Engineering Consultancy · Founded 1975 · BSE 544739 · NSE CMPDI · ISIN INE05HV01027
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1. Business Overview
Central Mine Planning & Design Institute Ltd. (CMPDI) is a premier engineering consultancy company based in India, primarily focused on the mining sector. Its core business revolves around providing comprehensive consultancy services for various stages of mining projects, particularly in coal and non-coal minerals. This includes geological exploration, detailed project reports (DPRs), mine planning and design, infrastructure planning, environmental impact assessments (EIAs), environmental management plans (EMPs), hydrological studies, geotechnical investigations, and project management. CMPDI makes money by charging fees for its specialized technical services, reports, and project execution support to its clients, who are typically large mining companies, government entities, and public sector undertakings.
2. Key Segments / Revenue Mix
While specific revenue contribution breakdowns are not publicly disclosed, CMPDI's services can be broadly segmented as:
Exploration Services: Geophysical studies, drilling, geological modeling, resource assessment for various minerals.
Mine Planning & Design: Conceptual studies, feasibility reports, detailed project reports (DPRs) for opencast and underground mines.
Environmental & Social Management: Environmental impact assessments (EIAs), environmental management plans (EMPs), social impact assessments, reclamation and rehabilitation planning.
Infrastructure Design: Design of mine infrastructure, townships, roads, and material handling systems.
Geotechnical & Hydrological Services: Slope stability analysis, hydrogeological studies, water management plans.
Project Management & Monitoring: Consultancy for project implementation, monitoring, and quality control.
Given its name and lineage, a significant portion of its revenue is likely derived from coal-related projects, especially for its parent company, Coal India Limited (CIL).
3. Industry & Positioning
CMPDI operates within the specialized engineering consultancy sector for mining, which is a niche but critical component of the overall infrastructure and energy industry. The Indian mining consultancy market is characterized by a mix of government-owned entities, large domestic private players, and international firms. CMPDI, as a subsidiary of Coal India Limited (CIL) and a 'Central' institute, holds a dominant and strategic position, particularly in the coal mining sector in India. It acts as a principal consultant for CIL and other public sector undertakings, benefiting from its deep understanding of Indian geology, regulations, and mining conditions. It competes with private sector consultants like MECL, MECON, and other smaller specialized firms, as well as global engineering giants for large, complex, or multi-mineral projects.
4. Competitive Advantage (Moat)
Government Backing & Strategic Importance: As a Public Sector Undertaking (PSU) and a key subsidiary of Coal India Limited, CMPDI often receives preferential consideration for projects from government entities and PSUs, especially in strategic sectors like coal.
Deep Domain Expertise & Data Repository: Decades of experience in diverse Indian geological conditions and mining environments have built unparalleled expertise and a vast repository of exploration and mining data, especially for Indian coalfields.
Regulatory Understanding: Intimate knowledge and experience with the complex Indian mining laws, environmental regulations, and approval processes.
Scale and Resources: Access to significant human capital, technical infrastructure, and financial resources as a large government-backed entity.
Brand & Trust: Its "Central" designation and long history lend significant credibility and trust, particularly with government stakeholders.
5. Growth Drivers
India's Energy & Infrastructure Demand: Continued growth in India's economy will drive demand for electricity, steel, and other minerals, necessitating new mining projects and expansion of existing ones.
Exploration Push: Government initiatives to increase domestic mineral production and reduce import dependence will drive demand for exploration services.
Technological Advancement in Mining: Adoption of modern mining technologies, automation, and digital solutions will require specialized planning and design services.
Environmental Compliance: Increasing scrutiny and stricter environmental regulations will drive demand for comprehensive environmental impact assessments, management plans, and sustainable mining practices.
Diversification: Potential for expansion into consultancy for non-coal minerals, non-mining infrastructure, or renewable energy-related projects.
6. Risks
Regulatory & Policy Changes: Any significant changes in mining policies, land acquisition laws, environmental regulations, or permit processes can impact project timelines and feasibility.
Commodity Price Volatility: While a service provider, sustained downturns in coal and other mineral prices can reduce investment by mining companies in new projects or expansions.
Environmental & Social Opposition: Increasing public awareness and activism regarding environmental and social impacts of mining projects can lead to delays or cancellations.
Dependency on Public Sector: Over-reliance on projects from Coal India Limited and other government entities could pose a risk if their investment priorities or budgets change.
Competition: Increased competition from private domestic and international engineering consultants, especially as the mining sector opens up.
Technology Obsolescence: The need for continuous investment in R&D, software, and human capital to stay competitive with evolving mining technologies.
7. Management & Ownership
CMPDI is a Public Sector Undertaking (PSU) under the Ministry of Coal, Government of India, and is a wholly-owned subsidiary of Coal India Limited (CIL), the world's largest coal producer. Its management team typically comprises experienced technocrats, mining engineers, and administrators, often deputed from CIL or other government services, bringing deep technical expertise and an understanding of public sector governance. The ownership structure ensures strategic alignment with national energy security goals and a stable client base within the public sector.
8. Outlook
CMPDI is positioned as a critical player in India's mining landscape, particularly for coal. Its deep institutional knowledge, extensive data, and strong government backing provide a robust foundation for continued operations. India's growing energy demand and emphasis on domestic mineral production suggest a steady pipeline of projects for planning and design. However, the company faces challenges from increasing environmental scrutiny, the long-term global transition away from coal, and the need to adapt to evolving technologies and competitive pressures from private players. Diversification into other minerals or related infrastructure services, coupled with continued technological upgrades, will be key for long-term growth and resilience.
Price goes above X
Price falls below X
PE goes above X
PE falls below X
| #(Fig in Cr.) | Mar 2025 | Mar 2026 |
|---|---|---|
| Net Sales | 740 | 827 |
| Other Income | 38 | 27 |
| Total Income | 778 | 854 |
| Total Expenditure | 407 | 589 |
| Operating Profit | 371 | 265 |
| Interest | 0 | 0 |
| Depreciation | 8 | 9 |
| Exceptional Income / Expenses | 0 | 0 |
| Profit Before Tax | 363 | 255 |
| Provision for Tax | 86 | 67 |
| Profit After Tax | 277 | 188 |
| Adjustments | 0 | 0 |
| Profit After Adjustments | 277 | 188 |
| Adjusted Earnings Per Share | 0 | 2.6 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 727 | 759 | 931 | 1155 | 1275 | 1381 | 1489 | 1208 | 1386 | 1733 | 2103 | 1567 |
| Other Income | 6 | 28 | 15 | 15 | 13 | 22 | 20 | 30 | 13 | 37 | 75 | 65 |
| Total Income | 732 | 787 | 946 | 1170 | 1288 | 1403 | 1509 | 1238 | 1399 | 1770 | 2178 | 1632 |
| Total Expenditure | 682 | 737 | 860 | 1028 | 1000 | 1072 | 1074 | 849 | 1003 | 1006 | 1262 | 996 |
| Operating Profit | 50 | 51 | 86 | 141 | 288 | 331 | 435 | 389 | 396 | 764 | 916 | 636 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 10 | 12 | 21 | 20 | 24 | 18 | 20 | 23 | 29 | 32 | 33 | 17 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 39 | 38 | 65 | 121 | 264 | 313 | 414 | 366 | 367 | 733 | 882 | 618 |
| Provision for Tax | 14 | 14 | 25 | 40 | 91 | 119 | 98 | 84 | 70 | 230 | 215 | 153 |
| Profit After Tax | 25 | 24 | 40 | 81 | 173 | 193 | 317 | 282 | 297 | 503 | 667 | 465 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 25 | 24 | 40 | 81 | 173 | 193 | 317 | 282 | 297 | 503 | 667 | 465 |
| Adjusted Earnings Per Share | 0.4 | 0.3 | 0.6 | 1.1 | 2.4 | 2.7 | 4.4 | 4 | 4.2 | 7 | 9.3 | 2.6 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 21% | 20% | 9% | 11% |
| Operating Profit CAGR | 20% | 33% | 23% | 34% |
| PAT CAGR | 33% | 33% | 28% | 39% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | NA% | NA% | NA% | NA% |
| ROE Average | 37% | 33% | 35% | 30% |
| ROCE Average | 49% | 45% | 47% | 43% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 178 | 215 | 254 | 335 | 467 | 589 | 802 | 1015 | 1218 | 1592 | 2042 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 119 | 145 | 158 | 177 | 187 | 251 | 222 | 101 | 45 | 85 | 66 |
| Total Current Liabilities | 609 | 612 | 602 | 858 | 711 | 502 | 618 | 510 | 599 | 478 | 553 |
| Total Liabilities | 907 | 973 | 1015 | 1369 | 1364 | 1342 | 1642 | 1626 | 1862 | 2154 | 2661 |
| Fixed Assets | 81 | 100 | 134 | 147 | 180 | 183 | 188 | 205 | 244 | 247 | 247 |
| Other Non-Current Assets | 34 | 73 | 61 | 56 | 55 | 25 | 40 | 47 | 19 | 17 | 13 |
| Total Current Assets | 792 | 799 | 820 | 1166 | 1129 | 1134 | 1414 | 1374 | 1599 | 1890 | 2401 |
| Total Assets | 907 | 973 | 1015 | 1369 | 1364 | 1342 | 1642 | 1626 | 1862 | 2154 | 2661 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 109 | 86 | 124 | 77 | 179 | 136 | 102 | 71 | 161 | 380 | 267 |
| Cash Flow from Operating Activities | 0 | 82 | -24 | 144 | 6 | 178 | 83 | 192 | 399 | 246 | 671 |
| Cash Flow from Investing Activities | -21 | -57 | -25 | -18 | -12 | -8 | -18 | -12 | -86 | -240 | -457 |
| Cash Flow from Financing Activities | -3 | 13 | 2 | -24 | -37 | -65 | -96 | -90 | -94 | -119 | -201 |
| Net Cash Inflow / Outflow | -23 | 38 | -47 | 102 | -44 | 106 | -32 | 90 | 219 | -113 | 13 |
| Closing Cash & Cash Equivalent | 86 | 124 | 77 | 179 | 136 | 242 | 71 | 161 | 380 | 267 | 280 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.35 | 0.34 | 0.56 | 1.13 | 2.43 | 2.71 | 4.44 | 3.95 | 4.15 | 7.05 | 9.34 |
| CEPS(Rs) | 0.5 | 0.51 | 0.85 | 1.42 | 2.76 | 2.97 | 4.72 | 4.27 | 4.56 | 7.49 | 9.81 |
| DPS(Rs) | 0 | 0 | 0 | 0.34 | 0.36 | 0.81 | 1.33 | 0.85 | 1.25 | 2.11 | 2.1 |
| Book NAV/Share(Rs) | 2.49 | 3.01 | 3.56 | 4.69 | 6.54 | 8.25 | 11.24 | 14.21 | 17.05 | 22.29 | 28.6 |
| Core EBITDA Margin(%) | 5.44 | 2.58 | 6.59 | 9.32 | 18.26 | 19 | 23.66 | 25.19 | 23.38 | 35.61 | 33.93 |
| EBIT Margin(%) | 4.85 | 4.37 | 6.06 | 8.93 | 17.55 | 19.2 | 23.64 | 25.67 | 22.41 | 35.9 | 35.6 |
| Pre Tax Margin(%) | 4.82 | 4.34 | 6.02 | 8.91 | 17.54 | 19.18 | 23.63 | 25.66 | 22.41 | 35.9 | 35.6 |
| PAT Margin (%) | 3.07 | 2.73 | 3.7 | 5.96 | 11.52 | 11.87 | 18.07 | 19.78 | 18.11 | 24.65 | 26.91 |
| Cash Profit Margin (%) | 4.33 | 4.15 | 5.67 | 7.46 | 13.1 | 13 | 19.23 | 21.39 | 19.86 | 26.2 | 28.26 |
| ROA(%) | 2.91 | 2.55 | 3.99 | 6.78 | 12.68 | 14.29 | 21.24 | 17.26 | 17.01 | 25.07 | 27.7 |
| ROE(%) | 15 | 12.19 | 16.88 | 27.45 | 43.24 | 36.64 | 45.57 | 31.06 | 26.58 | 35.83 | 36.71 |
| ROCE(%) | 23.73 | 19.49 | 27.65 | 41.11 | 65.88 | 59.26 | 59.61 | 40.3 | 32.89 | 52.18 | 48.56 |
| Receivable days | 97.16 | 100.83 | 98 | 126.39 | 144.58 | 126.57 | 150.11 | 218.57 | 182.56 | 161.53 | 141.99 |
| Inventory Days | 2.65 | 2.81 | 2.86 | 2.4 | 2.2 | 2.49 | 2.43 | 3.06 | 3.24 | 2.71 | 2.07 |
| Payable days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Price/Book(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | -0.09 | -0.14 | -0.06 | -0.12 | -0.08 | -0.15 | -0.03 | -0.05 | -0.24 | -0.26 | -0.45 |
| EV/Core EBITDA(x) | -1.34 | -2.08 | -0.67 | -1 | -0.34 | -0.61 | -0.12 | -0.15 | -0.83 | -0.59 | -1.02 |
| Net Sales Growth(%) | 12.25 | 4.48 | 22.55 | 24.1 | 10.38 | 8.38 | 7.77 | -18.82 | 14.7 | 25.01 | 21.36 |
| EBIT Growth(%) | 13.79 | -3.26 | 69.42 | 86.43 | 118.02 | 18.51 | 32.55 | -11.71 | 0.25 | 99.68 | 20.38 |
| PAT Growth(%) | 27.95 | -4.27 | 65.37 | 103.91 | 114.36 | 11.61 | 63.9 | -10.99 | 5.15 | 69.63 | 32.53 |
| EPS Growth(%) | 27.95 | -4.28 | 65.39 | 103.91 | 114.36 | 11.61 | 63.9 | -10.99 | 5.15 | 69.63 | 32.53 |
| Debt/Equity(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Current Ratio(x) | 1.3 | 1.31 | 1.36 | 1.36 | 1.59 | 2.26 | 2.29 | 2.69 | 2.67 | 3.96 | 4.34 |
| Quick Ratio(x) | 1.29 | 1.29 | 1.35 | 1.35 | 1.57 | 2.24 | 2.27 | 2.67 | 2.64 | 3.93 | 4.31 |
| Interest Cover(x) | 136.62 | 127.77 | 180.39 | 484.28 | 1885.43 | 1564.1 | 2591.56 | 5230.14 | 4078.22 | 0 | 9802.56 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Dec 2025 | Mar 2026 |
|---|---|---|
| Promoter | 0 | 85 |
| FII | 0 | 1.21 |
| DII | 0 | 11.21 |
| Public | 0 | 2.57 |
| Others | 0 | 0 |
| Total | 0 | 100 |
| # | Dec 2025 | Mar 2026 |
|---|---|---|
| Promoter | 0 | 60.69 |
| FII | 0 | 0.87 |
| DII | 0 | 8.01 |
| Public | 0 | 1.84 |
| Others | 0 | 0 |
| Total | 0 | 71.4 |
| # | Dec 2025 | Mar 2026 |
|---|---|---|
| Promoter | 0 | 85 |
| FII | 0 | 1.21 |
| DII | 0 | 11.21 |
| Public | 0 | 15 |
| Others | 0 | 0 |
| Total | 100 | 100 |
| # | Dec 2025 | Mar 2026 |
|---|---|---|
| Promoter | 0 | 60.69 |
| FII | 0 | 0.87 |
| DII | 0 | 8.01 |
| Public | 0 | 10.71 |
| Others | 0 | 0 |
| Total | 0 | 71.4 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +21% | +20% | +9% | +11% |
| Operating Profit CAGR | +20% | +33% | +23% | +34% |
| PAT CAGR | +33% | +33% | +28% | +39% |
| Share Price CAGR | — | — | — | — |
| ROE Average | +37% | +33% | +35% | +30% |
| ROCE Average | +49% | +45% | +47% | +43% |
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