Coconut oil should be fine unless you are in an area of India where it gets quite cold. If it is solid, it should melt if you hold it in your hands, then you can apply. I wouldn't use coconut oil in the winter here - but I'm in Canada.

If you want to try other oils, you could use either pure jojoba oil or argan oil. Using either should be similar to a commercial beard oil - but much cheaper.