Bharat Coking Coal Q2 FY27 results: net profit ₹123.74 crore

How did Bharat Coking Coal perform in Q2 FY27?

Bharat Coking Coal reported standalone revenue of ₹4,413 crore for Q2 FY27, up 23.0% from ₹3,587 crore in Q1 FY27. Total income rose 22.8% to ₹4,571.15 crore from ₹3,723.24 crore, while total expenses increased 14.6% to ₹4,385 crore from ₹3,826 crore.

EBITDA turned to ₹200.30 crore from a loss of ₹64.47 crore in Q1 FY27, and the EBITDA margin moved from -1.8% to 4.5%. Profit before tax turned to ₹185.78 crore from a loss of ₹103.07 crore, while net profit was ₹123.74 crore against a loss of ₹68.09 crore. Basic EPS was ₹0.27, compared with a loss of ₹0.15 in the previous quarter.

The filing also provides the year-earlier quarter’s figures, but the available comparison fields do not include a year-ago revenue, EBITDA, profit or EPS comparison. The results are presented on a standalone basis; the investor presentation includes consolidated financial statement figures for the half year and quarter.

What do the balance sheet and cash flow show?

At 30 September 2026, total assets were ₹20,710.60 crore, compared with ₹20,585.35 crore at 31 March 2026. Total equity was ₹5,823.25 crore against ₹5,778.8 crore, borrowings were ₹2,252.39 crore against ₹2,000.0 crore, and cash was ₹255.34 crore against ₹367.09 crore. Inventories were ₹2,719.01 crore, trade receivables ₹2,105.38 crore and trade payables ₹3,353.15 crore.

For H1 FY27, operating cash flow was ₹777.16 crore, investing cash flow was a negative ₹1,104.17 crore and financing cash flow was ₹215.26 crore. Capital expenditure was ₹678.25 crore. The filing does not provide a comparable year-earlier H1 cash-flow figure, so the direction of the year-to-date change cannot be stated.

What else did the company announce?

The company filed the standalone reviewed financial results for Q2 FY27 and the first half of FY27 on 25 October 2026. The Audit Committee reviewed the results on 25 October 2026, and the Board of Directors approved them at its 448th meeting, which began at 12:00 and concluded at 12:45. The results were filed under Regulation 30 read with Regulation 33 of the SEBI LODR Regulations.

The company also filed an investor presentation for the quarterly and half-year results on 25 October 2026. A 22 October 2026 filing had postponed the 448th Board meeting from 24 October 2026 to 25 October 2026 because of unavoidable circumstances. The available same-day filings do not state a dividend, fund raise or appointment.

What did Bharat Coking Coal's management say?

In the investor presentation, management said H1 FY27 production, overburden removal and off-take remained below target and H1 FY26 levels. Production was 13.78 MT against a target of 17.22 MT and 15.75 MT in H1 FY26; overburden removal was 64.87 MCuM against a target of 75.00 MCuM and 81.76 MCuM; off-take was 16.61 MT against a target of 18.90 MT and 17.05 MT. Management also said finance cost rose 61.65% to ₹97.07 crore as working-capital loans, bank overdrafts and LCs increased to ₹2100 crore from ₹780 crore.

Management identified expansion priorities including a CAPEX target of ₹1000 crores for FY 2026-27, the newly operational Bhojudih washery with 2.0 MTPA capacity, and the Maheshpur Rapid Loading System with capacity of 5.0 Mill Te Per Year. Management said the Moonidih longwall equipment is mandated to provide minimum guaranteed production of 1.5 MT/Y, while the Kalyaneshwari Block MOU with SAIL has a peak rated capacity of 4.0 MTPA.

Management said the company recorded an all-time-high sales realisation of ₹10,259.63 crore in H1 FY27 and an all-time-high monthly realisation of ₹2378.94 crore in September 2026. The presentation cited cost headwinds including approximately 40% higher POL prices, 21% higher explosives prices, JMBL cess increasing from ₹250 per ton to ₹450 per ton, 40% higher power tariffs, an NCWA XII provision of ₹76.07 crore for July–September 2026 and a one-time compensation payment of ₹39.83 crore. The available presentation and filing excerpts do not provide analyst questions or management responses.

How did Bharat Coking Coal shares react?

The filing appeared after market hours. The stock was up 0.5% after five minutes, up 0.3% after 15 minutes and down 1.2% after 30 minutes. On the reaction day, it closed up 4.1% from the pre-results close of ₹29.88; by the next day’s close, the move was 3.6%, and by the fifth session’s close, it was 1.7%.

The industry median was up 0.8% on the reaction day, up 1.4% by the next day’s close and up 2.4% by the fifth session’s close. Bharat Coking Coal’s excess moves were 3.3 percentage points on the reaction day, 2.2 percentage points by the next day’s close and -0.8 percentage points by the fifth session’s close. Earlier results-day moves were down 7.0% on 22 July 2026, down 5.2% on 22 April 2026 and down 0.7% on 3 February 2026.