Coal India ups output 20% in H1 FY23, surpasses offtake target

Maintaining the double digit growth streak, state-run Coal India Ltd (CIL) closed the first half of the current fiscal producing 299 MT
Coal India Ltd (CIL)
Coal India Ltd (CIL)

Kolkata: Maintaining the double digit growth streak in production, beginning FY23, Coal India Limited (CIL) closed the first half of the current fiscal producing 299 Million Tonnes (MT), said an official statement on Saturday. "This is a sharp upward swing of 49 MT, the highest incremental growth for any period. Compared to 250 MT of H1 last year, the growth was 19.7 percent. All CIL's subsidiaries recorded growth, with BCCL topping at 31.3 percent," said the statement.

Achieving nearly 43 percent of the fiscal's 700 MT production target in six months, CIL is aiming to close on the rest in the second half. Customarily, CIL's H2 production yield is much higher than the H1.

Coal India surpasses offtake target in H1 FY23

The coal major's total coal off-take at 332 MT in April-September'22 surpassed the target, with the achievement coming to 101.7 percent. CIL supplied 24 MT more coal compared to 308 MT during the same period last year at a growth of 7.8 percent.

Coal supplies to power plants, buoyed by increased production and higher loading, have risen sharply to 285.5 MT in H1 FY23. The year-on-year jump is 41 MT, logging a 16.8 percent growth. CIL's supplies stood at 244.5 MT in H1 FY22.

Loading to power sector up by 56.5 rakes per day

On an average, loading to power sector was up by 56.5 rakes per day from CIL's sidings, goods sheds and private washeries during April-September'22. The total loading to thermal plants at 300 rakes per day posted 23.2 percent growth against 243.5 rakes during the same period last year. Of this, loading from CIL's sidings was 85 percent or 254.3 rakes.

Dispelling coal shortage apprehension during the festive season, Coal India said that there is sufficient coal stock at CIL's pitheads and at power plants.

As of September-end (till September 29), coal inventory at domestic coal-based plants stood at 24 MT, with bulk of the stock boosted by CIL's supplies. The stock is up at least 2.4-fold compared to 10 MT of September'21 when a sudden spike in generation pushed up the coal demand. Ending September, CIL's pitheads have a stockpile close to 28 MT.

"Now adequate coal stocks are within reach. Production also increases from October onwards. There is no cause for shortage apprehension," said a senior official.

CIL's output for September'22 at 45.7 MT witnessed 12.3 percent growth. An increase in absolute terms is 5 MT compared to 40.7 MT of the same month last year. Supply to the power sector in September rose to 42 MT compared to 39.3 MT, registering 7 percent growth.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

PSU Watch