Stock Report

Coal India's supplies to power plants up 16% amid soaring generation

Posted On : 2022-05-02 12:34:08( TIMEZONE : IST )

Coal India Limited (CIL) posted 15.6 percent growth in its supplies to the power sector in April'22 compared to same month last year.

With the intense demand for coal continuing unabated driven by an upward spiral in the electricity generation CIL pushed up its supplies to power plants of the country to 49.7 million tonnes (MTs) in April'22. This is 6.7 MTs more supply compared to April'21 when the power sector's despatch was 43 MTs.

On an average CIL supplied 1.66 MTs of coal per day to power utilities in April'22 which sped to 1.73 MTs during the last week. Average supply per day is at par with what was programmed by CIL for this sector during the first quarter of FY'23.

To keep up with the increased appetite for coal, CIL accelerated its production to 53.5 MTs, logging a strong 27.6 percent growth. This is 11.6 MTs higher compared to 41.9 MTs of April'21. All the subsidiaries of CIL have registered year-on-year growth.

MCL, SECL, NCL and WCL have significantly raised the production in April'22. With higher output CIL would is aiming to increase its despatches further, especially to power plants in the coming months.

Coal output of April'22 was the highest ever for the month, so far, eclipsing the previous peak of 45.3 MTs achieved in April'19.

CIL's total off-take has risen sharply to 57.5 MTs in April'22 logging 6 percent growth compared to 54.2 MTs of same month last year. The off-take was 4 MTs more than the output of the month.

Importantly, CIL registered 16% growth in its over burden removal (OBR). The company excavated 132.8 million cubic metres of OBR during the month registering 16% growth. The same was 114.6 M.Cu.M in April'21. OBR is an important performance criterion that removes the topsoil in opencast mining and exposes the coal seam for faster extraction of coal in future. it also improves the mine geometry and makes mines safer to operate.

Shares of Coal India Limited was last trading in BSE at Rs. 183.10 as compared to the previous close of Rs. 190.30. The total number of shares traded during the day was 914035 in over 10930 trades.

The stock hit an intraday high of Rs. 192.70 and intraday low of 182.00. The net turnover during the day was Rs. 170393603.00.