BSE: 533278 | NSE: COALINDIA | Mining & Minerals | Large Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Coal India Ltd is a good quality company.
The key valuation ratios of Coal India Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Coal India Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 51.8% | 56.9% | 46.8% | 45.5% | 108.7% | 73.1% | 46.1% | 54.4% | 78.9% | 64.5% | - |
| Value Creation Index ⓘ | 3.6 | 4.1 | 3.2 | 3.0 | 8.7 | 5.5 | 3.1 | 3.8 | 6.0 | 4.7 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 92,270 | 1,04,642 | 1,19,264 | 85,476 | 99,959 | 96,283 | 90,233 | 1,09,941 | 1,38,506 | 1,42,613 | 1,27,064 |
| Sales YoY Gr. | - | 13.4% | 14% | -28.3% | 16.9% | -3.7% | -6.3% | 21.8% | 26% | 3% | - |
| Adj EPS ⓘ | 21.7 | 22.6 | 15 | 11.3 | 28.4 | 27.1 | 20.6 | 28.2 | 51.6 | 60.7 | 55.9 |
| YoY Gr. | - | 4% | -33.8% | -24.5% | 150.9% | -4.3% | -24.1% | 36.8% | 82.9% | 17.7% | - |
| BVPS (₹) ⓘ | 63.9 | 55.2 | 39.5 | 32.5 | 42.9 | 52.2 | 59.3 | 70 | 98.7 | 134.2 | 156.1 |
| Adj Net Profit ⓘ | 13,732 | 14,283 | 9,284 | 7,017 | 17,472 | 16,723 | 12,696 | 17,374 | 31,772 | 37,386 | 34,437 |
| Cash Flow from Ops. ⓘ | 14,382 | 13,154 | 16,461 | 21,115 | 16,356 | 4,977 | 10,592 | 41,107 | 35,734 | 18,103 | - |
| Debt/CF from Ops. ⓘ | 0 | 0.1 | 0.2 | 0.1 | 0.1 | 1.3 | 0.6 | 0.1 | 0.1 | 0.4 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 5% | 7.4% | 16.5% | 3% | ||||
| Adj EPS ⓘ | 12.1% | 16.4% | 43.3% | 17.7% | ||||
| BVPSⓘ | 8.6% | 25.6% | 31.3% | 36% | ||||
| Share Price | -0.2% | 14.7% | 32.4% | -3.6% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 33.2 | 38 | 31.3 | 31.4 | 74.9 | 57.1 | 37 | 43.6 | 61.1 | 52.1 | 38.5 |
| Op. Profit Mgn % ⓘ | 18.3 | 16.8 | 9.9 | 10.2 | 25 | 22.4 | 20.4 | 22.5 | 29.3 | 29.2 | 36.7 |
| Net Profit Mgn % ⓘ | 14.9 | 13.7 | 7.8 | 8.2 | 17.5 | 17.4 | 14.1 | 15.8 | 22.9 | 26.2 | 27.1 |
| Debt to Equity ⓘ | 0 | 0 | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 | - |
| Working Cap Days ⓘ | 120 | 133 | 136 | 138 | 125 | 158 | 207 | 179 | 154 | 170 | 157 |
| Cash Conv. Cycle ⓘ | 48 | 44 | 41 | 19 | -15 | -3 | 27 | 13 | 5 | 9 | 71 |
Sales growth is growing at healthy rate in last 3 years 16.48%
Net Profit is growing at healthy rate in last 3 years 43.33%
Return on Equity has declined versus last 3 years average to 38.50%
Sales growth is not so good in last 4 quarters at -3.32%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 27.9 | 55.9 |
| TTM Sales (₹ Cr.) | 191 | 1,27,064 |
| BVPS (₹.) ⓘ | 29.9 | 156.1 |
| Reserves (₹ Cr.) ⓘ | 12,284 | 90,034 |
| P/BV ⓘ | 12.54 | 2.40 |
| PE ⓘ | 13.45 | 6.72 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 361.30 / 544.70 |
| All Time Low / High (₹) | 109.50 / 544.70 |
| Market Cap (₹ Cr.) | 2,31,349 |
| Equity (₹ Cr.) | 6,162.7 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 12.9 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Results: Coal India reported 37% growth in sales and 82% growth in Operating profit from previous year on low base. Comparing with FY19 numbers, it reported 2% growth in sales. Dividend yield is 8.7% p.a.
MoneyWorks4me Opinion: Sectors or companies reporting flat or declining sales are at risk of experiencing declining cash flows sooner or later. Coal India is in sector which will decline at a steady rate over next 10-15-20 years. In such companies, returns comes from high dividend yield as cash flows are paid out to shareholders but the downside risk comes from drop in stock price as market may anticipate decline faster than actual decline. We have seen this happening in paper or newspaper industry.
Companies like Coal India and Ongc may experience similar fate. We would advise against investing in them even if they are cheap as bulk of the current fair value assumes consistent high dividend payout on current numbers and zero terminal value at a later date. If cash flows decline, dividend yield will drop thereby lowering current fair value. So such companies can face their fair value coming down every year.
We recommend SELL on companies like Coal India, Oil India and ONGC. This doesn’t mean they can’t earn good returns, but the risk is too high for such return and with several better opportunities available, we recommend to give it a pass.
Our hypothesis while recommending Coal India was that increase in power generation will lead to increase in coal pick up and thus increase in Coal India’s revenues.
We expected even if Coal prices come down, the increase in volumes will compensate lower realization. However, it looks like Coal India is not reinvesting enough to increase its production.
Since our purchase of Coal India at 285-320, the stock has given Rs. 36/share in dividends. As on date stock trades at 270/share, the stock has not generated any returns since our call.
We recommend SELL and suggest to switch to better opportunity.
P.S. A portfolio must be held for the long term, which we define as at least 3-5 years atleast. However, this does not mean every stock will perform in each year. Our performance should be judged on the basis of the overall portfolio over 3-5 years at least, not on the basis of short-term performance of individual stocks. Diversified portfolio is a must for success in equity investing. Don't pick and choose but buy every opportunity as recommended. Uninvested cash should be parked in money market/liquid funds/fixed deposits earning 6-7% pre-tax returns.
Coal India has near monopoly in coal supply to power and non-power players in the country. More than 80% of coal is consumed in power generation. The company has one of the low cost operations across the world. However, the prices of Coal are regulated based on grade of coal, demand and international prices.
Currently, thermal power companies are operating at below sub-70% utilization on an average. The primary reason behind the lower utilization is lack of demand from SEBs which are in restructuring process under UDAY scheme. We expect the SEB demand to inch up over 12-18-24 months.
Coal India has seen fall in volumes in recent quarters due to high imported inventory with power generation companies. At the time when the international coal prices are inching upwards, Coal India realizations are not moving up due to 1-2 Quarter lags. Also, the anticipated wage hike further aggravated the decline earnings. This is worrying most of the analysts on the street. We understand their concern in short term.
But when we see over long term, we believe that power generation companies will operate at 80-85% utilization. Our optimism stems from the fact that Rural electrification is going on at accelerated pace and SEBs will soon be out of the woods once state takeover the debt burden from them. The rise in electricity demand will help in volume growth. The government has given Coal India an ambitious target of 1 billion tonnes i.e.15% CAGR over FY2020. We do not incorporate steep targets in our valuation. We assumed conservative estimates of volume growth of 7% CAGR based on growth in generation capacity and utilization growth. As the economic revival happens, the non-power demand going up with help improve blended realization per tonne. Non-power coal sales happen on e-auction basis which is at 20-30% higher realization. Higher volumes along with improved realization is likely lead to earnings growth of 10-12% earnings growth over 3-4 years due to favourable operating leverage. Adding cash ~60/share, we get MRP of ~400-440 at price to earnings of 12x. Add to it dividend yield of 4-5% we would likely get 14-15% CAGR over 3-4 years. The stock currently trades at 10-12x EPS. We do not see major downside over long term.
We are recommending allocation of 5% of overall portfolio. Please do not exceed the recommended allocation. The company has already given dividend of Rs. 27/share since our BUY call in Feb’16. Time your purchase with our 50%-70%-100% BUY notifications.
A portfolio must be held for the long term, which we define as at least 5-7 years. However, this does not mean every stock will perform in each year. Our performance should be judged on the basis of the overall portfolio over 2-3 years at least, not on the basis of short-term performance of individual stocks.
Please note Coal India has paid Rs27.4/share in interim dividend. At our average buy price of Rs. 295-300/share, the returns are 9-9.5% from Coal India. Please check your bank account for dividends.
On 14th January 2014 Coal India board of directors declared an Interim dividend of Rs 29. The ostensible reason to do this was the demand made by its largest shareholder i.e. President of India to meet the fiscal deficit target set by the Honourable Finance Minister. While the initial plan to meet this target was primarily through disinvestment of Government stake through FPO, given the strong opposition from workers union against further disinvestment, the Government used this route.
Contrary to most other Investment houses we are extremely positive on Mining and Minerals Company, given that they have surplus investable cash and low level of debts. This gives huge flexibility to management in buying out financially distressed but operationally strong assets around the world whenever the commodity is passing through a cyclical recession. However, while Coal India has the necessary financial capability it does not have the nimble footedness and agility needed to move in when a prospective asset is identified.
Nevertheless, the recent foray of other PSU mining companies like NMDC, ONGC, BPCL in buying foreign assets, allows us to believe that policy makers realise that India must emulate the Chinese experience in taking stake in foreign mining asset to ensure energy and mineral security for the country. However Indian government decision to use cash in the balance sheet of Coal India to fund its fiscal deficit targets points to a start of a very bad precedent. To put it in perspective Coal India TTM EPS is close to Rs. 26.27 and with an Interim dividend of Rs. 29, its dividend payout for this year is already above 100%. The right question to ask hence is:
Is this a one off event? At first glance it does appear to be a one off. However we believe that fiscal deficit problem has largely been structural in nature and is a direct result of social welfare policies pursued by Government of India. Most of these policies were framed assuming a sustainable 8-9% GDP growth rate with benign levels of Inflation (4-5%) which would indicate that tax revenues can keep growing at a healthy pace of 12-14% on an average. But with economy slowing down to 4-5% and high levels of sticky CPI at 9-10% most of these social problems like MNREGA, Fuel subsidy and Food subsidy, clearly look unsustainable at its current size.
While the dividend route has been recent and there is a good reason to think it will not be yearly feature, it must be noted that this is not the first time the government has resorted to such measures. Over last few years the most prominent way of bridging fiscal deficit has been
We believe that with this action government has added another arsenal to its list of how it plans to meet its fiscal deficit targets. This means from time to time Government will resort to such kind of asset stripping but not necessarily just of Coal India.
Silver lining to the dark cloud: Despite of the use of cash by government to fund its own fiscal deficit target, the nature of the method is not what one would call siphoning of cash. By using dividend method as a route (we prefer buyback generally to dividend route) it has at least seen to it that the interest of minority investor is not short changed in the process. Minority investors have equally benefited from the dividend announced by Coal India. One must just expect such kind of high dividend as non-periodic but recurring feature in future (we believe these steps are more likely in cash rich PSU companies during bearish periods of market and when there is strong opposition to divestment especially from Unions).
Summary: Neither do we believe this to be one off event nor we think this is a case of siphoning off money. However we do recognise that government would resort to such methods even in future. Till dividend or buyback is the preferred route we do not think that this raises a corporate governance issue. Nevertheless one has to recognize the fact that:
As a result we are as of now decreasing our MRP by Rs 29 in direct proportion to the high interim dividend declared by Coal India while keeping our Margin of Safety constant at 30%.
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 92,270 | 1,04,642 | 1,19,264 | 85,476 | 99,959 | 96,283 | 90,233 | 1,09,941 | 1,38,506 | 1,42,613 |
| Operating Expenses ⓘ | 75,391 | 87,065 | 1,07,533 | 76,745 | 74,994 | 74,703 | 71,849 | 85,248 | 97,958 | 1,00,948 |
| Manufacturing Costs | 27,383 | 30,668 | 32,566 | 23,529 | 24,703 | 24,864 | 27,731 | 32,621 | 41,510 | 44,010 |
| Material Costs | -530 | -1,444 | -1,238 | 1,679 | 856 | -982 | -2,069 | 2,412 | -199 | -1,522 |
| Employee Cost | 29,863 | 30,127 | 33,523 | 42,622 | 38,773 | 39,404 | 38,592 | 40,473 | 49,410 | 48,783 |
| Other Costs ⓘ | 18,676 | 27,715 | 42,682 | 8,914 | 10,662 | 11,416 | 7,594 | 9,742 | 7,237 | 9,676 |
| Operating Profit ⓘ | 16,879 | 17,578 | 11,731 | 8,732 | 24,965 | 21,580 | 18,384 | 24,693 | 40,549 | 41,665 |
| Operating Profit Margin (%) | 18.3% | 16.8% | 9.8% | 10.2% | 25.0% | 22.4% | 20.4% | 22.5% | 29.3% | 29.2% |
| Other Income ⓘ | 7,034 | 7,076 | 6,033 | 5,531 | 5,878 | 6,446 | 3,989 | 3,902 | 10,251 | 14,275 |
| Interest ⓘ | 9 | 388 | 410 | 430 | 264 | 503 | 642 | 541 | 684 | 819 |
| Depreciation ⓘ | 2,320 | 2,826 | 2,907 | 3,063 | 3,450 | 3,451 | 3,718 | 4,429 | 6,833 | 6,735 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 21,584 | 21,440 | 14,446 | 10,770 | 27,127 | 24,071 | 18,009 | 23,616 | 43,275 | 48,813 |
| Tax ⓘ | 7,857 | 7,172 | 5,165 | 3,732 | 9,662 | 7,371 | 5,307 | 6,238 | 11,552 | 11,443 |
| Profit After Tax | 13,727 | 14,268 | 9,282 | 7,038 | 17,464 | 16,700 | 12,702 | 17,378 | 31,723 | 37,369 |
| PAT Margin (%) | 14.9% | 13.6% | 7.8% | 8.2% | 17.5% | 17.3% | 14.1% | 15.8% | 22.9% | 26.2% |
| Adjusted EPS (₹) | 21.7 | 22.6 | 15.0 | 11.3 | 28.3 | 27.1 | 20.6 | 28.2 | 51.5 | 60.7 |
| Dividend Payout Ratio (%) | 95% | 121% | 133% | 146% | 46% | 44% | 78% | 60% | 47% | 42% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 40,399 | 34,833 | 24,518 | 20,179 | 26,455 | 32,157 | 36,517 | 43,143 | 60,843 | 82,730 |
| Share Capital ⓘ | 6,316 | 6,316 | 6,207 | 6,207 | 6,163 | 6,163 | 6,163 | 6,163 | 6,163 | 6,163 |
| Reserves ⓘ | 34,083 | 28,517 | 18,311 | 13,971 | 20,292 | 25,994 | 30,355 | 36,980 | 54,680 | 76,567 |
| Minority Interest | 66 | 105 | 346 | 362 | 408 | 394 | 441 | 674 | 771 | 852 |
| Debt | 402 | 1,192 | 3,008 | 1,531 | 2,203 | 6,426 | 5,875 | 3,302 | 4,106 | 6,280 |
| Long Term Debt | 202 | 263 | 295 | 1,054 | 1,472 | 1,993 | 2,688 | 3,302 | 4,106 | 5,617 |
| Short Term Debt | 200 | 929 | 2,713 | 477 | 730 | 4,433 | 3,187 | 0 | 0 | 663 |
| Trade Payables | 921 | 3,297 | 3,884 | 6,974 | 9,418 | 7,251 | 8,473 | 8,604 | 8,549 | 8,386 |
| Others Liabilities ⓘ | 66,840 | 71,356 | 83,326 | 91,069 | 90,269 | 1,00,482 | 1,06,407 | 1,20,387 | 1,45,347 | 1,36,283 |
| Total Liabilities ⓘ | 1,08,628 | 1,10,784 | 1,15,082 | 1,20,116 | 1,28,752 | 1,46,709 | 1,57,713 | 1,76,109 | 2,19,616 | 2,34,531 |
Fixed Assets | ||||||||||
| Gross Block | 44,808 | 23,414 | 27,696 | 36,068 | 44,226 | 51,381 | 60,093 | 68,061 | 92,065 | 1,09,049 |
| Accumulated Depreciation | 27,509 | 2,682 | 5,517 | 8,494 | 11,608 | 14,597 | 17,688 | 21,384 | 27,517 | 33,381 |
| Net Fixed Assetsⓘ | 17,299 | 20,731 | 22,179 | 27,574 | 32,618 | 36,784 | 42,405 | 46,677 | 64,547 | 75,668 |
| CWIP ⓘ | 5,159 | 5,904 | 10,303 | 10,273 | 9,658 | 8,328 | 10,490 | 12,897 | 17,622 | 18,960 |
| Investmentsⓘ | 2,813 | 2,906 | 1,483 | 1,704 | 3,170 | 1,973 | 5,950 | 8,921 | 7,139 | 7,110 |
| Inventories | 6,184 | 7,569 | 8,945 | 6,444 | 5,584 | 6,618 | 8,947 | 7,076 | 8,155 | 10,177 |
| Trade Receivables | 8,522 | 11,448 | 12,476 | 6,258 | 5,499 | 14,408 | 19,623 | 11,368 | 13,060 | 13,256 |
| Cash Equivalents | 47,269 | 38,015 | 31,149 | 31,280 | 31,124 | 28,449 | 17,310 | 29,965 | 39,922 | 30,235 |
| Others Assetsⓘ | 21,382 | 24,210 | 28,546 | 36,584 | 41,100 | 50,150 | 52,987 | 59,206 | 69,170 | 79,124 |
| Total Assets ⓘ | 1,08,628 | 1,10,784 | 1,15,082 | 1,20,116 | 1,28,752 | 1,46,709 | 1,57,713 | 1,76,109 | 2,19,616 | 2,34,531 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 14,382 | 13,154 | 16,461 | 21,115 | 16,356 | 4,977 | 10,592 | 41,107 | 35,734 | 18,103 |
| PBT ⓘ | 21,584 | 21,439 | 14,445 | 10,770 | 27,129 | 24,071 | 18,009 | 23,616 | 43,275 | 48,813 |
| Adjustment ⓘ | 1,721 | 2,260 | 4,589 | 2,770 | 3,980 | 4,609 | 3,882 | 6,328 | -443 | -2,799 |
| Changes in Working Capital ⓘ | 649 | -2670 | 6369 | 15007 | -4975 | -18288 | -5872 | 16720 | 2652 | -16184 |
| Tax Paid ⓘ | -9,572 | -7,875 | -8,942 | -7,433 | -9,778 | -5,415 | -5,426 | -5,558 | -9,750 | -11,727 |
| Cash Flow From Investing Activity ⓘ | 894 | 8,154 | 455 | -7,747 | -7,896 | 1,033 | 182 | -25,715 | -23,465 | -4,486 |
| Capex | -4,901 | -5,786 | -8,676 | -8,529 | -6,448 | -5,589 | -10,852 | -11,996 | -15,211 | -16,750 |
| Net Investments | 509 | 8,905 | 5,667 | -1,551 | -4,593 | 3,501 | 8,818 | -14,817 | -10,938 | 9,317 |
| Others ⓘ | 5,287 | 5,035 | 3,464 | 2,334 | 3,144 | 3,121 | 2,216 | 1,099 | 2,684 | 2,947 |
| Cash Flow From Financing Activityⓘ | -15,026 | -19,587 | -17,598 | -13,564 | -10,885 | -4,791 | -8,453 | -13,441 | -13,704 | -13,899 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 261 | 33 | 760 | -418 | 1,252 | -695 | 0 | 804 | 1,501 |
| Interest Paid ⓘ | -7 | -21 | -31 | -37 | -12 | -69 | -196 | -85 | -138 | -224 |
| Dividend Paid ⓘ | -15,596 | -17,307 | -12,353 | -10,220 | -8,113 | -7,394 | -7,706 | -10,783 | -14,328 | -15,098 |
| Others ⓘ | 578 | -2,521 | -5,247 | -4,068 | -2,342 | 1,420 | 144 | -2,573 | -43 | -78 |
| Net Cash Flow ⓘ | 250 | 1,721 | -682 | -196 | -2,426 | 1,219 | 2,321 | 1,951 | -1,436 | -282 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 33.17 | 37.95 | 31.28 | 31.49 | 74.9 | 56.99 | 36.99 | 43.63 | 61.01 | 52.06 |
| ROCE (%) | 51.82 | 56.85 | 46.75 | 45.48 | 108.73 | 73.08 | 46.06 | 54.38 | 78.91 | 64.47 |
| Asset Turnover Ratio | 0.93 | 1.01 | 1.11 | 1.11 | 1.19 | 1.03 | 0.88 | 0.97 | 1 | 0.91 |
| PAT to CFO Conversion(x) | 1.05 | 0.92 | 1.77 | 3 | 0.94 | 0.3 | 0.83 | 2.37 | 1.13 | 0.48 | Working Capital Days |
| Receivable Days | 31 | 33 | 35 | 26 | 15 | 26 | 46 | 35 | 22 | 23 |
| Inventory Days | 22 | 23 | 24 | 21 | 15 | 16 | 21 | 18 | 14 | 16 |
| Payable Days | -594 | -533 | -1,058 | 1,180 | 3,494 | -3,099 | -1,387 | 1,292 | 0 | -2,031 |
Coal India Limited (CIL) the state owned coal mining corporate came into being in November 1975. With a modest production of 79 Million Tonnes (MTs) at the year of its inception, CIL today is the single largest coal producer in the world. CIL is a Maharatna company - a privileged status conferred by Government of India to select state owned enterprises in order to empower them to expand their operations and emerge as global giants.
Business area of the company
The company is mainly engaged in mining and production of Coal and also operates Coal washeries. The major consumers of the company are power and steel sectors. Consumers from other sectors include cement, fertilisers, brick kilns etc.
Products and Services
Awards
2006-07:
2007-08:
2008-09:
2009-10:
2010-11:
2011-12:
2012-13:
2014-15:
2017-18:
2018-19:
2019-20:
Milestones
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
Make an informed decision for Stocks
Invest using an intelligent system with powerful data-driven tools that help you identify opportunities and make informed buy-hold-sell decisions
Buy quality Stocks when they are available at reasonable prices and supported by an upward price trend and Sell when they are Overvalued using the Decizen Rating System. Covers 3500+ stocks
Don't miss out! First 10 users today get it FREE
With this 4 hrs Masterclass, you’ll be able to:
Download APP
