Coal India Operationally Lower On Provisioning: Motilal Oswal
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Motilal Oswal Report
Coal India Ltd.’s result reflects broad recovery in power demand (albeit aided by the low base of last year).
Off-take rose 9% YoY in Q3 (versus 8% YoY decline in H1). Operationally, though, Ebitda (excluding - overburden removal) declined 5% YoY on lower e-auction realizations and provisions.
Muted power demand has impacted e-auction realizations and overall growth in off-take.
However, with recovery in power demand and a large cash position, the company can tide over the situation.
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