Bharat Coking Coal shares jumped 7.5% to ₹37.70 on the BSE on Friday as global coking coal prices surged more than 18% over the past two sessions. The commodity gained 10% on Friday alone and moved close to two-year high levels, according to reports from The Economic Times. The sharp rise in coking coal prices comes shortly after the CEO of Australian mining major BHP said that the 'best years' for coking coal 'are potentially still ahead', bringing renewed focus on the outlook for the key steelmaking raw material.
Premium hard coking coal prices have risen 25% this year to average $236 per metric ton on a freight-on-board (FOB) Australia basis during the first seven months of 2026, as reported by Reuters. Prices have remained higher this year due to supply disruptions in Australia, a slower-than-expected ramp-up at new mines and price support from the conflict in the Middle East. More recently, prices have also been supported by a large accident at a coal mine in Shanxi, China. Coking coal is a key raw material used in steel production, making the sharp increase in global prices a key development for companies exposed to the commodity.
The company's revenue from operations fell around 4% year-on-year to ₹3,587 crore during Q1 of the ongoing financial year 2027, from ₹3,720 crore in the year-ago period, according to The Economic Times. Total expenses meanwhile rose around 5% YoY to ₹3,826 crore, while EBITDA was slashed around 81% YoY to ₹71.5 crore in Q1 FY27, from ₹373 crore in Q1 FY26. The sharp drop in first-quarter earnings came as production dropped over 27% YoY to 9.53 million tonnes, while offtake output reduced 14% YoY to 10.62 million tonnes. It missed its Q1 targets on both fronts.
After the blockbuster market debut, the shares of the company dropped 34% in around two months to hit a record low of ₹29.74 apiece in March this year, as reported by The Economic Times. The stock had, however, recovered around 16% since then. Bharat Coking Coal shares have fallen over 5% in one week and down 14% in one month, with the company currently having a market capitalisation of more than ₹16,383 crore. EBITDA margin plunged to 1.92%, while profit margin slipped to a negative 1.83% during the quarter which ended on June 30, 2026.
