Maharatna PSU Company Announces 18% Drop In Net Profit, Rs 4/Share Dividend

Maharatna PSU company, Coal India on May 7 announced 18% decline in net profit to Rs 5,528 crore in Q4 of financial year 2023 amid surging provisions towards wages. According to the regulatory filing of Coal India, it witnessed a 62% growth in profit after tax to Rs 28,125 crore as against Rs 17,378 crore declared in FY 2022. This was despite provisioning Rs 8,153 crores in the accounts in 2022-23 towards wage revision of CIL's non-executive manpower.

The company's net sales were highest ever for Q4 as well as for entire FY'23. Net sales at Rs. 35,161 Crores in Q4 of FY'23 were up by 17% compared to Rs. 29,985 Crores of fourth quarter FY'22. For the full year of 2022-23 CIL's net sales was Rs. 1,27,627 Crores. This is a jump of 27% compared to Rs. 1,00,563 Crores of preceding fiscal.

Dividend: Coal India also declared Rs 4/share dividend as well. According to the BSE filing of the company, "Board of Directors in its meeting held on date had recommended payment of Final Dividend for the financial year 2022-23 @ 4/- per share of the face value of Rs 10/- as recommended by the Audit Committee of CIL in its meeting held on date subject to approval of the Members at the ensuing Annual General Meeting ("AGM") of the Company."

Stock Performance & Return: Last trading price of Coal India stock is Rs 237.35 per share with intraday fall of 0.06%. The stock's 52-week high price is Rs 263.30 per share and 52-week low price is Rs 164.75 per share, respectively. The company has a market capitalisation of Rs 1,46,272.36 crore. The stock witnessed a surge of 8% in last 3-months, gave return of 27% in last 1-year, 78% return in last 2-years, and 71% return in last 3-years.

Coal India EBITDA: Earnings before interest, tax, depreciation, amortization, impairment (EBITDA) - the measure of a company's financial performance - has risen by 49% during FY'23 to Rs. 40,291 Crores from Rs.26,974 Crores in FY'22.

About Coal India: 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 and one of the largest corporate employer with manpower of 272445 (as on 1st April, 2020). CIL functions through its subsidiaries in 84 mining areas spread over eight (8) states of India, according to its official website.