Coal India – Improvement In Operating Metrics Continue: Motilal Oswal


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Coal India Ltd. reported an improvement in its operating metrics, with output from open cast mines continuing to rise in overall output to 96% in FY22 from 95% in FY20, despite a 4% growth in total output.

Manpower productivity in both underground and open cast mines improved by 8%/7%. The manpower productivity at open cast mines now stands at 4,061t per employee. With the opening up of additional mega mines, manpower productivity is likely to improve substantially.

Given the energy crisis globally, Coal India has been diverting additional coal to the power sector, leaving lesser coal available for the non-regulatory sector.

In addition, reforms in the e-auction process has resulted in a consolidation of five e-auctions into a single e-auction for end-users. This, in turn, has led to a substantial hike in premium since March 2022. Premiums have shot up more than 290% since the introduction of unified e-auction.

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