Coal India FY26 Results: PAT ₹31,071 Cr, FY27 Target

What Coal India reported for FY26

Coal India Limited (CIL) announced its audited financial results for the fourth quarter and the full year ended March 31, 2026, with the disclosures sourced from BSE. The company reported a consolidated Profit After Tax (PAT) of ₹31,071 crore for FY26. This marked a 12% year-on-year decline versus FY25, even as the company closed the year with stronger quarterly numbers in Q4. Revenue from operations for FY26 stood at ₹1,68,400 crore, a marginal 0.5% dip compared to ₹1,69,177 crore in FY25. The numbers were reported alongside operating data that showed lower annual production and offtake.

Q4FY26 momentum versus full-year pressure

In Q4FY26, Coal India’s consolidated performance improved on a year-on-year basis. Revenue from operations in the quarter was ₹46,490 crore, up 6% from ₹43,962 crore in Q4FY25. Consolidated EBITDA rose 12% to ₹17,917 crore from ₹16,040 crore. Profit before tax (PBT) increased 12% to ₹14,627 crore, while PAT rose 12% to ₹10,908 crore compared with ₹9,740 crore in the corresponding quarter. These quarterly gains were reported even as the full-year EBITDA and profits declined versus FY25.

Standalone snapshot: quarterly loss, lower annual profit (ex-dividend)

The standalone numbers in the provided results summary showed a different picture for Q4. Standalone profit before tax was ₹234 crore in Q4FY26, up 58% from ₹148 crore in Q4FY25. However, standalone profit after tax was reported as a loss of ₹104 crore in Q4FY26, compared with a profit of ₹99 crore in Q4FY25. For FY26, standalone PBT (excluding dividend) was ₹630 crore, down 27% from ₹859 crore in FY25. Standalone PAT (excluding dividend) was ₹176 crore, down 77% from ₹778 crore in FY25.

Key consolidated financials for FY26

For FY26, Coal India’s consolidated EBITDA was ₹53,276 crore, down 7% from ₹57,139 crore in FY25. Consolidated PBT declined 11% to ₹41,923 crore from ₹47,163 crore. Consolidated PAT fell 12% to ₹31,071 crore from ₹35,450 crore. Earnings per share (EPS) was ₹50.46 for FY26 versus ₹57.61 in FY25. The company also reported net worth of ₹1,19,102 crore as of March 31, 2026, up 17% year-on-year from ₹1,01,720 crore.

Production and offtake: FY26 down, Q4 slightly up

Operationally, total coal production for FY26 stood at 768.19 million tonnes (MT), a 2% decline year-on-year from 781.06 MT. Annual coal offtake in FY26 was 744.88 MT, also down 2% year-on-year. In the March quarter, production was 239.00 MT, up 1% year-on-year. Q4 offtake was 199.14 MT, down 2% year-on-year. The company linked the annual financial performance to these operating movements, with both production and offtake lower for the year.

Dividend actions: interim and final dividend details

Coal India’s board recommended a final dividend of ₹5.25 per equity share for FY26, with a face value of ₹10 each. The recommendation is subject to shareholder approval at the ensuing Annual General Meeting. Separately, the annual-report notes stated that in FY26 (till November 2025), CIL paid an interim dividend of ₹9,706.30 crore at ₹15.75 per share. Out of the interim dividend amount, the share of the Government of India was stated as ₹6,127.91 crore. These disclosures are relevant for investors tracking payout levels alongside earnings trends.

Annual-report operating notes: H1 sales, levies, workforce

In H1 FY26 (April 1, 2025 to September 30, 2025), CIL (consolidated) reported gross sales of ₹89,921.05 crore and net sales of ₹58,789.66 crore. The annual-report notes also said CIL and its subsidiaries paid or adjusted ₹37,507.47 crore towards levies including royalty, GST, GST Compensation Cess, cess, District Mineral Foundation (DMF), National Mineral Exploration Trust (NMET), and other levies up to November 2025 in FY26. Operationally, November 2025 production was reported at 67.99 MT, described as the highest November production since inception, up 1.2% compared with 67.18 MT in the same month a year earlier. Total manpower of Coal India Limited including subsidiaries as on January 1, 2026 was stated as 214,333.

Targets and reference figures mentioned for FY26 and FY27

The annual-report discussion notes included multiple production targets and reference figures that were highlighted as important for FY26 and FY27. The material cited an FY26 production target of 875 MT and an FY27 target of 769.35 MT. It also mentioned a target of 811 MT that was presented as a goal to be achieved, and separately referenced a production target figure of 31.38 million tonnes in the same discussion. In addition, the notes stated that total coal reserves in India were 389.422 billion tonnes, and described Coal India as contributing around 80% of India’s coal in the context provided.

Corporate actions: divestment and listings of subsidiaries

The disclosures also noted that during the fiscal year, Coal India proceeded with divestment of equity stakes in subsidiaries Bharat Coking Coal Limited (BCCL) and Central Mine Planning & Design Institute Limited (CMPDI). Both were stated to have been successfully listed on stock exchanges in early 2026. Such corporate actions can change group structure and improve visibility of subsidiary financials, but the provided information did not include post-listing stake levels or valuation metrics. Investors typically watch these steps for their implications on governance, disclosures, and capital allocation.

Key numbers at a glance

Market impact and why the update matters

Coal India’s FY26 update combines two signals that investors track closely: softer full-year profitability and stronger quarterly performance. The full-year declines in EBITDA, PBT, and PAT were reported alongside a 2% fall in production and offtake, which the company cited as key factors. At the same time, Q4 showed year-on-year growth in revenue, EBITDA, and profits on a consolidated basis, suggesting improved quarterly execution versus the prior-year quarter. Dividend actions remain a key part of the stock’s narrative, with a final dividend recommendation of ₹5.25 per share and an interim dividend already paid in FY26 (till November 2025) as per the annual-report notes.

Conclusion

Coal India closed FY26 with consolidated revenue from operations of ₹1,68,400 crore and PAT of ₹31,071 crore, while production and offtake each declined 2% for the year. The board’s recommended final dividend of ₹5.25 per share will be placed before shareholders at the upcoming AGM. Investors will also track how the company aligns operational delivery with the targets cited in the annual-report discussion for FY26 and FY27. Further clarity is expected through subsequent company communications and shareholder approvals related to dividends.