CIL's production grows 10% to 773.6 MTs in FY 2024; Offtake up 8.5%

Coal India Limited (CIL) produced 773.6 million tonnes (MTs) of coal in FY 2024 registering 10% growth over a high base of 703.2 MTs of FY 2023. This is the first instance that the company recorded double digit growth in two successive years since its inception. In volume terms the output expanded by 70.4 MTs the second ever high.

In previous two financial years CIL has increased its production by 151 MTs. This was higher by 22.6 MTs than the combined increase of 128.4 MTs achieved in six years from FY 2016 till FY 2022. Coal production of 88.6 MTs in March 2024 was the highest ever for any month till date.

While all the coal producing arms of CIL have recorded positive growth, five of them BCCL, CCL, NCL, WCL and MCL have stepped over their respective annual targets for the second consecutive year. Mahanadi Coalfields Limited, the Odisha based CIL subsidiary has emerged as the country's first coal producing company to have breached 200 MT with production at 206.1 MTs.

Total coal supplies have hit 753.5 MTs during FY 2024 logging 8.5% growth. The 58.8 MT volume increase came over 694.7 MTs of FY 2023.

Supplies to power sector have reached 618.5 MTs in the just concluded fiscal, 31.9 MTs more compared to 586.6 MTs of FY 2023 with a growth of 5.4%. CIL supplied 8.5 MTs more coal to power plants than its assigned commitment of the year, that is, 610 MTs.

Concurrently, supplies to non-power sector (NPS) have risen to 135 MTs with a year-onyear jump of 26.9 MTs registering around 25% growth. CIL supplied 108.1 MTs to NPS in FY 2023.

On the back of better quality coal supplies, grade conformity improved to 76% during FY 2024 from 70% over preceding year.

CIL ended FY 2024 with a coal inventory of around 90 MTs which is 20.7 MTs more than the same period last financial year - a near 30% increase. Stock at CIL's pitheads was 69.3 MTs corresponding period last fiscal.

On an average CIL loaded 292.2 rakes per day during FY 2024 against 273.6 rakes/day of FY 2023 registering a growth of 6.8%. One rake load of coal is approximately 4000 tons.

CIL's production and off-take are pegged at 838 MTs for FY 2025.

Shares of Coal India Limited was last trading in BSE at Rs. 433.75 as compared to the previous close of Rs. 430.75. The total number of shares traded during the day was 396193 in over 7209 trades.

The stock hit an intraday high of Rs. 438.40 and intraday low of 430.40. The net turnover during the day was Rs. 172217252.00.

Source : Equity Bulls

Keywords

CoalIndia INE522F01014 CoalProduction Dispatches FY2024