Q1FY24 Preview: Coal India: Revenue seen at Rs. 349,855 million, PAT at Rs. 67,830 million

7 Aug 2023 , 09:49 AM

Result date: 8^th August, 2023

Recommendation: Buy

Target price: Rs. 251

(Source: IIFL Research)

Coal India could register 2.20% growth in revenue over the year-ago quarter, amid meek growth in dispatches, which could be offset by falling coal price realizations. The company had implemented price hike for high-grade coal with effect from end of May 2023, which was set off by moderation in e-auction premiums.

Higher wage costs and lower e-auction premium could pull down EBITDA by 24.50% over the year-ago quarter. The low base of March 2023 quarter though could boost Coal India’s profitability on a sequential basis (one-time wage revision impact).

The company’s Profit After Tax (PAT) could fall 23.17% over the year-ago quarter, reflecting weakness in topline as well as operating profit.

Rs. Million	June 2023 estimates	YoY change	QoQ change
Revenue	349,855	2.20%	(5.83)%
EBITDA	84,894	(24.50)%	51.83%
Profit After Tax (Rs. mn)	67,830	(23.17)%	22.60%

Source: Brokerage Reports