Coal news and updates

CIL’s off-take growth tapers down in November

India Coal Market Watch

 December 02: Coal India Ltd (CIL)’s off-take growth tapered down year-on-year (y-o-y) in November to 9.04% from 13.8% growth registered in October leading to overall growth of only 9.8% during the first eight months of 2015-16.

 The company on December 1 said its off-take of coal for the month of November increased by 9.04% (y-o-y) to 45.33 million tons (mt) from around 41.57 mt during the same month of 2014.

 The company’s coal off-take in October stood at 44.46 mt which means the off-take in November was up by 1.95% (m-o-m). The off-take target for November was 46.16 mt while that of October was 44.31 mt.

 The off-take by only three - CCL, NCL and SECL - of the eight CIL subsidiaries in October this year was higher than the target for the month as rest of the five subsidiaries - ECL, BCCL, WCL, MCL and NEC – missed their targets for the month as well as for the eight month period.

 The total off-take during the first eight months of 2015-16 (April-November) stood at 341.13 mt, which was 9.8% higher compared to 310.69 mt during the corresponding period of 2014-15, the data revealed.

 Despite registering near double digit growth, the company has missed its off-take target of 350.18 mt during the first eight months of 2015-16, the data revealed.