MCL Today The Number One Coal Producing Company in India

dmmclBhubaneswar: MCL has produced 137.90 MT coal in the Fiscal (2015-16) by the end of Mar’2016 over 121.38 MT produced last year registering a growth of 13.61%, removed 98.41 M CuM of OB compared to 89.22 M CuM last year recording a growth of 10.30% and dispatched 140.22 MT of coal to the consumers compared to 123 MT indicating a growth of 14%. This was stated by Sri Anil Kumar Jha, CMD, Mahanadi Coalfields Limited(MCL) in a press interaction in Bhubaneswar on 05.04.2016.

Financial Performance

2014-15(IN Rs. Crore) 2015-16(IN Rs. Crore)
Gross Turnover 15693.71 19053.15
Net Turnover 11024.42 12702.10
Profit Before Tax(PBT) 5314.24 4722.87(Dec’2015)
Profit After Tax(PAT) 3554.10 3186.20(Dec’2015)

Payment to Exchequer

2014-15(IN Rs. Crore) 2015-16(IN Rs. Crore) (provisional)
State Govt. 2003.82 2585.54
Central Govt. 4525.69 7388.95
TOTAL 6529.51 9974.49

Major CSR Activities undertaken by MCL for 2015-16 up to Feb’2016

Sl. No Purpose Expenditure(IN Rs. Crore)
1 Water Supply 18.42
2 Education 49.79
3 Road 12.87
4 Health 13.45
5 Sports 6.11
6 Rural development 5.15
7 Swachh Vidyalaya Abhiyan 176.41
8 Miscellaneous 8.45
TOTAL 290.65

MCL’s Stake in Rail Infrastructure in Odisha

With an objective of developing railway infrastructure in Odisha, MCL has partnered with IRCON International Ltd. & IDCO to jointly form a Special Purpose Vehicle (SPV) namely Mahanadi Coal Railway Limited. The company has been incorporated on 31st August 2015 with an equity ratio of 64:26:10 among the JV partners i.e. MCL, IRCON & ICO. One of the foremost activity before the company is to develop the Angul-Balram rail link covering around 14km length in the initial phase with a capacity to transport 92 million tonne of Coal. IN due course this rail link will complete the loop Angul-Balaram-Talcher Angul to facilitate unidirectional movement of wagons. The outcome will be increasing coal production thorugh increased evacuation in Talcher Coalfields.
This SPV will only cater to the current evacuation constraints, which impede the growth of MCL and accordingly will implement the evacuation plans.
It is noteworthy that MCL has produced 137.90 Mt of coal in 15-16 fiscal and is planning to leapfrog to 250 mt by 2019-20. Improved coal evacuation in future through this SPV will help closing the gap between demand and supply of coal, which the country has been grappling with for a long time.
In the second phase, this company is expected to take up the Jharsuguda-Barpali-Sardege Rail Link, which will enable Basundhara Coalfield to produce 85 Mt as compared to its current production of 10 Mt. Both the rail projects are very critical for MCL for achieving its higher growth potential.

Author Description

OdishaInc Bureau