Coal India Limited achieves 11.5% YoY growth with 460MT coal production
Coal India Limited (CIL), maintaining a brisk output pace, has reported an impressive production of 460 million tonnes (MTs) of coal till November of the ongoing financial year. This production reflects an 11.5% year-on-year growth, surpassing the annual asking rate of 10.2%.
Substantial Increase in Coal Output
This year’s production saw an increase of 47.4 MTs compared to the same period last year, which stood at 412.5 MTs. Notably, all seven coal-producing subsidiaries of CIL have registered growth, with BCCL and NCL achieving their respective progressive targets.
Monthly and Cumulative Production Highlights
For November 2023 alone, CIL recorded a coal output of 66 MTs, an 8.7% increase over the 60.7 MTs produced in November 2022. The company’s top 35 mines, each with a capacity of 5 MT/Year or more, contributed around 75% of the total output during April-November 2023, amounting to 344 MTs.
Robust Growth for Coal India Limited with 460 MT Production in Current Fiscal Year
Boost in Total Supplies and Power Sector Deliveries
CIL’s total supplies jumped by 39 MTs to 485.4 MTs during the eight-month period ending November FY 2024, marking an 8.7% growth. In comparison, supplies were 446.4 MTs during the corresponding period of FY 2023. Coal off-take for November 2023 was 63 MTs, higher than the 60.7 MTs in November 2022. Supplies to the power sector stood at 398.7 MTs, an increase of 18 MTs and a growth of 4.7%.
Confidence in Meeting Demand Projections
Amidst a surge in power demand, CIL is confident of surpassing the 610 MT demand projection placed on it by the Ministry of Power for the current fiscal year. The company is focused on overcoming challenges in the remaining months of FY 2024, aiming to exceed the high base set in the previous financial year.
Increased Coal Stock at CIL’s Pitheads
Year to date, coal stock at CIL’s pitheads is approximately 45 MTs, a significant increase of around 58% compared to the 28.5 MTs during the same period last year.
Coal India Limited’s performance in coal production and supply highlights its crucial role in the energy sector, particularly in meeting the growing demands of the power industry.