India: CIL produced 5% less Coal than target during Apr’13-Feb’14

Coal India Limited (CIL), a state owned Coal miner has missed its production target by around 2.9 MnT as reported by the company.

CIL produced around 42.6 MnT of Coal during February against its target of 45.4 MnT. CIL also missed its offtake target by 2.5 MnT. Company recorded around 40.5 MnT of Coal supply in February which was targeted to around 43 MnT.

During February, CIL’s major subsidiary BCCL that produces Coking Coal has achieved around 113% of its target and produced around 2.9 MnT Coal. Whereas, another major subsidiary, CCL has dropped its production by around 81% from its target and produced around 4.9 MnT of Coal against 6.16 MnT target.

During the first 11 months of fiscal year, CIL has achieved 95% of its production target and produced total around 409 MnT Coal, while its target for the same period was 429.3 MnT. However, in comparison to same period of last fiscal year, its production has grown by 2.8 MnT.

CIL’s achieved around 96% (426.4 MnT) Coal offtake target for Apr’13- Feb’14, while its target was 444.2 MnT. In comparison to previous year its offtake increased by 1.7% in same period.

CIL has production target of around 482 MnT and around 492 MnT Coal offtake target during FY14.