, the world’s largest coal miner, said its board of directors will meet on April 27, 2026, to consider and approve the audited financial results for the March quarter (Q4 FY26) and for the financial year ending March 31, 2026.
The board will also decide on the payment of a final dividend for the financial year 2026, the company said in a regulatory filing. The company further stated that the trading window for designated persons has remained closed since April 1 and will reopen on April 30, 2026, as per Thursday’s regulatory filing.
Analysts expect a weaker performance from Coal India amid weak production and dispatches, impacted by rising competition and softer demand from thermal power plants.
Coal India results preview
According to domestic brokerage firm Equirus Securities, the company’s coal production increased marginally by 0.5% year-on-year to 238.9 mt in Q4FY26, while dispatches declined by 1.1% year-on-year to 199.1 mt, primarily due to market share loss to merchant miners.
With inventory levels at power plants remaining elevated, the brokerage expects e-auction prices to stay subdued on a year-on-year basis, which it believes to exert pressure on EBITDA.
Accordingly, it expects adjusted EBITDA to decline by 8.7% year-on-year to ₹102.5 billion, largely driven by lower e-auction realisations. The brokerage has not factored in any provisions for wage revision in 4QFY26E.
Systematix Institutional Equities said Coal India continues to lag its mining peers, with consistently declining offtake and a bleak growth outlook, and is likely to report a 4% year-on-year decline in EBITDA in Q4 FY26. It expects the company’s revenue and net profit to drop 9% and 1%, respectively.
Another brokerage firm, Motilal Oswal, said the company’s production in FY26 declined 1.6% year-on-year to 768 mt, while offtake was down 3% year-on-year at 735 mt. It noted that the muted volume was primarily due to increased competition from captive and merchant coal producers, subdued demand from thermal power plants, and high inventory levels.
It expects Coal India to post a modest volume CAGR of around 2% over FY26–28E. However, the brokerage added that India’s coal demand outlook remains strong as the country transitions towards a USD 5 trillion economy, with coal consumption estimated to rise to around 1.3–1.5 billion tonnes by 2030, despite increasing renewable energy penetration.
Coal India share price history
The company’s shares staged a strong recovery in recent months, surging 23% to ₹464.85 apiece since November 2025 on expectations of strong summer demand and support from firm international coal prices amid geopolitical disruptions.
Although the stock has , it still remains 14.54% below its record peak of ₹543, touched in August 2024. Between August 2023 and August 2024, the stock witnessed a one-way rally, delivering a massive 129% return to shareholders.
For the quarter ended December, the company reported a consolidated lower than the ₹8,491 crore reported in the same period last year. The performance was impacted by weaker sales, higher operating costs, and weak realisations.
Its consolidated revenue from operations during the quarter under review also fell by 4.7% to ₹30,818 crore but improved by 14.5% on a quarter-on-quarter basis. In the year-ago quarter, revenue stood at ₹32,359 crore.
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