Coal India Limited (COALINDIA) share price
₹414.50 on NSE as of 2026-10-07. +0.69% on the day. market cap ₹255,445 Cr. P/E 8.2. 52-week range ₹370.05 to ₹481.65. Oil Gas & Consumable Fuels.
Coal India Q1 FY27: Offtake Up 4%, Production Down 7%, and a ₹55,728 Crore Provision Still Waiting Its Turn
At a glance
Coal India digs coal out of the ground and sells it, mostly to power stations. It produces about 80% of the coal India mines.
Sales in the three months to June 2026 came to ₹46,255 crore. The same three months a year earlier brought in ₹42,919 crore. That is a rise of 7.8%.
After every cost, interest payment and tax, ₹8,852 crore was left. That final figure is called net profit. A year earlier it was ₹8,797 crore, so it barely moved.
The physical numbers went two ways. The company mined 169.63 million tonnes of coal, 7% less than a year earlier. It despatched 197.86 million tonnes to customers, 4% more. Despatch means coal actually sent out to buyers, rather than coal lifted from the seam.
Selling more than was dug has one possible source. The difference came out of the stockpile, which is coal already mined but not yet sold. That pile fell from 130.28 million tonnes at the start of April to 101.35 million tonnes at the end of June.
A coal stockpile is the only inventory that can be seen from an aeroplane, and this one lost roughly 29 million tonnes in a quarter.
Introduction
Coal India mines coal and sells it. The government owns it, and it is the largest coal producer in the world.
It was created in 1975, when India took the coal mines into state ownership. All of them were placed under a single company, which is the one that trades today. It runs from Kolkata, under the Ministry of Coal. It holds the Maharatna label, which is given to the largest state-owned firms.
The scale is easier to state than to picture. About 80% of the coal India produces comes from this company. More than four-fifths of what it despatches goes to power stations, so much of the country's electricity begins in its pits.
It works 310 mines across eight states. It sits on roughly 49% of India's proven coal reserves, meaning the coal that has been measured and can be dug out with current methods.
The recent direction of travel has been outwards from coal, in two ways.
The first is corporate. The company has been listing and part-selling its own subsidiaries. Units that were wholly owned arms now have outside shareholders of their own, and a share price of their own to answer to.
Business model
Coal India digs up rocks and sells them to people who set the rocks on fire. That has been the model for five decades.
The buyers are concentrated. Power stations take roughly four-fifths of everything despatched. Steel mills take much of the rest. Cement works, fertiliser plants and brick kilns come behind them.
The product is not one thing. It runs from coking coal, used in making steel, through ordinary burning coal, to washed grades and the leftovers of washing. Heat coal hard enough and tar, oils and pitch come off it. Each of those finds a buyer too.
The coal leaves the gate at two different kinds of price. Most of it moves under long-term supply agreements with power stations at a set rate. Such an agreement fixes quantity and rate for years ahead, rather than sale by sale. In the three months to June 2026 that covered 168.07 million tonnes at ₹2,099.41 a tonne.
The rest is auctioned, with buyers bidding and the highest offers taking the coal. That came to 26.52 million tonnes at ₹3,085.44 a tonne.
So about 87% of the coal leaves at a rate agreed in advance. The other 13% leaves at whatever buyers offer on the day.
Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for Coal India Limited.
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