| Lignite Mining | Extraction and supply of lignite for power generation and market sales; overburden management and M-Sand production. | Government ownership, captive lignite mines, technology in blast-free mining, regulatory approvals and long operational history. | Thermal power plants, industrial users, government utilities; primarily B2B. | Direct lignite sales and by-product M-Sand production. | 7233 | 32 | Sale of mined lignite to captive and market customers; consultancy and by-product sales. | Contract and market-based sales; mostly fixed long-term contracts for captive supply. | Increased production capacity, mining expansion projects, demand for fuel security. | Neyveli Lignite Mines, Barsingsar Lignite Mine, Mine IA |
| Power Generation | Generation of thermal power from lignite and coal; renewable solar and wind power production. | Access to captive lignite and coal mines, government backing, technological upgrades, diversified power mix and multiple long-term PPAs. | State utilities, distribution companies, governmental agencies; primarily B2G. | Renewable energy segments and supercritical thermal units. | 13468 | 68 | Sale of electricity through power purchase agreements and power trading. | Fixed and variable tariffs regulated by CERC and state regulators; power trading revenues. | Commissioning of new thermal units, expansion of renewable portfolio, favorable power demand and policy environment. | Thermal Power Stations I and II, Barsingsar TPS, NLC Tamil Nadu Power Limited (NTPL), Neyveli Uttar Pradesh Power Limited (NUPPL) |
