Caliber Mining - IPO Report

Caliber Mining and Logistics Ltd. (CMLL) is an integrated contract mining and coal logistics company providing end-to-end services across overburden removal, coal extraction, loading and unloading, road transportation, rake loading, rail coordination and coal trading, positioning itself as a one-stop service provider.

The company operates under contract mining arrangements across Maharashtra, Madhya Pradesh and Chhattisgarh and primarily serves subsidiaries of Coal India Ltd. (CIL), namely Western Coalfields Limited (WCL) and Northern Coalfields Limited (NCL), which contributed approximately 85.1% of FY26 revenue, reflecting strong relationships with government-backed customers.

CMLL has a robust fleet of 1,911 vehicles, plants and machinery, including 883 tippers, 162 excavators and other mining equipment, supported by a workforce of over 5,500 employees, enabling efficient execution of large-scale mining and logistics contracts. The order book expanded from ₹5,668.3 crore as of March 31, 2026 to ₹9,550.9 crore as of May 15, 2026.

India's contract mining industry is expected to witness strong growth, with the market projected to reach ₹6.64 lakh crore by FY30, growing at a CAGR of 17.4% from FY25, supported by rising energy demand and Coal India Limited's (CIL) target to produce 1 billion tonnes of coal annually by FY27.