MOIL Q1 FY27 net profit jumps 70% to ₹87.62 crore on higher realisations
Synopsis
MOIL's net profit doubled in pace against its volume growth — a 70 per cent profit jump on just 1 per cent more ore produced. The real story is pricing: at ₹9,749 per tonne, realisations hit a 10 per cent premium over last year, turning modest operational gains into a blockbuster quarter for India's top manganese miner.
Key Takeaways
MOIL reported a 70 per cent rise in net profit to ₹87.62 crore in Q1 FY 2026-27 , up from ₹51.51 crore a year ago.
Revenue from operations grew 7 per cent to ₹370.88 crore ; total revenue rose 6 per cent to ₹391.13 crore .
Net sales realisation improved 10 per cent to ₹9,749 per MT , the primary driver of profit outperformance.
Manganese ore production rose 1 per cent to 5,07,605 MT ; sales volumes grew 4 per cent to 3,69,049 MT .
MOIL is a Miniratna Category-I PSU under the Ministry of Steel , operating mines in Maharashtra and Madhya Pradesh .
MOIL Limited, India's largest manganese ore producer, posted a 70 per cent surge in net profit to ₹87.62 crore in the first quarter of FY 2026-27 (April–June), up from ₹51.51 crore in the same quarter a year ago. The public sector miner's strong showing was driven by improved price realisations and steady volume growth across production and sales.
Key Financial Highlights
Revenue from operations rose 7 per cent year-on-year to ₹370.88 crore, compared to ₹348.06 crore in Q1 FY 2025-26. Total revenue for the quarter climbed 6 per cent to ₹391.13 crore, against ₹370.52 crore in the year-ago period. Profit before tax mirrored the net profit growth, also registering a 70 per cent rise to ₹87.62 crore.
Net sales realisation improved significantly, reaching ₹9,749 per metric tonne (MT) — a 10 per cent gain over ₹8,884 per MT recorded in the corresponding previous quarter. This uptick in per-unit realisation was a primary lever behind the outsized profit growth relative to the more modest volume increase.
Production and Sales Volume
Manganese ore production for the quarter stood at 5,07,605 MT, a 1 per cent increase over the 5,02,260 MT recorded in Q1 FY26. Sales volumes were more robust, with manganese ore offtake touching 3,69,049 MT, up 4 per cent from 3,56,196 MT in the same period last year. The divergence between production growth and sales growth suggests the company drew on existing inventory to meet demand.
What the Company Said
The Board of Directors of MOIL Limited approved the financial and operational results on Wednesday, 29 July 2025. In a press statement, the company said it 'recorded steady growth across production, sales volume, and overall profitability.'
'These results reflect the dedication and hard work of our entire workforce. The operational discipline and commitment shown by our team have enabled the company to maintain growth across key metrics. As we move forward, MOIL remains focused on achieving higher production targets, improving operational efficiency, and meeting the growing requirements of the domestic steel industry,' the company stated.
About MOIL
MOIL Limited is a Schedule 'A' Miniratna Category-I Central Public Sector Enterprise under the Ministry of Steel. The company operates underground and open-cast mines across Maharashtra and Madhya Pradesh, and holds the distinction of being the country's single largest manganese ore producer. Its performance is closely watched as a proxy for upstream steel sector health, given manganese ore's critical role in steel manufacturing.
Outlook
With domestic steel demand remaining firm and the government's infrastructure push sustaining offtake, MOIL's management has indicated a continued focus on ramping up production targets. However, any softening in global manganese prices or a slowdown in domestic steel output could temper realisations in subsequent quarters.
Point of View
749-per-tonne realisation is a tailwind today, but manganese ore prices are globally volatile and linked to Chinese steel demand — a variable entirely outside MOIL's control. The company's underground mines in Maharashtra and Madhya Pradesh face structural cost pressures, and the gap between production growth and sales growth hints at inventory management rather than a demand surge. Until MOIL demonstrates meaningful volume expansion or downstream integration, these quarterly spikes will remain price-driven events, not structural re-ratings.
NationPress
30 Jul 2026
Frequently Asked Questions
What is MOIL's net profit for Q1 FY 2026-27?
MOIL reported a net profit of ₹87.62 crore in Q1 FY 2026-27 (April–June 2025), a 70 per cent increase from ₹51.51 crore in the same quarter of the previous financial year.
What drove MOIL's profit growth in Q1 FY27?
The primary driver was a 10 per cent improvement in net sales realisation to ₹9,749 per metric tonne, compared to ₹8,884 per MT a year ago. This pricing gain amplified the impact of modest volume growth on overall profitability.
How much manganese ore did MOIL produce in Q1 FY27?
MOIL produced 5,07,605 metric tonnes of manganese ore in Q1 FY 2026-27, a 1 per cent increase over the 5,02,260 MT recorded in Q1 FY26. Sales volumes grew at a faster 4 per cent to 3,69,049 MT.
What is MOIL and what does it do?
MOIL Limited is a Schedule 'A' Miniratna Category-I Central Public Sector Enterprise under India's Ministry of Steel. It is the country's largest manganese ore producer, operating underground and open-cast mines across Maharashtra and Madhya Pradesh. Manganese ore is a critical input in steel manufacturing.
What is MOIL's revenue for Q1 FY 2026-27?
MOIL's revenue from operations reached ₹370.88 crore in Q1 FY27, up 7 per cent from ₹348.06 crore a year earlier. Total revenue, including other income, rose 6 per cent to ₹391.13 crore.
