Any current/future capex/capital investment/strategic investment?

Coal India plans capex of about Rs.15,500 to Rs.16,000 Crores for the current year (FY2022) and aims to increase it to Rs.17,000 Crores or beyond for FY2023. Major capex areas include coal evacuation infrastructure, road construction, and rail line construction to address coal evacuation challenges. Coal evacuation infrastructure projects worth Rs.20,000 Crores are progressing, with approximately Rs.18,000 to Rs.19,000 Crores coming directly from Coal India’s funds. These investments encompass FMC (Financial Management Contracts) projects (~Rs.7,000 Crores), railway lines (Rs.6,000-7,000 Crore

Future growth expectations in sales/revenue/volumes?

Coal India aims for production growth of about 10% next year, targeting around 700 million tonnes dispatch and production in that range. (Page 6) Current production has surpassed last year's levels despite challenges like heavy rainfall and COVID impact. (Page 3) E-auction volumes are expected to touch 110-115 million tonnes for the full year, up from 86 million tonnes till January. (Page 7) Incremental capex of Rs. 15,500-16,000 Crores planned this year with an increase to Rs. 17,000 Crores next year to improve coal evacuation infrastructure, supporting volume growth. (Page 9) Expansion of wa

Coal India LtdQ3 FY22Consumable Fuels

Coal India Ltd Q3 FY22 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹420P/E: 8.4Market Cap: ₹2.6L CrSector: Consumable Fuels

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

N/A

Order

N/A

Capex

Yes

1 of 3 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 3

Coal India aims for production growth of about 10% next year, targeting around 700 million tonnes dispatch and production in that range. (Page 6)
Current production has surpassed last year's levels despite challenges like heavy rainfall and COVID impact. (Page 3)
E-auction volumes are expected to touch 110-115 million tonnes for the full year, up from 86 million tonnes till January. (Page 7)
Incremental capex of Rs. 15,500-16,000 Crores planned this year with an increase to Rs. 17,000 Crores next year to improve coal evacuation infrastructure, supporting volume growth. (Page 9)
Expansion of washed coking coal capacity targeted by 2030, aiming to produce 15 million tonnes. (Page 15)
Growth in e-auction and non-FSA volumes expected as production rises, with more coal supplied to non-power and power sectors. (Pages 6,12)
Price hikes are being pursued urgently to sustain profitability alongside volume growth. (Pages 5,16)

Margin guidance

Category 3

- Coal India expects a production growth of about 10% in the next fiscal year, aiming to reach dispatches in the range of 700 million tonnes. - Q3 FY2022 results showed significantly better performance despite challenges like COVID and high rainfall. - Management is targeting production above 630 million tonnes for the current year and aiming for 640 million tonnes, which may positively influence earnings. - Price hikes are considered imminent, which should enhance profitability; efforts are ongoing to bring all stakeholders on board. - Improving e-auction volumes and favorable premiums (up to 100%) in January 2022 indicate good revenue prospects. - Capex of Rs. 17,000 Crores is planned next year, focusing on evacuation infrastructure to support production and sales, which can improve operational efficiency and profits. - Wage negotiations extend over FY2023, with expected increased wage provisions impacting costs but reflective of overall growth. Overall, Coal India plans to increase volumes and prices with infrastructure improvements, supporting earnings growth.

See what Coal India Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

- No explicit mention of new fundraising through debt or equity in the provided transcript. - Coal India is investing significantly in coal evacuation infrastructure projects (~Rs. 20,000 Crores), which includes equity investment by Coal India for certain projects like CERL, fully funded by Coal India (not partners' money). - No clear indication of plans for raising funds through fresh debt or equity issuances in the near term. - Management focused on capex completion over the next 2-3 years and operational expansion; no reference to equity fundraising or debt plans. - Discussions around buyback are ongoing but currently limited by tax structure; no buyback has been done. - Possible future listing of one or two small subsidiaries such as CMPDI or BCCL might happen depending on their financial strength, which could be viewed as a form of equity fundraising. In summary, there is no direct update on fresh fundraising via debt or equity.

Order book

The document does not explicitly provide details on the current or expected orderbook or pending orders for Coal India Limited. However, related information on ongoing projects and investments is available: - Coal India is progressing with coal projects aggregating around 700 million tonne capacity expansion, expected to materialize over the next 4 to 5 years (not less than 5 years). - After completion, Coal India aims for a production capacity of about 1200 to 1300 million tonnes by 2030, from the current capacities. - The company is investing substantially in coal evacuation infrastructure projects with a total capex of about Rs. 20,000 Crores, where Coal India’s own investment is around Rs. 18,000 to 19,000 Crores. - These investments are expected to support increased coal evacuation and production growth. No specific figures on orderbook or pending orders are mentioned in the provided transcript excerpts.

See what Coal India Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

Coal India plans capex of about Rs.15,500 to Rs.16,000 Crores for the current year (FY2022) and aims to increase it to Rs.17,000 Crores or beyond for FY2023.
Major capex areas include coal evacuation infrastructure, road construction, and rail line construction to address coal evacuation challenges.
Coal evacuation infrastructure projects worth Rs.20,000 Crores are progressing, with approximately Rs.18,000 to Rs.19,000 Crores coming directly from Coal India’s funds.
These investments encompass FMC (Financial Management Contracts) projects (~Rs.7,000 Crores), railway lines (Rs.6,000-7,000 Crores), and sidings (Rs.4,000-5,000 Crores).
Coal India is also focused on expanding washed coking coal production by constructing new washeries by 2030.
No major diversification into ethanol or carbon capture projects currently, though potential opportunities are being explored.
They are not considering major corporate restructuring but may list some subsidiaries like CMPDI or BCCL to unlock value.

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