Coal India's Two Subsidiaries Eye Stock Market Debut

New Delhi: India's largest Coal Miner, 'Coal India Limited' is gearing up to list its two subsidiaries, Bharat Coking Coal Limited (BCCL) and Central Mine Planning & Design Institute Limited (CMPDI) in the coming financial year. The company has identified the banks and is in the process of listing BCCL, which will be followed by the listing of CMPDI, earlier said by the CIL CMD PM Prasad.

Both BCCL and CMPDI are profit-making subsidiaries of Coal India, with BCCL reporting a profit of Rs 502.88 crore and CMPDI reporting a profit of Rs 366.95 crore in the last financial year.

 

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Coal India has ambitious plans for the future, aiming to achieve a 780-million-tonne production target in FY24, subsequently scaling up to 850 MT in FY25, and ultimately reaching 1 billion tonne in FY26. 

The company is also planning to set up 3000 MW solar power capacity in the next 3 years, with 380 MW expected in the current fiscal year. Additionally, Talcher Fertilizers Limited, a joint venture between Coal India, Rashtriya Chemicals and Fertilisers Limited, and Gail (India) Limited, is expected to commence operations in FY25.

 

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The upcoming listing of BCCL and CMPDI is a significant development for Coal India, reflecting the company's efforts to streamline its operations and enhance transparency. 

The potential impact of listing BCCL and CMPDI, the subsidiaries of Coal India, on the Indian stock exchanges could be significant.

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