- 26 May 2022
- ICICIdirect Research
COAL INDIA REPORTS HEALTHY PERFORMANCE IN Q4FY22
COALINDIA - 410 Change: 1.20 (0.29 %)News: For Q4FY22, Coal India reported consolidated topline of | 32707 crore, up 22% YoY, 15% QoQ (higher than our estimate of | 31080 crore). Consolidated EBITDA for the quarter was at | 9079 crore (up 41% YoY, 33% QoQ), higher than our estimate of | 8555 crore. Consolidated EBITDA margin for the quarter was at 27.8% compared to 24.1% in Q4FY21 and 24% in Q3FY22 (our estimate: 27.5%). EBITDA/tonne for the quarter was at |504/tonne compared to |390/tonne in Q4FY21 and |393/tonne in Q3FY22 (our estimate |475/tonne). Consolidated other income for the quarter was at |1789 crore, up 46% YoY, 174% QoQ, higher than our estimate of | 675 crore. Ensuing consolidated PAT for the quarter was at | 6715 crore, up 46% YoY, 47% QoQ, higher than our estimate of | 6020 crore
Views: Coal India (CIL) reported a healthy performance for Q4FY22. For the quarter, CIL’s consolidated topline, EBITDA and PAT, all came in higher than our estimates. Better than expected FSA realisation aided CIL’s performance for the quarter. Also, consolidated PAT was supported by higher than expected other income. For Q4FY22, offtake volume was at 180 million tonnes (MT), up 9% YoY, 4% YoY (our estimate of 180 MT). FSA sales volume for the quarter was at 150 MT, up 13% YoY, 3% QoQ (our estimate: 150 MT) while FSA realisation for the quarter was at | 1474/tonne, up 6% YoY, 8% QoQ (higher than our estimate of | 1400/tonne). E-auction volume for the quarter was at 28 MT, up 6% QoQ but down 5% YoY (broadly in line with our estimate of 27 MT), while e-auction realisation for the quarter was at |2434/tonne, up 39% YoY, 25% QoQ (broadly in line with our estimate of | 2400/tonne)
Impact: Positive