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Coal India FY26 PAT Falls 12% to ₹31,071 Cr; Q4 PAT Rises 12% to ₹10,908 Cr
Coal India reported a mixed set of results for FY26, with annual Profit After Tax (PAT) declining 12% to ₹31,071 Cr, impacted by a one-time executive pay provision of ₹1,458 Cr and a ₹3,635 Cr increase in Jharkhand mineral cess. However, Q4 FY26 showed resilience with PAT growing 12% YoY to ₹10,908 Cr and revenue rising 6% to ₹46,490 Cr. The company achieved significant milestones including the listing of subsidiaries BCCL and CMPDIL and its first foray into Rare Earth Elements (REE) in Maharashtra.
Key Highlights
Annual coal production for FY26 stood at 768.19 MT, a 2% decline YoY and missing the 875.24 MT target.
Q4 FY26 PAT increased by 12% YoY to ₹10,908 Cr, driven by a 6% growth in quarterly revenue.
Subsidiaries BCCL and CMPDIL were successfully listed on BSE and NSE during Q4 FY26.
Elimination of inverted tax structure led to the utilization of accumulated ITC worth ₹5,985 Cr.
Company secured its first Rare Earth Element (REE) block in Maharashtra and signed a JV for a 1,600 MW thermal project.
💼 Action for Investors
Investors should monitor the value unlocking from the newly listed subsidiaries and the company's diversification into critical minerals. While annual margins were pressured by one-off costs and cess, the strong Q4 recovery and maiden dividends from JVs like HURL support a long-term hold strategy.
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Coal India Reaffirms Top-Tier 'CARE AAA; Stable' Credit Rating for ₹14,230 Cr Facilities
CareEdge Ratings has reaffirmed Coal India's long-term rating at 'CARE AAA; Stable' and short-term rating at 'CARE A1+'. The total rated bank facilities have been enhanced to ₹14,230.38 crore from the previous ₹13,767 crore. This reaffirmation is based on the company's strong operational and financial performance during FY25 and the first nine months of FY26. The stable outlook reflects the company's dominant market position and robust credit profile as a Maharatna PSU.
Key Highlights
Long-term rating reaffirmed at 'CARE AAA; Stable' for facilities worth ₹8,605.38 crore
Short-term rating reaffirmed at 'CARE A1+' for facilities worth ₹5,625.00 crore
Total rated bank facilities increased to ₹14,230.38 crore from ₹13,767.00 crore
Rating review based on Audited FY25 and Unaudited 9MFY26 financial performance
Includes ₹1,680.38 crore in term loans from NABARD and Bank of India
💼 Action for Investors
Investors should view this as a confirmation of Coal India's exceptionally strong financial health and low default risk. No immediate action is required as the rating remains at the highest possible level.
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Coal India Board Meeting on April 27 to Approve FY26 Results and Final Dividend
Coal India Limited has scheduled a Board of Directors meeting on April 27, 2026, to approve the audited standalone and consolidated financial results for the fourth quarter and the full financial year ended March 31, 2026. A significant agenda item is the consideration of a final dividend for the fiscal year 2025-26. As a Maharatna PSU with a history of high dividend payouts, this meeting is a key event for shareholders. The results will also provide insights into the company's production performance and cost management during the final quarter of the fiscal year.
Key Highlights
Board meeting scheduled for April 27, 2026, to review FY26 performance.
Agenda includes consideration of a final dividend for the financial year 2025-26.
Audited financial results (Standalone and Consolidated) for Q4 and FY26 to be taken on record.
The announcement follows statutory newspaper publications in 'Hindu Business Line' and 'Sangbad Pratidin'.
💼 Action for Investors
Investors should monitor the April 27 announcement for the dividend quantum and management's production guidance for FY27. The stock remains attractive for those seeking dividend yield and steady PSU performance.
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Coal India Absorbs Rising Input Costs; Diesel Up 54% and Explosives Up 26%
Coal India Limited (CIL) has announced it will absorb significant increases in operational costs rather than passing them on to consumers. Industrial diesel prices have surged 54% to ₹142 per litre, while Ammonium Nitrate prices rose 44%, leading to a 26% spike in explosive costs. The company is also compensating contractors for these hikes and has reduced reserve prices in certain e-auctions to keep coal affordable. While this supports national energy security and inflation control, it is expected to put pressure on the company's near-term operating margins.
Key Highlights
Industrial diesel prices rose 54% from ₹92 per litre to ₹142 per litre as of April 1, 2026.
Ammonium Nitrate prices increased 44% to ₹72,750 per metric ton, driving average explosive costs up by 26% to ₹49,783 per MT.
CIL consumes approximately 9 Lakh metric tons of explosives and 4.19 Lakh KL of diesel annually.
Subsidiaries have reduced reserve prices in Single Window Mode Agnostic e-auctions and increased auction frequency.
CIL is absorbing these costs and compensating contractors to insulate coal users from escalating price burdens.
💼 Action for Investors
Investors should brace for potential margin compression in the upcoming quarters as CIL absorbs these substantial input cost hikes. Monitor whether the company eventually seeks a price revision for non-power sectors to offset these inflationary pressures.
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Coal India FY26 E-Auction: 1,017 Lakh Tonnes Allocated at 38% Premium Over Notified Price
Coal India Limited (CIL) has released its Single Window Mode Agnostic (SWMA) E-auction data for March 2026 and the full financial year 2025-26. For the entire fiscal year, CIL allocated 1,017.21 lakh tonnes of coal, achieving a 46% allocation rate against the total quantity offered. Significantly, the company realized a 38% premium over the notified price for the full year, with the month of March 2026 showing an even stronger premium of 45%. This data highlights steady demand and healthy realizations from non-regulated sector sales.
Key Highlights
Total quantity allocated in FY 2025-26 stood at 1,017.21 lakh tonnes out of 2,221.5 lakh tonnes offered.
Realized an average premium of 38% over the notified price for the full financial year 2025-26.
March 2026 performance was particularly strong with a 45% premium over the notified price on 133.17 lakh tonnes.
NCL subsidiary achieved the highest allocation efficiency at 83% for the full fiscal year.
MCL remained the largest volume contributor, offering 722.57 lakh tonnes during FY 2025-26.
💼 Action for Investors
Investors should view the healthy e-auction premiums as a positive indicator for CIL's margins, as these sales are more profitable than fixed-price FSA contracts. The uptick in March premiums to 45% suggests robust demand which may support earnings in the upcoming quarters.
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Coal India Subsidiary CMPDI Lists on Exchanges; Parent Stake Reduced to 85%
Coal India Limited has successfully completed the listing of its subsidiary, Central Mine Planning & Design Institute Limited (CMPDI), on the BSE and NSE effective March 30, 2026. The parent company sold 10.71 crore equity shares through an Offer for Sale (OFS) at a price of ₹172 per share. Consequently, Coal India's stake in CMPDI has decreased from 100% to 85%. While CMPDI is no longer a wholly-owned subsidiary, it remains a subsidiary of Coal India, facilitating value unlocking for the parent company.
Key Highlights
CMPDI listed on BSE and NSE on March 30, 2026, following its Initial Public Offering.
Coal India sold 107,100,000 equity shares at an offer price of ₹172.00 per share via OFS.
Parent company's shareholding reduced from 100% (714 million shares) to 85% (606.9 million shares).
CMPDI ceases to be a wholly-owned subsidiary but continues as a subsidiary of Coal India.
💼 Action for Investors
Investors should view this as a positive value-unlocking event that establishes a market valuation for a key subsidiary. Monitor the utilization of the OFS proceeds by Coal India for future growth or dividends.
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Coal India Bags Rs 1,057 Cr Order for 750 MWh BESS Project in Telangana
Coal India Limited (CIL) has secured a Letter of Award from Telangana Power Generation Corporation Limited for a 750 MWh Battery Energy Storage System (BESS) project. The project, located at Choutuppal, carries an estimated cost of Rs 1,057.09 crore and features a capacity of 187.5 MW for 4 hours. CIL will benefit from a tariff of Rs 3.14 lakh per MW per month, establishing a new revenue stream in the green energy sector. The project is expected to be completed within 18 months from the signing of the formal agreement.
Key Highlights
Total estimated project cost of Rs 1,057.09 crore for the BESS facility
Capacity of 750 MWh (187.5 MW for 4 hours) at Choutuppal, Telangana
Secured tariff of Rs 3.14 lakh per MW per month for the project
Execution timeline of 18 months from the signing of the BESPA
💼 Action for Investors
This move signals CIL's serious intent to diversify beyond coal into renewable energy infrastructure, which is positive for long-term valuation. Investors should monitor the timely execution of this project as a benchmark for future green initiatives.
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Coal India Incorporates JV with DVC; Plans ₹3,132.96 Cr Equity Infusion for Power Projects
Coal India Limited (CIL) has officially incorporated a 50:50 joint venture company with Damodar Valley Corporation (DVC) named DVC CIL Power Private Limited. The JV is set to diversify CIL's operations into power generation (thermal, hydro, and renewable), transmission, and distribution. The project financing is structured with a 30:70 equity-to-debt ratio, involving a significant equity infusion of ₹3,132.96 crore. This move marks a strategic expansion for the coal major into the broader energy and utility value chain.
Key Highlights
Incorporation of DVC CIL Power Private Limited as a 50:50 JV between CIL and DVC on March 27, 2026
Planned equity infusion of ₹3,132.96 crore by the partners
Project funding structure established at 30% equity and 70% debt
Business scope covers thermal, hydro, and renewable energy generation plus transmission and distribution
Initial capital consists of 50,000 equity shares of ₹10 each from each partner
💼 Action for Investors
Investors should monitor this as a positive long-term diversification play that reduces CIL's single-commodity risk. The substantial capital commitment of over ₹3,100 crore indicates a serious shift towards becoming an integrated energy player.
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Coal India to Invest Rs 3,300 Cr for 8 New Coking Coal Washeries by FY 2030
Coal India Limited (CIL) has announced a major capital outlay of Rs 3,300 crore to set up eight new coking coal washeries with a combined capacity of 21.5 MT/Y. This expansion, slated for completion by FY 2030, will significantly augment CIL's existing washing capacity of 18.35 MT/Y. The company is also investing Rs 300 crore in modernizing current facilities and plans to monetize three non-operative washeries. This move aims to improve domestic coal quality and reduce India's heavy reliance on coking coal imports for the steel industry.
Key Highlights
Investment of Rs 3,300 crore for 8 new washeries with 21.5 MT/Y capacity by FY 2030
Additional Rs 300 crore allocated for renovation and modernization of existing coking coal washeries
Expansion includes 5 units in Central Coalfields (14.5 MT/Y) and 3 in Bharat Coking Coal (7 MT/Y)
Collaboration with TATA Steel Limited to leverage technical expertise for quality enhancement
Plans to monetize 3 older, non-operative washeries under the National Monetization Policy
💼 Action for Investors
Investors should monitor the execution of these projects as they represent a strategic shift towards high-value processed coal which offers better margins. The reduction in import dependence and synergy with the steel sector are long-term growth drivers for the stock.
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Coal India Subsidiary CMPDIL Files Prospectus for IPO of 10.71 Crore Shares
Coal India Limited (CIL) has announced that its wholly-owned subsidiary, Central Mine Planning & Design Institute Limited (CMPDIL), filed its prospectus with the Registrar of Companies on March 25, 2026. The IPO is structured as an Offer for Sale (OFS) of up to 107,100,000 equity shares with a face value of ₹2 each. This divestment is a strategic move by Coal India to unlock the intrinsic value of its specialized consultancy and design wing. The filing follows the earlier Red Herring Prospectus dated March 12, 2026, indicating the IPO process is in its final stages.
Key Highlights
Filing of Prospectus for CMPDIL IPO with ROC Jharkhand completed on March 25, 2026.
The offer consists of an Offer for Sale (OFS) of up to 107,100,000 equity shares.
Equity shares have a face value of ₹2 each; CMPDIL is currently a 100% subsidiary of Coal India.
The move follows the Red Herring Prospectus (RHP) which was dated March 12, 2026.
💼 Action for Investors
Investors should view this as a value-unlocking event for Coal India; monitor the IPO pricing and listing performance for impact on the parent company's valuation.
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Coal India to Incorporate 100% Subsidiary in Singapore for Overseas Critical Mineral Assets
Coal India Limited (CIL) has received board approval to incorporate a 100% owned Intermediate Holding Company (IHC) in Singapore. This strategic entity is designed to facilitate the acquisition and development of critical mineral assets globally, providing structural flexibility for future international investments. The move aligns with India's strategic focus on securing critical minerals like lithium and cobalt for the energy transition. While the specific cost of subscription is yet to be finalized, the incorporation requires approvals from the Ministry of Coal and DIPAM.
Key Highlights
Board approved 100% equity investment in a new Singapore-based Intermediate Holding Company (IHC).
Strategic focus on exploring and developing overseas critical mineral asset acquisitions.
Entity will provide structural flexibility for future acquisitions and efficient management of overseas investments.
Regulatory approvals required from the Ministry of Coal (MoC) and DIPAM.
💼 Action for Investors
Investors should view this as a positive long-term strategic diversification beyond domestic coal mining. Monitor for specific mineral asset acquisition announcements through this new entity as it could drive future valuation re-rating.
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Coal India to Incorporate 100% Subsidiary in Singapore for Global Critical Mineral Assets
Coal India Limited (CIL) has received board approval to incorporate a 100% owned Intermediate Holding Company (IHC) in Singapore. This strategic move is specifically designed to explore and develop overseas opportunities in the field of critical mineral asset acquisition. The Singapore-based entity will provide structural flexibility for future international acquisitions and ensure efficient management of overseas investments. The incorporation is subject to regulatory approvals from the Ministry of Coal (MoC) and DIPAM.
Key Highlights
Board approval for 100% equity investment in a new Singapore-based Intermediate Holding Company
Strategic focus on acquiring and developing overseas critical mineral assets
Entity designed to provide structural flexibility and efficient management for future global acquisitions
Regulatory approvals required from the Ministry of Coal (MoC) and DIPAM
💼 Action for Investors
This is a positive long-term strategic move to diversify beyond thermal coal; investors should monitor future announcements regarding specific mineral targets and capital allocation for this entity.
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Coal India to Incorporate 100% Owned Subsidiary in Singapore for Critical Minerals
Coal India Limited (CIL) has received board approval to incorporate a 100% owned Intermediate Holding Company (IHC) in Singapore. This strategic entity is designed to spearhead the company's entry into the overseas critical minerals market, focusing on asset acquisition and development. The Singapore base will provide structural flexibility and efficient management for future international investments. This move aligns with the company's long-term goal of diversifying its portfolio beyond domestic coal mining into high-demand minerals.
Key Highlights
100% equity ownership by Coal India in the new Singapore-based Intermediate Holding Company
Primary objective is to explore and develop overseas opportunities in critical mineral asset acquisition
Requires regulatory approvals from the Ministry of Coal (MoC) and DIPAM
Designed to provide structural flexibility for future global expansion and efficient investment management
💼 Action for Investors
Investors should view this as a positive long-term strategic diversification into the critical minerals space. Monitor further announcements regarding specific overseas asset acquisitions or partnerships facilitated by this new entity.
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Coal India Files RHP for CMPDIL IPO; To Sell Up To 10.71 Crore Shares via OFS
Coal India Limited (CIL) has officially filed the Red Herring Prospectus (RHP) for the Initial Public Offering (IPO) of its wholly-owned subsidiary, Central Mine Planning and Design Institute Limited (CMPDIL). The IPO is structured as an Offer for Sale (OFS) where CIL will divest up to 107,100,000 equity shares. This move is a significant step towards value unlocking for the Maharatna PSU, potentially providing a substantial cash inflow. The final timeline and pricing remain subject to SEBI approvals and market conditions.
Key Highlights
RHP filed for the IPO of wholly-owned subsidiary CMPDIL on March 12, 2026
Proposed IPO consists of an Offer for Sale (OFS) of up to 107,100,000 equity shares by Coal India
The divestment aims to unlock the market value of CIL's specialized planning and design arm
Proceeds from the OFS will directly benefit Coal India's balance sheet
Filing completed with SEBI, BSE, and NSE as per Regulation 30 of SEBI LODR
💼 Action for Investors
Investors should view this as a positive value-unlocking event that could lead to higher cash reserves or special dividends. Monitor the IPO valuation and listing gains as they will directly impact Coal India's consolidated net worth.
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Coal India Feb 2026 Production Up 0.7% to 74.7 MT; Cumulative Off-take Down 2.8%
Coal India Limited (CIL) reported a marginal 0.7% increase in coal production for February 2026, reaching 74.7 million tonnes (MT). However, the cumulative production for the April 2025 to February 2026 period declined by 1.7% to 683.7 MT. Off-take performance was weaker, with a 1.5% year-on-year drop in February to 62.0 MT and a 2.8% decline for the cumulative 11-month period. Performance across subsidiaries was mixed, with SECL showing growth while WCL and BCCL faced significant double-digit declines in off-take.
Key Highlights
February 2026 production stood at 74.7 MT, a slight 0.7% increase compared to 74.1 MT in Feb 2025.
Cumulative production for Apr'25-Feb'26 reached 683.7 MT, down 1.7% from 695.3 MT in the previous year.
Monthly off-take for February fell 1.5% YoY to 62.0 MT, indicating slower dispatch to consumers.
SECL recorded strong off-take growth of 11% in February, while BCCL off-take plunged by 28.8%.
Total cumulative off-take for the 11-month period stands at 674.6 MT versus 694.1 MT last year.
💼 Action for Investors
Investors should monitor the trend in off-take volumes as the decline suggests potential demand softening or logistical constraints. While the stock remains a strong dividend play, stagnant production and falling off-take could weigh on near-term revenue growth.
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Coal India Prepared for Summer Demand with Record 175.5 MT Total Coal Inventory
Coal India (CIL) has announced a robust three-layer buffer to meet the anticipated surge in summer power demand. The company currently holds 115 MT of pithead stock and 55 MT at power plants, marking the highest inventory levels ever recorded for this period. With an additional 60.2 MT of in-situ coal ready for extraction, CIL is well-positioned to mitigate domestic coal scarcity and potentially reduce the country's reliance on expensive coal imports as international prices rise.
Key Highlights
Pithead coal stocks reached 115 MT as of February 26, 2026, with further increases expected by fiscal year-end.
Domestic coal-based power plants hold record-high stocks of 55 MT, the highest ever for this time of year.
Total on-tap coal accessibility stands at approximately 175.5 MT, including transit and pithead stocks.
In-situ coal exposure of 60.2 MT at major mines allows for rapid extraction and supply at short notice.
High domestic availability is expected to catalyze a reduction in coal imports amid rising international prices.
💼 Action for Investors
Investors should view this as a sign of operational stability and readiness to capture peak seasonal demand. The record inventory levels reduce supply-side risks and support CIL's volume growth targets for the upcoming quarter.
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Coal India Solar Capex Surges 2.33X to Rs 961 Cr; Surpasses FY26 Target Early
Coal India (CIL) has significantly accelerated its renewable energy transition, with solar capital expenditure reaching Rs 961 Crores by January FY26, a 133% year-on-year increase. The company has already exceeded its full-year solar capex target of Rs 957 Crores, achieving 132% of its progressive target. CIL aims to reach a total renewable capacity of 3,000 MW by FY28 to achieve Net-Zero status, with capacity expected to jump from 247 MW to 675 MW by the end of the current fiscal. This diversification is supported by falling installation costs, now at Rs 4-4.5 Crores per MW.
Key Highlights
Solar Capex reached Rs 961 Crores till Jan FY26, growing 2.33x compared to Rs 412 Crores in the previous year.
Already surpassed the full-year FY26 solar capex target of Rs 957 Crores by January.
Renewable capacity expected to reach 675 MW by March 2026, up from 247 MW in December 2025.
Targeting 3,000 MW of solar capacity by FY28 with major projects in Gujarat, Rajasthan, and Uttar Pradesh.
Installation costs per MW have reduced to Rs 4-4.5 Crores from the earlier range of Rs 5.5-6 Crores.
💼 Action for Investors
Investors should recognize this as a strong execution of CIL's ESG and diversification strategy which may lead to a valuation re-rating. Monitor the timely commissioning of the 400 MW Gujarat projects and the 1,375 MW JV projects in Rajasthan and UP.
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Coal India Declares 3rd Interim Dividend of ₹5.50; Sets Record Date for Feb 18, 2026
Coal India Limited has announced a 3rd interim dividend of ₹5.50 per equity share for the financial year 2025-26. The record date for determining shareholder eligibility is February 18, 2026, and the company will transition to 100% electronic dividend payments, discontinuing physical warrants. Tax will be deducted at source (TDS) at 10% for resident shareholders with valid PAN, while a higher rate of 20% applies for those without. Shareholders have until February 20, 2026, to submit tax exemption documents through the company's dedicated tax portal.
Key Highlights
Declared 3rd interim dividend of ₹5.50 per equity share with a face value of ₹10.
Record date for dividend eligibility is fixed as Wednesday, February 18, 2026.
TDS of 10% applies to resident shareholders; no TDS if total FY dividend is below ₹10,000.
Non-resident shareholders can claim tax treaty benefits by providing TRC and Form 10F.
Deadline for submitting tax-related declarations via the online portal is February 20, 2026.
💼 Action for Investors
Investors should ensure their bank account and PAN details are updated in their demat accounts to facilitate electronic payment. Those eligible for tax exemptions should submit Form 15G/15H on the Coal India tax portal before the February 20 deadline.
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Coal India Q3 PAT Falls 16% to ₹7,166 Cr; Impacted by Wage Provisions and Lower Production
Coal India Limited (CIL) reported a 22% YoY decline in Profit After Tax (PAT) for 9M FY26 to ₹20,163 crore, with Q3 PAT falling 16% to ₹7,166 crore. The bottom line was significantly impacted by a one-time provision of ₹2,201 crore for executive pay upgradation and a 3% dip in coal production to 529.19 MT. Despite lower earnings, the company achieved strategic milestones including the listing of its subsidiary BCCL and a maiden foray into Rare Earth Elements (REE). EBITDA margins contracted to 35% from 41% in the previous year due to lower realizations and higher employee costs.
Key Highlights
9M FY26 Profit After Tax (PAT) declined 22% YoY to ₹20,163 crore, while Revenue from Operations fell 4% to ₹1,00,953 crore.
Coal production and offtake both saw a 3% YoY decline during the 9-month period, reaching 529.19 MT and 545.74 MT respectively.
One-time estimated provision of ₹2,201 crore for executive pay upgradation effective August 2023 weighed on profitability.
Average realization per tonne decreased by 1% to ₹1,645, with e-auction prices dropping 6% to ₹2,356 per tonne.
Strategic developments include the listing of BCCL on Jan 19, 2026, and securing the Kawalapur REE Block in Maharashtra.
💼 Action for Investors
Investors should note the short-term earnings pressure from wage provisions and production dips, but remain focused on the long-term value from the BCCL listing and diversification into critical minerals. Monitor Q4 production targets and the impact of the increased 18% GST on coal on working capital cycles.
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Coal India Declares 3rd Interim Dividend of Rs 5.50 Per Share for FY 2025-26
Coal India Limited has announced a third interim dividend of Rs 5.50 per equity share for the financial year 2025-26. The decision was taken during the board meeting held on February 12, 2026, alongside the approval of Q3 FY26 financial results. The company has established February 18, 2026, as the record date to identify eligible shareholders. Shareholders can expect the dividend payout to be completed by March 13, 2026, via electronic transfer only.
Key Highlights
Declared 3rd interim dividend of Rs 5.50 per share on a face value of Rs 10
Record date for dividend eligibility is fixed for February 18, 2026
Dividend payment will be processed on or before March 13, 2026
Mandatory electronic-only payment mode implemented as per updated SEBI regulations
💼 Action for Investors
Investors should hold the stock before the record date of February 18 to qualify for the dividend. Ensure bank account details are linked to the demat account for seamless electronic credit.