Coal news and updates

Coal India output at 462 mt; misses FY14 target

State-owned miner CIL produced 462 million tonnes coal in the just-concluded 2013-14 fiscal, missing the target of 482 mt.

Coal India Ltd, which accounts for over 80 percent of the dry fuel's domestic production, has been drawing flak for missing production targets. "Coal India's production in the last fiscal was 462 million tonnes," a CIL official said.

Production has fallen short of target because of various reasons such as "environment clearance problem and also due to (Cyclone) Phailin", the official added. Production suffered in October due to Phailin, which affected the key coal producing states of Odisha, Jharkhand and West Bengal.

CIL had said earlier that it may miss the production target of 482 million tonnes for 2013-14, although Coal Minister Sriprakash Jaiswal had asked the company to ensure that the output goal is met.

In 2012-13, the company produced 452.5 million tonnes of coal, short of the 464 MT target. Coal India's production target for 2014-15 has been set at 507 mt, while the overall offtake target is 520 mt.

Coal India stock price On April 07, 2014, Coal India closed at Rs 284.10, up Rs 2.10, or 0.74 percent.

The 52-week high of the share was Rs 330.65 and the 52-week low was Rs 238.35.

The company's trailing 12-month (TTM) EPS was at Rs 26.41 per share as per the quarter ended December 2013.
The stock's price-to-earnings (P/E) ratio was 10.76. The latest book value of the company is Rs 32.48 per share. At current value, the price-to-book value of the company is 8.75.

Source: PTI