Coal India-Coal India Q1 PAT seen down 6% at Rs 3,935cr QoQ

Coal India is expected to report a fall of 6% (QoQ) in profits for the first quarter of FY12. During the period, profit after tax of the company is likely to go down at Rs 3,935 crore as against Rs 4,221 crore in the previous quarter.

Sales are seen going up 1% to Rs 15,150 crore from Rs 15,017 crore quarter-on-quarter.

EBITDA is likely to go down 4% to Rs 4,985 crore from Rs 5,195 crore during the same period.

EBITDA margin is seen declining to 32.9% in April-June quarter versus 34.6% in previous quarter.

Prices:

COAL had increased prices of specific product categories in February 2011 which is likely to boost the topline

Due to the revision of Coal Prices, CIL would generate approximate additional revenue of Rs 6200 crore in 2011-12

Liquidation:

Coal India was planning to evacuate 25 million tonne of coal in FY12

As on March 31, 2011, 69.17 million tonne of coal was accumulated on the pithead of CIL

During the period, April to June 2011, CIL was able to liquidate 9.73 million tonne

Production:

Missed production target by 2.3 mt mainly due to excessive rainfall, curfew and other disturbances

Achieved an output of just 96.3 million tonnes (MT) of coal versus production target of 98.6 MT

Targets to achieve 452 MT production for FY12 but they fell short of their target production of 440MT in FY11

In FY11 produced 431.325 MT and had blamed the slippage against the target to delays in the grant of clearance for its projects.