Annual Report and Annual Accounts for the Year 2017-2018
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1 2 पं.का.:- कोयला भवन, कोयला नगर, धनबाद –826005 भारत कोकगं कोल लमटेड Regd. Off: KoylaBhawan, Bharat Coking Coal Limited Koyla NagarDhanbad – 826005 (A Mini Ratna Company) CIN: U10101JH1972GOI000918 (A Subsidiary of Coal India Ltd.) दरूभाष: 0326-2230190/ फ़े स -0326-2230050 (www.bccl.gov.in) ईमेल: [email protected] वोड सिचवालय/Board Secretariat Ref. No. BCCL :CS: F-AGM/2018/403 Dated : 06.07.2018 Notice Notice is hereby given to all the Shareholders, Directors and Auditors including Secretarial Auditor of Bharat Coking Coal Limited that the 47th Annual General Meeting of Bharat Coking Coal Limited will be held at its Registered Office, Koyla Bhawan, P.O. Koyla Nagar, Dhanbad on Friday the 13th July, 2018 at 11.30 AM to transact the following businesses: ORDINARY BUSINESS 1) To consider and adopt the Audited Financial Statements of the Company for the financial year ended 31st March, 2018 including the Audited Balance Sheet as at 31st March, 2018 and Statement of Profit & Loss for the year ended on that date together with the Reports of Board of Directors, Statutory Auditor and Comptroller & Auditor General of India thereon. 2) To appoint a Director in place of Shri K.S. Rajashekar, DIN No. 07125931, who retires by rotation in terms of Section 152(6) of the Companies Act 2013, and being eligible, offers himself for re- appointment. 3) To appoint a Director in place of Shri Debal Gangopadhyay, DIN No. 07576633, who retires by rotation in terms of Section 152(6) of the Companies Act 2013 and being eligible, offers himself for re- appointment. By Order of the Board (B.K. Parui) Company Secretary REGISTERED OFFICE: Koyla Bhawan, P.O.: Koyla Nagar, Dist.: Dhanbad Dated: 06.07.2018 1. Member entitled to attend and vote at the meeting is entitled to appoint a PROXY to attend and vote instead of himself and the PROXY need not be a member. A proxy form is enclosed. 2. The shareholders are requested to give their consent for calling the Annual General Meeting at a shorter notice pursuant to the provisions of Section 101(1) of the Companies Act, 2013. 3 MANAGEMENT DURING THE YEAR 2017-18 CHAIRMAN-CUM-MANAGINGDIRECTOR Shri Gopal Singh : (From 27.10.2016 to 25.09.2017) Shri Ajay Kumar Singh : (From 25.09.2017; continuing) FULL TIME DIRECTORS Shri K.S. Rajashekar : Finance (From 01.03.2015; continuing) Shri D.Gangopadhyay : Technical (From 26.07.2016; continuing) Shri B.K. Panda : Personnel (From 01.01.2014 to 30.06.2017) Shri N.K. Tripathi : Technical (From 22.12.2017; continuing) Shri R.S. Mahapatra : Personnel (From 22.12.2017; continuing) PART TIME DIRECTORS Shri Sekhar Saran : D(T), CIL, Kolkata (From 19.12.2016 to 09.11.2017) Shri Binay Dayal : D(T), CIL, Kolkata (From 09.11.2017; continuing) Shri Vivek Bharadwaj : Joint Secretary, Ministry of Coal,Govt. Nominee (From 09.06.2017 to 30.10.2017) Shri N.K. Sudhansu : Joint Secretary, Ministry of Coal,Govt. Nominee (From 30.10.2017; continuing) Shri Peeyush Kumar : D(T) MOC, (From 05.08.2016 to 09.06.2017) INDEPENDENT DIRECTORS Dr. A.K. Lomas : (From 17.11.2015; continuing) Dr. Hari Singh Yadav : (From 17.11.2015; continuing) Shri Bishnu Prasad Das : (From 02.02.2017; continuing) Dr. K.S. Khobragade : (From 06.09.2017; continuing) PERMANENT INVITEES 4 BANKERS & AUDITORS BANKERS State Bank of India Bank of India Canara Bank Union Bank of India Oriental Bank of Commerce Syndicate Bank Bank of Maharastra UCO Bank Andhra Bank Axis Bank ICICI Bank HDFC Bank Corporation Bank Allahabad bank Bank of Baroda Punjab National Bank United Bank of India IDBI Bank Ltd AUDITORS Statutory Auditors M/s. Rajesh K Jhunjhunwala & Co. Chartered Accountants, Dhanbad BRANCH AUDITORS M/s. L K Saraf & Co. Chartered Accountants, Ranchi M/s. K C Tak & Co. Chartered Accountants, Ranchi M/s. RKGSLV & Co. Chartered Accountants, Dhanbad M/s. V N Purohit & Co Durgapur West Bengal M/s. Ahsan Anil Negi & co. Chartered Accountants, Dhanbad M/s. Dutta P Kumar & Associates Chartered Accountants, Giridih M/s. N.C. Mitra & Co. Chartered Accountants, Dhanbad M/s. Mitra Roy & Dutta Chartered Accountants, Dhanbad M/s S A K S & Co. Chartered Accountants, Dhanbad 5 BHARAT COKING COAL LIMITED (A Miniratna Company) List of Internal Auditors along with Area/ Units Sr. No Name of the Audit Firms Area(s)/ Units Allocated 1. M/s. Bandyopadhyay & Dutt Head Quarter including all offices housed in Koyla Nagar and its units and lead auditor of BCCL. 2. M/s Ghosh & Associates Barora Area 3. M/s Karm & Co. Block II Area 4. M/s Konar Mustaphi & Associates Govindpur Area 5. M/s A. C. Dutta & Co. Katras Area 6. M/s K. Pandeya & Co. Sijua Area 7. M/s Anil Mihir & Associates Kusunda Area 8. M/S R. C. Agarwal & Co. P B Area 9. M/s S. Sarkar & Associates Bastacolla Area 10. M/s B. Rattan & Associates Lodna Area 11. M/s P S Roy & Associates Eastern Jharia Area 12. M/s D. C. Garg & Co. Chanch Victoria Area 13. M/s K. K. Chanani & Associates Western Jharia Area 14. M/s Sudip Ghosh & Associates Washery Division (including Eastern Washery Zone & Western Washery Zone) Cost Auditors S G & Associates, Kolkata Typsgo & Co., Ranchi M.G & Associates, Burnpur Thakur & Co., Kolkata Basu, Banerjee, Chakraborty & Co., Hoogly J.P. & Co., Kolkata SDK & Associates, Kolkata ABK & Associates, Mumbai ATM & Associates, Kolkata Vijender Sharma & Co., Kolkata Secretarial Auditor M/s. S. Khandelwal & Co. New Delhi Company Secretaries 6 MANAGEMENT AS ON 13th July, 2018 CHAIRMAN-CUM-MANAGING DIRECTOR Shri Ajay Kumar Singh WHOLE TIME DIRECTORS Shri K.S. Rajashekar Shri D. Gangopadhyay Shri N.K. Tripathi Shri R.S. Mahapatra Director (Finance) Director (Technical) Director (Technical) Director (Personnel) PART TIME DIRECTORS Shri Binay Dayal Shri N.K. Sudhansu Director (T), CIL, Kolkata Joint Secretary, Ministry of Coal, Govt. Nominee INDEPENDENT DIRECTORS Dr. A.K. Lomas Dr. H.S. Yadav Shri B.P. Das Dr. K.S. Khobragade COMPANY SECRETARY Shri B.K. Parui 7 CHAIRMAN'S STATEMENT Friends, It gives me immense pleasure in welcoming you to the 47th Annual General Meeting of Bharat Coking Coal Limited. The Report of the Directors, Audited accounts for the year 2017-18 combined with the report of the Statutory Auditors, Secretarial Auditor and the report and Review of the Comptroller and Auditor general of India are already circulated to you. With your permission, I take them as read. 1. OVERVIEW OF BCCL PERFORMANCE IN 2017-18 In spite of several constraints, our Company has been able to achieve coal production of 32.61 Mte while the Coal Off-take during the year was 33.36 Mte during the year. The overburden removal during the financial year 2017-18 was 110.47 MCuM. Similarly, the productivity in terms of Output per Manshift (OMS) was 3.56 Te. The company achieved a net sales of ₹7580.15 cr. during 2017-18 against ₹8622.36 cr. in 2016-17. During 2017-18, the company could achieve a record realization of ₹12056.97 crores against ₹11300.80 crores in 2016-17. 2. PROJECT PROFILE As you all are aware that BCCL is first subsidiary of Coal India that has inaugurated two new washeries viz., 1.6 Mtpa Dahibari Washery and 5.0Mty Patherdih Washery under BOM concept out of 07 (seven) new Coking Coal Washeries to be set up by BCCL. With future outlook in mind, the company is committed to enhance its production level and meet the coal requirement of the country to meet the country's energy need and in this direction, the Ministry of Coal, GoI has approved allotment of 4(four) coal blocks viz., (i) Pirpainti Barahat, (ii) Mandar Parvat; (iii) Dhulia North; and (iv) Mirzagaon in favour of BCCL. The company is also venturing into exploitation Coal Mines Methane (CMM) from Jharia CMM/CBM Block, Jharia Coalfield (under Coal Mining Leasehold of BCCL) with assistance of CMPDIL and this will go a long way in opening up the untapped sources of energy and thereby generating sources of revenue for the company. 3. ACHIEVEMENTS IN ECOLOGY AND ENVIRONMENTAL AREA As in the past, BCCL continued to maintain its supremacy in environmental front. BCCL is the pioneer company in the coal industry, rather in the whole mining industry to formulate the cluster concept for EIA-EMP preparation and grant of Environmental clearances. BCCL has been promoting eco-mining tourism to its eco-restoration sites and its mine by organizing the excursion visits of the various schools of Dhanbad which have been well appreciated by the people across the society. The achievement of company in transforming the mined out degraded land through the ecological restoration has been well appreciated at different forums. In order to improve visibility of BCCL in the environmental front, various environmental management activities of BCCL are displayed in the website of BCCL. 4. SAFETY MEASURES In order to achieve 'Zero Harm' in mines, workshop of safety in different areas of the company would go a long way in improving the safety standards of the company. With increase safety awareness measures and sustained effort made by our company, safety performance has improved significantly over the last three years. 5. PRODUCT AND SERVICE QUALITY Your company has been constantly striving to ensure quality across its entire value chain so that customer satisfaction is maintained at all cost. Various actions have been taken for improvement in quality and consumer satisfaction, such as observation of quality awareness week, sensitization of concerned officials for their duty to ensure quality coal supply to consumer, maintaining separate stock pile for fiery & non-fiery coal, gradation of seams/collieries for fire & non-fire zone coal separately etc.