Coal India - Volumes Continue To Recover: Motilal Oswal
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Motilal Oswal Report
Coal India Ltd. reported another month of strong offtake in dispatches, with volumes at 55.1million tonne, registering a 37.6% YoY increase in May 2021.
For the first two months of FY22, the company’s offtake now remains higher by 38% YoY.
Offtake growth in May 2021 comes on the back of:
1. a 15% rise in coal-based generation (based on initial data from Power System Operation Corporation Ltd.), amid a 7% rise in overall power demand, and
2. re-stocking of inventory at power plants (up 5 million tonne month-on-month).
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