State-owned Coal India Limited (CIL) said its e-auction sales registered a growth of 52.5 per cent at 21.5 million tonnes (MT) in the first two months of the ongoing fiscal year, FY 22. CIL’s total allocated quantity under the five auction windows was at 14.1 MT in April-May 2019-20, the coal behemoth said in a statement.
Demand from Coal India’s e-auction sales have started looking up after it had dived down for most of the time during last fiscal. Although both the fiscals have been reeling under the pandemic crisis, demand this fiscal has picked up, enabling CIL to garner 16 per cent add-on over the notified price during April-May compared to 7 per cent during the same period last fiscal.
During the two months of this fiscal, the non-power sector primarily drove the upward trend accounting for 50 per cent of the total booked quantity of 21.5 MT.
The company’s total allocated quantity this fiscal year till May 2021 moved up to 21.5 MT, under the five auction windows, Coal India added. With the demand for coal gathering steam, CIL could garner 16 per cent add-on over the notified price during April-May compared to seven per cent of same period last financial year.
The upward trend in the allocation was primarily driven by non-power sector which evincing a healthy appetite for the dry fuel accounted for 50 per cent of the total booked quantity of 21.5 MT.
Under exclusive auction for the non-power sector, booking was at 10.8 MT during the period, posting 77 per cent growth against 6.1 MT booked during comparable period last fiscal . Power sector e-auction booking also grew by 49 per cent at 6.1 MT under ‘special forward auction’ meant exclusively for the said sector. Even allocation during April-May last fiscal under the special forward e-auction window was kept as low as 4.1 MT.
Auction allocation under ‘spot auction’ window, where all coal consumers including coal traders could participate, also clocked 35 per cent growth at 4.6 MT ending May. CIL scripted an all-time high of 124 MT in e-auction sales in FY21 posting 88 per cent growth over the preceding year.