Coal India logs 15.3% supply growth in August'23, output rises 13.2%

Sustaining its production pace, Coal India Limited (CIL) produced 52.3 million tonnes (MTs) of coal in August 2023 registering a strong 13.2% over 46.2 MTs of August 2022. Comparative production for the month surged ahead by 6.1 MTs.

Staying on course with the annual asking growth of 11%, till August FY 2024, the state owned coal miner produced 281.5 MTs posting 11.1% year-on-year growth. The volume expansion in production was 28.2 MTs during the first five months of FY 2024 compared to 253.3 MTs during the same period FY 2023.

Total coal supplies to all consuming sectors shot up to 59 MTs in August 2023 reflecting a strong double digit growth of 15.3% compared to 51.2 MTs of same month last fiscal. Supplies were up nearly 8 MTs in a single month.

During April-August 2023 total coal off-take rose to 305.5 MTs with around 8% growth with a 22.4 MT gain over same period last year, when the off-take was 283.1 MTs.

CIL continued to pump higher quantities of coal to non-power sector (NPS) as supplies to them recorded a robust 61% growth at12.1 MTs in August 2023. This was a jump of 4.6 MTs compared to 7.5 MTs in August 2023.

Progressive till August FY 2024 supplies to NPS grew by 43.4% to 56.8 MTs. This represents an increase of 17.2 MTs in the first five month period of FY 2024 compared to 39.6 MTs of same period previous fiscal.

Not only CIL is meeting the strong demand of NPS currently, the company is also liquidating the backlog.

CIL's supplies to power sector at nearly 47 MTs increased by 3.4 MTs in August 2023. The growth was nearly 8% compared to 43.6 MTs of same month last year.

CIL's supplies to power sector during August 2023 were higher than committed quantity. Against the commitment of 1.44 MTs per day the company supplied 1.515 MTs per day.

During April-August 2023, the coal fired plants of the country received 248.7 MTs of coal from CIL sources posting a 2% comparative growth. Supplies to power sector were 243.5 MTs in April-August 2023.

Coal inventory at CIL's pitheads stood at a comfortable 45.3 MTs as of 31 August, higher by 46% compared to 31 MTs of coal stock same date last year. This helps in meeting any sudden demand upsurge from power sector.

Shares of Coal India Limited was last trading in BSE at Rs. 230.10 as compared to the previous close of Rs. 228.75. The total number of shares traded during the day was 341563 in over 5666 trades.

The stock hit an intraday high of Rs. 230.45 and intraday low of 228.35. The net turnover during the day was Rs. 78518346.00.

Source : Equity Bulls

Keywords

CoalIndia INE522F01014 August2023 Production output