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    COALINDIA   INE522F01014


Delayed NSE India Stock Exchange  -  05/26 07:59:22 am EDT
183.25 INR   +1.41%
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Coal India Limited : Coal India signs MoU with Government

03/28/2013 | 01:45am EDT
Coal India signs MoU with Government
Mar 23, 2013


23 March, 2013

Coal India signs MoU with Government

Coal India Limited (CIL) the coal mining Maharatna PSU signed a Memorandum of Understanding (MoU) with its Administrative Ministry - Ministry of Coal - for its key performance areas for the fiscal 2013-14. Shri S K Srivastava, Secretary to Government of India, Ministry of Coal and Shri S Narsing Rao, Chairman, CIL signed the document in Delhi on 22nd March, 2013.

As per the MoU for the fiscal 2013-14, MoC has fixed coal production & off-take targets of 482 Million tonnes (Mt) and 492 Mt respectively against last year's coal production and off-take target of 464.1 Mt & 470 Mt respectively. The off-take in the current fiscal till 20th March 2013 has been close to the MoU off-take target. Coal off-take has increased by about 32 Mt, as of 20 March 2013, over same period last year whereas the total increase in coal production over last year has been about 18 Mt. The required growth rates for achieving coal production and off-take targets of 2013-14 are about 7.11 % and 5.80 % respectively.

For 2011-12, CIL's performance was rated 'Excellent'.

Under the present MoU for 2013-14, Quality & Customer Satisfaction, Research & Development, CSR & Sustainability, Human Resource Management and Project Implementation have been made as major thrust areas. To attain the targeted off-take for 'excellent' rating, CIL has sought 212.2 railway rakes/day, on an annual basis for 2013-14, against the average availability of 167.7 rakes/day during 2011-12 and about 184 rakes/day during 2012-13. Average growth of coal movement through Rail was around 5.21% during the last 4 years whereas CIL envisages a growth of around 8.67 % through rail for achieving the above target.

The component of performance evaluation mainly consists of Financial and Non Financial parameters which carry equal weight of 50% each. The key parameters are gross margin, gross sales, financial ratios, quality of coal & customer satisfaction, project implementation, coal production, off-take & productivity, safety, HRD, CSR & Sustainability etc.

The MoU formulated on the guidelines laid down by Department of Public Enterprises is a negotiated agreement and contract between Government and the Management of Central Public Sector Enterprise (CPSE) to evaluate the performance of the CPSE at the end of the year vis- a-vis the targets fixed in the beginning of the year.

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Sales 2022 1 057 B 13 623 M 13 623 M
Net income 2022 163 B 2 099 M 2 099 M
Net cash 2022 151 B 1 948 M 1 948 M
P/E ratio 2022 6,83x
Yield 2022 9,92%
Capitalization 1 129 B 14 561 M 14 561 M
EV / Sales 2022 0,93x
EV / Sales 2023 0,81x
Nbr of Employees 259 016
Free-Float 33,9%
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 180,70 INR
Average target price 209,27 INR
Spread / Average Target 15,8%
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Pramod Agrawal Chairman, Managing Director & Finance Director
Sunil Kumar Mehta Chief Financial Officer
B. Veera Reddy Director, Director-Technical & Marketing
M. Viswanathan Secretary & Compliance Officer
Makwana Poonambhai Kalabhai Independent Director