Coal India Ltd

- Regarding fundraising, Mukesh Agarwal mentioned that the Board will take decisions on cost revisions, including wage revision, after finalization. - There was no direct mention of raising new funds through debt or equity in the transcript. - Mukesh Agarwal highlighted that cash balances are intended to be used for capex of around Rs. 80,000 crore planned over the next 4-5 years, implying reliance on internal accruals and equity for funding. - No explicit plans for fresh equity or debt issuance were disclosed in the discussion. - The focus appears on managing existing liabilities and using cash balance for ongoing and future capital expenditure. - Board decisions on cost and expenditure are pending, which may influence future funding needs.

- Annual capex guidance is around Rs. 20,000 crore for the next 3-5 years (Page 16). - Last year capex was Rs. 19,500 crore (Page 16). - Of this, cash capex was about Rs. 14,000 crore; including advances and other payments it totals Rs. 19,500 crore (Page 16). - Capex includes land, plant, machinery, and diversification projects such as coal gasification and critical mineral projects (Pages 16, 17). - Coal gasification project at SonepurBazari is in the bidding stage, with feasibility and project confirmation pending (Page 16). - Capex planned for coal gasification around Rs. 37,000-38,000 crore; thermal power generation Phase 1 about Rs. 15,000 crore (Page 15). - Capex will support production growth, diversification, and new mining equipment (Pages 15, 16). - High existing cash balance will be utilized for this capex as the OBR liability unwinds progressively over 3-5 years (Page 17).

- FY26 volume guidance is around 875 million tonnes, with potential to reach 900+ million tonnes in FY27. - Expected mid-teens/full double-digit growth in e-auction volumes (at least 10%, up to 20% target). - Demand growth driven by 2.5-3% growth in power sector coal consumption and increased non-power sector linkages. - Captive and commercial coal supplies expected to reach around 320 million tonnes by 2029-30. - Incremental production from new mines and long-term contracts for power/non-power sectors expected to support sustained demand. - Coal India aims to maintain 10-20% e-auction volumes to meet seasonal/cyclical market demand. - Ongoing infrastructure improvements (e.g., rail and silo enhancements) to support higher volumes. - Market premiums anticipated to stabilize between 30-40%, with actual prices difficult to forecast quarterly.

- The company expects a reasonably good growth in volumes and earnings, citing "mid-teens kind of" or "at least double-digit" growth in e-auction volumes (Page 18). - FY26 production guidance is 875 million tonnes, with projected growth supported by long-term contracts, rising demand especially in non-power sectors, and import substitution (Pages 13, 14, 18). - Employee cost softening is expected until wage revision in June 2026, providing margin support in the near term (Page 13). - Coal prices and e-auction premiums are expected to stabilize between 30-40%, with e-auction volumes targeted between 10-20% of production, supporting revenue growth (Pages 12, 18). - Capex of around ₹20,000 crore annually for next 3-4 years aims to enhance production capacity and diversification, contributing to future earnings growth (Pages 15, 16). - Challenges like input cost inflation and coal pricing volatility exist, but the overall outlook remains positive with sustained demand growth and improved logistics (Pages 5, 18).

- The investor meet transcript does not provide specific details on the current or expected order book or pending orders for Coal India Limited. - Discussion mainly revolves around production, e-auction volumes, coal demand outlook, pricing trends, and supply challenges. - Focus is on coal production guidance for FY26 (875 million tonnes) and FY27 (~900 million tonnes). - Challenges include sluggish demand in certain subsidiaries, stock liquidation, and meeting fuel supply agreements (FSA). - No explicit mention of order book or pending order figures was made.