NSE: BHARATCOAL · BSE: 544678
BHARAT COKING COAL LTD
Mines coking and non-coking coal in India, washing coking coal for the steel industry, and operates coal washeries. Bharat Coking Coal Limited produces raw coal split between coking and non-coking varieties and runs washing facilities that upgrade coal for steelmakers. In Q1 FY27, the business posted a net loss of Rs 68.09 crore against a profit of Rs 176.87 crore a year earlier, with revenue from operations at Rs 3,587.27 crore. The Dugdha Coal Washery site was handed over to JSW Steel in June 2026. Employee costs are the largest cost line at 47.2% of FY26 revenue, with other operating expenses at 59.6%. The unit cost of coal rose from Rs 2,976 to Rs 3,375 per tonne in Q1 FY27 on higher diesel, explosives, power and finance costs. It operates as a subsidiary of Coal India Limited, a central public sector enterprise under the Ministry of Coal. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Coking coal (raw), Washed coking coal, Non-coking coal. Asset-heavy, labour-intensive underground and opencast coal mining with coal washing
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY26 |
|---|---|
| Revenue | 13,645 |
| EBITDA (ex other income) | (494) |
| margin % | (3.6) |
| Owners' profit | 128 |
| EPS, as reported (₹) | 0.28 |
| ROE % · ROCE % | 2.2 · 3.1 |
| Debt / equity (x) | 0.35 |
| Cash from operations | (641) |
| Capex | (619) |
Exhibit 2: Quarterly performance, last 3 quarters
| ₹ crore | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|
| Revenue | 2,783 | 3,283 | 3,587 |
| Profit before tax | (69) | 19 | (103) |
| Net profit | (23) | 27 | (68) |
| EPS (₹) | (0.05) | 0.06 | (0.15) |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| COAL INDIA LTD | 2,45,277 | 7.9 | 2.03 | 4.8 | 25.7 | 18.9 | 13.3 | 30.5 |
| BHARAT COKING COAL LTD ◆ | 14,413 | — | 2.49 | — | 2.2 | 1.5 | — | 2.0 |
| SINDHU TRADE LINKS LTD | 3,253 | 58.6 | 1.44 | 49.4 | 2.5 | 0.4 | (10.1) | 20.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 2.5 | 2.0 | 29 of 40 | 28% |
| ROCE | 1.5 | 11.3 | 37 of 40 | 8% |
| ROE | 2.2 | 11.7 | 37 of 40 | 8% |
| Debt / Equity | 0.3 | 0.2 | 28 of 40 | 31% |
| EBITDA margin | 2.0 | 17.4 | 37 of 40 | 8% |
| Market cap | 14413 | 5053 | 18 of 40 | 56% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Q2 FY27 sales rise to Rs 4,571 crore and profit turns positive | compliance | minimal | — | — |
| 25 Oct 2026 · Q2 swings to profit, but first-half profit after tax falls 55% | investor communications | medium | — | — |
| 25 Oct 2026 · Standalone Q2 profit of Rs 62.04 crore; half-year revenue down 3.5 percent | results | high | — | — |
| 22 Oct 2026 · Board meeting rescheduled by one day to consider Q2 results | results | low | — | — |
| 16 Oct 2026 · NGT declines to hear environmental case; matter stays with Jharkhand High Court | regulatory legal | high | — | — |
| 16 Oct 2026 · Board meeting on Oct 24, 2026 to consider Q2 and H1 FY27 results | results | low | — | — |
| 14 Oct 2026 · Supreme Court rejects BCCL petition, firm to pay Rs 46.20 crore plus interest | regulatory legal | high | — | — |
| 13 Oct 2026 · BCCL raises raw coking coal basic prices by up to 14% for non-regulated sector | business updates | medium | — | — |
| 13 Oct 2026 · BCCL submits Q2 FY26-27 demat confirmation certificate under SEBI Reg 74(5) | compliance | minimal | — | — |
| 12 Oct 2026 · Internal transfer and posting of 10 executives changes Senior Management | management changes | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.