Coal India Limited achieves record coal production in FY 2024
Coal India Limited (CIL), the largest coal-producing company globally, has set a new benchmark in its operational history by recording a remarkable double-digit growth in coal production for the second consecutive year in FY 2024. Achieving a significant milestone, CIL produced 773.6 million tonnes (MTs) of coal, marking a 10% growth over the previous fiscal year’s production of 703.2 MTs. This surge in production represents an increase of 70.4 MTs, showcasing CIL’s operational efficiency and commitment to meeting the country’s energy demands.
The fiscal year 2024’s coal production growth is not only significant for its double-digit increase but also for the volume expansion, which stands as the second-highest ever recorded by the company. Over the last two financial years, CIL has boosted its production by 151 MTs, surpassing the combined increase of 128.4 MTs achieved in the six years from FY 2016 to FY 2022. Additionally, March 2024 saw CIL achieving its highest ever monthly production at 88.6 MTs.
Five of CIL’s coal-producing subsidiaries, namely BCCL, CCL, NCL, WCL, and MCL, have exceeded their respective annual targets for the second year in a row. Notably, Mahanadi Coalfields Limited, based in Odisha, has become the country’s first coal-producing company to exceed 200 MT, with a production of 206.1 MTs.
In terms of coal supplies, CIL reported an 8.5% growth, with total supplies reaching 753.5 MTs in FY 2024, up from 694.7 MTs in FY 2023. The power sector received 618.5 MTs, exceeding the assigned commitment of 610 MTs by 8.5 MTs, and marking a 5.4% increase from the previous year. Supplies to the non-power sector (NPS) saw a remarkable growth of about 25%, totaling 135 MTs, which is 26.9 MTs more than in FY 2023.
The quality of coal supplies has seen significant improvement, with grade conformity rising to 76% in FY 2024 from 70% in the previous year. This enhancement in quality underscores CIL’s commitment to providing better fuel to its consumers. Furthermore, CIL concluded FY 2024 with a coal inventory of around 90 MTs, marking a near 30% increase from the previous year and demonstrating the company’s readiness to meet future demand.
Operational efficiency has also seen a marked improvement, with an average of 292.2 rakes loaded per day during FY 2024, up from 273.6 rakes/day in FY 2023. This 6.8% growth in rake loading efficiency highlights CIL’s efforts to ensure timely and efficient coal deliveries to its customers.
Looking ahead, CIL has set an ambitious production and off-take target of 838 MTs for FY 2025, signaling its commitment to further growth and efficiency in operations.