Coal India, BCCL, CMPDI earnings review: How the group companies stacked up in Q4 FY26

However, several companies across sectors have issued cautious commentary and outlook due to uncertainty stemming from the ongoing US-Iran conflict and concerns around global trade and energy markets.

Coal India

State-owned Coal India reported an 11.1% rise in consolidated net profit to ₹10,839.18 crore in the March quarter (Q4 FY26), driven by higher revenue.

Coal India Ltd (CIL) logged a consolidated net profit of ₹9,751.64 crore in the year-ago period.

In a filing to the BSE, the Maharatna firm said its revenue from operations rose to ₹46,490.03 crore from ₹43,961.56 crore logged in the corresponding quarter of the previous fiscal year.

The consolidated expenses of the company during the fourth quarter of the previous fiscal year rose to ₹37,107.07 crore compared to ₹34,999 crore in the year-ago period, CIL said in a filing to the BSE.

However, the company's net profit for the year ended March 31, 2026, dropped to ₹31,094.29 crore from ₹35,505.79 crore for the year ended March 31, 2025.

The revenue for 2025-26 marginally declined to ₹1,68,400.29 crore over ₹1,69,177.37 crore for the year ended March 31, 2025.

The board of directors declared a final dividend of ₹5.25 per equity share for 2025-26 and added that the payment of the final dividend for 2025-26 will be made subject to the approval of shareholders in the ensuing AGM.

The company produced 768.19 million tonnes (MT) of coal in 2025-26 over 781.06 in 2024-25. The coal offtake in FY26 was 744.88 MT over 762.98 MT in 2024-25.

The opening coal stock of CIL as of April 1, 2025, was 107.16 MT, while the closing stock as of March 31, 2026, was 129.96 MT.

About Coal India

Coal India is a premier 'Maharatna' Central Public Sector Enterprise under the Ministry of Coal, Government of India. Headquartered in Kolkata, West Bengal, it is the single largest coal-producing company in the world.

Across eight Indian states, CIL operates in 85 mining areas, managing a total of 310 working mines, consisting of 129 underground, 168 opencast, and 13 mixed mines.

The PSU contributes to 80% of total domestic coal production and 75% of total coal-based power generation. CIL contributes to 55% of total power generation and meets 40% of the primary commercial energy requirements of the country.

CIL aims to increase coal production to 1 billion tonnes by 2028-29 to reduce dependence on imports and meet domestic demand.

Bharat Coking Coal Ltd (BCCL)

Coal India arm BCCL has reported a 58.9% decline in net profit at ₹27.28 crore for the quarter ended March 31, 2026, on the back of lower revenue.

The company had posted a net profit of ₹66.50 in the year-ago period, BCCL said in a filing to BSE on Wednesday.

BCCL is one of the largest coking coal producers in the country.

The company's revenue from operations during Q4 dropped to ₹3,282.95 crore over ₹3,865.79 crore logged in the year-ago period, the filing said.

The company's net profit for the year-ended March 31, 2026, dropped drastically to ₹128.28 crore over ₹1,240.19 crore for the year ended March 31, 2025.

The revenue of the Miniratna Public Sector Enterprises for the year ended March 31, 2026, declined to ₹13,644.78 crore, from ₹15,917.21 crore in the year ended March 31, 2025.

BCCL produced 35.52 million tonnes of coal in 2025-26 against 40.50 million tonnes of coal produced in 2024-25.

The Miniratna public sector enterprises made a strong debut on the stock exchanges on January 19, 2026, with a premium of more than 95% on both the stock exchanges, against the issue price of ₹23.

The IPO also made history with a subscription of 146.8 times.

Established with a mandate to mine and supply high-grade coking coal, BCCL plays a pivotal role in fuelling the nation's steel sector, which relies heavily on coal for production and manufacturing processes.

The company manages an extensive network of open-cast and underground mines across Jharkhand and West Bengal, with a particular focus on the Jharia Coalfield.

Central Mine Planning & Design Institute (CMPDI)

The NSE filings showed that CMPDI’s net profit fell by 32% to ₹187 crore in the fourth quarter, compared year-on-year (YoY) with ₹277 crore in the same period a year ago, according to the financial statements.

Although the PSU company witnessed a 11% YoY rise in its revenue from core operations to ₹827 crore in the March quarter of FY2025-26, compared to ₹740 crore in the same period a year ago, the profits reduced for Q4 on rising expenses.

CMPDI’s total expenses for the quarter rose nearly 42% to ₹589 crore, compared to ₹415 crore in the same quarter of the previous financial year. Employee benefits expenses, along with the contribution to other expenses, remained the largest driver in the rising cost to the company.

On the earnings per share (EPS) front, the company witnessed a reduction to ₹2.63 per share in the March quarter, compared to ₹3.88 per share in the same period a year ago.

CMPDI’s board of directors also considered and recommended a final dividend issue of ₹1.06 per share with a face value of ₹2 apiece, subject to the approval of the shareholders in the company’s upcoming meeting.

“The board of directors in its meeting held on date had recommended payment of Final Dividend for the financial year 2025-26 @ ₹1.06 per share of the face value of ₹2 as recommended by the audit committee of CMPDIL in its meeting held on date, subject to the approval of the members,” the company informed the stock exchanges.

This means every eligible shareholder will receive a final dividend payment of ₹1.06 per share for every share they own in the company, up to 24 hours ahead of the record date fixed by the firm.

Although CMPDI has not released the record date or dividend payment schedule, further details will be provided to investors in due time.

Shares of Central Mine Planning & Design Institute Ltd, an arm of state-owned Coal India, were issued on March 30, 2026, at a discount of nearly 7% against the issue price of ₹172.

The stock started trading at ₹162.80, down 5.34% from the issue price on the BSE.

On the NSE, the stock was listed at ₹160, a discount of 6.97%.

The initial public offering of Central Mine Planning & Design Institute Ltd got fully subscribed on the closing day of bidding.

The ₹1,842 crore IPO had a price band of ₹163-₹172 per share.

The issue was entirely an offer for sale (OFS) of 10.71 crore shares, worth ₹1,842.12 crore at the upper end, by Coal India, with no fresh issue component.

CMPDIL was incorporated in 1975 as a wholly-owned subsidiary of Coal India.

It offers consultancy and support services for the entire spectrum of coal and mineral exploration, as well as mine planning and design services.

Its services also include infrastructure engineering, environmental management, geomatics, specialised technology services, and management systems, primarily for the coal industry and other minerals.

Why are CIL and its subsidiaries' earnings important?

Coal India Limited and its subsidiaries play a critical role in India’s energy ecosystem as they together account for the bulk of the country’s domestic coal production, which fuels nearly 70% of India’s electricity generation.

Its arms, including Bharat Coking Coal Limited (BCCL) and Central Mine Planning & Design Institute (CMPDI), support both production and technical operations across the mining value chain.

While BCCL is crucial for supplying coking coal to the steel sector, CMPDI provides exploration, mine planning, and consultancy services.

Together, these entities are central to ensuring India’s energy security, supporting industrial activity, reducing dependence on imported coal, and meeting rising power demand.

Stocks performance

Shares of Coal India have gained 3.57% over the past 30 days, and over 23% in the past six months. So far in 2026 (year-to-date), the stock has rallied nearly 15% (as of Friday, May 22, early trade level).

BCCL shares have advanced nearly 2% in the past 30 days, while CMPDI shares have gained 32.5% in the past 30 days.