State-owned Coal India Limited (CIL) produced 773.6 million tonnes (MTs) of coal in FY 2024, posting a 10 per cent growth over a high base of 703.2 MTs of FY 2023, it reported in an exchange filing. This, per the data shared by CIL, is the first instance that the company recorded double digit growth in two successive years since its inception. In volume terms the output expanded by 70.4 MTs which is the second ever high. Even so, the state-run coal miner marginally fell short of its annual production target for the last fiscal.
In the previous two financial years, CIL increased its production by 151 MTs, which was higher by 22.6 MTs in comparison to the combined increase of 128.4 MTs achieved in six years from FY 2016 till FY 2022. In March 2023, CIL reported its highest-ever monthly production at 88.6 MT coal, up 6.1 per cent over 83.5 MT in the same month last year.
“While all the coal producing arms of CIL have recorded positive growth, five of them BCCL, CCL, NCL, WCL and MCL have stepped over their respective annual targets for the second consecutive year. Mahanadi Coalfields Limited, the Odisha based CIL subsidiary has emerged as the country’s first coal producing company to have breached 200 MT with production at 206.1 MTs,” CIL said in a statement.
Meanwhile, total coal supplies have hit 753.5 MTs during FY 2024 logging 8.5 per cent growth. The 58.8 MT volume increase came over 694.7 MTs of FY 2023.
Supplies to the power sector have reached 618.5 MTs in the just concluded fiscal, 31.9 MTs more compared to 586.6 MTs of FY 2023, up 5.4 per cent on-year. CIL supplied 8.5 MTs more coal to power plants than its assigned commitment of the year, which was 610 MTs.
Concurrently, supplies to the non-power sector (NPS) have risen to 135 MTs with a year-on-year growth of 26.9 MTs posting around 25 per cent growth. CIL supplied 108.1 MTs to NPS in FY 2023.
On the back of better quality coal supplies, grade conformity improved to 76 per cent during FY 2024 from 70 per cent over the preceding year. CIL ended FY 2024 with a coal inventory of around 90 MTs which is 20.7 MTs more than the same period last financial year, recording a near 30 per cent increase. Stock at CIL’s pitheads was 69.3 MTs corresponding period last fiscal.
On an average, the state-owned firm said that it loaded 292.2 rakes per day during FY 2024 against 273.6 rakes per day of FY 2023, up 6.8 per cent. One rake load of coal is approximately 4000 tons. CIL’s production and off-take are pegged at 838 MTs for FY 2025.
