a

i
ii
 CONTENTS

1. Management 03

2. Bankers & Auditors 04

3. Notice – AGM 06

4. CMD’s Message 12

5. Operational Statistics 18

6. Financial Position 19

7. Directors’ Report 25

8. Annexures forming part of Directors Report 78

9. Management Discussions & Analysis Report 144

10. Standalone Financial Results 154

Auditors’ Report & Management Reply (incl. Appendix 1) on

11. 261
Standalone Financial Statement

12. Consolidated Financial Results 284

Auditors’ Report & Management Reply (incl. Appendix 1) on

13. 391
Consolidated Financial Statement

14. Form AOC – 1 409

2
 MANAGEMENT DURING FY 2022-23

CHAIRMAN-CUM-MANAGING DIRECTOR
Shri P. M. Prasad : Chairman-cum-Managing Director (w.e.f. 01.09.2020)

FUNCTIONAL DIRECTORS
Shri K. R. Vasudevan : Director (Finance) (w.e.f. 01.07.2021 to 10.06.2022)

Shri S.K. Gomasta : Director (Tech. / P&P) (w.e.f. 01.11.2021 to 26.10.2022)

Shri PVKR Mallikarjuna Rao : Director (Personnel) (w.e.f. 23.07.2021 to 31.07.2022)

Shri Ram Baboo Prasad : Director (Tech./Oprn.) (w.e.f. 14.05.2022)

Shri Pawan Kumar Mishra : Director (Finance) (w.e.f. 10.06.2022)

Shri Harsh Nath Mishra : Director (Personnel) (w.e.f. 24.08.2022)

Shri B. Sairam : Director (Tech./P&P) (w.e.f. 26.10.2022)

PART TIME DIRECTORS

Ms Santosh : Dy.Director General, Ministry of Coal
Govt. of India, New-Delhi. (w.e.f. 03.01.2022 to 22.02.2023)

Shri Vinay Ranjan : Director (P&IR), Coal India Limited, Kolkata

(w.e.f. 05.08.2021)

Mr. Ajitesh Kumar : Director, Ministry of Coal

Govt. of India, New-Delhi. (w.e.f. 22.02.2023)

NON-OFFICIAL PART TIME DIRECTORS

Smt Jajula Gowri : Advocate (w.e.f. 10.07.2019 to 09.07.2022)

Shri Harbans Singh : Ex – Director General Apex,

Geological Survey of India
(w.e.f. 10.07.2019 to 09.07.2022)

Shri Ramesh Kumar Soni : Chartered Accountant (w.e.f. 01.11.2021)

COMPANY SECRETARY

Shri Ravi Prakash : (w.e.f. 13.07.2017 to 31.08.2022)

Shri Amaresh Pradhan : (w.e.f 31.08.2022)

3
 BANKERS
State Bank of India Bank of Maharashtra
ICICI BANK Canara Bank
HDFC Bank Punjab National Bank
Axis Bank UCO Bank
Indian Bank Bank of Baroda
Bank of India Union Bank of India

STATUTORY AUDITORS
M/s. SPAN & Associates
C/O.-MR AMIT KUMAR CHAND,140, OLD AG COLONY, KADRU,
Ranchi-834002, Jharkhand

BRANCH AUDITORS
M/s. V. Rohatgi & Co. M/s Lodha Patel Wadhwa & Co.
1st Floor, Sarjana Building, 304, Shrilok Complex, 4 H.B. Road, 3rd Floor,
Main Road, Ranchi, Jharkhand Ranchi – 834001, Jharkhand

M/s Sushil Sharma & Co. M/s N K D & Co.

Tirath Mansion, Room No. 222, 2nd Floor, Radha Gouri, Goushala Chowk,
Near Overbridge, Main Road, Ranchi-834001, North Market Road, Upper Bazar, Ranchi-834001,
Jharkhand Jharkhand

COST AUDITORS

M/s NIRAN & Co.,

ESEN Den, 475, Aiginia, Asiana Plaza Entry, Khandagiri,
Bhubaneshwer - 768001. Odisha

BRANCH COST AUDITORS

M/s MANI & Co. M/s DGM & Associates,
Cost Accountants 64, B.B. Ganguly Street,
“Ashoka” 111, Southern Avenue (2nd Floor), Kolkata - 700012
Kolkata - 700029

SECRETARIAL AUDITORS
M/s Satish Kumar & Associates
Office No. 603, Samriddhi Square, 6th Floor,
Kishoreganj Chowk, Ranchi - 834001 (Jharkhand)

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 INTERNAL AUDITORS
M/s Jain Saraogi & Co
508-8, Panchwati Plaza, Kutchery Road,
Ranchi-834001

AREA INTERNAL AUDITORS

M/s Nundi & Associates M/s S K Naredi & Co.

C/o Sri Phalguni Banerjee, D-1, Sudhalekha Apartment, C/o Biswajit Das, Rana Roy, Sarna Maidan, Nagartoli,
J C Mullik Road, Hirapur, Dhanbad – 826001 Behind Nucleus Mall, Ranchi-834001

M/s Jaiswal Brajesh & Co. M/s Biswas Dasgupta Datta & Roy
CA Ruby Bansal, 400C, Icon Height Dhumsa Toli, Flat No-3, Nabakanti Apartment, 59-B,
Ghasi Talab, Ranchi-834001 Circular Road, Behind Hotel Apsara, Ranchi-834001

M/s Gupta Sachdeva & Co. M/s Parik & Co.

205-B, Mahabir Tower, Main Road, Aashirbad Bhawan, Dindli Basti,
Ranchi-834001 Near Sher-E-punjab Chowk,
Adityapur, Jamshedpur - 831013

M/s C K Prusty & Associates M/s Habibullah & Co.

15 AC Market, 1st Floor, GEL Church Complex, H.No 2, Darjee Mohalla, HPO Doranda,
Main Road, Ranchi - 834001 Ranchi - 834002

M/s Abhijit Dutt & Associates M/s R G S & Associates

8 By 2, Kirna Shankar Roy Road, 2nd Floor, C/o Manish Singh, Sant Nagar, Near Jhiri Govt School,
Room No 2 And 3, Culcutta-700001 New Shiv Mandir Jhiri, Kamre, Ranchi-835222

M/s B Gupta & Co. M/s A K Kejariwal & Associates

602, Park Plaza, Tagore Hill Road, 2C, Sri Bimalanand Tower, Purulia Road,
Morabadi, Ranchi - 834008 Ranchi-834001

REGISTERED OFFICE
Darbhanga House
Ranchi 834 029
(Jharkhand)

5
Ref. No. Secy. CS/3(4)/AGM-67/2023/ Dated: 28.07.2023

NOTICE
Shorter Notice is hereby given that the 67th Annual General Meeting of the Company will be held on Wednesday the
02nd day of August, 2023 at 03.00 PM at the registered office of the Company, Darbhanga House, Ranchi-834029,
Jharkhand through Video Conferencing/Other Audio-Visual Means (OAVM) to transact the following businesses:

A. ORDINARY BUSINESS:
1. To consider and adopt:
a. The Standalone Audited Financial Statements of the Company for the financial year ended March 31, 2023
together with the report of Board of Directors, Reports of Statutory Auditor and comments of Comptroller &
Auditor General of India thereon.
b. The Consolidated Audited Financial Statements of the Company for the financial year ended March 31, 2023,
the Reports of Statutory Auditor and Comptroller & Auditor General of India thereon.
2. To appoint a Director in place of Shri Ram Baboo Prasad (DIN- 09644944), who retires by rotation in terms of Section
152(6) of the Companies Act 2013 and being eligible, offered himself for reappointment.
3. To appoint a Director in place of Shri Pawan Kumar Mishra (DIN- 09665365), who retires by rotation in terms of
Section 152(6) of the Companies Act 2013 and being eligible, offered himself for reappointment.
4. To confirm payment of Interim Dividend of ₹ 600.66 Crores (i.e., ₹ 639 per equity share) paid on 94,00,000 nos of
equity shares of ₹ 1,000/- each and to declare payment of the Final Dividend of ₹ 423.00 crores (i.e., ₹ 450/- per
equity share) on 94,00,000 Equity shares of ₹ 1000/- each as recommended by the Board.
5. To fix Audit Fees for Statutory Auditors/Branch Auditors of Central Coalfields Limited for the financial year 2022-23
and onwards.

To consider & if thought fit, to ratify with or without modification(s), the following resolution as an Ordinary
Resolution:

“RESOLVED THAT pursuant to Section 142(1) of the Companies Act, 2013 read with the Companies (Audit and
Auditors) Rules, 2014, the remuneration of, Statutory Auditor M/s S P A N & Associates and Branch Auditors M/s.
NKD & Co., Ranchi, M/s Lodha Patel Wadhwa & Co, Ranchi, M/s. V. Rohatgi & Co., Ranchi and M/s Sushil Kumar
Sharma & Co. Ranchi appointed by C&AG under Section 139 of the Companies Act 2013 for Audit of Accounts for
the Financial Year 2022-23, fixed at ₹ 28,73,750.00 only plus applicable GST and re-imbursement of out-of-pocket
expenses amounting to ₹ 7,18,200.00 as approved by the Board in its 526th Meeting held on 24-03-2023 be and is
hereby ratified.”

B. SPECIAL BUSINESS:
a. Ratification of Remuneration of Cost Auditor for the Financial Year 2022-23 under section 148 of the Companies Act
2013.

To consider & if thought fit, to ratify with or without modification(s), the following resolution as an Ordinary
Resolution:

“RESOLVED THAT pursuant to Section 3(148) of the Companies Act, 2013 and Rule 14 of the Companies (Audit
and Auditors) Rules, 2014 and other provisions of the Act, the remuneration of Cost Auditors M/S NIRAN & Co.,
the Principal Cost Auditor,   M/s MANI & Co., and M/s DGM & Associates as the Branch Cost Auditors for the

6
 financial year 2022-23 (excluding of out of pocket expenses limited to 50% of total fees) of ₹ 10,12,000/- and taxes
paid extra, as approved by the Board in its 519th Board Meeting held on 26-09-2022 be and is hereby ratified.”
The Explanatory Statement pursuant to Section 102(1) of the Companies Act, 2013 in respect of the special business
set out above is annexed hereto.

By Order of the Board of Directors

FOR CENTRAL COALFIELDS LIMITED

Sd/-
(Amaresh Pradhan)
Company Secretary
Memb. No. F-11264
Date : 28.07.2023
Place : Ranchi

Date of AGM : 02/08/2023

Time of AGM : 03.00 PM
Venue of the AGM : Conference Hall, 3rd Floor,
New Building, Darbhanga House
Ranchi 834029
(Jharkhand)

NOTES:
1. The Ministry of Corporate Affairs (“MCA”) inter-alia vide its General Circular Nos. 14/ 2020 dated April 8, 2020 and
17/2020 dated April 13, 2020, followed by General Circular Nos. 20/2020 dated May 5, 2020, and subsequent
circulars issued in this regard, the latest being 10/2022 dated December 28, 2022 (collectively referred to as “MCA
Circulars”) has permitted the holding of the annual general meeting through Video Conferencing (“VC”) or through
other audio-visual means (“OAVM”), without the physical presence of the Members at a common venue.
For attending meeting through VC or OAVM, link shall be provided from the authorized e-mail id of the Company
well in advance and the facility for joining the meeting shall be kept open at least 15 minutes before the time
scheduled to start the meeting and shall not be closed 15 minutes after such scheduled time.
2. Pursuant to the provisions of the act, a member entitled to attend and vote at the AGM is entitled to appoint a
proxy to attend and vote on his / her behalf and the proxy need not be a member of the Company. Since the AGM
is being held in accordance with the MCA Circulars through VC, the facility for the appointment of proxies by the
members will not be available.
3. Pursuant to sections 112 and 113 of the Companies Act, 2013 representatives of the members may be appointed
for participation and voting through VC or OAVM.
4. Participation of members through VC will be reckoned for the purpose of quorum for the AGM as per Section 103
of the Act.
5. Shareholders, Directors and Auditors including Secretarial Auditor of Central Coalfields Limited are entitled to
attend and/or vote at the meeting may also attend and /or vote at the meeting through video conferencing (VC)

7
 or other audio visual means (OAVM) to convey their assent or dissent only at such stage on items considered in the
meeting by sending e-mails to [email protected] .
6. Members are also requested to accord their consent for convening the meeting at a shorter notice as per Section
101(1) of the Companies Act, 2013/ as per Articles of Association of the Company.
7. Pursuant to the provisions of Section 171(1)(b) and 189(4) of the Companies Act, 2013, the registers required
to be kept open for inspection at every Annual General Meeting of the company, shall be accessible during the
continuance of the meeting to any person having the right to attend the meeting.
8. Since the AGM will be held through VC in accordance with the Circulars, the route map, proxy form and attendance
slip are not attached to this Notice.
9. Relevant Statement pursuant to Section 102(1) of the Companies Act, 2013, in respect of Special Business, as set
out above is also annexed hereto as “Annexure-A”.
10. Details of Director retiring by rotation and seeking re-appointment at this meeting are provided in the “Annexure-B”

Distribution:
I. Members
a) The Coal India Limited (Through Chairman, CIL), Member CCL, Coal Bhawan, New Town, Rajarhat, Kolkata- 700 156.
(Kind attention: Shri B.P. Dubey, Company Secretary, Coal Bhawan, Premises No. 04, Plot No. AF-III, Action Area1A,
New Town, Rajarhat, Kolkata-700156.)
b) Shri P.M Prasad, Chairman, CIL, Member CCL, Coal Bhawan, New Town, Rajarhat, Kolkata- 700 156.
c) Shri Vinay Ranjan, Director (Personnel & IR), Member CCL, CIL, Coal Bhawan, New Town, Rajarhat, Kolkata- 700 156.

II. Auditors
a) M/s S P A N & Associates., Ranchi, Statutory Auditors.
b) M/s Satish Kumar & Associates, Ranchi, Secretarial Auditor.
c) M/s Niran & Co., Cost Auditor.

III. Directors
a) Dr. B. Veera Reddy, Chairman-Cum-Managing Director, Darbhanga House, Ranchi-834029.
b) Shri Ramesh Kumar Soni, Independent Director & Chairman Audit Committee, Jagdalpur, Chhattisgarh-494001.
c) Shri Ajitesh Kumar, Director, Ministry of Coal, Govt. Nominee Director, Shastri Bhawan, New Delhi-110115.
d) Shri Vinay Ranjan, Director (Personnel & IR) CIL, Govt. Nominee Director, Coal Bhawan, New Town, Rajarhat, Kolkata-
700 156.
e) Shri Ram Baboo Prasad, D(T/O), Jawahar Nagar, Kanke Road, Ranchi-834008.
f) Shri Pawan Kumar Mishra, D(F), Jawahar Nagar, Kanke Road, Ranchi-834008.
g) Shri Harsh Nath Mishra, D(P), Jawahar Nagar, Kanke Road, Ranchi-834008.
h) Shri B. Sairam, DT(P&P), Darbhanga House, Ranchi-834008.

Copy to:
1. Company Secretary, Coal India Ltd., Coal Bhawan, New Town, Rajarhat, Kolkata- 700156.
2. GM(Finance), CCL, Ranchi.
3. GM(System), CCL, Ranchi-for uploading the notice of AGM on the website of the Company.

8
 ANNEXURE TO THE NOTICE FOR ANNUAL GENERAL MEETING
Annexure-A

The Explanatory Statement pursuant to section 102 of the Companies Act, 2013
As required under Section 102 of the Companies Act, 2013, the following explanatory statements sets out all material
facts relating to the business mentioned under Item 5 of the accompanying notice dated 28-07-2023:
5. Ratification of Remuneration of Cost Auditor for the Financial Year 2022-23 under section 148 of Companies
Act 2013.
As per the Rule 14 of Companies (Audit and Auditors) Rules, 2014
14. Remuneration of the Cost Auditor. - For the purpose of sub -section (3) of section 148 -
(a)  in the case of companies which are required to constitute an audit committee -
i. the Board shall appoint an individual, who is a cost accountant in practice, or a firm of cost accountants
in practice, as cost auditor on the recommendations of the Audit Committee, which shall also
recommend remuneration for such cost auditor;
ii. the remuneration recommended by the Audit Committee under (i) shall be considered and approved
by the Board of Directors and ratified subsequently by the shareholders.
Accordingly, the Board of Directors of the Company approved the appointment of following Cost
Auditors of the Company vide item No 519.4(1) in its 519th Board Meeting held on 26-09-2022 at a
remuneration of Rs 10,12,000/- (excluding of out of pocket expenses limited to 50% of the total fees
and applicable taxes) for undertaking the Cost Audit of Head Quarter and different areas of CCL for
the Financial Year 2022-23 on the recommendation of Audit Committee. The details are as follows:

Fees for Cost Audit for

List of Auditors Areas
FY 2022-23

M/S NIRAN & Co. For HQ, Barka Sayal, CWS, Argada, Rajrappa Areas 4,40,000

M/S MANI & CO. For Kathara , Dhori (Incl.Giridih), B&K Areas 2,94,000
For North Karnpura, Piparwar, Rajhara, Magadh & Sanghmitra,
M/s DGM & Associates 2,78,000
Amrapali & Chandragupta, Hazaribagh and Kuju Areas
Total 9,19,000

The travelling and out of pocket expenses will be reimbursed at actual limited to 50% of total fees. Applicable Taxes would be paid extra.

None of the Directors and Key Managerial Personnel of the Company or their relatives is interested or concerned (financial
or otherwise) in the said resolution except to the extent of shares held by them in the Company.
The Board of Directors of the Company recommended the resolution for the approval of the members in AGM.

By Order of the Board of Directors

For CENTRAL COALFIELDS LIMITED

Sd/-
(Amaresh Pradhan)
Company Secretary

9
 Annexure-B

Details of Directors retiring by rotation & seeking re-appointment at the Annual General Meeting-
In compliance of Secretarial Standard on General Meeting (“SS-2”), the requisite details of Directors seeking
re-appointment in Annual General Meeting is as tabulated below-

Name and designation Shri Ram Baboo Prasad,

of Director Director (Technical/Orn.)
DIN 09644944
Date of Birth 24.02.1964
Nationality Indian
Date of Appointment in the Board 14.05.2022

Terms and conditions of appointment/ As per appointment letter issued by Ministry of Coal, GOI
re-appointment and details of
remuneration sought and remuneration
last drawn

Qualification and Experience Bachelor of Technology (Mining Engineering) from Indian Institute of
Technology (Indian School of Mines) (IIT-ISM), Dhanbad, Jharkhand
in 1987. He did four different courses from IGNOU, New Delhi from
period 1996 to 1999 and obtained degree of Master of Business
Administration (Financial Management), Diploma in Management,
Post Graduate Diploma in Financial Management and Post Graduate
Diploma in Management.

He joined Coal India Limited (CIL) in the year 1987, he has vast working
experience as General Manager (Mining) from July 2010 to May
2022 in CCL as well as NCL. Sri Prasad has 35 years of vast diversified
experience of working in highly mechanized opencast mines as well as
underground mines in NCL, CCL and SECL.
Shareholding in the company NIL

Relationship with other Directors, Man- NIL

ager and Other KMP

No. of Meeting of Board attended 12

during the year 2022-23.

List of Directorship held in other Com- NIL

panies

Chairman/ Membership of other Com- Member of Risk Management Committee

mittee in CCL

10
 Annexure-B
Details of Directors retiring by rotation & seeking re-appointment at the AnnualGeneral Meeting-
In compliance of Secretarial Standard on General Meeting (“SS-2”), the requisite details of Directors seeking
re-appointment in Annual General Meeting is as tabulated below-

Name and designation of Shri Pawan Kumar Mishra,

Director Director (Finance)

DIN 09665365

Date of Birth 05.09.1973

Nationality Indian

Date of Appointment in the Board 10.06.2022

Terms and conditions of As per appointment letter issuedby Ministry of Coal, GOI
appointment/ re-appointment and
details of remuneration sought and
remuneration last drawn

Qualification and Experience He is Graduate in Commerce and also member of Institute of

Chartered Accountant of India.
Prior to his joining in CCL, he had worked as CFO (Chief Financial
Officer) with DNH Power Distribution Corporation Limited
(DNHPDCL), a power distribution utility and also Nuclear Power
Corporation Limited (NPCIL), a power generation company. He has
more than 20 years of experience in the fields of accounting, finance
and taxation.

Shareholding in the company NIL

Relationship with other Directors, NIL

Manager and Other KMP

No. of Meeting of Board attended during 11

the year 2022-23.

List of Directorship held in other Jharkhand Central Railway Limited

Companies

Chairman/ Membership of other Member of SD&CSR Committee

Committee in CCL

11
 CMD’s MESSAGE

Dear Shareholders,
It gives me great pleasure in welcoming you to the 67th Annual General Meeting of the Company. I extend my heartfelt
gratitude and a very warm welcome to our shareholders representing Coal India Limited connected with us virtually
for this meeting and my fellow Board Members present here and also connected virtually. The meeting is being held
through video conferencing in conformity with the regulatory framework and guidelines issued by the Ministry of
Corporate Affairs. The notice convening the meeting, the Directors’ Report and the Audited Financial Statements for the
year ended March 31, 2023, have been shared earlier through e-mail. With your permission, I would like to take them as
read.

Commercial primary energy consumption in India has grown by about 700% in the last four decades. Driven by the
rising population, expanding economy and a quest for improved quality of life, energy usage in India is expected to rise.
In line with the growing energy demand of the nation, CCL is emphasizing on coal production and productivity to the
best of its ability to meet the clean coal requirement with focus on enhancing production, productivity with sustained
development and inclusive growth of the society and stakeholders.

The FY 2022-23 was a momentous year in the journey of business and operation of CCL setting higher benchmarks
in both physical and financial performances. During the year your company scaled to a remarkable all-time high in
production, offtake, despatches to power sector in spite of challenging conditions.

Company Profile : l 1 Central Workshop (ISO9001) at Barkakana, 5

Regional Repair/ Workshops (3W/s are ISO 9001) at
Central Coalfields Limited is a Category-I Mini-Ratna
Jarandih, Tapin North,Dakra, Giridih & Bhurkunda;
Company since October 2007 and a 100% subsidiary of
Coal India Limited (A Government of India Undertaking). l 7 Coalfields (East Bokaro, West Bokaro, North
Karanpura, South Karanpura, Ramgarh, Giridih &
Your company Central Coalfields Limited (CCL), presently
Hutar).
operates:
l 36 Operative Mines: 03 Underground & 33 Opencast Performance :
Mines; Over the past few years, the corona pandemic and global
l 5 Washeries: 4 Coking Coal Washeries (Kathara, uncertainties has dominated every sphere of our life and
Rajrappa, Kedla & Sawang),1Non-Coking Coal we were severely tested. But these challenges have made
Washeries (Piparwar); us stronger, resilient and responsible not only at individual

12
level but at organizational level too. Despite the challenges MoU Performance :
faced, your company demonstrated robust operational Your Company has been rated “Excellent” as per the
and financial performance with achievements standing Memorandum of Understanding (MoU), signed with
testimony to the soundness of its operations & processes. the holding company Coal India Limited in line with the
guidelines of DPE, Ministry of Heavy Industries and Public
Performance :
Enterprises, Government of India for rating of CPSEs for the
During the Financial Year 2022-23, CCL has registered a financial year 2021-22. Considering financial performance
highest ever coal production of 76.08 Million Tonnes, a and achievement of other non-financial parameters, as
10.52% increase over that of the previous year. Similarly, the set in the MoU, your Company’s self-evaluated score rates
company has been able to achieve highest ever Raw Coal “Excellent” for the financial year 2022-23.
Offtake of 75.02 Million Tonnes, with an increase of 4.47%
over the previous year. In-line with need, 64.56 MT of coal New & Expansion Projects/Technology Adoption :
despatch, was made towards the Power Sector in FY 2022- The global energy transition is accelerating. Businesses
23. In case of Overburden Removal, your company has are making clear commitments towards a sustainable
achieved 106.58 Million Cu.M during the year. future with many innovations happening across products,
Going forward, your company has planned a significant services, manufacturing, and delivery. New business
scaling-up of coal production, up from 76 MT in 2022-23 models are also emerging. This requires investments in
to 84 MT in 2023-24 and contributing significantly to Coal technology and innovation. In the past decade, there has
India Limited in achieving the target of 780 MT for the been a rapid evolution of digital technologies, bringing
FY 2023-24. about a transformation across every industry including
mining. New technologies can have a number of impacts
Financial : on mining operations, including safety and productivity,
During the year, your Company has achieved highest ever environmental protection and opportunities for women.
gross sales, net sales, PBT and PAT. The gross sales for the Safer working conditions through improved underground
year was Rs. 22,720.19 Crore, net sales was Rs.15,226.21 communication, automation, more sophisticated mineral
Crore with growth of 22.24% & 23.26% respectively in and metal transportation, and emergency response
comparison to previous year. Profit before Tax (PBT) stood measures are achieved by integrating technology into
at Rs. 3743.61 Crores and Profit after Tax (PAT) at Rs.2751.67 mining projects. Technological advancements in mining
Crores as compared to Profit before Tax (PBT) of Rs. 2094.73 are also making operations more productive. In view of
Crores and Profit after Tax (PAT) of Rs. 1696.92 Crores of it, your company always strive for implementation of new
the previous year with an increase of 78.72% and 62.16% technologies and build digital infrastructure to support
respectively. current and future ramp up for the mining. Marching
The Company’s Net worth as on 31st March 2023 stood at ahead towards achieving its objectives, your company has
Rs. 10,317.49 Cr, a significant rise of 22.65 % as compared developed strong, multi-speed backbone information
over Rs.8,411.98 Cr of the previous year. technology and infrastructure system that allows rapid
deployment of new technologies. There are 25 ongoing
Capex : projects of total capacity-199.42 MTY, 21 completed
During the year, CCL has made a capital expenditure of projects of total capacity-28.44 MT, 3 existing projects and
Rs. Rs.2252.07 Crore compared to Rs.1849.11 Crore in the 3 mining projects have been approved during FY 2022-23.
previous year, focusing mainly on Land, Building, Railway During the year, One (1) project of 7.5 MTPA under First Mile
and Mining infrastructure, Plant & Machineries. Connectivity-1 (FMC-I) project is under advance stage of
construction. Further, two more projects of total capacity
Dividend : of 12.5 MTPA has been awarded under FMC-II Project and
I am happy to share that your Company has paid Rs. 600.66 is under construction. Company also has planned for
Crores as Interim Dividend and further a Final Dividend of construction of 06 new CHPs of total capacity of 136 MTPA
Rs. 423.00 Crores is also recommended by the Board for under FMC-III projects.
declaration by members in the ensuing Annual General At CCL, we have been on a journey to strengthen our
Meeting, aggregating to a total dividend for the FY 2022- technology backbone over the last few years. This constant
23 to Rs. 1023.66 Cr. i.e. Rs 1089.00 per share on 94,00,000 journey towards becoming an intelligent enterprise to
equity shares of Rs. 1,000.00 each (previous year Rs 827.20 enable us to create a tech-powered and humancentric
Cr. i.e. ₹ 880.00 per share on 94,00,000 equity shares of Rs. solution that fits the complexity of the business and
1,000.00 each).

13
emerging consumer needs. In this direction for adoption efforts, CCL has incurred an expenditure of 36.12 crore on
& adaptation of new technologies, I would like to bring CSR activities during FY 2022-23 under various sectors like
your notice the following work in CCL which may be put Healthcare and Nutrition, Education, Sports promotion,
under spotlight: Drinking water supply, Rural development etc.
l VTS-RFID-ANPR-boom barrier based WB system The annual theme for CSR for the FY 2022-23 as per
Implementation of SAP for business process directives of DPE was ‘Health and Nutrition’ for the year
integration 2022-23. Therefore, Out of Rs. 36.12 Cr of CSR expenditure
in the FY 2022-23, expenditure towards the annual theme
l Solar Projects: Installed capacity of 1.25 MW during
amounts to Rs.15.01 Crore.
the year with target to add 85 MW capacity solar
projects in FY 2023-24. Safety :
l Rail & Road Weighbridges: 3 nos. of new rail For any organization, safety plays a pivotal role in
weighbridge (140 MT In-Motion) & 01 no. of 100 MT maintaining sustainability which is of paramount
Road weighbridge installed during the year. 11 nos. importance for the growth of the industry. Ensuring
of new 100 MT Road Weighbridges supplied at CCL organizational safety is something that is deeply
and is under installation. ingrained within our culture and the company has been
uncompromising in working to ensure that each and every
l Upgradation of Rail WBs for FOIS compliance and
employee stays safe every single day. The main objective
connectivity of Rail WBs for data transfer to FOIS
is to maintain an International level of safety standards
servers and integration with SAP
and to adopt certain rules, regulation and procedures for
l GPS based Vehicle Tracking System achieving Zero harm.
l CCTV Surveillance at Vulnerable points of CCL The primary concern of the company is to safeguard its
Command Areas. prime assets i.e. men, mines and machines and hence
all activities have their focus to ensure ‘Zero Harm’ to our
l Networking Infrastructure has been established
resources. The safety status of all the mines are regularly
for Hospital Management System at four Central
reviewed by management which results in improvement
Hospitals of CCL
and enhancement of the safety standards.
l Bigger and better Local Area Network for all Areas
In pursuit of reduction in serious and fatal incidents major
of CCL has been established
steps have been put in place such as:
l Deployment of Digital Walkie Talkies, Transceivers
l Conduct of regular Safety Board meeting
and Repeater Sets for Magadh & Amrapali Projects
of CCL was done l Special Drive for activation of Safety Committee
l Centralized Internet Leased Line facility has been l Central Safety Information System(CSIS)Portal
provided from CCL HQ to All Areas
l Inter Area Safety Audit
Corporate Social Responsibility
l Principal Hazards Management Plans (PHMP)
Your Company continues to engage with communities
through its wide-ranging CSR programmes, positively l Regular upgradation of safety equipment’s
reaching millions of lives in state of Jharkhand. Further, l Conduct of timely Bi partite and Tri partite meeting
your Company firmly believes that the commitment on safety Human Resource
towards playing a defining role in the development of its
stakeholders extends to uplifting lives of the marginalized In today's fast-paced corporate environment, training and
segments of the society, living in and around its areas of development is an essential role and needs to know the
operation. The principles of Corporate Social Responsibility importance of training and development. Training and
(CSR) are deeply imbibed in your Company’s corporate development serve as a tool for organizational success in
culture. Sustainable Development being central to its the face of cutthroat competition in the corporate sector,
mission, Central Coalfields Limited has strong intent to where competent manpower is a crucial factor to achieve a
serve the local community. Continuing service to villagers competitive advantage. CCL takes regular initiative to equip
of command Area through its Community Development practising managers, employees, workers and contractual
Programme, CCL has up-scaled social goods manifold workers and stakeholders with the skill to synthesis the
after introduction of CSR in 2014, covering command area theory and practice. Employees are frequently motivated
and other parts of Jharkhand State. To amplify outreach and their organizational commitment is improved through

14
training and development initiatives, given the trend of 2. In FY 2022-23, 15 numbers of trolley mounted fog
increasing competitiveness. CCL also pays due attention cannons are procured and installed for units of CCL,
on employees welfare and social amenities. CCL sets very and in addition fixed water sprinklers are also installed
clear objectives for overall wellbeing of the employees by at projects of CCL.
ensuring and providing all the welfare amenities to the
3. Mine water in command area of CCL is utilized for
employees. The company aims at boosting the morale
supplying water to nearby villages (120 numbers)
of the employees and improving the work efficiency
benefitting around 1,86,703 people further voids
by providing a congenial and professionally cordial
in CCL mines are also being utilized for caged fish
work atmosphere. As far as training and development is
farming/Pisciculture by local communities/Self Help
concerned CCL lays stress in two core areas –
Groups.
Y Knowledge Enhancement
4. MOU of CCL with WAPCOS for developing and
Y Skill Development maintaining nine eco-parks in the command area of
CCL covering an area of more than 100 Ha at a cost of
In the domain of Knowledge Enhancement, the functional
approximately 63 Crores.
areas of management, imparting cross functional input
to functional executives, general management program 5. Installation of 14 numbers of Continuous Ambient Air
for executives, induction and orientation program for Quality Monitoring System (CAAQMS) & 28 numbers
management trainees and newly recruited executives, of Continuous PM10 Analyzers in command area
E-office & ERP training for executives and non-executives, of CCL data of which are linked with the servers of
Awareness Programs for Standard Operating Procedures, Jharkhand State Pollution Control Board (JSPCB).
Finance for non-finance employees, Rescue & Safety
Corporate Governance
Programs, Functional skill program for Personnel Executives
have been conducted. Your company has established adequate system for
monitoring compliances of various laws, Code of Conduct
Skill Development for executives, frontline supervisors
for Board Members and Senior Management Personnel
and skill up gradation program for non-executives have a
and Corporate Governance Guidelines for CPSEs issued by
constant place in the day to day curriculum of the company.
the DPE.
Environmental Management
The company has established a system for monitoring
We believe that every business has the opportunity compliances to the various laws. The Code of Conduct of
and obligation to protect our planet. Environment Board Members and Senior Management Personnel of
sustainability is one of our core values and we strive to the Company, functioning of Audit Committee as per the
build sustainability into everything we do. Company has terms of reference and composition of Board of Directors
adopted several ways to reduce environmental effects as per laid down guidelines are ensured and complied. CCL
such as artificial water sources for water storage and Board has a Risk Management Committee for apprising
ground water recharge, pisciculture in abandoned mines, and monitoring the risks of the Company. A separate
rainwater harvesting and distribution to surrounding section on Corporate Governance has been added to
communities after treatment, forestation/plantation the Directors' Report. The practicing Company Secretary
within the Mine area, scientific restoration of OB dump, has also issued a Certificate regarding compliance of
Mine tourism, three-tier plantation etc. vast resources to conditions of Corporate Governance during the year
innovate and recreate a viable world, thus transforming 2022-23. In addition, Secretarial Audit for 2022-23 under
adversaries to its advantage Companies Act, 2013 was also conducted by Practicing
Company Secretary who gave an unqualified Report
The following section provides a snapshot of our
except for appointment of requisite number of Non-
performance as of the end of 2023, demonstrating
Official Part-time (Independent) Directors on Board of
how we’re strengthening our business by reducing the
Directors in compliance of Ministry of Coal’s directives and
environmental impact of our operations and working to
DPE guidelines.
empower people everywhere to live more sustainably:
With robust all-round performance, your Company has
1. Environment clearances (EC) for 5 mines, enhancement
retained its “Excellent” MoU rating in respect of Corporate
of EC capacity obtained for 1 mine.
Governance.

15
Awards & Accolades: Acknowledgement :
During the year, CCL was conferred with following I would like to take this opportunity to express my sincere
awards: - regards and deep gratitude to our share holder Coal India
Limited along with its Management, the Government of
l Coal Minister’s Award” on Safety (2nd prize) on India, especially our administrative Ministry i.e. Ministry of
18th August 2022 for FY 2021- 22. Coal, Ministry of Environment, Forests & Climate Control,
l “Coal Minister’s Award” on Sustainability (3rd prize) other Central Government Authorities, Government
on 18th August 2022 for FY 2021- 22. of Jharkhand (particularly Ministry of Mines, Home
Department and Local District Administrations, Auditors,
l “Corporate Award on Safety” (2nd prize) on CIL’s People’s Representatives, Local villages, Local Bodies,
48th Foundation Day (1st Nov 2022). Trade Unions, our Valued Customers, Suppliers and Media,
l “ICSI CSR Excellence Award” for the year 2022 for for their continuous support, trust and co-operation.
the Best Corporate (Large Category) in the award I convey my appreciation to my colleagues on the Board
ceremony organized in Mumbai on January 6th and all employees for their valuable contribution towards
2023. the growth of the Company.
l In 2nd National CSR Awards of Ministry of Corporate I strongly believe that the way the Company has built
Affairs, Government of India CCL declared winner in around the resources and capabilities, it will certainly bring
the category “Promotion of Sports” for its flagship more success in the years to come and by continuously
project on Running of Sports Academy at Hotwar, doing so your Company will continue to meet the
Ranchi. expectation of our numerous stakeholders including the
l Certified with 'Four Star Rating' under GRIHA (Green expectation of the Nation. Your Company values your trust
Rating for Integrated Housing Assessment for Green and confidence and shall continue to work tirelessly to
Buildings) during an event on 20 December 2022. take it forward

Sd/-
Dr. B. Veera Reddy
Chairman-cum-Managing Director
DIN- 08679590

16
 Raw Coal
Production & Offtake

Sales

Profit

Net Worth

17
 OPERATIONAL STATISTICS
Year Ending 31st March 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014

1. (a) Production of Raw Coal:

(Million Tonnes)

Underground 0.863 0.755 0.424 0.703 0.315 0.405 0.74 0.85 0.84 0.96

Opencast 75.225 68.091 62.166 66.186 68.407 63.000 66.31 60.47 54.81 49.06

TOTAL 76.088 68.846 62.589 66.889 68.722 63.405 67.05 61.32 55.65 50.02

(b) Overburden Removal:(Million Cub.

106.581 100.066 103.577 103.356 100.490 95.622 102.63 106.78 97.38 59.02
Mts.)

2. Off take (Raw Coal)

(Million Tonnes)

Steel 0.00 0.00 0.053 0.039 0.00 0.00 0.03 0.34 0.65 0.32

Power 60.89 54.82 47.407 46.648 45.37 42.22 37.24 33.52 33.41 32.10

Cement 0.00 0.009 0.053 0.000 0.00 0.00 0.00 0.00 0.00 0.00

Fertilizer 0.11 0.115 0.13 0.143 0.09 0.15 0.22 0.24 0.24 0.27

Others 8.34 10.948 10.63 11.732 13.80 15.73 10.83 12.40 10.23 9.00

Coal Feed to Washeries 5.36 5.51 7.04 8.770 9.19 9.41 12.61 13.09 10.81 10.43

TOTAL 75.03 71.81 65.40 67.332 68.45 67.51 60.93 59.59 55.34 52.12

3. Average Manpower 35418 36289 37444 38695 39919 41467 42919 44346 45849 47406

4. Productivity:

Average per Man per Year

(A) 2148.28 1897.16 1671.54 1728.62 1721.54 1529.05 1562.25 1382.76 1213.81 1055.14
(Tonnes)

(B) Output per manshift (OMS):

(i)
(ii)
(iii) Underground (Tonnes) 2.13 1.17 0.44 0.540 0.214 0.194 0.29 0.32 0.29 0.33

Opencast (Tonnes) 10.68 10.16 9.57 10.060 9.740 9.372 9.81 8.91 7.56 6.26

Overall (Tonnes) 10.22 9.37 8.39 8.490 8.093 7.195 7.23 6.51 5.46 4.64

5. Information — As per Cost Report

(i) Earning per Manshift (₹) 6252.92 4814.08 4185.94 4003.35 3794.70 3344.68 2985.56 2651.86 2507.87 2377.57

Avg. Cost of Production of Net

Saleable Coal
(ii) 1500.87 1385.72 1343.69 1249.82 1125.09 1285.33 1048.85 1045.84 1099.43 1079.17
(₹ P.T.)

Avg. Sale Value of Production

(iii) of Net Saleable Coal 1827.91 1608.20 1456.20 1547.08 1497.68 1369.23 1414.25 1490.72 1435.90 1414.86
(₹ P.T.)

18
 FINANCIAL POSITION
(STANDALONE)
After IND AS
(₹ in Crore)

Sl. Particulars 2022-23 2021—22 2020—21 2019—20 2018—19

A. Non—Current Assets
a. Property, Plant & Equipment 6,045.80 5,737.61 5,532.00 4,670.11 2,496.09
b. Capital Work in Progress 1,313.51 900.83 907.26 736.75 2,355.18
c. Exploration and Evaluation Assets 683.95 573.69 499.79 448.45 405.43
d. Intangible Assets 26.80 19.93 10.93 4.37 5.74
e. Financial Assets
i. Investments 345.53 345.53 64.63 32.00 32.00
ii. Loans 5.10 2.06 0.49 0.55 0.66
iii. Other Financial Assets 1,642.99 1,365.00 1,250.53 1,787.15 1,467.73
f. Deferred Tax Assets (Net) 504.96 679.47 674.14 843.44 1,039.09
g. Other Non—Current Assets 3,056.25 2,293.68 1,436.20 620.07 1,123.94
Total Non—Current Assets (A) 13,624.89 11,917.80 10,375.97 9,142.89 8,925.86
B. Current Assets
a. Inventories 1,144.30 1,031.34 1,288.67 1,233.36 1,353.66
b. Financial Assets
i. Investments 718.59 64.72 — 0.48 52.56
ii. Trade Receivables 3,001.17 2,149.65 3,402.53 2,492.11 1,095.13
iii. Cash & Cash Equivalents 850.64 664.91 226.69 117.94 244.55
iv. Other Bank Balances 2,533.87 1,413.04 986.69 490.85 841.51
v. Loans 0.71 — — — —
vi. Other Financial Assets 158.87 97.84 256.70 591.44 628.38
c. Current Tax Assets (Net) 67.41 154.23 151.68 62.42 —
d. Other Current Assets 3,408.40 3,217.82 2,711.04 2,399.05 2,575.01
Total Current Assets (B) 11,883.96 8,793.55 9,024.00 7,387.65 6,790.80
Total Assets (A + B) 25,508.85 20,711.35 19,399.97 16,530.54 15,716.66
EQUITY AND LIABILITIES
A. EQUITY

1. Issued, Subscribed and Paid—up Equity Share Capital 940.00 940.00 940.00 940.00 940.00
2. Capital Redemption Reserve — — — — —
Opening Balance
Buyback of Equity Shares — — — — —
Issue of Bonus Shares — — — — —
Balance at Closing — — — — —
3. Capital Reserve — — — — —
4. General Reserve
Opening Balance 2,392.00 2,307.15 2,246.09 2,153.70 2,068.48
Transfer to/from General reserve 137.58 84.85 61.06 92.39 85.22
Buyback of Equity Shares — — — — —
Issue of Bonus Shares — — — — —
Balance at Closing 2,529.58 2,392.00 2,307.15 2,246.09 2,153.70

19
 FINANCIAL POSITION
(STANDALONE)
After IND AS (Contd.)
(₹ in Crore)
Sl. Particulars 2022—23 2021—22 2020—21 2019—20 2018—19
5. Retained Earnings
Opening Balance 5,305.45 4,475.46 3,315.24 1,914.58 653.43
Adjustments (0.09) — — — —
Profit for the year 2,751.67 1,696.92 1,221.28 1,847.75 1,704.47
Appropriations
Transfer to/from General reserve (137.58) (84.85) (61.06) (92.39) (85.22)
Transfer to other reserves — — — — —
Interim Dividend (600.66) (404.20) — (294.22) (297.04)
Final Dividend (423.00) (377.88) — — —
Corporate Dividend Tax — — — (60.48) (61.06)
Tax on Buyback — — — — —
Issue of Bonus Shares — — — — —
Balance at Closing 6,895.79 5,305.45 4,475.46 3,315.24 1,914.58
6. Other Comprehensive Income
Opening Balance (225.47) (174.08) (109.80) 134.44 154.13
Remeasurement of Defined Benefits Plans (net of Tax) 177.59 (51.39) (64.28) (244.24) (19.69)
Balance at Closing (47.88) (225.47) (174.08) (109.80) 134.44
7. Other Equity 9,377.49 7,471.98 6,608.53 5,451.53 4,202.72
8. Equity Attributable to Equity holders of 10,317.49 8,411.98 7,548.53 6,391.53 5,142.72
the Company
9. Non—controlling interest — — — — —
10. TOTAL EQUITY (A) 10,317.49 8,411.98 7,548.53 6,391.53 5,142.72
B. Liabilities
Non—Current Liabilities
a. Financial Liabilities
i. Borrowings — — — — —
ii. Trade Payables — — — — —
iii. Other Financial Liabilities 232.21 146.25 84.40 81.21 70.61
b. Provisions 5,334.98 5,118.65 4,876.36 4,116.22 3,411.37
c. Deferred Tax Liabilities (net) — — — — —
d. Other Non—Current Liabilities 452.98 496.58 537.33 578.07 540.84
Total Non—Current Liabilities (B) 6,020.17 5,761.48 5,498.09 4,775.50 4,022.82
C. Current Liabilities
a. Financial Liabilities
i. Borrowings — — — — —
ii. Trade Payables 1,315.11 1,555.34 1,360.82 1,404.78 484.15
iii. Other Financial Liabilities 1,214.63 1,123.19 1,268.08 439.21 502.75
b. Other Current Liabilities 4,466.99 3,037.75 2,889.75 2,577.22 4,556.45
c. Provisions 2,174.46 821.61 834.70 942.30 1,007.77
Total Current Liabilities (C) 9,171.19 6,537.89 6,353.35 5,363.51 6,551.12
Total Equity and Liabilities (A + B + C) 25,508.85 20,711.35 19,399.97 16,530.54 15,716.66

20
 INCOME AND EXPENDITURE STATEMENT
(STANDALONE)
After IND AS
(₹ in Crore)
FOR THE YEAR ENDING
Sl. Particulars 2019 2018
2023 2022 2021 2020
(Restated) (Restated)
A. Earned From

1. Gross Sales (Coal) 22,720.19 18,585.25 15,900.51 16,768.33 16343.92 15,728.80

Less: Excise duty and other levies 7,493.98 6,233.12 5,126.19 5,125.69 5069.93 4,910.91
2. Net Sales 15,226.21 12,352.13 10,774.32 11,642.64 11,273.99 10,817.89
3. i. Facilitation charges for coal import — — — — — —
ii. Subsidy for Sand Stowing & Protec- — — — — — 1.05
tive Works
iii. Recovery of Transportation & Load- 700.04 725.62 664.23 597.39 562.51 428.62
ing Cost (Net of Levies)
iv. Evacuation facilitating charges (Net 452.95 408.67 326.34 340.69 343.40 102.55
of Levies)
v. Revenue from Services (Net of — — — — — —
Levies)
3. Other Operating Revenue (Net of Levies) 1,152.99 1,134.29 990.57 938.08 905.91 532.22

4. i. Interest on Deposits & Investments 226.59 93.99 93.99 143.44 115.29 264.81
ii. Dividend from Mutual Funds — — 0.01 3.15 4.92 10.59
iii. Other non–Operating Income 691.64 239.70 230.67 458.86 192.82 233.56
4. Other Income 918.23 333.69 324.67 605.45 313.03 508.96
TOTAL (A) 17,297.43 13,820.11 12,089.56 13,186.17 12,492.93 11,859.07
B. Paid to / Provided for

1. i. Salary, Wages, Allowances, Bonus

5,557.91 4,247.07 3,863.35 3,866.92 3,755.20 3,754.14
etc
ii. Contribution to PF & Other Funds. 686.23 681.91 643.43 673.03 699.23 448.80
iii. Gratuity 181.81 100.75 216.69 144.50 246.45 1,014.03
iv. Leave Encashment 359.50 78.79 227.62 201.70 193.60 66.38
v. Others 437.25 367.10 281.61 374.15 234.38 195.20
1. Employee Benefit Expenses 7,222.70 5,475.62 5,232.70 5,260.30 5,128.86 5,478.55

2. Cost of Materials Consumed 1,170.83 855.15 730.39 762.94 796.28 715.02

3. Changes in inventories of finished

goods/work in progress and Stock in -81.81 278.86 (57.43) 126.37 (23.44) 512.66
trade
4. Power & Fuel 265.88 261.55 236.64 226.86 231.02 277.35

5. Corporate Social Responsibility Expenses 43.39 53.14 46.46 52.89 41.14 37.90

6. Repairs 243.10 273.20 287.91 347.09 374.57 326.69

7. Contractual Expenses 1,944.87 1,867.10 1,638.11 1,604.04 1,322.13 1,294.38

8. Finance Costs

Unwinding of discounts 75.44 81.77 78.91 75.09 69.53 67.21

Other finance costs — — 4.98 0.53 5.72 103.60

9. Depreciation/Amortisation/Impairment 682.96 647.55 554.26 490.39 344.28 351.52

10. Stripping Activity Adjustment 652.18 725.21 365.87 180.41 347.60 284.51
11. Provisions & Write Off 284.03 3.44 12.93 35.52 93.95 1.73
12. Other Expenses 1,050.25 1,202.79 1,011.26 1,091.02 1,069.09 1,020.46

TOTAL (B) 13,553.82 11,725.38 10,142.99 10,253.45 9,800.73 10,471.58

21
 INCOME AND EXPENDITURE STATEMENT
(STANDALONE)
After IND AS (Contd...)
(₹ in Crore)
Sl. Particulars FOR THE YEAR ENDING
2023 2022 2021 2020 2019 2018
(Restated) (Restated)
13. Profit before exceptional items andTax 3,743.61 2,094.73 1,913.18 2,932.72 2,692.20 1,387.49
(A – B)
14. Exceptional Items — — — — — —
15. Profit before Tax 3,743.61 2,094.73 1,913.18 2,932.72 2,692.20 1,387.49
16. Less : Tax Expenses 991.94 397.81 691.90 1,084.97 987.73 579.71
17. Profit for the year from 2,751.67 1,696.92 1,221.28 1,847.75 1,704.47 807.78
continuing operations
18. Profit/(Loss) from discontinuedoperations — — — — — —
(after Tax)
19. Share in JV’s/Associate’sprofit/(loss) — — — — — —
20. Profit for the Year 2,751.67 1,696.92 1,221.28 1,847.75 1,704.47 807.78
21. Other Comprehensive Income

A. i. Items that will not be reclassifiedto profit 237.32 (68.68) (85.90) (326.38) (30.27) 155.59
or loss
ii. Income tax relating to items that will not 59.73 (17.29) (21.62) (82.14) (10.58) 53.85
be reclassified to profit or loss
B. i. Items that will be reclassified toprofit — — — — — —
or loss
ii. Income tax relating to items that will be — — — — — —
reclassified to profit or loss
22. Total Other Comprehensive Income 177.59 (51.39) (64.28) (244.24) (19.69) 101.74
Total Comprehensive Income for the 2,929.26 1,645.53 1,157.00 1,603.51 1,684.78 909.52
Year (Comprising Profit/(Loss) and
O t h e r C o m p r e h e n s i v e I n c o m e for
the Year)
23. Profit attributable to :

Owners of the Company 2,751.67 1,696.92 1,221.28 1,847.75 1,704.47 807.78

Non—controlling interest — — — — — —

2,751.67 1,696.92 1,221.28 1,847.75 1,704.47 807.78

24. Other Comprehensive Income attributable

to :
Owners of the company 177.59 (51.39) (64.28) (244.24) (19.69) 101.74

Non—controlling interest — — — — — —

177.59 (51.39) (64.28) (244.24) (19.69) 101.74

25. Total Comprehensive Incomeattributable

to :
Owners of the company 2,929.26 1,645.53 1,157.00 1,603.51 1,684.78 909.52

Non—controlling interest — — — — — —

2,929.26 1,645.53 1,157.00 1,603.51 1,684.78 909.52

22
 INCOME AND EXPENDITURE STATEMENT
(STANDALONE)
After IND AS (Contd...)
(₹ in Crore)
For the year ending
Sl. Particulars 2018-19 2017-18
2022-23 2021-22 2020-21 2019-20
(Restated) (Restated)
A. Related To Assets & Liabilities
1. i. No. of Equity Shares of ₹ 1000/— each. 9400000 9400000 9400000 9400000 9400000 9400000
ii. Shareholder’s Funds
a. Equity Share Capital 940.00 940.00 940.00 940.00 940.00 940.00
b. Reserves (General & Statutory) 2,529.58 2,392.00 2,307.15 2,246.09 2,153.70 2,068.48
c. Accumulated Profit/Loss 6,847.91 5,079.98 4,301.38 3,205.44 2,049.02 807.56
Net Worth 10,317.49 8,411.98 7,548.53 6,391.53 5,142.72 3,816.04
d. Capital Reserve — — — — — —
Shareholder’s Funds 10,317.49 8,411.98 7548.53 6391.53 5142.72 3816.04
2. i. Long Term Borrowings incl. Current Maturities — — — — — —
ii. Long Term Borrowings excl. Current Maturities. — — — — — —
3. i. Gross Property Plant & Equipment 9,457.36 8,602.80 7,838.14 6,568.64 3960.35 3531.70
ii. Accumulated Depreciation/Impairment 3,411.56 2,865.19 2,306.14 1,898.53 1464.26 1110.61
iii. Net Property Plant & Equipment 6,045.80 5,737.61 5,532.00 4,670.11 2496.09 2421.09
4. i. Current Assets 11,883.96 8,793.55 9,024.00 7,387.65 6790.80 6457.60
ii. Current Liabilities 9,171.19 6,537.89 6,353.35 5,363.51 6551.12 7436.94
iii. Net Current Assets/ Working Capital 2,712.77 2,255.66 2,670.65 2,024.14 239.68 (979.34)
5. i. Capital Employed [3 (iii) + 4 (iii)] 8,758.57 7,993.27 8,202.65 6,694.25 2735.77 1441.75
ii. Net Capital WIP & Intangible Assets under Development 2,024.26 1,494.45 1,417.98 1,189.57 2766.35 1903.45
iii. Capital Employed including CWIP [5 (i) + 5 (ii)] 10,782.83 9,487.72 9,620.63 7,883.82 5502.12 3345.20
6. i. Trade Receivables 3,001.17 2,149.65 3,402.53 2,492.11 1095.13 1121.00
ii. Cash & Cash Equivalents 850.64 664.91 226.69 117.94 244.55 161.98
iii. Other Bank Balances 2,533.87 1,413.04 986.69 490.85 841.51 1194.23
7. i. Closing Stock of Coal (Net) 965.24 881.21 1,163.03 1,103.27 1229.85 1206.37
ii. Closing Stock of Stores & Spares (Net) 174.70 144.46 123.03 125.51 119.15 137.92
iii. Closing Stock Others (Net) 4.36 5.67 2.61 4.58 4.66 4.94
B. Related To Profit/Loss
1. i. Gross Margin (PBDIT) 4,502.01 2,824.05 2,551.33 3,498.73 3111.73 1909.82
ii. Gross Profit (PBIT) 3,819.05 2,176.50 1,997.07 3,008.34 2767.45 1558.30
iii. Profit Before Tax 3,743.61 2,094.73 1,913.18 2,932.72 2692.20 1387.49
iv. Profit after Tax for the Year 2,751.67 1,696.92 1,221.28 1,847.75 1704.47 807.78
v. Net Profit (After Tax & Dividend) 1,728.01 914.84 1,221.28 1,553.53 1407.43 276.68
vi. Total Comprehensive Income 2,929.26 1,645.53 1,157.00 1,603.51 1684.78 909.52
2. i. Gross Sales of Coal 22,720.19 18,585.25 15,900.51 16,768.33 16343.92 15728.80
ii. Net Sales 15,226.21 12,352.13 10,774.32 11,642.64 11273.99 10817.89
iii. Sale Value of Production 15,308.02 12,073.27 10,831.75 11,516.27 11297.43 10305.23
3. Cost of Goods Sold (Net Sales – PBT) 11,482.60 10,257.40 8,861.14 8,709.92 8581.79 9430.40
4. Total Expenditure 13,553.82 11,725.38 10,142.99 10,253.45 9800.73 10471.58
i. Employee Benefit Expenses 7,222.70 5,475.62 5,232.70 5,260.30 5128.86 5478.55
ii. Cost of Materials Consumed 1,170.83 855.15 730.39 762.94 796.28 715.02
iii. Power & Fuel 265.88 261.55 236.64 226.86 231.02 277.35
iv. Finance Cost & Depreciation 758.40 729.32 638.15 566.01 419.53 522.33
5. Average Consumption of Material per month 97.57 71.26 60.87 63.58 66.36 59.59
6. i. Average Manpower Employed during the year 36,313.5 36,313.5 37,444 38,989.5 40000 41467
ii. CSR Expenses 43.39 53.14 46.46 52.89 41.14 37.90
iii. CSR Expenses per employee (₹'000) 11.95 14.63 12.41 13.57 10.29 9.14
7. Value Added 13,871.31 10,956.57 9,864.72 10,526.47 10270.13 9312.86
i. Value Added per employee (₹ '000) 3,819.88 3,017.22 2,634.53 2,699.82 2567.56 2245.88

23
 INCOME AND EXPENDITURE STATEMENT
(STANDALONE)
After IND AS (Contd...)
(₹ in Crore)
2018—19 2017—18
Sl. Particulars 2022-23 2021-22 2020-21 2019—20
(Restated) (Restated)
A. PROFITABILITY RATIOS
1. AS % NET SALES
i. Gross Margin (PBDIT) 29.57 22.86 23.68 30.05 27.60 17.65
ii. Gross Profit (PBIT) 25.08 17.62 18.54 25.84 24.55 14.40
iii. Profit Before Tax 24.59 16.96 17.76 25.19 23.88 12.83
2. AS % TOTAL EXPENDITURE
i. Employee Benefits Expenses 53.29 46.70 51.59 51.30 52.33 52.32
ii. Cost of Materials Consumed 8.64 7.29 7.20 7.44 8.12 6.83
iii. Power & Fuel 1.96 2.23 2.23 2.21 2.36 2.65
3. AS % CAPITAL EMPLOYED (excluding CWIP)
i. Gross Margin (PBDIT) 51.40 35.33 31.10 52.26 113.74 132.47
ii. Gross Profit (PBIT) 43.60 27.23 24.35 44.94 101.16 108.08
iii. Profit Before Tax 42.74 26.21 23.32 43.81 98.41 96.24
4. AS % CAPITAL EMPLOYED (including CWIP)
i. Gross Margin (PBDIT) 41.75 29.77 26.52 44.38 56.56 57.09
ii. Gross Profit (PBIT) 35.42 22.94 20.76 38.16 50.30 46.58
iii. Profit Before Tax 34.72 22.08 19.89 37.20 48.93 41.48
5. OPERATING RATIO (Net Sales – PBT/Net Sales) 0.75 0.83 0.82 0.75 0.76 0.87
B. LIQUIDITY RATIOS
1. Current Ratio (CurrentAssets/Current Liability) 1.30 1.35 1.42 1.38 1.04 0.87
2. Quick Ratio (Quick Assets/Current Liability) 1.17 1.19 1.22 1.15 0.83 0.69
C. TURNOVER RATIOS
1. Capital turnover Ratio
i. (Net Sales/Capital Employed excluding CWIP) 1.74 1.55 1.31 1.74 4.12 7.50
ii. (Net Sales/Capital Employed including CWIP) 1.41 1.30 1.22 1.48 2.05 3.23
2. Trade Receivables (Net) as no. of months
i. Gross Sales 1.59 1.39 2.57 1.78 0.80 0.86
ii. Net Sales 2.37 2.09 3.79 2.57 1.17 1.24
3. As Ratio of Net Sales
i. Trade Receivables 0.20 0.17 0.32 0.21 0.10 0.10
ii. Coal Stock 0.06 0.07 0.11 0.09 0.11 0.11
4. Stock of Coal
i. As no. of month’s Value of Production 0.76 0.88 1.29 1.15 1.31 1.40
ii. As no. of month’s of Cost of Goods Sold 1.01 1.03 1.58 1.52 1.72 1.54
iii. As no. of month’s Net Sales 0.76 0.86 1.30 1.14 1.31 1.34
D. STRUCTURAL RATIOS
1. Long Term Debt : Equity Share Capital — — — — — —
2. Long Term Debt : Net worth — — — — — —
3. Net worth : Equity 10.98 8.95 8.03 6.80 5.47 4.06
4. Net Fixed Assets : Net worth 0.59 0.68 0.73 0.73 0.49 0.63
E. SHAREHOLDER’S INTEREST
1. Book Value of Share (₹) (Net Worth/ No. of Equity shares) 10,976.05 8,948.91 8,030.35 6,799.49 5,470.98 4,059.62
2. Dividend paid per Share (₹) including proposed final 1,089.00 880.00 402.00 313.00 316.00 565.00
Dividend.

24
 DIRECTORS’ REPORT
To
The Shareholders,
Central Coalfields Limited,
Dear Shareholders,

On behalf of the Board of Directors, I have great pleasure in presenting to you the 67th Annual Report of your Company
along with the Audited Financial Statements for the year ended 31st March, 2023. The Audited Financial Statements,
report of the Statutory Auditors and Management’s reply thereon as well as comments of the Comptroller & Auditor
General of India on the audited Accounts are annexed to this report.

1. FINANCIAL PERFORMANCE
The financial results of your Company for the FY 2022-23, as compared to FY 2021-22, are as under:
(in ₹ Crore)
Sl. Particulars 2022-23 2021-22
i. Revenue from operations 16379.20 13486.42
ii. Other Income 918.23 333.69
iii. Total Revenue 17297.43 13820.11
iv. Expenses excluding depreciation, interest & Tax 12795.42 10996.06
v. Profit before depreciation, interest 4502.01 2824.05
Vi Depreciation / Amortization / Impairment 682.96 647.55
vii. Interest 75.44 81.77
viii. Profit before Tax 3743.61 2094.73
ix. Tax Expense 991.94 397.81
x. Net Profit after Tax 2751.67 1696.92
xi. Other comprehensive income 237.32 (68.68)
Xii Tax on Other Comprehensive Income 59.73 (17.29)
xiii. Profit attributable to Owners of the Company 2929.26 1645.53

l Revenue from operation has increased by Total dividend for the FY 2022-23 is ₹ 1023.66 Cr. i.e. Rs
21.45%. 1089.00 per share on 94,00,000 equity shares of ₹ 1,000.00
each (previous year Rs 827.20 Cr. i.e. ₹ 880.00 per share on
l The Profit Before Tax (PBT) for year ended
94,00,000 equity shares of ₹ 1,000.00 each).
March’23 has increased by 78.72%.
l The Net Profit After Tax (PAT) for year ended 1.3 BORROWINGS
March’23 has increased by 62.16.%. The company has no borrowings from any government or
financial institution during the year.
1.2 DIVIDEND
The Board of Directors of your Company has paid ₹ 1.4 Transfer to Reserve
600.66 Cr as Interim Dividend (Previous year ₹ 404.20) & During the year 2022-23, a sum of ₹ 137.58 Crores
recommended Final Dividend of ₹ 423.00 Cr (Previous year equivalent to 5% of Profit After Tax (PAT) has been
₹ 423.00. Cr) subject to approval of members in the AGM. transferred to General Reserve.

25
2. OPERATIONAL PEFORMANCE
The Production and Productivity figures achieved by your Company during the year 2022-23 as compared to the
actuals of 2021-22 is as under:

% Growth over
2022-23 2021-22
last year
Particulars
Target Actual Actual

PRODUCTION
From OC (MT) 75.130 75.224 68.091 10.477
From UG (MT) 0.870 0.863 0.755 14.240
TOTAL (MT) 76.000 76.087 68.846 10.518
OBR (MM3) 126.000 106.581 100.066 6.511
Washed Coal (Coking)
Production (MT) 0.965 0.722 0.400 80.386
Dispatch (MT) 0.965 0.709 0.528 34.281
Washed Coal (Non-Coking)
Production (MT) 5.700 3.665 4.267 -14.113
Dispatch (MT) 5.700 3.691 4.213 -12.398
Washed Coal Power(Coking)
Producation(MT) 1.377 0.732 0.625 17.150
Dispatch(MT) 1.377 0.798 0.755 5.721
Productivity (OMS-Te)
OC 11.72 10.68 10.16
UG 0.84 2.13 1.17
OVERALL 10.20 10.22 9.37

26
3. CAPITAL EXPENDITURE
A. The Standalone capital expenditure during the year 2022-23 has been ₹2252.07 Crore compared to ₹1849.11
Crore in the previous year. The head-wise details of capital expenditure during the year 2022-23, are detailed
below:
(in ₹ Cr.)
Sl. Head of expenditure 2022-23 2021-22
i. Land 329.15 62.57
ii. Building 140.12 59.42
iii. Plant & Machinery 335.28 448.99
iv. Furniture & Fittings 6.75 3.54
v. Office Equipment 17.92 10.67
vi. Rail Corridor & Railway Siding 565.67 225.86

27
 vii. Vehicles 5.86 12.68
viii. Other Mining Infrastructure 311.73 144.84
ix. Software 11.34 11.29
Total 1723.82 979.87

Note- In addition to above, the company has paid Net Advances for Capital Expenditure of ₹ 528.25 Cr.
(Previous Year ₹ 869.24 Cr.). Total Capital Expenditure including Capital Advance for the FY 2022-23 is ₹ 2252.07
Cr. (Previous Year ₹ 1849.11 Cr.).
B. The Consolidated capital expenditure during the year 2022-23 has been ₹2443.19 Crore compared to ₹1863.30
Crore in the previous year. The head-wise details of capital expenditure during the year 2022-23, are detailed
below:

Sl. Head of expenditure 2022-23 2021-22

i. Land 329.15 62.57
ii. Building 140.12 59.42
iii. Plant & Machinery 335.28 448.99
iv. Furniture & Fittings 6.80 3.54
v. Office Equipment 18.00 10.67
vi. Rail Corridor & Railway Siding 734.30 233.93
vii. Vehicles 5.86 12.68
viii. Other Mining Infrastructure 311.73 144.84
ix. Software 11.34 11.29
Total 1892.58 987.94
Note- In addition to above, the company has paid Net Advances for Capital Expenditure of ₹ 550.61 Cr.
(Previous Year ₹ 875.36 Cr.). Total Capital Expenditure including Capital Advance for the FY 2022-23 is ₹ 2443.19
Cr. (Previous Year ₹ 1863.30 Cr.).

4. CONTRIBUTION TO EXCHEQUER
The contribution to the State/Central Exchequer during the year 2022-23 vis-à-vis 2021-22 is detailed below:
Sl. Particulars 2022-23 2021-22
i. Royalty on Coal 2102.58 1657.38
ii. NMET (Central Fund) 45.31 35.43
iii. DMF (State Fund) 625.03 493.79
iv. Sales Tax / VAT - 1.17
v. Income Tax 761.27 362.18
vi. Dividend Tax - -
vii. Service Tax 0.14 -
viii. Central Excise on Coal -
ix. Goods & Service Tax
IGST 0.02 0.02
CGST 316.13 266.02
SGST 316.13 266.02

28
 GST Compensation Cess 3011.06 2925.79
x. Transit Fees 414.14 460.60
xi. Covid Cess 71.66 67.65
xii. Others 24.73 31.49
TOTAL 7688.20 6567.54

5. CAPITAL STRUCTURE 2. Washed coal production from coking coal washeries is

During the year under report, the Authorized Share 7.22 lakh tonne which is 80% more than FY 2021-22.
Capital and the Paid-up Share Capital of your 3. Yield of washed coking coal in coking coal washeries
Company remained unchanged viz. ₹ 1100.00 Cr. is 43.5% as against 33% in FY 2021-22.
and ₹940.00 Cr. respectively. The net worth of the 4. Dispatch of washed coking coal from coking coal
Company as on 31st March 2023 is ₹ 10317.49 Cr washeries is 7.1 lakh tonne which is 34% more than
(Standalone). compared to ₹ 8411.98 Cr. (Standalone) FY 2021-22.
as on 31st March 2022.
Achievements on setting up of new coking coal
6. WASHERY PERFORMANCE: washeries:
Apart from production and marketing of raw coal, With an objective to contribute to the ‘Mission Coking
CCL is also in the business of washing of coking Coal’ of the Government of India, CCL has floated Tenders
coal and non-coking coal. There are four coking in 2022-23 for setting up of five new coking coal washeries
coal washeries and one washery for washing/ on BOO concept. These include- New Rajrappa (3MTY),
beneficiation of non-coking coal. CCL Washeries Dhori (3MTY), New Sawang (1.5 MTY), Basantpur Tapin
have contributed 534 Cr. towards overall profit in (4MTY), and New Kathara (3MTY). Out of these, tenders
have been finalized and Letter of Intimation placed in
the financial year 2022-23.
respect of New Rajrappa and Dhori.
Operational performance of coking coal washeries in
7. OFFTAKE
FY 2022-23:
The total Offtake of Raw Coal during 2022-23 was 75.02
1. Raw coal feed to coking coal washeries is 16.58 lakh
Million Tones. The mode-wise details of off-takecompared
tonne which is 37% more than FY 2021-22.
to that of last year is as under:
(Figs. in Million Tonnes)

Mode 2022-23 2021-22 Growth over last year

Rail 43.92 48.92 -10.22%

Road 25.74 17.38 48.16%

Feed to Washery 5.36 5.51 -2.72%

Total Offtake 75.02 71.81 4.48%

The total dispatch during 2022-23 was 75.49 Million Tonnes. Sector-wise dispatch of coal and its different by-products
during the year 2022-23 are given below:

29
 (Fig in million tonnes)

Washed Coal Non- Coking

Sector Raw Coal Clean Coal Slurry Rejects Total
Power Washed Coal

Power 60.89 0.00 0.07 3.60 0.00 0.01 64.56

Steel 0.00 0.70 0.00 0.00 0.00 0.00 0.70

Steel CPP 0.32 0.00 0.73 0.01 0.00 0.00 1.06

Fertilizer 0.11 0.00 0.00 0.00 0.00 0.00 0.11

Others* 8.34 0.01 0.00 0.08 0.49 0.14 9.06

Total 69.66 0.71 0.80 3.69 0.49 0.15 75.49

* Others include Spot e-auction, SpongeIron, CPP, State Agencies, CPSU etc.

30
8. COAL STOCK
The stock of Raw Coal* as on 31st March 2023 stood at 8.585 Million Tones as against 7.521 Million Tonnes as on
31.03.2022.
(* Raw Coal stock at all producing units, washeries and coke plant)

9. TURNOVER AND SALES REALIZATION

During the year 2022-23, the Gross Sales Turnover of the Company was ₹23,930.83 Crores and the Sales Realisation
was ₹25,309.09 Crores (including advance received from customers). The sector wise position of Debtors (Gross) as
on 31st Mar’2023 is given below:
(Figs. in ₹Crore)
Sector As on As on
31.03.2023 31.03.2022
Power 2,865.97 2,116.31
Steel 652.78 813.25
Others 40.33 40.33
Total 3559.08 2,969.89

10. POPULATION AND PERFORMANCE OF HEMM:

The population of HEMM's in mechanized opencast mines of CCL as on 31.03.2023 against that of 31.03.2022 is
given below:

Population as on
HEMM 31.03.2023 31.03.2022
Not Surveyed Provisionally Total Not Surveyed Provisionally Total
Off Surveyed Off Off Surveyed Off
Shovel 65 34 99 72 34 106
Dumper 231 106 337 292 88 380
Dozer 176 02 178 180 04 184
Drill 95 13 108 104 14 118
TOTAL 567 155 722 648 140 788

Note: - The HEMM population given during previous years was excluding the provisionally surveyed off machines. Now, from
this year onwards the HEMM population is given for machines not surveyed off as well as machines provisionally surveyed off with
population during last year in similar fashion.

%Availability %Utilization
HEMM Actual Actual
Norms Norms
22-23 21-22 22-23 21-22
Shovel 80 83.3 80.2 58 50.2 45.0
Dumper 67 80.6 78.0 50 41.1 41.4
Dozer 70 81.3 79.8 45 15.0 14.9
Drill 78 90.1 88.7 40 21.2 20.8

31
11. SYSTEM CAPACITY UTILISATION:
Achievement of Production by OC mines
Total System Capacity for % Capacity Utilization
(2022-23)
2022-23 assessed as on
01.04.22 Coal OBR Composite
(MM3) 2022-23 2021-22
(MT) (MM3) (MM3)
189.69 75.225 106.581 154.495 81.4 71.9

12. COAL MARKETING

12.1 Demand Satisfaction as per AAP

(Fig. in Million Tonnes)
Demand Dispatch % Demand Dispatch % %
Sector (AAP) Satisfaction (AAP) Satisfaction Growth over
2021-22 2021-22 2021-22 last year
2022-23 2022-23 2022-23
Steel (Incl.
1.50 1.77 118.00% 1.50 1.48 98.47% 19.84%
Steel CPP)
Power 77.08 64.56 83.75% 62.00 59.17 95.44% 9.10%
Fertilizer 0.21 0.11 52.86% 0.15 0.12 76.67% -3.48%
Others 16.35 9.05 55.38% 16.35 11.28 68.99% -19.73%
Total 84.29 75.49 89.56% 80.00 72.04 90.05% 4.79%

12.2 Wagon Loading

The coalfield wise wagon loading position for the year 2022-23 & 2021-22 is given below:
(Fig. in Rakes/Day)
% Growth over last
Railway Fields 2022-23 2021-22
year
South Karanpura 5.74 4.77 20%
North Karanpura 26.04 27.36 -5%
Sub Total Karanpura 31.78 32.13 -1%
Jharia 6.71 8.1 -17%
Total E.C.Railway 38.49 40.23 -4%
Giridih 0.06 0.07 -18%
Total Eastern Railway 0.06 0.07 -18%
Ranchi 0.67 0.88 -24%
Total S.E.Railway 0.67 0.88 -24%
Total CCL 39.22 41.18 -5%

32
12.3 e-Auction of Coal
The performance of Spot e-Auction's during the period 2022-23 is as under:
Spot Offered Qty (Million Booked Qty % gain overReserve
Period e-AuctionScheme Tones) (MillionTones) Price
Rail 0 0 NA
Road 4.72 4.72 191%
2022-23 Slurry 0.49 0.49 93.16%
Rejects 0.34 0.34 249.98%
Total 5.55 5.55 182.39%

13. STATUS OF PROJECT IMPLEMENTATION

As on 31.03.2023, there are 25 ongoing and 21 completed running mining projects in CCL with sanctioned capacity
of 227.86 MT. The sanctioned capital and sanctioned capacity of ongoing projects of CCL are Rs 27425.84 crores
and 199.42 MT respectively. The sanctioned capital and sanctioned capacity of running completed projects of CCL
are Rs 1620.35 crores and 28.44 MT and respectively.
Details of total 21 nos of running completed mining projects of CCL

Sanctioned
Sanctioned
Projects Number Capital
Capacity (MTY)
(Rs Crs)
Above Rs 150 Crs 4 954.66 11.75
Between ₹150 Crs to ₹50 Crs 5 460.37 9.15
Between ₹50 Crs to ₹20 Crs 2 56.52 1.45
Between ₹20 Crs to ₹2 Crs 10 148.794 6.09
TOTAL 21 1620.35 28.44
Details of total 25 nos of Ongoing mining projects of CCL

Sanctioned
Sanctioned
Projects Number Capital
Capacity (MTY)
(Rs crores)
Above Rs 150 Cr 20 27287.52 196.21
Between ₹150 Cr to ₹50 Cr. NIL NIL NIL
Between ₹50 Cr to ₹20 Cr. 2 95.31 1.8
Between ₹20 Cr to ₹2 Cr. 3 43.01 1.41
TOTAL 25 27425.84 199.42

Out of 25 ongoing projects, Hurilong UGP could not be started due to non-grant of FC & EC respectively. Out of balance
24 projects 17 projects are on schedule and other 7 projects are delayed due to problems which are broadly classified
as under:
(a) Authentication of land.
(b) Forestry Clearance.
(c) Environmental clearance.
(d) Coal Evacuation problem.
(e) R&R issues
(f ) Safety reasons

33
Projects approved during the FY 2022-23:
Sl No Projects Sanctioned Sanctioned Capital(Rs Crs) Date of Approval
Capacity(MTY)
01 Sawang- Pipradih OCP 2 363.32 515th CCL Board
Meeting on 14.05.22.
02 Topa OCP 5.25 Total capital sanctioned ₹ 516th CCL Board Meeting
1003.30 Crore for placing held on 04.07.2022.
before ESC of CIL and CIL
Boardfor approval.

03 Argada OCP 4 Total Capital Rs 656.28 crores 522nd CCL Board Meeting
for placing before ESC of CIL held on 23.11.2022.
and CIL Board for approval

Projects completed/commissioned in FY 2022-23

Sanctioned Capacity Sanctioned Capital
SI Projects Date of Completion
(MTY) (Rs Crs)
NIL

Projects Started Production in FY 2022-23

Sanctioned Capacity Sanctioned Capital
SI Projects Producation Start
(MTY) (Rs Crs)
1 Sayal D OCP 1 48.35 Strated Producation in FY 22-23

Our company’s production level in FY 2022-23 is as follows:

Group 2022-23 MT
Existing mines & completed projects 13.55
On-going projects 62.54
Total 76.09

34
14. RAILWAY INFRASTRUCTRURE 1. Ashoka Railway Siding
A. Tripling work of Tori–Shivpur rail line section– 2. Sanghmitra Railway Siding
Subsequent to commissioning of double rail line at 3. Magadh Railway Siding (Phase II)
a cost of – ₹2692 Crores, third rail line work has been 4. Amrapali Railway Siding (Phase II) connected
undertaken through EC Railway at an additional cost for Chandragupta OCP
of Rs. 894 crores. Work of third rail line is in progress
and nearly 65 % work has been completed and 5. Construction of new lines/modification of
complete rail line is expected to be commissioned existing rail lines at KDH Railway Siding for
by Dec 2023. provisioning of RLS
Inflated Mileage @70% has been approved by 6. Construction of new lines/modification of
Railway towards compensation to CCL for the existing rail lines at Karo Railway Siding for
capital invested in this Rail line. The first installment provisioning of RLS
is expected to be started soon. G. Approval of Detailed Project Report (DPR)
B. Shivpur–Kathotia new BG single rail line- obtained from EC Railway for-
(Estimated cost–Rs 1799.64 Crs) a) Construction of rail infrastructure from Danea
The work of Shivpur – Kathotia new BG Rail Line has Railway station upto Kedla Washery for Kotre-
been taken up through M/s IRCON International Basantpur-Pachmo (KBP) coal Block (5MTY)
Limited on behalf of the Joint Venture (JV) Company b) Construction of new lines/modification of
of CCL, IRCON & Govt. of Jharkhand i.e. “Jharkhand existing rail lines at Konar Railway Siding for
Central Railway Limited (JCRL)”. Equity/Debt ratio – provisioning of RLS.
30:70
15. CRUSHING OF COAL
An amount of Rs. 1259.75 Crores is to be obtained
by JCRL as a loan for construction of this rail line As per directive of Ministry of Coal, only -100 mm crushed
project. coal is to be dispatched to the consumers. For crushing
of mined coal to the desired size, 27 nos. of departmental
Financial Closure has been achieved by JCRL. A crushers are installed in different Areas of CCL. Further, as
consortium of 4 banks led by Punjab National Bank per requirement, different areas are hiring mobile crushers
(PNB) is providing the bank loan to JCRL. The first as and when needed to crush coal to -100 mm size. Also,
disbursement of Bank loan has been done. different Coal Handling Plants are being constructed at
Work is under progress and the completion timeline CCL for transportation of -100 mm Coal through Conveyor
is May 2025. Physical progress is nearly 20%. belt from Mines to Rail wagons. This system is environment
C. Construction of North Urimari Railway Siding- friendly and will eliminate requirement of transportation
The Rail line work (approx. 10 Km length) is under of Coal through Trucks/ tippers etc.
progress by M/s RITES Ltd. Railway Line up to Wharf Following Coal Handling Plants are under construction:
wall location has been completed and loco trial i) North Urimari Coal Handling Plant (7.5 Mtpa),
run has been done for commissioning of Wharf being constructed by M/s Larsen & Toubro Limited
wall siding. The entire rail line is expected to be vide LOA/Work Order no. GM(E&M)/CHP/20/2815-
commissioned by Dec 2023. 25 dated 31.12.2020, for a contract amount of
D. Construction of Magadh Railway Siding ₹ 291,61,68,000.00 only (Including Escalation & GST).
(Phase I)- Work was awarded to M/s RITES Ltd. at Plant to be commissioned by Dec’23.
a cost of ₹391.01 Crores. Construction work is in ii) Konar Coal Handling Plant (5 Mtpa), being
progress by M/s RITES Ltd in Railway land portion constructed by M/s Hamtek Technologies
and in some other acquired land portions. Pvt. Ltd vide LOA/Work Order no. GM(E&M)/
E. Construction of Amrapali Railway Siding CHP(KONAR)/22/658 dated 17.03.2022, for a contract
(Phase I)- amount of ₹ 250,15,52,800.00 only (Including GST).
Work was awarded to M/s RITES Ltd. at a cost of iii) KDH-Purnadih Coal Handling Plant (7.5 Mtpa),
₹413.48 Crores. Construction work is in progress in being constructed by M/s Madhucon Projects
Railway land portion. Limited vide LOA/Work Order no. GM(E&M)/CHP
F. PMC work awarded for construction of following work-order/23/1402-15(H) dated 31.03.2023, for a
rail lines- contract amount of ₹ 442,73,06,429 only (Including
GST).

35
Following Coal Handling Plants under CCL are under d) In FY 2022-23, order placed for 16,301 nos of
approval/ tendering and the work order for construction LED lights of different ratings. Order placed for
is expected to be issued in the F.Y. 2023-24: 5863 nos of Super fans. Order placed for 539
a) Karo CHP (7 Mtpa) nos of Energy Efficient ACs. Order placed for
226 nos of Auto timers. Order placed for 60 nos
b) Amrapali CHP (25 Mtpa)
of efficient water heaters. Tendering done for
c) Magadh CHP (51 Mtpa) 20 Nos., 7360 KVAR capacity Capacitor Banks.
d) Ashok Piparwar CHP (20 Mtpa) Order placed for hiring of 16 nos of Electric
e) Chandragupta CHP (15 Mtpa) Vehicles for CCL HQ and 06 Nos at Piparwar
area, all 22 Nos. EV are presently running.
f ) Sanghmitra CHP (20 Mtpa)
e) In FY 2022-23, 190 nos. of Lighting Towers, each
g) Rohini-Karkatta CHP (10 Mtpa)
fitted with 8*300 W LED fittings, have been
h) Kotre Basantpur Panchmo CHP (5 Mtpa) installed in different Areas of CCL.
i) Kalyani CHP (2 Mtpa)
17. CONSUMER SATISFACTION
16. SOLAR PROJECTS OF CCL: Keeping in view the prime objective of achieving coal
Total installed capacity (in MWp) of Roof Top Solar consumer satisfaction, CCL has taken effective measures
Power Plant up to March’22 = 1.25 MWp for supply of crushed & good quality coal to consumers.
The measures taken are as below:
Solar Energy data for FY 2022-23:
SI. Description  CCL has a full-fledged Quality Management
No. department with well-trained officials & staff at area
1. Roof Top Solar Power Plant NIL level & headquarter.
commissioned  There are 11 well equipped laboratories across CCL
2. Awarded Land Mounted Solar 20 MW (₹ 142 along with adequate infrastructure for sampling &
power project Crores) analysis of coal despatches.
3. Total Solar Power Plants for 19.77 MW  In order to enhance consumer satisfaction and
which Feasibility Report maintaining transparency, CSIRCIMFR, Quality
approved Council of India and M/s. SGS India P. Ltd have been
4. Solar Energy generated from 8,20,000 KWh empaneled as agencies for third party sampling
Roof top Solar Plants in KWh and analysis (TPSA) for coal despatches at loading
ends.
Reduction in power consumption  In addition to above TPSAs, new agency, namely
a CCL receives power through DVC & JBVNL for its M/s. Mitra S K P. Ltd has been empaneled by
areas through different Supply Points. During Power Finance Corporation and the same agency
2021-22, Power consumption of CCL stood at has commenced its operations in 2022-23 across
669.60 million KWH, while in 2022-23, power different areas of CCL.
consumption by CCL stood DVC-638.95 MU  Different programmes such as webinars on Coal
& JBVNL 21.01 MU Million KWH Total 659.96 Quality Management, workshops and trainings
were organized for manpower engaged in quality
MU, hence there has been 1.44% reduction in
management, production and despatch of coal.
energy consumption in the year 2022-23 in
comparison to 2021-22.  About 47.93 MMT of coal has been covered under
third party sampling & analysis arrangement
b) In 2022-23, CCL got a load factor rebate of ₹ during the year. There is continual improvement in
3.07 Crores & prompt payment rebate of ₹ 6.51 materialization of coal grades in 2022-23 compared
Crore, Total ₹ 9.58 Cr. to last years.
c) Power factor in almost all areas of CCL are  There is an effective grievance redressal system for
maintained above 0.90. It is further being consumer complaints. The grievances of consumers
improved by installing more capacitor banks. are inquired and corrective actions are taken
Total 6500 KVAR capacity Capacitor banks were effectively.
installed during 2022-23.  A Standard Operating Procedure (SOP) is adopted

36
 for ensuring supply of (-) 100mm sized coal to the 7. For the FY 2022-23, Electrical audit &
power sector consumers which is made available on benchmarking of 5 mines where energy
the official website of CCL. For active participation of consumption was on higher side were
consumers, feedback registers, complaint registers undertaken in coordination with CMPDIL for
are maintained at railway sidings in CCL. improvement measures in energy savings.
Additionally, Electrical audit and benchmarking
 Consumers are also encouraged for witnessing the
of North Urimari (Birsa) Project was also
loading of coal.
undertaken in coordination with CMPDIL for
 Quality is a key aspect of our business and manpower star rating purpose of the mine.
deployed in Coal Quality Monitoring, production,
8.  Awareness Programme on Energy conservation
despatches etc. are sensitized so that coal of desired
measures and to enhance knowledge was
quality and size will be delivered to consumers.
organized by OMC in different Areas of CCL.
 Standard Operating Procedure (SOP) for quality
9. Replacement of existing Mechanical Diesel
management of dispatched coal is under effective
Dispensing Units (DDUs) with Electronic DDUs
implementation. It is also made available on the
was initiated and completed in NK, Piparwar &
official website of CCL.
Rajhara Area of CCL in coordination with IOCL.
Replacement of remaining viable units is under
18. ACHIEVEMENT OF COAL CONDITIONING AND
MONITORING CELL (CCMC) progress and likely to be completed in FY23-24.

1. Benchmarking of Specific Diesel Consumption 19. ELECTRONICS & TELECOMMUNICATION

of 30 Opencast Projects of CCL in coordination
The future of technology advancements is likely
with CMPDIL for FY 2022-23 was done &
to depend on the developments in the electronics
their recommendations were circulated for
and telecommunication field. Electronics and
implementation to all concerned for fuel
telecommunication are the two primary pillars of our
conservation.
society these days and the trend is expected to continue in
2. SDC achieved during FY 2022-23 was the coming years. These make communication possible on
1.25 ltr/cum and thus, we have achieved the widespread scale in our mining organization, whether
an improvement of 6.01 % over CMPDIL it is through the phone or the internet, through airwaves
Benchmark of 1.33 ltr/cum. or cables, through wires or wirelessly. E&T department
3. Total power consumption in CCL during FY of CCL has created the infrastructure that allows data in
2022-23 was 663.96 MKWH, whereas in FY words, voice, audio, or video to be sent anywhere across
2021-22 it was 669.59 MKWH which shows an CCL command Area or even beyond.
improvement of 0.84 % in FY 2022-23. Many revolutionizing projects have been undertaken
4. Three number TAN (Total Acid Number), TBN by the E&T department of CCL which facilitate daily
(Total Base Number) and Moisture Content communication, enable data transfer, bring our widely
Analyzer Instruments have been commissioned distributed areas closer and make the coal dispatch and
at three RR Shops, namely, Tapin North, Kathara transportation transparent. Some of the achievements
and Dakra for analysis of different types of and exemplary work done by E&T department are as
used oil. Also, one number Thermal Imager under: -
was commissioned at CRS, Barkakana for 1. Wide Area Network using MPLS-VPN technology
capturing the temperature variation in rotating
CCL is presently operating with 13 Areas along with its
assemblies/sub-assemblies.
centralized units at Gandhinagar Hospital- Ranchi, Central
5. Annual Energy Audit Report for FY 2021-22 was Hospital- Ramgarh, Mines Rescue Station-Ramgarh,
compiled and circulated to all concerned for Central Store and Central Repair Shop in Barkakana
taking further improvement measures. and HQ in Ranchi. Further each Area has its own widely
distributed Regional Store, Project Offices, Mining Units,
6. Top loading facility for Diesel Bowsers for
Weighbridges, Magazines, Diesel Dispensing Units,
speedy and digitally controlled filling of HSD
Dispensaries, etc. All these locations have been provided
has been constructed/commissioned by the Oil
with dual connectivity with redundancy with the help of 2
Marketing Companies (OMC) at 11 Projects as
WANs from two different Service Providers: -
per PESO guidelines.

37
i. RailTel WAN (Primary MPLS-VPN based WAN being used for the distribution in LAN at CCL HQ as well
network for ERP): M/s RailTel has provided the as for GPS/GPRS and RFID server of M/s Orange Business
high speed MPLS-VPN bandwidth connectivity Services and Video Conferencing System. A separate 30
(500 Mbps link at 2 locations, 100 Mbps link at 1 Mbps ILL had been procured for redundancy at CCL HQ.
location, 40 Mbps link at 18 locations, 10 Mbps
3. Local Area Network for all Areas of CCL
link at 50 locations, 4 Mbps link at 40 locations
and 2 Mbps link for 336 locations) for CCL on W.O. for Establishment of Local Area Network in all Areas
rental basis for 5 years. 381 sites out of total of CCL on rental mode for 5 years was issued on 06.11.2021
447 sites were handed over to M/s RailTel, all of to M/s RailTel. This project is serving as upgradation and
which have been commissioned. This network replacement for the LAN of M/s TCIL. It includes provision
serves as upgradation and replacement for of 2338 no. of LAN points along with all associated
the WAN of M/s TCIL, as well as the Primary accessories, spread across all Areas of CCL, covering all the
backbone connectivity for ERP implementation GM Offices, PO offices, Account offices, Regional Stores,
in CCL. Central Store, Repair Shop, Mines Rescue Station and all
other important locations of CCL.
ii. BSNL WAN (Secondary MPLS-VPN based WAN
network for ERP): The network originally 4. Networking Infrastructure for Hospital
comprised of 279 links on 5 years rental basis. management System
Further additional 168 links were added to W.O. for Supply, Installation and Commissioning
the network this year to connect more remote of Networking Infrastructure Devices for Hospital
locations which makes up the bandwidth Management System at four Central Hospitals of CCL
distribution as : 500 Mbps links at 2 locations was issued on 18.11. 2021 through Custom bid on GeM.
for DC and DRC, 100 Mbps link at CCL HQ, 40 Installation of networking infrastructure at the four
Mbps links at 18 locations comprising of Area Central Hospitals of CCL, i.e. Gandhinagar Hospital at
GM Offices, 4 Central Hospitals, Central Store Ranchi and Central Hospitals at Ramgarh, Dhori and NK
and Central Repair Shop, 10 Mbps links at 50 has been completed in May 2022 and the LAN is fully
locations like PO offices, 4 Mbps links at 40 operational at these 4 hospitals. This network has enabled
locations like Regional Store, Area Hospital, the implementation of HMS in these central hospitals of
Workshop and 2 Mbps links for 336 locations CCL.
like Weighbridges, Railway Sidings, substations
etc. 431 sites out of total 447 sites were handed 5. CUG and Bulk messaging services for CCL
over to M/s BSNL, out of which 422 ready sites command Areas
have been commissioned. E-office connectivity Work Order for providing mobile connectivity under
across CCL command areas has been provided Closed User Group (CUG) facility at various locations
over this network. Also, Real-time data-transfer under CCL Command Areas for 3 years was issued on
from Weighbridges to Central server located at 25.01.2022 with total 4228 connections with unlimited
CCL HQ is also accomplished using this MPLS- calling facility, minimum 1 GB data per day and 500 (Local
VPN based network. + STD) SMS per month for all executives and approved
2. Centralized Internet Leased Line Facility supervisory staff of CCL. The project has provided central
repository of contact nos. and free voice and data
CCL had earlier provided different bandwidth of Internet communication amongst personnel of CCL. Also 10 Lakh
Leased Lines at CCL HQ and all Areas through different Bulk SMS were procured as a service from GeM, which are
ISPs. W.O. vide Ref. no. CCL(HQ)/E&T/WO/1Gbps_ILL/2021- used for disbursal of various crucial information related to
22/126 dated 26.02.2022 was issued to M/s BSNL for different departments in the form of SMS to employees/
provision of 1 Gbps uncompressed (1:1) ILL with minimum other stakeholders.
128 nos. public I.P.s along with distribution over BSNL MPLS
VPN locations of CCL for centralized internet connectivity 6. Digital Walkie Talkies, Transceivers and Repeater
to HQ and Areas of CCL. The project was commissioned Sets for Magadh & Amrapali Projects
on 01.05.2022 and has provided centralized internet W.O. for supply of Digital Walkie-Talkies (100 nos.),
connectivity across entire CCL command Area which is

38
Transceivers (18 nos.) and Repeater Sets (4 nos.) with 3 points, rail weighbridges, Sidings and Coal heaps/ dumps
years warranty each was issued on 19.02.2022 via GeM. and other sensitive places is also being done.
Delivery and installation of materials completed at
Around 1656 CCTV Cameras are installed at all important
Magadh & Amrapali Projects of CCL subsequent to receipt
locations of CCL Command Area out of which 1234
of WPC Decision to Grant license (DL). These are being
cameras are connected to NVR/ Area Network, rest
used for many vital operations like blasting, operational
function as standalone. Arrangements for networking
work of CISF, Safety, Coal Washery operations and other
of all the Cameras of an Area to Area Control room have
Plant & Maintenance jobs at Magadh & Amrapali, Mega
been made for Centralized monitoring at Area HQ, CCL
Projects of CCL. It is to be noted that Digital VHF system
HQ and CIL HQ also. Live view of CCTV cameras of five
and its Wireless Operating License issued by WPC has
major mines of CCL identified by CIL has also been made
been achieved for the first time in history of CCL.
available at CIL HQ.
7. Broadband to high speed FTTH upgradation
10. Weighbridge Operations and maintenance
The broadband connections provided to all HODs at CCL
AMC of Rail Weighbridges, Software installation and
HQ as well as other vital offices have been upgraded to
upgradation of Rail WBs for FOIS compliance have been
higher speed FTTH connections to ensure redundant
done by E&T Dept. Arrangement for upgradation of Rail
internet connectivity other than LAN.
WBs for FOIS compliance and connectivity of Rail WBs for
8. VC System data transfer to FOIS servers were made. FOIS integration
has been completed for 23 Rail WBs of CCL. Weighbridge
Video Conferencing System has been installed and is
data transfer and its integration with SAP has also been
operational at all Areas of CCL, Central Repair Shop
accomplished by the department.
Barkakana and CCL HQ, Ranchi. The Master Control Unit
(MCU) is installed at CCL HQ, Ranchi along with central 11. GPS/GPRS based Vehicle Tracking System and
streaming and recording Server. All remote locations RFID with CCTV based Weighing Control and
are equipped with 01 no. of Video Endpoint provided Monitoring System across CCL Command areas
with a Public IP, UPS and a display unit. This system CCL has installed integrated systems through M/s Orange
works on internet as well as WAN and we have provision Business Services India Technology Pvt. Ltd., Mumbai
to connect MCU of Video Conferencing system of CIL which provides tracking of coal carrying Trucks, Dumpers
Kolkata and any VC system having a Public IP. Further & Pvt. Tippers, RFID with CCTV based weighing control
the VC System has been provided in the office of all and monitoring system for 112 Road Weighbridges,
functional Directors, CVO’s Chamber, CMD’s Residential computerization of 52 Project Offices and control rooms
Office and Gandhinagar Hospital. Along with the above in 11 Area Office for monitoring on 24x7 basis with one
stated VC system with public IP provision, E&T Dept. has central control room in CCL (HQ), Ranchi.
also facilitated app/web-based VC with generation of link As all Areas have sufficient Internet Lease Line Bandwidth,
facility in the wake of Covid restrictions. This VC system CCL has successfully arranged to bring the live CCTV
has facilitated conduct of meetings with MoC, CIL HQ, footage of 112 CCTV Cameras from all Road weighbridges
Area GMs, and Chief Medical Officer, etc. which enabled at CCL HQ. The implementation of this system has helped
the uninterrupted coordination along with administrative in improving adherence to rules of driving by truck drivers
and management decisions as well as conduct of multiple and avoid accidents arising out of rash driving, over-
interviews in DPC which saved a huge sum of public speeding and overloading of trucks.
money from being expended on travel and lodging
Vehicle Tracking System has also been implemented at
expenses of officers. Magadh & Amrapali projects in which 1300 GPS devices
9. CCTV surveillance at Vulnerable points of CCL have been deployed presently. At these Areas, 800 no. of
Command Areas devices have been installed. Remaining 500 no. of GPS
devices are running stock and will be installed as & when
CCL has installed CCTV surveillance systems in all areas new transportation contracts are awarded. RFID with
of CCL as per the directive of MOC and CVO, CIL in order Boom-barrier based system has also been installed at
to avoid chances of any theft / pilferage of coal. CCTV check-posts in Amrapali and Chandragupta Area.
surveillance of stores, explosive magazine, entry exit

39
20. SAFETY concerned personnel.
In CCL, mine safety is of prime concern for all and hence ii. Formulation and compliance of Standard Operating
Procedures (SOPs) based on Job Hazard Analysis.
all activities have their focus to ensure ‘Zero Harm’ to
our resources. The Internal Safety Organization (ISO) iii. SMP is reviewed at periodic intervals and is an
oversees the safety of the mines of our company. ISO has ongoing process.
a multi-disciplinary team of experienced and technically CCL Safety Board Meeting:
competent executive which is headed by General
CCL Safety Board meeting is held regularly and is chaired by
Manager (Safety & Rescue). Director (tech.) (Oprn.), CCL or Director (Tech.) (P&P), CCL
and participants include the trade union representative,
Achievements: Area General Managers, HODs of CCL HQ, and ISO officials.
1. CCL achieved landmark in the field of safety by The trade union representatives along with the ISO nodal
receiving – officer inspect every mine of the area. The shortcomings
a) “Coal Minister’s Award” on Safety (2nd prize) on of every mine based on their inspection are discussed
18th August 2022 for FY 2021- 22. and Action taken by Mine Management to remove the
b) “Corporate Award on Safety” (2nd prize) on CIL’s shortcomings is put up before the members.
48th Foundation Day (1st Nov 2022).
Safety Drive
c) One Multi- Dimensional Simulator procured for
training and enhancing skills of operators. Safety drives conducted during FY 2022-23 are as follows:
d) One Gas Chromatograph procured and 1. Safety Drive on HEMM Maintenance and Safety
commissioned at RRRT, Churi, NK area.    Awareness in OC Mines from 22.04.2022 to
29.04.2022.
e) CCL procured 3 Nos. of fully equipped Rescue
vans for enhancing Rescue services. 2. Monsoon preparation from 01.06.2022 to 08.06.2022.
f ) In All India Rescue Competition held at Udaipur 3. Drilling & blasting in UG & OC mine, implementation
in November 2022, CCL received 3rd prize in of scientific study for mine geometry, coal and OB
Overall Best team, 1st prize in Rescue Relay race, dump management, SCAMP, system of roof bolting
3rd prize in Rescue and Recovery and 2nd prize & roof support in UG mines from 22.08.2022 to
in Special Contribution categories for dealing 03.09.2022.
Churi under-ground fire. 4. Safety System in U/G Mining Machines (SDL, LHD,
2. Mrs. Akanksha Kumari, Management Trainee UDM, CM, MUV, Quad/Twin Bolter, Shearer, Power
(Mining), Churi UG, NK Area became the First Rescue Supports, AFC etc.) & Safety systems in the Operation
Trained woman in India. & Maintenance of DL, Shovels (dept. and contractual)
in O/C Mining from 21.09.2022 TO 30.09.2022.
3. Under Women empowerment, two more female
Mining engineers, namely, Ms Sanyami Nidhi and Ms 5. Appraisal of the Status of “Safety Culture” in the
Anjali Atreyi have joined Churi Underground mines. Mines from 09.11.2022 to 18.11.2022.
4. In Churi Underground mine, Re-opening of W-10 6. Two days’ workshop on “Shutdown procedures and
panel which was sealed off due to fire at 57L drift Implementation of LOTO” in mines from 22.02.2023
was completed successfully on 30.07.2022. to 23.02.2023 for electricians and Electrical
Supervisors.
5. Training on First Aid was imparted to 707 persons at
the First Aid Training Centre of MRS Ramgarh. 7. Fire safety Audit of Opencast mines from 15.03.2023
to 28.03.2023.
Safety Management Plan:
Strengthening of Safety Committee
i. Safety Management Plan (SMP) for all the Opencast
and Underground mines framed considering all Safety Committee meetings are held in the mines which
the activities and the hazards associated with each is also attended by senior officials of the Area, CCL Safety
activity with the concerted efforts of DGMS officials, Board members and ISO officials. Wherever contractor(s)
Mine personnel associated with each activity and are engaged in mining operations, their representatives
the SIMTARS trained experts from ISO. Safe operating are also invited to enlighten them on safety matters.
procedures has been made and distributed to the For strengthening the role of Safety Committee, some

40
meetings have also been attended by CMD, CCL and • In CCL, there are 15 nos. of Surface Miners deployed
Director Technical (Operation), CCL through video for coal production. Surface Miner Mining is a
conferencing. complete blast free eco-friendly mining. Also, at
This is the Statutory and most effective platform where Churi underground mines, Continuous Miner has
participants give their valuable suggestions at grass root been deployed for winning of coal.
level. • Development of IT infrastructure: In CCL, modern
survey equipments like Electronic Total Stations and
Review meeting with Area Safety Officer
-3D Laser Scanner are used for mine surveying and
Every month, a review meeting with Area Safety Officers is monitoring. Beside these, GPS based vehicle tracking
held to discuss the safety status of all the mines of CCL. The system for coal transportation along with RFID
meeting is chaired by Director (T)(O), CCL and is attended system, boom barrier, CCTV camera for snapshot
by Area Safety Officer and ISO Officials. It establishes a and integration with existing weighbridge system
two-way communication system between headquarter are executed. A comprehensive CCTV surveillance
and areas and helps in resolving safety issues. system is also being executed. ERP and e-office are
Initiatives adopted for ensuring safety- already in operation.

CCL has pursued several measures in recent years along • Advanced Blasting System: In CCL, electronic
with the on-going safety related initiatives, apart from detonator is being used for controlled blasting in
compliance of statutory requirements for enhancing opencast mines to ensure proper fragmentation
safety standard in all projects. and minimum ground vibration near villages and
• Tripartite meeting on Safety was conducted at CCL townships.
HQ, Ranchi on 30.01.2023. • 36 nos. of mobile Mist type Sprinklers provided and
• 11 nos. of Bipartite and 11 nos. of Tripartite meetings 15 nos. of Trolley mounted Fog Canon procured.
were conducted in different Areas of CCL during
2022-23. Mock rehearsal
• Inter area Safety Audit of all opencast and In CCL, 148 nos. of Mock rehearsals were conducted in
underground mines for the year 2022-23 was 2022-23 at Open cast & Underground Mines to deal with
conducted by multi-disciplinary team from June to various emergent situation like, Fire in HEMM, drowning of
September 2022. work person, emission of CO2 near u/g Pumping Station,
• Safety talk is delivered regularly to keep the work water in-rush etc.
persons updated regarding their job safety as well as
of their surroundings and co-workers. Also, Personal Centralized Safety Information (CSIS) portal
Safety Counselling is done on regular basis. CSIS portal has been made operative where all the reports,
• Video Clips / Animation Films on various Mine Safety figures and data, viz. statutory manpower, statutory
Procedures, Dos & Don’ts related to operation and documents, training, e- inspection reports, accident/
Accident Analysis are being prepared for showing incidents etc. are uploaded by the mine manager. It is
and sharing amongst all employees. These video reviewed regularly by ISO officials to keep it updated and
clips or Animation films are being used widely more effective.
during training programmes organized at different
VTCs and at other establishments. This endeavor is Statutory Manpower
expected to enhance safety awareness amongst all
Recruitment of following Statutory Personnel is under
employees and to develop the best safety cultures
process -
at grass root level.
a. Mining Sirdar- 77
• For dust monitoring PM 10 Analyzer (25 nos.) have b. Dy. Surveyor- 20
been installed in sidings. Also, 14 nos. of CAAQMS c. Electrician (Non-Excv.) Cat-IV - 126
has been installed at different areas. d. Asstt. Foreman (Elect.) T&S Gr. C. – 107

41
Safety Performance the year under reference. 868 employees were added to
the existing manpower.
Particular April’21-Mar’22 April’22-Mar’23
Fatal Accident 2 1 Reduction :
Fatalities 2 1 No of employees
Manpower Reduction under
Serious Accident 2 2 the head (31.03.2023)
Serious Injuries 3 2
Retirement/ Superannuation 1153
Fatality Rate per 0.02 0.01
Million CuM. Death 373
Overall (OB + Coal) Inter Company transfer 147
(UG+OCP) Resignation 46
Fatality Rate per 0.08 0.04
Terminal/Dismissal 35
3 Lakh man shift
Overall VRS(GNH) 0
Serious Injury Rate 0.02 0.01 Medically Unfit 0
per million Cum. Others 0
Serious Injuries 0.12 0.08
Total Reduction 1754
Rate per 3 Lakh
man-shift Addition :
21. PERSONNEL MANAGEMENT & INDUSTRIAL No of
RELATIONS Manpower Addition under the head employees
21.1 Personnel Management (31.03.2022)
The manpower strength of the company as on 31.03.2023 Appointment under 9.3.0 331
was 34975 as against 35861on 31.03.2022. The category
Appointment of Land Loser 161
wise breakup of manpower strength as on 31.03.2023 vis-
Appt. under dependant of deceased
à-vis 31.03.2022 is given below:
executives 0
Category 31.03.2023 31.03.2022 Appt. under 9.4.0 0
Executives 2333 2285 Inter company transfer 182
Supervisory 3203 3255
Fresh-Recruitment 186
High Skilled/ Skilled 10740 11206
Re-instatement 8
Skilled/ Unskilled (TR) 14440 14910
Award Cases 0
Semi Skilled/ Unskilled
(PR) 199 215 Others (SFVRS) 0
Ministerial Staff 3694 3677 Total 868
Others 366 313 SC/ST/OBC/PwBD Representation :
Totals 34975 35861 The reservation rules/guidelines issued by the Govt.
of India in favour of SC/ST/OBC/PwBD candidates
are followed in CCL in recruitment and promotion as
applicable. The representation of such categories of
employees in total manpower as on 31/03/2023 is given
below: -
Category As on Representation As on Representation
31.03.2023 (%) 31.03.2022 (%)

SC 6968 19.92% 7037 19.44%

ST 5815 16.63% 6009 16.60%
During the year 2022-23, the overall reduction in OBC 9015 25.77% 9297 25.69%
manpower was to the tune of 886, while the number of
employees in the company came down by 1754 during PwBD 74 - 71 -

42
21.2 Recruitment Department  Knowledge Enhancement
• Special Recruitment Drive (SRD) has been  Skill Development
undertaken for filling up 330 Statutory Posts against In the domain of Knowledge Enhancement, the functional
04 designations (Mining Sirdar T&S Grd-C -77 posts, areas of management, imparting cross functional
Asst. Foreman (Elect.) T&S Grd-C – 107 posts, Dy. input to functional executives, general management
Surveyor (M) T&S Grd-C -20 posts and Electrician program for executives, induction and orientation
(Non-Excv.) Cat-IV- 126 posts). program for management trainees and newly recruited
executives, E-office & ERP training for executives and non-
• Central Coalfields Limited has entered into a executives, Awareness Programs for Standard Operating
MoU with EdCIL (PSU) for conducting CBT for Procedures, Finance for non-finance employees, Rescue
recruitment of 330 Statutory Posts. Advertisement & Safety Programs, Functional skill program for Personnel
has been published on 28.03.2023 and the Offer of Executives have been conducted at MTC, HRD, CCL.
Appointment is likely to be issued by June 2023.
• Offered appointment letter to 07 nos. of candidates
through direct recruitment {06 in Junior Overman
and 01 Asst. Foreman (Elect.)}
• Selected 04 nos. of departmental employees as
Accountant (T&S Grd-A).
• Employment Notice for Recruitment of 55 Medical
Executives (Sr. Medical Specialist {E-4}, Medical
Specialist {E-3} and Sr. Medical Officer {GDMO} {E-
3} was advertised, 710 applications were received
out of which 378 candidates were shortlisted for
interview. 114 candidates had appeared for the
interview. Recommendation of 103 successful
candidates was sent to CIL for declaration of result Training at MTC HRD CCL
and issuance of Appointment Letter. Skill Development for executives, frontline supervisors
and skill up gradation program for non-executives have
• OMR Machine is installed in Recruitment Department a constant place in the curriculum of MTC, HRD, CCL.
and evaluation of OMR Answer Sheets is done Programs like Hindi Workshop, Computer Awareness
through OMR Machine. Facility of OMR evaluation Programs, functional skill development programs for
is also extended to different Departments/Areas executives and non-executives have been conducted at
for the purpose of selection/DPC of departmental MTC, HRD, CCL; BTTI, Bhurkunda, and CETI, Barkakana.
candidates of CCL.
This department also look forward to imparting skill to
the stakeholders for developing employability skills.
22. HUMAN RESOURCE DEVELOPMENT
Along with the above, the executives and certain staff
Human Resource Development Department takes
have been sent to external institutes and organizations
initiative to equip practising managers, employees,
for training programs for specialized knowledge and skill
workers and contractual workers and stakeholders
enhancement throughout the year.
with the skill to synthesis the theory and practice. This
department carry forward the programme in functional In view of the above, HRD Department, CCL has been able
areas of management, imparts cross functional input to to chalk out these achievements during the year 2022-23
functional executives, general management programme which are as follows: -
for executives, induction and orientation programme for • CCL was the pioneer among all the subsidiaries
management trainers and newly recruited executives. of Coal India Limited to have started an ITI course
As far as training and development is concerned the HRD in the Electrician trade at BTTI, Bhurkunda and
Department, CCL lays stress in two core areas – continuing. At present 19 Students (Batch 2021-

43
 23) and Batch 2022-24 20 students are undergoing
the said course at BTTI, Bhurkunda, Apart from that
BTTI, Bhukunda also recognized as Basic Training
Providers status under apprentice Act. Besides
this various skill updating training incorporated at
various units/ projects of CCL for undergoing their
practical training.

OEM Training for HEMM Operators

• Apart from that a Training simulator for the purpose
of imparting HEMM training installed at Central
excavation training in January’2023
• Apart the above, CCL also provides opportunity to
the students from various institutes & colleges of
the country pursuing Engineering/MBA/BBA//MCA/
BCA and other professional courses to undergo
Internship/ Vocational Training free of cost. During
the year 2022-23 a total of 2192 non-Mining & 509
for exclusively mining students were provided
with such opportunity at the corporate HQ, Areas,
Projects and Units of CCL.
• Various Skill Development programs for 318
Apprentice Training as per Apprentices Act
employees (All inclusive) have also been conducted • During the year 2022-23, CCL had to engage
at BTTI, Bhurkunda, like General Awareness & Safety Apprentice @ 2.69% of its total manpower which
Programs, Career Growth Programs, Explosive was inclusive of the contractual workmen. This task
was also an MoU between Coal India and Central
Handling Programs and Monsoon Preparatory Coalfields Limited. The HRD Department has
ProgramsVarious achieved the target of engaging 2.5% apprentice
successfully within stipulated time, the details of
Basic Training of HEMM which is appended below :
Sl. Total Manpower of CCL No. of Apprentices
Various Basic Training Programs for HEMM operators are
No. including Contractual Engaged in 2022-23
also conducted for Dumper, Dozer, Shovel, Drill, Pay loader, Workmen (As on 31/03/2023)
Motor Grader Operators. For Basic Training, the nominated 01 42995 1160
employees are initially taken through theoretical classes As on 31/03/2023
at CETI, Barkakana and thereafter on the job training NATS: 525
followed by examination to assess their suitability to BTP: 75
NAPS: 560
operate HEMMs in future. Apart from the above training
Successful BTP
for OEMs and Basic Operators courses, various refresher
Basic Training Provider (BTP) has been started in CCL
programs are organized for our experienced employees in August’ 2022. CCL is the first subsidiary to register as
wherein they are given exposure on various technological BTP centre is an entity who has adequate/necessary
advancement/ safety features by OEM/ OES including in facilities for a trade and providing basic training to fresher
apprentices, who otherwise do not have any formal
house faculties of CETI/ CRS, Barkakana. CETI, Barkakana education and/or training in related trades and belong to
has trained 425 participants in the year 2022-23. socially and economically backward classes is engaged by
an establishment.

44
BTP* Fresher Apprentice in CCL in FY 2022-23.
Sl. Name of the Trades Candidates
No. Establishment selected
1. MTC, HRD Information Technology Communication System Maintenance, Multi- 15
media & webpage designer
2. GNH Ranchi Medical Laboratory Technician (MLT) Pathology, Radiology, Cardiology, 25
Health and Sanitary Inspector and Dresser/Hair Cutter

3. BTTI Bhurkunda Wireman, Surveyor. 20

4. CETI Barkakana Welder, Mechanic Earth Moving Machinery, Mechanic Motor Vehicle 15
Total= 75
• Yoga and meditation have become an integral part
of any training program being held at MTC, HRD, and
Lifestyle and workplace Yoga/Stress management
sessions are held frequently at MTC, HRD, Ranchi.
Total 175 executives benefited so far
• HRD Department has spent an amount of ₹ 21.78
Crores (Twenty-One crore seventy eight lakhs only)
spent in FY 2022-23 on training and seminars at
MTC, HRD, CCL conducted at CCL, IICM, Centre of
Excellences, and other external training Agency etc.
Awareness Training Session is under progress and DDMS
• The good office of HRD, CCL ORGANISED one day Electrical is taking session
awareness programme on the Talk in Safety on
Highwall Mining held on dated: 28/10/2022. Total
29 executives participated in the Training. Most
important thing that our Ex CMD Sri. Bala swami
Akla took the session.
• Two Day Session was organised at MTC, HRD on the
Topic” Pay order related Transaction & clearing of
Liabilities in SAP” total 63 Executives from all areas
of CCL attended the training program on dated:
12/12/2022 to 13/12/2022.
• One Day Program for retiring employees was
organised to provide necessary health & financial
inputs to all retiring employees for their benefits. • One Day Session on “Employee Mental Health
Total 20 Participants participated the program on Awareness Program held on dated: 18/03/2023, total
dated: 22/12/2022. 30 Employee attended the Session & got benefited.
• One Day Session was organised on the “Topic
Shutdown procedure and Implementation of LOTO IMPORTANT ACHIEVEMENT DURING THE YEAR
for Electrical Supervisors” on dt: 22/02/2023 and 1. After a long persuation & effort finally Central
total 51 participants attended the session & got Excvation Training has become centre of excellence
benefited. in the field of imparting HEMM training. Previously
• One Day Session was organised on the “Topic they were busy in imparting therotical training
Shutdown procedure and Implementation of LOTO followed by on the Job Training for Practical
for Excavation Supervisors” on dt: 23/02/2023 and exeperience only. Now one Training Simulator
total 39 participants attended the session & got has been installed having features like “Multi-
benefited. Dimensional/ Module with three consoles of HEMM

45
 Simulators Design for 100T Dumper, BEML Make, EKG
4.6CuM ERS Electrical HEC Make Shovel, D355Doze4
410 HP, BEML Make. It has got Motion platform
which enable VR vision of 180˚ with 6˚ of Freedom.
This training simulator is very useful for imparting
quality training with due regards to Safety”.

Simulator Training at CETI, Barkakana

2. Under the initiative of CIL safety Department,
Vocational training centre of Rajrappa has been
identified to establish as “safety Excellence
Centre” for CCL for catering the need of safety
oriented training of Central Coalfield Limited with
collabration of Private Party under PP Mode. In this Future initiatives
regard tenderhas already been floted. The sucessful • Engagement of at least 5% Apprentices in different
bidder will be operating training centre for Six years trades of total work force (including Contractual
from the date of cemmencement of Contract. Workers)
• Up gradation of infrastructures at GVTCs
• Augmentation of infrastructure of MTC, HRD, CCL
by procuring and installing modern audio-visual
equipment in lecture halls and computer lab
• Procurement of Multi-dimensional HEMM
Simulators for training of entry level operators and
skill enhancement of existing Shovel, Dumper and
Dozer operators
• Creating and developing a pool of Internal faculty
and trainers amongst the existing executives of CCL
• Sending performing executives for Outreach
programs on management issues
• Creation of State of Art Training Centre at HRD
VTC Rajappa which will be establish as Department, CCL, Ranchi
Safety Excellence Centre of CCL • Creating Digital HRD by providing online intern/VT
application using a user interface.
3. Authorization of GVTC for Gas Testing Facility in
CCL • Digital Coaching through You tube Channel.
GVTC Argada, GVTC, Saunda, GVTC, N.K Area has 23. WELFARE
been authorized to operate Gas Chamber for issuing The welfare department of CCL performs its roles &
Gas testing certificate of competency. responsibilities in congruence with the objectives of our

46
company by improving overall wellbeing of the employees  Medical Facilities: Healthcare Delivery system in
by ensuring and providing all the welfare amenities for the CCL is carried out through 3-tier system. At Primary
employees. The department aims at boosting the morale level this is delivered through dispensaries. For
of the employees and improving the work efficiency by secondary and tertiary care this is being delivered
providing a congenial and professionally cordial work through Area/ Regional Hospitals and Central
atmosphere. Hospitals.
The details of foremost welfare amenities of our company There are 04 nos. of Central Hospital:
are as below: • Gandhinagar Hospital, Ranchi
 Housing: CCL has been constantly striving to • Central Hospital, Ramgarh
provide a decent living to its employees. All the
• Central Hospital, Dhori
employees are provided with housing facility by the
company. Scores of residential colonies are being • Central Hospital, NK
maintained by the company which comprise of all
A. Infrastructure
the required facilities viz. road, park, recreational
clubs, playground etc. Sl. Type of Medical
facilities Nos.
CCL with its vision to provide state of the art facility to
its employees has conceptualized and commenced 1 Hospitals
the work of “Smart Township Project“ with all
modern amenities at Amrapali –Chandragupta - Central Hospitals 04
Area for its employees along with the employees - Regional Hospitals 07
of Magadh-Sanghmitra Area. Area of residential
quarters are kept in consonance with the latest GPRA - Area Hospitals 08
guideline of increased plinth area for different types 2 Beds 892
of quarters. Total 1194 units have been envisaged
which is supposed to be completed by March 2024. 3 Dispensary 63
 Water Supply : To augment supply of drinking 4 Doctor 219
water as well as to adhere to the quality standards as
per IS 10500, MECON has started the task of setting 5 Ambulance 78 (63 nos. Hired & 15 nos.
up new WTP & renovation of existing WTP with a for Patient Transport, 56
broader vision to provide potable water to all the nos. BLS and 7 nos. ALS.
beneficiaries. Work is expected to be completed by
B. Value Added Service at Central Hospital, Ranchi
March 2024.
(i) Central Hospital Gandhinagar, Ranchi conducts
At present there are following sources of water Super Specialty Clinic in Cardiology on monthly
available with CCL- basis. Dr. Rajeev Rathi, Cardiologist from Max
Hospital New Delhi and Dr. P.K. Kuchlakanti,
1 Water Treatment Plant 10 nos.
Cardiologist from Yashoda Hospital, Hyderabad
2 Deep Bore Holes 182 nos. visit as Consultant in Gandhinagar Hospital.
3 Pressure filter plants 78 nos. (ii) Central Hospital, Gandhinagar has 20 Bedded
Critical Care Unit. Details are as follows:
Construction of New WTP Proposed a. ICU : 06 beds
b. CCU : 05 beds
Sl. No. NEW WTP @ Capacity 1 MGD Each
c. Dialysis : 04 beds
1. GIDDI-A, ARGADA
d. Recovery : 05 beds
2. RELIGARA, ARGADA
(iii) Nine COVID Centers were established in Central
3. LOHAPOOL, KATHARA Hospitals at CCL with a capacity of 355 beds.
4. SWANG, KATHARA (iv) COVID Vaccination Centers are fully functional
5. HILL TOP, B&K in Nine (9) places in CCL wherein more
than 240000 vaccination have been done
6. TAPIN NORTH, HAZARIBAGH
till date (31st March, 2023) with employees,

47
 their dependents, Contractual workers and  SPORTS & WELFARE
other residents of command Areas of CCL as CCL gives considerable importance for development of
beneficiaries.
sports and cultural activities for its employees and their
(v) 2 seats for DNB course in General Medicine and
family members, villagers and PAPs for upliftment of
04 seats for Diploma (Eye) are opened in GNH,
Ranchi. their social and physical health. Adequate numbers of
(vi) Ten (10) hospitals are empanelled under infrastructural facilities have been provided for all the
ABPMJAY (Atal Bihari Prime Minister Jan Arogya events. Besides organizing various sports/games & cultural
Yojna) activities, as per the guidelines of CIL Sports Promotion
(vii) Under Jan Aushidhi Yojna four (4) Jan Aushidhi Board, coaching camps are also being organized for skill
Kendra at GNH, Ranchi, CH, Ramgarh, CH, Dhori, development of the players.
CH, NK Area have been established in CCL
Central Coalfields Limited organised two prestigious
where Generic Medicines are being provided.
events of inter PSU level as well as organized all the sports
 Education: events following the sports calendar made at CIL and CCL
Grant to schools: level.
Specific emphasis is being given by CCL for providing All India Public Sector Volleyball Tournament:
quality educational facilities to the wards of its employees
All India Public Sector Volleyball Tournament was
as well as the dependents in the vicinity of its units.
Kendriya Vidyalaya, DAV Public Schools are running in organised at Harivansh Tana Bhagat Indoor Stadium,
the vicinity of CCL. These schools are given financial Khelgaon, Ranchi from 8th to 10th June 2022.
grants both recurring and non-recurring and also other Seven (7) Public Sector enterprises team participated on
infrastructural assistance. league cum knockout basis.
Schools Amount for the year The final match was played between Life Insurance
2022-2023 Corporation (LIC) and Oil India Limited (OIL) in which LIC
DAV ₹ 9.87 Crores defeated OIL by 3 sets.
Kendriya Vidyalaya ₹ 3.74 Crores

Scholarship:
CCL offers scholarships to the meritorious wards of CCL
employees every year under the scheme of CIL Scholarship.
The number of beneficiaries of CIL Scholarship scheme:

Year- 2022-2023
Expenditure 2.87 Lakhs
No. of wards 152

Tuition Fee Reimbursement:

CCL reimburses the tuition fees and hostel charges to
meritorious students pursuing full-time courses in Govt.
Engineering/Medical to nurture and support talent
among the deserving students belonging to families of
non-executive under NCWA X. The expenditure of the last
year is as follows:

Year- 2022-2023
Expenditure 51.27 Lakhs
No. of wards 58 nos.

48
 All India Public Sector Cricket Tournament

Distribution of Hockey sticks at Simdega and Khunti:

All India Public Sector Volleyball Tournament Jharkhand has history of producing scores of talented
hockey players representing International squads.
All India Public Sector Cricket Tournament:
Considering the facts, CCL took the initiative to distribute
All India Public Sector Cricket Tournament was organised 200 hockey sticks among budding players of Simdega and
at Ranchi from 13th – 18th March 2023 wherein thirteen (13) Khunti Districts
Public Sector enterprises participated in this tournament.
Felicitation of Indian Women Hockey players of Jharkhand.
The final match was played between Air India (AI) and
CCL felicitated hockey players on 24th August 2022 who
Bank of Baroda (BoB) in which Bank of Baroda was winner.
brought laurels to the nation in Common Wealth Games
2022 and also to those who represented India.

49
Coal India Marathon: Other Welfare activities:
CIL successfully organized Coal India Marathon at Celebrating International Day of Yoga:
Ranchi on 26th March 2023 with technical support from With the practice of Common Yoga Protocol (CYP) on
Jharkhand Athletics Association. This prestigious event is the assigned date by Ministry of Coal numerous yoga
the first registered full marathon being organized by CCL activities in CCL hqrs and in command areas of CCL were
in Jharkhand. Padmashree Awardees Ms. Shiny Wilson, Ms. conducted on IYD.
Jyotirmayee Sikdar and Ms. Premlata Agrawal participated
in the marathon. Har Ghar Tiranga:
This mega event was open to all in which around 6000 To generate buzz and outreach among masses, scores
participants from all across the nation participated in of activities were conducted across the company, viz.,
different categories of run as enumerated below: - Prabhat Pheri wherein 250 employees marched from
Darbhaga House, CCL Hqrs to Jawahar Nagar Club, quiz,
1. FULL MARATHON: 42.195 KM (18yrs and above).
discourses.
2. HALF MARATHON: 21.098 KM (18yrs and above).
3. 10 KM (18yrs and above). CCEBFS:
4. 05 KM (Open to All). This scheme is called the “Central Coalfields Limited
Employees’ Benevolent Fund Society”. It applies to all the
collieries, washeries and other units and establishments
including the Head Office of CCL located in different
states of India and covers all employees.
 Benefits of C.C.E.B.F.S
• Death Payment
• Scholarship
• Sickness
• Silver Coins (Departure Gift)

Year 2022-2023
Sl.
Benefits No. of Amount
No.
beneficiaries (In Lac)
1 Death payment 405 211.66
2 Scholarship 155 13.11
3 Sickness 0 0.00
Silver Coins
4 971 48.55
(Departing Gifts)

Crèche facilities: Establishment of crèche facilities in

all areas is under way and at present Six (6) crèche is
functional in CCL.
Security barrack and Executive hostel : One newly CISF
barrack having 3 halls and 7 cabins and double storied
Executive hostel with 25 rooms have been constructed.

24. CORPORATE SOCIAL RESPONSIBILITY

CCL Operates in 8 Districts of Jharkhand (Ranchi, Ramgarh,
Chatra Latehar, Palamu, Giridh, Hazaribagh & Bokaro).
These Districts stand low on development indices and
listed among 112 Aspirational Districts of Nation.
Sustainable Development being central to its mission,
Central Coalfields Limited has strong intent to serve
the local community. Continuing service to villagers of
Glimpses of Coal India Marathon command Area through its Community Development

50
Programme, CCL has upscaled social goods manifold after
12 Welfare of Senior Citizen 2.99
introduction of CSR in 2014, covering command area and
other parts of Jharkhand State. 13 Disaster Management 1.50
Implementation of CSR in CCL is based on CCL CSR Policy 14 Administrative exp. 140.72
approved by its Board, Companies Act 2013 including
subsequent amendments, Companies CSR Rules 2014 Total 3612.24
and amendments, directives of DPE, NITI Aayog and other Sector wise brief of important CSR initiatives undertaken
Govt. Rules/guidelines/Programmes. by CCL in 2022-23 is as follows:
CCL CSR Policy outlines sectors for CSR projects in line
with Companies Act 2013.The policy envisages minimum 1. Health & Nutrition
expenditure on CSR @ 2% of average net profit of the The major projects taken up by CCL in this sector are
company for the three immediately preceding financial stated as below:
years or ₹ 2.00 per tonne of coal production of previous
year whichever is higher. Accordingly, target CSR 1.1 Centralized Kitchen for MDM at Ramgarh
expenditure in 2022-23 was Rs 46.27 crore. CCL has entered into MoU with Akshay Patra Foundation
As per CSR Policy, around 80% of CSR expenditure is and District Administration Ramgarh for setting up 50000
targeted to be within 25 kms of operational units of CCL meals per day capacity Centralized Kitchen for supply of
and the rest 20% in other parts of Jharkhand. Mid Day Meals to 538 government schools of Ramgarh
As per DPE guidelines for CPSEs, Aspirational Districts district. The project cost of ₹ 22.09 Crores includes
are to be assigned priority and around 60% of CSR construction of building, equipment, vessels, vehicles etc.
expenditure is to be done on annual theme decided by and required funding for 1 year of operation.
DPE; which is ‘Health and Nutrition’ for the year 2022-23. 1.2 Nikshay Mitra: Adoption of TB patients
In the FY 2022-23 the total CSR expenditure is ₹ 36.12
CCL has registered as Nikshay Mitra for adoption of TB patients
Crore against the target of ₹ 46.27 Cr.
of Latehar and Chatra Districts under PM TB Mukt Bharat
Out of ₹ 36.12 Cr of CSR expenditure in the FY 2022-23, Abhiyan. Under the initiative, CCL is delivering monthly
expenditure towards the annual theme amounts to nutrition basket to registered TB patients of these districts
₹15.01 Crore. through CINI with online tracking of implementation. The
Sector-wise Spending on CSR activities in FY 2022-23 (in ₹ project cost is ₹ 74.36 Lakh for 6 months.
Lakhs) are as follows:

Sl. Exp. In FY 2022-23

Sector
No. (in lakhs)
1 Healthcare and Nutrition 972.34

2 Education 811.73

3 Sports Promotion 593.05

4 Water Supply 379.33

5 Rural Development 256.37

6 Skill Development & 161.62

Livelihood

7 Sanitation 142.18

8 Environment & SD 129.62

9 Animal Welfare 9.36

10 Welfare of Differently abled 7.55 Distribution of Nutrition Basket to TB

Patients of Chatra and Latehar District
11 Promotion of Art & Culture 3.89

51
1.3 Ambulances for Chatra District 1.5 Medical Equipments for Govt hospitals in
4 nos type B and 2 nos Type C ambulances were provided Ramgarh
to Chatra District Administration at a cost of Rs 1.05 crore. Ramgarh is an important District connected to several
The ambulances shall be deployed in CHCs for rapid Operational areas of CCL. For larger benefit to villagers of
response to patients and accident victims. this cluster, CCL contributed Rs 88.60 lakh for setting up
Biochemistry Analyzer (4), ABG Analyzer (2), hematology
analyzer (4) etc in Govt Hospital, Ramgarh.
1.6 E-Scooters for ANMs in Bokaro
CCL has supported procurement and distribution of
100 e scooters to Auxiliary Nurse Midwives (ANMs) for
disseminating effective health services in remote areas of
Bokaro District at a project cost of Rs 75.16 lakh.

Provision of Ambulance to Chatra District

1.4 Running of CSR Dispensaries, Regular and

Specialized Health Camps
CCL is providing healthcare to villagers of command
areas through Jan Arogya kendra located in its Central
Hospital at Ranchi, CSR Dispensaries in Company
Hospitals at Operational Areas. Reaching out to them,
company organizes health camps in villages and schools
throughout the year. In the FY 2022-23 a total of 684
camps were organized benefitting 1,32,871 persons.

Distribution of E-scooters to ANMs in Bokaro

1.7 Model Labour Rooms in Latehar

CCL has supported development of model labour rooms
in 15 CHC/PHCs of Latehar District at project cost of Rs
1.05 crore. This will help to a great extent in institutional
delivery and survival of mother and new born babies in
rural areas of this aspirational district connected with CCL.
1.8 AWCs in Kodarma
Under CSR support of CCL, 30 Anganwadi centres of
Kodarma District is being upgraded into Model AWC at a
cost of Rs 42 lakh.
2. Education
CCL in its commitment to create a strong base for the
upcoming generations has laid much emphasis on
Health Camps providing quality education to the students residing its
command areas.
Multi specialty Mega health camp, disease specific camps The major initiatives taken up by CCL under CSR for
(Detection of diabetes, Anaemia, Hypertension), cataract promotion of education are listed below:
Surgery camps are also organized. The patients needing
2.1 State Library, Ranchi
higher treatment are referred to Central Hospital of
Company and treated free. CCL has entered into an MoU with Dept. of Education,

52
Govt. of Jharkhand for setting up 5000 seated State
library in Ranchi University at project cost of ₹ 65.25
Crores. The library will have Reading halls, E-Resource &
Journal section, Conference Room, Digital Library section,
Cubicles for group study, Meeting Rooms, Meditation
Centre, Cafeteria etc. Besides the students, the library will
be open to common people. The project is likely to be
completed in 2 years.
2.2 CCL Ke Lal & CCL Ki Laadli
Students (boys and girls) belonging to deprived sections
from command Area are selected on merit/entrance test
and provided free residential classroom coaching and
free Higher secondary education in reputed School by
IITian Executives of CCL for JEE Mains/Advanced /other
Engineering Entrance Examinations.
20 Boys and 20 girls of command area are inducted every
year with reservation for SC/ST/OBC. The IITan officers
provide coaching in evening classes. +2 education is
provided in DAV Gandhinagar.

CCL Covid Crisis Scholarship Scheme

2.4 Smart Class in Govt Schools

In co-ordination with the District Administration of Chatra
and Jamtara a total of 94 smart classes have been set up in
Govt. schools. 54 smart Class devices were set up in Govt
schools of Tandwa, Chatra by Extramarks Foundation. The
project is running in its 2nd year with back up and training
support to Govt teachers. 40 Smart class devices were set
up in Govt Schools of Jamtara. The project is facilitating
digital learning in Govt. schools and making teaching
and learning more effective thereby increasing student’s
interest and retention.

CCL ke Lal and CCL Ki Laadili

Result of 2020-22 Batch: Out of 31, 19 students secured

+90% marks in CBSE Class XII Board,9 scored +80% and
rest 3 scored +70%. In engineering entrance, 25 qualified
for JEE Mains and 7 out of them cleared JEE Advanced.
2.3 CCL COVID Crisis Scholarship Scheme
To facilitate continuation of education of children who
have lost their parents or the primary earning members
of the family due to COVID. CCL started a COVID Crisis
Scholarship Scheme in 2022. Under the scheme, such
students studying in Class I to Undergraduate courses
belonging to districts linked to CCL command areas are
given scholarship for two consecutive years to continue
education. The project is running in its second year.
Project got appreciation of Hon’ble Justice of High Court
and beneficiaries were also sourced from Project Shishu of
Jharkhand Legal Services Authority. Smart Classes in Govt. School Jamtara

53
2.5 Infrastructure in Govt Schools of Koderma and The academy strives to achieve the coveted dream of
Giridih: For improving facilities in Govt schools, provision winning Olympic Medals. Total 847 medals (Gold -376,
of Boundary wall, Deep boring, RO water purifier, Toilets Silver – 240, Bronze – 231) have been won by the sports
has been taken up for implementation in 21 schools of cadets in District/State/National/International events.
Koderma and Giridih Districts for a project cost of Rs 3.46 CCL spent ₹ 7.99 crore on account of operation of the
crore. Academy in the FY 2022-23.
2.6 Mini science Lab : In 4 Govt Schools of Chatra, Mini
science Lab were set up at project cost of 19.92 lakh for
creating interest in science among rural students and
promoting effective education and student retention.
2.7 Ekal Vidyalay: CCL is funding 120 single teacher
school for informal education of mostly tribal children
in remote areas of Latehar District (Project cost: Rs 26.40
lakh, Duration:1yr).
2.8 Other major initiatives under Education sector
CCL has taken up several other projects as well to promote
education in its command areas such as:
• Infrastructural support in schools situated in CCL
command areas like construction of classrooms,
electrical fittings, provision of desks, benches etc.
• Educational support to adopted (mainly orphaned
and other under privileged students) for their
residential education in local English medium
school.
• Support to students through provision of books,
bags, stationary, school fees, uniforms etc.
• Hiring of School Buses for commutation of rural
students to schools. Sports Academy Hotwar
• Classrooms and Community Libraries
The project has bagged for CCL 2 consecutive National
3. Sports Promotion CSR Awards in promotion of Sports category. (2019 and
3.1 Operation and Maintenance of Sports Academy, 2020 declared in 2022).
Khelgaon, Jharkhand 3.2 Distribution of Sports items and Renovation of
Under MOU with Govt of Jharkhand in September’2015, Football Ground
a Sports Academy was established in 34th National
Games infrastructure (Mega Sports Complex at Khelgaon, Considering Sports to be an appropriate medium to
Hotwar, Ranchi). The operational Expenses are borne coordinate the youths residing in CCL command areas and
by CCL and State on 50:50 basis. The Academy is run by to promote sports among the local youths, CCL provides
Jharkhand State Sports Promotion Society (JSSPS) with football, cricket kits, volleyball, nets etc.to the local youths
its Local Management Committee (LMC) manned by CCL and children.
personnel. Currently there are 437 sports cadets (206 4. Drinking Water
girls and 231 boys). Selected through state wide rigorous
talent hunt, about 96% of the Sports Cadets belong to SC/ There is often shortage of water in the villages situated
ST and other backward communities. in the mining areas. To cater the drinking water needs
Facilities provided free : Coaching by national level of the community, areas of CCL has developed deep
qualified coach in World Class Infrastructure, Sports Kit, borings, solar powered deep boring, hand pumps, wells,
Hostel, mess, in campus secondary education (National installation of RO water plants & water purifiers, provision
Institute of Open Schooling), medical facility, Medical of water through pipelines etc. These sources have been
and Accidental Insurance for ₹ 1 lakh, Stipend (₹ 500 per established to ensure clean drinking water to the villagers
Month), participation in tournaments residing in CCL command areas at accessible distance.

54
 Adoption of Animals at Birsa
Zoological Park, Ormanjhi
Solar Powered Deep Boring at Piri, Barkakana

The details of drinking water sources developed during 5.2 Tree Ambulance
the FY 2022-23 are as follows: Under the unique initiative, CCL is funding ₹ lakh for
Activities Nos. Exp. (in Rs diagnosis and treatment of infected trees for longevity
lakhs) of forest around operational areas. Project is under
implementation by RKDF University at a cost of Rs 51.09
Hand pump 86 59.11 lakhs in 3 years.
Well 12 43.79 5.3 Construction of Ponds
To recharge the ground water table and facilitate
Deep Boring 21 100.73
availability of water, construction/renovation of ponds
Deep boring with solar 13 128.56 are taken up in and around the villages situated in CCL
submersible pump command areas. Around 14 numbers of ponds were
renovated / constructed during the FY 2022-23 incurring
Installation of Water Purifiers 37 32.02
a total expenditure of ₹112.84 lakhs.
Water distribution through 1 8.69
6. Skill Development and Livelihood
pipelines and others
Skill development of local youths has been a priority
To promote green energy Company has installed solar area of intervention in the recent years for livelihood of
powered deep bore wells with water storage tanks in the beneficiaries and to create a skilled workforce for the
remote villages for availability of safe drinking water. The
National/State economy.
facility is well taken by villagers, especially in areas with
poor/no availability of power. Maintenance is arranged by 6.1 HMV driving training
local groups. Heavy Motor Drivers are high on demand and securing
5. Environment & Sustainable Development an HMV DL is objective of drivers. CCL engaged a Govt
5.1 Adoption of Lion-2 and Tiger-2 at Ranchi Zoo of Jharkhand licensed HMV driving Training Centre (DTC)
and provided 45 day free residential training to 140 PAPs/
Under MoU with Jharkhand Zoo Authority, CCL has
adopted a pair of lions and a pair of Tigers at Bhagwan villagers of CCL Command areas at a total project cost of
Birsa Zoological park, Ranchi for 3 years. A total 36 lakhs Rs 30.50 Lakh. The training partner also arranged issue
will be borne on account of food, medical case and upkeep of HMV Driving License to the candidates completing
of the zoo inmates. The project is running in its 2nd year. training.

55
 6.4 Training in motorcycle maintenance and repair
technology to 25 members of Tana Bhagat
community

Skill Development Training of Tana Bhagats

Tana Bhagats a local Tribal clan of Jharkhand, known for

HMV Driving Training at Latehar their resistance to English rule and being strict Gandhians.
Under Azadi ka Amrit Mahotsav, CCL partnered with
6.2 Tailoring training of 50 ST/SC/OBC women was Jharkhand Govt. Tool Room (a society under the aegis of
undertaken through SUNMARGAM FOUNDATION in Dept of Industries, Jharkhand) for training of 24 youths
Ranchi district at a project cost of ₹ 11.44 Lakh. The scope in Motorcycle maintenance and repair technology. The
includes arranging linkage with local small and medium initiative resulted in placement of some candidates
garment manufacturing Units, Credit linkage with local in motorcycle repair Shops and self-employment by
banks, PMEGP Scheme, Mudra Yojna etc to widen self- opening own bike garage.
employment activities of beneficiaries on larger scale.
6.5 Solar PV module for Sewing Cluster in Chitarpur
6.3 ‘TRIBAL-HAAT’ (Ramgarh)
Skill Training was provided to 200 artisans forming SHGs Partnering with The Energy and Resource Institute (TERI),
of 20 through Amar Jagriti Kendra under project- ‘TRIBAL- CCL arranged 50% funds for setting up Solar Panel,
HAAT’ (Tribal HAndicraft Artefact Tribune) in Ramgarh Battery and wiring etc for powering the sewing machines
District with project outlay of Rs 48.72 lakh. Women have and fan, light of the home based workshop of 50 families
been trained on Dokra art, Sujni art, Bamboo craft, Jute in Chitarpur Sewing cluster of Ramgarh. Amount was
craft. Artisans are now making artefacts and selling to shared by beneficiary and CCL in 50:50 ratio. Though low
individuals, shops. Sale through e marketing platform is investment of Rs 8.75 lakh, the initiative resulted in high
also being enabled. impact by increasing income by around 2500 per month
due to additional working hours during power cuts. Two
bulbs and a fan supported by the solar power connected
to sewing machine also helped education of their wards.

Solar PV to Sewing Clusters, Chitarpur

Skill Training of Rural Artisans - TRIBAL HAAT

56
6.6 Short term Training for Livelihood Generation 7.2 Construction of Toilets
CCL has been undertaking various skill development CCL has constructed around 30 toilets in schools/ villages
trainings in the trades food processing, mobile repairing, situated in its command areas to reduce open defecation,
tailoring, computer etc. in its command areas to provide
thus creating a healthy and clean environment.
livelihood opportunities to the local villagers especially
youths. 7.3 Swachhta Pakhwada
Trades of Training No. of Benefi- Exp. Amt. As per the directions of MoC, Swachhta Pakhwada is
ciaries (₹ In Lakhs) observed by the company in all the areas/HQ during the
Computer Training 120 1.79 specific period. In the FY 2022-23, Swachhta Pakhwada
Food Processing was organized from 16.06.2022 to 30.06.2022
Training 986 20.00 Various activities were conducted by Areas/ HQ CCL like
Plastic Processing 160 72.80 Tree Plantation, Cleaning of schools & Hospitals, Cleaning
Dairy & Fishery 50 0.51 of offices & Colonies, activities Discourage the use of
single use plastic
Total 1316 95.10
initiatives for optimistic use of stationery items, Disposal
6.7 Livelihood Generation
of solid waste compost on reclaimed land, Rain water
For promotion of livelihood and income generation
Harvesting & water recycling, Distribution of Masks,
activities different areas have taken up CSR initiatives like
provision of equipments like puff rice making machine, Sanitizers, Soaps, etc.
spices making machine, sanitary napkin manufacturing
units, sewing machines, bee hives etc. 8. Rural Development Projects
Community hall, roads etc. are often requested by
7. Sanitation
villagers for common meeting place/ social functions,
7.1 Bottle crushing machines for Ranchi and Hatia communication and other requirements.
Rly Stations
With objective of clean platforms and recycling of plastics 8.1 Strengthening widening of Rai Khalari Road
for better environment, 9 bottle crushing machines were The Road is lifeline of the villagers residing around NK
installed in platforms of Ranchi Rly station and 2 in Hatia and Piparwar Areas of CCL. On demand of local people
Rly Station. and elected representative, CCl has approved Rs 8.02
crore for strengthening and widening of Rai-Khalari Road
(6KM). The work is in progress through REO Works Division
Ranchi.
8.2 Construction of Roads
Around 800 m of PCC road along with 4 culverts has been
constructed by Piparwar area at Benti Village, Chatra with
an expenditure of ₹ 79.56 lakhs.

9. Other Major CSR Initiatives

9.1 “Har GharTiranga"
Aligning with National Campaign for hoisting National
flags on houses, offices, business establishments under
Azadi Ka Amrit Mahotsav, CCL promptly arranged flags
mainly from TRIFED and JSLPS, thereby supporting
livelihood of tribals besides honouring the campaign.
Company supported around 13 lakh flags at a total cost of
Bottle Crushing Machine at
Ranchi & Hatia Railway Station Rs 2.40 crore including contribution to Govt of Jharkhand
for Rs 2.0 crore.

57
 "Har Ghar Tiranga" Campaign 2022 ICSI-CSR Excellence Award 2022
9.2 Technology Incubation:
On 18.08.2022, Ministry of Corporate Affairs, Government
Under MOU with Jharkhand University of Technology
of India has declared the winners for the 2nd National CSR
a Technology Business Incubation Center (TBI) was set
Awards in different categories. CCL has been declared
up at JUT to provide Technical and financial support to
winner in the category “Promotion of Sports” for its
new entrepreneurs/MSME Start-ups. The 3 year project is
flagship project on Running of Sports Academy at Hotwar,
running in its 2nd year.
Ranchi.
9.3 Animal Ambulance:
MoU has been entered with Hope & Animal Trust for 25. SAMADHAN SCHEME
providing and running 24x7 Animal Ambulance cum A Grievance Cell has been established on 27/04/2012 for
emergency response vehicle including OT facility for redressal of grievances of all working or retired executives,
treatment of injured/sick animals (Stray animals & non-executives, contractors, consumers of CCL or any
livestock) with a project value of ₹37.00 lakhs. The duration other person related to CCL.
of the project is 1 year.
The complainants lodge their grievance either in person
or in writing or Online Samadhan portal available
at CCL website under Complaint Desk https://www.
centralcoalfields.in/ccl_cmplnt/mobileauth1.php and
are provided every possible support over Toll Free
no.18003456501. The grievances are registered on portal
and acknowledgement number is generated online which
is sent through SMS on complainant’s mobile number and
grievance status/feedback is available online which can
be accessed through website of the company.
After reviewing the grievance at HQ, it is forwarded to
the concerned Area/ Dept. which further sends to the
concerned Unit through ONLINE mode. All these stages
have inbuilt SMS intimations facility to the concerned
Nodal Officers of respective Unit/Area/HQ Departments.
The information regarding new case is subsequently
forwarded to the concerned Nodal Officer of respective
Unit/Area/HQ for status.
24x7 Animal Ambulance for Stray Animals
Daily follow ups of the grievances registered is taken up
10 CSR Awards and accolades either on phone or in person.
CCL bagged the prestigious (Institute of Company In case of Non Compliance by the concerned Nodal Officer
Secretaries of India)- ICSI CSR Excellence Award for the within 7 days, matter is taken up with the concerned GM/
year 2022 for the Best Corporate (Large Category) in the HoD/Staff Officer (P&A) and SMS intimation is made on
award ceremony organized in Mumbai on January 6th. their mobile number.

58
In case of non redressal of grievance by the concerned sent to respective Area/Dept. for review and appropriate
GM/HoD/Staff Officer (P&A) within 14 days, matter is reply and if found satisfactory, reply is forwarded to the
taken up with the GM (Samadhan) & TS to D (P) in person complainant through letter/email or online as per the
and SMS intimation is made on their mobile number. mode of submission.
In case of pendency of grievance due to some technical
Achievement of Samadhan Cell during 2022-23.
reasons or otherwise, the same is brought into the
knowledge of Director (Personnel) in person and SMS A total no. of 330 grievances was received in Samadhan
intimation made on his mobile number. Cell during 2022-23 out of which 330 grievances have
been disposed of resulting in an achievement of 100.00%.
The reply received from the concerned Area/Dept. are
examined and if not being found satisfactory, case is again
26. ENVIRONMENT & FOREST
A. Environment Clearance:
1. Statutory Clearances:
The TOR and EC obtained during FY 2022-23 are listed in the below table:
a) TOR obtained during 2022-23:
Capacity
SN Name of Project Date of issuance of ToR
(in MTPA)
1 Selected Dhori (Lower) OCM 2 12.12.2022
2 Rohini OCP 0.75 24.03.2023
b) EC obtained during 2022-23:
Capacity
SN Name of Project Date of issuance of EC
(in MTPA)
Fresh EC
1 Bhurkunda Colliery 2.05 13.07.2022
2 Kathara OCP 1.90 18.10.2022
3 Kabribad OCP 0.60 30.01.2023
4 Selected Dhori (Lower) OCM 2 30.01.2023
5 Giddi A OCP 1 24.03.2023
Enhancement of EC Capacity
1 North Urimari OCP 4.2 13.02.2023
Addendum/ Extension in validity of EC
1 KDH Expansion OCP 5 26.12.2022
2 North Urimari OCP 3.6 27.12.2022
3 Karo Expansion OCP 3.5 16.01.2023

c) CTO/CTE/other permissions obtained during 2. Air Pollution Control Measures:

2022-23: a) Mobile water sprinklers are provided in each
• Consent to Operate (CTO) under Water & Air Acts unit of CCL including mist type water sprinklers.
has been obtained from Jharkhand State Pollution In addition, fixed water sprinklers are also
Control Board (JSPCB) for all operating units of installed at projects of CCL
CCL. In FY 2022-23, 52 numbers of CTOs have been b) In FY 2022-23, 15 numbers of trolley mounted
renewed/issued by Jharkhand State Pollution fog cannons are procured and installed for
Control Board. In addition, CTE of 5 numbers of units of CCL.
projects & 3 numbers of stock liquidation permission
c) Development of Plantation over overburdens,
has also been issued in FY 2022-23 for different units
near infrastructure and green belt development.
of CCL.

59
 d) Transportation of coal through covered trucks 4. Land Reclamation and Plantation:
only. a) Plantation undertaken in FY 2022-23 is listed in
e) Wind breaking system & water sprinkling table below:
arrangements at Railway siding through Number of Plants Total Area Planted in Ha.
mobile/fixed water sprinklers are ensured.
3,75,401 178.85
3. Water Resource Management: b) For development of Eco- Parks in its command
area, CCL has signed a memorandum of
a) Regular monitoring of ground water quality
understanding (MoU) with WAPCOS. Under this
and water level due to mining operation is
MoU, WAPCOS will develop and maintain nine
being done through a network of Piezometers
eco-parks in command area of CCL covering
as well as other bore/ open wells.
an area of more than 100 Ha at a cost of
b) Regular monitoring of surface water and approximately 63 Crores.
effluent water is being done.
5. Environmental Monitoring:
c) Catch drains and garland drains have been
a) Routine Environmental Monitoring of air, water
constructed for channelizing the surface runoff
and noise was carried out for all units of CCL
to mine sump.
during the year 2022-23 through CMPDI which
d) Mine water in command area of CCL is utilized is having NABL accredited laboratory.
for supplying water to nearby villages (120 b) One season baseline data generation work
numbers) benefitting around 1,86,703 people. is also carried out for 14 projects of CCL in FY
The mine water usage in command area of CCL 2022-23.
is tabulated below:
c) 14 numbers of Continuous Ambient Air Quality
All values in Lakh Cum Monitoring System (CAAQMS) & 28 numbers
of Continuous PM10 Analyzers in command
Average Own Use Community Use Recharge/
area of CCL are already installed with data
mine Left for
discharge Domestic Industrial Domestic Irrigation future use linked with servers of Jharkhand State Pollution
Control Board (JSPCB).
373.9 75.12 150 86.8 10.44 51.54 d) Land Reclamation Monitoring of 27 numbers
e) Voids in CCL mines are also being utilized of Opencast Coal Mines of CCL is undertaken
for caged fish farming/Pisciculture by local based on satellite data & remote sensing
communities/Self Help Groups. through CMPDI during FY 2022-23.

6. IMS Certification:
Re-certification of IMS (ISO 9001:2015, ISO 14001:2015, ISO
45001:2018) for units of CCL issued on 12.05.2022. Process
of implementation of Energy Management System (ISO
50001:2018) in five units of CCL as a pilot project started
in Dec-2022.

7. Other ongoing studies related to Environment in

FY 2022-23:
a) CCL has signed an MoU with Wetlands
International South Asia at a cost of ₹ 18.29
Lakhs for assessing biodiversity and ecosystem
services values of the proposed Ramsar Site at
Giddi ‘A’ Colliery Pit Lake at Argada Area, CCL,
Ranchi, Jharkhand, on 16.02.2023. The study
period of the said work is 06 months.
b) CCL has issued work-order to IIT (ISM) Dhanbad
Caged Fish Farming in Mine Void of at a cost of ₹ 24.09 Lakhs for review of Social
North Karanpura Area of CCL Impact Assessment Framework for Coal Mining

60
 Industry in India, on 03.02.2023. The study
period of the said work is 12 months.
c) CCL has issued work-order to Central University
of Jharkhand at a cost of ₹ 48.73 Lakhs for
assessment of the impact of mining operation
in nearby eco-system of South Karanpura
Coalfields, Damodar River Basin, Jharkhand, on
18.10.2022. The study period of the said work is
07 months.
d) CCL has also inked an MoU with ICFRE-IFP at a
cost of ₹ 441 Lakhs for undertaking scientific
studies for development of methodology
for conservation and utilization of soil and
Glimpses of Celebration of World Environment Day at
transplantation of native ecosystem for mine
Central Coalfields Limited
site restoration, on 22.11.2021. The said-work is
under implementation in FY 2022-23. b) CCL under the guidance of MoEF&CC has organised
various programs in different schools to create
8. Other Environment Related Celebrations: awareness about relocation of Cheetah in India.
a) Central Coalfields Limited has celebrated World CCL employees, students, teachers unleashed their
Environment Day 2021 on 05.06.2022 at all creativity through posters, paintings etc on the topic
areas & projects to reiterates its commitment
to sustainable mining & encouraging initiatives
for restoring the ecosystem. On this occasion,
plantation along with distribution of saplings,
quiz, essay & drawing competition were
organized in command areas of CCL.

Glimpses of awareness activity undertaken on the occasion

of introduction of Cheetah in India

61
B. Forest Clearance:
i. Stage I FC: 4 Nos. of Proposal for 1311.94 Ha
SN Project Name Area (Ha) Date of Stage I
1 Road from Honhe to Shivpur Siding 8.38 19.09.2022
2 Purnadih OCP 321.69 17.01.2023
3 KDH OCP 126.72 27.02.2023
4 Kotre Basantpur Pachmo OCP 855.17 27.02.2023
Total 1311.96

ii. Stage II FC: 1 no. of Proposal for 8.38 Ha

SN Project Name Area (Ha) Date of Stage I
1 Road from Honhe to Shivpur Siding 8.38 15.01.2023
Total 8.38

iii. Site Handover: 1 no. of Proposal for 32.61 Ha

SN Project Name Area (Ha) Date of Site Handover
1 Karma OCP (132.28) 32.61 17.02.2023
Total 32.61
iv. Temporary Working Permission for one year granted for 5.55 Ha forest land of Coal Pipe Conveyor in Magadh
Coal Block (8.54 Ha) on 23.12.2022
v.  
Proposals recommended by GOJ to MoEF&CC/IRO-MoEF&CC

SN Name of Proposal Area (In Ha) Date of Recommendation

1 Road from Honhe to Shivpur Siding 8.38 08.04.2022

2 Purnadih OCP 323.49 17.08.2022
3 KDH OCP 126.72 22.08.2022
4 Kotre Basantpur Pachmo OCP 855.17 30.09.2022
5 Urimari OCP 34.64 23.12.2022
6 North Urimari Railway Siding 11.11 03.01.2023
7 Amrapali OCP 431.59 06.03.2023
8 Magadh OCP 192.36 06.03.2023
9 Saunda D Renewal 99.69 14.12.2022
10 Urimari OCP Renewal 49.97 14.12.2022
11 Rajrappa OCP 277.15 07.09.2022
12 Kedla OCP 168.50 28.11.2022
13 Laiyo UG 78.59 02.12.2022
14 SDOCP 7.45 21.02.2023
2664.81

62
vi. Online Submission/Revision of Forest Clearance x. Preparation of DGPS and KML of 12 nos. of
Application: proposal for 3816.485 Ha of CA land:

SN Name of Proposal Area Date of Area of CA

SN Name of Proposal (Area In Ha)
(In Ha) Application/ land
Revision 1 Rajrappa OCP 84
1 Magadh railway Siding 115.18 15.09.2022 2 Bhurkunda Colliery 1225
2 Amrapali Railway 120.61 29.11.2022 3 Road from Honhe to Shivpur 83.80
Siding 4 Amrapali Railway Siding 260
3 Kabribad OCP 27.37 10.01.2023 5 Amrapali OCP 127
Total    263.16 6 Karma OCP 193.16
7 Karo OCP 108.94
vii. Payment of ₹ 306.94 Crores under CAPEX has 8 Jharkhand OCP Renewal 116
been made by forest department in FY 2022-23. 9 Laiyo UG 158
viii. NOC issued for 7 nos. of proposal for 565.52 Ha 10 Rajrappa OCP (1.5 times safety zone area) 3.585
GMJJ land 11 Chandragupta OCP 1400
SN Name Of Proposal Area Date of 12 Ashoka OCP 57
(In Ha) Issuance Total 3816.485
1 Chandragupta OCP (Chatra) 3.46 10.06.2022
xi. Preparation of DGPS/KML/Land use plan of 11
Chandragupta OCP nos. of proposal for 1287.61 Ha of forest land:
2 161.81 30.08.2022
(Hazaribagh)
Sl. Name of the proposal Forest area
3 Argada OCP 18.2 30.09.2022 No. (in Ha)
4 Amrapali Railway Siding 17.35 11.11.2022 1 Ashok OCP 259.17
5 Magadh Railway Siding 18.9 10.01.2023 2 Magadh railway siding 115.18
6 Ashok Expansion OCP 307.99 10.01.2023 3 Pichri OCP 53.94
7 Piparwar UG 37.81 10.01.2023 4 Amrapali Railway Siding 120.61
Total 565.52 5 Kedla Dania Railway Siding 34.26
ix. CA land identified for 10 nos. of proposal for 6 Kabribad OCP 27.37
1717.865 Ha land
7 Laiyo UG (287.56 ha KML & Land use) 78.59

Area of CA 8 Kedla OCP (1084.49 KML & Land Use) 168.50

SN Name of Proposal (Area In Ha)
land 9 Khasmahal UGP 14.99
1 Amrapali Railway Siding (120.61) 241.22
10 Chainpur OCP 308
2 Magadh Railway Siding (115.18) 230.36
11 Parej East UGP 107
3 Additional CA for Amrapali OCP (431.59) 127
Total 1287.61
4 Additional CA for Magadh OCP (115.18) 30.02
5 Ashok OCP (28.35) 56.70 xii. Preparation and Approval of different plans:
6 20 MW Solar PV Project at Piparwar 34.12
Approval
(17.06) SN Proposal Plan
Date
7 Chandragupta OCP (Chatra Division 801.92
1 Coal Pipe Site Specific Wildlife 26.07.2022
part)
Conveyor in Management Plan
8 Karo OCP (226.67) 108.94 Magadh Coal
2 Block Catchment Area 22.11.2022
9 Rajrappa OCP 84
Treatment Plan
10 Rajrappa (1.5 times safety zone area) 3.585
3 Karo OCP Site Specific Wildlife 17.03.2023
Total 1717.865 Management Plan

63
27. LAND POSSESSION & REHABILITATION
1. Land Acquisition Status
Under CBA (A&D) Act 1957, during the year 2022- 23, progress has been made in the following proposals for
acquisition of land under the said Act
SL Particulars Area (In Ha.)
1. CBA Sec 4(1) vide S.O-705 Dated 02nd August 2022 Rohini Kerketta Open Cast 1173.88 Ha
2. CBA Sec 4(1) vide S.O 801 Dated 14.09.2022 for Sirka OCP 92.91 Ha
3. CBA Sec 4(1) vide S.O-539(E)Dated 02.02.2023 for Pundi OCP 50.59 Ha
4. CBA Sec 4(1) vide S.O. 1397(E) Dated 23.03.2023 for Magadh OCP 23.03 Ha
5. CBA Sec 7(1) vide S.O-680 Dated 20th July 2022 Giddi "C" Open Cast 42.88 Ha
6. CBA Sec 7(1) vide S.O-3221 (E) Dated 18th July 2022 Govindpur Phase-II 178.31 Ha
7. CBA Sec 7(1) vide S.O 779 Dated 26.08.2022 for Jharkhand Laiyo OCP 108.10
8. CBA Sec 7(1) vide S.O-1188 Dated 15.11.2022 for Chandragupta OCP 170.72
9. CBA Sec 7(1) vide S.O-5558(E) Dated 30.11.2022 for Honhe Shivpur Road Under Amrapali
6.44 Ha
OCP
10. CBA Sec 9(1) vide S.O-645 Dated 8th July 2022 Kalyani" Open Cast 291.24 Ha
11. CBA Sec 9(1) vide S.O-3220 Dated 18th July 2022 Amrapali" Open Cast 107.32 Ha
12. CBA Sec 11(1) vide S.O-1077 Dated 05.11.2022 for Kalyani" Open Cast 291.24 Ha

• 12 nos. of gazette notification issued for land 5. Legal Case Disposal

acquisition under CBA(A&D) Act 1957. 52 nos. of land reference case have been settled, out
• CCL also took 5.5 Acres land from GoJ for the of which 39 cases got settled through Lok Adalat in
proposed super speciality hospital. Deed of FY 2022-23.
conveyance for the same is in progress
28. GEOLOGY DEPARTMENT
2. Employment
(i) Geological and other Services
In the FY 2022-23, L & R Dept. CCL HQ has disposed
211 nos. of employment proposals, out of which During the financial year 2022-23 the following are
161 nos. of appointment letters has been issued. the achievements. Majority of them being related to
exploration in CIL blocks of CCL Command Area &
3. Rehabilitation & Resettlement
production support mining services.
During the FY 2022-23, proposals of 321 PAF’s
1. Interaction with Regional Director & HOD
residing in 271 houses/structures was approved,
(Exploration), RI-III, CMPDI, Ranchi in respect
along with R & R Site development activities
of Location Plans of the running blocks where
consisting of INR 28.77 crore under R & R head.
exploration is being taken up in the CIL blocks of
4. Land Compensation (INR 527.91 Crores) CCL Command area through departmental as well
In the FY 2022-23, CCL has paid an amount of INR as outsourcing mode.
527.91 crore under land compensation head out 2. Monitoring of Geological, Geophysical (geophysical
of which INR 493.80 crore has been paid to Govt. logging, resistivity & VES survey) Exploration work
of Jharkhand as advance against acquired Govt. carried out in CIL Blocks of CCL Command area by
land, INR 12.83 crore for proposed Super Speciality RI-III, CMPDI, Ranchi through departmental as well
Hospital land, INR 19.38 crores has been paid to the as outsourcing means.
land owners against acquired tenancy land and INR
3. Performance of Geology Dept, CCL during financial
1.45 Crores and INR 0.45 Cores to Tribunal & DLAO
year 2022-23 are as follows:
respectively.

64
Performance of Geology Department, CCL- 2022-23
F.Y. 2022-23 Growth Growth
F.Y. 2021-22
over last over Target
Achievements Target Achievements year (%) (%)
Departmental (Meterage) 50535 54000 57828 14.43% 107.09%
Outsourced (Meterage) 7451 35000 31434 321.88% 90.0%
Total Meterage 57986 89000 89262 53.94% 100.29%
Capital Expenditure (Crore) 61.20 68.0 68.0 11.11% 100%
Geological Reports (GR) 2 3 3 50% 100%

• 53.94% growth has been achieved wrt Exploration 12. Training of two (02) students from Ranchi University
drilling in CCL command area at Geology Department, CCL.
• Rs 17.0crore has been allotted for 3D seismic survey (ii) Coal Reserves
but the work has not yet started in 2022-23 The geological reserves as compiled & computed by
• Additional drilling proposal of 6000 mt has been RI-III, CMPDI as on 01/04/2022 in Proved, Indicated
approved for the F.Y. 2022-23. and Inferred categories together within the CIL
4. Random vetting of Geological Report (GR) Bocks of CCL Command Area amount to 22708.02
Submitted by RI-III, CMPDI, Ranchi. The Geological Million tonnes. The details of coal reserves in CCL
Reports vetted are as follows: - command area are as under:
a. Dhadhu East (South), North karanpura Coalfield. (Fig. in Million tonnes)
b. Sayal D, South Karanpura Coalfield. Type of coal Proved Indicated Inferred Total
c. Pichri, East Bokaro Coalfield. Total Coal Reserve 17325.25 4991.95 390.82 22708.02
d. Rajbar ''A'', Auranga Coalfield. 29. INFORMATION & COMMUNICATION TECHNOLOGY
5. Processing of 79 nos. of CMPDI bills (up to 20.03.2023) CCL, in its constant endeavor for increased transparency
for carrying out exploration work including Coal and optimal utilization of its resources, has used ICT in
Testing & Geophysical bills in CIL Blocks of CCL several business processes of the company effectively for
command area through departmental as well as the satisfaction of its stakeholders.
outsourcing means.
The following key initiatives have been undertaken in FY
6. Field visit for Joint Measurement Certification of 102 2022-23:
nos. boreholes drilled in CIL Blocks of CCL Command
Area. 1. For business process integration, the world leading
ERP solution ‘SAP’ which was introduced last year at
7. 40 technical Committee meetings for deliberating CCL along with other subsidiaries of CIL, has stabilized
Outsourcing Proposals. for 7 implemented modules of SAP i.e. Production
8. Compilation of Coal reserves as per RI-III, CMPDI in Planning (PP), Project System (PS), Plant maintenance
CIL Blocks of CCL Command Area as on 01.04.2022. (PM), Human Capital Management (HCM), Finance
A total of 22708.02 M.T. of coal reserves is in CIL &Control (FICO), Material Management (MM) and
Bloacks of CCL command area. Total coal Inventory Sales & Distribution (SD) with active participation of
in India as on 1.04.2022 is 361411.46 M.T. users across the subsidiary.
9. Field visit for UG Coal Production & enhancement, 2. This year, Hospital Management System (HMS) an
High wall mining of coal and Coal Gasification in CCL Integrated solution for Medical services has been
Command areas. launched for 4 central hospitals of CCL with Photo
10. Interactions with R&D, UG, P&P, Operations, R I-III. Medical Card.
11. Providing drilling services as per requirement raised 3. For Tele-Medicine facility, Digital Dispensary at 11
by areas. A total of 8070 meters of drilling has been locations has been started across the subsidiary.
done by Topa (1141m) and Lapanga (6929m) drilling 4. In compliance of MHA guidelines, ‘Cyber Jagrookta
camp during financial year 2022-23. A total number Diwas’ has been organized across units of Subsidiary
of 26 tube wells have been drilled for meeting the for common awareness of people against Cyber
requirement of potable water in different Areas of CCL. Crime.

65
5. All the weighbridges (Road Sale & Internal transport) 30. SECURITY MANAGEMENT
functional across command areas of CCL have been The Security Department of Central Coalfields Limited
connected to Central SAP Server for seamless data (CCL) is a 24x7 functional department which monitors,
transfer with failsafe mechanism for network failures. controls and takes requisite preventive measures for
6. E-auction of coal, e-procurement of goods and curbing the menace of theft/pilferage of coal, illegal
services are operational through central service mining & protection of men and assets of the company.
provider of CIL. GeM portal is being used primarily In addition, “Khanan Prahari” a mobile based app is also
for e-Procurement of Goods & Services as per being used for prevention of illegal mining. The Security
availability. E-payment to employees & vendors and department has established a mechanism with round the
e-filing of grievances are in operation to embark clock monitoring of various ongoing activities at various
upon the business process through IT initiatives. mines/Projects and units.
CCL’s Security workforce comprises of Departmental
7. E-office application from NIC is operational across
Security personnel, Central Industrial Security Force
the subsidiary for enhanced business process
(CISF), State Industrial Security Force(SISF),Govt. of
management of the organization with an aim to
Jharkhand State and Home Guards from Jharkhand State
improve production, productivity and increased
to protect the assets and properties of the Company. The
transparency.
total strength of Security Force of CCL as on 31.03.2023 is
8. In-order to improve productivity & efficiency across as under: -
various business processes, Wide Area Network
Sl Type of Security Force Existing strength
(WAN) in failsafe redundant mode has been made
No (Nos.)
operational for effective SAP(ERP) implementation
along with LAN at offices and Central Hospitals at 1 Departmental Security 1561
CCL’s command areas. 2 Central Industrial Security Force(CISF) 1833

9. Corporate Mail Messaging System is in place and all 3 State Industrial Security Force(SISF), 272
Govt. of Jharkhand
officers of CCL have been provided with corporate
email introduced from CIL. 4 Home Guards, Govt. of Jharkhand 1975

10. Various in-house developed web/mobile Total 5641

application like Activity monitoring system at CMD's Presently, CISF is deployed at four Areas viz., 1. B&K(Kargali)
Dashboard for monitoring and analysing the jobs 2. Dhori 3. North Karnpura & 4. Piparwar. Induction of
assigned to departmental heads, Covid Test Report CISF in Magadh-Sanghmitra & Amrapali-Chandragupta
Portal, Portal for bringing transparency in quarter is under process. Approval from MHA, New Delhi has
allotment process, Bhisma Pitamah Portal for retired been obtained for creation of 1676 posts in Security
employees are operational. Web portal for Coal wing for induction of CISF at CCL Magadh-Sanghmitra &
India Marathon (2023) developed and launched for Amrapali-Chandragupta, Jharkhand for strengthening
seamless registration across country. Security setup in these two highly sensitive Areas of
11. Performance evaluation, Vigilance Information and CCL and e-payment towards security deposit of ₹ 41.48
annual Property Return of all executives is recorded Crs. is acknowledged by Accounts Officer/Recovery
through web enabled systems centrally managed by CISF New Delhi vide letter no. R-11013/लेखा/वसूली/
CIL. वीविधि/2022/1467 दिनांक 16/01/2023.
12. Committed for timely payment to its stakeholders, Re-survey of CISF CCL Kargali and NK & Piparwar Area
Payment Gateway of Bank through S.A.P introduced for additional deployment of CISF has been sent to the
last year is running successfully Director General, CISF Force Head Quarter, New Delhi for
consideration & approval.

The summarized data for the year 2022-23 of 13 Areas of CCL in respect of coal theft/pilferage is as under:-

Qty. Recovered Approx. Nos. of Nos. of Complaint FIR (Reg- Arrest Nos. of vehicle
in Tes. Value (₹.in incidents raid Lodged at Local istered) made blacklisted
Lakhs) Police station

1450.51 40.75 565 565 94 66 29 20

66
Successful raids conducted is the hallmark to an Security deptt. won the 1st prize / shield in “Rajya Bhasa” in
effective deterrence to malicious intentions. On Non-technical category for the FY 2022-23.
reporting of illegal coal mining inside the lease hold Coal India Marathon-2023 has been successfully
area of CCL, the Security department with the help of completed on 26/03/2023 by creating hindrance free route
local Police raids the place of occurrence & ensures for all four categories of marathon viz., Full marathon, Half
dozing off of the rat holes. 3443 numbers of rat holes marathon, 10 Km, & 5 KM without any inconvenience to
have been dozed off during FY 2022-23. normal public.
55 nos. of newly recruited employees were imparted basic
security training program & they are posted in different
areas of CCL for gainful utilization in Security cadre watch
& ward duties.
51 nos. Security personnel were promoted to next higher
grade during the FY 22-23.
20 nos. vehicles has been blacklisted for involvement in
illegal activities during FY 22-23.
106 nos. Security personnel has been rotated /transferred
from one area to other areas as per rotation policy/
guideline of sensitive posts during FY 22-23.

31. IMPLEMENTATION OF RAJBHASHA 2022-23

Department of Official Language: Activities and
Achievements
Central Coalfields Limited, a subsidiary of Coal India
located in Ranchi, the capital of Jharkhand, is located
in region 'A'. About 90 per cent of the personnel here
are equipped with working knowledge of the Hindi.
The Official Language Department of the Company
always works promptly for the implementation of the
Official Language Policy of the Government of India. The
The following approved SOPs have been circulated in instructions issued by the Ministry of Home Affairs and
command areas of CCL for prevention of theft/pilferage of
Ministry of Coal from time to time are fully complied with.
coal and illegal mining :
Quarterly meetings of Corporate Level Official
1. SOP for illegal mining.
Language Implementation Committee : As per
2. SOP for theft. the guidelines given by the Department of Official
3. SOP for theft of coal through Trucks Language, Ministry of Home Affairs and Ministry of Coal,
4. SOP for Road sale. Government of India, meetings of the Official Language
5. SOP for Coal dispatch. Implementation Committee are ensured every quarter
at all regional offices of the Headquarters and at the
I.T. initiatives have been implemented in command areas Corporate level at the Headquarters. In the year 2022-23,
of CCL to prevent pilferage/theft of coal. The details of quarterly meetings of corporate level Official Language
various I.T. enabled devices are as follows:
Implementation Committee were held on 22.06.2022,
CCTV cameras GPS in RFID Based Boom 29.08.2022, 05.12.2022, 21.03.2023 respectively.
installed (Nos.) vehicles Barriers (Nos.)
(Nos.) CCL's publications:
1687 3150 112 Central Coalfields Limited's home magazine 'Utkarsh' is
published in Hindi language. The magazine is published
E&T department has installed CCTV Cameras both in the by the Public Relations Department in collaboration with
field areas as well as in the residential colonies and office the Department of Official Language. The updated issue
premises for 24x7 real time monitoring and integrated the was released on November 1, 2022. Along with 'Utkarsh'
same with IVTs Control Room established at respective
magazine, CCL publishes an e-magazine 'Apni Baat' of CCL
Areas in order to provide Safety & Security to the
News every month.
Company’s property & assets.

67
CCL Hindi Kavyapaath Maala: Inspection of Official Language Implementation
In order to promote Hindi in CCL and to identify the The areas of CCL, centralized units and headquarters
hidden poetic talent within the personnel working in CCL departments are inspected from time to time and
a CCL Hindi Kavyapathmala (series of poetry recitations) appropriate advice is given to promote the use of official
language. During the year, the Department carried out
is being organised. Under this poetry series, so far two
official language implementation inspections of 12
chapters of poetry recitation has being organized through departments and 08 areas of the Headquarters.
the web.
Inspection of CCL Headquarters by Department of Rajbhasha Pakhwada - 2022 organized
Official Language, Ministry of Coal : In the financial year 2022-23, Rajbhasha Pakhwada was
organized at CCL Headquarters from 14th September
Deputy Director (Official Language), Department of Official
to 30th September in which officers and employees
Language, Ministry of Coal inspected CCL Headquarters of CCL Headquarters enthusiastically participated. Six
and area regarding official language implementation and competitions were organized for the promotion of official
prompt action is being taken on the suggestions received. language, out of which one competition was organized
Quiz competition organized under the aegis of TOLIC exclusively for non-Hindi speaking personnel. During the
(Undertaking), Ranchi : fortnight, the annual competition of CCL Kavyapathmala
was also organized.
The quiz competition was organized by CCL under the
The concluding--award distribution ceremony of
aegis of TOLIC (Undertaking), Ranchi on 24 January Rajbhasha Pakhwada was held on 30.09.2023 under
2023. A minimum of 2 participants from member offices the chairmanship of Chairman--Managing Director.
participated in the said competition. The quiz competition The winning participants were awarded mementos,
organized by CCL was appreciated by the participants. certificates along with the prize money prescribed by
Coal India. Around 100 participants were given incentive
Cash Reward Scheme: prizes.
In order to promote creativity and original Hindi writing of At the closing ceremony of Rajbhasha Pakhwada, the
the company's personnel, हिं दी मौलिक पुस्तक लेखन प्रोत्साहन योजना, eminent litterateur of the state was awarded the CCL
सीसीएल has been launched from FY 2021-22. To promote Rajbhasha Bhaskar Samman-2022.
official work in Hindi, an incentive scheme has been
Other activities for promotion:
started as मूल रूप से हिन्दी में पत्राचार टिप्पण आलेखन व अन्य कार्या लयीन
कार्य करने संबंधी प्रोत्साहन योजना.
• In order to develop a spirit of healthy competition
for official language implementation, rajbhasha
Purchase of books: In the financial year 2022-23 under chal-shield is awarded to the best implementing
review, the Department of Official Language, CCL departments/sectors during the quarter.
purchased books in Hindi language on various subjects. • A link to various technical and administrative
dictionaries has been made available on the CCL
Official Language Training and Workshops: website by the Department of Official Language.
In order to promote official language implementation • The main page of CCL's website is being updated
in CCL, 5 official language training workshops were daily ' Today's Word' .
organized for training of personnel. During the last one • For official language related assistance to the
year, the Department of Official Language in collaboration personnel, 'Rajbhasha Sahayika' has been made
with the Department of Human Resource Development, available under the official language tab of CCL's
CCL has issued an order dated 29.06.20222, 07. Official website.
Language Workshop was organized on 09.2022, • Also, an 'Office Assistant' booklet has been prepared
19.09.2022, 22.12.2022, 28.03.2023 in the auditorium compiling the difficult words used daily in various
departments of the office. The said booklet is
located at CCL Headquarters. available under the Official Language tab on CCL's
In these workshops, training was given on technical website.
facilities, the subject of which was Unicode supported • All officers/employees working on computers in
Hindi typing, typing by speaking, machine translation etc. the company are trained in Unicode enabled Hindi
Apart from this, theoretical and practical training on office typing system at their workplace.
Hindi was given. In addition, 'desk-training' and bilingual • The instructions received from time to time by the
installation of computers were supported in various competent authority regarding the implementation
departments of the headquarters. of official language are complied with.

68
32. VIGILANCE DEPARTMENT E. No. of Cases in which penalty imposed:
A. Total No. of complaints received and action taken No. of Cases in which penalty Year 2022-23
thereon: imposed Cases No. of
Complaints Year persons
2022-23 Major:
Pending complaints on 1st April 2022 93 Completed 18 48
No. of complaints received during the 445 Part action 1 2
period 1st April 2022 to 31st March 2023
Minor:
No. of complaints filed being anonymous/ 129
Pseudonymous/ filed. Completed 2 3
No. of complaints taken up for examination/ 263 Part action 0 0
verification during the period 1st April 2022
F. Surprise Checks conducted during the year
to 31st March 2023
2022-23:
No. of complaints forwarded to HODs/ GMs 59
for taking needful action Year Surprise Checks Converted
conducted into Regular
B. Cases under Regular Investigation (RI Cases): Investigation
Year 2022-23
Investigation cases Year 2022- (1st April 2022 to 06 01
23 31st March 2023)
Pending cases on 1st April 2022 8 G. Cases under Intensive Examination (ITE Cases):
Cases taken up for investigation during 21
Year Surprise Checks Converted into
the period 1st April 2022 to 31st March
conducted Regular Investi-
2023
gation
No. of investigations completed during 20
the period 1st April 2022 to 31st March Year 2022-23 05 00
2023

Cases pending on 31st March 2023 9 H. Scrutiny of Property Returns of Executives:

C. Number of cases taken up for Disciplinary action Year (2022-23) No. of scrutiny
(RDA Cases): carried out
Year 2022-23
No. of cases taken Cases Year 2022-23
(1st April 2022 to 460
up for Disciplinary No. of persons 31st March 2023)
action (RDA Cases)
Major Minor
PP PP I. AGREED LIST / ODI LIST are being prepared at the
beginning of every year.
Major 7 16 5
Minor 1 - 2 J. During the course of investigation of complaints
and while undertaking Surprise Checks by Vigilance
D. Departmental Enquiry Department, on the basis of irregularities detected
in the prevailing system, preventive measures are
No. of departmental Year 2022-23
inquiries completed recommended to the competent authority for
Cases No. of System Improvement.
persons
System Improvement recommended during the
Completed 13 32
Financial Year 2022-23 to reduce the opportunities
Part action 7 34 for corruptions:

69
 l System improvement regarding banning of citizens, etc. to take e-pledge. For the purpose, a
firms from participating in tenders. hyper link to www.cvc.nic.in for “Integrity- Pledge "
l System improvement measures for developing was activated on CCL website and 4 no. of “e-pledge
web page interface for uploading information booths” were also set up at CCL (HQ) and Areas of
of e-auction noticed by M&S department. CCL to facilitate the officers, staff, workers, citizens
l System improvement measures for timely (vendors, contractors, contractual workers, etc.) for
settlement of medical claims in CPRMSE & taking e-pledge. This year around 1700 people took
CPRMSNE. epledge.
l System improvement measures in BOO tenders l Vigilance Awareness Rath:
for washeries. On 31.10.2022, CVO, CCL and Functional Directors of
l System improvement in dealing with seriously CCL flagged off the “Vigilance Awareness Rath” from
unbalanced bid in tenders and maintenance of CCL (HQ). The Rath (vehicle) covered all around with
measurement books. display banners with anti-corruption and awareness
slogans, pictures, messages, etc. imprinted on it
l System improvement measures regarding Road
traversed through the residential areas of Ranchi. It
Sale Guidelines, 2009.
was also replicated in 12 Areas and 5 independent
l System improvement in maintenance of units located in 8 Districts (Ranchi, Ramgarh,
Hindrance Register in more scientific and Hazaribagh, Bokaro, Giridih, Chatra, Latehar, Palamu)
systematic way. spanning over 2600 Sq. KM.
K. Observance of Vigilance Awareness Week-2022 l Vigilance Awareness March:
In compliance with the directives of Central Vigilance After flagging off the Rath, a Vigilance Awareness
Commission, New Delhi, Vigilance Awareness Rally was organized at CCL (HQ), Ranchi to raise
Week-2022 was observed with much fervor and public awareness regarding the existence, cause
enthusiasm in all the units, Areas and Headquarters and threat posed by corruption. There were around
of CCL from 31.10.2022 to 06.11.2022. This year’s 300 participants in the rally holding placards with
awareness campaign was started by CCL Vigilance thought provoking slogans. The march was flagged
with Mass Pledge at Darbhanga House, CCL off by the CMD, CCL, Shri P.M. Prasad. The Functional
l Pledge: Directors of CCL along with CMD, CCL participated in
The observance of Vigilance Awareness Week 2022 this march. The above campaign was also replicated
commenced with taking of Integrity Pledge by all in all the 12 Areas of CCL. In addition, several March,
the employees at CCL (HQ), Ranchi as well as in all Morning ‘Prabhat Pheri’, etc. involving students from
the Areas and Projects/ units of CCL.At CCL (HQ), various schools were also organized in different
the pledge was administered by the CVO, CCL, Areas of CCL.
Director (Finance), CCL, Director (personnel), CCL, l Different activities at Sarla Birla University:
and Director (Technical/PP), CCL on 31.10.2022. The To spread the awareness program beyond CCL, the
message of the Hon’ble President of India, Hon’ble campaign was widely disseminated to several parts
Vice President of India and Hon’ble CVC regarding of the city. On 3rd of Nov different activities such as
observance of Vigilance Awareness Week were also Debate, Elocution, Essay writing, Dance, Singing,
read out by the CVO and Functional Directors of CCL. Painting, Rangoli, NukkadNatak competitions were
In fact, to encourage all the employees and other organized with this year’s theme “Corruption free
stakeholders to collectively participate in the India for a developed Nation” in Sarla Birla University.
prevention of and fight against corruption, the l Events organized at CCL(HQ), Ranchi for
measure of administering, Integrity Pledge was Management Trainees:
started well before the Vigilance Awareness Week
2022. This activity was not limited to HQ and field A special program was organized on 4th Nov to
units but also organized at various other places like enhance sensitization amongst the newly recruited
schools, college, etc. Management Trainess in Darbhanga House where
all MTs of CCL were invited. Few of our Vigilance
l e-pledge: Officers apprised them about CDA rules, Vigilance
All out efforts were made to motivate and influence Manual, Certified Standing Orders and Disciplinary
the employees as well as customers, contractors, proceedings.

70
 l Events organized at DAV Gandhinagar and (ii) On 06.11.2022, the concluding day of Vigilance
KV Rajendranagar Awareness Week 2022, prize distribution
Various events were organized at DAV Gandhinagar ceremony was conducted in DAV Gandhinagar
and KV Rajendranagar such as: and KV Rajendranagar felicitating the top 3
winners in each event organized by the schools.
Ø essay writing
l Awareness Gram Sabha : 9 Awareness Sabhas
Ø debate, were organized in 6 Areas and 2 independent unit
Ø elocution of CCL.The sabhas was attended by the Mukhiya,
Ø painting competitions Sarpanch, villagers, students, etc. During the
Ø quiz Awareness Sabhas, Mass-pledge was administered
to the villagers and awareness was created on the ill
l Vigilance Awareness Week was celebrated effects of corruption
in the 12 different Areas of CCL and 5 l Awareness through Message in CUG Mobile
independent units. & Social media (Twitter)
The observance of Vigilance Awareness Week in the CCL Vigilance left no stone unturned in creating
different Areas of CCL also commenced with the awareness during the week and adopted some
pledge ceremony on 31 October 2022 at 11.00 AM. innovative ways to further sensitize the officials of CCL.
The pledge was administered by the Area GM/ the (i) All the activities along with photographs were
senior-most officer of the Unit/Area. Banners and uploaded on the official website of CCL.
posters containing thought-provoking slogans were (ii) In this direction, inspirational messages were
displayed at conspicuous places in all the units/ sent to the CUG Mobile of officials on each day
offices/areas. The Vigilance awareness rally was also during the Vigilance Awareness Week.
organized in all the above Areas of CCL. (iii) Photographs of Major events alongwith themes
In order to inculcate good values and ethics in were also uploaded on the official Twitter,
the minds of school children, Debate/ Elocution/ Instagram, & Facebook account of CCL.
Speech, Painting/Poster making, Skit, Essay writing (iv) Coverage of the events was also given in the
competition, etc were organized in different schools leading newspapers having wide circulation in
at Area level. Integrity Clubs were also formed in 8 the state.
no. of schools. 33. RIGHT TO INFORMATION STATUS
l Workshops/ Seminars at CCL(HQ) and Under the RTI Act’2005, the details of application
different Areas: dealt during the year 2022-23 are given below:
CCL Vigilance organized following no. of workshops 1. No. of Applications received: 675
& seminars during Vigilance Awareness Week: 2. No. of Applications disposed 407
(i) Workshop for management trainees: 3. No. of Applications under process 11
A special program was organized on 4th Nov 4. No. of Applications transferred under Para
to enhance sensitization amongst the newly 6(3) of RTI Act-2005 252
recruited Management Trainees in Darbhanga Status of RTI application transferred under para (3)
House where all MTs of CCL were invited. Few of RTI Act’2005,as on 31.03.2023
of our Vigilance Officers apprised them about
• Transfer to other Organization/Public
CDA rules, Vigilance Manual, Certified Standing Authority 46
Orders and Disciplinary proceedings.
• Transfer to concerned Area/Areas (Public
The above workshops ended with very vibrant Authority)
interactive session and queries raised by (Information sent to the applicant-154; 206
the participants/ vendors/ contractors were Reminder Issued-52)
adequately replied. 5. No. of Applications rejected 05
Also, a copy of Vigilance Manual 2021, CDA 6. Whether any penalty awarded by CIC to any
Rules and Yellow book were also distributed executive of CCL under RTI Act-2005 NO
among the newly recruited.

71
34. INFORMATION UNDER THE SEXUAL HARASSMENT TO 37. CORPORATE GOVERNANCE
WOMEN AT WORKPLACE Your Company, as a subsidiary of Coal India Ltd., believes
An Internal Committee is functioning in CCL in that great companies are built upon a rich legacy of fair,
terms of Sexual Harassment of Women at Workplace ethical and transparent governance practices, many of
(Prevention, Prohibition and Redressal) Act, 2013. which were in place even before they were mandated
The order of the Constitution of the Committee has by adopting highest standards of professionalism,
been uploaded in the Women Empowerment portal
honesty, integrity and ethical behaviour and other good
of CCL website. With reference to Section 22 of the
Sexual Harassment of Women at Workplace Act, governance practices. As a Subsidiary of a Maharatna
2013 the information pertaining to FY 2022-23 is as Company (Coal India Ltd.), the Corporate Governance
follows: practices followed by the Company are compatible with
standards and best practices. Corporate Governance is
Complaints Cases Disposed Action Taken
all about effective management of relationships among
received
constituents of various stakeholders– shareholders,
Nil Nil NA
management, employees, customers, vendors,
35. SUBSIDIARIES, ASSOCIATES & JOINT VENTURE regulatory authorities and the community at large. Your
COMPANIES FOR FY 2022-23 company strongly believes that this relationship can be
Jharkhand Central Railway Limited is a Joint Venture strengthened through corporate fairness, transparency
Company between Central Coalfields Limited, and accountability. Your Company places prime
IRCON International Limited and Govt. of Jharkhand. importance on reliable financial information, integrity,
The company was formed under Companies Act transparency, empowerment and compliance with the
2013. The shareholding pattern of JCRL is as under: laws in letter and spirit.
Name of Promoter entitles Share Holding A report on Corporate Governance is placed at Annexure-I
Pattern and a certification from Auditors regarding compliance of
Central Coalfields Limited 64% conditions of Corporate Governance by your company
M/s IRCON International Limited 26% for the year ended 31st March 2023 is also placed at
Govt. of Jharkhand 10% Annexure-II to this report.
Pursuant to office order no. CIL: IX(D): 04007: 2010: 1856
The authorized share capital of the JCRL is ₹ 500.00 Crores.
Jharkhand Central Railway Limited was incorporated on dtd.30.11/01.12.2010 of CGM(F)/Company Secretary, CIL,
31.08.2015 to take up the project of Shivpur – Kathautia the Code of Conduct for prevention of Insider Trading as
new BG Electrified Rail Line – 49.085 Km (1799.64 Cr). The per Reg 12(1) of the SEBI (Prohibition of Insider Trading)
detailed information of JCRLis provided at Annexure XIII Regulations 1992 and as amended in 2018 & 2019, is
of this report. approved by CIL Board in its 390th Board Meeting held
on 13th August 2019. This policy is being updated from
36. PERFORMANCE AGAINST MOU PARAMETERS
time to time by CIL as per the SEBI notifications and
The Memorandum of Understanding (MOU) between
being adopted by all its subsidiaries, has been circulated
CMD, CCL and Chairman, CIL for every financial year is
signed in line with the guidelines of Department of Public among the designated employees of the Company, which
Enterprises (DPE), Ministry of Heavy Industries and Public includes Directors, Chief Vigilance Officer, all Executive
Enterprises, Government of India for rating of CPSEs. Directors, all CGM’s & GM’s and all executives working in
Based on the actual performance of all parameters both the designated departments of the Company.
financial and non-financial during the financial year 2021- Grading on the basis of compliance with guidelines on
22, MoU Composite Score of CCL was 91.99% with the
Corporate governance issued by DPE is as under:
rating “Excellent” and evaluation for Financial Year 2022-
23 is under process.

MoU 2022-23 MoU 2022-23

Sl. Parameter
target for Excellent rating Actual Achievement
Grading on the basis of compliance with guidelines
1. 85 and above 91.11
on Corporate governance issued by DPE

72
38. AVAILABILITY OF ANNUAL REPORT AND ACCOUNTS AT Act, 2013 shall not apply since the performance of
H.Q. FOR INSPECTION BY SHAREHOLDERS Directors is evaluated by the Ministry of Coal which
The Annual Accounts of CCL and the related is administratively incharge of the Company.
detailed information has been made available to 41. DEPOSITS UNDER THE PROVISIONS OF
the shareholders of the Holding and Subsidiary COMPANIES ACT
Companies seeking such information at any point of The Company has not accepted any deposit, in
time. The Annual Accounts of CCL has also been kept terms of the directives issued by the Reserve Bank of
for inspection by any Shareholder in the Head Office. India and the provisions of Sections 73 to 76 or any
other relevant provisions of the Companies Act and
Hence, in compliance with the General Circular
the rules framed there under.
No. 2/2011 dated 8th February, 2011 issued by
42. DIRECTORS’ RESPONSIBILITY STATEMENT:
the Ministry of Corporate Affairs, Government of
India, New Delhi and subsequent letter No. CIL: XI Pursuant to the requirement under Section 134(5) of
(D):04032:2011:2255 dated 8th March, 2011, the the Companies Act 2013, with respect to Directors’
Responsibility Statement, it is hereby confirmed:
Accounts of CCL has been made available at Ranchi
(HQ) for providing information to the shareholders 1. That in the preparation of the Financial Statement
of CIL on demand. for the financial year ended 31st March 2023, the
Uniform Accounting Policy approved by CIL, the
39. BOARD COMPOSITION Holding Company, has been followed. The said
uniform Accounting Policy has been drawn in
The Company is a Government Company under the
accordance with the Indian Accounting Standards
administrative control of the Ministry of Coal, Government
(Ind AS) notified under the Companies (Indian
of India. The Directors are nominated/appointed by the
Accounting Standards) Rules 2015.
Government of India.
2. The Financial Statements have been prepared on
During the year under reference 13 (Thirteen) meetings historical cost basis, except for
of Board of Directors of CCL were held. Your Company had
- Certain financial assets and Liabilities measured
the following Directors on the Board, as on 31.03.2023 at fair value.
Functional Directors: - Defined benefit plans – plan assets measured at
fair value.
1. Shri P.M. Prasad, CMD, CCL - Inventories at cost or NRV whichever is lower.
2. Shri Ram Baboo Prasad, Director (T/O), CCL 3. That the Directors have selected such accounting
3. Shri Pawan Kumar Mishra, Director (Fin.), CCL policies and made judgements and estimates that
4. Shri B. Sairam, Director (Tech./P&P), CCL were considered reasonable and prudent so as to
give a true and fair view of the state of affairs of the
5. Shri Harsh Nath Mishra, Director(Pers.), CCL Company at the end of the financial year and of the
profit and loss of the Company for the year under
Official Part Time Directors:
review.
1. Shri Ajitesh Kumar, Director, MoC, GoI, New Delhi
4. That proper and sufficient care for the maintenance of
2. Shri Vinay Ranjan, Director (P&IR), CIL adequate accounting records in accordance with the
provisions of the Companies Act 2013, for safeguarding
Non-Official Part Time Directors: the assets of the Company and for preventing and
1. Shri Ramesh Kumar Soni, CA detecting fraud and other irregularities.
Details of the changes in the Board/ Key Managerial 5. That the Financial Statements for the financial year
Personnel of the Company during the year is given at ended 31st March 2023 have been prepared on ‘going
point no. 2 of the Corporate Governance Report placed concern’ basis by assessing Company’s ability to
at Annexure-I continue as going concern, disclosing, as applicable,
matters related to going concern and using the going
40. ANNUAL EVALUATION OF BOARD, COMMITTEE concern basis of accounting.
AND DIRECTORS PERFORMANCE 6. That the system of internal financial controls is
Your company being registered as private limited adequate and is operating effectively.
company and not listed with any stock exchange, 7. That the system has been developed for compliance
the provisions of section 134 (3)(p) of the Companies

73
 of all applicable laws and that such systems were of the same is provided at point no. 5 in the Corporate
adequate and operating effectively. Governance Report placed at Annexure I Company has
43. LOANS, GUARANTEES AND INVESTMENTS obtained 'Secretarial Audit Report' for the year 2022-23
UNDER SECTION 186 OF THE COMPANIES ACT: in form MR-3 and the response to their comment was
enclosed in Annexure-III.
Particulars Amount Purpose
Internal Auditors:
A Loans to any person or 5.81 Loan to Employee
Body Corporate for House Building The Internal Auditors were appointed by the Central
and Car purchase Coalfields Ltd. Board in its 488th Board Meeting held on
B Guarantee or security NIL 06.07.2020 for the year 2020-21 to 2022-23. The details
provided in connection of the same is provided at point no. 5 in the Corporate
with a loan to any Governance Report placed at Annexure I.
other body corporate or 46. COST AUDIT REPORT
person
The Company is maintaining Cost Accounting Records
C Investment by way 345.53 Investment in
of subscription, Equity Shares
in accordance with Section 148(1) of the Companies Act,
purchase or otherwise, of Subsidiary
2013 read with the Companies (Cost Records and Audit)
the securities of Company in form Rules, 2014. The Cost Audit Report for the year 2021-22
any other body of Equity Share of ₹ has been filed under XBRL mode within due date of filing.
corporate 64.63 Cr and Quasi The Cost Audit Report for the year 2021-22 contains no
Equity of ₹ 280.90 qualification or adverse comments. The Cost Audit Report
Cr. for the year 2022-23 is in process of finalization and will be
filed within prescribed date of filing.
44. INSOLVENCY AND BANKRUPTCY CODE 2016
47. MANAGEMENT EXPLANATION ON AUDITOR’S
There were no Significant and Material Orders passed by REPORT:
the Regulators or Courts or Tribunals impacting the Going
Concern status and the Company’s Operations in future, a. Management Explanation on Statutory Auditor’s
and no application was made or proceedings pending Report:
under Insolvency and Bankruptcy Code, 2016. Comments issued by the statutory auditors of the
company on the Financial Statements of the company
45. AUDITORS OF THE COMPANY:
for the financial year 2022-23 under section 143(5) of the
Statutory Auditors: Companies Act, 2013 have been adequately explained in
Under Section 139 of the Companies Act, 2013 the the respective notes/footnotes in the account along with
Statutory Auditors were appointed by the Comptroller management explanation.
and Auditor General of India for auditing the Financial b. Supplementary Audit of Financial Statements by
Statements of your Company for the Financial year 2022-
Comptroller and Auditor General of India (C&AG):
23. The details of the same is provided at point no. 5 in the
Corporate Governance Report placed at Annexure I. Comments issued by the office of the C&AG on Financial
Statements of the company for the year 2022-23 on
Cost Auditors: supplementary audit conducted under section 143(6)
As per Companies Act, 2013 the Cost Auditors were (a) [and also read with Sec 129(4)] of the Companies
appointed by the Board of Directors in its 519th Board Act, 2013, along with management explanation are also
Meeting held on 26.09.2022 for conducting Cost Audit of annexed.
your Company for the Financial year 2022-23, 2023-24 & 48. INTERNAL FINANCIAL CONTROL SYSTEM
2024-25. The details of the same is provided at point no. 5
in the Corporate Governance Report placed at Annexure I. The Company has in place adequate Internal Financial
Controls with reference to financial statements. During
Secretarial Auditor: the year, to make sure that assets are protected and that
Under Section 204 of the Companies Act, 2013 the company’s activities are conducted in accordance with
Secretarial Auditor was appointed by the Board of the organization’s policies and procedures, such internal
Directors in its 515th Board meeting vide item No. 4(5) controls were tested and no reportable material weakness
dated 14.05.2022 for conducting Secretarial Audit for the in the design or operation were observed in the C&AG
Financial year 2021-22, 2022-23 and 2023-24. The details Audit, Internal Audit and Statutory Audit.

74
49. BOARD COMMITTEES: 3. Shri B. Sairam,
A. Audit Committee of Directors Director (Tech/P&P), CCL - Member
The constitution of the Audit Committee of Directors as 4. Shri S.R. Talankar,
on 31.03.2023 is as follows:
GM(Oprn.) - Chief Risk Officer
1. Shri Ramesh Kr Soni, 
The details of attendance of Members at the Risk
Non-Official Part-time Director - Chairman
Management Committee meetings of the company
2. Shri Vinay Ranjan,
held during the year 2022-23 is given in Corporate
Director (P&IR), CIL - Member
Governance Report at point no 4.
3. Shri Ajitesh Kumar, - Member
D. Human Resource Committee:
Official Part-time Director
The constitution of the Human ResourceCommittee
4. Shri Pawan Kumar Mishra, - Permanent Invitee
as on 31.03.2023 is as follows:
Director (Fin), CCL
1. Shri Ramesh Kr. Soni,
The details of attendance of Members at the Audit
Committee meetings of the company held during Non-Official Part-time Director - Chairman
the year 2022-23 is given in Corporate Governance 2. Shri Vinay Ranjan,
Report at point no 4.
Director (P&IR), CIL - Member
B. Sustainable Development/Corporate Social
Responsibility Committee: 3. Shri B. Sairam,
The constitution of the Sustainable Development / Director (Tech./P&P), CCL - Member
Corporate Social Responsibility Committee as on
4. Shri Harsh Nath Mishra,
31.03.2023 is as follows:
1. Shri Ramesh Kr. Soni, Director(Pers.), CCL - Member

Non-Official Part-time Director - Chairman The details of attendance of Members at the Human
2. Shri Vinay Ranjan, Resource Committee Meetings of the Company
Director (P&IR), CIL - Member held during the year 2022-23 is given in Corporate
3. Shri Pawan Kumar Mishra, Governance Report at point no 4.

Director (Fin.), CCL - Member 50. COMPLIANCE OF DPE GUIDELINES

4. Shri Harsh Nath Mishra, DPE has issued guidelines/rules/procedures, which are
Director (Pers.), CCL - Member to be followed by every CPSE and in the end of Financial
The details of attendance of Members at the Year, compliance/non-compliance certificate stating the
Sustainable Development/ Corporate Social reasons thereof are to be sent to Ministry of Coal by 30th
Responsibility Committee meetings of the company of April of the succeeding year.
held during the year 2022-23 is given in Corporate
Governance Report at point no 4. In line with the above, your company had sent the
C. Risk Management Committee: certificate of compliance/non-compliance to Ministry of
Coal for the Financial Year 2022-23.
The constitution of the Risk Management
Committee as on 31.03.2023 is as follows: 51. MATERIAL CHANGES AFFECTING FINANCIAL
1. Shri Ramesh Kr. Soni, POSITION

Non-Official Part-time Director - Chairman No such material changes and commitments occurred
between the end of the Financial Year and the date of
2. Shri Ram Baboo Prasad,
report which may affect the financial position of the
Director (Tech./Opn), CCL - Member
Company.

75
52. SECRETARIAL STANDARDS h t t p s : / / w w w . c e n t r a l c o a l fi e l d s . i n / i n d s k /
pdf/policy/Policy_on_determination_
Your Company has devised proper systems to ensure
of%20_M ater ialit y_under_SEBI_LODR_%20
compliance with the provisions of all applicable
Regulations_2015__03042017.pdf
Secretarial Standards issued by the Institute of Company
Secretaries of India and that such systems are adequate (vi) Declaration of Independent Director under Sub
and operating effectively. Section (6) of Section 149, pursuant to 134(3)(d) of
the Companies Act, 2013.
53. ANNUAL RETURN
https://www.centralcoalfields.in/ccl_admin/dept_
Pursuant to Section 92(3) read with Section 134(3)(a) of
circular_upload/file/15.pdf
the Companies Act, 2013, copy of the Annual return of the
company prepared in accordance with Section 92(1) of 56. ACKNOWLEDGEMENT:
the Act read with Rule 11 of the Companies (Management Your Directors express their sincere thanks to the
and Administration) Rules, 2014 may be accessed on the Government of India in general and Ministry of Coal
company’s website at https://www.centralcoalfields.in/ and Coal India Limited in particular for their valuable
guidance and unstinted support to your Company
ccl_admin/dept_circular_upload/file/20.pdf
towards attainment of the objectives of the Company.
54. FRAUD REPORTING Your Directors also thank the Government of Jharkhand
and other State Governments for their co-operation and
No fraud has been reported by the Auditors under Section
valuable assistance extended to your Company. Your
143(12) of the Companies Act, 2013 during the year under
Directors convey their thanks to all the employees of
report.
the Company for their whole-hearted co-operation and
devotion to duty.
55. IMPORTANT WEBLINK
Your Directors are fully confident that the employees of
The following policies of the company may be accessed all ranks would continue to strive hard to improve the
on your Company’s website: performance of the Company in the coming years. Your
(i) Web-link for CSR committee, CSR Policy and CSR Directors also acknowledge, with thanks, the assistance
projects approved by the board : and guidance rendered by the Statutory Auditors, Tax
Auditors, the Comptroller & Auditor General of India and
Web Link: https://www.centralcoalfields.in/sutbs/
the Registrar of Companies, Bihar & Jharkhand.
sdcsr.php
57. ADDENDA:
(ii) Vigil Mechanism:
The following papers are annexed hereto for your
h t t p s : / / w w w . c e n t r a l c o a l fi e l d s . i n / v g l n c / consideration:
pdf/21_02_2020_whistle_blower_policy.pdf
Addendum to the Directors’ Report pursuant to Section
(iii) Code Of Conduct To Regulate, Monitor And Report 134 of the Companies Act, 2013 giving:
Trading By Designated Persons Of Coal India Limited: i. Corporate Governance for F.Y. 2022-23 Annexure-I
https://ww w.centralcoalfields.in/indsk/pdf/ ii. Certificate on compliance of Corporate Governance
policy/02_07_2021_code_of_conduct.pdf  Annexure-II
(iv) Related Party Transaction Policy: iii. Secretarial Audit Report for the Financial year ended
https://www.centralcoalfields.in/indsk/pdf/policy/ 31st March, 2023  Annexure III
related_party_policy.pdf iv. Comments of the Comptroller and Auditor General
(v) Policy on determination of Materiality under of India under section 143(6)(b) of the Companies
SEBI(LODR) Regulations, 2015 Act, 2013 on the standalone and consolidated

76
 financial statements of Central Coalfields Limited for outgo as per section 134 (3m) -  Annexure VII-IX
the year ended 31st March 2023 and Management’s viii. Annual Report of CSR activities for financial year
reply thereon.  Annexure IV 2022-23 Annexure X
ix. Disclosure of particulars of contracts/ arrangements
v. CEO & CFO Certification  Annexure V
entered into by the company with related parties
vi. Information as per Rule 5 of Appointment & (AOC-2)  Annexure XI
Remuneration of Managerial Personnel Rules, 2014 x. Report on the Performance and Financial position of
under chapter XII Annexure VI each of the Subsidiaries, Associates & Joint Venture
Companies  Annexure XII
vii. Information on Conservation of energy, details
xi. Management Discussion and Analysis Report
about research and development activities of the  Annexure XIII
Company and details of foreign exchange earning &

For & on behalf of the Board of Directors

Sd/-
(B. Veera Reddy)
Chairman-cum-Managing Director
DIN No. - 08679590
Central Coalfields Limited

Date : 26.07.2023
Place : Ranchi

77
 ANNEXURE – I
REPORT ON CORPORATE GOVERNANCE
1. PHILOSOPHY It is not merely compliance and simply a matter of
CCL management continues to strive for excellence in creating checks and balances; it is an ongoing measure
good governance and responsible management practices. of superior delivery of Company’s objectives with a view to
Corporate Governance at CCL is based on the following translate opportunities into reality. It involves leveraging
main principles: its resources and aligning its activities to national need,
shareholders benefit and employee growth, thereby
1. Constitution of a Board of Directors of appropriate
delighting all its stakeholders, while minimizing the risks.
composition, size, varied expertise and commitment
The primary objective is to create and adhere to a corporate
to discharge its responsibilities and duties,
culture of conscience and consciousness, transparency
2. Ensuring timely flow of information to the Board and openness, fairness, accountability, propriety, equity,
and its Committees to enable them to discharge sustainable value creation, ethical practices and to develop
theirfunctions effectively, capabilities and identify opportunities that best serve the
3. Independent verification and safeguarding integrity goal of value creation, thereby creating an outperforming
of the Company’s financial reporting, organization.
4. A sound system of risk management and internal 2. BOARD OF DIRECTORS
control, The Board of Directors of your Company as on 31st
5. Timely and balanced disclosure of all material March, 2023 comprised of Eight (8) Directors, viz. five (5)
information concerning the Company to all Functional Directors (including CMD), two (2) Part-Time
shareholders, Official Director, one (1) Non-Official Part-TimeDirectors.

6. Transparency and accountability, During the financial year ended March 31st, 2023,
13 (Thirteen) nos. of Board meetings were held
7. Compliance with all the applicable rules and
on 29.04.2022, 14.05.2022, 04.07.2022, 31.07.2022,
regulations,
31.08.2022, 26.09.2022, 10.10.2022, 28.10.2022,
8. Fair and equitable treatment of all its stakeholders 23.11.2022, 21.12.2022, 17.01.2023, 25.01.2023 &
including employees, customers, shareholders and 24.03.2023. Thus, the maximum time gap between
investors. consecutive Board meetings was not more than two
Your Company as a Corporate Citizen believes in adhering calendar months.
to the highest standards of Corporate Governance. CCL The details of the composition of Board of Directors,
provides appropriate access to information to the citizens Director’s attendance at the Board meeting, number of
of India under the provision of the Right to Information Directorship in other Companies and membership in
Act, 2005. other committees, etc. during the year are as follows:

78
 Board meetings (Committee
meetings are mentioned
separately) No. of other
Sl. Name & Designation Category
Directorships
Held
Attended
during tenure
Shri P. M. Prasad,
1. Functional Director 13 13
Chairman-cum-Managing Director Nil

Shri Ajitesh Kumar, Official

2. 1 1 Nil
Director, MoC, Govt. of India* Part-Time Director
Ms. Santosh, Official
3. 12 10 Nil
Dy. Director General, MoC, GoI** Part-Time Director

Shri Vinay Ranjan, Official • CIL

4. 13 12
Director (P&IR), CIL Part-Time Director • WCL
• MCL
• MJSJ
Shri K.R. Vasudevan, Coal Ltd
6. Functional Director 2 2
Director (Finance), CCL^ • MNH
Shakti
Limited
Shri Pawan Kumar Mishra,
7. Functional Director 11 11 JCRL
Director (Finance), CCL^^
Shri Ram Baboo Prasad,
8. Functional Director 12 12 Nil
Director (Tech./Oprn.), CCL^^^

Shri S.K. Gomasta, • CMPDIL

10. Functional Director 7 7
Director (Tech./P&P), CCL $
• JCRL
Shri B. Sairam,
11. Functional Director 6 6 • JCRL
Director (Tech./P&P), CCL$$
Shri P.V.K.R. Mallikarjuna Rao
12. Functional Director 4 3 • BCCL
Director (Pers.), CCL#
Shri Harsh Nath Mishra,
13. Functional Director 9 9 Nil
Director (Pers.), CCL##
Shri Harbans Singh, Non-Official
14. 3 3 Nil
Ex-Director General Apex, GSI Part-time Director
Smt. Jajula Gowri, Non-Official
15. 3 3 Nil
Advocate + Part-time Director
Shri Ramesh Kumar Soni Non-Official
16. 13 13 Nil
Chartered Accountant ++ Part-time Director

79
* Shri Ajitesh Kumar, Director, MoC assumed charge as Part-time Official Director on 22.02.2023

** Ms. Santosh, Dy. Director General, MoC relinquished charge as Part-time Official Director on 22.02.2023

^ Shri K.R. Vasudevan relinquished additional charge as Director (Fin.), CCL on 10.06.2022

^^ Shri Pawan Kumar Mishra assumed charge as Director (Fin.), CCL on 10.06.2022

^^^ Shri Ram Baboo Prasad, assumed charge as Director (Tech./O), CCL on 14.05.2022

$ Shri S.K. Gomasta, relinquished additional charge as Director (Tech./P&P), CCL on 26.10.2022

$$ Shri B. Sairam, assumed charge as Director Tech.(P&P), CCL on 26.10.2022

# Shri P.V.K.R. Mallikarjuna Rao, Director (Pers.), CCL superannuated, on 31.07.2022.

## Shri Harsh Nath Mishra assumed charge as Director (Pers.), CCL on 24.08.2022

+ Shri Harbans Singh completed his tenure as Non-official Part-time Director on 09.07.2022

++ Smt. Jajula Gowri completed her tenure as Non-official Part-time Director on 09.07.2022

SCHEDULE FOR REMUNERATION OF CMD AND OTHER DIRECTORS FOR THE YEAR 2022-23

A. Functional Directors
Remuneration for the year 2022-23 (Rs.)
Relation
Business Salary &
with
Name relationship Allowance Leave CMPF Med. NPS
other PRP Perquisites HRA LTC(H) Gratuity Total
With incl. Arrear Encashment Cont. Expenses Contri-
Director
company bution

Shri
Nil CMD 4798962.00 2705467.06 778803.38 0.00 657051.00 456367.00 0.00 263937.00 0.00 0.00 9660587.44
P.M. Prasad

Shri
Director
Ram Baboo Nil 4708736.70 1706304.96 592022.58 0.00 0.00 447775.00 0.00 236219.00 0.00 0.00 7691058.24
(Tech./ O)
Prasad

Shri
Harsh Nath Nil Director (Pers.) 2806676.21 0.00 221304.62 0.00 0.00 267620.00 0.00 124579.00 0.00 0.00 3420179.83
Mishra
Shri
Pawan
Nil Director (Fin.) 2630400.00 0.00 158187.00 0.00 0.00 250464.00 0.00 129369.00 0.00 0.00 3168420.00
Kumar
Mishra
Shri Director
Nil 1448921.75 831712.80 0.00 227977.20 0.00 138408.00 0.00 59265.00 0.00 0.00 2706284.75
B.Sairam (Tech./P&P)

GRAND TOTAL 16393696.66 5243484.82 1750317.58 227977.20 657051.00 1560634.00 0.00 813369.00 0.00 0.00 26646530.26

Service Contract
All the Directors of the Company are appointed by the President of India. The terms & conditions of all the whole time
Functional Directors are decided by the President of India in terms of Articles of Association of the Company.

B. Part-time Directors
No remuneration is paid to the Part-time Directors by the Company.

80
C. Non-official Part Time Directors
Total
Sl. Particulars of Remuneration Amount (Rs.)
1. Independent Shri Harbans Singh Smt. Jajula Gowri Shri Ramesh Kumar Soni
Directors: (till 09.07.2022) (till 09.07.2022) (01.11.2021 till date)
Sitting Fees for
attending board/ 1,40,000 1,60,000 6,00,000 9,00,000
committee meetings
Total (1) 1,40,000 1,60,000 6,00,000 9,00,000

3. BOARD COMMITTEE Board of CCL w.e.f. 22.02.2023 vice Ms. Santosh Deputy
i. Audit Committee of Directors Director General, Ministry of Coal., the Audit Committee
of Directors was re-constituted in the 526th Board meeting
Consequent upon assumption of charge as Director
held on 24.03.2023 with the following Directors:
(Finance), CCL by Shri Pawan Kumar Mishra, on 10.06.2022
vice Shri K.R Vasudevan on 10.06.2022, the Audit Committee 1. Shri Ramesh Kumar Soni,
of Directors was re-constituted in the 516th Board meeting Non-Official Part-time Director — Chairman
held on 04.07.2022 with the following Directors: 2. Shri Vinay Ranjan,
1. Shri Ramesh Kumar Soni, Official Part-time Director — Member
Non-Official Part-time Director — Chairman
3. Shri Ajitesh Kumar,
2. Ms. Santosh, Official Part-time Director — Member
Official Part-time Director — Member
4. Shri Pawan Kumar Mishra,
3. Shri Harbans Singh,
Director (Fin), CCL — Permanent Invitee
Non-Official Part-time Director — Member
The quorum for the meeting of Audit Committee shall be
4. Shri Vinay Ranjan,
either two members or one third of the members of the
Director (P&IR), CIL — Member Audit Committee whichever is greater, but at least two
5. Smt. Jajula Gowri, Independent Directors must be present. The CCL Board at
Non-Official Part-time Director — Member its 411th meeting held on 04.11.2014, approved the Terms
of Reference of Audit Committee of CCL in terms of the
6. Shri Pawan Kumar Mishra, provisions of Section 177(4) of the Companies Act’ 2013.
Director (Fin), CCL  —Permanent Invitee
During the year ended 31st March, 2023, 08 (Eight) nos.
Further in view of tenure completion of Shri Harbans of meetings of Audit Committee of Directors were held
Singh and Smt Jajula Gowri on 09.07.2022, the CCL Board on 14.05.2022, 27.06.2022, 30.07.2022, 16.09.2022,
at its 517th meeting held on 31.07.2022, re-constituted the 28.10.2022, 21.12.2022, 25.01.2023 & 24.03.2023. The
Audit Committee of Directors with the following Directors Company Secretary is also the Secretary to the Audit
— Committee.
1. Shri Ramesh Kumar Soni, Scope of Audit Committee
Non-official Part-time Director — Chairman
The list of functions inter-alia includes the following:
2. Ms. Santosh,
1. To hold discussion with Auditors periodically about:
Official Part-time Director — Member
- Internal control systems compliance and
3. Shri Vinay Ranjan, adequacy thereof.
Director (P&IR), CIL — Member - Scope of audit including observations of the
4. Shri Pawan Kumar Mishra, auditors.
Director (Fin), CCL — Permanent Invitee - Review of the quarterly, half yearly and annual
Consequent upon assumption of Shri Ajitesh Kumar, financial statements before submission to the
Director, Ministry of Coal as Part-time Director, on the Board.

81
2. To perform the following functions: 6. Shri PVKR Mallikarjuna Rao,
- Overseeing the Company’s financial reporting Director (Pers.), CCL — Member
process and system for disclosure of its financial Further in view of tenure completion of Shri Harbans Singh
information to ensure that the financial and Smt Jajula Gowri on 09.07.2022, and superannuation
statements are correct, sufficient and credible. of Sri PVKR M Rao, D(P) CCL (additional charge) on 31st
- Reviewing with the management, the annual July’2022, the CCL Board at its 517th meeting held on
financial statements before submission to the 31.07.2022, re-constituted Sustainable Development &
Board for approval, with particular reference to Corporate Social Responsibility Committee with following
matters required to be included in the Directors Directors:
Responsibility Statement, change, if any in 1. Shri Ramesh Kumar Soni,
accounting policies, major accounting entries, Non-Official Part-time Director — Chairman
significant adjustment made, disclosure of
related party transactions and qualifications in 2. Shri Vinay Ranjan,
the draft audit report. Director(P&IR), CIL — Member
ii. Sustainable Development & Corporate Social 3. Shri Pawan Kumar Mishra,
Responsibility Committee Director (Fin), CCL — Member
The Department of Public Enterprises, Ministry of Heavy 4. Shri Ram Baboo Prasad,
Industries & Public Enterprises, Government of India vide Director (Tech/O), CCL — Member
its Office Memo no: DPE’s O.M. no. 3(9)/ 2010 – DPE(MOU) Subsequently upon charge assumption by Shri Harsh
dated 23rd September, 2011 has issued guidelines on Nath Mishra Soni as Director(P), CCL on 24.08.2022 the
Sustainable Development for Central Public Sector CCL Board at its 519th meeting held on 26.09.2022, re-
Enterprises (CPSEs). constituted Sustainable Development & Corporate Social
According to the Guideline, for effective implementation- Responsibility Committee with following Directors:
- Preparation of Sustainable Development (SD) Plan is 1. Shri Ramesh Kumar Soni,
needed. Non-Official Part-time Director — Chairman
- An Independent External Agency/Expert/ Consultant 2. Shri Vinay Ranjan,
for evaluation of SD Projects to be made.
Director(P&IR), CIL — Member
- A Board Level Designated Committee has to be
constituted to approve the SD Plan and oversee the 3. Shri Pawan Kumar Mishra,
SD performance. Director (Fin), CCL — Member
As per Section 135 of Companies Act 2013, CSR & 4. Shri Harsh Nath Mishra,
Sustainable Development Committee should have atleast Director (Pers.), CCL — Member
3 Directors –out of which at least One Director shall be an During the year ended 31st March, 2023, 7 (Seven)
independent Director. nos. of meeting of SD & CSR Committee were held
Consequent upon assumption of charge as Director on 28.04.2022, 27.06.2022, 08.08.2022, 31.08.2022,
(Finance), CCL by Shri Pawan Kumar Mishra, on 10.06.2022 21.12.2022, 17.01.2023 & 24.03.2023.
vice Shri K.R Vasudevan, the Sustainable Development iii. Risk Management Committee
& Corporate Social Responsibility Committee was re-
Consequent upon appointment of Shri Ram Baboo Prasad
constituted in the 516th Board meeting held on 04.07.2022
as Director (Technical), CCL on 14.05.2022, the CCL Board
with the following Directors-
at its 516th Meeting held on 04.07.2022, re-constituted
1. Shri Harbans Singh, the Risk Management Committee with the following
Non-Official Part-time Director — Chairman Directors -
2. Smt. Jajula Gowri, 1. Shri Ramesh Kumar Soni,
Non-Official Part-time Director — Member Non-Official Part-time Director — Chairman,
3. Shri Ramesh Kumar Soni,
2. Shri Ram Baboo Prasad,
Non-Official Part-time Director — Member
Director (Tech./Opn), CCL — Member
4. Shri Vinay Ranjan,
Director (P&IR), CIL — Member 3. Shri S.K. Gomasta,
5. Shri Pawan Kumar Mishra, Director (Tech/P&P), CCL — Member
Director (Fin), CCL — Member 4. Shri S.K. Pandey,GM(Oprn.) — Chief Risk Officer

82
Further to charge assumption by Shri B. Sairam as Director of Sri PVKR M Rao, D(P) CCL (additional charge) on 31st
(Technical), CCL on 26.10.2022 vice Shri S.k. Gomasta, July’2022, the CCL Board at its 517th meeting held on
Director(Technical), CMPDIL, the CCL Board at its 522nd 31.07.2022, re-constituted the HR Committee with the
Meeting held on 23.11.2022, re-constituted the Risk following Directors:
Management Committee with the following Directors- 1. Shri Ramesh Kumar Soni,\
1. Shri Ramesh Kumar Soni, Non-Official Part-time Director — Chairman,
Non-Official Part Time Director — Chairman 2. Shri Vinay Ranjan,
2. Shri Ram Baboo Prasad, Director (P&IR), CIL — Member
Director (Tech/Opn), CCL — Member 3. Shri S.K. Gomasta,
3. Shri B. Sairam, Director (Tech./P&P), CCL — Member
Director (Tech/P&P), CCL — Member 4. Shri Ram Baboo Prasad,
4. Shri S.K. Panday, GM(Oprn.) — Chief Risk Officer Director (Tech./Oprn), CCL — Member
Further CCL Board at its 526 Meeting held on 24.03.2023,
th
Subsequently upon superannuation of Shri PVKR
re-constituted the Risk Management Committee with the Mallikarjuna Rao Director(P) on 31.07.2022 and charge
following Directors- assumption by Shri Harsh Nath Mishra as Director(P), CCL
1. Shri Ramesh Kumar Soni, on 24.08.2022 and the CCL Board at its 519th Meeting held
Non-Official Part Time Director — Chairman on 26.09.2022, re-constituted the HR Committee with the
following Directors:
2. Shri Ram Baboo Prasad,
1. Shri Ramesh Kumar Soni,
Director (Tech/Opn), CCL — Member
Non-Official Part-time Director — Chairman,
3. Shri B. Sairam,
2. Shri Vinay Ranjan,
Director (Tech/P&P), CCL — Member
Director (P&IR), CIL — Member
4. Shri S.R. Talankar, GM(Oprn.) — Chief Risk Officer
3. Shri S.K. Gomasta,
During the year ended 31st March, 2023, 01 (One) nos. of
meetings of Risk Management Committee were held on Director (Tech./P&P), CCL — Member
25.03.2023. 4. Shri Harsh Nath Mishra,
iv. Human Resource Committee Director (Pers.), CCL — Member
The CCL Board at its 516th Meeting held on 04.07.2022, Subsequently upon appointment of Shri B. Sairam as
re-constituted the Human Resource Committee with the Director (Technical), CCL w.e.f. 26.10.2022 vice Shri S.K.
following Directors- Gomasta the CCL Board at its 522nd Meeting held on
1. Smt. Jajula Gowri, 23.11.2022, re-constituted the HR Committee with the
following Directors:
Non-Official Part-time Director — Chairman,
1. Shri Ramesh Kumar Soni,
2. Shri Ramesh Kumar Soni,
Non-Official Part-time Director — Chairman,
Non-Official Part Time Director — Member
2. Shri Vinay Ranjan,
3. Shri Vinay Ranjan,
Director (P&IR), CIL — Member
Director (Tech./P&IR), CIL — Member
3. Shri B. Sairam,
4. Shri S.K. Gomasta,
D(T/P&P), CCL — Member
Director (Tech./P&P), CCL — Member
4. Shri Harsh Nath Mishra,
5. Shri PVKR Mallikarjuna Rao,
Director (Pers.), CCL — Member
Director (Pers.), CCL — Member
During the year ended 31st March, 2023, 01 (One) meeting
Further in view of tenure completion of Shri Harbans Singh
of Human Resource Committee was held on 14.05.2022.
and Smt Jajula Gowri on 09.07.2022, and superannuation

83
4. ATTENDANCE ON BOARD LEVEL COMMITTEE MEETINGS 2022-23

Audit SD&CSR Risk Management

Sl. Name & Designation HR Committee
Committee Committee Committee
Functional Directors

1. Shri P. M. Prasad - - - -

2. Shri K.R. Vasudevan 1/1 1/1 - -

3. Shri Pawan Kumar Mishra - 6/6 - -

4. Shri Ram Baboo Prasad D(T/O) - 2/2 1/1 -

5. Shri B. Sairam - - 1/1 -

6. Shri S.K. Gomasta - - - -

7. Shri PVKR Mallikarjuna Rao - 2/2 - 1/1

8. Shri Harsh Nath Mishra - 4/4 - -

Official Part-time Directors

9. Ms. Santosh , 5/7 - - -

Dy. Director General, MoC

10. Shri Ajitesh Kumar, 1/1 - - -

Director, MoC, Govt. of India

11. Shri Vinay Ranjan 8/8 7/7 - 1/1

Non-Official Part-time Directors

12. Shri Harbans Singh 2/2 2/2 - -

13. Smt Jajula Gowri 2/2 2/2 - 1/1

14. Shri Ramesh Kumar Soni 8/8 7/7 1/1 1/1

*The table above shows the details of attendance for directors at meetings at the Board level committees held during
the FY 2022-23 Attendance is expressed as the number of meetings attended out of the number eligible to attend.
5. Auditors of the Company 2. M/s Lodha Patel Wadhwa & Co.
A. Statutory Auditors: 304, Shrilok Complex, 4 H.B. Road, 3rd Floor,
Under Section 139 of the Companies Act, 2013 the Ranchi-834001, Jharkhand
following Chartered Accountants Firms were appointed 3. M/s. Sushil Sharma & Co.
by the Comptroller and Auditor General of India for
Tirath Mansion, Room No. 222, Near Overbridge,
auditing the Financial Statements of your Company for
the year 2022-23: Main Road, Ranchi-834001, Jharkhand
M/s SPAN & Associates 4. M/s N K D & Co.
C/o. – Mr. Amit Kumar Chand, 140, Old AG Colony, 2nd Floor, Radha Gouri,
Kadru Ranchi – 834002, Jharkhand Goushala Chowk, North Market Road, Upper Bazar,
Branch Auditors: Ranchi-834001, Jharkhand
1. M/s V. Rohatgi & Co. B. Cost Auditors:
1st Floor, Sarjana Building, Main Road,Ranchi-834001, As per Companies Act, 2013 the following Cost Auditors
Jharkhand were appointed by the Board of Directors in its 519th

84
Board Meeting held on 26.09.2022 for conducting Cost 2. M/s S K Naredi & Co.
Audit as required under the Act for theyear 2022-23, 2023- C/o Biswajit Das, Rana Roy, Sarna Maidan, Nagartoli,
24 & 2024-25:
Behind Nucleus Mall, Ranchi-834001
M/s NIRAN & Co.,
3. M/s Jaiswal Brajesh & Co.
ESEN Den, 475, Aiginia,
CA Ruby Bansal, 400C, Icon Height Dhumsa Toli,
Asiana Plaza Entry, Khandagiri,
Ghasi Talab, Ranchi-834001
Bhubaneshwar - 751019. Odisha.
4. M/s Biswas Dasgupta Datta & Roy
Branch Cost Auditors:
Flat No-3, Nabakanti Apartment, 59-B,
1. M/s MANI & Co.
Circular Road, Behind Hotel Apsara, Ranchi-834001
Cost Accountants
“Ashoka” 111, Southern Avenue 5. M/s Gupta Sachdeva & Co.
Kolkata - 700029 205-B, Mahabir Tower, Main Road,
2. M/s DGM & Associates Ranchi-834001
64, B.B. Ganguly Street, 6. M/s Parik & Co.
(2nd Floor), Kolkata - 700012 Aashirbad Bhawan, Dindli Basti,
C. Secretarial Auditors: Near Sher-E-punjab Chowk,
Under Section 204 of the Companies Act, 2013 the Adityapur, Jamshedpur - 831013
following Company Secretary firm was appointed by the
7. M/s C K Prusty & Associates
Board of Directors in its 515th Board meeting vide item
No. 4(5) dated 14.05.2022 for conducting Secretarial Audit 15 AC Market, 1st Floor, GEL Church Complex,
as required under the Act for the year 2021-22, 2022-23 Main Road, Ranchi - 834001
and 2023-24.
8. M/s Habibullah & Co.
M/s. Satish Kumar & Associates H.No 2, Darjee Mohalla, HPO Doranda,
Office No. 603, Samridhi Square, 6th Floor, Kishore Ganj Ranchi - 834002
Chowk, Ranchi-834001 (Jharkhand).
9. M/s Abhijit Dutt & Associates
D. Internal Auditors:
8 By 2, Kirna Shankar Roy Road, 2nd Floor,
The following Internal Auditors were appointed by
Room No 2 And 3, Culcutta-700001
the CCL Board in its 488th Board Meeting held on
06.07.2020 for the year 2020-21 to 2022-23: 10. M/s R G S & Associates
M/s Jain Saraogi & Co. C/o Manish Singh, Sant Nagar, Near Jhiri Govt School,
508-8, Panchwati Plaza, Kutchery Road, New Shiv Mandir Jhiri, Kamre, Ranchi-835222
Ranchi-834001 11. M/s B Gupta & Co.
Area Internal Auditors: 602, Park Plaza, Tagore Hill Road,
1. M/s Nundi & Associates Morabadi, Ranchi - 834008
C/o Sri Phalguni Banerjee, D-1, Sudhalekha 12. M/s A K Kejariwal & Associates
Apartment, 2C, Sri Bimalanand Tower, Purulia Road,
J C Mullik Road, Hirapur, Dhanbad – 826001 Ranchi-834001

85
6. Annual General Meeting:
Particulars of the Annual General Meetings of the shareholders held during last 3 years:
Year Date & Time Location Attendance Special
Resolution, if any

2020-21 12th August’ Darbhanga House, 1. Shri PM Prasad,

2021 Ranchi. Member & Chairman.
At 10:00 AM 2. Shri Pramod Agarwal, Member NIL
3. Shri Binay Dayal, Member
4. Shri M. Vishwanathan, Rep of CIL

2021-22 12th August’ Darbhanga House, 1. Shri PM Prasad,

2021 Ranchi. Member & Chairman. NIL
At 10:00 AM 2. Shri Pramod Agarwal, Member
3. Shri Binay Dayal, Member
4. Shri M. Vishwanathan, Rep of CIL

2022-23 4th August’ 2022 Darbhanga House, 1. Shri PM Prasad,

At 12:00 Noon Ranchi. Member & Chairman. NIL
2. Shri Vinay Ranjan, Member
3. Shri M. Vishwanathan, Rep of CIL

N.B: No special resolution was passed through postal ballot at any of the General meetings of the Members held during the
above three years.

7. DISCLOSURES policy is being updated from time to timeby CIL as per the
Related Party Transactions SEBI notifications and being adopted by all its subsidiaries.
As per the disclosures given by the Directors of the As per the amended PTI regulations, the Digital database
Company, there was no material related party transactions of designated persons is being maintained by the software
that has potential conflicts with the interests of the implemented by CIL.
Company at large.
Delegation of Power:
Code of Conduct for Directors and Senior Executives
Delegation of power of CCL was revised with the approval
A Code of Conduct for Directors and Senior Executives of 34th ECFD meeting held on 15th November 2022.
was placed before the Board of Directors of CCL at Further the same was implemented in CCL with with
their 348th meeting held on 02.07.2008 and has been effect from 17.11.2022.
uploaded on the website of CCL www.centralcoalfields.in.
Accounting Treatment:
An acknowledgement of receipt of code of conduct and
Affirmation regarding compliance with the same for the The Financial Statements are prepared in accordance with
year ended March’2023 has been done. applicable Indian Accounting Standards (IND-AS) and
relevant presentational requirements of the Companies
Code of Conduct for Prevention of Insider Trading Act, 2013.
pursuant to Reg. 12(1) of the SEBI (Prohibition of
Insider Trading) Regulations 2015 Risk Management:
The Policy on Code of Internal Procedures and Conduct for As a part of strategic business policy, due importance
Prevention of Insider Trading, pursuant to Reg. 12(1) of the is given to the process of risk identification, assessment
SEBI (Prohibition of Insider Trading) Regulations 2015 and and mitigation control in different functional areas of the
as amended in 2018 & 2019, is approved by CIL Board in organization. Inherent risk due to external and internal
its 390th Board Meeting held on 13th August 2019. This factors is assessed and necessary mitigation control

86
measures are taken through policies and systems to are open for audit by C&AG and open for inspection by
manage the risk effectively. Vigilance/CBI etc.
Declaration by Independent Directors: Your Company has an independent Vigilance Deptt.,
headed by a Chief Vigilance Officer. The Vigilance Deptt.
During the year, all Independent Directors have met the
functioning under the overall guidance of the Central
requirements specified u/s 149(6) of Companies Act,
Vigilance Commission, mainly lays stress on preventive
2013 for holding the position of “Independent Director”
vigilance.
and necessary declaration forms from each Independent
Director u/s 149(7) was received. 13. INTEGRITY PACT:
8. MEANS OF COMMUNICATION: An MOU for implementation of Integrity Pact was signed
between your Company and Transparency International;
Operational & Financial Performance of the Company are
India on 11th August 2008 at New Delhi. The said MOU
published in Leading English Newspapers and alsoin local
was placed for information to the Board at its 350th
dailies. In addition to above, the financial results are also
meeting held on 23/08/2008.
displayed in the Company’s Website.
14. COMPLIANCE BY THE COMPANY:
9. AUDIT QUALIFICATIONS:
In compliance with the guidelines on Corporate
Management Reply to the Statutory Auditors’ observation
Governance, a quarterly and annually compliance report
on the Accounts of the Company and Secretarial auditors
is sent to MoC as well as to Deptt. of Public Enterprises,
report for the year ended 31st March, 2023 are furnished
Ministry of Heavy Industry & Public Enterprises, New Delhi.
as an Annexure to Directors’ Report. Comments of the
Comptroller and Auditor General of India Under Section 15. UN GLOBAL COMPACT:
143(6)(b) of the Companies Act, 2013 on the Financial
The Global Compact is a framework for businesses that
Statements of Central Coalfields Limited for the year
are committed to aligning their operation and strategies
ended 31st March, 2023 is also enclosed.
with ten universally accepted principles in the area of
10. TRAINING OF BOARD MEMBERS: human rights, labour, environment and anti-corruption.
As the world’s largest global corporate citizenship, the
The Functional Directors are the head of their respective
Global Compact is first and foremost concerned with
functional areas by virtue of their possessing the requisite
exhibiting and building the social legitimacy of business
expertise and experience and are aware of the business
and markets. Top companies of the world are members
model of the Company as well as the risk profile of the
of UNGlobal Compact. Based on Performance in
Company’s business. The Part-time Directors are fully
Community Development, CCL has been a member of UN
aware of the Company’s business model. The risk profile
GlobalCompact since 2009. Since then, the company has
of the Company’s business has been well defined by the
stepped up its concern for community, later through CSR
Board and the Board Members are appraised periodically
activities since 2014 with application of business excellence
on the same.
principles and making CSR a key business process. CCL has
11. MECHANISM FOR EVALUATION OF PART-TIME taken up strategic actions to advance broader societal
DIRECTORS: goals, such as the UN Sustainable Development Goals,
The performance of Part-time Directors representing the with an emphasis on collaborationandinnovation.
Ministry of Coal & Coal India Limited (Holding Company) is CCL implements CSR as per needof the community around
evaluated as per the rules of their respective departments. operational areas and other parts of Jharkhand, assigning
The Non-Official Part-time Directors are selected by due priority to the SDGs of immediate requirement of the
Government of India for appointment as Board Members citizens. Company has worked mainly in the field of health&
through Ministry of Coal and Department of Public nutrition, sanitation, drinking water, education, sports,
Enterprises. Generally, the appointment is made for skilling of youths for employment/ self-employment,
tenure of three years. animal welfare etc. Company follows a hybrid approach,
12. WHISTLE BLOWER POLICY: wherein part of CSR implementation is done by self, and
through not-for profit reputed implementing agencies.
The Coal India Whistle Blower Policy ‘2019’ as approved by
CIL Board in its 390th Board Meeting held on 13thAugust In the field of Health & Nutrition, CCL has entered
2019, is applicable to all its subsidiaries. into MoU with Akshay Patra Foundation and District
Administration Ramgarh for setting up 50000 meals per
In addition, being a PSU, the records of the Company day capacity Centralized Kitchen for supply of Mid Day

87
Meals to 538 government schools of Ramgarh district. has developed deep borings, solar powered deep boring,
CCL has registered as Nikshay Mitra for adoption of 1400 hand pumps, wells, installation of RO water plants &
TB patients of Latehar and Chatra Districts for 6 months water purifiers, provision of water through pipelines etc.
and providing nutrition baskets under PM TB Mukt Bharat To promote green energy Company has installed solar
Abhiyan with online tracking of implementation. 4 nos powered deep bore wells with water storage tanks in
type B and 2 nos Type C ambulances were provided to remote villages for availability of safe drinking water.
Chatra District Administration for rapid response to
patients and accident victims. CCL is providing healthcare In the field of animal welfare, CCL has adopted animals (a
to villagers of command areas through Jan Arogya Kendra pair of lions and tigers) for their upkeep, food, medical/
located in its Central Hospital at Ranchi, CSR Dispensaries vet care at Bhagwan Birsa Zoological park, Ranchi. For
in Company Hospitals at Operational Areas. CCL has treatment of injured/sick animals (strays & livestock), CCL
also provided medical equipments for Govt. hospitals, is starting a 24x7 animal ambulance cum emergency
e-scooters for ANMs, developed model labour rooms and response vehicle with inbuilt OT facility.
upgraded Anganwadis to Model Anganwadis under CSR. With a focus on prioritizing skill development of local
Under education, CCL has entered into a MoU with Dept. youth/women, HMV driving training was provided to
of Education, Govt. of Jharkhand for setting up 5000 140 PAPs with issuance of driving license after successful
seated State library in Ranchi University equipped with training completion. Tailoring training was provided to
reading halls, E-Resource & Journal section, Conference SC/ST/OBC women along with market linkage. In villages
Room, Digital Library section, Cubicles for group study, around Ramgarh Coalfields, SHGs of artisans was formed
Meeting Rooms, Meditation Centre, Cafeteria etc for and training was provided in Dokra art, Sujni art, Bamboo
students as well as common people. Students (boys and craft &Jute craft along with assistance for market linkage
girls) belonging to deprived sections from command Area through e-marketing platform/individuals/shops. Training
are selected on merit/entrance test and provided free in motorcycle maintenance and repair technology was
Higher secondary education in reputed School and free imparted to 25 youths of Tana Bhagat community linking
residential classroom coaching by IITian Executives of CCL them with job in workshops/opening own repair shop.
to prepare for JEE Mains/Advanced /other Engineering Solarisation of sewing clusters through setting up Solar
Entrance Examinations under CCL ke Lal/Laadli scheme. Panel, Battery and wiring etc for powering the sewing
To facilitate continuation of education of children who machines and fan, light of the home based workshop was
have lost their parents or the primary earning members done for 50 sewing entrepreneurs through TERI. CCL has
of the family due to COVID-19, CCL has started a COVID also been undertaking various skill development trainings
Crisis Scholarship. Apart from this, CCL has undertaken in the trade of food processing, mobile repairing, tailoring,
development of 4 mini science labs and 94 smart classes computer etc. in its command areas to provide livelihood
in Govt. schools, infrastructural support in schools, opportunities to the local villagers especially youths.
provision of educational kits/stationeries, hiring of school Under sanitation, community toilets have been
buses for commutation of rural children, development constructed in schools/ villages situated in its command
of classrooms and community libraries, etc to promote areas to reduce open defecation, thus creating a healthy
education in its command areas. and clean environment.13 Bottle crushing machines have
CCL has notable contribution in sports promotion been installed at major railway stations Ranchi and Hatia.
through operation and maintenance of Sports Academy Under technology incubation, technical and financial
at Kehlgaon, Jharkhand. The project has bagged for CCL 2 support to new entrepreneurs/MSME Start-upsis being
consecutive National CSR Awards in promotion of Sports given at Jharkhand University of Technology, Ranchi with
category. (2019 and 2020 declared in 2022). Besides the CSR support of CCL.
major project of sports academy, CCL provides football,
cricket kits, volleyball, nets etc.to the local youths and Employee engagement by direct involvement in activities,
childrenfor promotion of sports, gainful utilization of time events, conferences, interaction with communities and
& positive orientation and motivation of local youth also management helping need based planning is key feature
developing a harmonious environment with society. of CSR implementation in CCL. Employees regularly
engage in sharing of news/information/achievements of
To cater the drinking water needs of the community, CCL CSR efforts on social media.

88
 Annexure – IA

PROFILE OF DIRECTORS
Board of Directors of CCL as on 31.03.2023 consists of CMD, D(F), D(T/P&P), D(P), D(T/O), two Govt./CIL Nominee Directors,
One Non-official Part Time Director.

Brief about all Directors, their qualification, domain, experience & expertise, their membership in professional bodies,
Chairman/Directorship in other companies etc are given below:

FUNCTIONAL DIRECTORS:
SHRI P.M. PRASAD
CHAIRMAN CUM MANAGING DIRECTOR
Shri PM Prasad, took charge as Chairman-cum-Managing Director (CMD)
of Central Coalfields Limited (CCL) on 01/09/2020. Shri Prasad has 39 years
of experience in varied facets of operations and management. A mining
engineer from Osmania University, he has earned an M.Tech in ‘Open-Cast
Mining’ from the Indian School of Mines (IIT- ISM), Dhanbad. He acquired
a first-class mines manager certificate from DGMS in 1988 and obtained a
degree in law from Nagpur University in 1997.

Shri Prasad began his career in 1984, as an executive trainee with Western
Coalfields Limited (WCL), a subsidiary of Coal India Limited (CIL). He
exhibited dedication, hard work, sincerity and dynamic leadership as he
progressed through different roles in the company and became the General
Manager of Lingaraj area in Mahanadi Coalfields Limited (MCL).

In 1994-95, he was instrumental in the reopening of DRC mines which

DIN : 08073913 was affected by the underground fire during his posting in WCL. For this
remarkable job, he was awarded as ‘Best Mines Manager’ from Secretary-
Coal, Ministry of Coal (MoC) and Chairman, Coal India Limited in 1995.
During his successful stint as General Manager at MCL, he was responsible for successful opening and operations of
‘Kaniha Opencast Project’ from March, 2010. He is also credited for the diversion of nallah at Hingula Opencast Area
to unlock coal reserve of 26.00 MT in the year 2014-15 and commencement of New Railway Siding No. 9 at Talcher
Coalfields. He has a special penchant for safety and the projects with which he was associated have won various prizes
at different competitions including hat-trick for two projects i.e. Padmapur Opencast, WCL between 1996 and 1998 and
Nandira UG Mine, MCL between 2004 and 2006.
In May, 2015 he joined NTPC as the Executive Director (Coal mining) where he was acknowledged for expediting the
award process of MDO projects and awarded Pakribarwadih coal block (NTPC’s 1st project) and floated NITs for remaining
coal blocks. In March 2016, he took charge as Executive Director cum Project Head, Hazaribagh, Jharkhand. He led the
commencement of coal mining operations at Pakribarwadih mines, Hazaribagh. During his term in 2016, Pakribarwadih
was bestowed with the 1st prize in ‘Swarn Shakti Awards’.

In February, 2018 he joined Northern Coalfields Limited (NCL) as Director Tech. (P&P) where he was responsible for
operations of five areas of the company along with key departments like Corporate Planning, Civil Engineering, Railway

89
Siding, Environment & Forest, etc. Under his leadership, NCL was awarded for outstanding work in environment
conservation at the World Environmental Conference in June 2018.

In August 2019, he took over the charge of CMD, Bharat Coking Coal Limited (BCCL). Amidst challenging conditions,
he led from the front with commitment, vigor, and dedication. He spearheaded the company’s fight against COVID-19
pandemic and was instrumental in various initiatives to transform the overall performance of the company.

Shri Prasad is renowned for his interpersonal skills and is a firm believer in teamwork and possesses excellent technical
expertise. Under his guidance the company is poised to attain new milestones and scale further heights of success.

SHRI RAM BABOO PRASAD

DIRECTOR (TECHNICAL/OPERATION)

Shri Ram Baboo Prasad is workings as Director Technical, (Operations),

Central Coalfields Ltd. (CCL) from 14.05.2022.

Sri Prasad has completed Bachelor of Technology (Mining Engineering)

from Indian Institute of Technology (Indian School of Mines) (IIT-ISM),
Dhanbad, Jharkhand in 1987. He joined as Management Trainee (Mining)
in Coal India Limited (CIL) in the year 1987. He acquired Manager’s First-
Class Certificate of Competency to Manage a Coalmine under CMR from
Directorate General of Mines safety (DGMS), Dhanbad. He did four different
courses from IGNOU, New Delhi from period 1996 to 1999 and obtained
degree of Master of Business Administration (Financial Management),
Diploma in Management, Post Graduate Diploma in Financial Management
and Post Graduate Diploma in Management. DIN: 09644944
Prior to assuming the top technical post at CCL, Jharkhand-based subsidiary
of Coal India Ltd, Shri Ram Baboo Prasad has vast working experience as
General Manager (Mining) from July 2010 to May 2022 in CCL as well as NCL, In NCL he was GM (Mining) of Jayant Area,
NCL. NCL is a subsidiary of Coal India Limited which has the pride of being the third largest coal producing subsidiary
of CIL. He was also very instrumental in working as Project Officer of different project in CCL from March 2004 to July
2010. Sri Prasad has 35 years of vast diversified experience of working in highly mechanized opencast mines as well as
underground mines in NCL, CCL and SECL.

Award and Accolades

• Awarded as Utkristh Khanik ¼mRd`"B [kfud½ ) for achieving highest SDL productivity in CIL in the year 1998 while
he was working as mine manager at Somna UG Mine of SECL.
• He was recognized as “BEST AREA GENERAL MANAGER” of NCL in 2016.
• He was also awarded as the “BEST LINE MANAGER WITH PEOPLE ORIENTATION” in 2021.

Shri Prasad has international exposure too. In 2018, he participated in International Mining & Resource Conference at
Melbourne, Australia. He has feather in his cap to participate in Advanced Management Program at Brisbane, Australia in

90
2019. He has also actively participated in training programs organized by Indian Institute of Management (IIM) Kolkata,
Indian Institute of Technology (IIT) Kharagpur and Harvard University.
Sri Prasad was part of World Bank and GIZ sponsored study tour of mine sites in Poland, Germany and Belgium to study the
best practices adopted in above countries for closure of coal mines and Just Transition. The objective of the study tour was
to develop a comprehensive mine closure framework on principles of Just Transition. The subject Study Tour provided an
exemplary opportunity to the Indian team to see excellent works carried out by Germany in closing its mine sites with social
centric approach ensuring Just Transition for all and learn the best practices that may be replicated in India. The visit has
immensely helped India in capacity building for seamless transition to low carbon economy in the long term and fight the
causes of climate change in effective manner.

Sri Ram Baboo Prasad is not only a mining engineer but his activities are inclined towards philanthropy and are eager
to extend a helping hand to villagers staying in rural areas. When he was GM, CSR of CCL, Shri Prasad started program
of “CCL Ke Lal” and “Barefoot Manger” with Indian Institute of Management (IIM) Ranchi to empower poor families. He
was also instrumental in construction of more than 7000 toilets under Swachh Bharat Mission in 2014-15 in different
states includingJharkhand.

Shri Prasad is renowned for his interpersonal skills and is a firm believer in teamwork and possesses excellent technical
expertise. Under his able leadership and guidance, CCL is poised to attain new milestones and scale further heights of
success.

SHRI PAWAN KUMAR MISHRA

DIRECTOR (FINANCE)
Shri Pawan Kumar Mishra is presently working as Director (Finance),
Central Coalfields Limited (CCL), a coal mining company since June-2022.
He is Graduate in Commerce and also member of Institute of Chartered
Accountant. He is also director of Jharkhand Central Railway Limited (JCRL).

Prior to his joining in CCL, he had worked as CFO (Chief Financial Officer)
with DNH Power Distribution Corporation Limited (DNHPDCL), a power
distribution utility and also Nuclear Power Corporation Limited (NPCIL),
a power generation company. He has more than 20 years of experience
in the fields of accounting, finance and taxation. He has very rich and
vast experience in corporate accounting & taxation, corporate financing
including restructuring, commercial / project evaluation including
negotiation and its documentation, budget & budgetary control, dealing
with auditors, commercial compliances including tariff determination &
DIN: 09665365
finalization, Power Purchase Agreement finalization and other regulatory
compliances in power sector.

In his previous professional working association, he has played key roles in privatisation of electricity distribution
company through competitive bidding first of its kind including documentation. He was also instrumental in transfer
and hand holding process of the said privatisation, turning out of financial performance of distribution utility company
through regulatory improvements, implementation of integrated business solution & automated business processes,
preparation of finance manual & internal audit manual, implementation of new accounting standards (Ind AS) including
finalization of new accounting policies and reporting structure.

91
 SHRI HARSH NATH MISHRA
DIRECTOR (PERSONNEL)

Shri H. N. Mishra is Director (Personnel) at Central Coalfields Limited (CCL) –

a subsidiary of Coal India Limited (CIL). Shri Mishra started his professional
journey in 1991 and prior to joining CIL he worked in various capacities at
Steel Authority of India Limited (SAIL).

Shri Mishra holds a Master’s degree in Economics from Patna University and
a Diploma in Social Work and Labour Welfare from Indian Institute of Social
Welfare and Business Management (IISWBM), University of Culcutta. In
addition to these commendations, he also earned LLB degree from Vinoba
Bhave University. Mr. Mishra is a Life member of the National Institute of
Personnel Management (NIPM) and presently he is the chairman of its
Ranchi Chapter.

He has over three decades of experience in varied facets of Human Resource

DIN: 09732955 management. Shri Mishra is renowned for his visionary approach and
dynamic decision making. He believes in implementing transformational
and innovative practices for process simplification. In a very short span of
time he has steered improvement in various processes and practices for enhancement of stakeholder’s experiences
in CCL & BCCL. A soft-spoken person, patient listener and an employee friendly officer, he is regarded as an expert in
Industrial relations.

He is an avid reader and has participated in various conferences and seminars at different levels.

SHRI B. SAIRAM
DIRECTOR (TECHNICAL/ PROJECT & PLANNING)

Shri B.Sairam is a graduate mining engineer from NIT Raipur. He has 32 years
of experience in coal sector having worked in different capacities in mine
operations, planning, logistics and regulatory aspects. He joined Coal India
Limited in the year 1991 and worked in South Eastern Coalfields Limited,
Mahanadi Coalfields Limited and CIL Corporate HQ. He did a 15-month full
time residential PGDM on Management at NTPC School of Business Delhi.

As part of the course, he underwent 15-days' immersion program at

Nanyang Business School Singapore. He was part of the team that travelled
to Germany and Poland for studying the Just Energy Transition efforts of
those countries. Apart from the core field of coal mining at operations and
planning fronts, he has the experience of heading the divisions ofEmployee
Welfare, Public Relations, CSR and Legal as well. His recent assignment DIN: 09784229
included establishing sustainable socio-economic and environmental
practices in coal region. Before joining as Director (Technical) CCL, he was
serving as Executive Director at CIL.

92
PART-TIME / NOMINEE DIRECTORS

SHRI VINAY RANJAN

DIRECTOR (P&IR), CIL NOMINEE DIRECTOR
Shri Vinay Ranjan, Director (P&IR), Coal India Limited has undertaken the
charge of CIL Nominee Director on CCL Board on 05.08.2021. Shri Ranjan
is a performance-focused people-oriented professional with extensive
years of experience in entire gamut of HR, which includes large scale
Lateral/campus hiring, Talent Management, Performance Management,
Employer Branding, Compensation Management and Bench-marking,
Change Management,Cultural Building, Employee Engagement, Employee
Relations, HRIS, Employee Productivity and Learning & Development.
He has also successfully extended HR support to overseas business entities. He
was also part of two full life cycle SAP HR implementation. He led theteam
for full life cycle SAP HR implementation at TATA Communication (Erstwhile
VSNL), where he led the 8-member team consisting from VSNLHR and TCS for
the implementation of entire SAP HCM module. He wasalso part of the Tata
Teleservices (TTSL) SAP HR implementation team on deputation from VSNL.
DIN: 03636743 He is an impactful leader with the ability to develop & lead an efficient and
highly productive workforce. He has excellent stakeholder's management
skills and has been working directly with promoters for last 5 years. He isrecognized for integrity and commitment with
high level of service delivery& execution and possesses strong interpersonal, communication and negotiation skills.
He became INSEAD alumni pursuant to successful completion of course at a glittering graduation ceremony held at
Fontainebleau campus, Franceon 29th July 2016.
Shri Vinay Ranjan was the corporate Head-HR for DB Power Ltd (A DainikBhaskar Group Company) when Dainik Bhaskar
Group diversified and decided to build two large Thermal power plants with an investment of US2 Billion.

SHRI AJITESH KUMAR

DIRECTOR, MoC, Govt. of India

Shri Ajitesh Kumar, MoC, GoI undertook charge as the Official Part-time
Director, Central Coalfields Limited on 22.02.2023.
Shri Ajitesh Kumar, belongs to 2006 Batch of Central Power Engineering
(Group-A) Service selected through Engineering Service Examination,
2005 conducted by Union Public Service Commission. He passed B. Tech in
Electrical Engineering from College of Technology under Govind Bhallabh
Pant University of Agriculture & Technology, Pantnagar (Uttrakhand) in 2004.
During his tenure in Central Electricity Authority, Ministry of Power (Govt. of
India), New Delhi from 2008 to 2019, he dealt in appraisal of Detailed Project
Reports of Hydro Power projects and fixation of installed capacities of hydro
power projects. He was also involved in monitoring of HV power projects
including sub-stations and transmission lines. At present, he is working as
Director in Ministry of Coal (Govt. of India) under Central Staffing Scheme
from September, 2019. In his current assignment, he is dealing with coal
block allocations & auctions, monitoring & development of coal blocks,
policy matters related to allocations of coal blocks, etc. He has also served as
DIN: 08765626
Govt. Nominee Director on board of Singareni Collieries Company Limited.

93
NON-OFFICIAL PART-TIME DIRECTORS
SHRI RAMESH KUMAR SONI
Ramesh Kumar Soni is a fellow member of the Institute of Chartered
Accountants of India.
Born in 1962, he did his graduation from Ravishankar University, Raipur
(Chhattisgarh).
He is a practicing Chartered Accountant in Jagdalpur District-Bastar
(Chhattisgarh).
He has been consultant and Statutory Auditor for various Private Limited
Companies, Bank Branches, Industrial Units, Health Sector Units and Non-
profit making organizations ever since the beginning of his professional
career. He has been associated with various MSME Business Units and has
helped them in establishing & improving their business.
He possesses professional expertise in wide areas such as Statutory Audits,
Concurrent Audits, Stock Audits, Financial Management, Direct Taxes,
Investment Consultancy.
He has given lectures in District Industrial Centre, Chamber of Commerce,
DIN: 09399355 Schools, and various non-profit making organizations in the field of his
professional expertise.
He has also given lectures on Career Guidance, Education and Professional Opportunities in the field of Commerce at
various Seminars organized by Schools and Non-profit making organizations.

94
 ANNEXURE-II
CERTIFICATE ON CORPORATE GOVERNACE BY SECRETARIAL AUDITOR

Satish Kumar & Associates

Company Secretaries

To
The Members,
M/s. Central Coalfields Limited.
Ranchi

1. We have examined the compliance of conditions of Corporate Governance by the Company for the year ended
31st March, 2023, although Clause 49 of the Listing Agreement is not applicable to the Company. The Company is
a subsidiary of Coal India Limited which is listed.
2. The compliance of conditions of Corporate Governance is the responsibility of the management. Our examination
was limited to procedures and implementation thereof, adopted by the Company for ensuring the compliance of
conditions of Corporate Governance. It is neither an audit, nor an expression of opinion on the financial statements
of the Company.
3. In our opinion and to the best of our information and according to the explanations given to us and representations
made by the management, we certify that the Company has complied with the conditionsof Corporate Governance,
except the appointment of required number of Non- Official Part-time Directors, as per the Department of Public
Enterprises Guidelines on Corporate Governance for Central Public SectorEnterprises.
4. We further state that such compliance is neither an assurance as to future viability of the Company nor theefficiency
or effectiveness with which the Management has conducted the affairs of the Company.

For Satish Kumar &

Associates

Sd/-
(Satish Kumar)
Company Secretary
FCS No.: 8423
CP. No.: 9788
Place: Ranchi
Date: 11th July, 2023
UDIN: F008423E000589190

95
 Annexure – III
FORM NO. MR – 3
SECRETARIAL AUDIT REPORT
(FOR THE FINANCIAL YEAR ENDED 31ST MARCH, 2023)
[Pursuant to section 204(1) of the Companies Act, 2013 and rule No.9 of the Companies
(Appointment and Remuneration Personnel) Rules, 2014]

To,
The Members,
Central Coalfields Limited Ranchi
We have conducted the Secretarial Audit of the compliance of applicable statutory provisions and the adherence to
good corporate practices of M/s Central Coalfields Limited (hereinafter called the “Company”). Secretarial Audit was
conducted in a manner that provided us a reasonable basis for evaluating the corporate conducts/statutory compliances
and expressing our opinion thereon.
Based on our verification of the Company’s books, papers minute books, forms and return filed and other records
maintained by the Company and also the information provided by the Company, its officers, agents and authorized
representatives during the audit period from April 2022 to March 2023, along with other documents/ filings as may be
relevant, which has been relied upon for the financial year ended on 31st March, 2023 in respect of the compliances of
the provisions of: -
1. The Companies Act, 2013 and the Rules made there under.
2. Secretarial Standards issued by the Institute of Company Secretaries of India.
3. The Depositories Act, 1996 and the Regulations and Bye-laws framed there under.
4. The SEBI (Listing Obligations & Disclosure Requirements) Regulations. 2015.
5. Guidelines on Corporate Governance for Central Public Sector Enterprises, issued by Department of Public
Enterprises vide their OM No. 18(8)/2005-GM dated 14th May, 2010.
6. Contract Labour (Regulation and Abolition) Act, 1970.
7. The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.
8. The Environment (Protection) Act, 1986 and other environmental laws and rules framed there under.
9. Guidelines on Corporate Governance for Central Public Sector Enterprises, issued by Department of Public
Enterprises.
10. Constitution of Board of Directors of Company specified in Ministry of Coal Letter No. 21/35/2005-ASO (iv) dated
6th June, 2008.
11. The Compliances of Specific laws as applicable on Central Coalfields Limited (the Company) are the responsibility
of the management of the Company. Our Report is limited to the extent of the Compliance Certificates provided
by the management and its officials. However, assurance/reliability of Compliances of Statutory Returns to be filed
under other laws specifically applicable on the production unit/ area has been relied upon the Certificates received
from the concerned HOD’s or Officials of the Company (refer “ANNEXURE-B1”).
I. In our opinion, based on the examination carried out by us, verification of records produced to us and according
to the information furnished to us by the Company and Officers, the Company has complied with the provisions of
the Companies Act, 2013 (“the Act”) and Rules made under the Act, the Memorandum and Articles of association
of the Company, subject to the provisions as stated specifically herein; and also that the Company has proper
board-processes and compliance-mechanism in place to the extent, in the manner and subject to the reporting
and observations (refer in Annexure-B):
1. Form of Balance Sheet as prescribed under Part I, form of Statement of Profit and Loss as prescribed under Part
II and general instructions for preparation of the same as prescribed in Schedule III to the Act.
2. The Board of Directors of the company is not having an adequate balance of Executive, Non-Executive&
Independent Director pursuant to the Guidelines on Corporate Governance for Central Public Sector
Enterprises, issued by Department of Public Enterprises vide their OM No. 18(8)/2005-GM dated 14th May,

96
 2010, provision of section 149 (1) of Companies Act, 2013 read with Rule 3 of (Companies Appointment of
Directors) Rules, 2014 and directives issued by the Ministry of Coal specifically with regard to Women director
and Independent Director.
3. Registered Office and publication of the name of the Company.
4. Filing of requisite forms and returns with the Registrar of Companies, Jharkhand within the time prescribed
under the Act and the rules framed there under.
5. Convening and holding of the Meetings of Board of Directors and Committees thereof.
6. Convening and holding of 66thAnnual General Meeting of the Members on Thursday, 04th August, 2022.
7. Maintenance of Minutes of the proceedings of the Annual General Meeting, Extra-Ordinary General Meeting,
Board Meetings and Meetings of Committees of the Board, properly recorded in loose leaf form, which are
being bound in a book form at regular intervals.
8. Payment of Remuneration to Directors.
9. Appointment and Remuneration of Statutory Auditors, Internal Auditors and Cost Auditors.
10. Composition and terms of reference of the Audit Committee and Nomination & Remuneration Committee.
11. Service of Documents by the Company on its Members and Auditors.
II. We further report that
1. The Directors have disclosed their Shareholdings and Directorships in other companies and interests in other
entities as and when required and their interests have been noted and recorded by the Board.
2. The Directors have complied with the disclosure requirements in respect of their eligibility of appointments,
their being independent and compliance with the Code of Conduct of Directors and Senior Management
Personnel.
3. There was no prosecution initiated and no fines or penalties were imposed on the Company, its Directors and
Officers, during the period under review.
4. No compliances of any nature are pending with the company based on the compliance mechanism established
by the company and on the basis of the Compliance Certificate(s) & other certificate issued by the Company
Secretary, Compliance Officer of the Company and other Departmental Heads of the Company.
5. We further report that during the Audit, the Company has not incurred any specific event/ action that can
have a major bearing on the Company's affairs in pursuance of the above referred laws, rules, regulations,
guidelines, standards, etc.
For Satish Kumar &
Associates

Sd/-
(Satish Kumar)
Company Secretary
FCS No.: 8423
CP. No.: 9788
Place: Ranchi
Date: 11th July, 2023
UDIN: F008423E000589124

Note: - This report is to be read with our letter of event date which is annexed as “Annexure-A”, “Annexure-B” and
Annexure-B1” forms an integral part of this report.

97
 ANNEXURE – A

To,
CENTRAL COALFIELDS LIMITED
Ranchi

Our report of event date is to be read along with this letter.

MANAGEMENT’S RESPONSIBILITY

1. Maintenance of Secretarial Records is the responsibility of the management of the Company. Our responsibility is
to express an opinion on these secretarial records based on our Audit.
2. We have followed the audit practices and the processes as were appropriate to obtain reasonable assurance about
the correctness of the contents of the secretarial records. The verification was done on test basis to ensure that
correct facts are reflected in secretarial records. We believe that the processes and practices followed by us provide
a reasonable basis to form our opinion.
3. The compliance of the provisions of Corporate Governance and other applicable laws, rules, regulations, standards
is the responsibility of management. Our examination was limited to the verification of procedure on test basis.
4. The Secretarial Audit report is neither an assurance as to the future viability of the Company nor of the efficacy or
effectiveness with which the management has conducted the affairs of the Company.
5. We have not verified the correctness and appropriateness of financial records and books of account, GST and TDS
Returns etc of the Company.
6. The Company has complied with the provisions, regulations, circulars except in respect of the matters specified in
“ANNEXURE-B”.

For Satish Kumar &

Associates

Sd/-
(Satish Kumar)
Company Secretary
FCS No.: 8423
CP. No.: 9788

Place: Ranchi
Date: 11th July, 2023
UDIN: F008423E000589124

98
 ANNEXURE – B

MANAGEMENT REPLY TO SECRETARIAL AUDITOR’S OBSERVATION

As per section 204 of the Companies Act’ 2013, Satish Kumar & Associates has been appointed to conduct Secretarial
Audit of M/s. Central Coalfields Ltd. Ranchi. The management’s reply in respect of the observation of Secretarial Audit
Report for financial year ended 31st March 2023 as submitted by Satish Kumar & Associates is as under:

SN. Observation Management Reply

1 The Company was not in compliance of the provision The Company is a Government Company under
of section 149(1) of Companies Act, 2013 read with the administrative control of the Ministry of Coal,
Rule 3 of (Companies Appointment of Directors) Rules, Government of India and a wholly owned subsidiary
2014 specifically with regard to the appointment of of Coal India Limited. The appointment of Directors
Women Director on the board. is done by Ministry of Coal, Government of India in
which the company has no role.

However, the representation has made to

administration Ministry for filling up of vacancies of
Women Director on Board of Directors of the company.

2 The Board of Directors of the Company is not duly The Company is a Government Company under
constituted with proper balance of Executive Directors, the administrative control of the Ministry of Coal,
Non-Executive Directors and Independent Directors Government of India and a wholly owned subsidiary
in accordance with the Guidelines on Corporate of Coal India Limited. The appointment of Directors
Governance for Central Public Sector Enterprises, is done by Ministry of Coal, Government of India in
issued by Department of Public Enterprises vide their which the company has no role.
OM No. 18(8)2005-GM dated 14th May, 2010 as the
However, the representation has made to
Board has only one Independent Director against the
administration Ministry for filling up of vacancies of
total requirement of five Independent Directors as per
Non-official Part-time (Independent) Directors on
the guidelines referred hereinabove.
Board of Directors of the company.

99
 ANNEXURE -B1
Compliances with respect to the Specific Laws as applicable on the Company referred below are completely based on
the Compliance Certificates received from the management of the Company and its Officials (forms an integral part
of this report)

1. The Coal Mines Act, 1952;

2. Indian Explosive Act, 1884;
3. Colliery Control Order, 2000 and Colliery Control Rules, 2004;
4. Coal Mines Regulations, 2017;
5. The Payment of Wages (Mines) Rules, 1956;
6. Coal Mines Pension Scheme, 1998;
7. Coal Mines Conservation & Development Act, 1974;
8. The Mines Vocational Training Rules, 1966;
9. The Mines Crèches Rules, 1961;
10. The Mines Rescue Rules, 1985;
11. The Coal Mines Pithead Bath Rules, 1946;
12. Maternity Benefit (Mines and Circus) Rules, 1963;
13. The Explosive Rules, 2008;
14. Mines Consession Rules, 1960;
15. Coal Mines Provident (Miscellaneous Provisions) Act, 1948;
16. Mines and Minerals (Development and Regulation) Act, 1957;
17. Payment of Undisbursed Wages (Mines) Rules, 1989;
18. The Indian Electricity Act 2003 and the Indian Electricity Rules, 1956;
19. The Environment (Protection)Act, 1986 and Environment Protection Rules, 1986;
20. The Hazardous Wastes and other wastes (Management Handling and Trans- Boundary Movement) Rules,
2016;
21. The Water (Prevention and Control of Pollution) Act, 1974; and Rules made there under
22. The Air (Prevention and Control of Pollution) Act, 1981;
23. Public Liability Insurance Act, 1991 and Rules made there under.

100
 ANNEXURE-IV
COMMENTS OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA UNDER SECTION 143 (6) (b) OF
THE COMPANIES ACT, 2013 ON THE FINANCIAL STATEMENTS OF CENTRAL COALFIELDS LIMITED
FOR THE YEAR ENDED 31ST MARCH 2023
The preparation of financial statements of Central Ministry of Finance, Government of India, vide Notification
Coalfields Limited for the year ended 31 March 2023 No.5/2017-Central Tax (Rate) dated 28 June 2017, notified
in accordance with the financial reporting framework the description of goods, in respect of which no refund
prescribed under the Companies Act. 2013 (Act) is the of unutilized input tax credit shall be allowed, where the
responsibility of the management of the company. The credit has accumulated on account of rate of tax on inputs
statutory auditors appointed by the Comptroller and being higher than the rate of tax on the output supplies of
Auditor General of India under section 139 (5) of the Act such goods. ‘Coal’ was not figuring in the above list.
is responsible for expressing opinion on the financial
statements under section 143 of the Act based on Unutilized input tax credit can be allowed as refund in
independent audit in accordance with the standards on accordance with the provisions of section 54(3) of the CGST
auditing prescribed under section 143 (10) of the Act. This Act 2017 where credit has accumulated on account of rate
is stated to have been done by them vide their Revised of tax on inputs being higher than the rate of taxes on
Audit Report dated 13th June 2023 which supersedes their output supplies except where goods or services has been
earlier Audit Report dated 27th April 2023. notified by the Government on the recommendations of
the Council. Further, for utilization of the Input Tax Credit,
I, on behalf of the Comptroller and Auditor General of no timeline is prescribed.
India have conducted a supplementary audit of the
financial statements of Central Coalfields Limited for the Ministry of Finance, Government of India, vide Notification
year ended 31 March 2023 under section 143(6)(a) of No.09/2017-Central Tax (Rate) dated 13 July 2022 made
the Act. This supplementary audit has been carried out the amendments in the above notification No.5/2017-
independently without access to the working papers of Central Tax (Rate) and inserted Coal, on which no refund
the statutory auditors and is limited primarily to inquiries of unutilized input tax credit was to be allowed.
of the statutory auditors and company personnel and a CCL has shown Recoverable for Input Tax Credit
selective examination of some of the accounting records.
amounting to ₹ 1,455.57 crore of which ₹ 1,273.94 crore
The Audit Report has been revised by the statutory
pertains to the period prior to the notification of July 2022
auditor to give effect to some of my audit observations
and the balance ₹ 181.64 crore pertains to the period after
raised during supplementary audit.
the notification of July 2022, on which CCL is not eligible
In addition, I would like to highlight the following for claiming refund.
significant matters under section 143(6)(b) of the Act
Rate of GST on output i.e. sale of coal is 5 per cent while
which have come to my attention and which in my view
inputs are taxed at 18 per cent, thereby resulting in
are necessary for enabling a better understanding of the
accumulation of receivable for Input Tax Credit. CCL has
financial statements and related audit report:
applied for the refund amounting to ₹ 61.96 crore for the
A. Comment on Disclosure year 2018-19. However, the same has been rejected by
A.1 Balance Sheet the Tax Authorities citing non availability of supporting
invoices/ documents and it was also advised to submit
A.1.1 Current Asset: Other Current Assets (Note No. 11)
fresh claim with proper documents. No further claim for
Input Tax Credit Receivable: Rs. 1455.57 Cr. refund was filed by CCL. Though, no timeline has been
As per the Ind AS -01, an entity has to provide information prescribed under the GST Act for utilisation of Input Tax
that is not presented elsewhere in the financial statements Credit, it is worth noting that due to significant difference
but is relevant to an understanding of any of them. It in Rate of input and output tax, CCL is unable to adjust the
further states that an entity has to disclose information
tax credit for previous years and tax credit is increasing
about the assumptions which it makes about the future,
with time. Further, matter of refund/ accumulation of
and other major sources of estimation uncertainty at the
end of the reporting period, that have a significant risk of Input Tax Credit has not been taken up by CCL with Higher
resulting in a material adjustment to the carrying amounts Authorities. However, the same has been taken up by
of assets and liabilities within the next financial year. holding company Coal India with Higher Authorities.

101
Neither CCL nor Statutory Auditors in his Report, recognized as asset and shall be depreciated or amortized
has disclosed the above-mentioned facts and their on a systematic basis, over the expected useful life.
explanations to carry forward the Input Tax Credit and The Accounting Policy of the Company related to Stripping
above stated facts in the Financial Statements/ Report of Activity Adjustment stipulates that in the mines with rated
Auditors, which is in violation of Ind AS- 01. Non-disclosure capacity of one millions tonne per annum and above,
of facts which are integral to the understanding of the the cost of Stripping is charged on technically evaluated
users of financial Statements in taking informed decisions average stripping ratio (OB: COAL) at each mine with due
resulted in deficiency in disclosure requirements. adjustment for stripping activity assets and ratio variance
account after the mines are brought to revenue. Net of
A.1.2. Stripping Activity Adjustment: ₹ 3,639.59 crore
balances of stripping activity asset and ratio variance
(Note 21)
in the balance Sheet date is shown is Stripping Activity
As per the Ind AS -01, an entity has to provide information
Adjustment under the head Non-Current Provisions/
that is not presented elsewhere in the financial statements
(Other Non- Current Assets as the case may be.
but is relevant to an understanding of any of them. Further,
The above policy on OBR adopted by the company is not
it states that when an entity departs from a requirement
in compliance with the provisions of Ind AS 16 (appendix
of an Ind AS it had to disclose that it has complied with
B). Further, the projects of CCL, while computing the
applicable Ind ASs, except that it has departed from a
advance stripping, adopted different methods, which is a
particular requirement to present a true and fair view
non-compliance of the provisions of CAS-23.
Institute of Cost Accountants of India (ICMAI), in 2017,
CCL had never reviewed the above accounting policy with
issued Cost Accounting Standard 23 (CAS-23) to bring
reference to the provisions of Ind AS- 16 as well as CAS-
uniformity. Consistency in the principles, methods of
23. Also, the explanation of continuing with the present
determining and assigning Overburden Removal Cost
system of OBR assessment is in deviation or provisions of
(OBR) with reasonable accuracy. CAS-23 while defining,
CAS-23 and Ind AS 16 and is not disclosed in the accounts
the various key components of OBR assessment also
which is non-compliance of Ind AS -01.
define methodology for Advance Stripping3.
Also, Ind AS 16 stated that the stripping activity has to be

For and on behalf of the

Comptroller and Auditor General of
India

Sd/-
(Atul Prakash)
Principal Director of Audit (Coal)
Kolkata
Place : Kolkata
Date : 30 June 2023

102
 COMMENTS OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA UNDER SECTION 143 (6) (b)
READ WITH SECTION 129 (4) OF THE COMPANIES ACT, 2013 ON THE CONSOLIDATED FINANCIAL STATEMENTS
OF CENTRAL COALFIELDS LIMITED FOR THE YEAR ENDED 31 MARCH 2023

The preparation of consolidated financial statements and other major sources of estimation uncertainty at the
of Central Coalfields Limited for the year ended 31 end of the reporting period, that have a significant risk of
March 2023 in accordance with the financial reporting resulting in a material adjustment to the carrying amounts
framework prescribed under the Companies Act, 2013 of assets and liabilities within the next financial year.
(Act) is the responsibility of the management of the
Ministry of Finance, Government of India, vide Notification
company. The statutory auditors appointed by the
No.5/2017-Central Tax (Rate) dated 28 June 2017, notified
Comptroller and Auditor General of India under section
the description of goods, in respect of which no refund
139 (5) read with section 129(4) of the Act is responsible
of unutilized input tax credit shall be allowed, where the
for expressing opinion on the financial statements under
credit has accumulated on account of rate of tax on inputs
section 143 read with section 129(4) of the Act based on
being higher than the rate of tax on the output supplies of
independent audit in accordance with the standards on
such goods. ‘Coal’ was not figuring in the above list.
auditing prescribed under section 143 (10) of the Act. This
is stated to have been done by them vide their Revised Unutilized input tax credit can be allowed as refund in
Audit Report dated 13 June 2023 which supersedes their accordance with the provisions of section 54(3) of the CGST
earlier Audit Report dated 27 April 2023. Act 2017 where credit has accumulated on account of rate
of tax on inputs being higher than the rate of taxes on
I, on behalf of the Comptroller and Auditor General of
output supplies except where goods or services has been
India, have conducted a supplementary audit of the
notified by the Government on the recommendations of
consolidated financial statements of Central Coalfields
the Council. Further, for utilization of the Input Tax Credit,
Limited for the year ended 31 March 2023 under
no timeline is prescribed.
section 143(6)(a) read with section 129(4) of the Act.
We conducted a supplementary audit of the financial Ministry of Finance, Government of India, vide Notification
statements of Central Coalfields Limited and its subsidiary No.09/2017-Central Tax (Rate) dated 13 July 2022 made
Jharkhand Central Railway Limited for the year ended on the amendments in the above notification No.5/2017-
that date. This supplementary audit has been carried out Central Tax (Rate) and inserted Coal, on which no refund
independently without access to the working papers of of unutilized input tax credit was to be allowed.
the statutory auditors and is limited primarily to inquiries CCL has shown Recoverable for Input Tax Credit
of the statutory auditors and company personnel and a amounting to ₹ 1,455.57 crore of which ₹ 1,273.94 crore
selective examination of some of the accounting records. pertains to the period prior to the notification of July 2022
The Audit Report has been revised by the statutory and the balance ₹ 181.64 crore pertains to the period after
auditor to give effect to some of my audit observations the notification of July 2022, on which CCL is not eligible
raised during supplementary audit. for claiming refund.
In addition, I would like to highlight the following Rate of GST on output i.e. sale of coal is 5 per cent while
significant matters under section 143 (6)(b) read with inputs are taxed at 18 per cent, thereby resulting in
section 129 (4) of the Act which have come to my attention accumulation of receivable for Input Tax Credit. CCL has
and which in my view are necessary for enabling a better applied for the refund amounting to ₹ 61.96 crore for the
understanding of the consolidated financial statements year 2018-19. However, the same has been rejected by
and the related audit report: the Tax Authorities citing non-availability of supporting
A. Comment on Disclosure invoices/ documents and it was also advised to submit
A.1 Balance Sheet fresh claim with proper documents. No further claim for
refund was filed by CCL. Though, no timeline has been
A.1.1 Current Asset: Other Current Assets (Note No. 11)
prescribed under the GST Act for utilization of Input Tax
Input Tax Credit Receivable: Rs. 1481.70 Cr. Credit, it is worth noting that due to significant difference
in Rate of input and output tax, CCL is unable to adjust the
As per the Ind AS -01, an entity has to provide information
tax credit for previous years and tax credit is increasing
that is not presented elsewhere in the financial statements
with time. Further, matter of refund/ accumulation of
but is relevant to an understanding of any of them. It
Input Tax Credit has not been taken up by CCL with Higher
further states that an entity has to disclose information
Authorities. However, the same has been taken up by
about the assumptions which it makes about the future,
holding company Coal India with Higher Authorities.

103
Neither CCL nor Statutory Auditors in his Report, The above policy on OBR adopted by the company is not
has disclosed the above-mentioned facts and their in compliance with the provisions of Ind AS 16 (appendix
explanations to carry forward the Input Tax Credit and B). Further, the projects of CCL, while computing the
above stated facts in the Financial Statements/ Report of advance stripping, adopted different methods, which is a
Auditors, which is in violation of Ind AS- 01. Non-disclosure non-compliance of the provisions of CAS-23.
of facts which are integral to the understanding of the
CCL had never reviewed the above accounting policy with
users of financial Statements in taking informed decisions
reference to the provisions of Ind AS- 16 as well as CAS-
resulted in deficiency in disclosure requirements.
23. Also, the explanation of continuing with the present
system of OBR assessment is in deviation or provisions of
A.1.2. Stripping Activity Adjustment: ₹ 3,639.59 crore
CAS-23 and Ind AS 16 and is not disclosed in the accounts
(Note 21)
which is non-compliance of Ind AS -01.
As per the Ind AS -01, an entity has to provide information
that is not presented elsewhere in the financial statements A. 2. Note -38 — Additional Notes to the Financial
but is relevant to an understanding of any of them. Further, Statements
it states that when an entity departs from a requirement
As per the Ind AS -01 an entity had to provide information
of an Ind AS it had to disclose that it has complied with
that is not presented elsewhere in the financial statements
applicable Ind ASs, except that it has departed from a
but is relevant to an understanding of any of them. It is
particular requirement to present a true and fair view
further states that an entity had to disclose information
Institute of Cost Accountants of India (ICMAI), in 2017, about the assumptions which makes about the future
issued Cost Accounting Standard 23 (CAS-23) to bring and other major sources of’ estimation uncertainty at the
uniformity. Consistency in the principles, methods of end of the reporting period, that have a significant risk of
determining and assigning Overburden Removal Cost resulting in a material adjustment to the carrying amounts
(OBR) with reasonable accuracy. CAS-23 while defining, of assets and liabilities within the next financial year.
the various key components of OBR assessment also
Demand of ₹ 216.55 crore has been raised by Government
define methodology for Advance Stripping.
of Jharkhand (January 2022 towards transfer of 61.44
Also, Ind AS 16 stated that the stripping activity has to be Ha land to Jharkhand Central Railway Limited (JCRL).
recognized as asset and shall be depreciated or amortized Management of “JCRL, argued (July 2022) that the
on a systematic basis, over the expected useful life. demand raised, was based on higher rate of commercial
land in place of agricultural land. Though, the matter
The Accounting Policy of the Company related to Stripping
was discussed at different level of State Government and
Activity Adjustment stipulates that in the mines with
Ministry of Coal, the issue however, remained unresolved
rated capacity of one million tonne per annum and above,
till March 2023. On resolution of the matter regarding
the cost of Stripping is charged on technically evaluated
pricing of the land, the payment shall be transferred to
average stripping ratio (OB: COAL) at each mine with due
Government of Jharkhand for obtaining the possession
adjustment for stripping activity assets and ratio variance
of land. However, the issue has not been disclosed in the
account after the mines are brought to revenue. Net of
Financial Statements for the year ended March 2023. Non-
balances of stripping activity asset and ratio variance
disclosure of the issue in the Financial Statements is in
in the balance Sheet date is shown is Stripping Activity
violation of Ind AS- 01.
Adjustment under the head Non-Current Provisions/
(Other Non- Current Assets as the case may be.
For and on behalf of the
Comptroller and Auditor General of
India

Sd/-
(Atul Prakash)
Principal Director of Audit (Coal)
Kolkata
Place : Kolkata
Date : 30 June 2023

104
 ANNEXURE -A
MANAGEMENT REPLY TO THE COMMENTS OF
COMPTROLLER AND AUDITOR GENERAL OF INDIA

STANDALONE
C&AG Comments Management Reply
A.1 Balance Sheet
A.1.1 Current Asset: Other current Assets (Note 11)
Input Tax Credit Receivable: 1,455.57 crore

As per the Ind AS -01, an entity has to provide The carrying forward of Input Tax Credit – GST (ITC –
information that is not presented elsewhere in the GST) in the books of account as recoverable is subject
to various factors both internal and external such as coal
financial statements but is relevant to an understanding
price revision, future volume increase, change in GST rate
of any of them. It further states that an entity has to on coal, future decision on compensation cess, litigation
disclose information about the assumptions which on royalty, others business dynamics, diversification
and further passage of reasonable time as mandated in
it makes about the future, and other major sources
EAC opinion (Expert Advisory Committee) of Institute of
of estimation uncertainty at the end of the reporting Chartered Accounts of India. The present trend of ITC –
period, that have a significant risk of resulting in a GST accumulation has witnessed a reduction trend and
expected to reduce further. Moreover, the GST has been
material adjustment to the carrying amounts of assets
implemented in the year 2017 in India and keeping
and liabilities within the next financial year. in view the overall industry span and going business
concept, there is substantial period of time left in future
Ministry of Finance, Government of India, vide
from the Industry perspective. Hence, the future passage
Notification No.5/2017-Central Tax (Rate) dated 28 June of reasonable time is still to be achieved to have a rational
2017, notified the description of goods, in respect of decision in the said matter.
which no refund of unutilized input tax credit shall be In the said matter, the Rule 89 (5) prescribes formula to
allowed, where the credit has accumulated on account calculate eligible refund of ITC in case of Inverted Duty
of rate of tax on inputs being higher than the rate of Structure. Since inception of GST till July 2022, refund was
available only for ITC on input goods. However, the same
tax on the output supplies of such goods. ‘Coal’ was not was amended to include input services vide Notification
figuring in the above list. No. 14/2022. Further, it has also been notified that Coal
Industry shall be ineligible for refund of unutilised Input
Unutilized input tax credit can be allowed as refund Tax credit, where the credit has accumulated on account
in accordance with the provisions of section 54(3) of of Inverted Tax Duty Structure vide notification no.
the CGST Act 2017 where credit has accumulated on 09/2022. In such scenario, the possibility of any refund is
very remote for coal industry.
account of rate of tax on inputs being higher than the
rate of taxes on output supplies except where goods or
services has been notified by the Government on the
recommendations of the Council. Further, for utilization
of the Input Tax Credit, no timeline is prescribed.

105
Ministry of Finance, Government of India, vide With respect to disclosure of the said event, the
Notification No.09/2017-Central Tax (Rate) dated following are worth noticing; The objective of Ind AS –
13 July 2022 made the amendments in the above 1 ‘Presentation of Financial Statements’ it to prescribe
notification No.5/2017-Central Tax (Rate) and inserted the basis for presentation of general-purpose financial
Coal, on which no refund of unutilized input tax credit statements to ensure comparability both with the entity’s
was to be allowed. financial statements of previous periods and with the
financial statements of other entities. It sets out overall
CCL has shown Recoverable for Input Tax Credit
requirements for the presentation of financial statements,
amounting to ₹ 1,455.57 crore of which ₹ 1,273.94 crore
guidelines for their structure and minimum requirements
pertains to the period prior to the notification of July
for their content. Hence, the Ind AS 1 establishes
2022 and the balance ₹ 181.64 crore pertains to the the minimum requirements for the preparation and
period after the notification of July 2022, on which CCL presentation of financial statements.
is not eligible for claiming refund.
Further, the clause 48 of Ind AS – 1 state that this
Rate of GST on output i.e. sale of coal is 5 per cent while
Standard sometimes uses the term ‘disclosure’ in a broad
inputs are taxed at 18 per cent, thereby resulting in
sense, encompassing items presented in the financial
accumulation of receivable for Input Tax Credit. CCL
statements. Disclosures are also required by other Ind
has applied for the refund amounting to ₹ 61.96 crore
ASs. Unless specified to the contrary elsewhere in this
for the year 2018-19. However, the same has been
Standard or in another Ind AS, such disclosures may be
rejected by the Tax Authorities citing non availability
made in the financial statements.
of supporting invoices/ documents and it was also
advised to submit fresh claim with proper documents. Moreover, the “Framework for the Preparation and
No further claim for refund was filed by CCL. Though, Presentation of Financial Statements in accordance with
no timeline has been prescribed under the GST Act for Indian Accounting Standards (Ind AS), vide its clause 44
utilisation of Input Tax Credit, it is worth noting that due to 45 states that there are constraints on information /
to significant difference in Rate of input and output tax, discourse such as timeliness, balance between benefit
CCL is unable to adjust the tax credit for previous years and cost, balance between qualitative characteristics (i.e.
and tax credit is increasing with time. Further, matter of excessive disclosure).
refund/ accumulation of Input Tax Credit has not been In the above matter, it is further submitted that there is
taken up by CCL with Higher Authorities. However, the no specific requirement under applicable Ind AS to make
same has been taken up by holding company Coal a specific disclosure in the matter of carrying forward
India with Higher Authorities. of Input Tax Credit. Hence, the same event falls under
Neither CCL nor Statutory Auditors in his Report, the other voluntary disclosure to be included in the
has disclosed the above-mentioned facts and their Financial Statements. As, the other relevant information
explanations to carry forward the Input Tax Credit in the said subject matter are already in the market i.e.
and above stated facts in the Financial Statements/ industry information, statutory provisions and other
Report of Auditors, which is in violation of Ind AS- platforms, any specific discourse in the said matter is not
01. Non-disclosure of facts which are integral to the made in the Financial Statements. Nevertheless, as the
understanding of the users of financial Statements same is specifically observed by the CAG Audit team,
in taking informed decisions resulted in deficiency in the same would be complied with in the future Financial
disclosure requirements. Statements.

106
A 1.2. Stripping Activity Adjustment: ₹ 3,639.59
crore (Note 21)
As per the Ind AS -01, an entity has to provide information Ind AS 1 establishes the minimum requirements for the
that is not presented elsewhere in the financial presentation of financial statements. It also specifies the
statements but is relevant to an understanding of any minimum requirements for disclosures in the notes to
of them. Further, it states that when an entity departs the financial statements to present true & fair view.
from a requirement of an Ind AS it had to disclose that
it has complied with applicable Ind ASs, except that it Para 20 of Ind AS 1 deals with the disclosure requirement
has departed from a particular requirement to present when an entity departs from a requirement of an Ind
a true and fair view AS i.e. when management concludes that, compliance
Institute of Cost Accountants of India (ICMAI), in 2017, with a requirement in an Ind AS would be so misleading
issued Cost Accounting Standard 23 (CAS-23) to bring that it would conflict with the objective of financial
uniformity. Consistency in the principles, methods of statements set out in the Framework.
determining and assigning Overburden Removal Cost
As far as, the aspect of non- compliance of CAS (i.e. Cost
(OBR) with reasonable accuracy. CAS-23 while defining,
the various key components of OBR assessment also Accounting Standards) 23 is concerned, a reference
define methodology for Advance Stripping3. may please be made to the Para 20 of Ind AS 1 which
specifically states that non-compliance of requirement
Also, Ind AS 16 stated that the stripping activity has
to be recognized as asset and shall be depreciated or of an Ind AS is required to be disclosed rather than Cost
amortized on a systematic basis, over the expected Accounting Standard. Moreover, there is no applicability
useful life. of CAS in the preparation of financial statements and
The Accounting Policy of the Company related to by its inherent nature, the CAS is to be complied with
Stripping Activity Adjustment stipulates that in the in preparation of the cost statements / cost accounting
mines with rated capacity of one millions tonne per records.
annum and above, the cost of Stripping is charged on With respect to the provisions of Appendix B to Ind
technically evaluated average stripping ratio (OB: COAL)
AS 16, it may be noted that it deals with accounting
at each mine with due adjustment for stripping activity
treatment of stripping costs in the production phase
assets and ratio variance account after the mines are
of surface mine and further prescribes the creation of
brought to revenue. Net of balances of stripping
activity asset and ratio variance in the balance Sheet an asset only, leaving apart ratio variance as liability
date is shown is Stripping Activity Adjustment under i.e. only favourable mining conditions. All relevant
the head Non-Current Provisions/ (Other Non- Current information in the said matter has suitably and properly
Assets as the case may be. been disclosed in the respective accounting policy i.e.
The above policy on OBR adopted by the company stripping activity expense / adjustment. As such, there
is not in compliance with the provisions of Ind AS is no-noncompliance or deviation in the said subject
16 (appendix B). Further, the projects of CCL, while matter from the applicable / governing Ind AS16-.
computing the advance stripping, adopted different
methods, which is a non-compliance of the provisions
of CAS-23.
CCL had never reviewed the above accounting policy
with reference to the provisions of Ind AS- 16 as well
as CAS-23. Also, the explanation of continuing with the
present system of OBR assessment is in deviation or
provisions of CAS-23 and Ind AS 16 and is not disclosed
in the accounts which is non-compliance of Ind AS -01.

107
 CONSOLIDATED
C&AG Comments Management Reply
A.1 Balance Sheet
A.1.1 Current Asset: Other current Assets (Note 11)
Input Tax Credit Receivable: 1481.70 crore
As per the Ind AS -01, an entity has to provide information The carrying forward of Input Tax Credit – GST (ITC –
that is not presented elsewhere in the financial statements GST) in the books of account as recoverable is subject
but is relevant to an understanding of any of them. It further to various factors both internal and external such as
states that an entity has to disclose information about the coal price revision, future volume increase, change
in GST rate on coal, future decision on compensation
assumptions which it makes about the future, and other
cess, litigation on royalty, others business dynamics,
major sources of estimation uncertainty at the end of the
diversification and further passage of reasonable
reporting period, that have a significant risk of resulting in a time as mandated in EAC opinion (Expert Advisory
material adjustment to the carrying amounts of assets and Committee) of Institute of Chartered Accounts of
liabilities within the next financial year. India. The present trend of ITC – GST accumulation has
witnessed a reduction trend and expected to reduce
Ministry of Finance, Government of India, vide Notification further. Moreover, the GST has been implemented
No.5/2017-Central Tax (Rate) dated 28 June 2017, notified in the year 2017 in India and keeping in view the
the description of goods, in respect of which no refund overall industry span and going business concept,
there is substantial period of time left in future from
of unutilized input tax credit shall be allowed, where the
the Industry perspective. Hence, the future passage
credit has accumulated on account of rate of tax on inputs
of reasonable time is still to be achieved to have a
being higher than the rate of tax on the output supplies of rational decision in the said matter.
such goods. ‘Coal’ was not figuring in the above list.
In the said matter, the Rule 89 (5) prescribes formula
Unutilized input tax credit can be allowed as refund in to calculate eligible refund of ITC in case of Inverted
Duty Structure. Since inception of GST till July 2022,
accordance with the provisions of section 54(3) of the CGST
refund was available only for ITC on input goods.
Act 2017 where credit has accumulated on account of rate
However, the same was amended to include input
of tax on inputs being higher than the rate of taxes on services vide Notification No. 14/2022. Further, it
output supplies except where goods or services has been has also been notified that Coal Industry shall be
notified by the Government on the recommendations of ineligible for refund of unutilised Input Tax credit,
the Council. Further, for utilization of the Input Tax Credit, where the credit has accumulated on account of
no timeline is prescribed. Inverted Tax Duty Structure vide notification no.
09/2022. In such scenario, the possibility of any
Ministry of Finance, Government of India, vide Notification refund is very remote for coal industry.
No.09/2017-Central Tax (Rate) dated 13 July 2022 made
the amendments in the above notification No.5/2017-
Central Tax (Rate) and inserted Coal, on which no refund of
unutilized input tax credit was to be allowed.

108
CCL has shown Recoverable for Input Tax Credit amounting With respect to disclosure of the said event, the
to ₹ 1,455.57 crore of which ₹ 1,273.94 crore pertains to the following are worth noticing; The objective of Ind AS –
1 ‘Presentation of Financial Statements’ it to prescribe
period prior to the notification of July 2022 and the balance
the basis for presentation of general-purpose financial
₹ 181.64 crore pertains to the period after the notification of statements to ensure comparability both with the
July 2022, on which CCL is not eligible for claiming refund. entity’s financial statements of previous periods
and with the financial statements of other entities.
Rate of GST on output i.e. sale of coal is 5 per cent while It sets out overall requirements for the presentation
inputs are taxed at 18 per cent, thereby resulting in of financial statements, guidelines for their structure
and minimum requirements for their content. Hence,
accumulation of receivable for Input Tax Credit. CCL has
the Ind AS 1 establishes the minimum requirements
applied for the refund amounting to ₹ 61.96 crore for the for the preparation and presentation of financial
year 2018-19. However, the same has been rejected by statements.
the Tax Authorities citing non-availability of supporting
Further, the clause 48 of Ind AS – 1 states that this
invoices/ documents and it was also advised to submit fresh Standard sometimes uses the term ‘disclosure’ in a
claim with proper documents. No further claim for refund broad sense, encompassing items presented in the
was filed by CCL. Though, no timeline has been prescribed financial statements. Disclosures are also required
by other Ind ASs. Unless specified to the contrary
under the GST Act for utilization of Input Tax Credit, it is
elsewhere in this Standard or in another Ind AS, such
worth noting that due to significant difference in Rate of disclosures may be made in the financial statements.
input and output tax, CCL is unable to adjust the tax credit
Moreover, the “Framework for the Preparation and
for previous years and tax credit is increasing with time.
Presentation of Financial Statements in accordance
Further, matter of refund/ accumulation of Input Tax Credit with Indian Accounting Standards (Ind AS), vide
has not been taken up by CCL with Higher Authorities. its clause 44 to 45 states that there are constraints
However, the same has been taken up by holding company on information / discourse such as timeliness,
balance between benefit and cost, balance between
Coal India with Higher Authorities.
qualitative characteristics (i.e. excessive disclosure).
Neither CCL nor Statutory Auditors in his Report, In the above matter, it is further submitted that there
has disclosed the above-mentioned facts and their is no specific requirement under applicable Ind AS to
explanations to carry forward the Input Tax Credit and make a specific disclosure in the matter of carrying
forward of Input Tax Credit. Hence, the same event falls
above stated facts in the Financial Statements/ Report of
under the other voluntary disclosure to be included
Auditors, which is in violation of Ind AS- 01. Non-disclosure in the Financial Statements. As, the other relevant
of facts which are integral to the understanding of the information in the said subject matter are already
users of financial Statements in taking informed decisions in the market i.e. industry information, statutory
provisions and other platforms, any specific discourse
resulted in deficiency in disclosure requirements.
in the said matter is not made in the Financial
Statements. Nevertheless, as the same is specifically
observed by the CAG Audit team, the same would be
complied with in the future Financial Statements..

109
A 1.2. Stripping Activity Adjustment: ₹ 3,639.59 crore
(Note 21)

As per the Ind AS -01, an entity has to provide information

Ind AS 1 establishes the minimum requirements
that is not presented elsewhere in the financial statements
for the presentation of financial statements. It also
but is relevant to an understanding of any of them. Further,
specifies the minimum requirements for disclosures in
it states that when an entity departs from a requirement
the notes to the financial statements to present true
of an Ind AS it had to disclose that it has complied with
applicable Ind ASs, except that it has departed from a & fair view.
particular requirement to present a true and fair view
Para 20 of Ind AS 1 deals with the disclosure
Institute of Cost Accountants of India (ICMAI), in 2017, requirement when an entity departs from a
issued Cost Accounting Standard 23 (CAS-23) to bring requirement of an Ind AS i.e. when management
uniformity. Consistency in the principles, methods of
concludes that, compliance with a requirement in an
determining and assigning Overburden Removal Cost
Ind AS would be so misleading that it would conflict
(OBR) with reasonable accuracy. CAS-23 while defining,
with the objective of financial statements set out in
the various key components of OBR assessment also define
the Framework.
methodology for Advance Stripping.

Also, Ind AS 16 stated that the stripping activity has to be As far as, the aspect of non- compliance of CAS (i.e.
recognized as asset and shall be depreciated or amortized Cost Accounting Standards) 23 is concerned, a
on a systematic basis, over the expected useful life. reference may please be made to the Para 20 of Ind
The Accounting Policy of the Company related to Stripping AS 1 which specifically states that non-compliance of
Activity Adjustment stipulates that in the mines with requirement of an Ind AS is required to be disclosed
rated capacity of one million tonne per annum and above, rather than Cost Accounting Standard. Moreover,
the cost of Stripping is charged on technically evaluated there is no applicability of CAS in the preparation of
average stripping ratio (OB: COAL) at each mine with due financial statements and by its inherent nature, the
adjustment for stripping activity assets and ratio variance CAS is to be complied with in preparation of the cost
account after the mines are brought to revenue. Net of statements / cost accounting records.
balances of stripping activity asset and ratio variance
in the balance Sheet date is shown is Stripping Activity With respect to the provisions of Appendix B to Ind
Adjustment under the head Non-Current Provisions/ (Other AS 16, it may be noted that it deals with accounting
Non- Current Assets as the case may be. treatment of stripping costs in the production phase
The above policy on OBR adopted by the company is not in of surface mine and further prescribes the creation of
compliance with the provisions of Ind AS 16 (appendix B). an asset only, leaving apart ratio variance as liability
Further, the projects of CCL, while computing the advance i.e. only favourable mining conditions. All relevant
stripping, adopted different methods, which is a non- information in the said matter has suitably and
compliance of the provisions of CAS-23. properly been disclosed in the respective accounting
CCL had never reviewed the above accounting policy with policy i.e. stripping activity expense / adjustment. As
reference to the provisions of Ind AS- 16 as well as CAS-23. such, there is no-noncompliance or deviation in the
Also, the explanation of continuing with the present system said subject matter from the applicable / governing
of OBR assessment is in deviation or provisions of CAS-23 Ind AS-16.
and Ind AS 16 and is not disclosed in the accounts which is
non-compliance of Ind AS -01.

110
A.2. Note -38 — Additional Notes to the Financial
Statements
As per the Ind AS - 01 an entity had to provide information In the approved DPR of JCRL, the provision against
that is not presented elsewhere in the financial statements land is made to the tune of Rs. 281.62 cr. including
but is relevant to an understanding of any of them. It is land assistance fee of project execution agency. The
further states that an entity had to disclose information above amount was ascertained considering the rate
about the assumptions which makes about the future of Government of Jharkhand. The authorities while
and other major sources of’ estimation uncertainty at the computing the amount has considered commercial
end of the reporting period, that have a significant risk of rate instead of rural agricultural rate which has
resulting in a material adjustment to the carrying amounts resulted in computation of abnormally higher
amount. Further, the state authorities have already
of assets and liabilities within the next financial year.
accepted for revision of the demand and the matter
Demand of ₹ 216.55 crore has been raised by Government has never been perused by the state authorities for
of Jharkhand (January 2022 towards transfer of 61.44 payment.
Ha land to Jharkhand Central Railway Limited (JCRL). As per PARA 28, paragraph 86 of the provisions of
Management of“JCRL, argued (July 2022) that the demand Ind AS -37, the conditions in relation to disclosure
raised, was based on higher rate of commercial land in place under the head contingent liability also not satisfied.
of agricultural land. Though, the matter was discussed at
The Ind AS-1 establishes the minimum requirement
different level of State Government and Ministry of Coal, the for the preparation and presentation of financial
issue, however, remained unresolved till March 2023. On statements. There is no specific requirement under
resolution of the matter regarding pricing of the land, the applicable Ind AS to make a specific disclose in
payment shall be transferred to Government of Jharkhand such matters. The same event falls under the other
for obtaining the possession of land. However, the issue voluntary discourse to be included in the Financial
has not been disclosed in the Financial Statements for the Statements. Nevertheless, as the same is specifically
year ended March 2023. Non-disclosure of the issue in the observed by the CAG Audit team, the same would
Financial Statements is in violation of Ind AS- 01. be complied in the future Financial Statements.

111
 ANNEXURE -V

CEO AND CFO CERTIFICATION

Date: 27/04/2023
To
The Board of Directors
Central Coalfields Limited
We, P.M. Prasad, Chairman-cum-Managing Director, Central Coalfields Limited, Ranchi and Pawan Kumar Mishra, Director
(Finance). Central Coalfields Limited, Ranchi; responsible for the finance function certify that:
a. We have reviewed the Financial Statements of the Company for the Year Ended 31st March 2023 together with
Accounting Policies and Additional Notes thereon as well as Financial statements for the year ended on 31"
March 2023 as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
and that to the best of our knowledge and belief:
i. These statements do not contain any materially untrue statement or omit any material fact or contain
statements that might be misleading;
ii. These statements together present a true and fair view of the company's affairs and are in compliance
with existing accounting standards i.e. IND AS, applicable laws and regulations without any material
departure.
b. There are, to the best of our knowledge and belief, no transactions entered into by the company during the Year
Ended 31st March 2023 are fraudulent, illegal or violative of the company's code of conduct.
c. We accept responsibility for establishing and maintaining internal controls for financial reporting and we have
evaluated the effectiveness of internal control systems of the company pertaining to financial reporting and
we have disclosed to the auditors and the Audit Committee, deficiencies in the design or operation of such
internal controls, if any, of which they are aware and the steps they have taken or propose to take to rectify these
deficiencies.
d. We have indicated to the auditors and the Audit Committee that:
i. There has not been any significant changes in internal control over financial reporting during the year
under reference;
ii. There has not been any significant change in accounting policies during the period.
iii. We have not become aware of any instance of significant fraud with involvement therein of the management
or an employee having a significant role in the company's internal control system over financial reporting.

Sd/- Sd/-
(Pawan Kumar Mishra) (P. M. Prasad)
Director (Finance) Chairman-cum-Managing Director
DIN-09665365 DIN-08073913

112
 Annexure – VI
INFORMATION AS PER RULE-5 APPOINTMENT & REMUNERATION - OF
MANAGERIAL PERSONNEL RULES, 2014 UNDER CHAPTER XII

List of employees drawing 1.02* Crore (One Crore and Two Lakh Rupees) or more during the
year 2022-23

SI. Name Description Remuneration Nature of Employment Qualification Experience

during the year(Rs.) Permanent / Temporary (inYears)
Nil NA NA NA NA NA

Employees who are in receipt of remuneration at a rate which in the aggregate were not less
than 8.50* Lakh (Eight Lakh and Fifty Thousand Rupees) per month for part of the year 2022-23

SI. Name Description Remunerationduring Nature of Qualification Experience

the year(Rs.) Employment (inYears)
Permanent /
Temporary
Nil NA NA NA NA NA

113
 Annexure-VII

INFORMATION UNDER SECTION 134 (3m) OF THE COMPANIES ACT 2013 READ
WITH RULE-8 OFCOMPANIES (ACCOUNTS) RULES, 2014 UNDER SUB CLAUSE 3(A).
CONSERVATION OF ENERGY

I. The steps taken or impact on conservation of energy in the year 2022-23;

A. Steps taken for conservation of electrical energy power as below:
a. Installation at Capacitor Bank:
i. Installation at load points for reduction in Maximum Demand by improvement of Power Factor.
ii. Improvement of power factor by use of Capacitor banks with all ventilation fans, directly, for underground
mines.
iii. Tender has been done for 20 sets 7360 KVAR Capacitor banks. Installation of the same will improve Power
factor, which will further reduce power Bill, 6500 KVAR capacitor banks installed during 2022-23 for P.F.
improvement.
b. Energy conservation measures in pumping system:
i. Reduction of stages, increase of pipe diameter, ensuring adequate NPSH (Net Positive Suction Head) and
removal of intermediate stage pumping.
ii. Procurement of pumps and pipes of suitable capacity and diameter respectively has been madefor this
purpose.
iii. Availability of basic instruments in the pumps like pressure gauges, flow meters etc. is being ensured so
that operation of pumps near their best efficiency point is carried out.
c. Energy conservation measures in Motors & Transformers:
i. Optimum loading of motor & transformers by proper selection of load and rating of the equipment.
ii. Improving power supply quality and power transmission efficiency.
iii. By improving power factor and replacement by energy efficient motors and transformers.
iv. Procurement of energy efficient Motors & Transformers of suitable capacity has been made for
this purpose.
d. Replacement of conventional lights by LED lights:
i. In FY 2022-23, order placed for 16301 nos of LED lights of different ratings. Order placed for 5863 nos
of Super fans. Order placed for 539 nos of Energy Efficient ACs. Order placed for 226 nos of Auto timers.
Order placed for 60 nos of efficient water heaters. Tendering done for 20 Nos., 7360KVAR Capacitor
Banks. Order placed for hiring of 16 nos of Electric Vehicles for CCL HQ and 06 Nos at Piparwar area, all
22Nos EV are present running.
ii. In FY 2022-23, 190 nos. of Lighting Towers, each fitted with 8*300 W LED fittings, have been installed
in different Areas of CCL.
e. Replacement of old and surveyed–off electrical machines by energy efficient electrical machines/appliances
(Five-star rating).

114
B. Its Impact
By adopting the above measures:

a. Specific energy consumption is being reduced year-on-year basis.

b. Power factor at receiving points of DVC supply have improved. Power Factor at all power receiving points is
being maintained above 0.90. This has enhanced the life and smooth runningof electrical machines working
in the field.
c. There is reduction in electricity bill on account of increased power factor, use of energy efficientequipments/
appliances.

II. The steps taken by the company for utilizing alternate sources of energy:
Total installed capacity (in MWp) of Roof Top Solar Power Plant up to March’22 = 1.25 MWp

Solar Energy data for FY 2022-23:

Sl. Description

1. NIL
Roof Top Solar Power Plant commissioned

2. 20 MW ( ˜ Rs. 142 Crores)

Awarded Land Mounted Solar power project

3. 19.77 MW
Total Solar Power Plants for which Feasibility Report approved

4. ˜ 8,20,000 KWh
Solar Energy generated from Roof top Solar Plants in-KWh

III. The capital investment on energy conservation equipments;

Total capital investment on energy conservation equipment in FY 2022-23 is around Rs. 7.00 Crore.

115
 Annexure –VIII
INFORMATION UNDER SECTION 134 (3m) OF THE COMPANIES ACT 2013 READ
WITH RULE-8 OF COMPANIES (ACCOUNTS) RULES, 2014
UNDER SUB CLAUSE 3(B).
DISCLOSURE OF PARTICULARS WITH RESPECT TO ABSORPTION

RESEARCH AND DEVELOPMENT (R&D)

1. Specific area in which R&D carried out by the The Company does not have its own Research &
Company Development (R&D) set up.
2. Benefits derived as a result of the above R&D NA

3. Future plan of action NA

4. Expenditure on R&D :

a. Capital NIL

b. Recurring NIL

c. Total NIL

Total R&D expenditure as a percentage of total turnover —

116
 Annexure –IX
INFORMATION UNDER SECTION 134 (3m) OF THE COMPANIES ACT 2013 READ
WITH RULE-8 OF COMPANIES (ACCOUNTS) RULES, 2014
UNDER SUB CLAUSE 3(C).
FOREIGN EXCHANGE EARNING & OUTGO

i. Activities relating to exports, initiatives taken to Company is not engaged in export activities
increase exports, development of new export
markets for products, services and export plans.
ii. Total Foreign Exchange used and earned
(Rs. in Cr.)

SI. Description 2022-23 2021-22

A. Foreign Exchange used
1. Interest 0.00 0.00
2. Agency Commission 0.00 0.00
3. Travelling/Training Expenses 0.00 0.01
Total 0.00 0.01

Foreign Exchange Earned : No earning by the Company

117
 Annexure – X
ANNUAL REPORT ON CSR ACTIVITIES FOR FINANCIAL YEAR
COMMENCING ON 1ST DAY OF APRIL, 2022 (FY 2022–23)

1. BRIEF OUTLINE ON CSR POLICY OF THE COMPANY

Central Coalfields Limited has adopted CSR as a strategic tool for sustainable growth. CCL has been undertaking social
development work even before the concept of Corporate Social Responsibility came up under the name Community
Development within a periphery of 8 kms of its project sites.
Central Coalfields Limited has been undertaking CSR activities based on the CSR Policy of the Company. Until September
2021, CSR Policy of CIL communicated by CIL from time to time as applicable to CIL and its subsidiaries was followed
in CCL. The modified CSR Policy of CIL w.e.f.28.10.2020 and subsequent version w.e.f. 08.04.2021 were adopted by CCL
Board from respective effective dates Subsequently, a ‘CCL CSR Policy’ recommended by Board level SD&CSR Committee
was approved by CCL Board and communicated to areas on 11.11.2021.
Allocation of CSR funds is done on the basis of 2% of average net profit of the company for the three immediate preceding
financial years or Rs. 2.00 per tonne of Coal production of immediately preceding financial year, whichever is higher.
The policy lays down provisions/guidelines for unspent or excess CSR amounts in a particular year to be as per statute
which means if CCL spends an amount excess to the mandatory CSR target for a year, the amount can be set-off in
the succeeding years. Likewise, if the CCL fails to spend the mandatory CSR amounts in a financial year same shall be
deposited in Unspent CSR account if it pertains to ongoing projects or else it shall be deposited in funds specified under
schedule VII.
As per CCL CSR policy around 80% of the allocated CSR funds are required to be spent within 25 kms radius of project
sites/ mines/ area HQ/ Company HQ while the remaining 20% can be spent within the state of Jharkhand.
The CSR activities can be taken up in the thematic areas as mentioned in Schedule VII of the Companies Act and as per
directions from DPE or MOC or applicable Act/Rule /Order/Guidelines of the Govt. From 2018 onwards, DPE has issued
guidelines for expenditure on specific themes decided for each year. Expenditure in the theme decided by DPE should
be around 60% and preference should be given to Aspirational districts.
The CCL CSR policy envisages approval of the CSR projects as per following DoPs:

Authority DoP

Board of Directors Projects valuing more than Rs. 1.00 Crore on recommendation of SD&CSR
Committee

Chairman-cum-Managing Director Projects valuing Rs. 40 lakh to Rs. 1.00 Crore on recommendation of CSR Below
Board level Committee

Director (Personnel) Projects of areas valuing more than Rs. 5.00 lakhs upto Rs. 40.00 lakhs and all
projects of HQ valuing upto Rs. 40.00 lakhs on recommendation of CSR Below
Board level Committee

Area GM Projects valuing upto Rs. 5 lakhs on recommendation of Area level CSR sub-
committee.

The CSR policy envisages extant guidelines for selection, planning, implementation, monitoring, impact assessment and
documentation of CSR projects.

118
2. COMPOSITION OF CSR COMMITTEE
Designation/Nature of Number of meetings Number of meetingsof CSR
Sl. Name of Director Directorship of CSR Committee held Committee
during the year attended during the year

1 Shri Ramesh Kumar Chairman, Non-Official 7 7

Soni Part-time Director

2 Shri Vinay Ranjan Member, Director (P&IR), 7 7

CIL w.e.f. 05.08.2021

3 Shri Pawan Kr. Mishra* Member, Director (F), CCL 6 6

4 Shri Harsh Nath Mishra* Member Director (P), 4 4

CCL

* Shri Pawan Kumar Mishra and Shri Harsh Nath Mishra appointed as directors on the Board of the company w.e.f.
10.06.2022 and 24.08.2022 respectively.

3. Provide the web-link where Composition of CSR committee, CSR Policy and CSR projects approved by the
board are disclosed on the website of the company

Web Link: https://www.centralcoalfields.in/sutbs/sdcsr.php

4. Provide the executive summary along with web-link(s) of Impact assessment of CSR projects carried out in
pursuance of sub-rule (3) of rule 8, if applicable :
The executive summary of Impact Assessment of 4 CSR projects conducted in the FY 2022-23 is under below:
Web link of Impact Assessment Report:
https://www.centralcoalfields.in/sutbs/pdf/18_05_2023_impact_assessment_study.pdf
5. (a) Average net profit of the company as per sub-section (5) of section 135 : Rs. 23,13,54,33,333.00
(b) Two percent of average net profit of the company as per sub-section (5) of section 135: Rs. 462708666.70*
(c) Surplus arising out of the CSR projects or programmes or activities of the previous financial years : Rs. 17892584.71
(d) Amount required to be set-off for the financial year : Nil
(e) Total CSR obligation for the financial year [(b)+(c)-(d)] : Rs. 48,06,01,251.41
6. (a) Amount spent on CSR Projects (both Ongoing Project and other than ongoing projects) : Rs. 34,71,52,852.80**
(b) Amount spent in Administrative Overheads: Rs. 13375392.00
(c) Amount spent on Impact Assessment, if applicable: Rs. 696200.00
(d) Total amount spent for the Financial Year [(a)+(b)+(c)] : Rs. 361224444.80
(e) CSR amount spent or unspent for the Financial Year:
* Rounded off to Rs. 462800000/- for accounting purpose.
** May also refer to Note 29 of notes to accounts of FS.

119
 Total Amount spent for the Amount Unspent (in Rs.)
Financial year (in Rs.)
Total amount transferred to unspent Amount transferred to any fund specified
CSR account as per section 135(6) under Schedule VII as per second proviso to
section 135(5)
Amount Date of Transfer Name of the Amount Date of
Fund Transfer
361224444.80 121468139.91* 28.04.2023 NA NA NA

* The amount deposited in the Unspent CSR account includes the surplus arising out of the CSR projects or programmes
or activities of the previous financial years and an additional amount over and above the mandatory amount to be
deposited since the Unspent amount has been calculated on the basis of un-audited CSR expenditure figures.
(f) Excess amount for set-off, if any: Nil

Sl. No. Particular Amount (in Rs.)

(1) (2) (3)
(i) Two percent of average net profit of the company as per sub-section (5) of section 462708666.70
135(5)
(ii) Total amount spent for the Financial Year 361224444.80
(iii) Excess amount spent for the financial year [(ii)-(i)] 0.00
(iv) Surplus arising out of the CSR projects or programmes or activities of the previous 17892584.71
financial years, if any
(v) Amount available for set off in succeeding financial years [(iii)-(iv)] 0.00

7. Details of Unspent Corporate Social Responsibility amount for the preceding three Financial Years:
Sl. Preceding Amount Balance Amount Amount Amount transferred Amount re- Deficiency,
No. Financial transferred in Unspent CSR spent in the to any fund specified maining to be if any
Year. to Unspent Account under reporting under Schedule spent in suc-
CSR Account sub-section (6) Financial Year VII as per section ceeding fin-
under sub-section of section 135 (in Rs.). 135(6), if any. ancial years.
(6) of section 135 (in Rs.) (in Rs.)
(6)
(in Rs.)
Amount Date of
(in Rs.) transfer.
1 2019-20 NA NA NA NA NA NA Nil
2 2020-21 Nil NA NA NA NA NA Nil
3 2021-22 152966397.04 115541995.09 37424401.95 NA NA 115541995.09 Nil
Total 152966397.04 115541995.09 37424401.95 NA NA 115541995.09 Nil
8. Whether any capital assets have been created or acquired through Corporate Social Responsibility amount
spent in the Financial Year: Yes
If Yes, enter the number of Capital assets created/acquired: 118
The details of assets created through Corporate Social Responsibility amount spent in the Financial Year are
enclosed as Annexure A.

120
9. Specify the reason(s), if the company has failed to spend two per cent of the average net profit as per sub-
section (5) of section 135.
Central Coalfields Limited has a shortfall expenditure of Rs. 10.15 Cr due to the following reasons:
1. The CSR project for construction of toilets near 200 Railway Stations in Jharkhand by RITES has been significantly
delayed. An expenditure of around Rs. 13.00 Cr was expected to be incurred in the FY 2022-23, however due to
excessive delay in implementation of the project by M/s RITES and Railways, no further expenditure could be
made against the project in the FY 2022-23 beyond the advance amount already deposited with them earlier
as per MOU.
2. Execution of two high value research projects through AIIMS has been delayed.
3. Utilization certificates against many CSR projects which are being implemented by the implementing
agencies/ Districts have not been received as anticipated in spite of follow up action by CSR Department.
4. Some of the Area level projects could not be implemented as scheduled due to non-acceptance of contractual
conditions by the bidders, cancellation of contracts and re-tendering, site and other issues which were beyond
the control of CCL.

Sd/- Sd/- Sd/-

(Chief Executive Officer or Managing (Chairman CSR Committee) [Person specified under clause (d)
Director or Director) of sub section (1) of section 380
of the Act]

121
 ANNEXURE-A
Details of assets created through Corporate Social Responsibility
amount spent in the Financial Year 2022-23
Sl. Short particulars Pincode Date of Amount of Details of the entity/Authority/beneficiary of the
No. of the property or of the creation CSRamount registered owner
asset(s) propertyor spent
CSR Name Registered address
asset
[including complete Registration
address and location Number, if
of the property] applicable
1 2 3 4 5 6
1 Construction of 825321 30.07.2022 2112339.80 NA Panchayat Kumrang Kala and
02(two) nos. of Solar Kumrang Khurd
Power Operated Deep- village, Chatradistrict
borewell withrecharge
pit

2 Drilling 3 Nos Bore 829101 05.10.2022 1293457.40 NA Panchayat Hasir and Baskundra,
wells along with Solar Chatra District
Pannel and Allied works

3 Sanitary Napkins 829101 13.04.2022 107051.87 NA School Kishan Mazdoor

Vending Machine Management High School, Giddi
Committee C, Argada, Shramik
Uchch Vidyalaya,
Giddi A, Childern
Paradise, Sirka,
Argada, Vivekand
Middle School,
Religara, Argada

4 Provision of integrated 829101 20.06.2022 346439.98 NA School Kishan Mazdoor

desk bench inschools Management High School, Giddi
Committee C, Argada, Shramik
Uchch Vidyalaya,
Giddi A, Childern
Paradise, Sirka,
Argada, Vivekand
Middle School,
Religara, Argada

5 Provision of furniture in 829101 20.06.2022 29489.97 NA School Kishan Mazdoor

schools Management High School, Giddi C,
Committee Argada,
Shramik Uchch
Vidyalaya, Giddi A

6 Construction of 829104 2022-23 1120288.00 NA Ward Member Bokaro

Community hall at
W.D
colony, Sunday Bazar

122
Sl. Short particulars Pincode Date of Amount of Details of the entity/Authority/beneficiary of the
No. of the property or of the creation CSRamount registered owner
asset(s) propertyor spent
CSR Name Registered address
asset
[including complete Registration
address and location Number, if
of the property] applicable
1 2 3 4 5 6
7 Deep Boring with 829114 2022-23 326155.00 NA Panchayat Jaridih West
pipeline connection Panchayat, Bokaro
and
water tank at Ravidas
Tola, Jaridih West
Panchayat

8 Deepboring with Water 829104 2022-23 450199.00 NA School Children Paraise

tank and pipeline Management school, Kurpaniya
for drinking water Committee
supply for students at
Children Paraise school,
Kurpaniya

9 Deepboring near 829104 2022-23 389636.00 NA Panchayat Bokaro District

Konar River,MAA
BANARSO MANDIR.

10 Construction of ghat in 829104 2022-23 257503.00 NA Panchayat Dihwa, Bokaro

the pond of Jaridih
Basti,Dihwa.

11 Construction of Ghat 829104 2022-23 542505.00 NA Panchayat Balubanker,

in the pond at Singarbeda Bokaro
BALUBANKER
SINGARBEDA,DHORI.

12 Installation of 829101 2022-23 145800.00 NA Panchayat Kurpaniya, Bokaro

Multigym for rural
sports
persons, Kurpaniya

13 Construction of 829114 2022-23 92168.00 NA School Saraswati Sishu

handwash unit at Management Mandir,Jaridih
Saraswati Sishu Committee Bazaar,JARIDIHEAST
Mandir,Jaridih PANCHAYAT.
Bazaar,JARIDIH EAST
PANCHAYAT.

14 Construction of 829104 2022-23 323261.00 NA Panchayat BERMO SOUTH

welcome gate and PANCHAYAT, Bokaro
P.C.CRoad from main
road to Samshan
Ghat, BERMO SOUTH
PANCHAYAT.

123
Sl. Short particulars Pincode Date of Amount of Details of the entity/Authority/beneficiary of the
No. of the property or of the creation CSRamount registered owner
asset(s) propertyor spent
CSR Name Registered address
asset
[including complete Registration
address and location Number, if
of the property] applicable
1 2 3 4 5 6
15 Installation of Sanitary 829104 2022-23 96780.00 NA School Bokaro District
pads incinerators for Management
adolescent school Committee
girl's in 10 schoolsof
nearby B&K Area.
16 Distribution of 2 nos 829114 2022-23 808000.00 NA SHG Jaridih Bazar and
of Sanitary vending Baidkaro, Bokaro
machines to each for
the women group of
Jaridih Bazar
and Baidkaro
for employement
generation
17 Provision of 30 nos of 829104 2022-23 179460.00 NA SHG Bokaro District
sewing machines
for rural women for
self employement
generation
18 Construction of 829114 2022-23 308777.00 NA Panchayat Kadmadidh, Bokaro
Shamshan Shed at
Kadmadidh basti
19 Installation of 06 nos 829104 2022-23 247854.00 NA Panchayat Kurpaniya, Bokaro
of Solar Street Light
near Picnic Spot, Bhairo
Mandir, Kurpaniya
20 Construction of 829114 2022-23 246612.00 NA Panchayat JARIDIH WEST
Coverd Stage at PANCHAYAT, Bokaro
SubhashMahto Cricket
Tournament Ground,
JARIDIH BASTI, JARIDIH
WEST PANCHAYAT.
21 Construction of 01 829104 2022-23 233537.00 NA Panchayat Bokaro
number of Sports room
(approx 15*12 ft) at
Sunday Bazar football
ground for equipment
storage and rest room
for sports persons.
22 Construction of 02 829114 2022-23 56697.00 NA School Jaridih Basti, Jaridih
units of toilets at Govt. Management West Panchayat,
Middle school, Jaridih Committee Bokaro
Basti, Jaridih West
Panchayat
23 Construction of Pond in 829104 2022-23 259425.00 NA Panchayat Barai Panchayat,
Barai Panchayat Boakro

124
Sl. Short particulars Pincode Date of Amount of Details of the entity/Authority/beneficiary of the
No. of the property or of the creation CSRamount registered owner
asset(s) propertyor spent
CSR Name Registered address
asset
[including complete Registration
address and location Number, if
of the property] applicable
1 2 3 4 5 6
24 Upgradation of 829104 2022-23 130770.00 NA Skill development Bokaro
Infrastructure of Skill centre,Gandhi
development centre, Nagar
Gandhi Nagar(B&K
Area) by Purchasing 10
nos computer system
with computer table
and chairs for creating
permanent setup for
computer training
under CSR
25 Construction of 829125 08.09.2022 601895.86 NA Mukhiya, Hurumgarah,
Community toilet in Bhurkunda Ramgarh
Hurumgarah under Panchayat,
CSR Scheme of 2021- Ramgarh-829135
22 of Barka-Sayal Area.
26 Poviding 02 nos. hand 829102 03.08.2022 130874.05 NA Ward parshad 24 Barkakana, Ramgarh
pump in CIC basti

27 Installation of 3 no. 829102 03.08.2022 215234.02 NA ward parshad-19 Hehal, Barkakana,

Handpump in Hehal Ramgarh

28 Construction of stairs 829102 26.11.2022 1546610.78 NA School Araya Bal Vidhyalay,

alongwith 04 nos. of Management High School,
rooms at Araya Bal Committee Ramgarh
Vidhyalay, High School.
29 Construction of room 829102 02.09.2022 227388.52 NA School Rajkiya Madhya
over Urinal in Rajkiya Management Vidhyalay, Hehal,
Madhya Vidhyalay, Committee Ramgarh
Hehal
30 Construction of deep 829102 04.07.2022 547423.33 NA Ward Parshad -21 Ghutuwa, Ramgarh
borewell with solar
power operated
summersible Pumpset,
pump house, recharge
pit etc. for drinking
water at Ghutuwa
(ward-21)
31 Construction of deep 829102 04.07.2022 550499.02 NA Ward parshad -19 Chaingada, Ramgarh
borewell with solar
power operated
summersible Pumpset,
pump house, recharge
pit etc. for drinking
water at Chaingada

125
Sl. Short particulars Pincode Date of Amount of Details of the entity/Authority/beneficiary of the
No. of the property or of the creation CSRamount registered owner
asset(s) propertyor spent
CSR Name Registered address
asset
[including complete Registration
address and location Number, if
of the property] applicable
1 2 3 4 5 6
32 Construction of deep 829102 16.03.2023 484476.73 NA ward parshad -20 Ghutuwa, Ramgarh
borewell with solar
power operated
summersible Pumpset,
pump house, recharge
pit etc. for drinking
water at Ghutuwa
(ward-20)
33 Construction of well in 829102 02.09.2022 389892.72 NA Ward Member Chotkakana,
Chotkakana. Ramgarh

34 Construction of one no. 829102 2022-23 381804.12 NA Panchayat Hehal Ramgarh

well in Hehal.

35 Deep Boring at Binod 825102 31.03.2023 267412.00 NA school Binod Bihari School
Bihari School Pichhri management Pichhri, Bokaro

36 Digging of pond at 825102 2022-23 67240.00 NA ward Dhori, Bokaro

pawan singh tand commissioner
Dhori basti
37 Providing desk bench 825102 14.01.2023 1629901.00 NA School Bokaro
to CCL aided school Management
and other educational Committee
institute under CSR.
38 Street light installation 825102 31.03.2023 1997138.00 NA Mukhiya Tarmi & Tarmi and Turio
with pole across turio Panchayat, Bokaro
pahadi road from tarmi
panchyat bhavan to
water tank at Chirudih.
39 Irrigation well(3 no.) at 825102 2022-23 200660.00 NA Panchayat Pichhri, Tarmi and
Dhori Area Gunjardih

40 procurement and 825102 26.02.2023 183600.00 NA Beneficiaries Bokaro

wheelchair and other
aids to divyang
41 Construction and 825102 2022-23 1003154.23 NA Panchayat Pichhri, Bokaro
renovation of Gayatri
peeth at Chapri,Picchri
and communityhall at
pichhri
42 Const Of Community 825301 31.03.2023 10261.00 NA Panchayat, Pindra Pindra, Hazaribagh
Toilet Near Football

126
Sl. Short particulars Pincode Date of Amount of Details of the entity/Authority/beneficiary of the
No. of the property or of the creation CSRamount registered owner
asset(s) propertyor spent
CSR Name Registered address
asset
[including complete Registration
address and location Number, if
of the property] applicable
1 2 3 4 5 6
43 Contribution to 834006 2022-23 1113547.00 NA Vihar Samaj Nagri, Ranchi
Vihar Samaj Kalyan Kalyan Sansthan
Sansthan (VISKASAN) (VISKASAN)
for purchase of
multipurpose vehicle
(Maruti Ertiga Vxi)for
medical emergency
and other operational
works of Adarsh Old
Age Home, Nagri,
Ranchi under CSR of
CCL
44 Financial assistance 835101 2022-23 1744722.00 SRN-T Sneharam Muri, Ranchi
to Sneharam Charitable 85301836 Charitable Trust
Trust for purchase of
1 no. ofhaematology
analyser and 1 no. of
ambulance for Bharat
Mata Hospital, Muri"
45 Installation of Bottle 834003 & 2022-23 962620.94 NA Indian Railway Hatia and Ranchi
Crushing Machine 834001 Railway Station
atHatia and Ranchi
Railway Stations
46 Provision of 1 no. 834002 10.01.2023 767800.00 Sri Aurobindo Doranda, Ranchi
of bore well with Ashram
submersible pump and
construction of road
for school etc at Sri
Aurobindo
Ashram, Doranda,
Ranchi
47 Provision of 50 Electric 827001 22.03.2023 3955178.70 NA District District
Scooters for ANMs Administration, Administration,
in Bokaro District to Bokaro Bokaro
effectively provide
health services in hard
to reach areas in Bokaro
under CSR of CCL
48 Advance for purchase 834006 17.08.2022 299000.00 NA Adarsh Old age Nagri, Ranchi
of kirloskar model home at Nagri
generator set for the
Adarsh Old agehome
at Nagri, Ranchi

127
Sl. Short particulars Pincode Date of Amount of Details of the entity/Authority/beneficiary of the
No. of the property or of the creation CSRamount registered owner
asset(s) propertyor spent
CSR Name Registered address
asset
[including complete Registration
address and location Number, if
of the property] applicable
1 2 3 4 5 6
49 Drilling of 50 nos. 822114 06.03.2023 2846016.00 NA District Garhwa
tubewells and Administration,
installation of Garhwa
handpumps and
soakpits inGarhwa
District
50 Installation of 20 828102 17.03.2023 2076000.00 NA District Palamu
numbers Handpumps Administration,
inPalamu District under Palamu
CSR scheme of CCL
51 Ramgarh Medical 829103 31.03.2023 3750000.00 NA District Ramgarh
Equipments Administration,
Ramgarh
52 Ramgarh Medical 829103 31.03.2023 4710000.00 NA District Ramgarh
Equipments Administration,
Ramgarh
53 Contribution to 829113 25.10.2022 4504075.00 NA Kendriya Bhurkunda, Ramgarh
District Administration Vidyalaya,
Ramgarh for Bhurkunda
Procurement of Land
from Forest Dept.
for construction of
Kendriya Vidyalaya,
Bhurkunda
54 Support PPP models 825101 06.03.2023 875000.00 NA Chitarpur Sewing Chitarpur, Ramgarh
for deployment of Solar Cluster
PV in Chitarpur Sewing
cluster of Ramgarh,
harkhand" for 50
sewingentrepreneurs
belonging to
disadvantagedsections
of the society under
CSR of CCL.
55 Provision of Artificial 825401 14.09.2022 420000.00 NA Beneficiaries Chatra
Appliances to
Divyangjans
56 Provision of 825401 29.03.2023 10512571.24 NA District Chatra
Ambulance to District Administration
Administration Chatra Chatra
57 Provision of 24x7 834001 2022-23 936000.00 NA Hope and Animal Ranchi
Animal Ambulance Trust
and
its operation through
Hope and AnimalTrust

128
Sl. Short particulars Pincode Date of Amount of Details of the entity/Authority/beneficiary of the
No. of the property or of the creation CSRamount registered owner
asset(s) propertyor spent
CSR Name Registered address
asset
[including complete Registration
address and location Number, if
of the property] applicable
1 2 3 4 5 6
58 Treating infected trees 835303 28.02.2023 898600.00 NA Ram Krishna Ranchi
with the help of Tree Dharmarth
Ambulance in Ranchi Foundation
and operationalareas of
CCL through Ayushmati
Education and Social
Society under CSR of
CCL
59 Construction of Deep 829116 12.03.2023 440078.40 NA Mukhia, Siyari Siyari Panchayat,
Bore Wells near Ocho Bokaro
Village,Siyari for
drinking water" under
CSR scheme 21-22 of
CCL, Kathara
area.
60 Construction of deep 829111 30.03.2023 3085910.70 NA Mukhia, Gomia & Gomia & Palihari
borewell with solar PalihariGurudih Gurudih Panchayat,
power operated Bokaro
submersible pump set
,pump house, Recharge
pit etc. for drinking
water in different
locations of Kathara
area under CSR
scheme 21-22 of
CCL, Kathara area
61 Construction of Deep 829107 11.11.2022 560808.43 NA Mukhia, Armo Armo Panchayat,
Bore Wells near Bokaro
Naya Basti" under CSR
scheme 21-22 ofCCL,
Kathara area.
62 Renovation of Pond 829104 10.12.2022 485048.52 NA Mukhia, Bodia Bodia Uttari
near Bodia Basti" Uttari Panchayat, Bokaro
under CSR scheme
21-22 of CCL, Kathara
area.
63 Heightening of 829121 01.11.2022 776125.85 NA Mukhia, Jhirki Jhirki Panchayat,
boundary wall, Barbed Bokaro
wire fencing and
Construction of 2
toiletsin Md Israil Ansari
High School, Jhirkey

129
Sl. Short particulars Pincode Date of Amount of Details of the entity/Authority/beneficiary of the
No. of the property or of the creation CSRamount registered owner
asset(s) propertyor spent
CSR Name Registered address
asset
[including complete Registration
address and location Number, if
of the property] applicable
1 2 3 4 5 6
64 Construction of 4 829111 31.03.2023 2778615.61 NA Mukhia, Hosir Hosir Panchayat,
rooms and stairs in Bokaro
Uccha Vidyalaya,
Hosir" under CSR
scheme 20-21 of CCL,
Kathara area
65 Construction of 829113 15.02.2023 872992.49 NA Mukhia, Jarangdih Uttari,
Community Toilet Jarangdih Uttari Bokaro
near
Jarangdih Market"
under CSR scheme 21-
22 of CCL, Kathara area.
66 Provision of water 829104 09.12.2022 868865.78 NA Mukhia, Bodia Bodia Uttari
supply through Uttari Panchayat, Bokaro
pipeline
in Bodiya Basti" under
CSR scheme 21-22of
CCL, Kathara area.
67 Water Purifier (RO) 829111 31.03.2022 599200.00 NA Gomia Block Gomia and
machine near Block Office & KGBV, Sarhachiya, Bokaro
Office, SDO Office Gomia &
and other prominent Sarhachiya
locations
68 Construction of Well 829111 31.03.2023 620771.99 NA Mukhia, Gomia Gomia Panchayat,
in Padaria Village" Bokaro
under CSR scheme 21-
22 of CCL, Katharaarea
69 Deep boring with 825316 2022-23 169000.00 NA Pundi Mukhiya Pundi Panchayat
submersible pump Ramgarh
andmotor at different
villages near Kuju area
70 Distribution of 829122 2022-23 100000.00 NA Mukhiyas and Ramgarh
E-risckshaw for school teacher
differently
abled peoples of Kuju
71 Solar based deep 829109 2022-23 638000.00 NA School Principal Rabodh Panchayat,
boring facility in Ramgarh
Bhuinya
Tola village of Rabodh
72 Construction of Toilet 829122 2022-23 193000.00 NA School Principal Samujwala shishu
for boys & girls in mandir, Ramgarh
Samujwala shishu
mandir

130
Sl. Short particulars Pincode Date of Amount of Details of the entity/Authority/beneficiary of the
No. of the property or of the creation CSRamount registered owner
asset(s) propertyor spent
CSR Name Registered address
asset
[including complete Registration
address and location Number, if
of the property] applicable
1 2 3 4 5 6
73 Construction of Toilet 829134 2022-23 190000.00 NA School Rajkiye Madhya
& deep boring in Management Vidyalaya Sarubera,
Rajkiye Madhya Committee Ramgarh
Vidyalaya Sarubera
74 Construction of Toilet 829109 2022-23 682000.00 NA Mukhiya Rabodh Rabodh Panchayat,
in shramik Vidyalay, Ramgarh
Topa
75 Construction of 829117 2022-23 244000.00 NA Panchayat Narayanpur village
well in Narayanpur of Karma south,
villageof Karma Barodoharand
south, Barodohar and Barmasiya
Barmasiya
76 Handpump at konka 829210 16.01.2023 74962.87 NA Mukhia Panchayat bhawan,
village near Bhola (Mayapur), Mayapur, Khalari
Ganjhu house Ranchi,
829210
77 handpump near Vinod 829210 16.01.2023 74962.87 NA Mukhia(lapra), Panchayat bhawan,
Bhuiyan house lapra, Khalari Ranchi,
829210
78 handpump at Narayan 829210 14.03.2023 70411.13 NA Mukhia(khalari), Panchayat bhawan,
dhouda village Khalari Ranchi,
829210
79 handpump near 829210 03.01.2023 108674.73 NA Mukhia(tumang), Panchayat bhawan,
santosh ganjhu house tumang, Khalari
Ranchi,
829210
80 Rest shelter at khalari 829210 23.01.2023 290405.80 NA Mukhia(khalari), Panchayat bhawan,
bus stop Khalari Ranchi,
829210
81 Deep boring with solar 829210 22.10.2022 1179056.50 NA Mukhia(Churi E), Panchayat bhawan,
panels at Churi (E) churi E, Khalari
Ranchi,
829210
82 Deep boring with solar 825321 22.10.2022 1198180.73 NA Mukhia (Benti), Panchayat bhawan,
panels at purnadih benti,tandwa
chatra,825321
83 Deep boring with 829210 30.11.2022 834511.06 NA Mukhia(hutap), Panchayat bhawan,
solar panels at near hutap, Khalari Ranchi,
etwa munda 829210
84 Deep boring with solar 829210 30.11.2022 1181408.37 NA Mukhia Panchayat bhawan,
panels at near raju (bishrampur), bishrampur, Khalari
kumar Ranchi,
829210

131
Sl. Short particulars Pincode Date of Amount of Details of the entity/Authority/beneficiary of the
No. of the property or of the creation CSRamount registered owner
asset(s) propertyor spent
CSR Name Registered address
asset
[including complete Registration
address and location Number, if
of the property] applicable
1 2 3 4 5 6
85 Deep boring with 829210 11.05.2022 1196374.35 NA Mukhia Panchayat bhawan,
solar panels at near (bukbuka), bukbuka, Khalari
shobha kashyap Ranchi,
829210

86 Deep boring with 829210 29.12.2022 1199713.02 NA Mukhia Panchayat bhawan,

solar panels at near (bukbuka), bukbuka, Khalari
triveni yadav Ranchi,
829210

87 Deep boring with 829210 25.02.2023 1185988.99 NA Mukhia (churi C), Panchayat bhawan,
solar panels at new churi C, Khalari
munda toli Ranchi,
829210

88 Solar mast lights in 829210 27.09.2022 580357.10 NA Mukhia, Khalari, Ranchi

khalari respective
panchayats

89 Water purifiers for 829210 31.03.2023 1668644.00 NA School Khalari, Ranchi

schools Management
Committee

90 Water purifiers at public 829210 31.03.2023 300355.92 NA School Khalari, Ranchi

places Management
Committee

91 Well near shiv mandir 829210 30.01.2023 378079.53 NA Mukhia(churi C), Panchayat bhawan,
churi C, Khalari
Ranchi,
829210

92 Well at near hutap mod 829210 02.04.2023 400811.08 NA Mukhia(khalari), Panchayat bhawan,
Khalari Ranchi,
829210

93 well at near B-type 829210 21.03.2023 464303.85 NA Mukhia(tumang), Panchayat bhawan,

tumang, Khalari
Ranchi,
829210

94 Well at near bandhan 829210 02.08.2023 329241.58 NA Mukhia(lapra), Panchayat bhawan,

ganjhu lapra, Khalari Ranchi,
829210

95 Repairing and 825321 05.09.2022 369913.41 NA Mukhiya , Kichto Kichto Panchayat,

deepening of Bundu panchayat Chatra
Dahar pond at village
Hafua under CSR
activity 21-22 under
GM unit Piparwar Area.

132
Sl. Short particulars Pincode Date of Amount of Details of the entity/Authority/beneficiary of the
No. of the property or of the creation CSRamount registered owner
asset(s) propertyor spent
CSR Name Registered address
asset
[including complete Registration
address and location Number, if
of the property] applicable
1 2 3 4 5 6
96 Repairing and 825321 05.10.2022 274000.00 NA Mukhiya , Kichto Kichto Panchayat,
deepening of pond panchayat Chatra
inBaghera at Village
Hafua under CSR
activity 21-22 under
GM unit Piparwar Area.
(NIT-5325-39 dated
13.01.2022)

97 Construction of 825401 20.10.2022 1055321.00 NA Panchayat Chiryatand, Chatra

boundary wall
around
sarna asthal at
Chiryatand

98 Construction of 825321 30.09.2022 1298643.26 NA Panchayat Bahera, Chatra

community hall at
vill-Sidalu, Panchayat
Bahera

99 Construction of 825321 20.09.2022 854002.81 NA Panchayat Karo, Chatra

Community hall at
vill-Karo, Panchayat
Bahera

100 3 nos. deep boring 825321 10.05.2022 1705130.22 NA Panchayat Bahera, Chatra
with submersible
pump, vill-bahera,
panchayat Bahera

101 Construction of 825321 22.04.2022 657492.16 NA Mukhiya , kichto Kichto, Chatra

drainage system panchayat
along
both side of the
road of the village
Chiraiyatandh

102 Construction of pond 829201 10.05.2022 856169.19 NA Panchayat karmali Tola of

and its beautification Hemandag of Bachra
in karmali Tola of NorthPanchayat,
Hemandag of Bachra Chatra
North Panchayat

103 Construction of PCC 825321 15.10.2022 7955355.70 NA Panchayat Benti, Chatra

road of Benti village
of Benti Panchayat

104 Providing of water 825321 11.12.2022 40504.23 NA School Bachra North Chatra
filter for Bachra Management
Madhya Vidyalay in vill- Committee
Bachra North

133
Sl. Short particulars Pincode Date of Amount of Details of the entity/Authority/beneficiary of the
No. of the property or of the creation CSRamount registered owner
asset(s) propertyor spent
CSR Name Registered address
asset
[including complete Registration
address and location Number, if
of the property] applicable
1 2 3 4 5 6
105 Providing of water 825321 11.12.2022 40504.23 NA School Bachra Uccha
filter for Bachra Uccha Management Vidyalay (10+2) in
Vidyalay (10+2) in vill- Committee vill-BachraNorth
Bachra North
106 Providing of water 825321 11.12.2022 40504.23 NA School Bachra Bastimadhya
filter for Bachra Management Vidyalay (10+2) in
Bastimadhya Vidyalay Committee vill-Bachra North
(10+2) in vill-Bachra
North
107 Providing of water 825321 11.12.2022 40504.23 NA School Bal bikas Vidyalay in
filter for Bal bikas Management vill-Bachra North
Vidyalay in vill-Bachra Committee
North
108 Providing of water filter 825321 11.12.2022 40504.23 NA School Maulana Azad
for Maulana Azad Management Vidyalay in vill-
Vidyalay in vill-Bachra Committee Bachra North
North
109 Providing of water 825321 11.12.2022 40504.23 NA School Bachra high school
filter for Bachra high Management in vill-Bachra South
school in vill-Bachra Committee
South
110 Providing of water 825401 11.12.2022 40504.23 NA School New Modern English
filter for New Modern Management medium school in
English medium Committee vill- NewMangardaha
school in vill- New
Mangardaha
111 Digging of well in the 825401 05.10.2022 969109.70 NA Panchayat Devi Mandap at
campus of Devi Chiryatandh
Mandap at Chiryatandh
112 Providing 02 nos. 825401 01.10.2022 140450.00 NA Vatsalya Dham Vatsalya
Computer and 01 nos. Dham(Orphanage
LED TV 54" at Vatsalya Cum Children Home),
Dham(Orphanage Cum Chattar Mandu,
Children Home) Ramgarh
113 Distribution of Trycycle 825101 01.09.2022 15107.72 NA Beneficiaries Ramgarh
to differentlyabled
person of Rajrappa
Command Area
114 Providing Murhi(Puff 829110 15.04.2023 190700.00 NA SHG Rajrappa, Ramgarh
Rice) making
machine, branding and
packaging material
to Self Help Group of
Single Women

134
Sl. Short particulars Pincode Date of Amount of Details of the entity/Authority/beneficiary of the
No. of the property or of the creation CSRamount registered owner
asset(s) propertyor spent
CSR Name Registered address
asset
[including complete Registration
address and location Number, if
of the property] applicable
1 2 3 4 5 6
115 Providing 829110 15.04.2023 299140.00 NA SHG Rajrappa, Ramgarh
Spices(Masala) making
machine,
branding and
packaging material to
SelfHelp Group

116 Setting Up of Gym at 829110 2022-23 498315.00 NA Panchayat Rajrappa, Ramgarh

Command Area
Panchayat

117 Setting up of Fixed 829110 2022-23 350000.00 NA Rajrappa Temple Rajrappa, Ramgarh
Type 18 m height high Committee
mast light at Rajrappa
Temple

118 Providing of Artificial 829110 10.04.2023 455475.00 NA Beneficiaries Rajrappa, Ramgarh

Limb to a Differently
abled child and
adolescent in
commandarea

135
 Annexure –XI

FORM NO. AOC – 2

(PURSUANT TO CLAUSE (H) OF SUB-SECTION (3) OF SECTION 134 OF THE ACT AND
RULE 8 (2) OF THE COMPANIES (ACCOUNTS) RULES, 2014)

Form for disclosure of particulars of contracts/arrangements entered into by the company with related parties
referred to in sub-section (1) of section 188 of the Companies Act, 2013 including certain arms length transactions
under third proviso there to.
All the transactions entered by CCL during the financial year 2022-23 with related parties were on arm’s length basis.

136
 Annexure – XII
REPORT ON THE PERFORMANCE AND FINANCIAL POSITION OF EACH OF THE SUBSIDIARIES,
ASSOCIATES & JOINT VENTURE COMPANIES FOR FY 2022-23
[Pursuant to Section 134(3)(q) of the Companies Act, 2013 read with Rule 8(1)
of the Companies (Accounts) Rules, 2014]
Jharkhand Central Railway Limited is a Joint Venture Company between Central Coalfields Limited, IRCON International
Limited and Govt. of Jharkhand. The company was formed under Companies Act 2013.
Name of Promoter entitles Share Holding Pattern
Central Coalfields Limited 64%
M/s IRCON International Limited 26%
Govt. of Jharkhand 10%
The authorized share capital of the company is 500.00 Crores.
The performance of JCRL is as under :
1. Jharkhand Central Railway Limited was incorporated on 31.08.2015. Subsequently the following project was
assigned to be taken up by JCRL.
• Shivpur – Kathautia new BG Electrified Rail Line Project – 49.085 Km (1799.64 Cr).
JCRL has signed a project execution agreement with IRCON on 28th March 2016. Railway Board has granted
in principle approval for transfer of Shivpur-Kathautia New Line Project to be taken up through the joint
venture JCRL. The total length from Kathautia (Chainage 0.00) to Shivpur (Chainage 49.085) is 49.085 Kms.
Detail Project Report (DPR) has been approved by the Ministry of Railways. An inflated mileage of 60% on a
chargeable distance of 49.085 kms has been approved on 13th June 2018 by the Ministry of Railways for a
period of 5 years.
Concession Agreement between JCRL & E.C. Railway has been signed on 04-12-2018. Stage-I forest clearance
has been communicated by MoEFCC on 19th June 2019. Process of diversion of forest land is in advance stage
and the amount toward CA, NPV and wildlife plan has been deposited by JCRL to the State Govt. Working
permission from Forest Deptt. received in Sept’ 2021. All Govt. and Private land has been handed over to JCRL.
The work has been planned to be executed through 10 packages. Six packages have been awarded till date
and Progress of work at site are as enumerated below:
PACKAGE – I

SI Activity Unit Scope Completed Balance Physical % Remarks

NO Complete
1 Earthwork in Lakh Cum 35.00 32.18 2.82 91.94 Work is in
Filling progress.
2 Earthwork in Lakh Cum 10.37 9.16 1.21 88.33 Work is in
Cutting progress.
3 Blanketing Lakh Cum 37,402.25 - 37,402.25 - Work is in
progress.
4 RUBs/LHS Nos 08 03 05 37.50 Work is in
progress.
5 Minor Bridge Nos 10 08 02 80.00 Work is in
progress.
6 Wild Life Nos 02 0 02 0 Work is in
Overview progress.

137
PACKAGE – II
Activity Unit Scope Completed Balance Physical % Remarks
Complete
1 Earthwork in Lakh Cum 16.23 1.13 15.10 6.96 Work is in
Filling progress.
2 Earthwork in Lakh Cum 17.15 0.10 17.50 0.58 Work is in
Cutting progress.
3 Blanketing Lakh Cum 41,585.750 0 41,585.750 0
4 RUBs/LHS Nos 10 0 10 0
5 Minor Bridge Nos 28 0 28 0

6 WildLife Nos 04 0 04 0
Overview

PACKAGE – III

Sl
Activity Unit Scope Completed Balance Physical % Complete
No.
1 Earthwork in Filling Lakh Cum 34.70 0 34.70 0

2 Earthwork in Cutting Lakh Cum 17.99 0 17.99 0

3 Blanketing Lakh Cum 10,200.00 0 10,200.00 0

4 RUBs/LHS Nos 02 0 02 0

5 Minor Bridge Nos 06 0 06 0

6 Wild Life Overview Nos 01 0 01 0

PACKAGE – IV
Sl Activity Unit Scope Completed Balance Physical Remarks
No. %
Complete
1 Earthwork in Lakh Cum 49.50 8.11 41.30 17 Work is in progress.
Filling
2 Earthwork in Lakh Cum 0 0 0 -
Cutting
3 Blanketing Lakh Cum 18,519.00 0 18,519.00 0

4 RUBs/LHS Nos 05 0 05 0
5 Minor Bridge Nos 04 0 04 0 Work is in progress
on three bridges

6 Wild Life Nos 0 0 0 -

Overview

138
PACKAGE – V
Sl
Activity Status of Drawing Physical Progress at Site Remarks
No.
1 Major Bridge No. Approved Work is in progress. Raft o Reinforcement binding is in
13 (1x30.5 m) foundation for A1 & A2 progress at A1
Composite girder completed. Casting of first
o Only one team for bar
lift in A2 is completed
bending is available at site
o Reinforcement bars are kept
on the ground.
o Labours are not using PPE Kits.
2 Major Bridge No. Approved o Work is in progress o Steel not available at site.
17 (4x30.5 m) o PCC in A1 Completed o Curing is not been done
Composite girder
o Excavation in foundation properly on PCC
is in progress at A2, about
1.5 m balance
3 Major Bridge No. Approved o Work is in progress o Only one setup is available
20 (2x30.5 m) o Reinforcement binding is for pilling, which was under
Composite girder in progress at A2. breakdown at the time of
inspection. One more setup
o Pilling work is in
needs to be developed.
progress, so far 17 piles
are driven out of total 44 o Concreting work is held up
to be driven for A1 & P1 due to breakdown of batching
plant
4 Major Bridge No. Approved No activity has been taken Only one setup for pilling is
23 (3x30.5 m) up at this site available with the agency, due to
Composite girder which the work at this bridge has
not been taken up.
5 Road Over Approved Work has not been taken up
Bridges (06 Nos.) at any of the bridge
(Br. No. 1,6,8,9,69,
& 70)

PACKAGE – VI
Sl Status of
Activity Physical Progress at Site Remarks
No. Drawing
1 Major Bridge No. 91 Approved o Work is in progress. o The road should be
(1x30.5 m) Open web diverted at the earliest
o A1 completed.
girder
o A2 should be completed
o Work at A2 could not be taken
on priority.
up as a road is passing though
this location and needs to be
diverted.
o The girder required is being
got fabricated by an RDSO
approved firm at Hissar.

139
 Sl Status of
Activity Physical Progress at Site Remarks
No. Drawing
2 Major Bridge No. 106 Approved o Work is in progress o Curing is not been done
(2x30.5 m) Composite o Reinforcement binding is in properly.
girder progress at A1. o The work has to be
o Excavation in foundation is in completed on priority
progress at A2,
o Casting work at pier completed
upto 12 m height out of total
height of 25 m.
3 Major Bridge No. 103 Drawing for Casting up to pile cap for P1 & P3 Drawings are to be got
(4x30.5 m) Composite A1 & A2 to completed approved on priority and
girder be approved the work has to be taken up
immediately
4 Major Bridge No. 79 Approved o A1 & P2 are so open o Pilling work should be
(2x30.5 m) Composite foundation. taken up for A2
girder o Reinforcement binding in A1 o Curing should be done
for abutment cap is in progress. regularly
o Casting is in progress on P1.
5 Major Bridge No. 76 Approved o Work is in progress. o Work needs to be
(1×30.5 m) Composite o Three piles have been driven expedited
girder out of total 40 piles.
6 Road Over Bridges (06 Not Work has not been taken up at any
Nos.) (Br. No. 1,6,8,9,69, & Approved of the bridge
70)

2. Project Financing:
          The estimated project cost of JCRL as per approved DPR is Rs. 1799.64 Crore wherein the proposed fund arrangement
is in the ratio of 30:70 between equity and Debt as per the terms of MoU signed between the respective Ministries
and Government of Jharkhand. The contribution towards 70% of debt comes to Rs. 1260 Crore.
           As per Clause 10 of MOU signed between Central Coalfield Limited, M/s Ircon International Ltd. and Govt of
Jharkhand”The construction work of the railway line under this MOU shall be undertaken only after process of land
acquisition and environmental /forest clearance have been completed and financial closure has been achieved.
Further the construction work in any corridor may be taken up in phases if the survey and alignment .”
            The major milestone in terms of Financial Closure of the Company for debt fund of Rs.1260 Cr. was achieved on
05.05.2022 wherein the first disbursement of Rs.125.12 Cr was received on 31.03.2023.
SL NAME OF BANK TERM LOAN FACILITY PRICING PROPOSED LIMITS FOR
NO SANCTIONED FINANCIAL CLOSURE
[Rs. in Crs] [ Rs. in Crs]

1 Punjab National Bank 500.00 7.75% per annum plus 420.00

[Lead Bank] 0.20% upfront fee
2 Central Bank of India 500.00 7.75% per annum plus 400.00
0.20% upfront fee
3 Bank of Maharashtra 300.00 7.75% per annum plus 240.00
0.20% upfront fee
4 UCO Bank 250.00 7.75% per annum plus 200.00
0.20% upfront fee
TOTAL 1550.00 1260.00

140
3. Land Acquistion status:

Type of Requisitioned Acquired/Handed Yet to be acquired/

Remarks
Land (Ha) over (Ha) handed over (Ha)

Working permission was issued by the

forest Deptt on dated 14.09.2021 for
285.27 Ha of forest land for one year
which has been extended for anoth-
Forest 368.72 285.27 83.45 Ha of GMJJ Land er one year on 21.10.2022 i.e upto
20.10.2023 .
Working permission in balance 83.45
Ha of GMJJ land is yet to be received
by Revenue department, GoJ.

Govt/GM 20.34 20.34 0 All Govt Land Transferred to Railways.

Private 151.00 151.00 0

Total 540.06 443.818 83.45

4.   Financial Position:.
During the year 2022-23, the Authorized Capital of the company was Rs. 500.0 Crores.

As at 31st March, 2023 As on 31st March 2022

Name of No.of Shares Held (Face % of Total No.of Shares Held (Face
Shareholder value of Rs. Shares value of Rs. % of Total
10 each) 10 each) Shares

Central Coalfields 6,46,31,232 64.00 6,46,31,232 73.67

Limited

IRCON IInternational 2,62,56,438 26.00 1,30,00,000 14.82

Ltd.

Govt. of Jharkhand 1,00,98,630 10.00 1,00,98,630 11.51

TOTAL 10,09,86,300 100.00 8,77,29,862 100.00

A. During the year under review, the Government of Jharkhand deposited Rs.13.50 Crore as Interest Free Loan to JCRL
on 29.06.2022.
B. During the year under review RCON International Limited has deposited Rs.64.11 crore as Interest free loan to JCRL
on 01.08.2022 .
C. During the year under review the Paid Up and Subscribed share capital of the company has been enhanced from
Rs.87.72 Lakh to Rs.100.98 Lakh by way of Private Placement of 13256438 number shares at Rs.10/- each to M/s
Ircon International Ltd. amount to Rs13,25,64,380.

141
2. Summarized Balance Sheet :

As at 31.03.2023 As at 31.03.2022
Particulars
(in Lakh Rs.) (in Lakh Rs.)
Equity and Liabilities
Equity Share Capital 10,098.63 8,772.99
Instruments entirely equity in nature 43,351.36 35,589.96
Others Equity 1,054.74 514.39
Equity attributable to equity Holders of Company 54,504.73 44,877.34
Non-Controlling Interest — —
Total Equity (A) 54,504.73 44,877.34
Non-current Liabilities
a. Financial Liabilities
i. Borrowings 12,512.00 —
ii. Trade Payable — —
iii. Other Financial Liabilities — —
b. Provisions — —
c. Other Non-Current Liabilities 0.83 —
Sub-Total Non-Current Liabilities (B) 12,512.83 —
Current Liabilities
a. Financial Liabilities
i. Borrowings 2.96 —
ii. Trade Payable
Total outstanding dues of micro and Small enterprises — —
Total outstanding dues of creditors other than micro and small enterprises 1.07 239.15
iii. Other Financial Liabilities 37.98 6.25
b. Other Current Liabilities 66.70 4.79
Provisions — —
Current Tax Liabilities(Net) — 20.29
Sub-total-Current Liabilities(C) 108.71 270.48
TOTAL-EQUITY AND LIABILITIES (A+B+C) 67,126.27 45,147.82

Assets
Non-Current Assets
a. Property, Pant and equipment 13.02 2.55
b. Capital Work in Progress 42,953.64 26,090.19
c. Exploration and evaluation assets — —
d. Intangible assets 0.40 —
e. Intangible assets under development — —

142
 f. Investment Property — —
g. Financial Assets 5399
h. Deferred Tax Assets (Net) — 0.10
i. Other Non-current Assets 2849.97 613.49
Sub-Total Non-Current Assets 51216.03 26,706.33
Current Assets
Financial Assets 13257.28 18,383.34
Inventories — —
Other Current Assets 2630.18 58.15
Current Tax Assets (Net) 22.78 —
Sub-Total Current Assets 15,910.24 18,441.49
TOTAL ASSETS 67,126.27 45,147.82
3. During the year ended 31.03.2023, the Capital Structure stands as under:
Issued, Subscribed & Paid up Share Capital

Shareholders No. of Shares Rate Amount in Rs.

CCL 6,46,31,232 Rs. 10/- each 64,63,12,320/-

IRCON 2,62,56,438 Rs. 10/- each 26,25,64,380/-

Govt. of Jharkhand 1,00,98,630 Rs. 10/- each 10,09,86,300/-

Total Paid up Equity Share 1,00,98,63,000/-

Capital

1. During the year ended 31.03.2023, JCRL earned Net profit amounting to Rs. 540.35 Lakhs against Net Profit of
201.75 Lakhs earned in the year ended 31.03.2022.

143
 Annexure – XIII
Management Discussion & Analysis Report

OVERVIEW amidst persistent inflation and rising interest rates, India's

The objective of this report is to convey the Management’s economy continued to grow, posting the strongest
perspective on the external environment and Coal Sector growth amongst developing nations. India came across
and CCL as a subsidiary of Coal India Limited (CIL), as well as a bright spot posting a GDP growth of 6.8% (Source:
as strategy, operating and financial performance, material IMF World Economic Outlook Projections, April 2023)
developments, risks and opportunities and internal in FY23, driven by domestic led growth. Power demand
control systems etc. in the Company during FY2022-23. being closely associated with GDP, also followed the
This should be read in conjunction with the Company’s growth path, rising by ~10% (132 BU’s) in FY23. The revival
of economic activities coupled with an intense heat wave
financial statements, the schedules and notes thereto
witnessed in Q1 FY23, led to a sudden surge in power
and other information included elsewhere in this Annual
demand. Peak demand touched a record high of 216 GW
Report and Annual Accounts 2022-23. The Company’s
in the month of April, 2022, and supply was stressed with
financial statements have been prepared in accordance
this sharp rise in demand. The power crisis that brought to
with Indian Accounting Standards ('Ind AS') complying
the fore the dependency on thermal power, saw renewed
with the requirements of the Companies Act, 2013, as
interest of players in thermal assets. Several PSUs and
amended from time to time. private players alike went into acquiring stressed thermal
assets.
GLOBAL ECONOMY
A. INDUSTRY STRUCTURE AND DEVELOPMENT
Global GDP growth is estimated to fall from 3.4% in 2022
i) Coal- Primary source of Energy:
to 2.8% in 2023. The continuing Russia-Ukraine war along
with central banks hiking rates to tame inflation continues Coal remains the predominant indigenous energy source
to weigh on economic activity. Repercussions of the in the country. The energy security of the country and its
conflict were also visible in disrupted trade relations and prosperity are integrally linked to efficient and effective
spiralling energy prices resulting in severe global energy use of this abundant, affordable and dependent fuel, coal.
crunch leading to significant diversion from the otherwise The dependability on coal may be gauged by the fact
chartered growth paths. While the ramifications were that about 55% of India's installed power capacity is coal-
evident all over the world, Europe was hit the hardest. As based. CIL produces around 80% of India's overall coal
Europe braved an unprecedented energy crisis, people production in India and it alone meets to the tune of 40%
worldwide realised the importance of self-reliance for of primary commercial energy requirement. As India aims
energy and consequentially, countries advanced their to increase its power generation capacity in the coming
climate goals. years, a significant portion of the capacity is expected
to come from coal itself. As per Draft NITI Aayog Report
However, there is a positive development on the horizon (Nov'21) on "Coal Demand in India - 2030 and beyond",
that is cause for optimism. It is anticipated that the demand for coal in electricity generation in India will
deceleration of global economic growth will begin to remain and gain an increasing trend in absolute term in
rise in 2024, signalling a gradual recovery. The April the near future. In percentage terms, the share of coal in
2023 edition of the World Economic Outlook by the energy mix is likely to reduce from current levels of 72%
International Monetary Fund (IMF) forecasts a decline in to 52% by 2030, 43% by 2035 and to 34% by 2040 due
growth rates from 3.4 percent in 2022 to 2.8% in 2023, to high penetration of renewable in total energy mix. In
followed by a stabilisation at 3.0% in 2024. terms of availability, coal is the most abundant fossil fuel
available in India. The geological resources of coal in India
Indian Economy
are in excess of 362 Billion Tonnes (as on 01.04.22). At the
In the year 2022, when countries across the globe were current rate of production, the reserves are adequate to
struggling to keep up their economic growth trajectory meet the demand.

144
Government of India envisages to provide access to clean, Ø 15 Projects identified with a Capacity of about 160
cheap and sustainable electricity to the entire population MTPA (Million Tonnes per Annum) to be operated by
of the nation. Though the proportion of non-coal sources, Mine Developer cum Operator mode.
particularly renewables, has increased over the last few Ø Capacity addition through special dispensation
years, yet coal shall remain the dominant fuel source in Environment Clearance under clause 7(ii) of
for electricity generation in India in near future as well. Environmental Impact Assessment (EIA) 2006
Today, India is the 2nd largest producer of coal in the
Ø CIL has taken steps to upgrade the mechanized coal
world producing about 893.08 Million tonne (Mt) of coal
transportation and loading system under 'First Mile
in 2022-23. The coal sector in India is dominated by state
Connectivity' projects.
producers including Coal India Limited and Singareni
ii) CENTRAL COALFIELDS LIMITED AS A SUBSIDIARY
Collieries Company Limited. Coal India Limited (CIL), with
OF COAL INDIA LIMITED.
its seven wholly-owned coal producing subsidiaries and
one mine planning and Consultancy Company, is the Geological Coal Reserve in CIL Blocks of CCL Command

single largest coal producing company in the world, with Area as on 01.04.2022

a total production of about 703.21 MT during the fiscal (in Million Tonnes)
2022-23 which is about 78% of the total coal produced Proved Indicated Inferred Total
in the country. Total Coal
Reserve 17325.25 4991.95 390.82 22708.02
Coal India Limited (CIL) and its subsidiaries accounted for
703.21 MT during 2022-23 as compared to a production of Out of 361.411 Billion Tonnes of geological resources of
622.63 MT 2021-22 showing a positive growth of 12.94 %. coal estimated in India, CIL Blocks of CCL Command Area has
Coal being the most abundant fossil fuel in India till date, 22.708 BT as on 01.04.2022, which accounts for 6.28% of
it continues as one of the most important sources for total Reserve in India.
meeting the domestic energy needs and will continues iii) Coal Demand:
to be the mainstay of its future energy supply. It provides Coal Demand of CCL in 2023-24 is indicated below.
most vital input for accelerating the growth of Indian
Sector wise break-up are as under:
economy. 40% of India’s total Energy needs is met by
(in Million Tonnes)
Coal. India is the second-largest coal producer and ranks
fourth in terms of coal reserves in the world, emphasizing Sector 2023-24
the country’s capacity to provide adequate coal and As per
Steel (Coking)
address its needs for industrial development. The growth Agreement
of the country’s coal mining business is driven by the Power (U) 99.63
Government’s decision to eliminate substitutable coal Power(Captive) 1.77
imports by 2023-24 .Moreover, the demand for coal in the
Fertilizer 0.21
country is expected to be in the range of 1.3-1.5 billion
tonnes by 2030, despite the push for renewable energy. Cement 0.10

Coal India Limited (CIL) has envisaged a coal production Steel CPP & CPSUs 1.42
programme of one Billion Tonne from CIL mines by 2025- Others 2.95
26. CIL has taken the following steps to achieve the target
Total 106.08
of augmentation of coal production capacity.

145
iv) Coal despatch

Geological Coal Reserve in CIL Blocks of CCL Command Area as on 01.04.2022:

(Fig in MT)

2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23

Sector Actual Actual Actual Actual Actual Actual Actual

Power 45.55 49.589 52.378 53.134 52.896 59.17 64.56

Steel
(Incl. Steel CPP) 2.639 2.027 1.600 1.961 1.236 1.477 1.76

Fertilizers 0.221 0.148 0.087 0.143 0.13 0.115 0.11

Others* 12.165 17.080 14.611 12.883 11.006 11.28 9.06
Total 60.575 68.844 68.677 68.121 65.268 72.04 75.49

* Others include e-auction, erstwhile Non Core Consumers, Sponge Iron and State Agencies.

v) Coal Availability
The actual coal production for 2022-23, Budgeted production for 2023-24 as per Proposed AAP from existing mines,
completed projects, on-going projects and future projects of CCL is given below:
(Fig in MT)

2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24

Group
Actual Actual Actual Actual Actual Actual (AAP)
Existing Mines 0.302 0.367 0.4789 0.18 0.146 0.13 0.10

Completed Projects 40.450 42.107 36.0946 31.89 11.269 13.42 15.85

On-going Projects 22.653 26.247 30.315 30.52 57.436 62.54 68.05

Future Projects - - - - - 0 0

Total 63.405 68.72 66.889 62.59 68.850 76.09 84.00

*Note : Group wise production may change whenever any project shift from ongoing tocompleted & from future
to ongoing.

vi) Productivity:
The OMS position of CCL is as below:
(Fig in MT)

2022-23
2016-17 2017-18 2018-19 2019-20 2020-21 2021-22
Actual
Actual Actual Actual Actual Actual Actual

UG 0.294 0.194 0.214 0.54 0.44 1.17 2.13

OC 9.808 9.372 9.740 10.06 9.57 10.16 10.68

OVERALL 7.235 7.195 8.093 8.49 8.39 9.37 10.22

146
vii) STRENGTH AND WEAKNESSES, OPPORTUNITIES AND THREATS (SWOT ANALYSIS)

Strength Weaknesses

 High coal reserves with huge production potential.  Most of the newly explored coal blocks
The coal reserves include non-coking coal (used in are under forest cover, which will require
power plants) as well as coking coal (used in steel statutory clearances like FC, FRA, and Wild
plants.
Life etc. These clearances are obtained
 Infrastructure available in almost all Coal Blocks: All
through cumbersome processes and are
coalfields of CCL have a reasonably good rail & road
network and thus planning & implementation of time consuming.
projects become easier with smooth transportation
of man and machineries as well. This rail & road  The command area of CCL has high popula-
network further enables swift movement of Coal to tion density and therefore requires substan-
the consumers. tial R&R activities causing delay in start of
 Skilled and diversified Manpower with experience projects.
available in sufficient numbers: CCL has been in
 Possession of land is quite difficult in CCL
the business of coal mining for over 45 years. Its
manpower strength as on 31.03.2023 is 34975, due to variety of issues such as presence
which comprises of skilled HEMM operators and of GM JJ land, Form-H issues, CS/RS issues,
manpower in different discipline and trades, who are doubtful ownership issues, overlapping is-
well conversant with their jobs. sues etc. All these aspects causes delay in
 Application of information technology: Owing to start of projects.
the remoteness of mining areas, implementation
and operation of IT initiatives was a challenge in  Difficult geo-mining conditions such as old
early days specifically in view of absence of reliable workings, fire and subsidence, highly dip-
network infrastructure. However, over the period ping deposits, multiple seams etc.
of last 10 years, several breakthrough initiatives
 Relatively Inferior coal quality as compared
have been taken and all Areas as on 31.03.2023 are
covered under Mobile connectivity and centralized to other countries due to drift formation na-
Internet Leased Line services. Besides, the company ture of India.
has its own WAN (Wide Area Network) sourced  Constantly increasing demand for salary
through two major reputed service providers thereby
hike by employees will further overload the
ensuring redundancy in connectivity. Additionally
structured LAN (Local Area Network) for all users has cost components, structure and profitability
been established for harnessing benefits of ERP and may get minimized.
e-office, which enables faster sharing of information
and data-based decision-making process
 Very low employee attrition rate: The salary and
wages offered to the employees in CCL are the best
in the Coal Mining Industry. This has resulted in a
very low attrition of employees. The performance
related pay introduced since FY 2007-08 for
executives and wage revision for non-executives has
further boosted the morale of employees.
 Strong and consistent track record of growth and
financial performance.

147
 The demand for coal is rising day by day by strong  Pressure of international body like UN to
economic growth in India and it is expected that the comply Paris Agreement & COP26 at Glas-
demand-supply gap of coal is likely to increase in fu- gow on climate change to curb use of fossil
ture and thus the market opportunities are going to fuel (Net Zero by 2070).
increase and expand day by day.
 Rapid world-wide research in energy field
 Outsourcing of production processes: CCL can also may result in evolution of disruptive tech-
resort to outsourcing of OBR removal and coal nologies such as Hydrogen fuel, nuclear
production, wherein the departmental capacity is fusion, geo-thermal energy etc. as cheaper
already utilized or deployment of departmental and green energy sources resulting in fall in
equipment is not economical. Even marginal depos- coal demand at faster clip.
its and thin seam operations can be done through
 Renewable Energy: The fast expansion of
outsourcing, at much cheaper cost than that by de-
renewable energy resources (Solar, Hydel
partmental resources.
Wind etc.) is a threat to the mining industry.
 Opportunities for value addition of its products
 Captive mining in coal is now permitted in
through sizing, washing or conversion to Liquid and
India, also coal blocks are allotted to many
Gas: The price of washed coking coal is 3-4 times of
private players which may result in lowering
raw Coking Coal. Different washeries of the compa-
of demand in the coming times.
ny operate upon this to take advantage of the price
differential beyond the available capacity of the pro-  Upcoming private players may tend to hire
jects. the highly skilled employees of the compa-
ny through better Pay, Perks and other facil-
 Wide Scope for promoting alternative usage of coal
ities
with relatively lesser carbon footprint through adop-
tion of coal to liquid and coal to gas technologies
 Since rapidly evolving renewable energy is men-
tioned as one of the threats for coal sector, it may not
be proper to mention the same (diversification into
solar) as an opportunity. Instead, the sentence may
be re-written as - 'CCL has vast areas of reclaimed
land that can be used for various business purposes
such as eco-parks, tourism, industrial/business hubs,
pumped hydro, solar power (for achieving net zero
target) etc.'

148
B. PERFORMANCE
The Production and Productivity figures achieved by your Company during the year 2022-23 as compared to the
actual of 2021-22 is as under:

% Growth over last

2022-23 2021-22
Particulars year

Target Actual Actual

PRODUCTION
From OC (MT) 75.130 75.224 68.091 10.477
From UG (MT) 0.870 0.863 0.755 14.240
TOTAL (MT) 76.000 76.087 68.846 10.518
OBR (MM3) 126.000 106.581 100.066 6.511
Washed Coal (Coking)
Production (MT) 0.965 0.722 0.400 80.386
Dispatch (MT) 0.965 0.709 0.528 34.281
Washed Coal (Non-Coking)
Production (MT) 5.700 3.665 4.267 -14.113
Dispatch (MT) 5.700 3.691 4.213 -12.398
Washed Coal Power(Coking)
Producation(MT) 1.377 0.732 0.625 17.150
Dispatch(MT) 1.377 0.798 0.755 5.721
Productivity (OMS-Te)
OC 11.72 10.68 10.16
UG 0.84 2.13 1.17
OVERALL 10.20 10.22 9.37

The total Offtake of Raw Coal during 2022-23 was 75.02 Million Tones. The mode-wise details of off-take compared to
that of last year is as under:

(Figs. in Million Tonnes)

Mode 2022-23 2021-22 Growth over last year

Rail 43.92 48.92 -10.22%

Road 25.75 17.38 48.16%
Feed to Washery 5.36 5.51 -2.72%
Total Offtake 75.03 71.81 4.48%

Reasons of less raw coal feed/ consumption in different washeries (Coking+ Non coking)
All the figures in lakh tonnes

149
Washery 2021-22 2022-23 Reason
Coking Raw Coal Raw Coal Raw Coal Raw Coal
Received Consumed Received Consumed

Kathara, 3.67 5.32 4.58 2.91 The Washery was commissioned in 1969 and is 54 years
(3.0MTY) old. Production was stopped from end of June’22 to last
week of Nov’22 due to non availability of CTO of linked
mine Kathara OCP. Now after grant of CTO, Production
has picked up and expected to meet the target in F.Y.
2023-24.

Sawang, 1.93 1.93 2.12 2.01 The Washery was commissioned in 1970 and is 53 years
(0.75MTY) old. Production was affected due to non availability of
CTO of linked mineKathara OCP. Now after grant of
CTO, Production has picked up and expected to meet
the target in F.Y. 2023-24.

Rajrappa, 8.82 0.00 4.62 2.33 The washery was commissioned in 1987 and is 36 years
(3.0 MTY) old. Operation of Rajrappa Washery was stopped from
Feb’21 due to quality concerns raised by steel sector
against Washed coal. Major Renovation Work has
been carried out replacing both the Jigs and revival of
cyclone circuit & thickener. Plant is operating from 12th
August 2022 on trial run and subsequently on PGT.
Teething problems are being removed.

Kedla, 4.68 4.87 9.36 9.32 The Washery was commissioned in 1997 is 26 Years old.
(2.6 MTY) Kedla has achieved exceptional growth in raw coal feed
& Washed coal production with respect to last year
for the same period. However, raw coal supply to the
washery is less than the target feed.

Total 19.10 12.12 20.71 16.584 Overall consumption is less as all the washeries have
outlived/crossed their technological life (i.e. 18 years)
and average age of washeries in CCL is approx 45 years.

150
 Non Raw Coal Raw Coal Raw Coal Raw Coal
Coking Received Consumed Received Consumed
Piparwar, 44.0 43.01 36.18 37.01 The Washery was commissioned in 1997 and Washery
(6.5 is 26 Years old. Less supply of raw coal in FY 2022-23.
MTY) In FY 2021-22, consumption was less due to Power
sector being reluctant to take Washed power coal after
the Gazette notification of MoEF dated 21.05.2020 for
relaxation in transportation of coal beyond 34% ash
with distance beyond 500kms.
Total 44.0 43.01 36.18 37.01

C. OUTLOOK observations of the CAG are replied on regular basis. The

Coal India is striving to achieve 780 MT of coal production observations are well taken care of for taking remedial
in 2023-24, in which Central Coalfields Limited will measures whenever considered necessary.
contribute 84 MT of Coal. Major projects of the company
such as Magadh EPR OCP (51 MTY), Amrapali EPR OCP E. DISCUSSION ON FINANCIAL PERFORMANCE
(25 MTY), Ashok EPR OCP (20 MTY), Sanghamitra OCP WITH RESPECT TO OPERATIONALPERFORMANCE
(20 MTY), Chandragupta OCP (15 MTY), Karo EPR OCP
(11 MTY), Rohini Karkata OCP (10 MTY), Konar EPR OCP Covered in the main report.
(8MTY), North Urimari OCP (7.5 MTY), Pundi RO OCP (5
MTY) and Kotre Basantpur Pachmo OCP (5 MTY) are also
F. MATERIAL DEVELOPMENT IN HUMAN
expected to contribute significantly in near future.
RESOURCES/INDUSTRIAL RELATIONS FRONT,
INCLUDING NUMBER OF PEOPLE EMPLOYED
D. INTERNAL CONTROL SYSTEMS AND THEIR
ADEQUACY Covered in the main report.
The company has well established internal control G. ENVIRONMENTAL PROTECTION AND CONSERVATION,
systems and procedures commensurate with its size TECHNOLOGICAL CONSERVATION, RENEWABLE
and nature of business. A system of "Transaction audit" ENERGY DEVELOPMENTS, FOREIGN EXCHANGE
by outside Audit Firms of Chartered/Cost Accountants is CONSERVATION
in operation throughout the year in the direction of full
filling the statutory requirement as well as internal control Covered in the main report.
system. There is a well-defined scope, formulated and H. CORPORATE SOCIAL RESPONSIBILITY
regulated by CIL, covering all the facets of the operationof
Covered in the main report.
the organization for internal audit jobs.

For achieving the objective of strengthening the internal I. GOING CONCERN

financial control and also for meeting the statutory The Going Concern assumption is a fundamental principle
provision, physical verification of stores/spares is in the preparation of financial statements. Under the
conducted by the outside audit firms on annual basis. going concern assumption, an entity is ordinarily viewed
The inspection reports of CAG form part of our measures as continuing in business for the foreseeable future with
for strengthening the internal control system. The neither the intention nor the necessity of liquidation,

151
ceasing trading or seeking protection from creditors Based on historical financial results and current economic
pursuant to laws or regulations. and market conditions and indicators, it reveals that
operations of CCL will continue to be profitable in recent
When an entity has a history of profitable operations and
future and there is no effect on going concern of the
ready access to financial resources, a conclusion that the
entity.
going concern basis of accounting is appropriate may be
reached without any detailed analysis.
J. CAUTIONARY STATEMENT
The management has assessed a range of scenarios to
Statements in the Management Discussion & Analysis and
determine potential impact on underline performance.
Directors' Report prescribing the Company's objectives;
As part of going concern assessment, management has projections and estimates, expectations & predictions
assessed the impact of current events and conditions etc., may be "forward looking statement and progressive
including impact of COVID-19 pandemic and paid within the meaning of applicable laws & regulations.
attention to significant assumptions that are sensitive Forward looking statements contained herein are subject
or susceptible to change or inconsistent with historical to certain risks and uncertainties that would cause actual
trends. The subject judgment is based on reasonable results to defer materially from those reflected in the
assumptions and the perception developed by the forward-looking statements. Actual results will vary from
management on the economic impact of changing those expressed or implied depending upon economic
internal and external contexts on the company’s ability to conditions.”
continue as a going concern.

152
153
 STANDALONE STATEMENT OF ASSETS AND LIABILITIES AS AT 31.03.2023
(₹ in Crore)

Sl. As at 31.03.2023 As at 31.03.2022

Particulars
No. (Audited) (Audited)
A EQUITY AND LIABILITIES
1. Shareholders' funds
(a) Equity Share Capital 940.00 940.00
(b) Other Equity 9,377.49 7,471.98
(c) Money Received against Share Warrants — —
Sub - total - Shareholder's funds 10,317.49 8,411.98
2 Share Application Money pending allotment — —
3 Non-Controlling Interest — —
4 Non-Current Liabilities
(a) Financial Liabilities 232.21 124.13
(b) Deferred Tax Liabilities (Net) — —
(c) Other Non-current Liabilities 452.98 497.13
(d) Provisions 5.334.98 5.118.65
Sub - total - Non-current Liabilities 6,020.17 5,739.91
5 Current Liabilities
(a) Financial Liabilities 2,529.74 2,609.57
(b) Current Tax Liabilities (net) — —
(c) Other Current Liabilities 4,466.99 3,116.14
(d) Provisions 2,174.46 833.75
Sub - total - Current Liabilities 9,171.19 6,559.46
TOTAL - EQUITY AND LIABILITIES 25,508.85 20,711.35
B ASSETS
1 Non- current Assets
(a) Fixed Assets 8,070.06 7,232.06
(b) Goodwill on consolidation — —
(c) Deferred Tax Assets (Net) 504.96 679.47

(d) Financial Assets 1,993.62 1,719.10

(e) Other Non-current Assets 3,056.25 2,287.17

Sub-total - Non-current Assets 13,624.89 11,917.80

154
 2 Current assets
(a) Financial Assets 7,263.85 4,390.16
(b) Inventories 1,144.30 1,031.34
(c) Other Current Assets 3,408.40 3,217.69
(d) Current Tax Assets (net) 67.41 154.36
Sub - total - Current Assets 11,883.96 8,793.55
TOTAL - ASSETS 25,508.85 20,711.35

In terms of our Report of even date on Behalf of the Board

For SPAN & ASSOCIATES Sd/-

Sd/-
CHARTERED ACCOUNTANTS (Pawan Kumar Mishra)
(P. M. Prasad)
(Firm Registration no. 302192E) Director (Finance)
Chairman-cum-Managing Director
DIN- 09665365
DIN 08073913

Sd/- Sd/-
Sd/-
CA K. Chakrabarti (Amaresh Pradhan)
(Rajendra Singh)
Partner Company Secretary
General Manager(Finance)
Membership no. 015363 M. No. - F11264

Place: Ranchi
Dated: 27th April, 2023

155
 STATEMENT OF STANDALONE RESULTS FOR THE
YEAR ENDED 31.03.2023
(₹in Crore except Shares and EPS)
Quarter Ended Year Ended
Sl. Particulars 31.03.2023 31.03.2022 31.12.2022 31.03.2023 31.03.2022
No.
Unaudited Unaudited Unaudited Audited Audited
1 Income from Operations

Gross Sales 6,401.67 6,122.32 5,563.81 22,720.19 18,585.25

Less: Other levies 2,136.06 2,024.94 1,856.21 7,493.98 6,233.12
(a) Net Sales/ Income from operations (Net of
4,265.61 4,097.38 3,707.60 15,226.21 12,352.13
levies)
(b) Other operating income 316.77 316.55 286.38 1,152.99 1,134.29
Total income from operations (Net) (a+b) 4,582.38 4,413.93 3,993.98 16,379.20 13,486.42
2 Expenses

(a) Cost of materials consumed 335.78 311.38 285.72 1,170.83 855.15

(b) Changes in inventories of finished goods, work-
(470.53) (350.94) (24.52) (81.81) 278.86
in- progress and Stock-In-Trade
(c) Employee Benefits Expense 2,557.75 1,384.81 1,588.01 7,222.70 5,476.09
(d) Depreciation/amortisation/impairment 213.98 180.00 170.06 682.96 647.55
(e) Power & fuel Expenses 72.89 68.29 68.04 265.88 261.55
(f) Corporate Social Responsibility Expenses 28.30 24.89 10.75 43.39 53.14
(g) Repairs 90.82 130.97 59.12 243.10 273.20
(h) Contractual Expenses 477.64 544.74 482.48 1944.87 1867.10
(i) Other Expenses 325.80 392.48 297.97 1,050.25 1,202.29
(j) Provisions/write off 284.03 3.17 - 284.03 3.44
(k) Stripping Activity Adjustment (7.36) 585.02 320.22 652.18 725.21
Total expenses ( a to k) 3,909.10 3,274.81 3,257.85 13,478.38 11,643.58
3 Profit/ (Loss) from operations before other income,
673.28 1,139.12 736.13 2,900.82 1,842.84
finance costs and exceptional items (1-2)
4 Other income 356.09 154.46 225.99 918.23 333.66
5 Profit / (Loss) from ordinary activities before
1,029.37 1,293.58 962.12 3,819.05 2,176.50
finance costs and exceptional items (3+4)

156
 STATEMENT OF STANDALONE RESULTS FOR THE
YEAR ENDED 31.03.2023 (CONTD...)
(₹in Crore except Shares and EPS)

Quarter Ended Year Ended

Sl.
Particulars 31.03.2022 31.12.2022 31.03.2023 31.03.2022 31.03.2023
No.
Unaudited Unaudited Audited Audited Unaudited
6 Finance costs 16.09 21.83 19.36 75.44 81.77
7 Profit / (Loss) from ordinary activities after finance
1,013.28 1,271.75 942.76 3,743.61 2,094.74
costs but before exceptional items (5-6)
8 Exceptional items — — — — —
9 Profit / ( Loss ) from ordinary activities before tax (7-8) 1,013.28 1,271.75 942.76 3,743.61 2,094.73
10 Tax expense 289.82 244.21 254.96 991.94 397.81
11 Net Profit / ( Loss ) for the period (9-10) [A] 723.46 1,027.54 687.80 2,751.67 1,696.92
12 Extraordinary items (Net of tax expense) — — — — —
13 Net Profit / ( Loss ) after taxes but before share of
profit / (loss) of associates and minority interest 723.46 1,027.54 687.80 2,751.67 1,696.92
(11 + 12)
14 Share of Profit / (loss) of Associates — — — — —
15 Minority Interest — — — — —
16 Net Profit / (Loss) for the year (13 + 14 + 15) 723.46 1,027.54 687.80 2,751.67 1,696.92
17 Other Comprehensive Income/(loss)(net of tax) [B] 84.08 (48.81) 34.90 177.59 (51.39)
18 Total Comprehensive Income/(loss) [A + B] 807.54 978.73 722.70 2,929.26 1,645.53
19 Paid-up Equity share capital
940.00 940.00 940.00 940.00 940.00
(Face Value of share ₹1000/- each)
20 Earnings per share (EPS)
(Face Value of share ₹1000 /-each) (not annualised)
(a) Basic (₹) 769.64 1093.13 731.70 2927.31 1805.23
(b) Diluted (₹) 769.64 1,093.13 731.70 2,927.31 1,805.23

In terms of our Report of even date on Behalf of the Board

Sd/-
Sd/-
(P. M. Prasad)
For SPAN & ASSOCIATES (Pawan Kumar Mishra)
Chairman-cum-Managing
CHARTERED ACCOUNTANTS Director (Finance)
Director
(Firm Registration no. 302192E) DIN- 09665365
DIN 08073913

Sd/- Sd/- Sd/-

CA K. Chakrabarti (Rajendra Singh) (Amaresh Pradhan)
Partner General Manager(Finance) Company Secretary
Membership no. 015363 M. No. - F11264
Place: Ranchi
Dated: 27th April, 2023

157
 STANDALONE BALANCE SHEET AS AT 31ST MARCH, 2023
(₹in Crore)

As at As at
Notes
31.03.2023 31.03.2022

ASSETS

Non-Current Assets
(a) Property, Plant & Equipments 3 6,045.80 5,737.61
(b) Capital Work in Progress 4 1,313.51 900.83
(c) Exploration and Evaluation Assets 5 683.95 573.69
(d) Intangible Assets 6.1 26.80 8.66
(e) Intangible Assets under Development 6.2 — 11.27
(f) Investment Property — —
(g) Financial Assets

(i) Investments 7 345.53 345.53

(ii) Loans 8 5.10 2.06
(iii) Other Financial Assets 9 1,642.99 1,371.51
(h) Deferred Tax Assets (net) 504.96 679.47
(i) Other Non-current Assets 10 3,056.25 2,287.17
Total Non-Current Assets (A) 13,624.89 11,917.80
Current Assets

(a) Inventories 12 1,144.30 1,031.34

(b) Financial Assets

(i) Investments 7 718.59 64.72

(ii) Trade Receivables 13 3,001.17 2,149.65
(iii) Cash & Cash Equivalents 14 850.64 664.91
(iv) Other Bank Balances 15 2,533.87 1,413.04
(v) Loans 8 0.71 —
(vi) Other Financial Assets 9 158.87 97.84
(c) Current Tax Assets (Net) 67.41 154.36
(d) Other Current Assets 11 3.408.40 3,217.69
Total Current Assets (B) 11,883.96 8,793.55
Total Assets (A+B) 25,508.85 20,711.35

158
 STANDALONE BALANCE SHEET AS AT 31ST MARCH, 2023 (Contd.)
(₹ in Crore)
As at As at
Notes
31.03.2023 31.03.2022
EQUITY AND LIABILITIES
Equity
(a) Equity Share Capital 16 940.00 940.00
(b) Other Equity 17 9,377.49 7,471.98
Equity attributable to Equityholders of the Company 10,317.49 8,411.98
Non-Controlling Interest — —
Total Equity (A) 10,317.49 8,411.98
Liabilities
Non-Current Liabilities
(a) Financial Liabilities
(i) Borrowings 18 — —
(ii) Lease Liabilities — —
(iii) Other Financial Liabilities 20 232.21 124.13
(b) Provisions 21 5,334.98 5,118.65
(c) Other Non-Current Liabilities 22 452.98 497.13
Total Non-Current Liabilities (B) 6,020.17 5,739.91
Current Liabilities
(a) Financial Liabilities
(i) Borrowings 18 — —
(ii) Lease Liabilities
(iii) Trade Payables 19 — —
Total outstanding dues of micro and small enterprises 9.88 6.98
Total outstanding dues of Creditors other than micro and small enterprises 1,305.23 1,554.27
(iv) Other Financial Liabilities 20 1,214.63 1,048.32
(b) Other Current Liabilities 23 4,466.99 3,116.14
(c) Provisions 21 2,174.46 833.75
(d) Current Tax Liabilities (net) — —
Total Non-Current Liabilities (C) 9,171.19 6,559.46
Total Equity and Liabilities (A+B+C) 25,508.85 20,711.35
Significant Accounting Policy 2
Additional Notes to the Financial Statements 38
The Accompanying Notes form an integral part of the Financial Statements.

In terms of our Report of even date on Behalf of the Board

For SPAN & ASSOCIATES Sd/- Sd/-

CHARTERED ACCOUNTANTS (P. M. Prasad) (Pawan Kumar Mishra)
(Firm Registration no. 302192E) Chairman-cum-Managing Director Director (Finance)
DIN 08073913 DIN- 09665365

Sd/- Sd/-
Sd/-
CA K. Chakrabarti (Amaresh Pradhan)
(Rajendra Singh)
Partner Company Secretary
General Manager(Finance)
Membership no. 015363 M. No. - F11264

Place : Ranchi
Dated : 27th April, 2023

159
 STANDALONE STATEMENT OF PROFIT AND LOSS
FOR THE YEAR ENDED 31ST MARCH, 2023
(₹ in Crore)
For the year ended For the year ended
Notes
31.03.2023 31.03.2022
Revenue from Operations 24
A. Sales (Net of levies) 15,226.21 12,352.13
B. Other Operating Revenue (Net of levies) 1,152.99 1,134.29
(I) Revenue from Operations (A+B) 16,379.20 13,486.42
(II) Other Income 25 918.23 333.66
(III) Total Income (I+II) 17,297.43 13,820.08
(IV) Expenses
Cost of Materials Consumed 26 1,170.83 855.15
Changes in inventories of finished goods/work in
27 (81.81) 278.86
progress and Stock in trade
Employee Benefits Expense 28 7,222.70 5,476.09
Power Expenses 265.88 261.55
Corporate Social Responsibility Expenses 29 43.39 53.14
Repairs 30 243.10 273.20
Contractual Expenses 31 1,944.87 1,867.10
Finance Costs 32 75.44 81.77
Depreciation/Amortization/ Impairment 682.96 647.55
Provisions 33 92.13 3.41
Write off 34 191.90 0.03
Stripping Activity Adjustments 652.18 725.21
Other Expenses 35 1,050.25 1,202.29
Total Expenses (IV) 13,553.82 11,725.35
(V) Profit before Exceptional items and Tax (III-IV) 3,743.61 2,094.73
(VI) Exceptional Items — —
(VII) Profit before Tax (V-VI) 3,743.61 2,094.73
(VIII) Tax expense 36
Current Tax 817.43 403.14
Deffered Tax 174.51 (5.33)
(IX) Profit for the year from continuing operations
2,751.67 1,696.92
(VII-VIII)
(X) Profit from discontinued operations — —
(XI) Tax expenses of discontinued operations — —
(XII) Profit from discontinued operations (after Tax)
— —
(X-XI)
(XIII) Share in JV’s/Associate’s Profit/(Loss) — —
(XIV) Profit for the year (IX+XII+XIII) 2,751.67 1,696.92
Other Comprehensive Income 37
A (i) Items that will not be reclassified to profit or
237.32 (68.68)
loss
(ii) Income tax relating to items that will not be
59.73 (17.29)
reclassified to profit or loss

160
 For the year ended For the year ended
Notes
31.03.2023 31.03.2022
B (i) Items that will be reclassified to profit or loss — —
(ii) Income tax relating to items that will be
— —
reclassified to profit or loss
(XV) Total Other Comprehensive Income 177.59 (51.39)
(XVI) Total Comprehensive Income for the year (XIV+XV)
(Comprising Profit /(Loss) and Other Comprehensive 2,929.26 1,645.53
Income for the year)
Profit attributable to :
Owners of the Company 2,751.67 1,696.92
Non-Controlling Interest — —
2,751.67 1,696.92
Other Comprehensive Income attributable to :
Owners of the Company 177.59 (51.39)
Non-Controlling Interest — —
177.59 (51.39)
Total Comprehensive Income attributable to :
Owners of the Company 2,929.26 1,645.53
Non-Controlling Interest — —
(XVII) Earnings per Equity Share (for continuing
operation) :
(1) Basic (₹) 2,927.31 1,805.23
(2) Diluted (₹) 2,927.31 1,805.23
(XVIII) Earnings per Equity Share (for discontinued
operation) :
(1) Basic ( ₹) — —
(2) Diluted ( ₹) — —
(XIX) Earnings per Equity Share (for discontinued &
continuing operation) :
(1) Basic (₹) 2,927.31 1,805.23
(2) Diluted (₹) 2,927.31 1,805.23
Significant Accounting Policy 2
Additional Notes to the Financial Statements 38
The Accompanying Notes form an integral part of the Financial Statements.

In terms of our Report of even date on Behalf of the Board

Sd/- Sd/-
For SPAN & ASSOCIATES (P. M. Prasad) (Pawan Kumar Mishra)
CHARTERED ACCOUNTANTS Chairman-cum-Managing Director Director (Finance)
(Firm Registration no. 302192E) DIN 08073913 DIN- 09665365
Sd/- Sd/- Sd/-
CA K. Chakrabarti (Rajendra Singh) (Amaresh Pradhan)
Partner General Manager (Finance) Company Secretary
Membership no. 015363 M. No. - F11264
Place: Ranchi
Dated: 27th April, 2023

161
 STANDALONE CASH FLOW STATEMENT (INDIRECT METHOD)
For the Year Ended 31st March, 2023
(₹ in Crore)
For the year ended For the year ended
31.03.2023 31.03.2022
CASH FLOW FROM OPERATING ACTIVITIES
Profit before tax 3,743.61 2,094.73
Adjustments for :
Depreciation, Amortisation and Impairment expenses 682.96 647.55
Interest and Dividend Income (254.90) (102.95)
Finance cost 75.44 81.77
(Profit) / Loss on sale of Fixed Assets 0.02 (0.15)
Allowance for trade Receivables 92.13 -
Other Provisions _ 3.41
Liability write back during the Year (352.32) (125.02)
Stripping Activity Adjustment 652.18 725.21
Operating Profit before Current/Non-Current Assets and Liabilities 4,639.12 3,324.55
Adjustment for:
Trade Receivables (Net of Provision) (851.52) 1,252.88
Inventories (112.96) 257.33
Loans and Advances and other financial assets (698.01) (321.78)
Trade Payables (246.14) 200.43
Financial and Other Liabilities 2,980.73 (278.50)
Cash Generated from Operation 5,711.22 4,434.91
Income Tax Paid/Refund (790.21) (388.53)
Net Cash Flow from Operating Activities (A) 4,921.01 4,046.38
CASH FLOW FROM INVESTING ACTIVITIES
Purchase of Property, Plant and Equipment (1,917.35) (1,948.90)
Addtion in Exploration and Evaluation Asset (110.26) (73.90)
Sale proceeds from Property, Plant and Equipment (2.37) (0.64)
Proceeds/(Investment) in Bank Deposit (1,282.66) (540.82)
Proceeds/(Investment) in Mutual Fund, Shares etc. (645.46) (64.61)
Investment in Subsidiary - (280.90)
Interest from Investment 226.58 74.84

162
 For the year ended For the year ended
31.03.2023 31.03.2022
Interest and Dividend income 19.90 8.85
Net Cash from Investing Activities (B) (3,711.62) (2,826.08)
CASH FLOW FROM FINANCING ACTIVITIES

Repayment/Increase in Borrowings — —

Interest & Finance cost pertaining to Financing Activities — _

Dividend on Equity shares (1,023.66) (782.08)

Tax on Dividend on Equity shares — —

Net Cash used in Financing Activities (C) (1,023.66) (782.08)

Net Increase / (Decrease) in Cash & Bank Balances (A+B+C) 185.73 438.22

Cash & cash equivalents as at the beginning of the year 664.91 226.69

Cash & cash equivalents as at the end of the year 850.64 664.91

In terms of our Report of even date For and on Behalf of the Board

Sd/- Sd/-
For SPAN & ASSOCIATES (P. M. Prasad) (Pawan Kumar Mishra)
CHARTERED ACCOUNTANTS Chairman-cum-Managing Director Director (Finance)
(Firm Registration no. 302192E) DIN 08073913 DIN- 09665365

Sd/- Sd/-
Sd/-
CA K. Chakrabarti (Amaresh Pradhan)
(Rajendra Singh)
Partner Company Secretary
General Manager(Finance)
Membership no. 015363 M. No. - F11264

Place: Ranchi
Dated: 27th April, 2023

163
 STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED
31ST MARCH, 2023 – STANDALONE
(₹ in Crore)
A. EQUITY SHARE CAPITAL
As at 31.03.2023
Changes In Equity Re-stated
Balance Changes In Equity Balance
Share Capital due balance
Particulars as at Share Capital during as at
to prior period as at
01.04.2022 the year 31.03.2023
errors 01.04.2021
9400000 Equity Shares of
940.00 — 940.00 — 940.00
₹ 1000/- each
As at 31.03.2022
Changes In Equity Re-stated
Balance Changes In Equity Balance
Share Capital due balance
Particulars as at Share Capital as at
to prior period as at
01.04.2021 during the year 31.03.2022
errors 01.04.2020
9400000 Equity Shares of
940.00 — 940.00 — 940.00
₹ 1000/- each
B. OTHER EQUITY
As at 31.03.2023 (₹ in Crore)
Share Application Remeasurement
General Retained
Particulars Money pending of Defined Total
Reserve Earnings
allotment Benefits Plans
Balance as at 01.04.2022 — 2,392.00 5,305.45 (225.47) 7,471.98
Changes in Accounting Policy or prior
— — — — —
period errors
Restated balance as at 01.04.2022 — 2,392.00 5,305.45 (225.47) 7,471.98
Total Comprehensive Profit — — 2,751.67 177.59 2,929.26
Interim Dividend — — (600.66) — (600.66)
Final Dividend — — (423.00) — (423.00)
Additions during the year — — — — —
Adjustments during the year — (0.09) — — (0.09)
Transfer to / from General reserve — 137.58 (137.58) — _
Buyback of Shares — — — — —
Tax on Buyback — — — — —
Issue of Bonus Shares — — — — —
Balance as at 31.03.2023 — 2,529.40 6,895.88 (47.88) 9,377.58
As at 31.03.2022 (₹ in Crres)
Balance as at 01.04.2021 — 2,307.15 4,475.46 (174.08) 6,608.53
Changes in Accounting Policy or prior
— — — — —
period errors
Restated balance as at 01.04.2021 — 2,307.15 4,475.46 (174.08) 6,608.53
Total Comprehensive Profit — — 1,696.92 (51.39) 1,645.53
Interim Dividend — — (404.20) — (404.20)
Final Dividend — — (377.88) — (377.88)
Additions during the year — — — — —
Adjustments during the year — — — — —
Transfer to / from General reserve — 84.85 (84.85) — —
Corporate Dividend Tax _ _ _ _
Buyback of Shares — — — — —
Tax on Buyback — — — — —
Issue of Bonus Shares — — — — —
Balance as at 31.03.2022 — 2,392.00 5,305.45 (225.47) 7,471.98

164
 Significant Accounting Policies
NOTES TO THE FINANCIAL STATEMENTS

NOTE : 1 CORPORATE INFORMATION 2.2 Basis of Consolidation

Central Coalfields Limited (CCL), a Miniratna company, is 2.2.1 Subsidiaries
a 100% subsidiary of Coal India Limited (A Government of Subsidiaries are all entities over which the Company
India Undertaking) having its registered office at Darbhanga has control. The Company controls an entity when the
House, Ranchi, Jharkhand – 834029. Company is exposed to, or has rights to, variable returns
from its involvement with the entity and has the ability to
The Company is mainly engaged in mining and production affect those returns through its power to direct the relevant
of Coal and also operates Coal washeries. The major activities of the entity. Subsidiaries are fully consolidated
consumers of the company are power and steel sectors. from the date on which control is transferred to the
Consumers from other sectors include cement, fertilisers, Company. They are deconsolidated from the date when
brick kilns etc. control ceases.
The acquisition method of accounting is used to account
CCL has a joint venture agreement with IRCON International
for business combinations by the Company.
Limited & Government of Jharkhand named Jharkhand
Central Railway Limited (JCRL). The basic objective of JCRL The Company combines the financial statements of the
is to build, construct, operate and maintain identified Rail parent and its subsidiaries line by line adding together
Corridor Projects that are critical for evacuation of coal like items of assets, liabilities, equity, cash flows, income
and expenses. Inter-company transactions, balances
from mines in the State of Jharkhand which shall be used for
and unrealised gains on transactions between group
both freight and passenger services and to develop required companies are eliminated. Unrealised losses between
rail infrastructure including construction of railway lines group companies are also eliminated unless the transaction
together with all related facilities etc. provides evidence of an impairment of the transferred asset.
All the companies within CCL normally uses accounting
NOTE 2: SIGNIFICANT ACCOUNTING POLICIES policies as adopted by the CIL for like transactions and
events in similar circumstances. In case of significant
2.1 Basis of preparation of financial statements deviations of a particular constituent company within CIL
i. The financial statements of the Company have been Consolidated, appropriate adjustments are made to the
prepared in accordance with Indian Accounting financial statement of such constituent company to ensure
Standards (Ind AS) notified under the section 133 of conformity with the CIL Consolidated accounting policies.
Companies Act, 2013 (“The Act”) Indian Accounting Non-controlling interests in the results and equity of
Standards) Rules, 2015. subsidiaries are shown separately in the consolidated
ii. The Standalone financial statements have been statement of profit and loss, consolidated statement of
prepared on historical cost basis of measurement, changes in equity and balance sheet respectively.
except for
2.2.2 Associates
l certain financial assets and liabilities measured Associates are all entities over which the Company has
at fair value (refer accounting policy on financial significant influence but no control or joint control.
instruments in para 2.15);
This is generally the case where the Company holds
l Defined benefit plans- plan assets measured at between 20% and 50% of the voting rights.
fair value;
Investments in associates are accounted for using
l Inventories at Cost or NRV whichever is lower the equity method of accounting, after initially being
(refer accounting policy in para no. 2.21). recognised at cost, except when the investment, or a
portion thereof, classified as held for sale, in which caseit is
2.1.1 Rounding of Amounts accounted in accordance with Ind AS 105.
Amounts in these financial statements have been, unless
The Company impairs its net investment in the associates
otherwise indicated, rounded off to ‘rupees in Crore’ upto on the basis of objective evidence.
two decimal points.

165
2.2.3 Joint arrangements When the Company’s share of losses in an equity-accounted
Joint arrangements are those arrangements where the investment equals or exceeds its interest in the entity,
Company is having joint control with one or more other including any other unsecured long-term receivables, the
parties. Company does not recognise further losses, unless it has
incurred obligations or made payments on behalf of the
Joint control is the contractually agreed sharing of control other entity.
of the arrangement which exist only when decisions about
the relevant activities require the unanimous consent of Unrealised gains on transactions between the Company and
the parties sharing control. its associates and joint ventures are eliminated to the extent
of the Company’s interest in these entities. Unrealised
Joint Arrangements are classified as either joint operations losses are also eliminated unless the transaction provides
or joint ventures. The classification depends on the evidence of an impairment of the asset transferred.
contractual rights and obligations of each investor, rather Accounting policies of equity accounted investees have
than the legal structure of the joint arrangement. been changed where necessary to ensure consistency with
the policies adopted by the Company.
2.2.4 Joint Operations
Joint operations are those joint arrangements whereby 2.2.7 Changes in ownership interests
the Company is having rights to the assets and obligations The Company treats transactions with non-controlling
for the liabilities relating to the arrangements. interests that do not result in a loss of control as
transactions with equity owners of the Company. A
Company recognises its direct right to the assets, liabilities,
change in ownership interest results in an adjustment
revenues and expenses of joint operations and its share of
between the carrying amounts of the controlling and non-
any jointly held or incurred assets, liabilities, revenues and
controlling interests to reflect their relative interests in the
expenses. These have been incorporated in the financial
subsidiary. Any difference between the amount of the
statements under the appropriate headings. adjustment to non-controlling interests and any fair value
of consideration paid or received is recognised within
2.2.5 Joint ventures
equity.
Joint ventures are those joint arrangements whereby
the Company is having rights to the net assets of the When the Company ceases to consolidate or equity
arrangements. account for an investment because of a loss of control,
joint control or significant influence, any retained interest in
Interests in joint ventures are accounted for using the the entity is re-measured to its fair value with the change in
equity method, after initially being recognised at cost in carrying amount recognised in profit or loss. This fair value
the consolidated balance sheet. becomes the initial carrying amount for the purposes of
Investments in Joint venture are accounted for using subsequently accounting for the retained interest as an
the equity method of accounting, after initially being associate, joint venture or financial asset. In addition, any
recognized at cost, except when the investment, or a amounts previously recognised in other comprehensive
portion thereof, classified as held for sale, in which caseit is income in respect of that entity are accounted for as if
accounted in accordance with Ind AS 105. the Company had directly disposed of the related assets
or liabilities. This may mean that amounts previously
The Company impairs its net investment in the joint
recognised in other comprehensive income are reclassified
venture on the basis of objective evidence.
to profit or loss.
2.2.6 Equity method If the ownership interest in a joint venture or an associate is
Under the equity method of accounting, the investments reduced but joint control or significant influence is retained,
are initially recognised at cost and adjusted thereafter to only a proportionate share of the amounts previously
recognise the Company’s share of the post-acquisition recognised in other comprehensive income are reclassified
profits or losses of the investee in profit to profit or loss where appropriate.
and loss, and the Company’s share of other comprehensive 2.3 Current and non-current Classification
income of the investee in other comprehensive income.
Dividends received or receivable from associates and joint The Company presents assets and liabilities in the Balance
ventures are recognised as a reduction in the carrying Sheet based on current/ non-current classification. An
amount of the investment. asset is treated as current by the Company when:

166
(a) it expects to realise the asset, or intends to sell or d) the contract has commercial substance (i.e. the risk,
consume it, in its normal operating cycle; timing or amount of the Company’s future cash flows
(b) it holds the asset primarily for the purpose of trading; is expected to change as a result of the contract); and
(c) it expects to realise the asset within twelve months e) it is probable that the Company will collect the
after the reporting period; or consideration to which it will be entitled in exchange
forthe goods or services that will be transferred to the
(d) the asset is cash or a cash equivalent (as defined in
customer. The amount of consideration to which the
Ind AS 7) unless the asset is restricted from being
Company will be entitled may be less than the price
exchanged or used to settle a liability for at least
stated in the contract if the considerationis variable
twelve months after the reporting period. All other
because the Company may offer the customer a
assets are classified as non-current.
price concession, discount, rebates, refunds, credits
A liability is treated as current by the Company when: or be entitled to incentives, performance bonuses, or
(a) it expects to settle the liability in its normal operating similar items.
cycle;
Combination of contracts
(b) it holds the liability primarily for the purpose of
trading; The Company combines two or more contracts entered
into at or near the same time with the same customer
(c) the liability is due to be settled within twelve months (or related parties of the customer) and account for the
after the reporting period; or contracts as a single contract if one or moreof the following
(d) it does not have an unconditional right to defer criteria are met:
settlement of the liability for at least twelve months
after the reporting period. Terms of a liability that a) the contracts are negotiated as a package with a
could, at the option of the counterparty, result in its single commercial objective;
settlement by the issue of equity instruments do not b) the amount of consideration to be paid in one
affect its classification. contract depends on the price or performance of the
All other liabilities are classified as non-current. other contract; or
c) the goods or services promised in the contracts (or
2.4 Revenue recognition some goods or services promised in each of the
Revenue from contracts with customers contracts) are a single performance obligation.

Revenue from contracts with customers is recognized when Contract modification

control of the goods or services are transferred to the The Company account for a contract modification as a
customer at an amount that reflects the consideration to separate contract if both of the following conditions are
which the Company expects to be entitled in exchange present:
for those goods or services. The Company has generally
concluded that it is the principal in its revenue arrangements a) the scope of the contract increases because of the
because it typically controls the goods or services before addition of promised goods or services that are
transferring them to the customer. distinct and
b) the price of the contract increases by an amount of
The principles in Ind AS 115 are applied using the following
consideration that reflects the company’s stand-
five steps:
alone selling prices of the additional promised goods
or services and any appropriate adjustments to that
Step 1 : Identifying the contract
price to reflect the circumstances of the particular
The Company account for a contract with a customer only contract.
when all of the following criteria are met:
Step 2 : Identifying performance obligations
a) the parties to the contract have approved the contract
and are committed to perform their respective At contract inception, the Company assesses the goods or
obligations; services promised in a contract with a customerand identify
as a performance obligation each promise to transfer to
b) the Company can identify each party’s rights
the customer either:
regarding the goods or services to be transferred;
c) the Company can identify the payment terms for the a) a good or service (or a bundle of goods or services)
goods or services to be transferred; that is distinct; or

167
b) a series of distinct goods or services that are transaction price). The refund liability (and corresponding
substantially the same and that have the same pattern change in the transaction price and, therefore, the contract
of transfer to the customer. liability) is updated at the end of each reporting period for
changes in circumstances.
Step 3 : Determining the transaction price
After contract inception, the transaction price can change
The Company consider the terms of the contract and its
for various reasons, including the resolution of uncertain
customary business practices to determine thetransaction
events or other changes in circumstances that change the
price. The transaction price is the amount of consideration
amount of consideration to which the Company expects to
to which the company expects to be entitled in exchange
be entitled in exchange for the promised goods or services.
for transferring promised goods or services to a customer,
excluding amounts collected onbehalf of third parties. The
Step 4 : Allocating the transaction price
consideration promised in a contract with a customer may
include fixed amounts, variable amounts, or both. The objective when allocating the transaction price is for
the Company to allocate the transaction price to each
When determining the transaction price, a Company performance obligation (or distinct good or service) in
consider the effects of all of the following: an amount that depicts the amount of consideration to
- Variable consideration; which the Company expects to be entitled in exchange
for transferring the promised goods or services to the
- Constraining estimates of variable consideration; customer.
- The existence of significant financing component; To allocate the transaction price to each performance
- Non – cash consideration; obligation on a relative stand-alone selling price basis,
the Company determines the stand-alone selling price at
- Consideration payable to a customer. contract inception of the distinct good or service underlying
An amount of consideration can vary because of discounts, each performance obligation in the contract and allocate
rebates, refunds, credits, price concessions, incentives, the transaction price in proportion to those stand-alone
performance bonuses, or other similar items. The promised selling prices.
consideration can also vary if the company’s entitlement to
the consideration is contingent on the occurrence or non- Step 5 : Recognizing revenue
occurrence of a future event. The Company recognizes revenue when (or as) the
Company satisfies a performance obligation by transferring
In some contracts, penalties are specified. In such cases,
penalties are accounted for as per the substance of the a promised good or service to a customer. A good or service
contract. Where the penalty is inherent in determination is transferred when (or as) the customer obtains control of
of transaction price, it form part of variable consideration. that good or service.
The Company transfers control of a good or service over
The Company includes in the transaction price some or all of time and, therefore, satisfies a performance obligation
an amount of estimated variable consideration only to the
and recognizes revenue over time, if one of the following
extent that it is highly probable that a significant reversal
criteria is met:
in the amount of cumulative revenue recognized will not
occur when the uncertainty associated with the variable a) the customer simultaneously receives and
consideration is subsequently resolved. consumes the benefits provided by the company’s
performance as the Company performs;
The Company does not adjust the promised amount of
b) the Company’s performance creates or enhances an
consideration for the effects of a significant financing
asset that the customer controls as the assetis created
component if it expects, at contract inception, that the
or enhanced;
period between when it transfers a promised goods or
service to a customer and when the customer pays for that c) the Company’s performance does not create an asset
good or service will be one year or less. with an alternative use to the Company and the
Company has an enforceable right to payment for
The Company recognizes a refund liability if the Company performance completed to date.
receives consideration from a customer and expects to
For each performance obligation satisfied over time, the
refund some or all of that consideration to the customer. A
refund liability is measured at the amountof consideration Company recognizes revenue over time by measuring
received (or receivable) for which the company does not the progress towards complete satisfaction of that
expect to be entitled (i.e. amounts not included in the performance obligation.

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The Company applies a single method of measuring When either party to a contract has performed, the Company
progress for each performance obligation satisfied over present the contract in the balance sheet as a contract
time and the Company applies that method consistently asset or a contract liability, depending on the relationship
to similar performance obligations and in similar between the company’s performance and the customer’s
circumstances. At the end of each reporting period, the payment. The Company present any unconditional rights to
Company re-measure its progress towards complete consideration separately as a receivable.
satisfaction of a performance obligation satisfied over
time. Contract assets
Company apply output methods to recognize revenue A contract asset is the right to consideration in exchange
on the basis of direct measurements of the value to for goods or services transferred to the customer. If the
the customer of the goods or services transferred to date Company performs by transferring goods or services to a
relative to the remaining goods or services promised under customer before the customer pays consideration or before
the contract. Output methods include methods such as payment is due, a contract asset is recognized for the
surveys of performance completed to date, appraisals of earned consideration that is conditional.
results achieved, milestones reached, time elapsed and
Trade receivables
units produced or units delivered.
A receivable represents the Company’s right to an amount
As circumstances change over time, the Company update of consideration that is unconditional (i.e., onlythe passage
its measure of progress to reflect any changes in the of time is required before payment of the consideration is
outcome of the performance obligation. Such changes to due).
the Company’s measure of progress is accounted for as a
change in accounting estimate in accordance with Ind AS 8, Contract liabilities
Accounting Policies, Changes in Accounting Estimates and
A contract liability is the obligation to transfer goods or
Errors.
services to a customer for which the Company hasreceived
The Company recognizes revenue for a performance consideration (or an amount of consideration is due) from
obligation satisfied over time only if the Company the customer. If a customer pays consideration before the
can reasonably measure its progress towards complete Company transfers goods or services to the customer,
satisfaction of the performance obligation. When (or a contract liability is recognized when the payment
as) a performance obligation is satisfied, the company made or due (whichever is earlier). Contract liabilities are
recognize as revenue the amount of the transaction price recognized as revenue when the Company performs under
(which excludes estimates of variable consideration that the contract.
are constrained that is allocated to that performance
Interest
obligation.
Interest income is recognised using the Effective Interest
If a performance obligation is not satisfied over time, the Method.
Company satisfies the performance obligation at a point
in time. To determine the point in time at which a customer Dividend
obtains control of a promised good or service and the Dividend income from investments is recognised when the
Company satisfies a performance obligation, the Company rights to receive payment is established.
consider indicators of the transfer of control, which include,
but are not limited to, the following: Other Claims
a) the Company has a present right to payment for the Other claims (including interest on delayed realization
good or service; from customers) are accounted for, when there iscertainty
b) the customer has legal title to the good or service; of realisation and can be measured reliably.
c) the Company has transferred physical possession of 2.5 Grants from Government
the good or service;
Government Grants are not recognised until there is
d) the customer has the significant risks and rewards of reasonable assurance that the company will comply
ownership of the good or service; with the conditions attached to them and that there is
e) the customer has accepted the good or service. reasonable certainty that grants will be received.

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Government grants are recognised in Statement of Profit the right-to-use asset from the commencement date to
& Loss on a systematic basis over the periods in which the the earlier of the end of the useful life of the right-of-use
company recognises as expenses the related costs for asset or the end of the lease term.
which the grants are intended to compensate.
2.6.2 Company as a lessor
Government Grants related to assets are presented in the
All leases as either an operating lease or a finance lease.
balance sheet by setting up the grant as deferred income
and are recognised in Statement of Profit and Loss on A lease is classified as a finance lease if it transfers
systematic basis over the useful life of asset. substantially all the risks and rewards incidental to
ownership of an underlying asset. A lease is classified as an
Grants related to income (i.e. grant related to other than
operating lease if it does not transfer substantially all the
assets) are presented as part of statement of profit and loss risks and rewards incidental to ownership of an underlying
under the head ‘Other Income’. asset.
A government grant/assistance that becomes receivable as Operating leases- Lease payments from operating leases
compensation for expenses or losses already incurred or are recognised as income on either a straight- line basis
for the purpose of giving immediate financial support to unless another systematic basis is more representative of
the Company with no future related costs, is recognised in the pattern in which benefit from the use of the underlying
profit or loss of the period in which it becomes receivable. asset is diminished.
The Government grants or grants in the nature of Finance leases- assets held under a finance lease is initially
promoter’s contribution should be recognised directly in recognised in its balance sheet and present them as a
“Capital Reserve” which forms part of the “Shareholders receivable at an amount equal to the net investment in the
fund”. lease using the interest rate implicit in thelease to measure
the net investment in the lease.
2.6 Leases
A contract is, or contains, a lease if the contract conveys the 2.7 Non-current assets held for sale
right to control the use of an identified assetsfor a period of The Company classifies non-current assets and (or disposal
time in exchange for consideration. groups) as held for sale if their carrying amounts will be
recovered principally through a sale rather than through
2.6.1 Company as a lessee continuing use. Actions required to complete the sale
At the commencement date, a lessee shall recognise a should indicate that it is unlikely that significant changes
right-of-use asset at cost and a lease liability at the present to the sale will be made or that thedecision to sell will be
value of the lease payments that are not paid at that date withdrawn. Management must be committed to the sale
for all leases unless the lease term is 12 months or less or expected within one year from the date of classification.
the underlying asset is of low value. For these purposes, sale transactions include exchanges
of non-current assets for other non-current assets when
Subsequently, right-of-use asset is measured using cost
the exchange has commercial substance. The criteria for
model whereas, the lease liability is measured by increasing
held for sale classification is regarded met only when the
the carrying amount to reflect interest on the lease liability,
assets (or disposal group) is available for immediate sale in
reducing the carrying amount to reflect thelease payments
its present condition, subject only to terms that are usual
made and remeasuring the carrying amount to reflect any and customary for sales of such assets (or disposal groups),
reassessment or lease modifications. its sale is highly probable; and it will genuinely be sold,
Finance charges are recognised in finance costs in the not abandoned. The Company treats sale of the asset or
Statement of Profit and Loss, unless the costs are included disposal group to be highly probable when:
in the carrying amount of another asset applying other l The appropriate level of management is committed
applicable standards. to a plan to sell the asset (or disposal group),
Right-of-use asset is depreciated over the useful life of l An active programme to locate a buyer and complete
the asset, if the lease transfers ownership of the asset to the plan has been initiated
the lessee by the end of the lease term or if the cost of l The asset (or disposal group) is being actively
the right-to-use asset reflects that the lessee will exercise marketed for sale at a price that is reasonable in
a purchase option. Otherwise, the lessee shall depreciate relation to its current fair value,

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l The sale is expected to qualify for recognition as a When major inspection is performed, its cost is recognised
completed sale within one year from the date of in the carrying amount of the item of property, plant and
classification, and equipment as a replacement if it is probable that future
l Actions required to complete the plan indicate that economic benefits associated with the item will flow to
it is unlikely those significant changes to theplan will the Company; and the cost of the item can be measured
be made or that the plan will be withdrawn. reliably. Any remaining carrying amount ofthe cost of the
previous inspection (as distinct from physical parts) is
2.8 Property, Plant and Equipment (PPE) derecognised.
Land is carried at historical cost. Historical cost includes An item of Property, plant or equipment is derecognised
expenditure which are directly attributable to the upon disposal or when no future economic benefits are
acquisition of the land like, rehabilitation expenses, expected from the continued use of assets. Any gain or
resettlement cost and compensation in lieu of employment loss arising on such de-recognition of an item of property
incurred for concerned displaced persons etc. plant and equipment is recognised in profit and Loss.
After recognition, an item of all other Property, plant and Depreciation on property, plant and equipment, except
equipment are carried at its cost less any accumulated freehold land, is provided as per cost model on straight
depreciation and any accumulated impairment losses line basis over the estimated useful lives of the asset as
under Cost Model. The cost of an item of property, plant follows:
and equipment comprises:
Other Land : Life of the project or lease
(a) its purchase price, including import duties and non- (incl. Leasehold Land) term whichever is lower
refundable purchase taxes, after deducting trade
discounts and rebates. Building : 3-60 years
(b) any costs directly attributable to bringing the asset Roads : 3-10 years
to the location and condition necessary for it to be
Telecommunication : 3-9 years
capable of operating in the manner intended by
management. Railway Sidings : 15 years
(c) the initial estimate of the costs of dismantling and Plant and Equipment : 5-30 years
removing the item and restoring the site on which it is
located, the obligation for which the Company incurs Computers and Laptops : 3 Years
either when the item is acquired or as aconsequence Office equipment : 3-6 years
of having used the item during a particular period for
purposes other than to produce inventories during Furniture and Fixtures : 10 years
that period. Vehicles : 8-10 years
Each part of an item of property, plant and equipment with
Based on technical evaluation, the management believes
a cost that is significant in relation to the total cost of the
that the useful lives given above best representsthe period
item depreciated separately. However, significant part(s)
over which the management expects to use the asset.
of an item of PPE having same useful lifeand depreciation
Hence the useful lives of the assets may be different from
method are grouped together in determining the
useful lives as prescribed under Part C of schedule II of
depreciation charge.
companies act, 2013.
Costs of the day to-day servicing described as for the
The estimated useful life of the assets is reviewed at the
‘repairs and maintenance’ are recognised in the statement
end of each financial year.
of profit and loss in the period in which the same are
incurred. The residual value of Property, Plant and Equipment is
considered as 5% of the original cost of the asset except
Subsequent cost of replacing parts significant in relation to
some items of assets such as, Coal tub, winding ropes,
the total cost of an item of property, plant and equipment
haulage ropes, stowing pipes & safety lamps etc. for which
are recognised in the carrying amount of the item, if it is
the technically estimated useful life has been determined
probable that future economic benefits associated with
to be one year with nil residual value.
the item will flow to the Company; and the cost of the item
can be measured reliably. The carrying amount of those Depreciation on the assets added / disposed of during the
parts that are replaced is derecognised in accordance with year is provided on pro-rata basis with reference to the
the de-recognition policymentioned below. month of addition / disposal.

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Value of “Other Land” includes land acquired under Coal The value of the provision is progressively increased over
Bearing Area (Acquisition & Development) (CBA) Act, 1957, time as the effect of discounting unwinds; creating an
Land Acquisition Act, 1894, Right to Fair Compensation expense recognised as financial expenses.
and Transparency in Land Acquisition, Rehabilitation and
Further, a specific escrow fund account is maintained for
Resettlement (RFCTLAAR) Act, 2013, Long term transfer
this purpose as per the approved mine closure
of government land etc., which is amortised on the basis
of the balance life of the project; and in case of Leasehold plan.
land such amortisation is based on lease period or balance
The progressive mine closure expenses incurred on year to
life of the project whichever is lower.
year basis forming part of the total mine closure
Fully depreciated assets, retired from active use are
obligation is initially recognised as receivable from escrow
disclosed separately as surveyed off assets at its residual
account and thereafter adjusted with the obligation
value under Property, Plant and Equipment and are tested
in the year in which the amount is withdrawn after the
for impairment.
concurrence of the certifying agency.
Capital Expenses incurred by the company on construction/
development of certain assets which are essential for 2.10 Exploration and Evaluation Assets
production, supply of goods or for the access to any existing Exploration and evaluation assets comprise capitalised
Assets of the company are recognised as Enabling Assets costs which are attributable to the search for coal and
under Property, Plant and Equipment. related resources, pending the determination of technical
feasibility and the assessment of commercial viability
Transition to Ind AS of an identified resource which comprises inter alia the
The company elected to continue with the carrying following:
value as per cost model (for all of its property, plant and
l acquisition of rights to explore
equipment as recognised in the financial statements as
at the date of transition to Ind ASs, measured as per the l researching and analysing historical exploration data;
previous GAAP. l gathering exploration data through topographical,
geo chemical and geo physical studies;
2.9 Mine Closure, Site Restoration and l exploratory drilling, trenching and sampling;
Decommissioning Obligation l determining and examining the volume and grade of
The company’s obligation for land reclamation and the resource;
decommissioning of structures consists of spending at l surveying transportation and infrastructure
both surface and underground mines in accordance with requirements;
the guidelines from Ministry of Coal, Government of India. l Conducting market and finance studies.
The company estimates its obligation for Mine Closure, Site The above includes employee remuneration, cost of
Restoration and Decommissioning based upon detailed materials and fuel used, payments to contractors etc.
calculation and technical assessment of the amount and
As the intangible component represents an insignificant/
timing of the future cash spending to performthe required
indistinguishable portion of the overall expected tangible
work. Mine Closure expenditure is provided as per
costs to be incurred and recouped from future exploitation,
approved Mine Closure Plan. The estimates of expenses
these costs along with other capitalised exploration costs
are escalated for inflation, and then discounted at a are recorded as exploration and evaluation asset.
discount rate that reflects current market assessment of
the time value of money and the risks, such that the amount Exploration and evaluation costs are capitalised on a
of provision reflects the present value of the expenditures project by project basis pending determination of technical
expected to be required to settle the obligation. The feasibility and commercial viability of the project and
company records a corresponding asset associated with disclosed as a separate line item under non-current assets.
the liability for final reclamation and mine closure. The They are subsequently measured at cost less accumulated
obligation and corresponding assets are recognised in impairment/provision.
the period in which the liability is incurred. The asset Once proved reserves are determined and development
representing the total site restoration cost (as estimated by of mines/project is sanctioned, exploration andevaluation
Central Mine Planning and Design Institute Limited) as per assets are transferred to “Development” under capital work
mine closure plan is recognised as a separate item in PPE in progress. However, if proved reservesare not determined,
and amortised over the balance project/mine life. the exploration and evaluation asset is derecognised.

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2.11 Development Expenditure at the end of eachreporting period. Changes in the expected
When proved reserves are determined and development useful life or the expected pattern of consumption of future
of mines/project is sanctioned, capitalised exploration economic benefits embodied in the asset are considered to
and evaluation cost is recognised as assets under modify the amortisation period or method, as appropriate,
construction and disclosed as a component of capital and are treated as changes in accounting estimates. The
work in progress under the head “Development”. All amortisation expense on intangible assets with finite lives
subsequent development expenditure is also capitalised. is recognised in the statement of profit and loss.
The development expenditure capitalised is net of An intangible asset with an indefinite useful life is not
proceeds from the sale of coal extracted during the amortised but is tested for impairment at each reporting
development phase. date.

Commercial Operation Gains or losses arising from de-recognition of an intangible

asset are measured as the difference between the net
The project/mines are brought to revenue; when commercial
disposal proceeds and the carrying amount of the asset
readiness of a project/mine to yield production on a
and are recognised in the statement of profit and loss.
sustainable basis is established either on the basis of
conditions specifically stated in the project report oron the Exploration and Evaluation assets attributable to blocks
basis of the following criteria: identified for sale or proposed to be sold to outside
agencies (i.e. for blocks not earmarked for CIL) are however,
(a) From beginning of the financial year immediately after
classified as Intangible Assets and testedfor impairment.
the year in which the project achieves physicaloutput
of 25% of rated capacity as per approved project Research and Development is recognised as an expenditure
report, or as and when incurred.
(b) 2 years of touching of coal, or
2.13 Impairment of Assets (other than financial assets)
(c) From the beginning of the financial year in which the
value of production is more than total, expenses. The Company assesses at the end of each reporting
Whichever event occurs first; period whether there is any indication that an asset may
be impaired. If any such indication exists, the Company
On being brought to revenue, the assets under capital work
estimates the recoverable amount of the asset. An asset’s
in progress are reclassified as a component of property, plant
recoverable amount is the higher of the asset’s or cash-
and equipment under the nomenclature “Other Mining
generating unit’s value in use and its fair value less costs of
Infrastructure”. Other Mining Infrastructure are amortised
disposal, and is determined for an individual asset, unless
from the year when the mine is brought under revenue in
the asset does not generate cash inflows that are largely
20 years or working life of the project whichever is less.
independent of those from other assets or groups of assets,
in which case the recoverableamount is determined for the
2.12 Intangible Assets
cash-generating unit to which the asset belongs.Company
Intangible assets acquired separately are measured on considers individual mines as separate cash generating
initial recognition at cost. The cost of intangible assets units for the purpose of test of impairment.
acquired in a business combination is their fair value at the
date of acquisition. Following initial recognition, intangible If the recoverable amount of an asset is estimated to be less
assets are carried at cost less any accumulated amortisation than its carrying amount, the carrying amount of the asset
(calculated on a straight-line basis over their useful lives) is reduced to its recoverable amount and the impairment
and accumulated impairment losses, if any. loss is recognised in the Statement of Profit and Loss.

Internally generated intangibles, excluding capitalised 2.14 Investment Property

development costs, are not capitalised. Instead, the related
Property (land or a building or part of a building or both)
expenditure is recognised in the statement of profit and loss
held to earn rentals or for capital appreciation or both,
and other comprehensive income in theperiod in which the
rather than for, use in the production or supply of goods
expenditure is incurred. The useful lives of intangible assets
or services or for administrative purposes; or sale in the
are assessed as either finite or indefinite. Intangible assets
ordinary course of businesses are classified as investment
with finite lives are amortised over their useful economic
property.
lives and assessed for impairment whenever there is an
indication that the intangible asset may be impaired. The Investment property is measured initially at its cost, including
amortisation period and the amortisation method for an related transaction costs and where applicable borrowing
intangible asset with a finite useful life are reviewed at least costs.

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Investment properties are depreciated using the straight- 2.15.2.2 Debt instrument at FVTOCI
line method over their estimated useful lives. A ‘debt instrument’ is classified as at the FVTOCI if both of
the following criteria are met:
2.15 Financial Instruments
a) The objective of the business model is achieved both
A financial instrument is any contract that gives rise to a
by collecting contractual cash flows and selling the
financial asset of one entity and a financial liability or equity
financial assets, and
instrument of another entity.
b) The asset’s contractual cash flows represent SPPI.
2.15.1 Financial assets Debt instruments included within the FVTOCI category are
measured initially as well as at each reporting date at fair
2.15.1 Initial recognition and measurement
value. Fair value movements are recognized in the other
All financial assets are recognised initially at fair value, in the comprehensive income (OCI). However, the Company
case of financial assets not recorded at fair value through recognizes interest income, impairment losses & reversals
profit or loss, plus transaction costs that are attributable and foreign exchange gain or loss in the P&L. On de-
to the acquisition of the financial asset. Purchases or sales recognition of the asset, cumulative gain or loss previously
of financial assets that require delivery of assets within a recognised in OCI is reclassified from the equity to P&L.
time frame established by regulation or convention in the Interest earned whilst holding FVTOCI debt instrument is
market place (regular way trades) are recognised on the reported as interest income using the EIR method.
trade date, i.e., the date that the Company commits to
purchase or sell the asset. 2.15.2.3 Debt instrument at FVTPL
FVTPL is a residual category for debt instruments. Any
2.15.2 Subsequent measurement
debt instrument, which does not meet the criteria for
For purposes of subsequent measurement, financial assets categorization as at amortized cost or as FVTOCI, is
are classified in four categories: classified as at FVTPL.
l Debt instruments at amortised cost In addition, the Company may elect to designate a debt
l Debt instruments at fair value through other instrument, which otherwise meets amortized cost or
comprehensive income (FVTOCI) FVTOCI criteria, as at FVTPL. However, such election
l Debt instruments, derivatives and equity instruments is allowed only if doing so reduces or eliminates a
at fair value through profit or loss (FVTPL) measurement or recognition inconsistency (referred to as
‘accounting mismatch’). The Company has not designated
l Equity instruments measured at fair value through any debt instrument as at FVTPL.
other comprehensive income (FVTOCI)
Debt instruments included within the FVTPL category are
2.15.2.1 Debt instruments at amortised cost measured at fair value with all changes recognized in the
A ‘debt instrument’ is measured at the amortised cost if P&L.
both the following conditions are met:
2.15.2.4 Equity investments in subsidiaries,
a) The asset is held within a business model whose associates and Joint Ventures
objective is to hold assets for collecting contractual
cash flows, and In accordance of Ind AS 101 (First time adoption of Ind AS),
the carrying amount of these investments as per previous
b) Contractual terms of the asset give rise on specified GAAP as on the date of transition is considered to be the
dates to cash flows that are solely payments of deemed cost. Subsequently Investment in subsidiaries,
principal and interest (SPPI) on the principal amount associates and joint ventures are measured at cost.
outstanding.
After initial measurement, such financial assets are In case of consolidated financial statement, Equity
subsequently measured at amortised cost using the investments in associates and joint ventures are accounted
effective interest rate (EIR) method. Amortised cost is as per equity method as prescribed in para 10 of Ind AS 28.
calculated by taking into account any discount or premium
2.15.2.5 Other Equity Investment
on acquisition and fees or costs that are an integral part of
the EIR. The EIR amortisation is included in finance income All other equity investments in scope of Ind AS 109 are
in the profit or loss. The losses arising from impairment are measured at fair value through profit or loss.
recognised in the profit or loss. For all other equity instruments, the Company may make

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an irrevocable election to present in other comprehensive 2.15.2.7 Impairment of financial assets (other than
income subsequent changes in the fair value. The Company fair value)
makes such election on an instrument by instrument basis. In accordance with Ind AS 109, the Company applies
The classification is made on initial recognition and is expected credit loss (ECL) model for measurement and
irrevocable. recognition of impairment loss on the following financial
assets and credit risk exposure:
If the Company decides to classify an equity instrument as a) Financial assets that are debt instruments, and
at FVTOCI, then all fair value changes on the instrument, are measured at amortised cost e.g., loans, debt
excluding dividends, are recognized in the OCI. There is securities, deposits, trade receivables and bank
no recycling of the amounts from OCI to P&L even on sale balance
of investment. However, the Company may transfer the b) Financial assets that are debt instruments and are
cumulative gain or loss within equity. measured as at FVTOCI
c) Lease receivables under Ind AS 116
Equity instruments included within the FVTPL category are d) Trade receivables or any contractual right to receive
measured at fair value with all changes recognized in the P&L. cash or another financial asset that result from
transactions that are within the scope of Ind AS 115
2.15.2.6 De-recognition
The Company follows ‘simplified approach’ for recognition
A financial asset (or, where applicable, a part of a financial of impairment loss allowance on:
asset or part of a group of similar financial assets) is
l Trade receivables or contract revenue receivables; and
primarily derecognised (i.e. removed from the balance
sheet) when: l All lease receivables resulting from transactions
within the scope of Ind AS 116
l The rights to receive cash flows from the asset have The application of simplified approach does not require
expired, or the Company to track changes in credit risk. Rather, it
l The Company has transferred its rights to receive cash recognises impairment loss allowance based on lifetime
flows from the asset or has assumed an obligation ECLs at each reporting date, right from its initial recognition.
to pay the received cash flows in full without 2.15.3 Financial liabilities
material delay to a third party under a ‘pass-through’
2.15.3.1 Initial recognition and measurement
arrangement; and either (a) the Company has
transferred substantially all the risks and rewards of The Company’s financial liabilities include trade and other
payables, loans and borrowings including bank overdrafts.
the asset, or (b) the Company has neither transferred
nor retained substantially all therisks and rewards of All financial liabilities are recognised initially at fair value
the asset, but has transferred control of the asset. and, in the case of loans and borrowings and payables, net
of directly attributable transaction costs.
When the Company has transferred its rights to receive
cash flows from an asset or has entered into a pass- 2.15.3.2 Subsequent measurement
through arrangement, it evaluates if and to what extent The measurement of financial liabilities depends on their
it has retained the risks and rewards of ownership. When classification, as described below: :
it has neither transferred nor retained substantially all of
2.15.3.3 Financial liabilities at fair value through
the risks and rewards of the asset, nor transferred control
profit or loss
of the asset, the Company continues to recognise the
transferred asset to the extent of the Company’scontinuing Financial liabilities at fair value through profit or loss include
involvement. In that case, the Company also recognises an financial liabilities held for trading and financial liabilities
associated liability. The transferred asset and the associated designated upon initial recognition as at fair value through
profit or loss. Financial liabilities are classified as held for
liability are measured on a basis that reflects the rights and
trading if they are incurred for the purpose of repurchasing in
obligations that the Company has retained. Continuing
the near term.This category also includes derivative financial
involvement that takes the form of a guarantee over the instruments entered into by the Company that are not
transferred asset is measured at the lower of the original designated as hedging instruments in hedge relationships
carrying amount of the asset and the maximum amount as defined by Ind AS 109. Separated embedded derivatives
of consideration that the Company could be required to are also classified as held for trading unless they are
repay. designated as effective hedging instruments.

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Gains or losses on liabilities held for trading are recognised such an exchange or modification is treated as the de-
in the profit or loss. recognition of the original liability and the recognition
Financial liabilities designated upon initial recognition at of a new liability. The difference between the carrying
fair value through profit or loss are designated as such at amount of a financial liability (or part of a financial
the initial date of recognition, and only if the criteria in Ind liability) extinguished or transferred to another party
AS 109 are satisfied. For liabilities designated as FVTPL, and the consideration paid, including any non-cash assets
fair value gains/ losses attributable to changes in own transferred or liabilities assumed, shall be recognised in
credit risk are recognized in OCI. These gains/ loss are not profit or loss.
subsequently transferred to P&L. However, the Company
may transfer the cumulative gain or loss within equity. All 2.15.4 Reclassification of financial assets
other changes in fair value of such liability are recognised The Company determines classification of financial assets
in the statement of profit and loss. The Company has not and liabilities on initial recognition. After initial recognition,
designated any financial liability as at fair value through no reclassification is made for financial assets which are
profit and loss. equity instruments and financial liabilities. For financial
assets which are debt instruments, a reclassification is
2.15.3.4 Financial liabilities at amortised cost
made only if there is a change in the business model for
After initial recognition, these are subsequently measured managing those assets. Changes to the business model
at amortised cost using the effective interest rate method. are expected to be infrequent. The Company’s senior
Gains and losses are recognised in profit or loss when management determines change in the business model as
the liabilities are derecognised as well as through the a result of external or internal changes which are significant
effective interest rate amortisation process. Amortised to the Company’s operations. Such changes are evident to
cost is calculated by taking into account any discount external parties. A change in the business model occurs
or premium on acquisition and fees or costs that are an when the Company either begins or ceases to perform
integral part of the effective interest rate. The effective an activity that is significant to its operations. If Company
interest rate amortisation is included as finance costs in the reclassifies financial assets, it applies the reclassification
statement of profit and loss. This category generally applies prospectively from the reclassification date which is the
to borrowings. first day of the immediately next reporting period following
the change in business model. The Company does not
2.15.3.5 De-recognition restate any previously recognised gains, losses (including
A financial liability is derecognised when the obligation impairment gains or losses) or interest.
under the liability is discharged or cancelled or expires. The following table shows various re-classifications and
When an existing financial liability is replaced by another how they are accounted for
from the same lender on substantially different terms, or
the terms of an existing liability are substantially modified,

Original classification Revised classification Accounting treatment

Fair value is measured at reclassification date. Difference between
Amortised cost FVTPL previous amortized cost and fair value is recognisedin P&L.
Fair value at reclassification date becomes its new gross carrying
FVTPL Amortised Cost amount. EIR is calculated based on the new gross carrying
amount.
Fair value is measured at reclassification date. Difference between
Amortised cost FVTOCI previous amortised cost and fair value is recognised in OCI. No
change in EIR due to reclassification.
Fair value at reclassification date becomes its new amortised
FVTOCI Amortised cost cost carrying amount. However, cumulative gain or loss in OCI is
adjusted against fair value. Consequently, the asset ismeasured as
if it had always been measured at amortised cost.
FVTPL FVTOCI Fair value at reclassification date becomes its new carrying
amount. No other adjustment is required.
Assets continue to be measured at fair value. Cumulative gain
FVTOCI FVTPL or loss previously recognized in OCI is reclassified to P&L at the
reclassification date.
2.15.5 Offsetting of financial instruments net amount is reported in the consolidated balance sheet
Financial assets and financial liabilities are offset and the if there is a currently enforceable legal right to offset the

176
recognised amounts and there is an intention to settle on is able to control the reversal of the temporary difference
a net basis, to realise the assets and settle the liabilities and it is probable that the temporary difference will not
simultaneously. reverse in the foreseeable future. Deferred tax assets
arising from deductible temporary differences associated
2.15.6 Cash & Cash Equivalents with such investments and interests are only recognised to
Cash and cash equivalent in the balance sheet comprise the extent that it is probable that there will be sufficient
cash at banks and on hand and short-term deposits with an taxable profits against which to utilise the benefits of the
original maturity of three months or less, which are subject temporary differences.
to an insignificant risk of changesin value. For the purpose
of the consolidated statement of cash flows, cash and The carrying amount of deferred tax assets is reviewed
cash equivalents consist of cash and short-term deposits, at the end of each reporting period and reduced to the
as defined above, net of outstanding bank overdrafts as extent that it is no longer probable that sufficient taxable
they are considered an integral part of the company’s cash profits will be available to allow all or part of the asset to be
management. recovered. Unrecognised deferred tax assets are reassessed
at the end of each reporting year and are recognised to the
2.16 Borrowing Costs
extent that it has become probable that sufficient taxable
Borrowing costs are expensed as and when incurred except profit will be available to allow all or part of the deferred
where they are directly attributable to the acquisition,
tax asset to be recovered.
construction or production of qualifying assets i.e. the assets
that necessarily takes substantial period of time to get ready Deferred tax assets and liabilities are measured at the tax
for its intended use, in which case they are capitalised as rates that are expected to apply in the periodin which the
part of the cost of those asset up to the date when the liability is settled or the asset is realised, based on tax rate
qualifying asset is ready for its intended use. (and tax laws) that have been enacted or substantively
enacted by the end of the reporting period.
2.17 Taxation
Income tax expense represents the sum of the tax currently The measurement of deferred tax liabilities and assets reflects
payable and deferred tax. the tax consequences that would follow fromthe manner in
which the company expects, at the end of the reporting
Current tax is the amount of income taxes payable
period, to recover or settle the carrying amount of its
(recoverable) in respect of the taxable profit (tax loss) for
assets and liabilities.
a period. Taxable profit differs from “profit before income
tax” as reported in the statement of profit and loss and Current and deferred tax are recognised in profit or loss,
other comprehensive income because it excludes items except when they relate to items that are recognised in
of income or expense that are taxable or deductible in other comprehensive income or directly in equity, in which
other years and it further excludes items that are never case, the current and deferred tax are also recognised
taxable or deductible. The company’s liability for current
in other comprehensive income or directly in equity
tax is calculated using tax rates that have been enacted or
respectively. Where current tax or deferred tax arises from
substantively enacted by the end of the reporting period.
the initial accounting for a business combination, the
Deferred tax liabilities are generally recognised for all tax effect is included in the accounting for the business
taxable temporary differences. Deferred tax assets are combination.
generally recognised for all deductible temporary
difference to the extent that it is probable that taxable 2.18 Employee Benefits
profits will be available against which those deductible
temporary differences can be utilised. Such assets and 2.18.1 Short-term Benefits
liabilities are not recognised if the temporary difference
Short-term employee benefits are employee benefits
arises from goodwill or from the initial recognition (other
(other than termination benefits) that are expected to be
than in a business combination) of other assets and
liabilities in a transaction that affects neither the taxable settled wholly before twelve months after the end of the
profit nor the accounting profit. annual reporting period in which the employees render
the related service.
Deferred tax liabilities are recognised for taxable
temporary differences associated with investments in All short term employee benefits are recognized in the
subsidiaries and associates, except where the company period in which the services are rendered by employees.

177
2.18.2 Post-employment benefits and other long benefit payments. Net interest expense and other expenses
term employee benefits related to defined benefit plans are recognised in profit
and loss.
2.18.2.1 Defined contributions plans
When the benefits of the plan are improved, the portion of
A defined contribution plan is a post-employment benefit
the increased benefit relating to past service by employees
plan under which the company pays fixed contribution
is recognised as expense immediately in the statement of
into fund maintained by a separate body and the company
profit and loss.
will have no legal or constructive obligation to pay
further amounts. Obligations for contributions to defined
2.18.3 Other long term Employee Benefits
contribution plans are recognised as an employee benefit
expense in the statement of profit and loss in the periods Other long-term employee benefits are all employee
during which services are rendered by employees. benefits other than short-term employee benefits, post-
employment benefits and termination benefits.
2.18.2.2 Defined benefits plans Other long-term employee benefits include items which
A defined benefit plan is a post-employment benefit plan are not expected to be settled wholly before twelve
other than a defined contribution plan. The company’s net months after the end of the annual reporting period in
obligation in respect of defined benefit plans is calculated which the employees render the related service.
by estimating the amount of future benefit that employees For other long-term employee benefits, net total of the
have earned in return of their service in the current and following amounts is recognized in the statement of profit
prior periods. The benefit is discounted to determine its or loss:
present valueand reduced by the fair value of plan assets, (a) Service cost
if any. The discount rate is based on the prevailing market (b) Net interest on the net defined benefit liability (asset)
yieldsof Indian Government securities as at the reporting
(c) Re-measurements of the net defined benefit liability
date that have maturity dates approximating the terms of
(asset)
the company’s obligations and that are denominated in
the same currency in which the benefits are expected to 2.19 Foreign Currency
be paid.
The company’s reported currency and the functional
The application of actuarial valuation involves making currency for majority of its operations is in Indian Rupees
assumptions about discount rate, expected ratesof return (INR) being the principal currency of the economic
on assets, future salary increases, mortality rates etc. Due environment in which it operates.
to the long term nature of these plans, such estimates are
Transactions in foreign currencies are converted into the
subject to uncertainties. The calculation is performed at
reported currency of the company using the exchange
each balance sheet by an actuary using the projected
rate prevailing at the transaction date. Monetary assets and
unit credit method. When the calculation results in to the
liabilities denominated in foreign currencies outstanding
benefit to the company, the recognisedasset is limited to
at the end of the reporting period are translated at the
the present value of the economic benefits available in the
exchange rates prevailing as at the end of reporting
form of any future refunds from the plan or reduction in
period. Exchange differences arising on the settlement of
future contributions to the plan. An economic benefit is
monetary assets and liabilities or on translating monetary
available to the company if it isrealisable during the life of
assets and liabilities at rates different from those at which
the plan, or on settlement of plan liabilities.
they were translated on initial recognition during the
Re-measurement of the net defined benefit liability, which period or in previous financial statements are recognised
comprise actuarial gain and losses considering the return in statement of profit and loss in the period in which they
on plan assets (excluding interest) and the effects of the arise.
assets ceiling (if any, excluding interest) are recognised
Non-monetary items denominated in foreign currency
immediately in the other comprehensive income. The
are valued at the exchange rates prevailing on the date of
company determines the net interest expense (income)
transactions.
on the net defined benefit liability (asset) for the period
by applying the discount rate used to measure the defined
2.20 Stripping Activity Expense/Adjustment
benefit obligation at the beginning of the annual period
to the then net defined benefit liability (asset), taking into In case of opencast mining, the mine waste materials
account any changes in the net defined benefit liability (“overburden”) which consists of soil and rock on the top
(asset) during the period as a result of contributions and of coal seam is required to be removed to get access to the

178
coal and its extraction. This waste removalactivity is known Slurry (coking/semi-coking), middling of washeries and by
as ‘Stripping’. In opencast mines, the company has to incur products are valued at net realisable value andconsidered
such expenses over the life of the mine (as technically as a part of stock of coal.
estimated).
2.21.2 Stores & Spares
Therefore, as a policy, in the mines with rated capacity of
one million tonnes per annum and above, costof Stripping The Stock of stores & spare parts (which also includes loose
is charged on technically evaluated average stripping ratio tools) at central & area stores are considered as per balances
(OB: COAL) at each mine with due adjustment for stripping appearing in priced stores ledger and are valued at cost
activity asset and ratio-variance account after the mines calculated on the basis of weighted average method. The
are brought to revenue. inventory of stores & spare parts lying at collieries / sub-
stores / drilling camps/ consuming centres are considered
Net of balances of stripping activity asset and ratio variance at the yearend only as per physically verified stores and are
at the Balance Sheet date is shown as Stripping Activity valued at cost.
Adjustment under the head Non - Current Provisions /
Other Non-Current Assets as the case may be. Provisions are made at the rate of 100% for unserviceable,
damaged and obsolete stores and spares and at the rate of
The reported quantity of overburden as per record is 50% for stores & spares not moved for 5 years.
considered in calculating the ratio for OBR accountingwhere
the variance between reported quantity and measured 2.21.3 Other Inventories
quantity is within the permissible limits, as detailed Workshop jobs including work-in-progress are valued
hereunder:- at cost. Stock of press jobs (including work in progress)
Annual Quantum of Permissible limits of and stationary at printing press and medicines at central
OBR Of the Mine variance (%) hospital are valued at cost.
Less than 1 Mill. CUM +/- 5% However, Stock of stationery (other than lying at printing
press), bricks, sand, medicine (except at Central Hospitals),
Between 1 and 5 Mill. CUM +/- 3%
aircraft spares and scraps are not considered in inventory
More than 5 Mill. CUM +/- 2% considering their value not being significant.
However, where the variance is beyond the permissible
limits as above, the measured quantity is considered. 2.22 Provisions, Contingent Liabilities &Contingent
Assets
In case of mines with rated capacity of less than one million
Provisions are recognized when the company has a present
tonne, the above policy is not applied and actual cost of
obligation (legal or constructive) as a resultof a past event,
stripping activity incurred during the year is recognised in
and it is probable that an outflow of economic benefits will
Statement of Profit and Loss.
be required to settle the obligation
2.21 Inventories and a reliable estimate of the amount of the obligation
can be made. Where the time value of money is material,
2.21.1 Stock of Coal provisions are stated at the present value of the expenditure
Inventories of coal/coke are stated at lower of cost and expected to settle the obligation.
net realisable value. Cost of inventories are calculated
All provisions are reviewed at each balance sheet date and
using the Weighted Average method.Net realisable value
adjusted to reflect the current best estimate.
represents the estimated selling price of inventories less
all estimated costs of completion and costs necessary to Where it is not probable that an outflow of economic
make the sale. benefits will be required, or the amount cannot be
estimated reliably, the obligation is disclosed as a
Book stock of coal is considered in the accounts where the
contingent liability, unless the probability of outflow of
variance between book stock and measured stock is upto
economic benefits is remote. Possible obligations, whose
+/- 5% and in cases where the variance is beyond +/- 5%
existence will only be confirmed by the occurrence or
the measured stock is considered. Such stock are valued
non-occurrence of one or more future uncertain events not
at net realisable value or cost whichever is lower. Coke is
wholly within the control of the company, are also disclosed
considered as a part of stock of coal.
as contingent liabilities unless the probability of outflow of
Coal & coke-fines are valued at lower of cost or net economic benefits is remote.
realisable value and considered as a part of stock of coal.

179
Contingent Assets are not recognised in the financial a) relevant to the economic decision-making needs of
statements. However, when the realisation of income is users and
virtually certain, then the related asset is not a contingent b) reliable in that financial statements:
asset and its recognition is appropriate.
(i) represent faithfully the financial position,
financial performance and cash flows of the
2.23 Earnings per share
Company;
Basic earnings per share are computed by dividing the net
(ii) reflect the economic substance of transactions,
profit after tax by the weighted average number of equity
other events and conditions, and not merelythe
shares outstanding during the period. Diluted earnings per
legal form;
shares is computed by dividing the profit after tax by the
weighted average number of equity shares considered for (iii) are neutral, i.e. free from bias;
deriving basic earnings per shares and also the weighted (iv) are prudent; and
average number of equity shares that could have been (v) are complete in all material respects on a
issued upon conversion of all dilutive potential equity consistent basis
shares.
In making the judgment management refers to, and
2.24 Judgements, Estimates and Assumptions considers the applicability of, the following sources in
The preparation of the financial statements in conformity descending order:
with Ind AS requires management to make estimates, (a) the requirements in Ind ASs dealing with similar and
judgements and assumptions that affect the application related issues; and
of accounting policies and the reported amounts of
(b) the definitions, recognition criteria and measurement
assets and liabilities, the disclosures of contingent
concepts for assets, liabilities, income andexpenses
assets and liabilities at the date of financial statements
and the amount of revenue and expenses during the in the Framework.
reported period. Application of accounting policies In making the judgment, management considers the
involving complex and subjective judgements and the most recent pronouncements of International Accounting
use of assumptions in these financial statementshas been Standards Board and in absence thereof those of the other
disclosed. Accounting estimates could change from period standard-setting bodies that use a similar conceptual
to period. Actual results could differ fromthose estimates. framework to develop accounting standards, other
Estimates and underlying assumptions are reviewed on accounting literature and accepted industrypractices, to the
an ongoing basis. Revisions to accounting estimate are extent that these do not conflict with the sources in above
recognised in the period in which the estimates are revised paragraph.
and, if material, their effects are disclosed in the notes to
the financial statements. The Company operates in the mining sector (a sector where
the exploration, evaluation, development production
2.24.1 Judgements phases are based on the varied topographical and geo-
In the process of applying the Company’s accounting mining terrain spread over the lease period running over
policies, management has made the following judgements, decades and prone to constant changes), the accounting
which have the most significant effect on the amounts policies whereof have evolved based on specific industry
recognised in the financial statements: practices supported by research committees and approved
by the various regulators owing toits consistent application
2.24.1.1 Formulation of Accounting Policies over the last several decades. In the absence of specific
Accounting policies are formulated in a manner that result accounting literature, guidance and standards in certain
in financial statements containing relevant and reliable specific areas which are in the process of evolution. The
information about the transactions, other events and Company continues to striveto develop accounting policies
conditions to which they apply. Those policies need not be in line with the development of accounting literature and any
applied when the effect of applying them is immaterial. development therein shall be accounted for prospectively
as per the procedure laid down above more particularly in
In the absence of an Ind AS that specifically applies to a Ind AS 8.
transaction, other event or condition, managementhas used
its judgement in developing and applying an accounting The financial statements are prepared on going concern
policy that results in information that is: basis using accrual basis of accounting.

180
2.24.1.2 Materiality disposal and its value in use. Company considers individual
Ind AS applies to items which are material. Management mines as separate cash generating units for the purpose of
uses judgement in deciding whether individual items or test of impairment. The valuein use calculation is based on
groups of item are material in the financial statements. a DCF model. The cash flows are derived from the budget
Materiality is judged by reference to nature or magnitude for the next five years and do not include restructuring
or both of the item. The deciding factor is whether activities that the Company is not yet committed to or
omitting or misstating or obscuring an information could significant future investments that will enhance the asset’s
individually or in combination with other information performance of the CGU being tested. The recoverable
influence decisions that primary users make on the amount is sensitive to the discount rate used for the DCF
basis of the financial statements. Management also uses model as well as the expected future cash-inflows and
judgement of materiality for determining the compliance the growth rate used for extrapolation purposes. These
requirement of the Ind AS. Further the Company may also estimates are most relevant to other mining infrastructures.
be required to present separately immaterial items when The key assumptions used to determine the recoverable
required by law. amount for the different CGUs, are disclosed and further
W.e.f 01.04.2019 Errors/omissions discovered in the current explained in respective notes.
year relating to prior periods are treated as immaterial
and adjusted during the current year, if all such errors 2.24.2.2 Taxes
and omissions in aggregate does not exceed 1% of total Deferred tax assets are recognised for unused tax losses
revenue from operations (net of statutory levies) as per the to the extent that it is probable that taxable profit will
last audited financial statement of the Company. be available against which the losses can be utilised.
Significant management judgement is required to
2.24.1.3 Operating Lease
determine the amount of deferred tax assets that can be
Company has entered into lease agreements. The Company recognised, based upon the likely timing and the level of
has determined, based on an evaluation of the terms and future taxable profits together with future tax planning
conditions of the arrangements, such as the lease term strategies.
not constituting a major part of the economic life of the
commercial property and the fair value of the asset, that 2.24.2.3 Defined benefit plans
it retains all the significant risksand rewards of ownership
of these properties and accounts for the contracts as The cost of the defined benefit plan and other post-
operating leases. employment medical benefits and the present value of the
obligation are determined using actuarial valuations. An
2.24.2 Estimates and Assumptions actuarial valuation involves making various assumptions
The key assumptions concerning the future and other key that may differ from actual developments in the future.
sources of estimation uncertainty at the reporting date, These include the determination of the discount rate,
that have a significant risk of causing a material adjustment future salary increases and mortality rates.
to the carrying amounts of assets and liabilities within the
next financial year, are described below. The Company Due to the complexities involved in the valuation and its
based its assumptions and estimates on parameters long-term nature, a defined benefit obligation is highly
available when the consolidated financial statements sensitive to changes in these assumptions. All assumptions
were prepared. Existing circumstances and assumptions are reviewed at each reporting date. The parameter most
about future developments, however, may change due to subject to change is the discount rate. In determining the
market changes or circumstances arising that are beyond appropriate discount rate for plans operated in India, the
the control of the Company. Such changes are reflected in
management considers the interest rates of government
the assumptions when they occur.
bonds in currencies consistent with the currencies of the
2.24.2.1 Impairment of Non-financial Assets post-employment benefit obligation.

There is an indication of impairment if, the carrying value The mortality rate is based on publicly available mortality
of an asset or cash generating unit exceeds its recoverable tables of the country. Those mortality tables tend to change
amount, which is the higher of its fair value less costs of only at interval in response to demographic changes.

181
2.24.2.4 Fair value measurement of financial economic feasibility is confirmed, usually when a project
instruments report is formulated and approved.
When the fair values of financial assets and financial
liabilities recorded in the balance sheet cannot be 2.24.2.6 Provision for Mine Closure, Site Restoration
measured based on quoted prices in active markets, their and Decommissioning Obligation
fair value is measured using generally accepted valuation In determining the fair value of the provision for Mine
techniques including the DCF model. The inputs to these Closure, Site Restoration and Decommissioning Obligation,
models are taken from observable marketswhere possible, assumptions and estimates are made in relation to discount
but where this is not feasible, a degree of judgement is rates, the expected cost of site restoration and dismantling
required in establishing fair values. Judgements include and the expected timing of those costs. The Company
considerations of inputs such as liquidity risk, credit risk, estimates provision using the DCF method considering life
volatility and other relevant input/considerations. Changes
of the project/mine based on
in assumptions and estimates about these factors could
affect the reported fair valueof financial instruments. l Estimated cost per hectare as specified in guidelines
issued by Ministry of Coal, Government of India
2.24.2.5 Intangible asset under development
l The discount rate (pre tax rate) that reflect current
The Company capitalises intangible asset under
market assessments of the time value of money and
development for a project in accordance with the
the risks specific to the liability.
accounting policy. Initial capitalisation of costs is based
on management’s judgement that technological and

2.25 Abbreviation used:

a. CGU Cash generating unit l. ECL Eastern Coalfields Limited

b. DCF Discounted Cash Flow m. BCCL Bharat Coking Coal Limited

c. FVTOCI Fair value through Other n. CCL Central Coalfields Limited

Comprehensive Income
d. FVTPL Fair value through Profit & Loss o. SECL South Eastern Coalfields Limited

e. GAAP Generally accepted accounting p. MCL Mahanadi Coalfields Limited

principles
f. Ind AS Indian Accounting Standards q. NCL Northern Coalfields Limited

g. OCI Other Comprehensive Income r. WCL Western Coalfields imited

h. P&L Profit and Loss s. CMPDIL Central Mine Planning & Design Institute
Limited
i. PPE Property, Plant and Equipment t. NEC North Eastern Coalfields

j. SPPI Solely Payment of Principal and u. IICM Indian Institute of Coal Management
Interest
k. EIR Effective Interest Rate v. CIL Coal India Limited

182
 NOTES TO THE STANDALONE FINANCIAL STATEMENTS AS AT 31ST MARCH, 2023
NOTE 3 : PROPERTY, PLANT AND EQUIPMENTS
(₹ In Crore)
Land Building T e l e - Railway Rail Line/Rail Furniture Office Other Survyed off
Freehold Reclamation/ (including water Plant and c o m m u - Sidings Corridor and Equipments Mining Assets
Particulars Land Other Land nication Fixtures Vehicles Aircraft Total
Site Restoration supply, roads and Equipments Infrastruc-
Costs culverts) tures
Gross Carrying Amount:
As at 1st April, 2021 17.49 1,669.89 472.49 320.17 1,749.00 5.74 487.51 2,572.29 17.71 69.85 16.16 — 359.26 80.58 7,838.14
Additions — 62.57 26.82 233.63 269.41 0.22 156.36 63.69 3.54 10.67 12.68 — 24.48 7.30 871.37
Deletions/Adjustments — — (9.42) (0.05) (93.75) (0.33) (0.29) — 2.10 (5.63) 0.12 — 1.83 (1.29) (106.71)
As at 31st March, 2022 17.49 1,732.46 489.89 553.75 1,924.66 5.63 643.58 2,635.98 23.35 74.89 28.96 — 385.57 86.59 8,602.80
As at 1st April, 2022 17.49 1,732.46 489.89 553.75 1,924.66 5.63 643.58 2,635.98 23.35 74.89 28.96 — 385.57 86.59 8,602.80
Additions — 329.15 72.42 54.42 178.21 1.04 92.88 346.25 6.75 17.92 5.86 — 62.61 11.93 1,179.44
Deletions/Adjustments (0.08) 0.08 (102.31) (5.26) (137.69) 0.10 (63.00) — 0.08 (14.15) (0.01) — — (2.64) (324.88)
As at 31st March, 2023 17.41 2,061.69 460.00 602.91 1,965.18 6.77 673.46 2,982.23 30.18 78.66 34.81 — 448.18 95.88 9,457.36
Accumulated Depreciation and Impairment
As at 1st April, 2021 — 346.36 240.65 70.01 983.32 1.87 96.60 266.41 8.78 40.70 8.10 — 208.35 34.99 2,306.14
Charge for the year — 156.47 31.49 21.91 150.88 0.78 33.16 177.28 2.02 11.21 2.68 — 53.55 — 641.43
Impairment — — — — — — — — — — — — 9.30 (10.53) (1.23)
Deletions/Adjustments — (0.07) (1.23) 0.68 (78.84) 0.07 0.34 — 1.56 (5.50) 0.13 — 2.21 (0.50) (81.15)
As at 31st March, 2022 — 502.76 270.91 92.60 1,055.36 2.72 130.10 443.69 12.36 46.41 10.91 — 273.41 23.96 2,865.19
As at 1st April, 2022 — 502.76 270.91 92.60 1,055.36 2.72 130.10 443.69 12.36 46.41 10.91 — 273.41 23.96 2,865.19
Charge for the year — 132.35 49.97 36.71 158.52 0.75 44.88 188.97 1.87 12.14 3.45 — 44.54 — 674.15
Impairment — — — — — — — — — — — — 3.93 (0.99) 2.94
Deletions/Adjustments — — — (0.80) (114.10) 0.04 (12.58) — (0.46) (6.63) — — 4.10 (0.29) (130.72)
As at 31st March, 2023 — 635.11 320.88 128.51 1,099.78 3.51 162.40 632.66 13.77 51.92 14.36 — 325.98 22.68 3,411.56
Net Carrying Amount

As at 31st March, 2023 17.41 1,426.58 139.12 474.40 865.40 3.26 511.06 2,349.57 16.41 26.74 20.45 — 122.20 73.20 6,045.80
As at 31st March, 2022 17.49 1,229.70 218.98 461.15 869.30 2.91 513.48 2,192.29 10.99 28.48 18.05 — 112.16 62.63 5,737.61
1. Title deeds of Immovable Properties not held in name of the Company
Description Gross Title deeds held in Whether title deed holder is a promoter, director or rel- Property
of item of carrying the name of ative# of promoter*/director or employee of promoter/ held since Reason for not being held in the name of the Company
property value director
which date
— Land acquired in pursuance to Coal Mines (Nationalisation) Act 1973, does not require
title deeds separately for corresponding land. All other title deeds for land acquired are in
Other Land 2,061.69 NA NA
possession and are mutated in favour of company except in few cases of freehold lands,
where same is under progress pending legal formalities.

183
 NOTES TO THE STANDALONE FINANCIAL STATEMENTS
AS AT 31ST MARCH, 2023
NOTE 3 : PROPERTY, PLANT AND EQUIPMENTS (Contd…)
2. Other Land includes Land acquired under Coal Bearing Areas (Acquisition and Development) Act, 1957, Land
Acquisition Act, 1984 and other Acts.
3. Depreciation is provided based on estimated useful life, reviewed at the end of each year by the empowered
committee as referred in Significant Accounting Policy para no. 2.8. There is no significant component having
different useful life of value, hence component accounting has not been considered.
4. Impairment has been withdrawn in respect of Surveyed off Assets amounting to ₹ 0.99 Cr. (P.Y.₹ 10.53 Cr. withdrawn).
5. In terms of lease agreements, the company has granted to its customers, a right to occupy and use of certain assets
of the company having gross value of ₹ 7.90 Cr. and wdv of ₹ NIL.
6. Total Depreciation amounting to ₹ 674.15 Cr. (PY ₹ 641.43 Cr.) includes amortisation of ₹ 44.54 Cr. (PY ₹ 53.55 Cr.)
related to other Mining Infrastructures and ₹ 49.97 Cr. (PY ₹ 31.49 Cr.) to Land Reclamation/ Site Restoration Costs.
7. CIL Board in its 491st Board meeting approved the revised project cost of ₹ 3587.37 Cr. in respect of Tori Shivpur
Rail line project for facilitating evacuation of coal against which ₹ 3384.00 Cr. has been deposited with East Central
Railway. EC Railway has spent ₹ 2982.23 Cr. which has been recoginised as Rail Line/ Rail Corridor and the balance
amount of ₹ 401.77 Cr. has been shown as Capital Advance in Note 10 to the Financial Statement. The Company has
received a grant of ₹ 595.82 Cr. till date from CCDAC against the said project.
8. Land Compensation amounting to ₹ 778.62 Cr. has been shown as other Land, which is under reconciliation (Para
7.9 of Note-38 to the Financial Statement).
9. Depreciation charged during the year includes the depreciation capitalised during the year ₹ 4.07 Crore (Previous
year ₹ NIL ) for mines in development phase.

184
 NOTES TO THE STANDALONE FINANCIAL STATEMENTS
AS AT 31ST MARCH, 2023
NOTE 4 : CAPITAL WIP
(₹ in Crore)
Building
(Including water Plant and Railway
Particulars Development Others Total
supply, Equipments Sidings
roads and culverts)
Gross Carrying Amount:
As at 1st April, 2021 250.31 48.89 272.33 351.27 — 922.80
Additions 44.38 183.39 25.14 12.68 — 265.59
Capitalisation/ Deletions (218.59) (11.32) (19.33) (20.04) — (269.28)
As at 31st March, 2022 76.10 220.96 278.14 343.91 — 919.11

As at 1st April, 2022 76.10 220.96 278.14 343.91 — 919.11

Additions 121.92 185.34 198.65 88.68 — 594.59

Capitalisation/ Deletions (36.22) (41.24) (72.11) (34.17) — (184.74)
As at 31st March, 2023 161.80 365.06 404.68 397.42 — 1,328.96
Accumulated Impairment
As at 1st April, 2021 0.63 1.46 — 13.45 — 15.54
Charge for the year 0.44 0.03 — 0.44 — 0.91
Impairment — — — 4.15 — 4.15
Deletions/Adjustments 0.23 (0.09) — (2.46) — (2.32)
As at 31st March, 2022 1.30 1.40 — 15.58 — 18.28
As at 1st April, 2022 1.30 1.40 — 15.58 — 18.28
Charge for the year — — — — — —
Impairment 0.19 0.02 — 3.71 — 3.92
Deletions/Adjustments (1.43) (1.36) — (3.96) — (6.75)
As at 31st March, 2023 0.06 0.06 — 15.33 — 15.45
Net Carrying Amount
As at 31st March, 2023 161.74 365.00 404.68 382.09 — 1,313.51
As at 31st March, 2022 74.80 219.56 278.14 328.33 — 900.83

185
 NOTE 4 : CAPITAL WIP (Contd.)
(₹ in Crore)
1. Capital Work-in-Progress (CWIP) for the FY 2022-23
(a) Ageing schedule for Capital-work-in Progress:
Amount in CWIP for a period of
Less than 1 More than
1-2 years 2-3 years Total
year 3 years
Projects in progress:
Building (including water supply, roads and 129.28 27.16 2.58 2.78 161.80
culverts)
Plant and Equipments 186.06 165.05 7.19 6.76 365.06
Railway Sidings 148.71 21.43 74.59 159.95 404.68
Other Mining infrastructure/Development 89.10 279.43 12.20 16.69 397.42
Others — — — — —
Projects temporarily suspended:
Project Name — — — — —
Total 553.15 493.07 96.56 186.18 1,328.96
(B) Overdue capital-work-in progress
To be completed in
Less than 1-2 2-3 More than
1 year years years 3 years
Projects in progress:
Building (including water supply, roads and culverts)
Construction of 04 nos D- type qtrs & 12 Nos c -type qtr at north
3.64 - - -
urimari OC Birsa Project - NDC & JKEPL (JV)- 2444 dt 21.03.18
cons of 16 no. MQ type qtr.&16 no. B type qtr at birsa 1.24 - - -
Building at B&K 0.28 - - -
Plant and Equipments
W/B under Construction Machine No 9038 to 9040 0.67 - - -
W/B under Construction -Ashoka Mettalics 1.35 - - -
Konar Washery 5.00 - - -
Water Sprinkler 0.11 - - -
Railway Sidings

Railway Siding - Rites Ltd. 191.31 - - -

Other Mining infrastructure/Development

Construction of high level bridge over konar river in Govindpur 2.34
- - -
ph-II
Diversion of montico nala at Govindpur OCP - 1.90 - -
Providing Toe Wall and cutcha Drain near BRO Road - 0.13 - -
Detail engineering survey/route alignment survey - 0.10 - -
Total 203.60 4.47 - -

186
2. Capital Work-in-Progress (CWIP) for the FY 2021-22
(a) Ageing schedule for Capital-work-in Progress:
Amount in CWIP for a period of
Less than 1 More than
1-2 years 2-3 years Total
year 3 years
Projects in progress:
Building (including water supply, roads and
43.42 20.92 6.52 5.24 76.10
culverts)
Plant and Equipments 184.16 17.04 17.10 2.66 220.96
Railway Sidings 27.66 104.71 79.24 66.53 278.14
Other Mining infrastructure/Development 14.21 282.07 34.11 13.52 343.91
Rail Corridor under Construction
Others — — — — —
Projects temporarily suspended:
Project Name — — — — —
Total 269.45 424.74 136.97 87.95 919.11
(B) Overdue capital-work-in progress
To be completed in

Less than 1-2 2-3 More than

1 year years years 3 years
Projects in progress:
Building (including water supply, roads and culverts)
Digging pond at Birsa 0.03 - - -
cons of 16 no. MQ type qtr.&16 no. B type qtr at birsa 1.23 - - -
Construction of 04 nos D- type qtrs & 12 Nos c -type qtr at Birsa
3.12 - - -
Project
Const. of primary school building for rehabilitation area 0.07 - - -
Const. of approach road at rehabilitation area 3.15 km 2.01 - - -
Construction of Single Story D type Quarter at KSP - 0.08 -
CMWO Water Supply Scheme Under Construction - - 0.01
Building Factory & Mines - - 0.05
Building Factory & Mines - - 0.01
Building Under Construction - - 0.25
W/S Building 1st Class UC - - 0.01
Payment to MECON for construction of new WTP/STP/PET and
- - 0.20
upgradation of the same
Strengthening and widening of Main Road from Kathara More
0.81 - - -
to Kathara
Construction of PO Office Amrapali 1.35 - - -
Construction of pre-fab Building 12.01 - - -
Extention of DAV School - - 0.94
Building (including water supply, roads and culverts) 0.08 - - -
Plant and Equipments

187
 To be completed in

Less than 1-2 2-3 More than

1 year years years 3 years
Planning & design Service rendered by CMPDIL 0.18
NIT Services provided by CMPDIL for NIT of CHP for Konar OCP
0.11
(8MTY)
R&D Services provided by CMPDIL NIT of CHP for Konar OCP
0.14
(8MTY)
R&D Services provided by CMPDIL for NIT of CHP for Konar OCP
0.12
(8MTY)
Preparation of Integrated bid document for setting up of Konar
0.05
Washery
R&D Services provided by CMPDIL 58 Engineering Day for
0.12
Konar Washery
Charges for P&D services rendered by CMPDIL Ranchi for Konar - -
0.24
Washery
W/B under Construction Machine No 9025 to 9044 3.34 - - -
Railway Sidings
Extention of Boundary wall of Kargali Railway Siding - 0.11 -
Railway Sidings - - - 74.44
Other Mining infrastructure/Development
Widening & strenghthening of existing road from sayal more - - -
Bhurkunda to Potanga via saunda sayal urimari, Giddi washery 3.85
Saunda, Saunda D via C/Saunda & K. K. mine to sayal to mine
Approach Road to site office through north Urimari Project 0.18 - - -
Providing of 05 nos deep borewell under AKK OCP - 0.08 - -
Construction of By-pass Road on the re-aligned diversion on - - -
0.10
MDR-079
Development work in RD - - - 2.71
Construction of high-level bridge over konar river in Govindpur - - -
2.34
ph-II
Diversion of montico nala at Govindpur OCP 1.90 - - -
Construction of Road by Rites Ltd. 31.69 - - -
Construction of Road by NBCC Ltd. 274.40 - - -
Kedla Washery 0.33 - - -
Other Mining infrastructure/Development 2.98 - - -
Total 341.72 0.29 0.08 79.58

188
 NOTES 5 : EXPLORATION AND EVALUATION ASSETS
(₹ in Crore)
Exploration and
Carrying Amount:
Evaluation Costs
As at 1st April, 2021 500.90
Additions 100.90
Deletions/Adjustments (27.65)
As at 31st March, 2022 574.15
As at 1st April, 2022 574.15
Additions 123.19
Deletions/Adjustments (11.38)
As at 31st March, 2023 685.96
Accumulated Provision and Impairment
As at 1st April, 2021 1.11
Charge for the year —
Impairment _
Deletions/Adjustments (0.65)
As at 31st March, 2022 0.46
As at 1st April, 2022 0.46
Charge for the year —
Impairment 1.55
Deletions/Adjustments _
As at 31st March, 2023 2.01
Net Carrying Amount
As at 31st March, 2023 683.95
As at 31st March, 2022 573.69
1. (a) Ageing schedule for exploration and evaluation assets for the FY 2022-23
Amount in Exploration & Evaluation for a period of

Less than 1 More than

1-2 years 2-3 years Total
year 3 years

E&E Projects in progress: 214.26 149.01 72.30 248.84 684.41

E&E projects temporarily suspended: - - - - -

Project Name 0 0 0.76 0.79 1.55

Total 214.26 149.01 73.06 249.63 685.96

189
 NOTES 5 : EXPLORATION AND EVALUATION ASSETS (Contd...)

(b) Overdue exploration and evaluation assets

To be completed in

Less than More than 3

1-2 years 2-3 years
1 year years
E&E Projects in progress:

Total - - - -
2. (a) Ageing schedule for exploration and evaluation assets for the FY 2022-23
Amount in Exploration & Evaluation for a period of

Less than 1 More than

1-2 years 2-3 years Total
year 3 years

E&E Projects in progress: 223.00 39.94 40.25 269.18 572.37

E&E projects temporarily suspended: - - 1.78 - 1.78

Project Name

Total 223.00 39.94 42.03 269.18 574.15

3. Overdue exploration and evaluation assets
To be completed in

Less than 1 More than 3

1-2 years 2-3 years
year years
E&E Projects in progress:

CMPDIL capital expenditure for Karo Washery - 0.55 - -

CMPDIL capital expenditure for Konar Washery - 0.93 - -

CMPDIL capital expenditure for Konar Sub Station - 0.26 - -

R&D Job done for Project Planning during April, - 0.05 - -

2018 by CMPDIL for new Kargali Washery
Total 0 1.78 - -

190
 NOTE 6.1: INTANGIBLE ASSETS
(₹ in Crore)

Computer Coal Blocks

Particulars Others Total
Software meant for Sale

Carrying Amount:
As at 1st April, 2021 12.30 7.28 — 19.58

Additions 0.02 — — 0.02

Deletions/Adjustments — — — —

As at 31st March, 2022 12.32 7.28 — 19.60

As at 31st March, 2022 12.32 7.28 — 19.60

Additions 22.61 — — 22.61

Deletions/Adjustments — — — —

As at 31st March, 2023 34.93 7.28 — 42.21

Accumulated Provision and Impairment

As at 1st April, 2021 8.65 — — 8.65

Charge for the year 2.29 — — 2.29

Impairment — — — —

Deletions/Adjustments — — — —

As at 31st March, 2022 10.94 — — 10.94

As at 1st April, 2022 10.94 — — 10.94

Charge for the year 4.47 — — 4.47

Impairment — — — —

Deletions/Adjustments — — — —

As at 31st March, 2023 15.41 — — 15.41

Net Carrying Amount

As at 31st March, 2023 19.52 7.28 — 26.80

As at 31st March, 2022 1.38 7.28 — 8.66

1. Coal blocks meant for sale represents expenses incurred towards initial development on mines to be recovered on disposal of
such blocks by the authority.

191
 NOTE 6.2 : INTANGIBLE ASSETS UNDER DEVELOPMENT
(₹ in Crore)

Particulars Computer Software Total

Carrying Amount:
As at 1st April, 2021 — —

Additions 11.27 11.27

Deletions/Adjustments — —

As at 31st March, 2022 11.27 11.27

As at 1st April, 2022 _ —

Additions 11.27 11.27

Deletions/Adjustments (11.27) (11.27)

As at 31st March, 2023 _ _

Accumulated Provision and Impairment

As at 1st April, 2021 — —

Charge for the year — —

Impairment — —

Deletions/Adjustments — —

As at 31st March, 2022 — —

As at 1st April, 2022 — —

Charge for the year — —

Impairment — —

Deletions/Adjustments — —

As at 31st March, 2023 — —

Net Carrying Amount

As at 31st March, 2023 _ _

As at 31st March, 2022 11.27 11.27

192
 NOTE 7 : INVESTMENTS
(₹ in Crore)

No. of Shares As at As at
Particulars
Held 31.03.2023 31.03.2022
Non Current
Investment in Co-operative Shares(Unquoted)
Investment in secured Bonds(Quoted) _ _
Investment in Shares
6,46,31,232
Equity Shares in Subsidiary Company-JCRL 64.63 64.63
(6,46,31,232)
Other Investments
Share Application Money — —
Interest free loan to JCRL(Quasi Equity) 280.90 280.90
Total 345.53 345.53
Aggregate amount of quoted investments: — —
Market value of quoted investments — —
Aggregate amount of unquoted investments: 345.53 345.53
Aggregate amount of impairment in value of investments: — —

193
 NOTE 7 : INVESTMENTS (Contd…)
(₹ in Crore)

NAV/ Face Value per Unit (in ₹)

Particulars As at As at As at As at
31.03.2023 31.03.2022 31.03.2023 31.03.2022
Current
Mutual Fund Investment
UTI Liquid Cash Plan - - - -
SBI Ultra Short Term Fund 5,158.4197 4,897.0747 647.83 64.66
SBI Mutual Fund- Liquid 3,523.3030 3,333.0896 4.47 0.02
0.01
Canara Robeco Mutual Fund- Liquid 2,696.7127 2,549.7953
17.68
0.01
Union Mutual Fund- Liquid 2,169.4479 2,050.9509
10.12
0.02
BNP Paribas Liquid Fund 2,595.4687 2,452.9344
38.89
Other Investments
8.5% Tax Free Special Bonds (Fully
Paid Up) (On Securitisation of Trade — —
Receivables)
Investment in Inter-corporate Deposit — —
Major State Wise Break Up
— UP — —
— Haryana — —
Total 718.59 64.72
Aggregate of quoted investment: — —
Market value of quoted investment — —
Aggregate of unquoted investments: 718.59 64.72
Aggregate amount of impairment in
— —
value of investments:

Details of Mutual Fund purchased and redeemed during the Year

(₹ in Crore)

Total Purchased During Redemption During the

Opening Balance Closing Balance
Particulars the Year Year
No. of Units Amount No. of Units Amount No. of Units Amount No. of units Amount
SBI Ultra Short-Term Fund 1,32,036.45 64.66 38,09,330.08 1,900.00 26,85,496.34 1,335.370 12,55,870.19 647.83
SBI Mutual Fund -Liquid 47.70 0.02 21,56,277.21 741.47 21,43,634.41 745.53 12,690.50 4.47
Canara Robeco Mutual Fund- Liquid 41.29 0.01 99,779.58 26.33 34,247.27 8.94 65,573.60 17.68
Union Mutual Fund -Liquid 66.11 0.01 67,617.92 14.40 21,061.56 4.44 46,622.47 10.12
BNP Paribas Liquid Fund 72.58 0.02 2,67,590.14 67.80 1,19,384.11 30.16 1,48,278.61 38.49
Total 1,32,264.13 64.720 64,00,594.93 2,750.00 50,03,823.69 2,124.44 15,29,035.37 718.59

The company invests in liquid scheme (Growth option) & Ultra Short-Term Fund (Growth Option).

194
 NOTE 8 : LOANS
(₹ in Crore)
As at As at
31.03.2023 31.03.2022
Non-Current
Loans to Related Parties
— Secured, considered good — —
— Unsecured, considered good — —
— Doubtful — —
Less: Allowance for doubtful loans — —
— —
Loans to other than Related Parties
Loans to body corporate and employees
— Secured, considered good 5.10 2.06
— Unsecured, Considered good — —
— Have significant increase in Credit risk — —
— Credit impaired — —
5.10 2.06
Less: Allowance for doubtful loans — —
5.10 2.06

Details of non current loans to related parties 31.03.2023 31.03.2022

Type of borrower Gross Amount % to the total Gross Amount % to the total
Outstanding gross loans Outstanding gross loans
Directors — — — —
KMPs — — — —
Related Parties — — — —
Total — — — —

195
 NOTE 8 : LOANS (Contd…)
(₹ in Crore)
As at As at
31.03.2023 31.03.2022
Current
Loans to Related Parties
— Secured, considered good — —
— Unsecured, Considered good — —
— Have significant increase in Credit risk — —
— Credit impaired — —
— —
Less: Allowance for doubtful loans — —
— —
Loans to other than Related Parties
Loans to body corporate and employees
— Secured, considered good 0.71 —
— Unsecured, Considered good — —
— Credit impaired — —
0.71 —
Less: Allowance for doubtful loans — —
0.71 —

Details of non current loans to related parties 31.03.2023 31.03.2022

Type of borrower Gross Amount % to the total Gross Amount % to the total
Outstanding gross loans Outstanding gross loans
Directors — — — —
KMPs — — — —
Related Parties — — — —
Total — — — —
1. For dues from directors - Refer Note 38(6)(d)
2. Loans to Employees are secured against trems of Service.

196
 NOTE 9 : OTHER FINANCIAL ASSETS
(₹ in Crore)
As at As at
31.03.2023 31.03.2022
Non-Current
Bank Deposits with more than 12 months maturity — —
Deposits with bank under Shifting & Rehabilitation Fund scheme — —
Deposits with bank under Mine Closure Plan 1,526.83 1,365.00
Security Deposit 116.24 6.59
Less : Allowance for doubtful deposits 0.08 116.16 0.08 6.51
Other Deposit and Receivables — —
Less : Allowance for doubtful deposits & receivables — — — —
TOTAL 1,642.99 1,371.51

Current
Current Account with Holding Company (including RSO) — —
Interest accrued 28.61 28.60
Claims & other receivables* 144.55 83.53
Less : Allowance for doubtful claims 14.29 130.26 14.29 69.24

TOTAL 158.87 97.84

1. Deposits with bank under mine Closure plan

Balance in Escrow Account (Current/Non Current on opening date 1,365.00 1,250.53
Add:Amount Deposited durign the Year 105.06 106.52

Add:Interest Credited during the Year 62.27 43.25

Less: Amount Withdrawn during the Year 5.50 35.30

Balance in Escrow Account (Current/ Non Current) on Closing date 1,526.83 1,365.00

2. *Since coal became excisable w.e.f. 01.03.2011, Royalty and SED were considered as “Other Taxes” and excluded from the
Transaction Value. Consequent upon the summon issued by the Directorate General of Central Excise Intelligence (DGCEI), New
Delhi and discussion held thereon, CIL, Holding Company, who represented the issue, has advised to include Royalty and SED
in the Transaction Value and pay Central Excise Duty under protest till the case pending in the Nine Member Bench of Hon’ble
Supreme Court is disposed off. Accordingly, ₹ 85.14 Crs.has been paid under protest against coal dispatched and on consumption
of raw coal in washeries during the period from March’2011 to February’2013 and consequently supplementary bills have been
raised for the said period to the tune of ₹ 79.95 Cr. Out of ₹ 79.95 Cr., balance realizable amount of ₹ 3.96 Cr. from cash sales
customers has been shown under the head “Other Receivable “. Out of ₹ 3.96 Cr., customers have obtained stay order for ₹ 2.56 Cr.
from Hon’ble High Courts of Kolkata and Jharkhand and against balance of ₹ 1.40 Cr., provision of ₹ 1.38 Cr. has been made.
3. For dues from directors – Refer. Note 38 (6) (d)

197
 NOTE 10 : OTHER NON-CURRENT ASSETS
As at As at
31.03.2023 31.03.2022

(i) Capital Advances 2,065.10 1,536.85

Less : Allowance for doubtful advances - 2,065.10 0.08 1,536.77
(ii) Advances other than Capital Advances
(a) Other Deposits and advances - -
Less : Allowance for doubtful advances — - — -
(b) Progressive Mine Closure Expense
991.15 750.40
incurred
(c) Advances to related parties — -
3,056.25 2,287.17

Maximum Amount Due

Closing Balance
at Any Time During
Particulars
Previous Year Previous Year Previous Year Previous Year
(₹ in crores) (₹ in crores) (₹ in crores) (₹ in crores)
Due by the Companies in which Directors of the
NIL NIL NIL NIL
Company is also a Director/ Member

Due by the parties in which the Director(s) of Company

NIL NIL NIL NIL
is /are interested
1. Capital Advance includes ₹ 401.77 Cr. (P.Y. ₹ 348.02 Cr.) given to EC Railway for construction of Tori-Shivpur Rail Line
& ₹ 1212.15 Cr. given to State Government aganist GMJJ Land.

198
 NOTE 11 : OTHER CURRENT ASSETS
(₹ in Crore)

As at As at
31.03.2023 31.03.2022
(a) Advance payment of statutory dues 540.65 270.94
Less: Allowance for doubtful advances - 540.65 0.89 270.05
(b) Other Advances and Deposits 1,344.58 1,604.60
Less: Allowance for other deposits & advances 19.45 1,325.13 21.24 1,583.36
(c) Progressive Mine Closure Expense incurred 87.05 95.77
(d) Input Tax Credit Receivable 1,455.57 1,268.51
TOTAL 3,408.40 3,217.69

Maximum Amount Due

Closing Balance
at Any Time During
Particulars
Previous Previous
Current Year Current Year
Year Year

(₹ in crores) (Rs.in crores) (₹ in crores) (₹ in crores)

Due by the Companies in which Directors of the Company is also
NIL NIL NIL NIL
a Director/ Member

Due by the parties in which the Director(s) of Company is /are

NIL NIL NIL NIL
interested

1. For dues from directors - Refer Note 38(6)(d)

199
 NOTE 12 : INVENTORIES
(₹ in Crore)

As at As at
31.03.2023 31.03.2022
(a) Stock of Coal 965.24 881.21
Coal under Development — —

965.24 881.21
(b) Stock of Stores & Spares (at cost) 174.70 144.46
Add: Stores-in-transit — —
Net Stock of Stores & Spares (at cost) 174.70 144.46

(c) Stock of Medicine at Central Hospital 1.66 0.75

(d) Workshop Jobs and Press jobs 2.70 4.92
Total 1,144.30 1,031.34

200
 ANNEXURE TO NOTE – 12
Table – A

Reconciliation of Closing Stock of Raw Coal

Adopted in the Financial Statements with Book Stock as at the end of the period:

(Qty in Lakh tonnes) (Value in ₹ Crore)

OVERALL STOCK NON—VENDABLE STOCK/ VENDABLE STOCK
Particulars MIXED STOCK
Qty. Value Qty. Value Qty. Value

1. (A) Opening Stock as on 01.04.2022 76.43 589.11 1.21 — 75.22 589.11

(B) Adjustment in Opening Stock — —

2. Production for the Year 760.87 — — — 760.87 —

3. Sub—Total ( 1+2) 837.30 589.11 1.21 — 836.09 589.11

4. Off— Take for the Year:

(A) Outside Despatch 696.69 19,305.72 — — 696.64 19,305.72

(B) Coal feed to Washeries 53.55 573.40 — — 53.60 573.40

(C) Own Consumption — — — — — —

TOTAL (A) 750.24 19,879.12 — — 750.24 19,879.12

5. Derived Stock 87.06 758.80 1.21 — 85.85 758.80

6. Measured Stock 86.22 751.75 1.18 — 85.04 751.75

7. Difference (5—6) 0.84 7.05 0.03 — 0.81 7.05

8. Break—up of Difference:

(A) Excess within 5% 0.21 1.80 — — 0.21 1.80

(B) Shortage within 5% 1.05 8.85 0.03 — 1.02 8.85

(C) Excess beyond 5% — — — — — —

(D) Shortage beyond 5% — — — — — —

9. Closing stock adopted in A/c.(6—8A+8B) 87.06 758.80 1.21 — 85.85 758.80

201
 ANNEXURE TO NOTE – 12 (Contd...)
Table – B

Summary of Closing Stock of Coal/Coke etc.

(Qty in Lakh tonnes) (Value in ₹ Crore)
Washed/Deshaled Coal
Particulars Raw Coal Other Products* Total
Coking Non—Coking

Qty Value Qty Value Qty Value Qty Value Qty Value

Opening Stock (Audited) 76.43 589.11 0.18 8.86 0.55 5.81 15.53 277.43 92.69 881.21

Less: Non—vendable Coal/ — — — — — — — 1.21 —

Mixed Stock 1.21

Adjusted Opening Stock 589.11 0.18 8.86 0.55 5.81 15.53 277.43 91.48 881.21
(Vendable) 75.22

Production 760.87 — 7.21 — 36.65 — 8.23 — 812.96 —

Offtake

(A) Outside Despatch 696.64 19,305.72 7.09 610.13 36.91 1,618.97 12.29 830.90 752.93 22,365.72

(B) Coal feed to Washeries 53.60 573.40 — — — — — — 53.60 573.40

(C) Own Consumption — — — — — — — — — —

Closing Stock 85.85 758.80 0.30 7.30 0.29 2.81 11.47 196.33 97.91 965.24

Less: Shortage — — — — — — — — — —

Closing Stock (Adopted) 85.85 758.80 0.30 7.30 0.29 2.81 11.47 196.33 97.91 965.24

1. Value of Despatch of Other Products includes value of Non Coking Slurry and Rejects, but quantity of Despatch
does not include despatch of Non Coking Slurry 36271 MT (P.Y. 12047 MT) and Rejects (Both Coking & Non Coking)
145127 MT (P.Y. 102739 MT).
2. Closing Stock of Non Coking Slurry and Coking and Non Coking Rejects as on 31.03.2023 is 195868 MT (P.Y. 231247
MT) and 6541688 MT (P.Y. 6511890 MT) respectively, valued at NIL in absence of availability of ready market. Sales
are recognised on realisable basis.
3. Closing stock of coal is measured volumetrically and converted to weight (tonne) by applying the identified
conversion factor. To take care of the inherent approximation error of volumetric measurement and subsequent
conversion thereof to weight by applying a mathematically determined conversion factor, the variance of (+/-)
5% between book stock and physical stock is ignored as per Accounting Policy of the Company being followed
consistently over the years and the net shortage of Book Stock (Vendable) of 0.81 Lakh Tonne valuing ₹ 7.05 Cr.
remains unadjusted in the Books of Account.
4. Stock of Raw coal includes 21014 Te amounting to ₹ 4.32 Cr. lying at Urimari OCP since 2010 is sub-judice and
valued at old CPT.

202
 NOTE 13 : TRADE RECEIVABLES
(₹ in Crore)
As at As at
31.03.2023 31.03.2022

Secured considered good — —

Unsecured considered good 3,001.17 2,149.65
Credit impaired 380.39 288.26
3,381.56 2,437.91
Less : Allowance for bad & doubtful debts 380.39 3,001.17 288.26 2,149.65
Total 3,001.17 2,149.65
1. Trade Receivables ageing as at 31.03.2023

Outstanding for following periods from transaction date

Particulars Total
Less than 6 months More than
1-2 years 2-3 years
6 months 1 year 3 years

(i) Undisputed Trade receivables – considered good 1.844.84 236.64 832.95 3.27 83.47 3,001.17

(ii) Undisputed Trade Receivables – credit impaired — — — — — —

(iii) Disputed Trade Receivables– considered good — — — — — —

(iv) Disputed Trade Receivables – credit impaired — — — — 380.39 380.39

Total 1.844.84 236.64 832.95 3.27 463.86 3,381.56

Unbilled dues — — — — — —

Allowance for bad & doubtful debts — — — — 380.39 380.39

Expected credit losses (Loss allowance provision) - % — — — — 82.01% 11.25%

Trade Receivables ageing as at 31.03.2022

Outstanding for following periods from transaction date

Particulars Total
Less than 6 6 months More than
1-2 years 2-3 years
months 1 year 3 years

(i) Undisputed Trade receivables – considered good 892.16 351.17 793.56 214.78 (102.02) 2,149.65

(ii) Undisputed Trade Receivables – credit impaired — — — — — —

(iii) Disputed Trade Receivables– considered good — — — — — —

(iv) Disputed Trade Receivables – credit impaired — — — — 288.26 288.26

Total 892.16 351.17 793.56 214.78 186.24 2,437.91

Unbilled dues — — — — — —

Allowance for bad & doubtful debts — — — — 288.26 288.26

Expected credit losses (Loss allowance provision) - % — — — — 154.78% 11.82%

203
 NOTE 13 : TRADE RECEIVABLES (Contd...)
2. Movement of Provision against Trade Receivables

(₹ in Crore)
AMOUNT
PARTICULARS Bad & Doubtful Coal Quality
Debts Variance/Moisture
Opening Balance as on 01.04.2022 288.26 531.99
Add : Provision made during the year 92.13 125.87
Balance Provision 380.39 657.86
Less : Provision Withdrawn — 480.34
Balance provision against Trade Receivables as on 31.03.2023 380.39 177.52
3. Trade receivables above is net of Provision of Coal quality variance & moisture of ₹ 177.52 Crore (₹ 531.99 Crore)
4. For dues from directors - Refer Note 38(6)(d)

204
 NOTE 14 : CASH AND CASH EQUIVALENTS
(₹ in Crore)
As at As at
31.03.2023 31.03.2022
(a) Balances with Banks
in Deposit Accounts 12.31 0.39
in Current Accounts
— Interest Bearing (CLD) 640.54 67.25
— Non-interest Bearing 97.61 597.25
in Cash Credit Accounts — —
(b) Bank Balances outside India — —
(c) ICDs with Primary Dealers 100.00 —
(d) Cheques, Drafts and Stamps in hand 0.01 0.01
(e) Cash on hand — —
(f ) Cash on hand outside India — —
(g) Others (e-procurement account/GeM
0.17 0.01
account/Imprest balances)
Sub-total Cash and Cash Equivalents 850.64 664.91
(h) Bank Overdraft — —
Total Cash and Cash Equivalents (net of Bank Overdraft) 850.64 664.91
Note:
1 Cash and cash equivalents comprise of cash on hand and at bank, sweep accounts and term deposits held with
banks with original maturities of three months or less.
2 Balances with banks to the extent held as margin money or security against the borrowings, guarantees, other commitments
is ₹ NIL.
3 Balance of Cash on Hand is as per Cash Verification Report certified by the management.
4 The bank guarantees issued by CCL on account of court case in M/s Nav Shakti Fuels Vs CCL & Others in FA No.101/2007 against
lien secured by Deposits in Account no. 0404002100045433 for an amount of ₹ 0.39 Cr.
5 Cash & Cash Equivalents includes ₹ 441.45 Crore collected from customers as Composit User Fees.
6 ICDs with Primary Dealers are Inter-Corporate Deposits accepted by the Primary Dealers with an original maturiy between 7 to
15 days. Details is as under-
(₹ in Crore)

Primary Dealers

ICICI Securities 100.00 —

Total 100.00 —

7. Deposti account includes ₹ 11.92 Cr. deposited under CSR Unspent account as per CSR Policy under Companies
Amendment Act, 2017.

205
 NOTE 15 : OTHER BANK BALANCES

(₹ in Crore)

As at As at
31.03.2023 31.03.2022

Balances with Banks

Deposit Accounts 2,493.81 1,374.33
Deposit Accounts (for specific purposes)* 40.60 38.71
Mine Closure Plan — —
Shifting and Rehabilitation Fund scheme — —
Escrow Account for Buyback of Shares — —
Unpaid Dividend Accounts — —
Dividend Accounts — —
Total 2,533.87 1,413.04

Other Bank Balances comprise Deposits - for specific purposes and bank deposits which are expected to realise in cash within 12
months after the reporting date.
*Deposits for specific purposes are bank deposites held under lien/earmarked as per courts order and for other specific
purposes, which includes -
i) ₹ 7.41 Cr. deposited against the order of the Hon’ble High Court, Kolkata against a claim from customer which
includes interest of ₹ 2.99 Cr. with corresponding liability in Other Current Liability (Note-20).
ii) ₹ 32.65 Cr. deposited as per order of Hon’ble High Court, Kolkata against 20% extra price charged form parties during the period
Nov. 2006 to April 2008.

206
 NOTE 16 : EQUITY SHARE CAPITAL
(₹ in Crore)
As at As at
31.03.2023 31.03.2022

AUTHORISED
1,10,00,000 Equity Shares of ₹ 1000/- each 1,100.00 1,100.00
(1,10,00,000 Equity Shares of ₹ 1000/- each)
ISSUED, SUBSCRIBED AND PAID UP
94,00,000 Equity Shares of ₹ 1000/- each 940.00 940.00
(94,00,000 Equity Shares of ₹ 1000/- each)
940.00 940.00

1. Out of the above 9399997 Shares are held by the holding company, Coal India Limited (CIL) and balance 3 shares are held by
its nominees.
2. Shares in the company held by each shareholder holding more than 5% Shares


No. of Shares Held (Face % Change during

Name of Shareholder % of TotalShares
value of ₹ 1000 each) the period

Coal India Limited 9399997 100 —

(9399997) (100)

3. Reconciliation of equity shares outstanding at the beginning and at the end of reporting period:
(₹ in Crore)

Particular Number of Share Amount

Balance as on 01.04.2021 94,00,000 940.00
Change during FY 2021-22 — —
Balance as on 31.03.2022 94,00,000 940.00
Change during FY 2022-23 — —
Balance as on 31.03.2023 94,00,000 940.00
4. The Company has only one class of equity shares having a face value ₹ 1000/- per share. The holders of the equity
shares are entitled to receive dividends as declared from time to time and are entitled to voting rights proportionate
to their share holding at the meeting of shareholders.

207
 NOTE 17 : OTHER EQUITY

(₹ in Crore)
Particulars General Reserve Retained OCI Total
Earnings
Balance as at 01.04.2021 2,307.15 4,475.46 (174.08) 6,608.53
Changes in Accounting Policy and Prior Period — — — —
Errors (Net of Tax)
Balance as at 01.04.2021 2,307.15 4,475.46 (174.08) 6,608.53
Additions during the year — — — —
Adjustments during the year — — — —
Profit for the Year — 1,696.92 — 1,696.92
Remeasurement of Defined Benefits Plans (net — — (51.39) (51.39)
of Tax)
Appropriations - -
Transfer to / from General reserve 84.85 (84.85) — —
Interim Dividend — (404.20) — (404.20)
Final Dividend — (377.88) — (377.88)
Corporate Dividend tax — — — —
Balance as at 31.03.2022 2,392.00 5,305.45 (225.47) 7,471.98
Balance as at 01.04.2022 2,392.00 5,305.45 (225.47) 7,471.98
Additions during the year — — — —
Adjustments during the year — (0.09) — (0.09)
Changes in accounting policy or prior period — — — —
errors
Profit for the year — 2,751.67 2,751.67
Reimbursement of Defined Benefit Plan (Net of — — 177.59 177.59
Tax)
Appropriations : - -
Transfer to / from General reserve 137.58 (137.58) — —
Interim Dividend — (600.66) — (600.66)
Final Dividend — (423.00) — (423.00)
Corporate Dividend tax — — — —
Buyback of Equity Shares — — — —
Tax on Buyback — — — —
Balance as at 31.03.2023 2,529.58 6,895.79 (47.88) 9,377.49

Only Retained Earning & General Reserve are available for distribuation as Dividend.

208
 NOTE 18 : BORROWINGS

(₹ in Crore)
As at As at
31.03.2023 31.03.2022

Non-Current
Term Loans — —
Other Loans — —
Total — —
CLASSIFICATION
Secured — —
Unsecured — —
Current
Loans repayable on demand
From Banks
— Bank Overdrafts — —
— Other Loans from Bank — —
From Other Parties — —
Current maturities of long-term borrowings
Total — —
CLASSIFICATION
Secured — —
Unsecured — —

Loan Guaranteed by Directors & Others

Particulars of Loan Amount ( ₹ in Crore) Nature of Guarantee
N.A. NIL NA

209
 NOTE 19 : TRADE PAYABLES
(₹ in Crore)
As at As at
31.03.2023 31.03.2022
Current
Micro, Small and Medium Enterprises 9.88 6.98
Other than Micro, Small and Medium Enterprises 1,305.23 1,554.27
Total 1,315.11 1,561.25
CLASSIFICATION
Secured — —
Unsecured 1,315.11 1,561.25

Trade Payables for Micro, Small and Medium Enterprises

Principal & Interest amount remaining unpaid but not due as at year end NIL NIL
Interest paid by the company in terms of Section 16 of Micro, Small & NIL NIL
Medium Enterprises Development Act, 2006 along with the amount of the
payment made to the supplier beyond the appointed date during the year
Interest Due and payable for the year of delay in making payment (which NIL NIL
has been paid but beyond the appointed day during the year) but without
adding the interest specified under Micro, Small & Medium Enterprises
Development Act, 2006
Interest accrued but remain unpaid as at year end NIL NIL
Further Interest remain due and payable even in the succeeding years, NIL NIL
until such date when interest dues as above are actually paid to the small
enterprises

Trade payables aging schedule as at 31.03.2023

Outstanding for following periods from transaction date

Particulars
Less than 1 More than 3
1-2 years 2-3 years Total
year years

(i) (MSME 9.88 — — — 9.88

(ii) Others 1,043.68 103.98 32.06 49.80 1229.52

(iii) Disputed dues - MSME — — — — —

(iv) Disputed dues - Others — — — 75.71 75.71

(v) Unbilled Dues — — — — —

Total 1,053.56 103.98 32.06 125.51 1,315.11

210
 NOTE 19 : TRADE PAYABLES (Contd...)

Trade payables aging Schedule as at 31.03.2023

Particulars outstanding for following periods from transaction date

Less than1 1-2 years 2-3 years More than3 Total

year years

(i) MSME 6.98 - - - 6.98

(ii) Others 1,339.86 21.70 57.46 53.59 1,472.61

(iii) Disputed dues- MSME - - - - -

(iv) Disputed dues- others - - - 81.66 81.66

(v) Unbilled Dues - - - - -

Total 1,346.84 21.70 57.46 135.25 1,561.25

211
 NOTE 20 : OTHER FINANCIAL LIABILITIES
(₹ in Crore)
As at As at
31.03.2023 31.03.2022

Non-Current
Security Deposits 232.21 124.13
Others - -

Total 232.21 124.13

Current
Current Account with Holding Company - -
Holding Company 12.47 57.66
IICM 0.21 0.21
Unpaid dividends — —
Security Deposits 147.91 231.59
Earnest Money 266.37 56.84
Payable for Capital Expenditure 197.02 177.69
Liability for Employee Benefits 500.49 473.74
Others 90.16 50.59
Total 1,214.63 1,048.32

1. Others above includes unspent CSR expenses (Refer Annexure to Note – 29 CSR Expenses)
2. No amount is due for payment to Investor Education & Protection Fund. Refer note 38(2) for classification

212
 NOTE 21 : PROVISIONS
(₹ in Crore)

As at As at
31.03.2023 31.03.2022
Non-Current
Employee Benefits
Gratuity 64.80 610.99
Leave Encashment 467.86 283.02
Post Retirement Medical Benefits 192.89 214.36
Other Employee Benefits 40.69 40.79
766.24 1,149.16
Other Provisions
Site Restoration/Mine Closure 929.15 982.09
Stripping Activity Adjustment 3,639.59 2,987.40
Others — —
Total 5,334.98 5,118.65
Current
Employee Benefits
Gratuity 207.82 197.13
Leave Encashment 49.77 29.56
Post Retirement Medical Benefits 28.27 25.09
Ex- Gratia 258.44 250.70
Performance Related Pay 268.29 178.07
Other Employee Benefits 1,361.87 153.20
2,174.46 833.75
Other Provisions
Others — —
Total 2,174.46 833.75
Note :
1. Reconciliation of Reclamation of Land/ Site restoration /Mine Closure :
Gross value of site restoration Asset as on 01.04.2022/01.04.2021 489.89 472.49
Add: Unwinding of Provision charged (incl. Capitalised) Upto 01.04.2021/01.04.2020 492.20 451.68
Add: Unwinding of Provision charged (incl. Capitalised) during the Year 75.44 81.77
Less: Mine Closure Provision withdrawn during the Period/Year 128.38 23.85
Mine Closure Provision as on 31.03.2023/31.03.2022 929.15 982.09
2. Provision for Ex-Gratia for Non-Executive has been made based on amount approved for payment for the FY 2021-22 i.e. ₹ 76500/-,
per employee.
3. Pursuant to the guidelines received from Ministry of Coal, Government of India, in connection to Mine Closure Plan, provision for Mine
Closure Expenses is made in the accounts based on the technical assessment of CMPDIL, a subsidiary of Coal India Limited. The liability
for such expenses as estimated by CMPDIL of each mine has been discounted @ 8% (i.e. G-Sec rate) and the same is capitalised to arrive
at the Mine Closure Liability as on first year of making such provision. Thereafter, the provision is re-estimated in subsequent years by
unwinding the discount to arrive at the provision as on 31.03.2023. Deposit in Escrow A/c is ₹1526.83 Cr. (P.Y. ₹ 1,365.00 Crs.) including
interest of ₹ 471.05 Cr. (P.Y. ₹ 408.78 Crs.) against the Mine Closure Provision of ₹ 929.15 Crs. (P.Y. ₹ 982.09 Crs.).
4. Pending Finalisation of the National Coal Wages Agreement (NCWA-XI) for Non-Executives, considering the total impact of the
increase in all elements of salary & wages, an estimated provision of ₹ 1344.58 Crore @ ₹ 19,100/- per employee (Non-Executive)
per month has been recognized for the period from 01.07.2021 to 31.03.2023.
5. In Actuary valuation, salary inflation of 6.25% in the case of non-executives has been considered which is a long-term assumption
considering factors such as annual increment, inflations, promotions, NCWA agreements, and other relevant factors as required in
Ind As 19, Employee benefits.

213
 NOTE 22 : OTHER NON CURRENT LIABILITIES
(₹ in Crore)
As at As at
31.03.2023 31.03.2022
Shifting & Rehabilitation Fund — —
Deferred Income1 452.59 496.58
Others 0.39 0.55
Total 452.98 497.13
1. Deferred Income includes the unabsorbed government grants such as (a) original amount of ₹ 595.82 crore related to
construction of Rail Line/Rail ZCorridor (b) original amount of ₹ 4.29 crore related to widening & strengthening of Road at
NK Area and (c) original amont of ₹ 9.23 crore related to widening & strengthening of Road at Charhi Area.
Deferred income is recognized in the Statement of Profit & Loss on systematic basis over the useful life of asset. The useful
life of rail corridor is 15 years and in case of Road is of 10 years. Considering the useful life of the assets an amount of ₹ 43.99
Crore has been recognized as income in the Statement of Profit and Loss during the year.

NOTE 23 : OTHER CURRENT LIABILITIES

(₹ in Crore)
As at As at
31.03.2023 31.03.2022

Statutory Dues 1,403.37 1,044.70

Advance from customers / others 3,063.62 2,071.44
Other Liabilities — —
Total 4,466.99 3,116.14

NOTE 24 : REVENUE FROM OPERATIONS

(₹ in Crore)
For the Year ended For the Year ended
31.03.2023 31.03.2022
A. Sales 22,720.19 18,585.25
Less : Statutory Levies 7,493.98 6,233.12
Sale (Net) (A) 15,226.21 12,352.13
B. Other Operating Revenue
Loading and transportation charges 735.04 761.90
Less : Statutory Levies 35.00 700.04 36.28 725.62

Evacuation facility Charges 475.60 429.10

Less : Statutory Levies 22.65 452.95 20.43 408.67
Other Operating Revenue (Net) (B) 1,152.99 1,134.29

Revenue from Operations (A+B) 16.379.20 13,486.42

1. Refer point no 6 (p) of Note 38 for Disaggregated Revenue Information.
2. Sale has been increased by estimated Provision withdrawn for Coal Quality Variance & Moisture (net of reversal) for results
awaited from refree/third party sampler amounting to ₹ 354.47 Cr. (P.Y. Provided for ₹ 9.17 Cr.)

214
 NOTE 25 : OTHER INCOME
(₹ in Crore)
For the Year ended For the Year ended
31.03.2023 31.03.2022
Interest Income 226.59 93.99
Dividend Income — 0.01
Other Non-Operating Income
Profit on Sale of Assets 0.02 0.15
Gain on Foreign exchange Transactions — —
Gain on Sale of Mutual Fund 19.90 8.85
Lease Rent 0.38 0.19
Liability / Provision Write Backs 352.32 125.02
Fair Value Changes (Net) 8.41 0.11
Miscellaneous Income 310.61 105.35
Total 918.23 333.66
1. Interest income includes interest on income tax refund ₹ NIL (PY ₹ NIL)
2. Liability written back includes excess liability written back for -

Performance Related Pay 5.80 42.93

Mine Closure Provision 90.57 7.19
Salary & Wages 3.48 28.89
Contractual & Stores liability 208.44 37.02
Others including Statutory Levies 44.03 8.99
TOTAL 352.32 125.02

3. Miscesllaneous income includes-

Inflated Mileage from Tori-Shivpur Rail Corridor 70.20 —

Siding User Charges 26.57 11.97
Bank Guarantee Encashed 34.46 3.76
Forfeiture of SD/EMD 62.21 4.42
Scrap Sale 16.50 2.34
Penalty/LD recovered from Suppliers 14.02 26.12
Others 86.65 56.74
TOTAL 310.61 105.35

4. The Company has recognized income of ₹ 70.20 Crore as inflated Mileage from Trom Tori – Shivpur Rail Corridor
during the current Financial Year.

215
 NOTE 26 : COST OF MATERIALS CONSUMED
(₹ in Crore)
For the Year ended For the Year ended
31.03.2023 31.03.2022
Explosives 441.13 263.94
Timber 0.09 -
Oil & Lubricants 543.21 416.63
HEMM Spares 141.44 130.15
Other Consumable Stores & Spares 44.96 44.43
Total 1,170.83 855.15

NOTE 27: CHANGES IN INVENTORIES OF FINISHED GOODS,

WORK IN PROGRESS AND STOCK IN TRADE

(₹ in Crore)
For the Year ended For the Year ended
31.03.2023 31.03.2022
A. Change in Inventory of Coal
Opening Stock of Coal 881.21 1,163.03
Closing Stock of Coal 965.24 881.21
(84.03) 281.82
B. Change in Inventory of Workshop made finished goods, WIP and
Press Jobs
Opening Stock of Workshop made finished goods, WIP and Press Jobs 4.92 1.96
Closing Stock of Workshop made finished goods, WIP and Press Jobs 2.70 4.92
2.22 (2.96)
Change in Inventory of Stock in trade (A+B) { Decretion / ( Accretion)} (81.81) 278.86

216
 NOTE 28 : EMPLOYEE BENEFIT EXPENSE
(₹ in Crore)

For the Year ended For the Year ended

31.03.2023 31.03.2022
Salary and Wages (incl. Allowances and Bonus etc.) 5,557.91 4,247.07

Contribution to P.F. & Other Funds 1,370.31 1,022.67

Staff welfare Expenses 294.48 206.35

Total 7,222.70 5,476.09

1. Pending Finalisation of the National Coal Wages Agreement (NCWA-XI) for Non- Executives, considering
the total impact of the increase in all elements of salary & wages, an estimated provision of ₹ 1221.28
Crore has been recognized during the year. A refence may be to made to Foot Note-4 Note-21 to the
Financial Statements.

217
 NOTE 29 : CORPORATE SOCIAL RESPONSIBILITY EXPENSES
(₹ in Crore)
For the Year ended For the Year ended
31.03.2023 31.03.2022
CSR Expenses 43.39 53.14
Total 43.39 53.14
CSR Policy framed by Coal India Ltd. Incorporated the features of the Companies Act, 2013 and othe relevant notifications.
The fund for CSR, 2% of the average net profit for the three immediate preceding financial years or ₹ 2.00 per tonne of coal
production of previous year, whichever is higher, comes to ₹ 46.28 Cr. (P.Y. ₹ 50.25 Cr.).
During the financial year 2021-22, the unspent CSR was ₹ 15.30 crore related to ongoing projects. Whereas, an amount of
₹ 18.19 crore was transferred in the unspent CSR bank account opened in the said matter due to oversight. Hence, an excess
amount of ₹ 2.89 crore (i.e. ₹ 18.19 crore less ₹ 15.30 crore) has been transferred to unspent CSR bank account. This has also
resulted in accounting and reporting of excess CSR expenses of ₹ 2.89 crore in previous financial year as ₹ 53.14 crore in
place of ₹ 50.25 crore. The amount of ₹ 50.25 crore has also been reported as 2% mandated CSR expenditure in the Annual
Report for the Fy 2021-22 (Page No.-105 of the Annual Report). As, any amount in excess of the minimum required amount
to be incurred under the provision of Section-135(5) of the Companies Act may be set off in the succeeding financial year,
accordingly, the CSR expenses for the current financial year has been accounted and reported as ₹ 43.39 crore in place of
₹ 46.28 crore after setting off the said excess amount of ₹ 2.89 crore being immaterial in the nature.
A. Activity wise break-up of CSR Expenses (including excess spent) :
Eradicating hunger, poverty and malnutrition 0.31 0.05
Promoting education, including special education and employment enhancing vocation skills 8.09 3.45
Environmental sustainability 0.60 0.63
Benefit of armed forces veterans, war widows and their dependents — —
Training to promote rural sports, nationally recognised sports, paraolympic sports and olympic 5.11 3.84
sports
Contributions to Universities and Research Institutes — —
Rural development projects 2.56 0.40
Slum area development — —
Drinking Water 4.75 3.16
Health care 9.20 11.37
Sanitation 0.74 0.64
Welfare of Differently abled 0.10 0.09
Welfare of senior citizen 0.14 0.23
Others 1.63 0.95
Total 33.23 24.81
Add: Excess amount spent in previous Financial Year utilised in current year — 10.14
Grand Total 33.23 34.95

Reconciliation of CSR Expenses recognised with Activity wise Break up of CSR Expenses spent
Activity wise CSR amount spent 33.23 34.95
Less: Excess CSR Spent — —
Add: Unspent CSR amount on other than ongoing project — —
Add: Unspent CSR amount on ongoing project 10.16 18.19
CSR Expenses recognised during the year 43.39 53.14

218
 NOTE 29 : CORPORATE SOCIAL RESPONSIBILITY EXPENSES (Contd...)
B. CSR Expenditure Break-up
(₹ in Crore)
Particulars In Cash Yet to be paid in cash Total
(a) Amount Required to be spent during the year 43.39
(b) Amount approved by the Board to be spent during the year 43.39
(c ) Amount spent during the year on:

(i) Construction/acquisition of any assets 4.17 2.34 6.51

(ii) On purpose other than (i) above 23.69 3.03 26.72
Total 27.86 5.37 33.23

C. Unspent amount Other than ongoing Project [Section 135(5)]

(₹ in Crore)
Amount
deposited in Amount
Opening Specified Fund required to be Amount spent Closing
Balance of Sch. VII within spent during the during the year Balance
6 months year

Unspent amount Other than — — — — —

ongoing Project

D. Excess amount spent [Section 135(5)]

(₹ in Crore)
Financial Year Amount Required Amount spent
Opening Balance to be spent during Closing Balance
the year during the year

E. Ongoing Project [Section 135(6)]

(₹ in Crore)
Amount spent during
Opening Balance Closing Balance
Amount the year
required From In Separate
Financial to be
Year With In separate From Separate with CSR
spent CSR
Company CSR during Company's Company Unspent
Unspent A/c the year bank A/C Unspent A/C
A/C
2021-22 — 18.19 50.25 34.95 7.04 — 11.15
2022-23 — — 43.39 33.23 — — 10.16

F. Provision for Liability of CSR Expenses

(₹ in Crore)
Addition during Adjustment Closing
Opening Balance
the year during the year Balance
Provision for Liability of CSR Expenses
(included in other Financial Liability Current 25.47 5.37 4.35 26.49
(Others) - Note No. 20)

219
 NOTE 30 : REPAIRS

(₹ in Crore)
For the Year ended For the Year ended
31.03.2023 31.03.2022

Building 146.06 125.12

Plant & Machinery 95.98 143.64
Others 1.06 4.44
Total 243.10 273.20

NOTE 31 : CONTRACTUAL EXPENSES

(₹ in Crore)
For the Year ended For the Year ended
31.03.2023 31.03.2022

Transportation Charges 467.02 522.47

Wagon Loading 40.66 46.41
Hiring of Plant and Equipments 1,319.68 1,208.18
Other Contractual Work 117.68 90.04

Total 1,944.87 1,867.10

NOTE 32 : FINANCE COSTS

(₹ in Crore)

For the Year ended For the Year ended

31.03.2023 31.03.2022

Borrowings — —
Unwinding of discounts 75.44 81.77
Others — —

Total 75.44 81.77

220
 NOTE 33 : PROVISIONS
(₹ in Crore)

For the Year ended For the Year ended

31.03.2023 31.03.2022

Allowance/Provision made for

Doubtful debts 92.13 —
Doubtful Advances & Claims — —
Stores & Spares — 3.41
Others — —
Total 92.13 3.41

Note:
CCL used to supply Washed Medium Coking Coal (WMCC) to M/S SAIL & RINL at the price mutually agreed in MOU
(Memorandum of Undertakings) entered between CCL & SAIL / RINL, duly signed by the representatives of CCL and SAIL
(Steel Authority of India Limited) / RINL (Rashtriya Ispat Nigam Limited, also known as Vizag Steel). The last such MOU
executed was valid for FY 2016-17 i.e. up to 31.03.2017 and the agreed price applicable for FY 2016-17 was ₹ 5,780/- per
tonne.

As per CIL’s (Coal India Limited) direction, CCL notified the price of WMCC considering the doctrine of Import Parity as
envisaged by New Coal Distribution Policy (NCDP) of the Government. The notified price for the WMCC for Q1 & Q2 of
FY 2017-18 was ₹ 9,000/- per tonne, Q3 of FY 2017-18 ₹ 8,146/- per tonne and Q4 of FY 2017-18 & Q1 & Q2 of FY 2018-
19 as ₹ 8,315/- per tonne. However, both SAIL and RINL had raised their concerns in the said matter i.e. unilateral price
revision as against agreed price mechanism. Thereafter, several letters including discussions have been exchanged, but
no consensus has been agreed in the said matter.

However, a mutually agreed ad-hoc price @ ₹ 6,500/- per tonne has been implemented w.e.f. 28.07.2018 after several
round of persuasion in the said matter and further agreed to implement pricing on import parity price mechanism on
the recommendation of an independent agency. During the period from 01.04.2017 to 27.07.2018, the CCL continued
to raise invoices as per the applicable notified price, whereas, SAIL / RINL as continued to settled the claim as per the last
agreed price of FY 2016-17.

The difference between notified price and settled payment from 01.04.2017 to 27.07.2018 is ₹ 324.72 Crore against
which a provision of ₹ 232.59 Crore already exist. Accordingly, the company has made an additional provision of ₹ 92.13
Crore.

221
 NOTE 34 : WRITE OFF (Net of Provisions)
(₹ in Crore)
For the Year ended For the Year ended
31.03.2023 31.03.2022

debts (Trade Recceivable) 191.90 —

Less :- Provided earlier — —
191.90 —
Doubtful advances — 0.03
Less :- Provided earlier — —
— 0.03
Total 191.90 0.03

Note:
CCL used to supply Washed Medium Coking Coal (WMCC) to M/S SAIL & RINL at the price mutually agreed in MOU
(Memorandum of Undertakings) entered between CCL & SAIL / RINL, duly signed by the representatives of CCL and SAIL
(Steel Authority of India Limited) / RINL (Rashtriya Ispat Nigam Limited, also known as Vizag Steel). The last such MOU
executed was valid for FY 2016-17 i.e. up to 31.03.2017 and the agreed price applicable for FY 2016-17 was ₹ 5,780/- per
tonne.

As per CIL’s (Coal India Limited) direction, CCL notified the price of WMCC as ₹ 11,500 per tonne with effect from
14/01/2017 considering the doctrine of Import Parity as envisaged by New Coal Distribution Policy (NCDP) of the
Government. However, both SAIL and RINL had raised their concerns in the said matter of unilateral revised price matter
as the agreed MOU was valid up to 31.03.2017.

Thereafter, several letters including discussions have been exchanged, but no consensus has been agreed in the said
matter. In one of the recent joint meeting between the officials of SAIL and CCL, it has been agreed to revisit the new
pricing methodology which is further subject to withdrawal of unilateral WMCC claim raised by the CCL in the said
matter. As there is no reasonable expectation of recovering of the said financial asset (i.e. trade receivables) for the
period 14.01.2017 to 31.03.2017 on account of agreed MOU terms and conditions, hence, an amount of ₹ 191.90 crore
representation unilateral WMCC price revision claim, which was previously recognised as ‘revenue from operations’ has
been recognised as bad-debts and written off as irrecoverable.

222
 NOTE 35 : OTHER EXPENSES
(₹ in Crore)
For the Year ended For the Year ended
31.03.2023 31.03.2022

Travelling expenses 57.18 17.92

Training Expenses 9.03 13.24
Telephone & Internet 16.72 14.43
Advertisement & Publicity 2.20 1.89
Freight Charges — —
Demurrage 31.85 39.29
Security Expenses 278.48 315.98
Service Charges of CIL 152.07 137.70
Consultancy Charges to CMPDIL 76.45 93.59
Legal Expenses 2.16 1.61
Consultancy Charges 0.53 1.88
Under Loading Charges 81.84 150.73
Loss on Sale/Discard/Surveyed of Assets 0.04 -
Auditor’s Remuneration & Expenses
For Audit Fees 0.29 0.29
For Taxation Matters — —
For Other Services 0.30 0.40
For Reimbursement of Exps. 0.09 0.11
Internal & Other Audit Expenses 3.27 3.30
Rehabilitation Charges 44.99 43.12
Lease Rent & Hire Charges 72.08 73.06
Rates & Taxes 21.42 151.68
Insurance 0.80 0.94
Loss on Exchange rate variance — -
Other Rescue/Safety Expenses 1.14 2.10
Siding Maintenance Charges 25.09 18.55
R & D expenses — 0.20
Environmental & Tree Plantation Expenses 19.38 9.94
Donation, Rewards & Grant 0.07 —
Expenses on Buyback of shares —
Miscellaneous expenses 152.78 110.34
Total 1,050.25 1,202.29

1. Rehabilitation Charges as per the directives of Ministry of Coal, ₹ 45.02 Cr. (P.Y. ₹ 43.12 Cr.) is debited on the basis of
₹ 6 per tonne of coal despatch.
2. Service Charges amounting to ₹ 152.18 Cr. (P.Y. ₹ 137.70 Cr.) levied by CIL, the Holding Company @ ₹ 20 per tonne of coal produced
towards rendering various services like procurement, marketing, Corporate Service etc. based on debit memo received from
CIL.

223
 NOTE 36 : TAX EXPENSE
(₹ in Crore)
For the Year ended For the Year ended
31.03.2023 31.03.2022

Current Year 817.43 403.14

Deferred tax 174.51 (5.33)
Earlier Years — —
Total 991.94 397.81

Reconciliation of Tax Expenses and Accounting profit multiplied by India’s domestic Tax rate
Profit before Tax 3,743.61 2,094.73
Tax using the Company's domestic tax rate 942.19 527.20
Tax effect of:
Tax-exempt Income — —
Additional expenses allowed for tax purposes — —
Non-deductable Tax Expenses (124.76) (124.06)
Adjustment for earlier year — —
Deferred Tax 174.51 (5.33)
Income Tax Expenses reported in Statement of Profit & Loss 991.94 397.81
Effective Income Tax Rate 26.50% 18.99%

Deferred Tax Assets/ (Liability)

Deferred Tax Assets:
Provision for Doubtful Advances, Claims & Debts 148.93 215.65
Provision for Employee Benefits 431.26. 501.37
Others (Includes Taxable Losses) 145.35 131.88
Total Deferred Tax Assets (A) 725.54 848.90

Deferred Tax Liability:

Related to Fixed Assets 220.58 169.43
Others — —
Total Deferred Tax Liability (B) 220.58 169.43
Net (C=A-B) 504.96 679.47
Reimbursement of Defined benefit Plan (D) — —
Net Deferred Tax Assets/ (Deferred Tax Liability) (C+D) 504.96 679.47

224
 NOTE 37 : OTHER COMPREHENSIVE INCOME

(₹ in Crore)
For the Year ended For the Year ended
31.03.2023 31.03.2022
(A) Items that will not be reclassified to profit or loss
Remeasurement of defined benefit plans 237.32 (68.68)
Total (A) 237.32 (68.68)

(B) Income tax relating to items that will not be reclassified to profit or loss
Remeasurement of defined benefit plans 59.73 (17.29)
Total (B) 59.73 (17.29)
Total [C = A – B] 177.59 (51.39)

Income tax on remeasurement of defined benefit plans includes current tax ₹ 59.73 Cr. for the year ended 31.03.2023
(for the year ended 31.03.2022 ₹ (17.29) Cr. and/or Deferred tax ₹ NIL for the year ended 31.03.2023 (for the year ended
31.03.2022 ₹ NIL)

225
 NOTE 38 : ADDITIONAL NOTE TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023 (STANDALONE)
1. FAIR VALUE MEASUREMENT
(a) Financial Instruments by Category
(₹ in Crore)
31st March 2023 31st March 2022
FVTPL Amortised FVTPL Amortised
cost cost
Financial Assets
Investments* : — — — —
Preference Shares
– Equity Component — — — —

– Debt Component — — — —
Mutual Fund/ICD 818.59 — 64.72 —
Other Investments — — — —
Loans — 5.81 — 2.06
Deposits & receivable — 1801.86 — 1469.35
Trade receivables — 3001.17 — 2149.65
Cash & cash equivalents — 850.64 — 664.91
Other Bank Balances — 2533.87 — 1413.04
Financial Liabilities
Borrowings — — — —
Trade payables — 1,315.11 — 1561.25
Security Deposit and Earnest money — 646.49 — 412.56
Other Liabilities — 800.35 — 759.89

* Investment in Equity Shares in Subsidiary, not included above is measured at cost which stands at ₹ 345.53 Crore as on
31.03.2023 (P.Y. ₹ 345.53 Crore).

(b) Fair value hierarchy

Table below shows judgments and estimates made in determining the fair values of the financial instruments that are
(a) recognized and measured at fair value and (b) measured at amortized cost and for which fair values are disclosed in
the financial statements. To provide an indication about the reliability of the inputs usedin determining fair value, the
company has classified its financial instruments into the three levels prescribed under the accounting standard.

226
 (₹ in Crore)
31st March 2023 31st March 2022
Financial assets and liabilities measured at fair value
Level Level 3 Level Level
1 1 3
Financial Assets at FVTPL
Investments :
Mutual Fund/ICD — — — —
Financial Liabilities
If any item — — — —

Financial assets and liabilities measured at amortised cost for 31st March 2023 31st March 2022
which fair values are disclosed at 31st March, 2023 Level 1 Level 3 Level 1 Level 3
Financial Assets
Investments:

Preference Shares

– Equity Component — — — —

– Debt Component — — — —

Mutual Fund/ICD 818.59 — 64.72 —

Other Investments — 345.53 — 345.53

Loans — 5.81 — 2.06

Deposits & receivable — 1,801.86 — 1,469.35

Trade receivables — 3,001.17 — 2,149.65

Cash & cash equivalents — 850.64 — 664.91
Other Bank Balances — 2,533.87 — 1,413.04
Financial Liabilities

Borrowings — — — —
Trade payables — 1,315.11 — 1,561.25
Security Deposit and Earnest money — 646.49 — 412.56
Other Liabilities — 800.35 — 759.89

227
A brief of each level is given below.
Level 1 : Level 1 hierarchy includes financial instruments measured using quoted prices. This includes Mutual fund which
is valued using closing Net Asset Value (NAV) as at the reporting date.
Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation
techniques which maximize the use of observable market data and rely as little as possible on entity- specific estimates.
If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.
Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in
level 3. This is the case for unlisted equity securities, preference shares borrowings, security deposits and other liabilities
taken.
(c) Valuation technique used in determining fair value
Valuation techniques used to value financial instruments include the use of quoted market prices(NAV) of instruments
in respect of investment in Mutual Funds.
(d) Fair value measurements using significant unobservable inputs
At present there are no fair value measurements using significant unobservable inputs.
(e) Fair values of financial assets and liabilities measured at amortised cost
o The carrying amounts of trade receivables, short term deposits, cash and cash equivalents, trade payables are
considered to be the same as their fair values, due to their short-term nature.
o The Company considers that the Security Deposits does not include a significant financing component. The security
deposits coincide with the company’s performance and the contract requires amounts to be retained for reasons
other than the provision of finance. The withholding of a specified percentage of each milestone payment is
intended to protect the interest of the company, from the contractor failing to adequately complete its obligations
under the contract. Accordingly, transaction cost of Security deposit is considered as fair value at initial recognition
and subsequently measured at amortised cost.
Significant estimates: The fair value of financial instruments that are not traded in an active market is determined using
valuation techniques. The Company uses its judgment to select a method and makes suitable assumptions at the end of
each reporting period.
2. FINANCIAL RISK MANAGEMENT
Financial Risk Management Objectives and Policies
The Company’s principal financial liabilities comprise trade and other payables. The main purpose of these financial
liabilities is to finance the Company’s operations and to provide guarantees to support its operations. The Company’s
principal financial assets include loans, trade and other receivables, and cash and cash equivalents that is derived directly
from its operations.
The Company is exposed to market risk, credit risk and liquidity risk. The Company’s senior management oversees the
management of these risks. The Company’s senior management is supported by a risk committee that advises, inter alia,
on financial risks and the appropriate financial risk governance framework for the Company. The risk committee provides
assurance to the Board of Directors that the Company’s financial risk activities are governed by appropriate policies and
procedures and that financial risks are identified, measured and managed in accordance with the Company’s policies
and risk objectives. The Board of Directors reviews and agrees to policies for managing each of these risks, which are
summarized below.

228
This note explains the sources of risk which the entity is exposed to and how the entity manages the risk and the impact
of hedge accounting in the financial statements.

Risk Exposure arising from Measurement Management

Cash and Cash equivalents, Department of Public
trade receivables financial Ageing analysis/ Credit enterprises (DPE)
Credit Risk asset measured at rating guidelines, diversification
amortised cost of bank deposits credit
limits and other securities
Borrowings and other Availability of committed
Liquidity Risk liabilities Periodic cash flows credit lines and borrowing
facilities
Future commercial
transactions, recognised Cash flow forecast Regular watch and review
M ark et Risk - foreign
financial assets and sensitivity analysis by senior management
exchange
liabilities not denominated and audit committee.
in INR
Department of public en-
Cash and Cash equivalents, Cash flow forecast terprises (DPE) guide- lines,
Market Risk-interest rate Bank deposits and mutual sensitivity analysis Regular watch and review
funds by senior manage- ment
and audit committee.

The Company's risk management is carried out by the Board of Directors as per DPE guidelines issued by Government
of India. The Board provides written principles for overall risk management as well as policies covering investment of
excess liquidity.

A. Credit Risk :

Credit risk management :

Receivables arise mainly out of sale of Coal. Sale of Coal is broadly categorized as sale through fuel supply agreements
(FSAs) and e-auction.
Macro - economic information (such as regulatory changes) is incorporated as part of the fuel supply agreements (FSAs)
and e-auction terms.

Fuel Supply Agreements (FSAs)

As contemplated in and in accordance with the terms of the New Coal Distribution Policy (NCDP), the company enters
into legally enforceable FSAs with customers or with State Nominated Agencies that in turn enters into appropriate
distribution arrangements with end customers. Our FSAs can be broadly categorized into:

o FSAs with customers in the power utilities sector, including State power utilities, private power utilities (“PPUs”) and
independent power producers (“IPPs”);
o FSAs with customers in non-power industries (including captive power plants (“CPPs”); and
o FSAs with State Nominated Agencies.

229
E-Auction Scheme

The E-Auction scheme of coal has been introduced to provide access to coal for customers who were not able to source
their coal requirement through the available institutional mechanisms under the NCDP for various reasons, for example,
a less than full allocation of their normative requirement under NCDP, seasonality of their coal requirement and limited
requirement of coal that does not warrant a long-term linkage. The quantity of coal to be offered under E-Auction is
reviewed from time to time by the Ministry of Coal.
Provision For Expected Credit Loss : The Company provides for expected credit risk loss for doubtful/ credit impaired
assets, by lifetime expected credit losses (Simplified approach).
Expected Credit losses for trade receivables under simplified approach:
As on 31.03.2023
(₹ in Crore)
Due for
Due for 2 Due for 6 Due for 1 Due for 2 Due for 3
more than3
Ageing months months year years years Total
years
Gross Carrying Amount 860.79 1055.96 286.48 836.99 9.01 509.84 3,559.07

Expected Loss rate (%) 4.14 3.43 17.40 0.48 63.82 100* 15.68

Expected Credit Loss allowance – Doubtful — — — — — 380.39 380.39

debts

- Grade variance 35.65 36.26 49.84 4.04 5.75 45.98 177.52

As on 31.03.2022
(₹ in Crore)
Due for 2 Due for 6 Due for 1 Due for2 Due for 3 Due for
Ageing months months year years years more than3 Total
years
Gross Carrying Amount 474.62 416.39 352.96 963.37 274.31 515.23 2996.88
Expected Loss rate (%) (0.14) (0.11) 0.51 15.25 21.7 100* 27.62
Expected Credit Loss allowance – Doubtful — — — — 288.26 288.26
—
debts
– Grade variance (0.68) (0.46) 1.80 142.80 59.53 329.00 531.99

* includes Provision against customers with advances

Reconciliation of loss allowance provision – Trade receivables

(₹ in Crore)
Particulars Bad & Doubtful Quality
Debts Variance
Loss allowance on 01.04.2022 288.26 531.99

Change in loss allowance during the year 92.13 (354.47)

Loss allowance on 31.03.2022 380.39 177.52

230
Significant estimates and judgments for Impairment of financial assets
The impairment provisions for financial assets disclosed above are based on assumptions about risk of default
and expected loss rates. The Company uses judgment in making these assumptions and selecting the inputs to the
impairment calculation, based on the Company’s past history, existing market conditions as well as forward looking
estimates at the end of each reporting period.
B. Liquidity Risk
Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of
funding through an adequate amount of committed credit facilities to meet obligations when due. Due to the dynamic
nature of the underlying businesses, Company treasury maintains flexibility in funding by maintaining availability under
committed credit lines.
Management monitors forecasts of the Company’s liquidity position (comprising the undrawn borrowing facilities) and
cash and cash equivalents on the basis of expected cash flows. This is generally carried out at local level in accordance
with practice and limits set by the Group. The bank borrowings has been secured by creating charge against stock of
coal, stores and spare parts and book debts of CILand its Subsidiary Companies within consortium of banks. The total
working capital credit limit available to CIL is ₹ 430.00 crore, of which fund based limit is ₹ 140.00 Crore and non-fund
based limit is ₹ 290.00 crore. Further, ₹ 5000.00 crore was set up as non-fund based limit outside consortium in, order to
facilitate import of HEMM. Coal India Limited is contingently liable to the extent such facility is actually utilised by the
Subsidiary Companies.
C. Market Risk
(a) Foreign currency risk
Foreign currency risk arises from future commercial transactions and recognized assets or liabilities denominated in a
currency that is not the Company’s functional currency (INR). The Company is exposed to foreign exchange risk arising
from foreign currency transactions. Foreign exchange risk in respect of foreign operation is considered to be insignificant.
The Company also imports and risk is managed by regular follow up. Company has a policy which is implemented when
foreign currency risk becomes significant.
(b) Cash flow and fair value interest rate risk
The Company’s main interest rate risk arises from bank deposits. Change in interest rate exposes the Company to cash
flow interest rate risk. Company policy is to maintain most of its deposits at fixed rate.
Company manages the risk using guidelines from Department of public enterprises (DPE), diversification of bank
deposits credit limits and other securities.
Capital Management
The company being a government entity manages its capital as per the guidelines of Department of investment and
public asset management under Ministry of Finance.

Capital Structure of the company is as follows :

(₹ in Crore)
Particulars 31.03.2023 31.03.2022

Equity Share capital 940.00 940.00

Long term debt — —

231
3. EMPLOYEE BENEFITS: RECOGNITION AND MEASUREMENT (Ind AS-19)

3.1 Defined Benefit Plans:

(a) Gratuity

The Company provides for gratuity, a post-employment defined benefit plan (“the Gratuity Scheme”) covering the
eligible employees. The Gratuity Scheme is fully funded through trust maintained with Life Insurance Corporation
of India, wherein employer contribution is 2.01% of basic salary and Dearness allowances. Every employee who has
rendered continuous service of more than 5 years or more is entitled to receive gratuity amount equal to 15 days salary
for each completed years of service computed as (15 days/26 days in a month* last drawn salary and dearness allowance*
completed years of service) subject to maximum of ₹ 0.20 crores at the time of separation from the company considering
the provisions of the Payment of Gratuity Act 1972 as amended. The liability or asset recognised in the balance sheet in
respect of the Gratuity Scheme is the present value of the defined benefit obligation at the end of the reporting period
less the fair value of plan assets. The defined benefit obligation is calculated at each reporting date by actuary using
the projected unit credit method. Re- measurement gains and losses arising from experience adjustments and changes
in actuarial assumptions are recognised in the year in which they occur, directly in other comprehensive income (OCI).

b) Post-Retirement Medical Benefit – Executive (CPRMSE)

Company has post-retirement medical benefit scheme known as Contributory Post Retirement Medicare Scheme for
Executive of CIL and its Subsidiaries (CPRMSE), to provide medical care to the executives and their spouses in Company
hospital/empaneled hospitals or outpatient/Domiciliary only in India subject to ceiling limit, on account of retirement on
attaining the age of superannuation or are separated by the Company on medical ground or retirement under Voluntary
Retirement Scheme under common coal cadre or Voluntary Retirement Scheme formulated and made applicable from
time to time. Membership is not extended to the executives who resigns from the services of the CIL and its subsidiaries.
The maximum amount reimbursable during the entire life for the retired executives and spouse taken together jointly or
severally is ₹ 25 lakhs except for specified diseases with no upper limit. The Scheme is funded through trust maintained
by the CIL at group level solely for this purpose, wherein employer contribution is 2% of basic salary and Dearness
Allowance per month. The liability for the scheme is recognised based on actuarial valuation done at each reporting
date.

3.2 Defined Contribution Plans

i) Provident Fund and Pension

Company pays fixed contribution towards Provident Fund and Pension Fund at pre-determined rates based on a fixed
percentage of the eligible employee’s salary i.e. 12% and 7% of Basic salary and Dearness Allowance towards Provident
Fund and Pension Fund respectively to a separate trust named Coal Mines Provident Fund (CMPF). The contribution
towards the fund during the period ended 31.03.2023 is ₹ 686.31 Crore (P.Y. ₹ 622.98 Crore) has been recognized in the
Statement of Profit & Loss (Note 28).

ii) Post-Retirement Medical Benefit – Non- Executive (CPRMSE-NE)

As a part of social security scheme under wage agreement, Company is providing Contributory Post - Retirement
Medicare Scheme for non-executives (CPRMSE-NE), wherein fixed amount is being contributed by the company and
charged to statement of profit and loss.

232
iii) CIL Executive Defined Contribution Pension Scheme (NPS)

The company provides a post-employment contributory pension scheme to the executives of the Company known as
“CIL Executive Defined Contribution Pension Scheme -2007” (NPS). NPS is being administered through separate trust at
group level solely formed for the purpose. The obligation of the Company is to contribute to the trust to the extent of
amount not exceeding 30% of basic pay and dearness allowance less employer’s contribution towards provident fund,
gratuity, post-retirement medical benefits -Executive i.e. CPRMSE or any other retirement benefits. The current employer
contribution of 6.99% of basic and Dearness Allowance is being charged to statement of profit and loss.

3.3 Other Long Term Employee Benefits

i) Leave encashment

The company provides benefit of total Earned Leave (EL) of 30 days and Half Paid Leave (HPL) of 20 days to the employees
of the company, accrued and credited proportionately on half yearly basis on the first day of January and July of every
year. During the service, 75% EL credited balance is one time encashable in each calendar year subject to ceiling of
maximum 60 days EL encashment. Accumulated HPL is not permitted for encashment during the period of service.
On superannuation, EL and HPL together is considered for encashment subject to the overall limit of 300 days without
commutation of HPL. Therefore, the liabilities for earned leave are expected to be settled during the service as well as
after the retirement of employee. They are therefore measured as the present value of expected future payments to
be made in respect of services provided by employees up to the end of the reporting period using the projected unit
credit method. The benefits are discounted using the market yields at the end of the reporting period that have terms
approximating to the terms of the related obligation. The Scheme is fully funded through trust maintained with Life
Insurance Corporation of India.

ii) Life Cover Scheme (LCS)

As a part of social security scheme under wage agreement, the Company has Life Cover Scheme under Deposit Linked
Insurance Scheme, 1976 notified by the Ministry of Labour, Government of India, known as “Life Cover Scheme of Coal
India Limited” (LCS). An amount of ₹ 1,25,000 is paid under the scheme w.e.f 01.10.2017. The cost under the scheme is
borne by the Company.

iii) Settlement Allowances

As a part of wage agreement, a lump sum amount of ₹ 12000/- is paid to all the non-executive cadre employees governed
under NCWA on their superannuation on or after 31.10.2010 as settling-in allowance. The liability for the scheme is
recognised based on actuarial valuation at each Balance Sheet date.

iv) Group Personal Accident Insurance (GPAIS)

Company has taken group insurance scheme from United India Insurance Company Limited to cover the executives of
the company against personal accident known as “Coal India Executives Group Personal Accident Insurance Scheme”
(GPAIS). GPAIS covers all types of accident on 24 hour basis worldwide. Premium for the scheme is borne by the Company.
v) Leave Travel Concession (LTC)
As a part of wage agreement, Non-executive employees are entitled to travel assistance for visiting their home town and
for “Bharat Bhraman” once in a block of 4 years. A lump sum amount of ₹ 8000/- and ₹ 12000/- is paid for visiting Home
town and “Bharat Bhraman”, respectively. The liability for the scheme is recognised based on actuarial valuation at each
Balance Sheet date.

233
vi) Compensation to Dependent on Mine Accident Benefits
As a part of social security scheme under wage agreement, the company provides the benefits admissible under The
Employee’s Compensation Act, 1923. An amount of ₹ 15 lakhs is paid to the next of kin of an employee in case of a fatal
mine accident w.e.f 07.11.2019. The expected cost of te benefits is recognized when an evnt occurs that causes the
benefit payable under the scheme.

vii) Funding status of defined benefit plans, defined contribution plans and other long term employee
benefits plans, are as under:

FUNDED UNFUNDED
o Gratuity o Life Cover Scheme
o Leave Encashment o Settlement Allowance
o Medical Benefits o Group Personal Accident Insurance
o Provident Fund o Leave Travel Concession
o Pension Schemes o Compensation to dependent on Mine Accident
Benefits

viii) Total liability as on 31.03.2023 based on valuation made by the Actuary is ₹ 4156.18 Crore, details
of which are mentioned below:
(₹ in Crore)
Opening Actuarial Incremental Liability / Closing Actuarial
Particulars Liability Adjustment Liability
as on 01.04.2022 during the Year as on 31.03.2023
Gratuity 2,796.73 (81.48) 2,715.25

Leave 527.83 257.69 785.52

Settlement Allowance Executives 11.84 (1.28) 10.56

Settlement Allowance- Non-exe. 12.22 (0.42) 11.8

Leave Travel Concession 34.42 1.22 35.64

Medical Benefits Executives 225.94 9.92 235.86

Medical Benefits Non-Executives 371.63 (10.08) 361.55

Total 3,980.61 175.57 4,156.18

3.4 Disclosure as per Actuary’s Certificate

The disclosures as per actuary’s certificate for employee benefits for Gratuity (funded), Leave Encashment (funded) &
PRMB (funded) are given below :

234
3.4.1 Acturial Valuation of Gratuity Liability as at 31.03.2023 Certificates as per IND AS 19 (2015)

TABLE 1
Disclosure of Defined Benefit Cost for the Year ending 31st March 2023
(₹ in Crore)

One year Period ending One year Period ending

A Profit & Loss (P&L) 31st March 2022 31st March 2023
1 Current Service Cost 135.70 64.03
2 Past Service Cost-Plan amendments — —

3 Curtailment Cost/(Credit) — —
4 Settlement Cost/(Credit) — —
5 Service Cost 135.05 64.03
6 Net interest on net defined benefit liability/ (asset) 57.61 39.97
7 Immediate recognition of (gains)/losses-other long term — —
employee benefit plans
8 Cost recognized in P&L 193.31 103.99
B Other Comprehensive Income (OCI)
1 Actuarial (gain)/loss due to DBO experience 99.67 (75.04)
2 Actuarial (gain)/loss due to DBO assumption changes 10.51 (99.82)
3 Actuarial (gain)/loss arising during period 110.18 (174.86)
4 Return on plan assets (greater)/less than discount rate (6.39) (23.85)
5 Actuarial (gain)/loss recognized in OCI 103.79 (198.71)
C Defined Benefit Cost
1 Service cost 135.70 64.03
2 Net interest on net defined benefit liability /(asset) 57.61 39.97
3 Actuarial (gains)/loss recognized in OCI 103.79 (198.71)
4 Immediate recognition of (gains)/losses-other long term — —
employee benefit plans
5 Defined Benefit Cost 297.10 (94.71)
D Assumption as at 31st March 2022 31st March 2023
1 Discount Rate 6.85% 6.80%

2 Rate of salary increase Executive 9% Executive 9%

Non-Executive 6.25% Non-Executive 6.25%

235
 TABLE 2
Net Balance Sheet position as at 31st March 2023
(₹ in Crore)

One year ending One year ending

A Development of Net Balance Sheet Position
31st March 2022 31st March 2023
1 Defined Benefit Obligation (DBO) (2796.73) (2715.25)
2 Fair value of plan assets (FVA) 1,988.60 2,442.63
3 Funded status [surplus/(deficit)] (808.12) (272.62)
4 Effect of Asset ceiling — —
5 Net defined benefit asset/(liability) (808.12) (272.62)
B Reconciliation of Net Balance Sheet Position
1 Net defined benefit asset/(liability) at your end of prior period (1,171.11) 808.12)
2 Service cost (135.70) (64.03)
3 Net interest on net defined benefit liability/(asset) (57.61) (39.97)
4 Amount recognized in OCI (103.79) 198.71
5 Employer contributions 471.07 440.79
6 Benefit paid directly by the Company 18.01 -
7 Acquisitions credit/(cost) - -
8 Divestitures - -
9 Cost of termination benefits - -
10 Net defined benefit asset/(liability) at end of current period (808.12) (272.62)
C Assumptions as at 31st March 31st March 2023
2022
1 Discount Rate 6.80% 7.30%
2 Rate of salary increase Executives Executive 9% Executive 9%
Non-Executive Non-Executive
6.25% 6.25%

TABLE 3
Changes in Benefit Obligations and Assets over the year ending 31st March 2023
(₹ in Crore)

One year ending One year ending

A Changes in Defined Benefit Obligations (DBO)
31st March 2022 31st March 2023
1 DBO at end of prior period 2,757.22 2,796.73
2 Current service cost 135.70 64.03
3 Interest cost on the DBO 175.78 184.89
4 Curtailment (credit)/cost — —
5 Settlement (credit)/cost — —
6 Past service cast-plan amendments — —
7 Acquistions (credit)/cost — —
8 Actuarial (gain)/loss- experience 99.67 (75.04)
9 Actuarial (gain)/loss- demographic assumptions — —
10 Actuarial (gain)/loss- financial assumptions 10.50 (99.82)
11 Benefits paid directly by the Company (189.01) —

236
 12 Benefits paid from plan assets (193.14) (155.54)
13 DBO at end of current period 2,796.73 2715.25
B Change in fair Value of Assets
1 Fair value of assets at end of prior period 1586.11 1,988.60
2 Acquistion adjustment — —
3 Interest income on plan assets 118.17 144.92
4 Employer contributions 471.07 440.799
5 Return on plan assets greater/(lesser) than discount rate 6.39 23.85
6 Benefits paid (193.14) (155.54)
7 Fair Value of assets at the end of current period 1988.60 2442.63

TABLE 4
Additional Disclosure Information

A Expected benefit payments for the year ending

1 March 31, 2024 215.27
2 March 31, 2025 222.08
3 March 31, 2026 255.51
4 March 31, 2027 304.84
5 March 31, 2028 297.00
6 March 31, 2029 to March 31, 2033 1,502.44
7 Beyond 10 years 2572.73
B Expected employer contribution for the period ending 31 March, 2024 54.73
C Weighted average duration of defined benefit obligation 8 years
D Accrued Benefit Obligation at 31 March 2023 2116.55
E Plan Asset Information as at 31 March 2023 Percentage
1 Government of India Securities (Central and State) 0.00%
2 High quality corporate bonds (including Public Sector Bonds) 0.00%
3 Equity shares of listed companies 0.00%
4 Property 0.00%
5 Cash (including Special Deposits) 0.00%
6 Schemes of insurance- conventional products 100.00%
7 Schems of insurance-ULIP products 0.00%
8 Other 0.00%
Total 100.00%
F Current and Non-Current Liability Breakup as at 31 March 2023
st

Total
1 Current Liability 207.82
2 Non-Current Asset/(Liability) 2,507.43
3 Liability as at 31 March 2023 2,715.25

Note: This report provides basic information in relation to plan assets. Additional input may be required by the
Company in relation to the plan asset disclosures specified in paragraphs 142, 143 of Ind AS 19.

237
 TABLE 5
Sensitivity Analysis

DBO on base assumptions as at 31 March 2023 2,715.25

These assumptions are summarized in Appendix C of the report

A Discount Rate as at 31 March 2023 7.30%
1 Effect on DBO due to 0.5% increase in Discount rate (93.42)
Percentage Impact -3%
2 Effect on DBO due to 0.5% decrease in Discount rate 99.82
Percentage Impact 4%
B Salary Escalation rate as at 31 March 2023 Executive 9%
Non-Executive 6.25%
1 Effect on DBO due to 0.5% increase in Discount Rate 34.74
Percentage Impact 1%
2 Effect on DBO due to 0.5% decrease in Discount Rate (36.46)
Percentage Impact -1%

Summary of Membership Data

Below is a summary of the active members of the plan:

Executives 31st March 31st March
2022 2023
1 Number of Employees 2,257 2,244
2 Total monthly salary (INR) 30.08 31.09
3 Total annual Salary (INR) 360.92 374.32
4 Average annual Salary (INR) 0.16 0.17
5 Average attained age (years) 42.39 41.85
6 Average past service (years) 15.57 14.62

Non-Executives
1 Number of Employees 33,403 32,482
2 Total monthly salary (INR) 222.38 230.56
3 Total annual Salary (INR) 2,688.57 2.766.75
4 Average annual Salary (INR) 0.08 0.09
5 Average attained age (years) 45.34 45.52
6 Average past service (years) 20.74 20.85
Note: Executives include KMP employees
Assumption
The actuarial assumptions (deographic & financial) employed for the calculations as at 31 March 2022 and 31 March 2023
are as follows:

238
 Assumptions 31st March 2022 31st March 2023
Discount Rate 6.80% 7.30%
Salary Escalation rate Executive 9% Executive 9%
Non-Executive 6.25% Non-Executive 6.25%
Withdrawal Rate 0.30% 0.30%
Mortality Rate Indian Assured Lives Indian Assured Lives
Mortality (2006-08) Mortality (2006-08)
Ultimate Ultimate

Specimen Mortality rates

Age Rates Age Rates

20 0.000888 45 0.002874
25 0.000984 50 0.004946
30 0.001056 55 0.007888
35 0.001282 60 0.011534
40 0.001803 65 0.017009

3.4.2 Acturial Valuation of Leave Encashment Benefit (EL/HPL) as at 31.03.2023 Certificates as per IND AS 19
(2015)
TABLE 1
Disclosure of Defined Benefit Cost for the One Year period ending 31st March 2023
(₹ in Crore)
One year ending 31 st
One year ending 31st
A Profit & Loss (P&L)
March 2022 March 2023
1 Current Service Cost 88.13 139.19
2 Past Service Cost-Plan amendments — —
3 Curtailment Cost/(Credit) — —
4 Settlement Cost/(Credit) — —
5 Service Cost 88.13 139.19
6 Net interest on net defined benefit liability/ (asset) 21.90 17.18
7 Immediate recognition of (gains)/losses-other long term 21.89 16.87
employee benefit plans
8 Cost recognized in P&L 131.91 325.06
B Other Comprehensive Income (OCI)
1 Actuarial (gain)/loss due to DBO experience 17.32 211.74
2 Actuarial (gain)/loss due to DBO assumption changes 2.56 (39.26)
3 Actuarial (gain)/loss arising during period 19.88 172.48
4 Return on plan assets (greater)/less than discount rate 2.00 (3.79)
5 Actuarial (gain)/loss recognized in OCI — —
C Defined Benefit Cost
1 Service cost 88.13 139.19

239
2 Net interest on net defined benefit liability /(asset) 21.90 17.18
3 Actuarial (gains)/loss recognized in OCI — —
4 Immediate recognition of (gains)/losses-other long term 21.89 168.70
employee benefit plans
5 Defined Benefit Cost 131.91 325.06
D Assumption as at 31st March 2022 31st March 2023
1 Discount Rate 6.80% 6.80%
2 Rate of salary increase Executive 9% Executive 9%
Non-Executive 6.25% Non-Executive 6.25%

TABLE 2
Net Balance Sheet position as at 31st March 2023
(₹ in Crore)
One year ending One year ending
A Development of Net Balance Sheet Position 31st March 2022 31st March 2023

1 Defined Benefit Obligation (DBO) (527.83) (785.52)

2 Fair value of plan assets (FVA) 215.25 267.88
3 Funded status [surplus/(deficit)] (312.58) (517.64)
4 Effect of Asset ceiling — —
5 Net defined benefit asset/(liability) (312.58) (517.64)
B Reconciliation of Net Balance Sheet Position
1 Net defined benefit asset/(liability) at your end of prior period (458.65) (312.58)
2 Service cost (88.13) (139.19)
3 Net interest on net defined benefit liability/(asset) (21.90) (17.18)
4 Amount recognized in OCI (21.89) (168.70)
5 Employer contributions 140.00 120.00
6 Benefit paid directly by the Company 137.97 —
7 Acquisitions credit/(cost) — —
8 Divestitures — —
9 Cost of termination benefits — —
10 Net defined benefit asset/(liability) at end of current period (312.58) (517.64)
C Assumptions as at 31st March 2022 31st March 2023
1 Discount Rate 6.85% 6.80% 6.80% 7.30%
2 Rate of salary increase Executives Executive 9% Executive 9%
Non-Executive Non-Executive
6.25% 6.25%

240
 TABLE 3
Changes in Benefit Obligations and Assets over the year ending 31st March 2023
(₹ in Crore)
One year Period One year Period
A Change in Defined Benefit Obligation (DBO) ending 31st ending 31st
March 2022 March 2023
1 DBO at end of prior period 586.71 527.83
2 Current service cost 88.13 139.19
3 Interest cost on the DBO 33.33 32.94
4 Curtailment (credit)/cost — —
5 Settlement (credit)/cost — —
6 Past service cast-plan amendments — —
7 Acquistions (credit)/cost — —
8 Actuarial (gain)/loss- experience 17.32 211.74
9 Actuarial (gain)/loss- demographic assumptions — —
10 Actuarial (gain)/loss- financial assumptions 2.56 (39.26)
11 Benefits paid directly by the Company (137.97) —
12 Benefits paid from plan assets (62.24) (86.92)
13 DBO at end of current period 527.83 785.52
B Change in fair Value of Assets
1 Fair value of assets at end of prior period 128.06 215.25
2 Acquistion adjustment — —
3 Interest income on plan assets 11.44 15.76
4 Employer contributions 140.00 120.00
5 Return on plan assets greater/(lesser) than discount rate (2.00) 3.79
6 Benefits paid (62.24) (86.92)
7 Fair Value of assets at the end of current period 215.25 267.88

TABLE 4
Additional Disclosure Information
(₹ in Crore)

A Expected benefit payments for the year ending

1 March 31, 2024 51.56
2 March 31, 2025 59.57
3 March 31, 2026 64.53
4 March 31, 2027 74.02
5 March 31, 2028 69.57
6 March 31, 2029 to March 31, 2033 361.05
7 Beyond 10 years 1,356.88

241
 B Expected employer contribution for the period ending 31 March, 2024 141.13
C Weighted average duration of defined benefit obligation 10 years
D Accrued Benefit Obligation at 31 March 2023 453.12
E Plan Asset Information as at 31 March 2023 Percentage
1 Government of India Securities (Central and State) 0.00%
2 High quality corporate bonds (including Public Sector Bonds) 0.00%
3 Equity shares of listed companies 0.00%
4 Property 0.00%
5 Cash (including Special Deposits) 0.00%
6 Schemes of insurance- conventional products 100.00%
7 Schems of insurance-ULIP products 0.00%
8 Other 0.00%
Total 100.00%
F Current and Non-Current Liability Breakup as at 31 March 2023
st

Total
1 Current Liability 49.77
2 Non-Current Asset/(Liability) 735.75
3 Liability as at 31 March 2023 785.52
Note: This report provides basic information in relation to plan assets. Additional input may be required by the Company
in relation to the plan asset disclosures specified in paragraphs 142, 143 of Ind AS 19.

TABLE 5
Sensitivity Analysis
DBO on base assumptions as at 31 March 2023 785.52

These assumptions are summarized in Appendix C of the report

A Discount Rate as at 31 March 2023 7.30%
1 Effect on DBO due to 0.5% increase in Discount rate (35.99)
Percentage Impact -5%
2 Effect on DBO due to 0.5% decrease in Discount rate 39.26
Percentage Impact 5%
B Salary Escalation rate as at 31 March 2023 Executive 9%
Non-Executive 6.25%
1 Effect on DBO due to 0.5% increase in Discount Rate 39.11
Percentage Impact 5%
2 Effect on DBO due to 0.5% decrease in Discount Rate (36.20)
Percentage Impact -5%

242
 Summary of Membership Data
Below is a summary of the active members of the plan:
Executives 31st March 2022 31st March 2023
1 Number of Employees 2257 2244
2 Total monthly salary (INR) 30.08 31.19
3 Total annual Salary (INR) 360.92 374.32
4 Average annual Salary (INR) 0.16 0.17
5 Average attained age (years) 42.39 41.85
6 Total capped Leave Balance (days) 182986 259485
7 Total capped Half Pay Leave Balance (days) 60513.50 131018
Non-Executives
1 Number of Employees 33403 32482
2 Total monthly salary (INR) 222.38 230.56
3 Total annual Salary (INR) 2,668.57 2,766.75
4 Average annual Salary (INR) 0.08 0.09
5 Average attained age (years) 45.34 45.52
6 Total capped Leave Balance (days) 1664156 2073342
7 Total capped Half Pay Leave Balance (days) — —
Note: Executives include KMP employees

Assumption
The actuarial assumptions (deographic & financial) employed for the calculations as at 31 March 2022 and 31 March 2023
are as follows:
Assumptions 31st March 2022 31st March 2023
Discount Rate 6.80% 7.30%
Salary Escalation rate Executive 9% Executive 9%
Non-Executive Non-Executive
6.25% 6.25%
Withdrawal Rate 0.30% 0.30%
Mortality Rate Indian Assured Indian Assured
Lives Mortality Lives Mortality
(2006-08) (2006-08)
Ultimate Ultimate
Specimen Mortality rates
Age Rates Age Rates

20 0.000888 45 0.002874

25 0.000984 50 0.004946

30 0.001056 55 0.007888

35 0.001282 60 0.011534

40 0.001803 65 0.017009

243
3.4.3 Actuarial Valuation of PRMB as at 31.03.2023 Certificates as per IND AS 19 (2015)

TABLE 1
Disclosure of Defined Benefit Cost for the Year ending 31st March 2023
(₹ in Crore)
One Year ending One Year ending
A Profit & Loss (P&L)
31st March 2022 31st March 2023
1 Current Service Cost 13.49 14.41
2 Past Service Cost-Plan amendments 278.93 —
3 Curtailment Cost/(Credit) — —
4 Settlement Cost/(Credit) — —
5 Service Cost 292.42 14.41
6 Net interest on net defined benefit liability/ (asset) 19.06 15.94
7 Immediate recognition of (gains)/losses-other long term — —
employee benefit plans
8 Cost recognized in P&L 311.48 30.35

B Other Comprehensive Income (OCI) One year ending One year ending
31st March 2022 31st March 2023
1 Actuarial (gain)/loss due to DBO experience (50.08) (0.13)
2 Actuarial (gain)/loss due to DBO assumption changes 32.57 (36.91)
3 Actuarial (gain)/loss arising during period (17.51) (37.04)
4 Return on plan assets (greater)/less than discount rate (17.59) (1.58)
5 Actuarial (gain)/loss recognized in OCI (35.11) (38.62)
C Defined Benefit Cost One year ending One year ending
31st March 2022 31st March 2023
1 Service cost 292.42 14.41
2 Net interest on net defined benefit liability /(asset) 19.06 15.94
3 Actuarial (gains)/loss recognized in OCI (35.11) (38.62)
4 Immediate recognition of (gains)/losses-other long — —
term employee benefit plans
5 Defined Benefit Cost 276.38 (8.26)
D Assumption as at One year period ending One year period
31st March 2022 ending 31st March
2023
1 Discount Rate 6.85% 6.80%
2 Medical inflation rate Not available 0.00%

244
 TABLE 2
Development of Net Balance Sheet position
(₹ in Crore)
One Year ending One Year ending
A Profit & Loss (P&L)
31st March 2022 31st March 2023
1 Defined Benefit Obligation (DBO) (597.57) (597.42)
2 Fair value of plan assets (FVA) 358.13 376.27
3 Funded status [surplus/(deficit)] (239.44) (221.15)
4 Effect of Asset ceiling — —
5 Net defined benefit asset/(liability) (239.44) (221.15)
B Reconciliation of Net Balance Sheet Position One Year ending One Year ending
31st March 2022 31st March 2023
1 Net defined benefit asset/(liability) at your end of prior period (175.09) (239.44)
2 Service cost (292.42) (14.41)
3 Net interest on net defined benefit liability/(asset) (19.06) (15.94)
4 Amount recognized in OCI 35.11 38.61
5 Employer contributions 212.02 10.02
6 Benefit paid directly by the Company — —
7 Acquisitions credit/(cost) — —
8 Divestitures — —
9 Cost of termination benefits — —
10 Net defined benefit asset/(liability) at end of current period (239.44) (221.15)
C Assumptions as at One Year ending One Year ending
31st March 2022 31st March 2023
1 Discount Rate 6.80% 7.30%
2 Medical inflation Rate Executive 9% 0.00%
Non Executive
6.25%

TABLE 3
Changes in Benefit Obligations and Assets over the year ending 31st March 2023
(₹ in Crore)
Year Ending Year Ending
A Change in defined Benefit Obligation (DBO)
31st March 2022 31st March 2023
1 DBO at end of prior period 298.65 597.57
2 Current service cost 13.49 14.41
3 Interest cost on the DBO 34.43 40.04
4 Curtailment (credit)/cost — —
5 Settlement (credit)/cost — —
6 Past service cast-plan amendments 278.93 —
7 Acquistions (credit)/cost — —

245
8 Actuarial (gain)/loss- experience (50.08) (0.13)
9 Actuarial (gain)/loss- demographic assumptions 28.85 —
10 Actuarial (gain)/loss- financial assumptions 3.72 (36.91)
11 Benefits paid directly by the Company — —
12 Benefits paid from plan assets (10.42) (17.56)
13 DBO at end of current period 597.57 597.42
B Change in fair Value of Assets
1 Fair value of assets at end of prior period 123.56 358.13
2 Acquistion adjustment — —
3 Interest income on plan assets 15.37 24.10
4 Employer contributions 212.02 10.02
5 Return on plan assets greater/(lesser) than discount rate 17.59 1.58
6 Benefits paid (10.42) (17.56)
7 Fair Value of assets at the end of current period 358.13 376.27

TABLE 4
Additional Disclosure Information

A Expected benefit payments for the year ending

1 March 31, 2024 29.28
2 March 31, 2025 31.91
3 March 31, 2026 34.61
4 March 31, 2027 37.39
5 March 31, 2028 40.17
6 March 31, 2029 to March 31, 2033 235.98
7 Beyond 10 years 1,337.36
B Weighted average duration of defined benefit obligation 12 years
C Accrued Benefit Obligation at 31 March 2023 597.42

TABLE 5
Sensitivity Analysis

DBO on base assumptions as at 31 March 2023 597.42

These assumptions are summarized in Appendix C of the report

A Discount Rate as at 31 March 2023 7.30%
1 Effect on DBO due to 0.5% increase in Discount rate (33.47)
Percentage Impact -6.00%
2 Effect on DBO due to 0.5% decrease in Discount rate 36.91
Percentage Impact 6.00%

246
Below is a summary of the active members of the plan:

Executives 31st March 2022 31st March 2023

1 Number of Employees (actives) 2257 2244
2 Number of Employees (Inactives) 2251 2474
3 Average attained age (years)- Actives 42.39 41.85
4 Average attained age (years)- Inactives 69.00 68.76
5 Average past service (years)- Actives 15.57 14.62
Non-Executives
1 Number of Employees (actives) 33403 32482
2 Number of Employees (Inactives) 5147 5899
3 Average attained age (years)- Actives 45.34 45.52
4 Average attained age (years)- Inactives 68.00 66.64
5 Average past service (years)- Actives 20.74 20.85

Assumption

Assumptions 31st March 2022 31st March 2023

Discount Rate 6.80% 7.30%

Medical Inflation Rate Not Available 0.00%
Mortality Rate -In service Indian Assured Lives Mortality (2012- Indian Assured Lives Mortality (2006-
14) Ultimate 08) Ultimate
Mortality Rate -Post retirement Indian Individual Annuitant’s Indian Individual Annuitant’s Mortality
Mortality Table (2012-15) Table (2012-15)
Average Medical Cost (INR) Executive Employees: Domiciliary Executive Employees: Domiciliary
Benefit-INR 36,000 p.a. Benefit-INR 36,000 p.a.
Hospitalisation Benefit- INR 35,000 Hospitalisation Benefit- INR 35,000 p.a.
p.a. Non-Executive Employees: Domiciliary
Non-Executive Employees: Benefit+ Hospitalisation Benefit
Domiciliary Benefit+ Hospitalisation combined- INR 18,000 p.a.
Benefit combined- INR 18,000 p.a.
Spouse Age Difference Spouse is 5 years younger than Spouse is 5 years younger than
Member Member
Withdrawal Rate 0.30% 0.30%

Specimen Mortality Rates: Indian Assured Lives Mortality (2006-08) Ultimate Table

Age Rates Age Rates

20 0.000888 45 0.002874

25 0.000984 50 0.004946

30 0.001056 55 0.007888

35 0.001282 60 0.011534

40 0.001803 65 0.017009

247
Specimen Mortality rates: Indian Individual Annuitant’s Mortality Table (2012-15)

Age Rates
60 0.006349
65 0.010070
70 0.016393
75 0.027379
80 0.046730
4. Unrecognized items

(a) Contingent Liabilities

I. Claims against the company not acknowledged as debt
(₹ in Crore)
Central State Government Central
Sl. Particulars Government Dept./ Agencies and Public Others Total
No. Dept./ other local authorities Sector
Agencies Enterprises
1 Opening as on 01.04.2022 2,149.01 17,976.32 — 542.07 20,667.40

2 Addition during the year 73.03 318.32 — 0.34 391.69

Claims settled during the year

a. From opening balance 2.46 14,112.85 — 4.81 14,120.12

3 b. Out of addition during the year — 0.27 — — 0.27

c. Total claims settled during the year 2.46 14,113.12 — 4.81 14,120.39
(a+b)
4 Closing as on 31.03.2023 2,219.58 4,181.52 — 537.60 6,938.70

Demand for alleged, Production of coal beyond Environmental Clearance Limit:

Considering the Judgement of the Hon’ble Supreme Court of India in the case of Common Cause vs. UOI and Others (W.P.
(C) No. 114 of 2014), District Mining Officers of Jharkhand, have issued demand notices in respect of 42 projects, alleging
that production in those projects exceeded the available Environmental Clearances limits and demanded compensation
for the said violation. The total demand raised as on dated in the said matter is ₹ 13,568.50 Crore (P.Y. ₹ 13568.50 Crore).
The Company has filed revision petition against the above demands, before the Hon’ble Coal Tribunal, Ministry of Coal,
Govt. of India, the adjudicating authority under the MMDR (i.e. Mines and Minerals Development Regulations) Act, 1957.
The Revisional Authority, Ministry of Coal, Govt. of India vide their interim order dated 16.01.2018 has admitted the
revision application and stayed the execution of the demand orders till further order.

A similar demand notice has also been issued by District Mining Officer (DMO), Bokaro, Jharkhand in the matter of
Damodar Valley Corporation (DVC) considering the above case matter for the alleged violations. However, the Revisional
Authority, Ministry of Coal, Govt. of India vide its order dated 21/12/2021 has set aside the compensation demand order
passed by DMO. The Revisional authority has noticed that there is no proper factual examination after following due
process, proper compensation determination methodology and opportunity to be heard. The said Authority further
observed that it would be appropriate to form a committee of expert to examine factual position, legal issues and to give
proper opportunity of hearing before arriving at any decision in the said matter.

248
Considering the above developments in the said case matter, the Company evaluated that the demand notices of
compensation issued by DMO against the Company is also not tenable. Further, the possibility of an outflow of resources
in the settlement is remote and accordingly, the same has not been considered as contingent liability for the purpose
of reporting.

Nature wise details of contingent liability is shown below:

(₹ in Crore)
Sl.No. Particulars 31.03.2022 31.03.2023
Central Government :
Income tax 1,050.02 1,113.14
Central Excise 153.83 154.28
Clean Energy Cess 941.66 941.66
Service Tax 3.51 10.50
1
Others — —
Sub - Total 2,149.01 2,219.58
State Government and Local Authorities:
Royalty 2,365.64 2,363.24
Environment Clearance/ Holding tax 13,568.50 —
Sales Tax / VAT 1,452.84 1,282.91
Entry Tax 25.00 25.00
2 Electricity Duty 88.96 58.54
MADA 475.37 420.73
Others (Environment Compensation) — 31.10
Sub - Total 17,976.32 4,181.52
Central Public sector Enterprises
Arbitration Proceedings — —
Suit against the company under litigation — —
3 Others — —
Sub- Total — —
Others :
Miscellanous 542.07 537.60
4 Sub- Total 542.07 537.60
TOTAL 20,667.40 6,938.70

II. Guarantee
Bank guarantee issued as on 31.03.2023 : ₹ 476.36 Crore (P.Y. ₹ 433.11 Crore).
III. Letter of Credit
Outstanding Letters of Credit as on 31.03.2023: NIL Crore (P.Y. NIL Crore).
(b) Commitments
Capital Commitment for estimated amount of contracts remaining to be executed and not provided for as on 31.03.2023:
₹ 5,035.68 Crore (P.Y ₹ 3,881.83 Crore).
Other Commitment as on 31.03.2023: ₹ 4,737.89 Crore (P.Y. ₹ 9,783.74 Crore).

249
5. Group Information

% Equity Interest
Country of 31st March, 31st March,
Name Principal activities Incorporation 2023 2022

Coal India Limited (Holding Company) Mining & Production of Coal India 100 % 100 %

Jharkhand Central Railway Ltd. Development of Railway India 64 % 73.67 %

(Subsidiary Company) Infrastructure in Jharkhand

6. Other Information
(a) Provisions
The position and movement of various provisions as per Ind AS-37 except those relating to employee benefits which are
valued actuarially, as on 31.03.2023 are given below:
(₹ in Crore)
Opening Addition during Write back/Adj/ Unwinding Closing
Provisions Balance as on the year Paid during the of Balance as on
01.04.2022 year Discount 31.03.2023
Note 3:- Property, Plant and
Equipments :
Impairment of Assets : 62.26 3.93 (0.99) — 65.50
Note 4:- Capital Work in Progress :
Against CWIP :(impairment) 18.28 3.92 (6.75) — 15.45
Note 5:- Exploration And Evaluation
Assets :
Provision and Impairment : 0.46 1.55 — — 2.01
Note 8:- Loans :
Other Loans : —- — — — —

Note 9:- Other Financial Assets: —- — — — —

Other Deposits and Receivables Security — — — — —
Deposit for utilities Current Account with — — — — —
SubsidiariesClaims & other receivables 14.37 — — — 14.37
Note 10 :-Other Non-Current Assets
Capital Advance 0.08 — (0.08) — 0.00
Note 11:- Other Current Assets
Advance payment of statutory dues 0.89 — (0.89) — —
Other Advances and Deposits 21.24 — (1.79) — 19.45
Note13:-Trade Receivables :
Provision for bad & doubtful debts: 288.26 92.13 — — 380.39
Note 21 :- Non-Current & Current
Provision :
Ex- Gratia 250.70 258.44 (250.70) — 258.44
Performance Related Pay 178.07 155.55 (65.33) — 268.29
Provision for National Coal Wage
Agreement XI — — — — —
Provision for Executive Pay Revision 123.30 1221.28 — — 1344.58
Others — — — — —
Site Restoration/Mine Closure 982.09 — (128.38) 75.44 929.15

250
(b) Segment Reporting
The company is primarily engaged in a single segment business of production and sale of Coal. The income from interest
and other income is less than 10% of the total revenue; hence no separate segment is recognized for the same.

(c) Earnings per share

Sl. For the For the

Particulars year ended year ended
No. 31.03.2023 31.03.2022
(i) Net profit after tax attributable to Equity Share Holders 2,751.67 1,696.92
(ii) Weighted Average no. of Equity Shares Outstanding 94 Lakhs 94 Lakhs
(iii) Basic and Diluted Earnings per Share in Rupees (Face value ₹ 1000/-per share) 2,927.31 1,805.23

(d) Related Party Disclosures

Post-Employment Benefit Fund:
i. Group Gratuity Cash Accumulation Plan with LICI.

ii. New Group Gratuity Cash Accumulation Plan with LICI (for employees joining after 01.04.2014).

iii. New Group Leave Encashment Scheme with LICI.

iv. Coal Mines Provident Fund (CMPF).

v. Contributory Post-Retirement Medical Scheme for Executive Trust

vi. CIL Executive Defined Contribution Pension Scheme-2007

A. List of Related Parties

(i) Holding Company
Coal India Limited (CIL)
(ii) Sister Companies
1. Eastern Coalfields Limited (ECL)

2. Bharat Coking Coal Limited (BCCL)

3. Western Coalfields Limited (WCL)

4. South Eastern Coalfields Limited (SECL)

5. Northern Coalfields Limited (NCL)

6. Mahanadi Coalfields Limited (MCL)

7. Central Mine Planning and Design Institute Limited (CMPDIL)

(iii) Subsidiary Company

Jharkhand Central Railway Limited (JCRL)

251
Transactions with Related Parties
(₹ in Crore)
Loan Current Outstanding
Loan to from Apex Rehabilitation Lease Interest IICM Other / Account balances
Related Balances (payable/
Name of Related Parties Related Charges Charges Rent on Funds charges Investment
(payable/
Parties Parties Income parked receivable) receivables)
Coal India Limited (CIL) — — 179.57 45.02 — — — 342.77 (12.47) —
Central Mine Planning and Design — — — — — — — 227.60 — 146.43
Institute Limited (CMPDIL)
IICM Charges — — — — — — 7.62 — — 1.24
Jharkhand Central Railway — — — — 0.03 — — — — —
Limited (JCRL)

(iv) Key Managerial Personnel

Name Designation W.e.f
Shri Mallikharjuna Prasad Polavarapu Chairman-cum-Managing Director 01.09.2020
Shri Ram Baboo Prasad Director (Technical/Operations) 14.05.2022
Shri S.K. Gomasta Director (Technical/P&P) 01.11.2021 to 25.10.2022
Shri B. Sairam Director (Technical/P&P) 26.10.2022
Shri K. R. Vasudevan Director (Finance) 01.07.2021 to 09.06.2022
Shri Pawan Kumar Mishra Director (Finance) 10.06.2022
Shri Harsh Nath Mishra Director (Personnel) 24.08.2022
Ms. Santosh, Dy. Director General, MoC Govt. Nominee Director 03.01.2022 to 21.02.2023
Shri Ajitesh Kumar Govt. Nominee Director 22.02.2023
Shri Vinay Ranjan Govt. Nominee Director 05.08.2021
Shri Ramesh Kumar Soni Independent Director 01.11.2021
Shri Ravi Prakash Company Secretary 13.07.2017 to 30.08.2022
Shri Amaresh Pradhan Company Secretary 31.08.2022
Remuneration of Key Managerial Personnel
(₹ in Crore)
Sl. Payment to CMD, Whole Time Directorsand For the year ended For the year ended
No. Company Secretary 31.03.2023 31.03.2022
i) Short Term Employee Benefits
Gross Salary 2.63 1.49
Medical Benefits — —
Perquisites and other benefits — —
ii) Post-Employment Benefits
Contribution to P.F. & other fund 0.17 0.12
Actuarial valuation of Gratuity Actuarial 0.53 0.12
valuation
Leave Encashment 1.34 0.48
Contribution to NPS 0.09 0.07
iii) Termination / Retirement Benefits 0.00 0.79
TOTAL 4.76 3.07
Note : Besides above, whole time Directors have been allowed to use company cars for private journey upto a ceiling
of 1000 KMs on payment of Rs.2000 per month as per service conditions.

252
Payment to Independent Directors
(₹ in Crore)
Sl. Pay m e nt to Indep e n d e nt For the year ended For the year ended
No. Directors 31.03.2023 31.03.2022
i) Sitting Fees 0.09 0.21
Balances Outstanding with Key Managerial Personnel as on 31.03.2023
(₹ in Crore)
Sl.
Particulars As on 31.03.2023 As on 31.03.2022
No.
i) Amount Payable — —
ii) Amount Receivable — —
(e) Recent Accounting Pronouncements
Ministry of Corporate Affairs (“MCA”) notifies new standards or amendments to the existing standards under
Companies (Indian Accounting Standards) Rules as issued from time to time. On March 31, 2023, MCA amended
the Companies (Indian Accounting Standards) Amendment Rules, 2023. The effective date for adoption of this
amendment is annual periods beginning on or after April 1, 2023. The amendments are as below:
 Ind AS 1 - Presentation of Financial Statements - This amendment requires the entities to disclose their material
accounting policies rather than their significant accounting policies. The Group does not expect this amendment
to have any significant impact in its financial statements.
 Ind AS 8 - Accounting Policies, Changes in Accounting Estimates and Errors - This amendment has introduced a
definition of ‘accounting estimates’ and included amendments to Ind AS 8 to help entities distinguish changes in
accounting policies from changes in accounting estimates. The Group has evaluated the amendment and there is
no impact on its consolidated financial statements.
 Ind AS 12 - Income Taxes - This amendment has narrowed the scope of the initial recognition exemption so that it
does not apply to transactions that give rise to equal and offsetting temporary differences.   The Group does not
expect this amendment to have any significant impact in its financial statements.

(f) Goods procured by Coal India Ltd. on behalf of Subsidiaries

As per existing practice, goods purchased by Coal India Ltd. on behalf of subsidiary companies are accounted for
in the books of respective subsidiaries directly.

(g) Insurance and escalation claims

Insurance and escalation claims are accounted for on the basis of admission/final settlement.

(h) Provisions made in the Accounts

Provisions made in the accounts against slow moving/non-moving/obsolete stores, claims receivable, advances,
doubtful debts etc. are considered adequate to cover possible losses.

(i) Current Assets, Loans and Advances etc.

In the opinion of the Management, assets other than fixed assets and non-current investments have a value on
realisation in the ordinary course of business at least equal to the amount at which they are stated.

(j) Current Liabilities

Estimated liability has been provided where actual liability could not be measured.

253
(k) Balance Confirmations
Balance confirmation/reconciliation is carried out for cash & bank balances, certain loans & advances, long term
liabilities and current liabilities. Provision is taken against all doubtful unconfirmed balances.

(l) Significant accounting policy

Significant accounting policy (Note-2) has been prepared to elucidate the accounting policies adopted by the
Company in accordance with Indian Accounting Standards (Ind ASs) notified by Ministry of Corporate Affairs(MCA)
under the Companies (Indian Accounting Standards) Rules, 2015.

(m) Leases
i) Punjab State Electricity Board, in terms of lease agreement, has been granted a right to use 15.50 acres of land
of the company. The cost of gross carrying amount of the asset is ₹ 7.90 Crore (PY ₹ 7.90 Crore) and progressive
depreciation there on is ₹ 7.90 Crore (PY ₹ 7.90 Crore) and WDV is Nil (PY₹ Nil). The future minimum lease
payment receivable in aggregate for balance period of lease is ₹ 2.58 Crore. The details of future lease payments
receivable are as under:

(₹ in Crore)
Particulars As at 31.03.2023 As at 31.03.2022

(I) Not later than one year 0.21 0.19

(II) Later than one year and not later than five years 0.86 0.77

(III) Later than five years and till the period of lease 1.51 1.83

Total 2.58 2.79

ii) EIPL, in terms of lease agreement, has been granted a right to occupy and use the Land of the company. The cost of
gross carrying amount of the asset is ₹ 4,968 (PY ₹ 4,968) and progressive depreciation there on is ₹ 4,968 (PY ₹
4,968) and WDV is Nil (PY ₹ Nil). The future minimum lease payment receivable in aggregate for balance period
of lease is Rs.0.90 Lakhs. The matter is pending before the Ld. Arbitrator.

(n) Segment Reporting

In accordance with the provisions of Ind AS 108 ‘operating segment’, the operating segment used for presenting
segment information are identified based on internal report used by Board to allocate resources to the segment
and assess their performance. The Board is the group of Chief operating decision maker within the meaning of Ind
AS 108.
The Board considers a business from the prospect of significant product offering and accordingly has decided
that presently there is one single reportable segment being sale of Coal. Information of financial performance and
assets are presented as the consolidated information in the statement of profit and loss and balance sheet.

Revenue by destination is as follows:

(₹ in Crore)
Particulars India Other countries

Revenue (Net) 15,226.21 Nil

254
Revenue by customer is as follows:
(₹ in Crore)

Customers having more than 10% of Revenue (Net) Amount Country

Customer - 1 2,236.34
Customer - 2 1,511.43 India
Others 11,678.44
Total Revenue (Net) 15,226.21

Current Assets by location are as follows:

(₹ in Crore)
Particulars India Other countries
Current Assets 11,883.25 Nil
(o) Disaggregated Revenue information
(₹ in Crore)

Particulars For the year ended 31.03.2023 For the year ended 31.03.2022

Types of Goods or Service

- Coal 15,226.21 12,352.13
- Others — —

Total Revenue from Contract with 15,226.21 12,352.13

Customers

Types of Customers
- Power Sector 9,658.51 8,444.78
- Non-Power Sector 5,567.70 3,907.35
- Others or Services (CMPDIL) — —

Total Revenue from Contract 15,226.21 12,352.13

with Customers

Types of Contracts
- FSA 11,522.80 10,053.58
- E-Auction 3,703.41 2,298.55
- Others — —

Total Revenue from Contract 15,226.21 12,352.13

with Customers

Timing of Goods or Services

15,226.21 12,352.13
- Goods transferred at a pointof
time
— —
- Goods transferred over time
— —
- Services transferred at a pointof
time — —
- Services transferred over time
Total Revenue from Contract with 15,226.21 12,352.13
Customers

255
(p) Ratios

For the year ended For the year ended

Ratios
31.03.2023 31.03.2022
Current Ratio 1.30 1.34
Inventory Turnover Ratio 11.49 9.36
Receivable Turnover Ratio 5.32 5.51
Trade Payable Turnover Ratio 2.19 1.87
Net Capital Turnover Ratio 1.63 1.56
Net Profit Ratio(%) 18.07 13.74
Return on Capital Employed 0.22 0.15
Return on Equity (ROE) 0.29 0.21
Return on Investment(ROI) - -
(a) ROI on Equity Investment in Unlisted Subsidiaries
(b) ROI on Mutual fund 0.07 0.28

(c) ROI on deposits (with Banks, FIs including ICDs) 0.06 0.04

Current Ratio: The Current ratio is a liquidity ratio the measures the current resources to meet its short- term
obligations. Current ratio has been calculated as Current Assets divided by current liabilities.
Inventory Turnover Ratio: Inventory turnover is a financial ratio showing how many times inventory has been
sold during a given period. Inventory Turnover is calculated by Divided Cost of Goods Sold/ Average value of
Inventory. Where, Cost of Goods Sold = (Total Expenditure – Finance cost – Write off- provision –Corporate Social
Responsibility Expenses- Stripping Activity Adjustment).
Receivables Turnover Ratio: The receivables turnover ratio is an accounting measure used to quantify a company’s
effectiveness in collecting its accounts receivable, or the money owed by customers. Account receivables Turnover
= Gross Credit Sales/ Average trade recivables.
Trade Payable Turnover Ratio: Trade payable turnover shows how many times a company pays off its accounts
payable during a period. Trade Payables turnover Ratio = Total Purchases/ average Trade payables).
Net Capital Turnover: Net Capital turnover is the measure that indicate organization’s efficiency in relation to the
utilization of capital employed in the business and it has been calculated as a ratio of total annual turnover divided
by the total amount of stockholder’s equity (Share Capital+ other equity).
Net Profit Ratio: Net profit as a percentage of Net Sales.
Return on Capital Employed: Earnings before interest and tax (EBIT) / Capital employed where capital employed
is total of Assets- current liabilities.
Return on equity Ratio: Return on equity (ROE) is a measure of financial performance calculated by dividing net
income by Average Shareholder’s equity. Where Net income is Profit after tax for the period, average Shareholder’s
equity = (Opening Equity + Closing Equity)/2.
Return on Investment: Return on Investment (ROI) is a financial ratio used to calculate the benefit received by the
company in relation to its investment cost. The higher the ratio, the greater the benefit earned.
I. ROI on Equity Investment in Unlisted Subsidiaries: Dividend / Average Investment in Equity of Subs.
II. ROI on Mutual fund = Dividend + Capital gain + Fair value gain (Loss) / Average Investment.
III. ROI on deposit (with Bank, FDs incl ICDs) = Interest income / Average Investment.

256
7. GENERAL
7.1 Refund/Adjustment of tax from Tax Authorities are accounted for on cash basis. Additional demand for Income
Tax, Royalty, Cess, Sales Tax, Vat /Entry Tax etc. are accounted for after receipt of final order except as otherwise not
recognized under IND AS-37.
7.2 (a) There is a long pending dispute over capitalization cost of Rajrappa and Giddi Captive Power Plant,
commissioned by EIPL on Built Own and Operate (BOO) basis and the dispute is pending in Civil Appeal No.
7403 of 2009, filed by the Company before the Hon’ble Supreme Court against the Order dated 31.07.2009
of the Jharkhand State Electricity Regulatory Commission duly confirmed subsequently by the Appellate
Tribunal also.
(b) Pursuant to Interim Orders of the Hon’ble Supreme Court dated 14.09.12 and 23.11.12 passed in the said
Appeal, the Company accounted for a liability of ₹ 94.33 Crore for the period ending till 31/03/2008 in FY 2012-
13 and an amount of ₹ 83.03 crore was paid to EIPL after carrying out eligible deduction. Further, an ad-hoc
payment of ₹ 75 Crore and ₹ 25 Crore were also made on 20.11.13 and 10.01.14 respectively as per directives
of the Hon’ble Supreme Court. Further, as directed by the Hon’ble Supreme Court revised amount payable
from April’2008 to March’2014 was calculated based on the methodology adopted by JSERC in determining
the revised tariff up to the period ending March’ 2008. Accordingly an additional amount of ₹ 23.25 Crore was
provided during the FY 2013-14 in addition to ₹ 94.33 Crore as stated above. Further, the additional liability
provided for FY 2014-15 and FY 2015-16 is ₹ 3.26 crore and ₹ 0.26 crore respectively.
The detail of balance receivable amount from EIPL further summarised are as under :
Differential Tariff for the period up to March 2008 in respect of which liability has
(i)
been provided in the Financial Statements of 2012-13 94.33
Differential Tariff for the period April 2008 to March 2014 in respect of which
(ii)
liability has been provided in the year 2013-14 23.25
(iii) Old keep back amount in respect of deemed energy charges 31.36
(iv) Differential tariff for the year 2014-15 3.26
(v) Differential tariff for the year 2015-16 (Rajrappa Area) 0.26
Total 152.46
(vi) Less: Ad-hoc payment (as per Order of the Hon’ble Supreme Court) 183.03
(vii) Net Balance amount (shown in Note-9 under the head Claims & Other Receivables) 30.57
However, EIPL has submitted a total demand for ₹302.63 Crore on 17.09.2012 including ₹ 134.20 Crore on
account of interest on delayed payment which is beyond the purview of PPA as the delayed payment was
never agreed in the said PPA. The total demand of EIPL excluding delayed payment is ₹ 168.43 crore, whereas,
the Company has already released an adhoc payment of ₹ 183.03 crore as stated above. The matter is still
pending before the Hon’ble Supreme Court.
(c) As per clause 1.18.3 of the Power Purchase Agreement with M/s. EIPL, from the date of expiry of one year from
commissioning of the respective power plant, increase/decrease of fuel components of tariff due to variation
in fuel cost shall be determined. The initial price of rejects as per clause 1.14 of PPA was ₹ 90 per tonne.
Accordingly, calculation was made as per clause 1.18.3 of PPA and additional revenue receivable on account
of revision in price of rejects net off with additional tariff payable on account of revised tariff due to increase in
fuel cost was considered in the Financial Statements for the year 2013-14 and supplementary bill to EIPL was
also raised.
Subsequently, during the financial year 2014-15, the price of rejects was again revised based on the
recommendations of the CCL standing committee of Sales and Marketing department and the same was
communicated to Director(Operation) of DLF Ltd. vide letter Ref. No. GM(E&M)/DLF/14/ 3530-36 dated.

257
 17.11.2014. As per letter, G grade slack coal price which was the lowest grade under UHV system of pricing
applicable prior to 01.01.2012 became chargeable for the period from July,2000 to December, 2011 from EIPL.
Consequent upon the issue of above letter, Sales bill and power tariff both were revised.
As on 31.03.2016, the amount receivable from EIPL on account of supply of rejects after adjusting enhanced tariff
was Rs.38.69 Crore. Further, a provision of ₹ 1.64 Cr. was also made in the year 2016-17 making total provision to
₹ 40.33 Cr.
As per clause 2.6 of the Power Purchase Agreement dated. 8th February, 1993, in the event of any dispute arising
out of or in relation to the agreement, the same shall be referred to the sole arbitration of an arbitrator mutually
acceptable to CIL & EIPL as per provisions of Arbitration Act. However, as the parties to the agreement failed to
mutually agree to the appointment of an arbitrator, the petitioner (CCL) was left with no alternative but to move to
the Hon’ble High Court for appointment of an arbitrator in exercising powers under section 11(6) of the Arbitration
and Conciliation Act, 1996. As such the Arbitration Application was filed on 7th April, 2016. The Hon’ble High Court
of Jharkhand during 2017-18, has appointed Ld. Arbitrator as per Agreement to settle the dispute. Hearing is still
pending before Ld. Arbitrator in the said matter.

7.3 Theft of goods during the year is ₹ 0.25 Crore (Previous year ₹ 0.25 Crore).
7.4 In terms of Memorandum of Understanding signed on 07.05.2015 between Central Coalfields Limited (CCL), IRCON
International Limited (IRCON) and the Govt. of Jharkhand (GoJ) for development, financing and implementation of
Railway Infrastructure works in the State of Jharkhand, a Subsidiary Company named as “Jharkhand Central Railway
Limited”(JCRL) was incorporated on 31.08.2015 under the Companies Act, 2013 with an authorized capital of ₹ 5.00
Crore, which has subsequently been increased to ₹ 500.00 Crore. The committed equity share holding pattern, as
per MOA, of CCL, IRCON International Limited and Govt. of Jharkhand is 64%, 26% and 10% respectively. As on
Balance sheet date, JCRL has allotted shares to the value of ₹ 64.63 Crore to the company, ₹ 26.26 Crore to IRCON
International Limited and ₹10.10 Crore to Government of Jharkhand and thus the paid-up capital of JCRL as on
31.03.2023 is ₹ 100.99 Crore.
CCL has prepared Consolidated Financial Statements in addition to its Standalone Financial Statements for
compliance of the Section 129(3) of the Companies Act, 2013.
JCRL has earned a Profit before tax of ₹ 8.13 Crore [P.Y. ₹ 3.03 Crore] for the year ended 31.03.2023.
7.5 Inventory of Stores & Spares are being physically verified by Store Auditors at due intervals. The verification has
been completed for March -2022.
7.6 A) Consequent upon the agreement made with Coal India Limited and President of India for allocation of
coal block Kotre Basantpur and Panchmo Coal Blocks under Coal Mines (Special Provisions) Act, 2015, and
subsequent allocation to CCL for operation and commercial use of mines, the company (CCL) has deposited
75% of Upfront fees amounting to ₹ 30.97 Crore and fixed amount for ₹ 9.91 Crore as security deposit and has
furnished a Performance Bank Guarantee (Performance Security) amounting to ₹ 286.14 Crore, in designated
bank account of Nominated Authority for allotment. ₹ 40.88 Crore (upfront fees ₹ 30.97 Crore and Security
deposit ₹ 9.91 Crore) is appearing under Exploration Evaluation Assets in Note-5. As the conditions of
prescribed guidelines for making payment of 3rd instalment have not yet been fulfilled, the balance amount
of ₹ 10.33 Crore is shown under Capital Commitment.

258
 B) Other Bank Guarantees:

Amount
S. No. In favour of Project & Area
(₹ in Crore)
Member Secretary, Jharkhand State Pollution Control Board in
Selected Dhori GoM,
(i) compliance with the notification Dated 14.03.2017 of Ministry of 140.9
Dhori Area
Environment & Forest
Member Secretary, Jharkhand State Pollution Control Board in
(ii) compliance with the notification Dated 14.03.2017 of Ministry of Karo OCP, B&K Area 4.87
Environment & Forest
Assistant Electrical Engineer, Electrical Supply Sub Station Chatra
JBVNL against load sanction order no 1957/ESE(S) Hazaribagh Amrapali OCP, A&C
(iii) 0.54
dt 22.11.2019 & 1955/ESE(S) Hazaribagh dt 22.11.2019 issued by Area
Electrical Supdt. Engg. Electrical Supply Circle , Hazaribagh
Assistant Electrical Engineer, Electrical Supply Sub Station Chatra
JBVNL against load sanction order no 2259/ESC Daltonganj dt
(iv) Magadh OCP, M&S Area 0.27
28.11.2019 issued by Electrical Supdt. Engg. Electrical Supply Circle,
Daltonganj
Member Secretary, Jharkhand State Pollution Control Board
Kathara OCP, Kathara
(v) against implementation of the remediation plan and natural and 20.33
Area
community resource augmentation plan
7.7 Against the demand of Income Tax Department regarding TCS from Road Sales Customers under section 206 C of
the Income Tax Act, 1961, amounting to ₹ 106.56 Crore, the department has collected ₹ 71.79 Crore by attaching
the bank account of the company and the balance amount of ₹ 34.77 Crore has been deposited by the company.
The company in turn has recovered ₹ 77.53 Crore from the customers as on balance sheet date and the balance
₹ 27.99 Crore is under process of recovery.
Subsequently, the case was disposed by CIT(A) and against the said order CCL preferred an appeal before the ITAT
since the order issued by CIT(A) was non-speaking in nature. ITAT in its order dated 23.01.2023 given verdict in
favour of CCL and allowing all grounds raised by the CCL.
7.8 CCL used to supply Washed Medium Coking Coal (WMCC) to M/S SAIL & RINL at the price mutually agreed in MOU
(Memorandum of Undertakings) entered between CCL & SAIL / RINL, duly signed by the representatives of CCL
and SAIL (Steel Authority of India Limited) / RINL (Rashtriya Ispat Nigam Limited, also known as Vizag Steel). The
last such MOU executed was valid for FY 2016-17 i.e. up to 31.03.2017 and the agreed price applicable for FY 2016-
17 was ₹ 5,780/- per tonne. As per CIL’s (Coal India Limited) direction, CCL notified the price of WMCC considering
the doctrine of Import Parity as envisaged by New Coal Distribution Policy (NCDP) of the Government. However,
both SAIL and RINL had raised their concerns in the said matter i.e. unilateral price revision as against agreed
price mechanism. Thereafter, several letters including discussions have been exchanged between these parties
(CCL, SAIL and RINL), but no consensus has been agreed in the said matter. However, a mutually agreed ad-hoc
price @ ₹ 6,500/- per tonne has been implemented w.e.f. 28/07/2018 after several rounds of persuasion in the said
matter and further agreed to implement pricing on import parity price mechanism on the recommendation of an
independent agency. However, no concreate progress in the said matter has been achieved in the said matter till
date.
7.9 The Secretary to Government, Revenue, Registration and Land Reforms Department, Government of Jharkhand
vide his Letter No. 5/Sa.Bhu (CCL) Ramgarh- 303/2012-519 (5)/Ra. Dated 07/02/2020 to The Chairman, Coal India
limited has raised a demand of ₹ 26218.15 crores against 36179.30 acres of Government land under the command
area of CCL. The demand comprises of Rent, Cess and Salami as lease bandobasti of land for lease period.

259
 Land is acquired by CCL as per notification issued by Central Government under Section 9(1) of CBA (A&D) Act, 1957
and physical possession is taken under Section 12 of CBA (A&D) Act, 1957 which is free from all encumbrances.
Accordingly, CCL didn’t agree with the demand raised by state government. However, the company as per the
provisions of Section 13(5) in the Coal Bearing Areas (Acquisition and Development) Act,1957 agrees to pay land
compensation at present rural agricultural circle rate against Govt. Land to the Govt. of Jharkhand. The tentative
liability for land compensation based on present rural agricultural rate comes to ₹ 778.62 Crore for 5392.75 acres of
Govt land which is subject to verification by district officials and CCL released an adhoc payment of ₹ 1990.77 Crore.
The tentative liability of ₹ 778.62 Crore has been capitalised as Other Land under PPE. (Refer to Note -3 of financial
statements).
7.10 Pending clearance of CTO & CTE in respect of Religarah OC , Laiyo- Jharkhand OC OBR accounting has not been
considered as per revised Stripping Ratio, and Since there is no production in Kedla Open Cast Project OBR
accounting has not been done.
The revision of stripping ratio of mines due on 2022-23 has been taken up by the management and the technical
assessment of such revision is under process.
7.11 Surface Transportation Charge for lead range of 0 to 3 km charged by the company has disputed by some of the
plants of NTPC. CCL has moved to AMRCD through Coal India Limited for resolution of dispute. Coal India has raised
the issue before Ministry of Coal vide its letter No. CIL/M&S/22-23/389 dt 10.10.2022 for scheduling of AMRCD
meeting at an early date. As the matter is pending with AMRCD no provision has been considered against disputed
amount of ₹ 1.94 Crore.
7.12 CCL has paid Rs 600.66 crore as interim dividend for FY 2022-23 (PY 2021-22 ₹ 404.20 crore as interim dividend and
further ₹ 423.00 crore paid as final dividend for FY 2021-22). The Board of Directors proposed / recommended final
dividend for FY 2022-23 of ₹ 423.00 crore, which will be recognised as distribution to owners during FY 2023-24 on
its approval by the Shareholders in Annual General Meeting. The dividend per share amounts to ₹ 639/- towards
interim dividend and ₹ 450/- towards proposed final dividend, total ₹ 1089/- per share for FY 2022-23 (PY interim
dividend per share amounts to ₹ 430/- and ₹ 450/- per share as final dividend, total ₹ 880/- per share).

Others
i. Previous year’s figures have been restated, regrouped and rearranged wherever considered necessary.
ii. Previous Year’s figures in Note No. 3 to 38 are in brackets.
iii. Note –1 and 2 represents Corporate information and Significant Accounting Policies respectively, Note 3 to 23
form part of the Balance Sheet as at 31st March 2023 and 24 to 37 form part of Statement of Profit & Loss for
the period ended on that date. Note – 38 represents Additional Notes to the Financial Statements.

In terms of our Report of even date For and on Behalf of Board.

Sd/- Sd/-
For SPAN & ASSOCIATES. (P.M. Prasad) (Pawan Kumar Mishra)
Chartered Accountants Chairman-cum-Managing Director Director (Finance)
(Firm Registration no. 302192E) DIN 08073913 DIN 09665365

Sd/- Sd/- Sd/-

CA. K. Chakarbarti (Rajendra Singh) (Amresh Pradhan)
Partner General Manager(Finance) Company Secretary
Membership no. 015363 M No. F-11264

Place : Ranchi
Dated : 27th April, 2023

260
 MANAGEMENT REPLY TO STATUTORY AUDITOR’S REPORT
FY 2022-23 (STANDALONE)
AUDITORS’ REPORT MANAGEMENT’S REPLY
To
The Members
Central Coalfields Limited,
Report on the Audit of Standalone Ind AS Financial Statements
Opinion
On the basis of audit queries made by the Comptroller & Auditor
General of India, this revised audit report (Revising Annexure"A"
referred to Paragraph 1 of Report on Other Legal and Regulatory
Requirement Part-I Sl. No-i, Report on additional direction Part -II
Sl. No 02 and Sl. No 03 under 143 (5) of the Companies Act, 2013)
has been prepared in lieu of the earlier report dated 27th April 2023
to comply with observations issued by the Comptroller & Auditor
General of India.
We have audited the accompanying Standalone Ind AS financial
statements of Central Coalfields Limited (“the Company”) which
comprise the balance sheet as at 31st March 2023, and the
statement of Profit and Loss (Including Other Comprehensive
Income), statement of changes in equity and statement of cash
flows for the year then ended, and notes to the standalone Ind AS
financial statements, including a summary of significant accounting
policies and other explanatory information (hereinafter referred
to as “financial statements”) in which are included the Returns for
the year ended on that date audited by the Branch/ Area Auditors
of the Company’s branches/ areas located at Kathara, Dhori, Bokaro
& Kargali, Kuju, North Karanpura, Piparwar, Magadh & Sanghmitra,
Amrapali & Chandragupta, Rajhara, Charhi and remaining five (5)
Branches/ areas audited by us.
In our opinion and to the best of our information and according
to the explanations given to us, and based on the consideration
of reports of the other auditors, the aforesaid Standalone Ind AS
financial statements give the information required by the Act in the
manner so required and give true and fair view in conformity with
the accounting principles generally accepted in India, including the
Ind AS, of the financial position of the company as at 31st March,
2023 and its financial performance including other comprehensive
income, its cash flow and the statement of changes in equity for the
year ended on that date.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing
(SAs) specified under section 143(10) of the Companies Act, 2013.
Our responsibilities under those Standards are further described in
the Auditor’s Responsibilities for the Audit of the standalone Ind AS
Financial Statements section of our report. We are independent of
the Company in accordance with the Code of Ethics issued by the
Institute of Chartered Accountants of India together with the ethical
requirements that are relevant to our audit of the standalone Ind
AS financial statements under the provisions of the Companies Act,
2013 and the Rules thereunder, and we have fulfilled our other ethical
responsibility in accordance with these requirements and the Code
of Ethics. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.

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 AUDITORS’ REPORT MANAGEMENT’S REPLY
Emphasis of Matters
We draw attention to the following matters:
a) Other current assets (Note No 11), other non-current assets Balance confirmation letters have been issued to the
(Note No 10), trade payables (Note No 19), other financial parties in respect of trade receivables, trade payables and
liabilities (Note No 20) and other current liabilities (Note No advances. The balances with major sundry debtors are
23) are subject to confirmation. Our opinion is not modified in
reconciled at regular intervals and Joint Reconciliation
respect of this matter.
Statements are also signed by both the parties.
b) Accumulated amount of Rs 1,455.57 crores under GST Input
Tax credit is a case in reference under inverted duty structure. No Comments
As per the Honorable Supreme Court decision for the refund
under Inverted Duty Structure dated 13.09.2021 recoverability/
adjustability of the amount stands uncertain. Refer Note-11:
Other Current Assets Our opinion is not modified in respect of
this matter.
c) Liability Written Back for the Financial Year 2022-23 amounts to
Rs 352.32 crores. Refer NOTE 25: OTHER INCOME It has been adequately disclosed in Note-25 to the Financial
Our opinion is not modified in respect of this matter. Statement.
Key Audit Matters
Key audit matters are those matters that, in our professional judgment,
were of most significance in our audit of the standalone Ind AS financial
statements of the current period. These matters were addressed in the
context of our audit of the standalone Ind AS financial statements as a
whole, and in forming our opinion thereon, and we do not provide
a separate opinion on these matters. We have determined the matters
described below to be the key audit matters to be communicated in
our report.
Sl. Key Audit Matter Auditor’s Response
1. Stripping Activity Expense/ Principal Audit Procedures: We
Adjustment performed the following
In case of opencast mining, substantive procedures:
the mine waste materials a) Obtained working data of
(“overburden”) which consists of Stripping Adjustment and checked
soil and rock on the top of coal that the total expense incurred No Comments.
seam is required to be removed during the year is allocated
to get access to the coal and its between Coal production and
extraction. This waste removal Overburden. Ensured about
activity is known as ‘Stripping’. accuracy and completeness of
In opencast mines, the company expenses considered in calculation
has to incur such expenses over of ratio.
the life of the mine (as technically
estimated). b) Checked that the ratio variance
is calculated on the basis of
Therefore, as a policy, in the amount allocated to overburden
mines with rated capacity of and OB quantity extracted during
one million tons per annum the year correctly.
and above, cost of Stripping is
charged on technically evaluated c) Performed analytical
average stripping ratio (OB: procedures and test of details
COAL) at each mine with due for reasonableness of expenses
adjustment for stripping activity considered in stripping activity
asset and ratio-variance account adjustment calculation.
after the mines are brought to
revenue.

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 AUDITORS’ REPORT MANAGEMENT’S REPLY
Net of balances of stripping Checked that the accounting
activity asset and ratio variance at policy applied and management’s
the Balance Sheet date is shown judgments used for Stripping
as Stripping Activity Adjustment Activity Adjustment are
under the head Non-Current appropriate.
Provisions / Audit Conclusion:
Other Non-Current Assets as the Our procedures did not identify
any material exceptions.
case may be.

The reported quantity of

overburden as per record is
considered in calculating the
ratio for OBR accounting where
the variance between reported
quantity and measured quantity
is within the permissible limits.
No Comments.
However, where the variance is
beyond the permissible limits as
above, the measured quantity
is considered. Refer Note 21 to
the Standalone Ind AS Financial
Statements.
2. Ind AS 115 “Revenue from Principal Audit Procedures:
Contracts with Customers”:
In the standalone Ind AS financial We have assessed the application
statements in respect of accuracy of the provisions of Ind AS 115 in
of revenue recognition and respect of the Company’s revenue
adjustments for coal quality recognition and appropriateness
variances involves critical of the estimated adjustments in
estimates. the process.
The revenue recognized by We have selected transactions
the Company in a particular on sample basis and tested
contract is dependent on the sale for identification of contracts
agreement / allotment in e-auction involving disputes relating
for the respective customer. to grade mismatch/ slippage
Subsequent adjustments are with respect to the terms of
made to the transaction price the contract, evaluation of the
due to grade mismatch/slippage satisfaction of performance
of the transferred coal. obligation checking the
The variation in the contract price adjustment to the revenue due to
if not settled mutually between variation in transaction price
the parties to the contract is We have performed tests to
referred to third party testing establish the basis of estimation
and the company estimates the of the consideration and whether
adjustments required for revenue such estimates are commensurate
recognition pending settlement with the accounting policy of the
of such dispute. Such adjustments Company.
in revenue are made on estimated Audit Conclusion:
basis following historical trend. Our procedures did not identify
Refer to Note 24. to the Standalone any material exceptions.
Ind AS Financial Statements.

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 AUDITORS’ REPORT MANAGEMENT’S REPLY
Information Other than the Standalone Ind AS Financial
Statements and Auditor’s Report thereon

The Company’s management and Board of Directors are responsible for

the other information. The other information comprises the information
included in the Management Discussion and Analysis, Board’s Report
including Annexure to Board’s Report, Business Responsibility Report,
Corporate Governance and Shareholder’s Information, but does not
include the Standalone Ind AS financial statements and our auditor’s
report thereon.

Our opinion on the Standalone Ind AS financial statements does not

cover the other information and we do not express any form of assurance
conclusion thereon.

In connection with our audit of the Standalone Ind AS financial statements,

our responsibility is to read the other information and, in doing so,
consider whether the other information is materially inconsistent with
the Standalone Ind AS financial statements or our knowledge obtained in
the audit or otherwise appears to be materially misstated.

Responsibility of Management for the Standalone Ind AS

financial statements

The Company’s Board of Directors is responsible for the matters stated

in section 134(5) of the Companies Act, 2013 (“the Act”) with respect
to the preparation of these standalone Ind AS financial statements that
give a true and fair view of the financial position, financial performance,
including other comprehensive income and cash flows and changes in
equity of the Company in accordance with the accounting principles
generally accepted in India, including the Indian Accounting Standards
(Ind AS) specified under section 133 of the Act, read with relevant rules
issued thereunder. This responsibility also includes maintenance of
adequate accounting records in accordance with the provisions of the
Act for safeguarding of the assets of the Company and for preventing
and detecting frauds and other irregularities; selection and application
of appropriate implementation and maintenance of accounting policies;
making judgments and estimates that are reasonable and prudent; and
design, implementation and maintenance of adequate internal financial
controls, that were operating effectively for ensuring the accuracy and
completeness of the accounting records, relevant to the preparation and
presentation of the Standalone Ind AS financial statements that give a
true and fair view and are free from material misstatement, whether due
to fraud or error.
In preparing the Standalone Ind AS financial statements, management
is responsible for assessing the Company’s ability to continue as a going
concern, disclosing, as applicable, matters related to going concern
and using the going concern basis of accounting unless management
either intends to liquidate the Company or to cease operations, or has
no realistic alternative but to do so. Those Board of Directors are also
responsible for overseeing the company’s financial reporting process.

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 AUDITORS’ REPORT MANAGEMENT’S REPLY
Auditor’s Responsibility for the Audit of the Standalone
Ind AS Financial Statements
Our objectives are to obtain reasonable assurance about whether the
Standalone Ind AS financial statements as a whole are free from material
misstatement, whether due to fraud or error, and to issue an auditor’s
report that includes our opinion. Reasonable assurance is a high level of
assurance, but is not a guarantee that an audit conducted in accordance
with SAs will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material
if, individually or in the aggregate, they could reasonably be expected
to influence the economic decisions of users taken on the basis of these
Standalone Ind AS financial statements.
As part of an audit in accordance with SAs, we exercise professional
judgment and maintain professional skepticism throughout the audit.
We also:
- Identify and assess the risks of material misstatement of the standalone
Ind AS financial statements, whether due to fraud or error, design and
perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our
opinion. The risk of not detecting a material misstatement resulting
from fraud is higher than for one resulting from error, as fraud may
involve collusion, forgery, intentional omissions, misrepresentations,
or the override of internal control.
- Obtain an understanding of internal financial controls relevant to
the audit in order to design audit procedures that are appropriate
in the circumstances. Under section 143(3)(i) of the Act, we are also
responsible for expressing our opinion on whether the Company has
adequate internal financial controls system in place and the operating
effectiveness of such controls.
- Evaluate the appropriateness of accounting policies used and the
reasonableness of accounting estimates and related disclosures made
by management.
- Conclude on the appropriateness of management’s use of the going
concern basis of accounting and, based on the audit evidence
obtained, whether a material uncertainty exists related to events or
conditions that may cast significant doubt on the Company’s ability to
continue as a going concern. If we conclude that a material uncertainty
exists, we are required to draw attention in our auditor’s report to the
related disclosures in the standalone Ind AS financial statements or, if
such disclosures are inadequate, to modify our opinion.

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 AUDITORS’ REPORT MANAGEMENT’S REPLY
Our conclusions are based on the audit evidence obtained up to the
date of our auditor’s report.

Evaluate the overall presentation, structure and content of the

standalone Ind AS financial statements, including the disclosures,
and whether the standalone Ind AS financial statements represent
the underlying transactions and events in a manner that achieves fair
presentation.
Materiality is the magnitude of misstatements in the standalone Ind AS
financial statements that, individually or in aggregate, makes it probable
that the economic decisions of a reasonably knowledgeable user of the
Standalone Ind AS financial statements may be influenced. We consider
quantitative materiality and qualitative factors in (i) planning the scope
of our audit work and in evaluating the results of our work; and (ii) to
evaluate the effect of any identified misstatements in the Standalone Ind
AS financial statements.

We communicate with those charged with governance regarding, among

other matters, the planned scope and timing of the audit and significant
audit findings, including any significant deficiencies in internal control
that we identify during our audit.

We also provide those charged with governance with a statement

that we have complied with relevant ethical requirements regarding
independence, and to communicate with them all relationships and other
matters that may reasonably be thought to bear on our independence,
and where applicable, related safeguards.

From the matters communicated with those charged with governance,

we determine those matters that were of most significance in the audit of
the standalone Ind AS financial statements of the current period and are
therefore the key audit matters. We describe these matters in our auditor’s
report unless law or regulation precludes public disclosure about the
matter or when, in extremely rare circumstances, we determine that a
matter should not be communicated in our report because the adverse
consequences of doing so would reasonably be expected to outweigh
the public interest benefits of such communication.

Other Matter
(a) We did not audit the financial statements / information of 10
(Ten) branches/ areas included in the Standalone Ind AS financial
statements of the company whose financial statements reflect No Comments.
total assets of ₹ 7826.26 Crore as at 31st March 2023 and total
revenues of ₹ 14052.60 Crore for the year ended on that date,
as considered in the Standalone Ind AS financial statements.

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 AUDITORS’ REPORT MANAGEMENT’S REPLY
The financial statements/information of these branches/ areas have been
audited by the Branch/ Area Auditors whose reports have been furnished
to us, and in our opinion so far as it relates to the amounts and disclosures
included in respect of these branches/ areas, is based solely on the reports
of such Branch/ Area Auditors.
(b) We have placed reliance on:
(i) The mine closure plan prepared by the Central Mine Planning
No Comments
and Design Institute Limited (CMPDIL) and approved by the
management of the CCL for the purpose of making provision
towards Mine Closure expenses.
(ii) The Management’s evaluation/estimates, whether technical
or otherwise for making the provision towards impairment of No Comments
fixed assets
(c) There is a migration from Coalnet to SAP - ERP for recording
the underlying business transactions across the company. The company is in process to conduct Migration Audit.
The entire process flow of migration under the new system
should be under migration Audit inclusive of validation
check within a time bound programme.
(d) As per Standalone financial statement Advance from
customers amounts to ₹ 3063.62 crores (Note 23). However, Auto clearance of balances is under development stage
there are also balances lying outstanding under Trade and expected to be in operation very soon.
Receivables (Note 13) against those Advances which
requires reconciliation.

Our opinion is not modified in respect of above “Other

Matters”
Report on Other Legal and Regulatory Requirements
1. As required under section 143(5) of the Companies Act
2013, we give in the “Annexure A”, a statement on the
Directions/Additional Directions issued by the Comptroller
and Auditor General of India after complying the suggested
methodology of Audit, the action taken thereon and its
impact on the accounts and the Standalone Ind AS financial
statements of the Company.
2. As required by the Companies (Auditor’s Report) Order, 2020
(“the Order”) issued by the Central Government of India in
terms of Section 143(11) of the Act, we give in “Annexure B”
a statement on the matters specified in paragraphs 3 and 4
of the Order.
3. As required by section 143(3) of the Act, we report that:
a. We have sought and obtained all the information and
explanations which to the best of our knowledge and belief
were necessary for the purposes of our audit of the aforesaid
standalone Ind AS financial statements read with as reported
in “Emphasis of Matters” paragraph above.

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 AUDITORS’ REPORT MANAGEMENT’S REPLY
b. In our opinion proper books of account as required by law
relating to preparation of the aforesaid standalone Ind AS
financial statements have been kept by the Company so far
as appears from our examination of those books and the
reports of the other auditors.
c. The reports on the accounts of the branch offices of the
Company audited under Section 143(8) of the Act by
Branch/ Area Auditors have been sent to us and have been
properly dealt with by us in preparing this report.
d. The Balance Sheet, the Statement of Profit and Loss
including Other Comprehensive Income, the Cash Flow
Statement and the Statement of Change in Equity dealt
with by this Report, including the statements of branches/
areas audited by Branch/ Area Auditors, are in agreement
with the books of accounts.
e. In our opinion, we don’t have any observation which has an
adverse impact on functioning of the Company.
f. In our opinion, the aforesaid Standalone Ind AS financial
statements comply with the Accounting Standards
specified under section 133 of the Act read with relevant
Rule issued thereunder.
g. In pursuance of the Notification No. G.S.R.463(E) dated
05.06.2015 issued by the Ministry of Corporate affairs,
section 164(2) of the Act, pertaining to disqualification of
Directors is not applicable to the Government company.
h. We don’t have any qualification, reservation or adverse
remark relating to the maintenance of accounts and the
matters connected therewith.
i. With respect to the adequacy of the internal financial
controls over financial reporting of the Company and
the operating effectiveness of such controls, refer to our
separate Report in “Annexure C”. Our report expresses
an unmodified opinion on the adequacy and operating
effectiveness of the Company’s internal financial controls
over financial reporting.
j. With respect to the other matters to be included in
the Auditor’s Report in accordance with Rule 11 of the
Companies (Audit and Auditors) Rules, 2014, as amended,
in our opinion and to the best of our information and
according to the explanations given to us:
i. The company has disclosed its pending litigations
under Additional Note 38 of the Standalone Ind
AS financial statement. The impact, if any, of these
litigations will be given effect to as and when the
same are determined/settled.

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 AUDITORS’ REPORT MANAGEMENT’S REPLY
ii. The Company has made provisions as required under
the applicable law or accounting standards, for material
foreseeable losses if any, on long term contracts and the
company did not have any derivative contracts.
iii. As per the written representation received from the
management, there were no amounts which were required
to be transferred to the Investor Education and Protection
Fund by the Company.
iv. (a) The Management has represented that, to the best of
its knowledge and belief no funds have been advanced
or loaned or invested (either from borrowed funds or
share premium or any other sources or kind of funds)
by the company to or in any other person or entity,
including foreign entity (“intermediaries”), with the
understanding, whether recorded in writing or other
wise, that the intermediary shall, whether, directly or
indirectly lend or invest in other persons or entities
identified in any manner whatsoever by or on behalf
of the company (“ultimate Beneficiaries”) or provide
any Guarantee, Security or the like on behalf of the
ultimate Beneficiaries;
(b) The Management has represented, that to the best
of its knowledge and belief no funds have been
received by the company from any person or entity,
including foreign entity (“Funding Parties”), with
the understanding, whether recorded in writing or
otherwise, the company shall, whether, directly or
indirectly, lend or invest in other person or entities
identified in any manner whatsoever by or on behalf of
the funding party (“ultimate Beneficiaries”) or provide
any Guarantee, Security or the like on behalf of the
ultimate Beneficiaries;
(c) Based on such audit procedures that have been
considered reasonable and appropriate in the
circumstance, nothing has come to our notice that
has caused to believe that representations under Sub-
Clause(i) and (ii) of Rule 11(c), as provided under (a)
and (b) above, contain any material misstatement.
v. (a) The final dividend proposed in the previous year,
declared and paid by the company during the year is in
accordance with section 123 of the Act, as applicable.
(b) The interim dividend declared and paid by the
Company during the year is in compliance with Section
123 of the Act.

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 AUDITORS’ REPORT MANAGEMENT’S REPLY
(c) The Board of Directors of the company have proposed
final dividend for the year which is subject to the
approval of the members at the ensuing Annual
General Meeting. The amount of dividend proposed
is in accordance with Section 123 of the Act, as
applicable.
vi. Proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014
for maintaining books of account using accounting software
which has a feature of recording audit trail (edit log) facility
is applicable to the Company with effect from April 1, 2023,
and accordingly, reporting under Rule 11(g) of Companies
(Audit and Auditors) Rules, 2014 is not applicable for the
financial year ended March 31, 2023.

For SPAN & Associates

CHARTERED ACCOUNTANTS
(FRN: 302192E)

Sd/-
(CA K. Chakrabarti)
Partner
(M. NO. 015363)
UDIN: 23015363BGYQYS4386

Place : Ranchi.
Dated : 13.06.2023

270
 Annexure “A” referred to in paragraph 1 of “Report on Other Legal and Regulatory Requirements” of
Independent Auditor’s Report on the Standalone Ind AS financial statements for the year ended March 31,
2023, we report that;

Report on directions under section 143(5) of the Companies Act, 2013 in respect of M/s Central Coalfields
Limited for the year 2022-23

PART - I
AUDITORS’ REPORT MANAGEMENT’S REPLY
1. Whether the Company has system in place to process
all the accounting transactions through IT System?
If Yes, the implications of processing of accounting
transactions outside IT System on the integrity of the
accounts along with the financial implications. If any,
may be stated.
No Comments.
There is a system in place to process all the accounting
transaction through SAP system. A few modules of
SAP system are yet to be made fully functional. The
accounting of Performance Incentive, Closing Stock
valuation and OBR done through other IT system
and the end result is entered in the main accounting
system.
2. Whether there is any restructuring of an existing
loan or cases of waiver / write-off of debt/loans/
interest etc. made by a lender to the company due
to the company’s inability to repay the loan? If yes,
the financial impact may be stated. Whether such
cases are properly accounted for? (in case, lender is No Comments.
Government company, then this directions is also
applicable for statutory auditor of Lender Company.)

As per the information and explanation provided to

us there is no such cases.
3 Whether Funds (Grants/subsidy etc.) received /
receivable for specific schemes from Central /State
Government or its agencies were properly accounted
for / utilized as per its terms and conditions? List the No Comments.
cases of deviation.

As per the information and explanation provided to

us there is no such cases of deviation.

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 PART-II
AUDITORS’ REPORT MANAGEMENT’S REPLY
Report on additional directions under Section
143(5) of the Companies Act, 2013 in respect of
M/s. Central Coalfields Limited for the year 2022-23.
1. Whether coal stock measurement was done based on
Yellow Book? Whether Physical stock measurement
report are accompanied by contour maps in all cases?
Whether approval of the Competent Authority was
obtained for new heap, if any, created during the year.
As per information and explanation given to us,
coal stock measurement is done based on Yellow No Comments.
book. The physical stock measurements are
done as per guideline of CIL Annual Coal Stock
Measurement keeping in view the contour map
which is accompanied with the physical stock
measurement report.
Further, any new heap is created only after
approval of the competent authority.

2. Whether the company has conducted physical

verification exercise of assets and properties at the
time of merger/split/ re-structure of an area. If so,
whether the concerned subsidiary followed the
requisite procedure No Comments.

As per information and explanation given to

us, Giridhi area has been merged with Dhori
area with effect from financial year 2022-23 and
physical verification of Assets and Properties was
conducted by the area.
3. Whether separate Escrow Accounts for each mine has
been maintained in CIL and its subsidiary companies.
Also examine the utilization of the fund of the account.
As per information and explanation given to us,
Escrow Account for 66 mines has been maintained
and during the year, the CCL has received sum of No Comments.
₹ 5.50 crores (P.Y. ₹ 35.30 Crs.) for mine closure
activities after obtaining approval from the Coal
Controller Office.
In respect of Pindra OC Mines & Tapin South OCP
Escrow account has not been opened due to non-
availability of Approved PR&MCP

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 AUDITORS’ REPORT MANAGEMENT’S REPLY
4. Whether the impact of penalty for illegal mining as
imposed by the Hon’ble Supreme Court/National
Green Tribunal /State Pollution control Board has
been duly considered are accounted for.
Pursuant to the order of the Hon’ble Supreme Court
of India, District Mining Offices of Jharkhand had
raised a demand of ₹ 13568.50 crores for mining in
excess of the environmental clearances limit in 42
mines. Against the said demand, the CCL has filed
a revision petition before Hon’ble Coal Tribunal,
Ministry of Coal, Govt. of India, the adjudicating
authority under the MMDR Act. The Revisional
Authority vide its interim order dt.16.01.2018 has No Comments.
stayed the execution of the demand till further
order.
Taking into consideration of the order of the
Revisional Authority, Ministry of Coal, Govt.
of India vide its order dated 21/12/2021 to
Damodar Valley Corporation (DVC) in a similar
demand notice, the said demand has neither been
acknowledged as debt nor the same has been
included in Contingent Liability of the Standalone
Ind AS financial statement. The said matter has
been disclosed under Note 38.

5. Whether any Independent Assessment/ Certification The Company is in process to conduct Migration Audit.
in respect of migration process of data from Coalnet
portal to SAP has been done.
As per the information and explanation received
Independent Assessment/ Certification in respect
of migration process of data from Coalnet portal
to SAP is yet to be done.

273
 Annexure - “B” referred to in paragraph 2 of “Report on Other Legal
and Regulatory Requirements” of Independent Auditor’s Report on the Standalone
Ind AS financial statements for the year ended March 31, 2023, we report that;
AUDITORS’ REPORT MANAGEMENT’S REPLY
(i) (a) A. During the course of our audit, it was
observed that the Company has generally
maintained proper records showing full particulars
of Property plant and Equipment.

B. The Area has maintained proper records showing

full particulars of Intangible Assets.

(b) According to the information as given to us, the

management has conducted the Physical verification
of Fixed Assets except surveyed off assets, each
valuing ₹ 1.00 lakh and above, and of each asset
irrespective of the value in case of additions made
during the last three years, and Physical verification
has been conducted at reasonable intervals. As
informed to us, no material discrepancies have been
noticed on such verification.

(c) According to the information and explanation

given to us, land transferred from erstwhile coal
companies under pre- nationalization period to
CCL under Coal Mines (Nationalization Act) 1973
were vested in Coal Mines Authority Limited by
Statutory Order No. GSR/345.E dated 9th July 1973,
New Delhi. The Deeds are kept in Land & Revenue
department and also available at CCL website. Land
acquired under Coal Bearing Areas (Acquisition and
Development) Act 1957 under section 9(1) of CBA
Act along with the S.O. are uploaded in CCL website.
Once payment of final land compensation to the
land oustees is made, original land documents are
kept in the Land & Revenue Department of CCL.
In rest of the cases, the title deeds are kept with
concerned department of the CCL.

Branch Auditor of Piparwar, Amrapali Chandragupta,

Kuju, Magadh Sanghmitra, Rajhara and North
Karanpura areas Physical verification reported
that title deeds of land have not been produced
to them for their further verification. Title deeds of
immovable property of Barkakana CRS has also not
been produced to us for further verification.

274
 AUDITORS’ REPORT MANAGEMENT’S REPLY
(d) According to the information & explanations
as provided to us and as observed by us, no re-
valuation of Property, Plant and Equipment (in-
cluding right to use assets) or intangible assets of
both during the year has been carried out by the
company.
(e) According to the information & explanations
as provided to us, no proceeding has been initiat-
ed or pending against the company for holding
any benami property under the benami transac-
tions (prohibition) act, 1988 (45 of 1988) and rules
made thereunder.
(ii) (a) As per policies of the company, physical
Verification of Coal, Coke, etc. has been done by
way of volumetric measurement with reference to
contour map at each mine by the Inter-Area meas-
urement team at different location. The Inter-Area
team has given their report with respect to the
same. The company is constantly following the ac-
counting policy in this respect in case of variance
up to +/- 5 % between the Book Stock & Measured
Stock, Book Stock is considered for valuation of
closing stock and Variance, if any within the pre-
scribed limit, found is ignored.
In respect of Physical Verification of Stores and
Spares, Stores Auditor for was not appointed for
F.Y. 2022-23. Moreover, Physical Verification of
Stores and Spares for F.Y. 2021-22 has been carried
out by the Stores Auditor taking into considera-
tion the Kardex Balance. However, as informed by
the management reconciliation of Physical Bal-
ances of Stores and Spares with Book Stock (SAP)
is under process.
(b) No fresh working capital limit has been sanc-
tioned to the Company during any point of time
of the year from any Banks/ Financial Institutions.
(iii) According to the information and explanations
given to us, the Company has not made investment
provided any guarantee or security or granted any
loans or advances in the nature of loan, secured or
unsecured, to companies, firms, Limited liability
partnership or any other parties, except
a) Maintaining a Current Account with the holding
Company.
As per information and explanations given
to us, the above loans/advances etc. are not
prejudicial to the company’s interest.

275
 AUDITORS’ REPORT MANAGEMENT’S REPLY
(iv) According to the information and explanations given
to us, the Company has complied with the provisions
of sections 185 and 186 of the Act, in respect of the
loans and investments made and guarantees and
security provided by it.
(v) The Company has not accepted any deposit, in
terms of the directives issued by the Reserve Bank of
India and the provisions of Sections 73 to 76 or any
other relevant provisions of the Companies Act and
the rules framed there under. However, balances in
respect of amount received in the course of, or for the
purpose of the business of the Company as Earnest
Money Deposits, Security Deposits and Advance
Deposits from Customers / Others, the Company is of
the view that these deposits do not come under the
purview of the Companies (Acceptance of Deposits)
Rules 2014.
(vi) We have broadly reviewed the cost records maintained
by the company as prescribed by the Central
Government under section 148 (1) of the Companies
Act, 2013 and are of the opinion that prima facie the
prescribed accounts and records have been made and
maintained. However, we have not made a detailed
examination of the cost records with the view to
determine whether they are accurate or complete.
As informed to us, the cost audit for the financial year
2022-23 is under process till the date of our Audit.
(vii) (a) According to the information and explanations
given to us and on the basis of our examination
of the records of the Company, amounts
deducted/ accrued in the books of account in
respect of undisputed statutory dues including
Goods & Service Tax, provident fund, Employees
State Insurance, income-tax, sales tax, duty of
customs, service tax, duty of excise, value added
tax, cess, pension fund, professional tax, MMDR,
Royalty and other material statutory dues
generally have been regularly deposited during
the year by the Company with the appropriate
authorities.
According to the information and explanations
given to us, no undisputed amounts payable in
respect of Goods & Service Tax, provident fund,
Employees State Insurance, income-tax, sales
tax, duty of customs, service tax, duty of excise,
value added tax, cess, pension fund, professional
tax, MMDR, Royalty and other material statutory
dues were in arrears as at 31 March 2023 for a
period of more than six months from the date
they became payable.

276
 AUDITORS’ REPORT MANAGEMENT’S REPLY
(b) Statutory dues referred to in sub-clause (a)
which have not been deposited on account
of any dispute, the amounts involved and
the forum where such dispute is pending is
mentioned “Appendix-1”.
(viii) According to the information and explanations as
provided to us, no transaction has been identified or
reported by the tax authorities under tax assessments
under the Income Tax Act, 1961 (43 of 1961) which
requires to be surrendered or disclosed as income
during the year.
(ix) (a) The Company has not defaulted in repayment of
any loans or other borrowings or in the payment of
interest thereon.
(b) According to the information & explanations as
provided to us, the company has not been declared
as wilful defaulter by any bank or financial institution
or other lender.
(c) According to the information & explanations as
provided to us, no term loans were applied for the
purpose for which the loans were obtained during
the year.
(d) According to the information & explanations as
provided to us the company has not raised any fund
on short term basis which have been utilized as
long-term basis.
(e) According to the information & explanations as
provided to us, the Company has not taken any
funds from any entity or person on account of or to
meet the obligations of its subsidiaries, associates or
joint ventures.
(f ) According to the information & explanations as
provided to us, the company has not raised any loans
during the year on the pledge of securities held in its
subsidiaries, joint ventures or associate company.
(x) (a) According to the information and explanations .
given to us and on the basis of books and records
examined by us, the Company did not raise any
money by way of initial public offer or further public
offer (including debt instruments) during the year.
Accordingly, paragraph 3 (x) para (a) of the Order is
not applicable.

(b) According to the information and explanations

given to us and on the basis of books and records
examined by us, the Company has not made any
preferential allotment or private placement of
shares or convertible debentures (Fully, partially or
optionally convertible) during the year. Accordingly,
paragraph 3 (x) para (b) of the Order is not applicable.

277
 AUDITORS’ REPORT MANAGEMENT’S REPLY
(xi) (a) According to the information and explanations given
to us, no material fraud by the Company and any
fraud on the Company by its officers and employees
has been noticed or reported during the year.
(b) According to the information & explanations as
provided to us, no report under sub-section (12)
of section 143 of the Companies act has been filed
by the auditors in form ADT-4 as prescribed under
rule 13 of companies (audit and auditors) rules, 2014
with the central government.
(c) As per the whistle blower policy (approved by CIL
Board in its 478th Board held on 18.10.2019), CCL
has a system in place to resolve the whistle blower
complaints in an appropriate and timely manner,
however, as per the information provided to us,
the company has not received any whistle- blower
complaints.
(xii) (a) In our opinion and according to the information and
explanations given to us, the Company is not a Nidhi
company. Accordingly, paragraph 3(xii) of the Order
is not applicable.
(xiii) According to the information and explanations given
to us and based on our examination of the records of
the Company, transactions with the related parties
are in compliance with sections 177 and 188 of the
Companies Act, 2013 where applicable and details of
such transactions have been disclosed in the financial
statements etc. as required by the applicable accounting
standards.
(xiv) (a) In our opinion, and according to information and
explanations given to us, the company has an
internal audit system commensurate with the size
and nature of its business;
(b) Yes, the reports of the internal auditors for the period
under audit were considered by us;
(xv) According to the information and explanations given
to us, the Company has not entered into non-cash
transactions with directors or persons connected with
him. Accordingly, paragraph 3(xv) of the Order is not
applicable.
(xvi) (a) The Company is not required to be registered under
section 45-IA of the Reserve Bank of India Act
1934. Accordingly, Clause 3(xvi) of the order is not
applicable.
(b) According to the information & explanations as
provided to us, the Company has not conducted any
non-banking or housing finance activities.

278
 AUDITORS’ REPORT MANAGEMENT’S REPLY
(c) The company is not a Core investment Company (CIC) .
as defined in the regulations made by the Reserve
Bank of India.
(d) The company is not a Core investment Company (CIC)
as defined in the regulations made by the Reserve
Bank of India neither it has more than one CIC.
(xvii) According to the information & explanations as provided
to us, the Company has not incurred any cash losses in
the financial year and in the immediately preceding
financial year.
(xviii) According to the information & explanations as provided
to us, there is no resignation of the statutory auditors
during the year.
(xix) In our opinion, and according to information &
explanations given to us, & on basis of the financial
ratios, ageing and expected dates of realization of
financial assets and payment of financial liabilities, other
information accompanying the financial statements, no
material uncertainty exist as on date of the audit report
that company is not capable of meeting its liabilities
existing at the date of balance sheet as and when they
fall due within a period of one year from the balance
sheet date;
(xx) (a) In respect of other than ongoing projects, the
company did not have any balance of unspent
amount required to be transferred to a fund specified
in schedule VII to the Companies Act, 2013 within a
period of six months of the expiry of the financial
year in compliance with second proviso to sub-
section (5) of section 135 of the said act;
(b) In respect of ongoing projects, the company is in the
process of transfer unspent CSR amount to a special
account in compliance with the provision of sub-
section (6) of section 135 of the said act.
(xxi) As we are reporting under standalone financial
statements, hence this clause is not applicable.

For SPAN & Associates

CHARTERED ACCOUNTANTS,
(Firm Registration No.
302192E)

Sd/-
(CA K. Chakrabarti)
Partner
(M. No. 015363)
UDIN – 23015363BGYQYS4386

Place : Ranchi
Dated : 13.06.2023

279
Annexure — “C” referred to in paragraph 3(g) of “Report on Other Legal and Regulatory Requirements” of Independent Auditor’s
Report on the standalone Ind AS financial statements for the for the year ended March 31, 2023, we report that;

Report on the Internal Financial Controls Over Financial Reporting under Clause (i) of Subsection 3 of Section
143 of the Companies Act, 2013 (“the Act”)

AUDITORS’ REPORT MANAGEMENT’S REPLY

We have audited the internal financial controls over financial
reporting of ‘Central Coalfields Limited’ (“the Company”)
as of 31st March 2023 in conjunction with our audit of the
Standalone Ind AS financial statements of the Company for
the year ended on that date.
Management’s Responsibility for Internal Financial
Controls
The Company’s management is responsible for establishing
and maintaining internal financial controls based on the
internal control over financial reporting criteria established
by the Company considering the essential components of
internal control stated in the Guidance Note on Audit of
Internal Financial Controls Over Financial Reporting issued
by the Institute of Chartered Accountants of India (‘ICAI’).
These responsibilities include the design, implementation
and maintenance of adequate internal financial controls
that were operating effectively for ensuring the orderly
and efficient conduct of its business, including adherence
to company‘s policies, the safeguarding of its assets, the
prevention and detection of frauds and errors, the accuracy
and completeness of the accounting records, and the timely
preparation of reliable financial information, as required
under the Companies Act, 2013.
Auditors’ Responsibility
Our responsibility is to express an opinion on the Company’s
internal financial controls over financial reporting based on
our audit. We conducted our audit in accordance with the
Guidance Note on Audit of Internal Financial Controls over
Financial Reporting (the “Guidance Note”) and the Standards
on Auditing, issued by ICAI and deemed to be prescribed
under section 143(10) of the Companies Act, 2013, to the
extent applicable to an audit of internal financial controls,
both applicable to an audit of Internal Financial Controls
and, both issued by the Institute of Chartered Accountants
of India. Those Standards and the Guidance Note require
that we comply with ethical requirements and plan and
perform the audit to obtain reasonable assurance about
whether adequate internal financial controls over financial
reporting was established and maintained and if such
controls operated effectively in all material respects.

280
 AUDITORS’ REPORT MANAGEMENT’S REPLY
Our audit involves performing procedures to obtain audit
evidence about the adequacy of the internal financial
controls system over financial reporting and their operating
effectiveness. Our audit of internal financial controls over
financial reporting included obtaining an understanding of
internal financial controls over financial reporting, assessing
the risk that a material weakness exists, and testing and
evaluating the design and operating effectiveness of internal
control based on the assessed risk. The procedures selected
depend on the auditor’s judgment, including the assessment
of the risks of material misstatement of the Standalone Ind
AS financial statements, whether due to fraud or error.
We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our audit
opinion on the Company’s internal financial controls system
over financial reporting.
Meaning of Internal Financial Controls Over Financial
Reporting
A company’s internal financial control over financial
reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and
the preparation of Standalone Ind AS financial statements
for external purposes in accordance with generally accepted
accounting principles. A company’s internal financial
control over financial reporting includes those policies and
procedures that (1) pertain to the maintenance of records
that, in reasonable detail, accurately and fairly reflect the
transactions and dispositions of the assets of the company; (2)
provide reasonable assurance that transactions are recorded
as necessary to permit preparation of Standalone Ind AS
financial statements in accordance with generally accepted
accounting principles, and that receipts and expenditures
of the company are being made only in accordance
with authorizations of management and directors of the
company; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition,
use, or disposition of the company’s assets that could
have a material effect on the Standalone Ind AS financial
statements.

281
 AUDITORS’ REPORT MANAGEMENT’S REPLY
Inherent Limitations of Internal Financial Controls Over
Financial Reporting
Because of the inherent limitations of internal financial
controls over financial reporting, including the possibility
of collusion or improper management override of controls,
material misstatements due to error or fraud may occur and
not be detected. Also, projections of any evaluation of the
internal financial controls over financial reporting to future
periods are subject to the risk that the internal financial
control over financial reporting may become inadequate
because of changes in conditions, or that the degree of
compliance with the policies or procedures may deteriorate.
Opinion
In our opinion, the Company has, in all material respects, an
adequate internal financial controls system over financial
reporting and such internal financial controls over financial
reporting were operating effectively as at 31st March 2023,
based on the internal control over financial reporting criteria
established by the Company considering the essential
components of internal control stated in the Guidance
Note on Audit of Internal Financial Controls Over Financial
Reporting issued by the Institute of Chartered Accountants
of India.
However, further improvement is required in
i) processing of salary of Piece Rate Workers through SAP
(ERP).
ii) mapping of MSME Vendor in SAP for compliance
requirement of MSME Act 2006.
iii) imposing of restriction in Accesing of SAP (ERP) through
unsecured network/ connection. Our opinion is not qualified
in respect of the above matters.

For SPAN & Associates

CHARTERED ACCOUNTANTS,
(Firm Registration No. 302192E)

Sd/-
(CA K. Chakrabarti)
Partner
(M. No. 015363)
UDIN – 23015363BGYQYS4386

Place : Ranchi
Dated : 13.06.2023

282
 Appendix- “1” referred to in clause vii to ANNEXURE - “B” Referred to in paragraph 2 of
“Report on Other Legal and Regulatory Requirements” of Independent Auditor’s Report on
the standalone Ind AS financial statements for the year ended March 31, 2023
DETAILS of DISPUTED STATUTORY LIABILITIES AS ON 31.03.2023
(Figures ₹ in Crore)
PAYMENT
NO. OF DISPUTED
TAX TYPE NAME OF COURT PERIOD UNDER
CASES AMOUNT
PROTEST
Certificate Office - Dhanbad, 84-85, 86-87, 90-91 to 95-96, 98-99 to 848.75 9.76
ROYALTY CASES 62 Ranchi, Bokaro, Hazaribagh / DMO 04-05, 06-07, 08-09, to 20-21
/ DD(M)
Dy. Commissioner - Hazaribagh, 95-96, 96-97, 08-09, 14-15, 16-17, 18-19, 4.92 1.71
ROYALTY CASES 7
Ramgarh 19-20
ROYALTY CASES 4 Commissioner - Hazaribagh 05-06, 08-09 4.72 1.26
High Court, Jharkhand 87-88, 98-99, 91-92, 92-93, 93-94, 96-97, 1,457.44 18.73
ROYALTY CASES 33
98-99, 02-03, 05-06, 06-07 to 20-21
ROYALTY CASES 4 Supreme Court, Delhi 91-92, 99-00, 08-09 47.40 14.12
110 2,363.24 45.58
JCCT(A), Hazaribagh 89-90, 90-91,93-94 to 05-06, 07-08, 08-09, 622.85 72.05
SALES TAX CASES 224
10-11 to 17-18
SALES TAX CASES 93 JCCT(A), Ranchi 85-86, 90-91 to 07-08, 09-10 to 16-17 42.15 24.06
CCT/DCCT, Ranchi 88-89, 89-90, 92-93, 93-94, 94-95, 96-97, 86.03 27.75
SALES TAX CASES 49 97-98, 99-00 to 01-02, 03-04, 05-06 to
11-12, 12-13, 13-14 to 15-16, 17-18
CCT/DCCT, Hazaribagh / Ramgarh 90-91, 92-93 to 94-95, 96-97, 98-99 to 229.39 90.68
SALES TAX CASES 160
17-18
SALES TAX CASES 142 TRIBUNAL, Ranchi 90-91 to 16-17 298.61 92.59
SALES TAX CASES 1 High Court, Jharkhand 11-12 3.87 3.87
MADA 1 High Court, Jharkhand 2005-06 to 2022-23 416.78 76.73
670 1,699.69 387.73
ELECTRICITY DUTY CASES 38 DCCT 03-04 to 18-19 16.95 10.57
ELECTRICITY DUTY CASES 234 JCCT(A), Hazaribagh 1992-93 to 2017-18 28.93 15.78
ELECTRICITY DUTY CASES 9 CCT, Ranchi 06-07 to 11-12, 14-15 to 17-18 6.07 2.75
TRIBUNAL, Ranchi 1993-94 to 1997-98, 2004-05 to 10-11, 3.41 2.02
ELECTRICITY DUTY CASES 22
14-15 to 17-18
ELECTRICITY DUTY CASES 8 High Court, Jharkhand 97-98 to 04-05 3.18 1.22
311 58.54 32.34
ENTRY TAX CASES 1 Supreme Court, Delhi 2007-08 25.00 0.00
SERVICE TAX & EXCISE Commissioner, Ranchi 14-15, 15-16, 16-17, 17-18 44.62 0.61
15
CASES
SERVICE TAX & EXCISE CESTAT, Kolkata 10-11 to 12-13, 2015-16 120.15 3.01
19
CASES
34 164.78 3.62
CLEAN ENERGY CESS 1 High Court, Jharkhand 17-18 941.66 0.00
INCOME TAX CASES 1 DCIT, Ranchi 04-05 1.94 1.94
INCOME TAX CASES 5 CIT(A), Ranchi 15-16, 17-18 to 20-21 618.55 189.01
INCOME TAX CASES 11 ITAT 06-07 to 16-17 492.65 463.65
17 1,113.14 654.60
TOTAL 6,366.05 1,123.87

283
 CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES AS AT 31.03.2023
(₹ in Crore)
Sl. As at 31.03.2023 As at 31.03.2022
Particulars
No. (Audited) (Audited)

A EQUITY AND LIABILITIES

1. Shareholders' funds

(a) Equity Share Capital 940.00 940.00

(b) Other Equity 9,384.15 7,475.78

(c) Money Received against Share Warrants — —

Sub - total - Shareholder's funds 10,324.15 8,415.78

2 Share Application Money pending allotment — —

3 Non-Controlling Interest 192.87 99.45

4 Non-Current Liabilities

(a) Financial Liabilities 357.33 124.13

(b) Deferred Tax Liabilities (Net) — —

(c) Other Non-current Liabilities 452.98 497.13

(d) Provisions 5,334.98 5,118.65

Sub - total - Non-current Liabilities 6,145.29 5,739.91

5 Current Liabilities

(a) Financial Liabilities 2,530.16 2,612.02

(b) Current Tax Liabilities (net) — —

(c) Other Current Liabilities 4,467.66 3,116.19

(d) Provisions 2,174.46 833.75

Sub - total - Current Liabilities 9,172.28 6,561.96

TOTAL - EQUITY AND LIABILITIES 25,834.59 20,817.10

B ASSETS

1 Non- current Assets

(a) Fixed Assets 8,499.74 7,493.00

(b) Goodwill on consolidation — —

(c) Deferred Tax Assets (Net) 504.95 679.47

(d) Financial Assets 1,702.09 1,373.57

(e) Other Non-current Assets 3,084.75 2,293.31

Sub-total - Non-current Assets 13,791.53 11,839.35

284
Sl. As at 31.03.2023 As at 31.03.2022
Particulars
No. (Audited) (Audited)

2 Current assets

(a) Financial Assets 7,396.42 4,573.98

(b) Inventories 1,144.30 1,031.34

(c) Other Current Assets 3,434.70 3,218.27

(d) Current Tax Assets (net) 67.64 154.16

Sub - total - Current Assets 12,043.06 8,977.75

TOTAL - ASSETS 25,834.59 20,817.10

In terms of our Report of even date For and on Behalf of the Board

Sd/- Sd/-
For SPAN & ASSOCIATES (P. M. Prasad) (Pawan Kumar Mishra)
Chartered Accountants Chairman-cum-Managing Director Director (Finance)
(Firm Registration no. 302192E) DIN 08073913 DIN- 09665365

Sd/-
Sd/- Sd/-
(CA K. Chakrabarti)
(Rajendra Singh) (Amaresh Pradhan)
Partner
General Manager(Finance) Company Secretary
Membership no. 015363
Membership no. F11264

Place : Ranchi
Dated : 27th April, 2023

285
 STATEMENT OF CONSOLIDATED RESULTS FOR THE YEAR ENDED 31.03.2023
(₹ in Crore except Shares and EPS)
Quarter Ended Year Ended
Sl.
Particulars 31.03.2023 31.03.2022 31.12.2022 31.03.2023 31.03.2022
No.
Unaudited Audited

1 Income from Operations

Gross Sales 6,401.67 6,122.32 5,563.81 22,720.19 18,585.25

Less: Other levies 2,136.06 2,024.94 1,856.21 7,493.98 6,233.12

(a) Net Sales/ Income from operations (Net of levies) 4,265.61 4,097.38 3,707.60 15,226.21 12,352.13

(b) Other operating income 316.77 316.55 286.38 1,152.99 1,134.29

Total income from operations (Net) (a+b) 4,582.38 4,413.93 3,993.98 16,379.20 13,486.42

2 Expenses

(a) Cost of materials consumed 335.78 311.38 285.72 1,170.83 855.15

(b) Changes in inventories of finished goods, work-in- progress (470.53) (24.52) (81.81)
and Stock-In-Trade (350.94) 278.86

(c) Employee Benefits Expense 2,557.75 1,384.81 1,588.01 7,222.70 5,476.09

(d) Depreciation/amortisation/impairment 214.00 180.00 170.08 682.98 647.55

(e) Power & fuel Expenses 72.89 68.29 68.04 265.88 261.55

(f ) Corporate Social Responsibility Expenses 28.30 24.89 10.75 43.39 53.14

(g) Repairs 90.84 131.02 59.14 243.12 273.25

(h) Contractual Expenses 477.64 544.74 482.48 1,944.87 1,867.10

(i) Other Expenses 325.86 392.50 297.99 1,050.31 1,202.35

(j) Provisions/write off 284.03 3.17 — 284.03 3.44

(k) Stripping Activity Adjustment (7.36) 585.02 652.18 725.21

320.22

Total expenses ( a to k) 3,909.20 3,274.88 3,257.91 13,478.48 11,643.69

3 Profit/ (Loss) from operations before other income, finance costs 673.18 1,139.05 736.07 2,900.72 1,842.73
and exceptional items (1-2)

4 Other income 364.32 156.23 228.31 926.46 336.80

5 Profit / (Loss) from ordinary activities before finance costs and 1,037.50 964.38 3,827.18 2,179.53
exceptional items (3+4) 1,295.28

6 Finance costs 16.09 21.83 19.36 75.44 81.77

7 Profit / (Loss) from ordinary activities after finance costs butbefore

1,021.41 1,273.45 945.02 3,751.74 2,097.76
exceptional items (5-6)

8 Exceptional items — — — — —

9 Profit / ( Loss ) from ordinary activities before tax (7-8) 1,021.41 1,273.45 945.02 3,751.74 2,097.76

10 Tax expense 292.54 244.78 255.71 994.66 398.82

11 Net Profit / ( Loss ) for the period (9-10) [A] 728.87 1,028.67 689.31 2,757.08 1,698.94

12 Extraordinary items (Net of tax expense) — — — —

286
 13 Net Profit / ( Loss ) after taxes but before share of profit /(loss)
728.87 1,028.67 689.31 2,757.08 1,698.94
of associates and minority interest (11 + 12)

14 Share of Profit / (loss) of Associates — — — —

15 Minority Interest — — — —

16 Net Profit / (Loss) for the period (13 + 14 + 15) 728.87 1,028.67 689.31 2,757.08 1,698.94

17 Other Comprehensive Income/(loss)(net of tax) [B] 84.08 (48.81) 34.90 177.59 (51.39)

18 Total Comprehensive Income/(loss) [A + B] 812.95 979.86 724.21 2,934.67 1,647.55

19 Paid-up Equity share capital

940.00 940.00 940.00 940.00 940.00
(Face Value of share ₹ 1000/- each)

20 Earnings per share (EPS)

(Face Value of share ₹ 1000 /-each) (not annualised)

(a) Basic (₹) 774.75 1,094.28 731.70 2,931.00 1,806.82

(b) Diluted (₹) 774.75 1,094.28 731.70 2,931.00 1,806.82

In terms of our Report of even date For and on Behalf of the Board

Sd/- Sd/-
For SPAN & ASSOCIATES (P. M. Prasad) (Pawan Kumar Mishra)
Chartered Accountants Chairman-cum-Managing Director Director (Finance)
(Firm Registration no.302192E) DIN 08073913 DIN- 09665365

Sd/-
Sd/- Sd/-
(CA K. Chakrabarti)
(Rajendra Singh) (Amaresh Pradhan)
Partner
General Manager(Finance) Company Secretary
Membership no. 015363
Membership no. F11264

Place : Ranchi
Dated : 27th April, 2023

287
 CONSOLIDATED BALANCE SHEET AS AT 31ST MARCH, 2023
(₹ in Crore)

As at As at
Notes
31.03.2023 31.03.2022

ASSETS
Non-Current Assets
(a) Property, Plant & Equipments 3 6,045.93 5,737.64
(b) Capital Work in Progress 4 1,743.05 1,161.74
(c) Exploration and Evaluation Assets 5 683.95 573.69
(d) Intangible Assets 6.1 26.81 8.66
(e) Intangible Assets under Development 6.2 — 11.27
(f) Investment Property — —
(g) Financial Assets
(i) Investments 7 — —
(ii) Loans 8 5.10 2.06
(iii) Other Financial Assets 9 1,696.99 1,371.51
(h) Deferred Tax Assets (net) 504.95 679.47
(i) Other Non-current Assets 10 3,084.75 2,293.31
Total Non-Current Assets (A) 13,791.53 11,839.35
Current Assets
(a) Inventories 12 1,144.30 1,031.34
(b) Financial Assets
(i) Investments 7 718.59 64.72
(ii) Trade Receivables 13 3,001.17 2,149.65
(iii) Cash & Cash Equivalents 14 980.44 747.32
(iv) Other Bank Balances 15 2,533.87 1,513.04
(v) Loans 8 0.71 —
(vi) Other Financial Assets 9 161.64 99.25
(c) Current Tax Assets (Net) 67.64 154.16
(d) Other Current Assets 11 3,434.70 3,218.27
Total Current Assets (B) 12,043.06 8,977.75
Total Assets (A+B) 25,834.59 20,817.10

288
 CONSOLIDATED BALANCE SHEET AS AT 31ST MARCH, 2023 (Contd.)
(₹ in Crore)
As at As at
Notes 31.03.2022
31.03.2023
EQUITY AND LIABILITIES
Equity
(a) Equity Share Capital 16 940.00 940.00
(b) Other Equity 17 9,384.15 7,475.78

Equity attributable to Equityholders of the Company 10,324.15 8,415.78

Non-Controlling Interest 192.87 99.45
Total Equity (A) 10,517.02 8,515.23
Liabilities
Non-Current Liabilities
(a) Financial Liabilities
(i) Borrowings 18 125.12 —
(ii) Lease Liabilities — —
(iii) Other Financial Liabilities 20 232.21 124.13
(b) Provisions 21 5,334.98 5,118.65
(c) Other Non-Current Liabilities 22 452.98 497.13
Total Non-Current Liabilities (B) 6,145.29 5,739.91
Current Liabilities
(a) Financial Liabilities
(i) Borrowings 18 0.03 —
(ii) Lease Liabilities
(iii) Trade Payables 19
Total outstanding dues of micro and small enterprises 9.88 6.98
Total outstanding dues of Creditors other than micro and small enterprises 1,305.24 1,556.66
(iv) Other Financial Liabilities 20 1,215.01 1,048.38
(b) Other Current Liabilities 23 4,467.66 3,116.19
(c) Provisions 21 2,174.46 833.75
(d) Current Tax Liabilities (net) — —
Total Non-Current Liabilities (C) 9,172.28 6,561.96
Total Equity and Liabilities (A+B+C) 25,834.59 20,817.10
Significant Accounting Policies 2
Additional Notes to the Financial Statements 38
The Accompanying Notes form an integral part of the Financial Statements.
In terms of our Report of even date For and on Behalf of the Board

Sd/- Sd/-
For SPAN & ASSOCIATES (P. M. Prasad) (Pawan Kumar Mishra)
Chartered Accountants Chairman-cum-Managing Director Director (Finance)
(Firm Registration no. 302192E) DIN 08073913 DIN- 09665365

Sd/- Sd/- Sd/-

(CA K. Chakrabarti) (Rajendra Singh) (Amaresh Pradhan)
Partner General Manager(Finance) Company Secretary
Membership no. 015363 Membership no. F11264
Place : Ranchi
Dated : 27th April, 2023

289
 CONSOLIDATED STATEMENT OF PROFIT AND LOSS
FOR THE YEAR ENDED 31ST MARCH, 2023
( ₹ in Crore)
For the year ended For the year ended
Notes 31.03.2022
31.03.2023
Revenue from Operations 24
A. Sales (Net of levies) 15,226.21 12,352.13
B. Other Operating Revenue (Net of levies) 1,152.99 1,134.29
(I) Revenue from Operations (A+B) 16,379.20 13,486.42
(II) Other Income 25 926.46 336.80
(III) Total Income (I+II) 17,305.66 13,823.22
(IV) Expenses
Cost of Materials Consumed 26 1,170.83 855.15
Changes in inventories of finished goods/work in 27 (81.81) 278.86
progress and Stock in trade
Employee Benefits Expense 28 7,222.70 5,476.09
Power Expenses 265.88 261.55
Corporate Social Responsibility Expenses 29 43.39 53.14
Repairs 30 243.12 273.25
Contractual Expenses 31 1,944.87 1,867.10
Finance Costs 32 75.44 81.77
Depreciation/Amortization/ Impairment 682.98 647.55
Provisions 33 92.13 3.41
Write off 34 191.90 0.03
Stripping Activity Adjustments 652.18 725.21
Other Expenses 35 1,050.31 1,202.35
Total Expenses (IV) 13,553.92 11,725.46
(V) Profit before Exceptional items and Tax (III-IV) 3,751.74 2,097.76
(VI) Exceptional Items — —
(VII) Profit before Tax (V-VI) 3,751.74 2,097.76
(VIII) Tax expense 36
Current Tax 820.14 404.15
Deferred Tax 174.52 (5.33)
(IX) Profit for the year from continuing operations (VII-VIII) 2757.08 1,698.94
(X) Profit from discontinued operations — —
(XI) Tax expenses of discontinued operations — —
(XII) Profit from discontinued operations (after Tax) — —
(X-XI)
(XIII) Share in JV’s/Associate’s Profit/(Loss) — —
(XIV) Profit for the year (IX+XII+XIII) 2,757.08 1,698.94
Other Comprehensive Income 37
A (i) Items that will not be reclassified to profit or loss 237.32 (68.68)
(ii) Income tax relating to items that will not be 59.72 (17.29)
reclassified to profit or loss
B (i) Items that will be reclassified to profit or loss — —

290
 For the year ended For the year ended
Notes 31.03.2022
31.03.2023
(ii) Income tax relating to items that will be — —
reclassified to profit or loss
(XV) Total Other Comprehensive Income 177.59 (51.39)
(XVI) Total Comprehensive Income for the year (XIV+XV) 2,934.67 1,647.55
(Comprising Profit /(Loss) and Other Comprehensive
Income for the year)
Profit attributable to :
Owners of the Company 2,755.14 1,698.41
Non-Controlling Interest 1.94 0.53
2,757.08 1,698.94
Other Comprehensive Income attributable to :
Owners of the Company 177.59 (51.39)
Non-Controlling Interest — —
177.59 (51.39)
Total Comprehensive Income attributable to :
Owners of the Company 2,932.73 1,647.02
Non-Controlling Interest 1.94 0.53
(XVII) Earnings per Equity Share (for continuing
operation) :
(1) Basic ( ₹ ) 2,931.00 1,806.82
(2) Diluted ( ₹ ) 2,931.00 1,806.82
(XVIII) Earnings per Equity Share (for discontinued
operation) :
(1) Basic ( ₹ ) — —
(2) Diluted ( ₹ ) — —
(XIX) Earnings per Equity Share (for discontinued &
continuing operation) :
(1) Basic ( ₹ ) 2,931.00 1,806.82
(2) Diluted ( ₹ ) 2,931.00 1,806.82
Significant Accounting Policies 2
Additional Notes to the Financial Statements 38
The Accompanying Notes form an integral part of the Financial Statements.

In terms of our Report of even date For and on Behalf of the Board

Sd/- Sd/-
For SPAN & ASSOCIATES (P. M. Prasad) (Pawan Kumar Mishra)
Chartered Accountants Chairman-cum-Managing Director Director (Finance)
(Firm Registration no. 302192E) DIN 08073913 DIN- 09665365

Sd/-
Sd/- Sd/-
(Amaresh Pradhan)
(CA K. Chakrabarti) (Rajendra Singh)
Company Secretary
Partner General Manager(Finance)
Membership no. F11264
Membership no. 015363
Place : Ranchi
Dated: 27th April, 2023

291
 STATEMENT OF CASH FLOW (INDIRECT METHOD) - CONSOLIDATED
FOR THE YEAR ENDED 31ST MARCH, 2023
(₹ in Crore)
For the year ended For the year ended
31.03.2023 31.03.2022
CASH FLOW FROM OPERATING ACTIVITIES
Profit before tax 3,751.74 2,097.76
Adjustments for :
Depreciation, Amortisation and Impairment expenses 682.98 647.55
Interest and Dividend Income (263.16) (106.09)
Finance cost 75.44 81.77
(Profit) / Loss on sale of Fixed Assets 0.02 (0.15)
Allowance for trade Receivables 92.13 —
Other Provisions — 3.41
Liability write back during the Year (352.32) (125.02)
Stripping Activity Adjustment 652.18 725.21
Operating Profit before Current/Non-Current Assets and Liabilities 4,639.01 3,324.44
Adjustment for:
Trade Receivables (Net of Provision) (851.52) 1,252.88
Inventories (112.96) 257.33
Loans and Advances and other financial assets (723.73) (458.77)
Trade Payables (248.52) 202.82
Financial and Other Liabilities 3,072.26 (258.40)
Cash Generated from Operation 5,774.54 4,320.30
Income Tax Paid/Refund (793.35) (389.30)
Net Cash Flow from Operating Activities (A) 4,981.19 3,931.00
CASH FLOW FROM INVESTING ACTIVITIES
Purchase of Property, Plant and Equipment (2,108.19) (1,963.09)
Addtion in Exploration and Evaluation Asset (110.26) (73.90)
Sale proceeds from Property, Plant and Equipment (2.37) (0.64)
Proceeds/(Investment) in Bank Deposit (1,236.66) (640.82)
Proceeds/(Investment) in Mutual Fund, Shares etc. (645.46) (64.61)
Investment in Subsidiary — —
Interest from Investment 233.48 76.57
Interest and Dividend income 19.90 8.85
Net Cash from Investing Activities (B) (3,849.56) (2,657.64)

292
 For the year ended For the year ended
31.03.2023 31.03.2022
CASH FLOW FROM FINANCING ACTIVITIES
Repayment/Increase in Borrowings 125.15 —
Interest & Finance cost pertaining to Financing Activities — —
Dividend on Equity shares (1,023.66) (782.08)
Tax on Dividend on Equity shares — —
Net Cash used in Financing Activities (C) (898. 51) (782.08)
Net Increase / (Decrease) in Cash & Bank Balances (A+B+C) 233.12 491.28
Cash & cash equivalents as at the beginning of the year 747.32 256.04
Cash & cash equivalents as at the end of the year 980.44 747.32

In terms of our Report of even date For and on Behalf of the Board

Sd/- Sd/-
For SPAN & ASSOCIATES (P. M. Prasad) (Pawan Kumar Mishra)
Chartered Accountants Chairman-cum-Managing Director Director (Finance)
(Firm Registration no.302192E) DIN 08073913 DIN- 09665365

Sd/- Sd/-
Sd/-
(CA K. Chakrabarti) (Amaresh Pradhan)
(Rajendra Singh)
Partner Company Secretary
General Manager(Finance)
Membership no. 015363 Membership no. F11264

Place: Ranchi
Dated: 27th April, 2023

293
 STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED
31ST MARCH, 2023 – CONSOLIDATED
A. EQUITY SHARE CAPITAL
As at 31.03.2023
Changes In Equity Share Re-stated
Balance as at Changes In Equity Share Balance as at
Particulars Capital due to prior balance as at
01.04.2022 Capital during the year 31.03.2023
period errors 01.04.2021
9400000 Equity Shares of ₹ 1000/- each 940.00 — 940.00 — 940.00
As at 31.03.2022
Changes In Equity Share Re-stated
Balance as at Changes In Equity Share Balance as at
Particulars Capital due to prior balance as at
01.04.2021 Capital during the year 31.03.2022
period errors 01.04.2020
9400000 Equity Shares of ₹ 1000/- each 940.00 — 940.00 — 940.00

B. OTHER EQUITY
As at 31.03.2023 (₹ in Crore)
Share Remeasurement Equity Non-
Application General Retained of Defined Attributable controlling
Particulars Total
Money pending Reserve Earnings Benefits Plans to Equity Interest
allotment (net of Tax) -
Balance as at 01.04.2022 — 2,392.00 5,309.25 (225.47) 7,475.78 99.45 7,575.23
Changes in Accounting Policy or prior period — — — — — — —
errors
Restated balance as at 01.04.2022 — 2,392.00 5,309.25 (225.47) 7,475.78 99.45 7,575.23
Total Comprehensive Profit — — 2,755.14 177.59 2,932.73 1.94 2,934.67
Interim Dividend — — (600.66) — (600.66) — (600.66)
Final Dividend — — (423.00) — (423.00) — (423.00)
Additions during the year — — — — — 90.87 90.87
Adjustments during the year — — (0.70) — (0.70) 0.61 (0.09)
Transfer to / from General reserve — 137.58 (137.58) — — — —
Buyback of Shares — — — — — — —
Tax on Buyback — — — — — — —
Issue of Bonus Shares — — — — — — —
Balance as at 31.03.2023 — 2529.58 6902.45 (47.88) 9,384.15 192.87 9,577.02

As at 31.03.2022 (₹ in Crore)
Share Remeasurment of Equity Non- Total
Particulars Application General Retained Defined Benefits Attributable controlling
Money pending Reserve Earnings Plans (Net of Tax) to Equity Interest
allotment Shareholder
Balance as at 01.04.2021 — 2,307.15 4,477.77 (174.08) 6,610.84 23.92 6,634.76
Changes in Accounting Policy or prior period — — — — — — —
errors
Restated balance as at 01.04.2021 — 2,307.15 4,477.77 (174.08) 6,610.84 23.92 6,634.76
Total Comprehensive Profit — — 1,698.41 (51.39) 1,647.02 0.53 1,645.55
Interim Dividend — — (404.20) — (404.20) — (404.20)
Final Dividend — — (377.88) — (377.88) — (377.88)
Additions during the year — — — — — 75.00 75.00
Adjustments during the year — 84.85 (84.85) — — — —
Transfer to / from General reserve — — — — — — —
Corporate Dividend Tax — — — — — — —
Buyback of Shares — — — — — — —
Tax on Buyback — — — — — — —
Issue of Bonus Shares — — — — — — —
Balance as at 31.03.2022 — 2,392.00 5,309.25 (225.47) 7,475.78 99.45 7,575.23

294
 Significant Accounting Policies

NOTES TO THE FINANCIAL STATEMENTS 2.2 Basis of Consolidation

NOTE 1: CORPORATE INFORMATION 2.2.1 Subsidiaries

Central Coalfields Limited (CCL), a Miniratna company, is Subsidiaries are all entities over which the Company
a 100% subsidiary of Coal India Limited (A Government of has control. The Company controls an entity when the
India Undertaking) having its registered office at Darbhanga Company is exposed to, or has rights to, variable returns
House, Ranchi, Jharkhand – 834029. from its involvement with the entity and has the ability to
affect those returns through its power to direct the relevant
The Company is mainly engaged in mining and production activities of the entity. Subsidiaries are fully consolidated
of Coal and also operates Coal washeries. The major from the date on which control is transferred to the
consumers of the company are power and steel sectors. Company. They are deconsolidated from the date when
Consumers from other sectors include cement, fertilisers, control ceases.
brick kilns etc.
The acquisition method of accounting is used to account
CCL has a joint venture agreement with IRCON International for business combinations by the Company.
Limited & Government of Jharkhand named Jharkhand
Central Railway Limited (JCRL). The basic objective of JCRL The Company combines the financial statements of the
is to build, construct, operate and maintain identified Rail parent and its subsidiaries line by line adding together
Corridor Projects that are critical for evacuation of coal like items of assets, liabilities, equity, cash flows, income
from mines in the State of Jharkhand which shall be used for and expenses. Inter-company transactions, balances
both freight and passenger services and to develop required and unrealised gains on transactions between group
rail infrastructure including construction of railway lines companies are eliminated. Unrealised losses between
group companies are also eliminated unless the transaction
together with all related facilities etc.
provides evidence of an impairment of the transferred asset.
NOTE 2: SIGNIFICANT ACCOUNTING POLICIES All the companies within the CCL normally uses accounting
policies as adopted by the CIL for like transactions and
2.1 Basis of preparation of financial statements
events in similar circumstances. In case of significant
i. The financial statements of the Company have been deviations of a particular constituent company within CIL
prepared in accordance with Indian Accounting Consolidated, appropriate adjustments are made to the
Standards (Ind AS) notified under the section 133 of financial statement of such constituent company to ensure
Companies Act, 2013 (“The Act”) Indian Accounting conformity with the CIL Consolidated accounting policies.
Standards) Rules, 2015.
Non-controlling interests in the results and equity of
ii. The Consolidated financial statements have been subsidiaries are shown separately in the consolidated
prepared on historical cost basis of measurement, statement of profit and loss, consolidated statement of
except for changes in equity and balance sheet respectively.
l certain financial assets and liabilities measured
2.2.2 Associates
at fair value (refer accounting policy on financial
instruments in para 2.15); Associates are all entities over which the Company has
significant influence but no control or joint control.
l Defined benefit plans- plan assets measured at
fair value; This is generally the case where the Company holds
l Inventories at Cost or NRV whichever is lower between 20% and 50% of the voting rights.
(refer accounting policy in para no. 2.21). Investments in associates are accounted for using
2.1.1 Rounding of Amounts the equity method of accounting, after initially being
recognised at cost, except when the investment, or a
Amounts in these financial statements have been, unless
portion thereof, classified as held for sale, in which caseit is
otherwise indicated, rounded off to ‘rupees in Crore’ upto
accounted in accordance with Ind AS 105.
two decimal points.

295
The Company impairs its net investment in the associates received or receivable from associates and joint ventures
on the basis of objective evidence. are recognised as a reduction in the carrying amount of
the investment.
2.2.3 Joint arrangements
When the Company’s share of losses in an equity-accounted
Joint arrangements are those arrangements where the
investment equals or exceeds its interest in the entity,
Company is having joint control with one or more other
including any other unsecured long-term receivables, the
parties.
Company does not recognise further losses, unless it has
Joint control is the contractually agreed sharing of control incurred obligations or made payments on behalf of the
of the arrangement which exist only when decisions about other entity.
the relevant activities require the unanimous consent of
Unrealised gains on transactions between the Company and
the parties sharing control.
its associates and joint ventures are eliminated to the extent
Joint Arrangements are classified as either joint operations of the Company’s interest in these entities. Unrealised
or joint ventures. The classification depends on the losses are also eliminated unless the transaction provides
contractual rights and obligations of each investor, rather evidence of an impairment of the asset transferred.
than the legal structure of the joint arrangement. Accounting policies of equity accounted investees have
been changed where necessary to ensure consistency with
2.2.4 Joint Operations
the policies adopted by the Company.
Joint operations are those joint arrangements whereby
2.2.7 Changes in ownership interests
the Company is having rights to the assets and obligations
for the liabilities relating to the arrangements. The Company treats transactions with non-controlling
interests that do not result in a loss of control as
Company recognises its direct right to the assets, liabilities,
transactions with equity owners of the Company. A
revenues and expenses of joint operations and its share of
change in ownership interest results in an adjustment
any jointly held or incurred assets, liabilities, revenues and
between the carrying amounts of the controlling and non-
expenses. These have been incorporated in the financial
controlling interests to reflect their relative interests in the
statements under the appropriate headings.
subsidiary. Any difference between the amount of the
2.2.5 Joint ventures adjustment to non-controlling interests and any fair value
Joint ventures are those joint arrangements whereby of consideration paid or received is recognised within
the Company is having rights to the net assets of the equity
arrangements. When the Company ceases to consolidate or equity
Interests in joint ventures are accounted for using the account for an investment because of a loss of control,
equity method, after initially being recognised at cost in joint control or significant influence, any retained interest in
the consolidated balance sheet. the entity is re-measured to its fair value with the change in
carrying amount recognised in profit or loss. This fair value
Investments in Joint venture are accounted for using becomes the initial carrying amount for the purposes of
the equity method of accounting, after initially being
subsequently accounting for the retained interest as an
recognized at cost, except when the investment, or a
associate, joint venture or financial asset. In addition, any
portion thereof, classified as held for sale, in which caseit is
amounts previously recognised in other comprehensive
accounted in accordance with Ind AS 105.
income in respect of that entity are accounted for as if
The Company impairs its net investment in the joint the Company had directly disposed of the related assets
venture on the basis of objective evidence. or liabilities. This may mean that amounts previously
2.2.6 Equity method recognised in other comprehensive income are reclassified
to profit or loss.
Under the equity method of accounting, the investments
are initially recognised at cost and adjusted thereafter to If the ownership interest in a joint venture or an associate is
recognise the Company’s share of the post-acquisition reduced but joint control or significant influence is retained,
profits or losses of the investee in profit and loss, and only a proportionate share of the amounts previously
the Company’s share of other comprehensive income of recognised in other comprehensive income are reclassified
the investee in other comprehensive income. Dividends to profit or loss where appropriate.

296
2.3 Current and non-current Classification b) The Company can identify each party’s rights
The Company presents assets and liabilities in the Balance regarding the goods or services to be transferred;
Sheet based on current/ non-current classification. An c) The Company can identify the payment terms for the
asset is treated as current by the Company when: goods or services to be transferred;
(a) It expects to realise the asset, or intends to sell or d) The contract has commercial substance (i.e. the risk,
consume it, in its normal operating cycle; timing or amount of the Company’s future cash flows
is expected to change as a result of the contract); and
(b) It holds the asset primarily for the purpose of trading;
e) It is probable that the Company will collect the
(c) It expects to realise the asset within twelve months
consideration to which it will be entitled in exchange
after the reporting period; or
forthe goods or services that will be transferred to the
(d) The asset is cash or a cash equivalent (as defined customer. The amount of consideration to which the
in Ind AS 7) unless the asset is restricted frombeing Company will be entitled may be less than the price
exchanged or used to settle a liability for at least stated in the contract if the considerationis variable
twelve months after the reporting period. All other because the Company may offer the customer a
assets are classified as non-current. price concession, discount, rebates, refunds, credits
A liability is treated as current by the Company when: or be entitled to incentives, performance bonuses, or
(a) It expects to settle the liability in its normal operating similar items.
cycle;
Combination of contracts
(b) It holds the liability primarily for the purpose of
The Company combines two or more contracts entered
trading;
into at or near the same time with the same customer
(c) the liability is due to be settled within twelve months (or related parties of the customer) and account for the
after the reporting period; or contracts as a single contract if one or moreof the following
(d) It does not have an unconditional right to defer criteria are met:
settlement of the liability for at least twelve months a) The contracts are negotiated as a package with a
after the reporting period. Terms of a liability that single commercial objective;
could, at the option of the counterparty, result in its
settlement by the issue of equity instruments do not b) the amount of consideration to be paid in one
affect its classification. contract depends on the price or performance of the
other contract; or
All other liabilities are classified as non-current.
c) The goods or services promised in the contracts
2.4 Revenue recognition (or some goods or services promised in each of the
contracts) are a single performance obligation.
Revenue from contracts with customers
Revenue from contracts with customers is recognized Contract modification
when control of the goods or services are transferred to The Company account for a contract modification as a
the customer at an amount that reflects the consideration separate contract if both of the following conditions are
to which the Company expects to be entitled in exchange present:
for those goods or services. The Company has generally
a) The scope of the contract increases because of the
concluded that it is the principal in its revenue arrangements
addition of promised goods or services that are
because it typically controls the goods or services before
distinct and
transferring them to the customer.
b) The price of the contract increases by an amount of
The principles in Ind AS 115 are applied using the following consideration that reflects the company’s stand-
five steps: alone selling prices of the additional promised goods
or services and any appropriate adjustments to that
Step 1: Identifying the contract price to reflect the circumstances of the particular
The Company account for a contract with a customer only contract.
when all of the following criteria are met:
Step 2: Identifying performance obligations
a) The parties to the contract have approved the contract
At contract inception, the Company assesses the goods or
and are committed to perform their respective
services promised in a contract with a customerand identify
obligations;
as a performance obligation each promise to transfer to

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the customer either: receives consideration from a customer and expects to
refund some or all of that consideration to the customer. A
a) A good or service (or a bundle of goods or services)
refund liability is measured at the amountof consideration
that is distinct; or
received (or receivable) for which the company does not
b) A series of distinct goods or services that are expect to be entitled (i.e. amounts not included in the
substantially the same and that have the same pattern transaction price). The refund liability (and corresponding
of transfer to the customer. change in the transaction price and, therefore, the contract
liability) is updated at the end of each reporting period for
Step 3: Determining the transaction price changes in circumstances.
The Company consider the terms of the contract and its After contract inception, the transaction price can change
customary business practices to determine thetransaction for various reasons, including the resolution of uncertain
price. The transaction price is the amount of consideration events or other changes in circumstances that change the
to which the company expects to be entitled in exchange amount of consideration to which the Company expects to
for transferring promised goods or services to a customer, be entitled in exchange for the promised goods or services.
excluding amounts collected onbehalf of third parties. The
consideration promised in a contract with a customer may Step 4: Allocating the transaction price
include fixed amounts, variable amounts, or both. The objective when allocating the transaction price is for
When determining the transaction price, a Company the Company to allocate the transaction price to each
consider the effects of all of the following: performance obligation (or distinct good or service) in
an amount that depicts the amount of consideration to
- Variable consideration; which the Company expects to be entitled in exchange
- Constraining estimates of variable consideration; for transferring the promised goods or services to the
customer.
- The existence of significant financing component; To allocate the transaction price to each performance
- Non – cash consideration; obligation on a relative stand-alone selling price basis,
the Company determines the stand-alone selling price at
- Consideration payable to a customer. contract inception of the distinct good or service underlying
An amount of consideration can vary because of discounts, each performance obligation in the contract and allocate
rebates, refunds, credits, price concessions, incentives, the transaction price in proportion to those stand-alone
performance bonuses, or other similar items. The promised selling prices.
consideration can also vary if the company’s entitlement to Step 5: Recognizing revenue
the consideration is contingent on the occurrence or non-
The Company recognizes revenue when (or as) the
occurrence of a future event. Company satisfies a performance obligation by transferring
In some contracts, penalties are specified. In such cases, a promised good or service to a customer. A good or service
penalties are accounted for as per the substance of the is transferred when (or as) the customer obtains control of
contract. Where the penalty is inherent in determination that good or service.
of transaction price, it form part of variable consideration. The Company transfers control of a good or service over
time and, therefore, satisfies a performance obligation
The Company includes in the transaction price some or all of and recognizes revenue over time, if one of the following
an amount of estimated variable consideration only to the criteria is met:
extent that it is highly probable that a significant reversal a) The customer simultaneously receives and
in the amount of cumulative revenue recognized will not consumes the benefits provided by the company’s
occur when the uncertainty associated with the variable performance as the Company performs;
consideration is subsequently resolved. b) The Company’s performance creates or enhances an
The Company does not adjust the promised amount of asset that the customer controls as the assetis created
consideration for the effects of a significant financing or enhanced;
component if it expects, at contract inception, that the c) The Company’s performance does not create an
period between when it transfers a promised goods or asset with an alternative use to the Company and the
service to a customer and when the customer pays for that Company has an enforceable right to payment for
good or service will be one year or less. performance completed to date.
For each performance obligation satisfied over time, the
The Company recognizes a refund liability if the Company

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Company recognizes revenue over time by measuring e) The customer has accepted the good or service.
the progress towards complete satisfaction of that When either party to a contract has performed, the Company
performance obligation. present the contract in the balance sheet as a contract
The Company applies a single method of measuring asset or a contract liability, depending on the relationship
progress for each performance obligation satisfied over between the company’s performance and the customer’s
time and the Company applies that method consistently payment. The Company present any unconditional rights to
to similar performance obligations and in similar consideration separately as a receivable.
circumstances. At the end of each reporting period, the
Company re-measure its progress towards complete Contract assets
satisfaction of a performance obligation satisfied over time. A contract asset is the right to consideration in exchange
Company apply output methods to recognize revenue for goods or services transferred to the customer. If the
on the basis of direct measurements of the value to Company performs by transferring goods or services to a
the customer of the goods or services transferred to date customer before the customer pays consideration or before
relative to the remaining goods or services promised under payment is due, a contract asset is recognized for the
the contract. Output methods include methods such as earned consideration that is conditional.
surveys of performance completed to date, appraisals of
results achieved, milestones reached, time elapsed and Trade receivables
units produced or units delivered.
A receivable represents the Company’s right to an amount
As circumstances change over time, the Company update of consideration that is unconditional (i.e., onlythe passage
its measure of progress to reflect any changes in the of time is required before payment of the consideration is
outcome of the performance obligation. Such changes to due).
the Company’s measure of progress is accounted for as a
change in accounting estimate in accordance with Ind AS 8, Contract liabilities
Accounting Policies, Changes in Accounting Estimates and
A contract liability is the obligation to transfer goods or
Error.
services to a customer for which the Company hasreceived
The Company recognizes revenue for a performance consideration (or an amount of consideration is due) from
obligation satisfied over time only if the Company the customer. If a customer pays consideration before the
can reasonably measure its progress towards complete Company transfers goods or services to the customer,
satisfaction of the performance obligation. When (or a contract liability is recognized when the payment
as) a performance obligation is satisfied, the company made or due (whichever is earlier). Contract liabilities are
recognize as revenue the amount of the transaction price recognized as revenue when the Company performs under
(which excludes estimates of variable consideration that
the contract.
are constrained that is allocated to that performance
obligation. Interest
If a performance obligation is not satisfied over time, the Interest income is recognised using the Effective Interest
Company satisfies the performance obligation at a point Method.
in time. To determine the point in time at which a customer
obtains control of a promised good or service and the Dividend
Company satisfies a performance obligation, the Company Dividend income from investments is recognised when the
consider indicators of the transfer of control, which include, rights to receive payment is established.
but are not limited to, the following:
Other Claims
a) The Company has a present right to payment for the
good or service; Other claims (including interest on delayed realization
b) The customer has legal title to the good or service; from customers) are accounted for, when there iscertainty
of realisation and can be measured reliably.
c) The Company has transferred physical possession of
the good or service; 2.5 Grants from Government
d) The customer has the significant risks and rewards of Government Grants are not recognised until there is
ownership of the good or service; reasonable assurance that the company will comply

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with the conditions attached to them and that there is the right-to-use asset from the commencement date to
reasonable certainty that grants will be received. the earlier of the end of the useful life of the right-of-use
asset or the end of the lease term.
Government grants are recognised in Statement of Profit
& Loss on a systematic basis over the periods in which the 2.6.2 Company as a lessor
company recognises as expenses the related costs for
All leases as either an operating lease or a finance lease.
which the grants are intended to compensate.
A lease is classified as a finance lease if it transfers
Government Grants related to assets are presented in the
substantially all the risks and rewards incidental to
balance sheet by setting up the grant as deferred income
ownership of an underlying asset. A lease is classified as an
and are recognised in Statement of Profit and Loss on
operating lease if it does not transfer substantially all the
systematic basis over the useful life of asset.
risks and rewards incidental to ownership of an underlying
Grants related to income (i.e. grant related to other than asset.
assets) are presented as part of statement of profit and loss
Operating leases- Lease payments from operating leases
under the head ‘Other Income’.
are recognised as income on either a straight- line basis
A government grant/assistance that becomes receivable as unless another systematic basis is more representative of
compensation for expenses or losses already incurred or the pattern in which benefit from the use of the underlying
for the purpose of giving immediate financial support to asset is diminished.
the Company with no future related costs, is recognised in
Finance leases- assets held under a finance lease is initially
profit or loss of the period in which it becomes receivable.
recognised in its balance sheet and present them as a
The Government grants or grants in the nature of receivable at an amount equal to the net investment in the
promoter’s contribution should be recognised directly in lease using the interest rate implicit in thelease to measure
“Capital Reserve” which forms part of the “Shareholders the net investment in the lease.
fund”.
2.7 Non-current assets held for sale
2.6 Leases The Company classifies non-current assets and (or disposal
A contract is, or contains, a lease if the contract conveys the groups) as held for sale if their carrying amounts will be
right to control the use of an identified assetsfor a period of recovered principally through a sale rather than through
time in exchange for consideration. continuing use. Actions required to complete the sale
should indicate that it is unlikely that significant changes
2.6.1 Company as a lessee
to the sale will be made or that thedecision to sell will be
At the commencement date, a lessee shall recognise a withdrawn. Management must be committed to the sale
right-of-use asset at cost and a lease liability at the present expected within one year from the date of classification.
value of the lease payments that are not paid at that date
For these purposes, sale transactions include exchanges
for all leases unless the lease term is 12 months or less or
of non-current assets for other non-current assets when
the underlying asset is of low value.
the exchange has commercial substance. The criteria for
Subsequently, right-of-use asset is measured using cost held for sale classification is regarded met only when the
model whereas, the lease liability is measured by increasing assets or disposal group is available for immediate sale in
the carrying amount to reflect interest on the lease liability, its present condition, subject only to terms that are usual
reducing the carrying amount to reflect thelease payments and customary for sales of such assets (or disposal groups),
made and remeasuring the carrying amount to reflect any its sale is highly probable; and it will genuinely be sold,
reassessment or lease modifications. not abandoned. The Company treats sale of the asset or
disposal group to be highly probable when:
Finance charges are recognised in finance costs in the
Statement of Profit and Loss, unless the costs are included l The appropriate level of management is
in the carrying amount of another asset applying other committed to a plan to sell the asset (or disposal
applicable standards. group),
Right-of-use asset is depreciated over the useful life of l An active programme to locate a buyer and
the asset, if the lease transfers ownership of the asset to complete the plan has been initiated
the lessee by the end of the lease term or if the cost of l The asset (or disposal group) is being actively
the right-to-use asset reflects that the lessee will exercise marketed for sale at a price that is reasonable in
a purchase option. Otherwise, the lessee shall depreciate relation to its current fair value,

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 l The sale is expected to qualify for recognition as When major inspection is performed, its cost is recognised
a completed sale within one year from the date in the carrying amount of the item of property, plant and
of classification, and equipment as a replacement if it is probable that future
l Actions required to complete the plan indicate economic benefits associated with the item will flow to
that it is unlikely those significant changes to the Company; and the cost of the item can be measured
the plan will be made or that the plan will be reliably. Any remaining carrying amount ofthe cost of the
withdrawn. previous inspection (as distinct from physical parts) is
derecognised.
2.8 Property, Plant and Equipment (PPE)
An item of Property, plant or equipment is derecognised
Land is carried at historical cost. Historical cost includes upon disposal or when no future economic benefits are
expenditure which are directly attributable to the expected from the continued use of assets. Any gain or
acquisition of the land like, rehabilitation expenses, loss arising on such de-recognition of an item of property
resettlement cost and compensation in lieu of employment plant and equipment is recognised in profit and Loss.
incurred for concerned displaced persons etc.
Depreciation on property, plant and equipment, except
After recognition, an item of all other Property, plant and
freehold land, is provided as per cost model on straight
equipment are carried at its cost less any accumulated
line basis over the estimated useful lives of the asset as
depreciation and any accumulated impairment losses
follows:
under Cost Model. The cost of an item of property, plant
and equipment comprises: Other Land : Life of the project or
(a) Its purchase price, including import duties and non- (incl. Leasehold Land) lease term whichever is
refundable purchase taxes, after deducting trade lower
discounts and rebates. Building : 3-60 years
(b) Any costs directly attributable to bringing the asset Roads : 3-10 years
to the location and condition necessary for it to be Telecommunication : 3-9 years
capable of operating in the manner intended by
management. Railway Sidings : 15 years
(c) The initial estimate of the costs of dismantling and Plant and Equipment : 5-30 years
removing the item and restoring the site on which it is
Computers and Laptops : 3 Years
located, the obligation for which the Company incurs
either when the item is acquired or as aconsequence Office equipment : 3-6 years
of having used the item during a particular period for
Furniture and Fixtures : 10 years
purposes other than to produce inventories during
that period. Vehicles : 8-10 years
Each part of an item of property, plant and equipment with Based on technical evaluation, the management believes
a cost that is significant in relation to the total cost of the that the useful lives given above best representsthe period
item depreciated separately. However, significant part(s) over which the management expects to use the asset.
of an item of PPE having same useful lifeand depreciation Hence the useful lives of the assets may be different from
method are grouped together in determining the useful lives as prescribed under Part C of schedule II of
depreciation charge. companies act, 2013.
Costs of the day to-day servicing described as for the The estimated useful life of the assets is reviewed at the
‘repairs and maintenance’ are recognised in the statement end of each financial year.
of profit and loss in the period in which the same are
incurred. The residual value of Property, Plant and Equipment is
considered as 5% of the original cost of the asset except
Subsequent cost of replacing parts significant in relation to
some items of assets such as, Coal tub, winding ropes,
the total cost of an item of property, plant and equipment
haulage ropes, stowing pipes & safety lamps etc. for which
are recognised in the carrying amount of the item, if it is
the technically estimated useful life has been determined
probable that future economic benefits associated with
to be one year with nil residual value.
the item will flow to the Company; and the cost of the item
can be measured reliably. The carrying amount of those Depreciation on the assets added / disposed of during the
parts that are replaced is derecognised in accordance with year is provided on pro-rata basis with reference to the
the de-recognition policymentioned below. month of addition / disposal.

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Value of “Other Land” includes land acquired under Coal The value of the provision is progressively increased over
Bearing Area (Acquisition & Development) (CBA) Act, 1957, time as the effect of discounting unwinds; creating an
Land Acquisition Act, 1894, Right to Fair Compensation expense recognised as financial expenses.
and Transparency in Land Acquisition, Rehabilitation and
Further, a specific escrow fund account is maintained for
Resettlement (RFCTLAAR) Act, 2013, Long term transfer
this purpose as per the approved mine closure plan.
of government land etc., which is amortised on the basis
of the balance life of the project; and in case of Leasehold The progressive mine closure expenses incurred on year to
land such amortisation is based on lease period or balance year basis forming part of the total mine closure
life of the project whichever is lower.
obligation is initially recognised as receivable from escrow
Fully depreciated assets, retired from active use are account and thereafter adjusted with the obligation
disclosed separately as surveyed off assets at its residual in the year in which the amount is withdrawn after the
value under Property, Plant and Equipment and are tested concurrence of the certifying agency.
for impairment.
2.10 Exploration and Evaluation Assets
Capital Expenses incurred by the company on construction/
Exploration and evaluation assets comprise capitalised
development of certain assets which are essential for
costs which are attributable to the search for coal and
production, supply of goods or for the access to any existing
related resources, pending the determination of technical
Assets of the company are recognised as Enabling Assets
feasibility and the assessment of commercial viability
under Property, Plant and Equipment.
of an identified resource which comprises inter alia the
following:
Transition to Ind AS
The company elected to continue with the carrying l acquisition of rights to explore
value as per cost model (for all of its property, plant and l researching and analysing historical exploration
equipment as recognised in the financial statements as data;
at the date of transition to Ind ASs, measured as per the l gathering exploration data through
previous GAAP. topographical, geo chemical and geo physical
studies;
2.9 Mine Closure, Site Restoration and Decommissioning l exploratory drilling, trenching and sampling;
Obligation l determining and examining the volume and
The company’s obligation for land reclamation and grade of the resource;
decommissioning of structures consists of spending at l surveying transportation and infrastructure
both surface and underground mines in accordance with requirements;
the guidelines from Ministry of Coal, Government of India. l Conducting market and finance studies.
The company estimates its obligation for Mine Closure, Site The above includes employee remuneration, cost of
Restoration and Decommissioning based upon detailed materials and fuel used, payments to contractors etc.
calculation and technical assessment of the amount and
timing of the future cash spending to performthe required As the intangible component represents an insignificant/
work. Mine Closure expenditure is provided as per indistinguishable portion of the overall expected tangible
costs to be incurred and recouped from future exploitation,
approved Mine Closure Plan. The estimates of expenses
these costs along with other capitalised exploration costs
are escalated for inflation, and then discounted at a
are recorded as exploration and evaluation asset.
discount rate that reflects current market assessment of
the time value of money and the risks, such that the amount Exploration and evaluation costs are capitalised on a
of provision reflects the present value of the expenditures project by project basis pending determination of technical
expected to be required to settle the obligation. The feasibility and commercial viability of the project and
company records a corresponding asset associated with disclosed as a separate line item under non-current assets.
the liability for final reclamation and mine closure. The They are subsequently measured at cost less accumulated
obligation and corresponding assets are recognised in impairment/provision.
the period in which the liability is incurred. The asset Once proved reserves are determined and development
representing the total site restoration cost (as estimated by of mines/project is sanctioned, exploration andevaluation
Central Mine Planning and Design Institute Limited) as per assets are transferred to “Development” under capital work
mine closure plan is recognised as a separate item in PPE in progress. However, if proved reservesare not determined,
and amortised over the balance project/mine life. the exploration and evaluation asset is derecognised.

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2.11 Development Expenditure intangible asset with a finite useful life are reviewed at least
When proved reserves are determined and development at the end of eachreporting period. Changes in the expected
of mines/project is sanctioned, capitalised exploration useful life or the expected pattern of consumption of future
and evaluation cost is recognised as assets under economic benefits embodied in the asset are considered to
construction and disclosed as a component of capital modify the amortisation period or method, as appropriate,
work in progress under the head “Development”. All and are treated as changes in accounting estimates. The
subsequent development expenditure is also capitalised. amortisation expense on intangible assets with finite lives
The development expenditure capitalised is net of is recognised in the statement of profit and loss.
proceeds from the sale of coal extracted during the An intangible asset with an indefinite useful life is not
development phase. amortised but is tested for impairment at each reporting
date.
Commercial Operation
Gains or losses arising from de-recognition of an intangible
The project/mines are brought to revenue; when commercial
asset are measured as the difference between the net
readiness of a project/mine to yield production on a
disposal proceeds and the carrying amount of the asset
sustainable basis is established either on the basis of and are recognised in the statement of profit and loss.
conditions specifically stated in the project report oron the
basis of the following criteria: Exploration and Evaluation assets attributable to blocks
identified for sale or proposed to be sold to outside
(a) From beginning of the financial year immediately after agencies (i.e. for blocks not earmarked for CIL) are however,
the year in which the project achieves physicaloutput classified as Intangible Assets and testedfor impairment.
of 25% of rated capacity as per approved project
report, or Research and Development is recognised as an expenditure
as and when incurred.
(b) 2 years of touching of coal, or
(c) From the beginning of the financial year in which the 2.13 Impairment of Assets (other than financial assets)
value of production is more than total, expenses. The Company assesses at the end of each reporting
Whichever event occurs first; period whether there is any indication that an asset may
be impaired. If any such indication exists, the Company
On being brought to revenue, the assets under capital work
estimates the recoverable amount of the asset. An asset’s
in progress are reclassified as a component of property, plant
recoverable amount is the higher of the asset’s or cash-
and equipment under the nomenclature “Other Mining
generating unit’s value in use and its fair value less costs of
Infrastructure”. Other Mining Infrastructure are amortised
disposal, and is determined for an individual asset, unless
from the year when the mine is brought under revenue in the asset does not generate cash inflows that are largely
20 years or working life of the project whichever is less. independent of those from other assets or groups of assets,
in which case the recoverableamount is determined for the
2.12 Intangible Assets
cash-generating unit to which the asset belongs.Company
Intangible assets acquired separately are measured on considers individual mines as separate cash generating
initial recognition at cost. The cost of intangible assets units for the purpose of test of impairment.
acquired in a business combination is their fair value at the
If the recoverable amount of an asset is estimated to be less
date of acquisition. Following initial recognition, intangible
than its carrying amount, the carrying amount of the asset
assets are carried at cost less any accumulated amortisation
is reduced to its recoverable amount and the impairment
(calculated on a straight-line basis over their useful lives)
loss is recognised in the Statement of Profit and Loss.
and accumulated impairment losses, if any.
2.14 Investment Property
Internally generated intangibles, excluding capitalised
development costs, are not capitalised. Instead, the related Property (land or a building or part of a building or both)
expenditure is recognised in the statement of profit and loss held to earn rentals or for capital appreciation or both,
and other comprehensive income in theperiod in which the rather than for, use in the production or supply of goods
expenditure is incurred. The useful lives of intangible assets or services or for administrative purposes; or sale in the
are assessed as either finite or indefinite. Intangible assets ordinary course of businesses are classified as investment
with finite lives are amortised over their useful economic property.
lives and assessed for impairment whenever there is an Investment property is measured initially at its cost, including
indication that the intangible asset may be impaired. The related transaction costs and where applicable borrowing
amortisation period and the amortisation method for an costs.

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Investment properties are depreciated using the straight- 2.15.2.2 Debt instrument at FVTOCI
line method over their estimated useful lives.
A ‘debt instrument’ is classified as at the FVTOCI if both of
2.15 Financial Instruments the following criteria are met:
A financial instrument is any contract that gives rise to a a) The objective of the business model is achieved both
financial asset of one entity and a financial liability or equity by collecting contractual cash flows and selling the
instrument of another entity. financial assets, and
2.15.1 Financial assets b) The asset’s contractual cash flows represent SPPI.

2.15.1 Initial recognition and measurement Debt instruments included within the FVTOCI category are
measured initially as well as at each reporting date at fair
All financial assets are recognised initially at fair value, in the value. Fair value movements are recognized in the other
case of financial assets not recorded at fair value through comprehensive income (OCI). However, the Company
profit or loss, plus transaction costs that are attributable recognizes interest income, impairment losses & reversals
to the acquisition of the financial asset. Purchases or sales and foreign exchange gain or loss in the P&L. On de-
of financial assets that require delivery of assets within a recognition of the asset, cumulative gain or loss previously
time frame established by regulation or convention in the recognised in OCI is reclassified from the equity to P&L.
market place (regular way trades) are recognised on the
Interest earned whilst holding FVTOCI debt instrument is
trade date, i.e., the date that the Company commits to
reported as interest income using the EIR method.
purchase or sell the asset.
2.15.2.3 Debt instrument at FVTPL
2.15.2 Subsequent measurement
FVTPL is a residual category for debt instruments. Any
For purposes of subsequent measurement, financial assets
are classified in four categories: debt instrument, which does not meet the criteria for
categorization as at amortized cost or as FVTOCI, is
l Debt instruments at amortised cost classified as at FVTPL.
l Debt instruments at fair value through other
In addition, the Company may elect to designate a debt
comprehensive income (FVTOCI)
instrument, which otherwise meets amortized cost or
l Debt instruments, derivatives and equity FVTOCI criteria, as at FVTPL. However, such election
instruments at fair value through profit or loss is allowed only if doing so reduces or eliminates a
(FVTPL) measurement or recognition inconsistency (referred to as
l Equity instruments measured at fair value ‘accounting mismatch’). The Company has not designated
through other comprehensive income (FVTOCI) any debt instrument as at FVTPL.
2.15.2.1 Debt instruments at amortised cost Debt instruments included within the FVTPL category are
measured at fair value with all changes recognized in the
A ‘debt instrument’ is measured at the amortised cost if
both the following conditions are met: P&L.

a) The asset is held within a business model whose 2.15.2.4 Equity investments in subsidiaries, associates
objective is to hold assets for collecting contractual and Joint Ventures
cash flows, and In accordance of Ind AS 101 (First time adoption of Ind AS),
b) Contractual terms of the asset give rise on specified the carrying amount of these investments as per previous
dates to cash flows that are solely payments of GAAP as on the date of transition is considered to be the
principal and interest (SPPI) on the principal amount deemed cost. Subsequently Investment in subsidiaries,
outstanding. associates and joint ventures are measured at cost.
After initial measurement, such financial assets are In case of consolidated financial statement, Equity
subsequently measured at amortised cost using the investments in associates and joint ventures are accounted
effective interest rate (EIR) method. Amortised cost is as per equity method as prescribed in para 10 of Ind AS 28.
calculated by taking into account any discount or premium
on acquisition and fees or costs that are an integral part of 2.15.2.5 Other Equity Investment
the EIR. The EIR amortisation is included in finance income All other equity investments in scope of Ind AS 109 are
in the profit or loss. The losses arising from impairment are measured at fair value through profit or loss.
recognised in the profit or loss.

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For all other equity instruments, the Company may make 2.15.2.7 Impairment of financial assets (other than
an irrevocable election to present in other comprehensive fair value)
income subsequent changes in the fair value. The Company In accordance with Ind AS 109, the Company applies
makes such election on an instrument by instrument basis. expected credit loss (ECL) model for measurement and
The classification is made on initial recognition and is recognition of impairment loss on the following financial
assets and credit risk exposure:
irrevocable.
If the Company decides to classify an equity instrument as a) Financial assets that are debt instruments, and
are measured at amortised cost e.g., loans, debt
at FVTOCI, then all fair value changes on the instrument,
securities, deposits, trade receivables and bank
excluding dividends, are recognized in the OCI. There is balance
no recycling of the amounts from OCI to P&L even on sale
b) Financial assets that are debt instruments and are
of investment. However, the Company may transfer the measured as at FVTOCI
cumulative gain or loss within equity.
c) Lease receivables under Ind AS 116
Equity instruments included within the FVTPL category are d) Trade receivables or any contractual right to receive
measured at fair value with all changes recognized in the P&L. cash or another financial asset that result from
2.15.2.6 De-recognition transactions that are within the scope of Ind AS 115
A financial asset (or, where applicable, a part of a financial The Company follows ‘simplified approach’ for recognition
asset or part of a group of similar financial assets) is of impairment loss allowance on:
primarily derecognised (i.e. removed from the balance l Trade receivables or contract revenue receivables; and
sheet) when: l All lease receivables resulting from transactions
l The rights to receive cash flows from the asset have within the scope of Ind AS 116
expired, or The application of simplified approach does not require
l The Company has transferred its rights to receive cash the Company to track changes in credit risk. Rather, it
flows from the asset or has assumed an obligation recognises impairment loss allowance based on lifetime
to pay the received cash flows in full without ECLs at each reporting date, right from its initial recognition.
material delay to a third party under a ‘pass-through’ 2.15.3 Financial liabilities
arrangement; and either (a) the Company has 2.15.3.1 Initial recognition and measurement
transferred substantially all the risks and rewards of
The Company’s financial liabilities include trade and other
the asset, or (b) the Company has neither transferred payables, loans and borrowings including bank overdrafts.
nor retained substantially all therisks and rewards of
All financial liabilities are recognised initially at fair value
the asset, but has transferred control of the asset. and, in the case of loans and borrowings and payables, net
When the Company has transferred its rights to receive of directly attributable transaction costs.
cash flows from an asset or has entered into a pass- 2.15.3.2 Subsequent measurement
through arrangement, it evaluates if and to what extent The measurement of financial liabilities depends on their
it has retained the risks and rewards of ownership. When classification, as described below: :
it has neither transferred nor retained substantially all of
2.15.3.3 Financial liabilities at fair value through profit
the risks and rewards of the asset, nor transferred control or loss
of the asset, the Company continues to recognise the
Financial liabilities at fair value through profit or loss include
transferred asset to the extent of the Company’scontinuing
financial liabilities held for trading and financial liabilities
involvement. In that case, the Company also recognises an designated upon initial recognition as at fair value through
associated liability. The transferred asset and the associated profit or loss. Financial liabilities are classified as held for
liability are measured on a basis that reflects the rights and trading if they are incurred for the purpose of repurchasing in
obligations that the Company has retained. Continuing the near term.This category also includes derivative financial
involvement that takes the form of a guarantee over the instruments entered into by the Company that are not
transferred asset is measured at the lower of the original designated as hedging instruments in hedge relationships
carrying amount of the asset and the maximum amount as defined by Ind AS 109. Separated embedded derivatives
of consideration that the Company could be required to are also classified as held for trading unless they are
repay. designated as effective hedging instruments.

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Gains or losses on liabilities held for trading are recognised the terms of an existing liability are substantially modified,
in the profit or loss. such an exchange or modification is treated as the de-
Financial liabilities designated upon initial recognition at recognition of the original liability and the recognition
fair value through profit or loss are designated as such at of a new liability. The difference between the carrying
the initial date of recognition, and only if the criteria in Ind amount of a financial liability (or part of a financial
AS 109 are satisfied. For liabilities designated as FVTPL, liability) extinguished or transferred to another party
fair value gains/ losses attributable to changes in own and the consideration paid, including any non-cash assets
credit risk are recognized in OCI. These gains/ loss are not transferred or liabilities assumed, shall be recognised in
subsequently transferred to P&L. However, the Company profit or loss.
may transfer the cumulative gain or loss within equity. All 2.15.4 Reclassification of financial assets
other changes in fair value of such liability are recognised
The Company determines classification of financial assets
in the statement of profit and loss. The Company has not
and liabilities on initial recognition. After initial recognition,
designated any financial liability as at fair value through
no reclassification is made for financial assets which are
profit and loss.
equity instruments and financial liabilities. For financial
2.15.3.4 Financial liabilities at amortised cost assets which are debt instruments, a reclassification is
After initial recognition, these are subsequently measured made only if there is a change in the business model for
at amortised cost using the effective interest rate method. managing those assets. Changes to the business model
Gains and losses are recognised in profit or loss when are expected to be infrequent. The Company’s senior
the liabilities are derecognised as well as through the management determines change in the business model as
effective interest rate amortisation process. Amortised a result of external or internal changes which are significant
cost is calculated by taking into account any discount to the Company’s operations. Such changes are evident to
or premium on acquisition and fees or costs that are an external parties. A change in the business model occurs
integral part of the effective interest rate. The effective when the Company either begins or ceases to perform
interest rate amortisation is included as finance costs in the an activity that is significant to its operations. If Company
statement of profit and loss. This category generally applies reclassifies financial assets, it applies the reclassification
to borrowings. prospectively from the reclassification date which is the
2.15.3.5 De-recognition first day of the immediately next reporting period following
the change in business model. The Company does not
A financial liability is derecognised when the obligation
restate any previously recognised gains, losses (including
under the liability is discharged or cancelled or expires.
impairment gains or losses) or interest.
When an existing financial liability is replaced by another
from the same lender on substantially different terms, or
The following table shows various re-classifications and how they are accounted for

Original Revised
Accounting treatment
classification classification
Amortised cost FVTPL Fair value is measured at reclassification date. Difference between
previous amortized cost and fair value is recognised in P&L.
FVTPL Amortised Cost Fair value at reclassification date becomes its new gross carrying
amount. EIR is calculated based on the new gross carrying amount.
Amortised cost FVTOCI Fair value is measured at reclassification date. Difference between
previous amortised cost and fair value is recognised n
i OCI. No change
in EIR due to reclassification.
Fair value at reclassification date becomes its new amortised cost
FVTOCI Amortised cost carrying amount. However, cumulative gain or loss in OCI is adjusted
against fair value. Consequently, the asset is measured as if it had
always been measured at amortised cost.
FVTPL FVTOCI Fair value at reclassification date becomes its new carrying amount.
No other adjustment is required.
Assets continue to be measured at fair value. Cumulative gain or loss
FVTOCI FVTPL previously recognized in OCI is reclassified to P&L atthe reclassification
date.

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2.15.6 Offsetting of financial instruments Deferred tax liabilities are recognised for taxable
Financial assets and financial liabilities are offset and the temporary differences associated with investments in
net amount is reported in the consolidated balance sheet subsidiaries and associates, except where the company
if there is a currently enforceable legal right to offset the is able to control the reversal of the temporary difference
recognised amounts and there is an intention to settle on and it is probable that the temporary difference will not
a net basis, to realise the assets and settle the liabilities reverse in the foreseeable future. Deferred tax assets
simultaneously. arising from deductible temporary differences associated
with such investments and interests are only recognised to
2.15.6 Cash & Cash Equivalents
the extent that it is probable that there will be sufficient
Cash and cash equivalent in the balance sheet comprise taxable profits against which to utilise the benefits of the
cash at banks and on hand and short-term deposits with an temporary differences.
original maturity of three months or less, which are subject
The carrying amount of deferred tax assets is reviewed
to an insignificant risk of changesin value. For the purpose
at the end of each reporting period and reduced to the
of the consolidated statement of cash flows, cash and
extent that it is no longer probable that sufficient taxable
cash equivalents consist of cash and short-term deposits,
as defined above, net of outstanding bank overdrafts as profits will be available to allow all or part of the asset to be
they are considered an integral part of the company’s cash recovered. Unrecognised deferred tax assets are reassessed
management. at the end of each reporting year and are recognised to the
extent that it has become probable that sufficient taxable
2.16. Borrowing Costs profit will be available to allow all or part of the deferred
tax asset to be recovered.
Borrowing costs are expensed as and when incurred except
where they are directly attributable to the acquisition, Deferred tax assets and liabilities are measured at the tax
construction or production of qualifying assets i.e. the assets rates that are expected to apply in the periodin which the
that necessarily takes substantial period of time to get ready liability is settled or the asset is realised, based on tax rate
for its intended use, in which case they are capitalised as (and tax laws) that have been enacted or substantively
part of the cost of those asset up to the date when the enacted by the end of the reporting period.
qualifying asset is ready for its intended use.
The measurement of deferred tax liabilities and assets reflects
2.17 Taxation the tax consequences that would follow fromthe manner in
which the company expects, at the end of the reporting
Income tax expense represents the sum of the tax currently
period, to recover or settle the carrying amount of its
payable and deferred tax.
assets and liabilities.
Current tax is the amount of income taxes payable
(recoverable) in respect of the taxable profit (tax loss) for Current and deferred tax are recognised in profit or loss,
a period. Taxable profit differs from “profit before income except when they relate to items that are recognised in
tax” as reported in the statement of profit and loss and other comprehensive income or directly in equity, in which
other comprehensive income because it excludes items case, the current and deferred tax are also recognised
of income or expense that are taxable or deductible in in other comprehensive income or directly in equity
other years and it further excludes items that are never respectively. Where current tax or deferred tax arises from
taxable or deductible. The company’s liability for current the initial accounting for a business combination, the
tax is calculated using tax rates that have been enacted or tax effect is included in the accounting for the business
substantively enacted by the end of the reporting period. combination.
Deferred tax liabilities are generally recognised for all
taxable temporary differences. Deferred tax assets are 2.18 Employee Benefits
generally recognised for all deductible temporary 2.18.1 Short-term Benefits
difference to the extent that it is probable that taxable
Short-term employee benefits are employee benefits
profits will be available against which those deductible
temporary differences can be utilised. Such assets and (other than termination benefits) that are expected to be
liabilities are not recognised if the temporary difference settled wholly before twelve months after the end of the
arises from goodwill or from the initial recognition (other annual reporting period in which the employees render
than in a business combination) of other assets and the related service.
liabilities in a transaction that affects neither the taxable All short term employee benefits are recognized in the
profit nor the accounting profit. period in which the services are rendered by employees.

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2.18.2 Post-employment benefits and other long benefit payments. Net interest expense and other expenses
term employee benefits related to defined benefit plans are recognised in profit
and loss.
2.18.2.1 Defined contributions plans
When the benefits of the plan are improved, the portion of
A defined contribution plan is a post-employment benefit
the increased benefit relating to past service by employees
plan under which the company pays fixed contribution
is recognised as expense immediately in the statement of
into fund maintained by a separate body and the company
profit and loss.
will have no legal or constructive obligation to pay
further amounts. Obligations for contributions to defined 2.18.3 Other long term Employee Benefits
contribution plans are recognised as an employee benefit
Other long-term employee benefits are all employee
expense in the statement of profit and loss in the periods
benefits other than short-term employee benefits, post-
during which services are rendered by employees.
employment benefits and termination benefits.
2.18.2.2 Defined benefits plans
Other long-term employee benefits include items which
A defined benefit plan is a post-employment benefit plan are not expected to be settled wholly before twelve
other than a defined contribution plan. The company’s net months after the end of the annual reporting period in
obligation in respect of defined benefit plans is calculated which the employees render the related service.
by estimating the amount of future benefit that employees
For other long-term employee benefits, net total of the
have earned in return of their service in the current and
following amounts is recognized in the statement of profit
prior periods. The benefit is discounted to determine its
or loss:
present value and reduced by the fair value of plan assets,
if any. The discount rate is based on the prevailing market (a) Service cost
yields of Indian Government securities as at the reporting (b) Net interest on the net defined benefit liability (asset)
date that have maturity dates approximating the terms of
(c) Re-measurements of the net defined benefit liability
the company’s obligations and that are denominated in
(asset)
the same currency in which the benefits are expected to
be paid. 2.19 Foreign Currency
The application of actuarial valuation involves making The company’s reported currency and the functional
assumptions about discount rate, expected ratesof return currency for majority of its operations is in Indian Rupees
on assets, future salary increases, mortality rates etc. Due (INR) being the principal currency of the economic
to the long term nature of these plans, such estimates are environment in which it operates.
subject to uncertainties. The calculation is performed at
Transactions in foreign currencies are converted into the
each balance sheet by an actuary using the projected
reported currency of the company using the exchange
unit credit method. When the calculation results in to the
rate prevailing at the transaction date. Monetary assets and
benefit to the company, the recognisedasset is limited to
liabilities denominated in foreign currencies outstanding
the present value of the economic benefits available in the
at the end of the reporting period are translated at the
form of any future refunds from the plan or reduction in
exchange rates prevailing as at the end of reporting
future contributions to the plan. An economic benefit is
period. Exchange differences arising on the settlement of
available to the company if it isrealisable during the life of
monetary assets and liabilities or on translating monetary
the plan, or on settlement of plan liabilities.
assets and liabilities at rates different from those at which
Re-measurement of the net defined benefit liability, which they were translated on initial recognition during the
comprise actuarial gain and losses considering the return period or in previous financial statements are recognised
on plan assets (excluding interest) and the effects of the in statement of profit and loss in the period in which they
assets ceiling (if any, excluding interest) are recognised arise.
immediately in the other comprehensive income. The
Non-monetary items denominated in foreign currency
company determines the net interest expense (income)
are valued at the exchange rates prevailing on the date of
on the net defined benefit liability (asset) for the period
transactions.
by applying the discount rate used to measure the defined
benefit obligation at the beginning of the annual period
2.20 Stripping Activity Expense/Adjustment
to the then net defined benefit liability (asset), taking into
account any changes in the net defined benefit liability In case of opencast mining, the mine waste materials
(asset) during the period as a result of contributions and (“overburden”) which consists of soil and rock on the top

308
of coal seam is required to be removed to get access to the considered as a part of stock of coal.
coal and its extraction. This waste removalactivity is known
Coal & coke-fines are valued at lower of cost or net
as ‘Stripping’. In opencast mines, the company has to incur
such expenses over the life of the mine (as technically realisable value and considered as a part of stock of coal.
estimated). Slurry (coking/semi-coking), middling of washeries and by
Therefore, as a policy, in the mines with rated capacity of products are valued at net realisable value andconsidered
one million tonnes per annum and above, costof Stripping as a part of stock of coal.
is charged on technically evaluated average stripping ratio 2.21.2 Stores & Spares
(OB: COAL) at each mine with due adjustment for stripping
activity asset and ratio-variance account after the mines The Stock of stores & spare parts (which also includes loose
are brought to revenue. tools) at central & area stores are considered as per balances
appearing in priced stores ledger and are valued at cost
Net of balances of stripping activity asset and ratio variance
calculated on the basis of weighted average method. The
at the Balance Sheet date is shown as Stripping Activity
Adjustment under the head Non - Current Provisions / inventory of stores & spare parts lying at collieries / sub-
Other Non-Current Assets as the case may be. stores / drilling camps/ consuming centres are considered
at the year-end only as per physically verified stores and
The reported quantity of overburden as per record is are valued at cost.
considered in calculating the ratio for OBR accounting where
the variance between reported quantity and measured Provisions are made at the rate of 100% for unserviceable,
quantity is within the permissible limits, as detailed damaged and obsolete stores and spares and at the rate of
hereunder:- 50% for stores & spares not moved for 5 yea₹

Annual Quantum of OBR Permissible limits of 2.21.3 Other Inventories

Of the Mine variance Workshop jobs including work-in-progress are valued
(%) at cost. Stock of press jobs (including work in progress)
Less than 1 Mill. CUM +/- 5% and stationary at printing press and medicines at central
Between 1 and 5 Mill. CUM +/- 3% hospital are valued at cost.

More than 5 Mill. CUM +/- 2% However, Stock of stationery (other than lying at printing
press), bricks, sand, medicine (except at Central Hospitals),
However, where the variance is beyond the permissible aircraft spares and scraps are not considered in inventory
limits as above, the measured quantity is considered. considering their value not being significant.
In case of mines with rated capacity of less than one million
2.22 Provisions, Contingent Liabilities & Contingent
tonne, the above policy is not applied and actual cost of
Assets
stripping activity incurred during the year is recognised in
Statement of Profit and Loss. Provisions are recognized when the company has a present
obligation (legal or constructive) as a resultof a past event,
2.21 Inventories and it is probable that an outflow of economic benefits will
be required to settle the obligation and a reliable estimate
2.22.1 Stock of Coal of the amount of the obligation can be made. Where the
Inventories of coal/coke are stated at lower of cost and time value of money is material,provisions are stated at the
net realisable value. Cost of inventories are calculated present value of the expenditure expected to settle the
using the Weighted Average method.Net realisable value obligation.
represents the estimated selling price of inventories less All provisions are reviewed at each balance sheet date and
all estimated costs of completion and costs necessary to adjusted to reflect the current best estimate.
make the sale.
Where it is not probable that an outflow of economic
Book stock of coal is considered in the accounts where the benefits will be required, or the amount cannot be
variance between book stock and measured stock is upto estimated reliably, the obligation is disclosed as a
+/- 5% and in cases where the variance is beyond +/- 5% contingent liability, unless the probability of outflow of
the measured stock is considered. Such stock are valued economic benefits is remote. Possible obligations, whose
at net realisable value or cost whichever is lower. Coke is existence will only be confirmed by the occurrence or

309
non-occurrence of one or more future uncertain events not transaction, other event or condition, managementhas used
wholly within the control of the company, are also disclosed its judgement in developing and applying an accounting
as contingent liabilities unless the probability of outflow of policy that results in information that is:
economic benefits is remote.
a) relevant to the economic decision-making needs of
Contingent Assets are not recognised in the financial users and
statements. However, when the realisation of income is b) reliable in that financial statements:
virtually certain, then the related asset is not a contingent
asset and its recognition is appropriate. (i) represent faithfully the financial position, financial
performance and cash flows of the Company;
2.23 Earnings per share (ii) reflect the economic substance of transactions, other
Basic earnings per share are computed by dividing the net events and conditions, and not merelythe legal form;
profit after tax by the weighted average number of equity (iii) are neutral, i.e. free from bias;
shares outstanding during the period. Diluted earnings per (iv) are prudent; and
shares is computed by dividing the profit after tax by the
weighted average number of equity shares considered for (v) are complete in all material respects on a consistent
deriving basic earnings per shares and also the weighted basis
average number of equity shares that could have been In making the judgment management refers to, and
issued upon conversion of all dilutive potential equity considers the applicability of, the following sources in
shares. descending order:
(a) the requirements in Ind ASs dealing with similar and
2.24 Judgements, Estimates and Assumptions
related issues; and
The preparation of the financial statements in conformity
with Ind AS requires management to make estimates, (b) the definitions, recognition criteria and measurement
judgements and assumptions that affect the application concepts for assets, liabilities, income andexpenses
of accounting policies and the reported amounts of in the Framework.
assets and liabilities, the disclosures of contingent assets In making the judgment, management considers the
and liabilities at the date of financial statements and the most recent pronouncements of International Accounting
amount of revenue and expenses during the reported Standards Board and in absence thereof those of the other
period. Application of accounting policies involving standard-setting bodies that use a similar conceptual
complex and subjective judgements and the use of framework to develop accounting standards, other
assumptions in these financial statements have been accounting literature and accepted industrypractices, to the
disclosed. Accounting estimates could change from period extent that these do not conflict with the sources in above
to period. Actual results could differ fromthose estimates. paragraph.
Estimates and underlying assumptions are reviewed on The Company operates in the mining sector (a sector where
an ongoing basis. Revisions to accounting estimate are the exploration, evaluation, development production
recognised in the period in which the estimates are revised phases are based on the varied topographical and geo-
and, if material, their effects are disclosed in the notes to
mining terrain spread over the lease period running over
the financial statements.
decades and prone to constant changes), the accounting
2.24.1 Judgements policies whereof have evolved based on specific industry
In the process of applying the Company’s accounting practices supported by research committees and approved
policies, management has made the following judgements, by the various regulators owing toits consistent application
which have the most significant effect on the amounts over the last several decades. In the absence of specific
recognised in the financial statements: accounting literature, guidance and standards in certain
specific areas which are in the process of evolution. The
2.24.1.1 Formulation of Accounting Policies Company continues to striveto develop accounting policies
Accounting policies are formulated in a manner that result in line with the development of accounting literature and any
in financial statements containing relevant and reliable development therein shall be accounted for prospectively
information about the transactions, other events and as per the procedure laid down above more particularly in
conditions to which they apply. Those policies need not be Ind AS 8.
applied when the effect of applying them is immaterial.
The financial statements are prepared on going concern
In the absence of an Ind AS that specifically applies to a basis using accrual basis of accounting.

310
2.24.1.2 Materiality a DCF model. The cash flows are derived from the budget
for the next five years and do not include restructuring
IndAS applies to items which are material. Management uses
activities that the Company is not yet committed to or
judgement in deciding whether individual items or groups
significant future investments that will enhance the asset’s
of item are material in the financial statements. Materiality
performance of the CGU being tested. The recoverable
is judged by reference to the nature or magnitude or both
amount is sensitive to the discount rate used for the DCF
of the item. The deciding factor is whether omitting or
model as well as the expected future cash-inflows and
misstating or obscuring an information could individually
the growth rate used for extrapolation purposes. These
or in combination with other information influence
estimates are most relevant to other mining infrastructures.
decisions that primary users make on the basis of the
The key assumptions used to determine the recoverable
financial statements. Management also uses judgement of
amount for the different CGUs, are disclosed and further
materiality for determining the compliance requirement of
explained in respective notes.
the Ind AS. Further the Company may also be required to
present separately immaterial items when required by law. 2.24.2.2 Taxes
W.e.f 02.04.2019 Errors/omissions discovered in the current Deferred tax assets are recognised for unused tax losses
year relating to prior periods are treated as immaterial to the extent that it is probable that taxable profit will
and adjusted during the current year, if all such errors be available against which the losses can be utilised.
and omissions in aggregate does not exceed 1% of total Significant management judgement is required to
revenue from operations (net of statutory levies) as per the determine the amount of deferred tax assets that can be
last audited financial statement of the Company.
recognised, based upon the likely timing and the level of
2.24.2.3 Operating Lease future taxable profits together with future tax planning
Company has entered into lease agreements. The Company strategies.
has determined, based on an evaluation of the terms and 2.24.2.3 Defined benefit plans
conditions of the arrangements, such as the lease term
The cost of the defined benefit plan and other post-
not constituting a major part of the economic life of the
employment medical benefits and the present value of the
commercial property and the fair value of the asset, that
obligations are determined using actuarial valuations. An
it retains all the significant risks and rewards of ownership
actuarial valuation involves making various assumptions
of these properties and accounts for the contracts as
that may differ from actual developments in the future.
operating leases.
These include the determination of the discount rate,
2.24.2 Estimates and Assumptions future salary increases and mortality rates.
The key assumptions concerning the future and other key Due to the complexities involved in the valuation and its
sources of estimation uncertainty at the reporting date, long-term nature, a defined benefit obligation is highly
that have a significant risk of causing a material adjustment sensitive to changes in these assumptions. All assumptions
to the carrying amounts of assets and liabilities within the are reviewed at each reporting date. The parameter most
next financial year, are described below. The Company subject to change is the discount rate. In determining the
based its assumptions and estimates on parameters appropriate discount rate for plans operated in India, the
available when the consolidated financial statements management considers the interest rates of government
were prepared. Existing circumstances and assumptions bonds in currencies consistent with the currencies of the
about future developments, however, may change due to post-employment benefit obligation.
market changes or circumstances arising that are beyond The mortality rate is based on publicly available mortality
the control of the Company. Such changes are reflected in tables of the country. Those mortality tables tend to change
the assumptions when they occur. only at interval in response to demographic changes.
2.24.2.1 Impairment of Non-financial Assets 2.24.2.4 Fair value measurement of financial
There is an indication of impairment if, the carrying value instruments
of an asset or cash generating unit exceeds its recoverable When the fair values of financial assets and financial
amount, which is the higher of its fair value less costs of liabilities recorded in the balance sheet cannot be
disposal and its value in use. Company considers individual measured based on quoted prices in active markets, their
mines as separate cash generating units for the purpose of fair value is measured using generally accepted valuation
test of impairment. The valuein use calculation is based on techniques including the DCF model. The inputs to these

311
models are taken from observable marketswhere possible, 2.24.2.6 Provision for Mine Closure, Site Restoration
but where this is not feasible, a degree of judgement is and Decommissioning Obligation
required in establishing fair values. Judgements include In determining the fair value of the provision for Mine
considerations of inputs such as liquidity risk, credit Closure, Site Restoration and Decommissioning Obligation,
risk, volatility and other relevant input /considerations. assumptions and estimates are made in relation to discount
Changes in assumptions and estimates about these factors rates, the expected cost of site restoration and dismantling
could affect the reported fair valueof financial instruments. and the expected timing of those costs. The Company
estimates provision using the DCF method considering life
2.24.2.5 Intangible asset under development
of the project/mine based on
The Company capitalises intangible asset under l Estimated cost per hectare as specified in guidelines
development for a project in accordance with the issued by Ministry of Coal, Government of India
accounting policy. Initial capitalisation of costs is based
l The discount rate (pre tax rate) that reflect current
on management’s judgement that technological and market assessments of the time value of money and
economic feasibility is confirmed, usually when a project the risks specific to the liability.
report is formulated and approved.

2.25 Abbreviation used:

a. CGU Cash generating unit l. ECL Eastern Coalfields Limited
b. DCF Discounted Cash Flow m. BCCL Bharat Coking Coal Limited
c. FVTOCI Fair value through Other n. CCL Central Coalfields Limited
Comprehensive Income
d. FVTPL Fair value through Profit & Loss o. SECL South Eastern Coalfields Limited

e. GAAP Generally accepted accounting p. MCL Mahanadi Coalfields Limited

principles
f. Ind AS Indian Accounting Standards q. NCL Northern Coalfields Limited

g. OCI Other Comprehensive Income r. WCL Western Coalfields imited

h. P&L Profit and Loss s. CMPDIL Central Mine Planning & Design
Institute Limited
i. PPE Property, Plant and Equipment t. NEC North Eastern Coalfields

j. SPPI Solely Payment of Principal and u. IICM Indian Institute of Coal Management
Interest
k. EIR Effective Interest Rate v. CIL Coal India Limited

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 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS AT 31ST MARCH, 2023
NOTE 3: PROPERTY, PLANT AND EQUIPMENTS
(₹ in Crore)

Land Building Tele- Rail Line/ Furniture Other

Freehold OtherLand Reclamation/ (including water Plant and commu- Railway Rail and Office Mining Surveyed off
Particulars Land Equipments nication Sidings Corridor Fixtures Vehicles Aircraft Assets Total
Site Restoration supply, roads and Equipments Infrastruc-
Costs culverts) tures
Gross Carrying Amount:
As at 1st April, 2021 17.49 1,669.89 472.49 320.17 1,749.00 5.74 487.51 2,572.29 17.75 69.85 16.16 - 359.26 80.58 7,838.18

Additions - 62.57 26.82 233.63 269.41 0.22 156.36 63.69 3.54 10.67 12.68 - 24.48 7.30 871.37

Deletions/Adjustments - - (9.42) (0.05) (93.75) (0.33) (0.29) - 2.10 (5.63) 0.12 - 1.83 (1.29) (106.71)

As at 31st March, 2022 17.49 1,732.46 489.89 553.75 1,924.66 5.63 643.58 2,635.98 23.39 74.89 28.96 - 385.57 86.59 8,602.84

As at 1st April, 2022 17.49 1,732.46 489.89 553.75 1,924.66 5.63 643.58 2,635.98 23.39 74.89 28.96 - 385.57 86.59 8,602.84

Additions - 329.15 72.42 54.42 178.21 1.04 92.88 346.25 6.79 18.00 5.86 - 62.61 11.93 1,179.56

Deletions/Adjustments (0.08) 0.08 (102.31) (5.26) (137.69) 0.10 (63.00) - 0.08 (14.15) (0.01) - - (2.64) (324.88)

As at 31st March, 2023 17.41 2,061.69 460.00 602.91 1,965.18 6.77 673.46 2,982.23 30.26 78.74 34.81 - 448.18 95.88 9,457.52

Accumulated Depreciation and Impairment

As at 1st April, 2021 - 346.36 240.65 70.01 983.32 1.87 96.60 266.41 8.79 40.70 8.10 - 208.35 34.99 2,306.15

Charge for the year - 156.47 31.49 21.91 150.88 0.78 33.16 177.28 2.02 11.21 2.68 - 53.55 - 641.43

Impairment - - - - - - - - - - - - 9.30 (10.53) (1.23)

Deletions/Adjustments - (0.07) (1.23) 0.68 (78.84) 0.07 0.34 - 1.56 (5.50) 0.13 - 2.21 (0.50) (81.15)

As at 31st March, 2022 - 502.76 270.91 92.60 1,055.36 2.72 130.10 443.69 12.37 46.41 10.91 - 273.41 23.96 2,865.20

As at 1st April, 2022 - 502.76 270.91 92.60 1,055.36 2.72 130.10 443.69 12.37 46.41 10.91 - 273.41 23.96 2,865.20

Charge for the year - 132.35 49.97 36.71 158.52 0.75 44.88 188.97 1.88 12.15 3.45 - 44.54 - 674.17

Impairment - - - - - - - - - - - - 3.93 (0.99) 2.94

Deletions/Adjustments - - - (0.80) (114.10) 0.04 (12.58) - (0.46) (6.63) - - 4.10 (0.29) (130.72)

As at 31st March, 2023 - 635.11 320.88 128.51 1,099.78 3.51 162.40 632.66 13.79 51.93 14.36 - 325.98 22.68 3,411.59

Net Carrying Amount

As at 31st March, 2023 17.41 1,426.58 139.12 474.40 865.40 3.26 511.06 2,349.56 16.47 26.81 20.45 - 122.20 73.20 6,045.93

As at 31st March, 2022 17.49 1,229.70 218.98 461.15 869.30 2.91 513.48 2,192.29 11.02 28.48 18.05 - 112.16 62.63 5,737.64
1. Title deeds of Immovable Properties not held in name of the Company

Description Gross Title deeds held in Whether title deed holder is a promoter, director or Property
of item of carrying the name of relative# of promoter*/director or employee of promoter/ held since Reason for not being held in the name of the Company
property value director which date
Land acquired in pursuance to Coal Mines (Nationalisation) Act 1973, does not require

313
— title deeds separately for corresponding land. All other title deeds for land acquired are
Other Land 2,061.69 NA NA
in possession and are mutated in favour of company except in few cases of freehold
lands, where same is under progress pending legal formalities.
 NOTE 3 : PROPERTY, PLANT AND EQUIPMENTS (Contd...)

2. Other Land includes Land acquired under Coal Bearing Areas (Acquisition and Development) Act, 1957, Land
Acquisition Act, 1984 and other Acts.
3. Depreciation is provided based on estimated useful life, reviewed at the end of each year by the empowered
committee as referred in Significant Accounting Policy para no. 2.8. There is no significant component having
different useful life of value, hence component accounting has not been considered.
4. Impairment has been withdrawn in respect of Surveyed off Assets amounting to ₹ 0.99 Cr. (P.Y. ₹10.53 Cr
withdrawn).
5. In terms of lease agreements, the company has granted to its customers, a right to occupy and use of certain
assets of the company having gross value of ₹ 7.90 Cr. and wdv of ₹ NIL.
6. Total Depreciation amounting to ₹ 674.15 Cr. (P.Y. ₹ 641.43 Cr.) includes amortisation of ₹ 44.54 Cr. (P.Y. ₹ 53.55
Cr.) related to other Mining Infrastructures and ₹ 49.97 Cr.(P.Y. ₹ 31.49 Cr.) to Land Reclamation/ Site Restoration
Costs.
7. CIL Board in its 491st Board meeting approved the revised project cost of ₹ 3587.37 Cr. in respect of Tori Shivpur
Rail line project for facilitating evacuation of coal against which ₹ 3384.00 Cr. has been deposited with East
Central Railway. EC Railway has spent ₹ 2982.23 Cr. which has been recognised as Rail Line/ Rail Corridor and the
balance amount of ₹ 401.77 Cr. has been shown as Capital Advance in Note 10 to the Financial Statement. The
Company has received a grant of ₹ 595.82 Cr. till date from CCDAC against the said project.
8. Land Compensation amounting to ₹ 778.62 Cr. has been shown as other Land, which is under reconciliation
(Para 7.9 of Note-38 to the Financial Statement).
9. Depreciation charged during the year includes the depreciation capitalised during the year ₹ 4.07 Crore (Previous
year ₹ NIL) for mines in development phase.

314
 NOTE 4 : CAPITAL WIP
(₹ in Crore)
Building
(Including water Plant and
Particulars RailwaySidings Development Others Total
supply, Equipments
roads and culverts)
Gross Carrying Amount:
As at 1st April, 2021 250.31 48.89 525.17 351.27 — 1,175.64
Additions 44.38 183.39 33.21 12.68 — 273.66
Capitalisation/ Deletions (218.59) (11.32) (19.33) (20.04) — (269.28)
As at 31st March, 2022 76.10 220.96 539.05 343.91 — 1,180.02
As at 1st April, 2022 76.10 220.96 539.05 343.91 — 1,180.02
Additions 121.92 185.34 367.28 88.68 — 763.22
Capitalisation/ Deletions (36.22) (41.24) (72.11) (35.17) — (184.74)
As at 31st March, 2023 161.80 365.06 834.22 397.42 — 1,758.50
Accumulated Impairment
As at 1st April, 2021 0.63 1.46 — 13.45 — 15.54
Charge for the year 0.44 0.03 — 0.44 — 0.91
Impairment — — — 4.15 — 4.15
Deletions/Adjustments 0.23 (0.09) — (2.46) — (2.32)
As at 31st March, 2022 1.30 1.40 — 15.58 — 18.28
As at 1st April, 2022 1.30 1.40 — 15.58 — 18.28
Charge for the year — — — — — —
Impairment 0.19 0.02 — 3.71 — 3.92
Deletions/Adjustments (1.43) (1.36) — (3.96) — (6.75)
As at 31st March, 2023 0.06 0.06 — 15.33 — 15.45
Net Carrying Amount
As at 31st March, 2023 161.74 365.00 834.22 382.09 — 1,743.05
As at 31st March, 2022 74.80 219.56 539.05 328.33 — 1,161.74

315
 NOTE 4 : CAPITAL WIP (Contd.)

1. Capital Work-in-Progress (CWIP)

(a) Ageing schedule for Capital-work-in Progress:
(₹ in Crore)

Amount in CWIP for a period of

Less than More than 3
1-2 years 2-3 years Total
1 year years
Projects in progress:
Building (including water supply, roads and
129.28 27.16 2.58 2.78 161.80
culverts)
Plant and Equipments 186.06 165.05 7.19 6.76 365.06
Railway Sidings 317.34 105.13 87.95 323.80 834.22
Other Mining infrastructure/Development 89.10 279.43 12.20 16.69 397.42
Others — — — — —
Projects temporarily suspended:
Project Name — — — — —
Total 721.78 576.77 109.92 350.03 1,758.50

(b) Overdue capital-work-in progress

To be completed in

Less than 1-2 2-3 More than

1 year years years 3 years
Projects in progress:
Building (including water supply, roads and culverts)
Construction of 04 nos D- type qtrs & 12 Nos c-type qtr at north
3.64 - - -
urimari OC
Cons of 16 no. MQ type qtr. &16 no. B type qtr at birsa 1.24 - - -
Builiding at B&k 0.28
Plant and Equipments
W/B under Construction Machine No 9038 to 9040 0.67 - - -
W/B under Construction –Ashoka Mettalics 1.35
Konar Washery 5.00
Water Sprinkler 0.11
Railway Sidings
Railway Siding – Rites Ltd. 191.31
Other Mining infrastructure/Development
Construction of high-level bridge over konar river in Govindpur 2.34 - -
-
ph-II
Diversion of montico nala at Govindpur OCP - 1.90 - -
Providing Toe Wall and cutcha Drain near BRO Road - 0.13 - -
Details engineering survey/ route alignment survey - 0.10 - -
Total 203.60 4.47 - -

316
 NOTE 4 : CAPITAL WIP (Contd.)
(₹ in Crore)
2. Capital Work-in-Progress (CWIP) for the FY 2021-22
(a) Ageing schedule for Capital-work-in Progress:
Amount in CWIP for a period of
Less than More than 3
1-2 years 2-3 years Total
1 year years
Projects in progress:
Building (including water supply, roads and culverts) 43.42 20.92 6.52 5.24 76.10
Plant and Equipments 184.16 17.04 17.10 2.66 220.96
Railway Sidings 111.36 118.07 97.79 211.83 539.05
Other Mining infrastructure/Development 14.21 282.07 34.11 13.52 343.91
Rail Corridor under Construction
Others — — — — —
Projects temporarily suspended:
Project Name — — — — —
Total 353.15 438.10 155.52 233.25 1180.02

(b) Overdue capital-work-in progress

To be completed in

Less than 1-2 2-3 More than

1 year years years 3 years
Projects in progress:
Building (including water supply, roads and culverts)
Digging pond at Birsa 0.03 - - -
Cons of 16 no. MQ type qtr. &16 no. B type qtr at birsa 1.23 - - -
Construction of 04 nos D- type qtrs & 12 Nos c -type qtr at Birsa Project 3.12 - - -
Const. of primary school building for rehabilitation area 0.07 - - -
Const. of approach road at rehabilitation area 3.15 km 2.01 - - -
Construction of Single Storey D type Quarter at KSP - 0.08 -
CMWO Water Supply Scheme Under Construcction - - 0.01
Building Factory & Mines - - 0.05
Building Factory & Mines - - 0.01
Building Under Construnction - - 0.25
W/S Building 1st Class UC - - 0.01
Payment to MECON for construction of new WTP/STP/PET and - -
0.20
upgradation of the same
Strengthening and widening of Main Road from Kathara More to - - -
0.81
Kathara
Construction of PO Office Amrapali 1.35 - - -
Construction of pre-fab Building 12.01 - - -
Extention of DAV School - - - 0.94
Building (including water supply, roads and culverts) 0.08 - - -

317
 NOTE 4 : CAPITAL WIP (Contd.)
To be completed in

Less than 1-2 2-3 More than

1 year years years 3 years

Plant and Equipments

Planning & design Service rendered by CMPDIL 0.18

NIT Services provided by CMPDIL for NIT of CHP for Konar OCP (8MTY) 0.11

R&D Services provided by CMPDIL NIT of CHP for Konar OCP (8MTY) 0.14

R&D Services provided by CMPDIL for NIT of CHP for Konar OCP (8MTY) 0.12

Preparation of Integrated bid document for setting up of Konar

0.05
Washery

R&D Services provided by CMPDIL 58 Engineering Day for Konar

0.12
Washery

Charges for P&D services rendered by CMPDIL Ranchi for Konar - -

0.24
Washery

W/B under Construction Machine No 9025 to 9044 3.34 - - -

Railway Sidings

Extention of Boundary wall of Kargali Railway Siding - 0.11 -

Railway Sidings - - - 74.44

Other Mining infrastructure/Development

Widening & strenghthening of existing road from sayal more - - -

Bhurkunda to Potanga via saunda sayal urimari, Giddi washery Saunda, 3.85
Saunda D via C/Saunda & K. K. mine to sayal to mine

Approach Road to site office through north Urimari Project 0.18 - - -

Providing of 05 nos deep borewell under AKK OCP - 0.08 - -

Construction of By-pass Road on the re-aligned diversion on MDR-079 - 0.10 - -

Development work in RD - - - 2.71

Construction of high-level bridge over konar river in Govindpur ph-II 2.34 - - -

Diversion of montico nala at Govindpur OCP 1.90 - - -

Construction of Road by Rites Ltd. 31.69 - - -

Construction of Road by NBCC Ltd. 274.40 - - -

Kedla Washery 0.33 - - -

Other Mining infrastructure/Development 2.98 - - -

Total 341.72 0.29 0.08 79.58

318
 NOTE 5 : EXPLORATION AND EVALUATION ASSETS
(₹ in Crore)
Particulars Exploration and Evaluation Costs
Carrying Amount:
As at 1st April, 2021 500.90
Additions 100.90
Deletions/Adjustments (27.65)
As at 31st March, 2022 574.15
As at 1st April, 2022 574.15
Additions 123.19
Deletions/Adjustments (11.38)
As at 31st March, 2023 685.96
Accumulated Provision and Impairment
As at 1st April, 2021 1.11
Charge for the year —
Impairment —
Deletions/Adjustments (0.65)
As at 31st March, 2022 0.46
As at 1st April, 2022 0.46
Charge for the year —
Impairment 1.55
Deletions/Adjustments —
As at 31st March, 2023 2.01
Net Carrying Amount
As at 31st March, 2023 683.95
As at 31st March, 2022 573.69

1. (a) Ageing schedule for exploration and evaluation assets

Amount in Exploration & Evaluation for a period of
Less than 1 More than 3
1-2 years 2-3 years Total
year years
E&E Projects in progress: 214.26 149.01 72.30 248.84 684.41
E&E projects temporarily suspended: - - - - -
Ashok Washery - - 0.76 0.79 1.55
Total 214.26 149.01 73.06 249.63 685.96

(b) Overdue exploration and evaluation assets

To be completed in
Less than 1 year 1-2 years 2-3 years More than 3 years
E&E Projects in progress:
Total - - - -

319
 NOTE 5 : EXPLORATION AND EVALUATION ASSETS (Contd...)

2. (a) Ageing schedule for exploration and evaluation assets

Amount in Exploration & Evaluation for a period of

Less than 1 More than 3

1-2 years 2-3 years Total
year years

E&E Projects in progress: 223.00 39.94 40.25 269.18 572.37

E&E projects temporarily suspended: - - 1.78 - 1.78

Project Name

Total 223.00 39.94 42.03 269.18 574.15

(b) Overdue exploration and evaluation assets

To be completed in

Less than 1 year 1-2 years 2-3 years More than 3 years
E&E Projects in progress:

CMPDIL capital expenditure for Karo Washery - 0.55 - -

CMPDIL capital expenditure for Konar Washery - 0.93 - -

CMPDIL capital expenditure for Konar Sub Station - 0.26 - -

R&D Job done for Project Planning during April, - 0.05 - -

2018 by CMPDIL for new Kargali Washery

Total - 1.78 - -

320
 NOTE 6.1: INTANGIBLE ASSETS
(₹ in Crore)

Coal Blocks meant

Particulars Computer Software Others Total
for Sale

Carrying Amount:

As at 1st April, 2021 12.30 7.28 — 19.58

Additions 0.02 — — 0.02

Deletions/Adjustments — — — —

As at 31st March, 2022 12.32 7.28 — 19.60

As at 1st April, 2022 12.32 7.28 — 19.60

Additions 22.62 — — 22.62

Deletions/Adjustments — — — —

As at 31st March, 2023 34.94 7.28 — 42.22

Accumulated Provision and Impairment

As at 1st April, 2021 8.65 — — 8.65

Charge for the year 2.29 — — 2.29

Impairment — — — —

Deletions/Adjustments — — — —

As at 31st March, 2022 10.94 — — 10.94

As at 1st April, 2022 10.94 — — 10.94

Charge for the year 4.47 — — 4.47

Impairment — — — —

Deletions/Adjustments — — — —

As at 31st March, 2023 15.41 — — 15.41

Net Carrying Amount

As at 31st March, 2023 19.53 7.28 — 26.81

As at 31st March, 2022 1.38 7.28 — 8.66

1. Coal blocks meant for sale represents expenses incurred towards initial development on mines to be recovered on disposal of such blocks by
the authority.

321
 NOTE 6.2: INTANGIBLE ASSETS UNDER DEVELOPMENT
(₹ in Crore)

Computer
Particulars Total
Software
Carrying Amount:
As at 1st April, 2021 — —
Additions 11.27 11.27
Deletions/Adjustments — —
As at 31st March, 2022 11.27 11.27
As at 1st April, 2022 11.27 11.27
Additions — —
Deletions/Adjustments (11.27) (11.27)
As at 31st March, 2023 — —
Accumulated Provision and Impairment
As at 1st April, 2021 — —
Charge for the year — —
Impairment — —
Deletions/Adjustments — —
As at 31st March, 2022 — —
As at 1st April, 2022 — —
Charge for the year — —
Impairment — —
Deletions/Adjustments — —
As at 31st March, 2023 — —
Net Carrying Amount
As at 31st March, 2023 — —
As at 31st March, 2022 11.27 11.27

1. Ageing schedule for Intangible Assets under Development.

Amount in Intangible Assets under Development for a period of
Less than 1 More than 3
1-2 years 2-3 years Total
year years
Projects in progress: — — — — —
Projects temporarily suspended: — — — — —
Project Name
Total — — — — —

322
 NOTE 7: INVESTMENTS
(₹ in Crore)

No. of Shares As at As at
Particulars
Held 31.03.2023 31.03.2022
Non Current
Investment in Co- operative Shares (Unquoted) — —
Investment in secured Bonds (Quoted) — —
Investment in Shares
— —
Equity Shares in Subsidiary Company

Other Investments
Share Application Money — —

Interest Free Loan — —

Total — —

Aggregate amount of quoted investments: — —

Market value of quoted investments — —

Aggregate amount of unquoted investments: — —

Aggregate amount of impairment in value of investments: — —

323
 NOTE 7: INVESTMENTS (Contd…)
(₹ in Crore)
NAV/ Face Value per Unit (In ₹) As at As at
Particulars
31.03.2023 31.03.2022 31.03.2023 31.03.2022
Current
Mutual Fund Investment
UTI Liquid Cash Plan — — — —
SBI Ultra Short Term Fund 5,158.4197 4,897.0747 647.83 64.66
SBI Mutual Fund- Liquid 3,523.3030 3,333.0896 4.47 0.02
Canara Robeco Mutual Fund- Liquid 2,696.7127 2,549.7953 17.68 0.01
Union Mutual Fund- Liquid 2,169.4479 2,050.9509 10.12 0.01
BNP Paribas Liquid Fund 2,595.4687 2,452.9344 38.49 0.02
Other Investments
8.5% Tax Free Special Bonds (Fully Paid Up)
— —
(On Securitisation of Trade Receivables)
Total 718.59 64.72
Aggregate of quoted investment: 718.59 64.72
Market value of quoted investment — —
Aggregate of unquoted investments: 718.59 64.72
Aggregate amount of impairment in
— —
value of investments:

Details of Mutual Fund purchased and redeemed during the year:

(₹ in Crore)
Opening Balance Total Purchased During Redemption During the Closing Balance
Particulars the period period
No. of Units Amount No. of Units Amount No. of Units Amount No. of Units Amount
SBI Ultra Short Term
1,32,036.45 64.66 38,09,330.08 1,900.00 26,85,496.34 1,335.37 12,55,870.19 647.83
Fund
SBI Mutual Fund -
47.70 0.02 21,56,277.21 741.47 21,43,634.41 745.53 12,690.50 4.47
Liquid
Canara Robeco
41.29 0.01 99,779.58 26.33 34,247.27 8.94 65,573.60 17.68
Mutual Fund -Liquid
Union Mutual Fund
66.11 0.01 67,617.92 14.40 21,061.56 4.44 46,622.47 10.12
- Liquid
BNP Paribas Liquid
72.58 0.02 2,67,590.14 67.80 1,19,384.11 30.16 1,48,278.61 38.49
Fund
Total 1,32,264.13 64.72 64,00,594.93 2,750.00 50,03,823.69 2,124.44 15,29,035.37 718.59

The company invests in liquid scheme (Growth option) & Ultra Short-Term Fund (Growth Option).

324
 NOTE 8 : LOANS
(₹ in Crore)

As at As at
31.03.2023 31.03.2022
Non-Current
Loans to Related Parties
— Secured, considered good — —
— Unsecured, considered good — —
— Doubtful — —
Less: Allowance for doubtful loans — —
— —
Loans to other than Related Parties
Loans to body corporate and employees
— Secured, considered good 5.10 2.06
— Unsecured, Considered good — —
— Have significant increase in Credit risk — —
— Credit impaired — —
5.10 2.06
Less: Allowance for doubtful loans — —
5.10 2.06

Details of non current loans to related parties As at 31.03.2023 As at 31.03.2022

Type of borrower Gross % to the Gross % to the
Amount total gross Amount total gross
Outstanding loans Outstanding loans
Directors — — — —

KMPs — — — —

Related Parties — — — —

Total — — — —

325
 NOTE 8 : LOANS (Contd…)
(₹ in Crore)
As at As at
31.03.2023 31.03.2022
Current
Loans to Related Parties
— Secured, considered good — —
— Unsecured, Considered good — —
— Have significant increase in Credit risk — —
— Credit impaired — —
— —
Less: Allowance for doubtful loans — —
— —
Loans to other than Related Parties
Loans to body corporate and employees
— Secured, considered good 0.71 —
— Unsecured, Considered good — —
— Credit impaired — —
0.71 —
Less: Allowance for doubtful loans — —
0.71 —

Details of non current loans to related parties As at 31.03.2023 As at 31.03.2022

Type of borrower Gross Amount % to the total Gross Amount % to the total
Outstanding gross loans Outstanding gross loans

Directors — — — —

KMPs — — — —

Related Parties — — — —

Total — — — —

1. For dues from directors - Refer Note 38(6)(d)

2. Loans to Employees are secured against trems of Service.

326
 NOTE 9 : OTHER FINANCIAL ASSETS
(₹ in Crore)

As at As at
31.03.2023 31.03.2022
Non-Current
Bank Deposits with more than 12 months maturity 54.00 —
Deposits with bank under Shifting & Rehabilitation Fund scheme — —
Deposits with bank under Mine Closure Plan1 1,526.83 1,365.00
Security Deposit 116.24 6.59
Less : Allowance for doubtful deposits 0.08 116.16 0.08 6.51
Other Deposit and Receivables — —
Less : Allowance for doubtful deposits & receivables — — — —
TOTAL 1,696.99 1,371.51
Current
Current Account with Holding Company (including RSO) — —
Interest accrued 31.38 30.01
Claims & other receivables 2
144.55 83.53
Less : Allowance for doubtful claims 14.29 130.26 14.29 69.24
TOTAL 161.64 99.25

1. Deposits with bank under Mine Closure Plan

Balance in Escrow Account (Current/ Non Current) on opening date 1,365.00 1,250.53

Add: Amount Deposited during the Year 105.06 106.52

Add: Interest Credited during the year 62.27 43.25

Less: Amount Withdrawn during the Year 5.50 35.30

Balance in Escrow Account (Current/ Non Current) on Closing date 1,526.83 1,365.00

2. Since coal became excisable w.e.f. 01.03.2011, Royalty and SED were considered as “Other Taxes” and excluded from the
Transaction Value. Consequent upon the summon issued by the Directorate General of Central Excise Intelligence (DGCEI), New
Delhi and discussion held thereon, CIL, Holding Company, who represented the issue, has advised to include Royalty and SED
in the Transaction Value and pay Central Excise Duty under protest till the case pending in the Nine Member Bench of Hon’ble
Supreme Court is disposed off. Accordingly, ₹ 85.14 Cr. has been paid under protest against coal dispatched and on consumption
of raw coal in washeries during the period from March’2011 to February’2013 and consequently supplementary bills have been
raised for the said period to the tune of ₹ 79.95 Cr. Out of ₹ 79.95 Cr., balance realizable amount of ₹3.96 Cr. from cash sales
customers has been shown under the head “Other Receivable “. Out of ₹ 3.96 Cr., customers have obtained stay order for ₹ 2.56 Cr.
from Hon’ble High Courts of Kolkata and Jharkhand and against balance of ₹ 1.40 Cr., provision of ₹ 1.38 Cr. has been made.
3. For dues from directors – Refer Note 38(6)(d)

327
 NOTE 10: OTHER NON-CURRENT ASSETS
(₹ in Crore)

As at As at
31.03.2023 31.03.2022
(i) Capital Advances1 2,093.58 1,542.97
Less : Allowance for doubtful advances — 2,093.58 0.08 1,542.89
(ii) Advances other than Capital Advances
(a) Other Deposits and advances 0.02 0.02 —
Less : Allowance for doubtful advances — 0.02 — 0.02
(b) Progressive Mine Closure Expense incurred 991.15 750.40
(c) Advances to related parties — —
TOTAL 3,084.75 2,293.31

Closing Balance Maximum Amount Due

as at 31.03.2023 at Any Time During
Particulars Current Year Previous Year
Current Year Previous Year

( ₹ in crores) (₹ in crores) (₹ in crores) (₹ in crores)

Due by the Companies in which Directors of the Company is

also a Director/ Member NIL NIL NIL NIL

Due by the parties in which the Director(s) of Company is /are

interested NIL NIL NIL NIL

1. Capital Advance mainly includes ₹ 401.77 Cr. (P.Y. ₹ 348.02 Cr.) given to EC Railway for construction of
Tori-Shivpur Rail Line & ₹ 1212.15 Cr. Given to state Government against GMJJ Land.

328
 NOTE 11: OTHER CURRENT ASSETS
(₹ in Crore)
As at As at
31.03.2023 31.03.2022
(a) Advance payment of statutory dues 540.65 270.94
Less: Allowance for doubtful statutory dues - 540.65 0.89 270.05
(b) Other Advances and Deposits 1,344.75 1,604.77
Less: Allowance for doubtful other deposits & advances 19.45 1,325.30 21.24 1,583.53
(c) Progressive Mine Closure Expense incurred 87.05 95.77
(d) Input Tax Credit Receivable 1,481.70 1,268.92
TOTAL 3,434.70 3,218.27

Closing Balance Maximum Amount Due

Particulars as at 31.03.2023 at Any Time During
Previous Year Current Year Previous Year Current Year
(₹in crores) (₹ in crores) (₹ in crores) (₹ in crores)
Due by the Companies in which Directors of the Company
NIL NIL NIL NIL
is also a Director/ Member
Due by the parties in which the Director(s) of Company is/
NIL NIL NIL NIL
are interested
1. For dues from Director - Refer Note 38(6)(d)

NOTE 12 : INVENTORIES
(₹ in Crore)
As at As at
31.03.2023 31.03.2022

(a) Stock of Coal 965.24 881.21

Coal under Development — —
965.24 881.21
(b) Stock of Stores & Spares (net) 174.70 144.46
Add: Stores-in-transit — —
174.70 144.46
(c) Stock of Medicine at Central Hospital 1.66 0.75

(d) Workshop Jobs and Press jobs & others 2.70 4.92

Total 1,144.30 1,031.34

329
 ANNEXURE TO NOTE – 12
Table – A
Reconciliation of Closing Stock of Raw Coal
Adopted in the Financial Statements with Book Stock as at the end of the period

(Qty in Lakh tonnes) (Value in ₹ Crore)

NON—VENDABLE
OVERALL STOCK STOCK/ VENDABLE STOCK
Particulars MIXED STOCK
Qty. Value Qty. Value Qty. Value

1. (A) Opening Stock as on 01.04.2022 76.43 589.11 1.21 — 75.22 589.11

(B) Adjustment in Opening Stock — —

2.
Production for the period 760.87 — — — 760.87 —

3.
Sub—Total ( 1+2) 837.30 589.11 1.21 — 836.09 589.11

4.
Off— Take for the period

(A) Outside Dispatch 696.69 19,305.72 — — 696.64 19,305.72

(B) Coal feed to Washeries 53.55 573.40 — — 53.60 573.40

(C) Own Consumption — — — — — —

TOTAL (A) 750.24 19,879.12 — — 750.24 19,879.12

5. Derived Stock 87.06 758.80 1.21 — 85.85 758.80

6. Measured Stock 86.22 751.75 1.18 — 85.04 751.75

7. Difference (5—6) 0.84 7.05 0.03 — 0.81 7.05

8. Break—up of Difference:

(A) Excess within 5% 0.21 1.80 — — 0.21 1.80

(B) Shortage within 5% 1.05 8.85 0.03 — 1.02 8.85

(C) Excess beyond 5% — — — — — —

(D) Shortage beyond 5% — — — — — —

9. Closing stock adopted in A/c.(6—8A+8B) 87.06 758.80 1.21 — 85.85 758.80

330
 ANNEXURE TO NOTE – 12 (Contd...)
Table – B
Summary of Closing Stock of Coal/Coke etc.
(Qty in Lakh tonnes) (Value in ₹ Crore)
Washed/Deshaled Coal
Raw Coal Other Products Total
Particulars Coking Non-Coking

Qty Value Qty Value Qty Value Qty Value Qty Value
Opening Stock (Audited) 76.43 589.11 0.18 8.86 0.55 5.81 15.53 277.43 92.69 881.21

Less: Non—vendable — — — — — — — 1.21 —

1.21
Coal/Mixed Stock
Adjusted Opening 75.22 589.11 0.18 8.86 0.55 5.81 15.53 277.43 91.48 881.21
Stock
(Vendable)
Production 760.87 — 7.21 — 36.65 — 8.23 — 812.96 —

Offtake

(A) Outside Despatch 696.64 19,305.72 7.09 610.13 36.91 1,618.97 12.29 830.90 752.93 22,365.72

(B) Coal feed to 53.60 573.40 — — — — — — 53.60 573.40

Washeries
(C) Own Consumption — — — — — — — — — —

Closing Stock 85.85 758.80 0.30 7.30 0.29 2.81 11.47 196.33 97.91 965.24

Less: Shortage — — — — — — — — — —

Closing Stock (Adopted) 85.85 758.80 0.30 7.30 0.29 2.81 11.47 196.33 97.91 965.24

1. Value of Despatch of Other Products includes value of Non Coking Slurry and Rejects, but quantity of Despatch does not include
despatch of Non Coking Slurry 36271 MT (P.Y. 12047 MT) and Rejects (Both Coking & Non Coking) 145127 MT (P.Y. 102739 MT).
2. Closing Stock of Non-Coking Slurry and Coking and Non-Coking Rejects as on 31.03.2023 is 195868 MT (P.Y. 231247
MT) and 6541688 MT (PY 6511890 MT) respectively, valued at NIL in absence of availability of ready market. Sales are
recognised on realisable basis.
3. Closing stock of coal is measured volumetrically and converted to weight (tonne) by applying the identified conversion factor.
To take care of the inherent approximation error of volumetric measurement and subsequent conversion thereof to weight
by applying a mathematically determined conversion factor, the variance of (+/-)5% between book stock and physical stock is
ignored as per Accounting Policy of the Company being followed consistently over the years and the net shortage of Book Stock
(Vendable) of 0.81 Lakh tonne valuing ₹ 7.05 Cr. remains unadjusted in the Books of Account.
4. Stock of Row coal includes 21014 Te amounting to ₹ 4.32 Cr. Lying at Urimari OCP since 2010, is sub-judice and
valued at old CPT.

331
 NOTE .13: TRADE RECEIVABLES
(₹ in Crore)

As at As at
31.03.2023 31.03.2022
Secured considered good — —
Unsecured considered good 3,001.17 2,149.65
Credit impaired 380.39 288.26
3,381.56 2,437.91
Less : Allowance for bad & doubtful debts 380.39 3,001.17 288.26 2,149.65

Total 3,001.17 2,149.65

1. Trade Receivables ageing as at 31.03.2023

Outstanding for following periods from transaction date
Particulars Less than 6 months More than Total
1-2 years 2-3 years
6 months 1 year 3 years
(i) Undisputed Trade receivables – considered good 1,844.84 236.64 832.95 3.27 83.47 3,001.17
(ii) Undisputed Trade Receivables – credit impaired — — — — — —
(iii) Disputed Trade Receivables– considered good — — — — — —
(iv) Disputed Trade Receivables – credit impaired — — — — 380.39 380.39
Total 1,844.84 236.64 832.95 3.27 463.86 3,381.56
Unbilled dues — — — — — —
Allowance for bad & doubtful debts — — — — 380.39 380.39
Expected credit losses (Loss allowance
— — — — 82.01% 11.25%
provision) - %

Trade Receivables ageing as at 31.03.2022

Outstanding for following periods from transaction date

Particulars Less than 6 months More than Total
1-2 years 2-3 years
6 months 1 year 3 years
(i) Undisputed Trade receivables – considered good 892.16 351.17 793.56 214.78 (102.02) 2,149.65

(ii) Undisputed Trade Receivables – credit impaired — — — — — —

(iii) Disputed Trade Receivables– considered good — — — — — —
(iv) Disputed Trade Receivables – credit impaired — — — — 288.26 288.26

Total 892.16 351.17 793.56 214.78 186.24 2,437.91

Unbilled dues — — — — — —
Allowance for bad & doubtful debts — — — — 288.26 288.26

Expected credit losses (Loss allowance provision) - % — — — — 154.78% 11.82%

332
 NOTE .13: TRADE RECEIVABLES (Contd...)
2. Movement of Provision against Trade Receivables
(₹ in ₹ Crore)
AMOUNT
PARTICULARS Bad & Doubtful Coal
Debts Quality Variance
Opening Balance as on 01.04.2022 288.26 531.99
Add : Provision made during the year 92.13 125.87
Balance Provision 380.39 657.86
Less : Provision Withdrawn — 480.34
Balance provision against Trade Receivables as on 31.03.2023 380.39 177.52

3. Trade receivables above is net of provision of Coal quality variance & moisture of ₹ 177.52 Crore (₹ 531.99 Crore)
4. For dues from Directors-refer note 38(6)(d)

333
 NOTE 14: CASH AND CASH EQUIVALENTS
(₹ in Crore)
As at As at
31.03.2023 31.03.2022
(a) Balances with Banks
in Deposit Accounts 12.31 0.39
in Current Accounts
— Interest Bearing (CLTD) 645.08 149.61
— Non-interest Bearing 222.87 597.30
in Cash Credit Accounts — —
(b) Bank Balances outside India — —
(c) ICDs with primary dealers 100.00 —
(d) Cheques, Drafts and Stamps in hand 0.01 0.01
(e) Cash on hand — —
(f ) Cash on hand outside India — —
(g) Others (e-procurement account / GeM account / imprest 0.17 0.01
balances)
Sub-total Cash and Cash Equivalents 980.44 747.32
(h) Bank Overdraft — —
Total Cash and Cash Equivalents (net of Bank Overdraft) 980.44 747.32

Note:
1 Cash and cash equivalents comprise of cash on hand and at bank, sweep accounts and term deposits held with banks with
original maturities of three months or less.
2 Balances with banks to the extent held as margin money or security against the borrowings, guarantees, other commitments
is ₹ NIL.
3 Balance of Cash on Hand is as per Cash Verification Report certified by the management.
4 The bank guarantees issued by CCL on account of court case in M/s Nav Shakti Fuels Vs CCL & Others in FA No.101/2007 against
lien secured by Deposits in Account no. 0404002100045433 for an amount of ₹ 0.39 Cr.
5 Cash & cash equivalents includes ₹ 441.45 Crore collected from customers as Composit user fees.
6 ICDs with primary dealer are inter-corporate Deposits accepted by the primary dealers with an original maturity between 7 to
15 days. Detail is as under –

(₹ in Crore)
Primary Dealers
ICICI Securities  100.00 —
Total  100.00 —

7 Deposit account includes ₹ 11.92 Cr. deposited under CSR Unspent account as per CSR Policy under Companies Amendment
Act, 2017.

334
 NOTE 15 : OTHER BANK BALANCES
(₹ in Crore)

As at As at
31.03.2023 31.03.2022

Balances with Banks

Deposit Accounts 2,493.81 1,474.33
Deposit Accounts (for specific purposes)* 40.06 38.71
Mine Closure Plan — —
Shifting and Rehabilitation Fund scheme — —
Escrow Account for Buyback of Shares — —
Unpaid Dividend Accounts — —
Dividend Accounts — —
Total 2,533.87 1,513.04

Other Bank Balances comprise Deposits - for specific purposes and bank deposits which are expected to realise in cash within 12
months after the reporting date.

*Deposits for specific purposes are bank deposite held under lien/ earmarked as per courts order and for other specific
purposes.” which includes —

i) ₹ 7.41 Cr. deposited against the order of the Hon’ble High Court, Kolkata against a claim from customer which includes interest of
₹ 2.99 Cr. with corresponding liability in Other Financial Liability (Note-20).
ii) ₹ 32.65 Cr. deposited as per order of Hon’ble High Court, Kolkata against 20% extra price charged form parties during the period
Nov. 2006 to April 2008.

335
 NOTE 16: EQUITY SHARE CAPITAL
(₹ in Crore)

As at As at
31.03.2023 31.03.2022

AUTHORISED
1,10,00,000 Equity Shares of ₹ 1000/- each 1,100.00 1,100.00
(1,10,00,000 Equity Shares of ₹ 1000/- each)
ISSUED, SUBSCRIBED AND PAID UP
94,00,000 Equity Shares of ₹ 1000/- each 940.00 940.00
(94,00,000 Equity Shares of ₹ 1000/- each)
940.00 940.00

1. Out of the above 9399997 Shares are held by the holding company, Coal India Limited (CIL) and balance 3 shares are held by its
nominees.
2. Shares in the company held by each shareholder holding more than 5% Shares

No. of Shares Held (Face % Change during

Name of Shareholder % of TotalShares
value of ₹ 1000 each) the period

Coal India Limited 9399997 100 —

(9399997) (100)
3. Reconciliation of equity shares outstanding at the beginning and at the end of reporting period:
Particular Number of Share Amount
Balance as on 01.04.2021 94,00,000 940.00
Change during FY 2021-22 — —
Balance as on 31.03.2022 94,00,000 940.00
Change during FY 2022-23 — —
Balance as on 31.03.2023 94,00,000 940.00
4. The Company has only one class of equity shares having a face value ₹ 1000/- per share. The holders of the equity shares are
entitled to receive dividends as declared from time to time and are entitled to voting rights proportionate to their share holding
at the meeting of shareholders.

336
 NOTE 17: OTHER EQUITY
(₹ in Crore)
Particulars General Retained OCI Total
Reserve Earnings
Balance as at 01.04.2021 2,307.15 4,477.77 (174.08) 6,610.84
Changes in Accounting Policy and Prior Period — — — —
Errors (Net of Tax)
Balance as at 01.04.2021 2,307.15 4,477.77 (174.08) 6,610.84
Additions during the year — — — —
Adjustments during the year — — — —
Profit for the Year — 1,698.41 — 1,698.41
Remeasurement of Defined Benefits Plans (net of — — (51.39) (51.39)
Tax)
Appropriations
Transfer to / from General reserve 84.85 (84.85) — —
Interim Dividend — (404.20) — (404.20)
Final Dividend — (377.88) — (377.88)
Corporate Dividend tax — — — —
Balance as at 31.03.2022 2,392.00 5,309.25 (225.47) 7,475.78
Balance as at 01.04.2022 2,392.00 5,309.25 (225.47) 7,475.78
Additions during the year — — — —
Adjustments during the year — (0.70) — (0.70)
Changes in accounting policy or prior period — — — —
errors
Profit for the year — 2,755.14 2,755.14
Reimbursement of Defined Benefit Plan (Net of — — 177.59 177.59
Tax)
Appropriations :
Transfer to / from General reserve 137.58 (137.58) — —
Interim Dividend — (600.66) — (600.66)
Final Dividend — (423.00) — (423.00)
Corporate Dividend tax — — — —
Buyback of Equity Shares — — — —
Tax on Buyback — — — —
Balance as at 31.03.2023 2529.58 6902.45 (47.88) 9,384.15

Only Retained Earning & General Reserve are available for distribution as Dividend.

337
 NOTE 18: BORROWINGS
(₹ in Crore)

As at As at
31.03.2023 31.03.2022
Non-Current
Term Loans 125.12 —
Other Loans — —
Total 125.12 —
CLASSIFICATION
Secured 125.12 —
Unsecured — —
Current
Loans repayable on demand
From Banks
— Bank Overdrafts — —
— Other Loans from Bank — —
From Other Parties — —
Curent maturities of long-term borrowings 0.03 —
Total 0.03 —
CLASSIFICATION
Secured 0.03 —
Unsecured — —

Loan Guaranteed by Directors & Others

Particulars of Loan Amount in ₹ crores Nature of Guarantee

N.A. NIL NA

338
 NOTE 19 : TRADE PAYABLES
(₹ in Crore)
As at As at
31.03.2023 31.03.2022
Current
Micro, Small and Medium Enterprises 9.88 6.98
Other than Micro, Small and Medium Enterprises 1,305.24 1,556.66
Total 1,315.12 1,563.64
CLASSIFICATION
Secured — —
Unsecured 1,315.12 1,563.64
Trade Payables for Micro, Small and Medium Enterprises
Principal & Interest amount remaining unpaid but not due as at year end NIL NIL
Interest paid by the company in terms of Section 16 of Micro, Small & Medium Enterprises NIL NIL
Development Act, 2006 along with the amount of the payment made to the supplier
beyond the appointed date during the year
Interest Due and payable for the year of delay in making payment (which has been paid NIL NIL
but beyond the appointed day during the year) but without adding the interest specified
under Micro, Small & Medium Enterprises Development Act, 2006
Interest accrued but remain unpaid as at year end NIL NIL
Further Interest remain due and payable even in the succeeding years, until such date NIL NIL
when interest dues as above are actually paid to the small enterprises
Trade payables aging schedule as at 31.03.2023
Outstanding for following periods from transaction date
Particulars Less than 1 More than 3
1-2 years 2-3 years Total
year years
(i) MSME 9.88 — — — 9.88
(ii) Others 1,043.69 103.98 32.06 49.80 1,229.53
(iii) Disputed dues - MSME — — — — —
(iv) Disputed dues - Others — — — 75.71 75.71
(v) Unbilled Dues — — — — —
Total 1,053.57 103.98 32.06 125.51 1,315.12
Trade payables aging schedule as at 31.03.2022

Outstanding for following periods from transaction date

Particulars Less than 1 More than 3
1-2 years 2-3 years Total
year years
(i) MSME 6.98 — — — 6.98
(ii) Others 1,342.25 21.70 57.46 53.59 1,475.00
(iii) Disputed dues - MSME — — — — —
(iv) Disputed dues - Others — — — 81.66 81.66
(v) Unbilled Dues — — — — —
Total 1,349.23 21.70 57.46 135.25 1,563.64

339
 NOTE 20: OTHER FINANCIAL LIABILITIES
(₹ in Crore)

As at As at
31.03.2023 31.03.2022

Non-Current
Security Deposits 232.21 124.13
Others — —
Total 232.21 124.13
Current
Current Account with Holding Company — —
Holding Company 12.47 57.66
IICM 0.21 0.21
Unpaid dividends — —
Security Deposits 147.91 231.59
Earnest Money 266.37 56.84
Payable for Capital Expenditure 197.30 177.69
Liability for Employee Benefits 500.59 473.80
Others 90.16 50.59
Total 1,215.01 1,048.38

1. Others above includes unspent CSR expenses (Refer Annexure to Note – 29 CSR Expenses)
2. No amount is due for payment to Investor Education & Protection Fund.
Refer note 38 (2) for classification

340
 NOTE 21: PROVISIONS
(₹ in Crore)
As at As at
31.03.2023 31.03.2022
Non-Current
Employee Benefits
Gratuity 64.80 610.99
Leave Encashment 467.86 283.02
Post Retirement Medical Benefits 193.89 214.36
Other Employee Benefits 40.69 40.79
766.24 1,149.16
Other Provisions
Site Restoration/Mine Closure 929.15 982.09
Stripping Activity Adjustment 3,639.59 2,987.40
Others — —
Total 5,334.98 5,118.65
Current
Employee Benefits
Gratuity 207.82 197.13
Leave Encashment 49.77 29.56
Post Retirement Medical Benefits 28.27 25.09
Ex- Gratia 258.44 250.70
Performance Related Pay 268.29 178.07
Other Employee Benefits 1,361.87 153.20
2,174.46 833.75
Other Provisions
Others — —
Total 2,174.46 833.75
1. Reconciliation of Reclamation of Land/ Site restoration /Mine Closure :
Gross value of site restoration Asset as on 01.04.2022/01.04.2021 489.89 472.49
Add: Unwinding of Provision charged (incl. Capitalised) Upto 01.04.2021/01.04.2020 492.20 451.68
Add: Unwinding of Provision charged (incl. Capitalised) during the Year 75.44 81.77
Less: Mine Closure Provision withdrawn during the Year 128.38 23.85
Mine Closure Provision as on 31.03.2023/31.03.2022 929.15 982.09
2. Provision for Ex-Gratia for Non-Executive has been made based on amount approved for the payment for FY 2021-22 i.e. ₹ 76,500/- Per
employee.
3. Pursuant to the guidelines received from Ministry of Coal, Government of India, in connection to Mine Closure Plan, provision for Mine
Closure Expenses is made in the accounts based on the technical assessment of CMPDIL, a subsidiary of Coal India Limited. The liability
for such expenses as estimated by CMPDIL of each mine has been discounted @ 8% (i.e. G-Sec rate) and the same is capitalised to arrive
at the Mine Closure Liability as on first year of making such provision. Thereafter, the provision is re-estimated in subsequent years by
unwinding the discount to arrive at the provision as on 31.03.2023. Deposit in Escrow A/c is ₹1526.83 Cr. (P.Y. ₹ 1,365.00 Cr.) including
interest of ₹ 471.05 Cr. (P.Y. ₹ 408.78 Cr.) against the Mine Closure Provision of ₹ 929.15 Cr. (P.Y. ₹ 982.09 Cr.).
4. Pending Finalisation of the National Coal Wastage Agreement (NCWA-XI) for Non-Executives, considering the total impact of the increase in
all elements of salary & wages, an estimated provision of ₹ 1344.58 Crores @ ₹ 19,100/- per employee (Non-Executive) per month has been
recognized for the period from 01.07.2021 to 31.03.2023.
5. In Actuary valuation, salary inflation of 6.25% in the case of non-executives has been considered which is a long-term assumption considering
factors such as annual increment, inflations, promotions, NCWA agreements, and other relevant factors as required in Ind AS 19, Employee
benefits.

341
 NOTE 22 : OTHER NON- C U R R E N T LIABILITIES
(₹ in Crore)
As at As at
31.03.2023 31.03.2022
Shifting & Rehabilitation Fund — —
Deferred Income1 452.59 496.58
Others 0.39 0.55
Total 452.98 497.13
1. Deferred Income includes the unabsorbed government grants such as (a) original amount of ₹ 595.82 crore related to
construction of Rail Line/Rail Corridor (b) original amount of ₹ 4.29 crore related to widening & strengthening of Road at NK
Area and (c) original amount of ₹ 9.23 crore related to widening & strengthening of Road at Charhi Area.
Deferred income is recognised in the Statement of Profit & Loss on systematic basis over the useful life of asset. The useful life of
rail corridor is 15 years and in case of Road is of 10 year. Considering the useful life of the assets an amount of ₹ 43.99 Crore has
been recognised as income in the Statement of Profit and Loss during the year.

NOTE 23: OTHER CURRENT LIABILITIES

(₹ in Crore)

As at As at
31.03.2023 31.03.2022

Statutory Dues 1,404.04 1,044.75

Advance from customers / others 3,063.62 2,071.44
Other Liabilities - -
Total 4,467.66 3,116.19

NOTE 24: REVENUE FROM OPERATIONS

(₹ in Crore)
For the Year ended For the Year ended
31.03.2023 31.03.2022
A. Sales 22,720.19 18,585.25
Less : Statutory Levies 7,493.98 6,233.12
Sales (Net) (A) 15,226.21 12,352.13
B. Other Operating Revenue
Loading and transportation charges 735.04 761.90
Less : Statutory Levies 35.00 700.04 36.28 725.62
Evacuation facility Charges 475.60 429.10
Less : Statutory Levies 22.65 452.95 20.43 408.67
Other Operating Revenue (Net) (B) 1,152.99 1,134.29
Revenue from Operations (A+B) 16,379.20 13,486.42

1. Refer point no 6 (o) of Note 38 for Disaggregated Revenue Information.

2. Sale has been increased by estimated Provision withdrawn for Coal Quality Variance & Moisture (net of reversal) for results
awaited from refree/third party sampler amounting to ₹ 354.47 Cr. (P.Y. Provided for ₹ 9.17 Cr.)

342
 NOTE 25: OTHER INCOME
(₹ in Crore)

For the Year ended For the Year ended

31.03.2023 31.03.2022
Interest Income 234.85 97.13
Dividend Income — —

Other Non-Operating Income

Profit on Sale of Assets 0.02 0.15
Gain on Foreign exchange Transactions — —
Gain on Sale of Mutual Fund 19.90 8.85
Lease Rent 0.35 0.19
Liability / Provision Write Backs 352.32 125.02
Fair Value Changes (Net) 8.41 0.11
Miscellaneous Income 310.61 105.35
Total 926.46 336.80
1. Interest includes interest on income tax refund ₹ NIL (PY ₹ NIL)
2. Liability Written Back includes excess liability written back for-

Performance Related Pay 5.80 42.93

Mine Closure Provision 90.57 7.19
Salary & Wages 3.48 28.89
Contractual & Stores liability 208.44 37.02
Others including Statutory Levies 44.03 8.99
TOTAL 352.32 125.02
3. Miscellaneous income includes-

Inflated Mileage from Tori-Shivpur Rail Corridor 70.20 -

Siding User Charges 26.57 11.97
Bank Guarantee Encashed 34.46 3.76
Forfeiture of SD/EMD 62.21 4.42
Scrap Sale 16.50 2.34
Penalty/LD recovered from Suppliers 14.02 26.12
Deferred Revenu Income 43.99 40.75
Others 42.66 15.99
TOTAL 310.61 105.35

4. The Company has recognised income of ₹ 70.20 Crore as inflated Mileage from Tori-Shivpur Rail Corridor during the current
Financial Year.

343
 NOTE 26: COST OF MATERIALS CONSUMED
(₹ in Crore)
For the Year ended For the Year ended
31.03.2023 31.03.2022
Explosives 441.13 263.94
Timber 0.09 —
Oil & Lubricants 543.21 416.63
HEMM Spares 141.44 130.15
Other Consumable Stores & Spares 44.96 44.43

Total 1,170.83 855.15

NOTE 27: CHANGES IN INVENTORIES OF FINISHED GOODS,

WORK IN PROGRESS AND STOCK IN TRADE
(₹ in Crore)
For the Year ended For the Year ended
31.03.2023 31.03.2022
A. Change in Inventory of Coal
Opening Stock of Coal 881.21 1,163.03
Closing Stock of Coal 965.24 881.21
(84.03) 281.82
B. Change in Inventory of Workshop made finished goods,
WIP and Press Jobs
Opening Stock of Workshop made finished goods, WIP and 4.92 1.96
Press Jobs
Closing Stock of Workshop made finished goods, WIP and 2.70 4.92
Press Jobs
2.22 (2.96)
Change in Inventory of Stock in trade (A+B) {Decretion / (81.81) 278.86
(Accretion)}

NOTE 28: EMPLOYEE BENEFIT EXPENSE

(₹ in Crore)

For the Year ended For the Year ended

31.03.2023 31.03.2022
Salary and Wages (incl. Allowances and Bonus etc.)1 5,557.91 4,247.07
Contribution to P.F. & Other Funds 1,370.31 1,022.67
Staff welfare Expenses 294.48 206.35
Total 7,222.70 5,476.09
1. Pending Finalisation of the National Coal Wages Agreement (NCWA-XI) for Non-Executives, considering the total impact of the
increase in all elements of salary & wages, an estimated provision of ₹ 1221.28 Crores has been recognised during the year. A
reference may be made to Foot Note- 4 of Note-21 to the Financial Statements.

344
 NOTE 29: CORPORATE SOCIAL RESPONSIBILITY EXPENSES
(₹ in Crore)

For the Year ended For the Year ended

31.03.2023 31.03.2022
CSR Expenses 43.39 53.14
Total 43.39 53.14
CSR Policy framed by Coal India Ltd. Incorporated the features of the Companies Act, 2013 and other relevant notifications.
The fund for CSR, 2% of the average net profit for the three immediate preceding financial years or ₹2.00 per tonne of
coal production of previous year, whichever is higher, comes to ₹ 46.28 Cr. (P.Y. ₹ 50.25 Cr.).
During the financial year 2021-22, the unspent CSR was ₹ 15.30 crore related to ongoing projects. Whereas, an amount
of ₹ 18.19 crore was transferred in the unspent CSR bank account opened in the said matter due to oversight. Hence, an
excess amount of ₹ 2.89 crore (i.e. ₹ 18.19 crore less ₹ 15.30 crore) has been transferred to unspent CSR bank account. This
has also resulted in accounting and reporting of excess CSR expenses of ₹ 2.89 Crore in previous financial year as ₹ 53.14
crore in place of ₹ 50.25 crore. The amount of ₹ 50.25 Crore has also been reported as 2% mandated CSR expenditure
in the Annual Report for the FY 2021-22 (Page No-105 of the Annual Report).As, any amount in excess of the minimum
required amount to be incurred under the provision of Section – 135 (5) of the Companies Act may be set off in the
succeeding financial year, accordingly, the CSR expenses for the current financial year has been accounted and reported as
₹ 43.39 crore in place of ₹ 46.28 crore after setting off the said excess amount of ₹ 2.89 crore being immaterial in the nature.
A. Activity wise break-up of CRS Expenses(including excess spent):
For the Year ended For the Year ended
31.03.2023 31.03.2022
Eradicating hunger, poverty and malnutrition 0.31 0.05

Promoting education, including special education and employment 8.09 3.45

enhancing vocation skills
Environmental sustainability 0.60 0.63

Benefit of armed forces veterans, war widows and their dependents — —

Training to promote rural sports, nationally recognised sports, paraolympic 5.11 3.84
sports and olympic sports
Contributions to Universities and Research Institutes — —

Rural development projects 2.56 0.40

Slum area development — —

Drinking Water 4.75 3.16

Health care 9.20 11.37

Sanitation 0.74 0.64

Welfare of Differently abled 0.10 0.09

Welfare of senior citizen 0.14 0.23
Others 1.63 0.95
Total 33.23 24.81
Add: Excess amount spent in previous Financial Year utilised in current year — 10.14
Grand Total 33.23 34.95

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Reconciliation of CSR Expenses recognised with Activity wise Break up of CSR Expenses spent

For the Year ended For the Year ended

31.03.2023 31.03.2022
Activity wise CSR amount spent 33.23 34.95

Less: Excess CSR Spent — —

Add: Unspent CSR amount on other than ongoing project — —

Add: Unspent CSR amount on ongoing project 10.16 18.19

CSR Expenses recognised during the year 43.39 53.14

B. CSR Expenditure Break-up

(₹ in Crore)

Particulars In Cash Yet to be paid in cash Total

(a) Amount Required to be spent during the year 43.39

(b) Amount approved by the Board to be spent during the year 43.39

(c) Amount spent during the year on:

(i) Construction/acquisition of any assets 4.17 2.34 6.51

(ii) On purpose other than (i) above 23.69 3.03 26.72

Total 27.86 5.37 33.23

C. Unspent amount Other than ongoing Project [Section 135(5)]

(₹ in Crore)
Amount deposited
Opening in Specified Fund Amount required Amount spent Closing
Balance of Sch. VII within 6 to be spent during during the year Balance
months the year
Unspent amount Other than — — — — —
ongoing Project

D. Excess amount spent [Section 135(5)]

(₹ in Crore)
Amount Required to Amount spent
Financial Year Opening Balance be spent during the during the year Closing Balance
year

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E. Ongoing Project [Section 135(6)]
(₹ in Crore)
Amount spent during the Closing Balance
Opening Balance Amount
year
required
Financial From with In Separate
In separate to be spent From
Year With Separate CSR Company CSR
CSR during the Company's
Company Unspent Unspent
Unspent A/c year bank A/C
A/C A/C
2021-22 — 18.19 50.25 34.95 7.04 — 11.15
2022-23 — 43.39 33.23 — — 10.16

F. Provision for Liability of CSR Expenses

(₹ in Crores)
Adjustment
Opening Addition during Closing
during the
Balance the period Balance
period
Provision for Liability of CSR Expenses
(included in Other Financial Liability 25.47 5.37 4.35 26.49
Current (Others ) - Note No.20)

347
 NOTE 30: REPAIRS
(₹ in Crore)

For the Year ended For the Year ended

31.03.2023 31.03.2022

Building 146.08 125.17

Plant & Machinery 95.98 143.64
Others 1.06 4.44
Total 243.12 273.25

NOTE 31: CONTRACTUAL EXPENSES

(₹ in Crore)

For the Year ended For the Year ended

31.03.2023 31.03.2022
Transportation Charges 467.02 522.47
Wagon Loading 40.66 46.41
Hiring of Plant and Equipments 1,319.51 1,208.18
Other Contractual Work 117.68 90.04
Total 1,944.87 1,867.10

NOTE 32: FINANCE COSTS

(₹ in Crore)
For the Year ended For the Year ended
31.03.2023 31.03.2022
Borrowings — —
Unwinding of discounts 75.44 81.77
Others — —

Total 75.44 81.77

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 NOTE 33: PROVISIONS
(₹ in Crore)
For the Year ended For the Year ended
31.03.2023 31.03.2022

Allowance/Provision made for

Doubtful debts 92.13 —
Doubtful Advances & Claims — —
Stores & Spares — 3.41
Others — —
Total 92.13 3.41

Note:
CCL used to supply Washed Medium Coking Coal (WMCC) to M/S SAIL & RINL at the price mutually agreed in MOU
(Memorandum of Undertakings) entered between CCL & SAIL / RINL, duly signed by the representatives of CCL and SAIL
(Steel Authority of India Limited) / RINL (Rashtriya Ispat Nigam Limited, also known as Vizag Steel). The last such MOU
executed was valid for FY 2016-17 i.e. up to 31.03.2017 and the agreed price applicable for FY 2016-17 was ₹ 5,780/- per
tonne.
As per CIL’s (Coal India Limited) direction, CCL notified the price of WMCC considering the doctrine of Import Parity as
envisaged by New Coal Distribution Policy (NCDP) of the Government. The notified price for the WMCC for Q1 & Q2 of
FY 2017-18 was ₹ 9,000/- per tonne, Q3 of FY 2017-18 ₹ 8,146/- per tonne and Q4 of FY 2017-18 & Q1 & Q2 of FY 2018-
19 as ₹ 8,315/- per tonne. However, both SAIL and RINL had raised their concerns in the said matter i.e. unilateral price
revision as against agreed price mechanism. Thereafter, several letters including discussions have been exchanged, but
no consensus has been agreed in the said matter.
However, a mutually agreed ad-hoc price @ ₹ 6,500/- per tonne has been implemented w.e.f. 28.07.2018 after several
round of persuasion in the said matter and further agreed to implement pricing on import parity price mechanism on
the recommendation of an independent agency. During the period from 01.04.2017 to 27.07.2018, the CCL continued
to raise invoices as per the applicable notified price, whereas, SAIL / RINL as continued to settled the claim as per the last
agreed price of FY 2016-17.
The difference between notified price and settled payment from 01.04.2017 to 27.07.2018 is ₹ 324.72 Crore against
which a provision of ₹ 232.59 Crore already exist. Accordingly, the company has made an additional provision of ₹ 92.13
Crore.

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 NOTE 34: WRITE OFF (Net of Provisions)
(₹ in Crore)
For the Year ended For the Year ended
31.03.2023 31.03.2022
Doubtful debts (Trade Receivable) 191.90 —
Less :- Provided earlier — —
191.90 —
Doubtful advances — 0.03
Less :- Provided earlier — —
— 0.03
Total 191.90 0.03
Note:
CCL used to supply Washed Medium Coking Coal (WMCC) to M/S SAIL & RINL at the price mutually agreed in MOU
(Memorandum of Undertakings) entered between CCL & SAIL / RINL, duly signed by the representatives of CCL and SAIL
(Steel Authority of India Limited) / RINL (Rashtriya Ispat Nigam Limited, also known as Vizag Steel). The last such MOU
executed was valid for FY 2016-17 i.e. up nto 31.03.2017 and the agreed price applicable for FY 2016-17 was ₹ 5,780/- per
tonne.
As per CIL’s (Coal India Limited) direction, CCl notified the price of WMCC as ₹ 11,500 per tonne with effect from 14/01/2017
considering the doctrine of Import Parity as envisaged by New Coal Distribution Policy (NCDP) of the Government.
However, both SAIL and RINL had raised their concerns in the said matter of unilateral revised price matter as the agreed
MOU was valid up to 31.03.2017.
Thereafter, several letters including discussions have been exchanged, but no consensus has been agreed in the said
matter. In one of the recent joint meeting between the officials of SAIL and CCL, it has been agreed to revisit the new
pricing methodology which is further subject to withdrawal of unilateral WMCC claim raised by the CCL in the said
matter. As there is no reasonable expectation of recovering of the said financial asset (i.e. trade receivables) for the
period 14.01.2017 to 31.03.2017 on account of agreed MOU terms and conditions, hence, an amount of ₹ 191.90 crore
representation unilateral WMCC price revision claim, which was previously recognised as ‘revenue from operations’ has
been recognised as bad-debts and written off as irrecoverable.

350
 NOTE 35: OTHER EXPENSES
(₹ in Crore)
For the Year ended For the Year ended
31.03.2023 31.03.2022

Travelling expenses 57.19 17.92

Training Expenses 9.03 13.24
Telephone & Internet 16.72 14.43
Advertisement & Publicity 2.20 1.89
Freight Charges — —
Demurrage 31.85 39.29
Security Expenses 278.48 315.98
Service Charges of CIL 152.07 137.70
Consultancy Charges to CMPDI 76.45 93.59
Legal Expenses 2.16 1.62
Consultancy Charges 0.53 1.90
Under Loading Charges 81.84 150.73
Loss on Sale/Discard/Surveyed of Assets 0.04 —
Auditor’s Remuneration & Expenses
For Audit Fees 0.30 0.30
For Taxation Matters — —
For Other Services 0.30 0.40
For Reimbursement of Exps. 0.09 0.12
Internal & Other Audit Expenses 3.28 3.30
Rehabilitation Charges 44.99 43.12
Lease Rent & Hire Charges 72.08 73.06
Rates & Taxes 21.43 151.68
Insurance 0.80 0.94
Loss on Exchange rate variance — —
Other Rescue/Safety Expenses 1.14 2.10
Siding Maintenance Charges 25.09 18.55
R & D expenses — 0.20
Environmental & Tree Plantation Expenses 19.38 9.94
Donation, Rewards & Grant 0.07 —
Expenses on Buyback of shares — —
Miscellaneous expenses 152.80 110.35
Total 1,050.31 1,202.35
1. Rehabilitation Charges as per the directives of Ministry of Coal, ₹ 45.02 Cr. (P.Y. ₹ 43.12 Cr.) is debited on the basis of
₹ 6 per tonne of coal despatch.
2. Service Charges amounting to ₹ 152.18 Cr. (P.Y. ₹ 137.70 Cr.) levied by CIL, the Holding Company @ ₹ 20 per tonne of coal produced

351
 towards rendering various services like procurement, marketing, Corporate Service etc. based on debit memo received from CIL.
NOTE 36: TAX EXPENSE
(₹ in Crore)
For the Year ended For the Year ended
31.03.2023 31.03.2022

Current Year 820.14 404.15

Deferred tax 174.52 (5.33)
Earlier Years — —
Total 994.66 398.82

Reconciliation of Tax Expenses and Accounting profit multiplied by India’s domestic Tax rate
Profit before Tax 3,751.74 2,097.76
Tax using the Company's domestic tax rate 944.90 528.21
Tax effect of:
Tax-exempt Income — —
Additional expenses allowed for tax purposes —
Non-deductable Tax Expenses (124.76) (124.06)
Adjustment for earlier year — —
Deferred Tax 174.52 (5.33)
Income Tax Expenses reported in Statement of Profit & Loss 994.66 398.82
Effective Income Tax Rate 26.51% 19.01%

Deferred Tax Assets/ (Liability)

Deferred Tax Assets:

Provision for Doubtful Advances, Claims & Debts 148.93 215.65

Provision for Employee Benefits 431.26 501.37
Others (Includes Taxable Losses) 145.35 131.88
Total Deferred Tax Assets (A) 725.54 848.90
Deferred Tax Liability:

Related to Fixed Assets 220.59 169.43

Others — —
Total Deferred Tax Liability (B) 220.59 169.43
Net (C=A-B) 504.95 679.47
Remeasurement of Defined benefit Plan (D) — —
Net Deferred Tax Assets/ (Deferred Tax Liability) (C+D) 504.95 679.47

352
 NOTE 37: OTHER COMPREHENSIVE INCOME

(₹ in Crore)
For the Year ended For the Year ended
31.03.2023 31.03.2022
(A) Items that will not be reclassified to profit or loss
Remeasurement of defined benefit plans 237.32 (68.68)
Total (A) 237.32 (68.68)
(B) Income tax relating to items that will not be reclassified
to profit or loss
Remeasurement of defined benefit plans 59.73 (17.29)
Total (B) 59.73 (17.29)
Total [C = A – B] 177.59 (51.39)

Income tax on remeasurement of defined benefit plans includes current tax ₹ 59.73 Cr. for the year ended 31.03.2023 (for
the year ended 31.03.2022 ₹ (17.29) Cr. and/or Deferred tax ₹ NIL for the period ended 31.03.2023 (for the year ended
31.03.2022 ₹ NIL)

353
 NOTE 38 : ADDITIONAL NOTE TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023 (CONSOLIDATED)

1. FAIR VALUE MEASUREMENT

(a) Financial Instruments by Category
(₹ in Crore)

31st March 2023 31st March 2022

AMORTISED AMORTISED
FVTPL FVTPL
COST COST
Financial Assets

Investments* : — — — —

Preference Shares

– Equity Component — — — —

– Debt Component — — — —

Mutual Fund/ICD 818.59 — 64.72 —

Other Investments — — — —

Loans — 5.81 — 2.06

Deposits & receivable — 1,858.63 — 1,470.76

Trade receivables — 3,001.17 — 2,149.65

Cash & cash equivalents — 980.44 — 747.32

Other Bank Balances — 2,533.87 — 1,513.04

Financial Liabilities

Borrowings — — — —

Trade payables — 1,315.11 — 1,563.64

Security Deposit and Earnest money — 646.49 — 412.56

Other Liabilities — 800.73 — 759.95

(b) Fair value hierarchy

Table below shows judgments and estimates made in determining the fair values of the financial instruments that are (a)
recognized and measured at fair value and (b) measured at amortized cost and for which fair values are disclosed in the financial
statements. To provide an indication about the reliability of the inputs used in determining fair value, the company has classified
its financial instruments into the three levels prescribed under the accounting standard.

354
 (₹ in Crore)
31st March 2023 31st March 2022
Financial assets and liabilities measured at fair value
Level 1 Level 3 Level 1 Level 3
Financial Assets at FVTPL

Investments :

Mutual Fund/ICD — — — —

Financial Liabilities

If any item — — — —

Financial assets and liabilities measured at amortized costfor 31st March 2023 31st March 2022
which fair values are disclosed at 31st March, 2023 Level 1 Level 3 Level 1 Level 3
Financial Assets

Investments:

Preference Shares

– Equity Component — — — —

– Debt Component — — — —

Mutual Fund/ICD 818.59 — 64.72 —

Other Investments — — — —

Loans — 5.81 — 2.06

Deposits & receivable — 1,858.63 — 1,470.76

Trade receivables — 3,001.17 — 2,149.65

Cash & cash equivalents — 980.44 — 747.32

Other Bank Balances — 2,533.87 — 1,513.04

Financial Liabilities

Borrowings — — — —

Trade payables — 1,315.11 — 1,563.64

Security Deposit and Earnest money — 646.49 — 412.56

Other Liabilities — 800.73 — 759.95

355
A brief of each level is given below.

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. This includes Mutual fund which
is valued using closing Net Asset Value (NAV) as at the reporting date.
Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation
techniques which maximize the use of observable market data and rely as little as possible on entity- specific estimates.
If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in
level 3. This is the case for unlisted equity securities, preference shares borrowings, security deposits and other liabilities
taken.
(c) Valuation technique used in determining fair value
Valuation techniques used to value financial instruments include the use of quoted market prices (NAV) of
instruments in respect of investment in Mutual Funds.

(d) Fair value measurements using significant unobservable inputs

At present there are no fair value measurements using significant unobservable inputs.
(e) Fair values of financial assets and liabilities measured at amortised cost
• The carrying amounts of trade receivables, short term deposits, cash and cash equivalents, trade payables are
considered to be the same as their fair values, due to their short-term nature.
• The Group considers that the Security Deposits does not include a significant financing component. The
security deposits coincide with the group’s performance and the contract requires amounts to be retained
for reasons other than the provision of finance. The withholding of a specified percentage of each milestone
payment is intended to protect the interest of the company, from the contractor failing to adequately complete
its obligations under the contract. Accordingly, transaction cost of Security deposit is considered as fair value
at initial recognition and subsequently measured at amortised cost.
Significant estimates: The fair value of financial instruments that are not traded in an active market is determined using
valuation techniques. The group uses its judgment to select a method and makes suitable assumptions at the end of
each reporting period.

2. FINANCIAL RISK MANAGEMENT

Financial Risk Management Objectives and Policies
The group’s principal financial liabilities comprise trade and other payables. The main purpose of these financial
liabilities is to finance the group’s operations and to provide guarantees to support its operations. The group’s principal
financial assets include loans, trade and other receivables, and cash and cash equivalents that is derived directly from its
operations.
The group is exposed to market risk, credit risk and liquidity risk. The group’s senior management oversees the management
of these risks. The group’s senior management is supported by a risk committee that advises, inter alia, on financial risks
and the appropriate financial risk governance framework for the group. The risk committee provides assurance to the
Board of Directors that the group’s financial risk activities are governed by appropriate policies and procedures and that
financial risks are identified, measured and managed in accordance with the group’s policies and risk objectives. The
Board of Directors reviews and agrees to policies for managing each of these risks, which are summarized below.

356
This note explains the sources of risk which the entity is exposed to and how the entity manages the riskand the impact of
hedge accounting in the financial statements.

Risk Exposure arising from Measurement Management

Department of Public
Cash and Cash equivalents,
enterprises (DPE) guidelines,
trade receivables financial Ageing analysis/ Credit
Credit Risk diversification of bank deposits
asset measured at amortised rating
credit limits and other securities
cost

Availability of committed credit

Liquidity Risk Borrowings and other lines and borrowing facilities
Periodic cash flows
liabilities

Future commercial
Market Risk-foreign Regular watch and review by
transactions, recognized Cash flow forecast
exchange senior management and audit
financial assets and liabilities sensitivity analysis
committee.
not denominated in INR

Department of public enterprises

Cash and Cash equivalents, (DPE) guidelines, Regular watch
Cash flow forecast
Market Risk-interest rate Bank deposits and mutual and review by senior management
sensitivity analysis
funds and audit committee.

The group’s risk management is carried out by the Board of Directors as per DPE guidelines issued by Government of
India. The Board provides written principles for overall risk management as well as policies covering investment of excess
liquidity.

A. Credit Risk

Credit risk management

Receivables arise mainly out of sale of Coal. Sale of Coal is broadly categorized as sale through fuel supply agreements
(FSAs) and e-auction.

Macro - economic information (such as regulatory changes) is incorporated as part of the fuel supply agreements (FSAs)
and e-auction terms.
Fuel Supply Agreements (FSAs)

As contemplated in and in accordance with the terms of the New Coal Distribution Policy (NCDP), the company enters
into legally enforceable FSAs with customers or with State Nominated Agencies that in turn enters into appropriate
distribution arrangements with end custome₹ Our FSAs can be broadly categorized into:
l FSAs with customers in the power utilities sector, including State power utilities, private power utilities (“PPUs”) and
independent power producers (“IPPs”);
l FSAs with customers in non-power industries (including captive power plants (“CPPs”)); and
l FSAs with State Nominated Agencies.

357
E-Auction Scheme
The E-Auction scheme of coal has been introduced to provide access to coal for customers who were not able to source
their coal requirement through the available institutional mechanisms under the NCDP for various reasons, for example,
a less than full allocation of their normative requirement under NCDP, seasonality of their coal requirement and limited
requirement of coal that does not warrant a long-term linkage. The quantity of coal to be offered under E-Auction is
reviewed from time to time by the Ministry of Coal.
Provision for Expected Credit Loss:
The Group provides for expected credit risk loss for doubtful/ credit impaired assets, by lifetime expected credit losses
(Simplified approach).
Expected Credit losses for trade receivables under simplified approach
As on 31.03.2023
(₹ in Crore)
Due for 2 Due for 6 Due for 1 Due for 2 Due for 3 Due for more
Ageing months months year years years than 3 years Total

Gross Carrying Amount 860.79 1,055.96 286.48 836.99 9.01 509.84 3,559.07

Expected Loss rate (%) 4.14 3.43 17.40 0.48 63.82 100.00* 15.68

Expected Credit Loss allowance – — — — — — 380.39 380.39

Doubtful debts
- Grade variance 35.65 36.26 49.84 4.04 5.75 45.98 177.52

As on 31.03.2022
(₹ in Crore)
Due for
Due for 2 Due for 6 Due for 1 Due for 2 Due for 3
Ageing more than 3
months months year years years Total
years
Gross Carrying Amount 474.62 416.39 352.96 963.37 274.31 515.23 2,996.88

Expected Loss rate (%) (0.14) (0.11) 0.51 15.25 21.70 100.00* 27.62

Expected Credit Loss allowance – — — — — 288.26 288.26

—
Doubtful debts
– Grade variance (0.68) (0.46) 1.80 142.80 59.53 329.00 531.99

* includes Provision against customers with advances

358
Reconciliation of loss allowance provision – Trade receivables
(₹ in Crore)

Particulars Bad & Doubtful Quality

Debts Variance
Loss allowance on 01.04.2022 288.26 531.99

Change in loss allowance 92.13 (354.47)

Loss allowance on 31.03.2023 380.39 177.52

Significant estimates and judgments for Impairment of financial assets

The impairment provisions for financial assets disclosed above are based on assumptions about risk of default and
expected loss rates. The group uses judgment in making these assumptions and selecting the inputs to the impairment
calculation, based on the Group’s past history, existing market conditions as well as forward looking estimates at the end
of each reporting period.

B. Liquidity Risk
Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of
funding through an adequate amount of committed credit facilities to meet obligations when due. Due to the dynamic
nature of the underlying businesses, group treasury maintains flexibility in funding by maintaining availability under
committed credit lines.

Management monitors forecasts of the group’s liquidity position (comprising the undrawn borrowing facilities) and
cash and cash equivalents on the basis of expected cash flows. This is generally carried out at local level in accordance
with practice and limits set by the group. The bank borrowings has been secured by creating charge against stock of
coal, stores and spare parts and book debts of CIL and its Subsidiary Companies within consortium of banks. The total
working capital credit limit available to CIL is ₹ 430.00 Crore, of which fund based limit is ₹ 140.00 Crore and non-fund
based limit is ₹ 290.00 Crore. Further, ₹ 5000.00 Crore was set up as non-fund-based limit outside consortium in order to
facilitate import of HEMM. Coal India Limited is contingently liable to the extent such facility is actually utilized by the
Subsidiary Companies.

C. Market Risk
(a) Foreign currency risk

Foreign currency risk arises from future commercial transactions and recognized assets or liabilities denominated
in a currency that is not the group’s functional currency (INR). The Group is exposed to foreign exchange risk
arising from foreign currency transactions. Foreign exchange risk in respect of foreign operation is considered
to be insignificant. The Group also imports and risk is managed by regular follow up. Group has a policy which is
implemented when foreign currency risk becomes significant.

(b) Cash flow and fair value interest rate risk

The Group’s main interest rate risk arises from bank deposits. Change in interest rate exposes the Group to cash
flow interest rate risk. Group’s policy is to maintain most of its deposits at fixed rate.

Group manages the risk using guidelines from Department of public enterprises (DPE), diversification of bank
deposits credit limits and other securities.

Capital Management
The company being a government entity manages its capital as per the guidelines of Department of investment and
public asset management under Ministry of Finance.

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Capital Structure of the company is as follows:
(₹ in Crore)
Particulars 31.03.2023 31.03.2022
Equity Share capital 940.00 940.00
Long term debt — —
3. EMPLOYEE BENEFITS: RECOGNITION AND MEASUREMENT (Ind AS-19)

3.1 Defined Benefit Plans:

(a) Gratuity
The Group provides for gratuity, a post-employment defined benefit plan (“the Gratuity Scheme”) covering the
eligible employees. The Gratuity Scheme is fully funded through trust maintained with Life Insurance Corporation
of India, wherein employer contribution is 2.01% of basic salary and Dearness allowances. Every employee who
has rendered continuous service of more than 5 years or more is entitled to receive gratuity amount equal to 15
days salary for each completed years of service computed as (15 days/26 days in a month* last drawn salary and
dearness allowance* completed years of service) subject to maximum of ₹ 0.20 crores at the time of separation
from the group considering the provisions of the Payment of Gratuity Act 1972 as amended. The liability or asset
recognised in the balance sheet in respect of the Gratuity Scheme is the present value of the defined benefit
obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is
calculated at each reporting date by actuary using the projected unit credit method. Re-measurement gains and
losses arising from experience adjustments and changes in actuarial assumptions are recognised in the year in
which they occur, directly in other comprehensive income (OCI).
b) Post-Retirement Medical Benefit – Executive (CPRMSE)
The Group has post-retirement medical benefit scheme known as Contributory Post Retirement Medicare Scheme
for Executive of CIL and its Subsidiaries (CPRMSE), to provide medical care to the executives and their spouses in
Group hospital/empaneled hospitals or outpatient/Domiciliary only in India subject to ceiling limit, on account of
retirement on attaining the age of superannuation or are separated by the Group on medical ground or retirement
under Voluntary Retirement Scheme under common coal cadre or Voluntary Retirement Scheme formulated and
made applicable from time to time. Membership is not extended to the executives who resigns from the services
of the CIL and its subsidiaries. The maximum amount reimbursable during the entire life for the retired executives
and spouse taken together jointly or severally is ₹ 25 lakhs except for specified diseases with no upper limit. The
Scheme is funded through trust maintained by the CIL at group level solely for this purpose, wherein employer
contribution is 2% of basic salary and Dearness Allowance per month. The liability for the scheme is recognised
based on actuarial valuation done at each reporting date.

3.2 Defined Contribution Plans

i) Provident Fund and Pension
Group pays fixed contribution towards Provident Fund and Pension Fund at pre-determined rates based on a
fixed percentage of the eligible employee’s salary i.e. 12% and 7% of Basic salary and Dearness Allowance towards
Provident Fund and Pension Fund respectively to a separate trust named Coal Mines Provident Fund (CMPF). The
contribution towards the fund during the year ended 31.03.2023 is ₹ 686.31 Crore (₹ 622.98 Crore) has been
recognized in the Statement of Profit & Loss (Note 28).

360
ii) Post-Retirement Medical Benefit – Non- Executive (CPRMSE-NE)
As a part of social security scheme under wage agreement, Company is providing Contributory Post- Retirement
Medicare Scheme for non-executives (CPRMSE-NE), wherein fixed amount is being contributed by the Group and
charged to statement of profit and loss.
iii) CIL Executive Defined Contribution Pension Scheme (NPS)
The company provides a post-employment contributory pension scheme to the executives of the Group known
as “CIL Executive Defined Contribution Pension Scheme -2007” (NPS). NPS is being administered through separate
trust at group level solely formed for the purpose. The obligation of the Group is to contribute to the trust to the
extent of amount not exceeding 30% of basic pay and dearness allowance less employer’s contribution towards
provident fund, gratuity, post-retirement medical benefits -Executive i.e. CPRMSE or any other retirement benefits.
The current employer contribution of 6.99% of basic and Dearness Allowance is being charged to statement of
profit and loss.

3.3 Other Long Term Employee Benefits

i) Leave encashment
The Group provides benefit of total Earned Leave (EL) of 30 days and Half Paid Leave (HPL) of 20 days to the
employees of the Group, accrued and credited proportionately on half yearly basis on the first day of January
and July of every year. During the service, 75% EL credited balance is one time encashable in each calendar year
subject to ceiling of maximum 60 days EL encashment. Accumulated HPL is not permitted for encashment during
the period of service. On superannuation, EL and HPL together is considered for encashment subject to the overall
limit of 300 days without commutation of HPL. Therefore, the liabilities for earned leave are expected to be settled
during the service as well as after the retirement of employee. They are therefore measured as the present value of
expected future payments to be made in respect of services provided by employees up to the end of the reporting
period using the projected unit credit method. The benefits are discounted using the market yields at the end of
the reporting period that have terms approximating to the terms of the related obligation. The Scheme is fully
funded through trust maintained with Life Insurance Corporation of India.
ii) Life Cover Scheme (LCS)
As a part of social security scheme under wage agreement, the Group has Life Cover Scheme under Deposit Linked
Insurance Scheme, 1976 notified by the Ministry of Labour, Government of India, known as “Life Cover Scheme of
Coal India Limited” (LCS). An amount of ₹ 1,25,000 is paid under the scheme w.e.f 01.10.2017. The cost under the
scheme is borne by the group.
iii) Settlement Allowances
As a part of wage agreement, a lump sum amount of ₹ 12000/- is paid to all the non-executive cadre employees
governed under NCWA on their superannuation on or after 31.10.2010 as settling-in allowance. The liability for the
scheme is recognised based on actuarial valuation at each Balance Sheet date.
iv) Group Personal Accident Insurance (GPAIS)
Group has taken group insurance scheme from United India Insurance Company Limited to cover the executives
of the company against personal accident known as “Coal India Executives Group Personal Accident Insurance
Scheme” (GPAIS). GPAIS covers all types of accident on 24-hour basis worldwide. Premium for the scheme is borne
by the Group.
v) Leave Travel Concession (LTC)
As a part of wage agreement, Non-executive employees are entitled to travel assistance for visiting their home
town and for “Bharat Bhraman” once in a block of 4 year. A lump sum amount of ₹ 8000/- and ₹ 12000/- is paid
for visiting Home town and “Bharat Bhraman”, respectively. The liability for the scheme is recognised based on

361
 actuarial valuation at each Balance Sheet date.
vi) Compensation to Dependent on Mine Accident Benefits
As a part of social security scheme under wage agreement, the company provides the benefits admissible under
The Employee’s Compensation Act, 1923. An amount of ₹ 15 lakhs is paid to the next of kin of an employee in case
of a fatal mine accident w.e.f 07.11.2019. The expected cost of the benefits is recognized when an event occurs that
causes the benefit payable under the scheme.
vii) Funding status of defined benefit plans, defined contribution plans and other long term employee benefits
plans, are as under:

Funded Unfunded
o Gratuity o Life Cover Scheme
o Leave Encashment o Settlement Allowance
o Medical Benefits o Group Personal Accident Insurance
o Provident Fund o Leave Travel Concession
o Pension Schemes o Compensation to dependent on Mine Accident Benefits
viii) Total liability as on 31.03.2023 based on valuation made by the Actuary is ₹ 4,156.18 Crore, details of which
are mentioned below:
(₹ in Crore)
Opening Actuarial Incremental Liability / Closing Actuarial
Particulars Liability Adjustment Liability
as on 01.04.2022 during the Year as on 31.03.2023
Gratuity 2,796.73 (81.48) 2,715.25
Leave 527.83 257.69 785.52
Settlement Allowance Executives 11.84 (1.28) 10.56
Settlement Allowance- Non-exe. 12.22 (0.42) 11.80
Leave Travel Concession 34.42 1.22 35.64
Medical Benefits Executives 225.94 9.92 235.86
Medical Benefits Non-Executives 371.63 (10.08) 361.55
Total 3,980.61 175.57 4,156.18

3.4 Disclosure as per Actuary’s Certificate

The disclosures as per actuary’s certificate for employee benefits for Gratuity (funded), Leave Encashment (funded)
& PRMB (funded) are given below:

362
3.4.1 ACTUARIAL VALUATION OF GRATUITY LIABILITY AS AT 31.03.2023 CERTIFICATES AS PER IND AS 19 (2015)

TABLE 1

Disclosure of Defined Benefit Cost for the Year ending 31st March 2023
(₹ in Crore)

One year ending One year ending

A Profit & Loss (P&L)
31st March 2022 31st March 2023
1 Current Service Cost 135.70 64.03
2 Past Service Cost-Plan amendments — —
3 Curtailment Cost/(Credit) — —
4 Settlement Cost/(Credit) — —
5 Service Cost 135.70 64.03
6 Net interest on net defined benefit liability/ (asset) 57.61 39.97
7 Immediate recognition of (gains)/losses-other long term employee — —
benefit plans
8 Cost recognized in P&L 193.31 103.99
B Other Comprehensive Income (OCI)
1 Actuarial (gain)/loss due to DBO experience 99.67 (75.04)
2 Actuarial (gain)/loss due to DBO assumption changes 10.51 (99.82)
3 Actuarial (gain)/loss arising during period 110.18 (174.86)
4 Return on plan assets (greater)/less than discount rate (6.39) (23.85)
5 Actuarial (gain)/loss recognized in OCI 103.79 (198.71)
C Defined Benefit Cost
1 Service cost 135.70 64.03
2 Net interest on net defined benefit liability /(asset) 57.61 39.97
3 Actuarial (gains)/loss recognized in OCI 103.79 (198.71)
4 Immediate recognition of (gains)/losses-other long term employee — —
benefit plans
5 Defined Benefit Cost 297.10 (94.71)
D Assumption as at 31 March 2022
st
31 March 2023
st

1 Discount Rate 6.85% 6.80%

2 Rate of salary increase Executive 9% Executive 9%
Non-Executive Non-Executive
6.25% 6.25%

363
 TABLE 2
Net Balance Sheet position as at 31st March 2023
(₹ in Crore)
One year ending One year ending
A Development of Net Balance Sheet Position
31st March 2022 31st March 2023
1 Defined Benefit Obligation (DBO) (2,796.73) (2,715.25)
2 Fair value of plan assets (FVA) 1,988.60 2,442.63
3 Funded status [surplus/(deficit)] (808.12) (272.62)
4 Effect of Asset ceiling — —
5 Net defined benefit asset/(liability) (808.12) (272.62)
B Reconciliation of Net Balance Sheet Position
1 Net defined benefit asset/(liability) at end of prior period (1,171.11) (808.12)
2 Service cost (135.70) (64.03)
3 Net interest on net defined benefit liability/(asset) (57.61) (39.97)
4 Amount recognized in OCI (103.79) 198.71
5 Employer contributions 471.07 440.79
6 Benefit paid directly by the Company 189.01 —
7 Acquisitions credit/(cost) — —
8 Divestitures — —
9 Cost of termination benefits — —
10 Net defined benefit asset/(liability) at end of current period (808.12) (272.62)
C Assumptions as at 31st March 2022 31st March 2023
1 Discount Rate 6.80% 7.30%
2 Rate of salary increase Executive 9% Executive 9%
Non-Executive 6.25% Non-Executive 6.25%

TABLE 3

Changes in Benefit Obligations and Assets over the year ending 31st March 2023
(₹ in Crore)

One year ending One year ending

A Change in Defined Benefit Obligstion (DBO)
31st March 2022 31st March 2023
1 DBO at end of prior period 2,757.22 2,796.73
2 Current service cost 135.70 64.03
3 Interest cost on the DBO 175.78 184.89
4 Curtailment (credit)/cost — —
5 Settlement (credit)/cost — —
6 Past service cost-plan amendments — —
7 Acquistions (credit)/cost — —
8 Actuarial (gain)/loss- experience 99.67 (75.04)
9 Actuarial (gain)/loss- demographic assumptions — —
10 Actuarial (gain)/loss- financial assumptions 10.50 (99.82)
11 Benefits paid directly by the Company (189.01) —
12 Benefits paid from plan assets (193.14) (155.54)
13 DBO at end of current period 2,796.73 2,715.25

364
 B Change in fair Value of Assets
1 Fair value of assets at end of prior period 1,586.11 1,988.60
2 Acquistion adjustment — —
3 Interest income on plan assets 118.17 144.92
4 Employer contributions 471.07 440.80
5 Return on plan assets greater/(lesser) than discount rate 6.39 23.85
6 Benefits paid (193.14) (155.54)
7 Fair Value of assets at the end of current period 1,988.60 2,442.63

TABLE 4

Additional Disclosure Information

A Expected benefit payments for the year ending

1 March 31, 2024 215.27
2 March 31, 2025 222.08
3 March 31, 2026 255.51
4 March 31, 2027 304.84
5 March 31, 2028 297.00
6 March 31, 2029 to March 31, 2033 1,502.44
7 Beyond 10 years 2,572.74
B Expected employer contribution for the period ending 31 March, 2024
st
54.73
C Weighted average duration of defined benefit obligation 8 years
D Accrued Benefit Obligation at 31st March 2023 2,116.55
E Plan Asset Information as at 31 March 2023
st
Percentage
1 Government of India Securities (Central and State) 0.00%
2 High quality corporate bonds (including Public Sector Bonds) 0.00%
3 Equity shares of listed companies 0.00%
4 Property 0.00%
5 Cash (including Special Deposits) 0.00%
6 Schemes of insurance- conventional products 100.00%
7 Schems of insurance-ULIP products 0.00%
8 Other 0.00%
Total 100.00%
F Current and Non-Current Liability Breakup as at 31 March 2023
st
Total
1 Current Liability 207.82
2 Non-Current Asset/(Liability) 2,507.43
3 Liability as at 31 March 2023
st
2,715.25
Note: This report provides basic information in relation to plan assets. Additional input may be required by the Company
in relation to the plan asset disclosures specified in paragraphs 142, 143 of Ind AS 19.

365
 TABLE 5
Sensitivity Analysis
DBO on base assumptions as at 31st March 2023 2,715.25
These assumptions are summarized in Appendix C of the report
A Discount Rate as at 31st March 2023 7.30%
1 Effect on DBO due to 0.5% increase in Discount rate (93.42)
Percentage Impact -3%
2 Effect on DBO due to 0.5% decrease in Discount rate 99.82
Percentage Impact 4%
B Salary Escalation rate as at 31st March 2023 Executive 9%
Non-Executive 6.25%
1 Effect on DBO due to 0.5% increase in Discount Rate 34.74
Percentage Impact 1%
2 Effect on DBO due to 0.5% decrease in Discount Rate (36.46)
Percentage Impact -1%
Summary of Membership Data
Below is a summary of the active members of the plan:
Executives 31st March 2022 31st March 2023
1 Number of Employees 2,257 2,244
2 Total monthly salary (INR) 30.08 31.19
3 Total annual Salary (INR) 360.92 374.32
4 Average annual Salary (INR) 0.16 0.17
5 Average attained age (years) 42.39 41.85
6 Average past service (years) 15.57 14.62
Non-Executives
1 Number of Employees 33,403 32,482
2 Total monthly salary (INR) 222.38 230.56
3 Total annual Salary (INR) 2,668.57 2,766.75
4 Average annual Salary (INR) 0.08 0.09
5 Average attained age (years) 45.34 45.52
6 Average past service (years) 20.74 20.85
Note: Executives include KMP employees

Assumption
The actuarial assumptions (deographic & financial) employed for the calculations as at 31st March 2022 and 31st March
2023 are as follows:
Assumptions 31st March 2022 31st March 2023
Discount Rate 6.80% 7.30%
Salary Escalation rate Executive 9% Executive 9%
Non-Executive 6.25% Non-Executive 6.25%
Withdrawal Rate 0.30% 0.30%
Mortality Rate Indian Assured Lives Indian Assured Lives
Mortality (2006-08) Ultimate Mortality (2006-08) Ultimate

366
Specimen Mortality rates

Age Rates Age Rates

20 0.000888 45 0.002874
25 0.000984 50 0.004946
30 0.001056 55 0.007888
35 0.001282 60 0.011534
40 0.001803 65 0.017009

3.4.2 ACTUARIAL VALUATION OF LEAVE ENCASHMENT BENEFIT (EL/HPL) AS AT 31.03.2023

CERTIFICATES AS PER IND AS 19 (2015)

TABLE 1

Disclosure of Defined Benefit Cost for the One Year period ending 31st March 2023
(₹ in Crore)
One year ending One year ending
A Profit & Loss (P&L)
31st March 2022 31st March 2023
1 Current Service Cost 88.13 139.19
2 Past Service Cost-Plan amendments — —
3 Curtailment Cost/(Credit) — —
4 Settlement Cost/(Credit) — —
5 Service Cost 88.13 139.19
6 Net interest on net defined benefit liability/ (asset) 21.90 17.18
7 Immediate recognition of (gains)/losses-other long term 21.89 16.87
employee benefit plans
8 Cost recognized in P&L 131.91 325.06
B Other Comprehensive Income (OCI)
1 Actuarial (gain)/loss due to DBO experience 17.32 211.74
2 Actuarial (gain)/loss due to DBO assumption changes 2.56 (39.26)
3 Actuarial (gain)/loss arising during period 19.88 172.48
4 Return on plan assets (greater)/less than discount rate 2.00 (3.79)
5 Actuarial (gain)/loss recognized in OCI — —
C Defined Benefit Cost
1 Service cost 88.13 139.19
2 Net interest on net defined benefit liability /(asset) 21.90 17.18
3 Actuarial (gains)/loss recognized in OCI — —
4 Immediate recognition of (gains)/losses-other long term 21.89 168.70
employee benefit plans
5 Defined Benefit Cost 131.91 325.06
D Assumption as at 31st March 2022 31st March 2023
1 Discount Rate 6.80% 6.80%
2 Rate of salary increase Executive 9% Executive 9%
Non-Executive 6.25% Non-Executive 6.25%

367
 TABLE 2
Net Balance Sheet position as at 31st March 2023
(₹ in Crore)
One year ending One year ending
A Development of Net Balance Sheet Position
31st March 2022 31st March 2023
1 Defined Benefit Obligation (DBO) (527.83) (785.52)
2 Fair value of plan assets (FVA) 215.25 267.88
3 Funded status [surplus/(deficit)] (312.58) (517.64)
4 Effect of Asset ceiling — —
5 Net defined benefit asset/(liability) (312.58) (517.64)
B Reconciliation of Net Balance Sheet Position
1 Net defined benefit asset/(liability) at end of prior period (458.65) (312.58)
2 Service cost (88.13) (139.19)
3 Net interest on net defined benefit liability/(asset) (21.90) (17.18)
4 Amount recognized in OCI (21.89) (168.70)
5 Employer contributions 140.00 120.00
6 Benefit paid directly by the Company 137.97 —
7 Acquisitions credit/(cost) — —
8 Divestitures — —
9 Cost of termination benefits — —
10 Net defined benefit asset/(liability) at end of current period (312.58) (517.64)
C Assumptions as at 31 March 2022
st
31 March 2023
st

1 Discount Rate 6.80% 7.30%

2 Rate of salary increase Executive 9% Executive 9%
Non-Executive 6.25% Non-Executive 6.25%
TABLE 3
Changes in Benefit Obligations and Assets over the year ending 31st March 2023
(₹ in Crore)
One year ending One year ending
A Change in Defined Benefit Obligation (DBO)
31st March 2022 31st March 2023
1 DBO at end of prior period 586.71 527.83
2 Current service cost 88.13 139.19
3 Interest cost on the DBO 33.33 32.94
4 Curtailment (credit)/cost — —
5 Settlement (credit)/cost — —
6 Past service cast-plan amendments — —
7 Acquistions (credit)/cost — —
8 Actuarial (gain)/loss- experience 17.32 211.74
9 Actuarial (gain)/loss- demographic assumptions — —
10 Actuarial (gain)/loss- financial assumptions 2.56 (39.26)
11 Benefits paid directly by the Company (137.97) —

368
 12 Benefits paid from plan assets (62.24) (86.92)
13 DBO at end of current period 527.83 785.52
B Change in fair Value of Assets
1 Fair value of assets at end of prior period 128.06 215.25
2 Acquistion adjustment — —
3 Interest income on plan assets 11.44 15.76
4 Employer contributions 140.00 120.00
5 Return on plan assets greater/(lesser) than discount rate (2.00) 3.79
6 Benefits paid (62.24) (86.92)
7 Fair Value of assets at the end of current period 215.25 267.88

TABLE 4
Additional Disclosure Information
(₹ in Crore)
A Expected benefit payments for the year ending
1 March 31, 2024 51.56
2 March 31, 2025 59.57
3 March 31, 2026 64.53
4 March 31, 2027 74.02
5 March 31, 2028 69.57
6 March 31, 2029 to March 31, 2033 361.05
7 Beyond 10 years 1,356.88
B Expected employer contribution for the period ending 31 March, 2024 141.13
C Weighted average duration of defined benefit obligation 10 years
D Accrued Benefit Obligation at 31 March 2023 453.12
E Plan Asset Information as at 31 March 2023 Percentage
1 Government of India Securities (Central and State) 0.00%
2 High quality corporate bonds (including Public Sector Bonds) 0.00%
3 Equity shares of listed companies 0.00%
4 Property 0.00%
5 Cash (including Special Deposits) 0.00%
6 Schemes of insurance- conventional products 100.00%
7 Schems of insurance-ULIP products 0.00%
8 Other 0.00%
Total 100.00%
F Current and Non-Current Liability Breakup as at 31st March 2023
Total
1 Current Liability 49.77
2 Non-Current Asset/(Liability) 735.75
3 Liability as at 31 March 2023 785.52
Note: This report provides basic information in relation to plan assets. Additional input may be required by the Company in
relation to the plan asset disclosures specified in paragraphs 142, 143 of Ind AS 19.

369
 TABLE 5
Sensitivity Analysis
DBO on base assumptions as at 31 March 2023 785.52

These assumptions are summarized in Appendix C of the report

A Discount Rate as at 31 March 2023 7.30
1 Effect on DBO due to 0.05% increase in Discount rate (35.99)
Percentage Impact -5%
2 Effect on DBO due to 0.05% decrease in Discount rate 39.26
Percentage Impact 5%
B Salary Escalation rate as at 31 March 2023 Executive 9%
Non-Executive 6.25%
1 Effect on DBO due to 0.5% increase in Discount Rate 39.11
Percentage Impact 5%
2 Effect on DBO due to 0.5% decrease in Discount Rate (36.20)
Percentage Impact -5%
Summary of Membership Data
Below is a summary of the active members of the plan:
Executives 31st March 2022 31st March 2023
1 Number of Employees 2,257 2244
2 Total monthly salary (INR) 30.08 31.19
3 Total annual Salary (INR) 360.92 374.32
4 Average annual Salary (INR) 0.16 0.17
5 Average attained age (years) 42.39 41.85
6 Total capped Leave Balance (days) 182986 259485
7 Total capped Half Pay Leave Balance (days) 60513.50 131018

Non-Executives
1 Number of Employees 33,403 32482
2 Total monthly salary (INR) 222.38 230.56
3 Total annual Salary (INR) 2,668.57 2766.75
4 Average annual Salary (INR) 0.08 0.09
5 Average attained age (years) 45.34 45.52
6 Total capped Leave Balance (days) 16,64,156 2073342
7 Total capped Half Pay Leave Balance (days) — —
Note: Executives include KMP employees

370
Assumption
The actuarial assumptions (deographic & financial) employed for the calculations as at 31 March 2022 and 31 March 2023
are as follows:
Assumptions 31st March 2022 31st March 2023
Discount Rate 6.80% 7.30%
Salary Escalation rate Executive 9% Executive 9%
Non-Executive 6.25% Non-Executive 6.25%
Withdrawal Rate 0.30% 0.30%
Mortality Rate Indian Assured Lives Indian Assured Lives
Mortality (2006-08) Mortality (2006-08)
Ultimate Ultimate
Specimen Mortality rates

Age Rates Age Rates

20 0.000888 45 0.002874
25 0.000984 50 0.004946
30 0.001056 55 0.007888
35 0.001282 60 0.011534
40 0.001803 65 0.017009

3.4.3 ACTUARIAL VALUATION OF PRMB AS AT 31.03.2023 CERTIFICATES AS PER IND AS 19 (2015)

TABLE 1
Disclosure of Defined Benefit Cost for the Year ending 31st March 2023
(₹ in Crore)
One Year ending One Year ending
A Profit & Loss (P&L)
31st March 2022 31st March 2023
1 Current Service Cost 13.49 14.41
2 Past Service Cot-Plan amendments 278.93 —
3 Curtailment Cost/(Credit) — —
4 Settlement Cost/(Credit) — —
5 Service Cost 292.42 14.41
6 Net interest on net defined benefit liability/ (asset) 19.06 15.94
7 Immediate recognition of (gains)/losses-other long term employee — —
benefit plans
8 Cost recognized in P&L 311.48 30.35
One Year ending One Year ending
B Other Comprehensive Income (OCI)
31st March 2022 31st March 2023
1 Actuarial (gain)/loss due to DBO experience (50.08) (0.13)
2 Actuarial (gain)/loss due to DBO assumption changes 32.57 (36.91)
3 Actuarial (gain)/loss arising during period (17.51) (37.04)
4 Return on plan assets (greater)/less than discount rate (17.59) (1.58)
5 Actuarial (gain)/loss recognized in OCI (35.11) (38.62)

371
C Defined Benefit Cost One Year ending One Year ending
31st March 2022 31st March 2023
1 Service cost 292.42 14.42
2 Net interest on net defined benefit liability /(asset) 19.06 15.94
3 Actuarial (gains)/loss recognized in OCI (35.11) (38.62)
4 Immediate recognition of (gains)/losses-other long term employee — —
benefit plans
5 Defined Benefit Cost 276.38 (8.26)
D Assumption as at One Year ending One Year ending
31st March 2022 31st March 2023
1 Discount Rate 6.85% 6.80%
2 Medical inflation rate Not available 0.00%

TABLE 2
Development of Net Balance Sheet position
(₹ in Crore)
One Year ending One Year ending
A Profit & Loss (P&L)
31st March 2022 31st March 2023
1 Defined Benefit Obligation (DBO) (597.57) (597.42)
2 Fair value of plan assets (FVA) 358.13 376.27
3 Funded status [surplus/(deficit)] (239.44) (221.15)
4 Effect of Asset ceiling — —
5 Net defined benefit asset/(liability) (239.44) (221.15)
One Year ending One Year ending
B Reconciliation of Net Balance Sheet Position
31st March 2022 31st March 2023
1 Net defined benefit asset/(liability) at end of prior period (175.09) (239.44)
2 Service cost (292.42) (14.41)
3 Net interest on net defined benefit liability/(asset) (19.06) (15.94)
4 Amount recognized in OCI 35.11 38.61
5 Employer contributions 212.02 10.02
6 Benefit paid directly by the Company — —
7 Acquisitions credit/(cost) — —
8 Divestitures — —
9 Cost of termination benefits — —
10 Net defined benefit asset/(liability) at end of current period (239.44) (221.15)
C Assumptions as at One Year ending One Year ending
31st March 2022 31st March 2023
1 Discount Rate 6.80% 7.30%
2 Medical inflation Rate Executive 9%
Non-Executive 6.25% 0.00%

372
 TABLE 3

Changes in Benefit Obligations and Assets over the year ending 31st March 2023
(₹ in Crore)
One Year ending One Year ending
A Change in defined Benefit Obligation (DBO)
31st March 2022 31st March 2023
1 DBO at end of prior period 298.65 597.57
2 Current service cost 13.49 14.41
3 Interest cost on the DBO 34.43 40.04
4 Curtailment (credit)/cost — —
5 Settlement (credit)/cost — —
6 Past service cast-plan amendments 278.93 —
7 Acquistions (credit)/cost — —
8 Actuarial (gain)/loss- experience (50.08) (0.13)
9 Actuarial (gain)/loss- demographic assumptions 28.85 —
10 Actuarial (gain)/loss- financial assumptions 3.72 (36.91)
11 Benefits paid directly by the Company — —
12 Benefits paid from plan assets (10.42) (17.56)
13 DBO at end of current period 597.57 597.42
B Change in fair Value of Assets
1 Fair value of assets at end of prior period 123.56 358.13
2 Acquistion adjustment — —
3 Interest income on plan assets 15.37 24.10
4 Employer contributions 212.02 10.02
5 Return on plan assets greater/(lesser) than discount rate 17.59 1.58
6 Benefits paid (10.42) (17.56)
7 Fair Value of assets at the end of current period 358.13 376.27

TABLE 4

Additional Disclosure Information

A Expected benefit payments for the year ending

1 March 31, 2024 29.28
2 March 31, 2025 31.91
3 March 31, 2026 34.61
4 March 31, 2027 37.39
5 March 31, 2028 40.17
6 March 31, 2029 to March 31, 2033 235.98
7 Beyond 10 years 1337.36
B Weighted average duration of defined benefit obligation 12 years
C Accrued Benefit Obligation at 31 March 2023 597.42

373
 TABLE 5

Sensitivity Analysis

DBO on base assumptions as at 31 March 2023 597.42

These assumptions are summarized in Appendix C of the report

A Discount Rate as at 31 March 2023 7.30%
1 Effect on DBO due to 0.5% increase in Discount rate (33.47)
Percentage Impact -6.00%
2 Effect on DBO due to 0.5% decrease in Discount rate 36.91
Percentage Impact 6.00%

Below is a summary of the active members of the plan:

Executives 31st March 2022 31st March 2023

1 Number of Employees (actives) 2,257 2244
2 Number of Employees (Inactives) 2,251 2474
3 Average attained age (years)- Actives 42.39 41.85
4 Average attained age (years)- Inactives 69.00 68.76
5 Average past service (years)- Actives 15.57 14.62
Non-Executives 31 March 2022
st
31 March 2023
st

1 Number of Employees (actives) 33,403 32482

2 Number of Employees (Inactives) 5147 5899
3 Average attained age (years)- Actives 45.34 45.52
4 Average attained age (years)- Inactives 68.00 66.64
5 Average past service (years)- Actives 20.74 20.85

Assumption
Assumptions 31st March 2022 31st March 2023
Discount Rate 6.80% 7.30%
Medical Inflation Rate Not Available 0.00%
Mortality Rate -In service Indian Assured Lives Mortality (2006-08) Indian Assured Lives Mortality (2006-08)
Ultimate Ultimate
Mortality Rate -Post retirement Indian Individual Annuitant’s Mortality Indian Individual Annuitant’s Mortality
Table (2012-15) Table (2012-15)
Average Medical Cost (INR) Executive Employees: Domiciliary Benefit- Executive Employees: Domiciliary Benefit-
INR 36,000 p.a. INR 36,000 p.a.
Hospitalisation Benefit- INR 35,000 p.a. Hospitalisation Benefit- INR 35,000 p.a.
Non-Executive Employees: Domiciliary Non-Executive Employees: Domiciliary
Benefit+ Hospitalisation Benefit Benefit+ Hospitalisation Benefit
combined- INR 18,000 p.a. combined- INR 18,000 p.a.
Spouse Age Difference Spouse is 5 years younger than Member Spouse is 5 years younger than Member
Withdrawal Rate 0.30% 0.30%

374
Specimen Mortality Rates: Indian Assured Lives Mortality (2006-08) Ultimate Table

Age Rates Age Rates

20 0.000888 45 0.002874
25 0.000984 50 0.004946
30 0.001056 55 0.007888
35 0.001282 60 0.011534
40 0.001803 65 0.017009
Specimen Mortality rates: Indian Individual Annuitant’s Mortality Table (2012-15)

Age Rates
60 0.006349
65 0.010070
70 0.016393
75 0.027379
80 0.046730

4. Unrecognized items
(a) Contingent Liabilities
I. Claims against the company not acknowledged as debt
(₹ in Crore)
Central State Government Central
Sl. Particulars Government Dept./ Agencies and Public Others Total
No. Dept./ other local authorities Sector
Agencies Enterprises
1 Opening as on 01.04.2022 2,149.79 17,976.32 — 542.07 20,668.18

2 Addition during the year 73.03 318.32 — 0.34 391.69

Claims settled during the year

a. From opening balance 2.46 14,112.85 — 4.81 14,120.12

3 b. Out of addition during the period — 0.27 — — 0.27

c. Total claims settled during the year 2.46 14,113.12 — 4.81 14,120.39
(a+b)
4 Closing as on 31.03.2023 2,220.36 4,181.52 — 537.60 6,939.48

Demand for alleged, Production of coal beyond Environmental Clearance Limit:

Considering the judgment of the Hon’ble Supreme Court of India in the case of Common Cause vs. UOI and Others (W.P.
(C) No. 114 of 2014), District Mining Officers of Jharkhand, have issued demand notices in respect of 42 projects, alleging
that production in those projects exceeded the available Environmental Clearances limits and demanded compensation
for the said violation. The total demand raised as on dated in the said matter is ₹ 13,568.50 Crore (P.Y. ₹ 13568.50 Crore).
The Company has filed revision petition against the above demands, before the Hon’ble Coal Tribunal, Ministry of Coal,
Govt. of India, the adjudicating authority under the MMDR (i.e. Mines and Minerals Development Regulations) Act, 1957.
The Revisional Authority, Ministry of Coal, Govt. of India vide their interim order dated 16.01.2018 has admitted the
revision application and stayed the execution of the demand orders till further order.

375
A similar demand notice has also been issued by District Mining Officer (DMO), Bokaro, Jharkhand in the matter of
Damodar Valley Corporation (DVC) considering the above case matter for the alleged violations. However, the Revisional
Authority, Ministry of coal, Govt. of India vide its order dated 21/12/2021 has set aside the compensation demand order
passed by DMO. The Revisional authority has noticed that there is no proper factual examination after following due
process, proper compensation determination methodology and opportunity to be heard. The said Authority further
observed that it would be appropriate to form a committee of expert to examine factual position, legal issues and to give
proper opportunity of hearing before arriving at any decision in the said matter.
Considering the above developments in the said case matter, the Company evaluated that the demand notices of
compensation issued by DMO against the Company is also not tenable.
Further, the possibility of an outflow of resources in the settlement is remote and accordingly, the same has not been
considered as contingent liability for the purpose of reporting.

Nature wise details of contingent liability is shown below:

(₹ in Crore)
Sl.No. Particulars 31.03.2022 31.03.2023
Central Government :
Income tax 1,050.80 1,113.92
Central Excise 153.83 154.28
Clean Energy Cess 941.66 941.66

1
Service Tax 3.51 10.50
Others — —
Sub - Total 2,149.79 2,220.36
State Government and Local Authorities:
Royalty 2,365.64 2,363.24
Environment Clearance/ Holding tax 13,568.50 —
Sales Tax / VAT 1,452.84 1,282.91
Entry Tax 25.00 25.00
2 Electricity Duty 88.96 58.54
MADA 475.37 420.73
Others (Environment Compensation) — 31.10
Sub - Total 17,976.32 4,181.52
Central Public sector Enterprises
Arbitration Proceedings — —
Suit against the company under litigation — —
3 Others — —
Sub- Total — —
Others :
Miscellanous 542.07 537.60
4 Sub- Total 542.07 537.60
TOTAL 20,668.18 6,939.48

376
II. Guarantee
Bank guarantee issued as on 31.03.2023: ₹ 476.36 Crore (P.Y ₹ 433.11 Crore).
III. Letter of Credit
Outstanding Letters of Credit as on 31.03.2023: ₹ NIL (P.Y ₹ NIL).
IV. Commitments
Capital Commitment for estimated amount of contracts remaining to be executed and not provided for as on
31.03.2023: ₹ 5667.65 Crore (P.Y ₹ 3881.83 Crore).
Other Commitment as on 31.03.2023: ₹ 4,737.89 Crore (P.Y ₹ 9,783.74 Crore).

5. Group Information
% Equity Interest
Name Principal activities Country of
31st March, 31st March,
Incorporation
2023 2022
Coal India Limited (Holding Company) Mining & Production of Coal India 100% 100%
Jharkhand Central Railway Ltd.(Subsidiary Development of Railway India 64% 73.67%
Company) Infrastructure in Jharkhand

6. Other Information
Additional Information, as required under Schedule III to the Companies Act, 2013, of enterprises consolidated as
Subsidiary / Associates / Joint Ventures.
Net Assets i.e. Total Assets Share in profit or loss Share in Other
minus Total Liabilities Comprehensive Income

As % of As % of
Name of Enterprises
As % of Amount (₹ In consolidated Amount consolidated Amount
consolidated Crore) Profit or Loss (₹ In Crore) Other (₹ In Crore)
net assets Comprehensive
Income

Central Coalfields Limited 96.59 9,971.96 99.87 2,751.67 100.00 177.59

Jharkhand Central Railway 5.28 545.05 0.20 5.41 — —

Limited

Less:- Minority Interests in 1.87 192.87 0.07 1.94 — —

all subsidiaries

Total 100.00 10,324.14 100.00 2,755.14 100.00 177.59

377
(a) Provisions
The position and movement of various provisions as per Ind AS-37 except those relating to employee benefitswhich
are valued actuarially, as on 31.03.2023 are given below:

(₹ in Crore)
Opening Addition during Write back/Adj/ Unwinding Closing
Provisions Balance as on the year Paid during the of Balance as on
01.04.2022 year Discount 31.03.2023

Note 3:- Property, Plant and

Equipments :
Impairment of Assets : 62.26 3.93 (0.99) — 65.50

Note 4:- Capital Work in Progress :

Against CWIP : (Impairment) 18.28 3.92 (6.75) — 15.45

Note 5:- Exploration And Evaluation

Assets :
Provision and Impairment : 0.46 1.55 — — 2.01

Note 8:- Loans :

Other Loans : —- — — — —

Note 9:- Other Financial Assets: —

— — — —
Other Deposits and Receivables
— — — — —
Security Deposit for utilities Current
Account with Subsidiaries Claims & — — — — —
other receivables 14.37 — — — 14.37

Note 10 :-Other Non-Current Assets

Capital Advance 0.08 — (0.08) — 0.00

Note 11:- Other Current Assets

Advance payment of statutory dues 0.89 — (0.89) — —
Other Advances and Deposits 21.24 — (1.79) — 19.45

Note13:-Trade Receivables :
Provision for bad & doubtful debts: 288.26 92.13 — — 380.39

Note 21 :- Non-Current &

Current Provision :
Ex- Gratia 250.70 258.44 (250.70) — 258.44
Performance Related Pay 178.07 155.55 (65.33) — 268.29
Provision for National Coal Wage 123.30 1221.28 — — 1344.58
Agreement XI
Provision for Executive Pay — — — — —
Revision Others
Site Restoration/Mine Closure 982.09 — (128.38) 75.44 929.15

378
(b) Segment Reporting
The group is primarily engaged in a single segment business of production and sale of Coal. The income from
interest and other income is less than 10% of the total revenue; hence no separate segment is recognized for the
same.
(c) Earnings per share

For the For the

Sl.
Particulars year ended year ended
No.
31.03.2023 31.03.2022
(i) Net profit after tax attributable to Equity Share Holders 2,755.14 1,698.41

(ii) Weighted Average no. of Equity Shares Outstanding 94 Lakhs 94 Lakhs

(iii) Basic and Diluted Earnings per Share in Rupees (Face value ₹1000/-per share) 2,931.00 1,806.82

(d) Related Party Disclosures

Post-Employment Benefit Fund:
i. Group Gratuity Cash Accumulation Plan with LICI.
ii. New Group Gratuity Cash Accumulation Plan with LICI (for employees joining after 01.04.2014).
iii. New Group Leave Encashment Scheme with LICI.
iv. Coal Mines Provident Fund (CMPF).
v. Contributory Post-Retirement Medical Scheme for Executive Trust
vi. CIL Executive Defined Contribution Pension Scheme-2007

List of Related Parties of the Group

(i) Holding Company

Coal India Limited (CIL)
(ii) Sister Companies
1. Eastern Coalfields Limited (ECL)
2. Bharat Coking Coal Limited (BCCL)
3. Western Coalfields Limited (WCL)
4. South Eastern Coalfields Limited (SECL)
5. Northern Coalfields Limited (NCL)
6. Mahanadi Coalfields Limited (MCL)
7. Central Mine Planning and Design Institute Limited (CMPDIL)

(iii) Related Parties of the Subsidiary Company (JRCL)

1. IRCON International Limited
2. Government of Jharkhand

379
Transaction with Related Parties
(₹ in Crore)

Loan to Loan Lease Interest Current Outstanding

Name of Related Parties Related from Apex Rehabilitation Rent on Funds IICM Other / Account Balances
Parties Related Charges Charges Income parked charges Investment Balances (payable)
Parties (payable) receivable
receivable

Coal India Limited (CIL) — — 179.57 45.02 — — — 342.77 (12.47) —

Central Mine Planning — — — — — — — 227.60 — (146.43)

and DesignInstitute
Limited (CMPDIL)

IICM Charges — — — — — — 7.62 — — (1.24)

Key Managerial Personnel

(A) Central Coalfields Limited
SI. Name Designation W.e.f
1 Shri Mallikharjuna Prasad Polavarapu Chairman-cum-Managing Director 01.09.2020

2 Shri Ram Baboo Prasad Director (Technical/Operations) 14.05.2022

3 Shri S.K. Gomasta Director (Technical/P&P) 01.11.2021

to
25.10.2022
4 Shri B. Sairam Director (Technical/P&P) 26.10.2022

5 Shri K.R. Vasudevan Director (Finance) 01.07.2021

to
09.06.2022
6 Shri Pawan Kumar Mishra Director (Finance) 10.06.2022

7 Shri Harsh Nath Mishra Director (Personnel) 24.08.2022

8 Ms. Santosh, Dy. Director General, MoC Government Nominee Director 03.01.2022
to
21.02.2023
9 Shri Ajitesh Kumar Government Nominee Director 22.02.2023

10 Shri Vinay Ranjan Government Nominee Director 05.08.2021

11 Shri Ramesh Kumar Soni Independent Director 01.11.2021

12 Shri Ravi Prakash Company Secretary 13.07.2017

to
30.08.2022
13 Shri Amaresh Pradhan Company Secretary 31.08.2022

380
(B) Jharkhand Central Railway Limited (Subsidiary of Central Coalfields Limited)
NAME OF DIRECTOR/ KMP DESIGNATION DATE OF APOINTMENT

B. Sairam Chairman, JCRL 23.11.2022

S.K. Gomasta (Resigned) Chairman, JCRL 19.01.2022 to 23.11.2022

Ashok Kumar Goyal (Resigned) Director 01.10.2021 to 11.10.2022

Pranav Kumar (Resigned) Director 12.10.2021 to 01.06.2022

Ramesh Jha (Resigned) Director 01.01.2022 to 19.12.2022

Ravi Shankar Vidyarthi (Resigned) Director 02.03.2020 to 13.03.2023

Abhijit Narendra (Resigned) Director 20.01.2020 to 09.05.2022

Shashank Shekhar Jha Director 15.06.2018

Pawan Kumar Mishra Director 19.12.2022

Priya Ranjan Parhi Director 09.05.2022

Pradeep Kumar Director 13.03.2023

Parag Verma Director 11.10.2022

Ragini Adwani Director 01.06.2022

R.K. Mishra CEO 29.01.2022

Pradeep Kumar Singh CFO 29.01.2022

Shreya Company Secretary 29.04.2022

Remuneration of Key Managerial Personnel

(A) Central Coalfields Limited
(₹ in Crore)

Sl. Payment to CMD, Whole Time Directors and For the year ended For the year ended
No. Company Secretary 31.03.2023 31.03.2022
i) Short Term Employee Benefits
Gross Salary 2.63 1.49
Medical Benefits — —
Perquisites and other benefits — —
ii) Post-Employment Benefits
Contribution to P.F. & other fund 0.17 0.12
Actuarial valuation of Gratuity Actuarial valuation 0.53 0.12
Leave Encashment 1.34 0.48
Contribution to NPS 0.09 0.07
iii) Termination / Retirement Benefits 0.00 0.79
TOTAL 4.76 3.07

381
(B) Jharkhand Central Railway Limited ( Subsidiary of Central Coalfields Limited )
KMP PARTICULARS For the year ended For the year ended
31.03.2023 31.03.2022
Company Secretary Gross Salary 0.05 —
Contribution of EPF — —
Chief Executive Officer Gross Salary 0.14 0.02
Contribution of EPF — —
TOTAL 0.19 0.02
Note:
Besides above, whole time Directors have been allowed to use company cars for private journey upto a ceiling of 1000
KMs on payment of ₹2000 per month as per service conditions.

Payment to Independent Directors

(₹ in Crore)

Sl. Payment to Independent Directors For the year ended 31.03.2023 For the year ended 31.03.2022
No.
i) Sitting Fees 0.09 0.21

Balances Outstanding with Key Managerial Personnel as on 31.03.2023

(₹ in Crore)

Sl. Particulars As on 31.03.2023 As on 31.03.2022

No.

i) Amount Payable — —

ii) Amount Receivable — —

e) Recent Accounting Pronouncements

Ministry of Corporate Affairs (“MCA”) notifies new standards or amendments to the existing standards under
Companies (Indian Accounting Standards) Rules as issued from time to time. On March 23, 2023, MCA amended
the Companies (Indian Accounting Standards) Amendment Rules, 2023. The effective date for adoption of this
amendment is annual periods beginning on or after April 1, 2023. The amendments are as below:
 Ind AS 1 – Presentation of Financial Statements – This amendment required the entities to disclose their
material accounting policies rather than their significant accounting policies. The Group does not expect this
amendment to have any significant impact in its financial statements.
 Ind AS 8 – Accounting Policies, Changes in Accounting Estimates and Errors – This amendment has introduced a
definition of ‘accounting estimates’ and included amendments to Ind AS 8 to help entities distinguish changes
in accounting policies from changes in accounting estimates. The Group has evaluated the amendment and
there is no impact on its consolidated financial statements.
 Ind AS 12 – Income Taxes – This amendment has narrowed the scope of the initial recognition exemption so
that it does not apply to transactions that give rise to equal and off setting temporary differences. The Group
does not expect this amendment to have any significant impact in its financial statements.

382
f) Goods procured by Coal India Ltd. on behalf of Subsidiaries
As per existing practice, goods purchased by Coal India Ltd. on behalf of subsidiary companies are accounted for
in the books of respective subsidiaries directly.

g) Insurance and escalation claims

Insurance and escalation claims are accounted for on the basis of admission/final settlement.

h) Provisions made in the Accounts

Provisions made in the accounts against slow moving/non-moving/obsolete stores, claims receivable, advances,
doubtful debts etc. are considered adequate to cover possible losses.
i) Current Assets, Loans and Advances etc.
In the opinion of the Management, assets other than fixed assets and non-current investments have a value on
realisation in the ordinary course of business at least equal to the amount at which they are stated.
j) Current Liabilities
Estimated liability has been provided where actual liability could not be measured.
k) Balance Confirmations
Balance confirmation/reconciliation is carried out for cash & bank balances, certain loans & advances, long term
liabilities and current liabilities. Provision is taken against all doubtful unconfirmed balances.
l) Significant accounting policy
Significant accounting policy (Note-2) has been prepared to elucidate the accounting policies adopted by the
group in accordance with Indian Accounting Standards (Ind ASs) notified by Ministry of Corporate Affairs (MCA)
under the Companies (Indian Accounting Standards) Rules, 2015.
m) Leases
i) Punjab State Electricity Board, in terms of lease agreement, has been granted a right to use 15.50 acres of
land of the company. The cost of gross carrying amount of the asset is ₹ 7.90 Crores (PY ₹ 7.90 Crore) and
progressive depreciation there on is ₹ 7.90 Crores (PY ₹ 7.90 Crore) and WDV is Nil (PY ₹ Nil). The future
minimum lease payment receivable in aggregate for balance period of lease is ₹ 2.58 Crores. The details of
future lease payments receivable are as under:

383
 (₹ in Crore)

Particulars As at 31.03.2023 As at 31.03.2022

(I) Not later than one year 0.21 0.19
(II) Later than one year and not later than fiveyears 0.86 0.77

(III) Later than five years and till the period oflease 1.51 1.83

Total 2.58 2.79

ii) EIPL, in terms of lease agreement, has been granted a right to occupy and use the Land of the company. The cost
of gross carrying amount of the asset is ₹ 4,968 (PY ₹ 4,968) and progressive depreciation there on is ₹ 4,968 (PY
₹ 4,968) and WDV is Nil (PY ₹ Nil). The future minimum lease payment receivable in aggregate for balance
period of lease is ₹ 0.90 Lakhs. The matter is pending before the Ld. Arbitrator.
n) Segment Reporting
In accordance with the provisions of Ind AS 108 ‘operating segment’, the operating segment used for presenting
segment information are identified based on internal report used by Board to allocate resources to the segment
and assess their performance. The Board is the group of Chief operating decision maker within the meaning of Ind
AS 108.
The Board considers a business from the prospect of significant product offering and accordingly has decided that
presently there is one single reportable segment being sale of Coal. Information of financial performance and assets are
presented as the consolidated information in the statement of profit and loss and balance sheet.
Revenue by destination is as follows:
(₹ in Crore)

Particulars India Other countries

Revenue (Net) 15,226.21 NIL

Revenue by customer is as follows:

(₹ in Crore)
Customers having more than 10% of Revenue (Net) Amount Country
Customer - 1 2,236.34

Customer - 2 1,511.43 India

Others 11,678.44

Total Revenue (Net) 15,226.21

Current Assets by location are as follows:

(₹ in Crore)

Particulars India Other countries

Current Assets 12,042.35 NIL

384
o) Disaggregated Revenue information
(₹ in Crore)

Particulars For the year ended 31.03.2023 For the year ended 31.03.2022

Types of Goods or Service

12,352.13
- Coal 15,226.21
—
- Others —

Total Revenue from Contract with 15,226.21 12,352.13

Customers
Types of Customers
9,658.51 8,444.78
- Power Sector
3,907.35
- Non-Power Sector 5,567.70 —
—
- Others or Services (CMPDIL)
Total Revenue from Contract with 15,226.21 12,352.13
Customers
Types of Contracts
11,522.80 10,053.58
- FSA
2,298.55
- E-Auction 3,703.41 —
—
- Others
Total Revenue from Contract with 15,226.21 12,352.13
Customers
Timing of Goods or Services 15,226.21
12,352.13
- Goods transferred at a point of
—
time —
- Goods transferred over time —
—
- Services transferred at a point of
— —
time
- Services transferred over time
Total Revenue from Contract with 15,226.21 12,352.13
Customers

385
p) Ratios

For the year ended For the year ended

Ratios
31.03.2023 31.03.2022
Current Ratio 1.31 1.37
Inventory Turnover Ratio 11.49 9.36
Receivable Turnover Ratio 5.32 5.51
Trade Payable Turnover Ratio 2.19 1.87
Net Capital Turnover Ratio 1.63 1.56
Net Profit Ratio(%) 18.11 13.75
Return on Capital Employed 0.22 0.15
Return on Equity (ROE) 0.29 0.22
Return on Investment (ROI)
(d) ROI on Equity Investment in Unlisted Subsidiaries — —
(e) ROI on Mutual fund
(f ) ROI on deposits (with Banks, Fis incl ICDs) 0.07 0.28
0.06 0.04

Current Ratio: The Current ratio is a liquidity ratio the measures the current resources to meet its short- term obligations.
Current ratio has been calculated as Current Assets divided by current liabilities.
Inventory Turnover Ratio: Inventory turnover is a financial ratio showing how many times inventory has been sold
during a given period. Inventory Turnover is calculated by Divided Cost of Goods Sold/ Average value of Inventory.
Where, Cost of Goods Sold = (Total Expenditure – Finance cost – Write off- provision –Corporate Social Responsibility
Expenses- Stripping Activity Adjustment).
Receivables Turnover Ratio: The receivables turnover ratio is an accounting measure used to quantify a company’s
effectiveness in collecting its accounts receivable, or the money owed by customer. Account receivables Turnover =
Gross Credit Sales/ Average trade recivables.
Trade Payable Turnover Ratio: Trade payable turnover shows how many times a company pays off its accounts payable
during a period. Trade Payables turnover Ratio = Total Purchases/ average Trade payables).
Net Capital Turnover: Net Capital turnover is the measure that indicate organization’s efficiency in relation to the
utilization of capital employed in the business and it has been calculated as a ratio of total annual turnover divided by
the total amount of stockholder’s equity (Share Capital+ other equity).
Net Profit Ratio: Net profit as a percentage of Net Sales.
Return on Capital Employed: Earnings before interest and text (EBIT) / Capital employed, where capital employed is
total of Assets- current liabilities.
Return on equity Ratio: Return on equity (ROE) is a measure of financial performance calculated by dividing net income
by Average Shareholder’s equity. Where Net income is Profit after tax for the period, average Shareholder’s equity =
(Opening Equity + Closing Equity)/2.
Return on Investment: Return on Investment (ROI) is a financial ratio used to calculate the benefit received by the
company in relation to its investment cost. The higher the ratio, the greater the benefit earned.
I. ROI on Equity Investment in Unlisted Subsidiaries: Dividend / Average Investment in Equity of Subs.
II. ROI on Mutual fund = Dividend + Capital gain + Fair value gain (Loss) / Average Investment.
III. ROI on deposit (with Bank, FDs incl ICDs) = Interest income / Average Investment.

386
7. GENERAL
7.1 Refund/Adjustment of tax from Tax Authorities are accounted for on cash basis. Additional demand for Income
Tax, Royalty, Cess, Sales Tax, Vat /Entry Tax etc. are accounted for after receipt of final order except as otherwise not
recognized under IND AS-37.
7.2 (a) There is a long pending dispute over increased capitalization cost of Rajrappa and Giddi Captive Power Plant,
commissioned by EIPL ( Eastern India Powertech Limited formerly known as DLF Power Limited ) on Built Own
and Operate (BOO) basis and the dispute is pending in Civil Appeal No. 7403 of 2009, filed by the Company
before the Hon’ble Supreme Court against the Order dated 31.07.2009 of the Jharkhand State Electricity
Regulatory Commission subsequently confirmed by the Appellate Tribunal also.
(b) Pursuant to Interim Orders of the Hon’ble Supreme Court dated 14.09.12 and 23.11.12 passed in the said
Appeal, the Company accounted for a liability of ₹ 94.33 Crores for the period ending till 31/03/2008 in FY
2012-13 and an amount of ₹ 83.03 Crores was paid to EIPL after carrying out eligible deduction. Further, an
ad-hoc payment of ₹ 75 Crores and ₹ 25 Crores were also made on 20.11.13 and 10.01.14 respectively as per
directives of the Hon’ble Supreme Court. Further, as directed by the Hon’ble Supreme Court revised amount
payable from April’2008 to March’2014 was calculated based on the methodology adopted by JSERC in
determining the revised tariff up to the period ending March’2008. Accordingly, an amount of ₹ 23.25 Crores
was provided during the financial year 2013-14 in addition to ₹ 94.33 Crores as stated above. Further, the
additional liability provided for FY 2014-15 and FY 2015-16 is ₹ 3.26 Crores and ₹ 0.26 Crores respectively.
The details of balance receivable amount from EIPL further summarized are as under:
(₹ in Crore)
(i) Differential Tariff for the period upto March 2008 in respect of which liability has been 94.33
provided in the Financial Statementsof 2012-13.
(ii) Differential Tariff for the period April 2008 to March 2014 in respect of which liability has 23.25
been provided in the year 2013-14.
(iii) Old keep back amount in respect of deemed energy charges 31.36
(iv) Differential tariff for the year 2014-15 3.26
(v) Differential tariff for the year 2015-16 (Rajrappa Area) 0.26
Total 152.46
(vi) Less : Ad-hoc payment (as per Order of the Hon’ble Supreme Court) 183.03
(vii) Net Balance amount (shown in Note-9 under the head Claims & Other Receivables) 30.57

However, EIPL has submitted a total demand for ₹ 302.63 Crores on 17.09.2012 including ₹134.20 Crores on account
of interest on delayed payment which is beyond the purview of PPA as the delayed payment was never agreed in
the said PPA. The total demand of EIPL excluding delayed payment is ₹ 168.43 crore, whereas, the Company has
already released an adhoc payment of ₹ 183.03 crore as stated above. The matter is still pending before the Hon’ble
Supreme Court.

(c) As per clause 1.18.3 of the Power Purchase Agreement with M/s. EIPL, from the date of expiry of one year from
commissioning of the respective power plant, increase/decrease of fuel components of tariff due to variation
in fuel cost shall be determined. The initial price of rejects as per clause 1.14 of PPA was ₹ 90 per tonne.

387
 Accordingly, calculation was made as per clause 1.18.3 of PPA and additional revenue receivable on account of
revision in price of rejects net off with additional tariff payable on account of revised tariff due to increase in fuel
cost was considered in the Financial Statements for the year 2013-14 and supplementary bill to EIPL was also
raised.

Subsequently, in FY 2014-15, the price of rejects was again revised based on the recommendations of the CCL
standing committee of Sales and Marketing department and the same was communicated to Director(Operation)
of DLF Ltd. vide letter Ref. No. GM(E&M)/DLF/14/ 3530-36 dated. 17.11.2014. As per letter, G grade slack coal price
which was the lowest grade under UHV system of pricing applicable prior to 01.01.2012 became chargeable for
the period from July, 2000 to December, 2011 from EIPL. Consequent upon the issue of above letter, Sales bill and
power tariff both were revised.

As on 31.03.2016, the amount receivable from EIPL on account of supply of rejects after adjusting enhanced tariff
was ₹ 38.69 Crores. Further a provision of ₹ 1.64 Cr. Was also made in the FY 2016-17 and accordingly, the total
amount recoverable is ₹ 40.33 Crore.

As per clause 2.6 of the Power Purchase Agreement dated. 8th February, 1993, in the event of any dispute arising
out of or in relation to the agreement, the same shall be referred to the sole arbitration of an arbitrator mutually
acceptable to CIL & EIPL as per provisions of Arbitration Act. However, as the parties to the agreement failed to
mutually agree to the appointment of an arbitrator, the petitioner (CCL) was left with no alternative but to move to
the Hon’ble High Court for appointment of an arbitrator in exercising powers under section 11(6) of the Arbitration
and Conciliation Act, 1996. As such the Arbitration Application was filed on 7th April, 2016. The Hon’ble High Court
of Jharkhand during 2017-18, has appointed Ld. Arbitrator as per Agreement to settle the dispute. Hearing is still
pending before Ld. Arbitrator in the said matter.

7.3 Theft of goods during the year is ₹ 0.25 Crores (Previous year ₹ 0.25 Crores).

7.4 Inventory of Stores & Spares are being physically verified by Store Auditors at due intervals. The verification has
been complete for March-2022.

7.5 A) Consequent upon the agreement made with Coal India Limited and President of India for allocation of coal
block Kotre Basantpur and Panchmo Coal Blocks under Coal Mines (Special Provisions) Act, 2015, and subsequent
allocation to CCL for operation and commercial use of mines, the company (CCL) has deposited 75% of Upfront
fees amounting to ₹ 30.97 Crores and fixed amount for ₹ 9.91 Crores as security deposit and has furnished a
Performance Bank Guarantee (Performance Security) amounting to ₹ 286.14 Crores, in designated bank account
of Nominated Authority for allotment. ₹ 40.88 Crores (upfront fees ₹ 30.97 Crores and Security deposit ₹ 9.91
Crores) is appearing under Exploration Evaluation Assets in Note-5. As the conditions of prescribed guidelines for
making payment of 3rd instalment have not yet been fulfilled, the balance amount of ₹ 10.33 Crores is shown
under Capital Commitment.

388
B) Other Bank Guarantees:

Sl. Amount
In favour of Project & Area
No. (₹ in Crore)
(i) Member Secrectary, Jharkhand State Pollution Control Board in Selected Dhori 140.9
compliance with the notification Dated 14.03.2017 of Ministry of GoM, Dhori
Environment & Forest Area
(ii) Member Secrectary, Jharkhand State Pollution Control Board in Karo OCP, B&K 4.87
compliance with the notification Dated 14.03.2017 of Ministry of Area
Environment & Forest
(iii) Assistance Electrical Engineer, Electrical Supply Sub Station Chatra Amarpali OCP, 0.54
JBVNL against load sanction order no 1957/ESE(S) Hazaribagh dt A&C Area
22.11.2019 & 1955/ESE(S) Hazribagh dt 22.11.2019 issued by Electrical
Supdt. Engg. Electrical Supply Circle , Hazaribagh
(iv) Assistance Electrical Engineer, Electrical Supply Sub Station Chatra Magadh OCP, 0.27
JBVNL against load sanction order no 2259/ESC Daltonganj dt M&S Area
28.11.2019 issued by Electrical Supdt. Engg. Electrical Supply Circle ,
Daltonganj
(v) Member Secrectary, Jharkhand State Pollution Control Board against Kathara OCP, 20.33
implemantion of the remediation plan and natural and community Kathara Area
resource augmentation plan
7.6 Against the demand of Income Tax Department regarding TCS from Road Sales Customers under section 206 C of
the Income Tax Act, 1961, amounting to ₹ 106.56 Crore, the department has collected ₹ 71.79 Crore by attaching
the bank account of the group and the balance amount of ₹ 34.77 Crore has been deposited by the company. The
group in turn has recovered ₹ 77.53 Crore from the customers as on balance sheet date and the balance ₹ 27.99
Crore is under process of recovery.
Susequently, the case was disposed by CIT(A) and against the said order CCL preferred an appeal before the ITAT
since the order issued by CIT(A) was non-speaking in nature. ITAT in its order dated 23.01.2023 given verdict in
favour of CCL and allowing all grounds raised by the CCL.
7.7 CCL used to supply Washed Medium Coking Coal (WMCC) to M/S SAIL & RINL at the price mutually agreed in MOU
( Memorandum of undertakings ) entered between CCL & SAIL / RINL, duly signed by the representatives of CCL
and SAIL (Steel Authority of India Limited) / RINL (Rashtriya Ispat Nigam Limited , also known as Vizag Steel). The
last such MOU executed was valid for FY 2016-17 i.e. up to 31.03.2017 and the agreed price applicable for FY 2016-
17 was ₹ 5,780/- per tonne. As per CIL’s (Coal India Limited) direction, CCL notified the price of WMCC considering
the doctrine of Import Parity as envisaged by New Coal Distribution Policy (NCDP) of the Government. However,
both SAIL and RINL had raised their concerns in the said matter i.e. unilateral price revision as against agreed
price mechanism. Thereafter, several letters including discussions have been exchanged between these parties
(CCL, SAIL and RINL), but no consensus has been agreed in the said matter. However, a mutually agreed ad-hoc
price @ ₹ 6,500/- per tonne has been implemented w.e.f. 28/07/2018 after several rounds of persuasion in the said
matter and further agreed to implement pricing on import parity price mechanism on the recommendation of an
independent agency. However, no concreate progress in the said matter has been achieved in the said matter till date.
7.8 The Secretary to Government, Revenue, Registration and Land Reforms Department, Government of Jharkhand
vide his Letter No. 5/Sa.Bhu (CCL) Ramgarh- 303/2012-519 (5)/Ra. Dated 07/02/2020 to The Chairman, Coal India
limited has raised a demand of ₹ 26218.15 crores against 36179.30 acres of Government land under the command
area of CCL. The demand comprises of Rent, Cess and Salami as lease bandobasti of land for lease period.
Land is acquired by CCL as per notification issued by Central Government under Section 9(1) of CBA (A&D) Act, 1957
and physical possession is taken under Section 12 of CBA (A&D) Act, 1957 which is free from all encumbrances.

389
 Accordingly, CCL didn’t agree with the demand raised by state government. However, the company as per the
provisions of Section 13(5) in the Coal Bearing Areas (Acquistion and Development) Act, 1957 agrees to pay land
compensation at present rural agricultural circle rate against Govt. Land to the Govt. of Jharkhand. The tentative
liability for land compensation based on present rural agricultural rate comes to ₹ 778.62 Crore for 5,392.75 acres of
Govt land which is subject to verification by district officials and CCL released an adhoc payment of ₹ 1990.77 Crore.
The tentative liability of ₹ 778.62 Crore has been capitalised as Other Land under PPE. (Refer to Note -3 of financial
statements).
7.9 Pending clearance of CTO & CTE in respect of Religara OC, Laiyo – Jharkhand OC OBR accounting has not been
considered as per revised Stripping Ratio, and Since there is no production in Kedla Open Cast Project OBR
accounting has not been done.
The revision of stripping ratio of mines due on 2022-23 has been taken up by the management and the technical
assessment of such revision is under process.
7.10 Surface Transportations Charges for lead range of 0 to 3 km charged by the company has disputed by some of the
plants of NTPC. CCL has moved to AMRCD through Coal India Limited for resolution of dispute. Coal India has raised
the issue before Ministry of Coal vide its letter No. CIL/M&S/22-23/389 dt 10.10.2022 for scheduling of AMRCD
meeting at an early date. As the matter is pending with AMRCD no provision has been considered against disputed
amount of ₹ 1.94 Cr.
7.11 CCL has paid ₹ 600.66 crore as interim dividend for FY 2022-23 (PY 2021-22 ₹ 404.20 crore as interim dividend and
further ₹ 423.00 crore paid as final dividend for FY 2021-22). The Board of Directors proposed / recommended final
dividend for FY 2022-23 of ₹ 423.00 crore, which will be recognized as distribution to owners during FY 2023-24 on
its approval by the Shareholders in Annual General Meeting. The dividend per share amounts to ₹ 639/- towards
interim dividend and ₹ 450/- towards proposed final dividend, total ₹1089/- per share for FY 2022-23 (PY interim
dividend per share amounts to ₹ 430/- and ₹ 450/- per share dividend, total ₹ 880/- per share).

Others
i. Previous year’s figures have been restated, regrouped and rearranged wherever considered necessary.
ii. Previous Year’s figures in Note No. 3 to 38 are in brackets.
iii. Note –1 and 2 represents Corporate information and Significant Accounting Policies respectively, Note 3 to 23
form part of the Balance Sheet as at 31st March, 2023 and 24 to 37 form part of Statement of Profit & Loss for
the period ended on that date. Note – 38 represents Additional Notes to the Financial Statements.

In terms of our Report of even date For and on Behalf of the Board

Sd/- Sd/-
For SPAN & ASSOCIATES. (P. M. Prasad) (Pawan Kumar Mishra)
Chartered Accountants Chairman-cum-Managing Director Director (Finance)
(Firm Registration no. 302192E) DIN 08073913 DIN- 09665365

Sd/-
Sd/- Sd/-
(Amaresh Pradhan)
CA. K. Chakarbarti (Rajendra Singh)
Company Secretary
Partner General Manager(Finance)
Membership no. F-11264
Membership no. 015363
Place : Ranchi
Dated : 27th April, 2023

390
 MANAGEMENT REPLY TO STATUTORY AUDITOR’S REPORT
FY 2022-23 (CONSOLIDATED)
AUDITORS’ REPORT MANAGEMENT’S REPLY

To
The Members
Central Coalfields Limited
Report on the Audit of Consolidated Ind AS financial
statements
Opinion
On the basis of audit queries made by the Comptroller & Auditor
General of India, this revised audit report (Revising Annexure"A"
referred to Paragraph 1 of Report on Other Legal and Regulatory
Requirement Part-I Sl. No-i, Report on additional direction Part -II
Sl. No 02 and Sl. No 03 under 143 (5) of the Companies Act, 2013)
has been prepared in lieu of the earlier report dated 27th April 2023
to comply with observations issued by the Comptroller & Auditor
General of India.
We have audited the accompanying consolidated Ind AS financial
statements of Central Coalfields Limited (hereinafter referred to
as the ‘Holding Company”) and its subsidiary Jharkhand Central
Railway Limited (Holding Company and its subsidiary together
referred to as“the Group”), which comprise the consolidated Balance
Sheet as at March 31, 2023, and the consolidated statement of Profit
and Loss (including other comprehensive income), the consolidated
statement of changes in equity and the consolidated cash flows
Statement for the year then ended, and notes to the consolidated
Ind AS financial statements, including a summary of significant
accounting policies and other explanatory information (hereinafter
referred to as “the consolidated Ind AS financial statements”). In our
opinion and to the best of our information and according to the
explanations given to us and based on consideration of report of the
other auditor, the aforesaid consolidated Ind AS financial statements
give the information required by the Act in the manner so required
and give a true and fair view in conformity with the accounting
principles generally accepted in India, of their consolidated state
of affairs of the Group as at March 31, 2023, of consolidated profit,
consolidated changes in equity and its consolidated cash flows for
the year then ended.

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 AUDITORS’ REPORT MANAGEMENT’S REPLY
Basis for Opinion
We conducted our audit in accordance with the Standards on
Auditing (SAs) specified under section 143(10) of the Companies
Act, 2013. Our responsibilities under those Standards are further
described in the Auditor’s Responsibilities for the Audit of the
Consolidated Ind AS financial statements section of our report. We
are Independent of the Company in accordance with the Code of
Ethics issued by Institute of Chartered Accountants of India together
with the ethical requirements that are relevant to our audit of the
consolidated Ind AS Financial statements under the provisions of
the Comppanies Act, 2013 and the rules thereunder and we have
fulfilled our other ethical responsibilities in accordance with these
requirements and the code of ethics. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide
a basis for our opinion.
Emphasis of Matters
We draw attention to the following matters:
a) Other current assets (Note No 11), other non-current assets Balance confirmation letters have been issued to the
(Note No 10), trade payables (Note No 19), other financial parties in respect of trade receivables, trade payables and
liabilities (Note No 20) and other current liabilities(Note no. advances. The balances with major sundry debtors are
23) are subject to confirmation. reconciled at regular intervals and Joint Reconciliation
Statements are also signed by both the parties.
Our opinion is not modified in respect of this matter.
b) Accumulated amount of Rs 1,455.57 crores under GST
Input Tax credit is a case in reference under inverted duty
structure. As per the Honorable Supreme Court decision
for the refund under Inverted Duty Structure dated
13.09.2021, recoverability/ adjustability of the amount
stands uncertain. Refer Note-11: Other Current Assets
Our opinion is not modified in respect of this matter.
c) Liability Written Back for the Financial Year 2022-23 It has been adequately disclosed in Note-25 to the
amounts to Rs 352.32 crores. Refer NOTE 25: OTHER Financial Statement.
INCOME
Our opinion is not modified in respect of the above matter.
Key Audit Matters
Key audit matters are those matters that, in our No Comments
professional judgment, were of most significance in our
audit of the Consolidated Ind AS financial statements of
the current period. These matters were addressed in the
context of our audit of the Consolidated Ind AS financial
statements as a whole, and in forming our opinion
thereon, and we do not provide a separate opinion on
these matter. We have determined the matters described
below to be the key audit matters to be communicated
in our report.

392
 AUDITORS’ REPORT MANAGEMENT’S REPLY
Sl. Key Audit Matter Auditor’s Response
1. Stripping Activity Expense/ Principal Audit Procedures:
Adjustment
In case of opencast mining, the mine We performed the following
waste materials (“overburden”) substantive procedures:
which consists of soil and rock on a) Obtained working data of
the top of coal seam is required to Stripping Adjustment and
be removed to get access to the coal checked that the total
and its extraction. This waste removal expense incurred during
activity is known as ‘Stripping’. In the year is allocated
opencast mines, the company has between Coal production
to incur such expenses over the life and Overburden.
of the mine (as technicallyestimated). Ensured about accuracy
Therefore, as a policy, in the mines and completeness of
with rated capacity of one million expenses considered in
tons per annum and above, cost of calculation of ratio.
Stripping is charged on technically b) Checked that the ratio
evaluated average stripping ratio variance is calculated
(OB:COAL) at each mine with due on the basis of amount
adjustment forstripping activity asset allocated to overburden
and ratio-variance account after the and OB quantity extracted
mines are brought to revenue. during the year correctly.
Net of balances of stripping activity c) Performed analytical No Comments
asset and ratio varianceat the Balance procedures and test of
Sheet date is shown as Stripping details for reasonableness
Activity Adjustment under the head of expenses considered
Non-Current Provisions / Other Non- in stripping activity
Current Assets as the casemay be. adjustment calculation.
The reported quantity of Checked that the accounting
overburden as per record is policy applied and
considered in calculating the ratio management’s judgments
for OBR accounting where the used for Stripping Activity
variance between reported quantity Adjustment are appropriate.
and measured quantity is within the Audit Conclusion:
permissible limits. However, where Our procedures did not identify
the variance isbeyond the permissible any material exceptions.
limits asabove, the measured quantity
isconsidered.

393
 AUDITORS’ REPORT MANAGEMENT’S REPLY
Refer Note 21 to the Consolidated Principal Audit Procedures: No Comments
Ind AS Financial Statements.
Ind AS 115 “Revenue from We have assessed the
Contracts with Customers” ap plication of the
provisions of Ind AS 115 in
In the standalone Ind AS
respect of the Company’s
financial statements in
revenue recognition and
respect of accuracy of revenue
appropriateness of the
recognition and adjustments
estimated adjustments in
for coal quality variances
the process.
involves critical estimates.
We have selected
The revenue recognized by transactions on sample basis
the Company in a particular and tested for identification
contract is dependent on the of contracts involving
sale agreement / allotment in disputes relating to grade
e-auction for the respective mismatch/ slippage with
customer. Subsequent respect to the terms of the
adjustments are made to the contract, evaluation of the
transaction price due to grade satisfaction of performance
mismatch/slippage of the obligation, checking
transferred coal. the adjustment to the
revenue due to variation in
The variation in the contract price
transaction price
if not settled mutually between
We have performed
the parties to the contract is
tests to establish the
referred to third party testing
basis of estimation of
and the company estimates
the consideration and
the adjustments required for
whether such estimates are
revenue recognition pending
commensurate with the
settlement of such dispute. Such
accounting policy of the
adjustments in revenue are made
Company.
on estimated basis following
historical trend. Refer to Note 24. Audit Conclusion:
to the Conclusion Ind AS Financial Our procedures did not
Statements. identify any material
exceptions.
2 Information Other than the Consolidated Ind AS
Financial Statements & Auditor’s Report Thereon
The Company’s management and Board of Directors are
responsible for the other information. The other information
comprises the information included in the Management
Discussion and Analysis, Board’s Report including Annexure
to Board’s Report, Business Responsibility Report, Corporate
Governance and Shareholder’s Information, but does not
include the Consolidated Ind AS financial statements and
our auditor’s report thereon.
Our opinion on the Consolidated Ind AS financial
statements does not cover the other information and we
do not express any form of assurance conclusion thereon.
In connection with our audit of the Consolidated Ind AS
financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other
information is materially inconsistent with the Consolidated
Ind AS financial statements or our knowledge obtained in
the audit or otherwise appears to be materially misstated.

394
 AUDITORS’ REPORT MANAGEMENT’S REPLY

Responsibilities of Management and Those

Charged with Governance for the Consolidated
Ind AS financial statements
The Holding Company’s Board of Directors is responsible
for the matters stated in section 134(5) of the Companies
Act, 2013 (“the Act”) with respect to the preparation of
these consolidated Ind AS financial statements that give
a true and fair view of the financial position, financial
performance, including other comprehensive income
and cash flows and changes in equity of the Company
in accordance with the accounting principles generally
accepted in India, including the Indian Accounting
Standards (Ind AS) specified under section 133 of the
Act, read with relevant rules issued thereunder. This
responsibility also includes maintenance of adequate
accounting records in accordance with the provisions
of the Act for safeguarding of the assets of the Company
and for preventing and detecting frauds and other
irregularities; selection and application of appropriate
implementation and maintenance of accounting policies;
making judgments and estimates that are
reasonable and prudent; and design, implementation
and maintenance of adequate internal financial
controls, that were operating effectively for ensuring
accuracy & completeness of the accounting records,
relevant to the preparation and presentation of the
consolidated Ind AS financial statements that give a
true and fair view and are free from material

misstatement, whether due to fraud or error, which

have been used for the purpose of preparation of
the consolidated Ind AS financial statements by the
Directors of the Holding Company, as aforesaid.

In preparing the consolidated Ind AS financial

statements, the respective Board of Directors of the
companies included in the Group are responsible for
assessing the ability of the Group to continueas a going
concern, disclosing, as applicable, matters related to
going concern and using the going concern basis
of accounting unless management either intends to
liquidate the Group or to cease operations, or has no
realistic alternative but to do so. The respective Board
of Directors of the companies included in the Group
are responsible for overseeing the financial reporting
process of the Group.

395
 AUDITORS’ REPORT MANAGEMENT’S REPLY
Auditor’s Responsibility for the Audit of the
Consolidated Ind AS Financial Statements
Our objectives are to obtain reasonable assurance
about whether the consolidated Ind AS financial
statements as a whole are free from material
misstatement, whether due to fraud or error, and to
issue an auditor’s report that includes our opinion.
Reasonable assurance is a high level of assurance,
but is not a guarantee that an audit conducted in
accordance with SAs will always detect a material
misstatement when it exists. Misstatements can
arise from fraud or error and are considered material
if, Individually or in the aggregate, they could
reasonably be expected to influence the economic
decisions of users taken on the basis of these
consolidated Ind AS financial statements.
As part of an audit in accordance with SAs, we exercise
professional judgment and maintain professional
skepticism throughout the audit. We also:
• Identify and assess the risks of material
misstatement of Consolidated Ind AS financial
statements, whether due to fraud or error, design
and perform audit procedures responsive to those
risks, and obtain audit evidence that is sufficient
and appropriate to provide a basis for our opinion.
The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting
from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the
override of internal control.

396
 AUDITORS’ REPORT MANAGEMENT’S REPLY
• Obtain an understanding of internal financial
controls relevant to the audit in order to design
audit procedures that are appropriate in the
circumstances. Under section 143(3)(i) of the Act,
we are also responsible for expressing our opinion
on whether the Company has adequate internal
financial controls system in place and the operating
effectiveness of such controls.
• Evaluate the appropriateness of accounting
policies used and the reasonableness of accounting
estimates and related disclosures made by
management.
• Conclude on the appropriateness of management’s
use of the going concern basis of accounting and,
based on the audit evidence obtained, whether
a material uncertainty exists related to events
or conditions that may cast significant doubt
on the Group’s ability to continue as a going
concern. If we conclude that a material uncertainty
exists, we are required to draw attention in our
auditor’s report to the related disclosures in the
Consolidated Ind AS financial statements or, if such
disclosures are inadequate, to modify our opinion.
Our conclusions are based on the audit evidence
obtained up to the date of our auditor’s report.
• Evaluate the overall presentation, structure and
content of the Consolidated Ind AS financial
statements, including the disclosures, and whether
the Consolidated Ind AS financial statements
represent the underlying transactions and events
in a manner that achieves fair presentation.
Materiality is the magnitude of misstatements in
the Consolidated Ind AS financial statements that,
Individually or in aggregate, makes it probable
that the economic decisions of a reasonably
knowledgeable user of the Consolidated Ind AS
financial statements may be influenced. We consider
quantitative materiality and qualitative factors
in (i) planning the scope of our audit work and in
evaluating the results of our work; and (ii) to evaluate
the effect of any identified misstatements in the
Consolidated Ind AS financial statements.
We communicate with those charged with
governance regarding, among other matters, the
planned scope and timing of the audit and significant
audit findings, including any significant deficiencies
in internal control that we identify during our audit.

397
 AUDITORS’ REPORT MANAGEMENT’S REPLY
We also provide those charged with governance with
a statement that we have complied with relevant
ethical requirements regarding Independence, and
communicated with them all relationships and other
matters that may reasonably be thought to bear on
our Independence, and where applicable, related
safeguards.
From the matters communicated with those
charged with governance, we determine those
matters that were of most significance in the audit
of the Consolidated Ind AS financial statements of
the current period and are therefore the key audit
matter. We describe these matters in our auditor’s
report unless law or regulation precludes public
disclosure about the matter or when, in extremely
rare circumstances, we determine that a matter
should not be communicated in our report because
the adverse consequences of doing so would
reasonably be expected to outweigh the public
interestbenefits of such communication.

Other Matter
(a) We did not audit the financial statements / financial No comments.
information of subsidiary company, whose financial
statements / financial information reflect total
assets of ₹ 671.26 Cr. as at 31st March, 2023, total
revenues of ₹ 8.26 Cr. and net cash flows amounting
to ₹ 47.39 Cr. for the year ended on that date, as
considered in the consolidated Ind AS financial
statements These financial statements / financial
information have been audited by other auditors
whose reports (revised) have been furnished to
us by the Management and our opinion on the
consolidated Ind AS financial statements, in so far as
it relates to the amounts and disclosures included in
respect of these subsidiaries, and our report in terms
of sub-sections (3) and (11) of Section 143 of the Act,
in so far as it relates to the aforesaid subsidiaries, is
based solely on the reports of the other auditor.
(b) We have placed reliance on: No comments.
i. The mine closure plan prepared by the Central
Mine Planning and Design Institute Limited
(CMPDIL) and approved by the management
of the CCL for the purpose of making provision
towards Mine Closure expenses.
ii. The Management’s evaluation/estimates, No comments.
whether technical or otherwise for making the
provision towards impairment of fixed assets.

398
(c) As per Consolidated financial statement Advance Auto clearance of balances is under development stage
from customers amounts to Rs 3063.62 crores and expected to be in operation very soon.
(Note 23). However, there are also balances lying
outstanding under Trade Receivables (Note 13)
against those Advances which requires reconciliation.
Our opinion on the consolidated financial statements,
and our report on Other Legal and Regulatory
Requirements below, is not modified in respect of
the above matters with respect to our reliance on
the work done and the reports of the other auditors
and the financial statements / financial information
certified by the Management.

Report on Other Legal and Regulatory Requirements

As required under Section 143(5) of the Companies

Act, 2013, we give in the “Annexure-A”, a statement
on thedirections issued by The Comptroller and Au-
ditor General of India after complying with their
suggested methodology of Audit, the action taken
thereon and its impact onthe accounts and finan-
cial statements of the Group.

2. With respect to the matters specified in Paragraphs

3(xxi) and Paragraph 4 of the Companies (Auditor’s
Report) Order, 2020 (“CARO”) issued by the Central
Government of India in terms of Section 143(II) of the
Act, to be included by us and for its Subsidiary
included in the Consolidated financial Statements
of the Company issued by other auditor, to which
reporting under CARO is applicable, which requires
us to report the Clause numbers of the CARO Reports
of the Group Companies where any qualification or
adverse remarks has been reported by the respective
auditors, we report as below:

Clause no. of
Holding
the CARO report
Sl Name CIN Co./Subs./
which is qualified
Associate/ JV
or adverse
1 CCL U10200JH Holding Co. Clause
1956GOI 3(i)(c),
000581 3(ii)(a)
2 JCRL U45201JH Subsidiary
2015GOI Co. Nil
00313

399
3. As required by section 143(3) of the Act, we reportthat:
a. We have sought & obtained all the information &
explanation which to best of our knowledge and
belief were necessary for purpose of our audit
of the aforesaid consolidated Ind AS financial
statements read with as reported in clauses (a),
(b), (c), (d), (e) & (f ) of the “Emphasis of Matters”
paragraph above.
b. In our opinion, proper books of account as
required by law relating to preparation of
the aforesaid consolidated Ind AS financial
statements have been kept so far as appears
from our examination of those books and the
reports of the other auditor.
c. The reports on the accounts of the Holding
company (including areas which are audited by
branch auditors) audited by us and its subsidiary
company incorporated in India audited under
section 143(8) of the Act by other auditor have
been sent to us and have been properly dealt
with in preparing this report.
d. The Consolidated Balance Sheet, the
Consolidated Statement of Profit and Loss, and
the Consolidated Cash Flow Statement dealt with
by this Report are in agreement with relevant
books of account maintained for the purpose of
preparation of the consolidated IndAS financial
statements.
e. In our opinion, we don’t have any observation
which has an adverse impact on functioning of
the group.
f. In our opinion, the aforesaid consolidated Ind AS
financial statements comply with the Accounting
Standards specified under Section 133 of the Act
read with relevant Rule issued thereunder.
g. In pursuance of the Notification No. G.S.R.463(E)
dated 05.06.2015 issued by the Ministry of
Corporate affairs, section 164(2) of the Act,
pertaining to disqualification of Directors is not
applicable to the Government company.
h. We don’t have any qualification, reservation or
adverse remark relating to the maintenance of
accounts and the matters connected therewith.
i. With respect to the adequacy of internal financial
controls over financial reporting of the Group and
the operating effectiveness of such controls, refer
to our separate report in Annexure ‘B’. Our report
expresses an unmodified opinion on the adequacy
and operating effectiveness of the Group’s internal
financial controls over financial reporting.

400
 j. With respect to the other matters to be included
in the Auditor’s Report in accordance with Rule
11 of the Companies (Audit and Auditor’s) Rules,
2014, as amended, in our opinion and to the
best of our information and according to the
explanations given to us:
i. The company has disclosed its pending
litigations under Additional Note 38 of the
Consolidated Ind AS financial statement.
The impact, if any, of these litigations will
be given effect to as and when the same are
determined/settled.
ii. The Company has made provision as required
under the applicable law or accounting
standards, for material foreseeable losses if
any, on long term contracts and the company
did not have any derivative contracts.
iii. As per the written representation received
from the management, there were no
amounts which were required to be
transferred to the Investor Education and
Protection Fund by the Company.
iv. (a) The Management has represented that,
to the best of its knowledge and belief no
funds have been advanced or loaned or
invested (either from borrowed funds or
share premium or any other sources or kind
of funds) by the company to or in any other
person or entity, including foreign entity
(“intermediaries”), with the understanding,
whether recorded in writing or other wise,
that the intermediary shall, whether, directly
or indirectly lend or invest in other persons or
entities identified in any manner whatsoever
by or on behalf of the company (“ultimate
Beneficiaries”) or provide any Guarantee,
Security or the like on behalf of the ultimate
Beneficiaries;
(b) The Management has represented, that to
the best of its knowledge and belief no funds
have been received by the company from
any person or entity, including foreign entity
(“Funding Parties”), with the understanding,
whether recorded in writing or otherwise, the
company shall, whether, directly or indirectly,
lend or invest in other person or entities
identified in any manner whatsoever by or
on behalf of the funding party (“ultimate
Beneficiaries”) or provide any Guarantee,
Security or the like on behalf of the ultimate
Beneficiaries;

401
 (c) Based on such audit procedures that have
been considered reasonable and appropriate
in the circumstance, nothing has come to
our notice that has caused to believe that
representations under Sub-Clause(i) and (ii)
of Rule 11(c), as provided under (a) and (b)
above, contain any material misstatement.
v. (a) The final dividend proposed in the previous
year, declared and paid by the company
during the year is in accordance with section
123 of the Act, as applicable.
(b) The interim dividend declared and paid by
the Company during the year is in compliance
with Section 123 of the Act.
(c) The Board of Directors of the company
have proposed final dividend for the year
which is subject to the approval of the
members at the ensuing Annual General
Meeting. The amount of dividend proposed is
in accordance with Section 123 of the Act, as
applicable.
vi. Proviso to Rule 3(1) of the Companies
(Accounts) Rules, 2014 for maintaining books
of account using accounting software which
has a feature of recording audit trail (edit log)
facility is applicable to the Company with
effect from April 1, 2023, and accordingly,
reporting under Rule 11(g) of Companies
(Audit and Auditors) Rules, 2014 is not
applicable for the financial year ended March
31, 2023

For SPAN & Associates

CHARTERED ACCOUNTANTS,
(Firm Registration No. 302192E)

Sd/-
(CA K. Chakrabarti)
Partner
(M. NO. 015363)
UDIN: 23015363BGYQYR3589

Place : Ranchi.
Dated : 13.06.2023

402
 Annexure “A” referred to in paragraph 1 of “Report on Other Legal and Regulatory
Requirements” of Independent Auditor’s Report on the Consolidated Ind AS
financialstatements for the year ended March 31, 2023, we report that:
Report on directions under section 143(5) of the Companies Act, 2013
in respect of M/s Central Coalfields Limited for the year 2022-23

PART-I
Sl.
AUDITORS’ REPORT MANAGEMENT’S REPLY
No.

1. Whether the company has system in place to process all No Comments.

the accounting transactions through IT systems? If yes, the
implication of processing of accounting transaction outside
IT system on integrity of the accounts along with the financial
implication, if any may be stated.

There is a system in place to process all the accounting

transaction through SAP system. A few modules of
SAP system are yet to be made fully functional. The
accounting of Performance Incentive, Closing Stock
valuation and OBR done through other IT system
and the end result is entered in the main accounting
system.

2. Whether there is any restructuring of an existing loan No Comments.

or cases of waiver / write-off of debts / loans / interest etc.
made by a lender to the company due to the company’s
inability to repay the loan? If yes, the financial impact may
be stated. Whether such cases are properly accounted for? (In
case, lender is Government company, then this direction is
also applicable for statutory auditor of lender company)
As per information and explanations provided to us
there is no such cases.

3. Whether funds (Grants/subsidy etc.) received/receivable No Comments.

for specific schemes from central/state Government or its
agencies were properly accounted for/utilized as per its
terms and conditions?
List the cases of deviation.
As per information and explanation provided to us
there is no such cases of deviation.

403
 PART-II
AUDITORS’ REPORT MANAGEMENT’S REPLY
Report on additional directions under Section
143(5) of the Companies Act, 2013 in respect of M/s.
Central Coalfields Limited for the year 2022-23.
1. Whether coal stock measurement was done based No Comments
on Yellow Book? Whether physicalstock measurement
reports are accompanied bycontour maps in all cas-
es? Whether approval of the competent authority
was obtained for new heap, if any created during
the year.
As per information and explanation given to us,
coal stock measurement is done based on Yellow
book. The physical stock measurements are done
as per guideline of CIL Annual Coal Stock Measure-
ment keeping in view the contour map which is ac-
companied with the measurement report.
Further, any new heap is created only after approv-
al of the competent authority.
2. Whether the company has conducted physical verifi- No Comments
cation exercise of assets and properties at the time of
merger/split/re-structure of any area. If so, whether
the concerned subsidiary followed the requisite pro-
cedure.
As per information and explanation given to us,
Giridhi area has been merged with Dhori area with
effect from financial year 2022-23 and physical
verification of Assets and Properties was conducted
by the area.
3. Whether separate escrow accounts for each mine No Comments
have been maintained in CIL and its subsidiary com-
panies. Also examine the utilization of the fund of
the account.
As per information and explanation given to us,
Escrow Account for 66 mines has been maintained
and during the year, the CCL hasreceived sum of ₹
5.50 crores (P.Y.- ₹ 35.30 crores) for mine closure ac-
tivities afterobtaining approval from the Coal Con-
troller Office.
In respect of Pindra OC Mines & Tapin South OCP
Escrow account has not been opened due to non-
availability of Approved PR&MCP.

404
4. Whether the impact of penalty for illegal mining as No Comments
imposed by the Hon’ble Supreme court/National
Green Tribunal /State Pollution control Board has
been duly considered and accounted for?
Pursuant to the order of the Hon’ble Supreme Court
of India, District Mining Offices of Jharkhand had
raised a demand of ₹ 13568.50 crores for mining in
excess of the environmental clearances limit in 42
mines. Against the said demand, the CCL has filed a
revision petition before the Hon’ble Coal Tribunal,
Ministry of Coal, Govt. of India, the adjudicating
authority under the MMDR Act. The Revisional
Authority vide its interim order dt.16.01.2018 has
stayed the execution of the demand till further
order.
Taking into consideration of the order of the
Revisional Authority, Ministry of Coal, Govt. of India
vide its order dated 21/12/2021 to Damodar Valley
Corporation (DVC) in a similar demand notice, the
said demand has neither been acknowledged as
debt nor the same has been included in Contingent
Liability of the Standalone Ind AS financial
statement. The said matter has been disclosed
under Note 38.
5. Whether any Independent Assessment/ Certification The company is in process to conduct migration Audit.
in respect of migration process of data from Coalnet
portal to SAP has been done.

As per the information and explanation received

Independent Assessment/ Certification in respect
of migration process of data from Coal Net portal
to SAP is yet to be done.

405
 Annexure – “B” referred to in paragraph 3(g) of “Report on Other Legal and
Regulatory Requirements” of Independent Auditor’s Report on the Consolidated
Ind AS financial statements for the year ended March 31, 2023, we report that;

Report on the Internal Financial Controls Over Financial Reporting under Clause (i)of
Subsection 3 of Section 143 of the Companies Act, 2013 (“the Act”)
AUDITORS’ REPORT MANAGEMENT’S REPLY
We have audited the internal financial controls over
financial reporting of ‘Central Coalfields Limited’ (“the
Company”) as of 31st March 2023 in conjunction with our
audit of the Consolidated Ind AS financial statements of
the Company for the year ended on that date.
Management’s Responsibility for Internal
Financial Controls
The Company’s management is responsible for
establishing and maintaining internal financial controls
based on the internal control over financial reporting
criteria established by the Company considering the
essential components of internal control stated in the
Guidance Note on Audit of Internal Financial Controls Over
Financial Reporting issued by the Institute of Chartered
Accountants of India (‘ICAI’). These responsibilities include
the design, implementation and maintenance of adequate
internal financial controls that were operating effectively
for ensuring the orderly and efficient conduct of its
business, including adherence to company’s policies, the
safeguarding of its assets, the prevention and detection of
frauds and errors, the accuracy and completeness of the
accounting records, and the timely preparation of reliable
financial information, as required under the Companies
Act, 2013.
Auditors’ Responsibility
Our responsibility is to express an opinion on the
Company’s internal financial controls over financial
reporting based on our audit. We conducted our audit in
accordance with the Guidance Note on Audit of Internal
Financial Controls Over Financial Reporting (the “Guidance
Note”) and the Standards on Auditing, issued by ICAI and
deemed to be prescribed under section 143(10) of the
Companies Act, 2013, to the extent applicable to an audit
of internal financial controls, both applicable to an audit of
Internal Financial Controls and, both issued by the Institute
of Chartered Accountants of India. Those Standards and
the Guidance Note require that we comply with ethical
requirements and plan and perform the audit to obtain
reasonable assurance about whether adequate internal
financial controls over financial reporting was established
and maintained and if such controls operated effectively in
all material respects.

406
 AUDITORS’ REPORT MANAGEMENT’S REPLY
Our audit involves performing procedures to obtain audit
evidence about the adequacy of the internal financial
controls system over financial reporting and their
operating effectiveness. Our audit of internal financial
controls over financial reporting included obtaining
an understanding of internal financial controls over
financial reporting, assessing the risk that a material
weakness exists, and testing and evaluating the design
and operating effectiveness of internal control based on
the assessed risk. The procedures selected depend on
the auditor’s judgment, including the assessment of the
risks of material misstatement of the Consolidated Ind AS
financial statements, whether due to fraud or error.
We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our audit
opinion on the Company’s internal financial controls
system over financial reporting.
Meaning of Internal Financial Controls Over Financial
Reporting
A company’s internal financial control over financial
reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting
and the preparation of Consolidated Ind AS financial
statements for external purposes in accordance with
generally accepted accounting principles. A company’s
internal financial control over financial reporting includes
those policies and procedures that
(1) pertain to the maintenance of records that, in reasonable
detail, accurately and fairly reflect the transactions and
dispositions of the assets of the company;
(2) provide reasonable assurance that transactions
are recorded as necessary to permit preparation of
Consolidated Ind AS financial statements in accordance
with generally accepted accounting principles, and that
receipts and expenditures of the company are being made
only in accordance with authorizations of management
and directors of the company; and
(3) provide reasonable assurance regarding prevention
or timely detection of unauthorized acquisition, use,
or disposition of the company’s assets that could have
a material effect on the Consolidated Ind AS financial
statements.

407
 AUDITORS’ REPORT MANAGEMENT’S REPLY
Inherent Limitations of Internal Financial ControlsOver
Financial Reporting
Because of the inherent limitations of internal financial
controls over financial reporting, including the possibility
of collusion or improper management override of controls,
material misstatements due to error or fraud may occur
and not be detected. Also, projections of any evaluation
of the internal financial controls over financial reporting
to future periods are subject to the risk that the internal
financial control over financial reporting may become
inadequate because of changes in conditions, or that the
degree of compliance with the policies or procedures may
deteriorate.
Opinion
In our opinion, the Company has, in all material respects,
an adequate internal financial controls system over
financial reporting and such internal financial controls
over financial reporting were operating effectively as
at 31st March, 2023, based on the internal control over
financial reporting criteria established by the Company
considering the essential components of internal control
stated in the Guidance Note on Audit of Internal Financial
Controls Over Financial Reporting issued by the Institute
of Chartered Accountants of India. However, further
improvement is required in
i) processing of salary of Piece Rate Workers
through SAP (ERP).
ii) mapping of MSME Vendor in SAP for
compliance requirement of MSME Act 2006.
iii) imposing of restriction in Accessing of
SAP (ERP) through unsecured network/
connection.
Our opinion is not qualified in respect of the above matter.

For SPAN & Associates

CHARTERED ACCOUNTANTS,
(Firm Registration No. 302192E)

Sd/-
(CA K. Chakrabarti)
Partner
(M. No. 015363)
UDIN: 23015363BGYQYR3589
Place : Ranchi.
Dated : 13.06.2023

408
 Form AOC – 1
(Pursuant to first proviso to sub-section (3) of section 129 read with rule 5 of Companies (Accounts) Rules, 2014)

Statement containing salient features of the financial statement of Subsidiaries/Associate companies/Joint ventures
Part “A” : Subsidiaries
(Information in respect of each subsidiary to be presented with amounts in ₹ in Crores)

1. Sl. : 1

2. Name of the Subsidiary : Jharkhand Central Railway Limited

3. The date since when subsidiary was acquired : 31.08.2015

Reporting period for the subsidiary concerned, if different

4. : NA
from the holding company’s reporting period

Reporting currency and Exchange rate as on the last date of the

5.
relevant Financial year in the case of foreign subsidiaries
: NA

6. Share Capital : ₹ 100.99 Crores

7. Instrument entirely equity in nature : ₹ 433.51 Crores

8. Reserves & Surplus : ₹ 10.55 Crores

9. Total Assets : ₹ 671.26 Crores

10. Total Liabilities : ₹ 126.22 Crores

11. Investments : -

12. Turnover : -

13. Profit before Taxation : ₹ 8.13 Crores

14. Provision for Taxation : ₹ 2.72 Crores

15. Profit after Taxation : ₹ 5.40 Crores

16. Proposed Dividend : -

17. Extent of Share holding (in percentage) : 64.00%

Company Secretary General Manager (F)

409
 Inauguration of Executive Hostel of CCL at Gandhi Nagar, Ranchi
by Shri Pralhad Joshi, Honourable Minister of Coal,
Mines & Parliamentary Affairs, Govt. of India

410
411
CENTRAL COALFIELDS LIMITED
(A Mini Ratna PSU)
A Subsidiary of Coal India Limited
(CIN : U10200JH1956G01000581)

Regd. Office : @CCLRanchi

Darbhanga House @CentralCoalfieldsLimited
Ranchi - 834 029 Centralcoalfieldltd
JHARKHAND Central Coalfields Limited
Website : https://www.centralcoalfields.in @cclranchi