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Change Change %
-2.25 -0.77%

Updated:23 Apr, 2018, 15:59 PM IST

Change Change %
-2.85 -0.98%

Updated:23 Apr, 2018, 16:01 PM IST

Research Report Detail

Report Date Call Price@Call Target Price
Stop Loss
Current Status Time Horizon
Reliance Securities
23-08-2017 Buy 239.80 301.00
Target Hit Long (1Y)

Reliance Securities maintains buy on Coal India

In line with our estimate, Coal India (CIL) has delivered a muted performance in 1QFY18 with its net profit declining by 23.3% YoY to Rs23.5bn. Further, its EBITDA fell by 17.8% YoY to Rs35.2bn primarily due to higher provisioning towards pending wage negotiations and weak Fuel Supply Agreement (FSA) realisations due to grade slippages. On a positive note, its consolidated revenue increased by 4.3% YoY to Rs205bn driven by 3.1% YoY rise in coal off-take, while average realisation remained flat on YoY comparison. Looking ahead, we expect CIL's RoE & RoCE to improve on the back of higher realisation, improvement in margins and optimum utilisation of assets.

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