New Delhi: State-run Coal India Limited (CIL) is set to list two more subsidiaries in the next financial year 2026-27 — Chhattisgarh-based South Eastern Coalfields Limited (SECL) and Odisha-based Mahanadi Coalfields Limited (MCL) as it looks to unlock the market value of its well-performing subsidiaries. The Ministry of Coal has advised CIL to take concrete steps to list the two subsidiaries in the upcoming financial year, following which the company’s board has granted in-principle approval for SECL. The proposal will now be communicated to the ministry for onward submission to the Department of Investment and Public Asset Management (DIPAM).
In a regulatory filing to the stock exchanges on Tuesday, CIL said that the Ministry of Coal has asked the company to take steps to list MCL and SECL in the upcoming financial year. “Ministry of Coal, vide its Office Memorandum I/37811/2025 dated 16.12.2025 had advised CIL to take concrete steps to ensure further listing of subsidiaries namely MCL and SECL in the upcoming financial year. Accordingly, CIL Board through circular resolution has accorded in–principle approval for listing of South Eastern Coalfields Limited (SECL) and the same shall be communicated to MoC for onward submission to DIPAM.”
“The proposed in-principle listing of SECL is subject to completion of various regulatory approvals,” said the company.
The other two subsidiaries for which the coal miner has already initiated the process of listing are Jharkhand-based Bharat Coking Coal Limited (BCCL) and Central Mine Planning & Design Institute Limited (CMPDIL).
MCL and SECL together account for over 52 percent of Coal India’s total coal production. SECL owns India’s largest coal mine, which is soon to be the world’s largest — Gevra mine in Chhatisgarh. MCL, on the other hand, is the subsidiary that contributes the largest share of coal production to CIL’s overall output at 29 percent.
MCL produced 225 MT of coal in FY2024-25. In the current financial year, MCL has set a target of producing 239 MT of the fossil fuel. According to Coal India’s long-term coal production plan, MCL will be chipping in 250 MT of coal in FY2026-27, 265 MT in FY2027-28, 285 MT in FY 2028-29 and 305 MT in FY2029-30. Then, MCL will progressively increase its coal production to 358 MT by 2034-35.
SECL, on the other hand, produced 167.49 MT coal in FY2024-25. It has a target of producing 212 MT in 2025-26. From 2026-27, SECL will ramp up production to 228 MT and 240 MT by 2027-28. By 2028-29, when CIL’s coal production is planned to touch 1 Billion Tonne (BT), SECL will be contributing 250 MT to the figure.
Coal India accounts for around 80 percent of India’s total coal production, and the proposed listings are aligned with the company’s broader plan to scale output to one billion tonnes and beyond by the end of the decade.
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