Coal India Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for COALINDIA, BSE:533278 Coal India Ltd.

Coal India Ltd.

29 Jun 2020

399.35

1.27%

Coal India

Hold: Coal India Ltd.

Target

ICICI Securities Limited

Coal India (CIL) reported a mixed set of Q4FY20 numbers. EBITDA came in higher than our estimate while reported PAT came in lower than our estimate. PAT came in lower than our estimate on the back of higher-thanexpected effective tax rate. CIL reported sales volumes of 164 million tonne (MT), flattish YoY. Fuel supply agreement (FSA) sales volume was at 139.2 MT (142.4 MT in Q4FY19) while FSA realisation during the quarter was at | 1446/tonne (| 1460/tonne in Q4FY19). E-auction volumes were at 21.0 MT (16.7 MT in Q4FY19) while e-auction realisations were at | 2106/tonne (| 2754/tonne in Q4FY19). Total operating income was at | 27568.2 crore...

Coal India Ltd. has an average target of 459.38 from 8 brokers.

Coal India Ltd.

29 Jun 2020

399.35

1.27%

Subdued demand impacts off take; FSA real. strong

Buy: Coal India Ltd.

Target

Motilal Oswal

29 June 2020 Coal India (COAL)s results highlight the impact of lower e-auction realizations and flattish volumes amid subdued thermal power demand. FSA realizations, though, have continued the improvement demonstrated over the past year on account of better grade quality. Muted power demand would impact off-take and e-auction realizations in the near term. However, we expect Coal India to tide over the situation price of INR189/sh based on 3.5x Sep21 EV/EBITDA. ~INR66b) due to lower e-auction realizations and muted power off-take. The beat on our estimates was driven by better-than-expected FSA realizations and a higher mix of e-auctions in the off-take. Volumes were flat YoY at ~164mt (in-line). Cash cost (ex-OBR) decreased 1% YoY at INR981/t. FSA volumes declined 2% YoY to 139.2mt. Realizations came in higher grade realization. E-Auction volumes rose 26% YoY to 21mt. Conversely, realizations were down 24% YoY to INR2,105/t.

Coal India Ltd. has an average target of 459.38 from 8 brokers.

Coal India Ltd.

28 May 2020

399.35

1.27%

Focus on import substitution and OBR

Buy: Coal India Ltd.

Target

Motilal Oswal

28 May 2020 COAL has reduced production given the build-up in inventories at its own mines and power plants. Dispatches for COAL have increased over the past one week, even as power demand recovers and factories restart operations. As demand continues to recover and given the current focus on OBR, the company believes it would be in a better position to ramp up production. Of the ~170-180mt imported thermal coal in India, COAL plans to substitute ~100mt, thereby looking to improve off-take. ~18mt of coal has been auctioned and committed for off-take (as part of its import substitution drive). COAL has noted that it expects thermal power demand to continue at least for the next 10-15 years in the country. Accordingly, it plans to increase production to 1b ton over the next 3-5 years. While COAL is still finalizing its investment plan, it has set FY21 capex target at INR120b, which might increase in the coming years.

Coal India Ltd. is trading above all available SMAs

Coal India Ltd.

02 Apr 2020

399.35

1.27%

Dispatches decline even as production ramps up

Buy: Coal India Ltd.

Target

Motilal Oswal

2 April 2020 Coal Indias (COAL) dispatches declined 10.3% YoY to 53.5mt in Mar20 due to a sharp fall in demand from the power sector. Indias nation-wide lockdown comes at a time when (a) power demand has mines has been ramped up following a heavy monsoon season. Accordingly, inventories at both coal mines and power plants have risen (refer to Exhibits 1/2) a general trend at the onset of summer, but higher than usual. On the other hand, with Industrial and Commercial consumers accounting for nearly ~50% of Indias power demand, generation has been severely dented over the past one week. Furthermore, given the must-run status for renewables in the country, the brunt of the demand decline is being borne by coal-based plants. Generation from coal-based plants fell ~40% YoY over March 25 (Exhibit 4). On account of such a sharp demand drop and higher coal inventories at power +6.5% YoY) (Exhibit 5).

Number of FII/FPI investors increased from 668 to 687 in Jun 2025 qtr.

Coal India Ltd.

19 Feb 2020

399.35

1.27%

COAL INDIA LIMITED

Buy: Coal India Ltd.

Target

Geojit BNP Paribas

At current level, the company is attractively trading at ~2.6x FY22 EV/EBITDA and 5.3x FY22 P/E. We reiterate our BUY rating with a roll forward target price of Rs. 202 based on 3.5x FY22E EV/EBITDA. FSA sales volume boosts topline QoQ Coal India's Q3FY20 revenue grew 13.8% QoQ to Rs. 23,190cr (-7.4% YoY), primarily driven by higher revenue from FSA and other operating income, which increased 20.6% QoQ and 16.3% QoQ, respectively. E-Auction's revenue declined 17.5% QoQ (38.1% YoY) due to lower sale volume of 9.8mt (-36.5% QoQ; -32.8% YoY), partially offset by higher average realization at Rs. 2,623/t (+29.9% QoQ; -7.9% YoY). FSA's...

Number of FII/FPI investors increased from 668 to 687 in Jun 2025 qtr.

Coal India Ltd.

14 Feb 2020, 05:35PM

399.35

1.27%

Result Review- Coal India

Buy: Coal India Ltd.

Hem Securities

Coal India Ltd is the largest coal producing company in the world. The company also produces non-coking coal and coking coal of various grades for diverse applications. The company's customer include large thermal power generation companies, steel and cement producers and other industrial companies in the public and private sector with many...

Number of FII/FPI investors increased from 668 to 687 in Jun 2025 qtr.

Coal India Ltd.

13 Feb 2020

399.35

1.27%

Coal India

Hold: Coal India Ltd.

Target

ICICI Securities Limited

During the YTD current fiscal, CIL's production and offtake volumes witnessed a muted trend. One of the reasons for the same is extended monsoons. Production volume for the first 10 months (April-January 2020) of FY20 were at 451.5 million tonnes (MT) (down 3.9% YoY). Similarly, offtake volumes for April-January 2020 were at 473.3 MT (down 4.8% YoY). Going forward, we maintain our offtake volume assumption of 600 MT for FY20E and 625 MT for FY21E. CIL's offtake volume for FY19 was at 608 MT. EBITDA margins to hover around ~21-22%......

Motilal Oswal decreased Buy price target of Coal India Ltd. to 450.0 on 10 Sep, 2025.

Coal India Ltd.

12 Feb 2020

399.35

1.27%

Capacite Infraprojects (3QFY20): Recovery awaited. Maintain BUY

Buy: Coal India Ltd.

Recommendation Target

HDFC Securities

After 3 quarters of muted Rs 4bn revenue runrate, CIL is returning back to growth path. With Govt order book (49% in mix) moving into execution from 4QFY20, CIL will start delivering strong execution. EBIDTA margin expansion of 100-150bps may play out as number of sites is coming down and average order value is going up. Gross debt is stable at Rs 2.8bn though CIL needs to bring down unbilled revenue. We Maintain BUY. Key risks (1) Slowdown in real estate (2) Delay in debtors recovery & (3) Slowdown in Government Capex. Capacite Infraprojects Ltd (CIL) delivered Rev/EBIDTA/PAT beat of (1.2)/9.8/8% respectively. Despite this, headlines numbers remain weak, resulting in 15/3/5% cut to our FY20E Rev/EBIDTA/APAT estimate. We believe 3QFY20 execution has bottomed and recovery is expected from 4QFY20. We maintain BUY on CIL with an increased TP of Rs 360/sh (12.8x FY21E EPS).

Coal India Ltd. is trading above all available SMAs

Coal India Ltd.

12 Feb 2020

399.35

1.27%

Profit decreases on lower offtake

Buy: Coal India Ltd.

Target

Motilal Oswal

12 February 2020 Coal Indias (COAL) results highlight the impact of lower volume offtake amid subdued thermal power demand. FSA realizations though were higher YoY on account of increased share to non-power and better grade. Production at the companys mines has started to ramp up post heavy monsoon, and we expect offtake to improve as power demand recovers. The stock trades attractively at ~3x FY21E EV/adj. EBITDA and offers a dividend yield of ~10%. Maintain Buy with a target price of INR258/sh. EBITDA (ex-OBR) declined 22% YoY to ~INR62b (our driven better-than-expected realizations. Other income rose 21% YoY to decline in sales volumes. Volumes were down 8% YoY at ~142mt (in-line). FSA volumes declined 6% YoY to 127.7mt. However, realization was up 6% YoY at INR1,411/t due to higher non-power segment sales and better grade realized. E-auction volumes declined 33% YoY to 9.8mt.

Coal India Ltd. is trading above all available SMAs

Coal India Ltd.

11 Feb 2020

399.35

1.27%

Q3FY20 Result Update

Buy: Coal India Ltd.

Recommendation Target

Prabhudas Lilladhar

Volumes revived in Q4; low base to help volumes grow 5%+ in FY21E Coal India (COAL) reported Q3FY20 EBITDA in line with our expectation. Impacted by extended monsoon and local issues, volumes fell 8%YoY/6%YoY in Q3FY20/9MFY20. Volumes improved meaningfully December onwards with growth at 6% on the back of better condition of mines (after heavy rains), receding contractor and local level issues. In spite of weakness in E-auction...

Number of FII/FPI investors increased from 668 to 687 in Jun 2025 qtr.

Is Coal India Ltd. worth buying?

4595 Votes:

Buy 76.43%

Sell 12.14%

Hold 11.43%

RESEARCH REPORTS

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