India has one of the largest coal (also known as black gold) reserves in the world. The very first commercial exploitation of coal started along the western bank of Damodar River in the year 1774 by East India Company. Post Independence, Coal mines were nationalized in the year 1971-72 and 1973 under a two phase process.
With the liberalization, numerous public & private coal companies in different parts of India got engaged in the mining from allocated coalfields. Let’s discuss about top 7 profit earning Indian coal companies in detail:
7. Jay Energy and S. Energies Ltd
Jay Energy and S. Energies Ltd. (JSES) was founded in the year 1986. It has been in the business of coal mining and mineral supplying for more than a decade. Before that, the company was involved in manufacturing chemical products. In recent times, it faced many hardships in dealing with its production due to erratic power supply and harder green norms.
6. ACB (India) Ltd
In the month of March 1997, ACB was established under the name of Aryan Coal Beneficiations Private Limited. Since 1999, the Company has been busy in production of coal at Korba coalfields in Chhattisgarh. The company has expanded its ore and mineral extraction operations over 16 distinct locations in India under its diversification program.
5. Austral Coke & Projects Ltd
This company was started in 1994 by Shri Ratan Lal and Rishi Raj Aggarwal. Austral is the manufacturer of high quality steam coal and low ash metallurgical coke (coking coal). The company earns annual revenues of 50-100 crores.
4. Auroma Coke Ltd
Registered Office: Kolkata
Auroma Coke Limited (ACL) was founded by Mr. Vimal K. Tulsyan in 1977. The company has the capacity of producing 1.0 million tonne coal annually. It generates the best metallurgical coke from its coalfields. Currently, all its processing units along with a corporate office are located at Dhanbad district of Jharkhand.
3. Gujarat NRE Coke Ltd.
Registered Office: Kolkata
GNCL (Gujarat NRE Coke Ltd) is a flagship company that has been identified as the 4th best performing stock in first decade of this millennium. The company has established a plant in Gujarat to recycle steel scarps using the wind energy. Such use of renewable energy along with coal to manufacture TMT bars in their still mini steel mills is helping to reduce the carbon footprint. GNCL has also acquired 2 met coke-fields in Australia to initiate overseas operations. The company achieved 7th spot in BT’s (Business Today) 500 ranking in the parameter of 10 year revenue growth.
Gujarat Mineral Development Corporation Ltd (GMDC) is an Ahmedabad based company. It is one of the most famous companies for quality mineral and lignite mining. GMDC, founded way back in the year 1963 is owned by the government of Gujarat. Apart from being involved in mining activities of lignite, bauxite, fluorspar and manganese, GMDC has also implemented some power projects in Gujarat and undertaken mining projects in the state of Rajasthan.
1. Coal India Limited
Based in the Indian state of West Bengal, CIL (Coal India Ltd.) is the largest coal producer company in globe. It is an Indian state-controlled coal mining company which runs under the guidelines of Ministry of Coal (Union Govt. of India). CIL was established in the year 1975. The Indian Government with 61% stake in CIL controls all its mining operations. Currently, it contributes over 81% of total coal production in India. CIL supplies high quality coal to Indian Railways and various steel companies operating both in private as well as public sector. Coal India reported 34.9% rise in its quarterly profits this year.