MIRA INFORM REPORT

Report Date :

15.10.2014

IDENTIFICATION DETAILS

Name :	COAL INDIA LIMITED GOVERNMENT OF INDIAN UNDERTAKING
Registered Office :	Coal Bhawan, 10 Netaji Subhas Road, Kolkata – 700001, West Bengal
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	14.06.1973
Com. Reg. No.:	21-028844
Capital Investment / Paid-up Capital :	Rs.63163.600 Millions
CIN No.: [Company Identification No.]	L23109WB1973GOI028844
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Production and sale of Coal.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Aa (81)

RATING		STATUS	PROPOSED CREDIT LINE
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large

Maximum Credit Limit :	USD 660000000
Status :	Excellent
Payment Behaviour :	Regular
Litigation :	Exists
Comments :	Subject is an organized state owned coal mining corporate came into being in November 1975 with the government taking. It is having an excellent track. CIL is an apex body with 7 wholly owned coal producing subsidiaries and 1 mine planning and consultancy company spread over 8 provincial states of India. CIL also fully owns a mining company in Mozambique christened as ‘Coal India Africana Limitada’. Directors are reported to be experienced and respectable businessmen. Fundamental of the company seems to be strong. Trade relations are reported as fair. Business is active. Payments terms reported to be regular and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

N E W S

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long term rating : AAA
Rating Explanation	Have the highest degree of safety and carry lowest credit risk.
Date	02.09.2013

Rating Agency Name	CRISIL
Rating	Short term rating : A1+
Rating Explanation	Have very strong degree of safety and carry lowest credit risk.
Date	02.09.2013

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION DECLINED

MANAGEMENT NON – COOPERATIVE (91-33-22488099)

LOCATIONS

Registered Office :	Coal Bhawan, 10 Netaji Subhas Road, Kolkata – 700001, West Bengal, India
Tel. No.:	91- 33-22488099
Fax No.:	91- 33-22435316
E-Mail :	Mviswanathan2@coalindia.in complianceofficer@coalindia.in
Website :	www.coalindia.in

DIRECTORS

As on 31.03.2014

FUNCTIONAL DIRECTORS:
Name :	Dr A. K. Dubey
Designation :	Chairman (Additional Charge)
Name :	Mr. R. Mohan Das
Designation :	Personnel & Industrial Relations
Name :	Mr. N. Kumar
Designation:	Technical
Name :	Mr. B. K. Saxena
Designation :	Marketing
Name :	Mr. A. Chatterjee
Designation :	Finance
PART-TIME OFFICIAL DIRECTORS:
Name :	Mr. A. K. Dubey
Designation :	Additional Secretary, MoC, New Delhi.
Name :	Mrs. Sujata Prasad
Designation:	Joint Secretary & Financial Advisor, MoC, New Delhi
INDEPENDENT DIRECTORS:	Dr. R. N. Trivedi Mr. C. Balakrishnan Dr Noor Mohammad Mr. Alok Perti Mr. Shri Prakash Prof. Indranil Manna
PERMANENT INVITEES:
Name :	Mr. A. N. Sahay
Designation :	Chairman-cum-Managing Director, MCL
Name :	Mr. A. K. Debnath
Designation :	Chairman-cum-Managing Director, CMPDIL
Name :	Mr. A. K. Maitra
Designation :	Addl. Member (Traffi c Transportation), Railway Board. (from 10.06.2014)
Name :	Mr. S. Narsing Rao
Designation :	Chairman (From 24.04.2012 till 25.06.2014)
FUNCTIONAL DIRECTORS:
Name :	Mr. R. Mohan Das
Designation:	Director (P&IR) (From 01.06.2007)
Name :	Mr. N. Kumar
Designation :	Director (Technical) (From 01.02.2012)
Name :	Mr. B. K. Saxena
Designation :	Director (Marketing) (From 19.06.2012)
Name :	Mr. A. Chatterjee
Designation :	Director (Finance) (From 01.11.2012)
PART TIME OFFICIAL DIRECTORS:
Name :	Dr A. K. Dubey
Designation :	Additional Secretary, Ministry of Coal (From 03.04.13)
Name :	Mrs. Sujata Prasad
Designation :	Joint Secretary & Financial Advisor (From 03.05.13)
Name :	Mrs. Anjali Anand Srivastava
Designation:	Joint Secretary & Financial Advisor (From 20.01.2011 to 08.04.13)
Name :	Dr. R. N. Trivedi
Designation :	Independent Directors (From 24.08.2010 till 24.08.13 and from on 31.10.13)
Name :	Mr. Alok Perti
Designation :	Independent Directors (From 31.10.13)
Name :	Mr. C Balakrishnan
Designation :	Independent Directors (From 19.12.13)
Name :	Dr Noor Mohammad
Designation :	Independent Directors (From 19.12.13)
Name :	Mr. Sri Prakash
Designation :	Independent Directors (From 06.02.14)
Name :	Prof Indranil Manna
Designation :	Independent Directors (From 06.02.14)
Name :	Dr. A. K. Rath
Designation :	(From 27.04.2010 till 26.04.13)
Name :	Prof. S. K. Barua
Designation :	Independent Directors (From 24.08.2007 till 04.08.13)
Name :	Dr Sheela Bhide
Designation :	Independent Directors (From 04.08.2010 till 04.08.13)
Name :	Mr. Kamal R. Gupta
Designation :	Independent Directors (From 04.08.2010 till 04.08.13)
Name :	Dr. Mohd. Anis Ansari
Designation :	Independent Directors (From 24.08.2010 till 24.08.13)
Name :	Ms. Sachi Chaudhuri
Designation :	Independent Directors (From 24.08.2010 till 24.08.13)
PERMANENT INVITEES:
Name :	Mr. A. K. Debnath
Designation :	CMD, CMPDI (From 23.04.13)
Name :	Mr. A. N. Sahay
Designation :	CMD, MCL (From 23.04.13)
Name :	Mr. D. C. Garg
Designation :	CMD, Western Coalfi elds Limited (From 21.08.2008 till 23.04.13)
Name :	Mr. D. P. Pande
Designation :	Addl. Member (Traffi c Transportation) Railway Board (From 12.07.2012 till 10.4.13)

KEY EXECUTIVES

Name :	M.Viswanathan
Designation :	Company Secretary

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Category of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Central Government / State Government(s)	5662690126	89.65
Sub Total	5662690126	89.65
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	5662690126	89.65
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	31301716	0.50
Financial Institutions / Banks	5849169	0.09
Insurance Companies	150014003	2.38
Foreign Institutional Investors	339024195	5.37
Sub Total	526189083	8.33
(2) Non-Institutions
Bodies Corporate	40028425	0.63
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	75359809	1.19
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	6460142	0.10
Any Others (Specify)	5636815	0.09
Clearing Members	1155603	0.02
Non Resident Indians	2349397	0.04
Trusts	2131815	0.03
Sub Total	127485191	2.02
Total Public shareholding (B)	653674274	10.35
Total (A)+(B)	6316364400	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	6316364400	0.00

BUSINESS DETAILS

Line of Business :

Production and sale of Coal.

GENERAL INFORMATION

No. of Employees :

Information declined by the management

Bankers :

• State Bank of India
• Punjab National Bank
• United Bank of India
• Canara Bank
• Allahabad Bank
• Union Bank of India
• Bank of Baroda
• Bank of India
• Oriental Bank Of Commerce
• HDFC Bank
• ICICI Bank
• HSBC Limited
• Royal Bank Of Scotland
• Standard Chartered Bank
• BNP Paribas
• CITI Bank
• Deutsche Bank
• IDBI Bank
• UCO Bank
• Central Bank of India
• Bank of Maharashtra

Facilities :

Secured Loan	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
Long-term Borrowings
Term loan IBRD (USD Nil, Previous year USD 88.000 Millions)	0.000	4822.000
Term loan JBIC (JPY Nil, Previous year JPY 7391.700 Millions)	0.000	4321.900
Total	0.000	9143.900
Note: The foreign currency loans drawn from JBIC and IBRD banks for implementation of Coal sector Rehabilitation project in various Subsidiaries has been prepaid on 05.11.2013 and 06.12.2013 consequent upon the decision of the Board of Directors of CIL taken in 299th and 300th meeting held on dated 26.06.2013 and 03.08.2013 respectively. However, in terms of the agreement with JBIC and IBRD banks, Coal India Limited. had entered into back to back loan agreement with its participating Subsidiaries and therefore all other fi nancial charges viz interest, guarantee fee etc. upto to the date of prepayment has been transferred through Current Account with Subsidiaries.

Banking Relations :
Auditors :
Name :	De Chakraborty and Sen Chartered Accountants
Address :	Bikaner buildings, 1st Floor, 8-B, Lalbazar Street Kolkata-700001, West Bengal, India
Tel. No.:	91-33-22300171/5604
E-Mail :	dechasen@vsnl.net

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
8000000000	Equity Shares	Rs.10/- each	Rs. 80000.000 Millions
9041800	Non-cumulative 10% Redeemable Preference Shares	Rs. 1000/- each	Rs. 9041.800 Millions
	Total		Rs. 89041.800 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
6316364400	Equity Shares	Rs.10/- each	Rs. 63163.600 Millions

Note:

Shares in the company held by each shareholder holding more than 5% Shares

Name of Shareholder	No. of Shares Held (Face value of Rs.10 each)	% of Total Shares
Hon’ble President of India	5662690126	89.65

During the period there is no change in the total number of shares.

Listing of shares of Coal India Limited. In Stock Exchange.

Pursuant to divestment of 10% of total equity shares held by Hon’ble President of India (Govt. of India), to the public, the shares of Coal India Limited. is listed in two major stock exchanges of India, viz. Bombay Stock Exchange and National Stock Exchange on and from 4th November,2010.

During F.Y.2013-14 Govt.of India has further disinvested 0.35% of total Equity Shares equivalent to 22037834 number of Equity Shares by way of placement of such Shares in Central Public Sector Exchange Traded Fund (CPSE-ETF) and post such disinvestment Govt.of India holds 89.65% of the total Equity Share Capital as on 31.03.2014.

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	63163.600	63163.600	63163.600
(b) Reserves & Surplus	101288.800	141998.000	132483.900
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	164452.400	205161.600	195647.500
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	9143.900	11456.100
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	25214.500	23062.300	19771.500
(d) long-term provisions	1859.300	1615.300	1641.500
Total Non-current Liabilities (3)	27073.800	33821.500	32869.100
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	22.200	24.100	25.500
(c) Other current liabilities	41887.400	59647.900	65775.000
(d) Short-term provisions	16980.100	41716.100	12804.900
Total Current Liabilities (4)	58889.700	101388.100	78605.400
TOTAL	250415.900	340371.200	307122.000
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	960.500	964.100	1006.500
(ii) Intangible Assets	2.000	2.200	2.500
(iii) Capital work-in-progress	1862.700	1074.600	607.500
(iv) Intangible assets under development	174.600	144.300	126.600
(b) Non-current Investments	88581.900	88581.900	63191.900
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	6677.000	18157.500	31381.200
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	98258.700	108924.600	96316.200
(2) Current assets
(a) Current investments	7907.500	1678.800	2220.000
(b) Inventories	398.700	156.600	185.100
(c) Trade receivables	151.100	14.800	0.100
(d) Cash and cash equivalents	98178.400	181042.800	153027.200
(e) Short-term loans and advances	40147.000	40673.100	49743.500
(f) Other current assets	5374.500	7880.500	5629.900
Total Current Assets	152157.200	231446.600	210805.800
TOTAL	250415.900	340371.200	307122.000

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	3142.500	3522.500	4158.600
	Other Income	160898.500	110880.100	91147.200
	TOTAL (A)	164041.000	114402.600	95305.800
Less	EXPENSES
	Cost of Materials Consumed	123.600	116.100	96.800
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(250.300)	25.400	170.600
	Employees benefits expense	3550.000	3467.600	3252.900
	Power & Fuel	68.800	68.300	55.600
	Welfare Expenses	1620.700	979.700	199.400
	Repairs	73.800	100.600	94.800
	Contractual Expenses	793.900	543.700	464.000
	Provisions (Net of reversal)	402.900	197.400	198.300
	Other expenses	803.400	1717.400	920.100
	Prior Period Adjustment {charge/(income)}	0.000	0.000	(4.600)
	TOTAL (B)	7186.800	7216.200	5447.900
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	156854.200	107186.400	89857.900
Less	FINANCIAL EXPENSES (D)	2585.400	3756.500	3788.800
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	154268.800	103429.900	86069.100
Less/ Add	DEPRECIATION/ AMORTISATION (F)	64.100	49.600	69.600
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	154204.700	103380.300	85999.500
Less	TAX (I)	4119.300	5437.100	5348.500
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	150085.400	97943.200	80651.000
	Earnings / (Loss) Per Share (Rs.)	23.76	15.65	12.83

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
PAT / Total Income	(%)	91.49	85.61	84.62
Net Profit Margin (PBT/Sales)	(%)	4907.07	2934.86	2067.99
Return on Total Assets (PBT/Total Assets}	(%)	96.50	41.26	35.36
Return on Investment (ROI) (PBT/Networth)		0.94	0.50	0.44
Debt Equity Ratio (Total Debt /Networth)		0.00	0.04	0.06
Current Ratio (Current Asset/Current Liability)		2.58	2.28	2.68

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	63163.600	63163.600	63163.600
Reserves & Surplus	132483.900	141998.000	101288.800
Net worth	195647.500	205161.600	164452.400
long-term borrowings	11456.100	9143.900	0.000
Short term borrowings	0.000	0.000	0.000
Total borrowings	11456.100	9143.900	0.000
Debt/Equity ratio	0.059	0.045	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	4158.600	3522.500	3142.500
		(15.296)	(10.788)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	4158.600	3522.500	3142.500
Profit	80651.000	97943.200	150085.400
	1939.38%	2780.50%	4775.99%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	Yes
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

LITIGATION DETAILS

CALCUTTA HIGH COURT

CASE STATUS INFORMATION SYSTEM

Case Status: Pending

Status of Civil Suits (CS) 198 of 2014

Apeejay Private Limited Vs. Coal India Limited

Pet’s Fox and Mandal

Res’s Adv:

Court No. 18 Last Listed on: Monday, June 09, 2014

Category: Money Claims / Copnesation / Damages / Mesne Profits

CONNECTED APPLICATION (S)	CONNECTED MATEER (S)
NO CONNECTED APPLICATION	NO CONNECTED CASES

Case updated on : Wednesday, June, 2014

MANAGEMENT DISCUSSION AND ANALYSIS

INDUSTRY STRUCTURE AND DEVELOPMENT

OVERVIEW OF THE INDIAN ECONOMY

With an estimated GDP of approximately US $4.96 trillion in 2013, on a purchasing power parity basis, India is one of the largest economy in the world. India is also one of the fastest growing economies in the world. Coal is the one of the prime fuels in India.

Global coal industry and reserves

The world coal reserves as per the rate of production in 2013 are estimated to suffice on an average for the next 113 years, whereas going by the rate of production of coal in india vis-à-vis its proved reserves such period stands on an average at 100 years. Although proved coal reserves are widely distributed across the world, 82.8% of the world’s recoverable reserves are located in five regions: the United States (26.6%), Russian Federation (17.6%), China (12.8%), Total Europe and Eurasia (other than Russian Federation) (17.2%), and Australia (8.6%) (Source: BP Statistical Review of World Energy June 2014). According to the BP Statistical Review of World Energy June 2013, India accounted for 6.8% of the world’s Proved reserves.

Global coal production and consumption

China is the largest producer of coal 3,680.000 million tons (47.4% of the total worldwide production in 2013), followed by the United States 892.600 million tons (12.9% of the total worldwide production in 2013. Asia is the biggest market for coal and currently accounts for 70.5% of global coal consumption, owing to China and India, who are the primary consumers.

Indian coal industry and reserves

As on 01.04.2014, the estimated geological resource of Indian coal was 301.56 billion tons. In India, coal is the prime fuel used in fi ring thermal power plants due to its availability and affordability. Coal is the dominant source of energy and met a substantial part, of the total primary energy requirement of India. The coal sector in India is primarily dominated by the PSUs under the central and the state governments.

OUTLOOK

In the terminal year (2016-17), as per XII Plan document, growth rate of demand of coal in India has been envisaged at 7.09 % (980.50 Mt). In 2014-15, demand of coal in India has been estimated to the tune of 787.03 Mt against 769.69 Mt in 2013-14.

In the terminal year of XII Plan (2016-17), the envisaged indigenous coal production is 795.00 Mt. Out of this, share of CIL is 615 Mt (77 % share of total production)with an envisaged growth rate of 7.12 %. Out of this, 30.20 % is to come from existing mines, 54.2 % from projects under implementation and 15.6% from new projects to be taken up. On date, 149 projects are under various stages of implementation. Further, 126 new projects are also identified to be taken up in future.

Coal production target of CIL in 2014-15 is 507 Mt with a growth of 9.61 % over the last year’s achievement.

CIL has proposed a capital outlay of Rs.254000.000 Millions in XII Plan plus an ad-hoc provision of Rs.350000.000 Millions for acquisition of assets abroad and development of the acquired coal blocks in Mozambique. The capital expenditure for the year 2014- 15 has been envisaged at Rs.52250.000 Millions plus additional ad-hoc provision of Rs.45000.000 Millions for acquisition of coal assets abroad and development of coal blocks in Mozambique.

Railway Infrastructure Projects: In order to achieve the planned growth in production and evacuation in future, CIL has undertaken the following major Railway Infrastructure Projects to be executed by Indian Railways Authority: 1. Tori-Shivpur-Khatotia new BG Line with a length of about 93.45 Km for North Karanpura Coalfi elds of Central Coalfi elds Limited, Ranchi, Jharkhand. The work is under execution in Tori-Shivpur Section by East Central Railway, Patna.

2. Jharsuguda –Barpalli Railway Infrastructure Project with a length of about 52.4 Km for IB Coalfi elds of Mahanadi Coalfi elds Limited, Sambalpur, Odisha. The work is under execution by South Eastern Railways, Kolkata.

3. To cater evacuation of coal from Mand-Raigarh and Korba-Gevra Coalfi elds of SECL, following two (2) Railway Corridors have been identifi ed for construction:

(a) East Corridor (Bhupdeopur-Gharghoda-Dharamjaiigarh upto Korba with a spur from Gharghoda to Donga Mahua to connect mines of Gare-Pelma Block) with a length of about 180 km.

(b) East-West Corridor (Gevra Road via Dipka, Kathghora, Sindurgarh, Pasan) with a length of about 122 Km

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	90254272	01/09/2008 *	410,000,000.00	STATE BANK OF INDIA AS LEAD BANK	RELIANCE HOUSE CAG BRANCH, 34, J.L. NEHRU ROAD, KOLKATA, WEST BENGAL - 700014, INDIA	A45493327
2	90253925	14/12/1999	130,000,000.00	BANQUE NATIONAL DE PARIS	STEPHEN HOUSE, 4A B.B.D. BAG, KOLKATA, WEST BENGA L - 700001, INDIA	-
3	90253863	12/03/1999	500,000,000.00	CENTURAIN BANK LTD.	234/3A, A.J.. BOSE ROAD, KOLKATA, WEST BENGAL - 7 00020, INDIA	-

CONTINGENT LIABILITIES (As on 31.03.2014)

• The amount remaining to be executed on capital account not provided for is Rs.454.400 Millions (Rs.1082.300 Millions).

• The amount remaining to be executed on revenue account not provided for is Rs.5108.300 Millions (Rs.4589.500 Millions).

• Claims against the company not acknowledged as debts are Rs.18022.500 Millions (Rs.238.500 Millions).

• The Competition Commission of India (CCI), on the basis of complaints by few coal customers (called as ‘informant’ in the case) against certain conducts of M/S Coal India Limited, M/S Western Coalfi elds Limited, M/S South Eastern Coalfi elds Limited, M/S Mahanadi Coalfi elds Limited (called as ‘opposite party’ in the case) heard the case and vide its order dated 09.12.2013, had inter-alia imposed a penalty of Rs.17730.500 Millions which is to be deposited within 60 days of receipt of the order.

The appeal against the above order has already been fi led and the hearing is taking place from time to time.

The Competition Appellate Tribunal vide its interim order dated 13.01.14, has granted status quo until further orders, in respect of implementation of directions/restraints (other than the imposition of penalty) ordered by CCI on 09.12.13.

Further, the Competition Appellate Tribunal in the hearing dated 26.02.2014 has agreed to grant stay in favour of CIL on the order of penalty of Rs.17730.500 Millions pending disposal of Appeal, on the condition that CIL deposits a token penalty of Rs.500.000 Millions within 3 weeks from the date of the order. Accordingly the said sum of Rs.500.000 Millions has been deposited on 12^th March 2014.

In view of the above, the entire amount of penalty of Rs.17730.500 Millions under appeal has been shown as contingent liability and included with Rs.18022.500 Millions mentioned above, with corresponding Rs.500.000 Millions under deposits in the books of Coal India Limited being a holding company.

• The company has given guarantee for loans obtained by subsidiaries from Export Development Bank of Canada (EDC) and Liebherr France the outstanding balance of which as on 31.03.2014 stood at Rs.1680.700 Millions (Rs.1603.500 Millions) and Rs.97.500 Millions (Rs.87.200 Millions) respectively.

• As on 31.03.2014 outstanding letters of credits amounted to Rs.596.600 Millions (Rs.2164.100 Millions).

STATEMENT OF STANDALONE UNAUDITED RESULTS FOR THE QUARTER ENDED 30.06.2014

(Rs. In Millions)

	Quarter Ended
	30.06.2014 (unaudited)
1. Income from operations
a) Net sales/ Income from operation (net of excise duty)	665.500
b) Other operating income	0.000
Total income from Operations(net)	665.500
2.Expenditure
a) Cost of material consumed	32.700
b) Purchases of stock in trade	0.000
c) Changes in inventories of finished goods, work-in-progress and stock-in-trade	(122.800)
d) Employees benefit expenses	871.200
e) Depreciation and amortization expenses	16.100
f) Power and fuel	15.800
g) Welfare expenses	68.600
h) Repairs	15.300
i) Contractual Expenses	223.200
j)Other expenditure	167.800
k) Provisions / write off	8.900
Total Expenses	1296.800
3. Profit from operations before other income and financial costs	(631.300)
4. Other income	13830.000
5. Profit from ordinary activities before finance costs	13198.700
6. Finance costs	778.500
7. Profit before exceptional Items and Tax	12420.200
6. Exceptional Items	0.000
9. Profit before tax	12420.200
10.Tax expenses	400.000
11.Net Profit for the Period	12020.200
14.Paid-up equity share capital (Nominal value Re. 10/- per share)	63163.600
ii) Earnings per share (after extraordinary items)
(a) Basic	1.90
diluted	1.90

A. Particulars of shareholding
1. Public Shareholding
- Number of shares	653674274
- Percentage of shareholding	10.35%
2. Promoters and Promoters group Shareholding-
a) Pledged /Encumbered
Number of shares	--
Percentage of shares (as a % of total shareholding of the promoter and promoter group)	--
Percentage of shares (as a % of total share capital of the company)	--
b) Non Encumbered
Number of shares	5662690126
Percentage of shares (as a % of total shareholding of the promoter and promoter group)	100
Percentage of shares (as a % of total share capital of the company)	89.65
*Excludes shares represebted by Global Depository Receipts.

B. Investor Complaints
Pending at the beginning of the quarter	25
Receiving during the quarter	967
Disposed of during the quarter	968
Remaining unreserved at the end of the quarter	24

UNAUDITED SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER ENDED 30.06.2014

PARTICULARS	Quarter Ended
	30.06.2014 (unaudited)
Segment revenue
Coal Mining	665.500
Other incidental activities	11455.700
Total	12121.200
Less: Inter segment revenue	0.000
Net Sales / Income from operations	12121.200
Segment results (Profit/ Loss) before tax and interest
Coal Mining	(47.700)
Other incidental activities	11455.700
Total	11408.000
Add:
Interest	1765.900
Other un-allocabe income / expenditure net	(753.700)
Total Profit before tax	12420.200
Capital Employed (Segment assets – Segment liabilities)
Coal Mining	(1044.800)
Other incidental activities	88873.900
Total	87829.100

NOTE:

The above results have been reviewed by the Audit Committee and thereafter approved by the Board of Directors at their respective meetings held on August 12, 2014.The above results have been reviewd by the Statutory Auditors as required under Clause - 41 of the Listing Agreement.

The major income in the financial statement of Coal India Limited - Standalone is dividend received from subsidiaries. Dividend from subsidiaries during the quarter ended June 30, 2014 was Rs. 11251.400 Millions crore and for the previous year ended March 31, 2014 was Rs. 144068.200 Millions.

The Company is primarily engaged in the business of production and sale of Coal. However there is significant income from dividend from subsidiaries also.

The production and offtake of raw coal (in quantitative terms) for the period are as under

PARTICULARS	Quarter Ended
	30.06.2014 (unaudited)
Production Million Ton	1.300
Offtake Million Ton	1.200

Depreciation has been provided as per Schedule II of the Companies Act, 2013. However, pending completion of technical assessment to segregate the value of certain assets embedded within a different class of asset, depreciation has been provided on these assets on the basis of useful life applicable as per Schedule II of the Companies Act, 2013 for the un-segregated class of asset.

The CEO and CFO certificate in respect of the above results in terms of clause 41 of the Listing Agreement has been placed before the Board of Directors.

The figures for the proceeding quarter ended March 31, 2014 is the balancing figures between audited figures for the full financial year and the unaudited published year-to-date figures for nine months for respective year.

Figures for the previous period (s) have been regrouped wherever necessary, in order to make them comparable.

FIXED ASSETS

Tangible Assets

• Land
• Building/Water Supply/Roads and Culverts
• Plant and Equipments
• Telecommunication
• Railway Sidings
• Furniture and Fixtures/ Electrical Fittings/ Fire Arms
• Office Equipments
• Vehicle
• Aircraft
• Development
• Assets taken on Nationalisation

Intangible Assets

• Computer Software
• Development
• Prospecting and Boring

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.11
UK Pound	1	Rs.98.15
Euro	1	Rs.77.68

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	RAS
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	9
PAID-UP CAPITAL	1~10	9
OPERATING SCALE	1~10	9
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	9
--PROFITABILIRY	1~10	9
--LIQUIDITY	1~10	9
--LEVERAGE	1~10	9
--RESERVES	1~10	9
--CREDIT LINES	1~10	9
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		81

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.