Based on officials, Coal India Ltd's capital expenditure increased by 8.5% from April to July this fiscal year to Rs 4,700 crore as the company continued to invest heavily in evacuation infrastructure, land, and mining machinery. The capex spend during the first four months of the current fiscal year, which began in April, was nearly 100% of the target of Rs 4,754 crore and 28.33% of the annual target of Rs 16,600 crore (for fiscal 2023-24), they said.

Typically, capex begins slowly in the first quarter, with the company laying out its expenditure plans at the start of the fiscal year, and gradually increases in subsequent quarters.

The 8.5 percent capex growth in April-July FY24 was notable because it came from a high base of Rs 4,332 crore in the same period in FY2023, when CIL's capex peaked at an all-time high of Rs 18,619 crore.

"At a time when the government has directed central public sector units to increase capital expenditure for economic revival, CIL has increased capex by threefold (197%) in three years." "Capex increased sharply from Rs 6,270 crore in FY 2020 to Rs 18,619 crore in FY 2023 (April 2022 to March 2023)," said a senior official of the world's largest coal miner.