Coal India shares are up 2% in early trade today after the Q4FY26 earnings. The company has retrospectively restated the FY24/25 financials following an audit-led reassessment of coal levy accounting, shifting certain levies from agent to principal basis. Due to this adjustment, the company has now added the collected cess to revenue and adjusted it in other expenses.
Coal India Q4FY26 results
The state-owned firm posted a consolidated net profit growth of 11.1% to Rs 10,839.18 crore in Q4FY26, compared to Rs 9,751.64 crore in the year-ago period.
The Maharatna company said its revenue from operations increased to Rs 46,490.03 crore from Rs 43,961.56 crore in the same quarter of the last fiscal year.
The expenses rose to Rs 37,107.07 crore in Q4FY26, compared to Rs 34,999 crore in the year-ago period.
For the full fiscal year 2026, the company’s net profit dropped to Rs 31,094.29 crore as against Rs 35,505.79 crore recorded in FY25. The revenue declined to Rs 1,68,400.29 crore over Rs 1,69,177.37 crore for the year ended March 31, 2025.
Coal India: Brokerages are divided on Coal India
Motilal Oswal Financial Services has reiterated ‘Buy’ with a target of Rs 530 per share. This implies 17% upside from current levels. According to the domestic brokerage house, Coal India delivered a decent performance, mainly supported by higher e-auction volumes (which accounted for 14% of total volumes).
They expect Coal India to post a 4% volume growth annually between FY26-FY28 on a compounded basis. While a higher share of e-auction volumes with better premiums will support overall margins, Motilal Oswal expects “the company’s focus on increasing coal-washer capacity will improve its market share in domestic coking/non-coking coal. Further, management remains focused on expanding its coal mining operations, which will be funded through internal accruals.”
Meanwhile, JM Financial has a ‘Reduce’ rating on the stock. The brokerage house is concerned about the almost flat sales and declining realisation without the adjustments.
Coal India announces dividend
The board of directors declared a final dividend of Rs 5.25 per equity share for FY6 and added that the payment of final dividend for 2025-26 will be made subject to approval of shareholders in the ensuing AGM.
Coal production
Apart from earnings, the company has planned a comprehensive 10-year roadmap to cut the present 243 MT coal import volume through ramped-up domestic production, coal quality upgrades, and logistics cost parity, reported PTI, citing a source.
The suggested plan for reducing coal imports features a comprehensive forensic audit of imports, supported by tailored policies for specific sectors and gradual transition strategies to boost local production.
Additionally, it will incorporate the National Washery & Logistics Grid to optimise coal washing and transportation, tackling significant obstacles in the supply chain.
The company produced 768.19 million tonnes (MT) of coal in 2025-26, compared to 781.06 in 2024-25. The coal offtake in FY26 was 744.88 MT over 762.98 MT in 2024-25.
Coal India share price performance
The share price of Coal India has risen 2.4% in the last five trading sessions. The stock has surged 0.9% over the last one month and 16% in the past six months. Coal India’s share price has increased investors’ wealth by 14.5% over the previous 12 months.