Coal India Limited records strong 11.3% YoY growth in coal production
Coal India Limited (CIL) has achieved a remarkable milestone by producing approximately 333 million tonnes (MTs) of coal in the first half of the current financial year, demonstrating a robust 11.3% year-on-year growth. This achievement marks a substantial increase of nearly 34 MTs when compared to the same period in FY 2023. Notably, all of CIL’s producing subsidiaries have contributed to this impressive growth.
In the month of September 2023 alone, CIL’s coal production soared to 51.4 MTs, representing a substantial 5.8 MTs surge or a remarkable 12.6% growth compared to the production of 45.7 MTs in the same month last year.
Despite surging power demands in the past two months, CIL has managed to bolster its supplies to the power sector, culminating in a total of 294.8 million tonnes (MTs) by the end of the first half of FY 2024. This exceeds the projected demand of 293 MTs for this period by 1.8 MTs, showcasing a notable volume increase of 9.7 MTs or an impressive 3.4% growth when compared to the same period last fiscal year. However, logistical challenges and limited consumer intake have somewhat constrained this growth potential.
A senior official from CIL stated, “We were given a supply target of 610 MTs to the power sector for the entire FY 2024, which is approximately 4% higher than the record level of 586.6 MTs supplied in FY 2023. We have already met the prorated demand of coal-fired plants until September end and are confident of meeting the annual demand as well.”
In total, CIL’s supplies have surged to an impressive 360.7 MTs during the first half of FY 2024, marking a substantial increase of 28.6 MTs and a remarkable growth rate of 8.6% when compared to the 332 MTs recorded during the same period in the previous fiscal year. Furthermore, the month of September 2023 witnessed an outstanding 12.6% growth, with coal supplies reaching 55 MTs, an increase of 6.1 MTs compared to the same month in the previous year.
After successfully meeting the power sector’s demands, CIL has significantly boosted its supplies to the non-power sector, reaching a peak of 65.7 MTs during the first six months of FY 2024, marking an impressive 40% growth. This increase amounts to nearly 19 MTs when compared to the 46.8 MTs supplied during the first half of FY 2023.
As of the end of September FY 2024, the coal stock at CIL’s pitheads stands at an impressive 41.6 MTs, underscoring CIL’s commitment to maintaining a steady and robust supply of coal to meet the nation’s energy needs.