Provisions mask business EBITDA; correction in coal price to support margins
Prime coking coal price has corrected 39% through 1QFY23 and by further 21% since the beginning of 2QFY23. Overall, prime coking coal has corrected by USD283/t (52%) since 1st Apr’22. In addition, JSW has started sourcing PCI coal, anthracite and semi-soft coking coal from Russia at steep discount, which should reduce the costs substantially from Sep’22 onwards. Hence, we expect margin recovery from 3QFY23 onwards
Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services and Online Trading with group companies providing services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking, Principal Strategies & Home Finance.
Motilal Oswal Securities is a group company of Motilal Oswal Financial Service Limited which started as a stock trading company and has blossomed into well diversified firm offering a range of financial products and services. Motilal Oswal has built a reputation as the source for best stock trading company and this has taken a wealth of experience, knowledge and expertise, constantly working in tandem, over the years.
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