Friday, May 13, 2022

CIL records 64.3 MT coal production in Feb, expects to close FY22 with highest-ever output

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  • CIL’s coal offtake in February has scored a strong 12 percent double-digit growth at 57.4 MT against the same month last year
  • CIL’s subsidiaries are pushing hard to scale up the coal production and offtake

New Delhi: Stepping up its output tempo, Coal India Limited (CIL) has produced 64.3 million tonnes (MT) of coal in February, which is higher by 2.4 MT in comparison to 61.9 MT recorded in the corresponding month a year ago. Month-on-month, CIL’s average coal production increased to 2.3 MT per day in February, said CIL in a statement on Tuesday. So, despite February being a shorter month than January, the sequential production in February was at par with the previous month. CIL’s all out efforts are focused on ending FY22 in the realm of 630 MT, the statement added. 

CIL’s coal production at 542.4 MT during April-February period of FY22 was a historic high for this period. Coal output surged ahead by 27.3 MT in absolute terms on a year-on-year comparison.

CIL expects to close FY22 with highest-ever coal production

“The company expects to post the highest-ever production by the closure of FY22, going past the previous high of 607 MT recorded in FY19,” said a senior executive of the company. CIL’s coal offtake in February has scored a strong 12 percent double-digit growth at 57.4 MT against the same month last year. The gain in absolute terms was 6.2 MT. 

Progressive till February FY22, CIL’s total offtake was nearly 600 MT. Only once earlier, the offtake has crossed that mark when CIL despatched 608 MT in FY19, which is the highest to date. What makes the feat important is that CIL has touched the milestone a full month ahead of the fiscal’s end. The company is poised to record a new high in its despatch in the current fiscal.

With sizeable volume increase of 85.8 MT over 514 MT over the same period last year, CIL’s coal offtake growth during April-February was 16.7 percent. 

CIL subsidiaries pushing to scale up coal production, offtake

CIL’s subsidiaries are pushing hard to scale up the production and offtake. MCL, in a first, has reached 150-MT production mark on February 27. The pace is moving into a higher pitch with the past records being outdone. 

CIL has been able to liquidate its stock to the tune of 56.7 MT till February, the highest stock liquidation in any year so far. Coal inventory at CIL’s pitheads was 42.5 MT by February-end, which at the beginning of the fiscal was 99 MT.

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