Eastern Coalfields Limited

FINANCIAL RESULTS

Gross sales turnover for the year ending 31^st March, 2020 was Rs. 18192.36 Crore compared to Rs. 18385.03 Crore in the previous year resulting in decrease of 1.05% over previous year. During the financial year 2019-20, the company had made a pre-tax total comprehensive profit of Rs. 1283.15 Crore and a post-tax total comprehensive profit of Rs. 834.37 Crore compared to last year’s pre-tax total comprehensive income of Rs. 1237.00 Crore and post-tax total comprehensive income of Rs. 706.38 Crore. Details were as under:

(Rs. in Crore)

Particulars

2019-20

2018-19

Profit(+)/Loss(-) after charging all expenses but before PRP/ Executive Superannuation benefit interest, depreciation, Impairment, OBR, prior period adjustment.

Less : Impact of PRP/Executive Superannuation Benefit

Less : Actuarial provision

Less : Finance Cost

Less : Depreciation/Impairment

Less : OBR Adjustment

Total Comprehensive Income for the year after charging interest and Depreciation, impairment and OBR Adjustment.

Cash Profit

Total Comprehensive Income after Tax

2643.43

125.91

334.89

178.21

434.35

286.92

1283.15

2572.42

834.17

2706.65

120.91

234.42

163.10

494.98

456.24

1237.00

2712.13

706.38

Capital Expenditure:

Total Capital Expenditure during the financial year 2019-20 was Rs. 894.68 Crore (excluding exchange fluctuation) against the Capital Expenditure of Rs. 829.96 Crore during 2018-19.

Capital Structure:

(Rs. in Crore)

Particulars

2019–20

2018–19

A. SHARE CAPITAL

i) Authorized Share Capital (2,50,00,000 Eq. shares of Rs. 1000 each and 2,10,00,000 Preference Shares of Rs. 1000 each).

ii) Paid up Equity Share Capital (2,21,84,500 shares of Rs. 1000 each)

iii) Other Equity (Equity portion of Paid up 6% Non-convertible, cumulative, redeemable Preference Shares, fully paid up (20509700 shares of Rs. 1000 each))

B. LOAN FUNDS :

i. Export Development Corporation, Canada

ii. Liability component of Compound Financial Instrument (6% Pref. Share)

4600.00

2218.45

855.61

171.98

1794.99

4600.00

2218.45

855.61

165.55

1662.03

Repayment of Foreign Loan:

(Rs. in Crore)

Particulars	2019–20	2018–19
Repayment of foreign loan through CIL.	6.61	6.58

Payment/Adjustment of Royalty, Cess, Stowing excise duty & Sales Tax during the year:

(Rs. in Crore)

Particulars	2019-20				2018-19
Particulars	West Bengal	Jharkhand	Central	Total	West Bengal	Jharkhand	Central	Total
i) GST in respect of West Bengal
a. IGST	-	-	161.66	161.66	-	-	166.77	166.77
b. CGST	-	-	26.48	26.48	-	-	32.43	32.43
c. SGST	23.06	-	-	23.06	32.43	-	-	32.43
d. Compensation Cess	-	-	1157.69	1157.69	-	-	1160.54	1160.54
ii) In respect of Jharkhand
a. IGST	-	-	0.03	0.03	-	-	0.17	0.17
b. CGST	-	-	72.37	72.37	-	-	53.21	53.21
c. SGST	72.37	-	-	72.37	-	53.21	-	53.21
d. Compensation Cess	-	-	835.68	835.68	-	-	813.69	813.69
iii) Royalty on Coal	23.03	644.81	-	667.84	17.67	525.04	-	542.71
iv) RE & PE Cess	1767.72	-	-	1767.72	1587.50	-	-	1587.50
v) AMBH Cess	2.23	-	-	2.23	2.34	-	-	2.34
vi) PW & Road Cess	-	-	-	-	2.34	-	-	2.34
vii) Sales Tax (VAT/CST)	0.29	4.83	-	5.12	-	0.32	-	0.32
viii) Stowing Excise Duty	-	-	-	-	-	-	-	-
ix) Clean Energy Cess	-	-	-	-	-	-	-	-
x) Excise Duty on Coal	-	-	10.41	10.41	-	-	0.03	0.03
xi) Entry Tax	-	-	-	-	-	-	-	-
xii) Management Fees	-	1.57	-	1.57	-	2.16	-	2.16
xiii) Bazaar Fees	-	36.67	-	36.67	-	-	-	-
TOTAL	1888.70	687.88	2264.32	4840.90	1642.28	580.73	2226.84	4449.85

Directors’ Responsibility Statement:

Pursuant to sub-section (5) of Section 134 of the Companies Act, 2013 the Board of Directors of the Company hereby state and confirm that:

in the preparation of the annual accounts for the year ended 31^st March, 2020, all the applicable Indian Accounting Standards were followed with proper explanation relating to material departures;
the Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the Profit/Loss of the company for that period;
the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provision of the Companies Act, 2013 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;
the Directors had prepared the annual accounts on a going concern basis;
the Directors had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively and
the Directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.