India: CIL Coal Production Rises 7% Y-o-Y in Feb’19

Coal India Ltd (CIL) has reported a monthly coal production of 58.05 MnT in Feb’19, to attain new highs for the FY19.

Coal production was 7% higher on the year compared with 54.48 MnT in Feb’18.

Surprisingly, the month of February generally witnesses a fall in monthly production due to lesser number of mining days. However, with an average output rate of 2.07 MnT/day, the coal company has managed to post a rise on m-o-m basis from 57.2 MnT in Jan’19.

Notably, the rate of output during Feb’19 was the highest in the month of February seen in the past 5 fiscals.

CIL’s total coal production has reached 527.7 MnT during the first 11 months of FY19 (Apr’18-Feb’19), up 6.6% Y-o-Y from 495.08 MnT in the corresponding year last fiscal.

CIL’s Coal Dispatch:
CIL’s coal dispatch volume has exceeded the corresponding production in the current fiscal year, but its growth rate has been relatively slower than the latter.

Total dispatch was noted at 548.49 MnT in Apr’18-Feb’19 period as against 525.04 MnT, thereby recording a growth of 4.5% Y-o-Y.

The drastic need for coal supplies to power sector has been reduced with a build-up of coal stock at the power plants. Subsequently, CIL’s coal dispatch has been subdued in the past few months.

As per the data provided Power ministry, coal stock assessed at the power plant was 24.898 MnT at the end of Jan’19, rising to its highest level since Apr’17.

CIL’s coal dispatch had extended its fall on the month noted at 51.45 MnT in Feb’19, but had managed a 3% Y-o-Y growth from 49.94 MnT in Feb’18.

Subsidiary-wise Coal Performance in Feb’19:

MCL replaced SECL to become the largest coal producing subsidiary in Feb’19.

MCL’s coal output increased 9% M-o-M to 14.48 MnT in Feb’19, which was also 17% higher on the year compared with 12.36 MnT in Feb’18.

In terms of coal dispatch, SECL remained the largest coal supplier among the subsidiaries.

As a matter of fact, all the coal producing units of CIL-except NECL, have recorded a y-o-y growth in total coal dispatched during the first 11 months of FY19.