Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 1 Oct - Coal India September supplies rose 12.5% to 61.20 MT; Q2 supplies 186.04 MT and production 53.50 MT.
Source: Bse
Coal India Limited (COALINDIA)
Large CapEnergy stocks · Large cap · NSE
Coal India Limited (CIL) is a Maharatna company engaged in coal mining. It is diversifying into solar power, thermal power generation through a JV with DVC, and critical minerals like Rare Earth Elements and Copper, alongside a new renewable energy subsidiary.
₹411.7
-5.50 · -1.32%
Market cap ₹2,56,487 Cr
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals14 Oct 2026 · screener
Latest result16 Aug, 01:30 am IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags15 Aug 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Energy P/E 11.4 (n=18)
Technical timing lens
Trend score and candlestick chart
38BearishMACD − · sector -3.5pp vs Nifty 500 (3M)
Stock trend: 42
Sector RS: 31
Sector 3M: -9.1% vs Nifty 500 -5.6%
Energy FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
COALINDIAD candles · FIT view-9.7%Latest close ₹411.70 on 2026-10-19
Bar
-1.3%
RSI
46
MACD hist
-0.49
52W pos
35%
2026-10-19O ₹417.20H ₹419.80L ₹411.70C ₹411.70Vol 30.9L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
COALINDIANifty EnergyNifty 500
- COALINDIA
- -4.1%
- Nifty 500
- -5.6%
- Nifty Energy
- -9.3%
- Vs Nifty 500
- +1.5 pp
Chart stats
19 Oct 2026- From 52W high
- -16.2%
- 52W range position
- 35%
- ATR (14)
- 2.0%
- Volume vs 20D
- 0.46x
- Avg traded value
- ₹273 Cr
- 20D price channel
- ₹402.1 - ₹432.9
₹491.3
₹369.6 - ₹491.3
₹8.3
Latest completed session
20-session average
22.8% annualized volatility
Research snapshot
What the evidence says now
Strong fundamentals, management evidence is still limited to a financial-only Trust Lite signal, but price trend argues for patience. Suitable for staggered entry or watchlist confirmation rather than aggressive buying.
Strong U-Score but weak trend: timing is not confirming the thesis.
Suggested next step
Add to watchlist
Fundamental setup is interesting, but technical confirmation is weak.
U-Score
Legacy · DEEP VALUE80
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad22
Revenue +7.8% · PAT +0.7% YoY
Technical
Bearish38
Price trend and sector-relative-strength timing.
Valuation
Legacy model+52.5%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence73
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 22/100margin compression · Rev +8% YoY · PAT +1% YoY
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹46,255 Cr | +7.8% | -0.5% |
| EBITDA | ₹12,069 Cr | -4.1% | -4.8% |
| Operating margin | 26.0% | -300 bps | -100 bps |
| PAT | ₹8,850 Cr | +0.7% | -18.9% |
| PAT margin | 19.1% | -135 bps | -433 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 8.20
- P/B
- 2.16
- EV/EBITDA
- 5.31
- Market Cap
- 256487.00Cr
Profitability
- ROE
- 28.20%
- ROCE
- 35.00%
- ROA
- 10.98%
- Dividend Y
- 6.38%
Growth (CAGR)
- Revenue 5Y
- 13.00%
- EPS 5Y
- 20.00%
- Revenue 3Y
- 7.00%
- EPS 3Y
- -1.00%
Balance Sheet
- Debt/Equity
- 0.12
- Interest Coverage
- 31.92×
- Altman Z
- 2.67
- Book Value
- 193.00
Cash Flow
- FCF Yield
- 3.61%
- FCF Positive Y
- 12/5
- OCF
- 43215.00 Cr
- EPS TTM
- 50.63
Shareholding
- Promoter Hold
- 61.13%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 39%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 46.3k-0.5% vs prev
Net Profit
₹ CrLatest: 8,850-18.9% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 46. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 roughly flat — short-term momentum stalled.
- RSI(14) at 46 — rising, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 16% off 52W high · 11% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
66
RS percentile
Stage 4 Downtrend
1M return
+0.4%
3M return
-4.1%
6M return
-7.3%
1Y return
+5.2%
RS 1D
+1
RS 20D
+22
Sector rank
#6
Industry rank
-
Stage evidence
- Price is 5.6% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -0.8%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 109.02-0.29%
RS vs Nifty 500109
Valuation & peers
U-Score 80 · legacy U-Score band DEEP VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 80 · legacy U-Score band DEEP VALUE · valuation evidence and comparable companies
Top Setup
Fundamental score breakdown
U band · DEEP VALUEValuation22/30
Growth21/25
Quality15/20
Balance Sheet11/15
Cash Flow6/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
80
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
80/100 · legacy band DEEP VALUE
Positive drivers
- FCF yield is supportive at 3.6%.
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 52.5%.
Main drags
- Cash flow is weaker at 6/10; verify the latest quarterly trend.
- Valuation is weaker at 22/30; verify the latest quarterly trend.
- Balance sheet is weaker at 11/15; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
8.2
PB
2.2
EV/EBITDA
5.3
ROE
28.2%
ROCE
35.0%
FCF Yield
3.6%
Debt/Equity
0.1
MoS
+52.5%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE. Current PE is low at 8.2, so peak-cycle earnings risk should be checked.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
80
Previous: 80
Legacy U-Score band
DEEP VALUE
Previous: DEEP VALUE
Margin of safety
+52.5%
Previous: +52.5%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
80
80
80
80
80
80
80
80
80
80
80
80
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹468.89
+12.2% MoS
Growth-justified P/E
17.1
Growth-justified Value
₹865.77
+52.5% MoS
PEG
0.41
Comparable companies
Peers
Business-comparable peers in Energy — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
ONGC
Large
Oil & Natural Gas Corporation Limited
Oil & Gas
match 27
75
6.5
11.6%
+62%
DEEP VALUE
IOC
Large
Indian Oil Corporation Limited
Oil Refining & Marketing
match 24
90
5.4
20.5%
+68%
DEEP VALUE
BPCL
Large
Bharat Petroleum Corporation Limited
Oil Refining & Marketing
match 22
88
8.1
28.8%
+56%
DEEP VALUE
GAIL
Large
GAIL (India) Limited
Oil & Gas
match 19
46
11.1
8.7%
-2%
FAIR VALUE
PETRONET
Large
Petronet LNG Limited
Gas Distribution
match 18
56
10.5
18.3%
+26%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-06-11T21:53:25.639Z
Management commentary snapshot
FY26 PAT declined 12% YoY to ₹31,071 Cr, and Q4 FY26 PAT increased 12% YoY to ₹10,908 Cr, despite a 2% YoY drop in FY26 coal production and offtake. Inventory surged 21% YoY.
Full-year performance shows a decline in coal production, offtake, and profitability, impacted by lower e-auction realizations and higher operating expenses including a one-time pay provision and increased cess. While Q4 saw a recovery in PAT and EBITDA, the significant increase in inventory and overall operational metrics for the year are concerning.
Current business mix
FY25-26 Coal Production by Mode
Latest issuer-disclosed distribution across 2 reported categories.
Departmental33.0%
Contractual67.0%
Growth engines
Renewable Energy Expansion
positive100 MW Solar Power plant at Patan connected to grid as on 31.03.2026. New Renewable Energy Subsidiary CIL RAJASTHAN AKSHAY URJA LIMITED incorporated.
Thermal Power Generation
positive50:50 JV with DVC to develop a brownfield thermal power project at Chandrapura, Jharkhand, with 1,600 MW (2x800 MW) supercritical units.
Critical Mineral Foray
positiveSecured Kawalapur REE Block, Maharashtra, in January 2026. MoU signed with Hindustan Copper Ltd to collaborate in copper and critical minerals sectors.
Capacity and execution
Solar Power Capacity
positive100 MW Solar Power plant at Patan was connected to grid as on 31.03.2026.
Thermal Power Project (JV)
positive50:50 JV agreement with DVC to develop a brownfield thermal power project at Chandrapura, Jharkhand, with 1,600 MW (2x800 MW) supercritical units.
Tailwinds
Inverted Tax Structure Elimination
positiveIncrease in GST on coal from 5% to 18% effective 22.09.2025, leading to utilization of accumulated ITC of ₹5985 Cr in FY25-26.
Higher Other Income
positiveOther Income increased by 19% YoY to ₹11,276 Cr in FY26, driven by higher interest received including tax refunds (₹883 Cr) and provision/liability written back (₹436 Cr).
Maiden JV Dividend
positiveCIL received ₹404.37 Cr interim dividend from HURL (a JV company) and a final dividend of ₹95.87 Cr is declared with FY25-26 results.
Headwinds
Declining Sales Volume
negativeOverall Sales Quantity decreased by 2.3% YoY to 743.60 MT in FY26, with FSA quantity down 20.47 MT.
Lower E-Auction Realization
negativeE-Auction price decreased by ₹160.76 per tonne YoY in FY26, impacting higher-margin sales.
Increased Rates & Taxes
negativeOther Expenses increased by 9% YoY to ₹44,264 Cr in FY26, primarily due to a ₹3,635 Cr increase in Jharkhand Mineral-Bearing Land Cess.
One-time Employee Provision
negativeEmployee Benefits Expense increased by 4% YoY to ₹46,425 Cr in FY26, including a one-time provision of ₹1,458 Cr for Executive pay upgradation.
Risk radar
Volume Growth Challenges
negativeCoal production and offtake volumes declined 2% YoY in FY26, indicating potential challenges in meeting demand or operational hurdles.
Inventory Buildup
negativeClosing raw coal stock increased by 21% YoY and 44% QoQ, suggesting potential oversupply or slower offtake, impacting working capital.
Realization Volatility
negativeE-Auction realizations declined YoY in FY26, indicating potential pricing pressure in the open market segment.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
Full-year (FY26 vs FY25) provides an overall trend of the business, while Q4 (Q4 FY26 vs Q4 FY25) highlights recent momentum and the impact of specific quarterly events and cost items.
Sector KPIs management disclosed
Coal Production (FY)
negativeFY25-26: 744.88 MT (down 2% YoY from 762.98 MT in FY24-25)
Coal Offtake (FY)
negativeFY25-26: 768.19 MT (down 2% YoY from 781.06 MT in FY24-25)
Overall Average Realization (FY)
positiveFY25-26: ₹2221.43 per tonne (up 2.5% YoY from ₹2166.95 per tonne in FY24-25)
EBITDA Margin on Revenue from Operation (FY)
negativeFY25-26: 32% (down from 34% in FY24-25)
Management forward view
Diversification Strategy
Management is pursuing diversification into solar power, thermal power generation, and critical minerals through JVs and new subsidiaries.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Coal Offtake Volume | FY26: 768.19 MT (down 2% YoY) | Sustained recovery and growth in offtake volumes, especially in Q1 FY27. |
| Average Realization | FY26: ₹2221.43/tonne (up 2.5% YoY) | Stability or improvement in overall realizations, particularly e-auction prices, to support profitability. |
| Inventory Levels | 129.96 MT (up 21% YoY) | Effective inventory management and reduction in closing stock to optimize working capital. |
| Operating Margins | FY26 EBITDA Margin: 32% | Margin recovery post one-time provisions and effective cost management, especially for statutory levies. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
73Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 72nd percentile of the scored universe and 53rd percentile within Energy. Main check: results consistency is weak at 48/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
111 docs text-extracted · 19 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
72nd percentile
overall median 67 · Energy: 53rd pctile, median 73 · Large: 51st pctile, median 73
Evidence depth
Financial-only
111 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
81
strong · leverage and solvency
Discipline
72
acceptable · capital discipline
Results
48
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 61.1%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 3.6%.
- ▸12 years of positive FCF.
Trust risks
- ▸Promoter holding fell 2%.
- ▸ROCE trend is -14%.
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Coal India Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Memorandum of Understanding /Agreements 29 Sep - Coal India and HURL signed non-binding MoU on 29.09.2026 for coal gasification-based urea project at Sindri.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Change in Management 29 Sep - Dr. Anjani Kumar relinquished Executive Director (Contracts) charge at Coal India from 28.09.2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 1 Sep - Coal India supplies rose 5.5% to 60.60 MT in August FY27; five-month supplies up 6.7%.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.