Mahanadi Coalfields IPO Details

Incorporated in April 1992, Mahanadi Coalfields Limited is India’s largest coal producer in terms of production, primarily engaged in the mining and production of non-coking coal. The Company operates mainly in the Talcher and Ib Valley coalfields in Odisha and produces various grades of coal, including washed and beneficiated coal, catering primarily to the power sector as well as industries such as cement, sponge iron, steel, aluminium and paper.

The Company is a wholly owned subsidiary of Coal India Limited and was established to enhance coal production and meet India’s growing energy requirements. Its operations include a network of opencast and underground mines, supported by coal handling plants, rapid loading systems, silos and coal evacuation infrastructure. As of June 30, 2026, the Company operated 17 mines, including 14 opencast mines and three underground mines.

Mahanadi Coalfields follows a highly mechanised mining model, with extensive deployment of surface miners, enabling efficient coal extraction while reducing the use of explosives, ground vibration, dust and noise. Its predominantly opencast mining operations, mechanisation and strategic location have supported efficient production and cost management.

The Company also operates the Ib Valley Coal Washery, which has a capacity of 10 million tonnes per annum and produces washed coal with lower ash content for high-efficiency power stations. Its coal evacuation network is supported by extensive railway connectivity, dedicated coal corridors, roads, rapid loading infrastructure and access to ports on India’s eastern coast.

The Company derives a significant portion of its revenue from long-term Fuel Supply Agreements (FSAs) and serves customers across multiple states in India, including major power utilities. It is also focused on research and development, operational efficiency, technological advancement and environmentally sustainable practices, including the installation of solar power projects.

As of September 30, 2026, Mahanadi Coalfields had 20,526 permanent employees, comprising executives, workmen, staff and supervisors across mining, engineering, excavation, finance, human resources, environment, marketing and other operational functions.