Coal India Q4FY2026 results

• Q4 FY26 was the strongest quarter of FY26, with PAT up 12% YoY and revenue up 6% YoY, driven by higher e-auction volumes and better realisation. In Q4FY26, Coal India reported a consistent performance. With coal sales of 199 million tonnes (down 1% YoY), total operating income for the quarter was Rs 46,490 crore (up 6% YoY). The quarter's reported EBITDA was Rs 12,673 crore, with corresponding EBITDA margins of 27.3% (up ~57 bps YoY). Employee costs declined 2% YoY in Q4 due to 4% manpower reduction (no repeat of one-time executive pay provision which was booked in earlier quarters). Compared to Rs 593/tonne in Q4FY25, EBITDA/tonne for Q3FY26 was Rs 636/tonne. PAT increased by 15% year over year to Rs 10,908 crore. With a cumulative dividend of Rs 26.5 per share for FY26, the business announced a final dividend of Rs 5.25 per share.
• View: CIL Q4FY26 have reported topline performance remained supportive led by rising e-Auction volumes and increased other operating income. We will review our estimates and will come out with a detailed note. Currently we have a buy rating on the stock. 

Results (consolidated)                                                                                            Rs crore