Coal India Ltd. · NSE:COALINDIA
Coal India — Q2 FY2025-26 Earnings Presentation
45 slides from Coal India's earnings presentation, Oct 29, 2025
Slide 1: Filing cover letter: Presentation on Un-Audited Financial Results Q2
कोल इि डया ल मटे ड Coal India Limited कंपनी स चवालय Company Secretariat Regd. Office:3rd floor, Core-2 3 त ला, कोर-2, े मसेस-04-एमआर, लॉट-ए एफ- Premises no-04-MAR, Plot no-AF-III, Action III,ए शन ए रया-1A, यट ू ाउन, रजरहट, कोलकाता- Area-1A, Newtown, Rajarhat,Kolkata-700156 700156, फोन-0332324555, PH
Slide 2: Physical and Financial Performance for the period ended 30 September, 2025
COAL INDIA LTD Physical and Financial Performance for the period ended 30 September, 2025
Slide 3: Maiden Dividend from JV HURL, Revenue Sharing MDO, Graphite Block
Maiden Dividend from JV Company - HURL: For the 1st time, CIL received ₹404.37 Cr Dividend from HURL, (a JV company of CIL) as 1st Interim Dividend for the FY 2025-26. Revenue Sharing MDO: BCCL's PB Project MDO mine was inaugurated on July 8, 2025 on a revenue-sharing model where BCCL receives 6% of
Slide 4: Solar Power, Copper & Critical Minerals, New Renewable Subsidiary
Solar Power: MoU on 05.05.2025 with UPRVUNL for setting 500 MW Solar Power project in Uttar Pradesh as a part of Green and Renewable Energy Initiatives. Copper & Critical Mineral Sectors: MoU signed on 30.06.2025 with Hindustan Copper Ltd to collaborate in copper and critical minerals sectors. New R
Slide 5: H1 Coal Production, Offtake and OB Removal
Coal Coal Production (MT) Offtake (MT) 4% 3% H1 25-26: 329.14 H1 25-26: 357.08 H1 24-25: 341.34 H1 24-25: 367.15 OB Removal H1 25-26: 855.78 (M.CuM) H1 24-25: 883.32 3% 4
Slide 6: Coal Production (Mill. Te)
Coal Production (Mill. Te) H1 25-26 Departmental Coal Contractual Coal Variance Subsidiary H1 24-25 100% with Last (Actual) Target Actual Year (%) 80% ECL 24.05 20.33 20.79 -2% 17.14 BCCL 21.88 15.75 19.09 -17% 60% 16.09 13.26 24.04 66.70 76.72 CCL 44.34 29.53 35.67 -17% 40% 69.39 NCL 66.98 69.39 66
Slide 7: Coal Offtake (Mill. Te)
Coal Offtake (Mill. Te) H1 25-26 Variance Subsidiary H1 24-25 with Last Mode wise OFFTAKE (357 Mill Te) (Actual) Target Actual Year (%) ECL 28.17 22.48 23.36 -4% 246 BCCL 21.66 17.06 18.60 -8% 250 CCL 51.37 33.48 42.60 -21% 200 105 NCL 68.51 68.01 65.91 3% 150 WCL 31.21 28.67 30.89 -7% 100 6 SECL 10
Slide 8: OB Removal (Mill. CuM)
OB Removal (Mill. CuM) H1 25-26 Departmental OB Contractual OB Subsidiary H1 24-25 Variance 100% (Actual) with Last Target Actual Year (%) 80% 40.47 116.84 ECL 69.60 79.06 86.17 -8% 72.19 138.70 161.30 BCCL 84.21 81.43 87.34 -7% 60% 139.48 75.58 CCL 72.22 52.09 57.05 -9% 40% NCL 234.93 214.99 218.82
Slide 9: Inventory
Inventory Raw Coal (Mil Tonne) Overall Closing Stock as on 30-09-2025 Particulars ECL BCCL CCL NCL WCL SECL MCL NEC CIL Opening Stock as on 8.24 6.71 13.58 4.64 9.98 27.19 36.80 0.02 107.16 01-04-2025 ECL MCL 8% BCCL Closing Stock as on 38% 6.11 5.38 9.03 6.00 6.17 15.66 30.29 0.06 78.70 7% 30-09-20
Slide 10: Physical Performance Q2 2025-26
Physical Performance Q2 2025 - 26 Coal Coal Production (MT) Offtake (MT) 4% 1% Q2 25-26: 145.83 Q2 25-26: 166.03 Q2 24-25: 152.05 Q2 24-25: 167.71 OB Removal Q2 25-26: 348.06 (M.CuM) Q2 24-25: 351.06 1% 9
Slide 11: Coal Production of Q2 2025-26 (Mill. Te)
Coal Production of Q2 2025 - 26 (Mill. Te) Q2 25-26 Departmental Coal Contractual Coal Variance Subsidiary Q2 24-25 100% with Last (Actual) Target Actual Year (%) 80% ECL 10.26 8.79 9.08 -3% 5.27 BCCL 9.67 6.71 8.56 -22% 60% 7.10 5.77 10.46 35.45 29.75 CCL 21.20 12.89 16.49 -22% 40% NCL 29.95 33.50
Slide 12: Coal Offtake of Q2 2025-26 (Mill. Te)
Coal Offtake of Q2 2025 - 26 (Mill. Te) Q2 25-26 Mode wise OFFTAKE (166 Mill Te) Subsidiary Q2 24-25 Variance (Actual) with Last Target Actual Year (%) 150 117 ECL 12.54 10.00 10.34 -3% BCCL 10.13 8.10 8.81 -8% 100 CCL 23.96 14.75 20.13 -27% 47 NCL 32.71 33.37 30.85 8% 50 WCL 12.41 11.02 12.75 -14%
Slide 13: OB Removal of Q2 2025-26 (Mill. CuM)
OB Removal of Q2 2025 - 26 (Mill. CuM) Q2 25-26 Departmental OB Contractual OB Subsidiary Q2 24-25 Variance 100% (Actual) with Last Target Actual Year (%) 80% 17.37 56.16 ECL 27.62 32.53 33.71 -4% 29.47 74.88 BCCL 39.45 32.35 40.77 -21% 60% 29.74 58.00 CCL 32.97 22.75 25.92 -12% 40% 31.97 NCL 101.10
Slide 14: Financial Performance H1 2025-26
FINANCIAL PERFORMANCE H1 2025 - 26 13
Slide 15: Major Financial Highlights
Major Financial Highlights Revenue from Operations Net Sales Profit Before Tax Profit After Tax (₹ Crore) (₹ Crore) (₹ Crore) (₹ Crore) 4% 68,686 3% 60,441 20% 25% 22,301 17,218 17,824 12,997 66,029 58,790 H1 25-26 H1 24-25 H1 25-26 H1 24-25 H1 25-26 H1 24-25 H1 25-26 H1 24-25 EBITDA (₹ Crore) EBITD
Slide 16: Consolidated Financial Results H1 25-26
Consolidated Financial Results H1 25-26 ₹ Crore Particulars H1 25-26 H1 24-25 Inc/Dec Inc/Dec% Net Sales 58,790 60,441 -1,652 -3% Other Operating Revenue 7,239 8,244 -1,005 -12% Other Income 3,756 3,390 367 11% Total Income 69,785 72,075 -2,290 -3% Expenditure 52,315 49,997 2,318 5% PBT (without JV)
Slide 17: Break up of Expenditure H1 25-26
Break up of Expenditure H1 25-26 ₹ Crore Particulars H1 25-26 H1 24-25 Inc/Dec Inc/Dec% Cost of Materials Consumed 4,851 4,891 -40 -1% Changes in inventories 1,480 1,394 86 6% Employee Benefits Expense 21,679 22,191 -513 -2% Finance Costs 552 417 135 32% Depreciation, Amortization and Impairment Exp
Slide 18: Subsidiary wise Profit Before Tax H1 25-26
Subsidiary wise Profit Before Tax H1 25-26 ₹ Crore Subsidiary H1 25-26 H1 24-25 Inc/Dec Inc/Dec% ECL -436 43 -479 - BCCL 199 1,124 -925 -82% CCL 1,174 3,159 -1,985 -63% NCL 7,222 6,217 1,005 16% WCL 767 1,458 -691 -47% SECL 1,868 2,116 -248 -12% MCL 6,126 7,137 -1,011 -14% CMPDIL 339 333 6 2% CIL St
Slide 19: Subsidiary wise Profit After Tax H1 25-26
Subsidiary wise Profit After Tax H1 25-26 ₹ Crore Subsidiary H1 25-26 H1 24-25 Inc/Dec Inc/Dec% ECL -307 29 -336 - BCCL 124 749 -625 -83% CCL 844 2,339 -1,495 -64% NCL 5,331 4,847 484 10% WCL 573 1,090 -517 -47% SECL 1,126 1,509 -383 -25% MCL 4,574 5,673 -1,099 -19% CMPDIL 253 249 4 2% CIL St (Excl.
Slide 20: Key Financial Ratios
Key Financial Ratios Ratios 30.09.25 31.03.25 30.09.24 Remarks wrt 31.03.25 Debt Equity Ratio 0.13 0.09 0.07 Increase Working Capital Loan Decrease in current Liabilities (statutory Current Ratio 1.77 1.74 1.81 dues & customer advance reduced) Decrease in current Liabilities (statutory Quick Ratio 1
Slide 21: FSA, E-Auction and Washed Coal Realisation H1
H1 25-26 H1 24-25 Inc / Dec Inc / Dec % Net Sales (₹ Crore) 58,790 60,441 -1,652 3% H1 25-26 H1 24-25 Inc/Dec Impact (₹ Cr) Remarks FSA Qty.(In Mill. Te) 313.20 320.64 -7.44 -1108 Reduction in FSA Qty Price (In Rs./Te.) 1,503.96 1,489.08 14.89 466 Increase in Per Tonne realisation Qty.(In Mill. Te)
Slide 22: Other operating income
Other operating income ₹ Crores H1 25-26 H1 24-25 Inc / Dec Inc / Dec % 7,239 8,244 -1,005 -12% Reason of Variance Reduction in Stripping Activity Provision Reversal : ₹ 911 Cr Reduction in Inflated Mileage Income (MCL) : ₹ 98 Cr 21
Slide 23: Other income
Other income ₹ Crore H1 25-26 H1 24-25 Inc / Dec Inc / Dec % 3,756 3,390 367 11% Reason of Variance Higher Interest received on refund from I.T Dept : ₹320 Cr Interest income receipt in BCCL on account of refund of higher tariff from DVC: ₹ 199 Cr Decrease in Income from Mutual Fund : ₹66 Cr
Slide 24: Cost of Material Consumed
Cost of Material Consumed ₹ Crore H1 25-26 H1 24-25 Inc / Dec Inc / Dec % 4,851 4,891 -40 -1% Reason of Variance Reduction in Explosive Expenses (H1 25-26 ₹ 1,804 Cr & H1 24-25 ₹1,841 Cr): ₹ 37 Crore (Reduction in Total Composite Production by 3%) Reduction in Oil & Lubricant Expenses (H1 25-26
Slide 25: Employee Benefit expenses
Employee Benefit expenses ₹ Crore H1 25-26 H1 24-25 Inc / Dec Inc / Dec % 21,679 22,191 -512 -2% Reason of Variance Reduction in Salary & Wages (5%) : ₹ 890 Cr (Reduction in PRP provision ₹ 280 Cr) Reduction in Manpower : 4% (30.09.25 : 2,16,156 & 30.09.24 : 2,24,712) Increase Additional CMPS Co
Slide 26: Finance Cost
Finance Cost ₹ Crore H1 25-26 H1 24-25 Inc / Dec Inc / Dec % 552 417 135 32% Reason of Variance Increase in Interest on loan of BCCL, ECL and CIL: ₹ 58 Cr Increase in unwinding of discount (MCP revision): ₹ 77 Cr 25
Slide 27: Depreciation & Amortisation
Depreciation & Amortisation ₹ Crore H1 25-26 H1 24-25 Inc / Dec Inc / Dec % 4,972 3,850 1,122 29% Reason of Variance Provision for Impairment of Exploration & Evaluation Asset as 21 coal blocks declared under safety zone in SECL: ₹ 553 Cr Increase in Amortisation on Site Restoration : ₹ 182 Cr
Slide 28: Stripping Activity Adjustment
Stripping Activity Adjustment ₹ Crore H1 25-26 H1 24-25 Inc / Dec Inc / Dec % -2,266 -2,711 445 -16% Reason of Variance Reduction in improved access to Coal as per Current Ratio 27
Slide 29: Contractual expenses
Contractual expenses ₹ Crore H1 25-26 H1 24-25 Inc / Dec Inc / Dec % 14,020 13,809 211 2% Reason of Variance Increase in Outsourcing Exp & Other contractual work: ₹ 381 Cr Reduction in Transportation & Wagon loading Exp : ₹ 170 Cr 28
Slide 30: Other expenses
Other expenses ₹ Crore H1 25-26 H1 24-25 Inc / Dec Inc / Dec % 7,028 6,156 872 14% Reason of Variance 1. Increase in Environmental and Tree Plantation Exp: ₹ 202 Cr 2. Increase in CSR Expenses: ₹ 144 Cr 3. Increase in Security Exp CISF (BCCL ₹36 Cr, CCL ₹45 Cr): ₹ 125 Cr 4. Increase in other Social
Slide 31: Financial Performance Q2 2025-26
FINANCIAL PERFORMANCE Q2 2025 - 26 30
Slide 32: Major Financial Highlights
Major Financial Highlights Revenue from Operations Net Sales Profit Before Tax (₹ Crore) (₹ Crore) (₹ Crore) 3% 1% 25% 8,153 31,182 27,271 30,187 26,909 6,115 Q2 25-26 Q2 24-25 Q2 25-26 Q2 24-25 Q2 25-26 Q2 24-25 Profit After Tax EBITDA EBITDA on Net Sales (₹ Crore) (₹ Crore) 32% 15% 4% 6,275 9,119
Slide 33: Consolidated Financial Results Q2 25-26
Consolidated Financial Results Q2 25-26 ₹ Crore Particulars Q2 25-26 Q2 24-25 Inc/Dec Inc/Dec% Net Sales 26,909 27,271 -362 -1% Other Operating Revenue 3,277 3,911 -633 -16% Other Income 2,140 1,505 635 42% Total Income 32,327 32,687 -360 -1% Expenditure 26,422 24,671 1,751 7% PBT (without JV) 5,905
Slide 34: Break up of Expenditure Q2 25-26
Break up of Expenditure Q2 25-26 ₹ Crore Particulars Q2 25-26 Q2 24-25 Inc/Dec Inc/Dec% Cost of Materials Consumed 2,289 2,295 -6 - Changes in inventories 1,331 965 366 38% Employee Benefits Expense 10,730 11,108 -378 -3% Finance Costs 287 208 79 38% Depreciation, Amortization 2,664 1,898 766 40% an
Slide 35: Subsidiary wise Profit Before Tax Q2 25-26
Subsidiary wise Profit Before Tax Q2 25-26 ₹ Crore Subsidiary Q2 25-26 Q2 24-25 Inc/Dec Inc/Dec% ECL -671 -304 -367 - BCCL -48 450 -498 - CCL 268 1,026 -758 -74% NCL 3,624 2,853 771 27% WCL -365 163 -527 - SECL -100 183 -283 - MCL 2,905 3,079 -173 -6% CMPDIL 243 199 44 22% CIL Standalone 106 389 -28
Slide 36: Subsidiary wise Profit After Tax Q2 25-26
Subsidiary wise Profit After Tax Q2 25-26 ₹ Crore Subsidiary Q2 25-26 Q2 24-25 Inc/Dec Inc/Dec% ECL -469 -219 -250 - BCCL -53 240 -293 - CCL 182 773 -590 -76% NCL 2618 2138 480 22% WCL -274 120 -394 - SECL -278 175 -454 - MCL 2125 2333 -208 -9% CMPDIL 177 153 25 16% CIL Standalone 81 444 -363 -82% C
Slide 37: FSA, E-Auction and Washed Coal Realisation Q2
Q2 25-26 Q2 24-25 Inc / Dec Inc / Dec % Net Sales (₹ Crore) 26,909 27,271 -362 1% Q2 25-26 Q2 24-25 Inc/Dec Impact (₹ Cr) Remarks FSA Qty.(In Mill. Te) 147.46 148.21 -0.75 -109 Reduction in FSA Qty Price (In Rs./Te.) 1,478.39 1,466.33 12.06 178 Increase in Per Tonne realisation Qty.(In Mill. Te) 15.
Slide 38: Cost of Material Consumed
Cost of Material Consumed ₹ Crore Q2 25-26 Q2 24-25 Inc / Dec Inc / Dec % 2,289 2,295 -6 - Reason of Variance Reduction in Explosive Expenses : ₹ 12 Crore (Reduction in Total Composite Production by 2%) Reduction in Oil & Lubricant Expenses : ₹ 55 Crore (Reduction in departmental composite produ
Slide 39: Employee Benefit expenses
Employee Benefit expenses ₹ Crore Q2 25-26 Q2 24-25 Inc / Dec Inc / Dec % 10,730 11,108 -378 -3% Reason of Variance Reduction in Manpower : 4% (30.09.25 : 2,16,156 & 30.09.24 : 2,24,712) 38
Slide 40: Finance Cost
Finance Cost ₹ Crore Q2 25-26 Q2 24-25 Inc / Dec Inc / Dec % 287 208 79 38% Reason of Variance Increase in Interest on loan of BCCL, ECL & CIL: ₹ 45 Cr Increase in unwinding of discount (MCP revision): ₹ 34 Cr 39
Slide 41: Depreciation & Amortisation
Depreciation & Amortisation ₹ Crore Q2 25-26 Q2 24-25 Inc / Dec Inc / Dec % 2,664 1,898 766 40% Reason of Variance Provision for Impairment of Exploration & Evaluation Asset as 21 coal blocks declared under safety zone in SECL: ₹ 386 Cr Increase in Amortisation on Site Restoration : ₹ 100 Cr B
Slide 42: Contractual expenses
Contractual expenses ₹ Crore Q2 25-26 Q2 24-25 Inc / Dec Inc / Dec % 6,205 6,051 154 3% Reason of Variance Increase in Outsourcing Exp & Other contractual work : ₹ 239 Cr Reduction in Transportation & Wagon loading Exp : ₹ 85 Cr 41
Slide 43: Other expenses
Other expenses ₹ Crore Q2 25-26 Q2 24-25 Inc / Dec Inc / Dec % 3,786 3,100 686 22% Reason of Variance 1. Increase in Other Social & Welfare Expenses (Uniform) : ₹ 263 Cr 2. Increase in Environmental & Tree Plantation : ₹ 177 Cr 3. Increase in CSR Expenses : ₹ 76 Cr 4. Increase in Training & Travelli
Slide 44: Gross Trade Receivables – Subsidiary wise
Gross Trade Receivables – Subsidiary wise ₹ Crore As on As on As on Inc / (Dec) Subsidiary 30.09.2025 30.06.2025 31.03.2025 Wrt 31.03.25 ECL 1,866 2,005 1,351 515 BCCL 2,009 2,193 1,874 135 CCL 1,768 2,033 1,778 (10) NCL 2,630 2,500 1,911 719 WCL 3,526 4,092 3,375 151 SECL 1,451 1,655 973 478 MCL 3,
Slide 45: Thank You
‘DECADES OF UNEARTHING ENERGY Thank You 44