October 3, 2025
Coal India share price target
The prospects for COAL remain strong. We estimate COAL's production to clock a 6% CAGR over FY24-27, with 15% dispatches via e-auction to result in higher NSR and better margins

Robust growth outlook and recent price hike to support earnings; valuation attractive

Robust domestic demand outlook

Valuation and view

 The prospects for COAL remain strong. We estimate COAL’s production to clock a 6% CAGR over FY24-27, with 15% dispatches via e-auction to result in higher NSR and better margins.

 The recent stock correction offers an attractive valuation, with the stock trading at 3.3x on FY27E EV/EBITDA, below its 10-year historical average. We reiterate our BUY rating with a TP of INR480/share, valuing the stock at 4.5x FY27E EV/EBITDA. COAL remains our top pick in the sector.

Coal India is the top pick in the sector, valuation attractive

Coal India share price target

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