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Coal India

COALINDIA NSE
₹399.65 +1.90 (+0.48%)
P/E
7.38
View as Markdown
MCP
Close 4 Nov 2026 ₹399.65 +26.50 +7.10% 1Y
Start ₹373.15

Key Fundamentals

LargecapConsumable FuelsEnergy

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
35.00%
Debt to Equity
0.12
EPS (TTM)
₹54.13
Book Value
₹206.84
Market Cap
—
P/E (TTM)
7.38
P/B
1.93
ROE
28.20%
Dividend Yield
3.96%
EBITDA
₹52,518 Cr
52W High
₹491.25
52W Low
₹369.60
Day Range
₹396.05 – ₹401.35
Volume
54,09,205

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

60 Good

Data confidence 100/100

Category scores

Quality
82
Strong
Returns, margins, earnings quality 22% weight
Valuation
78
Strong
Cheap vs sector & own history 24% weight
Growth
45
Weak
Sales & profit trajectory 9% weight
Financial Health
62
Good
Solvency, leverage, coverage 9% weight
Momentum
29
Poor
Trend strength, vol-adjusted 12% weight
Ownership
50
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

3
  • Stock is providing a good dividend yield of 6.81%.
  • 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%

No weaknesses listed

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1171
OscillatorsBearish270
Moving AveragesStrong Bearish901

Key readings

RSI (14)
44.72
Neutral
MACD (12,26,9)
−4.46
Bearish
SMA (50)
412.56
Bearish
SMA (200)
433.10
Bearish

As of

Analyst Rating

Based on 25 analysts
BUY68%

17 of 25 analysts rate Buy, 6 Hold, 2 Sell.

As of

BUY
17
68%
HOLD
6
24%
SELL
2
8%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Sep 2026 against Sep 2025.

Revenue

Revenue growth by window
10Y+8.02%
5Y+13.34%
3Y+6.80%
1Y−0.46%
TTM+11.48%

Net profit

Net profit growth by window
10Y+8.09%
5Y+19.59%
3Y−0.69%
1Y−12.35%
TTM+7.84%

Operating cash flow

Operating cash flow growth by window
10Y+12.63%
5Y+32.47%
3Y+6.54%
1Y+42.92%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−1.97 pp
5Y+1.38 pp
3Y−9.92 pp
1Y−3.41 pp
TTM−3.31 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹78,164 Cr
Mar 2018₹85,244 Cr
Mar 2019₹99,586 Cr
Mar 2020₹96,080 Cr
Mar 2021₹90,026 Cr
Mar 2022₹1,09,715 Cr
Mar 2023₹1,38,252 Cr
Mar 2024₹1,44,762 Cr
Mar 2025₹1,69,177 Cr
Mar 2026₹1,68,400 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹9,280 Cr
Mar 2018₹7,038 Cr
Mar 2019₹17,464 Cr
Mar 2020₹16,700 Cr
Mar 2021₹12,702 Cr
Mar 2022₹17,378 Cr
Mar 2023₹31,723 Cr
Mar 2024₹37,369 Cr
Mar 2025₹35,450 Cr
Mar 2026₹31,071 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹10,972 Cr −4.1% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 30 Oct 2026
AI opinion · based on fundamentals
Risk medium

Coal India Ltd trades at ₹389 as of 2026-10-30 with a market cap of ₹2,36,187 Cr, a PE of 7.19x, and ROE of 25.68%. The stock sits 20.8% below its 52-week high of ₹491.25 while maintaining a near-debt-free balance sheet at 0.12x debt-to-equity. The company has delivered a 10-year compounded sales growth of 8% and a 5-year ROE average of 42%, though 3-year profit growth has turned negative at -1%.

Bull Case 8
  • Deeply undemanding valuation with a trailing PE of just 7.19x against an EPS of ₹54.13, suggesting the market is pricing in significant pessimism relative to current earnings power
  • Exceptional return on equity track record with a 5-year average ROE of 42% and a 3-year average of 38%, well above cost of equity for most capital-intensive businesses
  • Near debt-free balance sheet with debt-to-equity of just 0.12x, providing substantial financial flexibility and resilience through commodity cycles
  • Attractive dividend yield of 6.81% supported by a healthy payout ratio of 46.8%, offering meaningful income even if the stock price remains range-bound
  • Solid long-term revenue trajectory with 10-year compounded sales growth of 8% and 5-year compounded sales growth of 13%, reflecting steady volume and realisation expansion
  • TTM sales growth of 11% indicates continued top-line momentum, suggesting underlying demand for coal remains firm in the near term
  • Price-to-book ratio of 2.01x is modest for a company generating 25.68% ROE, implying the market is not assigning a premium for consistently high capital efficiency
  • 5-year stock CAGR of 18% demonstrates that the market has rewarded the company's operational performance over the medium term
Bear Case 8
  • 3-year compounded profit growth has turned negative at -1%, signalling that earnings momentum may have peaked despite revenue still growing at 7% over the same period
  • The stock trades at ₹389, down 20.8% from its 52-week high of ₹491.25, indicating sustained selling pressure and weakening sentiment
  • Last year ROE dropped to 28% from the 5-year average of 42%, a sharp decline that could signal margin compression or rising cost pressures
  • 10-year stock CAGR of just 2% highlights very poor long-term capital appreciation for equity holders despite the company's profitability
  • 1-year stock CAGR of 0% shows the stock has delivered no capital gains over the past year, with returns limited to dividends alone
  • As the dominant domestic coal producer, the company faces structural headwinds from India's expanding renewable energy capacity and long-term energy transition policies aimed at reducing coal dependence
  • A divergence between TTM sales growth of 11% and TTM profit growth of 7% suggests margin erosion, with costs rising faster than revenue
  • The current ROE of 25.68% while still healthy represents a meaningful step-down from the 10-year average of 43%, indicating a potential normalisation trend in profitability

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Coal India delivered strong Q2 FY27 numbers with 57% YoY profit growth and record October dispatches, supported by higher e-auction premiums and robust power demand. However, the market remains skeptical — the stock trades at just 7.8x P/E — as growth was partly driven by unsustainable inventory drawdowns, H1 production missed targets by 8%, and costs are rising. The ~6.7% dividend yield and multiple Buy ratings from brokerages provide a floor, but sustaining current earnings momentum depends on production catching up with offtake and e-auction premiums holding as seasonal tailwinds fade.

Headwinds 5
  • EBITDA miss, stock slides 4.4% Oct 30

    Adjusted EBITDA of ~₹73.9 billion missed estimates by ~37% due to aggressive inventory liquidation. Stock fell to intraday low of ₹380.70, down ~9.5% over the past month and well below 52-week high of ₹491.25.

  • H1 production below target Oct 30

    H1 FY27 production fell 2% YoY to 321 MT against a target of 348.5 MT, with subsidiaries like Northern Coalfields and Bharat Coking Coal missing targets. Offtake exceeded production at 384.2 MT, relying on unsustainable inventory drawdowns of 49%.

  • Rising costs pressure margins Oct 30

    Higher explosives, fuel, and contractual expenses drove total expenditure up 17% YoY. H1 EBITDA margin was 29%, down from 32% in March 2026, and Q2 profit fell 26% sequentially from Q1's ₹8,850 crore.

Positives 4
  • Q2 profit surges 57% YoY Oct 29

    Consolidated net profit jumped 57% YoY to ₹6,547 crore on revenue of ₹44,179 crore (up 21% YoY). EBITDA rose 29% to ₹8,499-11,447 crore with average realisation up 7% to ₹2,346 per tonne.

  • Record coal supplies in October Nov 1

    October FY27 coal supplies hit all-time high of 70.3 MT with power sector supplies crossing 57 MT for the first time (up 19% YoY). Production reached monthly record of 67.2 MT with railway rake loading at record 310 rakes/day.

  • Generous dividend, ~6.7% yield Oct 29

    Board declared second interim dividend of ₹10.25/share on Oct 29 with Nov 4 record date, taking FY27 total to ₹15.75/share. Trailing dividend yield stands at ~6.7% with ₹1.88 lakh crore distributed since 2010 listing.

Neutral 3
  • SECL IPO DRHP filed Nov 2

    Coal India filed DRHP with SEBI on Nov 1 for subsidiary SECL's proposed IPO involving an offer for sale of 668 million shares at ₹2 face value. Offering remains subject to regulatory approvals and market conditions.

  • October e-auction allocation strong Nov 1

    October 2026 e-auctions allocated 118 lakh tonnes at 91% allocation rate with 140% average premium over notified price. Cumulative Apr-Oct allocation reached 689 lakh tonnes at 44% rate.

  • Coal gasification MoU with HURL Oct 18

    Coal India signed non-binding MoU with HURL on Sep 29 to explore coal gasification-based urea plant at Sindri, Jharkhand, part of India's ₹46,000 crore coal gasification mission targeting 100 MTPA by 2030. High capital requirements of ~$500 million per MTPA capacity and long gestation periods remain challenges.

Quarterly Results

₹ Cr
COALINDIA quarterly results, ₹ crore
Particulars Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
32,776
36,154
38,213
36,465
31,182
36,859
37,825
42,919
36,553
34,924
46,490
46,255
44,179
Expenses
22,738
23,183
26,826
22,126
22,565
24,541
26,034
30,331
29,960
25,593
33,817
34,186
35,680
Operating Profit
10,038
12,971
11,388
14,339
8,617
12,317
11,790
12,588
6,593
9,331
12,673
12,069
8,499
OPM %
31%
36%
30%
39%
28%
33%
31%
29%
18%
27%
27%
26%
19%
Other Income
2,074
2,489
2,318
1,970
1,642
2,143
4,106
1,760
2,350
2,680
5,128
2,281
2,948
Interest
182
227
232
209
208
226
241
265
287
321
344
327
339
Depreciation
1,594
1,723
1,892
1,952
1,898
2,513
2,782
2,307
2,664
2,218
2,947
2,303
2,379
PBT
10,336
13,510
11,582
14,147
8,153
11,721
12,873
11,776
5,992
9,473
14,511
11,719
8,728
Tax %
22%
24%
26%
23%
23%
28%
25%
25%
30%
24%
25%
24%
25%
Net Profit
8,049
10,292
8,530
10,944
6,275
8,491
9,593
8,788
4,167
7,166
10,908
8,850
6,547
EPS (₹)
13.06
16.64
13.91
17.78
10.21
13.8
15.58
14.27
6.91
11.61
17.59
14.36
10.57

Profit & Loss

₹ Cr
COALINDIA profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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
1,71,848
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
1,29,276
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
42,572
OPM %
23%
24%
16%
11%
25%
22%
21%
23%
32%
33%
25%
22%
25%
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
13,153
Interest
9
388
410
430
264
503
642
541
684
819
884
1,216
1,331
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
9,847
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
44,547
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
35,302
31,071
33,471
EPS (₹)
21.73
22.59
14.95
11.34
28.34
27.12
20.61
28.17
51.54
60.69
57.61
50.46
54.13
Div. Payout %
95%
121%
133%
146%
46%
44%
78%
60%
47%
42%
46%
53%
—

Balance Sheet

₹ Cr
COALINDIA balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 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
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
1,21,307
Borrowings
408
1,199
3,014
1,538
2,210
6,434
5,884
3,514
4,331
6,523
9,146
14,072
15,668
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
1,58,295
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
3,01,433
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
96,066
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
15,978
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
12,225
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
1,77,163
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
3,01,433

Cash Flow

₹ Cr
COALINDIA cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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/EBITDA
138
112
204
307
105
48
86
189
103
62
97
129

Ratios

COALINDIA financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Coal India insights

71 extracted metrics across FY11–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 61.13%
  • DIIs 23.45%
  • FIIs 9.59%
  • Public 4.39%
  • Others 1.34%
  • Government 0.10%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

  • Q2 FY27 concall · Oct 2026
    PPT
  • Q2 FY27 concall · Oct 2026
    PPT
  • Q1 FY27 concall · Jul 2026
    PPT
  • Concall · Apr 2026
    PPT
  • Concall · Feb 2026
    PPT

Frequently Asked Questions about Coal India

What does Coal India Ltd do?
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
Where is Coal India Ltd (COALINDIA) listed?
Coal India Ltd trades as COALINDIA on the NSE and under code 533278 on the BSE.
Which sector does Coal India Ltd belong to?
Coal India Ltd is classified under the Energy sector, in the Consumable Fuels industry.
What is the PE ratio of Coal India Ltd?
Coal India Ltd trades at a PE ratio of 7.38 as of 4 Nov 2026, on earnings per share of ₹54.13, against a book value of ₹206.84 per share.
What is the 52-week high and low of Coal India Ltd?
Over the last 52 weeks Coal India Ltd has traded between ₹369.6 and ₹491.25 as of 4 Nov 2026.
Does Coal India Ltd pay dividends?
Coal India Ltd has a dividend yield of 3.96%.
What is the Return on Equity (ROE) of Coal India Ltd?
Coal India Ltd reported a return on equity of 28.20%. Its debt-to-equity ratio is 0.12.

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

Website coalindia.in
CEO Mr. Mukesh Agrawal
Employees 2,20,272
Listed 4 Nov 2010
Face Value ₹10

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