Coal India produces 121.3 MnT of Coal in Q1 of the fiscal registering a growth of 12% Y-o-Y. However, has missed both its production and off-take target for the quarter.
After starting the fiscal with a spurt, producing 41.52 MnT against targeted 40.93 MnT in Apr’15, CIL misses its production target for Q1 in the fiscal. According to the latest updates, CIL produced about 121.3 MnT coal against a production target of 123.04 MnT for Q1 of FY16, missing its production target by 1%.
Among the eight subsidiaries of CIL, CCL and ECL achieved their production target by 120% and 102% respectively. However, all other subsidiaries missed their production targets; NEC achieved only 27% of the production target and was the poorest performer.
| SUB.CO | TARGET | PRODUCTION |
| ECL | 8.9 | 9.1 |
| BCCL | 9.3 | 8.8 |
| CCL | 10.5 | 12.5 |
| NCL | 18.4 | 18.2 |
| WCL | 11.4 | 10.2 |
| SECL | 32.6 | 31.1 |
| MCL | 31.5 | 31 |
| NEC | 0.26 | 0.07 |
Qty in MnT
Along with the production target, CIL also missed it offtake target by 4% for the quarter. The offtake target for Q1 of FY16 was 135.35 MnT. CIL also missed its production and offtake target for June’15 by 5 & 3% respectively.
It should be noted that for the last fiscal, a target of 505 MnT of coal production was set for CIL. But it had produced about 494 MnT, missing by about 3%. This year CIL has been allocated a production target of 550 MnT.
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