Bharat Coking Coal Limited has announced its audited financial results for the fourth quarter and financial year ended March 31, 2026. The board meeting held on April 22, 2026, approved the standalone financial results along with several key business decisions including price revisions for washed coking coal products.

Financial Performance Overview

The company's financial performance showed significant deterioration in Q4 FY26. Revenue declined to ₹32.8 billion compared to ₹38.65 billion in the corresponding quarter of the previous year, marking a substantial year-on-year decline. The operational performance deteriorated significantly with EBITDA turning negative at a loss of ₹3.35 billion compared to a gain of ₹620 million in Q4 FY25.

For the full year FY26, the company recorded a profit of ₹128.28 crore, significantly lower than ₹1,240.19 crore in FY25, marking a decline of approximately 90%. Total income for the year declined to ₹14,924.26 crore from ₹16,516.29 crore in the previous year.

Operational Metrics and Production

The company's operational performance reflected the challenging market conditions. Raw coal production for Q4 FY26 was 10.87 million tonnes compared to 11.44 million tonnes in Q4 FY25. Offtake for the quarter was 7.22 million tonnes against 9.88 million tonnes in the previous year.

For the full year FY26, raw coal production stood at 35.52 million tonnes compared to 40.50 million tonnes in FY25, while offtake was 33.05 million tonnes against 38.26 million tonnes in the previous year.

Price Revisions and Business Decisions

The board approved price revisions for washed coking coal effective from April 1, 2026, for Q1 of FY 2026-27. The basic price has been set at ₹13,403 per MT for Washed Prime Coking Coal and ₹10,937 per MT for Washed Medium Coking Coal. Additionally, the board approved revised evacuation charges for washery products: ₹731/₹878 per MT for Washed Coal @ 65%, ₹225/₹270 per MT for Washed Power Coal @ 20%, and ₹169/₹202 per MT for Rejects/Slurry @ 15%.

The board also approved the waiver of Performance Incentive and Discount in Price to Power Consumers (up to 10% in various slabs) for lifting beyond 100% of Annual Contracted Quantity.

Balance Sheet and Cash Flow Position

As of March 31, 2026, the company's total assets stood at ₹20,585.35 crore, up from ₹17,283.48 crore in the previous year. Total equity was ₹5,778.80 crore, while total liabilities amounted to ₹14,806.55 crore. Cash and cash equivalents increased to ₹367.09 crore from ₹167.54 crore at the end of FY25.

Auditor's Report and Key Observations

Nag & Associates, Chartered Accountants, issued an unmodified opinion with emphasis of matter on several points including the revision of accounting treatment for Input GST on capital goods from FY 2025-26, ongoing physical verification of store items, and pending reconciliations of certain debit/credit balances. The auditors also noted changes in the accounting treatment of levies on coal production and sales, with the company now treating certain levies as principal rather than agency collections.

Bharat Coking Coal Limited has informed stock exchanges about the illegal stoppage of coal mining and dispatch operations at its ABOCP Mine under Block-II. The disruption, caused by unorganised persons, has halted production and transportation activities since April 2, 2026 at approximately 3:00 PM and continues to impact operations.

Background of the Dispute

The current disruption stems from longstanding issues with local workers who were previously engaged for shale picking and segregation work at railway sidings. According to the company's disclosure, these workers were originally deployed by transport contractors but have become increasingly difficult to accommodate due to operational changes.

The company explained that departmental production has been reduced drastically over time, leaving negligible scope to accommodate the large number of persons seeking employment. Additionally, coal crushing has become mandatory in outsourcing production, which has rendered shale-picking work largely irrelevant.

Previous Arrangements and Agreements

An agreement with local administration dated August 18, 2020 had acknowledged that the supply of persons was much higher than the actual requirement. Under this arrangement:

Despite this structured arrangement, the workers frequently raise demands for full-time HPC wages and other allied benefits, leading to recurring disputes.

Company's Response and Actions

Bharat Coking Coal Limited has taken immediate action to address the illegal stoppage of operations. The company has implemented a comprehensive response strategy involving multiple authorities:

• Filed a complaint with SSP Dhanbad with copies to all concerned authorities
• Contacted DIG (CISF) BCCL with copies to relevant departments
• Lodged FIR at Baghmara Police Station
• Informed HoD (IR) BCCL, D (HR) BCCL and other headquarters authorities

Current Impact on Operations

The stoppage has completely halted coal production and dispatch activities at the ABOCP Mine under Block-II. The disruption began on April 2, 2026 at approximately 3:00 PM and continues to affect the company's mining operations. The company has not provided any timeline for resumption of activities, as the situation remains under investigation by law enforcement authorities.

The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, highlighting the material impact of the operational disruption on the company's business activities.