The state-run miner produced 169.6 million tonnes (MT) of coal during the April-June period, compared with 183.3 MT a year earlier. However, coal offtake increased to 197.7 MT from 191 MT in the corresponding period last year.
For June, Coal India’s production stood at 57.4 MT, marginally lower than 57.8 MT in the year-ago month, while offtake rose 7.5% to 65.8 MT from 61.2 MT.
Coal India has set a production target of 815 MT for FY27. With 169.6 MT produced in the first quarter, the company has achieved around 21% of its full-year target.
Among its subsidiaries, South Eastern Coalfields Ltd. (SECL) remained the largest contributor with 44.1 MT of production during the April-June quarter, up 7.2% year-on-year, followed by Mahanadi Coalfields Ltd. (MCL) at 42.5 MT and Northern Coalfields Ltd. (NCL) at 30 MT. While SECL posted growth, production declined at MCL and NCL by 17.5% and 16.3%, respectively.
On the offtake front, MCL led with 54.9 MT, followed by SECL at 48.8 MT and NCL at 32.9 MT during the quarter. The strongest growth in offtake came from Central Coalfields Ltd. (CCL), which reported a 16% increase to 21.8 MT.
Coal India had reported an 11% decline in production in May as well, amid the management’s focus on reducing inventory levels, while offtake remained resilient.
Production for Coal India is generally sluggish during the first half of the financial year due to the monsoons. However, production generally catches up in the second half as weather conditions improve.
The state-run company also recently outlined plans to invest around ₹1,900 crore in research and development by FY30, with a focus on clean coal technologies, carbon capture, coal gasification and mine digitisation.
Shares of Coal India are trading 1.1% lower at ₹434.25. The stock is up 8% so far this year.
