Coal India Moat Analysis: Score & Risks
Coal India Ltd.
A first-pass moat teardown of Coal India Ltd., built from single-pass filing evidence. Free note — provisional, and the full two-pass deep dive may revise it.
First-pass narrow read — primary edge in Cost Advantage. Provisional, single-pass evidence.
Coal India Ltd. scores 4.89 on MoatSCORE 6.0 — a narrow moat in Oil & Gas. This is a first-pass note: the dimensional read and the filing receipts below come from a single GFIP evidence pass, not the full two-pass deep corpus behind our flagship deep dives. Provisional — published free while the deep version is queued.
Seven dimensions of moat
Ordered by contribution. Each dimension carries a verified filing quote, graded [M] mechanism or [O] outcome.
“specific energy Consumption for CIL as a whole, during 2021-22 was 7.34 kWh/T as against 7.86 kWh/T during 2020-21 with an overall decrease of 6.61%.”
“Jan, the average e-auction premium was something like 54%, but in absolute terms, I think it's around INR2,700 per ton”
“Your company's capital expenditure of Rs. 15,400 crores in 2021-22 was the highest ever registering a growth of 15.94% compared to the CAPEX of Rs. 13,283 crores of FY21”
“In order to protect these intellectual assets and maintain their exclusivity, we file patent applications for various assets produced as a result of our research activities.”
“if we achieve some production of 630 to 640 and patch of about 700 types that will be the most practical thing”
“Evacuation facilities have historically constrained the growth”
D8 rating: ADEQUATE. Not part of the moat score — it governs the cost of equity and the fade window. First-pass; not yet deep-reviewed.
The barrier gate — first-pass
Effective barrier 5 — below 6, so the band is capped narrow. First-pass estimate.
Deep two-pass review. This draft rests on a single GFIP evidence pass; the full 10-year AR + concall corpus may move the read.
The barrier gate. A firmer replication or bypass estimate is the most likely thing to shift the band.
Adverse events. Any governance, regulatory or funding shock captured in D8 could re-rate the fade window.
Where this note fits. This company is one of 509 Indian companies we have scored for moat durability — 370 narrow, 126 narrow-trending-wide, none wide. Every score, dimension by dimension, is free in the Moat Screener.
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