Emkay Research: Buy | TP 600 Rs. (Oct 1 Report)
“Coal India’s production volumes tend to be seasonal with the second quarter of any fiscal year softer than the rest of the quarters. The seasonality factor has averaged 41.4%/58.6% for 1H/2H, historically . Essentially, the production of 341mt in 1H implies full-year production of 825mt adjusted for seasonality , which is marginally lower than our estimate of 830mt and the company’s guidance of 838mt for FY25.” – Emkay Research
Emkay says dont worry about productionn coming down in monsoon months. Coal India is on track to achieve its ambitious target of increased coal prodution this year. The best is yet to come. Q3 and Q4 will be better.
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