Accumulate Coal India; target of Rs 425: P Lilladher

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26 Aug, 2025 12:21

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Prabhudas Lilladher's report on Coal India (CIL)

"CIL reported Q3FY15 earnings lower than our expectations. However, the miss was largely driven by higher than expected overburden (OBR) adj costs and provision/write-off. We maintain our earnings estimates for FY15/FY16 on the back of lower operational costs and increase in share of E-auction volumes. CIL remains our top pick with a strong play on Govt-led reform across the chain of its operations, uncompelling valuations and attactive dividend yield at ~5%. We maintain our ‘Accumulate’ rating with a PT of Rs 425, EV/EBITDA of 7x FY17E", says Prabhudas Lilladher research report.

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