Stepping up on supplies, Coal India Limited (CIL) is poised to post 16.6% growth in coal despatch to its non-regulated sector (NRS) customers in the fourth quarter of the ongoing fiscal, compared to the preceding quarter.
Coal despatch to NRS customers is averaging 3.67 Lakh tonnes per day in Q4 FY'23 till date. CIL is likely to close the ongoing quarter with 33 million tonnes (MTs) supply to this sector. It would mean 4.7 MTs more coal to NRS, or a jump of 16.6%, compared to 28.3 MTs that the company supplied in the third quarter of the year.
Supplies to NRS during January-March 2023 expected at 33 MT would be 3.1 MTs more against comparable quarter of FY'22 representing a double digit growth of 10.4%. CIL supplied 29.9 MTs to non-regulated sector in the final quarter of FY'22.
The improved supplies to NRS, from the quarter beginning January'23, were fueled by the accretion in the coal inventory at CIL's pitheads. In the current month of March coal stock increase at CIL's end was to the tune of 6 Lakh tonnes per day so far despite higher supplies to power utilities.
CIL's pithead stock which was 32 MTs at the third quarter ending December'22 has doubled to a comfortable buffer of 63.8 MTs as on 23 March'23. CIL's stocks are expected to be 68 MT by the fiscal's closure.
"We are making all efforts to supply higher quantities to NRS customers without affecting supplies to power sector, through increased production" said a CIL official.
In the ongoing quarter of FY'23 CIL has booked close to 16 MTs in e-auctions which is 1 MT more than 15 MTs of the previous quarter. With more auctions lined up in the last week of March coal booking will go even higher by the quarter's end.
CIL has the option of placing upto 20% of its total production under the e-auction hammer after fulfilling its fuel supply agreements. Though e-auction sales fetch higher add-on over the notified prices, CIL's priority is to fulfill its FSA commitments and meet the demand surge from the power sector.
Shares of Coal India Limited was last trading in BSE at Rs. 213.25 as compared to the previous close of Rs. 213.85. The total number of shares traded during the day was 212013 in over 2185 trades.
The stock hit an intraday high of Rs. 214.75 and intraday low of 212.40. The net turnover during the day was Rs. 45241195.00.