Miniratna PSU stock jumps 7% after achieving its highest-ever sales of 1.33 lakh tonnes, up 32% YoY
Miniratna PSU stock jumps 7% after achieving its highest-ever sales of 1.33 lakh tonnes, up 32% YoY
A leading mining company has demonstrated exceptional performance in its recent operational update. The enterprise has achieved a remarkable milestone in its production capabilities, marking a significant breakthrough in its annual performance.
The latest report highlights an impressive surge in manganese ore production, showcasing the organisation’s strategic efficiency and operational excellence. This achievement represents notable year-on-year growth that surpasses previous benchmarks.
Share Price Movement
The share price of MOIL Limited went up by 6.7 percent to Rs. 342 per share on Tuesday, an increase from its previous close of Rs. 320.35 per share. The market capitalisation now stands at approximately Rs. 6,878 crore as of December 03, 2024.
What happened
The company has recorded production of 1.63 lakh tonnes of manganese ore in November 2024, which is the best November performance since inception. In the first eight months of FY’25, the company has recorded a production of 11.80 lakh tonnes, which is up 8.46% YoY.
On the sales front, the company has achieved its highest-ever November sales of 1.33 lakh tonnes, marking a 32% increase compared to the same period last year. In the first eight months of FY25, the company recorded sales of 9.9 lakh tonnes, reflecting a growth of 4.76% over the previous year. Additionally, the company has exceeded a turnover of Rs. 1,000 crore within the first eight months of FY25, reaching this milestone more than a month ahead of the previous year.
Q2 Financial Highlights
According to its recent filing, in the quarter ending September 2024, MOIL’s consolidated revenue from operations has decreased by 16 percent YOY from Rs. 348 crore in Q2 FY24 to Rs. 292 crore in Q2 FY25 and decreased by 40.7 percent QoQ from Rs. 493 crore in Q4 FY24.
The company’s consolidated net profit has decreased by 19.3 percent, from Rs. 62 crore in Q2 FY24 to Rs. 50 crore in Q2 FY25. As compared to the last quarter of 2025, the company’s net profit has decreased by 67.3 percent QoQ from Rs. 152 crore.
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Market Outlook
The outlook for the manganese and steel industry appears promising. Over 95% of the world’s manganese production is used in steel manufacturing to improve strength, abrasion resistance, and hardenability. The steel sector has demonstrated unprecedented performance, achieving its highest levels of production and consumption compared to previous financial years.
India’s crude steel production surged by 13% in FY’24, driven by strong demand for manganese alloys needed in steel production. Overall, the industry is expected to continue its robust growth trajectory, driven by favourable market dynamics and the growing importance of manganese in steel production.
Shareholding Pattern
As of the December 2024 shareholding pattern, MOIL Limited is primarily held by the promoters at 64.88 percent, foreign institutional investors hold 4.87 percent, and the public with 22.52 percent.
About Company
MOIL, formerly Manganese Ore (India) Limited, stands as the nation’s largest producer of manganese ore. Established in 1962 and headquartered in Nagpur, Maharashtra, this state-owned enterprise holds a dominant market share of 50%. As a Miniratna Category-I Public Sector Undertaking, MOIL drives India’s manganese supply, supporting key industries such as steel and chemical manufacturing.
Operating ten mines across Maharashtra and Madhya Pradesh, MOIL produces high, medium, and blast furnace-grade ores, alongside manganese dioxide for batteries. Its flagship Balaghat mine is India’s largest and deepest, extending 383 meters underground. Expanding its portfolio, the company manufactures electrolytic manganese dioxide and high-carbon ferro manganese alloys. Additionally, MOIL supports sustainable mining through 20 MW wind energy farms.
MOIL’s commitment to innovation and environmental stewardship positions it for growth. By expanding production capacity and exploring new markets, it continues to meet the rising global demand for manganese-based materials.
Written By Fazal Ul Vahab C H
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