Prakash Industries Initiates Mining Operations at Bhaskarpara Commercial Coal Mine

Prakash Industries Limited (PIL) announced the initiation of mining operations at its Bhaskarpara Commercial Coal Mine in Surajpur, Chhattisgarh. This development follows the receipt of all requisite permissions, including the official “Permission to Enter” granted by the Office of the Collector (Mining Branch).

Following this development, Prakash Industries’ share price opened higher on 21st January 2025 at ₹177.15 on the NSE and reached an intraday high of ₹177.80. However, due to market volatility, the stock price was trading down by 1.87% as of 1:34 PM.

Mining Operations Begin

With the green light to commence operations, mining activities at Bhaskarpara Coal Mine are set to begin immediately. Prakash Industries anticipates coal extraction to commence as early as next month. This marks a significant milestone in the company’s efforts to streamline operations and boost efficiency.

Operational Benefits

The coal sourced from this mine will be utilised in Prakash Industries’ Integrated Steel Plant. By reducing dependency on external coal supplies, the company expects substantial cost savings and operational efficiencies. Furthermore, as this is a commercial mine, the company plans to sell coal in the open market, opening an additional revenue stream.

Positive Impact on Profitability

The dual benefits of operational cost reductions and revenue from coal sales are likely to contribute significantly to the company’s bottom line. This strategic move aligns with Prakash Industries’ broader objectives of enhancing profitability and ensuring long-term sustainability.

About Company

Prakash Industries Limited (PIL), established in 1980, embarked on a focused journey to become a leading Integrated Steel and Power company. Committed to delivering sustainable value to its stakeholders, PIL has earned a reputation for offering quality products at competitive prices. Over the years, the company has expanded its presence across India’s geographical boundaries. With a keen eye on capitalising on the first-mover advantage in a competitive sector, PIL leverages its technology-intensive products to maintain an edge. The company has consistently embraced innovative strategies to reduce costs and optimise resource utilisation effectively

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