Question : Disinvestment of Coal India Ltd.

(a) whether the Government has recently empowered the Boards of the Central Public Sector Enterprises (CPSEs) to privatize, disinvest or close their subsidiaries and stakes in joint ventures and if so, the details thereof;

(b) whether the Coal India has been making profit since its inception and contributing sizeable share of dividends to National and State exchequers and to the shareholders in the country and if so, the details thereof;

(c) whether the Government has decided to go for disinvestment of the Coal India and its subsidiaries;

(d) if so, the details thereof and the reasons therefor; and

(e) the number of CPSEs under the Ministry which has been already privatized and the long term benefit derived therefrom?

MINISTER OF PARLIAMENTARY AFFAIRS, COAL AND MINES
(SHRI PRALHAD JOSHI)


(a) The Government of India on 01.06.2022 have empowered the Boards of holding/parent Public Sector Enterprises (PSEs) (Ratna and Non-Ratna both) as under:
i) To recommend on Disinvestment (both strategic disinvestment and minority stake sale) or closure of any of their Subsidiaries or Units or for sale of stakes in a Joint Venture (JV) company, whether set up in pursuance of the approval of Cabinet/Cabinet Committee on Economic Affairs (CCEA) or within the delegated powers of the PSEs. Proposal in this regard shall be submitted by the Parent/ Holding PSEs to DIPAM through its administrative Ministry. DIPAM shall take ''in-principle'' approval of the proposal from the Alternative Mechanism (AM). Boards of Maharatna PSEs shall continue to divest its shareholding (minority stake sale) as per the powers delegated to them in the year 2010 under the Maharatna scheme.
ii) To undertake transactions for disinvestments (both strategic disinvestment and minority stake sale)/closure of subsidiaries/units/ sale of stakes in JVs, including for such cases, where ''in-principle'' approval by the CCEA/AM has been accorded
(b) Coal India Limited (CIL) has not been making profit since its inception. CIL has been earning profit before tax consistently since 1991-92 except for the year 2000-2001. The Profit Before Tax of CIL (Consolidated) & Dividend paid by CIL since Initial Public Offering (IPO) i.e. from FY 2010-11 is as below-
COAL INDIA LTD (CONSOLIDATED) - SINCE IPO
Sl No. Year Profit Before Tax Total Dividend Dividend per share
? In Crore ? In Crore ? In Crore
1 2 3 4 5
1 2010-11 16463.24 2463.38 3.90
2 2011-12 21272.66 6316.36 10.00
3 2012-13 24979.04 8842.91 14.00
4 2013-14 22879.54 18317.46 29.00
5 2014-15 21583.92 13074.88 20.70
6 2015-16 21439.80 17306.84 27.40
7 2016-17 14446.33 12352.76 19.90
8 2017-18 10770.31 10242.24 16.50
9 2018-19 27126.87 8105.58 13.10
10 2019-20 24071.32 7395.27 12.00
11 2020-21 * 18009.24 9860.40 16.00
12 2021-22* (Provisional) 23616.28 10476.64 17.00
*Including Final Dividend.
Final Dividend for FY 2021-2022 to be approved by the shareholders at the AGM. Payment to Exchequer of last 5 years is summarized in Annexure-A.
(c) & (d) Ministry of Coal has agreed to the proposal for minority stake sale of two of the subsidiaries of CIL namely Bharat Coking Coal Limited (BCCL) and Central Mine Planning & Design Institute (CMPDI).
(e) No CPSE has been privatized under the Ministry of Coal.
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