Coal India - Marked Improvement Across Key Variables: Prabhudas Lilladher
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Prabhudas Lilladher Report
Coal India Ltd. delivered marked improvement on three counts in August.
Resilient volumes despite lean month, continuous reduction in dues from state power generators and strong E-auction revenues were the highlight of month.
There are concerns that Coal India would be under pressure to divert high margin E-auction volumes to power utilities under linkage/fuel supply agreement due to increased power demand and low inventory at power plants.
We see no risk to its E-auction volumes as -
power demand would start receding in October,
seasonal increase in the company’s volume movement and
major chunk of auction volumes are already dedicated for power utilities.
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