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Coal India Ltd

Q4 FY25Consumable Fuels

Coal India Q4 FY25 earnings call: Revenue & Margins

Q4 FY25 earnings call: what management guided on revenue, margins and order book.

Price₹405

Market cap₹2.5L Cr

P/E8.0

Updated23 Aug 2026

Read4 min read

What the Q4 FY25 call signalled

1 of 3 strong

RevenueModerate growth

MarginMargins steady

CapexCapex planned

The short version

FY26 volume guidance is around 875 million tonnes, with potential to reach 900+ million tonnes in FY27. The company expects a reasonably good growth in volumes and earnings, citing "mid-teens kind of" or "at least double-digit" growth in e-auction volumes (Page 18).

From Coal India Ltd's Q4 FY25 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

Moderate growth

FY26 volume guidance is around 875 million tonnes, with potential to reach 900+ million tonnes in FY27.
Expected mid-teens/full double-digit growth in e-auction volumes (at least 10%, up to 20% target).
Demand growth driven by 2.5-3% growth in power sector coal consumption and increased non-power sector linkages.
Captive and commercial coal supplies expected to reach around 320 million tonnes by 2029-30.
Incremental production from new mines and long-term contracts for power/non-power sectors expected to support sustained demand.
Coal India aims to maintain 10-20% e-auction volumes to meet seasonal/cyclical market demand.

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Profitability & Margins

The company expects a reasonably good growth in volumes and earnings, citing "mid-teens kind of" or "at least double-digit" growth in e-auction volumes (Page 18).
FY26 production guidance is 875 million tonnes, with projected growth supported by long-term contracts, rising demand especially in non-power sectors, and import substitution (Pages 13, 14, 18).
Employee cost softening is expected until wage revision in June 2026, providing margin support in the near term (Page 13).
Coal prices and e-auction premiums are expected to stabilize between 30-40%, with e-auction volumes targeted between 10-20% of production, supporting revenue growth (Pages 12, 18).

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Capital Expenditure Plans

Capex planned

Annual capex guidance is around Rs. 20,000 crore for the next 3-5 years (Page 16).
Last year capex was Rs. 19,500 crore (Page 16).
Of this, cash capex was about Rs. 14,000 crore; including advances and other payments it totals Rs. 19,500 crore (Page 16).
Capex includes land, plant, machinery, and diversification projects such as coal gasification and critical mineral projects (Pages 16, 17).
Coal gasification project at SonepurBazari is in the bidding stage, with feasibility and project confirmation pending (Page 16).
Capex planned for coal gasification around Rs. 37,000-38,000 crore; thermal power generation Phase 1 about Rs. 15,000 crore (Page 15).

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Fundraising & Capital Structure

Regarding fundraising, Mukesh Agarwal mentioned that the Board will take decisions on cost revisions, including wage revision, after finalization.
There was no direct mention of raising new funds through debt or equity in the transcript.
Mukesh Agarwal highlighted that cash balances are intended to be used for capex of around Rs. 80,000 crore planned over the next 4-5 years, implying reliance on internal accruals and equity for funding.
No explicit plans for fresh equity or debt issuance were disclosed in the discussion.

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Order Book & Pipeline

The investor meet transcript does not provide specific details on the current or expected order book or pending orders for Coal India Limited.
Discussion mainly revolves around production, e-auction volumes, coal demand outlook, pricing trends, and supply challenges.
Focus is on coal production guidance for FY26 (875 million tonnes) and FY27 (~900 million tonnes).

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Coal India Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024Q3 FY25

Mar 2025Q4 FY25

Jun 2025Q1 FY26

Sep 2025Q2 FY26

Dec 2025Q3 FY26

Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹46.5K Cr, net profit ₹10.9K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Coal India Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Coal India Ltd Q4 FY25 results?

FY26 volume guidance is around 875 million tonnes, with potential to reach 900+ million tonnes in FY27. The company expects a reasonably good growth in volumes and earnings, citing "mid-teens kind of" or "at least double-digit" growth in e-auction volumes (Page 18).

What is Coal India Ltd share price analysis?

Coal India Ltd currently shows a below-average growth signal. The stock trades at a P/E of 8.0 with a market cap of ₹250,885 Cr. Investors should review the full earnings analysis for detailed insights.

Is Coal India Ltd planning capital expenditure?

Annual capex guidance is around Rs.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.