Annua Report' 2022-23

I n t e g r a t e d A n n u a l Re p o r t 2 0 2 2 -2 3
Driving Energy Security

Nurturing Sustainability
Our Commitment to the Nation
Since inception, Coal India Ltd. (CIL) has catered
to the growing energy requirements of the nation,
guided by the vision to secure energy for all.
Over the decades that followed, we have attained
environmentally and socially sustainable growth
by adopting best practices from mine to market.
Starting our journey with a modest

coal production of 79 million tonnes
(MTs) at the year of inception, we have
now emerged as the single largest
coal producer in the world and one of
the largest corporate employers. We
function through our subsidiaries in 83
mining areas spanning over 8 states of
India.
Approximately 70.6% of India’s total

power generation is managed through
the thermal route and 84% of the
total coal production in the country is
supplied to the power sector. We are
the largest supplier of thermal coal to
the power sector, and hence, power
security in India is directly dependent
on our performance.
At CIL, we firmly believe that the demand for
coal is likely to increase significantly as India
strives to become a $5 trillion economy over the
medium term, enhancing the quality of life of
millions of citizens. Faster urbanisation and rural
electrification drives are expected to boost the
demand for coal in India substantially.
While there is an evident shift towards renewable

energy sources, coal will continue to be the
dominant source in our country’s fuel mix, as
it offers reliability and stability of supply at
affordable prices.
We are also diversifying and expanding to

other verticals under the ‘Coal to Chemicals’
business strategy, which will ensure greater value
addition; and thereby, improve our operational
and financial performance for the long-term in a
sustainable manner.
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Corporate Overview Financial Statements
02 About Coal India Standalone Financial Statements
06 Mapping Our Presence 334 Balance Sheet
08 Product Portfolio 335 Statement of Profit and Loss
10 Business Model 336 Statement of Changes in Equity
12 Materiality Assessment 338 Statement of Cash Flows
14 Stakeholder Engagement 340 Notes to the Financial
18 Market Landscape Statements
20 Risk Management
Consolidated Financial Statements
26 Governance
414 Balance Sheet
28 Board of Directors
415 Statement of Profit and Loss
36 Chairman’s Statement
416 Statement of Changes in Equity
44 Financial Capital
418 Statement of Cash Flows
50 Social and Relationship Capital
420 Notes to the Financial
60 Manufactured Capital Statements
70 Natural Capital
80 Intellectual Capital
514
88 Human Capital Green Initiatives
100 Board of Directors 514 Green Initiatives
101 Members of the Board & Senior
To view this report

Management 515-532
online, please scan the 102 Bankers, Auditors, Registered
above QR code Notice
Office and RTA
103 Operational Statistics 515 Notice

Forward-looking
statements
116-332 533
Some information in this report may
contain forward-looking statements
Major Abbreviations
which include statements regarding
Statutory Reports
Company’s expected financial 533 Major Abbreviations
position and results of operations, 116 Directors’ Report
business plans and prospects, and
are generally identified by forward- 247 Report on Corporate
looking words such as ‘believe,‘ Governance
‘plan,‘ ‘anticipate,‘ ‘continue,‘
‘estimate,‘ ‘expect,‘ ‘may,‘ ‘will‘ 274 Management Discussion and
or other similar words. Forward- Analysis Report
looking statements are dependent
on assumptions or basis underlying 290 Business Responsibility &
such statements. We have chosen
Contents
these assumptions or basis in good Sustainability Report
faith, and we believe that they are
reasonable in all material respects.
However, we caution the readers
that actual results, performances or
achievements could differ materially
from those expressed or implied in
such forward-looking statements.
We undertake no obligation to
update or revise any forward-looking
statement, whether as a result of
new information, future events, or
otherwise.
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Corporate Overview Statutory Reports Financial Statements 1
About the Report

We are pleased to present our Integrated Annual Report, that aims
to provide a comprehensive view of our integrated and sustainable
approach, showcasing the value we create, while addressing the needs
and expectations of our stakeholders.
This report presents Coal India’s Reporting framework Reporting period

strategic framework for creating value
in the short, medium, and long-term. This report provides a comprehensive It covers the period from 1st April
It provides a concise review of the overview of Coal India’s business 2022 to 31st March 2023, offering
Company’s performance over the operations, focusing on key a comprehensive overview of the
fiscal year, showcasing how they align disclosures related to the six Company’s activities during this time
with the strategic objectives. capitals defined by the International frame. However, certain sections of
Integrated Reporting Council (IIRC). this report include historical data
Further, our activities contribute The information provided in this from previous years. The information
to the United Nations Sustainable report encompasses Coal India’s presented in the Integrated Report
Development Goals (SDGs), business model, operating context, pertains to Coal India Ltd. on a
which encompass a broad range material risks, opportunities, as consolidated basis, unless specifically
of objectives involving multiple well as governance and operational mentioned otherwise. Both the
stakeholders. We are committed to performance. financial and non-financial aspects of
working towards these SDGs, aligning the report comply with the relevant
our efforts with the global agenda for laws, regulations, and standards of the
QR code for
sustainable development. International Republic of India.
Integrated Reporting
Council (IIRC).
Exploring the
6 Capitals
This report also aligns with following:
The Companies Act, 2013

01 02
Sustainability Indian Accounting Standards
The Securities and Exchange

Board of India (Listing Obligations
Financial Social and
and Disclosure Requirements)
Capital Relationship
Regulations, 2015.
Capital
03 04
Manufactured Natural
Capital Capital
Growth
potential
05 06
Intellectual Human
Capital Capital
2 Coal India Limited Integrated Annual Report 2022-23
About Coal India

Fuelling India’s energy needs
Coal India Limited (CIL), a ‘Maharatna’ Company, operating
under the aegis of the Ministry of Coal, Government of India,
is a prominent player in the global energy landscape.
CIL operates diverse coal mines, With operations spanning 83 mining As a responsible corporate, we also
including open cast, underground, areas across eight states, we strive to adopt a holistic approach
and mixed mines to serve the unique contribute extensively to the nation’s to mining with sustainable practices
requirements of various industries. energy needs and its socio-economic that address environmental as well
Our coal and coal-based products progress. Headquartered in Kolkata, as social challenges associated with
are essential for sectors such as West Bengal, we fulfil approximately coal mining.
steelmaking, fertilisers, glass, power 79% of India’s coal production needs.
utilities, cement, ceramics, chemicals, We have also expanded our presence
paper, domestic fuel, and industrial beyond India, with a mining Company
plants. in Mozambique.
322 MINES
138 171 13
Underground Opencast Mixed
mines mines mines
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Our vision
To emerge as a global player in the primary energy

sector committed to provide energy security to the
country by attaining environmentally and socially
sustainable growth through best practices from
mine to market.
Our mission Our values
To produce and market the Our core values include equality, justice, transparency and accountability.
planned quantity of coal and These are practiced in all spheres of our business activities.
coal products efficiently and

economically in an eco-
friendly manner with due
regard to safety, conservation
and quality. Equality Justice Transparency Accountability
Key highlights
703.20 MT 694.69 MT 2,39,210

Coal production Coal offtake Employees
57,224.76 crore 38,000.81 crore 1,613 ha

Net worth PBT Land rehabilitated
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Our organisational structure
66.13% 33.87%
President of India Other investors
(through MOC, GOI) (Institutional and
as on 31-03-2023 retail)
NEC
100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
ECL BCCL CCL WCL SECL MCL NCL CMPDIL CIAL CIL CIL
Navikarniya Solar PV
100% Urja Limited Limited
33.33% 33.33% 0.19%

HURL(JV) TFL(JV) ICVL(JV)
63.97% 66.18%
Chhattisgarh Chhattisgarh
East Railway East West 50.00% 50.00%
CIL NTPC Urja Coal Lignite Urja
Limited Railway Limited
Pvt. Ltd. (JV) Vikas Pvt. Ltd. (JV)
64%
Jharkhand 70% 100% 71.11% 60%
Central Railway MNH Shakti Mahanadi Basin Mahanadi Coal MJSJ Coal
Limited Limited Power Limited Railway Limited Limited
Mapping Our Presence

Our geographic
footprint
Subsidiary
Coal India Africana

Limitada
Mozambique
Madhya Jharkhand
Pradesh West
Bengal
Chhattisgarh
Odisha
Maharashtra
Assam
North Eastern Coalfields
(Directly managed by CIL)
Ranchi
Central Mine Planning
and Design Institute
Subsidiary
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Head count FY 22-23 Coal Number of operative

(as on March 31st 2023) production (MT) mines
Bharat Coking Coal Limited
37,037 36.179 32
Central Coalfields Limited
34,975 76.087 53
Eastern Coalfields Limited
51,074 35.018 79
Mahanadi Coalfields Limited
21,827 193.262 18
Northern Coalfields Limited
13,753 131.169 10
South Eastern Coalfields Limited
41,832 167.006 67
Western Coalfields Limited
34,390 64.283 62
Product Portfolio
Contributing to a sustainable
energy future
Our product portfolio comprises different grades of coal and
coal-derived products that cater to the needs of the energy,
steel, cement, manufacturing and other industries.
Coking Semi-coking Non-coking

coal coal coal
Coking coal, when heated in the When heated in the absence of air, It refers to coal that does not
absence of air, form coherent it forms coherent beads that are possess coking properties and has
beads with a strong and porous not strong enough to be directly higher ash content. It is primarily
mass, referred to as coke. It used in the blast furnace. These used as thermal grade coal for
possesses coking properties beads are blended with coking power generation. Additionally,
and is primarily used in steel coal in appropriate proportions non-coking coal is utilised by
manufacturing and metallurgical to produce coke. It has relatively cement, fertiliser, glass, ceramic,
industries. It is also utilised for the lesser coking properties and paper and chemical industries.
production of hard coke. finds application as blendable It is also essential for brick
coal in steel making, merchant manufacturing.
coke manufacturing and other
metallurgical industries.
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Washed and Middlings Rejects

beneficiated coal
It refers to coal that has undergone These are by-products of the coal Rejects are obtained from the coal
the process of coal washing or washing/beneficiation process, beneficiation process, after the
coal beneficiation. It leads to obtained as a fraction of feed raw separation of clean coal and/or
a reduction in ash percentage, coal. Middlings are used for power middlings. It is utilised in Fluidised
thereby resulting in value addition generation, in domestic fuel plants, Bed Combustion (FBC) boilers for
of the coal. It is used in the brick manufacturing units, cement power generation, road repairs,
manufacturing of hard coke for plants and industrial plants. briquette manufacturing, land
steel manufacturing and power filling, and other similar purposes.
generation. This variety is also
used by cement, sponge iron and
industrial plants.
Business Model
Responsible value creation
Inputs Operational ecosystem
Financial Capital
J 18,619.27 crore CAPEX
J 2,11,206.65 crore Total asset
J 4,114.73 crore Debt
Exploration
Social and Relationship Capital

J 586.50 crore CSR expenditure
180+ Community development cadre
Extraction
Manufactured Capital
322 Mines
13 Coal washeries
85.80% Capacity utilisation Coal processing
and washing
Natural Capital
4,598.78 million units Energy consumption
5,974.64 KL Water consumption*
4,37,096.33 KL Fuel consumption Quality control Sales and Transportation
11,217.7 kWp Solar power capacity marketing and logistics
Intellectual Capital
58 Coal testing laboratories
J 74.86 crore R&D expenditure
R&D collaborations
Human Capital Sustainable

2,39,210 Employees mining practices
95,635 Employees trained
J 49,409.16 crore Employee Community well-being
benefit expenses
*(Mine water stored in mine pits and used for Own purpose, Community Use and ground water recharge) |
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Outputs SDGs impacted
Financial Capital
J 1,38,251.91 crore Revenue from operations
J 28,124.94 crore PAT
J 40,291.30 crore EBITDA
J 45.70 EPS
Social and Relationship Capital

2,274 People rehabilitated
J 56,524.11 crore Contribution to exchequer
Customer grievances resolved
Manufactured Capital
703.20 MT Coal production
694.69 MT Coal off-take
695.13 MT Coal dispatched
2.155 MT Total washed coal (Coking) production
Natural Capital
52.10 million units Reduction in electricity usage
5,524.64 KL Water recycled**
~5,606 tonnes p.a CO2 Emission reduction
Rehabilitation/ 68,36,317 KwH Total solar energy generated
closure 31.01 lakh Saplings planted
Intellectual Capital
26 Ongoing R&D projects
10 Ongoing Science and Technology
(S&T) projects
6 Academic collaborations
Financial stability
Human Capital
1,234 New recruits
5,83,984 Training man-days achieved
Enriched human capital 0.09 per million te. Serious injury rate
** Own use – 2831.89 lakh KL, Community Use – 2691.57 lakh KL Ground water Recharge - 451.176 lakh KL
Materiality Assessment
Identifying material
issues with agility
We conduct a comprehensive materiality assessment to
identify and address material topics that are relevant to our
business as well as the stakeholders.
It helps provide valuable insights about stakeholder concerns, and expectations. During the
materiality assessment, we also actively involve internal stakeholders from various departments.
This collaborative approach allows us to capture cross-functional insights, which it enables us to
align our sustainability initiatives, foster transparency and build trust.
By prioritising topics based on their criticality, we align strategies, action plans, and goals with the
identified material topics to ensure sustainable business operations.
Materiality matrix
High
Hygiene Factors: Company 6 Top Priorities: An effective and

needs to balance responding to externally visible management
stakeholder concerns without 15 response to these issues is vital
incurring substantial cost 5 for long-term business success
7
26 19
16
14
Potential impact on CIL’s business
17 11 4
1 10
18
24
25 22 20
21 8
13
23
12
2
Monitoring Issues: Best practice Hidden Value Creators: Company should

suggests that Company should monitor consider education and awareness raising
these issues as they may become more 9 with stakeholders to educate them about
Low
impactful over time the relevance to Company’s business
Low Importance to external stakeholders High

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Top Priorities: Hidden Value Creators:

6 Air emission 2 Financial performance and growth
15 Community engagement 12
Employee development and well-being/
training and education
7 Biodiversity and land management
23 Energy management
26 Grievance redressal management system
9 Mechanization of mines
19 Mine closure
14 Labour conditions/human rights assessment Hygiene Factors:
4 Waste management 5 Ghg emissions/climate change
11 Employee inclusion and diversity 10

Reducing environmental impacts during
transportation and dispatch
1 Water management
17 Land acquisition and rehabilitation
16 Socio-economics compliance
18 Upholding rights of indigenous people
25
Business continuity/long-term business 24 Disaster management
sustainability
22 Business risk management Monitoring Issues:
20 Regulatory compliance/anti-corruption 3 Renewable energy and clean energy
21 Business ethics and corporate governance 13 Occupational health & safety
8 Environmental and regulatory compliance
Stakeholder Engagement
Nurturing stronger bonds
We recognise the importance of engaging with our stakeholders and
fostering amicable relationships. Our commitment to stakeholder
engagement enables us to communicate the impact of our business
decisions, activities, and performance, while co-creating sustainable
solutions for shared success.
Fostering shared Stakeholder engagement

value process
We understand that creating shared

value with our internal and external Stakeholder Engagement Strategy
stakeholders is vital for our long-term
growth and responsible operation.
Through proactive engagement,
we seek to understand their needs,
concerns, and expectations. By
integrating their perspectives into 01 03 05
our decision-making processes and Stakeholder Stakeholder Addressing
strategies, we ensure that our actions Identification Categorisation Expectations and
align with their interests. and Prioritisation Concerns
Emphasis on continuous
communication 02 04
Using the principles of inclusiveness, Defining our Impact Stakeholder

materiality, and responsiveness, on Stakeholders and Consultation
we identify and prioritise our Stakeholder’s Influence on us
stakeholders based on their
influence on our operations and
the significance of their concerns.
This allows us to closely manage,
satisfy, inform, and monitor different
stakeholder groups following specific
requirements.
Through regular and meaningful

interactions, we keep our
stakeholders informed about our
organisational priorities, programmes,
performance, and business goals.
To facilitate clear channels of
communication, we obtain their
feedback, analyse expectations and
strive to foster effective dialogue.
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Importance of relationship Needs and expectations
Customers Strengthen brand loyalty and build mutually Customer satisfaction (including quality
beneficial relationships of coal and delivery time)
Source of revenue Grievance redressal
Local communities Provide access to land and resources Livelihood options and job
opportunities
Help\create a strong workforce
Rehabilitation and resettlement (R&R)/
Provide the social licence to operate
Environmental clearance
Forest land clearance
Employees Source of productivity Job satisfaction
Provide knowledge and expertise Wages and welfare
Learning and development
Health and wellness
Suppliers and Provide raw materials (explosives and Notice for inviting tenders
contractors machinery) and services
Improve efficiency and productivity
Shareholders Hold the Company accountable for Financial performance

performance and compliance to corporate
Business strategy
governance structure
Operational performance
Influence decision-making processes
ESG initiatives
Knowledge partners Provide access to new technologies and Research and development
industry expertise
Help improve safety and environmental

performance
Government/ statutory Enable adherence to rules and regulations Regulatory requirements

and regulatory bodies Provide funding and support Compliance with national and local
regulations
NGOs Help improve social and environmental Minimise the impact of mining activities
performance on local communities
Allow the Company to strengthen Value creation through CSR activities

relationships with local communities
Media Help communicate with stakeholders Expectation to fulfil performance

criteria, social and environmental
Builds brand value and reputation
obligations
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Modes of engagement Engagement frequency Capital linkage
National Carbon Capture Centre meeting with customers Annually Financial Capital
Regional Coal Consumers Council meeting with customers Annually Social and
Meetings between customers and the marketing team Continuous process Relationship Capital
Online filing and redressal of complaints Continuous process Manufactured

Capital
Sustainable development initiatives Continuous process Social and

Relationship Capital
CSR activities Continuous process
Natural Capital
Project meetings Continuous process
Public hearing as a part of statutory compliance As and when required
Corporate-level industrial relation meetings with union leaders Continuous process Intellectual
Capital
Trainings and seminars Continuous process
Human Capital
Safety Fortnight Annual
Vigilance Awareness Week Annual
Interactive meetings and sessions during tender approval process As and when required Financial Capital
Vendors meet At least once a quarter Manufactured
Capital
Regular meetings and interactions Continuous process Financial Capital
Manufactured
Capital
Social and
Trainings Continuous Process Intellectual

Capital
Human Capital
Performance reports Annual and quarterly Manufactured

Capital
Board meetings As and when required
Compliance report Annual Natural Capital
Inspections Continuous process Social and

Direct engagement and discussions through public forums As and when required Financial Capital
Social and
Press releases and interviews As and when required Social and

Market Landscape
Assuring energy security for India
Coal is one of the most widely used fossil fuels and is an integral commodity
for power generation. Along with being a primary energy source for electricity
generation, it is also used for the production of cement, iron and steel. The
coal industry also plays an important role in the socioeconomic development
of the country, meeting the evolving needs of a rapidly growing country.
?
Did you India ranks fifth in the world, in In addition, industries like iron
terms of coal deposits and Coal and steel, cement and fertilisers
know India Limited is one of the largest

producers of coal. India is the
second-largest consumer of coal
are some of the industries that
depend on coal for their energy
requirements. In India, about
behind China, with the demand 13 million people are employed
primarily driven by the power sector. in various sectors associated with
coal, including mining, transport,
power, sponge iron and steel1.
Market dynamics
Bridging the demand Strong growth in coal demand and Adoption of digital methods to aid
supply gap production productivity
The coal industry is a significant The total production of coal in India To enhance productivity of coal
source of revenue for the country. The during FY2022-23 was 893.08 MT, mines, automated and digitised
domestic demand for coal continues reporting a positive growth of 14.76% processes have been implemented.
to be high. The coal industry is over the previous year3. Driven by Additionally, coal is now kept in silos
expected to grow at 6-7% annually, rising population, a growing economy or bunkers and immediately loaded
reaching 1 billion tonnes by FY 25-26 and a quest for improved quality of on waggons with the help of a quick
and approximately 1.5 billion tonnes life, energy usage in India is expected loading system or belt conveyors. This
by 2030. It is anticipated to replace to rise phenomenally over the next minimises carbon emissions to a large
substitutable imports and enhance few years. Despite the emphasis on extent. Additionally, coal exchange
exports2. renewable/non-fossil fuel based energy, between producers and suppliers is
transitioning from coal is highly unlikely expected to improve the supply chain
in the foreseeable future. Share of coal operations.
in the energy basket is also expected
to remain significant as the demand
for coal is likely to be in the range of
1.3-1.5 billion tonnes by 2030. The
demand is also projected to rise and
peak around 20404.
1
https://www.pwc.in/assets/pdfs/research-insights/research-insights-hub/our-take.pdf
2
https://www.indiabudget.gov.in/economicsurvey/doc/echapter.pdf
3
https://coal.gov.in/en/major-statistics/production-and-supplies
4
https://pib.gov.in/PressReleasePage.aspx?PRID=1881423
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Regulatory reforms National Action Plan on Climate Significant reduction in estimated

Change and the National Electricity global carbon emissions from
Single window clearance Plan has minimised the reliance on the current one billion tonnes, by
coal for power generation. It has 2030.
Coal is the most important and created opportunities for alternative
abundant fossil fuel in India. It uses of coal in the form of coal Minimise the economy’s carbon
accounts for 49.3% (excluding gasification, liquefaction and hydrogen intensity by 45% till 2030, from
lignite) of the country’s energy needs. production. 2005 levels.
According to CEA, 70.6% of the
With the use of advanced Goal of achieving net zero
electricity production is obtained from
technologies, coal can be transformed emissions by 2070.
coal. To ensure adequate supply of
coal, the government has created into gaseous or liquid forms that can
As India progresses towards fulfilling
a platform to obtain single window be utilised as feedstock in a variety
its COP 26 commitment, more policies
clearance for the operationalisation of of industrial and chemical processes.
favouring renewable energy generation
coal mines in the country. As the government continues to
are expected to be implemented.
emphasise the importance of lowering
Going forward, the share of renewable
emissions from power generation,
energy in the total energy mix is also
Enhanced role of private sector and these practices are expected to gather
likely to increase.
MDOs steam in the years ahead. To meet the
excess demand, the supply of coal
With the government allowing greater has to increase through approvals Environmental and social impacts
participation of the private sector in for new mines or capacity expansion
coal mining, it has ensured a steady The environmental as well as social
of current mines. To achieve 100
supply of coal to meet the nation’s impacts of mining continue to be
MT of coal gasification by 2030, the
energy needs. It has also offered major challenges for the sector. The
Indian Government has launched the
opportunities to source coal in an issue of mining-induced displacement
National Coal Gasification Mission5.
economic and responsible manner. and resettlement (MIDR) poses threats
to communities. However, efforts
The Government of India has also to adopt responsible practices and
encouraged the use of Mine Developer Embracing sustainability
ensure proper relocation of people
Operators (MDOs) in the coal affected due to mining has helped
industry to improve efficiency and India’s commitments in COP26
offset the impacts of coal mining to a
productivity. MDOs have introduced certain extent.
India is committed to playing an active
new technologies and management
role in combating climate change
practices and are typically more
through a reduction in greenhouse gas Decarbonisation
agile and adaptable to changing
emissions. At the 26th Conference
market dynamics. The involvement
of the Parties (COP26) to the United Over the past year, miners and
of the private sector and the use of
Nations Framework Convention on investors have intensified efforts for
MDOs are anticipated to attract more
Climate Change (UNFCCC), India decarbonisation. Since as early as
investments to the sector, introduce
announced five key commitments 2013, financial institutions, including
new technologies and efficient
to enhance contributions to a more banks, pension funds, and insurance
management practices to improve
sustainable future: companies have been reluctant to
overall efficiency and productivity.
finance ventures related to thermal
Develop capacity to generate coal. However, efforts to embrace
Coal gasification 500GWN of non-fossil fuel based sustainable methods and minimise
energy by 2030. carbon emissions from the sector have
India’s energy strategy has seen
paved the way for greater investments
a considerable shift, favouring the Meet 50% of the country’s energy
in the industry.
growth of cleaner and renewable needs with renewable energy by
energy sources. The government’s 2030.
5
https://assets.ey.com/content/dam/ey-sites/ey-com/en_in/topics/mining-metals/2023/04/ey-steel-coal-and-iron-ore-report.pdf?download#:~:
Risk Management
Proactively mitigating threats
We have established a robust risk management framework to effectively
address and mitigate potential risks. The framework encompasses
various mechanisms for defining, prioritising, and formulating contingency
strategies to tackle risks. It outlines the roles, responsibilities, and duties
of different authorities, committees, and the Board in executing risk
management procedures. A comprehensive Risk Management Calendar is
followed to ensure periodic monitoring and evaluation of risks.
Action 04 01 Identification
Plan of Risk
Risk
management
process
Analysis 03 02 Evaluation
of Risk of Risk
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Risk management team
We have formed a specialised sub- the risk landscape and formulates Independent Director. Additionally,
committee of the Board of Directors prioritised risk mitigation plans a separate Risk Management
that forms the Risk Management for overseeing its implementation Committee is formed at our
Committee (RMC). The Chief Risk across the organisation. Each of our headquarter. The RMC provides
Officer (CRO), supported by a subsidiaries maintain an independent strategic direction and evaluates the
competent team, operates under the Risk Management Committee, led effectiveness of the Risk Management
guidance of the Risk Management by a Chief Risk Officer of the rank of Framework.
Committee (RMC). It assesses General Manager and chaired by an
Board of Chief Risk

Directors Officers (CROs)
Risk
Management
Structure
Functional
Risk
HODs/
Management
Executives in
Committees
Charge
We have taken significant steps to Review of risks

foster a strong risk management
culture. The Board has approved a Risk assessment, identification, and
Risk Management Charter and Risk mitigation measures are thoroughly
Register to effectively address risks discussed during the bi-annual
and align it with our internal goals and Risk Management Committee
objectives. The identification of Risks meetings. We consistently review the
That Matters (RTM), has been carried effectiveness of our Risk Management
out, and dedicated Risk Owners and Framework as an integral part of
Risk Mitigation Plan Owners have our strategic planning process. By
been appointed to ensure continuous adhering to a comprehensive risk
monitoring and mitigation efforts. management framework, we aim to
proactively address potential risks,
safeguard our operations, and ensure
sustainable growth.
Risks identification and

mitigation
Under the leadership of the Chief This includes formulating Risk carefully assessed. Subsequently,
Risk Officer (CRO) and with the Mitigation plans for the prioritised a comprehensive mitigation plan is
involvement of the Heads of risks and addressing the Risks That devised to manage and minimise
Departments (HoDs), a dedicated Risk Matter (RTM) and are specific to us. the potential adverse effects of
Management team has implemented these risks. Through this systematic
the governance processes outlined The potential impacts of each approach, we aim to enhance our risk
in the Risk Management Framework. identified risk on operations are management practices and ensure the
smooth functioning of our operations.
Risks of unviable mining
Why do they matter? How are we mitigating them?
The viability of underground To tackle and mitigate this risk, we have undertaken the following steps:
mining operations is crucial for
We identify unviable coal mines on technology, re-orienting mining
financial stability, operational
the basis of cost-benefit analysis, method and enhancing safety
efficiency, and environmental
balance mineable reserves and standards.
sustainability. Unviable
technical assessments including
operations can lead to significant Over the years, we have taken
safety and environmental
financial losses, hinder long- proactive steps to suspend
concerns.
term growth, compromise safety production from unviable mines.
standards, and result in wastage We prioritise revival of unviable In FY 22-23, a total of four
of valuable resources. mines through loss reduction unviable mines were suspended
measures by implementing new from production.
Competition risks
Commercial mining and We strive to manage competition by adopting the following measures:
emphasis on renewable power
We closely monitor coal demand. remain the primary supplier of
generation pose a threat
By FY 24-25, coal demand is coal to thermal power plants in
to our market share in the
estimated to reach 900 million the near future.
energy sector. Competition
tonnes, including supply through
from commercial mining and Also, certain sectors like steel
e-auction. In order to meet this
renewables can also lead to manufacturing will continue to
demand, we set our production
pricing pressure. demonstrate consistent demand
target at 840 million tonnes,
for coal. Additionally, the demand
aligning it closely with the
for coal as a feedstock for
projected demand figures.
synthetic fuel production, such
Based on our Fuel Supply as petrochemicals, gasification,
Agreements (FSAs), we would and methanol, is expected to gain
momentum in the near future.
002-115 116-332 333-513
Cyber security risks
Cyber security risks pose We have implemented different cyber security measures to
potential threats to our secure our digital presence.
information systems, data,
A dedicated Cyber Crisis The CISO is responsible for
and operations. As a large
Management Group has been implementing and monitoring
organisation in the mining
formed at our headquarters, with information security measures,
industry, we handle sensitive and
the Director (Technical) serving both internally and across our
confidential information related
as the Chairman. Similar groups subsidiaries.
to our operations, employees,
have also been established at
customers, and stakeholders. A We conduct regular security
all subsidiaries to ensure the
cyber-attack or breach could lead awareness programmes for
implementation of comprehensive
to significant financial losses, end-users to enhance their
cyber security measures across
reputational damage, disruption understanding of cyber threats
the organisation.
of operations, and compromise and promote best practices.
critical data. To oversee and coordinate These programmes include
information security practices, we expert talks, email campaigns,
have identified and designated and display boards to educate
a General Manager from the employees about potential risks
System Department as the Chief and ways to mitigate them.
Information Security Officer (CISO).
Credit risks
The credit risks of receivables We prioritise addressing credit risks in order to maintain the cash flow and the
from Public Sector Undertakings overall financial health of the organisation. We undertook the following measures
(PSUs) directly impact the to mitigate these risks:
financial health and liquidity of
Through our online reconciliation General Manager (Sales) of
the organisation. Disputed and
portal, our subsidiaries conduct the coal companies oversees
undisputed receivables from
invoice-wise reconciliation on coordination with the
PSUs can pose challenges in
a daily basis. We engage in Competition Commission of
terms of delayed payments,
regular correspondence with coal India (CCI), legal matters, and
potential write-offs, and cash
companies and consumers to ADRM issues.
flow constraints.
expedite the collection of dues and
Provision of Cash and Carry
resolve disputes. In cases where
is already included in our Fuel
commercial disputes cannot be
Supply Agreements.
resolved bilaterally, we refer them
to the Administrative Mechanism The Audit Committee of CIL and
for Resolution of CPSE disputes our subsidiary coal companies,
along with the Finance Director,
regularly reviews the status of
debts.
Operational safety risks
Operational safety risks may To ensure operational safety and create a safe working environment,
have a potential impact on the we have implemented the following:
well-being of workers and the
To enhance operational safety accountability and adherence to
overall operational efficiency.
and comply with statutory regulations.
Failure to comply with safety
requirements, we have formulated
regulations and implementation The SMPs have been diligently
Site Management Plans (SMP)
of safety measures may lead to prepared in accordance with the
for each mine. These plans
unsustainable and irresponsible guidelines set by the Directorate
clearly outline the roles and
functioning of the mining General of Mines Safety (DGMS)
responsibilities of officials involved
industry. and have been submitted for
in mining operations, ensuring
review and approval.
Evacuation risks
Efficient evacuation of coal is To address evacuation risks for coal off-take, we have undertaken strategic
crucial for the smooth off-take projects on a ‘Deposit Basis’ to enhance evacuation capacities in the medium
of coal production. Limitations to long-term.
or bottlenecks in the evacuation
This includes initiatives to evacuate Additionally, through joint
infrastructure, can result
coal through the Tori-Shivpuri ventures with state governments
in delays, congestion, and
rail line and Jharsuguda-Barpali- and the railways, we have
increased costs of moving coal.
Sardegna rail line. provisioned the construction
of dedicated railway lines in
Greenfield coalfields and formed
special purpose vehicles (SPVs).
002-115 116-332 333-513
Technology risks
Upgrading technology and The following measures help upgrade technology, make equipment available
ensuring optimal utilisation of on time and ensure its efficient utilisation for mining operations.
Heavy Earth Moving Machinery
(HEMM) can help us remain Technology upgradation: Availability and utilisation of
competitive, maximise resource HEMM:
Revision of equipment
extraction, and meet market
specifications to incorporate latest Procurement of high-capacity
demands. Failure to address
technologies such as electrical HEMM with guaranteed
these risks could result in
drive, fuel-efficient engines, and availability of spares and
reduced operational efficiency,
health/productivity monitoring consumables.
increased costs, and lower
systems.
profitability. Regular review and early
Implementation of uniform recommissioning of long
technical specifications for breakdown HEMM.
decentralised HEMM procurement
Premature survey of obsolete
across subsidiaries.
and irreparable equipment.
Discontinuation of 10 Cu.M
Monitoring and follow-up
electrical rope shovels and
for survey of/grounding of
procuring higher capacity electric
equipment that has completed
rope shovels for better productivity.
its lifecycle.
Engagement of continuous miners
Performance monitoring of
and surface miners to improve
dumpers through Payload
productivity.
Monitoring System data
Digitisation initiatives in open-cast analysis.
mines for enhanced productivity
and operational efficiency.
Governance
A strong framework for ethical
and transparent operations
We have implemented robust governance measures to ensure
transparency, accountability, and the prevention of corruption. Our
corporate structure, operations, and disclosure practices reflect our
constant commitment to good corporate governance.
Ensuring ethical operations Vigilance framework
One of the key aspects of our At the corporate headquarters in Vigilance Commission (CVC). This
governance structure is the Kolkata, we have established a coordination ensures effective
formulation of comprehensive policies well-structured Vigilance Division, handling of complaints, investigations,
and frameworks. These policies cover led by a Chief Vigilance Officer and systemic improvements that have
a wide range of areas, including (CVO) and supported by a team implications on multiple subsidiaries
but not limited to, ethical conduct, of vigilance officers with diverse as well as the Company.
conflict of interest, anti-corruption, expertise. Additionally, each of
whistleblowing, and compliance with our eight subsidiaries has its own Any misconduct with a vigilance angle
applicable laws and regulations. These independent Vigilance Unit, headed that is a violation of the CDA Rules of
policies serve as guiding principles by a dedicated full-time CVO. The CIL, is verified, investigated and as per
for our employees and stakeholders, CVO at the corporate level acts as the merits of the case, disciplinary/
ensuring that they adhere to the a coordinating authority between departmental proceedings initiated
highest ethical standards in their day- subsidiary vigilance units, the Central against the delinquent officials.
to-day operations. Bureau of Investigation (CBI), the Based on the outcome of the enquiry,
Ministry of Coal, and the Central appropriate action as mandated in the
CDA Rules is taken.
Code of
Integrity
for Public
Procurement
CIL Code
of Conduct
Code of Suppliers
Business Code
Conduct of Conduct
002-115 116-332 333-513
Zero tolerance for corruption Integrating ethics into the supply Enhancing awareness
chain
The commitment to combating Joint Stakeholders Meets and
corruption within the organisation We ensure that vendors, service Grievance Redressal Camps are
is underpinned by a zero-tolerance providers, and consultants are also organised periodically, and public
policy. We have developed clear covered under our anti-corruption participation in anti-corruption
policy guidelines, including manuals initiatives through contractual awareness programmes is encouraged
and detailed Standard Operating obligations, general terms and through activities such as Gram
Procedures (SOPs), to support anti- conditions, and the Integrity Pact Sabhas, workshops/seminars,
corruption efforts. In addition, we have Programme, in accordance with CVC competitions in schools/colleges,
established an effective Complaint guidelines. and the use of publicity materials and
Handling Policy and Whistleblower social media platforms.
In cases where incidents of corruption
policy, which serve to strengthen our
are detected, we initiate disciplinary
anti-corruption initiatives.
actions following the CDA Rules of the Moreover, we also observe the
We adhere to a comprehensive Company. For criminal misconduct, Vigilance Awareness Week,
‘Complaint Handling Policy’ aligned such matters are reported to the which was held from October 31
with CVC guidelines and employ an appropriate agencies in adherence to to November 6, 2022, under the
Online Complaint Handling Portal for CVC guidelines. Criminal prosecutions theme ‘Corruption-Free
related to corruption cases are carried
streamlined processing from receipt to India for a Developed
disposal of complaints. This approach out through law enforcement agencies
such as the CBI, with monitoring
Nation’. This annual event
ensures that all complaints received aims to raise awareness and
by the organisation are dealt with oversight from the Vigilance
foster a culture of integrity
promptly and in accordance with Department of CIL.
and ethical conduct within the
established procedures. organisation and society at large.
Disciplinary action is taken in all
cases where officials are convicted
132
of any corruption charges and in CBI
investigated cases where sanction
for prosecution has been accorded, Anti-corruption training
Corruption complaints resolved simultaneously departmental action is
also initiated and taken to its logical To enhance awareness and
conclusion following the provisions of understanding of preventive vigilance
CDA Rules. and anti-corruption measures, we
conduct comprehensive training
and sensitisation programmes for
12 all vigilance functionaries. Officials

are nominated for training on anti-
corruption, conducted by various
Instances of action taken against
organisations such as the CBI, CVC,
corruption
NFSU, NPC, and others. Induction
training on preventive vigilance is
provided to all executives upon joining
the organisation, and such training is
also periodically conducted for non-
executive employees and contractual
staff. Seminars, workshops, and
interactive sessions are held
frequently to increase awareness
among employees.
Board of Directors
Leading with foresight
sincerity and dynamic leadership as he took charge as Executive

he progressed through different roles Director-cum-Head of the Project,
in the Company and became General Hazaribagh, Jharkhand. During his
Manager of Lingaraj area in Mahanadi tenure, he led the commencement
Coalfields Limited (MCL). In 1994-95, of coal mining operations at
he was instrumental in reopening of Pakribarwadih mines, Hazaribagh.
DRC mines, which were affected by the During his term in 2016,
underground fire during his posting in Pakribarwadih was bestowed with
WCL. For this remarkable job, he was the first prize in ‘Swarn Shakti
awarded as ‘Best Mines Manager’ from Awards’. In February 2018, he
Shri PM Prasad [DIN: 08073913] Secretary Coal, Ministry of Coal (MoC) joined Northern Coalfields Limited
has assumed the charge of and Chairman, Coal India Limited in (NCL) as Director Technical
Chairman -cum- Managing 1995. During his successful stint as (P&P). Under his leadership,
Director of Coal India Limited General manager at MCL, he was NCL was awarded at the World
on 1st July, 2023. Prior to responsible for successful opening Environmental Conference in
this, he was holding charge of and operations of ‘Kaniha Open cast June 2018 for outstanding work
Chairman-cum-Managing Director Project’ from March, 2010. He is also in environmental conservation.
(CMD) of Central Coalfields credited for diversion of nallah at He took over the charge of CMD,
Limited (CCL) from 01/09/2020. Hingula Opencast Area to unlock coal Bharat Coking Coal Limited
Shri Prasad has 38 years of reserve of 26.00 MT in the year 2014- (BCCL) in August 2019. Amid the
experience in the varied facets 15 and commencement of New Railway challenging conditions, he led
of operations and management. Siding No. 9 at Talcher Coalfields. from the front with commitment,
Shri Prasad is a mining engineer He has a special penchant for safety vigour, and dedication. He
from Osmania University. He and the projects with which he was spearheaded the Company’s
did M. Tech. in ‘Open-Cast associated have won various prizes at fight against the pandemic and
Mining’ from Indian School of different competitions including hat- was instrumental in various
Mines (IIT- ISM), Dhanbad. In trick for two projects i.e., Padmapur initiatives to transform the overall
1988, he acquired first class Opencast, WCL between 1996 and performance of the Company.
mines manager certificate from 1998 and Nandira UG Mine, MCL Shri Prasad is renowned for
DGMS. He also obtained degree between 2004 and 2006. In May, 2015, his interpersonal skills and is a
in law from Nagpur University he joined NTPC as Executive Director firm believer in teamwork and
in 1997. Shri Prasad began his (Coal mining). He was acknowledged possesses excellent technical
career as an executive trainee for expediting the process of award expertise. Under his guidance,
with Western Coalfields Limited of MDO projects and awarded the Company is poised to attain
(WCL), a subsidiary of Coal Pakribarwadih coal block (NTPC’s new milestones and scale further
India Limited (CIL) in1984. He first project) and floated NITs for heights of success. He does not
exhibited dedication, hard work, remaining coal blocks. In March 2016, hold any shares of Coal India Ltd.
002-115 116-332 333-513
Government Nominee Directors
He is an IAS officer belonging to 1993 During 2004-08, he served in the

batch. He did post-graduation from Ministry of Finance, Department of
the University of Hyderabad. Over the Economic Affairs as Director in Japan/
course of the service, he served at North America and in the World Bank
state, national and international level Divisions. Thereafter, he worked as
in the areas of public order, revenue Advisor to the Executive Director at
& development administration, tribal the World Bank in Washington DC from
development, finance, international 2008 to 2012. He was a visiting fellow
economic relations, Industries and at the University of Pennsylvania, USA
commerce, healthcare and State for one year in 2012-13 and Visiting
Shri Nagaraju Maddirala finances. In the State Government, Research Scholar at the Stonehill
[DIN: 06852727] Additional Secretary, he served as District Magistrate, College in 2018-19. He joined as
MoC, has assumed the charge of part- Director, Tribal Welfare, Secretary / Joint Secretary, Ministry of Coal on
time Director (Govt. Nominee) on the Principal Secretary of Health, Women 30.01.2020 and after promotion as
Board of Coal India Limited (CIL) w.e.f. and Child Development, Finance and Additional Secretary, Ministry of Coal
22nd February, 2023. Industries & Commerce departments. from 03.11.2020. He does not hold any
shares of Coal India Limited.
Policy & Sustainable Development Secretary in the Ministry of Culture,

from TERI University, Delhi. Ms. Kotru Government of India, where she looked
has served in Income Tax Department after prestigious academies such as
at Mumbai, Chennai, Delhi and Pune Sahitya Academy, National School of
in various assignments and was Drama, Indira Gandhi National Centre
involved in setting up of International for the Arts, Sangeet Natak Akademi
Taxation Directorate of the Income and Lalit Kala Academy as well as
Tax Deptt. As Director (E-Governance) renowned museums such as National
in the Ministry of Corporate Affairs, Museum, Delhi, Victoria Memorial
she administered the award-winning Museum and Indian Museum, Kolkata,
Smt. Nirupama Kotru [DIN: 09204338] MCA21 corporate filing system. She among others. She brings with her
Joint Secretary & Financial Advisor, was also instrumental in setting up the varied experience in different fields
MOC, is an officer of the Indian Indian Institute of Corporate Affairs of administration as well as taxation.
Revenue Service (Income Tax) of the at Manesar. As Director (Films) in the She is also a Director in Hindustan
1992 batch. Born on 28 January, Ministry of Information & Broadcasting, Zinc Limited and Bharat Aluminium
1969, Nirupama Kotru has done her ,she looked after the administration Company Limited. She does not hold
BA in Economics (Hons.) from St. of media units such as NFDC, Films any shares in Coal India Limited.
Stephen’s College, Delhi University, Division, National Film Archive and
and MA in Politics & International Directorate of Film Festivals, and all
Relations from School of International policy matters relating to films. Until
Studies, Jawaharlal Nehru University, recently she was posted as Joint
Delhi. She has also done MA in Public
Functional Directors
Branding, Compensation Management He has excellent stakeholder’s

and Bench-marking, Change management skills and has been
Management, Cultural Building, working directly with promoters for
Employee Engagement, Employee last six years. He is recognized for
Relations, HRIS, Employee Productivity integrity and commitment with high
and Learning & Development. He has level of service delivery & execution. He
also successfully extended HR support also possesses strong interpersonal,
to overseas business entities. He was communication and negotiation skills.
also part of two full life cycle SAP HR He became INSEAD alumni pursuant
implementation. He lead the team for to successful completion of course at
Shri Vinay Ranjan full life cycle SAP HR implementation glittering graduation ceremony held
[DIN: 03636743] took over the charge at TATA Communication (Erstwhile at Fontainebleau campus, France on
as Director (Personnel & Industrial VSNL), where he led the 8 member 29th July 2016. Shri Vinay Ranjan was
Relations), Coal India Limited on team consisting from VSNL HR and corporate Head-HR of DB Power Ltd.
28th July, 2021. Shri Ranjan is a TCS for the implementation of entire (A Dainik Bhaskar Group Company)
performance-focused people-oriented SAP HCM module. He was also part of when Dainik Bhaskar Group diversified
professional with extensive years of the Tata Teleservices (TTSL) SAP HR and decided to build two large Thermal
experience in entire gamut of HR, implementation team on deputation power plants with investment of USD 2
which includes large scale Lateral/ from VSNL. He is impactful leader with Billion. He does not hold any shares of
campus hiring, Talent Management, the ability to develop and lead efficient Coal India Limited.
Performance Management, Employer and highly productive workforce.
he was Director (Technical) Operations 1987 and has more than 32 years of
of Eastern Coalfields Limited from experience in coal mining, planning,
01.01.2020 till 31.01.2022. He did his procurement and operations. He
B. Tech. in Mining from Kothagudem worked in different capacities in
School of Mines, Osmania University in the Mechanised Underground and
the year 1986 and obtained First Class Opencast mines and in Corporate
Managers Competency Certificate Project Planning department of
by DGMS in the year 1990. He has SCCL. Prior to his joining as Director
also completed Master of Technology (Technical) Operations of Eastern
in Mine Planning from Kothagudem Coalfields Limited he worked as
Dr. B. Veera Reddy School of Mines, Osmania University General Manager of Adriyala Longwall
[DIN: 08679590] has assumed the in the year 2000. He completed his Project Area of the Singareni Collieries
charge of Director (Technical), CIL doctorate from IIT-ISM, Dhanbad. Company Limited. He does not hold
w.e.f 1st February, 2022. Prior to this Shri Reddy joined SCCL in the year any shares of Coal India Limited.
002-115 116-332 333-513
mechanical engineering from UCE to Indian Oil’s Gas Business in 2009.

Burla, Sambalpur University, Shri. Shri. Nanda headed the ‘Natural Gas’
Nanda is a Post Graduate in production business of Indian Oil which had a
engineering from REC Rourkela turnover of over H20,000 crore. He
and has to his credit a Masters in developed many robust strategies for
International Business from IIFT, New increasing the penetration of Indian
Delhi. Shri. Nanda joined Indian Oil Oil in the natural gas business. He has
Corporation in 1988 as a Management also handled various diverse positions
Trainee in the Marketing Division and for liaising with MoP&NG, PNGRB and
spent 11 years in marketing at Servo other Industry bodies. He has chaired
Shri Debasish Nanda lubricants. Thereafter, he moved the US-India Energy Task Force,
[DIN: 09015566] has taken over as to Business Development Group headed the work on pipeline RLNG
Director – Business Development in 1999. He did a stint in Business exports to Bangladesh & Sri Lanka and
of Coal India Ltd w.e.f 11th July, Development activities comprising of was accorded status of aggregator of
2022. Prior to this, he was working expansion of lube business overseas, HP-HT domestic gas for urea plants.
as Executive Director (Gas) in Indian exports of POL, setting-up of Indian He does not hold any shares of Coal
Oil Corporation. A graduate in Oil’s subsidiaries etc. before moving India Limited.
Department of Defence Production, as Director (Coal Production and

Ministry of Defence. Mr. Choudhary Despatch) in the Ministry of Coal where
assumed the charge from Dr. B. his functions included monitoring
Veera Reddy, Director (Technical) CIL coal supplies, transport logistics and
who was additionally officiating as marketing policies. He also served on
Director (Marketing) since May of this the boards of six government-owned
year. An Officer of Indian Ordnance coal companies -MCL, SECL, NCL,
Factory Services (IOFS) 1996 batch, CMPDIL, NTPL, SCCL. At a time when
Mr. Choudhary is a Mechanical CIL’s coal supplies have peaked to
Engineering (Honours) graduate from record high levels, especially to the
Shri Mukesh Choudhary Engineering College Kota. He also major coal-consuming power sector,
[DIN: 07532479] took over as Director holds a Master of Financial Analysis and coal demand is expected to
(Marketing), Coal India Limited (CIL), (MFA) degree and a MBA degree. shoot up, spurred by the increased
the state-owned Maharatna coal mining Importantly for CIL, Mr. Choudhary electricity generation in the country,
behemoth on and from 23rd December, is well versed in the finer nuances of Mr. Choudhary’s experience will help
2022 (A/N). Prior to taking up the reins country’s coal demand supply chain in tackling the challenging issues.
of the CIL marketing division’s top and CIL’s marketing system on the He holds 1200 shares of Coal India
slot, he was Deputy Director General, back of his six and a half year exposure Limited.
Independent Directors
by the President of India. He was India. He guided 59 Research Scholars

also conferred with Best Researcher for the award of Ph.D. degrees. He
Award in 2000 and Dr. Sarvepalli was Expert Committee member
Radhakrishnan Best Academician for assessment of Major Research
Award in 2008 by Andhra University, Projects, University Grants Commission.
and Government of Andhra Pradesh He held different positions such as
conferred him with. ‘State Best Teacher Assistant Principal, College of Science
Award’ in 2014. He was the faculty & Technology, Chief Warden, Science
member of Andhra University from Hostels, Head of the Department
1989 to 2019. He carried out post- of Inorganic & Analytical Chemistry,
Prof. G. Nageswara Rao doctoral research at Indian Institute Director, School of Chemistry, Associate
[DIN: 08461461] has been appointed of Science, Bengaluru (March 1990 Director, Directorate of Admissions,
as an Independent Director on the – February 1991) and at University Placement officer, College of Science
Board of Coal India Limited w.e.f. of Durban, South Africa (April 1997 – & Technology, Andhra University.
1st November, 2021. He was Vice- March 1998). Prof. Rao has published He has functioned as Chairman of
Chancellor of Andhra University during 367 research papers in national and several NAAC peer teams and search
July 2016 and July 2019, In-charge international journals and participated committees for Vice-chancellor position.
Vice-chancellor of Dr. B.R. Ambedkar in 121 conferences. He completed Prof. Rao is the Member of Executive
University, Etcherla from July 2017 till research projects funded by University Council of Central Tribal University of
December 2017 and Mentor, Central Grants Commission, Department of Andhra Pradesh, a central University.
Tribal University of AP from January Science & Technology, Department of He is also President of Vidyabharathi,
2019 to July 2019. He has been Ocean Development, and Ministry of Andhra Pradesh. He does not hold any
conferred with Honorary Colonel rank Ocean and Earth Sciences, Govt. of shares of Coal India Ltd.
of Punjab & Jharkhand. He has vast Quality Education, Promoting Tribal

experience of Policing in Terrorist Language & Preservation of Tribal
and Naxal (LWE) Affected Areas He Culture, Traditions and Values. He is also
also did Police Executive Programme the Founder President of ‘SANGHARA’
Course in Cambridge University, UK. a registered organization in Punjab for
Further he has done his MBBS from the welfare of tribal migrants of Punjab,
Rajendra Medical College & Hospital Haryana, Himachal and Western U.P.
(RIMS), Ranchi. He has also worked as He represented Civil Services Delhi
Sr. Medical Officer in The Emergency & Punjab team, Rest of Bihar, Ranchi
Medical Team of 4 Former Prime University, Ranchi District in Cricket.
Dr Arun Kumar Oraon Ministers. He has experience as Vice He has also represented All India Police
[DIN: 09388744] has been appointed President in JSPL, Ranchi. He was Games Champion, Punjab Police team
as an Independent Director on the also adviser and former President of in Lawn Tennis. He is the Director,
Board of Coal India Limited w.e.f 1st Akhil Bhartiya Adivasi Vikas Parishad. Lawn Tennis Academy, JSCA, Ranchi
November, 2021. He is an 1992 Batch He is also running, ‘Ratri Paathshala’s’ and President, Gumla District Cricket
IPS, Punjab Cadre. He took voluntary for the poor tribals in three districts of Association. He is also a National
retirement from the rank of IGP. He Jharkhand in as many villages. He is Executive Member & co incharge of ST
was awarded the best Probationer the Founder of Forum of Tribal Police Morcha BJP, Assam. He does not hold
Trophy during IPS Training. He has Officer’s in Jharkhand and worked any shares of Coal India Ltd.
Served as SP, DIG & IGP in the State for the welfare of Tribals by Providing
002-115 116-332 333-513
Advisory, Project Financing, Corporate senior partner. He was the member of

Finance, funds restructuring and Taxation committees and Professional
representation before Tax and other Development Committees at Northern
government departments. He is also India Regional Council of ‘The Institute
a Law Graduate from Delhi University. of Chartered Accountants of India’. He
He has vast experience in serving is also associated with ‘The Institute
several sectors including Banking, of Chartered Accountants of India’ and
Real Estate, Distillery, Manufacturing ‘The Institute of Company Secretaries
and Processing industries, Transport, of India’. He is an active social Activist
Health and Education. He has vast and motivational speaker associated
CA Kamesh Kant Acharya experience in working with several with RSS and other nationalist, social,
[DIN: 09386642] has been appointed banks including Reserve Bank of welfare, charitable and resident
as Independent Director on the Board India, State Bank of India, Punjab & organisations or associations. He
of Coal India Limited w.e.f. 2nd Sindh bank, New Bank of India and is the former member of National
November, 2021. Shri Kamesh Kant also worked in different Public and Commerce cell, District Treasurer and
Acharya is a fellow member of “The Private limited companies etc. during Ward President of BJP. At present he is
Institute of Chartered Accountants of different audits. He was associated the State Co-convenor at CA cell, BJP
India. He has an experience of more with Acharya Goel & Associates, Delhi and also the member of Vigilance
than 20 years in different spheres Chartered Accountants and at present Committee Circle- 58, Department of
of profession including Statutory associated with ASKM & Associates, Food Supplies and Consumer Affairs,
Audits, Tax Audits, Tax Planning, Chartered Accountants firm as a Government of NCT of Delhi. He does
not hold any shares of Coal India Ltd.
December 2017 to March 2020. The Power Corporation Ltd., Directorate

Board of United Bank appointed of Public Works Department and other
him as the Chairman of the Audit organizations under the Government of
Committee and member of the Uttar Pradesh as Financial Consultant.
Stakeholders Relationship Committee, During his tenure as Vice President,
the Nomination Committee, the ACCMAN Business School, he
Customer Service Committee, the was actively involved in providing
IT Sub-Committee, and the Election strategic inputs and oversight of key
Committee. He is the founder Director functional areas. He also has extensive
International Business Valuers experience in teaching. He teaches
CA Denesh Singh Association (IBVA)- a RVO recognized subjects like Banking & Financial
[DIN: 08038875] - He has been by IBBI. He has over 20 years of Services, Credit Appraisal & Risk
appointed as an Independent Director diversified experience serving clients Management, Financial Accounting,
on the Board of Coal India Limited w.e.f in various industries in India and Legal Aspects of Business, Project
1st November, 2021. Shri Denesh Singh internationally. He has specialized in Planning Appraisal & Control, and
is a fellow member of The Institute of auditing, taxation, project financing, Management Accounting & Control.
Chartered Accountants of India (ICAI) management consulting, and other He is also a member of Research
and the Vice President of ACCMAN consulting support services to & Development Committee of The
Business School. He is also an MBA businesses in the public and private Institute of Chartered Accountants of
from EIILM University approved by sectors for over 20 years. He has, India, New Delhi and Committee for
UGC, DEC & AICTE) with 1st Division for over 15 years, imparted training members in Industry & Business of The
and B.Com (Hon) from Banaras Hindu to Accountants and Finance Officers Institute of Chartered Accountants of
University with 1st Division. He is the of several Government Departments India, New Delhi. He does not hold any
senior partner of ASC & Associates, in different areas of Accounts and shares of Coal India Ltd.
Chartered Accountants. He served Finance viz. Department of Horticulture,
on the Board of United Bank of India Department of Sericulture, Department
as an independent director from of Animal Husbandry, Uttar Pradesh
November, 2021. He is a Bachelor of Gujarat Ati Pachhat Jati Vikas

in Science from 1978. At present he Board from 2010-2012, President of
is an Industrialist and Agriculturist. G.I.D. Eng. Association, Gandhinagar
He has been Executive Member of from 2005 to 2007, Member of High
National Scheduled Caste Morcho, Power Committee, Govt. of Gujarat
B.J.P, President of Gujarat Senva and 1985, President of B.J.P. Scheduled
Ravat Vikas Sangh and Executive Caste Morcho Gandhinagar ( Gujarat)
Member of B.J.P Gujarat State. He from 1990 to 1994. He was Director
was M.L.A of Dasada Vidhansabha in Gujarat State Handloom Dev.
(Gujarat) from 2012 to 2017, Parliament Corporation from 1998 to 2002 and
Shri Punambhai Kalabhai Makwana Secretary of Govt. of Gujarat from 2015 Director in Gujarat State Nasabandhi
[DIN: 09385881] has been appointed to 2017, Secretary of B.J.P Gujarat Board from 1982 to 1988. He does not
as an Independent Director on the Pradesh from 2002 to 2004, Chairman hold any shares of Coal India Ltd.
Board of Coal India Limited w.e.f 2nd
Shri B. Rajesh Chander Hittakkal Estate Tea Factory from1998

[DIN: 02065422] has been appointed to 2020. He had also held the post of
as an Independent Director on the Trustee/Secretary at Isha Foundation
Board of Coal India Limited w.e.f. during the period 2008 to 2020. He is
1st November, 2021. Shri Rajesh also professionally involved in tea and
Chander is an Engineering graduate coffee planting business. He is also a
from Sri Jaychamarajendra College member of Tea Board of India. He is
of Engineering, Mysore. Shri Rajesh also a member of Board of Governor
Chander has served as Chairman of of Lawrence School, Lovedale (under
Coimbatore Tea Traders Association Ministry of Education). He does not
during the period 2015 to 2017. He had hold any shares of Coal India Ltd.
also served as Managing Partner at
Capt Ghanshyam Singh Rathore and administration during his tenure

[DIN: 09615384] has been appointed at the Army. He served as a Squadron
as an Independent Director on the Leader in the 42 Armoured Regiment
Board of Coal India Limited w.e.f. during his career and had provided
1st March, 2023. He was born on leadership to independent teams in
19th July, 1966 and completed his Technical operations. He had also
Bachelor’s degree in Arts from Hindu rendered his advice to Superior Officers
College, Delhi. He has also completed on military matters, administration and
Professional Army courses in High management of subordinate staff. His
Altitude Mountain Warfare, Radio areas of specialization and expertise
Instructor and Part ‘B’ and had also includes Management, Administration
trained in manpower management and Technical Operations. He does not
hold any shares of Coal India Ltd.
Shri Brajesh Kumar Tripathy, Chief in many vigilance reforms and system
Vigilance Officer, CIL. Shri Tripathy improvements while working as Chief
IRSE, [1996 Exam Batch] has assumed Vigilance Officer (Engg.) in Eastern
the charge of Chief Vigilance Officer Railway.
(CVO), Coal India Limited, Kolkata on
16th November, 2022. He did Bachelor Shri Tripathy has vast experience of
of Engineering (Civil) from MNREC, about 25 years in planning, design and
Allahabad and Masters of Technology execution of various Railway projects,
from IIT, Delhi. Before joining CIL he as well as maintenance and operation of
served in the administrative post of major infrastructure. He has expertise in
Additional Divisional Railway Manager matters related to establishment, budget,
(ADRM) of Asansol Division of Eastern tenders and contract management etc.
Railway. Earlier, he was instrumental He does not hold any shares of Coal
India Ltd.
002-115 116-332 333-513

Chairman’s Statement
Dear Stakeholders, but pricing will be a challenge to sector. CIL’s supplies to power
their economic viability. sector comprised 84% of its entire
As we enter another year filled with despatch during FY 22-23.
challenges and opportunities, I am • The country’s total electricity
pleased to share with you our progress, generation during 2022-23, • Coal based electricity generation,
achievements, and vision for the future. including renewables was 1624.16 including imported coal, was
Over the years, we have played a pivotal Billion Units (BU) compared to 1145.86 BU during 2022-23. The
role in fueling the growth of the nation's 1491.86 BU generated in 2021-22. generation through domestic coal
economy by ensuring a steady supply of The generation growth of 8.87% sources was 1105.25 BU or 96.5%
coal, which is the backbone of our energy during the year was a 13-year with the major portion of coal
sector. Our commitment to excellence, high, which is a testament to the supplied by your Company.
sustainability, and innovation has been country’s swelling energy appetite.
instrumental in shaping our journey and • CIL is also one of the largest
driving positive changes in the industry. • Of this total, coal-based generation contributors to the government ex-
accounted for 70.6% or 1145.86 chequer – both Central and State
I would like to highlight our key BU, with 10% growth over the – and also plays a crucial role in
accomplishments, the steps we have preceding year. country’s social fabric touching the
taken to ensure sustainable growth, lives of countrymen in more ways
and our dedication to the well-being • Though renewable sources have than one under its corporate social
of our stakeholders, environment, and grown by a robust 19% in FY 22-23 responsibility umbrella.
communities. over FY’22, their contribution in the
overall generation was only 12.5% • Coal India supplies its coal to
at 203.36 BU. In other words, the Indian consumers at highly
1. Coal and Coal India Limited renewables trail coal by 5.6 times. competitive costs compared to
in India’s Energy Canvas This amplifies the importance international coal prices.
• India’s energy consumption of coal’s role and the need for a

• Despite the increase in various
has more than doubled since balanced energy transition from
input costs, especially diesel
2000 propelled by intensified coal to renewables.
and explosives, your Company
industrialisation and urbanisation. still sustained an all-time record
• Additionally, coal stokes many
The need for energy continues to profitability registering 61% growth
non-power industries as well viz.
expand. It is becoming increasingly in PBT and 62% growth in PAT
steel, cement, fertilisers, sponge
evident that no single source of compared to FY 21-22.
iron, aluminium and a host of other
energy can shoulder the entire
industries.
demand and it has to be a synergy
of all sources. Yet, ‘Coal’ remains
2. A Year of record highs
• With coal commanding such
the country’s energy spearhead prominence in the Indian energy • Shattering the previous records,
meeting more than half of the sector, Coal India Limited leads your Company’s vital performance
primary commercial energy despite the country’s coal production parameters like production, over
the renewable energy sources contributing to around 79% of burden removal (OBR), coal off-
steadily gaining ascendancy. The the nation’s entire coal output. take, supplies to the power plants
dependence on coal is unlikely to Your Company is committed to of the country, Net Sales, PBT and
diminish soon and its dominance increasing its production and PAT have peaked to a remarkable
will continue for two decades at the supplies to the mandated levels to all-time high.
least. ensure the country gets power at
reasonable price points. • In a unified concerted effort, all
• From an environmental point of subsidiaries of CIL have chipped in
view increase of renewable energy • During the last five years, Coal with their best performance to date
sources in the country’s energy India’s production grew by 24% to by achieving growth in production
basket is certainly well aspired. But 703.20 MT in FY 22-23 from 567.37 and OBR.
the big question is whether they will MT in FY 2018.
be able to supplant coal at this point • Officials at all levels of hierarchy
of time. Solar and wind are big bets • In a country where 70.6% of the right from CMDs of CIL’s subsidiary
and leading the race. Green and total electricity generation is coal companies down to GMs, Area
blue hydrogen are getting a keen -based, your Company virtually Managers have donned leadership
focus from the country’s planners, empowers the nation’s power roles in keeping the spirit up
002-115 116-332 333-513
and elevating their respective March. OBR target was achieved 4. Other Marketing
Company’s performance. for the first time in seven years Achievements
since 2015-16.
• Quality Coal Supply The efforts
3. Production • Your Company’s OBR rose to a new for better quality coal supplies
• Breaching the 700 MT production record of 1658.627 M.Cu.M during reflected a positive jump as the
mark for the first time your Company the fiscal achieving 101.5% of the grade conformity improved to 70%
has achieved this challenging target target. The previous high of OBR during FY 22-23 from 66% over FY
on 30th March one day ahead of was 1362.06 M.Cu.M in FY’22. The 21-22 according to the third party
the closure of FY 22-23. Growth was 21.77% over last year. sample analysis results received.
The 297 M.Cu.M volume expansion
• Coal India produced 703.2 MT Now, all the consumers of CIL have
in a single year was the highest ever
of coal in FY 22-23, with 100.5% the option for quality assessment of
increase.
target satisfaction. The growth was the supplies through independent
a strong 13% over 622.6 MT over 3.2 Coal Off-Take third-party sampling agencies.
FY’22.
• CIL’s total coal off-take shot up to As a result of conscious and
• The volume increase of 80.6 MT 694.7 MT in FY’23, the highest till continuous measures taken
production in a single year was date, with 32.8 MT increase. The towards quality maintenance, the
a never witnessed high since the 5% growth was over a high base of gap between the weighted average
Company’s inception. It outstripped last year, when CIL’s supplies were of declared and analysed GCV of
by nearly two-fold the previous high 661.9 MT. coal during the year was only 3
of 44.5 MT hike reported in 2015-16. Kcal/kg well within one GCV band.
• Five of the seven coal producing
• Also, the 80.6 MT quantum upsurge • Rake loading up Average loading
subsidiaries of your Company
during FY 22-23 was almost per day was at its highest ever level
exceeded previous fiscal’s off-take
equivalent to the combined growth of 273.6 rakes against 271.2 rakes/
by considerable margin. In the
of the previous seven financial day compared to FY 21-22. Average
order of logging maximum growth
years which was 84 MT. loading to Power Sector consumers
in volume terms they are: MCL
was also at a high of 259.4 rakes/
(16.4 MT), NCL (7.9 MT), SECL (4.5
• Five of CIL’s coal producing day against 243.1 rakes/day with
MT), BCCL (3.3 MT) and CCL (3.2
subsidiaries BCCL (113%), MCL year-on-year growth of 7%.
MT).
(110%), NCL (108%), WCL (104%),
and CCL (100%) have raced ahead • Single window mode agnostic
3.3 Supplies to Power Sector
of their respective production e-auction Starting 1st March, 2023
targets of 2022-23. • Your Company’s supplies to power onwards coal companies have
sector rose to an unprecedented started conducting ‘single window
• Leading the production growth high of 586 MT ending FY 22-23. mode agnostic e-auction’ replacing
among CIL’s subsidiaries, MCL with the spot auction.
a high orbit production of 193.3 • Given a demand target of 565
MT accounted for 27.5% of CIL’s MT by the power sector at the • E-auction fetches higher premium
total production. The production Increased premiums in e-auction
beginning of FY’23, CIL topped
increase over FY’22 was 25.1 MT. sales along with higher volume sales
it by an additional 21 MT by the
have augmented the Company’s
fiscal’s end. This was 103.7%
• SECL making a significant strong profitability during the year.
target achievement.
turnaround produced 167 MT by Though e-auction volume sales at
FY’23 end, up by 24.5 MT compared • Satiating the power sector’s 62.32 (raw coal) MT during FY 22-23
to 142.5 MT of last year. increased appetite, the Company were lower by 43.8% compared to
supplied 45.6 MT more coal in 110.80 MT of FY 21-22, the higher
3.1 Over Burden Removal premiums helped your Company in
FY’23 compared to the preceding
fiscal. In the process, CIL posted turning up the sales by H9,347 crore.
• In a resolute display, CIL made
8.3% growth in supplies to power Realisation per tonne of coal under
short the OBR target of 1634 million
plants over a high base of 540.4 MT e-auction was H4,841.14 against
cubic metres (M.Cu.M) four days
of FY 21-22. H1,879.42 per tonne in FY 21-22, up
before FY 22-23 closure on 27th
by nearly 158%.
• Consumer grievance redressal Forestry clearances for seven recommended a final dividend of
For quicker redressal of commercial proposals of 1920.15 Hectares and H4.00 per share for FY 22-23 in its
grievances of the consumers and final approval (Stage-II FC) for seven meeting held on 7th May, 2023.
to cement better business relations proposals of 885.86 Hectares.
Coal India has set up ‘Consumer
7. Record Capex
Grievance Redressal Committees’
6. Finest Financial
at its headquarters as well as at • Capital expenditure of CIL has
Performance
subsidiary companies. registered a phenomenal growth
• Your Company has registered of 20.90% over previous year.
5. Growth strategies a humongous growth in Profit This helped your Company spend
Before Tax (PBT) by 60.91% and H18,619.27 crore in FY 22-23
• Mine Developers and Operators Profit After Tax (PAT) by 61.84% in compared to H15,400.96 crore in
Of the 15 MDO projects (11 OC and FY 22-23 vis-à-vis FY 21-22. PBT FY 21-22
4 UG) having a combined targeted of CIL consolidated is H38,000.81
capacity of 170 MT work orders crore and PAT is H28,124.94 crore • The target Capital Expenditure
were issued for nine projects of in FY 2022-23. This was despite of H16,500 crore has been
127 MT/Y capacity during the year. provisioning H8,153 crore in the accomplished with 112.84%
Three of the nine projects have accounts in 2022-23 towards wage achievement rate. The achievement
already begun mining operations revision of CIL’s non-executive comes at a time when Govt. of India
and of the remaining six, bids are manpower. had advised CPSEs of the country
under evaluation for two projects to scale up their expenditure to
while for four projects the tendering • Your Company’s Net Sales, boost the economy.
process is on. the highest ever till date, was
H1,27,627.47 crore during the year • The capital expenditure, fully funded
• Projects Approved 24 Coal Mining achieving a robust 27% growth through internal resources, was
Projects with a total capacity of compared to H1,00,562.57 crore in driven up by many developments
140.3 MT/Y were approved in FY 2022. of your Company like accelerated
FY 22-23. The total sanctioned HEMM procurement process,
capital for these projects is • Gross Sales have also risen to a land acquisition, coal evacuation
H 22130.22 crore. record level of H1,87,455.57 crore initiatives, rail infrastructure
during the fiscal year, eclipsing the strengthening, timely contract
• Focus on UG mining For the previous best of H1,52,603.30 crore finalizations and execution, Joint
revival of output through UG mines recorded in FY 2022 by nearly 23%. Ventures, and so on.
CIL has identified 30 discontinued
mines for their operationalisation. • Earnings before interest, tax, • The year’s record Capex will yield
These mines have an estimated depreciation, amortisation, positive results for the Company
mineable reserves of around 600 impairment (EBITDA) - the in ensuing years in terms of
MT. They are being pursued under measure of a Company’s financial production and coal transportation.
two tranches. In the first tranche, performance has risen by 49%
tenders have been floated for during FY’23 to H40,291.30 crore 8. Strengthening evacuation
reviving 20 mines. Of the 10 bids from H26,973.89 crore in FY 21-22. infrastructure
received, Letters of Acceptance
• Your Company and its Subsidiaries • To ensure seamless transportation
were issued for all of them. Under
paid/adjusted H56524.11 crore of coal through rail mode especially
the second tranche, tenders have
towards Royalty, GST, Sales Tax/ from mines having high growth
been floated for nine mines.
VAT, GST Compensation Cess, potential, your Company has
• Five Continuous Miners have been Cess, District Mineral Foundation invested in the construction of new
commissioned during FY 22-23 to (DMF), National Mineral Exploration rail lines.
boost underground mechanisation Trust (NMET) and other levies. This
in ECL, WCL and SECL. is a growth of 13.78% compared to Some of the major developments in
FY 21-22. FY 22-23 include -
Green clearances CIL secured
environmental clearances for 40 • Coal India has paid a total interim • Starting the construction of the
proposals having an incremental dividend of H12,479.57 crore during Shivpur-Kathautia new railway line of
capacity of 87.32 MT/Y. Your FY 2023 at H20.25 per share. 49.09 km with achieving the Financial
Company has also secured Stage-l Further, Coal India’s Board has Closure of the project in May 2022.
002-115 116-332 333-513
• ‘Inflated Mileage’ has been mines into eco-parks as part of dredging from water courses of
approved by Railway Board for reclamation to boost local tourism rivers, which severely affects the
two railway tines funded by CIL and promote conservation in riverine eco-system. This move by
on ‘Deposit Basis’. Capacity mining areas. These have become Coal India helps preserve the eco-
enhancement works have started popular as eco-tourism points. system to some extent.
during the year in both the railway CIL’s Subsidiaries have developed
lines of Jharsuguda- Barpali- 3 eco-parks over an area of 41 Ha
13. Effective Utilisation of
Sardega, stretch of 52.41 km and with a budget of H5.67 crore during
Mine Water
Tori- Shivpur, stretch of 44.37 km. the year. A total of 30 such eco-
parks are already attracting steady • Mine water discharged from Coal
• Angul- Balram rail link project of 14.22 footfalls. Plans are afoot for the India’s mines benefitted 11.10
km, undertaken by Mahanadi Coast creation of more eco parks, eco- lakh people in 837 villages in the
Railway Ltd, has been commissioned tourism sites and eco-restoration proximity of its mining areas during
on 14th November, 2022, thereby sites in mining areas. the year. The water was used for
enhancing rail evacuation capacity
domestic and irrigation purposes.
by about 15 MTPA from Talcher
11. Energy Efficiency Measures Nearly 110 more villages and
coalfields of MCL.
42,000 more populace benefitted
• Coal India has adopted of a mix compared to FY 21-22. A total
• Under the First Mile Connectivity,
of energy efficient measures by of 2,832 Kilo Litres of water was
the eco-friendly mechanised
beginning FY 21-22. Ending FY 22- utilised for own use including
transportation of coal, construction
23 these measures have resulted industrial and domestic whereas the
of 7 projects having a total of 92 MT
in a reduction of 69,000 tonnes of use of 2,692 Kilo Litres benefitted
have been commissioned till date.
Co2 emissions this year which was the community for domestic and
124% of the estimated target of irrigation purposes .
9. Procurement through GeM 55,766 tonnes.
• According to the government • Total savings on energy was 84.20 14. CSR: Concern for
mandate of enhancing procurement million KwH (units) as a result of Community
of goods and services through implementation of energy efficient
GeM portal, CIL has exceeded the LED lights, ACs, super fans, water • Coal India is a major CSR spender
targeted value of procurement of heaters, motors, and auto timer among the CPSEs of the country.
goods at H3107.33 crore. Target for street lights. Your Company as whole spent
2022-23 was H3035 crore. H586.50 crore on CSR activities
during the fiscal year.
12. Creating Wealth from
10. Efforts for Enriching the Waste through Sand • Some of the major CSR projects
Environment segregation Plants undertaken during FY 2022-23,
include the construction of a 5,000
• Greening the mining areas In a • As part of a novel out-of-the-box
seater library at Ranchi University,
two-year period, your Company’s initiative, your Company is creating
reconstruction of rain shelter cum
plantation in its mining areas sand from overburden material.
common facility center in Badrinath,
almost went up two-fold to 1613.39 Three such sand segregation
and the establishment of centralised
Hectares (Ha) in FY 22-23 from projects one each in WCL (2,08,229
kitchen for providing mid-day meals
1,468 Ha of FY’22. During the fiscal Cu.M,) ECL (18,000 Cu.M,) and
to 50,000 students in Ramgarh
year, CIL has planted over 31.01 NCL (38,200 Cu.M,) during the year,
(Jharkhand), among others
lakh saplings. have cumulatively produced a total
of 2,64,429 cubic metres of sand • MCL and CCL were declared
• CIL has exceeded the year’s from OBR. This initiative makes
winners in ‘Agriculture & Rural
target of 1,510 Ha achieving inexpensive sand available for
Development’ and ‘Promotion
107% satisfaction. The increased construction in eco-friendly manner.
of Sports,’ respectively in the
plantation helped in creating about
• Sand, one of the essential prestigious National CSR Awards
81,000 tonnes of carbon sink
commodities commands huge 2020, declared in August 2022.
potential per year.
demand in the construction
• CSR spend of H2,172.63 crore
• Creation of Eco-Park CIL industry. Presently, the demand
during a four-year period till the end
is converting its abandoned is met through sand mining and
of FY 22-23, was 25.7% higher than
H1,731.6 crore that the Company First is for a joint venture between Board where several PSUs have
was statutorily obligated to spend. SECL and Madhya Pradesh Power participated.
Generating Company Limited
(MPPGCL) to implement 1 x 660
15. Breakthrough for wage 19. Safety: A priority Concern
MW Supercritical Thermal Power
agreement under NCWA-XI
Station replacing the retired • Your Company’s concentrated
• Your Company is the largest generating units situated at the focus on ensuring safety of its
corporate employer in the country existing premises of MPPGCL’s workmen resulted in fatalities and
and the large base of it comprises Amarkantak Thermal Power fatal accidents falling by a third in
skilled non-executives. CIL lays Station, Chachai, district Anuppur, 2022. Fatalities have hit an all-time
high priority on timely conclusion of Madhya Pradesh. low of 20 in 2022 coming down
their wage revision. by 31% in a year compared to 29
• The other initiatives is setting
up of 2 x 800 MW Super critical recorded in 2021.
• On a positive note, Coal India
and the four central trade unions thermal power plant in Odisha,
• Demonstrating a downward
BMS, HMS, AITUC and CITU, on through Mahanadi Basin Power
trend, fatal accidents were also
3rd January, 2023 have signed a Ltd. (MBPL), a 100% subsidiary of
reduced by one third to 18 in 2022.
Memorandum of Understanding MCL. MoU between CIL and Assam
Comparatively the same were 27 in
(MoU) recommending 19% Power Distribution Company
2021.
Limited (APDCL) was executed for
Minimum Guaranteed Benefit
purchase of 1200 MW from the • Fatality rate per million tonne (MT)
(MGB) to its 2.38 lakh non-executive
proposed MBPL Power Plant. of coal produced was 0.028 in
employees, as part of National Coal
Wage Agreement –XI (NCWA-XI). 2022 decreasing sizeably by 40%,
17. Employee learning and as against 0.047 of 2021; whereas
• MGB of 19% is over the Vocational Training coal production during the referred
emoluments as of 30th June, period has gone up by 71 MT.
2021, which include basic pay, • A total of 1,083 multi-disciplinary
variable dearness allowance, executives across different levels • Coal India views safety as a priority
special dearness allowance and and disciplines were offered training concern at par with its performance
attendance bonus. in premier management institutes. parameters. The primary concern
The total number of Coal India’s of CIL is to safeguard its prime
• Further, 25% increase in allowances employees trained were 95,635 assets – Men, Mines and Machines.
has been agreed by your Company which is 39.86% of the Company’s Safety norms are viewed holistically
at time of conclusion of NCWA-XI total manpower. Roughly 36,644 to make all mining operations safe
wage pact. contractors’ workers were
and hazard free.
provided with Skill Development
• During previous three editions trainings in CIL’s Vocational
of NCWA, Coal India was the Training Institutes in accordance 20. Integrated Report
first CPSE in the country to have to Mines Vocational Training Rules.
successfully concluded the wage • The Company has voluntarily
Nearly, 8,891 apprentices
pact of the workforce. prepared its first integrated
were engaged and offered
Annual Report that aims to
on-the-job-training at Coal India
provide a comprehensive view of
16. Signing of MoUs and Subsidiaries for one year.
our integrated and sustainable
• CIL has executed three approach, showcasing the value
18. Sporting Activities
Memorandums of Understanding we create while addressing the
(MoUs) with BHEL, GAIL India • During the year, Coal India spent needs and expectations of our
Limited and IOCL for undertaking H2.97 crore towards creation of stakeholders.The report presents
coal-to-chemical business, using sports infrastructure, assistance Coal India’s strategic framework
surface coal gasification, which is to players excelling in their for creating value in the short,
proposed to be implemented jointly respective fields and sponsorship medium, and long-term. It provides
through JV companies. of major sports events. Coal a concise review of the Company’s
India has also organised Cricket performance over the fiscal year,
• Coal India signed two MoUs for its and Golf Tournament for All India showcasing how it aligns with the
foray into thermal power business. Public Sector Sports Promotion strategic objectives of the Company.
002-115 116-332 333-513
21. Business Responsibility for compliance of conditions of and endeavours to move ahead
and Sustainability: Corporate Governance has been as a contemporary, professional,
obtained from a peer reviewed, consumer friendly and successful
• During the year, your Company practising Company Secretary. corporate entity committed to
has published its ‘Business national developmental goals. Our
Responsibility and Sustainability • Your Company has conducted vision also extends to dedicate
Report’ (BRSR) in the Annual Report. Secretarial Audit by a peer reviewed our services to the service of the
The BRSR indicates the Company’s Practicing Company Secretary countrymen in providing the primary
performance against the principles firm for F.Y. 2022-23 as required commercial energy in an affordable
of the ‘National Guidelines on under Companies Act 2013. The and environment-friendly manner.
Responsible Business Conduct’. Company has complied with the Coal India aims to be not only a
This would enable the members to provisions of Companies Act, 13 valued Company, but a Company
have an insight into Environmental, and SEBI (LODR) Regulations with values.
Social and Governance initiatives 2015 except for appointment of
of the Company. Woman Independent Director
24. Acknowledgement
resulting in levy of penalty by Stock
Exchanges for non-appointment • On behalf of your Company’s Board
22.Corporate Governance
of Woman Independent Director. of Directors, I wish to convey my
• Your Company has complied The Secretarial Audit Report deep gratitude to you, our valued
with the conditions of Corporate 2022-23 forms part of Director’s shareholders, for your continued
Governance, as stipulated in Report. The power to appoint support and trust. This motivates
the Guidelines on Corporate Woman Independent Director us to excel in all our pursuits and
Governance for Central Public vests with the Govt. of India. constantly create value for you as
Sector Enterprises (CPSEs) Your Company has taken up the well as for the nation.
issued by the Department of matter with Ministry of Coal even
• I appreciate the unstinted
Public Enterprises, Government before vacancy arose as well as
support and valuable guidance
of India and Regulation 34(3) subsequent to the vacancy.
received from the Ministry of
read with Schedule V of the Coal, Government of India. I also
SEBI (Listing Obligations and 23. Vision express my sincere thanks to other
Disclosure Requirements) Central Government Ministries and
Regulations, 2015 with the Stock • Your Company’s vision is to ensure Departments, State Governments,
Exchanges. As required under that there is no shortage of coal all employees, Trade Unions,
SEBI (LODR) Regulations 2015, in the country and to make the Auditors, Consumers, Suppliers
a separate section on Corporate country self-reliant in terms of and all other stakeholders for their
Governance has been added to coal. Coal India envisions to be continuous co-operation.
Directors’ Report and a Certificate a commercially viable Company
Sd/-
P.M. Prasad
Dated: 20th July, 2023 Chairman -cum- Managing Director
Place: Kolkata (DIN-08073913)
Our vision of securing the

energy needs of the nation has
made us an integral player in
India’s growth
story.
Backed by our financial

discipline, production
expertise, intellectual capacity
and human expertise,
we continue to fulfil our
commitment to energy
independence. It has also
enabled us to balance the
needs and expectations
of our stakeholders in a
socially and environmentally
responsible manner.
002-115 116-332 333-513
01
Financial
Capital
02
Social and Relationship
Capital
03
Manufactured
Capital
04
Natural
Capital
05
Intellectual
Capital
06
Human
Capital
Financial
Capital
Backed by efficient capital allocation plans
and prudent financial management, we have
strengthened the foundation of a value-
accretive business. Our constant emphasis
on generating returns for stakeholders
keeps us well on track to fulfil organisational
objectives and pave the path for sustainably
fulfilling India’s energy aspirations.
002-115 116-332 333-513
What does Our Financial Capital encompasses

the funds available for deployment
Financial in our mining operations, including
Capital retained earnings, equity funding
mean to us? and profits. We prioritise adequate
cash flow, dividend payouts and a
well-defined capital allocation plan to
support our sustainable growth.
How By upholding sound performance

Financial metrics and efficient management of
Capital cost of capital, we ensure the long-
term viability of our operations and
supports our facilitate funding for our portfolio of
value-creation? income-generating assets.
Robust financial
performance 1,38,251.91 crore Net profit
With our consistent growth trajectory Total Revenue from Operations (Net) (H in crore)
and focus on optimising operations,
we continue to strengthen our
1,27,627.47 crore
28,125
position as a leading player in the
energy sector. We achieved record-
breaking figures across key financial
metrics such as Total Revenue from Net Sales
17,464
17,378
16,700
Operations, Net Sales, Profit Before
40,291.30 crore
Tax (PBT), Profit After Tax (PAT),
12,702
Capital Expenditure (CAPEX), and
E-Auction Realisation.
EBITDA *
One of the primary factors contributing
to the significant increase in profit was
28,124.94 crore
the remarkable growth in Net Sales,
which surged by H27,064.90 crore.
This growth was primarily driven by a
2018-19
2019-20
2020-21
2021-22
2022-23
record offtake of 694.69 million metric PAT
tonnes (increasing by 32.80 million
metric tonnes or 5% over the past
year) and an increase in the average
realisation per tonne.
The average realisation per tonne

24.08%
Operating profit margin
improved due to better premiums Return on average net worth
for E-Auction sales and higher (%)
Performance Incentives booked by
subsidiaries. Notably, the E-Auction 22.04%
74.96
Realisation per tonne of Raw Coal saw

a sharp increase from H1879/Tonne to Net profit margin
H4841/Tonne, reflecting our focus on
57.02
56.03
operational excellence and ability to

capitalise on market opportunities.
43.65
37.01
2018-19
2019-20
2020-21
2021-22
2022-23
*EBITDA has been calculated by adjusting (adding back) with profit before tax the finance cost,
depreciation/amortisation/impairment, and deducting interest income.
002-115 116-332 333-513
Managing liquidity profile
Debtor turnover ratio Gross sales We place a strong emphasis on

(Number of months) (H in crore) monitoring the liquidity position of
our subsidiaries to ensure seamless
operation of mining activities. In
1,87,456
terms of long-term borrowings, our
1.61
consolidated financials primarily
1,52,603
1,40,603 include term loans acquired by
1,34,979
1,26,786
our subsidiaries, particularly South
1.22
Eastern Coalfields Limited (SECL),

through its subsidiaries Chattisgarh
0.88
East Railway Ltd. (CERL) and

0.78
Chattisgarh East-West Railway Ltd

(CEWRL). These loans are obtained
0.5
from a consortium of banks.
Our standalone equity share

capital is predominantly invested in
subsidiaries. The subsidiaries, in turn,
2018-19
2019-20
2020-21
2021-22
2022-23
2018-19
2019-20
2020-21
2021-22
2022-23
have primarily allocated their equity

share capital towards the acquisition
of long-term assets related to their
mining operations. Our approach
enables us to sustain operational
efficiency and support our long-term
growth objectives.
Net worth Net sales
(H in crore) (H in crore)
Short term goals

1,27,627
57,225
1,00,563
Ensure Making
43,124
92,896
89,373
sufficient adequate funds

82,710
36,500
liquidity available for

32,138
across all the the budgeted

26,436
subsidiaries of CAPEX and

CIL to ensure OPEX
smooth mining
operations
Medium term goals

2018-19
2019-20
2020-21
2021-22
2022-23
2018-19
2019-20
2020-21
2021-22
2022-23
Maximise stakeholder
value and returns by
regularly paying dividend to
shareholders
Return to shareholders Capital allocation framework
Our dividend policy is designed to We have demonstrated a prudent

strike a balance between distributing capital allocation that efficiently
dividends and retaining internal utilises cash flow to fund capital
reserves. Through comprehensive expenditures and ensure returns to
consideration of our business shareholders in the form of dividends.
performance, dividend payout ratio, During the fiscal year, we generated a
business outlook, financial position, net cash flow of H35,686.21 crore from
and other factors, we aim to enhance our operations.
shareholder return and maximise
value while ensuring the long-term Net cash flow generated from
sustainability and growth of our operating activities of CIL
Company. (consolidated) in FY 22-23 is
H35,686.21 crore and it was
In the FY 22-23, we have paid total mainly utilised for incurring capital
interim dividends of H20.25 per expenditure and for payment of
equity share with a face value of dividends.
H10 each, amounting to H12,479.57
crore. Additionally, we will pay a final As a result of our effective capital
dividend of H4 per equity share for the allocation strategy, we also
FY 22-23 in the ensuing AGM, with the experienced growth in our retained
total amounting to H14,944.66 crore. earnings. It increased from H17,451.80
crore in FY 21-22, to H29,938.97 crore
Our value creation for shareholders in FY 22-23. This substantial increase
extend beyond dividend payouts. indicates our ability to generate
We have been implementing various profits and retain a significant portion
strategic initiatives to enhance for reinvestment and future growth
operational efficiency, explore growth opportunities.
opportunities, and optimise cost
structures. These efforts are aimed at
driving sustainable value creation in
the long-term.
EPS Dividend
(in H) (H in crore)
14,944.66
45.70
10,476.64
9,860.40
28.14
28.17
27.12
8,105.58
7,395.27
20.61
2018-19
2019-20
2020-21
2021-22
2022-23
2018-19
2019-20
2020-21
2021-22
2022-23
002-115 116-332 333-513
To effectively manage surplus funds,

we have the Uniform Deposit Policy
Capital allocation framework
that is aligned with the guidelines
of the Department of Public
Operating cash flow
Enterprises (DPE) and the Department
of Investment and Public Asset
01 02 03
Management (DIPAM). It helps deploy
Maintain and Retain cash/ surplus funds following established
Return to
optimise maintain balance principles.
shareholders
operations sheet strength
The general reserve increased
from H17,641.59 crore in FY 21-22,
04
to H18,968.42 crore in FY 22-23.
Strategic allocation of surplus capital It consists of retained profits set
aside for various purposes such as
expansion, capital investment, or
unforeseen contingencies. Increase
in the general reserve reflects our
commitment to strengthen our
Capital Unforeseen
Expansion financial position and ensure stability
investments contingencies
in the face of uncertainty.
Diversification and value

chain integration
We are exploring the acquisition of the opportunity to expand into new For the next fiscal year, we have
lithium, cobalt, and nickel assets sectors, while leveraging the expertise proposed a capital expenditure
abroad and have amended our of our business partners. of H16,600 crore. As part of our
Memorandum of Association (MoA) investment plan, we have strategically
to include non-ferrous and critical Advantages of strategic allocated a substantial amount
minerals. We are currently identifying partnerships towards diversification projects
suitable overseas assets for mergers including ventures such as solar
and acquisitions. Diversification into the fertiliser/ power, thermal power plants, revival
chemical sector helped expand of fertiliser plants, surface coal
Recognising our core competence our reach and promoted the gasification, coal bed methane and
in mining, we have formed joint transition from the coal-to- others. With a focus on acquisitions
ventures (JVs) with companies like chemical sector in the country. and JVs, we seek to venture beyond
National Thermal Power Corporation our core competencies, tap into
(NTPC), Indian Oil Corporation Limited Facilitated knowledge transfer to emerging opportunities and manage
(IOCL), Gas Authority of India Limited CIL subsidiaries and strengthened associated risks effectively.
(GAIL), and Rashtriya Chemicals and collaborations with GAIL and
Fertilisers Limited (RCF) to mitigate IOCL for additional coal-to-
technological and financial risks. chemical initiatives.
Two manufacturing JVs i.e., Hindustan Created new sectors for long-
Urvarak & Rasayan Limited (HURL) term coal supply, contributed to
and Talcher Fertilisers Limited (TFL), the Atmanirbhar Bharat initiative
focus on setting up natural gas-based and promoted Make-in-India
fertiliser-grade urea plants and an programmes to support domestic
integrated coal gasification-based manufacturing and import
urea plant, respectively. It provides us substitution.
Social and
Relationship
Capital
Our commitment to build stronger bonds
with people, communities, regulatory bodies
and various other stakeholders empower
us to bolster a sustainable and responsible
business. We engage in socially relevant
activities, improve lives, contribute to
the upliftment of society and strengthen
mutually beneficial relationships that pave
the path for our long-term success.
002-115 116-332 333-513
What does Coal mining operations have intricate

connections with people and
Social and communities. Stronger bonds between
Relationship the Company and its stakeholders
Capital help forge sustainable relationships
that bolster the foundation of our
mean to us? people-centric approach.
How
Social and By forging strong relationships
and periodically engaging with our
Relationship stakeholders, we are able to craft
Capital targeted initiatives that generate
supports our mutual benefits. A collaborative
environment enables us to gain
value-creation? valuable insights and incorporate
diverse perspectives into our decision-
making processes.
Engagement with communities
We prioritise the well-being of

586.50 crore Inclusion of vulnerable stakeholder
groups
In collaboration with local

communities in which we operate. Total CSR expenditure
By addressing their concerns and communities, NGOs, and government
engaging in mutually beneficial agencies, Coal India has implemented
programmes for ensuring community
development, we strive to positively
impact the lives of people and
204.45 crore several projects that specifically
designed to cater to the needs of
the marginalised sections of society.
Spent on healthcare, nutrition We believe that by empowering and
contribute to their prosperity and well-
and sanitation promoting their participation in the
being. We believe that co-existence
with local communities in a mutually overall development process, we can
9.40 crore
beneficial manner is the key to contribute to a more equitable and
sustainable and responsible business inclusive society. Through vocational
practice. training, scholarships, and educational
Spent on Thalassemia Bal Sewa support, we aim to uplift the quality of
We prioritise education, provide Yojana life of marginalised communities and
scholarships, vocational training, bridge the social and economic divide.
and construct schools to empower
individuals and improve future
prospects. We are also dedicated to
women’s empowerment, promote
143.69 crore Assessing community needs
We have established an efficient

Spent on education and
entrepreneurship opportunities and engagement mechanism that
livelihood
create awareness about women’s focuses on meaningful interactions
rights. Additionally, we focus on and understanding the specific
the upliftment of marginalised needs of local communities. With
sections of society through livelihood the involvement of officers from the
opportunities, healthcare facilities and Community Development cadre,
socially inclusive initiatives. who interact with residents and
their representatives to assess
their needs, different types of
projects are undertaken. Coal
India also collaborates with public
representatives and government
agencies, to ensure alignment of
projects with local development
plans. We implement CSR activities
in cognisance of the social fabric of
local customs and traditions. It not
only fosters continuous dialogue with
stakeholders, but also helps earn the
trust of local communities.
180+
Community development cadre
002-115 116-332 333-513
Resettlement and Contribution to local

rehabilitation economy
We undertake comprehensive
rehabilitation efforts through our
CSR projects for people who have
We believe in fostering economic
well-being of communities in which
we operate by empowering the local
11,816
been displaced due to our mining workforce through skill development People imparted with livelihood
operations. In adherence to regulatory and creating sustainable livelihood enhancement training
guidelines, we develop comprehensive opportunities.
five-year rehabilitation plans. It entails
well-defined targets, monitoring
protocols, effective maintenance Initiatives for social upliftment
strategies, and comprehensive
management programmes that are
aimed at ensuring the successful
Education projects to improve Construction projects employing
relinquishment of coal mining projects.
literacy and learning outcomes locals
Through fair compensation,
infrastructure development,
livelihood restoration and focus
Healthcare initiatives to improve Community development
on broader socioeconomic needs,
health and minimise expenses initiatives to enhance living
we support displaced families. With
standards, enable higher
targeted interventions for education,
productivity and create
healthcare, community development,
employment opportunities
and environmental sustainability,
we strive to empower communities,
promote sustainable development,
Vocational training programmes Livelihood projects to create
and improve the quality of life of
focused on high-employment- economic opportunities through
people in affected areas.
potential development of poultry units,
handicrafts and backyard farming
2,274 Creation of skill development infrastructure in the form of Industrial

People rehabilitated
Training Institutes (ITIs) to equip the local workforce with necessary skills
Grievance redressal
We have established effective

grievance redressal mechanisms
in the presence of Community
a collaborative manner. Grievances
are received through traditional
channels and the Centralised Public
50+
Development cadre officers, who Grievance Redress and Monitoring Community grievances
act as intermediaries, facilitating System (CPGRAMS) portal, ensuring resolved
discussions and resolutions transparency and efficient tracking
between aggrieved parties. We of complaints. Prompt action is also
also maintain a strong relationship undertaken to address grievances,
with public representatives to with regular updates provided to the
address community concerns in communities.
Community empowerment
programmes
Healthcare Additionally, we undertook the

improvement of the National Cancer
Hospital in Nagpur to ensure
“We are overwhelmed
We have undertaken several initiatives
better care for cancer patients. In with joy knowing that
to improve access to healthcare
collaboration with the government, our daughter will no
services. In collaboration with the
Ministry of Health, 11 hospitals, and
we installed oxygen plants in West longer have to endure
Thalassemics India, we had launched
Bengal’s government hospitals. Further, the monthly pain of
we supported the purchase of a needle pricks for
‘Thalassemia Bal Sewa Yojana
digital mammography machine at Tata
(TBSY).’ This initiative provides up to
Medical Centre in Kolkata to improve
transfusions. Coal
H10 lakh of financial assistance for
breast cancer screening and detection. India Limited and the
bone marrow transplants, benefiting
We also procured gym equipment for Ministry of Health
underprivileged patients. We
successfully concluded the second
several Gram Panchayats in Himachal and Family Welfare,
phase of the Thalassemia Bal Sewa
Pradesh to promote a healthy lifestyle. Government of India,
Yojana (TBSY) during the fiscal year, have been like angels
making necessary provisions for in our lives, bringing
the treatment and management of us hope and relief.”
Thalassemia and Aplastic anaemia.
350+
- Father of Elisa Arora
(one of the beneficiaries
of TBSY)
Beneficiaries of TBSY so far
002-115 116-332 333-513
Education
“As a student hailing
Our efforts are aimed at offering from a remote village,
educational opportunities and
I struggled to access
transforming lives. We have
constructed a state-of-the-art
quality education.
hostel at Vidya Bharti School in However, thanks
Hoshangabad, Madhya Pradesh, to to this initiative, I
provide students with a conducive not only secured
learning environment. Additionally, admission in NIT,
we have improved the infrastructure
Jamshedpur, but
of Bhakti Vedanta National School in
Mayapur, West Bengal, to enhance
also emerged as a
its capacity to accommodate more successful software
students. Our ongoing efforts include developer at Zomato,
the construction of a hostel in Joka, with an annual
Kolkata, specifically designed to package of J40 lakh.
accommodate 1,000 underprivileged
‘CCL ke Laal’ has
and tribal students, providing them
with access to quality education.
changed my life,
empowering me to
We have installed smart classrooms reach heights I never
in government schools in Korba, thought possible.”
Raigarh (Chhattisgarh), and Umaria
(Madhya Pradesh), ensuring quality
education, improved learning - Vivek Kumar Mehta
outcomes, and reduced dropout (Beneficiary, 2015-17
rates. Further we have repaired and batch)
distributed computers in charitable
and government schools to support
digital literacy programmes and bridge
the digital divide.
780+
Smart classrooms set up
300+
Computers distributed
Moreover, through our programe

called ‘CCL ke Laal’ and ‘CCL ki
Laadli,’ we offer free coaching for
engineering entrance examinations to
meritorious underprivileged students.
Rural development Additionally, we supported the commissioning of a sewage treatment plant in

Mayapur, West Bengal, using green soil bio-technology to improve sanitation
facilities and improve sustainable practices. These initiatives demonstrate our
We have undertaken several
commitment to socioeconomic development, sustainable infrastructure, and
initiatives to uplift communities
community welfare in rural India.
and enhance infrastructure in rural
areas. Construction of a border
road in Chamoli, Uttarakhand, for
instance, has improved connectivity
to this region. Our Comprehensive
Community Development Programme
(CCDP)- Utthan focuses on uplifting
households in MCL’s command areas
through livestock development, agro-
horti-forestry, improved agriculture,
and water resource development.
7,000
Households benefitted from CCDP
Utthan Project
40
Villages benefitted from the project
Livelihood opportunities
We have partnered with NCL to empower tribal women in Singrauli, Madhya

Pradesh, through a small holder poultry project. This initiative involves
constructing poultry sheds, providing training and capital support, and forming
750
Self Help Groups (SHGs). Tribal women benefitted
We have also established a product

training centre for women in
Murshidabad, West Bengal, to enhance
skill development and employability.
The ‘Bharat Ke Kaladharmi’ project
supports performing artists affected
by COVID-19 by providing financial
assistance, training and promotional
opportunities. Additionally, we focus on
women empowerment, by emphasising
the importance of legal marriage and
offering skill development training to
women living in Dhuku tradition in
Khunti, Jharkhand. It aims to improve
their socioeconomic well-being.
002-115 116-332 333-513
MCL received an honourable

mention in the
'Women and Child

Development'
sub-category under the 'CSR Award for
contribution in National Priority Areas'
CCL won the

CIL consistently ranks
among the
'Promotion
Recognition of Sports'
top 10 for our CSR sub-category award
companies in India for efforts under the 'CSR Award for
CSR spending contribution in National
Priority Areas'
MCL received the

'Agriculture
and Rural
Development'
sub-category award for 'CSR Award for
contribution in National Priority Areas'
Engagement with customers
We recognise the importance of Open channels of communication Grievance Redressal Committees

engaging with our customers and
strive to maintain clear channels Customers also have the option to To ensure timely resolution of
of communication through regular communicate with CIL via emails consumer grievances, dedicated
interactions. It aims to ensure or letters, through which they can ‘Consumer Grievance Redressal
customer satisfaction and efficiently provide feedback, suggestions, or Committees’ have been established.
address grievances. raise concerns. To address customer They play a vital role in addressing
complaints and suggestions, we consumer grievances related to refund
have established a robust grievance of earnest money, security deposit,
Transparency of information
redressal system. We also maintain coal value, release of bank guarantee,
registers for customers to report and other relevant matters. It also
We regularly communicate with
grievances related to the quality of coal expedites evaluation and grievance
customers through the publication of
loaded in the rakes. This promotes resolution.
relevant information on our website
transparency and accountability in
and the websites of auction service
addressing quality concerns.
providers. This enables customers Addressing consumer concerns
to access up-to-date information We also organise conferences to
regarding coal availability, pricing, interact with customers on a regular Consumers can email their concerns
and other related details. Additionally, basis. The insight gained from such to grahaksamadhan@coalindia.in. A
digital media platforms are utilised to interactions are utilised to improve fortnightly review is done through a
disseminate information and important service delivery and address gaps or digital dashboard to ensure timely
updates to customers. issues identified. resolution of consumer grievances.
When assessing consumer grievances,
we examine each case individually
and seek input from relevant entities
to ensure consumer satisfaction.
002-115 116-332 333-513
Engagement with Ensuring accountability

government and regulatory
bodies We recognise the importance of environmental and labour regulations
transparency and accountability and progress of CSR initiatives.
Engagement with government and in our operations and therefore, Regular communication and relevant
regulatory bodies plays a pivotal provide periodic reports to regulatory information sharing with the regulatory
role in promoting good governance agencies. It furnishes information on bodies enable us to efficiently adhere
and sustainable development of the a wide range of aspects including to legal and ethical standards.
Company. Through collaborative financial performance, compliance with
efforts, we aim to contribute to
the socio-economic growth of the
nation, while fulfilling our obligation
as a responsible corporate citizen. It
also helps us navigate the complex
regulatory landscape, align our
CSR initiatives with government
schemes, and ensure transparent and
responsible operations.
We maintain a strong relationship

with government agencies to
ensure coordinated CSR efforts that
complement existing government
schemes and address pertinent
community concerns. In addition, we
engage with government agencies on
various matters related to coal mining,
environmental regulations and labour
welfare. We also work in alignment
with the policies and guidelines set by
regulatory bodies such as the Ministry
of Corporate Affairs (MCA) and the
Department of Public Enterprises
(DPE).
Investor engagement To guarantee transparent and

timely dissemination of financial
Through regular disclosures, information, we publish annual and
we ensure transparency of our quarterly results within stipulated
operations. It also enables us to timelines. We also conduct regular
comply with stringent regulatory meetings for investors and analysts
guidelines prescribed by the Ministry to foster interactive dialogues and
of Corporate Affairs (MCA) and the discussion. These sessions also
Securities and Exchange Board of serve to address queries or concerns
India (SEBI). raised by investors. By proactively
resolving queries and providing
timely information, we nurture and
strengthen relationships with the
investor community.
Manufactured
Capital
The strength of our mining assets allows

us to successfully meet the growing
energy needs of the nation. With greater
focus on sustainable mining practices and
operational excellence, we are optimising
coal production and enhancing the supply
of superior grades of coal for diverse
requirements.
002-115 116-332 333-513
What does Our Manufactured Capital extends

beyond our mining assets and
Manufactured encompasses capital expenditure
Capital for technological advancement,
mean to us? operational excellence and sustainable
mining practices, aimed at optimising
coal extraction processes and
delivering value to our stakeholders.
How With a continuous focus on adding

Manufactured efficiency to mining operations and
optimising resource utilisation,
Capital
we are improving the mining
supports our infrastructure, utilising technologically
value-creation? advanced equipment and diversifying
the mining asset portfolio to cater to
the energy needs of the nation.
Coal production
Coal is one of the primary resources industrial consumers, and other users
703.20 million tonnes
for meeting the energy demands helps us gauge demand patterns and Highest coal production
of India. We work closely with devise production strategies. Focusing achieved since inception
the Ministry of Coal and other on sustainable mining practices and
273.60 rakes/day
stakeholders to assess the country’s environmental concerns, we seek to
energy requirements and accordingly, optimise operations to ensure cost-
set production targets. Regular effectiveness as well as profitability.
coordination with power plants,
Daily average rail loading

Coal off-take

Coal despatched to the power
sector

Coal allocated under e-auction
Factors impacting coal production
01 02 03 04 05
Statutory Acquisition and Resettlement Procurement and Development

clearances for possession of land and rehabilitation maintenance of of evacuation
mining and for mining (R&R) of affected mining equipment infrastructure,
production communities including coal
transportation
systems
06 07 08 09 10
Alignment of Consideration Analysis of Balancing Managing

production for government demand for coal environmental and production despite
capacity with policies with a social concerns external challenges
National Energy direct impact on associated with
Targets the sector natural and social
factors
002-115 116-332 333-513
Consistently enhancing production Improving capacity utilisation Scaling up operations
During the reporting year, we achieved We have surpassed our 85% To further expand operations, we
an impressive 703.20 million metric capacity utilisation mark to report have made significant strides in land
tonnes (MT) of coal production, an astounding 85.80% capacity acquisition. During FY 22-23, we took
representing a substantial increase utilisation rate in FY2023. Moreover, possession of 2090.25 hectares of land
of 80.57 MT or 12.94% compared to we have efficiently handled a total through our subsidiaries. It enabled us
the 622.63 MT in the last fiscal year. volume of approximately 2,079 million to successfully expand our operations
This exceptional growth is a testament cubic metres (M. Cum) of coal and and ensure reliable supply of coal.
to our relentless efforts to enhance overburden during the year.
operational efficiency, optimise our In FY 23-24, we have set our
mining processes and implement Notably, our underground mining sights on procuring high-capacity
strategic measures to streamline our operations achieved an outstanding equipment worth over H2200 crore.
operations and maximise productivity. capacity utilisation rate of 90.06%, This investment is aimed at achieving
while our open-cast mining operations higher coal production targets in the
reported capacity utilisation of 85.77%. years ahead. We persistently explore
untapped coal reserves, adopt
Coal production Despatches of coal advanced mining technologies and
(MT) (MT) optimise operational efficiencies to
further unlock our potential for coal
production.
703.20
695
622.63
606.89
602.14
596.22
662
Capex investments
608
582
574
(H crore)
18,619.27
15,400.96
13,283.83
73,11.46
6,269.6
2018-19
2019-20
2020-21
2021-22
2022-23
2018-19
2019-20
2020-21
2021-22
2022-23
2018-19
2019-20
2020-21
2021-22
2022-23
One Billion
Coal Production Roadmap
CIL, supplying over 80% of the domestic coal, plays a pivotal role in meeting the country’s energy
demands and shaping the future of domestic energy consumption. As a major supplier of indigenous
coal in the country, we have set a production target of 1 billion tonnes (BT) by FY 25-26, in line with
our aspirations to meet the growing demand for coal in India.
Production projection for the

next 5 years (Figs. In MT)
1,055
1,030
1,000
850
780
Skill
development
Capacity initiatives for
Planning and addition the workforce
Projection
AP Target
implementation through the to enhance

of high- exploitation of competency
capacity mines marginal Open
using Mass Cast (OC)
Production patches
2023-24
2024-25
2025-26
2026-27
2027-28
Technology
and high-
capacity Heavy Incorporation
Earth Moving of state-of-
Machinery the-art mining
(HEMM) technologies
Improvement to optimise
of evacuation production
Deployment efficiency processes and
of Mine and capacity improve safety
Development through rapid standards
Obtaining
Operators implementation
approvals
(MDOs) in of First Mile
for new and
greenfield and Connectivity
capacity
brownfield (FMC) projects
expansion
areas and rail lines.
projects
Obtaining
additional
Rapid environmental
exploration clearances
activities (ECs) of up to
to unearth 50% through
additional coal special
reserves dispensation
We have undertaken a slew of

measures for enhancing coal
production and accomplishing our
production targets.
002-115 116-332 333-513
Exploration and Mine planning and Adoption of technologically

assessment development advanced equipment
We conduct extensive exploration We undertake mine planning and Digital mine planning techniques
and assessment activities to identify development activities based on are used to determine production
potential coal-bearing areas in exploration data, to determine capacity, market demand, and
India. Geological surveys, drilling the optimal extraction method, geological adequacy.
operations, and sampling techniques mine design and infrastructure
Adoption of digital tools like
are employed to gather data on the development. This includes analysis of
Minex, Surpack, MineSched, and
quality and quantity of coal reserves. geological data, selection of suitable
MineScape to improve process
Expert geologists conduct surveys to areas for mining, and design of access
visibility and efficiency.
identify prospective areas, followed roads, ventilation systems, and other
by drilling operations to extract core necessary facilities.
samples for analysis. The samples are
tested in laboratories to determine
core properties of the coal extracted
from these areas. The data is further Extraction Use of modern equipment
analysed to estimate coal reserves
and generate three-dimensional We employ opencast mining Utilising state-of-the-art high-
geological models. for shallow coal deposits and capacity Heavy Earth Moving
underground mining for deeper Machinery (HEMM) in opencast
Adoption of modern equipment and thicker seams. Our priority mines. It comprises dumpers,
is to optimise coal production shovels, and surface miners.
Implementation of seismic survey by adopting mechanisation, Dumpers are used for the
technology to cover larger areas, technology, and innovation to transportation of overburden
reduce the number of boreholes enhance productivity and ensure (soil and rock layers), while
required for mining and expedite worker safety. We also have shovels are used to remove the
exploration activities. long-term service contracts for overburden and expose the coal
the procurement of equipment seam.
Utilisation of software and and spare parts. Our focus on
improved 2D/3D models to Adoption of Mass Production
standardisation, modernisation,
enhance the quality of geological Technologies (MPT), with a
and digital transformation of
reports and reduce manual primary focus on Continuous
equipment and mines enable
intervention. Miners (CMs), wherever feasible.
us to add efficiency to our coal
extraction processes. Exploring Powered Support
Adoption of remote sensing and
Longwall (PSLW) equipment,

GIS technology for land resource
a mechanised production
mapping and monitoring.
technique that aims to
optimise coal extraction from
Coal production from open cast underground mines.
mines
Use of digitally advanced
machinery to enhance
25.487 million tonnes operational efficiency.
Use of drone-based
photogrammetry for efficient and
Coal production from
accurate data collection, survey
underground mines
and measurement of mines and
stockpiles.
4,689
HEMM equipment
Overburden management Coal processing and washing
We manage overburden through We also engage in coal beneficiation, the removal of impurities and enhance
controlled blasting and careful a process that involves removing coal quality. The processed coal is
stripping. The waste material is impurities and improving the quality then categorised based on its quality
removed for accessing the coal of coal. The process includes and size.
seams, minimising its environmental crushing, screening, and washing
impact and ensuring worker safety.
Forensic investigations are conducted
to address geotechnical challenges
coal to separate it from undesirable
substances like rock and ash.
Software-based coal processing
2.155 MT
and stabilise expansive foundation techniques are employed to optimise Total washed coal production
soil. Suitable ground improvement
technologies are also implemented
to sustain and enhance the optimum
height of overburden dumps. To
prevent surface water contamination,
we construct sedimentation ponds
Coking coal Non-coking coal Total
and implement water management
systems. Additionally, we implement
progressive reclamation techniques
such as re-vegetation and land
11 2 13
rehabilitation to restore the mined-out Coal
areas and promote ecological balance. washeries
1,658.627 Operable
washing
capacity
13.94
MTY
11
MTY
24.94
MTY
million cubic metres

Overburden removal
Use of modern equipment
Blast-free mining techniques

involving the use of advanced
equipment such as vertical rippers
and surface miners.
Installation of sand segregation

plants to separate sand from
the overburden material. The
extracted sand can also be
utilised for other purposes.
002-115 116-332 333-513
Quality assurance The following technologically advanced methods are also used to
meet quality standards:
We aim to ensure the delivery of
high-quality coal to our customers
and therefore, follow stringent quality
Mobile crushers are installed at coal Electronic weighbridges with
control measures from mining to
handling plants to meet increased printout facilities have been
dispatch of coal.
crushing requirements. installed at rail loading points to
ensure proper weighing of coal
70% Surface miners are utilised to

maximise the production of -
100 mm coal, and its quality is
before its dispatch. Standby
weighbridges are also being
installed for 100% weighment
Grade conformity improvement
carefully monitored. assurance.
57 Various measures are undertaken to

improve coal quality, including
the picking of shale/stone, adoption
Some subsidiary coal companies
employ Auto Mechanical
Samplers (AMS) at Silo loading
NABL accredited laboratories of selective mining processes, points for coal sampling, eliminating
proper blasting procedures, and human intervention.
improvement of coal sizing.
Quality control measures
Installation of online analysers at
Area laboratories are equipped with MCL and NCL as a pilot project
In collaboration with coal companies
Bomb Calorimeters for accurate aims to assess the feasibility
and the power sector, the Central
measurement of Gross of monitoring coal quality at
Institute for Mining and Fuel Research
Calorific Value (GCV) of coal dispatch points.
(CIMFR), an institution under the
samples.
Council of Scientific and Industrial
Research (CSIR), has been engaged
to conduct sampling and testing of
coal at the loading point. This helps
ensure the quality of coal supplied to
customers. A tripartite Memorandum
of Understanding (MoU) is also
signed between the coal supplier, the
purchaser (power utilities), and CIMFR
to establish a clear framework for the
sampling and testing process.
In addition to CIMFR, other reputed

third-party agencies such as Quality
Council of India (QCI) and M/s SGS
India Private Ltd, which cater to both
power and non-power sectors, as well
as M/s Mitra S K Pvt. Ltd., serving the
power sector, have been empanelled
to assure the quality of coal. These
independent agencies offer their
services to consumers for assessing
the quality of coal.
Coal transportation and

logistics
The FMC projects are expected to enable
mechanised evacuation from
151 MTPA to 914.50 MTPA
We have an extensive network of
transportation infrastructure to
facilitate the movement of coal
from mines to various destinations. by FY 28-29.
This network comprises a range of
infrastructure, including railway lines,
conveyor belts, trucks, and other
transportation modes. The objective is FMC projects involve the installation of piped conveyor belts to move coal
to efficiently transport coal to power from pitheads to loading points, where a rapid loading system is employed
plants, industrial units, and other to load coal into railway rakes. By eliminating the need for road movement
consumers. of coal and integrating rapid loading systems, we have achieved several
benefits. These include
Despatch by
Improved loading Reduced Increased supply

efficiency turnaround time chain reliability
Reduced dust Enhanced safety Savings in under-

pollution standards loading charges
Rail - 53%
Road - 31%
Merry-go-rounds - 14%
61 763.5 MTPA
Projects have been identified for Capacity commissioned for
Belt & Rope - 2% implementation in three phases FMC projects
First Mile Connectivity
One of the significant initiatives

undertaken by us is the First Mile
Connectivity (FMC) project. The
primary goal of this project is to
improve the lives of people residing
in coal mining areas, by addressing
issues such as traffic congestion,
road accidents, environmental impact,
and health hazards associated with
coal transportation. The project
achieves this by employing alternative
transportation methods, such as
mechanised conveyor systems and
computerised loading into railway
rakes.
002-115 116-332 333-513
Rail infrastructure The commissioning of Tori- loading bulbs at Barpali and a

Shivpur New BG double line flyover complex at Jharsuguda,
To ensure efficiency in the coal (44.37 km) will increase the coal will enhance the evacuation
evacuation system, we have evacuation capacity from the capacity by about 65 MTPA.
developed an action plan to enhance North Karanpura coalfield of CCL
and strengthen the infrastructure. by approximately 100 MTPA. The rail connectivity between
This plan includes the identification of Lingaraj SILO and Deulbeda
seven railway projects dedicated to Construction is in progress for siding at Talcher Coalfields
coal evacuation. In recent years, we the doubling of the Jharsuguda- of MCL (4.8 km) has been
have significantly expanded our rail Barpali-Sardegna New BG single successfully commissioned,
portfolio, making it a preferred mode line (52.41 km). This project, enabling the evacuation of
of transport for coal transportation. along with the construction of approximately 5 MTPA.
Responsible mining All HEMM contracts incorporate Focus on underground mining

practices necessary safety features in expansion to minimise surface
line with guidelines formulated disturbance and preservation of
We consider sustainability as a by the Directorate General of ecological balance.
paramount concern in our mining Mines Safety (DGMS), to ensure
operations, where we emphasise a safe and comfortable working Investment in clean coal
selective mining, beneficiation, and environment. technologies to reduce emissions
blending techniques to achieve and minimise environmental
optimal extraction and mitigate Remote sensing technology pollution.
environmental impacts. Alongside, is used to monitor land use
and implement effective land Introduction of digital
we also intend to use advanced
management practices. environmental compliance
technologies to meet stringent
tools for real-time monitoring
environmental standards.
Surface miners, fog cannons, and proactive environmental
Standardised machine and road sweeping machines are management.
combinations and increased deployed to reduce dust and air
deployment of hydraulic machines pollution.
improve mobility, productivity, and
reduce emissions.
Natural
Capital
As an organisation performing environment

intensive activities, we realise the immense
impact of mining on the planet. To consciously
limit our ecological footprint, we remain
determined to minimise adverse effects,
create awareness and adopt sustainable
practices to responsibly fulfil the country’s
energy demands.
002-115 116-332 333-513
What does It encompasses the invaluable natural

resources used at various stages of
Natural the mining process. Consisting of
Capital both renewable and non-renewable
mean to us? resources, the entire mining life cycle
is strongly influenced by our
Natural Capital.
How We recognise the intrinsic value of

Natural Natural Capital in supporting our
value-creation goals. Therefore,
Capital
we prioritise its preservation as a
supports our vital business imperative. Following
value-creation? a strategic approach to ensure
energy efficiency, use of sustainable
technology, and water management,
we minimise our ecological impact. We
engage in bio-reclamation, waste and
effluent management, noise control,
air emission management, and eco-
restoration to conduct responsible
mining practices.
Energy conservation
As a global leader in coal production,

4,598.78 million units Renewable energy adoption
By adopting renewable energy

sources, we aim to reduce our carbon
we are setting an example for Energy consumption
the mining industry by employing footprint and promote sustainable
responsible practices. Through the practices within the coal mining
adoption of advanced technologies, industry. We have taken significant
efficient resource utilisation and steps to install ground and roof-
integration of renewable energy into mounted solar power plants in various
our projects, we are making significant command areas.
strides to conserve energy. These
measures not only contribute to our
Increasing solar power capacity
sustainability goals, but also empower
us to align with India’s vision of In FY 22-23, we added an additional
creating a cleaner and greener energy rooftop solar capacity of 3.393 MWp.
sector. This signifies our commitment to
harnessing solar energy and reducing
reliance on traditional power sources.
The installation of these rooftop solar
plants not only contributes to reducing
carbon emissions, but also helps meet
the energy needs of CIL’s operations.
Further, we have also awarded

contracts for the installation of 300
MW of ground-mounted solar plants.
The installation work is currently
in progress and is expected to be
commissioned by FY 23-24.
11,217.7 kWp
Solar power capacity
68,36,317 KwH
Total solar energy generated
5,606 tonnes
Reduction in CO2 emissions per
annum
002-115 116-332 333-513
Energy efficiency measures
LED lights Electric vehicles Auto timers in street lights
Replaced high wattage lights and Deployed electric vehicles (e-vehicles) Automatic timers have been installed
conventional light fittings with energy as part of our transportation fleet. By in street lights at various locations.
efficient LED lights for quarries, transitioning from conventional fuel- These timers control the lighting
underground mines, street lights, powered vehicles to e-vehicles, we duration and keep street lights on,
offices, and townships. This transition aim to reduce carbon emissions and only when required.
to LEDs has resulted in significant promote clean energy usage.
energy savings.
71 1,016
1,57,216 E-vehicles deployed
Auto timers have been installed
LED lights installed
Power factor improvement

Energy efficient water
Energy efficient air heaters
Capacitor banks of appropriate KVAR
conditioners
These water heaters have been (Kilovolt-Ampere Reactive) rating
Energy-efficient air conditioners installed at different facilities and have been installed across subsidiary
have been installed at the offices of are designed to minimise electricity companies to improve the power
different subsidiaries of CIL. These consumption. factor. By maintaining power factors
ACs are designed to consume less between 0.90 to 0.99, we ensure
electricity while providing effective
cooling. 625 efficient utilisation of electrical power
and reduce wastage.
1,679 Energy efficient water heaters

installed
54,690
Energy efficient ACs KVAR of capacitor banks have
replaced / installed been procured and installed
Energy efficient motors
Replaced old motors with energy-

Super fans efficient motors across our operations.
This upgrade helps reduce energy
Energy-efficient fans have been loss and improves overall operational
installed in various locations to efficiency.
minimise power consumption.
18,626 169
Old motors replaced with
Energy efficient super fans energy efficient motors
installed
Outcomes of energy
efficiency measures
52.10 million units 42,725 tonnes
Electrical energy saved of CO2 emission reduced per
annum
Pollution abatement We have also deployed additional repairing of coal transportation

Surface Miners and Continuous roads, strengthening of haul roads,
We are committed to reducing Miners in open-cast and underground and development of windbreaks and
pollution and encouraging sustainable mines, respectively, to enable vertical greenery systems.
mining practices, across the lifecycle blasting-free coal extraction and
of mines, from its planning to closure. reduce air pollution caused by
Noise pollution control measures
We aim to maintain acceptable limits traditional blasting methods.
of all major environmental attributes We have implemented measures to
including air, water, hydrogeology, Reducing air pollution from control noise pollution, including proper
ground vibrations, noise and land. transportation maintenance of equipment to reduce
noise. Development of green belts and
To limit air pollution during the
Air pollution control measures transportation process, we have
residential areas around the mines help
create a natural sound barrier. Further,
implemented mist spraying systems,
Air pollution is a significant concern blasting is scheduled during daytime
mobile water sprinklers, fog canons,
for coal mining. We have undertaken to minimise disturbance at other times.
and automatic sprinklers. We have
various measures to control and Additionally, employees working in noisy
also introduced several important
reduce dust generation during areas are provided with ear muffs or
initiatives to address air pollution,
drilling, blasting, loading, and coal earplugs to protect them and to reduce
including the implementation of First
transportation. These initiatives their exposure to excessive noise.
Mile Connectivity to reduce coal
are outlined in the Environmental
transport by road. Transportation of
Management Plan (EMP), approved
coal is carried out through conveyors,
by the Ministry of Environment, Forest
covered trucks, and loading in railway
and Climate Change (MoEF&CC) for
rakes through silos, which helps
each project. The EMP takes into
minimise air pollution. Additionally,
account environmental impact and
we focus on blacktopping and
conducts an Environmental Impact
Assessment (EIA) study.
002-115 116-332 333-513
Mine water management Mine water treatment Mine water remediation

infrastructure
We strive to minimise the impact We have implemented various
of our mining operations on water Effluent treatment facilities, such as measures to treat and reuse effluents
resources and ecosystems by oil and grease traps, sedimentation generated from mines, workshops,
implementing various initiatives for the ponds, and storage facilities for and coal handling plants. One of
treatment, utilisation, and conservation treated water, have been established the key components of mine water
of discharged mine water. across all major projects. These management is the installation of
facilities effectively treat and remove Mine Discharge Treatment Plants
Regular evaluation of mine water contaminants from the effluents before (MDTPs) within the mines. These
parameters discharge or reuse. This helps prevent plants are responsible for treating
water pollution and maintain the the discharged mine water on the
To assess the potential impact of quality of water bodies in the vicinity surface through a second-phase
mining activities on groundwater, of the mining operations. We have also treatment process. Once treated,
we conduct regular monitoring of adopted closed water re-circulation the mine water is utilised for multiple
groundwater levels in and around the system in our washeries to achieve purposes, including dust suppression,
mine lease hold area. This monitoring zero discharge of effluent outside our fire-fighting, plantation, and washing
helps understand any potential premises. activities within the mine.
changes and take appropriate
Additionally, we have also set up Moreover, considering the needs of
measures to ensure sustainable
domestic sewage treatment plants the local community, a portion of
groundwater management.
to treat effluents generated from the treated mine water is supplied
In line with environmental regulations, residential areas near mining zones. to nearby villages for drinking and
we also conduct regular monitoring It plays a crucial role in ensuring irrigation purposes. This demonstrates
of mine, workshop, and domestic compliance with environmental our commitment to supporting local
effluents to ensure compliance with regulations. communities by providing access to
prescribed standards. Reports of the clean water.
monitoring activities are submitted
92.45%
regularly to State Pollution Control
Boards (SPCBs) and the Ministry
of Environment, Forest and Climate
Change (MoEF&CC) to maintain Discharged mine water utilised
transparency and accountability. within mines and by local
communities
837
Villages used discharged mine
water
11.10 lakh
Villagers benefitted
Rejuvenating groundwater
sources
We also undertake initiatives for groundwater recharge both within the mine and
in nearby villages. These initiatives include rainwater harvesting, excavation of
ponds, development of lagoons, and desilting of existing ponds and tanks. Such
7.55%
measures aim to replenish groundwater resources and promote a balanced water Water retained for future use
cycle in the region. and groundwater recharging
Enhancing
riverine ecosystem
We are also mitigating the environmental impact of sand mining through the implementation of innovative sand
plants. These advanced facilities effectively separate sand from overburden, resulting in significant improvements
to the riverine ecosystem, groundwater recharge potential, and overall water quality.
002-115 116-332 333-513
Land reclamation
We are dedicated to implementing At CIL, we strictly adhere to approved

comprehensive land reclamation Environmental Management Plans (EMPs)
measures to address the and Mine Closure Plans (MCPs) sanctioned
environmental impact of mining. by the Ministry of Environment, Forest and
We prioritise the preservation and Climate Change (MoEF&CC). These plans
utilisation of topsoil, to use it in provide a framework for the systematic
plantation areas within our opencast reclamation of mined-out areas. We carry
mines. Our goal is to efficiently reclaim out reclamation activities in accordance
mined-out areas and rehabilitate it for with these plans, ensuring compliance with
productive land use. environmental regulations and standards.
Reclamation planning
Comprehensive plans are
developed before mining to
outline the steps for land
restoration post-mining.
Monitoring and
maintenance Environmental Impact
Assessment (EIA)
Post-reclamation monitoring
programmes assess A pre-mining assessment
effectiveness and ongoing is conducted to evaluate
maintenance activities ensure environmental impacts
long-term sustainability and determine necessary
through weed control, erosion restoration measures.
prevention, and vegetation
management.
Approach to
restoration
Water management
Topsoil preservation
Measures like sedimentation
The nutrient-rich topsoil is
ponds, diversions, and
carefully stored and later
channels are implemented
spread over reclaimed land to
to manage water runoff,
support vegetation recovery.
control erosion, and restore
aquatic habitats.
Grading and reshaping

Land is reshaped to restore
natural contours or create suitable
landforms, preventing erosion and
facilitating drainage.
Post-mining site rehabilitation Enhancing ecological balance numerous mined-out areas. These
eco-parks serve as green spaces that
As part of our commitment to adopting We place a strong emphasis on eco- not only beautify the landscape, but
responsible mining practices, we have restoration to ensure the sustainable also provide recreational opportunities
developed Mine Closure Plans (MCPs) reclamation of disturbed land. We for the local communities.
in collaboration with the Central Mine conduct scientific studies to identify
Planning and Design Institute Limited suitable plant species for afforestation, Notable examples include:
(CMPDI). These MCPs are an integral enabling us to restore the ecological
Madhuvan Vatika in Eastern
part of our Project Reports and are balance of reclaimed areas.
Coalfields Limited (ECL)
also included in the Environmental
Impact Assessment (EIA) and EMP, Through strategic collaborations
Govardhan Eco-Park in Bharat
which receive approval from the with Indian scientific institutions
Coking Coal Limited (BCCL)
MoEF&CC. In FY 22-23, we allocated such as Forest Research Institute
a substantial amount of H91.28 crore (FRI), Indian Council of Forestry Bishrampur Tourism Site in South
from the escrow fund to support mine Research and Education (ICFRE) and Eastern Coalfields Limited (SECL)
closure activities. National Environmental Engineering
30
Research Institute (NEERI), we
engage in extensive scientific studies
Evaluating the impact of
and receive expert assistance in
reclamation measures
the development of eco-restoration Eco-parks, mine tourism and
sites. These initiatives focus on eco-restoration sites
To effectively monitor our land
implementing three-tier plantations
reclamation and restoration
using native species, thereby
8
operations, we employ high-resolution
transforming the mining areas.
satellite data. This technology enables
us to closely track the progress To showcase our commitment to
of reclamation efforts and make environmental stewardship, we New eco-parks set up in
necessary adjustments when needed. have also established eco-parks in FY 22-23
Additionally, we conduct vegetation

cover mapping of major coalfields
every three years, utilising satellite Plantation target
data. This mapping helps us assess
the growth and development of
vegetation in the reclaimed areas.
6,800 Ha in the five-year-period from FY 21-22 to FY 25-26
110
Land reclamation projects being
monitored
19
Coalfields mapped for
vegetation cover
002-115 116-332 333-513
Reforestation initiatives Plantation in mine leasehold area
We prioritise tree plantation efforts in

Saplings Hectares
and around mining areas to mitigate
the impact of mining operations. By
31,01,302
30,42,000
1,613.39
adopting modern mining techniques,
we aim to limit air and noise pollution.
1,179.75
We have also adopted the Miyawaki
19,76,618
19,61,290
method, which involves planting native 18,16,544
tree saplings to restore biodiversity
844.31
812.98
733.43
and create sustainable forest
ecosystems. This approach maximises
carbon capture and accelerates the
reforestation process.
31.01 lakh
2018-19
2019-20
2020-21
2021-22
2022-23
2018-19
2019-20
2020-21
2021-22
2022-23
Saplings planted
1,613.39 Ha The carbon sink potential created in the last 5 years

Plantation area covered within
and outside mine leaseholds
inside the mine lease area is about
2.35 lakh tonnes/year.
Intellectual
Capital
We rely on our Intellectual Capital to thrive

and prosper in a dynamic landscape.
Backed by decades of industry expertise,
research and development prowess and
consistent adoption of state-of-the-art
mining technology, we intend to usher in a
transformation in India’s energy landscape.
002-115 116-332 333-513
What does It encompasses the vast knowledge

pool and our expertise in the coal
Intellectual mining industry. Intellectual Capital
Capital also encompasses the rapid adoption
mean to us? of advanced digital technology for
streamlining mining as well as internal
processes.
How We recognise that our economic value

stems not only from our physical
Intellectual mining assets, but also from our
Capital ability to effectively manage and
utilise these resources. By leveraging
supports our
our Intellectual Capital, investing
value-creation? in research and development, and
embracing digitalisation, we strive to
excel in the mining industry, optimise
operations, and contribute to its
overall advancement.
Research and Embracing technological to-wealth creation, exploration of

development (R&D) advancements Rare Earth Elements, transportation
systems for deep underground mines,
Our research focuses on key areas We prioritise new R&D projects and communication systems in
such as coal exploration, the that enhance coal production while underground mines.
development of non-conventional considering resource conservation,
energy resources like Coal Bed environmental sustainability, and
Methane (CBM) and Coal Mine safety. We adapt to the competitive
Intellectual property
Methane (CMM), coal gasification, business environment, changing
As part of our ongoing research
coal beneficiation and utilisation, technology, emission norms, and
projects, we have been generating
production optimisation, productivity customer demands when selecting
intellectual property in the form
and safety in mines, environmental R&D projects. We also emphasise
of product, process, and system
protection, alternative uses of technology transfer through
developments. To safeguard the
coal, clean coal technology, wealth collaborations with national and
intellectual assets resulting from
creation from waste, innovation, international partners to foster
these research endeavours, we use
and indigenisation. Through these innovation and maintain a competitive
Intellectual Property Rights (IPRs),
R&D efforts, we aim to enhance edge.
based upon a mutual agreement
mining operations, promote clean
We have taken significant steps between CIL and the implementing/
energy sources, improve coal quality,
towards diversifying R&D initiatives sub-implementing agency involved
ensure safety measures, protect the
by venturing into various new in various projects. According to this
environment, explore alternative uses
projects. These projects encompass arrangement, the ownership of IPR is
of coal, and foster technological
areas such as the alternative use shared equally between CIL and the
advancements and collaboration in
of coal, clean coal technologies, respective agency.
the industry.
environmental sustainability, energy
In order to protect these intellectual
management, digitisation, thin coal
Leadership-driven research assets and maintain their exclusivity,
seam extraction technologies, carbon
and development we file patent applications for various
emission reduction, renewable energy,
assets produced as a result of our
AI, and IoT applications, waste-
At the helm of CIL’s R&D activities research activities.
is the R&D Board, which is headed
by the Chairman of CIL. This Board
serves as the primary governing
body responsible for overseeing and
approving R&D projects. To facilitate
a more streamlined decision-making
process, an Apex Committee has been
established, which operates under
the R&D Board. The Central Mine
Planning and Design Institute Limited
(CMPDI), the consultancy arm of
CIL, acts as the nodal agency for the
Company’s R&D endeavours. CMPDI
plays a crucial role in scrutinising
research proposals and managing
the approval process, ensuring
compliance with the guidelines set by
the Apex Committee and R&D Board.
002-115 116-332 333-513
R&D collaborations To facilitate the participation of In order to raise awareness

experts and young scientists in and enhance participation,
Continuous efforts are being R&D endeavours, communication an Awareness Programme
made to establish and maintain channels have been established was organised to specifically
strong collaborations with with the heads of various research target institutes and research
research organisations, academic organisations and academic organisations. The aim was to
institutions, and coal-producing institutions. Through the Ministry inspire and encourage their
companies, both in India and of Higher Education, Government involvement in our R&D initiatives.
abroad. The goal is to encourage of India, these leaders have been Additionally, a list of priority areas
their active involvement in approached and encouraged for research in the coal sector has
submitting research proposals to involve their faculties and been identified and shared with all
that address our specific needs researchers in our R&D activities. academic institutes and research
and contribute to our long-term The focus is on soliciting quality organisations. This initiative
sustainability. By expanding our and credible research proposals guides them while preparing and
outreach and engaging world-class from their talent pool. submitting proposals that align
scientific and research institutions with our strategic objectives.
in India and abroad, we aim to fulfil
the country’s aspirations to create To streamline the dissemination
an ‘Atmanirbhar Bharat’. of information related to research
projects in the coal sector, the
Central Mine Planning and Design
Institute (CMPDI) has developed
a dedicated website (https://
scienceandtech.cmpdi.co.in). This
website serves as a platform to
promote R&D in the coal sector.
It provides comprehensive details
on completed and ongoing
research projects, as well as
guidelines for implementing coal
research projects.
Renowned institutes such as the

Indian Institutes of Technology
(IITs), National Institutes of
Technology (NITs), and Council of
Scientific and Industrial Research
(CSIR) labs like CIMFR, Dhanbad,
and NML, along with coal-
producing companies, participate
in CIL’s R&D endeavours. Notably,
several international institutions,
including Lulea Technological
University (LTU) of Sweden,
SIMTARS of Australia, and CSIRO,
Australia, are also engaged in
collaborative R&D activities.
6
Academic collaborations
Advancements in R&D
Several research projects have yielded significant outcomes, directly

impacting the industry and enhancing crucial aspects such as mine planning,
design, and technical services for operating mines and supporting future
26
mining endeavours. Ongoing R&D projects
Advances in coal exploration A new technique utilising Airborne An indigenously developed

techniques have been achieved Laser Terrain Mapper and ground- Dumper Collision Avoidance
through R&D efforts, including based Terrestrial Laser Scanner System (DCAS) has been
the use of advanced software has been implemented for OB implemented in opencast mines
for seismic data processing and (Overburden) measurement, to enhance safety and prevent
interpretation. This has resulted significantly reducing time equipment loss. The system uses
in improved sub-surface and manpower compared to proximity sensors, GPRS, and
structural information. conventional survey methods. three layers of detection to
identify objects and provide
positional information.
The techno-economic efficacy Ventilation studies have been Guidelines for dragline operated
of ANFO explosive has been conducted in Continuous Miner opencast mines have been
established, showing better and Longwall underground developed, predicting dump
fragmentation and cost mines to determine minimum height and slope based on
savings compared to other air quantity requirements geo-engineering parameters.
explosives. ANFO is being used for mass production technology. Recommendations for shovel-
in some mines and is undergoing Norms have been framed dumper dump placement
implementation in others. based on the analysis and will have been made to ensure
be implemented in all mass stability, considering water table
production mines. fluctuations.
A project focused on the A Large-Scale Direct Shear A scientific study has addressed
restoration of orchid flora in Testing Machine (LDSTM) has coal extraction issues related to
coalfield areas has resulted in been designed and developed ground control and spontaneous
the multiplication and planting of for testing OB dump samples. heating in Raniganj coalfield.
seedlings in re-vegetated sites, The analysis suggests that Optimised extraction methods
botanical gardens, and forests, steeper bench angles and have also been identified, allowing
with an awareness programme higher external dump for an increased number of
conducted to promote orchid heights can be considered pillars per panel.
conservation. safe, surpassing the existing
regulations.
002-115 116-332 333-513
Digitalisation To effectively track progress across Digitalisation in transportation

all work streams, we have leveraged
In an era marked by the rapid pace the Project System (PS) module Our digitalisation initiatives aim to
of digital transformation, we have of ERP. This module maintains enhance efficiency, increase security,
demonstrated our dedication to and updates information related and monitor key aspects of the coal
progress and integrated the latest to statutory clearances, land, transportation process.
technological advancements into our rehabilitation and resettlement (R&R),
infrastructure, effectively streamlining infrastructure, and other project- VTS
our multifaceted processes with related aspects on a periodic basis.
We have implemented a GPS-based
precision. This schedule monitoring process
Vehicle Tracking System (VTS) with
helps identify bottlenecks, analyse
Geo-fencing to track coal transport
Data analytics interdependencies, and determine
vehicles in real-time. GPS devices
critical actions required for expediting
are installed in the vehicles, and
By analysing data related to project implementation.
their data is transmitted to a central
production rates, supply chain
The ERP Dashboards within the monitoring setup. This system enables
metrics, and inventory levels, we
system display actionable insights us to closely monitor the location
optimise our processes, reduce costs,
derived from the project in real-time. and movement of our fleet, improving
and enhance overall efficiency. Data
These dashboards enable senior coordination and operational control.
analytics provide us with real-time
management to make faster decisions
monitoring capabilities for tracking
based on the latest project updates RFID
key performance indicators (KPIs).
and performance metrics.
By continuously assessing our To control access to the mine
performance against set targets, we areas and regulate the entry of
can identify areas of improvement Cloud data centre
transport vehicles involved in coal
and make data-driven adjustments to transportation, we have introduced
achieve our strategic goals. We have recently launched a
a Radio Frequency Identification
cloud data centre on a public
(RFID) based Boom-Barrier System.
cloud platform, which enables us
ERP implementation This system utilises RFID technology
to leverage advanced analytics
to identify and authenticate vehicles
systems, make informed decisions,
We have successfully implemented entering the mine areas. By
and enhance mining operations.
Enterprise Resource Planning (ERP) implementing this technology, we
The cloud data centre facilitates
to optimise resource utilisation can efficiently manage and restrict
swift and accurate processing of
and improve monitoring across our access to authorised vehicles, thereby
massive data volumes, generating
operations. This implementation enhancing security and preventing
valuable insights and patterns. The
has facilitated real-time information unauthorised entry.
scalability feature allows us to adapt
sharing with various stakeholders,
resources based on demand to ensure
including employees, vendors, and TPMS
optimal performance. Moreover,
customers.
the centralised cloud infrastructure
We have enhanced our Truck Payload
Through the ERP system, we have promotes collaboration and a data-
Monitoring System (TPMS) through the
established a robust monitoring driven culture, empowering us to drive
integration of digital technologies like
system that provides timely updates innovation and productivity in the coal
sensors, telemetry devices, and data
on key performance indicators mining industry.
analytics. This enables better tracking
related to environmental clearance, of the transported coal, ensures
forest clearance, land acquisition, compliance with weight regulations,
and possession. This system is and helps identify any deviations or
crucial for mining projects, as it inefficiencies in the transportation
ensures compliance with regulatory process. By improving the TPMS, we
requirements. Additionally, contractor can streamline our operations, reduce
performance for major infrastructure pilferage, and enhance the overall
projects is regularly reviewed based transparency and accountability of our
on reports generated through the ERP transportation operations.
system.
Project
Digicoal
We have launched Project Digicoal, a pioneering digital transformation initiative aimed at
revolutionising our mining operations and achieving a target of one billion tonnes of coal production
by FY 25-26. This project involves the implementation of advanced digital solutions in seven coal
mines on a pilot basis.
Project Digicoal encompasses By employing drones for surveying Project Digicoal also places
a range of Industry 4.0 digital and planning, it ensures access to emphasis on preventive asset
solutions to enhance efficiency real-time and precise data for better maintenance, using digital
and productivity. It includes decision-making. The utilisation of solutions to proactively monitor
the use of drones for accurate AI/ML algorithms in drill and blast critical mining equipment and
surveying and planning, AI/ML- designs lead to improved coal minimise process downtime.
based drill and blast designs to extraction and resource optimisation. By adopting industry-leading
improve coal fragmentation, IoT- The implementation of IoT-based fleet practices, we aim to drive digital
based fleet monitoring systems monitoring maximises the availability transformation in the mining sector
for optimal equipment utilisation, and utilisation of mining equipment, of the country.
and digitisation of land records thereby enhancing operational
for streamlined land acquisition efficiency. Additionally, digitising land
management. The project is records expedites the land acquisition
strategically designed to impact process, while adhering to legal and
key business performance environmental requirements.
indicators and improve overall
production.
002-115 116-332 333-513
Digital platforms Chatbot In-house video conferencing

platform
We are leveraging digital platforms as To improve communication and
a transformative catalyst to amplify accessibility, we have introduced a Leveraging both in-house and cloud-
our operations, optimise efficiency and WhatsApp Chatbot. This interactive based video conferencing solutions,
promote effective communication. chatbot enables employees, we have extended video conferencing
customers, and vendors to obtain facilities to conduct virtual meetings
relevant information easily and and collaborations. This platform
E-auction
conveniently through the messaging enables seamless communication
application. The chatbot serves as a and decision-making among
By consolidating multiple auction
user-friendly interface for accessing different agencies, employees, and
windows into a single window
various services and addressing stakeholders. With 24x7 availability,
e-auction platform, we have enhanced
queries promptly. the video conferencing platform
transparency in the auction process
ensures smooth progress of day-to-
and facilitated the discovery of
day work and enhances efficiency in
market-driven prices for coal. This
decision-making processes.
electronic auction process has
become the primary method for the
distribution of coal, and customers
can register on the platform to
participate in auctions for coal
procurement.
Bill Reconciliation portal
We have also launched web and

mobile applications to enhance
customer experience and streamline
processes. One such platform is
the Bill Reconciliation portal, where
consumers can reconcile their bills
with CIL. This portal has improved
consumer satisfaction by providing
a convenient and efficient way to
manage billing-related processes.
Data privacy and security
We prioritise data privacy and security exposure to the public network. We To address potential data theft, loss,
by employing various measures to have also partnered with a cloud or corruption, we have contractual
protect sensitive information, such as service provider to implement agreements to provide recourse in
customer and financial data. We have comprehensive security measures the event of such incidents. We also
an extremely secure database located like firewalls, endpoint security, use secure Application Programming
in a militarised zone with encryption Web Application Firewall (WAF), and Interfaces (APIs) for data integration
features and strict access control. Distributed Denial-of-Service (DDoS) with external stakeholders. These
Data flow is facilitated through a protection at the gateway level. APIs are designed with robust security
private Multiprotocol Label Switching Besides, all data used and generated measures to facilitate secure data
(MPLS) Virtual Private Network within the organisation is encrypted exchange.
(VPN) to ensure secure transmission to protect it from interception and
within the internal network and avoid unauthorised access.
Human
Capital
Our progress is powered by a diversely

talented pool of people. To futureproof
our business, we lay emphasis on
nurturing employees through an equitable
workplace, a conducive working
environment and appropriate benefits that
intend to strengthen work-life balance.
002-115 116-332 333-513
What does Our Human Capital encompasses

the vast potential, creativity,
Human and collective intelligence of our
Capital workforce. By fostering a culture of
mean to us? inclusivity and teamwork, we channel
the collaborative potential of our
workforce to overcome challenges
and drive innovation in our mining
operations.
How We understand that an engaged

and motivated team is more inclined
Human to go the extra mile, and thus, we
Capital are committed to cultivating a work
environment, where our employees
supports our
feel valued and find fulfilment in
value-creation? their roles. By listening to their
ideas, concerns, and feedback, we
encourage innovation, continuous
improvement, and a shared
commitment to excellence.
Talent management Recruitment process Diversity in hiring
We have implemented a robust At the entry level, we recruit By recruiting MTs from diverse
talent management system to attract Management Trainees (MTs) in backgrounds, we promote cultural
and develop skilled professionals different disciplines through a rigorous diversity within the organisation.
from various disciplines. Our talent selection process. Candidates with The newly inducted executives bring
management practices focus on a technical background are selected their unique perspectives, skills,
recruiting high-potential candidates to based on their GATE (Graduate and experiences to the Company. It
provide opportunities for growth and Aptitude Test in Engineering) score, enriches the organisational culture,
advancement, and foster a diverse while non-technical candidates are fosters innovation, and promotes
and inclusive work environment. chosen through a Computer Based inclusivity within the organisation.
Test (CBT). The all India recruitment
process provides an opportunity
2,39,210 for talent from different parts of the

country to be a part of CIL.
In FY 22-23, we recruited
1,094 MTs
Total workforce To facilitate a seamless and
transparent recruitment process, we on the basis of GATE-2022
have engaged an external agency, a
Central Government Public Sector score and CBT-2022.
Unit (PSU), to conduct the CBT and Additionally,
128 Medical
other related activities. It handles
everything from developing the online
application portal to conducting the
CBT in a professional and efficient
manner. Candidates are also provided
the opportunity to raise objections
Executives
against questions or choice of were selected through
answers, and the agency ensures interviews conducted by our
timely resolution of grievances. The
Executive - 16,305 final merit list is prepared based on subsidiaries. The recruitment
Non-executive - 2,22,905 the approved criteria, and the results process ensures representation
are declared accordingly. Based
on operational requirements and in terms of state, category, and
candidate preferences, the placement gender, further reinforcing our
of selected candidates for CIL’s
subsidiaries are decided. commitment to diversity and
equal opportunity.
002-115 116-332 333-513
Employees recruited
Gender Training and development
To build an engaged and skilled workforce, we strive to provide

1,234
numerous opportunities for continuous training and development. It

1,123
enables us to nurture a progressive workforce that is determined to

fulfil organisational goals.
111
Female Male Total
Management trainees recruited
Gender
1,094
1,016
78
Training for new joinees
We have implemented a comprehensive onboarding process for Management

Female Male Total Trainees (MTs). The onboarding programme spans one year and aims to
facilitate a smooth transition to a professional working environment through
on-the-job training across different functional areas. The programme includes
a combination of classroom training, on-the-job training and mentoring:
48 Classroom training
During their induction,

On-the-job training
They are assigned to

Mentoring
New executives receive

PwBD employees recruited
the trainees are different subsidiaries of guidance and support
offered technical CIL, where they receive through mentoring
skill development on-the-job training in programmes that help
and managerial skill respective functional them fulfil their roles
8 development training
sessions through
online as well as offline
areas. This hands-on
experience allows
them to apply their
and responsibilities
efficiently. Mentors
also provide valuable
PwBD management trainees channels, conducted knowledge and gain insights and assist
recruited at the Indian Institute practical insights into in their professional
of Coal Management their roles. development.
(IICM) in Ranchi.
Employee training Strategic partnerships for capability Institutional support for training and
enhancement development
We place emphasis on continuous
learning and development for our We have established partnerships We have established the Indian
existing employees. Various training with renowned management and Institute of Coal Management (IICM)
programmes are organised to foster a technology institutes, including IIM in Ranchi, which serves as the apex
learning culture and address specific Calcutta, IIM Lucknow, IIM Indore, training institution for the Company.
competency gaps. These programmes IIM Nagpur, IIT Kharagpur, and IIT- IICM is responsible for meeting the
encompass technical, managerial, ISM Dhanbad. These collaborations training requirements of executives
behavioural, and functional aspects: facilitate capability enhancement across CIL’s subsidiaries and
programmes for CIL’s executives. conducts structured and calendar-
Technical training based programmes throughout the
1,083
year.
Employees receive discipline-specific
training to enhance their technical In addition to IICM, CIL’s subsidiaries
skills. Additionally, training on new have Management Development
technologies and industry trends is Executives trained at premier
Institutes (MDIs) and Vocational
provided to help employees stay up- institutes
Training Centres (VTCs) dedicated to
to-date with latest advancements. providing training to both executives
and non-executives. These institutes
Managerial training ensure that the training needs of
employees are met promptly and that
Training programmes focus on
developing managerial skills for General they receive need-based as well as
statutory training throughout the year.
effective delegation, logical thinking,
conflict management, negotiation
Management
One of the notable initiatives
skills, and interpersonal relationships. Programme at undertaken by IICM is the organisation
These skills are crucial for employees
IIM
of Outbound training programmes
to excel in their roles and contribute to at various locations such as Manali,
the organisation’s success. Uttarkashi, Leh, and others. These
Behavioural training Lucknow serve multiple purposes, including

leadership development and employee
wellness.
Communication skills, emotional
intelligence, leadership potential, IIM Lucknow conducts a two-
and presentation skills are some
areas covered in behavioural training
programmes. These initiatives aim
week General Management
Programme, specifically
designed for E4 and E5
95,635
to enhance efficiency and foster a Employees have been trained
executives of CIL. The
positive work environment. programme covers various
topics, including conflict
52
Functional training management, negotiation
skills, benchmarking
Employees receive training on specific
methods, financial risk
functional areas relevant to their
analysis, leadership potential, Executives attended workshops/
roles, such as understanding the RTI
communication skills, strategic Conferences/training/visits
(Right to Information) Act, disciplinary
HRM, and more. It aims outside the country
proceedings, and other statutory
to enhance skills, develop
requirements.
talent, and increase employee
engagement.
5,83,984
Training man-days achieved
002-115 116-332 333-513
In-house training
programmes
We offer a range of in-house training programmes to enhance the skills and capabilities of our employees.
These include:
Disha Lakshya Manthan Outbound programmes
It is designed for It is a personal It is a leadership It is a leadership

recently promoted development and development programme development
general managers. It transformation journey for newly selected initiative conducted
aims to provide them organised for general Directors on the Boards in collaboration with
with a comprehensive managers. It focuses of various subsidiaries of Tata Steel Adventure
understanding of on individual growth, CIL. It equips Directors Foundation (TSAF). It
their new roles and providing participants with the necessary is held in Mussoorie
responsibilities. Through with tools and skills and knowledge and targets executives
Disha, the general techniques to enhance to develop leadership with a focus on team
managers gain insights their leadership skills, qualities. It helps them building, leadership
into the challenges and decision-making abilities, understand their roles and development, and
expectations associated and overall professional responsibilities, navigate outdoor activities aimed
with their positions, development. It aims to complex organisational at fostering collaboration,
enabling them to excel in empower participants to dynamics, and drive communication, and
leadership roles. achieve their personal as strategic initiatives problem-solving skills
well as professional goals. for the growth of the among the participants.
organisation. Similar team building and
29 50 leadership programmes
are also conducted at
other locations such
General managers General Chief Managers as Ladakh, Shimla, Jim
trained through Disha trained through Lakshya Corbett, and Panchgani
for Company executives.
24
Female executives
were part of the
outbound programme
Diversity and inclusion Building a safe and inclusive space Raising awareness and preventing
for women sexual harassment
We are committed to fostering a
diverse, inclusive, and respectful work We support the well-being of our To foster a respectful and inclusive
environment where all employees are female employees in the form of work environment, we conduct
valued, supported, and provided with benefits such as maternity leave, child regular training programmes on the
equal opportunities for growth. We care leave, and the provision of crèche Prevention of Sexual Harassment
recognise the significance of having facilities. The Forum of Women in (POSH), workplace ethics, and gender
a diverse workforce, comprising Public Sector (WIPS), operating under sensitisation. These programmes
individuals from various backgrounds, the aegis of the Standing Conference aim to educate employees on issues
genders, communities, and abilities. of Public Enterprises (SCOPE), related to workplace harassment
To promote equal opportunities, empowers women by providing them and discrimination. Additionally,
we have implemented an equal with a platform for networking and every subsidiary and CIL itself has
opportunity policy that specifically professional growth. In the fiscal an Internal Complaints Committee to
caters to employees from vulnerable year, we celebrated International address and resolve issues related to
groups. Women’s Day with the theme ‘gender sexual harassment at the workplace.
equity’. As part of this celebration, we
19,794
organised cultural programmes aimed
at empowering women and fostering
their personal and professional
11
growth. Training sessions conducted on
Female employees
POSH
783 331
PwBD employees
Participants attended the POSH
training
Equitable employment opportunities
We maintain fair and equitable

practices for hiring and promotion
and do not discriminate on the basis
of caste, creed or religion, during
selection or employment. During
the recruitment process, we also
ensure that adjustments are made
to accommodate candidates with
disabilities or special needs.
Transparent and inclusive hiring

committees
Interviews are conducted by a

diverse panel representing different
backgrounds and experiences,
contributing to our emphasis
on inclusiveness, diversity, and
transparency in the selection process.
Marginalised communities are also
given due recognition and are involved
in various committees, to ensure
that their voices are heard and their
perspectives valued.
002-115 116-332 333-513
Employee well-being
We place a strong emphasis on

Prompt first aid services
In the event of workplace injuries,

immediate attention is provided at
26
employee well-being through our Digital dispensaries
comprehensive ‘total care’ approach. the mines through first aid services.
We recognise the importance of Medical units conveniently located
addressing the diverse needs of
our employees and their families by
extending our support beyond the
near mining locations are equipped
to provide appropriate medical care.
In cases of serious injuries, the mine
564
manager promptly reports the incident Ambulances
workplace. The employee welfare
programmes encompass various to the medical attendant, who then
aspects such as housing, recreation,
sports, health, and education for
children.
submits an injury report for further
evaluation and necessary actions.
1,044
70
Doctors
Accessible medical facilities
We strive to make medical care

accessible to all employees and their
Hospitals
1,077
387
family members through our owned Nurses
medical facilities. To ensure access
1,464
to healthcare, we have established
medical facilities across our
Private empanelled hospitals
operational areas, even in scattered
and remote locations. These facilities
366
Paramedical staff
include hospitals, dispensaries, digital
dispensaries, ambulances, and a
dedicated team of doctors, nurses,
and paramedical staff. Dispensaries
Providing convenient healthcare

options
Employees, along with their entitled

family members, can avail treatment
facilities free of cost at these medical
facilities. In addition, we have
collaborated with privately empanelled
hospitals, enabling employees to
receive treatment as and when
required. In situations where specific
facilities are not available, patients
are referred to appropriate higher
centres for treatment. Recognising
the importance of mental health, we
also ensure that our employees have
access to mental health care providers
at the Company’s hospitals.
Upholding human rights
We are committed to promoting human rights, fostering inclusivity, and providing a safe and fair working environment for all
our employees. As a model employer, we comply with various acts and regulations that safeguard the rights and interests
of our workforce. We ensure that abstract copies of these acts are readily available to all employees, to promote awareness
and understanding of their rights.
Our commitment to human rights is reflected in our adherence to several key acts, including:
Payment of Industrial Employment Industrial

Wages Act, (Standing Orders) Act, Disputes Act, Factories Act,
1936 1946 1947 1948
Ensures timely and Establishes the terms Provides a framework Ensures the health,
accurate payment of and conditions of for resolving disputes safety, and welfare of
wages to employees. employment, ensuring between employers workers.
fair and transparent and employees,
practices. promoting peaceful
industrial relations.
Coal Mines
Provident Fund
Minimum And Miscellaneous
Wages Act, Provisions Act, Mines Act, Maternity Benefit Act,
1948 1948 1952 1961
Establishes minimum Safeguards the social Sets forth safety and Protects the rights of
wage standards to security and welfare of welfare provisions for women employees by
protect workers from coal mine workers. workers employed in providing maternity
exploitation and ensure mines. benefits and promoting
fair compensation. a healthy work-life
balance.
002-115 116-332 333-513
Scheduled Caste
Contract Labour and Scheduled
(Regulation and Payment of Gratuity Equal Remuneration Tribe (Prevention of
Abolition) Act, Act, Act, Atrocities) Act,
1970 1972 1976 1989
Ensures the welfare Ensures the payment of Prohibits discrimination Protects the rights of
of contract labourers gratuity to employees in remuneration based scheduled castes and
and regulates upon retirement or on gender, promoting tribes and prevents
their employment termination of service. equal pay for equal discrimination and
conditions. work. atrocities against them.
Sexual Harassment of
Women at Workplace
(Prevention, Transgender Persons
Prohibition, and Rights of Persons (Protection of Rights)
Redressal) Act, with Disabilities Act, Act,
2013 2016 2019
Provides a safe and Ensures equal Upholds the rights of

harassment-free opportunities, transgender people,
work environment for accessibility, and including protection
women and establishes non-discrimination for against discrimination
mechanisms for persons with disabilities and access to equal
addressing complaints. in employment. opportunities.
Occupational health and Safeguarding workers with the right Emergency preparedness
safety equipment
In the event of a mine emergency, we
We prioritise the occupational We emphasise the importance have a robust Emergency Response
health and safety of our employees of using state-of-the-art mining and Evacuation Plan (EREP) in place.
above all else. We firmly believe technology. By utilising advanced It outlines procedures for the safe
that accidents can be prevented, tools and machinery, we aim to and orderly withdrawal of personnel
and industrial health hazards can be minimise risks and ensure the well- from dangerous situations. It also
controlled through careful planning, being of our workers. We continuously includes guidelines for providing first
comprehensive training, a proactive strive to adopt best practices for aid, arranging transportation, and
mindset, and the provisioning of strata and gas management, as well administering medical treatment to
appropriate equipment. as strengthen our water management those injured. Our employees receive
protocols to safeguard our employees. special training to respond effectively
0.09 per million te.

to critical operations and mine
emergencies. We also conduct regular
Safety protocol training
mock rehearsals to assess the efficacy
Serious injury rate To enhance safety awareness and of our emergency response plan and
skills among our workforce, we identify areas of improvement.
0.03 per million te.

provide comprehensive training on
mine safety. This includes initial and Regular safety inspections
refresher training, as mandated by
relevant statutes as well as on-the-job We regularly carry out inspections of
Fatality rate
training. We also utilise simulators to our mines to identify potential hazards
train heavy earth-moving machinery and ensure compliance with safety
10% (HEMM) operators, ensuring they have

the necessary expertise to operate
equipment safely and efficiently.
regulations. These inspections are
carried out by trained professionals,
who meticulously assess various
Reduction in the injury rate aspects of mining operations,
including equipment condition,
40%
ventilation systems, and overall safety
measures.
Reduction in the fatality rate

002-115 116-332 333-513
Employee welfare Educational facilities Scholarships
We continuously evaluate and improve We recognise the importance of We offer the Coal India Scholarship to
our employee welfare programmes education in shaping the future of support the educational aspirations
to ensure the well-being and our employees’ children. To provide of our employees’ children. Under
development of our workforce and quality education, we extend financial this scheme, we provide two types
their families. We strive to provide assistance and infrastructure facilities of scholarships: Merit and General
a range of facilities and benefits to to schools operating in mining Scholarships. These scholarships
create a conducive environment for areas. Renowned institutions such are awarded annually, following the
our employees to thrive personally and as DAV, Kendriya Vidyalaya, Delhi prescribed terms and conditions. By
professionally. Public School, and government-run doing so, we encourage academic
educational institutions receive our excellence and enable our employees’
Housing facilities support. We also provide financial children to pursue their educational
assistance and infrastructure support goals.
We understand the importance of to privately managed schools and
having a comfortable and secure educational institutions in and around
living space. Therefore, we provide the coalfields.
Company quarters to eligible
employees. We also regularly
undertake repair and maintenance
work, including renovations, to provide
our employees a decent place to live.
Water supply
Access to clean drinking water is

essential for a healthy life. To address
this, we have implemented various
water supply schemes. We prioritise
the treatment of water to ensure
its quality before distribution. In
addition to this, we have established
Reverse Osmosis (RO) plants and
pressure filter plants in coalfields.
These facilities not only cater to
our employees, but also benefit the
surrounding communities. During
periods of water scarcity, we also
arrange for water supply through
tankers, providing access to this
vital resource for a larger number of
people.
Board of Directors
Shri. PM Prasad
Chairman
Government Nominee Directors
Shri. Nagaraju Maddirala Smt. Nirupama Kotru
Functional Directors
Shri. Vinay Ranjan Dr. B Veera Reddy Shri. Debasish Nanda Shri. Mukesh Choudhary
Independent Directors
Prof. G. Nageswara Rao Dr. Arun Kumar Oraon CA Kamesh Kant Acharya CA Denesh Singh
Shri. Punambhai Kalabhai Makwana Shri. B. Rajeshchander Capt. Ghanshyam Singh Rathore
Chief Vigilance Officer
Shri. Brajesh Kumar Tripathy

002-115 116-332 333-513
Members of the Board & Senior Management

as on 18th JULY 2023
Functional Directors Government Nominee Directors
Shri. P. M. Prasad : Chairman cum Shri. Nagaraju Maddirala : Addl. Secretary,

Managing Director MoC, New Delhi
Shri. Vinay Ranjan : Personnel and Smt. Nirupama Kotru : JS & FA, MOC,
Industrial Relations New Delhi
Dr. B. Veera Reddy : Technical
Shri. Debasish Nanda : Business

Development &
Finance (Addl.
Charge)
Shri. Mukesh Choudhary : Marketing
Independent Directors Company Secretary
Prof. Nageswara Rao Gollapalli Shri. B. P. Dubey
CA Denesh Singh
Shri. Bhojarajan Rajeshchander
CA Kamesh Kant Acharya
Shri. Punambhai Kalabhai Makwana
Dr. Arun Kumar Oraon
Capt. Ghanshyam Singh Rathore
Executive Directors
Shri. M.K. Singh : Coordination
Shri. Narayan Dash : Safety & Rescue
Dr. A.K. Samantaray : Corporate Affairs & Business Development
Shri. Rakesh : Information and Communications Technology
Shri. Sunil Kumar Mehta : Finance & Chief Financial Officer
Shri. Sudhir Agrawal : Engineering & Equipment
Shri. Soumitra Singh : Solar
Shri. Alok Lalit Kumar : Production
Shri. Sanjay Khare : Land & Rehabilitation
Shri. Pratul Dev Sharma : Material & Contracts
Shri. Sujay Halder : Marketing & Logistics

Bankers, Auditors,
Registered Office and RTA
1 Bank of India 8 ICICI Bank Limited
2 Bank of Baroda 9 IDBI Bank
3 Canara Bank 10 Indian Bank
4 Punjab National Bank 11 UCO Bank
5 State Bank of India 12 Axis Bank
6 Union Bank of India 13 Kotak Mahindra Bank
7 HDFC Bank Ltd 14 Bank of Maharashtra
Statutory Auditors Registered Office Website Registrar & Share Transfer Agent
M/s Lodha & Co Coal Bhawan, www.coalindia.in M/s. Alankit Assignments Limited
Chartered Accountants, Premises No-04 MAR, 205-208 Anarkali Complex
14 Government Place Plot No-AF-III, Jhandewalan Extension,
East Kolkata Action Area-1A, New town, New Delhi – 110 055
Pin code - 700069 Rajarhat, Kolkata-700156
Phone No:
Phone: 033-23245555 011-4254-1234/2354-1234
Email: complianceofficer.cil@ Fax No: 011-4154-3474

coalindia.in
E-mail id: rta@alankit.com
CIN: L23109WB1973GOI028844
Website: www.alankit.com
Toll free no: 1860-121-2155

OPERATIONAL STATISTICS
002-115
Year Ending 31st March 2023 2022 2021 2020 2019 2018 2017 2016 2015
Corporate Overview
1.a)Production of Raw Coal

(MillionTonnes)
Underground 25.487 25.624 26.454 30.037 30.480 30.542 31.477 33.786 35.042
Opencast 677.717 597.01 569.766 572.101 576.40 536.823 522.663 504.968 459.196
Total 703.204 622.63 596.22 602.138 606.89 567.365 554.140 538.754 494.238
b)Overburden Removal 1,658.627 1,362.06 1,344.683 1,154.327 1,161.99 1,178.115 1,156.377 1,148.908 886.528
116-332
(million Cum)
2.Off take (Raw Coal)
(MillionTonnes)
Statutory Reports
Power 586.58 540.57 444.97 465.678 491.247 453.473 426.294 407.648 385.852
Steel/Hard Coke 9.092 6.85 5.691 5.394 5.372 5.835 6.759 7.668 6.994
Others 99.022 115.15 123.814 110.854 111.517 120.976 110.266 119.180 96.531
TOTAL 694.689 662.57 574.480 581.926 608.137 580.284 543.319 534.496 489.377
3.Average Manpower 2,43,880 2,53,783 2,65,730 2,78,962 2,92,118 3,04,386 3,162,10 3,27,750 3,39,867
4. Year-end Manpower 2,39,210 2,48,550 2,59,016 2,72,445 2,85,479 2,98,757 3,10,016 3,22,404 3,33,097
333-513
5.Productivity
A) Average per Man per Year (tonnes) 2,940 2,505 2,302 2,210 2,126 1,899 1,787 1,671 1,484
B) Output per manshift (OMS)
i) Under Ground (Tonnes) 1.05 0.98 0.93 0.99 0.95 0.86 0.80 0.80 0.79
Financial Statements
ii) Open Cast (Tonnes) 22.04 15.23 15.09 14.25 14.68 14.10 15.26 14.35 13.13
iii) Overall (Tonnes) 12.80 9.53 9.02 8.53 8.51 7.71 7.53 6.95 6.20
103
OPERATIONAL STATISTICS - COAL INDIA LTD. (CONSOLIDATED) 104
INCOME AND EXPENDITURE STATEMENT

(H in crore)
Sl No For The Year Ending 31st March 2023 2022 2021 2020 2019 2018 2017 2016
A Earned From
1 Gross Sales (Coal) 1,87,455.57 1,52,603.3 1,26,786.13 1,34,979.13 1,40,603.00 1,26,543.97 1,22,286.96 1,08,147.54
Less: Excise Duty & Other Levies 59,828.1 52,040.73 44,075.81 45,605.79 47,706.92 45,432.71 46,684.10 32,505.76
2 Net Sales 1,27,627.47 1,00,562.57 82,710.32 89,373.34 92,896.08 81,111.26 75,602.86 75,641.78
Coal India Limited
3.i Facilitation charges for coal import 13.93 0.38

3.ii Subsidy for Sand Stowing & Protective Works 3.38 1.46 8.31 0.76 6.82 80.79 126.84 126.85
3.iii Recovery of Transportation & Loading Cost (Net of Excise Duty) 6,138.57 5,236.39 4,442.95 3,832.02 3,853.99 2,980.60 2,490.91 2,238.62
3.iv Evacuation facilitating Charges (Net of Levies) 4,161.38 3,632.07 2,321.65 2,392.91 2,520.65 743.57
3.v Revenue from Services (Net of Levies) 307.18 282.93 542.78 481.31 308.07 328.02 190.60
3 Other Operating Revenue (Net of Excise Duty) 10,624.44 9,152.85 7,315.69 6,707.00 6,689.53 4,132.98 2,808.35 2,365.85
4.i Interest on Deposits & Investments 3,069.09 1,612.55 1,509.47 3,309.66 3,167.04 2,770.90 3,536.11 4,747.97
4.ii Dividend from Mutual Funds 0 11.01 3.94 157.44 243.36 180.85 194.49 265.09
4.iii Other non-operating Income 3,481.57 2,257.85 2,229.42 2,977.86 2,426.66 2,023.13 1,593.61 927.52
4 Other Income 6,550.66 3,881.41 3,742.83 6,444.96 5,837.06 4,974.88 5,324.21 5,940.58
TOTAL (A) 1,44,802.57 1,13,596.83 93,768.84 1,02,525.30 1,05,422.67 90,219.12 83,735.42 83,948.21
B Paid to / Provided for
1.i Salary, Wages, Allowances ,Bonus etc. 38,644.35 30,534.07 28,634.74 28,812.51 28,542.12 28,008.89 25,995.43 23,675.76
1.ii Contribution to P.F. & Other Funds 8,369.00 7,905.73 7,753.70 8,271.56 8,080.78 12,035.02 5,045.79 4,301.95
1.iii Others 2,395.81 2,033.41 2,203.98 2,320.11 2,149.95 2,577.93 2,481.66 2,149.07
1 Employee Benefits Expenses 49,409.16 40,473.21 38,592.42 39,404.18 38,772.85 42,621.84 33,522.88 30,126.78
2 Cost of Materials Consumed 13,557.00 9,443.51 7,588.54 7,065.46 7,331.43 6,813.33 6,968.52 7,039.76
3 Purchases of Stock-in-Trade 469.74 103.56 282.34 60.80
4 Changes in inventories of finished goods/work (678.12) 2308.49 (2,351.26) (1,042.50) 856.24 1,679.46 (1,238.38) (1,444.22)
in progress and Stock in trade
5 Power Expenses 2,759.89 2,638.46 2,524.67 2,467.22 2,443.08 2,516.42 2,546.45 2,490.54
6 Corporate Social Responsibility Expenses 586.5 548.98 449.31 587.84 416.47 483.78 489.67 1,082.16
7 Repairs 1,772.28 1,632.33 1,544.85 1,410.93 1,486.56 1,439.01 1,285.92 1,241.67
8 Contractual Expenses 23,289.21 18,875.16 16,045.91 13,911.55 13,337.84 12,757.28 12,303.03 11,128.42
9 Finance Costs
Unwinding of discounts 546.09 456.81 446.46 434.29 251.33 393.59 378.55 365.51
Other finance costs 138.22 84.68 195.78 68.63 12.35 36.51 30.63 20.65
10 Depreciation/Amortization/Impairment 4,675.27 4,428.67 3,717.85 3,450.83 3,450.36 3,062.70 2,906.75 2,825.91
11 Stripping Activity Adjustment 3,809.11 3,760.86 1,450.37 5,541.87 5071.19 3,358.25 2,672.21 2,811.42
12 Provisions & Write Off 567.53 184.33 1023.21 486.41 111.61 82.61 2,331.95 884.57
13 Other Expenses 5,891.74 5,032.91 4,246.18 4,605.30 4,752.49 4,204.03 5,090.91 3,935.24
TOTAL (B) 1,06,793.62 89,971.96 75,756.63 78,452.81 78,293.80 79,448.81 69,289.09 62,508.41
Integrated Annual Report 2022-23
OPERATIONAL STATISTICS - COAL INDIA LTD. (CONSOLIDATED)
002-115

(H in crore)
Corporate Overview
14 Profit before Share of Joint Venture/Associate's profit/(loss) 38,008.95 23,624.87 18,012.21 24,072.49 27,128.87 10,770.31 14,446.33 21,439.80
(A-B)
15 Share of Joint Venture /Associate's profit/(loss) (8.14) (8.59) (2.97) (1.17) (2.00) 0.44 (1.76) (1.14)
16 Profit Before Tax 38,000.81 23,616.28 18,009.24 24,071.32 27,126.87 10,770.75 14,444.57 21,438.66
116-332
17 Less: Tax Expenses (9,875.87) (6,237.86) (5,307.07) (7,370.98) (9,662.45) (3,732.31) (5,164.79) (7,171.87)
18 Profit for the period from continuing operations 28,124.94 17,378.42 12,702.17 16,700.34 17,464.42 7,038.44 9,279.78 14,266.79
19 Profit/(Loss) from discontinued operations (after Tax) (0.01) (0.01)
Statutory Reports
21 Profit For the Period 28,124.94 17,378.42 12,702.17 16,700.34 17,464.42 7,038.44 9,279.77 14,266.78
22 Other Comprehensive Income
A (i) Items that will not be reclassified to profit or loss 353.40 90.28 (769.73) (1,805.19) (42.53) 973.37 140.15 455.01
(ii) Income tax relating to items that will not be reclassified to (88.94) (39.19) 134.70 469.88 59.53 (330.56) (58.16) (160.89)
profit or loss
B (i) Items that will be reclassified to profit or loss 0.17 0.22 (0.48) 0.58 0.38 0.01 0.01 0.29
(ii) Income tax relating to items that will be reclassified to - - - - - - - -
333-513
profit or loss
Total Other Comprehensive Income 264.63 51.31 (635.51) (1,334.73) 17.38 642.82 82.00 294.41
23 Total Comprehensive Income for the period (Comprising 28,389.57 17,429.73 12,066.66 15,365.61 17,481.80 7,681.26 9,361.77 14,561.19
Profit (Loss) and Other Comprehensive Income for the
period)
24 Profit attributable to:
Owners of the Company 28,165.19 17,358.10 12,699.89 16,714.19 17,463.07 7,038.56 9,280.02 14,266.82
Non-controlling interest (40.25) 20.32 2.28 (13.85) 1.35 (0.12) (0.25) (0.04)
28,124.94 17,378.42 12,702.17 16,700.34 17,464.42 7,038.44 9,279.77 14,266.78
25 Other Comprehensive Income attributable to:
Owners of the Company 264.63 51.31 (635.51) (1,334.73) 17.38 642.82 82.00 294.41
Non-controlling interest -
264.63 51.31 (635.51) (1,334.73) 17.38 642.82 82.00 294.41
26 Total Comprehensive Income attributable to:
Owners of the Company 28,429.82 17,409.41 12,064.38 15,379.46 17,480.45 7,681.38 9,362.02 14,561.23
105
Non-controlling interest (40.25) 20.32 2.28 (13.85) 1.35 (0.12) (0.25) (0.04)
28,389.57 17,429.73 12,066.66 15,365.61 17,481.80 7,681.26 9,361.77 14,561.19
FINANCIAL POSITION
(H in crore)
As at 31st March
Sl No 2023 2022 2021 2020 2019 2018 2017 2016
Particulars
ASSETS
A Non-Current Assets
(a) Property, Plant & Equipments 44,447.97 42,697.79 37,753.65 32,302.35 28,546.43 24,059.98 22,035.99 20,662.55
Coal India Limited
(b) Capital Work in Progress 15,262.62 12,713.73 10,403.66 8,271.09 9,618.98 10,272.70 8,585.22 4,553.22
(c) Exploration and Evaluation Assets 4,924.85 3,873.55 4,605.81 4,443.12 4,036.71 3,484.58 1,717.73 1,351.13
(d) Intangible assets 2,588.11 105.62 45.76 38.14 35.18 29.53 57.65 68.81
(e) Intangible assets under development 2,359.35 183.41 86.17 57.16 38.70
(f) Financial Assets
(i) Investments 3,085.4 24,26.97 2,317.64 1,873.17 1,419.84 1,303.06 969.39 966.11
(ii) Loans 3,72.21 355.47 190.00 638.59 1,141.73 1,020.08 23.29 80.60
(iii) Other Financial Assets 16,300.29 14,498.79 13,140.24 12,293.05 12,098.95 11,315.98 9,534.29 8,883.05
(g) Deferred Tax Assets (net) 4,177.00 4,128.42 4,068.09 3,618.01 4,269.16 5,355.05 2,732.76 2,044.54
(h) Other non-current assets 9,606.15 6,407.94 4,417.23 3,105.25 2,144.39 2,514.08 2,238.99 1,891.67
Total Non-Current Assets (A) 1,03,123.95 87,391.69 77,028.25 66,639.93 63,350.07 59,355.04 47,895.31 40,501.68
B Current Assets
(a) Inventories 8,154.68 7,075.68 8,947.47 6,617.98 5,583.93 6,443.85 8,945.27 7,569.17
(b) Financial Assets
(i) Investments 4,054.01 6,493.63 3,632.59 99.70 1,749.96 400.57 513.47 1,939.96
(ii) Trade Receivables 13,060.48 11,367.68 19,623.12 14,408.22 5,498.55 6,257.80 12,476.27 11,447.61
(iii) Cash & Cash equivalents 5,665.38 7,063.48 5,112.40 2,791.10 2,302.36 3,997.67 4,193.91 4,876.40
(iv) Other Bank Balances 34,256.47 22,901.75 12,197.90 25,657.86 28,821.87 27,282.31 26,955.28 33,138.51
(v) Loans 20.79 0.32 500.81 502.65 502.33 3.69 12.48 21.80
(vi) Other Financial Assets 2,716.96 2,620.91 2,215.65 2,779.28 3,522.09 3,383.68 2,829.83 2,491.07
(c) Current Tax Assets (Net) 8,719.00 8,423.19 9,161.38 8,950.27 9,202.53 7,996.58 7,467.97 4,397.87
(d) Other Current Assets 31,434.93 26,899.35 23,362.00 21,880.49 12,487.76 10,349.48 6,525.43 6,444.13
Total Current Assets (B) 10,8082.7 92,845.99 84,753.32 83,687.55 69,671.38 66,115.63 69,919.91 72,326.52
Total Assets (A+B) 2,11,206.65 1,80,237.68 1,61,781.57 1,50,327.48 133,021.45 1,25,470.67 1,17,815.22 1,12,828.20
EQUITY AND LIABILITIES
A Equity
1 Issued, Subscribed and Paid-up Equity Share Capital 6162.73 6,162.73 6,162.73 6,162.73 6,162.73 6,207.41 6,207.41 6,316.36
2 Capital Redemption Reserve
Balance at opening 1,202.96 1,202.96 1,202.96 1,202.96 1,013.13 2,064.51 1,808.36 1,808.36
Addition during the year 189.83 -
Buyback of Equity Shares 256.15 0.00
002-115
FINANCIAL POSITION
(H in crore)
Corporate Overview
As at 31st March
Sl No 2023 2022 2021 2020 2019 2018 2017 2016
Particulars
Issue of Bonus Shares (1,051.38)
Balance at Closing 1,202.96 1,202.96 1,202.96 1,202.96 1,202.96 1,013.13 2,064.51 1,808.36
3 Capital Reserve
116-332
Balance at opening 1,566.57 1,565.45 1,461.52 1,461.82 1,567.66 19.81 18.18 18.18
Addition during the year 2.63 2.20 0.19 0.60 1.00 0.39 2.32
Adjustment during the year (1.40) (1.08) (0.98) (0.90) (1.33) (0.99) (0.69)
Statutory Reports
Issue of Bonus Shares 104.72 1,548.45

Buyback of Equity Shares (105.51)
Balance at Closing 1,567.80 1,566.57 1,565.45 1,461.52 1,461.82 1,567.66 19.81 18.18
4 General Reserve
Balance at opening 17,641.59 16,779.18 16,080.17 15,321.42 15,737.15 15,676.06 23,139.53 21,511.02
Adjustments (3,914.17)
Transfer to/from General reserve 1,326.83 862.41 721.38 758.75 791.17 544.89 510.75 1,628.51
333-513
Buyback of Equity Shares (1,065.00) (3,797.20)

Tax on Buyback (141.90) (262.85)
Issue of Bonus Shares (22.37) (483.80)
Balance at Closing 18,968.42 17,641.59 16,779.18 16,080.17 15,321.42 15,737.15 15,676.06 23,139.53
5 Retained Earnings
Balance at opening 17,451.80 11,740.96 7,547.95 1,269.89 (5,365.55) 174.18 3,256.61 11,455.93
Adjustments (22.80) (0.06) 0.29 (0.03) 303.68 3,891.65 (7.77)
Profit for the period 28,165.19 17,358.10 12,699.89 16,714.19 17,463.07 7,038.56 9,280.02 14,267.11
Appropriations
Transfer to/from General reserve (1,326.83) (862.41) (721.38) (758.75) (791.17) (544.89) (510.75) (1,628.51)
Transfer to other reserves -
Interim Dividend (12,479.57) (8,627.82) (7,703.44) (7,395.27) (8,105.58) (10,242.24) (12,352.76) (17,306.84)
Final Dividend (1,848.82) (2,156.97) -
Corporate Dividend Tax (2,282.08) (1,833.86) (2,081.57) (2,750.36) (3,523.31)
Buyback of Equity Shares (24.64)
107
Tax on Buyback (72.38) (640.23)

Issue of Bonus Shares (82.35) (13.27)
Balance at Closing 29,938.97 17,451.80 11,740.96 7,547.95 1,269.89 (5,365.55) 174.18 3,256.61
6 Other Comprehensive Income
OCI Remeasurement of Defined Benefits Plans (net of Tax)
Balance at opening (883.33) (934.42) (298.41) 1,036.32 1,018.94 376.12 294.12 0.00
FINANCIAL POSITION
(H in crore)
As at 31st March
Sl No 2023 2022 2021 2020 2019 2018 2017 2016
Particulars
Remeasurement of Defined Benefits Plans (net of Tax) 264.46 51.09 (636.01) (1,334.73) 17.38 642.82 82.00 294.12
Adjustments 21.99
Balance at Closing (596.88) (883.33) (934.42) (298.41) 1,036.32 1,018.94 376.12 294.12
Coal India Limited
OCI-Exchange Difference in translating the financial

statements of a foreign subsidiary
Balance at opening 0.72 0.50
Profit for the period 0.17 0.22 0.50
Balance at Closing 0.89 0.72 0.50 0.00 0.00 0.00 0.00 0.00
Balance at Closing (595.99) (882.61) (933.92) (298.41) 1,036.32 1,018.94 376.12 294.12
7 Other Equity 51,082.16 36,980.31 30,354.63 25,994.19 20,292.41 13,971.33 18,310.68 28,516.80
8 Equity Attributable to Equityholders of the Company 57,244.89 43,143.04 36,517.36 32,156.92 26,455.14 20,178.74 24,518.09 34,833.16
9 Non-controlling Interest 770.68 673.79 441.08 394.08 407.80 362.45 345.92 104.78
10 TOTAL EQUITY (A) 58,015.57 43,816.83 36,958.44 32,551.00 26,862.94 20,541.19 24,864.01 34,937.94
Liabilities
B Non-Current Liabilities
(a) Financial Liabilities
(i) Borrowings 4,106.25 3,301.78 2,688.10 1,993.38 1,472.27 1,054.40 294.80 263.06
(ia) Trade Payables 157.00 159.66 1.11
(ii) Other Financial Liabilities 3,207.57 2,477.84 1,590.02 802.51 1,354.56 1,164.92 1,042.76 1,219.41
(b) Provisions 68,827.95 65,944.00 63,540.59 60,223.45 52,380.16 50,024.48 43,778.11 41,542.71
(c) Deferred Tax Liabilities (net) 1,330.68 801.35 730.73 307.04
(d) Other Non-Current Liabilities 6,826.99 6,527.71 5,685.68 5,381.81 4,853.72 4,366.58 3,819.71 3,510.92
Total Non-Current Liabilities (B) 84,456.44 79,212.34 74,236.23 68,708.19 60,060.71 56,610.38 48,935.38 46,536.10
C Current Liabilities
(a) Financial Liabilities
(i) Borrowings 8.48 7.98 3,194.79 4,432.61 730.47 476.54 2,712.97 929.03
(ia) Lease Liabilities 59.69 44.22 0.23
(ii) Trade payables 8,549.18 8,603.53 8,473.14 7,250.96 9,417.97 6,974.40 3,884.31 3,297.15
(iii) Other Financial Liabilities 12,815.19 11,431.07 10,507.08 8,446.80 4,156.19 4,470.61 4,747.97 3,988.14
(b) Other Current Liabilities 32,313.94 30,897.32 22,889.38 22,156.48 24,966.55 24,364.36 21,524.07 15,092.01
(c) Provisions 14,963.38 6,224.39 5,522.28 6,781.44 6,826.62 12,033.19 11,146.51 8,047.83
(d) Current Tax Liabilities 24.78 0.00
Total Current Liabilities (C) 68,734.64 57,208.51 50,586.90 49,068.29 46,097.80 48,319.10 44,015.83 31,354.16
Total Equity and Liabilities (A+B+C) 2,11,206.65 1,80,237.68 1,61,781.57 1,50,327.48 1,33,021.45 1,25,470.67 1,17,815.22 1,12,828.20
002-115
IMPORTANT FINANCIAL INFORMATION

(H in crore)
Corporate Overview
A Related to Assets & Liabilities
1.i No. of Equity Shares (CIL) of H 10 each 6162728327 6162728327 6162728327 6162728327 6162728327 6207409177 6207409177 6316364400
1.ii Equity
1.ii.a Equity Share Capital 6162.73 6,162.73 6,162.73 6,162.73 6,162.73 6,207.41 6,207.41 6,316.36
116-332
1.ii.b Other Equity 51,082.16 36,980.31 30,354.63 25,994.19 20,292.41 13,971.33 18,310.68 28,516.80
1.ii.c Equity (1.ii.a + 1.ii.b) 57,244.89 43,143.04 36,517.36 32,156.92 26,455.14 20,178.74 24,518.09 34,833.16
1.ii.d Capital Reserve (excluding issue of bonus shares) 20.13 18.90 17.78 18.57 18.88 19.21 19.81 18.18
Statutory Reports
1.ii.e. Net Worth (1.ii.c - 1.ii.d) 57,224.76 43,124.14 36,499.58 32,138.35 26,436.26 20,159.53 24,498.28 34,814.98
2.i Long Term Borrowings excl. Current Maturities 4,106.25 3,301.78 2,688.10 1,993.38 1,472.27 1,054.40 294.80 263.06
2.ii Current Maturities of Long term Borrowings 8.45 7.80 7.59 7.78 7.20 6.78 115.89 6.70
2.iii. Long Term Borrowings incl. Current Maturities (2.i. + 2.ii.) 4,114.70 3,309.58 2,695.69 2,001.16 1,479.47 1,061.18 410.69 269.76
2.iv. Short Term Borrowings 8.48 7.98 3,194.79 4,432.61 730.47 476.54 2,712.97 929.03
2.v. Total Borrowings (incl. current maturity) (2.i.+2.iv.) 4,114.73 3,309.76 5,882.89 6,425.99 2,202.74 1,530.94 3,007.77 1,192.09
3.i Gross Property Plant & Eqipment 69,495.94 63,962.27 55,361.11 46,826.33 40,085.35 32,499.12 27,630.94 23,341.40
333-513
3.ii. Accumulated Depreciation/Impairment 25,047.97 21,264.48 17,607.46 14,523.98 11,538.92 8,439.14 5,594.95 2,678.85
3.iii. Net Property Plant & Eqipment (3.i. - 3.ii.) 44,447.97 42,697.79 37,753.65 32,302.35 28,546.43 24,059.98 22,035.99 20,662.55
3.iv. Net Other Fixed Assets 22,775.58 16,692.90 15,055.23 12,752.35 13,690.87 13,786.81 10,360.60 5,973.16
3.v. Other Non Current Assets 35,900.40 28,001.00 24,219.37 21,585.23 21,112.77 21,508.25 15,498.72 13,865.97
3.vi. Current Assets 1,08,082.70 92,845.99 84,753.32 83,687.55 69,671.38 66,115.63 69,919.91 72,326.52
3.vii. Total Assets (3.i. to 3.vi.) 2,11,206.65 1,80,237.68 1,61,781.57 1,50,327.48 1,33,021.45 1,25,470.67 1,17,815.22 1,12,828.20
3.viii. Current Liabilities 68,734.64 57,208.51 50,586.90 49,068.29 46,097.80 48,319.10 44,015.83 31,354.16
3.ix. Capital Employed (3.vii - 3.viii.) 1,42,472.01 1,23,029.17 1,11,194.67 1,01,259.19 86,923.65 77,151.57 73,799.39 81,474.04
4.i Trade Receivables 13,060.48 11,367.68 19,623.12 14,408.22 5,498.55 6,257.80 12,476.27 11,447.61
4.ii Cash & Cash Equivalents 5,665.38 7,063.48 5,112.40 2,791.10 2,302.36 3,997.67 4,193.91 4,876.40
4 iii Other Bank Balances 34,256.47 22,901.75 12,197.90 25,657.86 28,821.87 27,282.31 26,955.28 33,138.51
5.i Closing Stock of Coal (Net) 6,105.11 5,413.16 7,619.11 5,199.51 4,138.24 4,979.09 7,412.79 6,162.54
5.ii Closing Stock of Stores & Spares (Net) 1,932.13 1,561.64 1,125.27 1,183.75 1,209.19 1,231.92 1,316.73 1,212.69
5.iii Closing Stock Others (Net) 117.44 100.88 203.09 234.72 236.50 232.84 215.75 193.94
B Related to Proft/Loss
109
1.i Profit before Share of Joint Venture/Associate's profit/(loss) 38,008.95 23,624.87 18,012.21 24,072.49 27,128.87 10,770.31 14,446.33 21,439.80
1.ii Profit Before Tax 38,000.81 23,616.28 18,009.24 24,071.32 27,126.87 10,770.75 14,444.57 21,438.66
1.iii Profit After Tax/Profit for the period 28,124.94 17,378.42 12,702.17 16,700.34 17,464.42 7,038.44 9,279.77 14,266.78
1.iv Other Comprehensive Income 264.63 51.31 (635.51) (1,334.73) 17.38 642.82 82.00 294.41
1.v Total Comprehensive Income (1.iii.+1.iv.) 28,389.57 17,429.73 12,066.66 15,365.61 17,481.80 7,681.26 9,361.77 14,561.19

(H in crore)
2.i Gross Sales of Coal 1,87,455.57 1,52,603.30 1,26,786.13 1,34,979.13 1,40,603.00 1,26,543.97 1,22,286.96 1,08,147.54
2.ii Net Sales 1,27,627.47 1,00,562.57 82,710.32 89,373.34 92,896.08 81,111.26 75,602.86 75,641.78
2.iii. Other Operating Income 10,624.44 9,152.85 7,315.69 6,707.00 6,689.53 4,132.98 2,808.35 2,365.85
2.iv Revenue from Operations (net) (2.ii.+2.iii.) 1,38,251.91 1,09,715.42 90,026.01 96,080.34 99,585.61 85,244.24 78,411.21 78,007.63
Coal India Limited
3.i. Interest on Deposits & Investments (Interest Income) 3,069.09 1,612.55 1,509.47 3,309.66 3,167.04 2,770.90 3,536.11 4,747.97
3.ii. Dividend from Mutual Funds 0.00 11.01 3.94 157.44 243.36 180.85 194.49 265.09
3.iii. Other non-operating Income 3,481.57 2,257.85 2,229.42 2,977.86 2,426.66 2,023.13 1,593.61 927.52
3.iv. Total Other Income (3.i.+3.ii.+3.iii.) 6,550.66 3,881.41 3,742.83 6,444.96 5,837.06 4,974.88 5,324.21 5,940.58
3 Total Income (2.iv.+3.iv.) 1,44,802.57 1,13,596.83 93,768.84 1,02,525.30 1,05,422.67 90,219.12 83,735.42 83,948.21
4 Total Expenditure 1,06,793.62 89,971.96 75,756.63 78,452.81 78,293.80 79,448.81 69,289.09 62,508.41
4.i Employee Benefits Expenses 49,409.16 40,473.21 38,592.42 39,404.18 38,772.85 42,621.84 33,522.88 30,126.78
4.ii Cost of Materials Consumed 13,557.00 9,443.51 7,588.54 7,065.46 7,331.43 6,813.33 6,968.52 7,039.76
4.iii Power & Fuel 2,759.89 2,638.46 2,524.67 2,467.22 2,443.08 2,516.42 2,546.45 2,490.54
4.iv Finance Cost 684.31 541.49 642.24 502.92 263.68 430.10 409.18 386.16
4.v Depreciations & Amortisation 4,675.27 4,428.67 3,717.85 3,450.83 3,450.36 3,062.70 2,906.75 2,825.91
4.vi. Corporate Social Responsibility Expenses 586.50 548.98 449.31 587.84 416.47 483.78 489.67 1,082.16
4.vii. Stripping Activity Adjustment 3,809.11 3,760.86 1,450.37 5,541.87 5,071.19 3,358.25 2,672.21 2,811.42
4.viii. Provisions & Write Off 567.53 184.33 1,023.21 486.41 111.61 82.61 2,331.95 884.57
5 Cost of Goods Sold (4 - 4.iv.-4.vi.-4.vii.-4.viii.) 1,01,146.17 84,936.30 72,191.50 71,333.77 72,430.85 75,094.07 63,386.08 57,344.10
6 EBIT (1.ii.+ 4.iv.-3.i.) 35,616.03 22,545.22 17,142.01 21,264.58 24,223.51 8,429.95 11,317.64 17,076.85
7 EBITDA (6+4.v.) 40,291.30 26,973.89 20,859.86 24,715.41 27,673.87 11,492.65 14,224.39 19,902.76
8 Value added (1.ii.+4.iv.+4.v.+ 4.i.) 92,769.55 69,059.65 60,961.75 67,429.25 69,613.76 56,885.39 51283.38 54777.51
002-115 116-332 333-513

IMPORTANT FINANCIAL RELATIVE RATIOS
(H in crore)
Sl No Ratios 2023 2022 2021 2020 2019 2018 2017 2016
1 Debt Equity Ratio
1.i - Total Debt to Equity 0.07 0.08 0.16 0.20 0.08 0.08 0.12 0.03
1.ii - Long Term Debt to 0.07 0.08 0.07 0.06 0.06 0.05 0.02 0.01
Equity
2 Current Ratio 1.57 1.62 1.68 1.71 1.51 1.37 1.59 2.31
3 Return on Average Net 56.05% 43.65% 37.01% 57.02% 74.96% 31.50% 31.29% 37.59%
Worth
4 Return on Average 26.83% 19.25% 16.14% 22.60% 29.53% 10.96% 14.58% 20.65%
Capital Employed
5 Debtor Turnover Ratio 0.78 1.22 1.61 0.88 0.50 0.71 1.17 1.11
(as no. of months) of
Gross Sales
6 Inventory Turnover Ratio 0.68 0.92 1.07 0.79 0.76 0.80 1.29 1.14
(as no. of months) of
Cost of Goods Sold
7 EBITDA Margin on Net 31.57% 26.82% 25.22% 27.65% 29.79% 14.17% 18.81% 26.31%
Sales
8 Net Profit Margin on Net 22.04% 17.28% 15.36% 18.69% 18.80% 8.68% 12.27% 18.86%
Sales
9 Earning Per Share (H) 45.70 28.17 20.61 27.12 28.14 11.34 14.80 22.59
10 Book Value Per Share (H) 92.89 70.01 59.26 52.18 42.93 32.51 39.50 55.15
11 Market Price Per Share 213.65 183.05 130.35 140.05 237.20 283.30 292.65 291.95
(NSE) (H)
12 Price Earning Ratio 4.68 6.50 6.32 5.16 8.43 24.98 19.77 12.92
(P/E Ratio)
13 Dividend per Share (H) * 24.25 17.00 16.00 12.00 13.10 16.50 19.90 27.40
14 Dividend Payout Ratio 53.06% 60.35% 77.63% 44.25% 46.55% 145.50% 134.46% 121.29%
15 Market Capitalisation 1,31,666.69 1,12,808.74 80,331.16 86,309.01 1,46,179.92 1,75,855.90 1,81,659.83 1,84,406.26
(H in crore)
* Dividend per share includes Final Dividend and Interim Dividend. For FY 2022-23, final dividend of H 4.00 is subject to approval of shareholders in AGM.
Formulas
1 Value Added = Profit Before Tax + Finance Cost + Depreciation & Amortisation + Employee Benefit Expenses
2 Equity = Equity Share Capital + Other Equity
3 Total Debt to Equity = Borrowings/Equity
4 Long Term Debt to Equity = (Long Term Borrowings + Current Maturity of Long Term) / Equity
5 Current Ratio= Current Assets / Current Lilabilities
6 Return on Average Net Worth (%) = Profit After Tax (Profit for the period) / Average Net Worth
7 Capital Employed = Total Assets - Current Liabilities
8 EBIT (Earning Before Interest & Tax) = Profit Before Tax + Finance Cost - Interest Income
9 Return on Average Capital Employed = EBIT/Average Capital Employed
10 Debtors Turnover Ratio = Average Debtors (net of Provision) /Gross Sales *12
11 Cost of Goods Sold = (Total Expenditure -Finance Cost - Write off - Provision-CSR-Stripping Activity Adjustment)
12 Inventory Turnover Ratio = Average Inventory of Coal /Cost of Goods Sold *12
13 EBITDA (Earning Before Interest,Tax, Depreciation & Amortisation) = Profit Before Tax + Finance Cost + Depreciation &
Amortisation - Interest Income
14 EBITDA Margin = EBITDA/Net Sales
15 Earning Per Share = Profit After Tax (Profit for the period) / Weighted Average Number of Equity Shares
16 Book Value Per Share = Equity / Number of Equity Shares
17 Price Earning Ratio (P/E Ratio) = Market Price per Share /Earning Price per Share
18 Dividend Payout Ratio = Dividend Per Share/Earning Per Share

(H in crore)
Sl No For The Year Ending 31st March 2015 2014 2013 2012 2011
A Earned From
1 Gross Sales (Coal) 95,434.76 89,216.86 88,281.32 78,410.38 60,240.90
Less: Excise Duty & Other Levies (23,420.14) (20,406.84) (19,978.58) (15,994.95) (10,011.62)
2 Net Sales 72,014.62 68,810.02 68,302.74 62,415.43 50,229.28
3.i Facilitation charges for coal import 0.30
3.ii Subsidy for Sand Stowing & Protective Works 78.19 99.89 79.51 67.48 76.83
3.iii Recovery of Transportation & Loading Cost (Net) 2,026.96 1,697.61 1469.02 1,376.04 1,218.88
3 Other Operating Revenue (Net) (3.i. to 3.iii.) 2,105.45 1,797.50 1548.53 1,443.52 1,295.71
4.i Interest on Deposits & Investments 5,297.89 5,566.77 6216.71 5,317.77 2,964.34
4.ii Dividend from Mutual Funds 279.60 241.63 140.49 27.97 0.33
4.iii Other non-operating Income 993.15 1,363.48 840.96 747.64 611.76
4 Other Income (4.i. to 4.iii.) 6,570.64 7,171.88 7198.16 6,093.38 3,576.43
TOTAL (A) 80,690.71 77,779.40 77049.43 69,952.33 55,101.42
B Paid to / Provided for
1.i Salary, Wages, Allowances ,Bonus etc. 21,217.34 20,615.96 18,930.24 16,571.73 13,296.31
1.ii Contribution to P.F. & Other Funds 2,563.73 2,470.01 2,291.46 1,778.31 1,697.84
1.iii Gratuity 1,121.60 514.51 1,456.83 3,944.09 1,482.09
1.iv Leave Encashment 949.42 601.34 833.21 804.67 686.11
1.v Others 4,022.03 3,712.58 4,094.26 3,317.70 2,706.85
1 Employee Benefits Expenses (1.i. to 1.v.) 29,874.12 27,914.40 27,606.00 26,416.50 19,869.20
2 Cost of Materials Consumed 7,256.44 7,022.05 6,062.11 5,504.07 5,272.82
3 Changes in inventories of finished goods/work (530.48) 92.65 493.92 (381.04) (1,214.97)
in progress and Stock in trade
4 Power Expenses 2,347.28 2,282.23 2,333.48 2,012.52 1,749.48
5 Corporate Social Responsibility Expenses 298.10 409.37 140.13 104.12 94.70
6 Repairs 1,122.73 985.18 822.40 645.71 657.36
7 Contractual Expenses 8,512.62 6,827.53 5,801.97 4,900.97 4,624.50
8 Finance Costs 7.32 58.00 45.17 53.98 73.70
9 Depreciation/Amortization/Impairment 2,319.80 1,996.41 1,812.97 1,969.22 1,765.40
10 Overburden Removal Adjustment 3,826.70 3,286.56 3,201.74 3,693.89 2,618.47
11 Provisions & Write Off 993.80 1,154.53 927.10 1,469.84 578.84
12 Other Expenses 3,083.36 2,872.36 2,830.26 2,381.04 2,501.28
13 Prior Period Adjustment/ Exceptional Items (5.00) (1.41) (6.86) (91.15) 47.40
TOTAL (B) 59,106.79 54,899.86 52,070.39 48,679.67 38,638.18
Profit Before Tax (A - B) 21,583.92 22,879.54 24,979.04 21,272.66 16,463.24
Less: Tax Expenses (7,857.30) (7,767.90) (7,622.67) (6,484.45) (5,595.88)
Profit/(loss) from discontinuing operation (0.01) (0.01) (0.01) (0.01) (0.01)
Share of Minority 0.09 0.04
Profit After Tax 13,726.70 15,111.67 17,356.36 14,788.20 10,867.35
Dividend for the year 13,074.88 18,317.46 8,842.91 6,316.36 2,463.38
Corporate Dividend Tax 2,424.55 2,825.27 1,323.23 1,183.56 897.74
Transfer to General Reserve 2,578.50 2,827.44 2,508.92 2,143.24 1,471.94
Transfer to CSR Reserve 231.28 220.82 231.22 168.12
Other Transfers & Adjustments 410.13 31.30 (70.36) 115.77 7.74
Retained Surplus/ (Deficit) for the year (4,761.36) (9,121.08) 4,530.84 4,798.05 5,858.43
Cumulative Profit/Loss from Last year 15,515.36 24,636.44 20,105.60 15,307.55 9,449.12
Cumulative Profit/Loss in Balance Sheet 10,754.00 15,515.36 24,636.44 20,105.60 15,307.55
* The above financials are prior to implementation of Ind As

002-115 116-332 333-513

FINANCIAL POSITION
(H in crore)
Sl No As at 31st March 2015 2014 2013 2012 2011
A What is owned
Gross Fixed Assets (Tangible & Intangible) 4,4807.98 41,479.46 39,010.67 38,096.41 36,714.12
Less: Depreciation, Impairment & Provisions (28,692.94) (26,695.07) (25,544.91) (24,656.12) (23,870.81)
1 Net Carrying Value of Fixed Assets 16,115.04 14,784.39 13,465.76 13,440.29 12,843.31
2 Capital WIP & Intangible Assets under 5,159.37 4,315.81 3,495.95 2,903.38 2,057.16
Development
3 Non-Current Investments 963.05 1,187.58 1,400.30 946.99 850.96
4 Deferred Tax Assets (Net) 1,959.62 1,971.74 2,255.02 1,194.06 873.23
5 Long-Term Loans & Advances 1,688.22 1,163.66 1,181.36 1,017.25 845.35
6 Other Non-current Assets 6,776.65 5,259.55 2,118.00 2,000.21 1,500.77
7 Current Assets
7.i.a Inventory of Coal (Net) 4,712.16 4,154.61 4,301.16 4,801.14 4,439.82
7.i.b Inventory of Stores & Spares (Net) 1,245.17 1,167.16 1,117.90 1,126.45 1,038.17
7.i.c Other Inventories 226.49 246.30 198.77 143.69 107.62
7.ii Trade Receivables 8,521.88 8,241.03 10,480.21 5,662.84 3,456.98
7.iii Cash & Bank Balances 47,268.89 47,722.60 60,192.17 56,271.86 44,382.00
7.iv Current Investments 1,850.39 2,587.32 994.66 1,034.41 212.73
7.v Short term Loans & Advances 8,826.80 6,596.06 4,919.81 13,478.19 1,1180.14
7.vi Other Current assets 5,227.73 4,844.54 4,174.74 2,965.50 2,125.75
Total Current Assets (7.i.a. to 7.vi.) 77,879.51 75,559.62 86,379.42 85,484.08 66,943.21
8 Current Liabilities & Provisions
8.i Short Term Borrowings 200.11 0.32 32.60
8.ii Trade Payables 920.76 805.08 837.17 829.02 645.45
8.iii Other Current Liabilities 20,596.67 18,070.40 16,385.71 17,832.16 13,601.00
8.iv Short Term Provisions 7,691.96 6,300.60 9,761.53 16,039.27 12,757.37
Total Current Liabilities & Provisions (8.i. to 8.iv.) 29,409.50 25,176.40 26,984.41 34,700.45 27,036.42
9 Net Current Assets (7-8) 48,470.01 50,383.22 59,395.01 50,783.63 39,906.79
TOTAL (A) 81,131.96 79,065.95 83,311.40 72,285.81 58,877.57
B What is owed
Share Capital 6,316.36 6,316.36 6,316.36 6,316.36 6,316.36
Reserves & Surplus 34,036.71 36,088.10 42,155.63 34,136.66 26,997.84
1 Shareholders' Fund 40,353.07 42,404.46 48,471.99 40,453.02 33,314.20
2 Long Term Borrowings 201.83 171.46 1,077.79 1,305.35 1,333.76
3 Other Long Term Liabilities 3,999.44 3,528.94 3,137.21 2,647.03 2,057.39
4 Long Term Provisions 36,511.79 32,897.49 30,560.81 27,826.81 22,139.61
TOTAL (B) 81,066.13 79,002.35 83,247.80 72,232.21 58,844.96
C Minority Interest 65.83 63.60 63.60 53.60 32.61
TOTAL (B) + (C) 81,131.96 79,065.95 83,311.40 72,285.81 58,877.57

(H in crore)
Sl No For The Year Ending 31st March 2015 2014 2013 2012 2011
A Related to Assets & Liabilities
1.i No. of Equity Shares (CIL) of H 10 each 6316364400 6316364400 6316364400 6316364400 6316364400
1.ii Equity
1.ii.a Equity Share Capital 6,316.36 6,316.36 6,316.36 6,316.36 6,316.36
1.ii.b Reserve & Surplus 34,026.97 36,075.50 42,144.45 34,124.40 26,988.97
1.ii.c Equity (1.ii.a + 1.ii.b) 40,343.33 42,391.86 48,460.81 40,440.76 33,305.33
1.ii.d Capital Reserve (excluding issue of bonus shares) 9.74 12.60 11.18 12.26 8.87
1.ii.e. Net Worth (1.ii.c - 1.ii.d) 40,333.59 42,379.26 48,449.63 40,428.50 33,296.46
2.i Long Term Borrowings excl. Current Maturities 201.83 171.46 1,077.79 1,305.35 1,333.76
2.ii Current Maturities of Long term Borrowings 6.38 6.36 227.51 222.03 187.21
2.iii. Long Term Borrowings incl. Current Maturities 208.21 177.82 1,305.30 1,527.38 1,520.97
(2.i. + 2.ii.)
2.iv. Short Term Borrowings 200.11 0.32 0.00 0.00 32.60
2.v. Total Borrowings (incl. current maturity) (2.i.+2.iv.) 401.94 171.78 1,077.79 1,305.35 1,366.36
3.i Gross Fixed Assets 44,807.98 41,479.46 39,010.67 38,096.41 36,714.12
3.ii. Accumulated Depreciation/Impairment 28,692.94 26,695.07 25,544.91 24,656.12 23,870.81
3.iii. Net Property Plant & Eqipment (3.i. - 3.ii.) 16,115.04 14,784.39 13,465.76 13,440.29 12,843.31
3.iv. Net Other Fixed Assets 5,159.37 4,315.81 3,495.95 2,903.38 2,057.16
3.v. Other Non Current Assets 11,387.54 9,582.53 6,954.68 5,158.51 4,070.31
3.vi. Current Assets 77,879.51 75,559.62 86,379.42 85,484.08 66,943.21
3.vii. Total Assets (3.i. to 3.vi.) 1,10,541.46 1,04,242.35 1,10,295.81 1,06,986.26 85,913.99
3.viii. Current Liabilities 29,409.50 25,176.40 26,984.41 34,700.45 27,036.42
3.ix. Capital Employed (3.vii - 3.viii.) 81,131.96 79,065.95 83,311.40 72,285.81 58,877.57
4.i Trade Receivables 14,408.22 5,498.55 6,257.80 8,689.16 12,476.27
4.ii Cash & Bank Balances 47,268.89 47,722.60 60,192.17 56,271.86 44,382.00
5.i Closing Stock of Coal (Net) 4,712.16 4,154.61 4,301.16 4,801.14 4,439.82
5.ii Closing Stock of Stores & Spares (Net) 1,245.17 1,167.16 1,117.9 1,126.45 1,038.17
5.iii Closing Stock Others (Net) 226.49 246.3 198.77 143.69 107.62
B Related to Proft/Loss
1.i Profit Before Tax 21,583.92 22,879.54 24,979.04 21,272.66 16,463.24
1.ii Profit After Tax 13,726.70 15,111.67 17,356.36 14,788.20 10,867.35
2.i Gross Sales of Coal 95,434.76 89,216.86 88,281.32 78,410.38 60,240.90
2.ii Net Sales 72,014.62 68,810.02 68,302.74 62,415.43 50,229.28
2.iii. Other Operating Income 2,105.45 1,797.50 1,548.53 1,443.52 1,295.71
2.iv Revenue from Operations (net) (2.ii.+2.iii.) 74,120.07 70,607.52 69,851.27 63,858.95 51,524.99
3.i. Interest on Deposits & Investments (Interest Income) 5,297.89 5,566.77 6,216.71 5,317.77 2,964.34
3.ii. Dividend from Mutual Funds 279.60 241.63 140.49 27.97 0.33
3.iii. Other non-operating Income 993.15 1,363.48 840.96 747.64 611.76
3.iv. Other Income (3.i + 3.ii.+ 3.iii.) 6,570.64 7,171.88 7,198.16 6,093.38 3,576.43
3.v. Total Income (2.iv.+3.iv.) 80,690.71 77,779.40 77,049.43 69,952.33 55,101.42
4 Total Expenditure 59,106.79 54,899.86 52,070.39 48,679.67 38,638.18
4.i Employee Benefits Expenses 29,874.12 27,914.40 27,606.00 26,416.50 19,869.20
4.ii Cost of Materials Consumed 7,256.44 7,022.05 6,062.11 5,504.07 5,272.82
4.iii Power & Fuel 2,347.28 2,282.23 2,333.48 2,012.52 1,749.48
4.iv Finance Cost 7.32 58.00 45.17 53.98 73.70
4.v Depreciations & Amortisation 2,319.80 1,996.41 1,812.97 1,969.22 1,765.40
4.vi. Corporate Social Responsibility Expenses 298.10 409.37 140.13 104.12 94.70
4.vii. Overburden Removal Adjustment 3,826.70 3,286.56 3,201.74 3,693.89 2,618.47
4.viii. Provisions & Write Off 993.80 1,154.53 927.10 1,469.84 578.84
5 Cost of Goods Sold (4 - 4.iv.-4.vi.-4.vii.-4.viii.) 53,980.87 49,991.40 47,756.25 43,357.84 35,272.47
6 EBIT (1.ii.+ 4.iv.- 3.i.) 16,293.35 17,370.77 18,807.50 16,008.87 13,572.60
7 EBITDA (6+4.v.) 18,613.15 19,367.18 20,620.47 17,978.09 15,338.00
8 Value added (1.ii.+4.iv.+4.v.+ 4.i.) 53,785.16 52,848.35 54,443.18 49,712.36 38,171.54
002-115 116-332 333-513

IMPORTANT FINANCIAL RELATIVE RATIOS
(H in crore)
Sl No Ratios 2015 2014 2013 2012 2011
1 Debt Equity Ratio
1.i - Total Debt to Equity 0.01 0.00 0.02 0.03 0.04
1.ii - Long Term Debt to Equity 0.01 0.00 0.03 0.04 0.05
2 Current Ratio 2.65 3.00 3.20 2.46 2.48
3 Return on Average Net Worth 33.19% 33.28% 39.06% 40.12% 36.79%
4 Return on Average Capital Employed 20.34% 21.40% 24.17% 24.41% 30.80%
5 Debtor Turnover Ratio (as no. of months) of Gross 1.25 0.79 1.02 1.62 1.46
Sales
6 Inventory Turnover Ratio (as no. of months) of 0.99 1.01 1.14 1.28 1.30
Cost of Goods Sold
7 EBITDA Margin on Net Sales 25.85% 28.15% 30.19% 28.80% 30.54%
8 Net Profit Margin on Net Sales 19.06% 21.96% 25.41% 23.69% 21.64%
9 Earning Per Share (H) 21.73 23.92 27.63 23.47 17.19
10 Book Value Per Share (H) 63.87 67.11 76.72 64.03 52.73
11 Market Price Per Share (NSE) (H) 362.90 288.75 309.10 343.90 346.50
12 Price Earning Ratio (P/E Ratio) 16.70 12.07 11.19 14.65 20.16
13 Dividend per Share (H) 20.70 29.00 14.00 10.00 3.90
14 Dividend Payout Ratio 95.26% 121.24% 50.67% 42.61% 22.69%
15 Market Capitalisation (H in crore) 2,29,220.86 1,82,385.02 1,95,238.82 2,17,219.77 2,18,862.03
Formulas
1 Value Added = Profit Before Tax + Finance Cost + Depreciation & Amortisation + Employee Benefit Expenses
2 Equity = Equity Share Capital + Other Equity
3 Total Debt to Equity = Borrowings/Equity
4 Long Term Debt to Equity = (Long Term Borrowings + Current Maturity of Long Term) / Equity
5 Current Ratio= Current Assets / Current Liabilities
6 Return on Average Net Worth (%) = Profit After Tax / Average Net Worth
7 Capital Employed = Total Assets - Current Liabilities
8 EBIT (Earning Before Interest & Tax) = Profit Before Tax + Finance Cost - Interest Income
9 Return on Average Capital Employed = EBIT/Average Capital Employed
10 Debtors Turnover Ratio = Average Debtors (net of Provision) /Gross Sales *12
11 Cost of Goods Sold = (Total Expenditure -Finance Cost - Write off - Provision-CSR-Stripping Activity Adjustment)
12 Inventory Turnover Ratio = Average Inventory of Coal /Cost of Goods Sold *12
13 EBITDA (Earning Before Interest,Tax, Depreciation & Amortisation) = Profit Before Tax + Finance Cost + Depreciation &
Amortisation - Interest Income
14 EBITDA Margin = EBITDA/Net Sales
15 Earning Per Share = Profit After Tax / Weighted Average Number of Equity Shares
16 Book Value Per Share = Equity / Number of Equity Shares
17 Price Earning Ratio (P/E Ratio) = Market Price per Share /Earning Price per Share
18 Dividend Payout Ratio = Dividend Per Share/Earning Per Share

DIRECTORS’ REPORT
To
The Members,
Coal India Limited
Ladies and Gentlemen, 3. CIL coal off-take of 694.69 MTs in 2022-23 is the
highest whopping 32.80 MT increase over 2021-22.
On behalf of the Board of Directors, I have great pleasure in
presenting to you, the 49th Annual Report of Coal India Limited 4. ERP implemented and have become live across all
(CIL) and Audited Accounts for the year ended 31st March, 2023 subsidiaries of Coal India Limited as a result for the
together with the reports of Statutory Auditors and Comptroller first time CIL was able to declare its Financial Results
and Auditor General of India thereon. within 37 days from the closure of financial year.
Coal India Limited (CIL) is a ‘Maharatna’ company under the 5. 19% (Nineteen Percent) Minimum Guaranteed Benefit
Ministry of Coal, Government of India with headquarter at (MGB) w.e.f. 01.07.2021 on emoluments (i.e. Basic,
Kolkata, West Bengal. CIL is the single largest coal producing VDA, SDA & Attendance Bonus) as on 30.06.2021
company in the world and one of the largest corporate and 25% increase in allowances have been granted in
employers with manpower of 239210 (as on 1st April, 2023). CIL NCWA XI to Non-executives.
operates through 83 mining areas spread over eight (8) states of
6. The President of India (acting through the Ministry
India. Coal India Limited has 322 mines (as on 1st April, 2023) of
of Coal, Government of India), the promoter of the
which 138 are underground, 171 opencast and 13 mixed mines.
Company has sold 9,24,40,924 equity shares of face
CIL has eleven fully owned subsidiary companies viz. Eastern value of H 10 each in Offer For Sale ( OFS) (representing
Coalfields Limited (ECL), Bharat Coking Coal Limited (BCCL), 1.50% of the total paid up equity share capital of the
Central Coalfields Limited (CCL), Western Coalfields Limited Company) on June 1, 2023 (for Non-Retail Investors
(WCL), South Eastern Coalfields Limited (SECL), Northern only) and on June 2, 2023 (for Retail Investors and
Coalfields Limited (NCL), Mahanadi Coalfields Limited (MCL), for Non-Retail Investors who choose to carry forward
Central Mine Planning & Design Institute Limited (CMPDIL), CIL their un-allotted bids) with an option to additionally
Navikarniya Urja Limited for development of non-conventional/ sell 9,24,40,924 equity shares (representing 1.50% of
clean & renewable energy and CIL Solar PV Limited for the total paid up equity share capital of the Company).
development of solar photovoltaic module. CIL has a foreign Hence, they have sold 18,48,81,848 equity shares
subsidiary in Mozambique namely Coal India Africana Limitada (representing 3.00% of the total paid up of the equity
(CIAL). Further CIL has five Joint Venture companies- Hindustan share capital) of the Company to Non-Retail Investors
Urvarak & Rasayan Limited, Talcher Fertilizers Ltd., CIL and Retail Investors on the basis of valid bids received
NTPC Urja Pvt. Ltd., Coal Lignite Urja Vikas Private Limited & on June 1, 2023 and June 2, 2023. The total proceeds
International Coal Venture Private Limited. of the OFS aggregates to H 4185.31 crore. In addition,
16,767 equity shares have been transferred by the
The mines in Assam i.e. North Eastern Coalfields (NEC) is president of India for allotment under 'Employee OFS'
managed directly by CIL. amounting to H 37.91 Lakhs.
Mahanadi Coalfields Limited, a subsidiary of Coal India Ltd is

having four (4) Subsidiaries, SECL has two (2) Subsidiaries and 2. FINANCIAL PERFORMANCE
CCL has one (1) subsidiary.
2.1 Financial Results (CIL Consolidated)
1. STATE OF COMPANY AFFAIRS For the Financial Year 2022-23 CIL has achieved an
aggregate Profit Before Tax of H 38,000.81 crore and Profit
1. CIL produced 703.20 MT during 2022-23 which is After Tax of H 28,124.94 crore as against Profit Before Tax of
the highest production achieved since its inception. H 23,616.28 crore and Profit After Tax of H 17,378.42 crore
Production for the year represented an increase in 2021-22. The subsidiary wise details of Pre-tax Profit are
of 80.57 MTs i.e. 12.94 % growth over last year’s given in Annexure 1.
production of 622.63 MTs.
2. MCL became the highest coal producing subsidiary for

the financial year 2022-23.
002-115 116-332 333-513
Highlights of performance
The performance highlight of Coal India Limited (Consolidated) for the Financial Year 2022-23 compared to the previous year are
shown in the table below:
As on As on
Particulars
31-03-2023 31-03-2022
Production of Coal (in million tonnes) 703.204 622.634
Off-take of Coal (in million tonnes) 694.689 661.885
Sales (Gross) (H/crore) 187455.57 152603.30
Closing Capital Employed (H/crore) 142472.01 123029.17
Net Worth (H/crore) 57224.76 43124.14
Profit Before Tax (H/crore) 38000.81 23616.28
Profit for the Year (H/crore) 28124.94 17378.42
Total Comprehensive Income for the year (H/crore) 28389.57 17429.73
Return on Average Capital Employed (%) 26.83 19.25
Return on Average Net Worth (%) 56.05 43.65
Earnings Per Share (H) (Considering Face Value of H.10 per share) 45.70 28.17
Dividend per Share (H)* (Considering Face Value of H 10 per share) 24.25 17.00
Inventory Turnover Ratio (as no. of months) 0.68 0.92
Debtor Turnover Ratio (as no. of months) 0.78 1.22
*Dividend per share includes Final Dividend and Interim Dividend. For FY 2022-23, final dividend of H 4.00 is subject to approval of shareholders in AGM.
Transfer to Reserves for the Financial Year 2022-23 on 07th May, 2023 which
is subject to the approval of shareholders in the Annual
During the Financial Year 2022-23, a sum of H 1326.83 crore
General Meeting (AGM) of the company to be held for the
(previous year H862.41 crore) was transferred to General
financial year 2022-23.
Reserves out of CIL Consolidated profits.
2.3 Supplementary Audit of Financial Statements by
2.2 Dividend Income and Pay Outs (CIL Standalone) Comptroller and Auditor General of India (C&AG).
While the financial statements of both CIL (Standalone
The comments of C&AG on supplementary audit under
and Consolidated) are presented separately, only CIL
Section 143 (6)(b) [and also read with Section 129 (4)] of
Standalone is listed and relevant for dividend payment to
the Companies Act, 2013 of Standalone and Consolidated
its shareholders. The dividend to its shareholders are paid
Financial Statements for the Financial Year 2022-23 are
out of CIL’s Standalone income, the major part of which
enclosed as (Annexure 3 and Annexure 4) along with
constitutes the dividend income received during Financial
Management explanation.
Year 2022-23 from its subsidiaries i.e. CCL,NCL,SECL,MCL
and CMPDIL. The breakup of such dividend received and 2.4 Management Explanation on Statutory Auditor’s
accounted for during the year from different subsidiaries Report
are given in Annexure 2.
The statutory auditors of the company have given an
Equity holding of Government of India of CIL stands at unqualified report [Annexure 3(A) and Annexure 4(A)] on
66.13% of Total Equity share capital as at 31st March, 2023. the Standalone Financial Statements and Consolidated
Financial Statements respectively of the company for the
During the Financial Year 2022-23, CIL Standalone had paid
financial year 2022-23. However, they have drawn attention
interim dividends aggregating H 12479.57 crore @ H 20.25
to certain matters under “Emphasis of Matters”.
per share against face value of H 10/- each fully paid up. Out
of above total interim dividend, the share of Government The emphasis of Matter paragraph point no. (i) and (ii) in
of India was H 8253.16 crore and for other shareholders, the audit report on Standalone Financial Statements and
H 4226.41 crore. (Previous Year – Total Interim Dividend H points (a) and (c) in the report on consolidated Financial
8627.82 crore; Government of India - H 5705.89 crore and Statements, are explained as under –
Other Shareholders – H 2921.93 crore).
(a) Regarding carrying forward of the input tax credit
Coal India has also paid final dividend of H 1848.82 crore on GST, the matter has been adequately explained
@ H 3.00 per share for Financial Year 2021-22. Out of final in footnote 4 to note 11 of Standalone Financial
dividend of Financial Year, the share of Government of India Statements and footnote 5 to note 11 of Consolidated
was H 1222.69 crore. Financial Statements respectively.
Further, Board of directors of the company have (b) In respect of transportation charges receivable from the
recommended a final dividend of H 4.00 per equity share customer, the matter has been adequately explained in
footnote 4 to note 13 of Consolidated Financial Statements.
(c) Holding company could not comply with regulation • During 2022-23, a total quantity of 53.38 MT was
17 read with Schedule II of SEBI (LODR) Regulations, successfully allocated under e-auction compared
2015 due to the non-availability of Independent Women to 108 MT during FY’22. The premium over notified
Directors, since the power to appoint Directors vests prices stood at 252% during FY’23 compared to 88%
with the Administrative Ministry i.e. Ministry of Coal, premium fetched in FY’22. In absolute terms the gain
Govt. of India. over the notified price was H 22,832 crore in FY’23
compared against H 12,188 crore in FY’22.
3. COAL MARKETING 3.2 Long term demand creation
3.1 Sale of Coal • Additional long term demand is created through
linkages allotted through the following schemes:
• The raw coal offtake during 2022-23 stood at its
highest ever level of 694.69 Million Tonnes (MT) in A. Scheme for Harnessing and Allocating Koyala
comparison to 661.89 MT during 2021-22. The offtake (Coal) transparently in India (SHAKTI), for Power
in 2022-23 recorded a growth of 5% over 2021-22 Sector notified by the government on 22.5.2017
breaking all previous records of offtake and wagon and subsequently amended vide MOC letter
loading performance. dated 25.03.2019.
Company-wise target vis-à-vis actual off-take for B. Auction of coal linkages to Non-Regulated Sector
2022-23 and 2021-22 are shown in Annexure-5. (NRS) notified by the government on 15.2.2016.
• Some constraints hampered dispatch in 2022-23 A. SHAKTI:

which can be listed as under:
SHAKTI Policy contains provisions for coal supply for
o Constraints in availability of rakes especially in various categories of power plants fulfilling different
Mahanadi Coalfields Limited (MCL) and South criteria.
Eastern Coalfields Limited (SECL).
Until 2022-23, Ministry of Coal (MoC) has recommended
o Production constraints at Rajmahal mine of for signing of FSA with 9 Thermal Power Plants (TPPs)
Eastern Coalfields Limited (ECL) due to land under the provisions of Para A(i) of SHAKTI for an
acquisition issue resulting in less coal dispatch. Annual Contracted Quantity of 32.255 MT and FSAs
have been signed with 8 TPPs for the ACQ of 31.155
o Sporadic law and order issues at some of the
MT. Also, on the recommendation of SLC (LT), FSAs
coalfields.
have been signed under the provisions of Para B(i) of
o Extended and unseasonal rainfall hampered the SHAKTI with 13 Central/State Gencos for an ACQ of
transportation and dispatch especially at Western 47.439 MT as on 31.3.2023.
Coalfields Limited (WCL).
During FY 22-23, Fifth round of SHAKTI B(ii) long term
• 586.57 MT of coal was despatched to the major linkage auction was conducted wherein a quantity
consumer, power sector. Sector-wise break-up of of 0.049 MT was successfully allocated at average
despatch of coal & coal products for 2022-23 against discount of 12 paise/PPA unit(kWh). Till date, in the
the target and last year’s actual is given in Annexure-6. five rounds of auction, linkages of 36.25 MTPA has
been successfully allocated to the power plants. The
• CCEA (Cabinet Committee on Economic Affairs) levellised discounts in tariff offered by the power plants
approved new mechanism of single window mode in five rounds of the auctions are in the range of 1p/
agnostic e-auction by clubbing the existing auction kWh to 12 p/kWh.
windows and introducing unified auction mechanism
irrespective of mode of transport. The decision of During this fiscal, CIL conducted three rounds of B(iii)
CCEA was communicated by MOC vide circular no. long/medium term linkage auction with a total offer of
CPD-23011/18/2021-CPD dated 21.03.2022. Pursuant 22.20 MT and successfully allocated 15.82 MT of coal
to the notification only Spot auction was conducted linkage at an average premium of 1.2% over notified
during FY’23. price. In the four rounds of the auction, conducted till
date, linkages of 22.31 MTPA has been booked by the
• Subsequent to notification for Single window auction power plants.
policy, CIL developed the modalities and a new e-auction
scheme namely ‘CIL e-auction Scheme 2022’ to Further, under para B (viii-a) covering para B (iii) of
implement the Single window mode agnostic e-auction. SHAKTI policy five tranches of short term linkage
CIL introduced the new e-auction policy as per CIL auctions were conducted during FY’23 wherein a total of
e-auction Scheme 2022 from 1st March’23 onwards 25.28 MT quantity was booked by the power plants with
across all Coal Companies replacing the Spot auction. average premium of 152.65% over the notified price
002-115 116-332 333-513
B. Auction of coal linkages to Non-Regulated Mitra SK Pvt Ltd through bidding process for collection,
Sector (NRS): preparation and analysis of coal samples at loading end for
power sector.
The coal against the linkages secured in the NRS linkage
auctions are supplied under the FSAs to be executed Out of 58 coal testing laboratories across the subsidiary
for a period of 5 years, except for Steel(coking) sector companies of CIL, 57 laboratories are now NABL accredited
where the tenure of FSA is 10 years. and accreditation process is underway in respect of another
01 laboratory.
During FY’23 CIL conducted linkage auction for
following subsectors under Tranche V & VI: As a result of conscious and continuous measures taken
towards quality maintenance, the gap between the
• During Nov’22, auction for others (coking) weighted average of declared and analyzed GCV of coal
subsector of tranche V was conducted wherein based on results received till 31.03.2023 for FY 2022-23 is
a quantity of 1 MT was booked at an average 03 Kcal/kg which is well within 1% of one GCV band.
premium of 195%.
3.4.2 Linkage Rationalization
• Tranche VI NRS linkage auction commenced
during Feb’23 with Sponge Iron subsector wherein Linkage rationalization initiatives to reduce the cost of
a quantity of 10.98 MT was booked at an average transportation of coal and cost of generation of power were
premium of 118%. continued during the year 2022-23 also. Under the ambit of
the linkage rationalization policy notified by the government
Moreover, in line with the enabling provision of NRS on 15.5.2018, sources of linkage for a quantity of 7.80 MTPA
Linkage auction policy 2016 for indexing of ROM for the IPPs was rationalized in 2021-22, yielding annual
price for supply of coal to NRS sector, CIL introduced potential savings in transportation cost by about H 457
Modulation of NRS price with Wholesale Price Index(on crore. In addition to that, CIL as per the request from the
year on year basis, w,e,f 01.04.2023) from Tranche VI State Gencos has rationalized for a quantity of 7.644 MTPA
NRS Linkage auction onwards. for the State Gencos in 2021-22 with an annual potential
savings in transportation cost of about H 624 crore.
3.3 Long term demand committed through FSAs:
3.5 Coal Beneficiation:
Considering the FSAs executed earlier with the power
plants under the provisions of NCDP and the FSAs CIL is presently operating 13 Coal Washeries with a total
executed under various provisions of SHAKTI, the operative operable washing capacity of 24.94 MTY. Out of these,
linkage for a total quantity of about 578 MTPA exists with 11 are coking coal washeries and balance 2 are non-
the Power Sector as on 31.3.2023, which is bound by long coking, with operable capacities of 13.94 MTY and 11 MTY
term supply commitments through FSAs excluding bridge respectively. The total washed coal production from the
linkage commitments. The bridge linkage commitments existing coking coal washeries during 2022-23 was about
as on 31.03.2023 stood at 30 MTPA, where coal supply is 2.155 MT, a growth of more than 33.7% from 2021-22.
based on best effort basis.
The construction of Madhuband Washery (5 MTY) is
The total FSA commitments for Non-Power consumers complete and is expected to be under commercial
including the FSAs of erstwhile regime, bridge linkage operation by May 2023. To enhance the beneficiation
and State Nominated Agencies stood at 87 MTPA as on capacity of coking coal, CIL is further setting up 3 new
31.03.2023. Washeries in BCCL having total throughput capacity of
7 MTY. Out of these, 2 are under construction (4.5 MTY)
Consumer satisfaction
and LoI has been issued for one (2.50 MTY). Additionally,
3.4.1 Quality Management 5 coking coal washeries are also being set up in CCL with
a total capacity of 14.5 MTY. Out of these 5 washeries, LoI
For enhanced customer satisfaction, special emphasis has have been issued for two numbers.
been given to Quality Management of coal from mine to
dispatch point. In addition to the above, CIL is also setting up a non-coking
coal washery at Ib Valley, Lakhanpur in MCL, which is under
Now, all the consumers of CIL have the option for quality an advanced state of construction and expected to be
assessment of the supplies through independent third- commissioned by 31st Jul’23.
party sampling agencies. In order to ensure supply of good
quality/sized coal, reputed global quality assurance service 3.6 Stock of Coal
providers namely SGS India Private Limited has been
The stock of coal at the close of the Financial Year 2022-23
engaged in addition to the existing third-party agencies
was H 6105.11 crore (previous year H 5413.16 crore), which
(Central Institute of Mining and Fuel Research (CIMFR) &
was equivalent to 0.57 months value of net sales (previous
Quality Council of India (QCI)) for undertaking the job of
year 0.65 months). The company-wise position of stock
sampling and analysis of coal samples at loading end in CIL
held on 31st March 2023 & on 31st March 2022 are given in
subsidiaries. Further on behalf of MoP, PFC empaneled M/S
Annexure 7.
3.7 Trade Receivables Power Plant, Revival of Fertilizer Plants, CBM, etc. during
2023-24.
Trade Receivables i.e. net dues outstanding as on 31st
March 2023, after providing H 2722.13 crore (previous
year H 2424.53 crore) for bad and doubtful debts, was H 5. POPULATION OF EQUIPMENT
13060.48 crore (previous year H 11367.68 crore) which is
The Population of Major Opencast Equipment (Heavy Earth
equivalent to 0.84 months Gross Sales of CIL as a whole
Moving Machinery) as on 01.04.2023 and as on 01.04.2022
(previous year 0.89 months). Subsidiary-wise break-up of
along with their Performance in terms of Availability and
Trade Receivables outstanding as on 31st March 2023 as
Utilization expressed as percentage of CIL Norms is
against 31st March 2022 are shown in Annexure 8.
disclosed in Annexure 11.
3.8. Payment of Royalty, Cess, Sales Tax, GST, Clean
About 460 nos. of old and outlived major HEMM have been
Energy Cess, & Others
surveyed-off and 35 Shovels, 109 Dumpers, 32 Dozers,
During the Financial Year 2022-23, CIL and its Subsidiaries 31 Drills and 3 Surface Miners were commissioned during
paid H 56524.11 crore towards Royalty, Cess, Sales Tax and 2022-23.
other levies as detailed as per details given in Annexure 9
In the Financial year 2023-24, CIL is planning to procure
High Capacity Equipment of more than H 2200 crore for
4. COAL PRODUCTION & FUTURE OUTLOOK enhanced coal production target in the coming years.
Raw coal production and production from underground

and opencast mines. 6. CAPACITY UTILIZATION
Production of raw coal was 703.20 Mill Te during 2022-23 During 2022-23, total volume of coal and overburden
against 622.63 Mill Te during 2021-22. Production from handled by CIL was about 2079 M. Cum. The overall system
Opencast mines during 2022-23 was 96.38% of total raw capacity utilization of CIL thus worked out to be about 85.80
coal production. %. This is a new high for CIL and surpassing the coveted
85% capacity utilization was a laudable achievement. While
Subsidiary wise production, production from underground the UG capacity utilization was 90.06%, the OC capacity
and opencast mines and coking and non-coking production utilization was 85.77%.
Washed Coal (Coking) Production-Subsidiary-wise production 7 STATUS OF PROJECT IMPLEMENTATION

of Washed Coal (Coking) is given in Annexure 10A.
7.1 Project Implementation:
Overburden Removal-Company-wise overburden removal
a) Projects Completed During the year 2022-23:
is disclosed in Annexure 10B.
03 coal projects with a sanctioned capacity of 4.02
FUTURE OUTLOOK
MTY and sanctioned capital of H 563.29 crore were
Based on the demand projection in ‘Vision 2024’ for coal completed with a total completion capital of H 584.39
sector in the country and subsequent demand projection crore during the year 2022-23. Details given in
on CIL, a roadmap has been prepared to project production Annexure 13.
plan in medium term wherein CIL has envisaged 1 Billion
b) Project started Production during the Year 2022-23:
Tonne (BT) coal production by the year 2025-26 and
beyond to meet the coal demand of the country. CIL has 06 projects have started coal production during the
already identified all resources required, including major year 2022-23. Details given in Annexure-13.
projects that will contribute to its 1 BT production plan and
its related issues/enablers like requirement of EC/FC, land, c) Status of Ongoing Projects (Costing J 20 crore &
evacuation constraints etc. CIL is committed to achieve 1 above):
BT production plan with the active support of MoC and all
117 coal projects with a sanctioned capacity of 928.7
other stake holders. CIL shall adhere to 1 BT coal production
Mty and sanctioned capital of H 139436.6 crore are in
plan but the demand scenario shall decide the production/
different stages of implementation, out of which 78
supply in future. The proposed capital expenditure for the
Projects are on schedule and 39 Projects are delayed.
year 2023-24 has been set at H 16600 crore. Further, as per
The major reasons for delay in implementation of
the investment plan, CIL has planned to invest substantial
these projects are delay in FC, possession of land
amount in diversification projects viz. Solar Power, Thermal
and issues related to R&R.
002-115 116-332 333-513
7.2 Projects Sanctioned (Costing J 20 crore & above): Funded by CIL on Deposit Basis:
a) PR/UCE/RPR/RCE sanctioned by CIL Board & 1) Tori-Shivpur New BG double line (44.37 KM) was
Subsidiary Board during 2022-23: funded by CIL and commissioned in December, 2019.
Construction for the third line is underway and targeted
24 Mining Projects with sanctioned capacity of 140.30 to be completed by Dec’2023. This shall enhance its
MTY and sanctioned capital of H 22130.22 crore were capacity to evacuate about 100 MTPA of coal from the
approved by CIL and Subsidiary Company Boards North Karanpura coalfield of CCL.
during 2022-23. Details are given in Annexure 13.
2) Jharsuguda –Barpali- Sardega New BG single line
b) Non-Mining Projects sanctioned by CIL & (52.41 KM) was funded by CIL and commissioned
Subsidiary Board during 2022-23: on April, 2018. Construction of doubling of this rail
line along with loading bulbs at Barpali and flyover
4 Non-Mining projects with a sanctioned capital of
complex at Jharsuguda is underway and targeted
H 1043.28 crore were approved during 2022-23. Details
to be completed by Dec’23. This shall enhance its
evacuation capacity to evacuate about 65 MTPA.
7.3 Key Strategies:
3) The Rail Connectivity of Lingaraj SILO with Deulbeda
Strategies for Coal Evacuation: siding at Talcher Coalfields of MCL (4.8 KM) to evacuate
about 5 MTPA was commissioned in May, 2021.
Company had adopted following strategies for development
of coal evacuation infrastructures: Funded through JVs/ SPVs by CIL:
First Mile Connectivity (FMC) Projects: 1) Mahanadi Coal Rail Ltd (MCRL) -Angul- Balram
rail link (14.22 Km) in Talcher coalfield, Odisha was
Under CIL’s flagship ‘First Mile Connectivity Projects’, executed by Rail JV, (MCRL Mahanadi Coal Rail Ltd)
61 Projects have been identified for implementation in and commissioned on 14.11.2022. It shall facilitate
three phases which will upgrade the mechanized coal evacuation of about 15 MTPA coal.
transportation and loading system.
2) Jharkhand Coal Rail Ltd (JCRL) - The Shivpur -
In the first phase, out of the planned 35 FMC Projects of Kathautia rail connectivity (49.09 KM) is being executed
414.5 MTPA capacity awarded at a capital investment of by Rail JV, JCRL (Jharkhand Coal Railway Limited).
H 10,750 crore 7 FMC Projects of 92 MTPA capacity have About 25 MTPA coal from the mines of CCL is planned
been commissioned till date. PG Test for Jayant FMC (15 to be evacuated through this line. Financial Closure
MTPA) commenced and is targeted to be completed by was achieved on 05.05.2022. Construction works have
Jun’23. The balance remaining projects are anticipated to commenced and the work progress is about 18%. The
be completed by FY 24-25. line is anticipated to be commissioned by March 2025.
In the second phase, out of the 9 FMC Projects of 57 3) Chhattisgarh East Rail Ltd (CERL) - East Rail Corridor
MTPA with an estimated investment of about H 2,500 crore, in the state of Chhattisgarh – CERL Phase – I of
construction work has started in 3 FMC Projects of 14 132 Km is being executed by Rail JV, CERL. Main
MTPA capacity and LOA/WO has been issued for 2 projects corridor between Kharsia to Dharamjaigarh (0-74 KM)
of 7.5 MTPA capacity. Tenders are under different stages was commissioned on 21st June’2021. Commercial
of formulation and approval for the remaining 4 projects. notification of Chaal feeder line was issued on
These projects are targeted to be completed by FY 24-25. 31.07.2022. Engine trial run on Baroud Feeder line
completed on 31.12.2022. Balance work of feeder
In the third phase, 17 projects with total capacity of 292
lines are in progress. It shall evacuate around 65
MTPA has been planned at an estimated investment of
MTPA of coal and anticipated to be commissioned by
about H 11,500 Cr for which tenders would be floated by FY
Dec’2023. In CERL Phase – II of 62.5 Km, between
25-26 and are targeted to be completed by FY 28-29.
Dharamjaigarh and Urga, Land acquisition is under
These FMC Projects shall enable increased mechanized process. The Phase- II works are anticipated to be
evacuation from 151 MTPA to 914.5 MTPA by FY 28-29. commissioned by March’2026.
Company expects improvement in coal quality, savings in under-
4) Chhattisgarh East West Rail Ltd (CEWRL) – East West
loading charges and a positive impact on the environment.
Rail Corridor in the state of Chhattisgarh is under
Status of Rail Projects: execution between Gevra Road and Pendra Road of
about 135 Km and shall facilitate to evacuate about
CIL had identified 07 Railway Projects for evacuation of 65 MTPA of coal from the mega projects of Korba
coal, out of which 03 were funded by CIL on deposit basis coalfield. Construction works under execution and
and 04 were funded through JVs/SPVs by CIL. The status work progress is about 35%. This rail line is anticipated
of these projects were as under: to be commissioned by December, 2024.
7.4 Achievement in Acquisition and Possession of 8. CONSERVATION OF ENERGY

land:
Conservation of energy always remains a priority
In all the subsidiaries of Coal India, the major portion of area and CIL/Subsidiaries have extensively exercised
land is possessed which were acquired under Coal Bearing various measures towards reduction in specific energy
Areas (Acquisition & Development) Act, 1957. During 2022- consumption.
23, notification U/S-9 (1) has been issued for 2582.14 Ha
and notification U/S-11 (1) has been issued for 1495.03 Ha 8.1 Energy Consumption scenario
of land.
Coal Production has increased by 12.9 % in 2022-23
During 2022-23, 2049.26 Ha of land had been taken compared to 2021-22 and there is increase in OB removal
physical possession in different Subsidiaries of Coal India by 297 MM3. Electricity consumption in CIL as a whole in
2022-23 was 4598.78 million units compared to 4571.40
7.5 System Improvement in Project Monitoring: million units in 2021-22, showing an increase of 0.60%.
Total amount paid towards energy Bill in 2022-23 was
CIL is currently executing a variety of projects, ranging H 3764.16 crore against H 3557.12 crore in 2021-22, an
across mining, washery, evacuation projects etc. In order increase of 5.82%.
to ensure smooth implementation of such projects, CIL is
continuously monitoring the ongoing progress through a • In terms of total coal production, specific energy
number of sophisticated project management mechanisms Consumption for CIL as a whole, during 2022-23 was
and tools. 6.54 KWh/T as against 7.34 KWH/T during 2021-22
with an overall decrease of 10.90%.
In order to capture the latest status of progress across all
work streams, CIL has adopted Project System (PS) module • In terms of composite production (in M3), Specific
of Enterprise Resource Planning (ERP). In PS module, all the Energy Consumption during 2022-23, for CIL as a
information related to Statutory Clearances (EC and FC), whole, was 2.19 KWh/m3 vis-à-vis 2.57 KWh/m3
Land, R&R, Infrastructure, etc are maintained and updated during 2021-22 with an overall decrease of 14.79%.
on a periodic basis. CIL has also developed standardised
and detailed project schedules (for all projects costing more 8.2 Electrical Energy Audits conducted in 2022-23
than H 20 crore) in PS module. This schedule monitoring
10 electrical energy audits were conducted by CMPDIL for
process helps to identify the bottlenecks, analyse the
different subsidiaries of CIL in 2022-23 (CCL-6 nos., NCL-
interdependencies and determining the critical action items
2 nos., BCCL-1 no., & ECL-1 no.). Energy Audit has been
which will expedite the project implementation.
done for 06 mines in CCL during 2022-23 namely Religarha
The actionable insights from this detailed project OCP, Parej East OCP, Dhori Khas UG, Rajrappa OCP,and
information are mapped on ERP Dashboards on real-time Govindpur Ph-II OCP & North Urimari OCP. In NCL energy
basis to enable expeditious decision making by the senior audit was undertaken in Dudhichua OCP & Bina OCP. In
management. BCCL it was taken up in AB OCP. In ECL the audit was
done in Rajmohal OCP. Estimated saving from energy
7.6 One Billion Coal Production Programme: conservation measures in the above mines shall be around
135.31 lakh KWh per year with an estimated reduction of H
Currently, coal is the primary source of energy in the 971.35 lakhs per year in power bill.
domestic market and CIL supplies more than 80% of
the total domestic coal production. Therefore, CIL has a 8.3 Energy Conservation measures
responsibility to meet the energy demands of the country
and it plays a key role in determining the energy dynamics Some of the salient measures taken by CIL/Subsidiaries for
of domestic consumption. energy conservation are as under:
Keeping in mind the future domestic demand, CIL has A. Energy Efficiency Measures in 2022-23:-
envisaged a strategic production roadmap to achieve 1
a) Use of LED lights - High wattage luminaries /
billion tons of coal production in FY 2025-26. The 1 BT plan
conventional light fittings have been replaced
was based on optimal production from all the subsidiaries
with low power consuming LEDs of appropriate
of CIL and it charted out all the enabling activities to
wattage in majority of the places for quarry lighting,
achieve this ambitious target. The enabling activities
UG mine lighting, street lighting, office and other
include obtaining statutory clearances, acquisition and
work places, townships etc., thereby resulting in
possession of land, ensuring R&R, procuring equipment
huge saving in electricity consumption. 1,57,216
and developing evacuation infrastructure (like rail lines and
LED lights (ECL-2794, MCL-23633, WCL-24150,
coal handling plants).
NCL-33582, BCCL-17196, SECL-34119, CCL-
15851& CIL HQ- 5891 nos.) of different wattage
rating have been installed during 2022-23.
002-115 116-332 333-513
b) Energy Efficient ACs –1679 energy efficient B. Improvement in Power Factor - Almost all the areas
ACs have been replaced / installed in different of the subsidiary companies have maintained Power
subsidiaries of CIL. Factors from 0.90 to 0.99 during 2022-23 by installing
capacitor banks of appropriate KVAR rating. During
c) Super Fans – 18626 high energy efficient super fans 2022-23, 54690 KVAR of capacitor banks have been
have been installed in different subsidiaries of CIL. procured and installed at subsidiaries.
d) E-Vehicles – 71 e-vehicles have been deployed in C. Installation of Ground & Roof Mounted Solar
different subsidiaries of CIL. Power Plant in different command areas of CIL:
e) Energy Efficient Water Heaters – 625 energy • Additional roof top solar capacity added during
efficient water heaters have been installed at 2022-23 – 3.393 MWp
different places in CIL subsidiaries
• Work has been awarded for installation of 300
f) Energy Efficient Motors – 169 existing old MW capacities of ground mounted solar plants.
motors have been replaced with energy efficient Installation work is in progress and expected to be
motors in different subsidiaries of CIL. commissioned by FY 2023-24.
g) Auto Timers in Street Lights – 1016 auto timers

have been installed at different places in CIL
subsidiaries.
8.4 Solar Energy generation:
CIL & Subsidiary Companies are pursuing use of renewable energy sources. Subsidiary wise Solar energy generation in 2022-23
are as under:
H in crore
Total Power Generation
Sl. Solar Power
Subsidiary (KWH) [during the period
No. Capacity (kWp)
01.04.2022 to 31.03.2023]
1 CCL 1245.0 819108
2 ECL 1046.0 712075
3 MCL 3149.7 2065849
4 SECL 580.0 121646
5 WCL 1997.0 1174908
6 BCCL 1550.0 785025
7 NCL 470.0 288999
8 CMPDIL 1020.0 787650
9 CIL HQ 160.0 81057
Total 11217.7 6836317
The total solar energy generated during 2022-23 was 68.36 Lakh units.
8.5 Anticipated benefit of Carbon Neutrality due to 9. CAPITAL EXPENDITURE

solar projects & Energy Efficiency Measures:-
Overall Capital Expenditure during Financial Year 2022-
• During 2022-23 due to implementation of energy 23 was H 18619.27 crore as against H15400.96 crore in
efficiency measures, around 52.10 million units of previous year. Capital Expenditure incurred during 2022-23
electrical energy has been saved which shall result was 112.84% of BE (104.88% in 2021-22). Subsidiary-wise
into reduction of 42,725 Tonnes of CO2 per annum details are given in Annexure 12.
(approx.).
• Similarly, during 2022-23 due to energy audit conducted 10. DIVERSIFICATION

in 10 mines of CIL, 13.531 million units of electrical
A. Diversification into Chemicals & Fertilizers
energy was proposed to save which shall result into
Sector:
reduction of CO2 of 11095 Tonnes/Year (approx.).
1. Setting up of Natural Gas based Fertilizer plant
• The total solar energy generated during 2022-23 was
of HURL at Gorakhpur, Sindri and Barauni
68.36 Lakh units. Thus, the solar energy generation
has resulted into reduction of CO2 emission by 5606 Hindustan Urvarak & Rasayan Limited (HURL), is
Tonnes per annum (approx.). one of our Joint Venture companies with promoter
shareholding of CIL – 29.67%, NTPC – 29.67%, IOCL – Plant at the pit head of Juna Kunada Opencast Mine
29.67% & FCIL/HFCL (combined) – 10.99%. HURL has of Majri Area through BOO mode of implementation.
made monumental strides to set up three natural-gas Currently, the project is in the tendering stage. The
based 1.27 MTPA urea plants, one each at Gorakhpur tender has been invited on 06.03.2023 and scheduled
(U.P.), Sindri (Jharkhand) and Barauni (Bihar). These bid submission end date is 12.09.2023.
coveted projects of national importance have been
implemented through Lump-Sum Turn Key (LSTK) mode B. Diversification into New Business Verticals:
at an estimated aggregate cost of around H 27,895
1. Amendment to Memorandum of Association
crore. Commercial Operation Date (COD) for Gorakhpur
(MoA)
Unit was declared on 03.05.2022. As on 31.03.2023,
cumulative production and dispatch for all three units The 48th AGM of CIL held on 30.08.2022 has approved
stood at 12.19 Lakh MT & 12.06 Lakh MT respectively. the amendment to MoA by incorporating the following
businesses in the Main Object Clause:
2. Setting up of Coal based Fertilizer Plant of TFL
at Talcher: • Aluminium Business Value Chain
Talcher Fertilizers Limited (TFL) is another Joint Venture • Renewable Energy Business Value Chain
company with promoter shareholding of CIL – 31.85%, • Critical Mineral Business Value Chain
RCF – 31.85%, GAIL – 31.85% and FCIL – 4.45%. The
• Advance Chemistry Cells and Energy Storage
JV was constituted to set up a Surface Coal Gasification
Devices Manufacturing Value Chain
(SCG) based integrated 1.27 MTPA urea complex at
Talcher using coal from nearby Talcher coalfields. This • Hydrogen Business Value Chain
is a landmark project which will lay the foundation of
coal gasification sector in the country. In this project, 2. Aluminum Business Value Chain:
high ash coal blended with pet-coke upto 25% shall be
Through M/s Deloitte a pre-feasibility report was
gasified to produce syngas which shall be converted into
prepared for the Integrated Greenfield Aluminium
neem coated urea. The project is being implemented
Project to be undertaken by CIL through MCL. Under
on partial Lump Sum Turn Key (LSTK) basis at an
the single window clearance system, we have already
estimated cost of H 17,080.69 crore, which will be
received ‘in-principle’ approval from High Level
financed through a debt-equity structure of 60.12:39.88.
Clearance Authority (HCLA) of Govt. of Odisha for our
TFL has successfully achieved the Financial Closure by
proposal on setting up of 1 MTPA refinery, 0.5 MTPA
obtaining Final Sanctions of the target debt amount with
Aluminum Smelter and 1400 MW CPP. The 450th CIL
SBI as Lead Banker. Sponsor Support Undertaking has
Board Meeting held on 19.04.2023 has accorded
been signed on 05.05.2022 and 1st instalment of debt
approval for considering the reassessed capacity
drawl has commenced from 23.12.2022. Further, to
configuration i,e, 6 MTPA Bauxite Mine, 2 MTPA
fast-track the project the TFL Office has been shifted
refinery, 0.5 MTPA Aluminum Smelter and 1400 MW
from Noida to Bhubaneswar in September,2022. As on
CPP. Third party feasibility studies for the project has
31.03.2023, the overall progress of the project stands
been completed. M/s EIL has submitted final land
approximately 42.69%. The plant is expected to come
and water assessment study report for the proposed
into operation in FY 2024-25.
Aluminium Project in Dec ’22. The Integrated Greenfield
3. Surface Coal Gasification(SCG) Projects of Aluminium Project is proposed to be implemented
Subsidiaries: through SPV.
ECL, SECL & MCL Project: As a way forward, CIL 3. Thermal Power Generation:
now intends to implement three projects through JV.
a) SECL-MPPGCL- This is another strategic vertical
M/s BHEL, GAIL & IOCL have been identified as JV
where CIL is planning for diversification. Through
partners for SCG projects at MCL, ECL and SECL
our subsidiary South Eastern Coalfields Limited
respectively. Three MoUs with these CPSE have been
(SECL), we envisage to partner with MPPGCL to
signed on 12.10.2022. It is pertinent to mention that
form a separate JV for setting up the proposed
the MoU with BHEL is for promoting indigenously
1×660 MW expansion project at the existing
developed Pressurized Fluidized Bed Gasifier (PFBG)
premises of Amarkantak Thermal Power Station
technology. M/s. PDIL has submitted final PFRs for
(ATPS), Village Chachai, Madhya Pradesh. Coal
Coal-to-SNG Project in ECL, Coal-to-DME Project in
to the said plant will be supplied from SECL by
SECL and Coal-to-Ammonium Nitrate Project in MCL
means of a fresh linkage (to be applied by JVC).
in March 2023. Concurrently, to fast-track the project
‘In-principle’ approval from MoC, DIPAM &
the JVA is under advanced stage of negotiations.
NITI Aayog have been obtained. MoU has been
WCL Project: Initiatives have also been taken to set up executed on 17.06.2022 between SECL and
of Surface Coal Gasification based Ammonium Nitrate MPPGCL. JVA is under finalisation.
002-115 116-332 333-513
b) MBPL (an SPV of MCL): The proposed 2×800 At present, 15 fire sites are economically viable as
MW Thermal Power Station in Odisha is one assessed by CMPDIL, wherein work have been
such potential opportunity that has synergy and awarded and implementation started. The balance
syncs well with CIL’s thermal power generation 12 fire sites are found to be economically unviable
diversification goal. ‘Mahanadi Basin Power Ltd’ as assessed by CMPDIL. In recent study by NRSC
(MBPL) will implement the proposed project which (August 2021), 10 fire sites have shown decreasing
is envisaged to be a Supercritical Thermal Power trend/marginal indication of fire. To deal with those,
Project. This project would leverage the availability surface blanketing is being done by BCCL. For the
of coal at pit-head from MCL’s mines in Odisha to remaining 2 fire sites, one mineable site proposal is
set-up a successful venture which would cater to under formulation and other mineable site requires
the growing demand of power of the country in Viability Gap Funding (VGF) from JMP.
the coming future. To ensure offtake of power, CIL
has signed a Memorandum of Understanding with BCCL has taken up construction of 15,852 houses for
Assam Power Development Company Limited the shifting of BCCL families. Till date 7,714 houses
(APDCL) on 24.03.2023 to facilitate a basic have already been constructed and 4,215 families
framework for mutual discussion, deliberation on have been shifted. Due to superannuation of BCCL
all aspects for supply of 1200 MW power from the employees, shifting of only 7,852 BCCL families are
Power Projects operated by MBPL to APDCL on a required at present. As per decision of BCCL Board,
non-exclusive basis. 8,000 houses are to be handed over to JRDA for non
BCCL families and same has been conveyed to JRDA.
11. MASTER PLAN FOR DEALING WITH FIRE, Construction of 18,352 houses for non-BCCL families
SUBSIDENCE AND REHABILITATION have been taken up by JRDA out of 54,159 houses
as per approved Master Plan. Till date, construction
The Master Plan for dealing with fire, subsidence and of 6,352 houses have completed and 2,684 families
rehabilitation in the leasehold of Bharat Coking Coal Limited shifted. Balance 12,000 houses are under different
(BCCL) and Eastern Coalfields Limited (ECL) was approved stages of construction.
on 12th August 2009 by Govt. of India with an estimated
investment of H 7,112.11 crore for Jharia Coalfields and C. Revision of Approved Jharia & Raniganj
H 2,661.73 crore for Raniganj Coalfields. Implementation Master Plan
period of Master Plan have been delineated as 10 years
for ECL & 12 years for BCCL. Jharia Rehabilitation and The time frame for implementation of the Raniganj
Development Authority (JRDA) and Asansol Durgapur Master Plan and Jharia Master Plan has expired on Dt.
Development Authority (ADDA) are the implementing 11.08.2019 & Dt. 11.08.2021 respectively. As per the
agency for rehabilitation of non-BCCL & non-ECL people directive of the 19th HPCC meeting Dt. 19.05.2019, a
under Master Plan. draft comprehensive proposal incorporating alternative
rehabilitation package, time, and cost overrun have
A. Summarized Status of Implementations of been prepared by ECL in consultation with CMPDI,
Raniganj Master Plan (in the leasehold of RI-1 & ADDA, and BCCL in consultation with CMPDI
ECL): RI-II & JRDA.
There are 03 unstable locations under ECL which As per the directive of the 21st HPCC meeting, revision
were already vacated & families were shifted. As per of the both the proposals are under finalization at Govt.
the demographic survey report provided by ADDA, Of Jharkhand (Mines & Geology) and ADDA / Govt. of
around 29,000 non-ECL families are required to be W.B respectively.
rehabilitated from unstable locations. Construction
of 12,976 houses out of approved 29,000 houses Jharia Master Plan
have been taken up by ADDA for shifting of non-
MoC, vide its letter dated 18.08.2021, conveyed
ECL families. At present construction of 7184 houses
that CIL can spend from the balance money on their
have been completed and 5,792 no. of houses are in
committed/ ongoing works towards Jharia Master Plan
different stages of construction.
till the approval of revised Jharia Master Plan .
B. Summarized Status of Implementations of
Further, on dated 25.08.2021, under the guidance of
Jharia Master Plan (In the leasehold of BCCL):
PMO, a committee under chairmanship of Secretary
34 sites have been identified as fire-affected zone, as (Coal) has been constituted to review the Jharia
per survey report by National Remote Sensing Centre Master Plan. The Committee has submitted its report.
(NRSC) in 2018. Later, as per NRSC interim study The said report was discussed in the meeting held on
report (October 2020), 27 sites have been identified as 07.02.2023 chaired by the Cabinet Secretary where it
fire-affected zone. has been directed to take necessary steps for approval
of Final report on way forward of Jharia Master Plan .
Raniganj Master Plan: c) Blacktopping & repairing of coal transportation

roads and strengthening of haul roads.
MoC vide its letter dated 18.01.2023, & dated
22.02.2023 has conveyed that CIL can spend from d) Development of wind break and vertical greenery
the balance money on their committed/ ongoing system.
works towards Raniganj Master Plan till the approval
of revised Master Plan . Accordingly, CIL has released e) Deployment of additional Surface Miners and
H 300 crore to ECL in March, 2023 for rehabilitation Continuous Miners in opencast & U/G mine
of non-ECL families under implementation of Raniganj respectively for blasting free coal extra action.
Master Plan.
B) Mine Water Management:
12. ENVIRONMENTAL MANAGEMENT Mine Discharge Treatment Plants (MDTP) are installed
in mines for treatment of discharged mine water on
12.1 Management System Standards: the surface for second phase treatment. Treated mine
water is then used partly for dust suppression, fire-
CIL HQ obtained re-certification of ISO 9001:2015, ISO fighting, plantation, washing etc. As per the need of
14001:2015 and ISO 50001:2018 for Quality Management, the local community, treated mine water is supplied to
Environment Management and Energy Management the nearby villages for drinking & irrigation purposes.
System respectively from Bureau of Indian Standards In order to assess the impact of mining activities on
(BIS) in 2022 with validity upto Oct,2025. As on 31st March ground water, monitoring of ground water levels is
2023, ECL, NCL, MCL, CCL (27 units) and WCL (83 units) being carried out in and around of the mine lease
are certified for Integrated Management System (ISO hold area. For ground water recharge within mine
9001:2015, ISO 14001:2015 and OHSAS 18001:2017). premises and nearby villages, initiatives like rainwater
CMPDI HQ and its seven RIs are certified for ISO 9001:2015. harvesting, digging of ponds / development of
Moreover, CMPDIL HQ, Ranchi has been certified with ISO lagoons, de-silting of existing ponds / tanks etc. have
37001:2016 (Anti-Bribery Management System). been taken. Regular monitoring of mine, workshop
and domestic effluent is carried out as per rule and
12.2 Pollution Control Measures and their Efficacy:
desired actions are being taken. Reports of the same
CIL is committed to protect environment by practicing are regularly submitted to SPCBs and MoEF&CC. In
and following sustainable mining practices right from mine 2022-23, 92.45 % discharged mined water utilized
planning stage. Various pollution control measures and for internal & community use and remaining 7.55 % is
initiatives are being taken up concurrently with mining retained for future use and ground water recharging.
operations, for maintaining acceptable / permissible limits
C) Noise Pollution Control Measure:
of major physical and chemical attributes of environment
namely air, water, hydrogeology, ground vibrations, noise, For control of noise pollution, various measures
land, etc. like proper maintenance of equipment, green belt
development around the mine and residential area,
A. Air Pollution and its Control Measures:
blasting in day time and use of ear muff / ear plugs at
To control and reduce dust generation during drilling, noisy areas are adopted.
blasting, loading and coal transportation, CIL has taken
D) Land Reclamation:
up various initiatives enumerated in the MoEF&CC
approved Environmental Management Plan (EMP) of • Reclamation of the mined out areas and external
projects. The EMP is prepared factoring the impact OB dumps are major environmental mitigatory
on existing environment and forest due to coal mining activities taken up by CIL. Reclamation of mined
undertaken after conducting an Environment Impact out areas are being done as per the Environmental
Assessment (EIA) study of each project. Mist spraying Management Plan (EMP) and Mine Closure Plan
systems, mobile water sprinklers and automatic (MCP) which are approved by MoEF&CC. Top soil
sprinklers have been provided to mitigate air pollution is preserved, stored and used in plantation areas
& its control measures. in the opencast mines. Concurrent reclamation
and rehabilitation of mined out areas are taken up
Some of the important initiatives taken by CIL
for gainful land use. After technical reclamation
are as follows:
is completed, plantation is carried out which is
a) Implementation of First Mile Connectivity to termed as biological reclamation.
reduce transport of coal by road.
• Eco-restoration: For effective Bio-reclamation of
b) Transportation of coal by conveyors, covered disturbed land, scientific studies are carried out to
trucks & loading in railway rakes through Silo. select suitable species of plants for afforestation
002-115 116-332 333-513
on three tier plantation concept. Forest Research performance evaluation as per the EC conditions in
Institute (FRI) has been engaged by CIL for sharing 35 CIL (> 5Mm3 Coal + OB) Mines, was completed
their expertise in the field of eco-restoration in the by ICFRE and also was approved by CIL board in
reclaimed areas. Many Eco- restoration sites have December 2020. ICFRE has already completed field
been developed in subsidiary companies of CIL visit of 32 mines and submitted draft reports for 30
with technical collaboration of FRI. mines till March 2023.
• Eco-park in Reclaimed land: Eco Parks have been

developed in many of the mined out areas and 13. ERP, IT INTIATIVES, ELECTRONIC AND
command areas of CIL like Madhuvan Vatika ECL, COMMUNICATION IN CIL
Govardhan Eco-Park BCCL, Bishrampur Tourism
A. ERP
Site SECL, Nigahi Eco Park NCL, Bal Gangadhar
Tilak Eco-Park WCL, Kayakalp Vatika CCL, Achievement of SAP ERP implementation in CIL &
Chandra Sekhar Azad Eco- park, MCL, etc. CIL Subsidiaries for the Year 22-23
has established 30 Eco-parks & Mine Tourism &
eco-restoration sites on date. With the introduction of an enterprise-wide ERP
solution at CIL, some of the foremost achievements are
• Monitoring of Reclamation: The land reclamation Standardization of business processes, adoption of best
and restoration operations in opencast mines of industry practices and integration of business processes
CIL are being monitored using high resolution to achieve optimization of resources. The management
Satellite Data. Land Reclamation Monitoring of is able to take informed decisions based on reliable &
total 110 projects under different subsidiaries of accurate information. Humongous legacy data is now
CIL has been completed in 2022-23. 76 major unified, cleansed and is maintained in a common repository
Opencast Projects (OCPs) producing more than 5 accessible on real time basis across the organisation. Data
MCM (Coal + OB) per annum alongwith 34 OCPs/ is captured at source, flows seamlessly across different
Clusters producing less than 5 MCM (Coal + levels and is accessible based on Roles & Authorisation.
OB) per annum were monitored in 2022-23. The
study during 2022-23 shows that 76 major OCPs ERP facilitates Project Management by real time monitoring
have reclaimed area of 199.46 Km2 (63.14%) and throughout its lifecycle. ERP has enabled effective
active mining area is 116.44 Km2 (36.86%) of the management of assets, provides visibility of Spares till the
total excavated area. Whereas, for projects under last storage location enabling efficient stores management.
less than 5 mcm category, reclaimed area is 34.82 ERP facilitates better utilization of skilled Human Resource
Km2 (63.58%) and active mining area is 19.95 through optimal deployment of manpower. All Core
Km2 (36.42%) of the total excavated area. Processes have been stabilized and AMC for Phase
I and Phase II are in the last quarter of First Year AMC.
In addition, CIL is also conducting Vegetation Multi module Dashboard made operational for further
Cover Mapping of 19 major coalfields using visualization of Data and enhancement is being done on
satellite data every 3 years in phase wise manner. the suggestion of stakeholders
During the 2022-23, Vegetation cover mapping of
six coalfields viz Wardha and Kamptee Coalfields Some of the Module-wise Key achievement are
(WCL), Talcher Coalfield (MCL), Bishrampur enumerated below:
Coalfield (SECL), Jharia Coalfield (BCCL) &
Sales & Distribution Module
Makum Coalfield (NEC) have been completed
1. Contract creation, Sales Order generation, Proforma
• Mine Closure Plan (MCP): MCP is an integral part
Invoice creation, advance collection, Sales Order
of the Project Report prepared by CMPDIL for
approval and release, and communication to
Coal mines of CIL. This progressive mine closure
customers through automated mail
plan also forms a part of the EIA / EMP prepared
and got approved by MOEF&CC as a part of 2. Delivery Note creation, IRN generation and Invoice
Environmental Clearance. In FY2022-23, H 91.28 generation and automated mail to customers
crore has been reimbursed from the Escrow fund
to the concerned Project Proponents for mine 3. Entry of Third-Party sampling result
closure activities.
4. Issuance of debit / credit note for quality cases
E) Strive for continual improvement in
environmental performance. 5. Collection of Coal value & Refund of Balance Amount
through bank interface
The job of Developing approach and methodology a. Payment : SBI, Axis, ICICI
for index rating of environmental conditions and
b. Collection : ICICI, Axis
6. Integration with M junction & MSTC for seamless flow 5. Preparation of Cost Sheet.
of auction data
6. Budget Module Implemented across all Subsidiaries
7. Seamless flow of weighbridge data in ERP
7. Bill tracking of vendor
8. Integration with FOIS for Rail Dispatch of Coal
Project System Module
9. Auto-clearing of entire Coal Sales Process (advances,
1. Planning, controlling, and monitoring of all Mining and
billing, Credit-debit and refund)
Non-mining Project activities
10. Import of Coal Sale Process through ERP 2. Budget control for all Mining and Non-Mining Projects
11. Mode agnostic interface is being developed. 3. Tight integration with MM & FICO module for
Procurement related activities
Production Planning Module
4. Financial & Physical progress review in SAP as well as
1. Monthly Production Process Order Creation & Release
in Dashboard.
of it in Time (at the Beginning of The Month)
5. Maintenance and reporting of real time project related
2. Capturing Shift Production Data and OB removal in
parameters (Expense, Capacity, DPR plan values,
Time at shift end.
actual values etc.)
3. Generating all Yellow Book Format/Reports of 1&2
6. Maintenance and reporting of other associated details
series (Shift & Day Series)
like Land, Pre Project, Issue status etc.
4. Technical Closing of the Process Order by 6th in the Plant maintenance Module
following month
1. Performance of Equipment: performance monitoring
5. Explosive & diesel consumption monitoring departmental Equipment (HEMM/UGMM)
6. Coal & OB measurement and reconciliation 2. Performance of CWS (no of major subassembly repair)
7. Mapping of fabrication/ refurbishment work done at 3. Ageing of Equipment

CWS & RWS
4. Preventive Maintenance Scheduling
Human Capital Management Module
5. Configuration of breakdown processes
1. Payroll Processing of all on-roll employees
Material Management Module
2. Terminal Benefit Processing of retiring employee
1. Creation of Purchase Requisition (Indent of Goods,
through ERP.
Assets and Services), its consolidation and approval.
3. Time Management (Leave/Attendance)
2. Creation of Contract
4. NEWGEN (CPRMSE/NE, Conference Room, Guest
3. Creation of Purchase Order.
House, NPS, Legal Opinion, Legal Case, Committee &
Meeting, Employee Suggestion) 4. Goods receipt. Thus, monitoring of requirements raised,
approved, quantity ordered and quantity received with
5. Interface for Bank to Bank fund transfer the commitment of fund and consumption details.
a. Payment : SBI, Axis, ICICI
5. Quality Inspection.
b. Collection : ICICI, Axis
6. Goods issue against reservation.
6. Pay Fixation process
7. Stock transfer.
Finance & Controlling Module
8. Creation of Service Entry Sheets
1. Preparation of Financial Statement
9. Inventory Management with facility for Fast moving,
2. Payment to Vendor/Customer/Employee non-moving etc. and material type wise as Spares,
Consumable, POL etc.
3. Bank Reconciliation Statement
Hospital Management System
4. Maintenance of Asset Register
1. HMS Go-live in all subsidiaries
002-115 116-332 333-513
B. IT INITIATIVES a) GPS based Vehicle Tracking System (VTS)

& Geo-fencing: Coal transport vehicles plying
CIL and its subsidiaries have undertaken the following key in coal mines are fitted with GPS based Vehicle
IT initiatives as on date: Tracking System with real time monitoring setup
provided at Subsidiary HQ.
1. CIL has deployed digitalization use cases of seven
big Open Cast mines of SECL & NCL. This will result b) RF-ID based Boom- Barrier System: This
performance and productivity enhancement. arrangement have been made to control the
accessibility of different transport vehicles coming
2. CIL has created a new data center in public cloud
into mine area for coal transport.
platform. This platform will provide necessary services
for data Analytics and will facilitate informed decision c) CCTV based e-surveillance System: CCTV
making. Cameras like PTZ, Dome and Bullet type are
installed at various vulnerable location inside the
3. CIL has initiated a proposal for establishing
mine such as Magazines, Central stores, Central
ISMS(Information Security & Management System)
Workshops, coal stocks, sidings, weighbridges
through appointing a security consultant. The
and checkpoints etc. for electronic surveillance.
consultant will submit a roadmap for achieving
compliance of GOI’s security related guidelines and iii. Implementation of Integrated Command Control
ISO 27001. Centre (ICCC) at WCL: The Integrated Command
and Control Centre (ICCC) has been successfully
4. CIL has decided to implement E-office version 7 in
implemented in WCL in November 2022. This is to
entire CIL and necessary infrastructure will be provided
augment overall e-security and surveillance using AI
to NIC soon.
and Video Analytics across the coalfield areas in WCL.
5. A study has been conducted to implement M365 in
Mandate has been given to adopt similar ICCC at other
CIL HQ for 600 users which may provide utility tools
subsidiaries also during 2023-24.
along with facility of sharepoint, establishing Active
Directory, teams and other useful applications. It will iv. Establishment of redundant 2 tier MPLS VPN
also provide end point security. connectivity for functioning of Enterprise Resource
Planning (ERP): - Secondary Multiprotocol Label
6. CIL has launched web/mobile Apps like:-
Switching (MPLS) –VPN connectivity required for ERP
• Bill Reconciliation portal where coal consumers at CIL HQ Kolkata, CIL Office at Delhi and DC as well
are able to reconcile their respective bills with CIL. as DRC has been established along with setting-up of
This has generated immense satisfaction of the NOC at CIL HQ and the same has been integrated with
consumers. primary MPLS & CIL LAN for smooth functioning of
ERP.
• A whatsapp Chatbot in which employees/
customers/vendors are getting relevant v. Formulation and adoption of uniform and standardized
information through whatsapp in very easy way. CCTV AMC terms & conditions for CCTV maintenance
and upkeep pan Coal India.
C. ELECTRONICS & TELECOMMUNICATION
The following are the key initiatives, activities and 14: MINES SAFETY
achievements by E&T Dept. during the year 2022-2023.
14. 1: Statutory Frame-work for safety in coal mines:
i. Human Intervention less Road Weighbridge
Coal mining, world over, is highly regulated industry due
Automation Process across all Subsidiaries of CIL:
to presence of inherent, operational and occupational
‘Process Automation’ for human Intervention less
hazards and associated risks. Coal Mine Safety Legislation
Weighbridge as done at SECL, has been replicated
in India is one of the most comprehensive and pervasive
in remaining subsidiaries of CIL also for capturing of
statutory framework for ensuring occupational health and
weighment data and recording it automatically with
safety (OHS). In India, the operations in coal mines are
minimal human intervention. Arrangements have
regulated by the Mines Act- 1952, Mines Rules -1955, Coal
been made for seamless data flow from electronic
Mines Regulations-2017 and several other statutes framed
weighbridges to SAP ERP System without manual
there under. Directorate-General of Mines Safety (DGMS)
intervention for all the subsidiaries.
under the Union Ministry of Labor & Employment (MOL&E)
ii. Leveraging of technology through different IT administers compliance of these statutes. Other major
Initiatives at CIL subsidiaries: The following verticals Acts/Rules are applicable in coal mines are the Electricity
of IT Initiatives are already functional at subsidiaries of Act- 2003, Central Electricity Authority (measures rel. to
CIL safety & supply) Regulations - 2010, Indian Explosive Act-
1884 & Explosive Rules-2008, Indian Boiler Act-1923, the 8. Periodically auditing of the procedures and practices
Employee's Compensation Act- 1932 (Principal Act) and related to Occupational Health and Safety (OHS)
the Factories Act - 1948 Chapter -III & IV and several other System;
statutes framed there under.
9. Institute continuous education, training and retraining
14. 2: Occupational Health and Safety Policy of CIL: all employees with the accent placed on development
In compliance requirement of requirement Coal Mine of safety oriented skills;
Regulation – 2017, a fresh Occupational Health and Safety
Policy of CIL was approved by CIL Board of Directors 10. Continuous efforts to improve the occupational health
during its 448th meeting held on 04.01.2023. standards, workplace ambience and health conditions
of the employees.
Occupational Health and Safety Policy of CIL: We, at
Coal India Limited, are committed to ensure the health and 14. 3: Major functions of Corporate ISO
safety of our employees. CIL believes that accidents are
1. Inspection of mines to review safety status therein.
preventable and industrial health hazards are controllable
with foresight, relevant training, purposeful attitude and 2. Fact finding enquiry into fatal accidents as well as
appropriate equipment. major dangerous occurrences.
CIL is committed to: 3. Monitoring Mine Safety Audit conducted every year.
A. Carry out all mining and associated activities in such a 4. Imparting specialized training by SIMTARS accredited
manner as to avoid harm to employees, neighbouring trainers.
communities & environment.
5. Issuance of internal Technical Circulars / Management
B. Comply all relevant statutes for occupational health Guidelines / Advisory related to safety.
and safety.
6. Maintenance of accidents / major incidents database
C. Continuously promote and improve safe practices in and Analysis of mine Accidents.
all its operations in a planned manner along with its
monitoring and feedback. 7. Monitoring safety related R&D activities in CIL.
D. Develop a culture of progressive improvement in 8. Organizing CIL Safety Board and National Dust
practices and systems related to Occupational Health Prevention Committee (NDPC).
and Safety (OHS) at work places.
9. Monitoring mine rescue preparedness at different mine
CIL will achieve these objectives by: rescue establishments.
1. Planning and designing of mine with adequate 10. Publication of Safety Bulletin.
provision for Occupational Health and Safety.
11. Liasioning with various agencies on the matter of mine
2. Hazard Identification and Risk Assessment based safety.
Safety Management System in mines.
12. Monitoring of CIL Safety Information System (CSIS)
3. Adoption of suitable technology for improvement in database.
Occupational Health and Safety (OHS) system in work
13. Response to parliamentary matters and queries under
places.
the RTI Act- 2005 w.r.t mine safety.
4. Provision of adequate resources for effective execution
14. 4: Mine Accident Statistics
of Occupational Health and Safety (OHS) system in
work places. • Analysis of Mine Accident Statistics in CIL - Accident
statistics is the relative indicator for safety status in
5. Engage the safety personnel exclusively for improving
mines. Over the years, the safety performance of CIL
safety standards and safety cultures of mines.
has improved significantly. Both Fatalities for the year
6. Organize appropriate forums with employees’ 2022 have reduced to the lowest since inception of
representatives for joint consultations on occupational Coal India Limited in 1975. Significant reducing trend
health and safety matters to promote motivation and in mine accidents can be attributed to the following
commitment of employees in occupational health and contributing factors:
safety system;
• Commitment and synergetic cooperation amongst all
7. Multi-level monitoring of the implementation of the stakeholders.
Occupational Health and Safety (OHS) system in mines
• Use of state-of-the-art technology in the field of Mining
through Internal Safety Organization (ISO) at the company
Methods and Safety Monitoring.
headquarters and Area Safety Officers at area level;
002-115 116-332 333-513
• Continuous improvement in knowledge, skill and responsiveness of workforce.
• Constant vigil, round-the-clock supervision and supports from various agencies.
Salient features of continuous and sustained improvement in CIL's safety performance are as under in following Graphs and also
given in Annexure 14
Graph -1 – Trend of 5 Yearly Average Fatalities in CIL since 1975

196
150
145
143
124
Fatality
82
80
62
43
30
29
20
75-79
80-84
85-89
90-94
95-99
00-04
05-09
10-14
15-19
2020
2021
2022
Graph: 2 – Trend of 5 Yearly Average of Serious Injuries since 1975
1278
1065
571
558
513
526
Serious Injury
339
228
112
80
61
65
75-79
80-84
85-89
90-94
95-99
00-04
05-09
10-14
15-19
2020
2021
2022
14. 5: Measures for improvement of Mine Safety in • Adoption of the best practices for Strata and Gas
2022 Management
CIL has vigorously pursued several measures in the year • Strengthening Water Danger Management.
2022, along with the on-going safety related initiatives,
apart from compliance of statutory requirements for • Training on Mine Safety & Skill Up gradation.
enhancing safety standard in mines, which are given below:
• Emphasis on inspection of mines.
• Safety Audit of mines conducted through multi-
disciplinary Inter Area Safety Audit teams. Further, 15. MINE EMERGENCY RESPONSE SYSTEM
Check Audit for 10% of mines of CIL also conducted
by Inter Subsidiary multidisciplinary team to reassess 15. 1: Training on Mine Safety:
the audit conducted by the auditors.
• Initial and Refresher training & On-the-Job Training as
• Safety Management Plans (SMPs) are being reviewed per statute.
and controls measures are complied.
• Training on Simulators to HEMM operators.
• Principal Hazards Management Plans (PHMPs) are
• Skill up-gradation of frontline mine officials on continual
being reviewed and controls measures are complied.
basis on various topics.
• All mining operations are being performed as per
• Sensitization of all employees including Members of
Standard Operating Procedures (SOPs).
Safety Committees and contractual workmen on a
• Scientific studies OB dumps & Benches as well as for regular basis.
SCAMP in underground mines.
• Experienced electrical supervisors of the Area are
• Tool box safety talk and Pre-shift safety briefing for being engaged for imparting training to electricians
effective assessment of safety related hazards before and electrical helpers in VTCs.
start of operation.
• Domain knowledge of experienced Agent, Mine
• Personal Safety Counselling & Employee Assistant Managers, E&M & Excavation Engineers and other
Program has been initiated for sensitization about senior level executives are being used in imparting
safety. training to enhance the quality of training.
• Special Safety drives conducted to improve safety and 15. 2: Mine Emergency Response and Evacuation
enhance safety awareness. Plan (EREP)
• Regular co-ordination meeting with ISOs for assessing • Procedures for immediate notification to all persons
the safety status of mines. affected by the emergency.
• 58th CIL Safety Board was held for assessing safety • Procedures for the safe, orderly and immediate
status of all mines. withdrawal of persons from danger.
• Mist type fixed as well as trucks mounted water • Procedures for rescue of persons incapacitated or
cannons have been introduced in OC mines. trapped due to accident.
• Preparation of short Video Clips or Animation films on • Procedures for providing first aid, transportation,
various Mine Safety Procedures, Dos & Don’ts related medical treatment to injured.
to operation and Mine Accidents prepared and shared
• Special training to respond to critical operations and
amongst employees.
mine emergencies.
• Concept of Suraksha Mitra Mandali/Circle has been
• Mock Rehearsals for examining the efficacy of Plan.
introduced in this year to inculcate safety culture
amongst employees. • Demarcating Emergency Escape Routes in
belowground and training on evacuation.
• Micro and macro level action plan prepared for
monsoon and implemented. • Flow Chart prepared for transmission of information
regarding crisis / disaster.
Apart from the above specific actions, the following are
on-going measures for improving safety standards: 15. 3: Mine Rescue Services in CIL:
• Emphasis on use of the state-of-the art mining • Subsidiaries of CIL maintain 6 Mine Rescue Stations
technology. (MRS), 13 Rescue Rooms-with-Refresher Training
002-115 116-332 333-513
facilities (RRRT) and 17 Rescue Rooms (RR) at strategic 52 Executives attended workshops/Conferences/training/
locations to cater to the emergencies on 24X7 basis. visits outside the country in this Financial year.
• All Rescue Stations / Rescue Rooms are fully equipped 36,644 contract workers were trained in the financial year
with adequate numbers of rescue apparatus and 2022-23.
staffed by adequate numbers of Rescue Trained
Personnel (RTP) as per the MRR-1985. 16. 2 Engagement of Apprentices:
• Mine Rescue Team from WCL has bagged third position During the year 2022-23, in CIL and its subsidiaries a
in Mine Rescue Skills Category at the 12th International total of 8891 Apprentices were engaged through National
Mines Rescue Competition (IMRC) organized by Mines Apprenticeship Training Scheme (NATS) and National
Safety and Health Administration Academy in Beaver, Apprenticeship Promotion Scheme (NAPS) portals which
West Virginia, USA. constitutes around 2.62 % of total manpower including
contractor workers.
16 HUMAN RESOURCE DEVELOPMENT 16. 3 Special Initiatives:
Coal India Limited is ever geared up to meet the • Training Need Analysis of entire executive workforce of
expectations of the Nation by maintaining an uninterrupted CIL undertaken and completed within a stipulated time
coal supply chain to ensure energy security. How critical is frame with consultancy support from M/s Deloitte.
the role of Human Resource in achieving this goal is well Under this study, competency gaps have been
understood by the organization and hence development identified and need based training programs will be
of the workforce is one of the top priority activities in organized to bridge the gaps.
which the Company has consistently been investing. The
HR Leadership looks ahead with a clear perspective with • Training of Below Board level Executive: A total of
reference to the target of producing 1BT coal by 2025-26, 1083 Executives across various levels and disciplines
intensity of deploying enabling technology that is required were imparted training in Premier Institutes like IIM
to meet the target and associated training interventions. Lucknow, IIM-Indore, IIM-Calcutta, IIM-Nagpur, XLRI
Diversification of business is another area, where capability Jamshedpur, ISM Dhanbad on various topics like
diversification is well anticipated for which the company is “General Management, Managing people, Contract
preparing itself to keep pace. Management, ESG Management, HRM, RCA for
Safety Personnel”.
During 2022-23 different training programs were organized
at subsidiary headquarters, training centres, vocational • 4 executives trained on Solar energy project at
training center and also at CIL’s own in-house training National power Training Institute; 70 Senior Executives
facility Indian Institute of Coal Management Ranchi. This underwent training on Carbon Neutrality at IIM
training programs were organized after accessing the Calcutta.
training needs in the respective category of employees
• A pilot batch of 16 executives across CIL are
within the subsidiary.
undergoing a six-month Certificate Course on HR
Employees were given trainings for skill development and Analytics being provided by XLRI Jamshedpur.
acquisition of knowledge and skill in existing and future
• In House Training programs (by IICM, Ranchi) : Some
technology as well as safety. In addition to in-house training,
of the major training programs undertaken in this FY:
employees were trained at reputed training institutes like
IIM Lucknow, IIM Calcutta, IIM Indore, IIM Nagpur, ISM a. DISHA: The way Ahead – Recently promoted
Dhanbad, XLRI Jamshedpur etc. in their respective fields of 29 General Managers across CIL attended the
operations. program to understand the responsibilities of the
new roles.
16. 1 Training and Development of Human Resource:
b. LAKSHYA: A Personal Journey for Development
In Financial year 2022-23, a total of 89,168 employees have
and Transformation was organized for 50 GMs/
been trained in house, out of this 17,404 were executives
Chief Managers across CIL and Subsidiaries.
and 71,764 were non-executives. A total of 6415 employees
have been trained outbound but within the country, out of c. MANTHAN: A director-level leadership
this 5895 were executives and 520 were non- executives. development programme for the newly selected
During the FY 22-23, 5,83,984 training man-days were Directors on the Boards of various Subsidiaries of
achieved for CIL employees including executives and CIL.
non-executives (excluding contract workers) across
Subsidiaries. d. OUTBOUND PROGRAM: Leadership
Development with professional support from
TSAF for 24 female executives at Mussoorie. Team
building and leadership programs conducted 5. Regarding Decentralized Recruitment of Medical

at other places for the Executives were Ladakh, Executives - 2022-23: Out of 255 candidates selected,
Shimla, Jim Corbett, and Panchgani. 193 reported and 82 joined.
6. After completion of successful training period, 573 MTs

17 RECRUITMENT posted across Subsidiaries were placed in E3 grade.
During the Financial Year (F.Y.) 2022-23, Coal India 7. 10 Company Secretaries were selected under the
Limited (CIL) has inducted Management Trainees, Medical Lateral Recruitment from E3 to E-8 Grades. Out of
Executives and other Executives at lateral level through which 1 posted in CIL and the remaining posted in
direct recruitment to fill up the vacancy arising out of various Subsidiaries.
retirement, resignation etc. Departmental promotion
/ selection was also made in different disciplines by 8. Regarding Career Progression of Departmental
promoting Non-Executive employees to Executive cadre. candidates:
The details of Executive manpower influx in CIL for F.Y.
2022-23 are as follows: a) 504 Departmental candidates have been selected
from Non-Executive to Executive cadre in Mining
1. 581 Management Trainees (MTs) were selected on discipline.
the basis of GATE-2021 Score against 588 vacancies
b) 282 Departmental candidates have been
notified in the Recruitment Advt. No. 03/2021 of CIL
promoted / selected from Non-Executive to
wherein 281 MTs have joined.
Executive cadre in Survey discipline and posted
2. 958 Management Trainees (MTs) were selected on the at different Subsidiaries.
basis of GATE-2022 Score against 1026 vacancies
c) 331 departmental candidates have been promoted
notified in the Recruitment Advt. No. 02/2022 of CIL.
/ selected from Non-Executive to Executive
723 MTs have joined across Subsidiaries till date.
cadre in 10 disciplines and posted at different
Joining formalities of the MTs selected in further
Subsidiaries.
Phases are presently underway.
d) 315 departmental candidates who completed 01
3. 366 MTs were selected on the basis of Computer year probation period in E2 grade were placed in
Based Test (CBT) Score against 398 vacancies E3 grade.
notified in the Recruitment Advt. No. 03/2022 of CIL
(CBT-2022) wherein 295 MTs have joined across
Subsidiaries till date. Joining formalities is presently 18. MANPOWER
underway. Further, Documents Verification (DV) and
18.1 The total manpower of the Company including its
Initial Medical Examination (IME) in r/o 43 candidates
subsidiaries as on 01.04.2023 stood at 2,39,210 against
selected in CBT-2022 (2nd Phase) was conducted on
2,48,550 as on 01.04.2022. A detailed Subsidiary wise
27.03.2023.
position of Manpower is given in Annexure 15.
4. During the F.Y. 2022-23 (Upto 30.09.2022), from the
18.2 The presidential directives with respect to manpower
Decentralized Recruitment of Medical Executives
for Scheduled Caste/Scheduled Tribes/OBC have been
- 2021-22, 43 Medical Executives joined across
implemented in all the subsidiaries/units of Coal India Limited.
Subsidiaries.
The representation of SC/ST employees in total manpower of CIL and its Subsidiary Companies as on 01.01.2021, 01.01.2022
and 01.01.2023 is given below: -
Total Scheduled Caste Scheduled Tribe OBC

As on
Manpower Nos. Percentage Nos. Percentage Nos. Percentage
01.01.2021 2,62,292 52,000 19.83 40,063 15.27 59,937 22.85
01.01.2022 2,51,320 48,493 19.30 36,398 14.48 60,172 23.94
01.01.2023 2,41,563 46,157 19.11 35,055 14.51 56,556 23.41
(as on 1.1.21)
Groups
Total Manpower SCs SCs % STs STs % OBCs OBCs %
A 14333 2222 15.50 841 5.87 2319 16.18
B 15724 2482 15.78 1542 9.81 3938 25.04
C 232235 47296 20.37 37680 16.22 53680 23.11
Total 262292 52000 19.83 40063 15.27 59937 22.85
002-115 116-332 333-513
(as on 1.1.22)
Groups
A 14053 2222 15.81 859 6.11 2562 18.23
B 17774 2324 13.08 1563 8.79 4058 22.83
C 219493 43947 20.02 33976 15.48 53552 24.40
Total 251320 48493 19.30 36398 14.48 60172 23.94
(as on 1.1.23)
Groups
A 14936 2360 15.80 967 6.47 3156 21.13
B 17061 2230 13.07 1484 8.70 3838 22.50
C 209566 41567 19.83 32604 15.56 49562 23.65
Total 241563 46157 19.11 35055 14.51 56556 23.41
19. INDUSTRIAL RELATIONS AND EMPLOYEES’ Public School etc. and other Educational Institutions run by
PARTICIPATION IN MANAGEMENT the State Government to provide quality education to the
employees’ children. In addition, financial assistance and
The Industrial Relations scenario in CIL & its subsidiaries infrastructure facilities are also provided to certain privately
during the financial year remained cordial. Joint Consultative managed schools and other educational institutions by
Committees and other Bipartite Committees at Unit/Area some of the subsidiary coal companies functioning in
levels and Subsidiary (HQ) levels continued to function in and around coalfield areas. These schools cater to the
harmony. Meetings of Bilateral Committees were held at requirement of the entire population in coalfield areas.
regular intervals at CIL to address IR, Welfare, Productivity/
Production, Safety etc. issues. Except for few minor issues 20. 3.1 Coal India Scholarship Scheme:
of local nature at a few subsidiaries, there has been no
For employees’ children, two types of Scholarships, namely
major IR problem in the company.
Merit and General Scholarship, are being provided every
year under prescribed terms and conditions.
20. EMPLOYEES’ WELFARE AND SOCIAL
SECURITY SCHEMES a) In Merit Scholarship, Students securing 1st to 20th
position in Madhyamik/ H.S. or any State Board or
Coal India Limited strives to provide the best facilities for securing 95% and above marks in ICSE, CBSE / ISC
Welfare of its employees and their families. The facilities that Exam (Class-X & XII) are given scholarship per month.
are extended to all sections of the Society like- Scheduled
caste, Scheduled Tribe, backward classes, minorities as General Scholarship is provided to Students studying
well as other marginalised segments of the society, without Class-V onwards up to Graduation /Post- graduation
any discrimination, are given below: - level in any discipline subject to prescribed percentage
of marks.
20. 1 Housing facilities
b) Cash Award and certificate of appreciation: -
In CIL and its subsidiaries, all eligible employees are
provided company quarters subject to availability and Every year, Cash Award of H 5000/- and H 7000/-
Company rules. Regular repair and maintenance including respectively are provided to the Meritorious wards of CIL
thorough repair of these housings are undertaken regularly employees who secure 90% or above Marks in aggregate
to provide decent housing to employees. in 10th and 12th standard Board level examination.
20. 2 Water supply c) Considering the high cost of technical and medical
education in the country, Coal India Limited is providing
To provide clean drinking water to the employees and their financial assistance towards meeting the cost of
families, many water supply schemes have been taken up. education of the dependent children of Wage Board
Supply of water is done after proper treatment and several Employees to the extent of tuition fees and Hostel
RO plants/ Pressure filter plants are also existing in coalfields charges for pursuing studies of Engineering / Medical
that cater not just to our employees but also to the population in IITs, NITs, Govt. Engg. and Govt. Medical college.
in the neighborhood. During summer months, in areas facing
water scarcity, water is also supplied through tankers. 20. 4 Medical Facilities
20. 3 Educational Facilities Coal India Limited and its subsidiaries are extending
medical facilities to the employees and their families through
The subsidiary companies of CIL have been providing various medical establishments from the dispensary level
financial assistance and infrastructure facilities to schools to the central and Apex Hospitals in different parts of the
operating in Mines areas like DAV, Kendriya Vidyalaya, Delhi coalfields. For specialized treatment, where the expertise/
facilities is not available, they are also referred for treatment For the purpose of promotion of Sports and Culture, Coal
outside the empaneled hospital. India has an approved Sports Policy administered through
Coal India Sports Promotion Association (CISPA), a body
For transporting the patient to hospitals, ambulances with registered under the West Bengal Society’s Registration
latest technology and life support systems are provided at Act; and this association supports Sports and Culture by
central places in entire coalfields. way of providing sponsorship/ financial assistance in the
coalfield areas. CISPA is also lending support to various
In addition, special emphasis has also been given on
subsidiaries in creation of sports infrastructure for the
Occupational Health, HIV /AIDS awareness programme for
benefit of larger local population
the employees and their families.
20.7 Empowerment of Women
Medical facilities of OPD and indoor treatment in Company’s
hospitals/ dispensaries are also extended to the workers There are 19794 female employees working in CIL and
engaged by contractors. its Subsidiary companies. In order to ensure their health,
safety and welfare, the coal companies ensure compliance
During the Covid pandemic, the medical fraternity and
to all statutory requirements, enhanced maternity leave,
the staff have provided commendable support to the
child care leave, crèche etc
population of coalfield areas.
Also, Forum of Women in Public Sector (WIPS) under
20. 5 Statutory Welfare Facilities
the aegis of SCOPE (Standing Conference of Public
In accordance with the provision of the Mines Act 1952 and Enterprises) is operational in all coal companies/ CIL for
Rules and Regulations framed there-under, subsidiaries empowering them and provide a platform for networking.
of Coal India Limited are maintaining various statutory
In terms of the provisions of the Sexual Harassment
welfare facilities such as Canteen, Rest Shelters etc. These
of Women at Workplace (Prevention, Prohibition and
facilities are for use by the employees of the company as
Redressal) Act 2013, Coal India Limited has an Internal
well as contractor’s labor alike.
Complaints Committee.
20. 6 Non-Statutory Welfare Measures
20. 8 CIL Welfare Board Meeting
20.6.1 Co-operative Stores and Credit Societies
A bipartite forum comprising of representatives from trade
In order to supply essential commodities and consumer unions and management constitutes the Welfare Board.
goods at a cheaper rate in the collieries, Central Co- This Welfare Board holds its meetings at unit/ subsidiary
operative and Primary Co-operative Stores are functioning and headquarter level regularly. The welfare Board takes
in the Coalfield Areas of CIL. important decisions regarding the welfare measures for
employees, housing facilities upliftment, drinking water
20.6.2 Banking Facilities and Post Offices facilities and all other facilities. The Welfare Board also
monitors the quality of facilities.
The Management of Coal companies are providing
infrastructure facilities to the various Nationalized Banks
for opening their Branches and Extension Counters in the
21. RECOMMENDATIONS MADE BY THE
Coalfields for the benefit of their workers. Similarly, there
COMMITTEE ON PAPERS LAID ON THE
have been efforts to bring the post offices to the proximity
TABLE (RAJYA SABHA) IN ITS 150TH REPORT
of workers by encouraging opening of Account facilities A. Vigilance Cases during the year 2022-23
closer to residential colonies
Particulars No. of cases
20.6.3 Sport Facilities Opening Cases 7
Received 569
There are recreational and sports facilities near residential Total 576
colonies of workers to ensure the wellbeing and good Disposed off 560
health of the workers and their families Closing Cases 16
B. Pending CA&AG Paras (CIL H.Q.):-
PART II A PART II B TOTAL

No of Paras No of Paras No of Paras No of Paras No of Paras
Remarks Remarks No of Paras Remarks
received replied received replied replied
20 19 Under 28 28 Under 48 47 Under
scrutiny scrutiny scrutiny of
of CAG of CAG CAG
Replies to all the CAG Paras have been given and the matter is under scrutiny of CAG. The matter is being regularly followed
up with the office of C&AG.
002-115 116-332 333-513
C RTI Matters:
Extracts of RTI Annual Return for the Financial Year 2022-23
Requests Received Decisions where Decisions where

No. of cases
Particulars (including cases transferred requests/appeals requests /appeal
transferred
to other Public Authority) rejected accepted & disposed
Nos. 1697 341 119 1237
22. TREE PLANTATION / AFFORESTATION • A technical seminar was organized at Hotel Taj Vivanta
on 29.07.2022 under the chairmanship of CIL and
Plantation and Green belt are developed through extensive under the aegis of TOLIC (PSUs), Kolkata.
tree plantation programme every year by the Subsidiaries
of CIL. Avenue plantation, plantation on OB dumps, • The 12th and 13th issue of Hindi magazine "Koyla
plantation in and around mines, residential colonies, and Darpan" was published from CIL HQs on the
available government land are undertaken in the existing auspicious occasion of Independence day & Republic
as well as the new projects. The subsidiaries of CIL have day respectively.
planted around 31.01 lakh saplings during 2022-23 in an • On 25.08.2022, a review meeting of TOLIC (PSUs), was
area covering more than 1,613.39 Ha. (Around 1,126 Ha organized under the chairmanship of Director (P&IR),
inside mine lease area & over 487 Ha outside mine lease CIL. In which, the member offices which performed
area) with an increase of about 10 % over previous year in excellently in the field of implementation of official
terms of area of plantation language during the year 2021-22 and Hindi magazine
were rewarded.
23. PROGRESSIVE USE OF HINDI • In the said meeting, the 26th issue of Hindi magazine
'Abhivyakti' of TOLIC (PSUs), Kolkata was released.
Coal India Limited is committed to implement the
Whose publication work was done by the Department
provisions of Official Language Act, Rules and Regulations
of Official Language, CIL. TOLIC (PSUs), Contact
and all mandatory activities are conducted regularly in
directory was also inaugurated in the same meeting.
every quarter. Activities that take place throughout the year
include: • Hindi Fortnight was organized this year from 14-29
September 2022 at Coal India Ltd. (HQ), Kolkata.
• Review meeting of CIL Official Language The Department of Official Language, Ministry of
Implementation Committee was organized every Home Affairs has decided to inaugurate the Hindi
quarter. Day celebrations of all the government offices of the
country this year with the Hindi Day Conference and
• To promote the use of Hindi in official work, a total of
the Second All India Official Language Conference
4 workshops were organized in every quarter. Training
organized in Surat, Gujarat on September 14, 2022.
and practice programs related to Hindi e-tools,
Compliance of which was also done by the Coal India
Hindi noting, drafting and regular official works were
Ltd. (HQs) Office. Various types of competitions like
organized and information about constitutional
essay writing, poetry recitation, letter-note writing,
provisions was given.
quiz, dictation competition, translation competition,
• Under the provisions of in-service Hindi training, Hindi computer operation competition was organized during
Praveen's class is being conducted for the 14 CIL the fortnight. In which 124 participants participated.
employees in January-2023 session in collaboration • On 29.09.2022, meeting of the Official Language
with the Government of India's Hindi Teaching Implementation Committee and prize distribution
Scheme, Department of Official Language, Ministry of program was organized under the closing ceremony of
Home Affairs, and 15 trainees received training in Hindi the Official Language Fortnight. In the said ceremony,
the July, 2022 session of 'Pragya' class. the winners of the competition were encouraged by
giving prizes and 'CIL Rajbhasha Chalshield' to the
• Hindi Kavi Sammelan was organized on 22.04.2022 at
three departments doing excellent official work in
CIL (HQs), Kolkata premises.
official language Hindi.
• Organization of meeting of Hindi Advisory Committee,
• Under the chairmanship of CIL and under the aegis of
Ministry of Coal under the chairmanship of Honourable
TOLIC (PSUs), Kolkata, various competitions in official
Coal Minister Mr. Pralhad Joshi on 18.05.2022.
language Hindi, such as poetry recitation, letter and
• Poetry recitation competition was organized on note writing, essay writing, quiz competition, elocution
15.07.2022 under the chairmanship of CIL and under competition, Translation competition were organized
the aegis of TOLIC (PSUs), Kolkata. In which 80 at various centres of Kolkata-based Public sector
participants participated. enterprises in the month of November and December.
• On 30.01.2023, the 27th issue of 'Abhivyakti', a Hindi • Quantification of Coal stock in CIL: Policy, Process
magazine of TOLIC (PSU), Kolkata was released. and Pitfalls: A System study was conducted for
understanding of the vulnerabilities of the production
• A two-day technical seminar was organized by TOLIC reporting process based on estimation, with specific
(PSU), Kolkata under the leadership of Department focus on (a) improving reliability and authenticity of the
of Official Language, CIL on 30-31 January, 2023. In present reporting system of Coal Production tonnage
which official language nodal officers of CIL & officers (b) maximizing productivity and efficiency of HEMM.
of other member PSUs also participated. The study has resulted in several system improvement
suggestions which have been implemented across the
In order to promote the use of Hindi in official work, the
subsidiaries.
following schemes have been implemented:
(i) CIL Hindi Book Writing Incentive Scheme" • Systemic improvement suggestions issued in respect
of procurement of larger size HEMM tyres: A robust
(ii) Incentive Scheme for Correspondence / Drafting and procedure for ascertaining the performance of items
doing other official work in Hindi" procured at CIL level and consumed at subsidiary/
(iii) CIL Hindi book writing scheme Project level is suggested to be designed and
incorporated in supply orders. Recommended
(iv) CIL Rajbhasha Chal Shild Yojna
that duration of warranty period should be suitably
amended for protecting the interests of CIL. An SOP
24. VIGILANCE DIVISION for warranty claims is suggested to be issued which is
complied.
Coal India Ltd. has a well-structured Vigilance Division at
Corporate HQ Kolkata, headed by a Chief Vigilance Officer Complaint Handling: During the year 2022-23, CIL
& assisted by a multi-disciplinary team of vigilance officers. Vigilance Division received 569 complaints including those
Similarly, all of its eight subsidiaries have their independent forwarded by MoC, CBI and CVC out of which 560 have
Vigilance Units, each headed by a Full time CVO. At the been disposed of during the year.
level of holding company, CVO, CIL acts as a coordinating
authority between subsidiary Vigilance, CBI, Ministry of Punitive Vigilance: The Vigilance Units of CIL and its
Coal and the Central Vigilance Commission. CVO, CIL at subsidiaries undertook numerous intensive examinations,
corporate level deals with complaints, investigations and surprise checks and investigations leading to punitive
systemic improvements on issues having multi-subsidiary actions on 265 officials during the year.
and company-wide ramifications.
Vigilance Awareness Week: In the year 2022, Vigilance
Complaints received in organization are dealt in accordance Awareness Week was observed from 31st October to 6th
with the ‘Complaint Handling Policy’ of CIL and CVC November, 2022 on the theme “Corruption Free India for a
Guidelines and are processed using the Online Complaint Developed Nation”.
Handling Portal from receipt up to disposal. As a part of
The observance of VAW was preceded by a special
preventive vigilance, CIL vigilance division undertakes
campaign during the period 16th August 2022 till 15th
System Studies of various business processes having
November, 2022 as a precursor to Vigilance Awareness
operational & financial implications and developed specific
Week 2022 on Preventive Vigilance cum Housekeeping
system improvement suggestions for the management.
activities as circulated by CVC vide Circular No. 14/07/22,
Some of the System Improvement Measures (SIMs)
dated 25.07.2022 with six focus areas, namely; Property
undertaken during 2022-23 are briefly summarized below:
Management, Management of assets, Record Management,
• Mission- Productivity Maximization- Performance Technological Initiatives, Updation of guidelines/circulars/
analysis of dumpers: Vigilance study revealed that data manuals and disposal of complaints. Stake-holders’ and
generated by the on-board Truck Payload Monitoring Customers’ Meets have been organized and suggestions/
System (TPMS) have the potential to dramatically issues raised are acted upon. During this week Integrity
improve the efficiency and productivity of the high pledge, Essay writing competition, speech competition,
capacity dumpers. A in depth study was made and online quiz amongst the school and college students,
recommendations for systematic improvement was drawing and painting competition of students, spouses and
suggested to CIL management for implementation. CIL wards of employees of Coal India conducting sensitization
management accepted the suggestion and decided to program, walkathon for vigilance awareness etc. were
explore the facility of seamless transfer of data in ERP organized by CIL HQ.
system for loading and transporting equipment. Based
on the deliberations, administrative orders were issued. 25. PARTICULARS OF EMPLOYEES
Portal has been developed to consolidate the data
from various subsidiaries which is being monitored by MCA vide its Notification dated 5th June’2015 has exempted
EED in its monthly report. the same for Government Company. None of employee of
CIL and its Subsidiaries are earning in excess of H 1.02
crore per annum.
002-115 116-332 333-513
26. BOARD OF DIRECTORS & KEY MANAGERIAL d) Permanent Invitees: -

PERSONNEL
1. Shri P. M. Prasad, CMD, Central Coalfields Ltd.
a). Functional (Executive) Directors: -
2. Shri Bhola Singh, CMD, Northern Coalfields Ltd.
As on 31.03.2023, the Functional Directors of Coal India
Limited are as under:- 3. Ms. Jaya Varma Sinha, Addl. Member-Traffic,
Transportation, Railway.
1. Shri Pramod Agrawal[DIN-00279727]- Chairman cum
Managing Director (CMD) e) Key Managerial Personnel: -
2. Shri Pramod Agrawal [DIN-00279727]- 1. Shri Pramod Agrawal -Chief Executive Officer (CEO)
Director(Fin.),Additional charge till 28th December’2022 2. Shri S.K. Mehta, ED (Finance)- Chief Financial Officer
(CFO)
3. Shri S.N. Tiwary [DIN-07911040]-Director (Marketing)-
superannuated on 30th April’ 2022 3. Shri M. Viswanathan- ceased to be Company Secretary
and Compliance Officer on 30th September’22.
4. Shri Vinay Ranjan[DIN-03636743]- Director (P & IR)
4. Shri B. P. Dubey- appointed as Company Secretary
5. Dr. B. Veera Reddy- [DIN-08679590]- Director and Compliance Officer, CIL w.e.f. 21st October’ 2022.
(Technical)
Your Directors wish to place on record their deep sense
6. Dr. B. Veera Reddy- [DIN-08679590]- Director ( of appreciation for the valuable guidance and services
Marketing) additional charge from 1st May'22 to 22nd rendered by the Directors during their tenure, who ceased
Dec'22 to be the Directors during the year.
7. Dr B. Veera Reddy- [DIN-08679590] Director (Finance), In terms of Article 39(j) of the Articles of Association of the
additional charge from 29th December’22 Company, one third of the Directors are liable to retire by
rotation shall retire at the ensuing Annual General Meeting
8. Shri Debasish Nanda[DIN-09015566]- Director and they are eligible for reappointment. Shri Vinay Ranjan,
(Business Development)- from 11th July’ 2022 Director (P&IR), CIL and Dr. B. Veera Reddy, Director
(Technical), CIL will retire by rotation and has offered
9. Shri Mukesh Choudhary[DIN-07532479]- Director
themselves for re-appointment.
(Marketing)- from 23rd December’ 2022
The Board of Directors held 11 meetings during the year
b) Government Nominee Directors: -
2022-23.
1. Shri Vinod Kumar Tiwari [DIN-03575641]- AS, MoC-
ceased to be Director on 21st February’ 2023 27. COMPOSITION OF AUDIT COMMITTEE
2. Mrs Nirupama Kotru-[DIN-09204338]- JS & FA,MoC CIL in pursuance of excellence in corporate governance
formed an Audit Committee of its Board of Directors w.e.f.
3. Shri Nagaraju Maddirala-[DIN-06852727]- Addl.
20th July’ 2001 and the Audit Committee was re-constituted
Secy,MoC appointed on 22nd February’ 2023
by the Board in its 433rd meeting held on 12th Nov’2021
c) Independent Directors: - consisting of 4 Independent Directors, One Government
Nominee Director, One Whole Time Director (Director
There are the following seven Independent Directors were Technical) and One permanent Invitee (Director Finance).
appointed in CIL Board :- The composition, quorum, powers, role and scope are in
accordance with Section 177 of the Companies Act, 2013
1. Prof. G. Nageswara Rao –[DIN-08461461]
and the provisions of Regulation 18 of SEBI (LODR) 2015.
2. CA Denesh Singh – [DIN-08038875] Details were disclosed in Corporate Governance Report
3. Shri B. Rajesh Chandar – [DIN-02065422]

28. COMPOSITION OF CSR COMMITTEE
4. CA Kamesh Kant Acharya -– [DIN-09386642]
Sustainable Development Committee including CSR was
5. Shri Makwana P Kalabhai – [DIN-09385881]
constituted by CIL Board of Directors in its 282nd meeting
6. Dr. Arun Kumar Oraon -– [DIN-09388744] held on 16-04-2012. This Committee was renamed as CSR
7. Shri Ghanshyam Singh Rathore – [DIN-09615384] Committee in pursuant to Section 135 of the Companies Act,
appointed on 1st March’ 2023 2013 and the Companies (Corporate Social Responsibility)
Rules, 2014. This committee was reconstituted on 12th
November 2021 comprising of 2 Independent Directors, 1
Govt. Nominee Director and 1 Functional Director. Details
were disclosed in Corporate Governance Report 33. REMUNERATION POLICY OF DIRECTORS,

KMPS AND SENIOR MANAGEMENT –
29.DECLARATION GIVEN BY INDEPENDENT SECTION 178(4).
DIRECTORS UNDER SUB-SECTION (6) OF MCA vide Notification dated 5th June’2015 had exempted
SECTION 149. the above for directors of Government companies.
Independent directors had given their declaration during
2022-23 that they meet the criteria of independence 34. A STATEMENT INDICATING THE MANNER
as stipulated in sub-section (6) of Section 149 of the IN WHICH FORMAL ANNUAL EVALUATION
Companies Act 2013. HAS BEEN MADE BY THE BOARD OF ITS
OWN PERFORMANCE AND THAT OF ITS
Further, as required under Section 149(7) of Companies
COMMITTEES AND INDIVIDUAL DIRECTORS.
Act’13 and Regulations 25(8) of SEBI (LODR) Regulations
2015, Independent Directors had submitted declaration MCA vide notification dated 5th June’2015 had exempted
that they meet the Independence Criteria as provided in evaluation mechanism for Govt. Companies.
Clause (b) of Regulation 16(i) of LODR 2015 and they are
not aware of any circumstance or situation, which exists
35. CONTRACTS OR ARRANGEMENTS WITH
or may be reasonably anticipated that could impair or
RELATED PARTIES
impact their ability to discharge duties with an objective
independent judgment and without any external influence. Related Party Transactions made with the Subsidiary
Further, as required under Regulation 25(9) of LODR 2015, companies were exempted under Regulation 23(5)(a) and
the Board of Directors of the Company in its 450th Board (b) of Securities and Exchange Board of India (Listing
meeting held on 19th April’23 took on record the declaration Obligations and Disclosure Requirements) Regulations,
and confirmation submitted by the Independent Directors 2015 being transactions between two government
under Regulations 25(8) after undertaking due assessment companies and transactions entered between a holding
of the veracity of the same. and its wholly owned Subsidiaries whose accounts are
consolidated with holding company and placed before
30. APPOINTMENT/RE-APPOINTMENT AND the shareholders at the general meeting for approval.
INTEGRITY, EXPERTISE & EXPERIENCE Accordingly, Form AOC 2 is not applicable.
(INCLUDING PROFICIENCY) OF
INDEPENDENT DIRECTORS 36. LOAN, GUARANTEES OR INVESTMENTS BY
A COMPANY UNDER SECTION 186 OF THE
All 7 Independent Directors had registered themselves with
COMPANIES ACT’2013
IICA, Data Bank. As stipulated by SEBI (LODR) Regulations
2015, the list of core skills/expertise/competence as Loan, guarantees and investments made by Coal India
possessed by them was approved by Board in its 450th Limited in terms of Section 186 of the Companies Act 2013
Board meeting held on 19th Apr’23. This includes Integrity, is enclosed in Annexure 16.
expertise and experience of Independent Directors.
37. FAMILIARIZATION PROGRAMME OF BOARD

31. RECOMMENDATION OF AUDIT COMMITTEE MEMBERS.
AND OTHER SUB-COMMITTEES OF THE
BOARD. Board of Directors are fully briefed on all business-related
matters, associated risk and mitigation measure taken
All the recommendations made by Audit Committee and by the company, new initiatives etc. of the company. The
other Sub-Committees were accepted by the Board. Board of directors were also briefed about the provisions
of Companies Act 2013, Prohibition of Insider Trading
32. COMPANY’S POLICY ON DIRECTORS Regulations as amended and SEBI (Listing Obligations
‘APPOINTMENT AND REMUNERATION and Disclosure Requirement) Regulations 2015. As per
INCLUDING CRITERIA FOR DETERMINING Regulation 25 of SEBI (Listing Obligations and Disclosure
QUALIFICATIONS, POSITIVE ATTRIBUTES, Requirement) Regulations 2015, the listed entity shall
INDEPENDENCE OF A DIRECTOR AND familiarize Independent Directors through various
OTHER MATTERS PROVIDED UNDER SUB- programmes about the listed entity, including the following:
SECTION (3) OF SECTION 178.
(a) Nature of the industry in which the listed entity
MCA vide Notification dated 5 June’2015 had exempted
th operates;
the above for Government companies.
(b) Business model of the listed entity;
(c) Roles, rights, responsibilities of Independent Directors;

and
002-115 116-332 333-513
(d) Any other relevant information. c) Proper and sufficient care has been taken for the
maintenance of adequate accounting records
As per regulation 46 of SEBI (Listing Obligations and in accordance with the provisions of this Act for
Disclosure Requirement) Regulations 2015, the details of safeguarding the assets of the Company and for
familiarization programmes given to Independent Directors preventing and detecting fraud and other irregularities;
is to be disclosed on the website of the company. The
same is disclosed in company’s website and link is given d) The Annual Financial Statements have been prepared
hereunder: - https://d3u7ubx0okog7j.cloudfront.net/ on a going concern basis;
documents/FamiliarizationProgrammesIDs.pdf
e) Internal Financial Controls have been laid down
and such controls are adequate and were operating
38. SEXUAL HARASSMENT OF WOMEN AT THE effectively during the year ended 31st March'2023.
WORKPLACE
f) Proper systems have been devised to ensure
The company has an Anti-Sexual Harassment Policy in line compliance with the provisions of all applicable laws
with the requirements of The Sexual Harassment of Women and such systems were adequate and operating
at the Workplace (Prevention, Prohibition & Redressal) Act, effectively.
2013. Internal Complaints Committee (ICC) is working at
every Subsidiary and office of Coal India Limited to redress For CIL (Consolidated) Financial Statements, such
complaints regarding sexual harassment. All women confirmation is based on confirmation obtained from
employees (permanent, contractual, temporary, trainees) Ten Indian subsidiaries of CIL viz: Eastern Coalfields
are covered under the said policy. The ICC members of Limited, Bharat Coking Coal Limited, Central Coalfields
Coal India Limited, headquarters as on 31st March’23 are Limited (consolidated), Northern Coalfields Limited,
as follows: Western Coalfields Limited, Mahanadi Coalfields
1. Ms. Binita De - Chairperson Limited (consolidated), South Eastern Coalfields Limited
(consolidated), Central Mine Planning & Design Institute
2. Shri CVS Ramanujam- Member
Limited, CIL Solar PV Limited and CIL Navikarniya Urja
3. Ms. Namrata Shukla- Member Limited. However, for the overseas subsidiary viz. Coal
4. Ms. Shweta Loharuka- Member India Africana Limitada, incorporated under Mozambique
5. Shri Arun Bohra – Member Commercial Code and for Joint Ventures viz. International
Coal Ventures Private Limited, NTPC Urja Private Limited,
6. Ms. Pallabi Halder – NGO Member
Hindustan Urvarak & Rasayan Limited, Talcher Fertilizers
One sexual harassment complaint was received during Limited and Coal Lignite Urja Vikas Private Limited where
the year 2022-23 at Coal India Limited Hqs. Charges of CIL is not the majority shareholder, such confirmation have
Sexual Harassment in the complaint was proved. The not been obtained.
Employee was suspended for a period of 10 days and
Internal Financial Control & its Adequacy: (Details are
transferred from the office.
disclosed in MD & AR portion)
39. DIRECTORS’ RESPONSIBILITY STATEMENT

40. ACCOUNTS OF THE SUBSIDIARIES
In terms of Section 134(3) (c) of the Companies Act, 2013,
The statement containing the salient features of the
read with the Significant Accounting Policies at Note-2
financial statements of company’s Subsidiaries, Associate
& Additional Notes on Accounts at Note-38 forming part
companies and Joint ventures under the first proviso to
of CIL (Standalone) Accounts and Significant Accounting
sub-section (3) of section 129 of Companies Act,2013 is
Policies at Note-2 & Additional Notes on Accounts at Note-
enclosed as AOC 1 in Annexure 17. In terms of General
38 forming part of CIL (Consolidated) Accounts.
Circular No.2/2011 dated 8th Feb 2011 from Ministry of
It is confirmed that: Corporate Affairs, the Annual Accounts of the Subsidiary
companies shall be made available to the shareholders on
a) In the preparation of the Annual financial statements, demand.
the applicable Indian Accounting Standards have been
followed and no material departures have been made
41. COST AUDIT REPORT & COST AUDITOR
from the same;
M/s Shome & Banerjee conducted Cost Audit of your
b) The Accounting Policies have been selected and
company for the Financial Year 2021-22 and Cost Audit
applied consistently and judgements and estimates
Report was approved by the Board of Directors by
made that are reasonable and prudent so as to give a
Circulation. The above report was filed in XBRL mode
true and fair view of the state of affairs of the company
with MCA on 27th September 2022. All the Cost records as
at the end of the financial year and profit and loss of
specified by the Central Government under sub-section (1)
the company for that period;
of section 148 of the Companies Act, 2013, is required by
the Company and accordingly such accounts and records 45. WEBLINK
are made and maintained.
The following policies are uploaded and may be accessed
M/s R. M. Bansal & Co was appointed as Cost auditor on the Company’s website as under: -
for CIL Standalone for the Financial Year 2022-23. E-form
CRA-2 has been filed with MCA. 1. Corporate Social Responsibility Policy:
https://d3u7ubx0okog7j.cloudfront.net/documents/
42. IMPORT CSR_Policy_w.e.f._08.04.2021.pdf
Import by Coal India Ltd (Consolidated) in the last 3 years 2. Vigil Mechanism/Whistle Blower Policy:
are as below:
(H in crore) https://d3u7ubx0okog7j.cloudfront.net/documents/
Custom Duty whistle-blower-policy_TYEsLJw.pdf
Assessed
Year Including GST &
Value 3. Policy for determining Material Subsidiary:
Cess
2020-21 1952.20 610.45 https://d3u7ubx0okog7j.cloudfront.net/documents/
2021-22 517.78 168.71 P O L I C Y _ F O R _ D E T E R M I N I N G _ M AT E R I A L _
2022-23 1028.31 263.04 SUBSIDIARIES_21032015.pdf
43. SECRETARIAL AUDIT 4. Related Party Transaction Policy:
In pursuance of Section 204 of Companies Act 2013, https://d3u7ubx0okog7j.cloudfront.net/documents/

company had conducted Secretarial Audit for the year Related_Party_cOumNP8.pdf
2022-23 by a peer reviewed practicing Company Secretary
5.
Policy on determination of Materiality under
firm M/s Parikh & Associates, Practising Company
SEBI(LODR) Regulations,2015
Secretaries. Their appointment was approved in 449th CIL
Board meeting held on 31st January’2023. Company has https://d3u7ubx0okog7j.cloudfront.net/documents/
obtained ‘Secretarial Audit Report’ for the year 2022-23 in Policy_on_determination_of__Materiality_under_
form MR-3 and the response to their comment is enclosed SEBI_LODR__Regulations_2015__030_CnX61Sk.PDF
in Annexure 18. In addition, CIL has 6 Material Unlisted
Subsidiaries and their Secretarial Audit Report along with 6.
Policy on Preservation of documents including
Observation of Secretarial Auditor and Management Reply Archival Policy under SEBI(LODR) Regulations 2015
are also annexed as per Regulation 24A of LODR 2015.
https://d3u7ubx0okog7j.cloudfront.net/documents/
Policy_on_Preservation_of_documents_including_
44. RISK MANAGEMENT POLICY Archival_Policy_under_SEBI_LODR__ZXTbKI6.pdf
CIL has approved Risk Management Charter and Risk 7.

Dividend Distribution Policy under SEBI (LODR)
Register to build up a strong Risk Management Culture to Regulations 2015
achieve company’s goals and objectives. The entity level
Risk Assessment comprises Strategic Risk, Operational https://d3u7ubx0okog7j.cloudfront.net/documents/
Risk, Financial Risk, Compliance Risk, Project Related Risk Dividend_Distribution_policy_of_Coal_India_
and Support System Risk. Limited_25102017_QwCV1sY.pdf
As per the Risk Register, various risks have been identified 8. Annual Return for the year 2022-23.
for CIL & its Subsidiaries. Risk Owner & Risk Mitigation Plan
Pursuant to Section 92(3) read with Section 134(3)(a)
Owners have also been nominated for each risk identified to
of the Act, the Annual Return as on March 31, 2023 is
ensure continuous monitoring and mitigation thereof. A Risk
available on the Company’s website on
Management team headed by Chief Risk Officer (CRO) in
consultation with HoDs and under the guidance of the Risk https://d3u7ubx0okog7j.cloudfront.net/documents/
Management Committee had implemented the governance MGT-7.pdf
process envisaged in the Risk Management Framework
along with formulation of Risk Mitigation plans for RTMs
(Risk That Matters) of CIL. The Seven RTMs of CIL under
46. COMPANY CONFIRMS THE FOLLOWING: -
purview of risk management are : Risk due to unviable 1. None of the Director is disqualified for appointment as
Underground Mining operations, Cyber Security Risk, per Section 164 of the Companies Act’2013.
Competition risk from Commercial mining and renewables,
Credit risk of receivables from PSUs, Operational Safety Risk 2. Company has not issued any Equity share with
arising out of mining Operations, Evacuation challenges for differential voting rights, Sweat Equity shares and
coal offtake and Technology upgradation and improvement ESOP.
of availability & utilization of HEMM.
002-115 116-332 333-513
3. The Unclaimed Interim Dividend amount for the No such material changes and commitments occurred
year 2015-16 amounting to H 1,61,82,451/- was between the end of the FY and the date of the report which
transferred to IEPF Account on 4th April, 2023. In may affect the Standalone as well as consolidated financial
addition, 32,520 shares in respect of which dividend position of the company.
remained unclaimed for the last 7 years had also been
transferred to IEPF Account on 28.04.2023. The details 3. The names of companies which have become or ceased to
are available in CIL website. be its subsidiaries, joint ventures or associate companies
during the year.
4. No Statutory, Secretarial, and Cost Auditors had
resigned during the year 2022-23. No new incorporation or any cessation of existing
subsidiaries, joint ventures or associate companies
5. No relative of a director was appointed to place of occurred during the year.
profit.
6. As per Regulation 32(4) of SEBI (Listing Obligations 48. ANNEXURES

and Disclosure Requirement) Regulations, 2015
The following are annexed:-
deviation of Proceeds of Public issue is not applicable
to the company. i) Profit of CIL & its Subsidiaries for 2022-23 vis-à-vis
2021-22 (Annexure 1).
7. There is no deposit covered under Chapter V of
Companies Act 2013. ii) Subsidiary wise details of Dividend income of CIL
Standalone (Annexure 2).
8. There is no deposit, which is not under compliance of
Chapter V of Companies Act 2013. iii) The comments of the Comptroller and Auditor General
of India on Standalone Financial Statements of Coal
9. There is no change in the nature of business.
India Limited (Annexure 3).
10. No Director is in receipt of any commission from
iv) Auditors Report on the Standalone Financial
Subsidiary companies in which he is a director.
Statements for the year ended 31st March, 2023
11. Applicable Secretarial Standards, i.e. SS-1 and SS- including Report on the Internal Financial Controls
2, relating to ‘Meetings of the Board of Directors’ under Clause (i) of Sub-section 3 of Section 143 of the
and ‘General Meetings’, respectively, have been duly Companies Act, 2013 (“the Act”) [Annexure 3(A)].
followed by the Company.
v) The comments of the Comptroller and Auditor General
12. There are no Material changes in company business of India on Consolidated Financial Statements of Coal
from the end of financial year 2022-23 till the date of India Limited (Annexure 4).
this Board Report.
vi) Auditors Report on the Consolidated Financial
13. For the Financial year 2022-23, there has been no Statements for the year ended 31st March, 2023
application made or any proceeding pending under the including Report on the Internal Financial Controls
Insolvency and Bankruptcy Code, 2016 (31 of 2016) under Clause (i) of Sub-section 3 of Section 143 of the
during the year alongwith their status as at the end of Companies Act, 2013 (“the Act”)[Annexure 4(A)].
the financial year.
vii) Subsidiary wise Coal Off-take. (Annexure 5)
14. The details of difference between amount of the
viii) Sector-wise dispatch of coal & coal products.
valuation done at the time of one-time settlement and
(Annexure 6)
the valuation done while taking loan from the Banks or
Financial Institutions along with the reasons thereof- ix) Subsidiary wise details of Stock of Coal. (Annexure 7)
Not applicable in CIL for the Financial Year 2022-23.
x) Subsidiary wise details of Trade Receivables.
(Annexure 8)
47. ADDITIONAL INFORMATION
xi) Subsidiary-wise Statutory Levies paid during 2022-23.
1. Details in respect of frauds reported by Auditors under
(Annexure 9)
section 143(12) other than those which are reportable to
the Central Government: xii) Subsidiary-wise Coking & Non-coking production,
Production from underground and opencast mines.
No such report of frauds as per Audit Report of Standalone
(Annexure 10)
as well as Consolidated Accounts has been received.
xiii) Subsidiary-wise Washed Coal (Coking) Production.
2. Material changes and commitments, if any, affecting the
(Annexure 10A)
financial position of the company which have occurred
between the end of the FY and the date of the report:
xiv) Subsidiary wise Overburden Removal. (Annexure 10B). xxvi) Significant and Material Orders passed by the
Regulators or Courts etc. (Annexure 22).
xv) Population of equipment. (Annexure 11)
xxvii) Corporate Governance Report. (Annexure 23)
xvi) Subsidiary wise details of Capital Expenditure.
(Annexure 12)
49. ACKNOWLEDGEMENT:
xvii) Status of Project Implementation (Annexure 13)
The Board of Directors of your Company wishes to record
xviii) Safety performance. (Annexure 14) their deep sense of appreciation for the sincere efforts put in
by the employees of the Company and Trade Unions. Your
xix) Subsidiary wise manpower. (Annexure 15) Directors also gratefully acknowledge the co-operation,
support and guidance extended to the Company by various
xx) Loan and Advances, Guarantees, Investments made by
Ministries of the Government of India in general and Ministry
the company under Section 186(4) of the Companies
of Coal in particular, besides the State Governments. Your
Act’2013(Annexure 16).
Directors also acknowledge with thanks the assistance and
xxi) Statement pursuant to first proviso to sub-section (3) of guidance rendered by Statutory Auditors, the Comptroller
section 129 read with rule 5 of Companies (Accounts) and Auditor General of India, Registrar of Companies, West
Rules, 2014) as on 31st March, 2023. (Annexure 17). Bengal, Secretarial Auditor and Cost Auditor and wishes to
place on record their sincere thanks to Consumers for their
xxii) Secretarial Audit Report under Section 204 of continued patronage.
Companies Act 2013 and Secretarial Audit Report of
Material Subsidiaries and Management Explanation.
(Annexure 18).
xxiii) Foreign Exchange Earning and Outgo under Rule 8 of

Companies (Accounts) Rules 2014 (Annexure 19). For and on behalf of the Board of Directors
xxiv) Details about Technology Absorption and Research

and Development of the Company (Annexure 20). Sd/-
P.M Prasad
xxv) Disclosure as per Section 135 of the Companies Act Dated:18.07.23 Chairman
2013 on Corporate Social Responsibility (Annexure 21). Place: Kolkata DIN-08073913
002-115 116-332 333-513
ANNEXURE 1
Profit of CIL & Subsidiaries for 2022-23 vis-à-vis 2021-22

(H in crore)
Company FY 2022-23 FY 2021-22 Increase/(Decrease)
ECL 793.95 (1,437.37) 2,231.32
BCCL 502.88 191.31 311.57
CCL (consolidated) 3,751.74 2,097.76 1,653.98
NCL 9,357.46 6,937.64 2,419.82
WCL 626.19 1,259.73 (633.54)
SECL (consolidated) 3,301.09 2,123.67 1,177.42
MCL (consolidated) 18,481.06 11,431.01 7,050.05
CMPDIL 366.95 366.04 0.91
CIL (Standalone) 15,093.51 11,356.84 3,736.67
CIAL & Other Adjustment (0.17) (0.18) 0.01
Sub-Total 52,274.66 34,326.45 17,948.21
Less: Dividend from Subsidiaries 14,265.71 10,701.58 3,564.13
Share of Joint Venture profit/(loss) (8.14) (8.59) 0.45
Profit Before Tax 38,000.81 23,616.28 14,384.53
Less : Tax on PBT 9,875.87 6,237.86 3,638.01
Profit for the Year 28,124.94 17,378.42 10,746.52
Add : Other Comprehensive Income (OCI) net of tax 264.63 51.31 213.32
Total Comprehensive Income 28,389.57 17,429.73 10,959.84
ANNEXURE 2
Subsidiary wise details of Dividend Income of CIL Standalone

(H in crore)
Dividend Income of CIL Standalone
Company (paying subsidiaries)
FY 2022-23 FY 2021-22
CCL 1023.66 782.08
NCL 3659.46 3596.36
SECL 1063.54 432.23
MCL 8425.00 5800.00
CMPDIL 94.05 90.91
Total 14265.71 10701.58
ANNEXURE 3
The comments of Comptroller and Auditor General of India on Standalone

Financial Statements of Coal India Limited
002-115 116-332 333-513

ANNEXURE 3 (A)
AUDITORS REPORT ON THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2023
INCLUDING REPORT ON THE INTERNAL FINANCIAL CONTROLS UNDER CLAUSE (i) OF SUB-SECTION 3 OF SECTION 143
OF THE COMPANIES ACT, 2013 (“THE ACT”)
INDEPENDENT AUDITOR’S REPORT

To the Members of Coal India Limited
Report on the Audit of the Standalone Financial the provisions of the Companies Act, 2013 and the Rules
Statements thereunder and we have fulfilled our other ethical responsibilities
in accordance with these requirements and the Code of Ethics.
Opinion We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our opinion.
We have audited the accompanying Standalone Financial
Statements of Coal India Limited (“the Company”), which Emphasis of Matter
comprise the Balance Sheet as at March 31, 2023, the Statement
of Profit and Loss (including Other Comprehensive Income), the We draw attention to the following notes / matters to the
Statement of Changes in Equity and the Statement of Cash Standalone Financial Statements.
Flows for the year then ended and notes to the Standalone
Financial Statements, including a summary of significant i) Note No. 11(4), regarding carrying forward of input tax
accounting policies and Other Explanatory Notes for the year credit on GST paid on input materials/services available for
ended on that date (hereinafter referred to as the “Standalone utilization against GST on output. GST liability on coal is 5%
Financial Statements”). whereas the inputs are being taxed at 18% and GST Input
tax credit getting accumulated amounting to H 76.81 crore
In our opinion and to the best of our information and according and outstanding as at March 31, 2023 (March 31, 2022:
to the explanations given to us, the aforesaid Standalone H 59.79 crore) largely relate to such inverted duty structure.
Financial Statements give the information required by the The amount is not refundable in terms of notification issued
Companies Act, 2013 (the “Act”) in the manner so required and in this respect and is therefore available only for utilization
give a true and fair view in conformity with the Indian Accounting against duty on output. Consequential adjustments and
Standards prescribed under section 133 of the Act read with impact thereof pending determination of amount as such
the Companies (Indian Accounting Standards) Rules, 2015, as cannot be commented upon by us; and
amended from time to time, (“Ind AS”) and other accounting
principles generally accepted in India, of the state of affairs of ii) The Regulation 17 read with Schedule II of SEBI (Listing
the Company as at March 31, 2023, and its profit and Other Obligations and Disclosure Requirements) Regulations,
Comprehensive Income, Changes in Equity and its Cash Flows 2015 dealing with mandatory requirement of an independent
for the year ended on that date. woman director is yet to be complied with by the company.
Basis for Opinion Our opinion is not modified in respect of the above matters.
We conducted our audit in accordance with the Standards on Key Audit Matters
Auditing (SAs) specified under section 143(10) of the Companies
Key audit matters are those matters that, in our professional
Act, 2013. Our responsibilities under those Standards are
judgment, were of most significance in our audit of the
further described in the Auditors’ Responsibilities for the Audit
Standalone Financial Statements of the current year. These
of the Standalone Financial Statements section of our report.
matters were addressed in the context of our audit of the
We are independent of the Company in accordance with the
Standalone Financial Statements as a whole, and in forming our
Code of Ethics issued by the Institute of Chartered Accountants
opinion thereon, we do not provide a separate opinion on these
of India together with the ethical requirements that are relevant
matters. We have determined the matters described below to
to our audit of the Standalone Financial Statements under
be the Key Audit Matters for incorporation in our Report:
002-115 116-332 333-513
Key Audit Matters Addressing the Key Audit Matters

Evaluation of provisions and Contingent Liabilities: Our Audit procedures based on which we arrived at the conclusion
There are a number of litigations including direct and indirect regarding reasonableness of disclosure of contingent liability and
taxes, various claims, etc. pending before various forums recognition of provisions includes the following:
against the Company and the management’s judgement is • We have obtained an understanding of the Company’s internal
required for estimating the amount to be provided and/or instructions and procedures in respect of estimation, assessment
disclosed as contingent liability. and disclosure of contingent liabilities;
We identified this as a key audit matter because the estimates • Understood and tested the design and operating effectiveness
and assessment with respect to these involve a significant of controls as established by the management for obtaining all
degree of management’s judgement, interpretations, and may relevant information for pending litigation cases;
therefore require adequate attention to arrive at the required • Discussed with the management regarding any material
conclusion. developments thereto and latest status of legal matters;
(Refer Note No. 38(1)(a) to the Standalone Financial • Read various correspondences and related documents pertaining
Statements, read with the Significant Accounting Policy No. to litigations involved and relevant external legal opinions obtained
2.21) by the management and performed substantive procedures on
estimation supporting the disclosure of contingent liabilities;
• Examined management’s judgements and assessments in
respect of whether provisions are required;
• Reviewed the management’s assessments of those matters which
have not been provided for or disclosed as contingent liability
since the probability of material outflow has been considered to
be remote;
• Reviewed the adequacy and completeness of disclosures;
Based on the above procedures performed, the estimation of provision
and disclosures for contingent liabilities have been considered to be
adequate and reasonable.
Impairment of investment in subsidiaries: Our Audit procedures based on which we arrived at the conclusion
As at March 31, 2023, the Company held investments regarding reasonableness of Impairment includes the following:
with a carrying amount of H 4,269.42 crore and H 4,657.00 • Pursuant to the outcome of the measures taken, the performance
crore in Eastern Coalfields Limited (ECL) and Bharat of the subsidiary companies after coming out of Board for Industrial
Coking Coal Limited (BCCL) respectively, wholly owned and Financial Reconstruction (BIFR) have improved significantly.
subsidiaries. These investments are carried at cost in the There had been a consistent positive trend in performance and
Company’s standalone financial statements. Consequent gradual decrease in accumulated losses of these companies.
to accumulation of losses incurred by the subsidiaries in The accumulated losses of BCCL and ECL have significantly
earlier years, net worth of these companies have been decreased to H 872.87 crore and H 1,725.55 crore from H 4,106.03
eroded to that extent. These are investments in wholly crore and H 2,716.00 crore respectively;
owned subsidiaries and are long term and strategic in • Sensitivity analysis and evaluation whether any reasonably
nature and as such no impairment in value thereof has foreseeable change in assumption could lead to impairment;
been recognised by the management.
• Further, in most recent time there has not been any significant
We considered this as a key audit matter since the amount events that have occurred or circumstances that have changed
of investments are material and value of investment if that may lead to the likelihood that the carrying amount of these
eroded and lost need to be given effect to in the financial companies would be less than current is remote;
statements in terms of Indian Accounting Standard
• Broad review of future performance, prospects for consistency
36 “Impairment of Assets”. The matter during the year
based on our understanding of the internal and external factors
ended March 31, 2022 has also been considered relevant
largely placing the reliance on management’s assumption with
for reporting under Emphasis of Matter paragraph by
respect to expected volume of business and sustainability of the
predecessor auditor.
profit;
(Refer to Note No. 7(1) to the Standalone Financial
• We have evaluated the adequacy of the disclosures made in the
Statements.)
Standalone financial statement;
• Placing reliance on the management’s assumption for future
prospects, expansion of current capacity, expected volume of
business and sustainability of the profitability and cash flows
therefrom.
Information Other than the Standalone Financial unless management either intends to liquidate the Company or
Statements and Auditors’ Report Thereon to cease operations, or has no realistic alternative but to do so.
The Company’s Board of Directors is responsible for the other Those Board of Directors are also responsible for overseeing
information. The other information comprises the information the Company’s financial reporting process.
included in the Annual Report, but does not include the
Standalone Financial Statements and our auditors’ report Auditors’ Responsibilities for the Audit of the
thereon. The other information as stated above is expected to Standalone Financial Statements
be made available to us after the date of this auditors’ report.
Our objectives are to obtain reasonable assurance about
Our opinion on the Standalone Financial Statements does not whether the Standalone Financial Statements as a whole are
cover the other information and we do not express any form of free from material misstatement, whether due to fraud or error,
assurance conclusion thereon. and to issue an auditors’ report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not
In connection with our audit of the Standalone Financial
a guarantee that an audit conducted in accordance with SAs
Statements, our responsibility is to read the other information
will always detect a material misstatement when it exists.
identified above when it becomes available, and, in doing so,
Misstatements can arise from fraud or error and are considered
consider whether the other information is materially inconsistent
material if, individually or in the aggregate, they could reasonably
with the Standalone Financial Statements, or our knowledge
be expected to influence the economic decisions of users taken
obtained during the course of our audit or otherwise appears to
on the basis of these Standalone Financial Statements.
be materially misstated.
As part of an audit in accordance with SAs, we exercise
When we read the other information as stated above and if
professional judgment and maintain professional skepticism
we conclude that there is a material misstatement therein, we
throughout the audit. We also:
are required to communicate the matter to those charged with
governance and describe necessary actions required as per • Identify and assess the risks of material misstatement of
applicable laws and regulations. the Standalone Financial Statements, whether due to fraud
or error, design and perform audit procedures responsive
Responsibilities of the Management and Those to those risks, and obtain audit evidence that is sufficient
Charged with Governance for the Standalone and appropriate to provide a basis for our opinion. The
Financial Statements risk of not detecting a material misstatement resulting
from fraud is higher than for one resulting from error, as
The Company’s Board of Directors is responsible for the fraud may involve collusion, forgery, intentional omissions,
matters stated in section 134(5) of the Companies Act, 2013 misrepresentations, or the override of internal control;
(“the Act”) with respect to the preparation of these Standalone
Financial Statements that give a true and fair view of the state of • Obtain an understanding of internal financial control relevant
affairs (financial position), Profit or Loss (financial performance to the audit in order to design audit procedures that are
including other comprehensive income), changes in equity and appropriate in the circumstances. Under section 143(3)(i) of
cash flows of the Company in accordance with the accounting the Act, we are also responsible for expressing our opinion
principles generally accepted in India, including the Indian on whether the Company has adequate internal financial
accounting Standards specified under section 133 of the Act controls system in place and the operating effectiveness of
read with relevant rules, as amended. such controls;
This responsibility also includes maintenance of adequate • Evaluate the appropriateness of accounting policies used
accounting records in accordance with the provisions of the and the reasonableness of accounting estimates and
Act for safeguarding of the assets of the Company and for related disclosures made by the management;
preventing and detecting frauds and other irregularities; selection
• Conclude on the appropriateness of management’s use of
and application of appropriate accounting policies; making
the going concern basis of accounting and, based on the
judgments and estimates that are reasonable and prudent; and
audit evidence obtained, whether a material uncertainty
design, implementation and maintenance of adequate internal
exists related to events or conditions that may cast
financial controls, that were operating effectively for ensuring
significant doubt on the Company’s ability to continue as
the accuracy and completeness of the accounting records,
a going concern. If we conclude that a material uncertainty
relevant to the preparation and presentation of the Standalone
exists, we are required to draw attention in our auditors’
Financial Statements that give a true and fair view and are free
report to the related disclosures in the Standalone Financial
from material misstatement, whether due to fraud or error.
Statements or, if such disclosures are inadequate, to
In preparing the Standalone Financial Statements, management modify our opinion. Our conclusions are based on the
is responsible for assessing the Company’s ability to continue audit evidence obtained up to the date of our auditors’
as a going concern, disclosing, as applicable, matters related to report. However, future events or conditions may cause the
going concern and using the going concern basis of accounting Company to cease to continue as a going concern; and
002-115 116-332 333-513
• Evaluate the overall presentation, structure and content Report on Other Legal and Regulatory
of the Standalone Financial Statements, including the Requirements
disclosures, and whether the Standalone Financial
Statements represent the underlying transactions and 1) As required by the Companies (Auditors’ Report) Order,
events in a manner that achieves fair presentation. 2020 (“the Order”), issued by the Central Government of
India in terms of sub-section (11) of section 143 of the
Materiality is the magnitude of misstatements in the Standalone Companies Act, 2013, we give in the “Annexure – A”, a
Financial Statements that, individually or in aggregate, makes statement on the matters specified in paragraphs 3 and 4
it probable that the economic decisions of a reasonably of the Order, to the extent applicable;
knowledgeable user of the Standalone Financial Statements
may be influenced. We consider quantitative materiality and 2) As required under Section 143 (5) of the Companies Act,
qualitative factors in (i) planning the scope of our audit work 2013, we give in the “Annexure – B”, a statement on the
and in evaluating the results of our work; and (ii) to evaluate Directions issued by the Comptroller and Auditor General
the effect of any identified misstatements in the Standalone of India after complying with their suggested methodology
Financial Statements. of audit, the action taken thereon and its impact on the
accounts and Standalone Financial Statements of the
We communicate with those charged with governance Company;
regarding, among other matters, the planned scope and
timing of the audit and significant audit findings, including any 3) Further to our comments in the annexure referred to in the
significant deficiencies in internal control that we identify during paragraph above, as required by Section 143(3) of the Act,
our audit. we report that:
We also provide those charged with governance with a statement a) We have sought and obtained all the information and
that we have complied with relevant ethical requirements explanations which to the best of our knowledge and
regarding independence, and to communicate with them all belief were necessary for the purposes of our audit;
relationships and other matters that may reasonably be thought
b) In our opinion, proper books of account as required
to bear on our independence, and where applicable, related
by law have been kept by the Company so far as it
safeguards.
appears from our examination of those books;
From the matters communicated with those charged with
c) The Balance Sheet, the Statement of Profit and Loss
governance, we determine those matters that were of most
(including Other Comprehensive Income), Statement
significance in the audit of the Standalone Financial Statements
of Changes in Equity and Statement of Cash Flows
of the current period and are therefore the key audit matters.
dealt with by this Report are in agreement with the
We describe these matters in our auditors’ report unless law or
books of account;
regulation precludes public disclosure about the matter or when,
in extremely rare circumstances, we determine that a matter d) In our opinion, the aforesaid Standalone Financial
should not be communicated in our report because the adverse Statements comply with the Indian Accounting
consequences of doing so would reasonably be expected to Standards specified under Section 133 of the Act,
outweigh the public interest benefits of such communication. read with Rule 7 of the Companies (Indian Accounting
Standards) Rules, 2015, as amended from time to
Other Matters time;
The comparative financial information of the Company for the e) In terms of Notification no. G.S.R. 463 (E) dated 05th
year ended 31st March, 2022 included in these Ind AS Standalone June 2015 issued by the Ministry of Corporate Affairs,
Financial Statement, are based on the Standalone Financial provisions of Section 164(2) of the Act regarding
Statements for the year ended 31st March, 2022 audited by disqualifications of the Directors, are not applicable as
predecessor auditor, M/s. Ray and Ray, an independent firm it is a Government Company; and
of Chartered Accountants, whose report for the year ended 31st
f) With respect to the adequacy of the internal financial
March, 2022 dated 13th July, 2022 expressed unmodified opinion
controls with reference to Standalone Financial
on those Standalone Financial Statements. Reliance has been
Statements of the Company and the operating
placed by us on the said Standalone Financial Statements and
effectiveness of such controls, refer to our separate
the report issued thereupon for the purpose of these Standalone
Report in “Annexure C”. Our report expresses an
Financial Statements and the report issued by us.
unmodified opinion on the adequacy and operating
Our opinion is not modified in respect of the above matter. effectiveness of the Company’s internal control with
reference to standalone financial statements.
4) With respect to the other matters to be included in the or otherwise, that the Company shall, directly or
Auditors’ Report in accordance with Rule 11 of the indirectly, lend or invest in other persons or entities
Companies (Audit and Auditors) Amendment Rules, 2021, identified in any manner whatsoever by or on behalf
in our opinion and to the best of our information and of the Funding Parties (“Ultimate Beneficiaries”)
according to the explanations given to us: or provide any guarantee, security or the like on
behalf of the Ultimate Beneficiaries; and
a) The Company has disclosed the impact of pending
litigations on its financial position in its standalone (iii) Based on such audit procedures we have
financial statements – Refer note 38(1)(a) of the been considered reasonable and appropriate
Standalone Financial Statements; in the circumstances, nothing has come to our
notice that has caused us to believe that the
b) The Company did not have any material foreseeable representations under sub-clause (i) and (ii) of
losses against long-term contracts, including Rule 11(e), as provided under (a) and (b) above,
derivative contracts and thereby requirement for contain any material misstatement.
making provision in this respect is not applicable to
the company; 5) The dividend declared or paid during the year by the
Company is in compliance with Section 123 of the Act;
c) There were no amounts which were required to be
transferred to the Investor Education and Protection 6) Proviso to Rule 3(1) of the Companies (Accounts) Rules,
Fund by the Company; 2014 for maintaining books of account using accounting
software which has a feature of recording audit trail (edit
d) (i) The Management has represented that, to the best log) facility is applicable with effect from April 1, 2023 to
of its knowledge and belief as disclosed in Note No. the Company, which is the company incorporated in India,
38(7)(q) to the standalone financial statements, no and accordingly, reporting under Rule 11(g) of Companies
funds have been advanced or loaned or invested (Audit and Auditors) Rules, 2014 is not applicable for the
(either from borrowed funds or securities premium financial year ended March 31, 2023; and
or any other sources or kind of funds) by the
Company to or in any other person(s) or entity(ies), 7) As per notification number G.S.R. 463 (E) dated 5th June,
including foreign entities (“Intermediaries”), with 2015 issued by the Ministry of Corporate Affairs, section
the understanding, whether recorded in writing or 197 of the Act as regards the managerial remuneration is
otherwise, that the Intermediary shall, directly or not applicable to the Company, since it is a Government
indirectly lend or invest in other persons or entities Company.
identified in any manner whatsoever by or on
behalf of the Company “Ultimate Beneficiaries”)
or provide any guarantee, security or the like on
For Lodha & Co
behalf of the Ultimate Beneficiaries;
Chartered Accountants
(ii) The Management has represented, that, to the Firm's ICAI Registration Number: 301051E
best of its knowledge and belief as disclosed
in Note No. 38(7)(q) to the standalone financial Sd/-
statements, no funds have been received by R. P. Singh
the Company from any person(s) or entity(ies), (Partner)
including foreign entities (“Funding Parties”), with Place: Kolkata Membership No. 052438
the understanding, whether recorded in writing Date: 7th May, 2023 UDIN: 23052438BGXSBT1343
002-115 116-332 333-513
ANNEXURE “A” TO THE AUDITORS’ REPORT OF EVEN DATE:
The Statement referred to in paragraph 1 with the heading ‘Report on other legal and regulatory requirements’ of our Report of even
date to the members of Coal India Limited on the Standalone Financial Statements of the Company for the year ended 31st March
2023, we report that:
i) a) The Company has maintained proper records showing full particulars, including quantitative details and situation of Property,
Plant and Equipment and Intangible Assets;
b) During the year, property, plant and equipment have been physically verified by the management according to a regular
program of verification which, in our opinion, is reasonable having regard to the size of the Company and the nature of
its assets. According to the information and explanations given to us, no material discrepancies were noticed on such
verification;
c) According to the information and explanations given to us and on the basis of our examination of the title deeds of all the
immovable properties disclosed in the Standalone Financial Statements, the same are held in the name of the Company as
on the Balance Sheet date except for the following where the title deeds are not in the name of the Company:
Whether title deed

Gross holder is a promoter,
Property
Description of Carrying Title deed held in director or relative Reason for not being held in
held since
Property Value the name of of promoter/director the name of the Company
which date
(J in crore) or employee of
promoter/director
Zabadiya and 13.43 Not Available Not Available 31-03-2022 Title deed not received.
Bhadramali
Solar Project
IICM Land 0.42 Not Available No 25-07-2012 Allotment Letter in respect
of the said land is given by
the authorities in the name
of Central Mine Planning and
Design Institute Limited.
Dankuni Coal 3.75 Details of Not Available 01-04-1994 Allotment Letter in respect of
Complex Requisition and the said property is given by
Acquisition of Land the authorities
received. (unable to
identify)
Scope Complex 8.59 Title Deeds not Not Available 01-12- Buildings are promoted by
and Scope available 2004 and Standing Committee of Public
Minar at New 30-09-1989 Enterprises (SCOPE) and CIL
Delhi respectively
has allotment letters only as
proof of ownership.
Guest House at 13.80 Title Deeds not Not Available 01-05-2019 Buildings are promoted by
Kidwai Nagar, available NBCC and CIL has allotment
New Delhi letter only as proof of
ownership.
Office Building 60.69 Title Deeds not Not Available 23-03-2021 Buildings are promoted by
at Kidwai Nagar, available NBCC and CIL has allotment
New Delhi letter only as proof of
ownership.
Residential Flat 0.03 Western Coalfields No 01-04-1978 The title deed is held in the
at Pedder Road, Limited name of subsidiary of the
Mumbai company and transfer of title is
pending.
Whether title deed

Property
held since
which date
promoter/director
32.45 Ha. 0.23 Title deeds are not Not Available 04-01-1992 We understand that the Land
Freehold land available is situated in the State of
at Simsang Meghalaya which is under
(Meghalaya) Six Schedule of Indian
Constitution, Title Deed is not
being issued in favour of North
Eastern Coalfields.
5.60 Ha. 0.03 Title deeds are not Not Available 08-01-1994 We understand that the Land
freehold lands at available is situated in the State of
Tura Dakopgre Meghalaya which is under
(Meghalaya) Six Schedule of Indian
Eastern Coalfields.
11.47 Ha.Tipong 0.01 Coal Mines No 09-01-1975 The said colliery is in the
Colliery Authority Limited name of Coal Mines Authority
(Tipongpani Limited (former name of the
Natun Gaon) Company). This has not been
updated in the title deed. The
land is under the possession of
North Eastern Coalfields, a unit
of the Company.
10.97 Ha. * M/S Dilli Colliery No 11-03-1997 The land is under the
freehold lands possession of North Eastern
at Dilli- Jeypore Coalfields, a unit of the
Colliery Company.
105.34 Ha. * Assam Railways and No Since 1973 Lands were acquired or came
free hold land Trading Company in possession of the Company
at Margherita Limited by virtue of Coal Mines
Town. Nationalization Act, 1973.
9.16 Ha. free * Assam Railways and No Since 1973 Lands were acquired or came
hold land at Trading Company in possession of the Company
Grant no.277(F) Limited by virtue of Coal Mines
NLR, Namdang. Nationalization Act, 1973.
W.L.Application Limited by virtue of Coal Mines
No.11 (part/ Nationalization Act, 1973.
north).
No.85/1923.24. Nationalization Act, 1973.
Grnat no.277(c) Limited by virtue of Coal Mines
NLR, Namdang. Nationalization Act, 1973.
Ledo-Tikak NLR Limited by virtue of Coal Mines
Grant No.2. Nationalization Act, 1973.
002-115 116-332 333-513
Whether title deed

Property
held since
which date
promoter/director
Namdang Bah Limited by virtue of Coal Mines
Bari. Nationalization Act, 1973.
No.20 of 1923- Nationalization Act, 1973.
24.
Tipongpani Limited by virtue of Coal Mines
station site. Nationalization Act, 1973.
hold land at Trading Company in possession by the Company
No.1 Baragolai Limited by virtue of Coal Mines
Gaon. Nationalization Act, 1973.
No.2 Baragolai Limited by virtue of Coal Mines
Gaon. Nationalization Act, 1973.
11 no Grant Limited by virtue of Coal Mines
Baragolai. Nationalization Act, 1973.
Ledo Kol Para. Limited by virtue of Coal Mines
Nationalization Act, 1973.
6 No. Grant Limited by virtue of Coal Mines
Lekhapani. Nationalization Act, 1973.
Ledo town. Limited by virtue of Coal Mines
Nationalization Act, 1973.
Lekhapani Limited by virtue of Coal Mines
colliery line Nationalization Act, 1973.
(Nepali Gaon).
Tipongpani Limited by virtue of Coal Mines
ward. Nationalization Act, 1973.
10.24 Ha. * Assam Railways and No Since 1973 Lands were acquired or came
free hold land Trading Company in possession of the Company
at Namdang Limited by virtue of Coal Mines
Special patta. Nationalization Act, 1973.
Whether title deed

Property
held since
which date
promoter/director
0.92 Ha. * Title deeds are not Not Available Not We understand that the Land
freehold Lands available Available is situated in the State of
at Tura Office, Meghalaya which is under
Meghalaya Six Schedule of Indian
Eastern Coalfields.
Diversion of 43.25 Title deeds are not Not Available Not 89.36 HA of Land have
98.59 Ha. of available Available already allotted to the North
Forest Land for Eastern Coalfields by the
Tikak State Government vide letter
no ECF202385/2022/134
dt 10.05.2022 and ECF
No 202389/2022/22 dated
10.05.2022. However, title
deed in the name of Coal India
Limited is not yet issued as
payment has not made to the
State Government.
*Separate and distinct gross carrying value is not available
d) The company has not revalued any of its Property, during the year and thereby, the quarterly returns or
Plant and Equipment and Intangible Assets during the statements filed by the Company with such banks do
year. Accordingly, reporting under paragraph 3 (i)(d) of not include the details of trade receivable, inventories
the Order is not applicable to the Company; and and other current assets and accordingly the reporting
requirement under clause 3(ii)(b) of the Order is not
e) According to the information and explanations given applicable to the company.
to us and as represented by the management, no
proceedings have been initiated during the year or are iii) The Company has made investments in mutual fund and
pending against the Company as at March 31, 2023 shares of Joint Ventures during the year. Other than this,
for holding any benami property under the Benami according to the information and explanations given to us
Transactions (Prohibition) Act, 1988 (45 of 1988) and and on the basis of our examination of the records of the
rules made thereunder, as amended from time to time. Company, the Company has not made any investments,
Accordingly, reporting under paragraph 3 (i)(e) of the granted any secured and unsecured loan, provided any
Order is not applicable to the Company. guarantee or security or granted any advances in the nature
of loans, secured or unsecured, to companies, firms, limited
ii) a) The inventories of the Company have been physically liability partnership or any other parties during the year.
verified by the management during the year at
reasonable intervals and in our opinion coverage and a) As stated above , the Company has not granted any
procedure of such verification by the management is secured or unsecured loan or provided any guarantee
appropriate having regard to the size of the Company or security or granted any advances in the nature of
and nature of its inventory. The discrepancies noticed loans, secured or unsecured, to companies, firms,
on physical verification of inventories were not more limited liability partnership or any other parties during
than 10% or more in aggregate for each class of the year and hence reporting under paragraph 3 (iii)(a)
inventory and have been properly dealt with in the of the Order is not applicable;
books of account; and
b) In respect of investments made in Joint Venture during
b) According to the information and explanations given to the year, same being long term strategic in nature,
us and on the basis of our examination of the records terms and conditions thereof as such are prima facie
of the Company, the Company has been sanctioned not prejudicial to the Company’s interest ;
working capital limits amounting to H 430 crore from
consortium of banks during the year on the basis of c) According to the information and explanations given to
the security of current assets. No working capital loan us and on the basis of our examination of the records
against such sanction has been availed and utilised of the Company, in respect of the loan given during the
002-115 116-332 333-513
earlier year and advances in the nature of loans granted or any amount deemed to be deposits from public covered
to employees, the terms and conditions for repayment under Sections 73 to 76 or any other relevant provisions of
of principal and interest have been stipulated and the Act and rules framed thereunder. Accordingly reporting
repayment thereof have generally been made regularly under paragraph 3(v) of the Order is not applicable to the
as per the stipulations; Company;
d) According to the information and explanations given to vi) We have broadly reviewed the books of account maintained
us and on the basis of our examination of the records by the Company pursuant to the Rules made by the Central
of the Company, having regards to the terms and Government for the maintenance of cost records under
conditions of the loans or advances in the nature of Section 148 (1) of the Act in respect of the Company’s
loan there is no overdue amount for more than ninety products to which the said rules are made applicable and
days in respect of loans given including interest thereon; are of the opinion that prima facie, the prescribed records
have been maintained. We have, however, not made a
e) According to the information and explanations given to detailed examination of the said records with a view to
us and on the basis of our examination of the records determine whether they are accurate or complete;
of the Company, there was no loan or advance in the
nature of loans granted falling due during the year, which vii) According to the information and explanations given to us
has been renewed or extended or fresh loans granted and based on our examination of the books of accounts:
to settle the overdue of existing loans or advances in
the nature of loans given to same parties; and a) During the year, the Company has generally been
regular in depositing with the appropriate authorities
f) According to the information and explanations given to undisputed statutory dues including Goods and Service
us and on the basis of our examination of the records of Tax, Provident Fund, Income Tax, Sales Tax, Service
the Company, the Company has not granted any loans Tax, Duty of Custom, Duty of Excise, Value Added Tax,
or advances in the nature of loans either repayable on Cess and any other statutory dues as applicable to it.
demand or without specifying any terms or period of According to the information and explanations given to
repayment. us, there is no undisputed amounts payable in respect
of these which were in arrears as on March 31, 2023
iv) In our opinion and according to the information and for a period of more than six months from the date they
explanations given to us, the Company has complied with become payable.
the provisions of section 185 and 186 of the Act, in respect
of grant of loans, making investments and providing As informed to us, Employee’s State Insurance is not
guarantees and securities, as applicable; applicable to the Company;
v) According to the information and explanation given to us b) The details of statutory dues referred to in sub clause
and based on our examination of the books and records of (vii) (a) above, which have not been deposited on
the Company, the Company has not accepted any deposits account of any dispute are as follows:
(H in crore)
Period to which Forum where Amount
Name of the Nature of Gross Amount Amount not
the amount the dispute is deposited
Statute Dues Under dispute deposited
relates pending under protest
Income Tax Act Income Tax 78.07 AY 2011-12 ITAT 20.00 58.07
81.58 AY 2012-13 ITAT 0.00 81.58
90.30 AY 2013-14 ITAT 0.00 90.30
29.09 AY 2018-19 CIT (A) 0.00 29.09
Total 279.04 20.00 259.04
Central Excise Central excise 4.45 FY 2010-11 CESTAT 0.17 4.28
Act,1944 to FY 2014-15
viii) In our opinion and on the basis of information and ix) In our opinion and on the basis of information and
explanations given to us and as represented by the explanations given to us by the management, the Company
management, we have neither come across nor have has not taken any loan from Banks, Financial Institutions or
been informed of transactions which were previously any other lender and accordingly, clause 3 (ix) of the order
not recorded in books of account and that have been is not applicable to the Company;
surrendered or disclosed as income during the year in
the tax assessments under the Income Tax Act, 1961 and x) According to the information and explanations given to us
accordingly reporting under paragraph 3 (viii) of the Order and based on our examination of books of account of the
is not applicable; Company:
a) The Company has not raised monies by way of initial accordance with the guidance provided in SA 610 “Using
public offer or further public offer (including debt the work of Internal Auditors”. In case of Mumbai Regional
instruments) or term loans and hence reporting under Sales office, where volume of operations are not as such
paragraph 3(x)(a) of the Order is not applicable to the material, no internal audit report has been made available
Company; and to us;
b) The Company has not made any preferential allotment xv) According to the information and explanations given to us
or private placement of shares or convertible and as represented to us by the management and based
debentures (partly, fully, or optionally) during the year on our examination of the records of the Company, the
and accordingly, reporting under paragraph 3(x)(b) of Company has not entered into non-cash transactions with
the Order is not applicable to the Company. directors or persons connected with him. Accordingly,
paragraph 3(xv) of the Order is not applicable;
xi) a) During the course of our examination of books and
records of the Company carried out in accordance xvi) a) In our opinion, the Company is not required to be
with generally accepted auditing practices in India, registered under section 45-IA of the Reserve Bank of
and according to the information and explanation India Act, 1934. Hence, reporting under clause 3(xvi)(a)
given to us, we have neither come across any instance of the Order is not applicable;
of fraud by the Company or on the Company noticed
or reported during the year, nor have been informed of b) The Company has not conducted any Non-Banking
any such cases by the management; Financial or Housing Finance Activities without a valid
certificate of registration as required under Reserve
b) No report under sub-section (12) of section 143 of the Bank of India Act, 1934. Hence, reporting under clause
Act has been filed in Form ADT-4 as prescribed under 3(xvi)(b) of the Order is not applicable;
Rule 13 of Companies (Audit and Auditors) Rules,
2014 (as amended from time to time) with the Central c) The Company is not a Core Investment Company (CIC)
Government, during the year and up to the date of this as defined in the regulations made by the Reserve
report; and Bank of India. Hence, reporting under clause 3(xvi)© of
the Order is not applicable; and
c) According to the information and explanation given
to us and based on the examination of the books d) In our opinion and based on the representation
of accounts of the company, no whistle blower received by us from the management, there is no core
complaints have been received during the year by the investment company within the Group (as defined
company. Accordingly, reporting under paragraph 3(xi) in the Core Investment Companies (Reserve Bank)
(c) of the Order is not applicable. Directions, 2016) and accordingly reporting under
clause 3(xvi)(d) of the Order is not applicable.
xii) In our opinion and according to the information and
explanations given to us, the Company is not a Nidhi xvii) Based on the examination of the books of accounts, we
company and accordingly the Nidhi Rules, 2014 is not report that the Company has neither incurred cash losses in
applicable to it, hence reporting under paragraph 3(xii) (a, b current financial year covered by our audit nor has incurred
and c) of the Order is not applicable to the Company; cash losses in the immediately preceding financial year;
xiii) According to the information and explanations given to xviii) There has been no resignation of the statutory auditors of
us and based on our examination of the records of the the Company during the year and hence reporting under
Company, transactions with the related parties are in paragraph 3(xviii) of the Order is not applicable;
compliance with provisions of Section 177 and 188 of the
xix) According to the information and explanations given to us
Act wherever applicable and details of such transactions
and based on the financial ratios (refer note no. 38(7)(m) to
have been disclosed in the Standalone Financial Statements
the standalone financial statements), ageing and expected
as required by the applicable accounting standards;
dates of realization of financial assets and payment of
xiv) The Company has appointed a firm of Chartered financial liabilities, other information accompanying the
Accountants to carry out the internal audit of the Company. standalone financial statements, our knowledge of the
In our opinion and according to the information and Board of Directors and management plans and based on our
explanations given to us, the internal audit system is examination of the evidence supporting the assumptions,
commensurate with the size and nature of its business. We nothing has come to our attention, which causes us to
have considered, during the course of our audit, the reports believe that any material uncertainty exists as on the date of
of the internal auditor for the period under audit issued to the audit report that Company is not capable of meeting its
the Company during the year and till date in determining liabilities existing at the date of balance sheet as and when
the nature, timing and extent of our audit procedures in they fall due within a period of one year from the balance
002-115 116-332 333-513
sheet date. We, however, state that this is not an assurance xxi) The reporting under paragraph 3(xxi) of the Order is not
as to the future viability of the Company. We further state applicable in respect of audit of Standalone Financial
that our reporting is based on the facts up to the date of Statements.
the audit report and we neither give any guarantee nor any
assurance that all liabilities falling due within a period of one
year from the balance sheet date, will get discharged by the
Company as and when they fall due; and
For Lodha & Co
xx) According to the information and explanations given to us Chartered Accountants
and as represented to us by the management and based Firm's ICAI Registration Number: 301051E
on our examination of the records of the Company, there
was no unspent amount on account of Corporate Social Sd/-
Responsibility (CSR) on other than ongoing projects R. P. Singh
envisaged under Section 135 of the Act and hence, (Partner)
reporting under paragraph 3(xx)(a) and (b) of the Order are Place: Kolkata Membership No. 052438
not applicable to the Company; Date: 7th May, 2023 UDIN: 23052438BGXSBT1343
“ANNEXURE-B” TO THE INDEPENDENT AUDITORS’ REPORT
(Referred to in Paragraph 2 of “Report on Other Legal and Regulatory requirements” section of our Audit Report)
Part I - Directions
S.
Directions Auditors’ Reply on the action taken on the directions
No.
1. Whether the Company has system in place The Company has implemented a new ERP Software (SAP) with effect from
to process all the accounting transactions April 01, 2021 in case of Head Office Kolkata, Delhi Office, Mumbai and
through IT System? If yes, the implications Chennai Regional Sales Office (RSO) and with effect from August 01, 2021 in
of processing of accounting transactions case of North Eastern Coalfield. All the information has been migrated from
outside IT system on the integrity of old accounting software Coalnet to SAP on the implementation dates. Post
the accounts along with the financial implementation of SAP, accounting of all the transactions is being processed
implications, if any, may be stated. through the SAP except hospital inventory and valuation of closing stock of
coal at North Eastern Coalfield which are maintained manually. Further, various
informations including ageing analysis which are required to be disclosed in
the financials as per the Act, are also prepared manually by the management.
As per information and explanations given to us, post completion of
stabilization phase on 31” March 2022, the system is under AMC phase.
No system audit and migration audit covering the implications of processing
of such transactions, any consequential effect on the integrity of the accounts,
along with related financial implications, etc. have been carried out.
2. Whether there is any restructuring of As per the information and explanations given by the management, there is
an existing loan or cases of waiver/ no loan taken from any lender by the Company.
write off of debts/loans/interest etc.
made by a lender to the company due
to the company's inability to repay the
loan? If yes, the financial impact may be
stated. Whether such cases are properly
accounted for? (In case, lender is a
Government company, then this direction
is also applicable for statutory auditor of
Lender company).
3. Whether funds (grants/subsidy etc.) According to the information and explanations given to us and on the basis
received / receivable for specific schemes of our examination of the records of the Company, no grants/funds were
from Central / State Government or received/accounted for during the year.
agencies were properly accounted for / Further, grant for railway siding amounting to H 1.72 crore received by North
utilized as per its terms and conditions? Eastern Coalfield from Central Government in the FY 2019-20 was properly
List the cases of deviation. accounted for as per the terms and conditions.
Part II - Additional Directions:
S.
Sub-direction Auditors’ Reply on the action taken on the directions
No.
1. Whether coal stock measurement was done According to the information and explanations given to us and on the basis
based on Yellow Book? Whether physical of our examination of the records of the Company, coal stock measurement
stock measurement reports are accompanied is done keeping in view the Yellow Book. Physical stock measurement
by contour map in all cases? Whether approval report of coal stock as on March 31, 2023 at North Eastern Coalfields has
of the competent authority was obtained for been accompanied by contour maps. No new heaps were created in any of
new heap, if any, created during the year. the mines of North Eastern Coalfields during the financial year.
2. Whether the company has conducted physical As per the information and explanations given by the management, there
verification exercise of assets and properties is no such merger/split/restructure of any area during the year.
at the time of merger/ split/restructure of an
area. If so, whether the concerned subsidiary
followed the requisite procedure.
002-115 116-332 333-513
S.
Sub-direction Auditors’ Reply on the action taken on the directions
No.
3. Whether separate Escrow Accounts for each Separate escrow account for each mine (Tikak extension, Lekhapani
mine has been maintained in CIL and its OCP, Tipong, Ledo OCP, Tikak OCP and Tirap OCP) of North East
subsidiaries. Also examine the utilization of Coalfields (NEC), the production unit of Coal India Limited, has been
the fund of the account. maintained. No such fund as explained by the management has been
withdrawn during the year.
4. Whether the impact of penalty for illegal According to the information and explanations given to us, no penalty
mining as imposed by the Hon’ble Supreme for illegal mining has been imposed by the Hon’ble Supreme Court/
Court/ National Green Tribunal/ State Pollution National Green Tribunal/ State Pollution Control Board during the year
Control Board has been duly considered and on the Company.
accounted for?
5. Whether any independent Assessment/ No Independent Assessment/Certification in respect of migration
Certification in respect of migration process process of data from Coalnet portal to SAP has been carried out during
of data from Coalnet portal to SAP has been the year.
done.
For Lodha & Co

Firm's ICAI Registration Number: 301051E
Sd/-
R. P. Singh
(Partner)
Place: Kolkata Membership No. 052438
Date: 7th May, 2023 UDIN: 23052438BGXSBT1343
ANNEXURE “C” TO THE INDEPENDENT AUDITORS’ REPORT
(Referred to in paragraph 3 (f) under ‘Report on Other Legal and Regulatory Requirements’ of our report of even date)
We have audited the internal financial controls with reference material misstatement of the Standalone financial statements,
to the Standalone Financial Statements of Coal India Limited whether due to fraud or error.
(hereinafter referred to as ‘the Company’) as of March 31,
2023 in conjunction with our audit of the Standalone Financial We believe that the audit evidence we have obtained is sufficient
Statements of the Company for the year ended on that date. and appropriate to provide a basis for our audit opinion on
the Company’s internal financial controls with reference to
Standalone financial statements.
Management’s Responsibility for Internal
Financial Controls
Meaning of Internal Financial Controls with
The Company’s management is responsible for establishing reference to Standalone Financial Statements
and maintaining internal financial controls based on the
internal control with reference to the financial statements A Company's internal financial control with reference to
criteria established by the Company considering the essential Standalone Financial Statements is a process designed to
components of internal control stated in the Guidance Note on provide reasonable assurance regarding the reliability of
Audit of Internal Financial Controls over Financial Reporting financial reporting and the preparation of Standalone Financial
(the ‘Guidance Note”) issued by the Institute of Chartered Statements for external purposes in accordance with generally
Accountants of India. These responsibilities include the design, accepted accounting principles. A Company's internal financial
implementation and maintenance of adequate internal financial control with reference to Standalone Financial Statements
controls that were operating effectively for ensuring the orderly includes those policies and procedures that (1) pertain to the
and efficient conduct of its business, including adherence maintenance of records that, in reasonable detail, accurately
to Company’s policies, the safeguarding of its assets, the and fairly reflect the transactions and dispositions of the
prevention and detection of frauds and errors, the accuracy assets of the Company; (2) provide reasonable assurance that
and completeness of the accounting records, and the timely transactions are recorded as necessary to permit preparation
preparation of reliable financial information, as required under of Standalone Financial Statements in accordance with
the Act. generally accepted accounting principles, and that receipts
and expenditures of the Company are being made only in
accordance with authorisations of management and directors of
Auditors’ Responsibility the Company; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorised acquisition,
Our responsibility is to express an opinion on the Company's
use, or disposition of the Company's assets that could have a
Internal Financial Controls with reference to Standalone
material effect on the Standalone Financial Statements.
Financial Statements based on our audit. We conducted our
audit in accordance with the Guidance Note issued by the
Institute of Chartered Accountants of India and the Standards Inherent Limitations of Internal Financial
on Auditing prescribed under Section 143(10) of the Act, to the Controls with reference to Standalone Financial
extent applicable to an audit of Internal Financial Controls with Statements
reference to the Financial Statements. Those Standards and the
Guidance Note require that we comply with ethical requirements Because of the inherent limitations of internal financial
and plan and perform the audit to obtain reasonable assurance controls with reference to the financial statements, including
about whether adequate internal financial control with reference the possibility of collusion or improper management override
to Standalone Financial Statements were established and of controls, material misstatements due to error or fraud may
maintained and if such controls operated effectively in all occur and not be detected. Also, projections of any evaluation
material respects. of the internal financial controls with reference to the financial
statements to future periods are subject to the risk that
Our audit involves performing procedures to obtain audit the internal financial control with reference to the financial
evidence about the adequacy of the internal financial controls statements may become inadequate because of changes in
with reference to Standalone financial statements and their conditions, or that the degree of compliance with the policies or
operating effectiveness. Our audit of internal financial controls procedures may deteriorate.
with reference to Standalone financial statements included
obtaining an understanding of such internal financial controls
Opinion
with reference to Standalone financial statements, assessing the
risk that a material weakness exists, and testing and evaluating According to the information and explanations given to us
the design and operating effectiveness of internal control based and based on our audit, in our opinion, the Company has
on the assessed risk. The procedures selected depend on the generally maintained, in all material respects, adequate internal
auditors’ judgement, including the assessment of the risks of financial controls with reference to the financial statements and
002-115 116-332 333-513
such internal financial controls with reference to the financial assets, trade payables, other financial liabilities and other
statements were generally operating effectively as of March 31, current and non-current liabilities in the company are
2023 based on the internal control with reference to the financial pending independent confirmation and consequential
statements criteria established by the Company considering reconciliation thereof.
the essential components of internal controls stated in the
“Guidance Note on Audit of Internal Financial Controls over Our opinion is not modified in respect of the above matters.
Financial Reporting” issued by the Institute of Chartered
Accountants of India.
However further improvement are required in respect of the

following:
For Lodha & Co
i) The documentation of Internal Financial Controls of the Chartered Accountants
Company in respect of its risk assessment process, risk Firm's ICAI Registration Number: 301051E
analysis of different functional areas and incorporating
the process flows at departmental levels including risk Sd/-
mitigations; and R. P. Singh
(Partner)
ii) Note No. 38(7)(j) regarding certain debit/credit balances Place: Kolkata Membership No. 052438
including trade receivables, other current and non-current Date: 7th May, 2023 UDIN: 23052438BGXSBT1343
ANNEXURE 4
The comments of the Comptroller and Auditor General of India on

Consolidated Financial Statements of Coal India Limited
002-115 116-332 333-513

002-115 116-332 333-513

002-115 116-332 333-513
Management replies on comments of C & AG on Consolidated Financial Statements in Supplementary

Audit of FY 2022-23
S.
Observation from C&AG Management Reply
No.
1 Comment on Financial Position The matter of receivables from NTPC for the
A.1 Balance Sheet period from September 2017 to 02 August 2020 on
account of Surface transportation charges (STC) for
Assets
the supply of coal for a lead distance of 0-3 Kms.
Current Assets Trade Receivable (Note-13): K 13060.48 crore is pending for decision at AMRCD (Mechanism
The above head includes an amount of H 416.38 crore receivable under Department of Public Enterprises) where
from NTPC by Eastern Coalfields Limited (ECL), Northern Coalfields management expects favorable result.
Limited (NCL), and Mahanadi Coalfields Limited (MCL) for the period Further, the group follows recognition of Expected
from September 2017 (in NCL and ECL)/ February 2018 (in MCL) to 02 credit loss using the simplified approach for
August 2020 on account of Surface Transportation Charges (STC) for trade receivables in accordance with Ind AS 109,
supply of coal for a lead distance of 0-3 KMs. Financial Instrument. As the matter is pending for
Prior to September 2017/ February 2018, Agreement with NTPC allows decision at AMRCD and there is no indication of a
charging STC for supply of coal to NTPC plants located at a distance of significant increase in credit risk. Hence, no credit
beyond 3 KM. However, ECL and NCL started levying STC unilaterally loss is recognized.
for 0-3 KMs from September 2017 and MCL from February 2018. The audit observation includes a conclusion that
An agreement for charging STC for the distance 0-3 KMs was entered the possibility of recovery from NTPC is remote.
into with NTPC by these three subsidiaries only in August 2020 which However, it is already noted that the decision on the
states that the modification shall be applicable from the date of dispute between NTPC and CIL on the subject is
signing, i.e, August 2020. NTPC refused to acknowledge the claims for pending at AMRCD.
0-3 KMs pertaining to the period prior to August 2020. The validity of the observation in the supplementary
In absence of any agreement for charging of STC for 0-3 KMS for the audit is uncertain, as it appears to overlook the
period between September 2017/February 2018 and 2 August 2020, requirements outlined in Ind AS 109, the ongoing
chances of recovery of H 416.38 crore is very remote and suitable status of the matter being considered by AMRCD,
provision should have been created. Thus, non-creation of provisions and the management's assessment that a favorable
resulted in overstatement of trade receivables (net of allowance for resolution is possible in this case.
bad and doubtful debts) and overstatement of profit for the year to The group follows the above-mentioned simplified
that extent. approach for trade receivables in accordance with
The issue has been commented in the consolidated financial Ind AS 109. Diverse practices observed in this
statements for the year 2021-22 including receivable accounted regard within any company of the group will undergo
for by South Eastern Coalfields Limited (SECL) amounting to 63.33 thorough review in order to ensure uniformity in the
crore but excluding MCL as it had already created a provision in their future.
books in the year 2020-21.However, in 2022-23, while MCL reversed
the amount of provision, SECL booked the entire receivables towards
STC as provision, thereby revealing diverse accounting practices
followed by CIL subsidiaries. Further, no action has been taken by the
Managements of ECL and NCL despite repeated comments on their
Financial Statements for the years 2020-21 and 2021-22.
2 A. Comment on Profitability The Geological report and mapping of Rajmahal
B.1 Statement of Profit & Loss - Expenses OCP, along with studies by CSIR-NML Jamshedpur,
IIT-BHU, and CMPDIL confirm the presence of an
Provisions (Note-33): K 374.93 crore
aquifer system, causing an inevitable increase in
This does not include H 214.52 crore being provision towards refund T.M %.
claim filed by M/s NTPC in respect of Rajmahal Area of Eastern
Due to the Geological and meteorological
Coalfields Limited (ECL). The claim was filed due to excess surface
conditions, achieving the current surface
moisture content in coal which is beyond stipulated norms of Fuel
moisture limit specified in the existing FSA
Supply Agreement for the years 2016-17 to 2021-22. Against the total
for Rajmahal Coal block is challenging.
claim amount of H 258.72 crore, a provision of only H 44.20 crore was
A proposal is being considered to extend the
created in books of accounts.
surface moisture limit in the FSA for the Rajmahal
Project, taking into account the mine's viability and
seam characteristics.
S.
Observation from C&AG Management Reply
No.
A reference is invited to Para 14 of Ind AS-37 on “Provisions, contingent An outstanding due of H 44.20 crore has been
liabilities, and contingent assets” wherein it is stated that a provision acknowledged for excess surface moisture of
shall be recognized when an entity has a present obligation (legal or NTPC Farakka, while claims by NTPC Farakka of
constructive) as a result of a past event; it is probable that an outflow H 38.91 crore and NTPC Kahalgaon of H 175.61
of resources embodying economic benefits will be required to settle crore are pending verification.
the obligation; and a reliable estimate can be made of the amount of The provision required with respect to expected
the obligation. outflow as stated above in this respect has been
Short provision of refund claims of NTPC in respect of surface moisture made. Pending the revision of the FSA, no further
content resulted in understatement of Provision with corresponding provision at this stage is required as the likelihood
overstatement of Profit for the year to the tune of H 214.52 crore. of resource outflow as per the current estimate is
remote in this respect.
3 Comment on Disclosure The office of C&AG already dropped the
C.1 Balance Sheet observations on this issue during the phase II
audit of the financial year 2016-17 based on the
Liabilities
assurance given by CIL management.
Provisions
Based on the assurance given by CIL management,
Stripping Activity Adjustment (Note-21): K 56476.01crore the issue was forwarded to the Expert Advisory
As per the Ind AS-01, an entity has to provide information that is not Committee (EAC) of the Institute of Chartered
presented elsewhere in the financial statements but is relevant to an Accountants of India (ICAI). Subsequently, EAC
understanding of any of them. Further, it states that when an entity of ICAI forwarded the matter to the Accounting
departs from a requirement of an Ind AS it had to disclose that it has Standard Board of India.
complied with applicable Ind ASs, except that it has departed from a The matter is under discussion with ASB and further
particular requirement to present a true and fair view. decisions will be taken in light of the opinion of the
Institute of Cost Accountants of India (ICMAI), in 2017, issued Cost Accounting Standard Board.
Accounting Standard 23 (CAS-23) to bring uniformity, consistency
in the principles, methods of determining and assigning Overburden
Removal Cost (OBR) with reasonable accuracy. CAS-23 while
defining, the various key components of OBR assessment also define
methodology for Advance Stripping.
Also, Ind AS 16 stated that the stripping activity has to be recognized
as asset and shall be depreciated or amortised on a systematic basis,
over the expected useful life.
The Accounting Policy of Coal India Limited (CIL) and its subsidiaries
related to Stripping Activity Adjustment stipulates that in the mines
with rated capacity of one million tonne per annum and above, the cost
of Stripping is charged on technically evaluated average stripping ratio
(OB: COAL) at each mine with due adjustment for stripping activity
assets and ratio variance account after the mines are brought to
revenue. Net of balances of stripping activity asset and ratio variance
in the Balance Sheet date is shown as Stripping Activity Adjustment
under the head Non-Current Provisions/Other Non-Current Assets as
the case may be.
The above policy on OBR adopted by CIL and its subsidiaries is not
in compliance with the provisions of Ind AS 16 (appendix B). Further,
the projects of Central Coalfields Limited (CCL), while computing
the advance stripping, adopted different methods, which is a non-
compliance of the provisions of CAS-23.
CIL had never reviewed the above accounting policy with reference to
the provisions of Ind AS-16 as well as CAS-23, Also, the explanation of
continuing with the present system of OBR assessment is in deviation
of provisions of CAS-23 and Ind AS 16 and is not disclosed in the
accounts which is non-compliance of Ind AS-01.
002-115 116-332 333-513
ANNEXURE 4 (A)
AUDITORS REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2023
INCLUDING REPORT ON THE INTERNAL FINANCIAL CONTROLS UNDER CLAUSE (i) OF SUB-SECTION 3 OF SECTION 143
OF THE COMPANIES ACT, 2013 (“THE ACT”)
INDEPENDENT AUDITOR’S REPORT

To the Members of Coal India Limited
Report on the Audit of the Consolidated Financial obtained by other auditors in terms of their reports referred to in
Statements the ‘Other Matters’ section below is sufficient and appropriate
to provide a basis for our audit opinion on the Consolidated
Opinion Financial Statements.
We have audited the accompanying Consolidated Financial Emphasis of Matter

Statements of Coal India Limited (hereinafter referred to as the
‘Holding Company”), and its subsidiaries (Holding Company We draw attention to the following matters relevant to the
and its subsidiaries together referred to as “the Group”), Consolidated Financial Statements:
and its share of profit in Joint Ventures, which comprise
the Consolidated Balance Sheet as at March 31, 2023, the a. Note No. 11(5), regarding carrying forward of input tax
Consolidated Statement of Profit and Loss (including other credit on GST paid on input materials/services available for
comprehensive income), the Consolidated Statement of utilization against GST on output. GST liability on coal is 5%
Changes in Equity and the Consolidated Cash Flow statement whereas the inputs are being taxed at 18% and GST Input tax
for the year then ended and notes to the Consolidated Financial credit getting accumulated amounting to H 11,589.85 crore and
Statements, including a summary of significant accounting outstanding as at March 31, 2023 (March 31, 2022: H 8,899.75
policies and other explanatory notes for the year ended on crore) largely relate to such inverted duty structure. The amount
that date (hereinafter referred to as “the Consolidated Financial is not refundable in terms of notification issued in this respect
Statements”). and is therefore available only for utilization against duty on
output. Consequential adjustments and impact thereof pending
In our opinion and to the best of our information and according determination of amount as such cannot be commented upon
to the explanations given to us and based on the consideration by us.
of reports of other auditors on separate Financial Statements
and on the other financial information of the subsidiaries, b. Note No. 13(4), regarding Trade receivables which includes
the aforesaid Consolidated Financial Statements give the H 416.38 crore in respect of certain subsidiaries namely Eastern
information required by the Companies Act, 2013 (“the Act”) in Coalfields Limited (ECL), Northern Coalfields Limited (NCL) and
the manner so required and give a true and fair view in conformity Mahanadi Coalfields Limited (MCL) on account of transportation
with the Indian Accounting Standards prescribed under section charges for the period prior to August 2020 recoverable from
133 of the Act, read with the Companies (Indian Accounting one of the customer i.e., NTPC against supply of coal for part
Standards) Rules, 2015, as amended from time to time, (“Ind of the lead range of 0-3 kms. The matter being disputed by
AS”) and other accounting principles generally accepted in the said party and pending before AMRCD (Mechanism under
India, of the consolidated state of affairs of the Group including Department of Public Enterprises) for their decision, outcome
its Joint Ventures, as at March 31, 2023, of consolidated profit, thereof and resultant impact as such in this respect is currently
consolidated changes in equity and its consolidated cash flows not ascertainable.
for the year then ended.
c. The Regulation 17 read with Schedule II of SEBI (Listing
Basis for Opinion Obligations and Disclosure Requirements) Regulations, 2015
dealing with mandatory requirement of an independent woman
We conducted our audit in accordance with the Standards on director is yet to be complied with by the Holding company.
Auditing (SAs) specified under section 143(10) of the Companies
Act, 2013. Our responsibilities under those Standards are Our opinion is not modified in respect of these matters.
further described in the Auditors’ Responsibilities for the Audit
Key Audit Matters
of the Consolidated Financial Statements section of our report.
We are independent of the Group and its Joint Ventures in Key audit matters are those matters that, in our professional
accordance with the Code of Ethics issued by ICAI, and we judgment, were of most significance in our audit of the
have fulfilled our other ethical responsibilities in accordance Consolidated Financial Statements of the current year. These
with the provisions of the Companies Act, 2013. We believe matters were addressed in the context of our audit of the
that the audit evidence obtained by us and the audit evidence Consolidated Financial Statements as a whole, and in forming
our opinion thereon, we do not provide a separate opinion on these matters. Considering the requirement of Standard on Auditing
(SA 600) on ‘Using the work of Another Auditor’, including materiality, below Key Audit Matters have been reproduced from the
Independent Auditors’ report on the audit of the Standalone Financial Statements of Holding company and subsidiaries whose
financial statements have been audited. In cases of certain subsidiaries where their independent auditors have not incorporated any
of the below mentioned Key Audit Matter paragraph in their independent auditors’ report and have not qualified their opinion with
respect to the matter covered herein below, it has been assumed that all policies and required procedures have been followed in
respect of such paragraph and is in line with our assumptions and judgements described below. We have determined the matters
described below to be the key audit matters for incorporation in our report.

Stripping Activity Expense/ Adjustment: Our Audit procedures based on which we arrived at the conclusion
In case of opencast mining, the mine waste materials regarding reasonableness of adjustments of stripping activities
(“overburden”) which consists of soil and rock on the top includes the following:
of coal seam is required to be removed to get access to • Obtained working data of Stripping Adjustment and checked that
the coal and its extraction. This waste removal activity the total expense incurred during the year is allocated between
is known as ‘Stripping’. In opencast mines, the Group Coal production and Overburden. Ensured about accuracy and
has to incur such expenses over the life of the mine (as completeness of expenses considered in calculation of ratio;
technically estimated). • Checked that the ratio variance is calculated on the basis of
Therefore, as per the policy followed by the Group, in amount allocated to overburden and OB quantity extracted
respect of the mines with rated capacity of one million during the year correctly;
tonnes per annum and above, cost of Stripping is charged • Performed analytical procedures and test of details for
on technically evaluated average stripping ratio (OB: reasonableness of expenses considered stripping activity
COAL) at each mine with due adjustment for stripping adjustment calculation;
activity and ratio-variance account after the mines are
• Checked that the accounting policy applied and management’s
brought to revenue.
judgments used for Stripping Activity Adjustment are appropriate;
Net of the balances of the adjustment on account of
• Reviewed the requirement of the accounting standards and
stripping activity and ratio variance at the Balance Sheet
practices adopted keeping basic principle of conservatism and
date is shown as Stripping Activity Adjustment under the
consistency; and
head Non - Current Provisions / Other Non-Current Assets
as the case may be. • In respect of various parameters vis-à-vis OBR ratio, expected
mining output and reserve being technical in nature, reliance has
For the purpose of above, reported quantity of overburden
been placed by us on the same.
as per record is considered in calculating the ratio for OBR
accounting where the variance between reported quantity Based on the procedures performed, we have satisfied ourselves
and measured quantity is within the permissible limits. regarding stripping activity expenses/adjustments.
However, where the variance is beyond the permissible
limits, the measured quantity is considered.
We considered this as a key audit matter because such activity
considering the assumptions, estimate, etc. for preparation of
the accounts are peculiar and vital to mining operation.
Ind AS 115 “Revenue from Contracts with Customers”: Our Audit procedures based on which we arrived at the conclusion
Revenue recognition and adjustments for coal quality regarding reasonableness of Revenue recognition includes the
variances involve critical estimates. following:
The revenue recognized by the Group in a particular • Assessment of the application of the provisions of Ind AS 115 in
contract is dependent on the sale agreement / allotment in respect of the Group’s revenue recognition and appropriateness
e-auction for the respective customer. of the estimated adjustments in the process;
Revenue from sale of coal is recognized in consolidated • Obtained and evaluated trend of past results prepared based
financial statements at declared grade of coal. Subsequent on the outcome of test from mutually agreed quality testing
adjustments are made to the transaction price due to grade laboratory or Referee quality testing laboratory;
mismatch/slippage of the transferred coal. The variation • Obtained and evaluated calculation and working of grade
in the contract price if not settled mutually between the slippage provision;
parties to the contract is referred to third party testing and • Evaluated the controls in place for estimation, recognition and
the adjustments required for revenue recognition pending disclosure in consolidated financial statements;
settlement of such dispute. Such adjustments in revenue
• Checking of selected transactions on sample basis and testing
are made on estimated basis following historical trend.
for identification of contracts involving disputes relating to grade
The revenue recognition being a significant matter mismatch/ slippage with respect to the terms of the contract,
involving material adjustment for Grade Slippage requiring evaluation of the satisfaction of performance obligation checking
judgements and estimates for past trend, etc., has been the adjustment to the revenue due to variation in transaction price;
considered to be a key audit matter.
002-115 116-332 333-513

• Reviewed the agreement with the customers and invoices raised
considering the terms and conditions thereof;
• We have performed tests to establish the basis of estimation of
the consideration and whether such estimates are in accordance
with the accounting policy of the Group;
• Reviewed the Adequacy of the disclosure as per Ind AS 115;
• Quality parameters and assessment, require technical knowledge
and therefore reliance have been placed on technical findings
and reports in this respect.
Valuation of defined benefits obligation for employees: Our Audit procedures based on which we arrived at the conclusion
Accounting for defined benefit plans is based on regarding reasonableness of Valuation of defined benefits obligation
actuarial assumptions which require measuring the for employees includes the following:
obligation, evaluating the plan assets and calculating the • Evaluated the key assumptions applied (discount rates, inflation
corresponding actuarial gain or loss, all future cash flows rate, mortality rate) as per the Guidance Note applicable;
discounted to present value for arriving at the obligation. • Assessed the competence, independence, and integrity of
Significant estimates including the discount rates, the actuarial experts;
inflation rates and expected escalation of salary, awards • Controls over the review and approval of actuarial assumptions,
and revisions made from time to time, and the mortality the completeness and accuracy of data provided to external
rate are made in valuing the Group’s defined benefits actuary, and the reconciliation to data used in expert’s calculation
obligations. The Group engages external actuarial were tested;
specialists to assist in selecting appropriate assumptions
• Discussed with the Management in respect of the liability to be
and calculate the obligations. Valuation of the defined
accrued due to defined benefit plan and to understand if there
benefit obligations requires a high degree of estimation
was any inconsistency in the assumptions;
based on vital assumptions and as such adequate
attention is required to be given in this respect during the • Adequacy of the Group’s disclosure as per Ind AS 19 in the notes
course of the audit. is verified;
• Placing reliance on reports submitted by independent actuarial
experts covering various actuarial assumptions and including
discount rates, the inflation rates, escalation of salary and the
mortality rate, etc.
Based on the audit procedures involved, we observed that the
assumptions made by the management in relation to the valuation
were supported by available evidence.
Evaluation of provisions and Contingent Liabilities: Our Audit procedures based on which we arrived at the conclusion
There are a number of litigations including direct and regarding reasonableness of disclosure of contingent liability and
indirect taxes, various claims, etc. pending before various recognition of provisions includes the following:
forums against the Company and the management’s • We have obtained an understanding of the Company’s internal
judgement is required for estimating the amount to be instructions and procedures in respect of estimation, assessment
provided and/or disclosed as contingent liability. and disclosure of contingent liabilities;
We identified this as a key audit matter because the • Understood and tested the design and operating effectiveness
estimates and assessment with respect to these involve of controls as established by the management for obtaining all
a significant degree of management’s judgement, relevant information for pending litigation cases;
interpretations, and may therefore require adequate • Discussed with the management regarding any material
attention to arrive at the required conclusion. developments thereto and latest status of legal matters;
(Refer Note No. 38(1)(a) to the Consolidated Financial • Read various correspondences and related documents
Statements, read with the Accounting Policy No. 2.22) pertaining to litigations involved and relevant external legal
opinions obtained by the management and performed
substantive procedures on estimation supporting the disclosure
of contingent liabilities;
• Examined management’s judgements and assessments in
respect of whether provisions are required;
• Reviewed the management’s assessments of those matters
which have not been provided for or disclosed as contingent
liability since the probability of material outflow has been
considered to be remote;

• Reviewed the adequacy and completeness of disclosures.
Based on the above procedures performed, the estimation of provision
and disclosures for contingent liabilities have been considered to be
adequate and reasonable.
Exploration and Evaluation Assets: Our Audit procedures based on which we arrived at the conclusion
Exploration and Evaluation assets comprise capitalized regarding reasonableness of Impairment of Exploration and
costs which are attributable to the search of coal and Evaluation Assets includes the following:
related resources, pending determination/ assessment of • Obtaining and understanding from management about the
technical feasibility and commercial viability. nature of expenditure capitalized in Exploration and Evaluation
It is valued at cost and adjusted for impairment losses Asset;
after carrying out impairment testing. • Obtained ageing of expenditure incurred on ongoing project
Recoverability of such expenditure is also dependent upon and progress report of ongoing projects from production and
the future cash inflows i.e. on development of ongoing planning department (P and P);
project. • Evaluated the controls in place for recognition and disclosure
As per requirement of Ind AS 36 Impairment of Assets, of exploration and evaluation assets in consolidated financial
Assets are required to be tested for impairment indicators statements;
from time to time. • Obtained and read the policies, processes and procedures in
Impairment provisions and assessment of exploration and respect of identification of impairment indicators, recording
evaluation assets involve critical judgment with respect to and disclosure of impairment charge and reversal therefore. For
technical feasibility and commercial viability of ongoing selected controls we have performed tests of controls;
projects. • Analysed the internal and external factors impacting the value
This is a vital area concerning mining operation and has and feasibility of exploratory assets and assessed, whether there
therefore been considered as Key audit matter for the are any indicators of impairment in line with Ind AS 36;
purpose of our audit. • Reviewed the estimation for reserves and resources and policies
and procedures adopted and read the reports provided by
management’s reserves including from external experts and
internal as well as external third party findings in this respect;
• Compared the production forecasts used for impairment testing
with management’s approved reserves and resources estimates;
• Reliance has been placed on the technical evaluation, parameters
and management’s assessment of technical feasibility of the
exploratory assets and estimation for possible economic value
on completion.
Our procedures did not identify any material exceptions
Information Other than the Consolidated identified above when it becomes available, compare with the
Financial Statements and Auditors’ Report financial statements of the subsidiaries audited by the other
Thereon auditors or the unaudited subsidiaries and Joint Venture duly
certified by the management, to the extent it relates to these
The Holding Company’s Board of Directors is responsible for entities and, in doing so, place reliance on the work of the other
the preparation of the other information. The other information auditors/ management certification and consider whether the
comprises the information included in the Annual Report, but other information is materially inconsistent with the Consolidated
does not include Consolidated Financial Statement, Standalone Financial Statements or our knowledge obtained during the course
Financial Statements and our auditors’ report thereon. The other of our audit or otherwise appears to be materially misstated. Other
information as stated above is expected to be made available to information so far as it relates to the subsidiaries and joint ventures
us after the date of this auditors’ report. is traced from their financial statements audited by the other
auditors or management certified.
Our opinion on the Consolidated Financial Statements does not
cover the other information and we do not express any form of When we read the other information as stated above and if
assurance conclusion thereon. we conclude that there is a material misstatement therein, we
are required to communicate the matter to those charged with
In connection with our audit of the Consolidated Financial
governance and describe necessary actions required as per
Statements, our responsibility is to read the other information
applicable laws and regulations.
002-115 116-332 333-513
Responsibilities of Management and Those As part of an audit in accordance with SAs, we exercise
Charged with Governance for the Consolidated professional judgment and maintain professional skepticism
Financial Statements throughout the audit. We also:
The Holding Company’s Board of Directors is responsible for the • Identify and assess the risks of material misstatement of the
matters stated in section 134(5) of the Companies Act 2013(‘the Consolidated Financial Statements, whether due to fraud
Act”) with respect to the preparation and presentation of these or error, design and perform audit procedures responsive
Consolidated Financial Statements in terms of the requirements to those risks, and obtain audit evidence that is sufficient
of the Companies Act, 2013 that give a true and fair view of and appropriate to provide a basis for our opinion. The
the consolidated financial position, consolidated financial risk of not detecting a material misstatement resulting
performance and consolidated cash flows of the Group including from fraud is higher than for one resulting from error, as
its Joint Ventures in accordance with the accounting principles fraud may involve collusion, forgery, intentional omissions,
generally accepted in India, including the Accounting Standards misrepresentations, or the override of internal control.
specified under section 133 of the Act. The respective Board
• Obtain an understanding of internal financial control
of Directors of the companies included in the Group and of its
relevant to the audit in order to design audit procedures that
Joint Ventures are responsible for maintenance of adequate
are appropriate in the circumstances. Under section 143(3)
accounting records in accordance with the provisions of the
(i) of the Companies Act, 2013, we are also responsible for
Act for safeguarding the assets of the Group and Joint Ventures
expressing our opinion on whether the Holding Company,
and for preventing and detecting frauds and other irregularities;
its subsidiaries and Joint Ventures incorporated in India
selection and application of appropriate accounting policies;
have adequate internal financial controls with reference
making judgments and estimates that are reasonable and
to Consolidated Financial Statements in place and the
prudent; and the design, implementation and maintenance
operating effectiveness of such controls.
of adequate internal financial controls, that were operating
effectively for ensuring the accuracy and completeness of the • Evaluate the appropriateness of accounting policies used
accounting records, relevant to the preparation and presentation and the reasonableness of accounting estimates and
of the Consolidated Financial Statements that give a true and related disclosures made by Management.
fair view and are free from material misstatement, whether
due to fraud or error, which have been used for the purpose • Conclude on the appropriateness of Management’s use of
of preparation of the Consolidated Financial Statements by the the going concern basis of accounting and, based on the
Directors of the Holding, as aforesaid. audit evidence obtained, whether a material uncertainty
exists related to events or conditions that may cast
In preparing the Consolidated Financial Statements, the significant doubt on the ability of the Group and its Joint
respective Board of Directors of the companies included in the Ventures to continue as a going concern. If we conclude
Group and of its Joint Ventures are responsible for assessing that a material uncertainty exists, we are required to draw
the ability of the respective entities to continue as a going attention in our auditors’ report to the related disclosures
concern, disclosing, as applicable, matters related to going in the Consolidated Financial Statements or, if such
concern and using the going concern basis of accounting disclosures are inadequate, to modify our opinion. Our
unless Management either intends to liquidate their respective conclusions are based on the audit evidence obtained up
entities or to cease operations, or have no realistic alternative to the date of our auditors’ report. However, future events
but to do so. or conditions may cause the Group and its Joint Ventures
to cease to continue as a going concern.
The respective Board of Directors of the companies included in
the Group and of its Joint Ventures are also for responsible for • Evaluate the overall presentation, structure and content
overseeing the financial reporting process of the Group and of of the Consolidated Financial Statements, including the
its Joint Ventures. disclosures, and whether the Consolidated Financial
Statements represent the underlying transactions and
Auditors’ Responsibilities for the Audit of the events in a manner that achieves fair presentation.
Consolidated Financial Statements
• Obtain sufficient appropriate audit evidence regarding the
Our objectives are to obtain reasonable assurance about financial information of the entities or business activities within
whether the Consolidated Financial Statements as a whole the Group and its Joint Ventures to express an opinion on
are free from material misstatement, whether due to fraud or the Consolidated Financial Statements. We are responsible
error, and to issue an auditors’ report that includes our opinion. for the direction, supervision and performance of the audit
Reasonable assurance is a high level of assurance, but is not of the Standalone Financial Statements of the Holding
a guarantee that an audit conducted in accordance with SAs Company included in the Consolidated Financial Statements
will always detect a material misstatement when it exists. of which we are the independent auditors. For the other
Misstatements can arise from fraud or error and are considered entities included in the Consolidated Financial Statements,
material if, individually or in the aggregate, they could reasonably which have been audited by other auditors, such other
be expected to influence the economic decisions of users taken auditors remain responsible for the direction, supervision and
on the basis of these Consolidated Financial Statements. performance of the audits carried out by them.
Materiality is the magnitude of misstatements in the Consolidated financial statements. These financial statements and
Financial Statements that, individually or in aggregate, makes other financial information have been audited by other
it probable that the economic decisions of a reasonably auditors whose reports have been furnished to us by the
knowledgeable user of the Consolidated Financial Statements management, and our opinion is based solely on the report
may be influenced. We consider quantitative materiality and of the other auditors.
qualitative factors in (i) planning the scope of our audit work
and in evaluating the results of our work; and (ii) to evaluate 3. The Consolidated financial statements include total assets
the effect of any identified misstatements in the Consolidated of H 0.61 crore and total net assets of H (53.59) crore as at 31st
Financial Statements. March, 2023, total revenues of H NIL crore, total net profit/
(loss) after tax of H (0.17) crore, total comprehensive income
We communicate with those charged with governance of H (0.03) crore and net cash inflow/(outflow) of H 0.03 crore
regarding, among other matters, the planned scope and for the year ended as on 31st March 2023 respectively in
timing of the audit and significant audit findings, including any respect of three subsidiaries, whose financial statements
significant deficiencies in internal control that we identify during have not been audited by us. The Consolidated Financial
our audit. Statements also include the Group’s share of total net profit/
(loss) after tax of H (8.14) crore and total comprehensive
We also provide those charged with governance with a statement income of H (8.11) crore for the year ended as on that date
that we have complied with relevant ethical requirements regarding as considered in the consolidated financial statements, in
independence, and to communicate with them all relationships respect of four Joint Ventures. These financial statements/
and other matters that may reasonably be thought to bear on our information are unaudited and have been certified by the
independence, and where applicable, related safeguards. Management and our opinion on the consolidated financial
statement, in so far as it relates to the amounts and
From the matters communicated with those charged with
disclosures included in respect of these subsidiaries and
governance of the Holding Company, we determine those matters
Joint Ventures, is based solely on such unaudited financial
that were of most significance in the audit of the Consolidated
statements. In our opinion and according to the information
Financial Statements of the current period and are therefore the
and explanations given to us by the Board of Directors,
key audit matters. We describe these matters in our auditors’
these financial statements are not material to the Group.
report unless law or regulation precludes public disclosure
about the matter or when, in extremely rare circumstances, we 4. In case of one Joint Venture (International Coal Ventures
determine that a matter should not be communicated in our Private Limited), the Audited Financial Statements was
report because the adverse consequences of doing so would available up to March 31, 2022 and this has been considered
reasonably be expected to outweigh the public interest benefits for the purpose of Consolidated Financial Statements.
of such communication.
5. The Financial Statements for the period ended March
31, 2023 of the foreign subsidiary Coal India Africana
Other Matters
Limitada have been prepared as per General Accounting
1. The comparative financial information of the Group and Plan for small entities in Mozambique (PGC-PE) and
its Joint Ventures for the year ended 31st March, 2022 have accordingly been considered for consolidation. No
included in these Ind AS Consolidated Financial Statement, adjustments has been made for the differences between
are based on the Consolidated Financial Statements for such financial statement prepared as per General
the year ended 31st March, 2022 audited by predecessor Accounting Plan for small entities in Mozambique (PGC-
auditor, M/s Ray and Ray, an independent firm of Chartered PE) and Indian Generally Accepted Accounting principles
Accountants, whose report for the year ended 31st March, (GAAP).
2022 dated 15th July, 2022 expressed unmodified opinion
As represented by the Management on which we have
on those Consolidated Financial Statements. Reliance
placed reliance, the impact with respect to (3) to (5) above
has been placed by us on the said Consolidated Financial
are not material.
Statements and the report issued thereupon for the purpose
of these Consolidated Financial Statements and the report 6. Note No. 38(8)(j) regarding certain debit/credit balances
issued by us. including trade receivables, other current and non-current
assets, trade payables, other financial liabilities and other
2. We did not audit the financial statements/ financial information
current and non-current liabilities in the Group are subject
of eight subsidiaries (including step down subsidiaries)
to confirmation and consequential reconciliation.
included in the consolidated financial statements for the year
ended 31st March 2023 whose financial statements reflect 7. Note No. 3(7), in case of Mahanadi Coalfields Limited
total assets of H 2,00,027.02 crore and total net assets of (MCL), one of the subsidiary company, 102.36 acres of
H 52,048.00 crore as at March 31, 2023, total revenues freehold land and Record of Rights (ROR) even though in
of H 1,44,994.01 crore, total net profit/(loss) after tax of H the name of the company as per title deeds made available,
27,596.65 crore, total comprehensive income of H 27,986.53 were under reconciliation with books and records as on
crore and net cash inflow/(outflow) of H (307.90) crore for the March 31, 2023.
year ended as on that date as considered in the consolidated
002-115 116-332 333-513
Report on Other Legal and Regulatory iii) Impairment Assessment to conclude whether the
Requirements circumstances and facts suggest whether the
carrying amounts of Exploration and Evaluation
1) As required under Section 143(5) of the Companies Act, Assets exceed the recoverable amounts as per
2013, we give in the “Annexure-A”, a statement on the Indian Accounting Standard 106 on Exploration
matters specified in the directions and additional directions for and Evaluation of Mineral Resources has not
issued by The Comptroller and Auditor General of India been done;
based on the audit reports submitted by their independent
auditors of the respective subsidiaries. As stated in Note (e) In pursuance to the Notification No. G.S.R 463(E) dated
No. 38(4), Financial Statements of three subsidiaries and 5th June, 2015 issued by the Ministry of Corporate
four Joint Ventures are unaudited and in case of one joint Affairs, Section 164(2) of the Companies Act, 2013
venture the audited figures till 31st March 2022 are available pertaining to disqualification of directors, the same is
(herein after collectively termed to as unaudited) and not applicable to Government Companies; and
no report in this respect has been provided to us for our
(f) With respect to the adequacy of internal financial
consideration.
controls with reference to the financial statements of
2) As required by Section 143(3) of the Act, we report, to the the Group and it’s Joint Ventures and the operating
extent applicable, that: effectiveness of such controls, refer to our separate
report in “Annexure – B”.;
(a) We have sought and obtained all the information and
explanations which to the best of our knowledge and 3) As per notification number G.S.R. 463 E dated June 5,
belief were necessary for the purposes of our audit of 2015 issued by Ministry of Corporate Affairs, section 197
the aforesaid Consolidated Financial Statements; of the Act as regards the managerial remuneration is not
applicable to the Group and it’s Joint Ventures, being
(b) In our opinion, proper books of account as required Government companies;
by law relating to preparation of the aforesaid
Consolidated Financial Statements have been kept by 4) With respect to the other matters to be included in the
the Group and it Joint Ventures so far as it appears Auditors’ Report in accordance with Rule 11 of the
from our examination of those books and the reports Companies (Audit and Auditors) Amendment Rules,
of the other auditors; 2021, in our opinion and to the best of our information
and according to the explanations given to us and based
(c) The Consolidated Balance Sheet, the Consolidated on the consideration of reports of the other auditors of
Statement of Profit and Loss including other subsidiaries:
comprehensive income, and the Consolidated
Cash Flow Statement dealt with by this Report are (i) The Group has disclosed the impact of pending
in agreement with the relevant books of account litigations on the consolidated financial position of
maintained for the purpose of preparation of the the Group – Refer Note 38(1)(a) to the Consolidated
Consolidated Financial Statements; Financial Statements;
(d) In our opinion, the aforesaid Consolidated Financial (ii) The Group except WCL, Mahanadi Coalfields Limited
Statements comply with the Indian Accounting (MCL), Central Coalfields Limited (CCL) and Central
Standards specified under Section 133 of the Act Mine Planning & Design Institute Limited (CMPDIL) did
read with the relevant rules issued thereunder except not have any long-term contracts including derivative
in case of Western Coalfields Limited(WCL) where it contracts for which there were any material foreseeable
has been reported by their independent auditor in the losses.
audited financial statements of WCL that:
In case of WCL, South Eastern Coalfields Limited
i) ‘Assets Taken over on Nationalization’ are not (SECL), MCL, CCL and CMPDIL as stated by auditors
classified into proper heads of Property, Plant and of these subsidiaries, they have made necessary
Equipment; provision, as required under the applicable law or
accounting standards, for material foreseeable losses,
ii) The finalization of purchase consideration of if any, on long term contracts including derivatives
certain Property, Plant and Equipment taken over contracts;
by company from the Coal Mines Labor Welfare
Organization is still pending. This has impact (iii) There were no amounts which were required to be
on reported figures of Carrying Value of such transferred to the Investor Education and Protection
Property, Plant and Equipment and Retained Fund by Holding Company and its subsidiaries
Earnings and also on the presentation of Property, except SECL and MCL. There has been no delay in
Plant and Equipment. The impact however is not transferring amounts required to be transferred to
ascertainable and shown as Contingent Liability in the Investor Education and Protection Fund in case
books of WCL; and of SECL. In case of MCL, as stated by the statutory
auditor of that company, according to their view Company shall, whether, directly or indirectly, lend
certain amounts aggregating to H 1.76 crore falls under or invest in other persons or entities identified in
Deposits , had been written back in the year 2022- any manner whatsoever by or on behalf of the
2023 and H 17.37 crore of old unclaimed EMD, SD, Funding Party (“Ultimate Beneficiaries”) or provide
Advance from customer, etc. which also falls under any guarantee, security or the like on behalf of the
the definition of matured deposits under Companies Ultimate Beneficiaries; and
(Acceptance of deposit) Rules, 2014 as the same is
no more in the course of, or for the purpose of the (c) In case of the Holding Company and its eight
business as specified under para 2(c)(xii)(c) of the subsidiaries viz. BCCL, ECL, MCL, SECL,
said Rules. These amounts had not been transferred WCL, CCL, CMPDIL and NCL, based on such
to Investor Education and Protection Fund (IEPF) as audit procedures that the respective auditors
required under section 125(2) of the Companies Act, have considered reasonable and appropriate in
2013; the circumstances, nothing has come to their
notice that has caused them to believe that the
(iv) (a) In case of the Holding Company and its eight representations under sub-clause (a) and (b)
subsidiaries viz. Bharat Coking Coal Limited contain any material mis-statement;
(BCCL), ECL, MCL, SECL, WCL, CCL, CMPDIL
and NCL, the respective managements’ have (v) In case of the Holding Company and its five subsidiaries
represented that, to the best of their knowledge namely NCL, CCL, MCL, CMPDIL and SECL, dividend
and belief, other than as disclosed in the notes declared or paid during the year by the respective
to accounts, no funds have been advanced or company are in compliance with section 123 of the
loaned or invested (either from borrowed funds Companies Act, 2013. In case of three subsidiaries
or share premium or any other sources or kind namely BCCL, ECL, WCL, no dividend has been
of funds) by the Company to or in any other declared or paid during the year and hence compliance
person(s) or entity(ies), including foreign entities with respect to section 123 of the Companies Act,
(“Intermediaries”), with the understanding, 2013 are not applicable to said three subsidiaries.
whether recorded in writing or otherwise, that the
5) Proviso to Rule 3(1) of the Companies (Accounts) Rules,
Intermediary shall, whether, directly or indirectly
2014 for maintaining books of account using accounting
lend or invest in other persons or entities identified
software which has a feature of recording audit trail (edit
in any manner whatsoever by or on behalf of the
log) facility is applicable with effect from April 1, 2023 to
Company (“Ultimate Beneficiaries”) or provide any
the Group and it’s Joint Ventures, which are companies
guarantee, security or the like on behalf of the
incorporated in India, and accordingly, reporting under Rule
Ultimate Beneficiaries;
11(g) of Companies (Audit and Auditors) Rules, 2014 is not
(b) In case of the Holding Company and its eight applicable for the financial year ended March 31, 2023.
subsidiaries viz. BCCL, ECL, MCL, SECL,
6) In our opinion and according to the information and
WCL, CCL, CMPDIL and NCL, the respective
explanations given to us, the qualifications or adverse
managements’ have represented, that, to the
remarks by the respective auditors of the subsidiaries
best of their knowledge and belief, other than as
on the matters specified in paragraphs 3 and 4 of the
disclosed in the notes to the accounts, no funds
Companies (Auditors’ Report) Order, 2020, issued by the
have been received by the Company from any
Central Government of India in terms of sub-section (11)
person(s) or entity(ies), including foreign entities
of section 143 of the Companies Act, 2013 to the extent
(“Funding Parties”), with the understanding,
applicable (“the Order”), are provided in the format below
whether recorded in writing or otherwise, that the
as per requirement of clause 3(xxi) of the Order.
Holding Company/ Clause number of the

Sr.
Name CIN Subsidiary/ Step CARO report which is
No.
down subsidiary qualified or adverse
1 Coal India Limited L23109WB1973GOI028844 Holding Company 3(i)(c)
2 Eastern Coalfields Limited (ECL) U10101WB1975GOI030295 Subsidiary 3(i)(c), 3(vii)(a), 3(xx)(b)
3 Bharat Coking Coal Ltd. (BCCL) U10101JH1972GOI000918 Subsidiary 3(i)(c), 3(xi)(a), 3(xx)(b)
4 Central Coalfields Ltd. (CCL) U10200JH1956GOI000581 Subsidiary 3(i)(c), 3(ii)(a), 3(xx)(b)
5 Northern Coalfields Ltd. (NCL) U10102MP1985GOI003160 Subsidiary 3(i)(a), 3(i)(b), 3(i)(c), 3(ii)(a)
6 Western Coalfields Ltd. (WCL) U10100MH1975GOI018626 Subsidiary 3(i)(c), 3(ii)(a)
002-115 116-332 333-513
Holding Company/ Clause number of the

Sr.
Name CIN Subsidiary/ Step CARO report which is
No.
down subsidiary qualified or adverse
7 South Eastern Coalfields Ltd. U10102CT1985GOI003161 Subsidiary 3(i)(c), 3(iii)(c), 3(iii)(d), 3(iii)
(SECL) (f)
8 Chhattisgarh East Railway Limited U45203CT2013GOI000729 Step down subsidiary 3(iii)(a), 3(iii)(c), 3(x)(b)
9 Chhattisgarh East-West Railway U45203CT2013GOI000768 Step down subsidiary 3(i)(c), 3(xi)(c)
Limited
10 Mahanadi Coalfields Ltd. (MCL) U10102OR1992GOI003038 Subsidiary 3(i)(a)(A), 3(i)(b), 3(i)(c), 3(ii)
(a), 3(vii)(a), 3(xi)(a)
11 Central Mine Planning & Design U14292JH1975GOI001223 Subsidiary 3(i)(c)
Institute Ltd. (CMPDIL)
For Lodha & Co

Sd/-
R. P. Singh
(Partner)
Date: 7th May, 2023 UDIN: 23052438BGXSBU2597
“ANNEXURE-A” TO THE INDEPENDENT AUDITORS’ REPORT
(Referred to in Paragraph 1 of “Report on Other Legal and Regulatory requirements” section of our Audit Report)
Part I
S.
Direction Auditors’ Reply on the action taken on the directions
No.
(i) Whether the Company has According to the information and explanations given to us by the Holding Company
system in place to process all the and as reported by the auditors of the subsidiaries, the Group has implemented a new
accounting transactions through ERP Software (SAP) and has been migrated from the old accounting software Coalnet
IT System? If yes, the implications with effect from various dates as given below.
of processing of accounting • Holding Company - HO, Delhi office, Mumbai and Chennai RSO from April 01,
transactions outside IT system on 2021 and NEC from August 01, 2021
the integrity of the accounts along
• MCL – from April 01, 2021
with the financial implications, if
any may be stated. • SECL, ECL and BCCL – from August 01, 2021
• WCL, CCL, NCL and CMPDIL – from October 01, 2021
a) In case of Holding Company, Post implementation of SAP, accounting of
all the transactions is being processed through the SAP except hospital
inventory and valuation of closing stock of coal at North Eastern Coalfield
which are maintained manually. Further, various information including ageing
analysis which are required to be disclosed in the financials as per the Act,
are also prepared manually by the management.
As per information and explanations given to us, post completion of
stabilization phase on 31” March 2022, the system is under AMC phase.
No system audit and migration audit covering the implications of processing
of such transactions, consequential effect on the integrity of the accounts,
along with related financial implications, etc. have been carried out.
b) In case of NCL, as reported by the auditor of the said subsidiary, no accounting
transaction was processed outside IT System.
c) In case of BCCL and ECL, as reported by the auditor of the said subsidiary,
this application covers mostly all the functionalities to run the business
process smoothly and efficiently to fulfill the intense requirement of the
Company.
d) In case of WCL, as reported by the auditor of the said subsidiary, the company
is using SAP Software for accounting of transaction. However, they observed
that valuation of Coal and OBR has still not been done through SAP and has
been done using an Excel utility and later relevant accounting entries are
passed in the SAP. Also attendance in Bio metric Machines has not been
integrated with ERP System. No integrity issues observed during Audit.
e) In case of MCL, as reported by the auditor of the said subsidiary, The
Company has implemented SAP to maintain books of accounts. The Financial
transactions are recorded through SAP except processing of calculation of
performance income, compensation income and interest income on delayed
payment. However, the same has no impact on the integrity of the accounts.
In case of all step-down subsidiaries of MCL except MCRL, the accounting
transactions are processed through other IT system and for MCRL no IT
system is in place and it will not impact the integrity of the accounts.
002-115 116-332 333-513
S.
No.
f) In case of CCL as reported by the auditor of the said subsidiary, there is
a system in place to process all the accounting transaction through SAP
system. A few modules of SAP system are yet to be made fully functional.
g) In case of CMPDIL, as reported by the auditor of the said subsidiary, there
is a system in place to process all the material accounting transaction
and recording of all underlying business transactions is done in its SAP-
ERP Software. Accordingly, there are no implications on the integrity of
the accounts. The information/Data is flowing from various modules and
captured in the financials through automation under SAP for the processes
like Financial Accounting and Controlling (FICO), Sales and Distribution (S&D),
Material Management (MM), Human Capital Management (HCM), Production
Planning (PP), Project System (PS) and Plant Maintenance (PM).
As per information and explanations given to us, Post completion of stabilization
phase on 31” March 2022, the system is under AMC phase.
During the course of the audit, it was observed that, following activities were performed,
outside SAP:
SAP integration of Biometric attendance is available but due to integration issue with
NIC, presently the attendance has been maintained manually or through Biometric
system serving as source data which is finally captured in SAP.
In respect of the activities performed outside SAP, as above, there is no material
financial implications.
h) In case of SECL, as reported by the auditor of the said subsidiary, the subsidiary
has a system in place to process all the accounting transactions including sales,
inventory, payrolls, Fixed Assets Register through IT systems i.e. SAP System.
However accounting entries related to Provision for Coal Quality Variance, Valuation
of Closing Stock, and Provision for Over Burden Removal are passed manually in
accounting system on the basis of calculation done on spreadsheets. The step down
subsidiary companies - CERL and CEWRL use Tally.ERP9 as its accounting software
to record all accounting transactions.
There is no material implication on the financials for the activities performed outside
SAP.
(ii) Whether there is any restructuring As per the information and explanations given by the management of the Holding
of an existing loan or cases of Company, there is no loan taken from any lender by the Holding Company.
waiver/write off of debts/loans/ In case of Subsidiary companies, as reported by their auditors of the respective
interest etc. made by a lender subsidiaries, there is no restructuring of loan or cases of waiver/write off of debts/
to the company due to the loans/interest etc. made by a lender to the subsidiary companies during the year
company’s inability to repay the except for the following:
loan? If yes, the financial impact
In case of CERL (a step down subsidiary of SECL), the consortium led by Indian Bank
may be stated. Whether such
has declared 23rd July, 2022 as the commercial operation date taking Chhal Feeder
cases are properly accounted for?
line authorization date. The sanctions of other banks are in process. Moratorium
(In case, lender is a Government
period shall be 23rd July, 2022 to 23rd July, 2024 and the quarterly repayment period
company, then this direction
will commence from 23rd October, 2024 and will end on 23rd July, 2038.
is also applicable for statutory
auditor of Lender company)
S.
No.
(iii) Whether funds (grants/subsidy According to the information and explanations given to us by the Holding Company
etc.) received / receivable for and as reported by the auditors of the subsidiary companies, the following funds and
specific schemes from Central grants were received /receivable for specific schemes from Central/State agencies
/ State Government or agencies during the year:
were properly accounted for a) In case of Holding Company, According to the information and explanations given
/ utilized as per its terms and to us and on the basis of our examination of the records of the Company, no
conditions? List the cases of grants/funds were received/accounted for during the year.
deviation.
Further, grant for railway siding amounting to H 1.72 crore received by North
Eastern Coalfield from Central Government in the FY 2019-20 was properly
accounted for as per the terms and conditions.
b) In case of CCL, there is no such case of deviation.
c) In case of ECL and WCL , the said subsidiaries have received H 1.53 crore and
H 0.40 crore respectively, during the year for specific schemes from Central/
State Government or agencies towards sand stowing and protective works. The
amount was properly utilized as per its terms and conditions.
d) In case of, SECL and NCL no funds for specific scheme from central/state
agencies was received/receivable during the year.
e) In case of BCCL, the said subsidiary has not received funds for specific schemes
from Central/State Government or agencies during the year except as under
JRDA from Coal India Ltd. for H 1.75 crore. The amount were properly utilized as
per its terms and conditions.
f) In case of MCL, no CCDA grant was received as capital grant from Ministry of
Coal, Govt. of India towards assistance for roads and rails infrastructure works
during the year. The outstanding balance is H139.05 crore as on 31.03.2023.
Out of the above H125.15 crore has been shown under Deferred income and the
current portion of H13.90 crore has been shown under ‘Other Current Liabilities’.
g) In case of CMPDIL, the amounts received against detailed and promotional drilling,
R&D and S&T and NMET were properly utilized as per its terms and conditions.
Part II - Additional Directions: -
S.
Additional Direction Auditors’ Reply on the action taken on the directions
No.
(i) Whether coal stock measurement According to the information and explanations given to us and on the basis of our
was done based on Yellow examination of the records of the Holding Company and as reported by the auditors
Book? Whether physical stock of the subsidiaries (except CMPDIL since not applicable), coal stock measurement in
measurement reports are respective areas are done keeping in view the Yellow Book.
accompanied by contour map According to the information and explanations given to us by the Holding Company and
in all cases? Whether approval as reported by the auditors of the subsidiaries (except CMPDIL since not applicable),
of the competent authority was coal stock measurement were done in respective areas as accompanied by contour
obtained for new heap, if any, map (in case of MCL, contour map/3D TLS) except in respect of following subsidiary:
created during the year.
In case of BCCL, as reported by the auditor of the said subsidiary, as per explanation
and information given, the coal stock measurements of the heaps are being done as
per the Yellow Book. Coal Stock dumps are being created by the collieries at prefix
locations for which contour plans are prepared and approved by competent authority
in advance, i.e. prior to starting dumping of coal. However, in some of the cases, small
stocks whose geometrical shape are cumbersome and not fit for measurement using
contour plan / level section, are being measured by conventional method, even if such
stocks are having contour plans. The stock measurement reports are accompanied
by contour plans.
002-115 116-332 333-513
S.
No.
For the washeries the stocks of slurry, rejects and middling were building up since
inception of the washery, i.e. prior to take over by BCCL. The heaps, particularly of
reject, slurry, middling etc. are huge in shape and size and theseare not having contour
plans, as such being measured by conventional method.
No new heaps were created in any of the mines of North Eastern Coalfields during the
financial year in case of Holding Company. As reported by the respective auditors of
the subsidiaries, Approval of the competent authority were obtained for new heaps
created during the year.
(ii) Whether the company has According to the information and explanations given to us by the Holding Company and
conducted physical verification as reported by the auditors of the subsidiaries (except CMPDIL since not applicable),
exercise of assets and properties there is no case of merger/split/re-structure of an area during the year and therefore
at the time of merger/ split/ no physical verification of assets and properties is required except in case of MCL,
restructure of an area. If so, where Bhubaneswari area has been merged with Jagannath area. Audit for physical
whether the concerned subsidiary verification of assets transferred from Bhubaneswari area on the date of merger has
followed the requisite procedure. been done by the management.
(iii) Whether separate Escrow a) According to the information and explanations given to us by the Holding Company
Accounts for each mine has and as reported by the auditors’ of the subsidiaries, separate Escrow Accounts for
been maintained in CIL and its each mine has been maintained in CIL and its subsidiaries except in case of CCL,
subsidiaries. Also examine the where escrow account in respect of Pindra OC Mines have not yet been opened due
utilization of the fund of the to non-availability of Approved PR&MCP.
account.
b) In case of Holding Company, no such fund as explained by the management has
been withdrawn during the year.
c) In case of MCL, the subsidiary had withdrawn H 11.56 crore towards reimbursement
for mine closure expenditure after obtaining approval from the Coal Controller office.
d) In case of SECL, the proposal for utilization of fund of the escrow accounts has
been initiated.
e) In case of WCL, Amount of H 12.04 crore is utilized during the year out of the funds
earmarked in the escrow accounts based on the CCO certification.
f) In case of BCCL and ECL, no amount has been withdrawn from Escrow account
during the year.
g) In case of NCL, as reported by the auditor of the said subsidiary, rather than
adjustment made through escrow accounts, certain expenses incurred in this respect
has been charged to the statement of profit and loss.
h) In case of CCL, escrow accounts for 66 mines have been maintained and during
the year CCL has received H 5.50 crore (Previous year – H 35.30 crore) for mine closure
activities after obtaining approval from the Coal Controller office.
S.
No.
(iv) Whether the impact of penalty for According to the information and explanations given to us and as reported by the
illegal mining as imposed by the auditors of the subsidiaries (except CMPDIL since not applicable), no penalty for
Hon’ble Supreme Court/ National illegal mining has imposed by the Honorable Supreme Court during the year on the
Green Tribunal/ State Pollution Holding Company, NCL and WCL. Penalty for illegal mining has been imposed by the
Control Board has been duly Honorable Supreme Court for the following subsidiaries.
considered and accounted for? a) In case of CCL, pursuant to the order of the Hon’ble Supreme Court of India,
District Mining Offices of Jharkhand had raised a demand of H 13,568.50 crore
(PY: H 13,568.50 crore) for mining in excess of the environmental clearances limit
in 42 mines. Against the said demand, CCL has filed a revision petition before the
Hon’ble Coal Tribunal, Ministry of Coal, Govt. of India, the adjudicating authority
under the MMDR Act. The Revisional Authority vide its interim order dated
January 16, 2018 has stayed the execution of the demand till further order. Taking
into consideration the order of the Revisional Authority, Ministry of Coal, Govt. of
India vide its order dated 21/12/2021 to Damodar Valley Corporation (DVC) in a
similar demand notice, the said demand has not been acknowledged as debt and
included under Contingent Liability.
b) In case of ECL, 11 demand notices were issued to Rajmahal, Mugma and SP Mines
area by respective Asst Mining Officer/ District Mining Officers in 2017 by Govt of
Jharkhand amounting to H 2,178.14 crore under Mines and Minerals (Development
and Regulation) Act, 1957 as a penalty for alleged or unlawful mined mineral. In this
regard concerned areas of ECL have filed 11 Revision Application challenging the
demand notices before the Revisional Authority, Ministry of Coal, Government of India.
Revisional Authority, Hon’ble Coal Tribunal, Ministry of Coal vide order dated
22.01.2018, had stayed the demand notices, till further order. Further, Revisional
Authority has also directed that no coercive action shall be taken against the
Applicant by the respondent pursuant to the impugned demand notices.
Revisional Authority, Hon’ble Coal Tribunal, Ministry of Coal vide order dated
29.06.2022 has set aside the order passed by the state of Jharkhand.
c) In case of MCL, Office of Deputy Director Mines issued notices to the areas to pay
compensation for production of coal beyond approved environment clearance
limit. The claim is of H 11,212.73 crore on MCL. MCL has filed revision applications
against such claims at Revisional Authority, Ministry of coal. The Revisional
Authority has set aside the claim for H 8,297.77 crore.
d) In case of SECL, amount of H 10,182.64 crore as mentioned in show cause notice
pertaining to year 2018-19 has been disclosed in the books of the subsidiary.
e) In case of BCCL, demand notices amounting to H 17,344.46 crore have been
issued in respect of 47 Projects/Mines/Collieries of the Company by State
Government in pursuance of the judgement dated August 02, 2017 of Hon’ble
Supreme Court of India vide W.P. (C) No. 114 of 2014 in Common Cause vs. Union
of India and Others. Based on the judgment received from Revisional Authority,
MoC and legal opinion, the above demand has been vacated. .
(v) Whether any independent No Independent Assessment/Certification in respect of migration process of data from
Assessment/ Certification in Coalnet portal to SAP has been carried out during the year in case of the Holding
respect of migration process of Company, BCCL, NCL, WCL, CCL, ECL, SECL and CMPDIL.
data from Coalnet portal to SAP In case of MCL, Independent assessment for migration of data from Coalnet to SAP
has been done. for finance module has been done. Further an internal auditor has been appointed for
migration audit of vendor master from Coalnet to SAP, which is under process and the
assessment of migration process of other module in SAP is yet to be done.
(vi) Whether exploration of blocks In case of CMPDIL, there is no MOU between CMPDIL and MOC/CIL/NMET. CMPDIL
was completed in compliance is the nodal agency for all information related to exploration of coal and lignite in the
of MOU and grant received for country. CMPDIL undertakes the activities of detailed and promotional drilling as per
detailed and promotional drilling the projects/blocks sanctioned/approved by MOC/CIL/NMET either by itself or through
utilized and accounted properly. MECL and private parties through MOU and tenders. On the basis of examination of
List the case of deviation. the samples on test check basis, it was observed that exploration of blocks were
(Applicable only to subsidiary completed in compliance of MOU and grant received for detailed and promotional
CMPDIL) drilling are being utilized and accounted for properly.
002-115 116-332 333-513
S.
No.
(vii) Whether fund received for R&D In case of CMPDIL, R&D and S&T projects are approved/sanctioned by the Technical
& S&T were properly accounted committee of MOC/CIL with certain terms and condition based on the proposal
for / utilized as per terms and submitted by the implementing agency/institute. CMPDI makes an estimate of fund
conditions. List the cases of requirement for all the ongoing or new R&D/S&T projects and make a consolidated
deviation. (Applicable only to requisition from MOC/CIL. Once the fund is received, CMPDI disburse the fund to
subsidiary CMPDIL) implementing agency/institute in various installments based on the progress of the
projects. Once the project is complete and Project completion report is approved
by the technical committee, implementing agency/institute submit the utilization
certificate to CMPDI and refund the unspent amount of the fund received on such
projects to CMPDI along with the interest earned on those funds.
It was observed that the fund received for R&D and S&T were properly accounted for/
utilized as per terms and condition.
For Lodha & Co.

Sd/-
R. P. Singh
(Partner)
Date: 7th May, 2023 UDIN: 23052438BGXSBU2597
“ANNEXURE-B” TO THE INDEPENDENT AUDITORS’ REPORT
Report on the Internal Financial Controls under Our audit involves performing procedures to obtain audit
Clause (i) of Sub-section 3 of Section 143 of the evidence about the adequacy of the internal financial controls
Companies Act, 2013 (“the Act”) system with reference to the financial statements and their
operating effectiveness. Our audit of internal financial controls
In conjunction with our audit of the Consolidated Financial with reference to the financial statements included obtaining an
Statements of the Company as of and for the year ended understanding of internal financial controls with reference to the
March 31, 2023, we have audited the internal financial controls financial statements, assessing the risk that a material weakness
with reference to the financial statements of Coal India exists, and testing and evaluating the design and operating
Limited (hereinafter referred as “the Holding Company”), and effectiveness of internal control based on the assessed risk.
it’s subsidiaries(the Holding Company and its subsidiaries The procedures selected depend on the auditors’ judgment,
together referred to as “the Group”), and Joint Ventures and including the assessment of the risks of material misstatement
we have considered such similar reports of the auditors of its of the Consolidated Financial Statements, whether due to fraud
subsidiaries, which are companies incorporated in India, as of or error.
that date.
We believe that the audit evidence we have obtained and the
audit evidence obtained by the other auditors in terms of their
Management’s Responsibility for Internal
reports referred to in the “Other Matters” paragraph below,
Financial Controls
is sufficient and appropriate to provide a basis for our audit
The respective Board of Directors of the Holding Company, opinion on the Group and it’s Joint Ventures’ internal financial
its subsidiaries and Joint Ventures incorporated in India are controls system with reference to the financial statements with
responsible for establishing and maintaining internal financial reference to the financial statements.
controls based on the internal financial controls with reference
to Consolidated Financial Statements criteria established by the Meaning of Internal Financial Controls with
respective companies considering the essential components of reference to Consolidated Financial Statements
internal control stated in the Guidance Note on Audit of Internal
Financial Controls over Financial reporting (the “Guidance A Company’s internal financial control with reference to
Note”) issued by the Institute of Chartered Accountants of the financial statements is a process designed to provide
India. These responsibilities include the design, implementation reasonable assurance regarding the reliability of financial
and maintenance of adequate internal financial controls that reporting and the preparation of financial statements for
were operating effectively for ensuring the orderly and efficient external purposes in accordance with generally accepted
conduct of its business, including adherence to Company’s accounting principles. A Company’s internal financial control
policies, the safeguarding of its assets, the prevention and with reference to the financial statements includes those
detection of frauds and errors, the accuracy and completeness policies and procedures that (1) pertain to the maintenance of
of the accounting records, and the timely preparation of reliable records that, in reasonable detail, accurately and fairly reflect
financial information, as required under the Act. the transactions and dispositions of the assets of the Company;
(2) provide reasonable assurance that transactions are recorded
as necessary to permit preparation of financial statements in
Auditors’ Responsibility
accordance with generally accepted accounting principles, and
Our responsibility is to express an opinion on the internal that receipts and expenditures of the Company are being made
financial controls with reference to financial statements of only in accordance with authorizations of management and
the Group and its Joint Ventures incorporated in India based directors of the Company; and (3) provide reasonable assurance
on our audit. We conducted our audit in accordance with the regarding prevention or timely detection of unauthorized
Guidance Note on Audit of Internal Financial Controls with acquisition, use, or disposition of the Company’s assets that
reference to the financial statements (the “Guidance Note”) and could have a material effect on the financial statements.
the Standards on Auditing, issued by ICAI and deemed to be
prescribed under section 143(10) of the Companies Act, 2013, Inherent Limitations of Internal Financial
to the extent applicable to an audit of internal financial controls, Controls with reference to Consolidated
both issued by the Institute of Chartered Accountants of India. Financial Statements
Those Standards and the Guidance Note require that we comply
with ethical requirements and plan and perform the audit to Because of the inherent limitations of internal financial
obtain reasonable assurance about whether adequate internal controls with reference to the financial statements, including
financial controls with reference to the financial statements the possibility of collusion or improper management override
was established and maintained and if such controls operated of controls, material misstatements due to error or fraud may
effectively in all material respects. occur and not be detected. Also, projections of any evaluation
002-115 116-332 333-513
of the internal financial controls with reference to the financial a) Strengthening of the monitoring of controls in respect of
statements to future periods are subject to the risk that misc. expenses,
the internal financial control with reference to the financial
statements may become inadequate because of changes in b) Confirmation/ reconciliation/adjustment of other financial
conditions, or that the degree of compliance with the policies or assets, other current and non-current assets, trade
procedures may deteriorate. payables and receivables, other financial liabilities and
other current and non-current liabilities.
Opinion c) Control over capturing and recording of attendance of

employees.
According to the information and explanations given to us, and
based on our audit, the Group and it’s Joint Ventures, which are Further, in case of SECL, further improvement are required as
companies incorporated in India, in our opinion, have generally follows:
maintained, in all material respects, an adequate internal
financial controls with reference to the financial statements and a) The way of adopting the changes in the financial reporting
such internal financial controls with reference to the financial framework such as changes in accounting standards (to
statements were generally operating effectively as of March Ind AS);
31, 2023 based on the internal control with reference to the
b) Documentation in respect of its risk assessment process;
financial statements criteria established by the Group and it’s
and
Joint Ventures considering the essential components of internal
controls stated in the “Guidance Note on Audit of Internal c) Risk analysis of different functional areas and incorporating
Financial Controls over Financial Reporting” issued by the the detailed risk control matrix and process flows including
Institute of Chartered Accountants of India. identifying the significant account balances of expenses,
income, assets and liabilities including the fixed assets
Further improvements are required in respect of the following:
accounting, incorporating the process flow by which the
a) The documentation of Internal Financial Controls of the aforesaid transactions are initiated, authorized, processed,
Company in respect of its risk assessment process, risk recorded, and reported at departmental level.
analysis of different functional areas and incorporating
Our opinion is not qualified in respect of the above matters.
the process flows at departmental levels including risk
mitigations; and
Other Matters
b) Note 38(8)(j) regarding certain debit/credit balances
including trade receivables, other current and non-current Our aforesaid report under Section 143(3)(i) of the Act on the
assets, trade payables, other financial liabilities and other adequacy and operating effectiveness of the internal financial
current and non-current liabilities in the company are controls with reference to the financial statements, in so far as
pending independent confirmation and consequential it relates to eight subsidiaries which are companies incorporated
reconciliation thereof. in India, is based on the corresponding reports of the auditors
of such companies incorporated in India. Financial Statements of
In case of CCL, further improvements are required in respect of three subsidiaries and five Joint Ventures are unaudited and no
the following: report in this respect has been provided to us for our consideration.
a) Processing of salary of Piece Rate Workers through SAP

(ERP);
b) Mapping of MSME Vendor in SAP for compliance

requirement of MSME Act 2006; and
c) Imposing of restriction in Accessing of SAP (ERP) through

unsecured network/ connection. For Lodha & Co
In case of CMPDIL, further improvement are required in respect
of the following :
The documentation of Internal Financial Controls of the Sd/-

Company in respect of its risk assessment process, risk analysis R. P. Singh
of different functional areas and incorporating the process flows (Partner)
at departmental levels including risk mitigation in respect of Place: Kolkata Membership No. 052438
insurance coverage, Date: 7th May, 2023 UDIN: 23052438BGXSBU2597
ANNEXURE 5
Subsidiary wise coal offtake

Company-wise target vis-à-vis actual off-take for 2022-23 and 2021-22 are shown below:
(Fig. in MT)
2022-23 2021-22 Growth over last year
Company
Target Achieved % Achieved Achieved Abs. %
ECL 50.00 35.51 71.01 36.10 -0.59 -1.63
BCCL 32.00 35.53 111.03 32.25 3.28 10.17
CCL 76.00 75.02 98.71 71.82 3.21 4.46
NCL 122.00 133.51 109.43 125.66 7.85 6.25
WCL 62.00 62.15 100.24 64.17 -2.02 -3.15
SECL 182.00 160.03 87.93 155.52 4.51 2.90
MCL 176.00 192.75 109.52 176.37 16.38 9.29
NEC 0.00 0.18 - 0.00 0.18 -
CIL 700.00 694.68 99.24 661.89 32.79 4.95
ANNEXURE 6
Sector-wise dispatch of coal & coal products

(Fig. in MT)
Year 2022-23 2021-22 Growth over Last Year
Sector Target Despatch % Satn. Actual Abs. %
Power (Util)# 565.00 586.58 103.82 540.57 46.00 8.51
Steel * 4.49 3.28 73.19 2.39 0.89 37.24
Cement 5.03 3.49 69.41 3.35 0.15 4.36
Fertilizer 1.41 0.66 46.61 1.11 -0.45 -40.84
Others 124.07 101.12 81.50 115.15 -14.03 -12.18
Despatch** 700.00 695.13 99.30 662.57 32.56 4.91
Power house despatches include despatches under special forward e-auction to Power.
#
*Despatch of washed coking coal & raw coking coal to steel plants
ANNEXURE 7
Subsidiary wise details of Stock of Coal

Net Value of stock as Net Value of stock as Stock in terms of no. of months
on 31st March, 2023 on 31st March, 2022 Net Sales
Company
As on 31st As on 31st
(J in crore) (J in crore)
March, 2023 March, 2022
ECL 313.76 339.63 0.25 0.40
BCCL 934.46 898.10 0.91 1.14
CCL 965.24 881.21 0.76 0.86
NCL 432.45 536.12 0.24 0.37
WCL 1525.31 1158.23 1.30 1.08
SECL 1157.03 780.87 0.66 0.50
MCL 757.55 806.98 0.33 0.51
CIL (Consolidated) 6105.11 5412.88 0.57 0.65
002-115 116-332 333-513
ANNEXURE 8
Subsidiary wise details of Trade Receivables

(H in crore)
Trade Receivables Trade Receivables
Company As on 31st March, 2023 As on 31st March,2022
Gross Net of allowance Gross Net of allowance
ECL 1930.34 1564.50 2867.59 2504.20
BCCL 1613.55 1251.15 1415.58 1037.01
CCL 3381.56 3001.17 2437.91 2149.65
NCL 2567.58 2471.34 1406.18 1309.70
WCL 3307.35 3089.80 3018.86 2947.89
SECL 1287.77 42.03 1568.76 375.97
MCL 1679.72 1636.92 1063.80 1040.90
CIL Standalone 14.74 3.57 13.53 2.36
Total 15782.61 13060.48 13792.21 11367.68
ANNEXURE 9
Subsidiary wise Statutory Levies paid during 2022-23

(H in crore)
States
Company Particulars Madhya West Uttar 2022-23
Chattisgarh Jharkhand Maharashtra Orissa Assam Delhi
Pradesh Bengal Pradesh
ECL Royalty - - 16.30 294.92 - - - - 311.22
Addnl Royalty under - - - - - - - - -
MMDR Act
-DMF - - 4.89 94.71 - - - - 99.60
-NMET - - 0.32 6.04 - - - - 6.36
Goods and Service - - - - - - - - -
Tax:
-CGST - - 28.13 36.04 - - - - 64.17
-SGST - - 28.13 36.04 - - - - 64.17
-IGST - - 180.41 0.35 - - - - 180.76
GST Compensation - - 1,082.01 325.06 - - - - 1,407.07
Cess
Cess on coal - - 1,715.28 8.25 - - - - 1,723.53
State Sales Tax / VAT - - - 0.10 - - - - 0.10
Central Sales Tax - - - - - - - - -
Others - - - 5.41 - - - - 5.41
Total 3,055.47 806.92 3,862.39
BCCL Royalty - - - 1,413.76 - - - - 1,413.76
Addnl Royalty under - - - - - - - -
MMDR Act
-DMF - - - 400.83 - - - - 400.83
-NMET - - - 27.74 - - - - 27.74
Goods and Service - - - - - - - -
Tax:
-CGST - - 0.05 227.20 - - - - 227.25
-SGST - - 0.05 227.20 - - - - 227.25
-IGST - - 0.01 11.70 - - - - 11.71
GST Compensation - - 5.39 1,301.39 - - - - 1,306.78
Cess
Cess on coal - - 33.06 - - - - - 33.06
State Sales Tax / VAT - - - - - - - - -
Others - - - 90.42 - - - - 90.42
Total 38.56 3,700.24 3,738.80
(H in crore)
States
CCL Royalty - - - 2,102.58 - - - - 2,102.58
MMDR Act
-DMF - - - 625.03 - - - - 625.03
-NMET - - - 45.31 - - - - 45.31
Tax:
-CGST - - - 316.13 - - - - 316.13
-SGST - - - 316.13 - - - - 316.13
-IGST - - - 0.02 - - - - 0.02
GST Compensation - - - 3,011.06 - - - - 3,011.06
Cess
Cess on coal - - - - - - - - -
Others - - - 485.94 - - - - 485.94
Total 6,902.20 6,902.20
NCL Royalty 2,143.79 - - - - 583.87 - - 2,727.66
MMDR Act
-DMF 646.14 - - - - 177.42 - - 823.56
-NMET 43.29 - - - - 11.62 - - 54.91
Tax:
-CGST 264.74 - - - - 73.93 - - 338.67
-SGST 264.74 - - - - 73.93 - - 338.67
-IGST 0.40 - - - - 3.92 - - 4.32
GST Compensation 4,434.50 - - - - 911.49 - - 5,345.99
Cess
Cess on coal - - - - - 17.51 - - 17.51
Others 934.44 - - - - 71.15 - - 1,005.59
Total 8,732.04 - 1,924.84 10,656.88
WCL Royalty 106.92 - - - 1,847.39 - - - 1,954.31
MMDR Act
-DMF 32.08 - - - 554.22 - - - 586.30
-NMET 2.14 - - - 36.95 - - - 39.09
Tax:
-CGST 17.64 - - - 227.21 - - - 244.85
-SGST 17.64 - - - 227.21 - - - 244.85
-IGST 0.22 - - - 0.57 - - - 0.79
GST Compensation 123.77 - - - 2,342.42 - - - 2,466.19
Cess
Cess on coal - - - - - - - - -
Others 56.03 - - - - - - - 56.03
Total 356.44 5,235.97 5,592.41
SECL Royalty 337.15 2,921.37 - - - - - - 3,258.52
Addnl Royalty under - - - - - -
MMDR Act
-DMF 101.75 804.76 - - - - - - 906.51
-NMET 6.78 53.61 - - - - - - 60.39
Tax:
-CGST 48.04 330.48 0.51 - - - - - 379.03
-SGST 48.04 330.48 0.51 - - - - - 379.03
-IGST 0.17 0.77 0.08 - - - - - 1.02
002-115 116-332 333-513
(H in crore)
States
GST Compensation 398.36 5,981.21 0.05 - - - - - 6,379.62
Cess
Cess on coal - - - - - - - - -
Others 118.72 474.19 - - - - - - 592.91
Total 1,059.01 10,896.87 1.15 11,957.03
MCL Royalty - - - - - - 3,607.86 - 3,607.86
MMDR Act
-DMF - - - - - - 1,086.25 - 1,086.25
-NMET - - - - - - 71.68 - 71.68
Goods and Service - - - - - - - - -
Tax:
-CGST - - - - - - 427.22 - 427.22
-SGST - - - - - - 427.22 - 427.22
-IGST - - - - - - 0.83 - 0.83
GST Compensation - - - - - - 7,675.51 - 7,675.51
Cess
Cess on coal - - - - - - - - -
Others - - - - - - - - -
Total 13,296.58 13,296.58
CMPDIL Royalty - - - - - - - -
Addnl Royalty under - - - - - - -
MMDR Act
-DMF - - - - - - - -
-NMET - - - - - - - -
Goods and Service - - - - - - -
Tax:
-CGST 16.23 18.11 9.80 19.84 11.73 - 9.31 - 85.02
-SGST 16.23 18.89 9.90 21.02 11.73 - 9.66 - 87.43
-IGST 6.63 3.54 2.67 21.02 4.26 - 1.11 - 39.23
GST Compensation - - - - - - - -
Cess
Cess on coal - - - - - - - -
State Sales Tax / VAT - - - - - - - -
Central Sales Tax - - - - - - - -
Others - - - - - - - -
Total 39.09 40.53 22.37 61.88 27.72 - 20.08 - 211.68
CIL Royalty - - - - - - - 25.39 25.39
Addnl Royalty under - - - - - - -
MMDR Act
-DMF - - - - - - - 7.38 7.38
-NMET - - - - - - - 0.51 0.51
Goods and Service - - - - - - -
Tax:
-CGST - - 5.14 - - - - 4.50 0.36 10.00
-SGST - - 5.14 - - - - 4.50 0.36 10.00
-IGST - - 239.48 - - - - 4.80 0.33 244.61
GST Compensation - - - - - - - 7.25 7.25
Cess
Cess on coal - - - - - - - - -
Others - - - - - - - 1.00 1.00
Total - - 249.76 - - - - 55.33 306.14
Overall Royalty 2,587.86 2,921.37 16.30 3,811.26 1,847.39 583.87 3,607.86 25.39 - 15,401.30
Addnl Royalty under - - - - - - - - - -
MMDR Act
-DMF 779.97 804.76 4.89 1,120.57 554.22 177.42 1,086.25 7.38 - 4,535.46
-NMET 52.21 53.61 0.32 79.09 36.95 11.62 71.68 0.51 - 305.99
Goods and Service - - - - - - - - - -
Tax:
(H in crore)
States
-CGST 346.65 348.59 43.63 599.21 238.94 73.93 436.53 4.50 0.36 2,092.35
-SGST 346.65 349.37 43.73 600.39 238.94 73.93 436.88 4.50 0.36 2,094.75
-IGST 7.42 4.31 422.65 33.09 4.83 3.92 1.94 4.80 0.33 483.29
GST Compensation 4,956.63 5,981.21 1,087.45 4,637.51 2,342.42 911.49 7,675.51 7.25 - 27,599.47
Cess
Cess on coal - - 1,748.34 8.25 - 17.51 - - - 1,774.10
State Sales Tax / VAT - - - 0.10 - - - - - 0.10
Central Sales Tax - - - - - - - - - -
Others 1,109.19 474.19 - 581.77 - 71.15 - 1.00 - 2,237.30
Total 10,186.58 10,937.40 3,367.31 11,471.24 5,263.69 1,924.84 13,316.66 55.33 1.05 56,524.11
ANNEXURE 10
Subsidiary-wise Coking & Non-Coking Coal Production

(In Mill Te)
Coking Non-Coking Total
Company
2022-23 2021-22 2022-23 2021-22 2022-23 2021-22
ECL 0.007 0.014 35.011 32.415 35.018 32.429
BCCL 33.716 29.041 2.463 1.470 36.179 30.511
CCL 20.554 17.164 55.534 51.682 76.087 68.846
NCL 0.000 0.000 131.169 122.431 131.169 122.431
WCL 0.094 0.158 64.189 57.551 64.283 57.708
SECL 0.247 0.225 166.759 142.289 167.006 142.514
MCL 0.000 0.000 193.262 168.167 193.262 168.167
NEC 0.000 0.000 0.200 0.028 0.200 0.028
CIL 54.618 46.602 648.586 576.032 703.204 622.634
*It includes production from Gare Palma IV/2&3 OC for which Coal India Ltd. was appointed as designated custodian (through SECL)
002-115 116-332 333-513
Production from Underground and Opencast Mines

(In Mill Te)
Underground Opencast Total
Company
2022-23 2021-22 2022-23 2021-22 2022-23 2021-22
ECL 8.968 8.996 26.050 23.433 35.018 32.429
BCCL 0.686 0.806 35.493 29.705 36.179 30.511
CCL 0.863 0.755 75.225 68.091 76.087 68.846
NCL 0.000 0.000 131.169 122.431 131.169 122.431
WCL 2.887 3.041 61.396 54.667 64.283 57.708
SECL 11.642 11.527 155.364 130.987 167.006 142.514
MCL 0.441 0.500 192.820 167.667 193.262 168.167
NEC 0.000 0.000 0.200 0.028 0.200 0.028
CIL 25.487 25.624 677.717 597.010 703.204 622.634
ANNEXURE 10A
Subsidiary-wise Washed Coal (Coking) Production

(in lakh Tonne)
Washed Coking Coal
Company
2022-23 2021-22
BCCL 14.34 12.09
CCL 7.22 4.00
CIL 21.55 16.09
ANNEXURE 10B
Subsidiary-wise Overburden Removal

(In Mill CUM)
Company 2022-23 2021-22
ECL 133.128 118.989
BCCL 114.474 105.374
CCL 106.581 100.066
NCL 467.533 362.650
WCL 325.613 273.236
SECL 263.389 195.216
MCL 245.964 206.173
NEC 1.946 0.355
CIL 1658.627 1362.060
ANNEXURE 11
Population of Equipment
Indicated as % of CIL Norm
No. of Equipment
Equipment Availability Utilization
As on 1.4.2023 As on 1.4.2022 2022-23 2021-22 2022-23 2021-22
Dragline 27 28 97 89 103 92
Shovel 625 600 97 96 69 68
Dumper 2514 2589 116 115 65 69
Dozer 937 965 107 103 48 48
Drill 586 604 109 108 49 50
Subsidiary Wise Major HEMM Population As On 01.04.2023

(Figure in no.)
EQUIPMENT ECL BCCL CCL NCL WCL SECL MCL CIL
DRAGLINE 1 1 - 23 - 2 - 27
SHOVEL 53 90 99 107 117 83 76 625
DUMPER 190 318 337 502 323 517 327 2514
DOZER 78 95 178 162 142 142 140 937
DRILL 49 80 108 130 69 85 65 586
TOTAL 371 584 722 924 651 829 608 4689
ANNEXURE 12
Subsidiary wise details of Capital Expenditure

(J in crore)
FY 2022-23 FY 2021-22
Company
BE Actual BE Actual
ECL 1220.00 1132.84 1180.00 1227.99
BCCL 900.00 999.18 850.00 864.50
CCL 1925.00 2443.27 1850.00 1863.30
NCL 1900.00 2222.94 1410.00 1891.16
WCL 900.00 1067.88 875.00 994.64
SECL 4650.00 4856.58 3500.00 2949.11
MCL 3800.00 3932.78 3700.00 3882.20
CMPDIL 40.00 42.97 33.00 42.60
CIL Standalone* 1165.00 1920.83 1287.00 1685.46
Total 16500.00 18619.27 14685.00 15400.96
*It includes H 1796.90 crore in FY 2022-23 for CIL's Share in CAPEX of JVs.
002-115 116-332 333-513
Annexure 13
Status of Project Implementation

a) Projects Completed During the Year 2022-23
S Sanctioned Sanctioned Capital Completion Capital

Sub Name of the Projects Type
N Capacity (MTY) (J Crs) (J Crs)
1 ECL Khottadih Expn OCP OC 1.60 302.57 302.57
2 ECL Kumardih-B CM UG 1.02 117.09 117.09
3 SECL Saraipali OCP RCE OC 1.40 143.63 164.73
Total 4.02 563.29 584.39
b) Projects Started Production During the Year 2022-23
S Sanctioned Sanctioned
Sub Name of the Projects Type Production (in MT)
N Capacity (MTY) Capital (J Crs)
1 ECL Nakrakonda Kumardih B OC OC 3.00 502.67 0.444
2 ECL Hura C OCP OC 3.00 859.41 0.239
3 CCL Sayal D OCP OC 1.00 48.35 0.168
4 SECL Ketki UG Expn. UG 0.87 134.34 0.00009
5 SECL Rampur Batura OC OC 4.00 1248.93 0.000005
6 WCL Dhuptala OC (Sasti UG to OC) OC 2.50 720.87 0.7005
a) Mining Projects sanctioned by CIL Board during FY-2022-23
Sub Project Type Date of Approval
1 ECL Hura C OCP OC 10.08.2022 3.00 859.41
2 ECL UCE of Tilaboni UG UG 31.01.2023 1.86 749.07
3 ECL UCE of Parasea Belbaid UG 31.01.2023 2.07 389.1
UG
4 BCCL NTST Kujama OCP OC 04.01.2023 8.50 4011.85
5 NEC RCE of Tirap OCP OC 28.11.2022 0.60 310.86
6 NEC RCE of Tikak Extn. OCP OC 05.07.2022 0.20 177.71
7 MCL RPR of Hingula Expn. OC 07.11.2022 15.00 2264.86
OCP Ph-III
8 MCL PR of Bhubaneswari OC 04.01.2023 50.00 4563.51
MDO
Sub Total (a) 81.23 13326.37
b) Mining Projects sanctioned by Subsidiary Company Boards during FY-2022-23
1 CCL Swang Pipradih OCP OC 14.05.2022 2.00 363.32
2 SECL PR of Katkona UG UG 29.01.2023 1.74 329.22
3 SECL Pelma OCP OC 14.10.2022 15.00 1725.04
4 SECL Madannagar OCP OC 14.10.2022 12.00 1802.29
5 WCL PR of Singhori Deep OC 05.05.2022 2.00 421.84
OCP
6 WCL PR of Makadhokra - I OC 14.06.2022 4.90 497.06
Expn. OC
7 WCL RPR of Sharda UG UG 29.07.2022 0.51 200.16
8 WCL Urdhan OC Expn. OC 29.07.2022 1.00 228.42
9 WCL RPR of Bhanegaon OCP OC 19.09.2022 1.15 494.60
10 WCL Amalgamated Dhankasa UG 19.09.2022 1.84 497.01
Jamunia UG
11 WCL RPR Vishnupuri UG to OC 04.11.2022 1.50 227.65
OC
12 WCL Ballarpur NW Recast OC 16.12.2022 1.50 360.81
13 WCL Kolgaon Expn. Deep OC OC 28.01.2023 0.80 206.19
14 WCL Gadegaon OC OC 28.01.2023 3.00 488.58
15 WCL RPR Pauni II Expansion OC 25.03.2023 4.875 464.45
OC
16 WCL RPR Gauri Pauni Exp. OC 25.03.2023 5.25 497.22
OC
Sub Total (b) – 16 nos 59.07 8803.85
Total (a+b) – 24 Nos 140.30 22130.22
Non-Mining Projects sanctioned by CIL and Subsidiary Company Boards 2022-23
S Sanctioned Capital
Sub Project Date of Approval
N (J Crs)
A. Non-Mining Projects sanctioned by CIL Board -2022-23
NIL
B. Non-Mining projects sanctioned by Subsidiary Company Board -2022-23
1 BCCL 2.5 MTPA Moonidih Coking Coal Washery 30.07.2022 454.30
2 BCCL 25 MW Ground Mounted Solar Power Project at Bhojudih Washery, 24.09.2022 163.00
BCCL
3 BCCL 22 MW Ground Mounted Solar Power Project at Dugdha Washery, 05.01.2023 150.15
BCCL
4 SECL Installation of 40 MW in 1st Phase Ground Mounted Grid Connected 18.07.2022 275.83
Solar Power Plant on SECL’s Own Land at Johilla and Hasdeo Area
of SECL.
Sub Total (B) 1043.28
Total (A+B) – Non Mining - 4 Nos. 1043.28
ANNEXURE 14
Safety Performance
Table: 1 - Comparative Accidents Statistics of CIL of 5 Yearly Average since 1975
Av. Fatal Accidents Av. Serious Accidents Av. Fatality Rate Av. Serious Injury Rate
Time frame Accident Fatalities Accident Injuries Per Per 3 Lac Per Per 3 Lac
in no. in no. in no. in no. Mill. Te Manshifts Mill. Te Manshifts
1975-79 157 196 1224 1278 2.18 0.44 14.24 2.89
1980-84 122 143 1018 1065 1.29 0.30 9.75 2.26
1985-89 133 150 550 571 0.98 0.30 3.70 1.15
1990-94 120 145 525 558 0.694 0.30 2.70 1.19
1995-99 98 124 481 513 0.50 0.29 2.06 1.14
2000-04 68 82 499 526 0.28 0.22 1.80 1.47
2005-09 60 80 328 339 0.22 0.25 0.92 1.04
2010-14 56 62 219 228 0.138 0.23 0.49 0.80
2015-19 33 43 107 112 0.08 0.18 0.19 0.47
2020 29 30 73 80 0.05 0.14 0.13 0.37
2021 27 29 57 61 0.05 0.13 0.10 0.28
2022 18 20 61 65 0.03 0.08 0.09 0.26
Note: Subject to reconciliation with DGMS & Accident Statistics are maintained calendar year-wise in conformity with DGMS practice
002-115 116-332 333-513
Table-2: Subsidiary-wise Accident Statistics of CIL for the year 2022
Fatal Serious Serious Fatality Rate Serious Injury Rate

Fatalities
Company Accidents Accidents Injuries Per Per 3 lac Per Per 3 lac
in no.
in no. in no. in no. Mill. Te manshifts Mill. Te manshifts
ECL 2 2 9 9 0.06 0.05 0.26 0.22
BCCL 4 5 2 3 0.14 0.20 0.08 0.12
CCL 2 2 3 3 0.03 0.08 0.04 0.12
NCL 1 1 8 8 0.01 0.04 0.06 0.31
WCL 1 2 10 12 0.03 0.03 0.19 0.20
SECL 8 8 25 26 0.05 0.24 0.17 0.78
MCL 0 0 4 4 0.00 0.00 0.02 0.13
NEC 0 0 0 0 0.00 0.00 0.00 0.00
CIL 18 20 61 65 0.03 0.08 0.09 0.26
Note: Accident Statistics are maintained calendar year wise in conformity with DGMS practice & figures subject to reconciliation with DGMS
Table-3: Cause-wise Fatalities in CIL for the year 2022

in no.
Cause ECL BCCL CCL NCL WCL SECL MCL TOTAL
Fall of person 0 0 0 1 0 1 0 2
Fall of object 0 1 0 0 0 1 0 2
Non-Transport M/c 0 0 0 0 0 2 0 2
Dumper 0 1 0 0 0 0 0 1
Tipper 0 0 1 0 0 1 0 2
Roof / side fall 2 0 0 0 2 1 0 5
Gas, Dust, Fire 0 3 1 0 0 2 0 6
Total 2 5 2 1 2 8 0 20
Table-4: Place-wise Fatalities in CIL for the year 2022

in no.
Company UG OC Surface Total
ECL 2 0 0 2
BCCL 0 5 0 5
CCL 0 1 1 2
NCL 0 0 1 1
WCL 2 0 0 2
SECL 2 4 2 8
MCL 0 0 0 0
CIL 6 10 4 20
Table-5: Cause-wise Serious Injuries in CIL for the year 2022

in no.
ECL BCCL CCL NCL WCL SECL MCL TOTAL
Fall of person 4 0 1 1 5 8 1 20
Fall of object 4 2 0 4 1 5 0 16
Non-transport m/c 0 0 0 1 1 3 1 6
Haulage 1 0 0 0 0 1 0 2
Conveyor 0 1 1 0 1 0 0 3
Misc. 0 0 0 0 4 2 0 6
Tipper 0 0 1 1 0 2 2 6
Roof / side fall 0 0 0 0 0 5 0 5
Explosive 0 0 0 1 0 0 0 1
Total 9 3 3 8 12 26 4 65
Table-6: Place-wise Serious Injuries in CIL for the year 2022

in no.
Company UG OC Surface Total
ECL 7 2 0 9
BCCL 0 2 1 3
CCL 0 2 1 3
NCL 0 6 2 8
WCL 3 6 3 12
SECL 13 8 5 26
MCL 0 3 1 4
CIL 23 29 13 65
Annexure 15
Subsidiary wise Manpower

(Fig. in numbers)
Manpower Manpower
Company Strength as on Strength as on
01.04.23 01.04.22
ECL 51074 52935
BCCL 37037 38915
CCL 34975 35861
WCL 34390 35741
SECL 41832 44405
MCL 21827 21863
NCL 13753 14228
NEC 667 774
CMPDI 2855 2948
DCC 133 173
CIL(HQ) 667 707
Total (CIL as a whole) 2,39,210 2,48,550
Annexure 16
LOANS AND ADVANCES, GUARANTEES, INVESTMENTS BY COAL INDIA LTD.

(Disclosure as per section 186(4) of Companies Act, 2013)
(H in crore)
For CIL Standalone For CIL Consolidated
Purpose
As at 31.03.2023 As at 31.03.2023
A. Non-Current Loans and Advances
a. Loans to body corporate and
employees
- Secured, considered good 0.02 12.91 As a part of employee benefit
measure
- Unsecured, considered good - 86.81 Loan to Railway Deptt by CERL
subsidiary of SECL
- Credit impaired 1.87 2.15
1.89 101.87
Less: Allowance for doubtful loans 1.87 0.02 2.15 99.72
Deferred Asset on Non Interest Bearing 272.49
Advance
TOTAL (a) 0.02 372.21
b. Other Financial Assets
Non Current
002-115 116-332 333-513
(H in crore)
Purpose
As at 31.03.2023 As at 31.03.2023
Security Deposit 3.48 503.49 Security Deposit for P&T, Electricity
etc.
Less : Allowance for doubtful Security - 3.48 22.05 481.44
deposits
Bank Deposits with more than 12 0.14 309.29 Deposit of surplus fund
months maturity
Deposit in Bank under Mine Closure Plan 75.32 10,120.99 Deposit in Mine closure escrow
fund as per requirement of Mine
closure guidelines issued by
Ministry of Coal
Deposit in Bank under Shifting & 5,320.15 5,320.15 Deposit in shifting and rehabilitation
Rehabilitation Fund scheme fund
Other Deposit and Receivables 35.37 72.18 Claims etc. receivable from
outsiders.
Less : Allowance for doubtful deposits & - 35.37 3.76 68.42
receivables
Total (b) 5,434.46 16,300.29
c. Other Non-Current Asset
(i) Capital Advances 44.23 5,271.43 For procurement of assets for the
company
Less : Allowance for doubtful advances 1.43 42.80 8.76 5,262.67
(ii) Advances other than capital advances
Other Deposits and Advances - 98.82 Security Deposit for obtaining
day to day services and for
procurement of misc. items and
other services etc.
Less : Allowance for doubtful other - - 5.57 93.25
deposits and advances
Progressive Mine Closure Expenses - 4,250.23 Receivable from escrow fund
incurred for expenditure incurred on
progressive mine closure activities.
TOTAL (c) 42.80 9,606.15
Total (a+b+c) 5,477.28 26,278.65
LOANS AND ADVANCES, GUARANTEES, INVESTMENTS BY COAL INDIA LTD.

(Disclosure as per section 186(4) of Companies Act, 2013)
(H in crore)
Purpose
As at 31.03.2023 As at 31.03.2023
B. Current Loans and Advances
a. Loans
Loans to body corporate and
employees
- Secured, considered good - 1.17 As a part of employee benefit
measure
- Unsecured, considered good 19.62
TOTAL (a) - 20.79
b. Other financial assets
Current Asset
Security Deposit 0.34 23.61
Current Account with Subsidiaries 757.92 - For transactions with subsidiaries
relating to Apex Charges,
Rehabilitation Charges and other
transactions
Less : Allowance for doubtful 53.83 704.09 - -
balances with Subsidiaries
Balance with IICM 5.83 5.41 For transaction with Training
Instiute IICM.
Interest accrued 246.21 716.92 Interest accrued on Investment,
Bank deposit etc.
Other Deposit and Receivables 19.70 2,024.18 Mainly includes claim receivable
from customers, recoverable
income tax refund, amount
recoverable from contractors
,customers & suppliers, Interest
receivable on Shifting and
Rehabilitation Fund,etc
Less : Allowance for doubtful 3.47 16.23 53.16 1,971.02
deposits & receivables
TOTAL (b) 972.70 2,716.96
c. Other current assets
Advance payment of statutory dues - 1,387.59 As per requirement of various
Statutory Acts
Less : Allowance for doubtful - - - 1,387.59
Statutory dues
Advance to Related Parties (R&D 67.27 Advances to CMPDIL for R&D and
with CMPDIL) other fund
Other Advances and Deposits 252.84 17,837.68 Recoverable Advance to
employees, Advance against
various miscellaneous expenses,
Payment under protest for Income
tax, commercial tax etc.
Less : Allowance for doubtful other 2.27 250.57 55.39 17,782.29
deposits and advances
Progressive Mine Closure Expenses 0.40 675.20 Receivable from escrow fund
incurred for expenditure incurred on
progressive mine closure activities.
Input Tax Credit receivable 76.81 11,589.85 Input Tax Credit to be utilised
TOTAL (c) 395.05 31,434.93
Total (a+b+c) 1,367.75 34,172.68
002-115 116-332 333-513
(H in crore)
As at 31.03.2023 As at 31.03.2023
C. GUARANTEES
a. The Oustanding balance of subsidiaries Eastern Coalfields Limited and
Mahanadi Coalfields Limited to the extent of their obligations under loans
(principal and interest) made to Export Development Corporation, Canada and
Natixis Banque as on 31.03.2023 are:
Export Development Corporation, Canada 163.73 163.73
Natixis Banque, Paris 4.58 4.58
b. Bank guarantee 0.00 4058.96
TOTAL(C) 168.31 4227.27
(H in crore)
For CIL For CIL
Standalone Consolidated Purpose
As at 31.03.2023 As at 31.03.2023
D. INVESTMENTS
1. Non Current Investments(Unquoted)
a. Investment in Co-operative shares Management participation
(Unquoted)
"B" class shares in Coal Mines Officers - 0.05
Cooperative Credit Society Ltd.
"D" class shares in Dishergarh colly Worker's - 0.01
central co-opt store Ltd.
Mugma coalfield colly Worker's central co-opt - 0.01
store Ltd
"B" class shares in Sodepur colly Employee's - 0.005
co-opt credit society Ltd.
"B" class shares in Dhenomain colly. - 0.005
Employees' co-opt credit society Ltd.
Total (a) - 0.08
Investment in Equity Instruments
(b) Equity Shares in Subsidiary Companies Strategic Investment in wholly owned
subsidiary
Eastern Coalfields Limited (Sanctoria , West 4269.42 -
Bengal )
Central Coalfields Limited (Ranchi , 940.00
Jharkhand )
Bharat Coking Coal Limited (Dhanbad, 4657.00 -
Jharkhand)
Western Coalfields Limited (Nagpur , 297.10 -
Maharastra)
Central Mine Planning & Design Institute 19.04 -
Limited (Ranchi, Jharkhand)
Northern Coalfields Limited (Singrauli, 126.19 -
Madhya Pradesh )
South Eastern Coalfields Limited (Bilaspur, 278.36 -
Chattisgarh)
Mahanadi Coalfields Limited (Sambalpur, 132.37 -
Orissa)
Coal India Africana Limitada (Moatize, 0.53 -
Mozambique)
CIL Solar PV Limited (Kolkata, West Bengal) 0.05 -
CIL Navikarniya Urja Limited (Kolkata, West 0.05 -
Bengal)
Total (b) 10,720.11 -
(H in crore)
For CIL For CIL
Standalone Consolidated Purpose
As at 31.03.2023 As at 31.03.2023
(c) Equity Shares in Joint Venture Companies
(Unquoted)
International Coal Venture Private Limited , 2.80 7.75 JV for acquisition of coking coal
New Delhi properties abroad
CIL NTPC Urja Private Limited , New Delhi 0.08 0.08 JV for setting up a joint integrated
power plants along with mining of
coal
Talcher Fertilizers Limited, Bhubaneswar, 805.48 809.30 JV for revival of Talcher unit of FCIL
Orissa
Hindustan Urvarak & Rasayan Limited, 2295.96 2266.86 JV for revival of Sindri, gorakhpur
Kolkata fertiliser unit of FCIL and Barauni unit
of HFCL.
Coal Lignite Urja Vikas Private Limited, New 0.01 1.33 JV for power generation mainly
Delhi through renewable sources.
Total (c) 3,104.33 3,085.32
Grand Total (a+b+c) (1) 13,824.44 3,085.40
2. Current
Mutual Fund Investment Investment of surplus fund in various
securities
SBI Mutual Fund - Overnight - 660.32
SBI Mutual Fund - Ultra Magnum - 2,083.32
SBI Mutual Fund - Liquid Fund 38.21 1,046.97
Canara Robeco Mutual Fund - 66.04
Union KBC Mutual Fund 0.01 40.27
Bank of Baroda Mutual Fund 0.01 157.09
Investments in Secured Bonds (quoted) - -
Total (2) 38.23 4,054.01
Total (1 + 2) 13,862.67 7,139.41
ANNEXURE 17
002-115
Statement pursuant to first proviso to sub-section (3) of section 129 read with rule 5 of Companies (Accounts) rules, 2014 as at 31st March, 2023
Form AOC1
Corporate Overview
(Pursuant to first proviso to sub-section (3) of section 129 read with rule 5 of Companies (Accounts) Rules, 2014)
Statement containing salient features of the financial statement of subsidiaries/associate companies/joint ventures
To the consolidated financial statement for the year ended 31st March, 2023.
Part "A": Subsidiaries

116-332
(H in crore)
The date
Other
since when Reserves Profit Provision Profit After Total
Sl. Share Total Total Share of Comprehensive % of
Name of Subsidiary subsidiary & Investments Turnover Before for Taxation comprhensive
Statutory Reports
No. Capital Assets Liabilities Minority Income (Net of Shareholding

was Surplus Taxation Taxation e.t.c. Income
Tax)
acquired1
Indian Subsidiaries
1 Eastern Coalfields Limited 01-11-1975 4269.42 (1725.55) 17172.90 17172.90 0.08 19351.00 793.95 177.53 - 616.42 113.74 730.16 100.00
2 Bharat Coking Coal Limited 01-01-1972 4657.00 (872.87) 13316.76 13316.76 79.72 16337.56 502.88 (142.13) - 645.01 (134.65) 510.36 100.00
3 Central Coalfields Limited 05-09-1956 940.00 9384.15 25834.59 25834.59 718.59 22720.19 3751.74 994.66 1.94 2757.08 177.59 2934.67 100.00
4 Northern Coalfields Limited 28-11-1985 630.94 10545.53 29117.76 29117.76 600.71 32965.11 9357.46 2383.47 - 6973.99 (9.41) 6964.58 100.00
333-513
5 Western Coalfields Limited 29-10-1975 297.10 1793.83 19469.67 19469.67 591.08 20087.76 626.19 159.73 - 466.46 118.65 585.11 100.00
6 South Eastern Coalfields Limited 28-11-1985 668.06 6221.56 44426.47 44426.47 955.80 33321.84 3301.09 923.25 (42.40) 2377.84 59.28 2437.12 100.00
7 Mahanadi Coalfields Limited 03-04-1992 661.84 12568.53 48647.52 48647.52 1069.88 41918.77 18481.06 5017.87 0.21 13463.19 45.26 13508.45 100.00
8 Central Mine Planning & Design 01-11-1975 142.80 1094.98 1919.53 1919.53 - 1637.76 366.95 70.29 - 296.66 19.42 316.08 100.00
Institute Limited
9 CIL Navikarniya Urja Limited 16-04-2021 0.05 - 0.05 0.05 - - - - - 100.00
10 CIL Solar PV Limited 16-04-2021 0.05 - 0.05 0.05 - - - - - 100.00
Foreign Subsidiary
11 Coal India Africana Limited 2&3 10-08-2009 53.13 (5422.47) 51.00 51.00 - - (17.05) - - (17.05) 14.35 (2.70) 100.00
(Mozambique) (Reporting
Currency - MZN) (J in Lacs)
Note:
1. Date of incorporation of subsidiaries has been considered
2. Exchange rate as on 31.03.2023: 1 MZN = H 1.3004888
203
3. Coal India Africana Limitada (Mozambique) and CIL Solar PV Limited is yet to commence operations
Sd/- Sd/- Sd/- Sd/-

(Sunil Kumar Mehta) (B P Dubey) (Debasish Nanda) (Pramod Agrawal)
Executive Director (Finance)/CFO Company Secretary Director(BD/Finance-Addl Charge) Chairman- Cum-Managing Director & CEO
DIN- 09015566 DIN-00279727
Part "B": Associates and Joint Ventures
Statement pursuant to Section 129 (3) of the Companies Act, 2013 related to Associate Companies
and Joint Ventures
To the consolidated financial statement for the year ended 31st March, 2023.
H in crore
International Talcher Hindustan Coal Lignite Urja
CIL NTPC Urja
Name of Joint Ventures Coal Ventures Fertilizers Urvarak & Vikas Private
Private Limited
Private Limited Limited1 Rasayan Limited Limited
1. Latest audited Balance 31.03.2022 31.03.2022 31.03.2022 31.03.2022 31.03.2022
Sheet Date
2. Date on which the Joint 27-04-2010 20-05-2009 13-11-2015 15-06-2016 10-11-2020
Venture were associated
or acquired
3. Shares of Joint Ventures
held by the company on
the year end
No. 76900 2800000 805480826 2295955000 10000
Amount of Investment in 0.08 2.80 805.48 2295.96 0.01
Associates/Joint Venture
Extent of Holding% 50.00 0.19 33.33 33.33 50.00
4. Description of how there By virtue of By virtue of By virtue of By virtue of By virtue of
is significant influence agreement agreement agreement agreement agreement
5. Reason why the NA NA NA NA NA

Joint venture is not
consolidated
6. Networth attributable 0.01 4.52 798.02 1785.27 0.39
to Shareholding as per
latest audited Balance
Sheet
7. Profit/(Loss) for the year
i. Considered in 0.06 - 11.21 (20.35) 0.94
Consolidation2
ii. Not Considered in NA NA NA NA NA
Consolidation
Note- 1. Talcher Fertilizers Limited is yet to commence operation.
2. In preparation for the Financial Statements for FY 2022-23, management-certified Financial Statements for FY 2022-
23 of the above Joint ventures have been considered, except for International Coal Ventures Private Limited for which
audited financial statements of FY 2021-22 have been considered.
Sd/- Sd/-
(Pramod Agrawal) (Debasish Nanda)
Chairman- Cum-Managing Director & CEO Director (BD/Finance-Addl. Charge)
DIN-00279727 DIN- 09015566
Sd/- Sd/-
(Sunil Kumar Mehta) (B P Dubey)
Executive Director (Finance)/CFO Company Secretary
002-115 116-332 333-513
ANNEXURE 18
Secretarial Audit Report as per companies act 2013 and Secretarial Audit
Report of Material Subsidiaries and Management explanation.
PARIKH & ASSOCIATES Office
COMPANY SECRETARIES 111,11th Floor, Sai Dwar CHS Ltd
Sab TV Lane, Opp Laxmi Industrial Estate, Off Link
Road, Above Shabari Restaurant,
Andheri (W), Mumbai: 400053
TEL-022-26301232/1233 Email:cs@parikhassociates.com
parikh.associates@rediffmail.com
FORM No. MR-3
SECRETARIAL AUDIT REPORT

FOR THE FINANCIAL YEAR ENDED 31ST MARCH, 2023
(Pursuant to Section 204 (1) of the Companies Act, 2013 and rule No. 9 of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014)
To,
The Members,
Coal India Limited
Kolkata
We have conducted the Secretarial Audit of the compliance (iii) The Depositories Act, 1996 and the Regulations and Bye-
of applicable statutory provisions and the adherence to laws framed thereunder;
good corporate practices by Coal India Limited (hereinafter
(iv) Foreign Exchange Management Act, 1999 and the rules
called the ‘Company). Secretarial Audit was conducted in a
and regulations made thereunder to the extent of Foreign
manner that provided us a reasonable basis for evaluating the
Direct Investment, Overseas Direct Investment and External
corporate conducts/statutory compliances and expressing our
Commercial Borrowings;
opinion thereon.
(v) The following Regulations and Guidelines prescribed under the
Based on our verification of the Company’s books, papers, minute Securities and Exchange Board of India Act, 1992 (‘SEBI Act’)
books, forms and returns filed and other records maintained
by the Company, to the extent the information provided by the (a) The Securities and Exchange Board of India
Company, its officers, agents and authorised representatives (Substantial Acquisition of Shares and Takeovers)
during the conduct of secretarial audit, the explanations and Regulations, 2011;
clarifications given to us and the representations made by the
(b) The Securities and Exchange Board of India (Prohibition
Management and considering the relaxations granted by the
of Insider Trading) Regulations, 2015;
Ministry of Corporate Affairs and Securities and Exchange Board
of India warranted due to the spread of the COVID-19 pandemic, (c) The Securities and Exchange Board of India (Issue of
we hereby report that in our opinion, the Company has, during Capital and Disclosure Requirements) Regulations,
the audit period covering the financial year ended on 31st 2018 and amendments from time to time; (Not
March, 2023, generally complied with the statutory provisions applicable to the Company during the audit period)
listed hereunder and also that the Company has proper Board
processes and compliance mechanism in place to the extent, in (d) The Securities and Exchange Board of India (Share
the manner and subject to the reporting made hereinafter: Based Employee Benefits and Sweat Equity)
Regulations, 2021; (Not applicable to the Company
We have examined the electronic records which includes during the audit period)
books, papers, minute books, forms and returns filed and other
records made available to us and maintained by the Company (e) The Securities and Exchange Board of India (Issue and
for the financial year ended on 31st March, 2023 according to Listing of Non-Convertible Securities) Regulations, 2021;
the provisions of: (Not applicable to the Company during the audit period)
(i) The Companies Act, 2013 (the Act) and the rules made (f) The Securities and Exchange Board of India (Registrars
thereunder; to an Issue and Share Transfer Agents) Regulations, 1993
regarding the Companies Act and dealing with client;
(ii) The Securities Contract (Regulation) Act, 1956 (‘SCRA’)
(Not applicable to the Company during the audit period);
and the rules made thereunder;
(g) The Securities and Exchange Board of India (Delisting (ii) The Listing Agreements entered into by the Company with
of Equity Shares) Regulations, 2021; (Not applicable to BSE Limited and National Stock Exchange of India Limited
the Company during the audit period) and read with the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 (SEBI LODR, 2015).
(h) The Securities and Exchange Board of India (Buyback
of Securities) Regulations, 2018; (Not applicable to the During the period under review, the Company has generally
Company during the audit period) complied with the provisions of the Act, Rules, Regulations,
Guidelines, standards etc. mentioned above.
(vi) Corporate Governance Guidelines issued by Department of
Public Enterprises vide their OM. No. 18(8)/2005-GM dated We further report that:
14th May, 2010.
The Board of Directors of the Company is constituted with
(vii) Other laws applicable specifically to the Company namely: balance of Executive Directors, Non-Executive Directors and
Independent Directors except that the Board did not comprise
1. The Coal Mines Act, 1952 of an independent woman director. The changes in the
2. Indian Explosives Act, 1884 composition of the Board of Directors that took place during
the period under review were carried out by complying with the
3. Colliery Control Order, 2000 and Colliery Control Rules,
aforesaid provisions.
2004
4. The Coal Mines Regulations, 2017 The BSE Limited and National Stock Exchange of India Limited
have levied penalties on the Company with respect to above
5. The Payment of Wages (Mines) Rules, 1956
non-appointment of Woman Independent Director and the
6. Coal Mines Pension Scheme, 1998 Company has requested for a waiver of such penalties. The
7. Coal Mines Conservation and Development Act, 1974 reply of stock exchanges is awaited.
8. The Mines Vocational Training Rules, 1966 Adequate notice was given to all directors to schedule the
9. The Mines Creche Rules, 1961 Board Meetings, agenda and detailed notes on agenda were
sent at least seven days in advance except where the meeting
10. The Mines Rescue Rules, 1985
was held at a short notice to transact urgent business, and a
11. Coal Mines Pithead Bath Rules, 1946 system exists for seeking and obtaining further information and
12. Maternity Benefit (Mines and Circus) Rules, 1963 clarifications on the agenda items before the meeting and for
meaningful participation at the meeting.
13. The Explosives Rules, 2008
14. Mineral Concession Rules, 1960 Decisions at the Board Meetings were taken unanimously.
15. Coal Mines Provident Fund and Miscellaneous We further report that there are adequate systems and processes
Provisions Act, 1948 in the Company commensurate with the size and operations of
16. Mines and Minerals (Development and Regulation) Act, the Company to monitor and ensure compliance with applicable
1957 laws, rules, regulations and guidelines.
17. The Payment of Undisbursed Wages (Mines) Rules, We further report that during the audit period no events
1989 occurred which had a major bearing on the Company’s affairs in
18. Indian Electricity Act, 2003 and the Indian Electricity pursuance of the laws, rules, regulations, guidelines, standards
Rules, 1956 etc. referred to above
19. Environment Protection Act, 1986 and Environment

Protection Rules, 1986
20. The Hazardous and Other Wastes (Management and
Transboundary Movement) Rules, 2016.
For Parikh& Associates
21. The Water (Prevention & Control of Pollution) Act, 1974
Company Secretaries
and Rules made thereunder
22. The Air (Prevention & Control of Pollution) Act, 1981 Sd/-
P. N. Parikh
(viii) Other laws to the extent applicable to the Company as per
Partner
the representations made by the Company;
FCS No: 327 CP No:
We have also examined compliance with the applicable clauses 1228
of the following: Place: Mumbai UDIN:F000327E000539591
Date: 03.07.2023 PR No.: 1129/2021
(i) Secretarial Standards issued by The Institute of Company
Secretaries of India with respect to board and general This Report is to be read with our letter of even date which is
meetings. annexed as Annexure A and forms an integral part of this report.
002-115 116-332 333-513
ANNEXURE A
To,
The Members
Coal India Limited
Kolkata
Our report of even date is to be read along with this letter. 5. The Compliance of the provisions of Corporate and
other applicable laws, rules, regulations, standards is the
1. Maintenance of secretarial record is the responsibility of responsibility of management. Our examination was limited
the management of the Company. Our responsibility is to to the verification of procedure on test basis.
express an opinion on these secretarial records based on
our audit. 6. The Secretarial Audit report is neither an assurance as to
the future viability of the Company nor of the efficacy or
2. We have followed the audit practices and process as were effectiveness with which the management has conducted
appropriate to obtain reasonable assurance about the the affairs of the Company.
correctness of the contents of the secretarial records. The
verification was done on test basis to ensure that correct For Parikh& Associates
facts are reflected in secretarial records. We believe that the Company Secretaries
process and practices, we followed provide a reasonable
basis for our opinion.
Sd/-
3. We have not verified the correctness and appropriateness P. N. Parikh
of financial records and Books of Accounts of the Company. Partner
FCS No: 327 CP No: 1228
4. Where ever required, we have obtained the Management Place: Mumbai UDIN:F000327E000539591
representation about the Compliance of laws, rules and Date: 03.07.2023 PR No.: 1129/2021
regulations and happening of events etc.
Observation of Secretarial Auditor & Management Explanation

Sl Observations of Secretarial Auditor Management Explanation
1 Board did not comprise of an Independent As per the Articles of Association of the Company, Coal India being a CPSE, the
woman director power to appoint Director vests with Govt. of India. Company had taken up the
matter with Ministry of Coal, the Administrative Ministry even before vacancy
arose as well as subsequent to the vacancy to arrange to appoint a Woman
Independent Director to comply with SEBI (LODR) regulations 2015.
2 BSE Limited and National Stock Exchange The Company has requested BSE & NSE for a waiver of such penalties as the
of India Limited have levied penalties power to appoint Director in CPSE lies with Govt. of India.
on the Company with respect to above
non-appointment of Woman Independent
Director
Mehta & Mehta INFINITY BENCHMARK, 18TH FLOOR, ROOM NO. 105,
COMPANY SECRETARIES STREET NO. 25, GP BLOCK, SECTOR-5
BIDHANNAGAR, KOLKATA- 700091
Tel.: +91 9867771580 ,
Email: raveena@mehta-mehta.com
Visit Us : www.mehta-mehta.com
FORM No. MR-3

(Pursuant to Section 204 (1) of the Companies Act, 2013 and rule No. 9 of the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014)
To,
The Members,
EASTERN COALFIELDS LIMITED,
CMDs Office, Sanctoria,
P.O. – Dishergarh,
Dist. - Paschim Bardhaman,
Pin-713333, West Bengal
We have conducted the secretarial audit of the compliance (v) The following Regulations and Guidelines prescribed under
of applicable statutory provisions and the adherence to good the Securities and Exchange Board of India Act, 1992
corporate practices by Eastern Coalfields Limited (hereinafter ('SEBI Act'):-
called "the Company"). Secretarial audit was conducted in a
manner that provided us a reasonable basis for evaluating the (a) The Securities and Exchange Board of India
corporate conduct / statutory compliance and expressing our (Substantial Acquisition of Shares and Takeovers)
opinion thereon. Regulations, 2011 (during the period under review
not applicable to the company);
Based on our verification of the Company's books, papers,
minutes books, forms and returns filed and other records (b) The Securities and Exchange Board of India (Prohibition
maintained by the Company and also the information of Insider Trading) Regulations, 2015;
provided by the Company, its officers, agents and authorized
(c) The Securities and Exchange Board of India (Issue of
representatives during the conduct of secretarial audit, we
Capital and Disclosure Requirements) Regulations,
hereby report that in our opinion, the Company has, during the
2018 (during the period under review not applicable
audit period covering the financial year ended on March 31,
to the company);
2023, complied with the statutory provisions listed here under
and also that the Company has proper Board processes and (d) The Securities and Exchange Board of India (Issue and
compliance mechanism in place to the extent, in the manner Listing of Non-Convertible Securities) Regulations,
and subject to the reporting made hereinafter: 2021 (during the period under review not applicable
to the company);
We have examined the books, papers, minute books, forms and
returns filed and other records maintained by the Company for (e) The Securities and Exchange Board of India (Share
the financial year ended on March 31, 2023, according to the Based Employee Benefits and Sweat Equity)
provisions of: Regulations, 2021 (during the period under review
(i) The Companies Act, 2013 ('the Act') and the rules made
thereunder; (f) The Securities and Exchange Board of India (Registrars
to an Issue and Share Transfer Agents) Regulations,
(ii) The Securities Contracts (Regulation) Act, 1956 ('SCRA')
1993 regarding the Companies Act and dealing with
and the rules made there under (during the period under
client (during the period under review not applicable
review not applicable to the company);
to the Company);
(iii) The Depositories Act, 1996 and the Regulations and Bye-
(g) The Securities and Exchange Board of India (Delisting
laws Framed there under (during the period under review
of Equity Shares) Regulations, 2021 (during the period
under review not applicable to the Company);
(iv) Foreign Exchange Management Act, 1999 and the rules
(h) The Securities and Exchange Board of India (Buyback
and regulations made thereunder to the extent of Foreign
of Securities) Regulations, 2018 (during the period
Direct Investment;
under review not applicable to the Company);
002-115 116-332 333-513
We have examined compliance with the applicable clauses of We further report that:
the following:
During the Audit Period, the Company has complied with the
(i) Secretarial Standards issued by the Institute of Company provisions of the Act, Rules, Regulations, Guidelines, etc.
Secretaries of India; mentioned above except to the extent as mentioned below.
(ii) Securities and Exchange Board of India (Listing Obligations 1. Composition of the Board of Directors of the
and Disclosure Requirements) Regulations, 2015 (during Company
the period under review not applicable to the Company);
The requisite number of Independent Directors was not
(iii) Other laws specifically applicable to the Company namely: on the Board of the Company as contemplated in Section
149(4) of the Act, the Clause 3.1.2 of DPE Guidelines on
a) The Coal Mines Act, 1952
Corporate Governance for Central Public Sector Enterprise
b) Indian Explosives Act, 1884 (CPSE) issued by the Department of Public Enterprises
(DPE) during the period under review.
c) Colliery Control Order, 2000 and Colliery Control Rules,
2004 We further report that all the changes in the composition
d) The Coal Mines Regulations, 2017 of the Board of Directors during the Audit Period, except
the aforesaid, were made in due compliance of the various
e) The Payment of Wages (Mines) Rules, 1956 provisions of the Act and DPE Guidelines on Corporate
f) Coal Mines Pension Scheme, 1998 Governance for CPSE.
g) Coal Mines Conservation and Development Act, 1974 Adequate notices are given to all Directors to schedule the
Board / Committee Meetings, agenda and detailed notes
h) The Mines Vocational Training Rules, 1966
on agenda were sent at least seven days in advance and a
i) The Mines Creche Rules, 1961 system exists for seeking and obtaining further information
and clarifications on the agenda items before the meeting
j) The Mines Rescue Rules, 1985
and for meaningful participation at the meeting.
k) Coal Mines Pithead Bath Rules, 1946
Majority decision is carried through while the dissenting
l) Maternity Benefit (Mines and Circus) Rules, 1963 members’ views are captured and recorded as part of the
m) The Explosives Rules, 2008 minutes.
n) Mineral Concession Rules, 1960 We further report that there are adequate systems and
processes in the company commensurate with the size and
o) Coal Mines Provident Fund and Miscellaneous
operations of the company to monitor and ensure compliance
Provisions Act, 1948
with applicable laws, rules, regulations and guidelines.
p) Mines and Minerals (Development and Regulation) Act,
1957 We further report that during the audit period the Company
did not had any specific event, having a major bearing on
q) The Payment of Undisbursed Wages (Mines) Rules,
the Company’s affairs in pursuance of the above referred
1989
laws, rules, regulations, guidelines, standards, etc.
r) Indian Electricity Act, 2003 and the Indian Electricity
Rules, 1956 For Mehta & Mehta,
Company Secretaries
s) Environment Protection Act, 1986 and Environment
(ICSI Unique Code P1996MH007500)
t) The Hazardous and Other Wastes (Management and

Transboundary Movement) Rules, 2016 Sd/-
Atul Mehta
u) The Water (Prevention & Control of Pollution)Act, 1974
Partner
and Rules made thereunder
FCS No: 5782
v) The Air (Prevention & Control of Pollution) Act, 1981 Place: Mumbai CP No.: 2486
Date: 22.06.2023 UDIN: F011993E000662381
w) Public Liability Insurance Act,1991 and Rules made
thereunder.
Note: This report is to be read with our letter of even date which
During the period under review the Company has complied with is annexed as ‘ANNEXURE A’ and forms an integral part of this
the provisions of Act, Rules, Regulations, Guidelines etc. report.
‘ANNEXURE A’
To,
The Members,
EASTERN COALFIELDS LIMITED,
CMDs Office, Sanctoria,
P.O. – Dishergarh,
Dist. - Paschim Bardhaman,
Pin-713333, West Bengal
Our report of even date is to be read along with this letter.
1) Maintenance of secretarial record is the responsibility of the management of the Company. Our responsibility is to express an
opinion on these secretarial records based on our audit.
2) We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness
of the contents of the secretarial records. The verification was done on test basis to ensure that correct facts are reflected in
secretarial records. We believe that the processes and practices we followed provide a reasonable basis for our opinion.
3) We have not verified the correctness and appropriateness of financial records and Books of Accounts of the Company.
4) Wherever required, we have obtained the Management representation about the compliance of laws, rules and regulations and
happening of events etc.
5) The compliance of the provisions of corporate laws, rules, regulations, standards is the responsibility of management. Our
examination was limited to the verification of procedures on test basis.
6) As regard the books, papers, forms, reports and returns filed by the Company under the provisions referred to in our Secretarial
Audit Report in Form MR-3 the adherence and compliance to the requirements of the said regulations is the responsibility of
management. Our examination was limited to checking the execution and timeliness of the filing of various forms, reports,
returns and documents that need to be filed by the Company with various authorities under the said regulations. We have not
verified the correctness and coverage of the contents of such forms, reports, returns and documents.
7) The secretarial audit report is neither an assurance as to the future viability of the Company nor of the efficacy or effectiveness
with which the management has conducted the affairs of the Company.
For Mehta & Mehta,

Company Secretaries
(ICSI Unique Code P1996MH007500)
Sd/-
Atul Mehta
Partner
FCS No: 5782
Place: Mumbai CP No.: 2486
Date: 22nd June, 2023 UDIN: F011993E000662381
Management Explanation to the Secretarial Audit Report-2022-23 of ECL
SL.
Observation by Secretarial Auditor Management Explanation
No.
1. The requisite number of Independent It is a statement of fact.
Directors was not on the Board of the Appointment of Directors in ECL is being done by Ministry of Coal, Govt. of India.
Company as contemplated in Section 149(4)
of the Act, the Clause 3.1.2 of DPE Guidelines
on Corporate Governance for Central Public
Sector Enterprise (CPSE) issued by the
Department of Public Enterprises (DPE)
during the period under review.
002-115 116-332 333-513
Satish Kumar & Associates Office No. 603, 6th Floor, Samridhi Square,
Company Secretaries Kishore Ganj Chowk, Ranchi- 834001
Ph:-09334606570/09135009905/0651-2212943
E-Mail:cssatish26@gmail.com/skaranchi2@gmail.com
PAN:-ADGFS8830H
FORM NO. MR-3
[Pursuant to Section 204(1) of the Companies Act, 2013 and Rule 9 of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014]

To, 9. Guidelines on Corporate Governance for Central Public

The Members, Sector Enterprises, issued by Department of Public
Central Coalfields Limited Enterprises.
Ranchi
10. Constitution of Board of Directors of Company specified in
We have conducted the Secretarial Audit of the compliance Ministry of Coal Letter No. 21/35/2005-ASO (iv) dated 6th
of applicable statutory provisions and the adherence to June, 2008.
good corporate practices of M/s Central Coalfields Limited
11. The Compliances of Specific laws as applicable on Central
(hereinafter called the “Company”). Secretarial Audit was
Coalfields Limited (the Company) are the responsibility of
conducted in a manner that provided us a reasonable basis for
the management of the Company. Our Report is limited
evaluating the corporate conducts/statutory compliances and
to the extent of the Compliance Certificates provided by
expressing our opinion thereon.
the management and its officials. However, assurance/
Based on our verification of the Company’s books, papers minute reliability of Compliances of Statutory Returns to be filed
books, forms and return filed and other records maintained under other laws specifically applicable on the production
by the Company and also the information provided by the unit/ area has been relied upon the Certificates received
Company, its officers, agents and authorized representatives from the concerned HOD’s or Officials of the Company(refer
during the audit period from April 2022 to March 2023, along “ANNEXURE-B1”).
with other documents/ filings as may be relevant, which has
I. In our opinion, based on the examination carried out by
been relied upon for the financial year ended on 31st March,
us, verification of records produced to us and according
2023 in respect of the compliances of the provisions of: -
to the information furnished to us by the Company and
1. The Companies Act, 2013 and the Rules made there under. Officers, the Company has complied with the provisions
of the Companies Act, 2013 (“the Act”) and Rules made
2. Secretarial Standards issued by the Institute of Company under the Act, the Memorandum and Articles of association
Secretaries of India. of the Company, subject to the provisions as stated
specifically herein; and also that the Company has proper
3. The Depositories Act, 1996and the Regulations and Bye-
board-processes and compliance-mechanism in place to
laws framed there under.
the extent, in the manner and subject to the reporting and
4. The SEBI (Listing Obligations & Disclosure Requirements) observations (Refer in ANNEXURE-B).
Regulations. 2015.
1. Form of Balance Sheet as prescribed under Part I, form
of Statement of Profit and Loss as prescribed under Part
5. Guidelines on Corporate Governance for Central Public
II and general instructions for preparation of the same as
Sector Enterprises, issued by Department of Public
prescribed in Schedule III to the Act.
Enterprises vide their OM No. 18(8)/2005-GM dated 14th
May, 2010. 2. The Board of Directors of the company is not having
an adequate balance of Executive, Non-Executive&
6. Contract Labour (Regulation and Abolition) Act, 1970. Independent Director pursuant to the Guidelines on
Corporate Governance for Central Public Sector Enterprises,
7. The Sexual Harassment of Women at Workplace issued by Department of Public Enterprises vide their OM
(Prevention, Prohibition and Redressal) Act, 2013. No. 18(8)/2005-GM dated 14th May, 2010, provision of
section 149 (1) of Companies Act, 2013 read with Rule 3
8. The Environment (Protection) Act, 1986 and other of (Companies Appointment of Directors) Rules, 2014 and
environmental laws and rules framed there under. directives issued by the Ministry of Coal specifically with
regard to Women director and Independent Director. noted and recorded by the Board.
3. Registered Office and publication of the name of the 2. The Directors have complied with the disclosure
Company. requirements in respect of their eligibility of appointments,
their being independent and compliance with the Code of
4. Filing of requisite forms and returns with the Registrar of Conduct of Directors and Senior Management Personnel.
Companies, Jharkhand within the time prescribed under
the Act and the rules framed there under. 3. There was no prosecution initiated and no fines or penalties
were imposed on the Company, its Directors and Officers,
5. Convening and holding of the Meetings of Board of during the period under review.
Directors and Committees thereof.
4. No compliances of any nature are pending with the
6. Convening and holding of 66thAnnual General Meeting of company based on the compliance mechanism established
the Members on Thursday, 4thAugust, 2022. by the company and on the basis of the Compliance
Certificate(s) & other certificate issued by the Company
7. Maintenance of Minutes of the proceedings of the Annual Secretary, Compliance Officer of the Company and other
General Meeting, Extra-Ordinary General Meeting, Board
Departmental Heads of the Company.
Meetings and Meetings of Committees of the Board,
properly recorded in loose leaf form, which are being bound 5. We further report that during the Audit, the Company has
in a book form at regular intervals. not incurred any specific event/ action that can have a major
bearing on the Company’s affairs in pursuance of the above
8. Payment of Remuneration to Directors. referred laws, rules, regulations, guidelines, standards, etc.
9. Appointment and Remuneration of Statutory Auditors,
Internal Auditors and Cost Auditors. For Satish Kumar & Associates
10. Composition and terms of reference of the Audit Committee

and Nomination & Remuneration Committee. Sd/-
Place: Ranchi Satish Kumar
11. Service of Documents by the Company on its Members Date: 11th July, 2023 Company Secretary
and Auditors. UDIN: F008423E000589124 FCS No.: 8423
We further report that C.P. No.: 9788
Note: - This report is to be read with our letter of event

1. The Directors have disclosed their Shareholdings and
date which is annexed as “Annexure-A”, “Annexure-B” and
Directorships in other companies and interests in other
“Annexure-B1” forms an integral part of this report.
entities as and when required and their interests have been
Annexure-A
To, the responsibility of management. Our examination was

Central Coalfields Limited limited to the verification of procedure on test basis.
Ranchi
4. The Secretarial Audit report is neither an assurance as to
Our report of event date is to be read along with this letter. the future viability of the Company nor of the efficacy or
effectiveness with which the management has conducted
the affairs of the Company.
MANAGEMENT'S RESPONSIBILITY
5. We have not verified the correctness and appropriateness
I. Maintenance of Secretarial Records is the responsibility of
of financial records and books of account, GST and TDS
the management of the Company. Our responsibility is to
Retums etc of the Company.
express an opinion on these secretarial records based on
our Audit. 6. The Company has complied with the provisions, regulations,
circulars except in respect of the matters specified in
2. We have followed the audit practices and the processes as
"ANNEXURE-B".
were appropriate to obtain reasonable assurance about the
correctness of the contents of the secretarial records. The
For Satish Kumar & Associates
verification was done on test basis to ensure that correct
facts are reflected in secretarial records. We believe that
the processes and practices followed by us provide a Sd/-
reasonable basis to lorm our opinion. Place: Ranchi Satish Kumar
Date: 11th July, 2023 Company Secretary
3. The compliance of the provisions of Corporate Govemance UDIN: F008423E000589124 FCS No.: 8423
and other applicable laws, rules, regulations, standards is C.P. No.: 9788
002-115 116-332 333-513
Annexure B
SL.
OBSERVATIONS MANAGEMENT EXPLANATION
No.
1. The Company was not in compliance The Company is a Government Company under the administrative control of
of the provision of section 149 (1) of the Ministry of Coal, Government of India and a wholly owned subsidiary of
Companies Act, 2013 read with Rule 3 Coal India Limited. The appointment of Directors is done by Ministry of Coal,
of (Companies Appointment of Directors) Government of India in which the company has no role.
Rules, 2014 specifically with regard to the
However, the representation has made to administrative Ministry for filling up of
appointment of Women Director on the
vacancies of Woman Director on Board of Directors of the company.
board.
2. The Board of Directors of the Company is The Company is a Government Company under the administrative control of
not duly constituted with proper balance the Ministry of Coal, Government of India and a wholly owned subsidiary of
of Executive Directors, Non-Executive Coal India Limited. The appointment of Directors is done by Ministry of Coal,
Directors and Independent Directors Government of India in which the company has no role.
in accordance with the Guidelines on
Corporate Governance for Central Public However, the representation has made to administrative Ministry for filling up
Sector Enterprises, issued by Department of vacancies of Non-Official Part-time (Independent) Directors on Board of
of Public Enterprises vide their OM No. Directors of the company.
18(8)/2005-GM dated 14th May, 2010,
as the Board has only one Independent
Director against the total requirement
of five Independent Directors as per the
guidelines referred hereinabove.
Annexure- B1
Compliances with respect to the Specific Laws as applicable on the Company referred below are completely based on the Compliance
Certificates received from the management of the Company and its Officials (forms an integral part of this report)
1. The Coal Mines Act, 1952

2. Indian Explosives Act, 1884
3. Colliery Control Order, 2000 and Colliery Control Rules, 2004
4. The Coal Mines Regulations, 2017
5. The Payment of Wages (Mines) Rules, 1956
6. Coal Mines Pension Scheme, 1998
7. Coal Mines Conservation and Development Act, 1974
8. The Mines Vocational Training Rules, 1966
9. The Mines Creche Rules, 1961
10. The Mines Rescue Rules, 1985
11. Coal Mines Pithead Bath Rules, 1946
12. Maternity Benefit (Mines and Circus) Rules, 1963
13. The Explosives Rules, 2008
14. Mineral Concession Rules, 1960
15. Coal Mines Provident Fund and Miscellaneous Provisions Act, 1948
16. Mines and Minerals (Development and Regulation) Act, 1957
17. The Payment of Undisbursed Wages (Mines) Rules, 1989
18. The Indian Electricity Act, 2003 and the Indian Electricity Rules, 1956
19. The Environment Protection Act, 1986 and Environment Protection Rules, 1986
20. The Hazardous and Other Wastes (Management and Transboundary Movement) Rules, 2016.
21. The Water (Prevention & Control of Pollution) Act, 1974 and Rules made thereunder
22. The Air (Prevention & Control of Pollution) Act, 1981
23. Public Liability Insurance Act’1991 and Rules made there under
J. K. DAS & ASSOCIATES PlotNo.883, Bijan Kanan

COMPANY SECRETARIES Bansdroni, Kolkata-700096,
Tel:24102892/93
(M):9831204082
Email:jkdascs@gmail.com
Web:www.jkdasassociates.com
FORM NO. MR-3

To,
The Members
M/s. Mahanadi Coalfields Limited
Jagruti Vihar Burla,
Sambalpur-768020
Orissa, India
We have conducted the secretarial audit of the compliance of (v) The Regulations and Guidelines prescribed under the
applicable statutory provisions and the adherence to good Securities and Exchange Board of India Act, 1992 (‘SEBI
corporate practices by M/s. Mahanadi Coalfields Limited (CIN: Act’)
U10102OR1992GOI003038) (hereinafter called the Company).
Secretarial Audit was conducted in accordance to the CSAS- (a) The Securities and Exchange Board of India (Prohibition
4-Auditing Standard on Secretarial Audit issued by the Institute of Insider Trading Regulations) 2015,
of Company Secretaries of India (the ICSI) that provided me a
(b) The Securities and Exchange Board of India (Listing
reasonable basis for evaluating the corporate conducts/statutory
Obligations and Disclosure Requirements) Regulations,
compliances and expressing my opinion thereon.
2015
Based on my verification of the books, papers, minute books,
(vi) Corporate Governance Guidelines issued by Department of
forms and returns filed and other records maintained by the
Public Enterprises vide their OM. No. 18(8)/2005-GMdated
Company and also the information provided by the Company,
14th May, 2010;
its officers, agents and authorized representatives during the
conduct of secretarial audit, the explanations and clarification We report that, having regard to the compliance system
given to me and the representation made by the management, prevailing in the Company and on examination of the relevant
We hereby report that in my opinion, the Company has, during documents and records in pursuance thereof, on test-check
the audit period covering the financial year ended on 31stMarch, basis and a quarterly compliance report on all applicable laws
2023, complied with the statutory provisions listed hereunder placed before MCL Board on regular basis, the Company has
and also that the Company has proper Board-processes and complied with the following laws applicable specifically to the
compliance-mechanism in place to the extent, in the manner Company:
and subject to the reporting made hereinafter:
1. The Coal Mines Act,1952
2. Indian Explosives Act, 1884
returns filed and other records maintained by the Company for
the financial year ended on 31st March, 2023, according to the 3. Colliery Control Order, 2000 and Colliery Control Rules,2004
provisions of:
4. The Coal Mines Regulations,2017
(i) The Companies Act, 2013 (the Act) and the Rules made 5. The Payment of Wages (Mines) Rules,1956
there under;
6. Coal Mines Pension Scheme,1998
(ii) The Securities Contracts (Regulation) Act, 1956 (‘SCRA’)
7. Coal Mines Conservation and Development Act,1974
and the Rules made there under;
8. The Mines Vocational Training Rules,1966
(iii) The Depositories Act, 1996 and the Regulations and Bye-
laws framed there under; 9. The Mines Crèche Rules,1961
10. The Mines Rescue Rules,1985

(iv) Foreign Exchange Management Act, 1999 and the Rules
and Regulations made there under to the extent of Foreign 11. Coal Mines Pithead Bath Rules,1946
12. Maternity Benefit (Mines and Circus) Rules,1963
Commercial Borrowings;
002-115 116-332 333-513
13. The Explosives Rules,2008 Meetings were carried out with requisite majority and
recorded in the minute book maintained for the purpose as
14. Mineral Concession Rules,1960 per the provisions of the Act.
15. Coal Mines Provident Fund and Miscellaneous Provisions (C) HOLDING OF ANNUAL GENERAL MEETING:
Act,1948
During the financial year under review, the 30th Annual
16. Mines and Minerals (Development and Regulation) Act,1957 General Meeting of the company for the FY 2021-22was
held on Dt. 25.07. 2022.
17. The Payment of Undisbursed Wages (Mines) Rules,1989
The AGM was held at a shorter notice and consent of all the
18. Indian Electricity Act, 2003 and the Indian Electricity
members of the Company were obtained as per provisions
Rules,1956
of the Act. A system exists for seeking and obtaining further
19. Environment Protection Act, 1986 and Environment information and clarifications on the agenda items before
Protection Rules,1986 the meeting and for meaningful participation at the meeting.
20. The Hazardous and Other Wastes (Management and Trans (D) MAINTENANCE OF STATUTORY REGISTERS &
boundary Movement) Rules, 2016 RECORDS:
21. The Water (Prevention & Control of Pollution)Act, 1974 and During the financial year under review, all the Statutory
Rules made there under Registers, Records and other Registers as prescribed
under various Provisions of the Companies Act, 2013; the
22. The Air (Prevention & Control of Pollution) Act,1981 Depositories Act, 1996 and the Rules made there under
were kept and maintained properly with all necessary
23. Public Liability Insurance Act, 1991 and Rules made there
entries made therein.
under.
(E) FILING OF STATUTORY FORMS & RETURNS AS
During the Audit Period, the Company has generally complied
PER COMPANIES ACT, 2013:
with the provisions of the Act, Rules, Regulations, Guidelines,
etc. mentioned above. As regards certain Corporate Governance During the financial year under review, various forms and
provisions, the Company being a Central PSU, the regulatory returns as per the provisions of the Companies Act, 2013
framework applicable to Government Companies is designed were duly filed with MCA/Registrar of Companies within the
to ensure compliances in respect of matters pertaining to prescribed time limit or in the extended time along with the
appointment, evaluation and succession of directors, quarterly/ requisite fees.
annual grading of CPSE on the compliance of DPE Corporate
Governance norms. The submission of compliance of DPE (F) COMPLIANCE WITH APPLICABLE LAWS, RULES,
guidelines on annual basis were found to have been complied REGULATIONS & GUIDELINES:
with.
During the financial year under review and explanations
provided by the Management of the Company adequate
We further report that:- systems commensurate with its size & operations exist
to monitor & ensure compliance with the applicable laws,
(A) COMPOSITION OF BOARD:
rules, regulations and guidelines. Quarterly report on
During the financial year under review, the Board of compliance of law and statutes is regularly put up to the
Directors of the Company is duly constituted subject to the Board of the Company for its review.
Observations and Qualifications specified in Annexure- B.
(G) AUDIT AND CERTIFICATION OF BOARD DECISIONS:
The changes in the Composition of the Board of Directors
that took place during the period under review were duly Decisions taken in the Board meetings are also audited on
recorded and proper procedure had been followed by the quarterly basis and certificate to this effect that decisions
company in compliance with the provisions of the Act & have been taken are within the ambit of DOP vested with
Rules there under. the Board is obtained from Practicing Company Secretary
on quarterly basis.
(B) HOLDING OF BOARD & THEIR COMMITTEE
MEETINGS: (H) DECLARATION OF DIVIDEND:
During the financial year under review, adequate notice During the financial year under review, the Company has
was circulated to all the Directors for the Board Meetings. declared & paid 1st Interim Dividend amounting to H 5000
Agenda and detailed notes on agenda were sent in crore (i.e. H 7,554.74 per equity share) on 66,18,363 no. of
advance. A system exists for seeking and obtaining further equity shares of H 1,000/- each to Coal India Ltd (CIL) (the
information and clarifications on the agenda items placed Holding Company) out of current year’s estimated profit after
before the meetings for the meaningful participation at the tax up to June 2022 in respect of Financial Year 2022-23
meetings. All decisions at the Board Meetings & Committee
The Company has declared & paid 2nd Interim Dividend provisions of DPE guidelines & Section 178 of the Companies
amounting to H 2400.00 crore (i.e. H 3,626.27 per equity Act, 2013 along with rules made there under respectively.
share)on 66,18,363 no. of equity shares of H 1,000/- each
to Coal India Ltd (CIL) (the Holding Company) out of current We further report that based on the information provided by
year’s estimated profit after tax up to September 2022 in the Company during the Audit Period and also on the review
respect of Financial Year 2022-23. of quarterly compliance reports by the concerned department
taken on record by the Board of Directors of the Company,
Company has complied with required process under in our opinion, adequate systems and processes and control
Companies Act, 2013, Rules made there under. mechanisms exist in commensurate with its size and operations,
to monitor and ensure compliance with applicable general laws,
(I) RE-CONSTITUTION OF SUB-COMMIITTEES OF rules, regulations and guidelines
MCL BOARD
We further report that as informed, the company has responded
The company has The following Statutory Committees of appropriately to notices received from various statutory/
the Board. regulatory authorities including initiating actions for corrective
measures, wherever found necessary.
i. Audit Committee
We further report that as per explanations and management
ii. Corporate Social Responsibility & Sustainability
representations obtained and relied upon by me, during the
Development (CSRSD) Sub-Committee
audit period there is no such specific events/actions having
iii. Nomination and Remuneration Sub-Committee major bearing on the Company’s affairs had taken place.
iv. Risk Management Committee (RMC)

For J.K Das And Associates
During the financial year under review, the Audit Committee Company Secretaries
and CSR&SD Sub-Committee were re-constituted and the
requirement of independent director in the Audit Committee is
not in accordance with Section 177 of the Companies Act, 2013 Sd/-
CS J.K. Das,
The scope of work and authority vested with the committees C. P. No. 4250
are as per provision of Section 177 of the Companies Act, 2013, Membership No. FCS 7268
read with the Companies (meeting of Board and its powers) Place: Kolkata UDIN: F007268E000381532
Rules, 2014, Section 135 of the Companies Act, 2013 and Date: 20th May, 2023 Peer Review Certificate No.1748/2022
002-115 116-332 333-513
‘ANNEXURE A’
To,
The Members
M/s. Mahanadi Coalfields Limited
Jagruti Vihar Burla,
Sambalpur-768020
Orissa, India
Dear Sir,
Our report of even date is to be read along with this letter.
Management’s Responsibility:
The responsibilities of the management of the Company are as under:
1. Maintenance of secretarial records is the responsibility of the management of the Company. Our responsibility is to express an
2. We have followed the audit practices and the processes as were appropriate to obtain reasonable assurance about the
correctness of the contents of the secretarial records. The verification was done on test basis to ensure that correct facts are
reflected in secretarial records. We believe that the processes and practices, we followed provide a reasonable basis for our
opinion.
3. We have not verified the correctness and appropriateness of financial records and Books of Account of the Company or
examined any books, information or statements other than Books and Papers.
4. We have not examined any other specific laws except as mentioned above.
5. Wherever required, we have obtained the Management Representation about the compliance of aforesaid Laws, Rules,
Regulations, Standards, Guidelines and happening of events etc.
6. The compliance of the provisions of corporate laws and other applicable Rules, Regulations, Guidelines, Standards etc. is the
responsibility of management. Our examination was limited to the verification of procedure on test basis.
7. The Secretarial Audit Report is neither an assurance as to the future viability of the Company nor of the efficacy or effectiveness

Company Secretaries
Sd/-
CS J.K. Das,
C. P. No. 4250
Membership No. FCS 7268
Place: Kolkata UDIN: F007268E000381532
Date: 20th May, 2023 Peer Review Certificate No.1748/2022
OBSERVATION OF SECRETARIAL AUDITOR AND MANAGEMENT EXPLANATION
SL. PROVISIONS OF THE

OBSERVATIONS MANAGEMENT EXPLANATION
No. ACT
1. As per the Provisions At the beginning of the financial year, the Reply to Sl. No. 1 & 2
of Section 149 of the total strength of the was to eight (8) with only
MCL being an unlisted wholly owned company of
Companies Act, 2013 two (2) Independent Director on the Board.
CIL, the provision of Section 149 and Section 177
& DPE guidelines the
At the end of the financial year, the total of the Companies Act, 2013 read with Rule 4 of
company shall have at
strength of the Board is seven (7) with one Companies (Appointment & Qualification) Rules,
least 1/3rd of its total
(01) Independent Directors on the Board. 2014 and Rule 6 of Companies (Meeting of Board
number of directors as
and its powers) Rules, 2014 are not applicable to it
Independent Directors. Accordingly, the composition of the Board
so far as appointment of independent Director on the
was not in compliance with the provisions of
Board of the Company and constitution of the Audit
the DPE guidelines and Section 149 of the
Committee". Hence the compliance in regard to DPE
Companies Act,2013
guidelines on "Composition of Board of Directors"
2. As per the Provisions The requirement of independent director in
stood complied. However, communication has
of Section 177 of the the Audit Committee is not in accordance
been made to Ministry filling up the vacant post of
Companies Act, 2013. with Section 177 of the Companies Act, 2013.
Independent Director in the Board.

Company Secretaries
Sd/-
CS J.K. Das,
C. P. No. 4250
Membership No. FCS 7268
Place: Kolkata UDIN: F007268E000381532
Date: 20th May, 2023 Peer Review Certificate No.1748/2022
002-115 116-332 333-513
K K Patel & Associates 508,5th Floor, Skyline Building, Sector-11.

Company Secretaries Gandhinagar 382 011.
Ph: (0) 079-35612644.
Email: cskiranpatel@gmail.com
FORM No. MR-3
[Pursuant to section 204(1) of the Companies Act, 2013 and Rule No.9 of the Companies

To,
The Members,
PO. Singrauli Colliery
Dist.Singrauli (MP)
PIN: 486889
(iii) Foreign Exchange Management Act, 1999, the rules and
We have conducted the Secretarial Audit of the compliance regulations made thereunder to the extent of Foreign Direct
of applicable Statutory Provisions and the adherence to good Investment, Overseas Direct Investment and External
corporate practices by Northern Coalfields Limited (hereinafter Commercial Borrowings; (No such action/event during
called “the Company”). Secretarial Audit was conducted in a the Audit Period).
manner that provided us a reasonable basis for evaluating the
Corporate Conducts/ Statutory Compliances and expressing (iv) The following Regulations and Guidelines prescribed under
our opinion thereon. the Securities and Exchange Board of India Act, 1992
('SEBI Act'): -
Based on our verification of the company’s books, papers, minute
books, forms and returns filed and other records maintained a) The Securities and Exchange Board of India
by the Company and also the information provided by the [Substantial Acquisition of Shares and Takeovers]
Company, its officers, agents and authorized representatives Regulations, 2011; (not applicable to the Company
during the conduct of secretarial audit, we hereby report that in during the Audit Period)
our opinion, the Company has during the audit period covering
the Financial Year ended on 31st March, 2023 complied with the b) The Securities and Exchange Board of India (Prohibition
statutory provisions listed hereunder and also that the Company of Insider Trading) Regulations, 2015;
has proper Board-processes and compliance-mechanism in
c) The Securities and Exchange Board of India (Issue of
place to the extent, in the manner and subject to the reporting
Capital and Disclosure Requirements) Regulations,
made hereinafter:
2018; (not applicable to the Company during the
We have examined the books, papers, minute books, forms and Audit Period)
returns filed and other records maintained by the Company for
d) The Securities and Exchange Board of India (Employee
the Financial Year ended on 31st March 2023 according to the
Stock Option Scheme and Employee Stock Purchase
provisions of:
Scheme) Guidelines, 1999; (not applicable to the
(i) The Companies Act, 2013 (the Act) and the rules made Company during the Audit Period)
thereunder;
e) The Securities and Exchange Board of India (Issue
(ii) The Securities Contracts (Regulation) Act, 1956 ['SCRA'] and Listing of Debt Securities) Regulations, 2008; (not
and the rules made there under; (not applicable to the applicable to the Company during the Audit Period)
Company during the Audit Period)
f) The Securities and Exchange Board of India (Registrars
(iii) The Depositories Act, 1996 and the Regulations and Bye- to an issue and Share Transfer Agents) Regulations,
laws framed there-under are complied with to the extent 1993 regarding the Companies Act and dealing with
applicable. Further, MCA vide notification dated 22nd client; (not applicable to the Company during the
January, 2019 exempted Government Companies from Audit Period)
dematerialization of shares and hence the same is not
g) The Securities and Exchange Board of India (Delisting
applicable to the Company. However, the Company has
of Equity Shares) Regulations2009; (not applicable to
voluntarily dematerialized its shares during the period
the Company during the Audit Period)
under review
h) The Securities and Exchange Board of India (Buyback 20. Water (Prevention and Control of Pollution) Act, 1974 and
of securities) Regulation, 2018; (not applicable to the Rules, 1975
Company during the Audit Period)
21. Water (Prevention and Control of Pollution) Cess Act, 1977
(v) Corporate governance guidelines issued by Department of and Rules made there under
Public Enterprises vide OM No. 18(8)/2005-GM dated 14th
May, 2010. 22. Air (Prevention and Control of Pollution) Act, 1981 and the
Air (Prevention and Control of Pollution) Rules, 1982
(vi) Secretarial Standards issued by the Institute of Company
Secretaries of India. 23. Indian Forest Act, 1957
(vii) Constitution of Board of Directors of company specified in 24. Environment Impact Assessment Notification, 2006
Ministry of Coal Letter. No. 21/35/2005-ASO(vi) dated 06th
25. Hazardous Waste Handling and Management Act, 1989
June, 2008.
26. Hazardous and other Waste (Management and Trans
We report that having regard to the compliance system
boundary Movement) Rules, 2016
prevailing in the company and on examination of the documents
and records in pursuance thereof, on test check basis, the 27. E-Waste Management Rules, 2016
company has complied with the provisions of the laws applicable
to company, in general and the following laws specifically to the 28. Bio Medical Waste (Management and Handling) Rules,
company including Environmental laws as detailed below: 1998 & 2016
1. The Mines Act, 1952: 1) The Mines Rules, 1955 & 2) Mines 29. Plastic Waste Management Rules, 2016
Vocational Training Rules, 1966
30. Construction & Demolition Waste Management Rules, 2016
2. Coal Mines Regulations, 2017
31. The Electricity Act, 2003 and Electricity Rules 2005
3. Mines and Minerals (Development and Regulation) Act,
32. Public Liability Insurance Act, 1991 and Rules made
1957
thereunder
4. Mineral (Conservation and Development) Rules, 2017
33. Indian Bureau of Mines (Senior Technical Assistant (Survey),
5. Mines Creche Rules,1966 Junior Technical Assistant (Survey) and Junior Surveyor
Recruitment Rules, 1990
6. Coal Mines Pithead Bath Rules, 1946
34. Indian Bureau of Mines (Electrical Supervisor and
7. Indian Explosives Act, 1884 & Explosives Rules, 2008 Electrician) Recruitment Rules, 1990
8. Coal Mines (Conservation and Development) Act, 1974

We further report that:
9. Mineral Concession Rules, 1960
• The Board of Directors of the Company is duly constituted
10. Colliery Control Order, 2000 and Colliery Control Rules, with proper balance of Executive Directors, Non-Executive
2004 Directors and Independent Directors except appointment
of requisite number of Non-Official Part-time/Independent
11. Payment of Wages (Mines) Rules, 1956
Directors on Board of Directors of the company in order
12. Maternity Benefit (Mines and Circus) Rules, 1963 to fulfill the composition of the Board of Directors and
Audit Committee as the vacant posts of 04 Independent
13. Payment of Undisbursed Wages (Mines) Rules, 1989 Directors is yet to be filled up by the Central Government as
per constitution of Board of Directors specified in Ministry
14. Coal Mines Provident Fund and Miscellaneous Provision of Coal Ltr. No. 21/35/2005-ASO(vi) dated 06th June, 2008
Act, 1948 read with DPE Guidelines on Corporate Governance. As on
31.03.2023, there was only one independent Director on
15. Coal Mines Pension Scheme, 1998
Board of company as One Independent Director ceased
16. Payment of Wages Act, 1936 on 13.11.2022 due to resignation and another Independent
Director ceased on 09.02.2023 due to death.
17. Coal Bearing Areas (Acquisition & Development) Act, 1957
However, as regards certain corporate governance
18. Right to fair Compensation and Transparency in Land provisions, the Company being a Central PSU, the
Acquisition, Rehabilitation and Resettlement Act, 2013 & regulatory framework applicable to Government companies
Rules, 2014 is designed to ensure compliances in respect of matters
pertaining to appointment, remuneration, evaluation and
19. Environmental Protection Act, 1986 and Environment
succession etc. of directors.
002-115 116-332 333-513
• The changes in the composition of the Board of Directors and operations of the Company to monitor and ensure
that took place during the period under review are carried compliance with applicable laws, rules, regulations and
out in compliance with the provisions of the law. guidelines.
• Adequate notice is given to all directors to schedule the Board We further report that during the audit period the Company
Meetings, agenda and detailed notes on agenda are sent at has not incurred any specific event/action that can have
least seven days in advance, except in case of exigencies and major bearing on the Company’s affairs in pursuance of
a system exists for seeking and obtaining further information the above referred laws, rules, regulations, guidelines,
and clarifications on the agenda items before the meeting and standards etc.
for meaningful participation at the meeting.
This report is to be read with our letter of even date which
• Majority decision is carried out unanimously while the is annexed as “Annexure A” and forms an integral part of
Dissenting Members’ views, if any are captured and this report.
recorded as part of the minutes.
We further report that during the period under review, For K K Patel & Associates
the Company has complied with the provisions of the Act, Company Secretaries
Rules, Regulations, Guidelines, Standards etc. mentioned
above subject to aforesaid observations.
Sd/-
We further report that there are adequate systems and Kiran Kumar Patel
processes in the Company commensurate with the size Place : Gandhinagar C.P. No.: 6352 FCS: 6384
Date : 18th Day of May, 2023 UDIN: F006384E000329597
‘ANNEXURE A’
To,
The Members,
P.O.: Singrauli Colliery
Dist.Singrauli (MP)
Pin: 486889
Our Report of even date is to be read along with this letter. 4. Wherever required, we have obtained the Management
representation about the compliances of laws, rules and
1. Maintenance of secretarial records is the responsibility of regulations and happening of events etc.
the management of the Company. Our responsibility is to
express an opinion on these secretarial records based on 5. The compliances of the provisions of Corporate and other
our audit. applicable laws, rules, regulations, standards are the
‘Responsibility’ of Management. Our examination is limited
2. We have followed the audit practices and processes as to the verification of procedures on test basis.
were appropriate to obtain reasonable assurance about
the correctness of the contents of the Secretarial records. 6. The Secretarial Audit Report is neither an assurance as to
The verification was done on the test basis to ensure that the future viability of the Company nor of the efficacy or
correct facts are reflected in secretarial records. We believe effectiveness with which the management has conducted
that the processes and practices, we followed provide the affairs of the Company.
reasonable basis for our opinion.
3. We have not verified the correctness and appropriateness For K K Patel & Associates
of financial records and Books of Accounts of the Company Secretaries
Company. We have relied upon the report of Statutory
Auditors regarding Companies Act 2013 & Rules made
thereunder relating to maintenance of Books of Accounts, Sd/-
Papers & Financial Statements of the relevant financial Kiran Kumar Patel
year, which gives true and fair view of the state of affairs of Place : Gandhinagar C.P. No.: 6352 FCS: 6384
the Company. Date : 18th Day of May, 2023 UDIN: F006384E000329597
Observation By Secretarial Auditor Management Explanation

The Board of Directors of the Company is duly constituted with proper balance of Executive It is a statement of fact.
Directors, Non-Executive Directors and Independent Directors except appointment of The appointment of Directors is done
requisite number of Non-Official Part-time/Independent Directors on Board of Directors by Ministry of Coal, Government of
of the company in order to fulfill the composition of the Board of Directors and Audit India in which the company has no
Committee as the vacant posts of 04 Independent Directors is yet to be filled up by the role. However, the representation is
Central Government as per constitution of Board of Directors specified in Ministry of Coal also made for filling up of vacancies of
Ltr. No. 21/35/2005-ASO(vi) dated 06th June, 2008 read with DPE Guidelines on Corporate Non-Official Part-time (Independent)
Governance. As on 31.03.2023, there was Only one independent Director on Board of Directors on Board of Directors of
company as One Independent Director ceased on 13.11.2022 due to resignation and another the company at the earliest.
Independent Director ceased on 09.02.2023 due to death.
002-115 116-332 333-513
R & A Associates T-202, Technopolis, 1-10-74/B Above

COMPANY SECRETARIES Ratnadeep Super Market Chikoti Gardens,
Begumpet Hyderabad-500016, India.
Tel.: +91 40-4003 2244
Email: admin@rna-cs.com | www.rna-cs.com
FORM NO. MR-3

To
The Members,
South Eastern Coalfields Limited.
Commercial Borrowings; (Not applicable to the Company
We have conducted the secretarial audit of the compliance
during the Audit Period)
of applicable statutory provisions and the adherence
to good corporate practices by SOUTH EASTERN (v) The following Regulations and Guidelines prescribed under
COALFIELDS LIMITED (A Mini Ratna PSU), having CIN: the Securities and Exchange Board of India Act, 1992
U10102CT1985GOI003161 and having registered office at (“SEBI Act”):-
Seepat Road, Bilaspur, Chhattisgarh – 495006 (Hereinafter
referred to as “Company”). Secretarial Audit was conducted in (a) The Securities and Exchange Board of India (Listing
a manner that provided us a reasonable basis for evaluating the Obligations and Disclosure Requirements) Regulations,
corporate conducts/statutory compliances and expressing our 2015;
opinion thereon.
(b) The Securities and Exchange Board of India (Prohibition of
Based on our verification of the Company’s books, papers, minute Insider Trading) Regulations, 2015;
books, forms and returns filed and other records maintained
(c) The Securities and Exchange Board of India (Substantial
by the Company which were shared with us electronically and
Acquisition of Shares and Takeovers) Regulations, 2011
also the information, confirmation, clarifications provided by the
- (Not applicable to the Company during the Audit
Company, its officers, agents and authorized representatives
Period);
during the conduct of Secretarial Audit, we hereby report that in
our opinion, the Company has, during the audit period covering (d) Securities and Exchange Board of India (Issue of Capital
the Financial Year ended on 31st March, 2023 (Hereinafter and Disclosure Requirements) Regulations, 2018 - (Not
referred to as “Audit Period”), complied with the statutory applicable to the Company during the Audit Period);
provisions listed hereunder and also that the Company has
proper Board-processes and compliance-mechanism in place (e) Securities and Exchange Board of India (Share Based
to the extent, in the manner and subject to the reporting made Employee Benefits and Sweat Equity) Regulations, 2021
hereinafter: - (Not applicable to the Company during the Audit
Period);
returns filed and other records maintained by the Company for (f) The Securities and Exchange Board of India (Issue and
the Financial Year ended on 31st March, 2023, according to the Listing of Debt Securities) Regulations, 2008 - (Not
provisions of: applicable to the Company during the Audit Period);
(i) The Companies Act, 2013 (the “Act”) and the rules made (g) The Securities and Exchange Board of India (Registrars
thereunder; to an Issue and Share Transfer Agents) Regulations, 1993
regarding the Companies Act and dealing with client - (Not
(ii) The Securities Contracts (Regulation) Act, 1956 (“SCRA”) applicable to the Company during the Audit Period);
and the rules made thereunder; (Not applicable to the
Company during the Audit Period) (h) The Securities and Exchange Board of India (Delisting of
Equity Shares) Regulations, 2021 - (Not applicable to the
(iii) The Depositories Act, 1996 and the Regulations and bye- Company during the Audit Period); and
laws framed thereunder;
(i) The Securities and Exchange Board of India (Buy-back
(iv) Foreign Exchange Management Act, 1999 and the rules of Securities) Regulations, 2018 - (Not applicable to the
and regulations made thereunder to the extent of Foreign Company during the Audit Period);
(vi) Guidelines on Corporate Governance for Central Public During the period under review the Company has complied
Sector Enterprises issued by Government of India, with the provisions of the Act, Rules, Regulations, Guidelines,
Department of Public Enterprises (“DPE”) vide their OM. Standards, etc. mentioned above subject to the following
No. 18(8)/2005-GM dated May 14, 2010 (Hereinafter to be observations:
referred as “CPSE Guidelines on Corporate Governance”)
(i) The composition of the Audit Committee is not in
(vii) The Compliances of following Specific laws as applicable to accordance with the Para 4.1.1 of Guidelines on Corporate
Governance for Central Public Sector Enterprises issued
South Eastern Coalfields Limited are the responsibility of
by Government of India, Department of Public Enterprises
the management of the Company. Our Report is based on
vide their OM. No. 18(8)/2005-GM dated May 14, 2010.
the Compliance Certificate provided by the management
and/or its officials:
We further report that,
a. The Mines Act, 1952
(A) COMPOSITION OF THE BOARD
b. Explosives Act, 1884
The Board of Directors of the Company is duly constituted
c. Colliery Control Order, 2000 and Colliery Control Rules,
with proper balance of Executive Directors, Non-Executive
2004
Directors and Independent Directors. The changes in the
d. The Coal Mines Regulations, 2017 composition of the Board of Directors that took place during
the period under review were carried out in compliance with
e. The Payment of Wages (Mines) Rules, 1956
the CPSE Guidelines on Corporate Governance and the
f. Coal Mines Pension Scheme, 1998 Act. In terms of Articles of Association of the Company all
g. Coal Mines Conservation and Development Act, 1974 appointments to the Board are made by Government of India.
h. The Mines Vocational Training Rules, 1966 (B) MEETINGS OF THE BOARD
i. The Mines Creche Rules, 1961 Adequate notice is given to all directors to schedule the
j. The Mines Rescue Rules, 1985 Board Meetings. Agenda and detailed notes on agenda
were sent at least seven days in advance, and a system
k. Coal Mines Pithead Bath Rules, 1946 exists for seeking and obtaining further information and
l. Maternity Benefit (Mines and Circus) Rules, 1963 clarifications on the agenda items before the meeting and
for meaningful participation at the meeting.
m. The Explosives Rules, 2008
n. Mineral Concession Rules, 1960 Majority decision is carried through, while the dissenting
Board members’ views, if any, are captured and recorded
o. Coal Mines Provident Fund and Miscellaneous
as part of the minutes.
Provisions Act, 1948
p. Mines and Minerals (Development and Regulation) Act, (C) SYSTEMS AND PROCESSES FOR COMPLIANCE
1957 WITH APPLICABLE LAWS, RULES, REGULATIONS
AND GUIDELINES
q. The Payment of Undisbursed Wages (Mines) Rules,
1989 We further report that there are adequate systems and
processes in the Company commensurate with the size and
r. Indian Electricity Act, 2003 and the Indian Electricity
operations of the Company to monitor and ensure compliance
Rules, 1956
with applicable laws, rules, regulations and guidelines.
s. Environment Protection Act, 1986 and Environment
Protection Rules, 1986 We further report that during the audit period the Company
has no specific events /actions having a major bearing on the
t. The Hazardous and Other Wastes (Management and Company’s affairs in pursuance of the above referred laws,
Transboundary Movement) Rules, 2016 rules, regulations, guidelines, standards, etc. referred to above.
u. The Water (Prevention & Control of Pollution) Act, 1974
Note: This report is to be read with our letter of even date,
and Rules made thereunder which is annexed as “Annexure – A” and forms an integral
v. The Air (Prevention & Control of Pollution) Act, 1981 part of this report.
w. Public Liability Insurance Act, 1991 and Rules made
thereunder. For R&A Associates
Company Secretaries
We have also examined compliance with the applicable clauses
(Peer Reviewed)
of the following:
(a) Secretarial Standards issued by The Institute of Company Sd/-

Secretaries of India. (R. Ramakrishna Gupta)
Senior Partner
(b) The Listing Agreements entered into by the Company with FCS No.: 5523
Stock Exchanges (Not applicable to the Company during Date: 04th July, 2023 C P No.: 6696
the Audit Period). Place: Hyderabad ICSI UDIN: F005523E000539672
002-115 116-332 333-513
‘ANNEXURE A’
To,
The Members
Seepat Road, Bilaspur, Chhattisgarh-495006.
Our report of even date is to be read along with this letter:
1. Maintenance of secretarial records is the responsibility of the management South Eastern Coalfields Limited (hereinafter
referred to as “the Company”). Our responsibility is to express an opinion on these secretarial records based on our audit.
2. We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness
of the contents of the Secretarial records. The verification was done on test basis to ensure that correct facts are reflected in
3. We have not verified the correctness and appropriateness of financial records and Books of Accounts of the Company.
4. Wherever required, we have obtained the Management representation about the compliance of laws, rules and regulations and
5. The compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the responsibility of
management. Our report is based on the complicate certificate provided by the Management.
6. The Secretarial Audit report is neither an assurance as to the future viability of the company nor of the efficacy or effectiveness
with which the management has conducted the affairs of the company.
7. The Board Meeting held on 25th July, 2022 was called at shorter notice. As required under section 173(3) of the Companies
Act, 2013, no Independent Director attended the said Meeting, nor the decisions taken there at were ratified by the Independent
Directors. However, the same were ratified by the Members in the Extra-Ordinary General Meeting held on 10th January, 2023.
For R&A Associates

Company Secretaries
(Peer Reviewed)
Sd/-
(R. Ramakrishna Gupta)
Senior Partner
FCS No.: 5523
Date: 04th July, 2023 C P No.: 6696
Place: Hyderabad ICSI UDIN: F005523E000539672
SL.
Observations Management Explanation
No.
1. The composition of the Audit Committee During the Audit period. the composition of Audit Committee is not as per Para
is not in accordance with the Para 4.1.1 of 4.1.1 of DPE Guidelines on Corporate Governance. This is due to the fact that
Guidelines on Corporate Governance for out of the requirement of 04 (four) Nos. of Independent Directors, there were only
Central Public Sector Enterprises issued 02 (two) Nos. of Independent Directors on the Board of SECL for most part of the
by Government of India, Department of year i.e., from 25.07.2022 up to 28.02.2023. Further, at present also, there are
Public Enterprises vide their OM. No. only 02 (two) Nos. of Independent Directors on the Board and appointment of
18(8)/2005- GM dated May 14, 2010. 02 (two) more Independent Directors is still awaited from Ministry of Coal (MoC).
Ramanuj Asawa
#205, 2nd Floor, “HIMALAYA ENCLAVE”
B.Com., F.C.S.
1, SHIVAJINAGAR, GANDHINAGAR SQUARE,
Company Secretary
OPP. LAD COLLEGE, NORTH AMBAZARI ROAD, NAGPUR 440010.
Cell: 9423880361, 9422095636, 9422803662
Ph. No. 0712-2221217
e-mail: asawaramanuj@gmail.com
ramanuj.asawa@gmail.com
FORM NO. MR-3

For the Financial Year ended 31st March 2023
To,
The Members,
M/s Western Coalfields Limited
Coal Estate
Nagpur– 440001.
We have conducted the Secretarial Audit of the compliance Direct Investment, Overseas Direct Investment and External
of applicable Statutory Provisions and the adherence to good Commercial Borrowings:
corporate practices by Western Coalfields Limited, a Miniratna
Cat-I, PSU (hereinafter called the “Company”). Secretarial Audit (Not applicable to the Company during the Audit
was conducted in a manner that provided us a reasonable basis Period);
for evaluating the corporate conduct/statutory compliances and
(v) The following Regulations and Guidelines prescribed under
expressing our opinion thereon.
the Securities and Exchange Board of India Act, 1992:
Based on our verification of the Company's books, papers,
a) The Securities and Exchange Board of India (Listing
minute books, forms and returns filed and other records
Obligation & Disclosure Requirements) Regulations,
maintained by the Company and also the information
2015: (Not applicable to the Company during the
provided by the Company, its officers, agents and authorized
Audit Period);
representatives during the conduct of secretarial audit, We
hereby report that in our opinion, the Company has during the b) The Securities and Exchange Board of India (Prohibition
audit period covering the financial year ended on 31st March of Insider Trading) Regulations, 2015:
2023 (“Audit Period”), complied with the statutory provisions
listed hereunder and also that the Company has proper Board- (vi) Corporate Governance guidelines for Central Public
processes and compliance-mechanism in place to the extent, in Sector Enterprises (CPSEs)issued by Department of Public
the manner and subject to the reporting made hereinafter: Enterprises (DPE), Govt. of India;
We have examined the books, papers, minute books, forms and We further report that, having regard to the compliance system
returns filed and other records maintained by the Company for prevailing in the Company and on examination of the relevant
the financial year ended on 31st March 2022 according to the documents and records in pursuance thereof, on test check
provisions of: basis, the Company has complied with the laws specifically
applicable to the company as identified and confirmed by
(i) The Companies Act, 2013 (the “Act”) and the rules made Management as follows:
there under;
1. The Mines Act, 1952&the Mines Rules, 1955;
(ii) The Securities Contracts (Regulation) Act, 1956 (‘SCRA’)
2. Indian Explosive Act, 1884;
and the rules made there under:
3. The Explosive Rules, 2008;
(Not applicable to the Company during the Audit 4. Colliery Control Order, 2000 and Colliery Control Rules,
Period); 2004;
(iii) The Depositories Act, 1996 and the Regulations and Bye- 5. The Coal Mines Regulations, 2017;
laws framed there under; 6. The Payment of Wages (Mines) Rules, 1956;
7. Coal Mines Pension Scheme, 1998;
(iv) Foreign Exchange Management Act, 1999 and the Rules
and Regulations made there under to the extent of Foreign 8. Coal Mines Conservation and Development Act, 1974;
002-115 116-332 333-513
9. The Mines Vocational Training Rules, 1966; We have also examined compliance with the applicable clauses
10. The Mines Creche Rules, 1966; of the following:
11. The Mines Rescue Rules, 1985; • Secretarial Standard-1 and Secretarial Standard-2, with
12. Coal Mines Pithead Bath Rules, 1959; respect to Board and General Meetings respectively, issued
13. Maternity Benefit (Mines and Circus) Rules, 1963; by The Institute of Company Secretaries of India.
14. Mineral Concession Rules, 1960; During the audit period under report, the Company has complied
15. Coal Mines Provident Fund and Miscellaneous Provisions with the provisions of the Acts, Rules, Regulations, Guidelines,
Act, 1948; Secretarial Standards, etc. mentioned above& applicable to the
16. Mines and Minerals (Development and Regulation) Act, Company subject to our Observations specified as below in
1957; “Composition of the Board”.
17. Mines and Minerals Conservation and Development Rules,

2017; We further report that:
18. The payment of Undisbursed Wages (Mines) Rules, 1989;
COMPOSITION OF THE BOARD
19. Indian Electricity Act, 2003 and the Indian Electricity Rules,
1956; The Board of Directors of the Company (Board) is duly
20. Environmental Protection Act, 1986 and Environment constituted with proper balance of Executive Directors,
Protection Rules, 1986; Non-Executive Directors and Independent Directors except
appointment of a Woman Director on the Board of the
21. The Hazardous and other Wastes (Management and
Company as per Second Proviso to Section 149 (1) of the
Transboundary Movement) Rules, 2016;
Companies Act, 2013.
22. The Water (Prevention & Control of Pollution) Act, 1974 and
Rules made there under; It was explained by the company that consequent upon
23. The Air (Prevention & Control of Pollution) Act, 1981; completion of term of appointment, Dr. Darshana C Deshmukh
retired on 24.07.2022, fresh appointment of Woman Director is
24. The Coal Bearing Areas (Acquisition & Development) Act,
awaited from the Govt. of India. The changes in the composition
1957;
of the Board that took place during the audit period under report
25. Land Acquisition Act, 1894; were carried out in compliance with the provisions of the Act
26. Forest Conservation Act, 1980; and duly recorded at the respective Board Meeting.
27. Right to fair Compensation and Transparency in Land
APPOINTMENT OF KMP
Acquisition, Rehabilitation and Resettlement Act, 2013 &
Rules, 2014; During the audit period under report, Shri Rameher has
28. The Indian Forest Act, 1957; relinquished the charge of Company Secretary on completion of
29. Environment Impact Assessment Notification, 2006; his term of appointment on 06.10.2022 and Smt. Ritu Varshney
appointed as Company Secretary w.e.f. 07thOctober, 2022 by
30. Indian Bureau of Mines (Electrical Supervisor and
the Board in its 345th meeting held on 19thSeptember, 2022.
Electrician) Recruitment Rules, 1990;
31. The Apprentices Act, 1961; HOLDING OF BOARD AND COMMITTEES MEETINGS
32. The Sexual Harassment of Women at workplace (Prevention,
During the audit period under report, adequate notices were
Prohibition and Redressed) Act, 2013;
given to all directors to schedule the Board Meetings, agenda
33. The payment of Gratuity Act, 1972; and detailed notes on agenda were sent in advance, and a
34. Payment of Bonus Act, 1965; system exists for seeking and obtaining further information and
35. The Industrial Dispute Act, 1947; clarifications on the agenda items before the meeting and for
meaningful participation at the meeting.
36. The Industrial Employment (Standing Orders) Act, 1946;
37. The Factories Act, 1948; All decisions at the Board and Committees Meetings are carried
38. Maternity Benefit Act, 1961; out unanimously.
39. The Employee Compensation Act, 1923; HOLDING OF ANNUAL GENERAL MEETING
40. The Payment of Wages Act, 1936;
During the audit period under report, the 47thAnnual General
41. The Minimum Wages Act,1948;
Meeting of the company was held on 25th July, 2022 at a shorter
42. Equal Remuneration Act, 1976; notice. Consent of all the members of the Company were
43. The Contract Labour (Regulation and Abolition) Act, 1970. obtained as per the provisions of the Act.
MAINTENANCE OF STATUTORY REGISTERS & to monitor & ensure compliance with the applicable laws, rules,
RECORDS regulations and guidelines. Quarterly reports on compliance of
law and statutes is regularly put up to the Board for its review.
During the audit period under report, all the Statutory Registers
and Records as prescribed under various Provisions of the Act& COMPLIANCE OF DPE GUIDELINES
Rules made there under were kept and maintained properly with
all necessary entries made therein. During the audit period under report, the company has complied
with the applicable guidelines for the Corporate Governance for
FILING OF STATUTORY FORMS & RETURNS CPSEs issued by DPE.
During the audit period under report, various forms and returns We further report that during the audit period, the company
as per the provisions of the Act were duly filed with MCA/ has not incurred any specific events / actions that have a major
Registrar of Companies within the prescribed time limit along bearing on the company’s affairs in pursuance of the above
with the requisite fees. referred laws, rules, regulations, guidelines, standards etc.
AUDIT AND CERTIFICATION OF BOARD DECISIONS
Decisions taken in the Board meetings are audited on quarterly

basis and certificates to the effect that decisions taken areas
per the agenda circulated, within the ambit of Delegation of Sd/-
Power (DOP) vested with the Board and minutes are prepared RAMANUJ ASAWA
as per Secretarial Standards and other rules & regulations were (Company Secretary)
obtained from Practicing Company Secretary. F.C.S. No. 3107
Place: Nagpur C. P. No. 1872
MANAGEMENT REPORTING ON COMPLIANCE
Date: 12/06/2023 ICSI UDIN:F00310E000478153
WITH APPLICABLE LAWS, RULES, REGULATIONS &
GUIDELINES
Note: This report is to be read with our letters of even date
During the audit period under report, there are adequate annexed as ‘Annexure-A’ which forms an integral part of this
systems commensurate with size &operations of the Company report.
002-115 116-332 333-513
Annexure-A
To,
The Members,
M/s Western Coalfields Limited
Coal Estate
Nagpur-440001.
Our report of even date is to be read with this letter:
a. Maintenance of secretarial records is the responsibility of the management of the Company. Our responsibility is to express an
b. We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness
of the contents of Secretarial records. The verification was done on test basis to ensure that correct facts are reflected in
c. We have not verified the correctness and appropriateness of financial records and Books of Accounts of the Company. We have
relied upon the report of Statutory Auditor regarding Companies Act, 2013 & Rules made thereunder relating to maintenance of
Books of Accounts, papers & financial statements of the relevant financial year, which give true and fair view of the affairs of the
Company.
d. Wherever required, we have obtained Management Representation about the compliance, laws, rules & regulations and
e. The compliance of the provisions of corporate and other applicable laws, rules, regulations, standards is the responsibility of
management. Our examination was limited to the verification of procedures on test basis.
f. The Secretarial Audit Report is neither an assurance as to the future viability of the Company nor of the efficacy or effectiveness
Sd/-
RAMANUJ ASAWA
(Company Secretary)
F.C.S. No. 3107
Place: Nagpur C. P. No. 1872
Date: 12/06/2023 ICSI UDIN:F00310E000478153
Observation of Secretarial Auditor & Management Explanation

Sl Observations of Secretarial Auditor Management Explanation
1 The Board of Directors of the Company (Board) is duly constituted with consequent upon completion of term of
proper balance of Executive Directors, Non-Executive Directors and appointment, Dr. Darshana C Deshmukh retired
Independent Directors except appointment of a Woman Director on the on 24.07.2022, fresh appointment of Woman
Board of the Company as per Second Proviso to Section 149 (1) of the Director is awaited from the Govt. of India.
Companies Act, 2013
ANNEXURE 19
Foreign Exchange Earning and outgo under Rule 8 of Companies (Accounts)

Rules, 2014
COAL INDIA LIMITED (STANDALONE)
Expenditure / Earnings in Foreign exchange

[H in crore]
Particulars FY 2022-23 FY 2021-22
Outflows
i) Travelling Expenses 0.81 Nil
ii) Training Expenses Nil Nil
iii) Others Nil 0.12
Earnings Nil Nil
COAL INDIA LIMITED (CONSOLIDATED)
Expenditure / Earnings in Foreign exchange

[H in crore]
Particulars FY 2022-23 FY 2021-22
Outflows
i) Travelling Expenses 1.04 Nil
ii) Training Expenses Nil Nil
iii) Consultancy charges Nil Nil
iv) Interest 0.04 0.05
v) Others 422.03 784.34
Earnings 9.41 Nil
002-115 116-332 333-513
ANNEXURE 20
Details about Technology Absorption and Research & Development (R&D) of

the Company
1. Specific area in which R&D carried out buildings. The total installed capacity of the plant
is 190 kW. This project reduces carbon footprint &
Govt. of India through its Coal Science & Technology (S&T) maximizes renewable energy system.
Plan and Coal India Limited (CIL) through its R&D Board
have been promoting R&D activities in Coal & Lignite • Under techno-economic efficacy for ANFO explosive,
Sectors for improvement of production & productivity from with low density, porous, thermally stabilised, Prilled
underground mining and opencast mining, improvement Ammonium Nitrate in CIL mines, vis-à-vis other
of safety, health & environment, creation of wealth from conventional explosives in terms of Powder Factor
waste , alternative use of coal and clean coal technologies, (PF), post blast analysis etc. has been established.
coal beneficiation & utilization, exploration, innovation From the above study, it was found that fragmentation
and indigenisation (under Make in India concept) and allied using ANFO is better and cost effective in comparison
fields. Substantial funds are being earmarked annually by to other explosives in dry condition.
Ministry of Coal and CIL R&D Board to carry out research
• Under project “Requirement of air in mine for Mass
work on the above subjects.
Production Technology’ complete ventilation studies
were conducted in Continuous Miner operated mines
2. Benefits derived from R&D activities in coal and Longwall mines and based on analysis a norms
and lignite sectors relating to minimum air quantity framed in CM panels,
as it is not practicable to provide stipulated air quantity
• Notable advances have been made through R&D
at the Last Ventilation Connection (LVC) in mass
efforts in coal exploration techniques
production panels as per Regulation 153 {2(a)} of
• Introduction of mining methods like “blasting gallery CMR-2017.
and cable bolting” for recovery of coal in thick seams
• Design of cost effective process flowsheet for improved
and shortwall mining at SECL.
washing efficiency of Indian coking and Non-coking
• “Controlled blasting” for removal of overburden rocks coals. For coking coals of W-IV, W-V and W-VI based
and coal in opencast mines as close as to 50m from on the proposed flow sheets, (Jigging for -4.0+0.50mm
surface structures successfully. coarse coal and Flotation and Water-Only Cyclones for
-0.50 fine coal) it is possible to reduce the ash up to
• Rock Mass Rating (RMR) developed under R&D is 32% to 33%. Therefore, the coals already declared as
now being used for designing support in underground coking coals can be gainfully utilised by blending with
mines. superior low-ash coals.
• Applying new technique using Airborne Laser Terrain • Development of guidelines for design of all tiers of
Mapper and ground based Terrestrial Laser Scanner shovel-dumper dump above dragline dump, with
(TLS) for OB measurement. delineation of phreatic surface, within dragline dump
throughout the year and validation study on two
• To ensure the safety and to protect loss of equipment
dragline mines of Coal India Limited (CIL). Based on
in opencast mines, Dumper Collision Avoidance
the study, a general guideline has been developed
System (DCAS) has been developed indigenously and
relating to maximum height, slope of dragline and
was successfully undertaken at KDH opencast mine of
shovel dumper dump.
Central Coalfields Limited (CCL).
• Under the project “Restoration of Orchid flora of
• Self-advancing goaf edge (mobile) chock type supports
Makum Coalfield areas of Digboi Forest Division”,
have been indigenously developed and their field trial
fifteen hundred seedlings are multiplied and planted
conducted successfully at Bastacola mine of BCCL [in
in re-vegetated mined out sites, nearby forest site
coal roof] and RK-7 mine of SCCL [shale/ sand stone
and RFRI botanical garden with exhaustive care.
roof].
Conservation and maintenance of orchid species were
• Introduction of modern technique like Ground done at RFRI botanical garden and Tikak Colliery.
Penetrating Radar for detection of old unapproachable
• Bench Scale Study on reducing ash content (mineral
water logged workings.
matter) from Washery Grade Coking coal and high
• The solar photovoltaic plant has been erected and ash non-coking coal through oil agglomeration.
commissioned on the roof tops of CMPDI office Coal-Oil Agglomeration unit fabricated, installed and
commissioned at NML laboratory, Jamshedpur using ix. Development of a methodology for regional air quality
three types of oils i.e. sunflower oil, castor oil and pine monitoring in coalfield area using satellite data and
oil for reducing the ash content of coal. Coking coal ground observations.
with sunflower oil shows encouraging results (Topa
Coal: Ash %age reduced to 9% from 21% with 84%
4. On-going R&D projects under implementation:
yield, Rajrappa Coal: Ash %age reduced to 20% from
34% with 80% yield). (Details have been incorporated in as Annexure-A in
MDAR Report)
• Development of Guidelines for Increasing the Height of
Overburden Dumps at Opencast Coal Mines in India.
Design and developed a Large-Scale Direct Shear 5. Expenditure on Research & Development
Testing Machine at CMPDI for testing of representative (R&D) (including S&T of MoC):
OB dump samples from Opencast Coal mines. Steeper
Expenditure incurred during last 5 years (2018-19 to 2022-
bench angles up to 40° and external dump height up
23) on research projects are as follows:
to 120m can be considered safe based on the strength
(J in crore)
properties of OB material, in comparison to present
Coal Mine Regulation 2017 which limits the individual Total R&D
Year
bench angle to 37.5° and external dump heights up to Expenditure
90m. 2018-19 37.80
2019-20 39.27
• Capacity Building for extraction of CMM Resource 2020-21 22.26
within CIL Command Areas (CMPDI & CSIRO, 2021-22 38.74
Australia). CMPDI has developed a State-of-Art 2022-23 74.86
Laboratory facility for understanding of CBM/CMM Total 212.93
resources in India to assist in unconventional gas
resources extraction. Project outcome will be helpful 6. Research & Development:
in development of CBM/CMM in CIL & other leasehold
areas. CMPDIL is the nodal agency for coordination and
monitoring of S&T projects in coal sector as well as R&D
projects of CIL.
3. Following nine research projects have been
completed during the year 2022-23:
7. Technology Absorption:
i. Capacity Building for extraction of CMM Resource
within CIL Command Areas. CIL has taken many technological initiatives in various
fields across its total operational activities.
ii. Development of Coal Quality Exploration Technique
based on Convolutional Neural Network and • In underground mining, Mass Production Technology
Hyperspectral Images. has been introduced in quite a number of mines.
Continuous Miner Technology (26 nos.) has been
iii. Modelling and design of indirect coal gasification introduced in 18 mines of CIL so far, which are under
reactor for high-ash Indian coals. operation. Long-wall mining are in operation at
Moonidih UG of BCCL and Jhanjra UG of ECL.
iv. Design and Stability of Pillars/Arrays of Pillars for
Different Mining Methods in Coal Mine Workings • Free Steered Vehicles for transportation of men and
materials in underground have been introduced in
v. Development of Guidelines for Increasing the Height of
Jhanjra & Kotadih U/G mines of ECL and Churi U/G
Overburden Dumps at Opencast Coal Mines in India
mine of CCL.
vi. Bench Scale Study on reducing ash content (mineral
• In 52 Man Riding Systems (MRS) are in operation in
matter) from Washery Grade Coking coal and high ash
41 UG mines of CIL and 3 MRS are under installation.
non-coking coal through oil agglomeration.
Man Riding Schemes for another 12 underground
vii. Development and adoption of Real-Time Prognosis mines of CIL have been prepared.
System (RTPS) for cost effective safe operation of
• For a few underground mines proposed with mass
mobile machinery: show-cased demonstration of
production technology, trackless transport system
dumper fleet.
has been proposed for men and material. Three
viii. To develop an Artificial Intelligence (AI) based machine Free-steered vehicles (diesel operated) in Jhanjra
learning solutions to enable prediction of occurrence underground mine and two Free-steered vehicles
of fire in Open cast mines extracting locked coal pillars (battery operated) in Khottadih underground mine are
with safety. presently in operation in ECL.
002-115 116-332 333-513
• Two sets of Highwall miners are in operation in Sharda • CMPDI has recently introduced 2D/3D seismic survey
mine of SECL having total capacity of 0.85 Mty. LOA on wide scale for coal exploration work using state
has been issued for 4 Highwall miner projects of CIL of art seismograph and modern seismic sources (like
with total capacity of about 2.0 Mty. vibrator/ explosive etc) along with optimised drilling
work as per terms of ISP, 2022.
• The latest version of Geovia Minex, Data Mine,
Vulcan, Carlson software for mine planning have been • CMPDI is using state of art Paradigm software
introduced. This provides best resource planning along with in-house developed software “SPE” for
through pit design, pit optimization, scheduling of processing and interpretation of seismic data, which
resources and dumps, etc. Also, Geo-technical generates better structural information of sub-surface
software/tools from Rocscience Inc. for analysing rock by imagining technology.
and soil slopes stability has been procured.
• Numerical modelling software (FLAC 3D) was procured
• Commissioning of the Large Direct Shear Machine / upgraded under R & D project is being regularly used
(Largest in India) with 2500 kN Normal Shear for scientific studies involving strata control. VENTSIM
Load Capacity through R & D Project (Designed in software for ventilation planning in UG mines has been
collaboration with IIT Delhi) and establishment of a introduced. In-house job/skill has been created by the
Geotechnical Lab. use of above software.
• 40 numbers of departmental Surface Miners are in • CMPDI is Principal Implementing Agency (PIA) for
operation in several opencast mines of CIL to eliminate the development of CBM in CIL leasehold areas I.e.
drilling and blasting and also for facilitating selective BCCL, ECL & SECL. One CBM Block namely Jharia
mining. CBM Block-I (BCCL leasehold area) has been awarded
to M/s Prabha Energy Private Limited for extraction of
• A study on use of Vibro Ripper in opencast mines CBM on revenue sharing basis.
has been done recently. From this study it has been
that Vibro Ripper is suitable at places where drilling & • CMPDI is also Principal Implementing Agency (PIA) for
blasting is not permitted / desired due to environmental, the coal gasification projects at CIL and its subsidiaries
safety or other reasons. Presently they are deployed in
Kaniha & Hingula mines in MCL and Gevra in SECL. Initially following coal gasification projects have been
undertaken:
• GPS/ GPRS based Vehicle Tracking System [VTS] in
coal transporting vehicles have been introduced to • SECL (Mahamaya ) SCG Project : South Eastern
prevent theft and pilferage of coal. Coalfields Limited (SECL) planned to establish
Coal to Ammonia Plant at Mahamaya, Chhattisgarh
• RFID, CCTV & Boom Barrier based Weight Monitoring with the capacity of 2200 MTPD for utilizing Coal
and Control System has been introduced. It has ensured as a basic raw material for the production of
Real Time transmission of coal weighment data to the Ammonia. MoU has been executed between CIL
Central Server. This has enhanced transparency in the and IOCL for coal-to-DME gasification project at
system as well as helped reducing theft of coal during SECL on 12.10.2022. Work order has been issued
transit. to PDIL on 24.11.2022 for preparation of PFR for
setting up of Coal –to-DME plant in SECL on LSTK
• Operator Independence Truck Dispatch mode of implementation.
System(OITDS)- Automatic allocation of dumpers
to shovels to reduce cycle time and cost instead of • ECL (Shilpanchal Pariyojana) SCG Project: Eastern
presently just tracking of vehicles in most of the Coalfields Limited (ECL) planned for setting up a
mines along with Real Time Vehicle Health Monitoring grass root Coal to Methanol Plant at Bahadurpur
System, VIMS and Fuel Management System (FMS) - Raniganj, West Bardhaman (W.B.) with the
are being used. capacity of 2000 MTPD for utilizing Coal as a
basic raw material for the production of Methanol.
• Fixed type Automatic sprinkler system for dust Tender for selection of BOO processor has been
suppression in Open Cast mines- Continuous floated on 31st January, 2022. Bid opened on 5th
monitoring of pump drive namely Start, Stop, Trip etc. May 2022 and no Bid has been received. MoU
is introduced through R&D efforts. with GAIL has been signed on 12th October,2022
(CIL-GAIL JV: Coal-to-SNG at ECL). Work order
• Hydrostatic drills with PCD bits for enhancing the
has been issued to PDIL on 24.11.2022 for
productivity of exploratory drills have been introduced.
preparation of PFR for setting up of Coal –to-SNG
plant in ECL on LSTK mode of implementation.
• WCL(Utkarsh SCG Project: Western Coalfields 9. Details of efforts on imported technology:

Limited (WCL) planned to establish a Coal-
to-Ammonium-nitrate (Melt) Plant at Juna Coal India has envisaged foreign collaboration with a
Kunada Opencast Mine and Chargaon OC Mine view to:
(abandoned pits) of Majri Area, WCL of Maharashtra
• Bring in proven and advanced technologies and
with the capacity of 2000 MTPD for utilizing Coal
management skills for exploiting maximum resources
as a basic raw material for the production of
from UG and OC mines, coal preparation, coal
Ammonium Nitrate. Tender for selection of BOO
exploration and other activities.
processor for WCL coal gasiﬁcation project has
been floated on 3rd Aug, 2022. No bid received. • Exploration and exploitation of Methane from Coal
Tender for selection of BOO processor for WCL bed, abandoned mine, ventilation air, shale gas, coal
SCG project has been floated on 06th March 2023. gasification, etc.
Bid opening date is 14th September,2023. A pre-
bid meeting with prospective bidders was held on • India aims to gassify 100 MT coal by 2030. In pursuance
27th March, 2023 at EIL, Delhi. to above, tenders for mines of ECL, SECL and WCL
have been floated. Foreign companies may participate
in the above tenders.
8. Benefits derived out of technological
initiatives undertaken: The priority areas included acquisition of latest and
high productive underground mining / opencast mining
Most optimum sizes of HEMMs are being provisioned
technologies, improvement in working in underground
for opencast projects which are at par with the World
in difficult geological conditions.
technology. To achieve the high production target from
large opencast mines, deployment of Electric Rope (ER) Emphasis is also being made for diversification of
shovels of 42 Cum and dump trucks of 240 T were made R&D initiatives by taking up new projects in the field
during the past years, which are highest in sizes proposed of environmental sustainability, energy management &
in India so far. Using surface miners eliminates drilling and digitization, thin coal technologies, reduction of carbon
blasting operations in the opencast projects and as such, emission, renewable energy, use of AI & IoT, waste to
the problem of working very near to inhabited areas has wealth creation, deployment of new techniques in
been sorted out due to elimination of blasting vibrations. exploration etc.
Moreover, because of possible selective mining, the
chances of contamination of produced coal with extraneous
materials has also been minimised.
002-115 116-332 333-513
ANNEXURE 21
Disclosures as per Section 135 of Companies Act 2013 on Corporate Social

Responsibility.
1. Brief outline of CSR policy of the Company e. H 1 crore were utilised towards the purchase of a
digital mammography machine at Tata Medical
CSR policy of CIL has been framed after incorporating the Centre, Kolkata which is a prominent cancer
features of the Companies Act 2013 including amendments hospital catering to patients from Eastern and
to it and notifications issued by Ministry of Corporate Affairs North Eastern India.
(MCA) and Department of Public Enterprises (DPE), Govt.
of India from time to time. f. H 63 lakhs were utilised for food distribution to
needy persons in Assam’s flood affected areas.
Budget for CSR activities of CIL is allocated based on 2% of
average net Profit of CIL (standalone) for three immediately g. H 78.28 lakhs were utilised for commissioning of
preceding financial years or H 2.00 per tonne of total coal a Sewage Treatment Plant using green, opex-
production of immediate preceding financial year of those optimizing soil bio technology at Mayapur, West
subsidiaries of CIL which had not incurred net loss in the Bengal.
immediately preceding financial year, whichever is higher.
2. Item – II of Schedule VII – Education &
CIL (HQ) undertakes CSR activities in whole of India Livelihood
including the areas covered by subsidiaries. CSR activities
are undertaken in the themes specified in Schedule VII of a. H 1.05 crore were utilized for construction of a
Companies Act 2013. hostel facility at Vidya Bharti School, Govindnagar,
Hoshangabad, Madhya Pradesh.
CSR policy of CIL also contains broad guidelines regarding
implementation, monitoring and reporting of CSR activities. b. H 1.84 crore were utilised for construction of
The policy is governed by provisions under Companies Act, additional building for capacity augmentation of
2013 or any other act that may be introduced, Government Bhakti Vedanta National School, Mayapur, West
guidelines and any other govt. instructions applicable from Bengal.
time to time.
c. H 1.39 crore were utilised for construction of 1st
Major CSR projects undertaken in FY 2022-23 are as and 2nd floors of hostel building for upcoming
follows: residential school at Joka, Kolkata with a capacity
of 1,000 underprivileged/tribal students.
1. Item – I of Schedule VII – Healthcare, Sanitation
& Nutrition d. Over 300 surveyed off computers have been
repaired and distributed to different charitable/
a. The second phase of CIL’s flagship project govt. schools to enable digital literacy in these
Thalassemia Bal Sewa Yojana (TBSY) concluded schools.
in FY 2022-23 with a total CSR fund utilization
of H 9.40 cr. during the year on cure and better e. H 83 lakhs were utilised for construction of a
management of Thalassemia and Aplastic anemia natural fiber diversified product training centre for
of eligible patients. One more hospital was women at Murshidabad, West Bengal.
empaneled under the scheme to increase the
3. Item – IV of Schedule VII – Environmental
coverage of the scheme.
Sustainability
b. An amount of H 4.00 crore have been utilized
a. An amount of H 1.40 crore was utilised as a
on construction of 7th Floor of National Cancer
contribution to Wildlife Institute of India (WII),
Hospital, Nagpur.
Dehradun for solving bio-diversity challenges
c. An amount of H 2.78 crore was utilized for setting through innovative solutions based on rigorous
up of three oxygen plants in three govt. hospitals scientific knowledge.
of West Bengal.
4. Item X of Schedule VII – Rural Development
d. CIL supported procurement of gym equipment in
a. An amount of H 2.28 crore was utilised for
38 Gram Panchayats in Mandi district of Himachal
construction of a border road in Chamoli,
Pradesh for promotion of physical health. An
Uttarakhand.
amount of H 1.16 crore was utilised for this project.
5. Other items of Schedule VII
a. H 28.24 lakhs were utilised for ‘Bharat Ke Kaladharmi’ project for supporting livelihoods of performing artists affected
by COVID-19.
b. H 10.67 lakhs were utilised for legal marriages and skill training of tribal women living in 'Dhuku' tradition in Khunti,
Jharkhand.
2. Composition of CSR Committee
Number of
Number of
meetings of
Sl. meetings of CSR
Name of Director Designation/Nature of Directorship CSR committee
No. committee held
attended during
during the year
the year
1 Shri B. Rajeshchander Independent Director and Chairman of 5
the committee
2 Shri Poonambhai Kalabhai Independent Director 5
Makwana 5
3 Smt. Nirupama Kotru Government Nominee Director 4
4 Shri Vinay Ranjan Director (Personnel & Industrial 5
Relations)
3. Web-link where Composition of CSR (b). Two percent of average net profit of the
committee, CSR Policy and CSR projects company as per sub-section (5) of Section
approved by the board are disclosed on the 135
website of the company
H 7.10 crore
Web-link for composition of CSR committee:
https://www.coalindia.in/departments/csr/csr-committee/ (c). Surplus arising out of the CSR Projects or
programmes or activities of the previous
Web-link for CSR policy: financial years
https://www.coalindia.in/departments/csr/csr-policy/
NIL
Web-link for CSR projects:
(d). Amount required to be set-off for the financial
https://www.coalindia.in/departments/csr/csr-activities/ year, if any
NIL
4. Executive summary along with the web-
link of Impact assessment of CSR projects (e). Total CSR obligation for the financial year
carried out in pursuance of sub-rule (3) of [(b)+(c)-(d)]
rule (8), if applicable
H 7.10 crore
Six projects were identified for impact assessment as per
sub-rule (3) of rule (8) of Companies (Corporate Social
Responsibility Policy) Rules, 2014. The work of impact 6. (a). Amount spent on CSR Projects (both Ongoing
assessment was allotted to Indian Institute of Forest Project and other than Ongoing Project)
Management, Bhopal. IIFM has submitted the draft report
H 41.17 crore
which is under review. On finalization of the same, the
report shall be placed before the competent authority and (b). Amount spent in administrative overheads
shall be uploaded on CIL website.
H 0.27 crore
5. (a). Average net profit of the company as per sub- (c). Amount spent on Impact Assessment, if
section (5) of Section 135 applicable
H 354.96 crore H 0.06 crore
002-115 116-332 333-513
(d). Total Amount spent for the Financial Year [(a)+(b)+(c)]
H 42.04 crore
(e). CSR amount spent or unspent for the financial year:
Total Amount Amount Unspent

Spent for the Total amount transferred to Unspent Amount transferred to any fund specified under
Financial Year CSR Account as per Section 135(6) Schedule VII as per second proviso to Section 135(5)
(in J crore) Amount Date of Transfer Name of the Fund Amount Date of Transfer
42.04 NIL Not applicable Not applicable NIL Not applicable
(f). Excess amount for set off, if any
Sl.
Particular Amount (in J crore)
No.
(i) Two percent of average net profit of the company as per Section 135(5) 7.10
(ii) Total amount spent for the Financial Year 42.04
(iii) Excess amount spent for the Financial Year 34.94
[(ii) – (i)]
(iv) Surplus arising out of the CSR projects or programmes or activities of the 0.00
previous financial years, if any
(v) Amount available for set off in succeeding financial years Nil
[(iii) – (iv)] (No Amount is set-off)
7. Details of Unspent CSR amount for the preceding three financial years:
Amount Amount transferred to any fund Amount

Amount
transferred to specified under Schedule VII as per remaining to
spent in the
Sl. Preceding Unspent CSR section 135(6), if any be spent in
reporting
No. Financial Year Account under succeeding
Financial Year Name of Amount Date of
section 135(6) financial years
(in J crore) the fund (in J crore) transfer
(in J crore) (in J crore)
1 2019-20 0.00 0.00 Not 0.00 Not 0.00
applicable applicable
2 2020-21 0.00 0.00 Not 0.00 Not 0.00
3 2021-22 0.00 0.00 Not 0.00 Not 0.00
TOTAL 0.00 0.00 0.00 0.00
8. Whether any capital assets have been created or acquired through Corporate Social Responsibility
amount spent in the Financial Year: Yes
If yes, enter the number of capital assets created/acquired
13
Furnish the details relating to such asset(s) so created or acquired through CSR amount spent in the
Financial Year:
Attached as Annexure A
9. Specify the reason(s), if the company has failed to spend two per cent of the average net profit
as per Section 135(5).
Not applicable
Sd/- Sd/-
Pramod Aggarwal B. Rajeshchader
(Chairman cum Managing Director) (Chairman CSR Committee)
(DIN: 00279727) (DIN: 02065422)
Date: 20.06.2023 Date: 20.06.2023
002-115 116-332 333-513
Annexure A
funds of FY 22-23
to the Directors' Report (CSR) for FY 22-23: Details of creation or acquisition of capital assets from CSR
Short particulars of the

Details of Entity/Authority/Beneficiary of the
property or asset(s) Pincode of Amount of
Sl Date of registered owner
[including complete the property CSR Spent
N Creation
address and location of or asset(s) (J)
6
the property]
CSR
Registration Registered
1 2 3 4 5 Name
Number, if Address
applicable
1 School Building 741302 27.03.2023 23962178.00 CSR00005241 International ISKCON, Hare
Bhaktivedanta National Society for Krishna Land,
School, Bhaktisiddhanta Krishna Juhu, Mumbai
Saraswati Marg, Consciousness - 400049,
Mayapur, West Bengal - (ISKCON) Maharashtra
741302
2 School Building and 670592 05.07.2022 7894000.00 Not Applicable Govt. Higher Govt. Higher
Furniture Secondary Secondary
Govt. Higher Secondary School, Munderi School,
School, Munderi, Kannur, Munderi,
Kerala - 670592 Kannur, Kerala -
670592
3 Medical Equipment 700160 22.07.2022 20000000.00 CSR00002920 Tata Medical Action Area
Tata Medical Centre, 14 Centre Trust II, Newtown,
MAR (E-W), New Town, Kadampukur,
Rajarhat, Kolkata, West West Bengal
Bengal - 700160 700135
4 Classroom 194101 10.08.2022 3000000.00 CSR00008854 Himalayan C/o SECMOL
Himalayan Institute Institute of Housing
of Alternatives, C/o Alternatives Coloney, Leh -
SECMOL Housing Ladakh 194101
Colony, PO Box No. 4,
Leh, Ladakh - 194101
5 Building of organic 591227 11.10.2022 15690890.00 Not Applicable Savayava Krushi Krishinivasa,
farming research & trainig Parivara Kuruvalli
institute Thirthahalli,
Kaujalagi, Taluk Gokak, Shimoga,
Belagavi - 591227, Karnataka
Karnataka 577432
6 Veterinary hospital 581113 08.12.2022 9870000.00 Not Applicable District UB Hills
building Administration, Road Near
Taluka Headquarters Dharwad Hindi Prachar
Kundagol, Dharwad - Sabha Circle,
581113, Karnataka Malmaddi,
Dharwad,
Karnataka
580001
7 Building for 502316 15.12.2022 15729081.00 Not Applicable Eklavya 1-8-522/7,
accommodation of Foundation Street no.14,
resource persons for Chikkadpally,
farmer training Hyderabad,
Krishi Vikas Kendra, Telangana -
Tuniki Village, Kowdipally 500020
Mandal, Medak District,
Telangana - 502316
Short particulars of the

Details of Entity/Authority/Beneficiary of the
property or asset(s) Pincode of Amount of
Sl Date of registered owner
[including complete the property CSR Spent
N Creation
address and location of or asset(s) (J)
6
the property]
CSR
Registration Registered
1 2 3 4 5 Name
Number, if Address
applicable
8 Gym equipment 175001 09.01.2023 11611860.00 Not Applicable Respective Bangala
38 Gram Panchayats in Gram Muhalla,
Mandi District, Himachal Panchayats in Bhagwan
Pradesh Mandi District, Muhalla,
Himachal Samkhetar,
Pradesh Mandi, Himachal
Pradesh 175001
9 One floor of hospital 441108 03.03.2023 300000000.00 CSR00012471 Dr. Aabaji 293 Sitaram
building Thatte Seva aur Smruti
Khasra No. 25, Outer Anusandhan WHC Road,
Hingna Ring Road, Sanstha Dharampeth,
Mouza-Jamtha, Nagpur - Nagpur -
441108, Maharashtra 440010,
Maharashtra
10 Medical equipment 800006 16.01.2023 12652840.00 CSR00020020 Birsa Sewa Hanumant
10 centres in total in (Pin code Prakalpa Ashram, Sumati
Bihar & Jharkhand at of the Path, Ranighat,
different places Implementing Mahendru,
Agency office) Patna - 800006,
Bihar
11 Building & Furniture of 121006 29.03.2023 20000000.00 CSR00001000 Bharat Vikas Nasha Mukti
hospital Parishad Social Kendra
Sector 8, Faridabad - Welfare Trust Compound,
121006, Haryana Sector 14,
Faridabad,
Haryana -
121007
12 Equipment & building 474011 22.12.2022 3521189.00 CSR00006101 Ramakrishna Ramakrishna
renovation in school Mission Ashram, Puri, Thatipur,
Ramakrishna Mission Gwalior Gwalior, Madhya
Ashrama Campus, Pradesh -
Ramakrishna Puri, 474011
Thatipur, Gwalior
- 474011, Madhya
Pradesh
13 Brailler Embosser 700145 28.03.2023 3151220.00 CSR00003994 Blind Persons' Blind Persons’
Lal Bihari Shah Braille Association Association 6B,
Academia, Vidyapalli, Panchanantala
Malancha Mahi Nagar, road, Kolkata -
Kolkata, West Bengal 700029, West
700145 Bengal
002-115 116-332 333-513
ANNEXURE 22
Significant and Material Orders passed by the Regulators or Courts etc.

1. C.A No. 2845 of 2017, CIL & Anr. v. CCI and CIL filed an appeal before the erstwhile Ld. Competition
Sai Wardha Power Limited and T.P. (Civil) Appellate Tribunal (COMPAT) on 5 December 2014, along
2008-2013 of 2019, CIL v. CCI with an interlocutory application for stay of the direction
of the Commission. The COMPAT heard the matter on
a. Name of the Court / Tribunal: Supreme Court of various dates during March 2015 and October/November
India 2015, and reserved its judgment. The COMPAT eventually
pronounced its order on 9 December 2016 (after a period of
b. Main issue involved: Allegations of abuse of dominance
over 12 months from the last date of hearing in the matter),
and unfair and discriminatory conduct by CIL and WCL
i.e. after the judgment on 17 May 2016 and upheld the
in relation to their cost plus fuel supply agreements and
CCI’s Order without substantively addressing CIL/WCL’s
actions with the Informant (power producer). This was
arguments. Hence, CIL and WCL have appealed against
allegedly done by: (i) delaying the execution of fuel supply
the COMPAT’s order before the Supreme Court.
agreements; and (ii) forcing the Informant to enter into a
one-sided anti-competitive cost plus fuel sale agreements. d. Current Status
The matter also raises questions of constitutional Coal continues to be supplied to SWPL in accordance with
importance, that impact all competition law matters the Supreme Court’s interim order from 3 August 2017
involving CIL and its subsidiaries. In light of the same, a and 6 November 2017. In August 2017, CIL/WCL filed an
transfer petition was filed before the Supreme Court, interlocutor application (IA) to raise additional grounds in
transferring all competition law matters involving CIL and relation to the applicability of the Competition Act 2002, to
its subsidiaries before the NCLAT, to the Supreme Court, to CIL and its subsidiaries. The CCI & SWPL have filed their
determine the constitutional issue. replies to this application. CIL/WCL have filed rejoinders to
both replies.
c. Overview of the Matter: An Information was filed by Sai
Wardha Power Limited (SWPL) before the Competition On 10 April 2018, CIL/WCL apprised the Supreme Court of
Commission of India (CCI) on 11 November 2013, alleging the execution application filed by SWPL before the National
unfair and discriminatory conduct on the part of the CIL Company Law Appellate Tribunal (NCLAT). The Supreme
and WCL, in violation of Section 4 of the Competition Act, Court specifically directed that SWPL shall not take any
2002 (Act) with respect to production and supply of non- steps for enforcement of the orders passed by the erstwhile
coking coal to the thermal power producers in India i.e., COMPAT.
relevant market.
Final arguments in the matter commenced on 9 April 2019
The CCI held that CIL and its subsidiaries were dominant in and continued briefly on 24 April 2019. Subsequently, on
the relevant market by virtue of the Nationalization Act and 24 July 2019 the AG made detailed submissions in relation
policy scheme. to the constitution law aspect and Mr. Maninder Singh (ex
ASG) commenced arguments on merits. The matter was
With respect to allegations of abuse of dominance, the
adjourned as part heard on 25 July 2019.
CCI found that (i) CIL delayed the execution of the FSA
with SWPL because of its market power; (ii) terms and During this hearing, the Supreme Court bench noted that
conditions of the LoAs entered into between CIL and various various appeals involving CIL are pending before the
power producers were unfair and/or discriminatory as they National Company Law Appellate Tribunal (NCLAT) and
contained obligations on the power producers (relating to involve similar issues as this appeal being heard by the
completion of milestones and a commitment guarantee) Supreme Court. Accordingly, the Bench orally directed CIL
with no reciprocal obligations on CIL; (iii) CIL failed to evolve to file a transfer petition, seeking transfer of the NCLAT
terms and conditions of the FSAs through a mutual bilateral appeals to the Supreme court.
process; (iv) the pricing formula contained in the FSA was not
only unfair but also non transparent; (v) demand of additional Based on the oral directions of the Bench, we have filed the
financial risk bank guarantee was arbitrary and unjustifiable; transfer petition with the Supreme Court Registry.
(vi) Provisions in the FSA relating to performance incentive
The Transfer Petition was listed before the Supreme Court
are unfair and without any rationale due to the very nature
on 16 August 2019. During this hearing, the Supreme Court
of Cost Plus arrangements; and (vii) CIL’s failure to include
issued notice, allowed dasti service, and directed the
revenues from e-auction of coal from Cost Plus mines while
matter to be listed after 2 weeks. They also granted a stay
calculating the cost for Cost Plus consumers was unfair.
on the NCLAT proceedings in relation to the matters sought
The CCI directed CIL to amend these provisions and file an
to be transferred.
undertaking to that effect.
The Transfer Petition was listed before the Registrar on In the same judgment, the Supreme Court directed the
13 January 2020. The Respondents were allowed a last pending IAS (in relation to the supply of coal to SWPL
chance of four weeks to file their counter replies. under the Supreme Court’s Interim Orders) to be listed
for hearing in the second week of July 2023. As per the
Thereafter, the Civil Appeal was listed on 20 September
computer-generated date available on the Supreme Court
2021 wherein the Supreme Court decided to have the
website. the matter is likely to be listed on 12 July 2023.
matters (Civil Appeal and Transfer Petition) listed on 27
The contempt petition filed by SWPL. alleging that CIL and
September 2021 for directions, during which they may fix a
WCL have not complied with the Supreme Court’s Interim
date for final hearing of the matters.
Orders may also come up on the same date. Confirmation
The matter has since been listed before a new 2-judge on the next date of hearing is awaited.
bench, comprising Justice Gavai. It was last listed on 16
September 2022. The Bench directed that the matter be The Supreme Court also ordered that all the cases
next listed before a 3-judge bench. transferred to the Supreme Court (by way of the transfer
petition) be sent back to the NCLAT to be decided on their
The matter was listed on 22 March 2023 before a 3-judge own merits.
bench, who allowed the transfer petition and ordered that the
cases before the NCLAT be transferred to the Supreme Court.
2. C.A No. 5697 of 2017, CIL v. CCI and Bijay
The matter was listed on 12 April 2023 and 20 April 2023 Poddar
but could not be taken up due to paucity of time.
a. Name of the Court / Tribunal: Supreme Court
The hearings in the LA for additional grounds commenced of India
on 26 April 2023, and continued through April and May 2023.
b. Main issue involved: Allegations of abuse of dominance
Mr. K. K. Venugopal (former-AG), on behalf of CIL, argued against CIL in relation to the terms and conditions of its
before the 3-judge bench that the Competition Act does not ‘spot e-Auction’ scheme through which bidders could
apply to CIL. and its subsidiaries. Mr. Venugopal apprised buy non-coking coal. The allegations of abuse are in
the bench that CIL is governed by the Nationalisation relation to the imposition of a non-reciprocal earnest
Act, and was set up to carry out the distribution of coal money deposit clause on successful bidders who fail
for common good as per the directive principles of state to lift coal.It was alleged that the auction scheme was
policy enshrined in Article 39(b) of the Constitution of arbitrary since it imposed a penalty on bidders who
failed to offer full or part of the successful bid, but not
India. Mr. argued that CIL. is bound to act in accordance
on CIL if they failed to supply the coal.
with govemment policies and Presidential Directives,
and applying the Competition Act to CIL will impede its c. Overview of the matter:
ability to operate for the furtherance of common good.
An information was filed against CIL stating that the
Mr. N. Venkataraman (ASG) argued on behalf of the terms and conditions of its ‘Spot e-Auction’ scheme
CCI and Mr. Ranjit Kumar argued on behalf of SWPL through which bidders could buy non-coking coal were
that the Competition Act must be applied to CIL and its arbitrary as they imposed a penalty on bidders who
subsidiaries as CIL a government company, and essentially failed to offer full or part of the successful bid, but not
an “enterprise” within the meaning of the Competition on CIL if it failed to supply the coal. The CCI passed
Act. There was no express exclusion for CIL under the an order against CIL stating that this amounted to CIL
having abused its dominant position in the relevant
Competition Act-the same parliament that drafted the
market i.e., ‘sale of non-coking coal to the bidders
Nationalisation Act also drafted the Competition Act, which
under Spot e-auction in India’.
is a later statute, If they for Cll us be excluded from the
purview of the Competition Act, they would have expressly CIL filed an appeal against the CCI’s order before the
made the exclusion. erstwhile COMPAT.
Through its judgment dated 15 June 2023, the Supreme Vide Order dated 20 March 2017, the erstwhile
Court disposed of the (A for additional grounds and Transfer COMPAT dismissed Appeal No. 81 of 2014 filed by CIL
Petition. The Supreme Coum held that the Competition against the order of the CCI dated 27 October 2014,
Act applies to CIL and as subsidiaries. The Supreme holding CIL and its subsidiaries to be abusing their
Court, however, clarified that CIL will be entitled to take alleged dominant position. CIL was directed to modify
any defences available under the law to demonstrate terms of Spot e-auction Scheme 2007 in light of its
that it has not abuses its dominant position In essence, findings in the order.
the Supreme Court clarified that the CCI must take into
account the defences set up by Cll while assessing abuse CIL filed an Appeal before the Hon’ble Supreme Court
of dominance, such as by allowing CIL to justify its conduct of India against the order of the COMPAT.
hased on core operating in covedance with government
d. Details and Current Status:
policies, President a Devctives ac tolding this, the Supreme
Court ordered that C’s appeal in the SW9 m will be decided The Supreme Court vide its order dated 5 May 2017
on ineries in due course. granted a stay on the COMPAT’s Order.
002-115 116-332 333-513
The Respondents filed their reply to the Appeal. CIL CIL’s contentions was that principles of natural justice
has filed Rejoinder to the same. had not been adhered to, and the CCI members who
decided the matter were not the same as those who
The matter was taken up by the Supreme Court on 18 has heard the arguments. On this ground, the matter
February 2019. Mr. P.S. Narasimha appeared on behalf was remanded and re-hearings took place before the
of CIL and informed the bench that certain issues of CCI on 17 May 2016.
constitutional importance were pending before the
Supreme Court in Civil Appeal No. 2845/2017 (Sai The CCI passed a Fresh Order on 24 March 2017 and
Wardha Matter), and the outcome of the same would returned with similar findings as arrived at in the Old
impact this case as well. Order dated 9 December 2013. The CCI considered
mitigating circumstances such as changes made to the
Given this submission, the bench adjourned the matter. sampling and other clauses, and constraints imposed
by various ministries upon CIL, and accordingly
The matter was listed in the weekly list for the Supreme
reduced the penalty from H 1773 crore to H 591 crore.
Court for the week of 17 August 2020. However, given
that CIL opted for the matter to be listed through CIL filed an appeal against the fresh order of the CCI
physical hearing when the court re-opens, the matter before the NCLAT.
did not appear in the final cause list.
d. Details and Current Status
As the Supreme Court has decided the constitutional
issue in the Sai Wardha Matter (Civil Appeal No. 2845 A stay has been granted on the operation of the Order.
of 2017) by holding that the Competition Act will apply
to CIL and its subsidiaries, the Supreme Court may The opposite parties have filed replies to the Appeal
begin hearing this appeal in due course. The next date and CIL and Rejoinders have been filed by CIL.
of hearing is awaited.
As a result of the transfer petition pending before the
Supreme Court, a stay on these proceedings has been
3. Competition Appeal (AT) No. 1-3 of 2017, ordered by the Supreme Court.
(Case No. 3, 11, and 59 of 2012 before the
CCI) CIL and Ors. v. CCI, Maharashtra State We have informed the NCLAT bench of the stay granted
Power Generation Company Limited, and by the Supreme Court.
Gujrat State Electricity Corporation Limited
The matter was last listed on 11 May 2023. The next
a. Name of the Court / Tribunal: National Company Law date of hearing is awaited.
Appellate Tribunal
The matter was last dated on 21 March 2023. The
b. Main issues involved: Allegations of imposition next date of hearing was set as 11 May 2023, and
of unfair/discriminatory conditions in relation to the interim order of the Supreme Court continued to
fuel supply agreements entered by CIL with power operate. The matter did not come up on 11 May 2023.
producers. It was alleged that the terms and conditions As the Supreme Court by way of its judgement dated
of the agreements were imposed upon the power 15 June 2023. has directed that the case be transferred
producers without any bilateral discussions. back to the NCLAT to be decided on merits, the NCLAT
may start hearing the appeal in due course. The next
c. Overview of the Matter: date of hearing is awaited.
This combined case originated from 3 separate 4. Competition Appeal (AT) No. 12 of 2017,
Information(s) filed by Maharashtra State Power (Case No. 5&7, 37, and 44 of 2013 before
Corporation Limited (Mahagenco – filed 2 of the 3 the CCI) And Competition Appeal (AT) No.
Information(s)) and Gujrat State Power Corporation 11 of 2017, (Case No. 8 of 2014 before
Limited (GSECL) against CIL and some of its the CCI), CIL and Ors. v. CCI, Madhya
subsidiaries, alleging abuse of dominance, with respect Pradesh Power Generation Company
to: (i) drafting and finalizing the FSAs; (ii) discriminatory Limited, West Bengal Power Development
grade spillage provisions; (iii) purchaser having no say Corporation Limited, and Sponge Iron
in sampling provisions; (iv) obligations with respect to Manufacturers Association And CIL and
supply of ungraded coal; (v) different compensation Anr. v. CCI and GHCL
provisions for stones and oversized coal; (vi) difference
in renew and termination provisions; and (vii) different a. Name of the Court / Tribunal: National Company Law
force majeure provisions. Appellate Tribunal
The CCI decided this case against CIL and passed an b. Main issues involved: Allegations of unfair and
order on 9 December 2013. A penalty of H 1773 crore discriminatory conditions in fuel supply agreements
was imposed upon CIL. CIL filed an appeal against with various customers. It was specifically alleged that
this decision before the erstwhile COMPAT. One of CIL had not engage in bilateral discussions to finalise
the terms and conditions of the fuel supply agreement. As a result of the transfer petition pending before the
Supreme Court, a stay on these proceedings has been
c. Overview of the Matter: ordered by the Supreme Court.
This combined case originated from 4 separate We have informed the NCLAT bench of the stay granted
Information(s) filed by Madhya Pradesh Power by the Supreme Court.
Generation Corporation Limited (MPPGCL – filed 2 of
the 4 Information(s)), West Bengal Power Development The matter was last listed on 11 May 2023. The next
Corporation Limited (WBPDCL) and Sponge Iron date of hearing is awited. The matter was last listed
Manufacturers Association (SIMA – private player) on 21 March 2023. The next date of hearing was set
against CIL and its subsidiaries (all 7 subsidiaries are as 11 May 2023, and the interim order of the Supreme
involved in this matter). Court continues to operate. The matter did not come
up on 11 May 2023. As the Supreme Court, by way of
The CCI decided this case against CIL, finding it to its judgment dated 15 June 2023. has directed that the
have abused its dominant position in relation to: (i) case be transferred back to the NCLAT to be decided
drafting and finalizing of the FSAs; (ii) grade declaration on merits, the NCLAT may start hearing the appeal in
and grade review; (iii) supplies through MoUs; and (iv) due course. The next date of hearing is awaited.
DDQ and supply of ungraded coal.
No penalty was imposed since it had already been 5. Case No. 11 of 2017. Information filed
imposed in the Mahagenco case. CIL filed an appeal by Karnataka Power Corporation Limited
against this decision before the erstwhile COMPAT. against CIL, MCL, and WCL, Now Competition
This was tagged with the Mahagenco Appeal, the Appeal (AT) 36 of 2018, Appeal filed by KPCL
matter was remanded and re-hearings took place against the CCI’s Order dated 16 March 2018
before the CCI in 2016.
a. Name of the Court / Tribunal: National Company Law
In April 2017, the CCI passed its fresh order re-iterating Appellate Tribunal
its previous findings and observations with the CCI
b. Main issues involved: Allegations of abuse of
relying heavily on the Mahagenco order while deciding
dominance against CIL in relation to lack of negotiations
this case. No penalty was imposed in this order as well.
in drafting fuel supply agreements, issues pertaining
An appeal against this decision as well, and the same to qualities and quantities of coal supplied, including
is pending before NCLAT. those related to sampling procedure, grade slippage/
mis-declaration of grades, deemed delivery, lack of
With respect to Case No. 8 of 2014, an Information investments in coal mining and handling infrastructure.
was filed by Gujrat Heavy Chemicals Limited (private
c. Overview of the matter:
sector player) against CIL and WCL. In this case, the
findings of the CCI on abuse of dominant position, were An information was filed by Karnataka Power
in relation to the following: (i) terms and conditions of Corporation Limited (KPCL) in 2017 (after 8 years of
the LoA; (ii) process of drafting the FSA; (iii) reduction of signing the FSAs), against CIL, Mahanadi Coalfields
ACQ through the MoU; (iv) cumulative effect of the MoU Limited (MCL), and WCL on 27 March 2017, raising a
and the addendum to the FSA; (v) reminder regarding few issues which had all been dealt with by the CCI in
extension of commitment guarantee; (vi) provisions the Mahagenco case. These issues were in relation to:
regarding security deposit; (vii) sampling of coal; (viii) (i) unfair FSAs; (ii) quality of coal (including issues on
grade review; and (ix) DDQ clause in the MoU. grade slippage, gross calorific value being billed and
received, boulders and stones being supplied, wet and
No penalty was imposed since it had already been slushy coal); (iii) sampling; and (iv) price.
imposed in the Mahagenco case. CIL filed an appeal
against this decision before the erstwhile COMPAT. The CCI invited both sides for preliminary hearings on
This was tagged with the Mahagenco Appeal, the 22 August 2017.
matter was remanded and re-hearings took place The status report was filed by CIL on 12 September
before the CCI in 2016. 2017.
In April 2017, the CCI passed its fresh order re-iterating After hearing preliminary arguments on behalf of CIL,
its previous findings and observations with the CCI the CCI directed KPCL to file written submissions on
relying heavily on the Mahagenco order while deciding the two limited points of (i) re-declaration of coal by the
this case. No penalty was imposed in this order as well. CCO; and (ii) overloading of coal by railway companies.
KPCL filed its submissions and CIL has filed a reply.
An appeal against this decision as well, and the same
is pending before NCLAT. On 8 February 2018, the CCI passed an order directing
KPCL to furnish information regarding overloading and
d. Details and Current Status: charged paid by it. KPCL filed additional information
002-115 116-332 333-513
on 23 February and we filed a reply to this additional of H 908 crore. Subsequently, on 30 January 2017,
information on 6 March 2018. SWPL filed an IA raising the claim amount to over
H 1500 crore.
On 16 March 2018, the CCI passed its order and
dismissed the complaint filed by KPCL. The CCI closed On 7 March 2017, CIL and WCL filed their response
the case stating that since the issues raised by KPCL to the IA. On 20 March 2017, the erstwhile COMPAT
had already been dealt with in previous cases, and no issued notice on the main application filed in April
new issues were raised to examine further or require 2015. The matter was transferred to the NCLAT after
further orders to be passed in relation to this Information. the merger of tribunals by virtue of a government
notification. The NCLAT has not started hearing the
Specifically, on the two additional issues, the CCI
matter on merits as yet.
observed that: (i) the coal controller issue had already
been dealt with previously and there was no merit in the CIL filed a reply to the main compensation application
allegation that the office of the coal controller was not on 11 September 2017 and SWPL has filed their
operating independently; and (ii) the Informant should Rejoinder to the same. CIL has also filed additional
intimate the opposite parties in case of overloading submissions to address new issues raised by SWPL in
issues and the opposite parties should take remedial its rejoinder.
action regarding the same as per the FSAs.
d. Details and Current Status
KPCL filed an appeal against the decision of the CCI.
Since 28 November 2017, the NCLAT has been
The appeal is pending before the NCLAT.
adjourning the matter as the main appeal is pending
d. Details and Current Status: before the Supreme Court.
As a result of the transfer petition pending before the On 9 April 2018, SWPL filed an application seeking
Supreme Court, a stay on these proceedings has been execution of the Order passed by the COMPAT.
ordered by the Supreme Court. Considering the interim order passed by the Supreme
Court on 10 April 2018, the NCLAT bench observed that
We have informed the NCLAT bench of the stay granted
the compensation case and the execution application
by the Supreme Court.
should await the decision of the Supreme Court.
The matter was last listed on 30 May 2022. The matter
The matter was last heard on 2 March 2023. The next
was adjourned without setting the next date of hearing,
date of hearing will be set basis the developments in
and the NCLAT directed that the matter be listed after
the transfer petition before the Supreme Court, and
the transfer petition is disposed of, or pursuant to any
the interim order of the Supreme Court continues to
other order passed by the Supreme Court. The interim
operate in the meanwhile.
order of the Supreme Court continues to operate in the
meanwhile. The NCLAT also granted the parties the liberty As the Supreme Court, by way of its judgment dated
to mention the matter before the NCLAT in such case. 15 June 2023, has directed that the appeals pending
before the NCLAT be transferred back to the NCLAT
As the Supreme Court, by way of its judgment dated
to be decided on merits, the NCLAT may also start
15 June 2023, has directed that the case be transferred
hearing the compensation application in due course.
back to the NCLAT to be decided on merits, the NCLAT
The next date of hearing is awaited
may start hearing the appeal in due course. The next
date of hearing is awaited.
7. Case No. 02 of 2022, Information filed by
Tamil Nadu Generation and Distribution
6. CA. No. 2 of 2015 SWPL v. CIL and Ors.
Corporation against CIL, ECL and MCL
a. Name of the Court / Tribunal: National Company Law before the CCI
Appellate Tribunal
a. Name of the Court / Tribunal: CCI
b. Main issues involved: Claim of compensation claim b. Main issues involved: Allegations by the Tamil Nadu
filed against WCL/CIL arising out of the CCI’s order Generation and Distribution Corporation (TANGEDCO)
and COMPAT’s order returning a finding of abuse against CIL relating to (i) slippage in the quality/grade
of dominance against CIL on account of: (i) delay in of coal supplied by CIL, (ii) tampering of referee
execution of the fuel supply agreement, (ii) faulty samples used to confirm the quality/grade of coal in
pricing mechanism, (iii) inferior quality of coal supplied, case of disputes, (iii) non-supply of coal and arbitrarily
(iv) costs related to bank guarantees, and (v) refunds requesting for a no-objection certificate to transfer
for performance incentives already paid to CIL. linkages of coal from one subsidiary of CIL to another.
c. Overview of the Matter: c. Overview of the Matter: An Information was filed by
TANGEDCO on 6 January 2022 against CIL, Eastern
In April 2015, SWPL filed an application under Section
Coalfields Limited (ECL) and MCL, alleging a violation
53N of the Competition Act, claiming a compensation
of Section 4 of the Act with respect to the supply
of non-coking coal to customers (thermal power Further, it is alleged that due to the unfair sampling
generators) in India i.e., relevant market. and testing policy of CIL and its subsidiaries, and the
consistent grade slippage, the power producers have
The allegations with respect to abuse of dominance
been forced to take coal of lower grade for a very high
under Section 4 of the Act are as follows:
price. This is alleged to amount to unfair pricing by CIL
Grade slippage: It has been alleged that the coal and its subsidiaries in contravention of Section 4(2)(a)
supplied by ECL to TANGEDCO has been found to (ii) of the Act.
have significant and consistent grade slippage. In
Non-Supply of coal due to absence of NOC: It is alleged
turn, this has allegedly led to CIL and its subsidiaries
that non-supply of coal to the Informant due to no NOC
refusing to supply the declared grade of coal, which
being provided, has resulted in lesser power generation
has been established by the tests conducted by
and procuring power at a very higher cost from other
CIMFR. It is alleged that the consistent failures of the sources, resulting in huge losses to the State. This has
dominant enterprise to supply the declared grade of resulted in resulted in limiting and restricting the extent
coal is an unfair condition in supply of non-coking coal of thermal power generation and correspondingly
to thermal power producers in India, in contravention increased the tariff for the end consumers. Thus, the
of the provisions of Section 4(2) of the Act. conduct of CIL and its subsidiaries in refusal to supply
coal is a contravention of Section 4(2)(b)(i) of the Act.
Tampering of samples: It is alleged that the referee
It is alleged that the refusal to supply the transferred
samples under the TPS Agreement are kept within the
quantities to recover dues, without resolving the
premises of the concerned subsidiary of CIL. This, in
grade slippage dispute, is also an unfair stipulation, in
turn, makes the samples vulnerable to manipulation
contravention of Section 4(2)(a)(i) of the Act. Allegedly,
and tampering by the coal suppliers. It is alleged that
the conduct of MCL and CIL, in restricting the supply
CIL and its subsidiaries are guilty of abusing their
of the quantities transferred from ECL, is an imposition
dominant position in relation to their sampling policy
of supplementary obligation, which has no connection
and conduct particularly since the CCI has found them
with the subject matter of the agreement between
guilty of the same in the past. They should adopt a
TANGEDCO and MCL. Thus, the conduct of CIL and
policy that is compliant with the Competition Act,
MCL, is prohibited under Section 4(2)(d) of the Act.
and the earlier order of the CCI. Imposition of such a
deficient and vulnerable sampling and testing policy d. Current Status
on the dependent consumers as well as the tampering
of referee samples, are alleged to be violations of The CCI dismissed allegations against CIL, MCL and
Section 4(2)(a)(i) of the Act. It is alleged that the relevant ECL under Section 26 of the Act by way of an order
provision of the sampling contract and the conduct dated 30 June 2022. No appeal has been filed by
of the ECL in pursuance thereof does not meet any TANGEDCO against the CCI’s order.
standard of reasonability and is undoubtedly a blatant
abuse of dominant position, in contravention of the
obligation cast under Section 4(2)(a)(i) of the Act.
002-115 116-332 333-513
ANNEXURE 23
REPORT ON CORPORATE GOVERNANCE REPORT

1. Company’s Philosophy on Code of Non-Executive Directors (Government Nominees) and 7
Governance: Independent Directors. In addition, there are 3 Permanent
Invitees in the Board. CIL had requested Ministry of Coal,
The Directors present Corporate Governance Report of Govt. of India to appoint a Woman Independent Director to
the Company for the year ended 31st March, 2023 in terms comply with SEBI LODR’2015.
of Regulation 34(3) read with Schedule V of SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2.3 Age limit and tenure of Directors
2015 (“Listing Regulations”). Corporate Governance is for
The age limit of Chairman & Managing Director and
ensuring values, ethical business conduct, transparency,
other whole-time functional Directors is 60 Years. The
disclosures as per laws, rules and guidelines. CIL is
Chairman cum Managing Director and other whole-time
committed to observe Corporate Governance practices at
Functional Directors are appointed for a period of five years
all levels to achieve its objectives.
from the date of assumption of charge or till the date of
superannuation of the incumbent or till further orders from
2. Board of Directors: the Government of India whichever event occurs earlier.
None of the Directors on the Board hold directorships in
2.1 Size of the Board
more than ten public companies. Further none of them is
Coal India Ltd is a Government Company within the a member of more than seven committees or Chairman of
meaning of Section 2(45) of Companies Act, 2013. As per more than five committees across all the public companies
the Articles of Association of the Company, the power to in which he is a Director. Necessary disclosures regarding
appoint Directors vests with The President of India. The Committee positions in other public companies as on 31st
Chairman shall be appointed by the President and the terms March, 2023 have been made by the Directors. Government
and conditions of his appointment shall be determined by Nominee Directors representing Ministry of Coal, retire from
the President. In addition to Chairman, the President shall the Board on ceasing to be officials of Ministry of Coal or
also appoint Managing Director, whole time Functional till further orders from the Government of India whichever
Directors and other Directors in consultation with the event occurs earlier.
Chairman. Functional Directors and Government nominee
Independent Directors are appointed by the Government
Directors are liable to retire by rotation. Chairman and
of India. The Independent Directors have fulfilled the
Independent Directors are not liable to retire by rotation.
conditions of independence specified in Section 149(6) of
In terms of the Articles of Association of the Company, the
the Companies Act, 2013 and Regulation 16(b) of Listing
number of Directors of the Company shall not be less than
Regulations, 2015.
three. These directors may be either whole time functional
Directors or part time Directors. 2.4 Board Meetings
2.2 Composition of Board During the year 2022-23, Eleven (11) Board meetings were
held on 07.04.22, 29.04.22, 25.05.22, 02.06.22, 15.06.22,
As on 31st March,2023, Board of Directors comprised of
08.07.22, 10.08.22, 21.10.22, 07.11.22, 04.01.23 and
Chairman, 4 Functional Directors, Director (technical) is
31.01.23.
holding an Additional Charge of Director Finance and 2
The number of Board Meetings attended by the Directors and Permanent Invitees, including attendance at the last Annual
General Meeting, number of other Directorship etc. during 2022-23 were as follows:
No. of other
No. of Board
Attended the Directorship as
Sl. Period meetings
Name Designation last AGM held on 31.3.2023
No. upto 31.03.2023 attended during
on 30.08.22 in Listed public
22-23
companies
1 Shri Pramod 02.01.20 to Chairman cum 11 Yes Nil
Agarwal 31.03.23 Managing Director
2 Shri Pramod 29.12.21 to Director (Finance)- 9 NA Nil
Agarwal 28.12.22 Addl. Charge
3 Shri S. N. Tiwary 01.12.19 to Director 1 NA Nil
30.04.22 (Marketing)
No. of other
No. of Board
Attended the Directorship as
Sl. Period meetings
Name Designation last AGM held on 31.3.2023
No. upto 31.03.2023 attended during
on 30.08.22 in Listed public
22-23
companies
4 Shri Vinay Ranjan 28.07.21 to Director (P & IR) 11 Yes Nil
31.03.23
5 Dr B. Veera Reddy 01.02.22 to Director 11 Yes Nil
31.03.23 (Technical)
6 Dr B. Veera Reddy 01.05.22 to Director 7 Yes Nil
22.12.22 (Marketing)-Addl.
Charge
7 Dr B. Veera Reddy 29.12.22 to Director (Finance)- 2 NA Nil
31.03.23 Addl. Charge
8 Shri Debasish 11.07.22 to Director (Business 5 Yes Nil
Nanda 31.03.23 Development)
9 Shri Mukesh 23.12.22 to Director 2 NA Nil
Choudhary 31.03.23 (Marketing)
10 Shri V. K. Tiwari 29.11.19 to Part-time Official 8 Yes Nil
21.02.23 Director
11 Shri Nagaraju 22.02.23 to Part-time Official - NA Nil
Maddirala 31.03.23 Director
12 Smt. Nirupama 15.06.21 to Part-time Official 6 No 1
Kotru 31.03.23 Director
13 Prof. G. Nageswara 01.11.21 to Independent 11 Yes Nil
Rao 31.03.23 Director
14 Dr Arun Kumar 05.11.21 to Independent 11 Yes Nil
Oraon 31.03.23 Director
15 Shri Kamesh Kant 02.11.21 to Independent 11 Yes Nil
Acharya 31.03.23 Director
16 CA Denesh Singh 01.11.21 to Independent 11 Yes Nil
31.03.23 Director
17 Shri Punambhai 02.11.21 to Independent 11 Yes Nil
Kalabhai Makwana 31.03.23 Director
18 Shri B. 01.11.21 to Independent 11 Yes Nil
Rajeshchander 31.03.23 Director
19 Capt Ghanshyam 01.03.23 to Independent - NA Nil
Singh Rathore 31.03.23 Director
Sl. No. 2: Ceased to Director (Finance)-Addl. Charge w.e.f. a) Annual operating plans and budgets and any updates.
28.12.22. Sl. No. 3: Ceased to Director (Marketing) w.e.f.
30.04.22.Sl. No. 6: Director (Marketing)- Addl, Charge from b) Capital budgets and any updates.
(01.05.22 till 22.12.22). Sl. No.7: Director (Finance)- Addl.
c) Quarterly financial results of the company and its
Charge from 29.12.22. Sl. No. 8: Appointed as Director
operating divisions or business segments.
(Business Development w.e.f. 11.07.22. Sl. No. 9: Appointed
as Director (Marketing) from 23.12.22. Sl. No. 10: Ceased d) Minutes of meetings of audit committee and other
to be Government Nominee Director w.e.f. 21.02.23. Sl. committees of the board.
No. 11: Appointed as Government Nominee Director w.e.f.
22.02.23. Sl.No.19: Appointed as Independent Director e) The information if any on recruitment and remuneration
w.e.f. 01.03.23. of senior officers just below the level of board of
directors including appointment or removal of Chief
2.5 Information placed before the Board of Directors: Financial Officer and the Company Secretary.
The Company provides information as set out in Regulation f) Show cause, demand, prosecution notices and penalty
17(7) read with Part A of Schedule II of Listing Regulations, notices which are materially important.
2015 to the Board to the extent it is applicable and relevant.
The Board has complete access to any information within g) Fatal or serious accidents, dangerous occurrences,
the Company. The information regularly supplied to the any material effluent or pollution problems.
Board inter-alia included the following:
002-115 116-332 333-513
h) Any material default in financial obligations to and by 2. As required under Section 149(7) of the Companies Act’13
the company, or substantial non-payment for goods and Regulations 25(8) of SEBI (LODR) Regulations 2015
sold by the company. as amended, 7 Independent Directors had submitted
declaration that they meet the Independence Criteria as
i) Any issue, which involves possible public or product provided in Clause (b) of Regulation 16(1) and they are
liability claims of substantial nature, including any not aware of any circumstance or situation, which exist
judgement or order which, may have passed strictures or may be reasonably anticipated that could impair or
on the conduct of the listed entity or taken an adverse impact his/her ability to discharge his/her duties with
view regarding another enterprise that may have an objective independent judgment and without any
negative implications on the listed entity. external influence.
j) Details of any joint venture or collaboration agreement. 3. As required under Regulation 25(9) of LODR 2015 as
amended, the Board of Directors of the Company took
k) Transactions that involve substantial payment towards
on record the declaration and confirmation submitted
goodwill, brand equity, or intellectual property.
by the Independent Directors under Regulations 25(8)
l) Significant labour problems and their proposed after undertaking due assessment of the veracity of
solutions. Any significant development in Human the same. Board of Directors in its 450th Board meeting
Resources/ Industrial Relations front like signing held on 19th April 2023 ‘took on record’ the declaration
of wage agreement, implementation of Voluntary submitted by Independent Directors after undertaking
Retirement Scheme etc. due assessment of the veracity of the same. CIL Board
has also confirmed that in its opinion, the Independent
m) Sale of investments, if any, subsidiaries, assets which are Directors fulfill the conditions specified in SEBI (LoDR)
material in nature and not in normal course of business. regulations and are independent of the management.
n) Quarterly details of foreign exchange exposures and 4. None of the Directors in the Company are related to
the steps taken by the management to limit the risks of each other.
adverse exchange rate movement, if material.
5. No Equity Shares of Coal India Limited is held by Non-
o) Non-compliance of any regulatory, statutory or listing Executive Directors. Further Company has not issued
requirements and shareholders service such as non- any Convertible instruments.
payment of dividend, delay in share transfer etc.
6. None of Independent Directors of the Company has
2.6 Committees of the Board of Directors resigned before the expiry of his/her tenure.
The Board had constituted following statutory Committees 7. As stipulated by SEBI (LODR) Regulations 2015, the
as required under SEBI (LODR) Regulations 2015 and list of core skills/expertise/competence of the Board
Companies Act 2013: - of Directors identified by the Board of Directors as
i) Audit Committee. required in the context of its business and sector for it
to function effectively and those actually available with
ii) Nomination and Remuneration Committee.
the Board are as under: -
iii) Stakeholders Relationship Committee.
iv) Risk Management Committee. i. Executive Leadership
v) Corporate Social Responsibility Committee. ii. Governance Experience
vi) Independent Director Committee iii. Financial Acumen
vii) Share Transfer Committee. iv. Sectoral/Domain knowledge

v. Marketing Knowledge
CIL has also constituted Empowered Sub-Committee for
vi. Human Resource Management
Evaluation, Appraisal and Approval of Projects
vii. Project Formulation and Management
Other Disclosures: viii. Strategy/Risk Management
1. Ms. Nirupama Kotru is a Govt. Nominee director in ix. Occupational Health, safety and environment
Hindustan Zinc Ltd from 26.07.2021 which is a listed
Company. She is also a Govt. Nominee director in
BALCO Ltd which is subsidiary of Vedanta Ltd.
This was approved by Board in its 386th meeting held on 6th July’ 2019. Further with effect from the financial year ended March 31, 2020, the names of directors who have such skills /
expertise / competence as required is to be disclosed. Company Board at its 450th meeting held on 19th April 2023 approved the same for financial year 2022-23 as under: -
250
Skills/Expertise/Competence
Project
Sectoral/ Human Strategy/ Occupational
Name of the Directors Executive Governance Financial Marketing Formulation
Doma in Resource Risk Health, Safety &
Leadership Experience Acumen knowledge and
knowledge Management Management Environment
Management
Shri Pramod Agrawal    ×     ×
Coal India Limited
Shri V K Tiwari (till 22.02.23)    ×   ×  

Smt. Nirupama Kotru    × × ×   ×
Shri S N Tiwary (till 30.04.22)   ×   ×   ×
Shri Vinay Ranjan     ×  × × 
Dr B. Veera Reddy     × ×   
Prof. Nageswara Rao Gollapalli     ×    
CA Denesh Singh    × × × ×  
Shri Bhojarajan Rajesh Chander    × × ×  × ×
CA Kamesh Kant Acharya    × ×   × ×
Shri Punambhai Kalabhai Makwana   × × × × ×  ×
Dr Arun Kumar Oraon   × × ×    
Shri Debasish Nanda (from 11.07. 22)         
Shri Mukesh Choudhary (from 23.12.22)         ×
Shri Nagaraju Maddirala (from 22.02.23)         
Shri Ghanshyam Singh Rathore    × ×   
(from 01.03.23)

002-115 116-332 333-513
3. Audit Committee
(A) Brief description of terms of Reference
CIL in pursuance of excellence in corporate governance formed an Audit Committee of its Board of Directors w.e.f. 20th July’
2001 and the Audit Committee was re-constituted by the Board in its 433rd meeting held on 12th Nov’2021 consisted of 4
Independent Directors, One Government Nominee Director, One Whole Time Director (Director Technical) and One permanent
Invitee (Director Finance). The composition, quorum, powers, role and scope are in accordance with Section 177 of the
Companies Act, 2013 and the provisions of Regulation 18 of SEBI (LODR) 2015.
Director (Finance),E.D.(Finance)/CFO, G.M. (Internal Audit) and Statutory Auditors[wherever mandated] are invited to the Audit
Committee Meeting. Company Secretary is the Secretary to the Committee as per Regulation 18(1)(e) of the Listing Regulations.
Senior Functional executives are also invited as and when required to provide necessary clarification to the Committee. Internal
Audit Department provides necessary support for holding and conducting Audit Committee meeting.
(B) Composition, Meetings and Attendance of Audit Committee.
During the year 2022-23, Nine (9) Audit Committee meetings were held on 17.05.22, 25.05.22, 05.07.22, 10.08.22, 22.09.22,
07.11.22, 21.12.22, 31.01.23 and 17.03.23. The details are as under:
Sl. No. of meetings

Name of the Director Designation Status
No attended
1 CA Kamesh Kant Acharya Independent Director Chairman 9
2 CA Denesh Singh Independent Director Member 9
3 Shri Bhojarajan Rajesh Chander Independent Director Member 8
4 Prof. Nageswara Rao Gollapalli Independent Director Member 9
5 Smt. Nirupama Kotru Govt. Nominee Director Member 6
6 Dr. B. Veera Reddy Director (Technical) Member (From 01.02.22) 8
(C) Scope of Audit Committee: -
The role of the Audit Committee shall include the following:
1) oversight of the listed entity’s financial reporting process and the disclosure of its financial information to ensure that the
financial statement is correct, sufficient and credible;
2) recommendation for appointment, remuneration and terms of appointment of auditors of the listed entity;
3) approval of payment to statutory auditors for any other services rendered by the statutory auditors;
4) reviewing, with the management, the annual financial statements and auditor's report thereon before submission to the
board for approval, with particular reference to:
(a) matters required to be included in the director’s responsibility statement to be included in the board’s report in terms
of clause (c) of sub-section (3) of Section 134 of the Companies Act, 2013;
(b) changes, if any, in accounting policies and practices and reasons for the same;
(c) major accounting entries involving estimates based on the exercise of judgment by management;
(d) significant adjustments made in the financial statements arising out of audit findings;
(e) compliance with listing and other legal requirements relating to financial statements;
(f) disclosure of any related party transactions;
(g) modified opinion(s) in the draft audit report;
5) reviewing, with the management, the quarterly financial statements before submission to the board for approval;
6) reviewing, with the management, the statement of uses / application of funds raised through an issue (public issue, rights
issue, preferential issue, etc.), the statement of funds utilized for purposes other than those stated in the offer document /
prospectus / notice and the report submitted by the monitoring agency monitoring the utilization of proceeds of a public or
rights issue, and making appropriate recommendations to the board to take up steps in this matter;
7) reviewing and monitoring the auditor’s independence 23) Reviewing the follow up action taken on the audit
and performance, and effectiveness of audit process; observations of C & AG Audit;
8) approval or any subsequent modification of 24) Reviewing the follow up action taken on the
transactions of the listed entity with related parties; recommendations of Committee on Public
Undertakings (COPU) of the parliament;
9) scrutiny of inter-corporate loans and investments;
25) Reviewing the financial statement of the subsidiary
10) valuation of undertakings or assets of the listed entity, companies;
wherever it is necessary;
26) Review compliance of prohibition of Insider Trading
11) evaluation of internal financial controls and risk code;
management systems;
27) Review the declaration of financial statements by the
12) reviewing, with the management, performance of CEO/CFO.
statutory and internal auditors, adequacy of the
internal control systems; (D) Review of information by Audit Committee:
13) reviewing the adequacy of internal audit function, The audit committee shall mandatorily review the following
if any, including the structure of the internal audit information:
department, staffing and seniority of the official
heading the department, reporting structure coverage (1) management discussion and analysis of financial
and frequency of internal audit; condition and results of operations;
14) discussion with internal auditors of any significant (2) management letters / letters of internal control
findings and follow up there on; weaknesses issued by the statutory auditors;
15) reviewing the findings of any internal investigations (3) internal audit reports relating to internal control
by the internal auditors into matters where there is weaknesses; and
suspected fraud or irregularity or a failure of internal
(4) the appointment, removal and terms of remuneration
control systems of a material nature and reporting the
of chief internal auditor shall be subject to review by
matter to the board;
the audit committee.
16) discussion with statutory auditors before the audit
(5) statement of deviations:
commences, about the nature and scope of audit as
well as post-audit discussion to ascertain any area of (a) quarterly statement of deviation(s) including report
concern; of monitoring agency, if applicable, submitted to
stock exchange(s) in terms of Regulation 32(1).
17) to look into the reasons for substantial defaults in
the payment to the depositors, debenture holders, (b) annual statement of funds utilized for purposes
shareholders (in case of non-payment of declared other than those stated in the offer document/
dividends) and creditors; prospectus/notice in terms of Regulation 32(7).
18) to review the functioning of the whistle blower

mechanism; 4. Nomination and Remuneration Committee
19) approval of appointment of chief financial officer (A) Brief description of terms of reference
after assessing the qualifications, experience and
CIL being a Central Public Sector Undertaking, appointment
background, etc. of the candidate;
and tenure of Functional Directors are done by Govt. of
20) Carrying out any other function as is mentioned in the India. Their remuneration is also fixed by Govt. of India. A
Remuneration Committee was constituted by CIL Board
terms of reference of the audit committee.
of Directors in its 249th meeting held on 10th April’ 2009.
21) reviewing the utilization of loans and/ or advances from/ In compliance with Section 178 of Companies Act, 2013,
the Board had renamed the “Remuneration Committee”
investment by the holding company in the subsidiary
as “Nomination and Remuneration Committee” in its 303rd
exceeding H 100 crore or 10% of the asset size of the
meeting held on 14th Jul’14. This committee was last re-
subsidiary, whichever is lower including existing loans
constituted in the 433rd Board held on 12th November’2021
/ advances / investments existing as on the date of comprising of Three Independent Directors and One
coming into force of this provision permanent Invitee (Director P & IR).
22) Consider and comment on rationale, cost-benefits

and impact of schemes involving merger, demerger,
amalgamation etc., on the listed entity and its
shareholders.
002-115 116-332 333-513
(B) Composition, Name of members and chairperson and meeting details
The Composition of Nomination and Remuneration Committee is pursuant to the provisions of Section 178 of the Companies
Act, 2013 and Regulation 19 of SEBI LODR 2015.
During the year 2022-23, One (1) Nomination and Remuneration Meeting was held on 27.07.22. The details are as under:
Sl. No. of meetings

No attended
1. Prof. G. Nageswara Rao Independent Director Chairman 1
2. CA Kamesh Kant Acharya Independent Director Member 1
3. Dr. Arun Kumar Oraon Independent Director Member 1
4. Shri Vinay Ranjan Director (P & IR), CIL Permanent Invitee 1
(C) Role of Nomination and Remuneration committee: (D) Performance evaluation Criteria for Independent
Directors:
Role of committee shall, inter-alia, include the following:
MCA vide notification dated 5th July’2017 has exempted
1. Formulation of the criteria for determining qualifications, the same for Government Companies
positive attributes and independence of a director and
recommend to the board of directors a policy relating
to, the remuneration of the directors, key managerial 5 Stakeholders Relationship Committee.
personnel and other employees;
(A) Brief description of terms of reference
1A. For every appointment of an independent director,
Shareholders’ / Investors’ Grievance Committee was
the Nomination and Remuneration Committee
constituted by CIL Board of Directors in pursuance of
shall evaluate the balance of skills, knowledge and
Listing Agreement in its 258th meeting held on 05-08-2010.
experience on the Board and on the basis of such
In compliance with the provisions of Section 178(5) of the
evaluation, prepare a description of the role and
Companies Act, 2013 and Listing Agreement, the Board
capabilities required of an independent director. The
had renamed the “Shareholders’/Investors’ Grievance
person recommended to the Board for appointment
Committee” as “Stakeholders’ Relationship Committee” in
as an independent director shall have the capabilities
its 307th Board Meeting held on 29th May’2014.
identified in such description. For the purpose of
identifying suitable candidates, the Committee may: The committee was re-constituted in 433rd Board Meeting
held on 12th November 2021 comprising of 1 Independent
a) use the services of an external agencies, if
Director and two Functional Directors. The committee was
required;
again re-constituted at 445th Board meeting held on 10th
b) consider candidates from a wide range of August 2022 after appointment of Shri Debasish Nanda as
backgrounds, having due regard to diversity; and Director (Business Development) in CIL Board.
c) consider the time commitments of the candidates. The Stakeholders’ Relationship Committee is constituted
in line with the provisions of Regulation 20 of SEBI Listing
2. Formulation of criteria for evaluation of performance of Regulations read with Section 178(5) of the Companies Act
independent directors and the board of directors; 2013.
3. Devising a policy on diversity of board of directors; B) The role of Stakeholder Relationship Committee
includes the following:
4. Identifying persons who are qualified to become
directors and who may be appointed in senior (1) Resolving the grievances of the security holders of the
management in accordance with the criteria laid listed entity including complaints related to transfer/
down, and recommend to the board of directors their transmission of shares, non-receipt of annual report,
appointment and removal. non-receipt of declared dividends, issue of new/
duplicate certificates, general meetings etc.
5. Whether to extend or continue the term of appointment
of the independent director, on the basis of the report (2) Review of measures taken for effective exercise of
of performance evaluation of independent directors. voting rights by shareholders.
6. Recommend to the board, all remuneration, in whatever (3) Review of adherence to the service standards adopted
form, payable to senior management. by the listed entity in respect of various services being
rendered by the Registrar & Share Transfer Agent.
(4) Review of the various measures and initiatives taken by the listed entity for reducing the quantum of unclaimed dividends
and ensuring timely receipt of dividend warrants/annual reports/statutory notices by the shareholders of the company.
C) Composition, name of the non-executive director heading the committee and Meeting Details
During the year 2022-23, One (1) Stakeholders Relationship Committee meeting was held on 22.08.22.
This Committee consisted of following Directors and their attendance was as follows:
Sl. No. of Meeting

Name of the Director and Date Designation Status
No attended
1. CA Denesh Singh Independent Director and Non- 1
Chairman
Executive
2. Shri Vinay Ranjan Director ( P & IR) Member 1
3. Shri Pramod Agrawal Director (Fin.) Addl. Charge-Upto 9th 0
Member
August 2022
4. Shri Debasish Nanda Director (Business Development)- 1
Member
From 10th Aug’22
D) Name and designation Compliance officer:
Shri M. Viswanathan was Compliance officer till 30th Sep’22. Shri B.P Dubey was appointed as Compliance officer w.e.f.
1st Oct’22.
E) Redressal of Investors’ Grievances:
The company addresses all complaints and grievances of the investors expeditiously and usually resolves the issue within 7
days except in case of dispute over facts or other legal constraints. The complaints were duly attended by the Company/ RTA.
F) Settlement of Grievances
Investors may register their complaints in the manner stated below: -
Sl.
Nature of Complaint Contact Officers
No
1 Dividend from Financial Years 2016-17 to M/s. Alankit Assignment Limited
2022-23 and shares held in physical mode 205-208 Anarkali Complex Jhandewalan Extension
For Physical Shares: Change of address, New Delhi – 110 055
Status, Bank Account, ECS mandate etc. Phone No: 011-4254-1234/2354-1234
Toll free no-1860-121-2155
Website-www.alankit.com
2 For Demat of Shares: - Concerned Depository participant (DP) where the Shareholder is
Change of address, Status, Bank Account, maintaining his/her account
ECS mandate etc.
3 All complaints except Sl. No 1&2 Company Secretary, Coal India Limited, Coal Bhawan, 3rd floor, Core-
2, Action Area 1A, Newtown Rajarhat, Kolkata-700156.Phone No-033-
2324-5555
Email-complianceofficer.cil@coalindia.in
CIN-L23109WB1973GOI028844
G) Investor Relation Cell
In line with global practices, the Company is committed to maintain the highest standards of Corporate Governance reinforcing
the relationship between the company and its Shareholders. Information frequently required by the Investors and Analysts are
available on the Company’s corporate website www.coalindia.in under “Investor Centre”. This website provides updates on
investor-related events and presentations, dividend information and shareholding pattern etc. Updates on Financial Statement
and Annual Report are available under ‘Performances/Financial’ tab. The company is committed to take such other steps as
may be necessary to fulfill the expectations of the stakeholders. Shri S. K. Mehta, ED (finance) & CFO has been designated as
Investor Relation Officer.
002-115 116-332 333-513
H) Unclaimed Dividend Status as on 31.03.2023 & Due Date of transfer to IEPF: -
Due date of
DESCRIPTION AMOUNT (in J)
transfer to IEPF
IST INTERIM 2016-17 15646122.50 05.04.2024
2ND INTERIM 2016-17 1927920.50 25.04.2024
INTERIM DIVIDEND 2017-18 9268427.00 09.04.2025
IST INTERIM DIVIDEND 2018-19 9501395.00 19.01.2026
2ND INTERIM DIVIDEND 2018-19 7643960.00 13.04.2026
INTERIM DIVIDEND 2019-2020 14993089.00 11.04.2027
IST INTERIM DIVIDEND 2020-21 9844375.00 10.12.2027
FINAL DIVIDEND 2020-21 6545192.00 14.10.2028
1ST INTERIM DIVIDEND 2021-22 12712692.00 28.12.2028
FINAL DIVIDEND 2021-22 6094441.00 29.09.2029
1ST INTERIM DIVIDEND 2022-23 18644700.00 06.12.2029
The Interim Dividend amount for the year 2015-16 amounting to H 1,61,82,451/- was transferred to IEPF Account on 17th
April’2023. In addition, 32520 shares in respect of which dividend remained unclaimed for the last 7 years had also been
transferred to IEPF Account on 28.04.23. The details are available in CIL website. The Company had sent periodic intimation to
shareholders concerned to lodge their claims with the Company/RTA within the stipulated time or else the unclaimed dividend
along with shares will be transferred to IEPF Account as stipulated under Companies Act’2013.
I) Status of complaints as on 2022-23(Quarter wise): -
Quarter Opening Received Resolved Pending

1st Qtr. 0 2 2 0
2nd Qtr. 0 4 4 0
3rd Qtr. 0 7 7 0
4th Qtr. 0 7 7 0
Consumer Forum Cases
Year Opening Received Resolved Pending

2022-23 1 0 0 1*
*ATR had been filed with the appropriate authorities. Awaiting final order from consumer court. All these cases pertained to IPO issued in 2010.
5A Risk Management Committee. entity, in particular including financial, operational,

sectoral, sustainability (particularly, ESG related
(A) Brief description of terms of reference risks), information, cyber security risks or any other
risk as may be determined by the Committee.
Corporate Governance including Risk Assessment and
Minimization Procedures Committee was constituted by (b) Measures for risk mitigation including systems
CIL Board of Directors in its 273rd meeting held on 20-09- and processes for internal control of identified
2011. This committee was renamed as Risk Management risks.
Committee by CIL Board in its 307th meeting held on 29th
May 2014 and is in line with Regulation 21 of SEBI (LODR) (c) Business continuity plan.
Regulation, 2015. This committee was reconstituted at 441st
ii. To ensure that appropriate methodology, processes
Board meeting held on 25th May 2022 with 2 Independent
and systems are in place to monitor and evaluate risks
Directors, 2 Functional directors and 2 senior executives
associated with the business of the Company;
(CFO and CRO).
iii. To monitor and oversee implementation of the risk
The role of the committee shall, inter alia, include the
management policy, including evaluating the adequacy
following:
of risk management systems;
i. To formulate a detailed risk management policy which
iv. To periodically review the risk management policy, at
shall include:
least once in two years, including by considering the
(a) A framework for identification of internal and changing industry dynamics and evolving complexity;
external risks specifically faced by the listed
v. To keep the board of directors informed about the nature and content of its discussions, recommendations and actions to
be taken;
vi. The appointment, removal and terms of remuneration of the Chief Risk Officer (if any) shall be subject to review by the Risk
Management Committee.
(b) Composition, name of members and chairperson and meeting details
During the year, 2022-23, Two (2) meetings were held on 06.09.22 and 01.03.23 attendance of Directors was as follows:
Sl. No. of Meeting

No attended
1. Dr. Arun Kumar Oraon Independent Director Chairman 2
2. Shri Punambhai Kalabhai Independent Director 2
Member
Makwana
3. Shri S.N. Tiwary (upto 30.04.22) Director ( P& IR) Member -
4. Dr B. Veera Reddy Director (Technical) Member 2
5. Shri Vinay Ranjan Director ( P& IR) 1
Member
(member w.e.f from 25.05.22)
6. Shri Anjani Kumar CRO/ GM (NI), CIL Member 2
7. Shri S.K. Mehta ED ( Fin)/CFO, CIL Member 2
5B Share Transfer Committee.
A Share Transfer Committee was constituted by CIL Board of Directors in its 262nd meeting held on 22-11-2010. The committee
was reconstituted at 441st Board Meeting held on 25th May 2022 after superannuation of Shri S N Tiwary Director (Marketing).
This committee was further reconstituted at 445th Board Meeting held on 10th August 2022 with 3 Functional Directors. The
Share Transfer Committee looks into the following-
a) Transfer or Transmission of Shares. and
b) Issue Duplicate Certificates and new Certificates on split /consolidation/renewal/demat to remat etc.
During the year 2022-23, One (1) meeting of the committee was held on 22.12.2022.
The Share Transfer Committee consisted of following Directors and their attendance was as follows:
Sl. No. of Meeting

No attended
1 Shri S N Tiwary Director ( Mkg.) Chairman (From 01.02.2022 -
upto 30.04.2022)
2 Shri Vinay Ranjan Director ( P & IR) Chairman (From 10.08.2022) 1
3 Dr B. Veera Reddy Director (Technical) Member 1
4 Shri Debasish Nanda Director (Business Development) Member (from 10.08.2022) 1
5C Corporate Social Responsibility Committee.
Sustainable Development Committee including CSR was constituted by CIL Board of Directors in its 282nd meeting held on
16-04-2012. This Committee was renamed as CSR Committee in pursuant to Section 135 of the Companies Act, 2013 and the
Companies (Corporate Social Responsibility) Rules, 2014.This committee was reconstituted on 12th November 2021 comprising
of 2 Independent Directors, 1 Govt. Nominee Director and 1 Functional Director.
During the year 2022-23, Five (5) meeting of the committee was held on 25.05.22, 29.07.22, 08.09.22, 08.12.22 and 17.03.23.
The Corporate Social Responsibility Committee consisted of following members and their attendance was as follows:
Sl. No. of Meeting

No attended
1 Shri B. Rajesh Chander Independent Director Chairman 5
2 Smt. Nirupama Kotru Govt. Nominee Director Member 4
3 Shri Punambhai Kalabhai Independent Director 5
Member
Makwana
4 Shri Vinay Ranjan Director ( P & IR) Member 5
002-115 116-332 333-513
5D Empowered Sub-Committee for Evaluation, Appraisal and Approval of Projects:
An Empowered Sub-Committee for Evaluation, Appraisal and Approval of Projects was formed by CIL Board for Evaluation,
Appraisal and Approval of Projects. This committee was reconstituted from time to time and the last reconstitution was done
in 434th Board Meeting held on 29th November 2021. This is not a statutory committee as per Companies Act’13 or Listing
Regulations but constituted to assist Board to evaluate the Project Report before it is placed to Board. During the year 2022-23,
Four (4) Sub-Committee Meetings were held on 22.06.22, 29.09.22, 28.11.22 and 15.02.23.
5E Separate Meeting of Independent Directors.
As per Companies Act, 2013 and Regulation 25(3) & (4) of SEBI Listing Obligations and Disclosure Requirement 2015,
Independent Directors are required to hold at least one meeting in a year.
In the financial year 2022-23, one Independent Director meeting was held on 17th May 2022.All the Six Independent Directors
had attended the meeting.
6. Remuneration of Directors:
Remuneration of Functional Directors are decided as per the DPE guidelines issued by the Government of India.
A. Details of remuneration paid to Functional Directors of the Company during the financial Year 2022-23 were as under:
Sl.
Name of the Director Salary Benefits** Total (in J) Remarks
No
1 Shri Pramod Agrawal 6076551.84 1155506.39 7232058.23
2 Shri Vinay Ranjan 5241756.04 848534.52 6090290.56
3 Dr B. Veera Reddy 5895169.23 867359.30 6762528.53
4 Shri S N Tiwary 6467619.12* 443967.02 6911586.14 Superannuated on 30.04.22
5 Shri Debasish Nanda 3537889.51 71,044.41 3608933.92 Joined on 11.07.22
6 Shri Mukesh Choudhary 908825.49 0.00 908825.49 Joined on 23.12.22
Note:_
*Salary of Shri S.N. Tiwary includes Gratuity amount of H 20,00,000/- leave encashment amount of H 17,60,759/- and PRP
Amount of H 855597.72(of FY 2020-21) paid to him on superannuation.
**Further Benefit includes performance linked incentives, other allowances and perquisites. However, Company does not
provide any Stock Options to Director.
(B) Criteria of making payments to non-executive directors (Independent Directors)
Govt. Nominee Directors are not paid any fees/Salary for attending the meeting. Sitting fees payable to Independent
Directors is fixed by the Board of Directors of CIL in pursuance of DPE guidelines and Companies Act 2013. Accordingly,
the Board had decided payment of sitting fees for each meeting of the Board and Committee of the Board @ H 40,000/- and
H 30,000/- respectively to each Independent Director in its 327th meeting held on 28th May’2016.
The Independent Directors do not have any material pecuniary relationship or transactions with the Company. Details of
sitting fees paid to Independent Directors during the year 2022-23 were given below:
Sitting Fees for Sitting Fees for

Name of the Independent Director Total (in J)
Board Meeting Committee Meetings
Prof. G. Nageswara Rao 4,40,000 4,50,000 8,90,000
Dr Arun Kumar Oraon 4,40,000 2,40,000 6,80,000
CA Kamesh Kant Acharya 4,40,000 4,50,000 8,90,000
CA Denesh Singh 4,40,000 3,30,000 7,70,000
Shri Punambhai Kalabhai Makwana 4,40,000 2,40,000 6,80,000
Shri B. Rajesh Chander 4,40,000 5,40,000 9,80,000
Shri Ghanshyam Singh Rathore - - -
7. General Body Meetings
A. Location and time, where last three annual general meetings held
Financial Year. Date. Time. Location.

2021-22 30.08.2022 11:00 AM Coal India Limited
Board Room, 5th Floor, Coal Bhawan,
Kolkata-700156 via [Video Conferencing/ OVAM]
2020-21 15.09.2021 11.00 AM Coal India Limited
2019-20 23.09.2020 10.30 AM Coal India Limited
B. Particulars of Special Resolutions passed at the last three AGM:
AGM Year Time Particulars of Special Resolution

48th 30.08.2022 11:00 AM Alteration of Memorandum and Articles of
Association
47th 15.09.2021 11.00 AM NIL
46th 23.09.2020 10.30 A.M. To create a Board level post of Director (Business
Development) in CIL.
C. Particulars of Special Resolution passed through Postal Ballot and details of voting pattern in 2022-23:
i) Following Seven resolutions were approved by the members with the requisite majority in the EGM through Postal Ballot
dated 13th April' 22 by way of remote e-voting: -
1. Appointment of CA Denesh Singh, [DIN: 08038875] to function as an Independent Director for the remaining period of
his tenure. - Special Resolution
2. Appointment of Shri Nageswara Rao Gollapalli, [DIN: 08461461] to function as an Independent Director for the
remaining period of his tenure. - Special Resolution
3. Appointment of Shri Bhojarajan Rajesh Chander, [DIN: 02065422] to function as an Independent Director for the
4. Appointment of Shri Punambhai Kalabhai Makwana, [DIN: 09385881] to function as an Independent Director for the
5. Appointment of CA Kamesh Kant Acharya, [DIN: 09386642] to function as an Independent Director for the remaining
period of his tenure. - Special Resolution
6. Appointment of Dr. Arun Kumar Oraon, [DIN: 09388744] to function as an Independent Director for the remaining period
of his tenure. - Special Resolution
7. Appointment of Dr. B. Veera Reddy,[ DIN- 08679590] as a Whole Time Director to function as Director (Technical), CIL-
Ordinary Resolution
ii) One Resolution was approved by the members with the requisite majority in the EGM through Postal Ballot dated 14th Feb'
23 by way of remote e-voting for :-
1. Appointment of Shri Mukesh Choudhary [DIN: 07532479] as a Whole Time Director to function as Director (Marketing), CIL-
Ordinary Resolution
D. Person who conducted Postal Ballot Exercise in 2022-23: - CS Rakhi Dasgupta of M/s. Rakhi Dasgupta & Associates,
Practicing Company Secretary, Kolkata had been appointed as Scrutinizer for E-voting for EGM through Postal Ballot for both
the above activities.
E. Whether any special resolution is proposed to be conducted through e-voting- No.
F. Detailed Procedure for Postal Ballot- E-voting activity is available under tab ‘Investor Centre, Events and Announcement” of
Coal India website.
002-115 116-332 333-513
8. Means of Communication:
a) Quarterly Results and Newspaper publication:
The Company communicates with its shareholders through its Annual Report, General Meetings and disclosures through
website. The Company also communicates with its institutional shareholders through a combination of Analysts briefing, Audio/
Video Conference Call, Individual discussions and also participation at Investor Conferences from time to time. Quarterly
Financial Results were also disclosed to the Stock Exchanges and were published in the newspapers as per the details given
below. Information and latest updates and announcement regarding the company can be accessed at company’s website under
tab “Investor Centre, Event & Announcements”
Quarter English Newspaper Vernacular Newspaper

June’ 22 The Times of India Aajkal
September’ 22 Business Standard Aajkal
December’ 22 Mint Bartaman
March’ 23 The Hindu Business Line Ei Samay
b) Official Releases and Presentations:
In order to make general public aware about the achievements of the company, highlights of the performance of the company
are briefed to the Press for information of the stakeholders after it is intimated to Stock Exchanges.
c) Presentation made to the Institutional Investors and Analysts: -
The salient features of financial results are on company website for the information of Institutional Investors, Analysts and
general public after it is intimated to Stock Exchanges.
9. General Shareholders’ Information:
a) Annual General Meeting.

Date: 23 August’23
Day: Wednesday
Time: 11 A.M.
Venue: Coal Bhawan, Premises 04-MAR, Action Area 1A, Newtown Rajarhat Kolkata-700156 through Video conferencing (VC)/
Other Audio Visual Means (OAVM)
b) Financial Calendar for FY 2023-24:
Particulars Date
Accounting period April 1, 2023 to March 31, 2024
Unaudited Financial Results for the first three quarters Within 45 days from the end of quarter.
Fourth Quarter Results Announcement of Audited Accounts on or before May, 30, 2024.
AGM (Next Year) August’2024
c) Record Date.
The Company has fixed the 18 August’23 as the Record date to determine the Shareholders who are eligible to
receive Final Dividend.
d) Payment of Dividend.
Shareholders of CIL in its Annual General Meeting held on 30th August 2022 had approved payment of final dividend @ H 3.00
per share (30%) on equity shares for the financial year 2021-22 and the same was paid from 7th September 2022. CIL Board
in its meeting held on 7th November’ 22 had approved payment of 1st Interim Dividend @ H 15 per share (150% on the paid-up
share capital) to shareholders and the same was paid by 6th December’2022. CIL Board in its meeting held on 31st January
2023 had approved payment of 2nd Interim Dividend @ H 5.25 per share (52.5% on the paid-up share capital) to shareholders
and the same was paid by 2nd March’2023. In the 451st Board Meeting held on 7th May’23, Board had recommended payment
of final dividend @ 4.00 per share for 2022-23 and the same would be paid if approved by shareholders in the ensuing AGM.
e) Dividend History.
Total Paid up Total amount of Rate of

Year Share Capital dividend paid Date of AGM Dividend
(J in crore) (J in crore) (in %)
2010-11 6316.36 2463.38 20-09-2011 39
2011-12 6316.36 6316.36 18-09-2012 100
2012-13 6316.36 8842.91 18-09-2013 140
2013-14 6316.36 18317.46 10-09-2014 290
2014-15 6316.36 13074.88 23-09-2015 207
2015-16 6316.36 17306.84 21-09-2016 274
2016-17 6207.40 12352.76 14-09-2017 199
2017-18 6207.40 10242.23 12-09-2018 165
2018-19 6162.73 8105.58 21-08-2019 131
2019-20 6162.73 7395.27 23-09-2020 120
2020-21 6162.73 9860.40 15-09-2021 160
2021-22 6162.73 10476.64 30-08-2022 170
2022-23 6162.73 14944.66 Two Interim Dividends 242.5
and final Dividend
proposed for 2022-23
f) Listing on Stock Exchanges.

CIL equity shares are listed in the following Stock Exchanges:
National Stock Exchange of India Limited. Scrip Code: Bombay Stock Exchange Limited.
COAL INDIA Scrip Code: 533278.
Stock Code: ISIN: INE522FO1014.
i) Annual Listing fees for the year 2022-23 has already been paid to both the Stock Exchanges.
ii) No securities of CIL were suspended from trading in BSE and NSE
g) Market Price Data- BSE:
Month High (in J) Low (in J) Closing (in J)

Apr-22 209.00 182.00 183.10
May-22 195.20 164.75 193.05
Jun-22 201.95 174.60 185.50
Jul-22 212.35 176.80 211.35
Aug-22 235.40 205.50 234.85
Sep-22 241.85 207.90 212.30
Oct-22 247.85 212.25 245.90
Nov-22 263.30 226.15 227.30
Dec-22 234.30 214.20 225.15
Jan-23 231.35 211.25 224.90
Feb-23 228.80 209.45 215.15
Mar-23 227.00 207.70 213.65
Stock Performance of Coal India vis –a –vis Sensex (Based on closing Price)
CIL & BSE
300 64,000
62,000
COAL INDIA CLOSING PRICE
BSESENSEX CLOSING PRICE
250
60,000
200 58,000
56,000
150
54,000
100 52,000
50,000
50
48,000
0 46,000
r- 22 - 22 22 22 22 22 22 22 22 23 23 23
ay n- Ju
l- g- p- t- v- c- n- b- ar
-
Ap M Ju Au Se Oc No De Ja Fe M
Closing Price of CIL at BSE Closing Price of SENSEX

002-115 116-332 333-513
h) Market Price Data- NSE:
Month High (in J) Low (in J) Closing (in J)

Apr-22 209.00 181.90 182.85
May-22 195.25 164.65 192.90
Jun-22 201.95 174.75 185.60
Jul-22 212.45 176.60 211.25
Aug-22 235.50 205.75 234.80
Sep-22 240.50 207.85 212.25
Oct-22 247.80 212.30 245.95
Nov-22 263.40 226.35 227.25
Dec-22 234.45 214.20 225.05
Jan-23 232.00 211.10 224.85
Feb-23 228.00 209.15 215.40
Mar-23 226.95 207.60 213.65
Stock performance of Coal India vis a vis NIFTY (based on closing price)
CIL & NSE

300 19,000
18,500
NSE SENSEX CLOSING PRICE

COAL INDIA CLOSING PRICE
250
18,000
17,500
200
17,000
150 16,500
16,000
100
15,500
15,000
50
14,500
0 14,000
2 2 2 2 2 2 2 2 2 3 3 3
r-2 ay
-2 n -2 l-2 g -2 p -2 t-2 v -2 c -2 n -2 b -2 r-2
Ap M Ju Ju Au Se Oc No De Ja Fe M
a
Closing Price of CIL at NSE Closing Price of NIFTY
i) Registrar to Issue and Share Transfer Agent
Registered Address: Local Address:

M/s. Alankit Assignment Limited Alankit Assignments Limited
205-208 Anarkali Complex Jhandewalan Extension, 3B, Ground Floor Lal Bazar Street,
New Delhi – 110 055 Kolkata-700001, INDIA.
Phone No: 011-4254-1234/4254-1934 Email-id-rta@alankit.com
E-mail id: rta@alankit.com, Phone no-033-4401-4100/4200
lalitap@alankit.com Toll Free No: 1860-121-2155
Toll free no-1860-121-2155 Website-www.alankit.com
j) Share Transfer System
Pursuant to Regulation 40(1) of SEBI Listing Regulations, as amended, securities can be transferred only in dematerialized form
w.e.f 1st April’ 2019. Shareholders holding equity shares in physical form are requested to consider converting their holding to
dematerialized form. Transfers of equity shares in electronic form are effected through the depositories without any involvement
of the Company.
k) Distribution of Shareholding
Shares held by different categories of shareholders and size of holdings as on 31st March, 2023 is given below:
i) Shareholding pattern as on 31st March, 2023
Category No of Shareholders No of Shares % of Equity

PROMOTERS 1 4075634553 66.13
INSURANCE COMPANIES 86 738688222 11.98
MUTUAL FUND 152 536657210 8.70
FOREIGN PORTFOLIO - CORP. 554 482947531 7.80
INDIVIDUALS 1318805 237699309 3.85
DOMESTIC COMPANIES 2677 39803995 0.64
NATIONALISED BANKS 6 9521631 0.15
HUF 18518 8808538 0.14
FINANCIAL INSTITUTIONS 15 7899062 0.12
NRI REP 9920 7111835 0.11
CENTRAL GOVERNMENT 3 5817032 0.09
NRI NON-REP 7041 5751309 0.09
ALTERNATIVE INVESTMENT FUND 30 3436791 0.05
CLEARING MEMBERS 156 1277657 0.02
TRUSTS 82 995967 0.01
OTHER BANK 9 527413 0.00
INVESTOR EDUCATION AND PROTECTION FUND 1 117614 0.00
FOREIGN INSTITUTIONAL INVESTORS 1 21000 0.00
FOREIGN PORTFOLIO - IND. 2 7600 0.00
FOREIGN NATIONAL /ENTITY 3 3013 0.00
OTHERS 1 1000 0.00
OVERSEAS CORPORATE BODIES 1 45 0.00
Total 1358064 6162728327 100.00
ii) Top Ten shareholders as on 31st March’ 2023:
Sr Holding in % to the total

Name/Address
No. Shares Capital
1 PRESIDENT OF INDIA 4075634553 66.13
2 LIFE INSURANCE CORPORATION OF INDIA 602028957 9.76
3 CPSE EXCHANGE TRADED SCHEME (CPSE ETF) 159174997 2.58
4 HDFC TRUSTEE COMPANY LTD. A/C HDFC BALANCED ADVANTAGE FUND 98170711 1.59
5 LIFE INSURANCE CORPORATION OF INDIA - P & GS Fund 75694235 1.22
6 PARAG PARIKH FLEXI CAP FUND 68459428 1.11
7 SBI NIFTY 50 ETF 39018848 0.63
8 GQG PARTNERS EMERGING MARKETS EQUITY FUND 36716564 0.59
9 HDFC TRUSTEE COMPANY LTD. A/C HDFC TOP 100 FUND 27557721 0.44
10 VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND 27146626 0.44
Grand Total 5209602640 84.53
iii) Distribution of shareholding according to size, % of holding as on 31st March, 2023:
% of
Name/Address No of Cases % of Cases Total Shares Amount
Amount
1-5000 1352827 99.6144 195133011 1951330110 3.1663
5001-10000 2724 0.2006 19875579 198755790 0.3225
10001-20000 1117 0.0822 15853705 158537050 0.2572
20001-30000 327 0.0241 8050930 80509300 0.1306
002-115 116-332 333-513
% of
Name/Address No of Cases % of Cases Total Shares Amount
Amount
30001-40000 176 0.0130 6170483 61704830 0.1001
40001-50000 123 0.0091 5707047 57070470 0.0926
50001-100000 224 0.0165 15837866 158378660 0.2569
Above 100000 546 0.0402 5896099706 58960997060 95.6735
Total 1358064 100 6162728327 61627283270 100
iv) Major Shareholders: -
Details of shareholders holding more than 10% of paid up capital of the Company as on 31st March, 2023 are given below:
Name of Shareholder No of Shares % to Paid – up Capital Category

President of India 4075634553 66.134 POI
L) Dematerialization of Shares and Liquidity
Shares of the Company issued to the Public are in dematerialized segment and are available for trading at National Securities
Depository Ltd. (NSDL) and Central Depository Services (India) Ltd (CDSL). This includes CPSE ETF and Bharat 22 ETF which
can be traded in Stock Exchanges. Shares held by GOI are also in demat form.
No of shares held in dematerialized and physical mode as on 31st March’ 23:
Mode of holding Shares % Equity

Held in dematerialized form in CDSL 275696161 4.47
Held in dematerialized form in NSDL 5887028628 95.50
Physical 3538 0.03
Total 6162728327 100
M) Reconciliation of Share Capital Audit imported coal as per the guidance of MOC and request
from Customers. Fluctuation in international Coal Prices
As required by Securities & Exchange Board of India and Foreign Exchange were borne by consumers and
(SEBI), quarterly audit of Reconciliation of share capital is hence CIL was not directly exposed to Commodity Price
being carried out by a peer reviewed practicing Company Risk or Foreign Exchange Risk. However, CIL charged
Secretary with a view to reconcile the total share capital facilitation fees on Sale of Imported Coal, which has
with National Securities Depository Limited (NSDL) and indirect exposure to international Coal Prices and Foreign
Central Depository Services (India) Limited (CDSL) and Exchange. However, the quantum of Facilitation Fee during
in physical form, with the issued and listed capital. The FY 2022-23 is considered to be insignificant. In case of
Secretarial Audit Report for reconciliation of share capital is domestic operations, it is observed that CIL earns better
submitted to BSE Limited and National Stock Exchange of e-auction premium when landed cost of international coal
India Limited within the stipulated time for each quarter. in India are high.
N) Outstanding global depository receipts or P) The names and address of the Depositories are
American depository receipts or warrants or any as under:
convertible instruments, conversion date and
likely impact on equity 1. National Securities Depository Ltd.
Company has not issued any ADR or GDR or warrant or Trade World, 4th Floor,
any convertible instruments, Kamala Mills Compound,
Senapati Bapat Marg,
O) Disclosure of Commodity price risk or foreign Lower Parel, Mumbai-400 013.
exchange risk and hedging activities
2. Central Depository Services (India) Limited.
Company is currently insulated from Foreign Exchange
Risk and Commodity Price Risk. CIL majorly produces and Phiroze Jeejeebhoy Towers,
sale coal within India only. During FY 2022-23, CIL has 17th Floor, Dalal Street Fort, Mumbai – 400 001.
Q) Details of Subsidiaries of Coal India Ltd and its Plant Location :-
At present, Coal India Ltd. has eleven wholly owned Subsidiaries. The details are as under :-
Name of the Subsidiary Company Location

(A) Coal Producing Companies:
(i) Eastern Coalfields Ltd.(ECL) Sanctoria, Dishergarh, West Bengal
(ii) Bharat Coking Coal Ltd (BCCL) Dhanbad, Jharkhand.
(iii) Central Coalfields Ltd (CCL) Ranchi, Jharkhand.
(iv) Western Coalfields Ltd (WCL) Nagpur, Maharashtra.
(v) South Eastern Coalfields Ltd (SECL) Bilaspur, Chhattisgarh.
(vi) Northern Coalfields Ltd (NCL) Singrauli, Madhya Pradesh.
(vii) Mahanadi Coalfields Ltd(MCL) Sambalpur, Odisha
(B) Service Oriented Company:
(viii) Central Mine Planning & Design Institute Limited (CMPDIL) Ranchi, Jharkhand.
(C) Foreign Subsidiary Company:
(ix) Coal India Africana Limitada (CIAL) Tete, Mozambique
(D) Renewal Energy Companies:
(x) CIL Navikarniya Urja Limited (CNUL) Kolkata, West Bengal
(xi) CIL Solar PV Limited (CSPL) Kolkata, West Bengal
(E) Joint Venture Companies of CIL:
(i) Hindustan Urvarak & Rasayan Ltd. (HURL)

(ii) Talcher Fertilizers Limited (TFL)
(iii) Coal Lignite Urja Vikas Private Limited (CLUVPL)
(iv) CIL NTPC Urja Pvt Limited (CNUPL)
(v) International Coal Ventures Pvt. Limited (ICVL)
R) Address for Correspondence.
Coal Bhawan
Premises No-04-MAR.Plot No-AF-III
Action Area-1A, Newtown, Rajarhat
Kolkata- 700156.
Phone- 033-2324-5555.
E –mail: complianceofficer.cil@coalindia.in.
CIN-L23109WB1973GOI028844
S) Credit Ratings
Coal India Limited has obtained following Credit rating from CRISIL for the financial year 2022-23:
Total Bank Loan Facilities Rated H 9550 crore (Enhanced from H 5550 crore)
Long Term Rating CRISIL AAA/Stable (Reaffirmed)
Short Term Rating CRISIL A1+ (Reaffirmed)
Corporate Credit Rating CCR AAA/Stable
10. Other Disclosures
A) Disclosures on materially significant related party transactions that may have potential conflict with the
interests of listed entity at large
During the year, there was no transaction of material nature with Related Parties that had potential conflict with the interests of
the Company. As required under Regulation 23(1) of SEBI (LODR) Regulations, 2015, the Company has formulated a revised
policy on dealing with Related Party.
002-115 116-332 333-513
B) Details of Non- Compliances and Fines levied By D) Details of compliance with mandatory
BSE & NSE in last 3 years requirements and adoption of the non-mandatory
requirements
The Company had complied with requirements of
Regulatory Authorities on capital markets and no penalties/ Company has complied with all the mandatory requirements
strictures was imposed against it in the last three years by of Corporate Governance. The details of Non-Mandatory
Stock Exchange or SEBI or any other Statutory Authority. requirements is mentioned in Annexure-I
However, fine has been levied by BSE & NSE for the calendar
year 2020, 2021 and 2022 for all four quarters. This fine had E) Web link where policy for determining ‘material’
been levied for non-compliance of some of the provisions subsidiaries is disclosed
of LODR with regard to appointment of required number
Mahanadi Coalfields Limited (MCL) became a material
of Independent Directors including a woman Independent
subsidiary as its income or net worth exceeded 20% of
Director, absence of quorum in the Board Meetings and
CIL (consolidated) income or net worth as on 31st March
non-constitution of Audit committee, Nomination and
2023. The Consolidated Financial Statements of Coal India
Remuneration Committee, Corporate Social Responsibility
limited and its Subsidiary Companies are placed at the Audit
Committee & Stakeholder Relationship Committee from 6th
Committee and Board Meetings on quarterly basis. Copies
Sept’ 2020 to 31st October’ 2021. From 1st November’21 to
of the Minutes of Board Meetings of Subsidiary Companies
5th November’21, 6 Independent Directors were appointed
along with a Statement of Significant Transactions and
in CIL Board. Therefore, on 12th November’2021, all the
Arrangements entered into by the unlisted subsidiary
statutory committees to the Board were reconstituted in
company are also placed to CIL Board. Details of Policy
accordance with LODR 2015 and Companies Act 2013.
were disclosed in company website under tab “Investor
Company has also informed both exchanges that being
Centre, Event & Announcements”.
a Public Sector company, appointment of Director vests
with the President of India and company took up the https://d3u7ubx0okog7j.cloudfront.net/documents/
matter with Ministry of Coal, its administrative Ministry P O L I C Y _ F O R _ D E T E R M I N I N G _ M AT E R I A L _
even before the vacancy arose as well as subsequent to SUBSIDIARIES_21032015.pdf
the vacancies with a request to appoint required number
of Independent Directors including a woman Independent F) Web link where policy on dealing with related
Director and requested the Stock Exchanges to waive the party transactions
fine levied on the company. BSE Limited vide email dated
Details of Policy on dealing with Related party transactions
19th April’2021, waived the fine levied for the quarters
were disclosed in company website under tab “Investor
September 2020 and December 2020. NSE vide its
Centre, Event & Announcements”.
email dated 10th November.’2022 had waived the various
penalties. Company has taken up the matter with BSE & https://d3u7ubx0okog7j.cloudfront.net/documents/
NSE to waive the fine levied for the remaining quarters for Related_Party_cOumNP8.pdf
the calendar years 2020, 2021 and 2022.
G) Details of utilization of funds raised through
C) Details of establishment of vigil mechanism preferential allotment or qualified institutions
placement as specified under Regulation 32 (7A).
Pursuant to Section 177(9) & (10) of Companies Act,
2013 and Regulation 22 of SEBI LODR Regulations 2015, Company has not raised any fund through preferential
the company had formulated Whistle Blower Policy to allotment or qualified institutions
enable the individual employees to freely communicate
the concerns about illegal and unethical practices in the H) A certificate from a company secretary in practice
company. This Policy was approved in 222nd Board meeting that none of the directors on the board of the
held on 12th August, 2011 and is applicable to CIL and its company have been debarred or disqualified
Subsidiaries. from being appointed or continuing as directors
of companies by the Board/Ministry of Corporate
CIL had provided ample opportunities to encourage directors Affairs or any such statutory authority
and employees to become whistle blowers (Directors and
employees who voluntarily and confidentially want to bring Company has obtained a certificate from M/s. S. Basu &
the unethical practices, actual or suspected fraudulent Associates and same is enclosed as Annexure IV
transactions in the organization to the notice of competent
authority for the greater interest of the organization and the I) where the board had not accepted any
nation). It has also ensured a very robust mechanism within recommendation of any committee of the board
the framework to protect them (whistle blowers) from any which is mandatorily required, in the relevant
kind of harm. It is hereby affirmed that no personnel have financial year, the same to be disclosed along
been denied access to the Audit committee. with reasons thereof
CIL Board has accepted all the recommendation of all the

Sub-Committees of the Board for the financial year 2022-23.
J) Total fees for all services paid by the listed entity and its subsidiaries, on a consolidated basis, to the
statutory auditor and all entities in the network firm/network entity of which the statutory auditor is a part
Details of total fees paid to Statutory Auditors are given in the Consolidated Accounts of the Company and are also as under:-
(H in Lakhs)
Type of service Fiscal 2023 Fiscal 2022
Audit fees 266 271
Tax fees 29 24
Others 131 135
Total 426 430
K) Disclosures in relation to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and
Redressal) Act, 2013
No. of Complaint No of Complaint

No of Complaint filed
disposed Pending
1 1 NIL
L) Disclosure by listed entity and its subsidiaries of ‘Loans and advances in the nature of loans to firms/
companies in which directors are interested by name and amount
Company has not provided any loans and advances to any firms/companies in which directors are interested
N) Details of material subsidiaries of the listed entity; including the date and place of incorporation and the
name and date of appointment of the statutory auditors of such subsidiaries.
a) Material subsidiary as its income or net worth exceeded 20% of CIL (consolidated) income or net worth as on 31st March
2023
Name of Material Date of Place of Name of Principal Date of Appointment Fees paid
Subsidiaries Incorporation Incorporation Statutory Auditor of Statutory Auditor (in Lakhs)
Mahanadi Coalfields Ltd 03.04.1992 Sambalpur, M/s. Lal Dash & CO 30.08.2022 29.46
b) Material subsidiary as its income or net worth exceeded 10% of CIL (consolidated) income or net worth as on 31st March 2023.
Name of Material Date of Place of Name of Principal Date of Appointment Fees paid
Subsidiaries Incorporation Incorporation Statutory Auditor of Statutory Auditor (in Lakhs)
Eastern Coalfields Ltd 01.11.1975 Sanctoria, M/s. N C Banerjee 22.09.2022 8.03
West Bengal & Co
Central Coalfields Ltd 05.09.1956 Ranchi M/s SPAN & 26.08.2022 18.53
(Jharkhand) Associates
Northern Coalfields Ltd 28.11.1985 Singrauli, M/s. J N. Sharma & 30.08.2022 18.08
Madhya Co
Pradesh
Western Coalfields Ltd 29.10.1985 Nagpur, M/s. Rodi Dabir & Co. 29.08.2022 11.04
Maharashtra
South Eastern Coalfields 28.11.1985 Bilaspur, M/s. S.P. Totla & Co. 25.09.2019 23.25
Ltd Chhattisgarh
O). CEO/CFO Certification: As required under SEBI(LODR)Regulations,2015, Certificate signed by Shri Pramod Agrawal
Chairman/CEO, Shri S.K Mehta CFO was placed before the Board of Directors in its 451st Board Meeting held on 7th May’23 and
is annexed to Corporate Governance Report as Annexure II
P) Code of Business Conduct.
The Company has in place a Code of Business Conduct applicable to Board Members as well as to Senior Management which
was revised in its 311th Board Meeting held on 29-03-2015 in line with Companies Act' 2013, Listing Regulations 2015 and the
same has been uploaded in Company’s website. Further, all Board Members of Coal India Limited and Senior Management
Personnel have affirmed compliance to the code of conduct as on 31st March, 2023.
002-115 116-332 333-513
Q) Declaration required under Regulation 26 (3) of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015
All the members of the Board and Senior Management Personnel have affirmed compliance to the Code of Conduct for the
financial year ended on 31st March, 2023.
Sd/
Kolkata (Pramod Agrawal)
Dated : 24.04.2023 Chairman &Managing Director
DIN-00279727
R) Code of Internal procedures and conduct for Prevention of Insider Trading.
In pursuance to Regulation 9(1) of SEBI (Prohibition of Insider Trading) Regulations 2015, CIL had adopted Code of Internal
Procedures and Conduct for Prevention of Insider Trading in Securities of Coal India Limited with the objective of preventing
purchase and/or sale of shares of Company by an insider on the basis of unpublished price sensitive information. As required
under the regulations, Company is maintaining a structured Digital database[SDD] internally of Designated persons and their
relatives. As per SEBI (Prohibition of Insider Trading) (Amendment) Regulation 2018 and 2019 Company had amended the
Prohibition of Insider Trading Code with the approval of Board in its 390th meeting held on 13th August, 2019.
S) Formal letter of appointment to Independent Directors: CIL Board in its 308th meeting had approved letter of
appointment to be issued to Independent Directors on their appointment and it is also uploaded in company’s website. This is as
per the Schedule IV of Companies Act 2013 and Regulation 46(2) of Listing Regulations 2015. Accordingly, letter of appointment
has been issued to all Independent Directors as and when they are appointed.
T) Familiarization programme for Independent Directors: Board of Directors including Independent Directors are fully
briefed on all business-related matters, associated risk, new initiatives etc of the company. The Board of directors were also
briefed about the provisions of Companies Act 2013, SEBI (LODR) Regulations, 2015, and Prevention of Insider Trading Code
of CIL etc. As and when the training programmes are conducted by the recognized Institutes on Corporate Governance,
company sponsors them to attend training programme and make them familiar with the recent developments. Details of training
programme attended by Independent Directors for FY 2022-23 were disclosed in company website under tab “Investor Centre,
Event & Announcements”.
https://d3u7ubx0okog7j.cloudfront.net/documents/FamiliarizationProgrammesIDs.pdf
11. Non-compliance of any requirement of corporate governance report
All the requirements of Corporate Governances has been duly complied with.
12. Corporate Governance Certificate regard to compliance of conditions of corporate governance
As stipulated in the Guidelines on Corporate Governance for CPSE issued by Department of Public Enterprises vide OM
18(8)/2005-GM dated 14.05.2010 and relevant SEBI (LODR) Regulations 2015, a certificate on Compliance of Corporate
Governance Guidelines has been obtained from a peer reviewed practising Company Secretary for the financial year 2022-23
and the same is enclosed in this report as Annexure III.
13. Disclosures with respect to Demat suspense account/ unclaimed suspense account
No Shares are lying in the Demat suspense account/ unclaimed suspense account of CIL
Annexure- I
Non- Mandatory Requirements.

Besides the mandatory requirements as mentioned in preceding pages, the status of compliance with non-mandatory requirements
of Reg. 27(1) of SEBI(LODR)Regulations, 2015 read with Part E of Schedule-II are produced below:
1. The Board: The Company is headed by an Executive Chairman.
2. Shareholder Rights: The quarterly Financial Results of the Company are published in leading newspapers and also posted on
company's website (www.coalindia.in). These results are not separately circulated to the shareholders.
3. Audit Qualification / Modified Opinions in audit report: It is always Company’s endeavor to present an unqualified financial
statement. The report of Statutory Auditors and C&AG alongwith their observations and management replies forms part of this
Annual Report.
4. Reporting of Internal Auditor: General Manager Internal Audit reports directly to Chief Executive Officer of the company. The
external/internal auditor appointed by the company submit their report to concerned GM at places where they are conducting
audit. These reports are reviewed by the Audit Committee.
5. Split of Role of Chairman and MD: - SEBI has made same voluntary for companies to split the roles of Chairman and Managing
Director.
002-115 116-332 333-513
Annexure- II
CEO AND CFO CERTIFICATION (STANDALONE)

To
The Board of Directors
Coal India Limited
The Financial Statements of CIL (Standalone) for the Financial Year ended 31st March, 2023 are placed herewith before the Board
of Directors for their consideration and approval.
In the light of above, We, Pramod Agrawal, Chairman-cum-Managing Director & CEO and Sunil Kumar Mehta, Executive Director
(Finance)/CFO of Coal India Ltd. responsible for the finance function certify that:
a. We have reviewed the Financial Statements for the Financial Year ended 31st March, 2023 and that to the best of our knowledge
and belief:
i. These statements do not contain any materially untrue statement or omit any material fact or contain statements that might
be misleading;
ii. These statements together present a true and fair view of the company’s affairs and are in compliance with existing
accounting standards i.e. IND AS, applicable laws and regulations.
b. To the best of our knowledge and belief, no transactions entered into by the company during the Financial Year ended 31st
March, 2023 are fraudulent, illegal or violative of the company’s code of conduct.
c. We accept responsibility for establishing and maintaining internal controls for financial reporting and we have evaluated the
effectiveness of internal control systems of the company pertaining to financial reporting and we have disclosed to the Auditors,
deficiencies in the design or operation of such internal controls, if any, of which they are aware and the steps they have taken or
propose to take to rectify these deficiencies.
d. We have indicated to the Auditors that:
i. There has not been any significant change in internal control over financial reporting during the period under reference;
ii. There has not been any significant change in accounting policies during the period;
iii. We have not become aware of any instance of significant fraud with involvement therein of the management or an employee
having a significant role in the company’s internal control system over financial reporting.
Sd/- Sd/-
Executive Director (Finance) /CFO Chairman-cum-Managing Director & CEO
DIN-00279727
Date: 7th May, 2023
Place: Shillong
CEO AND CFO CERTIFICATION (CONSOLIDATED)

To
The Board of Directors
Coal India Limited
The Financial Statements of CIL (Consolidated) for the Financial evaluated the effectiveness of internal control systems of
Year ended 31st March, 2023 are placed herewith before the the company pertaining to financial reporting and we have
Board of Directors for their consideration and approval. disclosed to the Auditors, deficiencies in the design or
operation of such internal controls, if any, of which they are
The Financial Statements for the above-mentioned period for aware and the steps they have taken or propose to take to
the subsidiaries of Coal India Limited have been prepared by rectify these deficiencies.
the respective subsidiaries and have been approved by their
respective Boards however, for subsidiaries viz. CIL Solar PV 4. We have indicated to the Auditors that:
Limited, CIL Navikarniya Urja Limited & Coal India Africana
Limitada management certified financial statements were i. There has not been any significant change in internal
considered. The respective CEO/CFO certification on the control over financial reporting during the period under
Financial Statements of other subsidiaries for the said period reference;
as submitted to the respective Board are also placed for kind
ii. There has not been any significant change in
perusal. This CEO/CFO (Consolidated) certification is based on
accounting policies during the period;
these individual subsidiary wise CEO/CFO Certification.
iii. We have not become aware of any instance of
The Standalone Financial Statements for the above period also
significant fraud with involvement therein of the
form a part of the above Consolidated Financial Statements.
management or an employee having a significant role
In the view of the above, We, Pramod Agrawal, Chairman-cum- in the company’s internal control system over financial
Managing Director & CEO and Sunil Kumar Mehta, Executive reporting except in case of BCCL which is given as
Director (Finance) /CFO of Coal India Ltd. responsible for the under: -
finance function certify that:
a. Irregularities in arbitrary cancellation of BC
a) We have reviewed the Financial Statements for the Financial and FC in a tender of Lodna Area even after
Year ended 31st March, 2023 and that to the best of our recommendation of tender committee member to
knowledge and belief: award the work in favor of L-1 tenderer. Vigilance
case no. is CB/01/2022 registered on 26.05.2022.
i. These statements do not contain any materially
untrue statement or omit any material fact or contain b. Irregularities detected in handover and takeover of
statements that might be misleading; BCCL’s quarter at EJ Area. Vigilance case no. is
CB/02/2022 registered on 17.06.2022.
ii. These statements together present a true and fair view
of the company’s affairs and are in compliance with c. Irregularities in work of Coal Transportation from
existing accounting standards i.e. IND AS, applicable various coal dump of Kuya OCP to CK siding
laws and regulations. through feeder breaker during the period January
2021 to May 2021 by the three private coal
2. To the best of our knowledge and belief, no transactions transporters. Vigilance case no. is CB/04/2022
entered into by the company during the Financial Year registered on 22.09.2022.
ended 31st March, 2023 are fraudulent, illegal or violative of
the company’s code of conduct. d. Alleged violation of term and conditions of the
contract and non-deposition of correct amount of
3. We accept responsibility for establishing and maintaining EPF. Vigilance case no. is CA/01/2022 registered
internal controls for financial reporting and we have on 07.12.2022.
Sd/- Sd/-
Executive Director (Finance) /CFO Chairman-cum-Managing Director & CEO
DIN-00279727
Date: 7th May, 2023
Place: Shillong
002-115 116-332 333-513
Annexure III
Saurabh Basu S BASU & ASSOCIATES
ACS, ACMA, MBA (Fin) Company Secretaries
Practising Company Secretary Code No.- S2017W8456500
Insolvency Professional 10/6/2 Raja Rammohan Roy Road,
M-9830063501 3rd Floor, Kolkata - 700008
email-pcs.saurabhbasu@gmail.com
CERTIFICATE ON CORPORATE GOVERNANCE

[Pursuant to Clause E of SCHEDULE V of Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements) Regulations, 2015]
TO
THE MEMBERS
COAL INDIA LIMITED,
Coal Bhawan, Premises No.04-MAR,
Plot-AF-III, Action Area-1A,
New Town Rajarhat,
Kolkata-700156.
1. We have examined the compliance of conditions of 6. The procedures include but are not limited to verification of
Corporate Governance by Coal India Limited (“the secretarial records and other information of the Company.
Company”) for the year ended March 31, 2023 as
stipulated in Regulation 17 to 27 and clauses (b) to (i) 7. The procedures also include examining evidence supporting
of Regulation 46(2) and para C, D, and E of schedule V the particulars in the Corporate Governance Report on a
of the Securities and Exchange Board of India (Listing test basis.
Obligation and Disclosure Requirements) Regulation,2015
as amended from time to time (“SEBI LODR“) and other Opinion
applicable regulations of it and the guidelines on Corporate
Governance for Central Public Sector Enterprises(CPSE) 8. In our opinion and to the best of our information and
issued by the Department of Public Enterprises, Govt of according to the explanations given to us, we certify that
India vide OM No18(8)/2005-GM dated 14th May,2010 . the Company has, in all material respects, complied with
the conditions of Corporate Governance as stipulated in
Regulations 17 to 27, clauses (b) to (i) of Regulation 46 (2)
Management’s Responsibility
and part C and D of Schedule V to the SEBI LODR for the
2. The preparation of the Corporate Governance Report year ended March 31, 2023 as well as guidelines issued by
is the responsibility of the Management of the Company the DPE except for the following:
including the preparation and maintenance of all relevant
I. Regulation 17(1)(a) of SEBI LODR the Board did not
supporting records and documents. This responsibility also
comprise of an Independent Woman Director for the
includes the design, implementation and maintenance of
period 01.04.2022 to 31.03.2023.
internal control relevant to the preparation and presentation
of the Corporate Governance Report. II. Regulation 24(1) of SEBI LODR, regarding the
requirement of having at least one Independent
3. The Management along with the Board of Directors are also
Director on the Board of Directors of the Listed Entity
responsible for ensuring that the Company complies with
shall be a Director on the Board of directors of
the conditions of Corporate Governance as stipulated in
one Unlisted Material Subsidiary(s) i.e. Mahanadi
the SEBI LODR, issued by the Securities and Exchange
Coalfields Ltd.
Board of India as well as guidelines issued by the DPE.
However, in this regard it has been informed to us by
Practising Company Secretary’s Responsibility the management that Directors are appointed by the
Government of India through its Administrative Ministry and
4. Our examination was limited to procedure and implementation regular representations has been made to the Administrative
thereof, adopted by the company for ensuring the compliance Ministry for appointment of Independent Director(s)
of the conditions of Corporate Governance.
9. The Company has taken steps for reviewing of compliance
5. Pursuant to the requirements of the SEBI LODR ,it is our of Laws. An elaborate system is in place for integration
responsibility to provide a reasonable assurance whether and alignment of risk management with corporate and
the company has complied with the conditions of Corporate operational objectives.
Governance as stipulated in SEBI LODR for the year ended
31st March,2023.
Other Matters and Restrictions on use
10. We further state that such compliance is neither an assurance as to the future viability of the Company nor of the efficiency or
effectiveness with which the Management has conducted the affairs of the Company.
11. The certificate is addressed and provided to the members of the Company solely for the purpose of complying with the
requirement of the SEBI LODR, and it should not be used by any other person or for any other purpose. Accordingly, we do not
accept or assume any liability or any duty of care for any other purpose or to any other person to whom this report is shown or
into whose hands it may come without our prior consent in writing.
For S Basu & Associates

Company Secretaries
Firm Registration No : S2017WB456500
Sd/-
Saurabh Basu
Proprietor
ACS: 18686 ; C.P.: 14347
Place: Kolkata Peer Review No : 1017/2020
Date: 5th July 2023 UDIN:-A018686E000552428
002-115 116-332 333-513
Annexure IV
Saurabh Basu S BASU & ASSOCIATES
ACS, ACMA, MBA (Fin) Company Secretaries
Practising Company Secretary Code No.- S2017W8456500
Insolvency Professional 10/6/2 Raja Rammohan Roy Road,
M-9830063501 3rd Floor, Kolkata - 700008
email-pcs.saurabhbasu@gmail.com
CERTIFICATE OF NON-DISQUALIFICATION OF DIRECTORS

(Pursuant to Regulation 34(3) and Schedule V Para C Clause (10)(i) of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015)
To
The Members of
COAL INDIA LIMITED
Coal Bhawan, Premises No.04-MAR
Plot-AF-III, Action Area-1A
New Town Rajarhat
Kolkata-700156
I have examined the relevant registers, records, forms, returns and disclosures received from the Directors of COAL INDIA LIMITED
having CIN: L23109WB1973GOI028844 and having its registered office at Coal Bhawan, Premises No.04-MAR Plot-AF-III, Action
Area-1A New Town, Rajarhat Kolkata-700156 (hereinafter referred to as ‘the Company’), produced before me by the Company for
the purpose of issuing this Certificate, in accordance with Regulation 34(3) read with Schedule V Para-C Sub clause 10(i) of the
Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
In my opinion and to the best of my information and according to the verifications (including Directors Identification Number (DIN)
status at the portal www.mca.gov.in) as considered necessary and explanations furnished to me by the Company & its officers,
I hereby certify that none of the Directors on the Board of the Company as stated below for the Financial Year ending on 31st March,
2023 have been debarred or disqualified from being appointed or continuing as Directors of companies by the Securities and
Exchange Board of India, Ministry of Corporate Affairs or any such other Statutory Authority.
Sr. Original Date of

Name of Director DIN
No. Appointment in Company
1. Shri Pramod Agrawal 00279727 01/02/2020
2. Shri Nagaraju Maddirala, IAS 06852727 22/02/2023
3. Smt Nirupama Kotru, IRS 09204338 15/06/2021
4. Shri Vinay Ranjan 03636743 28/07/2021
5. Dr . Veera Reddy Boothukuru 08679590 01/02/2022
6. Shri Debasish Nanda 09015566 11/07/2022
7. Shri Mukesh Choudhary 07532479 23/12/2022
8. CA Denesh Singh 08038875 01/11/2021
9. Shri Nageswara Rao Gollapalli 08461461 01/11/2021
10. Shri Bhojarajan Rajesh Chander 02065422 01/11/2021
11. CA Kamesh Kant Acharya 09386642 02/11/2021
12. Shri Punambhai Kalabhai Makwana 09385881 02/11/2021
13. Dr. Arun Kumar Oraon 09388744 05/11/2021
14. Capt.(Retd) Ghanshyam Singh Rathore 09615384 01/03/2023
Ensuring the eligibility for the appointment / continuity of every Director on the Board is the responsibility of the management of the
Company. My responsibility is to express an opinion on these based on my verification. This certificate is neither an assurance as
to the future viability of the Company nor of the efficiency or effectiveness with which the management has conducted the affairs of
the Company.
S Basu & Associates

Company Secretaries
Firm Registration No: S2017WB456500
Sd/-
Saurabh Basu
Proprietor
Membership No. ACS18686 CP No:14347
Date: 5th July 2023 Peer Review No: 1017/2020
Place: Kolkata UDIN:-A018686E000552329
MANAGEMENT DISCUSSION AND ANALYSIS REPORT

1.0 INDUSTRY STRUCTURE AND DEVELOPMENT In terms of availability, coal is the most abundant fossil fuel
available with India. The geological resources of coal in
Coal in India and Coal India Limited India are in excess of 361 Billion Tonnes (as on 01.04.22).
At the current rate of production, the reserves are adequate
Coal remains the predominant indigenous energy sources
to meet the demand.
in the country. The energy security of the country and its
prosperity are integrally linked to efficient and effective use Government of India envisages to provide access to clean,
of this abundant, affordable and dependent fuel, coal. cheap and sustainable electricity to the entire population
of the nation. Though the proportion of non-coal sources,
The dependability on coal may be gauged by the fact that
particularly renewables, has increased over the last few
about 49.3% * of India’s installed power capacity is coal
years yet coal shall remain the dominant fuel source for
(excluding Lignite)-based. CIL produces around 79% of
electricity generation in India in near future as well.
India’s overall coal production in India and it alone meets to
the tune of 40% of primary commercial energy requirement. Today, India is the 2nd largest producer of coal in the world
As India aims to increase its power generation capacity producing about 893.08 Million tonne of coal in 2022-23.
in coming years, a significant portion of the capacity is The coal sector in India is dominated by state producers
expected to come from coal itself. including Coal India Limited and Singareni Collieries
Company Limited. Coal India Limited (CIL), with its seven
As per Draft NITI Aayog Report (Nov’21) on “Coal Demand
wholly-owned coal producing subsidiaries and one
in India - 2030 and beyond”, demand for coal in electricity
mine planning and Consultancy Company, is the single
generation in India will remain and gain an increasing
largest coal producing company in the world, with a total
trend in absolute term in the near future. In percentage
production of about 703.20 M.T. during the fiscal 2022-
terms, the share of coal in energy mix is likely to reduce
23 which is about 79% of the total coal produced in the
from current levels of 72% to 52% by 2030, 43% by 2035
country.
and to 34% by 2040 due to high penetration of renewable
in total energy mix. *As per MoP Site
2.0 SWOT ANALYSIS
Strengths
• Large Scale of operations allow economies in scale of production.
• Large coal resource base.
• Geographical spread of operations in India allows proximity to a large and diversified customer base.
• Strong financial credentials.
• Skilled and diversified workforce with experience.
• Well positioned to cater to high demand of coal in India.
• Consistent track record of growth & strong track record of financial performance.
• Strong capabilities for exploration, mine planning and operations.
• Lowest selling price of coal/ cheapest source of energy.

002-115 116-332 333-513
Weaknesses
• High cost of production in underground (legacy) mines.
• Evacuation infrastructure bottleneck in certain areas due to land, statutory clearance and Law & Order issues.
• Inherent inferior quality of indigenous coal due to high ash content.
• Constraints in possession of land.
• High wages cost.
• Absence of indigenous manufacturing support.
Threats
• Pressure of international body like UN to comply Paris Agreement & COP26 at Glasgow on climate change to curb use
of fossil fuel.
• Impact of commercial mining
• Possibility of availability of low cost imported coal may significantly affect future of indigenous production.
• Increase in proportion of renewables in the energy mix and demand stagnation in future.
• Resistance to part with land, creating problems in possession of land and rehabilitation; Rapid appreciation in land cost.
Opportunities
• Being a cheaper source of energy compared to alternate sources available in India, coal to remain key primary energy
source.
• Diversification to non-coal sector.
• Commitments of Panchamrit and Atmanirbhar Bharat.
• Strong economic growth in India and resultant demand for energy, particularly coal as an energy source.
• Large scale Rural electrification and Power for All UDAY scheme.
• Export opportunities to neighboring countries.
• Opportunity to adopt alternative energy by diversifying into clean coal technology.
• Opportunity to diversify its operation into solar sector for having significant presence in India’s overall energy mix.
• Enhanced demand of power due to increased use of electric vehicles.

3.0 SEGMENT-WISE PERFORMANCE Dec’2023. This shall enhance its capacity to evacuate
about 100 MTPA of coal from the North Karanpura
Production, Off-take and OBR performances are available coalfield of CCL, Jharkhand.
in Director’s Report.
2. Jharsuguda –Barpali- Sardega New BG line (52.41
KM) was funded by CIL to evacuate about 35 MTPA
4.0 OUTLOOK:
from the Greenfield Basundhara coalfield in the State
CIL has envisaged coal supply target of 780 Mt in 2023-24 of Odisha and commissioned in Apr’18. Construction
which is a growth of more than 11% over the previous year. of doubling of this rail line along with loading bulbs
About 80% of the said production would be consumed at Barpali and flyover complex at Jharsuguda is
by power sector only. CIL’s growth plan for the future is in underway to enhance its evacuation capacity to about
synergy with the ambitious plan of the Government for 24 65 MTPA. (Doubling works targeted to be completed
X 7 power supply to all homes in the country for which a by Dec’2023).
roadmap to achieve 1 Bt of coal production by 2025-26 has
3. The Rail Connectivity of Lingaraj SILO with Deulbeda
been prepared.
siding of about 4.5 Km at Talcher Coalfields of MCL
For sustainability and growth, thrust on minimizing the was commissioned in May’21. This has added about 5
environmental impact is laid for qualitative improvement MTPA evacuation capacity to the railway network.
in coal production through selective mining, beneficiation
4. Mahanadi Coal Railway Limited (MCRL), a SPV
& blending, enhancing production from U/G mines and
of MCL has constructed the Angul- Balram rail link
diversifying into clean coal technologies.
(14.22 Km) in Talcher coalfield of Odisha. This new
Apart from creating new railway infrastructure, optimum railway line was commissioned in Nov’22 and shall
utilization of existing capacity through linkage auction facilitate additional coal evacuation of about 15 MTPA.
scheme is being ensured through an in-built system of
5. Chhattisgarh East Rail Ltd (CERL), a SPV of SECL
source rationalization for non-regulated sector. Further, it
is developing the East Rail Corridor in the state of
has been envisaged to ensure despatches through “First
Chhattisgarh. In the first phase, the Main corridor
Mile Connectivity (FMC)” to consumer through non-road
between Kharsia to Dharamjaigarh (0-74 KM) has
mode like conveyors, MGR/Rail etc.
been commissioned and coal evacuation is taking
CIL is also exploring opportunities to diversify into ‘coal place. Commercial notification of Chaal and Baroud
to chemical’ business (CTL, SCG etc.). This is to ensure feeder lines have been issued. The balance works are
greater value addition and thereby improving financial in progress and the project shall evacuate about 65
performance of the company, and ensuring long term MTPA of coal from the Mand- Raigarh coalfield and is
sustenance. anticipated to be commissioned by Dec’2023. In the
second phase, new railway lines shall be constructed
CIL has planned a capital investment of H 16,600 crore for between Dharamjaigarh and Korba (62.5 Km).
maintaining its volume growth in 2023-24 and beyond. In Presently land acquisition works are in progress and
addition, the company has also envisaged for investing are anticipated to be commissioned by March’2026.
substantial amount in different schemes in 2023-24 such as This shall add about 25 MTPA evacuation capacity to
development of railway infrastructure project, solar power, the railway network.
Thermal Power Plants, Coal Bed Methane (CBM), revival of
fertilizer plants etc. 6. Chhattisgarh East West Rail Ltd (CEWRL), a SPV of
SECL is developing the East -West Rail Corridor from
Marketing Outlook: Gevra Rd to Pendra Rd (135 Km) to evacuate about
65 MTPA of coal from Korba coalfield in Chhattisgarh.
Considering the demand scenario, the target for the year
Construction works are under execution and the new
2022-23 had been set at the level of 700 MT.
railway line is anticipated to be commissioned by
To have a seamless evacuation system for the projected Dec’2024.
production, an action plan to enhance and strengthen the
7. Jharkhand Coal Railway Limited (JCRL), a SPV of CCL
infrastructure of coal evacuation for existing, ongoing and
is constructing the Shivpur - Kathautia rail connectivity
future projects of subsidiary companies is in place. Rail
(49.08 Km) in the State of Jharkhand. About 25 MTPA
infrastructure is being built both on ‘Deposit Basis’ as well
coal from the mines of CCL is planned to be evacuated
as by forming SPVs with Rail PSUs and the concerned
through this line. Work is under progress and the new
State Govt. at an investment of about H 21,250 crore. The
railway line is anticipated to be commissioned by
details are as follows:
March 2025.
1. Tori-Shivpur New BG Double line (43.70 KM) to
All these new rail projects when fully commissioned shall
evacuate about 65 MTPA was funded by CIL and
be adding about 415 MTPA coal evacuation capacity to
commissioned in Dec’2019. Construction for the third
the Indian railway network. Out of this 415 MTPA capacity,
line is underway and targeted to be completed by
about 170 MTPA capacity has already been added to the
002-115 116-332 333-513
Indian railway network and construction works for the CIL, like SEVA (Saral Eindhan Vitran Application) for Power
balance capacity addition is in progress and is anticipated Consumers, Grahak Sadak Koyla Vitran, UTTAM ((Unlocking
to be completed by Dec’26. Transparency by Third Party Assessment of Mined Coal) and
CAMS (Coal Allocation Monitoring System) for distribution
Apart from the above, CIL is also developing new FMC rail of coal through State Nominated Agencies, through which
connectivity and Railway Sidings with a capital investment the consumers and other related stakeholders have access
of about H 7000 crore. for information regarding allocation, dispatch, third party
quality assessment of dispatch etc.
Mechanized and Computerised loading
Also, in order to expedite and facilitate the reconciliation of
In addition to the 151 MTPA Rapid Loading capacity of
coal bills on a regular basis, an online reconciliation portal
CIL in July 2019, CIL has also taken steps to upgrade the
has been developed by Coal India Limited. Consumers as
mechanized coal transportation and loading system under
well as subsidiaries have been advised to perform online
'First Mile Connectivity' projects in three phases at an
bill to bill reconciliation after registration and executing
estimated capital investment of about H 24,250 crore.
different activities for smooth functioning of portal. Most of
61 First Mile Connectivity (FMC) projects of 763.5 the Power consumers have been on boarded on the portal.
MTPA are being implemented to consolidate CIL’s effort Online reconciliation of the consumers is being conducted
towards upgradation and expansion of coal evacuation through this portal.
infrastructure.
Operations Outlook:
CIL has already commissioned 7 FMC Projects of 92 MTPA
117 Ongoing projects costing H 20 crore and above
capacity. 17 FMC projects are expected to be completed
having ultimate capacity of about 929 Mty and sanctioned
in current FY 23-24. CIL plans to operationalize all the
capital of about H 139436 crore are under various stages
projects of Phase-I, Phase-II and Phase-III by FY 28-29
of implementation (as on 01.04.2023). For achieving
thereby having a cumulative Rapid Loading capacity of
production target in 2023-24, EC for 13 no. of proposals
914.5 MTPA.
with incremental capacity of about 33 Mty are under
Overall, CIL is investing about H 52,500 crore in developing different stages of approval. In FY-2023-24, Stage-II FC
mechanized evacuation infrastructure under its command of 15 no. of proposals involving 3068.887 Ha forest land
areas. are required to achieve coal production target. Also, total
land to be possessed by the subsidiaries of CIL has been
CIL already has a committed long term linkage of nearly estimated to be 2090.87 Ha for achieving target.
665 MTPA from Power and Non-Power Sectors as on
31.3.2023. It also has a steady demand for offers of sale The expansion program will be managed in a structured
through various e-Auction Schemes. CIL has assured manner with the help of IT enabled solutions. The
demand for its production projections, as more firm linkages implementation of ERP solution to enable transparency in
shall be added under the ongoing process of allocation of operations, maintenance and support functions is already
linkages to various segments of Power Sector consumers underway and has been introduced in all subsidiaries &
through ‘SHAKTI’, the policy introduced by the government in CIL HQ including NEC. The project implementation of
on 22.5.2017 for grant of coal linkages to power sector vital mines is being monitored through PS Module. CIL
and also through further tranches of auction of linkages for has taken initiatives for implementation of digitization of
Non-Regulated Sector consumers that shall be conducted mines for improving operational efficiency which have been
by CIL on a regular basis. implemented in seven (7) mines of NCL & SECL.
Customer satisfaction through quality assurance and The Company has already concluded two studies
transparency in business operations have been the priority through reputed consultant for assessing the possible
areas for CIL. The initiatives taken to build Consumers’ mechanization and automation levels across a substantial
confidence and satisfaction include supply of only sized number of mines. This is aimed at identification of
coal as per FSA provision to power sector consumers, opportunities in mine planning, exploration, survey,
extension of third party sampling facility to all sectors of operations and maintenance.
consumers under all schemes through deployment of
In order to infuse State-of-the-art technology & efficiency of
empanelled Third Party Agencies, as per the choice of
private sector, initiatives have been taken for development &
consumer , installation of on line ash & energy analyzers
operation of new mines/blocks through MDO route. Further,
in coalfield areas , restriction of grade slippages, timely
CIL have identified 37 closed/abandoned/discontinued
issuance of credit/debit notes on quality grounds under
underground mines as of now for operation through MDO
purview of FSA etc., NABL accreditation of the major field
route. Out of this LoA has been issued for 10 mines.
level laboratories and equipping them with the Automatic
“Bomb Calorimeters” for ascertaining calorific value of coal With a vision to extract coal environmentally and socially
and increasing the production through Surface Miners. friendly manner, CIL now is being looking forward to
The objective of transparency is also achieved with the enhance its production from underground mining. As the
help of various simple menu driven APPs launched by opencast coal is likely to be exhausted in the near future
and high capacity State-of-the -Art underground mines Outlook for Sustainable Growth:
shall be poised for the following:
Coal India and its subsidiaries have cumulative electricity
• Identification and planning of large high capacity State- contract demand of 1100 MVA approximately with an
of-the-Art underground mines at depth below 250 Mtr. annual energy consumption of approximately 4600 million.
and at places with environmental restriction. Coal India Ltd is well poised for adopting clean energy to
cater to its electrical energy requirement. The total solar
• With large nos. of old/discontinued/abandoned energy generated during 2022-23 was about 68.36 Lakh
potential OC mines now lying idle are being identified units through its installed RE units which is 70 % more than
for being taken-up through Highwall mining. So far 23 the previous year.
such mines have been identified for Highwall mining,
out of which operation has been started in two mines In this endeavour, CIL has planned to become a net-zero
and LoA issued in three other cases. energy company by setting up 3000 MW Solar Power
Projects to offset the current fossil fuel-based power
• An exercise has been initiated for obtaining relaxation requirement. CIL has also incorporated a subsidiary
in mandate in order to facilitate working/extraction of company namely ‘CIL Navikarniya Urja Limited (CNUL) to
coal below Forest Land in virgin seams and seams venture into the new Business areas of new and renewable
standing on pillars. Energy (Non-conventional) segments.
To support increase in production on a sustainable basis, CIL envisaged a three-pronged strategy to achieve the
synergic growth in exploration is also envisaged. Increased 3000 MW Target.
use of hydrostatic drilling with PCD bits and 3D Seismic
Survey Technology to achieve high rate in exploration have • Development of Solar Projects in available land parcels
been planned. CIL will continue to focus on increasing its and rooftop spaces at subsidiaries of CIL wherever
reserve base in India. feasible.
CIL is also in the process of augmenting the capacity of • Development of Solar Projects in states with high
training institutes across subsidiaries, including IICM. potential like Rajasthan and Gujarat etc
Several other actions for building human resource capacity
are being contemplated in collaboration with reputed • Developing solar projects by participating in Solar
institutions within the country and even abroad in their tenders of SECI/DISCOMs/Power exchanges etc.
respective fields.
CIL’s Action Plan for the development of solar power to become a Net Zero Energy Company by 2025-26 are as under:-
Current Installation
3Year 2023-24 2024-25 2025-26 Total
till 2022-23
Capacity in (MW) 11.05 398.82 1443 1158 3000
a) CIL was awarded 100 MW Solar Power project on f) Approximately 20 MW Rooftop solar power projects
26/4/21 against e-reverse auction conducted by are under various stages of implementation at
GUVNL for the procurement of Solar power to meet Subsidiaries. More rooftops are being identified to
their RPO obligation. CIL is establishing the Solar meet the residential/commercial load of subsidiaries to
power project in Gujarat to supply solar power to reduce the power cost.
GUVNL for a period of 25 years.
g) CIL subsidiaries have already identified land for the
b) CIL entered into an MOU with Rajasthan Rajya Vidyut installation of approximately 725 MW solar projects for
Utpadan Nigam Ltd (RVUNL) on 13th Oct 2022 for captive requirement as per state regulations on open
setting up the 1190 MW solar power plant at the 2000 access & grid connectivity.
MW solar park of RVUNL.
h) CIL is exploring suitable sites for setting up pump
c) 200 MW (NCL50 MW, MCL50 MW, CCL20 MW, storage plants (PSPs) and floating solar projects at the
BCCL25 MW, WCL15 MW & SECL40 MW) solar abandoned mines and large reservoirs. Stabilized OB
projects have been awarded by CIL’s subsidiaries & dumps are being explored for installing solar projects.
will be commissioned during 2023-24.
Research & Development:
d) Tender under award stage for a capacity of 55 MW
(BCCL20 MW & ECL35 MW CMPDIL is the nodal agency for coordination and
monitoring of S&T projects in the coal sector as well as the
e) Project DPR under approval stage is 115 MW (55 R&D projects of CIL. The details of S&T and R&D projects
MWWCL, SECL40 MW, MCL50 MW). taken-up by CMPDI on behalf of CIL are as in Annexure A.
002-115 116-332 333-513
5.0 RISKS AND CONCERNS Year 2022-23. CIL recorded a Profit before Tax (PBT) of
H 38,000.81 crore and a Profit after Tax (PAT) of H 28,124.94
CIL has a comprehensive Risk Management Framework crore in FY 22-23. The growth in PBT is 61% over the
which consists of :- previous year with growth in PAT at 62% over the previous
year. This year the Profit has surpassed the previous
(a) Process to identify, prioritize and formulate mitigation
record of the highest PBT of H 27,126.87 crore and PAT of
plans for prioritized risks/RTMs (Risk That Matters) &
H 17,464.42 crore in the Financial Year 2018-19.
(b) Framework for Roles & Responsibilities of various
The significant growth in profit can be primarily attributed
officials, committee and Board in discharging the Risk
to the notable surge in Sales (Net) by H 27,064.90 crore on
Management Process.
account of a record offtake of 694.69 Mill. Te. (Increase by
As part of Risk Management Framework, Risk owners and 32.80 Mill. Te. i.e. 5%) along with an increase in average
Mitigation Plan owners have been identified for each risk realisation per tonne.
& corresponding mitigation plans formulated to ensure
The Board of Directors of the holding company has
continuous risk assessment and mitigation. A sub-committee
recommended a final dividend of H 4 per equity share,
of Board of Directors i.e. Risk Management Committee
subject to approval in the ensuing AGM. This final dividend
(RMC) has been constituted in compliance with SEBI (LODR)
is over and above interim dividends of H 20.25 [202.50 % of
Regulations 2015. The RMC provides direction and evaluates
the face value (H 10 each) of equity shares] which were paid
the effectiveness of Risk Management Framework.
to its shareholders during the current year. The company
Chief Risk officer (CRO) of CIL and his team under the paid an interim dividend of H 14 per share which was 140%
direction of Risk Management Committee of CIL assess the of the face value of the equity share along with a final
risk to the company and formulate the risk mitigation plan dividend of H 3 per equity share for the previous year.
for prioritized risks and facilitate its implementation.
A Comprehensive analysis of Company Financial
As per decision of Risk Management Committee, Risk performance based on Consolidated Financial
related to Cyber Security has been included in RTMs. CIL Statements
is monitoring and implementing mitigation measures on
1. Total Income:
continuous basis.
Sales are presented as gross sales (in notes to
6.0 INTERNAL CONTROL SYSTEMS AND THEIR financial statements) and net of various statutory
ADEQUACY levies (in Statement of Profit & Loss) comprising
royalty, GST, GST Compensation cess, cess on
Coal India Limited (CIL) has a robust internal control coal, payment to national mineral exploration trust
systems and processes for smooth and efficient conduct of (NMET), district mineral foundation (DMF) and
business and complies with relevant laws and regulations. other levies etc. The Income from the sale of coal
A comprehensive delegation of power exists for smooth is mainly dependent on the pricing, production,
decision making. Elaborate guidelines for preparation of and, distribution of coal.
accounts are followed for uniform compliance. Further,
all the key functional areas are governed by respective CIL recorded the highest-ever Sales with record
operating manuals. In order to ensure that all checks and Offtake in Financial Year 2022-23. There was a
balances are in place and all internal control systems are in sharp increase in E-Auction realization due to a
order, regular and exhaustive internal audits are conducted surge in demand for Coal during the year. During
by experienced firms of accountants in close co-ordination the year, the Company achieved an offtake of
with the Company's Internal Audit Department. 694.69 million tonnes against 661.89 million
tonnes in the previous year, registering an increase
The Internal Financial Controls of the Company were of 5%. The increase in volume and increase in
reviewed by Internal Auditors appointed. According to average realization per tonne accounted for the
them, “the Company has, in all material respects, laid down increase in sales revenue. Average realization
internal financial controls (including operational controls) per tonne increased mainly on account of better
and that such controls are adequate and were operating premiums in E-Auction sales. With the increase in
effectively during the year ended 31st March, 2023.” offtake, the Company could achieve the offtake
targets with customers and it resulted in higher
7.0 DISCUSSION ON FINANCIAL PERFORMANCE Performance Incentives during the FY 22-23 over
WITH RESPECT TO OPERATIONAL the comparative previous year. In addition to the
PERFORMANCE above, the Performance Incentive was waived
for Power Sector FSA consumers, under certain
FINANCIAL DISCUSSION AND ANALYSIS conditions during the previous year.
The Company achieved unprecedented profitability There was a substantial increase of 26.91% in
driven by record production and offtake during Financial the Net sales (i.e. net of levies) reported during
the year over net sales for the previous year. In Employee benefit expenses at about 46% of
the figure, the net sales stood H 1,27,627.47 crore total expenses are the most significant expense
in the current year against H 1, 00,562.57 crore of the Company. The employee benefit expenses
during the previous year. incurred during the current year was H 49,409.16
crore which is 22% higher when compared to
A major element of other operating revenue H 40,473.21 crore incurred in the previous year.
is transportation charges recovered from the
customers. The company charges transportation Although there was a net reduction in manpower
costs for the transportation of coal to dispatch by 9340 employees during the current year, the
points under various slabs of distance remarkable reason for the sharp surge in the
and corresponding rates. The loading and employee benefit expense, was the provision of
transportation charges recovered (net of levies) around H 8152.75 crore recognised as expenses
during the year was H 6,138.57 crore against H during the current year for national coal wage
5,236.39 crore in the previous year mainly due agreement XI for revision in the salary of non-
to an increase in Offtake and revision of Surface executive employees of the Company w.e.f
Transportation Charges during the year. 01.07.2021. In the comparative previous period,
the provision was only H 1080.97 crore.
Evacuation Facility Charges are billed on
all dispatches to customers. Increase in Further, a payment of H 456 crore was made
Evacuation Facility Charges to H 60 per tonne during the current year to the Executive
w.e.f. 01.08.2021 along with an increase defined contribution pension scheme fund as
in Offtake contributed to the increase in compensatory interest for the delay in the deposit
evacuation facility charges (net of levies) from of the funds initially.
H 3,632.07 crore in the previous year to H 4,161.38
crore in the current year. The cost of material consumed relates to materials
and items of stores used in coal mining and
Revenue from services mainly includes processing operations, primarily oil and lubricant
consultancy and other services provided by (including diesel), explosives, HEMM spares, and
CMPDIL, a subsidiary of CIL to parties outside timber. Other consumables used in coal mining
the Company and Freight Income from Rail operations include tyres, spares for other plants
Operation by the subsidiary of SECL, a subsidiary and machinery relating to coal handling plants and
of CIL. During the Current year, the freight income beneficiation facilities, and other miscellaneous
from rail operation by the subsidiary of SECL stores and spares.
increased by H 24.59 crore as compared to the
previous year. The Revenue from services stood at The Cost of Material consumed escalated by
H 321.11 crore (net of levies) in FY 2022-23 against H 4,113.49 crore in FY 2022-23 i.e. by 43.56% due to
H 282.93 crore (net of levies) in FY 2021-22. a surge in prices of diesel and explosives along with
a higher Composite Production during the current
Other income includes interest income from deposits period as compared to the previous year.
with banks, gain on the sale of mutual funds, rental
income, write-back of provisions and liabilities, other In adherence to guidelines issued by the
miscellaneous income, etc. During the year, other Department of Public Enterprises and the
income increased by 68.77% from H 3,881.41 crore provisions of The Companies Act, 2013, Company
in FY 2021-22 to H 6,550.66 crore in FY 2022-23. has developed its CSR Policy. In accordance
with the policy, the Company undertakes CSR
The interest income grew by H 1,456.54 crore activities out of the themes listed in Schedule-VII
with an increase in average interest rates and of the Companies Act.
Investments during the year. An Interest of H 377
crore was also recognised on outstanding dues Coal India Limited, in its separate financial
from trade receivables and additional income of statement, recognised H 86.89 crore as CSR
H 616.92 crore was recognised mainly on expenses which were carried as Excess CSR
account of penalty recovered from Customer and under advance from the FY 2020-21 as per the
Contractor, Forfeiture of EMD/SD. provisions of the Companies Act.
2. Expenses Including the above, the Company incurred

H 586.50 crore during the current year which is
Employee Benefits expenses include salary, wages 6.83% higher when compared to CSR expenses
and allowances, contributions to provident fund, of H 548.98 crore incurred during the previous year.
pension and gratuity, staff welfare expenses,
overtime payments, leave encashment, attendance Contractual expenses which primarily consist
bonus, productivity and performance linked bonus of transportation charges for coal, sand,
and other incentives, and other employee benefits. and materials carried out through third-party
002-115 116-332 333-513
contractors, contractor expenses relating to With higher Capex Depreciation, amortisation,

wagon loading operations, hiring charges for on property, plant, and equipment, increased by
Heavy Earth Moving Machinery representing the 5.57%, i.e. H 246.60 crore, in FY 2022-23,
cost of coal extraction and overburden removal
activities and other miscellaneous works carried The Stripping Activity adjustment expense
out through third-party contractors for haul road for removal of overburden in opencast mines
maintenance at mines and temporary lighting etc. increased by H 48.25 crore in FY 2022-23, mainly
due to the addition of new OC mines under OBR
The volume of coal production and overburden accounting and revision of standard ratio in
removal through contractual mode increased some mines as per the accounting policy of the
during the year which led to higher contractual company.
expenses by 23 % during the current year over
the previous year. There was an increase of H 859 crore in other
expenses which mainly includes various
The finance cost includes Interest expense in operational and administrative expenses, under-
Chhattisgarh East Railway Limited (a Subsidiary loading expenses, rehabilitation expenses, rates
company of SECL) was recognised in the & taxes, advertisement and publicity-related
statement of Profit & Loss during the current year expenses, donations, rewards and grant, and
on achieving Commercial Operations in FY 22-23 other miscellaneous expenses.
3. Synopsis of Cash Flows
The Company earned H 35,686 crore from operating activity after payment of income taxes. Of the above cash flow
earned, cash and cash equivalent incurred towards the purchase of property, plant, and, Equipment and expenses
towards exploration and evaluation assets were H 15,313 crore, investment kept in the bank as deposits were H 12978
crore whereas, proceeds received from mutual fund and interest were H 5428 crore. Further, H 14,328 crore were paid
as dividends to the shareholders of the company.
4. The various ratios related to the financials of Coal India: -
Particulars April to March ’23 April to March ’22 Variance (%)

Net Profit (As % Net Sales ) 1 22.04 17.28 27.55
Operating Profit as % of Revenue from Operations 1 24.08 19.16 25.68
Debtors Turnover 2 12.68 8.49 49.35
Inventory Turnover 3 17.34 12.84 35.09
Return on Average Net Worth (%) 4 56.00 44.00 28.41
Liquidity Ratios
Current Ratio 1.57 1.62 -3.09
Trade receivables as no. of Days sales 30.73 32.99 -6.85
Stock of Coal as no. of Days of production (Qty) 35.99 35.70 0.81
Interest Coverage Ratio 5 56.53 44.61 26.72
Structural Ratios
Long-Term Debt: Equity Capital 0.67 0.54 24.07
Net Worth: Equity Capital 6 9.29 7.00 32.71
1. Net Profit (As a % of Net Sales) & Operating Profit as a % of Revenue from Operations has increased as CIL recorded the highest ever Profit
in FY 22-23.
2. Debtors Turnover is the Ratio of Gross Sales to Average Gross Debtors. The Debtors turnover ratio has increased due to higher Gross Sales
recorded by CIL and a decrease in Average Gross Debtors.
3. Inventory Turnover Ratio has increased due to a decrease in Average Inventory.
4. Return on Average Net Worth has increased as the Profit after tax has increased by 62% whereas Average Net Worth increased by 26%
only due to the payment of higher dividends during the current year.
5. Interest Coverage ratio indicates coverage of Finance Costs with available earnings. Due to a substantial increase in Profit, the interest
coverage ratio has increased in FY 2022-23.
6. Net Worth: Equity Capital has increased due to an increase in Closing Net Worth by 33%.
8.0 MATERIAL DEVELOPMENT IN HUMAN RESOURCES/INDUSTRIAL RELATIONS FRONT, INCLUDING

NUMBER OF PEOPLE EMPLOYED.
I. Manpower: -
The manpower strength of the company as on 1.04.2023 against the previous year was as under:
(figures in no)
Year Executive Non-Executive Total
01.04.2023 16,305 2,22,905 2,39,210
01.04.2022 15,694 2,32,856 2,48,550
The manpower strength has come down by 9,340 during 2022-23.
II. Talent Acquisition: through campus selection processes wherein applicable

reservation to SC, ST, OBC communities is provided.
CIL has recruited 1424 fresh executive cadre employees
i.e. Management Trainees and Medical Executives through Manpower of CIL constitutes 19.11 % of SC, 14.51 %
Open Recruitment Advertisement and internally promoted/ of ST and 23.41 % of OBC as on 1.01.2023.
appointed 1103 non-executive employees to executive
cadre during the financial year 2022-23 in order to augment Female employees of CIL constitutes 8.27% of its total
executive manpower for succession planning and to meet manpower.
CIL’s production targets.
e) Non-Discrimination: -
They are being groomed to take the mantle of responsible,
No discrimination on the ground of religion, caste,
senior executives in the times to come through off-the-
region, creed, gender, languages etc. is done in CIL/
job as well as on-the-job training interventions under
Subsidiaries.
the guidance and mentoring of the experienced senior
executives in the company. This process facilitates their f) Prevention of Sexual Harassment at workplace: -
easy adaptation into the next level of the organization and
its culture. Sexual harassment of any form is a misconduct for
Executive Cadre employees as per the Conduct,
III. Industrial Relations: - Discipline and Appeal Rules as well as for Non-
Executive Cadre employees as per the Certified
The following pro-active and strategic Industrial Relations
Standing Orders.
(IR) approaches & practices have ensured harmonious &
sustainable industrial relations in the company: - g) Freedom of Associations: -
a) Workers Participation in Management: - Employees are free to be a part of any registered Trade
Union / Employees’ Association. Representation of
Several bilateral fora such as Safety Committee,
employees is allowed in the bipartite bodies through
Housing Committee, Welfare Committee, Canteen
Trade Unions / Associations.
Committee, etc. are functional in order to resolve the
issues pertaining to service conditions, welfare, safety, h) Employee Welfare: -
etc. of employees.
CIL adheres to a “total care approach” towards its
b) Contract Labour Cell & Contract Labour employees. The employee welfare programmes
Information Portal (CLIP): - address not only the need of employees but also their
As on 01.04.2023, 1,02,719 Contractors’ workers families with respect to housing, recreation, sports,
were deployed by the registered contractors in various health, education of children etc. The company has also
activities of the company. CIL has a portal named developed medical facilities at all its operational areas.
Contract Labour Information Portal (CLIP) in which It has a strong network of 70 fully equipped Hospitals
database of all Contractors and their workers i.e. with 4362 Beds, 366 Dispensaries, 564 Ambulance and
contractors'' workers is maintained. 1044 Doctors including Specialists to provide Medical
Services to the employees and their families. Further,
c) Reservations: -
for specialized treatment, facilities are available at
CIL complies with the provisions under Presidential reputed empanelled Hospitals across the country.
Directives on reservations for SC/ST/OBC/PWD/EWS There are 134 schools fully/occasionally financed by
as per circulars issued thereof. the company with infrastructural support to provide
quality education. The company provides scholarships
d) Diversity Management: -
to meritorious students and supports higher education
CIL recruits its employees from across the country of children of nonexecutive employees studying in
through all India based open selection as well as Government Engineering Colleges & Medical Colleges.
002-115 116-332 333-513
i) Post-Retirement Medical Support: -
Contributory Post Retirement Medicare Schemes for Executives and Non-Executive Cadre employees of CIL/Subsidiaries
have been formulated wherein by making nominal contribution below mentioned benefits are extended: -
Benefit under Contributory Post Retirement Retired Executives Retired Non-Executive, Spouse &
Medicare Schemes & Spouse Divyang Children
Normal Diseases H 25 Lakh H 8 Lakh for Retd. Employee & Spouse
H 2.5 Lakh for Divyang Child
Specified Critical Diseases Unlimited
Yearly reimbursement of OPD/Domiciliary Expenses H 36,000 Nil
j) Social Security: - 8. Defined Contribution Superannuation Pension

Scheme (DCSPS): - CIL has formulated a DCSPS
All employees of CIL and its subsidiaries / contractors’ for executives as per DPE guidelines covering Board
workers are covered under the social security schemes level and below Board Level Executives to provide
as given below: - superannuation benefit in the form of annuity through
an Annuity Service Provider, post retirement.
(A) For employees of CIL and its subsidiaries:
(B) For contractors’ workers engaged in CIL and its
1. Compensation under the Employee's
subsidiaries by registered contractors.
compensation Act, 1923
1. Compensation under the Employee's
2. Gratuity: Upto H 20 Lakhs as per Payment of compensation Act, 1923
Gratuity (Amendment) Act, 2018
2. An Exgratia amount of H 15 lakhs is paid to the
3. Coal Mines Provident Fund (CMPF): - All next of kin of the contractors’ worker in case of
employees of CIL/Subsidiaries are covered under fatal mine accident or death due to COVID-19.
the Coal Mines Provident Fund scheme with equal
3. Nominee of deceased contractors’ workers are
share of contribution from both (i.e. by employees
eligible for payment of accumulated amount under
and the employer).
EPF/CMPF.
4. Coal Mines Pension Scheme (CMPS): - All
HUMAN RESOURCE DEVELOPMENT
employees are covered under the Coal Mines
Pension Scheme by which, on superannuation, Human Resource Development is one of the major activities
they receive upto 25% of their total emoluments of the Company aiming at development of existing human
as monthly pension. resource with reference to technological advancements
and demand for capabilities to fulfil the production target as
5. Life Cover Scheme: - An amount upto H 1,25,000/-
well as to meet the challenges of business diversifications
is paid under the Life Cover Scheme
into allied and non-allied areas.
6. Ex-Gratia: - An Ex-gratia compensation of
Overall Performance
H 15 lakhs in case of fatal mine accident or death
due to COVID-19 is paid to the next of kin of the During the FY 22-23, 583984 training man-days were
deceased employee. achieved for the employees including executives and non-
executives (excluding contract workers).
An additional amount of H 90,000 as ex-gratia, in
addition to Employee's Compensation Act, 1923, In Financial year 2022-23 a total of 95635 employees
is paid to the eligible dependents, in case of have been trained in CIL and its subsidiaries, out of which
death or permanent total disablement of the Non- 23345 were executives and 72290 non-executives, which is
Executive Cadre employees of CIL/Subsidiaries. 39.86% of the total manpower.
7. Employment / Monthly monetary compensation in Training

lieu of employment: -
i) In-house Training
There is provision of employment to one dependent
of the worker who dies while in service. During 2022-23 different training programs were
organized at subsidiary headquarters, training centres,
Female dependents of the employees dying while vocational training centre (VTCs) and also at CIL’s
in service are provided the Monthly monetary own in-house training facility Indian Institute of Coal
compensation, in lieu of employment, till Management Ranchi (IICM). These training programs
attainment of 60 years of age or death whichever were organized after accessing the training needs in the
is earlier. respective category of employees within the subsidiary.
Details of In-house training program are as below:
Long Short Workshop/

Particulars Total
Training Training* Seminar
Executive 4781 9808 2815 17404
Non-executive 37098 22765 11901 71764
Total 41879 32573 14716 89168
*Less than 5 days
ii) Training Outside company (Within the country)
In addition to in-house training, employees were trained at reputed training institutes within the country, in their respective
field of operations for supplementing our in-house training efforts. The break-up is as below:
Long Short Workshop/

Particulars Total
Training Training* Seminar
Executive 2703 2374 818 5895
Non-executive 394 125 1 520
Total 3097 2499 819 6415
*Less than 5 days
iii) Training Abroad facilities for storage of treated water and its reuse have
been provided in all the major projects. Domestic sewage
52 Executives attended workshops/Conferences/ treatment plants have also been established for treatments
training/visits outside the country in this Financial Year of domestic effluents. Recharging of ground water is also
taken up within mine premises as well as in the nearby
9.0 ENVIRONMENTAL PROTECTION AND villages through rainwater harvesting, digging of ponds/
CONSERVATION development of lagoons and by de-silting of existing
ponds/tanks etc. In 2022-23, discharged mine water was
Environmental protection measures are taken concurrently utilized in 837 no. of villages for irrigation and domestic
with mining operations for maintaining acceptable levels use, benefitting more than 11.10 Lakh villagers.
of major physical attributes of environment namely air &
water quality, hydrogeology, noise level & land resources.
10. CORPORATE SOCIAL RESPONSIBILITY
Suitable water spraying systems for arresting fugitive dust
in roads, washeries, First Mile Connectivity (FMC) Projects, Budget allocated in Annual Action Plan for CSR activities
CHPs, Feeder Breakers, Crushers, coal transfer points and during FY 22-23 by Coal India Ltd., Kolkata was H 118.04
coal stock areas have been installed. crore, much more than the amount calculated as per the
minimum statutory provisions i.e. H 7.10 crore. CIL was able
Massive tree plantation is being carried out in and around
to utilize H 42.04 crore for CSR during the financial year,
mining areas and modern mining techniques are being
more than the statutory obligation as per Companies Act
practiced in the mines of CIL to reduce air and noise
2013.
pollution. In last 5 year CIL has planted more than 110.74
Lakh saplings over more than 4,697 Ha inside mine lease As per DPE’s guidelines, the priority theme during the year
area and at the same period CIL planted 12.28 Lakh was kept as ‘Healthcare and Nutrition’ in which 61% of the
saplings over more than 1019 Ha outside mine lease area. total expenditure was made. Projects undertaken in this
The carbon sink potential created in last 5 years inside mine theme were focused at providing financial assistance for
lease area is about 2.35 Lakh Tonne/year. costly medical equipment to charitable hospitals in Kolkata,
Ranchi and Surat and augmenting hospital infrastructure
CIL planted 31.01 Lakh saplings covering an area about
at Silchar. These initiatives will enable these hospitals in
1,613.39 Ha within and outside mine leasehold area in FY
providing high-quality healthcare services at an affordable
2022-23.
cost to the underprivileged sections of the society.
Eco Parks have been developed in many of the mined out
Other themes which were given due focus during the year were
areas and command areas of CIL like Madhuvan Vatika in
Education & Livelihood, Rural Development, Environmental
ECL, Govardhan Eco-Park in BCCL, Bishrampur Tourism
Sustainability and Women Empowerment. Many high-
Site in SECL, Nigahi Eco Park in NCL, Balgangadhar Tilak
investment, high-impact CSR projects were continued during
Eco-Park in WCL, Kayakalp Vatika in CCL, Chandra Sekhar
the year such as the Thalassemia Bal Sewa Yojana (TBSY)
Azad Eco-park in MCL, etc.. CIL has established 30 Eco-
which crossed the milestone of 300 Bone Marrow Transplants
parks & Mine Tourism & eco-restoration sites till FY 2022-23.
during the year, infrastructure upgrade of cancer hospital at
Effluent treatment facilities for mine, workshop & CHP Nagpur, border road construction in Uttarakhand and skill
effluents like oil & grease traps, sedimentation ponds and development in various employment-oriented trades.
002-115 116-332 333-513
CIL and CCL jointly organized a ‘CSR and Sustainability Conclave’ on 6th and 7th May 2022 at Ranchi where 12 thought leaders/
domain experts shared their thoughts with 250+ participants which included executives engaged in CSR, students from local
academic institutes and management of CIL & subsidiaries.
To document the efforts of Coal Indians during COVID-19, CIL published a coffee table book “CIL wins over COVID-19”. The
book highlighted the tireless endeavours of CIL personnel in ensuring uninterrupted coal supply to the nation, ease of doing
business efforts and the initiatives taken for ensuring high-quality treatment for the community. The book was unveiled by the
Hon’ble Minister (Coal) in New Delhi on 27th June 2022.
CIL’s unwavering commitment towards the development of the society got recognised through the All India Management
Association’s (AIMA) 9th Business Responsibility Summit & Project Contest held in August 2022. The Thalassemia Bal Sewa
Yojana scheme of CIL stood runner’s up among all CPSEs.
CSR budget vs expenditure for FY 22-23 for CIL (HQ)

S. No. Item Amount (J crore)
1 CSR budget as per minimum statutory provisions 7.10
2 CSR budget as per CIL’s CSR policy (incl. carryover) 118.04
3 Expenditure incurred 42.04
CSR budget vs expenditure for FY 22-23 for CIL (HQ)

As a % of Total
Expenditure in F.Y.
S. No. Thematic Area CSR Expenditure in
2022-23 (J crore)
F.Y. 2022-23
1 Healthcare, Nutrition & Sanitation 25.64 60.99%
2 Education & Livelihood 9.76 23.21%
3 Rural Development 2.71 6.45%
4 Environmental Sustainability 1.82 4.35%
5 Women Empowerment 1.50 3.57%
6 Promotion of Art & Culture 0.28 0.67%
7 Administrative expenditure and Impact assessment 0.33 0.78%
Total (subject to audit) 42.04 100.00%
Major Projects for which CSR fund was utilized in FY 22-23 Education
by CIL (HQ)
a) H 1.05 crore were utilized for construction of a
Healthcare hostel facility at Vidya Bharti School, Govindnagar,
Hoshangabad, Madhya Pradesh.
a) The second phase of CIL’s flagship project Thalassemia
Bal Sewa Yojana (TBSY) concluded in FY 2022-23 with b) H 1.84 crore were utilised for construction of additional
a total CSR fund utilization of H 9.40 crore during the building for capacity augmentation of Bhakti Vedanta
year on cure and better management of Thalassemia National School, Mayapur, West Bengal.
and Aplastic anemia of eligible patients. One more
hospital was empaneled under the scheme to increase c) H 1.39 crore were utilised for construction of 1st and
the coverage of the scheme. 2nd floors of hostel building for upcoming residential
school at Joka, Kolkata with a capacity of 1,000
b) An amount of H 4.00 crore have been utilized on underprivileged/tribal students.
construction of 7th Floor of National Cancer Hospital,
Nagpur. d) Over 300 surveyed off computers have been repaired
and distributed to different charitable/govt. schools to
c) An amount of H 2.78 crore was utilized for setting up enable digital literacy in these schools.
of three oxygen plants in three govt. hospitals of West
Bengal. Rural Development
d) CIL supported procurement of gym equipment in a) An amount of H 2.28 crore was utilised for construction
38 Gram Panchayats in Mandi district of Himachal of a border road in Chamoli, Uttarakhand.
Pradesh for promotion of physical health. An amount
Environmental Sustainability
of H 1.16 crore was utilised for this project.
a) An amount of H 1.40 crore was utilised as a contribution
e) H 1 crore were utilised towards the purchase of a
to Wildlife Institute of India (WII), Dehradun for solving
digital mammography machine at Tata Medical Centre,
bio-diversity challenges through innovative solutions
Kolkata which is a prominent cancer hospital catering
based on rigorous scientific knowledge.
to patients from Eastern and North Eastern India.
Other Themes
a) Skill Development – H 83 lakhs were utilised for construction of a natural fiber diversified product training centre for women
at Murshidabad, West Bengal.
b) Sanitation – H 78.28 lakhs were utilised for commissioning of a Sewage Treatment Plant using green, opex-optimizing soil
bio technology at Mayapur, West Bengal.
c) Nutrition – H 63 lakhs were utilised for food distribution to needy persons in Assam’s flood affected areas.
d) Protection of Art & Culture – H 28.24 lakhs were utilised for ‘Bharat Ke Kaladharmi’ project for supporting livelihoods of
performing artists affected by COVID-19.
e) Women Empowerment – H 10.67 lakhs were utilised for legal marriages and skill training of ‘Dhuku’ tribal women living in
live-in relationships in Khunti, Jharkhand.
002-115 116-332 333-513
Annexure A
S&T projects of Ministry of Coal during 2022-23

Sl.
Title of the Project Implementing Agency Remarks
No
1. Indigenous Development of Early Warning Radar Society for Applied Microwave Electronics Engineering On-going
System for predicating failures/slope instabilities in and Research (SAMEER), CSRE; IIT-B, Mumbai and
opencast mines. [Project code: MT-169] CMPDI, Ranchi
2. Development and Field Trial of 500 T Capacity IIT-ISM, Dhanbad, SECL, Bilaspur, M/s Andhra Pradesh On-going
SAGES-III for Use with Continuous Miners Heavy Machinery & Engineering Limited (APHMEL),
(Phase-III) [Project code: MT-171] Vijayawada and M/s Jaya Bharat Equipment Pvt. Ltd.
(JBEPL), Hyderabad
3. Indigenous Development of IoT Enabled CMPDI, Ranchi, IIT, Kharagpur & Eastern Coalfields On-going
Technology for Monitoring, Analysis and Limited (ECL), Sanctoria
Interpretation of Longwall Shield Pressures for
Improving Safety and Productivity
[Project code: MT-172]
4. Assessment of Rare Earth Elements (REE) and Punjab University, Chandigarh, CMPDI, Ranchi & Duke On-going
other economic resources in Coal & Non-Coal University, USA
Strata and Characterization of Acid Mine Drainage
and its pollution control from the North Eastern
Region (NER) Coalfield [Project code: EE-51
5. Study of hazards due to mining induced sub- IIT-ISM, Dhanbad and ECL, Sanctoria On-going
surface cavities and waterlogged areas in
inaccessible old workings in underground coal
mines using geophysical technique
6. Establishment of Geo-thermal energy (20KW Cap) Singareni Collieries Company Ltd, Kothagudem and On-going
power generation Pilot Project at Manuguru area of Shiram Institute for Industrial Research, New Delhi
SCCL Command area based on closed loop Binary
Organic Rankine Cycle Process technology
[Project code: CE-33]
7. Utilization of low grade coal for production of high Indian Institute of Technology (BHU), Varanasi, Indian On-going
quality graphene and carbon nano-particles for Institute of Petroleum and Energy, Visakhapatnam,
energy storage Central Coalfields Ltd., Ranchi
[Project code: CU-59]
8. Ultrasonic Washing for Desulphurization of Coal Indian Institute of Technology Guwahati (IITG), Guwahati, On-going
[Project code: CP-51] Avinashilingam Institute for Home Science and Higher
Education for Women (AIHSHEW), Coimbatore,
Tamil Nadu, Kuvempu University, Jnanasahyadri,
Shankaragatta, Tumkur University, Venkatesh Rao
Colony, Tumakuru and NEC, Margherita
9. Prevention of premature failures and enhancing life Centre for Applied Research & Development, NLCIL, On-going
of bottom rollers used in bucket wheel excavators. Neyveli, NIT, Trichy and IISc, Bengaluru
10. Study on Optimal Strategy for Phasing Down Coal School of International Studies (SIS), Jawaharlal Nehru On-going
Uses in India University (JNU), New Delhi
11. Electrostatic deposition and functionalization Amity Institute for Advanced Research & Studies On-going
of multiwalled carbon nanotubes (MWCNTs) (Materials & Devices), Noida
for sensitive & selective detection of Coal Mine
Methane (CMM) [Project code: MT-177]
12. Utilization of Coal Gangue to Develop Porous Indian Institute of Technology, Kanpur & BCCL, Dhanbad On-going
Adsorbents for CO2 Capture
[Project code: CU-60]
13. Use of Micro-seismicity as a tool for underground Indian Institute of Technology, Kharagpur, CMPDI, On-going
mines hazard monitoring with the motive to Ranchi & ECL, Sanctoria
enhance safety and production [Project code:
MT-178]
Sl.
Title of the Project Implementing Agency Remarks
No
14. Biomethanization of coal [Project Code- CE-36] Institute of Science, BHU, Varanasi On-going
15. Reservoir characterization and numerical modelling Indian Institute of Technology, Bombay and CMPDI, On-going
of coal reservoir for enhanced coalbed methane Ranchi
recovery and prospects for carbon sequestration
[Project Code- CE-35]
CIL R&D Projects during 2022-23
Sl.
Name of the Project Implementing Agency Remarks
No
1. Development of guidelines for prevention & mitigation of CIMFR, Dhanbad, IIT-ISM, Dhanbad, S&R On-going
explosion hazards by risk assessment and determination Division, CIL (HQ), Kolkata and SIMTARS,
of explosibility of Indian Coal incorporating risk based mine Australia
emergency evacuation & re-entry protocol.
[Project code: CIL/R&D/1/60/2016]
2. Development of Virtual Reality Mine Simulator (VRMS) for IIT-ISM, Dhanbad, UMD, CMPDI, Ranchi,
improving safety and productivity in Coal mines BCCL , NCL and UQ SMI- JK Tech Pty. Ltd.,
[Project code: CIL/R&D/1/67/2017] Australia
3. Development of an indigenous optical fiber based instrument Innovation Cell, CMPDI in association with On-going
for measuring in-the-hole Velocity of Detonation [VOD] and Mine Electronics Division, CMPDI (HQ),
analyze the performance of explosive in field condition. Ranchi & Blasting Division, CMPDI
4. Effect of Blasting on Opencast Mine Dump and Development Blasting Division, CMPDI; BIT, Mesra and IIT- On-going
of Relationship between Blast Induced Vibration and Dump ISM, Dhanbad
Design.
[ Project code: CIL/R&D/01/73/2021]
5. Design and Development of Drop Test Facility for Pit Bottom CMERI, Durgapur & ECL, Sanctoria On-going
Buffer, used in Underground Coal Mines.
6. Forensic investigation related to Geo-technical aspects in Civil Engineering Division, CMPDI(HQ), On-going
order to stabilize the foundation soil of expansive nature and Ranchi and RI-IV, CMPDI, Nagpur; VNI),
implement suitable ground improvement technology to sustain Nagpur and WCL, Nagpur
and enhance the optimum overburden dump height.
7. Design and deployment of Ventilation Fan Wind Power IIT-ISM, Dhanbad & ECL, Sanctoria
Recovery System as an alternate source of Electrical Energy
in Underground Coal Mines.
8. Design of Protective Barrier Pillar against Large Water Head in IIT (BHU), Varanasi and ECL, Sanctoria On-going
Underground Coal Mines. [Project code: CIL/R&D/01/75/2021]
9. Prediction of particulate matter and gaseous pollutants BIT, Mesra; Environment Division, CMPDI and On-going
concentration through Artificial Neural Network [ANN], NCL
Probabilistic Neural Network [PNN] and Classification
and Regression Tree [CART] models and comparison with
CALPUF and AERMOD in Singrauli coal mines.
10. Appraisal of Gondwana Sediments (Coal, Clay, Shale, Exploration Division, CMPDI (HQ), Ranchi & On-going
Sandstone) for Trace Elements & REE concentration in the NCL
Singrauli coalfields.
[ Project code: CIL/R&D/04/13/2021]
11. Study on performance improvement of coking coal washery NML, Jamshedput; CMP Division, CMPDI On-going
under Coal India Ltd. through modelling and simulation (HQ), Ranchi & BCCL, Dhanbad
analysis. [ Project code: CIL/R&D/02/10/2021]
002-115 116-332 333-513
Sl.
Name of the Project Implementing Agency Remarks
No
12. Effective utilization of middlings and fines of coking coal NML,Jamshedpur; CMPDI(HQ), Ranchi; On-going
washery for recovery of carbon values. [ Project code: BCCL, Dhanbad
CIL/R&D/02/11/2021]
13. Scaling up the conversion of CO2 to methanol and other Jawaharlal Nehru Centre for Advanced On-going
value-added chemicals with 500 Kg CO2/day capacity. Scientific Research (JNCASR), Jakkur,
[Project code :CIL/R&D/04/14/2021] Bangalore; Singareni Collieries Company
Limited (SCCL) Kothagundem;
And BREATHE Applied Sciences Pvt Ltd,
Bangalore
14. Indigenous Development of Monolithic Perovskite Module IIT Bombay; CIL, Kolkata & Mine Electronics On-going
Manufacturing by Printing. Division, CMPDI
15. Up gradation of high ash Indian coal through physical and IIT-Kharagpur; CMPDI; BCCL; CCL and MCL On-going
chemical beneficiation. [Project code: CIL/R&D/02/12/2021]
16. Design and development of knee and spinal smart protective IIT-ISM, Dhanbad and BCCL On-going
devices for improving the health and safety of miners. [Project
code: CIL/R&D/01/76/2021]
17. Development of guidelines for delineation of water stressed IIT-ISM, Dhanbad and CCL On-going
area and designing of environmental friendly water storage
structure for meeting the water needs in mining areas.
18. Real-time energy efficient cyber-physical intelligent system for IIT-ISM, Dhanbad and BCCL On-going
mine slope health monitoring.
19. High ash coal gasification and associated upstream and IIT Bombay; CIL, Kolkata & Mine Electronics On-going
downstream processes (coal to chemical-CTC) [Project code: Division, CMPDI
CIL/R&D/03/03/2017] IIT-Kharagpur; CMPDI; BCCL; CCL and MCL
IIT-ISM, Dhanbad and BCCL
IIT-ISM, Dhanbad and CCL
IIT-ISM, Dhanbad and BCCL
20. Separation and recovery of fine particles from coal washery IIT-ISM, Dhanbad and BCCL, Dhanbad On-going
effluents using bio-coagulant.
(Project code: CIL/R&D/02/13/2022)
21. Highwall Mining Feasibility Assessment and Layout Design. Underground Mining Division (UMD), CMPDI On-going
(Project Code: CIL/R&D/01/78/2022) (HQ), Ranchi; Commonwealth Scientific and
Industrial Research Organisation (CISRO),
Australia and CIL (HQ), Kolkata
22. Development of rational technology for production of ceramic Department of Chemical engineering, Birla On-going
materials from coal mining, washeries and processing wastes. Institute of Technology (BIT), Mesra, Ranchi
(Project Code: CIL/R&D/04/17/2022) and Central Coalfields Limited (CCL), Ranchi
23. Design and development of an integrated system for CIMFR, Dhanbad & Aryan IT Solutions(AITS), On-going
monitoring and control of man and machine, to enhance Dhanbad and CCL, Ranchi
safety and security in mines.
[Project code: CIL/ R&D/1/52/2012]
24. Multiple layer trial blasting for better recovery with less diluted IIT-ISM, Dhanbad and Blasting Division, On-going
coal. (Project code: CIL/R&D/01/61/2016) CMPDI (HQ), Ranchi
25. Development of tandem approach for Paste Fill Technology ECL, Sanctoria and CIMFR, Dhanbad On-going
and extraction methodology by continuous miner (CM)
deployment for Shyampur B Colliery of Mugma Area, ECL
26. Assessment of safe parting thickness and optimal goaf edge IIT (BHU), Varanasi, ECL, Sanctoria, CCL, On-going
support requirement for extraction of pillars under soft cover. Ranchi, and SECL, Bilaspur
[Project Code: CIL/R&D/01/79/2022]
BUSINESS RESPONSIBILITY & SUSTAINABILITY REPORT

SECTION A: GENERAL DISCLOSURES
I. Details of listed entity
1. Corporate Identity Number (CIN) of the Company L23109WB1973GOI028844

2. Name of the Company COAL INDIA LIMITED
3. Year of incorporation 1973
4. Registered office address Coal Bhawan, Premises 04-MAR, Action Area 1A, Newtown
Rajarhat Kolkata-700156
5. Corporate address Coal Bhawan, Premises 04-MAR, Action Area 1A, Newtown
Rajarhat Kolkata-700156
6. E-mail id cgmenv.cil@coalindia.in
7. Telephone 033-23245555
8. Website www.coalindia.in
9. Financial year reported FY2022-23
10. Name of the Stock Exchanges where shares are listed Bombay Stock Exchange and National Stock Exchange
11. Paid-up Capital ( In rupees) 6162.72 crore
12. Name and contact details (telephone, email address) Shri C Jaydev, GM (Environment)
of the person who may be contacted in case of any cgmenv.cil@coalindia.in
queries on the BRSR report 033-23245555
13. Reporting boundary - Are the disclosures under this Consolidated basis
report made on a standalone basis (i.e. only for the
entity) or on a consolidated basis (i.e. for the entity and
all the entities which form a part of its consolidated
financial statements, taken together).
II. Products/services
14. Details of business activities (accounting for 90% of the turnover)
Sl.
Description of Main Activity Description of Business Activity % of turnover of the Company
No.
Production & Sale of Coal and Coal Production & Sale of Coal and Coal 100
Products Products
15. Products/Services sold by the Company (accounting for 90% of the turnover)
Sl.
Product/Service NIC Code % of total Turnover contributed
No.
Coal and Coal Products 0510 100
III. Operations
16. Number of locations where plants and/or operations/offices of the Company are situated:
Location Number of plants* Number of offices** Total

National 322 11 333
International 0 1 1
**Office of subsidiaries and holding companies are included.
*Number of mines
17. Markets served by the Company
a. Number of locations
Locations Number
National (No. of States) Pan India
International (No. of Countries) 1
002-115 116-332 333-513
b. What is the contribution of exports as a percentage of the total turnover of the Company?
0.0045%
c. Types of customers
CIL’s customers can be broadly categorized into two types:
Power Sector Customers: These customers include power generating companies, state electricity boards, and captive
power plants. They are the largest consumers of coal produced by CIL. These customers use coal as a fuel to generate
electricity.
Non-Power Sector Customers: These customers include industries such as cement, steel, aluminium, and other
manufacturing units. They use coal as a fuel for their operations or as a raw material.
IV. Employees
18. Details as at the end of Financial Year, i.e. March 31, 2023:
a. Employees and workers (including differently abled):
Sl. Male Female

Particulars Total (A)
No. No. (B) % (B/A) No. (C) % (C/A)
EMPLOYEES
1. Permanent (D) 16,305 15,083 93 1,222 7
2. **Other than Permanent (E)
3. Total employees (D+E) 16,305 15,083 93 1,222 7
WORKERS
4. Permanent (F) 2,22,905 2,04,333 92 18,572 8
5. *Other than Permanent (G) 1,02,719 1,00,175 98 2,544 2
6. Total workers (F+G) 3,25,624 3,04,508 94 21,116 6
*CIL does not directly employ contract labourers
**Other than permanent worker is referred as contractor workers. Hence pt. 2 will remain blank.
b. Differently abled Employees and workers:
Sl. Male Female

Particulars Total (A)
No. No. (B) % (B/A) No. (C) % (C/A)
DIFFERENTLY ABLED EMPLOYEES
1. Permanent (D) 178 149 84 29 16
2. Other than Permanent (E)
3. Total differently abled employees (D+E) 178 149 84 29 16
DIFFERENTLY ABLED WORKERS
4. Permanent (F) 605 557 92 48 8
5. Other than Permanent (G) NA NA NA NA NA
6. Total differently abled workers (F+G) 605 557 92 48 8
**Other than permanent worker is referred as contractor workers. Hence pt. 2 will remain blank
19. Participation/Inclusion/Representation of women
No. and percentage of Females

Sl. No. Total (A)
No. (B) % (B/A)
Board of Directors 84 6 7
Key Management Personnel 33 1 3
20. Turnover rate for permanent employees and workers (disclose trends for the past 3 years)
FY 2023 FY2022 FY2021

Male Female Total Male Female Total Male Female Total
Permanent Employees 95% 5% 100% 95% 5% 100% 95% 5% 100%
Permanent Workers 95% 5% 100% 96% 4% 100% *
*Total turnover in FY2021 was 17532. Separate non-exe male female data is not available for this year.
V. Holding, Subsidiary and Associate Companies (including joint ventures)
21. Name of holding/subsidiary/associate companies/joint ventures
Indicate whether Does the entity indicated at

Name of the holding/ subsidiary/ % of shares
Sl. Holding/Subsidiary/ column A, participate in the
associate companies/joint held by the
No. Associate/Joint Business Responsibility initiatives
ventures (A) Company
Venture of the Company (Yes/No)
1. Coal India Limited Holding Company
2. Eastern Coalfields Limited (ECL) Subsidiary 100 yes
3. Bharat Coking Coal Limited (BCCL) Subsidiary 100 yes
4. Central Coalfields Limited (CCL) Subsidiary 100 yes
5. Western Coalfields Limited (WCL) Subsidiary 100 yes
6. South Eastern Coalfields Limited Subsidiary 100 yes
(SECL)
7. Northern Coalfields Limited (NCL) Subsidiary 100 yes
8. Mahanadi Coalfields Limited (MCL) Subsidiary 100 yes
9. Central Mine Planning & Design Subsidiary 100 yes
Institute Limited (CMPDIL)
10. CIL Navikarniya Urja Limited Subsidiary 100 yes
11. CIL Solar PV Limited Subsidiary 100 yes
12. Coal India Africana Limitada (CIAL) Subsidiary 100 yes
13. International Coal Ventures Pvt. Ltd. Joint Venture 0.19 yes
14. Hindustan Urvarak & Rasayan Joint Venture 33.33 yes
Limited
15. Talcher Fertilizers Ltd. Joint Venture 33.33 yes
16. CIL NTPC Urja Pvt. Ltd. Joint Venture 50 yes
17. Coal Lignite Urja Vikas Private Joint Venture 50 yes
Limited
VI. CSR Details
22. (i) Whether CSR is applicable as per section 135 of Companies Act, 2013: (Yes/No) Yes
(ii) Turnover (J In crore) 187455.57
(iii) Net worth (J In crore) 57224.76
VII. Transparency and Disclosure Compliances
23. Complaints/Grievances on any of the principles (Principle 1 to 9) under the National Guidelines on Responsible
Business Conduct:
FY 2023 FY2022
Grievance Redressal
Stakeholder No. of No. of
Mechanism in place
group from No. of complaints No. of complaints
(Yes/No)
whom complaints pending complaints pending
(If yes, then provide Remarks Remarks
compliant is filed during resolution at filed during resolution at
weblink for grievance
received the year close of the the year close of the
redressal policy)
year year
Communities Yes 0 0 - 2 0 -
https://pgportal.gov.in/
Investors Yes 0 0 - 0 0 -
(other than https://www.coalindia.
shareholders) in/departments/
Shareholders company-secretary/ 20 0 - 26 0 -
rta-details/
002-115 116-332 333-513
FY 2023 FY2022
Grievance Redressal
Stakeholder No. of No. of
Mechanism in place
group from No. of complaints No. of complaints
(Yes/No)
whom complaints pending complaints pending
(If yes, then provide Remarks Remarks
compliant is filed during resolution at filed during resolution at
weblink for grievance
received the year close of the the year close of the
redressal policy)
year year
Employees and Yes 224 5 - 332 13 -
workers https://
d3u7ubx0okog7j.
cloudfront.net/
documents/whistle-
blower-policy_
TYEsLJw.pdf
Customers Yes 48 0 - 50 0 -
https://pgportal.gov.in/
Value Chain Yes 17 0 - 19 1 -
Partners https://pgportal.gov.in/
Other (please 91 3 - 94 4 -
specify)
24. Overview of the Company’s business conduct, pertaining to environment and social matters that present a risk or
an opportunity to the business of the Company, rationale for identifying the same, approach to adapt or mitigate
the risk along with its financial implications, as per the following format:
Financial implications
Indicate
In case of risk, of the risk or
Sl. Material issue whether risk Rationale for identifying the
approach to adapt or opportunity (Indicate
No. identified or opportunity risk/opportunity
mitigate positive or negative
(R/O)
implications)
1. Water Risk Ensuring the availability of safe CIL is to maximize Negative
Management drinking water is imperative, the utilization of
treated Mine Water
(Consumption and the conservation of
for industrial and
and water resources is of utmost community purposes.
Discharge) importance. CIL has adopted
advanced pisciculture
techniques to convert
local ponds and closed
surface mines into
pisciculture centres
that act as income
generators for the local
populace.
2. Energy Efficiency Opportunity Coal mining operations are - Positive
/ Energy inherently energy-intensive,
requiring significant fuel and
Management
electricity consumption, the
Company actively seeks
opportunities to enhance
energy efficiency. This
commitment not only drives
cost reduction efforts but also
positions the Company on a
path towards embracing green
energy alternatives that are
more environmentally friendly.
By exploring and implementing
measures to improve energy
efficiency, the Company aims
to optimize its operations while
promoting sustainable practices
within the industry.
Indicate
(R/O)
implications)
3. Renewable Risk Given its abundance, - Negative
Energy and clean accessibility, and affordability,
energy coal remains a favoured energy
source in India. However, the
future of coal as an energy
resource presents challenges.
In alignment with India’s
commitment to achieving net-
zero emissions as stated at
COP27, the country faces the
task of transitioning its energy
sector to more sustainable
alternatives. While recognizing
the significance of coal in the
current energy landscape, there
is a growing recognition of the
need to address environmental
concerns and explore cleaner
energy options to meet long-
term sustainability goals.
4. Waste Opportunity Effective waste management - Positive
Management is essential for environmental
protection and CIL is committed
to reducing and effectively
managing hazardous and non-
hazardous waste.
5. GHG Emissions / Risk Impact of climate change has The Company focuses Negative
Climate Change increased in frequency and on the importance of
severity over the years and has GHG reduction and
become an emerging global effective utilization
risk. of energy by
selecting appropriate
environmentally friendly
technologies.
6. Air Emissions Risk Emissions of SOx, NOx, SPM The Company monitors Negative
and particulate matter have SOx, NOx and most
become severe health issues predominantly the
across India. SPM emissions. The
Company has systems
in place to control the
air pollutants emitted
into the atmosphere
and comply with the
applicable laws and
regulations.
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Indicate
(R/O)
implications)
7. Biodiversity and Risk Important to preserve our The Company Negative
land management biodiversity is committed to
minimizing the
impacts on flora
and fauna and has
integrated biodiversity
management and
ecological restoration
into the action plans.
8. Reducing Risk Use of roadways in transporting CIL has substantially Negative
environmental coal impacts the environment increased its rail
impacts during portfolio as a preferred
transportation, mode of transport. The
packaging and majority of our coal is
dispatch transported through
non-road mode.
CIL has also
implemented FMC
projects.
9. Employee Opportunity The Company believes - Positive
Inclusion and that a diverse workplace is
Diversity essential for its growth since
it acknowledges individual
strength and skills they bring to
the workplace.
10. Employee Opportunity The Company understands - Positive
Development that employees equipped
& well-being/ with industry knowledge and
Training & skills are required for the jobs
Education are critical for the long-term
sustenance of the organisation.
Hence, the Company makes
significant efforts to build
employee skills that lead to
professional and personal
growth.
11. Occupational Opportunity Providing a safe workplace - Positive
Health & Safety to the employees is a vital
responsibility. The Company
constantly strive to provide
and maintain safe premises,
machineries, systems and
processes at our operating
locations and thus making it a
attractive working environment.
Indicate
(R/O)
implications)
12. Labour Opportunity CIL is committed to the - Positive
Conditions / global principles and
Human Rights charters on human rights and
Assessment acknowledge the importance
of a discrimination-free
workplace. CIL provides
the right to freedom to all
employees and no child labour
or forced / compulsory labour is
tolerated. This adds value to the
organisation.
13. Community Opportunity The local community’s - Positive
Engagement well-being is vital to the
Company and it ensures that
their concerns, views and
expectations are integrated
into the decision-making
process. The social investments
of the Company align with
the outcome of effective
engagements and a thorough
understanding of their most
pressing needs
14. Socio-Economics Opportunity Socio-economic compliance - Positive
Compliance leads to increased brand value.
(Providing equal
and fair wages)
15. Regulatory Risk Non-compliance can impact the The Company does Negative
Compliance / organisation not tolerate bribery
Anti-Corruption and corruption. It
has established
a ‘Whistle Blower
Policy’ to build and
strengthen a culture of
transparency and trust
in the organisation and
provide employees with
a framework/procedure
for responsible and
secure reporting of
corrupt activities.
16. Business Risk Risk Risks to business can adversely The Company has Negative
Management impact the organisation. established a robust
risk management
system consisting
of a mechanism for
defining, prioritizing
and formulating
contingency strategies
for risks.
002-115 116-332 333-513
Indicate
(R/O)
implications)
17. Grievance Opportunity Value creation for stakeholders The Company Negative
Redressal and understand the varying participates in
Management perspectives of each Centralized Public
System stakeholder group and Grievance Redressal
ensure an open channel of and Monitoring System
communication among all (CPGRAMS), which is a
stakeholders through multiple web-based solution run
avenues. by the Department of
Administrative Reforms
& Public Grievances,
Government of India,
to resolve Public
Grievances. All the
grievances from
employees, customers
& other stakeholders
are resolved using
CPGRAMS.
SECTION B: MANAGEMENT AND PROCESS DISCLOSURES
This section is aimed at helping businesses demonstrate the structures, policies and processes put in place towards adopting the
NGRBC Principles and Core Elements.
Disclosure Questions P1 P2 P3 P4 P5 P6 P7 P8 P9
Policy and management processes
1. a. Whether the Company’s policy/policies Yes Yes Yes Yes Yes Yes Yes Yes Yes
cover each principle and its core
elements of the NGRBCs. (Yes/No)
b. Has the policy been approved by the Yes Yes Yes Yes Yes Yes Yes Yes Yes
Board? (Yes/No)
c. Weblink of the policies, if available https://www.coalindia.in/policies/
2. Whether the Company has translated the Yes Yes Yes Yes Yes Yes Yes Yes Yes
policy into procedures. (Yes/No)
3. Do the enlisted policies extend to the Yes Yes Yes Yes Yes Yes Yes Yes Yes
Company’s value chain partners? (Yes/No)
4. Name of the national and international ISO 9001:2015 Quality Management System
codes/certifications/ labels/ standards (e.g. ISO 14001: Environment Management System,
Forest Stewardship Council, Fairtrade, OHSAS 18001/ISO 45001: Occupational Health and Safety Management
Rainforest Alliance, Trustea) standards (e.g. Systems
SA 8000, OHSAS, ISO, BIS) adopted by the ISO 50001:2018 Energy Management System
Company and mapped to each principle. ISO 37001:2016 Anti Bribery Management System
5. Specific commitments, goals and targets 1. Plantation over 6800 Ha land area in 5 years’ time period (2021-22 to 2025-
set by the Company with defined timelines, 26)
if any. 2. CIL has targeted to supply 3450 Lakh m3 Mine water in 2025-26 for
community use and irrigation purposes.
3. Develop 39 Eco Parks in 5 years’ time period (2021-22 to 2025-26)
Development of 3000 MW Solar Power Project within FY26
6. Performance of the Company against the 1. CIL has achieved plantation over 1613 Ha in 2022-23 against the target of
specific commitments, goals and targets 1510 Ha
along with reasons, in case the same are 2. More than 2,691 Lakh units mine water has been shared for community use
not met. in FY 2022-23.
3. Three eco parks have been developed in 2022-23
Governance, leadership and oversight
7. Statement by Director, responsible for the business responsibility report, highlighting ESG related challenges, targets and
achievements.
Coal India Ltd. is deeply committed to supporting India’s Intended Nationally Determined Contributions (INDCs). In line with
this ambitious goal, the company is actively engaged in pursuing Solar Projects with a capacity of 3 GW, demonstrating its
strong commitment to harnessing renewable energy sources.
Recognizing the pressing need to minimize its carbon footprint, Coal India has prioritized environmentally friendly
transportation initiatives, particularly through first-mile connectivity projects. By implementing these initiatives, the company
aims to enhance the efficiency and sustainability of its operations while reducing its overall environmental impact.
The pursuit of solar projects and the adoption of environmentally friendly transportation solutions reflect significant strides in
Coal India’s journey towards sustainability. By embracing renewable energy sources and implementing innovative transport
initiatives, the company is aligning itself with India’s climate goals and contributing to the nation’s broader sustainability
objectives.
Overall, Coal India’s focus on renewable energy and environment-friendly transportation initiatives reinstate its commitment
to sustainability and its significant role in contributing to India’s climate goals.
8. Details of the highest authority responsible Shri P M Prasad, Chairman CIL
for implementation and oversight of the
Business Responsibility policy(ies).
9. Does the Company have a specified The Directors and senior management of CIL monitor various aspects of
Committee of the Board/ Director social, environmental, governance and economic responsibilities of the
responsible for decision making on Company on a continuous basis.
sustainability related issues? (Yes / No). If The following committees are in place in CIL:
yes, provide details. (i) the Corporate Social Responsibility Committee
(ii) Risk Management Committee
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10. Details of review of NGRBCs by the Company:
Indicate whether review provided Frequency (Annually/Half yearly/

below taken by Director/Committee Quarterly/Any other – please
Subject for review
of the Board/any other Committee specify)
P1 P2 P3 P4 P5 P6 P7 P8 P9 P1 P2 P3 P4 P5 P6 P7 P8 P9
Performance against above policies and
Yes Annually
follow up action
Compliance with statutory requirements of
relevance to the principles, and, rectification Yes Annually
of any non-compliances
P1 P2 P3 P4 P5 P6 P7 P8 P9
11. Has the entity carried out independent
assessment /evaluation of the working of its
No
policies by an external agency? (Yes/No). If
yes, provide the name of the agency.
12. If answer to question (1) above is ‘No’ i.e. not all Principles are covered by a Policy, reasons to be stated:
P1 P2 P3 P4 P5 P6 P7 P8 P9
The entity does not consider the Principle
material to its business (Yes/No)
The entity is not at a stage where it is in a
position to formulate and implement the
policies on specified principles (Yes/No)
The entity does not have the financial or/ NA
human and technical resources available for
the task (Yes/No)
It is planned to be done in the next financial
year (Yes/No)
Any other reason (please specify)
Section C: PRINCIPLE WISE PERFORMANCE DISCLOSURE
Principle 1
Businesses should conduct and govern themselves with integrity, and in a manner that is Ethical,
Transparent and Accountable
Essential Indicators
1. Percentage coverage by training and awareness programmes on any of the principles during the financial year:
Total number of Topics/principles covered %age of persons in respective

Segment training and awareness under the training and its category covered by the
programmes held impact awareness programmes
Board of Directors 3 Familiarization programmes 100
Key Managerial 34 Environmental, Social and
-
Personnel Governance
Employees other than 1339 Technical/ Managerial/
Board of Directors and Behavioural/ Functional
142.90*
KMPs competencies as per the need
of the employees
Workers 1780 As per MVT Rules 1966 &
Special Skill development 32.43
Training
*An employee undergoes multiple training program in a FY
2. Details of fines /penalties/punishment/compounding fees/settlement amount paid in proceedings (by the entity
or by Directors/KMPs) with regulators/law enforcement agencies/judicial institutions, in the financial year:
(Note: the entity shall make disclosures on the basis of materiality as specified in Regulation 30 of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 and as disclosed on the entity’s website)
Monetary
Name of the
Has an
regulatory/ Amount (In J)
NGRBC Brief of the appeal been
enforcement Brief of the Case
Principle Case preferred?
agencies/ judicial Has an appeal
(Yes/No)
institutions
Penalty/ Fine Nil NSE& BSE 19517200 Penalty under
Regulation
17(1),17(2A),18(1),19(1),
Yes
19(2), 20(2/2A) and
21(2) of SEBI LODR
Regulations 2015
Settlement Nil Nil Nil Nil Nil
Compounding fee Nil Nil Nil Nil Nil
Non-Monetary
Has an appeal
NGRBC Name of the regulatory/ enforcement
Brief of the Case been preferred?
Principle agencies/ judicial institutions
(Yes/No)
Imprisonment Nil Nil Nil Nil
Punishment Nil Nil Nil Nil
002-115 116-332 333-513
3. Of the instances disclosed in Question 2 above, details of the Appeal/Revision preferred in cases where monetary
or non-monetary action has been appealed.
Name of the regulatory/enforcement agencies/judicial

Case Details
institutions
Penalty under Regulation 17(1),17(2A),18(1),19(1), 19(2), Company has requested its Administrative Ministry i.e Ministry of
20(2/2A) and 21(2) of SEBI LODR Regulations 2015- Non Coal(MoC) , Govt of India for appointment of requisite number of
appointment of Independent Directors and non-composition of Independent Directors. Company has informed its Board and MoC
various statutory committees as specified in SEBI LoDR 2015. about the details of fines levied by Stock Exchange at regular intervals.
4. Does the Company have an anti-corruption or anti-bribery policy? If yes, provide details in brief and if available,
provide a web-link to the policy.
Yes, the Company has implemented various policies and mechanisms, including a Code of Conduct, Vigilance (Anti-corruption)
measures, a Whistle Blower Policy, and CDA Rules for Executives. These mechanisms serve to promote ethical and transparent
decision-making, actions, and conduct within the company. By upholding these standards, the Company reinforces its
dedication to conducting business in a responsible manner, thereby fostering long-term sustainability. The policies are available
on company’s website at https://www.coalindia.in/policies/.
5. Number of Directors/KMPs/employees/workers against whom disciplinary action was taken by any law
enforcement agency for the charges of bribery/ corruption:
FY 2022-23 FY 2021-22
Directors Nil Nil
KMPs 3 9
Employees 9 4
Workers Nil Nil
6. Details of complaints with regard to conflict of interest
FY 2022-23 FY 2021-22
Number Remarks Number Remarks
Number of complaints received in relation to Nil - Nil -
issues of Conflict of Interest of the Directors
Number of complaints received in relation to Nil - Nil -
issues of Conflict of Interest of the KMPs
7. Provide details of any corrective action taken or underway on issues related to fines / penalties / action taken by
regulators/ law enforcement agencies/ judicial institutions, on cases of corruption and conflict of interest.
Not applicable
Leadership Indicators
1. Awareness programmes conducted for value chain partners on any of the Principles during the financial
year:
Total number %age of value chain partners

of awareness covered (by value of business
Topics / principles covered under the training
programmes done with such partners) under
held the awareness programmes
46 Awarness about terms and conditions of contract,Awarness aboput tenderning procedure, eligibility criteria, 100
salient features of GeM portal, category management, revemue policy and migration of mining tenders to
Gem portal, Workshop on preacutions while filing online bids for different CMC contractors, workshop on
performance of HoE &Transportation contractors & resolutions of issues.
2. Does the entity have processes in place to avoid/ manage conflict of interests involving members of the Board?
(Yes/No) If Yes, provide details of the same.
Yes, conduct for the Board of Directors (BOD) and senior management is a set of guidelines and principles that outline
the expected behavior and ethical standards for individuals in leadership positions within a Company. This code serves
as a framework for decision-making, professional conduct, and accountability, helping to promote transparency, integrity,
and responsible governance. Link-https://d3u7ubx0okog7j.cloudfront.net/documents/Code_of_Conduct_for_Board_
Members_and_Senio__Management_Personnel_23022015_ZX00oJl.PDF.
Principle 2
Business should provide goods and services in a manner that is sustainable and safe
1. Percentage of R&D and capital expenditure (capex) investments in specific technologies to improve the
environmental and social impacts of products and processes to total R&D and capex investments made by the
entity, respectively.
FY2023 FY2022 Details of improvements in environmental and social impacts

R&D 73.45% 78.65% Outcomes of some R&D projects completed during 2021-22 and
Capex 16.71 % 13.85 % 2022-23 relating to environment and ecology are given below:
1. Optimization of ventilation requirement for all underground
mines, where mass production technologies are either
deployed or to be deployed in the future. It will help to improve
working condition in underground mine and ultimately improve
productivity and safety.
2. Methodology developed for surface level estimation of
particulate matter based on CAAQMS data. Developed model
can be fine-tuned by utilizing more number of CAAQMS valid
datasets following the methodology developed in the present
study.
3. A general guideline has been developed relating to maximum
height, slope of dragline and shovel dumper dump on the range
of various geo-engineering parameters for an open cast mines
having Drag line and Shovel dumper in operation. The optimum
internal dump profile comprising of shovel-dumper and dragline
dump considering both safety and land economics has been
predicted, which gives factor of safety equal to or more than
stipulated factor of safety of 1.1 to 1.15.
4. R&D project to evaluate the orchid diversity of North Eastern
Coalfield areas under Digboi Forest Division of Assam, identify
their host ranges and mass multiplication for their conservation.
To improve environment and ecology due to consideration of safety
and conservation of resources, following new research projects
have been taken up during last 2021-22 and 2022-23:
1. Scaling up the conversion of CO2 to methanol and other value-
added chemicals with 500 Kg CO2/day capacity.
2. Indigenous Development of Monolithic Perovskite Module
Manufacturing.
3. Development of guidelines for delineation of water stressed
area and designing of environmentally friendly water storage
structure for meeting the water needs in mining areas.
4. Development of tandem approach for Paste Fill Technology and
extraction methodology by continuous miner (CM) deployment
for Shyampur B Colliery of Mugma Area, ECL.
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2. a. Does the entity have procedures in place for its hazardous waste is transported to authorised vendors,
sustainable sourcing? (Yes/No) who dispose of the waste using appropriate methods
that comply with the applicable laws and regulations. The
b. If yes, what percentage of inputs were sourced company also submits the required documentation to the
sustainably? State Pollution Control Board (SPCB) as mandated. By
adhering diligently to the Hazardous and Other Wastes
Yes. The Company has undertaken the adoption of a
(Management and Transboundary Movement) Rules, 2015,
comprehensive set of Board-approved Environment and
the Company showcases its dedication to responsible
Sustainability Policies, with their implementation being
waste management practices.
carried out throughout the organisation to execute its ESG
strategy. These policies serve as guiding principles to Additionally, the Company has developed guidelines to
align CIL's goals with sustainability performance, identify effectively handle the fly ash produced in its captive thermal
significant sustainability concerns, and enhance monitoring power plants. The guidelines for managing fly ash can be
and mitigation measures throughout the value chain. accessed through this link:
Moreover, the Company recognises that coal mining is a https://d3u7ubx0okog7j.cloudfront.net/documents/CIL_

highly energy-intensive process that requires substantial Fly_ash_guidelines_2019.pdf.
fuel and power consumption. The majority of fuel usage
is attributed to heavy earth moving machines (HEMMs), E-waste: The Company recognises the significance
transportation, ventilation, and pumping activities, while a of e-waste disposal and has implemented a dedicated
smaller portion is allocated to DG sets. In order to reduce e-Waste Policy to ensure efficient and environmentally
its carbon footprint within its operational area, CIL is friendly management of e-waste. The Company's e-Waste
actively prioritizing energy efficiency measures and actively Disposal Policy can be accessed at the following link:
pursuing various carbon-offsetting initiatives. https://d3u7ubx0okog7j.cloudfront.net/documents/CIL_
Corporate_E-_Waste_Policy_tFQLJHH.pdf
3. Describe the processes in place to safely reclaim
your products for reusing, recycling and disposing at 4. Whether Extended Producer Responsibility (EPR) is
the end of life, for (a) Plastics (including packaging) applicable to the entity’s activities (Yes / No). If yes, whether
(b) E-waste (c) Hazardous waste and (d) other waste. the waste collection plan is in line with the Extended
Producer Responsibility (EPR) plan submitted to Pollution
Hazardous waste and other waste: The Company Control Boards? If not, provide steps taken to address the
acknowledges the significance of efficient waste same.
management in protecting the environment. It ensures that
Not Applicable
1. Has the entity conducted Life Cycle Perspective / Assessments (LCA) for any of its products (for
manufacturing industry) or for its services (for service industry)? If yes, provide details in the following
format?
Boundary for Whether conducted Results communicated

Name of % of total which the Life by independent in public domain
NIC Code Product / Turnover Cycle Perspective external agency (Yes/No) If yes, provide
Service contributed / Assessment was (Yes/No) the web-link
conducted
Not Applicable
2. If there are any significant social or environmental concerns and/or risks arising from production or disposal
of your products / services, as identified in the Life Cycle Perspective / Assessments (LCA) or through any
other means, briefly describe the same along-with action taken to mitigate the same.
Name of Product / Service Description of the risk / concern Action Taken

Not Applicable
3. Percentage of recycled or reused input material to total material (by value) used in production (for
manufacturing industry) or providing services (for service industry).
Recycled or re-used input material to total material

Indicate input material
FY2023 FY2022
NA
4. Of the products and packaging reclaimed at end of life of products, amount (in metric tonnes) reused,
recycled, and safely disposed, as per the following format:
FY2023 FY2022
Safely Safely
Re-used Recycled Re-used Recycled
Disposed Disposed
Plastics (including packaging) - a* - - - a*
E-waste 272 PC 108 - - - -
Hazardous waste - Burnt Oil- - - - 448.55
1204 ton litres of
waste oil
Other waste 1644.292 22,287 55,719 m3 1362 m3
m3 m3 sand Overburden overburden
overburden generated
a*Kept in bins and sent to municipality for disposal
5. Reclaimed products and their packaging materials (as percentage of products sold) for each product
category.
Reclaimed products and their packaging materials as % of total products sold

Indicate product category
in respective category
NA
Principle 3
Business should respect and promote the wellbeing of all employees, including those in their value
chains
Essential indicators:
1. a. Details of measures for the wellbeing of employees:
% of employees covered by
*Health *Accident *Maternity Paternity Day Care
Total
Category insurance insurance benefits benefits facilities
(A)
Number % Number % Number % Number % Number %
(B) (B/A) (C) (C/A) (D) (D/A) (E) (E/A) (F) (F/A)
Permanent employees
Male 15083 15083 100 15083 100 NA NA 15083 100 15083 100
Female 1222 1222 100 1222 100 1222 100 NA NA 1222 100
Total 16305 16305 100 16305 100 1222 7 15083 93 16305 100
Other than Permanent employees
Male
Female NA
Total
*1. All permanent employees of CIL are availing treatment free of cost in the company’s hospital and empanelled hospitals of CIL & its subsidiaries.
Retired employees are covered under specified schemes where they can avail treatment upto 25 lakhs. This is in lieu of health insurance.
2. Company provides additional H 90,000 as ex-gratia and compensation of H 15 lakhs in case of fatal mine accident to the next of kin of the
deceased employee in addition to the components mentioned in Employee Compensation Act. Further, Compassionate Employment / Monthly
monetary compensation in case of death of an employee is provided by CIL.
002-115 116-332 333-513
b. Details of measures for the wellbeing of workers:
% of workers covered by
*Health *Accident *Maternity Paternity Day Care
Category Total (A) insurance insurance benefits benefits facilities
Number % Number % Number % Number % Number %
(B) (B/A) (C) (C/A) (D) (D/A) (E) (E/A) (F) (F/A)
Permanent Workers
Male 2,04,333 2,04,333 100 2,04,333 100 NA NA NA NA 2,04,333 100
Female 18,572 18,572 100 18,572 100 18,572 100 NA NA 18,572 100
Total 2,22,905 2,22,905 100 2,22,905 100 18,572 8 NA NA 2,22,905 100
*Other than Permanent Workers.
Male 1,00,175 1,00,175 100 1,00,175 100 NA NA NA NA NA NA
Female 2,544 2,544 100 2,544 100 2,544 100 NA NA 2,544 100
Total 1,02,719 1,02,719 100 1,02,719 100 2,544 2 NA NA 2,544 2
*All permanent workers of CIL are availing treatment free of cost in the company’s hospital & empanelled hospitals of CIL & its Subsidiaries. Retired
workers are covered under specified schemes where they can avail treatment upto 8 lakhs. This is in lieu of health insurance. 2. Company provides
additional H 90,000 as Ex-gratia and compensation of H 15 lakhs in case of fatal mine accident to the next of kin of the deceased worker in addition to
the components mentioned in Employee Compensation Act. Further, Compassionate Employment / Monthly monetary compensation in case of death
of an employee. An amount of H 15 lakh (enhanced from H 5 lakh) is paid to the next of kin of an employee in case of fatal mine accident.
2. Details of retirement benefits, for Current FY and Previous Financial Year.
FY2023 FY2022
Deducted Deducted
No. of No. of No. of No. of
and and
employees workers employees workers
Benefits deposited deposited
covered as covered as covered as covered as
with the with the
a % of total a % of total a % of total a % of total
authority authority
employees workers employees workers
(Y/N/N.A.) (Y/N/N.A.)
PF 100 100 Y 100 100 Y
Gratuity 100 100 Y 100 100 Y
ESI NA NA
Others- please specify NA NA
Besides group gratuity scheme is in vogue wherein gratuity calculation upto superannuation is made in case of death of an
employee/worker.
3. Accessibility of workplaces
Are the premises / offices of the Company accessible to differently abled employees and workers, as per the requirements of
the Rights of Persons with Disabilities Act, 2016? If not, whether any steps are being taken by the Company in this regard.
Yes, the Company is committed to creating an inclusive and supportive work environment by designing and maintaining
workplaces that prioritize accessibility and accommodation for individuals with disabilities. This dedication is demonstrated
through the incorporation of necessary facilities, such as accessible washrooms and ramps, in all company offices.
4. Does the Company have an equal opportunity policy as per the Rights of Persons with Disabilities Act, 2016? If
so, provide a web-link to the policy.
CIL is committed to promote diversity and inclusiveness in workplace where everyone is respected and their distinctive
perspectives, skill and experience is appreciated and adequately rewarded. CIL avoids discrimination and harassment against
any employee based on race, colour, national or ethnic origin, age, religion, disability, sex, sexual orientation, gender identity
and expression.
Moreover, the Company has an equal opportunity policy that can be accessible on company’s website. The weblink for the
policy: https://d3u7ubx0okog7j.cloudfront.net/documents/CIL_Equal_Opportunity_Policy_AN8EiDe.pdf
5. Return to work and Retention rates of permanent employees and workers that took parental leave.
Permanent Employees Permanent Workers

Gender Return to work rate Retention Rate
Return to work rate Retention Rate
(in %) (in %)
Male 100 100 NA NA
Female 100 100 NA NA
Total 100 100 NA NA
There is no provision of paternal leave for workers.
6. Is there a mechanism available to receive and redress grievances for the following categories of employees and
worker? If yes, give details of the mechanism in brief.
Yes/No
(If yes, then give details of the mechanism in brief)
Permanent workers Yes, the Company captures and addresses all grievances from
Other than permanent workers employees, customers, and other stakeholders through CPGRAMS
Permanent employees portal and Samadhan cell. Grievances registered in the portal are
Other than permanent employees redressed as per the stipulated time-frame.
7. Membership of employees and worker in association(s) or Unions recognised by the listed entity:
FY2023 FY2022
No. of No. of
Total Total
employees / employees /
employees/ employees/
workers in workers in
workers in workers in
Category respective respective
respective %(B/A) respective %(D/C)
category, who category, who
category category
are part of are part of
(A) (C)
association(s) association(s)
or Union (B) or Union (D)
Total Permanent Employees 16305 16305 100 15694 15694 100
- Male 15083 15083 100 14536 14536 100
- Female 1222 1222 100 1158 1158 100
Total Permanent Workers 222905 222905 100 232856 232856 100
- Male 204333 204333 100 214396 214396 100
- Female 18572 18572 100 18460 18460 100
8. Details of training given to employees and workers:
FY2023 FY2022
On health and On skill On health and On skill
Category
Total (A) safety measures upgradation Total (D) safety measures upgradation
No. (B) % (B/A) No. (C) % (C/A) No. (E) % (E/D) No. (F) % (F/D)
Employees
Male 15083 4045 26.82 12411 82.28 14536 2277 15.66 9176 63.13
Female 1222 633 51.80 1801 147.38** 1158 279 24.09 1428 123.32**
Total 16305 4678 28.69 13320 81.69 15694 2556 16.29 10604 67.57
Workers*
Male 204333 15079 7.38 42775 20.93 214396 14280 6.66 32899 15.34
Female 18572 1443 7.77 3082 16.59 18460 708 3.84 825 4.47
Total 222905 16522 7.41 45857 20.57 232856 14988 6.44 33724 14.48
* Workers implies Permanent workers
**An employee undergoes multiple training program in a FY
002-115 116-332 333-513
9. Details of performance and career development reviews of employees and workers:
FY2023 FY2022
Category
Total (A) No. (B) % (B/A) Total (C) No. (D) % (D/C)
Employees
Male There is a structured performance appraisal system in existence for employees. Promotions
Female are also given on time based on Cadre Schemes of respective disciplines. Promotion upto
Total E-6 is based on seniority cum merit and from E-7 and above is merit cum seniority.
Workers
Male There is a structured performance appraisal system in existence for employees. Promotions
Female are also given on time based on Cadre Schemes
Total
10. Health and safety management system: and minor incidents, including near-misses, and taking
corrective and preventive actions regarding health and
a. Whether an occupational health and safety safety. To enhance employees' awareness of safety
management system has been implemented by the and their ability to respond to emergencies, initial
entity? (Yes/ No). If yes, the coverage such system? and periodic fire prevention and management training
and drills are conducted within operational areas. The
Yes, the Company places a high priority on the health and
Company maintains a well-established Rescue Teams
safety of its employees. It actively promotes adherence
at strategic locations across various subsidiaries,
to safety rules and practices while encouraging
providing 24x7 emergency response services.
employees to promptly report any potential hazards.
The overarching goal is to foster a productive work c. Whether you have processes for workers to report
environment while minimising the risk of accidents, work related hazards and to remove themselves from
injuries, and health-related issues. To achieve this, such risks. (Y/N)
the Company has developed a comprehensive safety
policy and established internal safety organizations Yes, the Company has established Safety Committees
within all its subsidiaries. These organisations, led by in each mine, which consist of representatives from
the Safety Head, regularly review workplace safety both management and workers. These committees
policies and practices, diligently track and monitor play a crucial role in mitigating the risk of workplace
incidents (including near-misses), and implement injuries and illnesses. Regular meetings are conducted
corrective and preventive actions to ensure health and by the Safety Committee to assess the safety status
safety standards are met. The company also maintains and working conditions. Additionally, the Company
a dedicated Rescue teams at strategic locations, has developed institutional mechanisms to identify
available round-the-clock to address emergencies incidents related to health and safety, implement
promptly. These teams convene on a regular basis to necessary corrective and preventive actions, and
assess safety conditions and address any concerns provide comprehensive health and safety awareness
that may arise. The Company has implemented training.
institutional mechanisms to identify health and safety
incidents, undertake necessary actions, and provide d. Do the employees/ worker of the entity have
awareness training. Through these concerted efforts, access to non-occupational medical and healthcare
the Company remains steadfast in its commitment to services? (Yes/ No)
maintaining a safe work environment and continually
Yes. Coal India Limited, and its subsidiaries offer
improving health and safety practices.
medical facilities to employees and their families
b. What are the processes used to identify work-related through various medical establishments. Medical
hazards and assess risks on a routine and non- facilities of OPD and indoor treatment in Company's
routine basis by the entity? hospitals/ dispensaries are also extended to the
workers engaged by contractors. Moreover, the
The Company has developed a clearly defined safety Company places special emphasis on Occupational
policy. Regular reviews of workplace safety policies Health and conducts HIV/AIDS awareness programmes
and practices are conducted by the Safety Head. Each for the well-being of its employees and their families.
operational unit is responsible for monitoring major
11. Details of safety related incidents, in the following format:
Safety Incident /Number Category FY2023 FY2022

Lost Time Injury Frequency Rate (LTIFR) (per one million- Employees 0.27 0.44
person hours worked) Workers 0.2 0.30
Total recordable work-related injuries Employees 67 152
Workers 10 20
No. of fatalities Employees 11 14
Workers 10 10
High consequence work-related injury or ill-health Employees 52 47
(excluding fatalities) Workers 8 10
Note: Recordable work-related injuries are taken as minor and reportable injuries; High consequence work-related injuries are
taken as serious injuries.
12. Describe the measures taken by the entity to ensure improve safety practices and enhance safety awareness
a safe and healthy workplace. among employees.
The Company prioritises safety and recognises the value Further, regular coordination meetings with Inspecting
of every life, taking proactive measures to ensure a safe and Safety Officers (ISOs) were held to assess the safety
working environment. Each incident undergoes thorough status of mines and ensure effective safety management.
investigation to identify safety breaches and disseminate The Company also introduced mist-type fixed and trucks
valuable lessons learned. Numerous initiatives are mounted water cannons in open-cast mines to control dust
consistently implemented at all levels, aiming to transform and address fire hazards effectively.
the concept of ‘Zero Harm Potential’ (ZHP) into a reality.
Regular sensitisation sessions are conducted for all Short video clips and animation films were created to
employees, including members of safety committees and educate employees on various mine safety procedures,
contractual workers, to reinforce safety protocols and raise operational dos and don'ts, and lessons learned from past
awareness. mine accidents. CIL implemented the concept of Suraksha
Mitra Mandali/Circle to foster a safety culture among
CIL conducted thorough safety audits of its mines using employees and encourage their active participation in
multidisciplinary Inter Area Safety Audit teams. In additione, promoting safety.
a reassessment of audits conducted by auditors was
carried out through Check Audits for 10% of CIL mines by Precautionary measures were taken to minimise risks
an Inter Subsidiary team. CIL reviewed and complied with during monsoons. Micro and macro-level action plans were
control measures in SMPs and PHMPs to ensure effective developed and implemented to ensure mine safety during
safety management. the monsoon season. CIL conducted initial and refresher
training programmes, on-the-job training, and simulator
SOPs in all mining operations were diligently followed, training for HEMM operators to enhance their skills and
promoting standardised and safe practices. The Company knowledge on mine safety.
also conducted scientific studies on OB dumps, benches,
and SCAMP in underground mines to gain valuable insights In addition, CIL developed comprehensive procedures
and enhance safety measures. for immediate notification, safe withdrawal of individuals
from danger, rescue operations, provision of first aid and
Toolbox safety talks and pre-shift safety briefings were medical treatment, and training on critical operations and
conducted to assess safety hazards effectively before mine emergencies. Also, regular mock rehearsals were
initiating operations. CIL introduced Personal Safety conducted to evaluate the effectiveness of the Emergency
Counselling and an Employee Assistant Programme Response and Evacuation Plan. Emergency escape routes
to raise safety awareness and sensitise employees to were demarcated in underground mines, and a flow chart
potential risks. Special safety drives were organised to was prepared for efficient communication during crisis
13. Number of Complaints on the following made by employees and workers:
FY2023 FY2022
Pending Pending
Category Filed during resolution at Filed during resolution at
Remarks Remarks
the year the end of the the year the end of the
year year
Working Conditions 0 0 - 0 0 -
Health & Safety 0 0 - 0 0 -
Note: Based on Centralized Public Grievance Redress and Monitoring System (CPGRAMS)
002-115 116-332 333-513
14. Assessments for the year:
% of plants and offices that were assessed (by entity or

statutory authorities or third parties)
Health and safety practices Safety Audit completed in 298 mines of CIL by Multi-disciplinary
Working Conditions Inter-Area Teams. During the said audit safety status of mines
were assessed as per designed format.
15. Provide details of any corrective action taken or underway to address safety-related incidents (if any) and on
significant risks / concerns arising from assessments of health & safety practices and working conditions.
Yes, the Company has undertaken corrective actions as per observations and recommendations of Mine Safety Audit conducted
during 2022-23.
1. Does the entity extend any life insurance or any compensatory package in the event of death of (A)
Employees (Y/N) (B) Workers (Y/N).
Employees - Yes
Workers - Yes
The Company offers compassionate employment and provides monthly monetary compensation in the unfortunate event of an
employee's death. Additionally, a compensation of H15 lakhs is granted to the next of kin of the deceased employee in case of
a fatal mine accident. This compensation is also disbursed in accordance with the Employee's Compensation Act, 1923.
2. Provide the measures undertaken by the entity to ensure payment of statutory dues by the value chain
partners.
As a responsible employer, all the Acts and provisions of the land, are followed to ensure the same.
3. Provide the number of employees / workers having suffered grave consequences due to work-related injury
/ ill-health / fatalities (as reported in Q11 of Essential Indicators above), who are rehabilitated and placed
in suitable employment or whose family members have been placed in suitable employment:
No. of employees/workers that

are rehabilitated and placed in
Total No. of affected
suitable employment or whose
employees/workers
family members have been
placed in suitable employment
FY2023 FY2022 FY2023 FY2022
Employees 11 14 11 14
Workers 10 10 10 10
Note: Job provided to the next of kin of deceased Dept. employees, Contract workers are not eligible. However, compensation
is paid as per statute and additional special monitory relief of H 15 Lakhs is also being provided in each case of fatality in the
mine.
4. Does the entity provide transition assistance programs to facilitate continued employability and the management
of career endings resulting from retirement or termination of employment? (Yes/ No)
Yes, the Company provides a range of employee benefit schemes, including the Coal Mines Pension Scheme (CMPS), which
extends coverage to all employees. Upon reaching the superannuation stage, employees are eligible to receive a monthly
pension of up to 25% of their total emoluments.
Moreover, the Company has implemented the Defined Contribution Superannuation Pension Scheme (DCSPS) for executives,
including those at the Board level and below, in accordance with DPE guidelines. This scheme aims to provide post-retirement
superannuation benefits in the form of an annuity, which is facilitated through an Annuity Service Provider.
5. Details on assessment of value chain partners:
% of value chain partners (by value of business done with

such partners) that were assessed
Health and safety practices Contractor’s HOE patches maintain Safety practices as per
Working Conditions requirement of applicable statutes and provisions made under
contract.
6. Provide details of any corrective actions taken or underway to address significant risks / concerns arising from
assessments of health and safety practices and working conditions of value chain partners.
The Company continuously implements a range of initiatives at all levels to turn the vision of "Zero Harm Potential (ZHP)"
into a reality. At the sites, the Company has implemented several measures to promote safety. These measures include the
development of a code of practice for HEMM Operators, Maintenance Crew, and others, the use of eco-friendly surface miners
for blast-free mining to minimize associated risks, the installation of an Automatic Fire Detection & Suppression System (AFDSS),
and the deployment of indigenous solar-powered real-time dump monitoring devices and slope stability radars to provide early
warning for slope movement in mines and OB dumps. Furthermore, the Company has implemented a GPS-based Operator
Independent Truck Dispatch System (OITDS) in large OCPs to track the movement of HEMMs inside open-cast mines.
In addition to these key initiatives, the Company takes various measures to prevent accidents, work-related illnesses, and
occupational diseases. The safety program encompasses accident investigation, emergency response, ergonomics, hazard
identification and risk assessment, wellness initiatives, and regular workplace inspections. Throughout the reporting period,
the operational locations underwent both external and internal safety audits to ensure compliance. The Company has allocated
sufficient funds to prioritize safety and ensure that it is not compromised due to a lack of resources.
Principle 4
Business should respect the interests of and be responsive to all its stakeholders
1. Describe the processes for identifying key stakeholder groups of the Company.
CIL demonstrates a proactive approach in engaging with its stakeholders and valuing their perspectives, which in turn plays
a crucial role in maintaining a competitive edge in the global market. Stakeholders are identified using the key principles of
inclusiveness, materiality, and responsiveness, with the overarching goal of fostering collaboration and achieving mutually
beneficial outcomes.By embracing the principle of inclusiveness, CIL ensures that a diverse range of stakeholders is considered
and involved in its decision-making processes. This includes but is not limited to employees, customers, shareholders, suppliers,
local communities, and regulatory bodies. Recognizing that each stakeholder group holds unique insights and interests, CIL
actively seeks their input and actively listens to their concerns and expectations.
2. List stakeholder groups identified as key for the Company and the frequency of engagement with each stakeholder
group.
Whether Channels of communication Frequency of Purpose and scope of

identified as (Emails, SMS, Newspapers, engagement engagement including
Stakeholder
vulnerable & Pamphlets, Advertisements, (Annually, Half yearly, key topics and
Group
marginalised Community Meetings, Notice quarterly /others- concerns raised during
group (Yes/No) Board, Website, Others) please specify) such engagement
Shareholders No Earning calls, Meetings, Continuous process Regulatory compliances
Investor, Conferences,
AGM, Website, Emails, SMS,
Newspapers,
Customers No Regional Coal Consumers Continuous process Customer satisfaction
Council meetings with and timely redressal of
customers, grievances
Meeting between customers
and the marketing team,
Online filing and redressal of
complaints
002-115 116-332 333-513
Whether Channels of communication Frequency of Purpose and scope of

identified as (Emails, SMS, Newspapers, engagement engagement including
Stakeholder
vulnerable & Pamphlets, Advertisements, (Annually, Half yearly, key topics and
Group
marginalised Community Meetings, Notice quarterly /others- concerns raised during
group (Yes/No) Board, Website, Others) please specify) such engagement
Land Losers No Public hearing as a part of As and when required Rehabilitation and
statutory compliance, resettlement (R&R)/
Environmental clearance,
Forest land clearance
Employees No Corporate-level industrial Continuous Process Job satisfaction ,
relation meetings with wages and welfare
union leaders, Trainings and ,Learning and
seminars, Safety Fortnight, development
Vigilance Awareness Week ,Health and wellness
Suppliers & No Interactive Meetings and As and when required Notice inviting tenders
Contractors Sessions during tenders,
Vendor meetings
Knowledge No Trainings Continuous Process Research and
partners development of new
and R&D technology
associates
Government/ No Performance report, Annually and Quarterly Regulatory compliance
Statutory and Board meetings
Regulatory Compliance
Bodies Report, Inspection
Media No Press releases and interviews As and when required Achievement of

Company, performance,
progress
Local Villagers/ No Sustainable development Continuous process Livelihood options and
Community initiatives, job opportunities
CSR activities
NGOs No Direct engagement, public As and when required Impact of mining

forums like panel discussions activities on local
etc community CSR
activities
Leadership Indicators meetings, workshops, and other communication channels

and also conducts a materiality assessment exercise to
identify sustainability challenges and opportunities relevant
1. Provide the processes for consultation between
to both the business and stakeholders. This assessment
stakeholders and the Board on economic,
helps prioritize material topics. Internal stakeholders
environmental, and social topics or if consultation
from various departments within the Company, such as
is delegated, how is feedback from such
legal, procurement, sustainability, marketing, corporate
consultations provided to the Board
governance, and Human Resource departments, provide
Continuous engagement and dialogues with the their inputs on the identified material topics. The inputs
stakeholders enables the Company to understand the collected from internal stakeholders are used to prioritise
needs and views of the stakeholders. To facilitate this the material topics into categories such as major, significant,
the Company, by using the principles of inclusiveness, and moderate based on their criticality. The sustainability
materiality, and responsiveness identifies and categorizes team and senior management review and finalise the
stakeholders into four groups. Moreover, the Company material topics based on their relevance and importance
interacts with each stakeholder group and strives to to stakeholders and the organisation's success and
understand their concerns and key expectations. lastly the Company provides feedback from stakeholder
consultations to the Board. This feedback includes the
The Company engages with stakeholders regularly identified material topics, stakeholders' concerns and
through various mediums to understand their concerns expectations, and the organisation's vision, strategy, action
and expectations. This can include surveys, focus groups, plans, goals, and performance for each material topic.
2. Whether stakeholder consultation is used to industry guidelines and inputs from internal stakeholders
support the identification and management of across various departments. The inputs received from
environmental, and social topics (Yes / No). If so, stakeholders, including legal, procurement, sustainability,
provide details of instances as to how the inputs marketing, corporate governance, and Human Resource
received from stakeholders on these topics were departments, were collated and prioritised based on the
incorporated into policies and activities of the criticality of the identified topics.
entity.
The sustainability team and senior management then
Yes. Stakeholder consultation is used to support the reviews and finalises the material topics. This demonstrates
identification and management of environmental how stakeholder inputs are incorporated into the
and social topics. The Company actively engages with Company's policies, activities, and reporting, ensuring
stakeholders to understand their needs, concerns, that their perspectives are considered in decision-making
and expectations. This input from stakeholders is then processes.
integrated into the Company's business decisions and
strategies. Through regular interactions with stakeholders, 3. Provide details of instances of engagement with,
the Company strives to understand their concerns and and actions taken to, address the concerns of
expectations related to environmental and social topics. vulnerable/ marginalized stakeholder groups.
These inputs are considered during the materiality
The Company identifies vulnerable and marginalized
assessment process, which helps identify sustainability
groups and strives to bring about meaningful social, moral,
challenges and opportunities relevant to both the business
and environmental change. In the regions surrounding its
and stakeholders.
facilities and business operations, the Company supports
During the reporting period, the Company conducted the development of vulnerable and marginalised people.
a comprehensive materiality assessment based on Each year, the Company and conducts evaluations to
determine the requirements of the communities.
Principle 5
Business should respect and promote human rights
1. Employees and workers who have been provided training on human rights issues and policy(ies) of the entity, in
the following format
FY2023 FY2022
No. of No. of
Category employees employees
Total (A) % (B/A) Total (C) % (D/C)
/workers /workers
covered (B) covered (D)
Employees
Permanent 16305 784 4.81 15694 745 4.75
Other than Permanent** Other than Permanent worker is referred as contractor workers.
Total Employees 16305 784 4.81 15694 745 4.75
Workers
Permanent 222905 924 0.41 232856 665 0.29
*Other than Permanent 102719 0 0 91175 8 0.00
Total Workers 325624 924 0.28 324031 673 0.21
*CIL does not directly employ contract labourers
**In the process of capturing data for other subsidiaries
002-115 116-332 333-513
2. Details of minimum wages paid to employees and workers, in the following format:
FY2023 FY2022
Equal to More than Equal to More than
Category Total Minimum Wage Minimum Wage Total Minimum Wage Minimum Wage
(A) % % (D) % %
No. (B) No. (C) No. (E) No. (F)
(B/A) (C/A) (E/D) (F/D)
Employees
Permanent 16,305 - - 16305 100 15694 - - 15694 100
Male 15,083 - - 15083 100 14536 - - 14536 100
Female 1,222 - - 1222 100 1158 - - 1158 100
Other than - - - - - - - - - -
Permanent
Male - - - - - - - - - -
Female - - - - - - - - -
Workers
Permanent 222905 - - 222905 100 232856 - - 232856 100
Male 204333 - - 204333 100 214396 - - 214396 100
Female 18572 - - 18572 100 18460 - - 18460 100
Other than 102719 42688 42 60031 58 91175 - - - -
Permanent
Male 100175 41000 41 59175 59 - - - -
Female 2544 1688 66 856 34 - - - -
1. Executives (employees)- The pay scales as recommended by the DPE are paid with the approval of CIL Board and issuance
of Presidential Directive by the concerned Ministry.
2. Non-Executive(workers)- The employees are paid wages in terms of the bipartite agreement between the Management and
the workmen representative as negotiated in the Joint Bipartite Committee for Coal Industry (JBCCI) and the agreement
thereafter termed as National Coal Wage Agreement (NCWA)/ Wage agreement for CIL & SCCL.
3. Details of remuneration/salary/wages, in the following format:
Permanent Employees Permanent Workers

Median remuneration/ Median remuneration/
Gender
Number salary/wages of Number salary/wages of
respective category respective category
Board of Directors (BoD) 5 6090290.56 0 0
Key Managerial Personnel 7 6,000,525.99 0
0
(KMP)
Employees other than BoD and 340 2,580,537.49 83
2247053.01
KMP
Workers 798 1546732.74 128 1373234.42
1 Only CIL Standalone has been considered.
2 Non- executive employees have been under woker category
3 Annual gross salary have been taken in calculation of median remuneration
4. Do you have a focal point (Individual/ Committee) responsible for addressing human rights impacts or issues
caused or contributed to by the business? (Yes/No)
Yes, the Company ensures the functioning of committees such as the Steering Committee, JCC, Welfare Committee at its
subsidiaries to effectively address various issues, including those related to human rights. These committees’ function as
bipartite forums consisting of representatives of Management and Trade Unions affiliated to Central Trade Unions operating in
the Coal Industry.
5. Describe the internal mechanisms in place to redress grievances related to human rights issues.
The Company demonstrates its full commitment to upholding human rights throughout its operations, emphasizing its responsible
approach to engaging with stakeholders. In order to ensure compliance with applicable labor statutes, the Company enters
into comprehensive formal agreements with all its suppliers, contractors, and vendors providing services. These agreements
contain specific provisions and conditions that mandate adherence to various labour regulations concerning their respective
employees and workers. Moreover, grievances of all employees are redressed through CPGRAMS / PG Portal, which is an online
platform for grievance redressal. By implementing these measures, the Company actively promotes ethical labour practices and
underscores its dedication to protecting and respecting Human Rights throughout its supply chain.
6. Number of Complaints on the following made by employees and workers:
FY2023 FY2022
Pending Pending
Filed Filed
Category resolution resolution
during Remarks during Remarks
at the end at the end
the year the year
of the year of the year
Sexual Harassment 1 0 Penalty has been 0 0 -
imposed on the
guilty
Discrimination at workplace 3180 0 3172 0 All grievances
Child Labour All grievances received through
Forced Labour/Involuntary received through CPGRAMS are
Labour CPGRAMS are redressed in
Wages redressed in the the shortest
Other Human rights related shortest possible possible time
issues time and there is and there is no
no segregation segregation made
made in the in the subject of
subject of grievance.
grievance.
7. Mechanisms to prevent adverse consequences to the complainant in discrimination and harassment cases.
The Company has implemented various policies and mechanisms, including a Code of Conduct and a Whistleblower Policy,
to ensure that its decisions, actions, and conduct maintain its ethical standards. Moreover, the Company has implemented the
integrated Centralized Public Grievance Redressal and Monitoring System (CPGRAMS), a web-based solution administered
by the Department of Administrative Reforms & Public Grievances, Government of India. This system enables the resolution
of public grievances by capturing and addressing complaints from employees, customers, and other stakeholders through the
CPGRAMS portal.
The Company maintains strict confidentiality regarding the identity of the complainant and handles all harassment cases with
utmost privacy. If an individual is found guilty, the company takes strict actions to address the issue. Furthermore, the Company
has established an Audit Committee, which reviews the functioning of the Whistle-blower mechanism at periodic intervals.
8. Do human rights requirements form part of your business agreements and contracts? (Yes/No)
Yes
9. Assessment for the year:
% of the Company’s plants and offices that were assessed

(by the Company or statutory authorities or third parties)
Child Labour Regular third part audits are conducted
Forced Labour/Involuntary Labour Regular third part audits are conducted
Sexual Harassment Regular third part audits are conducted
Discrimination at workplace Regular third part audits are conducted
Wages Regular third part audits are conducted
Other- please specify
Note: The Internal & external Auditors conduct assessments as per the Audit schedule. Assessments are also
carried out by respective Government authorities and the Company has not received any non-compliance
certification.
Note: As a responsible employer, following all the applicable acts and provisions of the land, it is ensured that no such actions
are made which violates the Act.
10. Provide details of any corrective actions taken or underway to address significant risks / concerns arising from
the assessments at Question 9 above.
NA
002-115 116-332 333-513
1. Details of a business process being modified / introduced as a result of addressing human rights grievances/
complaints.
The Company has not modified any process.
2. Details of the scope and coverage of any Human rights due-diligence conducted.
The Company has not conduced any human rights due-diligence.
3. Is the premise/office of the entity accessible to differently abled visitors, as per the requirements of the
Rights of Persons with Disabilities Act, 2016?
Yes, the Company ensures that all its workplaces (offices) are designed and maintained to be disability-friendly environments. It
ensures the installation of ramps for easy mobility, and other necessary accommodations.
4. Details on assessment of value chain partners:
% of value chain partners (by value of business done with

such partners) that were assessed
Sexual Harassment
Discrimination at workplace
Child Labour The Company has not undertaken the any assessment during
Forced Labour/Involuntary Labour the year.
Wages
Others – please specify
Note : As all the value chain partners of entity have to comply with all the provisions of the law of the land, it is ensured that such
violations do not take place.
4. Provide details of any corrective actions taken or underway to address significant risks / concerns arising
from the assessments at Question 4 above.
NA
Principle 6
Business should respect and make efforts to protect and restore the environment
1. Details of total energy consumption (in Joules or multiples) and energy intensity, in the following format:
Parameter FY 2022-23 FY 2021-22

Total electricity consumption (A) (JOULE) - 1 KWH ≈ 3.6 X 106 J 165844908 X 108 166372782.624 X 108
Total fuel consumption (B) (J) 1 Lt. ≈ 38 X 106 J 166096608.82 X 108 168494560.06 X 108
Energy consumption through other sources (Solar) (C) (JOULE) 246107.412 X 108 141635.808 X 108
Total energy consumption (A+B+C) 332187624.2 X 108 335008978.5 X 108
Energy intensity per rupee of turnover (Total energy consumption/ 17720.87243 21952.93145
turnover in rupees) (332187624.2 X 108 (335008978.5 X 108
/18745.557 X 108 ) /15260.330 X 108 )
Energy intensity (optional) – the relevant metric may be selected by
the Company
Note: Indicate if any independent assessment/ evaluation/assurance has been carried out by an external agency? (Y/N) If yes,
name of the external agency.
Yes. Investment Grade Energy Audit (IGEA) study of 25 Nos. buildings of CIL Subsidiaries has been carried out through Bureau
of Energy Efficiency.
2. Does the Company have any sites / facilities identified as designated consumers (DCs) under the Performance,
Achieve and Trade (PAT) Scheme of the Government of India? (Y/N) If yes, disclose whether targets set under the
PAT scheme have been achieved. In case targets have not been achieved, provide the remedial action taken, if any.
Not applicable. The Company doesn’t fall under PAT scheme
3. Provide details of the following disclosures related to water, in the following format:
Parameter FY2023 FY2022

Water withdrawal by source (in Lakh kilolitres)
(i) *Surface water 318.45 332. 07
(ii) Groundwater Nil Nil
(iii) Third party water Nil Nil
(iv) Seawater / desalinated water Nil Nil
(v) Others (Mine water and Collected Rain water) 6102.16 6066.52
*Total volume of water withdrawal (in kilolitres) (i + ii + iii + iv + v) 6420.61 6398.59
Total volume of water consumption (in kilolitres) 5841.37 5750.74
Water intensity per rupee of turnover (Water consumed / turnover) 0.031 0.037
Water intensity (optional) – the relevant metric may be selected by
the entity
Yes. NOC is issued by Central Ground Water Authority (CGWA)
*Partial Disclosure.
4. Has the Company implemented a mechanism for Zero Liquid Discharge? If yes, provide details of its coverage
and implementation.
The Company recognizes the significance of water as a valuable resource and is committed to adopting a zero liquid discharge
approach. To achieve this goal, the Company has already implemented numerous initiatives aimed at optimizing water consumption
and minimizing wastewater generation through various recycling and reuse programs. As part of its efforts, the Company has
planned the construction of a sewage treatment plant (STP) during the fiscal year 2022-23. Additionally, the Company has already
established an Effluent Treatment Plant (ETP) and a Rainwater Harvesting system to further enhance water management practices.
5. Please provide details of air emissions (other than GHG emissions) by the Company, in the following format:
Parameter Unit FY2023 FY2022

NOx Microgram/m3 21.8 22.2
SOx Microgram/m3 21.5 18.60
Particulate matter (PM) Microgram/m3 125.8 115.8
Persistent organic pollutants (POP) NA Not Applicable Not Applicable
Volatile organic compounds (VOC) NA Not Applicable Not Applicable
Hazardous air pollutants (HAP) NA Not Applicable Not Applicable
Others – please specify NA Not Applicable Not Applicable
name of the external agency. Yes. All evaluation are carried out by CMPDI
6. Provide details of greenhouse gas emissions (Scope1 and Scope 2 emissions) & its intensity, in the following format:

Total Scope 1 emissions (Break-up of the GHG into Metric tonnes of 24006330.00 21257230.00
CO2, CH4, N2O, HFCs, PFCs, SF6, NF3, if available) CO2 equivalent
Total Scope 2 emissions (Break-up of the GHG into Metric tonnes of 7495920.00 6637520.00
CO2, CH4, N2O, HFCs, PFCs, SF6, NF3, if available) CO2 equivalent
Total Scope 1 and Scope 2 emissions per rupee of Metric tonnes of 168.05 182.70
turnover CO2 equivalent/ H
Total Scope 1 and Scope 2 emission intensity (optional) - -
– the relevant metric may be selected by the entity
Yes. All evaluation is carried out by CMPDI.

002-115 116-332 333-513
The above assessment is based on CMPDI’s report on In line with this strategy, CIL has signed a Memorandum
‘Carbon Footprint Analysis of CIL and Roadmap for Carbon of Understanding (MOU) with Rajasthan Rajya Vidyut
Neutrality 2020-21’. Utpadan Nigam Ltd (RVUNL) on October 13th, 2022, for the
establishment of a 1190 MW solar power plant at RVUNL's
7. Does the Company have any project related to 2000 MW solar park. Additionally, project DPRs (Detailed
reducing Green House Gas emission? If yes, then Project Reports) for a total of 115 MW capacity are currently
provide details. under approval stage, with respective allocations of 55 MW
from WCL (Western Coalfields Limited), 40 MW from SECL
The company acknowledges that coal mining is an energy-
(South Eastern Coalfields Limited), and 50 MW from MCL
intensive process involving the use of fuel and electricity,
(Mahanadi Coalfields Limited).
which contributes to greenhouse gas (GHG) emissions.
Understanding the environmental impact of GHGs, the Furthermore, CIL is actively implementing approximately
Company is committed to providing affordable energy with 20 MW rooftop solar power projects at various stages
a minimal carbon footprint. To achieve this, the Company across its subsidiaries. The company is also identifying
aims to reduce energy consumption and implement modern additional rooftops to meet the residential and commercial
technologies that effectively mitigate GHG emissions. power demands of its subsidiaries, thereby reducing overall
Through the adoption of multiple initiatives, the Company, power costs.
along with its subsidiaries, has undertaken various projects
focused on carbon reduction. Notably, the Company has To cater to its captive requirements, CIL's subsidiaries
implemented a decentralized Solar Program, comprising have already identified land parcels for the installation of
both rooftop and ground-mounted solar installations, approximately 725 MW of solar projects, complying with
at its sites to further support its efforts in reducing GHG state regulations on open access and grid connectivity. In
emissions. FY 22-23 WCL has reduced 940 Tonnes of CO2 emissions,
by using renewable sources (Solar energy).
Renewable Energy initiatives: Coal India Ltd (CIL) is
strategically positioned to embrace clean energy sources in FMC- FMC projects involve the installation of piped
order to meet its electrical energy requirements. In the fiscal conveyor belts to move coal from pitheads to loading
year 2022-23, the company achieved significant progress points, where a rapid loading system is employed to load
in solar energy generation, with a total of approximately coal into railway rakes. By eliminating the need for road
68.36 lakh units produced through its renewable energy movement of coal and integrating rapid loading systems,
(RE) units, marking a remarkable 70% increase compared several benefits are achieved. These include:
to the previous year.
1. Reduction of transportation cost from coal face to
As part of its commitment to sustainability, CIL has Railway Sidings.
formulated a comprehensive plan to transform into a net-
zero energy company. This includes the establishment of 2. Reduction of diesel consumption and cost for Pay-
3000 MW Solar Power Projects to offset its current reliance loader operation.
on fossil fuel-based power. To drive this initiative, CIL has
3. Reduction of diesel consumption and cost for Truck
established a subsidiary company called 'CIL Navikarniya
operation.
Urja Limited (CNUL)' to explore new business opportunities
in the field of renewable energy. 4. Reduced road maintenance cost for reduced truck
transportation trips and coal spillage.
CIL has devised a three-pronged strategy to accomplish its
3000 MW solar power target: Energy Conservation Measures: Further, a comprehensive
energy conservation initiative has resulted in the
- Development of solar projects on available land
replacement/installation of 1679 energy-efficient ACs,
parcels and rooftops across its subsidiary companies,
18,626 energy-efficient super fans, deployment of 71
wherever feasible.
E-vehicles, replacement of 169 old motors with energy-
- Implementation of solar projects in states with high efficient motors, installation of 1016 auto timers, and
solar potential, such as Rajasthan and Gujarat. procurement/installation of 54,690 KVAR of capacitor
banks.
- Participation in solar tenders organized by SECI (Solar
Energy Corporation of India), DISCOMs (Distribution Carbon sink through Plantation: The Company also planted
Companies), Power exchanges, and other relevant 31.01 Lakh saplings over 1613 Ha land area with a carbon
entities. sink potential of 80,908 tonne CO2 equivalent annually.
8. Provide details related to waste management by the Company, in the following format:

Total Waste generated (in metric tonnes)
Plastic waste (A) - -
*E-waste (B) 380 no. PCs 121 no. of Rescue
0.156MT apparatus
0.230MT
*Bio-medical waste (C) 8.918MT 4.592MT
Construction and demolition waste (D) Nil Nil
*Battery waste (E) 2093 KG 955 KG
Radioactive waste (F) NA NA
*Other Hazardous Waste. Please specify, if any. (G) 1036MT 949MT
(Burnt oil /waste oil)
*Other Non-hazardous waste generated (H). Please specify, if any. 362 no. waste tyres 1362.06 million m3
(Break-up by composition i.e. by materials relevant to the sector) 1644.292 million m3 Overburden
overburden
Total (A+B + C + D + E + F + G + H)
For each category of waste generated, total waste recovered through recycling, re-using or other recovery
operations (in metric tonnes)
Category of waste
(i) *Recycled 360 no. batteries 292 batteries
(ii) Re-used (over burden) 1644.292 million m3 1362.06 million m3
(iii) *Other recovery operations (used oil recovered) 190.12MT 448.55MT
Total
For each category of waste generated, total waste disposed of through disposal method (in metric tonnes)
Category of waste
(i) Incineration *Common biomedical Common waste
waste treatment facility treatment facility
(ii) Landfilling Common waste Common waste
treatment facility treatment facility
(iii) Other disposal operations Used Oil are auctioned Used Oil are auctioned
to authorised resellers to authorised resellers
Scraps are auctioned Scraps are auctioned
through tenders. through tenders.
Lead acid Batteries Lead acid Batteries
are taken back by the are taken back by the
manufacturer after its manufacturer after its
expiry. expiry.
Total
Yes, Assessment has been done at subsidiary level and by 3rd party agency who collected the waste from the subsidiary
companies.
*Partial disclosure
9. Briefly describe the waste management practices has devised various methods to extract sand from the
adopted in your establishment. Describe the overburden, effectively utilizing this resource. Moreover, the
strategy adopted by your Company to reduce usage Company has implemented strategies to reuse mine water,
of hazardous and toxic chemicals in your products which is traditionally considered waste, for industrial and
and processes and the practices adopted to manage domestic purposes, benefiting both internal consumption
such wastes. and nearby communities for drinking and irrigation needs.
The Company acknowledges the significance of waste In terms of non-hazardous waste, the Company handles
management and remains committed to finding innovative materials like High-Density Polyethylene (HDPE) drums,
approaches to reduce and reuse waste responsibly. One metal scrap, plastic barrels, and other process wastes.
notable waste stream generated from the Company's Throughout the reporting period, all hazardous and non-
operations includes overburden, followed by mine water, hazardous waste has been appropriately disposed of
process waste, used oil, and sludge. The Company
002-115 116-332 333-513
through authorized vendors, adhering to the regulations Furthermore, recognizing the importance of responsible
outlined in the Hazardous and Other Wastes (Management e-waste disposal, the Company has formulated a dedicated
and Transboundary Movement) Rules, 2015. Hazardous e-Waste Policy in 2019, outlining efficient and eco-friendly
waste is transported to authorized vendors, where it is methods for disposing of electronic waste. The complete
disposed of using suitable methods in accordance with e-Waste Disposal Policy can be accessed through the
the law, while the requisite documents are submitted to the following link: https://d3u7ubx0okog7j.cloudfront.net/
State Pollution Control Board (SPCB) as mandated by the documents/CIL_Corporate_E-_Waste_Policy_tFQLJHH.
regulatory guidelines. pdf
10. If the entity has operations/offices in/around ecologically sensitive areas (such as national parks, wildlife
sanctuaries, biosphere reserves, wetlands, biodiversity hotspots, forests, coastal regulation zones etc.) where
environmental approvals / clearances are required, please specify details in the following format:
Whether the conditions of environmental approval / clearance

Sl. Location of
Type of operations are being complied with? (Y/N) If no, the reasons thereof and
No. operations/offices
corrective action taken, if any.
1 Murpar UG Mining Operations Yes (Murpar UG is under Ecologically Sensitive Zone (ESZ) of Tadoba
Tiger reserve, Padmapur OC and Durgapur OC are adjacent to ESZ of
Tadoba Tiger reserve.
2 Padmapur OC Mining Operations Yes
3 Durgapur OC Mining Operations Yes
11. Details of environmental impact assessments of projects undertaken by the entity based on applicable laws, in
the current financial year:
Name and Whether

brief details conducted by
EIA Results
Sl. of project independent
Notification Date communicated Relevant Web link
No. (name of external
No. in public domain
mine) agency (Yes
/ No)
1 Mohanpur OC EIA 10-05-2022 Yes Yes https://environmentclearance.
Notification, nic.in/onlinesearchnewrk.
2006 aspx?autoid=40328&proposal_
no=IA/WB/
CMIN/10820/2007&typep=EC
2 Cluster 10 EIA 30-05-2022 Yes Yes https://environmentclearance.
(Amendment) Notification, nic.in/onlinesearchnewrk.
2006 aspx?autoid=320&proposal_no=IA/
WB/CMIN/7663/2011&typep=EC
3 Bhurkunda OC EIA 13-07-2022 Yes Yes https://environmentclearance.
no=IA/JH/
4 Kathara OC EIA 18-10-2022 Yes Yes https://environmentclearance.
no=IA/JH/
5 Selected Dhori EIA 08-02-2023 Yes Yes https://parivesh.nic.in/
Lower OC Notification, newupgrade/#/department/ec-
2006 proposal-detail/2394549
6 Kabribad OC EIA 08-02-2023 Yes Yes https://environmentclearance.
Notification, nic.in/TrackState_proposal.
2006 aspx?type=EC&status=EC_
new&statename=Jharkhand&pno=
SIA/JH/
CMIN/76338/2018&pid=202741
Name and Whether

EIA Results
mine) agency (Yes
/ No)
7 North Urimari EIA 13-02-2023 Yes Yes https://parivesh.nic.in/
OC Notification, newupgrade/#/report/ec-part-c?i
2006 d=2332083&projectId=2293713&c
af=2293938
8 Giddi A OC EIA 24-03-2023 Yes Yes https://environmentclearance.
no=IA/JH/
9 Nigahi OC EIA 26-07-2022 Yes Yes https://parivesh.nic.in/

Notification, newupgrade/#/department/ec-
10 Krishnashila EIA 26-07-2022 Yes Yes https://parivesh.nic.in/
OC Notification, newupgrade/#/department/ec-
11 Amlohri OC EIA 26-07-2022 Yes Yes https://parivesh.nic.in/
12 Khadia OC EIA 27-07-2022 Yes Yes https://parivesh.nic.in/
13 Bina OC EIA 29-07-2022 Yes Yes https://environmentclearance.
Notification, nic.in/auth/ECGeneral_Report.
2006 aspx?pid=40441
14 Jayant OC EIA 20.02.2023 Yes Yes https://parivesh.nic.in/
15 Siarmal OC EIA 05-05-2022 Yes Yes https://environmentclearance.
no=IA/OR/
16 Kulda OC EIA 24-05-2022 Yes Yes https://parivesh.nic.in/
17 Lakhanpur OC EIA 30-05-2022 Yes Yes https://parivesh.nic.in/
18 Bhubaneswari EIA 26-07-2022 Yes Yes https://parivesh.nic.in/
OC Notification, newupgrade/#/department/ec-
19 Garjanbahal OC EIA 09-03-2023 Yes Yes https://environmentclearance.
no=IA/OR/
20 Manikpur OC EIA 26-05-2022 Yes Yes https://parivesh.nic.in/
002-115 116-332 333-513
Name and Whether

EIA Results
mine) agency (Yes
/ No)
21 Chhal OC EIA 02-08-2022 Yes Yes https://environmentclearance.
no=IA/CG/
22 Dipka OC EIA 06-09-2022 Yes Yes https://parivesh.nic.in/
23 Gevra OC EIA 06-09-2022 Yes Yes https://parivesh.nic.in/
24 Khairaha UG EIA 13-12-2022 Yes Yes https://parivesh.nic.in/
25 Saraipalli OC EIA 23-03-2023 Yes Yes https://164.100.213.216/E-Sign/

Notification, Esign/ECLSEIAA_215550_5458Y7_
2006 SIA_CG_CMIN_415356_2023.pdf
26 Singhori OC EIA 23-05-2022 Yes Yes https://parivesh.nic.in/
27 Dinesh OC EIA 26-05-2022 Yes Yes https://parivesh.nic.in/
28 Gauri Pauni EIA 27-12-2022 Yes Yes https://environmentclearance.
OC Notification, nic.in/onlinesearchnewrk.
no=IA/MH/
12. Is the entity compliant with the applicable environmental law/ regulations/ guidelines in India; such as the Water
(Prevention and Control of Pollution) Act, Air (Prevention and Control of Pollution) Act, Environment protection
Act and rules thereunder (Y/N).
If not, provide details of all such non-compliances, in the following format:
Specify the law / Any fines / penalties / action

Sl. regulation / guidelines Provide details of taken by regulatory agencies Corrective action
No. which was not complied the non-compliance such as pollution control boards taken, if any
with or by courts
NA
1. Provide break-up of the total energy consumed (in Joules or multiples) from renewable and non-renewable
sources, in the following format:

From renewable sources
Total electricity consumption (A) (KWH) 6836317 3934328
Total fuel consumption (B) - -
Energy consumption through other sources (C) - -
Total energy consumed from renewable sources (A+B+C) 6836317 3934328
From non-renewable sources
Total electricity consumption (A) (KWH) 4606803000 4621466184
Total fuel consumption (B) (Lt.) 437096339 443406737
Energy consumption through other sources (F) - -
Total energy consumed from non-renewable sources (D+E+F) - -
Yes. Investment Grade Energy Audit (IGEA) study of 25 Nos. buildings of CIL Subsidiaries has been carried out through Bureau
of Energy Efficiency.
2. Provide the following details related to water discharged:

Water discharge by destination and level of treatment (in Lakh kilolitres)
i) To Surface water
- No treatment - -
- With treatment – please specify level of treatment - -
(ii) To Groundwater
- No treatment - -
- With treatment – please specify level of treatment -
(iii) To Seawater
- No treatment - -
- With treatment – please specify level of treatment - -
(iv) Sent to third-parties
- No treatment - -
- With treatment – please specify level of treatment 3,715.60 3,697.33
(Tertiary level)
(v) Others (own use)
- No treatment
- With treatment – please specify level of treatment 3,283.06 3,220.28
(secondary level)
Total water discharged (in Lakh kilolitres) 6,998.66 6,917.61
No, However, Internal assessment has been done at subsidiary level.

002-115 116-332 333-513
3. Water withdrawal, consumption and discharge in areas of water stress (in kilolitres):
No water stress are in CIL. Hence the table is not applicable.
For each facility / plant located in areas of water stress, provide the following information:
(i) Name of the area
(ii) Nature of operations
(iii) Water withdrawal, consumption and discharge in the following format:

Water withdrawal by source (in kilolitres)
(i) Surface water
(ii) Groundwater
(iii) Third party water
(iv) Seawater / desalinated water
(v) Others
Total volume of water withdrawal (in kilolitres) NA
Total volume of water consumption (in kilolitres)
Water intensity per rupee of turnover (Water consumed /
turnover)
Water intensity (optional) – the relevant metric may be selected by
the entity
Water discharge by destination and level of treatment (in kilolitres)
i) Into Surface water
- No treatment
- With treatment – please specify level of treatment
(ii) Into Groundwater
- No treatment
(iii) Into Seawater
- No treatment
NA
(iv) Sent to third-parties
- No treatment
(v) Others
- No treatment
Total water discharged (in kilolitres)
Yes. It was carried out by CMPDI.
4. Please provide details of total Scope 3 emissions & its intensity, in the following format:

*Total Scope 3 emissions Metric tonnes of 807750.00 715250.00
(Break-up of the GHG into CO2, CH4, N2O, HFCs, PFCs, CO2 equivalent
SF6, NF3, if available)
Total Scope 3 emissions [per rupee of turnover ] Metric tonnes of 807750.00 715250.00
CO2 equivalent
Total Scope 3 emission intensity (optional) – the Kgs of CO2 0.63 0.71
relevant metric may be selected by the entity equivalent/ H 1000
of turnover
*Partial disclosure
Yes. It was carried out by CMPDI.

5. With respect to the ecologically sensitive areas reported in Question 10 of Essential Indicators above,
provide details of significant direct & indirect impact of the entity on biodiversity in such areas along-with
prevention and remediation activities.
Due to the mining operation in close proximity to ecologically sensitive areas, there is a potential increase in pollution levels,
including air, water, and noise. In order to prevent and address these concerns, the following prevention and remedial activities
have been proposed:
i. Fencing the entire mining area with solar/electric pulse monitored fences, reaching a minimum height of 10 feet.
ii. Minimizing vehicular transportation and implementing a closed conveyor system for transportation purposes.
iii. Implementing controlled blasting techniques to mitigate the impact of mining activities.
iv. Installing wind barriers to reduce the dispersion of pollutants.
v. Establishing a thick green belt, with a width of 30-40 meters, to effectively mitigate and control dust pollution.
vi. Implementing a 3-tier avenue plantation program to enhance the overall green cover.
vii. Conducting a baseline biodiversity survey of plants and animals to assess the initial ecological conditions.
viii. Restricting the movement of transport vehicles during the nighttime specifically within forested or corridor areas of the TATR
(Tadoba-Andhari Tiger Reserve).
6. If the entity provided below taken any specific initiatives or used innovative technology or solutions to
improve resource efficiency, or reduce impact due to emissions / effluent discharge / waste generated,
please provide details of the same as well as outcome of such initiatives, as per the following format:
Sl. Details of the initiative (Web-link, if any,

Initiative undertaken Outcome of the initiative
No. may be provided along-with summary)
1 Creation of eco parks. Three Eco parks have been developed Centre of recreation for public, and
to reclaimed mining area. Initiatives have overall development of the surrounding
been taken to connect the eco-parks and area. More than 4.02 Lakh footfalls
eco-tourism sites with the tourism circuit of have been recorded in 30 Eco Parks
the state. developed by CIL.
2 Gainful utilization of OB dump Four Sand segragation plants at Availability of Cheaper sand to the
Gondegaon OC, Bhanegaon OC of WCL surrounding areas but the overall impact
Amlori in NCL and Kajora and area of ECL on the environmental pollution due to
have been developed. sand mining was reduced. Also, these
sand segregation plants will improve the
riverine ecosystem, flow, groundwater
recharge potential and water quality in
their courses
3 FMC CIL has taken steps to upgrade the i. Avoidance of road transport and
mechanized coal transportation and consequent air pollution
loading system under ‘First \Mile ii. Improve quality of dispatched Coal
Connectivity’ projects. Above the existing
13 FMC projects of 151 MTY capacity, CIL
has already commissioned 7 FMC Projects
of 92 MTPA capacity.
61 First Mile Connectivity (FMC) projects
of 763.5 MTPA are being implemented in
three phases to consolidate CIL’s effort
towards upgradation and expansion of
coal evacuation infrastructure.
CIL plans to operationalize all the projects
of Phase-I, Phase-II and Phase-III by
FY 28-29 thereby having a cumulative
mechanized Rapid Loading capacity of
914.5 MTPA.
002-115 116-332 333-513
Sl. Details of the initiative (Web-link, if any,

Initiative undertaken Outcome of the initiative
No. may be provided along-with summary)
Effective use of Mine water Supplier 2691.57 Lakh KL of mine water CIL’s effort to make water available to
utilisation for Community communities around its mining areas
benefited more than 11.1 Lakh people
in 2022-23.
7271.32 Acre land area was irrigated in
2022-23.
4 Energy efficiency Installed 1,57,216 LED lights, 1679 52.10 million units Electrical energy
Energy efficient air conditioners, 18,626 saved
Energy efficient super fans, 71 E-vehicles
have been deployed and 169 Old motors 42,725 tonnes of CO2 emission reduced
replaced with energy efficient motors. per annum
Also, CIL has installed 1016 Auto timers
and 54,690 KVAR of capacitor banks have
been procured & installed
5 Implementation of modern Blast free Coal production Around 54% of CIL’s coal production
mining technology or coal (378 MT) was achieved in FY2022-23
production like Surface miner, by surface miners.
Highwall Mining, Continuous 12.4 MT coal produced from UG mines
miner, longwall mining through blast free methods
6 Deployment of Fog Canons for 269 no. of fog canons are in use in CIL Less water consumption than
dust suppression mines for dust suppression conventional method of effective dust
suppression
7. Does the entity have a business continuity and 8. Disclose any significant adverse impact to the
disaster management plan? Give details in 100 environment, arising from the value chain of the
words/ web link. entity. What mitigation or adaptation measures
have been taken by the entity in this regard?
The Company has established a dedicated Risk Management
Committee to oversee and ensure the presence of suitable Coal produced by CIL is predominantly used by TPPs for
methodologies, processes, and systems for monitoring and thermal power generation. Thermal power generation is
evaluating risks associated with the company's business associated with air pollution and fly ash generation. The
operations. Additionally, the Company has formulated TPPs have installed ESP and FGD units for reducing air
a comprehensive risk management policy. This policy pollution. The fly ash generated are supplied to cement
includes a framework for identifying internal and external plants, brick industries and also for filling of voids & road
risks specific to the company, measures for mitigating construction, etc.
risks through the implementation of appropriate systems
and processes for internal control, and the development 9. Percentage of value chain partners (by value of
of a business continuity plan. The weblink for the risk business done with such partners) that were
management policy : https://d3u7ubx0okog7j.cloudfront. assessed for environmental impacts.
net/documents/Risk_Management_Policy_ldunvff.pdf
The accompany take all the necessary steps to Evaluate its
value chain partners
Principle 7
Businesses, when engaging in influencing public and regulatory policy, should do so in a manner that
is responsible and transparent
Essential indicators
1. a. Number of affiliations with trade and industry chambers/associations.
b. List the top 10 trade and industry chambers/associations (determined based on the total members of such body) the
Company is a member of/affiliated to.
Sl. Name of the trade and industry

Reach of trade and industry chambers/associations (State/ National)
No. chambers/associations
1. The Bengal Chamber of Commerce National
2. Indian Chamber of Commerce National
3. SCOPE National
4. FICCI National
5. ASSOCHAM National
6. MGMI INDIA National
2. Provide details of corrective action taken or underway on any issues related to anti-competitive conduct by the
Company, based on adverse orders from regulatory authorities.*
Name of the authority Brief of the case Corrective action taken
* Details are given in Annexure 22 of the Directors' Report
1. Details of public policy positions advocated by the Company:
Whether Frequency of Review

Sl. Public Policy Method resorted information by Board (Annually/ Web Link, if
No. advocated for such advocacy available in public Half yearly/Quarterly/ available
domain? (Yes/ No) Others- please specify)
Engaging with various trade unions and chambers of commerce is crucial for effective public policy advocacy. Such engagement
allows for the exchange of ideas, perspectives, and expertise, enabling the development of well-informed policies that cater to
the needs of both the industry and the workforce. Collaboration with these stakeholders plays a vital role in promoting fair labor
practices, fostering economic growth, and achieving a harmonious business environment.
002-115 116-332 333-513
Principle 8
Businesses should promote inclusive growth and equitable development
1. Details of Social Impact Assessments (SIA) of projects undertaken by the Company, based on applicable laws, in
the current financial year.
Whether Results
SIA conducted by communicated in
Name and brief details of Date of Relevant Web
Notification independent public domain
project notification link
No. external agency (Yes / No)
(Yes / No)
Different development works Not NA Yes Will be Will be uploaded
in Purulia, West Bengal Applicable communicated once report is
(NA) once report is finalized
finalized
Providing neurosurgery NA NA Yes Will be Will be uploaded
related equipment at communicated once report is
Institute of Neurosciences once report is finalized
Kolkata (INK) finalized
Financial assistance for NA NA Yes Will be Will be uploaded
procurement of 2 water communicated once report is
ambulances in Majuli, Assam once report is finalized
finalized
Imparting skill development NA NA Yes Will be Will be uploaded
training to 2000 youth in communicated once report is
plastic engineering trades once report is finalized
finalized
Construction of lab, library, NA NA Yes Will be Will be uploaded
classrooms and hostel communicated once report is
facility at Nivedita Shiksha once report is finalized
Sadan Balika Inter College, finalized
Varanasi
Converting 100 nos. of beds NA NA Yes Will be Will be uploaded
into ICU beds at Karnataka communicated once report is
Institute of Medical Sciences once report is finalized
(KIMS), Hubli, Karnataka finalized
Note : Impact Assessment study has been done in accordance with Companies (CSR Policy) Rules 2014, under Companies Act
2013. The details are for CIL (standalone). Subsidiaries report their Impact assessment details in their respective annual reports/
websites.
2. Provide information on project(s) for which ongoing Rehabilitation and Resettlement (R&R) is being undertaken
by the Company, in the following format:
Name of Project No. of Project % of PAFs Amounts paid to

Sl.
for which R&R is State District Affected covered by PAFs in the FY
No.
ongoing Families (PAFs) R&R (In J)
Katras, AKWMC, Jharkhand Dhanbad 1 100 466526
Tetulmuri Patch
Barora, Left out Patch Jharkhand Dhanbad 31 100 12759600
-B
Durgapur Deep Extn. Maharashtra Chandrapur 140 1 56470000
OC
Amal. Gondegaon Maharashtra Nagpur 71 1 7870000
Ghatrohana OC
Name of Project No. of Project % of PAFs Amounts paid to

Sl.
for which R&R is State District Affected covered by PAFs in the FY
No.
ongoing Families (PAFs) R&R (In J)
Kolarpimpri Extn. OC Maharashtra Yavatmal 11 1 5380000
Gevra OCP Chhattisgarh Korba 26 100 7600000
Jampali OCP Chhattisgarh Raigarh 12 100 3800000
Amadand OCP Madhya Anuppur 176 100 65000000
pradesh
Vindhya UG Madhya Umaria 29 100 9900000
pradesh
Jagannathpur OCP Chhattisgarh Surajpur 18 100 5400000
Kurja UG Madhya Anuppur 2 100 600000
pradesh
Rajmahal Exp. OCP Jharkhand Godda 5892 100 408876000
Hura-C Jharkhand Godda 925 100 28628200
KhottadiH OCP West Bengal Paschim 809 100 11184000
Bardhaman
Sonepur Bazari West Bengal Paschim 4427 100 15235000
Project Bardhaman
Bonjemehari West Bengal Paschim 137 100 No payment has
(Expansion) Bardhaman been made during
the FY 2022-23.
Mohanpur 2.5 MTY West Bengal Paschim 257 100 31702380
Bardhaman
Itapara West Bengal Paschim 312 100 No payment has
Bardhaman been made during
the FY 2022-23.
Gourangdih West Bengal Paschim 460 100 No payment has
(Expansion) Bardhaman been made during
the FY 2022-23.
Gourangdih-Begunia West Bengal Paschim 280 100 88826368
Bardhaman
Chitra East OCP Jharkhand Deoghar 632 100 2400000
Block-B Project Madhya Singrauli 10 1 2900000
Pradesh
Dudhichua Project Madhya Singrauli 61 1 50030000
Pradesh
Jayant Project Madhya Singrauli 360 1 288350000
Pradesh
Amrapali OCP Jharkhand Chatra 2 100 780216
Parej OCP Jharkhand Hazaribagh 47 100 14344212
Magadh OCP Jharkhand Chatra & 109 100 29728840
Latehar
Purnadih OCP Jharkhand Chatra 156 100 31520000
KDH OCP Jharkhand Ranchi 3 100 900000
Ashok OCP Jharkhand Chatra 5 100 1500000
Balaram OCP Odisha Angul 40 1 78260000
Hingula OCP Odisha Angul 45 1 57520000
Lingaraj OCP Odisha Angul 2 1 60000
Bharatpur OCP Odisha Angul 8 1 37020000
Jagannath OCP Odisha Angul 2 1 3340000
Ananta OCP Odisha Angul 55 1 86050000
Bhubaneswari OCP Odisha Angul 1 1 0
Kaniha OCP Odisha Angul 174 1 415570000
Ib-Valley Area Odisha Jharsuguda 21 1 88520000
Lakhanpur Area Odisha Jharsuguda 115 1 71440000
Basundhara Area Odisha Sundergarh 6 1 24490000
Mahalaxmi Area Odisha Sundergarh 25 1 132450000
002-115 116-332 333-513
3. Describe the mechanisms to receive and redress process for grievance redressal. Various mechanisms
grievances of the community. have been put in place at different levels, including the
Samadhan Cell and CPGRAMS, to address grievances.
The Company has implemented the integrated Centralized At the district level, Grievance Redressal Mechanism
Public Grievance Redressal and Monitoring System (GRM) Cells are formed under the leadership of the District
(CPGRAMS), a web-based solution administered by Collector. Additionally, Grievance Redressal Committees
the Department of Administrative Reforms & Public have been established at the project level to address
Grievances, Government of India. This system enables received grievances.
the resolution of public grievances raised by employees,
customers, and other stakeholders through the CPGRAMS Individual representations are given careful consideration
portal. Grievances are diligently captured and addressed to and examined by the relevant officers in the respective
ensure timely resolution. areas and departments. This diligent approach ensures that
viable resolutions are reached. In the case of Odisha, the
Furthermore, the Company encourages community members Company follows the guidelines of the Odisha Rehabilitation
to seek assistance or make inquiries by reaching out to the and Resettlement (R&R) Policy of 2006, which includes the
designated Head of Department (CSR) within the organization. constitution of Rehabilitation and Peripheral Development
Advisory Committees (RPDACs) and sub-committees
Regarding employment and compensation related to chaired by the District Collectors..
acquired land, the Company has established an ongoing
4. Percentage of input material (inputs to total inputs by value) sourced from suppliers:
FY2023 FY 2022
Directly sourced from MSMEs/small producers 16.69 13.71
Sourced directly from within the district and neighbouring districts* - -
*Sourced directly from within the district and neighbouring districts - CIL and its subsidiaries are in the process of capturing this data. CIL has obtained
relaxation for 25% (Twenty five percent) procurement targets from the Review Committee of Ministry of MSME for items beyond the scope / capacity of
MSEs. CIL has to achieve a target of minimum 35% procurement from MSEs for all non-exempted items from FY 2022-23 onwards. Accordingly the % of
procurement from MSEs for non-exempted items is 71.09% for FY 2023.
1. Provide details of actions taken to mitigate any negative social impacts identified in the Social Impact
Assessments (Reference: Question 1 of Essential Indicators above):
NIL
Details of negative social impact identified Corrective action taken
2. Provide the following information on CSR projects undertaken by the Company in the designated aspirational
districts as identified by government bodies:
Sl.
State Aspirational District Amount spent (In J)
No.
1. Chattisgarh & Jharkhand Narayanpur (Chattisgarh) 1559398.00
East Singhbhum, West Singhbhum &
Simdega (Jharkhand)
2. Jharkhand Khunti & Simdega 422856.00
3. Jharkhand Chatra & Latehar 4201855.00
4. Jharkhand Ranchi 10717400.00
*This information pertains to CIL (standalone). In addition, subsidiaries except WCL and CMPDI also spent their CSR funds in aspirational districts allotted
to them.
3. (a) Do you have a preferential procurement policy where you give preference to purchase from suppliers
comprising marginalized /vulnerable groups? (Yes/No)
(b) From which marginalized /vulnerable groups do you procure?
GoI has PPP - MSE 2012 Policy which stipulates 25% purchases from MSEs out of which 4% and 3% from SC/ST owned
and women entrepreneurs respectively. These may be Marginalized/Vulnerable groups.
(c) What percentage of total procurement (by value) does it constitute?
Description FY 2023 (In Rs. Cr.) FY 2022 (In Rs. Cr.)

Consolidated procurement Value of CIL & its subsidiaries 10,676.93 9400.68
Value of procurement from MSEs owned by SC/ST 8.04 8.17
% procurement from MSEs owned by SC/ST in the total procurement value. 0.075% 0.09%
Value of procurement from MSEs owned by women entrepreneurs 80.63 35.22
% procurement from MSEs owned by women entrepreneurs in total 0.75% 0.37%
procurement value
4. Details of the benefits derived and shared from the intellectual properties owned or acquired by your entity
(in the current financial year), based on traditional knowledge:
Sl. Intellectual Property based on Owned/ Acquired Benefit shared Basis of calculating
No. traditional knowledge (Yes/No) (Yes / No) benefit share
NA
NA
5. Details of corrective actions taken or underway, based on any adverse order in intellectual property related
disputes wherein usage of traditional knowledge is involved.
Name of authority Brief of the Case Corrective action taken

NA
NA
6. Details of beneficiaries of CSR Projects:
Sl. No. of persons benefitted % of beneficiaries from vulnerable

CSR Project
No. from CSR Projects and marginalised groups
1. Skill Development Training to 120 youth (female) 120 100
on General Duty Attendant (Nursing) - Advanced
course (BCCL)
2. Construction of water tank at the campus of 1000 100
Leprosy Centre at Govindpur Dhanbad (BCCL)
3. Infrastructural works at Lalmani Vriddh Seva 36 100
Ashraam, Dhanbad (BCCL)
4. Sports academy - Khelgaon at Ranchi, Jharkhand 437 96
(CCL)
5. Providing nutritional basket and support for well 1400 100
being of TB patients in Latehar and Chatra districts
(CCL)
6. Two years diploma in Ophthalmic Assistant course 20 100
(CMPDI)
7. Livelihood enhancement of Differently Abled 450 100
Persons by providing aids and appliances (CMPDI)
8. Small holder poultry project for tribal women (NCL) 750 100
9. Construction and operation of Divyang School cum 100 100
hostel in Singrauli (NCL)
10. Adoption of DDRC (District Divyang Rehabilitation 2000 100
Centre), Singrauli for providing aids & appliances to
Divyangs of Singrauli & Sonebhadra District (NCL)
11. Financial assistance to SHGs of villagers scattered 1300 100
in Buffer area of Pench Tiger Reserve,Maharashtra
for providing rice, flour and pulse mills which can
cater the needs of local surrounding as well as
create additional revenue of local livelihood (WCL)
12. Thalassemia Bal Sewa Yojana (CIL) 600 100
Note : In CSR projects, priority is given to vulnerable and marginalized groups such as Project Affected Persons, SC/ST, Women,
Senior Citizens, Differently Abled persons, Children, Economically Weaker Sections etc. Hence, majority of beneficiaries in all
these projects are people who are vulnerable/marginalized socially or economically.
002-115 116-332 333-513
Principle 9
Businesses should engage with and provide value to their consumers in a responsible manner
Essential indicators
1. Describe the mechanisms in place to receive and respond to consumer complaints and feedback.
The Company places significant importance on quality management and the prompt resolution of consumer complaints to
ensure consumer satisfaction. To achieve this, the company has implemented online filing and redressal mechanisms for
consumer complaints within CIL. By providing an online platform, the Company enables consumers to conveniently submit their
complaints and concerns, ensuring a streamlined and efficient process. The customers can report complaints through offline
mode as well. This approach allows for faster communication and resolution, reducing response time and enhancing customer
experience.
2. Turnover of products and/services as a percentage of turnover from all products/service that carry information
about:
As a percentage to total turnover

Environmental and social parameters relevant to the product Not applicable as coal is the primary product
Safe and responsible usage
Recycling and/or safe disposal
3. Number of consumer complaints in respect of the following:
FY2023 FY2022
Pending Pending
Received Received
Category resolution resolution
during Remarks during Remarks
at end of at end of
the year the year
year year
Data privacy - - - -
Advertising - - - -
Cyber- security 1 0 1 0 -
Delivery of essential - - - -
services
Delivery of essential - - - -
services
Restrictive Trade Practices 36 0 - 28 0 -
Unfair Trade Practices - - - -
Other (product related) - - - -
4. Details of instances of product recalls on account of safety issues:
Number Reasons for recall

Voluntary recalls NA NA
Forced recalls NA NA
5. Does the Company have a framework/policy on 6. Provide details of any corrective actions taken or
cyber security and risks related to data privacy? underway on issues relating to advertising, and
(Yes/No) If available, provide a web-link of the policy. delivery of essential services; cyber security and data
privacy of customers; re-occurrence of instances of
The Company has formed a dedicated risk management product recalls; penalty/action taken by regulatory
committee responsible for identifying internal and external authorities on safety of products/services.
risks, including those associated with cyber security and
data privacy. The committee consistently evaluates these NA
risks and engages in deliberations to develop suitable
mitigation strategies.
Leadership Indicators 3. Mechanisms in place to inform consumers of any

risk of disruption/discontinuation of essential
services.
1. Channels/platforms where information on
products and services of the Company can be 4. Does the entity display product information on
accessed (provide web-link, if available). the product over and above what is mandated
as per local laws? (Yes/No/Not Applicable) If yes,
Information on products and services of the Company can
provide details in brief. Did your entity carry out
be accessed on the Company’s website at https://www.
any survey with regard to consumer satisfaction
coalindia.in/
relating to the major products/services of the
The Company's presence can be found on several social entity, significant locations of operation of the
media platforms entity or the entity as whole? (Yes/ No)
The specifications of coal is mentioned in the invoice

Twitter https://twitter.com/CoalIndiaHQ
provided to the customer at the time of despatch.
Instagram https://www.instagram.com/coalindia.in/
Facebook https://www.facebook.com/coalindiaHQ Yes
Linkedin https://www.linkedin.com/company/
coalindialtd/ 5. Provide the following information relating to data
breaches:
2. Steps taken to inform and educate consumers
about safe and responsible usage of products a. Number of instances of data breaches, along
and/or services. with impact
The Company organises regular meetings to educate Nil

consumers about the safe and responsible usage of
its products and services. These meetings serve as b. Percentage of data breaches involving personally
platforms to provide valuable information and guidance identifiable information of customers
to consumers, ensuring they understand how to use the
Nil
company's offerings in a manner that prioritizes safety and
responsibility. By conducting these educational sessions,
the company aims to foster a culture of informed consumer
behavior and promote the optimal utilization of its products
and services.
STANDALONE
FINANCIAL
STATEMENTS
BALANCE SHEET - STANDALONE H in crore

As at As at
Notes
31-03-2023 31-03-2022
ASSETS
Non-Current Assets
(a) Property, Plant and Equipment 03 440.98 420.74
(b) Capital work in progress 04 108.73 53.02
(c) Exploration and Evaluation Assets 05 - 2.56
(d) Intangible Assets 6.1 112.76 2.14
(e) Intangible Assets under Development 6.2 - 105.14
(f) Financial Assets (i) Investments 07 13,824.44 13,157.90
(ii) Loans 08 0.02 0.03
(iii) Other Financial Assets 09 5,434.46 5,147.08
(g) Other Non-Current Assets 10 42.80 46.80
TOTAL NON-CURRENT ASSETS (A) 19,964.19 18,935.41
Current Assets
(a) Inventories 12 20.55 13.16
(b) Financial Assets (i) Investments 07 38.23 247.36
(ii) Trade Receivables 13 3.57 2.36
(iii) Cash and Cash equivalents 14 167.09 631.32
(iv) Other Bank Balances 15 1,007.80 158.15
(v) Other Financial Assets 09 972.70 1,032.88
(c) Current Tax Assets (Net) 861.50 1,081.90
(d) Other Current Assets 11 395.05 337.76
TOTAL CURRENT ASSETS (B) 3,466.49 3,504.89
TOTAL ASSETS (A+B) 23,430.68 22,440.30
Equity
(a) Equity Share Capital 16 6,162.73 6,162.73
(b) Other Equity 17 10,543.72 10,195.22
TOTAL EQUITY (A) 16,706.45 16,357.95
Liabilities
Non-Current Liabilities
(a) Financial Liabilities (i) Borrowings 18 - -
(ii) Other Financial Liabilities 20 41.42 55.77
(b) Provisions 21 197.21 226.22
(c) Deferred Tax Liabilities 29.94 24.52
(d) Other Non-Current Liabilities 22 5,772.86 5,402.48
TOTAL NON-CURRENT LIABILITIES (B) 6,041.43 5,708.99
Current Liabilities
(a) Financial Liabilities (i) Borrowings 18 - -
(ii) Trade Payables 19
(I) Total outstanding dues of 0.29 -
micro, small and medium
enterprises; and
(II) Total outstanding dues 64.91 70.63
of Creditors other than
enterprises
(iii) Other Financial Liabilities 20 273.12 106.83
(b) Other Current Liabilities 23 189.76 102.25
(c) Provisions 21 154.72 93.65
TOTAL CURRENT LIABILITIES (C) 682.80 373.36
TOTAL EQUITY AND LIABILITIES (A+B+C) 23,430.68 22,440.30
The Accompanying Note No. 1 to 38 form an integral part of the Standalone Financial Statements.
As per our report annexed On behalf of the Board

For Lodha & Co
Firm Registration No. 301051E
Sd/- Sd/- Sd/-

R. P. Singh (Pramod Agrawal) (Debasish Nanda)
Partner Chairman-Cum-Managing Director & Director (Business Development/Finance)
Membership No. 052438 CEO
DIN- 00279727 DIN- 09015566
Sd/- Sd/-
Date : 07th May, 2023 (Sunil Kumar Mehta) (B. P. Dubey)
Place : Shillong Executive Director (Finance) / CFO Company Secretary
002-115 116-332 333-513
STATEMENT OF PROFIT AND LOSS - STANDALONE H in crore

For the Year For the Year Ended
Notes
Ended 31-03-2023 31-03-2022
Revenue from Operations (Net of levies)
A Sales 659.27 0.84
24
B Other Operating Revenue 1291.24 1131.08
(I) Revenue from Operations (Net of levies) (A+B) 1950.51 1131.92
(II) Other Income 25 14552.63 10935.62
(III) Total Income (I+II) 16,503.14 12,067.54
Expenses
Cost of Materials Consumed 26 4.87 1.19
Purchase of Stock-in-Trade 469.74 -
Changes in inventories of finished goods, Stock-in-Trade and work-in- 27 (7.32) (11.99)
progress
Employee Benefits Expense 28 421.48 438.84
Power Expense 7.40 8.42
Corporate Social Responsibility Expense 29 128.93 77.64
Repairs 30 17.94 18.14
Contractual Expense 31 47.29 7.64
Finance Costs 32 1.92 1.50
Depreciation, Amortization and Impairment Expenses 35.2 42.94 20.83
Provisions 33 1.43 -
Write off 34 - 0.03
Other Expenses 35.1 273.01 148.46
(IV) Total Expense 1,409.63 710.70
(V) Profit before Tax (III-IV) 15,093.51 11,356.84
(VI) Tax Expense 36
Current Tax 285.78 158.31
Deferred Tax 5.42 (3.04)
Total Tax expenses 291.20 155.27
(VII) Profit for the year (V-VI) 14,802.31 11,201.57
(VIII) Other Comprehensive Income
(i) Items that will not be reclassified to profit or loss 37 (167.60) 60.23
(ii) Income tax relating to items that will not be reclassified to profit or 42.18 (15.16)
loss
Total Other Comprehensive Income (125.42) 45.07
(IX) Total Comprehensive Income (VII+VIII) (Comprising Profit and Other 14,676.89 11,246.64
Comprehensive Income for the year)
(X) Earnings per equity share (Face Value J 10 each)
(1) Basic 24.02 18.18
(2) Diluted 24.02 18.18
Refer note 38 (7) (c) for calculation of EPS

For Lodha & Co
Sd/- Sd/- Sd/-

DIN- 00279727 DIN- 09015566
Sd/- Sd/-
STATEMENT OF CHANGES IN EQUITY

A. EQUITY SHARE CAPITAL
As at 31-03-2023
H in crore
Changes in
equity share Balance as at
Balance as at
Particulars capital during As at 31-03-
01-04-2022
the current 2023
period
6,16,27,28,327 Equity Shares of H10/- each 6162.73 - 6162.73
As at 31-03-2022
H in crore
Changes in
equity share Balance as at
Balance as at
Particulars capital during As at 31-03-
01-04-2021
the current 2022
period
6,16,27,28,327 Equity Shares of H10/- each 6,162.73 - 6,162.73
B. OTHER EQUITY
H in crore
Reserves and Surplus
Remeasurement
Capital of Defined
Particulars General Retained Total
Redemption Benefits Plans
Reserve Earnings
reserve (net of Tax) -
(OCI)
Balance as at 01-04-2022 1,057.81 4,276.95 4,841.93 18.53 10,195.22
Total Comprehensive Income for the year - - 14,802.31 (125.42) 14,676.89
Interim Dividend - - (12479.57) - (12479.57)
Final Dividend - - (1848.82) - (1848.82)
Transfer to/from General Reserve - 26.80 (26.80) - 0.00
Balance as at 31-03-2023 1,057.81 4,303.76 5,289.05 (106.89) 10,543.72
002-115 116-332 333-513
STATEMENT OF CHANGES IN EQUITY

B. OTHER EQUITY (Contd..)
H in crore
Remeasurement
Capital of Defined
Particulars General Retained Total
Redemption Benefits Plans
Reserve Earnings
reserve (net of Tax) -
(OCI)
Balance as at 01-04-2021 1,057.81 4,257.61 5,300.10 (26.54) 10,588.98
Total Comprehensive Income for the year - - 11,201.57 45.07 11,246.64
Interim Dividend - - (8627.82) - (8627.82)
Final Dividend - - (2156.97) - (2156.97)
Transfer to/from General Reserve - 19.34 (19.34) - -
Adjustment during the year - - (855.61) - (855.61)
Balance as at 31-03-2022 1,057.81 4,276.95 4,841.93 18.53 10,195.22
Refer Note 17 for dividend and the nature and purpose of Reserves and Surplus.

For Lodha & Co
Sd/- Sd/- Sd/-

DIN- 00279727 DIN- 09015566
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STATEMENT OF CASH FLOW - STANDALONE

H in crore
For the Year For the Year
Ended 31-03-2023 Ended 31-03-2022
Cash flows from operating activities
Profit before tax 15093.51 11356.84
Adjustments for :
Depreciation, amortisation and impairment expenses 42.94 20.83
Income from investment (144.62) (37.08)
Dividend income (14265.71) (10701.58)
Fair Value Change 0.50 (113.11)
Finance Costs 1.92 1.50
Loss on sale of Property, Plant and Equipment 0.18 8.09
Liability/Provision written back (net) (0.25) (52.42)
Write off - 0.03
Allowance for trade Receivables and Advances 1.43 -
Operating Profit before changes in working capital 729.90 483.10
Adjustment for :
Trade Receivables (1.21) 9.63
Inventories (7.39) (12.16)
Loans and Advances and other assets 46.04 1,620.50
Financial and Other Liabilities 472.30 538.58
Trade Payables (5.43) (30.96)
Cash Generated from Operation 1,234.21 2,608.69
Income Tax (Paid) (23.20) (378.69)
Net Cash Flow from Operating Activities (A) 1,211.01 2,230.00
CASH FLOW FROM INVESTING ACTIVITIES
Purchase of Property, Plant and Equipment (119.66) (186.48)
Proceeds from Sale of Property Plant and Equipment 0.24 0.02
Proceeds/(Investment) in Bank Deposit (1136.74) (655.77)
Proceeds/(Investment) in Mutual Fund 222.55 (163.61)
Proceeds/(Investment) in subsidiaries - (0.62)
Payment for investment in equity in Joint Venture (666.54) (767.65)
Interest from Investment received 87.27 25.06
Dividend received from Subsidiaries 14265.71 10,701.58
Net Cash from Investing Activities (B) 12652.83 8,952.53
CASH FLOW FROM FINANCING ACTIVITIES
Dividend paid on Equity shares (14328.07) (10783.37)
Net Cash used in Financing Activities (C) (14328.07) (10783.37)
Net Increase / (Decrease) in Cash and Cash equivalent (A+B+C) (464.23) 399.16
Cash and Cash equivalent as at the beginning of the year 631.32 232.16
Cash and Cash equivalent as at the end of the year (Refer Note 14) 167.09 631.32
002-115 116-332 333-513
STATEMENT OF CASH FLOW - STANDALONE

Components of Cash and Cash Equivalents
H in crore
Ended 31-03-2023 Ended 31-03-2022
Balance with Bank
- in Deposit Accounts 142.50 462.84
- interest bearing (CLTD A/c Etc.) 11.00 3.98
- Non- interest bearing 2.07 2.50
- in Cash Credit Accounts 0.69 0.96
ICDs with Primary Dealers - 159.78
Others e-procurement account/GeM account/Imprest balances 10.83 1.26
Total 167.09 631.32
1. The above Statement of cash flows is prepared in accordance with the indirect method prescribed in Ind AS 7 - ‘Statement of
Cash Flows’.
2. The Company has spent H42.04 crore (Refer note no. 29) on account of Corporate Social Responsibility (CSR) Expenditure
during the year ended 31-03-2023( Previous Year H 77.64 crore)
3. There is no undrawn borrowing facilities that may be available for future operating activities and to settle capital commitments,
indicating any restrictions on the use of these facilities.

For Lodha & Co
Sd/- Sd/- Sd/-

DIN- 00279727 DIN- 09015566
Sd/- Sd/-
NOTES TO THE FINANCIAL STATEMENTS (STANDALONE)

Note: 1 ii) Application of new and revised standards:
A. CORPORATE INFORMATION Effective April 01, 2022, the company has adopted
the amendments vide Companies (Indian Accounting
Coal India Limited (CIL) (the “Company”) is a Maharatna Standard) Amendment Rules, 2022 notifying
Company domiciled in India and limited by shares. The amendment to existing Ind AS. These amendments to
shares of the Company are listed and traded on the National the extent relevant to the Company’s operation were
Stock Exchange of India Limited (NSE) and Bombay Stock relating to Ind AS 16 “Property, Plant and Equipment”
Exchange India Limited (BSE) in India. The address of the which clarifies that excess of net sale proceeds of
Company’s registered office is Coal Bhawan, Premises items produced over the cost of testing, if any, shall
No. 04 MAR, Plot No. -AF-III, Action Area-1A, New Town, not be recognised in the profit or loss but deducted
Rajarhat, Kolkata- 700 156. from the directly attributable costs considered as part
of cost of an item of property, plant, and equipment
The company is primarily involved in the mining and
and Ind AS 37 “Provisions, Contingent Liabilities and
production of Coal. The major consumers of the company
Contingent Assets” which specifies that the ‘cost of
are the power and steel sectors. Consumers from other
fulfilling’ a contract comprises the ‘costs that relate
sectors include cement, fertilizers, brick kilns, etc.
directly to the contract’. Costs that relate directly to a
Coal India Limited has ten wholly-owned subsidiaries and contract can either be incremental costs of fulfilling that
seven number of step-down subsidiaries in India out of contract (examples would be direct labour, materials)
which seven subsidiaries are coal producing, one subsidiary or an allocation of other costs that relate directly to
is engaged in mine planning, designing, and related fulfilling contracts (an example would be the allocation
consultancy services and two subsidiaries are engaged in of the depreciation charge for an item of property, plant
manufacturing solar value chain (ingot-wafer-cell module) and equipment used in fulfilling the contract).
and renewable energy business. CIL also has a fully owned
There were other amendments in various standards
mining company in Mozambique known as ‘Coal India
including Ind AS 101 “First-time Adoption of Indian
Africana Limitada’ which is yet to commence operations.
Accounting Standards”, Ind AS 103 “Business
The Company is also engaged in certain ventures through
Combinations”, Ind AS 109 “Financial Instruments”, and
Joint Venture arrangements.
Ind AS 41 “Agriculture” which have not been listed herein
The Standalone financial statements for the year ended above since these are not relevant to the Company.
March 31, 2023, were approved for issue by the Board of
Revision in these standards did not have any material
Directors of the company on May 07, 2023.
impact on the profit/loss and earning per share for the year.
B. Statement of Compliance and Recent Accounting
iii) Recent accounting pronouncements
Pronouncements
On March 31, 2023, Ministry of Corporate Affairs (MCA)
i) Statement of Compliance
has made certain amendments to existing Ind AS vide
These standalone financial statements have been Companies (Indian Accounting Standard) Amendment
prepared in accordance with the Indian Accounting Rules, 2023. These amendments to the extent relevant
Standards (hereinafter referred to as the “Ind AS”) to the Company’s operation include amendment
as notified under the Companies (Indian Accounting to Ind AS 1 “Presentation of Financial Statements”
Standards) Rules, 2015 (as amended) read with which requires the entities to disclose their material
Section 133 of the Companies Act, 2013 (“the Act”). accounting policies rather than their significant
The Ind ASs issued, notified and made effective till accounting policies, Ind AS 8 “Accounting Policies,
the financial statements are authorized and have been Changes in Accounting Estimates and Errors” which
considered for the purpose of preparation of these has introduced a definition of ‘accounting estimates’
financial statements. and include amendments to help entities distinguish
changes in accounting policies from changes
The accounting policies are applied consistently in accounting estimates . Further consequential
except where a newly issued accounting standard is amendments with respect to the concept of material
initially adopted or a revision to an existing accounting accounting policies have also been made in “, Ind AS
standard requires a change in the accounting policy 107 “Financial Instruments: Disclosures” and Ind AS
hitherto in use. 34 “Interim Financial Reporting”.
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There are other amendments in various standards A liability is treated as current by the Company when:
including Ind AS 101 “First-time Adoption of Indian
Accounting Standards”, Ind AS 103 “Business (a) it expects to settle the liability in its normal operating
Combinations, Ind AS 109 “Financial Instruments “ Ind cycle;
AS 115 “Revenue from Contracts with Customers”,
(b) it holds the liability primarily for the purpose of trading;
Ind AS 12 “Income Taxes” which has narrowed the
scope of the initial recognition exemption so that it does (c) the liability is due to be settled within twelve months
not apply to transactions that give rise to equal and after the reporting period; or
offsetting temporary differences and Ind AS 102 “Share-
based Payment” which have not been listed herein (d) it does not have an unconditional right to defer
above since these are not relevant to the Company. settlement of the liability for at least twelve months
after the reporting period. Terms of a liability that
Even though the Company will evaluate the impact of could, at the option of the counterparty, result in its
above, none of these amendments as such are vital in settlement by the issue of equity instruments do not
nature and are not likely to have material impact on the affect its classification.
financial statements of the Company.
All other liabilities are classified as non-current.
Note 2: SIGNIFICANT ACCOUNTING POLICIES Having regard to the nature of the business being carried
out by the company, the company has ascertained its
2.1 Basis of preparation of financial statements
operating cycle as twelve months for the purpose of current
The Standalone Financial Statements have been prepared and non-current classification of assets and liabilities.
under the historical cost convention on accrual basis
2.3 Revenue recognition
except certain financial instruments that are measured in
terms of relevant Ind AS at amortized costs or fair value at Revenue from contracts with customers
the end of each reporting period.
Revenue from contracts with customers is recognized when
Historical cost convention is generally based on the fair value of control of the goods or services are transferred and/or
the consideration given in exchange for goods and services. products/services are delivered/ provided to the customers
at an amount that reflects the consideration to which the
The functional currency of the company is determined
Company expects to be entitled in exchange for those
as the currency of the primary economic environment in
goods or services. The Company has generally concluded
which it operates. The Standalone Financial Statements are
that it is the principal in its revenue arrangements because it
presented in Indian Rupees and all values are rounded off
typically controls the goods or services before transferring
to the ‘rupees in crore’ up to two decimal points.
them to the customer.
2.2 Current and Non-Current Classification
Revenue is measured based on the considerations
The Company presents assets and liabilities in the Balance specified in a contract with a customer and excludes
Sheet based on current/ non-current classification. An amounts collected on behalf of third parties. The revenue
asset is treated as current by the Company when: from sales is recognised when control over a product or
service has been transferred and /or products/services are
(a) it expects to realise the asset, or intends to sell or delivered/provided to the customers. The delivery occurs
consume it, in its normal operating cycle; when the product has been shipped or delivered to the
specific location as the case may be and the customer has
(b) it holds the asset primarily for the purpose of trading; either accepted the products in accordance with contract
or the company has sufficient evidence that all the criteria
(c) it expects to realise the asset within twelve months
for acceptance has been satisfied. Returns, discounts and
after the reporting period; or
rebates collected, if any, are deducted there from sales.
(d) the asset is cash or a cash equivalent (as defined in
The principles in Ind AS 115 are applied using the following
Ind AS 7) unless the asset is restricted from being
five steps:
exchanged or used to settle a liability for at least twelve
months after the reporting period. All other assets are
classified as non-current.

Step 1: Identifying the contract: selling prices of the additional promised goods or
services and any appropriate adjustments to that price
The Company account for a contract with a customer only depending upon the circumstances of the particular
when all of the following criteria are met: contract.
a) the parties to the contract have approved the contract Step 2 : Identifying performance obligations:
and are committed to perform their respective
obligations; At contract inception, the Company assesses obligation
towards the goods or services promised in a contract with
b) the Company can identify each party’s rights regarding a customer and identify as a performance obligation each
the goods or services to be transferred; promise to transfer to the customer either:
c) the Company can identify the payment terms for the a) a good or service (or a bundle of goods or services)
goods or services to be transferred; that is distinct; or
d) the contract has commercial substance (i.e. the risk, b) a series of distinct goods or services that are
timing or amount of the Company’s future cash flows substantially the same and that have the same pattern
is expected to change as a result of the contract); and of transfer to the customer.
e) it is probable that the Company will collect the Step 3: Determining the transaction price
consideration arising in exchange for the goods or
services that will be transferred to the customer. The The Company consider the terms of the contract and its
amount of consideration to which the Company will customary business practices to determine the transaction
be entitled may be less than the price stated in the price. The transaction price is the amount of consideration
contract if the consideration is variable because the to which the Company expects to be entitled in exchange
Company may offer the customer a price concession, for transferring promised goods or services to a customer,
discount, rebates, refunds, credits or be incentives, excluding amounts collected on behalf of third parties. The
performance bonuses, or similar items. consideration promised in a contract with a customer may
include fixed amounts, variable amounts, or both.
Combination of contracts
When determining the transaction price, a Company
The Company combines two or more contracts entered into consider the effects of all of the following:
at or near the same time with the same customer (or related
parties of the customer) and accounts for the contracts as a - Variable consideration;
single contract if one or more of the following criteria are met:
- Constraining estimates of variable consideration;
a) the contracts are negotiated as a package with a single - The existence of significant financing component;
commercial objective;
- Non – cash consideration;
b) the amount of consideration to be paid in one contract
- Consideration payable to a customer.
depends on the price or performance of the other
contract; or An amount of consideration can vary because of discounts,
rebates, refunds, credits, price concessions, incentives,
c) the goods or services promised in the contracts
performance bonuses, or other similar items. The promised
(or some goods or services promised in each of the
consideration can also vary if the Company’s entitlement to
contracts) are relatable to a single performance
the consideration is contingent on the occurrence or non-
obligation.
occurrence of a future event.
Contract modification
In some contracts, penalties are specified. In such cases,
The Company accounts for a contract modification as a penalties are accounted for as per the substance of the
separate contract if both of the following conditions are contract. Where the penalty is inherent in determination of
present: transaction price, it forms part of variable consideration.
a) the scope of the contract increases because of the The Company includes in the transaction price some or
addition of promised goods or services that are distinct all of an amount of estimated variable consideration only
and to the extent that it is highly probable that a significant
reversal in the amount of cumulative revenue recognized
b) the price of the contract increases by an amount of will not occur when the uncertainty associated with the
consideration that reflects the Company’s stand-alone variable consideration is subsequently resolved.
002-115 116-332 333-513

The Company does not adjust the promised amount of c) the Company’s performance does not create an
consideration for the effects of a significant financing asset with an alternative use to the Company and the
component if it expects, at contract inception, that the Company has an enforceable right to payment for
period between when it transfers a promised goods or performance completed to date.
service to a customer and when the customer pays for that
good or service will be one year or less. For each performance obligation satisfied over time, the
Company recognizes revenue over time by measuring the
The Company recognizes a refund liability if the Company progress towards complete satisfaction of that performance
receives consideration from a customer and expects to obligation.
refund some or all of that consideration to the customer. A
The Company applies a single method of measuring
refund liability is measured at the amount of consideration
progress for each performance obligation satisfied over
received (or receivable) for which the Company does not
time and the Company applies that method consistently
expect to be entitled (i.e. amounts not included in the
to similar performance obligations and in similar
transaction price). The refund liability (and corresponding
circumstances. At the end of each reporting period, the
change in the transaction price and, therefore, the contract
Company re-measure its progress towards complete
liability) is updated at the end of each reporting period for
satisfaction of a performance obligation satisfied over time.
changes in circumstances.
Company applies output methods to recognize revenue
After the contract inception, the transaction price can change
on the basis of direct measurements of the value to the
for various reasons, including the resolution of uncertain
customer of the goods or services transferred to date
events or other changes in circumstances that change the
relative to the remaining goods or services promised under
amount of consideration to which the Company expects to
the contract. Output methods include methods such as
be entitled in exchange for the promised goods or services.
surveys of performance completed to date, appraisals of
Step 4: Allocating the transaction price: results achieved, milestones reached, time elapsed and
units produced or units delivered.
The transaction price is allocated to each performance
obligation (or distinct good or service) equivalent to an As circumstances change over time, the Company updates
amount that depicts the amount of consideration to which the its measure of progress to reflect any changes in the
company expects to be entitled in exchange for transferring outcome of the performance obligation. Such changes to
the promised goods or services to the customer. the Company’s measure of progress is accounted for as a
change in accounting estimate in accordance with Ind AS
In order to allocate the transaction price to each 8, Accounting Policies, Changes in Accounting Estimates
performance obligation on a relative stand-alone selling and Errors.
price basis, the stand-alone selling price at contract
inception is allocated to the distinct good or service The Company recognizes revenue for a performance
underlying each performance obligation in the contract and obligation satisfied over time only if the Company can
the transaction price is determined in proportion to those reasonably measure its progress towards complete
stand-alone selling prices. satisfaction of the performance obligation. When (or
as) a performance obligation is satisfied, the Company
Step 5: Recognizing revenue:
recognizes as revenue the amount of the transaction price
The Company recognizes revenue when (or as) the (which excludes estimates of variable consideration that are
Company satisfies a performance obligation by transferring constrained) that is allocated to that performance obligation.
a promised good or service to a customer. A good or
If a performance obligation is not satisfied over time, the
service is transferred when (or as) the customer obtains
Company satisfies the performance obligation at a point
control of that good or service.
in time. To determine the point in time at which a customer
The Company transfers control of a good or service over obtains control of a promised good or service and the
time and, therefore, satisfies a performance obligation and Company satisfies a performance obligation, the Company
recognizes revenue over time, if one of the following criteria considers indicators of the transfer of control, which
is met: include, but are not limited to, the following:
a) the customer simultaneously receives and consumes a) the Company has a present right to payment for the
the benefits provided by the Company’s performance good or service;
as the Company performs;
b) the customer has legal title to the good or service;
b) the Company’s performance creates or enhances an
c) the Company has transferred physical possession of
asset that the customer controls as the asset is created
the good or service;
or enhanced;

d) the customer has the significant risks and rewards of 2.4 Grants from Government
ownership of the good or service;
Government Grants are not recognised until there is
e) the customer has accepted the good or service. reasonable assurance that the Company will comply with
the conditions attached to them and that there is reasonable
When either party to a contract has performed, the Company
certainty that grants will be received.
present the contract in the balance sheet as a contract
asset or a contract liability, depending on the relationship Government grants are recognised in Statement of Profit
between the Company’s performance and the customer’s and Loss on a systematic basis over the periods in which
payment. The Company presents any unconditional rights the Company recognises the related expenses or costs for
to consideration separately as a receivable. which the grants are intended to compensate.
Contract assets: Government Grants related to assets are presented in the

balance sheet by setting up the grant as deferred income
A contract asset is the right to consideration in exchange
and are recognised in Statement of Profit and Loss on
for goods or services transferred to the customer. If the
systematic basis over the useful life of asset.
Company performs by transferring goods or services to
a customer before the customer pays consideration or Grants related to income (i.e. grant related to other than
before payment is due, a contract asset is recognized for assets) are presented as part of statement of profit and loss
the earned consideration. under the head ‘Other Income’.
Trade receivables: A government grant/assistance that becomes receivable

as compensation for expenses or losses already incurred
A receivable represents the Company’s right to an amount of
or for the purpose of giving immediate financial support to
consideration that is unconditional (i.e., only the passage of
the Company with no future related costs, is recognised in
time is required before payment of the consideration is due).
profit or loss of the period in which it becomes receivable.
Contract liabilities:
The Government grants or grants in the nature of promoter’s
A contract liability is the obligation to transfer goods or contribution is recognised directly in “Capital Reserve”
services to a customer for which the Company has received which forms part of the “Shareholders fund”.
consideration (or an amount of consideration is due) from
the customer. If a customer pays consideration before the 2.5 Leases
Company transfers goods or services to the customer, a
A contract is, or contains, a lease if the contract conveys
contract liability is recognized when the payment is made or
the right to control the use of an identified asset for a period
due (whichever is earlier). Contract liabilities are recognized
of time in exchange for consideration.
as revenue when the Company fulfils the obligations.
2.5.1 Company as a lessee
Interest
The Company assesses whether a contract contains
Interest income from a financial asset is recognized when
a lease, at inception of a contract. A contract is, or
it is probable that the economic benefits will flow to the
contains, a lease if the contract conveys the right to
Company and the amount of income can be measured
control the use of an identified asset for a period of
reliably. Interest income is accrued on a time basis, by
time in exchange for consideration. To assess whether
reference to the principal outstanding and at the effective
a contract conveys the right to control the use of an
interest rate applicable, which is the rate that exactly
identified asset, the Company assesses whether:
discounts the estimated future cash receipts through
the expected life of the financial asset to that asset’s net (i) the contract involves the use of an identified asset
carrying amount on initial recognition.
(ii) the Company has substantially all of the economic
Dividend benefits from use of the asset through the period
of the lease and
Dividend income from investments is recognised when the
rights to receive payment is established. (iii) the Company has the right to direct the use of the
asset.
Other Claims
At the commencement date, a lessee shall recognise
Revenue in respect of Other claims (including interest
a right-of-use asset at cost and a lease liability at the
on delayed realization from customers) are recognized
present value of the lease payments that are not paid
only when there is reasonable certainty as to the ultimate
at that date for all leases unless the lease term is 12
collection and the amount can be measured reliably.
months or less or the underlying asset is of low value.
002-115 116-332 333-513

Subsequently, right-of-use asset is measured using 2.6 Non-current assets held for sale
cost model whereas, the lease liability is measured
by increasing the carrying amount to reflect interest The Company classifies non-current assets and (or disposal
on the lease liability, reducing the carrying amount to groups) as held for sale if their carrying amounts will be
reflect the lease payments made and re-measuring the recovered principally through a sale rather than through
carrying amount to reflect any reassessment or lease continuing use. Actions required to complete the sale
modifications should indicate that it is unlikely that significant changes
to the sale will be made or that the decision to sell will be
The lease liability is initially measured at amortized withdrawn. Management must be committed to the sale
cost at the present value of the future lease payments. expected to be completed within one year from the date of
The lease payments are discounted using the interest classification.
rate implicit in the lease or, if not readily determinable,
using the incremental borrowing rates of these leases. For these purposes, sale transactions include exchanges of
Lease liabilities are premeasured with a corresponding non-current assets for other non-current assets when the
adjustment to the related right of use asset if the exchange has commercial substance. The criteria for held
Company changes its assessment if whether it will for sale classification is regarded met only when the assets
exercise an extension or a termination option. Lease or disposal group is available for immediate sale in its
liability and ROU asset are separately presented in present condition, subject only to terms that are usual and
the Balance Sheet and lease payments are classified customary for sales of such assets (or disposal groups),
as financing cash flows. Lease liability obligations its sale is highly probable; and it will genuinely be sold,
is presented separately under the head “Financial not abandoned. The Company treats sale of the asset or
Liabilities”. disposal group to be highly probable when:
Finance charges are recognised in finance costs in • The appropriate level of management is committed to
the Statement of Profit and Loss, unless the costs a plan to sell the asset (or disposal group),
are included in the carrying amount of another asset
• An active programme to locate a buyer and complete
applying other applicable standards.
the plan has been initiated
Right-of-use asset is depreciated over the useful life
• The asset (or disposal group) is being actively marketed
of the asset, if the lease transfers ownership of the
for sale at a price that is reasonable in relation to its
asset to the lessee by the end of the lease term or
current fair value,
if the cost of the right-to-use asset reflects that the
lessee will exercise a purchase option. Otherwise, the • The sale is expected to qualify for recognition as
lessee shall depreciate the right-to-use asset from the a completed sale within one year from the date of
commencement date to the earlier of the end of the classification, and
useful life of the right-of-use asset or the end of the
lease term. • Actions required to complete the plan indicate that it
is unlikely that significant changes to the plan will be
2.5.2 Company as a lessor made or that the plan will be withdrawn.
Assets are given on lease either as finance lease or Non-current asset or disposal groups classified as held for
operating lease. sale are measured at the lower of carrying amount and fair
value less costs to sell.
Finance Lease: A lease is classified as finance lease
if it transfers substantially all the risks and rewards 2.7 Property, Plant and Equipment (PPE)
incidental to ownership of an underlying asset. Initially,
asset held under finance lease is recognised in Balance An item of PPE is recognized as an asset if it is probable
Sheet and presented as a receivable at an amount that future economic benefits associated with the item
equal to the net investment in the lease. Finance will flow to the Company and the cost of the item can be
income is recognised over the lease term, based on a measured reliably.
pattern reflecting a constant periodic rate of return on
PPE are initially measured at cost of acquisition/
Company’s net investment in the lease.
construction including decommissioning or restoration
Operating Lease: A lease which is not classified as cost wherever required. Cost of land includes expenditures
a finance lease is an operating lease. The Company which are directly attributable to the acquisition of the
recognises lease payments in case of assets given on land like, rehabilitation expenses, resettlement cost and
operating leases as income on a straight line basis. compensation in lieu of employment incurred for concerned
displaced persons etc.

After recognition, an item of all other Property, plant and expected from the continuing use of assets. Any gain or
equipment are carried at its cost less any accumulated loss arising on such derecognition of an item of property
depreciation and any accumulated impairment losses plant and equipment is recognised in profit and Loss.
under Cost Model. The cost of an item of property, plant
and equipment comprises: Depreciation on property, plant and equipment, except
freehold land, is provided as per cost model on straight line
(a) its purchase price, including import duties and non- basis over the estimated useful lives of the asset as follows:
refundable purchase taxes, after deducting trade
discounts and rebates. Other Land
(incl. Leasehold Land) : Life of the project or lease
(b) any costs directly attributable to bringing the asset term whichever is lower
to the location and condition necessary for it to be Building : 3-60 years
capable of operating in the manner intended by Roads : 3-10 years
Telecommunication : 3-9 years
management.
Railway Sidings : 15 years
(c) the initial estimate of the costs of dismantling and Plant and Equipment : 5-30 years
removing the item and restoring the site on which it is Computers and Laptops : 3 Years
Office equipment : 3-6 years
located, the obligation for which the Company incurs
Furniture and Fixtures : 10 years
either when the item is acquired or as a consequence
Vehicles : 8-10 years
of having used the item during a particular period for
purposes other than to produce inventories during that Based on technical evaluation, the management believes
period. that the useful lives given above best represent the period
over which the management expects to use the asset.
(d) Interest on Borrowings utilized to finance the
Hence the useful lives of the assets may be different from
construction of qualifying assets are capitalised as
the useful lives as prescribed under Part C of Schedule II of
part of cost of the asset until such time that the asset
the companies act, 2013.
is ready for its intended use.
The estimated useful life of the assets is reviewed at the
Each part of an item of property, plant and equipment
end of each financial year.
with a cost that is significant in relation to the total cost
of the item is depreciated separately. However, significant The residual value of Property, plant and equipment is
part(s) of an item of PPE having same useful life and considered as 5% of the original cost of the asset except
depreciation method are grouped together in determining for some items of assets such as Coal tub, winding ropes,
the depreciation charge. haulage ropes, stowing pipes & safety lamps etc. for which
the useful life has been technically estimated to be one year
Costs of the day to-day servicing described as ‘repairs and
with nil residual value.
maintenance’ are recognised in the statement of profit and
loss in the period in which the same are incurred. Depreciation on the assets added/disposed of during the
year is provided on pro-rata basis with reference to the
Subsequent cost of replacing parts which are significant in
month of addition / disposal.
relation to the total cost of an item of property, plant and
equipment are recognised in the carrying amount of the item, Value of “Other Land” includes land acquired under Coal
if it is probable that future economic benefits associated with Bearing Area (Acquisition & Development) (CBA) Act, 1957,
the item will flow to the Company; and the cost of the item Land Acquisition Act, 1894, Right to Fair Compensation
can be measured reliably. The carrying amount of those and Transparency in Land Acquisition, Rehabilitation and
parts that are replaced is derecognised in accordance with Resettlement (RFCTLAAR) Act, 2013, Long term transfer of
the derecognition policy mentioned below. government land etc., which are amortised on the basis of
the balance life of the project; and in case of Leasehold
When major inspection is performed, its cost is recognised
land such amortisation is based on lease period or balance
in the carrying amount of the item of property, plant and
life of the project whichever is lower.
equipment as a replacement if it is probable that future
economic benefits associated with the item will flow to Assets that are fully depreciated and retired from active
the Company; and the cost of the item can be measured use are disclosed separately as surveyed off assets at its
reliably. Any remaining carrying amount of the cost of the residual value under Property, Plant Equipment and are
previous inspection (as distinct from physical parts) is tested for impairment.
derecognised.
Capital Expenses incurred by the Company on
An item of Property, plant or equipment is derecognised construction/development of certain assets which are
upon disposal or when no future economic benefits are essential for production, supply of goods or for the access
002-115 116-332 333-513

to any existing Assets of the Company are recognised as • acquisition of rights to explore
Enabling Assets under Property, Plant and Equipment.
• researching and analysing historical exploration data;
Transition to Ind AS • gathering exploration data through topographical, geo
chemical and geo physical studies;
The Company elected to continue with the carrying value as
per cost model (for all of its property, plant and equipment) • exploratory drilling, trenching and sampling;
as recognised in the financial statements as at the date of
• determining and examining the volume and grade of
transition to Ind ASs, measured as per the previous GAAP.
the resource;
2.8 Mine Closure, Site Restoration and Decommissioning • surveying transportation and infrastructure requirements;
Obligation
• Conducting market and finance studies.
The Company’s obligation for land reclamation and
decommissioning of structures consists of spending The above includes employee remuneration, cost of
at both surface and underground mines in accordance materials and fuel used, payments to contractors etc.
with the guidelines from Ministry of Coal, Government
As the intangible component represents an insignificant/
of India. The Company estimates its obligation for Mine
indistinguishable portion of the overall expected tangible
Closure, Site Restoration and Decommissioning based
costs to be incurred and recouped from future exploitation,
upon detailed calculation and technical assessment of the
these costs along with other capitalised exploration costs
amount and timing of the future cash spending to perform
are recorded as exploration and evaluation asset.
the required work. Mine Closure expenditure is provided
as per approved Mine Closure Plan. The estimates of Exploration and evaluation costs are capitalised on a
expenses are escalated for inflation, and then discounted at project by project basis pending determination of technical
a discount rate that reflects current market assessment of feasibility and commercial viability of the project and
the time value of money and the risks, such that the amount disclosed as a separate line item under non-current assets.
of provision reflects the present value of the expenditures They are subsequently measured at cost less accumulated
expected to be incurred to settle the obligation. The impairment/provision.
Company records a corresponding asset associated
with the liability for final reclamation and mine closure. Once proved reserves are determined and development
The obligation and corresponding assets are recognised of mines/project is sanctioned, exploration and evaluation
in the period in which the liability is incurred. The asset assets are transferred to “Development” under capital work
representing the total site restoration cost (as estimated by in progress. However, if proved reserves are not determined,
Central Mine Planning and Design Institute Limited) as per the exploration and evaluation asset is derecognised.
mine closure plan is recognised as a separate item in PPE
2.10 Development Expenditure
and amortised over the balance project/mine life.
When proved reserves are determined and development
The value of the provision is progressively increased over
of mines/project is sanctioned, capitalised exploration
time as the effect of discounting unwinds; creating an
and evaluation cost is recognised as assets under
expense recognised as financial expenses.
construction and disclosed as a component of capital work
Further, a specific escrow fund account is maintained for in progress under the head “Development”. All subsequent
this purpose as per the approved mine closure plan. development expenditure is also capitalised. The
development expenditure capitalised is net of proceeds
The progressive mine closure expenses incurred on year to from the sale of coal extracted during the development
year basis forming part of the total mine closure obligation phase.
is initially recognised as receivable from escrow account
and thereafter adjusted with the obligation in the year in Commercial Operation
which the amount is withdrawn after the concurrence of the
The project/mines are brought to revenue; when
certifying agency.
commercial readiness of a project/mine to yield production
2.9 Exploration and Evaluation Assets on a sustainable basis is established either on the basis of
conditions specifically stated in the project report or on the
Exploration and evaluation assets comprise costs which basis of the following criteria:
are attributable to the search for coal and related resources,
pending the determination of technical feasibility and the a) From beginning of the financial year immediately after
assessment of commercial viability of an identified resource the year in which the project achieves physical output
which comprises inter alia the following: of 25% of rated capacity as per approved project
report, or

b) 2 years of touching of coal, or Exploration and Evaluation assets attributable to blocks
identified for sale or proposed to be sold to outside
c) From the beginning of the financial year in which the
agencies (i.e. for blocks not earmarked for CIL) are however,
value of production is more than total, expenses.
classified as Intangible Assets and tested for impairment.
Whichever event occurs first;
Expenditure on research is charged to expenditure as and
On being brought to revenue, the assets under capital work when incurred. Expenditure on development is capitalized
in progress are reclassified as a component of property, only if the expenditure can be measured reliably, the product
plant and equipment under the nomenclature “Other Mining or process is technically and commercially feasible, future
Infrastructure”. Other Mining Infrastructure are amortised economic benefits are probable and the Company intends
from the year when the mine is brought under revenue in 20 to & has sufficient resources to complete development and
years or working life of the project whichever is less. to use or sell the asset.
2.11 Intangible Assets 2.12 Impairment of Assets (other than financial assets)
Intangible assets acquired separately are measured on initial The Company assesses at the end of each reporting
recognition at cost. Cost includes any directly attributable period whether there is any indication that an asset may
expenses necessary to make the assets ready for its be impaired. If any such indication exists, the Company
intended use. After initial recognition, intangible assets estimates the recoverable amount of the asset. An asset’s
are carried at cost less any accumulated amortisation and recoverable amount is the higher of the asset’s or cash-
accumulated impairment losses. generating unit’s value in use and its fair value less costs of
disposal, and is determined for an individual asset, unless
Subsequent expenditure is recognized as an increase in the the asset does not generate cash inflows that are largely
carrying amount of the asset when it is probable that future independent of those from other assets or groups of assets,
economic benefits deriving from the cost incurred will flow to in which case the recoverable amount is determined for the
the Company and the cost of the item can be measured reliably. cash-generating unit to which the asset belongs. Company
considers individual mines as separate cash generating
An item of Intangible asset is derecognized upon disposal
units for the purpose of test of impairment.
or when no future economic benefits are expected from its
use or disposal. Gains or losses arising from derecognition If the recoverable amount of an asset is estimated to be less
of an intangible asset are measured as the difference than its carrying amount, the carrying amount of the asset
between the net disposal proceeds and the carrying is reduced to its recoverable amount and the impairment
amount of the asset and are recognised in the Statement of loss is recognised in the Statement of Profit and Loss.
Profit and Loss when the asset is derecognised.
2.13 Investment Property
Internally generated intangibles, excluding capitalised
development costs, are not capitalised. Instead, the related Property (land or a building or part of a building or both)
expenditure is recognised in the statement of profit and loss held to earn rentals or for capital appreciation or both,
and other comprehensive income in the period in which the rather than for, use in the production or supply of goods
expenditure is incurred. or services or for administrative purposes; or sale in the
ordinary course of businesses are classified as investment
The useful lives of intangible assets are assessed as either
property.
finite or indefinite. Intangible assets with finite lives are
amortised over their useful economic lives and assessed Investment property is measured initially at its cost,
for impairment whenever there is an indication that the including related transaction costs and where applicable
intangible asset may be impaired. The amortisation period borrowing costs.
and the amortisation method for an intangible asset with
a finite useful life are reviewed at least at the end of each Investment properties are depreciated using the straight-
reporting period. Changes in the expected useful life or line method over their estimated useful lives.
the expected pattern of consumption of future economic
benefits embodied in the asset are considered to modify 2.14 Financial Instruments
the amortisation period or method, as appropriate, and
A financial instrument is any contract that gives rise to a
are treated as changes in accounting estimates. The
financial asset of one entity and a financial liability or equity
amortisation expense on intangible assets with finite lives
instrument of another entity.
is recognised in the statement of profit and loss.
An intangible asset with an indefinite useful life is not amortised

but is tested for impairment at each reporting date.
002-115 116-332 333-513

2.14.1 Financial assets 2.14.2.2 Debt instrument at FVTOCI
2.14.1 Initial recognition and measurement A ‘debt instrument’ is classified as at the FVTOCI
if both of the following criteria are met:
All financial assets are recognised initially at fair value,
in the case of financial assets not recorded at fair value a) The objective of the business model is
through profit or loss, plus transaction costs that are achieved both by collecting contractual cash
attributable to the acquisition of the financial asset. flows and selling the financial assets, and
Purchases or sales of financial assets that require b) The asset’s contractual cash flows represent
delivery of assets within a time frame established by SPPI.
regulation or convention in the market place (regular
way trades) are recognised on the trade date, i.e., the Debt instruments included within the FVTOCI
date that the Company commits to purchase or sell the category are measured initially as well as at each
asset. However, trade receivables that do not contain reporting date at fair value. Fair value movements
are recognized in the other comprehensive
a significant financing component are measured at
income (OCI). However, the Company recognizes
transaction price.
interest income, impairment losses & reversals
2.14.2 Subsequent measurement and foreign exchange gain or loss in the P&L. On
derecognition of the asset, cumulative gain or loss
For purposes of subsequent measurement, financial previously recognised in OCI is reclassified from
assets are classified in four categories: the equity to P&L. Interest earned whilst holding
FVTOCI debt instrument is reported as interest
• Debt instruments at amortised cost income using the EIR method.
• Debt instruments at fair value through other 2.14.2.3 Debt instrument at FVTPL
comprehensive income (FVTOCI)
FVTPL is a residual category for debt instruments.
• Debt instruments, derivatives and equity Any debt instrument, which does not meet the
instruments at fair value through profit or loss criteria for categorization as at amortized cost or
(FVTPL) as FVTOCI, is classified as at FVTPL.
• Equity instruments measured at fair value through In addition, the Company may elect to designate a
other comprehensive income (FVTOCI) debt instrument, which otherwise meets amortized
cost or FVTOCI criteria, as at FVTPL. However,
2.14.2.1 Debt instruments at amortised cost
such election is allowed only if doing so reduces
A ‘debt instrument’ is measured at the amortised or eliminates a measurement or recognition
cost if both the following conditions are met: inconsistency (referred to as ‘accounting
mismatch’). The Company has not designated any
a) The asset is held within a business model debt instrument as at FVTPL.
whose objective is to hold assets for collecting
Debt instruments included within the FVTPL
contractual cash flows, and
category are measured at fair value with all
changes recognized in the P&L.
b) Contractual terms of the asset give rise on
specified dates to cash flows that are solely 2.14.2.4 Equity investments in subsidiaries,
payments of principal and interest (SPPI) on associates and Joint Ventures
the principal amount outstanding.
In accordance of Ind AS 101 (First time adoption of
After initial measurement, such financial assets are Ind AS), the carrying amount of these investments
subsequently measured at amortised cost using as per previous GAAP as on the date of transition is
the effective interest rate (EIR) method. Amortised considered to be the deemed cost. Subsequently
cost is calculated by taking into account any Investment in subsidiaries, associates and joint
discount or premium on acquisition and fees or ventures are measured at cost.
costs that are an integral part of the EIR. The EIR In case of standalone financial statement, Equity
amortisation is included in finance income in the investments in associates and joint ventures are
profit or loss. The losses arising from impairment accounted as per equity method as prescribed in
are recognised in the profit or loss. para 10 of Ind AS 28.

2.14.2.5 Other Equity Investment liability. The transferred asset and the associated
liability are measured on a basis that reflects the
All other equity investments in scope of Ind AS 109 rights and obligations that the Company has
are measured at fair value through profit or loss. retained. Continuing involvement that takes the
form of a guarantee over the transferred asset
The Company may make an irrevocable election
is measured at the lower of the original carrying
to present in other comprehensive income
amount of the asset and the maximum amount of
subsequent changes in the fair value. The
consideration that the Company could be required
Company makes such election on an instrument
to repay.
by-instrument basis. The classification is made on
initial recognition and is irrevocable. 2.14.2.7 Impairment of financial assets (other
than fair value)
All fair value changes of an equity instrument
classified at FVTOCI, are recognized in OCI. There is In accordance with Ind AS 109, the Company
no subsequent reclassification of fair value gains and applies expected credit loss (ECL) model for
losses to the Statement of Profit and Loss. However, measurement and recognition of impairment loss
the Company may transfer the cumulative gain or on the following financial assets and credit risk
loss within equity. Dividends from such investments exposure:
are recognised in the Statement of Profit and Loss
as “other income” when the Company’s right to a) Financial assets that are debt instruments,
receive payments is established. and are measured at amortised cost e.g.,
loans, debt securities, deposits, trade
Equity instruments included within the FVTPL receivables and bank balance
changes recognized in the P&L. b) Financial assets that are debt instruments
and are measured as at FVTOCI
2.14.2.6 Derecognition
c) Lease receivables under Ind AS 116
A financial asset (or, where applicable, a part of d) Trade receivables or any contractual right to
a financial asset or part of a company of similar receive cash or another financial asset that
financial assets) is primarily derecognised (i.e. result from transactions that are within the
removed from the balance sheet) when: scope of Ind AS 115.
• The rights to receive cash flows from the The Company follows ‘simplified approach’ for
asset have expired, or recognition of impairment loss allowance on:
• The Company has transferred its rights to • Trade receivables or contract revenue
receive cash flows from the asset or has receivables; and
assumed an obligation to pay the received
cash flows in full without material delay • All lease receivables resulting from
to a third party under a ‘pass-through’ transactions within the scope of Ind AS 116
arrangement; and either (a) the Company
The application of simplified approach does
has transferred substantially all the risks and
not require the Company to track changes in
rewards of the asset, or (b) the Company has
credit risk. Rather, it recognises impairment
neither transferred nor retained substantially
loss allowance based on lifetime ECLs at each
all the risks and rewards of the asset, but has
reporting date, right from its initial recognition.
transferred control of the asset.
2.14.3 Financial liabilities
When the Company has transferred its rights to
receive cash flows from an asset or has entered 2.14.3.1 Initial recognition and measurement
into a pass-through arrangement, it evaluates
if and to what extent it has retained the risks The Company’s financial liabilities include trade
and rewards of ownership. When it has neither and other payables, loans and borrowings
transferred nor retained substantially all of the including bank overdrafts.
risks and rewards of the asset, nor transferred
All financial liabilities are recognised initially at fair
control of the asset, the Company continues to
value and, in the case of loans and borrowings and
recognise the transferred asset to the extent of
payables, net of directly attributable transaction
the Company’s continuing involvement. In that
costs.
case, the Company also recognises an associated
002-115 116-332 333-513

2.14.3.2 Subsequent measurement 2.14.3.5 Derecognition
The measurement of financial liabilities depends A financial liability is derecognised when the
on their classification, as described below: obligation under the liability is discharged or
cancelled or expires. When an existing financial
2.14.3.3 Financial liabilities at fair value through liability is replaced by another from the same
profit or loss lender on substantially different terms, or the terms
of an existing liability are substantially modified,
Financial liabilities at fair value through profit or such an exchange or modification is treated as
loss include financial liabilities held for trading the derecognition of the original liability and the
and financial liabilities designated upon initial recognition of a new liability. The difference between
recognition as at fair value through profit or loss. the carrying amount of a financial liability (or part
Financial liabilities are classified as held for trading of a financial liability) extinguished or transferred to
if they are incurred for the purpose of repurchasing another party and the consideration paid, including
in the near term. This category also includes any non-cash assets transferred or liabilities
derivative financial instruments entered into by assumed, shall be recognised in profit or loss.
the Company that are not designated as hedging
2.14.4 Reclassification of financial assets
instruments in hedge relationships as defined by
Ind AS 109. Separated embedded derivatives are The Company determines classification of financial assets
also classified as held for trading unless they are and liabilities on initial recognition. After initial recognition,
designated as effective hedging instruments. no reclassification is made for financial assets which are
equity instruments and financial liabilities. For financial
Gains or losses on liabilities held for trading are assets which are debt instruments, a reclassification is
recognised in the profit or loss. made only if there is a change in the business model for
managing those assets. Changes to the business model
2.14.3.4 Financial liabilities at amortised cost are expected to be infrequent. The Company’s senior
management determines change in the business model as
After initial recognition, these are subsequently
a result of external or internal changes which are significant
measured at amortised cost using the effective
to the Company’s operations. Such changes are evident
interest rate method. Gains and losses are to external parties. A change in the business model occurs
recognised in profit or loss when the liabilities when the Company either begins or ceases to perform an
are derecognised as well as through the effective activity that is significant to its operations. If Company
interest rate amortisation process. Amortised cost reclassifies financial assets, it applies the reclassification
is calculated by taking into account any discount prospectively from the reclassification date which is the
or premium on acquisition and fees or costs that first day of the immediately next reporting period following
are an integral part of the effective interest rate. The the change in business model. The Company does not
effective interest rate amortisation is included as restate any previously recognised gains, losses (including
finance costs in the statement of profit and loss. impairment gains or losses) or interest.
The following table shows various reclassification and how they are accounted for
Original Revised
Accounting treatment
classification classification
Amortised cost FVTPL Fair value is measured at reclassification date. Difference between previous
amortized cost and fair value is recognised in P&L.
FVTPL Amortised Cost Fair value at reclassification date becomes its new gross carrying amount. EIR is
calculated based on the new gross carrying amount.
Amortised cost FVTOCI Fair value is measured at reclassification date. Difference between previous
amortised cost and fair value is recognised in OCI. No change in EIR due to
reclassification.
FVTOCI Amortised cost Fair value at reclassification date becomes its new amortised cost carrying
amount. However, cumulative gain or loss in OCI is adjusted against fair value.
Consequently, the asset is measured as if it had always been measured at
amortised cost.
FVTPL FVTOCI Fair value at reclassification date becomes its new carrying amount. No other
adjustment is required.
FVTOCI FVTPL Assets continue to be measured at fair value. Cumulative gain or loss previously
recognized in OCI is reclassified to P&L at the reclassification date.

2.14.5 Offsetting of financial instruments Deferred tax liabilities are recognised for taxable temporary
differences associated with investments in subsidiaries
Financial assets and financial liabilities are offset and and associates, except where the Company is able to
the net amount is reported in the standalone balance control the reversal of the temporary difference and it is
sheet if there is a currently enforceable legal right to probable that the temporary difference will not reverse in
offset the recognised amounts and there is an intention the foreseeable future. Deferred tax assets arising from
to settle on a net basis, to realise the assets and settle deductible temporary differences associated with such
the liabilities simultaneously. investments and interests are only recognised to the extent
that it is probable that there will be sufficient taxable profits
2.14.6 Cash & Cash equivalents
against which to utilise the benefits of the temporary
Cash and cash equivalent in the balance sheet differences.
comprise cash at banks and on hand and short-term
The carrying amount of deferred tax assets is reviewed at
deposits with an original maturity of three months
the end of each reporting period and reduced to the extent
or less, which are subject to an insignificant risk of
that it is no longer probable that sufficient taxable profits will
changes in value. For the purpose of the standalone
be available to allow all or part of the asset to be recovered.
statement of cash flows, cash and cash equivalents
Unrecognised deferred tax assets are reassessed at the
consist of cash and short-term deposits, as defined
end of each reporting year and are recognised to the extent
above, net of outstanding bank overdrafts as they are
that it has become probable that sufficient taxable profit
considered an integral part of the Company’s cash
will be available to allow all or part of the deferred tax asset
management.
to be recovered.
2.15 Borrowing Costs
Deferred tax assets and liabilities are measured at the tax
Borrowing costs are expensed as and when incurred except rates that are expected to apply in the period in which the
where they are directly attributable to the acquisition, liability is settled or the asset is realised, based on tax rate
construction or production of qualifying assets i.e. the (and tax laws) that have been enacted or substantively
assets that necessarily takes substantial period of time enacted by the end of the reporting period.
to get ready for its intended use, in which case they are
The measurement of deferred tax liabilities and assets
capitalised as part of the cost of related asset up to the
reflects the tax consequences that would follow from the
date when the qualifying asset is ready for its intended use.
manner in which the Company expects, at the end of the
2.16 Taxation reporting period, to recover or settle the carrying amount of
its assets and liabilities.
Income tax expense represents the sum of the tax currently
payable and deferred tax. Current and deferred tax are recognised in profit or loss,
except when they relate to items that are recognised in other
Current tax is the amount of income taxes payable comprehensive income or directly in equity, in which case,
(recoverable) in respect of the taxable profit (tax loss) for the current and deferred tax are also recognised in other
a period. Taxable profit differs from “profit before income comprehensive income or directly in equity respectively.
tax” as reported in the statement of profit and loss and Where current tax or deferred tax arises from the initial
other comprehensive income because it excludes items accounting for a business combination, the tax effect is
of income or expense that are taxable or deductible in included in the accounting for the business combination.
other years and it further excludes items that are never
taxable or deductible. The Company’s liability for current Deferred income tax assets and liabilities are offset when
tax is calculated using tax rates that have been enacted or there is a legally enforceable right to offset current tax
substantively enacted by the end of the reporting period. assets against current tax liabilities, and when the deferred
income tax assets and liabilities relate to income taxes
Deferred tax liabilities are generally recognised for all taxable levied by the same taxation authority on either the taxable
temporary differences. Deferred tax assets are generally entity or different taxable entities where there is an intention
recognised for all deductible temporary difference to the to settle the balances on a net basis.
extent that it is probable that taxable profits will be available
against which those deductible temporary differences can 2.17 Employee Benefits
be utilised. Such assets and liabilities are not recognised if
2.17.1 Short-term Benefits
the temporary difference arises from goodwill or from the
initial recognition (other than in a business combination) Short-term employee benefits are employee benefits
of other assets and liabilities in a transaction that affects (other than termination benefits) that are expected to
neither the taxable profit nor the accounting profit. be settled wholly before twelve months after the end
002-115 116-332 333-513

of the annual reporting period in which the employees Re-measurement of the net defined benefit
render the related service. liability, which comprise actuarial gain and losses
considering the return on plan assets (excluding
All short-term employee benefits are recognized in interest) and the effects of the assets ceiling (if any,
the period in which the services are rendered by excluding interest) are recognised immediately in
employees. the other comprehensive income. The Company
determines the net interest expense (income) on
2.17.2 Post-employment benefits and other long-
the net defined benefit liability (asset) for the period
term employee benefits
by applying the discount rate used to measure
2.17.2.1 Defined contributions plans the defined benefit obligation at the beginning
of the annual period to the then net defined
A defined contribution plan is a post-employment benefit liability (asset), taking into account any
benefit plan under which the Company pays changes in the net defined benefit liability (asset)
fixed contribution into fund maintained by a during the period as a result of contributions and
separate body and the Company will have no benefit payments. Net interest expense and other
legal or constructive obligation to pay further expenses related to defined benefit plans are
amounts. Obligations for contributions to defined recognised in profit and loss.
contribution plans are recognised as an employee
When the benefits of the plan are improved, the
benefit expense in the statement of profit and loss
portion of the increased benefit relating to past
in the periods during which services are rendered
service by employees is recognised as expense
by employees.
immediately in the statement of profit and loss.
2.17.2.2 Defined benefits plans
2.17.3 Other long-term employee benefits
A defined benefit plan is a post-employment
Other long-term employee benefits are all employee
benefit plan other than a defined contribution
benefits other than short-term employee benefits,
plan. The Company’s net obligation in respect of
post-employment benefits and termination benefits.
defined benefit plans is calculated by estimating
the amount of future benefit that employees have Other long-term employee benefits include items which
earned in return of their service in the current are not expected to be settled wholly before twelve
and prior periods. The benefit is discounted to months after the end of the annual reporting period in
determine its present value and reduced by the which the employees render the related service.
fair value of plan assets, if any. The discount
For other long-term employee benefits, net total of the
rate is based on the prevailing market yields of
following amounts is recognized in the statement of
Indian Government securities as at the reporting
profit or loss:
date that have maturity dates approximating the
terms of the Company’s obligations and that are (a) Service cost
denominated in the same currency in which the
benefits are expected to be paid. (b) Net interest on the net defined benefit liability
(asset)
The application of actuarial valuation involves
(c) Re-measurements of the net defined benefit
making assumptions about discount rate,
liability (asset)
expected rates of return on assets, future salary
increases, mortality rates etc. Due to the long 2.18 Foreign Currency
term nature of these plans, such estimates
are subject to uncertainties. The calculation is Transactions in foreign currencies are converted into the
performed at each balance sheet by an actuary reported currency of the Company using the exchange rate
using the projected unit credit method. When prevailing at the transaction date. Monetary assets and
the calculation results in to the benefit to the liabilities denominated in foreign currencies outstanding
Company, the recognised asset is limited to the at the end of the reporting period are translated at the
present value of the economic benefits available exchange rates prevailing as at the end of reporting period.
in the form of any future refunds from the plan or Exchange differences arising on the settlement of monetary
reduction in future contributions to the plan. An assets and liabilities or on translating monetary assets and
liabilities at rates different from those at which they were
economic benefit is available to the Company
translated on initial recognition during the period or in
if it is realisable during the life of the plan, or on
previous financial statements are recognised in statement
settlement of plan liabilities.
of profit and loss in the period in which they arise.

Non-monetary items denominated in foreign currency are Book stock of coal is considered in the accounts
valued at the exchange rates prevailing on the date of where the variance between book stock and measured
transactions. stock is up to +/- 5% and in cases where the variance
is beyond +/- 5% the measured stock is considered.
2.19 Stripping Activity Expense/Adjustment Such stock are valued at net realisable value or cost
whichever is lower. Coke is considered as a part of
In case of opencast mining, the mine waste materials
stock of coal.
(“overburden”) which consists of soil and rock on the top
of coal seam is required to be removed to get access to Coal & coke-fines are valued at lower of cost or net
the coal and its extraction. This waste removal activity is realisable value and considered as a part of stock of coal.
known as ‘stripping’. In opencast mines, the Company
has to incur such expenses over the life of the mine (as Slurry (coking/semi-coking), middling of washeries
technically estimated). and by products are valued at net realisable value and
considered as a part of stock of coal.
Therefore, as a policy, in the mines with rated capacity of
one million tonnes per annum and above, cost of Stripping 2.20.2 Stores & Spares
is charged on technically evaluated average stripping ratio
(OB: COAL) at each mine with due adjustment for stripping The Stock of stores and spare parts (which also
activity asset and ratio-variance account after the mines includes loose tools) at central and area stores are
are brought to revenue. considered as per balances appearing in priced stores
ledger and are valued at cost calculated on the basis
Net of balances of stripping activity asset and ratio variance of weighted average method. The inventory of stores
at the Balance Sheet date is shown as Stripping Activity & spare parts lying at collieries / sub-stores / drilling
Adjustment under the head Non - Current Provisions / camps/ consuming centres are considered at the
Other Non-Current Assets as the case may be. year-end only as per physically verified stores and are
valued at cost.
The reported quantity of overburden as per record is
considered in calculating the ratio for OBR accounting Provisions are made at the rate of 100% for
where the variance between reported quantity and unserviceable, damaged and obsolete stores and
measured quantity is within the permissible limits, as spares and at the rate of 50% for stores & spares not
detailed hereunder: - moved for 5 years.
2.20.3 Other Inventories

Annual Quantum of OBR Permissible limits of
Workshop jobs including work-in-progress are valued
Of the Mine variance (%)
at cost. Stock of press jobs (including work in progress)
Less than 1 Mill. CUM +/- 5%
and stationary at printing press and medicines at
Between 1 and 5 Mill. CUM +/- 3%
central hospital are valued at cost.
More than 5 Mill. CUM +/- 2%
However, where the variance is beyond the permissible However, Stock of stationery (other than lying at
limits as above, the measured quantity is considered. printing press), bricks, sand, medicine (except at
Central Hospitals), aircraft spares and scraps are not
In case of mines with rated capacity of less than one million considered in inventory considering their value not
tonne, the above policy is not applied and actual cost of being significant.
stripping activity incurred during the year is recognised in
Statement of Profit and Loss. 2.21 Provisions, Contingent Liabilities & Contingent
Assets
2.20 Inventories
Provisions are recognized when the Company has a present
2.20.1 Stock of Coal obligation (legal or constructive) as a result of a past event,
and it is probable that an outflow of economic benefits will
Inventories of coal/coke are stated at lower of cost be required to settle the obligation and a reliable estimate
and net realisable value. Cost of inventories are of the amount of the obligation can be made. Where the
calculated using the Weighted Average method. Net time value of money is material, provisions are stated at
realisable value represents the estimated selling price the present value of the expenditure expected to settle the
of inventories less all estimated costs of completion obligation.
and costs necessary to make the sale.
002-115 116-332 333-513

All provisions are reviewed at each balance sheet date and 2.23.1.1 Formulation of Accounting Policies
adjusted to reflect the current best estimate.
Accounting policies are formulated in a manner
Where it is not probable that an outflow of economic benefits that result in financial statements containing
will be required, or the amount cannot be estimated reliably, relevant and reliable information about the
the obligation is disclosed as a contingent liability, unless transactions, other events and conditions to which
the probability of outflow of economic benefits is remote. they apply. Those policies need not be applied
Possible obligations, whose existence will only be confirmed when the effect of applying them is immaterial.
by the occurrence or non-occurrence of one or more
future uncertain events not wholly within the control of the In the absence of an Ind AS that specifically
Company, are also disclosed as contingent liabilities unless applies to a transaction, other event or condition,
the probability of outflow of economic benefits is remote. management has used its judgement in developing
and applying an accounting policy that results in
Contingent assets are possible assets that arise from past information that is:
events and whose existence will be confirmed only by the
occurrence or non-occurrence of one or more uncertain a) relevant to the economic decision-making
future events not wholly within the control of the Company. needs of users and
Contingent assets are disclosed in the financial statements
when inflow of economic benefits is probable on the b) reliable in that financial statements: and
basis of judgment of management. These are assessed
(i) represent faithfully the financial position,
continually to ensure that developments are appropriately
financial performance and cash flows of the
reflected in the financial statements.
Company; (ii) reflect the economic substance of
2.22 Earnings per share transactions, other events and conditions, and
not merely the legal form; (iii) are neutral, i.e. free
Basic earnings per share are computed by dividing the net from bias; (iv) are prudent; and (v) arecomplete in
profit after tax by the weighted average number of equity all material respects on a consistent basis
shares outstanding during the period. Diluted earnings per
shares is computed by dividing the profit after tax by the In making the judgement management refers to,
weighted average number of equity shares considered for and considers the applicability of, the following
deriving basic earnings per shares and also the weighted sources in descending order:
average number of equity shares that could have been
(a) the requirements in Ind ASs dealing with
issued upon conversion of all dilutive potential equity shares.
similar and related issues; and
2.23 Judgements, Estimates and Assumptions
(b) the definitions, recognition criteria and
The preparation of the financial statements in conformity with Ind measurement concepts for assets, liabilities,
AS requires management to make estimates, judgements income and expenses in the Framework.
and assumptions that affect the application of accounting
In making the judgement, management considers
policies and the reported amounts of assets and liabilities,
the most recent pronouncements of International
the disclosures of contingent assets and liabilities at the
Accounting Standards Board and in absence
date of financial statements and the amount of revenue
thereof those of the other standard-setting bodies
and expenses during the reported period. Application
that use a similar conceptual framework to
of accounting policies involving complex and subjective
develop accounting standards, other accounting
judgements and the use of assumptions in these financial
literature and accepted industry practices, to the
statements have been disclosed. Accounting estimates
extent that these do not conflict with the Indian
could change from period to period. Actual results could
accountimg Standard and accounting policies
differ from those estimates. Estimates and underlying
and practies as stated in above paragraph.
assumptions are reviewed on an ongoing basis. Revisions
to accounting estimate are recognised in the period in which The Company operates in the mining sector
the estimates are revised and, if material, their effects are (a sector where the exploration, evaluation,
disclosed in the notes to the financial statements. development production phases are based on
the varied topographical and geomining terrain
2.23.1 Judgements
spread over the lease period running over
In the process of applying the Company’s accounting decades and prone to constant changes), the
policies, management has made the following accounting policies whereof have evolved based
judgements, which have the most significant effect on on specific industry practices supported by
the amounts recognised in the financial statements: research committees and approved by the various

regulators owing to its consistent application and estimates on parameters available when the
over the last several decades. In the absence standalone financial statements were prepared.
of specific accounting literature, guidance and Existing circumstances and assumptions about future
standards in certain specific areas which are in developments, however, may change due to market
the process of evolution, the Company continues changes or circumstances arising that are beyond the
to strive to develop accounting policies in line control of the Company. Such changes are reflected in
with the development of accounting literature the assumptions when they occur.
and any development therein shall be accounted
for prospectively as per the procedure laid down The estimates, judgements and associated
above more particularly in Ind AS 8. assumptions are based on historical experience and
other factors that are considered to be relevant. Actual
2.23.1.2 Materiality results may differ from these estimates.
Ind AS applies to items which are material. Estimates and underlying assumptions are reviewed on
Management uses judgement in deciding whether an ongoing basis. Revisions to accounting estimates
individual items or groups of item are material are recognised in the period in which the estimate is
in the financial statements. Materiality is judged revised and future periods affected.
by reference to the nature or magnitude or
both of the item. The deciding factor is whether The application of accounting policies that require
omitting or misstating or obscuring an information critical judgements and accounting estimates involving
could individually or in combination with other complex and subjective judgements and the use of
information influence decisions that primary users assumptions in these standalone financial statements
make on the basis of the financial statements. have been disclosed here in below:
Management also uses judgement of materiality
2.23.2.1 Impairment of non-financial assets
for determining the compliance requirement of
the Ind AS. Further, the Company may also be There is an indication of impairment if, the carrying
required to present separately immaterial items value of an asset or cash generating unit exceeds
when required by law. its recoverable amount, which is the higher of its
fair value less costs of disposal and its value in use.
With effect from 01.04.2019 Errors/omissions
Company considers individual mines as separate
discovered in the current year relating to prior
cash generating units for the purpose of test of
periods are treated as immaterial and adjusted
impairment. The value in use calculation is based
during the current year, if all such errors and
on a DCF model. The cash flows are derived from
omissions in aggregate does not exceed 1% of
the budget for the next five years and do not include
total revenue from Operation (net of statutory
restructuring activities that the Company is not yet
levies) as per the last audited financial statement
committed to or significant future investments that
of the Company.
will enhance the asset’s performance of the CGU
2.23.1.3 Operating lease being tested. The recoverable amount is sensitive
to the discount rate used for the DCF model as
Company has entered into lease agreements. The well as the expected future cash-inflows and the
Company has determined, based on an evaluation growth rate used for extrapolation purposes.
of the terms and conditions of the arrangements, These estimates are most relevant to other mining
such as the lease term not constituting a major part infrastructures. The key assumptions used to
of the economic life of the commercial property determine the recoverable amount for the different
and the fair value of the asset, that it retains all CGUs, are disclosed and further explained in
the significant risks and rewards of ownership of respective notes.
these properties and accounts for the contracts as
operating leases. 2.23.2.2 Taxes
2.23.2 Estimates and assumptions Deferred tax assets are recognised for unused tax
losses to the extent that it is probable that taxable
The key assumptions concerning the future and other profit will be available against which the losses can
key sources of estimation uncertainty at the reporting be utilised. Significant management judgement is
date, that have a significant risk of causing a material required to determine the amount of deferred tax
adjustment to the carrying amounts of assets and assets that can be recognised, based upon the
liabilities within the next financial year, are described likely timing and the level of future taxable profits
below. The Company based its assumptions together with future tax planning strategies.
002-115 116-332 333-513

2.23.2.3 Defined benefit plans The Company has an established control
framework with respect to the measurement
The cost of the defined benefit plan and other of fair values. This includes a finance team that
post-employment medical benefits and the has overall responsibility for overseeing all
present value of the obligations are determined significant fair value measurements who regularly
using actuarial valuations. An actuarial valuation review significant unobservable inputs, valuation
involves making various assumptions that may adjustments and fair value hierarchy under which
differ from actual developments in the future. the valuation should be classified.
These include the determination of the discount
rate, future salary increases and mortality rates. 2.23.2.5 Intangible asset under development
Due to the complexities involved in the valuation The Company capitalises intangible asset under
and its long-term nature, a defined benefit development for a project in accordance with
obligation is highly sensitive to changes in these the accounting policy. Initial capitalisation of
assumptions. All assumptions are reviewed at costs is based on management’s judgement
each reporting date. The parameter most subject that technological and economic feasibility
to change is the discount rate. In determining the is confirmed, usually when a project report is
appropriate discount rate for plans operated in formulated and approved.
India, the management considers the interest rates
of government bonds in currencies consistent with 2.23.2.6 Provision for Mine Closure, Site
the currencies of the post-employment benefit Restoration and Decommissioning Obligation
obligation.
In determining the fair value of the provision for Mine
The mortality rate is based on publicly available Closure, Site Restoration and Decommissioning
mortality tables of the country. Those mortality Obligation, assumptions and estimates are made
tables tend to change only at interval in response in relation to discount rates, the expected cost of
to demographic changes. site restoration and dismantling and the expected
timing of those costs. The Company estimates
2.23.2.4 Fair value measurement of financial provision using the DCF method considering life
instruments of the project/mine based on
Fair value is the price that would be received to • Estimated cost per hectare as specified
sell an asset or paid to transfer a liability in an in guidelines issued by Ministry of Coal,
orderly transaction between market participants Government of India
at the measurement date under current market
conditions. • The discount rate (pre-tax rate) that reflect
current market assessments of the time value
The Company categorizes assets and liabilities of money and the risks specific to the liability.
measured at fair value into one of three levels
depending on the ability to observe inputs 2.23.2.7 Stripping Activity
employed for such measurement:
Ratio Variance reserve is recognized or reversed
(a) Level 1: inputs are quoted prices (unadjusted) based on the current ratio of OB to Coal as
in active markets for identical assets or compared to the average Stripping ratio (Standard
liabilities. ratio) of the mine. The standard ratios are based on
the coal reserves of the mine and the Overburden
(b) Level 2: inputs other than quoted prices to be removed during the life of the mine as per
included within level 1 that are observable the project report. Changes in the geo-mining
either directly or indirectly for the asset or conditions of the project will generally result in
liability. changes in the ratios, such changes to the ratios
are accounted for prospectively.
(c) Level 3: inputs for the asset or liability which
are not based on observable market data
(unobservable inputs).

2.24 Abbreviation used:
a. CGU Cash generating unit l. ECL Eastern Coalfields Limited

b. DCF Discounted Cash Flow m. BCCL Bharat Coking Coal Limited
c. FVTOCI Fair value through Other Comprehensive Income n. CCL Central Coalfields Limited
d. FVTPL Fair value through Profit & Loss o. SECL South Eastern Coalfields Limited
e. GAAP Generally accepted accounting principles p. MCL Mahanadi Coalfields Limited
f. Ind AS Indian Accounting Standards q. NCL Northern Coalfields Limited
g. OCI Other Comprehensive Income r. WCL Western Coalfields Limited
h. P&L Profit and Loss s. CMPDIL Central Mine Planning & Design
Institute Limited
i. PPE Property, Plant and Equipment t. NEC North Eastern Coalfields
j. SPPI Solely Payment of Principal and Interest u. IICM Indian Institute of Coal Management
k. EIR Effective Interest Rate v. CIL Coal India Limited
002-115
NOTE 3 : PROPERTY, PLANT AND EQUIPMENT

(H in crore)
Building
Corporate Overview
Land
(including
Reclamation/ Furniture Surveyed
Freehold water Plant and Office Tele- Railway Other Mining
Other Site and Vehicles Aircraft off Total
Land supply, Equipment2 Equipments communication Sidings Infrastructure
Land Restoration Fixtures Assets
roads and
Costs3
culverts)
Gross Carrying Amount:
116-332
As at 1st April, 2021 12.07 44.17 11.20 296.59 73.50 18.80 2.35 15.38 3.96 3.87 0.58 0.18 0.15 482.80
Additions 83.37 - - 3.24 1.31 0.32 - 3.17 0.02 0.00 - - - 91.43
Deletions/Adjustments 0.01 - - 0.12 (3.94) (0.13) (0.91) (5.60) 2.05 0.95 (0.58) - 0.05 (7.98)
Statutory Reports
As at 31st March, 2022 95.45 44.17 11.20 299.95 70.87 18.99 1.44 12.95 6.03 4.82 0.00 0.18 0.20 566.25
As at 1st April, 2022 95.45 44.17 11.20 299.95 70.87 18.99 1.44 12.95 6.03 4.82 - 0.18 0.20 566.25
Additions 6.02 - 3.17 4.16 0.40 0.76 2.05 8.23 0.43 - - 20.40 0.04 45.66
Deletions/Adjustments - - - (0.06) (2.37) (0.31) (0.12) (1.04) (0.04) - - (3.10) - (7.04)
As at 31st March, 2023 101.47 44.17 14.37 304.05 68.90 19.44 3.37 20.14 6.42 4.82 - 17.48 0.24 604.87
Accumulated Depreciation and Impairment
As at 1st April, 2021 - 39.19 5.67 31.86 32.98 10.01 1.29 10.60 1.98 0.19 - 0.12 0.04 133.93
333-513
Depreciation for the year - 2.37 0.23 7.25 6.16 1.74 0.15 1.64 0.41 0.28 - 0.02 - 20.25
Deletions/Adjustments - 0.02 - 0.04 (4.97) (0.07) (0.89) (4.66) 1.88 - - 0.02 (0.04) (8.67)
As at 31st March, 2022 - 41.58 5.90 39.15 34.17 11.68 0.55 7.58 4.27 0.47 - 0.16 - 145.51
As at 1st April, 2022 - 41.58 5.90 39.15 34.17 11.68 0.55 7.58 4.27 0.47 - 0.16 - 145.51
Depreciation for the year - 1.77 0.35 7.06 5.96 1.72 0.26 3.35 0.27 0.28 - 0.84 - 21.86
Deletions/Adjustments - - - (0.01) (2.29) (0.14) (0.11) (0.90) (0.03) - - - - (3.48)

As at 31st March, 2023 - 43.35 6.25 46.20 37.84 13.26 0.70 10.03 4.51 0.75 - 1.00 0.00 163.89
Net Carrying Amount
As at 31st March, 2023 101.47 0.82 8.12 257.85 31.06 6.18 2.67 10.11 1.91 4.07 - 16.48 0.24 440.98
As at 31st March, 2022 95.45 2.59 5.30 260.80 36.70 7.31 0.89 5.37 1.76 4.35 - 0.02 0.20 420.74
359

NOTE 3 : PROPERTY , PLANT AND EQUIPMENT (Contd..)
1. Title deeds of Immovable Properties not held in name of the Company
Whether title
Title deed holder is a Property
Gross
deeds promoter, director held
Description of carrying Reason for not being held in the name of the
held or relative of since
item of property value company
in the promoter/director which
(J in crore)
name of or employee of date
promoter/director
Freehold land 0.03 Assam No Different 934.45 hectares of free hold land were acquired by
Railways Dates the company in the process of Nationalisation for
and which nil value was recorded in the books.
Trading 10.97 hectares of free hold land were acquired by the
Company company in the process of Nationalisation for which
Limited/ nil value was recorded in the books.
MS Dilli 0.92 hectares of free hold land were acquired by the
Colliery/ company for which title deeds not available which nil
Title value was recorded in the books.
deeds 5.60 hectares of free hold land were acquired by the
not company in the process of Nationalisation for which
available value H 0.03 crore was recorded in the books.
All other title deeds for land acquired are in
possession and are mutated in favour of company
except in few cases of freehold lands, where same is
under progress pending legal formalities.
Other land - Title Not Applicable Different 4489.82 hectares land is in the category of other land
deeds Dates which were acquired by the company in the process
not of Nationalisation for which nil value was recorded in
available the books.
Land acquired in pursuance to Coal Mines
(Nationalisation) Act 1973, Land acquired under
Coal Bearing Areas (Acquisition and Development)
Act, 1957 and Land Acquisition Act, 1894 does not
require title deeds separately for corresponding land.
Building 82.88 Title No Different Buildings are promoted by Standing Committee of
deeds Dates Public Enterprises and NBCC on behalf of Ministry
not of Urban Development (GOI) and CIL has allotment
available letters only as proof of ownership
2. Dankuni Coal Complex / Indian Institute of Coal Management :
a. Property, Plant and Equipment comprising Plant and Equipment and related building and other assets having written down
value as on 31.03.2023 of H9.28 crore (as on 31.03.2022 H9.53 crore), continue to be let out to South Eastern Coalfields
Limited for a lease rent of H1.80 crore per annum under cancellable operating lease agreement.
b. Property, Plant and Equipment comprising Plant and Equipment and related building and other assets having written
down value as on 31.03.2023 of H 11.06 crore (as on 31.03.2022 H11.49 crore) have been let out to Indian Institute of Coal
Management, a registered society under Societies Registration Act, 1860 for an annual lease rent of H0.01 crore under
cancellable operating lease agreement.
3. Land Reclamation/Site Restoration cost comprises of estimated cost to be incurred at the stage of mine closure duly escalated
for inflation (5% p.a.) and then discounted at 8 % discount rate that reflects current market rate of fair value and the risk.
4. The company has not revalued its Property, Plant and Equipment and Intangible assets during the current year or previous year.
5. Refer Note - 38 (7) (a) for movement in impairment

002-115 116-332 333-513

NOTE 4 : CAPITAL WORK IN PROGRESS
(H in crore)
Building (including Other Mining
Plant and Railway Solar
water supply, roads infrastructure/ Total
Equipment Sidings Project
and culverts) Development
As at 1st April, 2021 1.63 0.29 0.95 84.05 - 86.92
Additions 4.29 0.08 - 17.80 11.82 33.99
Capitalisation/Adjustments (0.49) (0.08) (0.95) (64.28) - (65.80)
As at 31st March, 2022 5.43 0.29 - 37.57 11.82 55.11
As at 1st April, 2022 5.43 0.29 - 37.57 11.82 55.11
Additions 4.83 - - 32.63 42.74 80.20
Capitalisation/Adjustments (3.96) (0.11) - (20.40) (0.02) (24.49)
As at 31st March, 2023 6.30 0.18 - 49.80 54.54 110.82
Accumulated Impairment -
As at 1st April, 2021 - 0.20 - 1.48 - 1.68
Deletions/Adjustments - (0.02) - 0.43 - 0.41
As at 31st March, 2022 - 0.18 - 1.91 - 2.09
As at 1st April, 2022 - 0.18 - 1.91 - 2.09
Impairment for the year - - - - - -
Deletions/Adjustments - - - - - -
As at 31st March, 2023 - 0.18 - 1.91 - 2.09
Net Carrying Amount
As at 31st March, 2023 6.30 - - 47.89 54.54 108.73
As at 31st March, 2022 5.43 0.11 - 35.66 11.82 53.02
Note:
1. Ageing schedule for Capital-work-in Progress (Gross):
Amount in Capital Work-in-Progress as at 31-03-2023

Less than 1 More than 3
1-2 years 2-3 years Total
year years
Projects in progress:
Building (including water supply, roads and culverts) 5.40 - 0.90 6.30
Plant and Equipments 0.06 - - 0.12 0.18
Other Mining infrastructure/Development 1.43 - 0.95 47.42 49.80
Solar Project - 54.54 - - 54.54
Total 6.89 54.54 0.95 48.44 110.82
Amount in Capital Work-in-Progress as at 31-03-2022

year years
Building (including water supply, roads and culverts) 4.28 0.98 0.12 0.05 5.43
Plant and Equipments 0.06 0.03 - 0.20 0.29
Other Mining infrastructure/Development 1.38 0.36 14.37 21.46 37.57
Solar Project 11.82 - - - 11.82
Total 17.54 1.37 14.49 21.71 55.11
Amount incurred during the year for any running project are considered as expenditure incurred in the year of project initiation
for the purpose of ageing schedule.

NOTE 5 : EXPLORATION AND EVALUATION ASSETS
(H in crore)
Exploration and
Evaluation Costs
As at 1st April, 2021 11.82
Additions -
Transfer to Capital Work in Progress/Deletions -
As at 31st March, 2022 11.82
Additions -
Transfer to Capital Work in Progress/Deletions (2.56)
As at 31st March, 2023 9.26
Accumulated Impairment
Impairment for the year -
Deletions/Adjustments -
Impairment for the year -
Deletions/Adjustments
Net Carrying Amount
As at 31st March, 2023 -
1. Ageing schedule for Exploration and Evaluation (Gross):
Amount in Exploration and Evaluation as at 31-03-2023

year years
Exploration and Evaluation
Projects temporarily suspended:
Exploration and Evaluation - - 0.03 9.23 9.26
Total - - 0.03 9.23 9.26

year years
Exploration and Evaluation - 0.03 2.66 9.13 11.82
Total - 0.03 2.66 9.13 11.82
002-115 116-332 333-513

NOTE 6.1 : INTANGIBLE ASSETS
(H in crore)
Computer
Total
Software
As at 1st April, 2021 2.70 2.70
Additions 1.50 1.50
Deletions/Adjustments (0.13) (0.13)
As at 31st March, 2022 4.07 4.07
As at 1st April, 2022 4.07 4.07
Additions 131.70 131.70
Deletions/Adjustments - -
As at 31st March, 2023 135.77 135.77
Accumulated Amortisation
As at 1st April, 2021 1.35 1.35
Amortisation for the year 0.58 0.58
As at 31st March, 2022 1.93 1.93
As at 1st April, 2022 1.93 1.93
Amortisation for the year 21.08 21.08
As at 31st March, 2023 23.01 23.01
Net Carrying Amount
As at 31st March, 2023 112.76 112.76
As at 31st March, 2022 2.14 2.14
NOTE 6.2 : INTANGIBLE ASSETS UNDER DEVELOPMENT
ERP under
Development
Carrying Amount:
Additions 18.97
Capitalisation/ Deletions -
As at 31st March, 2022 105.14
As at 1st April, 2022 105.14
Additions 7.03
Capitalisation/ Deletions (112.17)
As at 31st March, 2023 -
1. Ageing schedule for intangible assets under development (Gross)
Amount in Intangible assets under development as at 31-03-2023

year years
ERP under development - - - - -
Projects temporarily suspended :
Project Name
Total - - - - -

NOTE 6.2 : INTANGIBLE ASSETS UNDER DEVELOPMENT (Contd..)

year years
ERP under development - - 105.14 - 105.14
Projects temporarily suspended :
Project Name
Total - - 105.14 - 105.14
NOTE - 07 : INVESTMENTS (NON-CURRENT)

(H in crore)
% of As at As at
Holding 31-03-2023 31-03-2022
Investment in Equity Shares in Subsidiary (Unquoted)
Eastern Coalfields Limited (Sanctoria , West Bengal )1 100% 4,269.42 4,269.42
42694200 equity share of H 1000 each fully paid (P.Y. 42694200 equity share of (100%)
H 1000 each fully paid)
Central Coalfields Limited (Ranchi , Jharkhand ) 100% 940.00 940.00
9400000 equity share of H 1000 each fully paid (P.Y. 9400000 equity share of H 1000 (100%)
each fully paid)
Bharat Coking Coal Limited (Dhanbad, Jharkhand)1 100% 4,657.00 4,657.00
46570000 equity share of H 1000 each fully paid (P.Y. 46570000 equity share of (100%)
Western Coalfields Limited (Nagpur , Maharastra) 100% 297.10 297.10
each fully paid)
Central Mine Planning & Design Institute Limited (Ranchi , Jharkhand) 100% 19.04 19.04
each fully paid)
Northern Coalfields Limited (Singrauli, Madhya Pradesh) 100% 126.19 126.19
each fully paid)
South Eastern Coalfields Limited (Bilaspur, Chattisgarh) 100% 278.36 278.36
each fully paid)
Mahanadi Coalfields Limited (Sambalpur, Orissa) 100% 132.37 132.37
each fully paid)
Coal India Africana Limitada (Moatize, Mozambique)2 Quota 0.53 0.53
Capital
CIL Solar PV Limited (Kolkata, West Bengal) 100% 0.05 0.05
50000 equity share of H 10 each fully paid (P.Y. 50000 equity share of H 10 each fully (100%)
paid)
CIL Navikarniya Urja Limited (Kolkata, West Bengal) 100% 0.05 0.05
50000 equity share of H 10 each fully paid (P.Y. 50000 equity share of H 10 each fully paid) (100%)
10,720.11 10,720.11
002-115 116-332 333-513

NOTE - 07 : INVESTMENTS (NON-CURRENT) (Contd..)
(H in crore)
% of As at As at
Holding 31-03-2023 31-03-2022
Equity Shares in Joint Ventures (Unquoted)
International Coal Venture Private Limited (New Delhi)3 0.19% 2.80 2.80
2800000 equity share of H 10 each fully paid (P.Y. 2800000 equity share of H 10 each (0.19%)
fully paid)
CIL NTPC Urja Private Limited (New Delhi)4 50% 0.08 0.08
Talcher Fertilizers Limited (Bhubneswar, Orissa)5 33.33% 805.48 805.48
805480826 equity share of H 10 each fully paid (P.Y. 805480826 equity share of H 10 (33.33%)
each fully paid)
Hindustan Urvarak & Rasayan Limited (New Delhi)6 33.33% 2,295.96 1,629.42
2295955000 equity share of H 10 each fully paid (P.Y. 1629415000 equity share of (33.33%)
Coal Lignite Urja Vikas Private Limited (Kolkata, West Bengal)7 50% 0.01 0.01
3,104.33 2,437.79
TOTAL 13,824.44 13,157.90
Aggregate amount of unquoted investments: 13,824.44 13,157.90

1. Investment in Eastern Coalfields Limited (ECL) and Bharat Coking Coal Limited (BCCL)
a) The investment in Equity Shares of BCCL, a wholly owned subsidiary, is long term and strategic in nature. The Book Value
of investment in BCCL is H4657 crore (P.Y. H4657 crore) against which the accumulated loss is H872.87 crore ( P.Y. H1383.23
crore). The accumulated loss has come down to H872.87 crore from H4106.03 crore as on 31.03.2013 (i.e. the end of the
year in which it came out of BIFR).
Similarly, the investment in Equity Shares of ECL, a wholly owned subsidiary, is also long term and strategic in nature. The
Book Value of investment in ECL is H4269.42 crore (P.Y. H4269.42 crore) against which the accumulated loss is H1725.55
crore (P. Y. H2455.71 crore). The accumulated loss has come to H1725.55 crore from H2716.00 crore as on 31.03.2015 (i.e.
the end of the year in which it came out of BIFR).
In view of these companies turning around and the investments in these companies being long term and strategic in nature,
book value of investment has been considered.
2. Investment in Coal India Africana Limitada (CIAL)
Coal India Limited, has formed a 100% owned Subsidiary in Republic of Mozambique, named “Coal India Africana Limitada”
to explore non-coking coal properties in Mozambique. The paid up capital (known as “Quota Capital”) is H 0.53 crore. The
investment by CIL in CIAL is strategic and long term in nature. The advance given by CIL to CIAL shown under current account
has been fully provided for because the expenses incurred till date are for the coal blocks which could not be turned into feasible
projects. Pursuant to the directives of CIL Board, a request was made through Government of India for allocation of a new
prospective coal block, the response for which from Mozambique government is awaited. In view of above, the investment does
not have any indication for impairment and as such the same are valued at cost.
3. Investment in International Coal Ventures Private Limited
CIL has entered into a Memorandum of Understanding (vide approval from its Board in 237th meeting held on 24th November,
2007) regarding formation of Special Purpose Vehicle (SPV) through joint venture involving CIL/SAIL/RINL/NTPC & NMDC for
acquisition of coking coal properties abroad. The formation of the SPV had been approved by the Government of India, vide its
approval dated 8th November, 2007.
The aforesaid SPV viz. International Coal Ventures Private Limited was incorporated under Companies Act, 1956 on 20th
May,2009 initially with an authorised capital of H1.00 crore and paid up capital of H0.70 crore. The authorised Capital and paid
up Capital as on 31.03.2023 stood at H3500.00 crore and H1460.29 crore respectively. Out of above paid up capital, Coal India
Limited is owning 0.19% share i.e. H 2.80 crore face value of equity shares.
4. Investment in CIL NTPC Urja Private Limited
CIL NTPC Urja Private Limited, a 50:50 joint venture company was formed on 27th April’2010 between CIL & NTPC for setting
up of joint integrated power plants along with mining of coal. Coal India Limited is presently holding 50% equity shares of face
value of H0.08 crore in the joint venture Company.
5. Investment in Talcher Fertilizers Limited
A Joint venture company named 'Talcher Fertilizers Limited' (formerly known as Rashtriya Coal Gas Fertilizers Limited was
incorporated on 13th November,2015 under the Companies Act, 2013 under a joint venture agreement dated 27th October,2015,
among Coal India Limited (CIL), Rashtriya Chemicals and Fertilizers Limited, GAIL (India) Limited and Fertilizer Corporation of
India Limited with an authorised share capital of H4200.00 crore. Presently Coal India Limited has invested H805.48 crore (i.e.
33.33%) in the joint venture company upto 31-03-2023.
6. Investment in Hindustan Urvarak and Rasayan Limited
By virtue of agreement dated 16th May, 2016 made between CIL and NTPC Limited, a joint venture company named Hindustan
Urvarak and Rasayan Limited (HURL) was formed. Subsequently, joint venture agreement has been revised on 31st October,
2016 to include IOCL, FCIL and HFCL as joint venture partners. The authorised share capital of the company is H 5300.00 crore.
Presently Coal India Limited has invested H 2295.96 crore (i.e. 33.33%) in the joint venture company upto 31-03-2023.
002-115 116-332 333-513

7. Investment in Coal Lignite Urja Vikas Private Limited
A joint venture company named 'Coal Lignite Urja Vikas Private Limited' was incorporated on 10th November, 2020 under
the Companies Act, 2013 under a joint venture agreement dated 08th October, 2020 with NLCIL as joint venture partner. The
authorised share capital of the company is H0.10 crore. Presently Coal India LImited has invested H 0.01 crore (i.e. 50%) in the
joint venture company upto 31-03-2023.
8. Particulars of investment as required in terms of section 186(4) of the Companies Act,2013, have been disclosed under note no.7 above.
NOTE - 07 : INVESTMENTS (CURRENT)

(H in crore)
As at As at
Units NAV (J)
31-03-2023 31-03-2022
Mutual Fund Investment (Unquoted)
SBI Mutual Fund (Liquid Fund Direct Growth) 108442.820 3523.3030 38.21 229.73
(P.Y. 689232.986) (P.Y. 3333.0896)
Canara Robeco Mutual Fund1 13.6370 2696.7127 - 0.01
(P.Y. 30.785) (P.Y. 2548.8729)
Union KBC Mutual Fund 36.85 2169.4479 0.01 -
(P.Y. 17.34) (P.Y. 2043.5589)
Bank of Baroda Mutual Fund 36.638 2595.4687 0.01 17.62
(P.Y. 71818.861) (P.Y. 2452.9344)
TOTAL 38.23 247.36
Aggregate amount of Unquoted Investment: 38.23 247.36
1. The above amount represents H0.0036 crore as at 31-03-2023.
Refer Note -38 4(a) for fair value measurement
2. Particulars of investment as required in terms of section 186(4) of the Companies Act,2013, have been disclosed under note
no.7 above.
NOTE - 08 : LOANS
(H in crore)
As at As at
31-03-2023 31-03-2022
NON-CURRENT
Loans to body corporate and employees
- Secured, considered good 0.02 0.03
1.89 1.90
Less: Allowance for doubtful loans1 1.87 1.87
TOTAL 0.02 0.03
1. For Provisions movement - Refer Note 38(7)(a)
2. There is no loans to Related Parties.
NOTE - 09 : OTHER FINANCIAL ASSETS

(H in crore)
As at As at
31-03-2023 31-03-2022
NON-CURRENT
Security Deposits 3.48 3.60
Bank Deposits with more than 12 months maturity 0.14 200.96
Deposit in Bank under Mine Closure Plan1 75.32 69.28
Deposit in Bank under Shifting and Rehabilitation Fund scheme2&4 5,320.15 4,838.28
Other Deposit and Receivables3&5 35.37 34.96
TOTAL 5,434.46 5,147.08

NOTE - 09 : OTHER FINANCIAL ASSETS (Contd..)
1. Deposit with bank under Mine Closure Plan
Following the guidelines from Ministry of Coal, Government of India for preparation of Mine Closure Plan, an Escrow Account
has been opened. The interest earned/accrued during the period on such Escrow Account H 3.58 crore (P.Y. H2.13 crore) is
included in interest income from deposit with banks disclosed in Note-25. Up to 50% of the total deposited amount including
interest accrued in the ESCROW account may be released after every five years in line with the periodic examination of the
closure plan as per the Guidelines.(Refer Note 21 for Provision for Site Restoration/Mine Closure).
(H in crore)
As at As at
31-03-2023 31-03-2022
Escrow Account Balance
Opening Balance in Escrow Account 69.28 64.21
Add: Amount deposited during Year 2.83 3.15
Add: Interest Credited during the year (net of TDS) 3.21 1.92
Balance in Escrow Account on Closing date 75.32 69.28
2. Deposit in Bank under Shifting and Rehabilitation Fund scheme
Following the direction of the Ministry of Coal, the Company has setup a fund for implementation of action plan for shifting
and rehabilitation, dealing with fire and stabilization of unstable areas of Eastern Coalfields Limited (ECL) and Bharat Coking
Coal Limited (BCCL). The fund is utilized (ECL and BCCL) based on implementation of approved projects in this respect.
The coal producing subsidiaries of CIL are making a contribution of H6/- per tonne of their respective coal dispatch per annum
to this fund, which remains in the custody of CIL as bank deposit for this purpose, till they are disbursed/utilized by subsidiaries/
agencies implementing the relevant projects.
3. Coal India Limited entered into a Consortium Agreement with M/s BEML Limited and M/s Damodar Valley Corporation (DVC) on
08.06.2010 for acquiring specified assets of M/s Mining and Allied Machinery Corporation (under liquidation). The agreement,
inter alia, provided for formation of a joint venture company with a shareholding pattern of 48:26:26 among BEML,CIL and DVC
respectively. CIL has paid its proportionate share towards bid consideration of H 100 crore towards the said acquisition based
on the order passed by Hon'ble High Court of Calcutta. An amount was paid towards bid consideration and other miscellaneous
expenditure H 35.34 crore (P.Y. H 34.96 crore). Further a Company in the name of MAMC Industries Limited (MIL) has been
formed and incorporated on 25th August 2010 as a wholly owned subsidiary of BEML for the intended purpose of Joint Venture
formation. As per terms and condition of the Consortium Agreement, a shareholders' agreement and joint venture agreement
was to be executed. However shareholders' agreement and joint venture agreement are not yet executed.
4. The above include H300 crore to be released from escrow and transfer to the company’s fund being the amount equivalent to
the liability discharged by the company.

(H in crore)
As at As at
31-03-2023 31-03-2022
CURRENT
Current Account Balance with Holding Co./Subsidiaries 757.92 872.78
Less : Allowance for doubtful balances with Subsidiaries2 53.83 53.83
704.09 818.95
Balance with IICM 5.83 5.91
Interest accrued 246.21 124.01
Other Deposit and Receivables1 19.70 87.20
Less : Allowance for doubtful deposits and receivables2 3.47 3.47
16.23 83.73
TOTAL 972.70 1,032.88
1. For dues from directors - Refer Note 38(2)(viii)

002-115 116-332 333-513

NOTE - 10 : OTHER NON-CURRENT ASSETS
(H in crore)
As at As at
31-03-2023 31-03-2022
Capital Advances1 44.23 46.80
Less : Allowance for doubtful advances2 1.43 -
TOTAL 42.80 46.80
NOTE - 11 : OTHER CURRENT ASSETS

(H in crore)
As at As at
31-03-2023 31-03-2022
Advances other than capital advances
Advance to Related Parties 67.27 77.61
Advance payment of statutory dues - 0.27
Other Deposits and Advances1,3&5 252.84 202.36
Less : Allowance for doubtful other deposits and advances2&6 2.27 2.27
250.57 200.09
Progressive Mine Closure Expense incurred 0.40 -
Input Tax Credit receivable4 76.81 59.79
TOTAL 395.05 337.76
1. Other Deposits and Advances includes H 20 crore (P.Y. H 20 crore) for income tax paid under protest.
2. Represents provisions of H 2.27 crore (P.Y. H 2.27 crore) against deposit of realisation from sale of seize coal stock in the custody
of Margherita Treasury. (Refer note - 38(7) (P))
3. Other Deposit and Receivables includes H98.86 crore ((P.Y. H 57.9 crore) for gratuity fund and leave fund net of liabilities.
4. Represent H 76.81 crore (P.Y. H59.79 crore) in respect of input tax credit relating to GST paid on input materials/services available
for utilisation against the GST on output. This to a large extent includes GST on royalty against mining operation paid under
Reverse Charge Mechanism (RCM) at rate of 18% against which the recovery is limited to 5% being the rate of duty payable on
coal. The amount getting accumulated due to inverted tax structure even though not refundable as per notification issued in this
respect, is carried forward considering that there is no time limit for utilising the same.
NOTE - 12 : INVENTORIES
(H in crore)
As at As at
31-03-2023 31-03-2022
Stock of Coal (Finished goods) 19.31 11.99
Stock of Stores and Spares (net)1 1.18 1.09
Stock of Medicine at Central Hospital 0.06 0.08
TOTAL 20.55 13.16
1. Investories of stores and spares include certain slow moving, non-moving and obsolete items. Impairement allowance of H0.40
crore ((P.Y. H0.47 crore) towards obsolescence for such moving, non-moving and obsolete items is carried in the books and as
per the policy of the company the same is adequate and no further impairment allowance is required.
2. Method of valuation : Refer Note No. 2.20 - Significant Accounting Policies on "Inventories"


NOTE - 13 : TRADE RECEIVABLES
(H in crore)
As at As at
31-03-2023 31-03-2022
Unsecured considered good 3.57 2.36
Credit impaired 11.17 11.17
14.74 13.53
Less : Allowance for bad and doubtful debts3 11.17 11.17
TOTAL 3.57 2.36
2. Includes due from Joint Venture Companies (Refer Note No. 38 (2)(B)(ii))
4. Trade Receivables ageing schedule
As at 31-03-2023
Outstanding for following periods from transaction date

Particulars Less than 6 6 months 1 More than Total
1-2 years 2-3 years
months year 3 years
(i) Undisputed Trade Receivables – 3.57 - - - - 3.57
considered good
(ii) Undisputed Trade Receivables - - - - - -
which have significant increase in
credit risk
(iii) Undisputed Trade Receivables – - - - - 7.47 7.47
credit impaired
(iv) Disputed Trade Receivables– - - - - -
considered good
(v) Disputed Trade Receivables – which - - - - -
have significant increase in credit risk
(vi) Disputed Trade Receivables – credit - - - - 3.70 3.70
impaired
Total 3.57 - - - 11.17 14.74
Unbilled dues - - - - - -
Allowance for bad and doubtful debts - - - - 11.17 11.17
Expected credit losses (Loss allowance 0% 0% 0% 0% 100% 76%
provision) - %
As at 31-03-2022

Particulars Less than 6 6 months 1 More than 3 Total
1-2 years 2-3 years
months year years
(i) Undisputed Trade Receivables – 2.36 - - - - 2.36
considered good
(ii) Undisputed Trade Receivables - - - - - -
credit risk
(iii) Undisputed Trade Receivables – - - - - 7.47 7.47
credit impaired
(iv) Disputed Trade Receivables– - - - - -
considered good
002-115 116-332 333-513

NOTE - 13 : TRADE RECEIVABLES (Contd..)

Particulars Less than 6 6 months 1 More than 3 Total
1-2 years 2-3 years
months year years
(v) Disputed Trade Receivables – - - - - -
credit risk
(vi) Disputed Trade Receivables – - - - - 3.70 3.70
credit impaired
Total 2.36 - - - 11.17 13.53
Unbilled dues - - - - - -
Allowance for bad and doubtful debts - - - - 11.17 11.17
Expected credit losses (Loss allowance 0% 0% 0% 0% 100% 83%
provision) - %
NOTE - 14 : CASH AND CASH EQUIVALENTS

(H in crore)
As at As at
31-03-2023 31-03-2022
(a) Balances with Banks
- in Deposit Accounts3 142.50 462.84
- interest bearing (CLTD A/c Etc.) 11.00 3.98
- Non- interest bearing 2.07 2.50
(b) ICDs with Primary Dealers1 - 159.78
(c) Others e-procurement account/GeM account/Imprest balances 10.83 1.26
TOTAL 167.09 631.32
1. ICDs with Primary Dealers are Inter-Corporate Deposits accepted by the Primary Dealers with an original maturity between 7 to
15 days from the date of investment.
2. Cash and cash equivalents comprises cash at bank, sweep accounts and term deposits held with banks with original maturities
of three months or less.
3. Refer footnote 4 of Note 9 'Other Financial Assets
NOTE - 15 : OTHER BANK BALANCES

(H in crore)
As at As at
31-03-2023 31-03-2022
Balances with Banks
Deposit accounts1 987.57 79.01
Deposit accounts (For specific purposes )1&2 4.73 4.16
Unpaid dividend accounts 15.50 12.78
Dividend accounts - 62.20
TOTAL 1,007.80 158.15
1. Other Bank Balances comprises deposits for specific purposes and bank deposits which are expected to realise in cash within
12 months after the reporting date.
2. Deposit for specific purposes are bank deposits held under lien/earmarked as per court order and for other specific purpose.

NOTE - 16 : EQUITY SHARE CAPITAL
(H in crore)
As at As at
31-03-2023 31-03-2022
Authorised Share Capital
8,00,00,00,000 Equity Shares of H10/- each 8,000.00 8,000.00
(8,00,00,00,000 Equity Shares of H10/- each)
Issued, Subscribed and Paid-up Share Capital
6,16,27,28,327 Equity Shares of H10/- each fully paid 6,162.73 6,162.73
(6,16,27,28,327) Equity Shares of H10/- each fully paid
TOTAL 6,162.73 6,162.73
1. Shares in the company held by each shareholder holding more than 5% Shares
% Change
Number of % of Total
Name of Shareholders during the
Shares held Shares
year
Hon'ble President of India (Promoter) 31-03-2023 4075634553.00 66.13 0.00%
31-03-2022 4075634553.00 66.13
Life Insurance Corporation of India 31-03-2023 678015625.00 11.00 0.00%
31-03-2022 678015625.00 11.00
2. Reconciliation of equity shares outstanding at the beginning and at the end of reporting period:-
Particular Number of Share Amount

Balance as on 01.04.2018 6,20,74,09,177 6207.41
Less: Shares bought back by the company during FY 2018-19 4,46,80,850 44.68
Balance as on 31.03.2019 6,16,27,28,327 6162.73
Changes during the Year - -
Balance as on 31.03.2020 6,16,27,28,327 6162.73
Changes during the year - -
Balance as on 31.03.2021 6,16,27,28,327 6162.73
Changes during the period - -
Balance as on 31.03.2022 6,16,27,28,327 6162.73
Changes during the period - -
Balance as on 31-03-2023 6,16,27,28,327 6162.73
3. Listing of shares of Coal India Limited in Stock Exchange.
The shares of Coal India Limited is listed in two major stock exchanges of India, viz. Bombay Stock Exchange and National
Stock Exchange on and from 4th November,2010.
The details of disinvestment/Buyback of shares by Govt of India is furnished below:
% of shares No. of shares

Financial year of Disinvestment Mode
Disinvestment Disinvested
2010-11 10.00% 631636440.00 IPO
2013-14 0.35% 22037834.00 CPSE-ETF
2014-15 10.00% 631636440.00 OFS
2015-16 0.001% 83104.00 CPSE-ETF
2016-17 1.25% 78842816.00 Buyback
2016-17 0.92% 57156437.00 CPSE-ETF
2017-18 0.31% 19299613.00 Bharat 22-ETF
2018-19 0.23% 13991488.00 Bharat 22-ETF
2018-19 3.19% 198003931.00 OFS
2018-19 2.21% 137311943.00 CPSE-ETF
2018-19 0.01% 681840.00 OFS
2018-19 0.38% 23779267.00 Bharat 22-ETF
2018-19 1.37% 84592894.00 CPSE-ETF
002-115 116-332 333-513

NOTE - 16 : EQUITY SHARE CAPITAL (Contd..)

Disinvestment Disinvested
2018-19 0.19% 44293572.00 Buyback
2019-20 1.70% 104977641.00 CPSE ETF FFO5
2019-20 0.21% 12835528.00 Bharat 22 ETF
2019-20 2.91% 179569059.00 CPSE ETF FFO6
2240729847.00
Hence, the number of shares held by Government of India stood at 4075634553 i.e. 66.13% of the total 6162728327 number of
shares outstanding as on 31-03-2023.
4. The Company has only one class of equity shares having a face value H10/- per share. The holders of the equity shares are
entitled to receive dividends as declared from time to time and are entitled to voting rights proportionate to their share holding
at the meeting of shareholders. The dividend proposed by the Board of Directors is subject to the approval of the shareholders
in the Annual General Meeting. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of
the company after payment of all preferential amount, in proportion to their shareholdings.
NOTE 17 : OTHER EQUITY

(H in crore)
Remeasurement of
Capital
Particulars General Retained Defined Benefits Total
Redemption
Reserve2 Earnings3 Plans (net of Tax) -
reserve1
(OCI)4
Balance as at 01-04-2022 1057.81 4276.95 4841.93 18.53 10195.22
Total Comprehensive Income for the year 14,802.31 (125.42) 14676.89
Interim Dividend (12479.57) (12479.57)
Final Dividend (1848.82) (1848.82)
Transfer to/from General Reserve 26.80 (26.80) -
Balance as at 31-03-2023 1057.81 4303.76 5289.05 (106.89) 10543.72
(H in crore)
Remeasurement of
Capital
Particulars General Retained Defined Benefits Total
Redemption
Reserve2 Earnings3 Plans (net of Tax) -
reserve1
(OCI)4
Balance as at 01-04-2021 1057.81 4257.61 5300.10 (26.54) 10588.98
Total Comprehensive Income for the year 11201.57 45.07 11246.64
Interim Dividend (8627.82) (8627.82)
Final Dividend (2156.97) (2156.97)
Transfer to/from General Reserve 19.34 (19.34) -
Adjustment during the year (855.61) (855.61)
Balance as at 31-03-2022 1057.81 4276.95 4841.93 18.53 10195.22
1. Capital Redemption Reserve:- As per Companies Act, 2013 Capital Redemption Reserve is created when company purchases
its own share out of free reserve or securities premium, a sum equal to the nominal value of the shares so purchased is
transferred to capital redemption reserve. The reserve is utilised in accordance with the provisions of the section 69 of the
Companies Act, 2013.

NOTE 17 : OTHER EQUITY (Contd..)
Details of Capital Redemption Reserve
Amount
Particulars Year
(J in crore)
Non-Cumulative 10% Redeemable Preference Share Capital Redemption 904.18 Upto FY 2000-
01
Buyback of Equity Share 108.95 FY 2016-17
Total 1057.81
2. General Reserve:- General reserve is used from time to time to transfer profits from retained earnings for appropriation purposes.
3. Retained Earnings:- Retained Earnings are the profits of the Group earned till date net of appropriations.
Retained Earnings includes fair value change in investment in mutual fund which is notional/unrealised in nature and not available
for distribution of dividend. The balance of H (0.50) crore as at 31-03-2023 and H 1.14 crore as at 31-03-2022.
4. Other Comprehensive Income:- Represents changes in the fair value of Actuarial Benefit of Gratuity and Post Retirement
Medical Benefit.
5. Dividend
The Board of Directors of the company has recommended a final dividend of H 4 (40%) per equity share subject to approval in
the forthcoming Annual General Meeting of the company. The 2nd interim dividend of H 5.25 (52.50%) per equity share and 1st
interim dividend of H 15.00 (150%) per equity share were declared for the Financial Year 2022-23 on 31st January 2023 and 07th
November 2022 respectively.
The company had declared a final dividend of H 3.00 (30%) per equity share and an interim dividend of H14 (140%) per equity
share for the previous financial year.
NOTE - 18 : BORROWINGS
H in crore
As at As at
31-03-2023 31-03-2022
Non-Current
Term Loans
- -
Secured
Unsecured
Current
From Bank
- -
Secured
Unsecured
In case of security on current assets:
Physical quantity of finished goods and work-in-progress are ascertained and taken from the production and other records
maintained and are valued at each quarter based on the policy followed in this respect by the company. The Quarterly Return/
Statements submitted to banks for current assets include these inventories and figures of other current assets taken and compiled
from the books and records and as such are in agreement therewith.
002-115 116-332 333-513

NOTE - 19 : TRADE PAYABLES
H in crore
As at As at
31-03-2023 31-03-2022
Current
Total outstanding dues of micro, small and medium enterprises2 0.29 -
Total outstanding dues of Creditors other than micro, small and medium enterprises 64.91 70.63
TOTAL 65.20 70.63
1. Credit period:- Payment toward Trade payables is made as per the terms and condition of the contract of purchase order.
2. Trade payables -Total outstanding dues of Micro and Small enterprises
Disclosure of Sundry Creditors under Trade Payables is based on the information available with the company regarding the
nature of the suppliers as defined under the Micro, Small and Medium Enterprise Development Act, 2006 (the Act). Disclosure
requirement under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 is given below:
H in crore
As at As at
31-03-2023 31-03-2022
a) Principal & Interest amount remaining unpaid but due thereon as at period end 0.29 -
b) Interest paid by the Company in terms of Section 16 of Micro, Small and - -
Medium Enterprises Development Act, 2006, along with the amount of the
payment made to the supplier beyond the appointed day during the period.
c) Interest due and payable for the period of delay in making payment (which - -
have been paid but beyond the appointed day during the year) but without
adding the interest specified under Micro, Small and Medium Enterprises
Development Act, 2006.
d) Interest accrued and remaining unpaid as at period end - -
e) Further interest remaining due and payable even in the succeeding years, - -
until such date when the interest dues as above are actually paid to the
small enterprise.
3. Trade Payables aging schedule
As at 31-03-2023

Particulars Less than 1 More than 3
1-2 Years 2-3 years Total
year years
i) MSME 0.29 - - - 0.29
ii) Others 55.22 8.90 0.60 0.19 64.91
iii) Disputed dues -MSME - - - - -
iv) Disputed dues -Others - - - - -
Unbilled dues - - - - -
As at 31-03-2022
Trade Payables aging schedule

year years
i) MSME - - - - -
ii) Others 39.51 30.76 0.07 0.29 70.63
iv) Disputed dues -Others - - - - -
Unbilled dues - - - - -

NOTE - 20 : OTHER FINANCIAL LIABILITIES
H in crore
As at As at
31-03-2023 31-03-2022
NON-CURRENT
TOTAL 41.42 55.77
CURRENT
Unpaid dividends1 15.50 15.18
Earnest Money 17.19 0.70
Payable for Capital Expenditure
a. Total outstanding dues of micro, small and medium enterprises2 - -
b. Total outstanding dues of Creditors other than micro, small and medium 66.87 46.08
enterprises
Liability for Employee Benefits 36.84 43.07
Others 44.97 1.50
TOTAL 273.12 106.83
1. During the FY 2022-23 an amount of H NIL (P.Y. H 0.71 crore) in respect of final dividend of FY 2014-15 which has been
transferred to Investor Education and Protection Fund (IEPF) as the same remained unpaid and unclaimed for a period of
seven years from the date of transfer of such dividend to unpaid dividend account.
2. Payable for Capital Expenditure -Total outstanding dues of Micro and Small enterprises
Disclosure of Payable for Capital Expenditure is based on the information available with the company regarding the nature of the
suppliers as defined under the Micro, Small and Medium Enterprise Development Act, 2006 (the Act). Disclosure requirement
under Section of 22 of the Micro, Small and Medium Enterprises Development Act, 2006 is given below:
H in crore
As at As at
31-03-2023 31-03-2022
a) Principal & Interest amount remaining unpaid but due thereon as at period - -
end
b) Interest paid by the Company in terms of Section 16 of Micro, Small and - -
Medium Enterprises Development Act, 2006, along with the amount of the
payment made to the supplier beyond the appointed day during the period.
c) Interest due and payable for the period of delay in making payment (which - -
have been paid but beyond the appointed day during the year) but without
adding the interest specified under Micro, Small and Medium Enterprises
Development Act, 2006.
d) Interest accrued and remaining unpaid as at period end - -
e) Further interest remaining due and payable even in the succeeding years, - -
until such date when the interest dues as above are actually paid to the small
enterprise.
002-115 116-332 333-513

NOTE - 21 : PROVISIONS
H in crore
As at As at
31-03-2023 31-03-2022
NON-CURRENT
Employee Benefits
Gratuity - -
Leave Encashment - -
Post Retirement Medical Benefits 145.47 174.71
Other Employee Benefits 2.97 3.33
148.44 178.04
Other Provisions
Site Restoration/Mine Closure2 48.77 48.18
TOTAL 197.21 226.22
CURRENT
Employee Benefits
Ex- Gratia 4.37 8.26
Performance Related Pay 76.06 58.38
Other Employee Benefits1 42.02 9.97
154.00 93.53
Other Provisions
Others 0.72 0.12
TOTAL 154.72 93.65
1. Pending finalization of the National Coal Wages Agreement (NCWA-XI) for Non-Executives, considering the total impact of
the increase in all elements of salary & wages an estimated provision of H 41.14 crore (includes H 9.09 crore carried from
earlier year) @ H 19,100/- per employee (Non-Executive) per month has been recognized for the period from 01.07.2021 to
31.03.2023 (P.Y. H 9.09 crore). The financial assumptions in the actuarial valuation of long-term benefits of the non-executive
employees consider a 6.25% p.a. of increase in salary for all benefits set out in the formal terms of the plan which includes
NCWA also. Also Refer footnote 1 to Note 28 Employee Benefits Expense.
2. Provision for Site Restoration/Mine Closure
The Company's obligation for land reclamation and decommissioning of structures consists of spending at both surface and
underground mines in accordance with the guidelines from Ministry of Coal, Government of India. The estimate of obligation for
Mine Closure, Site Restoration and Decommissioning based upon detailed calculation and technical assessment of the amount
and timing of the future cash spending to perform the required work. Mine Closure expenditure is provided as per approved
Mine Closure Plan. The estimates of expenses are escalated for inflation, and then discounted at a discount rate (@8%) that
reflects current market assessment of the time value of money and the risks, so that the amount of provision reflects the present
value of the expenditures expected to be required to settle the obligation. The value of the provision is progressively increased
over time as the effect of discounting unwinds; creating an expense recognised as financial expenses. In reference to above
guidelines for preparation of mine closure plan, an escrow account has been opened. (Refer Note - 9)
Reconciliation of Site restoration /Mine Closure :

H in crore
As at As at
31-03-2023 31-03-2022
Site restoration provision on opening date 48.18 46.68
Add: Unwinding of Provision charged for the year 1.92 1.50
Less: Withdrawal during the year (1.33) -
Mine Closure Provision 48.77 48.18


NOTE - 22 : OTHER NON CURRENT LIABILITIES
H in crore
As at As at
31-03-2023 31-03-2022
Shifting and Rehabilitation Fund1,2&3 5,771.41 5,401.11
Deferred Income (Government Grant) 1.25 1.37
TOTAL 5,772.86 5,402.48
1. Refer footnote 2 of note - 9
2. Interest earned on bank deposits earmarked for this fund is credited to this fund.
3. The above includes H 60.98 crore (P.Y. H 109.36 crore) towards TDS on interest earned on deposits made against Shifting and
rehabilitation fund.
NOTE - 23 : OTHER CURRENT LIABILITIES

H in crore
As at As at
31-03-2023 31-03-2022
Statutory Dues 55.00 100.60
Advance from customers and others 134.12 0.78
Others liabilities1 0.64 0.87
TOTAL 189.76 102.25
1. The above includes H0.11 crore (P.Y. 0.11 crore) towards government grant.
NOTE - 24 : REVENUE FROM OPERATIONS

H in crore
Ended 31-03-2023 Ended 31-03-2022
Sales
Sales 753.34 0.87
Less: Statutory Levies 94.07 0.03
Sales (Net) (A)1 659.27 0.84
Other Operating Revenue
Subsidy for Sand Stowing and Protective Works - 0.40
Loading and additional transportation charges 1.08 -
Less : Statutory Levies 0.05 -
1.03 -
Evacuation Facility Charges 1.14 -
Less: Statutory Levies 0.05 -
1.09 -
Revenue from services2 1,521.16 1,334.20
1,289.12 1,130.68
Other Operating Revenue (Net) (B) 1,291.24 1,131.08
Revenue from Operations (A+B) 1,950.51 1,131.92
1. The above includes sale of imported coal quantity 357006.5 tonne amounting to H 469.74 crore (P. Y. H NIL).
2. Revenue from services (net of taxes) includes Facilitation Charge on Import amounting to H13.93 crore (P.Y. HNIL).
3. Refer Note 38 (7)(o).

002-115 116-332 333-513

NOTE - 25 : OTHER INCOME
H in crore
Ended 31-03-2023 Ended 31-03-2022
Interest Income1 174.64 26.57
Dividend Income From Investment in Subsidiaries 14,265.71 10,701.58
Other non-operating income (net of expenses directly attributable to such
income)
Gain on Foreign Exchange Transactions 0.01 -
Gain on Sale of Mutual Fund 13.92 10.51
Lease Rent2 2.98 2.38
Liability/Provision Written Back (net) 0.25 52.42
Fair value changes (net) (0.50) 113.11
Miscellaneous Income 95.62 29.05
TOTAL 14,552.63 10,935.62
1. Includes interest on Income Tax refund of H 43.94 crore (P.Y. H NIL).

2. For Lease rent - as lessee (Refer Note - 38 (7) (d) (ii)
NOTE - 26 : COST OF MATERIALS CONSUMED

H in crore
Ended 31-03-2023 Ended 31-03-2022
Explosives 2.47 -
Timber 0.05 -
Oil and Lubricants 1.83 0.32
HEMM Spares 0.04 0.03
Other Consumable Stores and Spares 0.48 0.84
TOTAL 4.87 1.19
NOTE - 27 : CHANGES IN INVENTORIES OF FINISHED GOODS, WORK IN PROGRESS AND STOCK IN

TRADE
H in crore
Ended 31-03-2023 Ended 31-03-2022
Change in Inventory of coal
Opening Stock of Coal 11.99 -
Closing Stock of Coal 19.31 11.99
Change in Inventory of coal (7.32) (11.99)
TOTAL (7.32) (11.99)
NOTE - 28 : EMPLOYEE BENEFITS EXPENSES

H in crore
Ended 31-03-2023 Ended 31-03-2022
Salary and Wages (including Allowances and Bonus etc.)1 329.69 305.20
Contribution to Provident Fund and Other Funds 68.06 114.98
Staff welfare Expenses 23.73 18.66
TOTAL 421.48 438.84
1. Salary and wages includes NCWA-XI provision H 32.05 crore (P.Y. H 9.09 crore). Refer footnote 1of note-21.

NOTE - 29 : CORPORATE SOCIAL RESPONSIBILITY (CSR) EXPENSE
H in crore
Ended 31-03-2023 Ended 31-03-2022
CSR Expenses 128.93 77.64
TOTAL 128.93 77.64
Pursuance to section 135 of Companies Act 2013, for FY 2022-23 an amount of H7.10 crore (2% of the average net profit of the company
made during the three immediately preceding financial years - considered from the audited financial statements of the respective years)
was required to be spent during 2022-23 towards CSR activities. The company has spent H42.04 crore in cash during the year 2022-23.
Further, excess CSR expenses of H 86.89 crore carried forward as advance upto 31-03-2022 unutilised, has been charged off during the year.
A. Activity wise break-up of CSR Expenses (incurred in Cash) :

H in crore
Particulars
Ended 31-03-2023 Ended 31-03-2022
Eradicating hunger, poverty and malnutrition 25.64 59.56
Promoting education, including special education and employment enhancing 9.76 14.12
vocation skills
Gender equality and measures for reducing inequalities faced by socially and 1.50 0.76
economically backward groups
Environmental sustainability 1.82 -
Protection of national heritage, art and culture 0.28 -
Benefit of armed forces veterans, war widows and their dependents - -
Training to promote rural sports, nationally recognised sports, paralympic - -
sports and olympic sports
Contribution to fund set up by the Central government for socio economic - 2.50
development
Contribution to incubators or research and development projects - -
Contributions to Universities and Research Institutes - -
Rural development projects 2.71 0.60
Slum area development - -
Disaster management, including relief, rehabilitation and reconstruction activities - 0.10
Administrative Expenditure and Impact Assessment 0.33 -
Total 42.04 77.64
B. CSR required to be spent and CSR Expenditure Break-up

H in crore
Particulars
Ended 31-03-2023 Ended 31-03-2022
(a) Amount Required to be spent during the year 7.10 6.81
(b) Amount approved by the Board to be spent during the year 118.04 105.31
(c) Amount spent during the year on:
(i) Construction/Acquisition of any asset 27.85 72.38
(ii) on purposes other than (i) above 14.19 5.26
Total 42.04 77.64
C. Excess amount spent [Section 135(5)]
Amount required
Opening Amount spent Closing
Yearwise Details to be spent
Balance during the year Balance
during the year
Carried Forward in the year 2020-21 - 8.47 95.36 86.89
Charged off during the year being no longer can be carried forward (86.89)
Excess amount spent and carried forward -
Refer footnote to Other Advances and Deposits under Note -11 : Other Current Assets
002-115 116-332 333-513

NOTE - 30 : REPAIRS
H in crore
Ended 31-03-2023 Ended 31-03-2022
Building 16.13 16.53
Plant and Equipment 0.07 0.13
Others 1.74 1.48
TOTAL 17.94 18.14
NOTE - 31 : CONTRACTUAL EXPENSES

H in crore
Ended 31-03-2023 Ended 31-03-2022
Hiring of Plant and Equipments 46.81 7.01
Other Contractual Work 0.48 0.63
TOTAL 47.29 7.64
NOTE - 32 : FINANCE COSTS

H in crore
Ended 31-03-2023 Ended 31-03-2022
Interest Expenses
Unwinding of discounts 1.92 1.50
TOTAL 1.92 1.50
H in crore
Ended 31-03-2023 Ended 31-03-2022
Doubtful Advances 1.43 -
TOTAL 1.43 -
NOTE - 34 : WRITE OFF ( Net of past provisions )

H in crore
Ended 31-03-2023 Ended 31-03-2022
Doubtful advances - 3.97
Less :- Provided earlier - (3.94)
TOTAL - 0.03
NOTE - 35.1 : OTHER EXPENSES

H in crore
Ended 31-03-2023 Ended 31-03-2022
Travelling expenses 10.98 5.06
Training Expenses 8.69 2.23
Telephone and Internet 4.59 1.26
Advertisement and Publicity 5.89 6.77
Freight Charges - 0.01
Security Expenses 12.19 11.11
Consultancy Charges to CMPDIL 0.81 0.36
Legal Expenses 4.24 3.80
Consultancy Charges 25.23 25.68
Under Loading Charges 0.32 -

NOTE - 35.1 : OTHER EXPENSES (Contd..)
H in crore
Ended 31-03-2023 Ended 31-03-2022
Loss on Sale/Discard/Surveyed of Assets 0.18 8.09
Auditor's Remuneration and Expenses
For Audit Fees 0.30 0.30
For Taxation Matters 0.04 -
For Other Services 0.38 0.44
For Reimbursement of Expenses - 0.26
Internal and Other Audit Expenses 0.82 0.97
Lease Rent and Hiring Charges1 25.22 22.96
Rates and Taxes 1.63 1.64
Insurance 0.17 0.18
Loss on Exchange rate variance - 0.02
Other Rescue/Safety Expenses 0.01 0.40
Siding Maintenance Charges 0.01 0.04
Research, Development and Survey expenses 127.72 31.22
Environmental and Tree Plantation Expenses 0.75 0.53
Donations, Rewards and Grant 15.48 3.28
Miscellaneous expenses 27.36 21.85
TOTAL 273.01 148.46
1. For Lease rent - as lessor (Refer Note - 38 (7) (d) (i)
NOTE - 35.2 : Depreciation/Amortization/Impairment

H in crore
Ended 31-03-2023 Ended 31-03-2022
Depreciation on Property, Plant and Equipment 21.86 20.25
Amortization on Intangible assets 21.08 0.58
TOTAL 42.94 20.83
NOTE - 36 : TAX EXPENSE

H in crore
Ended 31-03-2023 Ended 31-03-2022
Current Year 244.66 158.31
Earlier Years 41.12 -
Total Current Tax 285.78 158.31
Deferred tax 5.42 (3.04)
TOTAL 291.20 155.27
Reconciliation of Tax Expenses

H in crore
Ended 31-03-2023 Ended 31-03-2022
Profit before tax 15093.51 11356.84
At income tax rate of 25.168% (31.03.2022: 25.168%) 3,798.73 2,858.29
Less: Tax on Income (Set off with dividend payment) (3590.39) (2693.37)
Add: Tax on non-deductible expenses /(Additional expenses allowed for tax purpose) 41.74 (9.65)
Adjustment for earlier year tax 41.12 -
Income Tax Expenses reported in statement of Profit and Loss 291.20 155.27
Effective income tax rate : 1.93% 1.37%
002-115 116-332 333-513

NOTE - 36 : TAX EXPENSE (Contd..)
Reconciliation of Deferred Tax Assets and Deferred Tax Liabilities
H in crore
Ended 31-03-2023 Ended 31-03-2022
Deferred Tax Liability:
Related to Property, Plant and Equipment and Intangible Assets 29.94 24.52
Others - -
Total (29.94) (24.52)
Note:- Deferred tax assets are not recognised in the books of account.
Carry forward unrecognised deferred tax assets amount is H66.34 crore (P.Y. H28.56 crore)
NOTE - 37 : OTHER COMPREHENSIVE INCOME

H in crore
Ended 31-03-2023 Ended 31-03-2022
Items that will not be reclassified to profit or loss
Remeasurement of defined benefit plans1 (167.60) 60.23
(167.60) 60.23
Income tax relating to items that will not be reclassified to profit or loss
Remeasurement of defined benefit plans 42.18 (15.16)
42.18 (15.16)
TOTAL (125.42) 45.07
1. Represents figures in respect of Gratuity H 0.19 crore (P.Y. H 11.80 crore) and for Post Retirement Medical Benefits H -167.79
crore (P.Y. 48.43 crore).
NOTE – 38: ADDITIONAL NOTES TO THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR
ENDED 31-03-2023
1. Unrecognized items
a) Contingent Liabilities and Contingent Assets
I. Claims against the company not acknowledged as debt (to the extent not provided for)
(H in crore)
State Central
Central Government Public
Particulars Others Total
Government and local Sector
authorities Enterprises
Opening balance as on 01-04-2022 247.64 4.00 0.15 600.64 852.43
Addition during the period 116.33 2.02 - 1.11 119.46
Claims settled during the period
a. From opening balance - - - - -
b. Out of addition during the period - - - - -
Closing balance as on 31-03-2023 363.97 6.02 0.15 601.75 971.89
(H in crore)
State Central
Central Government Public
Particulars Others Total
Government and local Sector
authorities Enterprises
Opening balance as on 01-04-2021 247.64 4.00 0.15 600.67 852.46
Addition during the period - - - 0.07 0.07
Claims settled during the period
a. From opening balance - - - 0.10 0.10
b. Out of addition during the period - - - - -
Closing balance as on 31-03-2022 247.64 4.00 0.15 600.64 852.43

ENDED 31-03-2023 (Contd..)
H in crore
Contingent Liability
Sl. As at As at
Particulars
No. 31-03-2023 31-03-2022
1 Central Government
Income Tax 359.52 243.19
Central Excise 4.45 4.45
Sub-Total 363.97 247.64
2 State Government and Local Authorities
Others 6.02 4.00
Sub-Total 6.02 4.00
3 Central Public Sector Enterprises
Suit against the company under litigation 0.15 0.15
Sub-Total 0.15 0.15
4 Others: (If any)
Miscellaneous - Land and Others 601.75 600.64
Sub-Total 601.75 600.64
Grand Total 971.89 852.43
The Company's pending litigation comprises of claim against the company and proceeding pending tax/statutory/
Government authorities. The Company has reviewed all its pending litigations and proceedings and has made
adequate provisions, and disclosed the contingent liabilities, where applicable, in its Standalone Financial Statements.
The Company does not expects the outcome of these proceedings to have a material impact on its financial position.
Future cash outflows in respect of above are dependent upon the outcome of judgements/decisions.
Contingent Assets:- A contingent asset is a possible asset that arises from past events and whose existence will
be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the
control of the entity. During the normal course of business, several unresolved claims are currently outstanding. The
inflow of economic benefits, in respect of such claims cannot be measured due to uncertainties that surround the
related events and circumstances.
II. Guarantee
The company has given guarantee on behalf of subsidiaries namely, Eastern Coalfields Limited and Mahanadi Coalfields
Limited to the extent of their obligations under loans (principal and interest) made to Export Development Corporation,
Canada and Natexis Banque (for purchase of Machinery from Liebherr France).The outstanding balance as on 31-03-
2023 stood at H 163.73 crore (H158.22 crore) and H 4.58 crore (H4.93 crore) respectively.
(b) Commitments
Estimated amount of contracts remaining to be executed on capital account and not provided for H 17.28 crore
(P.Y.H 10.39 crore) {net of capital advance of H44.23 crore (P.Y. H46.80 crore)}.
Other Commitment: H 235.58 crore (P.Y. H 87.45 crore)

002-115 116-332 333-513

ENDED 31-03-2023
2. Related Party informations
a) Group Information
i) Subsidiary Companies
H in crore
Sl. Country of % Equity Interest
Name Principal activities
No. Incorporation 31-03-2023 31-03-2022
1 Eastern Coalfields Limited (ECL) Coal mining India 100% 100%
2 Bharat Coking Coal Limited Coal mining India 100% 100%
(BCCL)
3 Central Coalfields Limited (CCL) Coal mining India 100% 100%
4 Northern Coalfields Limited (NCL) Coal mining India 100% 100%
5 Western Coalfields Limited (WCL) Coal mining India 100% 100%
6 South Eastern Coalfields Limited Coal mining India 100% 100%
(SECL)
7 Mahanadi Coalfields Limited (MCL) Coal mining India 100% 100%
8 Central Mine Planning & Design Consultancy support in Coal India 100% 100%
Institute Limited (CMPDIL) and Mineral exploration
9 Coal India Africana Limitada, Coal mining Mozambique Quota Quota
Mozambique (CIAL) Capital Capital
10 CIL Solar Private Limited (CSPL) Solar Energy India 100% 100%
11 CIL Navikarniya Urja Limited (CNUL) Renewable Energy India 100% 100%
ii) Joint Venture Companies
Sl. Country of % Equity Interest

1 International Coal Venture Private Coal India 0.19% 0.19%
Limited (ICVL)
2 CIL NTPC Urja Private Limited Energy India 50.00% 50.00%
(CNUPL)
3 Talcher Fertilizers Limited (TFL) Fertiliser India 33.33% 33.33%
4 Hindustan Urvarak and Rasayan Fertiliser India 33.33% 33.33%
Limited (HURL)
5 Coal Lignite Urja Vikas Private Energy India 50.00% 50.00%
Limited (CLUVPL)
iii) Post Employment Benefit Funds and others
Sl. Country of
No. Incorporation
1 Coal India Employees Gratuity Fund Trust India
2 Coal Mines Provident Fund (CMPF) Statutory body under the India
control of Ministry of Coal, GoI
3 Coal India Superannuation Benefit Fund Trust Trust India
4 Contributory Post Retirement Medicare Scheme for Non- Trust India
Executives Modified
5 CIL Executive Defined Contribution Pension Trust Trust India
6 Indian Institute of Coal Management (IICM) Registered Society India
7 Coal India Sports Promotion Association (CISPA) Registered Society India

(iv) Key Managerial Personnel
Name Designation With effect from

Mr. Pramod Agrawal Chairman-Cum-Managing Director 01.02.2020
Director (Finance) - Addl. Charge 29.12.2021 to 28.12.2022
Dr. B. Veera Reddy Director (Technical) 01.02.2022
Director(Marketing)-Addl. Charge 01.05.2022 to 22.12.2022
Director (Finance) - Addl. Charge 29.12.2022
Mr. S. N. Tiwari Director(Marketing) 01.12.2019 to 30.04.2022
Mr. Vinay Ranjan Director(Personnel) 28.07.2021
Mr. Mukesh Choudhary Director(Marketing) 23.12.2022
Mr. Debasish Nanda Director (Business Development) 11.07.2022
Prof. G. Nageswara Rao Independent Director 01.11.2021
Dr. Arun Kumar Oraon Independent Director 05.11.2021
Mr. Kamesh Kant Acharya Independent Director 02.11.2021
Mr. Denesh Singh Independent Director 01.11.2021
Mr. Punambhai Kalabhai Makwana Independent Director 02.11.2021
Mr. B. Rajeshchandar Independent Director 01.11.2021
Capt Ghanshyam Singh Rathore Independent Director 01.03.2023
Mr. V. K. Tiwari Govt. Nominee Directors 29.11.2019 to 21.02.2023
Shri Nagaraju Maddirala Govt. Nominee Directors 22.02.2023
Ms. Nirupama Kotru Govt. Nominee Directors 15.06.2021
Mr. S.K. Mehta CFO 01.01.2022
Mr. B. P. Dubey Company Secretary 21.10.2022
Mr. M Viswanathan Company Secretary 14.12.2011 to 30.09.2022
(v) Remuneration of Key Managerial Personnel

H in crore
Sl. Payment to CMD, Whole Time Directors and Company For the Year For the Year
No. Secretary Ended 31-03-2023 Ended 31-03-2022
i) Short Term Employee Benefits 3.66 2.89
ii) Post-Employment Benefits 0.97 0.75
Total 4.63 3.64
Note:
Actuarial valuation of Gratuity, Leave encashment and Post Employment Medical benefits as on 31-03-2023 is H 1.47
crore (during the year 31-03-2022 H 1.07 crore).
Besides above, whole time Directors have been allowed use of cars for private journey up to a ceiling of 1000 KMs on
payment of H2000 per month as per service conditions.
(vi) Payment to Independent Directors

H in crore
Sl. For the Year For the Year
Payment to Independent Directors
No. Ended 31-03-2023 Ended 31-03-2022
i) Sitting Fees 0.49 0.28
(vii) Balances Outstanding with Key Management Personnel

H in crore
Sl.
Particulars 31-03-2023 31-03-2022
No.
i) Amount Payable Nil Nil
ii) Amount Receivable Nil Nil
002-115 116-332 333-513

(viii) No Trade or other receivables are due from directors or other officers of the company either severally or jointly with
any other person. Nor any trade or other receivable are due from firms or private companies respectively in which any
director is a partner, a director or member.
B. Related Party Transactions within Group
Coal India Limited has entered into transactions with its subsidiaries which include Apex charges, Rehabilitation charges, Lease
rent, Interest on Funds parked by subsidiaries and other expenditure incurred by or on behalf of other subsidiaries through
current account.
As per Ind AS 24, following are the disclosures regarding nature and amount of significant transactions
Outstanding balances as on 31-03-2023 and transations for the period then ended
(J in crore)
Current
Outstanding
Lease Consultancy Account
Apex Rehabilitation Dividend Balances
Name of Related Parties Rent Charges to Balances
Charges Charges Received (Payables)/
Income CMPDIL (Payables)/
Receivables
Receivables
Eastern Coalfields Limited 35.02 21.29 - - 139.33
Bharat Coking Coal Limited 36.18 21.34 - - 395.46
Central Coalfields Limited 152.18 45.02 1,023.66 - 12.47
Western Coalfields Limited 64.28 37.30 - - 189.59
South Eastern Coalfields Limited 334.02 96.03 1,063.55 1.80 (19.07)
Northern Coalfields Limited 262.34 80.11 3,659.45 - 24.43
Mahanadi Coalfields Limited 386.52 115.63 8,425.00 - 19.73
Central Mine Planning & Design - - 94.05 - 0.81 (57.85) 67.27
Institute Limited
Coal India Africana Limitada - - - - 53.83
Total Current Period 1,270.54 416.72 14,265.71 1.80 0.81 757.92 67.27
Outstanding balances as on 31-03-2022 and transations for the year then ended
(J in crore)
Current
Outstanding
Lease Consultancy Account
Apex Rehabilitation Dividend Balances
Name of Related Parties Rent Charges to Balances
Charges Charges Received (Payables)/
Income CMPDIL (Payables)/
Receivables
Receivables
Eastern Coalfields Limited 32.43 21.61 - - 191.54
Bharat Coking Coal Limited 30.51 19.39 - - 371.01
Central Coalfields Limited 137.70 43.12 782.08 - 57.66
Western Coalfields Limited 57.71 38.50 - - 236.95
South Eastern Coalfields Limited 285.02 93.43 432.23 1.80 (18.42)
Northern Coalfields Limited 244.86 75.40 3,596.36 - 34.64
Mahanadi Coalfields Limited 336.34 105.70 5,800.00 - (0.83)
Central Mine Planning & Design - - 90.91 - 0.36 (53.63) 77.61
Institute Limited
Coal India Africana Limitada - - - - 53.83
Total Current Period 1,124.57 397.14 10,701.58 1.80 0.36 872.75 77.61

Outstanding balances as on 31-03-2023 and transations for the period then ended
(J in crore)
Income from Account Balances
Equity
Name of Related Parties Deputation
Contribution Receivable Payable
of manpower
Hindustan Urvarak and Rasayan Limited(HURL) 666.54 3.56 0.66 -
Talcher Fertilizer Limited(TFL) - 0.97 2.21 -
Coal Lignite Urja Vikas Private Limited (CLUVPL) - - - -
International Coal Venture Private Limited (ICVPL) - - - -
CIL NTPC Urja Private Limited - - - -
Total 666.54 4.53 2.87 -
Outstanding balances as on 31-03-2022 and transations for the year then ended
(J in crore)
Income from Account Balances
Equity
Name of Related Parties Deputation
Contribution Receivable Payable
of manpower
Hindustan Urvarak and Rasayan Limited(HURL) 497.65 3.28 0.90 -
Talcher Fertilizer Limited(TFL) 270.00 2.71 1.09 -
Coal Lignite Urja Vikas Private Limited (CLUVPL) - - - -
International Coal Venture Private Limited (ICVPL) - - - -
CIL NTPC Urja Private Limited - - - -
Total 767.65 5.99 1.99 -
Terms and condition of transaction with related parties
All transactions from related parties are made on terms similar in arm’s length transactions. Outstanding balances at
the year end are unsecured and interest free and settlement of these occur in cash. The company has not recorded any
impairment allowances in respect of receivables relating to amounts owed by related parties. This is used on the assessment
undertaken in each financial year by examining the financial position of the related party and the market conditon in which
the related parties operates.
3 Miscellaneous Information
a. Note – 1 and 2 represents Corporate information and Significant Accounting Policies respectively, Note 3 to 23 form part of
the Balance Sheet as at 31-03-2023 and 24 to 37 form part of Statement of Profit and Loss for the year ended on that date.
Note – 38 represents Additional Notes to the Financial Statements.
b. There is no system to ascertain and provide comprehensive list of transactions with struck off companies. However, based
on the information to the extent available with the company, there were no transactions with the companies struck off under
section 248 of the Companies Act, 2013
c. The Standalone Financial Statement, have been approved by the Board of Directors of the company in their meeting dated
07th May, 2023 for issue to the shareholders for their adoption.
002-115 116-332 333-513

4 Fair Value Measurement
(a) Financial Instruments by Category

(J in crore)
31-03-2023 31-03-2022
AMORTISED AMORTISED
FVTPL FVTPL
COST COST
Financial Assets
Investments* :
Preference Shares
- Equity Component - -
- Debt Component - -
Mutual Fund/ ICD 38.23 - 247.36 -
Loans 0.02 0.03
Deposits and receivable 6,407.16 6,179.96
Trade receivables** 3.57 2.36
Cash and cash equivalents 167.09 631.32
Other Bank Balances 1,007.80 158.15
Financial Liabilities
Borrowings and Lease Liabilities - -
Trade payables 65.20 70.63
Security Deposit and Earnest money 150.36 56.77
Other Financial Liabilities 164.18 105.83
* Investment in Equity Shares in Subsidiaries and Joint Ventures are measured at cost which stands at J 13824.44 crore as on 31-03-2023 (J 13157.90
crore 31-03-2022) are not considered above.
** Allowance for Coal Quality Variance deducted from Trade Receivable.
(b) Fair value hierarchy
Table below shows judgements and estimates made in determining the fair values of the financial instruments that are (a)
recognized and measured at fair value and (b) measured at amortized cost and for which fair values are disclosed in the
financial statements. To provide an indication about the reliability of the inputs used in determining fair value, the company
has classified its financial instruments into the three levels prescribed under the accounting standard.
(J in crore)
31-03-2023 31-03-2022
Financial assets and liabilities measured at fair value
Level 1 Level 3 Level 1 Level 3
Financial Assets at FVTPL
Investments :
Mutual Fund/ ICD 38.23 - 247.36 -
(J in crore)
31-03-2023 31-03-2022
Financial Assets
Investments:
Preference Shares
- Equity Component - -
- Debt Component - -
Loans 0.02 0.03
Deposits and receivable 6,407.16 6,179.96
Trade receivables 3.57 2.36
Cash and cash equivalents 167.09 631.32
Other Bank Balances 1,007.80 158.15

(J in crore)
31-03-2023 31-03-2022
Borrowings and Lease Liabilities - -
Trade payables 65.20 70.63
Security Deposit and Earnest money 150.36 56.77
Other Liabilities 164.18 105.83
A brief of each level is given below.
Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes Mutual fund which is
valued using closing Net Asset Value (NAV) as at the reporting date.
Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation
techniques which maximize the use of observable market data and rely as little as possible on entity-specific estimates. If
all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.
Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level
3. This is the case for investments, security deposits and other liabilities included in level 3.
(c) Valuation technique used in determining fair value
Valuation techniques used to value financial instruments include the use of quoted market prices (NAV) of instruments in
respect of investment in Mutual Funds.
(d) Fair value measurements using significant unobservable inputs

At present there are no fair value measurements using significant unobservable inputs.
(e) Fair values of financial assets and liabilities measured at amortised cost
The carrying amounts of trade receivables, short term deposits, cash and cash equivalents, trade payables are considered
to be the same as their fair values, due to their short-term nature.
The Company considers that the Security Deposits does not include a significant financing component. The security
deposits coincide with the company’s performance and the contract requires amounts to be retained for reasons other
than the provision of finance. The withholding of a specified percentage of each milestone payment is intended to
protect the interest of the company, from the contractor failing to adequately complete its obligations under the contract.
Accordingly, transaction cost of Security deposit is considered as fair value at initial recognition and subsequently measured
at amortised cost.
Significant estimates: The fair value of financial instruments that are not traded in an active market is determined using
valuation techniques. The Company uses its judgment to select a method and makes suitable assumptions at the end of
each reporting period.
5 Financial Risk Management
Financial risk management objectives and policies

The Company’s principal financial liabilities comprise trade and other payables. The main purpose of these financial liabilities
is to finance the Company’s operations and to provide guarantees to support its operations. The Company’s principal financial
assets include loans, trade and other receivables, and cash and cash equivalents that is derived directly from its operations.
The Company is exposed to market risk, credit risk and liquidity risk. The Company’s senior management oversees the
management of these risks. The Company’s senior management is supported by a risk committee that advises, inter alia, on
financial risks and the appropriate financial risk governance framework for the Company. The risk committee provides assurance
to the Board of Directors that the Company’s financial risk activities are governed by appropriate policies and procedures and
that financial risks are identified, measured and managed in accordance with the Company’s policies and risk objectives. The
Board of Directors reviews and agrees policies for managing each of these risks, which are summarized below.
002-115 116-332 333-513

This note explains the sources of risk which the entity is exposed to and how the entity manages the risk in the financial statements.
Risk Exposure arising from Measurement Management

Credit Risk Cash and Cash equivalents, Ageing analysis/ Department of Public enterprises (DPE
trade receivables financial asset Credit rating guidelines), diversification of bank deposits
measured at amortised cost credit limits and other securities
Liquidity Risk Borrowings and other liabilities Periodic cash Availability of committed credit lines and
flows borrowing facilities
Market Risk-foreign exchange Future commercial transactions, Cash flow forecast Regular watch and review by senior
recognised financial assets and sensitivity analysis management and audit committee.
liabilities not denominated in INR
Market Risk-interest rate Cash and Cash equivalents, Cash flow forecast Department of Public Enterprises (DPE
Bank deposits and mutual funds sensitivity analysis guidelines), Regular watch and review by
senior management and audit committee.
The Company risk management is carried out by the board of directors as per DPE guidelines issued by Government of India.
The board provides written principles for overall risk management as well as policies covering investment of excess liquidity.
A. Credit Risk:
Credit risk management:
Receivables arise mainly out of sale of Coal. Sale of Coal is broadly categorized as sale through fuel supply agreements
(FSAs) and e-auction.
Macro - economic information (such as regulatory changes) is incorporated as part of the fuel supply agreements (FSAs)
and e-auction terms
Fuel Supply Agreements (FSAs)
As contemplated in and in accordance with the terms of the New Coal Distribution Policy (NCDP), the company enters into
legally enforceable FSAs with customers or with State Nominated Agencies that in turn enters into appropriate distribution
arrangements with end customers. Our FSAs can be broadly categorized into:
• FSAs with customers in the power utilities sector, including State power utilities, private power utilities (“PPUs”) and
independent power producers (“IPPs”);
• FSAs with customers in non-power industries (including captive power plants (“CPPs”)); and
• FSAs with State Nominated Agencies.
E-Auction Scheme
The E-Auction scheme of coal has been introduced to provide access to coal for customers who were not able to source
their coal requirement through the available institutional mechanisms under the NCDP for various reasons, for example,
due to a less than full allocation of their normative requirement under NCDP, seasonality of their coal requirement and
limited requirement of coal that does not warrant a long-term linkage. The quantity of coal to be offered under E-Auction is
reviewed from time to time by the Ministry of Coal.
Credit risk arises when a counterparty defaults on contractual obligations resulting in financial loss to the company.
Provision for expected credit loss: Company provides for expected credit risk loss for doubtful/ credit impaired assets,
by lifetime expected credit losses (Simplified approach). Refer Note - 13, Trade Receivables
Significant estimates and judgments for Impairment of financial assets
The impairment provisions for financial assets disclosed above are based on assumptions about risk of default and
expected loss rates. The Company uses judgment in making these assumptions and selecting the inputs to the impairment
calculation, based on the Company’s past history, existing market conditions as well as forward looking estimates at the
end of each reporting period.

B. Liquidity Risk
Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of
funding through an adequate amount of committed credit facilities to meet obligations when due. Due to the dynamic
nature of the underlying businesses, Company treasury maintains flexibility in funding by maintaining availability under
committed credit lines.
Management monitors forecasts of the Company’s liquidity position (comprising the undrawn borrowing facilities) and cash
and cash equivalents on the basis of expected cash flows. This is generally carried out at local level in accordance with
practice and limits set by the Company. The bank borrowings of Coal India Limited has been secured by creating charge
against stock of coal , stores and spare parts and book debts of CIL and its Subsidiary Companies within consortium
of banks. The total working capital credit limit available to CIL is J430.00 crore, of which fund based limit is J140.00
crore and non-fund based limit is J290.00 crore. Further, J1000.00 crore was set up as Fund based limit and J5190.00
crore(P.Y.J5000.00 crore) was set up as non-fund based limit outside consortium in order to facilitate import of HEMM. Coal
India Limited is contingently liable to the extent such facility is actually utilised by the Subsidiary Companies.
The Company has been sanctioned a term loan of J 364.30 crore from HDFC bank Limited secured by creating exclusive
charge on plant and equipment and movable assets of the 100 MW Solar Project of the Company in Gujarat.
C. Market risk
a) Foreign currency risk
Foreign currency risk arises from future commercial transactions and recognised assets or liabilities denominated
in a currency that is not the Company’s functional currency(INR).The Company is exposed to foreign exchange risk
arising from foreign currency transactions. Foreign exchange risk in respect of foreign operation is considered to be
insignificant. The Company also imports and risk is managed by regular follow up. Company has a policy which is
implemented when foreign currency risk becomes significant.
b) Cash flow and fair value interest rate risk
The Company’s main interest rate risk arises from bank deposits with change in interest rate, exposes the Company to
cash flow interest rate risk. Company policy is to maintain most of its deposits at fixed rate.
Company manages the risk using guidelines issued by Department of Public Enterprises (DPE) on diversification of
bank deposits credit limits and other securities.
Capital management
The company being a government entity manages its capital as per the guidelines of Department of Investment and
Public Asset Management under Ministry of Finance.
Capital Structure of the company is as follows:

H in crore
31-03-2023 31-03-2022
Equity Share capital 6162.73 6162.73
Long term debt - -
6 Employee Benefits: Recognition and Measurement (Ind AS-19)
(I) Defined Benefit Plans
a) Gratuity
The Company provides for gratuity, a post-employment defined benefit plan ("the Gratuity Scheme") covering the
eligible employees. The Gratuity Scheme is funded through trust maintained with Life Insurance Corporation of India,
wherein employer contribution is 2.01% of basic salary and dearness allowances. Every employee who has rendered
continuous service of more than 5 years or more is entitled to receive gratuity amount equal to 15 days salary for each
002-115 116-332 333-513

completed years of service computed as (15 days/26 days in a month* last drawn salary and dearness allowance*
completed years of service) subject to maximum of H 0.20 crore at the time of separation from the company considering
the provisions of the Payment of Gratuity Act 1972 as amended. The liability or asset recognised in the balance sheet
in respect of the Gratuity Scheme is the present value of the defined benefit obligation at the end of the reporting
year less the fair value of plan assets. The defined benefit obligation is calculated at each reporting date by actuaries
using the projected unit credit method. Re-measurement gains and losses arising from experience adjustments and
changes in actuarial assumptions are recognised in the year in which they occur, directly in other comprehensive
income (OCI).
b) Post-Retirement Medical Benefit – Executive (CPRMSE)
Company has post-retirement medical benefit scheme known as Contributory Post Retirement Medicare Scheme for
Executive of CIL and its Subsidiaries (CPRMSE), to provide Medicare to the executives and their spouses in Company
hospital/empanelled hospitals or outpatient/Domiciliary only in India subject to ceiling limit, on account of retirement on
attaining the age of superannuation or are separated by the Company on medical ground or retirement under Voluntary
Retirement Scheme under common coal cadre or Voluntary Retirement Scheme formulated and made applicable
from time to time. Membership is not extended to the executives who resigns from the services of the CIL and its
subsidiaries. The maximum amount reimbursable during the entire life for the retired executives and spouse taken
together jointly or severally is H 25 lakhs except for specified diseases with no upper limit. The Scheme is funded
through trust for group, maintained with Life Insurance Corporation of India. The liability for the scheme is recognised
based on actuarial valuation done at each reporting date.
C) Post-Retirement Medical Benefit – Non Executive (CPRMS -NE)
As a part of social security scheme under wage agreement, Company is providing Contributory Post-Retirement
Medicare Scheme for non-executives (CPRMSE-NE) to provide medical care to the non-executives and their spouses
and Divyang Child(ren) in Company hospital/empanelled hospitals or outpatient/Domiciliary only in India subject to
ceiling limit, on account of retirement on attaining the age of superannuation or are separated by the Company on
medical ground or retirement under Voluntary Retirement Scheme formulated and made applicable from time to time
or resigns from the company at the age of 57 Years or above or on death to the spouse and Divyang Child(ren). The
maximum amount reimbursable during the entire life for the retired non-executives, spouse and Divyang Child(ren)
taken together jointly or severally is H 8 lakhs except for specified diseases with no upper limit. The Scheme is funded
through trust for group, maintained with Life Insurance Corporation of India. The liability for the scheme is recognised
based on actuarial valuation done at each reporting date.
(II) Defined Contribution Plans
a) Provident Fund and Pension
Company pays fixed contribution towards Provident Fund and Pension Fund at pre-determined rates based on a
fixed percentage of the eligible employee's salary i.e. 12% and 7% of Basic salary and Variable Dearness Allowance
towards Provident Fund and Pension Fund respectively. These funds are governed by a separate statutory body under
the control of Ministry of Coal, Government of India, named Coal Mines Provident Fund Organisation (CMPFO).The
contribution towards the fund for the period is recognized in the Statement of Profit and Loss.
b) CIL Executive Defined Contribution Pension Scheme (NPS)
The company provides a post-employment contributory pension scheme to the executives of the Company known as
“CIL Executive Defined Contribution Pension Scheme -2007” (NPS). The Scheme is funded through trust for group,
maintained with Life Insurance Corporation of India. The obligation of the Company is to contribute to the trust to the
extent of amount not exceeding 30% of basic pay and dearness allowance less employer’s contribution towards provident
fund, gratuity, post-retirement medical benefits -Executive i.e. CPRMSE or any other retirement benefits. The current
employer contribution of 6.99% of basic and Dearness Allowance is being charged to statement of profit and loss.

(III) Other Long Term Employee Benefits
a) Leave encashment
The company provides benefit of total Earned Leave (EL) of 30 days and Half Paid Leave (HPL) of 20 days to the
executives of the company, accrued and credited proportionately on half yearly basis on the first day of January and
July of every year. During the service, 75% EL credited balance is one time encashable in each calendar year subject
to ceiling of maximum 60 days EL encashment. Accumulated HPL is not permitted for encashment during the period
of service. On superannuation, EL and HPL together is considered for encashment subject to the overall limit of 300
days without commutation of HPL. In case of non-executives, Leave encashment is governed by the National Coal
Wage Agreement (NCWA) and at present the workmen are entitled to get encashment of earned leave at the rate of 15
days per year and on discontinuation of service due to death, retirement, superannuation and VRS, the balance leave
or 150 days whichever is less, is allowed for encashment. Therefore, the liabilities for earned leave are expected to
be settled during the service as well as after the retirement of employee. They are therefore measured as the present
value of expected future payments to be made in respect of services provided by employees up to the end of the
reporting period using the projected unit credit method. The benefits are discounted using the market yields at the end
of the reporting period that have terms approximating to the terms of the related obligation. The scheme is funded by
qualifying insurance policies from Life Insurance Corporation of India. The liability under the scheme is borne by the
Company as per actuarial valuation at each reporting date.
b) Life Cover Scheme (LCS)
As a part of the social security scheme, the Company has a Life Cover Scheme known as “Life Cover Scheme of Coal
India Limited” (LCS) which covers all the executive and non-executive cadre employees. In case of death in service, an
amount of H 1,25,000 is paid to the nominees under the scheme w.e.f 01.10.2017. The expected cost of the benefits is
recognized when an event occurs that causes the benefit payable under the scheme.
c) Settlement Allowances
As a part of wage agreement, a lump sum amount of H 12000/- is paid to all the non-executive cadre employees
governed under NCWA on their superannuation on or after 31.10.2010 as settling-in allowance. The liability under the
scheme is borne by the Company as per actuarial valuation at each reporting date.
d) Group Personal Accident Insurance (GPAIS)
Company has taken group insurance scheme from United India Insurance Company Limited to cover the executives of
the company against personal accident known as “Coal India Executives Group Personal Accident Insurance Scheme”
(GPAIS). GPAIS covers all types of accident on 24 hour basis worldwide. Premium for the scheme is borne by the Company.
e) Leave Travel Concession (LTC)
As a part of wage agreement, Non-executive employees are entitled to travel assistance for visiting their home town
and for “Bharat Bhraman” once in a block of 4 years. A lump sum amount of H 8000/- and H 12000/- is paid for visiting
Home town and “Bharat Bhraman”, respectively. The liability for the scheme is recognised based on actuarial valuation
at each reporting date.
f) Compensation to Dependent on Mine Accident Benefits
As a part of social security scheme under wage agreement, the company provide the benefits admissible under The
Employee’s Compensation Act, 1923. An amount of H 15 lakhs is paid to the next of kin of an employee in case of a fatal
mine accident w.e.f 07.11.2019. The expected cost of the benefits is recognised when an event occurs that causes the
benefit payable under the scheme.
002-115 116-332 333-513

Funding status of defined benefit plans and other long term employee benefits plans are as under:
(i) Funded
o Gratuity
o Leave Encashment
o Post-Retirement Medical Benefit – Executive (CPRMSE)
o Post-Retirement Medical Benefit – Non Executive (CPRMS -NE)
(ii) Unfunded
o Life Cover Scheme
o Settlement Allowance
o Group Personal Accident Insurance
o Leave Travel Concession
o Compensation to dependent on Mine Accident Benefits
Acturial Provisions J 569.47 crore as on 31-03-2023 based on valuation made by the Actuary, details of which
are mentioned below:
(H in crore)
Opening Incremental Opening Incremental Closing
Actuarial Liability/ Actuarial Liability/ Actuarial
Particulars provisions (adjustment) provisions (adjustment) provisions
as on during the as on during the as on
01/04/21 period 01/04/22 period 31-03-2023
Gratuity 188.99 (22.28) 166.71 (21.98) 144.73
Leave 75.28 0.66 75.94 (2.52) 73.42
Settlement Allowance 2.15 1.07 3.22 (0.32) 2.90
Leave Travel Concession 1.59 (0.64) 0.95 (0.03) 0.92
Post Retired Medical Benefits 238.12 (38.26) 199.86 147.64 347.50
Total 506.13 (59.45) 446.68 122.79 569.47
Disclosure as per Actuary’s Certificate
The disclosures as per actuary’s certificate for employee benefits for Gratuity (funded) and Leave Encashment (funded)
are given below: -

ACTUARIAL VALUATION OF GRATUITY AS AT 31-03-2023 CERTIFICATES AS PER IND AS 19
Disclosure of Defined Benefit Cost for the Year ending 31-03-2023

A Profit and Loss
Ended 31-03-2023 Ended 31-03-2022
1 Current service cost 1.61 10.59
2 Past service cost - plan amendments - -
3 Curtailment cost / (credit) - -
4 Settlement cost / (credit) - -
5 Service cost 1.61 10.59
6 Net interest on net defined benefit liability / (asset) (4.69) (2.55)
7 Immediate recognition of (gains)/losses – other long term employee benefit - -
8 Cost recognised in Profit and loss (3.08) 8.04

B Other Comprehensive Income ( OCI )
Ended 31-03-2023 Ended 31-03-2022
1 Actuarial (gain)/loss due to DBO experience 3.09 (11.09)
2 Actuarial (gain)/loss due to DBO assumption changes (3.95) 0.44
3 Actuarial (gain)/loss arising during period (0.86) (10.65)
4 Return on plan assets (greater)/less than discount rate 0.67 (1.15)
5 Actuarial (gains)/ losses recognized in OCI (0.19) (11.80)

C Defined Benefit Cost
Ended 31-03-2023 Ended 31-03-2022
2 Net interest on net def (4.69) (2.55)
3 Actuarial (gains)/ loss (0.19) (11.80)
4 Immediate recognition - -
5 Defined Benefit Cost (3.27) (3.76)

D Assumptions
Ended 31-03-2023 Ended 31-03-2022
1 Discount Rate 7.30% 6.80%
2 Rate of salary increase Executives: 9%; Executives: 9%;
Non Executives: Non Executives:
6.25% 6.25%
3 Withdrawal Rate 0.30% 0.30%
4 Mortality Rate Indian Assured Indian Assured
Lives Mortality Lives Mortality
(2006-08) Ultimate (2006-08) Ultimate
Specimen Mortality rates
Age Rates Age Rates

20 0.000888 45 0.002874
25 0.000984 50 0.004946
30 0.001056 55 0.007888
35 0.001282 60 0.011534
40 0.001803 65 0.017009
002-115 116-332 333-513

Net Balance Sheet position as at 31-03-2023

A Development of Net Balance Sheet Position
Ended 31-03-2023 Ended 31-03-2022
1 Defined benefit obligation (DBO) (144.73) (166.72)
2 Fair value of plan assets (FVA) 231.78 220.75
3 Funded status [surplus/(deficit)] 87.05 54.03
4 Effect of Asset ceiling - 0.00
5 Net defined benefit asset/ (liability) 87.05 54.03

B Development of Net Balance Sheet Position
Ended 31-03-2023 Ended 31-03-2022
1 Net defined benefit asset/ (liability) at end of prior period 54.03 24.21
2 Service cost -1.61 (10.59)
3 Net interest on net defined benefit liability/ (asset) 4.69 2.55
4 Amount recognised in OCI 0.19 11.80
5 Employer contributions 29.75 26.06
6 Benefit paid directly by the Company - -
7 Acquisitions credit/ (cost) - -
8 Divestitures - -
9 Cost of termination benefits - -
10 Net defined benefit asset/ (liability) at end of current period 87.05 54.03
Changes in Benefit Obligations and Assets over the Year ending 31-03-2023

A Change in Defined Benefit Obligation (DBO)
Ended 31-03-2023 Ended 31-03-2022
1 DBO at end of prior period 166.72 189.00
3 Interest cost on the DBO 10.22 11.78
4 Curtailment (credit)/ cost - -
5 Settlement (credit)/ cost - -
7 Acquisitions (credit)/ cost - -
8 Actuarial (gain)/loss - experience 3.09 (11.09)
9 Actuarial (gain)/loss - demographic assumptions - -
10 Actuarial (gain)/loss - financial assumptions (3.95) 0.44
11 Benefits paid directly by the Company - -
12 Benefits paid from plan assets (32.95) (34.00)
13 DBO at end of current period 144.74 166.72

B Change in Fair Value of Assets
Ended 31-03-2023 Ended 31-03-2022
1 Fair value of assets at end of prior period 220.75 213.21
2 Acquisition adjustment - -
3 Interest income on plan assets 14.91 14.33
5 Return on plan assets greater/(lesser) than discount rate (0.67) 1.15
6 Benefits paid (32.95) (34.00)
7 Fair Value of assets at the end of current period 231.78 220.75

Additional Disclosure Information
A Expected benefit payments for the year ending

1 March 31, 2024 26.03
2 March 31, 2025 17.57
3 March 31, 2026 19.21
4 March 31, 2027 14.93
5 March 31, 2028 16.19
6 March 31, 2029 to March 31, 2033 66.96
7 Beyond 10 years 86.39
B Expected employer contributions for the period ending 31 March 2024 1.22
C Weighted average duration of defined benefit obligation 6 Years
D Accrued Benefit Obligation at 31 March 2023 126.32
E Plan Asset Information as at 31 March 2023

Government of India Securities (Central and State) 0%
High quality corporate bonds (including Public Sector Bonds) 0%
Equity shares of listed companies 0%
Property 0%
Cash (including Special Deposits) 0%
Schemes of insurance - conventional products 100%
Schemes of insurance - ULIP products 0%
Other 0%
Total 100%
F Current and Non Current Liability Breakup 31-03-2023

1 Current Liability 25.13
2 Non Current Liability 119.60
3 Liability as at 31 March 2023 144.73
Sensitivity Analysis
DBO on base assumptions as at 31 March 2023 144.73
A Discount Rate
Discount Rate as at 31 March 2023 7.30%
1 Effect on DBO due to 0.5% increase in Discount Rate (3.72)
Percentage Impact -3%
2 Effect on DBO due to 0.5% decrease in Discount Rate 3.95
Percentage Impact 3%
B Salary Escalation Rate

Salary Escalation Rate as at 31 March 2023 Executives: 9%;
Non Executives:
6.25%
1 Effect on DBO due to 0.5% increase in Salary Escalation 0.53
2 Effect on DBO due to 0.5% decrease in Salary Escalation (0.58)
002-115 116-332 333-513

ACTUARIAL VALUATION OF LEAVE BENEFIT AS AT 31-03-2023 CERTIFICATES AS PER IND AS 19

A Profit and Loss
Ended 31-03-2023 Ended 31-03-2022
6 Net interest on net defined benefit liability / (asset) (0.78) 0.10
7 Immediate recognition of (gains)/losses – other long term employee benefit (1.67) 3.19
8 Cost recognised in Profit and Loss 7.29 13.66

B Defined Benefit Cost
Ended 31-03-2023 Ended 31-03-2022
2 Net interest on net def (0.78) 0.10
3 Actuarial (gains)/ lose - -
4 Immediate recognition (1.67) 3.19
5 Defined Benefit Cost 7.29 13.66

C Assumptions
Ended 31-03-2023 Ended 31-03-2022
6.25% 6.25%
Age Rates Age Rates

20 0.000888 45 0.002874
25 0.000984 50 0.004946
30 0.001056 55 0.007888
35 0.001282 60 0.011534
40 0.001803 65 0.017009

Ended 31-03-2023 Ended 31-03-2022
3 Funded status [surplus/(deficit)] 11.81 3.86
4 Effect of Asset ceiling - -
5 Net defined benefit asset/ (liability) 11.81 3.86


B Reconciliation of Net Balance Sheet Position
Ended 31-03-2023 Ended 31-03-2022
1 Net defined benefit asset/ (liability) at end of prior period 3.86 (20.56)
2 Service cost (9.74) (10.37)
3 Net interest on net defined benefit liability/ (asset) 0.78 (0.10)
4 Actuarial (losses)/gains 1.67 (3.19)
8 Divestitures - -
10 Net defined benefit asset/ (liability) at end of current period 11.80 3.86

Ended 31-03-2023 Ended 31-03-2022
8 Actuarial (gain)/loss - experience 1.91 3.24

Ended 31-03-2023 Ended 31-03-2022
1 Fair value of assets at end of prior period 79.80 54.72
5 Return on plan assets greater/(lesser) than discount rate 0.35 0.38
6 Benefits paid (15.57) (17.82)

1 March 31, 2024 9.52
2 March 31, 2025 8.28
3 March 31, 2026 8.12
4 March 31, 2027 6.36
5 March 31, 2028 7.21
6 March 31, 2029 to March 31, 2033 30.95
D Accrued Benefit Obligation at 31 March 2023 43.72
002-115 116-332 333-513

E Plan Asset Information as at 31 March 2023 Percentage

Property 0%
Other 0%
Total 100%

2 Non Current Liability 64.23
3 Liability as at 31 March 2023 73.42
A Discount Rate

Salary Escalation Rate as at 31 March 2023 Executives: 9%;
Non Executives:
6.25%
ACTUARIAL VALUATION OF POST RETIREMENT MEDICAL BENEFIT AS AT 31-03-2023 CERTIFICATES

AS PER IND AS 19

A Profit & Loss (Profit and Loss)
Ended 31-03-2023 Ended 31-03-2022
2 Past service cost - plan amendments - 16.64
6 Net interest on net defined benefit liability / (asset) 6.56 16.25
8 Cost recognised in Profit and Loss 7.73 33.98

AS PER IND AS 19

Ended 31-03-2023 Ended 31-03-2022
3 Actuarial (gain)/loss arising during period 178.00 (49.72)
4 Return on plan assets (greater)/less than discount rate (10.20) 1.28
5 Actuarial (gains)/ losses recognized in OCI 167.80 (48.43)

Ended 31-03-2023 Ended 31-03-2022
2 Net interest on net def 6.56 16.25
3 Actuarial (gains)/ lose 167.79 (48.43)
4 Immediate recognition - -
5 Defined Benefit Cost 175.51 -14.46
D Assumptions For the Year Ended 31-03-2023 For the Year Ended 31-03-2022
2 Medical Inflation rate 0.00% 0.00%
4 Mortality Rate - Inservice Indian Assured Lives Mortality Indian Assured Lives Mortality
5 Mortality Rate - Post retirement Indian Assured Lives Mortality Indian Assured Lives Mortality
6 Average Medical Cost (H) Executive Employees: Domiciliary Executive Employees: Domiciliary
Benefit - H 36,000 p.a. Benefit - H 36,000 p.a.
Hospitalisation Benefit - H 35,000 Hospitalisation Benefit - H 35,000
p.a. p.a.
Non Executive Employees: Non Executive Employees:
Domiciliary Domiciliary
Benefit+Hospitalisation Benefit Benefit+Hospitalisation Benefit
combined - H 18,000 p.a. combined - H 18,000 p.a.
7 Spouse Age Difference Spouse is 5 years younger than Spouse is 5 years younger than
Member Member
Specimen Mortality Rates: Indian Assured Lives Mortality (2006-08) Ultimate table
Age Rates Age Rates

20 0.000888 45 0.002874
25 0.000984 50 0.004946
30 0.001056 55 0.007888
35 0.001282 60 0.011534
40 0.001803 65 0.017009
002-115 116-332 333-513

AS PER IND AS 19
Specimen Mortality Rates: Indian Individual Annuitant’s Mortality Table (2012-15)
Age Rates
60 0.006349
65 0.01007
70 0.016393
75 0.027379
80 0.04673

Ended 31-03-2023 Ended 31-03-2022
3 Funded status [surplus/(deficit)] (177.02) (191.55)
5 Net defined benefit asset/ (liability) (177.02) (191.55)

B Reconciliation of Net Balance Sheet Position
Ended 31-03-2023 Ended 31-03-2022
1 Net defined benefit asset/ (liability) at end of prior period (191.55) (243.61)
2 Service cost (1.17) (17.72)
3 Net interest on net defined benefit liability/ (asset) (6.56) (16.25)
4 Amount recognised in OCI (16.78) 48.43
8 Divestitures - -
10 Net defined benefit asset/ (liability) at end of current period (177.01) (191.55)

Ended 31-03-2023 Ended 31-03-2022
9 Actuarial (gain)/loss - demographic assumptions - 12.60

AS PER IND AS 19

Ended 31-03-2023 Ended 31-03-2022
1 Fair value of assets at end of prior period 8.33 (5.49)
5 Return on plan assets greater/(lesser) than discount rate 10.20 (1.28)
6 Benefits paid (43.64) (22.66)

1 March 31, 2024 32.68
2 March 31, 2025 32.57
3 March 31, 2026 32.34
4 March 31, 2027 32.09
5 March 31, 2028 31.73
6 March 31, 2029 to March 31, 2033 151.73
B Weighted average duration of defined benefit obligation 9 Years
C Accrued Benefit Obligation at 31 March 2023 347.49
A Discount Rate
7 Other Information
a) Provisions
The position and movement of various provisions as per Ind AS-37 except those relating to employee benefits which are valued
actuarially, as on 31-03-2023 are given below:
(H in crore)
Opening Write back/ Opening Write back/ Closing
Addition Addition
Balance Adjustment/ Balance Adjustment/ Balance
Provisions during during
as on Paid during as on 01- Paid during as on 31-
the year the year
01.04.2021 the Year 04-2022 the Year 03-2023
Note 3:- Property, Plant and
Equipments :
Impairment of Assets 0.10 21.64 21.74 - - 21.74
Note 4:- Capital Work in Progress :
Against CWIP 1.68 0.41 2.09 - - 2.09
Note 5:- Exploration And
Evaluation Assets :
Provision and Impairment 9.26 - 9.26 - - 9.26
Note 8:- Loans :
Other Loans - Non current 1.87 - 1.87 - - 1.87
002-115 116-332 333-513

(H in crore)
Opening Write back/ Opening Write back/ Closing
Addition Addition
Balance Adjustment/ Balance Adjustment/ Balance
Provisions during during
as on Paid during as on 01- Paid during as on 31-
the year the year
01.04.2021 the Year 04-2022 the Year 03-2023
Note 9:- Other Financial Assets:
Current
Current Account with Subsidiaries 53.83 - 53.83 - - 53.83
Other Deposits and Receivables 7.41 (3.94) 3.47 - - 3.47
Note 10:- Other Non Current Assets :
Capital Advances - - - 1.43 - 1.43
Note 11:- Other Current Assets :
Other Deposits and Advances 2.27 - 2.27 - - 2.27
Note 12:- Inventories
Provision for Stores and Spares 0 0.47 0.47 (0.07) 0.40
Note 13:-Trade Receivables :
Provision for bad and doubtful debts 11.17 - 11.17 - - 11.17
Note 21 :- Non-Current
Employee Benefits
Other Employee Benefits 21.06 (17.73) 3.33 (2.80) 2.44 2.97
Other Provisions
Site Restoration/Mine Closure 46.68 1.50 - 48.18 1.92 (1.33) 48.77
Current
Employee Benefits
Ex- Gratia 9.33 (1.07) 8.26 (15.81) 11.92 4.37
Performance Related Pay 52.00 6.38 - 58.38 17.68 - 76.06
Other Employee Benefits 2.05 7.92 - 9.97 32.05 - 42.02
Other Provisions
Others 0.12 - 0.12 0.60 - 0.72
(b) Authorised Preference Share capital

(H in crore)
As at As at
Particulars
31-03-2023 31-03-2022
90,41,800 Non-Cumulative 10% Redeemable Preference Shares of H10/- each 904.18 904.18
(P.Y. 90,41,800 Non-Cumulative 10% Redeemable Preference Shares of H10/- each)
(c) Earnings per share

Particulars
No. Ended 31-03-2023 Ended 31-03-2022
i) Net profit after tax attributable to Equity Share Holders H in crore 14802.31 11201.57
ii) Weighted Average no. of Equity Shares Outstanding 6162728327 6162728327
iii) Basic and Diluted Earnings per Share in Rupees (Face value H10/- per share) H 24.02 H 18.18
(d) (i) Lease - as a lessee
CIL has taken a Guest House at Hailey Road, New Delhi on a short term lease for monthly rent of H 0.02 crore for the period
July'2021 to May'2022. The monthly lease payments associated with the lease for the period is recognised as an expense
in the Statement of Profit and loss.
(ii) Lease - as a lessor
(A) CIL has leased out the assets viz. land, building, structures, furniture and fixtures and other assets of Dankuni Coal
Complex to South Eastern Coalfields Limited. The lease rent payable by SECL to CIL is H 0.15 crore per month.

(B) CIL has leased out the assets viz. land, building, structures, furniture and fixtures and other assets to IICM, Ranchi
(Jharkhand). The lease rent payable by IICM to CIL is H 0.001 crore per month w.e.f. 01.04.2020.
(C) CIL has leased out the office premises in Delhi to Coal Controller Organisation (CCO) at H 0.08 crore per months w.e.f.
01.11.2021. The rent is enhanced by 5% every year.
(D) CIL (North Eastern Coalfields) has leased out land in Assam at nominal rent of H 0.0002 crore Per annum.
(e) Joint Operations:
CIL and ONGC have entered agreement for CBM development and operation in Jharia and Raniganj North CBM Blocks as joint
operation as per GoI CBM policy under the aegis of Directorate General of Hydrocarbons (DGH).
1. The Development Plan of Jharia CBM Block (Stage-I) is already approved by CIL as well as ONGC, however acceptable start
date of Development Phase is subject to clarification from DGH. As on 31.03.2022 Participating Interest (PI) of CIL is 26%.
2. The CBM development and operation project in Raniganj North CBM Block is under consideration of CIL and ONGC management .
3. Management certified provisional billing statement of CBM Jharia Block has been considered for FY 2020-21.
(f) Subsidiaries incorporated for Solar Business
Coal India has incorporated two wholly owned subsidiaries on 16th April, 2021 viz. CIL Solar PV Limited for manufacturing of
solar value chain (Ingot-wafer-Cell Module) and CIL Navikarniya Urja Limited for renewable energy.
(g) Goods procured by Coal India Limited on behalf of Subsidiaries
As per existing practice, goods purchased by Coal India Limited on behalf of subsidiary companies are accounted for in the
books of respective subsidiaries directly.
(h) Insurance and escalation claims
Insurance and escalation claims are accounted for on the basis of admission/final settlement.
(i) Provisions made in the Accounts
Provisions made in the accounts against slow moving/non-moving/obsolete stores, claims receivable, advances, doubtful debts
etc. are considered adequate to cover possible losses.
(j) Current Assets, Loans and Advances etc.
In the opinion of the Management and to the best of their knowledge and belief , the value on realisation on current assets, loans
and advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance
sheet. The debit/credit balances of parties are subject to confirmation and realisation thereof.
(k) Current Liabilities
Estimated liability has been provided where actual liability could not be measured.
(l) Disaggregated revenue information:
The table below presents disaggregated revenues from contract with customers information as per requirement of Ind AS 115,
Revenue From Contract with Customer:
(H in crore)
Disaggregated revenue information:
Ended 31-03-2023 Ended 31-03-2022
Types of goods or service
- Coal 659.27 0.84
- Others - -
Total revenue from Sale of Coal and others 659.27 0.84
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(H in crore)
Disaggregated revenue information:
Ended 31-03-2023 Ended 31-03-2022
Types of customers
- Power sector 469.74 -
- Non-Power Sector 189.53 0.84
Types of contract
- FSA - -
- E Auction 189.53 0.84
- Import and sale 469.74 -
Timing of goods or service
- Goods transferred at a point in time 659.27 0.84
(m) Ratios
For the For the

Description Year Ended Year Ended Variance
31-03-2023 31-03-2022
(a) Current Ratio: The current ratio indicates a company’s overall liquidity 5.08 9.39 -46%
position. It is widely used by banks in making decisions regarding the
advancing of working capital credit to their clients. Current ratio has been
calculated as Current Assets divided by Current liabilities.
Reason for Variance: Mainly due to 88% increase in current liabilities
during the year
(b) Debt-Equity Ratio: Debt-to-equity ratio compares a Company’s total - - 0%
debt to shareholders equity. Both of these numbers can be found in a
Company’s balance sheet. Debt-Equity Ratio has been calculated as
total debt divided by Shareholder’s Equity.
(c) Debt Service Coverage Ratio: Debt Service coverage ratio is used to - - 0%
analyse the firm’s ability to pay-off current interest and instalments. Debt
Service Coverage Ratio is calculated as Earning available for debt service
divided by Debt Service.
Earning for Debt Service = Net Profit after taxes + Non-cash operating
expenses like depreciation and other amortizations + Interest + other
adjustments like loss on sale of Fixed assets etc.
Debt service = Interest & Lease Payments + Principal Repayments
“Net Profit after tax” means reported amount of “Profit / (loss) for the
period” and it does not include items of other comprehensive income.
(d) Return on Equity Ratio: It measures the profitability of equity funds 0.90 0.68 32%
invested in the Company. The ratio reveals how profitability of the equity-
holders’ funds have been utilized by the Company. It also measures the
percentage return generated to equity-holders. The ratio is computed
as: (Net Profits after taxes less Preference Dividend (if any)) divided by
Average Shareholder’s Equity
Reason for Variance: Mainly due to 33% higher dividend received from
subsidiaries during the year.

For the For the
31-03-2023 31-03-2022
(e) Inventory turnover ratio: This ratio also known as stock turnover ratio 39.11 0.12 32868%
and it establishes the relationship between the cost of goods sold during
the period or sales during the period and average inventory held during
the period. It measures the efficiency with which a Company utilizes or
manages its inventory. Inventory turnover ratio is calculated as Cost of
goods sold OR net sales divided by Average Inventory.
Average inventory is (Opening + Closing balance / 2)
When the information opening and closing balances of inventory is not
available then the ratio can be calculated by dividing COGS OR Sales by
closing balance of Inventory. Accordingly total sales has been considered
in the ratio.
Reason for Variance: Mainly due to increase in sales during the year,
as there was no dispatch in NEC (a unit of CIL) due to suspension of
activities in Previous year.
(f) Trade Receivables turnover ratio: It measures the efficiency at which 184.67 0.36 51783%
the firm is managing the receivables.
Trade receivables turnover ratio = Net Credit Sales / Avg. Accounts
Receivable
Net credit sales consist of gross credit sales minus sales return. Trade
receivables includes sundry debtors and bills receivables.
Average trade debtors = (Opening + Closing balance / 2)
When the information about credit sales, opening and closing balances of
trade debtors is not available then the ratio can be calculated by dividing
total sales by closing balances of trade receivables. Accordingly total
sales has been considered in the ratio.
Reason for Variance: Mainly due to increase in sales during the year, as
there was no dispatch in NEC (a unit of CIL) during suspension of activities.
(g) Trade payables turnover ratio: It indicates the number of times sundry 12.58 2.60 383%
creditors have been paid during a period. It is calculated to judge the
requirements of cash for paying sundry creditors. It is calculated by
dividing the net credit purchases by average creditors.
Trade payables turnover ratio = Net Credit Purchases / Average Trade Payables
Net credit purchases consist of gross credit purchases minus purchase
return
When the information about credit purchases, opening and closing
balances of trade creditors is not available then the ratio is calculated by
dividing total purchases by the closing balance of trade creditors.
Total purchase has been calculated as sum total of cost of material
consumed, purchase of stock in trade, power expense, repairs,
contractual expense and other expenses.
Reason for Variance: Mainly due to increase in purchase cost by 277%
during the year.
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For the For the
31-03-2023 31-03-2022
(h) Net capital turnover ratio: It indicates a company’s effectiveness in using 0.22 0.00 90552%
its working capital. The working capital turnover ratio is calculated as follows:
net sales divided by the average amount of working capital during the same
period. Net capital turnover ratio = Net Sales / Working Capital
Net sales shall be calculated as total sales minus sales returns.
Working capital shall be calculated as current assets minus current liabilities.
(i) Net profit ratio: It measures the relationship between net profit and sales 22.45 13,335.20 -100%
of the business.
Net Profit Ratio = Net Profit / Net Sales
Net profit shall be after tax.
Net sales shall be calculated as total sales minus sales returns.
(j) Return on Capital employed: Return on capital employed indicates the 90.81% 69.79% 30%
ability of a company’s management to generate returns for both the debt
holders and the equity holders. Higher the ratio, more efficiently is the
capital being employed by the company to generate returns.
ROCE = Earning before interest and taxes / Capital Employed
Capital Employed = Tangible Net Worth + Total Debt + Deferred Tax Liability
Reason for Variance: Mainly due to 33% higher dividend received from
subsidiaries during the year.
(k) Return on investment : Return on investment (ROI) is a financial ratio
used to calculate the benefit received by the company in relation to its
investment cost. The higher the ratio, the greater the benefit earned.
(i) ROI on Equity Investment in Unlisted Subsidiaries: Dividend/Average 133.07% 110.39% 21%
Investment in Equity of Subs.
(ii) ROI on Equity Investment in Joint ventures: ROI = Dividend Received/ 0.00% 0.00% 0%
Average Investment in Equity of JV
(iii) ROI on Fixed Income Investment (Bonds/Debentures etc.) =Interest 0 0 0%
income/ Average Investment
(iv) ROI on Mutual fund = Dividend+Capital gain+Fair value gain(Loss)/ 9.40% 77.29% -88%
Average Investment
Reason for Variance: Mainly due to decrease in fair value gain by 89%
during the year.
(v) ROI on deposits (With Banks, Fis incl ICDs) = Interest income/ 18.50% 4.69% 294%
Average Investment
Reason for Variance: Mainly due to 67% higher average investment.

(n) During the financial year 2013-14, a case of misappropriation of Company's fund for personal gain came to the notice of the
management. The matter has been investigated by different agencies and appropriate action for recovery is underway. As per
the estimate of the internal audit department of Coal India Limited, the amount involved is H1.17 crore approximately.
(o) Suspension of mines
The committee of functional director of Coal India Limited vide its 229th meeting dated 05th June, 2020 has ratified the decision
to temporarily suspend the mining operation at NEC (in Tikak, Tipong and Tirap Colliery) from 03rd June, 2020 till forestry and
other statutory clearances are obtained and mines are made operational.
However Mining operations have been started in Tikak Extension OCP mines from 10th February, 2022.
(p) Seized Stock of Coal
As per the direction given by Dy. Director of Forests, Regional Office, MoEF Shillong on 24th October, 2019, 4810.76 tonnes of
coal lying in the Tikak colliery was seized and directed not to carry out any mining operation at Tikak Colliery. NEC Protested the
seizure of coal at Tikak Colliery and filed a case in the SDJM's Court, Margherita. The Hon'ble court has taken cognizance of the
matter and case is pending till date. Based on, order of the Hon'ble court, Divisional Forest Officer, Digboi Division has directed
to sell the coal and deposit the money under the custody of Margherita Treasury.
Based on the above order, NEC sold 906.46 tonnes of coal amounting to H 0.37 crore in FY 2020-21 and 3904.30 tonnes of coal
amounting to H 1.93 crore in FY 2019-20 and collected Royalty of H 0.04 crore in FY 2020-21 and H 0.25 crore in FY 2019-20 on
this sale included in Sale of Coal (Note-23). The inventory of FY 2019-20 includes stock of seized coal 906.46 tonnes valued H
0.32 crore (Note-12).
Further, on the direction of Divisional Forest Officer, Digboi Division NEC has deposited amounting H 2.26 crore under the
custody of Margherita Treasury. The management has also recognised the provision against such deposit in the Financial
Statement (Refer Note 20)
(q) No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or
kind of funds) by the Company to or in any other person(s) or entity (ies), including foreign entities (“Intermediaries”) with the
understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on
behalf of the Company (Ultimate Beneficiaries). The Company has not received any fund from any party(s) (Funding Party) with
the understanding that the Company shall whether, directly or indirectly lend or invest in other persons or entities identified by
or on behalf of the funding party (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate
Beneficiaries.
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(r) The Company's main business is Coal mining. All other activities of the company revolve around the main business. As such,
there are no separate reportable segments for the company.
(s) Based on the information to the extent available with the company, there were no transactions with the companies struck off
under section 248 of the Companies Act, 2013
(t) Figures for the previous year have been regrouped wherever necessary, in order to make them comparable.
(u) The Standalone Financial Statementt, have been reviewed and recommended by the Audit Committee and thereafter approved
by the Board at their respective meeting held on 07th May, 2023. As required under Regulation 33 of the Securities and
Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Statutory Auditors have
conducted audit of the Financial Statement for the For the Year Ended 31-03-2023.
Signature to Note 1 to 38.

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CONSOLIDATED
FINANCIAL
STATEMENTS
CONSOLIDATED BALANCE SHEET H in crore

Note As at As at
No. 31-03-2023 31-03-2022
ASSETS
Non-Current Assets
(a) Property, Plant and Equipment 03 44,447.97 42,697.79
(b) Capital work in progress 04 15,262.62 12,713.73
(c) Exploration and Evaluation Assets 05 4,924.85 3,873.55
(d) Intangible Assets 06.1 2,588.11 105.62
(e) Intangible Assets under Development 06.2 2,359.35 183.41
(f) Financial Assets (i) Investments 07 3,085.40 2,426.97
(ii) Loans 08 372.21 355.47
(iii) Other Financial Assets 09 16,300.29 14,498.79
(g) Deferred Tax Assets (Net) 38(8)(b) 4,177.00 4,128.42
(h) Other Non-Current Assets 10 9,606.15 6,407.94
TOTAL NON-CURRENT ASSETS (A) 1,03,123.95 87,391.69
Current Assets
(a) Inventories 12 8,154.68 7,075.68
(b) Financial Assets (i) Investments 07 4,054.01 6,493.63
(ii) Trade Receivables 13 13,060.48 11,367.68
(iii) Cash and Cash equivalents 14 5,665.38 7,063.48
(iv) Other Bank Balances 15 34,256.47 22,901.75
(v) Loans 08 20.79 0.32
(vi) Other Financial Assets 09 2,716.96 2,620.91
(c) Current Tax Assets (Net) 8,719.00 8,423.19
(d) Other Current Assets 11 31,434.93 26,899.35
TOTAL CURRENT ASSETS (B) 1,08,082.70 92,845.99
TOTAL ASSETS (A+B) 2,11,206.65 1,80,237.68
Equity
(a) Equity Share Capital 16 6,162.73 6,162.73
(b) Other Equity 17 51,082.16 36,980.31
Equity attributable to equityholders of the company 57,244.89 43,143.04
Non-Controlling Interests 770.68 673.79
TOTAL EQUITY (A) 58,015.57 43,816.83
Liabilities
Non-Current Liabilities
(a) Financial Liabilities (i) Borrowings 18 4,106.25 3,301.78
(ia) Lease Liabilities 157.00 159.66
(ii) Other Financial Liabilities 20 3,207.57 2,477.84
(b) Provisions 21 68,827.95 65,944.00
(c) Deferred Tax Liabilities (Net) 38(8)(b) 1,330.68 801.35
(d) Other Non-Current Liabilities 22 6,826.99 6,527.71
TOTAL NON-CURRENT LIABILITIES (B) 84,456.44 79,212.34
Current Liabilities
(a) Financial Liabilities (i) Borrowings 18 8.48 7.98
(ia) Lease Liabilities 59.69 44.22
(ii) Trade Payables 19
(I) Total outstanding dues of 53.90 42.54
enterprises; and
(II) Total outstanding dues 8,495.28 8,560.99
of Creditors other than
enterprises
(iii) Other Financial Liabilities 20 12,815.19 11,431.07
(b) Other Current Liabilities 23 32,313.94 30,897.32
(c) Provisions 21 14,963.38 6,224.39
(d) Current Tax Liabilities (Net) 24.78 -
TOTAL CURRENT LIABILITIES (C) 68,734.64 57,208.51
TOTAL EQUITY AND LIABILITIES (A+B+C) 2,11,206.65 1,80,237.68
The Accompanying Note No. 1 to 38 form an integral part of the Consolidated Financial Statements.
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STATEMENT OF CONSOLIDATED PROFIT AND LOSS H in crore

Note For the Year Ended For the Year Ended
No. 31-03-2023 31-03-2022
Revenue from Operations (Net of levies)
A Sales 24 1,27,627.47 1,00,562.57
B Other Operating Revenue 10,624.44 9,152.85
(I) Revenue from Operations (Net of levies) (A+B) 1,38,251.91 1,09,715.42
(II) Other Income 25 6,550.66 3,881.41
(III) Total Income (I+II) 1,44,802.57 1,13,596.83
Expenses
Cost of Materials Consumed 26 13,557.00 9,443.51
Purchase of Stock-in-Trade 469.74 103.56
Changes in inventories of finished goods, Stock-in -Trade and work in-progress 27 (678.12) 2,308.49
Employee Benefits Expense 28 49,409.16 40,473.21
Power Expense 2,759.89 2,638.46
Corporate Social Responsibility Expense 29 586.50 548.98
Repairs 30 1,772.28 1,632.33
Contractual Expense 31 23,289.21 18,875.16
Finance Costs 32 684.31 541.49
Depreciation/Amortization/Impairment 4,675.27 4,428.67
Provisions 33 374.93 172.77
Write off 34 192.60 11.56
Stripping Activity Adjustment 3,809.11 3,760.86
Other Expenses 35 5,891.74 5,032.91
(IV) Total Expenses 1,06,793.62 89,971.96
(V) Profit before Share of Joint Venture profit/(loss) (III-IV) 38,008.95 23,624.87
(VI) Share of Joint Venture profit/(loss) (8.14) (8.59)
(VII) Profit before Tax (V+VI) 38,000.81 23,616.28
Tax Expense 36
Current Tax 9,389.75 6,257.12
Deferred Tax 486.12 (19.26)
(VIII) Total tax expenses 9,875.87 6,237.86
(IX) Profit for the year (VII-VIII) 28,124.94 17,378.42
Other Comprehensive Income
A (i) Items that will not be reclassified to profit or loss 37 353.40 90.28
(ii) Income tax relating to items that will not be reclassified to profit or loss (88.94) (39.19)
B (i) Items that will be reclassified to profit or loss 0.17 0.22
(ii) Income tax relating to items that will be reclassified to profit or loss - -
(X) Total Other Comprehensive Income 264.63 51.31
(XI) Total Comprehensive Income (IX+X) (Comprising Profit and Other 28,389.57 17,429.73
Comprehensive Income for the year)
Profit attributable to:
Owners of the company 28,165.19 17,358.10
Non-controlling interest (40.25) 20.32
28,124.94 17,378.42
Other Comprehensive Income attributable to:
Owners of the company 264.63 51.31
Non-controlling interest - -
264.63 51.31
Total Comprehensive Income attributable to:
Owners of the company 28,429.82 17,409.41
Non-controlling interest (40.25) 20.32
28,389.57 17,429.73
(XII) Earnings per equity share (Face value J 10 each):
(1) Basic 45.70 28.17
(2) Diluted 45.70 28.17
Refer note 38 (8) (d) for calculation of EPS

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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

A. EQUITY SHARE CAPITAL
As at 31-03-2023
H in crore
Changes in
equity share
Balance as at Balance as at
Particulars capital during
01-04-2022 31-03-2023
the current
year
As at 31-03-2022
H in crore
Changes in
equity share
Balance as at Balance as at
Particulars capital during
01-04-2021 31-03-2022
the current
year
B. OTHER EQUITY
H in crore
Reserves and Surplus OCI -
Exchange
differences
OCI - in
Capital Remeasurement translating
Particulars Capital General Retained Total
Redemption of Defined the financial
reserve Reserve Earnings
reserve Benefits Plans statements
(net of Tax) of a
foreign
subsidiary
Balance as at 01.04.2022 1,202.96 1,566.57 17,641.59 17,451.80 (883.33) 0.72 36,980.31
Total Comprehensive Income - - - 28,165.19 264.46 0.17 28,429.82
for the year
Interim Dividend - - - (12,479.57) - - (12,479.57)
Final Dividend - - - (1,848.82) - - (1,848.82)
Addition during the year - 2.63 - - - - 2.63
Adjustments during the year - (1.40) - (22.80) 21.99 - (2.21)
Transfer to / from General - - 1,326.83 (1,326.83) - - -
reserve
Balance as at 31.03.2023 1,202.96 1,567.80 18,968.42 29,938.97 (596.88) 0.89 51,082.16
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

B. OTHER EQUITY (Contd..)
H in crore
Exchange
differences
OCI - in
reserve Reserve Earnings
reserve Benefits Plans statements
(net of Tax) of a
foreign
subsidiary
Balance as at 01.04.2021 1,202.96 1,565.45 16,779.18 11,740.96 (934.42) 0.50 30,354.63
Total Comprehensive Income - - - 17,358.10 51.09 0.22 17,409.41
for the year
Interim Dividend - - - (8,627.82) - - (8,627.82)
Final Dividend - - - (2,156.97) - - (2,156.97)
Addition during the year - 2.20 - - - - 2.20
Adjustments during the year - (1.08) - (0.06) - - (1.14)
Transfer to / from General - - 862.41 (862.41) - - -
reserve
Balance as at 31.03.2022 1,202.96 1,566.57 17,641.59 17,451.80 (883.33) 0.72 36,980.31
Refer Note 17 for dividend and the nature and purpose of Reserves and Surplus.

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STATEMENT OF CONSOLIDATED CASH FLOW H in crore

Ended 31-03-2023 Ended 31-03-2022
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax 38,000.81 23,616.28
Adjustments for :
Share of Joint Venture 8.14 8.59
Depreciation, amortisation and impairment expenses 4,675.27 4,428.67
Interest and dividend income (3,190.65) (1,425.00)
Finance Costs 684.31 541.49
(Profit)/Loss on sale of Property, Plant and Equipment (28.13) 15.48
Liability and provision written back (Net) (1,699.19) (1,186.15)
Allowance for trade Receivables 334.23 106.74
Other allowances and write off 233.30 77.59
Operating Profit before changes in working capital 42,827.20 29,944.55
Adjustment for :
Trade Receivables (2,027.03) 8,148.70
Inventories (1,079.00) 1,871.79
Loans and Advances and other assets (6,648.50) (4,187.99)
Financial and Other Liabilities 12,417.61 10,757.45
Trade Payables (54.35) 130.39
Cash Generated from Operation 45,435.93 46,664.89
Income Tax (Paid) (9,749.72) (5,558.12)
Net Cash Flow generated from Operating Activities (A) 35,686.21 41,106.77
CASH FLOW FROM INVESTING ACTIVITIES
Purchase of Property, Plant and Equipment (14,209.48) (11,679.27)
Sale proceeds from Property, Plant and Equipment 106.79 27.61
Addition in Exploration and Evaluation Asset (1,104.08) (344.43)
Proceeds/(Investment) in Bank Deposit (12,978.30) (12,085.78)
Proceeds/(Investment) in Mutual Fund, Shares etc. 2,744.54 (1,963.60)
Payment for Equity in Joint Venture (666.54) (767.65)
Interest from Investment 2,684.08 1,087.60
Interest / Dividend received from Mutual Fund - 11.01
Net Cash used in Investing Activities (B) (23,422.99) (25,714.51)
CASH FLOW FROM FINANCING ACTIVITIES
(Repayment)/Increase in Borrowings 805.15 (2,573.19)
Interest and Finance costs (138.22) (84.68)
Dividend paid on Equity shares (14,328.07) (10,783.37)
Net Cash used in Financing Activities (C) (13,661.14) (13,441.24)
Net Increase / (Decrease) in Cash and Cash equivalent (A+B+C) (1,397.92) 1,951.02
Cash and Cash equivalent as at the beginning of the year 7,063.30 5,112.28
Cash and Cash equivalent as at the end of the year 5,665.38 7,063.30
Reconciliation of Cash and Cash equivalents (Refer Note 14)
Cash and Cash equivalents (Net of bank Overdraft) 5,665.38 7,063.30
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STATEMENT OF CONSOLIDATED CASH FLOW H in crore

Ended 31-03-2023 Ended 31-03-2022
Components of Cash and Cash Equivalents
- in Deposit Accounts 2,148.66 2,837.43
- interest bearing (CLTD A/c Etc.) 2,148.26 1,951.55
- Non- interest bearing 623.11 1,396.16
(b) Bank Balances outside India 0.12 0.09
(c) ICDs with Primary Dealers 520.00 785.78
(d) Cheques, Drafts and Stamps in hand 0.09 0.02
(e) Cash in hand 0.01 0.02
(f) Bank Overdraft - (0.18)
(g) Otherse-procurement account/GeM account/Imprest balances 190.74 91.47
Total (Refer note 14 and note 18 for components of Cash and Cash 5,665.38 7,063.30
Equivalents)
1 The above statement of cash flow is prepared in accordance with the Indirect Method prescribed in Ind AS 7 - ‘Statement of
Cash flows.
2 The Group has spent H 501.87 crore (Refer note no. 29) on account of Corporate Social Responsibility (CSR) expenditure during
the year ended 31.03.2023 (Previous Year H 586.21 crore).

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Note: 1 The accounting policies are applied consistently
except where a newly issued accounting standard is
A. CORPORATE INFORMATION initially adopted or a revision to an existing accounting
standard requires a change in the accounting policy
Coal India Limited (CIL) (the “Company”) is a Maharatna
hitherto in use.
Company domiciled in India and limited by shares. The
shares of the Company are listed and traded on the National ii) Application of new and revised standards:
Stock Exchange of India Limited (NSE) and Bombay Stock
Exchange India Limited (BSE) in India. The address of the Effective April 01, 2022, the Group has adopted the
Company’s registered office is Coal Bhawan, Premises amendments vide Companies (Indian Accounting
No. 04 MAR, Plot No. -AF-III, Action Area-1A, New Town, Standard) Amendment Rules, 2022 notifying
Rajarhat, Kolkata- 700 156. amendment to existing Ind AS. These amendments
to the extent relevant to the Group's operation were
These consolidated financial statements comprise the relating to Ind AS 16 "Property, Plant and Equipment"
financial statements of the Company and its subsidiaries which clarifies that excess of net sale proceeds of
(referred to collectively as the ‘Group’) and the Group’s items produced over the cost of testing, if any, shall
interest in its joint ventures. not be recognised in the profit or loss but deducted
from the directly attributable costs considered as part
The Group is primarily involved in the mining and production
of cost of an item of property, plant, and equipment
of Coal and also operates in Coal washeries. Other ancillary
and Ind AS 37 "Provisions, Contingent Liabilities and
activities in which the Group is involved include mine
Contingent Assets" which specifies that the ‘cost of
planning, designing and related consultancy services, and
fulfilling’ a contract comprises the ‘costs that relate
generation of power and renewal energy.
directly to the contract’. Costs that relate directly to a
The major consumers of the company are the power contract can either be incremental costs of fulfilling that
and steel sectors. Consumers from other sectors include contract (examples would be direct labour, materials)
cement, fertilizers, brick kilns, etc... or an allocation of other costs that relate directly to
fulfilling contracts (an example would be the allocation
Coal India Limited has ten wholly-owned subsidiaries and of the depreciation charge for an item of property, plant
seven number of step down subsidiaries in India out of and equipment used in fulfilling the contract).
which seven subsidiaries are coal producing, one subsidiary
is engaged in mine planning, designing, and related There were other amendments in various standards
consultancy services and two subsidiaries are engaged in including Ind AS 101 "First-time Adoption of Indian
manufacturing solar value chain (ingot-wafer-cell module) Accounting Standards", Ind AS 103 "Business
and renewable energy business. The operations of the Combinations", Ind AS 109 "Financial Instruments",
Company are spread across 8 states in India. CIL also has and Ind AS 41 "Agriculture" which have not been listed
a fully owned mining company in Mozambique known as herein above since these are not relevant to the Group.
‘Coal India Africana Limitada’ which is yet to commence
Revision in these standards did not have any material
operations. The Company is also engaged in certain
impact on the profit/loss and earning per share for the
ventures through Joint Venture arrangements.
year.
The Consolidated financial statements for the year ended
iii) Recent accounting pronouncements
March 31, 2023, were approved for issue by the Board of
Directors of the company on May 07, 2023. On March 31, 2023, Ministry of Corporate Affairs (MCA)
has made certain amendments to existing Ind AS vide
B. Statement of Compliance and Recent Accounting
Companies (Indian Accounting Standard) Amendment
Pronouncements
Rules, 2023. These amendments to the extent
i) Statement of Compliance relevant to the Group's operation include amendment
to Ind AS 1 “Presentation of Financial Statements”
These consolidated financial statements have been which requires the entities to disclose their material
prepared in accordance with the Indian Accounting accounting policies rather than their significant
Standards (hereinafter referred to as the “Ind AS”) accounting policies, Ind AS 8 “Accounting Policies,
as notified under the Companies (Indian Accounting Changes in Accounting Estimates and Errors” which
Standards) Rules, 2015 (as amended) read with Section has introduced a definition of ‘accounting estimates’
133 of the Companies Act, 2013 (“the Act”). The Ind and include amendments to help entities distinguish
ASs issued, notified and made effective till the financial changes in accounting policies from changes
statements are authorized and have been considered for in accounting estimates . Further consequential
the purpose of preparation of these financial statements. amendments with respect to the concept of material
002-115 116-332 333-513

accounting policies have also been made in ", Ind AS Subsidiaries are consolidated from the date
107 "Financial Instruments: Disclosures" and Ind AS control over the subsidiary is acquired and they
34 “Interim Financial Reporting”. are discontinued from the date of cessation of
control.
There are other amendments in various standards
including Ind AS 101 "First-time Adoption of Indian ii. The Group combines the financial statements of
Accounting Standards", Ind AS 103 "Business the Holding and its subsidiaries based on a line-
Combinations, Ind AS 109 "Financial Instruments " Ind by-line consolidation by adding together the book
AS 115 “Revenue from Contracts with Customers”, value of like items of assets and liabilities, revenue
Ind AS 12 “Income Taxes” which has narrowed the and expenses as per the respective financial
scope of the initial recognition exemption so that it statements. Intra-group balances, intra-group
does not apply to transactions that give rise to equal transactions, and the unrealised profits on stocks
and offsetting temporary differences and Ind AS 102 arising out of intra-group transactions have been
“Share-based Payment” which have not been listed eliminated.
herein above since these are not relevant to the Group.
iii. The consolidated financial statements are
Even though the Group will evaluate the impact of prepared using uniform accounting policies for
above, none of these amendments as such are vital in similar material transactions and other events
nature and are not likely to have material impact on the in similar circumstances otherwise as stated
financial statements of the Group. elsewhere.
iv. The difference between the costs of investment

Note 2: SIGNIFICANT ACCOUNTING POLICIES in the subsidiaries, over the net assets at the
time of acquisition of shares in the subsidiaries is
2.1 Basis of preparation of financial statements
recognised in the consolidated financial statements
The Consolidated Financial Statements have been prepared as Goodwill or Capital reserve as the case may be.
under the historical cost convention on accrual basis The said goodwill is not amortised, however, it is
except certain financial instruments that are measured in tested for impairment at each balance sheet date,
terms of relevant Ind AS at amortized costs or fair value at and impairment loss, if any is recognised in the
the end of each reporting period. consolidated financial statements.
Historical cost convention is generally based on the fair v. Non-controlling interest's share of the net profit of
value of the consideration given in exchange for goods and subsidiaries for the year is identified and adjusted
services. against the revenue of the Group in order to arrive
at the net revenue attributable to the owners of the
The functional currency of the Group is determined as the Holding Company. The excess of loss for the year
currency of the primary economic environment in which over the non-controlling interest is adjusted in the
it operates. The Consolidated Financial Statements are owner's interest.
presented in Indian Rupees and all values are rounded off
to the ‘rupees in crore’ up to two decimal points. vi. Non-controlling interest's share of net assets
of subsidiaries is identified and presented in
2.2 Basis of consolidation the Consolidated Balance Sheet separate from
liabilities and the equity of the Holding Company's
2.2.1 Subsidiaries
shareholders.
i. Subsidiaries are entities over which the Group
vii. A change in the ownership interest of a subsidiary
has control and the Control is achieved when the
which does not result in a loss of control, is
group is exposed or has rights, to variable returns
accounted for as an equity transaction.
from its involvement with the investee and has the
ability to affect those returns through its: viii. If the Group loses control over a subsidiary,
it derecognizes the assets, liabilities, carrying
a. Power over the investee;
amount of any non-controlling interests and
b. Exposure or rights to variable returns from its the cumulative translation differences recorded
involvement with the investee; in equity. Any interest retained in the former
subsidiary is measured at fair value at the date
c. The ability to use its power over the investee the control is lost, with the resulting gain/ loss
to affect its returns. recognised in the statement of Profit & Loss.

Business Combination and Goodwill Joint Arrangements are classified as either joint
operations or joint ventures. The classification
The Group except for combination of group entities depends on the contractual rights and obligations of
which are under common control applies the acquisition each investor, rather than the legal structure of the joint
method in accounting for business combinations. arrangement.
The consideration transferred by the Group to obtain
control of a subsidiary is calculated as the sum of 2.2.4 Joint Operations
the acquisition-date fair values of assets transferred,
liabilities incurred and the equity interests issued by A joint operation is a joint arrangement whereby the
the Group, which includes the fair value of any asset parties that have joint control of the arrangement
or liability arising from a contingent consideration have rights to the assets, and obligations for the
arrangement. Acquisition costs are expensed as liabilities, relating to the arrangement. Joint control
incurred. Assets acquired and liabilities assumed are is the contractually agreed sharing of control of an
generally measured at their acquisition date fair values. arrangement, which exists only when decisions about
the relevant activities require unanimous consent of
In case of combination of entities under control, the parties sharing control.
business combination are accounted for under pooling
of interest method whereby the assets and liabilities are The group recognises its direct right to the assets,
combined at the carrying amount and no adjustments liabilities, revenues and expenses of joint operations
are made to reflect their fair values or recognise any and its share of any jointly held or incurred assets,
new assets or liabilities. liabilities, revenues and expenses. These have been
incorporated in the financial statements on line by line
After initial recognition, goodwill is measured at cost basis with similar items in the consolidated financial
less any accumulated impairment losses. For the statements or otherwise under the appropriate heads
purpose of impairment testing, goodwill acquired in a of accounts.
business combination is, from the combination date,
allocated to each of the Group’s cash-generating units 2.2.5 Joint ventures
that are expected to benefit from the combination,
i) A joint venture is a joint arrangement whereby
irrespective of whether other assets or liabilities of the
parties that have joint control of the arrangement
acquire are assigned to those units.
having rights to the net assets of the arrangement.
2.2.2 Associates Interests in joint ventures are initially recognised at
cost and thereafter accounted for using the equity
Associates are all entities over which the Company method.
has significant influence but no control or joint control.
This is generally the case where the Company holds ii) Investments in Joint venture are accounted for
between 20% and 50% of the voting rights. using the equity method of accounting, after
initially being recognized at cost, except when
Investments in associates are accounted for using the investment, or a portion thereof, is classified
the equity method of accounting, after initially being as held for sale, in which case it is accounted in
recognised at cost, except when the investment, or accordance with Ind AS 105.
a portion thereof, classified as held for sale, in which
case it is accounted in accordance with Ind AS 105. iii) The Group impairs its net investment in the joint
venture on the basis of objective evidence, When
The Group impairs its net investment in the associates the Group’s share of losses in a joint venture equals
on the basis of objective evidence. or exceeds its investment in the entity, including
any other unsecured long-term receivables, the
2.2.3 Joint arrangements Group does not recognise further losses, unless
it has incurred obligations or made payments on
Joint arrangements are those arrangements where the
behalf of the joint venture.
Group is having joint control with one or more other
parties. iv) Unrealised gains on transactions between the
Group and its joint ventures are eliminated to the
Joint control is the contractually agreed sharing of
extent of the Group’s interest in these entities.
control of the arrangement which exist only when
Unrealised losses on transactions between the
decisions about the relevant activities require the
Group and its joint ventures are also eliminated to
unanimous consent of the parties sharing control.
the extent of the Group’s interest in these entities
unless the transaction provides evidence of an
002-115 116-332 333-513

impairment of the asset transferred. Where the When the Group ceases to consolidate or equity
accounting policies of joint ventures are different account for an investment because of a loss of control,
from those of the Group, appropriate adjustments joint control or significant influence, any retained
are made for like transactions and events in similar interest in the entity is remeasured to its fair value with
circumstances to ensure conformity with the the change in carrying amount recognised in profit
policies adopted by the group. or loss. This fair value becomes the initial carrying
amount for the purposes of subsequently accounting
v) Any gain or loss on dilution arising on a reduced for the retained interest as an associate, joint venture
stake in the joint venture, but still retaining the joint or financial asset. In addition, any amounts previously
control, is recognized in the Statement of Profit recognised in other comprehensive income in respect
and Loss. of that entity are accounted for as if the Group had
directly disposed of the related assets or liabilities.
vi) When the investment ceases to be a joint venture
This may mean that amounts previously recognised in
and the retained interest is a financial asset, the
other comprehensive income are reclassified to profit
Group measures the retained interest at fair value
or loss.
with the change in carrying amount recognised in
the Statement of Profit and Loss. The fair value of If the ownership interest in a joint venture or an associate
the retained interest becomes the initial carrying is reduced but joint control or significant influence is
amount for the purpose of accounting for the retained, only a proportionate share of the amounts
retained interest as a financial asset. Any amounts previously recognised in other comprehensive income
previously recognised in other comprehensive are reclassified to profit or loss where appropriate.
income in respect of that joint venture are
reclassified to the Statement of Profit and Loss. 2.3 Current and Non-Current Classification
2.2.6 Equity Method The Company presents assets and liabilities in the Balance
Sheet based on current/ non-current classification. An
Under the equity method of accounting, the asset is treated as current by the Company when:
investments are initially recognised at cost and
adjusted thereafter for the post-acquisition changes in (a) it expects to realise the asset, or intends to sell or
the Group’s share of the net assets of the investee. consume it, in its normal operating cycle;
The Group’s share of the post-acquisition profits
or losses and other comprehensive income of the (b) it holds the asset primarily for the purpose of trading;
investee are included in the Statement of Profit and
(c) it expects to realise the asset within twelve months
Loss and Other Comprehensive Income of the Group.
after the reporting period; or
Dividends received or receivable from joint ventures
are recognised as a reduction in the carrying amount (d) the asset is cash or a cash equivalent (as defined in
of the investment. Ind AS 7) unless the asset is restricted from being
exchanged or used to settle a liability for at least twelve
When the Group’s share of losses in an equity-
months after the reporting period. All other assets are
accounted investment equals or exceeds its interest
classified as non-current.
in the entity, including any other unsecured long-term
receivables, the Group does not recognise further A liability is treated as current by the Company when:
losses, unless it has incurred obligations or made
payments on behalf of the other entity (a) it expects to settle the liability in its normal operating
cycle;
2.2.7 Changes in ownership interests
(b) it holds the liability primarily for the purpose of trading;
The Group treats transactions with non-controlling
interests that do not result in a loss of control as (c) the liability is due to be settled within twelve months
transactions with equity owners of the Group. A after the reporting period; or
change in ownership interest results in an adjustment
(d) it does not have an unconditional right to defer
between the carrying amounts of the controlling
settlement of the liability for at least twelve months
and non-controlling interests to reflect their relative
after the reporting period. Terms of a liability that
interests in the subsidiary. Any difference between the
could, at the option of the counterparty, result in its
amount of the adjustment to non-controlling interests
settlement by the issue of equity instruments do not
and any fair value of consideration paid or received is
affect its classification.
recognised within equity
All other liabilities are classified as non-current.

Having regard to the nature of the business being carried Group may offer the customer a price concession,
out by the group, the group has ascertained its operating discount, rebates, refunds, credits or be incentives,
cycle as twelve months for the purpose of current and non- performance bonuses, or similar items.
current classification of assets and liabilities.
Combination of contracts
2.4 Revenue recognition
The Group combines two or more contracts entered into at
Revenue from contracts with customers or near the same time with the same customer (or related
parties of the customer) and accounts for the contracts as
Revenue from contracts with customers is recognized when a single contract if one or more of the following criteria are
control of the goods or services are transferred and/or met:
products/services are delivered/ provided to the customers
at an amount that reflects the consideration to which the a) the contracts are negotiated as a package with a single
Group expects to be entitled in exchange for those goods commercial objective;
or services. The Group has generally concluded that it is the
principal in its revenue arrangements because it typically b) the amount of consideration to be paid in one contract
controls the goods or services before transferring them to depends on the price or performance of the other
the customer. contract; or
Revenue is measured based on the considerations c) the goods or services promised in the contracts
specified in a contract with a customer and excludes (or some goods or services promised in each of the
amounts collected on behalf of third parties. The revenue contracts) are relatable to a single performance
from sales is recognised when control over a product or obligation.
service has been transferred and /or products/services are
Contract modification
delivered/provided to the customers. The delivery occurs
when the product has been shipped or delivered to the The Group accounts for a contract modification as a
specific location as the case may be and the customer has separate contract if both of the following conditions are
either accepted the products in accordance with contract present:
or thecompany has sufficient evidence that all the criteria
for acceptance has been satisfied. Returns, discounts and a) the scope of the contract increases because of the
rebates collected, ifany, are deducted there from sales. addition of promised goods or services that are distinct
and
The principles in Ind AS 115 are applied using the following
five steps: b) the price of the contract increases by an amount of
consideration that reflects the Group’s stand-alone
Step 1: Identifying the contract: selling prices of the additional promised goods or
services and any appropriate adjustments to that price
The Group account for a contract with a customer only
depending upon the circumstances of the particular
when all of the following criteria are met:
contract.
a) the parties to the contract have approved the contract
Step 2 : Identifying performance obligations:
and are committed to perform their respective
obligations; At contract inception, the Group assesses obligation
b) the Group can identify each party’s rights regarding the towards the goods or services promised in a contract with
goods or services to be transferred; a customer and identify as a performance obligation each
promise to transfer to the customer either:
c) the Group can identify the payment terms for the
goods or services to be transferred; a) a good or service (or a bundle of goods or services)
that is distinct; or
d) the contract has commercial substance (i.e. the risk,
timing or amount of the Group’s future cash flows is b) a series of distinct goods or services that are
expected to change as a result of the contract); and substantially the same and that have the same pattern
e) it is probable that the Group will collect the of transfer to the customer.
consideration arising in exchange for the goods or
Step 3: Determining the transaction price
services that will be transferred to the customer.
The amount of consideration to which the Group will The Group consider the terms of the contract and its
be entitled may be less than the price stated in the customary business practices to determine the transaction
contract if the consideration is variable because the price. The transaction price is the amount of consideration
002-115 116-332 333-513

to which the Group expects to be entitled in exchange for Step 4 : Allocating the transaction price:
transferring promised goods or services to a customer,
excluding amounts collected on behalf of third parties. The The transaction price is allocated to each performance
consideration promised in a contract with a customer may obligation (or distinct good or service) equivalent to an
include fixed amounts, variable amounts, or both. amount that depicts the amount of consideration to which
the group expects to be entitled in exchange for transferring
When determining the transaction price, a Group consider the promised goods or services to the customer.
the effects of all of the following:
In order to allocate the transaction price to each
- Variable consideration; performance obligation on a relative stand-alone selling
- Constraining estimates of variable consideration; price basis, the stand-alone selling price at contract
inception is allocated to the distinct good or service
- The existence of significant financing component;
underlying each performance obligation in the contract and
- Non – cash consideration; the transaction price is determined in proportion to those
- Consideration payable to a customer. stand-alone selling prices.
An amount of consideration can vary because of discounts, Step 5: Recognizing revenue:

rebates, refunds, credits, price concessions, incentives,
performance bonuses, or other similar items. The promised The Group recognizes revenue when (or as) the Group
consideration can also vary if the Group’s entitlement to satisfies a performance obligation by transferring a
the consideration is contingent on the occurrence or non- promised good or service to a customer. A good or service
occurrence of a future event. is transferred when (or as) the customer obtains control of
that good or service.
In some contracts, penalties are specified. In such cases,
penalties are accounted for as per the substance of the The Group transfers control of a good or service over time
contract. Where the penalty is inherent in determination of and, therefore, satisfies a performance obligation and
transaction price, it forms part of variable consideration. recognizes revenue over time, if one of the following criteria
is met:
The Group includes in the transaction price some or all of
an amount of estimated variable consideration only to the a) the customer simultaneously receives and consumes
extent that it is highly probable that a significant reversal the benefits provided by the Group’s performance as
in the amount of cumulative revenue recognized will not the Group performs;
occur when the uncertainty associated with the variable
b) the Group’s performance creates or enhances an asset
consideration is subsequently resolved.
that the customer controls as the asset is created or
The Group does not adjust the promised amount of enhanced;
consideration for the effects of a significant financing
c) the Group’s performance does not create an asset
component if it expects, at contract inception, that the
with an alternative use to the Group and the Group
period between when it transfers a promised goods or
has an enforceable right to payment for performance
service to a customer and when the customer pays for that
completed to date.
good or service will be one year or less.
For each performance obligation satisfied over time, the
The Group recognizes a refund liability if the Group receives
Group recognizes revenue over time by measuring the
consideration from a customer and expects to refund some
progress towards complete satisfaction of that performance
or all of that consideration to the customer. A refund liability
obligation.
is measured at the amount of consideration received (or
receivable) for which the Group does not expect to be The Group applies a single method of measuring progress
entitled (i.e. amounts not included in the transaction price). for each performance obligation satisfied over time and
The refund liability (and corresponding change in the the Group applies that method consistently to similar
transaction price and, therefore, the contract liability) is performance obligations and in similar circumstances. At
updated at the end of each reporting period for changes in the end of each reporting period, the Group re-measure its
circumstances. progress towards complete satisfaction of a performance
obligation satisfied over time.
After the contract inception, the transaction price can
change for various reasons, including the resolution of Group applies output methods to recognize revenue on the
uncertain events or other changes in circumstances that basis of direct measurements of the value to the customer
change the amount of consideration to which the Group of the goods or services transferred to date relative to the
expects to be entitled in exchange for the promised goods remaining goods or services promised under the contract.
or services.

Output methods include methods such as surveys of Trade receivables:
performance completed to date, appraisals of results
achieved, milestones reached, time elapsed and units A receivable represents the Group’s right to an amount of
produced or units delivered. consideration that is unconditional (i.e., only the passage
of time is required before payment of the consideration is
As circumstances change over time, the Group updates due).
its measure of progress to reflect any changes in the
outcome of the performance obligation. Such changes Contract liabilities:
to the Group’s measure of progress is accounted for as a
A contract liability is the obligation to transfer goods or
change in accounting estimate in accordance with Ind AS
services to a customer for which the Group has received
8, Accounting Policies, Changes in Accounting Estimates
consideration (or an amount of consideration is due) from
and Errors.
the customer. If a customer pays consideration before
The Group recognizes revenue for a performance obligation the Group transfers goods or services to the customer, a
satisfied over time only if the Group can reasonably contract liability is recognized when the payment is made or
measure its progress towards complete satisfaction of due (whichever is earlier). Contract liabilities are recognized
the performance obligation. When (or as) a performance as revenue when the Group fulfils the obligations.
obligation is satisfied, the Group recognizes as revenue the
Interest
amount of the transaction price (which excludes estimates
of variable consideration that are constrained) that is Interest income from a financial asset is recognized when
allocated to that performance obligation. it is probable that the economic benefits will flow to the
Group and the amount of income can be measured reliably.
If a performance obligation is not satisfied over time, the
Interest income is accrued on a time basis, by reference
Group satisfies the performance obligation at a point in
to the principal outstanding and at the effective interest
time. To determine the point in time at which a customer
rate applicable, which is the rate that exactly discounts the
obtains control of a promised good or service and the Group
estimated future cash receipts through the expected life of
satisfies a performance obligation, the Group considers
the financial asset to that asset's net carrying amount on
indicators of the transfer of control, which include, but are
initial recognition.
not limited to, the following:
Dividend
a) the Group has a present right to payment for the good
or service; Dividend income from investments is recognised when the
rights to receive payment is established.
b) the customer has legal title to the good or service;
Other Claims
c) the Group has transferred physical possession of the
good or service; Revenue in respect of Other claims (including interest
on delayed realization from customers) are recognized
d) the customer has the significant risks and rewards of
only when there is reasonable certainty as to the ultimate
ownership of the good or service;
collection and the amount can be measured reliably.
e) the customer has accepted the good or service.
2.5 Grants from Government
When either party to a contract has performed, the Group
Government Grants are not recognised until there is
present the contract in the balance sheet as a contract
reasonable assurance that the Group will comply with the
asset or a contract liability, depending on the relationship
conditions attached to them and that there is reasonable
between the Group’s performance and the customer’s
certainty that grants will be received.
payment. The Group presents any unconditional rights to
consideration separately as a receivable. Government grants are recognised in Statement of Profit
and Loss on a systematic basis over the periods in which
Contract assets:
the Group recognises the related expenses or costs for
A contract asset is the right to consideration in exchange which the grants are intended to compensate.
for goods or services transferred to the customer. If the
Government Grants related to assets are presented in the
Group performs by transferring goods or services to a
balance sheet by setting up the grant as deferred income
customer before the customer pays consideration or before
and are recognised in Statement of Profit and Loss on
payment is due, a contract asset is recognized for the
systematic basis over the useful life of asset.
earned consideration.
002-115 116-332 333-513

Grants related to income (i.e. grant related to other than extension or a termination option. Lease liability and
assets) are presented as part of statement of profit and loss ROU asset are separately presented in the Balance
under the head ‘Other Income’. Sheet and lease payments are classified as financing
cash flows. Lease liability obligations is presented
A government grant/assistance that becomes receivable as separately under the head "Financial Liabilities".
compensation for expenses or losses already incurred or
for the purpose of giving immediate financial support to the Finance charges are recognised in finance costs in
Group with no future related costs, is recognised in profit or the Statement of Profit and Loss, unless the costs
loss of the period in which it becomes receivable. are included in the carrying amount of another asset
applying other applicable standards.
The Government grants or grants in the nature of promoter’s
contribution is recognised directly in “Capital Reserve” Right-of-use asset is depreciated over the useful life
which forms part of the “Shareholders fund”. of the asset, if the lease transfers ownership of the
asset to the lessee by the end of the lease term or
2.6 Leases if the cost of the right-to-use asset reflects that the
lessee will exercise a purchase option. Otherwise, the
A contract is, or contains, a lease if the contract conveys
lessee shall depreciate the right-to-use asset from the
the right to control the use of an identified asset for a period
commencement date to the earlier of the end of the
of time in exchange for consideration.
useful life of the right-of-use asset or the end of the
2.6.1 Group as a lessee lease term.
The Group assesses whether a contract contains 2.6.2 Group as a lessor

a lease, at inception of a contract. A contract is, or
Assets are given on lease either as finance lease or
contains, a lease if the contract conveys the right to
operating lease.
control the use of an identified asset for a period of
time in exchange for consideration. To assess whether Finance Lease: A lease is classified as finance lease
a contract conveys the right to control the use of an if it transfers substantially all the risks and rewards
identified asset, the Group assesses whether: (i) the incidental to ownership of an underlying asset. Initially,
contract involves the use of an identified asset (ii) the asset held under finance lease is recognised in Balance
Group has substantially all of the economic benefits Sheet and presented as a receivable at an amount
from use of the asset through the period of the lease equal to the net investment in the lease. Finance
and (iii) the Group has the right to direct the use of the income is recognised over the lease term, based on a
asset. pattern reflecting a constant periodic rate of return on
Group's net investment in the lease.
At the commencement date, a lessee shall recognise
a right-of-use asset at cost and a lease liability at the Operating Lease: A lease which is not classified
present value of the lease payments that are not paid as a finance lease is an operating lease. The Group
at that date for all leases unless the lease term is 12 recognises lease payments in case of assets given on
months or less or the underlying asset is of low value. operating leases as income on a straight line basis.
Subsequently, right-of-use asset is measured using 2.7 Non-current assets held for sale
cost model whereas, the lease liability is measured
by increasing the carrying amount to reflect interest The Group classifies non-current assets and (or disposal
on the lease liability, reducing the carrying amount to groups) as held for sale if their carrying amounts will be
reflect the lease payments made and re-measuring the recovered principally through a sale rather than through
carrying amount to reflect any reassessment or lease continuing use. Actions required to complete the sale
modifications should indicate that it is unlikely that significant changes
to the sale will be made or that the decision to sell will be
The lease liability is initially measured at amortized withdrawn. Management must be committed to the sale
cost at the present value of the future lease payments. expected to be completed within one year from the date of
The lease payments are discounted using the interest classification.
rate implicit in the lease or, if not readily determinable,
using the incremental borrowing rates of these leases. For these purposes, sale transactions include exchanges of
Lease liabilities are premeasured with a corresponding non-current assets for other non-current assets when the
adjustment to the related right of use asset if the Group exchange has commercial substance. The criteria for held
changes its assessment if whether it will exercise an for sale classification is regarded met only when the assets
or disposal group is available for immediate sale in its

present condition, subject only to terms that are usual and (c) the initial estimate of the costs of dismantling and
customary for sales of such assets (or disposal groups), its removing the item and restoring the site on which it
sale is highly probable; and it will genuinely be sold, not is located, the obligation for which the Group incurs
abandoned. The Group treats sale of the asset or disposal either when the item is acquired or as a consequence
group to be highly probable when: of having used the item during a particular period for
purposes other than to produce inventories during that
 The appropriate level of management is committed to period.
a plan to sell the asset (or disposal group),
(d) Interest on Borrowings utilized to finance the
 An active programme to locate a buyer and complete
construction of qualifying assets are capitalised as
the plan has been initiated
part of cost of the asset until such time that the asset
 The asset (or disposal group) is being actively marketed is ready for its intended use.
for sale at a price that is reasonable in relation to its
current fair value, Each part of an item of property, plant and equipment
with a cost that is significant in relation to the total cost
 The sale is expected to qualify for recognition as of the item is depreciated separately. However, significant
a completed sale within one year from the date of part(s) of an item of PPE having same useful life and
classification, and depreciation method are grouped together in determining
 Actions required to complete the plan indicate that it the depreciation charge.
is unlikely that significant changes to the plan will be
Costs of the day to-day servicing described as ‘repairs and
made or that the plan will be withdrawn.
maintenance’ are recognised in the statement of profit and
Non-current asset or disposal groups classified as held for loss in the period in which the same are incurred.
sale are measured at the lower of carrying amount and fair
Subsequent cost of replacing parts which are significant in
value less costs to sell.
relation to the total cost of an item of property, plant and
2.8 Property, Plant and Equipment (PPE) and equipment are recognised in the carrying amount of the item,
Depreciation if it is probable that future economic benefits associated with
the item will flow to the Group; and the cost of the item can
An item of PPE is recognized as an asset if it is probable be measured reliably. The carrying amount of those parts
that future economic benefits associated with the item will that are replaced is derecognised in accordance with the
flow to the Group and the cost of the item can be measured derecognition policy mentioned below.
reliably.
When major inspection is performed, its cost is recognised
PPE are initially measured at cost of acquisition/ in the carrying amount of the item of property, plant and
construction including decommissioning or restoration equipment as a replacement if it is probable that future
cost wherever required. Cost of land includes expenditures economic benefits associated with the item will flow to the
which are directly attributable to the acquisition of the Group; and the cost of the item can be measured reliably.
land like, rehabilitation expenses, resettlement cost and Any remaining carrying amount of the cost of the previous
compensation in lieu of employment incurred for concerned inspection (as distinct from physical parts) is derecognised.
displaced persons etc.
An item of Property, plant or equipment is derecognised
After recognition, an item of all other Property, plant and upon disposal or when no future economic benefits are
equipment are carried at its cost less any accumulated expected from the continuing use of assets. Any gain or
depreciation and any accumulated impairment losses loss arising on such derecognition of an item of property
under Cost Model. The cost of an item of property, plant plant and equipment is recognised in profit and Loss.
and equipment comprises:
Depreciation on property, plant and equipment, except
(a) its purchase price, including import duties and non- freehold land, is provided as per cost model on straight line
refundable purchase taxes, after deducting trade basis over the estimated useful lives of the asset as follows:
discounts and rebates.
Other Land Life of the project or lease
(b) any costs directly attributable to bringing the asset (incl. Leasehold Land) : term whichever is lower
to the location and condition necessary for it to be Building : 3-60 years
capable of operating in the manner intended by Roads : 3-10 years
management. Telecommunication : 3-9 years
Railway Sidings : 15 years
Plant and Equipment : 5-30 years
002-115 116-332 333-513

Computers and Laptops : 3 Years both surface and underground mines in accordance with
Office equipment : 3-6 years the guidelines from Ministry of Coal, Government of India.
Furniture and Fixtures : 10 years The Group estimates its obligation for Mine Closure, Site
Vehicles : 8-10 years Restoration and Decommissioning based upon detailed
calculation and technical assessment of the amount
Based on technical evaluation, the management believes
and timing of the future cash spending to perform the
that the useful lives given above best represent the period
required work. Mine Closure expenditure is provided as per
over which the management expects to use the asset.
approved Mine Closure Plan. The estimates of expenses
Hence the useful lives of the assets may be different from
are escalated for inflation, and then discounted at a
the useful lives as prescribed under Part C of Schedule II of
discount rate that reflects current market assessment of
the companies act, 2013.
the time value of money and the risks, such that the amount
The estimated useful life of the assets is reviewed at the of provision reflects the present value of the expenditures
end of each financial year. expected to be incurred to settle the obligation. The Group
records a corresponding asset associated with the liability
The residual value of Property, plant and equipment is for final reclamation and mine closure. The obligation and
considered as 5% of the original cost of the asset except corresponding assets are recognised in the period in which
for some items of assets such as Coal tub, winding ropes, the liability is incurred. The asset representing the total site
haulage ropes, stowing pipes & safety lamps etc. for which restoration cost (as estimated by Central Mine Planning
the useful life has been technically estimated to be one year and Design Institute Limited) as per mine closure plan is
with nil residual value. recognised as a separate item in PPE and amortised over
the balance project/mine life.
Depreciation on the assets added/disposed of during the
year is provided on pro-rata basis with reference to the The value of the provision is progressively increased over
month of addition / disposal. time as the effect of discounting unwinds; creating an
expense recognised as financial expenses.
Value of “Other Land” includes land acquired under Coal
Bearing Area (Acquisition & Development) (CBA) Act, 1957, Further, a specific escrow fund account is maintained for
Land Acquisition Act, 1894, Right to Fair Compensation this purpose as per the approved mine closure plan.
and Transparency in Land Acquisition, Rehabilitation and
Resettlement (RFCTLAAR) Act, 2013, Long term transfer of The progressive mine closure expenses incurred on year to
government land etc., which are amortised on the basis of year basis forming part of the total mine closure obligation
the balance life of the project; and in case of Leasehold is initially recognised as receivable from escrow account
land such amortisation is based on lease period or balance and thereafter adjusted with the obligation in the year in
life of the project whichever is lower. which the amount is withdrawn after the concurrence of the
certifying agency.
Assets that are fully depreciated and retired from active
use are disclosed separately as surveyed off assets at its 2.10 Exploration and Evaluation Assets
residual value under Property, Plant Equipment and are
Exploration and evaluation assets comprise costs which
tested for impairment.
are attributable to the search for coal and related resources,
Capital Expenses incurred by the Group on construction/ pending the determination of technical feasibility and the
development of certain assets which are essential for assessment of commercial viability of an identified resource
production, supply of goods or for the access to any which comprises inter alia the following:
existing Assets of the Group are recognised as Enabling
• acquisition of rights to explore
Assets under Property, Plant and Equipment.
• researching and analysing historical exploration data;
Transition to Ind AS
• gathering exploration data through topographical, geo
The Group elected to continue with the carrying value as
chemical and geo physical studies;
per cost model (for all of its property, plant and equipment
as recognised in the financial statements as at the date of • exploratory drilling, trenching and sampling;
transition to Ind ASs, measured as per the previous GAAP.
• determining and examining the volume and grade of
2.9 Mine Closure, Site Restoration and the resource;
Decommissioning Obligation
• surveying transportation and infrastructure
The Group’s obligation for land reclamation and requirements;
decommissioning of structures consists of spending at

• Conducting market and finance studies. in progress are reclassified as a component of property,
plant and equipment under the nomenclature “Other Mining
The above includes employee remuneration, cost of Infrastructure”. Other Mining Infrastructure are amortised
materials and fuel used, payments to contractors etc. from the year when the mine is brought under revenue in 20
years or working life of the project whichever is less.
As the intangible component represents an insignificant/
indistinguishable portion of the overall expected tangible 2.12 Intangible Assets
costs to be incurred and recouped from future exploitation,
these costs along with other capitalised exploration costs Intangible assets acquired separately are measured on initial
are recorded as exploration and evaluation asset. recognition at cost. Cost includes any directly attributable
expenses necessary to make the assets ready for its
Exploration and evaluation costs are capitalised on a intended use. After initial recognition, intangible assets
project by project basis pending determination of technical are carried at cost less any accumulated amortisation and
feasibility and commercial viability of the project and accumulated impairment losses.
disclosed as a separate line item under non-current assets.
They are subsequently measured at cost less accumulated Subsequent expenditure is recognized as an increase in the
impairment/provision. carrying amount of the asset when it is probable that future
economic benefits deriving from the cost incurred will flow
Once proved reserves are determined and development to the Group and the cost of the item can be measured
of mines/project is sanctioned, exploration and evaluation reliably.
assets are transferred to “Development” under capital work
in progress. However, if proved reserves are not determined, An item of Intangible asset is derecognized upon disposal
the exploration and evaluation asset is derecognised. or when no future economic benefits are expected from its
use or disposal. Gains or losses arising from derecognition
2.11 Development Expenditure of an intangible asset are measured as the difference
between the net disposal proceeds and the carrying
When proved reserves are determined and development
amount of the asset and are recognised in the Statement of
of mines/project is sanctioned, capitalised exploration
Profit and Loss when the asset is derecognised.
and evaluation cost is recognised as assets under
construction and disclosed as a component of capital work Internally generated intangibles, excluding capitalised
in progress under the head “Development”. All subsequent development costs, are not capitalised. Instead, the related
development expenditure is also capitalised. The expenditure is recognised in the statement of profit and loss
development expenditure capitalised is net of proceeds and other comprehensive income in the period in which the
from the sale of coal extracted during the development expenditure is incurred.
phase.
The useful lives of intangible assets are assessed as either
Commercial Operation finite or indefinite. Intangible assets with finite lives are
amortised over their useful economic lives and assessed
The project/mines are brought to revenue; when
for impairment whenever there is an indication that the
commercial readiness of a project/mine to yield production
intangible asset may be impaired. The amortisation period
on a sustainable basis is established either on the basis of
and the amortisation method for an intangible asset with
conditions specifically stated in the project report or on the
a finite useful life are reviewed at least at the end of each
basis of the following criteria:
reporting period. Changes in the expected useful life or
(a) From beginning of the financial year immediately after the expected pattern of consumption of future economic
the year in which the project achieves physical output benefits embodied in the asset are considered to modify
of 25% of rated capacity as per approved project the amortisation period or method, as appropriate, and
report, or are treated as changes in accounting estimates. The
amortisation expense on intangible assets with finite lives
(b) 2 years of touching of coal, or is recognised in the statement of profit and loss.
(c) From the beginning of the financial year in which the An intangible asset with an indefinite useful life is not amortised
value of production is more than total, expenses. but is tested for impairment at each reporting date.
Whichever event occurs first; Exploration and Evaluation assets attributable to blocks
identified for sale or proposed to be sold to outside
On being brought to revenue, the assets under capital work
agencies (i.e. for blocks not earmarked for CIL) are however,
classified as Intangible Assets and tested for impairment.
002-115 116-332 333-513

Expenditure on research is charged to expenditure as and 2.15.1 Financial assets
when incurred. Expenditure on development is capitalized
only if the expenditure can be measured reliably, the product 2.15.1 Initial recognition and measurement
or process is technically and commercially feasible, future
All financial assets are recognised initially at fair
economic benefits are probable and the Group intends to
value, in the case of financial assets not recorded
& has sufficient resources to complete development and to
at fair value through profit or loss, plus transaction
use or sell the asset.
costs that are attributable to the acquisition of
2.13 Impairment of Assets (other than financial the financial asset. Purchases or sales of financial
assets) assets that require delivery of assets within a time
frame established by regulation or convention
The Group assesses at the end of each reporting period in the market place (regular way trades) are
whether there is any indication that an asset may be recognised on the trade date, i.e., the date that
impaired. If any such indication exists, the Group estimates the Group commits to purchase or sell the asset.
the recoverable amount of the asset. An asset’s recoverable However, trade receivables that do not contain a
amount is the higher of the asset’s or cash-generating unit’s significant financing component are measured at
value in use and its fair value less costs of disposal, and is transaction price.
determined for an individual asset, unless the asset does not
generate cash inflows that are largely independent of those 2.15.2 Subsequent measurement
from other assets or groups of assets, in which case the
For purposes of subsequent measurement,
recoverable amount is determined for the cash-generating
financial assets are classified in four categories:
unit to which the asset belongs. Group considers individual
mines as separate cash generating units for the purpose of • Debt instruments at amortised cost
test of impairment.
• Debt instruments at fair value through other
If the recoverable amount of an asset is estimated to be less comprehensive income (FVTOCI)
than its carrying amount, the carrying amount of the asset
is reduced to its recoverable amount and the impairment • Debt instruments, derivatives and equity
loss is recognised in the Statement of Profit and Loss. instruments at fair value through profit or loss
(FVTPL)
2.14 Investment Property
• Equity instruments measured at fair value
Property (land or a building or part of a building or both) through other comprehensive income
held to earn rentals or for capital appreciation or both, (FVTOCI)
rather than for, use in the production or supply of goods
or services or for administrative purposes; or sale in the 2.15.2.1 Debt instruments at amortised cost
ordinary course of businesses are classified as investment
A ‘debt instrument’ is measured at the
property.
amortised cost if both the following conditions
Investment property is measured initially at its cost, are met:
including related transaction costs and where applicable
a) The asset is held within a business model
borrowing costs.
whose objective is to hold assets for
Investment properties are depreciated using the straight- collecting contractual cash flows, and
line method over their estimated useful lives.
b) Contractual terms of the asset give rise
2.15 Financial Instruments on specified dates to cash flows that
are solely payments of principal and
A financial instrument is any contract that gives rise to a interest (SPPI) on the principal amount
financial asset of one entity and a financial liability or equity outstanding.
instrument of another entity.
After initial measurement, such financial
assets are subsequently measured at
amortised cost using the effective interest rate

(EIR) method. Amortised cost is calculated by 2.15.2.4 Equity investments in subsidiaries,
taking into account any discount or premium associates and Joint Ventures
on acquisition and fees or costs that are an
integral part of the EIR. The EIR amortisation In accordance of Ind AS 101 (First time
is included in finance income in the profit or adoption of Ind AS), the carrying amount of
loss. The losses arising from impairment are these investments as per previous GAAP as
recognised in the profit or loss. on the date of transition is considered to be
the deemed cost. Subsequently Investment
2.15.2.2 Debt instrument at FVTOCI in subsidiaries, associates and joint ventures
are measured at cost.
A ‘debt instrument’ is classified as at the
FVTOCI if both of the following criteria are In case of consolidated financial statement,
met: Equity investments in associates and joint
ventures are accounted as per equity method
a) The objective of the business model is as prescribed in para 10 of Ind AS 28.
achieved both by collecting contractual
cash flows and selling the financial 2.15.2.5 Other Equity Investment
assets, and
All other equity investments in scope of Ind
b) The asset’s contractual cash flows AS 109 are measured at fair value through
represent SPPI. profit or loss.
Debt instruments included within the FVTOCI The Group may make an irrevocable election
category are measured initially as well as at to present in other comprehensive income
each reporting date at fair value. Fair value subsequent changes in the fair value. The
movements are recognized in the other Group makes such election on an instrument
comprehensive income (OCI). However, the by-instrument basis. The classification is
Group recognizes interest income, impairment made on initial recognition and is irrevocable.
losses & reversals and foreign exchange gain
or loss in the P&L. On derecognition of the All fair value changes of an equity instrument
asset, cumulative gain or loss previously classified at FVTOCI, are recognized in OCI.
recognised in OCI is reclassified from the There is no subsequent reclassification of
equity to P&L. Interest earned whilst holding fair value gains and losses to the Statement
FVTOCI debt instrument is reported as of Profit and Loss. However, the Group may
interest income using the EIR method. transfer the cumulative gain or loss within
equity. Dividends from such investments are
2.15.2.3 Debt instrument at FVTPL recognised in the Statement of Profit and
Loss as “other income” when the Group’s
FVTPL is a residual category for debt right to receive payments is established.
instruments. Any debt instrument, which does
not meet the criteria for categorization as at Equity instruments included within the FVTPL
amortized cost or as FVTOCI, is classified as category are measured at fair value with all
at FVTPL. changes recognized in the P&L.
In addition, the Group may elect to designate 2.15.2.6 Derecognition

a debt instrument, which otherwise meets
amortized cost or FVTOCI criteria, as at A financial asset (or, where applicable, a part
FVTPL. However, such election is allowed of a financial asset or part of a group of similar
only if doing so reduces or eliminates a financial assets) is primarily derecognised (i.e.
measurement or recognition inconsistency removed from the balance sheet) when:
(referred to as ‘accounting mismatch’).
• The rights to receive cash flows from the
The Group has not designated any debt
asset have expired, or
instrument as at FVTPL.
• The Group has transferred its rights
Debt instruments included within the FVTPL
to receive cash flows from the asset
or has assumed an obligation to pay
changes recognized in the P&L.
the received cash flows in full without
material delay to a third party under a
002-115 116-332 333-513

‘pass-through’ arrangement; and either • All lease receivables resulting from
(a) the Group has transferred substantially transactions within the scope of Ind AS
all the risks and rewards of the asset, or 116
(b) the Group has neither transferred nor
retained substantially all the risks and The application of simplified approach does
rewards of the asset, but has transferred not require the Group to track changes in
control of the asset. credit risk. Rather, it recognises impairment
loss allowance based on lifetime ECLs at
When the Group has transferred its rights to each reporting date, right from its initial
receive cash flows from an asset or has entered recognition.
into a pass-through arrangement, it evaluates
if and to what extent it has retained the risks 2.15.3 Financial liabilities
and rewards of ownership. When it has neither
2.15.3.1 Initial recognition and measurement
transferred nor retained substantially all of the
risks and rewards of the asset, nor transferred The Group’s financial liabilities include trade
control of the asset, the Group continues to and other payables, loans and borrowings
recognise the transferred asset to the extent including bank overdrafts.
of the Group’s continuing involvement. In that
case, the Group also recognises an associated All financial liabilities are recognised initially
liability. The transferred asset and the at fair value and, in the case of loans and
associated liability are measured on a basis borrowings and payables, net of directly
that reflects the rights and obligations that the attributable transaction costs.
Group has retained. Continuing involvement
2.15.3.2 Subsequent measurement
that takes the form of a guarantee over the
transferred asset is measured at the lower of The measurement of financial liabilities
the original carrying amount of the asset and depends on their classification, as described
the maximum amount of consideration that the below:
Group could be required to repay.
2.15.3.3 Financial liabilities at fair value through
2.15.2.7 Impairment of financial assets (other profit or loss
than fair value)
Financial liabilities at fair value through profit
In accordance with Ind AS 109, the Group or loss include financial liabilities held for
applies expected credit loss (ECL) model for trading and financial liabilities designated
measurement and recognition of impairment upon initial recognition as at fair value through
loss on the following financial assets and profit or loss. Financial liabilities are classified
credit risk exposure: as held for trading if they are incurred for the
purpose of repurchasing in the near term. This
a) Financial assets that are debt instruments,
category also includes derivative financial
and are measured at amortised cost e.g.,
instruments entered into by the Group that
loans, debt securities, deposits, trade
are not designated as hedging instruments in
receivables and bank balance
hedge relationships as defined by Ind AS 109.
b) Financial assets that are debt instruments Separated embedded derivatives are also
and are measured as at FVTOCI classified as held for trading unless they are
designated as effective hedging instruments.
c) Lease receivables under Ind AS 116
Gains or losses on liabilities held for trading
d) Trade receivables or any contractual right are recognised in the profit or loss.
to receive cash or another financial asset
that result from transactions that are 2.15.3.4 Financial liabilities at amortised cost
within the scope of Ind AS 115.
After initial recognition, these are subsequently
The Group follows ‘simplified approach’ for measured at amortised cost using the
recognition of impairment loss allowance on: effective interest rate method. Gains and
losses are recognised in profit or loss when
• Trade receivables or contract revenue the liabilities are derecognised as well as
receivables; and through the effective interest rate amortisation

process. Amortised cost is calculated by 2.15.4 Reclassification of financial assets
taking into account any discount or premium
on acquisition and fees or costs that are an The Group determines classification of financial
integral part of the effective interest rate. The assets and liabilities on initial recognition. After
effective interest rate amortisation is included initial recognition, no reclassification is made for
as finance costs in the statement of profit and financial assets which are equity instruments and
loss. financial liabilities. For financial assets which are
debt instruments, a reclassification is made only
2.15.3.5 Derecognition if there is a change in the business model for
managing those assets. Changes to the business
A financial liability is derecognised when the model are expected to be infrequent. The
obligation under the liability is discharged Group’s senior management determines change
or cancelled or expires. When an existing in the business model as a result of external or
financial liability is replaced by another from internal changes which are significant to the
the same lender on substantially different Group’s operations. Such changes are evident to
terms, or the terms of an existing liability are external parties. A change in the business model
substantially modified, such an exchange or occurs when the Group either begins or ceases
modification is treated as the derecognition to perform an activity that is significant to its
of the original liability and the recognition operations. If Group reclassifies financial assets, it
of a new liability. The difference between applies the reclassification prospectively from the
the carrying amount of a financial liability reclassification date which is the first day of the
(or part of a financial liability) extinguished immediately next reporting period following the
or transferred to another party and the change in business model. The Group does not
consideration paid, including any non-cash restate any previously recognised gains, losses
assets transferred or liabilities assumed, shall (including impairment gains or losses) or interest.
be recognised in profit or loss.
The following table shows various reclassification and how they are accounted for
Original Revised
Accounting treatment
classification classification
Amortised cost FVTPL Fair value is measured at reclassification date. Difference between previous
amortized cost and fair value is recognised in P&L.
FVTPL Amortised Cost Fair value at reclassification date becomes its new gross carrying amount. EIR
is calculated based on the new gross carrying amount.
Amortised cost FVTOCI Fair value is measured at reclassification date. Difference between previous
amortised cost and fair value is recognised in OCI. No change in EIR due to
reclassification.
FVTOCI Amortised cost Fair value at reclassification date becomes its new amortised cost carrying
amount. However, cumulative gain or loss in OCI is adjusted against fair value.
Consequently, the asset is measured as if it had always been measured at
amortised cost.
FVTPL FVTOCI Fair value at reclassification date becomes its new carrying amount. No other
adjustment is required.
FVTOCI FVTPL Assets continue to be measured at fair value. Cumulative gain or loss
previously recognized in OCI is reclassified to P&L at the reclassification date.
002-115 116-332 333-513

2.15.5 Offsetting of financial instruments capitalised as part of the cost of related asset up to the
date when the qualifying asset is ready for its intended use.
Financial assets and financial liabilities are offset
and the net amount is reported in the consolidated 2.17 Taxation
balance sheet if there is a currently enforceable
legal right to offset the recognised amounts and Income tax expense represents the sum of the tax currently
there is an intention to settle on a net basis, payable and deferred tax.
to realise the assets and settle the liabilities
Current tax is the amount of income taxes payable
simultaneously.
(recoverable) in respect of the taxable profit (tax loss) for
2.15.6 Cash and Cash equivalents a period. Taxable profit differs from “profit before income
tax” as reported in the statement of profit and loss and
Cash and cash equivalent in the balance sheet other comprehensive income because it excludes items of
comprise cash at banks and on hand and short- income or expense that are taxable or deductible in other
term deposits with an original maturity of three years and it further excludes items that are never taxable or
months or less, which are subject to an insignificant deductible. The Group’s liability for current tax is calculated
risk of changes in value. For the purpose of the using tax rates that have been enacted or substantively
consolidated statement of cash flows, cash and enacted by the end of the reporting period.
cash equivalents consist of cash and short-term
deposits, as defined above, net of outstanding Deferred tax liabilities are generally recognised for all taxable
bank overdrafts as they are considered an integral temporary differences. Deferred tax assets are generally
part of the Group’s cash management. recognised for all deductible temporary difference to the
extent that it is probable that taxable profits will be available
2.16. Borrowing Costs against which those deductible temporary differences can
be utilised. Such assets and liabilities are not recognised if
Borrowing costs are expensed as and when incurred except the temporary difference arises from goodwill or from the
where they are directly attributable to the acquisition, initial recognition (other than in a business combination)
construction or production of qualifying assets i.e. the of other assets and liabilities in a transaction that affects
assets that necessarily takes substantial period of time neither the taxable profit nor the accounting profit.
to get ready for its intended use, in which case they are

Deferred tax liabilities are recognised for taxable temporary of the annual reporting period in which the employees
differences associated with investments in subsidiaries and render the related service.
associates, except where the Group is able to control the
reversal of the temporary difference and it is probable that All short-term employee benefits are recognized in
the temporary difference will not reverse in the foreseeable the period in which the services are rendered by
future. Deferred tax assets arising from deductible employees.
temporary differences associated with such investments
2.18.2 Post-employment benefits and other long
and interests are only recognised to the extent that it is
term employee benefits
probable that there will be sufficient taxable profits against
which to utilise the benefits of the temporary differences. 2.18.2.1 Defined contributions plans
The carrying amount of deferred tax assets is reviewed at A defined contribution plan is a post-employment
the end of each reporting period and reduced to the extent benefit plan under which the Group pays
that it is no longer probable that sufficient taxable profits will fixed contribution into fund maintained by a
be available to allow all or part of the asset to be recovered. separate body and the Group will have no
Unrecognised deferred tax assets are reassessed at the legal or constructive obligation to pay further
end of each reporting year and are recognised to the extent amounts. Obligations for contributions to defined
that it has become probable that sufficient taxable profit contribution plans are recognised as an employee
will be available to allow all or part of the deferred tax asset benefit expense in the statement of profit and loss
to be recovered. in the periods during which services are rendered
by employees.
Deferred tax assets and liabilities are measured at the tax
rates that are expected to apply in the period in which the 2.18.2.2 Defined benefits plans
liability is settled or the asset is realised, based on tax rate
(and tax laws) that have been enacted or substantively A defined benefit plan is a post-employment
enacted by the end of the reporting period. benefit plan other than a defined contribution
plan. The Group’s net obligation in respect of
The measurement of deferred tax liabilities and assets defined benefit plans is calculated by estimating
reflects the tax consequences that would follow from the the amount of future benefit that employees have
manner in which the Group expects, at the end of the earned in return of their service in the current
reporting period, to recover or settle the carrying amount of and prior periods. The benefit is discounted to
its assets and liabilities. determine its present value and reduced by the
fair value of plan assets, if any. The discount
Current and deferred tax are recognised in profit or loss,
rate is based on the prevailing market yields of
except when they relate to items that are recognised in other
Indian Government securities as at the reporting
comprehensive income or directly in equity, in which case,
date that have maturity dates approximating the
the current and deferred tax are also recognised in other
terms of the Group’s obligations and that are
comprehensive income or directly in equity respectively.
denominated in the same currency in which the
Where current tax or deferred tax arises from the initial
benefits are expected to be paid.
accounting for a business combination, the tax effect is
included in the accounting for the business combination. The application of actuarial valuation involves
making assumptions about discount rate,
Deferred income tax assets and liabilities are offset when
expected rates of return on assets, future salary
there is a legally enforceable right to offset current tax
increases, mortality rates etc. Due to the long term
assets against current tax liabilities, and when the deferred
nature of these plans, such estimates are subject to
income tax assets and liabilities relate to income taxes
uncertainties. The calculation is performed at each
levied by the same taxation authority on either the taxable
balance sheet by an actuary using the projected
entity or different taxable entities where there is an intention
unit credit method. When the calculation results in
to settle the balances on a net basis.
to the benefit to the Group, the recognised asset
2.18 Employee Benefits is limited to the present value of the economic
benefits available in the form of any future refunds
2.18.1 Short-term Benefits from the plan or reduction in future contributions
to the plan. An economic benefit is available to the
Short-term employee benefits are employee benefits Group if it is realisable during the life of the plan, or
(other than termination benefits) that are expected to on settlement of plan liabilities.
be settled wholly before twelve months after the end
002-115 116-332 333-513

Re-measurement of the net defined benefit translated on initial recognition during the period or in
liability, which comprise actuarial gain and previous financial statements are recognised in statement
losses considering the return on plan assets of profit and loss in the period in which they arise.
(excluding interest) and the effects of the assets
ceiling (if any, excluding interest) are recognised Non-monetary items denominated in foreign currency are
immediately in the other comprehensive income. valued at the exchange rates prevailing on the date of
The Group determines the net interest expense transactions.
(income) on the net defined benefit liability (asset)
2.20 Stripping Activity Expense/Adjustment
for the period by applying the discount rate used
to measure the defined benefit obligation at In case of opencast mining, the mine waste materials
the beginning of the annual period to the then (“overburden”) which consists of soil and rock on the top
net defined benefit liability (asset), taking into of coal seam is required to be removed to get access to
account any changes in the net defined benefit the coal and its extraction. This waste removal activity is
liability (asset) during the period as a result of known as ‘stripping’. In opencast mines, the Group has to
contributions and benefit payments. Net interest incur such expenses over the life of the mine (as technically
expense and other expenses related to defined estimated).
benefit plans are recognised in profit and loss.
Therefore, as a policy, in the mines with rated capacity of
When the benefits of the plan are improved, the one million tonnes per annum and above, cost of Stripping
portion of the increased benefit relating to past is charged on technically evaluated average stripping ratio
service by employees is recognised as expense (OB: COAL) at each mine with due adjustment for stripping
immediately in the statement of profit and loss. activity asset and ratio-variance account after the mines
are brought to revenue.
2.18.3 Other long-term employee benefits
Net of balances of stripping activity asset and ratio variance
Other long-term employee benefits are all employee
at the Balance Sheet date is shown as Stripping Activity
benefits other than short-term employee benefits,
Adjustment under the head Non - Current Provisions /
post-employment benefits and termination benefits.
Other Non-Current Assets as the case may be.
Other long-term employee benefits include items which
The reported quantity of overburden as per record is
are not expected to be settled wholly before twelve
considered in calculating the ratio for OBR accounting
months after the end of the annual reporting period in
where the variance between reported quantity and
which the employees render the related service.
measured quantity is within the permissible limits, as
For other long-term employee benefits, net total of the detailed hereunder: -
following amounts is recognized in the statement of
Annual Quantum of OBR Of the Permissible limits
profit or loss:
Mine of variance (%)
(a) Service cost Less than 1 Mill. CUM +/- 5%
Between 1 and 5 Mill. CUM +/- 3%
(b) Net interest on the net defined benefit liability More than 5 Mill. CUM +/- 2%
(asset)
However, where the variance is beyond the permissible
(c) Re-measurements of the net defined benefit limits as above, the measured quantity is considered.
liability (asset)
In case of mines with rated capacity of less than one million
2.19 Foreign Currency tonne, the above policy is not applied and actual cost of
stripping activity incurred during the year is recognised in
Transactions in foreign currencies are converted into the Statement of Profit and Loss.
reported currency of the Group using the exchange rate
prevailing at the transaction date. Monetary assets and 2.21 Inventories
liabilities denominated in foreign currencies outstanding
at the end of the reporting period are translated at the 2.21.1 Stock of Coal
exchange rates prevailing as at the end of reporting period.
Inventories of coal/coke are stated at lower of cost
Exchange differences arising on the settlement of monetary
and net realisable value. Cost of inventories are
assets and liabilities or on translating monetary assets and
calculated using the Weighted Average method. Net
liabilities at rates different from those at which they were
realisable value represents the estimated selling price

of inventories less all estimated costs of completion of money is material, provisions are stated at the present
and costs necessary to make the sale. value of the expenditure expected to settle the obligation.
Book stock of coal is considered in the accounts All provisions are reviewed at each balance sheet date and
where the variance between book stock and measured adjusted to reflect the current best estimate.
stock is up to +/- 5% and in cases where the variance
is beyond +/- 5% the measured stock is considered. Where it is not probable that an outflow of economic benefits
Such stock are valued at net realisable value or cost will be required, or the amount cannot be estimated reliably,
whichever is lower. Coke is considered as a part of the obligation is disclosed as a contingent liability, unless
stock of coal. the probability of outflow of economic benefits is remote.
Possible obligations, whose existence will only be confirmed
Coal & coke-fines are valued at lower of cost or net by the occurrence or non-occurrence of one or more
realisable value and considered as a part of stock of future uncertain events not wholly within the control of the
coal. Group, are also disclosed as contingent liabilities unless the
probability of outflow of economic benefits is remote.
Slurry (coking/semi-coking), middling of washeries
and by products are valued at net realisable value and Contingent assets are possible assets that arise from past
considered as a part of stock of coal. events and whose existence will be confirmed only by the
occurrence or non-occurrence of one or more uncertain
2.21.2 Stores and Spares future events not wholly within the control of the Group.
Contingent assets are disclosed in the financial statements
The Stock of stores and spare parts (which also
when inflow of economic benefits is probable on the
includes loose tools) at central and area stores are
basis of judgment of management. These are assessed
considered as per balances appearing in priced stores
continually to ensure that developments are appropriately
ledger and are valued at cost calculated on the basis
reflected in the financial statements.
of weighted average method. The inventory of stores
& spare parts lying at collieries / sub-stores / drilling 2.23 Earnings per share
camps/ consuming centres are considered at the
year-end only as per physically verified stores and are Basic earnings per share are computed by dividing the net
valued at cost. profit after tax by the weighted average number of equity
shares outstanding during the period. Diluted earnings per
Provisions are made at the rate of 100% for shares is computed by dividing the profit after tax by the
unserviceable, damaged and obsolete stores and weighted average number of equity shares considered for
spares and at the rate of 50% for stores & spares not deriving basic earnings per shares and also the weighted
moved for 5 years. average number of equity shares that could have been
issued upon conversion of all dilutive potential equity
2.21.3 Other Inventories
shares.
Workshop jobs including work-in-progress are valued
2.24 Judgements, Estimates and Assumptions
at cost. Stock of press jobs (including work in progress)
and stationary at printing press and medicines at The preparation of the financial statements in conformity
central hospital are valued at cost. with Ind AS requires management to make estimates,
judgements and assumptions that affect the application
However, Stock of stationery (other than lying at
of accounting policies and the reported amounts of assets
printing press), bricks, sand, medicine (except at
and liabilities, the disclosures of contingent assets and
Central Hospitals), aircraft spares and scraps are not
liabilities at the date of financial statements and the amount
considered in inventory considering their value not
of revenue and expenses during the reported period.
being significant.
Application of accounting policies involving complex and
2.22 Provisions, Contingent Liabilities and Contingent subjective judgements and the use of assumptions in these
Assets financial statements have been disclosed. Accounting
estimates could change from period to period. Actual results
Provisions are recognized when the Group has a present could differ from those estimates. Estimates and underlying
obligation (legal or constructive) as a result of a past event, assumptions are reviewed on an ongoing basis. Revisions to
and it is probable that an outflow of economic benefits will be accounting estimate are recognised in the period in which
required to settle the obligation and a reliable estimate of the the estimates are revised and, if material, their effects are
amount of the obligation can be made. Where the time value disclosed in the notes to the financial statements.
002-115 116-332 333-513

2.24.1 Judgements accountimg Standard and accounting policies
and practies as stated in above paragraph.
In the process of applying the Group’s accounting
policies, management has made the following The Group operates in the mining sector (a
judgements, which have the most significant effect on sector where the exploration, evaluation,
the amounts recognised in the financial statements: development production phases are based
on the varied topographical and geomining
2.24.1.1 Formulation of Accounting Policies terrain spread over the lease period running
over decades and prone to constant
Accounting policies are formulated in a manner
changes), the accounting policies whereof
that result in financial statements containing
have evolved based on specific industry
relevant and reliable information about the
practices supported by research committees
transactions, other events and conditions to which
and approved by the various regulators
they apply. Those policies need not be applied
owing to its consistent application over
when the effect of applying them is immaterial.
the last several decades. In the absence of
In the absence of an Ind AS that specifically specific accounting literature, guidance and
applies to a transaction, other event or condition, standards in certain specific areas which
management has used its judgement in developing are in the process of evolution, he Group
and applying an accounting policy that results in continues to strive to develop accounting
information that is: policies in line with the development of
accounting literature and any development
a) relevant to the economic decision-making therein shall be accounted for prospectively
needs of users and as per the procedure laid down above more
particularly in Ind AS 8.
b) reliable in that financial statements: and
2.24.1.2 Materiality
(i) represent faithfully the financial position,
financial performance and cash flows of the Ind AS applies to items which are material.
Group; (ii) reflect the economic substance of Management uses judgement in deciding whether
transactions, other events and conditions, individual items or groups of item are material in
and not merely the legal form; (iii) are neutral, the financial statements. Materiality is judged by
i.e. free from bias; (iv) are prudent; and (v) reference to the nature or magnitude or both of
arecomplete in all material respects on a the item. The deciding factor is whether omitting
consistent basis or misstating or obscuring an information could
individually or in combination with other information
In making the judgement management refers
influence decisions that primary users make on the
to, and considers the applicability of, the
basis of the financial statements. Management also
following sources in descending order:
uses judgement of materiality for determining the
(a) the requirements in Ind ASs dealing with compliance requirement of the Ind AS. Further, the
similar and related issues; and Group may also be required to present separately
immaterial items when required by law.
(b) the definitions, recognition criteria and
measurement concepts for assets, With effect from 01.04.2019 Errors/omissions
liabilities, income and expenses in the discovered in the current year relating to prior
Framework. periods are treated as immaterial and adjusted
during the current year, if all such errors and
In making the judgement, management omissions in aggregate does not exceed 1% of
considers the most recent pronouncements total revenue from Operation (net of statutory
of International Accounting Standards Board levies) as per the last audited financial statement
and in absence thereof those of the other of the Group.
standard-setting bodies that use a similar
conceptual framework to develop accounting 2.24.1.3 Operating lease
standards, other accounting literature and
Group has entered into lease agreements. The
accepted industry practices, to the extent
Group has determined, based on an evaluation
that these do not conflict with the Indian

of the terms and conditions of the arrangements, as the expected future cash-inflows and the
such as the lease term not constituting a major part growth rate used for extrapolation purposes.
of the economic life of the commercial property These estimates are most relevant to other
and the fair value of the asset, that it retains all mining infrastructures. The key assumptions
the significant risks and rewards of ownership of used to determine the recoverable amount for
these properties and accounts for the contracts as the different CGUs, are disclosed and further
operating leases. explained in respective notes.
2.24.2 Estimates and assumptions 2.24.2.2 Taxes
The key assumptions concerning the future and Deferred tax assets are recognised for unused
tax losses to the extent that it is probable
other key sources of estimation uncertainty at the
that taxable profit will be available against
reporting date, that have a significant risk of causing
which the losses can be utilised. Significant
a material adjustment to the carrying amounts of
management judgement is required to
assets and liabilities within the next financial year, are
determine the amount of deferred tax assets
described below. The Group based its assumptions
that can be recognised, based upon the likely
and estimates on parameters available when the
timing and the level of future taxable profits
consolidated financial statements were prepared. together with future tax planning strategies.
Existing circumstances and assumptions about future
developments, however, may change due to market 2.24.2.3 Defined benefit plans
changes or circumstances arising that are beyond the
control of the Group. Such changes are reflected in the The cost of the defined benefit plan and
other post-employment medical benefits
assumptions when they occur.
and the present value of the obligations are
The estimates, judgements and associated determined using actuarial valuations. An
assumptions are based on historical experience and actuarial valuation involves making various
other factors that are considered to be relevant. Actual assumptions that may differ from actual
results may differ from these estimates. developments in the future. These include
the determination of the discount rate, future
Estimates and underlying assumptions are reviewed on salary increases and mortality rates.
an ongoing basis. Revisions to accounting estimates
are recognised in the period in which the estimate is Due to the complexities involved in the
revised and future periods affected. valuation and its long-term nature, a defined
benefit obligation is highly sensitive to changes
The application of accounting policies that require in these assumptions. All assumptions
critical judgements and accounting estimates involving are reviewed at each reporting date. The
complex and subjective judgements and the use of parameter most subject to change is the
assumptions in these standalone financial statements discount rate. In determining the appropriate
have been disclosed here in below: discount rate for plans operated in India, the
2.24.2.1 Impairment of non-financial assets management considers the interest rates of
government bonds in currencies consistent
There is an indication of impairment if, the with the currencies of the post-employment
carrying value of an asset or cash generating benefit obligation.
unit exceeds its recoverable amount, which
is the higher of its fair value less costs of The mortality rate is based on publicly
disposal and its value in use. Group considers available mortality tables of the country.
individual mines as separate cash generating Those mortality tables tend to change only at
units for the purpose of test of impairment. interval in response to demographic changes.
The value in use calculation is based on a
DCF model. The cash flows are derived from 2.24.2.4 Fair value measurement of financial
the budget for the next five years and do not instruments
include restructuring activities that the Group
Fair value is the price that would be received
is not yet committed to or significant future
to sell an asset or paid to transfer a liability
investments that will enhance the asset’s
performance of the CGU being tested. in an orderly transaction between market
The recoverable amount is sensitive to the participants at the measurement date under
discount rate used for the DCF model as well current market conditions.
002-115 116-332 333-513

The Group categorizes assets and liabilities 2.24.2.6 Provision for Mine Closure, Site
measured at fair value into one of three levels Restoration and Decommissioning
depending on the ability to observe inputs Obligation
employed for such measurement:
In determining the fair value of the provision
(a) Level 1: inputs are quoted prices for Mine Closure, Site Restoration and
(unadjusted) in active markets for Decommissioning Obligation, assumptions
identical assets or liabilities. and estimates are made in relation to discount
rates, the expected cost of site restoration
(b) Level 2: inputs other than quoted prices and dismantling and the expected timing of
included within level 1 that are observable those costs. The Group estimates provision
either directly or indirectly for the asset or using the DCF method considering life of the
liability. project/mine based on
(c) Level 3: inputs for the asset or liability  Estimated cost per hectare as specified
which are not based on observable in guidelines issued by Ministry of Coal,
market data (unobservable inputs). Government of India
The Group has an established control  The discount rate (pre-tax rate) that
framework with respect to the measurement reflect current market assessments of
of fair values. This includes a finance team the time value of money and the risks
that has overall responsibility for overseeing specific to the liability.
all significant fair value measurements who
regularly review significant unobservable 2.24.2.7 Stripping Activity
inputs, valuation adjustments and fair value
hierarchy under which the valuation should Ratio Variance reserve is recognized or
be classified. reversed based on the current ratio of
OB to Coal as compared to the average
Stripping ratio (Standard ratio) of the mine.
The standard ratios are based on the coal
2.24.2.5 Intangible asset under development reserves of the mine and the Overburden to
be removed during the life of the mine as per
The Group capitalises intangible asset under
the project report. Changes in the geo-mining
development for a project in accordance with
conditions of the project will generally result
the accounting policy. Initial capitalisation of
in changes in the ratios, such changes to the
costs is based on management’s judgement
ratios are accounted for prospectively.
that technological and economic feasibility is
confirmed, usually when a project report is
formulated and approved.
2.25 Abbreviation used:
a. CGU Cash generating unit l. ECL Eastern Coalfields Limited

b. DCF Discounted Cash Flow m. BCCL Bharat Coking Coal Limited
c. FVTOCI Fair value through Other Comprehensive Income n. CCL Central Coalfields Limited
d. FVTPL Fair value through Profit & Loss o. SECL South Eastern Coalfields Limited
e. GAAP Generally accepted accounting principles p. MCL Mahanadi Coalfields Limited
f. Ind AS Indian Accounting Standards q. NCL Northern Coalfields Limited
g. OCI Other Comprehensive Income r. WCL Western Coalfields Limited
h. P&L Profit and Loss s. CMPDIL Central Mine Planning & Design Institute
Limited
i. PPE Property, Plant and Equipment t. NEC North Eastern Coalfields
j. SPPI Solely Payment of Principal and Interest u. IICM Indian Institute of Coal Management
k. EIR Effective Interest Rate v. CIL Coal India Limited
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 442
NOTE 3 : PROPERTY , PLANT AND EQUIPMENT

H in crore
Building
Land
(including
Reclamation/ Furniture
Freehold Other water Plant and Office Railway Other Mining Surveyed Rail
Site and Vehicles Telecommunication Aircraft Others Total
Land Land supply, Equipment1 Equipments Sidings Infrastructure off Assets Corridor6
Restoration Fixtures
roads and
Costs3
culverts)
Coal India Limited
As at 1st April, 2021 684.91 14,666.72 3,419.24 4,508.88 21,793.73 372.45 207.30 343.12 206.09 1,411.92 0.58 3,023.24 330.91 4,388.58 3.44 55,361.11
Additions 183.06 2,288.66 304.87 508.17 3,693.74 19.41 53.68 85.07 203.11 352.11 - 650.02 58.27 1,163.98 0.68 9,564.83
Deletions/Adjustments (32.94) 32.46 (63.98) 105.47 (826.87) (102.44) 2.05 (6.55) 7.99 1.23 (0.58) (33.78) (45.73) - - (963.67)
As at 31st March, 2022 835.03 16,987.84 3,660.13 5,122.52 24,660.60 289.42 263.03 421.64 417.19 1,765.26 - 3,639.48 343.45 5,552.56 4.12 63,962.27
As at 1st April, 2022 835.03 16,987.84 3,660.13 5,122.52 24,660.60 289.42 263.03 421.64 417.19 1,765.26 - 3,639.48 343.45 5,552.56 4.12 63,962.27
Additions 109.28 2,562.19 397.05 1,033.07 2,316.96 34.25 76.19 85.44 34.78 142.21 - 908.44 81.29 346.25 0.06 8,127.46
Deletions/Adjustments (6.17) (28.99) (150.79) (9.39) (332.34) (9.31) (0.15) (54.65) (0.52) (89.60) - (27.09) (95.01) (1,788.25) (1.53) (2,593.79)
As at 31st March, 2023 938.14 19,521.04 3,906.39 6,146.20 26,645.22 314.36 339.07 452.43 451.45 1,817.87 - 4,520.83 329.73 4,110.56 2.65 69,495.94
Accumulated
Depreciation and
Impairment
As at 1st April, 2021 - 3,263.40 1,652.24 1,015.20 8,973.26 161.80 85.74 202.58 142.57 300.87 - 1,232.98 82.99 491.30 2.53 17,607.46
Depreciation for the year - 837.06 248.34 217.71 2,095.52 19.19 27.47 57.39 40.85 98.75 - 288.44 5.03 256.70 0.02 4,192.47
Impairment for the year - - 5.72 0.17 0.28 - - 0.01 - - - 54.21 (2.57) - - 57.82
Deletions/Adjustments - (3.35) (3.80) 49.07 (622.48) (8.73) 0.64 (12.31) (4.75) 0.58 - 14.50 (2.64) - - (593.27)
As at 31st March, 2022 - 4,097.11 1,902.50 1,282.15 10,446.58 172.26 113.85 247.67 178.67 400.20 - 1,590.13 82.81 748.00 2.55 21,264.48
As at 1st April, 2022 - 4,097.11 1,902.50 1,282.15 10,446.58 172.26 113.85 247.67 178.67 400.20 - 1,590.13 82.81 748.00 2.55 21,264.48
Depreciation for the year - 927.29 311.14 284.75 1,877.68 19.93 35.59 68.15 55.29 117.08 - 440.49 5.42 262.50 0.05 4,405.36
Impairment for the year - - - 1.32 0.37 - 0.03 0.02 - - - 78.06 10.50 - - 90.30
Deletions/Adjustments - (1.31) - (1.27) (656.18) 8.68 (3.93) (34.16) (0.52) (21.92) - 20.07 (16.35) (2.75) (2.53) (712.17)
As at 31st March, 2023 - 5,023.09 2,213.64 1,566.95 11,668.45 200.87 145.54 281.68 233.44 495.36 - 2,128.75 82.38 1,007.75 0.07 25,047.97
Net Carrying Amount
As at 31st March, 2023 938.14 14,497.95 1,692.75 4,579.25 14,976.77 113.49 193.53 170.75 218.01 1,322.51 - 2,392.08 247.35 3,102.81 2.58 44,447.97
As at 31st March, 2022 835.03 12,890.73 1,757.63 3,840.37 14,214.02 117.16 149.18 173.97 238.52 1,365.06 - 2,049.35 260.64 4,804.56 1.57 42,697.79
1. Indian Institute of Coal Management :
• Property, Plant and Equipment comprising plant and equipment and related building and other assets having written down value as on 31.03.2023 of H 11.06 crore (as on 31.03.2022 H11.49 crore) have been let out to Indian Institute of
Coal Management, a registered society under Societies Registration Act, 1860 for an annual lease rent of H.01 crore under cancellable operating lease agreement.
2. Depreciation has been provided based on useful life as mentioned in Note 2.8. However, pending completion of technical assessment to segregate the value of certain assets embedded within a different class of asset, depreciation has been
provided on these assets on the basis of useful life of the un-segregated class of assets.
3. Land Reclamation/Site Restoration cost comprises of estimated cost to be incurred at the stage of mine closure duly escalated for inflation (5% p.a.) and then discounted at 8 % discount rate that reflects current market rate of fair value and the risk.
4. The Group has not revalued its Propert Plant and Equipment during the current and previous year.
5. Refer footnote 1 of note 38(8)(a) for movement in Impairment.
6. Refer footnote 1 of 6.1 for adjustment in Rail Corridor during the year.
7. In respect of Mahanadi Coalfields Limited (MCL), one of the subsidiary company, 102.36 acres of freehold land and Record of Rights (ROR) even though in the name of the company as per title deeds made available, were under the reconciliation
with books and records as on March 31st, 2023.

002-115 116-332 333-513

NOTE 4 : CAPITAL WORK IN PROGRESS
Building
Other Mining Rail Corridor
(including water Plant and Railway Solar
infrastructure/ under Others Total
supply, roads Equipment Sidings Project
Development Construction 2
and culverts)
Gross Carrying
Amount:
As at 1st April, 2021 1,582.96 2,385.15 1,357.83 2,480.59 2,618.46 - 104.37 10,529.36
Additions 803.00 2,485.41 381.69 1,917.85 1,269.86 13.23 557.07 7,428.11
Capitalisation/ (406.25) (1,630.27) (204.84) (1,451.23) (1,244.41) - (95.79) (5,032.79)
Deletions
As at 31st March, 1,979.71 3,240.29 1,534.68 2,947.21 2,643.91 13.23 565.65 12,924.68
2022
As at 1st April, 2022 1,979.71 3,240.29 1,534.68 2,947.21 2,643.91 13.23 565.65 12,924.68
Additions 930.32 4,243.11 989.98 1,796.47 319.82 287.33 305.07 8,872.10
Capitalisation/ (959.72) (1,626.59) (133.91) (1,435.16) (2,052.12) (1.90) (96.04) (6,305.44)
Deletions
As at 31st March, 1,950.31 5,856.81 2,390.75 3,308.52 911.61 298.66 774.68 15,491.34
2023
Accumulated
Impairment
As at 1st April, 2021 11.80 48.93 1.11 70.37 - - 0.07 132.28
Impairment for the 4.96 0.76 0.76 88.12 - - 0.14 94.74
year
Deletions/ (4.19) (0.03) (0.92) (10.95) - - 0.02 (16.07)
Adjustments
As at 31st March, 12.57 49.66 0.95 147.54 - - 0.23 210.95
2022
As at 1st April, 2022 12.57 49.66 0.95 147.54 - - 0.23 210.95
Impairment for the 16.60 2.54 0.41 7.01 - - 0.02 26.58
year
Deletions/ (1.72) 6.09 0.18 (13.31) - - (0.05) (8.81)
Adjustments
As at 31st March, 27.45 58.29 1.54 141.24 - - 0.20 228.72
2023
Net Carrying
Amount
As at 31st March, 1,922.86 5,798.52 2,389.21 3,167.28 911.61 298.66 774.48 15,262.62
2023
As at 31st March, 1,967.14 3,190.63 1,533.73 2,799.67 2,643.91 13.23 565.42 12,713.73
2022
1. Ageing schedule of Capital-work-in Progress (Gross):
Amount in Capital work in Progress as at 31-03-2023

year years
Building (including water supply, roads and culverts) 1,072.28 172.35 312.58 392.71 1,949.92
Plant and Equipments 2,496.67 1,811.98 629.54 904.20 5,842.39
Railway Sidings 882.31 553.70 232.13 719.68 2,387.82
Other Mining infrastructure/Development 1,283.34 1,071.40 218.18 629.85 3,202.77
Rail Corridor under Construction 115.89 675.56 67.71 52.45 911.61
Solar Project 243.12 55.54 - - 298.66
Others 736.26 14.42 23.49 0.51 774.68

NOTE 4 : CAPITAL WORK IN PROGRESS (Contd..)

year years
Building (including water supply, roads and culverts) - 0.21 0.02 0.16 0.39
Plant and Equipments - - - 14.42 14.42
Railway Sidings - - - 2.93 2.93
Other Mining infrastructure/Development - - - 105.75 105.75
Total 6,829.87 4,355.16 1,483.65 2,822.66 15,491.34

year years
Building (including water supply, roads and culverts) 680.91 263.33 184.44 848.28 1,976.96
Plant and Equipments 1,672.61 726.88 296.63 530.99 3,227.11
Railway Sidings 629.12 325.51 204.34 354.98 1,513.95
Other Mining infrastructure/Development 1,043.69 616.75 192.63 989.41 2,842.48
Rail Corridor under Construction 966.13 887.66 46.24 743.88 2,643.91
Solar Project 13.23 - - - 13.23
Others 502.98 30.02 22.60 10.05 565.65
Building (including water supply, roads and culverts) - - - 2.75 2.75
Plant and Equipments - - - 13.18 13.18
Railway Sidings - - - 20.73 20.73
Other Mining infrastructure/Development - - - 104.73 104.73
Total 5,508.67 2,850.15 946.88 3,618.98 12,924.68
for the purpose of aging schedule.
2. Refer footnote 2 of 6.2 for adjustment in Rail Corridor under construction during the year.
Capital-Work-in Progress (CWIP) (Gross)
2. Overdue for material capital-work-in progress (Gross):
To be completed in
1-2 years 2-3 years
year years
Building (including water supply, roads and culverts)
Longwall workshop construction at Jhanjra Project 5.35
Plant and Equipments
Construction of CHP at Jhanjra Project 65.32
Railway Sidings
Construction of New Railway siding at Jhanjra 76.79
Other Mining infrastructure/Development
Drift drivage at Jhanjra Project 4.08
Roof bolting along return roadway at Pandaveswar UG under 0.02
Pandaveswar Area
Cont. of Sectional Stopping at Khottadih UG 0.01
002-115 116-332 333-513

To be completed in
1-2 years 2-3 years
year years
Shifting of 5 nos. 6.6 KV Feeders place near 25 MVA substation 2.10
near Banbahal village along mine boundary through abandoned
4 MVA sub-station and Shankarpur dump and 1 no. from 25
MVA sub-station to sector 3 along the divert NH-60 at Sonepur
Bazari Project
Total 151.54 - - 2.13
2 MTPA Bhojudih NLW Washery 48.66
2.5 MTPA Patherdih NLW Washery 14.92
Feeder breaker at Jogtha 0.66
5 MTPA Patherdih NLW Washery 12.22 10.38
Railway Sidings
CHP cum SILO, Maheshpur 34.92
5 MTPA Patherdih NLW Washery 11.53
5 MTPA Patherdih NLW Washery 1.19
Total 263.81 56.83 - 0.66
Construction of 04 nos D- type qtrs & 12 Nos c -type qtr at north 3.64
urimari OC Birsa Project - NDC & JKEPL (JV)- 2444 dt 21.03.18
Constructions of 16 no. MQ type qtr.&16 no. B type qtr at birsa 1.24
Building at B&K 0.28
W/B under Construction Machine No 9038 to 9040 0.67
W/B under Construction -Ashoka Mettalics 1.35
Konar Washery 5.00
Water Sprinkler 0.11
Railway Sidings
Railway Siding - Rites Ltd.-332/02.11.13332/02.11.13M/S RITES 191.31
LTD
Construction of high level bridge over konar river in Govindpur ph-II 2.34
Diversion of montico nala at Govindpur OCP 1.90
Providing Toe Wall and cutcha Drain near BRO Road 0.13
Detail engineering survey/route alignment survey 0.10
Total 203.60 4.47 - -
Coal Handling Plant (10 MTPA) - Dudhichua 658.44
Coal Handling Plant (15 MTPA) - Jayant 335.30
50 MW Solar PV Project - Nigahi 156.88
Coal Handling Plant (2 MTPA) - Amlohri 105.58

To be completed in
1-2 years 2-3 years
year years
Construction of 20m Via duct at Block-B 16.07
Coal Handling Plant (4.5 MTPA) - Block-B 13.10
Lighting for garden in new D Type Quarter 0.01
Railway Sidings
Railway Siding - Feasibility study for rail connectivity from 2.93
Amlohri to Bargawan
Others
Pipe Line work for industrial water supply 0.15
Total 1,288.46 - - -
Geotechnical Soil Investigation For Constn. Of Chp 0.02
Constn. Of 33 Kv Sub Station 0.67
Constn. Of Chp 1.79
Const Of Boundry Wall At Kailash Nagar 0.43
Const Of Boundry Wall At Sunder Nagar 0.24
Construction Of Diverted Road To Gadegaon Village Along 0.51
Permanent Embankment At Penganga Ocp Of Wani Area
Concreating Of Coal Transportaiton Road From Proposed 1.28
Access Trench To Naigaon Checkpost Near Wardha River Bridge
At Niljai Ocp Of Wani Area
Construction Of 2 No Weighbridge House At Penganga 0.07
Construction Of Etp At Penganga Ocp Effluent Treat 0.20
Const Of Wbm Road From Access Trench To Lod Mobile 0.18
Const Of 100 Mtr Deep Bore Well Nmug To Oc 0.13
Const Of Concrete Pavement At Nmug To Oc Workshop 0.21
Sprinkli Arrange New Shifted Coal Stock Nmugto Oc 0.08
Const. Of Dumper Repair Shed, Pump Shed Etc At New 0.53
Making Boundary Wall By Chain Link Fencing For Pro 0.09
Construction Of Building For Housing Of 1 No. Caa 0.12
Sprinkling Arrangement At Newly Shifted Coal Stock 0.10
Diversion Of Coal Transportation Road Fro Barrier 0.22
Erection Of Oh Line Pole At Ysa 0.30
Const Of Room For Capacitator Bank & Extn 0.03
Errection of 3.3 kv over head line yekona 0.03
Railway Sidings
Consultancy and Construction of railway siding at Mungoli 0.83
Nirguda Opencast Mine of WANI Area
Drivage Of 1 No. Cross Measure Drift 0.49
Drivage Of 3 No. Cross Measure Drift 0.37
Drivage Of X Measure Stone Drift 0.19
Drivage Of Incline Shaft 0.15
5 MlT Stp 1.01
Construction Of Internal Roads 1.83
Total 12.10 - - -
Bhatgaon Area
Construction of sewerage tretment plant ( STP ) of 0.35 MLD - - - 2.01
capacity at new Mq & pragati Vihar Colony Of BSA
002-115 116-332 333-513

To be completed in
1-2 years 2-3 years
year years
Construction of sewerage Treatment plant (STP) of 0.50 MLD - - - 3.17
capacity including surveying, Planning, Designing, Drawing,
and testing and commissioning trial running and operation
and maintenance for 04 years at Bhatgaon Colony Near P & T
Exchange of Bhatgaon area on turnkey basis.”
Construction of Service Road (Phase-II) at Jagannathpur OCP of - - 1.87 -
Bhatgaon Area
Construction of culverts for service road 2 Nos. 3.05 meter span - - 0.10 -
RCC at Jagannathpur OCP of Bhatgaon Area
Construction of STP of 0.35 MLD capacity at Urjanagar Colony - - - 2.34
of Bhatgaon Area on TURNKEY BASIS
Construction of STP of 0.50 MLD capacity at Shaktinagar - - - 2.47
Colony of Bhatgaon Area on TURNKEY BASIS
Johilla Area - - - -
CONSTRUCTION OF BOUNDARY WALL BESIDES PALI SUB - 0.03 - -
AREA
CONSTRUCTION OF STP OF 0.35 MLD ON TRUNKEY BASIS IN - - - 0.21
JOHILLA AREA
Diversion of Mahura PMGSY ROAD at vindhya mine - - 1.52 -
Korba Area - - - -
Installation of 2 nos water cooler - - 0.02 -
Water Sprinkler alongwith fittings - - - 0.36
Road for coal transportation 1.27 - - -
WIDENING AND STRENGHTENING OF ROAD FROM RISDI TO - 2.57 - -
RAJGAMAR
RO treatment unit of capacity 1000 litres 0.10 - - -
pressure sand filter 7000 GPH 0.08 - - -
CONST. OF 400 MQ AT SRK. - - - 0.53
RO treatment unit of capacity 1000 litres 0.10 - - -
CONST OF LABORATORY AND URINALS - - - 0.05
BOUNDARY WALL AT MINE (SARAIPALI OCP - - - 0.03
CONST OF STORE AND OFFICE AT SARAIPALI OCP - - 0.02 -
02 NOS TEMPR. SHED FOR MISC WORK AT SARAIPALI OCP - - - 0.03
First Aid center /Dispensary AT SARAIPALI OCP 0.07 - - -
Construction of canteen (75 sq.m) AT SARAIPALI OCP 0.09 - - -
Providing shed for Boom barrier AT SARAIPALI OCP 0.03 - - -
Construction of Approach Road AT SARAIPALI OCP - 1.08 - -
Construction of Miners Quarters at Banki UG - - - 0.07
Plant and Equipments - - - -
Bhatgaon Area - - - -
Drawing of 220V 5 wire OH line - - - 0.22
Johilla Area - - - -
B-DIVERSION OF 11 KV HT LINE - 0.02 - -
11 K.V. MPEB OH line Divesion at Johilla Area - 0.03 - -
Korba Area - - - -
Construction of 04 Nos. Piezometer 0.11 - - -
Construction of 04 Nos. Piezometer 0.04 - - -
Construction of 8 No of Piezometer for SRK-BLG 0.08 - - -
Installation of piezometers for monitoring at Saraipali OCP 0.05 - - -
Other Mining infrastructure/Development - - - -
Bhatgaon Area - - - -

To be completed in
1-2 years 2-3 years
year years
Project Management consultancy for completed track renewal/ - - - 39.94
renovation and other improvement works of Railway Track from
Karonji to Bhatgaon Railway Siding at Bhatgaon Area
FIXED TYPE SPRINKLER SYSTEM ALONG HAUL ROAD AND 0.06 - - -
ALONG COAL STOCK YAD
ARRANGEMENT FOR RAIN HARVESTING AT NRB AT JOCP 0.03 - - -
Construction of Oil and Grease Trap at HEMM Washing platform 0.04 - - -
at Jagannathpur OCP of Bhatgaon Area.(Under Capital Head)
Korba Area - - - -
Construction of Silo Siding at MKP 92.05 - - -
PMC work under stage-III activities 22.23 - - -
Job of Drivage of 1 drift in hard stone at SRK MM - - - 0.11
Installation of Concertina Coils near coal stock - - - 0.18
Total 116.41 3.73 3.54 51.72
RCC welcome gate at Basundhara 0.11
E&M workshop at Garjanbahal 2.05
Infrastructure in HEMM workshop GOCP 0.01
Construction of 928qtr 65.01
Black Topping road from kulda workshop to Lalma Chowk 0.01
Construction of 928qtr 23.85
Const of 1 no bridge 4.42
Const of worker hostel - - - 0.50
Construction of building for the proposed MINREM at Tamando - 125.26 -
(MICM)
Shifting of Wesco OH line from 33/11 substation to police phandi 0.82 - - -
Wheel washing system kulda 0.70 - - -
Wheel washing system kulda 0.42 - - -
15 no Weigh bridge 3.06 - - -
Street Lighting arrangement Duduka Chowk 0.67 - - -
Rapid Loading System - - - -
- Preparation of FSR & DPR for Rail Connectivity to SILO AOCP - - - -
- Preparation of e-NIT and Cost Estimate of 132/33kV S/S of - 1.03 3.43 -
JOCP
- Bhubaneswari CHP/SILO Phase-1 - - - 261.96
Railway Sidings
Dev of Rail Infrastructure for proposed 02 nos RLS 55.68
wind barrier system along coal stock KOC 1.46 - -
Civil work for installation of 06 WB 0.86 - -
PQC road inside Kulda Mine,Coal Stock 3.24 - -
construction of four lane coal corridor from bankibahal to - 432.50 -
bhedabahal
Construction of 1 no bridge 3.51 - -
Construction of 2 no bridge 16.01 - -
Repair of road from Duduka to Sundargarh. 9.01 - - -
- Automatic Signaling between Talcher to Paradeep Port - - 16.90
Rail Corridor under Construction - -
Double line JSG to Sardega 331.20
002-115 116-332 333-513

To be completed in
1-2 years 2-3 years
year years
AUC-OMI-PS 1.34
AUC-OMI 45.55
OMI 0.80
Intangible Assets (Preparation of revised project planning) 0.22 - - -
Total 183.13 614.47 351.53 262.46
Grand Total 2,219.06 679.50 355.06 316.97
NOTE 5 : EXPLORATION AND EVALUATION ASSETS

H in crore
Exploration and
Evaluation Costs
As at 1st April, 2021 4,634.02
Additions 344.43
Transfer to Capital Work in Progress/ Deletions (1,044.97)
As at 31st March, 2022 3,933.48
As at 1st April, 2022 3,933.48
Additions 1,104.08
Transfer to Capital Work in Progress/ Deletions (51.22)
As at 31st March, 2023 4,986.34
Accumulated Impairment
Charge for the year 32.37
Deletions/Adjustments (0.65)
As at 31st March, 2022 59.93
Charge for the year 1.56
As at 31st March, 2023 61.49
Net Carrying Amount
As at 31st March, 2023 4,924.85
As at 31st March, 2022 3,873.55
1. Ageing schedule Exploration and Evaluation (Gross)

year years
Exploration and Evaluation 954.17 422.98 284.77 3,272.63 4,934.55
Exploration and Evaluation - 0.54 20.56 30.69 51.79
Total 954.17 423.52 305.33 3,303.32 4,986.34

NOTE 5 : EXPLORATION AND EVALUATION ASSETS (Contd..)

year years
Exploration and Evaluation 472.09 378.65 236.42 2,794.31 3,881.47
Exploration and Evaluation 0.54 1.28 20.32 29.87 52.01
Total 472.63 379.93 256.74 2,824.18 3,933.48
2. Overdue material Exploration and Evaluation
To be completed in
1-2 years 2-3 years
year years
Singara & Kapuria Blocks, WJ 46.49
Block VIII, Bastacola 6.85
Total - - 53.34 -
Ashoka Washery 0.76 0.79
Total - - 0.76 0.79
Hemgiri Sector-1 5.79
Madhupur 5.22
PRAJAPARA 2.02
BAITARANI 0.01
GAUTAMDHARA 0.01
Total - - - 13.05
NOTE 6.1 : INTANGIBLE ASSETS
Intangible
Computer Rail
Exploratory Others Total
Software Corridor1
Assets
As at 1st April, 2021 36.57 32.32 - 29.33 98.22
Additions 11.72 25.97 - - 37.69
Deletions/Adjustments 0.01 29.51 - - 29.52
As at 31st March, 2022 48.30 87.80 - 29.33 165.43
As at 1st April, 2022 48.30 87.80 - 29.33 165.43
Additions 292.84 - 591.87 - 884.71
Deletions/Adjustments - - 1,788.26 - 1,788.26
As at 31st March, 2023 341.14 87.80 2,380.13 29.33 2,838.40
Accumulated Amortisation
As at 1st April, 2021 23.13 - - 29.33 52.46
Charges for the year 7.35 - - - 7.35
As at 31st March, 2022 30.48 - - 29.33 59.81
002-115 116-332 333-513

NOTE 6.1 : INTANGIBLE ASSETS (Contd..)
Intangible
Computer Rail
Exploratory Others Total
Software Corridor1
Assets
As at 1st April, 2022 30.48 - - 29.33 59.81
Charges for the year 52.57 - 133.93 - 186.50
Deletions/Adjustments 0.01 - 3.97 - 3.98
As at 31st March, 2023 83.06 - 137.90 29.33 250.29
Net Carrying Amount
As at 31st March, 2023 258.08 87.80 2,242.23 - 2,588.11
As at 31st March, 2022 17.82 87.80 - - 105.62
1. In case of CERL, subsidiary of SECL, in view of the opinion received from Expert Advisory Committee of Institute of Chartered
Accountants of India (ICAI), Rail Corridor which was part of Property, Plant and Equipment has been with effect from this year
considered as Intangible Assets. Accordingly, carrying value of such asset at the begening of the year amounting to H 1788.26
crore has been transferred therefrom and accounted for as Rail Corridor under Intangible Assets.
NOTE 6.2 : INTANGIBLE ASSETS UNDER DEVELOPMENT
Rail Corridor
ERP under
under Total
Development1
Development2
Carrying Amount:
As at 1st April, 2021 86.17 86.17
Additions 85.28 85.28
Capitalisation/ Deletions 11.96 11.96
As at 31st March, 2022 183.41 - 183.41
As at 1st April, 2022 183.41 - 183.41
Additions 37.33 307.33 344.66
Capitalisation/ Deletions (220.32) 2,051.60 1,831.28
As at 31st March, 2023 0.42 2,358.93 2,359.35
1. ERP under Development also includes separate computer software under Development in SECL amounting H 0.42 crore.
2. In case of CERL and CEWRL, subsidiaries of SECL, in view of the opinion received from Expert Advisory Committee of Institute
of Chartered Accountants of India (ICAI), Rail Corridor which was part of Capital Work-in progress has been with effect from
this year considered as Intangible Assets under Construction. Accordingly, carrying value of such asset at the beginning of the
year amounting to H 2051.60 crore has been transferred therefrom and accounted for as Rail Corridor under construction under
Intangible Assets under Development.
Intangible Assets under Development
1. Ageing schedule intangible assets under development

year years
ERP under Development 0.42 - - - 0.42
Rail Corridor Under Development 1,128.96 379.53 242.29 608.15 2,358.93
Total 1,129.38 379.53 242.29 608.15 2,359.35

NOTE 6.2 : INTANGIBLE ASSETS UNDER DEVELOPMENT (Contd..)

year years
ERP under Development - - 183.41 - 183.41
Total - - 183.41 - 183.41
NOTE - 07 : INVESTMENTS (NON-CURRENT)

H in crore
As at As at
31-03-2023 31-03-2022
Investment in Co-operative shares (Unquoted)2 0.08 0.08
Equity Shares in Joint Ventures (Unquoted)
International Coal Venture Private Limited , New Delhi 7.75 7.75
2800000 equity share of H 10 each fully paid (P.Y. 2800000 equity share of H 10 each fully paid)
CIL NTPC Urja Private Limited , New Delhi 0.08 0.02
Talcher Fertilizers Limited, Bhubneswar, Orissa 809.30 798.09
805480826 equity share of H 10 each fully paid (P.Y. 805480826 equity share of H 10 each
fully paid)
Hidustan Urvarak & Rasayan Limited, New Delhi 2,266.86 1,620.64
2295955000 equity share of H 10 each fully paid (P.Y. 1629415000 equity share of H 10
each fully paid)
Coal Lignite Urja Vikas Private Limited, Kolkata, West Bengal 1.33 0.39
3,085.32 2,426.89
TOTAL 3,085.40 2,426.97
1. Refer note 38 (5) for classification
2. Details of Investment in Co-operative shares (Unquoted)

H in crore
As at As at
31-03-2023 31-03-2022
B class shares in Coal Mines Officers Cooperative Credit Society Limited 0.05 0.05
500 shares of H 1000 per share (P.Y. 500 shares of H 1000 per share)
D class shares in Dishergarh colly Worker's central co-opt store Limited 0.01 0.01
Mugma coalfield colly Worker's central co-opt store Ltd 0.01 0.01
B class shares in Sodepur colly Employee's co-opt credit society Limited 0.005 0.005
B class shares in Dhenomain colly. Employees' co-opt credit society Limited 0.005 0.005
3. Particulars of Investment as required in terms of section 186 (4) of the Companies Act, 2013, have been disclosed under note no. 7 above.
002-115 116-332 333-513

NOTE - 07 : INVESTMENTS (CURRENT)
Mutual Fund (Unquoted)

H in crore
As at As at
Units NAV (J)
31-03-2023 31-03-2022
SBI Mutual Fund - Overnight 1809514.529 3649.25 660.32 1,085.50
(P.Y. 3245767.142) (P.Y. 3461.35)
SBI Mutual Fund - Ultra Magnum 4038689.331 5158.42 2,083.32 1,516.18
(P.Y. 3096076.582) (P.Y. 4897.07)
SBI Mutual Fund - Liquid Fund 2971530.161 3523.3 1,046.97 3,044.41
(P.Y. 9146525.485 ) (P.Y. 3333.09)
Canara Robeco Mutual Fund 244893.195 2696.71 66.04 77.21
(P.Y. 387150.7) (P.Y. 2549.8)
Union KBC Mutual Fund 185567.287 2169.45 40.27 13.83
(P.Y. 111140.289) (P.Y. 2050.95)
Bank of Baroda Mutual Fund 605183.757 2595.47 157.09 106.55
(P.Y. 434307.882) (P.Y. 2452.93)
4,054.01 5,843.68
Others
Others (Investment in Secured Bonds- Quoted) - 649.95
TOTAL 4,054.01 6,493.63
Aggregate amount of quoted investments and - 649.95
market value:
2. Particulars of Investment as required in terms of section 186 (4) of the Companies Act, 2013, have been disclosed under note
no. 7 above.
NOTE - 08 : LOANS
As at As at
31-03-2023 31-03-2022
NON-CURRENT
- Unsecured, considered good 86.81 86.54
101.87 99.66
Less: Allowance for doubtful loans2 2.15 1.94
Deferred Asset on Non Interest Bearing Advance 272.49 257.75
TOTAL 372.21 355.47
CURRENT
- Unsecured, considered good 19.62 -
TOTAL 20.79 0.32
1. For Loan to related parties - Refer Note 38(2)(viii)
2. For movement in allowance - refer note 38(8)(a)


NOTE - 09 : OTHER FINANCIAL ASSETS
H in crore
As at As at
31-03-2023 31-03-2022
NON-CURRENT
Less : Allowance for doubtful Security deposits2 22.05 22.28
481.44 325.34
Bank Deposits with more than 12 months maturity 309.29 372.19
Deposit in Bank under Mine Closure Plan3 10,120.99 8,916.38
Deposit in Bank under Shifting and Rehabilitation Fund scheme4&6 5,320.15 4,838.28
15,750.43 14,126.85
Other Deposit and Receivables5 72.18 49.05
68.42 46.60
TOTAL 16,300.29 14,498.79
Notes:
3. Deposit with bank under Mine Closure Plan
Following the guidelines from Ministry of Coal, Government of India for preparation of Mine Closure Plan, an Escrow Account
has been opened. Up to 50% of the total amount deposited including interest accrued in the ESCROW account may be
released after every five years in line with the periodic examination of the closure plan as per the Guidelines. (Refer Note 21 for
Provision for Site Restoration/Mine Closure).
H in crore
As at As at
31-03-2023 31-03-2022
Opening Balance in Escrow Account 8,916.38 8,048.44
Add: Amount deposited during Year 902.58 730.20
Add: Interest Credited during the year (Net of TDS) 393.31 247.67
Less: Amount Withdrawn during year 91.28 109.93
Balance in Escrow Account on Closing date 10,120.99 8,916.38
4. Deposit in Bank under Shifting and Rehabilitation Fund scheme
Following the direction of the Ministry of Coal the holding company has setup a fund for implementation of action plan for
shifting and rehabilitation dealing with fire and stabilization of unstable areas of Eastern Coal Fields Limited and Bharat Coking
Coal Limited. The fund is utilized (ECL and BCCL) based on implementation of approved projects in this respect.
The coal producing subsidiaries of CIL are making a contribution of H 6/- per tonne of their respective coal despatch per annum
to this fund, which remains in the custody of CIL, till they are disbursed/utilised by subsidiaries/agencies implementing the
relevant projects.
5. Other Deposit and receivables include advance of J 35.34 crore dealt herein below:
Coal India Limited entered into a Consortium Agreement with M/s BEML Ltd and M/s Damodar Valley Corporation (DVC) on
08.06.2010 for acquiring specified assets of M/s Mining and Allied Machinery Corporation (under liquidation). The agreement,
inter alia, provided for formation of a joint venture company with a shareholding pattern of 48:26:26 among BEML, CIL and DVC
respectively. CIL has paid its proportionate share towards bid consideration of H 100 crore towards the said acquisition based on
the order passed by Hon'ble High Court of Calcutta. As on 31.03.2023 an amount of H 35.34 crore (P.Y. H34.96 crore) was paid
towards bid consideration and other miscellaneous expenditure. Further a Company in the name of MAMC Industries Limited
(MIL) has been formed and incorporated on 25th August 2010 as a wholly owned subsidiary of BEML for the intended purpose of
Joint Venture formation. As per terms and condition of the Consortium Agreement, a shareholders' agreement and joint venture
agreement was to be executed. However shareholders' agreement and joint venture agreement are not yet executed.
002-115 116-332 333-513

NOTE - 09 : OTHER FINANCIAL ASSETS (Contd..)
6. The above include H300 crore to be released from escrow and transfer to the company’s fund being the amount equivalent to
the liability discharged by the company.
H in crore
As at As at
CURRENT
31-03-2023 31-03-2022
Balance with IICM 5.41 5.00
Interest accrued 716.92 515.27
Other Deposit and Receivables 2,024.18 2,166.47
1,971.02 2,090.75
TOTAL 2,716.96 2,620.91
NOTE - 10 : OTHER NON-CURRENT ASSETS

H in crore
As at As at
31-03-2023 31-03-2022
Capital Advances 5,271.43 3,310.58
Less : Allowance for doubtful advances2 8.76 11.43
5,262.67 3,299.15
Other Deposits and Advances 98.82 116.79
Less : Allowance for doubtful deposits2 5.57 7.14
93.25 109.65
Progressive Mine Closure Expense incurred3 4,250.23 2,999.14
TOTAL 9,606.15 6,407.94
3. The above represents concurrent expenditure recognised as per guidelines from Ministry of Coal, Government of India for
preparation of Mine Closure Plan.
NOTE - 11 : OTHER CURRENT ASSETS

H in crore
As at As at
31-03-2023 31-03-2022
Advance payment of statutory dues 1,387.59 765.30
Less : Allowance for doubtful Statutory dues2 - 0.89
1,387.59 764.41
Other Deposits and Advances3&4 17,837.68 16,776.89
Less : Allowance for doubtful other deposits and advances2 55.39 36.33
17,782.29 16,740.56
Progressive Mine Closure Expense incurred6 675.20 494.63
Input Tax Credit receivable5 11,589.85 8,899.75
TOTAL 31,434.93 26,899.35


NOTE - 11 : OTHER CURRENT ASSETS (Contd..)
3. Includes deposit under protest and refund yet to be received for settled cases for :- Income tax H 1413.97 crore (P.Y. H 1413.97
crore), Sales tax H 614.64 crore (P.Y. H 594.11 crore) Service Tax H 14.73 crore(P.Y. H 11.18 crore) in Northern Coalfields Limited,
and Income Tax H 8902.72 crore (P.Y. H7,842.09 crore) in South Eastern Coalfields Limited.
4. Includes Excess CSR H 125.89 crore (P.Y.H 198.42 crore) (Refer Annexure to Note - 29 CSR Expenses)
5. Represents H 11,589.85 crore (P.Y. H 8,899.75 crore) in respect of input tax credit relating to GST paid on input materials/services
available for utilisation against the GST on output. This to a large extent includes GST on royalty against mining operation paid
under Reverse Charge Mechanism (RCM) at rate of 18% against which the recovery is limited to 5% being the rate of duty
payable on coal. The amount getting accumulated due to inverted tax structure even though not refundable as per notification
issued in this respect, is carried forward considering that there is no time limit for utilising the same.
6. Refer footnote 3 of note 10.
NOTE - 12 : INVENTORIES
H in crore
As at As at
31-03-2023 31-03-2022
Stock of Coal (Finished Goods) 6,079.18 5,413.01
Stock of Coal at Development Projects 25.93 0.15
6,105.11 5,413.16
Stock of Stores and Spares (net) 1,930.95 1,560.46
Add: Stores-in-transit 1.18 1.18
1,932.13 1,561.64
Stock of Medicine at Central Hospital 13.50 9.01
Workshop Jobs, Press Jobs and others 103.94 91.87
117.44 100.88
TOTAL 8,154.68 7,075.68
1. Investories of stores and spares include certain slow moving, non-moving and obsolete items. Impairement allowance towards
obsolescence for such moving, non-moving and obsolete items is carried in the books and as per the policy of the company the
same is adequate and no further impairment allowance is required.
Method of valuation : Refer Note No. 2.21 - Significant Accounting Policies on "Inventories".
NOTE - 13 : TRADE RECEIVABLES

H in crore
As at As at
31-03-2023 31-03-2022
Secured considered good 36.61 78.79
Unsecured considered good 13,023.87 11,288.89
Credit impaired 2,722.13 2,424.53
15,782.61 13,792.21
Less : Allowance for bad and doubtful debts2 2,722.13 2,424.53
TOTAL 13,060.48 11,367.68
3. Trade receivables above is net of Coal quality variance of H 724.47 crore ( P.Y. H 986.63 crore)
4. Trade Receivable include amount recoverable from NTPC for the period from September 2017 to August 2020 on account of
Surface transportation charges (STC) for the supply of coal for a lead distance of 0-3 Kms is pending for decision at AMRCD
(Mechanism under Department of Public Enterprises) where management expects favourable result.
002-115 116-332 333-513

NOTE - 13 : TRADE RECEIVABLES (Contd..)
As at 31-03-2023
Outstanding for following periods from transaction

Trade Receivables ageing schedule
date
Total
Less than 6 months 2-3 More than
Particulars 1-2 years
6 months 1 year years 3 years
(i) Undisputed Trade receivables – considered good 9,808.94 323.86 1,049.62 668.60 1,096.85 12,947.87
(ii) Undisputed Trade Receivables – credit impaired - - - 0.46 1,050.24 1,050.70
(iii) Disputed Trade Receivables– considered good - - 2.86 81.71 376.10 460.67
(iv) Disputed Trade Receivables – credit impaired 30.32 18.17 76.73 58.56 1,139.59 1,323.37
Total 9,839.26 342.03 1,129.21 809.33 3,662.78 15,782.61
Allowance for bad and doubtful debts 30.32 18.17 76.73 71.82 2,525.09 2,722.13
Expected credit losses (Loss allowance provision) - % 0% 5% 7% 9% 69% 17%
As at 31-03-2022
Trade Receivables ageing schedule Outstanding for following periods from transaction date
Less than 6 months More than Total
Particulars 1-2 years 2-3 years
6 months 1 year 3 years
(i) Undisputed Trade receivables – considered good 7,062.28 984.29 1,697.04 1,084.12 1,220.65 12,048.38
(ii) Undisputed Trade Receivables - which have - - 0.46 3.94 66.57 70.97
significant increase in credit risk
(iii) Undisputed Trade Receivables – credit impaired - - - - 31.89 31.89
(iv) Disputed Trade Receivables– considered good - - 82.10 128.74 301.25 512.09
(v) Disputed Trade Receivables – credit impaired 86.91 23.46 8.73 86.96 922.82 1,128.88
Total 7,149.19 1,007.75 1,788.33 1,303.76 2,543.18 13,792.21
Allowance for bad and doubtful debts 86.91 23.46 9.19 90.90 2,214.07 2,424.53
Expected credit losses (Loss allowance provision) - % 1% 2% 1% 7% 87% 18%
NOTE - 14 : CASH AND CASH EQUIVALENTS

H in crore
As at As at
31-03-2023 31-03-2022
- in Deposit Accounts3 2,148.66 2,837.43
- in Current Accounts
- interest bearing (CLTD A/c Etc.) 2,148.26 1,951.55
- Non- interest bearing 623.11 1,396.16
(b) Bank Balances outside India 0.12 0.09
(c) ICDs with Primary Dealers1 520.00 785.78
(d) Cheques, Drafts and Stamps in hand 0.09 0.02
(e) Cash in hand 0.01 0.02
(f) Others e-procurement account/GeM account/Imprest balances 190.74 91.47
TOTAL 5,665.38 7,063.48
1. ICDs with Primary Dealers are Inter-Corporate Deposits accepted by the Primary Dealers with an original maturiy between 7 to
15 days from the date of Investment.
2. Cash and cash equivalents comprises cash on hand and at bank, sweep accounts and term deposits held with banks with
original maturities of three months or less.
3. Refer footnote 6 of note 9 'Other Financial Assets'.


NOTE - 15 : OTHER BANK BALANCES
H in crore
As at As at
31-03-2023 31-03-2022
Balances with Banks
Deposit accounts 33,386.78 22,035.42
Deposit accounts (For specific purposes1 &2) 854.19 791.35
Unpaid dividend accounts 15.50 12.78
Dividend accounts - 62.20
TOTAL 34,256.47 22,901.75
1. Deposit for specific purposes are bank deposits held under lien/earmarked as per courts order and for other specific purposes.
2. Other Bank Balances comprise Deposits - for specific purposes and bank deposits which are expected to realise in cash within
12 months after the reporting date.
NOTE - 16 : EQUITY SHARE CAPITAL

H in crore
As at As at
31-03-2023 31-03-2022
Issued, Subscribed and Paid-up Share Capital
6,16,27,28,327 Equity Shares of H10/- each fully paid 6,162.73 6,162.73
(P.Y. 6,16,27,28,327) Equity Shares of H10/- each fully paid
TOTAL 6,162.73 6,162.73
1. Shares in the company held by each shareholder holding more than 5% Shares
Number of % of Total % change during

Name of Shareholders
shares held Shares the year
Hon'ble President of India (Promoter) As at 31-03-2023 4075634553 66.13 0.00%
As at 31-03-2022 4075634553 66.13
Life Insurance Corporation of India As at 31-03-2023 678015625 11.00 0.00%
As at 31-03-2022 678015625 11.00
2. Reconciliation of equity shares outstanding at the beginning and at the end of reporting period:-
(J in crore)
Particular Number of Share Amount
Balance as on 01.04.2018 6,20,74,09,177 6,207.41
Less: Shares bought back by the company during FY 2018-19 4,46,80,850 44.68
Balance as on 31.03.2019 6,16,27,28,327 6,162.73
Change during FY 2019-20 - -
Balance as on 31.03.2020 6,16,27,28,327 6,162.73
Change during FY 2020-21 - -
Balance as on 31.03.2021 6,16,27,28,327 6,162.73
Change during period ended - -
Balance as on 31.03.2022 6,16,27,28,327 6,162.73
Change during period ended - -
Balance as on 31.03.2023 6,16,27,28,327 6,162.73
3. Listing of shares of Coal India Limited in Stock Exchange
The shares of Coal India Limited is listed in two major stock exchanges of India, viz. Bombay Stock Exchange and National
Stock Exchange on and from 4th November,2010.
002-115 116-332 333-513

NOTE - 16 : EQUITY SHARE CAPITAL (Contd..)
The details of disinvestment/Buyback of shares by Government of India is furnished below:

disinvested Disinvested
2010-11 10.00% 631636440.00 IPO
2013-14 0.35% 22037834.00 CPSE-ETF
2014-15 10.00% 631636440.00 OFS
2015-16 0.001% 83104.00 CPSE-ETF
2016-17 1.25% 78842816.00 Buyback
2016-17 0.92% 57156437.00 CPSE-ETF
2017-18 0.31% 19299613.00 Bharat 22-ETF
2018-19 0.23% 13991488.00 Bharat 22-ETF
2018-19 3.19% 198003931.00 OFS
2018-19 2.21% 137311943.00 CPSE-ETF
2018-19 0.01% 681840.00 OFS
2018-19 0.38% 23779267.00 BHARAT 22-ETF
2018-19 1.37% 84592894.00 CPSE-ETF
2018-19 0.19% 44293572.00 Buyback
2019-20 1.70% 104977641.00 CPSE ETF FFO5
2019-20 0.21% 12835528.00 Bharat 22 ETF
2019-20 2.91% 179569059.00 CPSE ETF FFO6
Total 2240729847.00
Hence, the number of shares held by Government of India stood at i.e. 66.13 % of the total 6162728327 number of shares
outstanding as on 31-03-2023.
4. The Company has only one class of equity shares having a face value H 10/- per share. The holders of the equity shares are
entitled to receive dividends as declared from time to time and are entitled to voting rights proportionate to their share holding
at the meeting of shareholders. The dividend proposed by the Board of Directors is subject to the approval of the shareholders
in the Annual General Meeting. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of
the company after payment of all preferential amount, in proportionate to there shareholdings.
NOTE 17 : OTHER EQUITY

H in crore
Exchange
differences
OCI - in
Reserve2 Reserve3 Earnings4
reserve1 Benefits Plans statements
(net of Tax)5 of a
foreign
operation6
Balance as at 01.04.2022 1,202.96 1,566.57 17,641.59 17,451.80 (883.33) 0.72 36,980.31
Total Comprehensive Income 28,165.19 264.46 0.17 28,429.82
for the year
Interim Dividend (12,479.57) (12,479.57)
Final Dividend (1,848.82) (1,848.82)
Addition during the year - 2.63 - - - 2.63
Adjustments during the year - (1.40) - (22.80) 21.99 - (2.21)
Transfer to / from General 1,326.83 (1,326.83) -
reserve
Balance as at 31.03.2023 1,202.96 1,567.80 18,968.42 29,938.97 (596.88) 0.89 51,082.16

H in crore
Exchange
differences
OCI - in
Reserve2
Reserve3 Earnings4
reserve1 Benefits Plans statements
(net of Tax)5 of a
foreign
operation6
Balance as at 01.04.2021 1,202.96 1,565.45 16,779.18 11,740.96 (934.42) 0.50 30,354.63
Total Comprehensive Income 17,358.10 51.09 0.22 17,409.41
for the year
Interim Dividend (8,627.82) (8,627.82)
Final Dividend (2,156.97) (2,156.97)
Addition during the year - 2.20 - - - 2.20
Adjustments during the year - (1.08) - (0.06) - (1.14)
Transfer to / from General 862.41 (862.41) -
reserve
Balance as at 31.03.2022 1,202.96 1,566.57 17,641.59 17,451.80 (883.33) 0.72 36,980.31
1. Capital Redemption Reserve:
(a) As per Companies Act, 2013 Capital Redemption Reserve is created when company purchases its own share out of
free reserve or securities premium, a sum equal to the nominal value of the shares so purchased is transferred to capital
redemption reserve. The reserve is utilised in accordance with the provsions of the section 69 of the Companies Act, 2013.
(b) In case of Holding Company:
Details of Capital Redemption Reserve
Amount
Particular Year
(J in crore)
Non-Cumulative 10% Redeemable Preference Share 904.18 Upto FY 2000-01
Total 1057.81
2. Capital Reserve:
Capital Reserve above includes difference between investment in subsidiaries and share capital of subsidiaries recognised on
consolidation for issue of bonus shares by subsidiary companies viz. Northern Coalfields Limited (NCL), Mahanadi Coalfields Limited
(MCL), South Eastern Coalfields Limited (SECL) during the financial year 2017-18 and during the financial year 2020-21 by CMPDIL.
In case of Central Mine Planning & Design Institute Limited (CMPDIL), Grant / Funds received under S&T, PRE, EMSC, CCDA
etc as an implementing agency and used for creation of assets are treated as Capital Reserve and depreciation thereon is
debited to Capital Reserve Account. The ownership of the asset created through grants lies with the authority from whom the
grant is received. The balance of grants as on 31.03.2023 and 31.03.2022 is H20.13 crore and H18.90 crore respectively.
3. General Reserve:
General reserve is used from time to time to transfer profits from retained earnings for appropriation purposes.
4. Retained Earnings:
Retained Earnings are the profits of the Group earned till date net of appropriations. Retained earnings is net-off Accumulated
Losses of ECL, BCCL, WCL and CIAL as on 31-03-2023 amounting to H 3891.37 crore (P.Y. H 5576.28 crore).
002-115 116-332 333-513

5. Other Comprehensive Income (OCI):
Represents changes in the fair value of Actuarial Benefit of Gratuity and Post Retirement Medical Benefit.
6. It includes OCI - Exchange differences in translating the financial statements of a foreign subsidiary.
7. The Board of Directors of the holding company has recommended a final dividend of H 4 (40%) per equity
share subject to approval in the forthcoming Annual General Meeting of the company. The 2nd interim
dividend of H 5.25 (52.50%) per equity share and 1st interim dividend of H 15.00 (150%) per equity share
were declared for the Financial Year 2022-23 on 31st January 2023 and 07th November 2022 respectively.
The holding company has declared a final dividend of H 3.00 (30%) per equity share and an interim dividend of H14 (140%) per
equity share for the previous financial year.
NOTE - 18 : BORROWINGS
H in crore
As at As at
31-03-2023 31-03-2022
Non-Current
Term Loans
From Banks1&2 4,087.19 3,284.13
From Others3 19.06 17.65
4,106.25 3,301.78
Secured
From Banks 3,927.33 3,284.13
From Others 19.06 17.65
Unsecured
From Banks 159.86 155.35
Current
From Bank
- Bank overdrafts - 0.18
Current maturities of long-term borrowings1 8.48 7.80
8.48 7.98
Secured
From Banks 0.03 0.18
Unsecured
From Banks 8.45 7.80
1. Loan Guaranteed by Directors and Others:
Particulars of Loan Amount J in crore Nature of Guarantee

Export Development Corporation, Canada 155.94 Guarantee executed by the
President of India
Banque Nationale De Paris and Natexis Banque, France 3.92 The GOI provided an irrevocable and
unconditional guarantee in relation
to all our payment obligations.
Current maturities of the long term borrowing for H 7.79 crore (P.Y. H 7.18 crore) in respect of Export Development Corporation,
Canada, loan and H 0.66 crore (P.Y. H0.62 crore) in respect of Banque Nationale De Paris and Natexis Banque, France, is also
guaranteed as above.

NOTE - 18 : BORROWINGS (Contd..)
Repayment Schedule :
Export Development Corp. Canada: Repayment of instalments is made semi-annually i.e. on January 31 and on July 31 and loan
facilities will be completed on September 30, 2028.
Banque Nationale De Paris and Natexis Banque, France: Repayment under these loan facilities will be completed on September
30, 2030.
2. Non Current Term Loans from Banks :
CERL, a subsidiary of SECL has entered into Term Loan Financing Documents with a Consortium of Banks led by Indian
Bank on 24.11.2017 for availment of Rupee Term Loan (RTL) of H2443.00 crore at Interest rate of Indian Bank 1 year MCLR
+0.75 BP. The repayment period of Loan shall be : (i) Principal amount over a period of 14 years after a moratorium period of
2 years; (ii) Interest amount would be paid on monthly basis. Term loan is secured by : (a) First mortgage on all immovable
fixed assets (including freehold and lease hold) of the Project, both present and future, save and except the Project Assets;
(b) A first ranking pari passu charge by way of hypothecation on all tangible movables in relation to the Project, both present
and future, save and except the Project Assets ;(c) A first ranking pari passu charge by way of hypothecation on all the rights,
interest and obligation in relation to the Project including assignment of Insurance Contracts, to the extent covered by the
Concession Agreement; (d) A first ranking pari passu charge over all accounts and current assets of CERL in relation to the
Project and first charge on the receivables; (e) A first ranking pari passu charge by way hypothecation on all intangible assets
of CERL in relation to the Project subject to the extent permissible as per the priority specified in the Concession Agreement
and Escrow Agreement; (f) Non Disposal Undertaking for 51% of the aggregate shareholding of the CERL, with a condition
that 24% of the aggregate shareholding shall be pledged in favour of Security Trustee upon occurrence of event of default;
(g) Project Assets shall not form part of the Security.
CEWRL has entered into Term Loan Financing with a Consortium of Banks led by State Bank of India on 04.09.2020 for availing
Rupee Term Loan (RTL) of H3976.00 crore at Interest rate of State Bank of India 1 year MCLR +125 BPS. The repayment period
of Loan shall be: Principal amount over a period of 14 years in structured quarterly instalments, after a moratorium period of 2
years from SCOD; (ii) Interest amount would be paid on monthly basis. Term loan is secured by(a) a first charge over all immovable
properties of the Borrower; both present and future, save and except the Project Assets; (b) a first charge on all tangible moveable
assets of the Borrower, including moveable plant and machinery, machinery spares, tools and accessories, furniture, fixtures,
vehicles and all other movable assets, both present and future, save and except the Project Assets:(c) a first charge over all
receivables, current assets and accounts of the Borrower, including the Escrow Account and its sub-accounts (or any account in
substitution thereof) that may be opened in accordance with this Agreement and the Supplementary Escrow Agreement, or any
of the other Project Documents or contracts in relation to the Project, and all funds deposited therein, from time to time, and all
receivables and Permitted Investments or other securities; (d) ) a first charge on all the intangible assets of the Borrower, including
but not limited to, goodwill, rights, undertakings of the Borrower, and uncalled capital both present and future, except the Project
Assets, provided that, all receivables arising therefrom shall be deposited into the Escrow Account and charge on the same shall
be subject to the extent permissible as per the priority specified in the Article 25 of the Concession Agreement and Clause 4 of the
Escrow Agreement. Further, a charge on uncalled capital, shall be subject to the provisions of the Concession Agreement; (e) all the
rights, title, interest, obligations, benefits, claims and demands, whatsoever, of the Borrower in relation to the Project or in favour of
the Security Trustee as nominee, all the rights, title and interest of the Borrower in, to or under all such approvals as are required to
be sought from any Governmental Authority, all the rights, title, interest, benefits, claims and demands, whatsoever, of the Borrower
any letter of credit, guarantee, including contractor guarantees and liquidated damages and performance bond provided by any
party to the Project Documents; and all of the right, title, interest, benefits, claims and demands, whatsoever, of the Borrower in, to
or under all Insurance Contracts Project Assets shall not form part of the Security.
3. Non Current Term Loans From Others
Loan from IRCON International Limited
Loan from IRCON International Limited consist H 10.87 crore (H10.06 crore) of M/s Chhattisgarh East - West Railway Limited
(CEWRL) which are secured by first charge on all infrastructures to be created/ developed and all future receivables of borrower
Repayment period of loan would be of 5 years excluding moratorium period not exceeding five years from the date of signing
of Loan Agreement. Rate of interest are @8.65% per annum upto 07.09.2020 and 8.25% per annum w.e.f 08.09.2020 with
compounding at quarterly rests.
002-115 116-332 333-513

NOTE - 18 : BORROWINGS (Contd..)
Loan from CSIDCL
Loan from CSIDCL consist H4.20 crore (H3.88 crore) of M/s Chhattisgarh East - West Railway Limited (CEWRL) which are
secured by first charge on all infrastructures to be created/ developed and all future receivables of borrowers. Repayment period
of loan would be of 5 years excluding moratorium period not exceeding five years from the date of signing of Loan Agreement.
Rate of interest are @8.65% per annum upto 07.09.2020 and 8.25% per annum w.e.f 08.09.2020 with compounding at quarterly
rests.
4. In case of security on current assets:
Physical quantity of finished goods and work-in-progress are ascertained and taken from the production and other records
maintained and are valued at each quarter based on the policy followed in this respect by the Group. The Quarterly Return/
Statements submitted to banks for current assets include these inventories and figures of other current assets taken and
complied from the books and records and as such are in agreement therewith.
NOTE - 19 : TRADE PAYABLES

H in crore
As at As at
31-03-2023 31-03-2022
Current
Total outstanding dues of micro, small and medium enterprises 53.90 42.54
Total outstanding dues of Creditors other than micro, small and medium enterprises 8,495.28 8,560.99
TOTAL 8,549.18 8,603.53
1. Credit period:- Payment toward Trade payables is made as per the terms and condition of the contract of purchase order.
2. Disclosure of Sundry Creditors under Trade Payables is based on the information available with the company regarding the
nature of the suppliers as defined under the Micro, Small and Medium Enterprise Development Act, 2006 (the Act).
3. Trade Payables aging schedule
As at 31-03-2023

year years
i) MSME 53.90 - - - 53.90
ii) Others 7,604.68 529.14 117.47 168.28 8,419.57
iv) Disputed dues -Others - - - 75.71 75.71
v) Unbilled dues - - - - -
Total 7,658.58 529.14 117.47 243.99 8,549.18
As at 31-03-2022

year years
i) MSME 42.54 - - - 42.54
ii) Others 7,671.55 375.39 137.08 295.31 8,479.33
iv) Disputed dues -Others - - - 81.66 81.66
v) Unbilled dues - - - - -
Total 7,714.09 375.39 137.08 376.97 8,603.53

NOTE - 20 : OTHER FINANCIAL LIABILITIES
H in crore
As at As at
31-03-2023 31-03-2022
NON-CURRENT
Security Deposits 3,201.38 2,470.80
Others 6.19 7.04
TOTAL 3,207.57 2,477.84
CURRENT
Current Account of IICM - 0.21
Unpaid dividends1 15.50 15.18
Security Deposits 1,514.17 1,875.24
Earnest Money 720.48 559.34
Payable for Capital Expenditure5
a. Total outstanding dues of micro, small and medium enterprises - -
b. Total outstanding dues of Creditors other than micro, small and medium enterprises 5,169.81 3,757.12
Liability for Employee Benefits 3,825.46 3,654.10
Others2&3 1,569.77 1,569.88
TOTAL 12,815.19 11,431.07
1. During the FY 2022-23 an amount of H NIL (P.Y. H0.71 crore) in respect of final dividend of FY 2014-15 which has been transferred
to Investor Education and Protection Fund (IEPF) as the same remained unpaid and unclaimed for a period of seven years from
the date of transfer of such dividend to unpaid dividend account.
2. Other financial liabilities - Current includes H 663.03 crore (H656.54 crore) relating to amount realized from customers and
employees on account of cases pending before various courts/arbitration with interest earned on bank deposits related to such
liabilities in South Eastern Coalfields Limited.
3. Others above includes unspent CSR expenses (Refer Annexure to Note - 29 CSR Expenses)
5. There are no dues to Micro and Small enterprises as at 31st march, 2023. This information as required to be disclosed under
the Micro, Small and Medium Enterprise Development Act, 2006 has been determined to the extent such parties have been
identified on the basis of information available with the Group.
6. As available from web page of Ministry of Corporate Affairs, charges against assets in respect of secured loans taken have been
registered with ROC.
Subsidiary Companies have a system of filing the charge satisfaction e-form with MCA wherever applicable, within the timelines,
as and when it receives NOCs from the respective charge holders.
H in crore
As at As at
31-03-2023 31-03-2022
NON-CURRENT
Employee Benefits
Gratuity 1,057.05 2,376.24
Leave Encashment 1,425.65 1,088.28
Post Retirement Medical Benefits 1,780.75 2,281.66
Other Employee Benefits 304.26 292.21
4,567.71 6,038.39
Other Provisions
Site Restoration/Mine Closure1 7,784.22 7,238.71
Others 0.01 0.01
TOTAL 68,827.95 65,944.00
002-115 116-332 333-513

NOTE - 21 : PROVISIONS (Contd..)
H in crore
As at As at
31-03-2023 31-03-2022
CURRENT
Employee Benefits
Gratuity 1,062.05 1,395.96
Leave Encashment 402.06 303.77
Ex- Gratia 1,724.82 1,809.68
Performance Related Pay 1,963.30 1,434.27
Other Employee Benefits2 9,359.53 1,090.86
14,721.25 6,206.20
Other Provisions
Others 242.13 18.19
TOTAL 14,963.38 6,224.39
1. Provision for Site Restoration/Mine Closure
The Group's obligation for land reclamation and decommissioning of structures consists of spending at both surface and
underground mines in accordance with the guidelines from Ministry of Coal, Government of India. The estimate of obligation for
Mine Closure, Site Restoration and Decommissioning based upon detailed calculation and technical assessment of the amount
and timing of the future cash spending to perform the required work. Mine Closure expenditure is provided as per approved
Mine Closure Plan. The estimates of expenses are escalated for inflation, and then discounted at a discount rate (@8%) that
reflects current market assessment of the time value of money and the risks, so that the amount of provision reflects the present
value of the expenditures expected to be required to settle the obligation. The value of the provision is progressively increased
over time as the effect of discounting unwinds; creating an expense recognised as financial expenses. In reference to above
guidelines for preparation of mine closure plan, an escrow account has been opened. (Refer Note - 9)
Reconciliation of Reclamation of Land/ Site restoration /Mine Closure :

H in crore
As at As at
31-03-2023 31-03-2022
Site restoration provision on opening date 7,238.71 6,731.50
Addition of Site restoration Provision 282.97 422.67
Add: Unwinding of Provision charged during the period 504.75 449.99
Less: Withdrawal during the period 242.21 365.45
Mine Closure Provision 7,784.22 7,238.71
2. Pending finalization of the National Coal Wages Agreement (NCWA-XI) for Non-Executives, considering the total impact of the
increase in all elements of salary and wages an estimated provision of H9252.24 crore (includes H 1080.97 crore carried from
earlier years) @ H 19,100/- per employee (Non-Executive) per month has been recognized for the period from 01.07.2021 to
31.03.2023 (P.Y. H 1080.97 crore).
The financial assumptions in the actuarial valuation of long-term benefits of the non-executive employees consider a 6.25% p.a.
of increase in salary for all benefits set out in the formal terms of the plan, this includes NCWA also. Refer footnote 1 of Note 28
Employee Benefit Expenses.
3. For movement in Provision -refer note no 38(8) (a)


NOTE - 22 : OTHER NON CURRENT LIABILITIES
H in crore
As at As at
31-03-2023 31-03-2022
Shifting and Rehabilitation Fund1&2 5,918.97 5,872.67
Deferred Income (Government Grant) 592.06 653.97
Others 315.96 1.07
TOTAL 6,826.99 6,527.71
NOTE - 23 : OTHER CURRENT LIABILITIES

H in crore
As at As at
31-03-2023 31-03-2022
Statutory Dues 8,611.42 7,880.54
Advance from customers / others 20,685.04 20,302.51
Cess Equalization Account1 2,634.24 2,645.38
Others liabilities2 383.24 68.89
TOTAL 32,313.94 30,897.32
1. In case of ECL in the process of making payment of Cess on the annual value of coal bearing land based on the average
production of preceding two years valuing at a rate prevailing as on 1st April of each year and realisation made from customers
on the value of despatches of Coal considering the sale price prevailing on 31st March of the previous financial year, there remains
a balance payable amounting to H 1750.61 crore ( H 1853.29 crore ) which has been shown under Cess Equalisation Account.
2. The above Includes H 0.11 crore (P.Y. H 0.11 crore) towards Government grants in respect of Holding company.
NOTE - 24 : REVENUE FROM OPERATIONS

H in crore
Ended 31-03-2023 Ended 31-03-2022
Sales
Sales 1,87,455.57 1,52,603.30
Less: Statutory Levies 59,828.10 52,040.73
Sales (Net) (A) 1, 2&3 1,27,627.47 1,00,562.57
Other Operating Revenue
Subsidy for Sand Stowing and Protective Works 3.38 1.46
Loading and additional transportation charges 6,449.90 5,498.26
Less : Statutory Levies 311.33 261.87
6,138.57 5,236.39
Evacuation Facility Charges 4,369.60 3,813.56
4,161.38 3,632.07
Revenue from other services4 367.20 327.47
321.11 282.93
Other Operating Revenue (Net) (B) 10,624.44 9,152.85
Revenue from Operations (A+B) 1,38,251.91 1,09,715.42
1. Net sales (net of levies) includes H617.46 crore (P.Y. H 349.36 crore) on sale of 23.26 Lakh Tonne (P.Y. 27.13 Lakh Te) coal related
to Gare Palma IV/2&3 Mine and Nil (P.Y. HNil) on sale of 0.00 Lakh Tonne (P.Y. 0.00 Lakh Te) coal of Gare Palma IV/1 for which
Coal India Limited has been appointed custodian akin to a designated custodian w.e.f 01.04.2015 through SECL. As directed
by Ministry of Coal vide letter dated 21st April, 2013 to stop the extraction of Coal from Gare Palma IV/2 and 3 in the capacity
of custodian w.e.f. 22.04.2023.
002-115 116-332 333-513

NOTE - 24 : REVENUE FROM OPERATIONS (Contd..)
2. Sale of Coal above has been increased/(decreased) by estimated Coal Quality variance (Net of reversal) of H259.57 (P.Y. H 73.90
crore)
3. Sales also include sale of imported coal quantity 357006.5 tonne amounting to H469.74 crore for the year ended 31-03-2023
(P.Y. H NIL crore).
4. Revenue from other services mainly includes consultancy and other services provided by CMPDIL, a subsidiary of CIL.
NOTE - 25 : OTHER INCOME

H in crore
Ended 31-03-2023 Ended 31-03-2022
Interest Income1 3,069.09 1,612.55
Dividend Income from Mutual funds - 11.01
Other non-operating income (Net of expenses directly attributable to such income)
Profit on Sale of Assets 28.13 -
Gain on Sale of Mutual Fund 338.35 138.42
Lease Rent2 39.28 31.08
Liability/Provision Written Back (Net) 1,699.19 1,186.15
Fair value changes (Net) (33.43) 109.07
Miscellaneous Income3 1,410.05 793.13
TOTAL 6,550.66 3,881.41
1. Includes interest on income tax refund H 183.36 crore (P.Y. H446.05 crore)
2. Refer Note 38 (8) (e)
3. Increase in Miscellaneous income by H617 crore due to penalty recovered from Customer and Contractor, Forfeiture of EMD/SD,
booking of LD etc.
NOTE - 26 : COST OF MATERIALS CONSUMED

H in crore
Ended 31-03-2023 Ended 31-03-2022
Explosives 5,655.13 3,121.33
Timber 14.66 14.48
Oil and Lubricants 5,284.00 4,298.74
HEMM Spares 1,435.27 1,112.04
Other Consumable Stores and Spares 1,167.94 896.92
TOTAL 13,557.00 9,443.51
NOTE - 27 : CHANGES IN INVENTORIES OF FINISHED GOODS, WORK IN PROGRESS AND STOCK IN

TRADE
H in crore
Ended 31-03-2023 Ended 31-03-2022
Change in Inventory of coal
Opening Stock of Coal 5,413.13 7,616.00
Opening Stock brought to Revenue - 3.08
Closing Stock of Coal 6,079.18 5,413.13
(666.05) 2,205.95
Change in Inventory of workshop
Opening Stock of Workshop made finished goods ,WIP and Press Jobs 91.87 194.41
Closing Stock of Workshop made finished goods and WIP and Press Jobs 103.94 91.87
(12.07) 102.54
TOTAL (678.12) 2,308.49
1. Opening Stock of Coal in mines under development have been transferred to revenue during the previous period as certain
mines under development in WCL have become operational as per policy of the company.

NOTE - 28 : EMPLOYEE BENEFITS EXPENSES
H in crore
Ended 31-03-2023 Ended 31-03-2022
Salary and Wages (including allowances and bonus etc.)1 38,644.35 30,534.07
Contribution to Provident Fund and Other Funds2 8,369.00 7,905.73
Staff welfare Expenses 2,395.81 2,033.41
TOTAL 49,409.16 40,473.21
1. Salary and Wages includes NCWA XI provision of H 8152.75 crore (excluding H18.52 crore for capitalised in other mining
infrastructure) (P. Y. H 1080.97 crore). Refer footnote 2 of Note 21.
2. The above includes compensatory interest on executive defined compensation contribution pension scheme.
NOTE - 29 : CORPORATE SOCIAL RESPONSIBILITY EXPENSE

H in crore
Ended 31-03-2023 Ended 31-03-2022
CSR Expenses1 586.50 548.98
TOTAL 586.50 548.98
1. In case of holding company, Excess CSR expenses of H 86.89 crore carried forward as advance upto 31.03.2022 and remained
unutilised has been charged off during the year.
Annexure to Note 29 : CSR Expenses (incurred in cash)

H in crore
A. CSR required to be spent and CSR Expenditure Break-up 2022-23 2021-22
(a) Amount Required to be spent during the year 447.32 459.27
(b) Amount approved by the Board to be spent during the year 591.75 648.98
(c) Amount spent during the year on:
(i) Construction/Acquisition of any asset 237.71 250.05
(ii) on purposes other than (i) above 264.16 336.16
Total 501.87 586.21
H in crore
B. Reconciliation of CSR Expenses recognised and CSR Expenses spent 2022-23 2021-22
CSR Expenses Spent 501.87 586.21
Less: Excess carried forward/(Utilised/charged off) during the year (72.53) 52.53
Add: Unspent CSR expense on ongoing projects 12.10 15.3
Add: Unspent CSR expense on other than ongoing - 0
Amount recognised in P&L 586.50 548.98
H in crore
C. Unspent amount Other than ongoing Project [Section 135(5)] 2022-23 2021-22
Opening Balance - -
Deposited in specific fund of sch. VII within 6 months - -
Amount required to be spent during the year - -
Amount Spent During the year - -
002-115 116-332 333-513

Annexure to Note 29 : CSR Expenses (Contd..)
D. Excess amount spent [Section 135(5)]1
Year wise Details 2022-23 2021-22 2020-21
Opening Balance 198.42 135.50 -

Amount required to be spent during the year 382.28 388.56 299.79
Amount spent/charged-off2 during the year 309.75 451.48 435.29
Closing Balance 125.89 198.42 135.50
1. Represents excess CSR expenses carried forward as per section 135 (5) of the companies Act, 2013 for Northern Coalfields
Limited, South Eastern Coalfields Limited, Mahanadi Coalfields Limited, Central Mine Planning and Design Institute Limited,
Coal India Limited.
2. Refer footnote 1 to Note 29 Corporate Social Responsibility Expense
H in crore
E. Unspent Ongoing Project [Section 135(6)] (year-wise) 2022-23 2021-22
Opening balance With Company - -
In Separate CSR Account - 20.13
Amount required to be spent during the year 43.39 -
Amount spent during the year from companies bank account 33.23 -
In Separate CSR Account - 7.04
Closing balance With Company - -
In Separate CSR Account 10.16 13.09
Provision for Liability of CSR Expenses 2022-23

Opening Balance 122.34
Addition during the period 91.76
Adjustment during the year 104.33
Closing Balance 109.77
The above information have been compiled on line to line basis from the audited financial statements of subsidiary companies.
NOTE - 30 : REPAIRS
H in crore
Ended 31-03-2023 Ended 31-03-2022
Building 884.36 758.18
Plant and Equipment 856.81 845.15
Others 31.11 29.00
TOTAL 1,772.28 1,632.33
NOTE - 31 : CONTRACTUAL EXPENSES

H in crore
Ended 31-03-2023 Ended 31-03-2022
Transportation Charges 5,267.41 4,579.63
Wagon Loading 268.04 276.11
Hiring of Plant and Equipments 17,376.52 13,591.48
Other Contractual Work 258.60 282.07
Contractual Expenses in CMPDI1 118.64 145.87
TOTAL 23,289.21 18,875.16
1. Drilling and exploration etc. contractual works awarded by CMPDI to vendors outside group companies.

NOTE - 32 : FINANCE COSTS
H in crore
Ended 31-03-2023 Ended 31-03-2022
Interest Expenses
Unwinding of discounts 546.09 456.81
Fair value changes (net) 10.67 53.50
Other Borrowing Costs 127.55 31.18
TOTAL 684.31 541.49
H in crore
Ended 31-03-2023 Ended 31-03-2022
Doubtful debts 334.23 106.74
Doubtful Advances 26.44 5.73
Stores and Spares 14.26 42.54
Others - 17.76
TOTAL 374.93 172.77
NOTE - 34 : WRITE OFF ( Net of past provisions )

H in crore
Ended 31-03-2023 Ended 31-03-2022
Doubtful debts 191.90 16.58
Less :- Provided earlier - 16.58
191.90 -
Doubtful advances 0.67 4.08
Less :- Provided earlier - 3.94
0.67 0.14
Others 21.47 11.42
Less :- Provided earlier 21.44 -
0.03 11.42
TOTAL 192.60 11.56
NOTE - 35 : OTHER EXPENSES

H in crore
Ended 31-03-2023 Ended 31-03-2022
Travelling expenses 228.20 117.61
Training Expenses 57.39 44.06
Telephone and Internet 165.41 110.30
Advertisement and Publicity 33.44 26.70
Freight Charges 34.92 28.51
Demurrage 80.25 88.65
Security Expenses 1,328.97 1,210.86
Legal Expenses 28.17 21.62
Consultancy Charges 43.34 60.22
Under Loading Charges 477.62 593.82
Loss on Sale/Discard/Surveyed of Assets - 15.48
Auditor's Remuneration and Expenses
For Audit Fees 2.66 2.71
For Taxation Matters 0.29 0.24
For Other Services 1.31 1.35
For Reimbursement of Expenses. 1.18 1.46
002-115 116-332 333-513

NOTE - 35 : OTHER EXPENSES
H in crore
Ended 31-03-2023 Ended 31-03-2022
Internal and Other Audit Expenses 23.85 22.96
Rehabilitation Charges 416.69 397.16
Lease Rent and Hiring Charges1 592.27 544.13
Rates and Taxes 800.47 520.87
Insurance 9.54 7.67
Loss on Exchange rate variance 4.55 7.17
Other Rescue/Safety Expenses 32.83 28.81
Siding Maintenance Charges 120.58 88.47
Research , Development and Survey expenses 131.47 31.82
Environmental and Tree Plantation Expenses 355.50 254.53
Donations, Rewards and Grant 87.30 14.39
Miscellaneous expenses 833.54 791.34
TOTAL 5,891.74 5,032.91
1. Refer Note 38 (8) (e)
NOTE - 36 : TAX EXPENSE

H in crore
Ended 31-03-2023 Ended 31-03-2022
Current Year 9,321.36 6,235.80
Earlier Years 68.39 21.32
Total current tax 9,389.75 6,257.12
Deferred tax 486.12 (19.26)
TOTAL 9,875.87 6,237.86
Reconciliation of Tax Expenses:

H in crore
Ended 31-03-2023 Ended 31-03-2022
Profit/(Loss) before tax 38000.81 23616.28
At income tax rate of 25.168% (31.03.2022: 25.168%) 9,564.04 5,943.75
Less: Tax on exempted Income 13.38 16.08
Add: Tax on non-deductible expenses/(Additional expenses allowed for tax purpose) 256.82 288.87
Adjustment for earlier year tax 68.39 21.32
Income Tax Expenses reported in statement of Profit and Loss 9,875.87 6,237.86
Effective income tax rate : 25.99% 26.41%
Refer Note 38 (8) (b) for component of deferred tax assets/ (liabilities)
NOTE - 37 : OTHER COMPREHENSIVE INCOME

H in crore
Ended 31-03-2023 Ended 31-03-2022
Items that will not be reclassified to profit or loss
Remeasurement of defined benefit plans1 353.40 90.28
353.40 90.28
Income tax relating to items that will not be reclassified to profit or loss
Remeasurement of defined benefit plans (88.94) (39.19)
(88.94) (39.19)

NOTE - 37 : OTHER COMPREHENSIVE INCOME (Contd..)
H in crore
Ended 31-03-2023 Ended 31-03-2022
Items that will be reclassified to profit or loss
Share of OCI in Joint ventures 0.03 0.22
Exchange differences in translating the financial statements of a 0.14 -
foreign operation
0.17 0.22
TOTAL 264.63 51.31
1. Represents figure in respect of Gratuity H 357.24 crore (P.Y. H 110.11 crore ) and for post retirement medical benefits H -3.83 crore
(P.Y. H -19.83 crore).
NOTE – 38: ADDITIONAL NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR
ENDED 31-03-2023
1 a) Contingent Liabilities
I. Claims against the group not acknowledged as debt (to the extent not provided for)
(J in crore)
State Central
Central
Government and Public Sector Others Total
Government
Local authorities Enterprises
Opening as on 01.04.2022 37,056.69 57,479.87 50.31 4,638.84 99,225.71
Addition during the period 12,029.53 780.08 - 2,347.11 15,156.72
Claim settled during the period:
a. From Opening Balance 4,558.29 44,755.47 1.13 458.67 49,773.56
b. Out of addition during the period 3.24 0.31 - 5.42 8.97
Closing as on 31-03-2023 44,524.69 13,504.17 49.18 6,521.86 64,599.90
(J in crore)
State Central
Central
Government and Public Sector Others Total
Government
Local authorities Enterprises
Opening as on 01.04.2021 34,396.39 55,917.03 50.31 4,026.38 94,390.11
Addition during the period 3,901.27 1,783.27 - 742.32 6,426.86
Claim settled during the period:
a. From Opening Balance 1,240.96 176.80 - 129.86 1,547.62
b. Out of addition during the period 0.01 43.63 - - 43.64
Closing as on 31-03-2022 37,056.69 57,479.87 50.31 4,638.84 99,225.71
Contingent Liability
(J in crore)
Sl.
Particulars 31-03-2023 31-03-2022
No.
1 Central Government
Income Tax 33,607.44 27,156.15
Central Excise 5,034.55 5,033.94
Clean Energy Cess 3,135.86 2,444.65
Central Sales Tax 1,674.01 1,780.11
Service Tax 693.41 634.04
Others (Please Specify) 379.42 7.80
Sub-Total 44,524.69 37,056.69
2 State Government and Local Authorities
Royalty 3,900.48 4,024.31
Environment Clearance 2,915.04 46,188.70
Sales Tax/VAT 3,056.91 3,091.71
002-115 116-332 333-513

ENDED 31-03-2023 (Contd..)
(J in crore)
Sl.
Particulars 31-03-2023 31-03-2022
No.
Entry Tax 783.35 764.69
Electricity Duty 91.26 114.34
MADA 420.73 475.36
Others 2,336.40 2,820.76
Sub-Total 13,504.17 57,479.87
3 Central Public Sector Enterprises
Arbitration Proceedings - 1.13
Suit against the company under litigation 0.15 0.15
Others(Please Specify) 49.03 49.03
Sub-Total 49.18 50.31
4 Others: (If any)
Miscellaneous - Land and Others 5,278.69 3,744.20
Employee Related Etc. 1,243.17 894.64
Sub-Total 6,521.86 4,638.84
Grand Total 64,599.90 99,225.71
The Group’s pending litigation comprises of claim against the Group and proceeding pending tax/stautory/Government
authorities. The Group has reviewed all its pending litigations and proceedings and has made adequate provisions, and
disclosed the contingent liabilities, where applicable, in its Consolidated Financial Statements. The Group does not expects
the outcome of these proceedings to have a material impact on its financial position. Future cash outflows in respect of
above are dependent upon th outcome of judgements/decisions.
Contingent Assets: A contingent asset is a possible asset that arises from past events and whose existence will be confirmed
only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity.
During the normal course of business, several unresolved claims are currently outstanding. The inflow of economic benefits,
in respect of such claims cannot be measured due to uncertainties that surround therelated events and circumstances.
Coal India Limited - Consolidated
The Competition Commission of India (CCI), on the basis of complaints by few coal customers (called as ‘informant’
in the case) against certain conducts of M/s Coal India Limited, M/s Western Coalfields Limited, M/s South Eastern
Coalfields Limited, M/s Mahanadi Coalfields Limited (called as ‘opposite’ party in the case) heard the case and vide its
order dated 09.12.2013, had inter-alia imposed a penalty of H1773.05 crore. The appeal against the above order was filed
with Competition Appellate Tribunal and as per their judgement dated 17.05.2016 appeal of Coal India Limited has been
allowed, impugned orders of CCI have been set aside and the matters are remitted back to the Commission for deciding the
issues arising out of the information afresh. The CCI passed the fresh impugned Order on 24th March,2017 with a reduction
of penalty to H 591.01 crore. Coal India Ltd. has filed appeal before the NCLAT against the Fresh Impugned Order and a stay
has been granted on the operation of Impugned Order.

Demand of State of Jharkhand and District Mining Officer Dhanbad as penalty for illegal or unlawful Mined Mineral under
MMDR Act 1957: Government of Jharkhand has raised a demand under Mines and Minerals (Development and Regulation)
Act, 1957 as a penalty for illegally or unlawfully mined mineral of H 2,178.14 crore. State of Jharkhand and District Mining
Officer, Dhanbad had issued 11 Demand notices to Rajmahal area, S.P Mines and Mugma area claiming the penalty
mentioned above. CGM (GM I/C), Rajmahal, SP Mine, Mugma Area of ECL have filed 11 Revision Application challenging
the Demand notices issued by the State of Jharkhand regarding alleged violation before the Revisional Authority, Ministry
of Coal, Government of India.
Revisional Authority, Hon’ble Coal tribunal, Ministry of Coal vide order dated 22.01.2018, has stayed the demand
notices, till further order. Further, Revisional Authority, Hon’ble Coal tribunal, Ministry of Coal has directed that no
Coercive action shall be taken against the Applicant by the respondents pursuant to the impugned demand notices.
Counter affidavit was submitted to Government of Jharkhand in this matter and hearing was held on 12.04.2022 by the
Revisional Authority, Hon’ble Coal Tribunal, Ministry of Coal vide its order dated 29.06.2022 has set aside the order passed
by the State of Jharkhand and the matter has been remanded back to the respondent to proceed in accoedance with law
and take the fresh decision in the matter.

ENDED 31-03-2023 (Contd..)
Bharat Coaking Coal Limited
i) Demand notices amounting to H17344.46 crore have been issued in respect of 47 Projects/Mines/Collieries of the
Company by State Government in pursuance of the judgment dated 02.08.2017 of Hon’ble Supreme Court of India
vide W.P. (C) No. 114 of 2014 in Common Cause vs. Union of India &Ors. It has been alleged that Coal Production
have been undertaken either without Environmental Clearance, Forest Clearance, Consent to operate and/or NOC/
Consent to Establish or beyond the approved limits of production given under such clearances. The execution of the
above demand notices is stayed in exercise of the power under rule 55(5) of Mineral Concession Rules, 1960 read with
Sec 30 of the MMDR Act, till further order. Accordingly, the above amount has been shown as Contingent Liability. An
order dated 03.11.2022 issued by JS&RA under Section 30 of MMDR Act, 1957 set aside demand notice amounting to
H9641.56 crore in respect of 20 projects/mines/Collieries of the Company.
ii) In BCCL, due to dispute on Lease Agreement of Captive Power Plant (WJ Area), the Service Tax on outstanding Lease
Rent from 2nd Year of 2014-15 (Service Tax for the 1st Year of 2014-15 on the corresponding outstanding Lease Rent
already paid) to 3rd Year of 2015-2016 (Plant handed over to the Company on 15.12.2016) amounting to H1.06 crore
has been shown under Contingent Liability.
iii) BCCL has preferred a writ petition bearing no. WP(T)3583 of 2015 before Hon’ble Jharkhand High Court against
Demand Notice from Dhanbad Municipal Corporation for payment of Holding Tax amounting to H252.23 crore. Since
the matter is sub-judice the same has been shown as Contingent Liability under the head “Holding Tax”.
iv) As per the terms of Agreement, there are Receivables from DLF against cost of supply of (i) rejects and (ii) start-up/
back up / emergency power by Madhuban Coal Washery (MCW) to DLF and Payables to DLF for Energy received by
MCW from Captive Power Plant (CPP) installed by DLF. The matter is sub-judice-one at Dhanbad Court and another
at Appellate Tribunal for Electricity, New Delhi--on account of disputes over price/quality of rejects vis-à-vis below
guaranteed performance of CPP. Accordingly, Interest receivable/payable on net outstanding has not been accounted
for at this stage. However, the net interest @ 18% p.a simple upto 31st December, 2022 comes to H35.46 crore (upto
31st March, 2022 H 33.54 crore) payable to DLF and has so been considered as Contingent Liability.
Following the judgment of the Hon’ble Supreme Court of India in the case of Common Cause vs. UOI and Others (W.P.
(C) No. 114 of 2014), certain District Mining Officers of Jharkhand, issued demand notices in 42 projects, alleging the
production in these projects exceeding the available Environmental Clearances limits.
The Company has duly filed revision petition against the above demands, before the Hon’ble Coal Tribunal, Ministry of
Coal, Government of India, the adjudicating authority under the MMDR, Act. The Revisional Authority Ministry of Coal
Government of India in their interim order dated 16.01.2018 has admitted the revision application and stayed the execution
of the demand order of H13568.50 ( H13568.50 crore) till further order.
CCL has evaluated the demand notice of compensation, the possibility of an outflow of resources in the settlement is
remote and accordingly the same has not been considered as contingent liability for the purpose of reporting.
Collector –Raigarh & Korba and Koriya have issued show cause / demand notices demanding H10182.64 crore for excess
production beyond the limit of Environment clearance, Mining plans and Section 21(5) of the MMDR Act etc. Replies /
Appeal to some notices has been submitted to respective collectors and some replies are under process for legal vetting.
II. Guarantee
As on 31-03-2023 Bank guarantee issued is H 4227.27crore (P.Y.H 4106.33 crore).
III. Letter of Credit
As on 31-03-2023 outstanding letter of credit is H 2061.65 crore (P.Y. H 2268.39 crore).

002-115 116-332 333-513

ENDED 31-03-2023 (Contd..)
b) Commitments
Estimated amount of contracts remaining to be executed on capital account and not provided for : H 22640.61 crore (P.Y.
H 15082.02 crore) (net of advances H 5271.43 crore (P.Y.H 3310.58 crore)).
Other Commitments: H 72623.17 crore (P.Y. H 56511.27 crore).
2 Related Party informations
a) Group Information
S. Country of % Equity Interest

Name of Entity Principal activities
1 Eastern Coalfields Limited (ECL) Coal mining India 100% 100%
2 Bharat Coking Coal Limited (BCCL) Coal mining India 100% 100%
3 Central Coalfields Limited (CCL) Coal mining India 100% 100%
4 Northern Coalfields Limited (NCL) Coal mining India 100% 100%
5 Western Coalfields Limited (WCL) Coal mining India 100% 100%
6 South Eastern Coalfields Limited (SECL) Coal mining India 100% 100%
7 Mahanadi Coalfields Limited (MCL) Coal mining India 100% 100%
8 CMPDI Limited (CMPDI) Consultancy support in Coal India 100% 100%
and Mineral exploration
9 Coal India Africana Limitada, Coal mining Mozambique Quota Quota
Mozambique (CIAL) Capital Capital
10 CIL Solar Pvt. Ltd. (CSPL) Solar Energy India 100% 100%
11 CIL Navikarniya Urja Limited (CNUL) Renewable Energy India 100% 100%
S. Country of % Equity Interest

1 International Coal Venture Private Limited (ICVL) Coal India 0.19% 0.19%
2 CIL NTPC Urja Private Limited (CNUPL) Energy India 50.00% 50.00%
3 Talcher Fertilizers Limited (TFL) Fertiliser India 33.33% 33.33%
4 Hindustan Urvarak and Rasayan Limited (HURL) Fertiliser India 33.33% 33.33%
5 Coal Lignite Urja Vikas Private Limited (CLUVPL) Energy India 50.00% 50.00%
iii) Post Employment Benefit Funds and others
S. Country of
No. Incorporation
1 Coal India Employees Gratuity Fund Trust India
2 Coal Mines Provident Fund (CMPF) Statutory body under the India
control of Ministry of Coal, GoI
3 Coal India Superannuation Benefit Fund Trust Trust India
4 Contributory Post Retirement Medicare Scheme for Non- Trust India
Executives Modified
5 CIL Executive Defined Contribution Pension Trust Trust India
6 Indian Institute of Coal Management (IICM) Registered Society India
7 Coal India Sports Promotion Association (CISPA) Registered Society India

ENDED 31-03-2023 (Contd..)
iv) Key Managerial Personnel
Coal India Limited
Name Designation W.e.f

Shri Pramod Agrawal Chairman-Cum-Managing Director 01.02.2020
Director (Finance) - Add. Charge 29.12.2021 - 28.12.2022
Dr. B. Veera Reddy Director (Technical) 01.02.2022
Director(Marketing) Addl. Charge 01.05.2022 - 22.12.2022
Director (Finance) - Addl. Charge 29.12.2022
Shri S. N. Tiwary Director(Marketing) 01.12.2019 - 30.04.2022
Shri Mukesh Choudhary Director(Marketing) 23.12.2022
Shri Debasish Nanda Director (Business Development) 11.07.2022
Shri Vinay Ranjan Director(Personnel) 28.07.2021
Prof. G. Nageswara Rao Independent Director 01.11.2021
Dr. Arun Kumar Oraon Independent Director 05.11.2021
Shri Kamesh Kant Acharya Independent Director 02.11.2021
Shri Denesh Singh Independent Director 01.11.2021
Shri Makwana P Kalabhai Independent Director 02.11.2021
Shri B. Rajeshchander Independent Director 01.11.2021
Capt Ghanshyam Singh Rathore Independent Director 01.03.2023
Shri V. K. Tiwari Government Nominee Directors 29.11.2019 - 21.02.2023
Shri Nagaraju Maddirala Government Nominee Directors 22.02.2023
Smt. Nirupama Kotru Government Nominee Directors 15.06.2021
Shri S.K. Mehta CFO 01.01.2022
Shri M Viswanathan Company Secretary 14.12.2011 - 30.09.2022
Shri B. P. Dubey Company Secretary 21.10.2022

Shri Ambika Prasad Panda Chairman-Cum-Managing Director 01.02.2022
Shri Jaiprakash Gupta Director (Technical) P&P 18.06.2018
Md. Anzar Alam Director (Finance) 15.09.2022
Dr. B.Veera Reddy Part-time Official Director 12.05.2022
Ms. Ahuti Swain Director (Personnel) 18.11.2022
Shri Sanjay Kumar Singh Director (Technical/Operations) - Add. Charge 01.12.2022 - 31.01.2023
Shri Uday Anantrao Kaole Director (Technical/P&P) - Add. Charge 01.12.2022 - 08.12.2022
Shri Nilendu kumar Singh Director (Technical/P&P) 09.12.2022
Shri Niladri Roy Director (Technical/Operations) 01.02.2023
Shri Animesh Bharti Economic Adviser, MoC,Part-time Official Director 17.03.2020- 04.07.2022
Shri Hara Kumar Hajong Economic Adviser, MoC,Part-time Official Director 05.07.2022
Shri S. N. Tiwary Part-time Official Director 05.07.2021 - 30.04.2022
Shri Anil Kumar Ganeriwala Independent Director 10.07.2019 - 09.07.2022
Smt. Dharmshila Gupta Independent Director 01.11.2021
Shri Shiv Narayan Pandey Independent Director 01.11.2021
Shri Shiv Tapasya Paswan Independent Director 01.11.2021
Shri Sarad Kumar Somani CFO 04.02.2022-14.09.2022
Shri Rambabu Pathak Company Secretary 02.07.2018
002-115 116-332 333-513

ENDED 31-03-2023 (Contd..)

Shri Samiran Dutta Chairman-Cum-Managing Director 28.12.2021
Director (Finance) Add.Charge 18.07.2019 - 14.04.2023
Director (Personnel) Add.Charge 01.08.2022 - 31.10.2022
Shri P.V.K.R. Mallikarjuna Director (Personnel) 01.06.2020-31.07.2022
Shri Harsh Nath Mishra Director (Personnel) 01.11.2022 - 22.02.2023
Shri Murli Krishna Ramaiah Director (Personnel) 23.02.2023
Shri Sanjay Kumar Singh Director (Technical/P&P/OP) 05.02.2022
Shri Uday Anantrao Kaole Director (Technical/P&P) 22.08.2022
Shri Rakesh Kumar Sahay Director (Finance) 14.04.2023
Dr. B. Veera Reddy Part time Director, (D(T) CIL 24.02.2022-23.08.2022
Shri Anandji Prasad Part time Director (Project Advisor, 03.01.2022
MOC, Government Nominee)
Shri Debasish Nanda Part time Director (Director (BD),CIL) 23.08.2022
Lt. General Narendra Singh Independent Director 10.07.2019 - 09.07.2022
Smt. Sashi Singh Independent Director 01.11.2021
Shri Alok Kumar Agarwal Independent Director 01.11.2021
Shri Satyabrata Panda Independent Director 01.11.2021
Shri Ram Kumar Roy Independent Director 31.03.2022
Shri B.K. Parui Company Secretary 30.08.2013

Shri Mallikharjuna Prasad Polavarapu Chairman-cum-Managing Director 01.09.2020
Shri Ram Baboo Prasad Director (Technical/Operations) 14.05.2022
Shri K.R. Vasudevan Director (Finance) 01.07.2021 - 09.06.2022
Shri Pawan Kumar Mishra Director (Finance) 10.06.2022
CFO 24.08.2022
Shri PVKR Mallikarjuna Rao Director (Personnel) 23.07.2021-31.07.2022
Shri Harsh Nath Mishra Director (Personnel) 24.08.2022
Shri S K Gomasta Director (Technical/P&P) 01.11.2021 - 25.10.2022
Shri B. Sairam Director (Technical/P&P) 26.10.2022
Ms. Santosh Part time Director, Dy. Director General, MoC 03.01.2022
Shri Ajitesh Kumar Part time Government Nominee Director 22.02.2023
Shri Harbans Singh Independent Director 10.07.2019 - 09.07.2022
Smt. Jajula Gowri Independent Director 10.07.2019 - 09.07.2022
Shri Ramesh Kumar Soni Independent Director 01.11.2021
Shri Vinay Ranjan Part time Director, (D(P) CIL 05.08.2021
Shri Rajendra Singh GM(F)/CFO 01.01.2022-23.08.2022
Shri Amresh Pradhan Company Secretary 31.08.2022
Shri Ravi Prakash Company Secretary 13.07.2017-31.08.2022

Shri Manoj Kumar Chairman-Cum-Managing Director 01.01.2021
Director (Finance) -Add.Charge 07.01.2022
Dr. Sanjay Kumar Director (Personnel) 23.07.2015
Shri Jai Prakash Dwivedi Director (Technical) 04.02.2022
Shri Anil Kumar Singh Director (Technical) 14.05.2022
Shri Rameher Company Secretary 07.10.2021 - 06.10.2022
Shri M. K. Baluka CFO 09.03.2022

ENDED 31-03-2023 (Contd..)

Smt. Ritu Varshney Company Secretary 07.10.2022
Shri Bhabani Prasad Pati Government Nominee Directors 17.03.2020 - 22.02.2023
Shri Sudarshan Bhagat Government Nominee Directors 22.02.2023
Shri Vinay Ranjan Government Nominee Directors 05.08.2021 - 27.01.2023
Shri Mukesh Choudhary Government Nominee Directors 27.01.2023
Dr. Darshana C Deshmukh Independent Director 25.07.2019 - 24.07.2022
Shri Bhag Chand Agarwal Independent Director 01.11.2021
Shri Kantilal Chaturbhai Patel Independent Director 01.11.2021
Shri Balram Nandwani Independent Director 01.11.2021
Shri Binod Bihari Dash Independent Director 01.11.2021

Shri Bhola Singh Chairman-cum Managing Director 01.01.2022
Director (Technical/P&P) (Addl. Charge) 01.10.2022 - 27.12.2022
Director (Finance) (Addl. Charge) 01.06.2022 - 27.09.2022
Shri S.N.Tiwary Official Part Time Director 23.12.2019 to 30.04.2022
Shri V K Tiwari Official Part Time Director 03.01.2022- 22.02.2023
Shri Marapalli Venkateshwarlu Official Part Time Director 22.02.2023
Shri Vinay Ranjan Official Part Time Director 12.05.2022
Shri Trikam Bijal Chhanga Independent Director 01.11.2021- 13.11.2022
Smt Subeena Bansal Independent Director 01.11.2021
Shri Sanjeev Jha Independent Director 01.11.2021 - 09.02.2023
Dr. Anindya Sinha Director (T/O) 30.04.2020
Director (Personnel) (Addl. Charge) 01.06.2022 - 21.09.2022
Shri R.N. Dubey Director (Finance) & C F O 01.06.2020 to 31.05.2022
Director (Personnel) (Addl. Charge) 01.08.2021 to 31.05.2022
Shri Rajneesh Narain GM (Finance) & CFO 27.09.2022
Shri S. S. Sinha Director (Technical/ P&P) 01.08.2020 - 30.09.2022
Shri Manish Kumar Director (Personnel) 21.09.2022
Shri Jitendra Mallik Director (Technical/ P&P) 27.12.2022
Shri Dipen Mehra GM (Finance) & CFO 27.07.2022 - 28.10.2022
Shri Sushanta Kumar Panda Company Secretary 04.07.2022
Shri Harsh Chauhan Company Secretary 28.01.2019 to 04.07.2022

Dr. P. S. Mishra Chairman-Cum-Managing Director 28.01.2022
Director (Finance) (Addl. Charge) 01.04.2022 - 11.08.2022
Director (Personnel) (Addl. Charge) 01.10.2022-12.01.2023
Shri M.K.Prasad Director (Technical) Operations 01.11.2020 - 30.09.2022
Director (Personnel) (Addl. Charge) 01.11.2022- 30.09.2022
Shri S. K. Pal Director (Technical) /Operations 01.10.2022
Director (Technical) /P& P 15.12.2020 - 09.12.2022
Shri G. Srinivasan Director (Finance) 12.08.2022
CFO 27.09.2022
Shri S.N. Kapri Director (Technical) /P& P 09.12.2022
Shri Debasis Acharyya Director (Personnel) 12.01.2023
002-115 116-332 333-513

ENDED 31-03-2023 (Contd..)

Shri Bhabhani Prasad Pati Government Nominee Director 22.02.2023
Ms. Vismita Tej Government Nominee Director 30.12.2020 - 21.02.2023
Dr. B. Veera Reddy Government Nominee Director 24.02.2022
Shri S.K.Deshpande Independent Director 25.07.2019 - 24.07.2022
CS (Dr.) Shyam Agarwal Independent Director 01.11.2021
Adv, Gajanan Devrao Ashole Independent Director 01.03.2023
Shri Tankadhar Tripathy Independent Director 01.11.2021
Shri Ajay Kumar Pandey CFO 02.05.2022 - 26.09.2022
Shri Swapnil Sudhanshu Company Secretary 01.12.2022
Shri. S.M. Yunus Company Secretary 17.08.2010 - 30.11.2022

Shri O. P. Singh Chairman-cum-Managing Director 01.01.2022
Director (Technical-operation) 01.09.2016 - 22.08.2022
Shri K. R. Vasudevan Director (Finance) 04.02.2018 - 31.07.2022
Shri A. K. Behura Director (Finance) 01.08.2022
Shri Jugal Borah Director (Technical-P&P) 19.04.2022
Shri S. K. Pal Director (Technical-P&P) 01.12.2021-19.04.2022
Shri K.Rao Director (Personnel) 18.12.2019
Shri S K Behera Company Secretary 15.11.2021-25.04.2022
Shri Soubhagya Parida Company Secretary 25.04.2022
Shri Vinay Ranjan Part-Time Official Director 12.05.2022 - 09.07.2022
Shri S. N. Tiwary Part-Time Official Director 23.12.2019-12.05.2022
Shri Nagaraju Maddirala Part-Time Official Director 17.03.2020
Shri S.Mohan Independent Director 10.07.2019 - 23.08.2022
Shri Debasish Nanda Part-Time Official Director 23.08.2022
Shri Sanjeev Kumar Kassi Part-Time Official Director 22.02.2023
Shri Mukesh Kumar Choudhary Part-Time Official Director 27.01.2023
Dr. Asha Lakda Independent Director 01.11.2021
CMPDIL

Shri Manoj Kumar Chairman Cum Managing Director (Addl. Charge) 04.10.2021
Dr. B Veera Reddy Part-Time Official Director 24.02.2022
Shri R N Jha Director Technical 30.01.2019
Shri Ajay Kumar Director Technical 26.10.2022
Shri Satendra Kumar Gomasta Director Technical 25.02.2020 - 09.07.2022
Shri Krishna Chandra Pandey Independent Director 10.07.2019 - 09.07.2022
Smt.Alka Panda Independent Director 10.07.2019 - 09.07.2022
Shri Mukesh Choudhary Government Nominee Director 26.05.2020 - 07.12.2022
Shri Shankar Nagachari Director Technical 02.09.2022
Shri Pramod Singh Chauhan Independent Director 16.10.2019 - 15.10.2022
Shri P. K. Prasad Chief Financial Officer 01.04.2021
Shri Abhishek Mundhra Company Secretary 18.02.2016

ENDED 31-03-2023 (Contd..)
V) Remuneration of Key Managerial Personnel
(H in crore)
Sl.
Payment to CMD, Whole Time Directors and Company Secretary 31-03-2023 31-03-2022
No.
i) Short Term Employee Benefits 27.53 31.71
ii) Post-Employment Benefits 11.40 6.26
iii) Other Long-term Benefits - -
iv) Termination Benefits - -
v) Share Based Payment - -
TOTAL 38.93 37.97
Note:
(i) Besides above, whole time Directors have been allowed to use of cars for private journey upto a ceiling of 1000 KMs
on payment of H2000 per month as per service conditions.
VI) Payment to Independent Directors

(H in crore)
Sl.
Payment to Independent Directors 31-03-2023 31-03-2022
No.
i) Sitting Fees 1.45 1.19
VII) Balances Outstanding with Key Managerial Personnel

(H in crore)
Sl.
Particulars 31-03-2023 31-03-2022
No.
i) Amount Payable 0.02 0.44
ii) Amount Receivable - -
VIII) No Trade or other receivables are due from directors or other officers of the company either severally or jointly with any other
person. Nor any trade or other receivable are due from firms or private companies respectively in which any director is a
partner, a director or member. Further there is no loans to related parties (Directors, Key Managerial Persons and others).
3 Miscellaneous Informations
i. Figures for previous year have been regrouped wherever necessary, in order to make them comparable.
ii. Note – 1 and 2 represents Corporate information and Significant Accounting Policies respectively, Note 3 to 23 form part of
the Balance Sheet as at 31-03-2023 and 24 to 37 form part of Statement of Profit & Loss for the year ended on that date.
Note – 38 represents Additional Notes to the Financial Statements.
iii. The Consolidated Financial Statement, have been approved by the Board of Directors of the company in their meeting
dated 07th May, 2023 for issue to the shareholders for their adoption.
iv. There is no system to ascertain and provide comprehensive list of transaction with struck off companies. However, based
on the infomration to the extent available with the Group, there were no transactios with the companies struck off under
section 248 of the Companies Act, 2013.
4 Principles of Consolidation and Financial Reporting of Interest in Jointly Controlled Entities and Subsidiaries
i) The financial statements of the subsidiaries used in the consolidation are drawn up to the same reporting date as that of the
Parent Company, i.e. for the year ended 31.03.2023
ii) a) The consolidated financial statements relate to Coal India Limited, its wholly owned subsidiary companies, namely,
Eastern Coalfields Limited (ECL), Bharat Coking Coal Limited (BCCL), Central Coalfields Limited (CCL), Northern
Coalfields Limited (NCL), Western Coalfields Limited (WCL), South Eastern Coalfields Limited (SECL), Mahanadi
002-115 116-332 333-513

ENDED 31-03-2023 (Contd..)
Coalfields Limited (MCL), Central Mine Planning & Design Institute Limited (CMPDIL), Coal India Africana Limitada
(Overseas Subsidiary), ; joint venture companies, namely, CIL- NTPC Urja Private Limited, International Coal Ventures
Private Ltd. (ICVL), Hindustan Urvarak and Rasayan Limited (HURL), Talcher Fertilizers Limited (TFL) and Coal Lignite
Urja Vikas Private Limited (CLUVPL).
b) The consolidated financial statements includes also the two wholly owned subsidiaries viz. CIL Solar PV Limited for
manufacturing of solar value chain (Ingot-wafer-Cell Module) and CIL Navikarniya Urja Limited for renewable energy
which were incorporated on 16th April, 2021 .
c) The financial figures of eight subsidiaries have been considered from the audited financial statements by their
independent auditors and in respect of remaining three subsidiaries namely CIL Solar PV Limited, CIL Navikarnia Urja
Vikas Private Limited and Coal India Africana Limitada, being unaudited, management certified figures have been
considered for consolidation purpose.
iii) CIL NTPC Urja Private Ltd., a 50:50 joint venture company was formed on 27th April, 2010 between CIL & NTPC. The
authorised share capital of the company is H 10 crore and issued, subscribed and paid-up share capital is H 0.15 crore. CIL
has invested H0.075 crore upto the year ended 31.03.2023. The management signed financial statement as approved by the
Board of Direcotrs of the said company for the year ended 31.03.2023 have been considered in consolidation using Equity
Method.
iv) A joint venture company named Talcher Fertilizers Limited (formerly known as Rashtriya Coal Gas Fertilizers Limited)
was incorporated on 13th November, 2015 under the Companies Act, 2013 by virtue of a joint venture agreement dated
27th October, 2015 among Coal India Limited (CIL), Rashtriya Chemicals and Fertilizers Limited, GAIL (India) Limited and
Fertilizer Corporation of India Limited. The joint venture company has authorised share capital of H4200 crore and issued
capital of H2416.45 crore out of which Coal India Ltd. owns 805480826 shares worth H805.48 crore face value of equity
shares as on 31.03.2023. The management certified financial statement as approved by the Board of Directors of the said
joint venture company for the year ended 31.03.2023 have been considered in consolidation using Equity Method.
v) CIL had entered into a Memorandum of Understanding (vide approval from its Board in 237th meeting held on 24th
November, 2007) regarding formation of Special Purpose Vehicle (SPV) through joint venture involving CIL/SAIL/RINL/
NTPC & NMDC for acquisition of coking coal properties abroad. The formation of the SPV had been approved by the
Cabinet, Govt. of India, vide its approval dated 8th November, 2007. The aforesaid SPV viz. International Coal Ventures
Private Ltd. has been formed by incorporation under erstwhile Companies Act, 1956 on 20th May, 2009 with an authorised
capital of H1.00 crore and paid up capital of H0.70 crore. As on 31.03.2022, the authorised Capital and paid up Capital stood
at H3500 crore and H1460.29 crore respectively. Out of above paid up capital, Coal India Ltd. owns 0.19% share i.e. worth
H2.8 crore face value of equity shares. The audited financial statement of the joint venture company for the year ended
31.03.2022 have been considered in consolidation using Equity Method.
vi) A joint venture agreement between Coal India Limited (CIL) and NTPC Limited for revival of Sindri& Gorakhpur Fertilizer
units of FCIL was executed on 16th May, 2016. Accordingly, a joint venture company named Hindustan Urvarak and
Rasayan Limited (HURL) was incorporated on 15th June, 2016 under the Companies Act, 2013.Thereafter, a Supplemental
Agreement was executed dated 31st October, 2016 among Coal India Limited (CIL), NTPC Limited, Indian Oil Corporation
Limited (IOCL), Fertilizer Corporation of India Limited (FCIL) and Hindustan Fertilizer Corporation Limited (HFCL) for revival
of Sindri& Gorakhpur Fertilizer units of FCIL and Barauni unit of HFCL through HURL. The joint venture company has
authorised share capital of H8000 crore divide into 800 crore equity shares of H10 each. It is agreed in line with cabinet
approval dated 13.07.2016 that FCIL and HFCL shall together hold 10.99% equity shareholding in the company at the time
of commencement of commercial production of the Project and the other three parties i.e. CIL, NTPC and IOCL shall have
equal equity shareholding after providing shares to FCIL and HFCL together.
The joint venture company has issued and paid up share capital of H6887.89 crore out of which Coal India Ltd. owns
2295955000 shares worth H2295.96 crore face value of equity shares as on 31.03.2023. The management signed financial
statement as approved by the Board of Directors of the joint venture company for the year ended 31.03.2023 have been
considered in consolidation using Equity Method.

ENDED 31-03-2023 (Contd..)
vii) Coal Lignite Urja Vikas Private Limited (CLUVPL) is a joint venture company between Coal India Limited (50%) and NLC
India Limited (50%) incorporated on 10th November, 2020 under a joint venture agreement dated 08th October, 2020 with
NLCIL as joint venture partner. The authorised share capital of the company is H 0.10 crore and issued, subscribed and
paid-up share capital is H 0.02 crore. Presently Coal India Limited has invested H 0.01 crore (i.e. 50%) in the joint venture
company. The management certified financial statement as approved by the Board of Directors of the said company for the
year 31.03.2023 have been considered in consolidation using Equity method.
viii) Joint Operations:
CIL and ONGC have entered into agreement for CBM development and operation in Jharia and Raniganj North CBM
Blocks as joint operation as per GoI CBM policy under the aegis of Directorate General of Hydrocarbons (DGH).
1. The Development Plan of Jharia CBM Block (Stage-I) is already approved by CIL as well as ONGC, however acceptable start
date of Development Phase is subject to clarification from DGH. As on 31.03.2023 Participating Interest (PI) of CIL is 26%.
2. The CBM development and operation project in Raniganj North CBM Block is under consideration of CIL and ONGC
management .
3. Management certified provisional billing statement of CBM Jharia Block has been considered for FY 2022-23.
ix) The financial statements of Mahanadi Coalfields Ltd. (MCL) have been consolidated with its four subsidiary
companies given as under:
On incorporation of subsidiaries on the basis of joint venture agreement as per directives from the Ministry of Coal, MCL
has deposited money / transferred debits for capital and other expenditure.
The position of subsidiaries as at 31.03.2023 is as under:-
Non-Controlling Interest
Date of Stake in Subsidiary (%)
Name of Subsidiary Address (J in crore)
Incorporation
31-03-2023 31-03-2022 31-03-2023 31-03-2022
1) MNH Shakti Ltd. Ananda Vihar, Burla, 16.07.2008 70.00% 70.00% 12.67 12.62
Sambalpur
2) MJSJ Coal Ltd. House No. 42,1st 13.08.2008 60.00% 60.00% 30.34 30.06
Floor, Anand Nagar,
Hakim Para, Angul
3) Mahanadi Basin Plot No. G-3, 02.12.2011 100.00% 100.00% 0.00 0.00
Power Ltd. Mancheswar Railway
Colony, Bhubaneswar
4) Mahanadi Coal MDF Room, Corporate 31.08.2015 71.11% 71.11% 25.61 25.74
Railway Ltd. Office, MCL HQ,
JagritiVihar, Burla,
Sambalpur
The audited financial statements of the above subsidiary companies upto the year ended 31.03.2023 have been considered
in consolidation.
x) The financial statements of South Eastern Coalfields Ltd. (SECL) have been consolidated with its two
subsidiary companies given as under:
On incorporation of subsidiaries, in terms of Memorandum of Understanding (MOU) signed on 03.11.2012 between South
Eastern Coalfields Limited (SECL), IRCON International Limited (IRCON) and the Government of Chhattisgarh (GoCG) for
establishment of two Railway Corridors viz., East Corridor and East West Corridor, 2 (two) Subsidiary Companies of SECL
have been incorporated under the erstwhile Companies Act, 1956 viz., M/s Chhattisgarh East Railway Limited (CERL)
and M/s Chhattisgarh East-West Railway Limited (CEWRL) has deposited money/transferred debits for capital and other
expenditure.
002-115 116-332 333-513

ENDED 31-03-2023 (Contd..)
The position of subsidiaries as at 31.03.2023 are as under:-
Incorporation
31-03-2023 31-03-2022 31-03-2023 31-03-2022
1) M/s Chhattisgarh MahadeoGhat Road, 12.03.2013 63.97% 64.71% 265.71 299.19
East Railway RaipuraChowk,
Limited Raipur-492013
2) M/s Chhattisgarh MahadeoGhat Road, 25.03.2013 66.18% 65.12% 243.48 206.73
East-West Railway RaipuraChowk,
Limited Raipur-492013
Total 509.19 505.92
The audited financial statements of the above subsidiary companies upto the year ended 31.03.2023 have been considered
in consolidation.
xi) The financial statements of Central Coalfields Ltd. (CCL) have been consolidated with its one subsidiary
company as under:
Incorporation
31-03-2023 31-03-2022 31-03-2023 31-03-2022
1) M/s Jharkhand Darbhanga House, 31.08.2015 64.00% 73.67% 192.87 99.45
Central Railway Ranchi
Limited
The audited financial statements of the above subsidiary company upto the year ended 31.03.2023 have been considered
in consolidation.
xii) Investment in Overseas Subsidiary
Coal India Ltd., formed a 100% owned subsidiary in Republic of Mozambique, named “Coal India Africana Limitada”
(CIAL). The initial paid up capital on such formation (known as “Quota Capital”) was H 0.53 crore. The management signed
financial statements 31.03.2023 of CIAL has been prepared in accordance with General Accounting Plan for small entities
in Mozambique (PGC-PE) have been considered for consolidation. Adjustment for difference with Indian GAAP, if any, being
insignificant has not been considered.
xiii) Significant Accounting Policies and Notes to these Consolidated Financial Statements are intended to serve as a means
of informative disclosure and a guide for better understanding the consolidated position of the group. Recognizing this
purpose, the Group has disclosed only such Policies and Notes from individual financial statements, which fairly present
the needed disclosure.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 484
NOTE – 38: ADDITIONAL NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31-03-2023 (Contd..)
xiv) Additional information relating to Subsidiaries/ Joint Ventures (As per schedule III of Companies Act, 2013) as at 31.03.2023
Net Assets, i.e., Total

Share in Other Share in Total
Assets minus Total Share in Profit or Loss
Comprehensive Income Comprehensive Income
Liabilities
As % of
Coal India Limited
Name of the entity As % of

As % of Consolidated As % of
Amount Consolidated Amount Amount Amount
Consolidated Other Consolidated
(J in crore) Profit or (J in crore) (J in crore) (J in crore)
Net Assets Comprehensive Income
Loss
Income
Coal India Limited 3.73 2,165.16 1.91 536.60 (47.40) (125.42) 1.45 411.18
Subsidiaries
Indian
Eastern Coalfields Limited 4.38 2,543.87 2.19 616.42 42.99 113.74 2.57 730.16
Bharat Coking Coal Limited 6.52 3,784.13 2.29 645.01 (50.89) (134.65) 1.80 510.36
Central Coalfields Limited 18.13 10,517.02 9.80 2,755.14 67.12 177.59 10.33 2,932.73
Northern Coalfields Limited 19.26 11,176.47 24.80 6,973.99 (3.56) (9.41) 24.53 6,964.58
Western Coalfields Limited 3.60 2,090.93 1.66 466.46 44.84 118.65 2.06 585.11
South Eastern Coalfields Limited 12.75 7,398.81 8.61 2,420.24 22.40 59.28 8.73 2,479.52
Mahanadi Coalfields Limited 22.92 13,298.99 47.87 13,462.98 17.11 45.26 47.58 13,508.24
Central Mine Planning & Design Institute Limited 2.13 1,237.78 1.05 296.66 7.34 19.42 1.11 316.08
CIL Solar PV Limited - 0.05 - - - - - -
CIL Navikaraniya Urja Limited - 0.05 - - - - - -
Foreign
Coal India Africana Limitada, Mozambique (0.09) (53.69) - (0.17) 0.05 0.14 - (0.03)
Non Controlling Interest in all Subsidiaries 1.33 770.68 (0.14) (40.25) - - (0.14) (40.25)
Total (A) 94.68 54,930.25 100.03 28,133.08 100.00 264.60 100.03 28,397.68
Joint Ventures (Investment as per the Equity Method)
Indian
International Coal Ventures Private Ltd. 0.01 7.75 - - - - - -
CIL NTPC Urja Private Ltd. - 0.08 - 0.06 - - - 0.06
Talcher Fertilizers Ltd. 1.39 809.30 0.04 11.21 - - 0.04 11.21
Hindustan Urvarak and Rasayan Limited 3.91 2,266.86 (0.07) (20.35) - - (0.07) (20.35)
Coal Lignite Urja Vikas Private Limited - 1.33 - 0.94 - - - 0.94
Total (B) 5.32 3,085.32 (0.03) (8.14) - - (0.03) (8.14)
Total (A+B) 100.00 58,015.57 100.00 28,124.94 100.00 264.60 100.00 28,389.54
002-115 116-332 333-513

ENDED 31-03-2023 (Contd..)
5 Fair Value Measurement
(a) Financial Instruments by Category

H in crore
31.03.2023 31.03.2022
Amortised Amortised
FVTPL FVTPL
cost cost
Financial Assets
Investments* :
Secured Bonds 0.00 649.95
Co-Operative Shares 0.08 0.08
Mutual Fund/ICD 4,054.01 5,843.68
Loans 393.00 355.79
Deposits & receivable 19,017.25 17,119.70
Trade receivables** 13,060.48 11,367.68
Cash & cash equivalents 5,665.38 7,063.48
Other Bank Balances 34,256.47 22,901.75
Borrowings & Lease Liabilities 4,331.42 3,513.64
Trade payables 8,549.18 8,603.53
Security Deposit and Earnest money 5,436.03 4,905.38
Other Liabilities 10,586.73 9,003.53
* Investment in Equity Shares in Joint Ventures are measured using Equity method which stands at H 3085.32 crore as on 31.03.2023 (P.Y. H 2426.89
crore ) and are not considered above.
** Allowance for Coal Quality Variance deducted from Trade Receivable.
(b) Fair value hierarchy
Table below shows judgements and estimates made in determining the fair values of the financial instruments that are (a)
recognised and measured at fair value and (b) measured at amortised cost and for which fair values are disclosed in the
financial statements. To provide an indication about the reliability of the inputs used in determining fair value, the group has
classified its financial instruments into the three levels prescribed under the accounting standard.
H in crore
31.03.2023 31.03.2022
Financial assets and liabilities measured at fair value
Financial Assets at FVTPL
Investments :
Mutual Fund/ICD 4054.01 5843.68
H in crore
Financial assets and liabilities measured at amortised 31.03.2023 31.03.2022
cost for which fair values are disclosed Level 1 Level 3 Level 1 Level 3
Financial Assets
Investments :
Secured Bonds 0.00 649.95
Co-Operative Share 0.08 0.08
Loans 393.00 355.79
Deposits & receivable 19,017.25 17,119.70
Trade receivables 13,060.48 11,367.68
Cash & cash equivalents 5,665.38 7,063.48
Other Bank Balances 34,256.47 22,901.75
Borrowings 4,331.42 3,513.64
Trade payables 8,549.18 8,603.53
Security Deposit and Earnest money 5,436.03 4,905.38
Other Liabilities 10,586.73 9,003.53

ENDED 31-03-2023 (Contd..)
A brief of each level is given below:
Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes Mutual fund which is
valued using closing Net Asset Value (NAV) as at the reporting date.
Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation
techniques which maximize the use of observable market data and rely as little as possible on entity-specific estimates. If
all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.
Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level
3. This is the case for investments , security deposits and other liabilities included in level 3.
(c) Valuation technique used in determining fair value
Valuation techniques used to value financial instruments include the use of quoted market prices (NAV) of instruments in
respect of investment in Mutual Funds.
(d) Fair value measurements using significant unobservable inputs
At present there are no fair value measurements using significant unobservable inputs.
(e) Fair values of financial assets and liabilities measured at amortised cost
The carrying amounts of trade receivables, short term deposits, cash and cash equivalents, trade payables are considered
to be the same as their fair values, due to their short-term nature.
The Group considers that the Security Deposits does not include a significant financing component. Security deposits
coincide with the company’s performance and the contract requires amounts to be retained for reasons other than the provision of
finance. The withholding of a specified percentage of each milestone payment is intended to protect the interest of the group, from
the contractor failing to adequately complete its obligations under the contract. Accordingly, transaction cost of Security deposit is
considered as fair value at initial recognition and subsequently measured at amortised cost.
Significant estimates: The fair value of financial instruments that are not traded in an active market is determined using
valuation techniques. The Group uses its judgment to select a method and makes suitable assumptions at the end of each reporting
period.
6 Financial Risk Management
Financial risk management objectives and policies
The Group’s principal financial liabilities comprise trade and other payables. The main purpose of these financial liabilities is
to finance the Group’s operations and to provide guarantees to support its operations. The Group’s principal financial assets
include loans, trade and other receivables, and cash and cash equivalents that is derived directly from its operations.
The Group is exposed to market risk, credit risk and liquidity risk. The Group’s senior management oversees the management
of these risks. The Group’s senior management is supported by a risk committee that advises, inter alia, on financial risks and
the appropriate financial risk governance framework for the Group. The risk committee provides assurance to the Board of
Directors that the Group’s financial risk activities are governed by appropriate policies and procedures and that financial risks
are identified, measured and managed in accordance with the Group’s policies and risk objectives. The Board of Directors
reviews and agrees policies for managing each of these risks, which are summarised below.
002-115 116-332 333-513

ENDED 31-03-2023 (Contd..)
This note explains the sources of risk which the entity is exposed to and how the entity manages the risk and the impact
of hedge accounting in the financial statements.
Risk Exposure arising from Measurement Management

Credit Risk Cash and Cash equivalents, trade Ageing analysis/ Department of public enterprises
receivables financial asset measured Credit rating (DPE guidelines), diversification of
at amortised cost bank deposits credit limits and other
securities
Liquidity Risk Borrowings and other liabilities Periodic cash flows Availability of committed credit lines
and borrowing facilities
Market Risk-foreign Future commercial transactions, Cash flow forecast Regular watch and review by senior
exchange recognised financial assets and sensitivity analysis management and audit committee.
liabilities not denominated in INR
Market Risk-interest rate Cash and Cash equivalents, Bank Cash flow forecast Department of public enterprises
deposits and mutual funds sensitivity analysis (DPE guidelines), Regular watch and
review by senior management and
audit committee.
The Group risk management is carried out by the board of directors as per DPE guidelines issued by Government of India. The
board provides written principles for overall risk management as well as policies covering investment of excess liquidity.
Credit risk management:
Receivables arise mainly out of sale of Coal. Sale of Coal is broadly categorized as sale through fuel supply agreements (FSAs)
and e-auction.
Macro - economic information (such as regulatory changes) is incorporated as part of the fuel supply agreements (FSAs) and
e-auction terms.
Fuel Supply Agreements (FSAs)
As contemplated in and in accordance with the terms of the New Coal Distribution Policy (NCDP), the group enters into
legally enforceable FSAs with customers or with State Nominated Agencies that in turn enters into appropriate distribution
arrangements with end customers. FSAs can be broadly categorized into:
• FSAs with customers in the power utilities sector, including State power utilities, private power utilities (“PPUs”) and
independent power producers (“IPPs”);
• FSAs with customers in non-power industries (including captive power plants (“CPPs”); and
• FSAs with State Nominated Agencies.
E-Auction Scheme
The E-Auction scheme of coal has been introduced to provide access to coal for customers who were not able to source their coal
requirement through the available institutional mechanisms under the NCDP for various reasons, for example, due to a less than full
allocation of their normative requirement under NCDP, seasonality of their coal requirement and limited requirement of coal that does
not warrant a long-term linkage. The quantity of coal to be offered under E-Auction is reviewed from time to time by the Ministry of Coal.
Credit risk arises when a counterparty defaults on contractual obligations resulting in financial loss to the group.
Provision for expected credit loss: The Group provides for expected credit risk loss for doubtful/ credit impaired assets, by
lifetime expected credit losses (Simplified approach). Refer Note - 13, Trade Receivables
Significant estimates and judgments for Impairment of financial assets
The impairment provisions for financial assets disclosed above are based on assumptions about risk of default and expected
loss rates. The Group uses judgment in making these assumptions and selecting the inputs to the impairment calculation, based
on the Group’s past history, existing market conditions as well as forward looking estimates at the end of each reporting year.

ENDED 31-03-2023 (Contd..)
Liquidity Risk
Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of funding
through an adequate amount of committed credit facilities to meet obligations when due. Due to the dynamic nature of the
underlying businesses, Group treasury maintains flexibility in funding by maintaining availability under committed credit lines.
Management monitors forecasts of the group's liquidity position (comprising the undrawn borrowing facilities) and cash and cash
equivalents on the basis of expected cash flows. This is generally carried out at local level in accordance with practice and limits
set by the group. The bank borrowings of Coal India Ltd. has been secured by creating charge against stock of coal , stores and
spare parts and book debts of CIL and its Subsidiary Companies within consortium of banks. The total working capital credit limit
available to CIL is H430.00 crore, of which fund based limit is H140.00 crore and non-fund based limit is H290.00 crore. Further,
H5190.00 crore(H5000.00 crore) was set up as non-fund based limit outside consortium in order to facilitate import of HEMM. Coal
India Limited is contingently liable to the extent such facility is actually utilised by the Subsidiary Companies.
CIL has been sanctioned a term loan of H 364.30 crore from HDFC bank Limited secured by creating exclusive charge on plant
and equipment and movable assets of the 100 MW Solar Project of the Company in Gujarat.
Market risk
a) Foreign currency risk
Foreign currency risk arises from future commercial transactions and recognised assets or liabilities denominated in a
currency that is not the Group’s functional currency(INR).The Company is exposed to foreign exchange risk arising from
foreign currency transactions. Foreign exchange risk in respect of foreign operation is considered to be insignificant. The
Group also imports and risk is managed by regular follow up. Group has a policy which is implemented when foreign
currency risk becomes significant.
b) Cash flow and fair value interest rate risk
The Group’s main interest rate risk arises from bank deposits with change in interest rate exposes the Group to cash flow
interest rate risk. Group policy is to maintain most of its deposits at fixed rate.
Group manages the risk using guidelines from Department of public enterprises (DPE), diversification of bank deposits
credit limits and other securities.
Capital management
The Group being a government entity manages its capital as per the guidelines of Department of investment and public asset
management under ministry of finance.
Capital Structure of the Group is as follows:

(H in crore)
31.03.2023 31.03.2022
Equity Share capital 6162.73 6162.73
Long term debt 4106.25 3301.78
7 Employee Benefits: Recognition and Measurement (Ind AS-19)
Defined Benefit Plans :
a) Gratuity
The Company provides for gratuity, a post-employment defined benefit plan ("the Gratuity Scheme") covering the eligible
employees. The Gratuity Scheme is funded through trust maintained with Life Insurance Corporation of India, wherein
employer contribution is 2.01% of basic salary and dearness allowances. Gratuity payment is made as per policy of the
comapny subject to maximum of H 0.20 crore at the time of separation from the company considering the provisions of
the Payment of Gratuity Act 1972 as amended. The liability or asset recognised in the balance sheet in respect of the
002-115 116-332 333-513

ENDED 31-03-2023 (Contd..)
Gratuity Scheme is the present value of the defined benefit obligation at the end of the reporting year less the fair value of
plan assets. The defined benefit obligation is calculated at each reporting date by actuaries using the projected unit credit
method. Re-measurement gains and losses arising from experience adjustments and changes in actuarial assumptions are
recognised in the year in which they occur, directly in other comprehensive income (OCI).
b) Post-Retirement Medical Benefit – Executive (CPRMSE)
Company has post-retirement medical benefit scheme known as Contributory Post Retirement Medicare Scheme for
Executive of CIL and its Subsidiaries (CPRMSE), to provide Medicare to the executives and their spouses in Company
hospital/empanelled hospitals or outpatient/Domiciliary only in India subject to ceiling limit, on account of retirement on
attaining the age of superannuation or are separated by the Company on medical ground or retirement under Voluntary
Retirement Scheme under common coal cadre or Voluntary Retirement Scheme formulated and made applicable from time
to time. Membership is not extended to the executives who resigns from the services of the CIL and its subsidiaries. The
maximum amount reimbursable during the entire life for the retired executives and spouse taken together jointly or severally
is H 25 lakhs except for specified diseases with no upper limit. The Scheme is funded through trust for group, maintained
with Life Insurance Corporation of India . The liability for the scheme is recognised based on actuarial valuation done at
each reporting date.
c) Post-Retirement Medical Benefit – Non Executive (CPRMS -NE)
As a part of social security scheme under wage agreement, Company is providing Contributory Post-Retirement Medicare
Scheme for non-executives (CPRMSE-NE) to provide medical care to the non-executives and their spouses and Divyang
Child(ren) in Company hospital/empanelled hospitals or outpatient/Domiciliary only in India subject to ceiling limit, on
account of retirement on attaining the age of superannuation or are separated by the Company on medical ground or
retirement under Voluntary Retirement Scheme formulated and made applicable from time to time or resigns from the
company at the age of 57 Years or above or on death to the spouse and Divyang Child(ren). The maximum amount
reimbursable during the entire life for the retired non-executives, spouse and Divyang Child(ren) taken together jointly
or severally is H 8 lakhs except for specified diseases with no upper limit. The Scheme is funded through trust for group,
maintained with Life Insurance Corporation of India . The liability for the scheme is recognised based on actuarial valuation
done at each reporting date.
Defined Contribution Plans
a) Provident Fund and Pension
Company pays fixed contribution towards Provident Fund and Pension Fund at pre-determined rates based on a
fixed percentage of the eligible employee's salary i.e. 12% and 7% of Basic salary and Dearness Allowance towards
Provident Fund and Pension Fund respectively. These funds are governed by a separate statutory body under the
control of Ministry of Coal, Government of India, named Coal Mines Provident Fund Organisation (CMPFO).The
contribution towards the fund for the period is recognized in the Statement of Profit & Loss.
b) CIL Executive Defined Contribution Pension Scheme (NPS)
The company provides a post-employment contributory pension scheme to the executives of the Company known as
“CIL Executive Defined Contribution Pension Scheme -2007” (NPS). The Scheme is funded through trust for group,
maintained with Life Insurance Corporation of India. The obligation of the Company is to contribute to the trust to the
extent of amount not exceeding 30% of basic pay and dearness allowance less employer’s contribution towards provident
fund, gratuity, post-retirement medical benefits -Executive i.e. CPRMSE or any other retirement benefits. The current
employer contribution of 6.99% of basic and Dearness Allowance is being charged to statement of profit and loss.
Other Long Term Employee Benefits
a) Leave encashment
The company provides benefit of total Earned Leave (EL) of 30 days and Half Paid Leave (HPL) of 20 days to the
executives of the company, accrued and credited proportionately on half yearly basis on the first day of January and
July of every year. During the service, 75% EL credited balance is one time encashable in each calendar year subject

ENDED 31-03-2023 (Contd..)
to ceiling of maximum 60 days EL encashment. Accumulated HPL is not permitted for encashment during the period
of service. On superannuation, EL and HPL together is considered for encashment subject to the overall limit of 300
days without commutation of HPL. In case of non-executives, Leave encashment is governed by the National Coal
Wage Agreement (NCWA) and at present the workmen are entitled to get encashment of earned leave at the rate of 15
days per year and on discontinuation of service due to death, retirement, superannuation and VRS, the balance leave
or 150 days whichever is less, is allowed for encashment. Therefore, the liabilities for earned leave are expected to
be settled during the service as well as after the retirement of employee. They are therefore measured as the present
value of expected future payments to be made in respect of services provided by employees up to the end of the
reporting period using the projected unit credit method. The benefits are discounted using the market yields at the end
of the reporting period that have terms approximating to the terms of the related obligation. The scheme is funded by
qualifying insurance policies from Life Insurance Corporation of India. The liability under the scheme is borne by the
Company as per actuarial valuation at each reporting date.
b) Life Cover Scheme (LCS)
As a part of the social security scheme, the Group has a Life Cover Scheme known as “Life Cover Scheme of Coal
India Limited” (LCS) which covers all the executive and non-executive cadre employees. In case of death in service, an
amount of H 1,25,000 is paid to the nominees under the scheme w.e.f 01.10.2017. The expected cost of the benefits is
recognized when an event occurs that causes the benefit payable under the scheme.
c) Settlement Allowances
As a part of wage agreement, a lump sum amount of H 12000/- is paid to all the non-executive cadre employees
governed under NCWA on their superannuation on or after 31.10.2010 as settling-in allowance. The liability under the
scheme is borne by the Company as per actuarial valuation at each reporting date.
d) Group Personal Accident Insurance (GPAIS)
Company has taken group insurance scheme from United India Insurance Company Limited to cover the executives of
the company against personal accident known as “Coal India Executives Group Personal Accident Insurance Scheme”
(GPAIS). GPAIS covers all types of accident on 24 hour basis worldwide. Premium for the scheme is borne by the
Company.
e) Leave Travel Concession (LTC)
As a part of wage agreement, Non-executive employees are entitled to travel assistance for visiting their home town
and for “Bharat Bhraman” once in a block of 4 years. A lump sum amount of H 8000/- and H 12000/- is paid for visiting
Home town and “Bharat Bhraman”, respectively. The liability for the scheme is recognised based on actuarial valuation
at each reporting date.
f) Compensation to Dependent on Mine Accident Benefits
As a part of social security scheme under wage agreement, the company provide the benefits admissible under The
Employee’s Compensation Act, 1923. An amount of H 15 lakhs is paid to the next of kin of an employee in case of a fatal
mine accident w.e.f 07.11.2019. The expected cost of the benefits is recognised when an event occurs that causes the
benefit payable under the scheme.
Funding status of defined benefit plans and other long term employee benefits plans are as under:
(i) Funded
o Gratuity
o Leave Encashment
o Post-Retirement Medical Benefit – Executive (CPRMSE)
o Post-Retirement Medical Benefit – Non Executive (CPRMS -NE)

002-115 116-332 333-513

ENDED 31-03-2023 (Contd..)

(ii) Unfunded
o Life Cover Scheme
o Settlement Allowance
o Group Personal Accident Insurance
o Leave Travel Concession
o Compensation to dependent on Mine Accident Benefits
Acturial Provisions J 29789.47 crore as on 31-03-2023 based on valuation made by the Actuary, details of which
are mentioned below:
(H in crore)
Opening Incremental Opening Closing
Incremental
Actuarial Liability Actuarial Actuarial
Liability
Particulars Liability during the Liability Liability
during the
as on previous as on as on
year
01.04.2021 year 01.04.2022 31-03-2023
Gratuity 21,191.64 (590.06) 20,601.58 (1,032.73) 19,568.85
Leave 4,491.75 (87.76) 4,403.99 811.05 5,215.04
Settlement Allowance 193.72 (8.71) 185.01 (15.19) 169.82
Leave Travel Concession 270.53 (36.92) 233.61 (0.48) 233.13
Post Retired Medical Benefits 2,621.96 1,903.32 4,525.28 77.35 4,602.63
Total 28,769.60 1,179.87 29,949.47 (160.00) 29,789.47

ACTUARIAL VALUATION OF GRATUITY BENEFIT AS AT 31-03-2023 CERTIFICATES AS PER IND AS 19
Disclosure of Defined Benefit Cost For the Year Ended 31-03-2023

A Profit & Loss (P&L)
Ended 31-03-2023 Ended 31-03-2022
5 Service cost 495.82 963.59
8 Cost recognised in P&L 677.52 1,214.19

Ended 31-03-2023 Ended 31-03-2022
3 Actuarial (gain)/loss arising during period (223.49) (47.36)
4 Return on plan assets (greater)/less than discount rate (133.75) (62.75)

Ended 31-03-2023 Ended 31-03-2022
1 Service cost 495.82 963.59
4 Immediate recognition of (gains)/losses – other long term employee benefit plans - -
5 Defined Benefit Cost 320.28 1,104.08

D Assumptions
Ended 31-03-2023 Ended 31-03-2022
6.25% 6.25%
Age Rates Age Rates

20 0.000888 45 0.002874
25 0.000984 50 0.004946
30 0.001056 55 0.007888
35 0.001282 60 0.011534
40 0.001803 65 0.017009
002-115 116-332 333-513

A Development of Net Balance Sheet Position 31-03-2023 31-03-2022

1 Defined benefit obligation (DBO) (19,568.85) (20,601.58)
2 Fair value of plan assets (FVA) 17,517.04 16,988.96
3 Funded status [surplus/(deficit)] (2,051.81) (3,612.62)
5 Net defined benefit asset/ (liability) (2,051.81) (3,612.62)
B Reconciliation of Net Balance Sheet Position 31-03-2023 31-03-2022

1 Net defined benefit asset/ (liability) at end of prior period (3,612.62) (4,808.25)
2 Service cost (495.82) (963.59)
4 Amount recognised in OCI 357.24 110.11
5 Employer contributions 1,881.09 1,967.30
6 Benefit paid directly by the Company - 332.41
8 Divestitures - -
10 Net defined benefit asset/ (liability) at end of current period (2,051.81) (3,612.62)

Ended 31-03-2023 Ended 31-03-2022
1 DBO at end of prior period 20,601.58 21,191.64
3 Interest cost on the DBO 1,311.93 1,353.67
11 Benefits paid directly by the Company - (332.41)
12 Benefits paid from plan assets (2,616.99) (2,527.55)
13 DBO at end of current period 19,568.85 20,601.58

Ended 31-03-2023 Ended 31-03-2022
1 Fair value of assets at end of prior period 16,988.96 16,383.39
3 Interest income on plan assets 1,130.23 1,103.07
6 Benefits paid (2,616.99) (2,527.55)
7 Fair Value of assets at the end of current period 17,517.04 16,988.96


1 March 31, 2024 2,218.02
2 March 31, 2025 2,298.53
3 March 31, 2026 2,252.85
4 March 31, 2027 2,224.94
5 March 31, 2028 2,240.10
6 March 31, 2029 to March 31, 2033 9,420.36
7 Beyond 10 years 15,022.65
D Accrued Benefit Obligation at 31-03-2023 15,730.79
E Plan Asset Information as at 31-03-2023 Percentage

Property 0%
Other 0%
Total 100%

1 Current Liability 2,141.24
2 Non Current Liability 17,427.61
3 Liability as at 31-03-2023 19,568.85
DBO on base assumptions as at 31 March 2022 19,568.85
A Discount Rate
Discount Rate as at 31-03-2023 7.30%

Salary Escalation Rate as at 31-03-2023 Executives: 9%;
Non Executives:
6.25%
2 Effect on DBO due to 0.5% decrease in Salary Escalation 235.12
002-115 116-332 333-513


Ended 31-03-2023 Ended 31-03-2022
5 Service cost 954.32 675.34
7 Immediate recognition of (gains)/losses – other long term employee benefit 406.92 (161.68)
8 Cost recognised in P&L 1,420.88 623.51

B Defined Benefit Cost
Ended 31-03-2023 Ended 31-03-2022
1 Service cost 954.32 675.34
3 Actuarial (gains)/ losses recognized in OCI - -
4 Immediate recognition of (gains)/losses – other long term employee benefit plans 406.92 (161.68)
5 Defined Benefit Cost 1,420.88 623.51

C Assumptions
Ended 31-03-2023 Ended 31-03-2022
6.25% 6.25%
Age Rates Age Rates

20 0.000888 45 0.002874
25 0.000984 50 0.004946
30 0.001056 55 0.007888
35 0.001282 60 0.011534
40 0.001803 65 0.017009



2 Service cost (954.32) (675.34)
4 Actuarial (losses)/gains (406.92) 161.68
8 Divestitures - -

Ended 31-03-2023 Ended 31-03-2022

Ended 31-03-2023 Ended 31-03-2022
1 Fair value of assets at end of prior period 3,020.78 2,044.23
6 Benefits paid (855.64) (544.57)

1 March 31, 2024 469.95
2 March 31, 2025 525.67
3 March 31, 2026 518.99
4 March 31, 2027 514.13
5 March 31, 2028 525.87
6 March 31, 2029 to March 31, 2033 2,280.46
B Expected employer contributions for the period ending 31 March 2024 1,004.43
D Accrued Benefit Obligation at 31-03-2023 3,231.89
002-115 116-332 333-513

E Plan Asset Information as at 31-03-2023 Percentage

Property 0%
Other 0%
Total 100%

2 Non Current Liability 4,761.36
3 Liability as at 31-03-2023 5,215.04
A Discount Rate

Salary Escalation Rate as at 31-03-2023 Executives: 9%;
Non Executives:
6.25%

AS PER IND AS 19

Ended 31-03-2023 Ended 31-03-2022
5 Service cost 108.48 1652.09
8 Cost recognised in P&L 251.87 1814.41

AS PER IND AS 19

Ended 31-03-2023 Ended 31-03-2022
3 Actuarial (gain)/loss arising during period (19.04) 148.40
4 Return on plan assets (greater)/less than discount rate 22.87 (128.57)
5 Actuarial (gains)/ losses recognized in OCI 3.83 19.83

Ended 31-03-2023 Ended 31-03-2022
1 Service cost 108.48 1,652.09
3 Actuarial (gains)/ losses recognized in OCI 3.83 19.83
4 Immediate recognition of (gains)/losses – other long term employee benefit plans - -
5 Defined Benefit Cost 255.70 1,834.24
D Assumptions For the Year Ended 31-03-2023 For the Year Ended 31-03-2022
2 Medical Inflation rate 0.00% 0.00%
Mortality Rate - Inservice Indian Assured Lives Mortality Indian Assured Lives Mortality
4 Mortality Rate - Post retirement Indian Individual Annuitant’s Indian Individual Annuitant’s
Mortality Table (2012-15) Mortality Table (2012-15)
Average Medical Cost (INR) Executive Employees:Domiciliary Executive Employees:Domiciliary
Benefit - H 36,000 p.a. Benefit - H 36,000 p.a.
Hospitalisation Benefit - H 35,000 Hospitalisation Benefit - H 35,000
p.a. p.a.
Non Executive Non Executive
Employees: Domiciliary Employees: Domiciliary
Benefit+Hospitalisation Benefit Benefit+Hospitalisation Benefit
combined - H 18,000 p.a. combined - H 18,000 p.a.
5 Spouse Age Difference Spouse is 5 years younger than Spouse is 5 years younger than
Member Member
Specimen Mortality Rates: Indian Assured Lives Mortality (2006-08) Ultimate table
Age Rates Age Rates

20 0.000888 45 0.002874
25 0.000984 50 0.004946
30 0.001056 55 0.007888
35 0.001282 60 0.011534
40 0.001803 65 0.017009
002-115 116-332 333-513

Specimen Mortality Rates: Indian Individual Annuitant’s Mortality Table (2012-15)
Age Rates
60 0.006349
65 0.01007
70 0.016393
75 0.027379
80 0.04673


2 Service cost (108.48) (1,652.09)
4 Amount recognised in OCI (3.83) (19.83)
5 Employer contributions 670.84 1,115.76
8 Divestitures - -

Ended 31-03-2023 Ended 31-03-2022
6 Past service cost - plan amendments - 1,550.52
9 Actuarial (gain)/loss - demographic assumptions - 212.20

Ended 31-03-2023 Ended 31-03-2022
1 Fair value of assets at end of prior period 2,081.12 818.47
4 Employer contributions 670.84 1,115.76
5 Return on plan assets greater/(lesser) than discount rate (22.87) 128.57
6 Benefits paid (309.30) (73.45)

1 March 31, 2024 231.09
2 March 31, 2025 257.38
3 March 31, 2026 283.16
4 March 31, 2027 304.99
5 March 31, 2028 326.15
6 March 31, 2029 to March 31, 2033 1,863.19
B Weighted average duration of defined benefit obligation 12 Years
C Accrued Benefit Obligation at 31-03-2023 4,602.63
A Discount Rate
8 Other Information
a) Provisions and allowances
The position and movement of various provisions as per Ind AS-37 except those relating to employee benefits which are valued
actuarially, for the year ended 31.03.2023 are given below:
(H in crore)
Opening Addition Write back/ Opening Addition Write back/ Closing
Balance during Adjustment/ Balance during Adj./Paid Balance
Particulars
as on the Paid during as on 01- the during the as on 31-
01.04.2021 period the period 04-2022 period period 03-2023
Note 3:- Property, Plant and
Equipments :
Impairment of Assets : 205.79 57.82 - 263.61 90.30 - 353.91
Note 4:- Capital Work in Progress :
Against CWIP : 54.52 86.07 - 140.59 25.22 - 165.81
Note 5:- Exploration And
Evaluation Assets :
Provision and Impairment : 9.29 18.52 - 27.81 1.55 - 29.36
Note 8:- Loans :
Other Loans - Non current 1.95 - 0.01 1.94 0.21 - 2.15
002-115 116-332 333-513

(H in crore)
Opening Addition Write back/ Opening Addition Write back/ Closing
Balance during Adjustment/ Balance during Adj./Paid Balance
Particulars
as on the Paid during as on 01- the during the as on 31-
01.04.2021 period the period 04-2022 period period 03-2023
Note 9:- Other Financial Assets:
Non Current
Security Deposits 22.20 0.08 - 22.28 - 0.23 22.05
Other Deposits and Receivables 7.17 - 4.72 2.45 1.31 - 3.76
Current
Other Deposits and Receivables 72.61 3.11 - 75.72 - 22.56 53.16
Note 10:- Other Non-Current
Assets :
Capital Advances 10.32 1.11 - 11.43 - 2.67 8.76
Other Deposits and Receivables 2.33 4.81 - 7.14 - 1.57 5.57
Note 11:- Other Current Assets:
Advance payment of statutory dues 0.89 - - 0.89 - 0.89 -
Other Advances and Deposits 34.22 2.11 - 36.33 19.06 - 55.39
Note 13:-Trade Receivables :
Provision for bad & doubtful debts : 2,542.73 - 118.20 2,424.53 297.60 - 2,722.13
Note 21 :- Non-Current
Employee Benefits
Gratuity 3,073.31 - 697.07 2,376.24 - 1,319.19 1,057.05
Leave Encashment 2,058.69 - 970.41 1,088.28 337.37 - 1,425.65
Post Retirement Medical Benefits 2,218.05 63.61 - 2,281.66 - 500.91 1,780.75
Other Employee Benefits 552.74 - 260.53 292.21 12.05 - 304.26
Other Provisions
Site Restoration/Mine Closure 6,731.50 507.21 - 7,238.71 545.51 - 7,784.22
Stripping Activity Adjustment 48,906.04 3,760.85 - 52,666.89 3,809.12 - 56,476.01
Others 0.26 - 0.25 0.01 - - 0.01
Current
Employee Benefits
Gratuity (net of fund) 1,883.90 - 487.94 1,395.96 - 333.91 1,062.05
Leave Encashment (net of fund) 389.48 - 85.71 303.77 98.29 - 402.06
Post Retirement Medical Benefits 220.41 - 48.75 171.66 37.83 - 209.49
(net of fund)
Ex- Gratia 1,714.80 94.88 - 1,809.68 - 84.86 1,724.82
Performance Related Pay 1,027.07 407.20 - 1,434.27 529.03 - 1,963.30
Other Employee Benefits 245.15 845.71 - 1,090.86 8,268.67 - 9,359.53
Other Provisions
Others 41.47 - 23.28 18.19 223.94 - 242.13
b) Components of deferred tax assets and (liabilities)

(H in crore)
Recognised
Recognised/
in other
Balance as on (reversed) in Balance as on
Particulars comprehensive
01.04.2022 profit and loss 31.03.2023
income during
during the year
the year
Deferred Tax Assets:
Provision for Doubtful Advances, Claims and 1,043.93 107.95 935.98
Debts
Employee Benefits 2,169.55 (838.35) 3,007.90
Others 1,678.55 386.63 1,291.92
TOTAL OF (A) 4,892.03 (343.77) - 5,235.80

(H in crore)
Recognised
Recognised/
in other
Balance as on (reversed) in Balance as on
Particulars comprehensive
01.04.2022 profit and loss 31.03.2023
income during
during the year
the year
Deferred Tax Liability:
Related to Property, Plant and Equipment and 1,392.88 620.62 2,013.50
Intangible assets
Others 235.30 104.14 339.44
TOTAL OF (B) 1,628.18 724.76 - 2,352.94
Net Deferred Tax Asset/ (Deferred Tax Liability) 3,263.85 380.99 - 2,882.86
(C=A-B)
D. Remeasurement of Defined benefit Plan 63.22 105.13 5.37 (36.54)
DTL(+)/DTA(-)
Net Deferred Tax Asset (E=C+D) 3,327.07 486.12 5.37 2,846.32
Disclosed as:
(H in crore)
Balance as on Balance as on
Particulars
01.04.2022 31.03.2023
Deferred Tax Assets 4128.42 4177.00
Deferred Tax Liability 801.35 1330.68
3327.07 2846.32
c) Segment Reporting
The Group is primarily engaged in a single segment business of production and sale of Coal.
d) Earnings per share

Particulars
No. Ended 31-03-2023 Ended 31-03-2022
i) Net profit after tax attributable to Equity Share Holders 28,165.19 17,358.10
ii) Weighted Average no. of Equity Shares Outstanding 6162728327 6162728327
iii) Basic and Diluted Earnings per Share in Rupees (Face value H10/- per share) H 45.70 H 28.17
e) Leases
i) South Eastern Coalfields Limited in terms of License Agreement dated 19th day of March 2001 executed with M/s Apollo
Hospital Enterprises Ltd., Chennai has granted the latter a right to occupy and use the fully constructed main hospital
building measuring 2,97,099.74 Sq. Ft. (27611.50 Sqm) and the residential quarters measuring 55,333 Sq. Ft. (5142.47
Sqm) together with superstructures on the land such as substation building, sewerage treatment plant and pump house.
The license agreement provides for a lease year of 30 years from the effective date of the commencement of the lease i.e.
November 2001.
The lease rental payable by the Apollo Hospital is accounted for as per the agreement. As per the agreement, the lease
rental receivable from Apollo Hospital on the Balance Sheet date, for main hospital building is H4/- per Sq. Ft. per month
(H4/- per Sq. Ft. per month) H1.43 crore per annum or 1/3rd of net profit arrived from the operation of this division of the
hospital of the licensee, whichever is more and for residential quarters the rate is H2/- per Sq. Ft. per month (H2/- per Sq. Ft.
per month) H0.13 crore per annum. The lease rental by Apollo Hospital for the year ended on Balance Sheet date accounted
for is H1.56crore (H1.56 crore) towards minimum rental.
The cost of the gross assets leased to Apollo Hospital Enterprises Ltd. furnished under the schedule of Fixed Assets
is H31.32 crore (H31.32 crore) accumulated depreciation as on Balance Sheet date is H12.90 crore (H12.34 crore), the
depreciation recognized in the Statement of Profit & Loss for the period ended is H0.56 crore (H0.56 crore).
002-115 116-332 333-513

The future minimum lease receivable in the aggregate as on 31.03.2023 is H12.45 crore (H14.01 crore) for each of the
following years is as under
Particulars 31.03.2023 31.03.2022

(I) Not later than one year 1.56 1.56
(II) Later than one year and not later than five years 6.23 6.23
(III) Later than five years and till the year of lease 4.66 6.22
No Contingent rents are recognized as income in Profit and Loss Account.
ii) a) SECL in terms of License Agreements dated 03.01.2007 and 16.05.2008 executed with M/s Aryan Coal Beneficiations
Private Ltd., New Delhi has granted the later a right to use the fully constructed Railway Siding Junadih No.3 at Gevra
Area on lease for a year of 20 years with effect from 23.05.2006. Lease Rent H2.41 crore (H1.99 crore) received /
receivable for the current period/ year.
b) SECL in terms of License Agreements dated 03.01.2007 and 16.05.2008 executed with M/s Aryan Coal Beneficiations
Private Ltd., New Delhi has granted the later a right to use the fully constructed Railway Siding Junadih No.4 at Gevra
Area for a lease year of 20 years w.e.f.23.08.1999. Lease Rent H2.44 crore (H2.02 crore) received / receivable for the
current period/year. Renewal of Lease Agreement is under process.
c) SECL in terms of Lease Agreements dated 15.10.2007 executed with M/s Spectrum Coal and Power Limited (Formerly
known as STCLI Coal Washery Limited) has granted the later a right to use the fully constructed Railway Siding line no.
2 Dipka Area for an applied lease year of 30 years w.e.f Oct 2007 vide letter no. 13-14/81 dated 18.07.14. Lease Rent
H2.78 crore (H2.53 crore) received/ receivable for the current period/year.
d) Leased out Assets (Line No-2) to M/s Spectrum Coal and Power Limited (Formerly known as STCLI Coal Washery Limited)
H19.66 crore (H19.23 crore) and accumulated depreciation as on Balance Sheet date is H15.32 crore (H14.84 crore).
The future minimum lease rental receivable in the aggregate at the end of the year is H107.66 crore (H112.17 crore) for
each of the following periods is as under:
(H in crore)
31.03.2023
Particulars Junadih Sdg Junadih Sdg 31.03.2022
Line No. 2(d) Total
- 3(a) -4*(b)
Not later than one year 5.07 5.14 3.06 13.27 12.06
Later than one year and not later than 6.63 0.00 15.61 22.24 23.48
five year
Later than five years and till the period 0.00 0.00 72.15 72.15 76.63
of lease
Total 11.70 5.14 90.82 107.66 112.17
No contingent rents are recognized as income in the Profit and Loss Account.
iii) SECL in terms of License agreement with M/s Gujarat State Electricity Board, Vadodara, Gujarat dated 17.10.2005 has
granted the later a right to use land for construction & operation of Railway siding Junadih line no 5 at Gevra area for a year
of 20 years with effect from 17.10.2005. Lease Rent H1.48 crore (H1.34 crore) has been received for the current period/year.
The Company in terms of Lease Agreements executed with M/s Spectrum Coal and Power Limited (Formerly known as
STCLI Coal Washery Limited) has granted the later a right to use the land for construction of washery and siding facilities
at Dipka Project on lease for a year of 30 years with effect from 01.11.1996. Lease Rent H4.28 crore (H3.89 crore) received/
receivable during the current period/year.
Leased out Assets to M/s Spectrum Coal and Power Limited (Formerly known as STCLI Coal Washery Limited) valued H
1.27 crore (H0.98 crore) for Land and accumulated depreciation as on Balance Sheet date is H0.68 crore (H0.59 crore).

The future minimum lease rental receivable in the aggregate at the end of the year is H24.41 crore (H30.03 crore) for each of
the following periods is as under:
(H in crore)
31.03.2023
Land for Land for
Year 31.03.2022
Junadih Sdg Washery & Total (a+b)
-5 (a) Siding (b)
Not later than one year 3.12 7.82 7.82 7.11
Later than one year and not later than five year 2.87 16.59 16.59 22.92
Later than five years and till the period of lease 0 0 0 0
Total 5.99 24.41 24.41 30.03
No contingent rents are recognized as income in the Profit and Loss Account.
iv) CCL in terms of lease agreement with Punjab State Electricity Board, has granted a right to use 15.50 acres of land of the
company. The cost of gross carrying amount of the asset is H 7.90 crore (PY H 7.90 crore) and progressive depreciation there
on is H 7.90 crore (PY H 7.90 crore) and WDV is Nil (PY Nil). The future minimum lease payment receivable in aggregate for
balance period of lease is H 2.58 crore. The details of future lease payments receivable are as under: -
(H in crore)
Particulars 31.03.2023 31.03.2022
(I) Not later than one year 0.21 0.19
(II) Later than one year and not later than five years 0.86 0.77
(III) Later than five years and till the year of lease 1.51 1.83
Total 2.58 2.79
v) EIPL, in terms of lease agreement, has been granted a right to occupy and use the Land of the company. The cost of gross
carrying amount of the asset is H 4968 (PY H 4968 ) and progressive depreciation there on is H 4968 (PY H 4968 ) and WDV
is Nil (PY H Nil). The future minimum lease payment receivable in aggregate for balance period of lease is 0.90 Lakhs. The
matter is pending before the Ld. Arbitrator.
vi) The Company (Washery Construction Division) had taken railway land measuring about 10.647 acre vide lease agreement
dated 12.06.2020 for construction and operation of private siding at 5MTPA PEH under Dhanbad Division for 35 years from
01.04.2017 to 31.03.2053 for H23.24 crore paid upfront on 07.08.2019.
vii) BCCL (Sijua Area) had taken railway land measuring about 9.55 acre vide lease agreement dated 22.03.2022 for opencast
project to control coal fire at Loyabad station under Adra Division for 35 years from 22.03.2022 for H 25.09 crore paid upfront
on 22.03.2022
viii) The company has entered into Lease agreement for Hiring of Vehicles/Telecommunications. The lease agreement will be for
a period ranging from 3 to 5 years.
The disclosure requirements as per Ind AS are as follow:-

(H in crore)
Sl Progressive Written Lease
Particulars Gross Block Finance Cost
No Amortisation Down Value Liability
1 Vehicles 52.72 11.74 40.98 212.64 15.81
2 Telecommunications 181.42 60.47 120.95
002-115 116-332 333-513

The future minimum lease amount payable in aggregate during the period of lease is H212.64 crore. The details of future
lease payment payable are as under:-
Sl. As at As at
Particulars
No. 31.03.2023 31.03.2022
1 Not later than one year 58.85 43.93
2 Later than one year and not later than three years 115.93 97.64
3 Later than three years and till the year of lease 37.86 58.71
Total 212.64 200.28
ix) Captive Power Plant of WJ Area: In BCCL, as per lease agreement dated 18th march 2010 lease rent @ H6.60 crore per
annum (inclusive of Taxes) was receivable from the lessee M/s OSD Coke (Consortium) Private Ltd. towards lease of
Captive power plant of Western Jharia area. The lease was valid for 20 years. But the lessee has filed a writ petition in the
Jharkhand high Court on disputes over tariff valuation etc. and has stopped operating the power plant as well as payment
of lease rent. The Plant has been handed over to BCCL from 16th Dec’2015 as per decision of Arbitrator appointed by
Jharkhand High Court. In view of the above, the outstanding lease rent amounting to H6.60 crore for the year 2014-15 and
H4.67 crore for the year 2015-16 (upto 15th Dec’2015) has not been accounted for.
f) Insurance and escalation claims
Insurance and escalation claims are accounted for on the basis of admission/final settlement.
g) Provisions made in the Accounts
Provisions made in the accounts against slow moving/non-moving/obsolete stores, claims receivable, advances, doubtful debts
etc. are considered adequate to cover possible losses.
h) Current Assets, Loans and Advances etc.
sheet.
i) Current Liabilities
Estimated liability has been provided where actual liability could not be measured.
j) Balance Confirmations
sheet. The debit/credit balances of parties are subject to confirmation and realisation thereof.
k) Other Matters reported in the financial statements of subsidiary companies
i) Fund under Master Plan: Eastern Coalfields Limited (ECL) receives fund under Master Plan for dealing with rehabilitation of
persons dwelling in coal bearing / fire affected leasehold area of the Company . Asansol Durgapur Development Authority
(ADDA) is the implementing agency for rehabilitation of persons dwelling in non-ECL houses, for which the Company acts
as a nodal agency. Fund received as nodal agency is advanced to ADDA and such Advance (shown under Other Advance
in Note-11) as well as the relevant Fund, are adjusted on the basis of utilization statement submitted by ADDA. There is an
unutilised fund of H 311.44 crore as on 31st March, 2023 (as on 31st March,2022 H11.44 crore) awaiting utilization certificate
from ADDA for their adjustment.

[H in crore]
Particulars 31.03.2023 31.03.2022
Opening balance of unutilized fund under Master Plan at the beginning of 11.44 11.44
the period / year
Fund Received during the period / year 300.00 0.00
Utilization /adjustment during the period / year 0.00 0.00
Closing balance of unutilized fund 311.44 11.44
ii) An amount of H 8.00 crore was paid as advance for restoration of power supply to Dissergarh Power Supply Corporation
Limited (presently India Power Corporation Limited) as per the direction of Hon’ble High Court, Calcutta in A.S.T. No.- 617
of 2011, dated 26.08.2011. (Refer-note-11)
iii) An adhoc advance amount of H 3.96 crore was paid to IPCL in view of disconnection notice served by them which is
pending in appeal proceedings before the Hon’ble Ombudsman, WBERC. The said amount has been shown under Note-
11 (Other Current Asset).
iv) An amount of H 39.19 crore has been paid as security deposit for Power Bill to IPCL as per the direction of Hon’ble High
Court, Calcutta in A.S.T. no. 1904/2011, dated: 21.12.2011. The said amount has been shown under Note-10 (Other Non-
Current Asset). The above matters was put up before Arbitrator appointed by Hon’ble Supreme Court for resolution of
dispute. Arbitrator vide its order dated 15th February 2021 has given the decision that as the issue raised is subject matter
of a Writ Petition pending in Calcutta High Court, the same cannot be decided in present Arbitration.
Appeal has been filed under Section 34 of the Arbitration and Conciliation Act, 1996 before Hon'ble High Court, Delhi, (The
Appellate Jurisdiction) in respect of the above matter. The said appeal was dismissed by Hon'ble High Court, Delhi vide
order dated 29th October 2021.
v) The Ministry of Coal , Government of India had alloted coal blocks namely Amarkonda, Murgadangal, Brahmini and Chichoro
Patsimal to the Company. Due to strong resistance by the villagers/loacal residence exploration work could not be carried
out. An application was filled by ECL for surrendering the Coal Blocks to the Ministry of Coal on 12th July, 2022. However
CIL Board in its 448th meeting held on 04.01.2023 decided to retain the blocks. ECL has withdrwan the application.
vi) A dispute between ECL and Bihar State Power Company Limited has been referred to AMRCD regarding compensation
claim for short lifting of Coal pertaining to 2016-17 to 2020-21. Based on the AMRCD decision the amount can be quantified.
Bharat Coaking Coal Limited
i) Possession of Parbatpur (Central) Coal Mine: Allocation of Parbatpur (Central) Coal Mine (Bokaro) in 2006 by Government of
India (GOI) to Electro steel Casting Limited stood de-allocated w.e.f. 31.03.2015 and thereafter Govt. of India (GOI) assigned
the said mine to the designated Custodian i.e. ‘Chairman, CIL’ in terms of the provisions of the Coal Mines (Special Provisions)
Second Ordinance, 2014 (DO No. 13016/36/2015-CA-III dated 31.03.2015 issued by the Joint Secretary MOC). Chairman CIL,
in turn, authorized ‘CMD, BCCL’ to act on its behalf (CIL/CH/CUSTODIAN/27/1608 dated 31.03.2015). Accordingly, Parbatpur
(Central) Coal Mine was placed under the administrative control of Eastern Jharia Area (Dhanbad) of the Company (Office
Order No. the Company: CS: F17 (A):138 dated 03/04/2015 issued by Company Secretary the Company).
Vide Office Memorandum No.13016/77/2015-CA-III dated 06.10.2015 of GOI, MOC, Parbatpur (Central) Coal Mine has been
allotted to M/s SAIL and the Designated Custodian i.e. Chairman, CIL had been advised to hand over possession of the mine
to SAIL. Accordingly, it was handed over to SAIL as confirmed by GM, Eastern Jharia Area vide his Letter No. BCCL/GM/
EJA/2016/1429 dated 28.07.2016. Further, the Company has spent H5.08 crore up to 28.07.2016 (Power bill H4.04 crore, Repair
& Maintenance and others H1.04 crore) on maintaining the possession of the mine as custodian which has been booked as
‘Receivable’ in the Financial Statement. The amount is adjustable from the sale proceeds from the coal stock lying at that time.
It is updated that as against BCCL's, claim of H 5.08 crore, SAIL has also claimed H 17.00 crore towards de-watering of mine
etc. which was not accepted by BCCL.
Again GOI appointed Chairman, CIL to manage and operate the said mines vide notification in the Gazette of India F. No.
CBA2-13016/1/2018-CBA2 dated 13th Feb, 2020. Chairman CIL, in turn, authorized ‘CMD, BCCL’ to act on his behalf to
manage and operate the said mines as per relevant provisions of Coal Mines (Special Provision) Act, 2015 as amended by
Mineral Laws (Amendment) Ordinance 2020 and the rules made thereunder to manage and operate the said mine.
002-115 116-332 333-513

Accordingly the mine was placed under the administrative control of GM, Eastern Jharia Area (Dhanbad) is take over the
possession of the Parbatpur- Central Coal mine of the Company vide Letter no. BCCL/D(T)/P&P/F-83(B)/2020/45 dated
03/03/2020 to manage and operate with immediate effect.
Since the date from second time taking of possession of the mine as custodian till 31st March, 2023 the company has spent
H 30.26 crore on maintaining the mine which has been accounted for 'Receivable' in the Financial Statements.
ii) In the past, the BCCL was not paying the Excise Duty on Royalty & SED but on the advice of CIL, the Company released
the payment of H 73.99 crore towards this for the period from 01.03.2011 to 28.02.2013. In consideration of the above,
supplementary bills were raised on consumers amounting to H 78.10 crore for the earlier period besides regular billing of
Excise Duty on Royalty & SED. The Company has so far (upto 31.03.2022) realized H 73.15 crore and the balance amount
not yet realized is H 4.95 crore. The unrealized amount belongs mostly to e-auction consumers, out of which 17 consumers
have opposed the demand by the Company amounting to H0.28 crore in the court of law. Against the amount of H 4.95 crore,
provision to the tune of H 4.95 crore stands as on 30.09.2022
iii) The Company ( BCCL, Kolkata Office) has filed a civil suit in the High Court at Kolkata (G.A. No.2797 of 2013/ C.S. No. 11
of 2013) against M/s Turner Morrison Limited, Kolkata for (i) a declaration that the Company is the lawful owner of the its
present office premises at 6, Lyons Range, Kolkata-700001, (ii) a declaration that there was no relationship as the landlord
and the tenant between them and (iii) a decree of H187.74 crore with interest against the Rent etc. already paid by the
Company to M/s Turner Morrison Limited, Kolkata. Besides this there are some more claims of the Company in the court of
law amounting to H0.04crore.
iv) Fund under Master Plan: Bharat Coking Coal Limited (BCCL) receives fund from Coal India Limited against Master Plan
for dealing with fire and rehabilitation of persons dwelling in coal bearing / fire affected area of the Company leasehold.
The Company is the implementing agency for fire projects and rehabilitation of persons dwelling in the Company houses.
Jharia Rehabilitation & Development Authority (JRDA) is the implementing agency for rehabilitation of persons dwelling in
non-BCCL houses, for which the Company acts as a nodal agency. Fund received as nodal agency is advanced to JRDA
and such Advance (shown under Other Advance in Note-11) as well as the relevant Fund, both are adjusted on the basis
of utilization statement submitted by JRDA. There is an Advance of H111.21 crore as on 31st March, 2023 (as on 31st
March,2022 H428.86crore) to JRDA awaiting utilization certificate for their adjustment.
Position of Unutilized Fund under Master Plan as on 31st March, 2022 is shown hereunder:
[H in crore]
As at As at
Particulars
31.03.2023 31.03.2022
Opening balance of unutilized fund under Master Plan at the beginning of 471.56 287.28
the period / year
Fund Received during the period / year 1.75 197.48
Utilization /adjustment during the period / year 325.75 13.20
Closing balance of unutilized fund 147.56 471.56

i) There is a long pending dispute over capitalization cost of Rajrappa and Giddi Captive Power Plant, commissioned by EIPL
on Built Own and Operate ( BOO) basis and the dispute is pending in Civil Appeal No. 7403 of 2009, filed by the Company
before the Hon’ble Supreme Court against the Order dated 31.07.2009 of the Jharkhand State Electricity Regulatory
Commission duly confirmed by the Appellate Tribunal also.
Pursuant to Interim Orders of the Hon’ble Supreme Court dated 14.09.12 and 23.11.12 passed in the said Appeal, the
Company had accounted for a liability of H 94.33 crore. in 2012-13 upto the period March, 2008. Out of which H 83.03
crore had been paid to EIPL after carrying out eligible deduction. Further, an ad-hoc payment of H 75 crore and H25 crore
had been made on 20.11.13 and 10.01.14 respectively as per directives of the Hon’ble Supreme Court. As directed by the
Hon’ble Supreme Court revised amount payable from April’08 to March’14 had been calculated based on the methodology
adopted by JSERC in determining the revised tariff up to the period March’ 08. Accordingly, an amount of H 23.25 crore had
been provided during the financial year 2013-14 in addition to H 94.33 crore, which was already provided in the Financial
Statements of 2012-13. For the financial year 2014-15, additional liability of H 3.26 crore has been provided. For the financial
year 2015-16 additional liability of H 0.26 crore has also been provided.

The details of balance receivable amount from EIPL are as under:
[H in crore]
As at
Particulars
31.03.2023
a) Differential Tariff for the period upto March’08-in respect of which liability has been provided in 94.33
the Financial Statements of 2012-13.
b) Differential Tariff for the period April’08- to March’14 in respect of which liability has been 23.25
provided in the year 2013-14.
c) Old keep back amount in respect of deemed energy charges 31.36
d) Differential tariff for the year 2014-15 3.26
e) Differential tariff for the year 2015-16 (Rajrappa Area) 0.26
152.46
Less: Ad-hoc payment( as per Order of the Hon’ble Supreme Court ) 183.03
Net Balance amount( shown in Note-9 under the head Claims & Other Receivables) 30.57
However, EIPL has submitted their demand for H 302.63 crore on 17.09.2012 including H 134.20 crore on account of interest
on delayed payment which is beyond the purview of PPA and the matter is pending before the Hon’ble Supreme Court.
As per clause 1.18.3 of the Power Purchase Agreement with M/s. EIPL, from the date of expiry of one year from
commissioning of the respective power plant, increase/decrease of fuel components of tariff due to variation in fuel cost
shall be determined. The initial price of rejects as per clause 1.14 of PPA was H 90 per tonne.
Accordingly, calculation had been made as per clause 1.18.3 of PPA and additional revenue receivable on account of
revision in price of rejects net off with additional tariff payable on account of revised tariff due to increase in fuel cost had
been considered in the Financial Statements for the year 2013-14 and supplementary bill to EIPL had also been raised.
Subsequently, during the financial year 2014-15 the price of rejects was again revised based on the recommendations of
the CCL standing committee of Sales and Marketing department and the same was communicated to Director(Operation)
of DLF Ltd. vide letter Ref. No. GM(E&M)/DLF/14/ 3530-36 dated. 17.11.2014. As per letter, G grade slake coal which was
the lowest grade under UHV system of pricing applicable prior to 01.01.2012 will be charged for the period from July,2000
to December, 2011 from EIPL. Consequent upon the issue of above letter, Sales bill and power tariff has been revised.
As on 31.03.2016, the amount receivable from EIPL on account of supply of rejects after adjusting enhanced tariff was
H 38.69 crore. Further a provision of H 1.64 crore was made in the year 2016-17 making total provision to H 40.33 crore
As per clause 2.6 of the Power Purchase Agreement dated. 8th February, 1993, in the event of any dispute arising out of
or in relation to the agreement, the same shall be referred to the sole arbitration of an arbitrator mutually acceptable to
CIL & EIPL as per provisions of Arbitration Act. The emerging situation is that as the parties to the agreement have failed
to mutually agree to the appointment of an arbitrator, the petitioner (CCL) is left with no other alternative but to move to
the Hon’ble High Court for appointment of an arbitrator in exercising powers under section 11(6) of the Arbitration and
Conciliation Act, 1996. As such, the Arbitration Application has been filed on 7th April, 2016. The Hon’ble High Court of
Jharkhand during 2017-18 has appointed Ld. Arbitrator as per Agreement to settle the dispute. Hearing is still pending
before Ld. Arbitrator.
ii) Consequent upon the agreement made with Coal India Limited and President of India for allocation of coal block Kotre
Basantpur and Panchmo Coal Blocks under Coal Mines (Special Provisions) Act, 2015, and subsequent allocation to CCL
for operation and commercial use of mines, the CCL has deposited 75% of Upfront fees amounting to H 30.97 crore and
fixed amount for H 9.91 crore and furnished Performance Bank Guarantee (Performance Security) amounting to H 286.14
crore, in designated bank account of Nominated Authority for allotment. H 40.88 crore (upfront fees H 30.97 crore and
Security deposit H 9.91 crore) is appearing under Exploration Evaluation Assets in Note-5. As the conditions of prescribed
guidelines for making payment of 3rd instalment is not yet fulfilled, the balance amount of H 10.33 crore is shown under
Capital Commitment.
iii) Against the demand of Income Tax Department regarding TCS from Road Sales Customers under section 206 C of the Income
Tax Act, 1961, amounting to H 106.56 crore, the department has collected H 71.79 crore by attaching the bank account of the
company and the balance amount of H 34.77 crore has been deposited by the company. The company in turn has recovered
002-115 116-332 333-513

H 77.53 crore from the customers as on balance sheet date and the balance H 27.99 crore is under process of recovery.
Subsequently, the case was disposed by CIT (A) and against the said order CCL preferred an appeal before the ITAT since
the order issued by CIT(A) was non speaking in nature. ITAT in its order dated 23.01.2023 given vedict in favour of CCL and
allowing all grounds raised by the CCL.
iv) CCL used to supply Washed Medium Coking Coal (WMCC) to M/S SAIL & RINL at the price mutually agreed in MOU
entered between CCL & SAIL / RINL, duly signed by the representatives of CCL & SAIL/RINL with validity upto 31.03.2017.
The last such MOU executed was valid for FY 2016-17 i.e. up to 31.03.2017 and the agreed price applicable for FY
2016-17 was H 5780/- per tonne. As per CIL's direction, CCL notified the price of WMCC considering the doctrine of
Import Parity as envisaged by New Coal Distribution Policy (NCDP) of the Government. However, both SAIL and RINL had
raised their concerns in the said matter i.e. unilateral price revision as against agreed price mechanism. Thereafter, several
letters including discussions have been exchanged among these parties (CCL, SAIl and RINL), but no consensus has
been agreed in the said matter . However, a mutually agreed ad-hoc price @6500/- per tonne has been implemented w.e.f.
28/07/2018 after several round of persuasion in the said matter and further agreed to implement pricing on import parity
price mechanism on the recommendation of an independent agency. However, no concreate progress in the said matter
has been achieved in the said matter till date.
v) The Secretary to Government, Revenue, Registration and Land Reforms Department, Government of Jharkhand vide his
Letter No. 5/Sa.Bhu (CCL) Ramgarh- 303/2012-519 (5)/Ra. Dated 07/02/2020 to The Chairman, Coal India limited has
raised a demand of H26218.15 crore against 36179.30 acres of Government land under the command area of CCL. The
demand comprises of Rent, Cess and Salami as lease bandobasti of land for lease period.
Land is acquired by CCL as per notification issued by Central Government under Section 9(1) of CBA (A&D) Act, 1957 and
physical possession is taken under Section 12 of CBA (A&D) Act, 1957 which is free from all encumbrances. Accordingly,
CCL didn’t agree with the demand raised by state government. However, the company as per the provisions of Section
13(5) in The Coal Bearing Areas (Acquisition And development) Act, 1957 agrees to pay land compensation at present rural
agricultural circle rate against Govt. Land to the Govt. of Jharkhand. The tentative liability for land compensation based on
present rural agriculture rate comes to H778.62 crore for 5392.75 acres of Govt. Land which is subject to verification by
district officials and CCL released an adhoc payment of H1990.77 crore. The tentative liability of H778.62 crore has been
capitalised as Other Land under PPE.
i) Against the levy of 5% tax under “Madhya Pradesh Gramin Avsanrachana Tatha Sadak Vikas Adhiniyam, 2005” (MPGATSVA
2005), some consumers as well as WCL has moved to the Hon'ble High Court of Madhya Pradesh, Jabalpur whereby vide
interim order dated 15/02/2006 the Company is being directed not to deposit this tax to the State Government but to keep
in a fixed deposit. The matter was later decided by the Jabalpur High Court in favour of MP Government against which the
WCL has filed an SLP before the Hon'ble Supreme Court and the matter is still subjudice. The Hon'ble Supreme Court of
India vide its interim order dated 02-08-2010 directed the Company to file its returns for all the years under protest as per
MPGATSVA (2005) and also directed the assessing officer to complete the assessments of returns filed by the Company.
In compliance with the Supreme Court directions, up to 31/03/2023 the assessing officers raised total demand of H746.53
crore against the Company (H708.24 crore) which is paid in full as per the legal advice. However, the Company has preferred
Appeals against the assessment orders / demand notes with Competent Appellate Authority, Jabalpur and Bhopal.
Up to 31/03/2023, an amount of H787.81 crore (H745.29 crore) has been received from customers on account of MPGATSVA
Tax (including VAT/CST thereon up to 31st March 2016). Against this H 746.53 crore is paid under protest (includingH5.91
crore on accounts of for VAT/CST) against the demand raised by Assessing Officer up to 31/03/2023.
Out of balance amount of H41.29 crore,H34.58 crore has been kept in deposit leaving balance of H6.71 crore to be deposited.
The cumulative interest accrued on fixed deposits made on this account is added to liability.
ii) By virtue of enactment of Mineral Validation Act, 1992, the Company has raised supplementary bills on customers’ up to
4.4.1991 on a/c of Cess and Other Taxes amounting to H3.21crore (H3.21 crore). Pending outcome of Special Leave Petition
in Supreme Court, against the judgment of Ranchi Bench of Hon'ble Patna High Court in favour of the Company the same
is shown as liability for Cess on Royalty under the head Other Current Liabilities.

iii) The Rate Contracts (RC) for supply of explosives by different suppliers was expired on 28th February’2006 and pending
renewal of the same the suppliers were asked to continue the supplies at the same prevalent rates, subject to the condition
that supplies during such extended period would be governed by the rates as may be fixed in the new RC. This continued
up to 28th July, 2006.
The new RC was finalised and came into effect from 29th July, 2006 with a reduced price of the explosives and recovery
of excess amount paid was made from the suppliers against which some of the suppliers filed a Civil Suit before Hon'ble
Calcutta High Court granted a stay against recovery in December 2006. Accordingly, CIL directed WCL to refund the
amount deducted from the six suppliers.
The Hon'ble High Court of Calcutta asked these suppliers to deposit the disputed amount in question in an account with the
Joint Receiver appointed by the Hon'ble High Court. But the suppliers failed to do so and the Hon'ble Calcutta High Court
in July 2008 vacated the stay of recovery of excess payment made to such suppliers.
Hence, CIL directed WCL to restart the recovery of such amount from the running bills of the suppliers as per directives of Court.
However, pending disposal of the case since 2008-09 the recovery of H2.58 crore is kept under liability in the books of account.
iv) As per tripartite Agreement between WCL and Power Utilities companies with CSIR-CIMR, third party sampling agency,
coal sampling is carried out by CIMFR. Based on result of CIMFR duly accepted by WCL & power utilities, credit/debit note
is issued to power utilities and accounted for. Further Provision for grade slippage amounting H196.25 crore for current
period is made, based on past trend on account of quality on coal sampling done by CIMFR for which the report is yet to
be received as well report from the Referee in case of dispute.
v) Prospecting Boring and Development expenses amounting to H2.48 crore (H4.71 crore) along with provision for depreciation have
been taken out from accounts during the year after expiry of two years, following the year in which these are fully amortized.
vi) As per directives of the Government of India through Coal India Ltd, WCL has taken the custody of Gatitoria OC and
MakriMangoli OC mines w.e.f. 01.04.2015. However, the Gatitoria (East) and Gatitoria (West) is vested in favour of
Boulder Stone Mart private Limited vide order no. NA-104/4/2020-NA dtd 18/11/20221 of MOC hence, Block handed over
24/12/2021. Makri-Mangoli OC mines is vested in favour of M/S Yazdani International Private limited vide order no. NA-
104/18/2020-NA dtd 24/03/2021 of MOC is handed over as on 30.04.2022
i) Construction of MCL Institute of Natural Resources and Energy Management(MINREM): The Group is constructing an
Institute ‘MCL Institute of Natural Resources and Energy Management(MINREM), Bhubaneswar’ with an estimated total
value of H 138.83 crore through the contractor M/S. NBCC. The Construction work was stopped because Bhubaneswar
Development Authority did not consider the proposal for approval earlier. However on 02.11.2018 BDA have granted
necessary permission in favour of MCL. The MOU has been revalidated for a period of two years from 09.01.2020 & the
above work to be completed within 12 months and the revised project cost is H 155.33 crore. NBCC has not resumed the
work within 15 days as per the timeline given by Secretary, MOC on 04.08.2021. After several letters, final notice has been
served to NBCC to start work with in 15 days from the date of issue of letter i.e. on 12.10.2021, failing which MCL will have
no option left than to proceed with termination of Memorandum of Understanding.
Termination of MOU with NBCC approved by competent authority along with penal provision as per MOU has been
communicated to NBCC on 05.01.2022.
The job of PMC for balance work has been entrusted to CMPDIL, Ranchi vide letter No. MCL/Sambalpur/Civil/21-22/1641
dated 02.02.2022
The group has incurred H 121.27 crore towards construction of the institute as on 31.03.2023.
ii) Land at Baliapanda Mouza, Puri: 5 acres of land at Baliapanda Mouza, Puri amounting to H 0.94 crore (including deposit for
boundary wall) taken as lease from Puri Municipality with a lease period of 99 years w.e.f. 01.04.1996. However, Tahsildar
Puri vide his office memo no. 7206 dated 21.08.2004 addressed to the Collector Puri with a copy to MCL, Bhubaneswar
stated that the said area comes under the “Sweat water zone” and it has been declared as restricted area by the Govt. in
002-115 116-332 333-513

Housing and Urban Development Department. Though the said land comes under Sweat Water Zone, Tahsildar, Puri has
accepted ground rent along with cess till 2008-09. Further D(P), MCL vide letter no. 4707 dated 08.01.2019, requested to
Collector, Puri for early hand over of alternate land to start the stall project. Letter has been written to Collector, Puri by
DGM, MCL on 05.12.2019 for allotment of alternative patch of land. Subsequently,Dy. GM , MCL and CM (Mining) met
collector , Puri on 18.12.2020. Collector opined that the land was wrongly leased by Municipality to MCL beyond their
jurisdiction, hence Municipality cannot allot any alternative land in favour of MCL and suggested for apply of refund of
premium of land earlier deposited with Municipality ,Puri. MCL has applied for refund with Municipality, Puri and the matter
is under process.
iii) On 24th September 2014, the Hon’ble Supreme Court cancelled allocation of 204 coal blocks made during 1993-2012
citing the allocation process as arbitrary and allocations as illegal. Accordingly the Coal Block namely Utkal A (including
Gopal prasad west) and Talabira II & III (MNH Shakti Limited, subsidiary of MCL) allocated earlier in favour of the Group also
got de-allocated.
iv) As per the provisions of the Coal Mines (Special Provisions) Act 2015, the Government has allocated Talabira II & III coal
block to Neyveli Lignite Corporation Limited (one of the previous allottees) as communicated vide its letter dated 17th
February 2016. MHN Shakti Ltd., a subsidiary of MCL is entitled to get compensation from the new allottee through the
Nominated Authority, MoC towards the amount spent by it for acquisition of land, capital work in progress and intangible
assets. The compensation is being determined by the Nominated Authority under the Coal Mines (Special Provisions) Act
and will be received by the company in phased manner. The company has received H18.55 crore in FY 2016-17 towards
Geological Report and Railway Siding etc.
l) Misappropriation, Fraud, Excess payment, theft etc. cases
i) During the financial year 2013-14, a case of misappropriation of Company’s fund for personal gain came to the notice of the
management. The matter has been investigated by different agencies and appropriate action for recovery is underway. As
per the estimate of the internal audit department of Coal India Limited, the amount involved is H 1.17 crore approximately.
ii) One fraud case has been cropped up at Sohagpur Area in respect of salary/ wages billing by a clerk amounting to H0.16
crore, out of which H0.09 crore has been deposited by him. Balance amount is not recovered till date and involved person
has been terminated from the service. The case is being investigated by CBI, Jabalpur and is under trial, prosecution
evidence stage at CBI Trial Court, Jabalpur
iii) Excess payment is reported to be made to a security agency at Bishrampur Area amounting to H1.21 crore. The cases are
being dealt by CBI, Raipur and is under trial stage and at prosecution evidence stage.
iv) Excess payment is reported to be made to a security agency at Korba Area amounting to H0.32 crore. The cases is being
dealt by CBI, Raipur and is in trial and at prosecution evidence stage.
v) Excess payment is reported to be made to security agency at Jamuna Kotma Area amounting to H1.40 crore. The case is
being dealt by CBI Jabalpur and is under trial and at prosecution evidence stage
vi) Excess payment is reported to be made to a security agency at Johilla Area amounting to H1.10 crore. The case is being
dealt by CBI, Jabalpur and is under trial pre charge Stage
vii) Irregularities in deployment of OB Contractor at Amera OC of Bisrampur Area and payment involving H0.28 crore. The case
is under trial at CBI, Raipur and is under pre charge stage.
viii) Theft of goods during the period is H0.25 crore (Previous year H0.25 crore), which has been duly accounted for.
ix) During the year 1993-94 a suspected fraud case was detected at Nandgaon incline of Chandrapur Area, quantified by the
Internal Audit Department to the tune of H0.12 crore. Thereafter, an amount of H0.02 crore has been recovered from the party
and for balance figure matching provision is done in books. The same is under CBI investigation vide case no. RC1(A)/96
DTD 03.01.996, Chandrapur.
x) During the year 1995-96, a theft case at CWS Stores was suspected and police complaint was lodged. During the course
of Departmental enquiry many kardex were seized/taken out for investigation. Pending final outcome of the enquiry, the
workshop continues to maintain a provision of H0.14 crore.

m) Details of Capital Expenditure by Joint Venture Entities during the year*:
[H in crore]
International Hindustan Coal Lignite
CIL NTPC Talcher
Coal Urvarak and Urja Vikas
Name of Entity Urja Private Fertilizers
Ventures Rasayan private
Ltd. Ltd.
Private Ltd. Limited Limited
Addition in Property Plant and Equipment - - 0.18 7,633.93 -
Change in Capital Work in Progress - - 1076.48 -2912.62 -
Addition in Exploration and Evaluation - - - - -
Addition in Intangible Assets - - - 0.20 -
Change in Capital Advance - - -377.25 -30.23 -
Total Capital Expenditure - 699.41 4691.28 -
CIL Percentage holding in the entities 0.19% 50.00% 33.33% 33.33% 50.00%
Share of CIL in JV's CAPEX 0.00 - 233.14 1563.76 -
*Disclosure only for CAPEX calculation for MOU purposes. Consolidation of above Joint Ventures have been done using equity method.
n) Disaggregated revenue information:
The table below presents disaggregated revenues from contract with customers information as per requirement of Ind AS 115,
Revenue From Contract with Customer for revenue from sale of coal & others:
[H in crore]
For the year For the year
Particulars
Ended 31.03.2023 Ended 31.03.2022
Types of goods or service
- Coal 1,27,607.70 1,00,429.32
- Others 19.77 133.25
Total revenue from Sale of Coal & others 1,27,627.47 1,00,562.57
Types of customers
- Power sector 86,043.63 73,701.25
- Non-Power Sector 41,837.48 27,027.76
- Others or Services (253.64) (166.44)
Types of contract
- FSA 94,131.60 77,618.28
- E Auction 31,463.73 22,015.89
- Others 2,032.14 928.40
Timing of goods or service
- Goods transferred at a point in time 1,12,858.18 90,261.12
- Goods transferred over time 14,769.29 10,301.45
- Services transferred at a point in time - -
- Services transferred over time - -
002-115 116-332 333-513

o) CIL AND IICM
CIL has leased out the assets viz. land, building, structures, furniture and fixtures and other assets to IICM. The existing lease
agreement is valid from 01.04.2015 to 31.03.2020. Renewal of the lease is in process. The lease rent of IICM payable to CIL is
H0.01 crore per annum.
p) Suspension of mines
The functional director of Coal India Limited vide its 229th meeting dated 05th June, 2020 has ratified the decision to temporarily
suspend the mining operation at NEC (in Tikak, Tipong and Tirap Colliery) from 03rd June, 2020 till forestry and other statutory
clearances are obtained and mines are made operational.
However Mining operations have been started in Tikak Extension OCP mines from 10th February, 2022.
q) No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or
kind of funds) by the Group to or in any other person(s) or entity (ies), including foreign entities (“Intermediaries”) with the
understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on
behalf of the Group (Ultimate Beneficiaries). The Group has not received any fund from any party(s) (Funding Party) with the
understanding that the Group shall whether, directly or indirectly lend or invest in other persons or entities identified by or on
behalf of the funding party (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate
Beneficiaries.
r) Based on the infomration to the extent available with the Group, there were no transactios with the companies struck off under
section 248 of the Companies Act, 2013.
Signature to Note 1 to 38.

For Lodha & Co
Sd/- Sd/- Sd/-

DIN- 00279727 DIN- 09015566
Sd/- Sd/-
GREEN INITIATIVE APPEAL TO THE SHAREHOLDERS

The Shareholders holding shares in demat form are requested to register their e-mail id with their Depository. Shareholders holding
shares in physical form are requested to send their consent to our Registrar and Transfer Agent, M/s Alankit Assignments Limited
on the following format.
Date: _______________
M/s. Alankit Assignments Limited.
Unit: COAL INDIA
M/s. Alankit Assignment Limited
205-208 Anarkali Complex Jhandewalan Extension,
New Delhi – 110 055
Phone No: 011-4254-1234/2354-1234
Website: www.alankit.com
Toll free no-1860-121-2155
I/We______________________________________holding_______________shares of the Company in physical form intend to receive all

communications including notices, annual reports, through my/our e-mail id given hereunder:
Folio No ___________________________ E-mail id ________________________
___________________________
Signature of the first holder
515-533
Notice 515
COAL INDIA LIMITED

A Maharatna Company
Registered office-Coal Bhawan, Premises No-04 MAR, Plot No-AF-III,
Action Area-1A, New town, Rajarhat, Kolkata-700156
Tel No-033-23245555
Email-complianceofficer.cil@coalindia.in, Website: www.coalindia.in CIN: L23109WB1973GOI028844
NOTICE Dated: 18th July, 2023
Notice of Forty- Ninth Annual General Meeting of Coal India Limited
NOTICE is hereby given to the members of Coal India Limited 4. To appoint a director in place of Dr. B. Veera Reddy [DIN-
that Forty-Ninth Annual General Meeting of the Company will 08679590] who retires by rotation in terms of Section 152(6)
be held on Wednesday, 23rd August.’2023 at 11.00 A.M IST of the Companies Act, 2013 and Article 39(j) of Articles
through Video conferencing (VC)/Other Audio Visual Means of Association of the Company and being eligible, offers
(OAVM) to transact the following businesses: himself for reappointment
ORDINARY BUSINESS: Special Business:- Ordinary Resolution
1. To receive, consider and adopt: ITEM No. 5:
a. the Standalone Audited Financial Statements of the To consider and if thought fit, to pass with or without
Company for the financial year ended March 31, 2023 modification(s), the following resolution as an Ordinary
including the Audited Balance Sheet as on March 31, Resolution:
2023 and the Statement of Profit & Loss for the year
ended on that date and the Reports of the Board of “RESOLVED THAT pursuant to the provisions of Section 148(3)
Directors, Statutory Auditor and Comptroller and and other applicable provisions of the Companies Act, 2013
Auditor General of India thereon. and the Companies (Audit and Auditors) Rules, 2014 (including
any other statutory modification(s) or re-enactment thereof for
b. the Consolidated Audited Financial Statements of the the time being in force) the remuneration of H 4,40,000/-, out of
Company for the financial year ended March 31, 2023 pocket expenditures at actuals restricted to 50% of Audit fees
including the Audited Balance Sheet as on March and applicable taxes as set out in the explanatory statement to
31, 2023 and the Statement of Profit & Loss for the this Resolution and payable to M/s. R. M Bansal & Co, Cost
year ended on that date and the Reports of Statutory Auditor (Registration Number '000022) who were appointed
Auditor and Comptroller and Auditor General of India as Cost Auditor by the Board of Directors of the Company to
thereon. conduct the audit of the cost records of CIL (Standalone) for
the financial year ended 31st March, 2023 be and is hereby
2. To confirm 1st and 2nd Interim dividend paid @ H 15/- per ratified.”
share (150%) and H 5.25/- per share(52.50%) respectively
on equity shares for the financial year 2022-23 and to
declare final dividend @ H 4/- per share (40%) on equity Special Business: - Ordinary Resolution
shares for the financial year 2022-23.
ITEM No. 6:
3. To appoint a director in place of Shri Vinay Ranjan [DIN-
To consider and if thought fit, to pass with or without
03636743] who retires by rotation in terms of Section 152(6)
modification(s), the following resolution as an Ordinary
of the Companies Act, 2013 and Article 39(j) of Articles
Resolution:
of Association of the Company and being eligible, offers
himself for reappointment.
“RESOLVED THAT pursuant to the provisions of Sections “FURTHER RESOLVED THAT the Company Secretary be and
152 and other applicable provisions of the Companies Act, is hereby authorized to file necessary forms with MCA as per
2013 and the rules made thereunder (including any statutory applicable provisions of Companies Act, 2013 read with Rules
modification(s) or re-enactment thereof for the time being in thereunder.”
force) and provisions of any other guidelines issued by relevant
authorities, Shri Nagaraju Maddirala[DIN: 06852727], who was
Special Business - Ordinary Resolution
appointed by the Board of Directors as an Additional Director of
the Company with effect from 22nd February 2023 and who holds ITEM No. 8
office upto the date of this Annual General Meeting in terms of
Section 161(1) of Companies Act, 2013 and in respect of whom To consider and if thought fit, to pass with or without
the Company has received a notice in writing from a Member modification(s), the following resolution as an Ordinary
under Section 160(1) of the Companies Act, 2013 proposing Resolution:
his candidature for the office of the Director, be and is hereby
“RESOLVED THAT pursuant to the provisions of Sections 152
appointed as an Official part time Director of the Company w.e.f
and any other applicable provisions of the Companies Act,
22nd February 2023 and until further orders, in terms of Ministry
2013 and the rules made thereunder (including any statutory
of Coal letter no-21/3/2011-ASO/BA/Estt dated 22nd February
modification(s) or re-enactment thereof for the time being in
2023. He is liable to retire by rotation.”
force) and provisions of any other guidelines issued by relevant
“FURTHER RESOLVED THAT the Company Secretary be and authorities, Shri P M Prasad [DIN: 08073913], who was
is hereby authorized to file necessary forms with MCA as per appointed by the Board of Directors as an Additional Director to
applicable provisions of Companies Act, 2013 read with Rules function as Chairman-cum Managing Director of the Company
thereunder.” with effect from 1st July’ 2023 and who holds office upto the
date of this Annual General Meeting in terms of Section 161(1)
of Companies Act, 2013 and in respect of whom the Company
Special Business: - Special Resolution
has received a notice in writing from a Member under Section
ITEM No. 7 160(1) of the Companies Act, 2013 proposing his candidature
for the office of the Director, be and is hereby appointed as a
To consider and if thought fit, to pass with or without Whole time Director to function as Chairman-cum-Managing
modification(s), the following resolution as a Special Resolution: Director of the Company w.e.f 1st July’ 2023 to 31st October
2025 or until further orders, in terms of Ministry of Coal letter no.
“RESOLVED THAT pursuant to the provisions of Sections 21/26/2022-ESTABLISHMENT dated 28th June’2023. He is not
149, 150, 152 read with Schedule IV and any other applicable liable to retire by rotation.”
provisions of the Companies Act, 2013 as amended from
time to time and the rules made thereunder (including any “FURTHER RESOLVED THAT the Company Secretary be and
statutory modification(s) or re-enactment thereof for the time is hereby authorized to file necessary forms with MCA as per
being in force) and SEBI (Listing Obligations and Disclosure applicable provisions of Companies Act, 2013 read with Rules
Requirements) Regulations, 2015 and provisions of any other thereunder.”
guidelines issued by relevant authorities, Shri Ghanshyam
Singh Rathore, [DIN: 09615384], who was appointed by the By order of the Board of Directors
Board of Directors as an Additional Director in the capacity For Coal India Limited
of an Independent Director with effect from 1st March, 2023
and who holds office up to the date of the this annual general Sd/-
meeting in terms of Section 161(1) of Companies Act, 2013, (B.P DUBEY)
who has submitted a declaration that he meets the criteria for Company Secretary &
independence as provided in Section 149(6) of the Act and Rules Compliance officer
framed thereunder and Regulation 16(1)(b) of the SEBI Listing Date: 18th July, 2023
Regulations, as amended and in respect of whom the Company
has received a notice in writing from a Member under Section Registered Office:
160(1) of the Companies Act, 2013, proposing his candidature Coal Bhawan, Premises No-04 MAR,
for the office of the Director, be and is hereby appointed as an Plot No-AF-III, Action Area-1A,
Independent Director for a period of three years with effect from New town, Rajarhat, Kolkata-700156
1st March’23 or until further orders, in terms of Ministry of Coal Email-complianceofficer.cil@coalindia.in
letter no- . 21/19/2021-BA/Estt-(i) dated 1st March’ 2023.He is Website: www.coalindia.in
not liable to retire by rotation. CIN: L23109WB1973GOI028844
515-533
Notice 517
NOTES:- 7. Members may avail the facility of nomination in terms of

Section 72 of the Companies Act, 2013 by nominating any
1. Ministry of Corporate Affairs (“MCA”) vide its circular person to whom their shares in the Company shall vest on
dated 28th Dec’ 22 read with circular dated 5th May occurrence of events stated in Form-SH-13. Form-SH-13
’20, 13th Jan’21, 8th Dec’21, 14th Dec’21 and 5th May’ is to be submitted in duplicate to M/s Alankit Assignments
22 (collectively referred to as “MCA Circulars”) had Limited, RTA of the Company. In case of shares held in
permitted holding of the Annual General Meeting dematerialized form, the nomination has to be lodged with
(“AGM”) through VC / OAVM, without the physical the respective Depository Participant.
presence of the Members at a common venue. Further,
the Securities and Exchange Board of India (“SEBI”) 8. Members are requested to notify immediately any change
vide its Circular dated 5th Jan’ 23 had also granted of address and Bank Account:
certain relaxations. In compliance with the provisions
of the Companies Act, 2013 (“Act”), SEBI (Listing i. to their DP in respect of shares held in dematerialized
Obligations and Disclosure Requirements) Regulations, form, and
2015 (“SEBI Listing Regulations”), MCA Circulars and
ii. to the Company at its Registered Office or to its
SEBI Circulars, the AGM of the Company is being
RTA, M/s Alankit Assignments Ltd. in respect of their
held through VC / OAVM. The registered office of the
physical shares, if any, quoting their folio number.
company shall be deemed to be the venue for the AGM.
9. Institutional / Corporate Shareholders (i.e. other than
2. Since this AGM is being held pursuant to MCA Circulars
individuals / HUF, NRI, etc.) are required to send a scanned
through VC / OAVM, physical attendance of Members
copy (PDF/JPG Format) of its Board or governing body
has been dispensed with. Accordingly, the facility
Resolution/Authorization etc., authorizing its representative
for appointment of proxies by the Members will not
to attend the AGM through VC / OAVM on its behalf and
be available for the AGM and hence the Proxy Form
to vote through remote e-voting. The said Resolution/
and Attendance Slip are not annexed to this Notice.
Authorization shall be sent to pcs.saurabhbasu@gmail.
Members attending the AGM through VC / OAVM shall
com, Scrutinizer through your registered email address
be counted for the purpose of quorum under Section
with a copy marked to evoting@nsdl.co.in. Institutional
103 of the Act.
shareholders (i.e. other than individuals, HUF, NRI etc.) can
3. The Company is providing facility for voting by electronic also upload their Board Resolution / Power of Attorney
means (e-voting) and the business set out in the notice / Authority Letter etc. by clicking on "Upload Board
will be transacted through such voting. Information and Resolution / Authority Letter" displayed under "e-Voting"
instructions relating to e-voting are given in this notice in tab in their login.
Note no. 23
10. Non-Resident Indian Members are requested to inform M/s
4. The Final dividend on equity shares, as recommended Alankit Assignments Limited, immediately of:
by the Board of Directors, at its 451st meeting held on 7th
i) Change in their residential status on return to India for
May, 2023 if approved at the Annual General Meeting, will
permanent settlement
be paid within 30 days from the date of approval to the
Members or their mandates whose names appear in the ii) Particulars of their bank account maintained in India
Company’s Register of Members on 18th Aug’ 2023. with complete name, branch, account type, account
number, IFSC code and address of the bank with pin
5. Members are advised to submit their Electronic Clearing
code number, if not furnished earlier.
System (ECS) mandates, to enable the Company to make
remittance by means of ECS. Those holding shares in 11. The Board of Directors of your company at its 447th & 449th
physical form may obtain and send ECS mandate form meeting held on 7th Nov’ 22 and 31st January’ 23 respectively
to M/s Alankit Assignments Limited, Registrar & Share had declared 1st Interim dividend @ 150% (H 15/- per share)
Transfer Agent (RTA) of the Company. Those holding shares and 2nd Interim Dividend @ 52.50% (H 5.25/- per share) on
in Electronic Form may obtain and send ECS mandate form the paid-up equity share capital of the company which
directly to their Depository Participant (DP). Those who have was paid in December’ 22 and March’ 23 respectively.
already furnished ECS Mandate Form to the Company/ RTA Members who have not received or not encashed their
/DP with complete details need not send it again. dividend warrants may approach M/s Alankit Assignments
Limited, Registrar & Share Transfer Agent of the Company
6. Members holding shares in electronic mode may note
for obtaining Divident warrant.
that bank particulars registered against their respective
depository accounts will be used by the Company for The Ministry of Corporate Affairs had notified provisions
payment of dividend. The Company or M/s Alankit relating to unclaimed dividend under Section 124 of
Assignments Ltd cannot act on any request received Companies Act 2013, Transfer of unpaid Dividend amount
directly from members holding shares in electronic mode to Investor Education and Protection Fund under Section
for any change of bank particulars or bank mandates. Such 125 of the Companies Act, 2013 and Investor Education
changes are to be made only to the Depository Participants and Protection Fund [Accounting, Audit, Transfer and
(DPs) by the members.
Refund] Rules 2017. As per these Rules, dividend, which Dividend 2016-17 and other dividends declared by the
are not encashed/ claimed by the shareholder for a period company thereafter, are advised to write to the Company
of seven consecutive years shall be transferred to the immediately to claim dividends declared by the Company.
Investor Education and Protection Fund Authority (IEPF).
The Rules also mandates the companies to transfer the Pursuant to the provisions of IEPF Rules, all shares in
shares of shareholders whose dividends remain unpaid/ respect of which dividend has not been claimed for seven
unclaimed for a period of seven consecutive years to the consecutive years shall be transferred by the Company
Demat account of IEPF Authority. Hence, the company to the designated Demat Account of the IEPF Authority
urges all the shareholders to encash/claim their respective (‘IEPF Account’) as per statutory timelines. Accordingly,
dividend during the prescribed period. Company has the Company had transferred 32520 equity shares of H 10/-
uploaded the details of unpaid and unclaimed amounts each pertaining to 567 shareholders to the IEPF Account
lying with the Company on the website of the Company on which Interim dividend 2015-16 remained unclaimed for
(www.coalindia.in), and also on the website of Ministry of seven consecutive years as per the prescribed procedure.
Corporate Affairs (www.mca.gov.in).
Further, all the shareholders who have not claimed their
As per Section 125 of the Companies Act, 2013 and Dividend in the last seven consecutive years from 1st and
Investor Education and Protection Fund [Accounting, 2nd Interim Dividend of 2016-17 are requested to claim the
Audit, Transfer and Refund] Rules 2017, the Company had same at the earliest. In case valid claim is not received by
transferred H 1,61,82,451/- of Interim Dividend 2015-16 to the company within the scheduled date, the Company will
IEPF Authority on 17.04.2023. The details are also available proceed to transfer the respective shares to the IEPF Account
on CIL website. The Company had sent reminders to in terms of the IEPF Rules. In this regard, the Company has
those members to claim their unclaimed dividends before individually informed the shareholders concerned and also
transfer of such dividend(s) to IEPF as per IEPF Rules 2017. published notice in the newspapers as per the IEPF Rules.
Details of the unclaimed dividend are also uploaded, on the The details of such shareholders and shares due for transfer
Company’s website www.coalindia.in. Members, who have are uploaded on the “Investors Section” of the website of
not claimed their dividend pertaining to 1st and 2nd Interim the Company viz. www.coalindia.in
Due dates for transfer to IEPF account of unclaimed dividends declared by the company till date are as under:
Due date of
Particulars Declared on
transfer
1st Interim Dividend 2016-17 06.03.2017 05.04.2024
2nd Interim Dividend 2016-17 26.03.2017 25.04.2024
Interim Dividend 2017-18 10.03.2018 09.04.2025
Interim Dividend 2019-20 12.03.2020 11.04.2027
Final Dividend 2020-21 15.09.2021 14.10.2028
Final Dividend 2021-22 30.08.2022 29.09.2029
12. Pursuant to Section 143(5) of the Companies Act, 2013, the determine. The Members of your Company in its 27th
Auditors of a Government Company are to be appointed Annual General Meeting held on 29th September, 2001 had
or re-appointed by the Comptroller and Auditor General authorised the Board of Directors to fix the remuneration of
of India (C & AG) under Section 139(5) of Companies Act Statutory Auditors.
2013 and in terms of sub-section(1) of Section 142 of
the Companies Act, 2013. Their remuneration has to be 13. The Register of Directors, Key Managerial Personnel and
fixed by the Company in the Annual General Meeting or their shareholding maintained under Section 170 of the
in such manner as the Company in General Meeting may Companies Act, 2013, will be available for inspection by
the members electronically at the AGM.
515-533
Notice 519
14. The Register of Contracts or Arrangements, in which 2022-23 will also be available on the Company’s website
Directors are interested, maintained under section 189 of www.coalindia.in, websites of the Stock Exchanges i.e.
Companies Act, 2013, will be available for inspection by the BSE and NSE at www.bseindia.com and www.nseindia.
members electronically at the AGM. com respectively, and on the website of NSDL https://www.
evoting.nsdl.com.
15. All documents referred to in the accompanying notice are
open for inspection at the AGM and such documents will 17. In terms of Section 152 of the Companies Act, 2013 Shri
also be available for inspection in physical or in electronic Vinay Ranjan [DIN-03636743] and Dr. B Veera Reddy
form at the Registered office of the Company and copies [DIN-08679590], Director, retires by rotation at the
thereof shall also be available for inspection at the general meeting and being eligible, offers himself for re-
Registered office of the Company during normal business appointment. Details of Director seeking re-appointment
hours on working days from 11.00 AM to 1.00 PM from 3rd as required to be provided pursuant to the provisions of
Aug ‘23 to 14th Aug ‘23. (i) Regulation 36(3) of Securities and Exchange Board of
India (Listing Obligations and Disclosure Requirements)
16. In compliance with the aforesaid MCA Circulars and SEBI Regulations, 2015 and (ii) para 1.2.5 of Secretarial Standard
Circulars, the Notice of the AGM along with the Integrated on General Meetings (“SS-2”), issued by The Institute of
Annual Report 2022-23 is being sent only through Company Secretaries of India are as under. The Directors
electronic mode to those Members whose email addresses have furnished the requisite consent/declaration for their
are registered with the Company/ Depositories. Members re-appointment.
may note that the Notice and Integrated Annual Report
Name of Director Shri Vinay Ranjan Dr. B. Veera Reddy
DIN 03636743 08679590

Date of Birth 08.12.1970 20.08.1964
Nationality Indian Indian
Date of appointment on the Board 28.07.2021 01.02.2022
Qualification BSc (Physics) B.Tech( Mining)
PG Diploma (PM&IR) First Class Managers Competency Certificate - DGMS
INSEAD (Alumni) M.Tech( Mining)
PhD
List of Directorships held in other NA NA
listed company
Membership of other Committees NA NA
in other Listed Companies
Membership of other Committees Stakeholder Relationship Committee, Audit Committee,
in Coal India Ltd Risk Management Committee, Risk Management Committee,
CSR Committee and Empowered Sub-committee for Evaluation, Appraisal
Share Transfer Committee & Approval of Projects and
Share Transfer Committee
Disclosure of relationship Not Related Not Related
between Directors inter-se
Expertise Varied experience in entire gamut of HR, Varied experience in coal mining, planning,
which includes large scale lateral/campus procurement and operations
hiring, Talent Management etc.
Shareholding in Coal India Limited NIL NIL
Profile of Shri Vinay Ranjan and Dr. B. Veera Reddy is 20. Members who hold shares in physical form in multiple
given under “Brief profile of Directors” in Integrated Annual folios in identical names or joint holding in the same order
Report 2022-23. of names are requested to send the share certificates to
M/s Alankit Assignments Limited, for consolidation into
18. The Securities and Exchange Board of India (SEBI) has a single folio. SEBI has stipulated that securities of listed
mandated submission of Permanent Account Number companies can be transferred only in dematerialized form
(PAN) by every participant in securities market. Members from 1st April’2019. In view of the above and to avail various
holding shares in electronic form are, therefore, requested benefits of dematerialization, members are advised to
to submit their PAN to their Depository Participant with dematerialize the shares held by them in physical form.
whom they are maintaining their Demat accounts. Members SEBI vide its circular no. SEBI/HO/MIRSD_RTAMB/P/
holding shares in physical form can submit their PAN to the CIR/2021/655 dated 3rd November’2021 read with circular
Company/ M/s Alankit Assignments Limited. no. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/687
dated 14th Dec.’2021, Circular no. SEBI/HO/MIRSD_
19. The Explanatory Statement pursuant to Section 102(1) of
POD-1/P/CIR/2023/37 dated 16th March’ 2023 has made
the Companies Act, 2013 in respect of Special businesses
is annexed herewith.
mandatory furnishing of PAN, KYC details and nomination requested to visit CIL website (www.coalindia.in) and fill
by holders of physical securities. Accordingly CIL had up the required forms under “Investor tab/Shareholders
sent letter to 1616 physical shareholders informing them FORMS” and send it to M/s Alankit Assignments Limited,
to update their KYC. Shareholders had also been informed 205-208 Anarkali Complex Jhandewalan Extension, New
that in case KYC documents is not available in the folio Delhi – 110 055.
on or after October 1, 2023, such folios shall be frozen by
the RTA. Once folio is frozen, any service request in such 21. Tax Deductible at Source /Withholding tax: Pursuant to
folio shall be processed by the RTA only after receipt of the requirement of Income Tax Act, 1961, (‘the Act’) the
the complete documents. If the folio remains frozen till Company will be required to deduct taxes at the prescribed
December 31, 2025, it shall be referred to the Administering rates on the dividend paid to its shareholders. The
Authority under Benami Transactions (Prohibitions) Act, deductible tax rate would vary depending on the residential
1988 and/or Prevention of Money Laundering Act, 2002 status of the shareholder and documents submitted by
for necessary action. Hence, physical shareholders are shareholder to the Company for Dividend payment.
Resident Shareholder:
Applicable
Particulars Documents required (if any)
Rate
With PAN 10.00.% No deduction of taxes in the following cases:
• If dividend income to a resident Individual shareholder during FY

2023-24 does not exceed H 5,000/-
• If shareholder is exempted from TDS provisions through any circular or

notification and provides an attested copy of the PAN along with the
documentary evidence in relation to the same
Update/Verify the PAN, and the residential status as per Act, if not already
done, with the depositories (in case equity shares are held in DEMAT mode)
and with the Company’s Registrar and Transfer Agents (RTA) – Alankit
Assignments Ltd., Alankit House 4E/2, Jhandewalan Extension New
Delhi-110055 (in case equity shares are held in physical mode).
Without PAN/ Invalid PAN (Section 20% N.A.
206AA of the Act) / Shareholders
identified as ‘specified persons’ for
the purpose of higher deduction
of tax as per ‘Compliance Check
Facility’ made available by the
Income-tax department (Section
206AB of the Act)
Submitting Form 15G/ Form 15H NIL Duly verified Form 15G (applicable to a resident individual) or 15H
(applicable to an Individual who is aged 60 years and above and older) is to
be furnished along with self-attested copy of PAN card. (This form can be
submitted only in case the shareholder’s tax on estimated total income for
FY 2023-24 is Nil).
The Forms can be downloaded from the link https://www.incometaxindia.

gov.in/pages/downloads/most-used-forms.aspx
Submitting Order under Section 197 Rate Lower/NIL withholding tax certificate obtained from tax authority. Tax will be
of the Act provided in deducted at the rate specified in the said certificate, subject to furnishing of
the Order a self-attested copy of the same. The certificate should be valid for the FY
2023-24 and should cover the dividend income.
An Insurance Company as specified NIL Self-declaration that it has full beneficial interest with respect to the
under Sec 194 of the Act shares owned by it along with Self attested copy of PAN card and copy of
registration certification issued by the IRDAI.
Mutual Fund specified under clause NIL Self-declaration that they are specified as in Section 10 (23D) of the Act
(23D) of Section 10 of the Act along with self-attested copy of PAN card and registration certificate.
515-533
Notice 521
Applicable
Particulars Documents required (if any)
Rate
Any person for or on behalf of New NIL Self-declaration that they are specified as in Section 10 (44) of the Act.
Pension System – Trust under clause
(44) of Section 10 of the Act
Alternative Investment Fund (AIF) NIL Self-declaration that they are specified in Section 10 (23FBA) of the Act
established in India and established as Category I or Category II AIF under the SEBI regulations
along with self-attested copy of PAN card and registration certificate issued
by SEBI.
Non-Resident Shareholder:
Particulars Applicable Rate Documents required (if any)

Foreign Institutional 20% (plus Update/Verify the PAN and legal entity status as per the Act, if not already done,
Investors (FIIs) / Foreign applicable with the depositories (in case equity shares are held in DEMAT mode) or with
Portfolio Investors (FPIs) surcharge and the Company’s Registrar and Transfer Agents Alankit Assignments Ltd 4E/2,
cess) Jhandewalan Extension New Delhi-110055 (in case equity shares are held in
physical mode). Provide self-declaration whether the investment in shares has
been made under the general FDI route or under the FPI route.
Other Non-resident 20% (plus Update/Verify the PAN, legal entity status and the residential status as per the Act,
shareholders applicable if not already done, with the depositories (in case of shares held in DEMAT mode)
surcharge and and with the Company’s Registrar and Transfer Agents - Alankit Assignments Ltd
cess) 4E/2, Jhandewalan Extension New Delhi-110055 (in case of shares held in physical
mode).
Lower rate prescribed Tax Treaty Rate** In order to apply the Tax Treaty rate, all the following documents would be required:
under the tax treaty which 1. Self-Attested copy of Indian Tax Identification number (PAN).
applies to the non-resident
2. Self-Attested copy of the Tax Residency Certificate (TRC) valid as on the
shareholder (other than
record date obtained from the tax authorities of the country of which the
investments made under
shareholder is a resident.
FPI route)
3. Electronically Filed Form-10F on the Indian Income Tax Portal. The declaration
format can be downloaded from the following link https://www.incometaxindia.
gov.in/forms/income-tax%20rules/103120000000007197.pdf
4. Self-declaration from Non-resident, primarily covering the following:
• Non-resident is eligible to claim the benefit of respective tax treaty;
• Non-resident receiving the dividend income is the beneficial owner of
such income;
• Dividend income is not attributable/effectively connected to any Permanent
Establishment (PE) or Fixed Base in India;
• Non-resident complies with any other condition prescribed in the relevant
Tax Treaty and provisions under the Multilateral Instrument (‘MLI’);
• Non-resident does not have a place of effective management in India.
**Application of the beneficial rate of tax treaty for TDS is at the discretion of the company and
shall depend upon completeness of the documentation and review of the same by the Company.
Non-Resident Shareholders 30% -
who are tax residents of
Notified Jurisdictional Area
as defined under Section
94A(1) of the Act
Sovereign Wealth Fund, NIL Self-declaration substantiating the fulfillment of conditions prescribed under
Pension Funds, Other section 10(23FE) of the Act.
bodies notified under
section 10(23FE) of the Act
Submitting Order u/s Rate provided in Lower/NIL withholding tax certificate obtained from tax authority. Tax will be
197 (i.e. lower or NIL the Order deducted at the rate specified in the said certificate, subject to furnishing a self-
withholding tax certificate) attested copy of the same. The certificate should be valid for the FY 2023-24 and
should cover the dividend income.
Particulars Applicable Rate Documents required (if any)

Without PAN/ Invalid PAN 20% (plus NA
(Section 206AA of the Act) applicable
surcharge and
cess)
Shareholders identified 40% (plus NA
as ‘specified persons’ applicable
for the purpose of higher surcharge and
deduction of tax as per cess)
‘Compliance Check
Facility’ made available by
the Income-tax department
(Section 206AB of the Act)
**The Company is not obligated to apply the beneficial Tax Treaty rates at the time of tax deduction/withholding on dividend amounts. Application of beneficial
Tax Treaty Rate shall depend upon the completeness of the documents submitted by the Non- Resident shareholder and review to the satisfaction of the
Company. Further, the company shall not consider impact of Most Favored Nation Clause, if any, present in the Tax Treaty of the shareholder, while determining
the withholding amount.
Notes: than cil.taxdoc@coalindia.in shall be entertained for

purpose of calculation of TDS for payment of the Dividend.
(i) In case tax on dividend is deducted at a higher rate in
the absence of receipt of the aforementioned details / (iv) We also request you to submit / update your bank account
documents, you would still have the option of claiming details with your Depository Participant, in case you
refund of the excess tax paid at the time of filing your are holding shares in the electronic form. In case your
income tax return. No claim shall lie against the Company shareholding is in the physical form, you will have to submit
for such taxes deducted. a scanned copy of a covering letter, duly signed by the
first shareholder, along with a cancelled cheque leaf with
To verify the tax deduction, the shareholders can also check your name and bank account details and a copy of your
their Form 26AS/ Annual Information Statement (AIS) from PAN card, duly self-attested, to Alankit Assignments Ltd at
their e-filing account at https://incometaxindiaefiling.gov.in. 4E/2, Jhandewalan Extension New Delhi-110055. This will
facilitate receipt of dividend directly into your bank account.
(ii) The documents as applicable, are required to be sent
In case the cancelled cheque leaf does not bear your name,
to “ The Company Secretary, Coal Bhawan, Core-2, 3rd
please attach a copy of the bank pass-book statement,
floor, Premises No.04, MAR, Plot No.AF-III, Action Area
duly self-attested. We also request you to register/update
IA, New Town, Rajarhat, Kolkata-700156” along with a
your email IDs and mobile numbers with Depositories / RTA
signed request letter within 22nd August, 2023 in order
at Alankit Assignments Ltd. 4E/2, Jhandewalan Extension
to enable the Company to determine the appropriate TDS
New Delhi-110055.
rates. It is advisable to send the documents at the earliest
so as to enable the Company to collate the documents to For further clarification or query on tax related issues,
determine the appropriate TDS rates. The certified copy please send your mail to cil.taxdoc@coalindia.in. Please
of documents along with a request letter should be sent intimate your contact no. and PAN in the mail so that we
from your registered email to the company email id at cil. can get back to you in case of any issues.
taxdoc@coalindia.in.
(iii) No communication relating to tax determination/deduction

received after 22nd August, 2023 or in any email ids other
22. Members are requested to address all correspondences, other than tax on dividend matters to our Registrar and Share Transfer
Agents on any one of the below mentioned addresses:
M/s. Alankit Assignment Limited M/s Alankit Assignments Limited

205-208 Anarkali Complex Jhandewalan Extension, 3B Ground Floor, Lal Bazar Street
New Delhi – 110 055 Kolkata 700 001
Phone No: 011-4254-1234/2354-1234 E-mail id: rta@alankit.com
E-mail id: rta@alankit.com Ph. no.: 033-4401-4100/4200
Website: www.alankit.com Toll-free-1860-121-2155
Toll free no-1860-121-2155
515-533
Notice 523
For tax on dividend related correspondences, members are member using remote e-Voting system as well as Electronic
requested to communicate on the following address and email voting on the date of the AGM will be provided by NSDL.
ids: -
In line with the Ministry of Corporate Affairs (MCA) above
The Company Secretary, mentioned circulars, the Notice calling the AGM has been
Coal Bhawan, Core-2, 3rd floor, Premises No.04, MAR, Plot uploaded on the website of the Company at. https://www.
No.AF-III, Action Area IA, coalindia.in/. The Notice can also be accessed from the
New Town, Rajarhat, Kolkata-700156 websites of the Stock Exchanges i.e. BSE and NSE at
Email- cil.taxdoc@coalindia.in www.bseindia.com and www.nseindia.com respectively
and it is also available on the website of NSDL (agency for
23. STEPS FOR REMOTE E-VOTING: - providing the e-Voting facility) i.e. www.evoting.nsdl.com.
The Members can join the AGM in the VC/OAVM mode
15 minutes before and after the scheduled time of the THE INSTRUCTIONS FOR MEMBERS FOR
commencement of the Meeting by following the procedure REMOTE E-VOTING AND JOINING GENERAL
mentioned in the Notice. The facility of participation at MEETING ARE AS UNDER:-
the AGM through VC/OAVM will be made available for
1000 members on first come first served basis. This will The remote e-voting period begins on 19th August’ 2023 at
not include large Shareholders (Shareholders holding 2% 9:00 A.M. and ends 22nd August’ 2023 at 5:00 P.M. The remote
or more shareholding), Promoters, Institutional Investors, e-voting module shall be disabled by NSDL for voting thereafter.
Directors, Key Managerial Personnel, the Chairpersons The Members, whose names appear in the Register of Members
of the Audit Committee, Nomination and Remuneration / Beneficial Owners as on the cut-off date i.e. 16th Aug’ 2023 may
Committee and Stakeholders Relationship Committee, cast their vote electronically. The voting right of shareholders shall
Auditors etc. who are allowed to attend the AGM without be in proportion to their share in the paid-up equity share capital
restriction on account of first come first served basis. The of the Company as on the cut-off date, being 16th Aug’ 2023.
attendance of the Members attending the AGM through
How do I vote electronically using NSDL e-Voting
VC/OAVM will be counted for the purpose of reckoning the
system?
quorum under Section 103 of the Companies Act, 2013.
The way to vote electronically on NSDL e-Voting system
Pursuant to the provisions of Section 108 of the
consists of “Two Steps” which are mentioned below:
Companies Act, 2013 read with Rule 20 of the Companies
(Management and Administration) Rules, 2014 (as Step 1: Access to NSDL e-Voting system
amended) and Regulation 44 of SEBI (Listing Obligations &
Disclosure Requirements) Regulations 2015 (as amended), A) Login method for e-Voting and joining virtual meeting
and the Circulars issued by the Ministry of Corporate for Individual shareholders holding securities in
Affairs dated April 08, 2020, April 13, 2020, May 05, 2020, demat mode
January13, 2021,May 5, 2022, December28, 2022 the
In terms of SEBI circular dated December 9, 2020 on
Company is providing facility of remote e-Voting to its
e-Voting facility provided by Listed Companies, Individual
Members in respect of the business to be transacted at
shareholders holding securities in demat mode are allowed
the AGM. For this purpose, the Company has entered into
to vote through their demat account maintained with
an agreement with National Securities Depository Limited
Depositories and Depository Participants. Shareholders are
(NSDL) for facilitating voting through electronic means, as
advised to update their mobile number and email Id in their
the authorized agency. The facility of casting votes by a
demat accounts in order to access e-Voting facility.
Login method for Individual shareholders holding securities in demat mode is given below:
Type of shareholders Login Method

Individual Shareholders holding 1. Existing IDeAS user can visit the e-Services website of NSDL Viz. https://eservices.
securities in demat mode with nsdl.com either on a Personal Computer or on a mobile. On the e-Services home
NSDL. page click on the “Beneficial Owner” icon under “Login” which is available under
‘IDeAS’ section , this will prompt you to enter your existing User ID and Password.
After successful authentication, you will be able to see e-Voting services under Value
added services. Click on “Access to e-Voting” under e-Voting services and you will
be able to see e-Voting page. Click on company name or e-Voting service provider
i.e. NSDL and you will be re-directed to e-Voting website of NSDL for casting your
vote during the remote e-Voting period or joining virtual meeting & voting during the
meeting.
Type of shareholders Login Method

2. If you are not registered for IDeAS e-Services, option to register is available at https://
eservices.nsdl.com. Select “Register Online for IDeAS Portal” or click at https://
eservices.nsdl.com/SecureWeb/IdeasDirectReg.jsp
3. Visit the e-Voting website of NSDL. Open web browser by typing the following URL:
https://www.evoting.nsdl.com/ either on a Personal Computer or on a mobile. Once
the home page of e-Voting system is launched, click on the icon “Login” which is
available under ‘Shareholder/Member’ section. A new screen will open. You will have
to enter your User ID (i.e. your sixteen digit demat account number hold with NSDL),
Password/OTP and a Verification Code as shown on the screen. After successful
authentication, you will be redirected to NSDL Depository site wherein you can see
e-Voting page. Click on company name or e-Voting service provider i.e. NSDL and
you will be redirected to e-Voting website of NSDL for casting your vote during the
remote e-Voting period or joining virtual meeting & voting during the meeting.
4. Shareholders/Members can also download NSDL Mobile App “NSDL Speede”

facility by scanning the QR code mentioned below for seamless voting experience.
Individual Shareholders holding 1. Users who have opted for CDSL Easi / Easiest facility, can login through their existing
securities in demat mode with user id and password. Option will be made available to reach e-Voting page without
CDSL any further authentication. The users to login Easi /Easiest are requested to visit
CDSL website www.cdslindia.com and click on login icon & New System Myeasi Tab
and then user your existing my easi username & password.
2. After successful login the Easi / Easiest user will be able to see the e-Voting option for
eligible companies where the evoting is in progress as per the information provided
by company. On clicking the evoting option, the user will be able to see e-Voting
page of the e-Voting service provider for casting your vote during the remote e-Voting
period or joining virtual meeting & voting during the meeting. Additionally, there is also
links provided to access the system of all e-Voting Service Providers, so that the user
can visit the e-Voting service providers’ website directly.
3. If the user is not registered for Easi/Easiest, option to register is available at CDSL
website www.cdslindia.com and click on login & New System Myeasi Tab and then
click on registration option.
4. Alternatively, the user can directly access e-Voting page by providing Demat Account
Number and PAN No. from a e-Voting link available on www.cdslindia.com home
page. The system will authenticate the user by sending OTP on registered Mobile &
Email as recorded in the Demat Account. After successful authentication, user will
be able to see the e-Voting option where the evoting is in progress and also able to
directly access the system of all e-Voting Service Providers.
Individual Shareholders (holding You can also login using the login credentials of your demat account through your
securities in demat mode) Depository Participant registered with NSDL/CDSL for e-Voting facility. upon logging in,
login through their depository you will be able to see e-Voting option. Click on e-Voting option, you will be redirected
participants to NSDL/CDSL Depository site after successful authentication, wherein you can see
e-Voting feature. Click on company name or e-Voting service provider i.e. NSDL and you
will be redirected to e-Voting website of NSDL for casting your vote during the remote
e-Voting period or joining virtual meeting & voting during the meeting.
Important note: Members who are unable to retrieve User ID/ Password are advised to use Forget User ID and Forget Password
option available at abovementioned website.
515-533
Notice 525
Helpdesk for Individual Shareholders holding securities in demat mode for any technical issues related to login through
Depository i.e. NSDL and CDSL.
Login type Helpdesk details

Individual Shareholders holding Members facing any technical issue in login can contact NSDL helpdesk by sending a
securities in demat mode with request at evoting@nsdl.co.in or call at 022 - 4886 7000 and 022 - 2499 7000
NSDL
Individual Shareholders holding Members facing any technical issue in login can contact CDSL helpdesk by sending
securities in demat mode with a request at helpdesk.evoting@cdslindia.com or contact at 022- 23058738 or 022-
CDSL 23058542-43
B) Login Method for e-Voting and joining virtual meeting for shareholders other than Individual shareholders holding
securities in demat mode and shareholders holding securities in physical mode.
How to Log-in to NSDL e-Voting website?
1. Visit the e-Voting website of NSDL. Open web browser by typing the following URL: https://www.evoting.nsdl.com/ either
on a Personal Computer or on a mobile.
2. Once the home page of e-Voting system is launched, click on the icon “Login” which is available under ‘Shareholder/
Member’ section.
3. A new screen will open. You will have to enter your User ID, your Password/OTP and a Verification Code as shown on the
screen.
Alternatively, if you are registered for NSDL eservices i.e. IDEAS, you can log-in at https://eservices.nsdl.com/ with your
existing IDEAS login. Once you log-in to NSDL eservices after using your log-in credentials, click on e-Voting and you can
proceed to Step 2 i.e. Cast your vote electronically.
4. Your User ID details are given below :
Manner of holding shares i.e.

Demat (NSDL or CDSL) or Your User ID is:
Physical
a) For Members who hold 8 Character DP ID followed by 8 Digit Client ID
shares in demat account For example if your DP ID is IN300*** and Client ID is 12****** then your user ID is
with NSDL. IN300***12******.
b) For Members who hold 16 Digit Beneficiary ID
shares in demat account For example if your Beneficiary ID is 12************** then your user ID is 12**************
with CDSL.
c) For Members holding shares EVEN Number followed by Folio Number registered with the company
in Physical Form. For example if folio number is 001*** and EVEN is 101456 then user ID is 101456001***
5. Password details for shareholders other than Individual open the attachment i.e. a .pdf file. Open the
shareholders are given below: .pdf file. The password to open the .pdf file
is your 8 digit client ID for NSDL account,
a) If you are already registered for e-Voting, then you last 8 digits of client ID for CDSL account or
can use your existing password to login and cast folio number for shares held in physical form.
your vote. The .pdf file contains your ‘User ID’ and your
‘initial password’.
b) If you are using NSDL e-Voting system for the first
time, you will need to retrieve the ‘initial password’ (ii) If your email ID is not registered, please
which was communicated to you. Once you follow steps mentioned below in process for
retrieve your ‘initial password’, you need to enter those shareholders whose email ids are not
the ‘initial password’ and the system will force you registered.
to change your password.
6. If you are unable to retrieve or have not received the “
c) How to retrieve your ‘initial password’? Initial password” or have forgotten your password:
(i) If your email ID is registered in your demat a) Click on “Forgot User Details/Password?”(If you
account or with the company, your ‘initial are holding shares in your demat account with
password’ is communicated to you on your NSDL or CDSL) option available on www.evoting.
email ID. Trace the email sent to you from nsdl.com.
NSDL from your mailbox. Open the email and
b) Physical User Reset Password?” (If you are (i.e. other than individuals, HUF, NRI etc.) can also upload
holding shares in physical mode) option available their Board Resolution / Power of Attorney / Authority Letter
on www.evoting.nsdl.com. etc. by clicking on "Upload Board Resolution / Authority
Letter" displayed under "e-Voting" tab in their login.
c) If you are still unable to get the password by
aforesaid two options, you can send a request 2. Any person holding shares in physical form and non-
at evoting@nsdl.co.in mentioning your demat individual shareholders, who acquires shares of the
account number/folio number, your PAN, your Company and becomes member of the Company after the
name and your registered address etc. notice is sent through e-mail and holding shares as of the
cut-off date i.e. 16th August, 2023 may obtain the login ID
d) Members can also use the OTP (One Time and password by sending a request at evoting@nsdl.co.in
Password) based login for casting the votes on or Issuer/RTA. However, if you are already registered with
the e-Voting system of NSDL. NSDL for remote e-voting, then you can use your existing
user ID and password for casting your vote. If you forgot
7. After entering your password, tick on Agree to “Terms
your password, you can reset your password by using
and Conditions” by selecting on the check box.
“Forgot User Details/Password” or “Physical User Reset
8. Now, you will have to click on “Login” button. Password” option available on www.evoting.nsdl.com or
call on toll free no. 1800 1020 990 and 1800 22 44 30 . In
9. After you click on the “Login” button, Home page of case of Individual Shareholders holding securities in demat
e-Voting will open. mode who acquires shares of the Company and becomes
a Member of the Company after sending of the Notice and
Step 2: Cast your vote electronically and join General
holding shares as of the cut-off date i.e 16th August, 2023
Meeting on NSDL e-Voting system.
may follow steps mentioned in the Notice of the AGM under
How to cast your vote electronically and join General Meeting Step 1:“Access to NSDL e-Voting system”(Above).
on NSDL e-Voting system?
3. It is strongly recommended not to share your password
1. After successful login at Step 1, you will be able to see all with any other person and take utmost care to keep your
the companies “EVEN” in which you are holding shares and password confidential. Login to the e-voting website will
whose voting cycle and General Meeting is in active status. be disabled upon five unsuccessful attempts to key in the
correct password. In such an event, you will need to go
2. Select “EVEN” of company for which you wish to cast your through the “Forgot User Details/Password?” or “Physical
vote during the remote e-Voting period and casting your User Reset Password?” option available on www.evoting.
vote during the General Meeting. For joining virtual meeting, nsdl.com to reset the password.
you need to click on “VC/OAVM” link placed under “Join
General Meeting”. 4. In case of any queries, you may refer the Frequently Asked
Questions (FAQs) for Shareholders and e-voting user
3. Now you are ready for e-Voting as the Voting page opens. manual for Shareholders available at the download section
of www.evoting.nsdl.com or call on.: 022 - 4886 7000 and
4. Cast your vote by selecting appropriate options i.e. assent 022 - 2499 7000 or send a request to Mr. Amit Vishal, AVP,
or dissent, verify/modify the number of shares for which NSDL and /or Ms. Pallavi Mhatre, Senior Manager, NSDL at
you wish to cast your vote and click on “Submit” and also evoting@nsdl.co.in
“Confirm” when prompted.
Process for those shareholders whose email ids are not
5. Upon confirmation, the message “Vote cast successfully” registered with the depositories for procuring user id
will be displayed. and password and registration of e mail ids for e-voting
for the resolutions set out in this notice:
6. You can also take the printout of the votes cast by you by
clicking on the print option on the confirmation page. 1. In case shares are held in physical mode please provide
Folio No., Name of shareholder, scanned copy of the share
7. Once you confirm your vote on the resolution, you will not
certificate (front and back), PAN (self-attested scanned
be allowed to modify your vote.
copy of PAN card), AADHAR (self-attested scanned copy
General Guidelines for shareholders of Aadhar Card) by email to (Company email id).
1. Institutional shareholders (i.e. other than individuals, HUF, 2. In case shares are held in demat mode, please provide
NRI etc.) are required to send scanned copy (PDF/JPG DPID-CLID (16 digit DPID + CLID or 16 digit beneficiary
Format) of the relevant Board Resolution/ Authority letter ID), Name, client master or copy of Consolidated Account
etc. with attested specimen signature of the duly authorized statement, PAN (self-attested scanned copy of PAN card),
signatory(ies) who are authorized to vote, to the Scrutinizer AADHAR (self-attested scanned copy of Aadhar Card) to
by e-mail to pcs.saurabhbasu@gmail.com with a copy (Company email id). If you are an Individual shareholder
marked to evoting@nsdl.co.in. Institutional shareholders holding securities in demat mode, you are requested to refer
515-533
Notice 527
to the login method explained at step 1 (A) i.e. Login method After successful login, you can see link of “VC/OAVM link”
for e-Voting and joining virtual meeting for Individual placed under “Join Meeting” menu against company name.
shareholders holding securities in demat mode. You are requested to click on VC/OAVM link placed under
Join General Meeting menu. The link for VC/OAVM will be
3. Alternatively shareholder/members may send a request to available in Shareholder/Member login where the EVEN of
evoting@nsdl.co.in for procuring user id and password for Company will be displayed. Please note that the members
e-voting by providing above mentioned documents. who do not have the User ID and Password for e-Voting
or have forgotten the User ID and Password may retrieve
4. In terms of SEBI circular dated December 9, 2020 on
the same by following the remote e-Voting instructions
e-Voting facility provided by Listed Companies, Individual
mentioned in the notice to avoid last minute rush.
shareholders holding securities in demat mode are allowed
to vote through their demat account maintained with 2. Members are encouraged to join the Meeting through
Depositories and Depository Participants. Shareholders Laptops for better experience.
are required to update their mobile number and email ID
correctly in their demat account in order to access E-Voting 3. Further Members will be required to allow Camera and use
facility. Internet with a good speed to avoid any disturbance during
the meeting.
THE INSTRUCTIONS FOR MEMBERS FOR 4. Please note that Participants Connecting from Mobile
E-VOTING ON THE DAY OF THE AGM ARE AS Devices or Tablets or through Laptop connecting via
UNDER:- Mobile Hotspot may experience Audio/Video loss due
to Fluctuation in their respective network. It is therefore
1. The procedure for e-Voting on the day of the AGM is same
recommended to use Stable Wi-Fi or LAN Connection to
as the instructions mentioned above for remote e-voting.
mitigate any kind of aforesaid glitches.
2. Only those Members/ shareholders, who will be present in
5. Shareholders who would like to express their views/ask
the AGM through VC/OAVM facility and have not casted
questions during the meeting may register themselves as
their vote on the Resolutions through remote e-Voting and
a speaker as well as may send their queries in advance
are otherwise not barred from doing so, shall be eligible to
by mentioning their name, demat account number/folio
vote on such resolutions through e-Voting system during
number, email id, mobile number at complianceofficer.cil@
the AGM.
coalindia.in latest by 17.00 Hrs (IST) on 14th August, 2023
3. Members who have voted through Remote e-Voting will
6. Those shareholders who have registered themselves as
be eligible to attend the AGM. However, they will not be
a speaker will only be allowed to express their views/ask
eligible to vote at the AGM.
questions during the meeting.
4. The details of the person who may be contacted for any
7. When a pre-registered speaker is invited to speak at the
grievances connected with the facility for e-Voting on the
meeting but he / she does not respond, the next speaker
day of the AGM shall be the same person mentioned for
will be invited to speak. Accordingly, all speakers are
Remote e-voting.
requested to get connected to a device with video/ camera
along with good internet speed.
INSTRUCTIONS FOR MEMBERS FOR ATTENDING
THE AGM THROUGH 8. The Company reserves the right to restrict the number of
questions and number of speakers, as appropriate, for
VC/OAVM ARE AS UNDER: smooth conduct of the AGM.
1. Member will be provided with a facility to attend the 9. Members who need assistance before or during the AGM,
AGM through VC/OAVM through the NSDL e-Voting can contact Ms. Pallavi Mhatre, Senior Manager, NSDL at
system. Members may access by following the steps evoting@nsdl.co.in or call on.: 022 - 4886 7000 and 022 -
mentioned above for Access to NSDL e-Voting system. 2499 7000.
Process for registration of email id for obtaining Annual Report and user id/password for e-voting and updation
of bank:-
Physical Holding Send a request to the Registrar and Transfer Agents of the Company, M/s Alankit Assignments Limited
at complianceofficer.cil@coalindia.in/ rta@alankit.com/lalitap@alankit.com providing Folio No., Name
of shareholder, scanned copy of the share certificate (front and back), PAN (self-attested scanned copy
of PAN card), AADHAR (self-attested scanned copy of Aadhar Card) for registering email address.
Following additional details need to be provided in case of updating Bank Account Details:
a) Name and Branch of the Bank in which you wish to receive the dividend,
b) the Bank Account type,
c) Bank Account Number allotted by their banks after implementation of Core Banking Solutions
d) 9 digit MICR Code Number, and
e) 11 digit IFSC Code
f) a scanned copy of the cancelled Cheque bearing the name of the first shareholder.
Demat Holding Please contact your Depository Participant (DP) and register your email address and bank account
details in your demat account, as per the process advised by your DP.
Alternatively member may send an e-mail request to evoting@ e) The results of voting along with details of the number of
nsdl.co.in for obtaining User ID and Password by proving the votes cast for and against the Resolution, invalid votes will
details mentioned in Point (1) or (2) as the case may be. be declared within two working days from the conclusion
of the AGM. The results declared along with Scrutinizer’s
General Instruction:- Report shall be placed on the company’s website www.
coalindia.in and on the website of NSDL - www.evoting.
a) In case of any query, members are requested to contact:
nsdl.com. Further, the results shall be displayed on the
Name: Ms. Pallavi Mhatre, Notice Board of the Company at its Registered Office. It
shall also be communicated to BSE & NSE.
Designation: - Senior Manager, NSDL,
E-mail id evoting@nsdl.co.in
Address: Trade World, “A” Wing, 4th Floor, Kamala Mills
Compound, Lower Parel, Mumbai 400 013
Contact details: 022 – 24994545 or toll free no.

1800222990.
b) CS Saurabh Basu of M/s S Basu & Associates, Practicing

Company Secretary, Kolkata email-id- pcs.saurabhbasu@
gmail.com has been appointed as Scrutinizer to scrutinize By order of the Board of Directors
the remote e-voting process and e-voting at the AGM in a For Coal India Limited
fair and transparent manner.
Sd/-
c) The voting rights of shareholders shall be in proportion (B.P DUBEY)
to their shares of the paid up equity share capital of the Company Secretary & Compliance Officer
Company as on 16th August, 2023
Date: 18th July, 2023
d) The scrutinizer shall, immediately after the conclusion of
the voting through electronic voting at General Meeting, Registered Office:
unblock and count the votes cast during the meeting Coal Bhawan, Premises No-04 MAR,
vide electronic voting, and the votes cast through remote Plot No-AF-III, Action Area-1A,
e-voting and make, not later than two working days from New town, Rajarhat, Kolkata-700156
conclusion of the meeting, a consolidated Scrutinizer's Email-complianceofficer.cil@coalindia.in
Report of the total votes cast in favor or against, to Website: www.coalindia.in
Chairman and in his absence to any Director of CIL. CIN: L23109WB1973GOI028844
515-533
Notice 529
STATEMENT PURSUANT TO SECTION 102(1) OF THE COMPANIES ACT, 2013:

The following Statement sets out all material facts relating to Functional Director be and is hereby authorised to take further
Special Business mentioned in the accompanying Notice: necessary action in the matter including filing necessary forms,
affixing digital signature and do all such acts and deeds that
Item No. 5: may be required to give effect to the above resolution.”
Board approved the appointment and remuneration of the The Company has received a notice in writing under the
Cost Auditor to conduct the audit of the cost records of CIL provisions of Section 160 of the Companies Act, 2013 as
(Standalone) for the financial year ended March 31, 2023 in its amended, from a member proposing the candidature of Shri
446th meeting held on 21st Oct’ 2022 as per the following details Nagaraju Maddirala, as a director, to be appointed as such
under the provisions of Section 152 of the Companies Act,
Name of the Cost Auditor: - M/s. R.M Bansal & Co.
2013. The Company has received from him (i) consent in
Audit Fees- writing to act as director in Form DIR 2 pursuant to Rule 8 of
Companies (Appointment & Qualification of Directors) Rules
(a) Cost Audit for 2022-23: H 4,40,000 /- 2014, (ii) intimation in Form DIR 8 in terms of Companies
(Appointment & Qualification of Directors) Rules, 2014, to
(b) Out of pocket expenses will be reimbursed at actuals
the effect that he is not disqualified under sub section (2) of
restricted to 50% of audit fees.
Section 164 of the Companies Act, 2013 and that he is not
(c) Applicable taxes shall be paid extra. debarred by SEBI or any other authority from being appointed
or continuing as a Director of a company. His appointment is
In accordance with the provisions of Section 148(3) of the Act recommended by Nomination and Remuneration Committee
read with Rule 14 of Companies (Audit and Auditors) Rules, through Circular Resolution no. 3 of 2022-23 U/S 175 of the
2014, remuneration as approved by the Board payable to Companies Act’ 2023 dated 1st March ‘2023. The approval of
M/s. R.M Bansal & Co., Cost Auditor has to be ratified by the members is further sought for the appointment of Shri Nagaraju
shareholders of the Company. Accordingly, ratification of the Maddirala, IAS [DIN: 06852727],as a Part-time Director (Govt.
shareholders is sought by passing an Ordinary Resolution as Nominee) of the Company w.e.f. 22nd February ‘2023 or till date
set out at Item No.5 of the Notice, of remuneration payable to of his superannuation or until further orders in terms of Ministry
M/s. R.M Bansal & Co., Cost Auditor for the financial year ended of Coal letter no 21/3/2011-ASO/BA/Estt dated 22nd Feb’2023.
March 31, 2023. He is liable to retire by rotation.
No director, key managerial personnel or their relatives, is Shri Nagaraju Maddirala has assumed the charge of part-
interested or concerned financially or otherwise in the resolution. time Director (Govt. Nominee) on the Board of Coal India
The Board recommends the resolution set forth in Item no 5 for Limited (CIL) w.e.f. 22nd February’ 2023. He is an IAS officer
the approval of the members. belonging to 1993 batch. He did post-graduation from the
University of Hyderabad. Over the course of the service, he
Item No. 6: served at state, national and international level in the areas
of public order, revenue & development administration, tribal
The Board of Directors had appointed Shri Nagaraju Maddirala
development, finance, international economic relations,
[DIN: 06852727], official Part-time Director (Govt. Nominee) and
Industries and commerce, healthcare and State finances. In the
passed the following resolutions:
State Government, he served as District Magistrate, Director,
"RESOLVED THAT pursuant to Article 39(c) of Articles of Tribal Welfare, Secretary /Principal Secretary of Health, Women
Association of the company, Section 161 ( 1) of the Companies and Child Development, Finance and Industries & Commerce
Act, 2013 and in terms of letter no. 21/3/2011-ASO/BA/Estt departments. During 2004-08, he served in the Ministry of
dated 22nd Feb’2023 from Ministry of Coal, Board hereby Finance, Department of Economic Affairs as Director in Japan/
'takes on record' appointment of Shri Nagaraju Maddirala, North America and in the World Bank Divisions. Thereafter, he
IAS, Additional secretary, MoC [DIN: 06852727] as Additional worked as Advisor to the Executive Director at the World Bank
Director (Govt. Nominee) on the Board of Coal India Limited in Washington DC from 2008 to 2012. He was a visiting fellow
w.e.f. 22nd February ‘2023 and until further orders. He will hold at the University of Pennsylvania, USA for one year in 2012-13
office upto the date of next AGM or the last date on which AGM and Visiting Research Scholar in Stonehill College in 2018-19.
should have been held whichever is earlier. He joined as Joint Secretary, Ministry of Coal on 30.01.2020 and
after promotion as Additional Secretary, Ministry of Coal from
“FURTHER RESOLVED THAT Company Secretary / any 03.11.2020. He does not hold any shares of Coal India Limited.
No Director, Key managerial personnel or their relatives, except Limited w.e.f. 1st March’2023. He was born on 19th July’
Shri Nagaraju Maddirala to whom the resolution relates, is 1966 and completed his Bachelor’s degree in Arts from
interested or concerned financially or otherwise in the resolution. Hindu College, Delhi. He has also completed Professional
The Board recommends the resolution set forth in Item no 6 for Army courses in High Altitude Mountain Warfare, Radio
the approval of the members. Instructor and Part ‘B’ and had also trained in manpower
management and administration during his tenure at the
Item No. 7: Army. He served as a Squadron Leader in the 42 Armored
Regiment during his career and had provided leadership
The Board of Directors had appointed Shri Ghanshyam Singh
to independent teams in Technical operations. He had
Rathore, [DIN: 09615384] as non-official Independent Director
also rendered his advice to Superior Officers on military
on the Board of Coal lndia Limited for a period of three years
matters, administration and management of subordinate
with effect from 1st March 2023 and passed the following
staff. His areas of specialization and expertise includes
resolutions:
Management, Administration and Technical Operations.
“RESOLVED THAT pursuant to Article- 39(c) of Articles of
b). Nature of expertise in specific functional areas;
Association of the company, Section -149 and 161 (1) of the
Companies Act, 2013 and in terms of letter No. 21/19/2021- He has specialized administration and management of
BA/Estt - (i) dated 1st March'2023 from Ministry of Coal, Board subordinate staff. His areas of specialization and expertise
hereby 'takes on record' appointment of Shri Ghanshyam Singh includes Management, Administration and Technical
Rathore (DIN 09615384) as Additional Director on the Board of Operations
Coal lndia Limited w.e.f. 1st March' 2023 and until further orders.
He will hold office upto the date of next AGM or the last date on c). Disclosure of relationships between directors
which AGM should have been held whichever is earlier."
He is not related to any other Director of CIL
"FURTHER RESOLVED THAT Company Secretary / any
Functional Director be and is hereby authorised to take further d). Names of listed entities in which he also holds the
necessary action in the matter including filing necessary forms, directorship and the membership of Committees
affixing digital signature and do all such acts and deeds that of the board along with listed entities from which
may be required to give effect to the above resolution." the person has resigned in the past three years
The Company has received a notice in writing under the Sr. Category of the
Name of the Company
provisions of Section 160 of the Companies Act, 2013 as No Directorship
amended from a member proposing the candidature of Shri 1 NIL NA
Ghanshyam Singh Rathore as a director, to be appointed as
He has not resigned in any Listed Company in past three
such under the provisions of Section 149 of the Companies
years.
Act, 2013. The Company has received from him (i) consent in
writing to act as director in Form DIR-2 pursuant to Rule 8 of Memberships / Chairmanships in Committees:
Companies (Appointment & Qualification of Directors) Rules
2014, (ii) intimation in Form DIR-8 in terms of Companies Sr. Name of the
Name of the Company
(Appointment & Qualification of Directors) Rules, 2014, to No Committee
the effect that he is not disqualified under sub section (2) of 1 Coal India Limited NIL
Section 164 of the Companies Act, 2013. He has also given the
Declaration of Independence. His appointment is recommended e). shareholding of Non-executive directors in
by Nomination and Remuneration Committee through Circular the listed entity, including shareholders as a
Resolution no. 4 of 2022-23 dated 3rd March 2023 U/S 175 of beneficial owner
the Companies Act 2023. The resolution seeks the approval
Shri Ghanshyam Singh Rathore does not hold any share of
of members for the appointment of Shri Ghanshyam Singh
Coal India Ltd.
Rathore as an Independent Director of the Company from 1st
March, 2023 and until further orders in terms of Ministry of Coal f). In case of independent directors, the skills and
letter no 21/19/2021-BA/Estt-(i) dated 1st March’ 2023. He is not capabilities required for the role and the manner
liable to retire by rotation. in which the proposed person meets such
requirements.
a). Brief Resume:
As recommended by the Nomination and Remuneration
Shri Ghanshyam Singh Rathore has been appointed
Committee and approved by the Board, the following are the
as an Independent Director on the Board of Coal India
515-533
Notice 531
skills/expertise/competence required for the role and Shri from him(i) consent in writing to act as director in Form DIR 2
Ghanshyam Singh Rathore meets the said requirements pursuant to Rule 8 of Companies (Appointment & Qualification
of Directors) Rules 2014, (ii) intimation in Form DIR 8 in terms
Sl. of Companies (Appointment & Qualification of Directors) Rules,
Area of skills/expertise/competence
No. 2014, to the effect that he is not disqualified under sub section
1 Executive Leadership (2) of Section 164 of the Companies Act, 2013 and that he is not
2 Governance Experience debarred by SEBI or any other authority from being appointed
3 Financial Acumen or continuing as a Director of a company. The resolution
4 Strategy/Risk Management seeks the approval of members for the appointment of Shri P
5 Occupational Health, Safety & Environment M Prasad as a Whole time Director to function as Chairman-
No Director, Key managerial personnel or their relatives, cum-Managing Director of the Company till 31st October 2025
except Shri Ghanshyam Singh Rathore to whom the or until further orders in terms of Ministry of Coal letter no.
resolution relates, is interested or concerned financially 21/26/2022-ESTABLISHMENT dated 28th June’2023. He is not
or otherwise in the resolution. No remuneration other liable to retire by rotation.
than sitting fees is being paid to him for attending Board
Shri PM Prasad, has assumed the charge of Chairman- cum
/ Committee Meetings. The Board of Directors considered
Managing Director of Coal India Limited on 1st July 2023. Prior to
that in view of the background and experience of Shri
this he was holding charge of Chairman-cum-Managing Director
Ghanshyam Singh Rathore, it would be in the interest of
(CMD) of Central Coalfields Limited (CCL) from 01/09/2020.
the company to appoint him as an Independent Director of
Shri Prasad has put up 38 years of experience in the varied
the Company from 1st March, 2023 till 28th February’ 2026
facets of operations and management. Shri Prasad is a mining
or until further orders from MoC. The Board recommends
engineer from Osmania University. He did M. Tech in ‘Open-
the special resolution set forth in Item no. 7 for the approval
Cast Mining’ from Indian School of Mines (IIT- ISM), Dhanbad.
of the members.
In 1988 he acquired first class mines manager certificate from
ITEM No.8: DGMS. He also obtained degree in law from Nagpur university
in 1997. Shri Prasad began his career as an executive trainee
The Board of Directors had ratified the appointment of Shri with Western Coalfields Limited (WCL), a subsidiary of Coal
P M Prasad [DIN: 08073913] as an Additional Director to India Limited (CIL) in1984. He exhibited dedication, hard work,
function as Chairman-cum Managing Director based on the sincerity and dynamic leadership as he progressed through
recommendation of NRC and passed the following resolutions: different roles in the company and became General Manager
of Lingaraj area in Mahanadi Coalfields Limited (MCL). In 1994-
“RESOLVED THAT pursuant to Article 39(c) of Articles of 95, he was instrumental in reopening of DRC mines which was
Association of the company, Section-161(1) of Companies affected by the underground fire during his posting in WCL. For
Act, 2013 and in terms of Ministry of Coal letter no. this remarkable job, he was awarded as ‘Best Mines Manager’
21/26/2022-ESTABLISHMENT dated 28th June’2023 and from Secretary Coal, Ministry of Coal (MoC) and Chairman, Coal
subsequent Order No -CIL/C5A(IV)/2023/CMD-CIL/PMP/B-543 India Limited in 1995. During his successful stint as General
dated 28th June’ 2023 from CIL. Board hereby ‘takes on manager at MCL, he was responsible for successful opening
record’ appointment of Shri P M Prasad [DIN: 08073913] as an and operations of ‘Kaniha Open cast Project’ from March, 2010.
Additional Director on the Board of Coal India Limited from 1st He is also credited for diversion of nallah at Hingula Opencast
July’ 2023 and until further orders. He will hold office upto the Area to unlock coal reserve of 26.00 MT in the year 2014-15
date of next AGM or the last date on which AGM should have and commencement of New Railway Siding No. 9 at Talcher
been held whichever is earlier. Coalfields. He has a special penchant for safety and the
projects with which he was associated have won various prizes
“FURTHER RESOLVED THAT Company Secretary or any
at different competitions including hat-trick for two projects
Functional Director of CIL be and is hereby authorised to take
i.e. Padmapur Opencast, WCL between 1996 and 1998 and
further necessary action in the matter including filing necessary
Nandira UG Mine, MCL between 2004 and 2006. In May,2015
forms, affixing digital signature and do all such acts and deeds
he joined NTPC as Executive Director (Coal mining). He was
that may be required to give effect to the above resolutions.”
acknowledged for expediting the process of award of MDO
The Company has received a notice in writing under the projects and awarded Pakribarwadih coal block (NTPC’s first
provisions of Section 160 of the Companies Act, 2013 as project) and floated NITs for remaining coal blocks. In March
amended by Companies (Amendment) Act 2017, from a member 2016, he took charge as Executive Director cum Head of the
proposing the candidature of Shri P M Prasad as a Director, Project, Hazaribagh, Jharkhand. During his tenure, he led the
to be appointed as such under the provisions of Section 149, commencement of coal mining operations at Pakribarwadih
152 of the Companies Act, 2013. The Company has received mines, Hazaribagh. During his term in 2016 Pakribarwadih
was bestowed with the first prize in ‘Swarn Shakti Awards’. As recommended by Nomination and Remuneration
In February, 2018 he joined Northern Coalfields Limited (NCL) Committee, the Board of Directors considered that in view of
as Director Technical (P&P). Under his leadership, NCL was the background and experience of Shri P M Prasad, it would
awarded at the World Environmental Conference in June 2018 be in the interest of the company to appoint him as a Whole
for outstanding work in environment conservation. He took time Director of the Company to function as Chairman-cum-
over the charge of CMD, Bharat Coking Coal Limited (BCCL) in Managing Director till 31st October 2025 or until further orders.
August 2019. Amid the challenging conditions, he led from the The Board recommends the resolution set forth in Item no. 8 for
front with commitment, vigor, and dedication. He spearheaded the approval of the members.
the company’s fight against the COVID-19 pandemic and
was instrumental in various initiatives to transform the overall By order of the Board of Directors
performance of the company. Shri Prasad is renowned for For Coal India Limited
his interpersonal skills and is a firm believer in teamwork and
Sd/-
possesses excellent technical expertise. Under his guidance
(B.P DUBEY)
the company is poised to attain new milestones and scale
Company Secretary & Compliance Officer
further heights of success.
Date: 18th July, 2023
No existing Director of Coal India Limited is related to Shri P
M Prasad. He has also furnished a declaration that he is not Registered Office:
debarred from holding the office of Director pursuant to SEBI Coal Bhawan, Premises No-04 MAR,
order or order of any other statutory authority. Plot No-AF-III, Action Area-1A,
New town, Rajarhat, Kolkata-700156
Shri P M Prasad does not hold any directorship and member of
Email-complianceofficer.cil@coalindia.in
Committees on the board of any other listed Company. He and
Website: www.coalindia.in
his immediate relatives do not hold any shares of CIL
CIN: L23109WB1973GOI028844
No Director, Key managerial personnel or their relatives, except
Shri P M Prasad to whom the resolution relates, is interested or
concerned financially or otherwise in the resolution.
515-533
Notice 533
Major Abbreviations
1. ECL - Eastern Coalfields Ltd
2. BCCL - Bharat Coking Coal Ltd
3. CCL - Central Coalfields Ltd
4. NCL - Northern Coalfields Ltd
5. WCL - Western Coalfields Ltd
6. SECL - South Eastern Coalfields Ltd
7. MCL - Mahanadi Coalfields Ltd
8. CIAL - Coal India Africana Limitada
9. HURL - Hindustan Urvarak & Rasayan Ltd
10. TFL - Talcher Fertilizers Limited
11. ICVL - International Coal Ventures Pvt. Limited
12. CERL - Chhattisgarh East Rail Ltd
13. CEWRL - Chhattisgarh East West Rail Ltd
14. MBPL - Mahanadi Basin Power Limited
15. MCRL - Mahanadi Coal Railway Limited
16. CBM - Coal Bed Methane
17. CIMFR - Central Institute of Mining and Fuel Research
18. CMPFO - Coal Mines Provident Fund Organisation
19. CPP - Captive Power Plant
20. CPRMSE - Contributory Post-Retirement Medicare Scheme for Executives
21. CSIR - Council of Scientific and Industrial Research
22. CWS - Coal Water Slurry
23. EAC - Expert Advisory Committee
24. EC - Environment Clearance
25. EIA - Environmental Impact Assessment
26. ERP - Enterprise Resource Planning
27. FC - Forest Clearance
28. FMC - First Mile Connectivity
29. GCV - Gross Calorific Value
30. HEMM - Heavy Earth Moving Machines
31. ICFRE - Indian Council of Forestry Research
32. IICM - Indian Institute of Coal Management
33. JBCCI - Joint Bipartite Committee for Coal Industry
34. MCP - Mine Closure Plans
35. MMDR Act - Mines and Minerals (Development and Regulation) Act, 1957 and 2015
36. MoEF&CC - Ministry of Environment, Forest and Climate Change
37. NCWA - National Coal Wage Agreement
38. NEERI - National Environment Engineering Research Institute
39. NGRBC - National Guidelines on Responsible Business Conduct
40. OB - Overburden
41. OC - Opencast
42. OHS - Occupational Health and Safety
43. OHSAS - Occupational Health and Safety Assessment Series
44. PPA - Power Purchase Agreement
45. R&R - Rehabilitation and Resettlement
46. RLS - Rapid Loading System
47. SHAKTI - Scheme for Harnessing and Allocating Koyala (Coal) Transparently in India
48. SPCB - State Pollution Control Board
49. UG - Underground
50. UGMM - Underground Mine Map
Notes
Notes
Notes
Coal Bhawan, Premise No-04 MAR,
Plot No-AF-III,Action Area-1A,
Newtown, Rajarhat, Kolkata - 700156
www.coalindia.in
CIN: L23109WB1973GOI028844

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I n t e g r a t e d A n n u a l Re p o r t 2 0 2 2 -2 3

Driving Energy Security

Starting our journey with a modest

Approximately 70.6% of India’s total

While there is an evident shift towards renewable

We are also diversifying and expanding to

100 Board of Directors 514 Green Initiatives

101 Members of the Board & Senior

To view this report

103 Operational Statistics 515 Notice

Corporate Overview Statutory Reports Financial Statements 1

About the Report

This report presents Coal India’s Reporting framework Reporting period

The Companies Act, 2013

The Securities and Exchange

About Coal India

Corporate Overview Statutory Reports Financial Statements 3

To emerge as a global player in the primary energy

coal products efficiently and

703.20 MT 694.69 MT 2,39,210

57,224.76 crore 38,000.81 crore 1,613 ha

Corporate Overview Statutory Reports Financial Statements 5

Our organisational structure

33.33% 33.33% 0.19%

Mapping Our Presence

Coal India Africana

Corporate Overview Statutory Reports Financial Statements 7

Head count FY 22-23 Coal Number of operative

Bharat Coking Coal Limited

Central Coalfields Limited

Eastern Coalfields Limited

Mahanadi Coalfields Limited

Northern Coalfields Limited

South Eastern Coalfields Limited

Western Coalfields Limited

Coking Semi-coking Non-coking

Corporate Overview Statutory Reports Financial Statements 9

Washed and Middlings Rejects

Social and Relationship Capital

Human Capital Sustainable

Corporate Overview Statutory Reports Financial Statements 11

Outputs SDGs impacted

Social and Relationship Capital

Hygiene Factors: Company 6 Top Priorities: An effective and

Monitoring Issues: Best practice Hidden Value Creators: Company should

impactful over time the relevance to Company’s business

Low Importance to external stakeholders High

Corporate Overview Statutory Reports Financial Statements 13

Top Priorities: Hidden Value Creators:

14 Labour conditions/human rights assessment Hygiene Factors:

4 Waste management 5 Ghg emissions/climate change

11 Employee inclusion and diversity 10

Fostering shared Stakeholder engagement

We understand that creating shared

Using the principles of inclusiveness, Defining our Impact Stakeholder

Through regular and meaningful

Corporate Overview Statutory Reports Financial Statements 15

Importance of relationship Needs and expectations

Source of revenue Grievance redressal

Forest land clearance