Coal India Ltd. share price target

Coal India guides capex to the tune of | 15000 crore for FY18E Coal India has guided for a capex of | 15000 crore for FY18 (wherein | 8500 crore would be spent on conventional coal expansion initiatives while balance | 6500 crore would be towards new initiatives. Among new initiatives, the company is setting up a solar power plant with aggregate capacity of 1500 MW at a capex of | 4600 MW (In MP, Odisha, Chhattisgarh) (of this 200 MW is already completed). Also, | 400 crore is likely to be spent on Mahanadi coal field (2 x 800 MW thermal coal power...

Revenue grew by 13.5% to Rs. 23171.58 Cr in Q4FY17 when compared to the previous quarter.

has the world's largest coal reserve & is the largest producer. It controls ~80% of the Indian coal market.. The Co. is going to be the primary beneficiary of the structural deficit of coal in India. Moreover, it is one of the least cost producers of coal globally.. Its product portfolio consists largely of thermal coal (~97%) while the balance is coking coal. The...

Revenue increased by 25.95% to Rs. 19704.45 Cr in Q3FY17 when compared to the previous quarter. Also, it rose by 3.86% when compared with Q3FY16.

ICICI Securities Ltd | Retail Equity Research Coal India (CIL) reported broadly in line performance for Q3FY17 numbers. The performance was marked by a healthy increase in eauction realisation. Topline for the quarter was in line with our...

Coal Indias (COAL?s) 3QFY17 results beat estimates (EBITDA at Rs 39.6bn vs est 33.7 bn, -20% YoY), as e-auction volumes and prices were ahead of forecasts. E-auction volumes constituted 18% of the mix (vs 13% est, 671 bps YoY, 126 bps QoQ), while premiums were higher at 21% (vs 15% in 2QFY17, 46% in 3QFY16).

On the back of rise in global coking coal prices, two of the coking coal producing subsidiaries of Coal India, Bharat Coking Coal (BCCL) and Central Coalfield (CCL), have increased prices. BCCL has increased coking coal prices by ~20% over the current price while prices of steel grade and direct feed coal have been linked to price of washed coking coal fixed on import parity price. The increase in price was done by subsuming the washery recovery charge, which was being charged separately. CCL also increased coking coal prices wherein the increase in price was done by...

ICICI Securities Ltd | Retail Equity Research Coal India reported a subdued set of Q2FY17 numbers on account of higher than expected employee cost, muted e-auction realisations and lower than expected e-auction volumes. The topline broadly came in line with our estimate; however EBITDA, EBITDA margin and PAT came in notably lower than our estimate. The FSA volume during the quarter came in at 93.0 MT, while the FSA realisation stood at |1293/tonne up 4% QoQ (our estimate FSA...

ff Multiple Factors Drag Operating Margins: CIL's employee cost surged by 14.6% yoy to Rs84bn on account of large wage provision. On the back of higher other expenses (15.6%), contractual expenses (5.5%), stripping activity adjustment (Rs1bn), provisioning (Rs1.43bn) and flat other income (Rs14.1bn), the Company's EBITDA margins plunged by 1490bps yoy during the quarter. CIL's reported PAT pummelled by 77% yoy on account of sharp decline in e-auction ASPs and higher...

Coal Indias numbers were below estimates (EBITDA: Rs 3.2bn vs est Rs 21.1bn) as it got hit by multiple negatives: (1) Weakest e-auction pricing on record with premium vs FSA down to ~4% (vs 27% QoQ and 36% YoY), (2) provisioning for wage hikes (Rs 7.1bn) and (3) Weak volumes (116 mT, -5.0% YoY). The latter two are known and baked into our numbers with provisioning for wage hikes assumed at 15/10% for FY17/18.