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Mahanadi Coalfields Limited
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Registered Details

MAHANADI COALFIELDS LIMITED

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Odisha ›

Mining & Quarrying ›

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Updated: 08 Jun 2026

Mahanadi Coalfields Limited is a coal mining company engaged in the extraction and production of coal in India. It operates coal mines in the Mahanadi Valley coalfields, offering a range of services including coal supply for power generation and other industries, ensuring the availability of this key resource for economic development.

Mahanadi Coalfields Limited, is an unlisted private company incorporated on 03 April, 1992. It is classified as a Government of India company and is located in , Odisha. It's authorized share capital is INR 1,600.00 cr and the total paid-up capital is INR 1,323.67 cr.

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Industry and products

Mining and Quarrying

Gas & Coal, Oil

Company size

Auth Capital

₹ 1,600.0 Cr

Paidup Capital

₹ 1,323.7 Cr

Revenue

₹ >5000 cr

Key Metrics

** All rupee values in INR crores. Based on March 2025 numbers.

Total Revenue

-1.67%

₹ 28,637.9

EBITDA

-6.97%

₹ 13,642.3

Net Profit

-8.63%

₹ 10,823.3

Networth

13.49%

₹ 18,278.5

Borrowings

-15.19%

₹ 3.4

Assets

5.73%

₹ 53,494.9

Gross Margin

1.17

98.2 %

Operating Margin

-3.39

50.6 %

Net Profit Margin

-2.88

37.8 %

Return on Equity

-14.34

59.2 %

ROCE

-6.23

36.2 %

Debt to Equity

0.0

Sales

Mar 2025

Net worth

Mar 2025

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Locations

India (18)

State	Type	Address

Locations on Map

People

Designation	Name	DIN/PAN	Tenure
Whole-time Director	Keshav Rao	08651284	7 years
Whole-time Director	Ajit Kumar Behura	09712877	4 years
Whole-time Director	Jugal Kumar Borah	09632444	4 years
Nominee Director	Mukesh Choudhary	07532479	4 years
Managing Director	Uday Anantrao Kaole	09715213	3 years
Director	Dayashankar Chandrashekhar Tiwari	07520830	3 years
Director	Rajesh Kumar Verma	10218914	3 years
Nominee Director	Sanjiv Kumar Kassi	07721514	4 years

Financial Highlights

** All numbers in INR crores

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales	16,492.3	21,812.2	31,076.9	27,161.4	26,962.1
Operating profit	8,918.1	11,063.2	17,835.8	14,663.9	13,642.3
Net profit	6,872.4	8,480.5	13,475.2	11,845.4	10,823.3
Gross margin	95.8	94.1	95.4	97.0	98.2
Operating margin	54.1	50.7	57.4	54.0	50.6
Net margin	39.2	36.9	41.2	40.7	37.8
Networth	5,533.0	8,212.5	13,308.0	16,106.3	18,278.5
Borrowings	5.0	4.9	4.6	4.0	3.4
Assets	33,004.6	40,390.6	48,577.7	50,593.4	53,494.9
Debt to equity	0.0	0.0	0.0	0.0	0.0
Current ratio	2.6	2.1	2.0	2.0	1.9
ROE	124.2	103.3	101.3	73.5	59.2
Days payable	136.0	419.0	404.0	701.0	1,354.0
WC days	270.0	218.0	174.0	182.0	182.0

Margins

Gross margin

Operating margin

Net margin

Balance Sheet

Standalone

Consolidated

₹

** All numbers in INR crores

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	661.8	661.8	661.8	1,323.7	1,323.7
Reserves	4,871.2	7,550.7	12,646.2	14,782.6	16,954.9
Borrowings +	5.0	4.9	4.6	4.0	3.4
Long term borrowings	5.0	4.3	3.9	3.3	2.7
Short term borrowings	-	0.6	0.7	0.7	0.7
Trade payables +	258.1	1,466.3	1,591.3	1,572.2	1,843.0
Days payable	136.0	419.0	404.0	701.0	1,354.0
Other liabilities +	27,208.5	30,706.8	33,673.8	32,911.0	33,370.0
Other non-current liabilities	19,776.7	20,545.5	20,361.6	21,169.1	21,035.4
Other current liabilities	7,431.8	10,161.3	13,312.2	11,741.9	12,334.6
Total liabilities	33,004.6	40,390.6	48,577.7	50,593.4	53,494.9
Fixed Assets +	10,455.2	13,297.2	15,631.7	18,752.9	21,263.6
Tangible assets	8,227.3	9,938.4	11,306.9	13,774.1	16,358.6
CWIP	2,223.0	3,352.5	4,302.1	4,960.1	4,889.9
Intangible assets	4.8	6.4	22.8	18.8	15.1
LT loans and advances	126.3	1.2	1.2	1.7	2.7
Other non-current assets	2,536.1	2,410.1	3,263.0	4,966.8	4,594.4
Current assets +	19,887.1	24,682.1	29,681.8	26,872.0	27,634.2
Inventories	1,103.5	988.2	985.1	1,279.2	1,880.2
Trade receivables	1,292.6	1,040.9	1,636.9	2,146.6	2,669.3
Cash and cash equivalents	1,010.5	357.1	71.5	794.6	2,088.8
ST loans and advances	500.0	-	-	-	-
Other current assets	15,980.4	22,295.9	26,988.2	22,651.6	20,995.9
Total assets	33,004.6	40,390.6	48,577.7	50,593.4	53,494.9

Percentage of assets	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	2.01	1.64	1.36	2.62	2.47
Reserves	14.76	18.69	26.03	29.22	31.69
Borrowings +	0.02	0.01	0.01	0.01	0.01
Long term borrowings	0.02	0.01	0.01	0.01	0.0
Short term borrowings	0.0	0.0	0.0	0.0	0.0
Trade payables	0.78	3.63	3.28	3.11	3.45
Other liabilities +	82.44	76.02	69.32	65.05	62.38
Other non-current liabilities	59.92	50.87	41.92	41.84	39.32
Other current liabilities	22.52	25.16	27.4	23.21	23.06
Total liabilities
Fixed Assets +	31.68	32.92	32.18	37.07	39.75
Tangible assets	24.93	24.61	23.28	27.23	30.58
CWIP	6.74	8.3	8.86	9.8	9.14
Intangible assets	0.01	0.02	0.05	0.04	0.03
LT loans and advances	0.38	0.0	0.0	0.0	0.0
Other non-current assets	7.68	5.97	6.72	9.82	8.59
Current assets +	60.26	61.11	61.1	53.11	51.66
Inventories	3.34	2.45	2.03	2.53	3.51
Trade receivables	3.92	2.58	3.37	4.24	4.99
Cash and cash equivalents	3.06	0.88	0.15	1.57	3.9
ST loans and advances	1.51	0.0	0.0	0.0	0.0
Other current assets	48.42	55.2	55.56	44.77	39.25
Total assets

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	661.8	661.8	661.8	1,323.7	1,323.7
Reserves	4,894.9	7,553.7	12,637.1	14,854.2	17,028.3
Borrowings +	5.0	4.9	4.6	4.0	3.4
Long term borrowings	5.0	4.3	3.9	3.3	2.7
Short term borrowings	-	0.6	0.7	0.7	0.7
Trade payables +	258.1	1,466.4	1,591.6	1,571.3	1,852.5
Days payable	136.0	419.0	404.0	700.0	1,361.0
Other liabilities +	27,225.4	30,722.9	33,752.3	32,934.6	33,382.6
Other non-current liabilities	19,776.7	20,545.5	20,361.6	21,171.5	21,035.7
Other current liabilities	7,448.7	10,177.4	13,390.7	11,763.1	12,347.0
Total liabilities	33,045.3	40,409.8	48,647.5	50,687.8	53,590.5
Fixed Assets +	10,571.0	13,482.8	15,935.3	19,057.2	21,567.2
Tangible assets	8,227.6	9,943.6	11,312.1	13,779.3	16,363.7
CWIP	2,338.6	3,532.8	4,600.4	5,018.1	4,949.2
Intangible assets	4.8	6.4	22.8	259.8	254.3
LT loans and advances	126.3	1.2	1.2	1.7	2.7
Other non-current assets	2,428.4	2,302.5	3,186.8	4,674.5	4,298.6
Current assets +	19,919.5	24,623.3	29,524.2	26,954.4	27,722.0
Inventories	1,103.5	988.2	985.1	1,279.2	1,880.2
Trade receivables	1,292.6	1,040.9	1,636.9	2,160.3	2,676.1
Cash and cash equivalents	1,093.1	395.1	107.1	867.2	2,157.7
ST loans and advances	500.0	-	-	-	-
Other current assets	15,930.2	22,199.1	26,795.0	22,647.7	21,008.1
Total assets	33,045.3	40,409.8	48,647.5	50,687.8	53,590.5

Percentage of assets	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	2.0	1.64	1.36	2.61	2.47
Reserves	14.81	18.69	25.98	29.31	31.77
Borrowings +	0.02	0.01	0.01	0.01	0.01
Long term borrowings	0.02	0.01	0.01	0.01	0.0
Short term borrowings	0.0	0.0	0.0	0.0	0.0
Trade payables	0.78	3.63	3.27	3.1	3.46
Other liabilities +	82.39	76.03	69.38	64.98	62.29
Other non-current liabilities	59.85	50.84	41.86	41.77	39.25
Other current liabilities	22.54	25.19	27.53	23.21	23.04
Total liabilities
Fixed Assets +	31.99	33.37	32.76	37.6	40.24
Tangible assets	24.9	24.61	23.25	27.18	30.53
CWIP	7.08	8.74	9.46	9.9	9.24
Intangible assets	0.01	0.02	0.05	0.51	0.47
LT loans and advances	0.38	0.0	0.0	0.0	0.0
Other non-current assets	7.35	5.7	6.55	9.22	8.02
Current assets +	60.28	60.93	60.69	53.18	51.73
Inventories	3.34	2.45	2.02	2.52	3.51
Trade receivables	3.91	2.58	3.36	4.26	4.99
Cash and cash equivalents	3.31	0.98	0.22	1.71	4.03
ST loans and advances	1.51	0.0	0.0	0.0	0.0
Other current assets	48.21	54.93	55.08	44.68	39.2
Total assets

Total assets

Profit & Loss

Standalone

Consolidated

₹

** All numbers in INR crores

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales +	16,492.3	21,812.2	31,076.9	27,161.4	26,962.1
Sales growth %	4.31	32.26	42.47	-12.6	-0.73
Expenses +	8,215.2	11,534.0	14,183.1	13,531.3	14,479.2
Cost of goods	694.0	1,277.2	1,438.4	818.8	496.7
Employee cost	3,218.7	3,619.7	4,513.2	4,549.3	4,492.1
Other costs	3,661.5	5,852.2	7,289.5	7,129.4	8,331.0
Operating profit +	8,918.1	11,063.2	17,835.8	14,663.9	13,642.3
Operating margin %	54.1	50.7	57.4	54.0	50.6
Other income	1,039.7	1,184.2	1,599.2	1,963.0	1,675.8
Interest	68.4	61.1	81.1	66.8	71.2
Depreciation	572.6	723.9	860.9	967.0	1,088.2
Exceptional items	-	-	-	-	-
Profit before tax	9,316.8	11,462.4	18,493.0	15,593.1	14,158.8
Tax	2,444.4	2,981.9	5,017.8	3,747.7	3,335.5
Profit - disc. ops	-	-	-	-	-
Net profit	6,872.4	8,480.5	13,475.2	11,845.4	10,823.3
Net margin %	39.2	36.9	41.2	40.7	37.8

Precentage of total income	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales	94.07	94.85	95.11	93.26	94.15
Expenses +	46.86	50.16	43.41	46.46	50.56
Cost of goods	3.96	5.55	4.4	2.81	1.73
Employee cost	18.36	15.74	13.81	15.62	15.69
Other costs	20.88	25.45	22.31	24.48	29.09
Operating profit	50.87	48.11	54.58	50.35	47.64
Other income	5.93	5.15	4.89	6.74	5.85
Interest	0.39	0.27	0.25	0.23	0.25
Depreciation	3.27	3.15	2.63	3.32	3.8
Exceptional items	0.0	0.0	0.0	0.0	0.0
Profit before tax	53.14	49.84	56.59	53.54	49.44
Tax	13.94	12.97	15.36	12.87	11.65
Profit - disc. ops	0.0	0.0	0.0	0.0	0.0
Net profit	39.2	36.88	41.24	40.67	37.79

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales +	16,492.3	21,812.2	31,076.9	27,182.3	26,986.2
Sales growth %	4.31	32.26	42.47	-12.53	-0.72
Expenses +	8,217.1	11,535.1	14,184.1	13,548.4	14,500.3
Cost of goods	694.0	1,277.2	1,438.4	818.8	496.7
Employee cost	3,219.8	3,620.3	4,513.6	4,551.1	4,493.5
Other costs	3,662.3	5,852.7	7,290.1	7,131.4	8,340.6
Operating profit +	8,916.2	11,062.1	17,834.9	14,680.9	13,655.5
Operating margin %	54.1	50.7	57.4	54.0	50.6
Other income	1,039.4	1,153.9	1,588.2	1,956.0	1,675.6
Interest	68.4	61.1	81.1	68.0	71.2
Depreciation	572.7	723.9	860.9	979.0	1,098.3
Exceptional items	-	-	-	-	-
Profit before tax	9,314.6	11,431.0	18,481.1	15,589.9	14,161.6
Tax	2,444.9	2,982.2	5,017.9	3,748.4	3,336.4
Profit - disc. ops	-	-	-	-	-
Net profit	6,869.7	8,448.8	13,463.2	11,841.5	10,825.1
Net margin %	39.2	36.8	41.2	40.6	37.8

Precentage of total income	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales	94.07	94.98	95.14	93.29	94.15
Expenses +	46.87	50.23	43.42	46.5	50.59
Cost of goods	3.96	5.56	4.4	2.81	1.73
Employee cost	18.37	15.76	13.82	15.62	15.68
Other costs	20.89	25.48	22.32	24.47	29.1
Operating profit	50.86	48.17	54.6	50.38	47.64
Other income	5.93	5.02	4.86	6.71	5.85
Interest	0.39	0.27	0.25	0.23	0.25
Depreciation	3.27	3.15	2.64	3.36	3.83
Exceptional items	0.0	0.0	0.0	0.0	0.0
Profit before tax	53.13	49.77	56.58	53.5	49.41
Tax	13.95	12.99	15.36	12.86	11.64
Profit - disc. ops	0.0	0.0	0.0	0.0	0.0
Net profit	39.18	36.79	41.22	40.64	37.77

Revenue from operations

Ratios

Standalone

Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Solvency +
Total Debt/Equity	0.0	0.0	0.0	0.0	0.0
Net Debt/Equity	0.0	0.0	0.0	0.0	0.0
Total Debt/Assets	0.0	0.0	0.0	0.0	0.0
Total Assets/Equity	6.0	4.9	3.6	3.1	2.9
Liquidity +
Current Ratio	2.6	2.1	2.0	2.0	1.9
Quick Ratio	2.4	2.0	1.9	1.9	1.8
Interest Coverage	130.4	181.0	219.9	219.4	191.6
Performance
Gross Margin	95.8	94.1	95.4	97.0	98.2
Operating Margin	54.1	50.7	57.4	54.0	50.6
Net Margin	39.2	36.9	41.2	40.7	37.8
Return +
Return on Equity	124.2	103.3	101.3	73.5	59.2
Pre-tax ROCE	36.8	39.2	55.8	42.4	36.2
Return on Assets	20.8	21.0	27.7	23.4	20.2
Pre-tax ROIC	150.8	125.9	127.5	85.0	68.7
Efficiency +
Days Payable	136.0	419.0	404.0	701.0	1,354.0
Days Inventory	580.0	282.0	250.0	570.0	1,382.0
Days Receivable	29.0	17.0	19.0	29.0	36.0
Fixed Asset Turnover	1.6	1.6	2.0	1.4	1.3
Total Asset Turnover	0.5	0.5	0.6	0.5	0.5
Working Capital
Cash Conversion Cycle	473.0	-120.0	-135.0	-102.0	64.0
Working Capital Days	270.0	218.0	174.0	182.0	182.0

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Solvency +
Total Debt/Equity	0.0	0.0	0.0	0.0	0.0
Net Debt/Equity	0.0	0.0	0.0	0.0	0.0
Total Debt/Assets	0.0	0.0	0.0	0.0	0.0
Total Assets/Equity	6.0	4.9	3.7	3.1	2.9
Liquidity +
Current Ratio	2.6	2.1	2.0	2.0	1.9
Quick Ratio	2.4	2.0	1.9	1.9	1.8
Interest Coverage	130.4	181.0	219.9	215.9	191.7
Performance
Gross Margin	95.8	94.1	95.4	97.0	98.2
Operating Margin	54.1	50.7	57.4	54.0	50.6
Net Margin	39.2	36.8	41.2	40.6	37.8
Return +
Return on Equity	123.6	102.8	101.2	73.2	59.0
Pre-tax ROCE	36.6	39.1	55.7	41.9	35.8
Return on Assets	20.8	20.9	27.7	23.4	20.2
Pre-tax ROIC	150.2	125.8	127.6	84.7	68.4
Efficiency +
Days Payable	136.0	419.0	404.0	700.0	1,361.0
Days Inventory	580.0	282.0	250.0	570.0	1,382.0
Days Receivable	29.0	17.0	19.0	29.0	36.0
Fixed Asset Turnover	1.6	1.6	1.9	1.4	1.2
Total Asset Turnover	0.5	0.5	0.6	0.5	0.5
Working Capital
Cash Conversion Cycle	473.0	-120.0	-135.0	-101.0	57.0
Working Capital Days	270.0	217.0	171.0	183.0	183.0

Ratios

Current ratio

Debt/equity ratio

Charges on assets

Bank wise

Charges

State Bank of India

No. of Loans: 1

Total Amount : 430.0 cr

Charge Holder	Amount	Date of creation/modification
State Bank of India	430.0 cr	28 Dec, 2021

Charges

State Bank of India

Company Network

Companies connected through Directors

Name	Status	Paid up Capital	Common Directors	Address
BHARAT COAL GASIFICATION AND CHEMICALS LIMITED	Active	1.0 L	1
BHARAT COKING COAL LIMITED	Active	4,657.0 Cr	1	Jharkhand
WESTERN COALFIELDS LIMITED	Active	297.1 Cr	1	Maharashtra
COAL INDIA LTD GOVT OF INDIA UNDERTAKING	Active	6,162.7 Cr	1	West Bengal
CIL RAJASTHAN AKSHAY URJA LIMITED	Active	10.0 L	1	Rajasthan
THE SINGARENI COLLIERIES COMPANY LIMITED	Active	1,733.2 Cr	1	Telangana
MAHANADI BASIN POWER LIMITED	Active	5.0 L	1	Orissa
MAHANADI COAL RAILWAY LIMITED	Active	90.0 Cr	2	Odisha
MNH SHAKTI LIMITED	Active	35.1 Cr	1	Orissa
MJSJ COAL LIMITED	Active	95.1 Cr	1	Orissa

Subsidiary Companies

Name	State / Country	Incorporation Year	Paidup Capital
MJSJ COAL LIMITED	Orissa	2008	₹ 95.1 Cr
MNH SHAKTI LIMITED	Orissa	2008	₹ 35.1 Cr
MAHANADI COAL RAILWAY LIMITED	Odisha	2015	₹ 90.0 Cr
MAHANADI BASIN POWER LIMITED	Orissa	2011	₹ 5.0 L

Tofler Score

Very Good

Poor

Fair

Good

Very Good

Excellent

Risk

Severe Risk

No risks identified

Moderate Risk

RECEIVABLES DETERIORATING
PAYABLES DETERIORATING

Low Risk

HIGH INVENTORY
ROCE DETERIORATING

About Tofler Score

Tofler Score measures the quality of performance and integrity of a company. It is dependent on three key factors - Sustainability, Governance, and Growth.

CIN

U10102OR1992GOI003038

Incorporation

1992, 34.4 years

Company Email

cosecymcl@gmail.com

Paid up Capital

₹ 1,323.7 Cr

Authorised Capital

₹ 1,600.0 Cr

AGM

Aug 2025

Type

Private

Union Government Company

FAQ - MAHANADI COALFIELDS LIMITED

What is the incorporation date of MAHANADI COALFIELDS LIMITED?

The incorporation date of MAHANADI COALFIELDS LIMITED is 03 April, 1992

What is the authorized share capital of MAHANADI COALFIELDS LIMITED?

The authorized share capital of MAHANADI COALFIELDS LIMITED is INR ₹ 1,600.0 Cr.

What is the paid-up capital of MAHANADI COALFIELDS LIMITED?

The paid-up capital of MAHANADI COALFIELDS LIMITED is INR ₹ 1,323.7 Cr.

What is the registered address of MAHANADI COALFIELDS LIMITED?

The registered address of MAHANADI COALFIELDS LIMITED is JAGRUTI VIHAR BURLA, SAMBALPUR, Orissa, India, 768020 - 768020

What is the CIN number of MAHANADI COALFIELDS LIMITED?

The CIN number of MAHANADI COALFIELDS LIMITED is U10102OR1992GOI003038.

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MAHANADI COALFIELDS LIMITED

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