Coal India achieves 108% of targeted supplies to power sector so far in FY23

1 Sep 2022 , 07:07 PM

Coal Indias (CIL) supplies to power sector at 243.3 million tonnes (MTs) achieved 108% of annual action plan (AAP) target of 225.4 MTs, progressive till August FY23. Supplies overshot the target by nearly 18 MTs. The company also breached its AAP target of 276 MTs for total off-take achieving 102.5% satisfaction. Total supplies have risen sharply to 283 MTs, during the period under reference with a jump of 7 MTs over the target. CILs supplies of 243.3 MTs to power sector during April-August22 were 38.1 MTs more compared to same period last year posting a double digit growth of 18.6%. Supplies were 205.2 MTs for the same period last year. At 283 MTs total coal off-take of the company, progressive till August22 of current fiscal, increased by 23.6 MTs in volume terms against 259.4 MTs of last year. The growth is 9.1%. Diminishing fears of coal shortage, coal stock at power plants is close to 30 MTs, including imported coal, ending August 22 (till 29th). This is substantially higher than 12.8 MTs of August 21 when the stock plummeted by 11.2 MTs in a month. Improved supplies from CIL helped the stock stabilizing at power plants. Closing stock for the month of August22 is a six year high barring 2020 when pandemic fuelled slowdown saw the stock at 37.7 MTs. Producing 253.3 MTs of coal during April-August22 CIL logged a double-digit year-onyear growth of 21%. This is a strong 44.1 MT increase in absolute terms against 209.2 MTs of last years same period. This level of increase was achieved despite increased downpour across all the areas of WCL and MCL. WCL on an average received 54% more rainfall since 1st June till August end during the ongoing fiscal, for a similar period of last year, while the rainfall was 57% more in the areas of MCL. Amidst this, CILs production for August22 posted 8.5% growth at 46.2 MTs. This is a jump of 3.6 MTs compared to 42.6 MTs of August21. Total coal off-take of 51.1 MTs for the month of August 22 has also surpassed the AAP target of 47.5 MTs which is an achievement of 108%. Compared to 48.6 MTs of August21 the growth is 5%. In August22 CIL supplied 43.8 MTs of coal to thermal power plants posting 16% growth against last years 37.8 MTs. With a coal stock of 31 MTs at CILs pitheads, around 30 MTs stock at power plants, and a little over 10 MTs at CILs sidings, goods sheds, private washeries, ports, captive plants there is sufficient availability of coal in the system.Powered by Capital Market – Live News