Coal India reported 46 percent year on year growth in consolidated net profit at Rs 6,715 crore for the fourth quarter of FY22.
Coal India
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Coal India share price gained three percent in early trade on May 26 a day after the company announced results.
Coal India reported 46 percent year on year growth in consolidated net profit at Rs 6,715 crore for the fourth quarter of FY22.
On a sequential basis, profit jumped 47.4 percent. Consolidated revenues for the state owned coal producer rose 22.5 percent year on year to Rs 32,707 crore.
On a sequential basis, revenues were up 15 percent.
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Here is what brokerages have to say about the stock and company after March quarter earnings
Citi
Brokerage firm Citi has maintained a neutral rating on the stock but raised the target price to Rs 180.
E-auction realisations were below expectations. With environmental, social and governance concerns, significant re-rating might not be easy, CNBC-TV18 reported.
BofAML
The research house has kept a buy rating on the stock with a target of Rs 218.
EBITDA beat estimates on higher realisations, while thermal power generation was flat year on year.
The dividend yield was 11 percent while the decline in receivables is a positive, CNBC-TV18 reported.
Credit Suisse
The broking firm has kept an outperform rating on the stock and raised the target price to Rs 250 from Rs 225 per share.
FY23/24 EPS (earnings per share) estimates have been bumped up by 2/14 percent.
Volume growth and higher unit realisations should aid profitability and wage hikes and price changes in fuel supply pacts are key events, CNBC-TV18 reported.
Jefferies
The broking house has maintained a hold rating on the stock and raised the target price to Rs 175 from Rs 160 per share.
EBITDA was 18 percent above the estimate. The topline outlook has improved led by pickup in volumes and e-auction prices but higher staff cost due to workers’ wage revision should pose a headwind.
The valuation is reasonable, but long-term outlook remains uncertain, CNBC-TV18 reported.
At 09:20 hrs Coal India was quoting at Rs 181.65, up Rs 1.05 or 0.58 percent on the BSE.
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