Coal India Limited

COALINDIA.NS

Coal · Energy

Price

₹415.25

-0.35 (-0.08%)

Market Cap

₹2.56T

Exchange

National Stock Exchange of India

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 9, 2026 · filings through Jun 30, 2026

Coal India Limited is the world's largest coal mining company by production volume. It digs coal out of the ground and sells it mainly to power plants, steel mills, and factories across India. The Indian government owns a majority stake in the company, making it a state-controlled enterprise that plays a central role in keeping India's electricity grid running.

The company earns money by selling coal directly to customers, with power generation companies being its biggest buyers. Coal India operates dozens of mines spread across several Indian states, and its sheer size — producing roughly 700–800 million tonnes per year — gives it a dominant position in the domestic market with little direct competition. The key risk the business faces is India's long-term push toward renewable energy, which could gradually reduce demand for coal-fired power and pressure future sales volumes.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+47.7% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+12.9% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (1%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

61.1%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$863.9B cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Coal India Limited grew revenue 48% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

−0.0% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 6.16B (2022) → 6.16B (2026)

Score breakdown

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Quality

Gross Margin

46.3%

Healthy — 46.3% gross margin

Operating Margin

21.1%

Excellent — 21.1% operating margin

ROCE

8.1%

Below par — 8.1% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+25.0%

Fast-growing sales (+25.0% YoY)

EPS YoY

-5.9%

Earnings shrinking (-5.9% YoY)

Slight earnings drop. Typical near a cyclical low.

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

28%

Weak — only 28% of profit becomes cash

FCF Margin

1.7%

Thin free cash flow (1.7%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

23.98x

Comfortably covers interest (24.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

8.2x

Attractive valuation — P/E 8.2

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward

+0.7

GROWING

Earnings roughly flat

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Dividends

Dividend Yield

6.37%

Healthy income — 6.37% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend Growth

-17.1%

Dividend cut (-17.1% YoY) — warning sign

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