Coal India Limited, the world’s largest government-owned coal producer, has scheduled a meeting of the board of directors for November 10, 2023, to review and approve the audited financial results for the second quarter and half-year ending September 30, 2023. The company made this announcement in a filing with the market regulator on Wednesday.
The statement read, “Pursuant to Regulation 29 & 33 of the SEBI (LoDR) Regulations 2015, notice is hereby given that the meeting of the Board of Directors of the company will be held on Friday, the 10th Nov’23 inter-alia to consider, approve and take on record Audited Financial Results of the Company (Standalone & Consolidated) for the 2nd quarter and half year ended 30th Sep’ 23 after the results are reviewed by the Audit Committee of the Board.”
Additionally, the board of directors may deliberate on the recommendation for the first interim dividend for the fiscal year 2023-24, subject to approval by shareholders at the upcoming Annual General Meeting (AGM).
The company has also informed that the “trading window” under “the code of internal procedures and conduct for prevention of insider trading in securities of Coal India Limited” was closed from September 23, 2023, and is scheduled to reopen on November 14, 2023.
Separately, Coal India reported that its supplies to thermal power plants surged nearly 6% to 23.5 million tonnes (MTs) during the first half of October 2023, as compared to 22.2 MTs in the same period of October 2022. Overall supplies during the first 15 days of October 2023 amounted to 28.6 MTs, reflecting a 16% increase compared to the same period in 2022.
Coal India delivered approximately 319 MTs of coal to the country’s coal-fired power plants up to October 15, fiscal year 2023-24. This represents a growth of 12 MTs in volume, compared to the same period in fiscal year 2022-23, marking a 4% increase. The growth occurred amid a sudden rise in power demand and despite adverse weather conditions in coal-bearing regions served by Coal India’s subsidiaries in the eastern part of the country.