Coal India Limited – Indian state-controlled coal mining company
Coal India Limited (CIL) is an India based mining company, which is headquartered in Kolkata, West Bengal. It is engaged in the production and sale of coals. CIL started its functioning in 1975 with its 5 subsidiaries which includes Bharat Coking Coal Limited (BCCL), Eastern Coalfields Limited (ECL), Central Coalfields Limited (CCL), Western Coalfields Limited (WCL), and Central Mine Planning & Design Institute Limited (CMPDIL).
CIL is the third largest coal producer in the world after China and America. Coal is valued for its energy content. Most significant uses of coals are in electricity generation, steel production, cement manufacturing and as a liquid fuel. The objective of CIL is to produce planned quantity of coals and coal products efficiently and economically with regard to the safety, conservation and quality.
Coal, a fossil fuel, is the largest source of energy, primarily used to produce electricity. Steam coal or thermal coal is used in power stations to generate electricity. The goal of coal mining is to economically remove coal from the ground. The largest production of electricity through coal mining leads to economic growth. India is a developing country the growth of energy consumption leads to the economic growth of the country.
In India Coal is used 55% of primary commercial energy needs against 29% the world over. 70% of power generation in India is depending on Coal. CIL meets 40% alone the primary commercial energy needs among the total 55% produced in India. CIL is operating through 82 mining areas.
CIL reported 38% of net profit declines March 2017 to Rs. 2,716.09 crore compared to the previous year same quarter profit of Rs. 4,398.35 crore. But there is a 10 % increment in coal sales. The market capital of CIL is Rs. 146,401.75 Crore. Total revenue is Rs. 83,738.57 crore in March 2016 and Rs. 80,690.71 crore in March 2015.