Calcutta: The Coal India subsidiary, Bharat Coking Coal Limited, has set its sight on a topline of ₹40,000 crore by 2029-30 with a production capacity of more than 100 million tonnes (mt) per year.

“In 2023-24, we produced 41.1 million tonnes of raw coal and in the current year (2024-25), the target is to produce 45mt. By 2029-30, we aim to produce 100mt. We are working on development of large coal blocks,” said Samiran Dutta, chairman and managing director of Bharat Coking Coal Limited.

In 2023-24 net sales of the company were ₹13,216.74 crore against ₹12,333.54 crore in 2022-23.

Net profit during FY 2023-24 was ₹1,564.46 crore compared with ₹664.78 crore in FY 2022-23.

“We have wiped out accumulated loss from the book of accounts for the first time. The company has declared dividend of ₹44.43 crore for the first time in its history,” Dutta said.

The company has produced around 1.5mt of washed coal in FY24 and is looking to increase this to 2.5mt in FY25, resulting in a forex savings of $562 million.

The company has also embarked on an asset monetisation strategy and is looking to invite bids for private sector participation towards development of coal washeries.

“Four coal washeries are under the process of monetisation with a total capacity of around 7.1mt. Private players will source coal from us and we will offer land on lease. The idea is step up production of washed coal by tapping into private sector efficiency and private sector can also use coal rejects for use in captive thermal power generation,” Dutta said.

“We have already garnered good interest from steel majors,” he said.

BCCL is also diversifying into coal bed methane and solar power generation.