The state-controlled extractor accounts for 80% of the dirty commodity dug up in the second-largest coal-consuming country.
Most of it is used for power production. If the Electricity power demand grows 7 % each year, India’s annual coal requirement rise up to 1250 millions tons by 2030,the company estimates.
That assumes PM Narendra Modi hits his ambitious goal of quadrupling power capacity from renewable energy to 450 gigawatts by then.
Coal India has some 116 major coal projects underway whose combined peak capacity will exceed its output in the year to March.
But beyond the next decade or so, boss Pramod Agrawal admits the future of the commodity is limited.
Shareholders of Coal India have lost money over the past five years, even including dividends, while the Nifty 50 produced hands-on returns.
Though profitable, the company faces fresh wage hikes for some 300,000 employees and is owned growing sums from power producers, a problem made worse by Covid-19 : Trade receivables were up almost 50 percent in the 9 months to December.