Coal India Exceeds Annual Coal Supply Target to Power Sector for Current Fiscal Year

State-run coal miner, Coal India, announced on Thursday that it has exceeded its annual coal supply target to the country’s thermal power plants for the current fiscal year. According to a filing with the stock exchange, the company has supplied a remarkable 610.8 million tonnes of coal to thermal power plants, surpassing the annual target of 610 million tonnes.

This milestone was reached four days ahead of the fiscal year 2024 closure, with coal supplies hitting 610.8 million tonnes on Wednesday. This marks a significant increase compared to the same period last fiscal year, with a rise of 29.3 million tonnes or 5 percent year-on-year, reaching 581.5 million tonnes.

Coal India's daily supplies to coal-fired plants are currently averaging 1.76 million tonnes amidst a rising demand from the power sector.

The company stated, "This is the second consecutive year that CIL’s coal supplies to the power sector exceeded the target. In FY23, off-take to power plants was 586.6 million tonnes against the programmed commitment of 565 million tonnes. Bolstered by higher supplies from CIL, coal stock at domestic coal-based power plants shot up to 47.1 million tonnes (as on 26 March) ahead of the onset of summer," highlighting a significant increase compared to the previous year, with a surplus of 13.7 million tonnes.

As of March 26, 2023, coal stock at power plants stood at 33.4 million tonnes.

HBL