iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Coal India eyes exceeding FY24 capex target of ₹16,500 crore

22 Feb 2024 , 03:38 AM

The state-owned Coal India Ltd. (CIL) is probably going to surpass its capex target of ₹16,500 Crore for the current fiscal year, the government announced on Wednesday. More than 80% of the country’s coal production comes from Coal India.

‘As we proceed into the fiscal year 2023–2024, CIL and NLCIL are both on pace to surpass their capital expenditure goals once more. The coal ministry released a statement saying, ‘CIL and NLCIL will both surpass their annual capex targets, further bolstering India’s economic growth trajectory.’ NLC India Ltd (NLCIL) has set a capital expenditure goal of ₹2,880 Crore for the current fiscal year.

₹21,030 Crore is the Ministry of Coal’s capital expenditure goal for FY24. Central Public Sector Enterprises (CPSEs) that deal with coal have been exceeding their capital expenditure goals for the previous few years.

CIL and NLCIL had met their capital expenditure goals in FY22 by 104.88% and 123.33%, respectively. Each of the companies hit about 113% of their goals in FY23. A Navratna firm under the coal ministry is NLC India. Power and mining are its main industries.

For feedback and suggestions, write to us at editorial@iifl.com

Next step, Coal India mines for volumes | Mint

Related Tags

  • capex
  • Coal India
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Securities Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.