CIL clocks 24.6% rise in rakes loading at average 312 rakes per day in March so far

State-run Coal India Ltd (CIL) on Saturday said it loaded an average 312 rakes per day in the current month, registering a growth of 24.6 per cent.

“For the month of March till 26th, CIL loaded an average of 312 rakes per day clocking a robust 24.6 per cent growth compared to same date of last March when the loading was 250.3 (rakes),” the PSU said in a statement.

Similarly, average loading to the power sector clocked 22.7 per cent growth in March so far at 269.2 rakes compared to 219.4 rakes in the same period last year.

After Coal India’s supplies shrunk by 21 per cent amid Covid-19 triggered downward spiral in the first quarter, the company bounced back strongly by registering 6 per cent growth from July 2020 onwards till now.

Progressive rake loading for the year as well till 26th March logged 10.5 pre cent growth at 240.8 rakes per day against 217.9 rakes in the year-ago period. Power sector loading was also up by 7 per cent during the year till March 26.

CIL could load 202.6 rakes per day during the year so far, against 189.3 rakes loaded same period last year.

Despite growth in rail mode loading and 2 per cent growth in merry-go-round, CIL’s supplies in volumes terms shrunk marginally compared to last year, primarily due to less lifting of committed quantity by power sector and reduced despatch through road mode during the pandemic lockdown resulting in a fall of around 32 per cent.

These two factors hit CIL’s supplies during the year.

However, with non-regulated sector customers showing a healthy appetite for coal, loading to the non-regulated sector (NRS) jumped up to a phenomenal 33.5 per cent growth during the year which is a five-year high.

NRS customers lifted 38.2 MT of coal during FY’21 till 26 March against 28.6 MT same period last year.

CIL has introduced a spate of measures to improve demand during covid slowdown.

These include waiver of performance incentives for power sector fuel suppy agreements (FSAs), allowing booking of the coal quantities not lifted for non-power sector FSA consumers in the subsequent months of the finanical year, extending payment schedule of coal value and lifting validity of the sale order, facilitating conversion of coal transportation mode from road to railway to auction route customers.

Accelerating its rake loading CIL loaded 372.5 rakes on 19 March, from its own sidings, the highest for any day so far during the ongoing fiscal. Of this, power sector accounted for 90 per cent at 335 rakes.

In the process five subsidiaries of CIL posted their highest ever loading since inception.