In the fourth-quarter Coal India Ltd usually ramps up production, and has often been able to surprise the Street with production and better sales volume growth.
This time the lockdown due to the covid-19 pandemic has put Coal India’s operations on the back burner. While production volume growth was good, its sales volume growth was tepid. Coal demand was sluggish and is expected to remain soft in FY21. Shares of Coal India were flat in trade on Tuesday.