Coal India Limited (CIL) aimed to achieve, or come close to, its ambitious annual production target of 875 million tonnes for the current fiscal year, said its Chairman and Managing Director Sanoj Kumar Jha. Speaking on Sunday, Jha said the company was determined to recover from recent output disruptions caused by heavy monsoon rains and subdued industrial demand. “I cannot say we will fully achieve the target, but we will certainly strive to reach as close as possible,” he stated during an event marking Hindustan Copper’s 59th Foundation Day.
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Production Dipped Amid Weak Demand
CIL, the world’s largest coal producer, fell short of its production goals in September and October, recording a 9.8% decline in October output to 56.4 million tonnes compared to the same period last year. September production had also dropped to 48.9 million tonnes. Jha attributed the fall to prolonged rainfall and reduced power sector demand. However, he assured that the company’s coal stock levels would surpass last year’s figures by the end of this fiscal, ensuring steady supply to power and industrial consumers.
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Market Outlook and Management Transition
Jha, who assumed charge as CMD on 1st November, marked a major leadership change at CIL. Market observers have responded positively to his pragmatic approach. Brokerage Motilal Oswal maintained its Buy rating on the company’s stock, predicting a return to its 52-week high of Rs. 440 per share. With production expected to accelerate in the coming months, CIL’s management plans to balance operational efficiency with market stability, positioning the company for a stronger close to the fiscal year.
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