External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Volume Growth Continues to Disappoint: CIL’s coal production in Q4FY26 stood at 239 MT (up 1% YoY) vs. the target of 269 MT, with production higher YoY across subsidiaries except at BCCL, WCL, and MCL.</li><li>Coal offtake in Q4FY26 stood at 199 MT vs. the target of 243 MT, down 2% YoY. OB removal fell slightly short of the target of 605 Mn CuM at 577 Mn CuM, and remains flat YoY.</li><li>EBITDA Slightly ahead of Consensus: Reported EBITDA stood at Rs 12,673 Cr (up 6%/36% YoY/QoQ), 4% ahead of consensus, led by lower employee expenses (down 2%/13% YoY/QoQ), led by 4% YoY reduction in manpower and lower RM cost on account of inventory build up.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Volume Growth Continues to Disappoint: CIL’s coal production in Q4FY26 stood at 239 MT (up 1% YoY) vs. the target of 269 MT, with production higher YoY across subsidiaries except at BCCL, WCL, and MCL.Coal offtake in Q4FY26 stood at 199 MT vs. the target of 243 MT, down 2% YoY. OB removal fell slightly short of the target of 605 Mn CuM at 577 Mn CuM, and remains flat YoY.EBITDA Slightly ahead of Consensus: Reported EBITDA stood at Rs 12,673 Cr (up 6%/36% YoY/QoQ), 4% ahead of consensus, led by lower employee expenses (down 2%/13% YoY/QoQ), led by 4% YoY reduction in manpower and lower RM cost on account of inventory build up.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Coal India Ltd - Q4 EBITDA Slightly Ahead of Consensus; Maintain BUY