Nagpur: Public Sector Undertaking, Western Coalfields Limited (WCL) has recorded the highest ever coal production ever since its inception. On latest count, its production stood at 43.212 million tonnes.
“It has not only achieved its Annual Action Plan (AAP) target of 42 million tonnes during the fiscal year 2006-07 but also exceeded it by 1.212 million tonnes,” WCL Chairman-cum-Managing Director, G S Chugh told reporters on 4 April, 2007.
WCL has limited potential in terms of coal reserves as it has only 4.6% of total national coal reserves and that too deep-seated and in small patches, giving little scope for development of large capacity mines.
It is the only Coal India Limited subsidiary which has not only achieved its underground annual target but surpassed it. The estimated turnover during the year was Rs 4,947 crore against budgeted Rs 4,736 crore. The net profit will be around Rs 900 crores as against Rs 620 crore budgeted.
The total sales realization during year 2006-07 was approximately Rs 5,136 crore and total outstanding dues with customers were brought down from Rs 394 crore as on April 1 last year to Rs 214 crore this year.
It has maintained its number one position among tax payers in Vidarbha region. The PSU paid Rs 593 crore as corporate tax to the Centre and Rs 620 crore as royalty to the state exchequer, Chugh said.
It has been given the prestigious Mini Ratna status by coal ministry recently.