Has MOIL Achieved Its Best Production Ever in September?
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Synopsis
India's leading manganese producer, MOIL, has made headlines with its record production of 1.52 lakh tonnes in September. This achievement signifies a remarkable growth trajectory, highlighting the company's commitment to operational excellence and sustainability. With increased sales and exploration efforts, MOIL is well-positioned for the future.
Key Takeaways
- Record production of 1.52 lakh tonnes in September.
- 3.8% growth compared to the same month last year.
- 18.6% increase in sales to 3.53 lakh tonnes.
- 10.3% growth in Q2 production to 4.42 lakh tonnes.
- Exploratory drilling activity increased by 46%.
New Delhi, Oct 4 (NationPress) MOIL, India’s leading manganese ore producer, achieved a record-breaking production of 1.52 lakh tonnes in September, marking an impressive 3.8% increase compared to the same month last year, as per a statement from the Ministry of Steel released on Saturday.
Exploratory core drilling activities have seen a remarkable rise, reaching 5,314 metres, which is a substantial 46% growth, reflecting MOIL’s commitment to expanding its resource base.
The state-owned enterprise, a crucial supplier of manganese ore for steel manufacturing, also reported a significant 18.6% surge in sales, totaling 3.53 lakh tonnes for September.
Moreover, MOIL recorded its highest second-quarter production (July-September) of 4.42 lakh tonnes, showcasing a solid 10.3% growth over the same timeframe last year.
In addition, the company achieved its best Q2 exploratory core drilling with 21,035 metres, which indicates a 4.1% increase compared to the corresponding period of the previous year.
Discussing the performance, MOIL’s chairman and managing director, Ajit Kumar Saxena, stated, “The growth across key metrics highlights MOIL’s dedication to enhancing operational excellence and ensuring long-term sustainability. By focusing on exploration across all our operational mines, we are strategically positioned to boost our reserves and maintain our leadership in the manganese industry.”
MOIL is designated as a Schedule 'A' Miniratna Category-I public sector undertaking, actively engaged in mining and supplying manganese. Currently, the company operates underground and opencast mines in the Nagpur and Bhandara districts of Maharashtra and the Balaghat district of Madhya Pradesh.
Recently, the MOIL Board sanctioned an interim dividend of Rs. 4.02 per share for the financial year 2024-25, representing a 15% increase from last year’s interim dividend of Rs. 3.50 per share.
Additionally, the Board approved five shaft sinking projects, including two ventilation shafts for the Dongri Buzurg Mine, Chikla Mine, and Kandri Mine, with an estimated worth of Rs. 886 crore. These projects are expected to sustain and potentially enhance production levels in the coming years.
Point of View
The company's efforts to expand its resource base reflect a forward-thinking approach. This positions MOIL favorably within the industry, ensuring it remains a key player in India’s manganese market.
NationPress
04/10/2025
Frequently Asked Questions
What was MOIL's production in September?
MOIL achieved a record production of 1.52 lakh tonnes in September, marking a 3.8% increase from the previous year.
How much did sales increase for MOIL?
Sales for MOIL rose by 18.6%, totaling 3.53 lakh tonnes in September.
What is the significance of exploratory core drilling?
Exploratory core drilling is crucial for expanding MOIL's resource base, with a significant increase of 46% in September.
What is the interim dividend approved by the MOIL Board?
The MOIL Board approved an interim dividend of Rs. 4.02 per share for the financial year 2024-25, reflecting a 15% increase from the previous year.
Where are MOIL's mines located?
MOIL operates mines in the Nagpur and Bhandara districts of Maharashtra and the Balaghat district of Madhya Pradesh.
