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Coal India incurs Rs 13,115 cr capex in FY21

Thursday, 08 Apr 2021

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Coal India (CIL) incurred its highest-ever capital expenditure of Rs 13,115 crore in FY21, a 109 percent rise compared to FY20 capex of Rs 6,270 crore.

The rise in capex comes at a time when the Centre has advised Central Public Sector Enterprises (CPSEs) of the country to scale up their expenditure to boost the economy amid COVID slump.

CIL’s original sanctioned capex budget was Rs 10,000 crore for FY21. The government had later revised the target to 130 percent for the company to be evaluated as excellent under this specific parameter in MoU rating.

The entire capital expenditure was funded through internal resources. Capex growth during all the four quarters of FY21 was significantly higher compared to FY20.

Procurement of heavy earth moving machinery at Rs 3,453 crore topped the list of capex heads for FY21, followed by land at Rs 2,470 crore. Capex in joint ventures, in proportion to CIL’s shareholding, like Talcher Fertilizers and Hindustan Urvarak & Rasayan accounted for Rs 2,194 crore.

CIL’s coal evacuation initiatives which include setting up coal handling plants, silos and constructing sidings accounted for Rs 1,398 crore. Construction of rail corridors and railway lines summed up Rs 1,166 crore, while the rest was made up by different other heads.

South Eastern Coalfields (SECL), though did not surpass its revised budgeted target, was the highest capex spender among all CIL’s subsidiaries at Rs 3,260 crore.