Coal India subsidiary races ahead of performance targets

Coal India’s (CIL) subsidiary Mahanadi Coalfields Limited (MCL) as of 5 January surpassed the coal supplies of entire FY’21, almost three months ahead of the current fiscal’s closure. MCL’s coal off-take peaked to 146.12 million tonnes (MTs) on 5 January overtaking the total supplies that the company registered for 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”. 
 

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% materialization.
 

Similarly, MCL’s production of 137.7 MTs was top among CIL’s producing arms achieving 116% of the progressive target ending December’22. Increase over the target was a whopping 19.3 MTs. Of CIL’s output of 479 MTs till 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.