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As per the company, it will need to submit the required documents as per the LOA and sign the PPA, implementation support agreement (ISA) and land rights use agreement (LRUA), along with upfront solar park development charges before execution.
Coal India clarified that the contract is not a related-party transaction and that neither its promoters nor promoter group entities have any interest in the deal.
Coal India is India's largest coal producer and a Maharatna public sector undertaking. The company primarily engages in coal mining and production and supplies coal to power, steel, cement, fertilizer and other industrial sectors.
For the quarter ended March 2026, Coal India reported a 12.9% increase in consolidated net profit to Rs 10,839.18 crore, while revenue from operations rose 5.75% to Rs 46,490.03 crore compared with the corresponding quarter of the previous year.
Coal India reported its production and offtake performance for month of June 2026 as detailed below (figures in million tons):
Jun-26
Jun-25
% Change
57.4
57.8
-0.69%
65.8
61.2
7.52%
Coal India (CIL) has intensified its Research & Development (R&D) initiatives and plans to invest a total of around Rs.1,900 crore by FY 2030 on R&D activities.
CIL's transformational R&D thrust gathered momentum in FY 2024-25 with establishment of the National Centre for Coal and Energy Research (NaCCER), a hub-and-spoke modelled R&D centre. Since then, the company has shifted its focus from proof-of-concept studies to prototype development, corresponding to Technology Readiness Level (TRL)-4 and above.
'We intend to shift R&D to a higher orbit to drive the company's future growth and technological transformation,' a senior CIL official said.
CIL's R&D expenditure increased four-fold to Rs. 245 Crores in FY 2024-25, from Rs. 61 Crore in FY 2023-24. Department of Public Enterprises mandates annual R&D expenditure averaging one percent of the Profit Before Tax of the preceding three years. For structured innovation framework CIL has also formulated a comprehensive R&D Policy.
Strengthening industry-academia collaboration, CIL has established three Centres of Excellence (CoE) at Premier IITs- Centre of Clean Coal Energy and Net Zero (CLEANZ) Hyderabad, Centre for Sustainable Energy (CSE) Madras and Innovation in Mining (IMiN) at IIT (ISM) Dhanbad.
These centres function as research spokes under NaCCER, undertaking pilot-scale research, prototype development, and technology validation. CIL has committed Rs. 253 crore, to be released in phases, to these CoEs.
At present, 19 R&D projects, with a total outlay of Rs. 225 crore, are being executed by reputed scientific institutions under the direct oversight of NaCCER. In addition, 13 research projects with pilot-scale research, prototype development are underway in CoEs.
The research portfolio spans several strategic areas. CLEANZ is engaged in advanced research on clean coal energy and net-zero technologies, including enhanced coal bed methane recovery, carbon capture, utilisation and storage, mineral beneficiation, recovery of rare earth elements and critical minerals, high-ash coal gasification, and syngas utilisation.
CSE is focusing on sustainable materials, circular economy, mine repurposing, environmental remediation, feasibility assessment of micro modular nuclear reactors, and advanced wastewater treatment technologies. IMiN is dedicated to capacity building through research fellowships and developing solutions to mutually identified mining challenges.
CIL has also forged international collaborations with Ergo Exergy, Canada, for the Underground Coal Gasification Project at ECL; Ericsson, Sweden, for implementation of 5G technologies in the Jhanjra underground mine; and CSIRO, Australia, to advance collaborative research.
Coal India Ltd dropped for a fifth straight session today. The stock is quoting at Rs 443.9, down 0.1% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.93% on the day, quoting at 24046.8. The Sensex is at 77061.45, up 1.13%.Coal India Ltd has eased around 3.08% in last one month.Meanwhile, Nifty Energy index of which Coal India Ltd is a constituent, has eased around 1.25% in last one month and is currently quoting at 40268.7, down 0.49% on the day. The volume in the stock stood at 24.23 lakh shares today, compared to the daily average of 211.59 lakh shares in last one month.
The benchmark June futures contract for the stock is quoting at Rs 444.65, down 0.1% on the day. Coal India Ltd jumped 13.31% in last one year as compared to a 4.75% slide in NIFTY and a 11.87% spurt in the Nifty Energy index.
The PE of the stock is 14.5 based on TTM earnings ending March 26.
Responding to demands from the steel (coking) sector, the company has allowed them to sell coal middlings in the open market. Middlings are power grade coal that are residual byproduct of washed raw coking coal. While some steel plants consume these quantities in captive power generation, surplus volumes can now be sold externally. The provision has been introduced under the ongoing Tranche-X linkage auctions, which commenced on 3 June 2026.
The company has offered 13.75 MTs coal to Steel (coking) sub-sector in current tranche, while also permitting the change of consortium partners over the duration of the linkage period. Earlier, they had the option of changing the partners twice during the contract, which is now increased to five.
The company has also eased norms for NRS consumers planning greenfield and brownfield projects. Such consumers can now secure coal linkages before project commissioning. They can source coal within three years after the participation in the linkages which enables them to secure bank loans as fuel sourcing is tied up with this. It gives them greater leverage in the market.
The company continues to meet coal requirements of the power sector through various auction windows. Between January and May of the current fiscal year, the company offered 57.8 MT of coal under Window-II (short-term) and 69.2 MT under Window-I (long- and medium-term).
The company said that it continues to meet the coal requirements of the power sector. As a natural occurrence, coal stock levels tend to shrink at coal fired plants, fueled by peak summer demand. Therefore, marginal decline in coal stocks at power plants is not a cause for concern, as sustained coal production is ensuring continuous replenishment of fresh stocks.
The company will be conducting the next round of shortterm auctions under SHAKTI policy on 8 June, for power sector consumers, where around 34 MTs of coal would be put on the block.
The counter declined 1.96% to end at Rs 472.30 on the BSE.
The issue opened for non-retail investors on 27 May 2026 at a floor price of Rs 412 per share.
Investor response was strong. On the first day reserved for non-retail investors, bids were received for 45.17 crore shares against the total non-retail offer size of 11.09 crore shares, resulting in a subscription of 407.17%. Bids backed by 100% margin accounted for 14.30 crore shares, while bids without upfront margin stood at 30.87 crore shares.
The indicative price discovered during the non-retail bidding process was Rs 448.41 per share, while the clearing price was fixed at Rs 447.10 per share.
On the second day, which was open to retail investors and non-retail investors carrying forward their bids, the retail portion attracted bids for 1.61 crore shares against the total retail offer size of 1.23 crore shares, translating into a subscription of 130.29%.
The non-retail carry-forward portion received bids for 24.82 lakh shares, representing 2.01% of the total OFS size of 12.32 crore shares. Overall, bids for 1.85 crore shares were received on the second day, amounting to 15.04% of the total OFS size.
The government also offered up to 25,000 shares to eligible employees of Coal India, subject to necessary approvals. Employees could apply for shares worth up to Rs 5 lakh.
The successful completion of the OFS is expected to reduce the Government of India's stake in Coal India from 63.13% as of March 2026.
Currently, shares of Coal India were down 0.35% at Rs 470.85 on the BSE.