Coal India moves on positive growth till mid-December

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Kolkata, December 22
World’s single largest coal producer – Coal India Limited – achieved a production growth of 1.1 per cent as on December 15, 2016,
higher than 0.3 pc growth reported on the same day last month, indicating further
improvement in output, India Coal Market Watch (ICMW) reported.
Coal off-take growth also on upward graph with 0.2 pc growth as of December 15, 2016, compared to a negative 0.8 pc growth till November 15, 2016, the report maintained. The state owned company’s total coal output till December 15, 2016 stood at 349.5 million tons (mt), higher than 345.7 mt achieved during the same period last year (April 1 to December 15, 2015). The cumulative production this year, however, remains lower than the target of 388.3 mt set for the period under consideration, the data shows. The production during the first 15 days of December stood at 25.9 mt as against 24.3 mt produced during the same period of December 2015. Among the CIL subsidiaries, Eastern Coalfields Ltd (ECL), Bharat Coking Coal Ltd (BCCL), Northern Coalfields Ltd (NCL), Bharat Coking Coal Ltd (BCCL), Mahanadi Coalfields Ltd (MCL), South Eastern Coalfields (SECL) and North Eastern Coalfields Ltd (NECL) have clocked a growth in output so far this year. Two other subsidiaries, namely Central Coalfields Ltd (CCL) and Western Coalfields Ltd (WCL) have reported negative growth in output so far this year. Meanwhile, CIL’s off-take stood at 364.9 mt till December 15, a marginal growth over 364.2 mt achieved during the same period last year. This showed a slight improvement in performance as compared to the 0.8 per cent negative growth recorded till November 15, 2016. It is expected that both production and dispatches would pick up significantly in the coming days.
The cumulative off-take figure fell significantly short of the target of 406.9 mt set for the period (April 1 to December 15, 2016). The off-take during the first 15 days of December 2016 stood at 24.6 mt, higher than 23.1 mt achieved during the same period of December 2015. Meanwhile, the company as a whole has managed to off-set the shortfall in OB removal reported till October 15, 2016. The OBR showed a decline of 0.8 per cent till October 15, 2016, but was narrowed down to zero growth as on November 15, 2016.
By December 15, 2016, there was a 0.2 per cent growth in OBR over the same period last year. OBR was reported at 768.5 million cubic metres (mcm) till December 15,
2016, almost unchanged from 766.7 mcm achieved during the same period last year, but below the target of
mcm. OBR during the current month (till December 15) stood at 56.4 mcm as compared to 54.5 mcm achieved during the first 15 days of December 2015.

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