Central Mine Planning & Design Institute (CMPDI) Q4 21/22 earnings summary

Executive summary

• FY22 net sales fell to ₹1,208.43 crore from ₹1,488.60 crore; PAT was ₹282.12 crore and total comprehensive income ₹302.06 crore.

• Operational output exceeded drilling and seismic MoU targets; exploration added 8.8 billion tonnes to the Proved category and project reports planned 69 Mtpa of incremental capacity.

• Lower Ministry of Coal exploration funding and reduced CIL drilling opportunities pressured activity; FY23 plans prioritize seismic surveys and diversification into other minerals and services.

Financial highlights

• Net sales ₹1,208.43 crore vs ₹1,488.60 crore; total income ₹1,238.26 crore vs ₹1,508.68 crore, down 17.92% YoY.

• PBT ₹366.04 crore vs ₹414.49 crore; PAT ₹282.12 crore vs ₹316.96 crore. No exceptional items were reported.

• Total expenses ₹872.22 crore vs ₹1,094.19 crore; contractual expenses ₹145.87 crore vs ₹406.94 crore, while employee benefits expense rose to ₹570.82 crore from ₹551.83 crore.

• OCI was ₹19.94 crore vs a loss of ₹7.12 crore; total comprehensive income ₹302.06 crore vs ₹309.84 crore.

• EPS ₹1,975.63 vs ₹2,219.61; net worth ₹995.62 crore vs ₹784.47 crore.

Outlook and guidance

• FY23 drilling target is 6.50 lakh metres and 2D/3D seismic acquisition target is 875 line km; funding cuts and limited CIL drilling scope may constrain exploration.

• Strategic priorities include wider use of seismic methods, non-coal mineral diversification, more outside-CIL work, facility upgrades, cost controls and improved manpower utilization.

• Coal demand is expected to remain significant in India, but renewable expansion, climate commitments and stricter environmental and land-acquisition requirements could weaken longer-term exploration demand.

• Four coal-gasification projects and CBM/CMM development are intended to broaden future consultancy opportunities; data analytics and AI/ML are additional development areas.