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Coal India Q2FY27 results

• In Q2FY27, consolidated PAT rose 57.1% y-o-y to Rs. 6,547 crore but was down 26.0% q-o-q. Revenue from operations rose ~21% to Rs. 44,179 crore, driven by higher FSA and e-auction volumes and realisations. Other income rose 24% to Rs. 2,654 crore. PBT rose 45.7% to Rs. 8,728 crore, and EBITDA rose 28% to Rs. 11,447 crore, despite a 17% rise in expenditure to Rs. 38,398 crore.
• Overall, CIL coal production rose 4% year on year to 151.37 MT in Q2FY27, while offtake rose 12% year on year to 186.34 MT. Overall average realisation improved 7% y-o-y to Rs. 2,346.21/tonne. This was aided by a 4% rise in e-auction realisation and a 51% jump in e-auction volumes. FSA volumes rose 12% to 159.71 MT, and FSA realisation rose 4%.\EBITDA margin on revenue from operations improved to 26% in Q2FY27, up from 24% a year earlier. It was, however, well below the 31% seen in Q1FY27, due to a sharp rise in total expenses. Contractual expenses rose 18% and other expenses rose 18%, led by Rs. 1,535 crore higher rates and taxes. The company also made a Rs. 499 crore NCWA wage provision
• Coal inventory fell to 66.58 MT as on 30-09-2026, from 101.35 MT as on 30-06-2026, a 34.77 MT drop.
• View: CIL Q2FY27 results show strong year-on-year growth on a weak base, with PAT up 57% on 21% top-line growth led by volumes. Sequentially, though, PAT fell 26%, and EBITDA margin contracted ~510 bps as cost pressures intensified.