Stock Report

Coal India Ltd output up 20% in H1 FY'23 and supplies to power plants grew by 17%

Posted On : 2022-10-01 15:32:14( TIMEZONE : IST )

Coal India Ltd output up 20% in H1 FY'23 and supplies to power plants grew by 17%

Continuing to maintain the double digit growth streak in production, beginning FY'23, Coal India Limited (CIL) closed the first half of the current fiscal producing 299 million tonnes (MTs).

This is a sharp upward swing of 49 MTs the highest incremental growth for any period. Compared to 250 MTs of H1 last year, the growth was 19.7%. All CIL's subsidiaries recorded growth with BCCL topping at 31.3%.

Achieving nearly 43% of the fiscal's 700 MT production target in six months CIL is aiming to close on the rest in the second half. Customarily, CIL's H2 production yield is much higher than the H1.

The coal major's total coal off-take at 332 MTs in April-September'22 surpassed the target, achieving 101.7% satisfaction. CIL supplied 24 MT more coal compared to 308 MTs of same period last year at a growth of 7.8%.

Supplies to power plants, buoyed by increased production and higher loading, have risen sharply to 285.5 MTs in H1 FY'23. The year-on-year jump is 41 MTs logging 16.8% growth. CIL's supplies stood at 244.5 MTs in H1 FY'22.

On an average loading to power sector was up by 56.5 rakes per day from CIL's sidings, goods sheds and private washeries during April-September'22. Total loading to thermal plants at 300 rakes per day posted 23.2% growth against 243.5 rakes of last year same period. Of this, loading from CIL's sidings was 85% or 254.3 rakes.

Dispelling coal shortage apprehension during the festive season there is sufficient coal stock at CIL's pitheads and at power plants.

As of September end (till 29th) coal inventory at domestic coal based plants stood at 24 MTs with bulk of the stock boosted by CIL's supplies. The stock is up by 2.4 fold compared to 10 MTs of September'21 when a sudden spike in generation pushed up the coal demand. Ending September CIL's pitheads have a stockpile close to 28 MTs.

"Now adequate coal stocks are within reach. Production also increases from October onward. There is no cause for shortage apprehension", said a senior official.

CIL's output for September'22 at 45.7 MTs witnessed 12.3% growth. Increase in absolute terms is 5 MTs compared to 40.7 MTs of same month last year. Supply to power sector in September rose to 42 MTs compared to 39.3 MTs registering 7% growth.

Source : Equity Bulls


CoalIndia SalesVolume Q2FY23 H1FY23