Coal India May Output Dips 1.4% YoY, Offtake Falls 7.8%

State-owned mining behemoth Coal India Ltd (CIL) on June 2, 2025, announced its provisional production and off-take performance for May 2025 and for the cumulative period of April-May 2025. The Maharatna company reported a 1.4% year-on-year (YoY) decline in its consolidated coal production to 63.5 million tonnes (MT) for May 2025, down from 64.4 MT in May 2024. The company's consolidated coal off-take also experienced a more pronounced decrease, falling by 7.8% YoY to 64.0 MT in May 2025 from 69.4 MT in the corresponding month of the previous year.For the first two months of the financial year 2025-26 (April-May 2025), Coal India's cumulative production stood at 125.6 MT, a marginal dip of 0.5% compared to 126.2 MT produced during April-May 2024. Cumulative off-take for April-May 2025 was 128.5 MT, marking a 3.9% decrease from 133.7 MT in the same period of the previous fiscal year. The data was released in a regulatory filing to the stock exchanges in compliance with Regulation 30 of the SEBI (LODR) Regulations 2015.Coal Production Performance (Provisional)In May 2025, Coal India's overall production was 63.5 MT. While some subsidiaries showed growth, others experienced a decline, contributing to the slight overall drop. For the April-May 2025 period, the cumulative production was 125.6 MT, nearly flat compared to the previous year, indicating a mixed start to the fiscal year for its various mining operations.

Coal Production (Figs in Mill Te) (Provisional)Subsidiary Co.Actual May'25Actual Same Period Last Year (May'24)% Growth (May'25 vs May'24)Actual Apr'25-May'25Actual Same Period Last Year (Apr'24-May'24)

% Growth (Apr'25-May'25 vs Apr'24-May'24)

ECL4.03.92.9%8.07.8

2.2%BCCL3.13.7-18.0%6.47.1

-8.7%CCL6.26.7-7.7%12.112.8

-5.0%NCL12.412.12.5%24.623.9

3.0%WCL6.16.2-1.2%12.512.7

-1.0%SECL13.813.80.1%27.827.9

-0.4%MCL17.918.0-0.6%33.934.0

-0.3%NEC0.00.0147.1%0.10.0

160.0%CIL (Total)63.564.4-1.4%125.6126.2

-0.5%

Subsidiary-wise Production Analysis:Delving into the subsidiary performance for May 2025 production:

• Mahanadi Coalfields Limited (MCL) was the largest contributor with 17.9 MT, though this was a slight 0.6% YoY decrease from 18.0 MT. Cumulatively, for Apr-May'25, MCL produced 33.9 MT, down 0.3% YoY.
• South Eastern Coalfields Limited (SECL) produced 13.8 MT, nearly flat with a marginal 0.1% YoY growth. Its Apr-May'25 output was 27.8 MT, a slight dip of 0.4% YoY.
• Northern Coalfields Limited (NCL) reported a 2.5% YoY increase in production to 12.4 MT. For Apr-May'25, NCL's production grew by 3.0% YoY to 24.6 MT.
• Eastern Coalfields Limited (ECL) saw a 2.9% YoY rise in production to 4.0 MT. Its cumulative production for Apr-May'25 was 8.0 MT, up 2.2% YoY.
• Western Coalfields Limited (WCL) produced 6.1 MT, a 1.2% YoY decline. Cumulatively, WCL's output for Apr-May'25 was 12.5 MT, down 1.0% YoY.
• Central Coalfields Limited (CCL) recorded a 7.7% YoY drop in production to 6.2 MT. For Apr-May'25, CCL's production fell by 5.0% YoY to 12.1 MT.
• Bharat Coking Coal Limited (BCCL) experienced a significant 18.0% YoY decline in production, outputting 3.1 MT. Its cumulative production for Apr-May'25 was 6.4 MT, down 8.7% YoY.
• North Eastern Coalfields (NEC) reported production of 0.0 MT (likely rounded) in May 2025, same as last year, yet the company reported a 147.1% growth, suggesting a very low base. For Apr-May'25, NEC produced 0.1 MT against 0.0 MT last year, a 160.0% growth.

Coal Off-take Performance (Provisional)Coal India's consolidated off-take in May 2025 stood at 64.0 MT, a 7.8% decrease from the 69.4 MT recorded in May 2024. This indicates a reduction in coal dispatch to consumers, primarily power plants and other industries. The cumulative off-take for April-May 2025 was 128.5 MT, down 3.9% from 133.7 MT in the corresponding period of the previous fiscal year.

Off-take (Figs in Mill Te) (Provisional)Subsidiary Co.Actual May'25Actual Same Period Last Year (May'24)% Growth (May'25 vs May'24)Actual Apr'25-May'25Actual Same Period Last Year (Apr'24-May'24)

% Growth (Apr'25-May'25 vs Apr'24-May'24)

ECL4.24.5-6.2%8.48.6

-2.4%BCCL3.23.4-5.1%6.36.6

-4.6%CCL6.58.1-20.3%13.615.0

-9.2%NCL11.212.3-9.3%23.223.7

-2.3%WCL5.86.2-7.4%11.812.1

-2.5%SECL15.516.5-5.9%30.732.0

-4.0%MCL17.718.4-4.0%34.635.7

-3.1%NEC0.00.0-50.0%0.00.1

-60.0%CIL (Total)64.069.4-7.8%128.5133.7

-3.9%

Subsidiary-wise Off-take Analysis:The decline in overall off-take was reflected across most subsidiaries in May 2025:

• MCL led in off-take with 17.7 MT, but this was 4.0% lower YoY. Its cumulative off-take for Apr-May'25 was 34.6 MT, down 3.1% YoY.
• SECL dispatched 15.5 MT, a 5.9% YoY decrease. For Apr-May'25, SECL's off-take fell by 4.0% YoY to 30.7 MT.
• NCL's off-take was 11.2 MT, down 9.3% YoY. Cumulatively, for Apr-May'25, NCL's off-take was 23.2 MT, a 2.3% decrease YoY.
• CCL saw the steepest percentage decline in off-take among major subsidiaries, with dispatches falling 20.3% YoY to 6.5 MT. Its Apr-May'25 off-take was 13.6 MT, down 9.2% YoY.
• ECL's off-take decreased by 6.2% YoY to 4.2 MT. For Apr-May'25, its off-take was 8.4 MT, down 2.4% YoY.
• WCL reported an off-take of 5.8 MT, down 7.4% YoY. Cumulatively, WCL's off-take for Apr-May'25 was 11.8 MT, down 2.5% YoY.
• BCCL's off-take fell by 5.1% YoY to 3.2 MT. Its cumulative off-take for Apr-May'25 was 6.3 MT, down 4.6% YoY.
• NEC's off-take was 0.0 MT (rounded) in May 2025, a 50.0% decline from 0.0 MT (rounded) last year, again indicating a very small base. For Apr-May'25, NEC's off-take was 0.0 MT compared to 0.1 MT last year, a 60.0% decline.

Regulatory Disclosure and Market Context

The provisional operational figures were disclosed by Mr. B. P. Dubey, Company Secretary & Compliance Officer of Coal India Limited. This information is crucial for investors and market analysts as it provides an early insight into the company's operational efficiency and sales volume, which are key drivers of its financial performance. Coal India's production and off-take numbers are closely watched as the company accounts for over 80% of India's domestic coal output and plays a vital role in meeting the energy demands of the nation, particularly for the power sector.

The decline in both production and off-take in May 2025, and for the initial two months of FY26, might be a point of attention for stakeholders, pending further details on the reasons behind these trends, such as demand fluctuations, weather conditions, or logistical factors. The company's performance in the coming months will be critical in determining its trajectory for the fiscal year.

Coal India Limited's Scrip Code on BSE is 533278 and its ISIN on NSE is INE522F01014.