NSE: COALINDIA · BSE: 533278
COAL INDIA LTD
Mines and supplies coal to India's power sector and other industries, with diversification into solar and coal gasification. Coal Mining accounted for 100% of segment revenue in the June 2018 quarter, with no contribution from incidental activities. In Q1 FY27, consolidated revenue from operations stood at Rs 46,255 crore and PAT at Rs 8,850 crore, with average realisation of Rs 2,277 per tonne. Coal production for Q1 FY27 was 169.63 MT while offtake was 197.86 MT; July FY27 alone saw production of 50.36 MT and supplies of 64.19 MT. The company is pushing into renewables via a 200 MW solar project at Khavda, Gujarat (200 MW of 300 MW commissioned), joint ventures with UPRVUNL and RVUNL for solar, wind and pumped storage projects, and a Rs 25,000 crore coal gasification project with BHEL. The biggest cost line is employee cost at 27.6% of revenue, followed by other operating expenses at 43.0%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Coal Mining (100%). Cyclical, asset-heavy coal mining with diversification into solar and gasification
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,09,714 | 1,38,252 | 1,42,324 | 1,43,369 | 1,68,400 |
| EBITDA (ex other income) | 24,691 | 36,818 | 47,971 | 47,063 | 41,242 |
| margin % | 22.5 | 26.6 | 33.7 | 32.8 | 24.5 |
| Owners' profit | 17,358 | 28,165 | 37,402 | 35,358 | 31,094 |
| EPS, as reported (₹) | 28.17 | 45.70 | 60.69 | 57.37 | 50.46 |
| ROE % · ROCE % | 39.7 · 19.7 | 48.5 · 27.2 | 44.7 · 27.9 | 35.3 · 24.2 | 25.7 · 19.4 |
| Debt / equity (x) | 0.08 | 0.07 | 0.08 | 0.09 | 0.11 |
| Cash from operations | 41,088 | 35,686 | 18,103 | 29,200 | 43,215 |
| Capex | (12,023) | (14,209) | (16,380) | (12,804) | (12,092) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 30,673 | 35,780 | 37,825 | 35,842 | 30,187 | 34,924 | 46,490 | 46,255 |
| Profit before tax | 8,016 | 11,721 | 12,704 | 11,565 | 5,905 | 9,184 | 14,511 | 11,479 |
| Net profit | 6,275 | 8,491 | 9,593 | 8,734 | 4,263 | 7,166 | 10,908 | 8,850 |
| EPS (₹) | 10.21 | 13.80 | 15.58 | 14.19 | 7.07 | 11.61 | 17.59 | 14.36 |
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 ◆ | 2,42,349 | 7.8 | 2.00 | 4.7 | 25.7 | 18.9 | 13.3 | 30.5 |
| BHARAT COKING COAL LTD | 14,022 | — | 2.43 | — | 2.2 | 1.5 | — | 2.0 |
| SINDHU TRADE LINKS LTD | 3,067 | 55.3 | 1.36 | 46.9 | 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/E (TTM) | 7.8 | 14.0 | 9 of 38 | 78% |
| P/B | 2.0 | 1.9 | 23 of 40 | 44% |
| ROCE | 18.9 | 11.3 | 8 of 40 | 82% |
| ROE | 25.7 | 11.7 | 5 of 40 | 90% |
| Debt / Equity | 0.1 | 0.2 | 16 of 40 | 62% |
| EBITDA margin | 30.5 | 17.4 | 10 of 40 | 77% |
| Revenue growth | 29.1 | 29.8 | 20 of 38 | 49% |
| Profit growth | 1.3 | 45.0 | 26 of 38 | 32% |
| Market cap | 242349 | 4955 | 3 of 40 | 95% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Coal India publishes notice of board meeting | compliance | minimal | — | — |
| 27 Oct 2026 · CIL H1 FY27 capital spending rises 27% to 109% of plan | compliance | low | — | — |
| 22 Oct 2026 · Board meeting on 29 Oct 2026 to consider Q2 FY27 results and interim dividend | results | low | — | — |
| 9 Oct 2026 · Coal India publishes 5th notice on re-lodging physical share transfers | compliance | minimal | — | — |
| 8 Oct 2026 · Routine compliance certificate filed for share dematerialization for Q2 FY26 | compliance | minimal | — | — |
| 1 Oct 2026 · CIL Sept coal supplies up 12.5% to 61.20 MT amid rising power demand | compliance | low | — | — |
| 1 Oct 2026 · Coal India Sep 2026 SWMA e-auction: 72% allocation, 94% over notified price | business updates | medium | — | — |
| 1 Oct 2026 · CIL Sep'26 production up 9.2%, offtake rises 12.5% YoY | business updates | medium | — | — |
| 29 Sept 2026 · Coal India signs MoU with HURL for coal gasification urea project at Sindri | strategic transactions | medium | — | — |
| 29 Sept 2026 · Senior Management Change - Dr. Anjani Kumar moves to subsidiary WCL | 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.