Quick and apt decisions are what helped Coal India Ltd (CIL) post a healthy volume and revenue growth, steering through a year when the industry faced a new crisis, of oversupply, instead of the usual situation of low supply.
Oversupply of coal, stocks in its warehouses and poor demand from the cash-strapped power distribution companies left CIL with over 40 million tonne (MT) of uncleared stocks. However, the coal ministry´s decision to resort to e-auctioning helped clear around 86 per cent of the coal put up for sale. CIL had surpassed 500 MT of production, to end 2015-16 at 536.51 MT.
Contact: Coal India Limited
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