CIL's subsidiaries, BCCL and CCL, located in Jharkhand, were major coking coal producers, accounting for almost the entire output of 54.3 MTs in 2022-23. During the year, BCCL produced nearly 62% (33.7 MTs) of the total output, a 16% growth over FY22's 29 MTs, while CCL recorded a 20% growth, producing 20.6 MTs.

During FY'23, coking coal imports were 56 MTs (provisional), down by 1.1 MTs compared to 57.1 MTs in FY'22.

CIL has set out a roadmap to produce 12 MTs per annum of washed coking coal by 2030 with ash content between 18%-19% and about 1.4 MTPA at 14% ash. In pursuit of this, CIL has commissioned 2 new coking coal washeries and renovated 3 older ones. It also plans to add 9 more new washeries, at an investment of around Rs 4,000 crore, of which few will replace the aged ones. The company currently operates 11 coking coal washeries.

In addition, CIL's raw coking coal feed to washeries in FY23 improved by 27% to 6.1 MTs from 4.8 MTs in FY22.

During this period, production of washed coking coal jumped to about 2.15 MTs compared to 1.6 MTs in FY'22, posting a 34% growth, both performance parameters were at six year high.

“Increased exploration of coking coal, opening of new mines, improved efficiency and expansion of the existing mines, reviving discontinued coking coal mines on revenue sharing basis will provide a boost for raising coking coal production. Coupled with increased washing capacity as planned, imports can be reduced to an extent,” said a senior official of CIL.

Coal India is a coal mining company engaged in the production and sale of coal. As of 31 December 2022, the Government of India held 66.13% stake in the company.

The company's consolidated net profit soared 70.1% to Rs 7,755.55 crore on 24.8% jump in net sales to Rs 32,429.46 crore in Q3 FY23 over Q3 FY22.

The scrip declined 0.97% to Rs 225.45 on the BSE.