Coal news and updates

Captive coal mines production rises 34% to 53 MT in FY15

Coal production from captive mines last fiscal witnessed a significant rise of 33.64 per cent at 52.769 million tonnes (MT) over the previous year. Coal production in FY 2013-14 stood at 39.484 MT, according to provisional data from the last fiscal, according to provisional coal production data of the last fiscal. The government is eyeing to achieve 1.5 billion tonnes of coal production by 2020. "During the year 2014-15, captive coal blocks contributed 52.769 MT of coal to all India coal production of 612.435 MT," it said. As per the government document, out of total allocated 218 mines 80 blocks were de-allocated by the end of fiscal 2013-14. Thus at the end of 2013-14, 138 coal blocks remained allocated under the category of captive coal blocks. However, by virtue of the Supreme Court order in September last year out of 218 captive coal mines, allocation of 204 blocks was cancelled for fresh allocation. Around 42 producing coal blocks were allowed to produce coal up to March 31, 2015 and allocation of 14 mines was not cancelled, it said. The government had earlier expressed confidence that the country will produce 1.5 billion tonnes of coal by 2020, including one billion tonnes by Coal India (CIL) . CIL accounts for over 80 per cent of the domestic coal output. CIL achieved an output of 229.54 million tonnes (MT) in the first six months of the current fiscal, missing its target of 235.49 MT. Coal India's output target for the current fiscal stands at 550 MT as against the recorded figure of 494.23 MT last fiscal. According to the government provisional data in 2014-15, the total production of raw coal in India increased by 8.25 per cent to 612.435 MT from 565.765 MT in 2013-14. Coal India stock price On October 23, 2015, Coal India closed at Rs 341.40, up Rs 0.00, or 0.00 percent. The 52-week high of the share was Rs 447.25 and the 52-week low was Rs 300.75. The company's trailing 12-month (TTM) EPS was at Rs 20.05 per share as per the quarter ended June 2015. The stock's price-to-earnings (P/E) ratio was 17.03. The latest book value of the company is Rs 26.49 per share. At current value, the price-to-book value of the company is 12.89.

source: http://www.moneycontrol.com