Offtake to grow at CAGR of 3.4% in FY19-21E For Q4FY19, FSA sales volumes came in at 142.4 MT (up 12.7% YoY, 4.9% QoQ). FSA realisation during the quarter was at | 1460/tonne (vs. | 1403/tonne in Q4FY18), higher than our estimate of | 1350/tonne. E-auction volumes were at 16.7 MT, up 13.7% QoQ, marginally higher than our estimate of 16.3 MT. E-auction realisations were down 3.3% QoQ to | 2754/tonne. For FY19, CIL reported a sales volume of 608.1 MT, up 4.8% YoY. Going forward, we model CIL's offtake volume of 625 MT for FY20E and...