About the company:
Coal India Limited (CIL) is the world’s largest coal mining company and a Maharatna public sector enterprise under the Ministry of Coal, Government of India. Established in 1975 and headquartered in Kolkata, CIL is responsible for over 80% of India’s coal production, supplying coal to power, steel, cement, and other industries. It operates through eight subsidiaries and has extensive mining operations across India. CIL is focused on coal production expansion, mechanization, and sustainability initiatives, including investments in renewable energy and coal gasification.
Operational Performance
Coal Production: 202.02 million tonnes (MT) (+2% YoY)
Coal Offtake: 194.41 MT (+2% YoY)
Overburden Removal (OBR): 558.91 million cubic meters (M.CuM) (+10% YoY)
E-Auction Coal Price: ₹3,285/tonne (down from ₹4,122/tonne in Q3FY24)
Rail & MGR Dispatch: 382.21 MT, accounting for 68% of total dispatch
Key Developments & Strategic Initiatives
Renewable Energy Push:
50 MW solar plant commissioned at Northern Coalfields Limited (NCL).
Coal Gasification & Diversification:
Signed an MoU with BPCL to explore Coal-to-Synthetic Natural Gas projects.
₹1,350 Cr incentive allocated for each of the three upcoming coal gasification projects.
Critical Minerals Exploration:
Signed an MoU with IREL (India) Ltd to explore critical minerals development.
Subsidiary Performance (PBT Contribution in Q3FY25)
Mahanadi Coalfields (MCL): ₹3,510 Cr
Northern Coalfields (NCL): ₹3,220 Cr
Central Coalfields (CCL): ₹1,416 Cr
South Eastern Coalfields (SECL): ₹1,488 Cr
Western Coalfields (WCL): ₹1,255 Cr
Bharat Coking Coal (BCCL): ₹515 Cr
Eastern Coalfields (ECL): ₹24 Cr
5. Challenges & Market Trends
Decline in E-Auction Prices: Lower auction realization impacted revenue.
Higher Contractual Costs: Contractual expenses increased 17% YoY, affecting margins.
Land & Environmental Clearances: Delays in mine expansion projects.
Future Outlook & Guidance
FY25 Production Target: 700 MT, with accelerated overburden removal for future growth.
Revenue Growth Drivers: Expected recovery in e-auction prices & premium coal sales.
Green Energy Investments: Expansion into solar & coal-to-chemicals projects.
Improving Logistics Efficiency: Higher rail-based coal dispatch to reduce costs.
Here is Coal India’s financial performance for the last three quarters (Q3FY25, Q2FY25, and Q1FY25):
| Metric | Q3FY25 | Q2FY25 | Q1FY25 |
|---|---|---|---|
| Revenue from Operations (₹ Cr) | ₹32,359 Cr | ₹34,125 Cr | ₹36,316 Cr |
| Total Income (₹ Cr) | ₹37,923 Cr | ₹39,215 Cr | ₹41,312 Cr |
| EBITDA Margin | 41.3% | 40.8% | 41.5% |
| Profit Before Tax (PBT) (₹ Cr) | ₹11,792 Cr | ₹12,824 Cr | ₹13,678 Cr |
| Profit After Tax (PAT) (₹ Cr) | ₹8,491 Cr | ₹9,145 Cr | ₹9,892 Cr |
| Coal Production (MT) | 202.02 | 166.5 | 175.3 |
| Coal Offtake (MT) | 194.41 | 163.7 | 169.4 |
| E-Auction Coal Price (₹/tonne) | 3,285 | 3,420 | 3,785 |
| Average Realization per Tonne (₹) | 1,514 | 1,526 | 1,548 |
| Employee Benefit Expense (₹ Cr) | ₹11,222 Cr | ₹11,478 Cr | ₹11,690 Cr |
| Contractual Expenses (₹ Cr) | ₹8,503 Cr | ₹7,922 Cr | ₹7,456 Cr |
| Net Sales Realization (NSR) (₹/tonne) | 1,502 | 1,517 | 1,531 |
Recent updates:
Highlights from last concall:
Financial Performance Highlights
Revenue from Operations: ₹32,359 Cr (-2% YoY)
Profit Before Tax (PBT): ₹11,792 Cr (-13% YoY)
Profit After Tax (PAT): ₹8,491 Cr (-17% YoY)
EBITDA Margin: 41.3% (up from 40.6% last year)
Total Income: ₹37,923 Cr (-1% YoY)
Employee Benefit Expense: ₹11,222 Cr (down 3% YoY)
Net Sales Realization (NSR): ₹1,514/tonne (down from ₹1,532/tonne last year)