Coal news and updates

Coal India’s supplies record 31% growth at 77.4 MTs under e-auction log

On Wednesday, Coal India Ltd. announced that its actual coal despatch under the five e-auction windows at 77.4 million tonnes (MTs) jumped ahead by 37% during April-December’21 compared to 59 MTs corresponding Period Year ago.

The premium over in e-auction notified prices surged four folds to 58% during the Apr-Dec’21 as compared to 15% of the corresponding quarter.

Coal supplied under other e-auction outlets, where predominantly non-regulated sector customers access coal, accounted for 49.5 MTs. Under this category CIL logged a growth of 21% compared to 41 MTs of same period last year and a two-fold increase over 24.4 MTs of comparable period 2019.

The volume increase in supplies under e-auction was achieved even though CIL pumped an all-time high of almost 391 MTs of coal to thermal power plants during April-December’21 reflecting 23.3% growth. The increase in absolute terms is 74 MTs. In comparison, despatch to power sector was 317 MTs for same period last year.

CIL’s total off-take scaled up to 482 MTs during the first nine months of the fiscal in progress registering a year-on-year growth of 18%. The increase in absolute terms was 72 MTs compared to 410 MTs in April-December’20.

CIL lodged a total of 83.7 MTs of coal under its five e-auction categories during the Apr-Dec’21, reflecting a 2.3 MTs increase over 81.4 MTs of corresponding period in last fiscal.

Even if CIL books the same quantity, during the fourth quarter of the current fiscal, of coal in e-auctions that it did during same quarter previous fiscal, which was 42.6 MTs, the company would still sail past the record high e-auction allocation of 124 MTs achieved in 2020-21.

Coal India Ltd is currently trading at Rs163.60 up by Rs2.8 or 1.74% from its previous closing of Rs160.80. The scrip opened at Rs160.40 and has touched a intraday high and low of Rs164.80 and Rs160.40 respectively.