MOIL Ltd, India’s largest producer of manganese ore, has reported a robust financial performance for the quarter ended June 2025, driven by record-breaking production and operational efficiency. The company posted a consolidated net profit of Rs 515.1 million and revenue from operations of Rs 3.48 billion, underscoring its strategic alignment with India’s expanding steel and alloy industries.
Performance Highlights for Q1 FY26
- Net profit stood at Rs 515.1 million, reflecting a strong bottom-line performance amid stable pricing and volume growth
- Revenue from operations reached Rs 3.48 billion, supported by higher ore dispatches and improved realizations
- EBITDA margin remained healthy, aided by cost control measures and operational leverage
- The company maintained its debt-free status, with strong cash reserves and consistent dividend history
These results mark a continuation of MOIL’s upward trajectory, following its record annual performance in FY25.
Operational Milestones and Production Metrics
- MOIL achieved its highest-ever quarterly production of 5.02 lakh tonnes of manganese ore, up 6.8 percent year-on-year
- June alone saw output of 1.68 lakh tonnes, the best monthly performance in the company’s history
- Exploratory core drilling reached 34,900 meters in Q1, a 16.2 percent increase over the previous year
- The company’s mines in Maharashtra and Madhya Pradesh operated at high utilization levels, supporting volume growth
These milestones reflect MOIL’s operational readiness and its ability to scale production in response to rising domestic demand.
Strategic Initiatives and Growth Drivers
- MOIL is targeting 3.5 million tonnes of manganese ore production by 2030, aligned with India’s steel capacity expansion goals
- The company is investing in mechanization and digitalization across its mining operations to improve efficiency and safety
- Value-added products such as Ferro Manganese and Electrolytic Manganese Dioxide continue to contribute to revenue diversification
- MOIL is exploring joint ventures and strategic partnerships to expand its footprint and access new reserves
These initiatives are designed to enhance long-term competitiveness and reduce India’s reliance on imported manganese ore.
Market Dynamics and Industry Context
- India’s steel industry is projected to reach 300 million tonnes of capacity by 2030, driving demand for approximately 11 million tonnes of manganese ore annually
- MOIL currently contributes around 50 percent of India’s total manganese ore production, making it a critical player in the supply chain
- Global manganese prices remained stable during the quarter, providing a favorable backdrop for domestic producers
- The company’s pricing strategy and product mix optimization helped maintain margins despite inflationary pressures
MOIL’s strategic positioning and market share offer resilience in a commodity-driven environment.
Outlook and Management Commentary
- The company expects continued volume growth in H2 FY26, supported by infrastructure-led demand and industrial recovery
- Management remains focused on expanding capacity, improving ore quality, and enhancing ESG compliance
- MOIL is evaluating export opportunities in Southeast Asia and Africa, leveraging its cost advantage and product reliability
- The company aims to maintain dividend consistency while investing in long-term growth and sustainability
With strong fundamentals and a clear strategic roadmap, MOIL is well-positioned to capitalize on India’s industrial expansion.
Conclusion
MOIL Ltd’s Q1 FY26 results reflect its operational strength, strategic clarity, and alignment with national priorities in resource self-sufficiency. The company’s record production, solid financials, and forward-looking investments underscore its role as a cornerstone of India’s manganese supply chain. As demand accelerates, MOIL’s ability to scale and innovate will be key to sustaining growth and delivering value to stakeholders.
Sources: Reuters, Business Standard, Moneycontrol, The Hans India, PSU Connect, MOIL investor disclosures and press releases, Economic Times, Investing.com India
