Coal India - Coal Is Here To Stay: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.A quick supply ramp-up in October 2021 led to a 11.8% YoY increase in Coal India Ltd.’s offtake volumes and 19.2% YoY in seven months-FY22, placing it favorably to clock all-time high offtake volumes in FY22E. Key reasons behind the volume surge despite challenges arising from mine flooding in September-Oct-21, were: increase in power demand; critically low coal stocks at most power plants; unprecedented power prices on exchanges, all-time high global coal prices fueled by shortages in China, which forced Indian importers to look for domestic sources. Offtake of more than 1.8 metric tonnes per day in Oct-21 is continuing at present too, as power plants restock to cater to the anticipated demand surge post Diwali. Even assuming Coal India ends FY22E with 10% YoY growth, it will take the annual offtake volume to more than 635 million tonne, which is higher than consensus estimates. .Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Coal India - Coal Is Here To Stay: ICICI Securities

Coal India - Is Here To Stay: ICICI Securities

Choose a plan