Coal India has produced 773.6 million tonnes of coal in FY24, up 10 per cent over 703.2 mt in FY23. Coal production, however, fell short of the target of 780 mt for the year.

Coal India’s production and off-take are pegged at 838 mt for FY25.

“This is the first instance that the company recorded double digit growth in two successive years since its inception. In volume terms the output expanded by 70.4 mt — the second ever high.

“In the previous two financial years, CIL has increased its production by 151 mt. Coal production of 88.6 mt in March 2024 was the highest for any month till date,” the public sector miner said in a statement.

“Mahanadi Coalfields, the Odisha based CIL subsidiary has emerged as the country’s first coal producing company to have breached 200 mt with production at 206.1 mt,” the statement added.

Total coal supplies was 753.5 mt during FY24 with an 8.5 per cent year-on-year growth from 694.7 mt of FY23.

Coal India ended FY24 with a coal inventory of around 90 mt — a near 30 per cent increase from 69.3 mt in the corresponding period last fiscal. High coal inventory could support the rising demand from thermal power plants during the summer season.

Coal India further said that on an average it has loaded 292.2 rakes per day during FY24 against 273.6 rakes per day of FY23, registering a growth of 6.8 per cent. One rake load of coal is approximately 4000 tonnes.

The miner has also seen an improvement in quality of supplied coal with grade conformity at 76 per cent during FY24 from 70 per cent preceding year.

Coal India scrips at Rs 442 were up 1.90 per cent over the previous close at Bombay Stock Exchange.

DVC generation

Damodar Valley Corporation said it has achieved the highest cumulative generation in its 75 year history, by registering 44314.6 MU (million units) in FY24, which includes 44125.5 MU of thermal, 180 MU of hydel and 9.1 MU of solar generation.

DVC achieved thermal generation at 76.81 per cent PLF in FY24, which is the highest in last 10 years and ahead of the national PLF of 68 per cent.