The Coal Trader

Coal India reports growth in coal production for FY24

Coal India Limited (CIL) produced 773.6 million t of coal in FY24 registering 10% growth over a high base of 703.2 million t in FY23. This 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 million t – the second ever high for the company.

In the previous two financial years CIL has increased its production by 151 million t. This was higher by 22.6 million t than the combined increase of 128.4 million t achieved in six years from FY16 till FY22. Coal production of 88.6 million t in March 2024 was the highest ever for any month till date.

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 million t with production at 206.1 million t.

Total coal supplies have hit 753.5 million t during FY24 logging 8.5% growth. The 58.8 million t volume increase came over 694.7 million t of FY23.

Supplies to power sector have reached 618.5 million t in the just concluded fiscal, 31.9 million t more compared to 586.6 million t of FY23 with a growth of 5.4%. CIL supplied 8.5 million t more coal to power plants than its assigned commitment of the year – that is, 610 million t.

Concurrently, supplies to non-power sector (NPS) have risen to 135 million t with a year-on-year jump of 26.9 million t registering around 25% growth. CIL supplied 108.1 million t to NPS in FY23.

On the back of better quality coal supplies, grade conformity improved to 76% during FY24 from 70% over preceding year.

CIL ended FY24 with a coal inventory of around 90 million t, which is 20.7 million t more than the same period last financial year – a near 30% increase. Stock at CIL’s pitheads was 69.3 million t corresponding period last fiscal.

On an average CIL loaded 292.2 rakes per day during FY24 against 273.6 rakes/day of FY23 registering a growth of 6.8%. One rake load of coal is approximately 4000 t.

CIL’s production and off-take are pegged at 838 million t for FY25.

By Will Owen, World Coal