Coal India Ltd Share Price – NSE  /  BSE

Mining & Mineral products, Mid Cap

Coal India will hold a meeting of the Board of Directors of the Company on 2 May 2024.

Powered by Capital Market - Live News

Coal India's (CIL) capital expenditure as whole has risen by 6.5% on year to Rs.19,840 crore ending FY 2024, the highest till date. Comparatively, the capex was Rs. 18,619 crore in the preceding fiscal year. CIL achieved 120% target satisfaction over the year's capex target of Rs. 16,500 crore. For the fourth fiscal on sequence CIL's capex breached the budgeted target.

With the company focusing on strengthening coal transportation and handling infrastructure in its mining areas, capex under this head was highest among others at Rs.6,070 crore, 30.6% of the year's capex spend. CIL is aiming to have adequate infra in place to evacuate increased quantities of coal produced in future. This includes setting up first mile connectivity projects with Coal Handling Plants and Silos; rail sidings, rail lines and roads. South Eastern Coalfields Limited (SECL) and Mahanadi Coalfields Limited (MCL) between them accounted for 65.4% of this head with Rs. 2,214 crore and Rs. 1,754 crore respectively.

Evincing a sharp upward swing on land acquisition and associated rehabilitation and resettlement, capex for land was Rs.5,135 Crores in FY 2024, the second highest, posting a jump of 52.5% over Rs.3,367 crore of FY 2023. CIL requires large tracts of land to enhance its production from OC mines which account for 96% of the company's total output.

CIL's three subsidiaries Central Coalfields Limited (CCL), SECL and MCL lined up 77.3% of the capex under land head. CCL led the list with Rs.1,909 Crores followed by SECL at Rs. 1,159 Crores and MCL, Rs.904 Crores. These three companies have sizeable production potential in future. Combined they are expected to contribute around 68% to CIL's 1 Billion Tonne output goal.

Procurement of heavy earth moving machinery (HEMM) made up the third highest head with Rs.3,078 Crores during FY 2024 achieving the target satisfaction of 156.5%. The target was Rs.1,965 Crores. Northern coalfields Limited alone took up Rs.2,262 Crores. In its technology and modernization drive, CIL continuously upgrades its mining fleet having larger capacities, better safety and ergonomic features.

The remaining capex amounting to Rs.5,557 Crores was spread among other heads which include solar projects, joint ventures, washeries, other plant and machinery, mine development activities including safety, environment, exploration & prospecting and office equipment etc.

Powered by Capital Market - Live News

Coal India Ltd is up for a fifth straight session today. The stock is quoting at Rs 446.65, up 0.26% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.15% on the day, quoting at 22467.75. The Sensex is at 74089.06, up 0.29%. Coal India Ltd has slipped around 3.04% in last one month.

Meanwhile, Nifty Energy index of which Coal India Ltd is a constituent, has slipped around 2.88% in last one month and is currently quoting at 39704.55, down 0.58% on the day. The volume in the stock stood at 96.75 lakh shares today, compared to the daily average of 116.31 lakh shares in last one month.

The benchmark April futures contract for the stock is quoting at Rs 448.85, up 0.23% on the day. Coal India Ltd is up 100.74% in last one year as compared to a 27.97% jump in NIFTY and a 73.84% jump in the Nifty Energy index.

The PE of the stock is 17.17 based on TTM earnings ending December 23.

Powered by Capital Market - Live News

Coal India recorded coal production of 88.6 million tons in month of March 2024 compared to 83.5 million tons in March 2023, recording a growth of 6.1%. The company achieved offtake of 68.8 million tons in March 2024 compared to 64.2 million tons in March 2023, recording a growth of 7.2%.

For FY2024, coal production stood at 773.6 million tons (higher by 10%) and offtake was 753.5 million tons (higher by 8.5%).

Powered by Capital Market - Live News