MOIL shines on posting 35% growth in manganese ore production
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MOIL is currently trading at Rs. 318.75, up by 14.10 points or 4.63% from its previous closing of Rs. 304.65 on the BSE.
The scrip opened at Rs. 311.65 and has touched a high and low of Rs. 322.90 and Rs. 311.65 respectively. So far 296247 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 369.15 on 02-Feb-2024 and a 52 week low of Rs. 144.85 on 05-Apr-2023.
Last one week high and low of the scrip stood at Rs. 322.90 and Rs. 276.85 respectively. The current market cap of the company is Rs. 6452.52 crore.
The promoters holding in the company stood at 64.68%, while Institutions and Non-Institutions held 16.01% and 19.30% respectively.
MOIL has posted 35% year-on-year (Y-O-Y) jump in manganese ore production to 17.56 lakh tonnes during FY24. It had produced 13.02 lakh tonnes (LT) manganese ore during FY23. The company has recorded best ever production of any financial year since inception at 17.56 lakh tonnes. This is 29% higher than the previous best ever production of 13.64 lakh tonnes in FY08.
On the sales front, the company has achieved its best ever sales of 15.36 lakh tonnes in FY24, registering a remarkable growth of 30% y-o-y. This is 10% higher than the previous best ever sales of 13.92 lakh tonnes in FY08.
The company has also achieved best ever production of Electrolytic Manganese Dioxide (EMD) at 1413 tonnes, higher by 28% y-o-y. EMD is a 100% import substitution product, used mostly for pharmaceuticals and manufacturing of batteries.
MOIL is the largest iron ore company in India and fifth largest in world. It currently operates seven underground mines (Kandri, Munsar, Beldongri, Gumgaon, Chikla, Balaghat and Ukwa mines) and three opencast mines (Dongri Buzurg, Sitapatore/Sukli, and Tirodi).
