The company incorporated Pelma Collieries on 7 April 2023, with an initial authorised share capital of Rs 10 lakh and paid-up share capital of Rs 5 lakh.

PCL will carry on business to develop, erect, operate coal washeries, including coal handling systems and to do all necessary and incidental activities in this regard.

It will commence its business operations in due course, the company stated.

Adani Enterprises is the flagship company of Adani Group, one of India's largest business conglomerates. The company's business investments are centred on the fields of airport management, technology parks, roads, data centre and water infrastructure.

The company reported consolidated net profit of Rs 820.06 crore in Q3 FY23 as against a net loss of Rs 11.63 crore posted in Q3 FY22. Revenue from operations jumped 41.87% year on year (YoY) to Rs 26,612.23 crore in the quarter ended 31 December 2022.