Coal India Ltd. share price target

months. However, that is largely led by equally weak base. We expect growth to taper off to 7% November onwards due to improved base. In spite of attractive on valuations (EV/EBITDA at 2.5x FY22e), stock would continue to...

Consolidated revenue during the quarter increased 14.6% QoQ supported by FSA revenue (+9.9% QoQ) with recovery in both sales volume (+5.8% QoQ) and realized prices (+3.9% QoQ). Realization...

YTD, both production, offtake remains broadly flattish YoY In the current fiscal (YTD), Coal India witnessed a flattish trend in both production and offtake volumes. During April-October 2020 (YTD), CIL production volume was at 283 MT (up 1.0% YoY) while offtake volume during the aforesaid period was at 306 MT (marginally down 3% YoY). Going forward, for FY21E and FY22E, we model an offtake volume of 600 MT and 625 MT, respectively. For FY20, production volume was at 602 MT (down 1%...

Q1FY21 revenue from operations drop 31.8% YoY to Rs. 17,007cr, owing to lower demand from power sector, as commercial establishments such as offices and factories largely remained shut during the quarter owing to lockdown. FSA revenues of raw coal went down 22.2% YoY at Rs. 13,896cr as sales volume registered a 21.6% YoY decline to 102.2mt. However, average FSA realizations decreased marginally to Rs. 1,360/ton (-0.8% YoY). Similarly, E-Auction revenue of raw coal took a hit reaching Rs. 2,535cr (38.2% YoY) due to lower sales volume of 15.87mt (-16.7% YoY) and lower average realization of 1,598/ton. The washed coking coal revenue fell 47% YoY to Rs. 177cr during the quarter, due to lower sale volume of 0.3mt (-35.4% YoY) and decrease in...

YTD, both production, offtake remain lower YoY In the current fiscal (YTD), the company witnessed a muted trend in both production and offtake volumes. During April-August 2020 (YTD), CIL reported production of 195.5 MT (down 7.0% YoY) while offtake during the period was at 208.4 MT (down 13.4% YoY). During the current fiscal, August 2020 is the only month where the company was able to report growth in production and offtake on a YoY basis. For August 2020, CIL's coal production increased 7.1% YoY to 37.2 MT (34.7 MT in August 2019) while...

Receivables fell 10% in August'20 v/s June'20 to Rs210bn Coal India (COAL) reported Q1FY21 EBITDA in line with our expectation. In spite of attractive valuations (EV/EBITDA at 2.5x FY22e), stock would continue to remain under pressure due to frequent stake sale by Govt and pressure on profitability in E-auction (contributes>50% of EBITDA) in light of weak global prices and sluggish demand. Release of additional supplies due...

5 September 2020 Coal Indias (COAL) 1QFY21 results highlight the impact of lower volumes/ e-auction realizations amid subdued thermal power demand. Adj. EBITDA (ex-OBR) was down 63% YoY. Muted power demand has impacted off-take and e-auction realizations. However, we expect Coal India to tide over the situation given its large cash INR190/share based on 3.5x Sep21 EV/EBITDA. 1QFY21 Adj. EBITDA (ex-OBR) was down 63% YoY to INR28b (in-line) on account of lower off-take/e-auction realizations. While FSA realization at INR1,359/t was below our est. INR1,400/t, it was offset by higher mix of e- auction volumes at 15.9mt (v/s est. Revenue declined 26% YoY to ~INR185b (v/s est.

During Q4FY20, The company has reported Consolidated total income to Rs.27,568.23 crore. Down by 3.56 % as compared to Q4FY19. Profit before tax (PBT) in Q4 FY20 stood at Rs 7447.40 crore, down by 16.2% from Rs 8892.35 crore in Q4 FY19. Tax expense fell 1.54% to Rs...

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...

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.