Coal India's (CIL) capital expenditure at Rs 5,023 Crores ending first half of the ongoing fiscal capped an all-time high of 118 per cent utilisation against the provisioned target of Rs 4,247 Crores.
"This is a historic high in capex utilisation as CIL has not exceeded 30per cent target utilization in the first half of a fiscal so far. The previous three year average of H1 capex utilization has been around 20per cent," said a senior official of the company.
CIL during April-September’20 clocked a robust capex growth of 242 per cent compared to same period last year. The actual capital expenditure of Rs 5,023 Crores in the H1 was up by Rs 3,556 Crores against Rs 1,467 Crores in April-September'19.
Actual capex ending Q2 of the current fiscal at Rs 4,179 Crores was up by Rs 3,165 Crores compared to Rs 1,014 crores in the same quarter last year logging a whopping 312 per cent growth. In the Q2 as well CIL achieved 118 per cent utilization breaching the provisioned target of Rs. 3,527 Crores.
Recently the Government has asked CPSEs, including CIL, to speed up their capital expenditure to boost growth especially by the end of second quarter of FY’21. CIL’s capex spend during the H1 ended September’20 was a little over half of the entire FY 21 capex of Rs 10,000 Crores.