History of Coal India:
Initially, all coal mining in India was privatized. The GoI then established a company that was known as the NCDC to have better control over the resource to ensure rapid industrialization. Then, slowly, the Government of India began to nationalize coal mines in the country. At one point, all coking coal mines were controlled by Bharat Coking Coal Limited (BCCL) and all non-coking coal mines were regulated by the Coal Mines Authority. To combine all coal sources for better coal resource management, the Government of India has created a new company. In 1975, Coal India Limited (CIL) was established.
Management of the Company:
The Chairman and MD, of the company, is Mr. Gopal Singh. The company has four Directors—Mr. S N Prasad for Marketing, Mr. Chandan Kumar Dey for Finance, Mr. Ram Prakash Srivastava for P & IR and Mr. Binay Dayal for Technical. The company also has 2 Government Nominee Directors, seven Independent Directors. In addition to these people, there are three permanent invitees to the Board.
Market Capitalization:
As of March 2018, Coal India has a market capitalization of around Rs.173,000 cr.
Wealth and Recent Performance:
According to the results for the Q3 of the fiscal year ending 2017–2018, the total income of Coal India rose from Rs.18,759.01 crore in the second quarter too, Rs.22,484.14 crore in the Q3. The total expenses of Coal India increased from Rs.17,732.60 crore in the second quarter of the fiscal year 2018 to Rs.17,873.93 in the Q3 of the same year.
The profit before tax for the Q3 of Financial Year 2018 was Rs.4,610.21 crore. For the previous quarter, the profit before tax was Rs.1,026.41 crore. The profit before tax for the Q3 of FY17 was Rs.4,157.48 crore.
The profit for the third quarter of FY18 was Rs.3,004.79 crore, which was almost a ten-fold increase from Rs.368.88 crore in the previous quarter. The gain of Rs.3,004.79 crore was higher than the profit for the third quarter of the FY17 at Rs.2,883.27 crore.
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