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Bharat Coking Coal Ltd (BHARATCOAL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544678 NSE: BHARATCOAL Industrial Gases & Fuels | Small Cap | Bharat Coking Coal Share Price

₹38.36 -0.83 (-2.12%)

As on 06-Jul'26 16:59

Bharat Coking Coal Ltd (BHARATCOAL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544678 NSE: BHARATCOAL Industrial Gases & Fuels | Small Cap | Bharat Coking Coal Share Price

₹38.36 -0.83 (-2.12%)

As on 06-Jul'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹18,251 Cr.
Current Price
₹38.4
52-Week Low / High
₹28 / 45
TTM EPS
₹0.3
TTM Sales
₹13,645 Cr.
Book Value per Share
₹12.4
P/E Ratio
142.27
Industry PE
26.3
Price to Book (P/B)
3.16
Price to Sales (P/S)
1.34
EV/EBITDA
24.49
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
21.05%
Outperforms industry median
Return on Capital Employed (ROCE)
30.13%
Outperforms industry median
Return on Assets (ROA)
8.07%
Operating Profit Margin
7%
Net Profit Margin
8.86%
Gross Profit Margin
12.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-0.33%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-42.13%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-20.73%
Asset Quality
Promoter Holding
90.00%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹1,122 Cr.
Equity
₹4,657 Cr.
Face Value
₹10
All Time Low / High
₹28.02 / 45.21

Bharat Coking Coal stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is Bharat Coking Coal Ltd a good quality company?
Bharat Coking Coal Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

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We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

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How does Bharat Coking Coal Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Bharat Coking Coal Ltd vs industry peers?
Bharat Coking Coal Ltd revenue CAGR is 8.23%, compared to the industry median CAGR of 1.69%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Bharat Coking Coal Ltd?
Promoters hold 90.00% of the Bharat Coking Coal Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Bharat Coking Coal Ltd over the last decade?
Over the last - year(s), the stock has delivered a CAGR of N/A% based on the current price.
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10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Bharat Coking Coal Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation ⓘ

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % ⓘ21.2%-2.3%-57.4%24.4%29.3%-29%6.4%16.6%47.2%30.1%-
Value Creation
Index ⓘ		0.6-1.2-5.30.81.2-3.2-0.50.22.51.2-

Growth Parameters ⓘ
Sales ⓘ10,5788,2677,4569,8759,4266,56710,12813,29714,04513,99813,645
Sales YoY Gr.--21.8%-9.8%32.4%-4.6%-30.3%54.2%31.3%5.6%-0.3%-
Adj EPS ⓘ2.9-0.8-6.71.32-2.60.21.43.42.70.3
YoY Gr.--128.1%NANA48.1%-231%NA495.8%135%-20.8%-
BVPS (₹) ⓘ9.79.1359.26.678.211.413.912.4
Adj Net
Profit ⓘ		609-171-1,409281919-1,2011136641,5631,241130
Cash Flow from Ops. ⓘ-322-37.36461,457-910-2,3033,3001,6991,2991,753-
Debt/CF from Ops. ⓘ-5.8-543.41.6-0.6-0.90000-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ3.2%8.2%11.4%-0.3%
Adj EPS ⓘ-0.9%6.2%123%-20.8%
BVPSⓘ4%8.5%25.5%21.4%
Share Price - - - -

Key Financial Parameters ⓘ

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity % ⓘ		23.5-8.6-110.333.534.3-32.53.618.834.321.12.1
Op. Profit
Mgn % ⓘ		3.6-4.1-30.76.36.9-24.71.33.812.172.5
Net Profit
Mgn % ⓘ		5.8-2.1-18.92.99.7-18.31.1511.18.91
Debt to
Equity ⓘ		0.91.13.52.20.10.700000
Working Cap
Days ⓘ		144224267132159288179130143171118
Cash Conv.
Cycle ⓘ		77114108-106100442016173

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales10,5788,2677,4569,8759,4266,56710,12813,29714,04513,998
Operating Expenses ⓘ + 10,1958,6049,7419,2528,7828,1899,99512,80012,34413,014
Manufacturing Costs3,2602,6982,2812,3141,9522,1182,8073,8783,9155,211
Material Costs177-163328442221-26251051830-280
Employee Cost 4,6025,1436,4165,8655,7615,5665,7887,3587,1516,714
Other Costs ⓘ 2,1569277166318487688911,0451,2481,369
Operating Profit ⓘ 382-337-2,285623644-1,6221334971,702985
Operating Profit Margin (%) 3.6%-4.1%-30.7%6.3%6.8%-24.7%1.3%3.7%12.1%7.0%
Other Income ⓘ + 6085106263837673754523957921,371
Exceptional Items ⓘ 0000000000
Interest ⓘ 16317419020122212278566272
Depreciation ⓘ 221263276249198209315305340581
Profit Before Tax ⓘ 606-263-2,125557991-1,5771915302,0921,703
Tax ⓘ -3-93-73426872-37580-135527463
Profit After Tax 609-170-1,391289919-1,2021126651,5641,240
PAT Margin (%) 5.8%-2.1%-18.7%2.9%9.8%-18.3%1.1%5.0%11.1%8.9%
Adjusted EPS (₹)2.9-0.8-6.61.42.0-2.60.21.43.42.6
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Bharat Coking Coal - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 2,0621,9266291,0524,2983,0893,2743,8045,3226,463
Share Capital ⓘ 2,1182,1182,1182,1184,6574,6574,6574,6574,6574,657
Reserves ⓘ -56-192-1,489-1,066-359-1,568-1,383-8536651,806
Debt +1,8662,0162,1772,3515832,0520000
Long Term Debt1,8662,0162,1772,351000000
Short Term Debt00005832,0520000
Minority Interest0000000000
Trade Payables8789841,3441,6679681,2098009131,2342,173
Others Liabilities ⓘ 4,3405,0245,4755,0955,9555,1086,2257,5487,4558,085
Total Liabilities ⓘ 9,1469,9499,62410,16411,80311,45710,29912,26514,01116,721

Fixed Assets

Net Fixed Assets ⓘ +1,6841,5291,9611,9862,0652,3032,4993,0793,6154,502
Gross Block1,9132,0082,7173,0123,1973,5804,0244,8035,6157,186
Accumulated Depreciation2294797551,0261,1311,2771,5251,7252,0012,684
CWIP ⓘ 7861,1391,4031,5431,7021,3901,4661,3001,3681,617
Investments ⓘ 7246126400802670
Inventories8881,2891,0297747011,1889781,0291,3821,960
Trade Receivables2,6382,6361,4606142,4153,0051,0371,2511,3331,848
Cash Equivalents 1,6771,3221,0932,1021,4581766251,1549451,130
Others Assets ⓘ 1,4011,9882,6773,1203,4583,3963,6944,3725,1025,664
Total Assets ⓘ 9,1469,9499,62410,16411,80311,45710,29912,26514,01116,721

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity ⓘ + -322-376461,457-910-2,3033,3001,6991,2991,753
PBT ⓘ 606-263-2,125557991-1,5771915302,0921,703
Adjustment ⓘ 984616632929836163750-173-227
Changes in Working Capital ⓘ -792-1032108607-1979-7072975437-505663
Tax Paid ⓘ -234-13200-21-55-29-18-115-386
Cash Flow From Investing Activity ⓘ + 990-494-442-1,431343970-582-1,687-1,486-1,736
Capex -427-455-976-460-494-403-648-1,007-1,187-1,722
Net Investments 1,241-15045-1,1416191,24443-727-404-88
Others ⓘ 175111488170217129234710674
Cash Flow From Financing Activity ⓘ + -67-0-48-132-681,930-2,150-43-74-132
Net Proceeds from Shares ⓘ 0000000000
Net Proceeds from Borrowing ⓘ 0000000000
Interest Paid ⓘ -163-174-190-201-222-122-67-43-1-1
Dividend Paid ⓘ 000000000-44
Others ⓘ 96173142691542,052-2,0830-72-87
Net Cash Flow ⓘ 601-532155-106-635597569-31-260-115

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)45.92-8.52-108.9134.3634.34-32.563.5118.7934.2921.05
ROCE (%)21.19-2.27-57.3624.4129.28-29.046.3916.5647.230.13
Asset Turnover Ratio1.260.930.781.361.160.771.251.541.411.2
PAT to CFO Conversion(x)-0.53N/AN/A5.04-0.99N/A29.462.550.831.41
Working Capital Days
Receivable Days68.80108.8098.3028.2043.50110.4054.3024.1025.5031.50
Inventory Days27.7044.9055.6024.5021.2038.5029.1021.1023.8033.10
Payable Days986.40-2,0781,295.301,242.202,178.40-1,515.20719.30603.400-2,222

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Bharat Coking Coal Ltd FAQs

The current trading price of Bharat Coking Coal on 06-Jul-2026 16:59 is ₹38.36.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 05-Jul-2026 the market cap of Bharat Coking Coal stood at ₹18,250.8 Cr

The latest P/E ratio of Bharat Coking Coal as of 05-Jul-2026 is 142.3.

The latest P/B ratio of Bharat Coking Coal as of 05-Jul-2026 is 3.16.

The 52-week high of Bharat Coking Coal is ₹45.21 and the 52-week low is ₹28.02.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Bharat Coking Coal is ₹13,645 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Bharat Coking Coal Ltd is a average quality company.

The key valuation ratios of Bharat Coking Coal Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Bharat Coking Coal Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Bharat Coking Coal Ltd

Bharat Coking Coal was incorporated in Bihar as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated January 01, 1972, issued by the Registrar of Companies, Bihar at Patna. Thereafter, the company was converted from a private limited company to a public limited company, pursuant to a special resolution passed by its shareholders in the extraordinary general meeting held on April 28, 2025, and a fresh certificate of incorporation dated May 7, 2025. 

Bharat Coking Coal, a Miniratna Public Sector Undertaking, is a wholly-owned subsidiary of Coal India (A Government of India Undertaking) having its Registered Office at Koyla Bhawan, Koyla Nagar, Dhanbad. The company was incorporated to operate coking coal mines in the Jharia and Raniganj Coalfields, taken over by the Govt. of India on October 16, 1971 to ensure planned development of the scarce coking coal resources in the country. Since then, the company is engaged in mining of coal and allied activities largely in the state of Jharkhand and marginally in the State of West Bengal. It occupies an important place in as much as it produces bulk of the coking coal mined in the country.

It is the largest coking coal producer in India. It produces various grades of coking coal, non-coking coal and washed coals for applications primarily in the steel and power industries. Its supplies raw coal to various industries such as power, steel and fertilizer industries, and also use its raw coal in its washeries for beneficiating the coal to produce washed coking coal and other by-products.

Business area of the company

The company is engaged in producing various grades of coking coal, non-coking coal and washed coals for applications primarily in the steel and power industries. The company, a Miniratna Public Sector Undertaking, is a wholly-owned subsidiary of Coal India (A Government of India Undertaking).

Products of the company

  • Coking Coal
  • Non-Coking Coal
  • Washed Coking Coal
  • Washed Power Coal

Awards and recognitions 

  • 2025: Awarded the gold award at the 1st Greenenviro Environment Award 2025 in the category of ‘Environment Excellence - Metal & Mining Sector’ by the Greenenviro Foundation.
  • 2024: Awarded second position for the ‘Corporate Award for quality awareness’ by Coal India Limited.
  • 2024: Awarded the ‘Special Recognition Award for Dividend Payment’ for outstanding performance in 2023-24 by Coal India Limited.
  • 2024: Moonidih coal mine of BCCL was given a 5-star rating and awarded the third prize at the annual rating of coal mines in India for the Year 2022-23.
  • 2024: Conferred the Indian corporate social responsibility award for “Best Skill Development Initiative of the Year - 2024 (PSU)” by Brand Hanchos.
  • 2023: Declared winner for outstanding achievements in promotion of education at the 10th Greentech CSR India Award 2023 by Greentech Foundation.
  • 2023: Declared winner for outstanding achievements in healthcare promotion at the 10th Greentech CSR India Award 2023 by Greentech Foundation.
  • 2023: Silver award in ‘CSR COVID Relief Project (mid-scale)’ at the 7th CSR health impact awards.
  • 2022: Conferred the coal minister's award FY 2021-22 and was given second prize by Coal India Limited in recognition and appreciation of exemplary performance in coal quality.

History and milestones

  • 2025: Restarted the coal production from Pootki-Bulliary project under the mine developer and operator model. 
  • 2024: Highest ever production of coal and offtake; Production of 41.10-million-ton raw coal with 13.59% growth and off- take of 39.27 million tonne clocking a growth of 10.42% over the corresponding period in the previous year 
  • 2024: Wiped out its accumulated loss from its books of accounts in FY 2023-24. 
  • 2023: Letter of work for the work ‘Re-open, salvage, rehabilitate, develop, construct, and operate or excavation/extraction of coal from Salanpur - AGKC Colliery coal mine and delivery thereof 
  • 2022: Highwall mining technology was introduced at Amalgamated Block-II OCP ‘ABOCP’ of BCCL through a mine operator for extraction of coal and delivery thereof. 
  • 2021: BCCL awarded the tender to a contractor for extraction of coalbed methane from Jharia Coal Bed Methane ‘CBM’ Block I (Jharia coalfield, BCCL leasehold area) on a revenue share (percentage) basis.
  • 2018: Commercial operation of 1.6 MTPA Dahibari non-linked washery 'NLW' coal washery was successfully commenced and handed over by BCCL. 
  • 2014: Conferred the Mini Ratna Status (Category-I) on October 7, 2014 
  • 2013: The net worth became positive in year FY 2012-13. 
  • 2013: Came out of Board for Industrial and Financial Reconstruction (BIFR) on February 12, 2013.

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