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Coal India: Uninspiring outlook  

With new coal mines getting auctioned and coal mining being opened up for the commercial sector, Coal India is likely to face competition from private players

June 30, 2020 / 12:18 PM IST
Coal India: Uninspiring outlook  

Coal India | Representative Image

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

FY21 has started on a subdued note for Coal India (CMP: Rs 135; Market capitalization: Rs 83,676 crore) with the Covid-19 outbreak and the subsequent lockdown’s effect on offtake. In April and May 2020, production and offtake were down by 11 percent and 24 percent year on year, respectively. Accordingly, we expect June 2020 quarter numbers to be affected. (image) Coal India’s March 2020 quarter numbers, however, were almost in line with the Street’s expectations, with the exception of net...

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