Coal India to reduce manpower by 5% annually for the next 5-10 years

18 Jun 2021 CW Team

Coal India Limited, the world's largest mining company, announced on Tuesday that it will cut 5% of its workforce every year for the next 5-10 years to save money.

Since FY20, the mining company has employed 2,72,445 people, according to CIL's earnings call a day after reporting its March quarter results.

The company also stated that it would close unviable mines. There are 158 underground mines in operation, employing 43% of the workforce and contributing 5% of total production. In CIL, steps are being taken to phase out the unprofitable mines. The production of 11 of these Underground Mines has already been halted, according to CIL.

The company also stated that to efficiently operationalise greenfield projects, CIL devised a transformative plan to engage MDO for 15 projects (10 OC and 5 UG) with a combined total targeted capacity of about 160 MTY.

Work orders for two 45 MTY projects have been issued out of the 15 projects. The remainder of the projects are in various stages of tendering and NIT approval.

Coal India's stock is currently trading 1.10% lower on the BSE at 157.60 per share.

CIL reported a consolidated net profit of 4,588.96 crore for the quarter ended March 31, 2021, a drop of 0.8%. In the previous fiscal year, the company made a profit of Rs 4,655.76 crore.

CIL announced in a regulatory filing that its board of directors has approved a final dividend of Rs 3.50 per equity share with a face value of Rs 10 for the fiscal year 2020-21.

The company's consolidated sales fell to Rs 24,510.80 crore in the January-March period, down from Rs 25,597.43 crore in the March quarter of 2019-20, according to the filing.

However, the company's expenses fell to Rs 21,565.15 crore in the January-March 2021 quarter, down from Rs 22,373.046 crore the previous quarter.

CIL production fell to 203.42 million tonnes (mt) in the quarter, down from 213.71 mt in the same quarter of 2020.

During the January-March period, the company's offtake was 164.89 mt, up from 164.33 in the same quarter of 2020.

Over 80% of domestic coal production is produced by CIL. By 2023-24, the company plans to produce one billion tonne.

Image Source

Also read: 114 projects of Coal India in various stages of implementation

Also read: CIL records coal off-take to 55 mt in May

Coal India Limited, the world's largest mining company, announced on Tuesday that it will cut 5% of its workforce every year for the next 5-10 years to save money. Since FY20, the mining company has employed 2,72,445 people, according to CIL's earnings call a day after reporting its March quarter results. The company also stated that it would close unviable mines. There are 158 underground mines in operation, employing 43% of the workforce and contributing 5% of total production. In CIL, steps are being taken to phase out the unprofitable mines. The production of 11 of these Underground Mines has already been halted, according to CIL. The company also stated that to efficiently operationalise greenfield projects, CIL devised a transformative plan to engage MDO for 15 projects (10 OC and 5 UG) with a combined total targeted capacity of about 160 MTY. Work orders for two 45 MTY projects have been issued out of the 15 projects. The remainder of the projects are in various stages of tendering and NIT approval. Coal India's stock is currently trading 1.10% lower on the BSE at 157.60 per share. CIL reported a consolidated net profit of 4,588.96 crore for the quarter ended March 31, 2021, a drop of 0.8%. In the previous fiscal year, the company made a profit of Rs 4,655.76 crore. CIL announced in a regulatory filing that its board of directors has approved a final dividend of Rs 3.50 per equity share with a face value of Rs 10 for the fiscal year 2020-21. The company's consolidated sales fell to Rs 24,510.80 crore in the January-March period, down from Rs 25,597.43 crore in the March quarter of 2019-20, according to the filing. However, the company's expenses fell to Rs 21,565.15 crore in the January-March 2021 quarter, down from Rs 22,373.046 crore the previous quarter. CIL production fell to 203.42 million tonnes (mt) in the quarter, down from 213.71 mt in the same quarter of 2020. During the January-March period, the company's offtake was 164.89 mt, up from 164.33 in the same quarter of 2020. Over 80% of domestic coal production is produced by CIL. By 2023-24, the company plans to produce one billion tonne. Image Source Also read: 114 projects of Coal India in various stages of implementation Also read: CIL records coal off-take to 55 mt in May

Infrastructure Transport

18 Dec 2025

RVNL secures Rs 1.65 billion railway bridge project from North Eastern Railway

Rail Vikas Nigam (RVNL) has received a Letter of Award (LoA) from North Eastern Railway for a Rs 1.65 billion railway infrastructure project, strengthening its order book and showcasing its expertise in complex railway construction.The project involves constructing the substructure of a major railway bridge over the Gandak River, located between Paniyahwa and Valmikinagar stations. This is part of the doubling of the Gorakhpur Cantt–Valmikinagar railway section, aimed at improving line capacity and operational efficiency.The bridge will feature 14 spans of 61 metres each, built on double D-t..

Infrastructure Transport

18 Dec 2025

Raebareli’s Modern Coach Factory rolls out 15,000th railway coach

The Modern Coach Factory (MCF) at Raebareli in Uttar Pradesh has achieved a major manufacturing milestone with the rollout of its 15,000th railway coach on December 15, the Ministry of Railways said.In a press note, the ministry said that MCF has already produced 1,310 coaches in the current financial year 2025–26, reflecting sustained high output at one of Indian Railways’ most advanced passenger coach manufacturing units.Established in 2007 at Lalganj in Raebareli district, MCF was built at a cost of Rs 31.92 billion with an initial annual production capacity of 1,000 coaches. The factor..

Infrastructure Transport

18 Dec 2025

RailTel wins Rs 260.88 million IT infrastructure order from VOC Port

Navratna public sector undertaking RailTel Corporation of India has secured an IT infrastructure order worth Rs 260.88 million from V.O. Chidambaranar Port Authority (VOC Port), strengthening its presence in port-led digital transformation projects.According to an exchange filing dated December 16, 2025, RailTel has received a Letter of Acceptance (LoA) from VOC Port Authority for the implementation of advanced IT infrastructure at the port. The project is domestic in nature and is scheduled to be completed by August 15, 2026.The company said the order has been awarded in the normal course of ..