Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Stock Report

| More

Coal India's production sets record increase of 36 MTs in Q1 FY'23

Posted On: 2022-07-01 19:53:29 (Time Zone: IST)


Continuing to accelerate its production pace during the ongoing fiscal year, Coal India Limited (CIL) ended April-June quarter FY'23 capping a historic high of 29% output growth, compared to same quarter FY'22.

CIL produced 159.8 million tonnes (MTs) of coal as of Q1 end, which is 35.8 MTs more than the 124 MT output of April-June'22. All the coal companies of CIL have registered growth.

"The likeness of such whopping growth was never witnessed in any Q1 since CIL's inception. Our first quarter production surge of nearly 36 MTs surpassed the entire annual increase of 26.4 MTs of FY'22" said a senior official of the company.

Only twice before, CIL's total yearly production was higher than what it achieved during the current year's first quarter alone.

In its bid to achieve the fiscal's 700 MT output target CIL began FY'23 with an asking rate of 12.4%. The steep production gain of Q1 helped the company bring down the asking growth rate to 8.3%. Increased production enables better stock build up.

Coal output for June'22 at 51.6 MTs also registered an unmatched 29% growth with volume increase of 11.5 MTs. CIL produced 40 MTs in June'21.

With the coal demand from power plants reaching a higher pitch, CIL's supplies to power sector peaked to a new high of 153.2 MTs during the quarter registering a strong growth of 19.8%. The expansion in absolute terms was a robust 25.3 MTs over 127.9 MTs of last fiscal's Q1.

CIL on an average supplied 1.684 MTs of coal per day to power sector during the quarter ended June'22 against requirement of 1.650 MTs per day, resulting in 102% materialization.

In June'22 supplies to coal fired plants have gone up to 1.713 MTs per day against projected requirement of 1.6 MTs resulting in 107% materialization.

CIL's offtake to power sector, during June'22, clocked a sharp 27% growth at 51.4 MTs. This is 11 MT jump compared to 40.4 MTs in June'21. Higher supplies during the month resulted in coal stock accretion to the tune of 77,000 tons per day at power plants end.

Total coal off-take of 177.6 MTs during the quarter ended June'22 posted nearly 11% growth. Increase in absolute terms was 17.3 MTs compared to offtake of was 160.3 MTs in April-June'21.

CIL's total off-take for June'22 clocked 15.4% growth at 59 MTs. The increase was 7.8 MTs compared to 51.2 MTs in June'21.

Shares of Coal India Limited was last trading in BSE at Rs. 183.25 as compared to the previous close of Rs. 185.50. The total number of shares traded during the day was 554014 in over 8281 trades.

The stock hit an intraday high of Rs. 186.50 and intraday low of 176.80. The net turnover during the day was Rs. 100487487.00.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Quess and NSDC Sign MoU to Enhance Skill Development and Employability

Tata Elxsi recognized as India's Top Value Creator for Software and BPM by Dun & Bradstreet

Graphite India acquires a 31% shareholding in Godi India for Rs. 50 Crores

Brigade to Develop a Luxury Residential Project next to Mysore Golf Club with a Gross Development Value of Rs 300 crores

GRSE delivers Largest Ever Survey Vessel to be built in the Country - 'INS Sandhayak' on the Navy Day 2023

MOIL's November Production up by 35% y-o-y

HCC arm receives Rs. 110 crore earn out from Cube Highways

Stovekraft forays into North India with the launch of its First Exclusive Pigeon Brand Outlet in Delhi

JSW Infrastructure signs Share Purchase Agreement to acquire majority holding of PNP Port from SP Group

Gulshan Polyols Ltd gets order worth Rs. 571.50 crore to supply Ethanol

Cupid Ltd announces strategic land acquisition and expansion in Industrial Area near Mumbai to boost production capacities

IEX Power Market Update, November '23

TCM Ltd to sell land in Tuticorin for Rs. 3.03 crore

Taylormade Renewables Ltd granted patent for a Novel Solvent Recovery System

Bannari Amman Spinning Mills Ltd to divest stake in JV, raise funds, diversify into healthcare business

State Street to further consolidate Operating Model in India

KPI Green Energy Ltd completes acquisition of KPark Sunbeat Pvt Ltd

Fermenta Biotech Ltd executes sale deed for land sale

Stars or Substance? Orientbell Tiles Unveils Bold Campaign Challenging CelebEndorsements

SEAMEC Ltd enters into Bimco Charter Party for vessel Subtech Swordfish

Happiest Minds Recognized Among Top 50 India's Best Workplaces™ in IT & IT-BPM 2023

H.G. Infra Engineering Ltd receives LOA from NTPC

We Win Limited wins order worth Rs. 2.14 crore

Revolt Motors Sets a New Milestone - Crosses 100 Dealerships Nationwide

Bath & Body Works partners with Shoppers Stop to expand its presence in India

Aether Industries Limited - Update on fire incident

Sadhana Nitro Chem Ltd to set up 15-20 MW Green Hydrogen Facility, Board approves Rights Issue of up to Rs. 49.95 Cr

Tie up with Dusit Thani International Saboo Sodium Chloro Limited

Fairbridge Capital Mauritius Ltd completes OFS of 40 Mn. equity shares of Thomas Cook India Ltd

Kaka Industries Ltd to install roof top solar power plant

Som Distilleries and Breweries Ltd receives approval for supply of its brands to Tamil Nadu

Veefin Solutions Ltd forms subsidiary

Securevalue India Ltd completes deployment of 270 dedicated cash vans

Time Technoplast Ltd signs MOU to sell land and building in South India

Moneyboxx Finance crosses Rs. 500 Cr AUM

Geojit appoints Rahul Roy Chowdhury as CEO, Private Wealth Services and Gopinath Natarajan as CEO, Portfolio & Managed Assets

Ampere Strengthening Footprint in Nepal with Introduction of Electric Two-Wheelers in Partnership with Kedia Organisation

BLS International wins order from State Health Agency - Ayushman Bharat-Pradhanmantri Jan Arogya Yojana, Uttar Pradesh

63 moons unveils innovative technology universe of Cybersecurity, Web 3.0 & Blockchain, and LegalTech

Wardwizard Foods and Beverages Ltd shines at Lakshyavedh Business Jatra 2023, showcasing Innovation, Sustainability and Partnership

Bigbloc Building Elements Pvt Ltd to expand capacity

L&T Finance Holdings Ltd completes the merger of its subsidiaries with itself

BCL Industries Ltd receives orders worth Rs. 561 crores from OMCs for Ethanol supply

J Kumar Infraprojects Ltd receives LOA for order worth Rs. 378.70 crores

SEPC Ltd's bid accepted for order worth Rs. 427.79 crores

Genesys Incorporation Corporation Secures Prestigious Project to Digitally Twin Holy Shrine Mecca

Kalpataru Projects International Ltd receives orders of Rs. 2263 crores

APSEZ records 42% YoY growth in Nov '23 cargo volumes

SEML achieves yet another milestone order of INR 85 Million

Persistent Named as the 'Most Promising Company' of the Year at CNBC-TV18's India Business Leader Awards


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020