Prakash has got the final environment clearance for operating the coal mine. As per my reading of the press release, the coal will be available to them from the given mine during Q4’24 OR Q1’25. Please correct if my reading is incorrect
For me biggest question in my mind is - On what fixed assets they spent 458 Cr (which is about 22% of current market cap) from the cash of ~585 Cr they earned in FY23. And is that amount going to be required to be spent on-going basis?
Disc - Recently have sold out the holdings due to sharp run up. Will keep an eye on the counter though. I am most interested to understand - What quantity of coal they are able to sell in the open market.
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