New Delhi, 19 January (H.S.): Shares of Bharat Coking Coal Limited (BCCL), India's largest coal producer Coal India Limited's subsidiary, made a thunderous stock market debut on Monday, delighting its IPO investors. The company's shares were issued at ₹23 under the IPO. They listed on BSE at ₹45.21—nearly 96% premium—and at ₹145 on NSE. Post-listing profit-taking triggered a slight dip in momentum.
By 10:30 AM, after the morning trade, shares were quoting at ₹41.09, delivering IPO investors a 78.65% gain so far.BCCL's ₹1,071.11 crore IPO opened for subscription from January 9 to 13. It garnered stellar investor response, achieving 143.85 times overall subscription.
The Qualified Institutional Buyers (QIB) portion (excluding anchors) was subscribed 310.81 times. Non-Institutional Investors (NII) reserved portion saw 240.49 times subscription. Retail investors' portion was subscribed 49.37 times, employees' portion 5.17 times, and shareholders' portion 87.20 times.
Under the IPO, 46.57 crore shares of ₹10 face value were offered for sale via the offer-for-sale window.Examining the company's financials, claims in the Draft Red Herring Prospectus (DRHP) filed with capital markets regulator SEBI reveal fluctuations in its health.
In fiscal 2022-23, BCCL posted a net profit of ₹664.78 crore, which rose to ₹1,564.46 crore in fiscal 2023-24. Fiscal 2024-25 saw a dip to ₹1,240.19 crore.
In the first half of the current fiscal—from April to September 30, 2025—the company has recorded ₹123.88 crore in net profit.Revenue showed modest ups and downs during this period. Fiscal 2022-23 revenue totaled ₹13,018.57 crore, climbing to ₹14,652.53 crore in 2023-24 before easing slightly to ₹14,401.63 crore in 2024-25.
In the current fiscal's first half—from April to September 30, 2025—revenue reached ₹6,311.51 crore.Reserves and surplus also grew over this span. They stood at ₹664.72 crore at the end of fiscal 2023-24, rising to ₹1,805.73 crore in 2024-25. By September 30, 2025, they were at ₹1,006.52 crore. On debt, the company carried ₹1,559.13 crore as of September 30, 2025.
EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) was ₹891.31 crore in 2022-23, surging to ₹2,493.89 crore in 2023-24. It moderated to ₹2,356.06 crore in 2024-25 and stood at ₹459.93 crore by September 30, 2025.
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Hindusthan Samachar / Jun Sarkar
