Morgan Stanley has reiterated its overweight rating on Coal India with a target price of Rs 525, citing a strong operational performance in Q3 FY25. The company reported an EBITDA of Rs 123 billion, above the brokerage’s estimate of Rs 119 billion. Adjusted for overburden removal (OBR), EBITDA stood at Rs 104 billion, in line with expectations, with an EBITDA per tonne (adjusted for OBR) of Rs 537.
Net profit for the quarter was Rs 85 billion, falling 3% below estimates due to higher depreciation linked to the impairment of stripping assets at NCL. Coal India announced an interim dividend of Rs 5.6 per share, with a record date of January 31, 2025, reflecting continued shareholder returns.
Coal India Q3 Results
Coal India Limited reported its financial results for the third quarter of FY25, reflecting a decline in both revenue and profitability. The consolidated revenue from operations stood at ₹32,358.98 crore, down 2.0% compared to ₹33,011.11 crore in the same quarter last year. Net profit for the period was ₹8,491.22 crore, marking a 17.5% decline from ₹10,291.71 crore in Q3 FY24.
