State-owned Coal India Ltd (CIL) announced a robust growth in coal production, marking an 11.5 per cent increase to reach 460 million tonnes (MT) during the April-November period of the ongoing fiscal year. This significant expansion positions CIL as a major contributor, accounting for over 80 per cent of the domestic coal output. The company's performance outpaced the annual target rate of 10.2 per cent, showcasing an impressive upsurge of 47.4 MT compared to the 412.5 MT produced during the same period last year.
All seven arms of CIL reported growth, with notable achievements by BCCL and NCL, both surpassing their progressive targets. In the last month alone, CIL's production witnessed an 8.7 per cent increase, reaching 66 MT compared to 60.7 MT in the corresponding month of the previous fiscal year. This positive momentum underscores the company's commitment to meeting the rising demand for coal in the country.
CIL's contribution to the power sector also witnessed an upward trajectory, with coal supply to the sector increasing by 4.7 per cent to 398.7 MT during the April-November period, compared to 380.8 MT in the year-ago period. The company expresses confidence in surpassing the demand projection of 610 MT set by the Ministry of Power for the current fiscal year. To achieve this, CIL aims to sustain its growth over the high base of the penultimate four months of the previous financial year, demonstrating a commitment to meeting the energy needs of the nation.
Efforts are underway to ensure a steady supply of coal, with year-to-date coal stock at CIL's pitheads reaching 45 MT, indicating a substantial increase of approximately 58 per cent compared to the same period last year when it stood at 28.5 MT. This strategic buildup of coal stock positions CIL favourably to cater to the escalating demand, offering stability and security in the energy supply chain.
In terms of overall supplies, CIL recorded a total of 485.4 MT during the first eight months of the current fiscal year, marking an 8.7 per cent growth. This compares favourably to the supplies of 446.4 MT during the corresponding period of the previous fiscal year. The month of November 2023 further contributed to this positive trend, with coal off-take reaching 63 MT, exceeding the 60.7 MT recorded in November 2022 by 2.3 MT.
CIL's consistent growth in coal production and supply positions the company as a key player in meeting the energy demands of the nation. The positive trajectory in the face of increased demand and the strategic buildup of coal stocks reflect CIL's proactive approach to ensuring energy security and contributing significantly to the country's economic growth.
