Latest news with #CIL
Business Upturn
an hour ago
- Business
- Business Upturn
Coal India's May 2025 production drops 8.5% YoY to 63.5 MT; April-May cumulative output down 7%
By Aditya Bhagchandani Published on June 2, 2025, 14:25 IST Coal India Limited (CIL) reported a year-on-year decline in coal production and offtake for May 2025 and the cumulative April-May 2025 period. According to the provisional data submitted by the company to stock exchanges, CIL produced 63.5 million tonnes (MT) of coal in May 2025, down from 69.4 MT in May 2024—a decline of 8.5%. For the April-May 2025 period, the production stood at 125.6 MT, registering a 7% fall compared to 133.7 MT in the same period last year. The offtake performance also reflected a downturn. Coal dispatches in May 2025 were 64 MT, marginally below the 64.4 MT recorded last year. For April-May combined, offtake was 128.5 MT, down 3.9% from 133.7 MT in the corresponding period last year. Among subsidiaries, SECL, MCL, and NCL were the largest contributors, while most entities including BCCL, WCL, and NEC reported declines in both production and dispatch volumes. This report was shared for regulatory compliance under SEBI's Listing Obligations and Disclosure Requirements (LODR), 2015. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
The Print
2 hours ago
- Business
- The Print
BCCL files DRHP for IPO
Kolkata, Jun 1 (PTI) Bharat Coking Coal Ltd (BCCL), a wholly-owned subsidiary of Coal India Ltd (CIL), has filed its draft red herring prospectus (DRHP) with capital market regulator SEBI, as well as BSE and NSE, for its proposed initial public offering. In a regulatory filing on Saturday, CIL said the DRHP, pertains to an offer for sale (OFS) of up to 46.57 crore equity shares by Coal India. The IPO remains subject to receipt of necessary approvals, market conditions, and other considerations, it added.
Time of India
7 hours ago
- Business
- Time of India
Coal India arms BCCL files IPO papers
State-owned CIL arm Bharat Coking Coal Ltd (BCCL) has filed draft papers with market regulator Sebi for its initial public offering. The issue will be entirely an offer for sale, as BCCL will not issue any fresh shares. Coal India Ltd (CIL) plans to sell up to 46.5 crore shares. "The draft red herring Bharat Coking Coal Ltd was filed with SEBI, BSE and NSE," CIL said in a filing to BSE. DRHP is a preliminary document that a company files with Sebi for a public offer. "The DRHP filing pertains to the proposed initial public offering (IPO) of BCCL comprising an offer for sale of up to 465,700,000 equity shares by Coal India Limited, which remains subject to receipt of applicable approvals, market conditions, and other relevant considerations," the company said. BCCL, established with a mandate to mine and supply high-grade coking coal, plays a pivotal role in fuelling the nation's steel sector, which relies heavily on the company's coal for production and manufacturing processes. The development comes days after CIL arm Coal Central Mine Planning & Design Institute Ltd (CMPDIL) filed draft papers with Sebi for its initial public offering. Coal India accounts for over 80 per cent of domestic coal output. CIL has reported a 12 per cent rise in consolidated net profit at Rs 9,604.02 crore for March quarter 2025 on the back of higher income. The company had posted a net profit of Rs 8,572.14 crore in the year-ago period.
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Business Standard
21 hours ago
- Business
- Business Standard
BCCL files IPO papers with Sebi, CIL to offload 465.7 million shares
Coal India Ltd (CIL) subsidiary Bharat Coking Coal Ltd (BCCL) has submitted draft papers to the Securities and Exchange Board of India (Sebi) for its upcoming initial public offering (IPO). The IPO will be a pure offer for sale (OFS) with no issuance of new shares. CIL plans to offload up to 465.7 million equity shares through the offering. 'The DRHP filing pertains to the proposed initial public offering of BCCL comprising an offer for sale of up to 465,700,000 equity shares by Coal India Ltd, which remains subject to receipt of applicable approvals, market conditions, and other relevant considerations,' BCCL stated. For the financial year FY25, BCCL reported a net profit of Rs 1,240.19 crore, down 20.7 per cent from Rs 1,564.46 crore in FY24. Revenue from operations in FY25 stood at Rs 13,998.45 crore, a marginal decline of 0.33 per cent from Rs 14,045.34 crore in FY24. Up to 60 per cent of the Qualified Institutional Buyers (QIB) portion may be allocated to Anchor Investors on a discretionary basis, in consultation with the book-running lead managers (BRLMs), in accordance with Sebi ICDR regulations. 'One-third of the Anchor Investor portion shall be reserved for domestic mutual funds, subject to valid bids being received from domestic mutual funds at or above the Anchor Investor Allocation Price,' the draft red herring prospectus (DRHP) stated. No green shoe option is contemplated under the offer. Currently, Coal India holds the entirety of BCCL's paid-up equity share capital, comprising 4,657,000,000 equity shares of Rs 10 each. BCCL noted in its DRHP that 'coking coal prices are on a correction trajectory as supply-side conditions in Australia are expected to ease with mine expansions and new approvals, while demand-side sentiments remain steady, with India being the major influencer.' BCCL is engaged in the mining and supply of high-grade coking coal, a critical input for steel production. Revenue from operations has been primarily driven by raw coking coal, contributing approximately 76.07 per cent in FY25, 75.40 per cent in FY24, and 76.07 per cent in FY23. Separately, CIL announced that its director (marketing), Mukesh Choudhary, has been given additional charge of director (business development). The appointment will take effect from June 1, 2025, for an initial term of three months, or until a permanent appointment is made, or until further notice — whichever is earlier — according to a regulatory filing.
BBC News
3 days ago
- Business
- BBC News
Row over infrastructure pot spending at Waverley Borough Council
Conservative councillors say that money raised through funds for infrastructure and community projects has become a "hidden revenue stream" for Waverley Borough council allocates income generated by the interest from unspent Community Infrastructure Levies (CIL) and Section 106 (S106) agreements to its main revenue account, the general fund, which includes spending on providing Conservative leader, Jane Austin, said other local authorities had made the decision to ringfence it for infrastructure and that Waverley should do the Liberal Democrats, part of a coalition that run the council, said the interest earned was managed responsibly and in line with national guidance and is a standard practice. CIL are charges made by councils on any new developments and are typically used to pay for infrastructure, such as schools and S106 agreements are negotiated between developers and councils, with funds used to benefit communities, and try to limit and mitigate the impact of new houses. The council is setting up a cross party working group to look at CIL and is reviewing cases of charges, after some homeowners were asked to pay thousands of pounds in fees for making home improvements, without the ability to Conservatives said the council had £28.3m of unspent CIL and S106 money as of 31 March 2025, which they claim is a large amount in proportion to the size of the Austin said it had "quietly become a hidden revenue stream for the council" and that there would be a "black hole" in the finances without it."We've got to the stage where our council is basically relying on the interest from this CIL and from this S106 money," she told BBC Radio Surrey.A council spokesperson refuted this, stating that Waverley had been "independently recognised as the most financially stable local authority in Surrey"."It is also, to our knowledge, the only council in the UK to have published a balanced budget for both 2024/25 and 2025/26," they Liberal Democrat leader of the council, Paul Follows, said it was "standard practice" for "funds to be allocated to specific infrastructure projects and held by the council until they need to be paid for"."These projects typically require extensive planning and can take several months, or even years, to complete," he said."All funds held by the council are managed in accordance with our approved treasury management strategy. This ensures that they generate interest, in line with our statutory responsibility to secure best value for public money."Any interest earned is retained within the council's general fund and is reinvested into local services and the enhancement of public amenities."According to the council, more than £2.1m of the £27.5m collected in CIL receipts to date had already been spent, with more than £15.2m allocated to specific infrastructure projects."Each year, we are committed to setting a responsible and balanced budget that maximises the resources available to deliver high-quality public services for the people of Waverley. This commitment remains unchanged, regardless of the level of interest income received," a council spokesperson added.
