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Coal India Q4 Results 2026 Highlights: Coal India announced its Q4 results today after market trading hours. The board of directors of the state-run mining giant was scheduled to meet today, 27 April 2026, to consider and approve the Audited Financial Results of the Company (Standalone & Consolidated) for the fourth quarter and the Financial Year ended 31st March, 2026.

Coal India’s Board of Directors also recommended a final dividend of ₹5.25 per share of face value of ₹10 each along with the earnings announcement.

Defying expectations, Coal India posted a higher consolidated PAT during the quarter under review.

Coal India's PAT jumped 11.15% YoY to ₹10,839 crore in Q4. The state-owned company had reported a net profit of ₹9,751 crore in the same period last year. Sequentially, too, net profit improved 51.4% from ₹7,157 crore reported in the December quarter.

The revenue also rose by 5%, aided by higher average realization even though the sales declined marginally.

Its consolidated revenue from operations during the quarter under review stood at ₹46,490 crore compared with ₹43,961 crore in the year-ago period.

The average realization was higher by 6% YoY to ₹2289.58 per tonne while overall sales were down 1% at 198.83 tonne, Coal India informed.

A look at CIL's subsidiaries' PAT in Q4

The company's EBITDA was higher by 12% YoY to ₹17,917 crore as against ₹16,040 crore.

During the fourth quarter, Coal India said its production declined by 1% to 239 MT from 237.69 MT. Meanwhile, coal offtake was lower by 2% YoY to 199.14 MT. OB removal was flat, down 0.2%, at 577.44 M.cum.

Board of Directors of Coal India at its meeting declared Final Dividend for the Financial Year 2025-26 @ ₹5.25 per equity share on the face value of ₹10/- as recommended by the Audit Committee of CIL at its meeting held on date.

Payment of Final Dividend for FY 2025-26 shall be made subject to approval of Shareholders in the ensuing AGM.

Coal India's Q4 revenue from operations rose 5.75% to ₹46,490.03 crore in Q4FY26 from ₹43,961.56 crore in Q4FY25.

Coal India's consolidated profit rose 11% YoY to ₹10,839.18 crore as against ₹9,751.64 crore in the same period last year.

The company's shares staged a strong recovery in recent months, surging 25.5% to ₹452 apiece since November 2025 on expectations of strong summer demand and support from firm international coal prices amid geopolitical disruptions.

Although the stock has recovered sharply, it still remains 17% below its record peak of ₹543, touched in August 2024. Between August 2023 and August 2024, the stock witnessed a one-way rally, delivering a massive 129% return to shareholders.

For the quarter ended December, the company reported a consolidated net profit of ₹7,165 crore, lower than the ₹8,491 crore reported in the same period last year.

The performance was impacted by weaker sales, higher operating costs, and weak realisations. Its consolidated revenue from operations during the quarter also fell by 4.7% to ₹30,818 crore but improved by 14.5% on a quarter-on-quarter basis.

Analysts expect a weaker performance from Coal India amid weak production and dispatches, impacted by rising competition and softer demand from thermal power plants.

According to domestic brokerage firm Equirus Securities, the company's coal production increased marginally by 0.5% year-on-year to 238.9 mt in Q4FY26, while dispatches declined by 1.1% year-on-year to 199.1 mt, primarily due to market share loss to merchant miners.

Systematix Institutional Equities said Coal India continues to lag its mining peers, with consistently declining offtake and a bleak growth outlook, and is likely to report a 4% year-on-year decline in EBITDA in Q4 FY26. It expects the company's revenue and net profit to drop 9% and 1%, respectively.

In the mining space, Systematix Group expects EBITDA to moderately grow by 2% YoY driven by NMDC’s 32% YoY growth in EBITDA and MOIL’s 16% growth with a sharp rise in volume.

Coal India continues to lag mining peers with a consistently declining offtake and a bleak growth outlook, slated for a 4% YoY decline in EBITDA.

For Coal India, Elara Capital sees a 5.3% YoY rise in sales along with a 6.3% growth in PAT and a 5.6% increase in EBITDA.

Blended realizations are expected to be at ₹1,707/ton (+1% yoy) in 4QFY26 and e-auction realizations of ₹2,573/ton (-2% yoy, but higher qoq), said Kotak Institutional Equities.

Weak dispatches of 198 mn tons (-2% YoY) in 4QFY26 will affect earnings during the quarter, said Kotak Institutional Equities as it estimates a 9.8% YoY decline in Q4 PAT and over 1% fall in sales.

Nuvama said that it expects lower volume (-1.4% YoY; 198mt), increase in blended realisation (1.4% YoY; INR1,726/t) and lower CoP (1% YoY; INR1,318/t) to increase EBITDA (ex-OBR) and EBITDA/t by 8.8% and 10% YoY to INR 122bn and INR 618/t respectively.

Axis Securities expects Adj EBITDA (excl OBR) to decline YoY, led by lower coal offtake, leading to lower operating leverage. It sees a 6.7% decline to ₹11,005 crore. Meanwhile, PAT could tumble 16% YoY to ₹8,063 crore.

Revenue to decline YoY led by lower coal offtake. We model 54% e-auction premium (62% in Q3FY26 and 69% in Q4FY25) and 10% e-auction volumes (vs. 10%/11% in Q3FY26/Q4FY25).

— Axis Securities

Shares of Coal India closed 0.33% lower at ₹454.40 apiece on the NSE today ahead of the Q4 results announcement today.

Coal India reported production of 239mt in Q4FY26 vs 200mt in Q3FY26 (up ~19% QoQ; flat YoY). Emkay Global expects adjusted EBITDA (ex-OBR) to rise sequentially to ₹114.6 bn from ₹78.7 bn in Q3 (up ~46% QoQ and 2.1% YoY), driven by expectations of higher e-auction realizations and improved offtake amid rising power demand.Ankit Gohel is the Deputy Chief Content Producer at Livemint, specialising in financial markets, macroeconomics, and regulatory developments. With a strong focus on equity markets, primary issuances, and policy-driven market movements, he brings clarity to complex financial developments for investors and market participants.

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