Government directed Coal India to list Subsidiaries to boost governance
In a major governance overhaul, the Prime Minister’s Office (PMO) has directed the coal ministry to ensure that all subsidiaries of state-owned Coal India Ltd (CIL) are listed on stock exchanges by 2030. The move is aimed at streamlining oversight, enhancing transparency, and unlocking value through asset monetisation. Coal India, which accounts for over 80 percent of India’s domestic coal production, currently operates through eight subsidiaries — Eastern Coalfields Ltd, Bharat Coking Coal Ltd (BCCL), Central Coalfields Ltd, Western Coalfields Ltd, South Eastern Coalfields Ltd (SECL), Northern Coalfields Ltd, Mahanadi Coalfields Ltd (MCL), and Central Mine Planning & Design Institute Ltd (CMPDIL).
As per the concerned officials, preparations are in full swing for the listing of BCCL and CMPDIL, both of which are expected to debut on the bourses by March 2026. “The listing process for Bharat Coking Coal Ltd is in full steam with absolutely no holds or delays and also domestic and international roadshows for BCCL have already been completed.
BCCL has also filed its draft red herring prospectus (DRHP) with SEBI for its proposed initial public offering (IPO), which includes an offer-for-sale (OFS) of up to 46.57 crore equity shares by Coal India. CMPDIL has filed its DRHP as well, with both IPOs pending regulatory approvals and subject to market conditions.
In a recent regulatory filing, Coal India confirmed its board has approved the listing of MCL and SECL. State-run Coal India Limited (CIL) reported a consolidated net profit of Rs. 4,262.64 crore in the second quarter of the financial year 2025-26 (Q2FY26), down 32 percent from Rs. 6,274.8 crore in the same quarter last year. Sequentially, profit dropped by 52 percent from Rs. 8,734.17 crore in Q1FY26. The decline was driven by reduced sales and increased expenses.
