Hyderabad: Singareni Collieries Company Limited (SCCL) will pay a 34 per cent profit share bonus for 2024-25, rewarding more than 71,000 employees. Chief Minister A. Revanth Reddy and Deputy Chief Minister Bhatti Vikramarka announced the decision on Monday at the Secretariat.
Bonus details for employees
Singareni earned a net profit of ₹6,394 crore during the year. Of this, ₹4,034 crore will go into expansion. From the balance of ₹2,360 crore, the company set aside ₹819 crore for bonuses. Around 41,000 permanent employees will each receive ₹1.95 lakh. Nearly 30,000 contract workers will get ₹5,500 each.
Government’s recognition of Singareni workers
Revanth Reddy said Singareni workers played a historic role in the state’s formation and continue to ensure profitability. “We will keep supporting the workers. A festival bonus will also be announced for Deepavali,” he promised. Furthermore, he stressed that the government would strengthen Singareni to compete with corporate entities.
Expansion beyond coal mining
Bhatti Vikramarka explained that the government is moving to reclaim coal blocks lost under the previous administration. He added that Singareni is diversifying into minerals such as copper and gold. Recently, the company won tenders in Karnataka for mining rights. Under the plan, operators of these mines will pay Singareni a 35 per cent royalty throughout the life of the mines.
In addition, he said global consulting firms PwC and KPMG will advise on Singareni’s growth. “We must treat Singareni like a nurturing mother that deserves to be valued and safeguarded,” he remarked.
