Coal India Ltd.

Coal India, the world’s largest coal mining company, has signed two to three non-disclosure agreements with Australian mine owners as it proceeds with the process of buying overseas assets. Further, the company is also yet to take decision on some other mines which produce 10-15 million tonnes of coal a year.

The company currently has a war chest of as much as Rs 35,000 crore that can be used to acquire overseas mining assets and is evaluating some 15 proposals out of the 32 that it has received.

The company, on consolidated basis, reported 34.90% jump in its net profit after taxes, minority interest and share of associates at Rs 5413.91 crore in Q4FY13 as compared to net profit of Rs 4013.41 crore in the same quarter previous year. Total income from operation of the company increased 1.78% to Rs 22111.07 crore as compared to Rs 21724.99 crore in corresponding quarter last year.