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United News of India
6 days ago
- Business
- United News of India
MOIL gains momentum, achieves highest manganese ore production in July
New Delhi, Aug 4 (UNI) The government-owned MOIL witnessed a massive manganese ore production of 1.45 lakh tonnes in July 2025, marking a sharp rise of about 12 percent over the corresponding period last year despite adverse weather conditions, a company statement said today. Dealing with the heavy rainfall during the period of April-July 2025, the Nagpur-headquartered MOIL maintained strong operational momentum with production capacity at 6.47 lakh tonnes (which is a Year-over-Year growth of 7.8 per cent). Moreover, MOIL witnessed sales of 5.01 lakh tonnes (10.7 per cent higher than CPLY) and exploratory drilling of 43,215 meters (up 11.4 per cent over CPLY). Ajit Kumar Saxena, CMD, MOIL, stressed on the remarkable performance of the team in adverse conditions. CMD also applauded the team's efforts for driving sales and production capacity. MOIL (earlier known as Manganese Ore (India) Limited), is the largest producer of manganese ore in India. UNI SAS SSP
Time of India
03-07-2025
- Business
- Time of India
MOIL reports record 5 lakh tonnes manganese ore production in Q1
State-owned MOIL has reported around a 7 per cent year-on-year rise in its manganese ore output to 5.02 lakh tonnes in the April-June quarter, an official statement said Thursday. In June, MOIL recorded its highest-ever production of 1.68 lakh tonnes of manganese ore, marking a 2 per cent increase over the corresponding period last year, the Ministry of Steel said. "MOIL scales new heights in April-June, 2025. Registers record quarterly production since inception," it said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas Prices In Dubai Might Be More Affordable Than You Think Villas In Dubai | Search Ads Get Rates Undo Its CMD Ajit Kumar Saxena said the company's resounding performance in April-June 2025 reflects its strong fundamentals and continued growth outlook. MOIL, under the Ministry of Steel, is India's largest manganese ore producer. Live Events The Nagpur-based company operates 10 underground and opencast mines in Maharashtra and Madhya Pradesh. PTI
Hans India
03-07-2025
- Business
- Hans India
MOIL's manganese ore production rises to record 1.68 lakh tonnes in June
New Delhi: India's largest manganese ore producer MOIL continued its robust growth trajectory with the highest-ever June production of 1.68 lakh tonnes of manganese ore, marking a 2 per cent increase over the corresponding period last year, according to an official statement released on Thursday. During the April-June quarter of 2025-26, MOIL has registered its best ever quarterly production of 5.02 lakh tonnes, higher by 6.8 per cent over the same period of the previous year. The government-owned company, which supplies manganese ore as an input for making steel, also achieved its best ever Q1 exploratory core drilling of 34,900 metres, which represents a robust 16.2 per cent increase over the same quarter last year. Expressing satisfaction over the results, MOIL chairman and managing director Ajit Kumar Saxena said the company's resounding performance in April-June reflects its strong fundamentals and continued growth outlook. MOIL reported a 27 per cent increase in consolidated net profit to Rs 115.7 crore for the January-March quarter of financial year 2024-25, compared to Rs 91.1 crore in the corresponding of the previous financial year. Revenue from operations during the quarter came in at Rs 433.4 crore, registering a 4.2 per cent increase from Rs 415.9 crore a year ago. Operational performance remained stable, with EBITDA rising 8.7 per cent on-year to Rs 139.4 crore. EBITDA margin expanded to 32.2 per cent from 30.9 per cent in the year-ago period, reflecting improved cost control and firm pricing. The MOIL board has also approved the payment of an interim dividend of Rs. 4.02 per share for the financial year 2024-25 during the declaration of the Q3 results. This represents a 15 per cent increase over last year's interim dividend of Rs. 3.50 per share. Besides, the Board approved five shafts sinking projects including two ventilation shafts for its Dongri Buzurg Mine, Chikla Mine and Kandri Mine worth Rs 886 crore (approximate). These shafts will help the company to sustain as well as increase its existing production level in the coming years.
United News of India
05-05-2025
- Business
- United News of India
MOIL April production touches record high
Kolkata, May 5 (UNI) MOIL produced a record 1.62 lakh tonnes of Manganese Ore in April, 2025-26, the Ministry of Steel has announced. MOIL's April production of Manganese Ore touched 1.62 lakh tonnes, registering a growth percentage of 1.5% over the corresponding year-ago period, the ministry said in a media release. A total of 11,453 metres of exploratory core drilling was completed during the month, representing a 58% increase compared to the previous year. MOIL CMD, Ajit Kumar Saxena, stated, "MOIL's April performance sets a positive tone for the year ahead. The organisation remains committed to sustained growth and value creation." UNI XC SSP ARN
Hans India
04-05-2025
- Business
- Hans India
MOIL kicks off FY 26 with highest-ever production of manganese ore in April
India's largest manganese ore producer, MOIL, in a strong start to the financial year 2025-26, has delivered its highest-ever April performance with the production of 1.62 lakh tonnes of ore, according to a statement issued by the Ministry of Steel on Sunday. The production of the ore in April represents a 1.5 per cent growth over the corresponding figure for the same month of the previous year. The government-owned company, which supplies manganese ore as an input for making steel, has also achieved its best ever exploratory core drilling of 11,453 metres, which is an impressive growth of 58 per cent over the corresponding figure for the same month last year. The miniratna PSU's Chairman and Managing Director Ajit Kumar Saxena said: "MOIL's April performance sets a positive tone for the year ahead. The organisation remains committed to sustained growth and value creation." MOIL reported a 27 per cent increase in consolidated net profit to Rs 115.7 crore for the January-March quarter of the financial year 2024-25, compared to Rs 91.1 crore in the corresponding quarter of the previous financial year. Revenue from operations during the quarter came in at Rs 433.4 crore, registering a 4.2 per cent increase from Rs 415.9 crore a year ago. Operational performance remained stable, with EBITDA rising 8.7 per cent on-year to Rs 139.4 crore. EBITDA margin expanded to 32.2 per cent from 30.9 per cent in the year-ago period, reflecting improved cost control and firm pricing. The MOIL Board has also approved the payment of an interim dividend of Rs 4.02 per share for the financial year 2024-25 during the declaration of the Q3 results. This represents a 15 per cent increase over last year's interim dividend of Rs 3.50 per share. Besides, the Board approved five shaft sinking projects, including two ventilation shafts for its Dongri Buzurg Mine, Chikla Mine, and Kandri Mine, worth Rs 886 crore (approximate). These shafts will help the company to sustain as well as increase its existing production level in the coming years.
