letter of Intent (LoIs).
average premium of 21%. CIL Norms is disclosed in Annexure 11.
Consumers would be free to take services of any of the CIL is also strategizing to monetize four old washers
New Development under NRS linkage auction: empanelled Third Party Sampling Agencies. About 381 nos. of old and outlived major HEMM have
through asset leasing bundled with long-term coking
been surveyed-off and 46 Shovels, 166 Dumpers, 44
Execution of post bid activities including signing of coal linkage to Steel companies via auction.
At present, 12 Third-Party sampling agencies are Dozers, 9 Drills and 11 Surface Miners were commissioned
FSA is being done through electronic/ digital mode.
empanelled to undertake the job of third-party sampling. Additionally, CIL is constructing a non-coking coal during 2023-24.
Tenure of FSA increased to 10 years from present The list of the Agencies is as under: washery in Ib Valley at Lakhanpur in MCL, with construction
In the Financial year 2024-25, CIL is planning to procure
level of 5 years for all subsectors to ensure sustained Inspectorate Griffith India P Ltd completed and expected commissioning by April 2024.
High Capacity Equipment of more than H 3700 Crores for
supply of coal. Quality Service Solution P Ltd
3.6 Stock of Coal enhanced coal production target in the coming years.
Quality Austria Central Asia P Ltd
3.3 Long term demand committed through FSAs: At the conclusion of the Financial Year 2023-24, the
Cotecna Inspection India P Ltd 6. CAPACITY UTILIZATION
Considering the FSAs executed earlier with the power coal inventory (excluding provisions) amounted to H
plants under the provisions of NCDP and the FSAs KCS Quality Inspection P Ltd 7,545.95 crore (compared to H 6,105.11 crore in the During 2023-24, total volume of coal and overburden
executed under various provisions of SHAKTI, the Ravi Energie P Ltd preceding year), equivalent to 0.69 months worth net handled by CIL was about 2444 M. Cum. The overall
operative linkage for a total quantity of about 583.4 MTPA Mitra SK India P Ltd sales (compared to 0.57 months in the previous year). The system capacity utilization of CIL thus worked out to be
exists with the Power Sector as on 31.3.2024, which is specific value of stock held by each company on March about 93.78%. This is a new high for CIL and surpassing
Superintendence Company of India P Ltd
bound by long term supply commitments through FSAs 31, 2024, and March 31, 2023, is provided in Annexure 7. the coveted 90% capacity utilization was a laudable
excluding bridge linkage commitments. The operative Therapeutics Chemical Research Corporation
achievement. While the UG capacity utilization was
bridge linkage commitments towards power sector Dr. Amin Controllers P Ltd 3.7 Trade Receivables
85.60%, the OC capacity utilization was 93.84%.
stood at 11.8 MTPA as on 31.03.2024, where coal supply SGS India P Ltd (empanelled by CIL) Trade Receivables i.e. net dues outstanding as on 31st
is based on best effort basis. March 2024, after providing H 3,673.52 crore (previous
QCI
year H 2,722.13 crore) for expected credit loss, was
The total FSA commitments for Non-Power consumers H 13,255.75 crore (previous year H 13,060.48 crore) which
including the FSAs of erstwhile regime, bridge linkage
136 137
7. STATUS OF PROJECT IMPLEMENTATION crore. As of now, 15 FMC Projects with a capacity of 200.5 3) Rail Connectivity of Lingaraj SILO with 7.5 System Improvement in Project Monitoring
Corporate Overview
MTPA have been commissioned, while construction is Deulbeda Siding at Talcher Coalfields of CIL is currently executing a variety of projects, ranging
PROJECT FORMULATION
underway for 18 projects totaling 182 MTPA. Phase-I MCL (4.8 KM) to evacuate about 5 MTPA was across Mining, Washery, Rail, FMC, Solar Projects etc. In
7.1 Project Implementation: projects are expected to be completed by FY 24-25. commissioned in May, 2021. order to ensure smooth implementation of such projects,
a) Projects Completed During the year 2023-24: CIL has successfully implemented PS Module of SAP
Moving to the second phase, 9 FMC Projects with a Funded through JVs/ SPVs by CIL:
One coal mining project with sanctioned capacity of ERP and replica of Mine Data Management System
capacity of 57 MTPA are planned, requiring an investment 1) Mahanadi Coal Rail Ltd (MCRL): Angul- Balram
20 Mty and sanctioned capital of H 1783.09 Crores (MDMS) in ERP.
of approximately H 2,500 crore. Construction has rail link (14.22 Km) in Talcher coalfield, Odisha was
was completed during the year 2023-24. Details commenced for 7 projects with a capacity of 34.5 MTPA, funded by SPV of MCL i.e. MCRL (Mahanadi Coal PS Module is a new and integrated Project Monitoring
given in Annexure 13. while the remaining 2 projects are in different stages of Rail Ltd) and commissioned on 14.11.2022. It shall tool that eliminates the need of the MDMS Portal, MS
formulation and approval. Phase-II projects are targeted facilitate evacuation of about 15 MTPA coal. Project and revolutionizes the way CIL monitors and
b) Project started Production during the Year 2023-24:
for completion by FY 25-26. capture the project data.
Statutory Reports
04 projects have started coal production during the 2) Jharkhand Coal Rail Ltd (JCRL): The Shivpur
year 2023-24. Details given in Annexure-13. In the third phase, 17 projects with a total capacity of 292 - Kathautia rail connectivity (49.09 KM) is being All the Mining & Non-Mining Projects are being created
MTPA have been outlined, necessitating an investment of funded by SPV of CCL i.e. JCRL (Jharkhand Coal and monitored in PS Module as per approved SOP of CIL.
c) Status of Ongoing Projects (Costing J 20 Crores & around H 11,500 crore. Construction has been finalized Railway Limited). About 25 MTPA coal from the New projects are centrally released from CIL to ensure
above): for 1 project and initiated for another, while 2 projects are mines of CCL is planned to be evacuated through standardisation and Uniformity in their Project structures
As of 31.03.2024, 119 coal projects with a under the tendering process, and the rest are in various this line. Construction of the rail line is underway & reports, resulting in more structured project monitoring.
sanctioned capacity of 896 Mty and sanctioned stages of formulation and approvals. Phase-III projects and the work progress is about 50%. The line is
capital of H 133576 Crores are in different stages are projected to conclude by FY 28-29. anticipated to be commissioned by June’2025. CIL & its subsidiaries have completed the migration of
of implementation, out of which 78 Projects are on information from MDMS to PS Module since FY 23-24.
Lastly, the fourth phase involves 14 projects with a 3) a. Chhattisgarh East Rail Ltd (CERL) Phase-I: The summarized information can be accessed through
schedule and 41 Projects are delayed. The primary
combined capacity of 74 MTPA, with an estimated East Rail Corridor in the state of Chhattisgarh SAP PS Module & its Dashboard. As on dt. 31.03.2024,
causes for the delay in executing these projects
investment of about H 3,000 crore. Currently, 1 project of 132 Km is being funded by SPV of SECL i.e. there are total no. of 119 ongoing mining projects are
include delays in obtaining Forest Clearance (FC),
with a capacity of 10 MTPA is under the tendering CERL. Main rail corridor between Kharsia to being live in ERP PS Module and updated regularly.
acquiring land possession, and encountering issues
process, and the remaining projects are progressing Dharamjaigarh (0-74 KM) was commissioned
concerning Resettlement and Rehabilitation (R&R).
through various stages of formulation and approvals. on 21st June’2021, spur line between The actionable insights from this detailed project
7.2 Projects Sanctioned (Costing J 20 Crores & above): Phase-IV projects are slated for completion by FY 29-30. Gharghoda to Bhalumunda (13.973 KM) was information are mapped on ERP Dashboard on real-
commissioned on 23rd Feb 2022, Chaal feeder time basis to enable expeditious decision making by the
a) PR/UCE/RPR/RCE sanctioned by CIL Board & Subsidiary These FMC Projects are expected to augment mechanized
line was commissioned on 19.05.2023 and senior management.
Board during 2023-24: evacuation from 151 MTPA to 988.5 MTPA by FY 29-30.
Baroud feeder line was commissioned on
16 coal mining projects having a total capacity of CIL anticipates improvements in coal quality, savings in SAP PS Module is integrated with all modules of SAP
26.06.2023. The project was inaugurated by
170.46 MT/Y (incremental Capacity - 85.66 MT/Y) under-loading charges, and a positive environmental ERP i.e. FICO, MM, HCM etc. and all the ongoing project
Hon’ble Prime Minister on 14.09.2023. Balance
with total sanctioned capital of Rs. 27,087.69 Crore impact through the implementation of these projects. expenditure is being done through PS Module. Major
work of spur line between Bhalumunda to Gare
were approved in FY 2023-24.Details are given features of PS Module have been given below:
7.4 Status of Rail Projects: Pelma and Durgapur feeder line are in progress.
in Annexure 13.
The overall work progress is about 91%. It a. Rapid Project Bill Payment Cycle
CIL identified 7 Railway Projects for coal evacuation, with
b) Non-Mining Projects sanctioned by CIL & Subsidiary shall evacuate around 65 MTPA of coal and
3 funded directly by CIL on a deposit basis and 4 funded b. Online Budgeting Control
Board during 2023-24: anticipated to be commissioned by Dec’2024.
through Joint Ventures (JVs) or Special Purpose Vehicles
c. Integrated Project Monitoring
5 Non-Mining projects with a sanctioned capital of (SPVs) by CIL. Here’s the status of these projects:Funded b. Chhattisgarh East Rail Ltd (CERL) Phase-II:
H 1545.24 Crores were approved during 2023-24. by CIL on Deposit Basis: East Rail Corridor in the state of Chhattisgarh d. Monitoring of Full Project Lifecycle
Details are given in Annexure 13. of 62.5 Km, between Dharamjaigarh and Urga
1) Tori-Shivpur New BG Line: Double line (44.37 KM) e. Standardized Project Structure
is being funded by SPV of SECL i.e. CERL.
7.3 Key Strategies: was funded by CIL and commissioned in December, f. Real-time Dashboard
The financial closure has been achieved on
2019. Tripling of Tor-Shivpur Line has been
Strategies for Coal Evacuation: 28.08.2023. Land acquisition is in advance g. Bilingual Alerts communication in mail
commissioned and inaugurated by Hon’ble Prime
The company had implemented the following strategies stage. Total private land (290.689 Ha) has
Minister on 01.03.2024. This line shall facilitate the h. Project Issues Monitoring
for the development of coal evacuation infrastructure: been acquired and working permission for
coal evacuation of about 100 MTPA from the North
forest land has also been obtained. The i. Comprehensive Project Reports available in Excel
Karanpura coalfield of CCL.
First Mile Connectivity (FMC) Projects: CERL Phase-II works are anticipated to be & PDF
2) Jharsuguda –Barpali- Sardega New BG Line: commissioned by Aug’2026.
CIL’s flagship initiative, the ‘First Mile Connectivity j. Important Document Saving & Retrieval at WBS Level
Projects,’ encompasses 75 identified projects with Single line (52.41 KM) was funded by CIL and
4) Chhattisgarh East West Rail Ltd (CEWRL): East
a combined capacity of 837.5 MTPA, requiring an commissioned on April, 2018. Doubling of k. Security & Access Control of Project Data
West Rail Corridor in the state of Chhattisgarh is
estimated investment of approximately H 24,750 crore Jharsuguda-Barpali-Sardega Rail Line has been
being funded by SPV of SECL i.e. CEWRL and under l. Fiori Web Application for Data entry through Web
for implementation across four phases. These projects commissioned and inaugurated by Hon’ble Prime
execution between Gevra Road and Pendra Road of Browser
aim to enhance the mechanized coal transportation and Minister on 03.02.2024. Construction of loading
about 135 Km and shall facilitate to evacuate about
loading system. bulbs at Barpali and flyover complex at Jharsuguda m. Integration with National Coal Portal of MoC
65 MTPA of coal from the mega projects of Korba
is underway and targeted to be completed by
coalfield. Construction works under execution 7.6 One Billion Coal Production Programme:
In the first phase, 35 FMC Projects with a capacity of 414.5 June’2026. This shall enhance its evacuation
and work progress is about 65%. This rail line is
MTPA were planned, with a capital investment of H 10,750 capacity to evacuate about 65 MTPA. Currently, coal stands as the predominant energy source
anticipated to be commissioned by December, 2024.
in the domestic market, with CIL supplying over 80% of
138 139
the total domestic coal production. Consequently, CIL b) Energy Efficient ACs –1968 energy efficient 9. CAPITAL EXPENDITURE 2. Talcher Fertilizers Ltd (a Joint Venture of CIL,
Corporate Overview
holds the responsibility to meet the country’s energy ACs have been replaced / installed in different GAIL, RCF and FCIL):
In the Financial Year 2023-24, the overall Capital
demands and significantly influences domestic energy subsidiaries of CIL. The Joint Venture was established to
Expenditure amounted to H 23,475.41 Crores, compared
consumption dynamics. With future domestic demand in construct a Surface Coal Gasification
c) Super Fans – 43407 high energy efficient to H 18,619.27 Crores in the previous year. The Capital
mind, CIL has formulated a strategic production roadmap (SCG) based integrated urea complex
super fans have been installed in different Expenditure incurred during 2023-24 represented
aimed at achieving a coal production milestone of 1 with a capacity of 1.27 MTPA at Talcher,
subsidiaries of CIL. 142.28% of the Budget Estimate (BE), an increase from
billion tons in FY 2025-26. This plan entails optimizing utilizing coal sourced from the nearby
112.84% in 2022-23. Detailed subsidiary-wise information
production across all CIL subsidiaries and delineating Talcher coalfields. This initiative marks a
d) E-Vehicles – 151 e-vehicles have been is provided in Annexure 12.
various enabling activities necessary to realize this significant milestone, paving the way for
deployed in different subsidiaries of CIL.
ambitious target. These activities encompass securing the coal gasification sector’s development
statutory clearances, land acquisition and possession, e) Energy Efficient Water Heaters – 402 energy 10. FUTURE OUTLOOK
in the country. The project involves
ensuring rehabilitation and resettlement (R&R), procuring efficient water heaters have been installed at
Statutory Reports
To fulfill the nation’s coal demand and achieve ‘Atmanirbhar gasifying high ash coal blended with
equipment, and enhancing evacuation infrastructure different places in CIL subsidiaries Bharat’ (self-reliance) while reducing unnecessary coal pet-coke up to 25% to produce syngas,
such as rail lines and coal handling plants. imports, CIL aims to increase its production to 1 BT by 2026- which will then be converted into neem-
f) Energy Efficient Motors – 330 existing old
27 from the current level of 773.647 MT. CIL has already coated urea. Implemented on a partial
motors have been replaced with energy
8. CONSERVATION OF ENERGY identified all necessary resources, including major projects Lump Sum Turn Key (LSTK) basis, the
efficient motors in different subsidiaries of CIL.
contributing to this production goal, and addressed related project’s revised estimated cost stands at
Conservation of energy always remains a priority
g) Auto Timers in Street Lights – 1316 auto issues such as environmental clearances, land acquisition, H 17,080.69 crore, to be financed through
area and CIL/Subsidiaries have extensively exercised
timers have been installed at different places in and transportation constraints. With the active support of a debt-equity structure of 60.12:39.88.
various measures towards reduction in specific
CIL subsidiaries. the Ministry of Coal (MoC) and other stakeholders, CIL is
energy consumption. Following the recommendations put
committed to realizing this 1 BT production plan. However,
B. Improvement in Power Factor - Almost all the areas future production and supply will be contingent upon forth by TFL, the CIL Board approved the
8.1 Energy Consumption scenario
of the subsidiary companies have maintained Power demand. The proposed capital expenditure for the fiscal project cost of H 17,080.69 Crores in April
Coal Production has increased by 10 % in 2023-24 2023. Additionally, the Board consented
Factors from 0.90 to 0.99 during 2023-24 by installing year 2024-25 is set at H 15,500 Crores. Additionally, in line
compared to 2022-23 and there is increase in OB to augment CIL’s equity investment in
capacitor banks of appropriate KVAR rating. During with its investment plan, CIL intends to allocate a significant
removal by 312 MM3. Electricity consumption in CIL as a TFL from the initially sanctioned H 1,184
2023-24, 20775 KVAR of capacitor banks have been portion of funds to diversification projects, including Solar
whole in 2023-24 was 4273.61 million units compared to crores to the revised requirement of H
procured and installed at subsidiaries. Power, Thermal Power Plants, Revival of Fertilizer Plants,
4598.78 million units in 2022-23, showing a decrease of 2,169.67 crores (± 10%), contingent upon
Surface Coal Gasification (SCG), and Coal Bed Methane
7.61%. Total amount paid towards energy Bill in 2023-24 C. Installation of Ground & Roof Mounted Solar Power obtaining approval from the Government
(CBM), during 2024-25.
was H 3633.03 crore against H 3764.16 crore in 2022-23, a Plant in different command areas of CIL: of India for equity infusion surpassing the
decrease of 3.61%. 30% Net Worth Limit. Subsequently, in
Additional ground solar capacity added during 11. DIVERSIFICATION
2023-24 – 70.00 MWp February 2024, the Cabinet Committee
In terms of total coal production, specific energy
A. Diversification into Chemicals & Fertilizers on Economic Affairs (CCEA) greenlit
Consumption for CIL as a whole, during 2023-24
Additional roof top solar capacity added Sector CIL’s additional equity investment in
was 5.72 KWh/T as against 6.54 KWh/T during 2022-
during 2023-24 – 1.629 MWp To bolster the “Food Security of the Nation,” CIL TFL, surpassing the stipulated ceiling
23 with an overall decrease of 14.41%.
partnered with leading Maharatna and Fertilizer mandated by the DPE guidelines.
8.3 Solar Energy generation:
In terms of composite production (in M3), Specific sector CPSEs to form Joint Ventures in 2015
CIL possesses approximately 82.68 MW of solar capacity As of March 2024, the project has
Energy Consumption during 2023-24, for CIL as a and 2016. These partnerships aimed to set up a
across various subsidiaries, resulting in the generation of attained an overall construction progress
whole, was 1.76 KWh/m3 vis-à-vis 2.19 KWh/m3 combined total of four (04) state-of-the-art fertilizer
20.219 million units for internal consumption. CIL has an of approximately 58% and is projected to
during 2022-23 with an overall decrease of 24.43%. projects spanning Central and Eastern India.
ambitious plan of installing 3 GW of renewable energy by commence operations in 2025.
8.2 Energy Conservation measures 2025-26 and 5 GW by 2029-30 on pan India. 1. Hindustan Urvarak & Rasayan Ltd (a Joint
B. Forward Integration into Thermal Power
Below are some notable measures undertaken by CIL/ Venture of CIL, IOCL, NTPC, FCIL and HFCL):
8.4 Anticipated benefit of Carbon Neutrality due to Generation:
Subsidiaries for energy conservation: The JVC was mandated for setting up
solar projects & Energy Efficiency Measures:- 1. MBPL (an SPV of MCL): The proposed
of natural gas based urea projects at
A. Energy Efficiency Measures in 2023-24:- In 2023-24, the implementation of energy efficiency 2×800 MW (Phase-I) Thermal Power Station
Gorakhpur (UP), Sindri (Jharkhand) and
measures resulted in saving approximately 40.38 in Odisha is one such potential opportunity
a) Use of LED lights - High wattage luminaries / Barauni (Bihar). The Gorakhpur Project
million units of electrical energy, contributing to a that has synergy and syncs well with CIL’s
conventional light fittings have been replaced started commercial operation in 2022,
reduction of around 33,108 tonnes of CO2 per annum. thermal power generation diversification
with low power consuming LEDs of appropriate whereas the Projects at Barauni and Sindri
goal. ‘Mahanadi Basin Power Ltd’ (MBPL) will
wattage in majority of the places for quarry commenced in 2023.
In 2023-24, the total solar energy generated implement the proposed project which is
lighting, UG mine lighting, street lighting,
amounted to 202.19 lakh units. Consequently, Gorakhpur plant was dedicated to the envisaged to be a Supercritical Thermal Power
office and other work places, townships etc.,
this solar energy generation has led to a nation by Hon’ble Prime Minister of India Project. In June-2023, the CIL Board accorded
thereby resulting in huge saving in electricity
reduction of approximately 16,580 tonnes of CO2 in FY 2022-23, whereas the plants at Sindri its ‘in-principle’ approval to the pre-feasibility
consumption. 1,12,112 LED lights (ECL-2508,
emissions per annum. and Barauni were dedicated in FY 2023-24. studies for setting up of 2x800 MW (Phase-I)
MCL-20286, WCL-20821, NCL-31364, BCCL-
Thermal Power Station at a promising site near
9611, SECL-12272, CCL-14036 & CIL HQ- 1214
All three plants are running at full load, Bhedabahal Village, Dist: Sundargarh, Odisha.
nos.) of different wattage rating have been
and producing 4000TPD each. HURL has In this connection, a Tripartite Agreement
installed during 2023-24.
recorded a profit of INR 1324.66 crores (TPA) for execution among IDCO, MBPL and
for the FY 2023-24. OIPL has been principally agreed by the three
140 141
transacting parties for transfer of land to MBPL. On 24.01.2024, Cabinet Committee on Economic CIL intends to take up activities in various sectors of The shift towards electric vehicles (EVs) and energy storage
Corporate Overview
MBPL project would leverage the availability Affairs (CCEA) has approved proposal for equity critical mineral value chain: systems worldwide is driving a rapid surge in demand for
of coal at pit-head from MCL’s mines in Odisha investment by CIL for setting up of Coal-to- lithium-ion batteries, which heavily depend on essential raw
to set-up a successful venture which would Ammonium Nitrate Project at MCL command area Critical Mineral Mining (by collaboration/ materials such as lithium, nickel, cobalt, and graphite. Drawing
cater to the growing demand of power of through a CIL-BHEL JV and Coal-to-Synthetic Natural standalone) upon its extensive mining know-how, extensive operational
the country in the coming future. The Project Gas Project at ECL command area through a CIL- presence, and financial capabilities, CIL has the opportunity
Midstream/Downstream Processing (by
has received approvals from CCEA for equity GAIL JV. CCEA also approved for Equity Investment to seize these emerging market prospects and establish
collaboration/standalone)
investments beyond the ceiling mandated by by CIL beyond 30% of its Net-worth in the JVs. itself as a prominent figure in the growing battery materials
DPE. To ensure offtake of power, so far CIL has Clearances of NITI Aayog and DIPAM have been Setting up end product manufacturing facility sector. This strategy of diversification not only presents
signed a Memorandum of Understanding with received for formation of the JVCs between CIL & (by collaboration/standalone) avenues for additional revenue but also strengthens CIL's
Assam Power Development Company Limited BHEL and CIL & GAIL. CIL-BHEL JV Agreement (JVA) resilience and competitiveness over the long run in the ever-
(APDCL) and Haryana Power Purchase Centre signed on 28.02.2024. Subsequently, CIL Board in CIL is actively seeking potential collaborations changing energy sector.
Statutory Reports
(HPPC) to facilitate a basic framework for its 463rd Meeting held on 26.03.2024 approved for in the Research and Development sector to
mutual discussion, deliberation on all aspects incorporation of JVC between CIL & BHEL. As of develop advanced technologies and methods for Synergies between CIL’s Existing Capabilities and the
for supply of from the Project operated by May-2024, the JVC has been incorporated under the more efficient exploration, mining, processing, New Sectors
MBPL on a non-exclusive basis. Discussions are name of Bharat Coal Gasification and Chemicals Ltd. and recycling of critical minerals. Such efforts Coal India Limited (CIL) possesses a wealth of expertise and
underway with other States for sale of power (BCGCL). Concurrently, to fast-track the CIL-GAIL JV would enable CIL to establish a commercial- resources that can be leveraged to diversify into the Lithium,
from MBPL project. project, draft JVA is under finalization. scale processing plant upon acquiring the Nickel, Cobalt, and Graphite sectors.
necessary assets.
2. SECL-MPPGCL JV: This is another strategic WCL Project: As the world's largest coal producer, CIL has well-
vertical where CIL is planning for diversification. Currently, CIL is engaged in identifying and exploring established mining operations, infrastructure, and a
Based on an prefeasibility study undertaken through
Through our subsidiary South Eastern opportunities to acquire critical mineral assets both skilled workforce that can be adapted to extract and
M/s PDIL, it was being explored to set up of Surface
Coalfields Limited (SECL), we envisage to domestically and internationally. To acquire assets process these critical minerals.
Coal Gasification based Ammonium Nitrate Plant at
partner with MPPGCL to form a separate JV for within India, CIL is participating in critical mineral
the pit head of Juna Kunada Opencast Mine of Majri
setting up the proposed 1×660 MW expansion auctions conducted by the Government of India. Additionally, CIL's extensive experience in logistics,
Area. A tender was invited on 06.03.2023 to set
project at the existing premises of Amarkantak Meanwhile, for potential acquisitions abroad, transportation, and supply chain management can
up the plant under BOO mode of implementation.
Thermal Power Station (ATPS), Village Chachai, the company has entered into Non-Disclosure be valuable in efficiently delivering these materials to
After several round of extension, it was opened
Madhya Pradesh. Coal to the said plant will Agreements (NDAs) with asset owners and is domestic and global markets.
on 05.12.2023 and no bids were received
be supplied from SECL by means of a fresh subsequently evaluating these potential assets.
against the tender. Accordingly, now it has been Furthermore, CIL's existing liasioning with government
linkage (to be applied by JVC). The Project decided to set up the project under LSTK mode of E. DIVERSIFICATION INTO LITHIUM, NICKEL, agencies, regulatory bodies, and research institutions
has received approvals from CCEA for equity implementation with Synthetic Natural Gas (SNG) as COBALT AND GRAPHITE SECTORS can facilitate the necessary approvals, permitting, and
investments beyond the ceiling mandated by final end-product. technical support required for successful diversification.
DPE. Further, the JVA has been approved by Rationale for Diversification
CIL Board and Govt. of MP. D. Venturing into Critical Minerals Value Chain: Amidst the dynamic shifts in the global energy sector, The company's strong financial position and access to
As the global economy shifts away from fossil Coal India Limited (CIL) encounters challenges capital can also enable the necessary investments in
C. Forward Integration into Coal-to-Chemical
fuels, there is a rising demand for critical minerals that underscore the need for diversification into exploration, development, and processing facilities for
Projects:
like lithium, cobalt, nickel, graphite, and rare burgeoning battery materials sectors such as these new mineral resources.
Coal gasification has the potential to generate lithium, nickel, cobalt, and graphite.
earth elements, crucial components for batteries,
various energy, chemical, and petrochemical Importantly, CIL's deep understanding of the Indian
electronics, and clean energy technologies. This
products, many of which are currently imported. energy and industrial landscape can provide a solid
surge in demand presents abundant business
Given the ample coal resources within the country, foundation for expanding into the emerging markets for
opportunities across the critical mineral value chain. Mitigates the impact of steady
the Government of India has opted to actively Lithium-ion batteries, electric vehicles, and renewable
With the increasing adoption of renewable energy decline in coal demand.
encourage coal gasification on a large scale. energy technologies.
and advanced clean technologies worldwide, CIL
Hon’ble PM has envisioned gasification of 100 MT
is embarking on a path to diversify into this sector, By leveraging these synergies, CIL can potentially achieve a
coal by 2030. Aligned with this vision, CIL intends to Potential for exponential growth
seeking new avenues for revenue generation. To competitive advantage and create new revenue streams to
implement two projects through JV and one project due to demand for Li- ion batteries.
underscore its commitment to this critical mineral complement its core coal business.
in standalone basis. M/s BHEL and M/s GAIL have
strategy, CIL has revised its Memorandum of
Diversification
been identified as JV partners for SCG projects Potential Benefits of CIL’s Diversification
Association to include provisions related to the
at MCL and ECL respectively. Other project on Acts as a hedge against
critical minerals business value chain. 1. Reduced Reliance on Coal:
standalone basis has been identified in WCL. volatile coal market.
By leveraging its extensive mining expertise and By diversifying into the lithium, nickel, cobalt, and graphite
MCL & ECL Projects: sectors, Coal India Limited (CIL) can reduce its heavy
infrastructure, Coal India can seize opportunities CIL’s existing mining expertise,
Earlier in April-2023, the CIL Board accorded its ‘in- in this burgeoning market, ensuring sustainable operational footprint and financial reliance on coal, which faces increasing environmental
principle’ approval to the pre-feasibility reports for growth and mitigating potential risks associated with resources can be leveraged. scrutiny and market volatility. Expanding into critical
setting up of these projects with BHEL and GAIL. The a decline in coal demand. This strategic initiative will minerals essential for the global energy transition can
Board also approved to initiate necessary activities also contribute to India’s objective of achieving self- help CIL future-proof its business and capitalize on
Aligns closely with Government
for preparation of Detailed Feasibility Reports reliance in critical minerals, reducing reliance on emerging growth opportunities.
targets and INDCs.
(DFRs) of the respective projects. imports, and enhancing national security.
142 143
2. Access to New Markets: critical minerals, reduce its exposure to coal market risks, Projected Growth in Demand for these Critical Minerals
Corporate Overview
Venturing into these new sectors will open up access to and explore new avenues for growth and profitability. The global demand for lithium, nickel, cobalt, and graphite is expected to surge in the coming years, driven primarily by the rapid
rapidly growing global markets for lithium-ion batteries, This can lead to improved financial performance and transition towards renewable energy and the growing adoption of electric vehicles (EVs). According to Deloitte and Bloomberg
electric vehicles, renewable energy storage, and other increased shareholder value over the long term. Analysis, the demand for these critical minerals is projected to increase significantly by 2030.
high-tech applications. This can provide CIL with a more Global Demand and Supply Trends for Lithium, Nickel,
diversified revenue stream and reduce its dependence Cobalt and Graphite Critical Battery Minerals Other
on the domestic coal market. and Aluminium Metal Minerals
The global demand for critical minerals like lithium, nickel,
3. Leveraging Existing Expertise: cobalt, and graphite has been rising rapidly in recent years,
driven primarily by the growing adoption of electric vehicles Lithium Phosphorus
CIL's expertise in mining, logistics, and project
(EVs) and the need for these materials in the production of
9X 13X
management can be leveraged to establish a strong FY20-FY30 FY20-FY30
lithium-ion batteries. According to data from the International Demand Growth Demand Growth
Statutory Reports
presence in the lithium, nickel, cobalt, and graphite
Energy Agency (IEA), the global demand for lithium is expected
sectors. The company's established infrastructure, supply
to increase by over 40 times by 2040, while the demand for
chain, and workforce can help expedite the diversification Nickel Iron
process and create synergies with the new business lines.
nickel, cobalt, and graphite is projected to grow by 19 times, 14X 13X
21 times, and 25 times, respectively, during the same period. FY20-FY30 FY20-FY30
Demand Growth Demand Growth
4. Enhanced Competitiveness:
Diversification can strengthen CIL's competitive position
Cobalt Copper and Graphite
by allowing it to capitalize on the growing demand for 3X 10X
FY20-FY30 FY20-FY30
Demand Growth Demand Growth
Potential critical minerals landscape in 2030 will be driven by energy transition and battery storage
Aluminium Manganese
Specialty Electronics and 14X 3X
FY20-FY30 FY20-FY30
Steel related sectors Demand Growth Demand Growth
Energy Fertilizers The surge in demand is primarily driven by the global push for decarbonization and the shift towards renewable energy sources,
Transition such as solar, wind, and energy storage systems, all of which rely heavily on these critical minerals. Additionally, the growing
EV market is expected to be a significant driver of this demand, as lithium-ion batteries used in EVs require large quantities of
these materials.
Major Uses of
Potash/ Importance of these minerals for global energy transition
Mineral Under Graphite Vanadium Nickel Cobalt REES Copper Phosphorite Tungsten PGE
Glauconite
Auction The minerals of Lithium, Nickel, Cobalt, and Graphite are essential for powering the global transition to clean energy apart from
Energy Storage their traditional uses.
(Batteries, NMC Cells)
Specialty Steel Lithium Nickel and Cobalt Graphite
Electronics
Fertilizers
A key component in Manufacturing high A vital anode material in

rechargeable batteries for EVs, performance Li-ion batteries. Li-ion batteries.
Energy Storage Systems and Also being used in fuel cells
On the supply side, the production of these critical minerals has struggled to keep pace with the surging demand, leading to Consumer Electronics. and solar panels.
concerns about potential shortages and price volatility. The United States Geological Survey (USGS) estimates that the global
lithium reserves are sufficient to meet the projected demand for the next 50 years, but the production of lithium is concentrated
in a few countries, with Chile, Australia, and China accounting for the majority of the global supply. Similarly, the cobalt supply As the world moves away from fossil fuels towards renewable energy sources, the demand for these critical minerals is expected
is heavily dependent on the Democratic Republic of Congo, which produces over 70% of the world's cobalt, and the nickel and to surge. Electric vehicles are rapidly gaining market share, and the expansion of renewable energy infrastructure such as solar
graphite markets are also characterized by a high degree of geographical concentration leading to supply side constraints. and wind farms will further drive up the need for energy storage solutions reliant on lithium-ion batteries. Ensuring a reliable and
sustainable supply of these minerals is crucial for the success of the global energy transition and meeting climate change goals.
Government Initiatives
The regulatory environment surrounding the critical minerals of Lithium, Nickel, Cobalt, and Graphite is evolving rapidly, with
governments around the world taking proactive steps to secure domestic supplies and promote sustainable extraction and
processing. In India, the government has recognized the strategic importance of these minerals for the country's economic and
energy security, and has implemented several initiatives to encourage investment and development in these sectors.
144 145
The Ministry of Mines has established the Geological Survey of India (GSI) to map and assess the country's mineral resources, F. Signing of key Agreements / MoUs required to be rehabilitated from 138 unstable
Corporate Overview
including potential deposits of Lithium, Nickel, Cobalt, and Graphite. locations. Construction of 12,976 houses (as per
1. On 15 February 2024, CIL signed a
DPR) out of approved 29,000 houses have been
The government has also introduced incentives and policy reforms to attract private investment in mineral exploration and Memorandum of Understanding (MoU) with
taken up by Housing Dept., Govt. of WB for shifting
mining, such as simplified licensing procedures, tax benefits, and the allowance of 100% Foreign Direct Investment (FDI) in Haryana Power Purchase Centre (HPPC) for
of non-ECL families. Of these, tender for 1904
the mining sector. supply of 800 MW of power from MBPL project
flats at Namokeshia mouza had been fore-closed
of CIL to Haryana Discoms under Section-62 of
due to resistance of local people. Construction of
Additionally, the government has launched the National Mineral Policy 2019, which aims to promote the sustainable the Electricity Act, 2003. The MoU’s purpose is
further 768 flats had been dropped due to land
and responsible development of the mining industry, with a focus on environmental protection, social inclusion, and the to formalize and define the basic framework of
problem. Out of availability of encumbrance free
fair distribution of economic benefits. The policy also emphasizes the importance of R&D, technology adoption, and skill discussions of the power purchase agreement.
land for 10304 flats, construction of 160 flats had
development to enhance the country's capabilities in the critical minerals sector.
2. On 28 February 2024, CIL has executed a Joint already been completed & handed over to ADDA
Initiatives such as FAME and FAME-II are also boosting demand for these critical minerals. Venture Agreement (JVA) with Bharat Heavy for shifting. Shifting of 145 NLTH houses from 01
Statutory Reports
Electricals Limited (BHEL) for setting up of most vulnerable location had been done by ADDA
Challenges and Risks Associated with Diversification into critical mineral Coal to Ammonium Nitrate project in MCL. The till date. At present construction of 7472 flats are
Diversifying Coal India Limited's (CIL) business into new sectors such as Lithium, Nickel, Cobalt, and Graphite is not without its shareholding of CIL and BHEL in the JVC shall ongoing at 02 resettlement sites, out of which
challenges and risks. be 51% and 49% respectively. construction of 1984 houses have been completed
in all respect and balance 5,488 no. of houses
Unfamiliar Regulatory Environment 3. On March 10, 2024, CIL entered into a are in different stages of construction. Tender for
Memorandum of Understanding (MoU) with unfinished construction works of further 2672 flats
Rajasthan Rajya Vidyut Utpadan Nigam Limited at 02 sites had been floated by Housing Dept.
Especially in overseas asset acquisition. (RRVUNL) to explore the potential of jointly
B. Summarized Status of Implementations of
Might need handholding to understand foreign rules and regulations. undertaking initiatives totaling up to 4100 MW.
This collaboration entails the formation of a Jharia Master Plan (In the leasehold of BCCL):
Joint Venture (JV) company between RRVUNL 34 sites had been identified as fire-affected zone,
Competitive Landscape
and CIL, encompassing a combination of as per survey report by National Remote Sensing
renewable and thermal projects. These Centre (NRSC) in 2018. Later, as per NRSC study
Various global players are vying for market share. projects include Solar Power Projects at Solar report, 2021-2022, 27 sites have been identified as
Parks in Bikaner, Pumped Storage Projects fire-affected locations.
Lithium- Albemarle, SQM, Livent, and Ganfeng Lithium
(PSP) near Kota, Wind Projects in Jaisalmer,
Nickel- Vale, Norilsk Nickel, and Glencore are the dominant producers and a Thermal Power Project at a suitable pit- At present, Out of these 27 patches, 16 are
Cobalt- Glencore, Eurasian Resources Group, and Sherritt International and China Molybdenum and Gecamines head location of CIL. As an initial step, CIL economically viable (assessed by CMPDIL) as the
Graphite- Syrah Resources, Energizer Resources, and Triton Minerals are some of the leading producers, alongside Chinese will conduct Pre-Feasibility Studies for these total cost of digging out the fire is less than the
players like Heilongjiang Aoyu Graphite and Qingdao Tianshengda Graphite. projects to assess their viability. Additionally, sale value of the coal recovered in the process and
any further collaborative opportunities agreed therefore the expenditure is borne by BCCL. Work
Financial Implications upon by both parties will also fall under the has been awarded and started at 15 locations. For
scope of the MoU. 1 location Work has been awarded in MDO mode
on Revenue sharing basis. LOA has been issued on
Capital intensive nature of Mining Industry. 21.03.2023. Preparatory work is under progress.
12. MASTER PLAN FOR DEALING WITH FIRE,
Along with long gestation period. SUBSIDENCE AND REHABILITATION Out of balance 11 locations, as per latest report
Can strain our financial resources. of NRSC (2021-22) at 10 locations fire has shown
The Government of India sanctioned the Master Plan for
Volatilty and Cyclicality of global commodity prices can impact our financial stability and profitability. addressing fire, subsidence, and rehabilitation issues decreasing trend or marginal fire. Hence these
within the leasehold areas of Bharat Coking Coal Limited locations had been taken up to be dealt by
(BCCL) and Eastern Coalfields Limited (ECL) on August surface blanketing out of which blanketing has
Technological Risks
12, 2009. The estimated investment for Jharia Coalfields been completed at 6 locations. The process of
was H 7,112.11 Crore, while for Raniganj Coalfields it was H digging out the fire at remaining 1 site is found to
Technical uses of these minerals are changing very fast. 2,661.73 Crore. The implementation period for the Master be economically unviable (assessed by CMPDI) for
It is imperative to keep ourselves abreast of recent innovations. Plan was set at 10 years for ECL and 12 years for BCCL. which proposal has been prepared with requirement
The Jharia Rehabilitation and Development Authority of Viability Gap Funding (VGF).
Some minerals may looses their vitality
(JRDA) and the Asansol Durgapur Development Authority
Important to track such changes. BCCL has taken up construction of 15,713 houses
(ADDA) have been designated as the implementing
Need to invest heavily in R&D. for the shifting of BCCL families. Till date 11,944
agencies responsible for rehabilitating non-BCCL and
houses have already been constructed and 4,436
As per IEA, the extraction is energy intensive, cleaner technologies need to evolve non-ECL individuals as outlined in the Master Plan.
families have been shifted. Due to superannuation
A. Summarized Status of Implementations of of BCCL employees, shifting of only 7,713 BCCL
Raniganj Master Plan (in the leasehold of ECL): families are required at present.
Ensuring a balanced distribution of personnel, infrastructure, and investment between its existing and emerging businesses will
be pivotal for CIL to sustain its competitive advantage in the coal market while simultaneously solidifying its position in the critical There are 03 unstable locations under ECL which As per decision of BCCL Board, 8,000 houses are to
minerals sectors. were already vacated & families were shifted. be handed over to JRDA for non BCCL families and
As per the demographic survey report provided same has been conveyed to JRDA.
by ADDA, around 29,000 non-ECL families are
146 147
Construction of 18,272 houses for non-BCCL In letters dated January 18, 2023, and February 22, c) Blacktopping/ Concrete & repairing and irrigation purpose benefiting more than
Corporate Overview
families have been taken up by JRDA out of 54,159 2023, the Ministry of Coal (MoC) communicated that of coal transportation roads and 11.62 Lakh people in 857 villages.
houses as per approved Master Plan. Till date, CIL is authorized to utilize funds from its remaining strengthening of haul roads.
construction of 14,874 houses have completed and balance for their ongoing commitments related to Mine Water Management:
2,827 families shifted. Balance 3,398 houses are the Raniganj Master Plan until the approval of the d) Deployment of 279 trolley mounted and 137
Mine Discharge Treatment Plants (MDTP) are set
under different stages of construction. revised Master Plan. Consequently, CIL disbursed H mobile fog cannon sprinkling system.
up in mines to treat discharged mine water on
300 Crore to ECL in March 2023 for the rehabilitation the surface for secondary treatment. The treated
C. Revision of Approved Jharia & Raniganj e) Installation of 80 CAAQMS system for real-time
of non-ECL families as part of the Raniganj Master mine water is then utilized partially for activities
Master Plan monitoring of ambient air quality & integration
Plan implementation. like dust suppression, firefighting, plantation,
with the CPCB & SPCB server wherever
The time frame for implementation of the Raniganj and washing. Additionally, based on the
provisioning of the same is made available.
Master Plan and Jharia Master Plan has expired on requirements of the local community, treated
13 ENVIRONMENTAL MANAGEMENT
Dt. 11.08.2019 & Dt. 11.08.2021 respectively. f) Installation of 97 nos. of PM10 analysers for mine water is distributed to nearby villages for
Statutory Reports
13.1 Management System Standards: real time monitoring of PM10 concentration drinking and irrigation purposes. To evaluate
Jharia Master Plan the impact of mining activities on groundwater,
CIL HQ obtained re-certification of ISO 9001:2015, in ambient air.
MoC, vide its letter dated 18.08.2021, conveyed ISO 14001:2015 and ISO 50001:2018 for Quality continuous monitoring of groundwater levels
that CIL can spend from the balance money on Management, Environment Management and Energy g) 910 nos. of mobile water sprinkler tankers and in dug wells and piezometers is conducted
their committed/ ongoing works towards Jharia Management System respectively from Bureau of Indian 49 nos. of road sweeping machines have been within and around the mine leasehold area.
Master Plan till the approval of Way ahead of Standards (BIS) in 2022 with validity upto Oct,2025. As deployed across all the subsidiaries for air Various initiatives such as rainwater harvesting,
Jharia Master Plan. on 31st March 2023, ECL, NCL, MCL, CCL (27 units) and pollution control. pond excavation, and desilting are undertaken
WCL (90 units) are certified for Integrated Management to facilitate groundwater recharge both
Principal Secretary to Hon’ble PM reviewed the h) Development of wind breaker system, vertical
System (ISO 9001:2015, ISO 14001:2015 and ISO within the mine premises and nearby villages.
greenery system and green belt plantation.
progress of JMP on 09.08.2021 and a committee 45001:2018). CMPDI HQ and its seven RIs are certified Currently, 526 rainwater harvesting structures
was constituted to decide the “Way ahead of Jharia for ISO 9001:2015. Moreover, CMPDIL HQ, Ranchi have been constructed for this purpose.
i) Deployment of additional Surface Miners and
Master Plan”, under the chairmanship of Secretary, has been certified with ISO 37001:2016 (Anti-Bribery Routine monitoring of mine, workshop, and
Continuous Miners in opencast & U/G mine
Coal on dt. 25.08.21, with the approval of Cabinet Management System). domestic effluents is performed in compliance
respectively for blasting free coal extraction.
Secretary. The Committee has submitted its report. with regulations, and corresponding actions
The said report was discussed in the meeting held 13.2 Pollution Control Measures and their Efficacy: B) Water Pollution Control Measures are taken as necessary. Reports of these
on 07.02.2023 chaired by the Cabinet Secretary CIL is committed to protect environment by practicing and monitoring activities are regularly submitted to
i. Wherever and to the extent possible, the mines
where it has been directed to take necessary steps following sustainable mining practices right from mine State Pollution Control Boards (SPCBs) and the
are operated on zero discharge
for approval of Final report on way forward of Jharia planning stage. Various pollution control measures and Ministry of Environment, Forest and Climate
Master Plan. Under Secretary, MoC,GoI has vide initiatives are being taken up concurrently with mining ii. Mine discharge water is stored in huge sump Change (MoEF&CC). In the fiscal year 2023-24,
letter dt: 31-03-2023 conveyed that the Committee operations, for maintaining acceptable / permissible which acts a water harvesting structure. 90.03% of discharged mine water was utilized
of Secreteries have approved and Hon’ble Minister limits of major physical and chemical attributes of for internal and community purposes, while
of Coal & Mines has accepted the “Report of the iii. For mine discharge, pumped out mine the remaining 9.97% was retained for future
environment namely air, water, hydrogeology, ground
Committee on the Way Ahead for Jharia Master Plan”. water is treated through sedimentation prior use and groundwater recharging. Additionally,
vibrations, noise, land, etc.
to its discharge. 54.57 LKL of mine water was supplied to
A meeting of the EFC was held on 4th October, 2023 A) Air Pollution and its Control Measures: nearby communities from coal mine voids of
at 3.00 PM under the Chairmanship of Finance iv. 153 Effluent Treatment Plants (ETP) are set
To manage and decrease dust production during CCL, with an offer of 1081 LKL of mine water
Secretary and Secretary (Expenditure), Ministry of up in workshops.
drilling, blasting, loading, and coal transportation, made to the Government of Jharkhand for
Finance to appraise the proposal of Ministry of Coal
CIL has implemented several initiatives outlined v. Effluent from residential colonies is also community supply. CIL has installed 396 water
“Revised Jharia Master Plan to deal with fire and
in the Environmental Management Plan (EMP) treated through conventional means as well as meters across its subsidiaries to accurately
rehabilitation on affected people under Phase-1”.
approved by the Ministry of Environment, Forest and designated 61 Sewage Treatment Plants (STPs) quantify mine water handling.
Expenditure Finance Committee recommended the
Climate Change (MoEF&CC). The EMP is formulated in townships.
implementation of the Phase-1 of the revised Jharia C) Noise Pollution Control Measure:
Master Plan with an outlay of H 6691.20 crore with after assessing the environmental impact of coal
vi. Effluent water quality monitoring as per set To mitigate noise pollution, several measures
annual contribution of CIL for Jharia Master Plan is mining through an Environment Impact Assessment
standards is undertaken and results submitted are implemented, including regular equipment
to increase from 350 Crore/year to 500 crore/year. (EIA) study for each project, considering its effect on
to statutory authorities. maintenance, the establishment of green belts
the existing environment and forests. Measures such
Raniganj Master Plan: as mist spraying systems, mobile water sprinklers, around mine and residential areas, conducting
vii. 15 nos. of Continuous Water Quality
and automatic sprinklers have been deployed to blasting operations during daytime, and providing
In accordance with the directive from the 19th HPCC Monitoring stations for real time monitoring of
mitigate air pollution and control its effects. ear muff/ear plugs in noisy areas.
meeting dated May 19, 2019, ECL, in collaboration effluent water quality.
with CMPDI, RI-1, and ADDA, has drafted a D) Land Reclamation:
Some of the important initiatives taken by CIL viii. Subsidiaries of CIL takes No Objection
comprehensive proposal that includes alternative
are as follows: Certificate (NOC) for each project from Reclamation of the mined out areas and
rehabilitation packages, as well as considerations for
Central Ground Water Authority, Ministry of external OB dumps are major environmental
time and cost overruns. Following the directive from a) Implementation of First Mile Connectivity to
Water Resources, GoI. NOC is granted based mitigatory activities taken up by CIL.
the 21st HPCC meeting, the revision of this proposal reduce transport of coal by road.
on detailed Hydrogeological Report and Reclamation of mined out areas are being
is currently being finalized at ADDA/Government
b) Transportation of coal by conveyors, covered Groundwater Modelling. done as per the Environmental Management
of West Bengal.
trucks & loading in railway rakes through Silo. Plan (EMP), approved by MoEF&CC and
ix. In FY 2023-24, 2591.42 Lakh KL water was Mine Closure Plan (MCP) prepared as per
shared with nearby community for domestic
148 149
the guideline of Ministry of Coal . Top soil is manner. During the 2023-24, Vegetation cover 14. ERP, IT INTIATIVES, ELECTRONIC AND further improving safety inspections, the following
Corporate Overview
preserved, stored and used in plantation areas mapping of seven coalfields viz Rajmahal TELECOMMUNICATION IN CIL online monitoring portals have been established
in the opencast mines. Concurrent reclamation Coalfield (ECL), Raniganj Coalfield (ECL), Ib within the CSIS-CIL Portal:
A. ERP
and rehabilitation of mined out areas are valley coalfield (MCL), Sohagpur Coalfield
taken up for gainful land use. After technical (SECL), Mand-Raigarh coalfield (SECL), Umrer The Enterprise Resource Planning (ERP) system has e-Accident Analysis portal: CIL
reclamation is completed, plantation is carried coalfield (WCL) & Pench Kanhan Tawa coalfield achieved stability across CIL, acting as the primary Portal & MoC portal
out which is termed as biological reclamation. (WCL), have been completed. repository for critical operational information, e-Inspection portal
including production data, inventory management,
e-Safety Audit portal
Additionally, under Green Credit Program Mine Closure Plan (MCP): The MCP is an equipment status, ongoing project updates, and
launched by MoEF&CC, Coal India Limited essential component of the Project Report e-Statute Compliance portal
workforce details. The ERP dashboard provides real-
and its Subsidiaries have taken initiative for crafted by CMPDIL for Coal mines under CIL. time insights to support informed decision-making e-SMP portal
taking up plantation in degraded forest land in This gradual mine closure strategy is also and has been enriched with alert functionalities
Statutory Reports
various states. included in the EIA/EMP, which is prepared The online portals facilitate the submission of relevant
across its seven modules. These alerts prompt email
and approved by MOEF&CC as part of the details and monitor compliance with observations
notifications based on key performance indicators
Eco-restoration: For effective Bio-reclamation Environmental Clearance process. In the fiscal made by executives during inspections and safety
(KPIs) for significant parameters, thereby enhancing
of disturbed land, scientific studies are carried year 2023-24, H 127.77 Crore has been refunded audits. They aim to uphold safety standards and
operational efficiency.
out to select suitable species of plants for from the Escrow fund by the respective Project cultivate a progressive safety culture across CIL
afforestation on three tier plantation concept. Proponents for mine closure activities. The entire payroll process for CIL is managed via subsidiary mines by enhancing the monitoring and
Forest Research Institute (FRI) has been ERP, with payments typically disbursed by the 2nd management of Action Taken Reports.
engaged by CIL for sharing their expertise in E) Strive for continual improvement in environmental of the following month across most subsidiaries.
the field of eco-restoration in the reclaimed performance e-MB: Coal India Limited has created an internal
Arrears for NCWA XI (23 months) were processed
areas. Many Eco- restoration sites have been e-MB and e-Billing Portal that seamlessly integrates
Third Party Audit & Index Rating of mines: The and paid through the ERP system. Notably, there
developed in subsidiary companies of CIL with with CIL's ERP system. This portal facilitates the input,
task of formulating an approach and methodology has been a significant reduction in the payroll
technical collaboration of FRI. verification, and approval of all measurement types
for indexing the environmental conditions processing cycle time, decreasing from 15 days
through a secure platform, providing enhanced
and evaluating performance according to the to just 2 days. Similar reductions in cycle times
Eco-park in Reclaimed land: Eco Parks have tracking via movement logs, precise calculations,
Environmental Clearance (EC) conditions in 35 CIL have been observed in other modules as well. The
been developed in many of the mined out areas and heightened transparency throughout the
mines (each with over 5 million cubic meters of Coal entire life cycle of ongoing projects is monitored
and command areas of CIL like Kalidaspur Bio- existing process.
+ Overburden) was finalized by ICFRE and approved through the PS Module. ERP implementation has
diversity Park ECL, Parasnath Udyaan AKWMC
by the CIL board in December 2020. ICFRE has facilitated effective asset management, improved C. ELECTRONICS & TELECOMMUNICATION
Colliery BCCL, Bishrampur Tourism Site SECL,
conducted field visits to all 35 mines and submitted visibility into spare inventory, and enabled efficient
Chander Shekhar Azad Eco Park Bina NCL, The following are the key initiatives, activities
the final audit reports for each mine by March 2024. stores management, leading to enhanced utilization
Neem Vatika Raiyatwari Chandrapur WCL, and achievements by E&T Dept. during the
of human resources through optimal manpower
Kayakalp Vatika CCL, Ananta Medicinal garden year 2023-2024.
Amrit Sarovar: Amrit Sarovars are being developed deployment. The adoption of SAP ERP has
MCL, etc. CIL has established 32 Eco-parks &
in the mine voids and other water bodies available in streamlined various business processes, and CIL is
Mine Tourism & eco-restoration sites on date. I. Implementation of Integrated Command
command area of CIL. This will fulfill the requirement striving to embrace the best industry practices. Control Centre (ICCC): To augment overall
Monitoring of Reclamation: The land of water for local population and also act as water
e-security and surveillance using Artificial
harvesting structure & ground water recharge. The Hospital Management System (HMS) has been
reclamation and restoration operations in Intelligence (AI) and Video Analytics across
implemented across 21 hospitals within CIL and
opencast mines of CIL are being monitored the different coalfield areas, the Integrated
Activities to promote Mission Life-style: Mission its subsidiaries. This system seamlessly integrates
using high resolution Satellite Data. Land Command and Control Centre (ICCC) is
LiFE represents a significant step towards a more with the ERP system to record personnel details,
Reclamation Monitoring of total 121 projects being implemented in all other subsidiaries
sustainable future, emphasizing the importance of including those of family members. It serves as
under different subsidiaries of CIL has been as it has been implemented in WCL, broadly
collective action and conscious consumption for the a comprehensive patient management solution,
completed in 2022-23. 76 major Opencast for monitoring crowd detection, camera
well-being of our planet. CIL is undertaking various catering to the entire process from registration to
Projects (OCPs) producing more than 5 MCM tampering, intrusion detection, vehicle count,
activities under 75 mission life actions. Action have discharge for employees, their dependents, as well
(Coal + OB) per annum along with 45 OCPs/ automatic number plate recognition of vehicles
been taken under use of LED lignting system, as CSR initiatives and external visitors.
Clusters producing less than 5 MCM (Coal + etc. Mandate has been issued to adopt similar
procurement/ hiring of EV vehicles, Installation
OB) per annum were monitored in 2023-24. Connections have been set up with external entities ICCC at other subsidiaries during 2023-24.
of Solar energy, creation of Rainwater harvesting
The study during 2023-24 shows that 76 major like the GeM portal, FOIS, banks, and the National
system , Amrit sarovar, Biodiversity conservation &
OCPs have reclaimed area of 208.76 Km2 II. Information Security Audit Service for
plantation etc. Coal Portal to facilitate seamless data transfer. Data
(62.91%) and active mining area is 123.07 Km2 Coal India Ltd, Kolkata: In compliance
from both road and MGR weighbridges is integrated
(37.09%) of the total excavated area. Whereas, Alternative use of OB: In Opencast mining, the to the directives received from Ministry of
effortlessly into the ERP system without manual
for projects under less than 5 mcm category, soil and rocks above the coal seam are excavated Home Affairs (MHA), the work of Vulnerability
intervention, while rail rake data is automatically
reclaimed area is 27.30 Km2 (46.77%) and and discarded as waste, while the fragmented rock, assessment and Penetration Testing (VAPT) for
fetched from FOIS.
active mining area is 31.07 Km2 (53.23%) of known as Overburden (OB), is piled into dumps. Information and Communication Technology
the total excavated area. To address this challenge, CIL has initiated the B. IT INITIATIVES (ICT) Infrastructure of Coal India Limited,
processing of overburden rocks to produce sand. Kolkata was awarded to M/s STQC (Ministry of
As of now, CIL and its subsidiaries have implemented
In addition, CIL is also conducting Vegetation Electronics & Information Technology, Govt. of
Four plants for converting OB to sand have been put the following significant IT initiatives:
Cover Mapping of 19 major coalfields using India), subsequently vulnerability assessment
into operation. Additionally, CIL has commenced
satellite data every 3 years in phase wise Safety portal: To enhance the monitoring and and Penetration Testing of Servers/Apps &
the use of overburden as filling material.
implementation of safety measures, as well as to IT Infrastructure was successfully completed
incorporate suggestions and recommendations for during the FY 2023-24.
150 151
III. Strengthening the adoption process 15.2 : Occupational Health and Safety Policy of CIL: Continuous efforts to improve the occupational Actively participated in organizing the meeting of
Corporate Overview
towards implementation of various health standards, workplace ambience and health the Standing Committee on safety in coal mines and
Coal India Limited is dedicated to safeguarding the health
Information Technology (IT) Initiatives conditions of the employees. monitoring recommendations / suggestions made
and safety of its workforce, believing that accidents are
across Subsidiaries of CIL: Leveraging during the meeting.
preventable and industrial health risks are manageable 15.3 : Major functions of Corporate ISO
technology through various IT initiatives viz.
through foresight, training, a proactive mindset, and Liasioning with various agencies on the matter of
Global Positioning System (GPS) based Vehicle Inspection of mines to review safety status of
suitable equipment. mine safety and ISOs of various subsidiaries.
Tracking System(VTS) with geo fencing, Radio- mine & follow up action thereof to improve safety
Frequency Identification (RFID) based Boom CIL is committed to: standard of mines. Monitoring of CIL Safety Information System (CSIS)
barriers Systems, CCTV based e-monitoring
Fact finding enquiry into fatal accidents and database and ensuring timely updating.
system at vulnerable locations viz. weighbridge, 15.2.1 Carry out all mining and associated activities in such
Central stores, Railway-Sidings, Coal-Heaps a manner as to avoid harm to employees, neighboring major incidents.
Coal India Limited provides comprehensive
etc. are in place at CIL Subsidiaries. These IT communities & environment. responses to parliamentary inquiries concerning
Statutory Reports
Maintenance of accidents / major incidents database.
Initiatives are also being monitored from apex mine safety, addressing questions from various
15.2.2 Comply all relevant statutes for occupational
level at CIL by providing Standard Operating Analysis of mine Accident Statistics in order to find standing committees such as those on Steel &
health and safety.
Procedures (SOPs) for their operation and strict an action plan. Coal and labor, as well as queries from COPU,
adherence by CIL Subsidiaries. 15.2.3 Continuously promote and improve safe practices MOC, CA&G, VIPs, and requests under the Right to
in all its operations in a planned manner along with its Monitoring Mine Safety Audit. Information (RTI) Act of 2005.
IV. Establishment of redundant 2 tier
monitoring and feedback.
Internet Leased Lines at CIL Kolkata: Two Imparting specialized training by SIMTARS 15.4 : Mine Accident Statistics
tier redundant Internet Leased Line (ILL) 15.2.4 Develop a culture of progressive improvement in accredited trainers to unit level and Area level
Analysis of Mine Accident Statistics in CIL - Accident
Connectivity of 500 Mbps bandwidth, each practices and systems related to Occupational Health and executives, mine officials and members of
statistics is the relative indicator for safety status in
from primary and secondary service providers Safety Committee.
Safety (OHS) at work places. mines. Over the years, the safety performance of
have been established at CIL Kolkata to
Framing of internal Technical Circulars / CIL has improved significantly. Significant reducing
meet the enhanced requirement of high CIL will achieve these objectives by:
Management Guidelines / Advisory related to safety trend in mine accidents can be attributed to the
speed internet access for the Local Area
Planning and designing of mine with adequate issues and monitoring implementation thereof. following contributing factors:
Network(LAN) users, Video Conferencing (VC)
provision for Occupational Health and Safety.
and other internet services. Monitoring safety related R&D activities in CIL. Commitment and synergetic cooperation amongst
Hazard Identification and Risk Assessment based all stakeholders.
Organizing a meeting of the CIL Safety Board and
15. MINES SAFETY Safety Management System in mines.
monitoring recommendations / suggestions made Use of state-of-the-art technology in the field of
Ensuring safety is always paramount for CIL, deeply Adoption of suitable technology for improvement during the meeting. Mining Methods and Safety Monitoring.
ingrained in its mission statement and pivotal to its in Occupational Health and Safety (OHS) system
overarching business strategy. To maintain occupational Monitoring mine rescue preparedness at different Continuous improvement in knowledge, skill and
in work places.
health and safety standards across its mines and facilities, mine rescue establishments. responsiveness of workforce.
CIL has devised a thorough "Occupational Health and Provision of adequate resources for effective
Publication of Safety Bulletin for disseminating and Constant vigil, round-the-clock supervision and
Safety Policy." Additionally, CIL has established a multi- execution of Occupational Health and Safety (OHS)
sharing of knowledge in order to promote safety supports from various agencies.
disciplinary Internal Safety Organization (ISO) within each system in work places.
subsidiary to efficiently execute this policy. awareness and inculcate better safety culture.
Engage the safety personnel exclusively
15.1: Statutory Frame-work for safety in coal mines: for improving safety standards and safety
CIL is making all out efforts and corrective measures to prevent mine accidents.
cultures of mines.
Coal mining, world over, is highly regulated industry due
to presence of inherent, operational and occupational The notable aspects of the continuous and sustained enhancement in CIL's safety performance are depicted in the following
Organize appropriate forums with employees’
hazards and associated risks. Coal Mine Safety Legislation graphs and detailed in Annexure 14.
representatives for joint consultations on
in India is one of the most comprehensive and pervasive occupational health and safety matters to promote Graph -1 – Trend of 5 Yearly Average Fatalities in CIL since 1975
statutory framework for ensuring occupational health motivation and commitment of employees in
and safety (OHS). In India, the operations in coal mines occupational health and safety system;
are regulated by the Mines Act- 1952, Mines Rules -
1955, Coal Mines Regulations-2017 and several other Multi-level monitoring of the implementation of 196
statutes framed there under. Directorate- General of the Occupational Health and Safety (OHS) system
Mines Safety (DGMS) under the Union Ministry of Labor & in mines through Internal Safety Organization (ISO)
150
Employment (MOL&E) administers compliance of these at the company headquarters and Area Safety 143 145
statutes. Other major Acts/Rules are applicable in coal Officers at area level; 124
mines are the Electricity Act- 2003, Central Electricity
Authority (measures related to Safety & Electric supply) Periodically auditing of the procedures and 82 80
Regulations - 2023, Indian Explosive Act-1884 & Explosive practices related to Occupational Health and 62
Rules-2008, Indian Boiler Act-1923, the Employee's Safety (OHS) System; 43
Compensation Act- 1932 (Principal Act) and the Factories 27
Institute continuous education, training and
Act - 1948 Chapter -III & IV and several other statutes
retraining all employees with the accent placed on
framed there under.
development of safety oriented skills;
75-79 80-84 85-89 90-94 95-99 00-04 05-09 10-14 15-19 2020-23
152 153
Graph: 2 – Trend of 5 Yearly Average of Serious Injuries since 1975 12. Implementation of recommendations of high- e. Mechanization of UG drilling operation
Corporate Overview
power committee: A high power committee was for roof bolting.
constituted to enhance safety standards in HoE
operation. A Model Standard Operating Procedures f. Man riding system for easing UG travel.
1,278
(SOPs) for operators of HoE patches has been
II. Adoption of the state-of-the art mechanism for Strata
1,065 formulated and circulated for compliance.
Management
13. Constitution of Competency Board at Mine: This a. Scientifically determined Rock Mass Rating (RMR)
year a competency board to assess competency of based Strata Support System.
571 558 all operators has been constituted and competency
513 526 b. Mechanized Drilling for Roof bolting purpose.
of operators are being assessed regularly and
339 compulsorily assessed for new operators and
Statutory Reports
c. Need based application of Resin Capsules in place
228 operators involved in incidences.
112
of Cement capsules.
63
14. Regular coordination with ISOs: Several meetings
d. Use of modern Strata Monitoring Instruments as
were held under the Chairmanship of the Director
75-79 80-84 85-89 90-94 95-99 00-04 05-09 10-14 15-19 2020-23
per requirement.
(Technical), CIL for assessing the safety status of
mines and other establishments for enhancing safety. e. Strata Control Cell for monitoring efficacy of strata
15.5: Measures for improvement of Mine Safety in 6. Development of e-inspection portal: CIL has support system. An in-house Rock Testing Laboratory
2023 developed an e-inspection portal for uploading 15. Monsoon Preparation Plan: Micro and macro level
established in Nagpur, WCL for determination of
details of mine inspections so that safety status of plan has been prepared for monsoon preparation
CIL has vigorously pursued several measures in the year Rock Mass Rating (RMR) of strata was accredited
mine can be effectively monitored. and these are implemented and monitored
2023, along with the on-going safety related initiatives, with NABL certificate. Imparting quality training to
regularly. The Monsoon period has passed without
apart from compliance of statutory requirements support crews & frontline mine officials, supervisors
7. Imparting specialized Training on mine safety: any major safety issues.
for enhancing safety standard in mines, which & grass root level workmen.
40 nos of executives of different subsidiaries of CIL
are given below: were imparted training on “Establish and Maintain 16. Stress on Simulation based training: Total 8 nos
III. Mechanism for monitoring of mine environment:
the Risk Management System" and "Lead the initial of Training SIMULATOR have been commissioned in
1. Safety Management Plans (SMPs) – Site-specific a. Detection of mine gasses by Multi-gas detector,
response to work health and safety (WHS) incidents" NCL, MCL, SECL, CCL and WCL so far.
risk assessments, facilitated by mine officials and Methanometer, CO-detector etc.
by Australian expert.
workers, have led to the preparation of Safety 17. Preparation and sharing of Video Clips or
Management Plans (SMPs) for each CIL mine, Animation films: Video clips and animation films b. Continuous monitoring of the mine environment by
8. Special Safety Drives on different Safety
regularly reviewed and monitored through the illustrating Mine Safety Procedures, operational installing Environmental Tele- Monitoring System
Issues: Special Safety drives on various safety
Internal Safety Organization (ISO) of each subsidiary, guidelines, and Accident Analysis are being (ETMS) & Local Methane Detectors (LMD) etc.
issues & Risk review workshops were organized
contributing to ongoing safety enhancements in to improve standard of mines safety and enhance developed for widespread distribution among
mining operations. c. Regular Mine Air Sampling and Analysis by using
safety awareness and sensitivities towards safety employees, extensively utilized during training
Gas Chromatograph.
amongst all employees. sessions across various VTCs and other facilities,
2. Principal Hazards Management Plans (PHMPs):
aiming to bolster safety consciousness and foster d. Personal Dust Sampler (PDS) for detecting
Principal Hazards Management Plans (PHMP) 9. Toolbox Safety Talk: In this year Tool Box Safety robust safety cultures at the grassroots level. dust concentration.
are formulated as a part of Safety Management talk has been introduced for effective assessment
Plan (SMP) to avert any mine disaster or major of safety related hazards before start of operation. 18. Adoption of Star Rating of mines: To promote e. Use of Continuous Ambient Air Quality Monitoring
mine accident. Trigger Action Response Plans Before work, supervisors or experts related to the exemplary practices in mines, including safety System (CAAQMS) in large OCPs to assess the
(TARP) are also prepared to deal with emergency jobs give safety talk and informal risk management protocols, mines undergo assessment through the ambient dust concentration.
situations effectively. is done during the process. Star Rating System according to MoC guidelines,
encompassing safety considerations. IV. Strengthening Water Danger Management:
3. Standard Operating Procedures (SOPs): Site- 10. Personal Safety Counseling & Employee Assistant
specific, Risk Assessment based Standard Operating a. Preparation and maintenance of seam-wise
Program: Every employee is being personally Apart from the above specific actions, the following are
Procedures (SOPs) for all Mining and Allied Water Danger Plan.
consulted by Safety Officer to understand the on-going measures for improving safety standards:
operations are framed and implemented. The SOPs ability of the employee in terms of safety attitude I. Emphasis on adoption of the state-of-the art technology b. Preparation and implementation of
are being updated on a regular basis to cater to the and understanding; any personal problems or in suitable geo-mining locales. Monsoon Action Plan.
changing mine conditions. habits needs immediate attention. Accordingly, the
a. Adoption of Mass Production Technology (MPT) c. Adequate Pumping Facilities with adequate
assistant program is extended through a welfare
4. Conducting Safety Audit: Safety Audit of all in more UG mines.
officer or medical officer or person of influence. capacity of Sumps.
producing mines of CIL for FY 2023-24 are going
on for assessing safety status and to identify b. Deployment of more nos. of Surface Miners to d. Liaison with the State Meteorological Dept. &
11. Suraksha Mitra Mandali / Informal Safety Circle:
deficiency, if any. eliminate blasting operation in OCPs for safe and Dam Authorities.
Concept of Suraksha Mitra Mandali / Informal Safety
eco-friendly operation.
Circle has been introduced to inculcate best-in-class
5. Development of e-safety audit portal: CIL has e. Construction of Embankments against water bodies.
safety culture amongst employees. All employees c. Deployment of relatively higher capacity
developed an e-safety audit portal for uploading
have been distributed in groups of Mitra Mandali HEMM in more OCPs. f. Inter-mine joint survey between adjoining mines to
details of mine safety audit observations and
and these Mandalis are operated in all mines. prove inter-mine barriers.
recommendations and to monitor implementation
d. Introduction of Highwall mining technology.
of recommendations of mine audit effectively.
g. Conducting Check Survey & Joint Survey to
eliminate errors in mine survey.
154 155
V. Steps for prevention accidents in OCPs: Training on Simulators to HEMM operators. in this area. The HR leadership adopts a forward-looking collaboration with ESCP Business School,
Corporate Overview
a. Formulation and Implementation of Mine- approach, aligning with the target of producing 1BT coal France and University of Maribor, Slovenia
Skill up-gradation of frontline mine officials on by 2025-26, intensifying the deployment of enabling (For international component) - For 9 General
specific Traffic Rules.
continual basis on various topics. technology, and implementing associated training Manager (Mining).
b. Code of Practice for HEMM Operators, Maintenance initiatives. Additionally, the company anticipates capability
Sensitization of all employees including Members 4. Key training programs organized for employees
staff & others. diversification in the realm of business diversification,
of Safety Committees and contractual workmen on across CIL and its subsidiaries:
actively preparing to adapt and evolve accordingly.
c. Sensitization training of Contractor’s Workmen a regular basis.
a. IPV6 Skill Training program for 30 E&T
involved in contractual jobs. Throughout 2023-24, diverse training programs were executives by E&Y in June 2023
Experienced electrical supervisors of the Area are
conducted at subsidiary headquarters, training centers,
being engaged for imparting training to electricians
d. Installed a 'Universal Equipment Simulator' vocational training centers, and CIL's Indian Institute of b. Principles of Eco-Responsive Architecture
and electrical helpers in VTCs.
to impart simulation training to Dumper, Coal Management, Ranchi. These programs were tailored towards Energy Efficient Buildings for 15
Statutory Reports
Dragline, Shovel and Dozer Operators to hone Domain knowledge of experienced Agent, Mine to address the specific training requirements of various General Manager (Civil) of CIL/ Subsidiaries at
operational skills. Managers, E&M & Excavation Engineers and other employee categories, focusing on skill development, HIAL, Ladakh in June 2023.
senior level executives are being used in imparting knowledge acquisition, technological advancements,
e. Adequate Lighting arrangements are provided c. Training program on "E-vigilance, Cyber
training to enhance the quality of training. and safety protocols. Employees also underwent
for enhancement of standard of illumination. Eco- Awareness and tools for Leveraging Technology
training at renowned institutes like IIM Lucknow and ISM
friendly Surface Miners for blast free extraction of for Preventive Vigilance” for 25 executives
Dhanbad to enhance their expertise in their respective
coal and vertical ripper for extraction of OB and 16. MINE EMERGENCY RESPONSE SYSTEM from 25th to 27th May, 2023 at International
operational domains.
avoidance of associated risks. Management Institute (IMI), Kolkata campus.
16.1: Mine Emergency Response and Evacuation Plan
(EREP) 17.1 Training and Development of Human Resource:
f. Dumpers fitted with Proximity Warning Devices, d. Training Program on "Investigation into
In the fiscal year 2023-24, a comprehensive training
Rear view mirrors and 3600 view cameras, Audio- Procedures for immediate notification to all persons Accidents/ Incidents in Mines based on
Visual Alarm (AVA), Automatic Fire Detection & affected by the emergency. effort reached a total of 103,820 employees, with 98,380
Root Cause Analysis Techniques" at IIT (ISM),
Suppression System (AFDSS), Anti-Collision Device receiving internal training at various CIL and subsidiary
Dhanbad. (2 Batches with 44 Participants)
etc. Ergonomically designed seats & AC Cabins for Procedures for the safe, orderly and immediate institutes, and 5,440 trained externally through partners.
operators’ comfort. withdrawal of persons from danger. Additionally, 86 executives participated in international e. Training Program on "Implementation of
workshops, conferences, and visits during this period. Solar Project" at National Power Training
g. Total Station, 3D laser Scanner, Time Deflection Procedures for rescue of persons incapacitated or
Furthermore, a total of 6,47,533 training man-days were Institute (NPTI), Badarpur in November 2023
Reflectometry & Slope Stability Radar for monitoring trapped due to accident.
logged for CIL employees, including both executives (20 participants)
OB bench and OB Dump stability. Separate road and non-executives across subsidiaries. Moreover,
Procedures for providing first aid, transportation,
for light motor vehicle (LMV), Safety flags for LMV, recognizing the importance of skilling among outsourced f. Management Development Program on
medical treatment to injured.
Cautions/ Danger Board, road dividers etc. job roles, 39,374 contractor workers received training in "Analysis of Financial Management at AJNIFM
Special training to respond to critical operations and the same fiscal year. Faridabad, Haryana;
h. GPS based Operator Independent Truck Dispatch
mine emergencies.
System (OITDS) in large OCPs for tracking movement 17.2 Engagement of Apprentices: g. Training on "Hospital Management &
of HEMMs inside OC mine. An E-surveillance unit has Mock Rehearsals for examining the efficacy of Plan. Administration" from 04th to 30th December,
In the fiscal year 2023-24, CIL and its subsidiaries
been installed in mines for monitoring operations 2023 at Indian Institute of Public Health
employed a total of 7,623 apprentices through the NATS
24X7 in real time by using GPS/GPRS- based vehicle Demarcating Emergency Escape Routes in Gandhinagar (IIPHG) for 30 medical executives.
and NAPS portals.
tracking, and geo-fencing system. belowground and training on evacuation.
h. Safety Training and Certification Program/
17.3 Special Initiatives:
i. Integrated command & control centre (ICCC) Flow Chart prepared for transmission of information courses for Executives of CIL through Talisman
e-surveillance system has introduced in WCL for regarding crisis / disaster. 1. Policy reforms: Technical Pty. Ltd (40 participants)
efficient monitoring mining activities including safety. a. Review of existing Talent Management Policy
16.2 : Mine Rescue Services in CIL: 5. Focused Training Programs organised at CIL (HQ),
with consultancy support from M/s Deloitte
j. Artificial Intelligent (AI) enabled Boom Barrier & Subsidiaries of CIL maintain 6 Mine Rescue Stations Kolkata:
Touche Tohmatsu India LLP. Recommendations
Traffic Control System in OC mines. (MRS), 13 Rescue Rooms-with- Refresher Training a. Financial Modeling Training Program for
for changes in Talent Management Policy are
facilities (RRRT) and 17 Rescue Rooms (RR) at strategic being reviewed. Executives of CIL HQ
VI. Electrical Safety: For enhancing safety during use,
locations to cater to the emergencies on 24X7 basis.
repairing and maintenance: b. Training Program on "Stress Management &
2. Signing up of MoU:
a. LOTO based shut-down procedures. All Rescue Stations / Rescue Rooms are fully equipped Work Life Balance; at CIL HQ
a. One-year PGPEx on Logistics & Operations
with adequate numbers of rescue apparatus and
b. Hydraulic ladders are being used Excellence through Digitalization jointly c. Workshop on Emerging Trends & Best
staffed by adequate numbers of Rescue Trained
organised by IIM Mumbai & IIM Sambalpur Practices in HR
Personnel (RTP) as per the MRR-1985.
c. Non-contact type live conductor device
b. 2 weeks’ “General Management Program” at d. Workshop on Gender Sensitization and
d. Engaged skilled and trained electricians 17. HUMAN RESOURCE DEVELOPMENT IIM Lucknow for Middle level executives across POSH Act.
and supervisors. all disciplines.
Coal India Limited is committed to maintaining an
6. Flagships Programs Organized for Senior Level
15.6 : Training on Mine Safety: uninterrupted coal supply chain to ensure national 3. Training outside country: Executives of CIL by IICM:
energy security. Recognizing the pivotal role of Human
Initial and Refresher training & On-the-Job Training a. Advanced Global Techno-Management a. MANTHAN 2.0: A journey of building a
Resources in achieving this objective, the organization
as per statute. Programme 2023 at ASCI Hyderabad in sustainable competitive edge for Coal India
prioritizes workforce development, consistently investing
156 157
- Designed for the new directors of CIL, the of 560 vacancies notified in Open Recruitment Advt. Career progression of Departmental candidates : on CIL website on 01.08.2023 against which, online
Corporate Overview
workshops focused on building a sustainable No. 03/2023 by CIL. The list of selected candidates application forms have already been collected from
7. Internal Notification for Departmental Promotion
and competitive edge for the company. was published on CIL website on 20.02.2024. the prospective Departmental candidates of CIL &
/ Selection from Non-Executive to Executive
Conducted a two-day workshop, “MANTHAN Currently, Documents Verification and Initial Medical its Subsidiaries through online login portal and CBT
cadre to the post of Sr. Officer (Mining) dated
2.0", in collaboration with MCL at Bhubaneswar Examination for these candidates are underway is to be conducted shortly in this regard.
30.09.2022 initiated in the year 2022-23: 504
on August 07-08, 2023. 23 Directors in Manthan across allocated Subsidiaries since 29.02.2024.
Departmental candidates were promoted / selected
2.0 participated in this workshop, equipping 19. MANPOWER
2. Open Recruitment of Management Trainees on from Non-Executive cadre to Executive cadre to
them to excel in their roles and contribute
the basis of GATE-2022 Score in 04 different the post of Sr. Officer (Mining) – E2 grade wherein 19.1 As of April 1, 2023, the combined workforce of the
effectively to the organization's success.
disciplines - Advt. No. 02/2022 of CIL: 958 503 have joined across Subsidiaries in 02 selection Company and its subsidiaries was 239,210, compared
b. DISHA: Tailored for newly promoted General Management Trainees were selected in 04 Phases from June, 2023 to till date. to 228,861 as of April 1, 2024. Annexure 15 provides
Managers, this leadership program aims to disciplines on the basis of GATE-2022 Score against 8. Departmental Promotion / Selection from a comprehensive breakdown of the subsidiary-wise
Statutory Reports
mentor and prepare them for their upcoming 1026 vacancies notified in the Open Recruitment Non-Executive to Executive cadre through manpower distribution.
roles & responsibilities. Disha 1, Disha 2 and Advt. No. 02/2022 of CIL. From the 07 Selection Computer Based Test (CBT) initiated in year
19.2 Representation of SC, ST and OBC
Disha 3 were organized from September 18- Phases issued, 823 Management Trainees have 2023-24: Internal Notification No. 01/2023
20, 2023 and September 25-27, 2023 and joined across Subsidiaries till date. Notably, 30 of for promotion/selection of Departmental Non- The Presidential directives with respect to manpower
Feb. 09-11, 2024 respectively. Total 88 General these MTs joined the service during the F.Y. 2023-24. Executive employees to Executive Cadre in the for Scheduled Caste/Scheduled Tribes/OBC have
Managers were trained during two programs. 16(Sixteen) disciplines through CBT was published been implemented in all the subsidiaries/units of
3. Open Recruitment of Management Trainees Coal India Limited.
c. LAKSHYA: A personal Journey for Leadership through Computer Based Test in 08 different
& Transformation: This initiative is geared disciplines - Advt. No. 03/2022 of CIL (CBT-2022):
The representation of SC/ST employees in total manpower of CIL and its Subsidiary Companies as on 01.01.2022, 01.01.2023
towards preparing potential candidates for 366 Management Trainees were selected through
and 01.01.2024 is given below:
interviews for board-level positions within CIL. Computer Based Test (CBT) Score in 08 different
LAKSHYA 2.0 was organised from Nov 16-18, disciplines against 398 vacancies notified in the Open
Total Manpower Scheduled Caste Scheduled Tribe
2022 (nos. of Participants -24) Recruitment Advt. No. 03/2022 of CIL. From the 02 As on
Selection Phases issued, 343 Management Trainees Nos. Nos. Percentage Nos. Percentage
d. JIGYASA: An Online session of 90 minutes’ have joined across Subsidiaries till date. Notably, 37 of 01.01.2022 2,51,320 48,493 19.29 36,398 14.48
duration for all the Directors of CIL & Subsidiaries these MTs joined the service during the F.Y. 2023-24. 01.01.2023 2,41,563 46145 19.10 35,053 14.51
of CIL to sensitize and share upcoming trends 01.01.2024 2,31,058 44,601 19.30 33,143 14.34
and development globally in emerging topics 4. Decentralized Recruitment of Medical
aligned with strategic priorities. Executives through Subsidiaries/CIL – (2022-
23): 255 Medical Executives, including Medical 19.3 Details of Persons with Disabilities (Divyangjan) regulations, ensuring decent housing for staff. Routine
e. Outbound trainings: 125 employees Specialists, Sr. Medical Officers (GDMO) and Sr. and various activities undertaken are given in maintenance and extensive repairs are conducted to
participated in outbound training program Medical Officers (Dental), were selected against 472 Annexure 15 uphold the quality of these accommodations, with a
organised in collaboration with TSAF at places vacancies notified under Decentralized Recruitment current total of 316,225 standard housing units available
like Manali, Ladakh, Mussorie, Jim Corbett. across CIL and its subsidiaries.
of Medical Executives for 2022-23. Of the total 20. INDUSTRIAL RELATIONS AND EMPLOYEES’
vacancies, 233 Medical Executives (comprising 194 PARTICIPATION IN MANAGEMENT 21.2 WATER SUPPLY:
18. RECRUITMENT GDMOs and 39 Specialists) finally joined across
Throughout the financial year, the Industrial Relations
Subsidiaries through the 02 Selection Phases issued. Facilities for water supply have been established to ensure
In the fiscal year 2023-24, Coal India Limited strategically landscape within CIL and its subsidiaries remained access to clean drinking water for employees and their
Notably, 87 of these Medical Executives joined
bolstered its workforce by conducting a focused amicable. Joint Consultative Committees and other families. Water undergoes thorough treatment before
during the F.Y. 2023-24.
recruitment campaign to hire Management Trainees and Bipartite Committees operated smoothly at both distribution, and numerous RO plants and pressure filter
Medical Executives via direct recruitment. This initiative 5. Decentralized Recruitment of Medical Executives the Unit/Area and Subsidiary (HQ) levels, fostering plants within coalfields serve not only our employees but
effectively addressed the organization's manpower needs through Subsidiaries/CIL – (2023-24): Fresh cooperation. Regular meetings of Bilateral Committees also the surrounding communities.
due to retirements, resignations, and attrition, ensuring recruitment process has started for the hiring of were convened at CIL to discuss matters concerning
operational continuity. Additionally, CIL facilitated the 388 Medical Executives, comprising 233 Medical Industrial Relations, Welfare, Productivity/Production, 21.3 EDUCATION FACILITIES:
promotion of Non-Executive employees to the Executive Specialists and 155 Sr. Medical Officers/GDMO Safety, etc. Apart from minor localized issues in a few
CIL's subsidiary companies extend financial aid and
cadre across various disciplines, enhancing organizational under the policy for Decentralized Recruitment subsidiaries, the company encountered no significant
infrastructure support to schools in mining areas,
manpower and facilitating smooth transitions within the of Medical Executives through Subsidiary/CIL. Industrial Relations challenges.
including institutions like DAV, Kendriya Vidyalaya, Delhi
company's hierarchy. Currently, notifications have been issued by all Public School, and state-run educational establishments,
the concerned Subsidiaries of CIL in the first 21. EMPLOYEES’ WELFARE AND SOCIAL ensuring quality education for employees' children.
The executive manpower influx in CIL for the fiscal year
week of March 2024. SECURITY SCHEMES Currently, 72 project schools receive full financing, while
2023-24 is outlined as follows:
13 other educational institutions receive occasional
6. Closure of Training Period / Regularization of Coal India Limited is committed to providing equitable
Direct Recruitment: welfare facilities to its employees and their families,
assistance, and 27 company-run schools are provided
Management Trainees posted across Subsidiaries
infrastructure support.
1. Open Recruitment of Management Trainees on as Executive in CIL: On satisfactory completion of ensuring inclusivity and non-discrimination. The details
the basis of GATE-2023 Score in 03 different one-year training period and after qualifying in the are given as under: 21.3.1 Coal India Scholarship Scheme:
disciplines - Advt. No. 03/2023 of CIL: written test conducted by IICM Ranchi, total 604 MTs
21.1 HOUSING FACILITIES: Every year, CIL and its subsidiaries offer two categories
A total of 558 Management Trainees were selected in posted across Subsidiaries were regularized and
of scholarships, namely Merit and General Scholarships,
03 disciplines on the basis of GATE-2023 score, out placed in E3 grade from the next date of completion CIL and its subsidiaries allocate company quarters to
to employees' children, adhering to specified terms
of training period during the F.Y. 2023-24. eligible employees based on availability and company
158 159
and conditions. In the fiscal year 2023-24, 1492 wards 21.6 NON-STATUTORY WELFARE MEASURES 22. RECOMMENDATIONS MADE BY THE COMMITTEE ON PAPERS LAID ON THE TABLE (RAJYA SABHA)
Corporate Overview
of employees received General Scholarships, while 63
21.6.1 CO-OPERATIVE STORES AND CREDIT SOCIETIES. IN ITS 150TH REPORT
students were awarded Merit Scholarships.
To provide essential commodities and consumer goods at (A) –Vigilance Cases during the year 2023-24
a) In Merit Scholarship, Students securing 1st to 20th affordable prices within the collieries, Coal India Limited
Particulars No. of cases
position in Madhyamik/ H.S. or any State Board or operates 50 Central Co-operatives and 111 Primary Co-
securing 95% and above marks in ICSE, CBSE / ISC operative Stores in the Coalfield regions. Furthermore, Opening balance of Cases 16
Exam (Class-X & XII) are given scholarship per month. there are 160 Co-operative Credit Societies functioning Received 619
Total 635
across the Coal Companies.
General Scholarship is provided to Students Disposed off 630
studying Class-V onwards up to Graduation / 21.6.2 BANKING FACILITIES AND POST OFFICES Closing balance of Cases 5
Post- graduation level in any discipline subject to
Coal companies facilitate the establishment of
Statutory Reports
prescribed percentage of marks.
Nationalized Banks branches and Extension Counters in B. Pending CA&AG Paras (CIL H.Q.):-
b) Cash Award and certificate of appreciation: Coalfields to benefit workers, with 320 Bank Branches,
35 Extension Counters, and 5 satellite bank branches. PART II A PART II B TOTAL
Every year Cash Award of H 5000/- and H 7000/-
Efforts are made to bring post offices closer to residential No of
respectively are provided to the Meritorious wards No of Paras No of Paras No of Paras No of No of Paras
colonies for worker convenience. Paras Remarks Remarks Remarks
of CIL employees who secure 90% or above Marks replied received replied Paras replied
received
in aggregate in 10th and 12th standard Board
21.6.3 HOLIDAY HOMES 18 18 Under scrutiny 15 15 Under scrutiny 33 33 Under scrutiny
level examination.
Coal India Ltd. provides facilities of Holiday homes at of C&AG of C&AG of C&AG
c) Coal India Limited offers financial aid to dependents places of tourist attraction, at nominal cost, for the benefit
Replies to all the CAG Paras have been given and the matter is under scrutiny of C&AG. The matter is being regularly followed
of Wage Board Employees, covering tuition fees of its employees & their families. These facilities are also
and hostel charges, to support their pursuit of up with the office of C&AG.
available for retired employees.
engineering or medical studies in prestigious
C. RTI Matters:
institutions such as IITs, NITs, Government 21.6.4 SPORTS FACILITIES
Engineering, and Medical Colleges, recognizing the Extracts of RTI Annual Return for the Financial Year 2023-24
Recreational and sports amenities are available for the
significant expenses associated with such education. welfare of workers and their families, aiming to promote
Requests Received Decisions where Decisions where requests
well-being and fitness. No. of cases
21.4 MEDICAL FACILITIES Particulars (including cases transferred requests/appeals /appeal accepted &
transferred
to other Public Authority) rejected disposed
Coal India Limited and its subsidiaries offer medical Coal India fosters sports and cultural activities through its
services to employees and their families through various approved Sports Policy managed by the Coal India Sports Nos. 2036 861 81 1094
medical facilities, ranging from dispensaries to central Promotion Association (CISPA), which offers sponsorship
and financial aid, particularly in coalfield regions.
and Apex Hospitals across coalfields. When specialized 23. TREE PLANTATION / AFFORESTATION Under the provisions of in-service Hindi training,
treatment is required beyond in-house capabilities, Hindi “Praveen” and “Parangat” classes are being
21.7 WOMEN EMPOWERMENT Every year, CIL's subsidiaries undertake extensive tree
patients are referred to empaneled hospitals. conducted for the total 25 CIL employees in
As of April 1, 2024, there are 19,421 female employees plantation programs to develop green belts. This includes
January-2024 session in collaboration with the
Presently, CIL and its subsidiaries boast 360 dispensaries, in CIL and its subsidiaries. To safeguard their well-being, avenue plantation, planting on OB dumps, and in and
Government of India's Hindi Teaching Scheme,
4318 hospital beds, 1067 doctors, 511 ambulances, and these coal companies uphold statutory regulations around mines, residential colonies, and government land.
Department of Official Language, Ministry of Home
70 hospitals, including one Ayurvedic dispensary and concerning maternity leave, childcare leave, and provide In FY 2023-24, CIL planted 44.40 lakh saplings, covering
Affairs and 09 trainees received training in Hindi the
eight mobile vans. amenities like crèche facilities. Additionally, Women approximately 2,167.61 hectares within and outside mine
July, 2023 session of 'Pragya' class.
in Public Sector (WIPS), a forum supported by SCOPE leasehold areas. Additionally, grassing was carried out
Ambulances equipped with advanced technology and over 248.65 hectares during this period. A suggestion committee has been constituted under
(Standing Conference of Public Enterprises), operates
life support systems are stationed strategically across the leadership of Official Language Department, CIL
within coal companies/CIL, aiming to empower female
the coalfields for swift patient transportation. Moreover, with the objective of removing the problems being
employees and facilitate networking opportunities. 24. PROGRESSIVE USE OF HINDI
emphasis is placed on Occupational Health and HIV/AIDS faced in the implementation of official language in
awareness programs for employees and their families, In terms of the provisions of the Sexual Harassment Your Company is committed to implement the provisions
the member offices of TOLIC (PSUs), Kolkata. The
while medical services, both outpatient and inpatient, are of women at workplace (Prevention, Prohibition and of the Official Language Act, Rules and Regulations and
said committee visited NBCC office, Kolkata and
also extended to workers employed by contractors. Redressal) Act, 2013, Coal India Limited has an internal all the mandatory activities are conducted regularly
NTPC office, Kolkata on 27.04.2023 and National
complaints committee. in every quarter. The activities undertaken throughout
Seed Corporation, Kolkata and Dedicated Freight
21.5 STATUTORY WELFARE FACILITIES the year include:
Corridor, Kolkata office were visited on 07.07.2023.
In accordance with the provision of the Mines Act, 21.8 CIL WELFARE BOARD MEETING
Review meeting of CIL Official Language Necessary suggestions were given and information
1952 and Rules and Regulations framed there-under, The Welfare Board, consisting of representatives from about the available technology was also shared.
Implementation Committee was organized every
subsidiaries of Coal India Limited are maintaining various both trade unions and management, convenes regular
quarter.
statutory welfare facilities for the coal mines such as 379 meetings at unit/subsidiary and headquarters levels. On the auspicious occasion of the birth anniversary of
nos. Canteen, 547 nos. Rest Shelters and 24 nos. Pit Head It plays a pivotal role in making significant decisions To promote the use of Hindi in office work, a total Gurudev Shri Rabindranath Tagore on 09/05/2023,
Baths & 18 nos. of creches etc. pertaining to employee welfare, including improvements of 4 workshops were organized in each quarter. a one-day national seminar on the topic "Hindi and
in housing and drinking water facilities. Additionally, the Training and practice programs related to Hindi Indian Literature" was organized at the University
Welfare Board oversees the quality of these facilities. e-tools, Hindi noting, drafting and regular official of Calcutta, Kolkata under the joint collaboration of
works were organized and information about Coal India Ltd. and Calcutta University.
constitutional provisions was given.
160 161
On the occasion of birth anniversary of Premchand language, a five-day short translation training Hindi Award - b. Review of Sub-contracting Clauses in NIT/
Corporate Overview
on 31.07.2023, a one-day seminar was organized program was organized at Coal India Limited (HQ),
On March 8, 2024, at the Joint Official Language LOA:
on the topic "Premchand's contribution to the Kolkata campus from 18.12.2023 to 22.12.2023
Conference and Award Distribution Ceremony During Investigation in one of the subsidiaries
development of Hindi" at Coal India (HQs.) campus. under the joint aegis of Coal India Limited (HQs),
of East and Northeast Region organized by the regarding allegations of violation of sub-letting
Kolkata and Central Translation Bureau, Kolkata
The 14th issue of Coal India's In-house Hindi Department of Official Language, Ministry of clause of a service contract, it was found that sub-
Center, Department of Official Language, Ministry
magazine 'Koyla Darpan ' was released on the Home Affairs, Government of India, in Siliguri, West contracting is not allowed in part or whole in any
of Home Affairs. In which a total of 28 trainees
occasion of Independence Day, 2023 and the 15th Bengal, Hon'ble Minister of State for Home Affairs, circumstances as per terms & conditions of NIT and
received training.
issue was released on the auspicious occasion of Shri Nishith Pramanik awarded the second prize subsequent LoA issued. During the execution of
Republic Day, 2024. Translation competition on 11.05.2023, Group (shield) in "C region" to the TOLIC (PSUs), Kolkata for the work, some peripheral works, other than core
Discussion Competition on 21.07.2023, Picture the best performance in official language in the year activity, were found to be sub-contracted. Therefore,
A half yearly review meeting was organized at Hotel Expression Competition on 19.12.2023, Essay 2022-23. It is noteworthy that TOLIC (PSUs), Kolkata it is essential that based on the requirement of
Statutory Reports
Taj, City Center, Kolkata on 25.08.2023 under the Competition on 20.12.2023, Travelogue Writing is being chaired and led by Shri Vinay Ranjan, the job, special care is to be taken while drafting
chairmanship of CIL and under the aegis of TOLIC Competition on 24.01.2024, Poetry Recitation Director (P&IR), CIL. Member Secretary of TOLIC terms & conditions of NITs. After examination of the
(PSUs), Kolkata. In which, member offices which Competition on 13.02.2024, Hindi Letter/Note/ (PSUs), Kolkata and Head of Department (Official Vigilance Investigation Report, on advice of CVC,
performed excellent in the field of official language Format Writing Competition on 15.03.2024 and Language), CIL, Shri Rajesh V. Nair was honoured Systemic improvement suggestions were issued to
implementation and Hindi magazine publication Hindi Seminar on 22.03.2024 were organized with a certificate for his special contribution. redefine the clauses in similar tenders so as to align
during the year 2022-23 were awarded. for the participants of member offices under with practicality of contracts.
This year Hindi fortnight was organized from 14-29

the chairmanship of CIL and aegis of TOLIC 25. VIGILANCE DIVISION c. Modification in Standard NIT Documents.
(PSUs), Kolkata.
September 2023 at Coal India Ltd. (HQs), Kolkata. Coal India Ltd. operates a meticulously organized A case where the Standard Bidding Document
Various types of competitions like, travelogue On 12.01.2024, a kavi sammelan was organized in Vigilance Division located at its Corporate HQ in Kolkata, which was approved by CIL Board and modified at
writing competition, translation competition, letter the premises of Coal India Ltd. (HQs). In which the led by a Chief Vigilance Officer and supported by a subsidiary level has been examined at CIL vigilance.
and note writing competition, quiz competition, poets entertained the members of the coal family diverse team of vigilance officers. Similarly, its eight The Model Bid document for setting up of washeries
group discussion competition and essay writing with their poetry recitation. subsidiaries have their independent Vigilance Units, on Built Own Operate (BOO) basis was approved by
competition in two categories, i.e. junior and senior each headed by a Full time CVO. At the level of holding CIL Board, which also authorized Subsidiary Board
for the students of Kendriya Vidyalaya, No. 2, Salt Half Yearly review meeting of TOLIC (PSUs), Kolkata company, CVO, CIL acts as a coordinating authority to approve minor modifications.
Lake, Kolkata were organized. In the fortnight, a total was held on 31.01.2024 under the Chairmanship of between subsidiary Vigilance, CBI, Ministry of Coal and
of 243 participants took part. Director (P&IR), CIL. the Central Vigilance Commission. CVO, CIL at corporate Systemic Improvement measures were suggested
level deals with complaints, investigations and systemic that any changes in the Model Bid Document, made
On 29.09.2023, a meeting of the Official Language A technical seminar was organized for TOLIC (PSUs), improvements on issues having multi-subsidiary and by subsidiaries as per requirement of subsidiary
Implementation Committee and prize distribution Kolkata on 31st January , 2024. In which the Official company-vide ramifications. companies should be communicated to CIL for
program was organized under the Official Language Language Nodal Officers of CIL and Hindi and other examining its applicability uniformly across CIL. It
Fortnight Closing Ceremony. In the said function, senior officers of other member offices participated . Complaints received within the organization are was also suggested that the guidelines issued for
the winners of the competitions held during the addressed in alignment with CIL's "Complaint Handling e-procurement of works & services by CIL should
fortnight were encouraged by giving prizes and The 28th and 29th issue of Hindi magazine Policy" and the guidelines established by the CVC. clearly spell out major and minor changes, as far
three departments which did excellent official “Abhivyakti” of TOLIC (PSUs), Kolkata published by These are processed using the Online Complaint as possible. Further suggested for updation of the
work in official language Hindi were given 'CIL Department of Official Language, CIL, was released Handling Portal from the point of receipt until resolution. Model Bid Document to setup washeries on BOO
Rajbhasha Chalshield'. during the half yearly review meeting on 25.08.2023 As part of preventive vigilance efforts, CIL's vigilance basis since the last Model Bid Document for BOO
and 31.01.2024 respectively. division conducts System Studies on various business was approved by CIL Board on 2015.
On 07.11.2023, Coal India Limited and TOLIC (PSUs), processes with operational and financial implications,
Kolkata were inspected by the Sub-Committee During the year, inspection of various departments of
proposing specific system improvement suggestions d. SIMs regarding prior intimation / previous
on Documents and Evidence of the Committee of CIL (HQs) was carried out regarding implementation
for management. Below are some of the System sanction for acquiring immovable property:
Parliamentary on Official Language. of Official Language. Along with this, a technical
Improvement Measures (SIMs) implemented during the
workshop was also organized for the departments. The process for executives for prior intimations /
fiscal year 2023-24 :
On 13.12.2023, a meeting of the Hindi Advisory In which the ease of working in Hindi was previous sanctions for acquiring properties was
Committee, Ministry of Coal was held under demonstrated through practical technical exercises. a. Medical Bill reimbursement: manual and paper-based. This method lacked
the chairmanship of Honourable Coal Minister efficiency and transparency. The Annual Property
CIL Annual Reports and Accounts 2022-23 The scrutiny and approval of medical bills for Coal Return (APR) portal of CIL didn't include a feature
Shri Prahlad Joshi.
translated in Hindi . India Limited's employees occur at the Finance to record these intimations or sanctions. The manual
The functioning of TOLIC (PSUs), Kolkata is being Department of CIL-HQ, bypassing examination submission process makes it cumbersome and
managed under the chairmanship of Coal India In order to promote the use of Hindi in official work, by medical professionals, contrary to established time-consuming, making it challenging to scrutinize
Ltd. (HQs), Kolkata. TOLIC (PSUs), Kolkata has taken the following schemes have been implemented: procedures. Additionally, the absence of Standard the information properly. To address these issues,
a new initiative and has created a web page for (i) "CIL Hindi Book Writing Incentive Scheme" Operating Procedures (SOPs) for bill approval further there was a need to enhance the APR portal by
reviewing the quarterly reports of its member offices. complicates the process. To address these issues, incorporating a module for online submission of
(ii) "Incentive Scheme for Correspondence /
On 15.12.2023, a one-day workshop was organized the Vigilance Division recommended integrating all applications related to prior intimations or seeking
Drafting and doing other official work in Hindi"
on the subject of usage of TOLIC webpage. bills into the ERP portal for real-time tracking and previous sanctions for immovable properties, in
(iii) CIL Hindi book writing scheme establishing SOPs for bill approval, measures that compliance with CDA rules. This modification aims to
In view of the importance of translation in office have been successfully implemented.
(iv) CIL Rajbhasha Chal Shield Yojna streamline the process, reduce human intervention,
work and to facilitate the implementation of official
and ensure transparency by seamlessly integrating
162 163
each entry in the Annual returns with the respective spouses and wards of employees of Coal India 4. CA Kamesh Kant Acharya -– [DIN-09386642] 1 Functional Director and thereafter it was reconstituted
Corporate Overview
intimation or sanction obtained. Suggestions were conducting sensitization program, walkathon for 5. Shri Makwana P Kalabhai – [DIN-09385881] on 25th Sept’2023 with 3 Independent Directors, 1 Govt.
made to the management which is now under vigilance awareness etc. were organized by CIL HQ. Nominee Director and 1 Functional Director. Details were
6. Dr. Arun Kumar Oraon -– [DIN-09388744]
implementation. disclosed in Corporate Governance Report
7. Shri Ghanshyam Singh Rathore
e. Banning of Business with firms/ suppliers: 26. PARTICULARS OF EMPLOYEES AND THEIR – [DIN-09615384]
REMUNERATION 30. DECLARATION GIVEN BY INDEPENDENT
It is observed that inordinate delay was taking
As per the Notification issued by the MCA on 5 June
th d) Key Managerial Personnel: - DIRECTORS UNDER SUB-SECTION (6) OF
place at CIL in dealing the matters related to
2015, Government Companies are exempt from this 1. Shri Pramod Agrawal -Chief Executive Officer
SECTION 149.
Banning of Business with firms communicated by
subsidiaries. CIL management was suggested for requirement. None of the employees at Coal India (CEO) upto 30th June’ 2023 Independent directors have given their declaration during
taking appropriate action for System improvement Limited (CIL) and its subsidiaries earn more than H 1.02 2. Shri P. M. Prasad-Chief Executive Officer (CEO) 2023-24 that they meet the criteria of independence
in the matter. crore per annum. from 1st July’ 2023. as stipulated in sub-section (6) of Section 149 of the
Statutory Reports
Companies Act 2013.
3. Shri S.K. Mehta, ED (Finance)- Chief Financial
Subsequent to the SIMs issued, CIL management
27. BOARD OF DIRECTORS & KEY MANAGERIAL Officer (CFO) upto 12th February’ 2024. Further, as required under Section 149(7) of Companies
has amended the provisions of the Purchase
PERSONNEL 4. Shri Mukesh Agrawal- Chief Financial Officer Act’13 and Regulations 25(8) of SEBI (LODR) Regulations
Manual concerning the banning of firms. These
amendments outline specific clauses under which As on 31.03.2024, the composition of Board comprising (CFO) from 13th February’ 2024. 2015, Independent Directors had submitted declaration
banning will apply uniformly across CIL or will be of Functional Directors, Government Nominee Directors 5. Shri B. P. Dubey- Company Secretary and that they meet the Independence Criteria as provided in
limited to a particular subsidiary. Moreover, the and Independent Directors and Key Managerial Compliance Officer, CIL. Clause (b) of Regulation 16(i) of LODR 2015 and they are
revised provisions allow for the extension of bans Personnel are as under:- not aware of any circumstance or situation, which exists
to other subsidiaries following an assessment of Your Directors express their profound appreciation for the or may be reasonably anticipated that could impair or
a) Functional (Executive) Directors: - valuable guidance and services provided by the Directors impact their ability to discharge duties with an objective
conduct and performance from other subsidiaries.
An SOP has been issued, which is also a part of CIL’s 1. Shri Pramod Agrawal [DIN-00279727]- who concluded their tenure during the year. independent judgment and without any external
Purchase Manual. Chairman cum Managing Director (CMD) upto influence. Further, as required under Regulation 25(9)
In terms of Article 39(j) of the Articles of Association of of LODR 2015, the Board of Directors of the Company
30th June’ 2023.
Complaint Handling: During the year 2023-24, the Company, one third of the Directors are liable to retire at its 464th Board meeting held on 2nd May’24 ‘took on
CIL Vigilance Division received 619 complaints 2. Shri P. M. Prasad [DIN-08073913]- Chairman by rotation shall retire at the ensuing Annual General record’ the declaration and confirmation submitted by
including those forwarded by MoC, CBI and CVC, cum Managing Director (CMD) from Meeting and they are eligible for reappointment. Shri the Independent Directors under Regulations 25(8) after
out of which 614 complaints have been disposed 01st July’ 2023 Debasish Nanda, Director (Business Development), CIL undertaking due assessment of the veracity of the same.
during the year. and Mrs Nirupama Kotru, JS & FA, MoC, Govt. Nominee
3. Shri Vinay Ranjan [DIN-03636743]- Director will retire by rotation and has offered themselves
Punitive Vigilance: The Vigilance Units of CIL and Director (P & IR) for re-appointment. 31. APPOINTMENT/RE-APPOINTMENT AND
its subsidiaries undertook numerous intensive INTEGRITY, EXPERTISE & EXPERIENCE
4. Dr. B. Veera Reddy- [DIN-08679590]- The Board of Directors held 14 meetings during the (INCLUDING PROFICIENCY) OF
examinations, surprise checks and investigations
Director (Technical) year 2023-24. INDEPENDENT DIRECTORS
leading to punitive actions on 215 officials
during the year. 5. Dr. B. Veera Reddy- [DIN-08679590]- Director All 7 Independent Directors had registered themselves
(Finance), Addl. Charge till 01st May’2023 28. COMPOSITION OF AUDIT COMMITTEE with Data Bank of IICA. As stipulated by SEBI (LoDR)
Observance of Vigilance Awareness Week (VAM)– Regulations 2015, the list of core skills/expertise/
2023: In the year 2023, Vigilance Awareness Week CIL constituted an Audit Committee of its Board of
6. Shri Debasish Nanda [DIN-09015566]- Director competence as possessed by them was approved by
was observed from 30th October to 5th November, Directors w.e.f. 20th July’ 2001 and the Audit Committee
(Business Development) Board in its 465th Board meeting held on 10th May’24.
2023 on the theme “Say no to corruption; commit was re-constituted by the Board in its 433rd meeting held
This includes integrity, expertise and experience of
to the Nation”. 7. Shri Debasish Nanda[DIN-09015566]- Director on 12th Nov’2021 consisting of 4 Independent Directors,
Independent Directors.
(Finance), Addl. Charge-from 02nd May’ 2023 to One Government Nominee Director, One Whole Time
The observance of VAW was preceded by a special 7th February’ 2024. Director (Director Technical) and One permanent Invitee
campaign during the period 16th August 2023 (Director Finance). The composition, quorum, powers, 32. RECOMMENDATION OF AUDIT COMMITTEE
till 15th November, 2023 as a prelude to Vigilance 8. Shri Mukesh Choudhary [DIN-07532479]- role and scope are in accordance with Section 177 of the AND OTHER SUB-COMMITTEES OF THE
Awareness Week 2023 on Preventive Vigilance Director (Marketing) Companies Act, 2013 and the provisions of Regulation 18 BOARD.
cum Housekeeping activities as circulated by CVC of SEBI (LODR) 2015. Details were disclosed in Corporate
9. Shri Mukesh Agrawal [DIN- 10199741]-Director All the recommendations made by Audit Committee and
vide Circular No. 06/08/23, dated 02.08.2023 Governance Report
(Finance)-from 08th February’ 2024. other Sub-Committees were accepted by the Board.
with six focus areas, namely; Awareness building
about PIDPI Resolution, Capacity Building
b) Government Nominee Directors: - 29. COMPOSITION OF CSR COMMITTEE 33. COMPANY’S POLICY ON DIRECTORS
Programs, Identification and implementation of
Systemic Improvement measures, Leveraging of 1. Mrs Nirupama Kotru-[DIN-09204338]- JS & FA, MoC Sustainable Development Committee including CSR was ‘APPOINTMENT AND REMUNERATION
IT for compliant disposal, Updation of Circulars/ constituted by CIL Board of Directors in its 282nd meeting INCLUDING CRITERIA FOR DETERMINING
2. Shri Nagaraju Maddirala-[DIN-06852727]
Guidelines/ Manuals and Disposal of Complaints. held on 16-04-2012. This Committee was renamed QUALIFICATIONS, POSITIVE ATTRIBUTES,
- Addl.Secy,MoC.
Stake-holders’ and Customers’ Meets have been as CSR Committee in pursuant to Section 135 of the INDEPENDENCE OF A DIRECTOR AND OTHER
organized and suggestions/ issues raised are acted c) Independent Directors: - Companies Act, 2013 and the Companies (Corporate MATTERS PROVIDED UNDER SUB-SECTION
upon. During this week Integrity pledge, Essay Social Responsibility) Rules, 2014. This committee was (3) OF SECTION 178.
1. Prof. G. Nageswara Rao –[DIN-08461461] reconstituted on 12th November 2021 comprising of 2
writing competition, speech competition, online MCA vide Notification dated 5th June’2015 had exempted
quiz amongst the school and college students, 2. CA Denesh Singh – [DIN-08038875] Independent Directors, 1 Govt. Nominee Director and
the above for Government companies.
drawing and painting competition of students, 3. Shri B. Rajesh Chander – [DIN-02065422]
164 165
34. REMUNERATION POLICY OF DIRECTORS, 39. SEXUAL HARASSMENT OF WOMEN AT THE f) Proper systems have been devised to ensure 44. SECRETARIAL AUDIT
Corporate Overview
KMPS AND SENIOR MANAGEMENT – WORKPLACE compliance with the provisions of all applicable
In pursuance of Section 204 of Companies Act 2013,
SECTION 178(4). The company has an Anti-Sexual Harassment Policy in
laws and such systems were adequate and
Company had conducted Secretarial Audit for the
operating effectively.
MCA vide Notification dated 5th June’2015 had exempted line with the requirements of The Sexual Harassment year 2023-24 by a peer reviewed practising Company
the above for directors of Government companies. of Women at the Workplace (Prevention, Prohibition & For CIL (Consolidated) Financial Statements, such confirmation Secretary firm M/s Mehta & Mehta, Practising Company
Redressal) Act, 2013. Internal Complaints Committee is based on confirmation obtained from ten Indian subsidiaries Secretaries whose appointment was approved by CIL
(ICC) is working at every Subsidiary and office of Coal of CIL viz: Eastern Coalfields Limited, Bharat Coking Coal Board. Company has obtained ‘Secretarial Audit Report’
35. A STATEMENT INDICATING THE MANNER
India Limited to redress complaints regarding sexual Limited, Central Coalfields Limited (consolidated), Northern for the year 2023-24 in form MR-3 and the response
IN WHICH FORMAL ANNUAL EVALUATION
harassment. All women employees (permanent, Coalfields Limited, Western Coalfields Limited, Mahanadi to their comment is enclosed in Annexure 18. In
HAS BEEN MADE BY THE BOARD OF ITS
contractual, temporary, trainees) are covered under the Coalfields Limited (consolidated), South Eastern Coalfields addition, CIL has 6 Material Unlisted Subsidiaries and
OWN PERFORMANCE AND THAT OF ITS
said policy. The ICC members of Coal India Limited, Limited (consolidated), Central Mine Planning & Design their Secretarial Audit Report alongwith observation of
COMMITTEES AND INDIVIDUAL DIRECTORS.
Statutory Reports
headquarters as on 31st March’24 are as follows: Institute Limited, CIL Solar PV Limited and CIL Navikarniya Secretarial Auditor and Management Reply thereof are
MCA vide notification dated 5th June’2015 had exempted also annexed as per Regulation 24A of LODR 2015.
Urja Limited. However, for the overseas subsidiary viz. Coal
evaluation mechanism for Govt. Companies. 1. Smt. Ratna Tripathy - Chairperson
India Africana Limitada, incorporated under Mozambique
2. Shri Amitabh Kumar Singh- Member Commercial Code and for Joint Ventures viz. International 45. STATEMENT INDICATING DEVELOPMENT
36. CONTRACTS OR ARRANGEMENTS WITH 3. Smt. Namrata Shukla- Member Coal Ventures Private Limited, NTPC Urja Private Limited, AND IMPLEMENTATION OF RISK
RELATED PARTIES 4. Ms. Shweta Loharuka - Member Hindustan Urvarak & Rasayan Limited, Talcher Fertilizers MANAGEMENT POLICY
Related Party Transactions made with the Subsidiary Limited and Coal Lignite Urja Vikas Private Limited where
5. Shri Arun Bohra - Member CIL has approved Risk Management Charter and Risk
companies were exempted under Regulation 23(5)(a) CIL is not the majority shareholder, such confirmation has
6. Ms. Pallabi Halder - NGO Member Registers to build up a strong Risk Management Culture to
and (b) of Securities and Exchange Board of India (Listing not been obtained.
achieve company’s goals and objectives. The entity level
Obligations and Disclosure Requirements) Regulations, No sexual harassment complaint was received during the Risk Assessment comprises Strategic Risk, Operational
Internal Financial Control & its Adequacy: (Details
2015 being transactions between two government F.Y. 2023-24 at Coal India Limited Hqs. Risk, Financial Risk, Compliance Risk, Project Related Risk
are disclosed in MDAR)
companies and transactions entered between a holding and Support System Risk.
and its wholly owned Subsidiaries whose accounts are
40. DIRECTORS’ RESPONSIBILITY STATEMENT 41. ACCOUNTS OF THE SUBSIDIARIES
consolidated with holding company and placed before As per the Risk Register, various risks have been
the shareholders at the general meeting for approval. In terms of Section 134(3) (c) of the Companies Act, 2013, The statement containing the salient features of the identified for CIL & its Subsidiaries. Risk Owner & Risk
Accordingly, Form AOC 2 is not applicable. read with the Significant Accounting Policies at Note-2 & financial statements of company’s Subsidiaries, Associate Mitigation Plan Owners have been nominated for each
Additional Notes on Accounts at Note-38 forming part companies and Joint ventures under the first proviso to risk identified to ensure continuous monitoring and
of CIL (Standalone) Accounts and Significant Accounting sub-section (3) of section 129 of Companies Act,2013 mitigation thereof. A Risk Management team headed by
37. LOAN, GUARANTEES OR INVESTMENTS BY Policies at Note-2 & Additional Notes on Accounts at Note- is enclosed as AOC 1 in Annexure 17. In terms of CRO in consultation with HoDs and under the guidance of
A COMPANY UNDER SECTION 186 OF THE 38 forming part of CIL (Consolidated) Accounts. General Circular No.2/2011 dated 8th Feb 2011 from the Risk Management Committee had implemented the
COMPANIES ACT’2013
Ministry of Corporate Affairs, the Annual Accounts of governance process envisaged in the Risk Management
Loan, guarantees and investments made by Coal India It is confirmed that: the Subsidiary companies shall be made available to the Framework along with formulation of Risk Mitigation
Limited in terms of Section 186 of the Companies Act shareholders on demand. plans for RTMs (Risk That Matters) of CIL. The Seven RTMs
a) In the preparation of the Annual financial statements,
2013 is enclosed in Annexure 16. of CIL under purview of risk management are :
the applicable Indian Accounting Standards have
been followed and no material departures have 42. COST AUDIT REPORT & COST AUDITOR 1. Risk due to unviable Underground, Mining operations
38. FAMILIARIZATION PROGRAMME OF BOARD been made from the same;
M/s R. M. Bansal & Co conducted Cost Audit of CIL
MEMBERS. 2. Cyber Security Risk,
b) The Accounting Policies have been selected and (Standalone) for the Financial Year 2022-23 and Cost Audit
Board of Directors are fully briefed on all business-related Report was approved by the Board of Directors at its meeting
applied consistently and judgements and estimates 3.
Competition risk from Commercial
matters, associated risk and mitigation measure taken by held on 25th September, 2023 at Kolkata. All the Cost records
made that are reasonable and prudent so as to mining and renewables
the company, new initiatives etc. of the company. The as specified by the Central Government under sub-section
give a true and fair view of the state of affairs of the
Board of directors were also briefed about the provisions (1) of section 148 of the Companies Act, 2013 are made 4. Credit risk of receivables,
company at the end of the financial year and profit
of Companies Act 2013, Prohibition of Insider Trading and maintained.
and loss of the company for that period;
Regulations as amended and SEBI (Listing Obligations 5.
Operational Safety Risk arising out of
M/s R. M. Bansal & Co was appointed as Cost auditor for CIL
and Disclosure Requirement) Regulations 2015. c) Proper and sufficient care has been taken for the mining Operations
Standalone for the Financial Year 2023-24 & FY 2024-25 and
maintenance of adequate accounting records e-form CRA-2 has been filed with MCA.
As per regulation 46 of SEBI (Listing Obligations and 6. Evacuation challenges for coal offtake and
in accordance with the provisions of this Act for
Disclosure Requirement) Regulations 2015, the details 43. IMPORT
safeguarding the assets of the Company and 7.
Technology upgradation and improvement of
of familiarization programmes given to Independent
for preventing and detecting fraud and other Imports made by Coal India Ltd (Consolidated) in the last 3 availability & utilization of HEMM.
Directors is to be disclosed on the website of the
irregularities; years is as below:
company. The same is disclosed in company’s website To strengthen the existing Cyber Security measures,
and link is given hereunder: - (H in Crores)
d) The Annual Financial Statements have been Assessed Custom Duty CIL intends to enhance its approach by implementing
prepared on a going concern basis; Year
Value Including GST & Cess thorough IT Security risk assessments and establishing a
https://d3u7ubx0okog7j.cloudfront.net/documents/
2021-22 517.78 168.71 roadmap for Information Security Management System
Familiarization__Training_Programmes_imparted_to_ e) Internal Financial Controls have been laid down 2022-23 1028.31 263.04 (ISMS) across CIL and its Subsidiaries.
Independent_Directors_For_the_TaWcM39.pdf and such controls are adequate and were operating 2023-24 710.21 228.32
effectively during the year ended 31st March'2024.
166 167
46. PARTICULARS OF SENIOR MANAGEMENT 5. Policy on determination of Materiality under was transferred to IEPF Account on 10th April,
Corporate Overview
SEBI(LODR) Regulations,2015 2024. In addition, 33,235 shares in respect of
In the FY 2023-24, the following Executives were appointed in the post of Executive Directors:
https://d3u7ubx0okog7j.cloudfront.net/ which dividend remained unclaimed for the last 7
Sl. d o c u m e n t s / Po l i c y _ o n _ d e t e r m i n a t i o n _ years had also been transferred to IEPF Account on
EIS Name Designation Date of Joining
No. of__Materiality_under_SEBI_LODR__ 14.05.24. The details are available in CIL website.
1 90089210 Pratul Dev Sharma Ed (Materials & Contracts) 01-JUL-2023 Regulations_2015__030_CnX61Sk.PDF
Further 2nd Interim Dividend amount for the financial
2 90040890 Sujay Halder Ed (Marketing & Logistics) 01-JUL-2023
6. Policy on Preservation of documents including year 2016-17 amounting to H 19,00,874/- was
Archival Policy under SEBI(LODR) Regulations transferred to IEPF Account on 30th April, 2024. In
In the FY 2023-24, the following Executives holding posts of Executive Directors have superannuated /have been selected
2015 addition, 14065 shares in respect of which dividend
for higher post:
remained unclaimed for the last 7 years had also
https://d3u7ubx0okog7j.cloudfront.net/ been transferred to IEPF Account on 31.05.24. The
Sl. Reason of Date of separation
Statutory Reports
EIS Name Designation documents/Policy_on_Preservation_of_documents_ details are available in CIL website
No. vacation of post from post
i n c l u d i n g _ A r c h i v a l _ Po l i c y _ u n d e r _ S E B I _
1 90183617 Ajay Kumar Choudhary Ed (Personnel) RETIRED 31-MAY-2023 LODR__ZXTbKI6.pdf 4. No Statutory, Secretarial, and Cost Auditors had
2 90113333 A S Bapat Ed (Environment) SELECTED AS 01-JUN-2023 resigned during the year 2023-24.
D(T) MCL 7. Dividend Distribution Policy under SEBI
3 90089186 Ambuj Kumar Mohanty Ed (Materials & Contracts) RETIRED 30-JUN-2023 (LODR) Regulations 2015 5. No relative of any Director was appointed to
4 90108911 Dr. Anurag Garg Ed (Marketing & Logistics) RETIRED 30-JUN-2023 place of profit.
https://d3u7ubx0okog7j.cloudfront.net/
5 90176355 M K Singh Ed (Coordination) RETIRED 31-OCT-2023
documents/Dividend_Distribution_policy_of_Coal_
6 90080847 Narayan Dash Ed (Safety & Rescue) RETIRED 30-NOV-2023 6. As per Regulation 32(4) of SEBI (Listing Obligations
India_Limited_25102017_QwCV1sY.pdf
7 90102997 Rakesh Ed (Ict) RETIRED 31-DEC-2023 and Disclosure Requirement) Regulations, 2015
8 90187097 Soumitra Singh Ed (Solar) RETIRED 31-MAR-2024 8. Annual Return for the year 2023-24. deviation of Proceeds of Public issue is not
applicable to the company.
Pursuant to Section 92(3) read with Section 134(3)(a)
47. FOREIGN EXCHANGE EARNING AND OUTGO 50. SIGNIFICANT AND MATERIAL ORDERS
of the Act, the Annual Return as on March 31, 2024 7. There is no deposit covered under Chapter V of
UNDER RULE 8 OF COMPANIES (ACCOUNTS) PASSED BY THE REGULATORS OR COURTS
is available on the Company’s website on :- https:// Companies Act 2013.
RULES 2014 ETC.
d3u7ubx0okog7j.cloudfront.net/documents
The details of Foreign Exchange Earnings and Outgo are The details regarding significant and material orders /Draft_AR_2324.pdf 8. There is no deposit, which is not under compliance
provided in Annexure 19. passed by the regulators or courts etc are provided of Chapter V of Companies Act 2013.
in Annexure 22. 9. Business Responsibility and Sustainability
Report (BRSR) 2023-24 9. There is no change in the nature of business.
48. DETAILS ABOUT TECHNOLOGY ABSORPTION
AND RESEARCH AND DEVELOPMENT OF THE 51. CORPORATE GOVERNANCE REPORT As per Regulation 34(2) of SEBI (LoDR) Regulations 10. No Director is in receipt of any commission from
COMPANY The detailed Corporate Governance Report is provided
2015, top one thousand listed entities based Subsidiary companies in which he is a director.
on market capitalization is required to prepare
The details of Technology Absorption and Research in Annexure 23.
a Business Responsibility and Sustainability 11. Applicable Secretarial Standards have been duly
and Development of the Company are provided
Report(BRSR) on the environmental, social and followed by the Company.
in Annexure 20.
52. WEBLINK governance disclosures. Accordingly CIL had
12. There are no Material changes in company business
The following policies are uploaded and may be accessed prepared a Business Responsibility and Sustainability
49. DISCLOSURE AS PER SECTION 135 OF THE from the end of financial year 2023-24 till the date of
on the Company’s website as under: - Report for FY2023-2024. CIL had obtained Limited
COMPANIES ACT 2013 ON CORPORATE this Board Report.
Assurance of BRSR 23-24 from M/s SR Asia. As per
SOCIAL RESPONSIBILITY 1. Corporate Social Responsibility Policy: NSE circular no NSE/CML/2024/11 dated: May 10, 13. There has been no application made or any
CIL’s CSR initiatives and activities are aligned to the https://d3u7ubx0okog7j.cloudfront.net/ 2024, the BRSR can be provided as a LINK in the proceeding pending under the Insolvency and
requirements of Section 135 of the Companies act’ 2013. documents/CSR_Policy_w.e.f._08.04.2021.pdf Annual Report of the Company instead of publishing Bankruptcy Code, 2016 as at the end of the
the whole report. As such the BRSR 2023-24 can be financial year 2023-24.
A brief outline of the CSR policy of the Company and 2. Vigil Mechanism/Whistle Blower Policy: accessed from the link given as under:-
the initiatives undertaken by the company during 14. The details of difference between amount of the
the year are set out in Annexure 21 of this report in https://d3u7ubx0okog7j.cloudfront.net/ valuation done at the time of one-time settlement
documents/whistle-blower-policy_TYEsLJw.pdf
the format prescribed in the Companies (Corporate documents/Coal_India_BRSR_26_07_2024_V3.pdf and the valuation done while taking loan from
Social Responsibility) Rules, 2014. This policy is 3. Policy for determining Material Subsidiaries: the Banks or Financial Institutions along with the
available on the Company’s website at https:// 53. CONFIRMATION BY CIL: - reasons thereof- Not applicable in CIL for the
d3u7ubx0okog7j.cloudfront.net/documents/CSR_ financial year 2023-24.
documents/POLICY_FOR_DETERMINING_ 1. None of the Directors are disqualified for
Policy_w.e.f._08.04.2021.pdf
MATERIAL_SUBSIDIARIES_21032015.pdf appointment as per Section 164 of the
For other details regarding the CSR Committee, please Companies Act’2013. 54. ADDITIONAL INFORMATION
4. Related Party Transaction Policy:
refer to the Corporate Governance Report, which is a part 1. Details in respect of frauds reported by
https://d3u7ubx0okog7j.cloudfront.net/ 2. Company has not issued any Equity share
of this report. Auditors under section 143(12) other than
documents/Related_Party_cOumNP8.pdf with differential voting rights, Sweat Equity
those which are reportable to the Central
shares and ESOP.
Government.:
3. The Unclaimed 1st Interim Dividend amount for the
financial year 2016-17 amounting to H 1,54,02,937/-
168 169
No such report of fraud as per the Audit Report improving service to valued customers and enhancing
ADDENDA
Corporate Overview
of Standalone as well as Consolidated Financial overall performance.
Statements has been received.
Our employees have consistently demonstrated their
2. Material changes and commitments, if any, unwavering dedication to achieving excellence. Your The following are annexed:- xiii) Subsidiary wise Overburden Removal. (Annexure 10B).
affecting the financial position of the company Directors commend their valuable contributions and i) Profit of CIL & its Subsidiaries for 2023-24 vis-à-vis 2022- xiv) Population of Equipment. (Annexure 11)
which have occurred between the end of the eagerly anticipate their continued commitment and 23 (Restated) (Annexure 1).
Financial Year and the date of the report: enthusiasm in the future, as they strive to propel CIL to xv) Subsidiary wise details of Capital
new heights of success. ii) Subsidiary wise details of Dividend income received by Expenditure. (Annexure 12)
No such material changes and commitments
CIL Standalone (Annexure 2).
occurred between the end of the Financial Year
As we reflect on the achievements and challenges of the xvi) Status of Project Implementation (Annexure 13)
and the date of the report which may affect the iii) The comments of the Comptroller and Auditor General of
past year, we want to extend our heartfelt gratitude to
Standalone as well as the consolidated financial
Statutory Reports
each of you for your unwavering support and trust in our India on Standalone & Consolidated Financial Statements xvii) Safety performance. (Annexure 14)
position of the company. of Coal India Limited (Annexure 3).
company. Your confidence in our vision and commitment
has been the cornerstone of our success. xviii) Subsidiary wise manpower and other data. (Annexure 15)
3. The names of companies which have become iv) Auditors Report on the Standalone Financial Statements
or ceased to be its subsidiaries, joint ventures Despite the uncertainties and obstacles we faced, your for the year ended 31st March, 2024 including Report on xix) Loan and Advances, Guarantees, Investments made by
or associate companies during the financial steadfast belief in our endeavors has been a source of the Internal Financial Controls under Clause (i) of Sub- the company under Section 186(4) of the Companies
year. inspiration and motivation for us. Your investment in our section 3 of Section 143 of the Companies Act, 2013 (“the Act’2013 (Annexure 16).
There were no new incorporations or cessations company reflects not just a financial commitment, but a Act”) [Annexure 3(A)].
xx) Statement pursuant to first proviso to sub-section (3) of
of existing subsidiaries, joint ventures, or associate shared belief in our collective journey towards growth
v) Auditors Report on the Consolidated Financial Statements section 129 read with rule 5 of Companies (Accounts)
companies during the financial year 2023-24. and prosperity.
Rules, 2014 as on 31st March, 2024. (Annexure 17).
for the year ended 31st March, 2024 including Report on
As we navigate the road ahead, we assure you that we the Internal Financial Controls under Clause (i) of Sub-
55. ACKNOWLEDGEMENT: xxi) Secretarial Audit Report under Section 204
remain dedicated to upholding the highest standards of section 3 of Section 143 of the Companies Act, 2013 (“the
of Companies Act 2013 and Secretarial Audit
The Board of Directors of your Company expresses deep integrity, transparency, and performance. Your continued Act”)[Annexure 4].
Report of Material Subsidiaries and Management
appreciation for the dedicated efforts of the Company's support fuels our determination to explore new
vi) Subsidiary wise Coal Off-take. (Annexure 5) Explanation. (Annexure 18).
employees and Trade Unions. The Directors gratefully opportunities, innovate, and deliver sustainable value.
acknowledge the valuable guidance, cooperation vii) Sector-wise dispatch of coal & coal products. (Annexure 6) xxii) Foreign Exchange Earning and Outgo under Rule 8 of
and support extended by various Ministries of the Together, we are poised to overcome challenges, seize
Companies (Accounts) Rules 2014 (Annexure 19).
Government of India, especially the Ministry of Coal, as opportunities, and create a brighter future for our
viii) Subsidiary wise details of Stock of Coal. (Annexure 7)
well as the State Governments. Additionally, the Directors company and all our stakeholders. We appreciate your xxiii) Details about Technology Absorption and Research and
extend thanks to the Statutory Auditors, the Comptroller trust, cooperation, and dedication to our shared vision. ix) Subsidiary wise details of Trade Receivables. (Annexure 8) Development of the Company (Annexure 20).
and Auditor General of India, Registrar of Companies,
x) Subsidiary-wise Statutory Levies paid during xiv) Disclosure as per Section 135 of the Companies Act
Secretarial Auditors, and Cost Auditors for their assistance
2023-24. (Annexure 9) 2013 on Corporate Social Responsibility (Annexure 21).
and guidance. Your Directors also sincerely thank the For and on behalf of the Board of Directors
consumers for their continued patronage. xi) Subsidiary-wise Coking & Non-coking production, xxv) Significant and Material Orders passed by the Regulators
Production from underground and opencast or Courts etc. (Annexure 22).
Your Directors also convey their appreciation to all (P.M.Prasad)
mines. (Annexure 10)
dealers and vendors across the country for their trust Dated: 22nd July, 2024 Chairman xxvi) Corporate Governance Report. (Annexure 23)
and confidence in the Company, which contributes to Place: Kolkata (DIN-08073913) xii) Subsidiary-wise Washed Coal (Coking)
Production. (Annexure 10A)
170 171
Annexure 1 Annexure 3
Corporate Overview
The comments of Comptroller and Auditor General of India
Profit of CIL & subsidiaries for 2023-24 vis-à- on Standalone and Consolidated Financial Statements of Coal
vis 2022-23 (Restated) India Limited.
(H in crores)
Company FY 2023-24 FY 2022-23 (Restated) Increase/(Decrease)
ECL 213.49 1,280.42 (1,066.93)
BCCL 2,091.67 530.19 1,561.48
Statutory Reports
CCL (consolidated) 4,729.90 4,609.17 120.73
NCL 10,843.63 9,506.86 1,336.77
WCL 4,181.67 2,161.34 2,020.33
SECL (consolidated) 9,047.98 5,210.90 3,837.08
MCL (consolidated) 15,589.92 18,789.28 (3,199.36)
CMPDIL 732.84 366.95 365.89
CIL (Standalone) 16,042.12 15,093.51 948.61
CIAL , CSPL & Other Adjustment 0.54 (0.17) 0.71
Sub-Total 63,473.76 57,548.45 5,925.31
Less: Dividend from Subsidiaries 15,087.98 14,265.71 822.27
Share of Joint Venture profit/(loss) 426.83 (8.14) 434.97
Profit Before Tax 48,812.61 43,274.60 5,538.01
Less : Tax on PBT 11,443.48 11,551.62 (108.14)
Profit for the Year 37,369.13 31,722.98 5,646.15
Add : Other Comprehensive Income (OCI) net of tax (415.45) 264.63 (680.08)
Total Comprehensive Income 36,953.68 31,987.61 4,966.07
Annexure 2
Subsidiary wise details of Dividend income

received by CIL Standalone
(H in crores)
Dividend Income of CIL Standalone
Company (paying subsidiaries)
2023-24 2022-23
CCL 1023.66 1023.66
NCL 4195.76 3659.46
SECL 749.55 1063.54
MCL 9000.00 8425.00
CMPDIL 119.00 94.05
Total 15087.98 14265.71
172 173
175
174
177
176
179
178
181
180
183
182
185
184
187
186
Management’s Response to Final comments of the Comptroller and Auditor General of India in C&AG’s Sl.
Corporate Overview
Supplementary Audit of Standalone Financial Statements for FY 2023-24 C&AG observation Management Explanation
No.
development phase for the Jharia CBM block would be As per Ind AS 1, Information is material if omitting, misstating
Sl. 23/04/2013 and 28/05/2021 respectively as per article 10.1 of or obscuring it could reasonably be expected to influence
C&AG observation Management Explanation the contract. However, Board of Directors (BoD) of CIL decided decisions that the primary users of general-purpose financial
No.
(14/10/2020) that the commencement date of development statements make on the basis of those financial statements,
Standalone Financial Statement phase would be considered with effect from 29/05/2017. which provide financial information about a specific
A. Comment on Profitability Consequently, the claim of ONGCL amounting to H17.18 reporting entity.
A.1 Statement of Profit and Loss – Standalone CIL recognises the R&D expenses by following the under crore for the period from 23/04/2013 to 28/05/2017 was Further, there is neither specific requirement of such
Expenses mentioned procedures: neither paid by CIL nor accounted for as liability. Moreover, disclosures in the financial statements nor the item is material
Other Expenses (Note 13.7) H51.13 crore relating to the period from 29/05/2021 to in amount or nature.
Statutory Reports
1) The implementing agencies of R&D projects issues
Research & Development Expenses J Nil utilization certificates and GST invoices to the nodal 31/03/2024 was booked under Capital Work-in-Progress
Coal India Limited (CIL) gave H57.42 crore as advance agencies CMPDIL. instead of writing-off as expenses, since clarification received
to CMPDIL in respect of 14 numbers of Research and from DGH on 16/04/2024 was once again referred back to
2) On receipt of util. cert. and GST invoices from the
Development (R&D) projects, which were eventually DGH for review in light of the fact that production phase was
implementing agency, CMPDIL issues the GST invoices
completed during 2022-23 and 2023-24. expected to commence from December 2024 by CIL. This
in favour of CIL.
Paragraph 54 of Ind AS 38 on Intangible Assets states that was, however, contrary to CIL Bolls decision (14/10/2020)
expenditure on research (or on the research phase of an 3) On receipt of GST invoices from CMPDIL, CIL recognises to treat DGH’s clarification as final and binding. The above
internal project) shall be recognized as an expense when it R&D expenses in the books. facts was to be suitably disclosed in the financial statements
is incurred In contrast to the requirements of Ind AS 38, an In the above referred 14 no. of cases, either utilisation for ensuring true and fair disclosure in accordance with the
amount of H57.42 crore was not charged off as expenditure certificate or GST invoices were not issued by the provisions of Ind AS 1.
against the advances given to CMPDIL. implementing agency to CMPDIL. In the absence of the This resulted in deficiency in disclosure requirements.
Non-adjustment of R&D expense against the advance above documents CMPDIL has not issued the GST invoices B.2 Additional Notes to the Standalone Financial Statements The commitment was reported in financial statements based
given to CMPDIL resulted in understatement of Other till the end of Financial Year. Accordingly, CIL has not (Note 16) Other Commitments (Item-1.a.II.b): H 471.65 crore on the report generated in SAP.
Expenses with corresponding overstatement of Profit for recognised the above R&D expenses in the books and were The above includes H105.30 crore towards Purchase Orders Based on audit observation it was noticed that due to the
the year by H 57.42 crore. Other Current Assets was also shown as Advance. displayed in the SAP-ERP software, contracts / works in respect non-removal of irrelevant P.O. in SAP, the commitment was
overstated to the same extent. Moreover, the impact of the adjustment is immaterial in the of which were non-existent as on 31 March 2024. over-reported to that extent. Endeavour will be taken to
financial statements. Paragraph 14 (d) of Ind AS 1 on Presentation of Financial strengthen the internal control system on the matter.
B. Comment on Disclosure Statements states that an entity shall disclose, inter alia, other
Since, the amount of the over-reported commitment is
B.1 Balance Sheet-Standalone disclosure including unrecognized contractual commitments.
Based on the approval of the Board vide minutes item No immaterial, Comment of C&AG does not hold significance.
Assets This resulted in overstatement of Other Commitments by H
413.6 (G) CIL has been recognizing its share in the assets
Capital Work-in-Progress (Note-3.2) 105.30 crore.
and liabilities in joint operation as per Ind AS 111 w.e.f.
Other Mining Infrastructure: J 71.83 crore 29.05.2017.
B.3 Material Accounting Policies (Note 2) The existing material accounting policy on intangible assets
Paragraph 21 of Ind AS 111 on Joint Arrangement states The DGH has restricted the development phase up to Intangible Assets and Amortization (Note 2.11) is consistently being disclosed since implementation of
that a joint operator shall account for the assets, liabilities, 28.05.2021; however, in reality, development is still ongoing, Paragraph 118 of Ind AS 38 on Intangible Assets states that an Ind AS. There has not been any change in the consistently
revenues and expenses relating to its interest in a joint with more than 50% yet to be completed. entity shall disclose the .following for each class of intangible followed policy on intangible assets during the year.
operation in accordance with the Ind ASs applicable to the
The clarification received from DGH has already been assets, distinguishing between internally generated intangible However, based on the observation, necessary additional
particular assets, liabilities, revenues and expenses. Further,
referred back to DGH for review in light of the facts that the assets and other intangible assets, viz. (a) whether the useful disclosure suggested in the observation will be made in the
Paragraph 112 (c) of Ind AS-1 on Presentation of Financial
production phase is yet to commence. lives are indefinite or finite and if finite, the useful lives or financial statement from the FY 2024-25 onwards.
Statements states that an entity has to provide information
Since, the clarification of DGH has been referred for amortisation rates used; and (b) the amortization methods
that is not presented elsewhere in the financial statements,
reconsideration, recognising assets, liabilities income and used for intangible assets with finite useful lives.
but is relevant to an understanding of any of them. Paragraph
expenses from the date claimed by ONGC will be non- Coal India Limited (CIL) disclosed gross value of H140.33
15 further states that additional disclosure, when necessary,
compliance to Ind AS 111, Joint operations and capitalizing crore (net carrying amount of H93.90 crore) of computer
is presumed to result in financial statements that present a
the asset merely based on documentary support of DGH letter software under Note 3.4: Intangible Assets. CIL, however, did
true and fair view Coal India Limited (CIL) embarked upon
dated 16th April 2024, whereas the asset is under development not comply with the disclosure requirements of Ind AS 38 as
a Coal Bed Methane (CBM) project with Oil and Natural
will be against the concept of substance over form. mentioned supra either in their Material Accounting Policies
Gas Corporation Limited (ONGCL) as an un-incorporated
or by way of an explanatory note under Note 3.4: Intangible
joint venture in Jharia and Raniganj North CBM Blocks Also, as per Ind AS 16 –
Assets.
under the aegis of Directorate General of Hydrocarbons Property, plant and equipment are tangible items that: Thus, disclosure on Material Accounting Policy No.2.11
(DGH) having Participating Interest of 10 per cent since
(a) are held for use in the production or supply of goods or read with Note 3.4 on Intangible Assets and Amortization
17/10/2003, which increased to 26 per cent in 25/01/2021.
services, for rental to others, or for administrative purposes; was deficient to that extent.
Pursuant to the preparation of Field Development Plan (FDP)
and
by ONGCL in January 2013, disputes arose on the period of
recognition of the development phase. DGH finally clarified (b) are expected to be used during more than one period.
(16/04/2024) that the commencement and completion dates of Given the above, capitalizing the asset not held for use in
production will also be non-compliance with the Ind AS 16
188 189
Sl. Management’s Response to Final comments of the Comptroller and Auditor General of India in C&AG’s
Corporate Overview
C&AG observation Management Explanation Supplementary Audit of Consolidated Financial Statements for FY 2023-24
No.
B.4 Material Accounting Policies (Note 2) Para 15 of the appendix B of Ind AS 16 property, plant and
Stripping Activity (Note 2.19) equipment the stripping activity asset shall be depreciated
Material Accounting Policy on Stripping Activity of Coal India or amortised on a systematic basis, over the expected Sl.
C&AG observation Management Explanation
Limited (CIL). inter alia, mentioned that when the actual useful life of the identified component of the ore body that No.
volume of overburden removed is greater than the expected becomes more accessible as a result of the stripping activity.
A. Comment on Profitability
volume of overburden removal, the stripping cost for excess The accounting policy of the company states that the A.1 Statement of Consolidated Profit & Loss As per clause 11.5 of the FSA, ECL and NTPC jointly
overburden removed over the expected overburden removal stripping activity asset is amortized over the life of the mine. Expenses reconciled the transaction details for coal supplies,
is capitalized to the stripping activity asset. The stripping
It is implied that the Stripping activity asset will be amortised Other Expenses (Note-13.8) including a summary of the disputed dues for each NTPC
activity asset is amortized over the life of the mine.
Statutory Reports
over the expected useful life of the identified component of Provisions: J 1189.79 crore power plant.
Pursuant to change in its Accounting Policy concerning
the ore body that becomes more accessible as a result of the This does not include 214.52 crore being provision It should be noted that NTPC has claimed excess surface
Stripping Activity, CIL, through Uniform Process Notes,
stripping activity. unaccounted for towards refund claim by M/s NTPC from moisture, but ECL has not acknowledged this claim in
instructed all its Subsidiaries to systematically reverse
Further the depreciation/amortisation of property, plant, and Rajmahal Area of Eastern Coalfields Limited (ECL) in respect the summary of disputed dues due to the geological and
the balance of Ratio Variance Reserve. It also restricted
equipment and intangible assets are covered by different of excess surface moisture content in coal dispatched beyond meteorological conditions at the Rajmahal coal mines.
further addition (Policy 2.24) of Ratio Variance Reserve and
policies. stipulated norms1 of FSA for the years 2016-17 to 2021-22. Unless the claim is acknowledged by the entity, it cannot
emphasized creation of only Stripping Activity Assets (Policy
Against the total claim amount of 258.72 crore2, Rajmahal Area be considered an obligation in accordance with Ind AS
2.20). By virtue of this change in accounting policy, Stripping Accounting policies of other Indian and international mining
had made a provision of H 44.20 crore in the previous years. 37, Provisions, Contingent Liabilities, and Contingent
Activity Asset is being consistently featured under Property, companies are also similarly disclosed.
A reference is invited to Para 14 of Ind AS-37 on Provisions. Assets. This factual disclosure was disclosed in the financial
Plant, and Equipment (Note 3.1) w.e.f. 01.04.2022 onwards Furthermore, the stripping activity accounting in standalone Contingent Liabilities, and Contingent Assets wherein it is statements of ECL.
with retrospective effect of change, instead of the existing financial statements was not required as per the material stated that a provision shall be recognized when an entity has
policy of adjusting the figure of such asset with ratio variance accounting policy during the financial year 2023-24 and Considering the immateriality of the amount, disclosure
a present obligation (legal or constructive) as a result of a past
as and when the situation arises that was followed till 2022-23. hence there is no financial impact on the standalone financial in the consolidated financial statements does not hold
event: it is probable that an outflow of resources embodying
The sentence ‘The stripping activity asset is amortized over statements.” significance at the group level.
economic benefits would be required to settle the obligation:
the life of the mine’ is also inserted by virtue of the above
and a reliable estimate can be made of the amount of the
change in accounting policy.
obligation. This is also reiterated in Significant Accounting
Generally, amortization is given effect to on three account
Policy No. 2.22.
heads, viz., leasehold land, intangibles, and stripping activity
Short provision of refund claims of NTPC towards surface
asset. Unlike leasehold land and intangibles where the
moisture content beyond stipulated norms, resulted
amortization for the related asset is charged in the same year,
in understatement of Provision of H 214.52 crore with
CIL chose to amortize stripping activity asset in the following
corresponding overstatement of Profit for the year. Trade
year on the plea that the benefits to be accrued from advance
Receivables was also overstated to the same extent.
stripping would only be realized from the succeeding year
The issue was commented in the consolidated financial
onwards. However, this deviation adopted by the Company
statements of CIL for the year 2022-23, but no action has been
from the usual application of amortization was not disclosed
taken by the Management so far.
in the Material Accounting Policy. Further, the said policy was
also silent on the fact whether the stripping activity asset
would be amortized over the ‘entire’ life of the mine or the 1
Surface moisture content ranging between 16.60 per cent
‘balance’ life of the mine. and 18.70 per cent against stipulated norm ranging between
Paragraph 29 of Ind AS 8: Accounting Policies, Changes in 7 per cent and 9 per cent specified in FSA.
Accounting Estimates and Errors states that when a voluntary
change in accounting policy has an effect on the current 2
H44.20 crore for the period from November 2016 to March
period or any prior period, an entity shall disclose (a) the 2019 and H38.91 crore for the years 2020-21 and 2021-22 by
nature of the change in accounting policy; (b) the reasons NTPC Farakka, and H175.61 crore for the years 2017-21 by
why applying the new accounting policy provides reliable and NTPC Kahalgaon.
more relevant information. Further, Paragraph 121 of Ind AS 1: A.2 Statement of Consolidated Profit and Loss The R&D expenses has been recognized by CIL on the
Presentation of Financial Statements states that an accounting Expenses following: CIL recognizes the R&D expenses by following
policy may be significant because of the nature of the entity’s Other Expenses (Note 13.8) the under mentioned procedures:
operations. Research & Development Expenses J 8.67 crore 1) The implementing agencies of R&D projects issues
Coal India Limited (CIL) gave H 57.42 crore as advance to CMPDIL utilization certificates and GST invoices to the nodal
Stripping activity being an integral part of the operations in respect of 14 numbers of Research and Development (R&D) agencies CMPDIL.
of a coal mine, disclosure about the basis and method of projects, which were eventually completed during 2022-23
2) On receipt of util. cert. and GST invoices from the
amortization on stripping activity asset alongwith reasons and 2023-24.
implementing agency, CMPDIL issues the GST
thereto was necessary to cater to the requirements of the Paragraph 54 of Ind AS 38 on Intangible Assets states that
invoices in favour of CIL.
users of financial statements in taking informed decisions expenditure on research (or on the research phase of an
internal project) shall be recognized as an expense when it is 3) On receipt of GST invoices from CMPDIL, CIL
which, incidentally, was absent in the policy statement.
incurred. recognises R&D expenses in the books.
Thus, disclosure on Material Accounting Policy No. 2.19
on Stripping Activity was deficient to that extent.
190 191
Sl. Sl.
Corporate Overview
C&AG observation Management Explanation C&AG observation Management Explanation
No. No.
In contrast to the requirements of Ind AS 38, an amount of In the above referred 14 no. of cases, either utilisation B.2 Consolidated Balance Sheet Based on the approval of the Board vide minutes item No
H 57.42 crore was not charged off as expenditure against the certificate or GST invoices were not issued by the Assets 413.6 (G) CIL has been recognizing its share in the assets
advances given to CMPDIL. implementing agency to CMPDIL. In the absence of the Capital work in Progress (Note-3.2) and liabilities in joint operation as per Ind AS 111 w.e.f.
Non-adjustment of R&D expense against the advance above documents CMPDIL has not issued the GST invoices Other Mining Infrastructure / Development: J 2010.46 crore 29.05.2017.
given to CMPDIL resulted in understatement of Other till the end of Financial Year. Accordingly, CIL has not Paragraph 21 of Ind AS 111 on Joint Arrangement states that a
Expenses with corresponding overstatement of Profit for recognised the above R&D expenses in the books and joint operator shall account for the assets, liabilities, revenues The Directorate General of hydrocarbons (DGH) has
the year by J 57.42 crore. were shown as Advance. and expenses relating to its interest in a joint operation in restricted the development phase up to 28.05.2021;
accordance with the Ind ASs applicable to the particular assets, however, in reality, development is still ongoing, with more
liabilities, revenues and expenses. Further, Paragraph 112 (c) than 50% yet to be completed.
Statutory Reports
Moreover, the impact of the adjustment is immaterial at the
of Ind AS-1 on Presentation of Financial Statements states
group level. The clarification received from DGH has already been
that an entity has to provide information that is not presented
B. Comments on Disclosure referred back to DGH for review in light of the facts that the
elsewhere in the financial statements, but is relevant to an
B.1 Statement of Consolidated Profit and Loss The amount pertains to statutory liabilities namely production phase is yet to commence.
understanding of any of them. Paragraph 15 further states that
Other Income (Note 12.2) MPGATSVA in MP for NCL, Composite User Fee in additional disclosure, when necessary, is presumed to result in Since, the clarification of DGH has been referred for
Interest Income: J 4574.44 crore Jharkhand for CCL, and RE Cess and PE Cess for ECL. It is financial statements that present a true and fair view. reconsideration, recognising assets, liabilities income and
This includes H 417.96 crore towards interest earned on the to clarify that the company’s liability, as per provisions of Coal India Limited (CIL) embarked upon a Coal Bed Methane expenses from the date claimed by ONGC will be non-
collection of statutory levies by Northern Coalfields Limited the relevant Acts/Rules, is strictly limited to the amounts (CBM) project with Oil and Natural Gas Corporation Limited compliance to Ind AS 111, Joint operations and capitalizing
(NCL)3, Eastern Coalfields Limited (ECL)4 and Central Coalfields computed under the provisions of the respective Acts/ (ONGCL) as an un-incorporated joint venture in Jharia and the asset merely based on documentary support of DGH
Limited (CCL)5 as on 31 March 2024. Interest is accrued during Rules. Since the liabilities as per respective acts are regularly
Raniganj North CBM Blocks under the aegis of Directorate letter dated 16th April 2024, whereas the asset is under
the intervening time period between collection of the statutory being paid by the companies within due date, therefore General of Hydrocarbons (DGH) having Participating Interest development will be against the concept of substance over
levies and consequent deposit with the concerned authorities. interest on such liabilities does not arise. As such, there has of 10 per cent since 17/10/2003, which increased to 26 per form.
Paragraph 118 on Ind AS 1 on Presentation of Financial been no claim or demand of payment of any interest by cent in 25/01/2021.
Statements stipulate that it is important for an entity to inform / concerned authorities. Pursuant to the preparation of Field Development Plan (FDP) Also, as per Ind AS 16 –
disclose the measurement basis or bases used in the financial Company has complied the Rules/Acts in toto. Therefore, by ONGCL in January 2013, disputes arose on the period of Property, plant and equipment are tangible items that:
statements because the basis on which an entity prepares the any further provision is not required. recognition of the development phase. DGH finally clarified (a) are held for use in the production or supply of
financial statements significantly affects users’ analysis. (16/04/2024) that the commencement and completion dates
Therefore, the C&AG’s requirements to recognise goods or services, for rental to others, or for
These three CIL subsidiaries, viz. NCL, ECL & CCL had been of development phase for the Jharia CBM block would be
additional liability for interest lacks justification in this case. administrative purposes; and
collecting statutory levies which were parked in their bank 23/04/2013 and 28/05/2021 respectively as per article 10.1 of
accounts and thereby earning interest on such accumulated the contract. However, Board of Directors (BoD) of CIL decided (b) are expected to be used during more than one period.
amounts. However, these subsidiaries had not created any (14/10/2020) that the commencement date of development
liability against the interest so earned till 31 March 2024 on phase would be considered with effect from 29/05/2017. Given the above, capitalizing the asset not held for use in
the statutory levies amounting to H 417.96 crore and instead Consequently, the claim of ONGCL amounting to H 17.18 crore production will also be non-compliance with the Ind AS 16.
has been treating the interest component as their own income. for the period from 23/04/2013 to 28/05/2017 was neither paid
This fact has not been disclosed, which is in deviation of the As per Ind AS 1, Information is material if omitting,
by CIL nor accounted for as liability. Moreover, H51.13 crore
provisions of Ind AS 1. misstating or obscuring it could reasonably be expected
relating to the period from 29/05/2021 to 31/03/2024 was
This resulted in deficiency in disclosure requirements. to influence decisions that the primary users of general-
booked under Capital Work-in-Progress instead of writing-off as
3
NCL has been collecting tax at such rate not exceeding twenty purpose financial statements make on the basis of those
expenses, since clarification received from DGH on 16/04/2024
per cent of the annual value of mineral bearing land under financial statements, which provide financial information
was once again referred back to DGH for review in light of the
Madhya Pradesh Gramin Avsanrachnachna Tatha Sadak Vikas about a specific reporting entity.
fact that production phase was expected to commence from
Adhinivam (MPGATSVA) Act 2005, on which interest accrued December 2024 by CIL. This was, however, contrary to CIL Further, there is no specific requirement of such
amounted to H 199.01 crore as on 31 March 2024. BoD’s decision (14/10/2020) to treat DGH’s clarification as final disclosures in the financial statements and considering the
and binding. The above facts were to be suitably disclosed in immateriality of the amount and nature, comment of C&AG
4
ECL has been collecting cess at such rate not exceeding
the financial statements for ensuring true and fair disclosure in for disclosure in the consolidated financial statements does
twenty per cent and five per cent of the annual value of
accordance with the provisions of Ind AS 1 not hold significance at the group level.
mineral bearing land under West Bengal Rural Employment
This resulted in deficiency in disclosure requirements.
and Production Act, 1976 and West Bengal Primary Education
Act, 1973 respectively on which interest accrued amounted
to H139.40 crore as on 31 March 2024. ECL has also been
collecting Composition User Fee (GM) notified by Government
of Jharkhand on which interest accrued amounted to H1.41
crore as on 31 March 2024.
5
CCL has been collecting Composition User Fee (CUF) notified
by Government of Jharkhand on which interest accrued
amounted to H78.14 crore as on 31 March 2024.
192 193
Sl. Sl.
Corporate Overview
No. No.
B.3 Consolidated Balance Sheet The mine closure cost rate (compounded annually at a 5% B.4 Material Accounting Policy As noted in the observation that the revenue recognition by
Liabilities escalation) used in the existing plan is approximately the Revenue recognition (Note 2.4) MCRL, a subsidiary of MCL has been recognised based on
Provisions — Non-Current same as in the updated guidelines (adjusted for the current Revenue from contracts with customers estimated rate unlike CERL, a subsidiary of SECL where the
Site Restoration / Mine Closure (Note-9.1.3): J 8180.20 crore WPI), leading to no significant financial impact. Material Accounting Policy No.2.4 on Revenue Recognition of revenue is recognised based on established mechanism
Paragraph 112 (c) of Ind AS-1 on Presentation of Financial Mahanadi Coal Railway Limited (MCRL), inter alia, stated that (customized access to Freight Operations Information
Statements states that an entity has to provide information that As per Ind AS 1, Information is material if omitting, the amount of revenue recognized reflects the consideration Systems).
is not presented elsewhere in the financial statements, but is misstating or obscuring it could reasonably be expected to which the Company is or expects to be entitled in exchange Revenue recognition mechanism followed by MCRL will be
relevant to an understanding of any of them. Paragraph 15 further to influence decisions that the primary users of general- for those goods or services. Accumulated experience is used reviewed in the light of provision of Ind AS 115 in FY 2024-25.
states that additional disclosure, when necessary, is presumed purpose financial statements make on the basis of those to estimate and provide for the variable consideration as per
Statutory Reports
financial statements, which provide financial information Considering the immaterial amount of H 11.57 crore and
to result in financial statements that present a true and fair view. the sales contract, using the most likely method, and revenue
about a specific reporting entity. its nature for disclosure in the consolidated financial
Ministry of Coal (MoC) issued (May 2020) guidelines enhancing is only recognized to the extent that it is highly probable that a
statements, the comment of the C&AG does not hold
Mine Closure Rate (MCR) from H6.00 lakh per hectare to H 9.00 significant reversal will not occur.
Hence, the non-disclosure of the pending mine closure significant relevance at the group level.
lakh per hectare in case of open cast mines and H1.00 lakh per Paragraph 57 of Ind AS 115 on Revenue from Contracts with
plan revision and unrecognised cost of mine closure of
hectare to 1.50 lakh per hectare in case of underground mines Customers points out that the amount of consideration being
abandoned/closed mines is not material either in nature or
with effect from 01 April 2019. Thereafter, Coal Controllers highly susceptible to factors outside the entity’s influence, and
amount for inclusion in the financial statements.
Organisation directed (September 2022) all subsidiaries of Coal contract having a large number and broad range of possible
India Limited (CIL) to revise the mine-wise annual closure cost consideration amounts are deterrent factors that could
schedule with respect to the guidelines issued in May 2020 by increase the likelihood or the magnitude of a revenue reversal.
MoC, to submit the final mine closure plan and updated cost for Paragraph 110 of Ind AS 115 states that qualitative and
various mine closure activities, and to execute amended Escrow quantitative disclosure about the significant judgments made
agreement at the earliest. This was followed by another set of by an entity is necessary to understand the nature, amount,
guidelines issued in October 2022 for the management of mines timing and uncertainty of revenue and cash flows arising from
discontinued / abandoned / closed before the year 2009, which contracts with customers.
stated that Temporary Mine Closure Plan (TMCP) for discontinued MCRL entered into a Joint Venture Agreement (02 December
/ abandoned mines and Final Mine Closure Plan (FMCP) for 2021) with East Coast Railway (ECoR) which conferred on the
closed mines were to be prepared with Board of Director (BoD)’s former the exclusive right, license and authority to construct,
approval and thereafter, mine closure activities were to be carried operate and maintain 68 km rail system route covering Angul-
out within 3 years and 5 years of TMCP and FMCP respectively. Balaram-Putagadia-Jarapada-Tentuloi stations for a period of
Based on May 2020 guidelines, Bharat Coking Coal Limited 30 years, in exchange for receiving a sum equal to 50 per cent
(BCCL) revised 16 Escrow Agreements and executed 02 new of the revenue apportionment from freight operations of the
Escrow Agreements out of total 49 Escrow Agreements, while rail system, determined in accordance with ‘Inter Railway
Central Coalfields Limited (CCL) revised 33 out of 67 exiting Financial Adjustment Rules’, as User Fee for using the rail
Escrow Agreements as on 31 March 2024. However, 31 nos. system. Accordingly, MCRL booked a total revenue of H20.93
and 34 nos. of remaining Escrow Agreements of BCCL and CCL crore as User Fee in the year 2023-24, out of which H7.26 crore
respectively could not be revised / updated as on 31st March 2024. (from November 2022 till June 2023) was actually received7
Based on October 2022 guidelines, Coal India Limited (CIL) from ECoR during the year. However, the total revenue also
identified 68 abandoned/closed mines out of which TMCP and included H 11.57 crore towards User Fee (from July 2023 to
FMCP for 28 and 34 mines respectively were approved by the March 2024) based on the number of rakes and average user
concerned BoDs of Subsidiaries during 2023-24 and it was fee for the preceding months, although no confirmation was
decided to incur H98.03 crore6 on mine closure activities in the received from ECoR.
next 3-5 years. This amount was not provided in the books on The essence of JV agreement mentioning determination of
the plea that in abandoned mines the underlying assets being revenue in accordance with Inter Railway Financial Adjustment
already exhausted, capitalization of dismantling cost against that Rules’8 attracts the provisions of Paragraph 57 of Ind AS 115,
asset would not be rational. Further, the option given by the said which is further supplemented by Paragraph 16 of Expert
guidelines to recover the cost of mine closure from the customers Advisory Committee of ICAI’s opinion9. However, neither
was also being evaluated. The above facts, however, needed Material Accounting Policy No. 2.4 nor any explanatory note
to be suitably disclosed in the financial statements. below Note 12.1: Revenue from Operations mentioned
whether the revenue estimation was based on the last finalized
Non-disclosure of facts which are integral to the
understanding of the users of financial Statements in ‘Inter Railway Financial Adjustment Rules’ or the actual revenue
taking informed decisions resulted in deficiency in realization, which might vary every year. Further, the amount
disclosure requirements. booked under Note 12.1 does not specify the amount received
and the amount estimated by MCRL. Non-disclosure of material
6
H34.44 crore of SECL, H11.12 crore of CCL H11.88 crore of facts as above results in contravention of the provisions of
MCL, and H40.59 crore of WCL Paragraph 110 of Ind AS 115. Incidentally, Chhattisgarh East
Railway Limited (CERL), a subsidiary of South Eastern Coalfields
194 195
Sl. Sl.
Corporate Overview
No. No.
Limited (SECL) recognizes revenue apportionment from Railways further addition (Policy 2.24) of Ratio Variance Reserve and Further the depreciation/amortisation of property, plant,
based on an established mechanism (customized access to emphasized creation of only Stripping Activity Assets (Policy and equipment and intangible assets are covered by
Freight Operations Information Systems) instead of relying 2.20). By virtue of this change in accounting policy, Stripping different policies.
on self-judgment and estimates, which also reveals diverse Activity Asset is being consistently featured under Property, Accounting policies of other Indian and international
accounting practices followed by CIL subsidiaries. Plant, and Equipment (Note 3.1) w.e.f. 01.04.2022 onwards mining companies are Also similarly disclosed.
Thus, disclosure on Material Accounting Policy No. 2.4 read with retrospective effect of change, instead of the existing
Moreover, the disclosures in this respect have been made
with Note 12.1 was deficient to that extent. policy of adjusting the figure of such asset with ratio variance
in material accounting policy 2.20 and 16(8) of additional
as and when the situation arose that was followed till 2022-
7
H3.31 Crore in December 2023, H1.87 crore in February 2024, notes to the consolidated financial statements for the year
23. The sentence ‘The stripping activity asset is amortized over
Statutory Reports
and H2.08 crore in March 2024. ended 31st March, 2024.
the life of the mine’ was also inserted by virtue of the above
8
Considered as the sole factor for determination of revenue change in accounting policy.
under Revenue Sharing Model circulated by MoR, Railway Generally, amortization is given effect to on three account
Board dated 10/12/2012. heads, viz. Leasehold Land, Intangibles, and Stripping Activity
Asset. Unlike Leasehold Land and Intangibles where the
9
Based on EAC, ICAI’s opinion, Railway Corridor is treated amortization for the related asset is charged in the same year.
as Intangible Asset. Paragraph 16 stated that the Company’s CIL chose to amortize Stripping Activity Asset in the following
cash flows are dependent on the usage of the system and the year on the plea that the benefits to be accrued from advance
grantor neither contractually guarantees to pay the operator stripping would only be realized from the succeeding year
(the Company), specified or determinable amounts nor any onwards. However, this deviation adopted by the Company
shortfall between amounts received from users of public from the usual application of amortization was not disclosed in
service and specified or determinable amount and therefore, the Material Accounting Policy. Further, the said policy was also
the Company does not have unconditional right to receive silent on the fact whether the Stripping Activity Asset would be
cash or other financial asset. amortized over the ‘entire’ life of the mine or the ‘balance’ life
B.5 Material Accounting Policies (Note 2) The existing material accounting policy on intangible assets of the mine.
Intangible Assets and Amortization (Note 2.12) is consistently being disclosed since implementation of However, this deviation adopted by the Company from the
Paragraph 118 of Ind AS 38 on Intangible Assets states that an Ind AS. There has not been any change in the consistently usual application of amortization was not disclosed in the
entity shall disclose the following for each class of intangible followed policy on intangible assets during the year. Material Accounting Policy. Further, the said policy was also
assets, distinguishing between internally generated intangible However, based on the observation, necessary additional silent on the fact whether the Stripping Activity Asset would
assets and other intangible assets, viz. (a) whether the useful disclosure suggested in the observation will be made in be amortized over the ‘entire’ life of the mine or the ‘balance’
lives are indefinite or finite and if finite, the useful lives or the financial statement from the FY 2024-25 onwards. life of the mine.
amortisation rates used; and (b) the amortization methods Paragraph 29 of Ind AS 8: Accounting Policies, Changes in
used, for intangible assets with finite useful lives. Accounting Estimates and Errors states that when a voluntary
Coal India Limited (CIL) disclosed gross value of H3161.73 crore change in accounting policy has an effect on the current period
(net carrying amount of H2718.21 crore) of computer software, or any prior period, an entity shall disclose (a) the nature of
intangible exploratory assets, rail corridor, and misc. others the change in accounting policy: (b) the reasons why applying
under Note 3.4: Intangible Assets. CIL, however, did not comply the new accounting policy provides reliable and more relevant
with the disclosure requirements of Ind AS 38 as mentioned information. Further, Paragraph 121 of Ind AS 1: Presentation
supra either in their Material Accounting Policies or by way of an of Financial Statements states that an accounting policy may
explanatory note under Note 3.4: Intangible Assets. be significant because of the nature of the entity’s operations.
Thus, disclosure on Material Accounting Policy No.2.12 Stripping activity being an integral part of the operations
read with Note 3.4 on Intangible Assets and Amortization of a coal mine, disclosure about the basis and method of
was deficient to that extent. amortization on Stripping Activity Asset alongwith reasons
thereto was necessary to cater to the requirements of the
B.6 Material Accounting Policies (Note 2) Para 15 of the appendix B of Ind AS 16 property, plant and users of consolidated financial statements in taking informed
Stripping Activity (Note 2.20) equipment the stripping activity asset shall be depreciated decisions which, incidentally, was absent in the policy
Material Accounting Policy on Stripping Activity of Coal India or amortised on a systematic basis, over the expected statement.
Limited (CIL), inter alia, mentioned that when the actual volume useful life of the identified component of the ore body Thus, disclosure on Material Accounting Policy No.2.20 on
of overburden removed is greater than the expected volume of that becomes more accessible as a result of the stripping Stripping Activity was deficient to that extent.
overburden removal, the stripping cost for excess overburden activity.
removed over the expected overburden removal is capitalized The accounting policy of the company states that the
to the stripping activity asset. The stripping activity asset is stripping activity asset is amortized over the life of the mine.
amortized over the life of the mine.
It is implied that the Stripping activity asset will be amortised
Pursuant to change in its Accounting Policy concerning
over the expected useful life of the identified component
Stripping Activity, CIL, through Uniform Process Notes,
of the ore body that becomes more accessible as a result
instructed all its Subsidiaries to systematically reverse
of the stripping activity.
the balance of Ratio Variance Reserve. It also restricted
196 197
Sl.
Corporate Overview
Sl. No.
No. B.9 Consolidated Balance Sheet A guidance on accounting of acquisition of land from
B.7 Additional Notes to the Consolidated Financial Based on the initial compensation calculated by the Claim Assets Project displaced Families were taken from Ray & Ray
Statements (Note-16) Commission, MCL deposited H637.09 crores for Tumulia Non-Current Assets chartered accountants, which was based on the opinion of
Contingent Liabilities and H495.06 crores for Jhupurunga into the designated Property, Plant and Equipment (Note 3.1) EAC of ICAI on the same issue.
Others — Miscellaneous — Land & others:J 5818.03 crore State Government account. The claim commission later Paragraph 16 of Ind AS 37 on Provisions, Contingent Liabilities, The above opinion also coincides with the material
required additional compensation of H1433.95 crores and Contingent Assets states that in almost all cases it will be clear accounting policies followed by the group.
This does not include differential compensation amount of under the RFCTLARR Act, 2013. whether a past event has given rise to a present obligation. In
However, considering the audit observation, endeavours
H1282.86 crore10 awarded by Hon’ble Claims Commission rare cases, it may be disputed either whether certain events have
Upon review, it was found that the Claim Commission had will be taken to ensure that diverse practices may not be
against Mahanadi Coalfields Limited (MCL) under Rehabilitation occurred or whether those events result in a present obligation.
Statutory Reports
erroneously doubled the solatium and interest factors. followed within CIL group on the matter from FY 2024-25.
and Resettlement Act, 2013 (R&R) for the villagers of Tumulia In such a case, an entity determines whether a present obligation
MCL recalculated the compensation correctly, determining
and Jhupurunga under Basundhara Area. MCL did not exists at the end of the reporting period by taking account of all
H813.03 crores for Tumulia and H711.63 crores for
agree with the final compensation arrived and approached available evidence, including the opinion of experts.
Jhupurunga.
Hon’ble Supreme Court for revisiting the final compensation Paragraph 118 of Ind AS 1 on Presentation of Financial Statements
rolls. Hon’ble Supreme Court, however, vide order dated 10 Due to the discrepancy, MCL approached the Supreme states that it is important for an entity to inform users of the
October 2023 directed MCL to approach Hon’ble High Court Court, which directed the differential amount, based on measurement basis or bases used in the financial statements
before whom the matter is presently sub judice. MCL’s calculation, to be deposited in an interest-bearing
because the basis on which an entity prepares the financial
A reference is invited to Paragraph 10 of Ind AS 37 on Provisions, account. Subsequently, the Supreme Court instructed statements significantly affects users’ analysis.
Contingent Liabilities, and Contingent Assets which states that MCL to approach the High Court of Odisha and transfer Coal India Limited (CIL) obtained (2021) an expert opinion from
a contingent liability is a possible obligation that arises from the funds accordingly. In compliance with these directives,
their statutory auditors (M/s Ray & Ray), wherein it was opined
past events and whose existence will be confirmed only by the MCL has transferred a total of H153.71 crore (comprising that in respect of estimate amount payable to the PDF, a provision
occurrence or non-occurrence of one or more uncertain future H151.09 crore and accrued interest of H2.62 crore) to the should be recognized based on best estimate of the expenditure
events not wholly within the control of the entity. High Court of Odisha.
require to settle the obligation on the date of acquisition of land
This resulted in understatement of Contingent Liabilities In the extant case management expects remote possibility from such PDF irrespective of fulfilment of various conditions.
by H 1282.86 crore. of outflow. CIL subsidiaries acquire land under the Coal Bearing Act (CBA)
1957 through a Government Notification and after obtaining
10
Hon’ble Claims Commission awarded an additional approval of competent authority. paid compensation in respect of
compensation amount of H1433.95 crore against which MCL the above notified land, to the affected parties/families. However,
worked out their liability at H151.09 crore and deposited this Northern Coalfields Limited (NCL), Central Coalfields Limited
amount (along with interest) before the High Court of Odisha (CCL), and Western Coalfields Limited (WCL) were accounting
B.8 Additional Notes to the Consolidated Financial The commitment is reported in financial statements based for the compensation on actual payment basis against the total
Statements (Note 16) Other Commitments on the report generated in SAP. sanctioned amount.
(Item-1.b): J 178885.39 crore The inadvertent omission of other commitment from These three subsidiaries released H4183.43 crore14 towards land
disclosures in the Financial Statement of the subsidiary compensation against sanctioned amount of H4667.60 crore15
The above does not include H1104.95 crore towards amount
will be rectified in the financial statements of FY 2024- as on 31 March 2024. Notification under CBA (A&D) Act, 1957
remaining to be executed on revenue account and not
25. The omitted other commitment of H1,104.95 crores is for acquisition of total land area had already been issued, and
provided for in respect of different contractual works awarded
immaterial considering the reported other commitment of approval for payment of final compensation was also given by
by Haldibari UG mine of Hasdeo Area11 and Amgaon OCP of
H 178,885.39 crore at the group level. Board of Directors of these subsidiaries. The balance payable
Bisrampur Area12 of South Eastern Coalfields Limited (SECL).
amount of H484.17 crore16 in respect of remaining land area was
However, the above includes H 105.30 crore towards Purchase Considering the immateriality of the omitted disclosure in
neither accounted for nor disclosed in the financial statements in
Orders displayed in the SAP-ERP software of Coal India Limited the consolidated financial statements, Comment of C&AG
deviation of the provisions of IND AS 01 and 37 on the plea that
(CIL), contracts / works in respect of which were non-existent as does not hold significance at the group level.
land could be capitalized as an asset only after the completion of
on 31 March 2024. However, endeavours will be taken to ensure that
`acquisition process’.
Paragraph 114 (d) of Ind AS-1 on Presentation of Financial commitments are reported appropriately in the future.
Incidentally, Mahanadi Coalfields Limited (MCL) vide Note 3.1.1
Statements states that an entity shall disclose, inter alia, other
was accounting for the compensation on the basis of notification
disclosure including unrecognized contractual commitments.
transferring the ownership of land for which reliable estimate /
This resulted in understatement of Other Commitments by
compensation roll had been determined and the capitalisation
H 999.65 crore13.
was to be adjusted after the sanctioned order. Further, land
Hiring of continuous miner in 10B (top) and 4A (bottom)
11 acquired under Land Acquisition Act. 1894 and Orissa
seams for winning coal without blasting awarded to M/s. TMC Government Land Settlement Act, 1962 has been capitalized
consortium vide LOA dated 10/10/2023 for H437.19 Crore. on the basis of possession certified by State Authorities. South
Eastern Coalfields Limited (SECL), also. vide Note 16.B.4.D
12
Hiring of HEMM for OB removal and extraction of coal
recognized the liability towards the payment due against the
awarded to M/s. Ashirbad Real Estate and Transport Private
Land Compensation including Asset Compensation and R&R
Limited vide LOA dated 09/02/2024 for H667.76 crore.
monetary benefits immediately after sanction was accorded by
13
H1104.95 crore minus H 105.30 crore
198 199
Sl. Annexure 3 (A)
Corporate Overview
No.
the competent authority, and accordingly capitalized an AUDITORS REPORT ON THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2024
amount of H 864.50 crore during the year 2023-24. INCLUDING REPORT ON THE INTERNAL FINANCIAL CONTROLS UNDER CLAUSE (i) OF SUB-SECTION 3 OF SECTION 143
Despite having the opinion. CIL and its subsidiaries have OF THE COMPANIES ACT, 2013 (“THE ACT”)
neither framed any uniform accounting policy nor made any
uniform disclosure as to what constitute “Acquisition of Land”
and when to carry out capitalization of Land and to create INDEPENDENT AUDITORS’ REPORT
liability for payment of compensation. Consequently, diverse
approaches have been adopted among the subsidiaries for To The Members of Coal India Limited
accounting the recognition of liability and accounting of land
Statutory Reports
in the financial statements. Thus, there were inconsistencies in Report on the Audit of the Standalone Financial
respect of the above among the subsidiaries. Statements
Thus, the accounting policy as well as disclosure in Statements under the provisions of the Companies Act, 2013
Opinion
respect of accounting treatment of obligation towards and the Rules thereunder and we have fulfilled our other
compensation was deficient to the above extent. We have audited the accompanying Standalone Financial ethical responsibilities in accordance with these requirements
Statements of Coal India Limited (“the Company”), which and the Code of Ethics. We believe that the audit evidence we
NCL (Jayant, Block B, and Dudhichua Projects) H843.27
14
comprise the Balance Sheet as at March 31, 2024, the Statement have obtained is sufficient and appropriate to provide a basis
crore CCL H 2634.82 crore, and WCL ( Wani and Ballarpur of Profit and Loss (including Other Comprehensive Income), for our opinion.
Areas) H 705.34 crore the Statement of Changes in Equity and the Statement of Cash
NCL H1202.41 crore,
15
CCL H2724.78 crore and Flows for the year then ended and notes to the Standalone
WCL H740.41 crore Financial Statements, including a summary of significant Emphasis of Matter
16
NCL H359.14 crore, CCL H89.96 crore, and WCL H35.07 crore accounting policies and Other Explanatory Notes for the year We draw attention to the following notes / matters to the
ended on that date (hereinafter referred to as the “Standalone Standalone Financial Statements:
Financial Statements”).
i) Note 6.2, regarding carrying forward of input tax credit on
In our opinion and to the best of our information and according Goods & Services Tax (GST) paid on input materials/services
to the explanations given to us, the aforesaid Standalone available for utilization against GST on output. GST liability on
Financial Statements give the information required by the coal is 5% whereas the inputs are being taxed at 18% and GST
Companies Act, 2013 (the “Act”) in the manner so required Input tax credit getting accumulated amounting to H 78.75
and give a true and fair view in conformity with the Indian crore and outstanding as at March 31, 2024 (March 31, 2023:
Accounting Standards prescribed under section 133 of the Act H 76.81 crore) largely relate to such inverted duty structure.
read with the Companies (Indian Accounting Standards) Rules, The amount is not refundable in terms of notification issued
2015, as amended from time to time, (“Ind AS”) and other in this respect and is therefore available only for utilization
accounting principles generally accepted in India, of the state against duty on output. Consequential adjustments and
of affairs of the Company as at March 31, 2024, and its profit impact thereof pending determination of amount as such
and Other Comprehensive Income, Changes in Equity and its cannot be commented upon by us.
Cash Flows for the year ended on that date.
Our opinion is not modified in respect of the above matter.
Basis for Opinion
We conducted our audit in accordance with the Standards Key Audit Matters
on Auditing (SAs) specified under section 143(10) of the
Key audit matters are those matters that, in our professional
Companies Act, 2013. Our responsibilities under those
judgment, were of most significance in our audit of the
Standards are further described in the Auditors’ Responsibilities
Standalone Financial Statements of the current year. These
for the Audit of the Standalone Financial Statements section of
matters have been addressed in the context of our audit of the
our report. We are independent of the Company in accordance
Standalone Financial Statements as a whole, and in forming our
with the Code of Ethics issued by the Institute of Chartered
opinion thereon, we do not provide a separate opinion on these
Accountants of India together with the ethical requirements
matters. We have determined the matters described below to
that are relevant to our audit of the Standalone Financial
be the Key Audit Matters for incorporation in our Report:
Key Audit Matters Addressing the Key Audit Matters

Evaluation of provisions and Contingent Liabilities: Our Audit procedures based on which we arrived at the
There are a number of litigations including direct and indirect conclusion regarding reasonableness of disclosure of
taxes, various claims, etc. pending before various forums contingent liability and recognition of provisions includes the
against the Company and the management’s judgement is following:
required for estimating the amount to be provided and/or We have obtained an understanding of the Company’s
disclosed as contingent liability. internal instructions and procedures in respect of estimation,
assessment and disclosure of contingent liabilities;
200 201
We identified this as a key audit matter because the estimates Understood and tested the design and operating Information Other than the Standalone Financial accounting unless management either intends to liquidate
Corporate Overview
and assessment with respect to these involve a significant effectiveness of controls as established by the management Statements and Auditors’ Report Thereon the Company or to cease operations, or has no realistic
degree of management’s judgement, interpretations, and may for obtaining all relevant information for pending alternative but to do so.
The Company’s Board of Directors is responsible for the other
therefore require adequate attention to arrive at the required litigation cases; information. The other information comprises the information Those Board of Directors are also responsible for overseeing
conclusion. included in the Annual Report, but does not include the
Discussed with the management regarding any material the Company’s financial reporting process.
developments and current status of matters pending Standalone Financial Statements and our auditors’ report
(Refer Note 16.1(a) to the Standalone Financial Statements, read as on 31.03.2024; thereon. The other information as stated above is expected to
be made available to us after the date of this auditors’ report. Auditors’ Responsibilities for the Audit of the
with the material Accounting Policy No. 2.21)
Read various correspondences and related documents Standalone Financial Statements
pertaining to pending legal cases and relevant external Our opinion on the Standalone Financial Statements does not Our objectives are to obtain reasonable assurance about
legal opinions obtained by the management and performed cover the other information and we do not express any form of whether the Standalone Financial Statements as a whole
substantive procedures on estimation supporting the assurance conclusion thereon.
Statutory Reports
are free from material misstatement, whether due to fraud
disclosure of contingent liabilities; or error, and to issue an auditors’ report that includes our
In connection with our audit of the Standalone Financial
Examined management’s judgements and assessments opinion. Reasonable assurance is a high level of assurance,
Statements, our responsibility is to read the other information
with respect to the provisions if any required for but is not a guarantee that an audit conducted in accordance
identified above when it becomes available, and, in doing
any such matter; with SAs will always detect a material misstatement when it
so, consider whether the other information is materially
exists. Misstatements can arise from fraud or error and are
Reviewed the management’s assessments of those inconsistent with the Standalone Financial Statements, or
considered material if, individually or in the aggregate, they
matters which have not been provided for or disclosed as our knowledge obtained during the course of our audit or
could reasonably be expected to influence the economic
contingent liability since the probability of material outflow otherwise appears to be materially misstated.
decisions of users taken on the basis of these Standalone
has been considered to be remote;
When we read the other information as stated above and if Financial Statements.
Reviewed the adequacy and completeness of disclosures; we conclude that there is a material misstatement therein, we
As part of an audit in accordance with SAs, we exercise
are required to communicate the matter to those charged with
Based on the above procedures performed, the estimation of professional judgment and maintain professional skepticism
governance and describe necessary actions required as per
provision and disclosures for contingent liabilities have been throughout the audit. We also:
applicable laws and regulations.
considered to be adequate and reasonable.
Impairment of investment in subsidiary: Our Audit procedures based on which we arrived at the Identify and assess the risks of material misstatement
Responsibilities of the Management and Those of the Standalone Financial Statements, whether due
As at March 31, 2024, the Company held investments with a conclusion regarding reasonableness of non recognition of
Impairment includes the following: Charged with Governance for the Standalone to fraud or error, design and perform audit procedures
carrying amount of H 4,269.42 crore in Eastern Coalfields Limited
Pursuant to the outcome of the measures taken, the Financial Statements responsive to those risks, and obtain audit evidence that
(ECL) wholly owned subsidiary. This investment is carried at cost
performance of the subsidiary company after coming out is sufficient and appropriate to provide a basis for our
in the Company’s standalone financial statements. Consequent The Company’s Board of Directors is responsible for the
of Board for Industrial and Financial Reconstruction (BIFR) opinion. The risk of not detecting a material misstatement
to accumulation of losses reported by the subsidiary in earlier matters stated in section 134(5) of the Companies Act, 2013
have improved significantly. There had been a consistent resulting from fraud is higher than for one resulting from
years, net worth of this company has been eroded to that extent. (“the Act”) with respect to the preparation of these Standalone
trend of positive performance and gradual decrease error, as fraud may involve collusion, forgery, intentional
This is investment in wholly owned subsidiary and is long term Financial Statements that give a true and fair view of the state of
in accumulated losses of the subsidiary company. The omissions, misrepresentations, or the override of
and strategic in nature and as such no impairment in value affairs (financial position), Profit or Loss (financial performance
accumulated losses of ECL have significantly decreased internal control;
thereof has been recognised by the management. to H 1,291.78 crore as on 31.03.2024 from H 2,716.00 crore including other comprehensive income), changes in equity and
We considered this as a key audit matter since the amount as on 31.03.2015; cash flows of the Company in accordance with the accounting Obtain an understanding of internal financial control
of investment is material and value of investment if eroded principles generally accepted in India, including the Indian relevant to the audit in order to design audit procedures
Sensitivity analysis and evaluation considering accounting Standards specified under section 133 of the Act
and lost need to be ascertained and given effect to in the that are appropriate in the circumstances. Under
foreseeable change in assumption could lead to read with relevant rules, as amended.
financial statements in terms of Indian Accounting Standard 36 section 143(3)(i) of the Act, we are also responsible for
impairment and the impact thereof on the financial
“Impairment of Assets”. statements; expressing our opinion on whether the Company has
This responsibility also includes maintenance of adequate
(Refer to Note 4.1.3 to the Standalone Financial Statements.) adequate internal financial controls system in place and
accounting records in accordance with the provisions of the
Further, in most recent time there has not been any the operating effectiveness of such controls;
Act for safeguarding of the assets of the Company and for
significant events that have occurred or circumstances
that have changed, and therefore the likelihood that the preventing and detecting frauds and other irregularities; Evaluate the appropriateness of accounting policies used
carrying amount of these companies would be less than selection and application of appropriate accounting policies; and the reasonableness of accounting estimates and
current is remote; making judgments and estimates that are reasonable and related disclosures made by the management;
prudent; and design, implementation and maintenance of
Broadly reviewed the future performance, prospects for adequate internal financial controls, that were operating Conclude on the appropriateness of management’s use
consistency based on our understanding of the internal effectively for ensuring the accuracy and completeness of of the going concern basis of accounting and, based
and external factors largely placing the reliance on
the accounting records, relevant to the preparation and on the audit evidence obtained, whether a material
management’s assumption with respect to the future
presentation of the Standalone Financial Statements that give uncertainty exists related to events or conditions that
prospects , expansion of current capacity and expected
a true and fair view and are free from material misstatement, may cast significant doubt on the Company’s ability
volume of business and sustainability of the profit;
whether due to fraud or error. to continue as a going concern. If we conclude that
We have evaluated the adequacy of the disclosures made a material uncertainty exists, we are required to draw
in the Standalone financial statement; In preparing the Standalone Financial Statements, management attention in our auditors’ report to the related disclosures
is responsible for assessing the Company’s ability to continue in the Standalone Financial Statements or, if such
as a going concern, disclosing, as applicable, matters related disclosures are inadequate, to modify our opinion. Our
to going concern and using the going concern basis of conclusions are based on the audit evidence obtained
202 203
up to the date of our auditors’ report. However, future Report on Other Legal and Regulatory 2021, in our opinion and to the best of our information (iii) Based on such audit procedures as have been
Corporate Overview
events or conditions may cause the Company to cease to Requirements and according to the explanations given to us: considered reasonable and appropriate in
continue as a going concern; and the circumstances, nothing has come to our
1. As required by the Companies (Auditors’ Report) Order, a) The Company has disclosed the impact of pending notice that has caused us to believe that the
Evaluate the overall presentation, structure and content 2020 (“the Order”), issued by the Central Government of litigations on its financial position in its standalone representations under sub-clause (i) and (ii)
of the Standalone Financial Statements, including the India in terms of sub-section (11) of section 143 of the financial statements – Refer note 16.1(a) of the of Rule 11(e), as provided under (a) and (b)
disclosures, and whether the Standalone Financial Companies Act, 2013, we give in the “Annexure – A”, a Standalone Financial Statements; above, contain any material misstatement.
Statements represent the underlying transactions and statement on the matters specified in paragraphs 3 and 4
events in a manner that achieves fair presentation. of the Order, to the extent applicable; b) The Company did not have any material foreseeable 5) Dividends declared or paid during the year by the
losses against long-term contracts, including Company are in compliance with Section 123 of the Act;
We communicate with those charged with governance 2. As required under Section 143 (5) of the Companies derivative contracts and thereby requirement for
regarding, among other matters, the planned scope and Act, 2013, we give in the “Annexure – B”, a statement making provision in this respect is not applicable 6) Based on our examination, which included test checks, the
on the Directions issued by the Comptroller and Auditor
Statutory Reports
timing of the audit and significant audit findings, including to the company; Company has used accounting software's for maintaining
any significant deficiencies in internal control that we identify General of India after complying with their suggested its books of account for the financial year ended March
during our audit. methodology of audit, the action taken thereon and its c) There has been no delay in transferring amounts, 31, 2024 which has a feature of recording audit trail
impact on the accounts and the Standalone Financial required to be transferred, to the Investor Education (edit log) facility and the same has been in operation
We also provide those charged with governance with a Statements of the Company; and Protection Fund by the company during the year; throughout the year for all relevant transactions recorded
statement that we have complied with relevant ethical in the software's. Further, during the course of our audit
requirements regarding independence, and to communicate 3. Further to our comments in the annexure referred to in d) (i) The Management has represented that, to the
we did not come across any instance of the audit trail
with them all relationships and other matters that may the paragraph above, as required by Section 143(3) of best of its knowledge and belief as disclosed
feature being tampered with;
reasonably be thought to bear on our independence, and the Act, we report that: in Note 16(6)(l) to the standalone financial
where applicable, related safeguards. statements, no funds have been advanced As proviso to Rule 3(1) of the Companies (Accounts)
a) We have sought and obtained all the information and
or loaned or invested (either from borrowed Rules, 2014 is applicable from April 1, 2023, reporting
From the matters communicated with those charged with explanations which to the best of our knowledge and funds or securities premium or any other under Rule 11(g) of the Companies (Audit and Auditors)
governance, we determine those matters that were of most belief were necessary for the purposes of our audit; sources or kind of funds) by the Company to or Rules, 2014 on preservation of audit trail as per the
significance in the audit of the Standalone Financial Statements in any other person(s) or entity(ies), including statutory requirements for retention of the record is not
b) In our opinion, proper books of account as required
of the current period and are therefore the key audit matters. foreign entities (“Intermediaries”), with the applicable for the financial year ended March 31, 2024;
by law have been kept by the Company so far as it
We describe these matters in our auditors’ report unless law understanding, whether recorded in writing
appears from our examination of those books;
or regulation precludes public disclosure about the matter or otherwise, that the Intermediary shall, 7) As per notification number G.S.R. 463 (E) dated 5th June,
or when, in extremely rare circumstances, we determine that c) The Balance Sheet, the Statement of Profit and directly or indirectly lend or invest in other 2015 issued by the Ministry of Corporate Affairs, provisions
a matter should not be communicated in our report because Loss (including Other Comprehensive Income), persons or entities identified in any manner of section 197 of the Act as regards the managerial
the adverse consequences of doing so would reasonably Statement of Changes in Equity and Statement whatsoever by or on behalf of the Company remuneration are not applicable to the Company.
be expected to outweigh the public interest benefits of of Cash Flows dealt with by this Report are in “Ultimate Beneficiaries”) or provide any
such communication. agreement with the books of account; guarantee, security or the like on behalf of the
Ultimate Beneficiaries;
d) In our opinion, the aforesaid Standalone Financial
Other Matters (ii) The Management has represented, that, to the
Statements comply with the Indian Accounting
1. The Regulation 17(1) read with Schedule II of SEBI (Listing Standards specified under Section 133 of the best of its knowledge and belief as disclosed
Obligations and Disclosure Requirements) Regulations, Act, read with Rule 7 of the Companies (Indian in Note 16(6)(l) to the standalone financial
2015 dealing with mandatory requirement of an Accounting Standards) Rules, 2015, as amended statements, no funds have been received by
independent woman director is yet to be complied with from time to time; the Company from any person(s) or entity(ies),
by the Company for which penalty have been levied by including foreign entities (“Funding Parties”), For Lodha & Co LLP
Stock Exchanges from time to time .On request for waiver e) In terms of Notification no. G.S.R. 463 (E) dated with the understanding, whether recorded in Chartered Accountants
by the company, such penalties are at times waived and/or 05th June 2015 issued by the Ministry of Corporate writing or otherwise, that the Company shall, Firm's ICAI Registration Number: 301051E/E300284
considered for waiver by Stock Exchanges. Demand of H Affairs, provisions of Section 164(2) of the Act directly or indirectly, lend or invest in other
1.57 Crores (excluding H 0.10 Crores waived) outstanding regarding disqualifications of the Directors, are not persons or entities identified in any manner
as on 31.03.2024 in this respect has been considered as applicable as it is a Government Company; and whatsoever by or on behalf of the Funding R. P. Singh
Contingent Liability. Parties (“Ultimate Beneficiaries”) or provide any (Partner)
f) With respect to the adequacy of the internal financial
guarantee, security or the like on behalf of the Place: Kolkata Membership No. 052438
2. The determination of the transactions with MSME controls with reference to the Standalone Financial
Ultimate Beneficiaries; and Date: 2nd May, 2024 UDIN: 24052438BKFNDS4478
vendors and balances thereof, have been done Statements of the Company and the operating
based on the certificate received from the respective effectiveness of such controls, refer to our separate
parties and available from the system. In absence of Report in “Annexure C”. Our report expresses an
complete reconciliation in this respect, completeness unmodified opinion on the adequacy and operating
of the disclosures in respect of MSME vendors, liability effectiveness of the Company’s internal control with
for interest thereon as per MSME Act, Income Tax reference to the standalone financial statements.
computations as such need to be ascertained.
4) With respect to the other matters to be included in the
Our Opinion is not modified in respect of the Auditors’ Report in accordance with Rule 11 of the
matters stated above. Companies (Audit and Auditors) Amendment Rules,
204 205
Whether title
Corporate Overview
“ANNEXURE-A” TO THE AUDITORS’ REPORT OF EVEN DATE:
deed holder
is a promoter,
director or
Gross Property
Description of Title deed held in relative of Reason for not being held in the
The Statement referred to in paragraph 1 with the heading ‘Report on other legal and regulatory requirements’ of our Report of Carrying held since
Property the name of promoter/ name of the Company
even date to the members of Coal India Limited on the Standalone Financial Statements of the Company for the year ended 31st Value which date
director or
March 2024, we report that:
employee of
i) a) The Company has maintained proper records showing full particulars, including quantitative details and situation of promoter/
Property, Plant and Equipment and Intangible Assets; director
Residential Flat 0.03 Western No 01-04-1978 The title deed is held in the name
b) During the year, property, plant and equipment have been physically verified by the management according to a
Statutory Reports
at Pedder Road, Coalfields of subsidiary of the company and
regular program of verification which, in our opinion, is reasonable having regard to the size of the Company and the Mumbai Limited transfer of title is pending.
nature of its assets. According to the information and explanations given to us, no material discrepancies were noticed 32.45 Ha. 0.23 Title deeds are Not Available 04-01-1992 We understand that the Land is
on such verification; Freehold land not available situated in the State of Meghalaya
at Simsang which is under Six Schedule of
c) According to the information and explanations given to us and on the basis of our examination of the title deeds (Meghalaya) Indian Constitution, and Title
of all the immovable properties disclosed in the Standalone Financial Statements, the same are held in the name of Deed has not been issued in
the Company as on the Balance Sheet date except in the following cases where the title deeds are not in the name favour of North Eastern Coalfields.
of the Company: 5.60 Ha. freehold 0.03 Title deeds are Not Available 08-01-1994 We understand that the Land is
lands at Tura not available situated in the State of Meghalaya
Whether title
Dakopgre which is under Six Schedule of
deed holder
(Meghalaya) Indian Constitution, and Title
is a promoter,
Deed has not been issued in
director or
Gross Property favour of North Eastern Coalfields.
Description of Title deed held in relative of Reason for not being held in the 11.47 Ha.Tipong 0.01 Coal Mines No 09-01-1975 The said colliery is in the name
Carrying held since
Property the name of promoter/ name of the Company Colliery Authority Limited of Coal Mines Authority Limited
Value which date
director or (Tipongpani (former name of the Company).
employee of Natun Gaon) This has not been updated in
promoter/ the title deed. The land is under
director the possession of North Eastern
Govt Revenue Not Available Not Available 19-08-2023 The land is under the possession Coalfields, a unit of the Company.
Land Tirap 102.64 of Northern Coalfields, however 87.55 Ha. Tikak 75.93 Not Applicable Not Applicable 30-03-2022 The land is under the possession
Title Deed is yet to be received Extension OCP of Northern Eastern Coalfields,
from the Government. however Title Deed is yet to be
IICM Land Not Available Not Available 25-07-2012 Allotment Letter in respect of the received from the Government
0.42 said land has been given by the 10.97 Ha. * M/S Dilli Colliery No 11-03-1997 The land is under the possession
authorities in the name of Central freehold lands of North Eastern Coalfields, a unit
Mine Planning and Design at Dilli- Jeypore of the Company.
Institute Limited. Colliery
Dankuni Coal Details of Not Available 01-04-1994 Allotment Letter in respect of the 105.34 Ha. free * Assam Railways No Since 1973 Lands were acquired or came
Complex 3.75 Requisition and said property has been given by hold land at and Trading in the possession of the
Acquisition of the authorities. Margherita Town. Company Company by virtue of Coal Mines
Land received. Limited Nationalization Act, 1973.
(unable to 9.16 Ha. free * Assam Railways No Since 1973 Lands were acquired or came
identify). hold land at and Trading in possession of the Company
Scope Complex 8.59 Title Deeds not Not Available 01-12-2004 Buildings are promoted by Grant no.277(F) Company by virtue of Coal Mines
and Scope Minar available and 30- Standing Committee of Public NLR, Namdang. Limited Nationalization Act, 1973.
at New Delhi 09-1989 Enterprises (SCOPE) and CIL 15.95 Ha. free * Assam Railways No Since 1973 Lands were acquired or came
respectively has allotment letters as proof of hold land at and Trading in possession of the Company
ownership. W.L.Application Company by virtue of Coal Mines
Guest House at Title Deeds not Not Available 01-05-2019 Buildings are promoted by NBCC No.11 (part/ Limited Nationalization Act, 1973.
Kidwai Nagar, 13.80 available and CIL has allotment letter as north).
New Delhi proof of ownership. 17.27 Ha. free * Assam Railways No Since 1973 Lands were acquired or came
Office Building Title Deeds not Not Available 23-03-2021 Buildings are promoted by NBCC hold land at and Trading in possession of the Company
at Kidwai Nagar, 64.39 available and CIL has allotment letter as W.L.Application Company by virtue of Coal Mines
New Delhi proof of ownership. No.85/1923.24. Limited Nationalization Act, 1973.
206 207
Whether title Whether title
Corporate Overview
deed holder deed holder
is a promoter, is a promoter,
director or director or
Gross Property Gross Property
Description of Title deed held in relative of Reason for not being held in the Description of Title deed held in relative of Reason for not being held in the
Carrying held since Carrying held since
Property the name of promoter/ name of the Company Property the name of promoter/ name of the Company
Value which date Value which date
director or director or
employee of employee of
promoter/ promoter/
director director
3.61 Ha. free * Assam Railways No Since 1973 Lands were acquired or came 11.38 Ha. free * Assam Railways No Since 1973 Lands were acquired or came
Statutory Reports
hold land at and Trading in possession of the Company hold land at and Trading in possession by the Company
Grnat no.277(c) Company by virtue of Coal Mines Tipongpani ward. Company by virtue of Coal Mines
NLR, Namdang. Limited Nationalization Act, 1973. Limited Nationalization Act, 1973.
369.01 Ha. free * Assam Railways No Since 1973 Lands were acquired or came 10.24 Ha. free * Assam Railways No Since 1973 Lands were acquired or came
hold land at and Trading in possession of the Company hold land at and Trading in possession by the Company
Ledo-Tikak NLR Company by virtue of Coal Mines Namdang Company by virtue of Coal Mines
Grant No.2. Limited Nationalization Act, 1973. Special patta. Limited Nationalization Act, 1973.
4.43 Ha. free * Assam Railways No Since 1973 Lands were acquired or came 0.92 Ha. * Title deeds are Not Available Not We understand that the Land is
hold land at and Trading in possession of the Company freehold Lands not available Available situated in the State of Meghalaya
Namdang Bah Company by virtue of Coal Mines at Tura Office, which is under Six Schedule of
Bari. Limited Nationalization Act, 1973. Meghalaya Indian Constitution and Title
21.90 Ha. free * Assam Railways No Since 1973 Lands were acquired or came Deed has not been issued in
hold land at and Trading in possession of the Company favour of North Eastern Coalfields.
W.L.Application Company by virtue of Coal Mines Diversion of 43.25 Title deeds are Not Available Not 89.36 HA of Land have
No.20 of 1923- Limited Nationalization Act, 1973. 98.59 Ha. of not available Available been allotted to the North
24. Forest Land for Eastern Coalfields by the
2.10 Ha. free * Assam Railways No Since 1973 Lands were acquired or came Tikak State Government vide letter
hold land at and Trading in possession of the Company no ECF202385/2022/134
Tipongpani Company by virtue of Coal Mines dt 10.05.2022 and ECF No
station site. Limited Nationalization Act, 1973. 202389/2022/22 dated
58.64 Ha. free * Assam Railways No Since 1973 Lands were acquired or came 10.05.2022. However, title
hold land at No.1 and Trading in possession by the Company deed in the name of Coal India
Baragolai Gaon. Company by virtue of Coal Mines Limited has not yet been issued
Limited Nationalization Act, 1973. as payment has not made to the
3.85 Ha. free * Assam Railways No Since 1973 Lands were acquired or came State Government.
hold land at No.2 and Trading in possession by the Company
Baragolai Gaon. Company by virtue of Coal Mines *Separate and distinct gross carrying value is not available.
Limited Nationalization Act, 1973.
d) The company has not revalued any of its Property, Plant and Equipment and Intangible Assets during the year. Accordingly,
61.77 Ha. free * Assam Railways No Since 1973 Lands were acquired or came
reporting under paragraph 3 (i)(d) of the Order is not applicable to the Company; and
hold land at and Trading in possession by the Company
11 no Grant Company by virtue of Coal Mines e) According to the information and explanations given to us and as represented by the management, no proceedings have
Baragolai. Limited Nationalization Act, 1973. been initiated during the year or are pending against the Company as at March 31, 2024 for holding any benami property
11.12 Ha. free * Assam Railways No Since 1973 Lands were acquired or came under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder, as amended from time to
hold land at Ledo and Trading in possession by the Company time. Accordingly, reporting under paragraph 3 (i)(e) of the Order is not applicable to the Company.
Kol Para. Company by virtue of Coal Mines
Limited Nationalization Act, 1973. ii) a) The inventories of the Company have been physically verified by the management during the year at
7.89 Ha. free * Assam Railways No Since 1973 Lands were acquired or came reasonable intervals and in our opinion coverage and procedure of such verification by the management is
hold land at and Trading in possession by the Company appropriate having regard to the size of the Company and nature of its inventory. The discrepancies noticed
6 No. Grant Company by virtue of Coal Mines on physical verification of inventories were not more than 10% or more in aggregate for each class of inventory
Lekhapani. Limited Nationalization Act, 1973. and have been properly dealt with in th books of account; and
145.46 Ha. free * Assam Railways No Since 1973 Lands were acquired or came
b) The Company has been sanctioned working capital limit in excess of Rupees Five Crores in aggregate,
hold land at Ledo and Trading in possession by the Company
from banks on the basis of security of current assets. The Company has filed statements with such banks,
town. Company by virtue of Coal Mines
which are not in agreement with the books of accounts. Details in this respect are as follows:
Limited Nationalization Act, 1973.
Amount disclosed as Amount as per
13.85 Ha. free * Assam Railways No Since 1973 Lands were acquired or came Difference
Period Ended Name of Bank per statement books of Accounts
hold land at and Trading in possession by the Company ( in Crores)
( in Crores) ( in Crores)
Lekhapani Company by virtue of Coal Mines
June ,2023 SBI,BOB,BOI,CNB, 0.22 34.43 34.21
colliery line Limited Nationalization Act, 1973.
September,2023 PNB,UNION,HDFC, 0.21 22.89 22.68
(Nepali Gaon).
208 209
Amount disclosed as Amount as per of more than six months from the date they become payable. As informed to us, Employee’s State Insurance is not
Corporate Overview
Difference applicable to the Company;
Period Ended Name of Bank per statement books of Accounts
( in Crores)
( in Crores) ( in Crores) b) The details of statutory dues referred to in sub clause (vii) (a) above, which have not been deposited on account of any
December,2023 ICICI,AXIS, 0.24 45.84 45.60 dispute are as follows: (H in Crores)
March,2024 BOM,IB,KMBL,UCO Not filed till 2nd May 37.66 37.66
Gross Period to Forum Balance
2024 Amount
Amount which the where the amount
Name of the Statute Nature of Dues deposited under
iii) The Company has made investments in mutual fund and of existing loans or advances in the nature of loans Under amount dispute is not
protest
shares of Joint Ventures during the year. Other than this, given to the same parties; and dispute relates pending deposited
according to the information and explanations given to us 78.07 AY 2011-12 ITAT 20.00 58.07
and on the basis of our examination of the records of the f) According to the information and explanations
81.58 AY 2012-13 ITAT 0.00 81.58
Company, the Company has not made any investments, given to us and on the basis of our examination of 90.30 AY 2013-14 ITAT 0.00 90.30
Statutory Reports
granted any secured and unsecured loan, provided any the records of the Company, the Company has not 4.70 AY 2014-15 CIT (A) 0.00 4.70
granted any loans or advances in the nature of loans Income Tax Act Income Tax
guarantee or security or granted any advances in the 29.09 AY 2018-19 CIT (A) 29.09 0.00
nature of loans, secured or unsecured, to companies, either repayable on demand or without specifying (Adjusted from
firms, limited liability partnership or any other parties any terms or period of repayment. refund of
during the year. A.Y 2023-2024)
iv) In our opinion and according to the information and
Total 283.74 49.09 234.65
a) As stated above, the Company has not granted explanations given to us, the Company has complied with
Central Excise Act,1944 Central excise 4.45 FY 2010-11 CESTAT 0.17 4.28
any secured or unsecured loan or provided any the provisions of section 185 and 186 of the Act, in respect
to
guarantee or security or granted any advances in the of granting loans, making investments and providing FY 2014-15
nature of loans, secured or unsecured, to companies, guarantees and securities, as applicable.
viii) In our opinion and on the basis of information and b) No report under sub-section (12) of section 143 of
firms, limited liability partnership or any other explanations given to us and as represented by the the Act has been filed in Form ADT-4 as prescribed
v) According to the information and explanation given to us
parties during the year and hence reporting under management, we have neither come across nor have under Rule 13 of Companies (Audit and Auditors)
and based on our examination of the books and records
paragraph 3 (iii)(a) of the Order is not applicable; been informed of transactions which were previously Rules, 2014 (as amended from time to time) with the
of the Company, the Company has not accepted any
deposits or any amount deemed to be deposits from not recorded in books of account and that have been Central Government, during the year and up to the
b) In respect of investment made in Joint Venture during
public covered under Sections 73 to 76 or any other surrendered or disclosed as income during the year in date of this report; and
the year, same being long term strategic in nature,
relevant provisions of the Act and rules framed thereunder. the tax assessments under the Income Tax Act, 1961 and
terms and conditions thereof as such are prima facie c) According to the information and explanation given
Accordingly reporting under paragraph 3(v) of the Order accordingly reporting under paragraph 3 (viii) of the
not prejudicial to the Company’s interest ; to us and based on the examination of the books
is not applicable to the Company. Order is not applicable.
of accounts of the company, no whistle blower
c) According to the information and explanations
vi) We have broadly reviewed the books of account ix) In our opinion and on the basis of information and complaints have been received during the year
given to us and on the basis of our examination of
maintained by the Company pursuant to the Rules made explanations given to us by the management, the by the company. Accordingly, reporting under
the records of the Company, in respect of the loan
by the Central Government for the maintenance of cost Company has not taken any loan from Banks, Financial paragraph 3(xi)(c) of the Order is not applicable.
of H 1.87 Crore given to a body corporate in earlier
records under Section 148 (1) of the Act in respect of Institutions or any other lender and accordingly, clause 3
years, entire amount in absence of certainty as to the xii) In our opinion and according to the information and
the Company’s products to which the said rules are (ix) of the order is not applicable to the Company.
realisation has been considered by the management explanations given to us, the Company is not a Nidhi
not being recoverable and pending approval of made applicable and are of the opinion that prima
x) According to the information and explanations given to company and accordingly the Nidhi Rules, 2014 is not
write off etc. thereof has been fully provided for in facie, the prescribed records have been maintained. We
us and based on our examination of books of account applicable to it, hence reporting under paragraph 3(xii)
earlier years in the financial statements. In respect of have, however, not made a detailed examination of the
of the Company: (a, b and c) of the Order is not applicable to the Company.
advances in the nature of loans granted to employees, said records with a view to determine whether they are
the terms and conditions for repayment of principal accurate or complete. a) The Company has not raised monies by way of initial xiii) According to the information and explanations given to
and interest on such employee advances have been public offer or further public offer (including debt us and based on our examination of the records of the
vii) According to the information and explanations given
stipulated and repayment thereof have generally instruments) or term loans and hence reporting Company, transactions with the related parties are in
to us and based on our examination of the
been made regularly as per the stipulations; under paragraph 3(x)(a) of the Order is not applicable compliance with provisions of Section 177 and 188 of the
books of accounts:
to the Company; and Act wherever applicable and details of such transactions
d) According to the information and explanations have been disclosed in the Standalone Financial
a) During the year, the Company has generally been
given to us and on the basis of our examination of b) The Company has not made any preferential Statements as required in terms of the applicable Indian
regular in depositing with the appropriate authorities
the records of the Company, having regards to the allotment or private placement of shares or Accounting Standards.
undisputed statutory dues including Goods and
terms and conditions of the loans or advances in the convertible debentures (partly, fully, or optionally)
Service Tax, Provident Fund, Income Tax, Sales Tax,
nature of loan, there is no overdue amount for more during the year and accordingly, reporting under xiv) The Company has appointed a firm of Chartered
Service Tax, Duty of Custom, Duty of Excise, Value
than ninety days in respect of loans given including paragraph 3(x)(b) of the Order is not applicable Accountants to carry out the internal audit of the
Added Tax, Cess and any other statutory dues as
interest thereon excepting H 1.87 Crores receivable to the Company. Company. In our opinion and according to the information
applicable to it. According to the information and
from a body corporate which as dealt with in para and explanations given to us, the internal audit system is
explanations given to us, there is no undisputed xi) a) During the course of our examination of books and
(c ) above has been fully provided for ; commensurate with the size and nature of its business.
amounts payable in respect of these which were in records of the Company carried out in accordance We have considered, during the course of our audit, the
e) According to the information and explanations arrears as on March 31,2024 for the period of more with generally accepted auditing practices in India, reports of the internal auditor for the period under audit
given to us and on the basis of our examination of than six months from the date they become payable and according to the information and explanation issued to the Company during the year and till date in
the records of the Company, there was no loan or except H 0.16 Crore payable in respect of Goods and given to us, we have neither come across any instance determining the nature, timing and extent of our audit
advance in the nature of loans falling due during Service Tax related to the financial year 19-20 which of fraud by the Company or on the Company noticed procedures in accordance with the guidance provided in
the year, which has been renewed or extended or were in arrears as on March 31, 2024 for a period or reported during the year, nor have been informed SA 610 “Using the work of Internal Auditors”. However, in
fresh loans granted to settle the overdue amount of any such cases by the management; case of Mumbai Regional Sales office where the volume
210 211
of operations are not material, no internal audit report xix) According to the information and explanations given to us
Corporate Overview
has been made available to us. and based on the financial ratios (refer note 16.6(i) to the “ANNEXURE-B” TO THE INDEPENDENT AUDITORS’ REPORT
standalone financial statements), ageing and expected
xv) According to the information and explanations given to us (Referred to in Paragraph 2 of “Report on Other Legal and Regulatory requirements” section of our Audit Report)
dates of realization of financial assets and payment of
and as represented to us by the management and based financial liabilities, other information accompanying the
on our examination of the records of the Company, the standalone financial statements, our knowledge of the
Company has not entered into non-cash transactions with Part I - Directions
Board of Directors and management’s plans and based (H in Crores)
directors or persons connected with him. Accordingly, on our examination of the evidences supporting the
S.
paragraph 3(xv) of the Order is not applicable. assumptions, nothing has come to our attention, which Directions Auditors’ Reply on the action taken on the directions
No.
causes us to believe that any material uncertainty exists
xvi) a) Since the financial assets and the financial income of 1. Whether the Company has system in place to The Company has implemented a new ERP Software (SAP) with effect
as on the date of the audit report that Company is not
the company is more than 50% of the total assets and process all the accounting transactions through from April 01, 2021 in case of Head Office Kolkata, Delhi Office,
capable of meeting its liabilities existing at the date of
Statutory Reports
the gross income respectively of the company, the IT System? If yes, the implications of processing Mumbai and Chennai Regional Sales Office (RSO) and with effect from
balance sheet as and when they fall due within a period
company as it appears is required to be registered of accounting transactions outside IT system August 01, 2021 in case of North Eastern Coalfield. All the information
of one year from the balance sheet date. We, however,
under section 45-IA of the Reserve Bank of India on the integrity of the accounts along with the has been migrated from old accounting software Coalnet to SAP on
state that this is not an assurance as to the future viability
Act, 1934. However, as stated, necessary legal and financial implications, if any, may be stated. the implementation dates. Post implementation of SAP, accounting
of the Company. We further state that our reporting is
other clarification on the matter will be obtained in of all the transactions is being processed through the SAP except for
based on the facts up to the date of the audit report and
due course of time based on which required steps valuation of closing stock of coal at North Eastern Coalfield which
we neither give any guarantee nor any assurance that all
will be taken on the matter. Pending this, no such have been maintained manually.
liabilities falling due within a period of one year from the
registration has yet been obtained by the company;
balance sheet date, will get discharged by the Company Further, various ageing analysis which are required to be disclosed
b) As stated in para xvi (a) above, the operations as and when they fall due. in the financial statements have also been prepared manually by the
of the company have currently been conducted management
xx) According to the information and explanations given to
without a Certificate of Registration (CoR) from the As per information and explanations given to us, post completion
us and as represented to us by the management and
Reserve Bank of India as per the Reserve Bank of of stabilization phase on 31st March 2022, the system is under AMC
based on our examination of the records of the Company,
India Act, 1934; phase.
there was no unspent amount on account of Corporate
Further, no system audit and migration audit covering the implications
c) The Company fulfils the criteria specified for core Social Responsibility (CSR) on other than ongoing
of processing of such transactions has been conducted and any
investment company(CIC) as specified as per the projects envisaged under Section 135 of the Act and
consequential effect on the integrity of the accounts, along with
RBI Master Direction – Core Investment Companies ( hence, reporting under paragraph 3(xx)(a) and (b) of the
related financial implications, if any, are not ascertainable.
Reserve Bank) Directions, 2016. However, as stated in Order are not applicable to the Company.
2. Whether there is any restructuring of an existing As per the information and explanations given by the management,
para xvi (a) above, the necessary clarification on the
xxi) The reporting under paragraph 3(xxi) of the Order is loan or cases of waiver/write off of debts/loans/ there is no loan taken from any lender by the Company.
matter will be obtained and certificate of registration
not applicable in respect of audit of the Standalone interest etc. made by a lender to the company due
if required will accordingly be obtained; and
Financial Statements. to the company’s inability to repay the loan? If yes,
d) Except as given in para xvi (c) above , in our opinion the financial impact may be stated. Whether such
and as represented by the management, there is no cases are properly accounted for? (In case, lender
For Lodha & Co LLP is a Government company, then this direction is
CIC as part of the group.
Chartered Accountants also applicable for statutory auditor of Lender
xvii) Based on the examination of the books of accounts Firm’s ICAI Registration Number: 301051E/E300284 company).
we report that the Company has neither incurred cash 3. Whether funds (grants/subsidy etc.) received According to the information and explanations given to us and
losses in current financial year covered by our audit nor / receivable for specific schemes from Central on the basis of our examination of the records of the Company, no
has incurred cash losses in the immediately preceding / State Government or agencies were properly grants/funds were received for specific schemes from Central / State
financial year. accounted for / utilized as per its terms and Government or agencies during the year.
R. P. Singh conditions? List the cases of deviation. Grants of H 3.74 Crores received during the year in relation to assets
xviii) There has been no resignation of the statutory auditors of (Partner)
and revenues have been properly accounted for as per the accounting
the Company during the year and hence reporting under Place: Kolkata Membership No. 052438
policy followed in this respect.
paragraph 3(xviii) of the Order is not applicable. Date: 2nd May, 2024 UDIN: 24052438BKFNDS4478
212 213
Part II - Additional Directions:
Corporate Overview
(H in Crores) ANNEXURE “C” TO THE INDEPENDENT AUDITORS’ REPORT
S.
Sub-direction Auditors’ Reply on the action taken on the directions (Referred to in paragraph 3 (f) under ‘Report on Other Legal and Regulatory Requirements’ of our report of even date)
No.
1. Whether coal stock measurement was done According to the information and explanations given to us and on
based on Yellow Book? Whether physical stock the basis of our examination of the records of the Company, coal
measurement reports are accompanied by stock measurement in respective areas have been done based on
We have audited the internal financial controls with reference the assessment of the risks of material misstatement of the
contour map in all cases? Whether approval of Yellow Book. Physical stock measurement report of coal stock as on
to the Standalone Financial Statements of Coal India Limited Standalone financial statements, whether due to fraud or error.
the competent authority was obtained for new March 31, 2024 at North Eastern Coalfields has been accompanied
(hereinafter referred to as ‘the Company’) as of March 31,
heap, if any, created during the year. by contour maps. No new heaps were created in any of the mines of We believe that the audit evidence we have obtained is
2024 in conjunction with our audit of the Standalone Financial
North Eastern Coalfields during the financial year. sufficient and appropriate to provide a basis for our audit
Statements of the Company for the year ended on that date.
2. Whether the company has conducted physical As per the information and explanations given by the management,
Statutory Reports
opinion on the Company’s internal financial controls with
verification exercise of assets and properties there has been no such merger/split/restructure of any area during reference to the Standalone financial statements.
at the time of merger/ split/restructure of an the year. Management’s Responsibility for Internal
area. If so, whether the concerned subsidiary Financial Controls
followed the requisite procedure. Meaning of Internal Financial Controls with
The Company’s management is responsible for establishing
3. Whether separate Escrow Accounts for each Separate escrow account for each mine (Tikak extension, Lekhapani reference to the Standalone Financial Statements
and maintaining internal financial controls based on the
mine has been maintained in CIL and its OCP, Tipong, Ledo OCP, Tikak OCP and Tirap OCP) of North East internal control with reference to the financial statements A Company's internal financial control with reference to the
subsidiaries. Also examine the utilization of the Coalfields (NEC), the production unit of Coal India Limited, has been criteria established by the Company considering the essential Standalone Financial Statements is a process designed to
fund of the account. maintained. No such fund as explained by the management has been components of internal control stated in the Guidance provide reasonable assurance regarding the reliability of
withdrawn during the year. Note on Audit of Internal Financial Controls over Financial financial reporting and the preparation of Standalone Financial
4. Whether the impact of penalty for illegal mining According to the information and explanations given to us, no penalty Statements for external purposes in accordance with generally
Reporting (the ‘Guidance Note’) issued by the Institute of
as imposed by the Hon’ble Supreme Court/ for illegal mining has been imposed by the Hon’ble Supreme Court/ accepted accounting principles. A Company's internal financial
Chartered Accountants of India. These responsibilities include
National Green Tribunal/ State Pollution Control National Green Tribunal/ State Pollution Control Board during the year control with reference to the Standalone Financial Statements
the design, implementation and maintenance of adequate
Board has been duly considered and accounted on the Company. includes those policies and procedures that (1) pertain to the
internal financial controls that were operating effectively for
for? maintenance of records that, in reasonable detail, accurately
ensuring the orderly and efficient conduct of its business,
5. Whether any independent Assessment/ Certification No Independent Assessment/Certification in respect of migration and fairly reflect the transactions and dispositions of the
including adherence to Company’s policies, the safeguarding
in respect of migration process of data from Coalnet process of data from Coalnet portal to SAP has been carried out assets of the Company; (2) provide reasonable assurance that
of its assets, the prevention and detection of frauds and errors,
portal to SAP has been done. during the year. transactions are recorded as necessary to permit preparation
the accuracy and completeness of the accounting records,
and the timely preparation of reliable financial information, as of the Standalone Financial Statements in accordance with
required under the Act. generally accepted accounting principles, and that receipts
and expenditures of the Company are being made only in
accordance with authorisations of management and directors of
Auditors’ Responsibility the Company; and (3) provide reasonable assurance regarding
For Lodha & Co LLP
Chartered Accountants Our responsibility is to express an opinion on the Company's prevention or timely detection of unauthorised acquisition,
Firm’s ICAI Registration Number: 301051E/E300284 Internal Financial Controls with reference to the Standalone use, or disposition of the Company's assets that could have a
Financial Statements based on our audit. We conducted our material effect on the Standalone Financial Statements.
audit in accordance with the Guidance Note issued by the
Institute of Chartered Accountants of India and the Standards Inherent Limitations of Internal Financial Controls
R. P. Singh
on Auditing prescribed under Section 143(10) of the Act, with reference to the Standalone Financial
(Partner)
to the extent applicable to an audit of Internal Financial Statements
Place: Kolkata Membership No. 052438
Controls with reference to the Financial Statements. Those
Date: 2nd May, 2024 UDIN: 24052438BKFNDS4478 Because of the inherent limitations of internal financial
Standards and the Guidance Note require that we comply
with ethical requirements and plan and perform the audit to controls with reference to the financial statements, including
obtain reasonable assurance about whether adequate internal the possibility of collusion or improper management override
financial control with reference to the Standalone Financial of controls, material misstatements due to error or fraud may
Statements were established and maintained and if such occur and not be detected. Also, projections of any evaluation
controls operated effectively in all material respects. of the internal financial controls with reference to the financial
statements to future periods are subject to the risk that
Our audit involves performing procedures to obtain audit the internal financial control with reference to the financial
evidence about the adequacy of the internal financial controls statements may become inadequate because of changes in
with reference to the Standalone financial statements and conditions, or that the degree of compliance with the policies
their operating effectiveness. Our audit of internal financial or procedures may deteriorate.
controls with reference to the Standalone financial statements
included obtaining an understanding of such internal financial
Opinion
controls with reference to the Standalone financial statements,
assessing the risk that a material weakness exists, and testing According to the information and explanations given to us and
and evaluating the design and operating effectiveness of based on our audit, in our opinion, the Company has generally
internal control based on the assessed risk. The procedures maintained, in all material respects, adequate internal financial
selected depend on the auditors’ judgement, including controls with reference to the financial statements and such
214 215
internal financial controls with reference to the financial 3. Complete reconciliation in respect of the disclosures and Annexure 4
Corporate Overview
statements were generally operating effectively as of March ensuring completeness with respect to MSME vendors,
31, 2024 based on the internal control with reference to the liability for interest thereon as per MSME Act, Income tax
financial statements criteria established by the Company computations as such need to be ascertained. AUDITORS REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2024
considering the essential components of internal controls INCLUDING REPORT ON THE INTERNAL FINANCIAL CONTROLS UNDER CLAUSE (i) OF SUB-SECTION 3 OF SECTION 143
stated in the “Guidance Note on Audit of Internal Financial Our opinion is not modified in respect of the above OF THE COMPANIES ACT, 2013 (“THE ACT”)
Controls over Financial Reporting” issued by the Institute of matters.
Chartered Accountants of India.
INDEPENDENT AUDITORS’ REPORT
Other Matters
Improvements are required in respect of the following: To the Members of Coal India Limited
Statutory Reports
1. The documentation of Internal Financial Controls pertaining Report on the Audit of the Consolidated Financial by other auditors in terms of their reports referred to in the
to the risk assessment process, risk analysis of different Statements ‘Other Matters’ section below is sufficient and appropriate
functional areas and incorporating the process flows at to provide a basis for our audit opinion on the Consolidated
Opinion
departmental levels including risk mitigations; For Lodha & Co LLP Financial Statements.
Chartered Accountants We have audited the accompanying Consolidated Financial
2. Obtaining independent confirmations and consequential Statements of Coal India Limited (hereinafter referred to as the Emphasis of Matter
Firm’s ICAI Registration Number: 301051E/E300284
reconciliation with respect to certain debit/credit ‘Holding Company’), and its subsidiaries (Holding Company We draw attention to the following matters relevant to the
balances including trade receivables, other current R. P. Singh and its subsidiaries together referred to as “the Group”), Consolidated Financial Statements:
and non-current assets, trade payables, other financial (Partner) and its share of profit in Joint Ventures, which comprise
liabilities and other current and non-current liabilities as Place: Kolkata Membership No. 052438 the Consolidated Balance Sheet as at March 31, 2024, the a. Note 6.2, regarding carrying forward of input tax credit
stated in Note 16.6(g); and Date: 2nd May, 2024 UDIN: 24052438BKFNDS4478 Consolidated Statement of Profit and Loss (including other on Goods & Services Tax (GST) paid on input materials/
comprehensive income), the Consolidated Statement of services available for utilization against GST on output.
Changes in Equity and the Consolidated Cash Flow statement GST liability on coal is 5% whereas the inputs are being
for the year then ended and notes to the Consolidated Financial taxed at 18% and GST Input tax credit getting accumulated
Statements, including a summary of significant accounting amounting to H 14,282.91 crore and outstanding as
policies and other explanatory notes for the year ended at March 31, 2024 (March 31, 2023: H 11,589.85 crore)
on that date (hereinafter referred to as “the Consolidated largely relate to such inverted duty structure. The amount
Financial Statements”). is not refundable in terms of notification issued in this
respect and is therefore available only for utilization
In our opinion and to the best of our information and against duty on output. Consequential adjustments and
according to the explanations given to us and based on the impact thereof pending determination of amount as such
consideration of the reports of other auditors on separate cannot be commented upon by us;
Financial Statements of the Subsidiaries referred to in Other
Matters section below, the aforesaid Consolidated Financial b. Attention is invited to Note 2.20 dealing with the material
Statements give the information required by the Companies accounting policy currently being followed relating to
Act, 2013 (“the Act”) in the manner so required and give a the stripping activity cost following the direction by the
true and fair view in conformity with the Indian Accounting Accounting Standards Board of the Institute of Chartered
Standards prescribed under section 133 of the Act, read with Accountant of India received by the company during
the Companies (Indian Accounting Standards) Rules, 2015, as the year. As mentioned in the Note 16.8, the group has
amended from time to time, (“Ind AS”) and other accounting followed retrospectively Appendix B “Stripping Costs in
principles generally accepted in India, of the consolidated the Production phase of a surface mine” in terms of Ind
state of affairs of the Group including its Joint Ventures, as at AS 16 -Property, Plant and Equipment for the purpose of
March 31, 2024, of the consolidated profit, the consolidated such accounting. However, the stripping activity provision
changes in equity and its consolidated cash flows for the as stated in Note 9.1.2 created in earlier year has been
year then ended. adjusted with effect from 01.04.2022 in a systematic
manner over the years and no further provision in this
Basis for Opinion respect has been made on or after that date. Accordingly,
We conducted our audit in accordance with the Standards H 2,438.43 Crores (31.03.2023 H 2,137.40 Crores) has
on Auditing (SAs) specified under section 143(10) of the been reversed having the impact to that extent on the
Companies Act, 2013. Our responsibilities under those Statement of Profit and Loss Account of the respective
Standards are further described in the Auditors’ Responsibilities year leaving a balance of H 61,350.26 Crores as on
for the Audit of the Consolidated Financial Statements section 31.03.2024 (31.03.2023 H 63,788.69 Crores), which as
of our report. We are independent of the Group and it’s Joint stated will be credited to the statement of Profit and
Ventures in accordance with the Code of Ethics issued by the Loss account in the phased manner over the years. In the
Institute of Chartered Accountants of India (ICAI), and we have absence of any comment to the contrary in the financial
fulfilled our other ethical responsibilities in accordance with statements of the subsidiaries as well as in the auditors’
the provisions of the Companies Act, 2013. We believe that the report on these financial statements, reliance has been
audit evidence obtained by us and the audit evidence obtained placed by us in this respect on the audited financial
216 217
statements of the respective subsidiaries as audited by Standard on Auditing (SA 600) on ‘Using the work of Another Key Audit Matters Addressing the Key Audit Matters
Corporate Overview
their statutory auditors and the reported upon by them Auditor’, including materiality, below Key Audit Matters have
Ind AS 115 “Revenue from Contracts with Customers”: ur Audit procedures based on which we arrived at
O
for the purpose of the consolidated financial statements been reported based on the Independent Auditors’ report on the conclusion regarding reasonableness of Revenue
Revenue recognition and adjustments for coal quality variance
and our reporting on the same. the audit of the Standalone Financial Statements of Holding recognition includes the following:
involve critical estimates.
company and subsidiaries whose financial statements have ssessment of the application of the provisions of Ind AS
A
Our opinion is not modified in respect of these matters. The revenue recognized by the Group in a particular contract is
been audited. In cases of certain subsidiaries where their dependent on the sale agreement / allotment in e-auction for 115 in respect of the Group’s revenue recognition and
independent auditors have not incorporated any of the below the respective customer. appropriateness of the estimated adjustments in the process;
Key Audit Matters
mentioned Key Audit Matter paragraph in their independent Revenue from sale of coal is recognized at declared grade of btained and evaluated trend of past results prepared
O
Key audit matters are those matters that, in our professional auditors’ report, and have not qualified their opinion with coal. Subsequent adjustments are made to the transaction based on the outcome of test from mutually agreed quality
judgment, were of most significance in our audit of the respect to the mater covered herein below, it has been price due to grade mismatch/slippage of the transferred testing laboratory or Referee quality testing laboratory;
Consolidated Financial Statements of the current year. These assumed that all policies and required procedures have been coal. The variation in the contract price if not settled mutually btained and evaluated calculation and working of grade
O
matters have been addressed in the context of our audit of followed in respect of such paragraph and is in line with our between the parties to the contract is referred to third party slippage provision;
Statutory Reports
the Consolidated Financial Statements as a whole, and in testing and the Group estimates the adjustments required for valuated the controls in place for estimation, recognition
E
assumptions and judgements described below. We have revenue recognition pending settlement of such dispute. Such
forming our opinion thereon, we do not provide a separate and disclosure in the consolidated financial statements;
determined the matters described below to be the key audit adjustments in revenue are made on estimated basis following
opinion on these matters. Considering the requirement of matters for incorporation in our report. hecking of selected transactions on sample basis and
C
historical trend.
tested for identification of contracts involving disputes
The revenue recognition being a significant matter involving relating to grade mismatch/ slippage with respect to the
Key Audit Matters Addressing the Key Audit Matters material adjustment for Grade Slippage requiring judgements terms of the contract, evaluation of the satisfaction of
and estimates for past trend, etc., has been considered to be a performance obligation checking the adjustment to the
Stripping Activity Cost Our Audit procedures based on which we arrived at the
key audit matter. revenue due to variation in transaction price;
conclusion regarding reasonableness of accounting with respect
In case of opencast mining, the mine waste materials
to the stripping activities include the following: eviewed the agreement with the customers and invoices
R
(“overburden”) which consists of soil and rock on the top of coal
Obtained working data of stripping activity and test raised considering the terms and conditions thereof;
seam is required to be removed to get access to the coal and its
extraction. This waste removal activity is known as ‘Stripping’. In checked the total volume of generation therefrom and costs e have performed tests to establish the basis of estimation
W
opencast mines, the Group has to incur such expenses over the incurred for the same during the year for development and of the consideration and whether such estimates are
life of the mine (as technically estimated). Stripping is necessary production of coal; commensurate with the accounting policy of the Group;
to obtain access to coal and occurs throughout the life of an Reviewed the Adequacy of the disclosure as per Ind AS 115;
Performed analytical procedures and tested the
opencast mine. uality parameters and assessment require technical
Q
reasonableness of expenses considered during the
Stripping costs during the Development phase development and production stage; knowledge and therefore reliance have been placed on
technical findings and reports in this respect.
These are initial overburden removal costs incurred to obtain Reviewed the production profile and related overburden as Valuation of defined benefits obligation for employees: Our Audit procedures based on which we arrived at the
access to coal to be extracted. These costs are capitalised when submitted by the management to the authorities; Accounting for defined benefit plans is based on actuarial conclusion regarding reasonableness of Valuation of defined
it is probable that future economic benefits will flow to the Group
assumptions which require measuring the obligation, evaluating benefits obligation for employees includes the following:
and costs can be measured reliably. Once the production phase Analysed the volume of overburden removal vis-à-vis the
the plan assets and calculating the corresponding actuarial gain Evaluated the key assumptions applied (discount

begins, capitalised development stripping costs are amortised standards and parameters specified in case of each of the
or loss, all future cash flows discounted to present value for rates, inflation rate, mortality rate) as per the Guidance
over the mine life. mine so that to arrive at the amount of stripping assets
arriving at the obligation. Note applicable;
to be recognised for amortization over the life of the
Stripping costs during the Production phase Significant estimates including the discount rates, the inflation ssessed the competence, independence, and integrity of
A
respective mines;
Stripping costs during the production phase can give rise to rates and expected escalation of salary, awards and revisions the Group’s actuarial expert;
two benefits, the extraction of coal in the current period and Reliance has been placed on the judgements, technical made from time to time, and the mortality rate are made in
he controls over the review and approval of actuarial
T
improved access to coal which will be extracted in future estimations of internal / external technical and other experts valuing the Group’s defined benefits obligations. The Group
assumptions, the completeness and accuracy of data
periods. Stripping costs during the production phase are for the purpose of technical/ commercial evaluation of the engages external actuarial specialists to assist in selecting
provided to external actuary, and the reconciliation to data
allocated between the inventory produced and the stripping stripping ratios, proved/ probable reserves in mines, current appropriate assumptions and calculate the obligations.
used in expert’s calculation were tested;
activity asset using a standard strip ratio (overburden-to-coal). and expected volume of production, life of the mines etc. Valuation of the defined benefit obligations requires a high
and also submissions made to the authorities in this respect; degree of estimation based on vital assumptions and as such iscussed with the Management about the liability
D
The standard strip ratio is the total volume of Overburden adequate attention is required to be given in this respect during accrued due to defined benefit plan and to understand
expected to be removed over the life of the mine against the total Reviewed the requirements of Appendix B- Stripping the course of the audit. the business and assessed if there was any inconsistency in
coal to be extracted over the life of the mine. When the actual Costs in the Production Phase of a surface mine of Ind the assumptions;
volume of overburden removed is greater than the expected AS- 16 “Property, Plant and Equipment” and assessed the
dequacy of the Group’s disclosure as per Ind AS 19 in the
A
volume of overburden removal, the stripping cost for excess compliances and appropriateness of the policy being
notes is verified;
overburden removed over the expected overburden removal is followed, disclosures etc. made in the financial statements
capitalized to the stripping activity asset. The stripping activity in this respect and those as required in terms of Ind AS. lacing reliance on the actuarial assumptions including
P
asset is amortized over the life of the mine. Such costs during discount rates, the inflation rates, escalation of salary and
the production phase are recognized in the mines with a rated Based on the procedures performed, we have satisfied ourselves the mortality rate, etc.
capacity of one million Tonnes per annum and above. regarding stripping activity accounting.
Based on the audit procedures involved, we observed that
We considered this to be a Key Audit Matter considering that the the assumptions made by the management in relation to the
stripping activity is peculiar and vital to the mining operations valuation were supported by available evidences.
and more so for the reason that the policy for recognizing
stripping activity cost during production phase as required in
terms of Appendix B- Stripping Costs in the Production Phase
of a surface mine of Ind AS- 16 “Property, Plant and Equipment”
have been implemented during the year and consequent to this
there are changes in assumptions, estimates etc. and treatments
having retrospective implications for which impacts have been
given in the financial statements of the subsidiaries and in turn
in the consolidated financial statements.
218 219
Key Audit Matters Addressing the Key Audit Matters Information Other than the Consolidated Financial ensuring the accuracy and completeness of the accounting
Corporate Overview
Statements and Auditors’ Report Thereon records, relevant to the preparation and presentation of the
Evaluation of provisions and Contingent Liabilities: Our Audit procedures based on which we arrived at the
Consolidated Financial Statements that give a true and fair
There are a number of litigations including direct and indirect conclusion regarding reasonableness of disclosure of contingent The Holding Company’s Board of Directors is responsible for
taxes, various claims, etc. pending before various forums against liability and recognition of provisions includes the following: view and are free from material misstatement, whether due
the preparation of the other information. The other information
the Company and the management’s judgement is required We have obtained an understanding of the Company’s
to fraud or error, which have been used for the purpose of
comprises the information included in the Annual Report,
for estimating the amount to be provided and/or disclosed as internal instructions and procedures in respect of estimation, preparation of the Consolidated Financial Statements by the
contingent liability. assessment and disclosure of contingent liabilities; but does not include Consolidated Financial Statement,
Directors of the Holding, as aforesaid.
Standalone Financial Statements and our auditors’ report
We identified this as a key audit matter because the estimates nderstood and tested the design and operating
U
and assessment with respect to these involve a significant effectiveness of controls as established by the management thereon. The other information as stated above is expected to In preparing the Consolidated Financial Statements, the
degree of management’s judgement, interpretations, and may for obtaining all relevant information for pending be made available to us after the date of this auditors’ report. respective Board of Directors of the companies included in the
therefore require adequate attention to arrive at the required litigation cases; Group and of its Joint Ventures are responsible for assessing
conclusion. iscussed with the management regarding any material
D Our opinion on the Consolidated Financial Statements does
the ability of the respective entities to continue as a going
Statutory Reports
(Refer Note 16.1.(a) to the Consolidated Financial Statements, developments and current status of matters pending not cover the other information and we do not express any
concern, disclosing, as applicable, matters related to going
read with the material Accounting Policy No. 2.22) as on 31.03.2024. form of assurance conclusion thereon.
concern and using the going concern basis of accounting
ead various correspondences and related documents
R
pertaining to litigations involved and relevant external legal In connection with our audit of the Consolidated Financial unless Management either intends to liquidate their
opinions obtained by the management and performed Statements, our responsibility is to read the other information respective entities or to cease operations, or have no realistic
substantive procedures on estimation supporting the identified above when it becomes available, compare with alternative but to do so.
disclosure of contingent liabilities;
the financial statements of the subsidiaries audited by the
xamined management’s judgements and assessments with
E The respective Board of Directors of the companies included
other auditors or the unaudited subsidiaries and Joint Venture
respect to the provisions if any required for any such matter; in the Group and of its Joint Ventures are also for responsible
duly certified by the management, to the extent it relates to
eviewed the management’s assessments of those matters
R for overseeing the financial reporting process of the Group
these entities and, in doing so, place reliance on the work of
which have not been provided for or disclosed as contingent and of its Joint Ventures.
liability since the probability of material outflow has been the other auditors/ management certification and consider
considered to be remote; whether the other information is materially inconsistent with
Reviewed the adequacy and completeness of disclosures. the Consolidated Financial Statements or our knowledge Auditors’ Responsibilities for the Audit of the
Based on the above procedures performed, the estimation of obtained during the course of our audit or otherwise appears Consolidated Financial Statements
provision and disclosures for contingent liabilities have been to be materially misstated. Other information so far as it Our objectives are to obtain reasonable assurance about
considered to be adequate and reasonable. relates to the subsidiaries and joint ventures is traced from whether the Consolidated Financial Statements as a whole
Exploration and Evaluation Assets: Our Audit procedures based on which we arrived at the conclusion their financial statements audited by the other auditors or are free from material misstatement, whether due to fraud
Exploration and Evaluation assets comprise capitalized costs regarding reasonableness of Impairment of Exploration and management certified. or error, and to issue an auditors’ report that includes our
which are attributable to the search of coal and related resources, Evaluation Assets includes the following:
pending the determination of assessment of technical feasibility Obtaining an understanding from management about
opinion. Reasonable assurance is a high level of assurance,
When we read the other information as stated above and if
and commercial viability. the nature of expenditure capitalized in Exploration and but is not a guarantee that an audit conducted in accordance
we conclude that there is a material misstatement therein, we
It is valued at cost and adjusted for impairment losses after Evaluation Asset; with SAs will always detect a material misstatement when it
are required to communicate the matter to those charged with
carrying out impairment testing. btained ageing of expenditure incurred on ongoing
O exists. Misstatements can arise from fraud or error and are
governance and describe necessary actions required as per
Recoverability of such expenditure is also dependent upon the project and progress report of ongoing project from considered material if, individually or in the aggregate, they
production and planning department (P and P); applicable laws and regulations.
future cash inflows i.e. on development of ongoing project. could reasonably be expected to influence the economic
As per requirement of Ind AS 36 Impairment of Assets, Group valuated the controls in place for recognition and disclosure
E decisions of users taken on the basis of these Consolidated
is required to test the asset for impairment indicators from time of exploration and evaluation assets in consolidated Responsibilities of Management and Those Financial Statements.
to time. financial statements;
Charged with Governance for the Consolidated
Impairment provisions and assessment of exploration and btained and read the Group’s policies, processes and
O Financial Statements As part of an audit in accordance with SAs, we exercise
evaluation asset involves critical judgment with respect to procedures in respect of identification of impairment professional judgment and maintain professional skepticism
technical feasibility and commercial viability of ongoing project. indicators, recording and disclosure of impairment charge/ The Holding Company’s Board of Directors is responsible
(reversal) and identified key controls. For selected controls throughout the audit. We also:
This is a vital area concerning mining operation and has for the matters stated in section 134(5) of the Companies
we have performed tests of controls; Act 2013(‘the Act´) with respect to the preparation and
therefore been considered as Key audit matter for the purpose Identify and assess the risks of material misstatement
of our audit. nalysed the internal and external factors impacting the
A presentation of these Consolidated Financial Statements in of the Consolidated Financial Statements, whether due
value and feasibility of exploratory assets and assessing,
terms of the requirements of the Companies Act, 2013 that to fraud or error, design and perform audit procedures
whether there are any indicators of impairment in line
with Ind AS 36; give a true and fair view of the consolidated financial position, responsive to those risks, and obtain audit evidence that
eviewed the estimation for reserves and resources and
R consolidated financial performance and consolidated cash is sufficient and appropriate to provide a basis for our
policies and procedures adopted and read the reports flows of the Group including its Joint Ventures in accordance opinion. The risk of not detecting a material misstatement
provided by the management’s reserves including from with the accounting principles generally accepted in India, resulting from fraud is higher than for one resulting from
external experts an internal as well as external third party including the Accounting Standards specified under section error, as fraud may involve collusion, forgery, intentional
findings in this respect;
133 of the Act. The respective Board of Directors of the omissions, misrepresentations, or the override of
ompared the production forecasts used in the impairment
C companies included in the Group and of its Joint Ventures are
tests with management’s approved reserves and internal control;
responsible for maintenance of adequate accounting records
resources estimates;
in accordance with the provisions of the Act for safeguarding Obtain an understanding of internal financial control
eliance has been placed on the technical evaluation,
R
the assets of the Group and Joint Ventures and for preventing relevant to the audit in order to design audit procedures
parameters and management’s assessment of carrying the
exploratory assets and estimation for possible economic and detecting frauds and other irregularities; selection and that are appropriate in the circumstances. Under section
value on completion. application of appropriate accounting policies; making 143(3)(i) of the Companies Act, 2013, we are also
Our procedures did not identify any material exceptions judgments and estimates that are reasonable and prudent; responsible for expressing our opinion on whether the
and the design, implementation and maintenance of adequate Holding Company, it’s subsidiaries and Joint Ventures
internal financial controls, that were operating effectively for incorporated in India have adequate internal financial
220 221
controls with reference to Consolidated Financial public disclosure about the matter or when, in extremely us by the Board of Directors, these financial statements for interest thereon as per MSME Act, Income tax
Corporate Overview
Statements in place and the operating effectiveness rare circumstances, we determine that a matter should are not material to the Group. computations as such need to be ascertained.
of such controls; not be communicated in our report because the adverse
consequences of doing so would reasonably be expected to 3. In case of one Joint Ventures (International Coal Ventures Our Opinion on Consolidated Financial Statements in respect
Evaluate the appropriateness of accounting policies used outweigh the public interest benefits of such communication. Private Limited), the Audited Financial Statements for the of the above matters is not modified.
and the reasonableness of accounting estimates and year ended 31st March, 2024 have not been submitted to
related disclosures made by the management; the Holding Company and as such these have not been
Other Matters Report on Other Legal and Regulatory
considered for consolidation.
Conclude on the appropriateness of Management’s use of Requirements
1. We did not audit the financial statements/ financial
the going concern basis of accounting and, based on the 4. The Financial Statements for the period ended March 1) As required under Section 143(5) of the Companies
information of ten subsidiaries (including step down
audit evidence obtained, whether a material uncertainty 31, 2024 of the foreign subsidiary Coal India Africana Act, 2013, we give in the “Annexure-A”, a statement on
subsidiaries) included in the consolidated financial
exists related to events or conditions that may cast Limitada have been prepared as per General Accounting the matters specified in the directions and additional
statements for the year ended March 31, 2024, whose
Statutory Reports
significant doubt on the ability of the Group and its Joint Plan for small entities in Mozambique (PGC-PE) and directions issued by The Comptroller and Auditor
financial statements reflect total assets of H 2,25,827.08
Ventures to continue as a going concern. If we conclude have accordingly been considered for consolidation. General of India based on the audit reports submitted by
crores and total net assets of H 76,567.72 crores as at
that a material uncertainty exists, we are required to draw No adjustments have been made for the differences their independent auditors of the respective subsidiaries.
March 31, 2024, total revenues of H 1,51,321.75 crores,
attention in our auditors’ report to the related disclosures between such financial statement prepared as per Financial Statements of one subsidiary and three Joint
total net profit after tax of H 36,262.90 crores, total
in the Consolidated Financial Statements or, if such General Accounting Plan for small entities in Mozambique Ventures as stated in Note 16.3 are unaudited and no
comprehensive income of H 35,896.22 Crores and net cash
disclosures are inadequate, to modify our opinion. Our (PGC-PE) and Indian Generally Accepted Accounting report in this respect has been provided to us for our
inflow/(outflow) of H (552.27) crores for the year ended as
conclusions are based on the audit evidence obtained up principles (GAAP). consideration. Financial Statement of one of the Joint
on that date as considered in the consolidated financial
to the date of our auditors’ report. However, future events Venture as stated in Note 16.3(v) has not been considered
statements. The Consolidated Financial statement also As represented by the Management on which we have
or conditions may cause the Group and its Joint Ventures for consolidation.
include the Group’s share of total net profit after tax of placed reliance, the impact with respect to (2) to (4)
to cease to continue as a going concern;
H 0.02 Crore and total comprehensive income of H 0.02
above are not material. 2) As required by Section 143(3) of the Act, we report, to the
Evaluate the overall presentation, structure and content Crore for the year ended as on that date as considered
extent applicable, that:
of the Consolidated Financial Statements, including the in the consolidated financial statements, in respect 5. The Regulation 17(1) read with Schedule II of SEBI (Listing
disclosures, and whether the Consolidated Financial of one joint venture. These financial statements and Obligations and Disclosure Requirements) Regulations, (a) We have sought and obtained all the information and
Statements represent the underlying transactions and other financial information have been audited by other 2015 dealing with mandatory requirement of an explanations which to the best of our knowledge and
events in a manner that achieves fair presentation; and auditors whose reports have been furnished to us by the independent woman director is yet to be complied with belief were necessary for the purposes of our audit
management, and our conclusion on the Statement, in so by the Holding Company for which penalty have been of the aforesaid Consolidated Financial Statements;
Obtain sufficient appropriate audit evidence regarding far as it relates to the amounts and disclosures included levied by Stock Exchanges from time to time .On request
the financial information of the entities or business in respect of these subsidiaries and Joint Ventures , is for waiver by the company, such penalties are at times (b) In our opinion, proper books of account as required
activities within the Group and its Joint Ventures to express based solely on the reports of the other auditors after waived and/or considered for waiver by Stock Exchanges. by law relating to preparation of the aforesaid
an opinion on the Consolidated Financial Statements. considering the requirements of Standard of Auditing Demand of H 1.57 Crores (excluding H 0.10 Crores waived) Consolidated Financial Statements have been kept
We are responsible for the direction, supervision and (SA 600) on ‘Using the work of another auditor including outstanding as on 31.03.2024 in this respect has been by the Group and its Joint Ventures so far as it
performance of the audit of the Standalone Financial materiality’ and the procedures performed by us as considered as Contingent Liability. Further, In respect of appears from our examination of those books and
Statements of the Holding Company included in the already stated above. SECL, one of the subsidiary, requirement for appointment the reports of the other auditors;
Consolidated Financial Statements of which we are the of independent woman director as reported by their
2. The Consolidated Audited Financial Statements include (c) The Consolidated Balance Sheet, the Consolidated
independent auditors. For the other entities included statutory auditor was also not complied with.
the financial statement of one subsidiary (Coal India Statement of Profit and Loss including other
in the Consolidated Financial Statements, which have comprehensive income, and the Consolidated
been audited by other auditors, such other auditors Africana Limitada, Mozambique) which have not been 6. Note 16.7(e) regarding certain debit/credit balances
Cash Flow Statement dealt with by this Report are
remain responsible for the direction, supervision and reviewed by their auditor, whose financial statement including trade receivables, other current and non-current
in agreement with the relevant books of account
performance of the audits carried out by them. reflect total assets of H 0.65 crores and total net assets/ assets, trade payables, other financial liabilities and other
maintained for the purpose of preparation of the
(liabilities) of H (53.66) crores as at 31st March, 2024, current and non-current liabilities in the Group are subject
Consolidated Financial Statements;
We communicate with those charged with governance total revenues of H 0.03 crores, total net profit/(loss) to confirmation and consequential reconciliation.
regarding, among other matters, the planned scope and after tax of H 0.03 crores, total comprehensive income of (d) In our opinion, the aforesaid Consolidated Financial
timing of the audit and significant audit findings, including H 0.03 crores for the year ended as at 31st March 2024 7. Other Current Liabilities ( Note 10.2) include H 2,331.42 Statements comply with the Indian Accounting
any significant deficiencies in internal control that we identify as considered in the Consolidated Audited Financial Crore pertaining to the CESS Equilisation account taken Standards specified under Section 133 of the Act
during our audit. Statements. The Consolidated Financial Statements also as per the Audited Financial Statements of Eastern read with the relevant rules issued thereunder;
include the Group’s share of total net profit after tax of Coalfields Limited , one of the subsidiary company. This
We also provide those charged with governance with a H 426.81 Crores and total comprehensive income of represents the differential with respect to the payment of (e) In pursuance to the Notification No. G.S.R 463(E)
statement that we have complied with relevant ethical H 426.87 Crores for the year ended as on that date as CESS on production of coal and realization made from the dated 5th June, 2015 issued by the Ministry
requirements regarding independence, and to communicate customers as per the notification and procedure followed of Corporate Affairs, Section 164(2) of the
considered in the consolidated financial statements, in
with them all relationships and other matters that may in this respect. Obligation of the subsidiary as well as the Companies Act, 2013 pertaining to disqualification
respect of three joint ventures based on their Financials
reasonably be thought to bear on our independence, and group in turn in this respect needs to be established. of directors, the same is not applicable to
Statements which have not been reviewed by their
where applicable, related safeguards. Government Companies; and
auditors. These Financials statements are unaudited
8. The determination of the transactions with MSME
and have been furnished to us by the Management (f) With respect to the adequacy of internal financial
From the matters communicated with those charged with vendors and balances thereof, have been done
and our opinion on the Statement, in so far as it relates controls with reference to the financial statements of
governance of the Holding Company, we determine those based on the certificate received from the respective
to the amounts and disclosures included in respect of the Group and it’s Joint Ventures and the operating
matters that were of most significance in the audit of the parties and available from the system. In absence of
these subsidiary and joint ventures, are based solely on effectiveness of such controls, refer to our separate
Consolidated Financial Statements of the current period and complete reconciliation in this respect, completeness
such unaudited financial statements. In our opinion and report in “Annexure – B”.
are therefore the key audit matters. We describe these matters of the disclosures in respect of MSME vendors, liability
according to the information and explanations given to
in our auditors’ report unless law or regulation precludes
222 223
3) As per notification number G.S.R. 463 (E) dated 5th directly or indirectly, lend or invest in other 6) In our opinion and according to the information and explanations given to us, the qualifications or adverse remarks by the
Corporate Overview
June, 2015 issued by the Ministry of Corporate Affairs, persons or entities identified in any manner respective auditors of the subsidiaries on the matters specified in paragraphs 3 and 4 of the Companies (Auditors’ Report)
provisions of section 197 of the Act as regards the whatsoever by or on behalf of the Funding Order, 2020, issued by the Central Government of India in terms of sub-section (11) of section 143 of the Companies Act,
managerial remuneration are not applicable to the Group Party (“Ultimate Beneficiaries”) or provide any 2013 to the extent applicable (“the Order”), are provided in the format below as per requirement of clause 3(xxi) of the Order.
and its Joint Ventures. guarantee, security or the like on behalf of the
Ultimate Beneficiaries; and Holding
4) With respect to the other matters to be included in the Company/
Auditors’ Report in accordance with Rule 11 of the (c) Based on such audit procedures that the Sr. Corporate Identification Number Clause number of the CARO report
Name Subsidiary/
Companies (Audit and Auditors) Amendment Rules, statutory auditors of the Holding Company and No. (CIN) which is qualified or adverse
Step down
2021, in our opinion and to the best of our information its ten subsidiaries viz. BCCL, ECL, MCL, SECL, subsidiary
and according to the explanations given to us and based WCL, CCL, CMPDIL,NCL,CNUL and CSPL as
on the consideration of reports of the other auditors have considered reasonable and appropriate 1 Coal India Limited L23109WB1973GOI028844 Holding 3(i)(c), 3(ii)(b),3(vii)(b), 3(xvi)(a), 3(xvi)(b),
Statutory Reports
of subsidiaries: in the circumstances, nothing has come to their Company 3(xvi)(c)
notice that has caused them to believe that the 2 Eastern Coalfields U10101WB1975GOI030295 Subsidiary 3(i)(a), 3(i)(c), 3(vii)(a) ,3(vii)(b),
i) The Group has disclosed the impact of pending representations under sub-clause (a) and (b) Limited (ECL)
litigations on the consolidated financial position of contain any material mis-statement; and 3 Bharat Coking Coal Ltd. U10101JH1972GOI000918 Subsidiary 3(i)(c), 3(xi)(a), 3(vii)(b),3(xx)(b)
the Group – Refer Note 16.1(a) to the Consolidated (BCCL)
Financial Statements; v) In case of the Holding Company and five subsidiaries 4 Central Coalfields Ltd. U10200JH1956GOI000581 Subsidiary 3(i)(c), 3(ii)(a) ,3(vii)(b)
namely NCL, CCL, MCL, CMPDIL and SECL dividend (CCL)
ii) The Group has made provision, as required under declared or paid during the year by them are in 5 Northern Coalfields U10102MP1985GOI003160 Subsidiary 3(i)(a), 3(i)(b), 3(i)(c) ,3(vii)(b)
the applicable law or accounting standards, for Ltd. (NCL)
compliance with section 123 of the Companies Act,
material foreseeable losses, if any, on long-term 6 Western Coalfields Ltd. U10100MH1975GOI018626 Subsidiary 3(i)(c) ,3(vii)(b),
2013. In case of remaining five subsidiary companies (WCL)
contacts including derivate contracts; namely BCCL, ECL, WCL, CNUL and CSPL no such
7 South Eastern U10102CT1985GOI003161 Subsidiary 3(i)(b), 3(i)(c), 3(ii)(a), 3(iii)(c), 3(iii)(d),
dividend has been declared and paid during the Coalfields Ltd. (SECL) 3(iii)(f) ,3(vii)(b), 3(xi)(a), 3(xiv)(b)
iii) There were no amounts which were required
year and hence provisions of section 123 of the 8 Chhattisgarh East U45203CT2013GOI000729 Step down 3(xvii), 3(iii)(a) ,3(vii)(b)
to be transferred to the Investor Education and
Companies Act, 2013 are not applicable to them. Railway Limited subsidiary
Protection Fund (IEPF )by Holding Company and its
9 Chhattisgarh East-West U45203CT2013GOI000768 Step down 3(i)(c),3(vi), 3(xvii) ,3(vii)(b)
subsidiaries except in case of SECL and WCL where 5) Based on our examination, which included test checks, Railway Limited subsidiary
there were no delay in transferring amount required and based on the audit reports submitted by us and the 10 Mahanadi Coalfields U10102OR1992GOI003038 Subsidiary 3(i)(a),3(i)(b), 3(i)(c), 3 (ii)a, 3(iii)(b),3(iii)
to be transferred to IEPF; independent statutory auditors of the nine subsidiaries Ltd. (MCL) (f), 3(xi)(a), 3(xiv)(a) ,3(vii)(b)
namely BCCL, ECL, MCL, SECL, WCL, CCL, CMPDIL,NCL 11 Mahanadi Basin Power U40102OR2011GOI014589 Step Down 3(xvii)
iv) (a) As represented by the respective managements Limited (MBPL) Subsidiary
and CNUL, the Holding Company and these subsidiaries
of Holding Company and its ten subsidiaries 12 Central Mine Planning U14292JH1975GOI001223 Subsidiary 3(i)(c), 3(xi)(a) ,3(vii)(b)
have used accounting software for maintaining its books
viz. BCCL, ECL, MCL, SECL, WCL, CCL, CMPDIL, & Design Institute Ltd.
of account for the financial year ended March 31, 2024 (CMPDIL)
NCL, CNUL and CSPL, no funds have been
which has a feature of recording audit trail (edit log) facility 13 CIL Solar PV U40106WB2021GOI244573 Subsidiary 3(xvii)
advanced or loaned or invested (either from
and the same has been in operation throughout the year Limited(CSPL)
borrowed funds or share premium or any other
for all relevant transactions recorded in the software’s 14 CIL Navikarniya Urja U40106WB2021GOI244574 Subsidiary 3(xvii)
sources or kind of funds) by the Company to or
except in case of CNUL where statutory auditor of the Limited (CNUL)
in any other person(s) or entity(ies), including
said subsidiary has reported that CNUL has not used
foreign entities (“Intermediaries”), with the
any software for maintaining books of accounts using
understanding, whether recorded in writing or
accounting software which has a feature of recording
otherwise, that the Intermediary shall, whether,
audit trail (edit log) facilities. CNUL maintains books of
directly or indirectly lend or invest in other
account manually in spreadsheet in excel without using
persons or entities identified in any manner
any software. Further as reported by us and the statutory
whatsoever by or on behalf of the Company
auditors of the subsidiary companies, there were no
(“Ultimate Beneficiaries”) or provide any
instance of the audit trail feature being tampered with.
guarantee, security or the like on behalf of the
Ultimate Beneficiaries; In respect of CSPL, their statutory auditor has not reported For Lodha & Co LLP
the required status with respect to audit trail maintained Chartered Accountants
(b) As represented by the respective managements
by the said subsidiary and as such we are not able to Firm’s ICAI Registration Number: 301051E/E300284
of the Holding Company and its ten
comment on the same.
subsidiaries viz. BCCL, ECL, MCL, SECL,
WCL, CCL, CMPDIL,NCL,CNUL and CSPL , no As proviso to Rule 3(1) of the Companies (Accounts) Sd/-
funds have been received by the Company Rules, 2014 is applicable from April 1, 2023, reporting R. P. Singh
from any person(s) or entity(ies), including under Rule 11(g) of the Companies (Audit and Auditors) (Partner)
foreign entities (“Funding Parties”), with the Rules, 2014 on preservation of audit trail as per the Place: Kolkata Membership No. 052438
understanding, whether recorded in writing statutory requirements for retention of the record is not Date: 2nd May, 2024 UDIN: 24052438BKFNDU7829
or otherwise, that the Company shall, whether, applicable for the financial year ended March 31, 2024.
224 225
S.
“ANNEXURE-A” TO THE INDEPENDENT AUDITORS’ REPORT
Corporate Overview
Direction Auditors’ Reply on the action taken on the directions
No.
(Referred to in Paragraph 1 of “Report on Other Legal and Regulatory requirements” section of our Audit Report) e) In case of MCL, as reported by the auditor of the said subsidiary, the
Company has implemented SAP to maintain books of accounts. The
Part I- Directions
Financial transactions are recorded through SAP except processing of
S. calculation of performance income, compensation income and interest
No. income on delayed payment. However, the same as reported has no impact
(i) Whether the Company has system in According to the information and explanations given by the management of the on the integrity of the accounts.
place to process all the accounting Holding Company and as reported by the auditors of the subsidiaries, the Group f) In case of CCL as reported by the auditor of the said subsidiary, there is
transactions through IT System? If has implemented a new ERP Software (SAP) and has been migrated from the old a system in place to process all the accounting transaction through SAP
yes, the implications of processing accounting software Coalnet with effect from various dates as given below. system. The accounting of Performance Incentives, Closing Stock Valuation
and OBR have been done through other IT system and end result is entered
Statutory Reports
of accounting transactions outside IT olding Company - HO, Delhi office, Mumbai RSO from April 01, 2021 and
H in the main accounting system.
system on the integrity of the accounts NEC from August 01, 2021 and Chennai Regional Sales Office (RSO) and
g) In case of CMPDIL, as reported by the auditor of the said subsidiary, there
along with the financial implications, if with effect from August 01, 2021. is a system in place to process all the material accounting transaction and
any may be stated.
MCL – from April 01, 2021 recording of all underlying business transactions has been done in its
SECL, ECL and BCCL – from August 01, 2021 SAP-ERP Software. Accordingly, there are no implications on the integrity
of the accounts. The information/Data has been found to be flowing from
WCL, CCL, NCL and CMPDIL – from October 01, 2021 various modules and captured in the financials through automation under
a) In case of Holding Company, Post implementation of SAP, accounting of SAP for the processes like Financial Accounting and Controlling (FICO),
all the transactions is being processed through the SAP except valuation Sales and Distribution (S&D), Material Management (MM), Human Capital
of closing stock of coal at North Eastern Coalfield which have been Management (HCM), Production Planning (PP), Project System (PS) and
maintained manually. Further, various ageing analysis which are required to Plant Maintenance (PM).
be disclosed in the financial statements have also been prepared manually As mentioned by statutory auditor of CMPDIL, during the course of audit, it
by the management. was observed that, following activities are performed, outside SAP:
Further, no system audit and migration audit covering the implications of The current financial reporting process involve the preparations of balance
sheet and profit & loss accounts in SAP. However, for the presentation of
processing of such transactions has been conducted and any consequential
quarterly/annual accounts, each footnotes retrieved from SAP is manually
effect on the integrity of the accounts, along with related financial
compiled into a separate excel format. This has been done to align with
implications, if any, are unascertainable.
the disclosures requirement of IND AS and Schedule III of Companies Act.
As per information and explanations given to us, post completion of Additionally, the supplementary notes to accounts have currently been
stabilization phase on 31st March 2022, the system is under AMC phase. compiled manually in a Word document.
b) In case of NCL, as reported by the auditor of the said subsidiary, Company In respect of the activities performed by them outside SAP, as above, there
has a system in place to process all the accounting transactions through is no material financial implications.
IT systems. However, accounting of several items based on schedules As per information and explanations given by the management to the
prepared and updated manually in excel form. statutory auditors of CMPDIL, Post completion of stabilization phase on 31st
March 2022, the system is under AMC phase.
c) In case of BCCL and ECL, as reported by the auditors of the said subsidiaries,
this application covers mostly all the functionalities to run the business h) In case of SECL, as reported by the auditor of the said subsidiary, the
subsidiary is using SAP software for accounting of transaction.
process smoothly and efficiently to fulfill the intense requirement of the
respective Companies. However, the statutory auditor of SECL observed that the valuation of coal
and OBR have still not been done through SAP and has been done using
d) In case of WCL, as reported by the auditor of the said subsidiary, the
an Excel utility. Later on relevant accounting entries are passed in the SAP.
company is using SAP Software for accounting of transaction. However, Moreover, attendance in biometric machines has not been integrated
they observed that valuation of Coal and OBR is still not done through SAP with ERP system.
and is done using an Excel utility and later relevant accounting entries are The Step Down Subsidiary Companies CERL and CEWRL uses Tally Prime as
passed in the SAP. Further, various information including ageing analysis accounting software to record all the accounting software.
which are required to be disclosed in the financials as per the Act, are also
No integrity issues were observed by the auditors of those
prepared manually by the management of WCL. Also attendance in Bio companies during audit.
metric Machines is not integrated with ERP System. No integrity issues were i)
In Case of CNUL, Company is yet to generate revenue and incur any
observed by them during Audit. major expenses. Since incorporation, transaction level is mainly restricted
to statutory compliances. Company uses end users computing tools like
No system audit and migration audit covering the implications of spreadsheet in excel form to record transactions and no other accounting
processing of such transactions, any consequential effect on the integrity software or system has been used for making entries in its books of accounts.
of the accounts, along with related financial implications, etc. have been
j)
In Case of CSPL, subsidiary all the transactions have been routed
carried out by them. through the IT system.
226 227
S. Part II - Additional Directions: -
Corporate Overview
No. S.
Additional Direction Auditors’ Reply on the action taken on the directions
(ii) Whether there is any restructuring of As per the information and explanations given by the management of the No.
an existing loan or cases of waiver/ Holding Company, there is no loan taken from any lender.
write off of debts/loans/interest etc. In case of Subsidiaries, as reported by their respective auditors, no restructuring (i) Whether coal stock measurement According to the information and explanations given to us and on the basis of our
made by a lender to the company due was done based on Yellow examination of the records of the Holding Company and as reported by the auditors
of loan or cases of waiver/write off of debts/loans/interest etc. have been done
Book? Whether physical stock of the subsidiaries (except CMPDIL since not applicable), coal stock measurement in
to the company’s inability to repay by the lender during the year. measurement reports are respective areas have been done based on Yellow Book.
the loan? If yes, the financial impact accompanied by contour map in
may be stated. Whether such cases are According to the information and explanations given to us by the Holding Company
all cases? Whether approval of the and as reported by the auditors of the subsidiaries (except CMPDIL, CSPL and CNUL
properly accounted for? (In case, lender competent authority was obtained since not reported by the respective auditors), coal stock measurement were done in
is a Government company, then this for new heap, if any, created during respective areas as accompanied by contour map (in case of MCL, contour map/3D TLS).
the year.
Statutory Reports
direction is also applicable for statutory
In case of BCCL, as reported by the auditor of the said subsidiary and as per the
auditor of Lender company) explanation and information provided to them, the coal stock measurements of
(iii) Whether funds (grants/subsidy etc.) According to the information and explanations given to us by the Holding the heaps have been done as per the Yellow Book. Coal Stock dumps are being
received / receivable for specific Company and as reported by the auditors of the subsidiary companies, the created by the collieries at prefix locations for which contour plans are prepared
schemes from Central / State following funds and grants were received /receivable for specific schemes from and approved by competent authority in advance, i.e. prior to dumping of coal.
Government or agencies were properly Central/State agencies during the year: However, in some of the cases, small stocks (Heaps) whose geometrical shape are
cumbersome and are not fit for measurement using contour plan / level section, are
accounted for / utilized as per its
a) In case of Holding Company, no grants/funds were received for specific being measured by conventional method, even if such stocks are having contour
terms and conditions? List the cases of plans. The stock measurement reports are accompanied by contour plans.
deviation. schemes from Central / State Government or agencies during the year.
For the washeries the stocks of slurry, rejects and middling are building up since
inception of the washery, i.e. prior to take over by BCCL. The heaps, particularly
Grants of H 3.74 Crores received during the year in relation to assets and
revenues have been properly accounted for as per the accounting policy of reject, slurry, middling etc. are huge in shape and size and these are not having
contour plans, and as such these are being measured following conventional method.
followed in this respect.
As per explanation and information given by the Holding Company and based on the
b) In case of CCL and ECL no such case of deviation has been reported. Auditors’ Report of the subsidiaries, new heaps created during the year are having
approval of competent authority.
c) In case of, SECL, WCL, BCCL, CNUL, CSPL and NCL no funds for specific No new heaps were created in any of the mines of North Eastern Coalfields during
scheme from central/state agencies have been reported as received/to be the financial year in case of Holding Company. As reported by the respective auditors
received during the year. of the subsidiaries.
(ii) Whether the company has According to the information and explanations given to us by the Holding Company
d) In case of MCL, no CCDA grant was received as capital grant from Ministry conducted physical verification and as reported by the auditors of the subsidiaries (except CMPDIL, CSPL and CNUL
of Coal, Govt. of India towards assistance for roads and rails infrastructure exercise of assets and properties since not reported by the respective auditors), there is no case of merger/split/re-
works during the year. The outstanding balance in this respect is H 125.15 at the time of merger/ split/ structure of an area during the year and therefore no physical verification of assets
restructure of an area. If so, whether and properties is required except in case of CCL, ECL and BCCL.
crores as on 31.03.2024. Out of the above H 111.25 crores has been shown
the concerned subsidiary followed
under Deferred income and the current portion of H 13.90 crores has been In case of CCL, restructure of accounting figures has been done for financial year 22-23
the requisite procedure.
shown under ‘Other Current Liabilities’. as there is separation Giridih area from Dhori w.e.f 1st April 2023 for reporting purpose
only. As reported, there is no physical restructure of asset and properties. Giridih Area
e) In case of CMPDIL, as reported by the auditor , the company has neither and Dhori are have its own assets being maintained separately in their area and books
of accounts. Only profit centers are merged in books of accounts for reporting purposes
received nor considered receivable any funds/grants except against
in previous financial year.
detailed and promotional drilling, R&D , S&T and NMET which were properly
In case of ECL, as per the information and explanation provided to the auditors, the
utilized as per the terms and conditions.
said subsidiary has conducted physical verification exercise of assets and properties
at the time of merger of Satgram and Stripur Area to Satgram- Sripur Area.
In case of BCCL, there are no cases of merger / split / restructure of any Area of BCCL
during the Financial Year 2023-24, except due to administrative decision taken by the
Company for accounting conveniences, Mine Rescue Station has been merged with
Bastacola Area and Bhuli Township Administration has been merged with Kusunda
Area.
(iii) Whether separate Escrow Accounts a) According to the information and explanations given to us by the Holding
for each mine has been maintained Company and as reported by the auditors’ of the subsidiaries (except CMPDIL,
in CIL and its subsidiaries. Also CSPL and CNUL since not reported by the respective auditors), separate Escrow
examine the utilization of the fund Accounts for each mine has been maintained in CIL and its subsidiaries except
of the account. in case of CCL, where escrow account in respect of Pindra OC Mines have not
yet been opened due to non-availability of Approved PR&MCP.
b) In case of Holding Company, no such fund as explained by the management
has been withdrawn during the year.
c) In case of SECL, the proposal for utilization of fund of the escrow accounts has
been initiated.
228 229
S. S.
Corporate Overview
Additional Direction Auditors’ Reply on the action taken on the directions Additional Direction Auditors’ Reply on the action taken on the directions
No. No.
d) In case of BCCL, MCL, WCL and ECL, no amount has been withdrawn from (vi) Whether exploration of blocks was In case of CMPDIL, there is no MOU between CMPDIL and MOC/CIL/NMET. CMPDIL
Escrow account during the year. completed in compliance of MOU is the nodal agency for all information related to exploration of coal and lignite in
and grant received for detailed and the country. CMPDIL undertakes the activities of detailed and promotional drilling as
e) In case of WCL, As per information and explanation provided to us and based on promotional drilling utilized and per the projects/blocks sanctioned/approved by MOC/CIL/NMET either by itself or
our examination of records, Separate Escrow Accounts are maintained for each accounted properly. List the case through MECL and private parties through MOU and tenders.
of deviation. (Applicable only to
mine at Headquarters. Amount of H 2.83 crores is utilized during the year out of On the basis of examination of the samples on test check basis by the statutory
subsidiary CMPDIL)
the funds earmarked in the escrow accounts based on the CCO certification. auditor, it was observed that exploration of blocks were completed in compliance
of MOU and grant received for detailed and promotional drilling have been utilized
f) In case of NCL, as reported by the auditor of the said subsidiary, company and accounted for properly.
Statutory Reports
has maintained separate escrow account for each mine. The closure expenses (vii) Whether fund received for R&D & In case of CMPDIL, R&D and S&T projects are approved/sanctioned by the Technical
S&T were properly accounted for / committee of MOC/CIL with certain terms and condition based on the proposal
incurred on year to year basis forming part of the total mine closure obligation
utilized as per terms and conditions. submitted by the implementing agency/institute. CMPDIL makes an estimate of
have been initially recognized as recoverable from escrow account and List the cases of deviation. requirement of fund for all the ongoing or new R&D/S&T projects and makes
thereafter adjusted with the obligation in the year in which the amount is (Applicable only to subsidiary consolidated requisition from MOC/CIL. Once the fund is received, CMPDIL disburse
withdrawn after the concurrence of the certifying agencies.) CMPDIL) the fund to implementing agency/institute in various installments based on the
progress of the projects. Once the project is complete and Project completion report
g) In case of CCL, escrow accounts for 67 mines have been maintained and during is approved by the technical committee, implementing agency/institute submits the
the year CCL has received H NIL (Previous year – H 5.50 Crore) for mine closure utilization certificate to CMPDIL and refund the unspent amount of the fund received
for such projects to CMPDIL along with the interest earned on those funds.
activities after obtaining approval from the Coal Controller office.
(iv) Whether the impact of penalty for According to the information and explanations given to us and as reported by the On the basis of the examination of the samples on test check basis by the auditor
of the said company, it was observed that the fund received for R&D and S&T were
illegal mining as imposed by the auditors of the subsidiaries (except CMPDIL since not reported by the auditor), no
properly accounted for/utilized as per terms and condition except in the following
Hon’ble Supreme Court/ National penalty for illegal mining has been imposed by the Honorable Supreme Court/ cases where deviations have been identified:
Green Tribunal/ State Pollution National Green Tribunal/ State Pollution Control Board during the year on the
a) No MIS reporting for compliances of terms and conditions including receipt
Control Board has been duly Holding Company, MCL, SECL, NCL and WCL. Penalty for illegal mining has been of party wise audited financial statements, party wise interest earned, project
considered and accounted for? imposed by the Honorable Supreme Court in respect of the following subsidiaries: completion details, project wise details of extension and duration thereof etc.
b) Absence of Audited Financial Statements: It was noted that the audited
a) In case of CCL, pursuant to the order of the Hon’ble Supreme Court of India, financial statements related to the grants provided to different implementing
District Mining Offices of Jharkhand had raised a demand of H 13,568.50 agencies have not been maintained. In absence of these financial statement,
Crore (PY: H 13,568.50 Crore) for mining in excess of the environmental there are concerns regarding the transparency and accountability of the
clearances limit in 42 mines. Against the said demand, CCL has filed a revision utilization of the fund,
petition before the Hon’ble Coal Tribunal, Ministry of Coal, Govt. of India, the c) Lack of Documentation on Interest Earned: It was observed that suitable
adjudicating authority under the MMDR Act. The Revisional Authority vide its records pertaining to the interest earned on funds kept in bank accounts
interim order dated January 16, 2018 has stayed the execution of the demand were not maintained by the management. Specifically, the following details
were not available:
till further order. Taking into consideration the order of the Revisional Authority,
Detailed information regarding the bank accounts held along with the interest
Ministry of Coal, Govt. of India vide its order dated 21/12/2021 to Damodar
earned in bank accounts, categorized by the implementing agency.
Valley Corporation (DVC) in a similar demand notice, the said demand even
Computation of interest earned by each implementing agency during
though has been disclosed in the Note 16.1, has neither been acknowledged as
the audit period.
debt nor the same has been included as contingent liability of the consolidated
Amounts adjusted towards further installments of funds based on interest earned.
financial statement.
b) In case of ECL, the impact of penalty for illegal mining as imposed by Hon’ble
Supreme Court/National Green Tribunal/ State Pollution Control Board has
been duly considered and evaluated by the management.
c) In case of BCCL, demand notices amounting to H 17,344.46 Crore have been

issued in respect of 47 Projects/Mines/Collieries by State Government (District
Mining Officer) in pursuance of the judgement dated August 02, 2017 of
Hon’ble Supreme Court of India vide W.P. (C) No. 114 of 2014 in Common Cause For Lodha & Co LLP
vs. Union of India and Others. Based on the judgment received from Revisional Chartered Accountants
Firm’s ICAI Registration Number: 301051E/E300284
Authority, MoC and legal opinion, the above demand has been set aside.
(v) Whether any independent No Independent Assessment/Certification in respect of migration process of data
Assessment/ Certification in respect from Coalnet portal to SAP has been carried out during the year in case of the
of migration process of data from Holding Company, BCCL, NCL, WCL, CCL, ECL, SECL and CMPDIL. Sd/-
Coalnet portal to SAP has been R. P. Singh
In case of MCL, Independent assessment for migration of data from Coalnet to SAP
done. (Partner)
for finance module and vendor master has been done. Migration Audit of other
Place: Kolkata Membership No. 052438
module in SAP is yet to be done.
Date: 2nd May, 2024 UDIN: 24052438BKFNDU7829
230 231
and such internal financial controls with reference to the iii. Risk analysis of different functional areas and
“ANNEXURE-B” TO THE INDEPENDENT AUDITORS’ REPORT
Corporate Overview
financial statements were generally operating effectively as of incorporating the detailed risk control matrix
March 31, 2024 based on the internal control with reference and process flows including identifying the
to the financial statements criteria established by the Group significant account balances of expenses,
Report on the Internal Financial Controls under the design and operating effectiveness of internal control
and it’s Joint Ventures considering the essential components income, assets and liabilities including the fixed
Clause (i) of Sub-section 3 of Section 143 of the based on the assessed risk. The procedures selected depend
of internal controls stated in the “Guidance Note on Audit of assets accounting, incorporating the process
Companies Act, 2013 (“the Act”) on the auditors’ judgment, including the assessment of the
Internal Financial Controls over Financial Reporting” issued by flow by which the aforesaid transactions are
risks of material misstatement of the Consolidated Financial
In conjunction with our audit of the Consolidated Financial the Institute of Chartered Accountants of India. initiated, authorized, processed, recorded, and
Statements, whether due to fraud or error.
Statements of the Company as of and for the year ended reported at departmental level.
March 31, 2024, we have audited the internal financial controls We believe that the audit evidence we have obtained and Other Matters
the audit evidence obtained by the other auditors in terms
d. In case of WCL:
with reference to the financial statements of Coal India
Limited (hereinafter referred as “the Holding Company”), and of their reports referred to in the “Other Matters” paragraph 1. As reported by the statutory auditors of the respective i. Adopting the changes with respect to the
it’s subsidiaries(the Holding Company and its subsidiaries below, is sufficient and appropriate to provide a basis for our companies, improvements are required in respect Indian Accounting Standards in the financial
Statutory Reports
together referred to as “the Group”), and Joint Ventures and audit opinion on the Group and it’s Joint Ventures’ internal of the following: reporting framework;
we have considered for our reporting for this purpose such financial controls system with reference to the consolidated a. in case of Holding Company: ii. Documentation in respect of its risk
reports of the auditors of its subsidiaries, which are companies financial statements. assessment process; and
i. The documentation of Internal Financial
incorporated in India, as of that date.
Controls pertaining to the risk assessment iii. Risk analysis of different functional areas and
Meaning of Internal Financial Controls with process, risk analysis of different functional incorporating the detailed risk control matrix
Management’s Responsibility for Internal reference to Consolidated Financial Statements areas and incorporating the process flows at and process flows including identifying the
Financial Controls departmental levels including risk mitigations;
A Company’s internal financial control with reference to significant account balances of expenses,
The respective Board of Directors of the Holding Company, the financial statements is a process designed to provide ii. Obtaining independent confirmations and income, assets and liabilities including the fixed
its subsidiaries and Joint Ventures incorporated in India are reasonable assurance regarding the reliability of financial consequential reconciliation with respect to assets accounting, incorporating the process
responsible for establishing and maintaining internal financial reporting and the preparation of financial statements for flow by which the aforesaid transactions are
certain debit/credit balances including trade
controls based on the internal financial controls with reference external purposes in accordance with generally accepted receivables, other current and non-current initiated, authorized, processed, recorded, and
to Consolidated Financial Statements criteria established accounting principles. A Company’s internal financial control assets, trade payables, other financial liabilities reported at departmental level.
by the respective companies considering the essential with reference to the financial statements includes those and other current and non-current liabilities as 2. Our aforesaid report under Section 143(3)(i) of the Act
components of internal control stated in the Guidance Note policies and procedures that (1) pertain to the maintenance stated in Note 16.7(e); and on the adequacy and operating effectiveness of the
on Audit of Internal Financial Controls over Financial reporting of records that, in reasonable detail, accurately and fairly
iii. Complete reconciliation in respect of the internal financial controls with reference to the financial
(the “Guidance Note”) issued by the Institute of Chartered reflect the transactions and dispositions of the assets of the
disclosures and ensuring completeness statements, in so far as it relates to ten subsidiaries
Accountants of India. These responsibilities include the Company; (2) provide reasonable assurance that transactions
with respect to MSME vendors, liability for which are companies incorporated in India, is based
design, implementation and maintenance of adequate internal are recorded as necessary to permit preparation of financial
interest thereon as per MSME Act, Income tax on the corresponding reports of the auditors of such
financial controls that were operating effectively for ensuring statements in accordance with generally accepted accounting
computations as such need to be ascertained. companies incorporated in India. Financial Statements
the orderly and efficient conduct of its business, including principles, and that receipts and expenditures of the Company
of one subsidiary and three Joint Ventures are unaudited
adherence to Company’s policies, the safeguarding of its are being made only in accordance with authorizations of b. In case of CMPDIL:
and no report in this respect has been provided to us for
assets, the prevention and detection of frauds and errors, the management and directors of the Company; and (3) provide i. The documentation of Internal Financial our consideration. Financial Statement of one of the Joint
accuracy and completeness of the accounting records, and reasonable assurance regarding prevention or timely Controls pertaining to the risk assessment Venture has not been considered for consolidation.
the timely preparation of reliable financial information, as detection of unauthorized acquisition, use, or disposition of process, risk analysis of different functional
required under the Act. the Company’s assets that could have a material effect on the Our opinion is not qualified in respect of the matters reported
areas and incorporating the process flows at
financial statements. in para (1) and (2) above.
departmental levels including risk mitigations
Auditors’ Responsibility in respect of insurance coverage;
Our responsibility is to express an opinion on the internal Inherent Limitations of Internal Financial
ii. Strengthening of the monitoring of controls in
financial controls with reference to financial statements of the Controls with reference to Consolidated Financial
respect of miscellaneous expenses; and
Group and its Joint Ventures incorporated in India based on Statements
our audit. We conducted our audit in accordance with the iii. Confirmation/ reconciliation/adjustment of
Because of the inherent limitations of internal financial
Guidance Note on Audit of Internal Financial Controls with other financial assets, other current and non-
controls with reference to the financial statements, including
reference to the financial statements (the “Guidance Note”) current assets, trade payables and receivables, For Lodha & Co LLP
the possibility of collusion or improper management override
and the Standards on Auditing, issued by ICAI and deemed other financial liabilities and other current and Chartered Accountants
of controls, material misstatements due to error or fraud may
to be prescribed under section 143(10) of the Companies non-current liabilities. Firm’s ICAI Registration Number: 301051E/E300284
occur and not be detected. Also, projections of any evaluation
Act, 2013, to the extent applicable to an audit of internal of the internal financial controls with reference to the financial c. In case of SECL:
financial controls, both issued by the Institute of Chartered statements to future periods are subject to the risk that i. Adopting the changes with respect to the
Accountants of India. Those Standards and the Guidance Note the internal financial control with reference to the financial Sd/-
Indian Accounting Standards in the financial
require that we comply with ethical requirements and plan statements may become inadequate because of changes in R. P. Singh
reporting framework;
and perform the audit to obtain reasonable assurance about conditions, or that the degree of compliance with the policies (Partner)
whether adequate internal financial controls with reference to or procedures may deteriorate. ii. Documentation in respect of its risk Place: Kolkata Membership No. 052438
the financial statements was established and maintained and if assessment process; and Date: 2nd May, 2024 UDIN: 24052438BKFNDU7829
such controls operated effectively in all material respects. Opinion
Our audit involves performing procedures to obtain audit According to the information and explanations given to us,
evidence about the adequacy of the internal financial controls and based on our audit and based on the consideration of
system with reference to the financial statements and their the report of other auditors on Internal Financial controls with
operating effectiveness. Our audit of internal financial reference to financial statements of subsidiary companies and
controls with reference to the financial statements included it’s Joint Ventures, which are companies incorporated in India,
obtaining an understanding of internal financial controls in our opinion, the group and its Joint Ventures have generally
with reference to the financial statements, assessing the risk maintained, in all material respects, an adequate internal
that a material weakness exists, and testing and evaluating financial controls with reference to the financial statements
232 233
Corporate Overview
Subsidiary wise coal offtake Subsidiary wise details of Trade Receivables
Company-wise target vis-à-vis actual off-take for 2023-24 and 2022-23 are shown below: -
(H in crore)
(Fig. in MT) Trade Receivables As on 31.03.2024 Trade Receivables As on 31.03.2023
Company
2023-24 2022-23 Growth over last year Gross Net of Allowance Gross Net of Allowance
Company
Target Achieved % Achieved Achieved Abs. % ECL 2388.22 1892.15 1930.34 1564.50
ECL 51.00 43.75 86% 35.51 8.24 23.2% BCCL 1750.72 1333.25 1613.55 1251.15
BCCL 41.00 39.19 96% 35.53 3.66 10.3% CCL 1978.53 1716.73 3381.56 3001.17
NCL 2545.67 2227.97 2567.58 2471.34
Statutory Reports
CCL 84.00 82.91 99% 75.02 7.89 10.5%
NCL 135.00 137.63 102% 133.51 4.12 3.1% WCL 3973.11 3221.20 3307.35 3089.80
WCL 68.00 70.25 103% 62.15 8.10 13.0% SECL 2015.62 704.16 1287.77 42.03
SECL 197.00 180.60 92% 160.03 20.57 12.9% MCL 2266.23 2160.29 1679.72 1636.92
MCL 204.00 199.02 98% 192.75 6.27 3.3% NEC/CIL 11.17 - 14.74 3.57
NEC 0.00 0.17 - 0.18 -0.01 -7.5% Total 16,929.27 13,255.75 15,782.61 13,060.48
CIL 780.00 753.52 96% 694.68 58.83 8.5%
Annexure 9
Annexure 6
Sector-wise dispatch of coal & coal products Subsidiary wise Statutory Levies paid during
FY 2023-24 (H in crore)
(Fig. in MT)
Company 2023-24 2022-23 Growth over Last Year Com- MADHYA CHHATT- WEST JHAR- MAHAR- UTTAR ARUNACHAL
Particular ODISHA ASSAM DELHI Total
pany PRADESH ISGARH BENGAL KHAND ASHTRA PRADESH PRADESH
Sector Target Despatch % Satn. Actual Abs. %
Royalty - - 16.79 388.78 - - - - - 405.57
Power (Util)# 610.00 619.70 102% 586.58 33.12 5.6%
Addnl Royalty under - - - - - - - - - -
Steel * 4.99 3.27 66% 3.28 -0.01 -0.2%
MMDR Act
Cement 7.39 4.05 55% 3.49 0.56 16.2% -DMF - - 4.90 131.43 - - - - - 136.33
Fertilizer 1.36 0.80 59% 0.66 0.14 21.1% -NMET - - 0.33 7.95 - - - - - 8.28
Others 156.26 126.24 81% 101.12 25.12 24.8% Goods and Service - - - - - - - - - -
Despatch** 780.00 754.07 97% 695.13 58.94 8.5% Tax:
-CGST - - 7.86 49.75 - - - - - 57.61
#
Power house despatches include despatches under e-auction to Power.
ECL -SGST - - 7.86 49.75 - - - - - 57.61
* Despatch of washed coking coal & raw coking coal to steel plants -IGST - - 82.90 0.29 - - - - - 83.19
GST Compensation - - 1,112.04 568.32 - - - - - 1,680.36
Cess
Annexure 7 Cess on coal - - 1,747.48 - - - - - - 1,747.48
Central Sales Tax - - - - - - - - - -
Subsidiary wise details of Stock of Coal

State Sales Tax / VAT - - - - - - - - - -
Others - - 0.02 45.97 - - - - - 45.99
Total - - 2,980.18 1,242.24 - - - - - 4,222.42
Royalty - - - 1,807.66 - - - - - 1,807.66
Addnl Royalty under - - - - - - - - - -
Net Value of stock of Net Value of stock of Stock in terms of no. of months MMDR Act
-DMF - - - 539.52 - - - - - 539.52
Company Coal as on 31.03.2024 Coal as on 31.03.2023 Net Sales
-NMET - - - 36.39 - - - - - 36.39
(J In Crores) (J In Crores) As on 31.03.2024 As on 31.03.2023 Goods and Service - - - - - - - - - -
ECL 808.09 313.76 0.70 0.25 Tax:
-CGST - - 0.04 227.13 - - - - - 227.17
BCCL 1264.42 934.46 1.15 0.91
BCCL -SGST - - 0.04 230.13 - - - - - 230.17
CCL 1146.75 965.24 0.90 0.76 -IGST - - 0.02 3.65 - - - - - 3.67
NCL 261.82 432.45 0.14 0.24 GST Compensation - - 1.08 1,572.52 - - - - - 1,573.60
WCL 1423.78 1525.31 1.04 1.30 Cess
SECL 1583.33 1157.03 0.76 0.66 Cess on coal - - 5.61 - - - - - - 5.61
MCL 1021.11 757.55 0.51 0.33 Central Sales Tax - - - 53.55 - - - - - 53.55
State Sales Tax / VAT - - - - - - - - - -
CIL (Consolidated) 7545.95 6105.11 0.69 0.57
Others - - - 68.03 - - - - - 68.03
Total - - 6.79 4,538.58 - - - - - 4,545.37
234 235
Com- MADHYA CHHATT- WEST JHAR- MAHAR- UTTAR ARUNACHAL Com- MADHYA CHHATT- WEST JHAR- MAHAR- UTTAR ARUNACHAL
Corporate Overview
Particular ODISHA ASSAM DELHI Total Particular ODISHA ASSAM DELHI Total
pany PRADESH ISGARH BENGAL KHAND ASHTRA PRADESH PRADESH pany PRADESH ISGARH BENGAL KHAND ASHTRA PRADESH PRADESH
Royalty - - - 2,120.22 - - - - - 2,120.22 Royalty - - - - - - 3,183.53 - - 3,183.53
Addnl Royalty under - - - - - - - - - - Addnl Royalty under - - - - - - - - - -
MMDR Act MMDR Act
-DMF - - - 637.18 - - - - - 637.18 -DMF - - - - - - 929.85 - - 929.85
-NMET - - - 45.24 - - - - - 45.24 -NMET - - - - - - 61.82 - - 61.82
Goods and Service - - - - - - - - - - Goods and Service - - - - - - - - - -
Tax: Tax:
-CGST - - - 315.37 - - - - - 315.37 -CGST - - - - - - 378.00 - - 378.00
CCL -SGST - - - 315.37 - - - - - 315.37 MCL -SGST - - - - - - 378.00 - - 378.00
-IGST - - - 0.03 - - - - - 0.03 -IGST - - - - - - 0.97 - - 0.97
GST Compensation - - - 3,319.02 - - - - - 3,319.02 GST Compensation - - - - - - 7,879.50 - - 7,879.50
Statutory Reports
Cess Cess
Cess on coal - - - - - - - - - - Cess on coal - - - - - - - - - -
Central Sales Tax - - - - - - - - - - Central Sales Tax - - - - - - - - - -
State Sales Tax / VAT - - - 68.49 - - - - - 68.49 State Sales Tax / VAT - - - - - - - - - -
Others - - - 571.31 - - - - - 571.31 Others - - - - - - 10.66 - - 10.66
Total - - - 7,392.23 - - - - - 7,392.23 Total - - - - - - 12,822.33 - - 12,822.33
Royalty 2,354.04 - - - - 606.12 - - - 2,960.16 Royalty - - - - - - - - - -
MMDR Act MMDR Act
-DMF 706.29 - - - - 180.34 - - - 886.63 -DMF - - - - - - - - - -
-NMET 47.09 - - - - 12.49 - - - 59.58 -NMET - - - - - - - - - -
Tax: Tax:
-CGST 277.03 - - - - 76.73 - - - 353.76 -CGST 18.94 25.03 8.02 28.03 12.44 - 11.47 - - 103.93
NCL -SGST 277.03 - - - - 76.73 - - - 353.76 CMPDIL -SGST 18.94 25.03 8.02 30.03 12.44 - 11.47 - - 105.93
-IGST 0.47 - - - - 4.54 - - - 5.01 -IGST 9.48 13.19 4.39 37.89 5.12 - 0.93 - - 71.00
GST Compensation 4,668.37 - - - - 850.18 - - - 5,518.55 GST Compensation - - - - - - - - - -
Cess Cess
Central Sales Tax - - - - - - - - - - Central Sales Tax - - - - - - - - - -
State Sales Tax / VAT - - - - - - - - - - State Sales Tax / VAT - - - - - - - - - -
Others 977.82 - - - - 88.56 - - - 1,066.38 Others - - - - - - - - - -
Total 9,308.14 - - - - 1,895.69 - - - 11,203.83 Total 47.36 63.25 20.43 95.95 30.00 - 23.87 - - 280.86
Royalty 93.77 - - - 2,261.68 - - - - 2,355.45 Royalty - - - - - - - 16.07 - 16.07
MMDR Act MMDR Act
-DMF 28.13 - - - 661.80 - - - - 689.93 -DMF - - - - - - - 4.82 - 4.82
-NMET 1.88 - - - 44.12 - - - - 46.00 -NMET - - - - - - - 0.32 - 0.32
Tax: Tax:
-CGST 14.31 - - - 246.56 - - - - 260.87 -CGST - - 4.16 - - - - 2.66 0.04 0.07 6.93
WCL -SGST 14.31 - - - 246.56 - - - - 260.87 CIL -SGST - - 4.16 - - - - 2.66 0.04 0.07 6.93
-IGST 0.22 - - - 1.89 - - - - 2.11 -IGST - - 167.87 - - - - - 0.08 167.95
GST Compensation 98.06 - - - 2,715.03 - - - - 2,813.09 GST Compensation - - (0.02) - - - - 6.09 0.44 6.51
Cess Cess
Central Sales Tax (0.09) - - - - - - - - -0.09 Central Sales Tax - - - - - - - - - -
State Sales Tax / VAT (0.09) - - - - - - - - -0.09 State Sales Tax / VAT - - - - - - - - - -
Others 48.54 - - - - - - - - 48.54 Others - - - - - - - 1.03 - 1.03
Total 299.04 - - - 6,177.64 - - - - 6,476.68 Total - - 176.17 - - - - 33.65 0.60 0.14 210.56
Royalty 404.79 2,843.84 - - - - - - - 3,248.63 Royalty 2,852.60 2,843.84 16.79 4,316.66 2,261.68 606.12 3,183.53 16.07 - 16,097.29
MMDR Act MMDR Act
-DMF 119.20 874.25 - - - - - - - 993.45 -DMF 853.62 874.25 4.90 1,308.13 661.80 180.34 929.85 4.82 - 4,817.71
-NMET 8.62 60.46 - - - - - - - 69.08 -NMET 57.59 60.46 0.33 89.58 44.12 12.49 61.82 0.32 - 326.71
Tax: Tax:
-CGST 53.85 386.92 0.16 - - - - - - 440.93 -CGST 364.13 411.95 20.24 620.28 259.00 76.73 389.47 2.66 0.04 0.07 2,144.57
SECL -SGST 53.85 386.92 0.16 - - - - - - 440.93 Overall -SGST 364.13 411.95 20.24 625.28 259.00 76.73 389.47 2.66 0.04 0.07 2,149.57
-IGST 0.89 0.96 - - - - - - - 1.85 -IGST 11.06 14.15 255.18 41.86 7.01 4.54 1.90 - 0.08 335.78
GST Compensation 463.33 6,708.67 - - - - - - - 7,172.00 GST Compensation 5,229.76 6,708.67 1,113.10 5,459.86 2,715.03 850.18 7,879.50 6.09 0.44 29,962.63
Cess Cess
Cess on coal - - - - - - - - - - Cess on coal - - 1,753.09 - - - - - - 1,753.09
Central Sales Tax - - - - - - - - - - Central Sales Tax (0.09) - - 53.55 - - - - - 53.46
State Sales Tax / VAT - - - - - - - - - - State Sales Tax / VAT (0.09) - - 68.49 - - - - - 68.40
Others 111.13 565.52 - - - - - - - 676.65 Others 1,137.49 565.52 0.02 685.31 - 88.56 10.66 1.03 - 2,488.59
Total 1,215.66 11,827.54 0.32 - - - - - - 13,043.52 Total 10,870.20 11,890.79 3,183.89 13,269.00 6,207.64 1,895.69 12,846.20 33.65 0.60 0.14 60,197.80
236 237
Annexure 10 Annexure 10A
Corporate Overview
Subsidiary-wise Coal Production Subsidiary-wise Washed Coal (Coking)
(In Mill Te) Production
Coking Non-Coking Total (in lakh Tonne)
Company
2023-24 2022-23 2023-24 2022-23 2023-24 2022-23 Washed Coking Coal
Company
ECL 0.012 0.007 47.548 35.011 47.560 35.018 2023-24 2022-23
BCCL 39.109 33.716 1.987 2.463 41.096 36.179
BCCL 14.62 14.34
CCL 21.060 20.554 64.994 55.534 86.054 76.087
CCL 7.96 7.22
NCL 0.000 0.000 136.148 131.169 136.148 131.169
CIL 22.59 21.55
Statutory Reports
WCL 0.036 0.094 69.077 64.189 69.113 64.283
SECL 0.216 0.247 187.160 166.759 187.376 167.006
MCL 0.000 0.000 206.099 193.262 206.099 193.262
NEC 0.000 0.000 0.200 0.200 0.200 0.200
CIL 60.433 54.618 713.214 648.586 773.647 703.204 Annexure 10B
Subsidiary-wise Overburden Removal

Production of custodian mine, Gare Palma IV/2&3 is added to SECL (subsidiary of CIL) during 2022-23 and thus CIL. The mine was
handed over by SECL on 28.06.2023 and the production of 2023-24, before the handing over, was added to SECL/CIL.
Production from Underground and (In Mill CUM)
Opencast Mines
Company 2023-24 2022-23
ECL 170.283 133.128
BCCL 152.859 114.474
The company wise production from Underground, Opencast mines is as under CCL 121.334 106.581
(In Mill Te) NCL 511.867 467.533
Underground Opencast Total WCL 407.694 325.613
Company
2023-24 2022-23 2023-24 2022-23 2023-24 2022-23 SECL 321.185 263.389
ECL 9.183 8.968 38.377 26.050 47.560 35.018 MCL 276.489 245.964
BCCL 0.766 0.686 40.331 35.493 41.096 36.179 NEC 2.433 1.946
CCL 0.781 0.863 85.273 75.225 86.054 76.087 CIL 1964.144 1658.627
NCL 0.000 0.000 136.148 131.169 136.148 131.169
WCL 2.871 2.887 66.242 61.396 69.113 64.283
SECL 11.964 11.642 175.412 155.364 187.376 167.006
MCL 0.456 0.441 205.643 192.820 206.099 193.262
NEC 0.000 0.000 0.200 0.200 0.200 0.200
CIL 26.021 25.487 747.626 677.717 773.647 703.204
238 239
Corporate Overview
Population of Equipment Status of Project Implementation
(in Nos)
No. of Equipment Indicated as % of CIL Norm a) Projects Completed During the Year 2023-24
Equipment As on As on Availability Utilization
1.4.2024 1.4.2023 2023-24 2022-23 2023-24 2022-23 S Name of the Sanctioned Sanctioned Completion
Subsidiary Type
Dragline 26 27 96 97 99 103 N Projects Capacity (MTY) Capital (J Crs) Capital (J Crs)
Shovel 617 625 103 97 64 69 1 NCL Jayant Expn. OCP OC 20 1783.09 1871.24
Dumper 2471 2514 119 116 60 65 (10 to 20 Mty)
Dozer 912 937 111 107 52 48 Total 20.00 1783.09 1871.24
Statutory Reports
Drill 558 586 114 109 55 49
b) Projects Started Production During the Year 2023-24
Subsidiary Wise Major HEMM Population As S

Subsidiary Name of the Projects Type
Sanctioned Sanctioned Production
On 01.04.2024
N Capacity (MTY) Capital (J Crs) (in MT)
1 ECL Itapara OC OC 3.50 929.10 0.172
2 WCL Sharda UG UG 0.51 166.25 0.0345
(in Nos) 3 WCL Amalgamated Dhankasa UG 1.84 399.20 0.00008
EQUIPMENT ECL BCCL CCL NCL WCL SECL MCL CIL Jamunia UG
DRAGLINE 1 1 0 23 0 1 0 26 4 MCL Siarmal OCP OC 50.00 5194.95 7.24
SHOVEL 56 80 105 108 123 70 75 617 Total 55.85 6689.50 7.44658
DUMPER 172 299 343 517 337 485 318 2471
DOZER 82 89 174 162 142 136 127 912
a) Mining Projects sanctioned by CIL Board during FY-2023-24
DRILL 46 76 104 136 69 65 62 558
TOTAL 357 545 726 946 671 757 582 4584 S Date of Sanctioned Sanctioned
Subsidiary Project Type
N Approval Capacity (MTY) Capital (J Crs)
1 MCL UCE of Balabhadra OCP OC 19.04.2023 10.00 978.44
2 MCL UCE of Integrated Kulda OC 19.04.2023 40.00 4421.71
Annexure 12 Garjanbahal OCP
3 WCL PR for Gauri Central OCP OC 08.08.2023 7.00 1015.07
Subsidiary wise details of Capital

4 ECL PR for Itapara OCP OC 29.12.2023 3.50 929.10
5 ECL Chuperbhita Simlong OCP OC 29.12.2023 6.00 979.08
Expenditures
6 CCL RPR of Sanghamitra OCP OC 29.12.2023 20.00 2660.20
7 WCL RPR of Amalgamated OC 26.03.2024 9.00 1428.25
Gauri Pauni Expn. OCP
(H in crore)
8 BCCL PR of Block E OCP OC 26.03.2024 15.00 6478.77
FY 2023-24 FY 2022-23 9 MCL PR of Bhubaneswari OCP OC 26.03.2024 50.00 6321.73
Company
BE Actual# BE Actual Sub Total (a) – 9 Nos 160.50 25212.35
ECL 1250.00 1468.89 1220.00 1132.84
BCCL 1000.00 1237.31 900.00 999.18
CCL 2050.00 3758.12 1925.00 2443.27 b) Mining Projects sanctioned by Subsidiary Company Boards during FY-2023-24
NCL 2150.00 4727.24 1900.00 2222.94
S Date of Sanctioned Sanctioned
WCL 1000.00 2383.61 900.00 1067.88 Subsidiary Project Type
N Approval Capacity (MTY) Capital (J Crs)
SECL 5100.00 5015.25 4650.00 4856.58
MCL 3500.00 3839.80 3800.00 3932.78 1 CCL Govindpur Ph-II OCP OC 27.06.2023 2.50 349.94
CMPDIL 35.00 35.19 40.00 42.97 2 ECL Bansra UG UG 19.10.2023 0.54 5.18
CIL Standalone* 415.00 1010.00 1165.00 1920.83 3 WCL Gadegaon OCP OC 28.10.2023 3.00 497.41
Total 16500.00 23475.41 16500.00 18619.27 4 CCL Angwali OCP OC 22.01.2024 0.40 72.29
5 SECL Jhiria West OC OC 30.01.2024 1.50 366.94
*It includes H 853.04 crore in FY 2023-24 for CIL's Share in CAPEX of JVs.
# It includes H 3,699.73 Crores capitalized as Stripping Activity Assets in the Note- “Property, Plant and Equipment” due to change in accounting policy.
6 ECL CL Jambad Expansion OCP OC 25.01.2024 1.00 114.62
7 WCL RPR of Waghoda UG UG 29.01.2024 1.02 468.96
Sub Total (b) – 7 Nos 9.96 1875.34
Total (a+b) – 16 Nos 170.46 27087.69
240 241
Non-Mining Projects sanctioned by CIL and Subsidiary Company Boards 2023-24 Table-3: Cause-wise Fatalities in CIL for the year 2023
Corporate Overview
(in Nos)
S Date of Sanctioned Cause ECL BCCL CCL NCL WCL SECL MCL Total
Subsidiary Project
N Approval Capital (J Crs) Dumper 1 3 0 0 0 0 3 7
A. Non-Mining Projects sanctioned by CIL Board -2023-24 Tipper 0 0 1 1 0 1 3 6
1 MCL Rail infrastructure at Talcher Coalfields, MCL 08.08.2023 662.23 Fall of person & Object 1 0 1 1 1 1 0 5
Sub Total (A) – 01 nos 662.23 Non-Transport M/c 0 0 1 0 1 0 1 3
B. Non-Mining projects sanctioned by Subsidiary Company Board -2023-24 Roof / side fall 1 0 0 0 0 1 0 2
1 WCL 35 MW Solar Power Plant, Majri Area, Wani, Chandrapur 23.02.2024 242.65 Haulage 2 0 0 0 0 0 0 2
2 MCL DPR of 20 MW Ground Mounted Solar Power Plant at Jagannath and 30.11.2023 138.92 Gas, Dust, Fire 0 2 0 0 0 0 0 2
Lakhanpur area Electricity 0 0 0 0 0 0 1 1
3 MCL Construction of 16.5 Mty CHP on Pre-engineered turnkey execution basis 14.07.2023 363.42 Part OB Bench Failure 0 0 1 0 0 0 0 1
Statutory Reports
for coal evacuation arrangement (12.5 Mty) from Kulda Garjanbahal Mine Misc. 0 1 0 0 0 0 0 1
by pipe/ trough conveyor to Sardega CHP (U/C), construction of 4 Mty Total 4 6 4 2 2 3 8 29
ATLS for road Sale at Integrated Kulda Garjanbahal OCP of Basundhara
Area
Table-4: Place-wise Fatalities in CIL for the year 2023
4 BCCL 20 MW Solar Power Plant, Dugdha Washery 23.06.2023 138.02 (in Nos)
Sub Total (B) – 04 nos 883.01 Company UG OC Surface Total
Total (A+B) – Non Mining - 05 Nos. 1545.24
ECL 3 0 1 4
BCCL 0 6 0 6
CCL 0 2 2 4
NCL 0 2 0 2
Annexure 14
WCL 0 2 0 2
SECL 1 0 2 3
Safety Performance: MCL
CIL
0
4
6
18
2
7
8
29
Table: 1 - Comparative Accidents Statistics of CIL of 5 Yearly Average since 1975

Table-5: Cause-wise Serious Injuries in CIL for the year 2023
Av. Fatal Accidents Av. Serious Accidents Av. Fatality Rate Av. Serious Injury Rate (in Nos)
Time frame Accident Fatalities Accident Injuries Per 3 Lac Per Per 3 Lac Cause ECL BCCL CCL NCL WCL SECL MCL TOTAL
Per Mill. Te
in No in No in No in No Manshifts Mill. Te Manshifts Fall of person 2 3 0 4 0 5 1 15
1975-79 157 196 1224 1278 2.18 0.44 14.24 14.24 Fall of object 1 1 0 0 0 1 0 3
1980-84 122 143 1018 1065 1.29 0.30 9.75 9.75 Non-transport m/c 0 0 0 2 0 3 0 5
1985-89 133 150 550 571 0.98 0.30 3.70 3.70 Haulage 1 0 0 0 0 0 0 1
1990-94 120 145 525 558 0.694 0.30 2.70 2.70 Conveyor 0 0 0 0 0 1 0 1
1995-99 98 124 481 513 0.50 0.29 2.06 2.06 Misc. 0 0 0 6 0 0 0 6
2000-04 68 82 499 526 0.28 0.22 1.80 1.80 Dumper 0 0 0 1 1 0 3 5
2005-09 60 80 328 339 0.22 0.25 0.92 0.92 Tipper 0 0 0 3 0 0 0 3
2010-14 56 62 219 228 0.138 0.23 0.49 0.49 Roof / side fall 2 0 0 0 2 0 0 4
2015-19 33 43 107 112 0.08 0.18 0.19 0.19 Explosive 0 0 0 0 0 2 0 2
2020- 23 25 27 56 63 0.04 0.12 0.10 0.10 Total 6 4 0 16 3 12 4 45
Note: Subject to reconciliation with DGMS & Accident Statistics are maintained calendar year-wise in conformity with DGMS practice
Table-6: Place-wise Serious Injuries in CIL for the year 2023
(in Nos)
Table-2: Subsidiary-wise Accident Statistics of CIL for the year 2023 Company UG OC Surface Total
Fatal Serious Serious Fatality Rate Serious Injury Rate ECL 5 1 0 6

Fatalities BCCL 2 1 1 4
Company Accidents Accidents Injuries in Per 3 lac Per Per 3 lac
in No Per Mill. Te CCL 0 0 0 0
in No in No No manshifts Mill. Te manshifts
NCL 0 12 4 16
ECL 4 4 3 6 0.10 0.10 0.15 0.15
WCL 2 1 0 3
BCCL 5 6 4 4 0.15 0.24 0.10 0.16
SECL 6 4 2 12
CCL 4 4 0 0 0.05 0.17 0.00 0.00
MCL 0 4 0 4
NCL 2 2 12 16 0.02 0.08 0.12 0.67
CIL 16 24 7 45
WCL 2 2 3 3 0.03 0.04 0.04 0.06
SECL 3 3 11 12 0.02 0.10 0.07 0.41
MCL 6 8 1 4 0.04 0.25 0.02 0.13
CIL 26 29 34 45 0.04 0.13 0.06 0.21
Note: Accident Statistics are maintained calendar year wise in conformity with DGMS practice & figures subject to
reconciliation with DGMS
242 243
Annexure 15 11) Travelling allowance (Journey fare) is paid to Disabilities. The welfare expenditure incurred by
Corporate Overview
the attendant/escort accompanying a disabled CIL and its subsidiaries in 2023-24 in respect of its
Subsidiary wise Manpower employee during travel while on tour/training. employees are as follows:
Further, as per the provisions of the Right of Persons

Year Amount (in crores)
(fig. in Nos.) with Disabilities 2016, under Sec 34 reservation
2023-24 2,467.85
As on As on is being provided to the persons with benchmark
Company
01.04.2023 01.04.2024 disabilities of 1 % each under clause (a), (b), and (C)
and 1% for persons with benchmark disabilities (ii) Allocation under various schemes for the
ECL 51074 48711
BCCL 37037 33920 under clauses (d) & (e) namely: benefit of persons with disabilities, the
CCL 34975 33990 amount released and the amount utilized.
(a) Blindness and low vision
WCL 34390 33352
Statutory Reports
There is no separate budget allocated for persons
SECL 41965 39641 (b) Deaf and hard of hearing with disabilities. However, the amount spent in
MCL 21827 21493
welfare activities is for all the employees of CIL
NCL 13753 13770 (c) Locomotor disability including cerebral palsy,
including for Persons with Disabilities, wherein
CMPDIL 2855 2751 leprosy, cured, dwarfism, acid attack victims,
priority is given to Divyangjans.
CIL HQ 667 648 and muscular dystrophy;
(iii) The number of beneficiaries with disabilities
NEC(under CIL HQ) 667 585
Total (CIL as a whole) 239210 228861 (d) Autism, intellectual disability, specific learning and their percentage in relation to the total
disability and mental illness; number of beneficiaries
At CIL & its subsidiaries, there are 822 Divyang
A) Staff strength vis-a-vis number of employees belonging to SCs, STs and Divyangan at various levels (e) Multiple disability from amongst persons under
employees out of total 231058 employees as on
of posts in the hierarchy of CIL. Have CIL identified certain posts in your Company which can be held clauses (a) to (d) including deaf-blindness in
01.01.24. In CIL & its subsidiaries, amount spent
by respective category of persons with benchmark disabilities. the posts identified for each disability.
in welfare activities is for all the employees of CIL
Representation of SCs/STs/OBCs (as on 01.01.24) including for Persons with Disabilities, wherein
The amount spent in welfare activities is for all
the employees of CIL including for Persons with priority is given to Divyangjans.
Total No. of
Company SCs STs Divyangan
Employees
CIL & its subsidiaries 231058 44601 33143 822
CIL has also a list of identified posts for both Executives and Non-Executives for persons with benchmark disabilities.
(B) (i). Various activities and the policy decisions 6) Preference in allotment of Residential
taken for implementation of the RPWD Act, Accommodation.
2016 during Financial Year & information
about the total, budget provision for 7) Providing Aids/ Assistive Devices – Assistive
implementation of the RPWD .Act- Devices (Including Low Vision Aids, hearing
Aids with Battery), Special furniture, wheel
In accordance with the provisions of The Right of chairs (Motorized if Required by the
People with Disabilities Act, 2016 and The Rights employee), Computer and other Hardware for
of People with Disabilities Rules, 2017, a policy use in connection with their work to improve
named CIL Equal Opportunity Policy has been their efficiency.
framed by CIL to ensure that all facility, technology,
information and privileges are accessible to people 8) Liaison Officer to look after reservation matters
with disabilities. Salient Features of CIL equal relating to persons with disability.
Opportunity policy is given below
9) Grievance redressal officer for looking after the
1) Facility and Amenities – Physical and digital grievances of people with disabilities.
infrastructure to the accessibility standard as
per requirement. 10) Accessibility and barrier free
environment at work place:
2) Identification of List of positions.
a) Ramps at entrance
3) Post Recruitment and Pre promotion Training.
b) Railings
4) Preference in place of posting during
transfer / Promotion. c) Accessible toilets
5) Provision for Special Casual Leave as per d) Wheel chairs

the provision of RPWD. ACT 2016 and
e) Lifts/Elevators
DPE Guidelines.
244 245
Annexure 16
LOANS AND ADVANCES, GUARANTEES,
Corporate Overview
LOANS AND ADVANCES, GUARANTEES, INVESTMENTS BY COAL INDIA LTD.
INVESTMENTS BY COAL INDIA LTD. (Disclosure as per section 186(4) of Companies Act, 2013)
(H in crore)
(Disclosure as per section 186(4) of Companies Act, 2013) For CIL Standalone For CIL Consolidated
Purpose
As at 31.03.2024 As at 31.03.2024
(H in crore) B. Current Loans and Advances
For CIL Standalone For CIL Consolidated a. Loans
Purpose
As at 31.03.2024 As at 31.03.2024 Loans to body corporate and
A. Non-Current Loans and employees
Statutory Reports
Advances - Secured, considered good - 2.02 As a part of employee benefit measure
Loans to body corporate and - Unsecured, considered good 19.57
employees TOTAL (a) - 21.59
- Secured, considered good 0.02 16.48 As a part of employee benefit measure b. Other financial assets
- Unsecured, considered good - 87.21 Loan to Railway Deptt by CERL Current Asset
subsidiary of SECL Security Deposit 0.73 1.03
- Credit impaired 1.87 2.15 Current Account with - For transactions with subsidiaries
1.89 105.84 Subsidiaries 937.73 relating to Apex Charges, Rehabilitation
Less: Allowance for doubtful 1.87 0.02 2.15 103.69 Less : Allowance for doubtful 53.83 883.90 - - Charges and other transactions
balances with Subsidiaries
loans
Deferred Asset on Non Interest 255.02 Balance with IICM 5.37 4.76 For transaction with Training Instiute
Bearing Advance IICM.
TOTAL (a) 0.02 358.71 Interest accrued 277.77 1,226.43 Interest accrued on Investment, Bank
b. Other Financial Assets deposit etc.
Non Current Other Deposit and Receivables 16.22 1,535.05 Mainly includes claim receivable from
Security Deposit 3.10 553.20 Security Deposit for P&T, Electricity etc. customers, recoverable income tax
Less : Allowance for doubtful - 3.10 22.46 530.74 refund, amount recoverable from
Security deposits contractors ,customers & suppliers,
Bank Deposits with more than 12 0.14 357.60 Deposit of surplus fund Interest receivable on Shifting and
months maturity Rehabilitation Fund,etc
Deposit in Bank under Mine 83.00 12,066.37 Deposit in Mine closure escrow fund Less : Allowance for doubtful 3.47 12.75 68.76 1,466.29
Closure Plan as per requirement of Mine closure deposits & receivables
guidelines issued by Ministry of Coal TOTAL (b) 1,180.52 2,698.51
Deposit in Bank under Shifting & 4,958.45 4,958.45 Deposit in shifting and rehabilitation c. Other current assets
Rehabilitation Fund scheme fund Advance payment of statutory - 1,519.43 As per requirement of various Statutory
Other Deposit and Receivables 37.65 101.29 Claims etc. receivable from outsiders. dues Acts
Less : Allowance for doubtful - 37.65 3.76 97.53 Less : Allowance for doubtful - - 0.04 1,519.39
deposits & receivables Statutory dues
Total (b) 5,082.34 18,010.69 Advance to Related Parties (R&D 132.35 Advances to CMPDIL for R&D and other
c. Other Non-Current Assets with CMPDIL) fund
(i) Capital Advances 47.18 8,264.29 For procurement of assets for the Other Advances and Deposits Recoverable Advance to employees,
company 289.12 18,816.68 Advance against various miscellaneous
Less : Allowance for doubtful 0.04 47.14 7.42 8,256.87 expenses, Payment under protest for
advances Income tax, commercial tax etc.
(ii) Advances other than capital Less : Allowance for doubtful 2.27 286.85 43.26 18,773.42
advances other depsoits and advances
Other Deposits and Advances - 123.88 Security Deposit for obtaining day to Progressive Mine Closure 0.46 604.16 Receivable from escrow fund for
Less : Allowance for doubtful - - 5.16 118.72 day services and for procurement of Expenses incurred expenditure incurred on progressive
other deposits and advances misc. items and other services etc. mine closure activities.
Progressive Mine Closure - 5,343.67 Receivable from escrow fund for Input Tax Credit receivable 78.75 14,282.91 Input Tax Credit to be utilised/refund
Expenses incurred expenditure incurred on progressive under GST Act
mine closure activities. TOTAL (c) 498.41 35,179.88
TOTAL (C) 47.14 13,719.26 Total (a+b+c) 1,678.93 37,899.98
Total (a+b+c) 5,129.50 32,088.66
246 247
Corporate Overview
For CIL Standalone For CIL Consolidated For CIL For CIL
Company
As at 31.03.2024 As at 31.03.2024 Standalone Consolidated
Company Purpose
C. GUARANTEES As at As at
a. The Oustanding balance of subsidiaries Eastern Coalfields Limited and 31.03.2024 31.03.2024
Mahanadi Coalfields Limited to the extent of their obligations under (c) Equity Shares in Joint Venture Companies (Unquoted)
loans (principal and interest) made to Export Development Corporation, International Coal Venture Private Limited , New Delhi 2.80 7.75 JV for acquisition of coking coal
Canada and Natixis Banque as on 31.03.2024 are: properties abroad
Export Development Corporation, Canada 157.99 157.99 CIL NTPC Urja Private Limited , New Delhi 0.08 0.09 JV for setting up a joint
Natixis Banque, Paris 3.95 3.95 integrated power plants along
b. Bank guarantee 0.00 5453.49 with mining of coal
Statutory Reports
TOTAL(C) 161.94 5615.43 Talcher Fertilizers Limited, Bhubaneswar, Orissa 805.48 794.54 JV for revival of Talcher unit of
FCIL
Hidustan Urvarak & Rasayan Limited, Kolkata 2642.99 3055.45 JV for revival of Sindri,
(H in crore) gorakhpur fertiliser unit of FCIL
For CIL For CIL and Barauni unit of HFCL.
Standalone Consolidated Coal Lignite Urja Vikas Private Limited, New Delhi 0.01 1.40 JV for power generation mainly
Company Purpose
As at As at through renewable sources.
31.03.2024 31.03.2024 Total (c) 3,451.36 3,859.23
D. INVESTMENTS Grand Total (a+b+c) (1) 14,170.94 3,859.31
1. Non Current Investments(Unquoted) 2. Current
a. Investment in Co-operative shares (Unquoted) Management participation Mutual Fund Investment Investment of surplus fund in
"B" class shares in Coal Mines Officers Cooperative Credit - 0.05 SBI Mutual Fund - Overnight 29.03 429.41 various securities
SBI Mutual Fund - Ultra Magnum - 1,365.57
Society Ltd.
SBI Mutual Fund - Liquid Fund - 1,353.33
"D" class shares in Dishergarh colly Worker's central co- - 0.01
Canara Robeco Mutual Fund 1.30 14.46
opt store Ltd.
Union KBC Mutual Fund 0.98 44.12
Mugma coalfield colly Worker's central co-opt store Ltd - 0.01
Bank of Baroda Mutual Fund 3.98 44.21
"B" class shares in Sodepur colly Employee's co-opt credit - 0.005
Investments in Secured Bonds (quoted) - -
society Ltd.
Total (2) 35.29 3,251.10
"B" class shares in Dhenomain colly. Employees' co-opt - 0.005
Total (1 + 2) 14,206.23 7,110.41
credit society Ltd.
Total (a) - 0.08
Investment in Equity Instruments
(b) Equity Shares in Subsidiary Companies Strategic Investment in wholly
owned subsidiary
Eastern Coalfields Limited (Sanctoria , West Bengal ) 4269.42 -
Central Coalfields Limited (Ranchi , Jharkhand ) 940.00
Bharat Coking Coal Limited (Dhanbad, Jharkhand) 4657.00 -
Western Coalfields Limited (Nagpur , Maharastra) 297.10 -
Central Mine Planning & Design Institute Limited 19.04 -
(Ranchi , Jharkhand)
Northern Coalfields Limited (Singrauli, Madhya Pradesh ) 126.19 -
South Eastern Coalfields Limited (Bilaspur, Chattisgarh) 278.36 -
Mahanadi Coalfields Limited (Sambalpur, Orissa) 132.37 -
Coal India Africana Limitada (Moatize, Mozambique) 0.53 -
Less: Provision for impairment -0.53
CIL Solar PV Limited (Kolkata, West Bengal) 0.05 -
CIL Navikarniya Urja Limited (Kolkata, West Bengal) 0.05 -
Total (b) 10,719.58 -
248 249
Annexure 17
250
Statement pursuant to first proviso to sub-section (3) of section 129 read
with rule 5 of Companies (Accounts) rules, 2014 as at 31st March, 2024
Form AOC1
(Persuant to first proviso to sub-section (3) of section 129 read with rule 5 of Companies (Accounts) Rules, 2014)
Statement containing salient features of the financial statement of subsidiaries/associate companies/joint ventures
To the consolidated financial statement for the year ended 31st March, 2024.
Part "A": Subsidiaries
H in Crores except entry in Sl. No 11
The date Total
Profit Provision Profit After Other Compre- % of
Sl. since when Share Reserves Total Total Invest- Share of compr-
Name of Subsidiary Turnover Before for Taxation hensive Income Share-
No. subsidiary was Capital & Surplus Assets Liabilities ments Minority hensive
Taxation Taxation e.t.c. (Net of Tax) holding
acquired1 Income
Indian Subsidiaries
1 Eastern Coalfields Limited 01-11-1975 4269.42 (1291.78) 17935.93 17935.93 0.08 18999.97 213.49 (38.10) - 251.59 (94.20) 157.39 100.00
2 Bharat Coking Coal Limited 01-01-1972 4657.00 664.72 14727.72 14727.72 266.52 17600.81 2091.67 527.21 - 1564.46 (46.64) 1517.82 100.00
3 Central Coalfields Limited 05-09-1956 1880.00 11713.42 26783.91 26783.91 308.72 23341.82 4729.90 1068.85 0.91 3661.05 (8.85) 3652.20 100.00
4 Northern Coalfields Limited 28-11-1985 2523.76 12851.78 38724.93 38724.93 684.04 34424.76 10843.63 2525.50 - 8318.13 (72.70) 8245.43 100.00
5 Western Coalfields Limited 29-10-1975 297.10 6155.24 21726.16 21726.16 0.25 23281.12 4181.67 936.24 - 3245.43 (32.81) 3212.62 100.00
6 South Eastern Coalfields Limited 28-11-1985 668.06 13691.74 53026.72 53026.72 742.00 38904.85 9047.98 2170.51 (34.25) 6877.47 (59.11) 6818.36 100.00
7 Mahanadi Coalfields Limited 03-04-1992 1323.67 14700.91 50687.79 50687.79 1214.28 37200.78 15589.92 3748.37 0.18 11841.55 (42.10) 11799.45 100.00
8 Central Mine Planning & Design 01-11-1975 142.80 1467.68 2171.37 2171.37 - 2041.36 732.84 229.61 - 503.23 (10.27) 492.96 100.00
Institute Limited
9 CIL Navikarniya Urja Limited 16-04-2021 0.05 (0.01) 0.04 0.04 - - - - - 100.00
10 CIL Solar PV Limited 16-04-2021 0.05 (0.01) 0.05 0.05 - - (0.01) - (0.01) 100.00
Foreign Subsidiary
11 Coal India Africana Limitada2&3 10-08-2009 53.13 (5419.76) 64.51 64.51 - - 2.69 - - 2.69 2.69 100.00
(Mozambique) (Reporting
Currency - MZN ) (H in Lacs)
Note
1 Date of incorporation of subsidiaries has been considered

2 Exchange rate as on 31.03.2024: 1 MZN = H 1.3069628
3 CIL Solar PV Limited is yet to commence operations
4 On 20th June 2023, the Board of Directors of the holding company (Coal India Limited) approved the closure of Coal India Africana Limitada, Mozambique, subject to approval from Government of India. The subsidiary
was not in operation.
Sd/- Sd/- Sd/- Sd/-

(Sunil Kumar Mehta) (B P Dubey) (Mukesh Agrawal) (P M Prasad)
Executive Director (Finance) Company Secretary Director (Finance) & CFO Chairman- Cum-Managing Director & CEO
DIN- 10199741 DIN-08073913
Note-

No.
Venture
2.
1.
influence
consolidated
Extent of Holding%
Name of Joint Ventures
associated or acquired
7. Profit/(Loss) for the year

company on the year end
i. Considered in Consolidation2
1. Latest audited Balance Sheet Date
ii. Not Considered in Consolidation

as per latest audited Balance Sheet
5. Reason why the Joint venture is not
3. Shares of Joint Ventures held by the
2. Date on which the Joint Venture were
4. Description of how there is significant
6. Networth attributable to Shareholding
Sd/-
Sd/-
Amount of Investment in Associates/Joint
(P M Prasad)
DIN-08073913
(Sunil Kumar Mehta)

Executive Director (Finance)
By virtue of
0.02
0.08
agreement
50.00
0.08
76900
27-04-2010
31.03.2024
Limited
Urja Private
CIL NTPC
NA
NA
Chairman- Cum-Managing Director & CEO

Talcher Fertilizers Limited is yet to commence operation.
To the consolidated financial statement for the year ended 31st March, 2024.
By virtue of
0.00
4.83
agreement
0.19
2.80
2800000
20-05-2009
31.03.2023
Private Limited
Coal Ventures
International
NA
NA
audited financial statements of FY 2023-24 have been considered.

Part "B": Associates and Joint Ventures
By virtue of
(14.76)
797.18
agreement
33.33
805.48
805480826
13-11-2015
31.03.2023
Limited
Fertilizers
Talcher
NA
NA
Sd/-
Sd/-
(B P Dubey)
DIN- 10199741
By virtue of
441.50
2431.43
agreement
33.33
2642.99
2295955000
15-06-2016
31.03.2023
Rasayan Limited
Urvarak &
Hindustan
NA
NA
(Mukesh Agrawal)
Company Secretary
Director (Finance) & CFO
Statement persuant to Section 129 (3) of the Companies Act, 2013 related to Associate Companies and Joint Ventures
By virtue of
0.07
1.31
agreement
50.00
0.01
10000
10-11-2020
31.03.2023
Private Limited
Urja Vikas
Coal Lignite
NA
NA
2023-24 of the above Joint ventures have been considered, except for CIL NTPC Urja Private Limited for which
251
In preparation for the Financial Statements for FY 2023-24, management-certified Financial Statements for FY
Financial Statements Statutory Reports Corporate Overview

Annexure 18 We have examined compliance with the applicable clauses 1. Composition of the Board of Directors of the
Corporate Overview
Secretarial Audit Report as per Companies Act 2013 and of the following: Company
Secretarial Audit Report of Material Subsidiaries and (i) Secretarial Standards issued by the Institute of Company As per the provisions of Section 149 of the Act and
Regulation 17(1) of the Listing Regulations, the Company
Secretaries of India;
Management explanation. did not have a Woman Independent Director on its Board
(ii) Securities and Exchange Board of India (Listing Obligations from 1st April, 2023 to 31st March, 2024 for which requisite
Mehta & Mehta INFINITY BENCHMARK, 18TH FLOOR, ROOM
and Disclosure Requirements) Regulations, 2015; letters has been submitted by the management from time
Company Secretaries NO. 105, STREET NO. 25, GP BLOCK, SECTOR-5,
to time to Ministry of Coal.
BIDHANNAGAR, KOLKATA- 700091. (iii) Other laws specifically applicable to the Company namely:
Email : [email protected] We further report that all the changes in the composition
a) The Coal Mines Act, 1952 of the Board of Directors during the Audit Period, except
the aforesaid, were made in due compliance of the various
Statutory Reports
FORM MR-3 b) Indian Explosives Act, 1884
provisions of the Act and DPE Guidelines on Corporate
c) Colliery Control Order, 2000 and Colliery Governance for Listed CPSE.
SECRETARIAL AUDIT REPORT
Control Rules, 2004
FOR THE FINANCIAL YEAR ENDED 31st MARCH, 2024
Adequate notices are given to all Directors to schedule the
d) The Coal Mines Regulations, 2017
{Pursuant to Section 204(1) of the Companies Act, 2013 and rule 9 of the Companies Board / Committee Meetings, agenda and detailed notes on
(Appointment and Remuneration of Managerial Personnel) Rules, 2014} e) The Payment of Wages (Mines) Rules, 1956 agenda were sent at least seven days in advance and a system
To, exists for seeking and obtaining further information and
f) Coal Mines Pension Scheme, 1998
The Members, clarifications on the agenda items before the meeting and for
COAL INDIA LTD g) Coal Mines Conservation and Development Act, 1974 meaningful participation at the meeting.
Coal Bhawan, Premises No-04-Mar, Plot-AF-III Action Area h) The Mines Vocational Training Rules, 1966
We further report that there are adequate systems and
-1A, New Town Rajarhat, Kolkata, West Bengal, India, 700156
i) The Mines Creche Rules, 1961 processes in the company commensurate with the size and
We have conducted the secretarial audit of the compliance (v) The following Regulations and Guidelines prescribed operations of the company to monitor and ensure compliance
j) The Mines Rescue Rules, 1985
of applicable statutory provisions and the adherence to good under the Securities and Exchange Board of India Act, with applicable laws, rules, regulations and guidelines.
corporate practices by M/s. COAL INDIA LTD (A CSPE under 1992 ('SEBI Act'):- k) Coal Mines Pithead Bath Rules, 1946
We further report that during the financial year 2023-24.
control of MoC, GOI) (hereinafter called "the Company").
(a) The Securities and Exchange Board of India l) Maternity Benefit (Mines and Circus) Rules, 1963
Secretarial audit was conducted in a manner that provided 1) The Company at its Annual General Meeting held on
us a reasonable basis for evaluating the corporate conduct / (Substantial Acquisition of Shares and Takeovers) m) The Explosives Rules, 2008
August 23, 2023 declared final dividend of 40 % i.e.
statutory compliance and expressing our opinion thereon. Regulations, 2011;
n) Mineral Concession Rules, 1960 H 4 per equity share of face value of H 10 each i.e. H
(b) The Securities and Exchange Board of India 2,46,50,913,308 crores for the Financial Year 2022-2023.
Based on our verification of the Company's books, papers, o) Coal Mines Provident Fund and Miscellaneous
minutes books, forms and returns filed and other records (Prohibition of Insider Trading) Regulations, 2015;
Provisions Act, 1948 2) The Board of Directors of the Company have declared
maintained by the Company and also the information following interim dividend for the F.Y 2023-24:-
(c) The Securities and Exchange Board of India p) Mines and Minerals (Development and
provided by the Company, its officers, agents and authorized
(Issue of Capital and Disclosure Requirements) Regulation) Act, 1957
representatives during the conduct of secretarial audit, we (i) 1st interim dividend at 152.50 % i.e. H 15.25 per
Regulations, 2018;
hereby report that in our opinion, the Company has, during the q) The Payment of Undisbursed Wages equity share of face value of H 10 each amounting
audit period covering the financial year ended on March 31, (d) The Securities and Exchange Board of India (Mines) Rules, 1989 to H 93,98,17,81,217/- was declared in the meeting
2024, complied with the statutory provisions listed here under (Issue and Listing of Non-Convertible Securities) held on 10th November, 2023.
r) Indian Electricity Act, 2003 and the Indian
and also that the Company has proper Board processes and Regulations, 2021 (during the period under
Electricity Rules, 1956 (ii) 2nd interim dividend at 52.50 % i.e. H 5.25 per equity
compliance mechanism in place to the extent, in the manner review not applicable to the company);
and subject to the reporting made hereinafter: s) Environment Protection Act, 1986 and Environment share of face value of H 10 each amounting to H
(e) The Securities and Exchange Board of India (Share Protection Rules, 1986 32,35,45,20,675/- was declared in the meeting held
We have examined the books, papers, minute books, forms and Based Employee Benefits and Sweat Equity) on 12th February, 2024.
returns filed and other records maintained by the Company Regulations, 2021 (during the period under t) The Hazardous and Other Wastes (Management
for the financial year ended on March 31, 2024, according to review not applicable to the company); and Transboundary Movement) Rules, 2016
For Mehta & Mehta,
the provisions of: u) The Water (Prevention & Control of Pollution)Act, Company Secretaries
(f) The Securities and Exchange Board of India (ICSI Unique Code P1996MH007500)
1974 and Rules made thereunder
(i) The Companies Act, 2013 ('the Act') and the rules (Registrars to an Issue and Share Transfer Agents)
made thereunder; Regulations, 1993 regarding the Companies Act v) The Air (Prevention & Control of Pollution) Act, 1981 Sd/-
and dealing with client; Raveena Dugar Agarwal
(ii) The Securities Contracts (Regulation) Act, 1956 ('SCRA') w) Public Liability Insurance Act,1991 and Rules
made thereunder. Partner
and the rules made there under; (g) The Securities and Exchange Board of India ACS No: 51836
(Delisting of Equity Shares) Regulations, 2021 CP No: 26055
(iii) The Depositories Act, 1996 and the Regulations and Bye- During the period under review the Company has complied
(during the period under review not applicable Place: Kolkata UDIN: A051836F000632075
laws Framed there under; with the provisions of Act, Rules, Regulations, Guidelines etc.
to the Company); Date: 28.06.2024 PR No.: 3686/2023
(iv) Foreign Exchange Management Act, 1999 and the We further report that:
(h) The Securities and Exchange Board of India (Buyback
rules and regulations made thereunder to the extent of During the Audit Period, the Company has complied with Note: This report is to be read with our letter of even date
of Securities) Regulations, 2018 (during the period
Foreign Direct Investment, Overseas Direct Investment the provisions of the Act, Rules, Regulations, Guidelines, etc. which is annexed as 'ANNEXURE A' and forms an integral part
under review not applicable to the Company);
and External Commercial Borrowings; mentioned above except to the extent as mentioned below: of this report.
252 253
Annexure A Mehta & Mehta INFINITY BENCHMARK, 18TH FLOOR, ROOM
Corporate Overview
Company Secretaries NO. 105, STREET NO. 25, GP BLOCK, SECTOR-5,
BIDHANNAGAR, KOLKATA- 700091.
To,
The Members, Tel.: +91 9867771580
COAL INDIA LTD GOVT OF INDIA UNDERTAKING Email : [email protected]
Coal Bhawan, Premises No-04-Mar, Plot- AF-III Action Area FORM MR-3
-1A, New Town Rajarhat, Kolkata, West Bengal, India, 700156
Our report of even date is to be read along with this letter. FOR THE FINANCIAL YEAR ENDED 31st MARCH, 2024
{Pursuant to Section 204(1) of the Companies Act, 2013 and rule 9 of the Companies
1) Maintenance of secretarial record is the responsibility of the management of the Company. Our responsibility is to express
(Appointment and Remuneration of Managerial Personnel) Rules, 2014}
an opinion on these secretarial records based on our audit.
To,
Statutory Reports
2) We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness The Members,
of the contents of the secretarial records. The verification was done on test basis to ensure that correct facts are reflected in EASTERN COALFIELDS LIMITED,
secretarial records. We believe that the processes and practices we followed provide a reasonable basis for our opinion. CMDs Office, Sanctoria,
P.O. – Dishergarh,
3) We have not verified the correctness and appropriateness of financial records and Books of Accounts of the Company. Dist. – Paschim Bardhaman,
West Bengal, Pin-713333
4) Wherever required, we have obtained the Management representation about the compliance of laws, rules and regulations
(a) The Securities and Exchange Board of India
and happening of events etc. We have conducted the secretarial audit of the compliance
(Substantial Acquisition of Shares and Takeovers)
of applicable statutory provisions and the adherence to good
5) The compliance of the provisions of corporate laws, rules, regulations, standards is the responsibility of management. Our Regulations, 2011 (during the period under
corporate practices by Eastern Coalfields Limited (hereinafter
examination was limited to the verification of procedures on test basis. review not applicable to the company);
called "the Company"). Secretarial audit was conducted in a
manner that provided us a reasonable basis for evaluating the (b) The Securities and Exchange Board of India
6) As regard the books, papers, forms, reports and returns filed by the Company under the provisions referred to in our Secretarial
corporate conduct /statutory compliance and expressing our (Prohibition of Insider Trading) Regulations, 2015;
Audit Report in Form MR-3 the adherence and compliance to the requirements of the said regulations is the responsibility of
opinion thereon.
management. Our examination was limited to checking the execution and timeliness of the filing of various forms, reports, (c) The Securities and Exchange Board of India (Issue of
returns and documents that need to be filed by the Company with various authorities under the said regulations. We have Based on our verification of the Company's books, papers, Capital and Disclosure Requirements) Regulations,
not verified the correctness and coverage of the contents of such forms, reports, returns and documents. minutes books, forms and returns filed and other records 2018 (during the period under review not
maintained by the Company and also the information provided by applicable to the company);
7) The secretarial audit report is neither an assurance as to the future viability of the Company nor of the efficacy or effectiveness the Company, its officers, agents and authorized representatives
with which the management has conducted the affairs of the Company. (d) The Securities and Exchange Board of India
during the conduct of secretarial audit, we hereby report that in
(Issue and Listing of Non-Convertible Securities)
our opinion, the Company has, during the audit period covering
Regulations, 2021 (during the period under
the financial year ended on March 31, 2024, complied with the
review not applicable to the company);
For Mehta & Mehta, statutory provisions listed here under and also that the Company
Company Secretaries has proper Board processes and compliance mechanism in (e) The Securities and Exchange Board of India (Share
(ICSI Unique Code P1996MH007500) place to the extent, in the manner and subject to the reporting Based Employee Benefits and Sweat Equity)
made hereinafter: Regulations, 2021 (during the period under
Raveena Dugar Agarwal review not applicable to the company);
Partner We have examined the books, papers, minute books, forms and
ACS No: 51836 returns filed and other records maintained by the Company (f) The Securities and Exchange Board of India
CP No: 26055 for the financial year ended on March 31, 2024, according to (Registrars to an Issue and Share Transfer Agents)
Place: Kolkata UDIN: A051836F000632075 the provisions of: Regulations, 1993 regarding the Companies Act
Date: 28.06.2024 PR No.: 3686/2023 and dealing with client (during the period under
(i) The Companies Act, 2013 ('the Act') and the rules review not applicable to the Company);
made thereunder;
(g) The Securities and Exchange Board of India
(ii) The Securities Contracts (Regulation) Act, 1956 ('SCRA') (Delisting of Equity Shares) Regulations, 2021
Observation of Secretarial Auditor & and the rules made there under (during the period (during the period under review not applicable
Management Explanation under review not applicable to the company); to the Company);
(iii) The Depositories Act, 1996 and the Regulations and (h) The Securities and Exchange Board of India (Buyback
Bye-laws Framed there under (during the period under of Securities) Regulations, 2018 (during the period
S. under review not applicable to the Company);
Observations of Secretarial Auditor Management Explanation review not applicable to the company);
No
We have examined compliance with the applicable clauses
1. As per the provisions of Section 149 of the Act As per the Articles of Association of the Company, Coal India being a (iv) Foreign Exchange Management Act, 1999 and the rules
of the following:
and Regulation 17(1) of the Listing Regulations, CPSE, the power to appoint Director vests with Govt. of India. Company and regulations made thereunder to the extent of Foreign
the Company did not have a Woman has taken up the matter with Ministry of Coal, the Administrative Ministry Direct Investment. (i) Secretarial Standards issued by the Institute of Company
Independent Director on its Board from 1st April, even before vacancy arose as well as subsequent to the vacancy to Secretaries of India;
2023 to 31st March, 2024 for which requisite arrange to appoint a Woman Independent Director to comply with SEBI (v) The following Regulations and Guidelines prescribed
letters has been submitted by the management (LoDR) regulations 2015. The Company is actively pursuing with MoC for under the Securities and Exchange Board of India Act, (ii) Securities and Exchange Board of India (Listing
from time to time to Ministry of Coal. appointment of one Women Independent Director. 1992 ('SEBI Act'):- Obligations and Disclosure Requirements) Regulations,
254 255
2015 (during the period under review not applicable 149(4) of the Act and the Clause 3.1.2 of DPE Guidelines Annexure A
Corporate Overview
to the Company); on Corporate Governance for Central Public Sector
Enterprise (CPSE) issued by the Department of Public
(iii) Other laws specifically applicable to the Company namely : To,
Enterprises (DPE) during the period under review. As the
The Members,
appointment was done by the Ministry of Coal, requisite
a) The Coal Mines Act, 1952 EASTERN COALFIELDS LIMITED,
letters were sent for appointment of the Independent
CMDs Office, Sanctoria,
b) Indian Explosives Act, 1884 Directors by the management from time to time to
P.O. – Dishergarh,
Ministry of Coal with copy to its Holding Company.
c) Colliery Control Order, 2000 and Colliery Dist. - PaschimBardhaman,
Control Rules, 2004 2. Composition of the Audit Committee of the Board Pin-713333, West Bengal
d) The Coal Mines Regulations, 2017 of Directors of the Company Our report of even date is to be read along with this letter.
The requisite number of Independent Directors were
Statutory Reports
e) The Payment of Wages (Mines) Rules, 1956
not on the Audit Committee as contemplated in Section 1) Maintenance of secretarial record is the responsibility of the management of the Company. Our responsibility is to express
f) Coal Mines Pension Scheme, 1998 177 of the Companies Act, 2013 and Clause 4.1.1 of the an opinion on these secretarial records based on our audit.
g) Coal Mines Conservation and Development Act, 1974 DPE Guidelines for Corporate Governance on CPSE,
2) We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness
during the period under review due to non-availability of
h) The Mines Vocational Training Rules, 1966 of the contents of the secretarial records. The verification was done on test basis to ensure that correct facts are reflected in
Independent directors on the Board.
secretarial records. We believe that the processes and practices we followed provide a reasonable basis for our opinion.
i) The Mines Creche Rules, 1961
We further report that all the changes in the composition
3) We have not verified the correctness and appropriateness of financial records and Books of Accounts of the Company.
j) The Mines Rescue Rules, 1985 of the Board of Directors during the Audit Period, except
the aforesaid, were made in due compliance of the various 4) Wherever required, we have obtained the Management representation about the compliance of laws, rules and regulations
k) Coal Mines Pithead Bath Rules, 1946
provisions of the Act and DPE Guidelines on Corporate
and happening of events etc.
l) Maternity Benefit (Mines and Circus) Rules, 1963 Governance for CPSE.
5) The compliance of the provisions of corporate laws, rules, regulations, standards is the responsibility of management. Our
m) The Explosives Rules, 2008
Adequate notices are given to all Directors to schedule the examination was limited to the verification of procedures on test basis.
n) Mineral Concession Rules, 1960 Board / Committee Meetings, agenda and detailed notes on
agenda were sent at least seven days in advance and a system 6) As regard the books, papers, forms, reports and returns filed by the Company under the provisions referred to in our Secretarial
o) Coal Mines Provident Fund and Miscellaneous Audit Report in Form MR-3 the adherence and compliance to the requirements of the said regulations is the responsibility of
exists for seeking and obtaining further information and
Provisions Act, 1948 management. Our examination was limited to checking the execution and timeliness of the filing of various forms, reports,
clarifications on the agenda items before the meeting and for
p) Mines and Minerals (Development and meaningful participation at the meeting. returns and documents that need to be filed by the Company with various authorities under the said regulations. We have
Regulation) Act, 1957 not verified the correctness and coverage of the contents of such forms, reports, returns and documents.
Majority decision is carried through while the dissenting
q) The Payment of Undisbursed Wages members’ views are captured and recorded as part 7) The secretarial audit report is neither an assurance as to the future viability of the Company nor of the efficacy or effectiveness
(Mines) Rules, 1989 of the minutes. with which the management has conducted the affairs of the Company.
r) Indian Electricity Act, 2003 and the Indian
We further report that there are adequate systems and
Electricity Rules, 1956
processes in the company commensurate with the size and
s) Environment Protection Act, 1986 and Environment operations of the company to monitor and ensure compliance
Protection Rules, 1986 with applicable laws, rules, regulations and guidelines. For Mehta & Mehta,
t) The Hazardous and Other Wastes (Management Company Secretaries
We further report that during the audit period the Company
and Transboundary Movement) Rules, 2016 (ICSI Unique Code P1996MH007500)
did not had any specific event, having a major bearing on the
u) The Water (Prevention & Control of Pollution)Act, Company’s affairs in pursuance of the above referred laws,
1974 and Rules made thereunder rules, regulations, guidelines, standards, etc.
Raveena Dugar Agarwal
Partner
v) The Air (Prevention & Control of Pollution) Act, 1981
ACS No: 51836
w) Public Liability Insurance Act,1991 and Rules CP No: 26055
For Mehta & Mehta,
made thereunder. Place: Kolkata UDIN: A051836F000533746
Company Secretaries
(ICSI Unique Code P1996MH007500) Date: 05.06.2024 PR No.: 3686/2023
During the period under review the Company has complied
with the provisions of Act, Rules, Regulations, Guidelines etc.
We further report that: Raveena Dugar Agarwal

Partner
During the Audit Period, the Company has complied with
ACS No: 51836
the provisions of the Act, Rules, Regulations, Guidelines, etc.
CP No: 26055
mentioned above except to the extent as mentioned below:
Place: Kolkata UDIN: A051836F000533746
1. Composition of the Board of Directors of the Date: 05.06.2024 PR No.: 3686/2023
Company
Note: This report is to be read with our letter of even date
The requisite number of Independent Directors were not which is annexed as 'ANNEXURE A' and forms an integral part
on the Board of the Company as contemplated in Section of this report.
256 257
Management Reply to the Secretarial Audit Report – 2023-24 of ECL J. K. DAS & ASSOCIATES PlotNo.883, Bijan Kanan
Corporate Overview
Company Secretaries Bansdroni, Kolkata-700096,
Sl. Tel:24102892/93 (M):9831204082
Observation Management Reply
No. Email: [email protected]
1. The requisite number of Independent Directors were not on the Board of It is a statement of fact. Web: www.jkdasassociates.com
the Company as contemplated in Section 149(4) of the Act and the Clause Appointment of Directors in ECL is being done FORM MR-3
3.1.2 of DPE Guidelines on Corporate Governance for Central Public by Ministry of Coal, Govt. of India.
Sector Enterprise (CPSE) issued by the Department of Public Enterprises SECRETARIAL AUDIT REPORT
(DPE) during the period under review. As the appointment was done by FOR THE FINANCIAL YEAR ENDED 31st MARCH, 2024
the Ministry of Coal, requisite letters were sent for appointment of the
Independent Directors by the management from time to time to Ministry {Pursuant to Section 204(1) of the Companies Act, 2013 and rule 9 of the Companies
of Coal with copy to its Holding Company. (Appointment and Remuneration of Managerial Personnel) Rules, 2014}
Statutory Reports
2. The requisite number of Independent Directors were not on the Audit It is a statement of fact.
Committee as contemplated in Section 177 of the Companies Act, 2013 To,
Appointment of Directors in ECL is being done
and Clause 4.1.1 of the DPE Guidelines for Corporate Governance The Members
by Ministry of Coal, Govt. of India.
on CPSE, during the period under review due to non-availability of M/s. Mahanadi Coalfields Limited
Independent Directors on the Board. Jagruti Vihar Burla,
Sambalpur-768020
Orissa, India
We have conducted the secretarial audit of the compliance (v) The Regulations and Guidelines prescribed under
of applicable statutory provisions and the adherence to good the Securities and Exchange Board of India Act,
corporate practices by M/s. Mahanadi Coalfields Limited 1992 (‘SEBI Act’)
(CIN: U10102OR1992GOI003038) (hereinafter called the
Company). Secretarial Audit was conducted in accordance (a) The Securities and Exchange Board of India
to the CSAS-4-Auditing Standard on Secretarial Audit (Prohibition of Insider Trading Regulations) 2015,
issued by the Institute of Company Secretaries of India (the
(b) The Securities and Exchange Board of India
ICSI) that provided us a reasonable basis for evaluating the
(Listing Obligations and Disclosure Requirements)
corporate conducts/statutory compliances and expressing our
Regulations, 2015
opinion thereon.
(vi) Corporate Governance Guidelines issued by
Based on our verification of the books, papers, minute books,
Department of Public Enterprises vide their OM. No.
forms and returns filed and other records maintained by the
18(8)/2005-GMdated 14th May, 2010;
Company and also the information provided by the Company,
its officers, agents and authorized representatives during the We report that, having regard to the compliance system
conduct of secretarial audit, the explanations and clarification prevailing in the Company and on examination of the relevant
given to us and the representation made by the management, documents and records in pursuance thereof, on test-check
We hereby report that in our opinion, the Company has, basis and a quarterly compliance report on all applicable laws
during the audit period covering the financial year ended on placed before MCL Board on regular basis, the Company
31stMarch, 2024, complied with the statutory provisions listed has complied with the following laws applicable specifically
hereunder and also that the Company has proper Board- to the Company:
processes and compliance-mechanism in place to the extent,
in the manner and subject to the reporting made hereinafter: 1. The Coal Mines Act,1952
We have examined the books, papers, minute books, forms and 2. Indian Explosives Act, 1884
returns filed and other records maintained by the Company
3. Colliery Control Order, 2000 and Colliery
for the financial year ended on 31st March, 2024, according to
Control Rules,2004
the provisions of:
4. The Coal Mines Regulations,2017
(i) The Companies Act, 2013 (the Act) and the Rules
made there under; 5. The Payment of Wages (Mines) Rules,1956
(ii) The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) 6. Coal Mines Pension Scheme,1998
and the Rules made there under;
7. Coal Mines Conservation and Development Act,1974
(iii) The Depositories Act, 1996 and the Regulations and Bye-
laws framed there under; 8. The Mines Vocational Training Rules,1966
(iv) Foreign Exchange Management Act, 1999 and the Rules 9. The Mines Crèche Rules,1961
and Regulations made there under to the extent of
Foreign Direct Investment, Overseas Direct Investment 10. The Mines Rescue Rules,1985
and External Commercial Borrowings;
11. Coal Mines Pithead Bath Rules,1946
258 259
12. Maternity Benefit (Mines and Circus) Rules,1963 majority and recorded in the minute book maintained for divided into 1,39,58,200 (One Crore Thirty Nine Lakh Fifty Director of the Company in place of Shri Keshav Rao w.e.f
Corporate Overview
the purpose as per the provisions of the Act. Eight Thousand Two Hundred) equity shares of H 1000 19.12.2023. Further, Shri Keshav Rao, Director (Personnel),
13. The Explosives Rules,2008 each and 20,41,800 (Twenty Lakh Forty One Thousand MCL took over the additional charge of Chairman-cum-
(C) HOLDING OF ANNUAL GENERAL MEETING: Eight Hundred) 10% Cumulative Redeemable Preference Managing Director of the Company in place of Shri O. P.
14. Mineral Concession Rules,1960
During the financial year under review, the 31st Annual Shares of H 1000 each, ranking pari passu with the existing Singh w.e.f 01.11.2023.
15. Coal Mines Provident Fund and Miscellaneous General Meeting of the company for the FY 2022-23 was shares in the Company.
held on Dt. 25.07. 2023. (L) APPOINTMENT OF NON-OFFICIAL PART-TIME
Provisions Act,1948
(I) DECLARATION OF DIVIDEND: INDEPENDENT DIRECTOR
16. Mines and Minerals (Development and The AGM was held at a shorter notice and consent of During the financial year under review, the Company has During the financial year under review, with approval of
Regulation) Act,1957 all the members of the Company were obtained as per declared & paid 1st Interim Dividend amounting to H 5500 the president of India Shri Rajesh Kumar Verma and Shri
provisions of the Act. A system exists for seeking and Crores (i.e. H 8,310.21 per equity share) on 66,18,363 no. Dayashankar C Tiwari were appointed as non-official part
17. The Payment of Undisbursed Wages (Mines) Rules,1989 obtaining further information and clarifications on the of equity shares of H 1,000/- each to Coal India Ltd (CIL) time Independent directors on the board of directors of
Statutory Reports
agenda items before the meeting and for meaningful (the Holding Company) out of current year’s estimated MCL for a period of three years with effect from the date
18. Indian Electricity Act, 2003 and the Indian
participation at the meeting. profit after tax up to September 2023 in respect of of notification of the appointment or until further orders
Electricity Rules,1956
Financial Year 2023-24. whichever is earlier.
(D) MAINTENANCE OF STATUTORY REGISTERS &
19. Environment Protection Act, 1986 and Environment
RECORDS: The Company has declared & paid 2nd Interim Dividend We further report that based on the information provided
Protection Rules,1986
During the financial year under review, all the Statutory amounting to H 2000.00 Crores(i.e. H 1510.95 per equity by the Company during the Audit Period and also
20. The Hazardous and Other Wastes (Management and Registers, Records and other Registers as prescribed share) on 1,32,36,726 no. of equity shares of H 1,000/- on the review of quarterly compliance reports by the
Trans boundary Movement) Rules, 2016 under various Provisions of the Companies Act, 2013; the each to Coal India Ltd (CIL) (the Holding Company) out of concerned department taken on record by the Board
Depositories Act, 1996 and the Rules made there under current year’s estimated profit after tax up to December of Directors of the Company, in our opinion, adequate
21. The Water (Prevention & Control of Pollution)Act, 1974
2023 in respect of Financial Year 2023-24. systems and processes and control mechanisms exist in
were kept and maintained properly with all necessary
and Rules made there under
entries made therein. commensurate with its size and operations, to monitor
Company has complied with required process under and ensure compliance with applicable general laws,
22. The Air (Prevention & Control of Pollution) Act,1981
(E) FILING OF STATUTORY FORMS & RETURNS AS PER Companies Act, 2013, Rules made there under. rules, regulations and guidelines
23. Public Liability Insurance Act, 1991 and Rules COMPANIES ACT, 2013:
(J) RE-CONSTITUTION OF SUB-COMMIITTEES OF MCL We further report that as informed, the company has
made there under. During the financial year under review, various forms and BOARD responded appropriately to notices received from various
returns as per the provisions of the Companies Act, 2013
During the Audit Period, the Company has generally complied The company has the following Statutory statutory/regulatory authorities including initiating actions
were duly filed with MCA/Registrar of Companies within
with the provisions of the Act, Rules, Regulations, Guidelines, Committees of the Board. for corrective measures, wherever found necessary.
the prescribed time limit or in the extended time along
etc. mentioned above. As regards certain Corporate
with the requisite fees. i. Audit Committee We further report that as per explanations and
Governance provisions, the Company being a Central PSU, the
regulatory framework applicable to Government Companies management representations obtained and relied upon
(F) COMPLIANCE WITH APPLICABLE LAWS, RULES, ii. Corporate Social Responsibility & Sustainability
is designed to ensure compliances in respect of matters by us, during the audit period there is no such specific
REGULATIONS & GUIDELINES: Development (CSRSD) Sub-Committee
pertaining to appointment, evaluation and succession of events/actions having major bearing on the Company’s
During the financial year under review and explanations affairs had taken place.
directors, quarterly/ annual grading of CPSE on the compliance iii. Nomination and Remuneration Sub-Committee
provided by the Management of the Company adequate
of DPE Corporate Governance norms. The submission of
systems commensurate with its size & operations exist to
compliance of DPE guidelines on annual basis were found to iv. Risk Management Committee (RMC)
monitor & ensure compliance with the applicable laws,
have been complied with.
rules, regulations and guidelines. Quarterly report on During the financial year under review, the Audit
We further report that:- compliance of law and statutes is regularly put up to the Committee was re-constituted. The scope of work and
Board of the Company for its review. authority vested with the committees are as per provision
(A) COMPOSITION OF BOARD:
of Section 177 of the Companies Act, 2013, read with the For J.K Das And Associates
During the financial year under review, the Board of (G) AUDIT AND CERTIFICATION OF BOARD DECISIONS:
Companies (meeting of Board and its powers) Rules, 2014, Company Secretaries
Directors of the Company is duly constituted. The Decisions taken in the Board meetings are also audited on Section 135 of the Companies Act, 2013 and provisions
changes in the Composition of the Board of Directors quarterly basis and certificate to this effect that decisions of DPE guidelines & Section 178 of the Companies Act,
that took place during the period under review were duly have been taken are within the ambit of DOP vested with 2013 along with rules made there under respectively. CS J.K. Das,C. P. No. 4250
recorded and proper procedure had been followed by the Board is obtained from Practicing Company Secretary Membership No. FCS 7268
the company in compliance with the provisions of the Act on quarterly basis. (K) APPOINTMENT OF CMD
Place: Kolkata UDIN: F007268F000448588
& Rules there under. During the financial year under review, Shri Uday A. Kaole Date: 25th May, 2024 Peer Review
(H) INCREASE OF THE AUTHORISED SHARE CAPITAL
has taken over the charge of Chairman-cum-Managing Certificate No.1748/2022
(B) HOLDING OF BOARD & THEIR COMMITTEE MEETINGS:
During the financial year under review, with the approval
During the financial year under review, adequate notice of the Members in its Extra-Ordinary Meeting General
was circulated to all the Directors for the Board Meetings. Meeting held on Tuesday, the 17th October, 2023, the
Agenda and detailed notes on agenda were sent in authorized share capital of the Company was enhanced
advance. A system exists for seeking and obtaining further from H 980 Crore divided into 77,58,200 (Seventy Seven
information and clarifications on the agenda items placed Lakh Fifty Eight Thousand Two Hundred) equity shares
before the meetings for the meaningful participation of H 1000 each and 20,41,800 (Twenty Lakh Forty One
at the meetings. All decisions at the Board Meetings & Thousand Eight Hundred) 10% Cumulative Redeemable
Committee Meetings were carried out with requisite Preference Shares of H 1000 each to H 1600 Crores
260 261
Annexure-A K K Patel & Associates 305, Number 6, Sector 29, Road,
Corporate Overview
Company Secretaries Gandhinagar Sector 21, Gandhinagar-
To, Gujarat - 382021
The Members Phone: 079 2324 3088
M/s. Mahanadi Coalfields Limited
Jagruti Vihar Burla,
Sambalpur-768020
Orissa, India
FOR THE FINANCIAL YEAR ENDED 31st MARCH, 2024
Dear Sir,
Our report of even date is to be read along with this letter. (Appointment and Remuneration of Managerial Personnel) Rules, 2014}
Statutory Reports
To,
Management's Responsibility: The Members,
The responsibilities of the management of the Company are as under: Northern Coalfields Limited
PO. Singrauli Colliery, Dist. Singrauli
1. Maintenance of secretarial records is the responsibility of the management of the Company. Our responsibility is to express PIN: 486889 (MP)
We have conducted the secretarial audit of the compliance of applicable (v) The following Regulations and Guidelines prescribed
2. We have followed the audit practices and the processes as were appropriate to obtain reasonable assurance about the statutory provisions and the adherence to good corporate practices by under the Securities and Exchange Board of India Act,
correctness of the contents of the secretarial records. The verification was done on test basis to ensure that correct facts Northern Coalfields Limited (hereinafter called “the Company”). 1992 ('SEBI Act'): -
are reflected in secretarial records. We believe that the processes and practices, we followed provide a reasonable basis Secretarial Audit was conducted in a manner that provided us a reasonable
basis for evaluating the Corporate Conducts/ Statutory Compliances and a) The Securities and Exchange Board of India
for our opinion.
expressing our opinion thereon.
[Substantial Acquisition of Shares and Takeovers]
3. We have not verified the correctness and appropriateness of financial records and Books of Account of the Company or Based on our verification of the company’s books, papers, Regulations, 2011; (not applicable to the Company
examined any books, information or statements other than Books and Papers. minute books, forms and returns filed and other records during the Audit Period)
maintained by the Company and also the information
4. We have not examined any other specific laws except as mentioned above. provided by the Company, its officers, agents and authorized b) The Securities and Exchange Board of India
representatives during the conduct of secretarial audit, we (Prohibition of Insider Trading) Regulations, 2015;
5. Wherever required, we have obtained the Management Representation about the compliance of aforesaid Laws, Rules,
hereby report that in our opinion, the Company has during the
Regulations, Standards, Guidelines and happening of events etc. c) The Securities and Exchange Board of India (Issue of
audit period covering the Financial Year ended on 31st March,
Capital and Disclosure Requirements) Regulations,
6. The compliance of the provisions of corporate laws and other applicable Rules, Regulations, Guidelines, Standards etc. is the 2024 complied with the statutory provisions listed hereunder
2018; (not applicable to the Company during
responsibility of management. Our examination was limited to the verification of procedure on test basis. and also that the Company has proper Board-processes and
the Audit Period)
compliance-mechanism in place to the extent, in the manner
7. The Secretarial Audit Report is neither an assurance as to the future viability of the Company nor of the efficacy or effectiveness and subject to the reporting made hereinafter: d) The Securities and Exchange Board of India
with which the management has conducted the affairs of the Company.
(Employee Stock Option Scheme and Employee
We have examined the books, papers, minute books, forms and
Stock Purchase Scheme) Guidelines, 1999;
returns filed and other records maintained by the Company
(not applicable to the Company during
for the Financial Year ended on 31st March 2024 according to
the Audit Period)
For J.K Das And Associates the provisions of:
Company Secretaries e) The Securities and Exchange Board of India
(i) The Companies Act, 2013 (the Act) and the rules
(Issue and Listing of Debt Securities) Regulations,
made thereunder;
2008; (not applicable to the Company during
CS J.K. Das,C. P. No. 4250 (ii) The Securities Contracts (Regulation) Act, 1956 ['SCRA'] the Audit Period)
Membership No. FCS 7268 and the rules made there under; (not applicable to the
f) The Securities and Exchange Board of India
Place: Kolkata UDIN: F007268F000448588 Company during the Audit Period)
(Registrars to an Issue and Share Transfer Agents)
Date: 25th May, 2024 Peer Review Certificate No.1748/2022
(iii) The Depositories Act, 1996 and the Regulations and Bye- Regulations, 1993 regarding the Companies Act
laws framed there-under are complied with to the extent and dealing with client; (not applicable to the
applicable. Further, MCA vide notification dated 22nd Company during the Audit Period)
January, 2019 exempted Government Companies from
g) The Securities and Exchange Board of India (Delisting
dematerialization of shares and hence the same is not
of Equity Shares) Regulations2009; (not applicable
applicable to the Company. However, the Company has
to the Company during the Audit Period)
voluntarily dematerialized its shares.
h) The Securities and Exchange Board of India (Buyback
(iv) Foreign Exchange Management Act, 1999, the rules and
of securities) Regulation, 2018; (not applicable to
regulations made thereunder to the extent of Foreign
the Company during the Audit Period)
Direct Investment, Overseas Direct Investment and
External Commercial Borrowings; (No such action/
event during the Audit Period).
262 263
(vi) Corporate governance guidelines issued by Department 21. Water (Prevention and Control of Pollution) Cess Act, The changes in the composition of the Board of Directors that (i) The Company has increased its authorized share capital
Corporate Overview
of Public Enterprises vide OM No. 18(8)/2005-GM dated 1977 and Rules made there under took place during the period under review are carried out in from H 1,400 Crores divided into 1(One) Crore Equity
14th May, 2010. compliance with the provisions of the law. shares of H 1000/- each and 40 (Forty) Lac 10% Cumulative
22. Air (Prevention and Control of Pollution) Act, 1981 and Preference Shares of H 1000/- each to H 5,400 (Rupees
(vii) Secretarial Standards issued by the Institute of Company the Air (Prevention and Control of Pollution) Rules, 1982 Adequate notice is given to all directors to schedule the Board Five Thousand Four Hundred) Crores divided into 5 (Five)
Secretaries of India. Meetings, agenda and detailed notes on agenda are sent Crore Equity Shares of H 1000/- each and 40 (Forty) Lac
23. Indian Forest Act, 1957 at least seven days in advance and in case of shorter notice 10% Cumulative Preference Shares of H 1000/- each by
(viii) Constitution of Board of Directors of the Company as required compliance as per Companies Act, 2013 has been
24. Environment Impact Assessment Notification, 2006 passing the ordinary resolution in the Extra Ordinary
specified in Ministry of Coal Letter. No. 21/35/2005-ASO(vi) ensured and a system exists for seeking and obtaining further General meeting of the members held on 30.01.2024.
dated 06th June, 2008. information and clarifications on the agenda items before the
25. Hazardous Waste Handling and Management Act, 1989
meeting and for meaningful participation at the meeting. (ii) The Company has allotted 1,89,28,215 new equity shares
We report that having regard to the compliance system
26. Hazardous and other Waste (Management and Trans of H 1,000 each as fully paid-up bonus shares to existing
prevailing in the company and on examination of the
Statutory Reports
boundary Movement) Rules, 2016 Majority decision is carried out unanimously while the shareholders of the Company (i.e. M/s Coal India Limited)
documents and records in pursuance thereof, on test check Dissenting Members’ views, if any are captured and recorded in the ratio of 3 (three) new equity shares for every 1 (one)
basis, the company has complied with the provisions of the 27. E-Waste Management Rules, 2016 as part of the minutes. equity shares held by the existing equity shareholders of
laws applicable to company, in general and the following laws
28. Bio Medical Waste (Management and Handling) the Company in its Board meeting held on 28.03.2024.
specifically to the company as detailed below: We further report that during the period under review, the
Rules, 1998 & 2016 Company has complied with the provisions of the Act, Rules,
1. The Mines Act, 1952: 1) The Mines Rules, 1955 & 2) Mines Regulations, Guidelines, Standards etc. mentioned above
Vocational Training Rules, 1966 29. Plastic Waste Management Rules, 2016
subject to aforesaid observations.
30. Construction & Demolition Waste Management Rules,2016 For K K Patel & Associates
2. Coal Mines Regulations, 2017 We further report that there are adequate systems and Company Secretaries
31. The Electricity Act, 2003 and Electricity Rules 2005 processes in the Company commensurate with the size and
3. Mines and Minerals (Development and
operations of the Company to monitor and ensure compliance
Regulation) Act, 1957
32. Public Liability Insurance Act, 1991 and Rules with applicable laws, rules, regulations and guidelines.
Kiran Kumar Patel
4. Mineral (Conservation and Development) Rules, 2017 made thereunder
We further report that during the audit period the Company Place : Gandhinagar C.P. No.:6352, FCS:6384
33. Indian Bureau of Mines (Senior Technical Assistant has taken the following specific actions that having a major Date : 11.05.2024 UDIN:F006384F000351014
5. Mines Creche Rules,1966
(Survey), Junior Technical Assistant (Survey) and Junior bearing on the Company’s affairs in pursuance of the above
6. Coal Mines Pithead Bath Rules, 1946 Surveyor Recruitment Rules, 1990 referred laws, rules, regulations, guidelines, standards, etc. This report is to be read with our letter of even date which
is annexed as “Annexure A” and forms an integral part
7. Indian Explosives Act, 1884 & Explosives Rules, 2008 34. Indian Bureau of Mines (Electrical Supervisor and of this report.
Electrician) Recruitment Rules, 1990
8. Coal Mines (Conservation and Development) Act, 1974
We further report that:
9. Mineral Concession Rules, 1960
The Board of Directors of the Company is comprised of
10. Colliery Control Order, 2000 and Colliery Executive Directors, Non-Executive Directors and Non-
Control Rules, 2004 Official Part-time/ Independent Director subject to our
below observation:
11. Payment of Wages (Mines) Rules, 1956
Requisite number of Non-Official Part-time / Independent
12. Maternity Benefit (Mines and Circus) Rules, 1963
Directors on Board of Directors of the company i.e. four
13. Payment of Undisbursed Wages (Mines) Rules, 1989 independent directors is yet to be appointed by the
Central Government in order to fulfill the composition
14. Coal Mines Provident Fund and Miscellaneous of the Board of Directors and Audit Committee as per
Provision Act, 1948 constitution of Board of Directors specified in Ministry of
Coal Ltr. No. 21/35/2005-ASO(vi) dated 06th June, 2008
15. Coal Mines Pension Scheme, 1998 read with DPE Guidelines on Corporate Governance in
this regard, as there was only one independent Director
16. Payment of Wages Act, 1936
on Board of company during the year 2023-24 and
17. Coal Bearing Areas (Acquisition & Development) Act, 1957 accordingly the constitution of audit committee is not
in accordance with the provisions of DPE Guidelines on
18. Right to fair Compensation and Transparency in Land Corporate Governance.
Acquisition, Rehabilitation and Resettlement Act,
2013 & Rules, 2014 However, as regards certain corporate governance
provisions, the Company being a Central PSU, the
19. Environmental Protection Act, 1986 and Environment regulatory framework applicable to Government
Protection Rules, 1986 companies is designed to ensure compliances in respect
of matters pertaining to appointment, remuneration,
20. Water (Prevention and Control of Pollution) Act, 1974
evaluation and succession etc. of directors.
and Rules, 1975
264 265
‘Annexure A’ R & A Associates T-202, Technopolis, 1-10-74/B Above
Corporate Overview
Company Secretaries Ratnadeep Super Market Chikoti Gardens,
Begumpet Hyderabad-500016, India.
To, Phone: +91 40-4003.2244
The Members, Email: [email protected]
FORM NO. MR-3
P.O.: Singrauli Colliery
Dist.Singrauli (MP) SECRETARIAL AUDIT REPORT
Pin: 486889 FOR THE FINANCIAL YEAR ENDED 31st MARCH, 2024
Our Report of even date is to be read along with this letter.
Statutory Reports
1. Maintenance of secretarial records is the responsibility of the management of the Company. Our responsibility is to express
To
2. We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness The Members,
of the contents of the Secretarial records. The verification was done on the test basis to ensure that correct facts are reflected South Eastern Coalfields Limited.
in secretarial records. We believe that the processes and practices, we followed provide reasonable basis for our opinion.
We have conducted the secretarial audit of the compliance (v) The following Regulations and Guidelines prescribed
3. We have not verified the correctness and appropriateness of financial records and Books of Accounts of the Company. of applicable statutory provisions and the adherence under the Securities and Exchange Board of India Act,
We have relied upon the report of Statutory Auditors regarding Companies Act 2013 & Rules made thereunder relating to to good corporate practices by SOUTH EASTERN 1992 (“SEBI Act”):-
maintenance of Books of Accounts, Papers & Financial Statements of the relevant financial year, which gives true and fair view COALFIELDS LIMITED (A Mini Ratna PSU), having CIN:
U10102CT1985GOI003161 and having registered office (a) The Securities and Exchange Board of India
of the state of affairs of the Company.
at Seepat Road, Bilaspur, Chhattisgarh – 495006 (Hereinafter (Listing Obligations and Disclosure Requirements)
4. Wherever required, we have obtained the Management representation about the compliances of laws, rules and regulations referred to as “Company”). Secretarial Audit was conducted in Regulations, 2015;
and happening of events etc. a manner that provided us a reasonable basis for evaluating
(b) The Securities and Exchange Board of India
the corporate conducts/statutory compliances and expressing
5. The compliances of the provisions of Corporate and other applicable laws, rules, regulations, standards are the ‘Responsibility’ (Prohibition of Insider Trading) Regulations, 2015;
our opinion thereon.
of Management. Our examination is limited to the verification of procedures on test basis.
(c) The Securities and Exchange Board of India
Based on our verification of the Company’s books, papers,
6. The Secretarial Audit Report is neither an assurance as to the future viability of the Company nor of the efficacy or effectiveness (Substantial Acquisition of Shares and Takeovers)
minute books, forms and returns filed and other records
with which the management has conducted the affairs of the Company. Regulations, 2011 - (Not applicable to the
maintained by the Company which were shared with
Company during the Audit Period);
us electronically and also the information, confirmation,
clarifications provided by the Company, its officers, agents and (d) Securities and Exchange Board of India (Issue of
authorized representatives during the conduct of Secretarial Capital and Disclosure Requirements) Regulations,
For K K Patel & Associates Audit, we hereby report that in our opinion, the Company has, 2018 - (Not applicable to the Company during
Company Secretaries during the audit period covering the Financial Year ended on the Audit Period);
31st March, 2024 (Hereinafter referred to as “Audit Period”),
complied with the statutory provisions listed hereunder and (e) Securities and Exchange Board of India (Share Based
also that the Company has proper Board-processes and Employee Benefits and Sweat Equity) Regulations,
Kiran Kumar Patel
compliance-mechanism in place to the extent, in the manner 2021 - (Not applicable to the Company during
Place : Gandhinagar C.P. No.:6352, FCS:6384
and subject to the reporting made hereinafter: the Audit Period);
Date : 11.05.2024
We have examined the books, papers, minute books, forms and (f) The Securities and Exchange Board of India
returns filed and other records maintained by the Company (Issue and Listing of Debt Securities) Regulations,
for the Financial Year ended on 31st March, 2024, according to 2008 - (Not applicable to the Company during
the provisions of: the Audit Period);
Observation by Secretarial Auditor Management Reply
Requisite number of Non-Official Part-time / Independent Directors on It is a statement of fact. (i) The Companies Act, 2013 (the “Act”) and the rules (g) The Securities and Exchange Board of India
Board of Directors of the company i.e. four independent directors is yet to made thereunder; (Registrars to an Issue and Share Transfer Agents)
The appointment of Directors is done by Ministry of
be appointed by the Central Government in order to fulfill the composition Regulations, 1993 regarding the Companies Act
Coal, Government of India, in which the Company
(ii) The Securities Contracts (Regulation) Act, 1956 (“SCRA”) and dealing with client - (Not applicable to the
of the Board of Directors and Audit Committee as per constitution of has no role. However, the representation has been
and the rules made thereunder; (Not applicable to the Company during the Audit Period);
Board of Directors specified in Ministry of Coal Ltr. No. 21/35/2005-ASO(vi) made to the Ministry for filling up of the vacancies of
Company during the Audit Period)
dated 06th June, 2008 read with DPE Guidelines on Corporate Governance the non-official part-time (independent) directors on (h) The Securities and Exchange Board of India
in this regard, as there was only one independent Director on Board of Board of the Company at the earliest. (iii) The Depositories Act, 1996 and the Regulations and bye- (Delisting of Equity Shares) Regulations, 2021 -
company during the year 2023-24 and accordingly the constitution of audit laws framed thereunder; (Not applicable to the Company during the
committee is not in accordance with the provisions of DPE Guidelines on
Audit Period); and
Corporate Governance. (iv) Foreign Exchange Management Act, 1999 and the
rules and regulations made thereunder to the extent of (i) The Securities and Exchange Board of India (Buy-back
Foreign Direct Investment, Overseas Direct Investment of Securities) Regulations, 2018 - (Not applicable to
and External Commercial Borrowings; (Not applicable the Company during the Audit Period);
to the Company during the Audit Period)
266 267
(vi) Guidelines on Corporate Governance for Central Public t. The Hazardous and Other Wastes (Management Adequate notice is given to all directors to schedule the We further report that during the audit period the
Corporate Overview
Sector Enterprises (‘CPSE’) issued by Government of and Transboundary Movement) Rules, 2016 Board Meetings. Agenda and detailed notes on agenda were Company has no specific events /actions having a
India, Department of Public Enterprises (“DPE”) vide sent at least seven days in advance, and a system exists for major bearing on the Company’s affairs in pursuance of
their OM. No. 18(8)/2005-GM dated May 14, 2010 u. The Water (Prevention & Control of Pollution) Act, seeking and obtaining further information and clarifications the above referred laws, rules, regulations, guidelines,
(Hereinafter to be referred as “Guidelines on Corporate 1974 and Rules made thereunder. on the agenda items before the meeting and for meaningful standards, etc. referred to above.
Governance for CPSE”) participation at the meeting.
v. The Air (Prevention & Control of Pollution) Act, 1981
For R&A Associates
(vii) The Compliance of following Specific laws as applicable to Majority decision is carried through, while the dissenting Company Secretaries
w. Public Liability Insurance Act, 1991 and Rules
South Eastern Coalfields Limited are the responsibility Board members’ views, if any, are captured and recorded as (Peer Reviewed)
made thereunder.
of the management of the Company. Our Report is based part of the minutes.
on the Management Representation Letter provided, We have also examined compliance with the applicable
wherever required for our, by the management and/ (R. Ramakrishna Gupta)
clauses of the following: (A) SYSTEMS AND PROCESSES FOR
Statutory Reports
or its officials: Senior Partner
(a) Secretarial Standards issued by The Institute of Company
COMPLIANCE WITH APPLICABLE LAWS, FCS No.: 5523
a. The Mines Act, 1952 RULES, REGULATIONS AND GUIDELINES Date: 31st May, 2024 C P No.: 6696
Secretaries of India.
We further report that there are adequate systems and Place: Hyderabad ICSI UDIN: F005523F000508817
b. Explosives Act, 1884 (b) The Listing Agreements entered into by the Company processes in the Company commensurate with the size
with Stock Exchanges (Not applicable to the Company and operations of the Company to monitor and ensure Note: This report is to be read with our letter of even date,
c. Colliery Control Order, 2000 and Colliery
during the Audit Period as the Company is not a compliance with applicable laws, rules, regulations which is annexed as “Annexure – A” and forms an integral part
Control Rules, 2004
Listed Company). and guidelines. of this report.
d. The Coal Mines Regulations, 2017
During the period under review the Company has
e. The Payment of Wages (Mines) Rules, 1956 complied with the provisions of the Act, Rules, Regulations,
Guidelines, Standards, etc. mentioned above subject to the
“Annexure – A”
f. Coal Mines Pension Scheme, 1998 following observations:
g. Coal Mines Conservation and Development Act, 1974 (i) The Audit Committee do not have required number of
Independent Directors as required under Chapter 4 of To
h. The Mines Vocational Training Rules, 1966 Guidelines on Corporate Governance for CPSE. The Members,
South Eastern Coalfields Limited,
i. The Mines Creche Rules, 1961 (ii) The number of Functional Directors (including CMD/MD) Seepat Road, Bilaspur, Chhattisgarh-495006.
are exceeding 50% of the actual strength of the Board as
j. The Mines Rescue Rules, 1985 Our report of even date is to be read along with this letter:
prescribed under Chapter 3 of Guidelines on Corporate
k. Coal Mines Pithead Bath Rules, 1946 Governance for Central Public Sector Enterprises, caused
1. Maintenance of secretarial records is the responsibility of the management of South Eastern Coalfields Limited (hereinafter
due to vacancy created by the resignation of Mr. Tankadhar
referred to as “the Company”). Our responsibility is to express an opinion on these secretarial records based on our audit.
l. Maternity Benefit (Mines and Circus) Rules, 1963 Tripathy, Independent Director w.e.f. 12.04.2023.
2. We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness
m. The Explosives Rules, 2008 (iii) The Company do not have at least one Woman
of the contents of the Secretarial records. The verification was done on test basis to ensure that correct facts are reflected in
Director as required under Section 149(1)(b) of the
n. Mineral Concession Rules, 1960 secretarial records. We believe that the processes and practices we followed provide a reasonable basis for our opinion.
Companies Act, 2013.
o. Coal Mines Provident Fund and Miscellaneous 3. We have not verified the correctness and appropriateness of financial records and Books of Accounts of the Company.
We further report that,
Provisions Act, 1948
The Board of Directors of the Company is not constituted 4. Wherever required, we have obtained the Management representation about the compliance of laws, rules and regulations
p. Mines and Minerals (Development and with proper balance of Executive Directors, Non-Executive and happening of events etc.
Regulation) Act, 1957 Directors, and Independent Directors due to the reasons
5. The compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the responsibility of
mentioned in the observations.
q. The Payment of Undisbursed Wages management. Our report is based on the Management Representation Letter provided by the Management, wherever required.
(Mines) Rules, 1989 The change in the composition of the Board of Directors
6. The Secretarial Audit report is neither an assurance as to the future viability of the company nor of the efficacy or effectiveness
that took place during the period under review was carried
r. Indian Electricity Act, 2003 and the Indian with which the management has conducted the affairs of the company.
out in compliance with the CPSE Guidelines on Corporate
Electricity Rules, 1956
Governance and the Companies Act, 2013.
For R&A Associates
s. Environment Protection Act, 1986 and Environment Company Secretaries
In terms of Articles of Association of the Company all
Protection Rules, 1986 (Peer Reviewed)
appointments to the Board are made by Government of India.
(R. Ramakrishna Gupta)

Senior Partner
FCS No.: 5523
Date: 31st May, 2024 C P No.: 6696
Place: Hyderabad ICSI UDIN: F005523F000508817
268 269
Sub: Management Reply to the observations made in the Secretarial Audit Report for FY 2023-24. Parikh & Associates Office 111,11th Floor, Sai Dwar CHS Ltd Sab TV Lane, Opp
Corporate Overview
Company Secretaries Laxmi Industrial Estate, Off Link Road, Above Shabari Restaurant,
SN. Observations Management Reply Andheri (W), Mumbai: 400053
1 The Audit Committee do not have required During the Audit period, the composition of Audit Committee was not Email:[email protected]/[email protected]
number of Independent Directors as required as per Para 4.1.1 of DPE Guidelines on Corporate Governance for CPSE. Tel: 022-26301232/1233
under Chapter 4 of Guidelines on Corporate This is due to the fact that out of the total requirement of 04 (four) Nos.
Governance for CPSE. of Independent Directors, there were only 02 (two) Nos. of Independent
FORM NO. MR-3
Directors on the Board of SECL; and appointment of 02 (two) more
Independent Directors is still awaited from Ministry of Coal (MoC). SECRETARIAL AUDIT REPORT
2 The number of Functional Directors (including In terms of MoC letter dated 06.06.2008, the Board of Directors of SECL FOR THE FINANCIAL YEAR ENDED 31st MARCH, 2024
CMD/MD) are exceeding 50% of the actual is constituted with 11 Directors including 05 Whole-Time Functional {Pursuant to Section 204(1) of the Companies Act, 2013 and rule 9 of the Companies
strength of the Board as prescribed under ChapterDirectors (incl. CMD/MD), 02 Part-Time Official Directors (Government
Statutory Reports
3 of Guidelines on Corporate Governance for Nominees) & 04 Part-Time Non-Official Directors (Independent To,
Central Public Sector Enterprises, caused due Directors), who are appointed by the Government of India, Ministry of The Members,
to vacancy created by the resignation of Shri Coal. In addition to this, Government has nominated a representative Western Coalfields Limited
Tankadhar Tripathy, Independent Director w.e.f. from SECR as a Permanent Invitee on the Board of SECL.
12.04.2023. We have conducted the secretarial audit of the compliance (v) The following Regulations and Guidelines prescribed
Consequent upon resignation of Shri Tankadhar Tripathy, Independent
of applicable statutory provisions and the adherence to under the Securities and Exchange Board of India Act,
The Board of Directors of the Company is not Director w.e.f. 12.04.2023, there are only 02 (two) Nos. of Independent
good corporate practices by Western Coalfields Limited 1992 (‘SEBI Act’)
constituted with proper balance of Executive Directors on the Board of SECL out of total requirement of 04 (four)
Directors, Non-Executive Directors and Nos.; and appointment of 02 (two) more Independent Directors is still (hereinafter called ‘the Company’). Secretarial Audit was
(a) The Securities and Exchange Board of India
Independent Directors due to the reasons awaited from Ministry of Coal (MoC). conducted in a manner that provided us a reasonable basis for
(Substantial Acquisition of Shares and Takeovers)
mentioned above. evaluating the corporate conducts/statutory compliances and
Regulations, 2011; (Not applicable to the Company
3 The Company do not have at least one Woman 01 (One) Woman Director, Ms. Vismita Tej, IRS, Additional Secretary, expressing our opinion thereon.
during the audit period)
Director as required under Section 149(1)(b) of MoC on the Board of SECL as Government Nominee Director had
Based on our verification of the Company’s books, papers, (b) The Securities and Exchange Board of India
the Companies Act, 2013. relinquished the charge on 21.02.2023. At present, there is no Woman
minute books, forms and returns filed and other records (Prohibition of Insider Trading) Regulations,
Director on the Board of SECL and appointment of the same is still
maintained by the company, to the extent the information 2015; (Not applicable to the Company during
awaited from Ministry of Coal (MoC).
provided by the company, its officers, agents and authorized the audit period)
representatives during the conduct of secretarial audit, (c) The Securities and Exchange Board of India (Issue of
the explanations and clarifications given to us and the Capital and Disclosure Requirements) Regulations,
representations made by the Management and considering 2018 and amendments from time to time; (Not
the relaxations granted by the Ministry of Corporate Affairs applicable to the Company during the audit period)
and Securities and Exchange Board of India, we hereby report
(d) The Securities and Exchange Board of India (Share
that in our opinion, the company has, during the audit period
Based Employee Benefits and Sweat Equity)
covering the financial year ended on March 31, 2024 generally
complied with the statutory provisions listed hereunder and
during the audit period)
also that the Company has proper Board processes and
compliance mechanism in place to the extent, in the manner (e) The Securities and Exchange Board of India
and subject to the reporting made hereinafter: (Issue and Listing of Non-Convertible Securities)
We have examined the books, papers, minute books, forms during the audit period)
and returns filed and other records made available to us and
(f) The Securities and Exchange Board of India
maintained by the Company for the financial year ended on
(Registrars to an Issue and Share Transfer Agents)
March 31, 2024 according to the provisions of:
Regulations, 1993 regarding the Act and dealing
(i) The Companies Act, 2013 (‘the Act’) and the rules with client; (Not applicable to the Company during
made thereunder; the audit period)
(g) The Securities and Exchange Board of India (Delisting
(ii) The Securities Contract (Regulation) Act, 1956 (‘SCRA’)
of Equity Shares) Regulations, 2021; (Not applicable
and the rules made thereunder;
to the Company during the audit period) and
(iii) The Depositories Act, 1996 and the Regulations and Bye- (h) The Securities and Exchange Board of India (Buyback
laws framed thereunder; of Securities) Regulations, 2018; (Not applicable to
the Company during the audit period)
(iv) Foreign Exchange Management Act, 1999 and the rules
and regulations made thereunder of Foreign Direct (vi) Corporate Governance guidelines for Central Public
Investment to the extent applicable to the Company; Sector Enterprises (CPSEs) issued by Department of
Public Enterprises (DPE), Govt. of India;
(vi) Other laws specifically applicable to the Company namely:
270 271
1. The Mines Act, 1952 & the Mines Rules, 1955; 37. The Factories Act, 1948; ‘Annexure A’
Corporate Overview
2. Indian Explosive Act, 1884; 38. Maternity Benefit Act, 1961;
39. The Employee Compensation Act, 1923; To,
3. The Explosive Rules, 2008;
The Members,
4. Colliery Control Order, 2000 and Colliery 40. The Payment of Wages Act, 1936;
Control Rules, 2004; 41. The Minimum Wages Act,1948;
5. The Coal Mines Regulations, 2017; Our report of even date is to be read along with this letter.
42. Equal Remuneration Act, 1976;
6. The Payment of Wages (Mines) Rules, 1956; 1. Maintenance of Secretarial record is the responsibility of the management of the Company. Our responsibility is to express
43. The Contract Labour (Regulation and
7. Coal Mines Pension Scheme, 1998; an opinion on these secretarial records based on our audit.
Abolition) Act, 1970.
8. Coal Mines Conservation and Development Act,1974;
2. We have followed the audit practices and process as were appropriate to obtain reasonable assurance about the correctness
9. The Mines Vocational Training Rules, 1966; We have also examined compliance with the applicable
Statutory Reports
of the contents of the Secretarial records. The verification was done on test basis to ensure that correct facts are reflected in
clauses of the following:
10. The Mines Creche Rules, 1966; Secretarial records. We believe that the process and practices, we followed provide a reasonable basis for our opinion.
11. The Mines Rescue Rules, 1985; (i) Secretarial Standards issued by The Institute of
3. We have not verified the correctness and appropriateness of financial records and Books of Accounts of the Company.
12. Coal Mines Pithead Bath Rules, 1959; Company Secretaries of India with respect to Board and
General Meetings. 4. Wherever required, we have obtained the Management representation about the Compliance of laws, rules and regulations
13. Maternity Benefit (Mines and Circus) Rules, 1963;
and happening of events, etc.
14. Mineral Concession Rules, 1960; During the period under review, the Company has generally
15. Coal Mines Provident Fund and Miscellaneous complied with the provisions of the Act, Rules, Regulations, 5. The Compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the responsibility
Provisions Act, 1948; Guidelines, standards etc. mentioned above. of management. Our examination was limited to the verification of procedure on test basis.
16. Mines and Minerals (Development and
We further report that: 6. The Secretarial Audit report is neither an assurance as to the future viability of the Company nor of the efficacy or effectiveness
Regulation) Act, 1957; with which the management has conducted the affairs of the Company.
The Board of Directors of the Company is constituted with proper
17. Mines and Minerals Conservation and balance of Executive Directors, Non-Executive Directors and
Development Rules, 2017; Independent Directors except appointment of a Woman Director
18. The payment of Undisbursed Wages on the Board of the Company as per second proviso to Section 149 For Parikh & Associates
(Mines) Rules, 1989; (1) of the Companies Act, 2013.The changes in the composition Company Secretaries
19. Indian Electricity Act, 2003 and the Indian of the Board of Directors that took place during the period under
Electricity Rules, 1956; review were carried out in compliance with the provisions of the Act.
Signature:
20. Environmental Protection Act, 1986 and Environment Adequate notice was given to all Directors to schedule the Mitesh Dhabliwala
Protection Rules, 1986; Board Meetings, agenda and detailed notes on agenda Partner
21. The Hazardous and other Wastes (Management and were sent at least seven days in advance other than those FCS No: 8331 CP No: 9511
Transboundary Movement) Rules, 2016; held at shorter notice, and a system exists for seeking and Place: Mumbai UDIN: F008231F000566526
22. The Water (Prevention & Control of Pollution) Act, obtaining further information and clarifications on the agenda Date: 13.06.2024 PR No.: 1129/2021
1974 and Rules made there under; items before the meeting and for meaningful participation
at the meeting.
23. The Air (Prevention & Control of Pollution) Act, 1981;
24. The Coal Bearing Areas (Acquisition & Decisions at the Board Meetings were taken
Development) Act, 1957; unanimously.
25. Land Acquisition Act, 1894; We further report that there are adequate systems and
Observations of Secretarial Auditor and Management Reply thereon
26. Forest Conservation Act, 1980; processes in the Company commensurate with the size and
27. Right to fair Compensation and Transparency in operations of the Company to monitor and ensure compliance
with applicable laws, rules, regulations and guidelines. S
Land Acquisition, Rehabilitation and Resettlement Observation by Secretarial Auditor Management Reply thereon
NO
Act, 2013 & Rules, 2014;
We further report that during the audit period no events 1 During the audit period under report, the Consequent upon completion of term of appointment, Dr. Darshana
28. The Indian Forest Act, 1957; have occurred which had bearing on the Company’s affairs Company was not having a Woman Director on C Deshmukh retired on 24.07.2022, fresh appointment of a Woman
29. Environment Impact Assessment Notification, 2006; in pursuance of the above referred laws, rules, regulations, the Board of the Company as per Second Proviso Director is awaited from the Govt. of India.
30. Indian Bureau of Mines (Electrical Supervisor and guidelines etc. to Section 149 (1) of the Companies Act, 2013
For Parikh & Associates
Electrician) Recruitment Rules, 1990; Company Secretaries
31. The Apprentices Act, 1961;
32. The Sexual Harassment of Women at workplace Signature:
(Prevention, Prohibition and Redressed) Act, 2013; Place: Nagpur Ritu Varshney
Mitesh Dhabliwala
Date: /06/2024 (Company Secretary)
33. The payment of Gratuity Act, 1972; Partner
34. Payment of Bonus Act, 1965; FCS No: 8331 CP No: 9511
Place: Mumbai UDIN: F008231F000566526
35. The Industrial Dispute Act, 1947;
Date: 13.06.2024 PR No.: 1129/2021
36. The Industrial Employment (Standing
This Report is to be read with our letter of even date which is
Orders) Act, 1946;
annexed as Annexure A and forms an integral part of this report.
272 273
Corporate Overview
Foreign Exchange Earning and outgo under Rule 8 of RESEARCH & DEVELOPMENT (R&D)
Companies (Accounts) Rules, 2014
1. Specific area in which R&D carried out Under techno-economic efficacy for ANFO
explosive, with low density, porous, thermally
COAL INDIA LIMITED (STANDALONE) Govt. of India through its Coal Science & Technology
stabilised, Prilled Ammonium Nitrate in CIL mines,
(S&T) Plan and Coal India Limited (CIL) through its R&D
Expenditure / Earnings in Foreign exchange vis-à-vis other conventional explosives in terms
(H in crore) Board have been promoting R&D activities in Coal
of Powder Factor (PF), post blast analysis etc. has
Outflows FY 2023-24 FY 2022-23 & Lignite Sectors for improvement of production &
been established. From the above study, it was
productivity from underground mining and opencast
Statutory Reports
i) Travelling Expenses 0.44 0.81 found that fragmentation using ANFO is better and
mining, improvement of safety, health & environment,
ii) Training Expenses Nil Nil cost effective in comparison to other explosives
creation of wealth from waste , alternative use of coal and
iii) Others Nil Nil in dry condition.
clean coal technologies, coal beneficiation & utilization,
Earnings Nil Nil
exploration, innovation and indigenisation (under Make Under project “Requirement of air in mine for
in India concept) and allied fields. Substantial funds are Mass Production Technology’ complete ventilation
COAL INDIA LIMITED (CONSOLIDATED) being earmarked annually by Ministry of Coal and CIL R&D studies were conducted in Continuous Miner
Board to carry out research work on the above subjects. operated mines and Longwall mines and based on
Expenditure / Earnings in Foreign exchange
(H in crore) analysis a norms relating to minimum air quantity
Outflows FY 2023-24 FY 2022-23 2. Benefits derived from R&D activities in coal framed in CM panels, as it is not practicable to
and lignite sectors provide stipulated air quantity at the Last Ventilation
i) Travelling Expenses 0.89 1.04
Connection (LVC) in mass production panels as per
ii) Training Expenses 0.05 Nil Notable advances have been made through R&D efforts Regulation 153 {2(a)} of CMR-2017.
iii) Consultancy charges Nil Nil in coal exploration techniques
iv) Interest 0.04 0.04
Design of cost effective process flowsheet for
v) Others 774.59 422.03 Introduction of mining methods like “blasting improved washing efficiency of Indian coking and
Earnings 6.02 9.41 gallery and cable bolting” for recovery of coal in Non- coking coals. For coking coals of W-IV, W-V
thick seams and shortwall mining at SECL. and W-VI based on the proposed flow sheets,
(Jigging for -4.0+0.50mm coarse coal and Flotation
“Controlled blasting” for removal of overburden
and Water-Only Cyclones for -0.50 fine coal) it
rocks and coal in opencast mines as close as to 50m
is possible to reduce the ash up to 32% to 33%.
from surface structures successfully.
Therefore, the coals already declared as coking
Rock Mass Rating (RMR) developed under R&D coals can be gainfully utilised by blending with
is now being used for designing support in superior low-ash coals.
underground mines.
Development of guidelines for design of all tiers
Applying new technique using Airborne Laser of shovel-dumper dump above dragline dump,
Terrain Mapper and ground based Terrestrial Laser with delineation of phreatic surface, within dragline
Scanner (TLS) for OB measurement. dump throughout the year and validation study
on two dragline mines of Coal India Limited (CIL).
To ensure the safety and to protect loss of equipment Based on the study, a general guideline has been
in opencast mines, Dumper Collision Avoidance developed relating to maximum height, slope of
System (DCAS) has been developed indigenously dragline and shovel dumper dump.
and was successfully undertaken at KDH opencast
mine of Central Coalfields Limited (CCL). Under the project “Restoration of Orchid flora of
Makum Coalfield areas of Digboi Forest Division”,
Self-advancing goaf edge (mobile) chock type fifteen hundred seedlings are multiplied and
supports have been indigenously developed and planted in re-vegetated mined out sites, nearby
their field trial conducted successfully at Bastacola forest site and RFRI botanical garden with exhaustive
mine of BCCL [in coal roof] and RK-7 mine of SCCL care. Conservation and maintenance of orchid
[shale/ sand stone roof]. species were done at RFRI botanical garden and
Tikak Colliery.
Introduction of modern technique like
Ground Penetrating Radar for detection of old Bench Scale Study on reducing ash content (mineral
unapproachable water logged workings. matter) from Washery Grade Coking coal and high
ash non-coking coal through oil agglomeration.
The solar photovoltaic plant has been erected and
Coal-Oil Agglomeration unit fabricated, installed
commissioned on the roof tops of CMPDI office
and commissioned at NML laboratory, Jamshedpur
buildings. The total installed capacity of the plant
using three types of oils i.e. sunflower oil, castor oil
is 190 kW. This project reduces carbon footprint &
and pine oil for reducing the ash content of coal.
maximizes renewable energy system.
274 275
Coking coal with sunflower oil shows encouraging system, periodic roof weighting phenomena can be (H in crore) 47 numbers of departmental Surface Miners are
Corporate Overview
results (Topa Coal: Ash %age reduced to 9% from detected apart from identifying maintenance issues in operation in several opencast mines of CIL to
Year Total R&D Expenditure
21% with 84% yield, Rajrappa Coal: Ash %age of shield legs such as leakage, low setting pressure, eliminate drilling and blasting and also for facilitating
2020-21 22.26
reduced to 20% from 34% with 80% yield). faulty sensors, etc. selective mining.
2021-22 38.74
Development of Guidelines for Increasing the 2022-23 74.86 A study on use of Vibro Ripper in opencast mines
Height of Overburden Dumps at Opencast Coal 3. Following nine research projects have been 2023-24 61.31 has been done recently. From this study it has
Mines in India. Design and developed a Large- completed during the year 2023-24: Total 236.44 been that Vibro Ripper is suitable at places where
Scale Direct Shear Testing Machine at CMPDI for i. Study of hazards due to mining induced sub-surface drilling & blasting is not permitted / desired due to
testing of representative OB dump samples from cavities and waterlogged areas in inaccessible environmental, safety or other reasons. Presently
Opencast Coal mines. Steeper bench angles up to old workings in underground coal mines using 6. Research & Development: they are deployed in Kaniha & Hingula mines in MCL
40° and external dump height up to 120m can be geophysical technique CMPDIL is the nodal agency for coordination and and Gevra in SECL.
Statutory Reports
considered safe based on the strength properties monitoring of S&T projects in coal sector as well as R&D
of OB material, in comparison to present Coal Mine ii. Assessment of Rare Earth Elements (REE) and other GPS/ GPRS based Vehicle Tracking System [VTS] in
projects of CIL.
Regulation 2017 which limits the individual bench economic resources in Coal & Non-Coal Strata coal transporting vehicles have been introduced to
angle to 37.5° and external dump heights up to 90m. and Characterization of Acid Mine Drainage and prevent theft and pilferage of coal.
its pollution control from the North Eastern Region 7. Technology Absorption:
Capacity Building for extraction of CMM Resource RFID, CCTV & Boom Barrier based Weight
(NER) Coalfield. CIL has taken many technological initiatives in various
within CIL Command Areas (CMPDI & CSIRO, Monitoring and Control System has been
fields across its total operational activities. introduced. It has ensured Real Time transmission
Australia). CMPDI has developed a State-of-Art iii. Indigenous development of early warning radar
Laboratory facility for understanding of CBM/ system for predicting failures/slope instabilities in of coal weighment data to the Central Server. This
In underground mining, Mass Production
CMM resources in India to assist in unconventional open cast mines has enhanced transparency in the system as well as
Technology has been introduced in quite a number
gas resources extraction. Project outcome will be helped reducing theft of coal during transit.
of mines. Continuous Miner Technology (27 nos.) has
iv. Indigenous Development of IoT Enabled Technology
helpful in development of CBM/CMM in CIL & other been introduced in 20 mines of CIL so far, which are
for Monitoring, Analysis and Interpretation of Operator Independence Truck Dispatch System
leasehold areas. under operation. Long-wall mining are in operation
Longwall Shield Pressures for Improving Safety (OITDS)- Automatic allocation of dumpers to shovels
at Moonidih UG of BCCL and Jhanjra UG of ECL. to reduce cycle time and cost instead of presently
Under a project, the effect of blasting on opencast and Productivity
mine dump was investigated and prediction just tracking of vehicles in most of the mines
Five sets of Highwall miners are in operation at
v. Development and adoption of Real-Time Prognosis along with Real Time Vehicle Health Monitoring
model of FOS for stability of the OB dump slope projects of SECL, ECL & BCCL having total capacity
System (RTPS) for cost-effective safe operation of System, VIMS and Fuel Management System (FMS)
was recommended considering various uncertain of 2.35 Mty. LOA have been issued for another 2
mobile machinery: show-cased demonstration are being used.
material parameters under blast loading with Highwall miner projects of CCL & BCCL with total
of dumper fleet.
different explosive densities and distances of the capacity of about 1.0 Mty. Fixed type Automatic sprinkler system for dust
blasting point. vi. Effect of Blasting on Opencast Mine Dump and suppression in Open Cast mines- Continuous
55 Man Riding Systems (MRS) are in operation in 44
Development of Relationship between Blast monitoring of pump drive namely Start, Stop, Trip
Under a project, a VOD measurement system UG mines of CIL and man riding schemes for another
Induced Vibration and Dump Design. etc. is introduced through R&D efforts.
was developed which can measure velocity of 13 underground mines of CIL have been prepared.
detonation of in-the-hole explosive as well as vii. Design of Protective Barrier Pillar against Large Hydrostatic drills with PCD bits for enhancing
cartridges, booster and other accessories on the For a few underground mines proposed with
Water Head in Underground Coal Mines. the productivity of exploratory drills have
surface. The system uses fiber optic cables for high mass production technology, trackless transport
been introduced.
accuracy measurement. The instrument cannot be viii. Appraisal of Gondwana Sediments (Coal, Clay, Shale, system has been proposed for men and material.
initiated without the authorization of the user, hence Sandstone) for Trace Elements & REE concentration Accordingly, five Free-steered vehicles and six multi- CMPDI has recently introduced 2D/3D seismic
authenticity of the measurement and security of the in the Singrauli coalfield. utility vehicles are presently in operation in Jhanjra survey on wide scale for coal exploration work
tested explosives and accessories are guaranteed. and Khottadih underground mines of ECL. using state of art seismograph and modern seismic
ix. Development of an indigenous optical fiber based
The device is developed indigenously keeping the sources (like vibrator/ explosive etc) along with
instrument for measuring in-the-hole Velocity of The latest version of Geovia Minex, Data Mine, Vulcan,
spirit of “Atmanirbhar Bharat Abhiyan” or “Make in optimised drilling work as per terms of ISP, 2022.
Detonation [VOD] and analyze the performance of Carlson software for mine planning have been
India” concept.
explosive in field condition. introduced. This provides best resource planning CMPDI is using state of art Paradigm software
The indigenously developed GB-InSAR system has through pit design, pit optimization, scheduling along with in-house developed software “SPE” for
the capability to monitor deformation from a remote of resources and dumps, etc. Also, Geo-technical processing and interpretation of seismic data, which
4. On-going R&D projects under implementation:
location. It provides utility for generating alarms/ software/tools from Rocscience Inc. for analysing generates better structural information of sub-
alerts for early warning of slope failures in mobile (Details have been incorporated in as Annexure-A rock and soil slopes stability has been procured. surface by imagining technology.
through SMS. This prototype system developed of MDAR report)
Commissioning of the Large Direct Shear Machine Numerical modelling software (FLAC 3D) was
is being deployed and verified in an actual
(Largest in India) with 2500 kN Normal Shear procured / upgraded under R & D project is being
operational environment. 5. Expenditure on Research & Development
Load Capacity through R & D Project (Designed in regularly used for scientific studies involving strata
(R&D) (including S&T of MoC):
Under a project, indigenous development of an collaboration with IIT Delhi) and establishment of control. VENTSIM software for ventilation planning
intrinsically safe data acquisition system (both Expenditure incurred during last 5 years (2019-20 to a Geotechnical Lab. The samples from 18 mines of in UG mines has been introduced. In-house job/skill
hardware and software) was undertaken for 2023-24) on research projects are as follows: NCL, SECL, CCL, MCL, BCCL and NTPC have been has been created by the use of above software.
collecting longwall pressure data and shearer (H in crore) tested and used in the scientific study reports for
position data from Jhanjra longwall panel and Year Total R&D Expenditure Slope stability since the commissioning.
transfer them to a surface computer. Using this 2019-20 39.27
276 277
CMPDI is Principal Implementing Agency (PIA) for Shale gas potentiality and facilitate delineation of Annexure 21
Corporate Overview
the development of CBM in CIL leasehold areas i.e. more blocks for CBM & Shale gas development.
BCCL, ECL & SECL.
CMPDI is jointly pursuing an S&T project with IIT Disclosures as per Section 135 of Companies
Jharia CBM Block-I (BCCL leasehold area) has been
awarded to M/s Prabha Energy Private Limited
Bombay titled “Reservoir Characterisation and
Numerical Modelling of Coal Reservoir for Enhanced Act 2013 on Corporate Social Responsibility.
for extraction of CBM on revenue sharing basis. Coal Bed Methane Recovery and Prospects for
Statutory Clearances for Exploration Phase have Carbon Sequestration”.
been obtained and Block is under Exploration Phase. 1. Brief outline on CSR policy of the Company Bombay (IITB) to provide hygienic and safe
accommodation to girl students
8. Benefits derived out of technological CSR policy of CIL has been framed after incorporating
Re-delineation of Raniganj CBM Block is being
initiatives undertaken: the features of the Companies Act, 2013 including e. H 3.68 Crore were utilized for installation of
considered for re-tendering for CBM Development.
amendments to it and notifications issued by Ministry cath lab and related furniture at Nagarmal
Statutory Reports
Most optimum sizes of HEMMs are being provisioned of Corporate Affairs (MCA) and Department of Public
ONGC-CIL JV: Collaborative commercial development Modi Seva Sadan Hospital, Ranchi
for opencast projects which are at par with the World Enterprises (DPE), Govt. of India from time to time.
of CBM in Jharia & Raniganj coalfields by the
technology. To achieve the high production target from f. H 10.61 Crore were utilized towards 3rd phase
consortium of CIL & ONGC. The Govt. has allotted two
large opencast mines, deployment of Electric Rope (ER) Budget for CSR activities of CIL is allocated based on of Thalassemia Bal Sewa Yojana
CBM blocks in 2002 to the consortium of ONGC–CIL
shovels of 42 Cum and Dump trucks of 240 T were made 2% of average net Profit of CIL (standalone) for three
on nomination basis for commercial development
during the past years, which are highest in sizes proposed immediately preceding financial years or H 2.00 per g. H 1.22 Crore were utilized towards construction
of CBM namely Jharia CBM block and Raniganj
in India so far. Using surface miners eliminates drilling tonne of total coal production of immediate preceding of 40 bedded ICU at 3rd floor of trauma centre
North CBM Block.
and blasting operations in the opencast projects and financial year of those subsidiaries of CIL which had not building of Silchar Medical College in Assam
CMPDI is technical consultant to CIL for the as such, the problem of working very near to inhabited incurred net loss in the immediately preceding financial
areas has been sorted out due to elimination of blasting year, whichever is higher. 2. Item – II of Schedule VII – Education &
development of these blocks. Jharia CBM
vibrations. Moreover, because of possible selective Livelihood
block is under Development Phase and 11
mining, the chances of contamination of produced coal CIL (HQ) undertakes CSR activities in whole of India a. H 10.77 Crore were utilized towards
development wells have been drilled. Revised Field
with extraneous materials has also been minimised. including the areas covered by subsidiaries. CSR activities construction of classrooms in govt. schools of
Development Plan of Raniganj North CBM block
are undertaken in the themes specified in Schedule VII of Dharwad district in Karnataka
has been approved.
Companies Act 2013.
9. Details of efforts on imported technology: b. H 2.50 Crore were utilized for reconstruction
CMPDI is also Principal Implementing Agency
Coal India has envisaged foreign collaboration CSR policy of CIL also contains broad guidelines of flood affected govt. school buildings in
(PIA) for the coal gasification projects at CIL and
with a view to: regarding implementation, monitoring and reporting Bagalkot district of Karnataka
its subsidiaries
of CSR activities. The policy is governed by provisions
Tender for selection of BOO processor for WCL coal Bring in proven and advanced technologies under Companies Act, 2013 or any other act that may be c. H 2.00 Crore were utilized towards ‘DigiVidya’
gasification project was floated twice in August,2022 and management skills for exploiting maximum introduced, Government guidelines and any other govt. project for providing smart classroom & ICT
and March 2023. However, no bid was received. resources from UG and OC mines, coal preparation, instructions applicable from time to time. labs in 11 coal mining districts of Jharkhand
coal exploration and other activities.
An R&D project titled “A Pilot Project on Major CSR projects undertaken in FY 2023-24 d. H 1.95 Crore were utilized towards setting
Underground Coal Gasification (UCG) to establish Exploration and exploitation of Methane from are as follows: up infrastructure of School of Experiential
technology in Indian Geo-mining condition”-Phase-I Coal bed, abandoned mine, shale gas, coal Learning at Ladakh
gasification, etc. 1. Item – I of Schedule VII – Healthcare, Sanitation
has been approved by CIL R&D Board. The project
& Nutrition e. H 1.62 Crore were utilized towards training of
is being implemented by CMPDI, Ranchi and ECL,
India aims to gasify 100 MT coal by 2030 and CMPDI a. H 14.39 Crore were utilized for providing MRI 450 youth in different trades at Jharsuguda
Sanctoria both as Principal Implementing Agency
is the Principal Implementing Agency (PIA) for the machine for neurology patients at Institute of districts of Odisha
(PIA) in association with Ergo Exergy Technologies
coal gasification projects at CIL and its subsidiaries. Neurosciences, Kolkata
Inc. (EETI), Canada as Sub-implementing Agency. f. H 1.19 Crore were utilized towards construction
In pursuance to the same, tender for selection of
BOO processor for WCL coal gasification project b. H 3.71 Crore were utilized in construction of Natural Fibre diversified product training
CBM and Shale gas related studies under
was floated twice in August, 2022 and March 2023. of prefabricated toilets at railway station in and development centre for women at
Promotional Exploration/Regional/Detailed
However, no bid was received. command areas of ECL Murshidabad, West Bengal
Exploration during 2023-2024 by CBM Lab- CMPDI
is carrying out studies related to “Assessment of g. H 1.13 Crore were utilized towards construction
The priority areas included acquisition of latest and c. H 43.96 Crore were utilized for construction
Coalbed Methane Gas-in-Place Resource of Indian of Service Building of Ramakrishna Mission
high productive underground mining / opencast mining of hostel for women sportspersons at Sports
Coalfields/Lignite fields” through boreholes drilled Centre for Human Excellence and Social
technologies, improvement in working in underground in Authority of India Netaji Subhas Southern
during promotional/regional/detailed exploration. Sciences 'Vivek Tirtha' at New Town, Kolkata
difficult geological conditions. Centre, Bengaluru and a 400 bedded hostel
CBM Lab under Promotional Exploration programme for sportspersons at Lakshmibai National
Emphasis is also being made for diversification of 3. Item – IV of Schedule VII – Environmental
completed field desorption studies in 15 boreholes Institute of Physical Education (LNIPE) at
R&D initiatives by taking up new projects in the field of Sustainability
for CBM and 5 boreholes for Shale Gas against a Gwalior, Madhya Pradesh
environmental sustainability, energy management & a. H 1.56 Crore were utilized for establishment
proposed annual target of 8 boreholes in FY2023-
digitization, reduction of carbon emission, renewable d. H 5.00 Crore were utilized for construction of of Sewage Treatment Plant (STP) at
24 thereby representing a substantial 56% growth
energy, use of AI & IoT, waste to wealth creation, girls’ hostel at Indian Institute of Technology, Mayapur, West Bengal
in annual revenue generated by the lab. This study
deployment of new techniques in exploration etc.
creates the data base for assessment of CBM &
278 279
2. Composition of CSR Committee (e). CSR amount spent or unspent for the financial year:
Corporate Overview
Number of meetings Number of meetings of Amount Unspent (in J)
Sl. Designation/Nature of
Name of Director of CSR committee CSR committee attended Total amount transferred to Amount transferred to any fund specified under
No. Directorship Total Amount Spent for the
held during the year during the year Unspent CSR Account as per Schedule VII as per second proviso to sub
Financial Year (in J Crore)
1 Sh. B. Rajesh chander Independent Director and 4 sub section (6) of Section 135 section (5) of Section 135
Chairman of the committee Amount Date of Transfer Name of the Fund Amount Date of Transfer
2 Sh. Punambhai Kalabhai Makwana Independent Director 4 98.56 NIL Not applicable --- NIL Not applicable
3 Smt. Nirupama Kotru Government Nominee Director 4 2
4 Sh. Vinay Ranjan Director (Personnel & Industrial 3
Relations) (f). Excess amount for set off, if any
5 Sh. Ghanshyam Singh Rathore Independent Director 2
Statutory Reports
Sl. Amount
Particular
No. (in J Crores)
3. Web-link where Composition of CSR (b). Two percent of average net profit of the
(1) (2) (3)
committee, CSR Policy and CSR projects company as per sub-section (5) of Section
(i) Two percent of average net profit of the company as per Section 135(5) 11.30
approved by the board are disclosed on the 135
(ii) Total amount spent for the Financial Year 98.56
website of the company H 11.30 crores (iii) Excess amount spent for the Financial Year [(ii) – (i)] 87.26
Web-link for composition of CSR committee: (iv) Surplus arising out of the CSR projects or programmes or activities of the previous 0.00
financial years, if any
https://www.coalindia.in/departments/csr/ (c). Surplus arising out of the CSR Projects or
(v) Amount available for set off in succeeding financial years [(iii) – (iv)] No amount is set-off
csr-committee/ programmes or activities of the previous
financial years
Web-link for CSR policy:
NIL
7. Details of Unspent CSR amount for the preceding three financial years:
https://www.coalindia.in/departments/csr/csr-policy/
(d). Amount required to be set-off for the Amount Balance Amount transferred to
Web-link for CSR projects: Amount Amount
financial year, if any transferred to amount in a fund specified under
spent remaining to
Preceding Unspent CSR Unspent CSR Schedule VII as per second
https://www.coalindia.in/departments/csr/csr-activities/ NIL Sl. in the be spent in Deficiency,
Financial Account under Account under proviso to sub-section (5) of
No. Financial succeeding if any
Year(s) sub-section sub-section section 135, if any
4. Executive summary along with the web-link (e). Total CSR obligation for the financial year Year financial
(6) of Section (6) of Section Amount Date of
of Impact assessment of CSR projects carried [(b)+(c)-(d)] (in J) years (in J)
135 (in J) 135 (in J) (in J) transfer
out in pursuance of sub-rule (3) of rule (8), if H 11.30 crores 1 2020-21 0.00 0.00 0.00 0.00 Not Applicable 0.00 NIL
applicable
2 2021-22 0.00 0.00 0.00 0.00 Not Applicable 0.00 NIL
As the average statutory CSR obligation as per sub- 3 2022-23 0.00 0.00 0.00 0.00 Not Applicable 0.00 NIL
6. (a). Amount spent on CSR Projects (both
section (5) of Section 135 of the Companies Act 2013, TOTAL 0.00 0.00 0.00 0.00
Ongoing Project and other than Ongoing
during the last three Financial Years was lesser than H
Project)
10 crores, the impact assessment provisions were not 8. Whether any capital assets have been created or acquired through Corporate Social Responsibility
applicable to CIL. However, six projects were identified H 98.10 crores
amount spent in the Financial Year:
for impact assessment on a voluntary basis. The work
of impact assessment was allotted to Xavier Institute of Yes
(b). Amount spent in administrative
Social Service (XISS), Ranchi. The impact assessment overheads If yes, enter the number of capital assets created/acquired:-
study is ongoing. On finalization of the study report, the
H 0.33 crores
same shall be placed before the competent authority and Ten (10)
shall be uploaded on CIL website.
(c). Amount spent on Impact Assessment, if Furnish the details relating to such asset(s) so created or acquired through CSR amount spent in the Financial Year:
applicable
5. (a). Average net profit of the company as per Attached as Annexure A
sub-section (5) of Section 135 H 0.13 crores
H 565.19 crores 9. Specify the reason(s), if the company has failed to spend two per cent of the average net profit as
(d). Total Amount spent for the Financial Year per Section 135(5)
[(a)+(b)+(c)] Not applicable
H 98.56 crores
Sd/- Sd/-
Shri. P. M. Prasad B. Rajesh chander
(Chairman & Managing Director) (Chairman CSR Committee)
DIN- 08073913 DIN- 02065422
Date: 17th June’ 2024
Place: Kolkata
280 281
Annexure A to the Directors' Report (CSR) for FY 23-24: Details of assets created or acquired through CSR Details of Entity/Authority/Beneficiary of the
Corporate Overview
Short particulars of the Pincode
registered owner
amount spent in FY 23-24 property or asset(s) of the Amount of
Sl. Date of CSR
[including complete property CSR Spent
No. Creation Registration
address and location of the or (J) Name Registered Address
Number, if
Details of Entity/Authority/Beneficiary of the property] asset(s)
Short particulars of the Pincode applicable
registered owner
property or asset(s) of the Amount of 1 2 3 4 5 6
Sl. Date of CSR
[including complete property CSR Spent
No. Creation Registration 8 Dormitory for students at 522001 04.11.2023 2925655 NA Andhra Pradesh Andhra Pradesh
address and location of the or (J) Name Registered Address
Number, if Andhra Pradesh Residential Residential Residential Degree
property] asset(s)
applicable Degree College, Guntur Degree College, Guntur
1 2 3 4 5 6 College Road, Beside Govt. College, Guntur College Road,
Statutory Reports
Hospital, Bridge Down, Beside Govt.
1 Construction of training shed 453441 13.04.2023 3776873 CSR00009234 Charm Padtran 160D, Vidur Nagar,
Sambasiva Pet, Guntur, Hospital, Bridge
and hostel building of the Udhyami Vikas Hawa Bangla, Indore
Andhra Pradesh - 522001 Down, Sambasiva
training institute 'Swarozgar Samiti - 452009, Madhya
Pet, Guntur, Andhra
Prashikshan Kendra', Dr. Pradesh
Pradesh - 522001
Ambedkar Nagar - 453441,
9 Hostel building & transport 643201 15.11.2023 3481358 CSR00007538 Desilva 4/164, K1, Sackatha
Madhya Pradesh
vehicle for school for Handicap Trust (village), Aravenu
2 Medical equipment, solar 792121, 27.07.2023 6458733 Not District Office of the Deputy
differently abled children (post), Kotagiri,
system and ambulance 792120 Applicable Administration Commissioner,
4/164, K1, Sackatha (village), Nilgiri - 643201,
at: (a). Community Health (NA) Changlang, Changlang District,
Aravenu (post), Kotagiri, Tamilnadu
Centre, Jairampur, Arunachal Arunachal Pradesh -
Nilgiri - 643201, Tamilnadu
Changlang, Arunachal Pradesh 792120
10 Hostel building for women 560056 23.12.2023 250000000 NA Sports Authority Loop Road, Nayanda
Pradesh – 792121
sportspersons at Sports of India Halli, Bengaluru -
(b). Sub centre Rima Putok, Authority of India Netaji Netaji Subhas 560056, Karnataka
Renuk, Longman village, Subhas Southern Centre, Southern
Changlang, Arunachal Loop Road, Nayanda Centre
Pradesh - 792120 Halli, Bengaluru - 560056,
3 Civil construction and 741235 07.08.2023 64000000 NA Indian Institute Barrackpore -
Karnataka
equipment at Indian Institute of Information Kalyani Expressway,
of Information Technology Technology Block A5, Block
(IIIT), Kalyani (contributed 5% (IIIT), Kalyani A, Kanchrapara,
of total initial project cost as Kalyani, West Bengal
one of the industry partners) - 741235
Barrackpore - Kalyani
Expressway, Block A5, Block
A, Kanchrapara, Kalyani,
West Bengal - 741235
4 Sewage treatment plant 741302 18.09.2023 23394200 CSR00005241 International Hare Krishna Land,
at Mayapur, West Bengal Society for Juhu, Mumbai -
Mayapur, Nadia District - Krishna 400049, Maharashtra
741302, West Bengal Consciousness
5 Hostel facility at Vidya Bharti 461775 19.09.2023 19855429 CSR00005726 Bhaoo Saheb Govind Nagar,
School Govind Nagar, Paliya, Bhuskute Smriti Paliya, Pipariya,
Pipariya, Hoshangabad - Lok Nyas Hoshangabad -
461775, Madhya Pradesh 461775, Madhya
Pradesh
6 Construction of cultural hall 389001 19.09.2023 7836370 CSR00016106 Shri Village Adadara,
at Gandhi deaf and dumb Panchmahal Taluk Kalol,
school 26, Gangotrinagar, Anusuchit Jati Panchmahals -
Godhra - 389001, Gujarat Education Trust 389341, Gujarat
7 Construction of Natural 742101 09.10.2023 20790677 CSR00000812 Bharat 211, Rashbehari
Fibre diversified product Sewashram Avenue, Kolkata
training and development Sangha - 700019, West
centre for women Raninagar, Bengal
Ajodhya Nagar P, Belia Khari,
Murshidabad - 742101, West
Bengal
282 283
Annexure 22 not appear in the final cause list. On 9th August 2023, the Ors. vs. CCI, MPPGCL, WBPDCL & Sponge Iron Manufacturers
Corporate Overview
Respondent moved a letter to mention the matter orally Association & CIL & Anr. vs. CCI & GHCL
Significant and Material Orders passed by the before the Supreme Court as the matter had been pending
for several years. However, the matter has not appeared a) Name of the Authority: NCLAT
Regulators or Courts etc. on the mentioning list of the Supreme Court as yet
b) Brief of the Case: This case originated from 4 separate
c) Current Status: The matter was last listed before a bench Information(s) filed by MPPGCL, WBPDCL and Sponge
comprising Hon’ble Mr. Justice Pankaj Mithal and Hon’ble Iron Manufacturers Association alleging CIL and all 7
Case No. 1: C.A No. 2845 of 2017, CIL & Anr. vs. CCI & Sai The main civil appeal in the SWPL matter was last listed
Mr. Justice Prashant Kumar Mishra on 13th March 2024. subsidiaries of abuse of dominance, imposition of unfair
Wardha Power Ltd and T.P. (Civil) No. 16-21 of 2023, CIL vs. CCI before a bench comprising Hon’ble Mrs. Justice B.V.
When the matter was called out, Ms. Madhavi Divan, Ld / discriminatory conditions in FSA provisions without any
Nagarathna and Hon’ble Mr. Augustine George Masih on
a) Name of the Authority: Supreme Court of India Sr Advocate, informed the Bench that there are certain bilateral discussions with TPPs to finalize the terms and
19th March 2024. Due to paucity of time, the matter did
limited overlapping issues between this matter and Civil conditions of FSA.
b) Brief of the Case: Allegations of abuse of dominance and not reach. The matter was mentioned before the Bench
Statutory Reports
unfair and discriminatory conduct by CIL and WCL by: (i) and it was highlighted to the Bench that the matter had Appeal No. 2845/2017 (Sai Wardha matter) in relation to
CCI decided that CIL abused its dominant position
delaying FSA execution; and (ii) forcing the Informant to been pending for several years and CIL / WCL were the issue of dominance. She stated that the Sai Wardha
in drafting and finalizing of FSAs, grade declaration /
enter into one-sided anti-competitive Cost Plus FSAs to suffering losses on a daily basis due to the operation of matter was listed before another Bench, and accordingly,
review, supplies through MOUs, DDQ and supply of
Sai Wardha Power Limited (SWPL). interim orders. The Bench was further reminded that 19th the Bench could benefit from the order of the other Bench
ungraded coal. However, no penalty was imposed since
March 2024 was set as the date for the hearing based listening to the Sai Wardha matter on the overlapping
it had already been imposed in the Mahagenco case. CIL
CCI held that CIL / subsidiaries were dominant in on repeated mentioning requests by CIL / WCL taking issue, before it takes up this matter for hearing. The
filed an appeal before the erstwhile COMPAT which was
the relevant market by virtue of the Coal Mines cognizance of these factors. However, despite repeated CCI counsel concurred with Ms. Divan’s suggestion.
tagged with Mahagenco appeal. The matter was re-heard
(Nationalization) Act, 1973 and policy scheme, persuasive requests, the Bench was not inclined to set a Accordingly, the matter is now listed on 24th April 2024.
by CCI in 2016.
among other factors. specific next date of hearing at that moment. The Bench
Case No. 3: Competition Appeal (AT) No. 1-3 of 2017
stated that the daily order / case status would reflect In Apr’ 17, the CCI passed an order re-iterating its
On 05.12.2014, CIL filed an appeal along with an IA (Case No. 3, 11 & 59 of 2012 before CCI) CIL & Ors. vs. CCI,
the next date. previous findings and observations and relying heavily on
before the erstwhile COMPAT for a stay of the CCI’s Mahagenco & GSECL
the Mahagenco Order. No penalty was imposed in this
direction. COMPAT heard the matter during Mar’ 15 The case status for the matter indicates that it is next likely
a) Name of the Authority: NCLAT Order as well.
and Oct-Nov’ 15, and vide Order dated 09.12.2016, to be listed on 15th July 2024.
upheld CCI’s Order. CIL and WCL appealed against the CIL filed an appeal against this decision which is pending
b) Brief of the Case: This case originated from 3 separate
COMPAT’s Order before the Supreme Court. Case No. 2: C.A No. 5697 of 2017, CIL v. CCI and Bijay Poddar before the NCLAT. With respect to Case No. 8 of 2014,
Information(s) filed by Mahagenco & GSECL alleging
CIL and some of its subsidiaries of abuse of dominance, an Information was filed by GHCL against CIL and WCL.
In August 2017, CIL/WCL filed an interlocutory a) Name of the Authority: Supreme Court of India
imposition of unfair / discriminatory conditions in FSA In this case, CCI’s findings on CIL’s abuse of dominant
application (IA) to raise additional grounds in relation
b) Brief of the Case: An information was filed alleging that provisions relating to grade spillage, sampling, supply of position, were related to LOA terms and conditions,
to the applicability of the Competition Act 2002 to CIL
CIL abused its dominance in relation to the terms and ungraded coal, compensation for stones / oversized coal, process of drafting FSA, reduction of ACQ through
and its subsidiaries. The CCI & SWPL filed their replies to
conditions for imposing non-reciprocal Earnest Money termination, Force Majeure conditions, etc. without any MOU, cumulative effect of MOU, addendum to FSA, CG
this application. CIL/WCL filed rejoinders to both replies.
Deposit under the ‘Spot e-auction’ scheme making the bilateral discussions with TPPs. extension, provisions regarding SD, sampling, grade
Having noted that various appeals on similar issues
scheme arbitrary since it imposed a penalty on bidders review and DDQ clause.
involving CIL are pending before the NCLAT, the Bench
who failed to offer full or part of the successful bid, but CCI vide Order dated 09.12.2013, imposed a penalty
orally directed that CIL file a transfer petition, seeking the c) Current Status: The matter was last listed before the
not on CIL if they failed to supply coal. of INR 1773 Crores on CIL which filed an appeal before
transfer of the appeals pending before the NCLAT to the NCLAT on 9th April 2024 where due to paucity of time,
the erstwhile COMPAT. One of CIL’s contentions was that
Supreme Court. Accordingly, a transfer petition was filed CCI passed an order against CIL stating that this amounted it could not be taken up by the Bench. Accordingly, the
principles of natural justice had not been adhered to and
by CIL. On 22nd March, 2023, the Supreme Court ordered to CIL having abused its dominant position. CIL filed matter is now listed on 22nd July 2024.
the CCI members who decided the matter were not the
/ allowed the transfer of the cases before the NCLAT to
an appeal against the CCI’s order before the erstwhile same as those who heard the arguments. Accordingly, re-
the Supreme Court. Case No. 5: Case No. 11 of 2017; KPCL vs. CIL, MCL & WCL,
COMPAT which, vide Order dated 20.03.2017, dismissed hearings took place on 17th May, 2016 before CCI which
Now Competition Appeal (AT) 36 of 2018, Appeal filed by
The Supreme Court vide judgment dated 15.06.2023, CIL’s appeal and directed CIL to modify the terms of the passed an order dated 24.03.2017 with similar findings
KPCL against CCI’s Order dated 16.03.2018
disposed of the IA for additional grounds (i.e., CIL’s Spot e-auction scheme. CIL filed an Appeal before the as in the Order dated 09.12.2013. Considering the
argument that the Competition Act does not apply to CIL) Supreme Court against the COMPAT’s said order. changes made to sampling and other clauses in FSA and a) Name of the Authority: NCLAT
and the Transfer Petition. The Supreme Court held that the the constraints imposed by various ministries upon CIL,
The Supreme Court vide Order dated 05.05.2017 granted b) Brief of the Case: On 27th March, 2017, an information
Competition Act applies to CIL / subsidiaries but clarified CCI reduced the penalty to INR 591 crores.
a stay on COMPAT’s Order. Respondents filed their reply was filed by KPCL against CIL, MCL and WCL, raising a
that CIL will be entitled to take any defences available
to CIL’s appeal and CIL has also filed its rejoinder. CIL filed an appeal against CCI’s fresh order before the few issues which had all been dealt with by CCI in the
under the law to demonstrate that it has not abused its
NCLAT. Stay has been granted on the operation of the Mahagenco case.
dominant position. The Supreme Court ordered that CIL’s On 18th February, 2019, Mr. P. S. Narasimha on behalf
Order. The opposite parties have filed replies to the
appeal in the SWPL matter will be decided on merits of CIL, informed the Supreme Court that certain issues CCI vide Order dated 16.03.2018, dismissed the
appeal and rejoinders have been filed by CIL.
and also that all the cases transferred from NCLAT to the of constitutional importance were pending before the complaint filed by KPCL stating that since the issues
Supreme Court (by way of the transfer petition) be sent Supreme Court in Civil Appeal No. 2845/2017 (Sai c) Current Status: The matter was last listed before the raised by KPCL had already been dealt with in previous
back to be decided on their own merits. Wardha matter) and the outcome of same would impact NCLAT on 9th April 2024 where due to paucity of time, cases. KPCL filed an appeal against CCI’s decision which
this case as well. The bench adjourned the matter. it could not be taken up by the Bench. Accordingly, the is pending before the NCLAT.
c) Current Status: Coal continues to be supplied to SWPL in
matter is now listed on 22nd July 2024.
accordance with the Supreme Court’s interim order from CIL had opted for the matter to be listed through a Owing to the pendency of the transfer petition before
3rd August, 2017 and 6th November, 2017 (Interim Orders). physical hearing when the court re-opens, the matter did Case No. 4: Competition Appeal (AT) No. 12 of 2017, (Case the Supreme Court, a stay on these proceedings has
No. 5 & 7, 37 & 44 of 2013 before CCI) & Competition Appeal been ordered by the Supreme Court. NCLAT has been
(AT) No. 11 of 2017, (Case No. 8 of 2014 before CCI), CIL & informed about the stay granted by the Supreme Court.
284 285
c) Current Status: The matter was last listed before the Since 28th November, 2017, NCLAT has been adjourning Annexure 23
Corporate Overview
NCLAT on 22nd February 2024. When the matter was called the matter as the main appeal against the CCI’s Order in
out, the counsel for KPCL sought an adjournment and
accordingly, the matter will now be listed on 6th May 2024.
the SWPL matter is pending before the Supreme Court.
On 09th April, 2018, SWPL filed an application seeking the Corporate Governance Report
execution of the Order passed by COMPAT. Considering
Case No. 6: CA. No. 2 of 2015 (TA (AT) No. 01 of 2017) the Supreme Court’s interim Order dated 10.04.2018, 1. Company’s Philosophy on Code of Directors. CIL had requested Ministry of Coal, Govt.
(SWPL v. CIL & Ors) NCLAT observed that the compensation case and Governance: of India to appoint a Woman Independent Director to
the execution application should await the Supreme comply with SEBI LODR’2015 requirements.
a) Name of the Authority: NLCAT The Directors present Corporate Governance Report of
Court’s decision.
the Company for the year ended 31st March, 2024 in terms 2.3 Age limit and tenure of Directors
b) Brief of the Case: Claim of compensation filed by
c) Current Status: Since 28th November 2017, the NCLAT of Regulation 34(3) read with Schedule V of SEBI (Listing
SWPL against WCL/CIL arising out of CCI and COMPAT’s The age limit of Chairman cum Managing Director and
has been adjourning the matter as the main appeal is Obligations and Disclosure Requirements) Regulations,
Orders returning a finding of abuse of dominance other whole-time functional Directors is 60 Years. The
Statutory Reports
pending before the Supreme Court. On 9th April 2018, 2015 (“Listing Regulations”). Corporate Governance is for
against CIL on account of delay in FSA execution, faulty Chairman cum Managing Director and other whole-
SWPL filed an application seeking the execution of the ensuring values, ethical business conduct, transparency,
pricing mechanism, inferior quality of coal supplied, costs time Functional Directors are appointed for a period
Order passed by the COMPAT. Considering the interim disclosures as per laws, rules and guidelines. CIL is
related to bank guarantees and refunds for performance of five years from the date of assumption of charge or
order passed by the Supreme Court on 10th April 2018, committed to observe Corporate Governance practices
incentives already paid to CIL. till the date of superannuation of the incumbent or till
the NCLAT bench observed that the compensation case at all levels to achieve its objectives.
further orders from the Government of India whichever
In Apr’ 15, SWPL filed an application under Section 53N and the execution application should await the decision
event occurs earlier. None of the Directors on the Board
of the Competition Act, claiming compensation of INR of the Supreme Court. 2. Board of Directors: hold directorships in more than ten public companies.
908 crore. Subsequently, on 30.01.2017, SWPL filed IA
As the Supreme Court by judgment dated 15.06.2023 2.1 Size of the Board Further none of them is a member of more than seven
with claims of over INR 1500 crore.
directed that appeals pending before the NCLAT be committees or Chairman of more than five committees
Coal India Ltd is a Government Company within the
On 7th March, 2017, CIL / WCL filed a response to IA. transferred back to be decided on merits, NCLAT may across all the public companies in which he is a Director.
meaning of Section 2(45) of Companies Act, 2013. As per
NCLAT has not started hearing the matter as yet. CIL filed also start hearing the compensation application in due Necessary disclosures regarding Committee positions in
the Articles of Association of the Company, the power to
a reply to the main compensation application on 11th course. The next date of hearing is awaited. The matter other public companies as on 31st March, 2024 have been
appoint Directors vests with The President of India. The
was last heard on 2nd March 2023. made by the Directors. Government Nominee Directors
September, 2017 and SWPL has filed Rejoinder. CIL has Chairman is appointed by the President and the terms
representing Ministry of Coal, retire from the Board on
also filed additional submissions to address new issues and conditions of his appointment are determined by
ceasing to be officials of Ministry of Coal or till further
raised by SWPL in its rejoinder. the President. In addition to Chairman, the President also
orders from the Government of India whichever event
appoints the whole time Functional Directors and other
occurs earlier.
Directors in consultation with the Chairman. Functional
Directors and Government nominee Directors are liable Independent Directors are appointed by the Government
to retire by rotation. Chairman and Independent Directors of India. The Independent Directors have fulfilled the
are not liable to retire by rotation. In terms of the Articles conditions of independence specified in Section 149(6)
of Association of the Company, the number of Directors of the Companies Act, 2013 and Regulation 16(b) of
of the Company shall not be less than three. These Listing Regulations, 2015.
directors may be either whole time functional Directors
or part time Directors. 2.4 Board Meetings
During the year 2023-24, Fourteen (14) Board meetings
2.2 Composition of Board
were held on 19-04-2023, 07-05-2023, 30-05-2023, 20-
As on 31st March’2024, Board of Directors comprised 06-2023, 28-06-2023, 19-07-2023, 08-08-2023, 23-08-
of Chairman, 5 Functional Directors, 2 Non-Executive 2023, 25-09-2023, 10-11-2023, 29-12-2023, 31-01-2024,
Directors (Government Nominees) and 7 Independent 12-02-2024 and 26-03-2024.
The number of Board Meetings attended by the Directors including attendance at the last Annual General Meeting, number
of another Directorship etc. during 2023-24 were as follows:
No. of No. of other

Attended
Board Director-
the last
Sl. Period Up to meetings ship as on
Name Designation AGM
No. 31.03.2024 attended 31.3.2024 in
held on
during Listed public
23.08.23
23-24 companies
1 Shri P.M. Prasad 01.07.23 to 31.03.24 Chairman cum Managing 9 Yes Nil
Director
2 Shri Pramod Agarwal 02.02.20 to 30.06.23 Chairman cum Managing 5 N.A. Nil
Director
3 Dr B. Veera Reddy 01.02.22 to 31.03.24 Director (Technical) 13 Yes Nil
4 Dr B. Veera Reddy 29.12.22 to 02.05. 23 Director (Finance)-Addl. 1 N.A. Nil
Charge
286 287
No. of No. of other o) Non-compliance of any regulatory, statutory or listing 3. As required under Regulation 25(9) of LODR 2015
Corporate Overview
Attended requirements and shareholders service such as non- as amended, the Board of Directors of the Company
Board Director-
the last payment of dividend, delay in share transfer etc. took on record the declaration and confirmation
Sl. Period Up to meetings ship as on
Name Designation AGM submitted by the Independent Directors under
No. 31.03.2024 attended 31.3.2024 in
held on 2.6 Committees of the Board of Directors Regulations 25(8) after undertaking due assessment
during Listed public
23.08.23 The Board had constituted following statutory of the veracity of the same. Board of Directors in its
23-24 companies
Committees as required under SEBI (LODR) Regulations 464th Board meeting held on 2nd May’24 ‘took on
5 Shri Debasish Nanda 03.05.23 to 07.02.24 Director (Finance)-Addl. 11 Yes Nil
2015 and Companies Act 2013: - record’ the declaration submitted by Independent
Charge
Directors after undertaking due assessment of the
6 Shri Mukesh Choudhary 23.12.22 to 31.03. 24 Director (Marketing) 14 Yes Nil i) Audit Committee. veracity of the same. CIL Board has also confirmed
7 Shri Mukesh Agrawal 08.02.24 to 31.03.24 Director (Finance) 2 N.A. Nil
that in its opinion, the Independent Directors fulfill
8 Shri Vinay Ranjan 28.07.21 to 31.03.24 Director (Personnel) 13 Yes Nil ii) Nomination and Remuneration Committee.
the conditions specified in SEBI (LoDR) regulations
Statutory Reports
9 Shri Debasish Nanda 11.07.22 to 31.03.24 Director (Business 13 Yes Nil
Development) iii) Stakeholders Relationship Committee. and are independent of the management.
10 Shri Nagaraju Maddirala 22.02.23 to 31.03.24 Government Nominee 13 Yes Nil
iv) Risk Management Committee. 4. None of the Directors in the Company are
Director
related to each other.
11 Ms. Nirupama Kotru 15.06.21 to 31.03.24 Government Nominee 11 Yes 1
v) Corporate Social Responsibility Committee.
Director 5. No Equity Shares of Coal India Limited is held by
12 Prof. G. Nageswara Rao 01.11.21 to 31.03.24 Independent Director 14 Yes Nil vi) Independent Director Committee. Non-Executive Directors. Further Company has not
13 Dr Arun Kumar Oraon 05.11.21 to 31.03.24 Independent Director 14 Yes Nil issued any Convertible instruments.
14 Shri Kamesh Kant Acharya 02.11.21 to 31.03.24 Independent Director 14 Yes Nil In addition, CIL has two non-statutory Committees as under
15 CA Denesh Singh 01.11.21 to 31.03.24 Independent Director 14 Yes Nil 6. None of Independent Directors of the Company has
i) Share Transfer Committee.
16 Shri Punambhai Kalabhai 02.11.21 to 31.03.24 Independent Director 14 Yes Nil resigned before the expiry of his/her tenure.
Makwana
ii) Empowered Sub-Committee for Evaluation,
17 Shri B. Rajeshchander 01.11.21 to 31.03.24 Independent Director 14 Yes Nil 7. As stipulated by SEBI (LODR) Regulations 2015, the
Appraisal and Approval of Projects
18 Shri Ghanshyam Singh 01.03.23 to 31.03.24 Independent Director 13 Yes Nil list of core skills/expertise/competence of the Board
Rathore Other Disclosures: of Directors identified by the Board of Directors as
required in the context of its business and sector for
1. Ms. Nirupama Kotru is a Govt. Nominee director in it to function effectively and those actually available
Sl No. 1: Chairman cum Managing Director from f) Show cause, demand, prosecution notices and Hindustan Zinc Ltd from 26.07.2021 which is a listed with the Board are as under: -
01.07.2023. Sl. No. 2: Ceased to be Chairman cum penalty notices which are materially important. Company. She is also a Govt. Nominee director in
Managing Director w.e.f. 30.06.2023. Sl. No.4: Ceased BALCO Ltd which is subsidiary of Vedanta Ltd. i. Executive Leadership
to be Director (Finance) - Addl. Charge w.e.f 02.05.2023. g) Fatal or serious accidents, dangerous occurrences,
any material effluent or pollution problems. ii. Governance Experience
Sl. No. 5: Director (Finance) - Addl. Charge from 2. As required under Section 149(7) of the Companies
03.05.2023 till 07.02.2024. Sl. No. 7: Director (Finance) Act’13 and Regulations 25(8) of SEBI (LODR) iii. Financial Acumen
h) Any material default in financial obligations to and
w.e.f 08.02.2024. Regulations 2015 as amended, 7 Independent iv. Sectoral/Domain knowledge
by the company, or substantial non-payment for
Directors had submitted declaration that they meet v. Marketing Knowledge
2.5 Information placed before the Board of Directors: goods sold by the company.
the Criteria of Independence as provided in Clause
vi. Human Resource Management
The Company provides information as set out in i) Any issue, which involves possible public or product (b) of Regulation 16(1) and they are not aware of
any circumstance or situation, which exist or may be vii. Project Formulation and Management
Regulation 17(7) read with Part A of Schedule II of liability claims of substantial nature, including
Listing Regulations, 2015 to the Board to the extent any judgment or order which, may have passed reasonably anticipated that could impair or impact viii. Strategy/Risk Management
it is applicable and relevant. The Board has complete strictures on the conduct of the listed entity or taken his/her ability to discharge his/her duties with an ix. Occupational Health, safety and environment
access to any information within the Company. The an adverse view regarding another enterprise that objective independent judgment and without any
information regularly supplied to the Board inter-alia may have negative implications on the listed entity. external influence. This was approved by Board in its 386th meeting held
included the following: on 6th July’ 2019. Further with effect from the financial
j) Details of any joint venture or collaboration agreement. year ended March 31, 2020, the names of directors
a) Annual operating plans and budgets who have such skills / expertise / competence as
and any updates. k) Transactions that involve substantial payment towards required is to be disclosed. Company Board at its
goodwill, brand equity, or intellectual property. 465th meeting held on 10th May’ 2024 approved
b) Capital budgets and any updates.
the same for financial year 2023-24 as given
l) Significant labour problems and their proposed
c) Quarterly financial results of the company and its in the table : -
solutions. Any significant development in Human
operating divisions or business segments. Resources/ Industrial Relations front like signing
of wage agreement, implementation of Voluntary
d) Minutes of meetings of audit committee and other
Retirement Scheme etc.
committees of the board.
m) Sale of investments, if any, subsidiaries, assets
e) The information if any on recruitment and
which are material in nature and not in normal
remuneration of senior officers just below the
course of business.
level of board of directors including appointment
or removal of Chief Financial Officer and the n) Quarterly details of foreign exchange exposures and
Company Secretary. the steps taken by the management to limit the risks
of adverse exchange rate movement, if material.
288 289
3. Audit Committee
& Environment
Health, Safety
Occupational
Corporate Overview
(A) Brief description of terms of Reference
CIL constituted an Audit Committee of its Board of Directors w.e.f. 20th July’ 2001 and the Audit Committee was re-constituted
by the Board in its 433rd meeting held on 12th Nov’2021 consisted of 4 Independent Directors, one Government Nominee
Director, one Whole Time Director (Director Technical) and one permanent Invitee (Director Finance). The composition,
Strategy/Risk
Management
quorum, powers, role and scope are in accordance with Section 177 of the Companies Act, 2013 and the provisions of
Regulation 18 of SEBI (LODR) 2015.
Director (Finance), E.D. (Finance), G.M. (Internal Audit) and Statutory Auditors [wherever mandated] are invited to the Audit
Committee Meeting. Company Secretary acts as the Secretary to the Committee as per Regulation 18(1) (e) of the Listing
Regulations. Senior Functional executives are also invited as and when required to provide necessary clarification to the
Formulation and
Management
Statutory Reports
Committee. Internal Audit Department provides necessary support for holding and conducting Audit Committee meeting.
Project
(B) Composition, Meetings and Attendance of Audit Committee.

During the year 2023-24, Eight (8) Audit Committee meetings were held on 07.05.2023, 20.06.2023, 08.08.2023, 25.09.2023,
10.11.2023, 31.01.2024, 12.02.2024 and 18.03.2024. The details are as under:
Management
Sl. No. of meetings

Skills/Expertise/Competence
Resource
Human
Name of the Director Designation Status

No attended
1 CA Kamesh Kant Acharya Independent Director Chairman 8
2 CA Denesh Singh Independent Director Member 8
3 Shri Bhojarajan Rajesh Chander Independent Director Member 7
knowledge
Marketing
4 Prof. Nageswara Rao Gollapalli Independent Director Member 8

5 Smt. Nirupama Kotru Govt. Nominee Director Member 7
6 Dr. B. Veera Reddy Director (Technical) Member 8
(C) Scope of Audit Committee: - (d) significant adjustments made in the financial
knowledge
Sectoral/
Domain
statements arising out of audit findings;

The role of the Audit Committee shall include
the following: (e) compliance with listing and other legal
requirements relating to financial statements;
1) oversight of the listed entity’s financial reporting
process and the disclosure of its financial information
Financial
(f) disclosure of any related party transactions;

Acumen
to ensure that the financial statement is correct,

sufficient and credible; (g) modified opinion(s) in the draft audit report;
2) recommendation for appointment, remuneration 5) reviewing, with the management, the quarterly
Executive Governance
Leadership Experience
and terms of appointment of auditors of financial statements before submission to the

the listed entity; board for approval;
3) approval of payment to statutory auditors for any 6) reviewing, with the management, the statement of
other services rendered by the statutory auditors; uses / application of funds raised through an issue
(public issue, rights issue, preferential issue, etc.),
4) reviewing, with the management, the annual the statement of funds utilized for purposes other
financial statements and auditor's report thereon than those stated in the offer document / prospectus
before submission to the board for approval, with / notice and the report submitted by the monitoring
Shri Mukesh Agrawal (From 08.02.24)
particular reference to:

Shri Punambhai Kalabhai Makwana
agency monitoring the utilization of proceeds of

Shri Pramod Agrawal (till 30.06.23)
Shri P.M. Prasad (From 01.07.23)
Shri Bhojarajan Rajesh Chander
a public or rights issue, and making appropriate

Shri Ghanshyam Singh Rathore
Prof. Nageswara Rao Gollapalli
(a) matters required to be included in the

Shri S N Tiwary (till 30.04.22)
recommendations to the board to take up steps

director’s responsibility statement to be
CA Kamesh Kant Acharya
in this matter;
Shri Nagaraju Maddirala
included in the board’s report in terms of

Shri Mukesh Choudhary
Dr. Arun Kumar Oraon
clause (c) of sub-section (3) of Section 134 of

Shri Debasish Nanda
Smt. Nirupama Kotru
7) reviewing and monitoring the auditor’s

Name Of Directors
Dr B. Veera Reddy
the Companies Act, 2013;

CA Denesh Singh
Shri Vinay Ranjan
independence and performance, and effectiveness

of audit process;
(b) changes, if any, in accounting policies and
practices and reasons for the same; 8) approval or any subsequent modification of
transactions of the listed entity with related parties;
(c) major accounting entries involving estimates
based on the exercise of judgment 9) scrutiny of inter-corporate loans and investments;
by management;
290 291
10) valuation of undertakings or assets of the listed 24) Reviewing the follow up action taken on the (B) Composition, Name of members and chairperson and meeting details
Corporate Overview
entity, wherever it is necessary; recommendations of Committee on Public
The Composition of Nomination and Remuneration Committee is pursuant to the provisions of Section 178 of the Companies
Undertakings (COPU) of the parliament;
11) evaluation of internal financial controls and risk Act, 2013 and Regulation 19 of SEBI LODR 2015.
management systems; 25) Reviewing the financial statement of the
During the year 2023-24, Two (2) Nomination and Remuneration Meeting was held on 21.12.23 and 29.12.23. The
subsidiary companies;
12) reviewing, with the management, performance of details are as under:
statutory and internal auditors, adequacy of the 26) Review compliance of prohibition of
Sl. Meeting
internal control systems; Insider Trading code; Name of the Director Designation Status
No attended
13) reviewing the adequacy of internal audit function, 27) Review the declaration of financial statements 1. Prof. G. Nageswara Rao Independent Director Chairman 2
if any, including the structure of the internal audit by the CEO/CFO. 2. CA Kamesh Kant Acharya Independent Director Member 2
department, staffing and seniority of the official 3. Dr. Arun Kumar Oraon Independent Director Member 2
Statutory Reports
heading the department, reporting structure (D) Review of information by Audit Committee: 4. Shri Vinay Ranjan Director (P & IR), CIL Permanent Invitee 2
coverage and frequency of internal audit; The audit committee shall mandatorily review the
following information: (C) Role of Nomination and Remuneration committee: 6. Recommend to the board, all remuneration, in
14) discussion with internal auditors of any significant
whatever form, payable to senior management.
findings and follow up there on; (1) management discussion and analysis of financial Role of committee shall, inter-alia, include the following:
condition and results of operations; (D) Performance evaluation Criteria for Independent
15) reviewing the findings of any internal investigations 1. Formulation of the criteria for determining
Directors:
by the internal auditors into matters where there is (2) management letters / letters of internal control qualifications, positive attributes and independence
suspected fraud or irregularity or a failure of internal weaknesses issued by the statutory auditors; of a director and recommend to the board of MCA vide notification dated 5th July’2017 has exempted
control systems of a material nature and reporting directors a policy relating to, the remuneration the same for Government Companies
the matter to the board; (3) internal audit reports relating to internal control of the directors, key managerial personnel and
weaknesses; and other employees;
5 Stakeholders Relationship Committee.
16) discussion with statutory auditors before the audit
commences, about the nature and scope of audit (4) the appointment, removal and terms of remuneration 1A. For every appointment of an independent director, (A) Brief description of terms of reference
as well as post-audit discussion to ascertain any of chief internal auditor shall be subject to review by the Nomination and Remuneration Committee
Shareholders’ / Investors’ Grievance Committee was
area of concern; the audit committee. shall evaluate the balance of skills, knowledge
constituted by CIL Board of Directors in pursuance of
and experience on the Board and on the basis
(5) statement of deviations: Listing Agreement in its 258th meeting held on 05-08-2010.
17) to look into the reasons for substantial defaults in of such evaluation, prepare a description of the
In compliance with the provisions of Section 178(5) of the
the payment to the depositors, debenture holders, role and capabilities required of an independent
(a) quarterly statement of deviation(s) including Companies Act, 2013 and Listing Agreement, the Board
shareholders (in case of non-payment of declared director. The person recommended to the Board for
report of monitoring agency, if applicable, had renamed the “Shareholders’/Investors’ Grievance
dividends) and creditors; appointment as an independent director shall have
submitted to stock exchange(s) in terms of Committee” as “Stakeholders’ Relationship Committee”
Regulation 32(1). the capabilities identified in such description. For
18) to review the functioning of the whistle in its 307th Board Meeting held on 29th May’2014.
the purpose of identifying suitable candidates, the
blower mechanism;
(b) annual statement of funds utilized for purposes Committee may: The committee was re-constituted in 433rd Board Meeting
19) approval of appointment of chief financial officer other than those stated in the offer document/ held on 12th November 2021 comprising of 1 Independent
prospectus/notice in terms of Regulation 32(7). a) use the services of an external
after assessing the qualifications, experience and Director and two Functional Directors. The committee was
agencies, if required;
background, etc. of the candidate; again re-constituted at 445th Board meeting held on 10th
4. Nomination and Remuneration Committee b) consider candidates from a wide range August 2022 after appointment of Shri Debasish Nanda
20) Carrying out any other function as is mentioned in as Director (Business Development) in CIL Board. Further,
of backgrounds, having due regard to
the terms of reference of the audit committee. (A) Brief description of terms of reference the committee was again reconstituted at 463rd Board
diversity; and
CIL being a Central Public Sector Undertaking, Meeting held on 26th March’24 after appointment of Shri
21) reviewing the utilization of loans and/ or advances
appointment and tenure of Functional Directors are done c) consider the time commitments of Mukesh Agrawal as Director (Finance) in CIL Board.
from/investment by the holding company in the
by Govt. of India. Their remuneration is also fixed by Govt. the candidates.
subsidiary exceeding rupees 100 crore or 10% of The Stakeholders’ Relationship Committee is constituted
of India. A Remuneration Committee was constituted by
the asset size of the subsidiary, whichever is lower 2. Formulation of criteria for evaluation of performance in line with the provisions of Regulation 20 of SEBI
CIL Board of Directors in its 249th meeting held on 10th
including existing loans / advances / investments of independent directors and the board of directors; Listing Regulations read with Section 178(5) of the
April’ 2009. In compliance with Section 178 of Companies
existing as on the date of coming into force Companies Act 2013.
Act, 2013, the Board had renamed the “Remuneration
of this provision 3. Devising a policy on diversity of board of directors;
Committee” as “Nomination and Remuneration
B) The role of Stakeholder Relationship Committee
22) Consider and comment on rationale, cost-benefits Committee” in its 303rd meeting held on 14th Jul’14. This 4. Identifying persons who are qualified to become includes the following:
and impact of schemes involving merger, demerger, committee was last re-constituted in the 455th Board directors and who may be appointed in senior
held on 19th July’2023 comprising of three Independent (1) Resolving the grievances of the security holders
amalgamation etc., on the listed entity and management in accordance with the criteria laid
Directors and One permanent Invitee (Director P & IR). of the listed entity including complaints related to
its shareholders. down, and recommend to the board of directors
The provisions of the Companies Act, 2013 relating to transfer/transmission of shares, non-receipt of annual
their appointment and removal.
23) Reviewing the follow up action taken on the audit criteria for appointment of Director(s), policy relating report, non-receipt of declared dividends, issue of
observations of C & AG Audit; to the remuneration of Director(s) and performance 5. Whether to extend or continue the term of new/duplicate certificates, general meetings etc.
evaluation pertaining to NRC shall not be applicable to appointment of the independent director, on the
(2) Review of measures taken for effective exercise of
Government Companies. basis of the report of performance evaluation of
voting rights by shareholders.
independent directors.
292 293
(3) Review of adherence to the service standards adopted by the listed entity in respect of various services being rendered H) Unclaimed Dividend Status as on 31.03.2024 & Due Date of transfer to IEPF: -
Corporate Overview
by the Registrar & Share Transfer Agent.
Due date of
DESCRIPTION AMOUNT (in INR)
(4) Review of the various measures and initiatives taken by the listed entity for reducing the quantum of unclaimed dividends transfer to IEPF
and ensuring timely receipt of dividend warrants/annual reports/statutory notices by the shareholders of the company. IST INTERIM 2016-17 15402937.50 05.04.2024
2ND INTERIM 2016-17 1900874.00 25.04.2024
C) Composition, name of the non-executive director heading the committee and Meeting Details
INTERIM DIVIDEND 2017-18 9087208.00 09.04.2025
During the year 2023-24, One (1) Stakeholders Relationship Committee meeting was held on 21.12.2023. IST INTERIM DIVIDEND 2018-19 9324359.01 19.01.2026
2ND INTERIM DIVIDEND 2018-19 7507004.00 13.04.2026
This Committee consisted of following Directors and their attendance was as follows: INTERIM DIVIDEND 2019-2020 14598768.00 11.04.2027
IST INTERIM DIVIDEND 2020-21 9648634.00 10.12.2027
Sl. No. of Meeting
Name of the Director and Date Designation Status 2ND INTERIM DIVIDEND 2020-21 8109848.00 04.04.2028
Statutory Reports
No attended FINAL DIVIDEND 2020-21 6390839.00 14.10.2028
1. CA Denesh Singh Independent Director and Non- Chairman 1 1ST INTERIM DIVIDEND 2021-22 12067985.00 28.12.2028
Executive 2ND INTERIM DIVIDEND 2021-22 9453977.00 13.03.2029
2. Shri Vinay Ranjan Director ( P & IR) Member 1 FINAL DIVIDEND 2021-22 5855249.00 29.09.2029
3. Shri Debasish Nanda Director (Business Development)- From Member 1 1ST INTERIM DIVIDEND 2022-23 17447239.00 06.12.2029
10th Aug’22 2ND INTERIM DIVIDEND 2022-23 8470844.00 02.03.2030
4. Shri Punambhai Kalabhai Independent Director Member from 25th 1 FINAL FIVIDEND 2022-23 4815515.00 18.09.2030
Makwana Sep’23 1ST INTERIM DIVIDEND 2023-24 16430192.00 07.12.2030
5. Shri Mukesh Agrawal Director (Finance) – from 8th Feb’24 Member from 26th NA 2ND INTERIM DIVIDEND 2023-24 10525292.00 06.03.2031
Mar’24
The Unclaimed 1st Interim Dividend amount for the year 2016-17 amounting to H 1,54,02,937/- was transferred to IEPF
D) Name and designation of Compliance officer: Account on 10th April, 2024. In addition, 33,235 shares in respect of which dividend remained unclaimed for the last 7 years
Shri B.P. Dubey is the Company Secretary & Compliance Officer of CIL. Company Secretary is primarily responsible to ensure had also been transferred to IEPF Account on 14.05.24. The details are available in CIL website.
compliance with the applicable statutory requirements and act as interface between Management and regulatory authorities
Further 2nd Interim Dividend amount for the year 2016-17 amounting to H 19,00,874/- was transferred to IEPF Account on
on governance matters.
30th April, 2024. In addition, 14,065 shares in respect of which dividend remained unclaimed for the last 7 years had also
E) Redressal of Investors’ Grievances: been transferred to IEPF Account on 31.05.2024. The details are available in CIL website.
Shareholders can claim their Dividend and Shares by filing form IEPF5 with MCA.
The company addresses all complaints and grievances of the investors expeditiously and usually resolves the issue within 7
days except in case of dispute over facts or other legal constraints. The complaints were duly attended by the Company/ RTA. I) Status of complaints as on 2023-24(Quarter wise): -
F) Settlement of Grievances
Quarter Opening Received Resolved Pending
Investors may register their complaints in the manner stated below: -
1 Qtr.
st
0 14 12 2
Sl. 2nd Qtr. 2 15 16 1
Nature of Complaint Contact Officers 3rd Qtr. 1 7 7 0
No
4th Qtr. 0 6 5 1
1 Dividend from Financial Years 2016-17 to 2023-24 and M/s. Alankit Assignment Limited
shares held in physical mode 205-208 Anarkali Complex Jhandewalan Extension
For Physical Shares: Change of address, Status, Bank New Delhi – 110 055 Consumer Forum Cases
Account, ECS mandate etc. Phone No: 011-4254-1234/2354-1234
Year Opening Received Resolved Pending
Fax No: 011-4154-3474
E-mail id: [email protected] 2023-24 1 0 0 1
Toll free no-1860-121-2155
*ATR had been filed with the appropriate authority. Awaiting final order from consumer court. The case pertained to IPO issued in 2010.
Website-www.alankit.com
2 For Demat of Shares: - Concerned Depository participant (DP) where the
Change of address, Status, Bank Account, ECS mandate etc. Shareholder is maintaining his/her account
3 All complaints except Sl. No 1&2 Company Secretary, Coal India Limited, Coal Bhawan, 5A Risk Management Committee. The role of the committee shall, inter alia, include the following:
3rd floor, Core-2, Newtown Rajarhat, Kolkata-700156. (A) Brief description of terms of reference i. To formulate a detailed risk management policy which
Phone No-0332324-6526 /033-7110-4286 shall include:
Corporate Governance including Risk Assessment and
[email protected] Minimization Procedures Committee was constituted by
(a) A framework for identification of internal and
CIL Board of Directors in its 273rd meeting held on 20-09-
external risks specifically faced by the listed entity, in
G) Investor Relation Cell 2011. This committee was renamed as Risk Management
particular including financial, operational, sectoral,
Committee by CIL Board in its 307th meeting held on 29th
In line with global practices, the Company is committed to maintain the highest standards of Corporate Governance sustainability (particularly, ESG related risks),
May 2014 and is in line with Regulation 21 of SEBI (LODR)
reinforcing the relationship between the company and its Shareholders. Information frequently required by the Investors information, cyber security risks or any other risk as
Regulation, 2015. This committee was reconstituted
and Analysts are available on the Company’s corporate website www.coalindia.in under “Investor Centre”. This website may be determined by the Committee.
at 458th Board meeting held on 25th Sep’23 with 4
provides updates on investor-related events and presentations, dividend information and shareholding pattern etc. Updates
Independent Directors, 2 Functional directors and 2 (b) Measures for risk mitigation including systems and
on Financial Statement and Annual Report are available under ‘Performances/Financial’ tab. The company is committed to
senior executives (CFO & CRO). processes for internal control of identified risks.
take such other steps as may be necessary to fulfill the expectations of the stakeholders.
294 295
(c) Business continuity plan. During the year 2023-24, Four (4) meeting of the committee was held on 20.06.2023, 25.09.2023, 21.12.2023 and 12.02.2024
Corporate Overview
The Corporate Social Responsibility Committee consisted of following members and their attendance was as follows:
ii. To ensure that appropriate methodology, processes and systems are in place to monitor and evaluate risks
associated with the business of the Company; Sl. No. of Meeting
No attended
iii. To monitor and oversee implementation of the risk management policy, including evaluating the adequacy of risk
1 Shri B. Rajesh Chander Independent Director Chairman 4
management systems;
2 Smt. Nirupama Kotru Govt. Nominee Director Member 2
iv. To periodically review the risk management policy, at least once in two years, including by considering the changing 3 Shri Punambhai Kalabhai Makwana Independent Director Member 4
industry dynamics and evolving complexity; 4 Shri Vinay Ranjan Director ( P & IR) Member 3
5 Shri Ghanshyam Singh Rathore Independent Director Member (from 25.09.23 2
v. To keep the board of directors informed about the nature and content of its discussions, recommendations and
actions to be taken;
Statutory Reports
5D Empowered Sub-Committee for Evaluation, Appraisal and Approval of Projects:
vi. The appointment, removal and terms of remuneration of the Chief Risk Officer (if any) shall be subject to review by An Empowered Sub-Committee for Evaluation, Appraisal and Approval of Projects was formed by CIL Board for Evaluation,
the Risk Management Committee. Appraisal and Approval of Projects. This committee was reconstituted from time to time and the last reconstitution was
done in 455th Board Meeting held on 19th July 2023. This is not a statutory committee as per Companies Act’13 or Listing
(b) Composition, name of members and chairperson and meeting details
Regulations but constituted to assist Board to evaluate the Project Report before it is placed to Board. During the year 2023-
During the year, 2023-24, Two (2) meetings were held on 23.08.2023 and 31.01.2024 attendance of Directors was as follows: 24, Three (3) Sub-Committee Meetings were held on 07.08.2023, 07.12.2023 and 26.02.2024.
Sl. No. of Meeting

No attended 5E Separate Meeting of Independent Directors.
1. Dr. Arun Kumar Oraon Independent Director Chairman 2 As per Companies Act, 2013 and Regulation 25(3) & (4) of SEBI Listing Obligations and Disclosure Requirement 2015,
2. Shri Punambhai Kalabhai Makwana Independent Director Member 2 Independent Directors are required to hold at least one meeting in a year.
3. Shri Ghanshyam Singh Rathore Independent Director Member from 19.07.2023 2
4. Shri Denesh Singh Independent Director Member from 25.09.2023 1 In the financial year 2023-24, one Independent Director meeting was held on 11th August’2023 All the Seven Independent
5. Dr B. Veera Reddy Director (Technical) Member 2 Directors had attended the meeting.
6. Shri Vinay Ranjan Director ( P& IR) Member 1
7. Shri Anjani Kumar CRO/ GM (NI), CIL Member upto 31.02.2024 2
5F. Particulars of senior management including the changes therein since the close of the previous
8. Shri S.K. Mehta ED ( Fin), CIL Member 2
financial year.
The details are given in the Directors Report.
5B Share Transfer Committee.
A Share Transfer Committee was constituted by CIL Board of Directors in its 262nd meeting held on 22-11-2010. This committee
6. Remuneration of Directors:
was then reconstituted at 445th Board Meeting held on 10th August 2022 with 3 Functional Directors. Then, further the Share
Transfer Committee was again reconstituted at 463rd Board Meeting held on 26th March’ 2024 with 4 Functional Directors. The Remuneration of Functional Directors are decided as per the DPE guidelines issued by the Government of India.
Share Transfer Committee looks into the following- A. Details of remuneration paid to Functional Directors of the Company during the financial Year 2023-24
were as under:
a) Transmission of Shares. and (in H)
Sl.
Name of the Director Salary Benefits Total Remarks
b) Issue Duplicate Certificates and new Certificates on split /consolidation/renewal/demat to remat etc. No
1. Shri Pramod Agrawal 37,46,439.17 5,93,957.88 43,40,397.05 Ceased on
During the year 2023-24, One (1) meeting of the committee was held on 22.07.2023.
30.06.2023
The Share Transfer Committee consisted of following Directors and their attendance was as follows: 2 Shri P.M. Prasad 85,11,725.91 12,14,985.78 97,26,711.69 Appointed on
01.07.2023
Sl. No. of Meeting 3 Shri Vinay Ranjan 55,77,791.06 862,067.55 64,39,858.61
No attended 4 Dr. B. Veera Reddy 68,01,590.20 1,367,709.29 81,69,299.49
1. Shri Vinay Ranjan Director ( P & IR) Chairman 1 5 Shri Mukesh Agrawal 232,267.76 - 232,267.76 Joined on
2. Dr B. Veera Reddy Director (Technical) Member 0 08.02.2024
3. Shri Debasish Nanda Director (Business Development) Member 1 6 Shri Debasish Nanda 51,68,786.50 10,99,126.11 62,67,912.61
4. Shri Mukesh Agrawal Director ( Finance) Member from 26.03.24 NA 7 Shri Mukesh Choudhary 39,43,965.89 6,78,874.34 46,22,840.23
5C Corporate Social Responsibility Committee. Further Benefit includes performance linked incentives, other allowances and perquisites. However, Company does not
Sustainable Development Committee including CSR was constituted by CIL Board of Directors in its 282 meeting held
nd provide any Stock Options to Director.
on 16-04-2012. This Committee was renamed as CSR Committee in pursuant to Section 135 of the Companies Act, 2013
(B) Criteria of making payments to non-executive directors (Independent Directors)
and the Companies (Corporate Social Responsibility) Rules, 2014.This committee was reconstituted on 12th November 2021
comprising of 2 Independent Directors, 1 Govt. Nominee Director and 1 Functional Director. Thereafter it was reconstituted Govt. Nominee Directors are not paid any fees/Salary for attending the meeting. Sitting fees payable to Independent
on 25th Sept’2023 with 3 Independent Directors, 1 Govt. Nominee Director and 1 Functional Director. Directors is fixed by the Board of Directors of CIL in pursuance of DPE guidelines and Companies Act 2013. Accordingly,
the Board had decided payment of sitting fees for each meeting of the Board and Committee of the Board @ H 40,000/-
and H 30,000/- respectively to each Independent Director in its 327th meeting held on 28th May’2016.
296 297
The Independent Directors do not have any material pecuniary relationship or transactions with the Company. Details
Corporate Overview
of sitting fees paid to Independent Directors during the year 2023-24 were given below: Quarter English Newspaper Vernacular Newspaper
Sitting Fees for Sitting Fees for June’ 23 Financial Express Anandabazar Patrika
Name of the Independent Director Total (in J) September’ 23 Business Standard Aajkal
Board Meeting Committee Meetings
December’ 23 Mint Bartaman
Prof. G. Nageswara Rao 5,60,000 4,20,000 9,80,000 March’ 24 The Hindu Business line Ei Samay
Dr Arun Kumar Oraon 5,60,000 2,40,000 8,00,000
CA Kamesh Kant Acharya 5,60,000 4,20,000 9,80,000
CA Denesh Singh 5,60,000 3,30,000 8,90,000 b) Official Releases and Presentations:
Shri Punambhai Kalabhai Makwana 5,60,000 2,40,000 8,00,000
In order to make general public aware about the achievements of the company, highlights of the performance of the
Shri B. Rajesh Chander 5,60,000 4,50,000 10,10,000
company are briefed to the Press for information of the stakeholders after it is intimated to Stock Exchanges.
Shri Ghanshyam Singh Rathore 5,20,000 2,10,000 7,30,000
Statutory Reports
c) Presentation made to the Institutional Investors and Analysts: -
7. General Body Meetings The salient features of financial results are on company website for the information of Institutional Investors, Analysts
A. Location and time, where last three annual general meetings held and general public after it is intimated to Stock Exchanges.
Financial Year Date Time Location.

9. General Shareholders’ Information:
2022-23 23.08.2023 11:00 AM Coal India Limited
a) Annual General Meeting.
Board Room, 5th Floor, Coal Bhawan, Kolkata-700156 via
Date: 21st August’24
[Video Conferencing/ OVAM]
2021-22 30.08.2022 11.00 AM Coal India Limited
Day: Wednesday
[Video Conferencing/ OVAM] Time: 11:00 A.M.
2020-21 15.09.2021 10.30 AM Coal India Limited
Venue: Coal Bhawan, Premises 04-MAR, Action Area 1A, Newtown Rajarhat Kolkata-700156 through Video conferencing
(VC)/Other Audio Visual Means (OAVM)
[Video Conferencing/ OVAM]
b) Financial Calendar for FY 2024-25:
B. Particulars of Special Resolutions passed at the last three AGM: Particulars Date
AGM Year Time Particulars of Special Resolution Accounting period April 1, 2024 to March 31, 2025
Unaudited Financial Results for the first three quarters Within 45 days from the end of quarter.
49th 23.08.2023 11:00 AM Appointment of Shri Ghanshyam Singh Rathore as
Fourth Quarter Results Announcement of Audited Accounts on or before
Independent Director
May, 30, 2025.
48th 30.08.2022 11:00 AM Alteration of Memorandum and Articles of Association
AGM (Next Year) August’2025
47th 15.09.2021 11.00 AM NIL
c) Record Date.
C. Particulars of Special Resolution passed through Postal Ballot and details of voting pattern in 2023-24:
The Company has fixed the Friday the 16th August’24 as the Record date to determine the Shareholders who are
NA
eligible to receive Final Dividend.
D. Person who conducted Postal Ballot Exercise in 2023-24: - NA
d) Payment of Dividend.
E. Whether any special resolution is proposed to be conducted through e-voting- No.
CIL Board in its meeting held on 10th November’23 had approved payment of 1st Interim Dividend @ H 15.25 per share
F. Detailed Procedure for Postal Ballot- E-voting activity is available under tab ‘Investor Centre, Events and (152.50% on the paid-up share capital) to shareholders and the same was paid by 7th December’2023.CIL Board in its
Announcement” of Coal India website. meeting held on 12th February’ 24 had approved payment of 2nd Interim Dividend @ H 5.25 per share (52.5% on the
paid-up share capital) to shareholders and the same was paid by 6th March’24. In the 464th Board Meeting held on 2nd
8. Means of Communication: May’24, Board had recommended payment of final dividend @ 5.00 per share for 2023-24 and the same would be paid
a) Quarterly Results and Newspaper publication: if approved by shareholders in the ensuing AGM.
The Company communicates with its shareholders through its Annual Report, General Meetings and disclosures e) Dividend History.
through website. The Company also communicates with its institutional shareholders through a combination of Analysts
briefing, Audio/Video Conference Call, Individual discussions and also participation at Investor Conferences from time Total Paid up Total amount of
Rate of
to time. Quarterly Financial Results were also disclosed to the Stock Exchanges and were published in the newspapers Year Share Capital (J dividend paid (J Date of AGM
Dividend. (in %)
as per the details given below. Information and latest updates and announcement regarding the company can be in crore) in crore)
accessed at company’s website under tab “Investor Centre, Event & Announcements” 2010-11 6316.36 2463.38 20-09-2011 39
2011-12 6316.36 6316.36 18-09-2012 100
2012-13 6316.36 8842.91 18-09-2013 140
2013-14 6316.36 18317.46 10-09-2014 290
2014-15 6316.36 13074.88 23-09-2015 207
2015-16 6316.36 17306.84 21-09-2016 274
298 299
h) Market Price Data- NSE:
Total Paid up Total amount of
Corporate Overview
Rate of
Year Share Capital (J dividend paid (J Date of AGM
Dividend. (in %) Month High (in J) Low (in J) Closing (in J)
in crore) in crore)
Apr-23 234.75 213.80 233.10
2016-17 6207.40 12352.76 14-09-2017 199
May-23 247.90 230.00 241.25
2017-18 6207.40 10242.23 12-09-2018 165
Jun-23 233.40 223.25 231.00
2018-19 6162.73 8105.58 21-08-2019 131
Jul-23 237.30 226.85 229.25
2019-20 6162.73 7395.27 23-09-2020 120
Aug-23 243.15 227.00 230.05
2020-21 6162.73 9860.40 15-09-2021 160
Sep-23 297.50 230.55 295.20
2021-22 6162.73 10476.64 30-08-2022 170
Oct-23 319.75 283.05 314.25
2022-23 6162.73 14944.66 23-08-2023 242.5
Nov-23 359.00 305.85 342.15
2023-24 6162.73 15714.99* Two Interim Dividends and final 255*
Dec-23 382.50 342.30 376.00
Statutory Reports
Dividend proposed for 2023-24 Jan-24 415.80 368.00 406.15
*Includes Final Dividend of H 5.00 per share for FY 23-24. Feb-24 487.60 402.50 436.70
Mar-24 465.40 401.20 434.10
f) Listing on Stock Exchanges.
Stock performance of Coal India vis a vis NIFTY (based on closing price)
CIL equity shares are listed in the following Stock Exchanges:
CIL & NSE

National Stock Exchange of India Limited. Bombay Stock Exchange Limited.
Scrip Code: COAL INDIA Scrip Code: 533278. 500.00 23500
Stock Code: ISIN: INE522F01014.
450.00
22500
i) Annual Listing fees for the year 2023-24 has already been paid to both the Stock Exchanges. 400.00
350.00 21500
ii) No securities of CIL were suspended from trading in BSE and NSE 300.00
20500
g) Market Price Data- BSE: 250.00
200.00 19500
Month High (in J) Low (in J) Closing (in J) 150.00
18500
Apr-23 234.65 213.70 233.10 100.00
May-23 247.85 230.00 241.20 50.00 17500
Jun-23 233.40 223.30 230.85
23
23
23
4
Jul-23 237.20 226.85 229.20
r-2
-2
l-2
-2
-2
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Aug-23 258.40 226.10 230.10
D
N
Sep-23 297.45 230.15 295.15
Oct-23 319.55 283.15 314.40 Closing Price NSE Nifty
Nov-23 359.80 306.00 342.25
Dec-23 382.85 342.00 375.95
Jan-24 416.25 368.00 406.10
i) Registrar to Issue and Share Transfer Agent
Feb-24 487.75 402.50 437.70
Mar-24 465.25 401.30 433.75 Registered Address: Local Address:
M/s. Alankit Assignment Limited Alankit Assignments Limited
Stock Performance of Coal India vis –a –vis Sensex (Based on closing Price)
Alankit House- 4E/2 Jhandewalan Extension, New Delhi – 110 055 3B, Ground Floor Lal Bazar Street,
CIL & BSE Phone No: 011-4254-1234/4254-1934 Kolkata-700001, INDIA.
E-mail id: [email protected], [email protected]
500.00 80000 [email protected] Phone no-033-4401-4100/4200
450.00 75000 Toll free no-1860-121-2155 Toll Free No: 1860-121-2155
400.00 Website-www.alankit.com Website-www.alankit.com
70000
350.00
300.00 65000
j) Share Transfer System
250.00 60000
(in H)
200.00 Pursuant to Regulation 40(1) of SEBI Listing Regulations, as amended, securities can be transferred only in dematerialized
55000
150.00 form w.e.f 1st April’ 2019. Shareholders holding equity shares in physical form are requested to consider converting
50000 their holding to dematerialized form. Transfers of equity shares in electronic form are effected through the depositories
100.00
50.00 45000 without any involvement of the Company.
0.00 40000
k) Distribution of Shareholding
3
23
23
23
Shares held by different categories of shareholders and size of holdings as on 29th March, 2024 is given below:
r-2
-2
l-2
-2
-2
-2
-2
-2
-2
n-
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Se
Fe
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M
D
N
CLOSING PRICE OF CIL BSE SENSEX
300 301
i) Shareholding pattern as on 29th March, 2024 iii) Distribution of shareholding according to size, % of holding as on 29th March, 2024:
Corporate Overview
Consolidated Share Holding Pattern as on 29/03/2024 Distribution Schedule - Consolidated as on 29/03/2024
Category No of Holders Total Shares % of Equity Category (Shares) No of Cases % of Cases Total Shares Amount % of Amount
PROMOTERS 1 3890735938 63.1333 1-5000 1610501 99.6650 198405022.00 1984050220.00 3.2194
INSURANCE COMPANIES 118 722848518 11.7293 5001-10000 2699 0.1670 19547806.00 195478060.00 0.3171
MUTUAL FUND 285 665221974 10.7942 10001-20000 1082 0.0670 15238535.00 152385350.00 0.2472
FOREIGN PORTFOLIO - CORP. 629 518581858 8.4148 20001-30000 334 0.0207 8304894.00 83048940.00 0.1347
INDIVIDUALS 1572764 248241813 4.0281 30001-40000 173 0.0107 6052607.00 60526070.00 0.0982
DOMESTIC COMPANIES 3064 47615353 0.7726 40001-50000 125 0.0077 5732721.00 57327210.00 0.0930
FINANCIAL INSTITUTIONS 29 18845778 0.3058 50001-100000 263 0.0163 19246461.00 192464610.00 0.3123
ALTERNATIVE INVESTMENT FUND 35 17949726 0.2912 100001-999999999999 738 0.0457 5890200281.00 58902002810.00 95.5778
Statutory Reports
HUF 18873 9679906 0.1570 Total 1615915 100.0001 6162728327 61627283270 99.9997
CENTRAL GOVERNMENT 3 6693484 0.1086
NRI REP 10811 6023376 0.0977
NRI NON-REP 9125 5300802 0.0860 iv) Major Shareholders: -
NATIONALISED BANKS 5 3242831 0.0526 Details of shareholders holding more than 10% of paid up capital of the Company as on 29th March, 2024
CLEARING MEMBERS 77 724757 0.0117 are given below:
TRUSTS 84 526827 0.0085
BANK 5 315769 0.0051 % to Paid – up
Name of Shareholder No of Shares Category
INVESTOR EDUCATION AND PROTECTION FUND 1 149384 0.0024 Capital
FOREIGN INSTITUTIONAL INVESTORS 1 21000 0.0003 President of India 3890735938 63.13 POI
FOREIGN PORTFOLIO - IND. 3 8220 0.0001
FOREIGN NATIONAL /ENTITY 2 1013 0.0000
Total 1615915 6162728327 100 L) Dematerialization of Shares and Liquidity
Shares of the Company issued to the Public are in dematerialized segment and are available for trading at National
ii) Top Ten shareholders as on 29 March’ 2024:
th Securities Depository Ltd. (NSDL) and Central Depository Services (India) Ltd (CDSL). This includes CPSE ETF and Bharat
22 ETF which can be traded in Stock Exchanges. Shares held by GOI are also in demat form.
Top 10 Share Holders as on 29/03/2024
DPID Client ID Name Total Shares % of Equity Category No of shares held in dematerialized and physical mode as on 29th March’ 24:
IN301330 20882475 PRESIDENT OF INDIA 3890735938.00 63.1333 PROMOTERS Mode of holding Shares % Equity
IN301348 20176093 LIFE INSURANCE CORPORATION 558123129.00 9.0564 INSURANCE
Held in dematerialized form in CDSL 285826078 4.6380
OF INDIA COMPANIES
Held in dematerialized form in NSDL 5876899409 95.3620
16013900 00016051 CPSE EXCHANGE TRADED 139114624.00 2.2574 OTHER MUTUAL
Physical 2840 0.0000
SCHEME (CPSE ETF) FUND
Total 6162728327 100
IN300054 10009134 HDFC TRUSTEE COMPANY 72171400.00 1.1711 OTHER MUTUAL
LTD. A/C HDFC BALANCED FUND
ADVANTAGE FUND M) Reconciliation of Share Capital Audit O) Disclosure of Commodity price risk or foreign
IN300167 10169362 PARAG PARIKH FLEXI CAP FUND 69326793.00 1.1249 OTHER MUTUAL
As required by Securities & Exchange Board of
exchange risk and hedging activities
FUND
India (SEBI), quarterly audit of Reconciliation Company is currently insulated from Foreign
IN301348 20176108 LIFE INSURANCE CORPORATION 69248723.00 1.1237 INSURANCE
of share capital is being carried out by a peer Exchange Risk and Commodity Price Risk. CIL
OF INDIA - P & GS Fund COMPANIES
reviewed practicing Company Secretary with a view majorly produces and sale coal within India only. In
IN303786 10002962 SBI NIFTY 50 ETF 41015766.00 0.6655 OTHER MUTUAL
to reconcile the total share capital with National case of domestic operations, it is observed that CIL
FUND
Securities Depository Limited (NSDL) and Central earns better e-auction premium when landed cost
IN303438 10003257 VANGUARD TOTAL 31137565.00 0.5053 FOREIGN
Depository Services (India) Limited (CDSL) and in of international coal in India are high.
INTERNATIONAL STOCK INDEX PORTFOLIO -
physical form, with the issued and listed capital.
FUND CORP.
The Secretarial Audit Report for reconciliation
IN303438 10016654 VANGUARD EMERGING 30363274.00 0.4927 FOREIGN
of share capital is submitted to BSE Limited and
MARKETS STOCK INDEX FUND, PORTFOLIO -
National Stock Exchange of India Limited within the
A SERIES OF VANGUARD CORP.
stipulated time for each quarter.
INTERNATIONAL EQUITY INDEX
FUNDS N) Outstanding global depository receipts or
IN300054 10009118 HDFC TRUSTEE COMPANY LTD. 27557721.00 0.4472 OTHER MUTUAL American depository receipts or warrants or
A/C HDFC TOP 100 FUND FUND any convertible instruments, conversion date
Total 4928794933 79.9775
and likely impact on equity
Company has not issued any ADR or GDR or warrant
or any convertible instruments,
302 303
P) The names and address of the Depositories are as under: 10. Other Disclosures confidentially want to bring the unethical practices, actual
Corporate Overview
or suspected fraudulent transactions in the organization
1. National Securities Depository Ltd. A) Disclosures on materially significant related party
to the notice of competent authority for the greater
Trade World, 4th Floor, transactions that may have potential conflict with
interest of the organization and the nation). It has also
Kamala Mills Compound, the interests of listed entity at large
ensured a very robust mechanism within the framework
Senapati Bapat Marg,
During the year, there was no transaction of material to protect those (whistle blowers) from any kind of harm.
Lower Parel, Mumbai-400 013.
nature with Related Parties that had potential conflict It is hereby affirmed that no personnel have been denied
2. Central Depository Services (India) Limited. with the interests of the Company. As required under access to the Audit committee.
Phiroze Jeejeebhoy Towers, Regulation 23(1) of SEBI (LODR) Regulations, 2015,
the Company has formulated a policy on dealing with D) Details of compliance with mandatory
17th Floor, Dalal Street Fort, Mumbai – 400 001.
Related Party. requirements and adoption of the non-mandatory
Q) Details of Subsidiaries of Coal India Ltd and its Plant Location (Till 31.03.24): - requirements
Statutory Reports
B) Details of Non- Compliances and Fines levied By
At present, Coal India Ltd. has eleven wholly owned Subsidiaries. The details are as under: - Company has complied with all the mandatory
BSE & NSE in last 3 years
requirements of Corporate Governance. The details of
Name of the Subsidiary Company Location The Company had complied with requirements of Non-Mandatory requirements is mentioned in Annexure-I
(A) Coal Producing Companies: Regulatory Authorities on capital markets and no
(i) Eastern Coalfields Ltd.(ECL) Sanctoria, Dishergarh, West Bengal penalties/strictures were imposed against it by Stock E) Web link where policy for determining ‘material’
(ii) Bharat Coking Coal Ltd (BCCL) Dhanbad, Jharkhand. Exchange or SEBI or any other Statutory Authority. subsidiaries is disclosed
(iii) Central Coalfields Ltd (CCL) Ranchi, Jharkhand. However, fine has been levied by BSE & NSE for the years Mahanadi Coalfields Limited (MCL) was the material
(iv) Western Coalfields Ltd (WCL) Nagpur, Maharashtra. 2021, 2022 & 2023 for all four quarters. This fine had been subsidiary in 2023-24 as its income or net worth
(v) South Eastern Coalfields Ltd (SECL) Bilaspur, Chhattisgarh. levied for non-compliance of some of the provisions of exceeded 20% of CIL (consolidated) income or net
(vi) Northern Coalfields Ltd (NCL) Singrauli, Madhya Pradesh. LODR with regards to appointment of required number of worth as on 31st March 2023. The Consolidated Financial
(vii) Mahanadi Coalfields Ltd(MCL) Sambalpur, Odisha Independent Directors including a woman Independent Statements of Coal India limited and its Subsidiary
(B) Service Oriented Company: Director, absence of quorum in the Board Meetings and Companies are placed at the Audit Committee and Board
(viii) C.M.P.D.I. L. Ranchi, Jharkhand. non-re-constitution of Audit committee, Nomination Meetings on quarterly basis. Copies of the Minutes of
(C) Foreign Subsidiary Company: and Remuneration Committee, Corporate Social Board Meetings of Subsidiary Companies along with a
(ix) Coal India Africana Limitada (CIAL) Tete, Mozambique Responsibility Committee & Stakeholder Relationship Statement of Significant Transactions and Arrangements
(D) Renewal Energy Companies: Committee from 6th Sept’ 2020 to 31st October’ 2021. entered into by the unlisted subsidiary company are also
(x) CIL Navikarniya Urja Limited Kolkata, West Bengal
From 1st November’21 to 5th November’21, 6 Independent placed to CIL Board. Details of Policy were disclosed in
(xi) CIL Solar PV Limited Kolkata, West Bengal
Directors were appointed in CIL Board and one more company website under tab “Investor Centre, Event &
Independent Director was appointed in CIL Board w.e.f. Announcements”.
(E) Joint Venture Companies of CIL: 1st March’2023. Therefore, on 12th November’2021, all
the statutory committees to the Board were reconstituted https://d3u7ubx0okog7j.cloudfront.net/documents/
(i) Hindustan Urvarak & Rasayan Ltd. (HURL) in accordance with LODR 2015 and Companies Act P O L I C Y _ F O R _ D E T E R M I N I N G _ M AT E R I A L _
(ii) Talcher Fertilizers Limited (TFL) 2013. Company has also informed both exchanges SUBSIDIARIES_21032015.pdf
that being a Public Sector company, appointment of
(iii) Coal Lignite Urja Vikas Private Limited Director vests with the President of India and company F) Web link where policy on dealing with related
took up the matter with Ministry of Coal, its administrative party transactions
(iv) CIL NTPC Urja Pvt Limited
Ministry even before the vacancy arose as well as Details of Policy on dealing with Related Party Transactions
(v) International Coal Ventures Pvt. Limited (ICVL)
subsequent to the vacancies with a request to appoint a were disclosed in company website under tab “Investor
R) Address for Correspondence. woman Independent Director and requested the Stock Centre, Event & Announcements”.
Exchanges to waive the fine levied on the company. BSE
Coal Bhawan Limited vide email dated 19th April’2021, waived the fine https://d3u7ubx0okog7j.cloudfront.net/documents/
Premises No-04-MAR.Plot No-AF-III levied for the quarters September 2020 and December Related_Party_cOumNP8.pdf
Action Area-1A, Newtown, Rajarhat 2020. NSE vide its email dated 10th November.’2022 had
Kolkata- 700156. G) Details of utilization of funds raised through
waived the various penalties. Company has taken up the
Phone- 033-23246526. preferential allotment or qualified institutions
matter with BSE & NSE to waive the fine levied for the
E –mail: [email protected]. placement as specified under Regulation 32 (7A).
remaining quarters for the years 2021, 2022 & 2023.
Company has not raised any fund through preferential
S) Credit Ratings C) Details of establishment of vigil mechanism allotment or qualified institutions
Coal India Limited has obtained following Credit rating from CARE for the financial year 2023-24: Pursuant to Section 177(9) & (10) of Companies Act,
H) A certificate from a company secretary in practice
2013 and Regulation 22 of SEBI LODR Regulations 2015,
Total Bank Loan Facilities Rated H 9914.30 crores that none of the directors on the board of the
the company had formulated Whistle Blower Policy to
Long Term Rating AAA/Stable (Reaffirmed) company have been debarred or disqualified
enable the individual employees to freely communicate
Short Term Rating A1+ (Reaffirmed) from being appointed or continuing as directors
the concerns about illegal and unethical practices
Corporate Credit Rating AAA/Stable(Reaffirmed) of companies by the Board/Ministry of Corporate
in the company.
Affairs or any such statutory authority
CIL had provided ample opportunities to encourage Company has obtained a certificate from M/s. S. Basu &
directors and employees to become whistle blowers Associates and same is enclosed as Annexure IV.
(Directors and employees who voluntarily and
304 305
I) where the board had not accepted any recommendation of any committee of the board which is mandatorily N) CEO/CFO Certification: As required under SEBI(LODR)Regulations,2015, Certificate signed by Shri P.M. Prasad Chairman/
Corporate Overview
required, in the relevant financial year, the same to be disclosed along with reasons thereof CEO and Shri Mukesh Agrawal, Director (Finance)/CFO was placed before the Board of Directors in its 464th Board Meeting
held on 2nd May’24 and is annexed to Corporate Governance Report as Annexure II
CIL Board has accepted all the recommendation of all the Sub-Committees of the Board for the financial year 2023-24.
O) Code of Business Conduct.
J) Total fees for all services paid by the listed entity and its subsidiaries, on a consolidated basis, to the statutory
auditor and all entities in the network firm/network entity of which the statutory auditor is a part The Company has in place a Code of Business Conduct applicable to Board Members as well as to Senior Management
which was revised in its 311th Board Meeting held on 29-03-2015 in line with Companies Act' 2013, Listing Regulations
Details of total fees paid to Statutory Auditors are given in the Consolidated Accounts of the Company and are also as under:-
2015 and the same has been uploaded in Company’s website. Further, all Board Members of Coal India Limited and Senior
(H lakhs) Management Personnel have affirmed compliance to the code of conduct as on 31st March, 2024.
Type of service FY 2023-24 FY 2022-23
P) Declaration required under Regulation 26 (3) of SEBI (Listing Obligations and Disclosure Requirements)
Audit fees 229 266
Regulations, 2015
Statutory Reports
Tax fees 26 29
Others 136 131 All the members of the Board and Senior Management Personnel have affirmed compliance to the Code of Conduct for the
Total 391 426 financial year ended on 31st March, 2024.
K) Disclosures in relation to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Sd/
Act, 2013 (P.M.Prasad)
Kolkata Chairman &Managing Director
No. of Complaint No of Complaint Dated : 25.04.2024 DIN-08073913
No of Complaint filed
disposed Pending
NIL NIL NIL
Q) Code of Internal procedures and conduct for Prevention of Insider Trading.
L) Disclosure by listed entity and its subsidiaries of ‘Loans and advances in the nature of loans to firms/companies
in which directors are interested by name and amount In pursuance to Regulation 9(1) of SEBI (Prohibition of Insider Trading) Regulations 2015, CIL had adopted Code of Internal
Procedures and Conduct for Prevention of Insider Trading in Securities of Coal India Limited with the objective of preventing
Company has not provided any loans and advances to any firms/companies in which directors are interested.
purchase and/or sale of shares of Company by an insider on the basis of unpublished price sensitive information. As required
M) Details of material subsidiaries of the listed entity; including the date and place of incorporation and the name under the regulations, Company is maintaining a structured Digital database [SDD] internally of Designated persons and
and date of appointment of the statutory auditors of such subsidiaries. their relatives. As per SEBI (Prohibition of Insider Trading) (Amendment) Regulation 2018 and 2019 Company had amended
the Prohibition of Insider Trading Code with the approval of Board in its 390th meeting held on 13th August, 2019.
a) Material subsidiary as its income or net worth exceeded 20% of CIL (consolidated) income or net worth as on
31st March 2023. R) Formal letter of appointment to Independent Directors: CIL Board in its 308th meeting had approved letter of
appointment to be issued to Independent Directors on their appointment and it is also uploaded in company’s website. This
Name of Material Date of Place of Name of Principal Date of Appointment Fees paid
is as per the Schedule IV of Companies Act 2013 and Regulation 46(2) of Listing Regulations 2015. Accordingly, letter of
Subsidiaries Incorporation Incorporation Statutory Auditor of Statutory Auditor (in Lakhs)
appointment has been issued to all Independent Directors as and when they are appointed.
Mahanadi Coalfields Ltd 03.04.1992 Sambalpur, M/s. Shiv & 30.08.2023 12.03
S) Familiarization programme for Independent Directors: Board of Directors including Independent Directors are fully
Odisha Associates
briefed on all business-related matters, associated risk, new initiatives etc of the company. The Board of directors were also
briefed about the provisions of Companies Act 2013, SEBI (LODR) Regulations, 2015, and Prevention of Insider Trading Code
b) Material subsidiary as its income or net worth exceeded 10% of CIL (consolidated) income or net worth as on of CIL etc. As and when the training programmes are conducted by the recognized Institutes on Corporate Governance,
31st March 2023. company sponsors them to attend training programme and make them familiar with the recent developments. Details of
training programme attended by Independent Directors for FY 2023-24 were disclosed in company website under tab
Name of Material Date of Place of Name of Principal Date of Appointment Fees paid “Investor Centre, Event & Announcements”.
Subsidiaries Incorporation Incorporation Statutory Auditor of Statutory Auditor (in Lakhs)
https://d3u7ubx0okog7j.cloudfront.net/documents/Familiarization__Training_Programmes_imparted_to_Independent_
Eastern Coalfields 01.11.1975 Sanctoria, West M/s. Roy Ghosh & 27.09.2023 8.03 Directors_For_the_TaWcM39.pdf
Ltd Bengal Associates
Central Coalfields 05.09.1956 Ranchi M/S SPAN & Associates 18.09.2023 12.35 11. Non-compliance of any requirement of corporate governance report
Ltd (Jharkhand) All the applicable requirements of Corporate Governances has been duly complied with.
Northern Coalfields 28.11.1985 Singrauli, M/s. R SHAH & Co., 20.09.2023 10.33
Ltd Madhya Chartered Accountants 12. Corporate Governance Certificate regard to compliance of conditions of corporate governance
Pradesh
As stipulated in the Guidelines on Corporate Governance for CPSE issued by Department of Public Enterprises vide OM
Western Coalfields 29.10.1985 Nagpur, BAGARIA & CO LLP, 18.09.2023 27.44
18(8)/2005-GM dated 14.05.2010 and relevant SEBI (LODR) Regulations 2015, a certificate on Compliance of Corporate
Ltd Maharashtra Nagpur
Governance Guidelines has been obtained from a peer reviewed practising Company Secretary for the financial year 2023-
South Eastern 28.11.1985 Bilaspur, V. K. Ladha & associates, 21.09.2023 11.19
24 and the same is enclosed in this report as Annexure III.
Coalfields Ltd Chhattisgarh chartered accountants,
13. Disclosures with respect to Demat suspense account/ unclaimed suspense account
No Shares are lying in the Demat suspense account/ unclaimed suspense account of CIL
14. Disclosure of certain types of agreements binding listed entities

NIL
306 307
Annexure- I Annexure- II
Corporate Overview
Non- Mandatory Requirements CEO AND CFO CERTIFICATION
(extent to which the discretionary requirements have been adopted).
To
Besides the mandatory requirements as mentioned in preceding pages, the status of compliance with non-mandatory requirements The Board of Directors
of Reg. 27(1) of SEBI (LODR) Regulations, 2015 read with Part E of Schedule-II are produced below: Coal India Limited
1. The Board: The Company is headed by an Executive Chairman. The Financial Statements of CIL (Standalone) for the Financial Year ended 31st March, 2024 are placed herewith before the Board
of Directors for their consideration and approval.
2. Shareholder Rights: The quarterly Financial Results of the Company are published in leading newspapers and also posted
Statutory Reports
on company's website (www.coalindia.in). These results are not separately circulated to the shareholders. In the light of above, We, P. M. Prasad, Chairman-cum-Managing Director & CEO and Mukesh Agrawal, Director (Finance) & CFO
of Coal India Ltd. responsible for the finance function certify that:
3. Audit Qualification / Modified Opinions in audit report: It is always Company’s endeavor to present an unqualified financial
statement. For the year, company has received unqualified Report from Statutory Auditor but it contained emphasis of matter. a. We have reviewed the Financial Statements for the Financial Year ended 31st March, 2024 and that to the best of our
knowledge and belief:
4. Split of Role of Chairman and MD: - SEBI has made same voluntary for companies to split the roles of Chairman and
Managing Director. i. These statements do not contain any materially untrue statement or omit any material fact or contain statements that
might be misleading;
5. Reporting of Internal Auditor: General Manager Internal Audit reports directly to Chief Executive Officer of the company.
The external/internal auditor appointed by the company submit their report to concerned GM at places where they are ii. These statements together present a true and fair view of the company’s affairs and are in compliance with existing
conducting audit. These reports are reviewed by the Audit Committee. accounting standards, applicable laws and regulations.
b. To the best of our knowledge and belief, no transactions entered into by the company during the Financial Year ended 31st
March, 2024 are fraudulent, illegal or violative of the company’s code of conduct.
c. We accept responsibility for establishing and maintaining internal controls for financial reporting and we have evaluated
the effectiveness of internal control systems of the company pertaining to financial reporting and we have disclosed to the
Auditors and the audit committee, deficiencies in the design or operation of such internal controls, if any, of which we are
aware and the steps we have taken or propose to take to rectify these deficiencies.
d. We have indicated to the Auditors and the Audit Committee that:
i. There has not been any significant change in internal control over financial reporting during the period under reference;
ii. Based on clarifications from the Accounting Standard Board of the Institute of Chartered Accountants of India (ICAI),
the Board of Directors has approved the change in material accounting policy on stripping activity which the group
was consistently following in the case of open-cast mining with a rated capacity of one million tonne or more annually.
However, there is no financial impact of the same in the Standalone Financial Statements, the same have been disclosed
in the notes to the financial statements.
iii. We have not become aware of any instance of significant fraud with involvement therein of the management or an
employee having a significant role in the company’s internal control system over financial reporting.
SD/- SD/-
Director (Finance) & CFO Chairman-cum-Managing Director & CEO
DIN- 10199741 DIN-08073913
Date: 2nd May 2024

Place: Kolkata
308 309
CEO AND CFO CERTIFICATION (CONSOLIDATED) Annexure- III
Corporate Overview
To CERTIFICATE OF CORPORATE GOVERNANCE
The Board of Directors
[Pursuant to Clause E of SCHEDULE V of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Coal India Limited
Regulations, 2015]
The Financial Statements of CIL (Consolidated) for the Financial ii. Based on clarifications from the Accounting
Year ended 31st March, 2024 are placed herewith before the Standard Board of the Institute of Chartered
Board of Directors for their consideration and approval. Accountants of India (ICAI), the Board of Directors
TO THE MEMBERS OF
The Financial Statements for the above-mentioned period for has approved the change in material accounting
policy on stripping activity which the group was COAL INDIA LIMITED,
the subsidiaries of Coal India Limited have been prepared by Coal Bhawan, Premises No.04-MAR,
consistently following in the case of open-cast
Statutory Reports
the respective subsidiaries and have been approved by their
mining with a rated capacity of one million tonne or Plot-AF-III, Action Area-1A,
respective Boards. Management certified unaudited financial
statements of Coal India Africana Limitada for the period more annually and the same has been disclosed in New Town Rajarhat,
ended 31.03.2024 has been considered. The transactions in the notes to the Financial Statements. Kolkata-700156.
Coal India Africana Limitada, a wholly owned foreign subsidiary iii. We have not become aware of any instance of
is insignificant. The respective CEO/CFO certification on the significant fraud with involvement therein of the 1. We have examined the compliance of conditions of 7. The procedures also include examining evidence
Financial Statements of other subsidiaries for the said period management or an employee having a significant Corporate Governance by Coal India Limited (“the supporting the particulars in the Corporate Governance
as submitted to the respective Board are also placed for kind role in the company’s internal control system over Company”) for the year ended March 31, 2024 as Report on a test basis.
perusal (except, the Coal India Africana Limitada). This CEO/ financial reporting except in case of BCCL & CMPDIL stipulated in Regulation 17 to 27 and clauses (b) to (i)
CFO (Consolidated) certification is based on these individual which is given as under: - of Regulation 46(2) and para C, D, and E of schedule
subsidiary wise CEO/CFO Certification. Opinion
In the case of BCCL:- V of the Securities and Exchange Board of India
The Standalone Financial Statements for the above period also (Listing Obligation and Disclosure Requirements) 8. In our opinion and to the best of our information and
a. Alleged irregularities in the remittance of PF and
form a part of the above Consolidated Financial Statements. Regulation,2015 as amended from time to time (“SEBI according to the explanations given to us, we certify that
Pension contribution at Central Hospital Dhanbad.
In view of the above, we, P. M. Prasad, Chairman-cum- LODR“) and other applicable regulations of it and the the Company has, in all material respects, complied with
b. Irregular deployment of Sunday/holiday to the
Managing Director and CEO and Mukesh Agrawal, Director guidelines on Corporate Governance for Central Public the conditions of Corporate Governance as stipulated in
drivers of water tankers and persons of auto
(Finance) and CFO of Coal India Ltd. responsible for the Sector Enterprises(CPSE) issued by the Department of Regulations 17 to 27, clauses (b) to (i) of Regulation 46 (2)
department at Kustore Colliery in PB area even if
finance function certify that: and part C and D of Schedule V to the SEBI LODR for the
water tanker remains break down. Public Enterprises, Govt of India vide OM No18(8)/2005-
1. We have reviewed the Financial Statements for the GM dated 14th May,2010. year ended March 31, 2024 as well as guidelines issued
c. Alleged acquisition of assets disproportionate to his
Financial Year ended 31st March, 2024 and that to the by the DPE except for the following:
known sources of income by Shri Ratnakar Mallik,
best of our knowledge and belief:
Area Personnel Manager, Block-II Area, BCCL.
i. These statements do not contain any materially Management’s Responsibility I. Regulation 17(1)(a) of SEBI LODR the Board did not
d. Alleged corrupt practices by the officials comprise of an Independent Woman Director for
untrue statement or omit any material fact or contain 2. The preparation of the Corporate Governance Report is
of Katras Area.
statements that might be misleading; the responsibility of the Management of the Company the period 01.04.2023 to 31.03.2024.
e. Alleged irregularities in issuance of NOC to retired
ii. These statements together present a true and fair including the preparation and maintenance of all relevant
employee without handing over his allotted II. As per Regulation 17(1)(b) of SEBI
view of the company’s affairs and are in compliance supporting records and documents. This responsibility
company’s quarter. (Listing Obligation and Disclosure
with existing accounting standards, applicable laws also includes the design, implementation and
and regulations. f. Alleged irregularities committed by Dr. S. S. Requirements),Regulation,2015,where the Listed
Kumar while posted as Area Medical Officer, maintenance of internal control relevant to the preparation
Entity does not have a regular Non Executive
2. To the best of our knowledge and belief, no transactions and presentation of the Corporate Governance Report.
Govindpur Area. Chairperson at least half of the Board of Directors
entered into by the company during the Financial Year
ended 31st March, 2024 are fraudulent, illegal, or violative In the case of CMPDIL:- 3. The Management along with the Board of Directors are shall comprise of Independent Directors
of the company’s code of conduct. Tampering with annual leave balances of retired also responsible for ensuring that the Company complies w.e.f 08.02.24.
3. We accept responsibility for establishing and maintaining employees in Regional Institute 7 has come to the with the conditions of Corporate Governance as stipulated
attention of management which has resulted in excess III. Regulation 24(1) of SEBI LODR, regarding the
internal controls for financial reporting and we have in the SEBI LODR, issued by the Securities and Exchange
evaluated the effectiveness of internal control systems payment of H 17.42 lakhs to them and the same has requirement of having at least one Independent
Board of India as well as guidelines issued by the DPE.
of the company pertaining to financial reporting and we been recovered from them. Also insurance payment Director on the Board of Directors of the Listed Entity
have disclosed to the Auditors and the audit committee, amounting to H 1.03 lakhs to the insurance agent for shall be a Director on the Board of directors of
deficiencies in the design or operation of such internal insurance policies of trucks in case of Regional Institute 6 Practising Company Secretary’s Responsibility one Unlisted Material Subsidiary(s) i.e. Mahanadi
controls, if any, of which we are aware and the steps we were identified as fraudulent. Coalfields Ltd.
have taken or propose to take to rectify these deficiencies. 4. Our examination was limited to procedure and
implementation thereof, adopted by the company However, in this regard it has been informed to us
4. We have indicated to the Auditors and the Audit
for ensuring the compliance of the conditions of by the management that Directors are appointed by
Committee that:
Corporate Governance. the Government of India through its Administrative
i. There has not been any significant change in internal
control over financial reporting during the period Ministry and regular representations has been made
5. Pursuant to the requirements of the SEBI LODR ,it is
under reference; to the Administrative Ministry for appointment of
our responsibility to provide a reasonable assurance
Independent Director(s)
whether the company has complied with the conditions
of Corporate Governance as stipulated in SEBI LODR for 9. The Company has taken steps for reviewing of compliance
Sd/- Sd/-
Director (Finance) & CFO Chairman-cum-Managing Director & CEO the year ended 31st March,2024. of Laws. An elaborate system is in place for integration
DIN- 10199741 DIN-08073913 and alignment of risk management with corporate and
6. The procedures include but are not limited to
operational objectives.
Date: 2nd May 2024 verification of secretarial records and other information
Place: Kolkata of the Company.
310 311
Other Matters and Restrictions on use Annexure IV
Corporate Overview
10. We further state that such compliance is neither an assurance as to the future viability of the Company nor of the efficiency or
effectiveness with which the Management has conducted the affairs of the Company. CERTIFICATE OF NON-DISQUALIFICATION OF DIRECTORS
11. The certificate is addressed and provided to the members of the Company solely for the purpose of complying with the [Pursuant to Regulation 34(3) and Schedule V Para C clause (10)(i) of the SEBI (Listing Obligations and Disclosure Requirements)
requirement of the SEBI LODR, and it should not be used by any other person or for any other purpose. Accordingly, we do Regulations, 2015]
not accept or assume any liability or any duty of care for any other purpose or to any other person to whom this report is To
shown or into whose hands it may come without our prior consent in writing. The Members of
COAL INDIA LIMITED
Coal Bhawan, Premises No.04-MAR
For S Basu & Associates Plot-AF-III, Action Area-1A
Company Secretaries
Statutory Reports
New Town Rajarhat
Firm Registration No : S2017WB456500 Kolkata-700156
I have examined the relevant registers, records, forms, returns and disclosures received from the Directors of COAL INDIA
LIMITED having CIN: L23109WB1973GOI028844 and having its registered office at Coal Bhawan, Premises No.04-MAR Plot-
Sd/- AF-III, Action Area-1A New Town, Rajarhat Kolkata-700156 (hereinafter referred to as ‘the Company’), produced before me by the
Saurabh Basu Company for the purpose of issuing this Certificate, in accordance with Regulation 34(3) read with Schedule V Para-C Sub clause
Proprietor 10(i) of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
ACS: 18686 ; C.P.: 14347
Place: Kolkata Peer Review No : 1017/2020 In my opinion and to the best of my information and according to the verifications (including Directors Identification Number (DIN)
status at the portal www.mca.gov.in) as considered necessary and explanations furnished to me by the Company & its officers,
Date: 27.06.2024 UDIN :A018686F000626150
I hereby certify that none of the Directors on the Board of the Company as stated below for the Financial Year ending on 31st
March,2024 have been debarred or disqualified from being appointed or continuing as Directors of companies by the Securities
and Exchange Board of India, Ministry of Corporate Affairs or any such other Statutory Authority.
Sr. Original Date of

Name of Director DIN
No. Appointment in Company
1. Shri Mallikharjuna Prasad Polavarapu 08073913 01/07/2023
2. Shri Nagaraju Maddirala, IAS 06852727 22/02/2023
3. Smt Nirupama Kotru, IRS 09204338 15/06/2021
4. Shri Vinay Ranjan 03636743 28/07/2021
5. Dr . Veera Reddy Boothukuru 08679590 01/02/2022
6. Shri Debasish Nanda 09015566 11/07/2022
7. Shri Mukesh Choudhary 07532479 23/12/2022
8. CA Denesh Singh 08038875 01/11/2021
9. Shri Nageswara Rao Gollapalli 08461461 01/11/2021
10. Shri Bhojarajan Rajesh Chander 02065422 01/11/2021
11. CA Kamesh Kant Acharya 09386642 02/11/2021
12. Shri Punambhai Kalabhai Makwana 09385881 02/11/2021
13. Dr. Arun Kumar Oraon 09388744 05/11/2021
14. Shri Ghanshyam Singh Rathore 09615384 01/03/2023
15. Shri Mukesh Agrawal 10199741 08/02/2024
Ensuring the eligibility for the appointment / continuity of every Director on the Board is the responsibility of the management of
the Company. My responsibility is to express an opinion on these based on my verification. This certificate is neither an assurance
as to the future viability of the Company nor of the efficiency or effectiveness with which the management has conducted the
affairs of the Company.
For S Basu & Associates
Company Secretaries
Firm Registration No : S2017WB456500
Sd/-
Saurabh Basu
Proprietor
ACS: 18686 ; C.P.: 14347
Place: Kolkata Peer Review No : 1017/2020
Date: 27.06.2024 UDIN :A018686F000626194
312 313
Night view of OCP, MCL
Management Discussion and Analysis Report The depth-wise and category-wise break-up of Indian coal resources is as follows:
Corporate Overview
(Resource in million tonne)
Depth Range (m) Proved Indicated Inferred Total % share
0-300 135041.55 59791.49 7061.87 201894.91 53.38
1.0 INDUSTRY STRUCTURE AND DEVELOPMENT tune of 40% of primary commercial energy requirement. 300-600 41627.43 68226.44 12856.84 122710.71 32.45
As India aims to increase its power generation capacity in 0-600 (for Jharia only) 15229.16 26.78 15255.94 4.03
Coal in India and Coal India Limited
coming years, to cater to demand from rising economy, 600-1200 8005.76 23637.35 6702.61 38345.72 10.14
Coal sector plays a crucial role in a country like India population growth and rapid urbanization, a significant Total 199903.90 151682.06 26621.32 378207.28 100.00
where energy security is a critical pillar for sustained portion of the capacity is expected to come from coal itself.
economic growth and prosperity. The energy security At the current rate of production in the country, the reserves are adequate to meet the demand.
of the country and its prosperity are integrally linked to Despite the increasing thrust on development of
efficient and effective use of its most abundant, affordable renewable energy sources, coal will continue to remain 2.0 SWOT ANALYSIS
Statutory Reports
and dependent fuel, coal. the bedrock for India’s energy matrix for the time being,
given its domestic availability as an efficient fuel. Coal is
In Indian economy, a significant proportion of Coal’s likely to remain a significant part of India’s energy mix in Strengths Weaknesses
demand is for power generation in the thermal power the short-to medium term, especially in sectors such as
sector. The balance demand is through non- regulated power generation, steel and cement, where alternative
sectors comprising steel, cement, captive power plants energy sources are not yet fully viable. Large scale of operations allow economies in High cost of production in underground
etc. It is envisaged that new segments such as power scale of production. (legacy) mines.
demand from use of electric vehicles and demand for As per assessment under Vision @2047, coal is likely to
coal from the chemicals sector etc. would also add to the be the major contributor for energy security of the nation. Large coal resource base. Evacuation infrastructure bottleneck in certain
existing demand. Though demand may slow down in coming years, the areas due to the land, statutory clearance and law
Geographical spread of operations in India allows
absolute demand will not be less than the present as & order issues.
Today India is the 2nd largest producer of coal in the proximity to a large and diversified customer base.
base load requirement will continue to be met from coal.
world. The All India Coal Production during 2023-24 CIL and its subsidiaries have planned to achieve 1 BT Inherent inferior quality of indigenous coal due to
Strong financial credentials.
stood at 997.25 MT with a positive growth of 11.65%. production by 2025-26. Further, considering the demand high ash content.
Coal India Limited (CIL) produced 773.647 MT with a of coal in the country, the tentative long term production Skilled and diversified workforce with experience.
positive growth of 10.02% during 2023-24. Singareni Constraints in possession of land.
projections for CIL is expected to peak at 1300 MTPA
Collieries Company Limited (SCCL) production of coal by 2034-35 and it is expected that 1 BT production will Well positioned to cater to high demand of
High wages cost.
during 2023-24 was 70.02 MT with a positive growth continued to be required up to 2047. coal in India.
of 4.30%. Small quantities of coal are also produced by Absence of indigenous manufacturing support.
In terms of availability, coal is the most abundant fossil Consistent track record of growth & strong track
TISCO, IISCO, DVC and others.
fuel available with India. The estimated coal reserves of record of financial performance.
The dependability on coal may be gauged by the fact the country as on 01.04.2023 are 378.21 billion tonnes,
Strong capabilities for exploration, mine planning
that about 49% of India’s installed power capacity is coal which are spread over 69 coalfields, are mainly confined Opportunities
and operations.
(excluding Lignite)-based. CIL produces around 78% of to eastern and south central parts of the country.
India’s overall coal production and it alone meets to the Lowest selling price of coal/ cheapest source of energy. Being a cheaper source of energy compared to
alternate sources available in India, coal to remain key
The Highlights of inventory of Geological Resources of Indian Coal (as on 01.04.2023), prepared by the Geological Survey of primary energy source.
India is tabulated below:
Diversification to non-coal sector.
Threats
A total of 3,78,207.28 Mt of geological resources of coal have so far been estimated in India, up to the maximum Commitments of Panchamrit and Atma Nirbhar Bharat.
depth of 1200 m. Out of the total resources, the Gondwana coalfields account for 3,76,551.74 Mt (99.56%), while the Pressure of international body like UN to comply Paris
Strong economic growth in India and resultant demand
Tertiary coalfields of Himalayan region contribute 1,655.54 Mt (0.43%) of coal resources. The type-wise and category- Agreement & COP26 at Glasgow on climate change to
for energy, particularly coal as an energy source.
wise break-up is given below: curb use of fossil fuel.
(Resource in million tonne)
Large scale Rural electrification and Power for
Coal Type Proved Indicated Inferred Total % share Impact of commercial mining All UDAY scheme.
Prime Coking 5132.65 185.64 0.00 5318.29 1.41
Possibility of availability of low cost imported coal may Export opportunities to neighboring countries.
Medium Coking 16499.51 10266.18 1761.43 28527.12 7.54
Semi Coking 529.68 1081.47 186.33 1797.48 0.48 significantly affect future of indigenous production.
Optimizing production cost through Linkage
Sub-Total of Coking 22161.84 11533.29 1947.76 35642.89 9.43 rationalization.
Increase in proportion of renewables in the energy
Non-Coking 177148.25 140027.60 23733.00 340908.85 90.14
mix and demand stagnation in future. To adopt alternative energy by diversifying into clean
Tertiary 593.81 121.17 940.56 1655.54 0.44
Grand Total 199903.90 151682.06 26621.32 378207.28 100.00 coal technology.
Resistance to part with land, creating problems
% share 52.86 40.11 7.04 100.00 To diversify its operation into solar sector for having
in possession of land and rehabilitation; Rapid
appreciation in land cost. significant presence in India’s overall energy mix.
Enhanced demand of power due to increased use of

electric vehicles.
316 317
3.0 SEGMENT-WISE PERFORMANCE supply to NRS. The e-auction coal booking during FY CIL has already commissioned 15 FMC Projects of 200.5 Operations Outlook:
Corporate Overview
2023-24 was 84.4 MT against 53.4 MT during previous MTPA capacity thus enhancing the rapid loading capacity
Production, Off-take and OBR performances are available In CIL, as on 01.04.24, 119 ongoing mining projects
year. The premium on e-auction during FY 2023-24 was to 351.5 MTPA. 18 FMC projects are expected to be
in Director’s Report. costing 20 Crores and above having capacity of about
72 % as against 252 % in previous year. completed in current FY 24-25. CIL plans to operationalize
896 Mty with sanctioned capital of H 1,33,576 Crores are
all the projects of Phase-I, Phase-II, Phase-III and Phase-IV
The provisional Fuel Supply Agreement (FSA) under different stages of implementation. For achieving
4.0 OUTLOOK: by FY 29-30 thereby having a cumulative Rapid Loading
commitments for Power Sector, NRS and bridge linkage production target in 2024-25, EC for 15 no. of proposals
CIL has envisaged coal supply target of 838 Mt in 2024- capacity of 988.5 MTPA.
were at about 698.6 Million Tonne Per Annum(MTPA) as with incremental capacity of about 39.73 Mty are under
25 which is a growth of more than 8% over the previous different stages of approval. In FY-2024-25, Stage-II FC
on 31.03.2024. The likely demand of CIL coal from Power Overall, CIL is investing about Rs 53,250 Cr in developing
year’s achievement. About 80% of the said production of 11 nos. of proposals involving 2697.27 Ha (tentative)
sector for FY 2024-25 is about 661 MT. The yearly target mechanized evacuation infrastructure under its command
would be consumed by power sector only. CIL’s growth forest land are required to achieve coal production target.
for coal despatch in FY 2024-25 has been set at about 838 areas. The average daily rake- loading through SILO
plan for the future is in synergy with the ambitious plan of Also, total land to be possessed by the subsidiaries of CIL
MT so as to cater to the entire demand of power sector, is expected to improve from 16% to more than 33% in
Statutory Reports
the Government for 24 X 7 power supply to all homes in has been estimated to be 3028.44 Ha for achieving target.
NRS and also to substitute the substitutable imported the FY 2024-25.
the country for which a roadmap to achieve 1 Bt of coal
coal in the country. In order to tap the potential future
production has been prepared. In order to understand the requirements of the The expansion program will be managed in a structured
market for coal consumption and explore alternative uses
consumers, CIL is conducting quarterly zone- wise manner with the help of IT enabled solutions. The
For sustainability and growth, thrust on minimizing the of domestic coal, CIL intends to offer more coking coal
consumer meeting with both power and non-power implementation of ERP solution to enable transparency in
environmental impact is laid for qualitative improvement to steel sector and also supply coal for upcoming coal
consumers separately. Further, subsidiaries also conduct operations, maintenance and support functions is already
in coal production through selective mining, beneficiation gasification projects.
meeting with consumers at regular intervals. In addition underway and has been introduced in all subsidiaries &
& blending, enhancing production from U/G mines and in CIL HQ including NEC. The project implementation of
Coal gasification is a process that is environment friendly to promote ease of doing business, Coal India Ltd. has
diversifying into clean coal technologies. vital mines is being monitored through MDMS portal. CIL
as compared to the combustion of coal and can be a set up a Consumer Grievance Redressal Mechanism
better option for future use of coal. Coal gasification, to help redress the grievances of consumers related to has taken initiatives for implementation of digitization of
Apart from creating new railway infrastructure, optimum
a transformative technology, holds the potential to coal supplies and other related issues. Consumers can mines for improving operational efficiency which have
utilization of existing capacity through linkage auction
significantly benefit the Indian economy by addressing email their grievances along with supporting documents been implemented in seven (7) mines of NCL & SECL.
scheme is being ensured through an in-built system of
source rationalization for non-regulated sector. Further, it energy security, reducing greenhouse gas emissions, and to [email protected] CIL endeavours to
The Company has already concluded two studies
has been envisaged to ensure despatches through “First fostering economic growth. evaluate and resolve the grievance at the earliest.
through reputed consultant for assessing the possible
Mile Connectivity (FMC)” to consumer through non-road mechanization and automation levels across a substantial
The demand of coal for coal gasification may increase to Customer satisfaction through quality assurance and
mode like conveyors, MGR/Rail etc. number of mines. This is aimed at identification of
about 100 MTPA by the year 2030. In order to support the transparency in business operations have been the
gasification initiatives, CIL has created a separate window priority areas for CIL. The initiatives taken to build opportunities in mine planning, exploration, survey,
CIL is also exploring opportunities to diversify into ‘coal
under NRS auction policy for coal gasification. Consumers’ confidence and satisfaction include supply operations and maintenance.
to chemical’ business (CTL, SCG etc.). This is to ensure
greater value addition and thereby improving financial of only sized coal as per FSA provision to power sector
To have a seamless evacuation system for the projected In order to infuse State-of-the-art technology & efficiency
performance of the company, and ensuring long consumers, extension of third party sampling facility
production, an action plan to enhance and strengthen of private sector, initiatives have been taken up for
term sustenance. to all sectors of consumers under all schemes through
the infrastructure of coal evacuation for existing, ongoing development & operation of new mines/blocks through
deployment of empanelled Third Party Agencies (TPA),
and future projects of subsidiary companies is in place. MDO route. Further, CIL has identified 36 nos. of closed/
CIL has planned a capital investment of Rs 15,500 Crores as per the choice of consumer, restriction of grade
Rail infrastructure is being built both on ‘Deposit Basis’ as abandoned/discontinued underground mines as of
for maintaining its volume growth in 2024-25 and beyond. slippages, timely issuance of credit/debit notes on quality
well as by forming SPVs with Rail PSUs and the concerned now for operation through MDO route. Out of this LoA
In addition, the company has also envisaged for investing grounds under purview of FSA etc.
State Govt. at an investment of about Rs 20,000 Crore. has been issued for 20 mines out of which agreement
substantial amount in different schemes in 2024-25 such
Recently, after discontinuation of services by CIMFR, signed for 15 mines.
as development of railway infrastructure project, solar
All these new rail projects when fully commissioned shall eleven third party sampling agencies was empaneled by
power, Thermal Power Plants, Coal Bed Methane (CBM), With a vision to extract coal environmentally and socially
add about 365 MTPA coal evacuation capacity to the an independent entity under Ministry of Power to cater
revival of fertilizer plants etc. friendly manner, CIL is now looking forward to enhance
Indian railway network. Out of this 365 MTPA capacity, to both power as well as non-power sector. Further, CIL
about 250 MTPA capacity has already been added to the its production from underground mining. As the open
Marketing Outlook: is also empaneling more third party sampling agencies
Indian railway network and construction works for the castable coal is likely to be exhausted in the near future
The total power generation (incl. RES) in the country exclusively for non-power sector. This will give a wide
balance capacity addition is in progress and is anticipated and high capacity State-of-the -Art underground mines
grew to about 1739 BU clocking a growth of nearly 7 %. range of options to the consumers to choose TPA from
to be completed by Aug’26. shall be poised for the following:
The coal-based generation in FY 2023-24 was projected the empanelled agencies.
at 1255 BU with a likely growth of 9.5 % over FY 2022- Apart from the above, CIL is also developing new First Identification and planning of large high capacity
With the objective of enhancing transparency in the
23. The actual coal based generation in the country for Mile Connectivity (FMC) rail connectivity and Railway State-of-the-Art underground mines at depth below
dispatch of quality coal, UTTAM (Unlocking Transparency
FY 2023-24 was 1261 BU with a 10 % growth over the Sidings with a capital investment of about Rs 5,500 Crore. 250 Mtr. and at places with environmental restriction.
by Third Party Assessment of Mined Coal) portal was
previous year. The domestic coal based generation grew
created to provide the customers an overview of the With large nos. of old/discontinued/abandoned
to 1177 BU (6.5% growth over previous year). Taking Mechanized and Computerised loading
quality of coal being dispatched. potential OC mines now lying idle are being
into consideration the growth of power generation and In addition to the 151 MTPA Rapid Loading capacity of identified for being taken-up through Highwall
consequential increase in coal demand, the target of coal CIL as on Aug’ 2019, CIL has also taken steps to upgrade In order to expedite and facilitate the reconciliation of
mining. CIL envisages 30 such HW mines to be
despatch for FY 2023-24 was 780 MT. The demand for the mechanized coal transportation and loading system coal bills on a regular basis, an online reconciliation portal
implemented within a span of 5-6 years. So far 5 HWs
supply to power sector was projected as 610 MT against under 'First Mile Connectivity' projects in four phases at has been developed by Coal India Limited. Consumers
in 4 mines have been implemented and 7 more are
which Coal India Limited (CIL) supplied 619.7 MT(5.6 % an estimated capital investment of about H 27,750 Crore. as well as subsidiaries are performing bill wise as well
at different stages of implementation of which LoA
growth over previous year) as periodic reconciliation online. As on date all Power
issued for 2 mines and tender floated for 1 mines.
75 FMC projects of 837.5 MTPA are being implemented Sector consumers are actively using the Portal. CIL is
The coal supply to Non Regulated Sector(NRS) was 134.4 to consolidate CIL’s effort towards upgradation and encouraging Non- Power CPSEs and CPPs to register and As such, CIL has already formulated UG vision plan
MT (23.8 % growth over previous year). This is the highest expansion of coal evacuation infrastructure. reconcile their bills through this portal. wherein it has been envisaged 100 Mt production
318 319
from its UG mines by 2029-30. CIL has planned annual energy consumption of approximately 4600 Research & Development: firms of accountants in close co-ordination with the
Corporate Overview
to introduce more and more Mass Production million units. Coal India Ltd is well poised to adopt clean Company's Internal Audit Department. The Reports are
CMPDIL is the nodal agency for coordination and
Technology (MPT) in its UG mines and planned energy to cater to its electrical energy requirement. The periodically reviewed by the Audit Committee.
monitoring of S&T projects in the coal sector as well as the
to implement 140 Continuous Miners (CM) for total solar energy generated during 2023-24 was about
R&D projects of CIL. The details of S&T and R&D projects Further, the accounts of the Company are subject
achieving the milestone of 100 Mt UG production. 20.22 million units through its installed RE units which is
taken-up by CMPDI on behalf of CIL are as in Annexure A. to C & AG audit in addition to the propriety audit
196 % more than the previous year. In this endeavor, CIL
An exercise has been initiated for obtaining has planned to become a net-zero energy company by conducted by them.
relaxation in mandate in order to facilitate working/ setting up 3 GW Solar Power Projects to offset the current 5.0 RISKS AND CONCERNS
extraction of coal below Forest Land in virgin seams The Internal Financial Controls of the Company were
fossil fuel-based power requirement. CIL intends to add CIL has a comprehensive Risk Management Framework
and seams standing on pillars. reviewed and certified by Internal Auditors appointed.
another 2 GW of renewable energy, aiming for a total which consists of :- The Company has, in all material respects, laid down
installed capacity of 5 GW. CIL has also incorporated a
To support increase in production on a sustainable internal financial controls (including operational controls)
subsidiary company namely ‘CIL Navikarniya Urja Limited (a) Process to identify, prioritize and formulate
Statutory Reports
basis, synergic growth in exploration is also envisaged. and that such controls are adequate and were operating
(CNUL) to venture into the new Business areas of new and mitigation plans for prioritized risks/RTMs (Risk
Increased use of hydrostatic drilling with PCD bits and effectively during the year ended 31st March, 2024.
renewable Energy (Non-conventional) segments. That Matters) &
3D Seismic Survey Technology to achieve high rate in
exploration have been planned. CIL will continue to focus 7.0 DISCUSSION ON FINANCIAL PERFORMANCE
CIL envisaged a three-pronged strategy to achieve the 5 (b) Framework for Roles & Responsibilities of various
on increasing its reserve base in India. WITH RESPECT TO OPERATIONAL PERFORMANCE
GW Renewable plan. officials, committee and Board in discharging the
Risk Management Process. FINANCIAL DISCUSSION AND ANALYSIS
CIL is also in the process of augmenting the capacity of • Development of Solar Projects in available land
training institutes across subsidiaries, including IICM. parcels and rooftop spaces at subsidiaries of CIL As part of Risk Management Framework, Risk owners Driven by the commitment to meet the nation’s growing
Several other actions for building human resource wherever feasible. and Mitigation Plan owners have been identified for energy demands, group achieved robust operational
capacity are being contemplated in collaboration with each risk & corresponding mitigation plans formulated to performance in the 2023-24 fiscal year, thereby
reputed institutions within the country and even abroad • Development of Solar Projects in states with high ensure continuous risk assessment and mitigation. A sub- strengthening its financial position.
in their respective fields. potential like Rajasthan and Gujarat etc committee of Board of Directors i.e. Risk Management
The current capital expenditure (CAPEX) has
Committee (RMC) has been constituted in compliance
Outlook for Sustainable Growth: • Developing solar projects by participating in solar reached an unparalleled milestone of H 23,475.41
with SEBI (LODR) Regulations 2015. The RMC provides
Coal India and its subsidiaries have cumulative electricity tenders of SECI/DISCOMs/Power exchanges etc. crore against the previous year of H 18,619 crore
direction and evaluates the effectiveness of Risk
contract demand of 1100 MVA approximately with an recording a growth of 26%. Growth is mainly on
Management Framework.
account of capitalization of H 3,699.73 Crores as
Chief Risk officer (CRO) of CIL and his team under the Stripping Activity Assets in the Note – “Property, Plant
CIL action plan for the development of 5 GW of solar power is as under: direction of Risk Management Committee of CIL assess and Equipment” due to change in accounting policy.
the risk to the company and formulate the risk mitigation
CIL 5 GW Renewable Plan Contribution to Government exchequer during the
plan for prioritized risks and facilitate its implementation.
Solar Installation till current Financial Year stood at H 60,198 crore against
Plan Till FY 28-29 2024-25 2025-26 2026-27 2027-28 2028-29 the previous year contribution of H 56,524 crore.
2023-24 As per decision of Risk Management Committee, Risk
related to Cyber Security has been included in RTMs.
Capacity in (MW) 82.68 457 1415 750 1050 1250 Increase in the procurement through GeM in the
Special thrust has been given to check illegal mining by
current fiscal to the tune of H 99,305.38 crore from
Drone application. CIL is monitoring and implementing
a) 70 MW (50 MW NCL, 20 MW SECL) Ground MW of Solar projects are under Tendering Stage/ H 3,236.97 crore in the corresponding previous year.
mitigation measures on continuous basis.
mounted Solar & 1.629 MW Roof Top Solar project various stages of approvals. Out of 457 MW, CIL is
Increase in CSR expenses by 12%
was commissioned in FY 23-24. implementing 307 MW on its own land. 6.0 INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY
The aforementioned elements provide a partial insight
b) CIL secured 300 MW capacity in the KHAVDA Solar e) BCCL- 45 MW, CCL – 44 MW, ECL-35 MW, MCL- Coal India Limited (CIL) has a robust internal control
into the lateral perspective of its financial advancement
Park as part of its Pan India Participation in GUVNL 50 MW, SECL-20 MW, and WCL- 15 MW are under systems and processes for smooth and efficient
and robustness. Further elaboration on the financial
Tender (Phase XXI). CIL is establishing this solar various stages of implementation. conduct of business and complies with relevant laws
performance, standing, and cash flow of the group is
power project in Gujarat to supply solar power to and regulations.
f) 100 MW Gujarat, 40 MW- SECL, 21.5 MW- MCL, 35 delineated below.
GUVNL for 25 years.
MW- WCL, CCL-23 MW, and ECL-10 MW are under A comprehensive delegation of power exists for smooth
c) CIL entered into an MOU with Rajasthan Rajya various stages of Tendering/Approvals.
Group Financial Performance
decision making. Elaborate guidelines for preparation of
Vidyut Utpadan Nigam Ltd (RVUNL) on 10th March accounts are followed for uniform compliance. Further, Assessing the financial performance of the group offers
24 to establish 4100 MW projects through a Joint g) Approximately 18 MW Rooftop solar power projects all the key functional areas are governed by respective valuable insights into its progress toward achieving its
Venture Company between RRVUNL and CIL. These are under various stages of implementation at operating manuals. financial goals. The provided financial highlights and key
projects include the commissioning of pithead coal- Subsidiaries. More rooftops are being identified to performance ratios play a crucial role in evaluating the
based thermal power projects, solar projects, pump meet the residential/commercial load of subsidiaries The top management monitors and reviews various group's business performance by presenting a succinct
storage plants (PSP), and wind projects to reduce the power cost. activities on continuous basis. A set of standardized overview of essential financial metrics and shedding light
procedures and guidelines has been issued for all on operational efficiency. These highlights and key ratios
d) CIL is implementing an overall 457 MW of Solar h) CIL is also exploring the feasibility of repurposing the facets of activities to ensure that best practices are provide a glimpse into the group's overall financial well-
projects in FY 24-25. 209 MW, of ground-mounted abandoned mines/Closed mines for Pump Storage adopted and those percolate even up to ground level. being and recent accomplishments.
solar projects and 18 MW of rooftop solar projects Projects. Additionally, CIL is also exploring installing
are in various stages of implementation and will floating solar over abandoned query/ reservoirs and In order to ensure that all checks and balances are in place
be commissioned in FY 24-25. Approximately 230 ground-mounted solar over stabilized OB dumps. and all internal control systems are in order, regular and
exhaustive internal audits are conducted by experienced
320 321
Key financial performance ratios
Major Highlights
Corporate Overview
Particulars Unit 2023-24 2022-23 Variation
Capex Revenue from Operation EBITDA1 H crore 51,793 47,723 9%

Profit Before Tax (PBT) H crore 48,812.61 43,275 13%
(J in crore) (J in crore)
Profit for the Period (PAT) H crore 37,369.13 31,723 18%
Earnings per Share (EPS) H 60.69 51.54 18%
Dividend per Share (DPS)** H 25.50 24.25 5%
23475 Operating Margin2 % 30% 28% 2%
142324 Net Profit Margin3 % 29% 25% 4%
EBITDA Margin4 % 40% 37% 3%
26% 3%
Return on Capital Employed (ROCE)5 % 27% 28% (1)%
Statutory Reports
Return on Net Worth (RoNW)6 % 52.07% 61.04% (9)%
Interest Coverage Ratio7 Times 61 64 (6)%
18619 138252 *FY2022-23 restated
**including recommended final dividend, which is subject to approval in AGM.
1. Earnings before interest, depreciation and tax (EBITDA) = Profit before Tax + Finance Cost- Interest Income + Depreciation & Amortisation
2. Operating margin = Operating profit to revenue from operation; operating profit = PBT – Other Income- Share of joint venture profit and loss +
Finance cost + CSR expense + provisions and write off made during the year
3. Net profit margin = PAT to net sales
FY2022-23 FY2023-24 FY2022-23 FY2023-24
4. EBITDA margin = EBIITDA to net sales
5. ROCE= EBIT to average capital employed; EBIT = Profit before Tax + Finance Cost- Interest Income; Capital employed = Total Equity + Total non
Profit Before Tax Profit After Tax current liabilities
6. RoNW = PAT to average net worth
(J in crore) (J in crore)
7. Interest coverage ratio = (PBT+ Finance cost) to finance cost
48813 37369
13% 18%
Outshining all its previous records, group achieved stripping activity amounting to H 3,309 crore and another
unprecedented profitability driven by record production, H 2,229 crore on account of operational efficiency.
43275 31723 offtake and operational efficiency during financial year
38001 28125 2023-24. During the fiscal year, it registered a pre-tax The Board of Directors of the holding company has
profit (PBT) of H 48,813 crore and a post-tax profit (PAT) of recommended a final dividend of H 5 per equity share,
H 37,369 crore. The increase in PBT stands at 13% compared subject to approval in the ensuing AGM. This final
to the previous year (restated), while PAT and EPS witness dividend is over and above interim dividends of H 20.50
growth rates of 18% over the same period (restated). which were paid to its shareholders during the current
year. Thus, the total dividend for the FY 2023-24 is H 25.50
During the year, based on an opinion from the Accounting per share which is 255% of Face Value of H 10 per equity
Standard Board (ASB) of the Institute of Chartered share against the previous year of H 24.25 per share.
Accountants of India (ICAI), the group implemented a
revised accounting on stripping activity in accordance The operating margin went up by 2% i.e. from 28% to 30%
FY2022-23 FY2022-23 Restated FY2023-24 FY2022-23 FY2022-23 Restated FY2023-24 with Appendix B Stripping Costs in the Production Phase during the current year. This is mainly due to decrease
of a Surface Mine, of Ind AS 16, Property Plant, and in cost of materials consumed and employee benefit
Equipment. Accordingly in accordance with Ind AS 8, expenses. Similarly, there has been increase of 4% i.e.
Earning Per Share Dividend Per Share
‘Accounting Policies, Changes in Accounting Estimates from 25% to 29% in net profit margin. Decline in return on
(J) (J) net worth is mainly due to increase in average net worth
and Errors’ and Ind AS 1, ‘Presentation of Financial
Statements’, the group has retrospectively restated its by 38% from H51,973 crore to H71,767 crore as compared
Balance Sheet as at 31st March 2023 and Statement of to this PAT only grew by 18%.
60.69 Profit and Loss for the year 2022-23.

25.50 Interest coverage ratio decreased from 64 to 61 due to
The adoption of the above revised accounting of stripping increased borrowings by ECL and subsidiary of SECL
18% 5%
activity during the year has resulted in the restatement over previous year. Capital employed increased by 14%
of previously reported profit before tax of FY 2022-23 over previous year due to increase in other equity by 38%
H 38,001 crore to H 43,275crore i.e. increase by H 5,274 and negligible change in non-current liabilities whereas
51.54 24.25 crore. During the year, growth in PBT is on account of PAT increased by 13% resulting in decrease in return on
two facet, one is increase due to change in accounting of capital employed by 1%.
FY2022-23 Restated FY2023-24 FY2022-23 Restated FY2023-24
322 323
A Comprehensive analysis of the group’s financial and transportation charges recovered (net of levies) Cost of materials consumed (Note 13.1): cost for excess overburden removal over the expected
Corporate Overview
performance, based on the Consolidated Financial during the year was H 7,050 crore against H 6,139 crore in The cost of material consumed relates to materials and overburden removal is capitalised to the stripping activity
Statements the previous year mainly due to an increase in offtake and items of stores used in coal mining and processing asset. During the year capitalisation of improved access to
average surface transportation charges rates. Evacuation operations, primarily POL, explosives, HEMM spares, coal of H3700 crore in comparison to H 1,497 crore in last
Refer to the consolidated financial statements in
facility charges are billed on all dispatches to customers at and timber. Other consumables used in coal mining year is again portrayal of group’s excellent performance
this Integrated Annual Report for detailed financial
the rate of H 60 per tonne. Increase in offtake contributed operations include tyres, spares for other plants of overburden removal over expectation.
statements, schedules and notes.
to the increase in evacuation facility charges (net of levies) and machinery relating to coal handling plants and
H Crore Other Expenses (Note 13.8):
from H 4,161 crore in the previous year to H 4,513 crore in beneficiation facilities, and other miscellaneous stores
Particulars 2023-24 2022-23 Variation
the current year. and spares. The cost of material consumed has reduced Major components affecting the surge in the other
Net Sales 1,30,326 1,27,627 2% expenses by 21% are deliberated below:
by H 1,977 crore (15%) from H13,557 in FY 2022-23 to
Other Operating 11,998 10,624 13% Revenue from services mainly includes consultancy and
H11,580 crore in FY 2023-24. Decline in explosive prices
Revenue other services provided by CMPDIL, a subsidiary of CIL In adherence to guidelines issued by the Department of
Statutory Reports
and average bulk diesel rates has resulted in cost saving
Other Income 7,969 6,560 21% to parties outside the group, and freight income from rail Public Enterprises and the provisions of The Companies
benefits to the group to the tune of H 1,298 crore and
operation by the subsidiary companies of SECL and MCL. Act, 2013, Group has developed its CSR Policy. In
H 825 crore respectively.
The Revenue from services stood at H 433 crore (net of accordance with the policy, the Group undertakes CSR
levies) in FY 2023-24 against H 321 crore (net of levies) Employee benefit expenses (Note 13.3): activities out of the themes listed in Schedule-VII of the
Other By Product 1% in FY 2022-23. Companies Act. The group incurred H654 crore during the
FSA 79% The most significant expense of the group, employee
current year which is 12% higher when compared to CSR
NET SALES E-Auction 17% Other Income (Note 12.2): benefit expense covering 48% of the total expense,
expenses of H587 crore incurred during the previous year.
Washed Coal (Coking) 2% shows human resource strength of the group. Employee
Other income includes interest income from deposits
Washed Coal (Non Coking) 1% Benefits expenses include salary, wages and allowances,
with banks, gain on the sale of mutual funds, rental There has been increase in repair and maintenance
contributions to provident fund, pension and gratuity, staff expenses on plant and equipment by H 137 crore.
income, write-back of provisions and liabilities, other
welfare expenses, overtime payments, leave encashment, Recognition of expected credit loss H815 crore during
miscellaneous income, etc. During the year, other income
attendance bonus, productivity and performance linked the year on trade receivables led to increase in
Sales (Note 12.1): increased by H 1,409 crore (21%) from H 6,560 crore to
bonus and other incentives, and other employee benefits. provision. Surge in the expenditure on environment
H 7,969 crore.
Sales are presented as gross sales in notes to financial and tree plantation by whooping 26% over last year, is
statements and net of various statutory levies in the The employee benefit expenses incurred during the current
There is increase in interest income by H1,505 crore mainly witness of group’s perseverance towards environmental
statement of Profit & Loss comprising royalty, GST, GST year has declined by 1% as compared to the previous year.
due to increase in interest income on income tax refund consciousness and awareness.
Compensation cess, cess on coal, payment to national There is a net reduction in manpower by 10,349 employees
by H 935 crore as compared to previous year. There is
mineral exploration trust (NMET), district mineral during the current year, and there was provision for arrear Government of Jharkhand has brought a scheme "The
also increase in miscellaneous income by H346 crore due
foundation (DMF) and other levies etc. The Income from salary of around H 8,153 crore in previous year. NCWA-XI for Jharkhand Karadhan Adhiniyamo ki Bakaya Rashi ka
to increase in bank guarantee encashment, penalty and
the sale of coal is mainly dependent on the notified the Non-Executives has been implemented in June 2023, Samadhan Adhiniyam 2022" (in short "Kar Samadhan
liquidated damage from suppliers, processing fee income
price and e-auction premium which depends on the and salary is being paid at a revised rate now. Yojna 2022") for settlement of old arrears and disputes
for e-auction etc. Further there is decline in of H 505 crore
demand of coal. in liabilities write back as compared to previous year. of JVAT Act 2005, CST Act 1956, Electricity Duty Act 1948
Contractual expense (Note 13.7):
etc. Accordingly old pending cases of CCL and BCCL has
H Crore
Group recorded the all-time high sales H 1,30,326 crore Contractual expenses which primarily consist of been settled under scheme during the year which led to
Particulars 2023-24 2022-23 Variation
with increase of 2% over previous year due to record transportation charges for coal, sand, and materials carried increase in the rates and taxes expenses by H 649 crore.
offtake in financial year 2023-24. During the year, the Cost of Materials 11,580 13,557 (15%) out through third-party contractors, contractor expenses Further in NCL, recognition of provision for terminal
group achieved an offtake of 753.52 million tonnes against Consumed relating to wagon loading operations, outsourcing taxes caused increase in rates and taxes by H 497 crore
694.69 million tonnes in the previous year, registering an Employee Benefit 48,783 49,410 (1%) contracts related to Overburden removal (OBR) and during the year.
increase of 8%. FSA sales increased by H 11,439 crore Expenses Coal extraction activities and other miscellaneous works
as compared to previous year due to volume growth in Contractual 27,598 23,289 19% carried out through third-party contractors for haul road In miscellaneous expenses, H514 crore was recognised
FSA sales quantity and increase in the FSA average price Expenses maintenance at mines and temporary lighting etc. during the year for SECL payable to Ministry of Coal in
per tonne by 4%. E auction quantity registered a volume Stripping Activity (6,138) (3,622) 69% respect of profit accrued on Gare Palma mines for which
growth of 13% and sharp decline of 37% in the e-auction Adjustment Increase in the contractual expense is mainly reflection Coal India Ltd. was appointed as custodian akin to a
average price from H 4,841 to H 3,059 per tonne. This sharp Other Expenses 14,052 11,577 21% of group’s tremendous operational performance of designated custodian.
decline in e-auction has adversely impacted the sales by incremental 60 Mill. Te. of coal and 310 McUM of
contractual overburden removal over last year. Increase in Dividend Pay-out:
H 8684 crore in comparison to FY 2022-23 despite the
volume growth of 13%. Thus overall quantitative growth Changes in inventories of
hiring charges of outsourcing contracts of H3,780 crore and The Board of Directors of the company has recommended
in sales has propelled the growth in net sales value by 2% finished goods, stock-in -2% transportation charges of H 225 crore has been recorded. a final dividend of H 5.00 (50.00%) per equity share
in spite of the decline in the overall average realisation -trade and work-in-progress subject to approval in the forthcoming Annual General
Employee benefits expense 48% Stripping activity adjustment (Note 13.6):
price per tonne during FY 2023-24 H 1728 per tonne as Meeting of the company. The first interim dividend of
Finance costs 1%
compared to last year of H 1835 per tonne. COMPOSITION This expense adjustment pertains to open cast mines. H 15.25 (152.50%) per equity share and second interim
Depreciation, amortization and
OF EXPENSES 7% Stripping activity adjustment comprises mainly reversal dividend of H 5.25 (52.50 %) per equity share for the
impairment expenses
Other operating revenue (Note 12.1): of stripping activity provision and recognition of financial year 2023-24 were declared on 10th November
Stripping activity. adjustment -6%
A major element of other operating revenue is Contractual expenses 27% improved access to coal. Stripping activity provision is 2023 and 12th February, 2024 respectively, resulting into
transportation charges recovered from the customers. Other expenses 14% being reversed systematically whenever the situation of total dividend of H25.50 (255.00%) per equity share. In
The company charges transportation costs for the Cost of materials consumed 11% reversal arises as per material accounting policy of the FY 2022-23, the holding company has declared a total
transportation of coal to dispatch points under various Group. Improved access to coal arises when the actual dividend of H 24.25 (242.50%) per equity share in the
slabs of distance and corresponding rates. The loading volume of overburden removed is greater than the form of final dividend H 4.00 (40%) per equity share and
expected volume of overburden removal. The stripping interim dividend of H20.25 (202.50%) per equity share.
324 325
A summary of the financial performance of the wholly owned domestic coal producing subsidiary companies The growth in gross sales and increase in average debtors is by almost same proportion, keeping the turnover ratio intact.
Corporate Overview
and Central Mine Planning & Design Institute during the financial year 2023-24: There has been significant improvement in the debtor’s collection. Inventory turnover ratio has declined due to increase in
H Crore average inventory by 18% whereas there has been marginal increase of only 1% in cost of goods sold. Increase in inventory
Equity Gross Dividend for holding from 36 days to 42 days of production is basically due to higher coal production performance of 10% over previous
Company PAT
Investment Turnover the year*
year in comparison to offtake growth of 8%. Net worth to equity capital has increased due to an increase in closing net worth.
Eastern Coalfields Limited (ECL) 4,269 19,000 252 - Additional non-current borrowings by subsidiary companies of SECL and CCL have led to increase in long term debt to
Bharat Coking Coal Limited (BCCL) 4,657 17,601 1,564 44** equity capital ratio. Group has maintained its current ratio within ideal expected range.
Central Coalfields Limited (CCL) 940 23,342 3,661 1,099
Northern Coalfields Limited (NCL) 126 34,425 8,318 3,943 A Comprehensive analysis of the group’s financial position, based on the Consolidated Financial Statements
Western Coalfields Limited (WCL) 297 23,281 3,245 - Refer to the consolidated financial statements in this Integrated Annual Report for detailed financial statements,
South Eastern Coalfields Limited (SECL) 278 38,905 6,877 2,092 schedules and notes.
Mahanadi Coalfields Limited (MCL) 132 37,201 11,842 8,600 H Crore
Statutory Reports
Central Mine Planning & Design Institute Limited (CMPDIL) 19 2,041 503 100 Particulars 31.03.2024 31.03.2023* Change
*Including final dividend recommended, which is subject to approval in respective AGM of the subsidiary companies.
Net Tangible Fixed Assets (PPE, CWIP and E&E) 87689 77222 14%
Net Intangible Assets 6,940 4,947 40%
** Preference dividend
Investments 7,110 7,139 (0.4)%
Proportion of ownership and share in financial performance of joint venture companies considered for the Inventories 10,177 8,155 25%
year: Cash & Cash Equivalent and Other Bank Balance 30,235 39,922 (24)%
H Crore Trade Receivables 13,256 13,060 2%
Profit/(loss) Other Financial Assets 20,709 19,017 9%
Equity Share Share in
Company Of Joint Other Current and Non-current Assets 48,899 41,041 19%
Investment Holding profit (loss)
Venture
*restated
International Coal Venture Private Limited (ICVL) 3 0.19% - -
CIL NTPC Urja Private Limited 0.08 50% 0.04 0.02
Net tangible fixed assets (PPE, CWIP and E&E) (Note induction of additional plant and equipment in mines to
Talcher Fertilizers Limited (TFL)* 805 33% (9) (3)
3.1 to Note 3.3): achieve higher production milestones.
Hindustan Urvarak & Rasayan Limited (HURL) 2,643 33% 1324 442
Coal Lignite Urja Vikas Private Limited (CLUVPL) 0.01 50% 0.13 0.07 Additions to gross block of property plant and equipment
Cash & cash equivalent and other bank balance (Note
are mainly on plant and equipment of H 7,019 crore, other
4.4 to Note 4.5):
*In TFL loss of H 35.10 Crores (CIL share of loss H 11.70 crore) pertaining to FY 2022-23 was taken as adjustment in current year as the same was not land H 3,194 crore, building H 1,178 crore and railway siding
considered in their provisional statements of previous year. H 378 crore. Further addition of H 3,700 crore for stripping Group’s balance mainly comprises deposits with
activity assets, H 898 crore in other mining infrastructure scheduled commercial banks in current and term
and H 206 crore is in site restoration cost. Net addition deposits. Discussion on inflow and outflow of cash and
Group Financial Position in exploration and evaluation is H 333 crore. Total charge cash equivalent is covered in group cash flow position
Financial position analysis of the group involves evaluating its financial statements to assess its overall financial health and of depreciation, amortization and impairment during the section of this discussion.
stability. This analysis primarily focuses on the balance sheet, which provides a snapshot of the company’s assets, liabilities, year on property plant and equipment is H 6,326 crore.
and shareholders’ equity as at 31.03.2024. Key elements include current assets, such as cash and inventory, which indicate Trade Receivables (Note 4.3):
Net intangible assets (Note 3.4 to Note 3.5):
liquidity, and fixed assets like property and equipment, representing long-term investments. Liabilities are scrutinized
Trade receivables are mainly from central and state public
to understand the company’s debt levels and obligations. The equity section reveals the owners’ stake in the company, Addition in Intangible assets under development of sector entities of power and steel industries. Groups
highlighting retained earnings and contributed capital. Ratios such as the debt-to-equity ratio, current ratio are calculated to H 1,541 is mainly for rail corridor under development of trade receivable excluding unbilled dues and allowance
evaluate leverage, liquidity, and financial resilience. This comprehensive analysis helps stakeholders, including investors and subsidiary companies of South Eastern Coalfields Limited for expected credit loss stood H 13,905 crore against
creditors, to gauge the company’s ability to meet its short-term obligations and sustain long-term growth. namely Chhattisgarh East Railway Limited (CERL) and H 14,893 crore of last year. In spite of growth in sales,
Chhattisgarh East-West Railway Limited (CEWRL). trade receivable outstanding has improved from 29 days
Key financial position ratios
to 26 days of gross sales, due to the management’s strong
Investments (Note 4.1):
Particulars Unit FY 2023-24 FY 2022-23 Variance focus on ensuring timely collection from customers.
Debtors Turnover Ratio1 Times 13 13 - Non-current investment comprises mainly investment
Other financial assets (Note 4.6):
Days Sales Outstanding2 Days 26 29 (10)% in Joint venture companies. During the year H 347 crore
Inventory Turnover Tatio3 Times 14 17 (14)% was invested in Hindustan Urvarak and Rasayan limited. It includes mainly security deposits from vendors,
Days in Inventory (Qty)4 Days 42 36 17% Group has accounted profit of H 427 crore in comparison deposit in escrow account of mine-closure plan, deposit
Current Ratio5 Times 1.70 1.57 8% to loss of H8 crore in previous year as share in profit and for shifting and rehabilitation fund, other deposits and
Long-Term Debt: Equity Capital Times 0.91 0.67 36% loss of its joint venture companies. receivables and accrued interest. During the year, Coal
Net Worth: Equity Capital Times 13 10 36% Controller Organisation (CCO) has changed the system
Inventories (Note 5.1):
of deposit in escrow account from year-end deposit to
1. Gross sales to average gross trade receivables excluding unbilled dues
Growth in coal production has resulted in an increase in advance deposit. As a result during the year H 1,320 crore
2. Gross trade receivables excluding unbilled dues to average daily gross sales
stock of raw coal of 20 Mill. Te. as compared to previous has been deposited in escrow account for FY 2023-24
3. Cost of goods sold to average inventory
year, thereby surging value of stock by H 1,466 crore. and advance for FY 2024-25. There has been realisation
4. Closing coal stock quantity to average daily production
Value of store, spares and other inventories has also of other deposits and claims of H 459 Crores and increase
5. Current assets to current liabilities
augmented by H 593 crore mainly due to continuous in accrued interest on bank deposits by H 510 crore.
326 327
Other current and non-current assets (Note 6.1 to Note 6.2): 2023 has been released during the year. This has caused II. Industrial Relations: -
Corporate Overview
the sharp decline in the employee benefit provision by
Continuous capex growth trend and future plan of the group has steered the increase in capital advance by H 2,993 crore. The following pro-active and strategic Industrial Relations
H 8478 crore. The second main reason for reduction of
Parallel to mine expansion and production, incessant mine closure activities are also being undertaken by the group in line (IR) approaches & practices have ensured harmonious &
provision has been the systematic reversal of stripping
with its committed plans. Increase in progressive mine closure cost receivables from escrow fund of H 1,022 crore during sustainable industrial relations in the company: -
activity provision by H 2438 crore in the mines where volume
the year is thriving depiction of group’s mine closure commitment. Deposits and receivables has increased by H 1,004 crore of overburden removed during the year has been more a) Workers Participation in Management: -
during the year mainly due to increase in deposit under protest for income tax cases. Increase in GST input tax credit of than expected volume of overburden removal. Increase
H 2,693 crore is majorly attributed to inverted duty structure in the Coal Industry. Several bilateral fora such as Apex JCC, Corporate
in provision for Gratuity, Leave encashment and post-
JCC/ Steering Committee, Safety Committee,
H Crore retirement medical benefit due to reduction in discounting
Housing Committee, Welfare Board/ Committee,
Particulars 31.03.2024 31.03.2023* Change rate from 7.30% to 7.00%, has been inversely compensated
etc. are functional in order to resolve the issues
Equity Share Capital 6,163 6,163 - by increase in respective plan assets balances. As a result,
pertaining to service conditions, welfare, safety,
Other Equity 76,567 54,680 40% there is overall marginal increase of only H 112 crore for
Statutory Reports
etc. of employees. Besides, structured Industrial
Borrowings 6,289 4,115 53% these employee benefits in the provision head. There has
Relations meetings are held with the Trade
Trade Payables 8,386 8,549 (2)% been increase in the mine closure provision of H 396 crore
Unions periodically.
Other Financial Liabilities 19,617 16,014 23% net of withdrawal during the period.
Other Current and Non-current Liabilities 36,552 38,915 (6)% b) Contract Labour Cell:-
Group Cash Flow Position
Provisions 80,992 91,339 (11)%
H Crore Approximately, 1,11,124 Contractors’ workers ( as on
*restated
Particulars 31.03.2024 31.03.2023 31st March 2024) were deployed by the contractors
Cash and Cash Equivalent as 5,627 7,063 in various activities of the company
Equity Share Capital (Note 7.1): Other Financial liabilities (Note 8.4): at the beginning of the year
Reservations: -
Net Cash Flow Generated 18,103 35,734
There is only one class of equity share of H 10/- each
Commensurate with operational growth, additional from Operating Activities CIL complies with the provisions of Presidential
fully paid. There has not been any change in the equity
procurement of goods and services has resulted into Net Cash Used in (4,486) (23,466) Directives on reservations for SC/ST/OBC/PWD/
share capital of the company. However through Offer
increase in the security deposits from the vendors by H 467 Investing Activities EWS as per circulars issued thereof.
for sale method of disinvestment, there has been
crore. Soaring balance payable for capital expenditure Net Cash Used in (13,899) (13,704)
change in the Government of India shareholding from c) Diversity Management: -
by H 1,714 crore is indication of group’s growing capital Financing Activities
66.13% to 63.13%.
expenditure on the infrastructure .Employee benefit Net Cash Flow (282) (1,436) CIL recruits its employees from across the
Other Equity (Note 7.2): payable is basically payable amount for the latest month Cash and Cash Equivalent 5,345 5,627 country through GATE score and all India based
of the year. As a result of implementation of National Coal as at the end of the year open examination and for Lateral Recruitment
The movement in retained earnings was on account of Wages Agreement (NCWA-XI) for the Non-Executives
through Interview wherein reservation policy is
profit earned during the year and payment of dividends. in June 2023, and annual increment effect, employee The group earned H 18,103 crore from operating activity
strictly complied.
During the year, Coal India has paid H 2,465 crore final benefits payable increased by H 982 Crore. During the after payment of income taxes. Realisation of the bank
dividend for the FY 2022-23 and Interim dividend of year, H 513 crore payable to Ministry of Coal recognized deposits, mutual fund and interest income were H 12,611 Manpower of CIL constitutes 19.30 % of SC, 14.34 %
H 12,633 crore. During the year MCL, NCL and CCL have in South Eastern Coalfields Limited, in respect of profit crore under investing activity. Above cash flow earned of ST and 25.23 % of OBC as on 01.01.2024.
issued bonus shares of H 3,495 crore utilising capital accrued on Gare Pelma mines for which Coal India Ltd. was amount has been used towards the purchase of property,
redemption reserve H 96 crore and remaining amount of appointed as custodian akin to a designated custodian. plant, and, equipment and expenses towards exploration Female employees of CIL constitutes 8.48 % of its
H 3,399 crore out of general reserve. and evaluation assets were H 16,821 crore. H 347 crore total manpower.
Other current and non-current liabilities (Note was invested in the Joint Venture – Hindustan Urvarak &
Borrowings (Note 8.1): 10.1 to Note 10.2): Rasayan Limited. H 15098 crore was paid as dividends to d) Non-Discrimination: -
the shareholders of the company. Thus with the proceeds
The borrowings appearing in the books of the group There has been increase of H 1,222 crore in the government No discrimination on the ground of religion, caste,
from non-current borrowings of H 1501 crore, the opening
are mainly on account of borrowings H 4,959 crore grants received for various public infrastructure capital region, creed, gender, languages etc. is done in CIL
balance of cash and cash equivalent of H 5627 crore has
made by Chhattisgarh East Railway Limited (CERL) and projects works at Bharat Coking Coal Limited, Central & its Subsidiaries.
reached to H 5345 crore i.e. net cash outflow of H 282 crore.
Chhattisgarh East-West Railway Limited (CEWRL), which Coalfields Limited and Mahanadi Coalfields Limited.
e) Special Benefits to Persons with Disabilities
are subsidiary companies of SECL and H 478 crore by Shifting and Rehabilitation work are undertaken for fire
Jharkhand Central Railway Limited (JCRL), a subsidiary and stabilization of unstable areas of Eastern Coal Fields 8.0 MATERIAL DEVELOPMENT IN HUMAN CIL has an Equal Opportunities Policy and special
of CCL. Long term loan from Export Development Limited and Bharat Coking Coal Limited under direction RESOURCES/INDUSTRIAL RELATIONS FRONT, provisions in Transfer Policy, TA/DA Rules, Housing
Corporation, Canada H158 crore and Bank overdraft of the Ministry of Coal. During the year there has been INCLUDING NUMBER OF PEOPLE EMPLOYED. Policy, Promotion Policy and Leave Rules for safe
H663 crore against fixed deposits is related to Eastern utilisation of fund with corresponding reduction in the Report on the above point is given below: - guarding the interests of Persons with Disabilities,
Coalfields Limited (ECL). liability for the works by H 435 crore net of interest credit and also for pro-active actions to facilitate the
and contributions dues from subsidiary companies. I. Manpower: - inclusion and participation of Persons with
Trade Payables (Note 8.3): Growth in the offtake has resulted into increase in the The manpower strength of the company as on 1.04.2024 Disabilities in work and other activities.
statutory dues payable by H 1,020 crore. against the previous year was as under: -
With growing procurement and transactions with MSME
f) Prevention of Sexual Harassment at workplace: -
parties, trade payable balance from them has shown rise Provisions (Note 9.1): Year Executive Non-Executive Total
by H 103 crore. This is also a mark of group’s continuous Sexual harassment of any form is handled strictly at
endeavor to promote the micro, small & medium The main factor of reduction in provision has been 01.04.2023 16,305 2,22,905 2,39,210
CIL and its subsidiaries. The statutory provisions with
enterprises (MSME). There has been decline of H 267 crore implementation of NCWA-XI during the year. The arrear 01.04.2024 15,777 2,13,084 2,28,861
respect to the same are adhered to. It is treated as
in the outstanding dues of creditors other than MSME. payment for the period effective from July 2021 till May The manpower strength has come down by 10,349 a misconduct for Executive Cadre employees as per
during 2023-24 the Conduct, Discipline and Appeal Rules as well
328 329
as for Non-Executive Cadre employees as per the 5. Life Cover Scheme: - An amount HUMAN RESOURCE DEVELOPMENT subsidiaries, out of which 30,270 attendees belonged to
Corporate Overview
Certified Standing Orders. upto H1,56,250/- is paid under the executive workforce and 73,550 attendees belonged to non-
Human Resource Development is considered as a strategic
Life Cover Scheme executive workforce, which is 45.36% of the total manpower.
g) Freedom of Associations: - activity of the company with a long-term vision to develop the
Employees are provided multiple trainings as per their
6. Ex-Gratia: - An Ex-gratia compensation existing workforce so that they gain the capability to cope up
training needs.
Employees are free to be a part of any registered Trade of H 15 lakhs in case of fatal mine with the challenges emerging out of technological advances,
Union / Employees’ Association. Representation accident is paid to the next of kin of the talent depletion, and growing demand of coal along with Training
of employees is allowed in the bipartite bodies deceased employee. diversification of business into allied and non-allied areas.
through Trade Unions / Associations. In-house Training
An additional amount of H 90,000 as Overall Performance During 2023-24 different training programs were organized
h) Post-Retirement Medical Support: - ex-gratia, in addition to Employee’s at subsidiary headquarters, training centres, vocational
During the FY 23-24, 6,47,533 training man-days were
Compensation Act, 1923, is paid to the achieved for the employees including executives and non- training centre (VTCs) and also at CIL’s own in-house training
Contributory Post Retirement Medicare Schemes
Statutory Reports
eligible dependents, in case of death executives (excluding contract workers). facility Indian Institute of Coal Management Ranchi (IICM).
for Executives and Non-Executive Cadre employees
or permanent total disablement of the These training programs were organized after accessing the
of CIL/Subsidiaries have been formulated. Medical
Non-Executive Cadre employees of In Financial year 2023-24 a total of 1,03,820 employees/ training needs in the respective category of employees within
coverage extended to the employees is given below:
CIL/Subsidiaries. attendees have undergone various trainings in CIL and its the subsidiary.
Benefit under 7. Employment / Monthly monetary

Retired Non-
Contributory Retired compensation in lieu of employment: -
Executive, Spouse Details of In-house training program are as below:
Post Executives
& Divyang
Retirement & Spouse There is provision of employment to
Children 1. Cadre-wise
Medicare (Coverage) one dependent of the worker who dies
(Coverage)
while in service.
Schemes Long Training Short Training* Workshop/Seminar Total
Normal H 25 Lakh H 8 Lakh for Retd. Female dependents of the employees Executive 3953 18567 2982 25502
Diseases Employee & dying while in service are provided the Non-executive 44480 26441 1957 72878
Spouse Monthly Monetary Compensation, in lieu Total 48433 45008 4939 98380
H 2.5 Lakh for of employment, till attainment of 60 years
Divyang Child of age or death whichever is earlier. 2. Gender-Wise:-
Specified At CGHS rates without ceiling
Critical Diseases 8. Defined Contribution Superannuation Long Training Short Training* Workshop/Seminar Total
Pension Scheme (DCSPS): - CIL has
Male 46061 41583 4277 91921
i) Social Security: - formulated a DCSPS for executives as per
Female 2372 3425 662 6459
DPE guidelines covering Board level and
All employees of CIL and its subsidiaries / Total 48433 45008 4939 98380
below Board Level Executives to provide
contractors’ workers are covered under the social
superannuation benefit in the form of
security schemes as given below: -
annuity through an Annuity Service Training Outside Company (Within the country)
(A) For employees of CIL and its subsidiaries: Provider, post retirement.
In addition to in-house training, employees were trained at reputed training institutes within the country, in their respective field of
1. Compensation under the Employee’s (B) For contractors’ workers engaged in CIL and operations for supplementing our in-house training efforts. The break-up is as below:
compensation Act, 1923 its subsidiaries by contractors.
1. Cadre-Wise:
2. Gratuity: Upto 20 Lakhs as per Payment of 1. An Exgratia amount of H 15 lakhs is paid to
Gratuity (Amendment) Act, 2018 the next of kin of the contractors’ worker Long Training Short Training* Workshop/seminar Total
in case of fatal mine accident.
Executive 1266 2862 640 4768
3. Coal Mines Provident Fund (CMPF): Non-executive 397 266 9 672
- All employees of CIL/Subsidiaries 2. Compensation under the Employee’s
Total 1663 3128 649 5440
are covered under the Coal Mines compensation Act, 1923
Provident Fund scheme with equal share
3. Medical facility to the contractor workers in 2. Gender-Wise:-
of contribution from both (i.e. from
the Company Hospitals and dispensaries.
employees and the employer).
Long Training Short Training* Workshop/Seminar Total
4. Nominee of deceased contractors’
4. Coal Mines Pension Scheme (CMPS): - All Male 1536 2673 564 4773
workers are eligible for payment of
employees are covered under the Coal Female 127 455 85 667
accumulated amount under EPF/CMPF.
Mines Pension Scheme by which, on Total 1663 3128 649 5440
superannuation, they receive upto 25% of
* Less than 5 days
their total emoluments as monthly pension.
330 331
Training Abroad g. Training on "Hospital Management & Administration" Talent Acquisition: Eco Parks have been developed in many of the mined
Corporate Overview
86 Executives attended workshops/Conferences/training/ from 04th to 30th December, 2023 at Indian out areas and command areas of CIL like Kalidaspur
In the financial year 2023-24, CIL has expanded its
visits outside the country in this FY Institute of Public Health Gandhinagar (IIPHG) for 30 Bio-diversity Park ECL, Parasnath Udyaan AKWMC
wingspan of Executive cadre by recruiting 154 new
medical executives. Colliery BCCL, Bishrampur Tourism Site SECL, Chander
members, including 67 Management Trainees and
Engagement of Apprentices: Shekhar Azad Eco Park Bina NCL, Neem Vatika Raiyatwari
h. Safety Training and Certification Program/ courses 87 Medical Executives, through Open Recruitment.
Chandrapur WCL, Kayakalp Vatika CCL, Ananta Medicinal
During the year 2023-24, in CIL and subsidiaries a total of 7,623 for Executives of CIL through Talisman Technical Pty. Additionally, towards career progression of employees,
garden MCL, etc. CIL has established 32 Eco-parks &
Apprentices were engaged through NATS and NAPS portals. Ltd (40 participants) the company internally promoted / appointed 503
Mine Tourism & eco-restoration sites on date.
Non-Executive employees to the Executive cadre. This
Special Initiatives: 5. Future-Focused & compliance-related Training dual strategy fortifies our Executive team for succession Effluent treatment facilities for mine, workshop & CHP
1. Policy reforms: Programs organised at CIL (HQ), Kolkata: planning and production targets, exemplifying our effluents like oil & grease traps, sedimentation ponds
commitment to a dynamic and skilled leadership team and facilities for storage of treated water and its reuse
a. Review of existing Talent Management Policy with a. Financial Modeling Training Program for
Statutory Reports
for sustained success. have been provided in all the major projects. Domestic
consultancy support from M/s Deloitte Touche Executives of CIL HQ
sewage treatment plants have also been established for
Tohmatsu India LLP. Recommendations for changes These new recruits are undergoing a comprehensive
b. Training Program on "Stress Management & Work treatments of domestic effluents. Recharging of ground
in Talent Management Policy are being reviewed. development program, blending off-the-job and on-
Life Balance at CIL HQ water is also taken up within mine premises as well as in
the-job training interventions. Guided and mentored the nearby villages through rainwater harvesting, digging
2. Signing up of MoU:
c. Workshop on Emerging Trends & Best Practices in HR by experienced senior executives within the company, of ponds/development of lagoons and by de-silting of
a. One-year PGPEx on Logistics & Operations this process is designed to prepare them for assuming existing ponds/tanks etc. In 2023-24, discharged mine
Excellence through Digitalization jointly organised d. Workshop on Gender Sensitization and POSH Act. roles as responsible senior executives in the future. water was utilized in 857 no. of villages for irrigation and
by IIM Mumbai & IIM Sambalpur By facilitating their easy adaptation to the next level of
6. Flagships Programs Organized for Senior Level domestic use, benefitting more than 11.62 Lakh villagers.
the organization, with an inclusive culture for seamless
b. 2 weeks’ “General Management Program” at Executives of CIL by IICM:
transition, it would aim for long-term success for both the Technological Conservation, Renewable Energy
IIM Lucknow for Middle level executives across
a. MANTHAN & MANTHAN 2.0: A journey of building individuals and the company. Developments, Foreign Exchange Conservation- details
all disciplines.
a sustainable competitive edge for Coal India - are given in Directors Report
3. Training outside country: Designed for the new directors of CIL, the workshops
9.0 ENVIRONMENTAL PROTECTION AND
focused on building a sustainable and competitive
a. Advanced Global Techno-Management Program CONSERVATION 10. CORPORATE SOCIAL RESPONSIBILITY
edge for the company. Conducted a two-day
2023 at ASCI Hyderabad in collaboration with ESCP workshop, “MANTHAN 2.0", in collaboration with Budget allocated in Annual Action Plan for CSR activities
Business School, France and University of Maribor, Environmental protection measures are taken concurrently during FY 23-24 by Coal India Ltd., Kolkata was H 140.62
MCL at Bhubaneswar on August 07-08, 2023.
Slovenia (For international component)- For 9 with mining operations for maintaining acceptable levels crores, much more than the amount calculated as per
23 Directors in Manthan 2.0 participated in this
General Manager (Mining). of major physical attributes of environment namely air & the minimum statutory provisions i.e. H 11.30 Crore
workshop, equipping them to excel in their roles and
water quality, hydrogeology, noise level & land resources. CIL was able to utilize H 98.56 Crore for CSR during the
contribute effectively to the organization's success.
4. Key training programs organised for employees Suitable water spraying systems for arresting fugitive dust financial year, more than the statutory obligation as per
across CIL and its subsidiaries: b. DISHA: A Way Ahead: Tailored for newly promoted in roads, washeries, First Mile Connectivity (FMC) Projects, Companies Act 2013.
a. IPV6 Skill Training program for 30 E&T executives by General Managers, this leadership program aims CHPs, Feeder Breakers, Crushers, coal transfer points and
E&Y in June 2023 to mentor and prepare them for their upcoming coal stock areas have been installed. Further, Sustainable As per DPE’s guidelines, the priority theme during the
roles & responsibilities. Disha 1, Disha 2 and Disha development activities like alternative use of OB, creation year was kept as ‘Healthcare and Nutrition’ in which 66%
b. Principles of Eco-Responsive Architecture 3 were organized from September 18-20, 2023 of amrit sarovar, activities under Mission Life-style, Energy of the total expenditure was made. Other themes which
towards Energy Efficient Buildings for 15 General and September 25-27, 2023 and Feb. 09-11, 2024 efficiency measures etc. are being undertaken. were given due focus during the year were Education &
Manager (Civil) of CIL/ Subsidiaries at HIAL, respectively. Total 88 General Managers were Livelihood and Environmental Sustainability. Many high-
Ladakh in June 2023. trained during two programs. Massive tree plantation is being carried out in and around investment, high-impact CSR projects were continued
mining areas and modern mining techniques are being during the year such as the Thalassemia Bal Sewa Yojana
c. Training program on "E-vigilance, Cyber Awareness c. LAKSHYA: A personal Journey for Leadership & practiced in the mines of CIL to reduce air and noise (TBSY) which crossed the milestone of 500 Bone Marrow
and tools for Leveraging Technology for Preventive Transformation: This initiative is geared towards pollution. In last 5 year CIL has planted more than 121.13 Transplants during the year, construction of sports hostels
Vigilance" for 25 executives from 25th to 27th May, preparing potential candidates for interviews Lakh saplings over more than 5076.56 Ha inside mine through Dept. of Sports, Govt. of India and different
2023 at International Management Institute (IMI), for board-level positions within CIL. LAKSHYA lease area and at the same period CIL planted 12.28 Lakh employment oriented skill development programmes for
Kolkata campus. 2.0 was organised from Nov 16-18, 2022 (nos. of saplings over more than 1848 Ha outside mine lease area. unemployed youth.
Participants -24) The carbon sink potential created in last 5 years inside
d. Training Program on "Investigation into Accidents/
CIL and CCL jointly organized a ‘CSR and Sustainability
Incidents in Mines based on Root Cause Analysis mine lease area is about 2.54 Lakh Tonne/year.
d. Jigyasa: A march towards Future:- An Online session Conclave named Re-engineering CSR’ on 25th and 26th
Techniques" at IIT (ISM), Dhanbad. (2 Batches with of 90 minutes’ duration for all the Directors of CIL & April 2023 at Ranchi where six thought leaders/domain
44 Participants) CIL planted 44.40 Lakh saplings covering an area about
Subsidiaries of CIL to sensitize and share upcoming experts shared their thoughts with 300+ participants
2167.61 Ha within and outside mine leasehold area in FY
trends and development globally in emerging which included executives engaged in CSR, students
e. Training Program on "Implementation of Solar 2023-24, CIL also carried out grassing over 248.65 Ha
topics aligned with strategic priorities. from local academic institutes, implementing agencies
Project" at National Power Training Institute (NPTI), during this period.
Badarpur in November 2023 (20 participants) and management of CIL & subsidiaries.
e. Outbound trainings:- 125 employees participated
in outbound training program organised in
f. Management Development Program on
collaboration with TSAF at places like Manali,
"Analysis of Financial Management at AJNIFM
Ladakh, Mussorie, Jim Corbett.
Faridabad, Haryana
332 333
CIL’s unwavering commitment towards the development of the society got recognized globally through the ‘Green World’
Annexure A
Corporate Overview
awards. CIL won Gold in CSR category in the ‘Fuel, Power and Energy’ sector at the ceremony organized on 25th March
2024 in Brazil.
CSR budget vs expenditure for FY 23-24 for CIL (HQ) S&T projects of Ministry of Coal during 2023-24
S.
Item Amount (J Crores)
No. Sl.
Title of the Project Implementing Agency Remarks
1 CSR budget as per minimum statutory provisions 11.30 No
2 CSR budget as per CIL's CSR policy 140.62 1. Development and Field Trial of 500 T Capacity IIT-ISM, Dhanbad, SECL, Bilaspur, M/s Andhra On-going
3 Expenditure incurred 98.56 SAGES-III for Use with Continuous Miners (Phase-III) Pradesh Heavy Machinery & Engineering Limited
[Project code: MT-171] (APHMEL), Vijayawada and M/s Jaya Bharat
Equipment Pvt. Ltd. (JBEPL), Hyderabad
Statutory Reports
Theme wise Expenditure during FY 23-24 by CIL (HQ)
2. Establishment of Geo-thermal energy (20KW Cap) Singareni Collieries Company Ltd, Kothagudem On-going
S. As a % of Total CSR
Expenditure in power generation Pilot Project at Manuguru area of and Shiram Institute for Industrial Research, New
Thematic Area Expenditure in
No. F.Y. 2023-24 (J Crores) SCCL Command area based on closed loop Binary Delhi
F.Y. 2023-24
Organic Rankine Cycle Process technology [Project
1 Healthcare, Nutrition & Sanitation 65.20 66%
code: CE-33]
2 Education & Livelihood 25.67 26%
3. Utilization of low grade coal for production of high Indian Institute of Technology (BHU), Varanasi, On-going
3 Rural Development 4.63 5%
quality graphene and carbon nano-particles for Indian Institute of Petroleum and Energy,
4 Other themes, Administrative expenditure and Impact assessment 3.06 3%
energy storage [Project code: CU-59] Visakhapatnam, Central Coalfields Ltd., Ranchi
Total 98.56 100%
4. Ultrasonic Washing for Desulphurization of Coal Indian Institute of Technology Guwahati (IITG), On-going
[Project code: CP-51] Guwahati, Avinashilingam Institute for Home
Science and Higher Education for Women
Major Projects for which CSR fund was utilized in b) Item – II of Schedule VII – Education & Livelihood
(AIHSHEW), Coimbatore, Tamil Nadu, Kuvempu
FY 23-24 by CIL (HQ) a. H 10.77 Crore were utilized towards University, Jnanasahyadri, Shankaragatta, Tumkur
a) Item – I of Schedule VII – Healthcare, Sanitation & construction of classrooms in govt. schools of University, Venkatesh Rao Colony, Tumakuru and
Nutrition Dharwad district in Karnataka NEC, Margherita
a. H 14.39 Crore were utilized for providing MRI 5. Prevention of premature failures and enhancing life Centre for Applied Research & Development, On-going
b. H 2.50 Crore were utilized for reconstruction
machine for neurology patients at Institute of of bottom rollers used in bucket wheel excavators. NLCIL, Neyveli, NIT, Trichy and IISc, Bengaluru
of flood affected govt. school buildings in
Neurosciences, Kolkata [Project code: MT-175]
Bagalkot district of Karnataka
6. Study on Optimal Strategy for Phasing Down Coal School of International Studies (SIS), Jawaharlal On-going
b. H 3.71 Crore were utilized in construction c. H 2.00 Crore were utilized towards ‘DigiVidya’ Uses in India [Project code: MT-176] Nehru University (JNU), New Delhi
of prefabricated toilets at railway station in project for providing smart classroom & ICT
command areas of ECL labs in 11 coal mining districts of Jharkhand 7. Electrostatic deposition and functionalization Amity Institute for Advanced Research & Studies On-going
c. H 43.96 Crore were utilized for construction of multiwalled carbon nanotubes (MWCNTs) (Materials & Devices), Noida
d. H 1.95 Crore were utilized towards setting for sensitive & selective detection of Coal Mine
of hostel for women sportspersons at Sports up infrastructure of School of Experiential
Authority of India Netaji Subhas Southern Methane (CMM) [Project code: MT-177]
Learning at Ladakh 8. Utilization of Coal Gangue to Develop Porous Indian Institute of Technology, Kanpur & BCCL, On-going
Centre, Bengaluru and a 400 bedded hostel
for sportspersons at Lakshmibai National Adsorbents for CO2 Capture [Project code: CU-60] Dhanbad
e. H 1.62 Crore were utilized towards training of
Institute of Physical Education (LNIPE) at 9. Use of Micro-seismicity as a tool for underground Indian Institute of Technology, Kharagpur, CMPDI, On-going
450 youth in different trades at Jharsuguda
Gwalior, Madhya Pradesh mines hazard monitoring with the motive to enhance Ranchi & ECL, Sanctoria
districts of Odisha
safety and production [Project code: MT-178]
d. H 5.00 Crore were utilized for construction of f. H 1.19 Crore were utilized towards construction 10. Biomethanization of coal [Project Code- CE-36] Institute of Science, BHU, Varanasi On-going
girls’ hostel at Indian Institute of Technology, of Natural Fibre diversified product training 11. Reservoir characterization and numerical modelling Indian Institute of Technology, Bombay and On-going
Bombay (IITB) to provide hygienic and safe and development centre for women at of coal reservoir for enhanced coalbed methane CMPDI, Ranchi
accommodation to girl students Murshidabad, West Bengal recovery and prospects for carbon sequestration
[Project Code- CE-35]
e. H 3.68 Crore were utilized for installation of g. H 1.13 Crore were utilized towards construction 12. Assessing the Abiotic and Biotic Factors in Pit BIT, Mesra, CMPDI, Ranchi, CCL, Ranchi, and MCL, On-going
cath lab and related furniture at Nagarmal of Service Building of Ramakrishna Mission Lakes for Sustainable Management of Water and Sambalpur
Modi Seva Sadan Hospital, Ranchi Centre for Human Excellence and Social Environment [Project Code- EE-52]
Sciences 'Vivek Tirtha' at New Town, Kolkata 13. Indigenous Development of NIR spectroscope Shri Ramdeobaba College of Engineering & On-going
f. H 10.61 Crore were utilized towards 3rd phase
for instant prediction of Coal Quality Parameters Management (RCOEM), Nagpur, CIMFR, Nagpur
of Thalassemia Bal Sewa Yojana c) Item – IV of Schedule VII – Environmental
[Project Code- CP-52] and SCCL, Kothagudem
Sustainability
g. H 1.22 Crore were utilized towards construction 14. Recycling Coal Mine Overburden To Reuse As Jawaharlal Nehru Aluminum Research On-going
of 40 bedded ICU at 3rd floor of trauma centre a. H 1.56 Crore were utilized for establishment A Value Added Building Material To Promote A Development and Design Centre (JNARDDC),
building of Silchar Medical College in Assam of Sewage Treatment Plant (STP) at Circular Economy [Project Code- EE-53] Nagpur, BIT, Mesra, Visvesvaraya National Institute
Mayapur, West Bengal of Technology Nagpur (VNIT), Nagpur, and
CMPDI, Ranchi
334 335
Sl. Sl.
Corporate Overview
Title of the Project Implementing Agency Remarks Title of the Project Implementing Agency Remarks
No No
15. Setting up a 5G Use Case Test lab in CMPDI for Coal Telecommunications Consultants India Limited On-going 5. Scaling up the conversion of CO2 to methanol and Jawaharlal Nehru Centre for Advanced Scientific On-going
Industry [Project Code- MT-179] (TCIL), New Delhi, CMPDI, Ranchi, and IIIT, Ranchi other value-added chemicals with 500 Kg CO2/day Research (JNCASR), Jakkur, Bangalore; Singareni
16. Development of Synthetic Lightweight Aggregates IIT (ISM), Dhanbad On-going capacity. [Project code :CIL/R&D/04/14/2021] Collieries Company Limited (SCCL) Kothagundem;
as Backfilling Material using Hydraulic Stowing And BREATHE Applied Sciences Pvt Ltd, Bangalore
Method [Project Code- MT-180]
17. Design and development of an AI-enabled Dust Central Mechanical Engineering Research On-going 6. Indigenous Development of Monolithic Perovskite IIT Bombay; CIL, Kolkata & Mine Electronics On-going
Suppression System for Opencast Mines [Project Institute (CMERI), Durgapur, Centre for Module Manufacturing by Printing. [Project code: Division, CMPDI
Code- MT-181] Development of Advanced Computing (C-DAC), CIL/R&D/04/15/2021]
Thiruvananthapuram, Unyrshapa Corporation 7. Up gradation of high ash Indian coal through IIT-Kharagpur; CMPDI; BCCL; CCL and MCL On-going
Statutory Reports
Lord Tech. (UCLT), Ranchi, and ECL, Sanctoria physical and chemical beneficiation. [Project code:
18. Development of hard carbons and ultrahigh specific CMERI, Durgapur, Centre for Advanced Studies On-going CIL/R&D/02/12/2021]
surface area porous activated carbon from coal for in Electronics Science and Technology (CASEST), 8. Design and development of knee and spinal smart IIT-ISM, Dhanbad and BCCL On-going
energy storage applications [Project Code- CU-61] School of Physics, University of Hyderabad, protective devices for improving the health and safety
Hyderabad and SCCL, Kothagudem of miners. [Project code: CIL/R&D/01/76/2021]
19. Development of Indigenous technology for Indian Institute of Technology, Guwahati, Panjab On-going 9. Development of guidelines for delineation of water IIT-ISM, Dhanbad and CCL On-going
extraction of critical minerals including rare earth University, Chandigarh and NEC, Margherita stressed area and designing of environmental
elements from overlying strata of Northeastern friendly water storage structure for meeting the
coalfields [Project Code- CP-53] water needs in mining areas. [Project code: CIL/
20. Coal Mine Overburden Alkali-activated Composites VNIT, Nagpur, JNARDDC, Nagpur, RI-IV, CMPDI, On-going R&D/04/16/2022]
(CMOAAC) for Pre-Fabricated 3D Volumetric Nagpur, and IIT (BHU), Varanasi 10. Real-time energy efficient cyber-physical intelligent IIT-ISM, Dhanbad and BCCL On-going
Construction Elements & System thereof (3DVCES) system for mine slope health monitoring. [Project
[Project Code- MT-182] code: CIL/R&D/01/77/2022]
21. Design and Development of a Model Cargo- IIT, Kanpur On-going 11. Separation and recovery of fine particles from coal IIT-ISM, Dhanbad and BCCL, Dhanbad On-going
Hyperloop using Pipe Following Robot [Project washery effluents using bio-coagulant. [Project
Code- MT-183] code: CIL/R&D/02/13/2022]
22. Development of an Indigenous Ground Vibration CMPDI, Ranchi, IIT, Kharagpur, SCCL, Kothagudem On-going 12. Highwall Mining Feasibility Assessment and Layout Underground Mining Division (UMD), CMPDI (HQ), On-going
Monitoring and Analysis System using IoT Enabled and NCL, Singrauli Design. [Project Code: CIL/R&D/01/78/2022] Ranchi; Commonwealth Scientific and Industrial
Devices and AI-ML Techniques [Project Code- MT- Research Organisation (CISRO), Australia and CIL
184] (HQ), Kolkata
13. Design and development of an integrated system CIMFR, Dhanbad & Aryan IT Solutions(AITS), On-going
for monitoring and control of man and machine, to Dhanbad and CCL, Ranchi
CIL R&D Projects during 2023-24 enhance safety and security in mines. [Project code:
CIL/ R&D/01/52/2012]
Sl. 14. Development of tandem approach for Paste ECL, Sanctoria and CIMFR, Dhanbad On-going
Title of the Project Implementing Agency Remarks
No Fill Technology and extraction methodology by
1. Development of guidelines for prevention & CIMFR, Dhanbad, IIT-ISM, Dhanbad, S&R Division, On-going continuous miner (CM) deployment for Shyampur
mitigation of explosion hazards by risk assessment CIL (HQ), Kolkata and SIMTARS, Australia B Colliery of Mugma Area, ECL[Project code:
and determination of explosibility of Indian CIL/R&D/04/18/2022]
Coal Incorporating risk based mine emergency 15. Assessment of safe parting thickness and optimal IIT (BHU), Varanasi, ECL, Sanctoria, CCL, Ranchi, On-going
evacuation & re-entry protocol. [Project code: goaf edge support requirement for extraction and SECL, Bilaspur
CIL/R&D/1/60/2016] of pillars under soft cover. [Project Code: CIL/
2. Development of Virtual Reality Mine Simulator IIT-ISM, Dhanbad, UMD, CMPDI, Ranchi, BCCL , On-going R&D/01/79/2022]
(VRMS) for improving safety and productivity in Coal NCL and UQ SMI- JK Tech Pty. Ltd., Australia
mines [Project code: CIL/R&D/1/67/2017] 16. Bi-facial Perovskite Module - Leading to 4-T IIT, Bombay On-going
3. Forensic investigation related to Geo-technical Civil Engineering Division, CMPDI(HQ), Ranchi On-going Perovskite-Si Tandem Structure [Project Code:
aspects in order to stabilize the foundation soil of and RI-IV, CMPDI, Nagpur; VNIT, Nagpur and CIL/R&D/04/19/2023]
expansive nature and implement suitable ground WCL, Nagpur 17. 5G Captive non-public network for integrated voice, CDAC, Thiruvananthapuram and CMPDI, Ranchi On-going
improvement technology to sustain and enhance video & data communication in opencast coal
the optimum overburden dump height. [Project mines. [Project Code: CIL/R&D/05/03/2024]
code: CIL/R&D/04/11/2021] 18. A Pilot Project on Underground Coal Gasification CMPDI (HQ), Ranchi, ECL, Sanctoria and M/s Ergo On-going
4. Prediction of particulate matter and gaseous BIT, Mesra; Environment Division, CMPDI and NCL On-going (UCG) to establish technology in Indian geo- Exergy Technologies Inc (EETI), Canada
pollutants concentration through Artificial Neural mining conditions (Phase-I). [Project Code:
Network [ANN], Probabilistic Neural Network CIL/R&D/04/20/2023]
[PNN] and Classification and Regression Tree
[CART] models and comparison with CALPUF and
AERMOD in Singrauli coal mines. [Project code:
CIL/R&D/05/02/2021]
336 337
STANDALONE
FINANCIAL STATEMENTS
BALANCE SHEET - STANDALONE STATEMENT OF PROFIT AND LOSS -STANDALONE
Corporate Overview
(H in Crore) (H in Crore)
Note As at As at Note For the Year Ended For the Year Ended
Particulars Particulars
No. March 31, 2024 March 31, 2023 No. 31-03-2024 31-03-2023
ASSETS I Revenue from Operations (Net of levies)

(1) Non-Current Assets
A. Sales 12.1 114.00 659.27
(a) Property, Plant and Equipment 3.1 534.98 440.98
(b) Capital work in progress 3.2 142.39 108.73 B. Other Operating Revenue 12.1 1402.38 1291.24
(c) Exploration and Evaluation Assets 3.3 - - Revenue from Operations (Net of levies) (A+B) 1516.38 1950.51
(d) Intangible Assets 3.4 93.90 112.76
(e) Intangible Assets under Development 3.5 - - II Other Income 12.2 15332.38 14552.63
(f) Financial Assets (i) Investments 4.1 14170.94 III Total income (I+II) 16,848.76 16,503.14
Statutory Reports
13,824.44
(ii) Loans 4.2 0.02 0.02 IV Expenses
(iii) Other Financial Assets 4.6 5082.34 5,434.46
(g) Other Non-Current Assets 6.1 47.14 42.80 Cost of Materials Consumed 13.1 4.23 4.87
Total Non-Current Assets (A) 20,071.71 19,964.19 Purchase of Stock-in-Trade 13.1(a) - 469.74
(2) Current Assets
Changes in inventories of finished goods, Stock-in-Trade 13.2 (17.34) (7.32)
(a) Inventories 5.1 37.66 20.55
and work-in-progress
(b) Financial Assets (i) Investments 4.1 35.29 38.23
(ii) Trade Receivables 4.3 - 3.57 Employee Benefits Expense 13.3 400.01 421.97
(iii) Cash and Cash equivalents 4.4 43.25 167.09 Finance Costs 13.4 2.03 1.92
(iv) Other Bank Balances 4.5 1,433.45 1,007.80
Depreciation, Amortization and Impairment Expenses 13.5 43.33 42.94
(v) Other Financial Assets 4.6 1,180.52 972.70
(c) Current Tax Assets (Net) 11.1 744.14 861.50 Contractual Expense 13.6 61.15 47.29
(d) Other Current Assets 6.2 498.41 395.05 Other Expenses 13.7 313.23 428.22
Total Current Assets (B) 3,972.72 3,466.49
Total expenses (IV) 806.64 1,409.63
Total Assets (A+B) 24,044.43 23,430.68
EQUITY AND LIABILITIES V Profit before Tax (III-IV) 16,042.12 15,093.51
Equity VI Tax Expense 14.1
Equity Share Capital 7.1 6,162.73 6,162.73
(1) Current tax 267.04 285.78
Other Equity 7.2 11,163.00 10,543.72
Total Equity (A) 17,325.73 16,706.45 (2) Deferred tax 8.25 5.42
Liabilities Total Tax expenses 275.29 291.20
(1) Non-Current Liabilities
(a) Financial Liabilities VII Profit for the year (V-VI) 15,766.83 14,802.31
(i) Other Financial Liabilities 8.3 41.80 41.42 VIII Other Comprehensive Income
(b) Provisions 9.1 228.34 197.21
(i) Items that will not be reclassified to profit or loss 15.1 (65.25) (167.60)
(c) Deferred Tax Liabilities 11.2 38.19 29.94
(d) Other Non-Current Liabilities 10.1 5,887.21 5,772.86 (ii) Income tax relating to items that will not be reclassified to profit or loss 16.42 42.18
Total Non-Current Liabilities (B) 6,195.54 6,041.43 Total Other Comprehensive Income (48.83) (125.42)
(2) Current Liabilities
IX Total Comprehensive Income (VII+VIII) (Comprising Profit and Other 15,718.00 14,676.89
Comprehensive Income for the year)
(i) Borrowings 8.1 - -
(ia) Trade Payables 8.2 X Earnings per equity share (Face Value J 10 each) *
(A) Total outstanding dues of micro, small and mediumenterprises; and 1.07 0.29 (1) Basic 25.58 24.02
(B) Total outstanding dues of Creditors other than micro, small and medium 76.93 64.91
enterprises (2) Diluted 25.58 24.02
(ii) Other Financial Liabilities 8.3 204.30 273.12 * Refer note 16 (6) (b) for calculation of EPS
(b) Other Current Liabilities 10.2 151.48 189.76
(c) Provisions 9.1 89.38 154.72 The Accompanying Note No. 1 to 16 form an integral part of the Standalone Financial Statements.
Total Current Liabilities (C) 523.16 682.80
As per our report annexed
Total Liabilities (D) 6,718.70 6,724.23
For Lodha & Co LLP On behalf of the Board of Directors
Total Equity And Liabilities (A+D) 24,044.43 23,430.68
Chartered Accountants
Firm Registration No. 301051E/E300284
The Accompanying Note No. 1 to 16 form an integral part of the Standalone Financial Statements.
As per our report annexed Sd/- Sd/- Sd/-

For Lodha & Co LLP On behalf of the Board of Directors (R. P. Singh) (P M Prasad) (Mukesh Agrawal)
Chartered Accountants Partner Chairman-Cum-Managing Director & CEO Director (Finance) & CFO
Firm Registration No. 301051E/E300284 Membership No. 052438 DIN- 08073913 DIN- 10199741

Sd/- Sd/- Sd/-
(R. P. Singh) (P M Prasad) (Mukesh Agrawal) Sd/- Sd/-
Partner Chairman-Cum-Managing Director & CEO Director (Finance) & CFO Date : 02nd May, 2024 (Sunil Kumar Mehta) (B. P. Dubey)
Membership No. 052438 DIN- 08073913 DIN- 10199741 Place : Kolkata Executive Director (Finance) Company Secretary
Sd/- Sd/-
Date : 02nd May, 2024 (Sunil Kumar Mehta) (B. P. Dubey)
Place : Kolkata Executive Director (Finance) Company Secretary
340 341
STATEMENT OF CHANGES IN EQUITY STATEMENT OF CHANGES IN EQUITY
Corporate Overview
A. EQUITY SHARE CAPITAL B. OTHER EQUITY (Contd..)
(H in Crore)
As at 31-03-2024
(H in Crore) Reserves and Surplus
Changes in equity Remeasurement
Capital
Balance as at share capital Balance as at Particulars General Retained of Defined Total
Particulars Redemption
01-04-2023 during the current As at 31-03-2024 Reserve Earnings Benefits Plans
reserve
period (net of Tax) - (OCI)
6,16,27,28,327 Equity Shares of H10/- each 6162.73 - 6162.73 Balance as at 01-04-2022 1057.81 4276.95 4841.93 18.53 10195.22
Statutory Reports
Total Comprehensive Income for the year 14802.31 (125.42) 14676.89
As at 31-03-2023 Interim Dividend (12479.57) (12479.57)
(H in Crore)
Final Dividend (1848.82) (1848.82)
Changes in equity
Balance as at share capital Balance as at Transfer to/from General Reserve - 26.80 (26.80) -
Particulars
01-04-2022 during the current As at 31-03-2023 Balance as at 31-03-2023 1057.81 4303.75 5289.05 (106.89) 10543.72
period
6,16,27,28,327 Equity Shares of H10/- each 6,162.73 - 6,162.73

Refer Note 7.2 for dividend and the nature and purpose of Reserves and Surplus.
B. OTHER EQUITY
(H in Crore)
Reserves and Surplus The Accompanying Note No. 1 to 16 form an integral part of the Standalone Financial Statements.
Remeasurement
Capital As per our report annexed
Particulars General Retained of Defined Total
Redemption For Lodha & Co LLP On behalf of the Board of Directors
Reserve Earnings Benefits Plans
reserve Chartered Accountants
(net of Tax) - (OCI)
Balance as at 01-04-2023 1057.81 4303.75 5289.05 (106.89) 10543.72
Sd/- Sd/- Sd/-
Total Comprehensive Income for the year 15,766.83 (48.83) 15718.00 (R. P. Singh) (P M Prasad) (Mukesh Agrawal)
Interim Dividend (12,633.63) (12,633.63) Partner Chairman-Cum-Managing Director & CEO Director (Finance) & CFO
Membership No. 052438 DIN- 08073913 DIN- 10199741
Final Dividend (2465.09) (2465.09)

Transfer to/from General Reserve - 33.80 (33.80) -
Sd/- Sd/-
Balance as at 31-03-2024 1057.81 4337.55 5923.36 (155.72) 11163.00
342 343
STATEMENT OF CASH FLOW - STANDALONE STATEMENT OF CASH FLOW - STANDALONE
Corporate Overview
For the Year Ended For the Year Ended For the Year Ended For the Year Ended
31-03-2024 31-03-2023 31-03-2024 31-03-2023
Cash flows from operating activities Cash and Cash equivalent as at the end of the year (Refer Note 4.4) 43.25 167.09
Profit before tax 16042.12 15093.51 Components of Cash and Cash Equivalents
Adjustments for : Balance with Bank
Depreciation, amortisation and impairment expenses 43.33 42.94 - in Deposit Accounts - 142.50
Statutory Reports
Interest and other income from investment (106.56) (144.12) - in Current Accounts 37.39 13.76
Dividend income (15087.99) (14265.71) Others e-procurement account/GeM account/Imprest balances
5.86 10.83
Finance Costs 2.03 1.92 Total (Refer note 4.4 for components of Cash and Cash Equivalents) 43.25 167.09
(Profit)/Loss on sale of Property, Plant and Equipment 0.22 0.18
Liability and provision written back (16.32) (0.25)
Allowances and Provisions 0.53 1.43
1. The above Statement of cash flows is prepared in accordance with the indirect method prescribed in Ind AS 7 - ‘Statement
Cash flows from operating activities before changes in following assets and 877.36 729.90 of Cash Flows’.
liabilities
Adjustment for : 2. The Company has spent H 98.56 Crore (Refer note no. 13.7.1) on account of Corporate Social Responsibility (CSR) Expenditure
(1.21) during the year ended 31-03-2024 ( Previous Year H 128.93 Crores)
Trade Receivables 3.57
Inventories (17.10) (7.39) 3. There is no undrawn borrowing facilities that may be available for future operating activities and to settle capital commitments,
Loans and advances and other financial assets (178.16) 103.33 indicating any restrictions on the use of these facilities.
Other current and non current Assets (103.36) (57.29)
Trade Payables 12.80 (5.43)
The Accompanying Note No. 1 to 16 form an integral part of the Standalone Financial Statements.
Other financial liabilities (49.98) 130.83
Other current and non current liabilities 90.99 478.93
Provisions (101.49) (137.46)
Cash Generated from Operation 534.63 1234.21 Firm Registration No. 301051E/E300284
Income Tax (Paid) (133.26) (23.20)
Sd/- Sd/- Sd/-
Net Cash Flow generated from Operating Activities ( A ) 401.37 1,211.01
(R. P. Singh) (P M Prasad) (Mukesh Agrawal)
CASH FLOW FROM INVESTING ACTIVITIES Partner Chairman-Cum-Managing Director & CEO Director (Finance) & CFO
Payments for Property, Plant and Equipments and Intangible assets (174.78) (119.66) Membership No. 052438 DIN- 08073913 DIN- 10199741
Proceeds from Sale of Property Plant and Equipment 0.15 0.24
Realisation of deposits/(Deposits) with Banks (71.63) (1136.74)
Sd/- Sd/-
Proceeds from/(Investment in) Mutual Fund 8.10 222.55 Date : 02nd May, 2024 (Sunil Kumar Mehta) (B. P. Dubey)
Payment for investment in equity in Joint Venture (347.03) (666.54) Place : Kolkata Executive Director (Finance) Company Secretary
Interest received on Investment 69.84 87.27
Dividend received from investment in Subsidiaries 15087.99 14265.71
Net Cash generated from Investing Activities (B) 14572.64 12652.83
CASH FLOW FROM FINANCING ACTIVITIES
Dividend paid on Equity shares/transfer to Investor Education Protection Fund (15097.85) (14328.07)
Net Cash used in Financing Activities (C) (15097.85) (14328.07)
Net Decrease in Cash and Cash equivalent (A+B+C) (123.84) (464.23)
Cash and Cash equivalent as at the beginning of the year 167.09 631.32
344 345
NOTES TO THE FINANCIAL STATEMENTS (STANDALONE) NOTES TO THE FINANCIAL STATEMENTS (STANDALONE)
Corporate Overview
Note: 1 2023 notifying amendment to existing Ind AS. (a) it expects to realise the asset, or intends to sell or financing component as payment terms are less than one
These amendments to the extent relevant to the consume it, in its normal operating cycle; year as per the sales contracts.
A. Corporate Information
Company's operation include amendment to Ind
Coal India Limited (CIL) (the “Company”) is a Maharatna (b) it holds the asset primarily for the purpose The company has a number of long-term contracts to
AS 1 “Presentation of Financial Statements” which
Company domiciled in India and limited by shares. The of trading; supply products to customers in future periods. Generally,
requires the entities to disclose their material
shares of the Company are listed and traded on the accounting policies rather than their significant (c) it expects to realise the asset within twelve months revenue is recognized on an invoice basis, as each unit
National Stock Exchange of India Limited (NSE) and accounting policies, Ind AS 8 “Accounting Policies, after the reporting period; or sold is a separate performance obligation, and therefore
Bombay Stock Exchange India Limited (BSE) in India. Changes in Accounting Estimates and Errors” which the right to consideration from a customer corresponds
(d) the asset is cash or a cash equivalent (as defined in directly with our performance completed to date.
The address of the Company’s registered office is Coal has introduced a definition of ‘accounting estimates’
Statutory Reports
Ind AS 7) unless the asset is restricted from being
Bhawan, Premises No. 04 MAR, Plot No. -AF-III, Action and include amendments to help entities distinguish
exchanged or used to settle a liability for at least Interest
Area-1A, New Town, Rajarhat, Kolkata- 700 163. changes in accounting policies from changes
twelve months after the reporting period.
in accounting estimates . Further consequential Interest income from a financial asset is recognized when
The company along with its subsidiaries is primarily it is probable that the economic benefits will flow to the
amendments with respect to the concept of material All other assets are classified as non-current.
involved in the mining and production of Coal. The major company and the amount of income can be measured
accounting policies have also been made in ", Ind
consumers of the company are the power and steel A liability is treated as current by the company when: reliably. Interest income is accrued on a time basis, by
AS 107 "Financial Instruments: Disclosures" and Ind
sectors. Consumers from other sectors include cement, reference to the principal outstanding and at the effective
AS 34 “Interim Financial Reporting”. (a) it expects to settle the liability in its normal
fertilizers, brick kilns, etc. interest rate applicable, which is the rate that exactly
operating cycle;
There are other amendments in various standards discounts the estimated future cash receipts through
The company has ten wholly-owned subsidiaries in India
including Ind AS 101 "First-time Adoption of (b) it holds the liability primarily for the the expected life of the financial asset to that asset's net
out of which seven subsidiaries are coal producing, one
Indian Accounting Standards", Ind AS 103 purpose of trading; carrying amount on initial recognition.
subsidiary is engaged in mine planning, designing, and
"Business Combinations, Ind AS 109 "Financial
related consultancy services and two subsidiaries are (c) the liability is due to be settled within twelve months Dividends
Instruments " Ind AS 115 “Revenue from Contracts
engaged in manufacturing solar value chain (ingot-wafer- after the reporting period; or
with Customers”, Ind AS 12 “Income Taxes” which Dividend is recognised when the company’s right to
cell module) and renewable energy business. CIL also has
has narrowed the scope of the initial recognition (d) it does not have an unconditional right to defer receive the payment is established, which is generally
a fully owned mining company in Mozambique known as
exemption so that it does not apply to transactions settlement of the liability for at least twelve months when shareholders approve the dividend.
‘Coal India Africana Limitada’ which is yet to commence
that give rise to equal and offsetting temporary after the reporting period. Terms of a liability that
operations. The Company is also engaged in certain Other Claims
differences and Ind AS 102 “Share-based Payment” could, at the option of the counterparty, result in its
ventures through Joint Venture arrangements and there
which have not been listed herein above since these settlement by the issue of equity instruments do not Revenue in respect of Other claims (including interest
are also seven step-down subsidiaries.
are not relevant to the Company. affect its classification. on delayed realization from customers) are recognized
The Standalone financial statements for the year ended only when there is reasonable certainty as to the ultimate
Revision in these standards did not have any All other liabilities are classified as non-current.
March 31, 2024, were approved for issue by the Board of collection and the amount can be measured reliably.
material impact on the profit/loss and earning per
Directors of the company on May 02, 2024. Having regard to the nature of the business being carried
share for the year. 2.4 Grants from Government
out by the company, the company has ascertained
B. Statement of Compliance and Recent Accounting Government Grants are not recognised until there is
its operating cycle as twelve months for the purpose
Pronouncements Note 2: Material Accounting Policy Information reasonable assurance that the Company will comply
of current and non-current classification of assets
i) Statement of Compliance 2.1 Basis of preparation of financial statements and liabilities. with the conditions attached to them and that there is
reasonable certainty that grants will be received.
These standalone financial statements have been The standalone financial statements have been prepared 2.3 Revenue recognition
prepared in accordance with the Indian Accounting under the historical cost convention on accrual basis Government grants are recognised in Statement of Profit
Standards (hereinafter referred to as the “Ind AS”) as except certain financial instruments that are measured in Revenue from contracts with customers
and Loss on a systematic basis over the periods in which
notified under the Companies (Indian Accounting terms of relevant Ind AS at amortized costs or fair value at Revenue is principally derived from the sale of coal, related the Company recognises the related expenses or costs
Standards) Rules, 2015 (as amended) read with the end of each reporting period. ancillary services, and products. Revenue from sales of for which the grants are intended to compensate.
Section 133 of the Companies Act, 2013 (“the Act”). products is recognized when control of the products has
The Ind ASs issued, notified and made effective till Historical cost convention is generally based on the transferred, being when the products are delivered to Government Grants related to assets are presented in the
the financial statements are authorized and have fair value of the consideration given in exchange for the customer. Delivery occurs when the products have balance sheet by setting up the grant as deferred income
been considered for the purpose of preparation of goods and services. been shipped or delivered to the specific location as the and are recognised in Statement of Profit and Loss on
these financial statements. case may be, and the risks of loss have been transferred systematic basis over the useful life of asset.
The functional currency of the company is determined
in accordance with the sales contract. The amount of
The accounting policies are applied consistently as the currency of the primary economic environment in Grants related to income (i.e. grant related to other than
revenue recognized reflects the consideration to which
except where a newly issued accounting standard which it operates. The standalone financial statements are assets) are presented as part of statement of profit and
the Company is or expects to be entitled in exchange for
is initially adopted or a revision to an existing presented in Indian Rupees and all values are rounded off loss under the head ‘Other Income’.
those goods or services. Accumulated experience is used
accounting standard requires a change in the to the ‘rupees in crore’ up to two decimal points.
to estimate and provide for the variable consideration as A government grant/assistance that becomes receivable
accounting policy hitherto in use.
2.2 Current and Non-Current Classification per the sales contract, using the most likely method, and as compensation for expenses or losses already incurred
ii) Application of new and revised standards: revenue is only recognized to the extent that it is highly or for the purpose of giving immediate financial
The Company presents assets and liabilities in the Balance
probable that a significant reversal will not occur. The support to the Company with no future related costs,
Effective April 01, 2023, the company has Sheet based on current/ non-current classification. An
amount of consideration does not contain a significant
adopted the amendments vide Companies asset is treated as current by the company when:
(Indian Accounting Standard) Amendment Rules,
346 347
Corporate Overview
is recognised in profit or loss of the period in which it included in the carrying amount of another asset An active programme to locate a buyer and (d) Interest on Borrowings utilized to finance the
becomes receivable. applying other applicable standards. complete the plan has been initiated construction of qualifying assets are capitalised as
part of cost of the asset until such time that the asset
The Government grants or grants in the nature of promoter’s Right-of-use asset is depreciated over the useful life The asset (or disposal group) is being actively is ready for its intended use.
contribution is recognised directly in “Capital Reserve” which of the asset, if the lease transfers ownership of the marketed for sale at a price that is reasonable in
forms part of the “Shareholders fund”. asset to the lessee by the end of the lease term or relation to its current fair value, Each part of an item of property, plant and equipment
if the cost of the right-to-use asset reflects that the with a cost that is significant in relation to the total
2.5 Leases lessee will exercise a purchase option. Otherwise, The sale is expected to qualify for recognition as cost of the item is depreciated separately. However,
the lessee shall depreciate the right-to-use asset a completed sale within one year from the date of significant part(s) of an item of PPE having same useful
A contract is, or contains, a lease if the contract conveys
Statutory Reports
from the commencement date to the earlier of the classification, and life and depreciation method are grouped together in
the right to control the use of an identified asset for a
period of time in exchange for consideration. end of the useful life of the right-of-use asset or the determining the depreciation charge.
Actions required to complete the plan indicate that
end of the lease term.
it is unlikely that significant changes to the plan will Costs of the day to-day servicing described as ‘repairs and
2.5.1 Company as a lessee
2.5.2 Company as a lessor be made or that the plan will be withdrawn. maintenance’ are recognised in the statement of profit
The Company assesses whether a contract contains
and loss in the period in which the same are incurred.
a lease, at inception of a contract. A contract is, or Assets are given on lease either as finance lease or Non-current asset or disposal groups classified as held
contains, a lease if the contract conveys the right to operating lease. for sale are measured at the lower of carrying amount and Subsequent cost of replacing parts which are significant
control the use of an identified asset for a period fair value less costs to sell. in relation to the total cost of an item of property, plant
of time in exchange for consideration. To assess Finance Lease: A lease is classified as finance lease
and equipment are recognised in the carrying amount of
whether a contract conveys the right to control the if it transfers substantially all the risks and rewards 2.7 Property, Plant and Equipment (PPE) and
the item, if it is probable that future economic benefits
use of an identified asset, the Company assesses incidental to ownership of an underlying asset. Depreciation/Amortisation
associated with the item will flow to the Company;
whether: (i) the contract involves the use of an Initially, asset held under finance lease is recognised
An item of PPE is recognized as an asset if it is probable and the cost of the item can be measured reliably. The
identified asset (ii) the Company has substantially in Balance Sheet and presented as a receivable at
that future economic benefits associated with the item carrying amount of those parts that are replaced is
all of the economic benefits from use of the asset an amount equal to the net investment in the lease.
will flow to the Company and the cost of the item can be derecognised in accordance with the derecognition
through the period of the lease and (iii) the Company Finance income is recognised over the lease term,
measured reliably. policy mentioned below.
has the right to direct the use of the asset. based on a pattern reflecting a constant periodic rate
of return on Company's net investment in the lease. PPE are initially measured at cost of acquisition/ When major inspection is performed, its cost is recognised
At the commencement date, a lessee shall recognise construction including decommissioning or restoration in the carrying amount of the item of property, plant and
a right-of-use asset at cost and a lease liability at Operating Lease: A lease which is not classified as
cost wherever required. Cost of land includes equipment as a replacement if it is probable that future
the present value of the lease payments that are a finance lease is an operating lease. The Company
expenditures which are directly attributable to the economic benefits associated with the item will flow to
not paid at that date for all leases unless the lease recognises lease payments in case of assets given on
acquisition of the land like, rehabilitation expenses, the Company; and the cost of the item can be measured
term is 12 months or less or the underlying asset operating leases as income on a straight line basis.
resettlement cost and compensation in lieu of employment reliably. Any remaining carrying amount of the cost of
is of low value. 2.6 Non-current assets held for sale incurred for concerned displaced persons etc. the previous inspection (as distinct from physical parts)
is derecognised.
Subsequently, right-of-use asset is measured using The Company classifies non-current assets and (or After recognition, an item of all other Property, plant and
cost model whereas, the lease liability is measured disposal groups) as held for sale if their carrying amounts equipment are carried at its cost less any accumulated An item of Property, plant or equipment is derecognised
by increasing the carrying amount to reflect interest will be recovered principally through a sale rather than depreciation and any accumulated impairment losses upon disposal or when no future economic benefits are
on the lease liability, reducing the carrying amount to through continuing use. Actions required to complete under Cost Model. The cost of an item of property, plant expected from the continuing use of assets. Any gain or
reflect the lease payments made and re-measuring the sale should indicate that it is unlikely that significant and equipment comprises: loss arising on such derecognition of an item of property
the carrying amount to reflect any reassessment or changes to the sale will be made or that the decision to plant and equipment is recognised in the statement of
lease modifications sell will be withdrawn. Management must be committed (a) its purchase price, including import duties and non-
profit and Loss.
to the sale expected to be completed within one year refundable purchase taxes, after deducting trade
The lease liability is initially measured at amortized from the date of classification. discounts and rebates. Depreciation on property, plant and equipment,
cost at the present value of the future lease except freehold land, is provided as per cost model on
payments. The lease payments are discounted For these purposes, sale transactions include exchanges (b) any costs directly attributable to bringing the
straight line basis over the estimated useful lives of the
using the interest rate implicit in the lease or, if of non-current assets for other non-current assets when asset to the location and condition necessary
asset as follows:
not readily determinable, using the incremental the exchange has commercial substance. The criteria for for it to be capable of operating in the manner
borrowing rates of these leases. Lease liabilities held for sale classification is regarded met only when the intended by management. Assets Useful Life
are premeasured with a corresponding adjustment assets or disposal group is available for immediate sale Other Land : Life of the project
(c) the initial estimate of the costs of dismantling and
to the related right of use asset if the Company in its present condition, subject only to terms that are or lease term
removing the item and restoring the site on which (incl. Leasehold Land)
changes its assessment if whether it will exercise an usual and customary for sales of such assets (or disposal whichever is lower
it is located, the obligation for which the Company
extension or a termination option. Lease liability and groups), its sale is highly probable; and it will genuinely Building (incl. Roads) : 3-60 years
incurs either when the item is acquired or as a
ROU asset are separately presented in the Balance be sold, not abandoned. The Company treats sale of the Telecommunication : 3-9 years
consequence of having used the item during a
Sheet and lease payments are classified as financing asset or disposal group to be highly probable when: Railway Sidings : 15 years
particular period for purposes other than to produce
cash flows. Lease liability obligations is presented Plant and Equipment : 1-40 years
The appropriate level of management is committed inventories during that period.
separately under the head "Financial Liabilities".
to a plan to sell the asset (or disposal group), (incl. Railway Corridor, others)
Finance charges are recognised in finance costs in
the Statement of Profit and Loss, unless the costs are
348 349
Corporate Overview
Computers and Laptops : 3 Years 2.8 Mine Closure, Site Restoration and surveying transportation and infrastructure Whichever event occurs first;
Office equipment : 3-5 years Decommissioning Obligation requirements;
On being brought to revenue, the assets under capital
Furniture and Fixtures : 10 years The Company’s obligation for land reclamation and Conducting market and finance studies. work in progress are reclassified as a component of
Vehicles : 8-10 years decommissioning of structures consists of spending at property, plant, and equipment under the nomenclature
The above includes employee remuneration, cost of
both surface and underground mines in accordance with “Other Mining Infrastructure”. Other Mining infrastructures
Based on technical evaluation, the management believes materials and fuel used, payments to contractors etc.
the guidelines from the Ministry of Coal, Government are amortised from the year when the mine is brought
that the useful lives given above best represent the period of India. The Company estimates its obligation for Mine under revenue in 20 years or the working life of the
As the intangible component represents an insignificant/
over which the management expects to use the asset. Closure, Site Restoration and Decommissioning based project whichever is less.
indistinguishable portion of the overall expected
Hence the useful lives of the assets may be different from
Statutory Reports
upon detailed calculation and technical assessment of tangible costs to be incurred and recouped from future
the useful lives as prescribed under Part C of Schedule II the amount and timing of the future cash spending to 2.11 Intangible Assets and Amortisation
exploitation, these costs along with other capitalised
of the companies act, 2013. perform the required work. Mine Closure expenditure Intangible assets acquired separately are measured
exploration costs are recorded as exploration and
is provided as per approved Mine Closure Plan. The evaluation assets. on initial recognition at cost. Cost includes any directly
The estimated useful life of the assets are reviewed at the
estimates of expenses are escalated for inflation, and then attributable expenses necessary to make the assets ready
end of each financial year.
discounted at a discount rate that reflects current market Exploration and evaluation costs are capitalised on a for its intended use. After initial recognition, intangible
The residual value of Property, plant and equipment assessment of the time value of money and the risks, such project-by-project basis pending the determination assets are carried at cost less any accumulated amortisation
is considered as 5% of the original cost of the asset that the amount of provision reflects the present value of of technical feasibility and commercial viability of the and accumulated impairment losses.
except for some items of assets such as other land, site the expenditures expected to be incurred to settle the project and disclosed as a separate line item under non-
obligation. The Company records a corresponding asset current assets. They are subsequently measured at cost Subsequent expenditure is recognized as an increase in
restoration asset, other mining infrastructure, surveyed
associated with the liability for final reclamation and mine less accumulated impairment/provision. the carrying amount of the asset when it is probable that
off assets. Useful life has been technically estimated to
closure. The obligation and corresponding assets are future economic benefits deriving from the cost incurred
be one year with nil residual value for items such as Coal
recognised in the period in which the liability is incurred. Once proved reserves are determined and the will flow to the Company and the cost of the item can be
tub, winding ropes, haulage ropes, stowing pipes and
The asset representing the total site restoration cost (as development of mines/projects are sanctioned, measured reliably.
safety lamps etc.
estimated by Central Mine Planning and Design Institute exploration and evaluation assets are transferred to
“Development” under capital work in progress. However, An item of Intangible asset is derecognized upon disposal
Depreciation on the assets added/disposed of during the Limited) as per the mine closure plan is recognised as
if proved reserves are not determined, the exploration or when no future economic benefits are expected from
year is provided on pro-rata basis with reference to the a separate item in PPE and amortised over the balance
and evaluation asset is derecognised. its use or disposal. Gains or losses arising from the
month of addition / disposal. project/mine life.
derecognition of an intangible asset are measured as
Value of “Other Land” includes land acquired under The value of the provision is progressively increased over 2.10 Development Expenditure the difference between the net disposal proceeds and
Coal Bearing Area (Acquisition & Development) (CBA) time as the effect of discounting unwinds; creating an When proved reserves are determined and the the carrying amount of the asset and are recognised
Act, 1957, Land Acquisition Act, 1894, Right to Fair expense recognised as a financial expense. development of mines/projects are sanctioned, in the Statement of Profit and Loss when the asset
Compensation and Transparency in Land Acquisition, capitalised exploration and evaluation cost is is derecognised.
Rehabilitation and Resettlement (RFCTLAAR) Act, 2013, Further, a specific escrow fund account is maintained for recognised as assets under construction and disclosed
this purpose as per the approved mine closure plan. Internally generated intangibles, excluding capitalised
Long term transfer of government land etc., which are as a component of capital work in progress under the
development costs, are not capitalised. Instead, the
amortised on the basis of the balance life of the project; head “Development”. All subsequent development
The progressive mine closure expenses incurred on related expenditure is recognised in the statement of
and in case of Leasehold land such amortisation is expenditure is also capitalised. The development
year to year basis forming part of the total mine closure profit and loss and other comprehensive income in the
based on lease period or balance life of the project expenditure capitalised is net of proceeds from the sale
obligation are initially recognised as receivable from period in which the expenditure is incurred.
whichever is lower. of coal extracted during the development phase.
the escrow account and thereafter adjusted with the
obligation in the year in which the amount is withdrawn The useful lives of intangible assets are assessed as either
Assets that are fully depreciated and retired from active Commercial Operation
after the concurrence of the certifying agency. finite or indefinite. Intangible assets with finite lives are
use are disclosed separately as surveyed off assets at its
The project/mines are brought to revenue; when amortised over their useful economic lives and assessed
residual value under Property, Plant Equipment and are
2.9 Exploration and Evaluation Assets commercial readiness of a project/mine to yield for impairment whenever there is an indication that the
tested for impairment.
production on a sustainable basis is established either on intangible asset may be impaired. The amortisation period
Exploration and evaluation assets comprise costs that are
Capital Expenses incurred by the Company on the the basis of conditions specifically stated in the project and the amortisation method for an intangible asset with
attributable to the search for coal and related resources,
construction/development of certain assets which are report or on the basis of the following criteria: a finite useful life are reviewed at least at the end of each
pending the determination of technical feasibility and
essential for production, supply of goods or for the access the assessment of commercial viability of an identified reporting period. Changes in the expected useful life or
(a) From the beginning of the financial year immediately the expected pattern of consumption of future economic
to any existing Assets of the Company are recognised as resource which comprises inter alia the following: after the year in which the project achieves physical benefits embodied in the asset are considered to modify
Enabling Assets under Property, Plant and Equipment.
output of 25% of rated capacity as per the approved the amortisation period or method, as appropriate, and
acquisition of rights to explore
Transition to Ind AS project report, or are treated as changes in accounting estimates. The
researching and analysing historical exploration data;
The Company elected to continue with the carrying value amortisation expense on intangible assets with finite lives
gathering exploration data through topographical, (b) 2 years of touching coal, or
as per the cost model (for all of its property, plant and is recognised in the statement of profit and loss.
geo-chemical and geo-physical studies;
equipment as recognised in the financial statements (c) From the beginning of the financial year in which the
exploratory drilling, trenching, and sampling; An intangible asset with an indefinite useful life is
as at the date of transition to Ind ASs, measured as per value of production is more than total, expenses.
determining and examining the volume and grade not amortised but is tested for impairment at each
the previous GAAP.
of the resource; reporting date.
350 351
Corporate Overview
Exploration and Evaluation assets attributable to blocks 2.14.1 Financial assets 2.14.1.2.2 Debt instrument at FVTOCI as on the date of transition is considered
identified for sale or proposed to be sold to outside to be the deemed cost. Subsequently
2.14.1.1 Initial recognition and measurement A ‘debt instrument’ is classified as at
agencies (i.e. for blocks not earmarked for CIL) are Investment in subsidiaries, associates and
All financial assets are recognised initially at the FVTOCI if both of the following
however, classified as Intangible Assets and tested joint ventures are measured at cost.
fair value, in the case of financial assets not criteria are met:
for impairment.
recorded at fair value through profit or loss, In case of consolidated financial statement,
a) The objective of the business model
Expenditure on research is charged to expenditure as plus transaction costs that are attributable to Equity investments in associates and
is achieved both by collecting
and when incurred. Expenditure on development is the acquisition of the financial asset. Purchases joint ventures are accounted as per
contractual cash flows and selling
capitalized only if the expenditure can be measured or sales of financial assets that require delivery equity method as prescribed in para
the financial assets, and
Statutory Reports
reliably, the product or process is technically and of assets within a time frame established by 10 of Ind AS 28.
commercially feasible, future economic benefits are regulation or convention in the market place b) The asset’s contractual cash flows
probable and the Company intends to & has sufficient (regular way trades) are recognised on the represent SPPI. 2.14.1.2.5 Other Equity Investment
resources to complete development and to use or trade date, i.e., the date that the Company All other equity investments in scope of
sell the asset. commits to purchase or sell the asset. However, Debt instruments included within the Ind AS 109 are measured at fair value
trade receivables that do not contain a FVTOCI category are measured initially as through profit or loss.
2.12 Impairment of Assets significant financing component are measured well as at each reporting date at fair value.
(other than financial assets) at transaction price. Fair value movements are recognized in The Company may make an irrevocable
The Company assesses at the end of each reporting period the other comprehensive income (OCI). election to present in other comprehensive
whether there is any indication that an asset may be impaired. 2.14.1.2 Subsequent measurement However, the Company recognizes income subsequent changes in the fair
If any such indication exists, the Company estimates the For purposes of subsequent measurement, interest income, impairment losses & value. The Company makes such election
recoverable amount of the asset. An asset’s recoverable financial assets are classified in four categories: reversals and foreign exchange gain or on an instrument by-instrument basis. The
amount is the higher of the asset’s or cash-generating unit’s loss in the P&L. On derecognition of the classification is made on initial recognition
value in use and its fair value less costs of disposal, and is Debt instruments at amortised cost asset, cumulative gain or loss previously and is irrevocable.
determined for an individual asset, unless the asset does not recognised in OCI is reclassified from
Debt instruments at fair value through the equity to P&L. Interest earned All fair value changes of an equity
generate cash inflows that are largely independent of those
other comprehensive income (FVTOCI) whilst holding FVTOCI debt instrument instrument classified at FVTOCI,
from other assets or groups of assets, in which case the
is reported as interest income using are recognized in OCI. There is no
recoverable amount is determined for the cash-generating Debt instruments, derivatives and equity
the EIR method. subsequent reclassification of fair value
unit to which the asset belongs. The company considers instruments at fair value through profit gains and losses to the Statement of Profit
individual mines as separate cash-generating units for the or loss (FVTPL) 2.14.1.2.3 Debt instrument at FVTPL and Loss. However, the Company may
purpose of a test of impairment.
FVTPL is a residual category for debt transfer the cumulative gain or loss within
Equity instruments measured at fair
If the recoverable amount of an asset is estimated to instruments. Any debt instrument, equity. Dividends from such investments
value through other comprehensive
be less than its carrying amount, the carrying amount which does not meet the criteria for are recognised in the Statement of Profit
income (FVTOCI)
of the asset is reduced to its recoverable amount and categorization as at amortized cost or as and Loss as “other income” when the
the impairment loss is recognised in the Statement of 2.14.1.2.1 Debt instruments at amortised cost FVTOCI, is classified as at FVTPL. Company’s right to receive payments
Profit and Loss. is established.
A ‘debt instrument’ is measured at the amortised
In addition, the Company may elect
cost if both the following conditions are met: Equity instruments included within the
2.13 Investment Property to designate a debt instrument, which
otherwise meets amortized cost or FVTPL category are measured at fair value
Property (land or a building or part of a building or a) The asset is held within a business model
FVTOCI criteria, as at FVTPL. However, with all changes recognized in the P&L.
both) held to earn rentals or for capital appreciation or whose objective is to hold assets for
both, rather than for, use in the production or supply of collecting contractual cash flows, and such election is allowed only if doing so
2.14.1.3 Derecognition
goods or services or for administrative purposes; or sale reduces or eliminates a measurement
b) Contractual terms of the asset give rise on or recognition inconsistency (referred A financial asset (or, where applicable, a part
in the ordinary course of businesses are classified as an
specified dates to cash flows that are solely to as ‘accounting mismatch’). The of a financial asset or part of a group of similar
investment property.
payments of principal and interest (SPPI) Company has not designated any debt financial assets) is primarily derecognised (i.e.
Investment property is measured initially at its cost, on the principal amount outstanding. instrument as at FVTPL. removed from the balance sheet) when:
including related transaction costs and where applicable
After initial measurement, such financial assets Debt instruments included within the The rights to receive cash flows from the
borrowing costs.
are subsequently measured at amortised FVTPL category are measured at fair value asset have expired, or
Investment properties are depreciated using the straight- cost using the effective interest rate (EIR) with all changes recognized in the P&L.
The Company has transferred its rights
line method over their estimated useful lives. method. Amortised cost is calculated by
2.14.1.2.4 Equity investments in to receive cash flows from the asset or
taking into account any discount or premium
2.14 Financial Instruments subsidiaries, associates and Joint has assumed an obligation to pay the
on acquisition and fees or costs that are an
Ventures received cash flows in full without material
A financial instrument is any contract that gives rise to integral part of the EIR. The EIR amortisation
delay to a third party under a ‘pass-
a financial asset of one entity and a financial liability or is included in finance income in the profit or In accordance of Ind AS 101 (First time through’ arrangement and either (a) the
equity instrument of another entity. loss. The losses arising from impairment are adoption of Ind AS), the carrying amount Company has transferred substantially
recognised in the profit or loss. of these investments as per previous GAAP all the risks and rewards of the asset, or
352 353
Corporate Overview
(b) the Company has neither transferred The application of simplified approach does amortisation is included as finance costs which are equity instruments and financial
nor retained substantially all the risks and not require the Company to track changes in in the statement of profit and loss. liabilities. For financial assets which are
rewards of the asset, but has transferred credit risk. Rather, it recognises impairment debt instruments, a reclassification is made
control of the asset. loss allowance based on lifetime ECLs at each 2.14.2.3 Derecognition only if there is a change in the business
reporting date, right from its initial recognition. A financial liability is derecognised when the model for managing those assets. Changes
When the Company has transferred its rights to obligation under the liability is discharged or to the business model are expected to be
receive cash flows from an asset or has entered 2.14.2 Financial liabilities cancelled or expires. When an existing financial
infrequent. The Company’s senior management
into a pass-through arrangement, it evaluates liability is replaced by another from the same
2.14.2.1 Initial recognition and measurement lender on substantially different terms, or the determines change in the business model as
if and to what extent it has retained the risks a result of external or internal changes which
terms of an existing liability are substantially
Statutory Reports
and rewards of ownership. When it has neither The Company’s financial liabilities include trade
modified, such an exchange or modification are significant to the Company’s operations.
transferred nor retained substantially all of the and other payables, loans and borrowings is treated as the derecognition of the original Such changes are evident to external parties. A
risks and rewards of the asset, nor transferred including bank overdrafts. liability and the recognition of a new liability.
change in the business model occurs when the
control of the asset, the Company continues to The difference between the carrying amount of
All financial liabilities are recognised initially a financial liability (or part of a financial liability) Company either begins or ceases to perform
recognise the transferred asset to the extent of an activity that is significant to its operations. If
at fair value and, in the case of loans and extinguished or transferred to another party
the Company’s continuing involvement. In that and the consideration paid, including any non- Company reclassifies financial assets, it applies
borrowings and payables, net of directly
case, the Company also recognises an associated cash assets transferred or liabilities assumed, the reclassification prospectively from the
attributable transaction costs.
liability. The transferred asset and the associated shall be recognised in profit or loss.
reclassification date which is the first day of the
liability are measured on a basis that reflects the 2.14.2.2 Subsequent measurement immediately next reporting period following
2.14.2.4 Reclassification of financial assets
rights and obligations that the Company has
The measurement of financial liabilities the change in business model. The Company
retained. Continuing involvement that takes the The Company determines classification
depends on their classification, as does not restate any previously recognised
form of a guarantee over the transferred asset of financial assets and liabilities on initial
described below: gains, losses (including impairment gains or
is measured at the lower of the original carrying recognition. After initial recognition, no
losses) or interest.
amount of the asset and the maximum amount 2.14.2.2.1 Financial liabilities at fair value through reclassification is made for financial assets
of consideration that the Company could be profit or loss
required to repay. The following table shows various reclassification and how they are accounted for
Financial liabilities at fair value through profit
(H in Crores)
2.14.1.4 Impairment of financial assets (other than or loss include financial liabilities held for
Revised
fair value) trading and financial liabilities designated Original classification Accounting treatment
classification
upon initial recognition as at fair value through
In accordance with Ind AS 109, the Company Amortised cost FVTPL Fair value is measured at reclassification date. Difference
profit or loss. Financial liabilities are classified
applies expected credit loss (ECL) model for between previous amortized cost and fair value is recognised
as held for trading if they are incurred for the
measurement and recognition of impairment in P&L.
purpose of repurchasing in the near term.
loss on the following financial assets and credit FVTPL Amortised Cost Fair value at reclassification date becomes its new gross
This category also includes derivative financial
risk exposure: carrying amount. EIR is calculated based on the new gross
instruments entered into by the Company that
are not designated as hedging instruments in carrying amount.
a) Financial assets that are debt instruments,
Amortised cost FVTOCI Fair value is measured at reclassification date. Difference
and are measured at amortised cost e.g., hedge relationships as defined by Ind AS 109.
between previous amortised cost and fair value is recognised
loans, debt securities, deposits, trade Separated embedded derivatives are also
in OCI. No change in EIR due to reclassification.
receivables and bank balance classified as held for trading unless they are
FVTOCI Amortised cost Fair value at reclassification date becomes its new amortised
designated as effective hedging instruments.
cost carrying amount. However, cumulative gain or loss in
b) Financial assets that are debt
Gains or losses on liabilities held for trading OCI is adjusted against fair value. Consequently, the asset is
instruments and are measured
are recognised in the profit or loss. measured as if it had always been measured at amortised cost.
as at FVTOCI
FVTPL FVTOCI Fair value at reclassification date becomes its new carrying
c) Lease receivables under Ind AS 116 2.14.2.2.2 Financial liabilities at amortised amount. No other adjustment is required.
cost FVTOCI FVTPL Assets continue to be measured at fair value. Cumulative gain
d) Trade receivables or any contractual right or loss previously recognized in OCI is reclassified to P&L at the
After initial recognition, these are
to receive cash or another financial asset reclassification date.
subsequently measured at amortised
that result from transactions that are within
cost using the effective interest rate
the scope of Ind AS 115. 2.14.2.5 Offsetting of financial instruments 2.14.2.6 Fair value measurement of financial
method. Gains and losses are recognised
in profit or loss when the liabilities Financial assets and financial liabilities are offset instruments
The Company follows ‘simplified approach’ for
recognition of impairment loss allowance on: are derecognised as well as through and the net amount is reported in the standalone Fair value is the price that would be received
the effective interest rate amortisation balance sheet if there is a currently enforceable to sell an asset or paid to transfer a liability
Trade receivables or contract revenue process. Amortised cost is calculated legal right to offset the recognised amounts in an orderly transaction between market
receivables; and by taking into account any discount or and there is an intention to settle on a net basis, participants at the measurement date under
All lease receivables resulting from premium on acquisition and fees or costs to realise the assets and settle the liabilities current market conditions.
transactions within the scope of Ind AS 116 that are an integral part of the effective simultaneously.
interest rate. The effective interest rate The Company categorizes assets and liabilities
measured at fair value into one of three levels
354 355
Corporate Overview
depending on the ability to observe inputs The Company’s liability for current tax is calculated using tax combination, the tax effect is included in the accounting The application of actuarial valuation involves
employed for such measurement: rates that have been enacted or substantively enacted by the for the business combination. making assumptions about the discount rate,
end of the reporting period. expected rates of return on assets, future salary
(a) Level 1: inputs are quoted prices Deferred income tax assets and liabilities are offset increases, mortality rates etc. Due to the long-
(unadjusted) in active markets for identical Deferred tax liabilities are generally recognised for when there is a legally enforceable right to offset current term nature of these plans, such estimates
assets or liabilities. all taxable temporary differences. Deferred tax assets tax assets against current tax liabilities, and when the are subject to uncertainties. The calculation
are generally recognised for all deductible temporary deferred income tax assets and liabilities relate to income is performed at each balance sheet by an
(b) Level 2: inputs other than quoted difference to the extent that it is probable that taxable taxes levied by the same taxation authority on either the actuary using the projected unit credit method.
prices included within level 1 that are profits will be available against which those deductible taxable entity or different taxable entities where there is When the calculation results in the benefit to
Statutory Reports
observable either directly or indirectly for temporary differences can be utilised. Such assets and an intention to settle the balances on a net basis. the Company, the recognised asset is limited
the asset or liability. liabilities are not recognised if the temporary difference to the present value of the economic benefits
arises from goodwill or from the initial recognition (other 2.17 Employee Benefits
(c) Level 3: inputs for the asset or liability available in the form of any future refunds from
than in a business combination) of other assets and 2.17.1 Short-term Benefits the plan or reduction in future contributions to
which are not based on observable
liabilities in a transaction that affects neither the taxable the plan. An economic benefit is available to
market data (unobservable inputs). Short-term employee benefits are employee benefits
profit nor the accounting profit. the Company if it is realisable during the life of
(other than termination benefits) that are expected to
The Company has an established control be settled wholly before twelve months after the end the plan, or on settlement of plan liabilities.
Deferred tax liabilities are recognised for taxable
framework with respect to the measurement of the annual reporting period in which the employees
temporary differences associated with investments in Re-measurement of the net defined benefit
of fair values. This includes a finance team render the related service.
subsidiaries and associates, except where the Company liability, which comprises actuarial gain and
that has overall responsibility for overseeing
is able to control the reversal of the temporary difference losses considering the return on plan assets
all significant fair value measurements who All short-term employee benefits are recognized
and it is probable that the temporary difference will not (excluding interest) and the effects of the assets
regularly review significant unobservable in the period in which the services are
reverse in the foreseeable future. Deferred tax assets ceiling (if any, excluding interest) are recognised
inputs, valuation adjustments and fair rendered by employees.
arising from deductible temporary differences associated immediately in the other comprehensive income.
value hierarchy under which the valuation
with such investments and interests are only recognised 2.17.2 Post-employment benefits and other long term The Company determines the net interest
should be classified.
to the extent that it is probable that there will be sufficient employee benefits expense (income) on the net defined benefit
2.14.3 Cash and Cash equivalents taxable profits against which to utilise the benefits of the liability (asset) for the period by applying the
2.17.2.1 Defined contributions plans
temporary differences. discount rate used to measure the defined
Cash and cash equivalents in the balance sheet A defined contribution plan is a post-
comprise cash at banks and on hand and short-term benefit obligation at the beginning of the annual
The carrying amount of deferred tax assets is reviewed employment benefit plan under which the
deposits with an original maturity of three months or period to the then net defined benefit liability
at the end of each reporting period and reduced to the Company pays a fixed contribution into a
less, which are subject to an insignificant risk of changes (asset), taking into account any changes in the net
extent that it is no longer probable that sufficient taxable fund maintained by a separate body and the
in value. For the purpose of the standalone statement defined benefit liability (asset) during the period
profits will be available to allow all or part of the asset Company will have no legal or constructive
of cash flows, cash and cash equivalents consist of as a result of contributions and benefit payments.
to be recovered. Unrecognised deferred tax assets are obligation to pay further amounts. Obligations
cash and short-term deposits, as defined above, net of Net interest expense and other expenses related
reassessed at the end of each reporting year and are for contributions to defined contribution
outstanding bank overdrafts as they are considered an to defined benefit plans are recognised in
recognised to the extent that it has become probable that plans are recognised as an employee benefit
integral part of the Company’s cash management. profit and loss.
sufficient taxable profit will be available to allow all or part expense in the statement of profit and loss
of the deferred tax asset to be recovered. in the periods during which services are When the benefits of the plan are improved,
2.15. Borrowing Costs
rendered by employees. the portion of the increased benefit relating
Borrowing costs are expensed as and when incurred Deferred tax assets and liabilities are measured at the tax
to past service by employees is recognised as
except where they are directly attributable to the rates that are expected to apply in the period in which the 2.17.2.2 Defined benefits plans
an expense immediately in the statement of
acquisition, construction or production of qualifying liability is settled or the asset is realised, based on tax rate
A defined benefit plan is a post-employment profit and loss.
assets i.e. the assets that necessarily takes substantial (and tax laws) that have been enacted or substantively
benefit plan other than a defined contribution
period of time to get ready for its intended use, in which enacted by the end of the reporting period. 2.17.3 Other long-term employee benefits
plan. The Company’s net obligation in respect
case they are capitalised as part of the cost of related
The measurement of deferred tax liabilities and assets of defined benefit plans is calculated by Other long-term employee benefits are all employee
asset up to the date when the qualifying asset is ready for
reflects the tax consequences that would follow from the estimating the amount of future benefit that benefits other than short-term employee benefits,
its intended use.
manner in which the Company expects, at the end of the employees have earned in return of their service post-employment benefits and termination benefits.
2.16 Taxation reporting period, to recover or settle the carrying amount in the current and prior periods. The benefit is
of its assets and liabilities. discounted to determine its present value and Other long-term employee benefits include
Income tax expense represents the sum of the tax payable reduced by the fair value of plan assets, if any. items which are not expected to be settled wholly
for the year and deferred tax. Current and deferred tax are recognised in profit or loss, The discount rate is based on the prevailing before twelve months after the end of the annual
except when they relate to items that are recognised market yields of Indian Government securities reporting period in which the employees render the
Current tax is the amount of income taxes payable
in other comprehensive income or directly in equity, as at the reporting date that have maturity dates related service.
(recoverable) in respect of the taxable profit (tax loss) for a
in which case, the current and deferred tax are also approximating the terms of the Company’s
period. Taxable profit differs from “profit before income tax” For other long-term employee benefits, net total of
recognised in other comprehensive income or directly obligations and that are denominated in
as reported in the statement of profit and loss and other the following amounts is recognized in the statement
in equity respectively. Where current tax or deferred the same currency in which the benefits are
comprehensive income because it excludes items of income of profit or loss:
tax arises from the initial accounting for a business expected to be paid.
or expense that are taxable or deductible in other years and
it further excludes items that are never taxable or deductible.
356 357
Corporate Overview
(a) Service cost which will be extracted in future periods. Stripping costs 2.21 Provisions, Contingent Liabilities and Contingent The carrying amount of the stripping activity provision is
during the production phase are allocated between the Assets reversed systematically whenever the situation of reversal
(b) Net interest on the net defined benefit inventory produced and the stripping activity asset using arises on extraction of actual volume of overburden over
liability (asset) Provisions are recognized when the Company has a present
a standard strip ratio (overburden-to-coal). The standard expected volume thereof. Such reversal is specific to
obligation (legal or constructive) as a result of a past event,
strip ratio is the total volume of Overburden expected mines at the rate the said provision has been recognized.
(c) Re-measurements of the net defined benefit and it is probable that an outflow of economic benefits will
to be removed over the life of the mine against the total
liability (asset) be required to settle the obligation and a reliable estimate 2.24 Judgements, Estimates and Assumptions
coal to be extracted over the life of the mine. When the
of the amount of the obligation can be made. Where the
2.18 Foreign Currency actual volume of overburden removed is greater than the The preparation of the financial statements in conformity
time value of money is material, provisions are stated at
expected volume of overburden removal, the stripping with Ind AS requires management to make estimates,
Statutory Reports
Transactions in foreign currencies are converted into the the present value of the expenditure expected to settle
cost for excess overburden removed over the expected judgments, and assumptions that affect the application
reported currency of the Company using the exchange the obligation.
overburden removal is capitalised to the stripping activity of accounting policies and the reported amounts of
rate prevailing at the transaction date. Monetary assets and
asset. The stripping activity asset is amortised over the All provisions are reviewed at each balance sheet date assets and liabilities, the disclosures of contingent assets
liabilities denominated in foreign currencies outstanding
life of the mine. Changes in geo-mining conditions may and adjusted to reflect the current best estimate. and liabilities at the date of financial statements and the
at the end of the reporting period are translated at the
have an impact on the standard strip ratio. Changes to amount of revenue and expenses during the reported
exchange rates prevailing as at the end of reporting Where it is not probable that an outflow of economic benefits
the ratio are accounted for prospectively. Stripping period. Application of accounting policies involving
period. Exchange differences arising on the settlement will be required, or the amount cannot be estimated reliably,
activity asset are shown separately under Property, complex and subjective judgements and the use of
of monetary assets and liabilities or on translating the obligation is disclosed as a contingent liability, unless the
plant, and equipment. assumptions in these financial statements have been
monetary assets and liabilities at rates different from probability of outflow of economic benefits is remote. Possible disclosed. Accounting estimates could change from
those at which they were translated on initial recognition Stripping activity asset for stripping costs during the obligations, whose existence will only be confirmed by the
period to period. Actual results could differ from those
during the period or in previous financial statements are production phase are recognised in the mines with a rated occurrence or non-occurrence of one or more future uncertain estimates. Estimates and underlying assumptions are
recognised in statement of profit and loss in the period in capacity of one million Tonnes per annum and above. events not wholly within the control of the Company, are also reviewed on an ongoing basis. Revisions to accounting
which they arise. disclosed as contingent liabilities unless the probability of
2.20 Inventories estimates are recognised in the period in which the
outflow of economic benefits is remote. estimates are revised and, if material, their effects are
Non-monetary items denominated in foreign currency
2.20.1 Stock of Coal disclosed in the notes to the financial statements.
are valued at the exchange rates prevailing on the date Contingent assets are possible assets that arise from past
of transactions. Inventories of coal/coke are stated at lower of cost
events and whose existence will be confirmed only by the 2.24.1 Judgements
and net realisable value. The cost of inventories are
occurrence or non-occurrence of one or more uncertain
2.19 Stripping Activity calculated using the Weighted Average method. In the process of applying the Company’s accounting
future events not wholly within the control of the
In case of opencast mining, the mine waste materials Net realisable value represents the estimated policies, management has made the following
Company. Contingent assets are disclosed in the financial
(“overburden”) which consists of soil and rock on the top of selling price of inventories less all estimated costs of judgments, which have the most significant effect on
statements when inflow of economic benefits is probable
coal seam is required to be removed to get access to the coal completion and costs necessary to make the sale. the amounts recognised in the financial statements:
on the basis of the judgment of management. These are
and its extraction. The process of removing overburden to assessed continually to ensure that developments are
Book stock of coal is considered in the accounts 2.24.1.1 Formulation of Accounting Policies
access coal is referred to as stripping. Stripping is necessary appropriately reflected in the financial statements.
where the variance between book stock and
to obtain access to coal and occurs throughout the life of Accounting policies are formulated in a manner
measured stock is up to +/- 5% and in cases where
an opencast mine. Stripping costs during development 2.22 Earnings per share that results in financial statements containing
the variance is beyond +/- 5% the measured stock is
and production phases are classified in property, plant, and relevant and reliable information about the
considered. Such stocks are valued at net realisable Basic earnings per share are computed by dividing the
equipment. Stripping costs are accounted for separately for transactions, other events and conditions
value or cost whichever is lower. Coke is considered net profit after tax by the weighted average number of
individual mines. to which they apply. Those policies need
as a part of the stock of coal. equity shares outstanding during the period. Diluted
not be applied when the effect of applying
earnings per shares is computed by dividing the profit
The Company accounts for stripping activities them is immaterial.
Coal & coke-fines are valued at lower of cost or after tax by the weighted average number of equity shares
as follows:
net realisable value and considered as a part of considered for deriving basic earnings per shares and also In the absence of an Ind AS that specifically
Stripping costs during the Development phase the stock of coal. the weighted average number of equity shares that could applies to a transaction, other event or
have been issued upon conversion of all dilutive potential condition, management has used its judgment
These are initial overburden removal costs incurred to Slurry (coking/semi-coking), middling of washeries, equity shares. in developing and applying an accounting
obtain access to coal to be extracted. These costs are and by products are valued at net realisable value and
capitalised when it is probable that future economic policy that results in information that is:
considered as a part of the stock of coal. 2.23 Stripping activity provision (Ratio Variance)
benefits will flow to the Group and costs can be
2.20.2 Stores, Spares, and Other Inventories Stripping activity provision recognized earlier is based on a) relevant to the economic decision-making
measured reliably. Once the production phase begins,
the policy followed consistently by CIL since its inception. needs of users and
capitalised development stripping costs are amortised The Stock of stores and spares including other Stripping activity provision was recognized or reversed
over the mine life. inventories are valued at cost calculated on the basis b) reliable in that financial statements: and
based on the current ratio of OB to Coal as compared to
of the weighted average method. the average Stripping ratio (Standard ratio) of the mine. This
Stripping costs during the production phase: (i) represent faithfully the financial
accounting method has been substantiated and validated
These are overburden removal costs incurred after the Provisions are made at the rate of 100% for position, financial performance and
by a multitude of authoritative bodies and forums, including
mine has been brought to revenue as per the policy of unserviceable, damaged and obsolete stores and cash flows of the Company;
income tax authorities.
the Company. Stripping costs during the production spares and at the rate of 50% for stores & spares not (ii) reflect the economic substance
phase can give rise to two benefits, the extraction of moved for 5 years. of transactions, other events
coal in the current period and improved access to coal
358 359
Corporate Overview
and conditions, and not merely both of the items. The deciding factor is whether The application of accounting policies that require the discount rate, future salary increases and
the legal form; omitting or misstating or obscuring an information critical judgements and accounting estimates involving mortality rates.
(iii) are neutral, i.e. free from bias; could individually or in combination with other complex and subjective judgements and the use of
information influence decisions that primary users assumptions in these standalone financial statements Due to the complexities involved in the valuation
(iv) are prudent; and and its long-term nature, a defined benefit
make on the basis of the financial statements. have been disclosed here in below:
(v) are complete in all material respects Management also uses judgement of materiality obligation is highly sensitive to changes in these
on a consistent basis for determining the compliance requirement of 2.24.2.1 Impairment of non-financial assets assumptions. All assumptions are reviewed at
the Ind AS. Further, the Company may also be There is an indication of impairment if, the carrying each reporting date. The parameter most subject
In making the judgment management refers to change is the discount rate. In determining the
required to present separately immaterial items value of an asset or cash generating unit exceeds
Statutory Reports
to, and considers the applicability of, the appropriate discount rate for plans operated in
when required by law. its recoverable amount, which is the higher of its
following sources in descending order: India, the management considers the interest
fair value less costs of disposal and its value in use.
With effect from 01.04.2019 Errors/omissions Company considers individual mines as separate rates of government bonds in currencies
(a) the requirements in Ind ASs dealing with
discovered during the year relating to prior cash generating units for the purpose of test of consistent with the currencies of the post-
similar and related issues; and
periods are treated as immaterial and adjusted impairment. The value in use calculation is based on employment benefit obligation.
(b) the definitions, recognition criteria during the year, if all such errors and omissions a DCF model. The cash flows are derived from the
in aggregate does not exceed 1% of total The mortality rate is based on publicly available
and measurement concepts for assets, budget for the next five years and do not include
revenue from Operation (net of statutory levies) mortality tables of the country. Those mortality
liabilities, income, and expenses restructuring activities that the Company is not yet
as per the last audited financial statement tables tend to change only at interval in response to
in the Framework. committed to or significant future investments that
of the Company. demographic changes.
will enhance the asset’s performance of the Cash
In making the judgment, management
Generating Unit (CGU) being tested. The recoverable 2.24.2.4 Intangible asset under development
considers the most recent pronouncements of 2.24.1.3 Operating lease
amount is sensitive to the discount rate used for the
the International Accounting Standards Board Company has entered into lease agreements. The Company capitalises intangible asset under
Discounted Cash Flow (DCF) model as well as the
and in the absence thereof those of the other The Company has determined, based on an development for a project in accordance with
expected future cash-inflows and the growth rate
standard-setting bodies that use a similar evaluation of the terms and conditions of the the accounting policy. Initial capitalisation of
used for extrapolation purposes. These estimates
conceptual framework to develop accounting arrangements, such as the lease term not costs is based on management’s judgement
are most relevant to other mining infrastructures. The
standards, other accounting literature, and constituting a major part of the economic life of that technological and economic feasibility
key assumptions used to determine the recoverable
accepted industry practices, to the extent that the commercial property and the fair value of the is confirmed, usually when a project report is
amount for the different CGUs, are disclosed and
these do not conflict with the Indian accounting asset, that it retains all the significant risks and formulated and approved.
further explained in respective notes.
Standard and accounting policies and practices rewards of ownership of these properties and
2.24.2.5 Provision for Mine Closure, Site Restoration
as stated in above paragraph. accounts for the contracts as operating leases. 2.24.2.2 Taxes
and Decommissioning Obligation
The Company operates in the mining sector (a Deferred tax assets are recognised for unused tax
2.24.2 Estimates and assumptions In determining the fair value of the provision
sector where the exploration, evaluation, and losses to the extent that it is probable that taxable
The key assumptions concerning the future and other for Mine Closure, Site Restoration and
development production phases are based profit will be available against which the losses can
key sources of estimation uncertainty at the reporting Decommissioning Obligation, assumptions
on the varied topographical and geo-mining be utilised. Significant management judgement
date, that have a significant risk of causing a material and estimates are made in relation to discount
terrain spread over the lease period running is required to determine the amount of deferred
adjustment to the carrying amounts of assets and rates, the expected cost of site restoration and
over decades and prone to constant changes), tax assets that can be recognised, based upon the
liabilities within the next financial year, are described dismantling and the expected timing of those
the accounting policies whereof have evolved likely timing and the level of future taxable profits
below. The Company based its assumptions costs. The Company estimates provision using the
based on specific industry practices supported by together with future tax planning strategies.
and estimates on parameters available when the Discounted Cash Flow (DCF) method considering
research committees and approved by the various life of the project/mine based on
standalone financial statements were prepared. 2.24.2.3 Defined benefit plans
regulators owing to its consistent application
Existing circumstances and assumptions about future The cost of the defined benefit plan and other
over the last several decades. In the absence Estimated cost per hectare as specified
developments, however, may change due to market post-employment medical benefits and the
of specific accounting literature, guidance and in guidelines issued by Ministry of Coal,
changes or circumstances arising that are beyond the present value of the obligations are determined
standards in certain specific areas which are in the Government of India
control of the Company. Such changes are reflected in using actuarial valuations. An actuarial
process of evolution, the Company continues to
the assumptions when they occur. valuation involves making various assumptions The discount rate (pre-tax rate) that reflect
strive to develop accounting policies in line with
the development of accounting literature and that may differ from actual developments in current market assessments of the time
The estimates, judgements and associated
any development therein shall be accounted for the future. These include the determination of value of money and the risks specific
assumptions are based on historical experience and
prospectively as per the procedure laid down to the liability.
other factors that are considered to be relevant. Actual
above more, particularly in Ind AS 8. results may differ from these estimates.
2.24.1.2 Materiality Estimates and underlying assumptions are reviewed
Ind AS applies to items which are material. on an ongoing basis. Revisions to accounting estimates
Management uses judgement in deciding are recognised in the period in which the estimate is
whether individual items or groups of item are revised and future periods affected.
material in the financial statements. Materiality is
judged by reference to the nature or magnitude or
360 361
j.
i.
f.
c.
k.
a.
e.
h.
b.
g.
d.
362
EIR
PPE
P&L
OCI
SPPI
DCF
CGU
GAAP
FVTPL
Ind AS
FVTOCI
Income
2.25 Abbreviation used:
Profit and Loss

Cash generating unit
Effective Interest Rate

Discounted Cash Flow
Indian Accounting Standards

Other Comprehensive Income
Property, Plant and Equipment

Fair value through Profit & Loss
Solely Payment of Principal and Interest

Generally accepted accounting principles
Fair value through Other Comprehensive
l.
r.
t.
v.
s.
u.
n.
o.
p.
q.
m.
CIL
ECL
CCL
NCL
NEC
MCL
IICM
WCL
SECL
BCCL
CMPDIL
Limited
Coal India Limited

North Eastern Coalfields
Central Coalfields Limited

Bharat Coking Coal Limited

Mahanadi Coalfields Limited
South Eastern Coalfields Limited
Indian Institute of Coal Management

Central Mine Planning & Design Institute
NOTES TO THE FINANCIAL STATEMENTS (STANDALONE)
NOTE 3.1 : PROPERTY , PLANT AND EQUIPMENT

(H in Crores)
Other
Site Furniture Tele-
Freehold Other Plant and Office Railway Mining Surveyed
Particulars 3.1.1 3.1.1
Restoration Building3.1.1 3.1.2
and Vehicles communi- Total
Land Land Equipment Equipments Sidings Infra- off Assets
Costs 3.1.3 Fixtures cation
structure
Gross Carrying Amount:

As at 1st April, 2022 95.45 44.17 11.20 299.95 70.87 18.99 1.44 12.95 6.03 4.82 0.18 0.20 566.25
Additions 6.02 - 3.17 4.16 0.40 0.76 2.05 8.23 0.43 0.00 20.40 0.04 45.66
Deletions/Adjustments - - - (0.06) (2.37) (0.31) (0.12) (1.04) (0.04) 0.00 (3.10) 0.00 (7.04)
As at 31st March, 2023 101.47 44.17 14.37 304.05 68.90 19.44 3.37 20.14 6.42 4.82 17.48 0.24 604.87
As at 1st April, 2023 101.47 44.17 14.37 304.05 68.90 19.44 3.37 20.14 6.42 4.82 17.48 0.24 604.87
Additions 106.07 - - 2.65 1.31 0.95 0.36 2.25 0.36 - 0.41 0.04 114.40
Deletions/Adjustments - (0.17) (0.09) (0.89) (0.60) (0.03) (0.02) (1.80)
As at 31st March, 2024 207.54 44.17 14.37 306.70 70.04 20.30 2.84 21.79 6.75 4.82 17.89 0.26 717.47
Accumulated Depreciation, Amortisation
and Impairment 3.1.4
As at 1st April, 2022 - 41.58 5.90 39.15 34.17 11.68 0.55 7.58 4.27 0.47 0.16 - 145.51
Charge for the year - 1.77 0.35 7.06 5.96 1.72 0.26 3.35 0.27 0.28 0.84 - 21.86
Deletions/Adjustments - - - (0.01) (2.29) (0.14) (0.11) (0.90) (0.03) - - - (3.48)
As at 31st March, 2023 - 43.35 6.25 46.20 37.84 13.26 0.70 10.03 4.51 0.75 1.00 - 163.89
As at 1st April, 2023 - 43.35 6.25 46.20 37.84 13.26 0.70 10.03 4.51 0.75 1.00 - 163.89
Charge for the year - 0.01 0.36 6.84 5.25 1.73 0.36 3.94 0.33 0.26 0.84 - 19.92
Deletions/Adjustments - - - - (0.16) (0.03) (0.60) (0.50) (0.03) - - - (1.32)
As at 31st March, 2024 - 43.36 6.61 53.04 42.93 14.96 0.46 13.47 4.81 1.01 1.84 - 182.49
Net Carrying Amount
As at 31st March, 2024 207.54 0.81 7.76 253.66 27.11 5.34 2.38 8.32 1.94 3.81 16.05 0.26 534.98
As at 31st March, 2023 101.47 0.82 8.12 257.85 31.06 6.18 2.67 10.11 1.91 4.07 16.48 0.24 440.98
363

364
NOTE 3.1 : PROPERTY , PLANT AND EQUIPMENT (Contd..)
3.1.1. Title deeds of Immovable Properties not held in name of the Company
Gross Whether title deed holder

Description Property
carrying Title deeds held is a promoter, director or
of item of held since Reason for not being held in the name of the company
value in the name of relative or employee of
property which date
(J in Crore) promoter/director
Freehold 0.03 Assam Railways No Different 934.45 hectares of freehold land were acquired by the company in the process of
land and Trading Dates Nationalisation for which nil value was recorded in the books.
Company 10.97 hectares of freehold land were acquired by the company in the process of
Limited/ Nationalisation for which nil value was recorded in the books.
MS Dilli Colliery/ 0.92 hectares of freehold land were acquired by the company for which title deeds
Title deeds not were not available and nil value was recorded in the books.
available 5.60 hectares of freehold land were acquired by the company in the process of
Nationalisation for which a value H 0.03 Crore was recorded in the books.
All other title deeds for land acquired are in the possession and are mutated in favour
of the company except in a few cases of freehold lands, where the same is under
progress pending legal formalities.
Other land - Title deeds not Not Applicable Different 4489.82 hectares land is in the category of other land which were acquired by the
available Dates company in the process of Nationalisation for which nil value was recorded in the
books.
Land acquired in pursuance to Coal Mines (Nationalisation) Act 1973, Land acquired
under Coal Bearing Areas (Acquisition and Development) Act, 1957 and Land
Acquisition Act, 1894 does not require title deeds separately for corresponding land.
Building 82.88 Title deeds not No Different Buildings are promoted by Standing Committee of Public Enterprises and NBCC on
available Dates behalf of Ministry of Urban Development (GOI) and CIL has allotment letters only as
proof of ownership
3.1.2. Dankuni Coal Complex / Indian Institute of Coal Management:

a. Property, Plant and Equipment comprising Plant and Equipment and related building and other assets having written down value as on 31.03.2024 of H 9.17 Crore (as on
31.03.2023 H 9.28 crore), continue to be let out to South Eastern Coalfields Limited for a lease rent of H 1.80 Crore per annum under cancellable operating lease agreement.
b. Property, Plant and Equipment comprising Plant and Equipment and related building and other assets having written down value as on 31.03.2024 of H 11.93 Crore (as on
31.03.2023 H 11.06 crore) have been let out to Indian Institute of Coal Management, a registered society under Societies Registration Act, 1860 for an annual lease rent of H 0.01
crore under cancellable operating lease agreement.
3.1.3.Site Restoration cost comprises the estimated cost to be incurred at the stage of mine closure duly escalated for inflation (5% p.a.) and then discounted at 8 % discount rate that
reflects the current market rate of fair value and the risk.

NOTE 3.1 : PROPERTY , PLANT AND EQUIPMENT (Contd..)
3.1.4. Movement in accumulated impairment
(H in Crores)
Other
Site Furniture Tele-
Freehold Other Plant and Office Railway Mining Surveyed
Particulars Restoration Building and Vehicles communi- Total
Land Land Equipment Equipments Sidings Infra- off Assets
Costs Fixtures cation
structure
As at 1st April, 2022 - - - 2.18 6.23 0.06 0.01 0.10 0.19 12.67 0.30 21.74
As at 31st March, 2023 - - - 2.18 6.23 0.06 0.01 0.10 0.19 - 12.67 0.30 21.74
As at 1st April, 2023 - - - 2.18 6.23 0.06 0.01 0.10 0.19 - 12.67 0.30 21.74
As at 31st March, 2024 - - - 2.18 6.23 0.06 0.01 0.10 0.19 - 12.67 0.30 21.74
NOTE 3.2 : CAPITAL WORK IN PROGRESS

(H in Crores)
Plant and Other Mining
Particulars Building Railway Sidings Solar Project Total
Equipment infrastructure

As at 1st April, 2022 5.43 0.29 - 37.57 11.82 55.11
Additions 4.83 0.00 - 32.63 42.74 80.20
Capitalisation/Adjustments (3.96) (0.11) - (20.40) (0.02) (24.49)
As at 31st March, 2023 6.30 0.18 - 49.80 54.54 110.82
As at 1st April, 2023 6.30 0.18 - 49.80 54.54 110.82
Additions 0.00 1.33 0.23 50.88 14.23 66.67
Capitalisation/Adjustments (4.87) (1.19) - (26.94) (0.01) (33.01)
As at 31st March, 2024 1.43 0.32 0.23 73.74 68.76 144.48
Accumulated Impairment
As at 1st April, 2022 - 0.18 - 1.91 - 2.09
Charge for the year - - - - - -
Deletions/Adjustments - - - - - -
As at 31st March, 2023 - 0.18 - 1.91 - 2.09
As at 1st April, 2023 - 0.18 - 1.91 - 2.09
Charge for the year - - - - -
Deletions/Adjustments - - - - -
As at 31st March, 2024 - 0.18 - 1.91 - 2.09
Net Carrying Amount
As at 31st March, 2024 1.43 0.14 0.23 71.83 68.76 142.39
As at 31st March, 2023 6.30 - - 47.89 54.54 108.73
365

Corporate Overview
Note: Note:
3.2.1 Ageing schedule for Capital-work-in Progress (Gross): NOTE 3.3 : EXPLORATION AND EVALUATION ASSETS (Contd..)
(H in Crores) 3.3.1 Ageing schedule for Exploration and Evaluation (Gross):
Amount of Capital Work-in-Progress as at 31-03-2024 (H in Crores)
Less than More than Amount in Exploration and Evaluation as at 31-03-2024
Particulars 1-2 years 2-3 years Total
1 year 3 years Less than More than
Particulars 1-2 years 2-3 years Total
Projects in progress: 1 year 3 years
Building 0.50 0.93 - - 1.43 Projects in progress:
Statutory Reports
Plant and Equipments 0.12 - - 0.20 0.32 Exploration and Evaluation
Railway Sidings 0.23 - - - 0.23 Projects temporarily suspended:
Other Mining infrastructure 0.97 2.03 2.92 67.82 73.74 Exploration and Evaluation - - - 9.26 9.26
Solar Project 13.74 43.22 11.80 - 68.76 Total - - - 9.26 9.26
Total 15.56 46.18 14.72 68.02 144.48
(H in Crores) (H in Crores)
Amount of Capital Work-in-Progress as at 31-03-2023 Amount in Exploration and Evaluation as at 31-03-2023
Less than More than Less than More than
Particulars 1-2 years 2-3 years Total Particulars 1-2 years 2-3 years Total
1 year 3 years 1 year 3 years
Projects in progress: Projects in progress:
Building 5.40 - 0.90 6.30 Exploration and Evaluation
Plant and Equipments 0.06 - - 0.12 0.18 Projects temporarily suspended:
Railway Sidings 0.23 - - - 0.23 Exploration and Evaluation - - 0.03 9.23 9.26
Other Mining infrastructure 1.43 - 0.95 47.42 49.80 Total - - 0.03 9.23 9.26
Solar Project - 54.54 - - 54.54
Total 6.89 54.54 0.95 48.44 110.82
NOTE 3.4 : INTANGIBLE ASSETS NOTE 3.5 : INTANGIBLE ASSETS UNDER DEVELOPMENT
Amount incurred during the year for any running project are considered as expenditure incurred in the year of project initiation (H in Crores)
(H in Crores)
for the purpose of ageing schedule. Computer
ERP under
Software
NOTE 3.3 : EXPLORATION AND EVALUATION ASSETS Development
(H in Crores) Carrying Amount:
As at 1st April, 2022 4.07
Exploration and As at 1st April, 2022 105.14
Particulars Additions 131.70
Evaluation Costs Additions 7.03
As at 31st March, 2023 135.77
Gross Carrying Amount: As at 1st April, 2023 135.77 Capitalisation/ Deletions (112.17)
As at 1st April, 2022 11.82 Deletions/Adjustments 4.56 As at 31st March, 2023 -
Additions - As at 31st March, 2024 140.33 As at 1st April, 2023 -
Transfer to Capital Work in Progress/Deletions (2.56) Accumulated Amortisation and Additions
As at 31st March, 2023 9.26 Capitalisation/ Deletions
Impairment
As at 1st April, 2023 9.26 As at 31st March, 2024 -
Additions - Accumulated Impairment
Charge for the year 21.08
Transfer to Capital Work in Progress/Deletions - As at 1st April, 2022 -
As at 31st March, 2023 23.01
As at 31st March, 2024 9.26 Charge for the year -
Accumulated Impairment Deletions/Adjustments -
Charge for the year 23.42
As at 31st March, 2024 46.43
Charge for the year - As at 1st April, 2023 -
Net Carrying Amount
Deletions/Adjustments - Charge for the year -
As at 31st March, 2024 93.90
As at 31st March, 2023 9.26 Deletions/Adjustments -
As at 31st March, 2023 112.76
Charge for the year - Carrying Amount
Deletions/Adjustments - As at 31st March, 2024 -
As at 31st March, 2024 9.26 As at 31st March, 2023 -
Net Carrying Amount
As at 31st March, 2024 -
As at 31st March, 2023 -
366 367
Corporate Overview
NOTE - 4.1 : INVESTMENTS (NON-CURRENT)
(H in Crores)
CURRENT
As at As at
Particulars % of Holding (H in Crores)
31-03-2024 31-03-2023
As at As at
Investment in Equity Shares in Subsidiaries (Unquoted) Particulars Units NAV (₹)
31-03-2024 31-03-2023
Mutual Fund Investment (Unquoted)
(Sanctoria , West Bengal )4.1.3
SBI Mutual Fund - Overnight 76813.061 3779.2823 29.03 38.21
42694200 equity share of H 1000 each fully paid 100%
(P.Y. 108442.820) (P.Y. 3523.3030)
(P.Y. 42694200 equity share of H 1000 each fully paid) (100%) 4269.42 4269.42 Canara Robeco Mutual Fund 4499.132 2893.5275 1.30 -
Statutory Reports
Central Coalfields Limited (Ranchi , Jharkhand )
(P.Y. 13.6370) (P.Y. 2696.7127)
18800000 equity share of H 1000 each fully paid 100% Union KBC Mutual Fund 4196.269 2328.5165 0.98 0.01
(P.Y. 9400000 equity share of H 1000 each fully paid) (100%) 940.00 940.00 (P.Y. 36.85) (P.Y. 2169.4479)
Bharat Coking Coal Limited (Dhanbad, Jharkhand) Bank of Baroda Mutual Fund 14300.389 2784.781 3.98 0.01
46570000 equity share of H 1000 each fully paid 100% (P.Y. 36.638) (P.Y. 2595.4687)
(P.Y. 46570000 equity share of H 1000 each fully paid) (100%) 4,657.00 4,657.00 TOTAL 35.29 38.23
Western Coalfields Limited (Nagpur, Maharastra) 4.1.1 Refer note 16(3) for Classification
2971000 equity share of H 1000 each fully paid 100% 4.1.2 Detail of market value of Quoted/Unquoted Investment
(P.Y. 2971000 equity share of H 1000 each fully paid) (100%) 297.10 297.10 (H in Crores)
Central Mine Planning & Design Institute Limited Non-Current Current
(Ranchi , Jharkhand) Particulars As at As at As at As at
1428000 equity share of H 1000 each fully paid 100% 31-03-2024 31-03-2023 31-03-2024 31-03-2023
(P.Y. 1428000 equity share of H 1000 each fully paid) (100%) 19.04 19.04 Aggregate amount of unquoted investments: 14,170.94 13,824.44 35.29 38.23
Northern Coalfields Limited (Singrauli, Madhya Pradesh )
4.1.3. Investment in Eastern Coalfields Limited (ECL) CIL/SAIL/RINL/NTPC & NMDC for the acquisition
(P.Y. 6309405 equity share of H 1000 each fully paid) (100%) 126.19 126.19
South Eastern Coalfields Limited (Bilaspur, Chattisgarh) The investment in Equity Shares of ECL, a wholly of coking coal properties abroad. The formation of
6680561 equity share of H 1000 each fully paid 100% owned subsidiary, is long term and strategic in nature. the SPV had been approved by the Government of
(P.Y. 6680561 equity share of H 1000 each fully paid) (100%) 278.36 278.36 The investment at cost in ECL is H 4269.42 crore (P.Y. India, vide its approval dated 8th November, 2007.
Mahanadi Coalfields Limited (Sambalpur, Orissa) The aforesaid SPV viz. International Coal Ventures Private
H 4269.42 crore). The accumulated loss in reserves
13236726 equity share of H 1000 each fully paid 100% Limited was incorporated under the Companies Act,
and surplus has come to H 1291.78 crore (H 1725.55
(P.Y. 6618363 equity share of H 1000 each fully paid) (100%) 132.37 132.37 1956 on 20th May, 2009 initially with an authorised capital
crore in P.Y.) from H 2716.00 crore as on 31.03.2015
Coal India Africana Limitada (Moatize, Mozambique) 4.1.4 Quota Capital 0.53 0.53 of H 1.00 crore and paid-up capital of H 0.70 crore. Coal
(i.e. the end of the year in which it came out of BIFR).
Less: Provision for impairment4.1.10 0.53 - India Limited is owning 0.19% share i.e. H 2.80 crore face
- 0.53 In view of ECL turning around and the investments in the
value of equity shares.
CIL Solar PV Limited (Kolkata, West Bengal) company being long term and strategic in nature, book
50000 equity share of H 10 each fully paid 100% value of investment has been considered. 4.1.6. Investment in CIL NTPC Urja Private Limited
(P.Y. 50000 equity share of H 10 each fully paid) (100%) 0.05 0.05 4.1.4. Investment in Coal India Africana Limitada (CIAL)
CIL Navikarniya Urja Limited (Kolkata, West Bengal) CIL NTPC Urja Private Limited, a 50:50 joint venture
50000 equity share of H 10 each fully paid 100% Coal India Limited formed a wholly owned Subsidiary company was formed on 27th April’2010 between CIL
(P.Y. 50000 equity share of H 10 each fully paid) (100%) 0.05 0.05 in the Republic of Mozambique, named “Coal India & NTPC for setting up of joint integrated power plants
10,719.58 10,720.11 Africana Limitada” to explore non-coking coal properties along with mining of coal. Coal India Limited is presently
Equity Shares in Joint Ventures (Unquoted) in Mozambique. The paid-up capital (known as “Quota holding 50% equity shares of face value of H 0.08 crore
International Coal Venture Private Limited (New Delhi)4.1.5 Capital”) is H 0.53 crore. On 20th June 2023, the Board in the joint venture Company.
2800000 equity share of H 10 each fully paid 0.19% of Directors of the holding company (Coal India Limited)
(P.Y. 2800000 equity share of H 10 each fully paid) (0.19%) 2.80 2.80 approved the closure of Coal India Africana Limitada, 4.1.7. Investment in Talcher Fertilizers Limited
CIL NTPC Urja Private Limited (New Delhi)4.1.6
Mozambique, subject to approval from Government of A Joint venture company named 'Talcher Fertilizers
India. The subsidiary was not in operation. In view of the Limited' (formerly known as Rashtriya Coal Gas Fertilizers
(P.Y. 76900 equity share of H 10 each fully paid) (50%) 0.08 0.08
same, the investment in Coal India Africana Limitada has Limited was incorporated on 13th November,2015 under
Talcher Fertilizers Limited (Bhubneswar, Orissa)4.1.7
been fully impaired. the Companies Act, 2013 under a joint venture agreement
805480826 equity share of H 10 each fully paid 33.33%
(P.Y. 805480826 equity share of H 10 each fully paid) (33.33%) 805.48 805.48 dated 27th October,2015, among Coal India Limited (CIL),
4.1.5. Investment in International Coal Ventures Private Rashtriya Chemicals and Fertilizers Limited, GAIL (India)
Hindustan Urvarak & Rasayan Limited (New Delhi)4.1.8
Limited Limited and Fertilizer Corporation of India Limited with an
2642985000 equity share of H 10 each fully paid 33.33%
(P.Y. 2295955000 equity share of H 10 each fully paid) (33.33%) 2,642.99 2,295.96 CIL has entered into a Memorandum of Understanding authorised share capital of H 4200.00 Crore. Presently Coal
Coal Lignite Urja Vikas Private Limited (Kolkata, West Bengal)4.1.9 (vide approval from its Board in 237th meeting held on 24th India Limited has invested H 805.48 crore (i.e. 33.33%) in
10000 equity share of H 10 each fully paid 50% November, 2007) regarding the formation of a Special the joint venture company upto 31-03-2024.
(P.Y. 10000 equity share of H 10 each fully paid) (50%) 0.01 0.01 Purpose Vehicle (SPV) through a joint venture involving
3,451.36 3,104.33
Total 14,170.94 13,824.44
368 369
Corporate Overview
NOTE - 4.1 : INVESTMENTS (NON-CURRENT) (Contd..) NOTE - 4.2 : LOANS (Contd..) NOTE - 4.3 : TRADE RECEIVABLES (Contd..)
4.1.8. Investment in Hindustan Urvarak and Rasayan Limited (H in Crores) 4.3.3. Trade Receivables ageing schedule
Non-Current
As at 31-03-2024
Particulars As at As at
By virtue of agreement dated 16th May, 2016 made (H in Crores)
31-03-2024 31-03-2023
between CIL and NTPC Limited, a joint venture company Outstanding for following periods from transaction date
- Credit impaired 1.87 1.87 Particulars Total
named Hindustan Urvarak and Rasayan Limited (HURL) Less than 6 months More than
1.89 1.89 1-2 years 2-3 years
was formed. Subsequently, joint venture agreement has 6 months 1 year 3 years
Less: Allowance for doubtful 1.87 1.87
been revised on 31st October, 2016 to include IOCL, FCIL loans4.2.2 (i) Undisputed Trade Receivables - - - - - -
Statutory Reports
and HFCL as joint venture partners. The authorised share TOTAL 0.02 0.02 – considered good
capital of the company is H 12000.00 Crore. Presently Coal (ii) Undisputed Trade Receivables - - - - -
– which have significant increase in credit risk
India Limited has invested H 2642.99 crore (i.e. 33.33%) in 4.2.1. There is no loans to Related Parties.
(iii) Undisputed Trade Receivables - - - - 7.47 7.47
the joint venture company upto 31-03-2024. 4.2.2 The details of movement in Allowance for doubtful loans – credit impaired
(Current and Non-Current) (iv) Disputed Trade Receivables - - - - -
4.1.9. Investment in Coal Lignite Urja Vikas Private Limited – considered good
(H in Crores)
A joint venture company named 'Coal Lignite Urja Vikas (v) Disputed Trade Receivables - - - - -
As at As at – which have significant increase in credit risk
Private Limited' was incorporated on 10th November 2020 Particulars
31-03-2024 31-03-2023 (vi) Disputed Trade Receivables - - - - 3.70 3.70
under the Companies Act, 2013 under a joint venture
Balance at the beginning of 1.87 1.87 – credit impaired
agreement dated 08th October 2020 with NLCIL as a
the year Total - - - - 11.17 11.17
joint venture partner. The authorized share capital of the Unbilled dues - - - - - -
Recognised during - -
company is H 0.10 Crore. Presently Coal India Limited Allowance for bad and doubtful debts - - - - 11.17 11.17
the year
has invested H 0.01 Crore (i.e. 50%) in the joint venture Expected credit losses - - - - 100% 100%
Utilised during the year - -
company upto 31-03-2024. (Loss allowance provision) - %
Balance at the end of 1.87 1.87
the year
4.1.10 The details of movement in impairment on investment
(Current and Non-Current)
(H in Crores) NOTE - 4.3 : TRADE RECEIVABLES As at 31-03-2023
(H in Crores) (H in Crores)
Current
Current Outstanding for following periods from transaction date
As at As at Particulars Less than 6 months More than Total
31-03-2024 31-03-2023 Particulars 1-2 years 2-3 years
31-03- 31-03- 6 months 1 year 3 years
Balance at the - -
2024 2023 (i) Undisputed Trade Receivables 3.57 - - - - 3.57
beginning of the year
Unsecured considered good - 3.57 – considered good
Recognised during 0.53 -
Credit impaired 11.17 11.17 (ii) Undisputed Trade Receivables - - - - -
the year – which have significant increase in credit risk
Utilised during the year - - 11.17 14.74
Less : Allowance for bad and 11.17 11.17 (iii) Undisputed Trade Receivables - - - - 7.47 7.47
Balance at the 0.53 -
– credit impaired
end of the year doubtful debts4.3.2
- 3.57 (iv) Disputed Trade Receivables - - - - -
TOTAL
Refer Note -16 3(a) for fair value measurement – considered good
4.3.1. For dues from directors -
(v) Disputed Trade Receivables - - - - - -
Refer Note 16(2)(a)(vii) – which have significant increase in credit risk
NOTE - 4.2 : LOANS
4.3.2 The details of movement in (vi) Disputed Trade Receivables - - - - 3.70 3.70
(H in Crores)
Allowance for doubtful loans – credit impaired
Non-Current
(Current and Non-Current) Total 3.57 - - - 11.17 14.74
Balance at the beginning 11.17 11.17 Unbilled dues - - - - - -
31-03-2024 31-03-2023
of the year Allowance for bad and doubtful debts - - - - 11.17 11.17
Loans to other than related Recognised during the year - - Expected credit losses - - - - 100% 76%
parties - - (Loss allowance provision) - %
Utilised during the year
Loans to body corporate and
Balance at the end 11.17 11.17
employees
- Secured, considered good 0.02 0.02 of the year
NOTE - 4.4 : CASH AND CASH EQUIVALENTS
(H in Crore)
As at As at
Particulars
31-03-2024 31-03-2023
(a) Balances with Banks
- in Deposit Accounts - 142.50
- in Current Accounts 37.39 13.76
Others (e-procurement account/GeM account/Imprest balances).
5.86 10.83
Total 43.25 167.09
370 371
Corporate Overview
NOTE - 4.6 : OTHER FINANCIAL ASSETS (Contd..) NOTE - 5.1 : INVENTORIES (Contd..)
4.4.1. Cash and cash equivalents comprise cash at the bank, NOTE - 4.6 : OTHER FINANCIAL ASSETS (Contd..)
4.6.3. Coal India Limited entered into a Consortium 5.1.1 The details of movement in provision for diminution
sweep accounts, and term deposits held with banks with (H in Crore)
Agreement with M/s BEML Limited and M/s Damodar in value
original maturities of three months or less. As at As at
Valley Corporation (DVC) on 08.06.2010 for acquiring (H in Crore)
Particulars 31-03- 31-03-
NOTE - 4.5 : OTHER BANK BALANCES specified assets of M/s Mining and Allied Machinery As at As at
(H in Crore) 2024 2023 Particulars
Corporation (under liquidation). The agreement, inter alia, 31-03-2024 31-03-2023
As at As at Less : Allowance for doubtful 3.47 3.47 provided for the formation of a joint venture company
Particulars Balance at the beginning 0.06 0.06
31-03-2024 31-03-2023 deposits and receivables4.6.5 with a shareholding pattern of 48:26:26 among BEML,CIL,
and DVC respectively. CIL has paid its proportionate share of the year
12.75 16.23
Statutory Reports
(a) Balances with Banks Recognised during - -
towards bid consideration of H 100 Crores towards the said
Deposit accounts 4.5.1
1,337.67 987.57 Total 1180.52 972.70 the year
acquisition based on the order passed by Hon'ble High Court
Derecognised during - -
Deposit accounts (For 79.41 4.73 4.6.1. Deposit with bank under Mine Closure Plan of Calcutta. An amount was paid towards bid consideration
the year
specific purposes)4.5.1 & 4.5.2 and other miscellaneous expenditure H 37.65 crore (P.Y. H
Following the guidelines from Ministry of Coal, Government Balance at the end 0.06 0.06
Unpaid dividend accounts 16.37 15.50 35.34 crores). Further a Company in the name of MAMC
of India for preparation of Mine Closure Plan, an Escrow of the year
Industries Limited (MIL) has been formed and incorporated
Total 1,433.45 1,007.80 Account has been opened. The interest earned/accrued on 25th August 2010 as a wholly owned subsidiary of BEML
during the year on such Escrow Account H 5.11 Crore (P.Y. H for the intended purpose of Joint Venture formation. As per 5.1.2 The inventory of stores and spares comprises items that
4.5.1. Other Bank Balances comprises deposits for specific 3.58 crore) is included in interest income from deposit with fall into the categories of slow-moving, non-moving, and
the terms and condition of the Consortium Agreement, a
purposes and bank deposits which are expected to banks Up to 50% of the total deposited amount including obsolete etc. provisions are recognized for these items as
shareholders' agreement and joint venture agreement was
realise in cash within 12 months after the reporting date. per the company's policya
interest accrued in the ESCROW account may be released to be executed. However, shareholders' agreement and
NOTE - 4.5 : OTHER BANK BALANCES (Contd..) after every five years in line with the periodic examination joint venture agreement are not yet executed. The details of movement in provisions for slow-moving,
of the closure plan as per the Guidelines. (Refer Note 9.1 non-moving and obsolete Stores, Spares, and other
4.5.2. Deposits for specific purposes are bank deposits held 4.6.4. For dues from directors - Refer Note 16(2)(a)(vi) inventories :
for Provision for Site Restoration/Mine Closure).
under lien/earmarked as per court order and for other 4.6.5. The details of movement in Allowance for doubtful (H in Crore)
specific purposes. The above also includes Tax Deducted Escrow Account Balance deposits and receivables and Subsidiaries Current As at As at
Particulars
at Source yet to be deposited against the second interim Account(Current) 31-03-2024 31-03-2023
dividend declared in the Financial year 2023-24. (H in Crore) (H in Crore) Balance at the beginning 0.40 0.40
As at As at As at As at of the year
NOTE - 4.6 : OTHER FINANCIAL ASSETS Particulars Particulars
31-03-2024 31-03-2023 31-03-2024 31-03-2023 Recognised during - -
57.30 the year
Opening Balance in Escrow 75.32 69.28 Balance at the beginning 57.30
Derecognised during (0.01) -
(H in Crore) Account of the year
the year
As at As at 2.83 Recognised during - - Balance at the end 0.39 0.40
Add: Amount deposited 3.08
Particulars 31-03- 31-03- the year of the year
during Year
2024 2023 Utilised during the year - -
Add: Interest Credited 4.60 3.21
Non-Current Balance at the end 57.30 57.30 5.1.3. Method of valuation: Refer Note No. 2.20 - Material
during the year (net of TDS)
Security Deposits 3.10 3.48 of the year Accounting Policies on "Inventories"
Less: Amount Withdrawn - -
Bank Deposits with more than 12 0.14 0.14 during year NOTE - 6.1 : OTHER NON-CURRENT ASSETS
months maturity 75.32 (H in Crore)
Balance in Escrow 83.00
4.6.6 Includes due from Joint Venture Companies As at As at
Deposit in Bank under Mine 83.00 75.32 Account on Closing date Particulars
(Refer Note No. 16 (2)(b)(ii)) 31-03-2024 31-03-2023
Closure Plan4.6.1
Deposit in Bank under Shifting 4,958.45 5,320.15 NOTE - 5.1 : INVENTORIES Capital Advances 47.18 44.23
4.6.2. Deposit in Bank under Shifting and Rehabilitation
(H in Crore)
and Rehabilitation Fund Fund scheme Less : Allowance for 0.04 1.43
As at As at
scheme4.6.2 doubtful advances6.1.1
Following the direction of the Ministry of Coal, the Particulars 31-03- 31-03- 47.14 42.80
Other Deposit and 37.65 35.37
Company has setup a fund for implementation of 2024 2023 Total 47.14 42.80
Receivables 4.6.3 action plan for shifting and rehabilitation, dealing
TOTAL 5,082.34 5,434.46 with fire and stabilization of unstable areas of Eastern Stock of Coal (Finished goods) 36.71 19.37 6.1.1 The details of movement in Allowance for doubtful
CURRENT Coalfields Limited (ECL) and Bharat Coking Coal Limited Less: Provision for diminution in 0.06 0.06 advances
(BCCL). The fund is utilized (ECL and BCCL) based on value5.1.1 (H in Crore)
Security Deposit 0.73 0.34
implementation of approved projects in this respect. 36.65 19.31 As at As at
Current Account Balance with 937.73 757.92 Particulars
The coal producing subsidiaries of CIL are making a Stores, Spares and other 1.40 1.64 31-03-2024 31-03-2023
Subsidiaries contribution of H 6/- per tonne of their respective coal inventories5.1.2 Balance at the 1.43 -
Less : Allowance for doubtful 53.83 53.83 dispatch per annum to this fund, which remains in the
Less: Provision for slow-moving, 0.39 0.40 beginning of the year
balances with Subsidiaries4.6.5 custody of CIL as bank deposit for this purpose, till Recognised during - 1.43
non-moving, and obsolete Stores,
883.90 704.09 they are disbursed/utilized by subsidiaries/agencies the year
implementing the relevant projects. Spares, and other inventories. Utilised during (1.39) -
Balance with IICM 5.37 5.83
1.01 1.24 the year
Interest accrued 277.77 246.21 Total 37.66 20.55 Balance at the end 0.04 1.43
Other Deposit and Receivables4.6.6 16.22 19.70 of the year
372 373
Corporate Overview
NOTE - 6.2 : OTHER CURRENT ASSETS NOTE - 6.2 : OTHER CURRENT ASSETS (Contd..) NOTE - 7.1 : EQUITY SHARE CAPITAL (Contd..)
(H in Crore) 6.2.5 For Advance to Related Parties refer 16(2)(b)(i) 7.1.2. Reconciliation of equity shares outstanding at the beginning and at the end of reporting period:-
As at As at (H in Crore)
Particulars 6.2.6 The details of movement in Allowance for doubtful
31-03-2024 31-03-2023 Particulars Number of Shares Amount
deposits and advances
Advances other than Capital Balance as on 01.04.2019 6,16,27,28,327 6162.73
Advances (H in Crore)
Changes during the Year - -
As at As at Balance as on 31.03.2020 6,16,27,28,327 6162.73
Other Deposits and 289.12 252.84 Particulars
31-03-2024 31-03-2023 Changes during the year - -
Advances6.2.1 & 6.2.2
Balance as on 31.03.2021 6,16,27,28,327 6162.73
Statutory Reports
Less : Allowance for doubtful 2.27 2.27 Balance at the 2.27 2.27
Changes during the Year - -
other deposits beginning of the year Balance as on 31.03.2022 6,16,27,28,327 6162.73
and advances6.2.3 & 6.2.6 Recognised during - - Changes during the Year - -
250.57 the year Balance as on 31-03-2023 6,16,27,28,327 6162.73
286.85
- Changes during the Year - -
Advance to Related Parties 6.2.5
132.35 67.27 Utilised during -
Balance as on 31-03-2024 6,16,27,28,327 6162.73
0.40 the year
Progressive Mine Closure 0.46
Expense incurred Balance at the 2.27 2.27
end of the year 7.1.3. Listing of shares of Coal India Limited in Stock Exchange.
Input Tax Credit receivable6.2.4 78.75 76.81
Total 498.41 395.05 The shares of Coal India Limited is listed in two major stock exchanges of India, viz. Bombay Stock Exchange and National Stock Exchange
NOTE - 7.1 : EQUITY SHARE CAPITAL on and from 4th November,2010.
6.2.1 includes deposit under protest and refund yet to be received
(H in Crore)
for Income tax H 20 crore (P.Y. H 20 crore). The details of disinvestment/Buyback of shares by Goverment of India is furnished below:
As at As at
6.2.2 Other Deposit and Advances includes H 76.15 crore (P.Y. Particulars (H in Crore)
31-03-2024 31-03-2023
H 98.86 crore) for gratuity fund and leave fund net of % of shares No. of shares
Authorised Share Capital Particulars Mode
liabilities. Disinvestment Disinvested
8,00,00,00,000 Equity Shares of 8,000.00 8,000.00
6.2.3 Represents provisions of H 2.27 crore (P.Y. H 2.27 crore) 2010-11 10.00% 631636440.00 IPO
H 10/- each
against deposit of realisation from sale of seize coal stock 2013-14 0.35% 22037834.00 CPSE-ETF
(8,00,00,00,000 Equity Shares
in the custody of Margherita Treasury.) 2014-15 10.00% 631636440.00 OFS
of H 10/- each)
6.2.4 Input tax credit relating to Goods and Service Tax paid on Issued, Subscribed and Paid- 2015-16 0.001% 83104.00 CPSE-ETF
input materials/services available for utilisation against the up Share Capital 2016-17 1.25% 78842816.00 Buyback
Goods and Service Tax on output. This to a large extent 6,16,27,28,327 Equity Shares of 6,162.73 6,162.73 2016-17 0.92% 57156437.00 CPSE-ETF
includes Goods and Service Tax on royalty against mining H 10/- each fully paid 0.31% 19299613.00 Bharat 22-ETF
2017-18
operations paid under Reverse Charge Mechanism (RCM) (6,16,27,28,327) Equity Shares 2018-19 0.23% 13991488.00 Bharat 22-ETF
at a rate of 18% against which the recovery is limited to 5% of H 10/- each fully paid
2018-19 3.19% 198003931.00 OFS
being the rate of duty payable on coal. The amount getting
Total 6,162.73 6,162.73
accumulated due to the inverted tax structure. 2018-19 2.21% 137311943.00 CPSE-ETF
2018-19 0.01% 681840.00 OFS
2018-19 0.38% 23779267.00 Bharat 22-ETF
7.1.1. Shares in the company held by each shareholder holding more than 5% Shares 2018-19 1.37% 84592894.00 CPSE-ETF
2018-19 0.19% 44293572.00 Buyback
(H in Crore)
2019-20 1.70% 104977641.00 CPSE ETF FFO5
Number of % of Total % Change during
Particulars 2019-20 0.21% 12835528.00 Bharat 22 ETF
Shares held Shares the year
2019-20 2.91% 179569059.00 CPSE ETF FFO6
Hon'ble President of India (Promoter) 31-03-2024 3890735938.00 63.13 -4.54%
2023-24 3.00% 184881848.00 OFS
31-03-2023 4075634553.00 66.13
2023-24 0.00% 16767.00 OFS - Employee
Life Insurance Corporation of India 31-03-2024 627589285.00 10.18 -7.44%
2425628462.00
31-03-2023 678015625.00 11.00
Hence, the number of shares held by Government of India stood at 3890735938 i.e. 63.13% of the total 6162728327 number
of shares outstanding as on 31-03-2024.
7.1.4. The Company has only one class of equity shares having a face value H 10/- per share. The holders of the equity shares
are entitled to receive dividends as declared from time to time and are entitled to voting rights proportionate to their share
holding at the meeting of shareholders. The dividend proposed by the Board of Directors is subject to the approval of the
shareholders in the Annual General Meeting. In the event of liquidation, the equity shareholders are eligible to receive the
remaining assets of the company after payment of all preferential amount, in proportion to their shareholdings.
374 375
Corporate Overview
NOTE - 7.2 : OTHER EQUITY NOTE - 7.2 : OTHER EQUITY (Contd..) NOTE - 7.2 : OTHER EQUITY (Contd..) NOTE - 8.2 : TRADE PAYABLES (Contd..)
(H in Crore) (b) General Reserve subject to approval in the forthcoming Annual General Act, 2006 (the Act). Disclosure requirement under
As at As at (H in Crore) Meeting of the company. The first interim dividend of Section 22 of the Micro, Small and Medium Enterprises
Particulars H 15.25 (152.50%) per equity share and second interim Development Act, 2006 is given below:
31-03-2024 31-03-2023 As at As at
Particulars
31-03-2024 31-03-2023 dividend of H 5.25 (52.50 %) per equity share for the (H in Crore)
(a) Capital Redemption reserve 1,057.81 1,057.81
financial year 2023-24 were declared on 10th November As at As at
(b) General Reserve 4,337.55 4,303.75 Balance at the beginning 4,303.75 4276.95
2023 and 12th February, 2024 respectively. Particulars 31-03- 31-03-
5,182.16 of the year
(c) Retained Earnings 5,767.64 2024 2023
Addition during the year 33.80 26.80 NOTE - 8.1 : BORROWINGS
TOTAL 11,163.00 10,543.72 (H in Crore)
Statutory Reports
a) Principal & Interest amount
As at As at remaining unpaid but due
Balance at the end 4303.75 Particulars
4,337.55 31-03-2024 31-03-2023 thereon as at period end
(a) Capital Redemption Reserve of the year
Non-Current i. Principal amount 1.07 0.29
(H in Crore) The general reserve is a free reserve that is used from ii. Interest amount thereon - -
- -
As at As at time to time to transfer profits from/to retained earnings b) Interest paid by the Company - -
Particulars Current
31-03-2024 31-03-2023 for appropriation purposes. in terms of Section 16 of Micro,
- -
Balance at the 1057.81 1057.81 Small and Medium Enterprises
(c) (i) Retained Earnings
beginning of the year Development Act, 2006, along
(H in Crore)
Addition during NOTE - 8.2 : TRADE PAYABLES with the amount of the payment
As at As at
the year Particulars (H in Crore) made to the supplier beyond the
31-03-2024 31-03-2023
- As at As at appointed day during the period.
Adjustment during -
Balance at the 5,289.05 4,841.93 Particulars c) Interest due and payable - -
the year 31-03-2024 31-03-2023
beginning of the year for the period of delay in
Balance at the end 1,057.81 1,057.81 Current
Profit for the year 15,766.83 14,802.31 making payment (which have
of the year Total outstanding dues of 1.07 0.29
Interim Dividend (12,633.63) (12,479.57) been paid but beyond the
(i) As per Companies Act, 2013 Capital Redemption micro, small and medium appointed day during the
Final Dividend (2,465.09) (1,848.82)
Reserve is created when company purchases its enterprises8.2.1 year) but without adding the
Transfer to General (33.80) (26.80)
own share out of free reserve or securities premium, Total outstanding dues of 76.93 64.91 interest specified under Micro,
reserve
a sum equal to the nominal value of the shares so Creditors other than micro, Small and Medium Enterprises
Balance at the end 5,923.36 5,289.05
purchased is transferred to capital redemption small and medium enterprises Development Act, 2006.
of the year d) Interest accrued and remaining - -
reserve. The reserve is utilised in accordance Total 78.00 65.20
with the provsions of the section 69 of the unpaid as at period end
(c) (ii) Other Comprehensive Income items that will not be e) Further interest remaining - -
Companies Act, 2013. 8.2.1.Trade payables -Total outstanding dues of Micro and
reclassified to profit or loss (i) due and payable even in the
Small enterprises
(ii) In case of Company: (H in Crore) succeeding years, until such
Disclosure of Sundry Creditors under Trade Payables is date when the interest dues as
As at As at
Details of Capital Redemption Reserve Particulars based on the information available with the company above are actually paid to the
31-03-2024 31-03-2023
regarding the nature of the suppliers as defined under small enterprise.
Balance at the (106.89) 18.53
the Micro, Small and Medium Enterprise Development
Amount beginning of the year
Particulars Year
(J in Crore) Other (48.83) (125.42)
Non-Cumulative 10% 904.18 Upto FY Comprehensive 8.2.2 Trade Payables aging schedule
Redeemable Preference 2000-01 Income during
As at 31-03-2024
Share the year
(H in Crores)
Buyback of Equity 108.95 FY 2016-17 Balance at the end (155.72) (106.89)
Outstanding for following periods from transaction date
Share of the year
Particulars Less than 1 More than 3
Buyback of Equity 44.68 FY 2018-19 Total (c)(i) + (ii)) 5,767.64 5,182.16 1-2 Years 2-3 years Total
year years
Share
(i) represents net actuarial gains/(losses) on defined i) MSME 1.07 - - - 1.07
Total 1057.81
benefit plans (net of tax) ii) Others 49.74 25.04 2.12 0.03 76.93
iii) Disputed dues -MSME - - - - -
(d) The Board of Directors of the company has recommended
iv) Disputed dues -Others - - - - -
a final dividend of H 5.00 (50.00%) per equity share Unbilled dues - - - -
376 377
Corporate Overview
8.2.2 Trade Payables aging schedule (Contd..) NOTE - 9.1 : PROVISIONS (Contd..)
As at 31-03-2023 creating an expense recognised as financial expenses. In reference to above guidelines for preparation of mine closure plan,
an escrow account has been opened. (Refer Note - 4.6.1)
Trade Payables aging schedule
(H in Crores) Reconciliation of Reclamation of Land/ Site restoration /Mine Closure :
Outstanding for following periods from transaction date (H in Crore)
Particulars Less than 1 More than 3 As at As at
1-2 Years 2-3 years Total Particulars
year years 31-03-2024 31-03-2023
i) MSME 0.29 - - - 0.29
Statutory Reports
ii) Others 55.22 8.90 0.60 0.19 64.91 Site restoration provision on opening date 48.77 48.18
iii) Disputed dues -MSME - - - - -
iv) Disputed dues -Others - - - - - Addition of further Site restoration Provision - -
Unbilled dues - - - - - Add: Unwinding of Provision charged for the year 2.02 1.92
Less: Withdrawal during the year - 1.33
NOTE - 8.3 : OTHER FINANCIAL LIABILITIES NOTE - 9.1 : PROVISIONS (Contd..) Mine Closure Provision 50.79 48.77
As at As at As at As at 9.1.2 As per the National Coal Wages Agreement (NCWA-XI) for the Non-Executives, considering the total impact of the increase
31-03-2024 31-03-2023 31-03-2024 31-03-2023 in all elements of salary and wages an estimated provision of H 41.14 crore @ Rs. 19,100/- per employee (Non-Executive) per
NON-CURRENT Other Provisions month was recognized in the previous year . However, in June 2023 NCWA-XI has been implemented and salary is being
Security Deposits 41.80 41.42 Site Restoration/Mine Closure9.1.1 50.79 48.77 paid at a revised rate. Arrear salary has also been paid by September 2023 except for retired employees.
Total 41.80 41.42 Total 228.34 197.21
9.1.3 The details of movement in Provisions (Current and Non-Current)
CURRENT CURRENT
Unpaid dividends8.3.1 16.37 15.50 Employee Benefits The position and movement of various provisions as per Ind AS-37 except those relating to Gratuity, Leave encashment and
31.55 Post Retirement Medical benefits.
Security Deposits 6.89 91.75 Post Retirement Medical - (H in Crores)
Earnest Money 14.35 17.19 Benefits Balance at Utilised Balance
Other Employee Benefits9.1.2 88.03 122.45 charged during
Payable for Capital Expenditure 47.54 66.87 Particulars the beginning during at the end
the year
Liability for Employee Benefits 35.02 36.84 88.03 154.00 of the year the year of the year
Others 84.13 44.97 Other Provisions Other Employee Benefits 125.42 - 34.58 90.84
Total 204.30 273.12 Others 1.35 0.72 Others 0.72 0.63 - 1.35
Total 89.38 154.72
8.3.1. During the FY 2023-24 an amount of H 1.61 crore (P.Y.
H Nil crore) in respect of the dividend of FY 2015-16
which has been transferred to Investor Education and 9.1.1 Provision for Site Restoration/Mine Closure
NOTE - 10.1: OTHER NON CURRENT LIABILITIES NOTE - 10.2 : OTHER CURRENT LIABILITIES
Protection Fund (IEPF) as the same remained unpaid and The Company's obligation for land reclamation and
unclaimed for a period of seven years from the date of decommissioning of structures consists of spending at (H in Crore) (H in Crore)
transfer of such dividend to unpaid dividend account. both surface and underground mines in accordance As at As at As at As at
NOTE - 9.1 : PROVISIONS with the guidelines from Ministry of Coal, Government 31-03-2024 31-03-2023 31-03-2024 31-03-2023
of India. The estimate of obligation for Mine Closure, Site Shifting and Rehabilitation 5,883.74 5,771.41 Statutory Dues 132.91 55.00
(H in Crore) Restoration and Decommissioning based upon detailed Fund10.1.1, 10.1.2 &10.1.3 134.12
Advance from customers and 17.28
As at As at calculation and technical assessment of the amount 1.25
Particulars Deferred Income 3.23 others
31-03-2024 31-03-2023 and timing of the future cash spending to perform the
(Government Grant) Others liabilities 1.29 0.64
required work. Mine Closure expenditure is provided
NON-CURRENT Others 0.24 0.20 TOTAL 151.48 189.76
as per approved Mine Closure Plan. The estimates of
Employee Benefits TOTAL 5,887.21 5,772.86
expenses are escalated for inflation, and then discounted
Post Retirement Medical 174.74 145.47 at a discount rate (@8%) that reflects current market
Benefits 10.1.1. Refer note 4.6.2
assessment of the time value of money and the risks, so
Other Employee Benefits 2.81 2.97 that the amount of provision reflects the present value of 10.1.2. Interest earned on bank deposits earmarked for this fund is credited to this fund.
177.55 148.44 the expenditures expected to be required to settle the
obligation. The value of the provision is progressively 10.1.3. The above includes H 92.25 crore (P.Y. H 60.98 crore) towards TDS on interest earned on deposits made against Shifting
increased over time as the effect of discounting unwinds; and rehabilitation fund.
378 379
Corporate Overview
NOTE - 11.1 : TAX ASSETS/LIABILITIES NOTE - 12.2 : OTHER INCOME NOTE - 13.2 : CHANGES IN INVENTORIES OF FINISHED
(H in Crore) GOODS, WORK IN PROGRESS AND STOCK IN TRADE
(H in Crore)
As at As at
Particulars For the Year For the Year (H in Crore)
31-03-2024 31-03-2023
Particulars Ended 31- Ended 31- For the Year For the Year
Income Tax Assets 03-2024 03-2023 Particulars Ended 31- Ended 31-
Balance at the beginning of the year 1,328.46 1,538.05
Interest Income12.2.1 117.92 174.64 03-2024 03-2023
Recognised during the year 576.05 1,346.86
Reversal/refund during the year (645.66) (1,556.45) Dividend Income From 15,087.99 14,265.71 Change in Inventory of coal
Balance at the Closing of the year 1,258.85 1,328.46 Investment in Subsidiaries
Opening Stock of Coal 19.37 12.05
Statutory Reports
Income Tax Liabilities Dividend Income from - -
Mutual funds Closing Stock of Coal 36.71 19.37
Balance at the beginning of the year 466.96 456.14
Recognised during the year (Refer 14.1) 266.66 202.49 Income on Buyback of Shares by - - Change in Inventory of coal (17.34) (7.32)
Reversal/Adjustment during the year (218.91) (191.67) Subsidiaries TOTAL (17.34) (7.32)
Balance at the Closing of the year 514.71 466.96 Other non-operating income
Net income tax asset/(liabilities) at the end 744.14 861.50 (net of expenses directly NOTE - 13.3 : EMPLOYEE BENEFITS EXPENSES
Disclosed as: attributable to such income)
Current Apex charges - - (H in Crore)
Income Tax Assets (net) 744.14 861.50 Profit on Sale of Assets - - For the Year For the Year
744.14 861.50 Gain on Foreign Exchange - 0.01 Particulars Ended 31- Ended 31-
Transactions 03-2024 03-2023
NOTE - 11.2 : DEFERRED TAX ASSETS/LIABILITIES Gain on Sale of Mutual Fund 5.16 13.92
Salary and Wages (including 325.86 330.18
(H in Crore) Lease Rent12.2.2 3.02 2.98
Provision written back 1.40 - Allowances and Bonus etc.)13.3.1
Recognised/ Recognised in other
Balance at Liabilities written back 14.92 0.25 Contribution to Provident Fund 44.85 68.06
(reversed) in comprehensive Balance As at
Particulars the beginning Fair value changes (net) - (0.50) and Other Funds
profit and loss income during the 31-03-2024 Miscellaneous Income12.2.3 101.97 95.62 Staff welfare Expenses 29.30 23.73
of the year
during the year year Total 15,332.38 14,552.63 Total 400.01 421.97
Deferred Tax Assets: 12.2.1. Includes interest on Income Tax refund of
Total OF (A) - - - - H 16.52 crore (P.Y. H 43.94) crore.
13.3.1 Including allowances, bonus, incentives, performance
Deferred Tax Liability: -
12.2.2. For Lease rent - as lessee (Refer Note - 16 (6) (c) (ii) related pay, overtime pay, sitting fees to independent
Related to Property, Plant and Equipment and 29.94 8.25 - 38.19
Intangible assets 12.2.3. Includes Government Grants of H 1.65 Crores. directors etc.
Total OF (B) 29.94 8.25 - 38.19 13.3.2 National Coal Wages Agreement (NCWA-XI) for the Non-
NOTE - 13.1 : COST OF MATERIALS CONSUMED
Deferred Tax Asset/ (Deferred Tax Liability) (C= (29.94) (8.25) - (38.19) (H in Crore) Executives has been implemented in June 2023, and salary
A-B) For the Year For the Year is being paid at a revised rate. Arrear salary has also been
D. Remeasurement of Defined benefit Plan - - - - paid by September 2023 except for retired employees.
Particulars Ended 31- Ended 31-03-
DTL(+)/DTA(-) Provision recognized for the year ended 31.03.2023 was H
03-2024 2023
Net Deferred Tax Asset/ (Deferred Tax Liability) (29.94) (8.25) - (38.19) 32.05 crores. Refer note 9.1.2.
(E=C+D) Explosives 2.14 2.47
Timber 0.03 .05 13.3.3 Disclosures on ‘Employee Benefits’ in respect of
Disclosed as: NOTE - 12.1 : REVENUE FROM OPERATIONS (Contd..) provision made towards various employee benefits
Oil and Lubricants 1.37 1.83
(H in Crore) except those covered under actuarial valuation, are
(H in Crore) HEMM Spares 0.06 0.04
As at As at provided in Note 9.1.3.
Particulars For the Year For the Year Other Consumable Stores and 0.63 0.48
31-03-2024 31-03-2023 13.3.4 Disclosures on ‘Employee Benefits’ in respect of
Particulars Ended 31- Ended 31- Spares
Deferred Tax Liability 38.19 29.94 defined benefit plans and other long term employee
03-2024 03-2023 Total 4.23 4.87
38.19 29.94 benefit plans which are covered under acturial valuation
0.96 1.03
Evacuation Facility Charges 1.06 1.14 are disclosed in Note 16 (5).
NOTE - 13.1(a) : PURCHASE OF STOCK-IN-TRADE
NOTE - 12.1 : REVENUE FROM OPERATIONS Less: Statutory Levies 0.05 0.05 (H in Crore) NOTE - 13.4: FINANCE COSTS
(H in Crore) 1.01 1.09
Revenue from services 12.1.2
1,652.48 1,521.16 For the Year For the Year
For the Year For the Year Less: Statutory Levies 252.07 232.04 Particulars Ended 31- Ended 31- (H in Crore)
Particulars Ended 31- Ended 31- 1,400.41 1,289.12 03-2024 03-2023 For the Year For the Year
03-2024 03-2023 Other Operating Revenue 1,402.38 1,291.24
Particulars Ended 31- Ended 31-
(Net) (B) Purchase of Stock-in-Trade - 469.74
Sales 03-2024 03-2023
Revenue from Operations 1,516.38 1,950.51
Sales 152.99 753.34
Less: Statutory Levies 38.99 94.07 (A+B) Interest Expenses
Sales (Net) (A)12.1.1 114.00 659.27 12.1.1. The above includes sale of imported coal of H Nil Unwinding of discounts 2.03 1.92
Other Operating Revenue
(P.Y.H469.74 crore ). Total 2.03 1.92
Loading and additional 1.01 1.08
transportation charges 12.1.2. Revenue from services (net of taxes) includes
Less : Statutory Levies 0.05 0.05 Facilitation Charge on Import amounting to H(0.84)crores
(P.Y. H13.93 crore).
380 381
Corporate Overview
NOTE - 13.5: DEPRECIATION / AMORTIZATION / NOTE - 13.7: OTHER EXPENSES (Contd..) NOTE - 13.7: OTHER EXPENSES (Contd..)
IMPAIRMENT (H in Crore) (H in Crore) D. Provision for Liability of CSR Expenses
For the Year For the Year For the Year For the Year (H in Crore)
(H in Crore) Particulars Ended 31- Ended 31- Particulars Ended 31- Ended 31- For the Year
For the Year For the Year 03-2024 03-2023 03-2024 03-2023 Particulars Ended 31-
Other Rescue/Safety Expenses - 0.01 Protection of national 0.29 0.28 03-2024
03-2024 03-2023
Siding Maintenance Charges - 0.01 heritage, art and Opening Balance 16.85
Depreciation/Amortization/ Research and Development - 127.72 culture
Addition during the period 98.56
Impairment expenses Rural development 0.65 2.71
Statutory Reports
Property , Plant And Equipment 19.92 21.86 Environmental and Tree 0.58 0.75 Reversal during the year 100.53
projects
(Note 3.1) Plantation Expenses Administrative 0.46 0.33 Closing Balance 14.88
Intangible Assets (Note 3.4) 23.42 21.08 Corporate Social Responsibility 98.56 128.93 Expenditure and
Total 43.33 42.94 expenses13.7.1 Impact Assessment NOTE - 14.1 : TAX EXPENSE
Donations, Rewards and Grant 23.04 15.48 Total 98.56 42.04
Provisions 0.53 1.43 (H in Crore)
NOTE - 13.6 : CONTRACTUAL EXPENSES
Write off (net of past provisions) For the Year For the Year
- Gross write off 0.07 - B. CSR required to be spent and CSR Expenditure Particulars Ended 31- Ended 31-
(H in Crore)
Write off (Net of write back of 0.07 - Break-up 03-2024 03-2023
For the Year For the Year
provisions recognized earlier) (H in Crore)
Current Year 266.66 244.66
Miscellaneous expenses 50.82 26.87 For the For the
03-2024 03-2023 Earlier Years 0.38 41.12
Total 313.23 428.22 Year Year
Hiring of Plant and Equipments 46.81 Particulars Total Current Tax 267.04 285.78
60.19 Ended 31- Ended 31-
Pursuance to section 135 of the Companies Act 2013, for FY Deferred tax 8.25 5.42
Other Contractual Work 0.96 0.48 03-2024 03-2023
2023-24 an amount of H 11.30 crore (2% of the average net
Total 61.15 47.29 (a) Amount Required to be 11.30 7.10 Total 275.29 291.20
profit of the company made during the three immediately
preceding financial years - considered from the audited spent during the year
NOTE - 13.7: OTHER EXPENSES (b) Amount approved by 140.62 118.04 14.1.1 Reconciliation of Tax Expenses
financial statements of the respective years) was required to
the Board to be spent (H in Crore)
(H in Crore) be spent during 2023-24 towards CSR activities. The company
during the year For the Year For the Year
For the Year For the Year has spent H 98.56 crore for the year ended 31.03.2024.
(c) Amount spent during Particulars Ended 31- Ended 31-
Particulars Ended 31- Ended 31- the year on: 03-2024 03-2023
03-2024 03-2023 (i) Construction/ 81.58 27.85
NOTE - 13.7: OTHER EXPENSES (Contd..) Profit before tax 16042.12 15093.51
Power Expense 7.35 7.40 Acquisition of any At income tax rate of 4,037.48 3,798.73
Repairs and Maintenance 13.7.1 Notes related to CSR asset 25.168% (31.03.2023:
- Building 18.30 16.13 A. Activity wise break-up of CSR Expenses (incurred in (ii) on purposes other 16.98 14.19 25.168%)
- Plant and Equipment 0.36 0.07 Cash) : than (i) above Less: Tax on Income (Set off (3789.10) (3590.39)
- Others 1.36 1.74 (H in Crore) Total 98.56 42.04 with dividend payment)
Travelling expenses 12.67 10.98 For the Year For the Year Add: Tax on non-deductible 26.53 41.74
Training Expenses 6.81 8.69
Particulars Ended 31- Ended 31- C. Reconciliation of CSR Expenses recognised and expenses
Telephone and Internet 4.60 4.59
03-2024 03-2023 CSR Expenses spent /(Additional expenses
Advertisement and Publicity 6.55 5.89
Demurrage 0.03 - Eradicating hunger, 65.21 25.64 allowed for tax purpose)
(H in Crore)
Under Loading Charges 0.90 0.32 poverty and Adjustment for earlier 0.38 41.12
Security Expenses 16.20 12.19 malnutrition year tax
Legal Expenses 2.78 4.24 Promoting education, 26.55 9.76 Income Tax Expenses 275.29 291.20
03-2024 03-2023
Consultancy Charges 21.87 25.23 including special reported in statement of
Service Charges (CMPDI) 2.43 0.81 CSR Expenses Spent 98.56 42.04 Profit and Loss
education and
Loss on Sale/Discard/Surveyed of 0.22 0.18 employment enhancing Less: Excess carried - (86.89) Effective income tax rate : 1.72% 1.93%
Assets vocation skills forward/(Utilised) 14.1.2. Refer Note 11.2 for
Auditor's Remuneration and Gender equality 3.75 1.50 during the year component of deferred tax
Expenses and measures for Amount recognised in 98.56 128.93 assets/ (liabilities).
For Audit Fees 0.30 0.30 Statement of profit and
reducing inequalities
For Taxation Matters 0.04 0.04 loss
faced by socially and
For Other Services 0.25 0.38 14.1.2. Refer Note 11.2 for component of deferred tax assets/
economically backward
Internal and Other Audit 0.51 0.82 (liabilities).
groups
Expenses
Environmental 1.65 1.82
Lease Rent and Hiring Charges 35.03 25.22
Rates and Taxes 1.00 1.63 sustainability
Insurance 0.07 0.17
382 383
Corporate Overview
NOTE - 15.1: OTHER COMPREHENSIVE INCOME NOTE - 15.1: OTHER COMPREHENSIVE INCOME (Contd..) NOTE – 16: ADDITIONAL NOTES TO THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED
(H in Crore) (H in Crore) 31-03-2024 (Contd..)
For the Year For the Year For the Year For the Year
Standalone Financial Statements. The Company does
Particulars Ended 31- Ended 31- CONTINENT LIABILITY not expects the outcome of these proceedings to
Particulars Ended 31- Ended 31- (H in Crore)
03-2024 03-2023 03-2024 03-2023
have a material impact on its financial position. Future
Sl. cash outflows in respect of above are dependent
Items that will not be Remeasurement of defined 16.42 42.18 Particulars Ended 31- Ended 31-
No. upon the outcome of judgements/decisions.
reclassified to profit or benefit plans 03-2024 03-2023
loss15.1.1 16.42 42.18 1 Central No interest is expected in the settlement of
Remeasurement of defined (65.25) (167.60)
Statutory Reports
Total (48.83) (125.42) Government cases under contingent liabilities, except where
benefit plans Income Tax 364.22 359.52 management has an adverse view.
(65.25) (167.60)
15.1.1 Represents figures in respect of Gratuity J (28.09) crore Central Excise 4.45 4.45
Income tax relating to items Contingent Assets:- A contingent asset is a
(P.Y. J 0.19 crore) and for Post Retirement Medical Benefits 2 Sub-Total 368.67 363.97
that will not be reclassified possible asset that arises from past events and
J (37.16) crore (P.Y. J (167.79) crore). State
to profit or loss whose existence will be confirmed only by the
Government
occurrence or non-occurrence of one or more
and Local
uncertain future events not wholly within the
NOTE – 16: ADDITIONAL NOTES TO THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED Authorities
control of the entity. During the normal course of
31-03-2024 Others 6.89 6.02
business, several unresolved claims are currently
Sub-Total 6.89 6.02
1. Unrecognized items outstanding. The inflow of economic benefits, in
3 Central respect of such claims cannot be measured due to
a) Contingent Liabilities and Contingent Assets
Public Sector uncertainties that surround the related events and
I. Claims against the company not acknowledged as debt (to the extent not provided for) Enterprises circumstances.
Arbitration 18.60 -
(H in Crore) II. Guarantee
Proceedings
State Suit against the 0.15 0.15
Central
Central Government company under Term loan by two of the wholly owned subsidiary
Particulars Public Sector Others Total
Government and local litigation companies of Coal India Limited namely, Eastern
Enterprises
authorities Sub-Total 18.75 0.15 Coalfields Limited and Mahanadi Coalfields Limited
Opening balance as on 01-04-2023 363.97 6.02 0.15 601.75 971.89 to the extent of their obligations under loans
4 Others: (If any)
Addition during the year 4.70 0.87 18.60 1.02 25.19 (principal and interest) from Export Development
Miscellaneous - 602.77 601.75
Closing balance as on 31-03-2024 368.67 6.89 18.75 602.77 997.08 Corporation, Canada and Banque Nationale De
Land and Others
Paris and Natexis Banque, France respectively
Sub-Total 602.77 601.75
are guaranteed by the President of India.The
(H in Crores) Grand Total 997.08 971.89
outstanding balance as on 31-03-2024 stood at
State
Central The Company's pending litigation comprises of claim H 157.99 Crore (P.Y. H 163.73 Crore) and H 3.95 Crore
Central Government
Particulars Public Sector Others Total against the company and proceeding pending tax/ (P.Y. H 4.58 Crore) respectively.
Government and local
Enterprises statutory/Government authorities. The Company has (b) Commitments
authorities
reviewed all its pending litigations and proceedings
Opening balance as on 01-04-2022 247.64 4.00 0.15 600.64 852.43 Estimated amount of contracts remaining to be executed
and has made adequate provisions, and disclosed
Addition during the year 116.33 2.02 - 1.11 119.46 on capital account and not provided for H 25.1 crore (P.Y.H
the contingent liabilities, where applicable, in its
Closing balance as on 31-03-2023 363.97 6.02 0.15 601.75 971.89 17.28 crore) (net of capital advance of H 47.18 crore (P.Y.
H 44.23 crore)).
384 385
Corporate Overview
NOTE – 16: ADDITIONAL NOTES TO THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED NOTE – 16: ADDITIONAL NOTES TO THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED
31-03-2024 (Contd..) 31-03-2024 (Contd..)
Other Commitment: H 471.65 crore (P.Y. H 235.58 crore) iii) Post Employment Benefit Funds and others
(H in Crore)
2. Related Party informations
Sl. Principal
Particulars Country of Incorporation
a) Group Information No. activities
i) Subsidiary Companies 1 Coal India Employees Gratuity Fund Trust India
(H in Crore) 2 Coal Mines Provident Fund (CMPF) Statutory body under the control India
Statutory Reports
Sl. Principal Country of % Equity Interest of Ministry of Coal, GoI
Particulars
No. activities Incorporation 31-03-2024 31-03-2023 3 Coal India Superannuation Benefit Fund Trust Trust India
1 Eastern Coalfields Limited (ECL) Coal mining India 100% 100% 4 Contributory Post Retirement Medicare Trust India
2 Bharat Coking Coal Limited (BCCL) Coal mining India 100% 100% Scheme for Non- Executives
3 Central Coalfields Limited (CCL) Coal mining India 100% 100% 5 CIL Executive Defined Contribution Pension Trust India
Trust
4 Northern Coalfields Limited (NCL) Coal mining India 100% 100%
6 Indian Institute of Coal Management (IICM) Registered Society India
5 Western Coalfields Limited (WCL) Coal mining India 100% 100%
7 Coal India Sports Promotion Association Registered Society India
6 South Eastern Coalfields Limited (SECL) Coal mining India 100% 100%
(CISPA)
7 Mahanadi Coalfields Limited (MCL) Coal mining India 100% 100%
8 Central Mine Planning & Design Institute Consultancy India 100% 100%
Limited (CMPDIL) support in Coal
(iv) Key Managerial Personnel
and Mineral
(H in Crore)
exploration
Principal
9 Coal India Africana Limitada, Mozambique Coal mining Mozambique Quota Quota Particulars Country of Incorporation
activities
(CIAL) Capital Capital
10 CIL Solar Private Limited (CSPL) Solar Energy India 100% 100% Shri P.M. Prasad Chairman-Cum-Managing Director w.e.f. 01.07.2023
11 CIL Navikarniya Urja Limited (CNUL) Renewable India 100% 100% Shri Pramod Agrawal Chairman-Cum-Managing Director upto 30.06.2023
Energy Dr. B. Veera Reddy Director (Technical)
Shri Vinay Ranjan Director(Personnel)
ii) Joint Venture Companies Shri Mukesh Choudhary Director(Marketing)
(H in Crore)
Shri Debasish Nanda Director (Business Development)
Sl. Principal Country of % Equity Interest
Particulars Shri Mukesh Agrawal Director (Finance) & CFO w.e.f. 08.02.2024
No. activities Incorporation 31-03-2024 31-03-2023
Prof. G. Nageswara Rao Independent Director
1 International Coal Venture Private Limited Coal India 0.19% 0.19%
Dr. Arun Kumar Oraon Independent Director
(ICVL)
2 CIL NTPC Urja Private Limited (CNUPL) Energy India 50.00% 50.00% Shri Kamesh Kant Acharya Independent Director
3 Talcher Fertilizers Limited (TFL) Fertiliser India 33.33% 33.33% Shri Denesh Singh Independent Director
4 Hindustan Urvarak and Rasayan Limited Fertiliser India 33.33% 33.33% Shri Punambhai Kalabhai Makwana Independent Director
(HURL) Shri B. Rajeshchander Independent Director
5 Coal Lignite Urja Vikas Private Limited Energy India 50.00% 50.00% Shri Ghanshyam Singh Rathore Independent Director
(CLUVPL) Shri Nagaraju Maddirala Govt. Nominee Directors
Ms. Nirupama Kotru Govt. Nominee Directors
Shri S.K. Mehta CFO upto 12.02.2024
Shri B. P. Dubey Company Secretary
386 387
388

(v)
i)
i)
ii)
ii)
Sl.
Sl.
No.
No.
Note:
Total
Particulars
Particulars
31-03-2024 (Contd..)
through current account.

Amount Payable
Amount Receivable
Post-Employment Benefits
Short Term Employee Benefits
b. Related Party Transactions within Group

director is a partner, a director or member.
b. Sitting Fees to Independent Directors
Remuneration of Key Managerial Personnel
payment of H 2000 per month as per service conditions.
(vi) Balances Outstanding with Key Management Personnel

Directors, Chief Financial Officer and Company Secretary
a. Payment to Chairman cum Managing Directors, Whole Time
5.67
0.90
0.62
4.15
31-03-2024
For the Year Ended
Nil
Nil
31-03-2024
As per Ind AS 24, following are the disclosures regarding nature and amount of significant transactions
31-03-2023
Nil
Nil
(H in Crore)
5.12
0.97
0.49
3.66
31-03-2023
For the Year Ended
(H in Crore)
any other person. Nor any trade or other receivable are due from firms or private companies respectively in which any
Lease rent, Interest on Funds parked by subsidiaries and other expenditure incurred by or on behalf of other subsidiaries
(vii) No Trade or other receivables are due from directors or other officers of the company either severally or jointly with
NOTE – 16: ADDITIONAL NOTES TO THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED
Besides above, whole time Directors have been allowed use of cars for private journey up to a ceiling of 1000 KMs on
Coal India Limited has entered into transactions with its subsidiaries which include Apex charges, Rehabilitation charges,

NOTE – 16: ADDITIONAL NOTES TO THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31-03-2024 (Contd..)
i) Subsidiary Companies
Outstanding balances as on 31-03-2024 and transations for the year then ended
(H in Crore)
Outstanding
Consultancy Current Account
Apex Rehabilitation Dividend Lease Rent Balances
Name of Related Parties Charges to Balances (Payables)/
Charges Charges Received Income (Payables)/
CMPDIL Receivables
Receivables
Eastern Coalfields Limited 47.56 26.24 - - 206.27
Bharat Coking Coal Limited 41.10 23.56 - - 361.38
Central Coalfields Limited 172.10 49.73 1,023.66 - 45.46
Western Coalfields Limited 69.11 42.11 - - 291.87
South Eastern Coalfields Limited 374.74 108.36 749.55 1.80 8.76
Northern Coalfields Limited 272.30 82.58 4,195.78 - 35.84
Mahanadi Coalfields Limited 412.20 119.42 9,000.00 - (5.12)
Central Mine Planning & Design Institute Limited - - 119.00 - 11.87 (60.58) 132.35
Coal India Africana Limitada - - - - 53.83
Total 1,389.11 452.00 15,087.99 1.80 11.87 937.71 132.35
Outstanding balances as on 31-03-2023 and transations for the year then ended
(H in Crore)
Outstanding
Consultancy Current Account
Apex Rehabilitation Dividend Lease Rent Balances
Name of Related Parties Charges to Balances (Payables)/
Charges Charges Received Income (Payables)/
CMPDIL Receivables
Receivables
Eastern Coalfields Limited 35.02 21.29 - - 139.33
Bharat Coking Coal Limited 36.18 21.34 - - 395.46
Central Coalfields Limited 152.18 45.02 1,023.66 - 12.47
Western Coalfields Limited 64.28 37.30 - - 189.59
South Eastern Coalfields Limited 334.02 96.03 1,063.55 1.80 (19.07)
Northern Coalfields Limited 262.34 80.11 3,659.45 - 24.43
Mahanadi Coalfields Limited 386.52 115.63 8,425.00 - 19.73
Central Mine Planning & Design Institute Limited - - 94.05 - 0.81 (57.85) 67.27
Coal India Africana Limitada - - - - 53.83
Total 1,270.54 416.72 14,265.71 1.80 0.81 757.92 67.27
389

Corporate Overview
31-03-2024 (Contd..) 31-03-2024 (Contd..)
ii) Joint Venture Companies (b) Fair value hierarchy
Outstanding balances as on 31-03-2024 and transations for the year then ended Table below shows judgements and estimates made in determining the fair values of the financial instruments that are (a)
(H in Crore) recognized and measured at fair value and (b) measured at amortized cost and for which fair values are disclosed in the
Income from Account Balances financial statements. To provide an indication about the reliability of the inputs used in determining fair value, the company
Equity
Name of Related Parties Deputation of has classified its financial instruments into the three levels prescribed under the accounting standard.
Contribution Receivable Payable
manpower
Statutory Reports
(H in Crore)
Hindustan Urvarak and Rasayan Limited(HURL) 347.03 3.70 0.29 -
31-03-2024 31-03-2023
Talcher Fertilizer Limited(TFL) - 2.76 5.19 - Financial assets and liabilities measured at fair value
Level 1 Level 2 Level 3 Level 1 Level 2 Level 3
Total 347.03 6.46 5.48 -
Financial Assets at FVTPL
Investments :
Outstanding balances as on 31-03-2023 and transations for the year then ended Mutual Fund/ ICD - 35.29 - - 38.23 -
(H in Crore)
Income from Account Balances
Equity (H in Crore)
Name of Related Parties Deputation of
Contribution Receivable Payable Financial assets and liabilities measured at amortised cost 31-03-2024 31-03-2023
manpower
for which fair values are disclosed Level 1 Level 2 Level 3 Level 1 Level 2 Level 3
Hindustan Urvarak and Rasayan Limited(HURL) 666.54 3.56 0.66 -
Financial Assets
Talcher Fertilizer Limited(TFL) - 0.97 2.21 -
Investments:
Total 666.54 4.53 2.87 -
Preference Shares
- Equity Component - -
3 Fair Value Measurement
- Debt Component - -
(a) Financial Instruments by Category Loans 0.02 0.02
(H in Crore)
Deposits and receivable 6,262.86 6,407.16
31-03-2024 31-03-2023
Trade receivables - 3.57
Particulars AMORTISED AMORTISED
FVTPL FVTPL Cash and cash equivalents 43.25 167.09
COST COST
Other Bank Balances 1,433.45 1,007.80
Financial Assets
Financial Liabilities
Investments* :
Borrowings and Lease Liabilities - -
Preference Shares
Trade payables 78.00 65.20
- Equity Component - -
Security Deposit and Earnest money 63.04 150.36
- Debt Component - -
Other Liabilities 183.06 164.18
Mutual Fund/ ICD 35.29 - 38.23 -
Loans 0.02 0.02 A brief of each level is given below. (c) Valuation technique used in determining fair value
Deposits and receivable 6,262.86 6,407.16 Valuation techniques used to value financial instruments
Level 1: Level 1 hierarchy includes financial instruments
Trade receivables** - 3.57 include the use of quoted market prices (NAV) of
measured using quoted prices.
Cash and cash equivalents 43.25 167.09 instruments in respect of investment in Mutual Funds.
Other Bank Balances 1,433.45 1,007.80 Level 2: The fair value of financial instruments that are not
traded in an active market is determined using valuation (d) Fair value measurements using significant unobservable
techniques which maximize the use of observable market inputs
Borrowings and Lease Liabilities - -
data and rely as little as possible on entity-specific estimates. At present there are no fair value measurements using
Trade payables 78.00 65.20
If all significant inputs required to fair value an instrument significant unobservable inputs.
Security Deposit and Earnest money 63.04 150.36 are observable, the instrument is included in level 2.
Other Financial Liabilities 183.06 164.18 This includes Mutual fund which is valued using closing (e) Fair values of financial assets and liabilities measured at
Net Asset Value (NAV) as at the reporting date. amortised cost
* Investment in Equity Shares in Subsidiaries and Joint Ventures are measured at cost which stands at H 14170.94 Crore as on 31-03-2024 (H13824.44
Crore 31-03-2023) are not considered above. The carrying amounts of trade receivables, short term
Level 3: If one or more of the significant inputs is not
** Allowance for Coal Quality Variance deducted from Trade Receivable. deposits, cash and cash equivalents, trade payables are
based on observable market data, the instrument is
considered to be the same as their fair values, due to their
included in level 3. This is the case for investments,
short-term nature.
security deposits and other liabilities included in level 3.
390 391
Corporate Overview
31-03-2024 (Contd..) 31-03-2024 (Contd..)
The Company considers that the Security Deposits 4 Financial Risk Management A. Credit Risk: and expected loss rates. The Company uses judgment
does not include a significant financing component. in making these assumptions and selecting the
Financial risk management objectives and policies Credit risk management:
The security deposits coincide with the company’s inputs to the impairment calculation, based on the
performance and the contract requires amounts to The Company’s principal financial liabilities comprise trade Receivables arise mainly out of sale of Coal. Sale of Company’s past history, existing market conditions as
be retained for reasons other than the provision of and other payables. The main purpose of these financial Coal is broadly categorized as sale through fuel supply well as forward looking estimates at the end of each
finance. The withholding of a specified percentage liabilities is to finance the Company’s operations and to provide agreements (FSAs) and e-auction. reporting period.
Statutory Reports
of each milestone payment is intended to protect the guarantees to support its operations. The Company’s principal Macro - economic information (such as regulatory
interest of the company, from the contractor failing to financial assets include loans, trade and other receivables, changes) is incorporated as part of the fuel supply B. Liquidity Risk
adequately complete its obligations under the contract. and cash and cash equivalents that is derived directly from agreements (FSAs) and e-auction terms Prudent liquidity risk management implies maintaining
Accordingly, transaction cost of Security deposit is its operations. sufficient cash and marketable securities and the
Fuel Supply Agreements (FSAs)
considered as fair value at initial recognition and availability of funding through an adequate amount of
subsequently measured at amortised cost. The Company is exposed to market risk, credit risk and As contemplated in and in accordance with the terms of committed credit facilities to meet obligations when due.
liquidity risk. The Company’s senior management oversees the New Coal Distribution Policy (NCDP), the company Due to the dynamic nature of the underlying businesses,
Significant estimates: The fair value of financial the management of these risks. The Company’s senior enters into legally enforceable FSAs with customers Company treasury maintains flexibility in funding by
instruments that are not traded in an active market is management is supported by a risk committee that advises, or with State Nominated Agencies that in turn enters maintaining availability under committed credit lines.
determined using valuation techniques. The Company inter alia, on financial risks and the appropriate financial risk into appropriate distribution arrangements with end
uses its judgment to select a method and makes suitable governance framework for the Company. The risk committee customers. Our FSAs can be broadly categorized into: Management monitors forecasts of the Company’s
assumptions at the end of each reporting period. provides assurance to the Board of Directors that the Company’s liquidity position (comprising the undrawn borrowing
financial risk activities are governed by appropriate policies and FSAs with customers in the power utilities facilities) and cash and cash equivalents on the basis of
procedures and that financial risks are identified, measured and sector, including State power utilities, private expected cash flows. This is generally carried out at local
managed in accordance with the Company’s policies and risk power utilities (“PPUs”) and independent power level in accordance with practice and limits set by the
objectives. The Board of Directors reviews and agrees policies producers (“IPPs”); Company. The bank borrowings of Coal India Limited
for managing each of these risks, which are summarized below. FSAs with customers in non-power industries has been secured by creating charge against stock of
(including captive power plants (“CPPs”)); and coal , stores and spare parts and book debts of CIL and
its Subsidiary Companies within consortium of banks.
FSAs with State Nominated Agencies.
The total working capital credit limit available to CIL
This note explains the sources of risk which the entity is exposed to and how the entity manages the risk in the financial statements.
E-Auction Scheme is H 430.00 Crore, of which fund based limit is H 140.00
(H in Crore) Crore and non-fund based limit is H 290.00 crore. Further,
The E-Auction scheme of coal has been introduced to
Risk Exposure arising from Measurement Management H 1000.00 crore was set up as Fund based limit and H
provide access to coal for customers who were not able
Credit Risk Cash and Cash Ageing analysis/ Department of Public enterprises (DPE 5730.00 crore(P.Y.H 5190.00 Crore) was set up as non-
to source their coal requirement through the available
equivalents, trade Credit rating guidelines), diversification of bank fund based limit outside consortium in order to facilitate
institutional mechanisms under the NCDP for various
receivables financial asset deposits credit limits and other securities import of HEMM. Coal India Limited is contingently
reasons, for example, due to a less than full allocation of
measured at amortised liable to the extent such facility is actually utilised by the
their normative requirement under NCDP, seasonality of
cost Subsidiary Companies.
their coal requirement and limited requirement of coal
Liquidity Risk Borrowings and other Periodic cash flows Availability of committed credit lines and
that does not warrant a long-term linkage. The quantity of The Company has been sanctioned a term loan of
liabilities borrowing facilities
coal to be offered under E-Auction is reviewed from time H 364.30 crores from HDFC bank Limited secured by
Market Risk-foreign exchange Future commercial Cash flow forecast Regular watch and review by senior
to time by the Ministry of Coal. creating exclusive charge on plant and equipment and
transactions, recognised sensitivity analysis management and audit committee.
movable assets of the 100 MW Solar Project of the
financial assets Credit risk arises when a counterparty defaults on Company in Gujarat.
and liabilities not contractual obligations resulting in financial loss
denominated in INR to the company. C. Market risk
Market Risk-interest rate Cash and Cash Cash flow forecast Department of Public Enterprises (DPE
a) Foreign currency risk
equivalents, Bank sensitivity analysis guidelines), Regular watch and review by Provision for expected credit loss: Company provides
deposits and mutual senior management and audit committee. for expected credit risk loss for doubtful/ credit Foreign currency risk arises from future commercial
funds impaired assets, by lifetime expected credit losses transactions and recognised assets or liabilities
(Simplified approach). denominated in a currency that is not the
The Company risk management is carried out by the board of directors as per DPE guidelines issued by Government of India. The Refer Note- 4.3, Trade Receivables Company’s functional currency(INR).The Company
board provides written principles for overall risk management as well as policies covering investment of excess liquidity. is exposed to foreign exchange risk arising from
Significant estimates and judgments for Impairment of foreign currency transactions. Foreign exchange
financial assets risk in respect of foreign operation is considered to
The impairment provisions for financial assets disclosed be insignificant. The Company also imports and risk
above are based on assumptions about risk of default is managed by regular follow up. Company has a
392 393
Corporate Overview
31-03-2024 (Contd..) 31-03-2024 (Contd..)
policy which is implemented when foreign currency LIC also provides an insurance coverage (Life Cover the entire life of Divyang child would be H 2.5 lakh. HPL is not permitted for encashment during the
risk becomes significant. Sum Assured- “LCSA”) in case of death of a member The Scheme is funded through trust for group, period of service. On superannuation, EL and HPL
during service, to compensate the shortfall in maintained with Life Insurance Corporation of India together is considered for encashment subject to
b) Cash flow and fair value interest rate risk gratuity amount from estimated payable at normal . The liability for the scheme is recognised based on the overall limit of 300 days without commutation of
retirement date based on last drawn salary subject actuarial valuation done at each reporting date. HPL. In case of non-executives, Leave encashment
The Company’s main interest rate risk arises from
to ceiling of maximum of H 20 lacs. is governed by the National Coal Wage Agreement
bank deposits with change in interest rate, exposes
(II) Defined Contribution Plans
Statutory Reports
the Company to cash flow interest rate risk. Company b) Post-Retirement Medical Benefit – Executive (NCWA) and at present the workmen are entitled
policy is to maintain most of its deposits at fixed rate. (CPRMSE) a) Provident Fund and Pension to get encashment of earned leave at the rate of
Company has post-retirement medical benefit 15 days per year and on discontinuation of service
Company pays fixed contribution towards Provident
Company manages the risk using guidelines issued due to death, retirement, superannuation and VRS,
scheme known as Contributory Post Retirement Fund and Pension Fund at pre-determined rates
by Department of Public Enterprises (DPE) on Medicare Scheme for Executive of CIL and its the balance leave or 150 days whichever is less, is
based on a fixed percentage of the eligible
diversification of bank deposits credit limits and Subsidiaries (CPRMSE), to provide Medicare to allowed for encashment. Therefore, the liabilities for
employee's salary i.e. 12% and 7% of Basic salary
other securities. the executives, their spouses and fully financially earned leave are expected to be settled during the
and Variable Dearness Allowance towards Provident
dependent Divyang child(ren) suffering from not service as well as after the retirement of employee.
Capital management Fund and Pension Fund respectively. These funds
less than 40% of any disability in Company hospital/ They are therefore measured as the present value
empanelled hospitals or outpatient/Domiciliary are governed by a separate statutory body under
The company being a government entity manages of expected future payments to be made in respect
the control of Ministry of Coal, Government of India,
its capital as per the guidelines of Department of only in India subject to ceiling limit, on account of
of services provided by employees up to the end
retirement on attaining the age of superannuation or named Coal Mines Provident Fund Organisation
Investment and Public Asset Management under of the reporting period using the projected unit
are separated by the Company on medical ground (CMPFO).The contribution towards the fund for
Ministry of Finance. credit method. The benefits are discounted using
or retirement under Voluntary Retirement Scheme the period is recognized in the Statement of
under common coal cadre or Voluntary Retirement the market yields at the end of the reporting period
Capital Structure of the company is as follows: Profit and Loss.
Scheme formulated and made applicable from that have terms approximating to the terms of
(H in Crore)
time to time. Membership is not extended to the b) CIL Executive Defined Contribution Pension the related obligation. The scheme is funded by
31-03- 31-03-
Particulars executives who resigns from the services of the Scheme (NPS) qualifying insurance policies from Life Insurance
2024 2023
CIL and its subsidiaries. The maximum amount Corporation of India. The liability under the scheme
Equity Share capital 6162.73 6162.73 The company provides a post-employment
reimbursable during the entire life for the retired is borne by the Company as per actuarial valuation
Long term debt - - executives, spouse and dependent Divyang child contributory pension scheme to the executives
at each reporting date.
(ren) taken together jointly or severally is Rs 25 of the Company known as “CIL Executive Defined
lakhs except for specified diseases with no upper Contribution Pension Scheme-2007” (NPS). b) Life Cover Scheme (LCS)
5 Employee Benefits: Recognition and Measurement limit. The Scheme is funded through trust for group, The Scheme is funded through trust for group,
(Ind AS-19) As a part of the social security scheme, the Group
maintained with Life Insurance Corporation of India maintained with Life Insurance Corporation of India.
(I) Defined Benefit Plans . The liability for the scheme is recognised based on has a Life Cover Scheme known as “Life Cover
The obligation of the Company is to contribute to
actuarial valuation done at each reporting date. Scheme of Coal India Limited” (LCS) which covers all
a) Gratuity the trust to the extent of amount not exceeding
the executive and non-executive cadre employees.
30% of basic pay and dearness allowance less
The Company provides for gratuity, a post- C) Post-Retirement Medical Benefit – Non Executive In case of death in service, an amount of Rs 1,56,250
employer’s contribution towards provident fund,
employment defined benefit plan (""the Gratuity (CPRMS -NE) is paid to the nominees under the scheme w.e.f
Scheme"") covering the eligible employees. gratuity, post-retirement medical benefits -Executive
As a part of social security scheme under wage 01.10.2017. The expected cost of the benefits is
Gratuity payment is made as per policy of the i.e. CPRMSE or any other retirement benefits. The
agreement, Company is providing Contributory recognized when an event occurs that causes the
comapny subject to maximum of H 20 lacs at the current employer contribution of 6.99% of basic and
Post-Retirement Medicare Scheme for non- benefit payable under the scheme.
time of separation from the company considering Dearness Allowance is being charged to statement
the provisions of the Payment of Gratuity Act 1972 executives (CPRMSE-NE) to provide medical care to of profit and loss. c) Settlement Allowances
as amended. The liability or asset recognised in the the non-executives and their spouses and Divyang
balance sheet in respect of the Gratuity Scheme is Child(ren) in Company hospital/empanelled (III) Other Long Term Employee Benefits As a part of wage agreement, a lump sum amount
the present value of the defined benefit obligation hospitals or outpatient/Domiciliary only in India of Rs 12000/- is paid to all the non-executive
a) Leave encashment
at the end of the reporting year less the fair value subject to ceiling limit, on account of retirement cadre employees governed under NCWA on their
The company provides benefit of total Earned Leave superannuation on or after 31.10.2010 as settling-in
of plan assets. The defined benefit obligation is on attaining the age of superannuation or are
calculated at each reporting date by actuaries using (EL) of 30 days and Half Paid Leave (HPL) of 20 days allowance. The liability under the scheme is borne
separated by the Company on medical ground or
the projected unit credit method. Re-measurement to the executives of the company, accrued and by the Company as per actuarial valuation at each
retirement under Voluntary Retirement Scheme
gains and losses arising from experience credited proportionately on half yearly basis on the reporting date.
formulated and made applicable from time to time
adjustments and changes in actuarial assumptions first day of January and July of every year. During
or resigns from the company at the age of 57 Years
are recognised in the year in which they occur, the service, 75% EL credited balance is one time d) Group Personal Accident Insurance (GPAIS)
or above or on death to the spouse and Divyang
directly in other comprehensive income (OCI). encashable in each calendar year subject to ceiling Coal India Limited (CIL) has taken group insurance
Child(ren). The maximum amount reimbursable
The Gratuity Scheme is funded through trust of maximum 60 days EL encashment. Accumulated scheme from United India Insurance Company
during the entire life for the retired non-executives
maintained with Life Insurance Corporation of India.
and spouse taken together jointly or severally is Rs
8 lakhs except for specified diseases with no upper
limit. The maximum amount reimbursable during
394 395
Corporate Overview
31-03-2024 (Contd..) NOTE – 16: ADDITIONAL NOTES TO THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED
31-03-2024 (Contd..)
Limited to cover the executives of the CIL Group in case of death or permanent total disablement .The
against personal accident known as “Coal India expected cost of the benefits is recognised when Disclosure as per Actuary’s Certificate (H in Crore)
Executives Group Personal Accident Insurance an event occurs that causes the benefit payable The disclosures as per actuary’s certificate for Other For the Year For the Year
Scheme” (GPAIS). GPAIS covers all types of accident under the scheme. employee benefits for Gratuity (funded) and Leave B Comprehensive Ended 31- Ended 31-
on 24 hour basis worldwide. Premium for the Encashment (funded) are given below: - Income ( OCI ) 03-2024 03-2023
scheme is borne by the CIL. Funding status of defined benefit plans
4 Return on plan (1.98) 0.67
and other long term employee benefits ACTUARIAL VALUATION OF GRATUITY AS AT
Statutory Reports
assets (greater)/
e) Leave Travel Concession (LTC) plans are as under: 31-03-2024
less than discount
As a part of wage agreement, Non-executive (i) Funded Disclosure of Defined Benefit Cost for the rate
employees are entitled to travel assistance for Year ending 31-03-2024 5 Actuarial 28.09 (0.19)
Gratuity
visiting their home town and for “Bharat Bhraman” (gains)/ losses
once in a block of 4 years. A lump sum amount Leave Encashment (H in Crore)
recognized in
of Rs 10000/- and Rs 15000/- is paid for visiting Post-Retirement Medical Benefit – For the Year For the Year
OCI
Home town and “Bharat Bhraman”, respectively. Executive (CPRMSE) A Profit and Loss Ended 31- Ended 31-
The liability for the scheme is recognised based on 03-2024 03-2023 (H in Crore)
Post-Retirement Medical Benefit – Non
actuarial valuation at each reporting date. Executive (CPRMS -NE) 1 Current service cost 0.81 1.61 For the Year For the Year
Defined Benefit
2 Past service cost - 0.20 - C Ended 31- Ended 31-
f) Workmen's Compensation Benefits in Mine (ii) Unfunded Cost
plan amendments 03-2024 03-2023
Accident Life Cover Scheme 3 Curtailment cost / - - 1 Service cost 1.01 1.61
As a part of social security scheme under wage Settlement Allowance (credit) 2 Net interest on (6.35) (4.69)
agreement, the company provide the benefits 4 Settlement cost / - -
Group Personal Accident Insurance net def
admissible under The Employee’s Compensation (credit) 3 Actuarial (gains)/ 28.09 (0.19)
Act, 1923. An amount of Rs 15 lakhs is paid to Leave Travel Concession 5 Service cost 1.01 1.61 loss
the next of kin of an employee in case of a fatal Compensation to dependent on Mine 6 Net interest on net (6.35) (4.69) 4 Immediate - -
mine accident w.e.f 07.11.2019. In addition, w.e.f Accident Benefits defined benefit recognition
01.06.2023 an exgratia amount of H 90,000/- is paid liability / (asset) 5 Defined Benefit 22.75 (3.27)
7 Immediate - - Cost
recognition of
Acturial Provisions H 583.43 crores as on 31-03-2024 based on valuation made by the Actuary, details of which are (gains)/losses – (H in Crore)
mentioned below: other long term For the Year For the Year
(H in Crores) employee benefit D Assumptions Ended 31- Ended 31-
Opening Incremental Opening Incremental Closing 8 Cost recognised (5.34) (3.08) 03-2024 03-2023
Actuarial Liability/ Actuarial Liability/ Actuarial in Profit and loss
1 Discount Rate 7.00% 7.30%
Particulars provisions (adjustment) provisions (adjustment) provisions
2 Rate of salary Executives: Executives:
as on during the as on during the as on
increase 9%; 9%;
01-04-2022 year 01-04-2023 year 31-03-2024 (H in Crore) Non Non
Gratuity 166.71 (21.98) 144.73 (10.70) 134.03 Other For the Year For the Year Executives: Executives:
Leave 75.94 (2.52) 73.42 5.52 78.94 B Comprehensive Ended 31- Ended 31- 6.25% 6.25%
Settlement Allowance 3.22 (0.32) 2.90 (0.18) 2.72 Income ( OCI ) 03-2024 03-2023 3 Withdrawal Rate 0.30% 0.30%
Leave Travel Concession 0.95 (0.03) 0.92 (0.06) 0.86
1 Actuarial (gain)/ 27.84 3.09 4 Mortality Rate Indian Indian
Post Retired Medical Benefits 199.86 147.64 347.50 19.38 366.88
loss due to DBO Assured Assured
Total 446.68 122.79 569.47 13.96 583.43
experience Lives Lives
2 Actuarial (gain)/ 2.23 (3.95) Mortality Mortality
loss due to DBO (2006-08) (2006-08)
assumption Ultimate Ultimate
changes
3 Actuarial (gain)/ 30.07 (0.86)
loss arising
during period
396 397
Corporate Overview
31-03-2024 (Contd..) 31-03-2024 (Contd..)
Specimen Mortality rates (H in Crore) (H in Crore)
(H in Crores) For the Year For the Year Expected benefit payments for
Age Rates Age Rates (H in Crore) Change in Fair E Percentage
B Ended 31- Ended 31- the year ending
Reconciliation For the Year For the Year Value of Assets
20 0.000888 45 0.002874 03-2024 03-2023 Government of India Securities 0%
25 0.000984 50 0.004946 B of Net Balance Ended 31- Ended 31-
1 Fair value of 231.78 220.75 (Central and State)
30 0.001056 55 0.007888 Sheet Position 03-2024 03-2023 High quality corporate bonds 0%
assets at end of
Statutory Reports
35 0.001282 60 0.011534 9 Cost of - - (including Public Sector Bonds)
prior period
40 0.001803 65 0.017009 termination Equity shares of listed 0%
2 Acquisition - -
benefits adjustment companies
Net Balance Sheet position as at 31-03-2024 Property 0%
10 Net defined 64.30 87.05 3 Interest income 15.08 14.91
benefit asset/ Cash (including Special 0%
(H in Crore) on plan assets
(liability) at Deposits)
Development For the Year For the Year 4 Employer - 29.74
Schemes of insurance - 100%
A of Net Balance Ended 31- Ended 31- end of current contributions
conventional products
Sheet Position 03-2024 03-2023 period 5 Return on plan 1.98 (0.67) Schemes of insurance - ULIP 0%
1 Defined benefit (134.02) (144.73) assets greater/ products
(lesser) than
obligation (DBO) Other 0%
Changes in Benefit Obligations and Assets
2 Fair value of plan 198.33 231.78 discount rate Total 100%
over the Year ending 31-03-2024 6 Benefits paid (50.51) (32.95)
assets (FVA)
3 Funded status 64.30 87.05 (H in Crore) 7 Fair Value of 198.33 231.78
[surplus/ Reconciliation For the Year For the Year assets at the (H in Crore)
(deficit)] A of Net Balance Ended 31- Ended 31- end of current Current and Non
4 Effect of Asset - - Sheet Position 03-2024 03-2023 period F Current Liability 31-03-2024
ceiling 1 DBO at end of 144.73 166.72 Breakup
5 Net defined 64.30 87.05 prior period Additional Disclosure Information
1 Current Liability 17.26
benefit asset/ 2 Current service 0.81 1.61 (H in Crore) 2 Non Current Liability 116.77
(liability) cost Expected benefit
For the Year Ended 3 Liability as at 31 March 134.03
3 Interest cost on 8.72 10.22 A payments for the year
(H in Crore) 31-03-2023 2024
the DBO ending
Reconciliation For the Year For the Year
4 Curtailment - - Sensitivity Analysis
B of Net Balance Ended 31- Ended 31- 1 March 31, 2025 17.85
(credit)/ cost
Sheet Position 03-2024 03-2023 2 March 31, 2026 19.89 (H in Crore)
5 Settlement - -
1 Net defined 87.05 54.03 (credit)/ cost 3 March 31, 2027 15.58 DBO on base assumptions as at 134.03
benefit asset/ 6 Past service cost - 0.20 - 4 March 31, 2028 16.91 31 March 2024
(liability) at end of plan amendments 5 March 31, 2029 15.45 A Discount Rate
prior period 7 Acquisitions - - Discount Rate as at 31 March 7.00%
6 March 31, 2030 to 62.71
2 Service cost (1.01) (1.61) (credit)/ cost 2024
March 31, 2034 1 Effect on DBO due to 0.5% (3.68)
3 Net interest on net 6.35 4.69 8 Actuarial (gain)/ 27.84 3.09 7 Beyond 10 years 82.66 increase in Discount Rate
defined benefit loss - experience
Percentage Impact -3%
liability/ (asset) 9 Actuarial - - (H in Crore) 2 Effect on DBO due to 0.5% 3.92
4 Amount (28.09) 0.19 (gain)/loss -
B Expected employer 0.85 decrease in Discount Rate
recognised in OCI demographic Percentage Impact 3%
contributions for the
5 Employer - 29.75 assumptions B Salary Escalation Rate
period ending 31 March
contributions 10 Actuarial (gain)/ 2.23 (3.95) Salary Escalation Rate as at 31 Executives:
2025
6 Benefit paid - - loss - financial March 2024 9%;
C Weighted average 6 Years
directly by the assumptions Non
duration of defined
Company 11 Benefits paid - - Executives:
benefit obligation
7 Acquisitions - - directly by the 6.25%
D Accrued Benefit 121.36
credit/ (cost) Company 1 Effect on DBO due to 0.5% 0.37
Obligation at 31 March
8 Divestitures - - 12 Benefits paid from (50.51) (32.95) increase in Salary Escalation
2024 Percentage Impact 0%
plan assets
13 DBO at end of 134.02 144.74 2 Effect on DBO due to 0.5% (0.41)
current period decrease in Salary Escalation
Percentage Impact 0%
398 399
Corporate Overview
31-03-2024 (Contd..) 31-03-2024 (Contd..)
ACTUARIAL VALUATION OF LEAVE BENEFIT (H in Crore) (H in Crore) (H in Crore)
AS AT 31-03-2024 For the Year For the Year Reconciliation For the Year For the Year Change in For the Year For the Year
Disclosure of Defined Benefit Cost for the Year C Assumptions Ended 31- Ended 31- B of Net Balance Ended 31- Ended 31- A Defined Benefit Ended 31- Ended 31-
ending 31-03-2024 03-2024 03-2023 Sheet Position 03-2024 03-2023 Obligation (DBO) 03-2024 03-2023
1 Discount Rate 7.00% 7.30% 1 Net defined 11.80 3.86 6 Past service cost - 2.27 -
(H in Crore)
For the Year For the Year 2 Rate of salary Executives: Executives: benefit asset/ plan amendments
Statutory Reports
A Profit and Loss Ended 31- Ended 31- increase 9%; 9%; (liability) at end of 7 Acquisitions - -
03-2024 03-2023 Non Non prior period (credit)/ cost
Executives: Executives: 2 Service cost (11.99) (9.74) 8 Actuarial (gain)/ 1.53 1.91
1 Current service 9.71 9.74
6.25% 6.25% 3 Net interest 1.55 0.78 loss - experience
cost
3 Withdrawal Rate 0.30% 0.30% on net defined 9 Actuarial - -
2 Past service cost - 2.27 -
4 Mortality Rate Indian Indian benefit liability/ (gain)/loss -
plan amendments
Assured Assured (asset) demographic
3 Curtailment cost / - -
Lives Lives 4 Actuarial (losses)/ (8.28) 1.67 assumptions
(credit)
Mortality Mortality gains 10 Actuarial (gain)/ 2.08 (3.23)
4 Settlement cost / - -
loss - financial
(credit) (2006-08) (2006-08) 5 Employer 18.77 15.23
Ultimate Ultimate contributions assumptions
5 Service cost 11.99 9.74
6 Benefit paid - 11 Benefits paid - -
6 Net interest (1.55) (0.78)
directly by the directly by the
on net defined Specimen Mortality rates
Company Company
benefit liability / 12 Benefits paid from (14.89) (15.57)
(H in Crores) 7 Acquisitions -
(asset) plan assets
Age Rates Age Rates credit/ (cost)
7 Immediate 8.28 (1.67) 13 DBO at end of 78.95 73.42
20 0.000888 45 0.002874 8 Divestitures -
recognition of current period
(gains)/losses 25 0.000984 50 0.004946 9 Cost of -
30 0.001056 55 0.007888 termination
– other long
35 0.001282 60 0.011534 benefits
term employee
40 0.001803 65 0.017009 10 Net defined 11.85 11.80 (H in Crore)
benefit
8 Cost recognised 18.72 7.29 benefit asset/ Change in For the Year For the Year
in Profit and Net Balance Sheet position as at 31-03-2024 (liability) at end A Defined Benefit Ended 31- Ended 31-
Loss (H in Crore) of current period Obligation (DBO) 03-2024 03-2023
Development For the Year For the Year 1 Fair value of 85.23 79.80
A of Net Balance Ended 31- Ended 31- assets at end of
(H in Crore) Sheet Position 03-2024 03-2023 Changes in Benefit Obligations and Assets over
prior period
For the Year For the Year the Year ending 31-03-2024
Defined Benefit 1 Defined benefit (78.94) (73.42) 2 Acquisition - -
B Ended 31- Ended 31- obligation (DBO) (H in Crore) adjustment
Cost
03-2024 03-2023 2 Fair value of plan 90.79 85.23 Change in For the Year For the Year 3 Interest income on 6.36 5.41
1 Service cost 11.99 9.74 assets (FVA) A Defined Benefit Ended 31- Ended 31- plan assets
2 Net interest on (1.55) (0.78) 3 Funded status 11.85 11.81 Obligation (DBO) 03-2024 03-2023 4 Employer 18.77 15.24
net def [surplus/ 1 DBO at end of 73.43 75.94 contributions
3 Actuarial (gains)/ - - (deficit)] prior period 5 Return on plan (4.67) 0.35
lose 4 Effect of Asset - - 2 Current service 9.71 9.74 assets greater/
4 Immediate 8.28 (1.67) ceiling cost (lesser) than
recognition 5 Net defined 11.85 11.81 3 Interest cost on 4.82 4.63 discount rate
5 Defined Benefit 18.72 7.29 benefit asset/ the DBO 6 Benefits paid (14.89) (15.57)
Cost (liability) 4 Curtailment - - 7 Fair Value of 90.80 85.23
(credit)/ cost assets at the
5 Settlement - - end of current
(credit)/ cost period
400 401
Corporate Overview
31-03-2024 (Contd..) 31-03-2024 (Contd..)
Additional Disclosure Information ACTUARIAL VALUATION OF POST RETIREMENT (H in Crore)
MEDICAL BENEFIT AS AT 31-03-2024 Other For the Year For the Year
Expected benefit payments Current and Non Current Disclosure of Defined Benefit Cost for the Year C Comprehensive Ended 31- Ended 31-
A F 31-03-2024
for the year ending Liability Breakup ending 31-03-2024 Income ( OCI ) 03-2024 03-2023
1 March 31, 2025 8.41 1 Current Liability 8.13 (H in Crore) 1 Service cost 0.90 1.16
2 Net interest on 11.05 6.56
2 March 31, 2026 9.38 2 Non Current Liability 70.81 For the Year For the Year
Statutory Reports
Profit & Loss net def
3 March 31, 2027 7.43 3 Liability as at 78.94 A Ended 31- Ended 31-
(Profit and Loss) 3 Actuarial (gains)/ 37.15 167.79
4 March 31, 2028 8.20 31 March 2024 03-2024 03-2023
lose
5 March 31, 2029 6.98 1 Current service 0.90 1.17 4 Immediate - -
cost recognition
6 March 31, 2030 to March 31, 31.19
Sensitivity Analysis 2 Past service cost - - - 5 Defined Benefit 49.10 175.51
2034
(H in Crore) plan amendments Cost
7 Beyond 10 years 119.38
3 Curtailment cost / - -
DBO on base 78.94
(credit)
assumptions as at 31 4 Settlement cost - -
March 2024 / (credit) (H in Crore)
(H in Crore)
A Discount Rate 5 Service cost 0.90 1.17 For the Year For the Year
B Expected employer 10.31 D Assumptions Ended Ended
Discount Rate as at 31 7.00% 6 Net interest 11.05 6.56
contributions for the period 31-03-2024 31-03-2023
March 2024 on net defined
ending 1 Discount Rate 7.00% 7.30%
1 Effect on DBO due to (3.40) benefit liability /
31 March 2025 2 Medical 0.00% 0.00%
0.5% increase in Discount (asset)
C Weighted average duration 9 Years 7 Immediate - - Inflation rate
Rate
of defined benefit obligation 3 Withdrawal 0.30% 0.30%
Percentage Impact -4% recognition of
D Accrued Benefit Obligation 45.45 Rate
2 Effect on DBO due 3.72 (gains)/losses – 4 Mortality Rate - Indian Assured Indian Assured
at 31 March 2023 other long term
to 0.5% decrease in Inservice Lives Mortality Lives Mortality
Discount Rate employee benefit (2006-08) (2006-08)
8 Cost recognised 11.95 7.73 Ultimate Ultimate
(H in Crore) in Profit and 5 Mortality Rate - Indian Assured Indian Assured
Plan Asset Information as at B Salary Escalation Rate Post retirement Lives Mortality Lives Mortality
E Percentage
Loss
31 March 2024 Salary Escalation Rate as Executives: 9%; (2012-15) (2012-15)
at 31 March 2024 Non Executives: Ultimate Ultimate
Government of India Securities 0% 6 Average Executive Executive
6.25%
(Central and State) Medical Cost Employees: Employees:
1 Effect on DBO due to 3.65 (H in Crore) (H) Domiciliary Domiciliary
High quality corporate bonds 0%
0.5% increase in Salary Other For the Year For the Year Benefit - INR Benefit - INR
(including Public Sector
Escalation B Comprehensive Ended 31- Ended 31- 36,000 p.a. 36,000 p.a.
Bonds)
Percentage Impact 5% Income ( OCI ) 03-2024 03-2023 Hospitalisation Hospitalisation
Equity shares of listed 0% Benefit - INR Benefit - INR
companies 2 Effect on DBO due to (3.37) 1 Actuarial (gain)/ 35.74 192.55 35,000 p.a. 35,000 p.a.
Property 0% 0.5% decrease in Salary loss due to DBO Non Executive Non Executive
Escalation experience Employees: Employees:
Cash (including Special 0%
Percentage Impact -4% 2 Actuarial (gain)/ 8.72 (14.55) Domiciliary Domiciliary
Deposits) Benefit+ Benefit+
Schemes of insurance - 100% loss due to DBO
Hospitalisation Hospitalisation
conventional products assumption
Benefit Benefit
Schemes of insurance - ULIP 0% changes combined - combined -
3 Actuarial (gain)/ 44.46 178.00 INR 18,000 p.a. INR 18,000 p.a."
products
loss arising 7 Spouse Age Spouse is 5 years Spouse is 5 years
Other 0%
during period Difference younger than younger than
Total 100% 4 Return on plan (7.31) (10.20) Member Member
assets (greater)/
less than discount
rate
5 Actuarial 37.15 167.80
(gains)/ losses
recognized in
OCI
402 403
Corporate Overview
31-03-2024 (Contd..) 31-03-2024 (Contd..)
Specimen Mortality Rates: Indian Assured Lives (H in Crore) (H in Crore) (H in Crore)
Mortality (2006-08) Ultimate table Reconciliation For the Year For the Year Change in For the Year For the Year B Weighted average duration of 9 Years
(H in Crores) B of Net Balance Ended 31- Ended 31- A Defined Benefit Ended 31- Ended 31- defined benefit obligation
Age Rates Age Rates Sheet Position 03-2024 03-2023 Obligation (DBO) 03-2024 03-2023 C Accrued Benefit Obligation at 366.89
20 0.000888 45 0.002874 4 Amount (37.16) (16.78) 10 Actuarial (gain)/ 8.72 (14.55) 31 March 2024
25 0.000984 50 0.004946 recognised in OCI loss - financial
Statutory Reports
30 0.001056 55 0.007888 5 Employer 51.37 19.05 assumptions Sensitivity Analysis
35 0.001282 60 0.011534 contributions 11 Benefits paid - - (H in Crore)
40 0.001803 65 0.017009 6 Benefit paid - directly by the DBO on base assumptions as at 366.89
directly by the Company 31 March 2024
Specimen Mortality Rates: Indian Individual Company 12 Benefits paid from (49.53) (43.64) A Discount Rate
Annuitant’s Mortality Table (2012-15) 7 Acquisitions - plan assets Discount Rate as at 31 March 7.00%
credit/ (cost) 13 DBO at end of 366.88 347.49
(H in Crores) 2024
8 Divestitures - current period
Age Rates 1 Effect on DBO due to 0.5% (14.33)
9 Cost of - increase in Discount Rate
60 0.006349 termination (H in Crore)
Percentage Impact -4%
65 0.01007 benefits For the Year For the Year
70 0.016393 Change in Fair 2 Effect on DBO due to 0.5% 15.44
10 Net defined (174.76) (177.01) B Ended 31- Ended 31-
75 0.027379 Value of Assets decrease in Discount Rate
benefit asset/ 03-2024 03-2023
80 0.04673 Percentage Impact 4%
(liability) at 1 Fair value of 170.48 8.33
end of current assets at end of
Net Balance Sheet position as at 31-03-2024 period 6 Other Information
prior period
2 Acquisition - - (a) Authorised Preference Share capital
(H in Crore)
adjustment (H in Crore)
For the Year For the Year Changes in Benefit Obligations and Assets
Profit & Loss 3 Interest income on 12.51 5.54 As at As at
A Ended 31- Ended 31- over the Year ending 31-03-2024 Particulars
(Profit and Loss) plan assets 31-03-2024 31-03-2023
03-2024 03-2023
4 Employer 51.37 190.05
1 Defined benefit (366.89) (347.49) (H in Crore) 90,41,800 Non-Cumulative 904.18 904.18
contributions
obligation (DBO) Change in For the Year For the Year
5 Return on plan 7.31 10.20 10% Redeemable
2 Fair value of plan 192.13 17.05 A Defined Benefit Ended 31- Ended 31-
assets greater/ Preference Shares of H 10/-
assets (FVA) Obligation (DBO) 03-2024 03-2023
(lesser) than each
3 Funded status (174.76) (177.02) 1 DBO at end of 347.49 199.86 discount rate (P.Y. 90,41,800 Non-
[surplus/ prior period 6 Benefits paid (49.53) (43.64) Cumulative 10%
(deficit)] 2 Current service 0.90 1.17 Redeemable Preference
7 Fair Value of 192.14 170.48
4 Effect of Asset - - cost Shares of H 10/- each)
assets at the
ceiling 3 Interest cost on 23.56 12.10 end of current (b) Earnings per share
5 Net defined (174.76) (177.02) the DBO period (H in Crore)
benefit asset/ 4 Curtailment - -
(liability) (credit)/ cost Additional Disclosure Information Sl.
Particulars Ended 31-03- Ended 31-03-
5 Settlement - - No.
(H in Crore) 2024 2023
(H in Crore) (credit)/ cost
Expected benefit payments i) Net profit after 15766.83 14802.31
Reconciliation For the Year For the Year 6 Past service cost - - - A Percentage
for the year ending tax attributable
B of Net Balance Ended 31- Ended 31- plan amendments
Sheet Position 03-2024 03-2023 7 Acquisitions - - 1 March 31, 2025 34.38 to Equity Share
(credit)/ cost 2 March 31, 2026 34.12 Holders H in Crore
1 Net defined (177.02) (191.55)
8 Actuarial (gain)/ 35.74 192.55 ii) Weighted Average 6162728327 6162728327
benefit asset/ 3 March 31, 2027 33.83
loss - experience no. of Equity Shares
(liability) at end of 4 March 31, 2028 33.45
9 Actuarial - - Outstanding
prior period 5 March 31, 2029 33.02
(gain)/loss - iii) Basic and Diluted H 25.58 H 24.02
2 Service cost (0.90) (1.17) 6 March 31, 2030 to March 156.96
demographic Earnings per Share
3 Net interest on net (11.05) (6.56) 31, 2034 in Rupees
assumptions
defined benefit 7 Beyond 10 years 431.51 (Face value H 10/-
liability/ (asset) per share)
404 405
Corporate Overview
31-03-2024 (Contd..) 31-03-2024 (Contd..)
(c) (i) Lease - as a lessee (e) Subsidiaries incorporated for Solar Business (i) Ratios
(H in Crore)
CIL has taken a Guest House at Hailey Road, New Coal India has incorporated two wholly owned
As at As at
Delhi on a short-term lease for a monthly rent of H subsidiaries on 16th April, 2021 viz. CIL Solar PV Limited Particulars Variance
0.02 crore. The monthly lease payments associated for manufacturing of solar value chain (Ingot-wafer- 31-03-2024 31-03-2023
with the lease for the period are recognised as an Cell Module) and CIL Navikarniya Urja Limited for (a) Current Ratio: The current ratio indicates a company’s overall 7.59 5.08 50%
expense in the Statement of Profit and Loss. renewable energy. liquidity position. It is widely used by banks in making decisions - - 0%
Statutory Reports
regarding the advancing of working capital credit to their clients.
(ii) Lease - as a lessor (f) Provisions made in the Accounts
Current ratio has been calculated as Current Assets divided by
(A) CIL has leased out the assets viz. land, Provisions made in the accounts against slow moving/ Current liabilities.
building, structures, furniture and fixtures non-moving/obsolete stores, claims receivable, advances Reason for Variance: Mainly due to 14.58 % increase in current assets
and other assets of Dankuni Coal Complex etc. are considered adequate to cover possible losses. and 23.38% decrease in current liabilities during the year.
to South Eastern Coalfields Limited. The (b) Debt-Equity Ratio: Debt-to-equity ratio compares a Company’s total - - 0%
lease rent payable by SECL to CIL is H 0.15 (g) Current Assets, Loans and Advances etc.
debt to shareholders equity. Both of these numbers can be found in
crore per month. In the opinion of the Management and to the best of a Company’s balance sheet. Debt-Equity Ratio has been calculated
their knowledge and belief , the value on realisation as total debt divided by Shareholder's Equity.
(B) CIL has leased out the assets viz. land,
on current assets, loans and advances in the ordinary (c) Debt Service Coverage Ratio: Debt Service coverage ratio is used - - 0%
building, structures, furniture and fixtures course of business would not be less than the amount to analyse the firm’s ability to pay-off current interest and instalments.
and other assets to IICM, Ranchi (Jharkhand). at which they are stated in the Balance sheet. The debit/ Debt Service Coverage Ratio is calculated as Earning available for
The lease rent payable by IICM to CIL is credit balances of parties are subject to confirmation and debt service divided by Debt Service.
H 0.001 crore per month w.e.f. 01.04.2020. realisation thereof.
Earning for Debt Service = Net Profit after taxes + Non-cash operating
(C) CIL has leased out the office premises in Delhi (h) Disaggregated revenue information: expenses like depreciation and other amortizations + Interest + other
to Coal Controller Organisation (CCO) at H 0.08 adjustments like loss on sale of Fixed assets etc.
crore per months w.e.f. 01.11.2021. The rent is The table below presents disaggregated revenues from
Debt service = Interest & Lease Payments + Principal Repayments
enhanced by 5% every year. contract with customers information as per requirement
of Ind AS 115, Revenue From Contract with Customer: Net Profit after tax means reported amount of “Profit / (loss) for the period”
(D) CIL (North Eastern Coalfields) has leased and it does not include items of other comprehensive income.
out land in Assam at nominal rent of (d) Return on Equity Ratio: It measures the profitability of equity funds 0.93 0.90 3%
H 0.0002 crore Per annum. (H in Crore) invested in the Company. The ratio reveals how profitability of the
As at As at
equity-holders’ funds have been utilized by the Company. It also
(d) Joint Operations: Particulars measures the percentage return generated to equity-holders.
31-03-2024 31-03-2023
The ratio is computed as: (Net Profits after taxes less Preference
CIL and ONGC have entered into agreement for CBM Types of goods or service Dividend (if any)) divided by Average Shareholder’s Equity
development and operation in Jharia and Raniganj North
- Coal 114.00 659.27 Reason for Variance: Mainly due to higher dividend received from
CBM Blocks as joint operation as per GoI CBM policy under
- Others - - subsidiaries during the year.
the aegis of Directorate General of Hydrocarbons (DGH).
Total revenue from Sale of 114.00 659.27 (e) Inventory turnover ratio: This ratio also known as stock turnover ratio 3.92 39.11 -90%
1. The Development Plan of Jharia CBM Block (Stage-I) and it establishes the relationship between the cost of goods sold
Coal and others
during the period or sales during the period and average inventory
is already approved by CIL as well as ONGC with 26% Types of customers
held during the period. It measures the efficiency with which a
Participating Interest (PI) of CIL as on 31.03.2024. - Power sector (13.20) 469.74 Company utilizes or manages its inventory. Inventory turnover ratio
- Non-Power Sector 127.20 189.53 is calculated as Cost of goods sold OR net sales divided by Average
2. The CBM development and operation project in
Total revenue from Sale of 114.00 659.27 Inventory.
Raniganj North CBM Block Revised FDP (Stage-I) was
prepared by ONGC and approved by 43rd Operating Coal and others Average inventory is (Opening + Closing balance / 2)
Committee on 13.02.2023 and 32nd Steering Types of contract When the information opening and closing balances of inventory is
Committee on 02.03.2023. CIL Board in its 456th - FSA - - not available then the ratio can be calculated by dividing COGS OR
meeting held on 08.03.2023 accorded its approval. - E Auction 127.20 189.53 Sales by closing balance of Inventory. Accordingly total sales has
- Import and other sale (13.20) 469.74 been considered in the ratio.
3. Management certified provisional billing statement Reason for Variance: Mainly due to decrease in sale of Imported Coal.

Total revenue from Sale of 114.00 659.27
of CBM Jharia and Raniganj Block has been
Coal and others
considered for FY 2023-24.
Timing of goods or service
- Goods transferred at a 114.00 659.27
point in time
Total revenue from Sale of 114.00 659.27
Coal and others
406 407
Corporate Overview
31-03-2024 (Contd..) 31-03-2024 (Contd..)
As at As at As at As at
Particulars Variance Particulars Variance
31-03-2024 31-03-2023 31-03-2024 31-03-2023
(f)
Trade Receivables turnover ratio: It measures the efficiency at 0.00 184.67 -100% (j) Return on Capital employed: Return on capital employed indicates 92.90% 90.81% 2%
which the firm is managing the receivables. the ability of a company’s management to generate returns for both
Trade receivables turnover ratio = Net Credit Sales / Avg. Accounts the debt holders and the equity holders. Higher the ratio, more
Statutory Reports
Receivable efficiently is the capital being employed by the company to generate
Net credit sales consist of gross credit sales minus sales return. returns.
Trade receivables includes sundry debtors and bills receivables. ROCE = Earning before interest and taxes / Capital Employed
Average trade debtors = (Opening + Closing balance / 2) Capital Employed = Tangible Net Worth + Total Debt + Deferred Tax
When the information about credit sales, opening and closing balances of Liability
trade debtors is not available then the ratio can be calculated by dividing (k) Return on investment : Return on investment (ROI) is a financial ratio
total sales by closing balances of trade receivables. Accordingly total sales used to calculate the benefit received by the company in relation
has been considered in the ratio. to its investment cost. The higher the ratio, the greater the benefit
Reason for Variance: Mainly due to sale of coal through E-Auction(NEC). earned.
(g) Trade payables turnover ratio: It indicates the number of times 3.58 12.57 -71% (i) ROI on Equity Investment in Unlisted Subsidiaries: Dividend/ 140.75% 133.07% 6%
sundry creditors have been paid during a period. It is calculated Average Investment in Equity of Subs.
to judge the requirements of cash for paying sundry creditors. It is (ii) ROI on Equity Investment in Joint ventures: ROI = Dividend 0.00% 0.00% 0%
calculated by dividing the net credit purchases by average creditors. Received/ Average Investment in Equity of JV
Trade payables turnover ratio = Net Credit Purchases / Average (iii)
ROI on Fixed Income Investment (Bonds/Debentures etc.) 0 0 0%
Trade Payables =Interest income/ Average Investment

Net credit purchases consist of gross credit purchases minus (iv)
ROI on Mutual fund = Dividend+Capital gain+Fair value 14.04% 9.40% 49%
purchase return gain(Loss)/Average Investment
When the information about credit purchases, opening and closing Reason for Variance: Mainly due to 74% decrease in
balances of trade creditors is not available then the ratio is calculated average Investment.
by dividing total purchases by the closing balance of trade creditors. (v) ROI on deposits (With Banks, Fis incl ICDs) = Interest income/ 9.36% 18.50% -49%
Total purchase has been calculated as sum total of cost of material Average Investment
consumed, purchase of stock in trade, power expense, repairs,

Reason for Variance: Mainly due to 33% increase in
contractual expense and other expenses.
average investment.
Reason for Variance: Mainly due to non import of coal for sale during
the year. (j) No proceedings have been initiated or pending included in the note of Sale of Coal. The inventory
(h) Net capital turnover ratio: It indicates a company's effectiveness 0.04 0.22 -84% against the company on the date of the Balance of FY 2019-20 includes stock of seized coal 906.46
Sheet for holding any benami property under the tonnes valued H 0.32 Crore.
in using its working capital. The working capital turnover ratio is
Benami Transactions (Prohibition) Act,1988.
calculated as follows: net sales divided by the average amount of Further, on the direction of Divisional Forest Officer,
working capital during the same period. Net capital turnover ratio = (k) Seized Stock of Coal
Digboi Division NEC has deposited amounting H 2.26
Net Sales / Working Capital As per the direction given by Dy. Director of Forests, Crores under the custody of Margherita Treasury.
Regional Office, MoEF Shillong on 24th October, The management has also recognised the provision
Net sales shall be calculated as total sales minus sales returns.
2019, 4810.76 tonnes of coal lying in the Tikak against such deposit in the Financial Statement.
Working capital shall be calculated as current assets minus current colliery was seized and directed not to carry out any
liabilities. mining operation at Tikak Colliery. NEC Protested (l) No funds have been advanced or loaned or invested
eason for Variance: Mainly due to decrease in sale of imported coal.
R the seizure of coal at Tikak Colliery and filed a (either from borrowed funds or share premium
(i) Net profit ratio: It measures the relationship between net profit and 138.31 22.45 516% case in the SDJM's Court, Margherita. The Hon'ble or any other sources or kind of funds) by the
court has taken cognizance of the matter and case Company to or in any other person(s) or entity (ies),
sales of the business
is pending till date. Based on, order of the Hon'ble including foreign entities (“Intermediaries”) with
Net Profit Ratio = Net Profit / Net Sales court, Divisional Forest Officer, Digboi Division has the understanding, whether recorded in writing or
Net profit shall be after tax. directed to sell the coal and deposit the money otherwise, that the Intermediary shall lend or invest
under the custody of Margherita Treasury. in party identified by or on behalf of the Company
Net sales shall be calculated as total sales minus sales returns.
(Ultimate Beneficiaries). The Company has not
eason for Variance: Mainly due to decrease in sales during
R Based on the above order, NEC sold 906.46 received any fund from any party(s) (Funding Party)
the year. tonnes of coal amounting to H 0.37 Crore in FY with the understanding that the Company shall
2020-21 and 3904.30 tonnes of coal amounting whether, directly or indirectly lend or invest in other
to H 1.93 Crore in FY 2019-20 and collected persons or entities identified by or on behalf of the
Royalty of H 0.04 Crore in FY 2020-21 and funding party (“Ultimate Beneficiaries”) or provide
H 0.25 Crore in FY 2019-20 on this sale which was
408 409
Corporate Overview
31-03-2024 (Contd..)
any guarantee, security or the like on behalf of the Committee and thereafter approved by the Board
Ultimate Beneficiaries. at their respective meeting held on 02nd May, 2024.
(m) The Company's main business is Coal mining. All As required under Regulation 33 of the Securities
other activities of the company revolve around and Exchange Board of India (Listing Obligations
the main business. As such, there are no separate and Disclosure Requirements) Regulations, 2015,
reportable segments for the company. the Statutory Auditors have conducted audit
of the Financial Statement for the For the Year
Statutory Reports
(n) Based on the information to the extent available
Ended 31-03-2024
with the company, there were no transactions with
the companies struck off under section 248 of the (q) The company modified its material accounting policy
Companies Act, 2013 on stripping activity adjustment in alignment with
the opinion outlined by the Accounting Standard
(o) Figures for the previous year have been
Board of the Institute of Chartered Accountants of
regrouped wherever necessary, in order to make
India. However, this adaptation did not exert any
them comparable.
impact on the financial results of the company.
(p) The Standalone Financial Statement, have been
reviewed and recommended by the Audit
Signature to Note 1 to 16.

Sd/- Sd/- Sd/-

Partner Chairman-Cum-Managing Director & CEO Director (Finance) & CFO

Sd/- Sd/-
CONSOLIDATED
FINANCIAL STATEMENTS
410 411
CONSOLIDATED BALANCE SHEET STATEMENT OF CONSOLIDATED PROFIT AND LOSS
(H in Crore)
(H in Crore) For the For the
NOTE
As at As at year ended year ended
Note As at NO.
31-03-2023 01-04-2022 31-03-2024 31-03-2023
No. 31-03-2024
(Restated) (Restated) I Revenue from operations (Net of levies)
ASSETS Sales 12.1 1,30,325.65 1,27,627.47
(1) Non-current assets
Other operating revenue 12.1 11,998.33 10,624.44
(a) Property, Plant and Equipment 3.1 67,900.41 57,034.46 55,944.71
(b) Capital work in progress 3.2 14,738.66 15,262.62 12,713.73 Revenue from operations (Net of levies) 1,42,323.98 1,38,251.91
(c) Exploration and Evaluation assets 3.3 5,049.58 4,924.85 3,873.55 II Other income 12.2 7,969.08 6,559.81
(d) Intangible assets 3.4 2,718.21 2,588.11 105.62 III Total income (I+II) 1,50,293.06 1,44,811.72
(e) Intangible assets under development 3.5 4,221.64 2,359.35 183.41
IV Expenses
(f) Financial assets (i) Investments 4.1 3,859.31 3,085.40 2,426.97
(ii) Loans 4.2 358.71 371.06 355.47 Cost of materials consumed 13.1 11,580.04 13,557.00
(iii) Other financial assets 4.6 18,010.69 16,300.45 14,498.79 Purchase of stock-in-trade 13.1(a) - 469.74
(g) Deferred tax assets (Net) 11.2 3,141.29 2,814.52 4,128.42 Changes in inventories of finished goods, stock-in -trade and work-in-progress 13.2 (1,521.50) (669.03)
(h) Non-current tax assets (Net) 11.1 71.14 - - Employee benefits expense 13.3 49,410.17
48,782.58
(i) Other non-current assets 6.1 13,719.26 9,606.13 6,407.94
TOTAL NON-CURRENT ASSETS 1,33,788.90 1,14,346.95 1,00,638.61 Finance costs 13.4 819.37 684.31
(2) Current assets Depreciation, amortization and impairment expenses 13.5 6,735.42 6,832.94
(a) Inventories 5.1 10,177.23 8,154.68 7,075.68 Stripping activity adjustment 13.6 (6,138.17) (3,622.36)
(b) Financial assets (i) Investments 4.1 3,251.10 4,054.01 6,493.63 Contractual expenses 13.7 27,597.85 23,289.21
(ii) Trade receivables 4.3 13,255.75 13,060.48 11,367.68
(iii) Cash and cash equivalents 4.4 6,008.71 5,627.43 7,063.48 Other expenses 13.8 14,051.69 11,577.00
(iv) Other bank balances 4.5 24,226.46 34,294.28 22,901.75 Total expenses (IV) 1,01,907.28 1,01,528.98
(v) Loans 4.2 21.59 21.94 0.32 V Profit before share of joint venture profit/(loss) (III-IV) 48,385.78 43,282.74
(vi) Other financial assets 4.6 2,698.51 2,716.96 2,620.91 VI Share of joint venture profit/(loss) 426.83 (8.14)
(c) Current tax assets (Net) 11.1 9,064.13 8,719.00 8,423.19
VII Profit before tax (V+VI) 48,812.61 43,274.60
(d) Other current assets 6.2 35,179.88 31,434.93 26,899.35
TOTAL CURRENT ASSETS 1,03,883.36 1,08,083.71 92,845.99 VIII Tax Expense 14.1
TOTAL ASSETS 2,37,672.26 2,22,430.66 1,93,484.60 (1) Current tax 11,576.35 9,554.08
EQUITY AND LIABILITIES (2) Deferred tax (132.87) 1,997.54
Equity
Total Tax expenses 11,443.48 11,551.62
Equity share capital 7.1 6,162.73 6,162.73 6,162.73
Other equity 7.2 76,567.05 54,680.20 36,980.31 IX Profit for the year (VII-VIII) 37,369.13 31,722.98
Equity attributable to equityholders of the company 82,729.78 60,842.93 43,143.04 X Other Comprehensive Income 15.1
Non-controlling interests 7.3 852.12 770.69 673.79 A) (i) Items that will not be reclassified to profit or loss (523.52) 353.43
TOTAL EQUITY 83,581.90 61,613.62 43,816.83
(ii) Income tax relating to items that will not be reclassified to profit or loss 108.07 (88.94)
LIABILITIES
(1) Non-current liabilities B) (i) Items that will be reclassified to profit or loss - 0.14
(a) Financial liabilities (i) Borrowings 8.1 5,617.20 4,106.25 3,301.78 (ii) Income tax relating to items that will be reclassified to profit or loss - -
(ia) Lease liabilities 8.2 156.29 157.00 159.66 Total Other Comprehensive Income (415.45) 264.63
(ii) Other financial liabilities 8.4 3,469.26 3,207.57 2,477.84
XI Total comprehensive income for the period/year (IX+X) (comprising profit and 36,953.68 31,987.61
(b) Provisions 9.1 74,311.01 76,140.63 79,190.92
other comprehensive income for the period/year)
(c) Deferred tax liabilities (Net) 11.2 1,822.16 1,643.95 801.35
(d) Other non-current liabilities 10.1 7,441.90 6,788.22 6,527.71 XII Profit attributable to:
TOTAL NON-CURRENT LIABILITIES 92,817.82 92,043.62 92,459.26 Owners of the company 37,402.29 31,763.23
(2) Current liabilities Non-controlling interest (33.16) (40.25)
(a) Financial liabilities (i) Borrowings 8.1 671.82 8.48 7.98 37,369.13 31,722.98
(ia) Lease liabilities 8.2 77.72 59.69 44.22
XIII Other comprehensive income attributable to:
(ii) Trade payables 8.3
(A) Total outstanding dues of micro, small 157.38 53.90 42.54 Owners of the company (415.45) 264.63
and medium enterprises; and Non-controlling interest - -
(B) Total outstanding dues of Creditors 8,228.27 8,495.28 8,560.99 (415.45) 264.63
other than micro, small and medium
XIV Total comprehensive Income attributable to:
enterprises
(iii) Other financial liabilities 8.4 16,148.19 12,806.81 11,431.07 Owners of the company 36,986.84 32,027.86
(b) Other current liabilities 10.2 29,110.25 32,126.30 30,897.32 Non-controlling interest (33.16) (40.25)
(c) Provisions 9.1 6,680.58 15,198.18 6,224.39 36,953.68 31,987.61
(d) Current tax liabilities (Net) 11.1 198.33 24.78 -
XII Earnings per equity share (Face Value J 10 each) *
TOTAL CURRENT LIABILITIES 61,272.54 68,773.42 57,208.51
TOTAL EQUITY AND LIABILITIES 2,37,672.26 2,22,430.66 1,93,484.60 (1) Basic 60.69 51.54
(2) Diluted 60.69 51.54
The Accompanying Note No. 1 to 16 form an integral part of the Consolidated Financial Statements. *Refer note 16 (8) (iv) for calculation of EPS
As per our report annexed The accompanying note No. 1 to 16 form an integral part of the consolidated financial statements.
As per our report annexed On behalf of the Board of Directors
For Lodha & Co LLP
Sd/- Sd/- Sd/- Firm Registration No. 301051E/E300284
(R. P. Singh) (P M Prasad) (Mukesh Agrawal) Sd/- Sd/- Sd/-
Partner Chairman-Cum-Managing Director & CEO Director (Finance) & CFO (R. P. Singh) (P M Prasad) (Mukesh Agrawal)
Membership No. 052438 DIN- 08073913 DIN- 10199741 Partner Chairman-Cum-Managing Director & CEO Director (Finance) & CFO
Sd/- Sd/-

Sd/- Sd/-
Place : Kolkata Executive Director (Finance) Company Secretary Place : Kolkata (Sunil Kumar Mehta) (B. P. Dubey)
Date : 02nd May, 2024 Executive Director (Finance) Company Secretary

412 413
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
A. EQUITY SHARE CAPITAL
B. OTHER EQUITY
(H in Crore) Reserves and Surplus OCI -
Changes in equity Exchange
Balance Balance differences
share capital
Particulars as at as at OCI - in
during the current
01-04-2023 31-03-2024 Capital Remeasurement translating
year Particulars Capital General Retained Total
Redemption of Defined the
6,162.73 - 6,162.73 Reserve Reserve Earnings financial
6,16,27,28,327 Equity Shares of H10/- each reserve Benefits Plans
(net of Tax) statements
(H in Crore) of a foreign
Changes in equity Balance operation
Balance
share capital as at Balance as at 01-04-2022 1,202.96 1,566.57 17,641.59 17,451.80 (883.33) 0.72 36,980.31
Particulars as at
during the current 31-03-2023 Profit for the year 31,763.23 31,763.23
01-04-2022
year (Restated) (Restated)
6,16,27,28,327 Equity Shares of H10/- each 6,162.73 - 6,162.73 Addition during the year - 2.63 1,326.58 264.49 0.14 1,593.84
Transfer to General reserve - (1,326.58) (1,326.58)
B. OTHER EQUITY
Adjustments during the - (1.40) - (22.80) 21.99 - (2.21)
(H in Crore) year
Reserves and Surplus OCI - Interim Dividend (12,479.57) (12,479.57)
Exchange Final Dividend (1,848.82) (1,848.82)
differences
Balance as at 1,202.96 1,567.80 18,968.17 33,537.26 (596.85) 0.86 54,680.20
OCI - in
31-03-2023 (Restated)
Capital Remeasurement translating
Particulars Capital General Retained Total
Redemption of Defined the
Reserve Reserve Earnings financial Refer Note 7.2 for dividend and the nature and purpose of Reserves and Surplus.
reserve Benefits Plans
(net of Tax) statements The Accompanying Note No. 1 to 16 form an integral part of the Consolidated Financial Statements.
of a foreign
operation
As per our report annexed On behalf of the Board of Directors
Balance as at 01-04-2023 1,202.96 1,567.80 18,968.17 29,938.97 (596.85) 0.86 54,680.20
For Lodha & Co LLP
Changes in accounting 3,598.29 Chartered Accountants
policy or prior period
errors
Restated Balance as at 1,202.96 1,567.80 18,968.17 33,537.26 (596.85) 0.86 54,680.20 Sd/- Sd/- Sd/-
01-04-2023 (R. P. Singh) (P M Prasad) (Mukesh Agrawal)
Profit for the year 37,402.29 37,402.29 Partner Chairman-Cum-Managing Director & CEO Director (Finance) & CFO
Addition during the year - 0.31 1,415.27 (415.45) - 1,000.13 Membership No. 052438 DIN- 08073913 DIN- 10199741
Transfer to General reserve - (1,415.27) (1,415.27)
Adjustments during the (96.15) (1.57) (3,398.51) - - - (3,496.23)
Sd/- Sd/-
year
Place : Kolkata (Sunil Kumar Mehta) (B. P. Dubey)
Interim Dividend (12,633.63) (12,633.63) Date : 02nd May, 2024 Executive Director (Finance) Company Secretary
Final Dividend (2,465.09) (2,465.09)
Issue of Bonus Shares 3,494.65 3,494.65
Balance as at 31-03-2024 1,106.81 5,061.19 16,984.93 54,425.56 (1,012.30) 0.86 76,567.05

414 415
STATEMENT OF CONSOLIDATED CASH FLOW STATEMENT OF CONSOLIDATED CASH FLOW
For the year For the year
For the year For the year
ended 31-03-2023 ended 31-03-2023
ended 31-03-2024 ended 31-03-2024
(Restated) (Restated)
CASH FLOWS FROM OPERATING ACTIVITIES Components of Cash and Cash Equivalents
(a) Balances with Banks
Profit before tax 48,812.61 43,274.60
- in Deposit Accounts 3,793.54 2,528.61
Adjustments for :
- in Current Accounts 1,872.78 2,387.86
Share of Joint Venture (426.83) 8.14 (b) Bank Balances outside India 0.24 0.12
Depreciation, amortisation and impairment expenses 6,735.42 6,832.94 (c) ICDs with Primary Dealers 201.00 520.00
Interest and other income from investment (3,881.77) (3,190.65) (d) Cheques, Drafts and Stamps in hand - 0.09
Finance Costs 819.37 684.31 (e) Cash in hand 0.01 0.01
(Profit)/Loss on sale of Property, Plant and Equipment (18.85) (28.13) (f) Bank Overdraft (663.25) -
Liability and provision written back (1,155.13) (1,699.19) (g) Others e-procurement account/GeM account/Imprest balances 141.14 190.74
Allowances and Provisions 1,189.79 374.93 Total (Refer note 4.4 and note 8.1 for components of Cash and Cash Equivalents) 5,345.46 5,627.43
Write off 81.64 192.60
Stripping Activity Adjustment (6,138.17) (3,622.35) 1. Reconciliation between the opening and closing balances in the balance sheet for liabilities arising from
Foreign Exchange rate variance (4.78) 4.55 financing activities:
Cash flows from operating activities before changes in following assets and liabilities 46,013.30 42,831.75 For the Year Ended 31-03-2024
Trade Receivables (1,146.66) (2,027.03)
Non-current Finance Lease Current
Inventories (2,067.08) (1,079.00) Borrowings* Liabilities borrowings
Loans and advances and other financial assets 446.51 (648.28)
Opening balance as at 01-04-2023 4,106.25 216.69 8.48
Other current and non current Assets (5,101.20) (6,000.22)
Cash flows during the year 1,501.12 (73.11) (5.13)
Trade payables (163.53) (54.35)
Non-cash changes due to:
Other financial liabilities 1,960.03 1,324.26 Acquisitions and unwinding finance cost under finance lease - 90.43
Other current and non current liabilities (1,230.76) 3,126.03 Accrued Interest on borrowings 10.03 5.22
Provisions (8,880.82) 8,010.53 Effect of changes in foreign exchange rates (0.20)
Cash Generated from Operation 29,829.79 45,483.69 Closing balance as at 31-03-2024 5,617.20 234.01 8.57
Income Tax (Paid) (11,726.69) (9,749.72)
Net Cash Flow generated from Operating Activities (A) 18,103.10 35,733.97 For the Year Ended 31-03-2023
CASH FLOW FROM INVESTING ACTIVITIES
Non-current Finance Lease Current
Payments for Property, Plant and Equipments and Intangible assets (16,379.95) (14,214.03) Borrowings* Liabilities borrowings
Proceeds from Sale of Property, Plant and Equipments 71.42 106.79
Opening balance as at 01-04-2022 3,301.78 203.88 7.80
Payments for Exploration and Evaluation Asset (441.39) (1,104.08)
Cash flows during the year 804.47 (43.21) 0.68
Realisation of deposits/(Deposits) with Banks 8,435.97 (13,016.25) Non-cash changes due to:
Proceeds from/(Investment in) Mutual Fund, Shares etc. 1,228.28 2,744.54 Acquisitions and unwinding finance cost under finance lease - 56.02
Payment for Equity investment in Joint Venture (347.02) (666.54) Accrued Interest on borrowings (0.90) -
Interest received on Investment 2,946.89 2,684.08 Effect of changes in foreign exchange rates 0.90
Net Cash used in Investing Activities (B) (4,485.80) (23,465.49) Closing balance as at 31-03-2023 4,106.25 216.69 8.48
CASH FLOW FROM FINANCING ACTIVITIES
* Includes current maturities of non-current borrowings and interest accrued thereon, refer Note 8.1
Proceeds from /(Repayment of) non current borrowings 1,501.12 804.47
Proceeds from /(Repayment of) current borrowings (5.13) 0.68 2. The above statement of cash flow is prepared in accordance with the Indirect Method prescribed in Ind AS 7 -
Repayment of lease liabilities (including interest) (73.11) (43.21) ‘Statement of Cash flows.
Interest paid (224.30) (138.22) 3. The Group has spent H 654.49 crores (Refer note no. 13.8.2) on account of Corporate Social Responsibility (CSR)
Dividend paid on Equity shares/deposited in Investor Education and (15,097.85) (14,328.07) expenditure during the year ended 31.03.2023 (Previous Year H 586.50 Crores).
protection fund
Net Cash (used in)/generated from Financing Activities (C) (13,899.27) (13,704.35) The Accompanying Note No. 1 to 16 form an integral part of the Consolidated Financial Statements.
Net Increase / (Decrease) in Cash and Cash equivalent (A+B+C) (281.97) (1,435.87) As per our report annexed On behalf of the Board of Directors
Cash and Cash equivalent as at the beginning of the year 5,627.43 7,063.30 For Lodha & Co LLP
Cash and Cash equivalent as at the end of the year 5,345.46 5,627.43 Chartered Accountants
Reconciliation of Cash and Cash equivalents (Refer Note 4.4) Firm Registration No. 301051E/E300284
Cash and Cash equivalents (Net of bank Overdraft) 5,345.46 5,627.43
Sd/- Sd/- Sd/-
Partner Chairman-Cum-Managing Director & CEO Director (Finance) & CFO
Sd/- Sd/-
Place : Kolkata (Sunil Kumar Mehta) (B. P. Dubey)
Date : 02nd May, 2024 Executive Director (Finance) Company Secretary
416 417
NOTES TO THE FINANCIAL STATEMENTS (CONSOLIDATED) NOTES TO THE FINANCIAL STATEMENTS (CONSOLIDATED)
Note: 1 been considered for the purpose of preparation Historical cost convention is generally based on the v. Non-controlling interest’s share of the net profit
of these financial statements. fair value of the consideration given in exchange for of subsidiaries for the year is identified and
A. Corporate Information
goods and services. adjusted against the revenue of the Group in
Coal India Limited (CIL) (the “Company”) is a The accounting policies are applied consistently order to arrive at the net revenue attributable to
Maharatna Company domiciled in India and limited except where a newly issued accounting The functional currency of the Group is determined as the owners of the Holding Company. The excess
by shares. The shares of the Company are listed and standard is initially adopted or a revision to an the currency of the primary economic environment of loss for the year over the non-controlling
traded on the National Stock Exchange of India existing accounting standard requires a change in which it operates. The Consolidated Financial interest is adjusted in the owner’s interest.
Limited (NSE) and Bombay Stock Exchange India in the accounting policy hitherto in use. Statements are presented in Indian Rupees and all
Limited (BSE) in India. The address of the Company’s values are rounded off to the ‘rupees in crore’ up to vi. Non-controlling interest’s share of net assets
ii) Application of new and revised standards:
registered office is Coal Bhawan, Premises No. 04 two decimal points. of subsidiaries is identified and presented
MAR, Plot No. -AF-III, Action Area-1A, New Town, Effective April 01, 2023, the company has in the Consolidated Balance Sheet separate
adopted the amendments vide Companies 2.2 Basis of consolidation
Rajarhat, Kolkata- 700163. from liabilities and the equity of the Holding
(Indian Accounting Standard) Amendment 2.2.1 Subsidiaries Company’s shareholders.
These consolidated financial statements comprise Rules, 2023 notifying amendment to existing
i. Subsidiaries are entities over which the Group
the financial statements of the Company and its Ind AS. These amendments to the extent vii. A change in the ownership interest of a
has control and the Control is achieved when the
subsidiaries (referred to collectively as the ‘Group’) relevant to the Company’s operation include subsidiary which does not result in a loss of
group is exposed or has rights, to variable returns
and the Group’s interest in its joint ventures. amendment to Ind AS 1 “Presentation of control, is accounted for as an equity transaction.
from its involvement with the investee and has
Financial Statements” which requires the
The Group is primarily involved in the mining the ability to affect those returns through its: viii. If the Group loses control over a subsidiary,
entities to disclose their material accounting
and production of Coal and also operates in Coal policies rather than their significant accounting it derecognizes the assets, liabilities, carrying
a. Power over the investee;
washeries. Other ancillary activities in which the policies, Ind AS 8 “Accounting Policies, Changes amount of any non-controlling interests and
Group is involved include mine planning, designing in Accounting Estimates and Errors” which has b. Exposure or rights to variable returns from the cumulative translation differences recorded
and related consultancy services, and generation of introduced a definition of ‘accounting estimates’ its involvement with the investee; in equity. Any interest retained in the former
power and renewal energy. and include amendments to help entities subsidiary is measured at fair value at the date
distinguish changes in accounting policies c. The ability to use its power over the investee the control is lost, with the resulting gain/ loss
The major consumers of the group are the power and to affect its returns. recognised in the statement of Profit & Loss.
from changes in accounting estimates . Further
steel sectors. Consumers from other sectors include consequential amendments with respect to
cement, fertilizers, brick kilns, etc. Subsidiaries are consolidated from the date Business Combination and Goodwill
the concept of material accounting policies
control over the subsidiary is acquired and The Group except for combination of group entities
have also been made in “, Ind AS 107 “Financial
Company has ten wholly-owned subsidiaries in India they are discontinued from the date of
Instruments: Disclosures” and Ind AS 34 “Interim which are under common control applies the
out of which seven subsidiaries are coal producing, cessation of control.
Financial Reporting”. acquisition method in accounting for business
one subsidiary is engaged in mine planning,
combinations. The consideration transferred by the
designing, and related consultancy services and two There are other amendments in various ii. The Group combines the financial statements of
Group to obtain control of a subsidiary is calculated
subsidiaries are engaged in manufacturing solar standards including Ind AS 101 “First-time the Holding and its subsidiaries based on a line-
as the sum of the acquisition-date fair values of
value chain (ingot-wafer-cell module) and renewable Adoption of Indian Accounting Standards”, Ind by-line consolidation by adding together the
assets transferred, liabilities incurred and the equity
energy business. CIL also has a fully owned mining AS 103 “Business Combinations, Ind AS 109 book value of like items of assets and liabilities,
interests issued by the Group, which includes the fair
company in Mozambique known as ‘Coal India “Financial Instruments “ Ind AS 115 “Revenue revenue and expenses as per the respective
value of any asset or liability arising from a contingent
Africana Limitada’ which is yet to commence from Contracts with Customers”, Ind AS 12 financial statements. Intra-group balances, intra-
consideration arrangement. Acquisition costs are
operations. The Company is also engaged in certain “Income Taxes” which has narrowed the scope group transactions, and the unrealised profits
expensed as incurred. Assets acquired and liabilities
ventures through Joint Venture arrangements and of the initial recognition exemption so that it on stocks arising out of intra-group transactions
assumed are generally measured at their acquisition
there are also seven step down subsidiaries. does not apply to transactions that give rise to have been eliminated.
date fair values.
equal and offsetting temporary differences and
The Consolidated financial statements for the year iii. The consolidated financial statements are
Ind AS 102 “Share-based Payment” which have In case of combination of entities under control,
ended March 31, 2024, were approved for issue by the not been listed herein above since these are not prepared using uniform accounting policies
business combination are accounted for under
Board of Directors of the company on May 02, 2024. relevant to the Company. for similar material transactions and other
pooling of interest method whereby the assets and
events in similar circumstances otherwise as
B.
Statement of Compliance and Recent liabilities are combined at the carrying amount and
Revision in these standards did not have any stated elsewhere.
Accounting Pronouncement material impact on the profit/loss and earning no adjustments are made to reflect their fair values
i) Statement of Compliance per share for the year. iv. The difference between the costs of investment or recognise any new assets or liabilities.
in the subsidiaries, over the net assets at the
These consolidated financial statements have After initial recognition, goodwill is measured at cost
time of acquisition of shares in the subsidiaries
been prepared in accordance with the Indian Note 2: Material Accounting Policy Information less any accumulated impairment losses. For the
is recognised in the consolidated financial
Accounting Standards (hereinafter referred to as purpose of impairment testing, goodwill acquired
2.1 Basis of preparation of financial statements statements as Goodwill or Capital reserve
the “Ind AS”) as notified under the Companies in a business combination is, from the combination
The Consolidated Financial Statements have been as the case may be. The said goodwill is not
(Indian Accounting Standards) Rules, 2015 date, allocated to each of the Group’s cash-
prepared under the historical cost convention on amortised, however, it is tested for impairment
(as amended) read with Section 133 of the generating units that are expected to benefit from
accrual basis except certain financial instruments at each balance sheet date, and impairment
Companies Act, 2013 (“the Act”). The Ind ASs the combination, irrespective of whether other assets
that are measured in terms of relevant Ind AS at loss, if any is recognised in the consolidated
issued, notified and made effective till the or liabilities of the acquire are assigned to those units.
amortized costs or fair value at the end of each financial statements.
financial statements are authorized and have
reporting period.
418 419
2.2.2 Associates ii) Investments in Joint venture are accounted for are recognised as a reduction in the carrying amount (d) the asset is cash or a cash equivalent (as defined
using the equity method of accounting, after of the investment. in Ind AS 7) unless the asset is restricted from
Associates are all entities over which the Company
initially being recognized at cost, except when being exchanged or used to settle a liability for at
has significant influence but no control or joint When the Group’s share of losses in an equity-
the investment, or a portion thereof, is classified least twelve months after the reporting period.
control. This is generally the case where the Company accounted investment equals or exceeds its interest
as held for sale, in which case it is accounted in
holds between 20% and 50% of the voting rights. in the entity, including any other unsecured long- All other assets are classified as non-current.
accordance with Ind AS 105.
term receivables, the Group does not recognise
Investments in associates are accounted for using A liability is treated as current by the group when:
iii) The Group impairs its net investment in the further losses, unless it has incurred obligations or
the equity method of accounting, after initially being
joint venture on the basis of objective evidence, made payments on behalf of the other entity
recognised at cost, except when the investment, or (a) it expects to settle the liability in its normal
When the Group’s share of losses in a joint
a portion thereof, classified as held for sale, in which 2.2.7 Changes in ownership interests operating cycle;
venture equals or exceeds its investment in
case it is accounted in accordance with Ind AS 105. the entity, including any other unsecured long- The Group treats transactions with non-controlling (b) it holds the liability primarily for the
term receivables, the Group does not recognise interests that do not result in a loss of control as purpose of trading;
The Group impairs its net investment in the associates
further losses, unless it has incurred obligations transactions with equity owners of the Group. A
on the basis of objective evidence. (c) the liability is due to be settled within twelve
or made payments on behalf of the joint venture. change in ownership interest results in an adjustment
2.2.3 Joint arrangements between the carrying amounts of the controlling months after the reporting period; or
iv) Unrealised gains on transactions between the and non-controlling interests to reflect their relative
Joint arrangements are those arrangements where Group and its joint ventures are eliminated (d) it does not have an unconditional right to defer
interests in the subsidiary. Any difference between
the Group is having joint control with one or to the extent of the Group’s interest in these settlement of the liability for at least twelve
the amount of the adjustment to non-controlling
more other parties. entities. Unrealised losses on transactions months after the reporting period. Terms
interests and any fair value of consideration paid or
between the Group and its joint ventures are of a liability that could, at the option of the
received is recognised within equity
Joint control is the contractually agreed sharing of counterparty, result in its settlement by the
also eliminated to the extent of the Group’s
control of the arrangement which exist only when When the Group ceases to consolidate or equity issue of equity instruments do not affect its
interest in these entities unless the transaction
decisions about the relevant activities require the account for an investment because of a loss of control, classification.
provides evidence of an impairment of the asset
unanimous consent of the parties sharing control. joint control or significant influence, any retained
transferred. Where the accounting policies of
All other liabilities are classified as non-current.
joint ventures are different from those of the interest in the entity is remeasured to its fair value
Joint Arrangements are classified as either joint
Group, appropriate adjustments are made with the change in carrying amount recognised in Having regard to the nature of the business being
operations or joint ventures. The classification
for like transactions and events in similar profit or loss. This fair value becomes the initial carrying carried out by the group, the group has ascertained
depends on the contractual rights and obligations of
circumstances to ensure conformity with the amount for the purposes of subsequently accounting its operating cycle as twelve months for the purpose
each investor, rather than the legal structure of the
policies adopted by the group. for the retained interest as an associate, joint venture of current and non-current classification of assets
joint arrangement.
or financial asset. In addition, any amounts previously and liabilities.
2.2.4 Joint Operations v) Any gain or loss on dilution arising on a reduced recognised in other comprehensive income in respect
stake in the joint venture, but still retaining the of that entity are accounted for as if the Group had 2.4 Revenue recognition
A joint operation is a joint arrangement whereby the joint control, is recognized in the Statement of directly disposed of the related assets or liabilities. This Revenue from contracts with customers
parties that have joint control of the arrangement Profit and Loss. may mean that amounts previously recognised in other
have rights to the assets, and obligations for the Revenue is principally derived from the sale of coal,
comprehensive income are reclassified to profit or loss.
liabilities, relating to the arrangement. Joint control vi) When the investment ceases to be a joint related ancillary services, and products. Revenue from
is the contractually agreed sharing of control of an venture and the retained interest is a financial If the ownership interest in a joint venture or an sales of products is recognized when control of the
arrangement, which exists only when decisions about asset, the Group measures the retained interest associate is reduced but joint control or significant products has transferred, being when the products
at fair value with the change in carrying amount influence is retained, only a proportionate share are delivered to the customer. Delivery occurs when
the relevant activities require unanimous consent of
recognised in the Statement of Profit and Loss. of the amounts previously recognised in other the products have been shipped or delivered to the
the parties sharing control.
The fair value of the retained interest becomes specific location as the case may be, and the risks
comprehensive income are reclassified to profit or
the initial carrying amount for the purpose of of loss have been transferred in accordance with the
The group recognises its direct right to the assets, loss where appropriate.
accounting for the retained interest as a financial
liabilities, revenues and expenses of joint operations sales contract. The amount of revenue recognized
asset. Any amounts previously recognised in 2.3 Current and Non-Current Classification
and its share of any jointly held or incurred assets, reflects the consideration to which the Group is or
other comprehensive income in respect of that
liabilities, revenues and expenses. These have been The Group presents assets and liabilities in the Balance expects to be entitled in exchange for those goods
joint venture are reclassified to the Statement of
incorporated in the financial statements on line Sheet based on current/ non-current classification. or services. Accumulated experience is used to
Profit and Loss.
by line basis with similar items in the consolidated An asset is treated as current by the group when: estimate and provide for the variable consideration as
financial statements or otherwise under the 2.2.6 Equity Method per the sales contract, using the most likely method,
(a) it expects to realise the asset, or intends to sell or and revenue is only recognized to the extent that it
appropriate heads of accounts. Under the equity method of accounting, the
consume it, in its normal operating cycle; is highly probable that a significant reversal will not
investments are initially recognised at cost and
2.2.5 Joint ventures occur. The amount of consideration does not contain
adjusted thereafter for the post-acquisition changes (b) it holds the asset primarily for the
i) A joint venture is a joint arrangement in the Group’s share of the net assets of the investee. a significant financing component as payment terms
purpose of trading;
whereby parties that have joint control of the The Group’s share of the post-acquisition profits are less than one year as per the sales contracts.
arrangement having rights to the net assets or losses and other comprehensive income of the (c) it expects to realise the asset within twelve
The group has a number of long-term contracts
of the arrangement. Interests in joint ventures investee are included in the Statement of Profit and months after the reporting period; or
to supply products to customers in future periods.
are initially recognised at cost and thereafter Loss and Other Comprehensive Income of the Group.
Generally, revenue is recognized on an invoice
accounted for using the equity method. Dividends received or receivable from joint ventures
420 421
basis, as each unit sold is a separate performance in “Capital Reserve” which forms part of the asset to the lessee by the end of the lease term or The asset (or disposal group) is being actively
obligation, and therefore the right to consideration “Shareholders fund”. if the cost of the right-to-use asset reflects that the marketed for sale at a price that is reasonable in
from a customer corresponds directly with our lessee will exercise a purchase option. Otherwise, the relation to its current fair value,
2.6 Leases
performance completed to date. lessee shall depreciate the right-to-use asset from
A contract is, or contains, a lease if the contract conveys the commencement date to the earlier of the end of The sale is expected to qualify for recognition as
Interest a completed sale within one year from the date
the right to control the use of an identified asset for a the useful life of the right-of-use asset or the end of
Interest income from a financial asset is recognized period of time in exchange for consideration. the lease term. of classification, and
when it is probable that the economic benefits will
2.6.1 Group as a lessee 2.6.2 Group as a lessor Actions required to complete the plan indicate
flow to the Group and the amount of income can be
that it is unlikely that significant changes
measured reliably. Interest income is accrued on a The Group assesses whether a contract contains Assets are given on lease either as finance lease or
to the plan will be made or that the plan
time basis, by reference to the principal outstanding a lease, at inception of a contract. A contract is, or operating lease.
will be withdrawn.
and at the effective interest rate applicable, which contains, a lease if the contract conveys the right to
is the rate that exactly discounts the estimated control the use of an identified asset for a period of Finance Lease: A lease is classified as finance lease
Non-current asset or disposal groups classified as
future cash receipts through the expected life of the time in exchange for consideration. To assess whether if it transfers substantially all the risks and rewards
held for sale are measured at the lower of carrying
financial asset to that asset’s net carrying amount on a contract conveys the right to control the use of incidental to ownership of an underlying asset.
amount and fair value less costs to sell.
initial recognition. an identified asset, the Group assesses whether: (i) Initially, asset held under finance lease is recognised
the contract involves the use of an identified asset in Balance Sheet and presented as a receivable at 2.8
Property, Plant and Equipment (PPE) and
Dividends an amount equal to the net investment in the lease. Depreciation/Amortisation
(ii) the Group has substantially all of the economic
Dividend is recognised when the company’s right to benefits from use of the asset through the period of Finance income is recognised over the lease term,
An item of PPE is recognized as an asset if it is
receive the payment is established, which is generally the lease and (iii) the Group has the right to direct based on a pattern reflecting a constant periodic rate
probable that future economic benefits associated
when shareholders approve the dividend. the use of the asset. of return on Group’s net investment in the lease.
with the item will flow to the Group and the cost of
Operating Lease: A lease which is not classified the item can be measured reliably.
Other Claims At the commencement date, a lessee shall recognise
a right-of-use asset at cost and a lease liability at the as a finance lease is an operating lease. The Group
Revenue in respect of Other claims (including PPE are initially measured at cost of acquisition/
present value of the lease payments that are not paid recognises lease payments in case of assets given on
interest on delayed realization from customers) are construction including decommissioning or
at that date for all leases unless the lease term is 12 operating leases as income on a straight line basis.
recognized only when there is reasonable certainty restoration cost wherever required. Cost of land
as to the ultimate collection and the amount can be months or less or the underlying asset is of low value. includes expenditures which are directly attributable
2.7 Non-current assets held for sale
measured reliably. to the acquisition of the land like, rehabilitation
Subsequently, right-of-use asset is measured using The Group classifies non-current assets and (or
expenses, resettlement cost and compensation
2.5 Grants from Government cost model whereas, the lease liability is measured disposal groups) as held for sale if their carrying
in lieu of employment incurred for concerned
by increasing the carrying amount to reflect interest amounts will be recovered principally through a
Government Grants are not recognised until there displaced persons etc.
on the lease liability, reducing the carrying amount to sale rather than through continuing use. Actions
is reasonable assurance that the Group will comply
reflect the lease payments made and re-measuring required to complete the sale should indicate that it After recognition, an item of all other Property,
with the conditions attached to them and that there
the carrying amount to reflect any reassessment or is unlikely that significant changes to the sale will be plant and equipment are carried at its cost less any
is reasonable certainty that grants will be received.
lease modifications made or that the decision to sell will be withdrawn. accumulated depreciation and any accumulated
Government grants are recognised in Statement Management must be committed to the sale impairment losses under Cost Model. The cost of an
The lease liability is initially measured at amortized expected to be completed within one year from the
of Profit and Loss on a systematic basis over item of property, plant and equipment comprises:
cost at the present value of the future lease date of classification.
the periods in which the Group recognises the
payments. The lease payments are discounted using (a) its purchase price, including import duties and
related expenses or costs for which the grants are
the interest rate implicit in the lease or, if not readily For these purposes, sale transactions include non-refundable purchase taxes, after deducting
intended to compensate.
determinable, using the incremental borrowing rates exchanges of non-current assets for other non- trade discounts and rebates.
Government Grants related to assets are presented in of these leases. Lease liabilities are premeasured with current assets when the exchange has commercial
the balance sheet by setting up the grant as deferred a corresponding adjustment to the related right of substance. The criteria for held for sale classification (b) any costs directly attributable to bringing the
income and are recognised in Statement of Profit and use asset if the Group changes its assessment if is regarded met only when the assets or disposal asset to the location and condition necessary
Loss on systematic basis over the useful life of asset. whether it will exercise an extension or a termination group is available for immediate sale in its present for it to be capable of operating in the manner
option. Lease liability and ROU asset are separately condition, subject only to terms that are usual and intended by management.
Grants related to income (i.e. grant related to other presented in the Balance Sheet and lease payments customary for sales of such assets (or disposal groups),
than assets) are presented as part of statement of (c) the initial estimate of the costs of dismantling
are classified as financing cash flows. Lease liability its sale is highly probable; and it will genuinely be
profit and loss under the head ‘Other Income’. and removing the item and restoring the site on
obligations is presented separately under the head sold, not abandoned. The Group treats sale of the
which it is located, the obligation for which the
A government grant/assistance that becomes “Financial Liabilities”. asset or disposal group to be highly probable when:
Group incurs either when the item is acquired
receivable as compensation for expenses or losses or as a consequence of having used the item
Finance charges are recognised in finance costs in The appropriate level of management is
already incurred or for the purpose of giving
the Statement of Profit and Loss, unless the costs committed to a plan to sell the asset (or during a particular period for purposes other
immediate financial support to the Group with no
are included in the carrying amount of another asset disposal group), than to produce inventories during that period.
future related costs, is recognised in profit or loss of
applying other applicable standards.
the period in which it becomes receivable. (d) Interest on Borrowings utilized to finance the
An active programme to locate a buyer and
Right-of-use asset is depreciated over the useful life complete the plan has been initiated construction of qualifying assets are capitalised
The Government grants or grants in the nature
of the asset, if the lease transfers ownership of the as part of cost of the asset until such time that
of promoter’s contribution is recognised directly
the asset is ready for its intended use.
422 423
Each part of an item of property, plant and equipment represent the period over which the management its obligation for Mine Closure, Site Restoration and surveying transportation and infrastructure
with a cost that is significant in relation to the total expects to use the asset. Hence the useful lives of Decommissioning based upon detailed calculation requirements;
cost of the item is depreciated separately. However, the assets may be different from the useful lives and technical assessment of the amount and
Conducting market and finance studies.
significant part(s) of an item of PPE having same as prescribed under Part C of Schedule II of the timing of the future cash spending to perform the
useful life and depreciation method are grouped companies act, 2013. required work. Mine Closure expenditure is provided The above includes employee remuneration, cost of
together in determining the depreciation charge. as per approved Mine Closure Plan. The estimates materials and fuel used, payments to contractors etc.
The estimated useful life of the assets is reviewed at of expenses are escalated for inflation, and then
Costs of the day to-day servicing described as the end of each financial year. discounted at a discount rate that reflects current As the intangible component represents an
‘repairs and maintenance’ are recognised in the market assessment of the time value of money and insignificant/indistinguishable portion of the overall
statement of profit and loss in the period in which The residual value of Property, plant and equipment expected tangible costs to be incurred and recouped
the risks, such that the amount of provision reflects
the same are incurred. is considered as 5% of the original cost of the asset from future exploitation, these costs along with
the present value of the expenditures expected
except for some items of assets such as other land, other capitalised exploration costs are recorded as
to be incurred to settle the obligation. The Group
Subsequent cost of replacing parts which are site restoration asset, other mining infrastructure, exploration and evaluation assets.
records a corresponding asset associated with the
significant in relation to the total cost of an item of surveyed off assets. Useful life has been technically
liability for final reclamation and mine closure. The
property, plant and equipment are recognised in the estimated to be one year with nil residual value for Exploration and evaluation costs are capitalised on a
obligation and corresponding assets are recognised
carrying amount of the item, if it is probable that items such as Coal tub, winding ropes, haulage ropes, project-by-project basis pending the determination
in the period in which the liability is incurred. The
future economic benefits associated with the item stowing pipes and safety lamps etc. of technical feasibility and commercial viability of the
asset representing the total site restoration cost (as
will flow to the Group; and the cost of the item can project and disclosed as a separate line item under
Depreciation on the assets added/disposed of during estimated by Central Mine Planning and Design
be measured reliably. The carrying amount of those non-current assets. They are subsequently measured
the year is provided on pro-rata basis with reference Institute Limited) as per the mine closure plan is
parts that are replaced is derecognised in accordance at cost less accumulated impairment/provision.
to the month of addition / disposal. recognised as a separate item in PPE and amortised
with the derecognition policy mentioned below.
over the balance project/mine life. Once proved reserves are determined and the
When major inspection is performed, its cost is Value of “Other Land” includes land acquired under development of mines/projects are sanctioned,
Coal Bearing Area (Acquisition & Development) (CBA) The value of the provision is progressively increased
recognised in the carrying amount of the item of exploration and evaluation assets are transferred
Act, 1957, Land Acquisition Act, 1894, Right to Fair over time as the effect of discounting unwinds;
property, plant and equipment as a replacement if it to “Development” under capital work in progress.
Compensation and Transparency in Land Acquisition, creating an expense recognised as a financial expense.
is probable that future economic benefits associated However, if proved reserves are not determined, the
with the item will flow to the Group; and the cost of Rehabilitation and Resettlement (RFCTLAAR) exploration and evaluation asset is derecognised.
Further, a specific escrow fund account is maintained
the item can be measured reliably. Any remaining Act, 2013, Long term transfer of government land
for this purpose as per the approved mine closure plan. 2.11 Development Expenditure
carrying amount of the cost of the previous inspection etc., which are amortised on the basis of the balance
(as distinct from physical parts) is derecognised. life of the project; and in case of Leasehold land such The progressive mine closure expenses incurred When proved reserves are determined and the
amortisation is based on lease period or balance life on year to year basis forming part of the total development of mines/projects are sanctioned,
An item of Property, plant or equipment is derecognised of the project whichever is lower. mine closure obligation are initially recognised as capitalised exploration and evaluation cost is
upon disposal or when no future economic benefits receivable from the escrow account and thereafter recognised as assets under construction and
are expected from the continuing use of assets. Any Assets that are fully depreciated and retired from
adjusted with the obligation in the year in which the disclosed as a component of capital work in progress
gain or loss arising on such derecognition of an item active use are disclosed separately as surveyed off
amount is withdrawn after the concurrence of the under the head “Development”. All subsequent
of property plant and equipment is recognised in the assets at its residual value under Property, Plant
certifying agency. development expenditure is also capitalised. The
statement of profit and Loss. Equipment and are tested for impairment.
development expenditure capitalised is net of
2.10 Exploration and Evaluation Assets proceeds from the sale of coal extracted during the
Depreciation on property, plant and equipment, Capital Expenses incurred by the Group on the
construction/development of certain assets which Exploration and evaluation assets comprise costs that development phase.
except freehold land, is provided as per cost model
are essential for production, supply of goods or are attributable to the search for coal and related
on straight line basis over the estimated useful lives Commercial Operation
for the access to any existing Assets of the Group resources, pending the determination of technical
of the asset as follows:
are recognised as Enabling Assets under Property, feasibility and the assessment of commercial viability The project/mines are brought to revenue; when
Assets Useful Life Plant and Equipment. of an identified resource which comprises inter commercial readiness of a project/mine to yield
alia the following: production on a sustainable basis is established either
Other Land Transition to Ind AS on the basis of conditions specifically stated in the
(incl. Leasehold Land) Life of the project or lease acquisition of rights to explore
The Group elected to continue with the carrying project report or on the basis of the following criteria:
term whichever is lower
Building (incl. Roads) 3-60 years value as per the cost model (for all of its property, researching and analysing historical
(a) From the beginning of the financial year
Telecommunication 3-9 years plant and equipment as recognised in the financial exploration data;
immediately after the year in which the project
Railway Sidings 15 years statements as at the date of transition to Ind ASs,
gathering exploration data through achieves physical output of 25% of rated
Plant and Equipment 1-40 years measured as per the previous GAAP.
topographical, geo-chemical and geo- capacity as per the approved project report, or
(incl. Railway Corridor,
2.9
Mine Closure, Site Restoration and physical studies;
others) (b) 2 years of touching coal, or
Decommissioning Obligation
Computers and Laptops 3 Years exploratory drilling, trenching, and sampling;
Office equipment 3-5 years The Group’s obligation for land reclamation (c) From the beginning of the financial year in
Furniture and Fixtures 10 years and decommissioning of structures consists of determining and examining the volume and
which the value of production is more than
Vehicles 8-10 years spending at both surface and underground mines grade of the resource;
total, expenses.
Based on technical evaluation, the management in accordance with the guidelines from the Ministry
believes that the useful lives given above best of Coal, Government of India. The Group estimates
424 425
Whichever event occurs first; Exploration and Evaluation assets attributable to 2.15.1 Financial assets 2.15.1.2.2 Debt instrument at FVTOCI
On being brought to revenue, the assets under capital blocks identified for sale or proposed to be sold to 2.15.1.1 Initial recognition and measurement A ‘debt instrument’ is classified as at the FVTOCI
work in progress are reclassified as a component outside agencies (i.e. for blocks not earmarked for if both of the following criteria are met:
All financial assets are recognised initially at fair
of property, plant, and equipment under the CIL) are however, classified as Intangible Assets and
value, in the case of financial assets not recorded a) The objective of the business model is
nomenclature “Other Mining Infrastructure”. Other tested for impairment.
at fair value through profit or loss, plus transaction achieved both by collecting contractual cash
Mining infrastructures are amortised from the year costs that are attributable to the acquisition
Expenditure on research is charged to expenditure as flows and selling the financial assets, and
when the mine is brought under revenue in 20 years of the financial asset. Purchases or sales of
and when incurred. Expenditure on development is
or the working life of the project whichever is less. financial assets that require delivery of assets b) The asset’s contractual cash flows
capitalized only if the expenditure can be measured
within a time frame established by regulation represent SPPI.
2.12 Intangible Assets and Amortisation reliably, the product or process is technically and
commercially feasible, future economic benefits are or convention in the market place (regular way Debt instruments included within the FVTOCI
Intangible assets acquired separately are measured trades) are recognised on the trade date, i.e., the
probable and the Group intends to & has sufficient category are measured initially as well as at each
on initial recognition at cost. Cost includes any date that the Group commits to purchase or sell
resources to complete development and to use or reporting date at fair value. Fair value movements
directly attributable expenses necessary to make the asset. However, trade receivables that do not
sell the asset. are recognized in the other comprehensive
the assets ready for its intended use. After initial contain a significant financing component are income (OCI). However, the Group recognizes
recognition, intangible assets are carried at cost less 2.13
Impairment of Assets (other than financial measured at transaction price. interest income, impairment losses & reversals
any accumulated amortisation and accumulated assets)
2.15.1.2 Subsequent measurement and foreign exchange gain or loss in the P&L. On
impairment losses. The Group assesses at the end of each reporting derecognition of the asset, cumulative gain or
period whether there is any indication that an asset For purposes of subsequent measurement, loss previously recognised in OCI is reclassified
Subsequent expenditure is recognized as an
may be impaired. If any such indication exists, the financial assets are classified in four categories: from the equity to P&L. Interest earned whilst
increase in the carrying amount of the asset when
Group estimates the recoverable amount of the holding FVTOCI debt instrument is reported as
it is probable that future economic benefits deriving Debt instruments at amortised cost
asset. An asset’s recoverable amount is the higher of interest income using the EIR method.
from the cost incurred will flow to the Group and the
the asset’s or cash-generating unit’s value in use and Debt instruments at fair value through
cost of the item can be measured reliably. 2.15.1.2.3 Debt instrument at FVTPL
its fair value less costs of disposal, and is determined other comprehensive income (FVTOCI)
An item of Intangible asset is derecognized upon for an individual asset, unless the asset does not FVTPL is a residual category for debt instruments.
disposal or when no future economic benefits are generate cash inflows that are largely independent Debt instruments, derivatives and equity Any debt instrument, which does not meet the
expected from its use or disposal. Gains or losses of those from other assets or groups of assets, in instruments at fair value through profit criteria for categorization as at amortized cost or
arising from the derecognition of an intangible asset which case the recoverable amount is determined or loss (FVTPL) as FVTOCI, is classified as at FVTPL.
are measured as the difference between the net for the cash-generating unit to which the asset
belongs. The group considers individual mines as Equity instruments measured at fair In addition, the Group may elect to designate
disposal proceeds and the carrying amount of the
separate cash-generating units for the purpose of a value through other comprehensive a debt instrument, which otherwise meets
asset and are recognised in the Statement of Profit
test of impairment. income (FVTOCI) amortized cost or FVTOCI criteria, as at FVTPL.
and Loss when the asset is derecognised.
However, such election is allowed only if doing
2.15.1.2.1 Debt instruments at amortised cost
Internally generated intangibles, excluding capitalised If the recoverable amount of an asset is estimated to so reduces or eliminates a measurement
development costs, are not capitalised. Instead, the be less than its carrying amount, the carrying amount A ‘debt instrument’ is measured at the amortised or recognition inconsistency (referred to as
related expenditure is recognised in the statement of the asset is reduced to its recoverable amount and cost if both the following conditions are met: ‘accounting mismatch’). The Group has not
of profit and loss and other comprehensive income the impairment loss is recognised in the Statement designated any debt instrument as at FVTPL.
a) The asset is held within a business model
in the period in which the expenditure is incurred. of Profit and Loss.
whose objective is to hold assets for Debt instruments included within the FVTPL
The useful lives of intangible assets are assessed as 2.14 Investment Property collecting contractual cash flows, and category are measured at fair value with all
either finite or indefinite. Intangible assets with finite Property (land or a building or part of a building or changes recognized in the P&L.
b) Contractual terms of the asset give rise on
lives are amortised over their useful economic lives both) held to earn rentals or for capital appreciation
specified dates to cash flows that are solely 2.15.1.2.4
Equity investments in subsidiaries, associates
and assessed for impairment whenever there is an or both, rather than for, use in the production or
payments of principal and interest (SPPI) and Joint Ventures
indication that the intangible asset may be impaired. supply of goods or services or for administrative
on the principal amount outstanding. In accordance of Ind AS 101 (First time
The amortisation period and the amortisation method purposes; or sale in the ordinary course of businesses
for an intangible asset with a finite useful life are adoption of Ind AS), the carrying amount of
are classified as an investment property. After initial measurement, such financial assets
reviewed at least at the end of each reporting period. these investments as per previous GAAP as
are subsequently measured at amortised cost
Changes in the expected useful life or the expected Investment property is measured initially at its on the date of transition is considered to be
using the effective interest rate (EIR) method.
pattern of consumption of future economic benefits cost, including related transaction costs and where the deemed cost. Subsequently Investment in
Amortised cost is calculated by taking into
embodied in the asset are considered to modify the applicable borrowing costs. subsidiaries, associates and joint ventures are
account any discount or premium on acquisition
amortisation period or method, as appropriate, and measured at cost.
Investment properties are depreciated using the and fees or costs that are an integral part of
are treated as changes in accounting estimates. The the EIR. The EIR amortisation is included in
straight-line method over their estimated useful lives. In case of consolidated financial statement,
amortisation expense on intangible assets with finite finance income in the profit or loss. The losses Equity investments in associates and joint
lives is recognised in the statement of profit and loss. 2.15 Financial Instruments arising from impairment are recognised in the ventures are accounted as per equity method as
A financial instrument is any contract that gives profit or loss. prescribed in para 10 of Ind AS 28.
An intangible asset with an indefinite useful life is
not amortised but is tested for impairment at each rise to a financial asset of one entity and a financial
reporting date. liability or equity instrument of another entity.
426 427
2.15.1.2.5 Other Equity Investment of the Group’s continuing involvement. In borrowings and payables, net of directly 2.15.2.3 Derecognition
All other equity investments in scope of Ind that case, the Group also recognises an attributable transaction costs. A financial liability is derecognised when the
AS 109 are measured at fair value through associated liability. The transferred asset obligation under the liability is discharged or
2.15.2.2 Subsequent measurement
profit or loss. and the associated liability are measured cancelled or expires. When an existing financial
on a basis that reflects the rights and The measurement of financial liabilities depends
liability is replaced by another from the same
The Group may make an irrevocable election obligations that the Group has retained. on their classification, as described below:
lender on substantially different terms, or the terms
to present in other comprehensive income Continuing involvement that takes the of an existing liability are substantially modified,
2.15.2.2.1 Financial liabilities at fair value through profit
subsequent changes in the fair value. The Group form of a guarantee over the transferred or loss such an exchange or modification is treated as
makes such election on an instrument by- asset is measured at the lower of the the derecognition of the original liability and the
original carrying amount of the asset and Financial liabilities at fair value through profit or
instrument basis. The classification is made on recognition of a new liability. The difference between
the maximum amount of consideration loss include financial liabilities held for trading
initial recognition and is irrevocable. the carrying amount of a financial liability (or part
that the Group could be required to repay. and financial liabilities designated upon initial
recognition as at fair value through profit or of a financial liability) extinguished or transferred to
All fair value changes of an equity instrument
2.15.1.4 Impairment of financial assets (other than fair loss. Financial liabilities are classified as held for another party and the consideration paid, including
classified at FVTOCI, are recognized in OCI.
value) trading if they are incurred for the purpose of any non-cash assets transferred or liabilities
There is no subsequent reclassification of fair
repurchasing in the near term. This category also assumed, shall be recognised in profit or loss.
value gains and losses to the Statement of Profit In accordance with Ind AS 109, the Group
and Loss. However, the Group may transfer the applies expected credit loss (ECL) model for includes derivative financial instruments entered 2.15.2.4 Reclassification of financial assets
cumulative gain or loss within equity. Dividends measurement and recognition of impairment into by the Group that are not designated as
The Group determines classification of financial
from such investments are recognised in the loss on the following financial assets and hedging instruments in hedge relationships as
assets and liabilities on initial recognition. After
Statement of Profit and Loss as “other income” credit risk exposure: defined by Ind AS 109. Separated embedded
initial recognition, no reclassification is made for
when the Group’s right to receive payments derivatives are also classified as held for
a) Financial assets that are debt instruments, financial assets which are equity instruments and
is established. trading unless they are designated as effective
and are measured at amortised cost e.g., financial liabilities. For financial assets which are
hedging instruments.
Equity instruments included within the FVTPL loans, debt securities, deposits, trade debt instruments, a reclassification is made only
category are measured at fair value with all receivables and bank balance Gains or losses on liabilities held for trading are if there is a change in the business model for
changes recognized in the P&L. recognised in the profit or loss. managing those assets. Changes to the business
b) Financial assets that are debt instruments model are expected to be infrequent. The
2.15.1.3 Derecognition and are measured as at FVTOCI 2.15.2.2.2 Financial liabilities at amortised cost Group’s senior management determines change
A financial asset (or, where applicable, a part After initial recognition, these are subsequently in the business model as a result of external or
c) Lease receivables under Ind AS 116
of a financial asset or part of a group of similar measured at amortised cost using the effective internal changes which are significant to the
financial assets) is primarily derecognised (i.e. d) Trade receivables or any contractual right to interest rate method. Gains and losses are Group’s operations. Such changes are evident to
removed from the balance sheet) when: receive cash or another financial asset that recognised in profit or loss when the liabilities external parties. A change in the business model
result from transactions that are within the are derecognised as well as through the effective occurs when the Group either begins or ceases
The rights to receive cash flows from the interest rate amortisation process. Amortised cost to perform an activity that is significant to its
scope of Ind AS 115.
asset have expired, or is calculated by taking into account any discount operations. If Group reclassifies financial assets, it
The Group follows ‘simplified approach’ for or premium on acquisition and fees or costs that applies the reclassification prospectively from the
The Group has transferred its rights to receive
recognition of impairment loss allowance on: are an integral part of the effective interest rate. reclassification date which is the first day of the
cash flows from the asset or has assumed
The effective interest rate amortisation is included immediately next reporting period following the
an obligation to pay the received cash flows Trade receivables or contract revenue as finance costs in the statement of profit and loss. change in business model. The Group does not
in full without material delay to a third receivables; and restate any previously recognised gains, losses
party under a ‘pass-through’ arrangement;
(including impairment gains or losses) or interest.
and either (a) the Group has transferred All lease receivables resulting from
substantially all the risks and rewards transactions within the scope of Ind AS 116 The following table shows various reclassification and how they are accounted for
of the asset, or (b) the Group has neither
The application of simplified approach does not Original Revised
transferred nor retained substantially all Accounting treatment
classification classification
require the Group to track changes in credit risk.
the risks and rewards of the asset, but has
Rather, it recognises impairment loss allowance Amortised FVTPL Fair value is measured at reclassification date. Difference between previous
transferred control of the asset.
based on lifetime ECLs at each reporting date, cost amortized cost and fair value is recognised in P&L.
right from its initial recognition. FVTPL Amortised Fair value at reclassification date becomes its new gross carrying amount. EIR
When the Group has transferred its rights
Cost is calculated based on the new gross carrying amount.
to receive cash flows from an asset or has
2.15.2 Financial liabilities Amortised FVTOCI Fair value is measured at reclassification date. Difference between previous amortised
entered into a pass-through arrangement,
2.15.2.1 Initial recognition and measurement cost cost and fair value is recognised in OCI. No change in EIR due to reclassification.
it evaluates if and to what extent it
FVTOCI Amortised Fair value at reclassification date becomes its new amortised cost carrying amount.
has retained the risks and rewards of The Group’s financial liabilities include trade and
cost However, cumulative gain or loss in OCI is adjusted against fair value. Consequently,
ownership. When it has neither transferred other payables, loans and borrowings including
the asset is measured as if it had always been measured at amortised cost.
nor retained substantially all of the risks bank overdrafts.
FVTPL FVTOCI Fair value at reclassification date becomes its new carrying amount. No other
and rewards of the asset, nor transferred
All financial liabilities are recognised initially adjustment is required.
control of the asset, the Group continues to
at fair value and, in the case of loans and FVTOCI FVTPL Assets continue to be measured at fair value. Cumulative gain or loss previously
recognise the transferred asset to the extent
recognized in OCI is reclassified to P&L at the reclassification date.
428 429
2.15.2.5 Offsetting of financial instruments which case they are capitalised as part of the cost The measurement of deferred tax liabilities and reduced by the fair value of plan assets, if any.
of related asset up to the date when the qualifying assets reflects the tax consequences that would The discount rate is based on the prevailing
Financial assets and financial liabilities are
asset is ready for its intended use. follow from the manner in which the Group expects, market yields of Indian Government securities
offset and the net amount is reported in the
at the end of the reporting period, to recover or settle as at the reporting date that have maturity
consolidated balance sheet if there is a currently
2.17 Taxation the carrying amount of its assets and liabilities. dates approximating the terms of the Group’s
enforceable legal right to offset the recognised
Income tax expense represents the sum of the tax obligations and that are denominated in
amounts and there is an intention to settle on Current and deferred tax are recognised in profit
payable for the year and deferred tax. the same currency in which the benefits are
a net basis, to realise the assets and settle the or loss, except when they relate to items that are expected to be paid.
liabilities simultaneously. recognised in other comprehensive income or directly
Current tax is the amount of income taxes payable
(recoverable) in respect of the taxable profit (tax loss) in equity, in which case, the current and deferred tax The application of actuarial valuation involves
2.15.2.6 Fair value measurement of financial instruments
for a period. Taxable profit differs from “profit before are also recognised in other comprehensive income making assumptions about the discount rate,
Fair value is the price that would be received or directly in equity respectively. Where current tax expected rates of return on assets, future salary
income tax” as reported in the statement of profit
to sell an asset or paid to transfer a liability or deferred tax arises from the initial accounting for increases, mortality rates etc. Due to the long-
and loss and other comprehensive income because
in an orderly transaction between market a business combination, the tax effect is included in term nature of these plans, such estimates
it excludes items of income or expense that are
participants at the measurement date under the accounting for the business combination. are subject to uncertainties. The calculation is
taxable or deductible in other years and it further
current market conditions. performed at each balance sheet by an actuary
excludes items that are never taxable or deductible.
Deferred income tax assets and liabilities are offset using the projected unit credit method. When
The Group categorizes assets and liabilities The Group’s liability for current tax is calculated using
when there is a legally enforceable right to offset the calculation results in the benefit to the
measured at fair value into one of three levels tax rates that have been enacted or substantively
current tax assets against current tax liabilities, and Group, the recognised asset is limited to the
depending on the ability to observe inputs enacted by the end of the reporting period.
when the deferred income tax assets and liabilities present value of the economic benefits available
employed for such measurement: relate to income taxes levied by the same taxation in the form of any future refunds from the plan
Deferred tax liabilities are generally recognised
for all taxable temporary differences. Deferred tax authority on either the taxable entity or different or reduction in future contributions to the plan.
(a) Level 1: inputs are quoted prices
assets are generally recognised for all deductible taxable entities where there is an intention to settle An economic benefit is available to the Group if
(unadjusted) in active markets for identical
temporary difference to the extent that it is probable the balances on a net basis. it is realisable during the life of the plan, or on
assets or liabilities.
that taxable profits will be available against which settlement of plan liabilities.
those deductible temporary differences can be 2.18 Employee Benefits
(b) Level 2: inputs other than quoted prices
Re-measurement of the net defined benefit
included within level 1 that are observable utilised. Such assets and liabilities are not recognised 2.18.1 Short-term Benefits
liability, which comprises actuarial gain and
either directly or indirectly for the if the temporary difference arises from goodwill or

Short-term employee benefits are employee benefits losses considering the return on plan assets
asset or liability. from the initial recognition (other than in a business
(other than termination benefits) that are expected (excluding interest) and the effects of the assets
combination) of other assets and liabilities in a
to be settled wholly before twelve months after the ceiling (if any, excluding interest) are recognised
(c) Level 3: inputs for the asset or liability which transaction that affects neither the taxable profit nor
end of the annual reporting period in which the immediately in the other comprehensive
are not based on observable market data the accounting profit.
employees render the related service. income. The Group determines the net interest
(unobservable inputs).
Deferred tax liabilities are recognised for taxable All short-term employee benefits are recognized expense (income) on the net defined benefit
The Group has an established control framework temporary differences associated with investments in in the period in which the services are liability (asset) for the period by applying the
with respect to the measurement of fair values. subsidiaries and associates, except where the Group is discount rate used to measure the defined
rendered by employees.
This includes a finance team that has overall able to control the reversal of the temporary difference benefit obligation at the beginning of the
responsibility for overseeing all significant fair and it is probable that the temporary difference will 2.18.2 Post-employment benefits and other long term annual period to the then net defined benefit
value measurements who regularly review not reverse in the foreseeable future. Deferred tax employee benefits liability (asset), taking into account any changes
significant unobservable inputs, valuation assets arising from deductible temporary differences in the net defined benefit liability (asset) during
2.18.2.1 Defined contributions plans the period as a result of contributions and
adjustments and fair value hierarchy under associated with such investments and interests are
which the valuation should be classified. only recognised to the extent that it is probable that A defined contribution plan is a post- benefit payments. Net interest expense and
there will be sufficient taxable profits against which employment benefit plan under which the other expenses related to defined benefit plans
2.15.3 Cash and Cash equivalents to utilise the benefits of the temporary differences. Group pays a fixed contribution into a fund are recognised in profit and loss.
Cash and cash equivalents in the balance sheet maintained by a separate body and the Group
The carrying amount of deferred tax assets is reviewed will have no legal or constructive obligation to pay When the benefits of the plan are improved,
comprise cash at banks and on hand and the portion of the increased benefit relating
short-term deposits with an original maturity at the end of each reporting period and reduced to further amounts. Obligations for contributions
the extent that it is no longer probable that sufficient to defined contribution plans are recognised as to past service by employees is recognised as
of three months or less, which are subject to an expense immediately in the statement of
an insignificant risk of changes in value. For taxable profits will be available to allow all or part of an employee benefit expense in the statement
the asset to be recovered. Unrecognised deferred tax of profit and loss in the periods during which profit and loss.
the purpose of the consolidated statement of
cash flows, cash and cash equivalents consist of assets are reassessed at the end of each reporting services are rendered by employees. 2.18.3 Other long-term employee benefits
cash and short-term deposits, as defined above, year and are recognised to the extent that it has
become probable that sufficient taxable profit will 2.18.2.2 Defined benefits plans Other long-term employee benefits are all employee
net of outstanding bank overdrafts as they
be available to allow all or part of the deferred tax benefits other than short-term employee benefits,
are considered an integral part of the Group’s A defined benefit plan is a post-employment
asset to be recovered. post-employment benefits and termination benefits.
cash management. benefit plan other than a defined contribution
plan. The Group’s net obligation in respect Other long-term employee benefits include items
2.16. Borrowing Costs Deferred tax assets and liabilities are measured at
of defined benefit plans is calculated by which are not expected to be settled wholly
the tax rates that are expected to apply in the period
Borrowing costs are expensed as and when incurred estimating the amount of future benefit that before twelve months after the end of the annual
in which the liability is settled or the asset is realised,
except where they are directly attributable to the employees have earned in return of their service reporting period in which the employees render the
based on tax rate (and tax laws) that have been
acquisition, construction or production of qualifying in the current and prior periods. The benefit is related service.
enacted or substantively enacted by the end of the
assets i.e. the assets that necessarily takes substantial discounted to determine its present value and
reporting period.
period of time to get ready for its intended use, in
430 431
For other long-term employee benefits, net total of production phase can give rise to two benefits, 2.22
Provisions, Contingent Liabilities and volume of overburden over expected volume thereof.
the following amounts is recognized in the statement the extraction of coal in the current period and Contingent Assets Such reversal is specific to mines at the rate the said
provision has been recognized.
of profit or loss: improved access to coal which will be extracted in Provisions are recognized when the Group has a
future periods. Stripping costs during the production present obligation (legal or constructive) as a result
(a) Service cost
2.25 Judgements, Estimates and Assumptions
phase are allocated between the inventory produced of a past event, and it is probable that an outflow
and the stripping activity asset using a standard of economic benefits will be required to settle the The preparation of the financial statements in
(b)
Net interest on the net defined benefit conformity with Ind AS requires management to
strip ratio (overburden-to-coal). The standard strip obligation and a reliable estimate of the amount of
liability (asset) make estimates, judgments, and assumptions that
ratio is the total volume of Overburden expected the obligation can be made. Where the time value
to be removed over the life of the mine against the of money is material, provisions are stated at the affect the application of accounting policies and
(c) Re-measurements of the net defined benefit
total coal to be extracted over the life of the mine. present value of the expenditure expected to settle the reported amounts of assets and liabilities, the
liability (asset)
When the actual volume of overburden removed is the obligation. disclosures of contingent assets and liabilities at
2.19 Foreign Currency greater than the expected volume of overburden the date of financial statements and the amount
removal, the stripping cost for excess overburden All provisions are reviewed at each balance sheet date of revenue and expenses during the reported
Transactions in foreign currencies are converted and adjusted to reflect the current best estimate. period. Application of accounting policies involving
removed over the expected overburden removal
into the reported currency of the Group using the complex and subjective judgements and the use
is capitalised to the stripping activity asset. The
exchange rate prevailing at the transaction date. Where it is not probable that an outflow of economic of assumptions in these financial statements have
stripping activity asset is amortised over the life of
Monetary assets and liabilities denominated in benefits will be required, or the amount cannot be been disclosed. Accounting estimates could change
the mine. Changes in geo-mining conditions may
foreign currencies outstanding at the end of the estimated reliably, the obligation is disclosed as a from period to period. Actual results could differ
have an impact on the standard strip ratio. Changes
reporting period are translated at the exchange rates contingent liability, unless the probability of outflow from those estimates. Estimates and underlying
to the ratio are accounted for prospectively. Stripping
prevailing as at the end of reporting period. Exchange of economic benefits is remote. Possible obligations, assumptions are reviewed on an ongoing basis.
activity asset are shown separately under Property,
differences arising on the settlement of monetary whose existence will only be confirmed by the Revisions to accounting estimates are recognised in
plant, and equipment.
assets and liabilities or on translating monetary occurrence or non-occurrence of one or more future the period in which the estimates are revised and, if
assets and liabilities at rates different from those Stripping activity asset for stripping costs during uncertain events not wholly within the control of material, their effects are disclosed in the notes to
at which they were translated on initial recognition the production phase are recognised in the mines the Group, are also disclosed as contingent liabilities the financial statements.
during the period or in previous financial statements with a rated capacity of one million Tonnes per unless the probability of outflow of economic
are recognised in statement of profit and loss in the annum and above. benefits is remote. 2.25.1 Judgements
period in which they arise.
In the process of applying the Group’s accounting
2.21 Inventories Contingent assets are possible assets that arise from
Non-monetary items denominated in foreign policies, management has made the following
past events and whose existence will be confirmed
currency are valued at the exchange rates prevailing 2.21.1 Stock of Coal judgments, which have the most significant effect on
only by the occurrence or non-occurrence of one or
on the date of transactions. the amounts recognised in the financial statements:
Inventories of coal/coke are stated at lower of cost more uncertain future events not wholly within the
and net realisable value. The cost of inventories are control of the Group. Contingent assets are disclosed 2.25.1.1 Formulation of Accounting Policies
2.20 Stripping Activity calculated using the Weighted Average method. Net in the financial statements when inflow of economic
In case of opencast mining, the mine waste materials realisable value represents the estimated selling price benefits is probable on the basis of the judgment Accounting policies are formulated in a manner that
(“overburden”) which consists of soil and rock on the of inventories less all estimated costs of completion of management. These are assessed continually to results in financial statements containing relevant
top of coal seam is required to be removed to get and costs necessary to make the sale. ensure that developments are appropriately reflected and reliable information about the transactions,
access to the coal and its extraction. The process of in the financial statements. other events and conditions to which they apply.
removing overburden to access coal is referred to as Book stock of coal is considered in the accounts Those policies need not be applied when the effect
stripping. Stripping is necessary to obtain access to where the variance between book stock and 2.23 Earnings per share of applying them is immaterial.
coal and occurs throughout the life of an opencast measured stock is up to +/- 5% and in cases where
Basic earnings per share are computed by dividing In the absence of an Ind AS that specifically applies to
mine. Stripping costs during development and the variance is beyond +/- 5% the measured stock is
the net profit after tax by the weighted average a transaction, other event or condition, management
production phases are classified in property, plant, considered. Such stocks are valued at net realisable
number of equity shares outstanding during the has used its judgment in developing and applying an
and equipment. Stripping costs are accounted for value or cost whichever is lower. Coke is considered
period. Diluted earnings per shares is computed by accounting policy that results in information that is:
separately for individual mines. as a part of the stock of coal.
dividing the profit after tax by the weighted average
Coal & coke-fines are valued at lower of cost or number of equity shares considered for deriving basic a) relevant to the economic decision-making
The Group accounts for stripping activities as follows:
net realisable value and considered as a part of earnings per shares and also the weighted average needs of users and
Stripping costs during the Development phase the stock of coal. number of equity shares that could have been issued
upon conversion of all dilutive potential equity shares. b) reliable in that financial statements: and
These are initial overburden removal costs incurred Slurry (coking/semi-coking), middling of washeries,
to obtain access to coal to be extracted. These 2.24 Stripping activity provision (Ratio Variance) (i) represent faithfully the financial position,
and by products are valued at net realisable value
costs are capitalised when it is probable that future financial performance and cash flows of the
and considered as a part of the stock of coal. Stripping activity provision recognized earlier is based
economic benefits will flow to the Group and costs Group; (ii) reflect the economic substance of
on the policy followed consistently by CIL since its
can be measured reliably. Once the production 2.21.2 Stores, Spares, and Other Inventories transactions, other events and conditions, and
inception. Stripping activity provision was recognized
phase begins, capitalised development stripping not merely the legal form; (iii) are neutral, i.e. free
The Stock of stores and spares including other or reversed based on the current ratio of OB to Coal
costs are amortised over the mine life. from bias; (iv) are prudent; and (v) are complete
inventories are valued at cost calculated on the basis as compared to the average Stripping ratio (Standard
in all material respects on a consistent basis
Stripping costs during the production phase: of the weighted average method. ratio) of the mine. This accounting method has
been substantiated and validated by a multitude of In making the judgment management refers to,
These are overburden removal costs incurred after Provisions are made at the rate of 100% for authoritative bodies and forums, including income and considers the applicability of, the following
the mine has been brought to revenue as per the unserviceable, damaged and obsolete stores and tax authorities. sources in descending order:
policy of the group. Stripping costs during the spares and at the rate of 50% for stores & spares not
moved for 5 years. The carrying amount of the stripping activity (a) the requirements in Ind ASs dealing with
provision is reversed systematically whenever the similar and related issues; and
situation of reversal arises on extraction of actual
432 433
(b) the definitions, recognition criteria and 2.25.1.3 Operating lease most relevant to other mining infrastructures. The currencies consistent with the currencies of the post-
measurement concepts for assets, liabilities, key assumptions used to determine the recoverable employment benefit obligation.
Group has entered into lease agreements. The Group
income, and expenses in the Framework. amount for the different CGUs, are disclosed and
has determined, based on an evaluation of the The mortality rate is based on publicly available
further explained in respective notes.
terms and conditions of the arrangements, such as mortality tables of the country. Those mortality
In making the judgment, management
the lease term not constituting a major part of the 2.25.2.2 Taxes tables tend to change only at interval in response to
considers the most recent pronouncements of
economic life of the commercial property and the demographic changes.
the International Accounting Standards Board Deferred tax assets are recognised for unused tax
fair value of the asset, that it retains all the significant
and in the absence thereof those of the other losses to the extent that it is probable that taxable
risks and rewards of ownership of these properties 2.25.2.4 Intangible asset under development
standard-setting bodies that use a similar profit will be available against which the losses can
and accounts for the contracts as operating leases.
conceptual framework to develop accounting be utilised. Significant management judgement is The Group capitalises intangible asset under
standards, other accounting literature, and 2.25.2 Estimates and assumptions required to determine the amount of deferred tax development for a project in accordance with the
accepted industry practices, to the extent that assets that can be recognised, based upon the likely accounting policy. Initial capitalisation of costs is based
these do not conflict with the Indian accounting The key assumptions concerning the future and on management’s judgement that technological
timing and the level of future taxable profits together
Standard and accounting policies and practices other key sources of estimation uncertainty at the and economic feasibility is confirmed, usually when
with future tax planning strategies.
as stated in above paragraph. reporting date, that have a significant risk of causing a project report is formulated and approved.
a material adjustment to the carrying amounts of 2.25.2.3 Defined benefit plans
The Group operates in the mining sector (a assets and liabilities within the next financial year, are 2.25.2.5 Provision for Mine Closure, Site Restoration and
sector where the exploration, evaluation, and described below. The Group based its assumptions The cost of the defined benefit plan and other post- Decommissioning Obligation
development production phases are based and estimates on parameters available when the employment medical benefits and the present value
of the obligations are determined using actuarial In determining the fair value of the provision for
on the varied topographical and geo-mining consolidated financial statements were prepared.
valuations. An actuarial valuation involves making Mine Closure, Site Restoration and Decommissioning
terrain spread over the lease period running Existing circumstances and assumptions about
various assumptions that may differ from actual Obligation, assumptions and estimates are made in
over decades and prone to constant changes), future developments, however, may change due to
developments in the future. These include the relation to discount rates, the expected cost of site
the accounting policies whereof have evolved market changes or circumstances arising that are
determination of the discount rate, future salary restoration and dismantling and the expected timing
based on specific industry practices supported beyond the control of the Group. Such changes are
increases and mortality rates. of those costs. The Group estimates provision using
by research committees and approved by reflected in the assumptions when they occur.
the Discounted Cash Flow (DCF) method considering
the various regulators owing to its consistent
The estimates, judgements and associated Due to the complexities involved in the valuation and life of the project/mine based on
application over the last several decades. In
assumptions are based on historical experience and its long-term nature, a defined benefit obligation is
the absence of specific accounting literature, Estimated cost per hectare as specified
other factors that are considered to be relevant. highly sensitive to changes in these assumptions. All
guidance and standards in certain specific in guidelines issued by Ministry of Coal,
Actual results may differ from these estimates. assumptions are reviewed at each reporting date. The
areas which are in the process of evolution, the Government of India
parameter most subject to change is the discount
Group continues to strive to develop accounting
Estimates and underlying assumptions are reviewed rate. In determining the appropriate discount
policies in line with the development of The discount rate (pre-tax rate) that reflect
on an ongoing basis. Revisions to accounting rate for plans operated in India, the management
accounting literature and any development current market assessments of the time value of
estimates are recognised in the period in which the considers the interest rates of government bonds in
therein shall be accounted for prospectively money and the risks specific to the liability.
estimate is revised and future periods affected.
as per the procedure laid down above more,
particularly in Ind AS 8. The application of accounting policies that require 2.26 Abbreviation used:
critical judgements and accounting estimates
2.25.1.2 Materiality a. CGU Cash generating unit l. ECL Eastern Coalfields Limited
involving complex and subjective judgements and
b. DCF Discounted Cash Flow m. BCCL Bharat Coking Coal Limited
Ind AS applies to items which are material. the use of assumptions in these consolidated financial
c. FVTOCI Fair value through Other Comprehensive n. CCL Central Coalfields Limited
Management uses judgement in deciding whether statements have been disclosed here in below: Income
individual items or groups of item are material in
2.25.2.1 Impairment of non-financial assets d. FVTPL Fair value through Profit & Loss o. SECL South Eastern Coalfields Limited
the financial statements. Materiality is judged by
e. GAAP Generally accepted accounting principles p. MCL Mahanadi Coalfields Limited
reference to the nature or magnitude or both of There is an indication of impairment if, the carrying
the items. The deciding factor is whether omitting f. Ind AS Indian Accounting Standards q. NCL Northern Coalfields Limited
value of an asset or cash generating unit exceeds g. OCI Other Comprehensive Income r. WCL Western Coalfields Limited
or misstating or obscuring an information could its recoverable amount, which is the higher of
individually or in combination with other information h. P&L Profit and Loss s. CMPDIL Central Mine Planning & Design Institute
its fair value less costs of disposal and its value in Limited
influence decisions that primary users make on the use. Group considers individual mines as separate
basis of the financial statements. Management also i. PPE Property, Plant and Equipment t. NEC North Eastern Coalfields
cash generating units for the purpose of test of j. SPPI Solely Payment of Principal and Interest u. IICM Indian Institute of Coal Management
uses judgement of materiality for determining the impairment. The value in use calculation is based on
compliance requirement of the Ind AS. Further, the k. EIR Effective Interest Rate v. CIL Coal India Limited
a DCF model. The cash flows are derived from the
Group may also be required to present separately budget for the next five years and do not include
immaterial items when required by law. restructuring activities that the Group is not yet
committed to or significant future investments that
With effect from 01.04.2019 Errors/omissions
will enhance the asset’s performance of the Cash
discovered during the year relating to prior periods
Generating Unit (CGU) being tested. The recoverable
are treated as immaterial and adjusted during the
amount is sensitive to the discount rate used for the
year, if all such errors and omissions in aggregate does
Discounted Cash Flow (DCF) model as well as the
not exceed 1% of total revenue from Operation (net
expected future cash-inflows and the growth rate
of statutory levies) as per the last audited financial
used for extrapolation purposes. These estimates are
statement of the Group.
434 435
436
NOTES TO THE FINANCIAL STATEMENTS (CONSOLIDATED)
NOTE 3.1 : PROPERTY , PLANT AND EQUIPMENT
(H in Crore)
Other
Site Plant and Stripping
Freehold Other Furniture Office Railway Mining Surveyed Rail
Restoration Equipmen Vehicles Telecomm- Activity Others Total
Land Land Building and Equipments Sidings Infrastruct- off Corridor
Costs3.1.3 3.1.1 unication Assets3.1.4
Fixtures ure Assets
Gross Carrying
Amount:
As at 1st April, 2022 835.03 16,987.84 3,660.13 5,122.52 24,660.60 289.42 263.03 421.64 417.19 1,765.26 3,639.48 13,246.92 343.45 5,552.56 4.12 77,209.19
Additions 109.28 2,562.19 397.05 1,033.07 2,316.96 34.25 76.19 85.44 34.78 142.21 908.44 1,497.24 81.29 346.25 0.06 9,624.70
Deletions/Adjustments (6.17) (28.99) (150.79) (9.39) (332.34) (9.31) (0.15) (54.65) (0.52) (89.60) (27.09) - (95.01) (1,788.25) (1.53) (2,593.79)
As at 31st March, 2023 938.14 19,521.04 3,906.39 6,146.20 26,645.22 314.36 339.07 452.43 451.45 1,817.87 4,520.83 14,744.16 329.73 4,110.56 2.65 84,240.10
As at 1st April, 2023 938.14 19,521.04 3,906.39 6,146.20 26,645.22 314.36 339.07 452.43 451.45 1,817.87 4,520.83 14,744.16 329.73 4,110.56 2.65 84,240.10
Additions 318.41 3,193.68 206.26 1,177.88 7,019.45 44.46 98.89 98.99 57.02 378.01 897.59 3,699.73 64.51 295.26 73.93 17,624.07
Deletions/Adjustments 0.02 (24.43) (93.19) (9.67) (774.31) (15.55) (6.65) (10.97) (5.28) (220.59) (64.60) - (70.56) - (0.27) (1,296.05)
As at 31st March, 2024 1,256.57 22,690.29 4,019.46 7,314.41 32,890.36 343.27 431.31 540.45 503.19 1,975.29 5,353.82 18,443.89 323.68 4,405.82 76.31 100,568.12
Accumulated
Depreciation,
Amortisation and
Impairment 3.1.5
As at 1st April, 2022 - 4,097.11 1,902.50 1,282.15 10,446.58 172.26 113.85 247.67 178.67 400.20 1,590.13 - 82.81 748.00 2.55 21,264.48
Charge for the year - 927.29 311.14 286.07 1,878.05 19.93 35.62 68.17 55.29 117.08 518.55 2,157.67 15.92 262.50 0.05 6,653.33
Deletions/Adjustments - (1.31) - (1.27) (656.18) 8.68 (3.93) (34.16) (0.52) (21.92) 20.07 - (16.35) (2.75) (2.53) (712.17)
As at 31st March, 2023 - 5,023.09 2,213.64 1,566.95 11,668.45 200.87 145.54 281.68 233.44 495.36 2,128.75 2,157.67 82.38 1,007.75 0.07 27,205.64
As at 1st April, 2023 - 5,023.09 2,213.64 1,566.95 11,668.45 200.87 145.54 281.68 233.44 495.36 2,128.75 2,157.67 82.38 1,007.75 0.07 27,205.64
Charge for the year - 1,153.22 302.80 330.81 2,044.90 20.49 51.42 72.66 60.93 108.17 517.59 1,364.45 3.13 294.57 0.42 6,325.56
Deletions/Adjustments - 0.38 (1.00) (19.36) (710.96) (13.77) (5.12) (7.29) (0.11) (55.19) (33.13) - (17.99) - 0.05 (863.49)
As at 31st March, 2024 - 6,176.69 2,515.44 1,878.40 13,002.39 207.59 191.84 347.05 294.26 548.34 2,613.21 3,522.12 67.52 1,302.32 0.54 32,667.71
Net Carrying Amount
As at 31st March, 2024 1,256.57 16,513.60 1,504.02 5,436.01 19,887.97 135.68 239.47 193.40 208.93 1,426.95 2,740.61 14,921.77 256.16 3,103.50 75.77 67,900.41
As at 31st March, 2023 938.14 14,497.95 1,692.75 4,579.25 14,976.77 113.49 193.53 170.75 218.01 1,322.51 2,392.08 12,586.49 247.35 3,102.81 2.58 57,034.46

3.1.1. Indian Institute of Coal Management :
*Property, Plant and Equipment comprising plant and equipment and related building and other assets having written down value as on 31.03.2024 of H 11.93 Crore (as on 31.03.2023 H11.06 crore)
have been let out to Indian Institute of Coal Management, a registered society under Societies Registration Act, 1860 for an annual lease rent of H.01 crore under cancellable operating lease agreement.
epreciation has been provided based on useful life as mentioned in Note 2.8. However, pending completion of technical assessment to segregate the value of certain
3.1.2. D
assets embedded within a different class of asset, depreciation has been provided on these assets on the basis of useful life of the un-segregated class of assets.
3.1.3. Land Reclamation/Site Restoration cost comprises of estimated cost to be incurred at the stage of mine closure duly escalated for inflation (5% p.a.) and then
discounted at 8 % discount rate that reflects current market rate of fair value and the risk.
3.1.4. Refer Note 16 (8) for consequential impact of reclassification and restatement for stripping activity adjustment in note 9.1 as per Ind AS 8, ‘Accounting Policies, Changes
in Accounting Estimates and Errors’ and Ind AS 1,’ Presentation of financial statements’.
3.1.5. Movement in accumulated impairment

(H in Crore)
Other
Site Stripping
Plant and Furniture Office Telecomm- Railway Mining Surveyed Rail
Freehold Other Restoration Vehicles Activity Others Total
Building Equipment and Equipments unication Sidings Infrastruct- off Assets Corridor
Land Land Costs Assets
Fixtures ure
As at 1st April, - - 1.52 2.96 43.36 - 0.02 - - - 427.41 - 82.81 - - 558.08

2022
Charge for - - - 1.17 (0.11) - (0.01) - - - 76.67 - 15.92 - - 93.64
the year
Deletions/ - - - - - - - - - - (1.90) - (16.35) - - (18.25)
Adjustments
As at 31st - - 1.52 4.13 43.25 - 0.01 - - - 502.18 - 82.38 - - 633.47
March, 2023
As at 1st April, - - 1.52 4.13 43.25 0.06 0.01 0.10 - - 502.18 - 82.38 - - 633.63
2023
Charge for - - 2.00 0.26 2.00 0.05 0.02 0.02 - - 84.55 - 3.13 - - 92.03
the year
Deletions/ - - - - - - - - - - (0.29) - (17.99) - - (18.28)
Adjustments
As at 31st - - 3.52 4.39 45.25 0.11 0.03 0.12 - - 586.44 - 67.52 - - 707.38
March, 2024
437
NOTE 3.2 : CAPITAL WORK IN PROGRESS NOTE 3.2 : CAPITAL WORK IN PROGRESS (CWIP) (Gross) (CONTD..)
Building Amount of Capital work in Progress as at 31-03-2023
Other Rail
(including Plant
Railway Mining Corridor Solar Less More
water supply, and Others Total 1-2 2-3
Sidings infrastructure/ under Project than 1 than 3 Total
roads and Equipment years years
Development Construction year years
culverts)
Gross Carrying Amount: Railway Sidings - - - 2.93 2.93
As at 1st April, 2022 1,979.71 3,240.29 1,534.68 2,947.21 2,643.91 13.23 565.65 12,924.68 Other Mining infrastructure/Development - - - 105.75 105.75
Additions 930.32 4,243.11 989.98 1,796.47 319.82 287.33 305.07 8,872.10
Capitalisation/ Deletions (959.72) (1,626.59) (133.91) (1,435.16) (2,052.12) (1.90) (96.04) (6,305.44) Total 6,829.87 4,355.16 1,483.65 2,822.66 15,491.34
As at 31st March, 2023 1,950.31 5,856.81 2,390.75 3,308.52 911.61 298.66 774.68 15,491.34
As at 1st April, 2023 1,950.31 5,856.81 2,390.75 3,308.52 911.61 298.66 774.68 15,491.34 3.2.2. Overdue for material capital-work-in progress (Gross):
Additions 904.68 5,112.31 943.88 2,324.07 44.82 377.61 25.98 9,733.35
Capitalisation/ Deletions (920.99) (4,893.48) (615.13) (3,480.53) (254.64) (63.79) (21.24) (10,249.80) To be completed in
As at 31st March, 2024 1,934.00 6,075.64 2,719.50 2,152.06 701.79 612.48 779.42 14,974.89
Accumulated Less than 1-2 2-3 More than
Impairment 1 year years years 3 years
As at 1st April, 2022 12.57 49.66 0.95 147.54 - - 0.23 210.95
Charge for the year 16.60 2.54 0.41 7.01 - - 0.02 26.58 Eastern Coalfields Limited
Deletions/Adjustments (1.72) 6.09 0.18 (13.31) - - (0.05) (8.81) Projects in progress:
As at 31st March, 2023 27.45 58.29 1.54 141.24 - - 0.20 228.72
As at 1st April, 2023 27.45 58.29 1.54 141.24 - - 0.20 228.72
Building (including water supply, roads and culverts): 5.35
Charge for the year 6.21 0.62 0.41 9.99 - - - 17.23 Plant and Equipments:
Deletions/Adjustments (0.08) (0.01) - (9.63) - - - (9.72) Construction of CHP at Jhanjra Project 107.38
As at 31st March, 2024 33.58 58.90 1.95 141.60 - - 0.20 236.23
Net Carrying Amount Railway Sidings:
As at 31st March, 2024 1,900.42 6,016.74 2,717.55 2,010.46 701.79 612.48 779.22 14,738.66 Construction of railway siding at Bansra Railway Siding at 108.19
As at 31st March, 2023 1,922.86 5,798.52 2,389.21 3,167.28 911.61 298.66 774.48 15,262.62
Kunustoria Area
3.2.1. Ageing schedule of Capital-work-in Progress (Gross): Other Mining Infrastructure:
Construction of 3&5 Incline 3.58
(H in Crore) Total 224.50 - - -
Amount of Capital work in Progress as at 31-03-2024 Bharat Coking Coal Limited
Less More Projects in progress:
1-2 2-3
than 1 than 3 Total
years years Building (including water supply, roads and culverts)
year years
2 MTPA Bhojudih NLW Washery 58.67
Projects in progress: 2.5 MTPA Patherdih NLW Washery 16.23
Building (including water supply, roads and culverts) 652.03 674.60 66.90 539.65 1,933.18
Plant and Equipment
Plant and Equipments 1,680.55 1,299.11 2,398.35 683.22 6,061.23
Railway Sidings 959.27 526.85 266.01 964.44 2,716.57 Feeder breaker at Jogtha 0.66
Other Mining infrastructure/Development 825.07 451.10 477.91 343.03 2,097.11 2 MTPA Bhojudih NLW Washery 85.79
Rail Corridor under Construction 0.89 121.32 22.05 557.53 701.79 2.5 MTPA Patherdih NLW Washery 10.15
Solar Project 217.65 334.46 12.47 47.90 612.48 5 MTPA Patherdih NLW Washery 67.75
Others 5.17 0.18 - 774.07 779.42 Railway Sidings
Projects temporarily suspended:
Building (including water supply, roads and culverts) - - 0.11 0.71 0.82 CHP cum SILO, Maheshpur 53.83
Plant and Equipments - - - 14.41 14.41 2 MTPA Bhojudih NLW Washery 69.56
Railway Sidings - - - 2.93 2.93 2.5 MTPA Patherdih NLW Washery 42.58
Other Mining infrastructure/Development - - 0.51 54.44 54.95 5 MTPA Patherdih NLW Washery 20.69
Total 4,340.63 3,407.62 3,244.31 3,982.33 14,974.89 Other Mining infrastructure/Development
2 MTPA Bhojudih NLW Washery 58.37
(H in Crore) 2.5 MTPA Patherdih NLW Washery 21.18
Amount of Capital work in Progress as at 31-03-2023 5 MTPA Patherdih NLW Washery 1.19
Less More Others
1-2 2-3 Total 452.16 53.83 - 0.66
than 1 than 3 Total
years years
year years Central Coalfields Limited
Projects in progress: Projects in progress:
Building (including water supply, roads and culverts) 1,072.28 172.35 312.58 392.71 1,949.92 Building (including water supply, roads and culverts)
Plant and Equipments 2,496.67 1,811.98 629.54 904.20 5,842.39 Construction of Steps Stair for Sawang C Seam 0.14
Railway Sidings 882.31 553.70 232.13 719.68 2,387.82 Building at Kuju Area 0.03
Other Mining infrastructure/Development 1,283.34 1,071.40 218.18 629.85 3,202.77 Construction of pme building at central hospital Dhori 0.17
Rail Corridor under Construction 115.89 675.56 67.71 52.45 911.61 Plant and Equipments
Solar Project 243.12 55.54 - - 298.66 Planning, Designing , Engineering _ L&T LTD 264.59
Others 736.26 14.42 23.49 0.51 774.68 Planning & Designing Services rendered by CMPDIL 0.31
Projects temporarily suspended: Preparation of Integrated bid document for seting up of konar 0.12
Building (including water supply, roads and culverts) - 0.21 0.02 0.16 0.39 Washery
Plant and Equipments - - - 14.42 14.42
438 439
NOTE 3.2 : CAPITAL WORK IN PROGRESS (CONTD..) NOTE 3.2 : CAPITAL WORK IN PROGRESS (CONTD..)
To be completed in
Less than 1-2 2-3 More than To be completed in
1 year years years 3 years Less than 1-2 2-3 More than
R&D Services provided by CMPDIL 58 Engineering day for 0.24 1 year years years 3 years
Konar Washery Other Mining infrastructure/Development
Preparation of Conceptual report and Integrated bid 2.32 Drivage Of 3 No. Cross Measure Drift 0.37
"WEIGHBRIDGE 140MT RDSO COMPLIANT, PITLESS ELECTRO 0.34 Drilling Of 1 No Tubewell 0.06
100 MT Electronic Static Road Weigh Bridge pitless 0.45 Drivage Of Incline Shaft 0.15
2X1.6 MVA, 11/3.3 KV Substation for Jarangdih OCP 0.10 Total 42.96 - - -
W/B by Ashoka metallics No 9038 to 9040 1.12 South Eastern Coalfields Limited
Railway Sidings Building (including water supply, roads and culverts)
Detailed Engineering & Construction management for the work of 265.66 Construction of 90nos of Quarters at Damini UG-Sohagpur 0.56
rail Infrastructure of north Urimari siding of CCL- Rites Ltd Construction of Lavotories-Bhatgaon 0.06
Other Mining infrastructure/Development Construction of 2 nos of 3.05 m span-Bhatgaon 0.15
Construction of Approach road for high bridge 6.54 Plant and Equipments
Diversion of Binglat Nala at Amrapali OC 0.36 33CDS Overhead line-Kusmunda 25.86
Total 542.49 - - - Diversion of 11 KV feeder-J&K 0.01
Northern Coalfields Limited Diversion of 11KV HT Line-Johilla 0.03
Building (including water supply, roads and culverts) - - - - Other Mining infrastructure/Development
Construction of new C&D type Quarters 15.38 - - - Construction of Box Culvert-Bhatgaon 0.70
Constrcution of HEMM Workshop at DCH 12.99 - - - Total 0.91 0.03 25.87 0.56
Base Workshop Construction - Block-B 40.32 - - - Mahanadi Coalfields Limited
Plant and Equipments Projects in progress:
Coal Handling Plant (10 MTPA) - Dudhichua 22.52 - - - Building (including water supply, roads and culverts)
Coal Handling Plant (9.5 MTPA) - Bina 491.53 - - - Development of MT Hostel
Dudhichua Rapid Loading System at wharwall 57.06 - - - P&L D.I pipeline in RAMPUR 0.50 -
Coal Handling Plant (2 MTPA) Amlohri 124.79 - - - Making garland drain and setting tank at coal stoc 0.36 -
Construction of 20m Via Duct at Block-B 16.07 - - - Providing and laying main pipeline at OSA colony - 0.14
Coal Handling Plant (4.5 MTPA) - Block-B 16.89 - - - Providing and laying main pipeline at OSA colony - 0.14
Coal Handling Plant (10 MTPA) - Nigahi 514.12 - - - RCC welcome gate at Basundhara 0.11 -
Railway Sidings Road 70.10 -
Railway Siding-Feasibility study for rail connectivity from 2.93 - - - Const of 928 qtrs 15.42 -
Amlori to Bargawan. Plant and Equipments
Consultancy Fees for overbridge Nigahi gate to Mine 0.51 - - - Scheme, e-NIT and estimate for providing Automatic 0.24
Railway Sidings at Dudhichua 95.10 - - - fabrication of 52set goalpost for man riding syst 0.01
Others Automatic RFID based Boom Barrier System at entry/ 2.74
Pipe Line work for industrial water Supply 0.15 - - - Recov of drive head for installation of man riding 0.02
Bina OCP Switiching Sub-Station 25.27 - - - UNDERGROUND MINE 2 CLEANING 0.11
Total 1,435.63 - - - Shifting of Wesco OH line from 33/11 substation to Polish 0.46
Western Coalfields Limited Phandi
Projects in progress: Wheel washing system of Kulda 0.74
Building (including water supply, roads and culverts) 7 no Weighbridge 1.71
Const Of Boundry Wall At Kailash Nagar 0.43 Const of RLS 303.43
Const Of Boundry Wall At Sunder Nagar 0.24 coal evacuation system by belt conveyors and disp 2.34
Construction Of Diverted Road To Gadegaon Village Along 0.51 Railway Sidings
Permanent Embankment At Penganga Ocp Of Wani Area Rail infrastructure for 6 no Bulb in Barpali 19.50
Making Boundary Wall By Chain Link Fencing For Pro 0.09 Other Mining infrastructure/Development
Construction Of Building For Housing Of 1 No. Caa 0.12 PIEZOMETER CONSTRUCTION-CMPDI 0.05 - - -
Sprinkling Arrangement At Newly Shifted Coal Stock 0.10 MDO doc. for Orient Mine No.03 0.14 - - -
Diversion Of Coal Transportation Road Fro Barrier 0.22 NIT-183- CONST OF 05 SEC. STOPPINGS 0.35 - - -
Const Of Wbm Road From Access Trench To Lod Mobile 0.18 NIT-186-CONST OF 10 SEC STOPPINGS 0.43 - - -
Const Of 100 Mtr Deep Bore Well Nmug To Oc 0.15 CONST. OF 17 SECTIONALISATION STOPPINGS 0.51 - - -
Const Of Concrete Pavement At Nmug To Oc Workshop 0.21 CONST. OF 03 AIR CROSSINGS AT OC-1&2 0.20 - - -
Const Of Switchroom For Electi Equipment At Nmoc 0.05 Construction of 04 Nos. R.C.C explosion proof Isol 0.09 - - -
Construction Of Room For Capacitor Bank 0.03 CONSTN OF 10 NOS BRICK PILLARS OC1&2 0.06 - - -
Plant and Equipments Cleaning work of UG Galleries OC1&2 0.04 - - -
Consultancy and Construction of Railway Sidings at Mungoli 40.05 Drilling of in seam bore hole at HR SecIV 0.07 - - -
Nirguda OC Mine Construction of UG Strats Bunker at 56L/2DN HR Sec 0.01 - - -
440 441
To be completed in 3.3.2. Overdue material Exploration and Evaluation
Less than 1-2 2-3 More than To be completed in
1 year years years 3 years
Less than 1 1-2 2-3 More than
Construction of Piezometers at Orient-CMPDI 0.03 - - - year years years 3 years
Road from Bankibahal to Bedhabahal 433.60 - - - Mahanadi Coalfields Limited
CMPDIL for Int. kulda Garjanbahal OCP - 15.88 - - Projects in progress:
PR preparation cost of Basundhara west extension OCP - - - 8.70 Hemgiri Sector-1 5.79
Projects temporarily suspended: Madhupur 5.22
Building (including water supply, roads and culverts) PRAJAPARA 2.02
Total 833.86 16.16 - 28.20 BAITARANI 0.01
Grand Total 3,532.51 70.02 25.87 29.42 GAUTAMDHARA 0.01
Total - - - 13.05
NOTE 3.3 : EXPLORATION AND EVALUATION ASSETS

NOTE 3.4 : INTANGIBLE ASSETS
(H in Crore)
(H in Crore)
Exploration and
Intangible
Evaluation Costs Computer Rail
Exploratory Others Total
Software Corridor
Gross Carrying Amount: Assets 3.4.2
As at 1st April, 2022 3,933.48 Gross Carrying Amount:
Additions 1,104.08 As at 1st April, 2022 48.30 87.80 - 29.33 165.43
Transfer to Capital Work in Progress/ Deletions (51.22) Additions 292.84 - 591.87 - 884.71
As at 31st March, 2023 4,986.34 Deletions/Adjustments - - 1,788.26 - 1,788.26
As at 1st April, 2023 4,986.34 As at 31st March, 2023 341.14 87.80 2,380.13 29.33 2,838.40
Additions 441.39 As at 1st April, 2023 341.14 87.80 2,380.13 29.33 2,838.40
Transfer to Capital Work in Progress/ Deletions (108.20) Additions 12.13 - 312.51 0.43 325.07
As at 31st March, 2024 5,319.53 Deletions/Adjustments (1.74) - - - (1.74)
Accumulated Impairment As at 31st March, 2024 351.53 87.80 2,692.64 29.76 3,161.73
As at 1st April, 2022 59.93 Accumulated Amortisation and Impairment
Charge for the year 1.56 As at 1st April, 2022 30.48 - - 29.33 59.81
Deletions/Adjustments - Charge for the year 52.57 - 133.93 - 186.50
As at 31st March, 2023 61.49 Deletions/Adjustments 0.01 - 3.97 - 3.98
As at 1st April, 2023 61.49 As at 31st March, 2023 83.06 - 137.90 29.33 250.29
Charge for the year 208.46 As at 1st April, 2023 83.06 - 137.90 29.33 250.29
Deletions/Adjustments - Charge for the year 57.66 36.15 99.29 0.14 193.24
As at 31st March, 2024 269.95 Deletions/Adjustments (0.01) - - - (0.01)
Net Carrying Amount As at 31st March, 2024 140.71 36.15 237.19 29.47 443.52
As at 31st March, 2024 5,049.58 Net Carrying Amount
As at 31st March, 2023 4,924.85 As at 31st March, 2024 210.82 51.65 2,455.45 0.29 2,718.21
As at 31st March, 2023 258.08 87.80 2,242.23 - 2,588.11
Exploration and Evaluation
3.3.1. Ageing schedule Exploration and Evaluation (Gross) 3.4.1. Movement in accumulated impairment
Amount in Exploration and Evaluation as at 31-03-2024 (H in Crore)
Less than 1-2 2-3 More than Intangible
Total Computer Rail
1 year years years 3 years Exploratory Others Total
Software Corridor
Projects in progress: Assets 3.4.2
Exploration and Evaluation 326.53 1,064.35 295.51 3,571.65 5,258.04 As at 1st April, 2023 - - - - -
Projects temporarily suspended: Charge for the year 36.15
Exploration and Evaluation 0.44 - 19.86 41.19 61.49 Deletions/Adjustments
Total 326.97 1,064.35 315.37 3,612.84 5,319.53 As at 31st March, 2024 - 36.15 - - -
3.4.2 R
epresents the prospecting and boring and development expenditure of H 39.8 crore in case of SECL, H 36.15
Amount in Exploration and Evaluation as at 31-03-2023
crore in case of WCL and H 7.28 crore in case of CCL related to such projects which are intended for sale to outside
Less than 1 1-2 2-3 More than parties as per directives from Ministry of Coal.
Total
year years years 3 years
Projects in progress:
Exploration and Evaluation 954.17 422.98 284.77 3,272.63 4,934.55
Projects temporarily suspended:
Exploration and Evaluation - 0.54 20.56 30.69 51.79
Total 954.17 423.52 305.33 3,303.32 4,986.34
442 443
NOTE 3.5 : INTANGIBLE ASSETS UNDER DEVELOPMENT NOTE - 4.1 : INVESTMENTS (CURRENT)
(H in Crore)
(H in Crore)
As at As at
Rail Corridor Mutual Fund (Unquoted) Units NAV (H)
ERP under 31-03-2024 31-03-2023
under Total
Development
Development3.5.1 SBI Mutual Fund - Overnight 1104540.459 3895.78 429.41 698.53
(P.Y. 1809514.529) (P.Y. 3649.25)
Carrying Amount:
SBI Mutual Fund - Ultra Magnum 2464011.341(P.Y. 5542.058 1,365.57 2,083.32
As at 1st April, 2022 183.41 - 183.41
40,38,689.331) (P.Y. 5158.42)
Additions 37.33 307.33 344.66
SBI Mutual Fund - Liquid Fund 3580902.947(P.Y. 3779.282 1,353.33 1,008.76
Capitalisation/ Deletions (220.32) 2,051.60 1,831.28 29,71,530.16) (P.Y. 3523.3)
As at 31st March, 2023 0.42 2,358.93 2,359.35 Canara Robeco Mutual Fund 49946.043 2893.527 14.46 66.04
As at 1st April, 2023 0.42 2,358.93 2,359.35 (P.Y. 244893.195) (P.Y. 2696.71)
Additions - 1,541.08 1,541.08 Union KBC Mutual Fund 189473.249 2328.516 44.12 40.27
Capitalisation/ Deletions (0.42) 321.63 321.21 (P.Y. 185567.287) (P.Y. 2169.45)
As at 31st March, 2024 0.00 4,221.64 4,221.64 Bank of Baroda Mutual Fund 158751.049 2784.781 (P.Y. 44.21 157.09
Net Carrying Amount (P.Y. 605183.757) 2595.47)
As at 31st March, 2024 0.00 4,221.64 4,221.64 Total 3,251.10 4,054.01
As at 31st March, 2023 0.42 2,358.93 2,359.35
3.5.1. The Rail corridor under development includes railway line under construction of CERL and CEWRL, subsidiaries of SECL. 4.1.1 Detail of market value of Quoted/Unquoted Investment
(H in Crore)
Intangible Assets under Development
Non-Current Current
3.5.2. Ageing schedule intangible assets under development
Amount in Exploration and Evaluation as at 31-03-2024 31-03-2024 31-03-2023 31-03-2024 31-03-2023
Less than 1-2 2-3 More than
Total Aggregate amount of unquoted investments: 3,859.31 3,085.40 3,251.10 4,054.01
1 year years years 3 years
Rail Corridor Under Development 1,109.25 1,093.58 379.53 1,639.28 4,221.64
4.1.2 Details of Investment in Co-operative shares (Unquoted)
Total 1,109.25 1,093.58 379.53 1,639.28 4,221.64 (H in Crore)
As at As at
Amount in Exploration and Evaluation as at 31-03-2023 31-03-2024 31-03-2023
Less than 1 1-2 2-3 More than
Total B class shares in Coal Mines Officers Cooperative Credit Society Limited 500 shares 0.05 0.05
year years years 3 years
of H 1000 per share (P.Y. 500 shares of H 1000 per share)
D class shares in Dishergarh colly Worker’s central co-opt store Limited 1000 shares 0.01 0.01
ERP under Development 0.42 - - - 0.42
Rail Corridor Under Development 1,128.96 379.53 242.29 608.15 2,358.93
Total 1,129.38 379.53 242.29 608.15 2,359.35 Mugma coalfield colly Worker’s central co-opt store Ltd 4000 shares of H 25 per 0.01 0.01
share (P.Y. 4000 shares of H 25 per share)
B class shares in Sodepur colly Employee’s co-opt credit society Limited 500 shares 0.005 0.005
NOTE - 4.1 : INVESTMENTS
(H in Crore) B class shares in Dhenomain colly. Employees’ co-opt credit society Limited 500 0.005 0.005
As at As at shares of H 100 per share (P.Y. 500 shares of H 100 per share)
31-03-2024 31-03-2023
4.1.3 Refer note 16 (4) for classification
NON-CURRENT
Investment in Co-operative shares (Unquoted)4.1.2 0.08 0.08
Equity Shares in Joint Ventures (Unquoted) NOTE - 4.2 : LOANS NOTE - 4.2 : LOANS (Contd..)
International Coal Venture Private Limited , New Delhi 2800000 equity share 7.75 7.75
of H 10 each fully paid (P.Y. 2800000 equity share of H 10 each fully paid)
0.09 0.08 As at As at As at As at
CIL NTPC Urja Private Limited , New Delhi 76900 equity share of H 10 each
31-03-2024 31-03-2023 31-03-2024 31-03-2023
fully paid (P.Y. 76900 equity share of H 10 each fully paid)
Talcher Fertilizers Limited, Bhubneswar, Orissa 805480826 equity share of H 10 794.54 809.30 NON-CURRENT Total 358.71 371.06
each fully paid (P.Y. 805480826 equity share of H 10 each fully paid) Loans to body corporate and CURRENT
Hidustan Urvarak & Rasayan Limited, New Delhi 2642985000 equity share of H 3,055.45 2,266.86 employees Loans to body corporate and
10 each fully paid (P.Y. 2295955000 equity share of H 10 each fully paid) - Secured, considered good 16.48 11.75 employees
Coal Lignite Urja Vikas Private Limited, Kolkata, West Bengal 10000 equity 1.40 1.33 - Unsecured, considered 87.21 86.82 - Secured, considered good 2.02 2.32
share of H 10 each fully paid (P.Y. 10000 equity share of H 10 each fully paid) good - Unsecured, considered 19.57 19.62
3,859.23 3,085.32 - Credit impaired 2.15 1.88 good
Total 3,859.31 3,085.40 105.84 100.45 - Credit impaired - 0.27
Less:
Allowance for doubtful 2.15 1.88 21.59 22.21
loans4.2.1 Less:
Allowance for doubtful - 0.27
103.69 98.57 loans4.2.1
Deferred Asset on Non Interest 255.02 272.49
Bearing Advance
444 445
NOTE - 4.2 : LOANS (Contd..) NOTE - 4.3: TRADE RECEIVABLES (Contd..)
(H in Crore) Credit impaired 3,673.52 2,722.13 As at 31-03-2023
As at As at 16,929.27 15,782.61 (H in Crore)
31-03-2024 31-03-2023 Less : Allowance for expected 3,673.52 2,722.13 Outstanding for following periods from transaction date
Unbilled
Total 21.59 21.94 credit loss4.3.2 Particulars Less than 6 months 1 1-2 2-3 More than
dues Total
Total 13,255.75 13,060.48 6 months year years years 3 years
4.2.1
The details of movement in Allowance for (i) Undisputed Trade 889.25 8,919.69 323.86 1,049.62 668.60 1,096.85 12,947.87
4.3.1 Includes receivable by Bharat Coking Coal Limited
doubtful loans balances (Current and Non- receivables – considered
Current) from SAIL H 161.58 crore (P.Y. H 139.42 crore) on
good
account of Bazaar fee, Refer note 10.2.1 (ii) Undisputed Trade - - - 0.46 1,050.24 1,050.70
(H in Crore)
As at As at Receivables – credit
4.3.2
The Group has used the practical expedient by impaired
31-03-2024 31-03-2023
computing the expected credit loss allowance based (iii) Disputed Trade - - 2.86 81.71 376.10 460.67
Balance at the beginning on a provision matrix in determining allowance Receivables–
of the year for credit losses of trade receivables. The provision considered good
Recognised during the - - matrix takes into account historical credit loss (iv) Disputed Trade 30.32 18.17 76.73 58.56 1,139.59 1,323.37
year Receivables – credit
experience and forward looking information. The
Writeback during the year - - impaired
expected credit loss allowance is based on ageing
Balance at the end of 2.15 2.15 Total 889.25 8,950.01 342.03 1,129.21 809.33 3,662.78 15,782.61
of receivables that are due and the rates used in
the year Allowance for expected 0 30.32 18.17 76.73 71.82 2,525.09 2,722.13
provision matrix. credit loss
4.2.2 For Loan to related parties - Refer Note 16 - (2)(vii) The details of movement in allowance for expected Expected credit losses (Loss 0% 0% 5% 7% 9% 69% 17%
credit loss allowance provision) - %
NOTE - 4.3: TRADE RECEIVABLES (H in Crore)

(H in Crore) As at As at NOTE - 4.4 : CASH AND CASH EQUIVALENTS NOTE - 4.5 : OTHER BANK BALANCES (Contd..)
As at As at 31-03-2024 31-03-2023 (H in Crore)
31-03-2024 31-03-2023 (H in Crore) As at As at
The details of movement
As at As at 31-03-2024 31-03-2023
Secured considered good 20.35 6.67 in allowance for expected
31-03-2024 31-03-2023
Unsecured considered 13,235.40 13,053.81 credit loss CSR Fund for Ongoing projects 13.71 17.44
Balance at the beginning 2,722.13 2,424.53 Balances with Banks Unpaid dividend accounts 16.37 15.50
good4.3.1
of the year - in Deposit Accounts 3,793.54 2,528.61 Total 24,226.46 34,294.28
Recognised during the year 1,122.54 297.60 - in Current Accounts 1,872.78 2,387.86
Writeback during the year 171.15 - Bank Balances outside India 0.24 0.12 4.5.1 Deposit for specific purposes are bank deposits
4.3.3 For dues from directors - Refer Note 16- (2)(vii)
Balance at the end of 3,673.52 2,722.13 ICDs with Primary Dealers 4.4.1 201.00 520.00 held under lien/earmarked as per courts order
the year Cheques, Drafts and Stamps - 0.09 and for other specific purposes.
4.3.4 Trade receivables above is net of Coal quality variance
on hand
of H 1056.13 Crores ( P.Y. H 731 Crores) 4.5.2 Other Bank Balances comprise Deposits - for
Cash on hand 0.01 0.01
specific purposes and bank deposits which are
Others4.4.2 141.14 190.74
expected to realise in cash within 12 months
4.3.5 Trade Receivables ageing schedule Total 6,008.71 5,627.43
after the reporting date.
As at 31-03-2024
4.4.1
ICDs with Primary Dealers are Inter-Corporate
(H in Crore) Deposits accepted by the Primary Dealers with an NOTE - 4.6 : OTHER FINANCIAL ASSETS
Outstanding for following periods from transaction date original maturity between 7 to 15 days from the
Unbilled (H in Crore)
Particulars date of Investment.
dues Less than 6 months 1-2 2-3 More than As at As at
Total
6 months 1 year years years 3 years 4.4.2
Others include e-procurement account, GeM 31-03-2024 31-03-2023
(i) Undisputed Trade receivables – 3,024.14 8,323.65 1,175.29 553.55 13.69 164.76 13,255.08 account, Imprest balances.
NON-CURRENT
considered good 4.4.3 Cash and cash equivalents comprises cash on hand Security Deposit 553.20 503.51
(ii) Undisputed Trade Receivables - - - - - - 447.37 447.37 and at bank, sweep accounts and term deposits Less : Allowance for doubtful 22.46 22.05
which have significant increase in held with banks with original maturities of three
Security deposits4.6.1
credit risk months or less. 530.74 481.46
(iii) Undisputed Trade Receivables – - - - - - 772.02 772.02
credit impaired Bank Deposits with more 357.60 309.43
(iv) Disputed Trade Receivables– - - - 5.97 28.70 29.50 64.17 NOTE - 4.5 : OTHER BANK BALANCES than 12 months maturity
considered good Deposit in Bank under Mine 12,066.37 10,120.99
(H in Crore)
(v) Disputed Trade Receivables – credit - 57.59 20.26 59.37 43.38 2,210.03 2,390.63 Closure Plan4.6.2
As at As at
impaired 31-03-2024 31-03-2023
Deposit in Bank under 4,958.45 5,320.15
Total 3,024.14 8,381.24 1,195.55 618.89 85.77 3,623.68 16,929.27 Shifting and Rehabilitation
Allowance for expected credit loss 0 57.59 20.26 59.37 43.38 3,492.92 3,673.52 Balances with Banks
Fund scheme4.6.3
Expected credit losses (Loss allowance 0% 1% 2% 10% 51% 96% 22% Deposit accounts 23,655.61 33,407.15
17,382.42 15,750.57
provision) - % Deposit accounts (For specific 540.77 854.19
purposes 4.5.1)
446 447
NOTE - 4.6 : OTHER FINANCIAL ASSETS (Contd..) NOTE - 5.1 : INVENTORIES Less : Allowance for doubtful 7.42 8.76
advances6.1.1
(H in Crore)
8,256.87 5,262.67
(H in Crore) (H in Crore) As at As at
31-03-2024 31-03-2023
Advances other than capital
advances
31-03-2024 31-03-2023 31-03-2024 31-03-2023
Coal (Finished Goods) 7,842.16 6,376.41 Other Deposits and Advances 123.88 98.80
Other Deposit and 101.29 72.18 Add: Interest Credited 657.02 393.31 Coal at Development Projects 0.06 26.09 Less : Allowance for doubtful 5.16 5.57
Receivables4.6.4 during the year (Net of Less: Provision for diminution 296.27 297.39 deposits6.1.1
Less : Allowance for doubtful 3.76 3.76 TDS) in value 118.72 93.23
deposits and receivables4.6.1 Less: Amount Withdrawn 31.70 91.28 7,545.95 6,105.11 Progressive Mine Closure 5,343.67 4,250.23
during year
97.53 68.42 Stores, Spares and other 2,954.47 2,361.32 Expense incurred6.1.2
Balance in Escrow 12,066.37 10,120.99
Total 18,010.69 16,300.45 inventories 5.1.3 Total 13,719.26 9,606.13
Account on Closing date
Less: Provision for slow-moving, 323.19 311.75
non-moving, and obsolete 6.1.1
The details of movement in Allowance for
(H in Crore) 4.6.3
Deposit in Bank under Shifting and
inventories etc. doubtful advances, deposits and receivables
As at As at Rehabilitation Fund scheme
2,631.28 2,049.57 (Current and Non-Current)
31-03-2024 31-03-2023
Following the direction of the Ministry of Coal
Total 10,177.23 8,154.68 (H in Crore)
CURRENT the holding company has setup a fund for
Security Deposit 1.03 24.64 As at As at
implementation of action plan for shifting and 5.1.1
The details of movement in provision for
Balance with IICM 4.76 5.41 31-03-2024 31-03-2023
rehabilitation dealing with fire and stabilization of diminution in value
Interest accrued 1,226.43 716.92 unstable areas of Eastern Coal Fields Limited and Balance at the beginning 14.33 18.57
Other Deposit and Receivables 1,535.05 2,023.15 (H in Crore) of the year
Bharat Coking Coal Limited. The fund is utilized (ECL
Less : Allowance for doubtful 68.76 53.16 As at As at Recognised during the 0.12 -
and BCCL) based on implementation of approved year
deposits and receivables4.6.1 31-03-2024 31-03-2023
projects in this respect. Utilised during the year 1.87 4.24
1,466.29 1,969.99 Balance at the beginning 297.39 273.26 Balance at the end of the 12.58 14.33
Total 2,698.51 2,716.96 The coal producing subsidiaries of CIL are making of the year year
a contribution of H 6/- per tonne of their respective Recognised during the 1.17 45.34
4.6.1
The details of movement in Allowance for year 6.1.2
The above represents concurrent expenditure
coal despatch per annum to this fund, which
doubtful deposit and receivables (Current and Derecognised during the 2.29 21.21 recognised as per guidelines from Ministry of
remains in the custody of CIL, till they are disbursed/
Non-Current) year Coal, Government of India for preparation of
utilised by subsidiaries/agencies implementing the Balance at the end of 296.27 297.39 Mine Closure Plan.
(H in Crore) relevant projects. the year
As at As at 6.1.3 For dues from directors - Refer Note 16 - (2)(vii)
31-03-2024 31-03-2023 4.6.4 Coal India Limited entered into a Consortium 5.1.2 The inventory of stores and spares comprises items
Balance at the beginning 78.97 100.45 Agreement with M/s BEML Limited and M/s that fall into the categories of slow-moving, non-
of the year Damodar Valley Corporation (DVC) on 08.06.2010 moving, and obsolete etc. provisions are recognized NOTE - 6.2: OTHER CURRENT ASSETS
Recognised during the 15.66 - for acquiring specified assets of M/s Mining and for these items as per the company’s policy.
(H in Crore)
year Allied Machinery Corporation (under liquidation).
The details of movement in provisions for slow- As at As at
Writeback during the year (0.35) 21.48 The agreement, inter alia, provided for the formation
moving, non-moving and obsolete Stores, Spares, 31-03-2024 31-03-2023
Balance at the end of 94.98 78.97 of a joint venture company with a shareholding
and other inventories : Advances other than capital
the year pattern of 48:26:26 among BEML,CIL, and DVC
respectively. CIL has paid its proportionate share (H in Crore) advances
4.6.2 Deposit with bank under Mine Closure Plan As at As at Advance payment of statutory 1,519.43 1,387.59
towards bid consideration of H 100 Crores towards
31-03-2024 31-03-2023 dues
Following the guidelines from Ministry of Coal, the said acquisition based on the order passed by
Balance at the beginning 311.75 311.75 Less : Allowance for doubtful 0.04 -
Government of India for preparation of Mine Closure Hon’ble High Court of Calcutta. An amount was paid
of the year Statutory dues6.2.1
Plan, an Escrow Account has been opened. Up towards bid consideration and other miscellaneous
Recognised during the 14.24 - 1,519.39 1,387.59
to 50% of the total amount deposited including expenditure H 37.65 crore (P.Y. H 35.34 crores). Other Deposits and 18,816.68 17,837.68
year
interest accrued in the ESCROW account may Further a Company in the name of MAMC Industries
Derecognised during the 2.80 - Advances6.2.2 and 6.2.3
be released after every five years in line with the Limited (MIL) has been formed and incorporated on Less : Allowance for 43.26 55.39
year
periodic examination of the closure plan as per 25th August 2010 as a wholly owned subsidiary of
Balance at the end of 323.19 311.75 doubtful other deposits and
the Guidelines. (Refer Note 9.1 for Provision for Site BEML for the intended purpose of Joint Venture the year advances6.2.1
Restoration/Mine Closure). formation. As per the terms and condition of the 18,773.42 17,782.29
Consortium Agreement, a shareholders’ agreement 5.1.3 Other inventories above includes Stock of Workshop Progressive Mine Closure 604.16 675.20
(H in Crore) and joint venture agreement was to be executed. Jobs, Stationery, medicine, press jobs etc. Expense incurred6.1.2
As at As at However, shareholders’ agreement and joint venture Input Tax Credit receivable6.2.4 14,282.91 11,589.85
31-03-2024 31-03-2023 Total 35,179.88 31,434.93
agreement are not yet executed. NOTE - 6.1 : OTHER NON-CURRENT ASSETS
Opening Balance in 10,120.99 8,916.38
Escrow Account 4.6.5 For dues from directors - Refer Note 16 - (2)(vii) (H in Crore)
Add: Amount deposited 1,320.06 902.58 As at As at
during Year 31-03-2024 31-03-2023
Capital Advances 8,264.29 5,271.43
448 449
NOTE - 6.2: OTHER CURRENT ASSETS (Contd..) 6.2.4 The accumulated amount represents the input tax
NOTE - 7.1 : EQUITY SHARE CAPITAL (Contd..)
credit pertaining to Goods and Service Tax (GST)
6.2.1
The details of movement in Allowance for
paid on input materials/services that can be utilized % of shares No. of shares
doubtful deposits and advances (Current and Financial year of Disinvestment Mode
disinvested Disinvested
Non-Current) against the GST on output. This accumulation has
occurred as a result of the inverted tax structure. 2017-18 0.31% 19299613.00 Bharat 22-ETF
(H in Crore) 2018-19 0.23% 13991488.00 Bharat 22-ETF
As at As at 6.2.5 For dues from directors - Refer Note 16 - (2)(vii) 2018-19 3.19% 198003931.00 OFS
31-03-2024 31-03-2023 2018-19 2.21% 137311943.00 CPSE-ETF
Balance at the beginning 55.39 37.22 NOTE - 7.1 : EQUITY SHARE CAPITAL 2018-19 0.01% 681840.00 OFS
of the year 2018-19 0.38% 23779267.00 BHARAT 22-ETF
(H in Crore) 2018-19 1.37% 84592894.00 CPSE-ETF
Recognised during the 1.86 18.17
year As at As at 2018-19 0.19% 44293572.00 Buyback
31-03-2024 31-03-2023
Utilised during the year 13.95 - 2019-20 1.70% 104977641.00 CPSE ETF FFO5
Balance at the end of 43.30 55.39 Issued, Subscribed and Paid- 2019-20 0.21% 12835528.00 Bharat 22 ETF
the year up Share Capital 2019-20 2.91% 179569059.00 CPSE ETF FFO6
"6,16,27,28,327 Equity Shares 6,162.73 6,162.73 2023-24 3.00% 184881848.00 OFS
6.2.2 Includes deposit under protest and refund yet to be of H10/- each fully paid (P.Y. 2023-24 0.00% 16767.00 OFS - Employee
received for Income tax H 15483.02 crore, Sales tax 6,16,27,28,327) Equity Shares Total 2425628462.00
H788.39 crore and Service Tax cases H35.71 crore. of H10/- each fully paid"
Total 6,162.73 6,162.73 Hence the number of shares held by Government of India stood at 3890735938 shares i.e. 63.13 % of the total
6.2.3 Includes Excess CSR H 44.35 crore (P.Y.H 124.26 crore) 6162728327 number of shares outstanding as on 31-03-2024.
7.1.1 Shares in the company held by each shareholder holding more than 5% Shares 7.1.4 The Company has only one class of equity shares having a face value H 10/- per share. The holders of the equity shares
Number of % of Total % change are entitled to receive dividends as declared from time to time and are entitled to voting rights proportionate to
Name of Shareholders their share holding at the meeting of shareholders. The dividend proposed by the Board of Directors is subject to the
shares held Shares during the year
approval of the shareholders in the Annual General Meeting. In the event of liquidation, the equity shareholders are
Hon’ble President of India (Promoter) As at 31-03-2024 3890735938 63.13 -4.54% eligible to receive the remaining assets of the company after payment of all preferential amount, in proportionate
As at 31-03-2023 4075634553 66.13 to there shareholdings.
Life Insurance Corporation of India As at 31-03-2024 627589285 10.18 -7.44%
As at 31-03-2023 678015625 11.00
NOTE - 7.2 : OTHER EQUITY NOTE - 7.2 : OTHER EQUITY (Contd..)
7.1.2 Reconciliation of equity shares outstanding at the beginning and at the end of reporting period:- (H in Crore) (ii) In case of Holding Company:
As at As at
(H in Crore) Details of Capital Redemption Reserve
31-03-2024 31-03-2023
Number of
Particular Amount (a) Capital Redemption reserve 1,106.81 1,202.96 (H in Crore)
Share
(b) Capital Reserve 5,061.19 1,567.80 As at As at
Balance as on 01.04.2019 6,162,728,327 6,162.73 31-03-2024 31-03-2023
(c) General Reserve 16,984.93 18,968.17
Change during FY 2019-20 - -
(d) Retained Earnings 53,413.26 32,940.41 Non-Cumulative 904.18 Upto FY
Balance as on 31.03.2020 6,162,728,327 6,162.73
(e) Other comprehensive 0.86 0.86 10% Redeemable 2000-01
Change during FY 2020-21 - -
income that will be Preference Share
Balance as on 31.03.2021 6,162,728,327 6,162.73
Change during FY 2021-22 - - reclassified to profit or loss Capital Redemption
Balance as on 31.03.2022 6,162,728,327 6,162.73 Total 76,567.05 54,680.20 Buyback of Equity Share 108.95 FY 2016-17
Change during FY 2022-23 - - Buyback of Equity Share 44.68 FY 2018-19
(a) Capital Redemption Reserve Total 1057.81
Balance as on 31.03.2023 6,162,728,327 6,162.73
Change during FY 2023-24 - - (H in Crore)
Balance as on 31.03.2024 6,162,728,327 6,162.73 (b) Capital Reserve
As at As at
31-03-2024 31-03-2023 (H in Crore)
7.1.3 Listing of shares of Coal India Limited in Stock Exchange
Balance at the beginning 1,202.96 1,202.96 As at As at
The shares of Coal India Limited is listed in two major stock exchanges of India, viz. Bombay Stock Exchange and of the year 31-03-2024 31-03-2023
National Stock Exchange on and from 4th November,2010. Issue of bonus share (96.15) - Balance at the 1,567.80 1,566.57
Balance at the end of 1,106.81 1,202.96 beginning of the year
The details of disinvestment/Buyback of shares by Government of India is furnished below: the year Addition during the 0.31 2.63
year
% of shares No. of shares (i) As per Companies Act, 2013 Capital Redemption
Financial year of Disinvestment Mode Issue of Bonus Share 3,494.65 -
disinvested Disinvested
Reserve is created when company purchases its own Adjustment during the (1.57) (1.40)
2010-11 10.00% 631636440.00 IPO share out of free reserve or securities premium, a sum year
2013-14 0.35% 22037834.00 CPSE-ETF equal to the nominal value of the shares so purchased Balance at the end of 5,061.19 1,567.80
2014-15 10.00% 631636440.00 OFS is transferred to capital redemption reserve. The the year
2015-16 0.001% 83104.00 CPSE-ETF
reserve is utilised in accordance with the provisions
2016-17 1.25% 78842816.00 Buyback
of the section 69 of the Companies Act, 2013.
2016-17 0.92% 57156437.00 CPSE-ETF
450 451
NOTE - 7.2 : OTHER EQUITY (Contd..) NOTE - 7.2 : OTHER EQUITY (Contd..) NOTE - 7.3 : NON-CONTROLLING INTERESTS NOTE - 8.1 : BORROWINGS( Contd..)
Capital Reserve above includes difference between (ii)
Other Comprehensive Income that will not be (H in Crore) on 24.11.2017. The loan has a 14-year repayment
investment in subsidiaries and share capital of reclassified to profit or loss(i) As at As at period with a 2-year moratorium on principal. It
subsidiaries recognised on consolidation for issue of 31-03-2024 31-03-2023 is secured by mortgages, charges on assets, and
(H in Crore)
bonus shares by subsidiary companies viz. Northern Balance at the beginning of 770.69 673.79 undertakings, excluding project assets.
As at As at
Coalfields Limited (NCL), Mahanadi Coalfields Limited 31-03-2024 31-03-2023 the year
8.1.2.2 Chhattisgarh East-West Railway Limited
(MCL), South Eastern Coalfields Limited (SECL) during Share of profit for the year (33.16) (40.25)
Balance at the (596.85) (883.33) (CEWRL), a subsidiary of South Eastern
the financial year 2017-18 and during the financial beginning of the year Additional non-controlling 114.59 137.15
Coalfields Limited (SECL) secured H3976.00
year 2020-21 by CMPDIL. Further during the year Other Comprehensive (415.51) 264.46 interest arising on acquisition/
Crore Rupee Term Loan from a Consortium of
MCL, NCL and CCL have issued bonus shares of H Income during the disposal of interest & other
year Banks led by State Bank of India on 04.09.2020.
3494.65 crore utilising capital redemption reserve H adjustments
Share of other 0.06 0.03 Balance at the end of the 852.12 770.69 The loan has a 14-year repayment period with a
96.15 crore and remaining amount of H 3398.50 crore
comprehensive year 2-year moratorium on principal. It is secured by
out of general reserve.
income/(expense) of immovable properties, tangible movable assets,
joint ventures receivables, current assets, and intangible assets,
In case of Central Mine Planning & Design Institute
Adjustment during the - 21.99 NOTE - 8.1 : BORROWINGS excluding Project Assets.
Limited (CMPDIL), Grant / Funds received under S&T,
year
PRE, EMSC, CCDA etc as an implementing agency (H in Crore)
Balance at the end of (1,012.30) (596.85) 8.1.3 Non Current Term Loans From Others
and used for creation of assets are treated as Capital the year As at As at
Reserve and depreciation thereon is debited to 8.1.3.1 Loan from IRCON International Limited
Total (d(i) + (ii)) 53,413.26 32,940.41 31-03-2024 31-03-2023
Capital Reserve Account. The ownership of the asset IRCON International Limited had provided loan
Non-Current
created through grants lies with the authority from (i) Includes net actuarial gains/(losses) on defined Term Loans to Chhattisgarh East-West Railway Limited
whom the grant is received. benefit plans (net of tax) From Banks 8.1.2 (CEWRL) a subsidiary of South Eastern Coalfields
Secured 5,436.98 3,927.33 Limited (SECL), secured by first charge on future
(c) General Reserve (ii) Retained Earnings are the accumulated profit
Unsecured - 19.06 infrastructure and receivables. The repayment
(H in Crore) and loss of the Group earned till date net of From Others8.1.1 and 8.1.3 period is 5 years, excluding a moratorium period
As at As at appropriations. Unsecured 180.22 159.86 of up to 5 years. Interest rate 8.25% per annum
31-03-2024 31-03-2023 5,617.20 4,106.25 from 08.09.2020, compounded quarterly.
(iii) Refer Note 16 (8) for consequential impact of
Balance at the 18,968.17 17641.59 Current
reclassification and restatement for stripping 8.1.3.2
Loan from Chhattisgarh State Industrial
beginning of the year From Bank
activity adjustment in note 9.1 as per Ind AS Development Corporation Limited (CSIDCL)
Addition during the year 1,415.27 1326.58 8, ‘Accounting Policies, Changes in Accounting Secured
Adjustment during the (3,398.51) - Estimates and Errors’ and Ind AS 1,’ Presentation Bank overdrafts 663.25 - Chhattisgarh East-West Railway Limited
year of financial statements’. Current maturities of long- 8.57 8.48 (CEWRL), a subsidiary of South Eastern
Balance at the end of 16,984.93 18,968.17 term borrowings8.1.1 Coalfields Limited (SECL) had obtained loan
(iv) The Board of Directors of the company has 671.82 8.48 from CSIDCL. The loan is secured by the first
the year
recommended a final dividend of H 5.00 charge on infrastructure and future receivables.
(50.00%) per equity share subject to approval in 8.1.1 Loan Guaranteed by Directors and Others:
The general reserve is a free reserve that is used The repayment period is 5 years (excluding up
the forthcoming Annual General Meeting of the
from time to time to transfer profits from/to retained It includes term loan of Eastern Coalfields Limited to 5 years moratorium). Interest rate 8.25% p.a.
company. The first interim dividend of H 15.25
earnings for appropriation purposes. from Export Development Corporation, Canada thereafter with quarterly compounding.
(152.50%) per equity share and second interim
dividend of H 5.25 (52.50 %) per equity share and term loan of Mahanadi Coalfields Limited from
(d) Banque Nationale De Paris and Natexis Banque,
for the financial year 2023-24 were declared Note - 8.2: LEASE LIABILITIES
(i) Retained Earnings on 10th November 2023 and 12th February, France. These term loans are guaranteed by the
(H in Crore)
2024 respectively . President of India.
(H in Crore) As at As at
As at As at 31-03-2024 31-03-2023
(e)
Other comprehensive income that will be Repayment Schedule:
31-03-2024 31-03-2023
reclassified to profit or loss Non - Current
Balance at the 33,537.26 17,451.80 Export Development Corp. Canada: Repayment Balance at the beginning of 157.00 159.95
(i) Exchange differences on translating the financial
beginning of the year (iii) statements of a foreign operation of instalments is made semi-annually i.e. on the year
Profit for the year 37,402.29 31,763.23 January 31 and on July 31 and loan facilities Additions during the year 53.75 25.06
Interim Dividend (12,633.63) (12,479.57) (H in Crore) will be completed on September 30, 2028. Finance cost accrued during 18.04 16.09
Final Dividend (2,465.09) (1,848.82) As at As at Banque Nationale De Paris and Natexis Banque, the period
Adjustment during the - (22.80) 31-03-2024 31-03-2023
France: Repayment under these loan facilities will be Payment of lease liabilities (72.50) (44.10)
year Balance at the beginning 0.86 0.72 completed on September 30, 2030.” Balance at the closing of the 156.29 157.00
Transfer to General (1,415.27) (1,326.58) of the year year
reserve Other Comprehensive - 0.14 8.1.2 Non-Current Term Loans from Banks : Current
Balance at the end of 54,425.56 33,537.26 Income during the year 8.1.2.1 hhattisgarh East Railway Limited (CERL), a
C Balance at the beginning of 59.69 43.93
the year Balance at the end of 0.86 0.86 subsidiary of South Eastern Coalfields Limited the year
the year (SECL), secured H2443.00 Crore Rupee Term Loan Additions during the year 18.39 14.92
from a Consortium of Banks led by Indian Bank
452 453
Note - 8.2: LEASE LIABILITIES ( Contd..) Note - 8.2: LEASE LIABILITIES ( Contd..) NOTE - 8.3 : TRADE PAYABLES (Contd..)
(H in Crore) 8.2.1
Maturity Analysis of Lease Liability on an 8.3.1 Trade Payables aging schedule
As at As at undiscounted basis (Non-Current and Current):
As at 31-03-2024
31-03-2024 31-03-2023 (H in Crore)
Finance cost accrued during 0.25 - As at As at Outstanding for following periods from transaction date
31-03-2024 31-03-2023 Particulars Less than 1-2 2-3 More than
the period Total
Payment of lease liabilities (0.61) 0.84 Upto 1 Year 77.97 59.56 1 year years years 3 years
Balance at the closing of the 77.72 59.69 1-5 Years 154.49 154.84 i) MSME 157.38 - - - 157.38
More than 5 Years 13.86 16.86
year ii) Others 7,092.64 646.50 315.67 159.35 8,214.16
234.01 216.69 iii) Disputed dues -Others - - - 14.11 14.11
Total 7,250.02 646.50 315.67 173.46 8,385.65
8.2.2 Changes in the carrying value of right-of-use assets as at 31-03-2024
As at 31-03-2023
(H in Crore)
Net Carrying Net Carrying Outstanding for following periods from transaction date
Addition Deletion Depreciation/
Value at the Value at the
Particular during the year during the year Amortisation Less than 1 1-2 2-3 More than
beginning of closing of the Total
/ period period for the year year years years 3 years
the year year
Land 27.85 0.93 - 27.13 1.66 i) MSME 53.90 - - - 53.90
Vehicles 40.98 60.79 - 78.68 23.09 ii) Others 7,604.68 529.14 117.47 168.28 8,419.57
Telecommunication 120.95 7.14 - 91.81 36.28 iii) Disputed dues -Others - - - 75.71 75.71
Railway Sidings 19.25 - - 18.59 0.66 7,658.58 529.14 117.47 243.99 8,549.18
Total
8.2.2 Changes in the carrying value of right-of-use assets as at as at 31-03-2023
NOTE - 8.4 : OTHER FINANCIAL LIABILITIES 8.4.3 Others above includes unspent CSR expenses.
(H in Crore)
Net Carrying Net Carrying (H in Crore) 8.4.4 Refer note 16 (4) for classification.
Addition Deletion Depreciation/
Value at the Value at the As at As at
Particular during the year during the year Amortisation
beginning of closing of the 31-03-2024 31-03-2023
/ period period for the year
the year year NOTE - 9.1 : PROVISIONS
NON-CURRENT
Land 28.20 0.51 - 27.69 1.02 Security Deposits 3,464.67 3,201.38 (H in Crore)
Vehicles 9.63 39.47 40.98 8.11
Telecommunication 157.23 - - 120.95 36.28 Others 4.59 6.19 As at As at
Railway Sidings 19.92 - - 19.25 0.66 Total 3,469.26 3,207.57 31-03-2024 31-03-2023
Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. Each NON-CURRENT
lease generally imposes a restriction that, unless there is a contractual right for the Company to sublet the asset to CURRENT Employee Benefits
another party, the right-of-use asset can only be used by the Company. Unpaid dividends8.4.1 16.37 15.50 Gratuity 475.82 1,057.05
With the exception of short-term leases and leases of low-value underlying assets, each lease is reflected on the Security Deposits 1,757.37 1,553.47 Leave encashment 2,278.68 1,425.65
balance sheet as a right of- use asset and a lease liability. Payments made for short-term leases and leases of low Earnest Money 494.03 594.27 Post retirement medical benefits 1,713.52 1,780.75
value are expensed on a straight-line basis over the lease term. Payable for Capital Expenditure 6,884.12 5,169.81 Other employee benefits 312.51 304.26
Liability for Employee Benefits 4,767.07 3,785.32 4,780.53 4,567.71
The Group’s significant leasing arrangements include assets dedicated for use under long-term arrangements as
Others8.4.2 & 8.4.3 2,229.23 1,688.44 Other Provisions
given in the above table of Right of Use Assets.
Total 16,148.19 12,806.81 Site Restoration/Mine Closure9.1.3 8,180.20 7,784.22
8.2.3 Amounts recognised in profit or loss NOTE - 8.3 : TRADE PAYABLES Stripping Activity provision9.1.2 61,350.26 63,788.69
8.4.1
During the FY 2023-24 an amount of H 1.61 crore Others 0.02 0.01
(H in Crore) (P.Y. Nil) in respect of dividend of FY 2015-16
(H in Crore) Total 74,311.01 76,140.63
As at As at which has been transferred to Investor Education
31-03-2024 31-03-2023 As at As at
31-03-2024 31-03-2023 and Protection Fund (IEPF) as the same remained CURRENT
Depreciation and 61.69 46.07 unpaid and unclaimed for a period of seven years Employee Benefits
amortisation expense for Current
from the date of transfer of such dividend to unpaid Gratuity 913.09 1,062.05
right-of-use assets Total outstanding dues of 157.38 53.90
dividend account. Leave encashment 514.90 402.06
Interest expense on lease 18.29 16.09 micro, small and medium
Post retirement medical benefits 153.36 209.49
liabilities enterprises 8.4.2
Others - Current includes for South Eastern Other Employee Benefits9.1.4 4,601.39 13,087.79
79.98 62.16 Total outstanding dues of 8,228.27 8,495.28 Coalfields Limited H 239.94 Crore (P.Y. H468.23 Crore) 6,182.74 14,761.39
Creditors other than micro, relating to the amount realized from customers Other Provisions
8.2.4 Total Cash outflow for Leases disclosed in the small and medium enterprises and employees on account of cases pending before Others 497.84 436.79
cash flow statement Total 8,385.65 8,549.18
various courts/arbitration with interest earned on Total 6,680.58 15,198.18
(H in Crore)
bank deposits related to such liabilities and H 513.75
As at As at
31-03-2024 31-03-2023 crore (P.Y. NIL) payable to Ministry of Coal in respect
of profit accrued on Gare Pelma mines for which
Payment of finance lease (73.11) (43.26)
Coal India Ltd. was appointed as custodian akin to a
liabilities
(73.11) (43.26) designated custodian.
454 455
NOTE - 9.1 : PROVISIONS (Contd..) NOTE - 9.1 : PROVISIONS (Contd..) NOTE - 10.2 : OTHER CURRENT LIABILITIES

Reconciliation of Reclamation of Land/ Site (Contd..)
9.1.1 The details of movement in Provisions (Current and Non-Current)
restoration /Mine Closure :
The position and movement of various provisions except those relating to Gratuity, Leave encashment and Post 10.2.1
In case of Bharat Coking Coal Limited, statutory
Retirement Medical benefits which are covered under note 16 (6). (H in Crore) dues include Bazaar fee amounting to H 191.31
As at As at crore (P.Y. H 171.74 crore) which includes (i) total
Balance at the Utilised Balance at the 31-03-2024 31-03-2023 liability accrued except SAIL during the period from
charged during
beginning of during the end of
the year Site restoration provision 7,784.22 7,238.71 April 2023 to March 2024 amounting to H 29.73
the year year the year
on opening date Crores and (ii) un-realised amount of Bazaar fee
Other Employee Benefits 13392.05 3818.02 12296.17 4913.90 Addition of Site restoration 142.04 282.97 up to March 2024 from SAIL not yet paid H 161.58
Others 436.80 61.06 - 497.86 Provision Crores. Also refer note 4.3.1.
Add: Unwinding of 596.30 504.75
9.1.2 Stripping activity provision (Ratio Variance): (H in Crore) Provision charged during 10.2.2 The payment of Cess on the annual value of coal-
Stripping activity provision recognized earlier is As at As at the period bearing land is calculated using the average
based on the policy followed consistently by CIL since 31-03-2024 31-03-2023 Less: Withdrawal during 342.36 242.21 production of the two preceding years and the
its inception. Stripping activity provision (net) was Reversed during the (2,438.43) (2,137.40) the period notified sale price as of 1st April. Conversely, the
recognized or reversed based on the current ratio of year -for stripping Mine Closure Provision 8,180.20 7,784.22 revenue collected from customers is based on the
OB to Coal as compared to the average Stripping ratio activity provision value of coal dispatches.
Reversed during the - 12.28 9.1.4 As per the National Coal Wages Agreement (NCWA-
(Standard ratio) of the mine. This accounting method
year - for advance XI) for the Non-Executives, considering the total
has been substantiated and validated by a multitude NOTE - 11.1 : TAX ASSETS/LIABILITIES
stripping adjustment impact of the increase in all elements of salary and
of authoritative bodies and forums, including income
Balance at the end of 61,350.26 63,788.69 wages an estimated provision of H9252.24 crore @ (H in Crore)
tax authorities.
the year H 19,100/- per employee (Non-Executive) per month As at As at
The carrying amount of the stripping activity was recognized in the previous year . However, in 31-03-2024 31-03-2023
provision is reversed systematically whenever the (ii) Refer Note 16 (8) for reclassification and restatement June 2023 NCWA-XI has been implemented and Income Tax Assets
situation of reversal arises on extraction of actual for stripping activity adjustment as per Ind AS salary is being paid at a revised rate. Balance at the beginning 23,646.31 20,319.97
volume of overburden over expected volume thereof. 8, ‘Accounting Policies, Changes in Accounting of the year
Such reversal is specific to mines at the rate the said Estimates and Errors’ and Ind AS 1,’ Presentation of Recognised during the year 9,381.94 9,989.34
NOTE - 10.1 : OTHER NON CURRENT LIABILITIES Reversal/refund during the (3,913.44) (6,663.00)
provision has been recognized. financial statements’.
year
In the case of a mine, where the stripping activity (H in Crore)
9.1.3 Provision for Site Restoration/Mine Closure Balance at the Closing of 29,114.81 23,646.31
provision has resulted in an excess volume of As at As at
The Group’s obligation for land reclamation and 31-03-2024 31-03-2023 the year
overburden extracted over the volume of overburden
Income Tax Liabilities
expected multiplied by the opening average rate of decommissioning of structures consists of spending Shifting and Rehabilitation 6,022.06 6,456.58 Balance at the beginning 14,952.09 11,896.72
stripping activity shall be recognised as stripping at both surface and underground mines in Fund4.6.3 of the year
activity adjustment in the statement of profit and accordance with the guidelines from Ministry of Coal, Deferred Income (Government 1,236.68 14.71 Recognised during the 7,714.74 7,199.12
loss with corresponding debit to the net stripping Government of India. The estimate of obligation for Grant) year (Refer 14.1)
activity provision. Mine Closure, Site Restoration and Decommissioning Others 183.16 316.93 Reversal/Adjustment (2,488.96) (4,143.75)
based upon detailed calculation and technical Total 7,441.90 6,788.22
However no such provision keeping in view the during the year
assessment of the amount and timing of the future
policy with respect to the stripping activity now Balance at the Closing of 20,177.87 14,952.09
cash spending to perform the required work. Mine NOTE - 10.2 : OTHER CURRENT LIABILITIES
being followed (note 2.20) has further been created the year
Closure expenditure is provided as per approved Mine Net income tax asset/ 8,936.94 8,694.22
and H 65913.81 crores being the amount created till Closure Plan. The estimates of expenses are escalated (H in Crore)
(liabilities) at the end
31.03.2022 is being adjusted in systematic manner for inflation, and then discounted at a discount rate As at As at
as stated herein above. Accordingly H 2,438.43 crore 31-03-2024 31-03-2023
(@8%) that reflects current market assessment of Disclosed as:
(for the year ended 31.03.2023 H 2137.40 crore) has the time value of money and the risks, so that the Statutory Dues10.2.1 9,190.09 8,169.97
been adjusted from net stripping activity provision Advance from customers / 16,504.32 20,900.08 (H in Crore)
amount of provision reflects the present value of the
with a corresponding impact to the statement of others As at As at
expenditures expected to be required to settle the
profit and loss (refer note 13.6). Cess Equalization Account10.2.2 3,156.88 2,634.24 31-03-2024 31-03-2023
obligation. The value of the provision is progressively
increased over time as the effect of discounting Deferred Income (Government 54.41 54.03 Non Current
The details of movement in stripping activity Income Tax Assets (net) 71.14 -
unwinds; creating an expense recognised as financial Grant)
provision:
Others liabilities 204.55 367.98
(H in Crore) expenses. In reference to above guidelines for
Total 29,110.25 32,126.30 Current
As at As at preparation of mine closure plan, an escrow account
Income Tax Assets (net) 9,064.13 8,719.00
31-03-2024 31-03-2023 has been opened. (Refer Note - 4.6)
Income Tax Liabilities (net) 198.33 24.78
(i) Stripping activity 8,936.94 8,694.22
provision
Balance at the 63788.69 65,913.81
beginning of the year
456 457
NOTE - 11.2 : DEFERRED TAX ASSETS/LIABILITIES NOTE - 12.1 : REVENUE FROM OPERATIONS NOTE - 13.2 : CHANGES IN INVENTORIES OF
Recognised/ Recognised
(Contd..) FINISHED GOODS, WORK IN PROGRESS AND
Balance as STOCK IN TRADE
(reversed) in in other 12.1.5
Sales include Performance Incentive (PI) and
on Balance as on
profit and comprehensive
01-04 31-03-2024 compensation income recognised during the year (H in Crore)
loss during income during
-202311.2.1 H 2755.55 crore (P. Y.H1788.49 crore) For the Year For the Year
the year the year
Ended Ended
Deferred Tax Assets: 12.1.6 Refer note 16 (7) (i) for disaggregated revenue. 31-03-2024 31-03-2023
Provision for Doubtful Advances, Claims and Debts 1,093.15 3.66 1,089.49
Change in Inventory of coal
Employee Benefits 2,919.77 257.82 2,661.95
NOTE - 12.2 : OTHER INCOME Stock at the beginning of 6,376.41 5,719.45
Others 789.85 (76.67) 866.52
Total OF (A) 4,802.77 184.81 - 4,617.96 the year
(H in Crore) Opening Stock brought to 22.57 -
Deferred Tax Liability:
For the Year For the Year Revenue
Related to Property, Plant and Equipment and 3,068.21 (291.20) 2,777.01 Ended Ended
Intangible assets Stock at the closing of the 7,842.16 6,376.41
31-03-2024 31-03-2023
Others 555.24 (49.11) 506.13 year
Interest Income12.2.1 4,574.44 3,069.09 (1,443.18) (656.96)
Total OF (B) 3,623.45 (340.31) - 3,283.14
Other non-operating Change in Inventory of
Deferred Tax Asset/ (Deferred Tax Liability) (C= 1,179.32 (155.50) - 1,334.82
income (net of expenses workshop and press Jobs
A-B)
directly attributable to Stock at the beginning of 105.39 93.32
D.
Remeasurement of Defined benefit Plan (8.75) 22.63 15.69 (15.69)
such income) the year
DTL(+)/DTA(-)
Profit on Sale of Assets 18.85 28.13 Stock at the closing of the 183.71 105.39
Net Deferred Tax Asset/ (Deferred Tax Liability) 1,170.57 (132.87) 15.69 1,319.13
Gain on Foreign Exchange 4.78 - year
(E=C+D)
Transactions (78.32) (12.07)
Disclosed as: Gain on Sale of Mutual Fund 396.12 341.13 Total (1,521.50) (669.03)
NOTE - 12.1 : REVENUE FROM OPERATIONS Lease Rent 34.49 39.28
(H in Crore)
(H in Crore) Provision written back 23.52 71.95 13.2.1 Opening Stock of Coal in mines under development
As at As at Liabilities written back 1,131.61 1,636.54 have been transferred to revenue during the previous
31-03-2024 31-03-2023 For the Year For the Year
Ended Ended Fair value changes (Net) 29.25 (36.21) period as certain mines under development in
Deferred Tax Assets 3141.29 2814.52 31-03-2024 31-03-2023 Miscellaneous Income 1,756.02 1,409.90 WCL have become operational as per policy
Deferred Tax Liability 1822.16 1643.95 Total 7,969.08 6,559.81 of the company.
Less : Statutory levies 63.57 46.09
1319.13 1170.57
432.78 321.11
Other Operating Revenue 11,998.33 10,624.44 12.2.1
Includes interest on income tax refund H 1118.04 NOTE - 13.3 : EMPLOYEE BENEFITS EXPENSES
11.2.1Refer Note 16 (8) for reclassification and restatement
(Net) (B) crores (P.Y. H 183.36 crores)
for deferred tax impact on stripping activity provision
in note 9.1 as per Ind AS 8, ‘Accounting Policies, Revenue from Operations 1,42,323.98 1,38,251.91 (H in Crore)
Changes in Accounting Estimates and Errors’ and (A+B) NOTE - 13.1 : COST OF MATERIALS CONSUMED For the Year For the Year
Ind AS 1,’ Presentation of Financial Statements’. Ended Ended
12.1.1 Net sales (net of levies) includes H35.96 crore (P.Y. (H in Crore) 31-03-2024 31-03-2023
H 617.46 crore) on sale of 2.03 Lakh Tonne coal For the Year For the Year
Salaries and Wages13.3.1 & 13.3.2 36,824.15 38,683.36
NOTE - 12.1 : REVENUE FROM OPERATIONS related to Gare Palma IV/2&3 Mine for which Coal Ended Ended
31-03-2024 31-03-2023 Contribution to Provident 9,662.56 8,369.00
India Limited has been appointed custodian akin
(H in Crore) Fund and Other Funds
to a designated custodian w.e.f 01.04.2015 through Explosives 4,356.95 5,655.13
Staff welfare Expenses 2,295.87 2,357.81
For the Year For the Year SECL. As directed by Ministry of Coal vide F. No. Timber 12.09 14.66
Ended Ended Total 48,782.58 49,410.17
NA-710/5/2018-NA Dated 16.06.2023 SECL has Oil and Lubricants 4,459.17 5,284.00
31-03-2024 31-03-2023 HEMM Spares 1,607.34 1,435.27 13.3.1 Including allowances, bonus, incentives,
handed over the possession, management and
Sales control of the auctioned coal mine Gare Palma Other Consumable Stores 1,144.49 1,167.94 performance related pay, overtime pay, sitting fees
Sales 1,93,907.10 1,87,455.57 and Spares to independent directors etc.
IV/2&3 on 28.06.2023 to the successful bidder M/s
Less : Statutory levies 63,581.45 59,828.10 Total 11,580.04 13,557.00
Jindal Power Limited. 13.3.2 National Coal Wages Agreement (NCWA-XI) for the
Sales (Net) (A) 12.1.1, 12.1.2 and 12.1.3 1,30,325.65 1,27,627.47
Non-Executives has been implemented in June
Other Operating Revenue 12.1.2 Sale of Coal above has been increased/(decreased) 2023, and salary is being paid at a revised rate.
Subsidy for sand stowing 2.96 3.38 NOTE - 13.1(a) : PURCHASE OF STOCK-IN-TRADE Provision recognized for the year ended 31.03.2023
by estimated Coal Quality variance and surface
and protective works moisture (Net of reversal) of H (325.2)crore (P.Y. H was H 8152.74 crores. Refer note 9.1.4 .
Loading and additional 7,752.43 6,449.90 259.57 crore). (H in Crore)
13.3.3
Disclosures on ‘Employee Benefits’ in respect of
transportation charges For the Year For the Year
provision made towards various employee benefits
Less : Statutory levies 702.90 311.33 12.1.3 Sales also include sale of imported coal Nil during Ended Ended
31-03-2024 31-03-2023
except those covered under actuarial valuation, are
7,049.53 6,138.57 the year (P.Y. quantity 357006.5 tonne amounting to provided in Note 9.1.1.
Evacuation facility charges 4,738.63 4,369.60 H469.74 Crores). Purchase of Stock-in-Trade - 469.74
Less : Statutory levies 225.57 208.22 13.3.4
Disclosures on ‘Employee Benefits’ in respect
4,513.06 4,161.38 12.1.4
Revenue from other services mainly includes Purchase of Stock in Trade includes imported coal by of defined benefit plans and other long term
Revenue from other 496.35 367.20 consultancy and other services provided by CMPDIL, Coal India Limited. employee benefit plans which are covered under
actuarial valuation are disclosed in Note 16 (6).
services12.1.4 a subsidiary of CIL.
458 459
NOTE - 13.4: FINANCE COSTS NOTE - 13.6: STRIPPING ACTIVITY ADJUSTMENT NOTE - 13.8: OTHER EXPENSES (Contd..) NOTE - 13.8: OTHER EXPENSES (Contd..)
(Contd..)
(H in Crore) (H in Crore) 1956, Electricity Duty Act 1948 etc. Accordingly
For the Year For the Year volume of overburden removal, the stripping cost For the Year For the Year old pending cases of CCL and BCCL has been
Ended Ended for excess overburden removed over the expected Ended Ended settled under scheme during the year.
31-03-2024 31-03-2023 31-03-2024 31-03-2023
overburden removal is capitalised to the stripping
13.8.3 Includes ₹ 513.75 crore (P.Y. nil) for SECL payable
Interest Expenses activity asset. - For Other Services 1.36 1.31
to Ministry of Coal in respect of profit accrued on
Unwinding of discounts 579.82 546.09 - For Reimbursement of 1.35 1.18
Gare Palma mines for which Coal India Ltd. was
Fair value changes (net) 10.03 10.67 13.6.3. Refer Note 16 (8) for reclassification and restatement Expenses. appointed as custodian akin to a designated
Other Borrowing Costs13.4.1 229.52 127.55 for stripping activity adjustment as per Ind AS Internal and Other Audit 23.89 23.85 custodian. Also refer note 8.4.2
Total 819.37 684.31 8, ‘Accounting Policies, Changes in Accounting Expenses
(H in Crore)
Estimates and Errors’ and Ind AS 1,’ Presentation of Rehabilitation Charges 452.02 416.69
13.4.1
It includes accrued interest on borrwings H155.14 A.
CSR required to be spent
financial statements’. Also Refer note 9.1.2 Lease Rent and Hiring 635.64 608.14
and CSR Expenditure Break- 31-03-2024 31-03-2023
crores (P.Y. H114.88 crores) Charges8.2 up
Rates and Taxes13.8.1 1,694.35 800.47
NOTE - 13.7: CONTRACTUAL EXPENSES Insurance 9.22 9.54
(a) Amount Required to 547.59 447.32
NOTE - 13.5: DEPRECIATION/AMORTIZATION/ be spent during the
Loss on Exchange rate - 4.55
IMPAIRMENT year (2% of Average net
(H in Crore) variance
(H in Crore) For the Year For the Year Other Rescue/Safety 44.35 32.83 profits of the holding and
For the Year For the Year Ended Ended Expenses subsidiary companies
Ended Ended 31-03-2024 31-03-2023 made during the three
Siding Maintenance 127.70 120.58
31-03-2024 31-03-2023 Transportation Charges 5,492.26 5,267.41 immediately preceding
Charges
Depreciation/ Wagon Loading 273.07 268.04 Research and Development 8.67 131.66 financial years under
Amortization/Impairment Hiring of Plant and 20,930.92 17,151.11 expenses Section 135 of the
Property , Plant And 6,325.56 6,652.11 Equipments Environmental and Tree 447.13 355.50 Companies Act, 2013)
Equipment (Note 3.1) Other Contractual Work 743.63 484.01 Plantation Expenses (b) Amount approved by 644.99 591.75
Capital Work In Progress 17.23 26.58 Contractual Expenses in 157.97 118.64 Corporate Social 654.49 586.50 the Board to be spent
(Note 3.2) CMPDI13.7.1 Responsibility expenses13.8.2 during the year
Exploration And Evaluation 208.46 1.56 Total 27,597.85 23,289.21 Donations, Rewards and 24.07 87.30 (c) Amount spent during
Assets (Note 3.3) Grant the year on:
13.7.1
Drilling and exploration etc. contractual
Intangible Assets (Note 3.4) 193.24 186.50 Provisions 1,189.79 374.99 (i) Construction/ 285.26 237.71
works awarded by CMPDI to vendors outside
6,744.49 6,866.75 Write off (net of past Acquisition of any asset
group companies.
Less: provisions) (ii) on purposes 289.32 264.16
Transferred to expenditure 9.07 33.81 - Gross write off 249.82 213.37 other than (i) above
during development of coal NOTE - 13.8: OTHER EXPENSES -Write back of (168.18) (20.77) Total 574.58 501.87
mines (H in Crore) provisions, recognized
Total 6,735.42 6,832.94 (H in Crore)
For the Year For the Year earlier on write off
B.
Reconciliation of CSR
Ended Ended Write off (Net of write back 81.64 192.60
Expenses recognised 31-03-2024 31-03-2023
31-03-2024 31-03-2023 of provisions recognized
NOTE - 13.6: STRIPPING ACTIVITY ADJUSTMENT and CSR Expenses spent
Power Expense 2,876.30 2,759.89 earlier)
CSR Expenses Spent 574.58 501.87
Repairs and Maintenance Miscellaneous expenses13.8.3 1,175.48 546.02
(H in Crore) Less: Excess carried forward/ (79.91) (72.53)
- Building 929.97 884.36 Total 14,051.69 11,577.00
(Utilised/charged off)
- Plant and Equipment 993.42 856.81
Ended Ended 13.8.1 Government of Jharkhand has brought a scheme during the year
- Others 24.16 31.11
31-03-2024 31-03-2023 "The Jharkhand Karadhan Adhiniyamo ki Bakaya Add: Unspent CSR expense - 12.10
Travelling expenses 186.04 228.20
Advance Stripping - 12.28 Training Expenses 56.73 57.39 Rashi ka Samadhan Adhiniyam 2022" (in short on ongoing projects
adjustment Telephone and Internet 206.25 149.54 "Kar Samadhan Yojna 2022") for settlement of old Add: Unspent CSR expense - -
Stripping activity (2,438.44) (2,137.40) Advertisement and Publicity 57.81 33.44 arrears and disputes of JVAT Act 2005, CST Act on other than ongoing
provision 13.6.1 Freight Charges 44.14 34.92 Amount recognised in P&L 654.49 586.50
Improved access (3,699.73) (1,497.24) Demurrage 49.65 80.25 D. Excess amount spent [Section 135(5)]1
to coal13.6.2 Under Loading Charges 420.25 477.62 (H in Crore)
(6,138.17) (3,622.36) Coal Sampling Charges 188.42 286.33 Year wise Details 2023-24 2022-23 2021-22
Security Expenses 1,368.17 1,328.97 Opening Balance 124.26 111.52 48.60
13.6.1. Stripping Activity provision: Carrying amount of the Legal Expenses 34.41 28.17 Amount required to be spent during the year 524.54 374.98 388.56
ratio variance reserve is being reversed systematically Consultancy Charges 42.27 43.34 Amount spent/charged-off during the year 444.63 387.72 451.48
whenever the situation of reversal arises as per Auditor's Remuneration Closing Balance 44.35 124.26 111.52
material accounting policy of the Group. and Expenses
- For Audit Fees 2.29 2.66 1. Represents excess CSR expenses carried forward as per section 135 (5) of the companies Act, 2013 for Central
13.6.2. Improved access to coal: When the actual volume of - For Taxation Matters 0.26 0.29 Coalfields Limited, Northern Coalfields Limited, South Eastern Coalfields Limited, Mahanadi Coalfields Limited,
overburden removed is greater than the expected
Central Mine Planning and Design Institute Limited.
460 461
NOTE - 13.8: OTHER EXPENSES (Contd..) NOTE - 15.1 : OTHER COMPREHENSIVE INCOME (Contd..)
E. Unspent Ongoing Project [Section 135(6)] (year-wise) (H in Crore) (H in Crore)
For the Year For the Year For the Year For the Year
(H in Crore)
Ended Ended Ended Ended
2022-23 2021-22 31-03-2024 31-03-2023 31-03-2024 31-03-2023
Opening balance With Company - - Income tax relating to - 0.14
In Separate CSR Account 12.15 11.55 items that will not be Income tax relating
Amount required to be spent during the year - - reclassified to profit or to items that will be
Amount spent during the year from companies bank account - - reclassified to profit or
loss
In Separate CSR Account 6.92 2.80
Remeasurement of defined 108.07 (88.94) loss
Closing balance With Company - -
benefit plans Exchange differences in - -
In Separate CSR Account 5.23 8.75
108.07 (88.94) translating the financial
There has not been any unspent amount on the ongoing project during the year 2023-24. Items that will be statements of a foreign
(H in Crore) reclassified to profit or operation
Provision for Liability of CSR Expenses 31-03-2024 loss - -
Exchange differences in - 0.14 Total (415.45) 264.63
Opening Balance 178.23
translating the financial
Addition during the period 168.31
statements of a foreign 15.1.1 Represents figure in respect of Gratuity H (555.35)
Adjustment during the year 223.65
operation crores (P.Y. H 357.24 crores ) and for post retirement
Closing Balance 122.89
Share of other - - medical benefits H 31.77 crores (P.Y. H (3.84) crores).
The above information have been consolidated from the financial statements of subsidiary companies. comprehensive income/
(expense) of joint ventures
13.8.3 Includes ₹ 513.75 crore (P.Y. nil) for SECL payable to Ministry of Coal in respect of profit accrued on Gare Palma
mines for which Coal India Ltd. was appointed as custodian akin to a designated custodian. Also refer note 8.4.2
NOTE – 16: ADDITIONAL NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR
ENDED 31-03-2024
NOTE - 14.1 : TAX EXPENSE 14.1.2. During the year 2023-24, current year tax expense
I a) Contingent Liabilities
includes H 2039.98 crore , due to change in
(H in Crore) I. Claims against the group not acknowledged as debt (to the extent not provided for)
accounting of stripping activity in acordance
with ind AS 8 ‘Accounting Policies, Changes in (H in Crore)
Ended Ended
31-03-2024 31-03-2023 Accounting Estimates and Errors’. Refer Note 16 (8) . State Central
Central Government Public
Current Year 14.1.2 11,704.90 9,321.36 Others Total
14.1.3.
Refer Note 16 (8) for consequential impact of Government and Local Sector
Earlier Years (128.55) 232.72 reclassification and restatement for stripping activity authorities Enterprises
Total current tax 11,576.35 9,554.08
adjustment as per Ind AS 8, ‘Accounting Policies, Opening as on 01-04-2023 44,524.69 13,504.17 49.18 6,521.86 64,599.90
Changes in Accounting Estimates and Errors’ and Addition during the year 4,146.11 795.92 29.92 928.33 5,900.28
Deferred tax14.1.3 and 14.1.4 (132.87) 1,997.54
Ind AS 1,’ Presentation of financial statements’. Claim settled during the year:
Total 11,443.48 11,551.62
For the year ended 31.03.2023 previously reported a. From Opening Balance 20,827.17 2,520.62 - 398.19 23,745.98
14.1.1. Reconciliation of Tax Expenses: deferred tax H 486.12 crores, has been restated by H b. Out of addition during the year 21.59 51.56 1.92 1.18 76.25
1511.42 crores. Closing as on 31-03-2024 27,822.04 11,727.91 77.18 7,050.82 46,677.95
(H in Crore)
For the Year For the Year 14.1.4.
Refer Note 11.2 for component of deferred tax
(H in Crore)
Ended Ended assets/ (liabilities).
31-03-2024 31-03-2023 State Central
Central Government Public
Profit/(Loss) before tax 48812.61 43274.60 Others Total
Government and Local Sector
At income tax rate of 25.168% 12,285.16 10,891.35
NOTE - 15.1 : OTHER COMPREHENSIVE INCOME
authorities Enterprises
(31.03.2023:25.168%) (H in Crore) Opening as on 01-04-2022 37,056.69 57,479.87 50.31 4,638.84 99,225.71
Less: Tax on exempted 13.57 - For the Year For the Year Addition during the year 12,029.53 780.08 - 2,347.11 15,156.72
Income Ended Ended Claim settled during the year:
Add: Tax on non-deductible (699.56) 427.55 31-03-2024 31-03-2023
a. From Opening Balance 4,558.29 44,755.47 1.13 458.67 49,773.56
expenses/(Additional Items that will not be b. Out of addition during the year 3.24 0.31 - 5.42 8.97
expenses allowed for tax reclassified to profit or Closing as on 31-03-2023 44,524.69 13,504.17 49.18 6,521.86 64,599.90
purpose) loss
Adjustment for earlier year (128.55) 232.72 Remeasurement of defined (523.58) 353.40
tax benefit plans15.1.1
Income Tax Expenses 11,443.48 11,551.62 Share of other 0.06 0.03
reported in statement of comprehensive income/
Profit and Loss (expense) of joint ventures
Effective income tax rate : 23.44% 26.69% (523.52) 353.43
462 463
NOTE – 16: ADDITIONAL NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR NOTE – 16: ADDITIONAL NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR
ENDED 31-03-2024 (Contd..) ENDED 31-03-2024 (CONTD..)
(H in Crore) Revisional Authority, Hon’ble Coal tribunal, and accordingly, the same has not been
Contingent Liability Ministry of Coal vide order dated 22.01.2018, considered as contingent liability for the
Sl. 31-03-2023 has stayed the demand notices, till further purpose of reporting.
Particulars 31-03-2024
No. (Restated)
order. Further, Revisional Authority, Hon’ble
1 Central Government Coal tribunal, Ministry of Coal has directed that (ii) Disputed Receivable I Payable a/c DLF
Income Tax 16,885.13 33,607.44 no Coercive action shall be taken against the - As per the terms of Agreement, there
Central Excise 4,424.01 5,034.55 Applicant by the respondents pursuant to the are Receivables from DLF against cost of
Clean Energy Cess 1,495.54 3,135.86 supply of (i) rejects and (ii) startup/back
impugned demand notices.
Central Sales Tax 2,032.20 1,674.01 up I emergency power by Madhuban Coal
Service Tax 655.99 693.41 Revisional Authority, Hon’ble Coal Tribunal, Washery (MCW) to DLF and Payables to
Others 2,329.17 379.42 Ministry of Coal vide its order dated 29.06.2022 DLF for Energy received by MCW from
Sub-Total 27,822.04 44,524.69 has set aside the order passed by the State of Captive Power Plant (CPP) installed by DLF.
2 State Government and Local Authorities
Jharkhand and observed that a committee The matter is sub judice in two forums, (i)
Royalty 3,634.73 3,900.48
should be constituted by Department of before Hon’ble Supreme Court vide C.A.No.
Environment Clearance 2,915.04 2,915.04
Industry, Mines and Geology with expert from 4166/2012- Challenging the order of APTEL
Sales Tax/VAT 1,658.20 3,056.91
relevant departments and examine the factual of JSERC regarding tariff fixation, (ii) before
Entry Tax 753.87 783.35
and legal position and give opportunity of Hon’ble High Court, Ranchi vide C.A.No.
Electricity Duty 35.81 91.26
MADA 364.53 420.73 hearing before arriving at any decision. 7/2019 -challenging the order of Dhanbad
Others 2,365.73 2,336.40 Civil Court of Arbitral award dated 01.10.2008
Considering the above development, ECL of initial amount of H84.0071 crores (plus
Sub-Total 11,727.91 13,504.17
evaluated that the possibility of an outflow interest till payment). The net interest
3 Central Public Sector Enterprises
of resources in the settlement is remote and @ 18% p.a. simple up to 31st March, 2024
Arbitration Proceedings 18.60 -
Suit against the company under litigation 8.65 0.15 accordingly, the same has not been considered as comes to H 38.88 crore (up to 31st March,
Others 49.93 49.03 contingent liability for the purpose of reporting. 2023 H 37.17 crore) payable to DLF has not
Sub-Total 77.18 49.18 been considered as Contingent Liability.
Bharat Coaking Coal Limited
4 Others: (If any)
Miscellaneous - Land and Others 5,818.03 5,278.69 i) Demand notices amounting to H17344.46 Central Coalfields Limited
Employee Related Etc. 1,232.79 1,243.17 crore have been issued in respect of 47 Following the judgment of the Hon’ble Supreme
Sub-Total 7,050.82 6,521.86 Projects/Mines/Collieries of the Company Court of India in the case of Common Cause
Grand Total 46,677.95 64,599.90 by State Government in pursuance of the vs. UOI and Others (W.P. (C) No. 114 of 2014),
judgment dated 02.08.2017 of Hon’ble certain District Mining Officers of Jharkhand,
The group’s pending litigation comprises outstanding. The inflow of economic benefits, Supreme Court of India vide W.P. (C) No. issued demand notices in 42 projects, alleging
of claim against the group and proceeding in respect of such claims cannot be measured 114 of 2014 in Common Cause vs. Union the production in these projects exceeding
pending tax/statutory/Government authorities. due to uncertainties that surround the related of India &Ors. It has been alleged that the available Environmental Clearances limits.
The group has reviewed all its pending litigations events and circumstances. Coal Production have been undertaken The Company has duly filed revision petition
and proceedings and has made adequate either without Environmental Clearance, against the above demands, before the Hon’ble
Eastern Coalfields Limited Forest Clearance, Consent to operate and/
provisions, and disclosed the contingent Coal Tribunal, Ministry of Coal, Government
liabilities, where applicable, in its consolidated Demand of State of Jharkhand and District or NOC/Consent to Establish or beyond of India, the adjudicating authority under
financial statements. The group does not expects Mining Officer Dhanbad as penalty for illegal or the approved limits of production given the MMDR, Act. The Revisional Authority
the outcome of these proceedings to have a unlawful Mined Mineral under MMDR Act 1957: under such clearances. The execution of Ministry of Coal Government of India in their
material impact on its financial position. Future Government of Jharkhand has raised a demand the above demand notices is stayed in interim order dated 16.01.2018 has admitted
cash outflows in respect of above are dependent under Mines and Minerals (Development and exercise of the power under rule 55(5) of the revision application and stayed the
upon the outcome of judgements/decisions Regulation) Act, 1957 as a penalty for illegally Mineral Concession Rules, 1960 read with execution of the demand order of H13568.50
or unlawfully mined mineral of H 2,178.14 Crore. Sec 30 of the MMDR Act, till further order. (P.Y.H13568.50 Crores) till further order.
No interest is expected in the settlement of State of Jharkhand and District Mining Officer, Accordingly, the above amount has been CCL has evaluated the demand notice of
cases under contingent liabilities, except where Dhanbad had issued 11 Demand notices to shown as Contingent Liability. An order compensation, the possibility of an outflow
management has an adverse view. Rajmahal area, S.P Mines and Mugma area dated 03.11.2022 issued by JS&RA under of resources in the settlement is remote and
claiming the penalty mentioned above. CGM Section 30 of MMDR Act, 1957 set aside accordingly the same has not been considered as
Contingent Assets: A contingent asset is a demand notice amounting to H17344.46
(GM I/C), Rajmahal, SP Mine, Mugma Area contingent liability for the purpose of reporting.
possible asset that arises from past events and crore in respect of 31 projects/mines/
of ECL have filed 11 Revision Application
whose existence will be confirmed only by the Collieries of the Company. Western Coalfields Limited
challenging the Demand notices issued by the
occurrence or non-occurrence of one or more
State of Jharkhand regarding alleged violation A demand has been received from Railways for
uncertain future events not wholly within the Considering the above development, BCCL
before the Revisional Authority, Ministry of Coal, Land License Fee of H 2,622.37 Crores for some
control of the entity. During the normal course of evaluated that the possibility of an outflow
Government of India. sidings of WCL. However, there is no agreement
business, several unresolved claims are currently of resources in the settlement is remote
between the WCL and Indian Railways (Central)
464 465
ENDED 31-03-2024 (CONTD..) ENDED 31-03-2024 (CONTD..)
for the enlisted Sidings against which Railway II. Guarantee iii) Post Employment Benefit Funds and others
is raising such claim and as per records
As on 31-03-2024 Bank guarantee issued is H
available, in respect of some siding, Land area
5615.43Crore (P.Y.H 4227.27 Crore). S. Country of
falls under the ownership of WCL and other Name of Entity Nature
No. Incorporation
siding land was transferred to WCL under the III. Letter of Credit
1 Coal India Employees Gratuity Fund Trust India
provisions of Coal Mines Nationalization Act As on 31-03-2024 outstanding letter of credit is 2 Coal Mines Provident Fund (CMPF) Statutory body under the India
,1973. This matter has already been taken up H 2052.22 Crore (P.Y. H 2061.65 Crore). control of Ministry of Coal, GoI
by the Management with Railways for providing 3 Coal India Superannuation Benefit Fund Trust Trust India
documents, if any, in support of their claim and b) Commitments 4 Contributory Post Retirement Medicare Scheme for Trust India
no such documents have been produced yet. Estimated amount of contracts remaining to be Non- Executives
WCL has evaluated the demand notice, the executed on capital account and not provided for 5 CIL Executive Defined Contribution Pension Trust Trust India
possibility of an outflow of resources in the case 6 Indian Institute of Coal Management (IICM) Registered Society India
: H 21811.87 Crore (P.Y. H 19083.72 Crore) (net of
7 Coal India Sports Promotion Association (CISPA) Registered Society India
is remote and accordingly the same has not advances H 8264.29 crore (P.Y.H 5271.43 crore)).
been considered as contingent liability for the
iv) Key Managerial Personnel
purpose of reporting. Other Commitments: H 178885.39 Crore (P.Y. H
Coal India Limited
113433.19 Crore).
Date if joined/ceased
2 Related Party informations Name Designation
during the financial year
a) Group Information
Shri P.M. Prasad Chairman-Cum-Managing Director w.e.f. 01.07.2023
i) Subsidiary Companies Shri Pramod Agrawal Chairman-Cum-Managing Director upto 30.06.2023
Dr. B. Veera Reddy Director (Technical)
Shri Mukesh Choudhary Director(Marketing)
Country of % Equity Interest
S.No. Name of Entity Principal activities Shri Debasish Nanda Director (Business Development)
Incorporation 31-03-2024 31-03-2023
Shri Vinay Ranjan Director(Personnel)
1 Eastern Coalfields Limited (ECL) Coal mining India 100% 100% Shri Mukesh Agrawal Director (Finance) & CFO w.e.f 08.02.2024
2 Bharat Coking Coal Limited (BCCL) Coal mining India 100% 100% Prof. G. Nageswara Rao Independent Director
3 Central Coalfields Limited (CCL) Coal mining India 100% 100% Dr. Arun Kumar Oraon Independent Director
4 Northern Coalfields Limited (NCL) Coal mining India 100% 100% Shri Kamesh Kant Acharya Independent Director
5 Western Coalfields Limited (WCL) Coal mining India 100% 100% Shri Denesh Singh Independent Director
6 South Eastern Coalfields Limited (SECL) Coal mining India 100% 100% Shri Punambhai Kalabhai Makwana Independent Director
7 Mahanadi Coalfields Limited (MCL) Coal mining India 100% 100% Shri B. Rajeshchander Independent Director
8 Central Mine Planning & Design Consultancy India 100% 100% Shri Ghanshyam Singh Rathore Independent Director
Institute Limited (CMPDI) support in Coal Ms. Nirupama Kotru Government Nominee Directors
and Mineral Shri Nagaraju Maddirala Government Nominee Directors
exploration Shri S.K. Mehta CFO upto 12.02.2024
9 Coal India Africana Limitada, Coal mining Mozambique Quota Quota Shri B. P. Dubey Company Secretary
Mozambique (CIAL) Capital Capital
10 CIL Solar Pvt. Ltd. (CSPL) Solar Energy India 100% 100% Eastern Coalfields Limited
11 CIL Navikarniya Urja Limited (CNUL) Renewable Energy India 100% 100% Date if joined/ceased
Name Designation
ii) Joint Venture Companies
Shri Samiran Dutta Chairman-Cum-Managing Director w.e.f. 28.12.2023
-(Additional charge)
Country of % Equity Interest Shri Ambika Prasad Panda Chairman-Cum-Managing Director upto 27.12.2023
S.No. Name of Entity Principal activities
Incorporation 31-03-2024 31-03-2023 Md. Anzar Alam Director (Finance) and CFO
1 International Coal Venture Private Limited Coal India 0.19% 0.19% Shri B.Veera Reddy Part-time Official Director
(ICVL) Shri Mukesh Agrawal Part-time Official Director w.e.f. 18.03.2024
2 CIL NTPC Urja Private Limited (CNUPL) Energy India 50.00% 50.00% Ms. Ahuti Swain Director (Personnel)
3 Talcher Fertilizers Limited (TFL) Fertiliser India 33.33% 33.33% Shri Nilendu kumar Singh Director (Technical/P&P)
4 Hindustan Urvarak and Rasayan Limited Fertiliser India 33.33% 33.33% Shri Niladri Roy Director (Technical/Operations)
(HURL) Shri Hara Kumar Hajong Economic Adviser, MoC,Part-time Official upto 30.06.2023
5 Coal Lignite Urja Vikas Private Limited Energy India 50.00% 50.00% Director
(CLUVPL) Shri Manik Chandra Pandit Director, Ministry of Coal w.e.f. 19.07.2023
Smt. Dharmshila Gupta Independent Director
Shri Shiv Narayan Pandey Independent Director
Shri Shiv Tapasya Paswan Independent Director
Shri Rambabu Pathak Company Secretary
466 467
ENDED 31-03-2024 (CONTD..) ENDED 31-03-2024 (Contd..)
Bharat Coking Coal Limited Northern Coalfields Limited
Date if joined/ceased Date if joined/ceased
Name Designation Name Designation
during the financial year during the financial year
Shri Samiran Dutta Chairman-Cum-Managing Director Shri B Sairam Chairman-cum Managing Director w.e.f. 13.03.2024
Shri Murli Krishna Ramaiah Director (Personnel) Shri Bhola Singh Chairman-cum Managing Director upto 31.01.2024
Shri Sanjay Kumar Singh Director (Technical/OP) w.e.f. 10.10.2023 Shri Marapalli Venkateshwarlu Official Part Time Director
Shri Uday Anantrao Kaole Director (Technical/P&P) upto 19.12.2023 Shri Vinay Ranjan Official Part Time Director
Sri Shankar Nagachari Director (Technical/P&P) w.e.f. 12.01.2024 Smt Subeena Bansal Independent Director
Shri Rakesh Kumar Sahay Director (Finance) and CFO w.e.f. 14.04.2023
Dr. Anindya Sinha Director (T/O) upto 30.06.2023
Shri Anandji Prasad Part time Director (Project Advisor, MOC,
Shri Rajneesh Narayan Director (Finance) & CFO
Government Nominee)
Shri Manish Kumar Director (Personnel)
Shri Debasish Nanda Part time Director (Director (BD),CIL)
Shri Jitendra Mallik Director (Technical)
Smt. Sashi Singh Independent Director
Shri Alok Kumar Agarwal Independent Director Shri Sunil Prasad Singh Director (Technical) w.e.f. 04.07.2023
Shri Satyabrata Panda Independent Director Shri Sushanta Kumar Panda Company Secretary
Shri Ram Kumar Roy Independent Director
Shri B.K. Parui Company Secretary South Eastern Coalfields Limited
Central Coalfields Limited Name Designation
Date if joined/ceased Dr. P. S. Mishra Chairman-Cum-Managing Director
Name Designation
during the financial year Shri S. K. Pal Director (Technical) /Operations upto 30.09.2023
Shri B.Veera Reddy Chairman-Cum-Managing Director w.e.f. 01.07.2023 Shri G. Srinivasan Director (Finance) and CFO
-(Additional charge) Shri S.N. Kapri Director (Technical) /P& P
Shri Mallikharjuna Prasad Chairman-cum-Managing Director upto 30.06.2023 Shri N. Franklin Jayakumar Director (Technical) Projects & Planning w.e.f. 07.02.2024
Polavarapu Shri Debasis Acharyya Director (Personnel) upto 31.01.2024
Shri Ram Baboo Prasad Director (Technical/Operations) upto 29.02.2024 Shri Biranchi Das Director (Personnel) w.e.f. 20.03.2024
Shri Harish Duhan Director(Technical/Operation) w.e.f. 01.03.2024 Shri Bhabhani Prasad Pati Part-Time Official/Government Nominee
Shri Pawan Kumar Mishra Director (Finance) and CFO Director
Shri Harsh Nath Mishra Director (Personnel) Shri B. Veera Reddy Part-Time Official/Government Nominee
Shri B. Sairam Director (Technical/P&P) upto 13.03.2024 Director
Shri Satish Jha Director(Technical/P&P) w.e.f. 18.03.2024 CS (Dr.) Shyam Agarwal Independent Director
Shri Ajitesh Kumar Part time Government Nominee Director upto 27.12.2023 Adv. Gajanan Devrao Ashole Independent Director
Ms. Rupinder Brar Govt. Nominee Director upto 27.12.2023 Shri Tankadhar Tripathy Independent Director
Shri Ramesh Kumar Soni Independent Director Shri Swapnil Sudhanshu Company Secretary
Shri Vinay Ranjan Part time Director, (D(P) CIL
Shri Amresh Pradhan Company Secretary Mahanadi Coalfields Limited
Western Coalfields Limited Name Designation
Date if joined/ceased Shri O. P. Singh Chairman-cum-Managing Director upto 31.10.2023
Name Designation
during the financial year Shri Uday A Khole Chairman-cum-Managing Director w.e.f. 19.12.2023
Shri Manoj Kumar Chairman-Cum-Managing Director upto 31.01.2024 Shri A. K. Behura Director (Finance)
Shri Jai Prakash Dwivedi Chairman-Cum-Managing Director w.e.f. 01.02.2024 Shri Jugal Borah Director (Technical-Operation)
Dr. Sanjay Kumar Director (Personnel) upto 31.07.2023 Shri K.Rao Director (Personnel)
Shri Anil Kumar Singh Director (Technical) Shri A.S. Bapat Director (Technical-P&P) w.e.f. 02.06.2023
Shri Bikram Ghosh Director (Finance) & CFO w.e.f. 27.03.2024 Shri Soubhagya Parida Company Secretary
Shri Mahendra Kumar Baluka CFO upto 31.01.2024 Shri Sanjeev Kumar Kassi Part-Time Official Director
Shri K Anand CFO w.e.f. 01.02.2024 upto Shri Mukesh Kumar Choudhary Part-Time Official Director
27.03.2024 Dr. Asha Lakda Independent Director
Smt. Ritu Varshney Company Secretary Shri Dayashankar C Tiwari Independent Director w.e.f. 31.05.2023
Shri Sudarshan Bhagat Government Nominee Directors Dr. Rajesh Kumar Verma Independent Director w.e.f. 31.05.2023
Shri Mukesh Choudhary Government Nominee Directors
Shri Bhag Chand Agarwal Independent Director
Shri Kantilal Chaturbhai Patel Independent Director
Shri Balram Nandwani Independent Director
Shri Binod Bihari Dash Independent Director
468 469
ENDED 31-03-2024 (Contd..) ENDED 31-03-2024 (Contd..)
CMPDIL 3
Principles of Consolidation and Financial Act, 2013 by virtue of a joint venture agreement
Reporting of Interest in Jointly Controlled dated 27th October, 2015 among Coal India
Name Designation
during the financial year Entities and Subsidiaries Limited (CIL), Rashtriya Chemicals and Fertilizers
i) The financial statements of the subsidiaries used Limited, GAIL (India) Limited and Fertilizer
Shri Manoj Kumar Chairman Cum Managing Director (Addl.
in the consolidation are drawn up to the same Corporation of India Limited. The joint venture
Charge)
Shri B Veera Reddy Part-Time Official Director reporting date as that of the Parent Company, company has authorised share capital of H4200
Shri Manoj Kumar Gupta Part-Time Official Director i.e. for the year ended 31-03-2024 Crore and issued capital of H2416.45 Crore out
Shri Ajitesh Kumar Part-Time Official Director w.e.f. 27.12.2023 of which Coal India Ltd. owns 805480826 shares
Shri R N Jha Director Technical upto 31.08.2023 ii) a) The consolidated financial statements worth H805.48 Crore face value of equity shares
Shri Satendra Kumar Gomatsa Director Technical upto 30.09.2023 relate to Coal India Limited, its wholly as on 31.03.2024. The management certified
Shri Ajay Kumar Director Technical owned subsidiary companies, namely, unaudited financial statement of the said joint
Shri Shankar Nagachari Director Technical Eastern Coalfields Limited (ECL), Bharat venture company for the year ended 31.03.2024
Shri Satish Jha Director Technical w.e.f 01.09.2023 Coking Coal Limited (BCCL), Central have been considered in consolidation
Shri Achyut Ghatak Director Technical w.e.f. 01.10.2023 Coalfields Limited (CCL), Northern Coalfields using Equity Method.
Shri P. K. Prasad Chief Financial Officer upto 31.08.2023 Limited (NCL), Western Coalfields Limited
Shri Ujjwal Chaterjee Chief Financial Officer w.e.f 01.09.2023 upto (WCL), South Eastern Coalfields Limited v) CIL had entered into a Memorandum of
31.10.2023 (SECL), Mahanadi Coalfields Limited (MCL), Understanding (vide approval from its Board
Shri S.B. Tiwari Chief Financial Officer w.e.f. 01.11.2023 Central Mine Planning & Design Institute in 237th meeting held on 24th November, 2007)
Shri Abhishek Mundhra Company Secretary Limited (CMPDIL), Coal India Africana regarding formation of Special Purpose Vehicle
Limitada (Overseas Subsidiary), CIL Solar (SPV) through joint venture involving CIL/SAIL/
V) Remuneration of Key Managerial Personnel RINL/NTPC & NMDC for acquisition of coking coal
PV Limited for manufacturing of solar
(H in Crore) value chain (Ingot-wafer-Cell Module) and properties abroad. The formation of the SPV had
Contingent Liability CIL Navikarniya Urja Limited for renewable been approved by the Cabinet, Govt. of India,
Sl. energy. Except Coal India Africana Limitada, vide its approval dated 8th November, 2007. The
Particulars 31-03-2024 31-03-2023
No. which has been considered on the basis of aforesaid SPV viz. International Coal Ventures
i) Short Term Employee Benefits management certified unaudited financial Private Ltd. has been formed by incorporation
a. Payment to Chairman cum Managing Directors, Whole Time Directors, 29.86 27.53 statements, all other subsidiary companies under erstwhile Companies Act, 1956 on 20th
Chief Financial Officer and Company Secretary have been considered on the basis of May, 2009 with an authorised capital of H1.00
b. Sitting Fees to Independent Directors 1.42 1.45 their audited financial statements in the Crore and paid up capital of H0.70 Crore. As on
ii) Post-Employment Benefits 6.77 11.4 consolidated financial statements. 31.03.2023, the authorised Capital and paid up
iii) Other Long-term Benefits - - Capital stood at H3500 Crore and H1460.29 Crore
iv) Termination Benefits 1.05 - b) Joint venture companies include, respectively. Out of above paid up capital, Coal
Total 39.10 40.38 namely, CIL- NTPC Urja Private Limited, India Ltd. owns 0.19% share i.e. worth H2.8 Crore
International Coal Ventures Private Ltd. face value of equity shares. The audited financial
Note: (ICVL), Hindustan Urvarak and Rasayan statement of the joint venture company for the
(i) Besides above, whole time Directors have been allowed to use of cars for private journey upto a ceiling of Limited (HURL), Talcher Fertilizers Limited year ended 31.03.2023 have been considered in
1000 KMs on payment of H2000 per month as per service conditions. (TFL) and Coal Lignite Urja Vikas Private consolidation using Equity Method.
Limited (CLUVPL).
VI) Balances Outstanding with Key Managerial Personnel vi) A joint venture agreement between Coal India
iii) CIL NTPC Urja Private Ltd., a 50:50 joint venture Limited (CIL) and NTPC Limited for revival of
(H in Crore)
company was formed on 27th April, 2010 Sindri& Gorakhpur Fertilizer units of FCIL was
Contingent Liability
between CIL & NTPC. The authorised share executed on 16th May, 2016. Accordingly, a joint
Sl.
Particulars 31-03-2024 31-03-2023 capital of the company is H 10 Crore and venture company named Hindustan Urvarak and
No.
issued, subscribed and paid-up share capital Rasayan Limited (HURL) was incorporated on
i) Amount Payable 1.27 0.02
is H 0.15 crores. CIL has invested H0.075 Crore 15th June, 2016 under the Companies Act, 2013.
ii) Amount Receivable 0.04 -
upto the year ended 31.03.2024. The audited Thereafter, a Supplemental Agreement was
financial statement as approved by the Board executed dated 31st October, 2016 among Coal
VII) No Trade or other receivables are due from directors or other officers of the company either severally or jointly
of Directors of the said company for the year India Limited (CIL), NTPC Limited, Indian Oil
with any other person. Nor any trade or other receivable are due from firms or private companies respectively
ended 31.03.2024 have been considered in Corporation Limited (IOCL), Fertilizer Corporation
in which any director is a partner, a director or member. Further there is no loans to related parties (Directors,
consolidation using Equity Method. of India Limited (FCIL) and Hindustan Fertilizer
Key Managerial Persons and others).
Corporation Limited (HFCL) for revival of Sindri&
iv) A joint venture company named Talcher
Gorakhpur Fertilizer units of FCIL and Barauni
Fertilizers Limited (formerly known as Rashtriya
unit of HFCL through HURL. The joint venture
Coal Gas Fertilizers Limited) was incorporated
company has authorised share capital of H8000
on 13th November, 2015 under the Companies
Crore divide into 800 crore equity shares of H10
470 471
each. It is agreed in line with cabinet approval viii) Joint Operations: x) The financial statements of South Eastern Coalfields Ltd. (SECL) have been consolidated with its two
subsidiary companies given as under:
dated 13.07.2016 that FCIL and HFCL shall CIL and ONGC have entered into agreement for
together hold 10.99% equity shareholding in On incorporation of subsidiaries, in terms of Memorandum of Understanding (MOU) signed on 03.11.2012
CBM development and operation in Jharia and
the company at the time of commencement of between South Eastern Coalfields Limited (SECL), IRCON International Limited (IRCON) and the Government
Raniganj North CBM Blocks as joint operation
commercial production of the Project and the of Chhattisgarh (GoCG) for establishment of two Railway Corridors viz., East Corridor and East West Corridor,
as per GoI CBM policy under the aegis of
other three parties i.e. CIL, NTPC and IOCL shall 2 (two) Subsidiary Companies of SECL have been incorporated under the erstwhile Companies Act, 1956 viz.,
Directorate General of Hydrocarbons (DGH).
have equal equity shareholding after providing M/s Chhattisgarh East Railway Limited (CERL) and M/s Chhattisgarh East-West Railway Limited (CEWRL) has
1. The Development Plan of Jharia CBM Block
shares to FCIL and HFCL together. deposited money/transferred debits for capital and other expenditure.
(Stage-I) is already approved by CIL as well
as ONGC with 26% Participating Interest The position of subsidiaries are as under:-
The joint venture company has issued and
(PI) of CIL as on 31.03.2024.
paid up share capital of H7928.99 Crore out of Non-Controlling
Name of Date of Stake in Subsidiary (%)
which Coal India Ltd. owns 2642985000 shares Address Interest (H in crores)
2.
The CBM development and operation Subsidiary Incorporation
worth H2642.98 Crore face value of equity shares 31-03-2024 31-03-2023 31-03-2024 31-03-2023
project in Raniganj North CBM Block
as on 31.03.2024. The management signed 1) M/s Chhattisgarh MahadeoGhat 12.03.2013 63.97% 63.97% 243.81 265.71
Revised FDP (Stage-I) was prepared by
unaudited financial statement of the joint East Railway Road,
ONGC and approved by 43rd Operating
venture company for the year ended 31.03.2024 Committee on 13.02.2023 and 32nd Steering Limited RaipuraChowk,
have been considered in consolidation Committee on 02.03.2023. CIL Board in its Raipur-492013
using Equity Method. 456th meeting held on 08.03.2023 accorded 2) M/s Chhattisgarh MahadeoGhat 25.03.2013 66.18% 66.18% 256.23 243.48
its approval. . East-West Road,
vii) Coal Lignite Urja Vikas Private Limited (CLUVPL)
Railway Limited RaipuraChowk,
is a joint venture company between Coal India 3.
Management certified provisional billing Raipur-492013
Limited (50%) and NLC India Limited (50%) statement of CBM Jharia and Raniganj Total 500.04 509.19
incorporated on 10th November, 2020 under a Block has been considered for FY 2023-24.
joint venture agreement dated 08th October, The audited financial statements of the above subsidiary companies for the year ended 31-03-2024 have been
2020 with NLCIL as joint venture partner. The ix)
T he financial statements of Mahanadi
considered in consolidation.
authorised share capital of the company is H Coalfields Ltd. (MCL) have been consolidated
with its four subsidiary companies given as xi) The financial statements of Central Coalfields Ltd. (CCL) have been consolidated with its one subsidiary
0.10 Crore and issued, subscribed and paid-up
under: company as under:
share capital is H 0.02 crores. Presently Coal India
Limited has invested H 0.01 Crore (i.e. 50%) in On incorporation of subsidiaries on the basis Non-Controlling
of joint venture agreement as per directives Name of Date of Stake in Subsidiary (%)
the joint venture company. The management Address Interest (H in crores)
Subsidiary Incorporation
certified unaudited financial statement of from the Ministry of Coal, MCL has deposited 31-03-2024 31-03-2023 31-03-2024 31-03-2023
the said company for the year 31.03.2024 money / transferred debits for capital and 1) M/s Jharkhand Darbhanga 31.08.2015 64.00% 64.00% 198.78 192.87
have been considered in consolidation other expenditure. Central Railway House, Ranchi
using Equity method. Limited
The position of subsidiaries are as under:- The audited financial statements of the above subsidiary company for the year ended 31-03-2024 has been
Non-Controlling considered in consolidation.
Name of Date of Stake in Subsidiary (%)
Address Interest (H in crores)
Subsidiary Incorporation xii) Investment in Overseas Subsidiary
31-03-2024 31-03-2023 31-03-2024 31-03-2023
1) MNH Shakti Ltd. Ananda Vihar, Burla, 16.07.2008 70.00% 70.00% 18.43 12.67 Coal India Ltd., formed a 100% owned subsidiary in Republic of Mozambique, named “Coal India Africana
Sambalpur Limitada” (CIAL). The initial paid up capital on such formation (known as “Quota Capital”) was H0.53 Crore.
2) MJSJ Coal Ltd. House No. 42,1st Floor, 13.08.2008 60.00% 60.00% 50.33 30.34 The management signed unaudited financial statements for the year ended 31-03-2024 of CIAL has been
Anand Nagar, Hakim prepared in accordance with General Accounting Plan for small entities in Mozambique (PGC-PE) have been
Para, Angul considered for consolidation. Adjustment for difference with Indian GAAP, if any, being insignificant has not
3) Mahanadi Basin Plot No. G-3, 02.12.2011 100.00% 100.00% 0.00 0.00 been considered.
Power Ltd. Mancheswar Railway
xiii) Material Accounting Policies and Notes to these Consolidated Financial Statements are intended to serve as a
Colony, Bhubaneswar
means of informative disclosure and a guide for better understanding the consolidated position of the group.
4) Mahanadi Coal MDF Room, Corporate 31.08.2015 71.11% 71.11% 84.54 25.61
Recognizing this purpose, the Group has disclosed only such Policies and Notes from individual financial
Railway Ltd. Office, MCL HQ,
statements, which fairly present the needed disclosure.
JagritiVihar, Burla,
Sambalpur
The audited financial statements of the above subsidiary companies for the year ended 31-03-2024 have been
considered in consolidation.
472 473
474
NOTE – 16: ADDITIONAL NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31-03-2024 (Contd..)
xiv) Additional information relating to Subsidiaries/ Joint Ventures (As per schedule III of Companies Act, 2013) as at 31.03.2024
Net Assets, i.e., Total
Share in Other Share in Total
Assets minus Total Share in Profit or Loss
Comprehensive Income Comprehensive Income
Liabilities
Name of the entity As % of
As % of As % of Consolidated As % of
Amount Amount Amount Amount
Consolidated Consolidated Other Consolidated
(J in Crore) (J in Crore) (J in Crore) (J in Crore)
Net Assets Profit or Loss Comprehensive Income
Income
Coal India Limited 2.82 2,356.49 1.82 679.37 11.75 (48.83) 1.71 630.54
Subsidiaries
Indian
Eastern Coalfields Limited 3.56 2,977.64 0.67 251.59 22.67 (94.20) 0.43 157.39
Bharat Coking Coal Limited 6.37 5,321.72 4.19 1,564.46 11.23 (46.64) 4.11 1,517.82
Central Coalfields Limited 16.50 13,792.20 9.79 3,660.14 2.13 (8.85) 9.88 3,651.29
Northern Coalfields Limited 18.40 15,375.54 22.26 8,318.13 17.50 (72.70) 22.31 8,245.43
Western Coalfields Limited 7.72 6,452.34 8.68 3,245.43 7.90 (32.81) 8.69 3,212.62
South Eastern Coalfields Limited 17.78 14,859.84 18.50 6,911.72 14.23 (59.11) 18.54 6,852.61
Mahanadi Coalfields Limited 19.36 16,177.88 31.69 11,841.37 10.13 (42.10) 31.93 11,799.27
Central Mine Planning & Design Institute Limited 1.93 1,610.48 1.35 503.23 2.47 (10.27) 1.33 492.96
CIL Solar PV Limited - 0.04 - (0.01) - - - (0.01)
CIL Navikarniya Urja Limited - 0.04 - - - - - -
Foreign
Coal India Africana Limitada, Mozambique (0.06) (53.66) - 0.03 - - - 0.03
Non Controlling Interest in all Subsidiaries 1.02 852.12 (0.09) (33.16) - - (0.09) (33.16)
Total (A) 95.38 79,722.67 98.86 36,942.30 100.01 (415.51) 98.84 36,526.79
Joint Ventures (Investment as per the Equity
Method)
Indian
International Coal Ventures Private Ltd. 0.01 7.75 - - - - - -
CIL NTPC Urja Private Ltd. - 0.09 - 0.02 - - - 0.02
Talcher Fertilizers Ltd. 0.95 794.54 (0.04) (14.76) - - (0.04) (14.76)
Hindustan Urvarak and Rasayan Limited 3.66 3,055.45 1.18 441.50 (0.01) 0.06 1.19 441.56
Coal Lignite Urja Vikas Private Limited - 1.40 - 0.07 - - - 0.07
Total (B) 4.62 3,859.23 1.14 426.83 (0.01) 0.06 1.16 426.89
Total (A+B) 100.00 83,581.90 100.00 37,369.13 100.00 (415.45) 100.00 36,953.68
4

(a)
Loans
Loans
Financial
Investments* :
Investments* :
Trade payables
Trade payables
Other Liabilities
Other Liabilities
Financial Assets
Financial Assets
Secured Bonds
Secured Bonds
Trade receivables**
Trade receivables**
assets
(b) Fair value hierarchy

Mutual Fund/ICD
Other Bank Balances

Other Bank Balances
Fair Value Measurement
ENDED 31-03-2024 (Contd..)
Deposits and receivable

Deposits and receivable
Co-Operative Shares
Co-Operative Shares
Cash & cash equivalents

Cash & cash equivalents
and
which fair values are disclosed
Borrowings and Lease Liabilities

Borrowings and Lease Liabilities
the accounting standard.

Financial Instruments by Category
Security Deposit and Earnest money

Security Deposit and Earnest money
measured at amortised cost for

liabilities
(P.Y. H 3085.32 Crore ) are not considered above.
3,251.10
FVTPL
Level 2
** Allowance for Coal Quality Variance deducted from Trade Receivable.
31-03-2024
31-03-2024
13,901.38
5,716.07
8,385.65
6,523.03
24,226.46
6,008.71
13,255.75
20,709.20
380.30
0.08
0.00
Amortised cost
13,901.38
5,716.07
8,385.65
6,523.03
24,226.46
6,008.71
13,255.75
20,709.20
380.30
0.08
0.00
Level 3
4,054.01
FVTPL
Level 2
31-03-2023
31-03-2023
10,665.26
5,349.12
8,549.18
4,331.42
34,294.28
5,627.43
13,060.48
19,017.41
393.00
0.08
0.00
Amortised cost
(H in Crore)
10,665.26
5,349.12
8,549.18
4,331.42
34,294.28
5,627.43
13,060.48
19,017.41
393.00
0.08
0.00
Level 3
(H in Crore)
that are (a) recognised and measured at fair value and (b) measured at amortised cost and for which fair values
determining fair value, the group has classified its financial instruments into the three levels prescribed under
475
are disclosed in the financial statements. To provide an indication about the reliability of the inputs used in
Table below shows judgements and estimates made in determining the fair values of the financial instruments
‘* Investment in Equity Shares in Joint Ventures are measured using Equity method which stands at H 3859.23 Crore as on 31-03-2024
A brief of each level is given below: requires amounts to be retained for reasons
Risk Exposure arising from Measurement Management
Level 1: Level 1 hierarchy includes financial other than the provision of finance. The
withholding of a specified percentage of each Market Future commercial transactions, Cash flow forecast Regular watch and review by senior
instruments measured using quoted prices. Risk-foreign recognised financial assets and sensitivity analysis management and audit committee.
milestone payment is intended to protect the
interest of the group, from the contractor failing exchange liabilities not denominated in INR
Level 2: The fair value of financial instruments
Market Risk- Cash and Cash equivalents, Bank Cash flow forecast Department of public enterprises (DPE
that are not traded in an active market is to adequately complete its obligations under
interest rate deposits and mutual funds sensitivity analysis guidelines), Regular watch and review by
determined using valuation techniques which the contract. Accordingly, transaction cost of
senior management and audit committee.
maximize the use of observable market data Security deposit is considered as fair value at
and rely as little as possible on entity-specific initial recognition and subsequently measured
The Group risk management is carried out by the board of directors as per DPE guidelines issued by Government
estimates. If all significant inputs required to at amortised cost.
of India. The board provides written principles for overall risk management as well as policies covering investment
fair value an instrument are observable, the
Significant estimates: The fair value of financial of excess liquidity.
instrument is included in level 2. This includes
Mutual fund which is valued using closing Net instruments that are not traded in an active
Credit risk management: Provision for expected credit loss: The Group
Asset Value (NAV) as at the reporting date. market is determined using valuation techniques.
Receivables arise mainly out of sale of Coal. Sale provides for expected credit risk loss for doubtful/
The Group uses its judgment to select a method
of Coal is broadly categorized as sale through fuel credit impaired assets, by lifetime expected credit
Level 3: If one or more of the significant inputs and makes suitable assumptions at the end of
supply agreements (FSAs) and e-auction. losses (Simplified approach). Refer Note - 4.3,
is not based on observable market data, the each reporting period.
Trade Receivables
instrument is included in level 3. This is the case
5 Financial Risk Management Macro - economic information (such as regulatory
for investments , security deposits and other
Significant estimates and judgments for
Financial risk management objectives and policies changes) is incorporated as part of the fuel supply Impairment of financial assets
liabilities included in level 3.
agreements (FSAs) and e-auction terms.
The Group’s principal financial liabilities comprise The impairment provisions for financial assets
(c) Valuation technique used in determining fair
value trade and other payables. The main purpose of Fuel Supply Agreements (FSAs) disclosed above are based on assumptions about
these financial liabilities is to finance the Group’s risk of default and expected loss rates. The Group
Valuation techniques used to value financial As contemplated in and in accordance with the terms
operations and to provide guarantees to support uses judgment in making these assumptions and
instruments include the use of quoted market of the New Coal Distribution Policy (NCDP), the group
its operations. The Group’s principal financial assets selecting the inputs to the impairment calculation,
prices (NAV) of instruments in respect of enters into legally enforceable FSAs with customers
include loans, trade and other receivables, and cash based on the Group’s past history, existing market
investment in Mutual Funds. or with State Nominated Agencies that in turn enters
and cash equivalents that is derived directly from conditions as well as forward looking estimates at
into appropriate distribution arrangements with end
(d)
Fair value measurements using significant its operations. the end of each reporting year.
customers. FSAs can be broadly categorized into:
unobservable inputs
The Group is exposed to market risk, credit risk Liquidity Risk
At present there are no fair value measurements FSAs with customers in the power utilities sector,
and liquidity risk. The Group’s senior management
using significant unobservable inputs. including State power utilities, private power Prudent liquidity risk management implies
oversees the management of these risks. The Group’s
maintaining sufficient cash and marketable securities
(e)
Fair values of financial assets and liabilities senior management is supported by a risk committee utilities (“PPUs”) and independent power and the availability of funding through an adequate
measured at amortised cost that advises, inter alia, on financial risks and the producers (“IPPs”); amount of committed credit facilities to meet
appropriate financial risk governance framework for
The carrying amounts of trade receivables, short obligations when due. Due to the dynamic nature of
the Group. The risk committee provides assurance to FSAs with customers in non-power industries
term deposits, cash and cash equivalents, trade the underlying businesses, Group treasury maintains
the Board of Directors that the Group’s financial risk (including captive power plants (“CPPs”)); and
payables are considered to be the same as their flexibility in funding by maintaining availability under
activities are governed by appropriate policies and
fair values, due to their short-term nature. FSAs with State Nominated Agencies. committed credit lines.
procedures and that financial risks are identified,
The Group considers that the Security Deposits measured and managed in accordance with the E-Auction Scheme Management monitors forecasts of the group's
does not include a significant financing Group’s policies and risk objectives. The Board of liquidity position (comprising the undrawn borrowing
The E-Auction scheme of coal has been introduced
component. Security deposits coincide with Directors reviews and agrees policies for managing facilities) and cash and cash equivalents on the basis
to provide access to coal for customers who were
the company’s performance and the contract each of these risks, which are summarised below. of expected cash flows. This is generally carried out at
not able to source their coal requirement through
the available institutional mechanisms under local level in accordance with practice and limits set
This note explains the sources of risk which the entity is exposed to and how the entity manages the risk the NCDP for various reasons, for example, due by the group. The bank borrowings of Coal India Ltd.
and the impact of hedge accounting in the financial statements. to a less than full allocation of their normative has been secured by creating charge against stock
requirement under NCDP, seasonality of their of coal , stores and spare parts and book debts of CIL
Risk Exposure arising from Measurement Management and its Subsidiary Companies within consortium of
coal requirement and limited requirement of coal
Credit Risk Cash and Cash equivalents, Ageing analysis/ Department of public enterprises (DPE that does not warrant a long-term linkage. The banks. The total working capital credit limit available
trade receivables financial asset Credit rating guidelines), diversification of bank quantity of coal to be offered under E-Auction is to CIL is H430.00 Crore, of which fund based limit is
measured at amortised cost deposits credit limits and other securities reviewed from time to time by the Ministry of Coal. H140.00 Crore and non-fund based limit is H290.00
Liquidity Risk Borrowings and other liabilities Periodic cash Availability of committed credit lines and Credit risk arises when a counterparty defaults crore. Further, H5,730 crore(P.Y.H5190.00 Crore) was
flows borrowing facilities on contractual obligations resulting in financial set up as non-fund based limit outside consortium in
loss to the group. order to facilitate import of HEMM. Coal India Limited
is contingently liable to the extent such facility
476 477
is actually utilised by the Subsidiary Companies. Scheme") covering the eligible employees.
is recognised based on actuarial valuation done funded through trust for group, maintained
Gratuity payment is made as per policy of the
at each reporting date. with Life Insurance Corporation of India. The
company subject to maximum of H 20 lacs
CIL has been sanctioned a term loan of H 364.30 c)
Post-Retirement Medical Benefit – Non obligation of the Company is to contribute
at the time of separation from the company
crores from HDFC bank Limited secured by creating Executive (CPRMS -NE) to the trust to the extent of amount not
considering the provisions of the Payment of
exclusive charge on plant and equipment and exceeding 30% of basic pay and dearness
Gratuity Act 1972 as amended. The liability or As a part of social security scheme under wage
movable assets of the 100 MW Solar Project of the allowance less employer’s contribution
asset recognised in the balance sheet in respect agreement, Company is providing Contributory
Company in Gujarat. towards provident fund, gratuity, post-
of the Gratuity Scheme is the present value of Post-Retirement Medicare Scheme for non-
retirement medical benefits -Executive i.e.
Market risk the defined benefit obligation at the end of the executives (CPRMSE-NE) to provide medical
CPRMSE or any other retirement benefits.
reporting year less the fair value of plan assets. The care to the non-executives and their spouses
a) Foreign currency risk The current employer contribution of 6.99%
defined benefit obligation is calculated at each and Divyang Child(ren) in Company hospital/
Foreign currency risk arises from future of basic and Dearness Allowance is being
reporting date by actuaries using the projected empanelled hospitals or outpatient/Domiciliary
commercial transactions and recognised assets charged to statement of profit and loss.
unit credit method. Re-measurement gains only in India subject to ceiling limit, on
or liabilities denominated in a currency that and losses arising from experience adjustments account of retirement on attaining the age Other Long Term Employee Benefits
is not the Group’s functional currency(INR). and changes in actuarial assumptions are of superannuation or are separated by the a) Leave encashment
The Company is exposed to foreign exchange recognised in the year in which they occur, Company on medical ground or retirement
risk arising from foreign currency transactions. The company provides benefit of total
directly in other comprehensive income (OCI). under Voluntary Retirement Scheme formulated
Foreign exchange risk in respect of foreign Earned Leave (EL) of 30 days and Half Paid
and made applicable from time to time or
operation is considered to be insignificant. The Leave (HPL) of 20 days to the executives
resigns from the company at the age of 57 Years
Group also imports and risk is managed by The Gratuity Scheme is funded through trust of the company, accrued and credited
or above or on death to the spouse and Divyang
regular follow up. Group has a policy which maintained with Life Insurance Corporation of proportionately on half yearly basis on the
Child(ren). The maximum amount reimbursable
is implemented when foreign currency risk India. LIC also provides an insurance coverage first day of January and July of every year.
during the entire life for the retired non-
becomes significant. (Life Cover Sum Assured- “LCSA”) in case of death During the service, 75% EL credited balance
executives and spouse taken together jointly or
of a member during service, to compensate the is one time encashable in each calendar
severally is H 8 lakhs except for specified diseases
b) Cash flow and fair value interest rate risk shortfallingratuityamountfromestimatedpayable year subject to ceiling of maximum 60
with no upper limit. The maximum amount
The Group’s main interest rate risk arises from at normal retirement date based on last drawn days EL encashment. Accumulated HPL
reimbursable during the entire life of Divyang
bank deposits with change in interest rate salary subject to ceiling of maximum of H 20 lacs." is not permitted for encashment during
child would be H 2.5 lakh. The Scheme is funded
exposes the Group to cash flow interest rate the period of service. On superannuation,
b) Post-Retirement Medical Benefit – Executive through trust for group, maintained with Life
risk. Group policy is to maintain most of its EL and HPL together is considered for
(CPRMSE) Insurance Corporation of India . The liability for
deposits at fixed rate. encashment subject to the overall limit of
the scheme is recognised based on actuarial
Company has post-retirement medical benefit 300 days without commutation of HPL. In
valuation done at each reporting date.
Group manages the risk using guidelines scheme known as Contributory Post Retirement case of non-executives, Leave encashment
from Department of public enterprises (DPE), Medicare Scheme for Executive of CIL and its Defined Contribution Plans is governed by the National Coal Wage
diversification of bank deposits credit limits and Subsidiaries (CPRMSE), to provide Medicare to a) Provident Fund and Pension Agreement (NCWA) and at present the
other securities. the executives, their spouses and fully financially workmen are entitled to get encashment of
Company pays fixed contribution towards
dependent Divyang child(ren) suffering from earned leave at the rate of 15 days per year
Capital management Provident Fund and Pension Fund at
not less than 40% of any disability in Company and on discontinuation of service due to
pre-determined rates based on a fixed
The Group being a government entity manages hospital/empanelled hospitals or outpatient/ death, retirement, superannuation and VRS,
percentage of the eligible employee's salary
its capital as per the guidelines of Department of Domiciliary only in India subject to ceiling the balance leave or 150 days whichever is
i.e. 12% and 7% of Basic salary and Dearness
investment and public asset management under limit, on account of retirement on attaining less, is allowed for encashment. Therefore,
Allowance towards Provident Fund and
ministry of finance. the age of superannuation or are separated by the liabilities for earned leave are expected
Pension Fund respectively. These funds are
the Company on medical ground or retirement to be settled during the service as well as
Capital Structure of the Group is as follows: governed by a separate statutory body under
under Voluntary Retirement Scheme under after the retirement of employee. They are
the control of Ministry of Coal, Government
common coal cadre or Voluntary Retirement therefore measured as the present value of
(H in Crore) of India, named Coal Mines Provident Fund
Scheme formulated and made applicable from expected future payments to be made in
31-03-2024 31-03-2023 Organisation (CMPFO).The contribution
time to time. Membership is not extended to the respect of services provided by employees
Equity Share capital 6,162.73 6,162.73 towards the fund for the period is recognized
executives who resigns from the services of the up to the end of the reporting period using
Long term debt 5,617.20 4,106.25 in the Statement of Profit & Loss.
CIL and its subsidiaries. The maximum amount the projected unit credit method. The
reimbursable during the entire life for the retired b)
CIL Executive Defined Contribution benefits are discounted using the market
6
Employee Benefits: Recognition and
executives, spouse and dependent Divyang Pension Scheme (NPS) yields at the end of the reporting period
Measurement (Ind AS-19)
child (ren) taken together jointly or severally that have terms approximating to the
Defined Benefit Plans : The company provides a post-employment
is H 25 lakhs except for specified diseases with terms of the related obligation. The scheme
contributory pension scheme to the
a) Gratuity no upper limit. The Scheme is funded through is funded by qualifying insurance policies
executives of the Company known as “CIL
The Company provides for gratuity, a post- trust for group, maintained with Life Insurance from Life Insurance Corporation of India.
Executive Defined Contribution Pension
employment defined benefit plan ("the Gratuity Corporation of India . The liability for the scheme The liability under the scheme is borne by
Scheme -2007” (NPS). The Scheme is
478 479
the Company as per actuarial valuation at the benefits admissible under The Other For the Year For the Year Specimen Mortality rates
each reporting date. Employee’s Compensation Act, 1923. An B Comprehensive Ended Ended
Age Rates Age Rates
amount of H15 lakhs is paid to the next of Income ( OCI ) 31-03-2024 31-03-2023
b) Life Cover Scheme (LCS) 20 0.000888 45 0.002874
kin of an employee in case of a fatal mine 1 Actuarial (gain)/ 265.39 397.71
25 0.000984 50 0.004946
As a part of the social security scheme, the accident w.e.f 07.11.2019. In addition, w.e.f loss due to DBO
30 0.001056 55 0.007888
Group has a Life Cover Scheme known as 01.06.2023 an exgratia amount of H 90,000/- experience
35 0.001282 60 0.011534
“Life Cover Scheme of Coal India Limited” is paid in case of death or permanent 2 Actuarial (gain)/ 375.12 (621.20)
40 0.001803 65 0.017009
(LCS) which covers all the executive and total disablement .The expected cost of loss due to DBO
non-executive cadre employees. In case of the benefits is recognised when an event assumption Net Balance Sheet position as at 31-03-2024
death in service, an amount of H 1,25,000 occurs that causes the benefit payable changes
W
(executive) and H 1,56,250 (non-executive under the scheme. 3 Actuarial (gain)/ 640.51 (223.49)
Development
w.e.f 01.06.2023) is paid to the nominees loss arising
Funding status of defined benefit plans and A of Net Balance 31-03-2024 31-03-2023
under the scheme . The expected cost of during year Sheet Position
other long term employee benefits plans are
the benefits is recognized when an event 4 Return on plan (85.16) (133.75)
as under: 1 Defined benefit (19,912.13) (19,568.85)
occurs that causes the benefit payable assets (greater)/
(i) Funded obligation (DBO)
under the scheme. less than discount
2 Fair value of plan 18,409.95 17,517.04
 Gratuity rate
c) Settlement Allowances assets (FVA)
5 Actuarial 555.35 (357.24)
 Leave Encashment 3 Funded status (1,502.18) (2,051.81)
As a part of wage agreement, a lump sum (gains)/ losses
[surplus/
amount of H12000/- is paid to all the non- 
Post-Retirement Medical Benefit – recognized in
(deficit)]
executive cadre employees governed under Executive (CPRMSE) OCI
4 Net defined (1,502.18) (2,051.81)
NCWA on their superannuation on or after Benefit Asset
 ost-Retirement Medical Benefit –
P
31.10.2010 as settling-in allowance. The For the Year For the Year (liability)
Non Executive (CPRMS -NE) Defined Benefit
liability under the scheme is borne by the C Ended Ended
Cost
Company as per actuarial valuation at each (ii) Unfunded 31-03-2024 31-03-2023
reporting date.  Life Cover Scheme 1 Service cost 1,019.10 495.82 Reconciliation
2 Net interest 69.71 181.70 B of Net Balance 31-03-2024 31-03-2023
d)
Group Personal Accident Insurance  Settlement Allowance Sheet Position
on net defined
(GPAIS)
benefit liability / 1 Net defined (2,051.80) (3,612.62)
Coal India Limited (CIL) has taken group  Group Personal Accident Insurance

(asset) benefit asset/
insurance scheme from United India 3 Actuarial (gains)/ 555.35 (357.24) (liability) at end of
 Leave Travel Concession
Insurance Company Limited to cover losses recognized prior year
the executives of the CIL Group against  ompensation to dependent on Mine
C in OCI 2 Service cost (1,019.10) (495.82)
personal accident known as “Coal India Accident Benefits 4 Defined Benefit 1,644.16 320.28 3 Net interest (69.71) (181.70)
Executives Group Personal Accident Cost on net defined
Insurance Scheme” (GPAIS). GPAIS covers ACTUARIAL VALUATION OF GRATUITY BENEFIT AS
benefit liability/
AT 31-03-2024
all types of accident on 24 hour basis For the Year For the Year (asset)
worldwide. Premium for the scheme is Disclosure of Defined Benefit Cost
D Assumptions Ended Ended 4 Amount (555.35) 357.24
borne by the CIL. For the Year For the Year 31-03-2024 31-03-2023 recognised in OCI
Profit & Loss
A Ended Ended 1 Discount Rate 7.00% 7.30% 5 Employer 2,193.79 1,881.09
e) Leave Travel Concession (LTC) (P&L)
31-03-2024 31-03-2023 contributions
2 Rate of salary Executives: Executives:
As a part of wage agreement, Non- 1 Current service 323.68 495.82 increase 9%; Non 9%;Non 6 Net defined (1,502.17) (2,051.81)
executive employees are entitled to travel cost Executives: Executives: benefit asset/
assistance for visiting their home town and 2 Past service 695.42 - 6.25%" 6.25%" (liability) at end
for “Bharat Bhraman” once in a block of 4 cost - plan 3 Withdrawal Rate 0.30% 0.30% of current year
years. A lump sum amount of H10000/- and amendments 4 Mortality Rate Indian Indian
H15000/- is paid for visiting Home town and 3 Service cost 1,019.10 495.82 Assured Assured
“Bharat Bhraman”, respectively. The liability 4 Net interest 69.71 181.70 Lives Lives
for the scheme is recognised based on on net defined Mortality Mortality
actuarial valuation at each reporting date. benefit liability / (2006-08) (2006-08)
(asset) Ultimate Ultimate
f)
Workmen's Compensation Benefits in 5 Cost recognised 1,088.81 677.52
Mine Accident
in P&L
As a part of social security scheme under
wage agreement, the company provide
480 481
Changes in Benefit Obligations and Assets over the ACTUARIAL VALUATION OF LEAVE BENEFIT AS AT Specimen Mortality rates
B Expected employer 346.93
Year ending 31-03-2024
contributions for the period Age Rates Age Rates
Change in For the Year For the ending 31 March 2024 Disclosure of Defined Benefit Cost
A Defined Benefit Ended Year Ended C Weighted average duration of 7 Years 20 0.000888 45 0.002874
Obligation (DBO) 31-03-2024 31-03-2023 For the Year For the Year 25 0.000984 50 0.004946
defined benefit obligation Profit & Loss
A Ended Ended
D Accrued Benefit Obligation at 16,866.03 (P&L) 30 0.001056 55 0.007888
1 DBO at end of 19,568.85 20,601.58 31-03-2024 31-03-2023
prior year 31-03-2024 35 0.001282 60 0.011534
1 Current service 1,081.80 954.32 40 0.001803 65 0.017009
2 Current service 323.68 495.82
cost cost
E Plan Asset Information as at
3 Interest cost on 1,331.87 1,311.93 Percentage 2 Past service 530.36 - Net Balance Sheet position as at 31-03-2024
31-03-2024
the DBO cost - plan
Government of India Securities 0% Development
4 Past service 695.42 - amendments A of Net Balance 31-03-2024 31-03-2023
cost - plan (Central and State) 3 Service cost 1,612.16 954.32 Sheet Position
amendments High quality corporate bonds 0% 4 Net interest 91.40 59.64 1 Defined benefit (6,236.01) (5,215.04)
5 Actuarial (gain)/ 265.39 397.71 (including Public Sector Bonds) on net defined
Equity shares of listed companies 0% obligation (DBO)
loss - experience benefit liability /
Property 0% 2 Fair value of plan 3,512.46 3,423.33
6 Actuarial (gain)/ 375.12 (621.20)
(asset) assets (FVA)
loss - financial Cash (including Special 0%
5 Immediate 307.58 406.92 3 Funded status (2,723.55) (1,791.71)
assumptions Deposits)
7 Benefits paid (2,648.20) (2,616.99) recognition of [surplus/
from plan assets (gains)/losses – (deficit)]
conventional products
8 DBO at end of 19,912.13 19,568.85 other long term
Schemes of insurance - ULIP 0%
current year employee benefit
products Reconciliation
6 Cost recognised 2,011.14 1,420.88
Other 0% B of Net Balance 31-03-2024 31-03-2023
For the Year For the in P&L Sheet Position
Change in Fair Total 100%
B Ended Year Ended 1 Net defined (1,791.72) (1,383.22)
Value of Assets
31-03-2024 31-03-2023
F Current and Non Current For the Year For the Year benefit asset/
31-03-2024 Defined Benefit
1 Fair value of 17,517.04 16,988.96 Liability Breakup B Ended Ended
Cost (liability) at end of
assets at end of 31-03-2024 31-03-2023
1 Current Liability 2,256.44 prior year
prior year 1 Service cost 1,612.16 954.32 2 Service cost (1,612.16) (954.32)
2 Non Current Liability 17,655.69
2 Interest income 1,262.16 1,130.23 2 Net interest 91.40 59.64 3 Net interest (91.40) (59.64)
3 Liability as at 31-03-2024 19,912.13
on plan assets on net defined
on net defined
3 Employer 2,193.79 1,881.09 benefit liability /
Sensitivity Analysis benefit liability/
(asset)
contributions (asset)
DBO on base assumptions as at 19,912.13 3 Immediate 307.58 406.92
4 Return on plan 85.16 133.75 4 Actuarial (losses)/ (307.58) (406.92)
recognition of
assets greater/ 31 March 2024
(gains)/losses – gains
(lesser) than A Discount Rate other long term 5 Employer 1,079.32 1,012.38
discount rate Discount Rate as at 31-03-2024 0.07 employee benefit contributions
5 Benefits paid (2,648.20) (2,616.99) 1 Effect on DBO due to 0.5% (617.07) plans 6 Net defined (2,723.54) (1,791.72)
6 Fair Value of 18,409.95 17,517.04 increase in Discount Rate 4 Defined Benefit 2,011.14 1,420.88
benefit asset/
assets at the Percentage Impact -0.03 Cost
(liability) at end
end of current 2 Effect on DBO due to 0.5% 659.84
of current year
year decrease in Discount Rate For the Year For the Year
Percentage Impact 0.03 C Assumptions Ended Ended Changes in Benefit Obligations and Assets over the
Additional Disclosure Information 31-03-2024 31-03-2023 Year ending
B Salary Escalation Rate 1 Discount Rate 7.00% 7.30%
Expected benefit payments for the year Change in For the Year For the
A Salary Escalation Rate as at Executives: 9%; 2 Rate of salary Executives: Executives:
ending A Defined Benefit Ended Year Ended
31-03-2024 Non Executives: increase 9%; Non 9%;Non Obligation (DBO) 31-03-2024 31-03-2023
6.25%" Executives: Executives:
1 March 31, 2025 2,334.08 6.25%" 6.25%" 1 DBO at end of 5,215.04 4,403.99
1 Effect on DBO due to 0.5% 196.30
2 March 31, 2026 2,299.51 3 Withdrawal Rate 0.30% 0.30% prior year
increase in Salary Escalation
3 March 31, 2027 2,250.55 Percentage Impact 0.01 4 Mortality Rate Indian Indian 2 Current service 1,081.80 954.32
4 March 31, 2028 2,276.40 2 Effect on DBO due to 0.5% (207.76) Assured Assured cost
5 March 31, 2029 to March 31, 2033 2,211.97 decrease in Salary Escalation Lives Lives 3 Interest cost on 336.18 270.38
6 March 31, 2030 to March 31, 2034 8,814.89 Percentage Impact -0.01 Mortality Mortality the DBO
7 Beyond 10 years 16,150.87 (2006-08) (2006-08) 4 Past service 530.36 -
Ultimate Ultimate cost - plan
amendments
482 483
Note – 16: Additional notes to the consolidated financial statements for the year ended 31-03-2024 NOTE – 16: ADDITIONAL NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR
(Contd..) ENDED 31-03-2024 (Contd..)
Change in For the Year For the D Accrued Benefit Obligation at 3,823.76 For the Year For the Year For the Year For the Year
A Defined Benefit Ended Year Ended 31-03-2024 Profit & Loss
A Ended Ended D Assumptions Ended Ended
Obligation (DBO) 31-03-2024 31-03-2023 (P&L)
31-03-2024 31-03-2023 31-03-2024 31-03-2023
5 Actuarial (gain)/ 134.05 668.77 E Plan Asset Information as at 1 Current service 100.88 108.48 Mortality Rate Indian Assured Indian Assured
Percentage
loss - experience 31-03-2024 - Inservice Lives Mortality Lives Mortality
cost
6 Actuarial (gain)/ 158.38 (226.78) Government of India Securities 0% (2006-08) (2006-08)
2 Service cost 100.88 108.48
loss - financial Ultimate Ultimate
(Central and State) 3 Net interest 136.42 143.39
assumptions 4 Mortality Indian Individual Indian
High quality corporate bonds 0% on net defined Rate - Post Annuitant’s Individual
7 Benefits paid (1,219.81) (855.64) (including Public Sector Bonds)
from plan assets benefit liability / retirement Mortality Table Annuitant’s
Equity shares of listed companies 0% (2012-15) Mortality Table
8 DBO at end of 6,236.00 5,215.04 (asset)
Property 0% (2012-15)
current year 4 Cost recognised 237.30 251.87 Average Executive Executive
Cash (including Special 0%
Deposits) in P&L Medical Cost Employees: Employees:
For the Year For the (INR) Domiciliary Domiciliary
Change in Fair Benefit - Benefit -
B Ended Year Ended conventional products Other For the Year For the Year
Value of Assets INR 36,000 INR 36,000 p.a.
31-03-2024 31-03-2023 Schemes of insurance - ULIP 0% B Comprehensive Ended Ended p.a.Hospitalisation Hospitalisation
1 Fair value of 3,423.33 3,020.78 products Income ( OCI ) 31-03-2024 31-03-2023 Benefit - INR Benefit-
assets at end of Other 0% 1 Actuarial (gain)/ (180.58) 255.12 35,000 p.a.Non INR 35,000 p.a.
Total 100% loss due to DBO Executive Non Executive
prior year
experience Employees: Employees:
2 Acquisition - - Domiciliary Domiciliary
adjustment 2 Actuarial (gain)/ 160.48 (274.16)
F Current and Non Current Benefit+ Benefit+
31-03-2024 loss due to DBO
3 Interest income 244.77 210.74 Liability Breakup Hospitalisation Hospitalisation
assumption Benefit Benefit
on plan assets 1 Current Liability 568.48 changes combined - INR combined -
4 Employer 1,079.32 1,012.38 2 Non Current Liability 5,667.52 3 Actuarial (gain)/ (20.10) (19.04) 18,000 p.a. INR 18,000 p.a.
contributions 3 Liability as at 31-03-2024 6,236.00 loss arising 5 Spouse Age Spouse is 5 years Spouse is 5
5 Return on plan (15.15) 35.06 during year Difference younger than years younger
assets greater/ Sensitivity Analysis 4 Return on plan (11.67) 22.87 Member than Member
(lesser) than assets (greater)/
DBO on base assumptions as at 6,236.01 less than discount Specimen Mortality Rates: Indian Assured Lives
discount rate
31 March 2024 rate Mortality (2006-08) Ultimate table
6 Benefits paid (1,219.81) (855.64)
A Discount Rate 5 Actuarial (gains)/ (31.77) 3.83
7 Fair Value of 3,512.46 3,423.32 Age Rates Age Rates
Discount Rate as at 31-03-2024 7.00% losses recognized
assets at the 1 Effect on DBO due to 0.5% (259.65) in OCI 20 0.000888 45 0.002874
end of current increase in Discount Rate 25 0.000984 50 0.004946
year Percentage Impact -4% 30 0.001056 55 0.007888
For the Year For the Year 35 0.001282 60 0.011534
2 Effect on DBO due to 0.5% 282.59 Defined Benefit
Additional Disclosure Information C Ended Ended 40 0.001803 65 0.017009
decrease in Discount Rate Cost
31-03-2024 31-03-2023
Specimen Mortality Rates: Indian Individual
Expected benefit payments for the year 1 Service cost 100.88 108.48
A Annuitant’s Mortality Table (2012-15)
ending 2 Net interest 136.42 143.39
B Salary Escalation Rate on net defined Age Rates
1 March 31, 2025 588.04 Salary Escalation Rate as at Executives: 9%; benefit liability /
2 March 31, 2026 595.04 60 0.006349
31-03-2024 Non Executives: (asset)
3 March 31, 2027 589.87 65 0.01007
6.25% Actuarial (gains)/ (31.77) 3.83 70 0.016393
4 March 31, 2028 610.72 1 Effect on DBO due to 0.5% 280.73 losses recognized 75 0.027379
5 March 31, 2029 to March 31, 2033 614.42 increase in Salary Escalation 80 0.04673
in OCI
6 March 31, 2030 to March 31, 2034 2,526.92 Percentage Impact 5%
2 Effect on DBO due to 0.5% (260.46) 3 Defined Benefit 205.53 255.70
7 Beyond 10 years 8,913.79 Cost Net Balance Sheet position as at 31-03-2024
decrease in Salary Escalation
Percentage Impact -4% Development
B Expected employer 1,190.07 For the Year For the Year A of Net Balance 31-03-2024 31-03-2023
contributions for the period ACTUARIAL VALUATION OF POST RETIREMENT Sheet Position
D Assumptions Ended Ended
ending 31 March 2024 MEDICAL BENEFIT AS AT 31-03-2024 31-03-2024 31-03-2023 1 Defined benefit (4,847.61) (4,602.63)
C Weighted average duration of 9 Years Disclosure of Defined Benefit Cost 1 Discount Rate 7.00% 7.30% obligation (DBO)
defined benefit obligation
2 Medical 0.00% 0.00% 2 Fair value of plan 2,933.61 2,573.60
Inflation rate assets (FVA)
3 Withdrawal 0.30% 0.30% 3 Funded status (1,914.00) (2,029.03)
Rate
[surplus/
(deficit)]
484 485
4 Net defined (1,914.00) (2,029.03) For the Year For the b) Earnings per share for rehabilitation of persons dwelling in non-
Change in Fair
benefit asset/ B Ended Year Ended ECL houses, for which the Company acts as a
Value of Assets For the Year For the Year
31-03-2024 31-03-2023 Sl.
(liability) Particulars Ended Ended nodal agency. Fund received as nodal agency is
3 Employer 320.55 670.84 No
31-03-2024 31-03-2023 advanced to ADDA and such Advance (shown
Reconciliation contributions under Other Advance in Note-6.2) as well as
1 Net profit after 37,402.29 31,763.23
B of Net Balance 31-03-2024 31-03-2023 4 Return on plan 11.67 (22.87) the relevant Fund, are adjusted on the basis of
tax attributable
Sheet Position assets greater/ utilization statement submitted by ADDA. There
to Equity Share
1 Net defined (2,029.03) (2,444.16) (lesser) than is an unutilised fund of H 219.32 Crore as on 31st
Holders
benefit asset/ discount rate March, 2024 (as on 31st March,2023 H 311.44
2 Weighted 6162728327 6162728327
(liability) at end of 5 Benefits paid (165.74) (309.30) Crore) awaiting utilization certificate from ADDA
Average no. of
prior year 6 Fair Value of 2,933.60 2,573.60
Equity Shares for their adjustment.
2 Service cost (100.88) (108.48) assets at the
Outstanding
3 Net interest (136.42) (143.39) end of current For the Year For the Year
3 Basic and H 60.69 H 51.54
on net defined year Particulars Ended Ended
Diluted Earnings 31-03-2024 31-03-2023
benefit liability/ per Share in
Additional Disclosure Information Opening balance 311.44 11.44
(asset) Rupees (Face
4 Amount 31.77 (3.83) of unutilized
Expected benefit payments for the year value H10/- per
recognised in OCI A fund under
ending share)
5 Employer 320.55 670.84 Master Plan at
contributions 1 March 31, 2025 250.67 the beginning of
Refer note 16 (8) (iv) for restatement of EPS
6 Net defined (1,914.01) (2,029.02) 2 March 31, 2026 277.33 the period / year
benefit asset/ 3 March 31, 2027 299.89 c) Insurance and escalation claims Fund Received 0.00 300.00
(liability) at end 4 March 31, 2028 321.78 during the
Insurance and escalation claims are accounted for on
of current year 5 March 31, 2029 to March 31, 2033 341.15 period / year
the basis of admission/final settlement.
6 March 31, 2030 to March 31, 2034 1,911.07 Utilization / 92.12 0.00
Changes in Benefit Obligations and Assets over the 7 Beyond 10 years 9,648.84 d) Current Assets, Loans and Advances etc. adjustment
Year ending during the
The value on realisation on current assets, loans and
Change in For the Year For the B Weighted average duration of 12 Years advances in the ordinary course of business would period / year
A Defined Benefit Ended Year Ended defined benefit obligation Closing balance 219.32 311.44
not be less than the amount at which they are stated
Obligation (DBO) 31-03-2024 31-03-2023 C Accrued Benefit Obligation at 4,847.61 of unutilized
31-03-2024 in the Balance sheet.
1 DBO at end of 4,602.63 4,525.28 fund
prior year e) Balance Confirmations
Sensitivity Analysis
2 Current service 100.88 108.48 ii) An amount of H 8.00 Crore was paid as advance
The Company has a procedure for obtaining periodic
cost DBO on base assumptions as at 4,847.61 for restoration of power supply to Dissergarh
3 Interest cost on 329.94 297.20 confirmation of balances from banks. There are no
31 March 2024 Power Supply Corporation Limited (presently
the DBO unconfirmed balances in respect of bank accounts
A Discount Rate India Power Corporation Limited) as per the
4 Actuarial (gain)/ (180.58) 255.12 and borrowings from banks & financial institutions.
Discount Rate as at 31-03-2024 7.00% direction of Hon’ble High Court, Calcutta in
loss - experience With regard to other parties, reconciliations are made
1 Effect on DBO due to 0.5% (262.54) A.S.T. No.- 617 of 2011, dated 26.08.2011.
5 Actuarial (gain)/ 160.48 (274.16) and the balance confirmation letters/emails are also
increase in Discount Rate
loss - financial sent on a periodic basis. Some of such balances are
assumptions Percentage Impact -5% iii) An adhoc advance amount of H 3.96 Crore was
2 Effect on DBO due to 0.5% 288.94 subject to confirmation/reconciliation. Adjustments, paid to IPCL in view of disconnection notice
6 Benefits paid (165.74) (309.30)
decrease in Discount Rate if any will be accounted for on confirmation/ served by them which is pending in appeal
from plan assets
Percentage Impact 6% reconciliation of the same, and are not anticipated proceedings before the Hon’ble Ombudsman,
7 DBO at end of 4,847.61 4,602.62
current year to materially affect the results. WBERC. The said amount has been shown
7 Other Information
f) Other Matters reported in the financial statements under Note-6.2 (Other Current Asset).
a) Segment Reporting
For the Year For the of subsidiary companies
Change in Fair iv) An amount of H 39.19 Crore has been paid as
B Ended Year Ended The group's main business is Coal mining and related
Value of Assets Eastern Coalfields Limited security deposit for Power Bill to IPCL as per
31-03-2024 31-03-2023 services. All activities of the group revolve around
1 Fair value of 2,573.60 2,081.12 i) Fund under Master Plan: Eastern Coalfields the direction of Hon’ble High Court, Calcutta
the main business. As such, there are no separate
assets at end of Limited (ECL) receives fund under Master Plan for in A.S.T. no. 1904/2011, dated: 21.12.2011. The
reportable segments for the group.
prior year dealing with rehabilitation of persons dwelling said amount has been shown under Note-6.1
2 Interest income 193.52 153.81 in coal bearing / fire affected leasehold area of (Other Non- Current Asset). The above matters
on plan assets the Company . Asansol Durgapur Development was put up before Arbitrator appointed by
Authority (ADDA) is the implementing agency Hon’ble Supreme Court for resolution of
dispute. Arbitrator vide its order dated 15th
486 487
February 2021 has given the decision that mine to SAIL. Accordingly, it was handed over Morrison Limited, Kolkata. Besides this there are Advance of 37.76 crore which has been adjusted
as the issue raised is subject matter of a Writ to SAIL as confirmed by GM, Eastern Jharia Area some more claims of the Company in the court against these encashed Bank Guarantees
Petition pending in Calcutta High Court, the vide his Letter No. BCCL/GM/EJA/2016/1429 of law amounting to H0.04crore. and balance of 2.97 crore has been shown as
same cannot be decided in present Arbitration. dated 28.07.2016. Further, the Company has Deposit with Courts in the books of accounts.
Appeal has been filed under Section 34 of the spent H5.08 Crore up to 28.07.2016 (Power bill iii) Fund under Master Plan: Bharat Coking Coal An Arbitration Tribunal has been constituted by
Arbitration and Conciliation Act, 1996 before H4.04 Crore, Repair & Maintenance and others Limited (BCCL) receives fund from Coal India the order of High Court, where the proceedings
Hon'ble High Court, Delhi, (The Appellate H1.04 Crore) on maintaining the possession of Limited against Master Plan for dealing with of the case are presently being carried out. As
Jurisdiction) in respect of the above matter. the mine as custodian which has been booked fire and rehabilitation of persons dwelling in per the direction of Delhi High Court vide its
The said appeal was dismissed by Hon'ble High as ‘Receivable’ in the Financial Statement. The coal bearing / fire affected area of the Company order dated 27.01.2021, the remaining two
Court, Delhi vide order dated 29th October 2021. amount is adjustable from the sale proceeds leasehold. The Company is the implementing Bank Guarantees amounting to 19.19 crore
from the coal stock lying at that time. agency for fire projects and rehabilitation of were encashed by the Bank and was deposited
v) A dispute between ECL and Bihar State Power persons dwelling in the Company houses. Jharia with the Registrar of Delhi High Court. Amount
Company Limited has been referred to AMRCD It is updated that as against BCCL's, claim Rehabilitation & Development Authority (JRDA) paid for DPR 6.50 crore as appearing under the
regarding compensation claim for short lifting of H 5.08 Crore, SAIL has also claimed H is the implementing agency for rehabilitation of head "Development" (CWIP Note-3.2) of WJ Area
of Coal pertaining to 2016-17 to 2020-21. On 17.00 Crore towards de-watering of mine persons dwelling in non-BCCL houses, for which will be adjusted after the final verdict of the
receipt of AMRCD decision the amount can etc. which was not accepted by BCCL. the Company acts as a nodal agency. Fund arbitration proceedings
be quantified. At present ECL has calculated H Again GOI appointed Chairman, CIL to received as nodal agency is advanced to JRDA
141.18 Crores towards compensation claim for manage and operate the said mines vide and such Advance (shown under Other Advance Central Coalfields Limited
the period 2016-17 to 2020-21. notification in the Gazette of India F. No. CBA2- in Note-6.2) as well as the relevant Fund, both i) Against the demand of Income Tax Department
13016/1/2018-CBA2 dated 13th Feb, 2020. are adjusted on the basis of utilization statement regarding TCS from Road Sales Customers
vi) An amount of H 214.52 Crore has been claimed
Chairman CIL, in turn, authorized ‘CMD, BCCL’ submitted by JRDA. There is an Advance of under section 206 C of the Income Tax Act, 1961,
by NTPC Farakka for the year 2020-21 and 2021-
to act on his behalf to manage and operate H1.11 Crore as on 31st March, 2024(as on 31st amounting to H 106.56 Crores, the department
22 and NTPC Kahalgaon for the year 2017 to
the said mines as per relevant provisions of March,2023 H1.11 Crore) to JRDA awaiting has collected H 71.79 Crores by attaching the
2021 on account of excess surface moisture in
Coal Mines (Special Provision) Act, 2015 as utilization certificate for their adjustment bank account of the company and the balance
coal despatched from Rajmahal Area of ECL.
amended by Mineral Laws (Amendment) amount of H 34.77 Crores has been deposited
The said claim has not been acknowledged by Position of Unutilized Fund under Master Plan
Ordinance 2020 and the rules made thereunder by the company. The company in turn has
ECL in Joint reconciliation Statement due to as on 31st March, 2024 is shown hereunder:
to manage and operate the said mine. recovered H 77.53 Crores from the customers
the geological and meteorological conditions at
Accordingly the mine was placed under the as on balance sheet date and the balance
Rajmahal coal mines. [H in Crore]
administrative control of GM, Eastern Jharia H 27.99 Crores is under process of recovery.
Particulars 31-03-2024 31-03-2023
Bharat Coaking Coal Limited Area (Dhanbad) is take over the possession Subsequently, the case was disposed by CIT
of the Parbatpur- Central Coal mine of Opening balance 143.90 464.57
i) Possession of Parbatpur (Central) Coal Mine: (A) and against the said order CCL preferred an
the Company vide Letter no. BCCL/D(T)/ of unutilized
Allocation of Parbatpur (Central) Coal Mine fund under appeal before the ITAT since the order issued
P&P/F-83(B)/2020/45 dated 03/03/2020 to by CIT(A) was non speaking in nature. ITAT in its
(Bokaro) in 2006 by Government of India Master Plan at
manage and operate with immediate effect. the beginning of order dated 23.01.2023 given verdict in favour of
(GOI) to Electro steel Casting Limited stood
From the date of second time take over the period / year CCL and allowing all grounds raised by the CCL.
de-allocated w.e.f. 31.03.2015 and thereafter
possession of the mine as custodian, the Fund Received 0.00 6.37
Govt. of India (GOI) assigned the said mine to
Company has spent H 35.05 Crore (Total H 40.13 during the Western Coalfields Limited
the designated Custodian i.e. ‘Chairman, CIL’ period / year
crore since 28.07.2016) on maintaining the i) Against the levy of 5% tax under “Madhya
in terms of the provisions of the Coal Mines Utilization / 5.58 327.05
mine as custodian which has been booked as Pradesh Gramin Avsanrachana Tatha Sadak
(Special Provisions) Second Ordinance, 2014 adjustment
‘Receivable’ in the Financial Statements. The Vikas Adhiniyam, 2005” (MPGATSVA 2005),
(DO No. 13016/36/2015-CA-III dated 31.03.2015 during the
Parbatpur-Central Coal Mine has been handed period / year some consumers as well as WCL has moved
issued by the Joint Secretary MOC). Chairman
over to M/s JSW Steel w.e.f. 31.07.2023. Closing balance 138.32 143.89 to the Hon'ble High Court of Madhya Pradesh,
CIL, in turn, authorized ‘CMD, BCCL’ to act on
of unutilized Jabalpur whereby vide interim order dated
its behalf (CIL/CH/CUSTODIAN/27/1608 dated ii) The Company ( BCCL, Kolkata Office) has filed fund 15/02/2006 the Company is being directed not
31.03.2015). Accordingly, Parbatpur (Central) a civil suit in the High Court at Kolkata (G.A.
Coal Mine was placed under the administrative to deposit this tax to the State Government
No.2797 of 2013/ C.S. No. 11 of 2013) against A Contract was awarded to M/s AMR-BBB
control of Eastern Jharia Area (Dhanbad) but to keep in a fixed deposit. The matter
M/s Turner Morrison Limited, Kolkata for (i) a Consortium for "Development of Kapuria Block
of the Company (Office Order No. the was later decided by the Jabalpur High Court
declaration that the Company is the lawful and extraction of coal from Kapuria Block by
Company: CS: F17 (A):138 dated 03/04/2015 in favour of MP Government against which
owner of the its present office premises at 6, mass production technology package for a
issued by Company Secretary the Company). the WCL has filed an SLP before the Hon'ble
Lyons Range, Kolkata-700001, (ii) a declaration minimum guaranteed production of 2.0 MTY on
Vide Office Memorandum No.13016/77/2015- Supreme Court and the matter is still subjudice.
that there was no relationship as the landlord turnkey basis" in April 2012. The said contract was
CA-III dated 06.10.2015 of GOI, MOC, Parbatpur The Hon'ble Supreme Court of India vide its
and the tenant between them and (iii) a decree cancelled on 21.01.2021 and two Performance
(Central) Coal Mine has been allotted to M/s SAIL interim order dated 02-08-2010 directed the
of H187.74 crore with interest against the Rent Bank Guarantees valuing 34.79 crore of M/s
and the Designated Custodian i.e. Chairman, CIL Company to file its returns for all the years
etc. already paid by the Company to M/s Turner AMR BBB Consortium has been encashed by
had been advised to hand over possession of the under protest as per MPGATSVA (2005) and also
BCCL. The Company had an outstanding Capital
directed the assessing officer to complete the
488 489
assessments of returns filed by the Company. Accordingly, CIL directed WCL to refund the
ii) Land at Baliapanda Mouza, Puri: 5 acres of land manner. The company has received H18.55 Crore
In compliance with the Supreme Court directions, amount deducted from the six suppliers.
at Baliapanda Mouza, Puri amounting to H 0.94 in FY 2016-17 towards Geological Report and
up to 31/03/2024 the assessing officers raised
The Hon'ble High Court of Calcutta asked these crores (including deposit for boundary wall) Railway Siding etc.
total demand of H787.80 Crores against the
suppliers to deposit the disputed amount in taken as lease from Puri Municipality with a lease
Company (H746.53 Crores) which is paid in full v) The E.Co Railway vide letter no. 14.11.2022
question in an account with the Joint Receiver period of 99 years w.e.f. 01.04.1996. However,
as per the legal advice. However, the Company authorized the opening of the Phase - I line of
appointed by the Hon'ble High Court. But Tahsildar Puri vide his office memo no. 7206
has preferred Appeals against the assessment MCRL for traffic movement after inspection and
the suppliers failed to do so and the Hon'ble dated 21.08.2004 addressed to the Collector
orders / demand notes with Competent trial run. Accordingly the expenditure incurred
Calcutta High Court in July 2008 vacated the Puri with a copy to MCL, Bhubaneswar stated
Appellate Authority, Jabalpur and Bhopal. upto 31.12.2022 were capitalised w.e.f. 31.12.2022
stay of recovery of excess payment made to that the said area comes under the “Sweat water
zone” and it has been declared as restricted area and amortisation for the quarter Jan'23 to Mar'23
Up to 31/03/2024, an amount of H825.31 such suppliers.
by the Govt. in Housing and Urban Development was charged in this Financial statements.
Crores (H787.81 Crores) has been received
from customers on account of MPGATSVA Hence, CIL directed WCL to restart the recovery Department. Though the said land comes under g)
Misappropriation, Fraud, Excess payment, theft
Tax (including VAT/CST thereon up to 31st of such amount from the running bills of the Sweat Water Zone, Tahsildar, Puri has accepted etc. cases
March 2016). Against this H 746.53 Crores is suppliers as per directives of Court. However, ground rent along with cess till 2008-09. Further
i) During the financial year 2013-14, a case of
paid under protest (includingH5.91 Crores on pending disposal of the case since 2008-09 the D(P), MCL vide letter no. 4707 dated 08.01.2019,
misappropriation of Company’s fund for personal
accounts of for VAT/CST) against the demand recovery of H2.58 Crores is kept under liability in requested to Collector, Puri for early hand over
gain came to the notice of the management.
raised by Assessing Officer up to 31/03/2024. the books of account. of alternate land to start the stall project. Letter
The matter has been investigated by different
Out of balance amount of H37.52 Crores,H33.22 has been written to Collector, Puri by DGM,
Mahanadi Coalfields Limited agencies and appropriate action for recovery is
Crores has been kept in deposit leaving balance MCL on 05.12.2019 for allotment of alternative
underway. As per the estimate of the internal
i) Construction of MCL Institute of Natural patch of land. Subsequently,Dy. GM , MCL and
of H4.29 Crores to be deposited. The cumulative audit department of Coal India Limited, the
Resources and Energy Management(MINREM): CM (Mining) met collector , Puri on 18.12.2020.
interest accrued on fixed deposits made on this amount involved is H 1.17 Crore approximately.
The Group is constructing an Institute ‘MCL Collector opined that the land was wrongly
account is added to liability.
Institute of Natural Resources and Energy leased by Municipality to MCL beyond their ii) One fraud case has been cropped up at
ii) By virtue of enactment of Mineral Validation Act, Management(MINREM), Bhubaneswar’ with an jurisdiction, hence Municipality cannot allot any Sohagpur Area in respect of salary/ wages billing
1992, the Company has raised supplementary estimated total value of H 138.83 crores through alternative land in favour of MCL and suggested by a clerk amounting to H0.16 Crore, out of which
bills on customers’ up to 4.4.1991 on a/c of the contractor M/S. NBCC. The Construction for apply of refund of premium of land earlier H0.09 Crore has been deposited by him. Balance
Cess and Other Taxes amounting to H3.21Crores work was stopped because Bhubaneswar deposited with Municipality ,Puri. MCL has amount is not recovered till date and involved
(H3.21 Crores). Pending outcome of Special Development Authority did not consider applied for refund with Municipality, Puri and person has been terminated from the service.
Leave Petition in Supreme Court, against the the proposal for approval earlier. However the matter is under process. The case is being investigated by CBI, Jabalpur
judgment of Ranchi Bench of Hon'ble Patna on 02.11.2018 BDA have granted necessary and is under trial, prosecution evidence stage at
High Court in favour of the Company the same permission in favour of MCL. The MOU has iii) On 24th September 2014, the Hon’ble Supreme CBI Trial Court, Jabalpur
is shown as liability for Cess on Royalty under been revalidated for a period of two years from Court cancelled allocation of 204 coal blocks
made during 1993-2012 citing the allocation iii) Excess payment is reported to be made to a
the head Other Current Liabilities. 09.01.2020 & the above work to be completed
process as arbitrary and allocations as illegal. security agency at Bishrampur Area amounting
within 12 months and the revised project cost
iii) The Rate Contracts (RC) for supply of explosives Accordingly the Coal Block namely Utkal A to H1.21 Crore. The cases are being dealt by
is H155.33 crores. NBCC has not resumed the
by different suppliers was expired on 28th (including Gopal prasad west) and Talabira II CBI, Raipur and is under trial stage and at
work within 15 days as per the timeline given
February’2006 and pending renewal of the & III (MNH Shakti Limited, subsidiary of MCL) prosecution evidence stage.
by Secretary, MOC on 04.08.2021. After several
same the suppliers were asked to continue the letters, final notice has been served to NBCC to allocated earlier in favour of the Group also iv) Excess payment is reported to be made to
supplies at the same prevalent rates, subject start work with in 15 days from the date of issue got de-allocated. a security agency at Korba Area amounting
to the condition that supplies during such of letter i.e. on 12.10.2021, failing which MCL to H0.32 Crore. The cases is being dealt by
extended period would be governed by the rates iv) As per the provisions of the Coal Mines (Special
will have no option left than to proceed with CBI, Raipur and is in trial and at prosecution
as may be fixed in the new RC. This continued Provisions) Act 2015, the Government has
termination of Memorandum of Understanding. evidence stage.
up to 28th July, 2006. allocated Talabira II & III coal block to Neyveli
Termination of MOU with NBCC approved
Lignite Corporation Limited (one of the previous v) Excess payment is reported to be made
by competent authority along with
The new RC was finalised and came into effect allottees) as communicated vide its letter dated to security agency at Jamuna Kotma Area
penal provision as per MOU has been
from 29th July, 2006 with a reduced price of 17th February 2016. MHN Shakti Ltd., a subsidiary amounting to H1.40 Crore. The case is being
communicated to NBCC on 05.01.2022.
the explosives and recovery of excess amount of MCL is entitled to get compensation from dealt by CBI Jabalpur and is under trial and at
The job of PMC for balance work has been
paid was made from the suppliers against the new allottee through the Nominated prosecution evidence stage
entrusted to CMPDIL, Ranchi vide letter No. MCL/
which some of the suppliers filed a Civil Suit Authority, MoC towards the amount spent by it
Sambalpur/Civil/21-22/1641 dated 02.02.2022 vi) Excess payment is reported to be made to
before Hon'ble Calcutta High Court granted for acquisition of land, capital work in progress
The group has incurred H 122.08 crores towards a security agency at Johilla Area amounting
a stay against recovery in December 2006. and intangible assets. The compensation is
construction of the institute as on 31.03.2024 to H1.10 Crore. The case is being dealt by CBI,
being determined by the Nominated Authority
under the Coal Mines (Special Provisions) Act Jabalpur and is at charge Stage
and will be received by the company in phased
490 491
j) Suspension of mines which was nettd from the Stripping activity provision
vii) Irregularities in deployment of OB Contractor recovered from the party and for balance figure
The functional director of Coal India Limited vide its for disclosure in the financial statements. Stripping
at Amera OC of Bisrampur Area and payment matching provision is done in books. The same is
229th meeting dated 05th June, 2020 has ratified the activity provision, so recognised and disclosed as non-
involving H0.28 Crores. The case is under trial at under CBI investigation vide case no. RC1(A)/96
decision to temporarily suspend the mining operation current provisions, was representing the variation in
CBI, Raipur and is at pre charge stage. DTD 03.01.996, Chandrapur.
at NEC (in Tikak, Tipong and Tirap Colliery) from 03rd volume of overburden removed with respect to the
viii) Theft of goods during the period is H0.27 Crores x) During the year 1995-96, a theft case at CWS June, 2020 till forestry and other statutory clearances expected volume of overburden.
(Previous year H0.25 Crores), which has been Stores was suspected and police complaint are obtained and mines are made operational.
During the year, based on an opinion from the
duly accounted for. was lodged. During the course of Departmental However Mining operations have been started in
Accounting Standard Board (ASB) of the Institute
enquiry many kardex were seized/taken out Tikak Extension OCP mines from 10th February, 2022.
ix) During the year 1993-94 a suspected fraud of Chartered Accountants of India (ICAI) on the
for investigation. Pending final outcome of the k) No proceedings have been initiated or pending
case was detected at Nandgaon incline of stripping activity accounting of the group, a revised
enquiry, the workshop continues to maintain a against the company on the date of the Balance accounting on stripping activity in accordance with
Chandrapur Area, quantified by the Internal
provision of H0.14 Crores. Sheet for holding any benami property under the Appendix B Stripping Costs in the Production Phase
Audit Department to the tune of H0.12 Crores.
Benami Transactions (Prohibition) Act,1988. of a Surface Mine, of Ind AS 16, Property Plant, and
Thereafter, an amount of H0.02 Crores has been
l) Based on the information to the extent available Equipment has been implemented by the group.
h) Details of Capital Expenditure by Joint Venture Entities during the year*: Existing Advance Stripping balance as at 31st March,
with the Group, there were no transactions with
(H in crore) the companies struck off under section 248 of the 2022 has been considered as Stripping Activity
Hindustan Coal Lignite Companies Act, 2013. Assets as at 01.04.2022 under property plant and
International CIL NTPC Talcher
Urvarak and Urja Vikas equipment, in the restated financial statements and
Name of Entity Coal Ventures Urja Private Fertilizers
Private Ltd. Ltd. Ltd.
Rasayan private 8
Restatement for the year ended 31st March thereafter such assets as ascertained in terms of the
Limited Limited 2023 and as at 1st April 2022 current accounting pertaining to the year ended 31st
Addition in Property Plant and - - 104.47 15,434.64 - In accordance with Ind AS 8, ‘Accounting Policies, March 2023 and 31st March 2024 has been added to
Equipment Changes in Accounting Estimates and Errors’ and reflect the amount of stripping activity asset as at 31st
Change in Capital Work in Progress - - 2,145.66 -15,039.14 - Ind AS 1, ‘Presentation of Financial Statements’, the March 2024. The amount of stripping activity assets
Addition in Intangible Assets - - - 0.92 - so appearing under property plant and equipment
Company has retrospectively restated its Balance
Change in Capital Advance - - -67.35 -20.06 - is amortised over the remaining useful life of the
Sheet as at 31st March 2023 and 1st April 2022 (beginning
Total Capital Expenditure - 2,182.78 376.36 - respective mines.
of the preceding period; as restatement prior to that
CIL Percentage holding in the entities 0.19% 50.00% 33.33% 33.33% 50.00%
period is impracticable) and Statement of Profit and
Share of CIL in JV’s CAPEX 0.00 - 727.59 125.45 - Amount of stripping activity provision representing
Loss and Statement of Cash Flows for the year ended
*Disclosure only for CAPEX calculation for MOU purposes. Consolidation of above Joint Ventures have been done using equity method.
the credit balance of the stripping activity created
31st March 2023 for the reasons as stated below:
till 31.03.2022 is being carried forward and the same
i) Disaggregated revenue information: In case of opencast mining, CIL has consistently
is being reversed and credited to profit and loss
adhered to its accounting policy of stripping activity
The table below presents disaggregated revenues from contract with customers information as per requirement of account in systematic manner. Accordingly H 2,438.43
(Overburden removal) since its inception. Under the
Ind AS 115, Revenue From Contract with Customer for revenue from sale of coal & others: crore (for the year ended 31.03.2023 H 2,777.30 crore)
accounting followed earlier stripping activity cost
(H in crore) has been credited to the statement of profit and loss
comprises two components viz. Advance stripping
For the Year For the Year account, leaving a balance of H 61350.26 crore as on
and Stripping activity provision. Advance stripping
Disaggregated revenue information: Ended Ended date (H 63788.69 crore as on 31.03.2023).
31-03-2024 31-03-2023 was recognised based on physical measurement,
Types of goods or service Reconciliation of financial statement line items which are retrospectively restated are as under:
- Coal 1,30,321.46 1,27,607.70 (i) Reconciliation of restated items of Balance Sheet as at 31st March 2023 and 1st April 2022
- Others 4.19 19.77
Total revenue from Sale of Coal & others 1,30,325.65 1,27,627.47 As at 31.03.2023 As at 01.04.2022
Types of customers Particulars Note As As
- Power sector 92,753.59 86,043.63 previously Adjustments As restated previously Adjustments As restated
- Non-Power Sector 37,569.06 41,837.48 reported reported
- Others or Services 3.00 (253.64) Property, plant 3.1 44,447.97 12,586.49 57,034.46 42,697.79 13,246.92 55,944.71
Total revenue from Sale of Coal & others 1,30,325.65 1,27,627.47
and equipment
Types of contract
Deferred tax 11.2 4,177.00 (1,362.48) 2,814.52 4,128.42 - 4,128.42
- FSA 1,05,193.86 94,131.60
- E Auction 22,324.33 31,463.73 assets
- Others 2,807.46 2,032.14 Total Assets 211,206.65 11,224.01 222,430.66 180,237.68 13,246.92 193,484.60
Total revenue from Sale of Coal & others 1,30,325.65 1,27,627.47 Non-current 9.1 68,827.95 7,312.68 76,140.63 65,944.00 13,246.92 79,190.92
Timing of goods or service provisions
- Goods transferred at a point in time 1,16,433.77 1,12,858.18 Other equity 7.2 51,082.16 3,598.05 54,680.21 36,980.31 - 36,980.31
- Goods transferred over time 13,891.88 14,769.29 Deferred tax 11.2 1,330.68 313.28 1,643.96 801.35 - 801.35
Total revenue from Sale of Coal & others 1,30,325.65 1,27,627.47 liability
Total Equity and 211,206.65 11,224.01 222,430.66 180,237.68 13,246.92 193,484.60
Liabilities
492 493
NOTES TO THE FINANCIAL STATEMENTS (CONSOLIDATED) GREEN INITIATIVE APPEAL TO SHAREHOLDERS
The Shareholders holding shares in demat form are requested to register their e-mail id with their Depository.
ENDED 31-03-2024 (Contd..)
Shareholders holding shares in physical form are requested to send their consent to our Registrar and Transfer Agent,
(ii) Reconciliation of restated items of Statement of Profit and Loss for the year ended 31 March 2023 M/s Alankit Assignments Limited on the following format.
As
Particulars Note previously Adjustments As restated
reported
Advance stripping adjustment (c) (2,377.20) 2,389.48 12.28
Ratio variance reserve (b) 6,186.30 (8,323.70) (2,137.40) Date: _______________
Improved access to coal (a) - (1,497.24) (1,497.24) M/s. Alankit Assignments Limited.
Stripping activity adjustment (a+b+c) 13.6 3,809.10 (7431.46) (3,622.36) Unit: COAL INDIA
Depreciation, amortization and impairment expenses 13.5 4,675.27 2,157.67 6,832.94
M/s. Alankit Assignment Limited
Profit before tax 38,000.81 5,273.79 43,274.60
Tax Expense 14.1 9,875.87 1,675.75 11,551.62 205-208 Anarkali Complex Jhandewalan Extension,
Profit for the period 28,124.94 3,598.04 31,722.98 New Delhi – 110 055
Total Comprehensive Income 28,389.57 3,598.04 31,987.61 Phone No: 011-4254-1234/2354-1234
E-mail id: [email protected]
Impact on profit before tax:
Website: www.alankit.com
The adoption of the new accounting of stripping activity during the year has resulted in the restatement Toll free no-1860-121-2155
of previously reported profit before tax of FY 2022-23 H 38000.81 crore to H 43274.60 crore i.e. increase by
H 5273.79 crore .Whereas, the increase in profit before tax in FY 2023-24 attributable to the said accounting of
stripping activity is H 3309.03 crore.
I/We______________________________________holding_______________shares of the Company in physical form intend
(iii) Reconciliation of Statement of Cash Flows for the year ended 31 March 2023
to receive all communications including notices, annual reports, through my/our e-mail id given hereunder:
As previously
Particulars Adjustments As restated
reported
Profit before tax 38,000.81 5,273.79 43,274.60
Folio No ___________________________ E-mail id ________________________
Depreciation, amortization and impairment expenses 4,675.27 2,157.67 6,832.94
Stripping Activity Adjustment 3,809.11 (7,431.46) (3,622.35)
Cash flows from operating activities before changes in 42,831.75 - 42,831.75
following assets and liabilities ___________________________
(iv) Reconciliation of Earnings per share Signature of the first holder
As a result of the above-mentioned adjustments, basic and diluted earnings per share for the financial year
2022-23 changed as below:
As previously
Particulars Adjustments As restated
reported
Basic and Diluted EPS 45.70 5.84 51.54
9 Miscellaneous Informations
i. Figures for previous year have been regrouped wherever necessary, in order to make them comparable.
ii. Note – 1 and 2 represents Corporate information and Significant Accounting Policies respectively, Note 3 to
11 form part of the Balance Sheet and 12 to 13 form part of Statement of Profit & Loss . Note – 16 represents
Additional Notes to the Financial Statements.
Signature to Note 1 to 16.

Sd/- Sd/- Sd/-

Partner Chairman-Cum-Managing Director & Director (Finance) & CFO
Membership No. 052438 CEO
DIN- 08073913 DIN- 10199741
Sd/- Sd/-
494 495
NOTICE NOTES:- payment of dividend. The Company or M/s Alankit
Assignments Ltd cannot act on any request received
1. Ministry of Corporate Affairs (“MCA”) vide its circular directly from members holding shares in electronic mode
dated 25th Sept’ 23 read with circular dated 5th May
Notes
for any change of bank particulars or bank mandates.
NOTICE is hereby given to the members of Coal India Limited to this Resolution and payable to M/s. R. M Bansal & Co, Cost ’20, 13th Jan’21, 8th Dec’21, 14th Dec’21,5th May 22 Such changes are to be made only to the Depository
that the 50th Annual General Meeting of the Company will Auditor (Registration Number '000022) who were appointed and 28th Dec’22 (collectively referred to as “MCA Participants (DPs) by the members.
be held on Wednesday, 21st August’ 2024 at 11:00 A.M as Cost Auditor by the Board of Directors of the Company to Circulars”) had permitted holding of the Annual
IST through Video conferencing (VC)/Other Audio-Visual conduct the audit of the cost records of CIL (Standalone) for the General Meeting (“AGM”) through VC / OAVM, 7. Members may avail the facility of nomination in terms of
Means (OAVM) to transact the following businesses: FY 2023-24 and FY 2024-25 be and is hereby ratified.” without the physical presence of the Members at a Section 72 of the Companies Act, 2013 by nominating
common venue. Further, the Securities and Exchange any person to whom their shares in the Company shall
“FURTHER RESOLVED THAT the Company Secretary be
Board of India (“SEBI”) vide its Circular dated 6th vest on occurrence of events stated in Form-SH-13. Form-
ORDINARY BUSINESS: and is hereby authorized to file necessary forms with MCA as
Oct’23 had also granted certain relaxations. In SH-13 is to be submitted in duplicate to M/s Alankit
per applicable provisions of Companies Act, 2013 read with
1. To receive, consider and adopt: compliance with the provisions of the Companies Act, Assignments Limited, RTA of the Company. In case of
Rules thereunder.”
2013 (“Act”), SEBI (Listing Obligations and Disclosure shares held in dematerialized form, the nomination has to
a. The Standalone Audited Financial Statements of the be lodged with the respective Depository Participant.
Requirements) Regulations, 2015 (“SEBI Listing
Company for the financial year ended March 31, Special Business: - Ordinary Resolution Regulations”), MCA Circulars and SEBI Circulars,
2024, including the Audited Balance Sheet as on 8. Members are requested to notify immediately any change
ITEM No. 6: the AGM of the Company is being held through VC
March 31, 2024, and the Statement of Profit & Loss of address and Bank Account:
To consider and if thought fit, to pass with or without / OAVM. The company's registered office shall be
for the year ended on that date and the Reports
modification(s), the following resolution as an deemed the venue for the AGM. i. to their DP in respect of shares held in
of the Board of Directors, Statutory Auditor and
Comptroller and Auditor General of India thereon. Ordinary Resolution: dematerialized form and
2. Since this AGM is being held pursuant to MCA Circulars
“RESOLVED THAT pursuant to the provisions of Sections through VC / OAVM, physical attendance of Members ii. to the Company at its Registered Office or to its
b. The Consolidated Audited Financial Statements of
152 and other applicable provisions of the Companies Act, has been dispensed with. Accordingly, the facility RTA, M/s Alankit Assignments Ltd. in respect of their
the Company for the financial year ended March 31,
2013 and the rules made thereunder (including any statutory for appointment of proxies by the Members will not physical shares, if any, quoting their folio number.
2024, including the Audited Balance Sheet as on
modification(s) or re-enactment thereof for the time being in be available for the AGM; hence, the Proxy Form
March 31, 2024 and the Statement of Profit & Loss 9. Institutional / Corporate Shareholders (i.e. other
force) and provisions of any other guidelines issued by relevant and Attendance Slip are not annexed to this Notice.
for the year ended on that date and the Reports than individuals / HUF, NRI, etc.) are required to
authorities, Shri Mukesh Agrawal [DIN: 10199741], who was Members attending the AGM through VC / OAVM shall
of Statutory Auditor and Comptroller and Auditor send a scanned copy (PDF/JPG Format) of its Board
appointed by the Board of Directors as an Additional Director be counted for quorum under Section 103 of the Act.
General of India thereon. or governing body Resolution/Authorization etc.,
of the Company with effect from 8th February’2024 and who
holds office upto the date of this Annual General Meeting in 3. The Company is providing a facility for voting by authorizing its representative to attend the AGM through
2. To confirm 1st and 2nd Interim dividend paid @ H 15.25/-
terms of Section 161(1) of Companies Act, 2013 and in respect electronic means (e-voting) and the business set out VC / OAVM on its behalf and to vote through remote
per share (152.50%) and H 5.25/- per share (52.50%)
of whom the Company has received a notice in writing from in the notice will be transacted through such voting. e-voting. The said Resolution/Authorization shall be sent
respectively on equity shares for the financial year 2023-
a Member under Section 160(1) of the Companies Act, 2013 Information and instructions relating to e-voting are given to [email protected], Scrutinizer through your
24 and to declare the final dividend @ H 5/- per share
proposing his candidature for the office of the Director, be and in this notice in Note no. 23 registered email address with a copy marked to evoting@
(50%) on equity shares for the financial year 2023-24.
is hereby appointed as a Whole time Director to function as nsdl.co.in. Institutional shareholders (i.e. other than
Director(Finance), CIL of the Company w.e.f 8th February’2024 4. The Final dividend on equity shares, as recommended individuals, HUF, NRI etc.) can also upload their Board
3. To appoint a director in place of Smt Nirupama Kotru
and until further orders, in terms of Ministry of Coal letter no- by the Board of Directors at its 464th meeting held on 2nd Resolution / Power of Attorney / Authority Letter, etc. by
[DIN- 09204338] who retires by rotation in terms of
21/17/2020-Establishment(BA) dated 5th February 2024. He is May 2024, if declared at the Annual General Meeting, clicking on "Upload Board Resolution / Authority Letter"
Section 152(6) of the Companies Act, 2013 and Article
liable to retire by rotation.” will be paid within 30 days of approval in the AGM as per displayed under the "e-Voting" tab in their login.
39(j) of Articles of Association of the Company and being
Companies Act 2013 to the Members or their mandates
eligible, offers herself for reappointment. “FURTHER RESOLVED THAT the Company Secretary be whose names appear in the Company’s Register of 10. Non-Resident Indian Members are requested to inform
and is hereby authorized to file necessary forms with MCA as Members on 16th August’ 2024. M/s Alankit Assignments Limited, immediately of:
4. To appoint a director in place of Shri Debasish Nanda
per applicable provisions of Companies Act, 2013 read with
[DIN- 09015566] who retires by rotation in terms of 5. Members are advised to submit their Electronic Clearing i) Change in their residential status on return to India
Rules thereunder.”
Section 152(6) of the Companies Act, 2013 and Article System (ECS) mandates, to enable the Company to make for permanent settlement
39(j) of Articles of Association of the Company and being By order of the Board of Directors remittance by means of ECS. Those holding shares in
eligible, offers himself for reappointment. For Coal India Limited physical form may obtain and send ECS mandate form ii) Particulars of their bank account maintained in India
to M/s Alankit Assignments Limited, Registrar & Share with complete name, branch, account type, account
Sd/- number, IFSC code and address of the bank with pin
Special Business:- Ordinary Resolution (B.P DUBEY) Transfer Agent (RTA) of the Company. Those holding
shares in Electronic Form may obtain and send ECS code number, if not furnished earlier.
ITEM No. 5: Company Secretary &
Date: 28th June’ 2024 Compliance officer mandate form directly to their Depository Participant
To consider and if thought fit, to pass with or without 11. The Board of Directors of our company at its 459th &
(DP). Those who have already furnished ECS Mandate
modification(s), the following resolution as an Registered Office: 462nd meeting held on 10th Nov’23 and 12th Feb’24
Form to the Company/ RTA /DP with complete details
Ordinary Resolution: CIN: L23109WB1973GOI028844 respectively had declared 1st Interim dividend @ Rs 15.25
need not send it again.
Coal Bhawan, Premises No-04 MAR, per share(152.50%) and 2nd Interim Dividend @ Rs 5.25
“RESOLVED THAT pursuant to the provisions of Section 148(3) Plot No-AF-III, Action Area-1A, 6. Members holding shares in electronic mode may note per share (52.50%) on the paid-up equity share capital of
and other applicable provisions of the Companies Act, 2013 and New town, Rajarhat, Kolkata-700156 that bank particulars registered against their respective the company which was paid in December’ 23 and March
the Companies (Audit and Auditors) Rules, 2014 (including any [email protected] depository accounts will be used by the Company for 24 respectively. Members who have not received or have
other statutory modification(s) or re-enactment thereof for the Website: www.coalindia.in
time being in force) the remuneration of H 4,40,000/- for each FY,
out of pocket expenditures at actuals restricted to 50% of Audit
fees and applicable taxes as set out in the explanatory statement
496 497
not encashed their dividend warrants may approach M/s of the unclaimed dividend are also uploaded on the 12. Pursuant to Section 143(5) of the Companies Act, 2013, the business hours on working days from 11.00 AM to 1.00
Alankit Assignments Limited, Registrar & Share Transfer Company’s website www.coalindia.in. Members, who Auditors of a Government Company are to be appointed PM from 3rd Aug ’24 to 13th Aug ’24.
Agent of the Company for obtaining dividend warrants. have not claimed their dividend pertaining to Interim or re-appointed by the Comptroller and Auditor General
16. In compliance with the aforesaid MCA Circulars and
Notes
Dividend 2017-18 and other dividends declared by the of India (C & AG) under Section 139(5) of Companies
The Ministry of Corporate Affairs had notified provisions company thereafter, are advised to write to the Company Act 2013 and in terms of sub-section(1) of Section 142 SEBI Circulars, the Notice of the AGM along with the
relating to unclaimed dividend under Section 124 of Integrated Annual Report 2023-24 is being sent only
immediately to claim dividends declared by the Company. of the Companies Act, 2013. Their remuneration has to
Companies Act 2013, Transfer of unpaid Dividend through electronic mode to those Members whose
be fixed by the Company in the Annual General Meeting
amount to Investor Education and Protection Fund Pursuant to the provisions of IEPF Rules, all shares in email addresses are registered with the Company/
or in such manner as the Company in General Meeting
under Section 125 of the Companies Act, 2013 and respect of which dividend has not been claimed for seven Depositories. Members may note that the Notice and
may determine. The Members of your Company in its
Investor Education and Protection Fund [Accounting, consecutive years shall be transferred by the Company to Integrated Annual Report 2023-24 will also be available
27th Annual General Meeting held on 29th September,
Audit, Transfer and Refund] Rules 2017. As per these the designated Demat Account of the IEPF Authority (‘IEPF on the Company’s website www.coalindia.in, websites of
2001 had authorised the Board of Directors to fix the
Rules, dividend, which are not encashed/ claimed by the Account’) within a period of thirty days of such shares the Stock Exchanges i.e. BSE and NSE at www.bseindia.
remuneration of Statutory Auditors.
shareholder for a period of seven consecutive years shall becoming due to be transferred to the IEPF Account. com and www.nseindia.com respectively, and on the
be transferred to the Investor Education and Protection Accordingly, the Company had transferred 33,235 equity 13. The Register of Directors, Key Managerial Personnel and website of NSDL https://www.evoting.nsdl.com.
Fund Authority (IEPF). The Rules also mandates the shares of Rs 10/- each pertaining to 480 shareholders their shareholding maintained under Section 170 of the
companies to transfer the shares of shareholders whose to the IEPF Account for the 1st Interim dividend 2016-17 Companies Act, 2013, will be available for inspection by 17. In terms of Section 152 of the Companies Act, 2013
dividends remain unpaid/ unclaimed for a period of and 14,065 equity shares of Rs 10/- each pertaining to the members electronically at the AGM. Shri Debasish Nanda [DIN: 09015566] & Smt Nirupama
seven consecutive years to the Demat account of IEPF 187 shareholders to the IEPF Account for the 2nd Interim Kotru [DIN: 09204338] , retires by rotation at the general
Authority. Hence, the company urges all the shareholders Dividend 2016-17 which remained unclaimed for seven 14. The Register of Contracts or Arrangements, in which meeting and being eligible, offers himself/herself for re-
to encash/claim their respective dividend during the consecutive years as per the prescribed procedure. Directors are interested, maintained under section 189 of appointment. Details of Director seeking re-appointment
prescribed period. Company has uploaded the details of Companies Act, 2013, will be available for inspection by as required to be provided pursuant to the provisions of
unpaid and unclaimed amounts lying with the Company Further, all the shareholders who have not claimed their the members electronically at the AGM. (i) Regulation 36(3) of Securities and Exchange Board of
on the website of the Company (www.coalindia.in), dividend in the last seven consecutive years from Interim India (Listing Obligations and Disclosure Requirements)
and also on the website of Ministry of Corporate Affairs Dividend 2017-18 and other dividends are requested to 15. All documents referred to in the accompanying notice Regulations, 2015 and (ii) para 1.2.5 of Secretarial
(www.mca.gov.in). claim the same at the earliest. In case valid claim is not are open for inspection at the AGM and such documents Standard on General Meetings (“SS-2”), issued by The
received by the company within the scheduled date, will also be available for inspection in physical or in Institute of Company Secretaries of India are as under.
As per Section 125 of the Companies Act, 2013 and electronic form at the Registered office of the Company
the Company will proceed to transfer the respective The Directors have furnished the requisite consent/
Investor Education and Protection Fund [Accounting, and copies thereof shall also be available for inspection
shares to the IEPF Account in terms of the IEPF Rules. In declaration for their re-appointment.
Audit, Transfer and Refund] Rules 2017, the Company at the Registered office of the Company during normal
this regard, the Company has individually informed the
had transferred Rs. 1,54,02,937/- of 1st Interim Dividend
shareholders concerned and also published notice in
2016-17 to IEPF Authority on 10th April’ 2024 and the 2nd Name of Director Shri Debasish Nanda Smt Nirupama Kotru
the newspapers as per the IEPF Rules. The details of such
Interim Dividend amount for the year 2016-17 amounting
shareholders and shares due for transfer are uploaded on DIN 09015566 09204338
to Rs. 19,00,874/- was transferred to IEPF Account on 30th
the “Investors Section” of the website of the Company viz. Date of Birth 13.05.1965 28.01.1969
April’24. The details are also available on CIL website. Nationality Indian Indian
www.coalindia.in
The Company had sent reminders to those members Date of appointment on the Board 11.07.2022 15.06.2021
to claim their unclaimed dividends before transfer of Due dates for transfer to IEPF account of unclaimed Qualification Post Graduate in Production Indian Revenue Service
such dividend(s) to IEPF as per IEPF Rules 2017. Details dividends declared by the company till date are as under: Engineering MA in Politics & International Relations
Graduate in Mechanical Engineering MA in Public Policy & Sustainable Development
BA in Economics (Hons.)
Particulars Declared on Due date of transfer List of Directorships held in other NA 1
Interim Dividend 2017-18 10.03.2018 09.04.2025 listed company
1st Interim Dividend 2018-19 20.12.2018 19.01.2026 Membership of other Committees NA Audit Committee, Risk Management
2nd Interim Dividend 2018-19 14.03.2019 13.04.2026 in other Listed Companies Committee, Corporate Social Responsibility
Interim Dividend 2019-20 12.03.2020 11.04.2027 Committee, Sustainability and ESG Committee
1st Interim Dividend 2020-21 11.11.2020 10.12.2027 Membership of other Committees Stakeholder’s Relationship Audit Committee, Empowered Sub-
2nd Interim Dividend 2020-21 05.03.2021 04.04.2028
in Coal India Ltd Committee, STC Committee Meeting. Committee, Corporate Social Responsibility
Final Dividend 2020-21 15.09.2021 14.10.2028
1st Interim Dividend 2021-22 29.11.2021 28.12.2028 Committee.
2nd Interim Dividend 2021-22 14.02.2022 13.03.2029 Disclosure of relationship between Not Related Not Related
Final Dividend 2021-22 30.08.2022 29.09.2029 Directors inter-se
1st Interim Dividend 2022-23 07.11.2022 06.12.2029 Expertise Wide experience in marketing, Varied experience in different fields
2nd Interim Dividend 2022-23 31.01.2023 02.03.2030 business development and various of administration as well as taxation in
Final Dividend 2022-23 23.08.2023 18.09.2030 diverse positions for liaising with government services.
1st Interim Dividend 2023-24 10.11.2023 07.12.2030 various ministries.
2nd Interim Dividend 2023-24 12.02.2024 06.03.2031 Shareholding in Coal India Limited NIL NIL
498 499
Profile of Shri Debasish Nanda and Smt Nirupama Kotru is CIR/2021/687 dated 14th Dec.’2021, Circular no. SEBI/
given under “Brief profile of Directors” in Integrated Annual HO/MIRSD_POD-1/P/CIR/2023/37 dated 16th March’ Applicable
Report 2023-24. 2023, SEBI/HO/MIRSD/POD1/P/CIR/2023/193 dated Particulars Documents required (if any)
Rate
Notes
27th Dec’23 and SEBI/HO/MIRSD/POD-1/P/CIR/2024/81
18. The Securities and Exchange Board of India (SEBI) has Submitting Form 15G/ NIL Duly verified Form 15G (applicable to a resident individual) or 15H (applicable to an
dated 10th June’ 2024 has made mandatory furnishing of
mandated the submission of a Permanent Account Form 15H Individual who is aged 60 years and above and older) is to be furnished along with self-
PAN, KYC details and nomination by holders of physical
Number (PAN) by every participant in the securities attested copy of PAN card. (This form can be submitted only in case the shareholder’s
securities. Accordingly, CIL will be sending letters to the
market. Members holding shares in electronic form tax on estimated total income for FY 2024-25 is Nil).
physical shareholders informing them to update their KYC.
are, therefore, requested to submit their PAN to their Hence, physical shareholders are requested to visit CIL The Forms can be downloaded from the link https://www.incometaxindia.gov.in/pages/
Depository Participant with whom they are maintaining website (www.coalindia.in) and fill up the required forms downloads/most-used-forms.aspx
their Demat accounts. Members holding shares in under “Investor tab/Shareholders FORMS” and send it Submitting Order Rate Lower/NIL withholding tax certificate obtained from tax authority. Tax will be deducted
physical form can submit their PAN to the Company/ M/s to M/s Alankit Assignments Limited, 205-208 Anarkali under Section 197 of provided in at the rate specified in the said certificate, subject to furnishing of a self-attested copy
Alankit Assignments Limited. Complex Jhandewalan Extension, New Delhi – 110 055. the Act the Order of the same. The certificate should be valid for the FY 2024-25 and should cover the
dividend income.
19. The Explanatory Statement according to Section 102(1) of 21. Tax Deductible at Source /Withholding tax: Pursuant to the An Insurance Company NIL Self-declaration that they have full beneficial interest with respect to the shares owned
the Companies Act, 2013 in respect of Special businesses requirement of Income Tax Act, 1961, (‘the Act’) the Company as specified under Sec by them along with Self attested copy of PAN card and copy of registration certification
is annexed herewith. will be required to deduct taxes at the prescribed rates on 194 of the Act issued by the IRDAI.
the dividend paid to its shareholders. The deductible tax Mutual Fund specified NIL Self-declaration that they are specified as in Section 10 (23D) of the Act along with self-
20. Members who hold shares in physical form in multiple
rate would vary depending on the residential status of the under clause (23D) of attested copy of PAN card and registration certificate.
folios in identical names or joint holding in the same order
shareholder and documents submitted by shareholder to Section 10 of the Act
of names are requested to send the share certificates to
the Company/ for Dividend payment. Any person for or on NIL Self-declaration that they are specified as in Section 10 (44) of the Act along with copy of
M/s Alankit Assignments Limited, for consolidation into
behalf of New Pension Certificate of registration and self-attested copy of PAN.
a single folio. SEBI has stipulated that securities of listed
System – Trust under
companies can be transferred only in dematerialized
clause (44) of Section
form from 1st April’2019. In view of the above and to
10 of the Act
avail of various benefits of dematerialization, members Alternative Investment NIL Self-declaration that they are specified in Section 10 (23FBA) of the Act and established
are advised to dematerialize the shares held by them in Fund (AIF) established as Category I or Category II AIF under the SEBI regulations along with self-attested copy
physical form. SEBI vide its circular no. SEBI/HO/MIRSD_ in India of PAN card and registration certificate issued by SEBI.
RTAMB/P/CIR/2021/655 dated 3rd November’2021 read
with circular no. SEBI/HO/MIRSD/MIRSD_RTAMB/P/ Applicable
Non-Resident
Particulars Shareholder: Documents required (if any)
Rate
Resident Shareholder: Foreign Institutional 20% (plus Provide self-declaration whether the investment in shares has been made under the
Investors (FIIs) / applicable general FDI route or under the FPI route.
Applicable
Particulars Documents required (if any) Foreign Portfolio surcharge
Rate
Investors (FPIs) and cess)
With PAN 10.00.% No deduction of taxes in the following cases: Other Non-resident 20% (plus
• If dividend income to a resident Individual shareholder during FY 2024-25 does shareholders applicable
not exceed INR 5,000/- surcharge
and cess)
• If shareholder is exempted from TDS provisions through any circular or notification
Lower rate prescribed Tax Treaty In order to apply the Tax Treaty rate, all the following documents would be required:
and provides an attested copy of the PAN along with the documentary evidence in
under the tax treaty Rate** 1. Self-Attested copy of Indian Tax Identification number (PAN).
relation to the same.
which applies to
2. Self-Attested copy of the Tax Residency Certificate (TRC) valid as on the record date
the non-resident
Without PAN/ Invalid 20% N.A. obtained from the tax authorities of the country of which the shareholder is a resident.
shareholder (other
PAN (Section 206AA of than investments made 3. Electronically Filed Form-10F on the Indian Income Tax Portal. The declaration format
the Act) / Shareholders under FPI route) can be downloaded from the following link https://www.incometaxindia.gov.in/
identified as ‘specified forms/income-tax%20rules/103120000000007197.pdf
persons’ for the 4. Self-declaration from Non-resident, primarily covering the following:
purpose of higher
• Non-resident is eligible to claim the benefit of respective tax treaty;
deduction of tax as per
‘Compliance Check • Non-resident receiving the dividend income is the beneficial owner of such
Facility’ made available income;
by the Income-tax • Dividend income is not attributable/effectively connected to any Permanent
department (Section Establishment (PE) or Fixed Base in India;
206AB of the Act) • Non-resident complies with any other condition prescribed in the relevant Tax
Treaty and provisions under the Multilateral Instrument (‘MLI’);
• Non-resident does not have a place of effective management in India.
**Application of the beneficial rate of tax treaty for TDS is at the discretion of the
company and shall depend upon completeness of the documentation and review of the
same by the Company.
500 501
(v) We also request you to submit / update your bank bear your name, please attach a copy of the bank pass-
Applicable account details with your Depository Participant, in case book statement, duly self-attested. We also request you
Particulars Documents required (if any) you are holding shares in the electronic form. In case to register/update your email IDs and mobile numbers
Rate
Notes
your shareholding is in the physical form, you will have to with Depositories / RTA at Alankit Assignments Ltd. 4E/2,
Non-Resident 30% (plus -
submit a scanned copy of a covering letter, duly signed by Jhandewalan Extension New Delhi-110055.
Shareholders who applicable
the first shareholder, along with a cancelled cheque leaf
are tax residents of surcharge For further clarification or query on tax related issues,
with your name and bank account details and a copy of
Notified Jurisdictional and cess) please send your mail to [email protected]. Please
your PAN card, duly self-attested, to Alankit Assignments
Area as defined under intimate your Demat Account no., PAN and contact no. in
Ltd at 4E/2, Jhandewalan Extension New Delhi-110055.
Section 94A(1) of the the mail so that we can get back to you in case of any issues.
This will facilitate receipt of dividend directly into your
Act
Sovereign Wealth NIL Self-declaration substantiating the fulfillment of conditions prescribed under section bank account. In case the cancelled cheque leaf does not
Fund, Pension Funds, 10(23FE) of the Act along with copy of certificate of registration/ incorporation.
Other bodies notified 22. Members are requested to address all correspondences, other than tax on dividend matters to our Registrar and Share
under section 10(23FE) Transfer Agents on any one of the below mentioned addresses:
of the Act
Submitting Order Rate Lower/NIL withholding tax certificate obtained from tax authority. Tax will be deducted Registered Office Kolkata Address
u/s 197 (i.e. lower or provided in at the rate specified in the said certificate, subject to furnishing a self-attested copy M/s. Alankit Assignment Limited M/s Alankit Assignments Limited
NIL withholding tax the Order of the same. The certificate should be valid for the FY 2024-25 and should cover the
205-208 Anarkali Complex Jhandewalan Extension, 3B Ground Floor, Lal Bazar Street
certificate) dividend income.
New Delhi – 110 055 Kolkata 700 001
Without PAN/ Invalid 20% (plus NA
Phone No: 011-4254-1234/2354-1234 E-mail id: [email protected]
PAN (Section 206AA of applicable
Fax No: 011-4154-3474 Ph. no.: 033-4401-4100/4200
the Act) surcharge
E-mail id: [email protected] Toll-free-1860-121-2155
and cess)
Shareholders identified 40% (plus NA Website: www.alankit.com
as ‘specified persons’ applicable Toll free no-1860-121-2155
for the purpose of surcharge Website-www.alankit.com
Note : If the provisions of section 206AA is applicable to a specified person in addition
higher deduction of and cess)
to the provision of this section, the tax shall be deducted at higher of the two rates
tax as per ‘Compliance
provided in this section and in section 206AA. For tax on dividend related correspondences, members Nomination and Remuneration Committee and
Check Facility’ made
are requested to communicate on the following address Stakeholders Relationship Committee, Auditors etc. who
available by the
and email ids: - are allowed to attend the AGM without restriction on
Income-tax department
account of first come first served basis.
(Section 206AB of The Company Secretary,
the Act) Coal Bhawan, Core-2, 3rd floor, Premises No.04, MAR, 3. Pursuant to the provisions of Section 108 of the
Plot No.AF-III, Action Area IA, Companies Act, 2013 read with Rule 20 of the Companies
** The Company is not obligated to apply the beneficial Tax Treaty rates at the time of tax deduction/withholding on dividend amounts. Application of
beneficial Tax Treaty Rate shall depend upon the completeness of the documents submitted by the Non- Resident shareholder and review to the satisfaction
New Town, Rajarhat, Kolkata-700156 (Management and Administration) Rules, 2014 (as
of the Company. Further, the company shall not consider impact of Most Favored Nation Clause, if any, present in the Tax Treaty of the shareholder, while amended) and Regulation 44 of SEBI (Listing Obligations
determining the withholding amount. Email- [email protected] & Disclosure Requirements) Regulations 2015 (as
amended), and the Circulars issued by the Ministry of
23. STEPS FOR REMOTE E-VOTING: - Corporate Affairs dated April 08, 2020, April 13, 2020 and
Notes: May 05, 2020 the Company is providing facility of remote
1. Pursuant to the Circular No. 14/2020 dated April 08, 2020,
e-Voting to its Members in respect of the business to be
(i) Update/Verify the PAN, legal entity and the residential (iii) The documents as applicable, are required to be sent issued by the Ministry of Corporate Affairs, the facility to
transacted at the AGM. For this purpose, the Company
status as per Act, if not already done, with the to “ The Company Secretary, Coal Bhawan, Core-2, 3rd appoint proxy to attend and cast vote for the members is
has entered into an agreement with National Securities
depositories (in case equity shares are held in DEMAT floor, Premises No.04, MAR, Plot No.AF-III, Action Area not available for this AGM. However, the Body Corporates
Depository Limited (NSDL) for facilitating voting through
mode) and with the Company’s Registrar and Transfer IA, New Town, Rajarhat, Kolkata-700156” along with a are entitled to appoint authorised representatives to
electronic means, as the authorized agency. The facility
Agents (RTA) – Alankit Assignments Ltd., Alankit House signed request letter 22nd Aug’24 in order to enable the attend the AGM through VC/OAVM and participate there
of casting votes by a member using remote e-Voting
4E/2, Jhandewalan Extension New Delhi-110055 (in case Company to determine the appropriate TDS rates. It is at and cast their votes through e-voting.
system as well as voting on the date of the AGM will be
equity shares are held in physical mode). requested to send the documents on or before Thursday,
2. The Members can join the AGM in the VC/OAVM provided by NSDL.
22nd Aug’2024 (cut-off date) so as to enable the Company
(ii) In case tax on dividend is deducted at a higher rate in mode 15 minutes before and after the scheduled time
to collate the documents to determine the appropriate 4. In line with the Ministry of Corporate Affairs (MCA)
the absence of receipt of the aforementioned details / of the commencement of the Meeting by following
TDS rates. The certified copy of documents along with a Circular No. 17/2020 dated April 13, 2020, the Notice
documents, you would still have the option of claiming the procedure mentioned in the Notice. The facility of
request letter should be sent from your registered email calling the AGM has been uploaded on the website of
refund of the excess tax paid at the time of filing your participation at the AGM through VC/OAVM will be
to the company email id at [email protected]. the Company at www.coalindia.in. The Notice can also
income tax return. No claim shall lie against the Company made available for 1000 members on first come first
be accessed from the websites of the Stock Exchanges
for such taxes deducted. (iv) No communication relating to tax determination/ served basis. This will not include large Shareholders
i.e. BSE Limited and National Stock Exchange of India
deduction received after the cut-off date or in any (Shareholders holding 2% or more shares), Promoters,
Limited at www.bseindia.com and www.nseindia.com
To verify the tax deduction, the shareholders can email ids other than [email protected] shall be Institutional Investors, Directors, Key Managerial
also check their Form 26AS/ Annual Information considered for purpose of calculation of TDS for payment Personnel, the Chairpersons of the Audit Committee,
Statement (AIS) from their e-filing account at https:// of the Dividend.
incometaxindiaefiling.gov.in.
502 503
respectively and the AGM Notice is also available on the website of NSDL (agency for providing the Remote e-Voting facility)
i.e. www.evoting.nsdl.com. Type of shareholders Login Method
Individual Shareholders 1. Users who have opted for CDSL Easi / Easiest facility, can login through their existing
Notes
THE INSTRUCTIONS FOR MEMBERS FOR REMOTE E-VOTING AND JOINING GENERAL MEETING ARE AS holding securities in demat user id and password. Option will be made available to reach e-Voting page without any
UNDER:- mode with CDSL further authentication. The users to login Easi /Easiest are requested to visit CDSL website
The remote e-voting period begins on 17th August’ 2024 at 09:00 A.M. and ends on 20th August’ 2024 at 05:00 P.M. www.cdslindia.com and click on login icon & New System Myeasi Tab and then use your
The remote e-voting module shall be disabled by NSDL for voting thereafter. The Members, whose names appear in the existing my easi username & password.
Register of Members / Beneficial Owners as on the record date (cut-off date) i.e. 14th August’ 2024, may cast their vote 2. After successful login the Easi / Easiest user will be able to see the e-Voting option for
electronically. The voting right of shareholders shall be in proportion to their share in the paid-up equity share capital of eligible companies where the evoting is in progress as per the information provided by
the Company as on the cut-off date, being 14th August’ 2024. company. On clicking the evoting option, the user will be able to see e-Voting page of
the e-Voting service provider for casting your vote during the remote e-Voting period
How do I vote electronically using NSDL e-Voting system? or joining virtual meeting & voting during the meeting. Additionally, there are also links
provided to access the system of all e-Voting Service Providers, so that the user can visit
The way to vote electronically on NSDL e-Voting system consists of “Two Steps” which are mentioned below:
the e-Voting service providers’ website directly.
Step 1: Access to NSDL e-Voting system 3. If the user is not registered for Easi/Easiest, option to register is available at CDSL website
www.cdslindia.com and click on login & New System Myeasi Tab and then click on
A) Login method for e-Voting and joining virtual meeting for Individual shareholders holding securities in demat mode
registration option.
In terms of SEBI circular dated December 9, 2020 on e-Voting facility provided by Listed Companies, Individual shareholders 4. Alternatively, the user can directly access e-Voting page by providing Demat Account
holding securities in demat mode are allowed to vote through their demat account maintained with Depositories and Number and PAN No. from a e-Voting link available on www.cdslindia.com home page.
Depository Participants. Shareholders are advised to update their mobile number and email Id in their demat accounts in The system will authenticate the user by sending OTP on registered Mobile & Email as
order to access e-Voting facility. recorded in the Demat Account. After successful authentication, user will be able to see
the e-Voting option where the evoting is in progress and also able to directly access the
Login method for Individual shareholders holding securities in demat mode is given below:
system of all e-Voting Service Providers.
Type of shareholders Login Method Individual Shareholders You can also login using the login credentials of your demat account through your Depository
Individual Shareholders 1. Existing IDeAS user can visit the e-Services website of NSDL Viz. https://eservices.nsdl.com (holding securities in demat Participant registered with NSDL/CDSL for e-Voting facility. upon logging in, you will be
holding securities in demat either on a Personal Computer or on a mobile. On the e-Services home page click on the mode) login through their able to see e-Voting option. Click on e-Voting option, you will be redirected to NSDL/CDSL
mode with NSDL. “Beneficial Owner” icon under “Login” which is available under ‘IDeAS’ section, this will depository participants Depository site after successful authentication, wherein you can see e-Voting feature. Click on
prompt you to enter your existing User ID and Password. After successful authentication, company name or e-Voting service provider i.e. NSDL and you will be redirected to e-Voting
you will be able to see e-Voting services under Value added services. Click on “Access website of NSDL for casting your vote during the remote e-Voting period or joining virtual
to e-Voting” under e-Voting services and you will be able to see e-Voting page. Click meeting & voting during the meeting.
on company name or e-Voting service provider i.e. NSDL and you will be re-directed
Important note: Members who are unable to retrieve User ID/ Password are advised to use Forget User ID and Forget
to e-Voting website of NSDL for casting your vote during the remote e-Voting period or
Password option available at abovementioned website.
joining virtual meeting & voting during the meeting.
2. If you are not registered for IDeAS e-Services, option to register is available at https:// Helpdesk for Individual Shareholders holding securities in demat mode for any technical issues related to login
eservices.nsdl.com. Select “Register Online for IDeAS Portal” or click at https:// through Depository i.e. NSDL and CDSL.
eservices.nsdl.com/SecureWeb/IdeasDirectReg.jsp
Login type Helpdesk details
3. Visit the e-Voting website of NSDL. Open web browser by typing the following URL:
https://www.evoting.nsdl.com/ either on a Personal Computer or on a mobile. Once the Individual Shareholders holding securities in Members facing any technical issue in login can contact NSDL helpdesk
home page of e-Voting system is launched, click on the icon “Login” which is available demat mode with NSDL by sending a request at [email protected] or call at 022 - 4886 7000
under ‘Shareholder/Member’ section. A new screen will open. You will have to enter your Individual Shareholders holding securities in Members facing any technical issue in login can contact CDSL helpdesk
User ID (i.e. your sixteen digit demat account number held with NSDL), Password/OTP and demat mode with CDSL by sending a request at [email protected] or contact at
a Verification Code as shown on the screen. After successful authentication, you will be toll free no. 1800 22 55 33
redirected to NSDL Depository site wherein you can see e-Voting page. Click on company
B) Login Method for e-Voting and joining virtual meeting for shareholders other than Individual shareholders holding securities
name or e-Voting service provider i.e. NSDL and you will be redirected to e-Voting
in demat mode and shareholders holding securities in physical mode.
website of NSDL for casting your vote during the remote e-Voting period or joining virtual
meeting & voting during the meeting. How to Log-in to NSDL e-Voting website?
4. Shareholders/Members can also download NSDL Mobile App “NSDL Speede” facility by
1. Visit the e-Voting website of NSDL. Open web browser by typing the following URL: https://www.evoting.nsdl.com/
scanning the QR code mentioned below for seamless voting experience.
either on a Personal Computer or on a mobile.
2. Once the home page of e-Voting system is launched, click on the icon “Login” which is available under ‘Shareholder/
Member’ section.
3. A new screen will open. You will have to enter your User ID, your Password/OTP and a Verification Code as
shown on the screen.
Alternatively, if you are registered for NSDL eservices i.e. IDEAS, you can log-in at https://eservices.nsdl.com/ with your
existing IDEAS login. Once you log-in to NSDL eservices after using your log-in credentials, click on e-Voting and you
can proceed to Step 2 i.e. Cast your vote electronically.
504 505
4. Your User ID details are given below : 7. Once you confirm your vote on the resolution, you will not 4. In terms of SEBI circular dated December 9, 2020 on
be allowed to modify your vote. e-Voting facility provided by Listed Companies, Individual
Manner of holding shares i.e. shareholders holding securities in demat mode are
Your User ID is:
General Guidelines for shareholders
Notes
Demat (NSDL or CDSL) or Physical allowed to vote through their demat account maintained
a) For Members who hold shares 8 Character DP ID followed by 8 Digit Client ID 1. Institutional shareholders (i.e. other than individuals, with Depositories and Depository Participants.
in demat account with NSDL. HUF, NRI etc.) are required to send scanned copy (PDF/ Shareholders are required to update their mobile number
For example if your DP ID is IN300*** and Client ID is 12****** then your user ID
JPG Format) of the relevant Board Resolution/ Authority and email ID correctly in their demat account in order to
is IN300***12******.
letter etc. with attested specimen signature of the duly access e-Voting facility.
b) For Members who hold shares 16 Digit Beneficiary ID
in demat account with CDSL. authorized signatory(ies) who are authorized to vote, to THE INSTRUCTIONS FOR MEMBERS FOR e-VOTING ON THE
For example if your Beneficiary ID is 12************** then your user ID is
the Scrutinizer by e-mail to [email protected] DAY OF THE AGM ARE AS UNDER:-
12**************
with a copy marked to [email protected]. Institutional
c) For Members holding shares in EVEN Number followed by Folio Number registered with the company 1. The procedure for e-Voting on the day of the AGM is same
shareholders (i.e. other than individuals, HUF, NRI
Physical Form. For example if folio number is 001*** and EVEN is 101456 then user ID is as the instructions mentioned above for remote e-voting.
etc.) can also upload their Board Resolution / Power of
101456001***
Attorney / Authority Letter etc. by clicking on "Upload 2. Only those Members/ shareholders, who will be present
Board Resolution / Authority Letter" displayed under in the AGM through VC/OAVM facility and have not casted
5. Password details for shareholders other than c) If you are still unable to get the password by "e-Voting" tab in their login. their vote on the Resolutions through remote e-Voting
Individual shareholders are given below: aforesaid two options, you can send a request and are otherwise not barred from doing so, shall be
at [email protected] mentioning your demat 2. It is strongly recommended not to share your password eligible to vote through e-Voting system in the AGM.
a) If you are already registered for e-Voting, then account number/folio number, your PAN, your with any other person and take utmost care to keep your
you can user your existing password to login name and your registered address etc. password confidential. Login to the e-voting website will 3. Members who have voted through Remote e-Voting will
and cast your vote. be disabled upon five unsuccessful attempts to key in the be eligible to attend the AGM. However, they will not be
d) Members can also use the OTP (One Time correct password. In such an event, you will need to go eligible to vote at the AGM.
b) If you are using NSDL e-Voting system for the Password) based login for casting the votes on through the “Forgot User Details/Password?” or “Physical
first time, you will need to retrieve the ‘initial 4. The details of the person who may be contacted for any
the e-Voting system of NSDL. User Reset Password?” option available on www.evoting.
password’ which was communicated to you. grievances connected with the facility for e-Voting on the
nsdl.com to reset the password.
Once you retrieve your ‘initial password’, you 7. After entering your password, tick on Agree to “Terms day of the AGM shall be the same person mentioned for
need to enter the ‘initial password’ and the and Conditions” by selecting on the check box. 3. In case of any queries, you may refer the Frequently Remote e-voting.
system will force you to change your password. Asked Questions (FAQs) for Shareholders and e-voting
8. Now, you will have to click on “Login” button. INSTRUCTIONS FOR MEMBERS FOR ATTENDING THE AGM
user manual for Shareholders available at the download
THROUGH VC/OAVM ARE AS UNDER:
c) How to retrieve your ‘initial password’? section of www.evoting.nsdl.com or call on.: 022 - 4886
9. After you click on the “Login” button, Home page of 1. Member will be provided with a facility to attend the
7000 or send a request to Ms. Pallavi Mhatre, Senior
(i) If your email ID is registered in your e-Voting will open. AGM through VC/OAVM through the NSDL e-Voting
Manager at [email protected]
demat account or with the company, your system. Members may access by following the steps
‘initial password’ is communicated to you Step 2: Cast your vote electronically and join General
Process for those shareholders whose email ids are not mentioned above for Access to NSDL e-Voting system.
on your email ID. Trace the email sent to Meeting on NSDL e-Voting system. After successful login, you can see a link of “VC/OAVM”
registered with the depositories for procuring user id and
you from NSDL from your mailbox. Open password and registration of e-mail ids for e-voting for the placed under “Join meeting” menu against the company
How to cast your vote electronically and join General
the email and open the attachment i.e. a resolutions set out in this notice: name. You are requested to click on VC/OAVM link placed
Meeting on NSDL e-Voting system?
.pdf file. Open the .pdf file. The password under Join Meeting menu. The link for VC/OAVM will be
1. In case shares are held in physical mode please provide available in Shareholder/Member login where the EVEN of
to open the .pdf file is your 8 digit client 1. After successful login at Step 1, you will be able to see
Folio No., Name of shareholder, scanned copy of the share Company will be displayed. Please note that the members
ID for NSDL account, last 8 digits of client all the companies “EVEN” in which you are holding
certificate (front and back), PAN (self attested scanned who do not have the User ID and Password for e-Voting
ID for CDSL account or folio number for shares and whose voting cycle and General Meeting is
copy of PAN card), AADHAR (self attested scanned or have forgotten the User ID and Password may retrieve
shares held in physical form. The .pdf in active status.
copy of Aadhar Card) by email to complianceofficer. the same by following the remote e-Voting instructions
file contains your ‘User ID’ and your
2. Select “EVEN” of company for which you wish to cast [email protected]. mentioned in the notice to avoid last-minute rush.
‘initial password’.
your vote during the remote e-Voting period and casting
2. In case shares are held in demat mode, please provide 2. Members are encouraged to join the Meeting through
(ii) If your email ID is not registered, please your vote during the General Meeting. For joining virtual
DPID-CLID (16 digit DPID + CLID or 16 digit beneficiary Laptops for a better experience.
follow steps mentioned below in process meeting, you need to click on “VC/OAVM” link placed
ID), Name, client master or copy of Consolidated Account
for those shareholders whose email ids under “Join Meeting”. 3. Further Members will be required to allow Camera
statement, PAN (self attested scanned copy of PAN card),
are not registered. and use the Internet with a good speed to avoid any
3. Now you are ready for e-Voting as the Voting page opens. AADHAR (self attested scanned copy of Aadhar Card)
disturbance during the meeting.
6. If you are unable to retrieve or have not received the to ([email protected]). If you are an
“ Initial password” or have forgotten your password: 4. Cast your vote by selecting appropriate options i.e. assent Individual shareholders holding securities in demat mode, 4. Please note that Participants Connecting from Mobile
or dissent, verify/modify the number of shares for which you are requested to refer to the login method explained Devices or Tablets or through Laptop connecting via
a) Click on the “Forgot User Details/ you wish to cast your vote and click on “Submit” and also at step 1 (A) i.e. Login method for e-Voting and joining Mobile Hotspot may experience Audio/Video loss due
Password?”(If you are holding shares in your “Confirm” when prompted. virtual meeting for Individual shareholders holding to Fluctuation in their respective network. It is therefore
demat account with NSDL or CDSL) option securities in demat mode. recommended to use Stable Wi-Fi or LAN Connection to
available on www.evoting.nsdl.com. 5. Upon confirmation, the message “Vote cast successfully”
mitigate any kind of aforesaid glitches.
will be displayed. 3. Alternatively shareholder/members may send a request
b) Physical User Reset Password?” (If you are to [email protected] for procuring user id and password 5. Shareholders who would like to express their views/ask
holding shares in physical mode) option is 6. You can also take the printout of the votes cast by you by for e-voting by providing above mentioned documents. questions during the meeting may register themselves as
available on www.evoting.nsdl.com. clicking on the print option on the confirmation page. a speaker as well as may send their queries in advance
by mentioning their name, demat account number/folio
506 507
number, email id, mobile number at Complianceofficer. are requested to get connected to a device with video/ STATEMENT PURSUANT TO SECTION 102(1) OF THE COMPANIES ACT, 2013:
[email protected] latest by 17.00 Hrs (IST) on camera along with good internet speed.
9th August’ 2024
8. The Company reserves the right to restrict the number The following Statement sets out all material facts relating to & Qualification of Directors) Rules, 2014, to the effect that he
Notes
6. Those shareholders who have registered themselves as of questions and number of speakers, as appropriate, for Special Business mentioned in the accompanying Notice: is not disqualified under sub section (2) of Section 164 of the
a speaker will only be allowed to express their views/ask smooth conduct of the AGM. Companies Act, 2013 and that he is not debarred by SEBI or
Item No. 5: any other authority from being appointed or continuing as a
questions during the meeting.
9. Members who need assistance before or during the AGM, Board approved the appointment and remuneration of the Director of a company. His appointment is recommended by
7. When a pre-registered speaker is invited to speak at can contact Ms. Pallavi Mhatre, Senior Manager, NSDL at Cost Auditor to conduct the audit of the cost records of CIL Nomination and Remuneration Committee through Circular
the meeting but he / she does not respond, the next [email protected] or call on.: 022 - 4886 7000. (Standalone) for the FY 2023-24 and FY 2024-25 at its 458th Resolution no. 2 of 2023-24 U/S 175 of the Companies Act’
speaker will be invited to speak. Accordingly, all speakers and 465th meeting held on 25th Sept’23 and 10th May’24 2023 dated 8th Feb’24. The approval of members is further
respectively as per the following details:- sought for the appointment of Shri Mukesh Agrawal [DIN:
Process for registration of email id for obtaining Annual Report and user id/password for e-voting and updation of bank:-
10199741], Director(Finance) of the Company w.e.f. 8th Feb’24
Name of the Cost Auditor: - M/s. R.M Bansal & Co. or till date of his superannuation or until further orders in terms
Physical Holding Send a request to the Registrar and Transfer Agents of the Company, M/s Alankit Assignments Limited at
of Ministry of Coal letter no 21/17/2020-Establishment (BA)
[email protected]/ [email protected]/[email protected] providing Folio No., Name of Audit Fees-
dated 5th Feb'24. He is liable to retire by rotation.
shareholder, scanned copy of the share certificate (front and back), PAN (self-attested scanned copy of PAN
card), AADHAR (self-attested scanned copy of Aadhar Card) for registering email address. (a) Cost Audit for the FY 2023-24 and FY 2024-25:
Shri Mukesh Agrawal has assumed the charge of
Rs.4,40,000 /- for each FY
Following additional details need to be provided in case of updating Bank Account Details: Director(Finance) on the Board of Coal India Limited (CIL) w.e.f.
a) Name and Branch of the Bank in which you wish to receive the dividend, (b) Travelling and Out-of-pocket expenses will be reimbursed 8th Feb’24. He is a Science Graduate from University of Allahabad
at actuals restricted to 50% of total fees. and a Member of the Institute of Cost Accountants of India. He
b) the Bank Account type,
served as Executive Director in NLC India Limited, a Navratna
c) Bank Account Number allotted by their banks after implementation of Core Banking Solutions (c) Applicable taxes shall be paid extra. Company, prior to joining Coal India Limited as Director
d) 9 digit MICR Code Number, and (Finance). With an impressive track record spanning over three
In accordance with the provisions of Section 148(3) of the Act
e) 11 digit IFSC Code decades both in private and public sector such as ITI Limited,
read with Rule 14 of Companies (Audit and Auditors) Rules,
IRCON International Ltd, NLC India Limited etc, this seasoned
f) a scanned copy of the cancelled Cheque bearing the name of the first shareholder. 2014, remuneration as approved by the Board payable to
professional boasts extensive post qualification experience
Demat Holding Please contact your Depository Participant (DP) and register your email address and bank account details in M/s. R.M Bansal & Co., Cost Auditor has to be ratified by the
in the dynamic landscape of the infrastructure sector. His
your demat account, as per the process advised by your DP. shareholders of the Company. Accordingly, ratification of the
expertise encompasses a diverse range of industries, including
shareholders is sought by passing an Ordinary Resolution as
rubber, spinning, telecommunication, construction, power,
Alternatively member may send an e-mail request to evoting@ d) The scrutinizer shall, immediately after the conclusion of set out at Item No.5 of the Notice, of remuneration payable
lignite, and coal. Within the Finance domain, he has exhibited
nsdl.co.in for obtaining User ID and Password by proving the the voting through electronic voting at General Meeting, to M/s. R.M Bansal & Co., Cost Auditor for the FY 2023-24
proficiency across multiple dimensions, such as Accounts,
details mentioned in Point (1) or (2) as the case may be. unblock and count the votes cast during the meeting and FY 2024-25 .
Treasury, Taxation, Costing, Budgeting, Inventory Management,
vide electronic voting, and the votes cast through remote
General Instruction:- No director, key managerial personnel or their relatives, Debtors & Fund Management, Digitization, Policy Formulation,
e-voting and make, not later than two working days from
is interested or concerned financially or otherwise in the System Improvement, IFC, etc. Notably, he has held the
conclusion of the meeting, a consolidated Scrutinizer's
a) In case of any query, members are requested to contact: resolution. The Board recommends the resolution set forth in prestigious position of Chief Financial Officer (CFO) at NUPPL,
Report of the total votes cast in favor or against, to
Item no 5 for the approval of the members. a prominent subsidiary of NLC India Limited. He has made
Name: Ms. Pallavi Mhatre, Chairman and in his absence to any Director of CIL.
remarkable contribution in the areas of lignite, power pricing
Designation: - Senior Manager, NSDL, Item No. 6: and Regulatory affairs. His wealth of knowledge and leadership
e) The results of voting along with details of the number of
E-mail id [email protected] in financial matters has significantly contributed to the success
votes cast for and against the Resolution, invalid votes will “Pursuant to Article- 39(c) of Articles of Association of the
Address: Trade World, “A” Wing, 4th Floor, Kamala Mills of organizations in the ever-evolving infrastructure sector.
be declared within two working days from the conclusion company, Section -161(1) of the Companies Act, 2013
Compound, Lower Parel, Mumbai 400 013
of the AGM. The results declared along with Scrutinizer’s and in terms of Ministry of Coal letter No.21/17/2020-
Contact details: 022 – 48867000 No Director, Key managerial personnel or their relatives,
Report shall be placed on the company’s website www. ESTABLISHMENT (BA) dated 5th Feb’2024 and subsequent except Shri Mukesh Agrawal to whom the resolution relates,
b) CS Saurabh Basu of M/s S Basu & Associates, Practicing coalindia.in and on the website of NSDL - www.evoting. Order No. CIL/C5A(IV)/2024/Mukesh Agrawal/DF-CIL/B-151 is interested or concerned financially or otherwise in the
Company Secretary, Kolkata email-id pcs.saurabhbasu@ nsdl.com. Further, the results shall be displayed on the dated 5thFeb’2024 from CIL, the Board of Directors at its 462nd resolution. The Board recommends the resolution set forth in
gmail.com has been appointed as Scrutinizer to scrutinize Notice Board of the Company at its Registered Office. It Meeting held on 12th Feb’24 had inter-alia appointed Shri Item no 6 for the approval of the members.
the remote e-voting process and e-voting at the AGM in a shall also be communicated to BSE & NSE. Mukesh Agrawal [DIN: 10199741], Director(Finance) as an
fair and transparent manner. Additional Director on the Board of Coal India Limited w.e.f By order of the Board of Directors
8thFeb’ 2024 and until further orders. He will hold office upto For Coal India Limited
c) The voting rights of shareholders shall be in proportion the date of next AGM or the last date on which AGM should
to their shares of the paid up equity share capital of the Sd/-
have been held whichever is earlier.”
Company as on 14th August’ 2024. (B.P DUBEY)
The Company has received a notice in writing under the Company Secretary &
provisions of Section 160 of the Companies Act, 2013 as Date: 28th June 2024 Compliance officer
amended, from a member proposing the candidature of Shri Registered Office:
Mukesh Agrawal, as a Director, to be appointed as such under CIN: L23109WB1973GOI028844
the provisions of Section 152 of the Companies Act, 2013. The Coal Bhawan, Premises No-04 MAR,
Company has received from him (i) consent in writing to act Plot No-AF-III, Action Area-1A,
as director in Form DIR 2 pursuant to Rule 8 of Companies New town, Rajarhat, Kolkata-700156
(Appointment & Qualification of Directors) Rules 2014, (ii) [email protected]
intimation in Form DIR 8 in terms of Companies (Appointment Website: www.coalindia.in
508 509
MAJOR ABBREVIATIONS FORMAT FOR FURNISHING THE BANK DETAILS, PAN, EMAIL ID, ETC.
1. ECL - Eastern Coalfields Ltd
Notes
2. BCCL - Bharat Coking Coal Ltd M/s. Alankit Assignments Limited.
3. CCL - Central Coalfields Ltd Unit: COAL INDIA
4. NCL - Northern Coalfields Ltd 205-208 Anarkali Complex Jhandewalan Extension,
5. WCL - Western Coalfields Ltd New Delhi – 110 055
6. SECL - South Eastern Coalfields Ltd Phone No: 011-4254-1234/2354-1234
7. MCL - Mahanadi Coalfields Ltd Fax No: 011-4154-3474
8. CIAL - Coal India Africana Limitada E-mail id: [email protected]
9. HURL - Hindustan Urvarak & Rasayan Ltd Website: www.alankit.com
10. TFL - Talcher Fertilizers Limited Toll free no-1860-121-2155
11. ICVL - International Coal Ventures Pvt. Limited
Dear Sir,
12. CERL - Chhattisgarh East Rail Ltd
13. CEWRL - Chhattisgarh East West Rail Ltd I/We, give my/our consent to update the following details in your records to effect payments of dividend or sending other
14. MBPL - Mahanadi Basin Power Limited communications by electronic means in compliance with the circular(s) issued by SEBI for equity shares of Coal India Limited.
15. MCRL - Mahanadi Coal Railway Limited
16. CBM - Coal Bed Methane FOLIO NO.: …………………………………………………………………………………………………………………………………………..
17. CIMFR - Central Institute of Mining and Fuel Research NAME OF THE FIRST / SOLE HOLDER :……………………………………………………………………………………………………..........
18. CMPFO - Coal Mines Provident Fund Organisation
BANK’S NAME : …………………………………………………………………………………………………………………………………….
19. CPP - Captive Power Plant
20. CPRMSE - Contributory Post-Retirement Medicare Scheme for Executives BRANCH’S NAME &
21. CSIR - Council of Scientific and Industrial Research ADDRESS: ……………………………………………………………………………………………………………………………………............
22. CWS - Coal Water Slurry
23. EAC - Expert Advisory Committee ……………………………………………………………………………………………………………………………………................................
24. EC - Environment Clearance ACCOUNT NO. :
25. EIA - Environmental Impact Assessment
……………………………………………………………………………………………………………………………………............
26. ERP - Enterprise Resource Planning
27. FC - Forest Clearance ACCOUNT TYPE (SB / CURRENT) :
28. FMC - First Mile Connectivity ……………………………………………………………………………………………………………………………………............
29. GCV - Gross Calorific Value
IFSC CODE : ………………………………………………………………………………………………………………………………………..
30. HEMM - Heavy Earth Moving Machines
31. ICFRE - Indian Council of Forestry Research MICR CODE : ………………………………………………………………………………………………………………………………………..
32. IICM - Indian Institute of Coal Management EMAIL ID : ………………………………………………………………………………………………………………………………………..
33. JBCCI - Joint Bipartite Committee for Coal Industry
PHONE NO. : ………………………………………………………………………………………………………………………………………..
34. MCP - Mine Closure Plans
35. MMDR Act - Mines and Minerals (Development and Regulation) Act, 1957 and 2015
36. MoEF&CC - Ministry of Environment, Forest and Climate Change
37. NCWA - National Coal Wage Agreement
38. NEERI - National Environment Engineering Research Institute PARTICULARS NAME OF SHAREHOLDER(S) PAN
39. NGRBC - National Guidelines on Responsible Business Conduct FIRST / SOLE SHAREHOLDER
40. OB - Overburden 1ST JOINT SHAREHOLDER
41. OC - Opencast 2ND JOINT SHAREHOLDER
42. OHS - Occupational Health and Safety
43. OHSAS - Occupational Health and Safety Assessment Series
44. PPA - Power Purchase Agreement
45. R&R - Rehabilitation and Resettlement ………………………………… ………………………………………. ………………………………………………..
46. RLS - Rapid Loading System
Signature of 1st Shareholder Signature of 1st Joint Shareholder Signature of 2nd Joint Shareholder
47. SHAKTI - Scheme for Harnessing and Allocating Koyala (Coal) Transparently in India
48. SPCB - State Pollution Control Board
49. UG - Underground
50. UGMM - Underground Mine Map Date: ______________________
Place: ______________________
Encl: Original cancelled cheque leaflet or attested copy of bank pass book showing name of account holder and self- attested
copy of PAN Card(s).
510 511
Notes Notes
Notes
Coal Bhawan, Premise No-04 MAR,
Plot No-AF-III, Action Area-1A,
Newtown, Rajarhat, Kolkata - 700156
www.coalindia.in
CIN: L23109WB1973GOI028844

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Meeting

111 Board of Directors NOTICE • The Companies Act, 2013 Operating

Earning Per Share EBITDA Revenue from operations (Consolidated)

Scope-1 2,64,24,706 Renewable Sources - 72,789.10

organisational Railway Limited

MJSJ Coal Limited

With 84 mining areas spread across eight states 100%

development. With a strong focus on safety, health,

sustainable growth through best practices from Non-coking

Reclamation projects Energy supply

Being a good neighbour

131 168 14 33,920 41.096 1,564.46 17,600.81

33,990 86.054 3,661.05 23,341.82

48,711 47.560 251.59 18,999.97

CIL Solar PV Limited

21,493 206.099 11,841.55 37,200.78

Northern Coalfields Limited

Coal India Africana Limitada

Odisha South Eastern Coalfields Limited

Western Coalfields Limited

Central Mine Planning

Central Mine Planning & Design Institute Limited

Subsidiary 2,757 Engaged in 503.23 2,041.36

Financial Governance Financial • Robust financial • Consistent profitability

Sound working Leveraging

93.78% Natural • Commitment to low- • Rehabilitation and

India’s growing energy demand Promotion of underground coal mining

Regulatory Policies and Auction Systems International collaborations

Virtual Reality (VR) training for safety and emergency rescue

Safety Training for workers and miners

Why do they matter ? How are we mitigating them ? Capital

25 Business continuity/long-term 10 Reducing environmental impacts during

20 Regulatory compliance/anti-corruption 18 Upholding rights of indigenous people

21 Business ethics and corporate governance 24 Disaster management

14 13 Occupational health & safety

Monitoring Issues: Best practice Hidden Value Creators: Company should

impactful over time relevance to Company’s business

Low Importance to external stakeholders High

Stakeholder engagement process

Distribution of sports mats to National Level players

• Influence decision-making processes • ESG initiatives Social and Relationship Capital

relationships with local communities

of India as an independent director from Department of Animal Husbandry,

Shri B. Rajesh Chander Managing Partner at Hittakkal Estate Tea

LITTLE MASTER EXPRESS GRATITUDE TO COAL INDIA

NCL review meeting chaired by

• Strive to maximize shareholder • Invest strategically in

Our robust financial strategies form the achieved

Bharat Coal Gasification and Chemicals

crore crore 82,710.91

Building strong relationships with our achieved

bodies, and partners. Through active

Nutritional Kits distribution in nearby areas by SECL under CSR

The ‘Digital Vidya’ project has been a game-changer, introducing smart

a hostel for women athletes at the Spent on healthcare, nutrition

One of our most impactful healthcare

Promoting environmental sustainability

Engagement with government and

Customers are encouraged to share