BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Coal India Ltd. posted higher than expected production/offtake in September 2020 and consequently Q2 FY21.
For September 2020, production/offtake was 40.5 million tonne / 46.5 million tonne, up 31.6% / 31.7% YoY, while the figures for Q2 FY21 were 115.1mnte / 134.2mnte, up 10.6% / 9.6% YoY.
Thus, production/offtake recovered substantially from down 9.7% / down 18% YoY in 4M FY21 to reach 236mnte / 255mnte, down only 2% / 7.6% YoY, with Mahanadi Coalfields Ltd. and Northern Coalfields Ltd. outperforming among the subsidiaries.
Coal India's efforts in terms of over burden removal, higher e-auction volumes and import substitution makes us believe that if the positive trend continues until November 2020, the company may exceed our volume estimate of 580mnte for FY21E (it is confident of achieving 660mnte).
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
