MOIL Reports Strong Q1 FY25 Performance: Production Rose 8% YoY

Financial Highlights

MOIL has announced robust financial results for the first quarter of FY2025, marked by record-breaking quarterly turnover and sales. Production and sales witnessed significant year-on-year growth, driven by favourable market conditions. The company achieved its highest-ever quarterly revenue from operations and profit before tax, reflecting improved operational efficiency and cost management.

In keeping with its positive FY’24 performance, the company set records for quarterly turnover and sales in April through June of 2024. While sales during the quarter increased by 15% year over year to 4.53 lakh tonnes, production increased by 8% to 4.70 lakh tonnes. With the aid of market forces and a rise in production and sales, the company has achieved its highest-ever quarterly income from operations of ₹492.84 crores and profit before tax of ₹204.3 crores.

Strategic Implications

MOIL’s strong Q1 performance underscores its position as a key player in the manganese ore industry. The company’s ability to capitalise on favourable market conditions and enhance profitability is commendable. The price adjustments reflect MOIL’s strategic approach to maintaining competitiveness while optimising revenue generation.

Shri Ajit Kumar Saxena, CMD MOIL, mentioned that it was heartening to see the MOIL team maintaining the momentum of high growth, breaking the myth of first-quarter syndrome, and surpassing the previous fourth-quarter performance in turnover and sales.

Price Adjustments

In response to market dynamics, MOIL has implemented price adjustments for various manganese ore products effective August 1, 2024. Ferro grades with Mn content above 44% have been reduced by 10%, while lower-grade ferro grades, SMGR, fines, and chemical grades have been decreased by 27%. The price of EMD remains unchanged at ₹2,10,000/- PMT for August 2024.

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