Coal India Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2018 • Coal Mining: 100.0%
AI Sector View
AI GENERATEDOil Gas & Consumable Fuels
Sector economics are clouded by input volatility and uneven volume trends. WPI fuel inflation is very high at 20.05% (Jul/26), crude oil output is -5.3% YoY (2026-07), natural gas is -3.7% YoY (2026-07), and natural gas consumption is -3.0% YoY (2026-06), although refinery products grew 2.7% YoY (2026-07) and coal was 7.6% YoY (2026-07). Heavy FPI outflows of INR -15293 crore over 3 months to 2026-08-31 and negative oil-linked news flow reinforce the underweight.
PROS
- Company has a healthy return on capital (ROCE) of 49.3%
- Company has a good return on equity (ROE) track record: 3 Years ROE 39.5%
- Company has consistently been profitable over the last 5 years
- Latest quarter profit grew 913.2% YoY, showing strong momentum
- Company has been maintaining a healthy dividend payout of 52.5%
CONS
- A large part of profit comes from other income (36.6% of PBT)
- Promoter holding has decreased over last 2 years: -2.0pp
- Working capital days have increased from 75 to 125 days
- Total debt has risen sharply - up 55.2% year on year
- Contingent liabilities are large at 53.3% of net worth
- Operating margins have contracted to 22.1% from 25.6%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| COALINDIA | 433.50 | 8.56 | 267154.27 | 6.11 | 8849.81 | 1.32 | 46254.80 | 45.09 | 35.43 | 26.61 |
| NMDC | 84.80 | 10.00 | 74554.61 | 4.13 | 1976.23 | 0.43 | 6795.25 | 0.84 | 27.98 | 35.89 |
| KIOCL | 367.55 | 574.53 | 22337.89 | 0.00 | -15.48 | 59.04 | 158.01 | 73.79 | -10.27 | -16.83 |
| GMDCLTD | 580.50 | 19.30 | 18459.90 | 1.64 | 163.43 | -0.21 | 906.64 | 23.76 | 18.28 | 21.12 |
| SANDUMA | 196.95 | 13.35 | 9573.83 | 0.25 | 2278.50 | 1263.64 | 13747.80 | 1110.85 | 23.78 | 24.91 |
| ASHAPURMIN | 543.15 | 12.75 | 5188.50 | 0.37 | 108.31 | -4.91 | 1616.12 | 19.22 | 20.64 | 11.63 |
| MOIL | 250.25 | 68.75 | 5092.22 | 2.13 | 513.84 | — | 2677.04 | — | 12.64 | 28.40 |
| DECNGOLD | 226.00 | 1309.67 | 4541.94 | 0.00 | -87.26 | -210.25 | 6.03 | 1462.18 | -20.83 | -826.53 |
| ORISSAMINE | 4072.85 | 0.00 | 2443.71 | 0.00 | -7.61 | 75.80 | 28.99 | 330.83 | -44.94 | -32.24 |
| 20MICRONS | 212.05 | 11.04 | 748.25 | 0.59 | 17.74 | 5.22 | 244.72 | -0.99 | 17.83 | 13.13 |
| ASOCSTONE | 24.79 | 8.90 | 223.30 | 1.61 | 7.97 | 2887.41 | 44.18 | -25.13 | 13.63 | 27.86 |
| OSWALMIN | 28.90 | 1.07 | 22.40 | 0.00 | — | — | — | — | 5.85 | — |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 33,073 | 29,978 | 33,011 | 34,264 | 33,170 | 27,271 | 32,359 | 43,962 | 31,880 | 30,187 | 34,924 | 46,490 | 46,255 | |
| 22,408 | 22,738 | 23,183 | 26,826 | 23,165 | 22,565 | 24,541 | 32,029 | 23,321 | 26,422 | 28,132 | 37,107 | 36,816 | |
| Operating Profit | 10,664 | 7,240 | 9,828 | 7,438 | 10,005 | 4,706 | 7,818 | 11,932 | 8,560 | 3,765 | 6,792 | 9,383 | 9,439 |
| OPM % | 32.25% | 24.15% | 29.77% | 21.71% | 30.16% | 17.26% | 24.16% | 27.14% | 26.85% | 12.47% | 19.45% | 20.18% | 20.41% |
| 1,538 | 1,984 | 2,203 | 2,244 | 1,885 | 1,505 | 2,143 | 3,939 | 1,616 | 2,140 | 2,392 | 5,128 | 2,040 | |
| Interest | 178 | 182 | 227 | 232 | 209 | 208 | 226 | 241 | 265 | 287 | 321 | 344 | 327 |
| Depreciation | 1,527 | 1,594 | 1,723 | 1,892 | 1,952 | 1,898 | 2,513 | 2,728 | 2,307 | 2,664 | 2,218 | 2,947 | 2,303 |
| Profit before Tax | 13,408 | 10,246 | 13,224 | 11,507 | 14,062 | 8,016 | 11,721 | 12,902 | 11,565 | 6,115 | 9,473 | 14,627 | 11,719 |
| Tax % | 21.53% | 22.32% | 24.34% | 26.52% | 22.78% | 23.43% | 28.16% | 25.81% | 25.72% | 30.29% | 24.35% | 25.43% | 24.49% |
| Net Profit | 0 | 0 | 0 | 0 | 10,944 | 6,275 | 8,491 | 9,593 | 8,734 | 4,263 | 7,166 | 10,908 | 8,850 |
| 17.08 | 13.06 | 16.64 | 13.91 | 17.78 | 10.21 | 13.80 | 15.82 | 14.19 | 7.07 | 11.61 | 17.59 | 14.36 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,19,264 | 85,476 | 99,959 | 96,283 | 90,233 | 1,09,941 | 1,38,506 | 1,45,052 | 1,69,177 | 1,68,400 | 15,78,557 | |
| 1,07,533 | 76,745 | 74,994 | 74,703 | 71,849 | 85,248 | 97,958 | 1,00,948 | 1,26,086 | 1,31,229 | 12,84,772 | |
| Operating Profit | 11,731 | 8,732 | 24,965 | 21,580 | 18,384 | 24,693 | 40,549 | 44,104 | 43,092 | 37,171 | 2,93,786 |
| OPM % | 9.84% | 10.22% | 24.98% | 22.41% | 20.37% | 22.46% | 29.28% | 30.41% | 25.47% | 22.07% | 18.61% |
| 6,033 | 5,531 | 5,878 | 6,446 | 3,989 | 3,902 | 10,251 | 11,837 | 13,585 | 15,346 | 1,17,003 | |
| Interest | 410 | 430 | 264 | 503 | 642 | 541 | 684 | 819 | 884 | 1,216 | 12,784 |
| Depreciation | 2,907 | 3,063 | 3,450 | 3,451 | 3,718 | 4,429 | 6,833 | 6,735 | 9,092 | 10,137 | 1,01,321 |
| Profit before Tax | 14,446 | 10,770 | 27,127 | 24,071 | 18,009 | 23,616 | 43,275 | 48,813 | 47,163 | 41,923 | 4,19,333 |
| Tax % | 35.75% | 34.65% | 35.62% | 30.62% | 29.47% | 26.41% | 26.69% | 23.44% | 24.84% | 25.89% | 25.63% |
| Net Profit | 9,282 | 7,038 | 17,464 | 16,700 | 12,702 | 17,378 | 31,723 | 37,369 | 35,450 | 31,071 | 3,11,862 |
| EPS | 14.80 | 11.34 | 28.14 | 27.12 | 20.61 | 28.17 | 51.54 | 60.69 | 57.61 | 50.46 | — |
| Dividend Payout % | 133.11% | 145.52% | 46.23% | 44.25% | 77.64% | 60.36% | 47.05% | 42.02% | 46.00% | 52.52% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 5%
- 5 Years:
- 13%
- 3 Years:
- 7%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 8%
- 5 Years:
- 20%
- 3 Years:
- -1%
STOCK PRICE CAGR
- 10 Years:
- 3%
- 5 Years:
- 23%
- 3 Years:
- 16%
- 1 Year:
- 8%
RETURN ON EQUITY
- 10 Years:
- 45%
- 5 Years:
- 45%
- 3 Years:
- 40%
- Last Year:
- 28%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 6,207 | 6,207 | 6,163 | 6,163 | 6,163 | 6,163 | 6,163 | 6,163 | 6,163 | 6,163 |
| Minority Interest | 346 | 362 | 408 | 394 | 441 | 674 | 771 | 852 | 761 | 1,903 |
| 18,311 | 13,971 | 20,292 | 25,994 | 30,355 | 36,980 | 54,680 | 76,567 | 95,558 | 1,12,939 | |
| 7,870 | 7,062 | 8,411 | 12,610 | 13,152 | 12,467 | 14,259 | 17,348 | 20,504 | 26,080 | |
| Trade Payables | 3,884 | 6,974 | 9,418 | 7,251 | 8,473 | 8,604 | 8,549 | 8,386 | 10,202 | 12,554 |
| 78,464 | 85,538 | 84,060 | 94,297 | 99,130 | 1,11,222 | 1,35,194 | 1,25,216 | 1,24,370 | 1,23,782 | |
| Total Liabilities | 1,15,082 | 1,20,116 | 1,28,752 | 1,46,709 | 1,57,713 | 1,76,109 | 2,19,616 | 2,34,531 | 2,57,558 | 2,83,421 |
| 22,094 | 27,574 | 32,618 | 36,784 | 42,405 | 46,677 | 64,547 | 75,668 | 82,148 | 87,252 | |
| Capital Work in Progress | 8,585 | 10,273 | 9,619 | 8,271 | 10,404 | 12,714 | 15,263 | 14,739 | 15,889 | 15,834 |
| 1,483 | 1,704 | 3,170 | 1,973 | 5,950 | 8,921 | 7,139 | 7,110 | 7,591 | 10,226 | |
| 8,945 | 6,444 | 5,584 | 6,618 | 8,947 | 7,076 | 8,155 | 10,177 | 12,612 | 15,654 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 13,256 | 12,728 | 14,121 | |
| Cash & Bank | 31,149 | 31,280 | 31,124 | 28,449 | 17,310 | 29,965 | 39,922 | 30,235 | 34,215 | 52,574 |
| 42,826 | 42,841 | 46,637 | 64,615 | 72,697 | 70,757 | 84,590 | 83,346 | 92,376 | 87,760 | |
| Total Assets | 1,15,082 | 1,20,116 | 1,28,752 | 1,46,709 | 1,57,713 | 1,76,109 | 2,19,616 | 2,34,531 | 2,57,558 | 2,83,421 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 25,402 | 28,548 | 26,134 | 10,392 | 16,018 | 46,665 | 45,484 | 18,103 | 30,237 | 43,215 | |
| Cash from Investing | 455 | -7,747 | -7,896 | 1,033 | 182 | -25,715 | -23,465 | -4,486 | -11,114 | -33,955 |
| Cash from Financing | -17,598 | -13,564 | -10,885 | -4,791 | -8,453 | -13,441 | -13,704 | -13,899 | -13,308 | -11,801 |
| -682 | -196 | -2,426 | 1,219 | 2,321 | 1,951 | -1,436 | -282 | 5,815 | -2,541 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-09 - Coal India Limited has informed the Exchange regarding a press release dated September 09, 2026, titled "NCL picks up Production and Dispatch pace as Monsoon recedes".
2026-09-09 - Coal India Limited has informed the Exchange regarding Change in Auditors of the company.
2026-09-02 - Disclosure under Regulation 30 of SEBI LODR, 2015 Filing of DRHP of Mahanadi Coalfields Limited (MCL), a wholly owned Subsidiary of CIL.
2026-09-01 - Coal India Limited has informed the Exchange regarding a press release dated September 01, 2026, titled "Press Release on Coal India Supplies Rise 5.5 % in August FY'27. ".
2026-09-01 - Coal India Limited has informed the Exchange about Single Window Mode Agnostic (SWMA) E-auction Data of CIL and Subsidiary Companies for the month of Aug 26 & cumulative for the month of Apr 26-Aug 26.
2026-09-01 - Coal India Limited has informed the Exchange about Newspaper publication of Chairman s Speech at 52nd AGM of Coal India Limited held on 31st August 2026.
2026-09-01 - Coal India Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 31, 2026. Further, the company has informed the Exchange regarding voting results.
2026-09-01 - Provisional Production and Off-take Performance of CIL and Subsidiary Companies for the month of August 26 and Progressive August 26.
2026-09-01 - Coal India Limited has informed the Exchange about change in Management
News
Recent coverage and analyst commentary for COALINDIA
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