Coal India Q4 FY26 Results on Apr 27: Dividend Watch

Board meeting set for April 27

State-owned Coal India Ltd (CIL) has scheduled a board meeting for Monday, April 27, 2026, to consider and approve its audited financial results for the March quarter (Q4 FY26) and the full year ended March 31, 2026. The company said the results will be taken on record after review by the audit committee. The agenda includes both standalone and consolidated accounts.

Alongside the earnings, Coal India said the board may also consider and recommend a final dividend for FY 2025-26. Any final dividend, if declared, would require shareholder approval at the ensuing annual general meeting (AGM), as the company noted in its regulatory filing.

What the filing said

Coal India cited Regulation 29 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, for the earnings-related meeting notice. Separately, it referenced Regulation 29 for the item relating to the potential final dividend. The company has positioned the dividend decision as an “if any” item, meaning a recommendation is possible but not assured.

The exchange filing also noted the company’s compliance processes around results approval and board oversight. For investors, these disclosures matter because they define the formal timeline for audited numbers and any payout recommendation.

Result timing: likely after market, not confirmed

Coal India’s results announcement is expected post-market hours, although there is no official confirmation of the exact time. A separate reference in the provided information noted that Coal India announced its Q3 FY26 earnings at around 6:47 on February 12, 2026, and suggested the April 27 disclosure could come around a similar time.

Trading window closure

Coal India said it closed its trading window under its insider trading prevention code from April 1, 2026. The window is scheduled to re-open on April 30, 2026. Such closures typically apply to designated persons and are a standard compliance step around earnings.

Volumes: production and dispatch trends in focus

Brokerages are tracking Coal India’s recent production and dispatch numbers as signals for near-term operating momentum. Equirus Securities highlighted that in March 2026, Coal India’s production fell 1.5% year-on-year (YoY) to 84.5 million tonnes (mt), while dispatches rose 0.7% YoY to 69.5 mt.

For the full FY26 period, Equirus said production and dispatches were lower by 1.7% and 2.4% YoY at 768.1 mt and 744.8 mt, respectively. In another Q4 preview cited in the provided text, Equirus said Q4 production rose 0.5% YoY to 238.9 mt, while dispatches fell 1.1% YoY to 199.1 mt, attributing the dispatch softness primarily to market share loss to merchant miners.

Broker expectations: EBITDA pressure and target price

Equirus Securities said it expects adjusted EBITDA for Q4 FY26 to fall 8.7% YoY to ₹10,250 crore. The brokerage linked the expectation to weaker e-auction realisations, elevated coal inventories at power plants, and continued market share erosion.

Equirus also reiterated a “SHORT” stance with a March 2027 target price of ₹370, based on an unchanged one-year forward EV/EBITDA multiple of 4.5x, as mentioned in the provided text.

Separately, Systematix Institutional Equities said Coal India is likely to report a 4% YoY decline in EBITDA in Q4 FY26. It expects revenue and net profit to drop 9% and 1%, respectively, and also flagged a modest volume CAGR of around 2% over FY26-28E.

Dividend track record: interim payouts and final dividend possibility

Coal India declared a third interim dividend of ₹5.50 per equity share for FY 2025-26, decided at the February 12, 2026 board meeting. The record date and ex-dividend date were both stated as February 18, 2026 for this interim dividend.

The provided material also includes dividend tables listing prior payouts in 2025, including interim dividends of ₹10.25 (ex-date November 4, 2025), ₹5.50 (ex-date August 6, 2025) and ₹5.60 (ex-date January 31, 2025), plus a final dividend of ₹5.15 (ex-date August 21, 2025). One dividend tracker section in the provided text displayed “₹550.00 per share” for the February 18, 2026 entry, while other sections described the same February 2026 dividend as ₹5.50 per share.

Q3 FY26 base: profit and revenue already under pressure

Coal India’s Q3 FY26 consolidated net profit was reported at ₹7,166 crore, down 16% YoY, according to the provided text. Revenue from operations for the October-December quarter slipped 5% YoY to ₹34,924 crore, compared with ₹36,858 crore in the year-ago period.

These numbers are being used by the market as a reference point heading into the Q4 and full-year print, particularly as broker notes point to weaker realisations and competitive intensity.

Stock performance: recent recovery, still below peak

Coal India shares were reported closing 1.40% higher at ₹456.90 in one market update, taking six-month gains to 15.18%. Another quote in the provided text showed the stock ending at ₹438.70, up 1.34% from the previous close.

A separate performance snapshot showed gains of +1.19% (1 day), +5.37% (5 days), +0.16% (1 month), +16.13% (6 months), +14.30% (1 year), and +261.47% (5 years). The stock was also described as about 14.54% below its record peak of ₹543 (August 2024), while rising 23% to ₹464.85 since November 2025, according to the provided information.

Key facts at a glance

Why this result matters

For investors, the April 27 release is important for two reasons: audited FY26 numbers will frame Coal India’s cash generation and payout capacity, and the board could signal intent on a final dividend. Broker expectations also highlight operational and pricing headwinds, including e-auction realisations and market share shifts toward merchant miners.

The next confirmed step is the board meeting on April 27, followed by the trading window re-opening on April 30. Any final dividend, if recommended, will move to shareholder approval at the upcoming AGM.