Continuing the dream run, Coal India’s (CIL) subsidiary Mahanadi Coalfields Limited (MCL) as of January 5 had surpassed the coal supplies of the entire FY’21, almost three months ahead of the current fiscal’s closure, the company announced through an exchange filing.
MCL’s coal off-take peaked at 146.12 million tonnes (MTs) on January 5, overtaking the total supplies that the company registered for the full year of FY’21. The feat was accomplished 85 days before FY’23 draws to a close. MCL’s supplies ending FY’21 were 146 MTs.
As of the referred date, MCL’s year-on-year growth in supplies was around 11%. It supplied 132 MTs of coal year ago same period.
“MCL’s growth curve has been phenomenal in FY’23 in terms of production and supplies, the highest among all our subsidiaries,” said a senior executive of CIL adding “this helped us in pushing up our overall output and off-take”.
Highest coal supplier
The Odisha based coal company supplied 143.4 MTs of coal till December FY’23, the highest among CIL’s subsidiaries and 13.7 MTs ahead of the progressive target achieving 111% satisfaction. MCL’s supplies accounted for 28.2% of CIL’s total offtake of 507.8.
Against the contracted quantity of 81.5 MTs to its power sector customers, the actual supply from MCL was 102.7 MTs till December FY’23, resulting in 126% materialisation.
Similarly, MCL’s production of 137.7 MTs was the highest among CIL’s producing arms, achieving 116% of the progressive target ending December 22, The increase over the target was a whopping 19.3 MTs. Of CIL’s output of 479 MTs until December, MCL alone accounted for 28.7%.
A growth of 14% in over burden removal at 168.8 million cubic metres till December and being ahead of the progressive target with an achievement of 111% means MCL’s coal extraction would be quicker in the ensuing months.
