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Revenue
₹36,154 Cr
verified against source
Revenue YoY
5%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Coal India reported a strong Q3 FY24 with highest-ever nine-month revenue of INR 104,914 crore (+5% YoY) and PAT of INR 23,849 crore. Production grew 11% YoY to 531.9 MT, driven by robust demand from power plants and improved logistics. Management maintained FY24 production guidance of 780 MT (likely ~770 MT due to SCCL lag) and set FY25 target at 838 MT. E-auction premiums moderated to 36-48% in Jan-Feb from Q3's 116% due to higher domestic availability. CAPEX guidance for FY25 is INR 17,500 crore, funded largely through internal accruals. Key risks include potential further decline in e-auction premiums and execution challenges in SCCL's ramp-up.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects to achieve ~770 MT production for FY24, slightly below the original 780 MT target due to SCCL lag, but with efforts to minimize the gap.
- Ministry has set a production target of 838 MT for FY25, down from initial 850 MT due to high coal stocks, with a review in April.
- CAPEX target for FY25 is INR 17,500 crore, including coal mining expansion, solar projects, and diversification initiatives.
- Management aims to maintain e-auction volumes at 15% or more of production, with potential to increase up to 20% if demand permits.
Risks flagged
- E-auction premiums have fallen sharply from 116% in Q3 to 36-48% in Jan-Feb, which could pressure realizations if the trend continues.
- SCCL is lagging its target by 8-9 MT due to land issues and EC clearances, posing a risk to overall production targets.
- Change in shipping activity adjustment accounting may lead to tax implications, though management expects limited net impact.
- Trade receivables increased from INR 13,000 crore to INR 17,000 crore, driven by delayed payments from power utilities, which could strain cash flows.
Key quotes
- We are kept at target. Another 39 days to go. 780 million tons is our target and we are all set to go.
- The premiums have started now actually getting away from the linkage with the imported coal prices.
- We are trying to pursue with all the agencies, whether it is NTPC, DVC. We are in continuous touch and we want to relay also.
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