Mahanadi coalfields limited is a subsidiary of CIL (Coal India Limited) formed out of southeastern Coalfields Limited in 1992 with its headquarters at Sambalpur. The company has 18 operational mines of which 15 are open cast and 3 are underground mines located in Orissa. This coalfield limited got the status of Miniratna in Dec 2019. The company has a joint venture with Mahanadi Basin Power Limited (SPV), MJSJ Coal Limited, MNH Shakti Limited, and Mahanadi Coal Railway Limited. The company is used to producing non-coking coal for the power sector and the production capacity of the company has increased YOY, as MCL produced 96.34 MT (Million tonnes) of coal in FY 2008 - 2009 and now the quantity of production has reached 168MT in FY 2021-2022. A growth of 74% has been seen in production capacity. The increase in the coal production rate by the MCL may be due to the technology upgradation and Govt support to increase the power production of the country. Now the MCL has targeted to produce 197MT of coal in FY 2022-2023. The target claims a 13% growth in production capacity in FY 2023.
The target of achieving 13% growth seems to be quite tough for MCL. If we take the business-as-usual growth scenario, the CAGR of total coal production by MCL in the last five years is 4.1%. If we double the growth rate then the capacity will hover around 8.2% CAGR. The company needs heavy investments, more technology upgradation for mining, and more manpower to achieve the target. 
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