CIL Production Rises 23.46% M-o-M in Oct’16

Coal India Limited’s (CIL) production in Oct’16 was significantly up by around 23.46% ; in contrast, its production in comparison with the same month of the preceding fiscal was down by 1.9%.

The state-run miner produced 43.51 MnT of coal during Oct’16 against 35.24 MnT in Sep’16. During Oct’15, CIL produced 44.37 MnT.

During Oct’16, CIL managed to achieve 84% of its target, which was set at 51.88 MnT.

All of CIL’s eight subsidiaries failed to achieve their respective targets during Oct’16. South Eastern Coalfields Limited (SECL) and Mahanadi Coalfields Limited (MCL) produced the highest volumes, at 11.85 MnT and 10.88 MnT respectively, during the month.

Source: CIL

CIL MISSES OFF-TAKE TARGET IN OCT’16

CIL again missed its off-take target during Oct’16, a consequence of prevalence of low demand in the country. The largest miner in the country achieved 90%of its off-take target for the month, selling 43.04 MnT out of its target of 47.96 MnT. Compared with the same month of the last fiscal, its off-take supply dropped by 3.08%.

Out of its subsidiaries, only North Eastern Coalfields Limited (NEC) exceeded its target by 52%, selling 0.11 MnT of its target of 0.08 MnT. Eastern Coalfields Limited (ECL), Northern Coalfields Limited (NCL), SECL and MCL achieved 95%, 96%, 91% and 91% of their respective targets for the month.

 CIL MISSES PRODUCTION AND SALES TARGET FOR APR-OCT’16

CIL missed its production as well as sales targets for the Apr-Oct’16 period. During the first seven months of FY17, the state-run miner achieved 89% and 88% of its production and sales targets respectively.

During the Apr-Oct’16 period, CIL produced and sold 273.57 MnT and 292.16 MnT respectively against the respective targets of 307 MnT and 331.76 MnT.

Source: CIL