NEW DELHI: Coal India Limited (CIL), India’s largest coal producer, witnessed a growth of 13.4 per cent to 53.6 MTs compared to the same period last year.
The company produced 47.3 MTs of coal in July 2022. Coal India said it is very well on target to achieve annual production as it has produced 229.1 MTs until July 23.
It is up by 10.7 per cent compared to the 207 MTs produced from April to July 2022. CIL’s chase of 780 MTs production in FY 2024 began with an asking growth rate of 10.9 per cent over the 703 MTs that the company produced in FY 2023.
"All our subsidiaries have registered growth over the previous FY with SECL coming back strongly with a 10 MT production increase. BCCL, NCL, WCL and SECL have sailed past their respective targets progressively till July 2023" said a senior official of the company.
The miner’s total supplies peaked at 58.3 MTs on July 23 posting a strong 7.2 per cent growth over 54.4 MTs on July 22. Its total supplies during April-July 2023 to all-consuming sectors were up to 244.5 MTs clocking 5.7 per cent growth over a high base of 231.2 MTs of the same period last fiscal.
Supplies on a year-on-year basis have witnessed 13.3 MTs expansion during the first four months of the financial year in reference. The company continues to pump higher volumes of coal to the non-power sector (NPS), which at 11.7 MTs in July 2023 grew by a robust 59 per cent.
It supplied 7.4 MTs to the non-power sector in July 2022. Supplies to NPS in April-July 23 grew by a strong 40 per cent to 45.2 MTs compared to 32.2 MTs in the same period last year. The company said with supplies to the power sector stabilized and no pressure of criticality at plants the company could meet the demand of the NPS sector.
CIL supplied 201.5 MTs to the coal-fired plants of the country till July 2023 with a comparative growth of 1per cent. Providing a comfortable buffer to domestic coal-based plants, coal stocks at their end stood at 33 MTs as of July end.
The coal inventory at CIL’s end is 53 MTs. All-time high removal of overburden gives CIL a leg up for future production, which at 641 Million Cubic Metres, has achieved 111 per cent target satisfaction with 29.3 per cent year-on-year growth.