Coalindia

Coal India reported a mixed Q4 FY25 with production shortfalls at SECL and CCL due to land acquisition and clearance issues, while overall demand remained robust. Management guided for FY26 production of 875 million tonsCurrent 875 million tons. Reported change: +2.9% YoY. and offtake of 900 million tonsCurrent reported value: 900 million tons. No comparable prior figure is available in the source record., implying a ~3% growth. E-auction premiums normalized to 40-43%Current 40-43%. Reported change: -12pp QoQ. in Q4, with expectations of settling in the 30-40%Current reported value: 30-40%. No comparable prior figure is available in the source record. range. The company is focusing on expanding first-mile connectivity (targeting 100 rakes/dayCurrent reported value: 100 rakes/day. No comparable prior figure is available in the source record. by Q2) and increasing non-power linkages. Risks include rising competition from captive/commercial mines (projected 320 MT by FY30) and potential wage revision impact post-June 2026. The Supreme Court tax on minerals case remains a contingent liability (~INR 35,000 crore).