Comments
Bharat Coking Coal (BCCL), a wholly-owned subsidiary of state-run Coal India, is eyeing ₹40,000 crore revenue by financial year 2029-30, driven by increased coal sales and diversification initiatives.
The company is planning to increase its production from around 41.1 million tonnes of coal in the last financial year to around 100 million tonnes by FY30.
- Also read: Coal India interested in participating in auctions to secure lithium block, says Chairman
“Our company produced 41.1 million tonnes of raw coal in FY24. In the current financial year, our target is to produce around 45 million tonnes. And by 2029-30, we aim to produce 100 million tonnes. The company is working on development of large coal blocks,” Bharat Coking Coal Limited chairman and managing director Samiran Dutta told reporters in Kolkata on Sunday.
The company’s net sales stood at ₹13,216.17 crore in the last financial year. “By FY30, we are aiming to clock a revenue of around ₹40,000 crore,” Dutta said, adding the company is planning to invest around ₹3,000 crore by FY30.
The company produced around 1.5 million tonnes of washed coal in FY24. It is looking to increase the washed coal production to 2.5 million tonnes in FY25. Coking coal accounts for the majority of the company’s coal production.
The company is diversifying into coal bed methane (CBM) and solar power generation. Jharia CBM Block-1 is under development, with an estimated gas reserve of 26 billion cubic metres to be extracted in the next 25 years. Around 45 MW of ground-mounted solar projects are also under installation.
BCCL has also embarked on an asset monetisation strategy and is looking to invite bids for private sector participation towards the development of coal washeries. “Four coal washeries are under the process of monetisation with a total capacity of around 7.1 million tonnes. Private players will source coal from us and we will offer land on lease,” Dutta said, adding the idea is to step up production of washed coal by tapping into private sector efficiency.
BCCL has declared dividend of ₹44.43 crore for FY24 for the first time in its history.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.