Coal India Limited held its 52nd Annual General Meeting on August 31, 2026, approving a final dividend of ₹5.25 per equity share for FY26. The payout maintains the total annual dividend at ₹26.50 per share despite a moderation in profitability.

The Maharatna PSU reported consolidated revenue from operations of ₹1,68,400 crore in FY26, down slightly from ₹1,69,177 crore in the previous year. Profit after tax (PAT) declined to ₹31,071 crore from ₹35,450 crore, while EBITDA fell to ₹53,276 crore from ₹57,139 crore.

Operational and Financial Overview

Production stood at 768.19 million tonnes against 781.06 million tonnes previously, with offtake at 744.83 million tonnes. The company attributed the dip in operational metrics to heavy rainfall in Q2 and evacuation constraints, though Q4 showed recovery. E-auction allocations rose to 101.72 million tonnes from 89.38 million tonnes, but average premiums moderated to 38% from 48%.

What the Numbers Show

While top-line revenue remained stable, profitability contracted significantly due to lower average realizations and higher depreciation. EBITDA margins slipped to 32% from 34%, and net profit margins declined to 18% from 21%. Despite the profit dip, return on average equity remained robust at 30%, supported by a strong balance sheet with net worth rising 17% to ₹1,19,102 crore.

Strategic Developments

The AGM approved several key appointments:

• Shri B. Sairam appointed as Whole-time Director to function as Chairman-cum-Managing Director.
• Shri Ashim Kumar Modi appointed as Part-time Official Director.
• Shri Asheesh Kumar appointed as Whole-time Director (Business Development).
• Smt Sona Kumari appointed as Independent Director.

Coal India also highlighted progress in diversification, including the listing of subsidiaries Bharat Coking Coal Limited and Central Mine Planning and Design Institute Limited. The company laid the foundation stone for India’s first commercial coal gasification project, a ₹25,000 crore joint venture with BHEL. Additionally, GST revision on coal eliminated the inverted duty structure, allowing utilization of ₹5,985 crore in input tax credit, improving working capital efficiency.

Coal India has disclosed that nearly 84 of its mines are currently operating at a loss, underscoring significant operational challenges within its mining portfolio.

Loss-making mines at a glance

The disclosure highlights that a substantial number of mines under Coal India's operations are financially unviable at present. The figure of nearly 84 loss-making mines points to the scale of the challenge facing the state-owned miner.

Operational context

Coal India is one of the largest coal producers in the world and operates a vast network of mines across multiple subsidiaries in India. The presence of nearly 84 loss-making mines within its portfolio reflects the operational and cost pressures that can affect large-scale mining enterprises.