Coal India Limited reports 13.2% production surge in August 2023
In a notable upswing, Coal India Limited (CIL) disclosed robust figures for its coal production in August 2023, registering a remarkable 13.2% year-on-year increase. The state-owned coal giant produced a staggering 52.3 million tonnes (MTs) last month, showing an improvement of 6.1 MTs over the 46.2 MTs produced in August 2022.
Coal India Limited Year-on-Year Growth Hits 11.1%, Exceeding Annual Targets
Continuing its upward trajectory, Coal India Limited has not only met but exceeded its annual growth target of 11%. Cumulative production until August for the fiscal year 2024 reached 281.5 MTs, marking an 11.1% year-on-year growth. During the first five months of FY 2024, the volume expansion in production was an impressive 28.2 MTs, compared to 253.3 MTs in the same period of FY 2023.
Double-Digit Supply Growth to Consuming Sectors
Adding to its list of achievements, Coal India Limited reported that its total coal supplies to all consuming sectors soared to 59 MTs in August 2023. This reflects a strong double-digit growth of 15.3%, or an increase of nearly 8 MTs, compared to 51.2 MTs in the same month last fiscal year.
Significant 8% Increase in Total Coal Off-Take for Coal India Limited
The coal off-take between April and August 2023 displayed around 8% growth, reaching a total of 305.5 MTs. This marks a 22.4 MT gain over the same period last year, when the off-take was 283.1 MTs.
Record 61% Supply Growth to Non-Power Sector
One of the highlights in CIL’s recent data is the extraordinary 61% supply growth to the Non-Power Sector (NPS) in August 2023. Supplies to NPS touched 12.1 MTs last month, a robust increase of 4.6 MTs compared to 7.5 MTs in August 2022.
Supplies to NPS Show a Whopping 43.4% Increase
The data reveals that supplies to the Non-Power Sector from April to August 2023 saw a substantial rise of 43.4%, reaching 56.8 MTs. This represents an increase of 17.2 MTs over the 39.6 MTs in the same period of the previous fiscal year.
CIL Clears Backlog and Exceeds Power Sector Commitments
Coal India Limited is not just keeping pace with the robust demand from NPS, but it’s also effectively liquidating backlogs. Supplies to the power sector increased by nearly 8% in August 2023, with the company providing more than its committed quota of 1.44 MTs per day by supplying 1.515 MTs per day.
2% Growth in Supplies to Coal-Fired Plants
From April to August 2023, coal-fired plants in the country received 248.7 MTs of coal from Coal India Limited sources, posting a modest 2% year-on-year growth.
Comfortable Coal Inventory Ensures Supply Stability
Ending on a strong note, Coal India Limited’s pithead coal inventory stood at 45.3 MTs as of August 31, 2023. This figure is up 46% compared to the 31 MTs on the same date last year, ensuring that the company is well-positioned to meet any sudden surge in demand from the power sector.