Q3FY24 Preview: Coal India: Revenue seen at ₹354,533 Million, PAT at ₹67,819 Million

8 Feb 2024 , 05:07 PM

Result date: February 12, 2024

Recommendation: Buy

Target price: ₹363

(Source: IIFL Research)

Coal India witnessed 10% sequential growth in its offtake during the December quarter. For the nine months ending 31^st December, 2023, the offtake grew 9% over the year-ago period. Blended realizations are expected to have declined on the back of lower e-auction prices. The company’s revenue could grow 8% sequentially and 10% over the year-ago quarter.

Profit After Tax or PAT could stay flattish both sequentially as well as over the year-ago quarter.

Important management insights to watch out for:

• Management guidance on FY24 and FY25 production
• Outlook on e-auction volumes and premiums

₹ Million	December 2023 estimates	QoQ change	YoY change
Revenue	354,533	8.40%	9.85%
EBITDA	85,008	4.55%	(0.80)%
Profit After Tax	67,819	0.30%	0.50%

Source: Brokerage reports