Prism Johnson shares hit an intraday high of Rs 116.88 after the company secured 1.28 lakh TPA of coal linkage from Coal India units.

The winning bid came through an auction run by MSTC for the cement industry. Under the allocation, Eastern Coalfields will supply 24,000 tonnes per annum, while South Eastern Coalfields will supply the larger share at 1.04 lakh tonnes per annum.

With this addition, Prism Johnson’s total coal linkage now stands at 2.79 lakh tonnes per annum. That covers roughly half of the annual fuel needs for the company’s cement business.

It also builds on the company’s existing linkage of 1.51 lakh tonnes per annum, a chunk of which, around 1.11 lakh tonnes, is set to expire in February 2027.

The new coal will be supplied under Fuel Supply Agreements running for 10 years from the date each contract is signed. Those agreements need to be finalised within 90 days of the Letters of Intent, which were issued on 17 August.

Together, the contracts are worth close to Rs 70.49 crore a year. The company confirmed there is no promoter interest in the awarding entities and that the deal is not a related party transaction. This news comes shortly after a strong quarter for Prism Johnson.

The company swung to a consolidated net profit of around Rs 112 crore in the June quarter of FY27, a sharp turnaround from a loss of Rs 5.56 crore in the same period last year, helped in part by a one-time gain of Rs 33 crore.

Revenue rose 2.6% to Rs 1,835.2 crore, and operating profit, or EBITDA, grew 26.6% to Rs 220.5 crore, with margins improving to 12% from under 10% a year earlier.

At around 12:38 pm, Prism Johnson shares were trading at Rs 111.98 on the NSE, up 6.66% for the day.

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