Coal news and updates

CIL’s off-take up 3.77% in FY15

April 6: Coal India Limited (CIL) has reported 3.77% increase in annual off-take to 489.34 million tons (mt) in 2014-15 from 471.58 mt recorded in 2013-14,  the company said in a statement.

The off-take stood at 47.49 mt in March, which the highest monthly off-take during the entire fiscal and was also up by 10% as compared to 43.17 mt recorded in February.

The company’s coal despatches to power utilities in 2014-15 grew by 8.5% or 30.35 mt to 384.18 mt from 353.83 mt in 2013-14, the statement said.

Despite reporting an impressive growth, the company missed its total off-take target of 520.00 mt for the year.
The off-take in March 2015 was 95% of the target of 50.08 mt.
“Growth in coal off-take ought to have been more. One of the reasons was wagon availability was not commensurate with the indents of coal companies,”  CIL Chairman & Managing Director Sutirtha Bhattacharya said.

During 2014-15 CIL’s average loading per day increased by 4.3 Rakes. On an average 194.5 rakes were loaded per day during 2014-15 against 190.2 rakes/per day during last fiscal. The growth in average loading per day on year-on-year comparison has been 2.3%.

The following table provides monthly break-up of CIL’s offtake in 2014-15 and 2013-14 (in mt)*:

* Figures have been rounded in some cases