Telangana state government has unveiled an unprecedented bonus package for Singareni Collieries workers, marking a significant milestone in the company’s history. This year’s bonus distribution highlights the company’s strong financial performance and commitment to employee welfare.

Key Highlights:

• Total bonus amount: Rs.796 crore

• Average bonus per worker: Rs.1.90 lakh

• Increase from last year: Rs.20,000

• First-ever bonus for contract workers: Rs.5,000 each

• Singareni’s profit for 2023-24: Rs.4,701 crore

• Bonus percentage: 33% of profits

Telangana Deputy Chief Minister Bhatti Vikramarka announced the bonus details, emphasizing Singareni’s status as a state-owned institution. The company’s workforce includes 41,837 permanent employees and approximately 25,000 contract workers.

Bonus History and Growth:

• First bonus introduced: 1999-2000

• Initial bonus amount: Rs.30 crore (10% of Rs.300 crore profit)

• Average bonus per worker in 1999-2000: Rs.2,782

• Steady increase over the years

• 2021-22 bonus: 30% of profits

• 2023-24 bonus: Record-breaking 33% of profits

This year’s bonus is the highest in Singareni’s history, with top-performing workers potentially receiving over Rs.2.5 lakh. The inclusion of contract workers in the bonus scheme marks a historic first for the company.

Singareni’s Journey to Profitability:

• 1990s: Company faced heavy losses

• Turnaround achieved through worker-management collaboration

• Consistent profits since 1999-2000

• Now recognized as a top-tier public sector organization in India

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-Sanyogita