{"id":159108,"date":"2024-02-22T11:18:06","date_gmt":"2024-02-22T16:18:06","guid":{"rendered":"https:\/\/44.250.171.167\/?p=159108"},"modified":"2024-02-22T11:18:08","modified_gmt":"2024-02-22T16:18:08","slug":"coal-india-ltd-q3-fy24-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/coal-india-ltd-q3-fy24-earnings-conference-call-insights\/","title":{"rendered":"Coal India Ltd Q3 FY24 Earnings Conference Call Insights"},"content":{"rendered":"<p><strong>Key highlights from Coal India Ltd (COALINDIA) Q3 FY24 Earnings Concall<\/strong><\/p>\n<ul>\n<li><strong>Nine-Month Financial\/Operational Performance<\/strong>\n<ul>\n<li>Revenue from operations at INR 1,04,914 crores, up 5%.<\/li>\n<li>Highest ever net sales, up 4%.<\/li>\n<li>Highest ever PBT at INR 31,937 crores, up 5%.<\/li>\n<li>Highest ever PAT at INR 23,849 crores.<\/li>\n<li>Highest ever coal production at 531.90 million tonnes.<\/li>\n<li>Capex at INR 5,702 crores.<\/li>\n<li>On track to achieve target of INR 16,500 crores in FY 2023-24.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Coal Production Target<\/strong>\n<ul>\n<li>Likely to achieve 770-780 million tonnes in FY24.<\/li>\n<li>5 subsidiaries ahead of targets, but SECL may have 8-9 million tonne shortfall.<\/li>\n<li>Targeting 10%+ growth for next year at 838 million tonnes.<\/li>\n<li>E-auction coal volumes were 13% of total in January 2023, increased to 17% by mid-February.<\/li>\n<li>Expect to hit 15% target for second half of FY24.<\/li>\n<li>Could reach 20% by March 2024 as production ramps up.<\/li>\n<li>Coal India aiming for 1 billion tonne production level.<\/li>\n<li>Demand expected to grow with 80,000 MW new power plants by 2030.<\/li>\n<\/ul>\n<\/li>\n<li><strong>CIL Financial Outlook<\/strong>\n<ul>\n<li>Strong profit and dividend payouts to continue.<\/li>\n<li>Well placed to sustain momentum despite market uncertainties.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Business Expansion Plans<\/strong>\n<ul>\n<li>Well prepared through advanced procurement and capacity building.<\/li>\n<li>Investing in latest technologies for efficient, sustainable operations.<\/li>\n<li>Confident of mitigating risks and uncertainties.<\/li>\n<li>Participating in upcoming auction for 3 exploration blocks in India.<\/li>\n<li>Also exploring opportunities in Australia currently.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Capex Targets<\/strong>\n<ul>\n<li>INR 17,500 crores targeted for FY24 and FY25 that includes land acquisition, railway lines, and coal gasification projects.<\/li>\n<li>Coal mine expansion funded through internal accruals.<\/li>\n<li>Renewable energy and diversification may require some debt financing.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Strike Impact<\/strong>\n<ul>\n<li>Marginal impact from one-day strike by some unions.<\/li>\n<li>80-95% production achieved during strike.<\/li>\n<li>Strike related to national-level issues, not primarily Coal India.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Coal Price Outlook<\/strong>\n<ul>\n<li>Expected to stabilize at current levels for next year or so.<\/li>\n<li>Dependent on future events like hosting of Olympics, etc.<\/li>\n<li>Internal estimates suggest stable trend in coal prices.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Import Substitution<\/strong>\n<ul>\n<li>Around 50 million tonnes of coking coal imports likely to continue.<\/li>\n<li>Some coastal power plants designed for imported coal may continue imports.<\/li>\n<li>Target of 175-200 million tonnes of imported coal substitutable with domestic supply.<\/li>\n<li>High-grade coal from Coal India mines offered to non-regulated sectors like cement.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Washery Expansion<\/strong>\n<ul>\n<li>Madhuband washery commissioned recently, capacity 5000 TPD.<\/li>\n<li>Two more washeries in BCCL under construction.<\/li>\n<li>Plans to increase washed coking coal production from 1.5 MT to 6-7 MT by FY27.<\/li>\n<li>10 MT Lakhanpur non-coking coal washery commissioned.<\/li>\n<li>Target of 8 MT washed coking coal by FY30.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Coal Price Revision<\/strong>\n<ul>\n<li>No proposal currently to revise coal prices under Fuel Supply Agreements.<\/li>\n<li>Last revision was an 8% increase for G1 to G10 grades in 2018.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Outlook<\/strong>\n<ul>\n<li>Expected to increase to around INR 18,000-18,500 crores in FY26.<\/li>\n<li>Capex likely to rise sharply initially during project start, then stabilize.<\/li>\n<li>Optimistic about maintaining double-digit production and dispatch growth in FY24.<\/li>\n<li>Efforts to make up for any shortfall from other subsidiaries.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from Coal India Ltd (COALINDIA) Q3 FY24 Earnings Concall Nine-Month Financial\/Operational Performance Revenue from operations at INR 1,04,914 crores, up 5%. Highest ever net sales, up 4%. Highest ever PBT at INR 31,937 crores, up 5%. Highest ever PAT at INR 23,849 crores. Highest ever coal production at 531.90 million tonnes. Capex at [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":154818,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,392,5746],"tags":[9766,9767,10169],"class_list":["post-159108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-energy-stocks","tag-coal","tag-coal-mining","tag-earnings"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":156642,"url":"https:\/\/alphastreet.com\/india\/nmdc-limited-q2-fy24-earnings-conference-call-insights\/","url_meta":{"origin":159108,"position":0},"title":"NMDC Limited Q2 FY24 Earnings Conference Call Insights","author":"Praveen","date":"November 24, 2023","format":false,"excerpt":"Key highlights from NMDC Limited (NMDC) Q2 FY24 Earnings Concall Production and Sales Growth Q2 production 25% higher than last year. 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