The cumulative outstanding dues of Coal India (CIL) and Singareni Collieries Company (SCCL), which account for over 90 per cent of India’s coal production, rose three per cent on a monthly basis to ₹21,1824 crore in August this calendar year.
Dues payable by thermal power plants (TPPs) to CIL rose marginally by one per cent M-o-M to ₹15,655.26 crore in August from ₹15,512.30 crore in July 2023.
The uptick in the outstanding dues of SCCL was steeper at 10 per cent on a monthly basis last month at ₹6,168.54 crore from ₹5,621.13 crore in July the year.
Dues rise on peak demand
FY24 began on a positive note for the two state-run coal miners as their total outstanding dues fell by 15 per cent M-o-M to ₹17,240.44 crore at the end of March 2023 compared to ₹20,343 crore at the end of February 2023.
The April-June quarter, which is also the peak coal demand season for the TPPs due to higher electricity consumption, witnessed an increase in the outstanding dues of the coal mining PSUs.
The dues of the Power sector rose in April, compared to March 2023, to ₹20,737.87 crore, which further went north to ₹21,797.92 crore in May and ₹22,075.44 crore in June 2023, before declining in July.
CIL’s outstanding dues after slipping to ₹13,915.04 crore in March 2023 began inching up during April and May to ₹16,012.28 crore and ₹16,330.15 crore, respectively, in line with rising demand for the key commodity.
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The amount payable by the power sector to the mining behemoth fell in June to ₹15,783.33 crore and then further to ₹15,512.30 crore last month.
In the case of SCCL, after declining to ₹3,325.40 crore in March 2023, the monthly outstanding rose consistently for the next three months—from ₹4,725.59 crore in April to ₹5,467.77 care in May and ₹6,292.09 crore in June.
The outstanding dues of the Telangana-headquartered coal miner fell in July to ₹5,621.13 crore from the high witnessed in June, which is also the highest during FY24 as well as the current calendar year so far.
Production & Despatch
India’s cumulative coal production in August, 2023 stood at 68.37 million tonnes (MT) against 58.09 MT a year-ago, which is a Y-o-Y growth of 17.70 per cent.
It includes coal production of 52.31 MT by CIL, 5.02 MT by SCCL and 11.04 MT by Captive & Other mines.
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The overall domestic coal dispatch rose 18.83 per cent Y-o-Y to 75.11 MT in August 2023 as against 63.21 MT August 2022. It includes 59.01 MT by CIL, 5.36 MT by SCCL and 10.74 MT by Captive & other mines.
Overall domestic coal supply to the Power Sector in August 2023 by CIL and SCCL stood at 51.93 MT as against 46.92 MT in August 2022.