As we discussed in Commodore Research's most recent Weekly Executive Report, Coal India produced approximately 77.8 million tons of coal last month. This marks a month-on-month increase of 5.4 million tons (8%) but a year-on-year decrease of 600,000 tons (-1%).
Offtake (the amount sent to customers) totaled 68.6 million tons, which is unchanged from December and up year-on-year by 1 million tons (2%). Offtake has now come in less than production during each of the last four months. Prior to this period, offtake had exceeded production for six straight months.
With offtake again coming in under production, Coal India’s stockpiles have climbed further. The stockpiles now stand at approximately 86 million tons, which marks the highest level seen since April.
