Motilal Oswal is bullish on Coal India recommended buy rating on the stock with a target price of Rs 185 in its research report dated August 12, 2021.
Broker Research
August 19, 2021 / 02:13 PM IST
“India’s specialty chemicals industry is a decadal growth opportunity and it is still not too late to participate in the value creation process. We prefer CRAMS/CSM players Navin Fluorine (Navin) and PI Industries (PI) as they provide long-term earnings visibility. We also like UPL due to robust growth outlook and reducing debt concerns and SRF due to rising contribution from the chemicals business,” JM Financial research report.
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Motilal Oswal’s research report on Coal India
COAL’s 1QFY22 result highlights the benefit of a recovery in Power demand, leading to improved offtake and profits. Adjusted EBITDA (excluding OBR) jumped 64% YoY to INR46b. We expect profitability to recover in FY22E (+24% YoY). Capex run-rate is likely to increase in the near term, but higher dispatches and some normalization in receivables should aid cash generation and maintain dividends (dividend yield: 12%).
Outlook
We reiterate our Buy rating with a TP of INR185/share, based on 4x FY22E EV/EBITDA.
For all recommendations report, click here
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