State-owned Coal India has set a target of producing 915 million tonnes of coal in 2025-26, the company’s chairman and managing director P M Prasad told Arunima Bharadwaj in an interview. Additionally, the company plans to come out with the draft red herriing prospectus (DRHP) for the listing of its two of its subsidiaries — Bharat Coking Coal and Central Mine Planning and Design Institute — by the end of the current fiscal. CIL, which reported a 12.5% rise in its consolidated net profit in the second quarter of the current fiscal, has also laid huge plans to increase its green energy portfolio to 3 giga watt (GW) by FY28 and has signed 15 non-disclosure agreements in the critical mineral segment.
What is Coal India’s capex target for FY25?
The aspirational capex target is Rs 20,000 crore for FY25. Till October, the capex spend was around Rs 7,904 crore. Capex typically picks up from the third quarter of the fiscal and intensifies in the fourth quarter.
Is coal production keeping pace with the target set for FY25?
Coal production by the company and its subsidiaries was 438.3 million tonnes (MTs) as of November 16, up by nearly 10 MTs over last year’s same period. Of this, the coking coal output was 32.4 MT. Our production progressd exceedingly well till the first quarter, with 8% growth. The tempo was disrupted by higher than normal rainfall in almost all our producing units in the second quarter. We started recovering the lost ground from October and are targeting growth in the range of 7% during the remainder of the fiscal year and reach as close to the target of 838 MTs as feasible.
Also ReadPrimary market to remain strong in December, with 10 companies to raise Rs 20,000 crore via IPO
What is the current status of coal stocks at thermal plants? How much growth in your production and stock positions do you envisage for FY26?
Domestic coal-based power plants are stocked with 33 MTs of coal as of November 16 compared to 21.5 MT as on the same date last year. Bulk of the coal was supplied by CIL. Coal inventories at CIL’s pitheads stood at 65.4 MTs. Production target for FY26 is pegged at 915 MTs. Stock position is variable and depends on how the demand for coal shapes up.
» Read More
