Coal India
Coal India
Energy F&OKey Fundamentals
LargecapCoalEnergyTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
3- Stock is providing a good dividend yield of 6.30%.
- Company has a good return on equity (ROE) track record: 3 Years ROE 37.9%
- Company has been maintaining a healthy dividend payout of 46.8%
Weaknesses
1- Promoter holding has decreased over last quarter: -2.00%
Growth Rate
AI Analysis — Bull vs Bear
Coal India Ltd has a market capitalisation of about Rs 262,070 crore and trades at a P/E of 8.3x and a P/B of 2.18x. Its return on equity (ROE) has historically been high, averaging 43% over 10 years and 42% over 5 years, but it fell to 28% last year. Profit declined 6% on a trailing-twelve-month (TTM) basis and has compounded at -1% over 3 years, even though sales grew 6% TTM and 7% annually over 3 years. The company pays a high dividend (6.22% yield, 46.8% payout), and promoter holding fell 2.00% last quarter.
- Valuation is low at a P/E of 8.3x, an earnings yield of roughly 12%. For a company with Rs 262,070 crore market cap, this suggests the market is pricing in little growth.
- The reported dividend yield is 6.22%, backed by a steady payout ratio of 46.8%, which gives meaningful cash returns regardless of price movement. A 46.8% payout at 8.3x earnings works out to about a 5.6% yield, which supports the 6.22% figure over the 1.3% shown in the raw metrics.
- The company has a long record of high capital efficiency, with ROE averaging 43% over 10 years, 42% over 5 years and 38% over 3 years.
- Even after falling, last year's ROE of 28% is high against a P/B of 2.18x. That implies the company earns well above its cost of equity relative to the price the market pays for its book value.
- Over 5 years, profit compounded at 20% a year and sales at 13%, showing strong operating leverage during the recent up-cycle.
- Shareholder returns have been solid recently: stock CAGR of 21% over 5 years, 13% over 3 years and 10% over 1 year, before counting dividends.
- Revenue is still growing, with TTM sales up 6% and 3-year sales CAGR at 7%, which points to steady demand for its core product.
- Earnings are shrinking: TTM profit growth is -6% while sales grew 6%, which signals margin compression.
- Profit has compounded at -1% a year over 3 years against 7% sales CAGR. This suggests the 20% 5-year profit CAGR was driven by an unusually strong cyclical peak that has since faded.
- ROE fell to 28% last year from a 3-year average of 38% and a 10-year average of 43%, a clear drop in returns on capital.
- Promoter holding fell 2.00% over the last quarter, which increases free float and may point to further government stake sales creating supply overhang.
- Long-term shareholder returns are weak, with 10-year stock CAGR at only 3%. The strong 5-year returns (21%) came from a low base and may not be structural.
- Sales growth is slowing: TTM growth of 6% and 3-year CAGR of 7% are well below the 5-year CAGR of 13%, and close to the 10-year average of 8%.
- The low P/E of 8.3x may reflect a lasting discount for long-term energy-transition and ESG risks to thermal coal demand, so the multiple may not re-rate even if earnings stabilise.
- Data gaps and inconsistencies limit analysis: ROCE, debt-to-equity and EPS are unavailable, and the raw dividend yield figure (1.3%) conflicts with the 6.22% cited elsewhere.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Q1 margins squeezed by costs Sep 2
Q1 EBITDA fell 4.1% YoY to ₹12,069 crore and margin narrowed to 26.1% from 29.3%. Net profit rose just 0.63% to ₹8,852.11 crore even though revenue grew 7.8% to ₹46,254.8 crore.
- Production lagging despite offtake growth Sep 2
August production fell 5.72% YoY to 47.52 MT, and April-August output was down 4.5% at 267.50 MT. Cumulative H1 production was still down 2.5% at 321.0 MT despite a better September (Oct 1 update).
- Monsoon disrupted mining operations Sep 6
Heavy July-August rains flooded mines, so average daily output in the first three days of September dropped to 1.36 MT. Overburden removal slumped to 2.5 million cubic metres per day.
- Supply growth relies on stockpile drawdown Sep 2
About 55 MT of pithead stock was cleared in April-August, leaving roughly 76 MT. This means deliveries grew by drawing down inventory rather than by mining more coal.
- Weak e-auction sell-through Sep 2
Only 82.76 lakh tonnes of the 210.66 lakh tonnes offered at auction in August found buyers, a 39% sale rate. Buyers were selective about grades and mines.
- Coal logistics bottleneck Sep 6
148 MT of coal was available nationally, but only 34.55 MT had reached thermal plants. Plant stocks were 28.2 MT against a requirement of 58.7 MT, with 50 plants (224 GW) classed as critical.
- Price tailwind may be temporary Sep 22
Gains in profitability could fade as post-monsoon production recovers toward the FY27 targets of 815 MT production and 850 MT offtake.
- Brokerage upgrades, ₹480-550 targets Sep 22
Morgan Stanley upgraded to Overweight with a ₹480 target (from ₹420), Jefferies kept Buy at ₹500 (18.5% upside), and UBS has Buy at ₹550. Jefferies sees EPS growing at a 6% CAGR over FY26-29 after a 12% decline over FY24-26.
- E-auction premiums sharply higher Sep 2
The August e-auction premium was 59% over the notified price, and the April-August average was 46% versus 35% a year earlier. Nuvama raised FY27E and FY28E EBITDA estimates by 13% and 8%.
- Sharp production rebound in September Oct 1
September production rose 9.2% YoY to 53.5 MT and offtake rose 12.5% to 61.2 MT, led by an 85.5% jump at WCL. Average daily output had already risen 40% to 1.91 MT by September 8.
- Offtake growth on tight power stocks Sep 2
August offtake rose 5.5% to 60.60 MT, and April-August offtake rose 6.7% to 322.9 MT. Power-plant coal stocks fell to about 7-9 days against a 15-day average, and August power demand grew 13% YoY.
- Rally driven by dividend yield Sep 2
The stock jumped 4.06% to ₹417.90 while the Sensex fell around 800 points. The ₹5.25 final dividend (record date Sep 4) takes FY26 payouts to ₹26.50 per share, a yield of about 6.34%.
- R&D spend scaling to ₹500 crore Sep 17
Coal India plans to raise annual R&D spending to ₹500 crore by FY30, from ₹183.88 crore in FY26. Its diversification includes four coal-to-chemicals projects worth about ₹69,346 crore, BESS projects and 550 MW of commissioned solar capacity.
- MCL IPO: 10% OFS filed Sep 2
Coal India filed a DRHP to sell up to 661.8 million MCL shares (₹2 face value) through an offer for sale, with listing expected this fiscal year. MCL produced 218.31 MT in FY26, but its Q1 profit slipped to ₹2,398.7 crore from ₹2,448.3 crore.
- HURL MoU for coal-to-urea Sep 29
Coal India signed a non-binding MoU on Sep 29 to study a coal gasification-based urea plant at Sindri. The first step is a preliminary feasibility report, and the stock closed up 0.72% at ₹424.65.
- Mixed broker views remain Sep 2
Of 26 analysts, 16 rate the stock Buy, 5 Hold and 5 Sell. Nuvama is at Hold with a ₹454 target, HSBC at Hold with ₹440, and Macquarie at Equal-weight with ₹420.
- ED Contracts moves to WCL Sep 29
Dr. Anjani Kumar relinquished charge as Executive Director (Contracts) on Sep 28, 2026, after his appointment as Director (Tech) at WCL.
- New independent director at NCL Sep 17
Sona Kumari (DIN-11835630) was appointed Non-Official Independent Director on the NCL board, effective Sep 17, 2026.
TL;DR: Coal India has recovered almost all of its post-Q1 losses and trades near ₹424. The rally is backed by e-auction premiums of 46-59%, tight power-plant coal stocks, brokerage upgrades with targets up to ₹550 and a dividend yield of about 6%. The main risks are Q1 margin compression to 26.1%, supply growth that has leaned on a 55 MT stockpile drawdown, weak auction sell-through and pricing gains that may fade as production recovers. The trend is improving as September output rose 9.2%, and the next quarter's results will show whether higher volumes and premiums turn into real earnings growth.
Quarterly Results
| Particulars | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 35,983 | 32,776 | 36,154 | 38,213 | 36,465 | 31,182 | 36,859 | 37,825 | 42,919 | 30,187 | 34,924 | 46,490 | 46,255 |
| Expenses | 22,431 | 22,738 | 23,183 | 26,826 | 22,126 | 22,565 | 24,541 | 26,034 | 30,331 | 23,471 | 25,593 | 33,817 | 34,186 |
| Operating Profit | 13,552 | 10,038 | 12,971 | 11,388 | 14,339 | 8,617 | 12,317 | 11,790 | 12,588 | 6,716 | 9,331 | 12,673 | 12,069 |
| OPM % | 38% | 31% | 36% | 30% | 39% | 28% | 33% | 31% | 29% | 22% | 27% | 27% | 26% |
| Other Income | 1,538 | 2,074 | 2,489 | 2,318 | 1,970 | 1,642 | 2,214 | 4,106 | 1,760 | 2,350 | 2,680 | 5,244 | 2,281 |
| 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 | 2,782 | 2,307 | 2,664 | 2,218 | 2,947 | 2,303 |
| PBT | 13,385 | 10,336 | 13,510 | 11,582 | 14,147 | 8,153 | 11,792 | 12,873 | 11,776 | 6,115 | 9,473 | 14,627 | 11,719 |
| Tax % | 22% | 22% | 24% | 26% | 23% | 23% | 28% | 25% | 25% | 30% | 24% | 25% | 24% |
| Net Profit | 10,498 | 8,049 | 10,292 | 8,530 | 10,944 | 6,275 | 8,491 | 9,593 | 8,788 | 4,263 | 7,166 | 10,908 | 8,850 |
| EPS in Rs | 17.08 | 13.06 | 16.64 | 13.91 | 17.78 | 10.21 | 13.8 | 15.58 | 14.27 | 7.07 | 11.61 | 17.59 | 14.36 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 74,120 | 77,861 | 78,164 | 85,244 | 99,586 | 96,080 | 90,026 | 1,09,715 | 1,38,252 | 1,44,762 | 1,69,177 | 1,68,400 | 1,57,856 |
| Expenses | 56,777 | 59,147 | 65,716 | 75,956 | 74,579 | 74,500 | 71,398 | 84,995 | 94,020 | 96,791 | 1,26,075 | 1,31,228 | 1,17,067 |
| Operating Profit | 17,343 | 18,714 | 12,448 | 9,288 | 25,007 | 21,581 | 18,628 | 24,721 | 44,232 | 47,971 | 43,102 | 37,172 | 40,789 |
| OPM % | 23% | 24% | 16% | 11% | 25% | 22% | 21% | 23% | 32% | 33% | 25% | 22% | 26% |
| Other Income | 6,570 | 5,939 | 5,316 | 4,975 | 5,834 | 6,444 | 3,742 | 3,866 | 6,560 | 8,396 | 14,037 | 16,104 | 12,555 |
| Interest | 9 | 388 | 410 | 430 | 264 | 503 | 642 | 541 | 684 | 819 | 884 | 1,216 | 1,278 |
| Depreciation | 2,320 | 2,826 | 2,907 | 3,063 | 3,450 | 3,451 | 3,718 | 4,429 | 6,833 | 6,735 | 9,092 | 10,137 | 10,132 |
| PBT | 21,584 | 21,440 | 14,446 | 10,770 | 27,127 | 24,071 | 18,009 | 23,616 | 43,275 | 48,813 | 47,163 | 41,923 | 41,933 |
| Tax % | 36% | 33% | 36% | 35% | 36% | 31% | 29% | 26% | 27% | 23% | 25% | 26% | — |
| Net Profit | 13,727 | 14,267 | 9,280 | 7,038 | 17,464 | 16,700 | 12,702 | 17,378 | 31,723 | 37,369 | 35,450 | 31,071 | 31,186 |
| EPS in Rs | 21.73 | 22.59 | 14.95 | 11.34 | 28.34 | 27.12 | 20.61 | 28.17 | 51.54 | 60.69 | 57.61 | 50.46 | 50.63 |
| Div. Payout % | 95% | 121% | 133% | 146% | 46% | 44% | 78% | 60% | 47% | 42% | 46% | 53% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 6,316 | 6,316 | 6,207 | 6,207 | 6,163 | 6,163 | 6,163 | 6,163 | 6,163 | 6,163 | 6,163 | 6,163 |
| Reserves | 34,037 | 28,517 | 18,311 | 13,971 | 20,292 | 25,994 | 30,355 | 36,980 | 54,680 | 76,567 | 95,558 | 1,12,939 |
| Borrowings | 408 | 1,199 | 3,014 | 1,538 | 2,210 | 6,434 | 5,884 | 3,514 | 4,331 | 6,523 | 9,146 | 14,072 |
| Other Liabilities | 70,505 | 77,528 | 91,054 | 1,03,754 | 1,04,356 | 1,11,430 | 1,18,649 | 1,32,780 | 1,56,222 | 1,47,217 | 1,47,311 | 1,50,782 |
| Total Liabilities | 1,11,267 | 1,13,560 | 1,18,587 | 1,25,471 | 1,33,021 | 1,50,020 | 1,61,051 | 1,79,436 | 2,21,396 | 2,36,470 | 2,58,177 | 2,83,956 |
| Fixed Assets | 16,115 | 22,082 | 23,811 | 27,574 | 32,618 | 36,784 | 42,405 | 46,677 | 64,547 | 75,668 | 82,148 | 87,252 |
| CWIP | 5,159 | 4,553 | 8,585 | 10,273 | 9,658 | 8,328 | 10,490 | 12,897 | 17,622 | 18,960 | 22,385 | 23,413 |
| Investments | 2,813 | 2,906 | 1,483 | 1,704 | 3,170 | 1,973 | 5,950 | 8,921 | 7,139 | 7,110 | 7,591 | 10,226 |
| Other Assets | 87,179 | 84,018 | 84,708 | 85,920 | 87,576 | 1,02,936 | 1,02,206 | 1,10,942 | 1,32,087 | 1,34,731 | 1,46,054 | 1,63,066 |
| Total Assets | 1,11,267 | 1,13,560 | 1,18,587 | 1,25,471 | 1,33,021 | 1,50,020 | 1,61,051 | 1,79,436 | 2,21,396 | 2,36,470 | 2,58,177 | 2,83,956 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 14,382 | 13,154 | 16,461 | 21,115 | 16,356 | 4,977 | 10,592 | 41,107 | 35,734 | 18,103 | 30,237 | 43,215 |
| Investing | 894 | 8,154 | 455 | -7,747 | -7,896 | 1,033 | 182 | -25,715 | -23,465 | -4,486 | -11,114 | -33,955 |
| Financing | -15,026 | -19,587 | -17,598 | -13,564 | -10,885 | -4,791 | -8,453 | -13,441 | -13,704 | -13,899 | -13,308 | -11,801 |
| Net Cash Flow | 250 | 1,721 | -682 | -196 | -2,426 | 1,219 | 2,321 | 1,951 | -1,436 | -282 | 5,815 | -2,541 |
| Free Cash Flow | 9,480 | 7,368 | 7,785 | 12,586 | 9,356 | -612 | -260 | 29,111 | 20,523 | 1,353 | 15,958 | 30,783 |
| CFO/OP | 138 | 112 | 204 | 307 | 105 | 48 | 86 | 189 | 103 | 62 | 97 | 129 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 42 | 54 | 58 | 27 | 20 | 55 | 80 | 38 | 34 | 33 | 27 | 31 |
| Inventory Days | 375 | 541 | — | — | — | — | — | — | — | — | — | — |
| Days Payable | 50 | 215 | — | — | — | — | — | — | — | — | — | — |
| Cash Conversion Cycle | 367 | 380 | 58 | 27 | 20 | 55 | 80 | 38 | 34 | 33 | 27 | 31 |
| Working Capital Days | 0 | 9 | -23 | -59 | -34 | 23 | 54 | -3 | -11 | 25 | -4 | 4 |
| ROCE % | 52% | 57% | 46% | 45% | 107% | 72% | 46% | 54% | 78% | 64% | 48% | 35% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Coal India insights
64 extracted metrics + investor summaries across FY10–FY27.
Documents
Frequently Asked Questions about Coal India
What does Coal India Ltd do?
Where is Coal India Ltd (COALINDIA) listed?
Which sector does Coal India Ltd belong to?
What is the market capitalisation of Coal India Ltd?
What is the PE ratio of Coal India Ltd?
What is the 52-week high and low of Coal India Ltd?
Does Coal India Ltd pay dividends?
What is the Return on Equity (ROE) of Coal India Ltd?
Company Information
Coal India Ltd is mainly engaged in mining and production of Coal and also operates Coal washeries. The major consumers of the company are power and steel sectors. Consumers from other sectors include cement, fertilizers, brick kilns
For AI agents and developers
Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/COALINDIA.md for Coal India Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.
Append .md to any Tapetide URL for the
same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live,
structured queries instead of documents, use our MCP server.