CIL Coal Production Down 42% M-o-M in Apr’17

CIL recorded monthly coal output of 38.44 MnT for Apr’17, during the first month of the current fiscal year 2017-18, missing its target of 43.58 MnT. 

Coal production was down by 42% M-o-M compared with 66.07 MnT in Mar’17. Also, the monthly output for Apr’17 was lower by 4% Y-o-Y compared with 40.09 MnT produced during Apr’16.

CIL has recently scaled down its coal production for FY18 to 600 MnT from 660 MnT, on the wake of weak demand from the power sector and surplus coal availability in its pit headstock and also in thermal power plants.

Coal Offtake During Apr’17:
Coal offtake for the month of Apr’17 was 45.29 MnT. Coal offtake which means total coal lifted for consumption including collieries’ own consumption, was lower by 13% M-o-M compared with 52.20 MnT in Mar’17.

However, coal offtake increased by 7% Y-o-Y compared with 42.45 MnT in Apr’16.

Earlier, CIL had set coal offtake target of 49.51 MnT for Apr’17; however, the company failed to achieve its target attaining 91% of the set target.

Performance of Subsidiaries in Apr’17:
CIL’s two subsidiaries South Eastern Coalfields Ltd (SECL) and Mahanadi Coalfields Ltd (MCL) contributed the major share in the coal miner’s monthly coal production and offtake.

MCL produced 10.28 MnT coal in Apr’17, trailed by SECL which produced 10.10 MnT during the month.

However, SECL came out as the top in coal offtake during Apr’17; SECL’s offtake was 12.44 MnT, followed by MCL which clocked 11.07 MnT during the month.