The miner is confident of achieving production target of 550 mt for the current year. It also has a production target of 910 mt by 2019-2020.
Government allowed Coal India to revert to the old system, removing the cap on e-auction volumes with effect from April 2015 which might boost the state-owned miner’s bottom line going ahead.
Speaking to CNBC-TV18, Bipin K Saxena, Director-Marketing, CIL said the company is looking to sell more coal via the e-auction route. The company is expected to sell 50-55 million tonnes (mt) in FY16 and is targeting 10 percent total sales via e-auction route.
The miner is confident of achieving production target of 550 mt for the current year. It also has a production target of 910 mt by 2019-2020. The company got an average of 195 rakes per day in FY15 and is confident of getting over 230 rakes per day in FY16.
Interview transcript to follow shortly
Coal India stock price
On April 08, 2015, at 11:07 hrs Coal India was quoting at Rs 377.10, up Rs 17.70, or 4.92 percent. The 52-week high of the share was Rs 423.85 and the 52-week low was Rs 277.00.
The company’s trailing 12-month (TTM) EPS was at Rs 6.97 per share as per the quarter ended December 2014. The stock’s price-to-earnings (P/E) ratio was 54.1. The latest book value of the company is Rs 26.04 per share. At current value, the price-to-book value of the company is 14.48.