In May 2023 total supplies rose to a healthy level of 63.7 MT posting 4.1 per cent compared to 61.2 MT of May 2022
Coal India’s (CIL) production rose to a record high of 60 million tonnes (MT) in May, logging 9.5 per cent growth over the same month last year with an increase of 5.2 million tonnes, the company said in a BSE filing on Thursday.
In a regulatory filing, the company said, “Considering the production for May generally hovers in the range of 40 MT to 48 MT, CIL output surge in current fiscal’s May was substantial. All the subsidiaries of CIL have listed positive growth.”
Shares of Coal India Ltd, on Thursday, ended over 4 per cent lower at Rs 230.55 on BSE.
Although the growth logged in May 2022 was higher at 30 per cent, in real terms the production was 54.7 MT, exceeding the 50 MT mark for the first time.
CIL’s growth in May 2023, in volume and percentage terms came on the back of a very high base.
Progressive production till May 2023 was 117.5 MT increasing by 9.3 MT, citing 8.6 per cent year-on-year (y-o-y) growth. Production was 108.2 MTs same period last fiscal.
In May 2023 total supplies rose to a healthy level of 63.7 MT posting 4.1 per cent compared to 61.2 MT of May 2022. For April-May 2023 coal off-take was 126 MT clocking 6.2 per cent growth compared to 118.6 MT of same period last year. This increase is 7.3 MT.
CIL’s over burden removal went up sharply to 178.2 million cubic metres in in May logging a robust 35 per cent growth over May 2022 with all the subsidiaries achieving growth. OBR growth bodes well for future coal production apart from stabilising mine geometry. For the two-month period till May FY 2024 CIL excavated 346 million cubic metres of OBR registering 32 per cent growth.
In an encouraging sign supplies to non-power sector at 22.3 MT posted 29 per cent y-o-y growth ending May FY 2024. This is a jump of 5 MT in a two month compared to 17.3 MT of year ago same period. Already deep into summer the domestic coal-based power plants, with bulk of the supplies swelled by CIL, are comfortably stocked with 35 MT of coal as of May end.
This is 13.2 MT or 60 per cent higher than 21.8 MTs over May 2022. Coal inventory at CIL’s pitheads is at 61 MT. Further, coal at private washeries, goods sheds, captive mines, ports and in transit accounts to the tune of 15 MT. Cumulatively, there is sufficient coal buffer of around 111 MT.