MCC
MEDLEY CAPITAL CORPORATION
stock NYSE

**Public-source BCCL / BHARATCOAL investor update.**
This is not a routine “coal removal” report.
As reported by ***Hindustan, Dainik Jagran and Prabhat Khabar*** **on 04 July 2026, armed men allegedly reached the Gazlitand coal dump in the Angarpathra/Katras area at around 11:30 PM in** black Scorpio vehicles, threatened security personnel with pistols, assaulted them, snatched mobile phones, locked security personnel in a container, fired in the air, opened the main gate, and used **15–20 Hyva trucks and three JCB machines** to lift around **450 tonnes of coal** by about 4:30 AM. The reported value is around **₹45 lakh**.
The report also says live cartridges were found at the site and police said investigation was underway.
The important investor point is that this was reportedly **mined and stocked coal from a coal dump/stockyard**, not coal extracted by outsiders from an unmeasured seam.
If the report is accurate, this was an armed, organised, vehicle-assisted, multi-hour stockyard breach involving heavy equipment and multiple trucks.
I have not found any checked public report confirming that the armed persons were apprehended, that the JCBs/Hyvas were seized, or that the coal was recovered. That point should be treated carefully: **recovery, seizure and arrests are not confirmed in the checked public sources available to me.**
**Why should BHARATCOAL shareholders care?**
Because BCCL’s own prospectus positions the company as India’s largest coking coal producer in FY25, accounting for **58.50% of domestic coking coal production**, and says BCCL is the only source of prime coking coal in India. **When the listed company’s core product is reportedly taken from a stockyard after an armed breach, the issue is not only the ₹45 lakh value.** The issue is **inventory custody, stockyard security, dispatch control, contractor oversight, customer confidence and disclosure adequacy**.
The direct amount is small in financial-statement terms. ₹45 lakh = ₹0.45 crore. Against BCCL’s FY26 numbers, this is approximately:
**0.0033%** of FY26 revenue from operations of **₹13,644.78 crore**
**0.057%** of FY26 EBITDA of **₹785.38 crore**
**0.30%** of FY26 PBT of **₹149.18 crore**
**0.35%** of FY26 PAT of **₹128.28 crore**
**0.0025%** of market cap of about **₹18,246 crore** as per Screener’s 03 July close data.
On production quantity also, 450 tonnes is small by itself. It is **0.0013%** of FY26 production of **35.52 MT**, **0.0014%** of FY26 offtake of **33.05 MT**, and about **0.0048%** of FY26 closing raw coal stock of **9.41 MT**.
But the reported valuation is worth asking about. ₹45 lakh for 450 tonnes implies **₹10,000 per tonne**. BCCL’s FY26 average sales per tonne was **₹3,085.76**. Its FY26 raw coal average realisation was **₹2,809.61/tonne**, while washed coking coal realisation was **₹9,760.19/tonne**, with PCC at **₹10,666.90/tonne** and MCC at **₹8,649.15/tonne**. This does **not** prove the grade of the reported coal, because the checked news report does not clearly identify the coal grade. But the implied value makes grade, custody and reconciliation important questions.
**The operating backdrop is also not strong**. BCCL’s FY26 production fell from **40.50 MT to 35.52 MT**, down **12.30%**. Offtake fell from **38.26 MT to 33.05 MT**, down **13.62%**. Profit per tonne fell from **₹446.84 to ₹46.12**. Trade receivables days increased from **34 to 67**, and gross debtors rose from **₹2,218.10 crore to ₹3,024.97 crore**.
Q1 FY27 production disclosures also show weakness.
BCCL’s June 2026 exchange disclosure says June raw coal production was **2.29 MT**, down **11.8% YoY**, and April–June raw coal production was **6.56 MT**, down **27.5% YoY**. Coking coal production for April–June was **6.21 MT**, down **27.9% YoY**.
So I am not saying this ₹45 lakh incident alone changes earnings. It probably does not.
**The shareholder question is sharper:**
**How did armed persons** reportedly enter a coal dump, overpower security, bring in multiple Hyvas and JCBs, load coal for nearly five hours, and leave — with no checked public confirmation yet of recovery, seizure or arrests?
**The disclosure angle is also relevant.** BCCL’s materiality policy says the company must assess events under Regulation 30 and consider whether omission may cause discontinuity of public information, significant market reaction if later disclosed, or crosses value thresholds; the policy also refers to disclosures being appropriate and consistent with the facts of each event. I did not find a specific NSE/BSE/BCCL disclosure on the Gazlitand 450-tonne incident in the checked sources as of 05 July 2026, subject to further verification. BCCL’s IR page shows other Regulation 30 disclosures and production disclosures, but I did not find this incident listed there.
**For investors, the due-diligence questions are:**
1) Was the coal BCCL-owned stock, contractor-custody stock, or customer-linked stock?
2) What was the exact grade and reconciled quantity?
3) Was any coal recovered?
4) Were the Hyvas/JCBs identified or seized?
5) Were any accused persons arrested?
6) Was insurance or contractor liability invoked?
7) Did the incident affect dispatch, billing, customer supply, inventory, EBITDA, PAT or cash flow?
8) Has BCCL made, or does it plan to make, any exchange clarification?
This post is not making an independent finding beyond the newspaper report. Where the report alleges criminal conduct, I am treating it as a reported allegation only. The investor issue is limited to stockyard controls, inventory custody, security, materiality and disclosure.
Source line: *Hindustan*, 04 July 2026; attached Prabhat Khabar / Dainik Jagran / Hindustan / Dainik Bhaskar clippings; BCCL prospectus, FY26 performance presentation, June 2026 production disclosure, BCCL IR page and BCCL materiality policy.
Disclaimer: Not investment advice. No buy, sell, hold, short, entry, exit or averaging view. This is a public-source investor update for discussion among shareholders and market participants.

I’m loving my 2014 refurbished Xbox One I bought from GME for $150! I got a grip of used classic games (RDR2, RDR, GTA IV & V, Halo MCC, and two Fallouts) and so far I’ve only worked through a few but it has been so fun.