PMO directs Coal India to list all 8 subsidiaries by 2030 to boost governance, transparency
In a recent regulatory filing, Coal India confirmed its board has approved the listing of MCL and SECL. The move follows a directive from the Ministry of Coal to initiate concrete steps for listing both subsidiaries in the next financial year.
- Dec 28, 2025,
- Updated Dec 28, 2025 1:48 PM IST
In a major governance overhaul, the Prime Minister’s Office (PMO) has directed the coal ministry to ensure that all subsidiaries of state-owned Coal India Ltd (CIL) are listed on stock exchanges by 2030, according to highly placed sources.
The move is aimed at streamlining oversight, enhancing transparency, and unlocking value through asset monetisation. Coal India, which accounts for over 80% of India’s domestic coal production, currently operates through eight subsidiaries — Eastern Coalfields Ltd, Bharat Coking Coal Ltd (BCCL), Central Coalfields Ltd, Western Coalfields Ltd, South Eastern Coalfields Ltd (SECL), Northern Coalfields Ltd, Mahanadi Coalfields Ltd (MCL), and Central Mine Planning & Design Institute Ltd (CMPDIL).
Sources told PTI that preparations are in full swing for the listing of BCCL and CMPDIL, both of which are expected to debut on the bourses by March 2026. “The listing process for Bharat Coking Coal Ltd is in full steam with absolutely no holds or delays,” a source said, adding that domestic and international roadshows for BCCL have already been completed.
BCCL has also filed its draft red herring prospectus (DRHP) with SEBI for its proposed initial public offering (IPO), which includes an offer-for-sale (OFS) of up to 46.57 crore equity shares by Coal India. CMPDIL has filed its DRHP as well, with both IPOs pending regulatory approvals and subject to market conditions.
In a recent regulatory filing, Coal India confirmed its board has approved the listing of MCL and SECL. The move follows a directive from the Ministry of Coal to initiate concrete steps for listing both subsidiaries in the next financial year.
Coal India is also aiming to achieve a production target of 875 million tonnes for the current fiscal year.
State-run Coal India Limited (CIL) reported a consolidated net profit of ₹4,262.64 crore in the second quarter of the financial year 2025-26 (Q2FY26), down 32 per cent from ₹6,274.8 crore in the same quarter last year. Sequentially, profit dropped by 52 per cent from ₹8,734.17 crore in Q1FY26. The decline was driven by reduced sales and increased expenses. CIL's revenue from operations for the quarter stood at ₹30,186.7 crore, down 3.2 per cent year-on-year (Y-o-Y) and 15.8 per cent sequentially. Its sales contributed a total of ₹26,909.23 crore to revenue, down marginally from ₹27.271.3 crore in Q2FY25.
Coal India, which is also the world's largest coal-producing company, reported a 7.1 per cent increase in its total expenses to ₹26,421.86 crore from ₹24,670.70 crore in the same quarter last year.
In a major governance overhaul, the Prime Minister’s Office (PMO) has directed the coal ministry to ensure that all subsidiaries of state-owned Coal India Ltd (CIL) are listed on stock exchanges by 2030, according to highly placed sources.
The move is aimed at streamlining oversight, enhancing transparency, and unlocking value through asset monetisation. Coal India, which accounts for over 80% of India’s domestic coal production, currently operates through eight subsidiaries — Eastern Coalfields Ltd, Bharat Coking Coal Ltd (BCCL), Central Coalfields Ltd, Western Coalfields Ltd, South Eastern Coalfields Ltd (SECL), Northern Coalfields Ltd, Mahanadi Coalfields Ltd (MCL), and Central Mine Planning & Design Institute Ltd (CMPDIL).
Sources told PTI that preparations are in full swing for the listing of BCCL and CMPDIL, both of which are expected to debut on the bourses by March 2026. “The listing process for Bharat Coking Coal Ltd is in full steam with absolutely no holds or delays,” a source said, adding that domestic and international roadshows for BCCL have already been completed.
BCCL has also filed its draft red herring prospectus (DRHP) with SEBI for its proposed initial public offering (IPO), which includes an offer-for-sale (OFS) of up to 46.57 crore equity shares by Coal India. CMPDIL has filed its DRHP as well, with both IPOs pending regulatory approvals and subject to market conditions.
In a recent regulatory filing, Coal India confirmed its board has approved the listing of MCL and SECL. The move follows a directive from the Ministry of Coal to initiate concrete steps for listing both subsidiaries in the next financial year.
Coal India is also aiming to achieve a production target of 875 million tonnes for the current fiscal year.
State-run Coal India Limited (CIL) reported a consolidated net profit of ₹4,262.64 crore in the second quarter of the financial year 2025-26 (Q2FY26), down 32 per cent from ₹6,274.8 crore in the same quarter last year. Sequentially, profit dropped by 52 per cent from ₹8,734.17 crore in Q1FY26. The decline was driven by reduced sales and increased expenses. CIL's revenue from operations for the quarter stood at ₹30,186.7 crore, down 3.2 per cent year-on-year (Y-o-Y) and 15.8 per cent sequentially. Its sales contributed a total of ₹26,909.23 crore to revenue, down marginally from ₹27.271.3 crore in Q2FY25.
Coal India, which is also the world's largest coal-producing company, reported a 7.1 per cent increase in its total expenses to ₹26,421.86 crore from ₹24,670.70 crore in the same quarter last year.