Key Points
State-run Coal India (CIL) could deliver its highest-ever dividend per share (DPS) payout of Rs 30 for FY2024, Nuvama said in a note as it raised its interim DPS estimates from an earlier Rs 20, which will translate into an annualised dividend yield of 21%...
The payout is expected to be in H2 of FY2024, the domestic brokerage said, noting that the state miner will likely generate a free cash flow of Rs 22,000/Rs 19,500 in FY24E/FY25E which could allow the company to do so in a pre-election year...
"In the current global scenario, Coal India (CIL) is a pure domestic play potentially offering the triple benefits of volume growth, improved e-auction prices and possibly all-time high dividend in H2FY24..
Nuvama has also revised earnings before interest, taxes, depreciation and amortisation (EBITDA) estimates for Coal India by 9%/8% to factor in higher e-auction price and volume..
With higher volume, partial FSA price hike and cost peaking out, CIL is expected to generate EBITDA much above average in the foreseeable future, Nuvama said.. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own..
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