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← CockpitCompetitor Analysis › BHARATCOAL.NS Bharat Coking Coal LimitedOpen in the cockpit ↗

Bharat Coking Coal LimitedBHARATCOAL.NSCompetitor analysis, valuation and peers

India · INR·Metal & Mining›Coal

India's dedicated coking-coal mining subsidiary of state-owned Coal India, supplying coal to the steel industry.

Momentum neutral 46
Competitor Analysis ▸ ChartsOpen in the cockpit
Mkt cap
$1.56B
US dollars, full cap
Free float
10%
of shares outstanding
$/day
$2.82M
20-day average traded
Fwd P/E
n/m
no positive forecast
ROIC−WACC
-16.4 pp
WACC 9.0%
Hurdle
n/a
no reverse DCF
Close · INR₹31.56
1D+0.6%
1W+6.2%
1M-1.6%
3M-7.9%
6M-5.4%
YTDn/a
1Yn/a
ATR %2.9%
52w lowhigh30.0% off high

What Bharat Coking Coal does

India's dedicated coking-coal mining subsidiary of state-owned Coal India, supplying coal to the steel industry.

Products and services

  • Coking coal
  • Thermal coal (secondary)

Customers

  • Steel Authority of India and other steelmakers
  • Power/thermal coal buyers

Where it sits in the supply chain

  • Mining
  • Coking coal mining
  • Coal supply to steel industry

What could go right

  • Domestic steel production growth reducing import reliance
  • Coal India group restructuring/listing

What could go wrong

  • Coal mining regulatory/environmental risk
  • Import coking coal price competition

Moat: wide (regulatory licence, scale). State-owned coal mining licences and reserves in India's key coking-coal belt are effectively non-replicable.

Headquarters: Dhanbad, India · Founded: 1972 · Employees: 30,361

Named competitors

  • Coal India (parent) COALINDIA.NS
  • NMDC NMDC.NS
  • Imported coking coal suppliers (BHP, Anglo American) private or unlisted

Bharat Coking Coal at a glance

Size Bharat Coking Coal (BHARATCOAL.NS) is an India Materials company (Coal) with a market value of $1.56B, the 456th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹31.56 on 6 Nov 2026.

Performance Over six months the shares fell 5.4%, against -11.4% for the median peer and 0.0% for the India market (cap-weighted) — 8th highest of 21 in its peer set.

Growth Revenue fell 15.3% over the last twelve months (peer median +11.4%); the operating margin is -4.9% (peer median 11.5%).

Valuation It trades at 1.1× enterprise value to sales against a peer median of 2.0× (5th cheapest of 21).

Capital Return on invested capital runs 16.4 points below its cost of capital (9.0% WACC).

Relative performance

8010012011 May 202611 Aug 20266 Nov 2026BHARATCOAL.NS 95Peer median 88
Six months, rebased to 100: Bharat Coking Coal against the median of its 20 peers (local-currency closes).

Bharat Coking Coal financials

Reported figures in INR; fiscal year ends 2026-03-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue₹141B₹136B₹161B₹140B₹133B
Revenue growth—-15%+15%+6%—
Gross profit₹35.2B₹30.5B₹48.6B₹29.9B₹12.3B
EBITDA-₹1.66B₹712M₹21.5B₹21.6B₹7.36B
Net income₹600M₹1.28B₹12.4B₹15.6B₹6.65B
Free cash flown/a-₹11.9B-₹702M₹2.11B₹7.34B
Capital expendituren/a₹6.19B₹8.35B₹12.0B₹10.1B
Total debt₹24.8B₹22.4B₹2.33B₹2.30B₹2.13B

Quarterly statements and history in the cockpit →

Bharat Coking Coal competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-20%0%-20%-10%0%VTLPARADEEPDEEPAKFERTBAYERCROPGRAPHITEGPILSARDAENATULCHAMBLFERTSHAILYTATACHEMFINEORGKANSAINERARVINDJINDALSAWAARTIINDPRIVISCLSUMICHEMSPLPETROGALLANTTBHARATCOAL.NS6-month return →1-month return →
Up and to the right = strong over both horizons. Bharat Coking Coal is the large dot.

Fundamentals: revenue growth against valuation

-10%0%+10%+20%+30%2×4×VTLPARADEEPDEEPAKFERTBAYERCROPGRAPHITEGPILSARDAENATULCHAMBLFERTSHAILYTATACHEMFINEORGKANSAINERARVINDJINDALSAWAARTIINDPRIVISCLSUMICHEMGALLANTTBHARATCOAL.NSRevenue growth (TTM) →EV / Sales →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Bharat Coking Coal is the large dot.

Bharat Coking Coal competitors and peer comparison

Head to head with its named competitors (BHARATCOAL.NS vs COALINDIA.NS vs NMDC.NS)
CompanyMarket cap6M returnRevenue growthOp. marginEV / SalesReq g
Bharat Coking Coal BHARATCOAL.NS$1.56B-5%-15%-5%1.1×n/a
Coal India COALINDIA.NS$26.1B-14%+23%19%1.1×-9.0%
NMDC NMDC.NS$6.55B-22%+27%27%1.9×5.2%

How Bharat Coking Coal compares with its peers

Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Bharat Coking Coal against its 20 peers (data as of 6 Nov 2026)
MeasureBHARATCOAL.NSPeer medianRank in peer set
1-month return-1.6%-7.5%5th highest of 21
6-month return-5.4%-11.4%8th highest of 21
Distance from 52-week high-30.0%-24.3%8th lowest of 21
Revenue growth (TTM)-15.3%+11.4%lowest of 21
Operating margin-4.9%11.5%lowest of 21
EV / Sales1.1×2.0×5th cheapest of 21
ROIC minus cost of capital-16.4 pp-1.9 pplowest of 21

Peer table

Peer set: Sector in the same market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginEV / SalesReq gDelivered g
Bharat Coking Coal BHARATCOAL.NSIndia$1.56B-5%-15%-5%1.1×n/an/a
Vardhman Textiles VTL.NSIndia$1.56B-15%+3%9%1.4×n/an/a
Paradeep Phosphates PARADEEP.NSIndia$1.57B+12%+31%7%1.0×n/an/a
Deepak Fertilisers and Petrochemicals DEEPAKFERT.NSIndia$1.54B-14%+14%13%1.2×n/an/a
Bayer Cropscience India BAYERCROP.NSIndia$1.58B-28%-5%15%2.7×16.1%+5.9%
Graphite India GRAPHITE.NSIndia$1.50B0%+22%9%3.6×n/an/a
Godawari Power & Ispat GPIL.NSIndia$1.49B-31%+8%19%2.4×21.7%+6.3%
Sarda Energy & Minerals SARDAEN.NSIndia$1.63B-27%-2%26%2.8×10.6%+20.9%
Atul ATUL.NSIndia$1.63B-26%+18%12%2.0×18.2%+11.0%
Chambal Fertilisers & Chemicals CHAMBLFERT.NSIndia$1.63B-15%+6%12%0.8×n/an/a
Shaily Engineering Plastics SHAILY.NSIndia$1.48B+14%+18%24%13.0×35.8%+22.8%
Tata Chemicals TATACHEM.NSIndia$1.64B-25%+2%3%1.0×n/an/a
Fine Organic Industries FINEORG.NSIndia$1.64B+9%+13%20%5.5×26.7%+15.7%
Kansai Nerolac Paints KANSAINER.NSIndia$1.67B-7%+10%9%1.6×22.1%+9.7%
Arvind ARVIND.NSIndia$1.43B+10%+19%8%1.6×21.1%+12.8%
Jindal Saw JINDALSAW.NSIndia$1.70B+4%-1%6%1.1×17.5%+10.9%
AARTI Industries AARTIIND.NSIndia$1.71B-9%+40%9%2.0×n/an/a
Privi Speciality Chemicals PRIVISCL.NSIndia$1.40B-4%+18%20%5.1×30.1%+15.0%
Sumitomo Chemical India SUMICHEM.NSIndia$1.74B-34%-3%18%4.8×23.4%+4.1%
Supreme Petrochem SPLPETRO.NSIndia$1.38B-6%+21%11%1.9×10.1%+11.1%
Gallantt Ispat GALLANTT.NSIndia$1.36B-38%+6%11%2.9×39.6%+16.0%

Questions

Who are Bharat Coking Coal's main competitors?
Named competitors: Coal India (parent) (COALINDIA.NS), NMDC (NMDC.NS), Imported coking coal suppliers (BHP, Anglo American) (private or unlisted). The cockpit's measured peer set (sector in the same market, nearest in size) also includes Vardhman Textiles (VTL.NS), Paradeep Phosphates (PARADEEP.NS), Deepak Fertilisers and Petrochemicals (DEEPAKFERT.NS), Bayer Cropscience India (BAYERCROP.NS), Graphite India (GRAPHITE.NS), Godawari Power & Ispat (GPIL.NS).
Is Bharat Coking Coal expensive compared with its peers?
On ev / sales it trades at 1.1× against a peer median of 2.0×, 5th cheapest of 21 in its peer set.
How has Bharat Coking Coal stock performed?
Over six months to 6 Nov 2026 the shares returned -5.4% against -11.4% for the median peer.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.