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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

₹35.28 0.33 (0.94%)

As on 27-Jul'26 15:24

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

₹35.28 0.33 (0.94%)

As on 27-Jul'26 15:24

Key Metrics
Valuation Multiples
Market Cap
₹16,276 Cr.
Current Price
₹35.3
52-Week Low / High
₹28 / 45
TTM EPS
₹0.3
TTM Sales
₹13,645 Cr.
Book Value per Share
₹12.3
P/E Ratio
126.88
Industry PE
25.2
Price to Book (P/B)
2.85
Price to Sales (P/S)
1.19
EV/EBITDA
21.98
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
2.10%
Underperforms industry median
Return on Capital Employed (ROCE)
4.32%
Underperforms industry median
Return on Assets (ROA)
0.70%
Operating Profit Margin
-9.6%
Net Profit Margin
0.94%
Gross Profit Margin
4.6%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-14.28%
Operating Profit Growth (1 Year)
-
-233.25%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-89.66%
Asset Quality
Promoter Holding
90.00%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹1,054 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

Somewhat Good
Check detailed performance

Valuation

Overvalued

Check Valuation charts

Price Trend

Weak
Check Price chart
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 15.75%, 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 :

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'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % ⓘ-2.3%-57.4%24.4%29.3%-29%6.4%16.6%47.2%30.1%4.3%-
Value Creation
Index ⓘ		-1.2-5.30.81.2-3.2-0.50.22.51.2-0.7-

Growth Parameters ⓘ
Sales ⓘ8,2677,4569,8759,4266,56710,12813,29714,04515,91713,64513,645
Sales YoY Gr.--9.8%32.4%-4.6%-30.3%54.2%31.3%5.6%13.3%-14.3%-
Adj EPS ⓘ-0.8-6.71.32-2.60.21.43.42.70.30.3
YoY Gr.-NANA48.1%-231%NA495.8%135%-20.8%-90.2%-
BVPS (₹) ⓘ9.1359.26.678.211.413.912.412.3
Adj Net
Profit ⓘ		-171-1,409281919-1,2011136641,5631,241121130
Cash Flow from Ops. ⓘ-37.36461,457-910-2,3033,3001,6991,299627-641-
Debt/CF from Ops. ⓘ-543.41.6-0.6-0.90000-3.1-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ5.7%15.8%0.9%-14.3%
Adj EPS ⓘNANA-43.4%-90.2%
BVPSⓘ3.5%13.4%15%-10.6%
Share Price - - - -

Key Financial Parameters ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ		-8.6-110.333.534.3-32.53.618.834.321.122.3
Op. Profit
Mgn % ⓘ		-4.1-30.76.36.9-24.71.33.812.16.2-9.6-1.3
Net Profit
Mgn % ⓘ		-2.1-18.92.99.7-18.31.1511.17.80.91
Debt to
Equity ⓘ		1.13.52.20.10.700000.4-
Working Cap
Days ⓘ		22426713215928817913014319828569
Cash Conv.
Cycle ⓘ		114108-1061004420162645-5

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales8,2677,4569,8759,4266,56710,12813,29714,04515,91713,645
Operating Expenses ⓘ + 8,6049,7419,2528,7828,1899,99512,80012,34414,93314,957
Manufacturing Costs2,6982,2812,3141,9522,1182,8073,8783,9154,8474,938
Material Costs-163328442221-2625105183078-431
Employee Cost 5,1436,4165,8655,7615,5665,7887,3587,1516,5426,444
Other Costs ⓘ 9277166318487688911,0451,2483,4654,007
Operating Profit ⓘ -337-2,285623644-1,6221334971,702985-1,312
Operating Profit Margin (%) -4.1%-30.7%6.3%6.8%-24.7%1.3%3.7%12.1%6.2%-9.6%
Other Income ⓘ + 5106263837673754523957921,3712,097
Exceptional Items ⓘ 0000000000
Interest ⓘ 17419020122212278566272159
Depreciation ⓘ 263276249198209315305340581478
Profit Before Tax ⓘ -263-2,125557991-1,5771915302,0921,703149
Tax ⓘ -93-73426872-37580-13552746321
Profit After Tax -170-1,391289919-1,2021126651,5641,240128
PAT Margin (%) -2.1%-18.7%2.9%9.8%-18.3%1.1%5.0%11.1%7.8%0.9%
Adjusted EPS (₹)-0.8-6.61.42.0-2.60.21.43.42.70.3
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'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 1,9266291,0524,2983,0893,2743,8045,3226,4635,779
Share Capital ⓘ 2,1182,1182,1184,6574,6574,6574,6574,6574,6574,657
Reserves ⓘ -192-1,489-1,066-359-1,568-1,383-8536651,8061,122
Debt +2,0162,1772,3515832,05200002,000
Long Term Debt2,0162,1772,3510000000
Short Term Debt0005832,05200002,000
Minority Interest0000000000
Trade Payables9841,3441,6679681,2098009131,2342,1733,694
Others Liabilities ⓘ 5,0245,4755,0955,9555,1086,2257,5487,4558,0858,582
Total Liabilities ⓘ 9,9499,62410,16411,80311,45710,29912,26514,01116,72120,054

Fixed Assets

Net Fixed Assets ⓘ +1,5291,9611,9862,0652,3032,4993,0793,6154,5025,326
Gross Block2,0082,7173,0123,1973,5804,0244,8035,6157,1868,526
Accumulated Depreciation4797551,0261,1311,2771,5251,7252,0012,6843,200
CWIP ⓘ 1,1391,4031,5431,7021,3901,4661,3001,3681,6171,874
Investments ⓘ 461264008026700
Inventories1,2891,0297747011,1889781,0291,3821,9603,047
Trade Receivables2,6361,4606142,4153,0051,0371,2511,3331,8482,863
Cash Equivalents 1,3221,0932,1021,4581766251,1549451,1301,013
Others Assets ⓘ 1,9882,6773,1203,4583,3963,6944,3725,1025,6645,931
Total Assets ⓘ 9,9499,62410,16411,80311,45710,29912,26514,01116,72120,054

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity ⓘ + -376461,457-910-2,3033,3001,6991,299627-641
PBT ⓘ -263-2,125557991-1,5771915302,0921,703149
Adjustment ⓘ 4616632929836163750-173-227-855
Changes in Working Capital ⓘ -1032108607-1979-7072975437-505-488-118
Tax Paid ⓘ -13200-21-55-29-18-115-360183
Cash Flow From Investing Activity ⓘ + -494-442-1,431343970-582-1,687-1,486-823-310
Capex -455-976-460-494-403-648-1,007-1,187-830-598
Net Investments -15045-1,1416191,24443-727-404-131131
Others ⓘ 1114881702171292347106138158
Cash Flow From Financing Activity ⓘ + -0-48-132-681,930-2,150-43-74371,150
Net Proceeds from Shares ⓘ 0000000000
Net Proceeds from Borrowing ⓘ 0000000000
Interest Paid ⓘ -174-190-201-222-122-67-43-1-1-84
Dividend Paid ⓘ 00000000-44-844
Others ⓘ 173142691542,052-2,0830-72822,078
Net Cash Flow ⓘ -532155-106-635597569-31-260-159200

Financial Ratio

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)-8.52-108.9134.3634.34-32.563.5118.7934.2921.052.1
ROCE (%)-2.27-57.3624.4129.28-29.046.3916.5647.230.134.32
Asset Turnover Ratio0.930.781.361.160.771.251.541.411.040.74
PAT to CFO Conversion(x)N/AN/A5.04-0.99N/A29.462.550.830.51-5.01
Working Capital Days
Receivable Days108.8098.3028.2043.50110.4054.3024.1025.5036.5063
Inventory Days44.9055.6024.5021.2038.5029.1021.1023.8038.3067
Payable Days-2,0781,295.301,242.202,178.40-1,515.20719.30603.4007,936.40-2,482.70

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.00
* 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 27-Jul-2026 15:24 is ₹35.28.

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 26-Jul-2026 the market cap of Bharat Coking Coal stood at ₹16,276.2 Cr

The latest P/E ratio of Bharat Coking Coal as of 26-Jul-2026 is 126.9.

The latest P/B ratio of Bharat Coking Coal as of 26-Jul-2026 is 2.85.

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 Weak which suggest that the price of Bharat Coking Coal Ltd is likely to Fall 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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