Coal India will announce its results for the quarter ended March 2021 today. The state-owned coal mining company is expected to report a decline in profits and revenue dented by lower realisation.
"Blended realizations at Rs 1,449 per tonne (up 2.7 percent QoQ) in Q4 FY21 reflect continued weakness in e-auction realizations though offset by incentives recognised in the fourth quarter," said Kotak Institutional Equities.
The brokerage expects an 18.2 percent year-on-year decline in profit on a 7.3 percent fall in revenue. It sees a 25 percent decline in EBITDA (earnings before interest, tax, depreciation and amortisation) for the quarter.
Overall, the brokerages expect e-auction realizations to decline in double digits for the March quarter YoY. For Q4FY21, Coal India (CIL) reported coal offtake of 165 million tonne (MT), flattish YoY, though up 6 percent QoQ.
ICICI Securities expects consolidated topline to increase 8 percent QoQ but sees a 7 percent YoY decline in revenue. It expects the company to clock an EBITDA per tonne of Rs 350 per tonne (versus Rs 335 per tonne in Q3FY21 and Rs 410 per tonne in Q4FY20).
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According to Motilal Oswal and Dolat Capital, key things to watch out for would be a movement in receivables, e-auction volumes, demand from non-power customers, capex guidance for FY22, and any dividend announcement for the quarter.
Coal India share price has rallied 15.5 percent in 2021. In the last 12 months, the stock is up 18.6 percent.
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