Coal India ends FY22 with historic high output, offtakeCOALINDIA - 351 Change: -0.95 (-0.27 %)
News: Coal India (CIL) reported production and sales volume for the month March 2022. For the month under review (i.e. March 2022), Coal India reported production volume of 80.3 Million tonnes (MT) (down 1% YoY), while offtake volume stood at 62.0 MT (up 3% YoY). For FY’22, Coal India reported production volume of 622.6 MT (up 4% YoY), while offtake volume for the year under review (FY’22) stood at 661.9 MT (up 15% YoY).
View: Coal India has ended FY’22 with historic high output and offtake. Coal India’s offtake volume of 661.9 MT for FY22 is broadly in line with our estimate of 650 MT. CIL’s coal output and offtake targets are pegged at 700 MT for FY23E. During FY’22 amid rising coal demand from the country's generation companies, CIL’s supplies to the power sector soared to a record 540.4 MT with a notable 95.4 MT volume increase. This represents 21.4% growth compared to 445 MT supplies in FY’21.