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Coal India’s flat Q1 growth puts stiffer tagets of management a far cry from reality
Posted on 5th July 2019
State-owned Coal India Ltd (CIL) reported a near flat growth in production during the April-June quarter (Q1) this fiscal, although the top management was in favour of keeping a stiffer target despite the muted growth. The company reported a 0.1% growth in production to 136.96 million tonne (MT) in Q1, against 136.85 MT in the year-ago period.

Coal supply by CIL to power sector drops 3%in Apr-May
Posted on 1st July 2019
Supply of coal to the power sector by state-owned CIL declined by 2.6 per cent to 80.9 million tonnes in the first two months of the ongoing fiscal, Government data showed.

This comes amid coal imports rising 12.9 per cent to 235.2 million tonnes (MT) in FY’19 over 208.2 MT imported in FY’18.


Coal India to soon name merchant banker for Australian buy
Posted on 11th June 2019
In its quest for coking coal assets, government-owned Coal India Ltd is looking at acquiring a mine in Australia and will soon appoint a merchant banker to handle the transaction. The PSU board, which will meet here on June 19, will finalise the terms of the Notice Inviting Tender (NIT).

Currently, CIL is not able to met the entire demand for coking coal from local steel makers from its own mines and resorts to imports.


Coal India’s fourth quarter profit zooms to Rs 6,024 crore
Posted on 31st May 2019
Coal India on Thursday beat analyst estimates by reporting a whopping 362% year-on-year jump in its consolidated net profit to Rs 6,024.23 crore for the March quarter of FY19.

For the entire year, the growth in profit was 148% to Rs 17,462.18 crore as against Rs 7,038.44 crore in the last fiscal.


Coal imports to surge to a record in 2019, shipments will climb 11%: Adani
Posted on 10th May 2019
India’s thermal coal purchases are expected to surge to a record this year and remain robust through the next decade as domestic supply lags demand, according to the country’s largest importer.

Overseas shipments will climb almost 11% to 184 million metric tons during the financial year started April 1, and rise further to average about 200 million annually through the following decade, according Vinay Prakash, chief executive officer for coal and mining at Adani Enterprises Ltd.


CIL shuts underground mining with Centre push to convert all mines profitable
Posted on 26th April 2019
The Centre’s push to convert all Coal India Ltd (CIL) mines as profit-making mines has resulted in the closure of underground mines across subsidiaries since underground operations are not cost-effective.

The Centre’s push to convert all Coal India Ltd (CIL) mines as profit-making mines has resulted in the closure of underground mines across subsidiaries since underground operations are not cost-effective.


SECL crosses 150 million tonne coal production in FY19; first company in India to do so
Posted on 29th March 2019
The South Eastern Coalfields Ltd (SECL) has become the first company in the country to have crossed coal production figure of 150 million tonnes in a financial year. The SECL achieved the record during the 2018-19 fiscal and crossed the 150 million tonnes mark on March 20, a company official said.

CIL board approves second interim dividend of Rs 5.85 per share
Posted on 15th March 2019
New Delhi: State-owned CIL on Thursday said its board has approved second interim dividend of Rs 5.85 per equity share for the fiscal 2018-19.

"The board of directors in its meeting on March 14, 2019 approved payment of 2nd interim dividend for the financial year 2018-19 @ Rs 5.85 per share of the face value of Rs 10 as recommended by the audit committee of CIL in its meeting held on date," the PSU said in a filing to BSE.


Coal scam: ED attaches Rs 36.85-cr assets of MP-based firm
Posted on 13th March 2019
Assets worth over Rs 36 crore of a Madhya Pradesh-based company have been attached by the ED in connection with a coal blocks allocation scam case, the agency said on Tuesday.

It said a provisional order for attachment of properties like land, plant, machinery, office and factory buildings of Kamal Sponge and Steel Power Ltd (KSSPL), located in Rajasthan’s Jaipur and Satna in Madhya Pradesh, and its director Pawan Kumar Ahluwalia was issued by it on Monday under the Prevention of Money Laundering Act.


Analyst corner| Coal India: Maintain ‘hold’ with target price of Rs 243
Posted on 6th March 2019
Coal India’s shipments rose 3% year-on-year to 51.5 MT in February 2019. Key highlights: 1) shipments of large subsidiaries — MCL and SECL — rose 2% and 4%, respectively; 2) production grew 6.5% y-o-y to 58.1 MT led by MCL and SECL; and 3) pit-head inventory estimated at 35 MT as at February end, leading to improved coal availability. Going ahead, we expect: a) Coal India (CIL) to report 4.5% y-o-y growth in shipments in FY19; and 2) e-auction premium could dip, given the inventory build-up. Maintain ‘hold’ with `243 target price. The stock is currently trading at 9.5x FY21E EPS.

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