News ArticleCoal India Limited Reports ₹44,179 Crore Revenue in Q2 and Advances ₹25,000 Crore Ammonium Nitrate Project
Company commissions 200 MW solar capacity, files IPO draft for Mahanadi Coalfields and progresses coal production in H1 FY 2026-27
Coal India Limited announced its unaudited financial results for Q2 and H1 FY 2026-27, reporting revenues of ₹44,179 crore for Q2 and ₹90,434 crore for H1, with notable investments, operational milestones including the commissioning of solar power projects, and progress in coal production and sales during the period.
Coal India Limited
Investor Presentation
Coal India Limited released its unaudited financial results for the second quarter and half year ended 30 September 2026, reporting ₹44,179 crore revenue during Q2 and achieving several operational milestones including commissioning of solar power plants and significant investments in coal and critical minerals.
In Q2 FY 2026-27, Coal India's revenue from operations rose to ₹44,179 crore from ₹36,553 crore in Q2 FY 2025-26. The company recorded a profit before tax of ₹8,728 crore and a profit after tax of ₹6,547 crore in Q2, reflecting solid financial performance.
For the half year, revenue from operations reached ₹90,434 crore, up from ₹79,472 crore the previous year, with profit after tax rising to ₹15,397 crore.
Operationally, Coal India commissioned 200 MW of solar power capacity as part of a 300 MW project in Khavda, Gujarat, and received the commissioning certificate for a 100 MW solar plant at Bhadramali, Gujarat, marking the company's first revenue from energy sales at ₹15.29 crore during the half year.
Significant investments include a ₹25,000 crore venture by BCGCL (a JV of Coal India and BHEL) for an ammonium nitrate production plant with an annual capacity of 6.6 lakh tonnes, and the laying of the foundation stone for India’s first commercial coal gasification project.
Coal India has also incorporated a wholly owned overseas subsidiary, CIL Global Pte. Ltd., in Singapore to explore critical minerals and overseas investments. Furthermore, the company was identified as the preferred bidder for the Gadadharpur Iron Ore Block in Odisha with estimated resources of 288 million tonnes.
Highlights
- Q2 FY 2026-27 revenue from operations at ₹44,179 crore, a 21% increase over Q2 FY 2025-26.
- Half year revenue from operations reached ₹90,434 crore, a 20% increase from prior year.
- Commissioned 200 MW solar power capacity at Khavda, Gujarat; received 100 MW plant certificate at Bhadramali, Gujarat.
- ₹25,000 crore investment initiated for ammonium nitrate project by BCGCL, a Coal India-BHEL JV.
- Incorporated Singapore-based subsidiary CIL Global Pte. Ltd. to pursue overseas critical mineral assets.
- Preferred bidder for 288 million tonnes Gadadharpur Iron Ore Block in Odisha.
Key Data Snapshot
Key details
- Coal India commissioned a 200 MW solar power project in Khavda, Gujarat, out of a planned 300 MW capacity on 8 July 2026.
- Received commissioning certificate for 100 MW Solar Power Plant at Bhadramali, Gujarat, effective from 31 March 2026.
- An overseas wholly owned subsidiary, CIL Global Pte. Ltd., was incorporated on 24 August 2026 for overseas critical mineral exploration and investments.
- Identified as preferred bidder for Gadadharpur Iron Ore Block in Odisha with estimated resources of 288 MT.
- ₹25,000 crore investment by BCGCL, a joint venture between Coal India and BHEL, announced for an ammonium nitrate plant with an annual capacity of 6.6 lakh tonnes.
Operational performance
- Coal production for H1 FY 2026-27 was 321 million tonnes, slightly lower by 2% compared to H1 FY 2025-26.
- Coal offtake increased by 8% to 384.2 million tonnes for the half year.
- Enhanced coal washing capacity with the commissioning of the Bhojudih Coal Washery at BCCL with a 2.0 million tonnes annual capacity.
- Production started from the ASGKCC Mine (Katras Area) under a revenue-sharing model with BCCL receiving 9% revenue.
- 200 MW solar capacity commissioned at Khavda and 100 MW at Bhadramali contributed to coal India's first sale of energy revenue of ₹15.29 crore in H1 FY 2026-27.
Financial performance
- Q2 FY 2026-27 revenue from operations increased by 21% to ₹44,179 crore compared to Q2 FY 2025-26.
- Profit after tax for Q2 rose to ₹6,547 crore, up 57% year over year.
- For H1 FY 2026-27, revenue from operations rose 20% to ₹90,434 crore and profit after tax increased to ₹15,397 crore.
- Expenditure for Q2 was ₹38,398 crore, an increase of 17% year over year.
- EBITDA margin on revenue from operations was 26% in Q2 FY 2026-27 compared to 24% in prior year quarter.
Background and context
- Foundation stone for India’s first commercial coal gasification project was laid on 20 June 2026 by the President and Prime Minister.
- Mahanadi Coalfields Limited (MCL) commissioned a 10 MTPA Lakhanpur Silo on 30 August 2026 and filed a Draft Red Herring Prospectus for IPO on 1 September 2026.
Highlights
- Q2 FY 2026-27 revenue from operations at ₹44,179 crore, a 21% increase over Q2 FY 2025-26.
- Half year revenue from operations reached ₹90,434 crore, a 20% increase from prior year.
- Commissioned 200 MW solar power capacity at Khavda, Gujarat; received 100 MW plant certificate at Bhadramali, Gujarat.
- ₹25,000 crore investment initiated for ammonium nitrate project by BCGCL, a Coal India-BHEL JV.
- Incorporated Singapore-based subsidiary CIL Global Pte. Ltd. to pursue overseas critical mineral assets.
- Preferred bidder for 288 million tonnes Gadadharpur Iron Ore Block in Odisha.
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