India’s largest coal miner, Coal India Ltd (CIL) has achieved its monthly coal production target for Sep’17, however, the company fell short of its half year production target for FY18 by 11.43 MnT.
CIL’s coal production stood 38.77 MnT in Sep’17, against the set target of 38.22 MnT for the month. Coal Production increased 3% M-o-M compared with 37.6 MnT in Aug’17. However, the company failed to achieve its half yearly target for FY18 (Apr’17-Sep’17), as it managed to produce 231.87 MnT coal against the target of 243.30 MnT set for the period.
Due to low demand from Power sector, CIL had earlier cut down its monthly coal output in order to clear off its excess coal stocks. As a result, the total coal output for the half year period in FY18 has shown only a minor growth of 0.8% Y-o-Y to 231.88 MnT compared with 229.82 MnT produced during the same period in FY17.
While, Coal offtake during the half year period (Apr’17-Sep’17) has increased 8% Y-o-Y to 269.02 MnT compared with 248.88 MnT in Apr’16-Sep’16. Coal offtake had outshined coal production for the straight sixth month in FY18, which remained almost constant at 43.58 MnT in Sep’17 on the monthly basis.
Eventually, declining coal stocks at power plants forced CIL to raise its monthly production, which has reportedly increased for the second consecutive month in Sep’17.
Subsidiary-wise Performance during H1 FY18:
Mahanadi Coalfields Ltd (MCL) edged out SECL to become the top coal producer during the half year period of FY18. While, only three subsidiaries namely CCL, NCL and NEC managed to achieve their production target for the period.
In terms of Total Coal Offtake, SECL was the top performing subsidiary followed by MCL, NCL, CCL and WCL.
Source: CIL | Quantity in MnT
Leave a Reply