New Delhi: State-owned miner Coal India Limited (CIL) on Monday informed stock exchanges that it has upgraded the pay scale of its executives up to the mid-level, a move that is expected to have a significant financial impact on the company’s books.
In a regulatory filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Coal India said the pay revision has been implemented notionally with effect from January 1, 2017, while the financial benefits will be payable from August 23, 2023.
According to the disclosure, the total estimated financial impact of the pay scale upgradation for the period up to December 31, 2026 is approximately ₹3,400 crore.
The decision applies to executives up to the mid-management level, and is part of a broader effort to align compensation structures with revised norms and industry benchmarks.
Coal India clarified that the disclosure is being made in compliance with regulatory requirements and is intended for the information of investors and stakeholders.
Shares of Coal India will be closely watched by market participants following the announcement, as investors assess the impact of higher employee costs on the company’s profitability and cash flows in the coming quarters.
Coal India Limited is listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) under Scrip Code 533278 and ISIN INE522F01014.