- 03 Oct 2022
- ICICIdirect Research
COAL INDIA’S PRODUCTION UP 20% IN H1FY23, SUPPLIES TO POWER PLANTS GROW 17%
COALINDIA - 418 Change: -3.65 (-0.86 %)News:
Coal India (CIL) reported production and offtake volume numbers for September 2022. CIL’s production volume during September 2022 was at 45.7 m illion Tonnes (MT), up 12.3% YoY, while offtake volume for the month was at 48.9 MT, up 1.1% YoY. For April–September 2022, CIL reported production volume of 299.0 MT, up 19.7% YoY, while CIL’s offtake volume for April–September 2022 was at 332.0 MT, up 7.8% YoY.
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Continuing to maintain double digit growth streak in production, beginning FY23, CIL closed the first half of the current fiscal producing 299 MT. In the process, CIL achieved nearly 43% of the current 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 in much higher than the H1. The coal major’s total coal offtake at 332 MT in April–September 2022 surpassed the target, achieving 101.7% of the set goal . CIL supplied 24 MT more coal compared to 308 MT of same period last year at a growth rate of 7.8%.
Impact:
Neutral.