State-run miner Coal India Ltd (CIL) has increased coal production by 11% y-o-y to 71.9 million tonnes (mnt) in January 2023 compared to 64.49 mnt in January 2022, registering a double-digit growth for the third straight month.
Entering the final quarter (January-March) of the fiscal, which is the peak mining period, the company scaled up production levels to 2.32 mnt/day in January as against 2.14 mnt/day in December.
The higher productivity also helped the miner to gradually replenish its inventory for the upcoming summer season. Presently, stock level at the mines has improved to 39.62 mnt in January-end as against the lows of 27.09 seen in October.
It is important to note that the production in January, 2023 was around 12% more than the dispatches of 64.38 mnt seen in this very month.
MCL crosses 150-mnt mark
CIL’s largest coal producing subsidiary, Mahanadi Coalfields Ltd (MCL), has breached the 150-mnt coal production mark for the second year in a row.
MCL produced 156.71 mnt of coal over the April, 2022-January, 2023 period of the onging fiscal — which is around 31 mnt more than that of its nearest competitor, South Eastern Coalfields (SECL). Both these subsidiaries account for almost half of CIL’s total production.
Coal Production Subsidiary-wise
Quantity in mnt
Riding on robust performance of its subsidiary companies, CIL’s total production increased 15% y-o-y to 550.93 mnt during April-January, 2022-23.
The company is on course to attaining the fiscal target of 700 mnt, which will require 150 mnt of output in the remaining two months at an asking growth rate of 3.16%. At the beginning of the fiscal, the growth rate for achieving the production target was 12.41%.
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