MOIL Limited Reports Record Sales in October with 21% Increase YoY

MOIL Limited, a key player in the Indian manganese ore sector, reported record-breaking production and sales figures for October 2024. 

MOIL’s October 2024 Sales and Production

The company achieved its highest-ever October production, producing 1.47 lakh tonnes of manganese ore, a significant 32% increase compared to the same period last year. Over the first 7 months of FY25, MOIL recorded a cumulative production of 10.17 lakh tonnes, marking a 10% growth over the corresponding period last year.

The company’s sales also saw a notable rise. In October 2024, MOIL achieved its best-ever monthly sales of 1.06 lakh tonnes, up by 21% from last year’s figures. Cumulatively, sales for the first seven months of FY25 reached 8.57 lakh tonnes, surpassing the sales for the same period in the previous fiscal year.

MOIL has been intensifying its efforts toward exploration, an area critical to expanding its resource base. Between April and October 2024, the company conducted 57,071 meters of exploratory core drilling, a 1.4-fold increase over the same period last year. This exploration expansion is part of MOIL’s strategy to enhance its operational scope and resource security.

Commenting on the company’s performance, Shri Ajit Kumar Saxena, Chairman and Managing Director of MOIL, expressed optimism, noting that the steady growth in production over the first half of FY25 is encouraging. Saxena further highlighted that the MOIL team remains committed to maintaining this momentum, aiming for an outstanding performance in the current fiscal year.

On November 8, 2024, MOIL share price opened at ₹337.85, touching the day’s low at ₹330.30, as of 9:58 AM on the NSE.

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