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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.
Business Upturn
02-05-2025
- Business
- Business Upturn
Moil shares rally 6% after Q4 net profit jumps 27% YoY to Rs 116 crore
By Aditya Bhagchandani Published on May 2, 2025, 09:31 IST Shares of state-owned MOIL surged over 6% to Rs 334.85 in early trade on Thursday after the company reported a strong set of financials for the March quarter of FY25. The manganese ore miner posted a 27% year-on-year rise in net profit to Rs 115.65 crore, compared to Rs 91.14 crore in the same period last fiscal. The company's revenue also increased to Rs 458.20 crore, up from Rs 439.85 crore a year ago. For the full financial year FY25, MOIL's net profit rose 30% to Rs 381.63 crore, compared to Rs 293.34 crore in FY24. Speaking to PTI, MOIL CMD Ajit Kumar Saxena said, 'We have ended the fiscal delivering positive financial numbers. We will try to maintain this momentum in the coming quarters.' The company also reported a 3% YoY rise in production to 18.02 lakh tonnes and a 3.3% growth in sales to 15.87 lakh tonnes during FY25. MOIL, India's largest manganese ore producer under the Ministry of Steel, operates 10 mines across Maharashtra and Madhya Pradesh. The company's market capitalization now stands at approximately Rs 67,840 crore, with a P/E ratio of 19 and a dividend yield of 1.59%. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
The Print
30-04-2025
- Business
- The Print
MOIL Q4 profit up 27 pc to Rs 116 cr
Income increased to Rs 458.20 crore during the quarter from Rs 439.85 crore a year ago. It had posted a net profit of Rs 91.14 crore in the January-March period of 2023-24 fiscal year, the company said in an exchange filing. New Delhi, Apr 30 (PTI) State-owned MOIL on Wednesday reported around 27 per cent year-on-year growth in net profit at Rs 115.65 crore for March quarter FY25 driven by a rise in income. In entire FY25, the net profit rose by 30 per cent to Rs 381.63 crore from Rs 293.34 crore in 2023-24. Speaking to PTI, company's CMD Ajit Kumar Saxena said, 'We have ended the fiscal delivering positive financial numbers. We will try to maintain this momentum in the coming quarters.' MOIL has also registered rise in production as well as in sales, he said. In FY25, the company's production stood at 18.02 lakh tonne, up 3 per cent year-on-year, while sales were higher by 3.3 per cent at 15.87 lakh tonne. MOIL, under Ministry of Steel, is India's largest manganese ore producer. The Nagpur-based company operates 10 underground and opencast mines in Maharashtra and Madhya Pradesh. PTI ABI ABI ANU ANU This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
29-04-2025
- Business
- Time of India
No alternative to China's electro chrome tape may drag India's key digital initiatives
NEW DELHI: The fate of the country's telecom connectivity initiatives boosting Digital India ambition, seems to hang in balance as the import of one of the crucial components— electro chromium steel tape— used to manufacture armoured optic fibre cable (OFC) locally, is restricted following the fallout of geopolitical tensions with China. Several chromium steel tape inbound shipments by homegrown OFC manufacturers have been lying at ports pending clearance, industry executives said on the condition of anonymity. Electro chromium-coated steel or ECCS tape is a common material used by manufacturers for shielding and armouring optical fiber cables. Armoured optic fibre cable (OFC) is used in underground deployments, and such a specification is mandatory in state-driven initiatives, including Prime Minister Narendra Modi's prestigious BharatNet program that aims to connect more than 6.5 lakh villages with high-speed Internet access. The Centre, however, is yet to take decisive steps to end the fiasco. 'The issue of import of electro chrome coated steel (ECCS) tape has been examined jointly by the Ministry of Steel and the Ministry of Communications . It was ascertained that though presently this grade of steel is not being manufactured in the country, there is the capability in the country for manufacturing of the steel. Accordingly, in a meeting with importing companies, it was decided that a fourth of the annual requirement of the ECCS will be allowed to be imported, and in the meanwhile, the companies will explore the possibilities of domestic manufacturing,' Sandeep Pondrik, secretary, Ministry of Steel, told ETTelecom. The companies, according to Pondrik, were asked to provide documents through the online portal in support of their claim of requirement, such as orders under the BharatNet project. 'Three companies have applied for the import of ECCS for the BharatNet project, out of which one company has given the required documents, and has been issued with a no-objection certificate.' Industry insiders say that "a temporary arrangement for 3 months" for a critical national program— BharatNet —is insignificant, and that the component is required for making OFC for other private sector players as well as state-owned telco-led deployments. Lately, incumbent telecom carriers— Reliance Jio , Bharti Airtel and Vodafone Idea (VIL) have been deploying OFC-based network aggressively on the back of fibre-to-the-home (FTTH) offering, and next-generation 5G technology-driven network rollout. 'Non availability of ECCS is severely affecting OFC manufacturers and it is likely to affect BharatNet project as well,' NK Goyal, chairman emeritus, Telecom Equipment Manufacturers Association of India (Tema) said. With the Directorate General of Foreign Trade (DGFT) playing a crucial role in regulating and facilitating imports into India, there are abnormal delays in getting clearances, which are resulting in "no production" locally, Goyal added. Queries to the Piyush Goyal-headed Ministry of Commerce & Industry as well as the Ministry of Communications did not elicit any response. The third phase of the prestigious BharatNet initiative is about to take off as the state-run Bharat Sanchar Nigam Limited ( BSNL ) is in the process of awarding as many as 16 packages to successful bidders to take digital connectivity up to the last mile, in a bid to deliver multiple citizen-centric e-Services. 'The industry needs it (ECCS tape) on an immediate basis. We have been in touch with the Ministry of Steel on this issue for many months, however the solution offered seems insufficient,' RK Bhatnagar, director-general, Voice of Indian Communication Technology Enterprises (Voice) said. Delhi-based domestic industry group Tema said that the 'ECCS tape is not manufactured anywhere,' and needs to be imported from China for the continuity of digital connectivity initiatives. 'We strongly believe that the import should be fully allowed immediately. Simultaneously, the industry would welcome any local steel manufacturer, to produce and supply domestically,' Goyal added. Following an alarm and representations by domestic manufacturers, the Department of Telecommunications (DoT), according to official sources, has been monitoring the situation, and may likely seek extension beyond a 3-month period from the HD Kumaraswamy-headed Ministry of Steel. Corrugated ECCS tethering acts as a protective material for OFC colour coating retention, exposure to extreme heat conditions and water immersion, as well as preventing damage from rodents and termites.
