Coal India reported a steady rise in March quarter earnings, with profit supported by higher realisations and controlled costs, while margins remained largely stable.

The Maharatna public sector undertaking reported a consolidated net profit of ₹10,839 crore for Q4 FY26, up 11.1% year-on-year from ₹9,752 crore.

Revenue from operations rose 5.8% to ₹46,490 crore, compared with ₹43,962 crore in the year-ago period, reflecting stable demand from the power sector.

EBITDA for the quarter increased 6.2% to ₹12,673 crore, broadly in line with revenue growth.

Margins remain stable

Operating margins stood at 27.26%, largely flat compared to 27.14% a year ago, indicating stable cost dynamics despite inflationary pressures.

The company benefited from disciplined cost management, even as employee expenses and contractual costs remained elevated during the quarter.

Dividend declared

Coal India continued its strong shareholder return track record, with the board recommending a final dividend of ₹5.25 per equity share for FY26, subject to shareholder approval at the upcoming annual general meeting.

This comes in addition to three interim dividends declared during the year—₹5.50, ₹10.25 and ₹5.50 per share—taking the total dividend payout for FY26 to ₹26.50 per share.

Cost and operational developments

During the quarter, the company saw higher employee-related expenses, partly due to pay scale revisions for executives, with a provision of ₹1,457.9 crore recognised for the period from August 2023 to December 2025.

The revised salary structure has been implemented from January 2026, with payments being disbursed accordingly.

Coal India also made progress on its capital market initiatives, with subsidiaries BCCL and CMPDI getting listed during FY26, while the parent company diluted stakes but retained majority control.

Shares of Coal India ended 0.33% lower at ₹454.50 apiece on the NSE on Monday. The PSU’s stock has gained over 14% in the past year, outperforming the benchmark Nifty 50 index, which has declined nearly 1% during the same period.