Coal India Limited’s (CIL) production and supply data for Nov’16 shows a marked departure from the preceding months. During the month, CIL saw dispatches improving after prolonged fall.
Barring Western Coalfields Limited (WCL), all subsidiaries of CIL recorded improvement in dispatches during the month. Eastern Coalfields Limited (ECL) was the highest performer with 27.4% year-on-year growth; followed by Central Coalfields Limited (CCL) and Northern Coalfields Limited (NCL), with the respective improvements of 11.6% and 10.9% respectively, on year-on-year basis.
A month-on-month assessment reveals that all the major CIL subsidiaries recorded improvement in dispatches, with CCL, WCL and ECL exhibiting improvements of 25.9%, 24.6% and 14.1% respectively.
The salient features of CIL’s performance in Nov’16 are:
• Dispatch stood at 48.2 MnT (+6.2% year-on-year, +11.9% month-on-month). CIL had attained 97% of the target for the month.
• Production during the month was at 50 MnT(+5.3% year-on-year, +14.9 month-on-month), which was 93% of the target for the month.
• YTDFY17 dispatch was at 340.4 MnT(-0.2% year-on-year). CIL had managed to achieve 89% of the target of 381.55 MnT for the period.
• YTDFY17 production stood at 323.6 MnT, which was 90% of the target of 360.84 MnT.
In the context of the almost flat YTDFY17 dispatch, an Analyst in a reputed stock broking house told CoalMint that assuming flat YTD growth for the rest of the months in the current fiscal, CIL could be expected to end up at around 535 MnT of dispatch against the estimate of 560 MnT for the fiscal. He further commented that lower off-take by power plants had restricted CIL from implementing any major price hike, despite sharp rise in global coal prices.
| PRODUCTION | Nov’17 | Nov’16 | Oct’17 | % YoY | % MoM | YTDFY17 | YTDFY16 | % YoY |
| ECL | 4.34 | 3.85 | 3.54 | 12.70% | 22.60% | 23.93 | 21.77 | 9.90% |
| BCCL | 3.01 | 2.85 | 2.89 | 5.60% | 4.20% | 22.51 | 22.35 | 0.70% |
| CCL | 6.01 | 5.94 | 4.48 | 1.20% | 34.20% | 34.14 | 35.55 | -4.00% |
| NCL | 7.66 | 6.78 | 6.37 | 13.00% | 20.30% | 50.65 | 48.92 | 3.50% |
| WCL | 4.49 | 3.9 | 3.48 | 15.10% | 29.00% | 21.96 | 25.84 | -15.00% |
| SECL | 12.65 | 12.06 | 11.85 | 4.90% | 6.80% | 83.76 | 83.3 | 0.60% |
| MCL | 11.79 | 12.08 | 10.88 | -2.40% | 8.40% | 86.47 | 83.52 | 3.50% |
| NEC | 0.05 | 0.03 | 0.03 | 92.90% | 74.20% | 0.18 | 0.15 | 19.30% |
| CIL(Total) | 50 | 47.49 | 43.52 | 5.30% | 14.90% | 323.6 | 321.4 | 0.70% |
Source: CIL
| OFF-TAKE | Nov’17 | Nov’16 | Oct’17 | % YoY | % MoM | YTDFY17 | YTDFY16 | % YoY |
| ECL | 4.04 | 3.18 | 3.54 | 27.00% | 14.10% | 27.36 | 23.38 | 17.00% |
| BCCL | 3.03 | 2.91 | 2.76 | 4.10% | 9.80% | 22.16 | 23.59 | -6.10% |
| CCL | 5.78 | 5.18 | 4.59 | 11.60% | 25.90% | 36.16 | 39.1 | -7.50% |
| NCL | 7.45 | 6.72 | 6.5 | 10.90% | 14.60% | 52.13 | 49.94 | 4.40% |
| WCL | 3.55 | 3.61 | 2.85 | -1.70% | 24.60% | 23 | 27.62 | -16.70% |
| SECL | 12.19 | 11.86 | 11.36 | 2.80% | 7.30% | 85.99 | 88.47 | -2.80% |
| MCL | 12.04 | 11.85 | 11.34 | 1.60% | 6.20% | 93.07 | 88.84 | 4.80% |
| NEC | 0.09 | 0.03 | 0.11 | 200.00% | -18.20% | 0.49 | 0.19 | 157.90% |
| CIL(Total) | 48.17 | 45.34 | 43.05 | 6.20% | 11.90% | 340.36 | 341.13 | -0.20% |
Source: CIL
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