Coal India Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 87634.00 Crore) operating in Mining sector.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 25963.12 Crore, down -7.19 % from last quarter Total Income of Rs 27974.12 Crore and up 34.72 % from last year same quarter Total Income of Rs 19271.83 Crore. Company reported net profit after tax of Rs 3175.22 Crore in latest quarter.
Investment Rationale
The brokerage maintains BUY rating, our DCF-based target price of Rs234, and offtake volume estimates for FY22E/FY23E at 625mnte/655mnte respectively. The stock is currently trading at 4.7x P/E and 2.4x EV/EBITDA on FY23E basis with 39.7% RoE. It expects dividend payout to be high, leading to 14% dividend yield at current prices, as incremental capex in diversified segments is expected to be funded primarily by debt.
Promoter/FII Holdings
Promoters held 66.1 per cent stake in the company as of June 30, 2020, while FIIs held 6.6 per cent, DIIs 21.5 per cent and public and others 5.8 per cent.
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