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Coal Public Sector Enterprises (CPSEs) have emerged as significant contributors to India's economic growth, demonstrating resilience. The market capitalisation, capital expenditure (CAPEX), and profitability of coal CPSEs demonstrate their economic contributions and the direction in which they are heading.
The two coal heavyweights, Coal India Limited (CIL) and NLC India Limited (NLCIL) have seen a remarkable upturn in their primary business, inspiring confidence in investors and driving their stock prices to record highs. Over the previous year, coal PSU equities have grown into multi-baggers, offering significant dividend yield and capital appreciation gains. The market capitalization trajectory over time speaks volumes. Coal India's market capitalisation was ₹81,483.45 crore on April 1, 2021.
The market capitalisation rose sharply to ₹2,98,121 crore, witnessing a growth of 256.87% since 2021. Similarly, NLC India's market cap was at ₹7,064.78 crore on April 1, 2021. The market cap rose to ₹35,172 crore witnessing growth of 39.85%.
Coal CPSEs have been contributors and fulcrums of economic activities, steering the way through significant Capital Expenditure (CAPEX). Over the past three years, these entities have substantially boosted the country's economic ecosystem through noteworthy CAPEX contributions. In FY21, the capex by coal CPSEs stood at ₹17,474.91 crore; the capex rose to ₹19,656 crore in FY22. The capex in FY23 stood at ₹23,400.22 crore, witnessing a growth of 19.05%.
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