MOIL Ltd, the state-owned manganese ore mining company, saw its shares surge over 2% today after reporting its highest-ever January production and sales for FY25. The company, in a stock exchange filing, announced that it produced 1.6 lakh tonnes of manganese ore in January, while its sales rose 17% year-on-year to 1.57 lakh tonnes.
Key Highlights:
- Production in January FY25: 1.6 lakh tonnes of manganese ore
- Sales in January FY25: 1.57 lakh tonnes, up 17% YoY
- Exploratory core drilling: 11,099 meters, a 10% YoY increase
For the April-January period of FY25, MOIL recorded:
- Total production: 14.9 lakh tonnes, up 4% YoY
- Total sales: 12.96 lakh tonnes, reflecting a 5% increase
- Exploratory core drilling: 83,439 meters, up 17.6%
Ajit Kumar Saxena, CMD of MOIL, praised the company’s strong operational performance, stating, “This remarkable achievement reflects MOIL’s commitment to operational excellence and growth. We are confident that the company will continue its upward trajectory and maintain this momentum in the coming months.”
Price Revisions Boost Market Sentiment
Last month, MOIL revised the prices of manganese ore, effective from January 1, 2025. The price adjustments include:
- A 1% price increase for all ferro grades of manganese ore with manganese content of Mn-44% and above.
- A 5% price increase for ferro grades with manganese content below Mn-44% and for silico manganese grades (Mn-30%, Mn-25%, Mn-20%), fines, and chemical grades.
The basic price of electrolytic manganese dioxide (EMD) has been maintained at ₹205,000 per metric tonne for January 2025.
This strong operational performance, coupled with strategic price revisions, positions MOIL for continued growth and investor confidence in the upcoming quarters.
