{"id":360544,"date":"2020-07-01T11:46:11","date_gmt":"2020-07-01T06:16:11","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=360544"},"modified":"2020-07-01T12:26:03","modified_gmt":"2020-07-01T06:56:03","slug":"coal-india-rating-buy-weak-performance-in-the-final-quarter","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/coal-india-rating-buy-weak-performance-in-the-final-quarter\/","title":{"rendered":"Coal India rating: Buy \u2014 Weak performance in the final quarter"},"content":{"rendered":"<p>Coal India reported flat sales (164 mn tons) for Q4FY20 to end the year with a 4.3% y-o-y decline in dispatch volumes at 582 mn tons resulting in net income declining 4.4% y-o-y to Rs 167 bn in FY2020. A 15% decline in e-auction revenues as well as lower overall coal demand on account of the Covid-19 outbreak will likely weigh on the earnings trajectory in FY2021e. Maintain Buy and revise fair value to Rs 215\/share (from Rs 230\/share previously) based on March 2022e earnings, noting inexpensive valuations. <\/p>\n<p>Flat volumes and lower e-auction revenues continue to weigh on earnings <\/p>\n<p>CIL reported revenues of Rs 256 bn (-4% y-o-y, +19% q-o-q), Ebitda of Rs 47.5 bn (-25% y-o-y, +42% q-o-q) and PAT of Rs 46.3 bn (-23% y-o-y, +18% q-o-q).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Coal India reported flat sales (164 mn tons) for Q4FY20 to end the year with a 4.3% y-o-y decline in dispatch volumes at 582 mn tons resulting in net income declining 4.4% y-o-y to Rs 167 bn in FY2020. A 15% decline in e-auction revenues as well as lower overall coal demand on account of the Covid-19 outbreak will likely weigh on the earnings trajectory in FY2021e. Maintain Buy and revise fair value to Rs 215\/share (from Rs 230\/share previously) based on March 2022e earnings, noting inexpensive valuations. Flat volumes and lower e-auction revenues continue to weigh on earnings CIL [&hellip;]<\/p>\n","protected":false},"author":40,"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-360544","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\/360544","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\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=360544"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/360544\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=360544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=360544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=360544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}