State-owned power major NTPC Ltd has announced board approval for a partial modification in the transfer of its coal mining business to its wholly owned subsidiary, NTPC Mining Ltd (NML). The revised transfer will take place under an Amended Business Transfer Agreement (BTA) to be signed on or before 30 September 2025, with completion targeted within a year, pending statutory approvals.

As per NTPC’s financials for the fiscal year ended 31 March 2025, the coal mining vertical generated revenue of Rs 77.36 billion, contributing 4.05 per cent to NTPC’s consolidated revenue of Rs 1.91 trillion. The division had a net worth of Rs 31.51 billion, representing 1.72 per cent of the group’s consolidated net worth of Rs 1.83 trillion.

The total consideration for the transaction has been fixed at Rs 105.03 billion as of 31 March 2025. NTPC Mining Ltd will make payments to NTPC in phases, aligned with the progressive transfer of each coal mine or block. The transaction, classified as a related-party deal, will be executed at book value based on audited accounts, and has received clearances from both the Audit Committee and the Board.