Hyderabad: Singareni Collieries recorded a sharp decline in annual profits, falling to ₹1,754 crore in 2025-26 from ₹6,394 crore in 2024-25. The ₹4,640 crore drop represented a decline of 72.6%, marking the company’s lowest annual profit in four years, according to the figures provided.
The company’s profits had risen steadily in the preceding two financial years. Singareni earned ₹2,022 crore in 2022-23 before increasing its profit to ₹4,712 crore in 2023-24.
In 2024-25, profits climbed by another ₹1,682 crore to reach ₹6,394 crore. However, the latest figures showed a steep reversal, with earnings falling substantially despite a reported increase in output.
The source reported that output had risen from 6.39 tonnes to 7.56 tonnes, although the exact production measure was unclear. Despite this increase, Singareni profits fall sharply in the latest financial year, raising concerns about the company’s financial performance.
The report also alleged that Singareni’s annual turnover had declined from around ₹37,000 crore to ₹30,000 crore. It attributed the downturn to mounting outstanding payments, operational difficulties and decisions affecting contractors.
Singareni profits fall amid mounting dues and financial concerns
The report alleged that mandatory site visit certificates discouraged contractors and affected the company’s operations. It also claimed that coal worth more than ₹1,600 crore, amounting to 40 lakh tonnes, had been wasted. These allegations were presented without supporting documentation in the supplied material.
According to the report, Singareni’s outstanding dues had accumulated to ₹33,000 crore over 33 months, with liabilities reportedly increasing by ₹1,000 crore each month. It further claimed that the company had resorted to bank overdrafts and monthly borrowing to pay employee salaries.
The report also stated that dues owed by Genco and Transco to Singareni had reached ₹59,000 crore. It alleged that the two companies had not made payments during the preceding two and a half years.
Additionally, the article accused the state government of diverting company funds. It alleged that ₹100 crore had been used for football-related benefits and another ₹480 crore had been diverted to Young India Gurukuls. The supplied material did not provide independent evidence or official responses to these claims.
The report further raised allegations concerning overburden (OB) tenders and detonator procurement. Trade unions reportedly claimed that detonators had been purchased at an additional ₹300 per unit, alleging that commissions were involved.
Concerns were also raised about Rajasthan power projects and an 800 MW joint venture. The report claimed that solar plants remained unused because power purchase agreements had not been signed.
It also alleged that inadequate heavy machinery and shortages of spare parts had affected coal extraction at open-cast mines. The material did not include production records or responses from Singareni management to substantiate these claims.
Singareni profits over four years
| Financial year | Profit |
| ————– | ———— |
| 2022-23 | ₹2,022 crore |
| 2023-24 | ₹4,712 crore |
| 2024-25 | ₹6,394 crore |
| 2025-26 | ₹1,754 crore |
The figures show that Singareni’s profits peaked in 2024-25 before dropping sharply in 2025-26. The supplied report attributed the decline to financial and operational issues, alongside allegations against the state government and company-related activities.