Edelweiss has maintained buy rating on Coal India with a target price of Rs 160.
The stock ended down 0.4 per cent at Rs 139.40 on Wednesday while the BSE Sensex closed 1203.18 points down (-4.08 per cent) at 28,265.31. Coal India Ltd., incorporated in 1973, has a market cap of Rs 85908.43 crore.
Investment RationaleCoal India's March performance was a tale of two extremes with production surging 7 per cent year-on-year to 84 MT, which is the highest ever monthly level, and sales volume falling 10 per cent.
The brokerage said it finds Coal India attractive due to sound balance sheet and undemanding valuations.
FinancialsCoal India Ltd.
key Products/Revenue Segments include Other Operating Revenue which contributed Rs 618.91 crore to sales value (66.24 per cent of total sales) and Coal which contributed Rs 315.39 crore to sales value (33.75 per cent of total sales)for the year ending March 31, 2019.
For the quarter ended December 31, 2019, the company reported consolidated sales of Rs 21566.41 crore, up 13.59 per cent from last quarter sales of Rs 18986.50 crore and down -7.78 per cent from last year same quarter sales of Rs 23385.43 crore.
The company reported net profit after tax of Rs 3920.76 crore in the latest quarter.