Use Coal, Save the Trees
MISSION OF COAL INDIA - To produce and market the planned quantity of coal and coal products efficiently and economically in an eco-friendly manner with due regard to safety, quality and conservation. VISION OF COAL INDIA - To emerge as a global player in the primary energy sector committed to provide energy security to the country by attaining environmentally & socially sustainable growth through best practices from mine to market.

FINANCIAL RESULTS

Gross sales turnover for the year ending 31st March, 2018 was Rs. 15250.11 crore compared to Rs. 14717.53 crore in the previous year resulting in increase of 3.62 % over previous year. During the year under review, company had made a pre-tax total comprehensive loss of Rs. 1303.10 crore and a post-tax total comprehensive loss of Rs. 824.17 crore compared to last year’s pre-tax total comprehensive income of Rs. 51.90 crore and post-tax total comprehensive income of Rs. 20.77 crore. Details were as under:

(Rs. in crore)

Particulars

2017-18

2016-17

Profit(+)/Loss(-) after charging all expenses but before PRP/ Executive Superannuation benefit interest, depreciation, Impairment, OBR, prior period adjustment.

Less : Impact of PRP/Executive Superannuation Benefit

Less : Actuarial provision

Less : Interest

Less : Depreciation/Impairment

Less : OBR Adjustment

Total Comprehensive Income for the year after charging interest and Depreciation, impairment and OBR Adjustment.

Less: Prior Period Adjustment.

Total Comprehensive Income after considering Prior Period Adjustment.

Cash Profit

Total Comprehensive Income after Tax

865.12

41.08

1409.11

-

443.99

274.04

-1303.10

0.00

-1303.10

1524.53

-824.17

614.18

48.19

239.57

-

323.89

-49.37

51.90

0.00

51.90

996.08

20.77

Capital Expenditure:

Total Capital Expenditure during the year under review was Rs. 911.09 crore (excluding exchange fluctuation) against the Capital Expenditure of Rs. 827.80 crore during 2016-17.

Capital Structure:

(Rs. in crore)

Particulars

2017–18

2016–17

A. SHARE CAPITAL

i) Authorized Share Capital (2,50,00,000 Eq. shares of Rs. 1000 each and 2,10,00,000 Preference Shares of Rs. 1000 each).

ii) Paid up Equity Share Capital (2,21,84,500 shares of Rs. 1000 each)

iii) Other Equity (Equity portion of Paid up 6% Non-convertible, cumulative, redeemable Preference Shares, fully paid up (20509700 shares of Rs. 1000 each))

B. LOAN FUNDS :

i. Export Development Corporation, Canada

ii. Liability component of Compound Financial Instrument (6% Preference Share)

 

4600.00

2218.45

855.61

 

161.20

1537.16

 

4600.00

2218.45

855.61

 

167.20

1423.30

Repayment of Foreign Loan:

(Rs. in crore)

Particulars

2017-18

2016-17

Repayment of foreign loan through CIL.

6.04

6.39

Payment/Adjustment of Royalty, Cess, Stowing excise duty & Sales Tax during the year:

(Rs. in Crore)

Particulars

2017-18

2016-17

West Bengal

Jharkhand

Central

Total

West Bengal

Jharkhand

Central

Total

i) GST in respect of West Bengal

a. IGST

0.00

0.00

78.70

78.70

0.00

0.00

0.00

0.00

b. CGST

0.00

0.00

31.48

31.48

0.00

0.00

0.00

0.00

c. SGST

0.00

0.00

32.91

32.91

0.00

0.00

0.00

0.00

d. Compensation Cess

0.00

0.00

684.65

684.65

0.00

0.00

0.00

0.00

ii) In respect of Jharkhand

a. IGST

0.00

0.00

15.05

15.05

0.00

0.00

0.00

0.00

b. CGST

0.00

0.00

25.01

25.01

0.00

0.00

0.00

0.00

c. SGST

0.00

0.00

25.01

25.01

0.00

0.00

0.00

0.00

d. Compensation Cess

0.00

0.00

477.46

477.46

0.00

0.00

0.00

0.00

iii) Royalty on Coal

18.87

405.88

0.00

424.75

22.39

701.12

0.00

723.51

iv) RE & PE Cess

1510.55

0.00

0.00

1510.55

1637.14

0.00

0.00

1637.14

v) AMBH Cess

2.15

0.00

0.00

2.15

2.04

0.00

0.00

2.04

vi) PW & Road Cess

2.12

0.00

0.00

2.12

1.97

0.00

0.00

1.97

vii) Sales Tax (VAT/CST)

104.90

11.99

0.00

116.89

232.39

8.94

189.87

431.20

viii) Stowing Excise Duty

0.00

0.00

20.79

20.79

0.00

0.00

43.05

43.05

ix) Clean Energy Cess

0.00

0.00

622.25

622.25

0.00

0.00

1681.83

1681.83

x) Excise Duty on Coal

0.00

0.00

72.43

72.43

0.00

0.00

332.64

332.64

xi) Entry Tax

0.00

0.00

1.76

1.76

2.42

0.00

0.00

2.42

TOTAL

1638.59

417.87

2087.50

4143.96

1898.35

710.06

2247.39

4855.80

Directors’ Responsibility Statement:

Pursuant to sub-section (5) of Section 134 of the Companies Act, 2013 the Board of Directors of the Company hereby state and confirm that:-

  1. in the preparation of the annual accounts for the year ended 31st March 2018, all the applicable Indian Accounting Standards were followed with proper explanation relating to material departures;
  2. the Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the Profit/Loss of the company for that period;
  3. the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provision of the Companies Act, 2013 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;
  4. the Directors had prepared the annual accounts on a going concern basis;
  5. the Directors had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively and
  6. the Directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.
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Copyright 2019 EASTERN COALFIELDS LIMITED,
Sanctoria, Post: Dishergarh, Dist.: West Bardhaman, W.B., PIN - 713 333 Tel: 0341-2520052-53, 2520414 Fax: 0341-2523574 Gram: EASTCOAL