COALINDIA

Q4 2025 Result Analysis

reported steady profitability in Q4FY25, despite a marginal drop in revenue, while full-year FY25 performance reflected moderation compared to the previous fiscal. Q4FY25 Highlights: Revenue from operations was Rs 37,824.54 crore, slightly down from Rs 38,213.48 crore in Q4FY24. Profit Before Tax rose 11% YoY to Rs 12,873.19 crore. PAT increased 12% YoY to Rs 9,592.53 crore, reflecting operational efficiency and cost management. FY25 Highlights: Annual revenue came in at Rs 1,43,368.92 crore, marginally lower than FY24’s Rs 1,44,762.42 crore. PAT declined 6% YoY to Rs 35,302.10 crore, impacted by slightly lower topline and moderated price realizations. EBITDA stood at Rs 51,640 crore, maintaining a healthy margin of 41%. CAPEX reduced to Rs 19,410.02 crore, down from Rs 23,475.41 crore in FY24, indicating possible deferment of some capital projects. Government contribution remained strong at Rs 60,959.52 crore. Final dividend of Rs 5.15/share proposed, taking total FY25 dividend to Rs 26.50/share (including interim dividend of Rs 21.35). Commentary: Coal India delivered a resilient performance in Q4 despite flat revenues, aided by strong cost control and production efficiency. However, the full-year moderation in revenue and PAT signals the plateauing of coal pricing tailwinds seen in recent years. Lower CAPEX could imply a cautious approach amid market uncertainty or a shift in capital allocation strategy.