Coal India (COALINDIA) Q2 25/26 earnings summary

Executive summary

• H1 2025-26 net sales declined 3% to ₹58,790 Cr and net profit dropped 25% to ₹12,997 Cr year-over-year.

• Q2 FY26 consolidated revenue was ₹30,186.70 Cr, with net profit at ₹6,289.10 Cr, up from ₹4,221.43 Cr in Q2 FY25.

• The Board declared a second interim dividend of ₹10.25 per share for FY26.

• Coal production and offtake both decreased by 4% and 3% respectively compared to H1 2024-25.

• Major events included a maiden ₹404 Cr dividend from HURL JV, new mining projects, and expansion into renewables.

Financial highlights

• Revenue from operations fell 4% to ₹68,686 Cr; EBITDA dropped 15% to ₹21,013 Cr.

• Q2 FY26 consolidated profit before tax was ₹6,114.58 Cr; total comprehensive income was ₹6,274.80 Cr.

• Q2 2025-26 net sales were ₹26,909 Cr, down 1% year-over-year; Q2 net profit fell 32% to ₹4,263 Cr.

• Basic and diluted EPS for Q2 FY26 stood at ₹7.07, compared to ₹10.21 in Q2 FY25.

• Cash flow from operating activities for H1 FY26 was ₹8,844.53 Cr (consolidated) and negative ₹589.40 Cr (standalone).

Outlook and guidance

• Expansion into solar and critical minerals through new MoUs and subsidiaries.

• Focus on green and renewable energy initiatives, including a 500 MW solar project in Uttar Pradesh.

• The GST rate increase on coal from 5% to 18% is expected to allow utilization of accumulated input tax credit, improving future cash flows.