{"id":301360,"date":"2019-11-18T12:01:51","date_gmt":"2019-11-18T06:31:51","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=301360"},"modified":"2019-11-18T12:01:51","modified_gmt":"2019-11-18T06:31:51","slug":"stock-corner-buy-coal-india-fsa-realisation-drove-performance-in-q2fy20","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/stock-corner-buy-coal-india-fsa-realisation-drove-performance-in-q2fy20\/","title":{"rendered":"Stock corner: \u2018Buy\u2019 Coal India, FSA realisation drove performance in Q2FY20"},"content":{"rendered":"<p>Coal India (CIL) posted higher-than-consensus Q2FY20 Ebitda of Rs 36.1 bn (down 8% y-o-y). Key highlights: (i) best-ever FSA realisation owing to higher supply to non-power consumers &amp; grade control; (ii) while e-auction volume fell 12% y-o-y, realisation slid 22% y-o-y; and (iii) receivable jumped 39% to Rs 76.4 bn compared to March 2019 level. Going ahead, we expect CIL to sustain the good performance as: (a) FSA realisation is expected to sustain at the current level owing to change in product mix; and (b) imminent pick-up in volumes. Taking cognisance of Q2FY20 performance, we raise FY20\/21e EPS by 4%\/3%. Maintain Buy with revised TP of Rs 235 (Rs 227 earlier). The stock is trading at 7.1x FY21e EPS.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Coal India (CIL) posted higher-than-consensus Q2FY20 Ebitda of Rs 36.1 bn (down 8% y-o-y). Key highlights: (i) best-ever FSA realisation owing to higher supply to non-power consumers &amp; grade control; (ii) while e-auction volume fell 12% y-o-y, realisation slid 22% y-o-y; and (iii) receivable jumped 39% to Rs 76.4 bn compared to March 2019 level. Going ahead, we expect CIL to sustain the good performance as: (a) FSA realisation is expected to sustain at the current level owing to change in product mix; and (b) imminent pick-up in volumes. Taking cognisance of Q2FY20 performance, we raise FY20\/21e EPS by 4%\/3%. [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[198,130,138],"tags":[],"class_list":["post-301360","post","type-post","status-publish","format-standard","hentry","category-coal-the-financial-express","category-newspapers","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/301360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=301360"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/301360\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=301360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=301360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=301360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}