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Stock Report
CIL output up 11.5% to 460 MT till Nov' FY 2024
Posted On : 2023-12-01 18:58:36( TIMEZONE : IST )
Sustaining the brisk output pace Coal India Limited (CIL) produced 460 million tonnes (MTs) of coal till November of the ongoing financial year. With 11.5% year-onyear growth CIL stayed ahead of the annual asking rate of 10.2%. The production saw an upsurge of 47.4 MTs in quantum terms compared to 412.5 MTs of same period last year.
All the seven coal producing subsidiaries of CIL have registered growth with two of them - BCCL and NCL achieving their respective progressive targets.
Coal output for the month of November 2023 at 66 MTs posted a growth of 8.7% over 60.7 MTs of November 2022 with 5.3 MTs increase.
Production from CIL's top 35 mines, each having 5 MT/Year capacity and more, accounted for around 75% of the total output during April-November 2023 at 344 MTs. This is in sync with the expected contribution of these high yielding mines which CIL closely monitors.
CIL's total supplies shot up by 39 MTs in quantum terms to 485.4 MTs during the eight month period ending November FY 2024 with 8.7% growth. Supplies were 446.4 MTs during the corresponding period FY 2023.
For the month of November 2023 coal off-take of 63 MTs was higher by 2.3 MTs compared to 60.7 MTs of November 2022.
Supplies to power sector at 398.7 MTs were18 MTs more ending November FY 2024 posting 4.7% growth even amidst the surge in power demand. During AprilNovember last fiscal supplies to this sector were 380.8 MTs.
CIL feels confident of breaching the demand projection of 610 MTs placed on it by the Ministry of Power for the current fiscal.
In a challenge, during remaining four months of FY 2024 CIL has to grow over the high base of penultimate four months of previous financial year. All the efforts are on in this direction.
Year to date coal stock at CIL's pitheads is at 45 MTs, which is around 58% more compared to 28.5 MTs of same period last year.
Shares of Coal India Limited was last trading in BSE at Rs. 346.55 as compared to the previous close of Rs. 342.25. The total number of shares traded during the day was 1825151 in over 23497 trades.
The stock hit an intraday high of Rs. 350.95 and intraday low of 342.00. The net turnover during the day was Rs. 632507979.00.
