The Board of Directors of Coal India (CIL) has approved plans to list Mahanadi Coalfields (MCL) and South Eastern Coalfields (SECL) on the stock exchange. This decision follows the successful listings of Bharat Coking Coal Ltd (BCCL) in January and Central Mine Planning and Design Institute Ltd (CMPDI) in March 2026, according to Chairman B Sairam.
B Sairam stated that these IPOs are an important step towards unlocking the value of subsidiary companies, expanding their access to capital markets, and strengthening Coal India's position as a diversified public sector enterprise. He made this statement during the company's 52nd Annual General Meeting.
Previously, in May, the publication Business Standard reported that CIL planned to list MCL and SECL this year, considering the sale of a stake of about 25 percent. According to Sairam, the initial IPO plans for South Eastern Coalfields and Mahanadi Coalfields are moving forward, and greater clarity on timelines is expected around August or September.
MCL and SECL are among CIL's largest operating units. In the financial year 26, MCL produced 218.31 million tonnes of coal, the highest figure among CIL's subsidiaries. Furthermore, it recorded the highest net profit among the company's core operating units—INR 10,698 crore.
SECL, in turn, mined 176.29 million tonnes of coal and achieved a net profit of INR 4,755 crore. Sairam also noted that in 2025-26, CIL paid approximately INR 10,272 crore to the Government of India in dividends, despite the consolidated net profit of the company declining by 12 percent during this period.
The company's consolidated profit after tax in FY 26 was INR 31,071 crore, compared to INR 35,450 crore the previous year, while operating revenue remained relatively stable at INR 168,400 crore versus INR 169,177 crore in the prior year.
Despite the profit decline, Sairam emphasized that the company maintained a total dividend payout of INR 26.50 per share. The Board of Directors announced three interim dividends totaling INR 21.25 per share for the year and recommended a final dividend of INR 5.25 per share, subject to shareholder approval.
Cumulatively, this amounts to a total dividend of INR 26.50 per share, or 265% of the nominal value, allowing the maintenance of last year's total dividend payout despite moderate profits. Since its inception in 2010, CIL has distributed INR 1.88 lakh crore to its shareholders. The company demonstrated financial resilience despite slowing revenues, as its consolidated net worth increased by 17 percent, reaching INR 1,19,102 crore from INR 1,01,720 crore, added Sairam.