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MOIL - MOIL

📊 NSE: MOIL 🏢 Mining / Minerals / Metals 📅 Last Updated: 12/14/2025 9:57

📢 Recent Corporate Announcements

MOIL Revises Manganese Ore Prices for March 2026; Most Grades Up by 2% to 10%

🟢 POSITIVE ⭐ 7/10

ROUTINE 📅 05 Mar 2026, 06:44 PM

MOIL Limited has announced a revision in the prices of various grades of Manganese Ore effective from March 1, 2026. Most Ferro and Chemical grades have seen a price hike of 2%, while specific grades like BGL509 and UKF532 witnessed a significant 10% increase. Conversely, the company has reduced the price of Electrolytic Manganese Dioxide (EMD) by Rs. 10,000 per metric ton. These monthly price adjustments are standard practice for the company to align with market demand and international price benchmarks.

Prices of all Ferro grades (Mn 44% and above) and Chemical grades increased by 2% effective March 1, 2026.
SMGR (Mn 30%) prices hiked by 2%, while SMGR (Mn 25%) and Fines prices remain unchanged.
Specific grades BGL509 and UKF532 saw a sharp price increase of 10% compared to February levels.
Basic price of Electrolytic Manganese Dioxide (EMD) decreased by Rs. 10,000 per MT to Rs. 1,80,000 per MT.
Price revisions are based on the prevailing rates since February 1, 2026, and apply to the Jan-Mar 2026 quarter.

💡 The upward revision in most ore grades is a positive indicator for MOIL's margins and revenue for the final month of the fiscal year. Investors should monitor global manganese price trends and domestic steel demand as they directly influence MOIL's monthly pricing power.

MOIL Announces Cessation of Govt Nominee Director Iqbal Singh Chahal Effective Jan 31, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 05 Mar 2026, 12:57 PM

MOIL Limited has announced that Shri Iqbal Singh Chahal has ceased to be a Government Nominee Director on the company's Board. This change follows his superannuation from the position of Additional Chief Secretary (Mines) with the Government of Maharashtra on January 31, 2026. The company received the formal notification regarding this retirement on March 5, 2026. As this is a routine administrative transition for a state-nominated position, it is not expected to impact the company's strategic operations.

Shri Iqbal Singh Chahal ceased to be a Non-Executive Director effective January 31, 2026.
The cessation is due to his superannuation from the Government of Maharashtra service.
He served as the Nominee Director representing the Government of Maharashtra on the MOIL Board.
Formal intimation of the retirement was received by the company on March 5, 2026.

💡 This is a routine board change for a PSU; no action is required from investors. Monitor for the appointment of a new nominee director from the Government of Maharashtra.

MOIL Announces 5-10% Price Hike for Various Manganese Ore Grades for February 2026

🟢 POSITIVE ⭐ 7/10

ROUTINE 📅 01 Mar 2026, 11:56 AM

MOIL Limited has announced a price revision for various grades of Manganese Ore effective from February 1, 2026. Most Ferro grades, SMGR (30%), Fines, and Chemical grades have seen a price increase of 5% over January 2026 levels. Notably, the UKF532 grade saw a higher increase of 10%, while the price for Electrolytic Manganese Dioxide (EMD) remained steady at Rs. 1,90,000 per metric tonne. These price hikes are expected to positively impact the company's realizations and profit margins for the final quarter of the fiscal year.

Prices of all Ferro grades with Manganese content of 44% and above increased by 5%.
SMGR (Mn-30%), Fines, and all Chemical grades saw a price hike of 5%.
Metal Mandi Fines grade UKF532 received a significant price increase of 10%.
Basic price of Electrolytic Manganese Dioxide (EMD) maintained at Rs. 1,90,000 per metric tonne.
Prices for SMGR (Mn 25% and 20%) and specific Ferro grade BG4584 remained unchanged from January levels.

💡 Investors should monitor these price hikes as they directly contribute to improved revenue and margins for MOIL. The upward revision suggests healthy demand in the steel and alloy sectors, making the stock a positive watch for the upcoming quarter.

MOIL Limited Fined Rs 10.85 Lakh by NSE and BSE for Board Composition Non-Compliance

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 28 Feb 2026, 09:29 AM

MOIL Limited has been penalized by both the National Stock Exchange (NSE) and BSE Limited for failing to comply with SEBI regulations regarding Board of Directors composition for the quarter ended December 31, 2025. Each exchange has levied a fine of Rs 5,42,800 (including GST), totaling Rs 10,85,600. The company has clarified that these fines will not impact its financial, operational, or other business activities. Such regulatory issues are relatively common among PSUs where board appointments are subject to government approval processes.

NSE imposed a fine of Rs 5,42,800 (including GST) for regulatory non-compliance.
BSE imposed a matching fine of Rs 5,42,800 (including GST) for the same violation.
The fines relate to the composition of the Board of Directors for the quarter ended Dec 31, 2025.
Total financial penalty across both exchanges amounts to Rs 10,85,600.
Company confirms no material impact on operations or financial health due to this penalty.

💡 Investors should treat this as a minor administrative matter typical for PSUs and no immediate action is required. Monitor for future compliance updates to ensure the board composition is eventually rectified.

MOIL Wins GST Appeal; Rs 55-58 Crore Tax Liability Quashed

🟢 POSITIVE ⭐ 7/10

LEGAL 📅 21 Feb 2026, 02:50 PM

MOIL Limited has received a favorable ruling from the Commissioner (Appeals), CGST & Central Excise, Bhopal, regarding a significant tax dispute. The appellate authority set aside a previous order that demanded GST under the reverse charge mechanism on payments made to the Madhya Pradesh Mining Department. This ruling effectively quashes a total risk exposure of approximately Rs. 55 to 58 Crore, which included tax, penalties, and interest. As of now, no liability remains for the company in this matter, providing significant financial relief.

Appellate authority quashed a GST demand of Rs. 20.29 Crore.
An equivalent penalty of Rs. 20.29 Crore has also been set aside by the authority.
Estimated interest of Rs. 15-18 Crore is no longer payable, totaling a relief of Rs. 55-58 Crore.
The dispute related to GST on MPGATSVA under the reverse charge mechanism (RCM) for the Mining Department of MP.
No liability survives as on date, though the decision is subject to further appeal by the Department.

💡 This is a positive development as it eliminates a significant contingent liability from MOIL's books. Investors should maintain their positions while keeping an eye on whether the tax department files a further appeal in higher tribunals.

MOIL Limited Participates in MANTHAN- Systematix India Annual Conference 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 09 Feb 2026, 04:02 PM

MOIL Limited attended the MANTHAN- Systematix India Annual Conference 2026 in Mumbai on February 9, 2026. The company confirmed that no new corporate presentations or unpublished price sensitive information (UPSI) were shared during the session. This disclosure is a follow-up to their prior notification dated February 3, 2026. Such meetings are part of the company's routine engagement with institutional investors and analysts.

Attended the MANTHAN- Systematix India Annual Conference in Mumbai on February 9, 2026
Confirmed that no unpublished price sensitive information (UPSI) was shared during the meet
Stated that no new presentations were used during the investor interaction
The meeting follows the prior regulatory intimation sent on February 3, 2026

💡 No action is required as this is a routine regulatory filing with no material impact on the company's fundamentals. Investors should wait for quarterly results for any significant operational updates.

MOIL Limited to Attend MANTHAN- Systematix India Annual Conference on February 9, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 03 Feb 2026, 06:04 PM

MOIL Limited has scheduled its participation in the MANTHAN- Systematix India Annual Conference on February 9, 2026, in Mumbai. The company will engage in both group and one-on-one meetings with institutional investors and analysts. This routine interaction is part of the company's investor relations strategy to discuss its business environment and operational updates. No specific financial data or material non-public information is expected to be disclosed beyond what is already in the public domain.

Conference Name: MANTHAN- Systematix India Annual Conference, 2026
Scheduled Date: Monday, February 9, 2026
Location: Mumbai
Meeting Type: Group and one-on-one interactions with analysts and investors
Regulatory Compliance: Filed under Regulation 30 of SEBI (LODR) Regulations, 2015

💡 Investors should monitor the company's website or exchange filings for any investor presentations or transcripts that may be released following the conference. No immediate action is required as this is a standard corporate outreach event.

MOIL Hikes Manganese Ore Prices by 5% to 10% for February 2026

🟢 POSITIVE ⭐ 7/10

ROUTINE 📅 01 Feb 2026, 07:39 PM

MOIL Limited has announced a price hike for various grades of Manganese Ore effective February 1, 2026. Most major categories, including high-grade Ferro, Chemical, and SMGR (30%) grades, have seen a price increase of 5% compared to January 2026 levels. Additionally, a significant 10% hike was implemented for the UKF532 grade of Metal Mandi Fines. Prices for Electrolytic Manganese Dioxide (EMD) remain stable at Rs. 1,90,000 per metric tonne, while some lower-grade ores saw no price change.

5% price increase for Ferro grades (Mn-44% and above) and all Chemical grades.
SMGR (Mn-30%) and Fines grades prices hiked by 5% effective February 1, 2026.
UKF532 Metal Mandi Fines witnessed a sharp price increase of 10%.
EMD basic price maintained at Rs. 1,90,000 per metric tonne for the month.
Prices for SMGR (Mn-25% and Mn-20%) remain unchanged from January levels.

💡 Investors should view these price hikes as a positive driver for MOIL's margins and revenue realization in the final quarter of FY26. The stock remains a key play on manganese demand and global commodity pricing trends.

MOIL Receives Ministry Approval for JV with MPSMCL for Manganese Mining in Madhya Pradesh

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 31 Jan 2026, 01:59 PM

MOIL Limited has received formal approval from the Ministry of Steel to establish a Joint Venture (JV) with the Madhya Pradesh State Mining Corporation Limited (MPSMCL). This approval follows clearance from the Department of Investment and Public Asset Management (DIPAM), marking a significant step in formalizing the partnership. The JV is dedicated to manganese ore mining within the state of Madhya Pradesh, a core operational area for MOIL. This move is expected to strengthen MOIL's resource pipeline and long-term production capacity through strategic state-level collaboration.

Ministry of Steel approved the JV formation via letter dated January 29, 2026.
The JV is a partnership between MOIL Ltd. and Madhya Pradesh State Mining Corporation Limited (MPSMCL).
Clearance for the JV agreement was obtained from the Department of Investment and Public Asset Management (DIPAM).
The primary focus of the new entity will be manganese ore mining in Madhya Pradesh.
This follows preliminary board approvals previously recorded in December 2023 and October 2024.

💡 Investors should view this as a positive development for MOIL's long-term volume growth and resource security. Monitor upcoming disclosures for details on the JV's equity structure and specific mining lease allocations.

MOIL Declares ₹3.53 Interim Dividend; Q3 Net Profit Declines 17% YoY to ₹52.9 Crore

🟡 NEUTRAL ⭐ 7/10

DIVIDEND 📅 30 Jan 2026, 01:13 PM

MOIL Limited has declared a second interim dividend of ₹3.53 per equity share for FY 2025-26, with a record date of February 5, 2026. The company's Q3 FY26 net profit fell 16.9% year-on-year to ₹52.92 crore, down from ₹63.68 crore in the previous year. Revenue from operations also saw a marginal decline of 1.9% YoY to ₹359.91 crore. For the nine-month period ending December 2025, the net profit witnessed a significant drop to ₹174.87 crore from ₹265.99 crore in the corresponding period last year.

Declared 2nd Interim Dividend of ₹3.53 per share with a record date of February 5, 2026.
Q3 FY26 Net Profit stood at ₹52.92 crore, a 16.9% decline compared to ₹63.68 crore in Q3 FY25.
Revenue from operations for the quarter was ₹359.91 crore versus ₹366.82 crore YoY.
Nine-month FY26 net profit dropped 34.2% to ₹174.87 crore from ₹265.99 crore.
Mining products segment contributed the bulk of revenue at ₹341.34 crore for the quarter.

💡 While the dividend provides a steady yield, the declining profitability over the nine-month period is a concern. Investors should monitor manganese ore price trends and the company's cost management in upcoming quarters.

MOIL Q3 FY26 Net Profit Falls 17% YoY to ₹52.92 Cr; Declares ₹3.53 Interim Dividend

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 30 Jan 2026, 01:10 PM

MOIL Limited reported a 17% year-on-year decline in net profit to ₹52.92 crore for the quarter ended December 31, 2025, compared to ₹63.68 crore in the previous year. Revenue from operations also saw a marginal dip to ₹359.91 crore from ₹366.82 crore YoY. Despite the earnings pressure, the company declared a second interim dividend of ₹3.53 per equity share for FY 2025-26. The nine-month performance shows a more significant profit contraction of 34%, falling to ₹174.87 crore from ₹265.99 crore, indicating sustained margin pressure.

Net profit for Q3 FY26 declined 17% YoY to ₹52.92 crore from ₹63.68 crore.
Revenue from operations for the quarter stood at ₹359.91 crore, down from ₹366.82 crore YoY.
Declared a second interim dividend of ₹3.53 per share with a record date of February 5, 2026.
Nine-month FY26 net profit dropped 34% to ₹174.87 crore compared to ₹265.99 crore in the same period last year.
Mining segment remains the primary revenue driver, contributing ₹341.34 crore to the quarterly top line.

💡 Investors should monitor the declining profitability and revenue trends over the nine-month period, which suggest rising operational costs or pricing pressures. While the dividend yield remains attractive for long-term holders, the stock may face short-term pressure due to the weak earnings growth.

MOIL Sets February 5, 2026, as Record Date for 2nd Interim Dividend FY26

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 20 Jan 2026, 01:00 PM

MOIL Limited has fixed February 5, 2026, as the record date to determine shareholder eligibility for its second interim dividend of FY 2025-26. The formal declaration and the specific dividend amount per share will be decided in the upcoming Board Meeting scheduled for January 30, 2026. This announcement follows the company's practice of regular dividend payouts, which is typical for a PSU. Investors need to ensure they hold the stock prior to the ex-dividend date to receive the payment.

Record date for 2nd Interim Dividend for FY 2025-26 is February 5, 2026
Board Meeting to declare the dividend amount is scheduled for January 30, 2026
The dividend is subject to board approval during the month-end meeting
Compliance submitted under Regulation 42 of SEBI Listing Obligations

💡 Investors should monitor the January 30 board meeting outcome for the dividend quantum. To be eligible for the payout, shares must be purchased at least one day prior to the ex-dividend date.

MOIL Appoints Vishwanath Suresh as Chairman & Managing Director till August 2030

🟢 POSITIVE ⭐ 7/10

MANAGEMENT 📅 07 Jan 2026, 06:51 PM

MOIL Limited has appointed Shri Vishwanath Suresh as its new Chairman-cum-Managing Director effective January 7, 2026. The appointment, directed by the Ministry of Steel, will last until his superannuation on August 31, 2030. Mr. Suresh brings over 30 years of experience in the mining and manufacturing sectors, having previously served as Director (Commercial) at NMDC Limited and in senior roles at SAIL. This leadership transition provides the company with a seasoned professional to guide its strategic and commercial operations.

Shri Vishwanath Suresh assumed the role of Chairman-cum-Managing Director on January 7, 2026
The appointment is valid until his superannuation date of August 31, 2030
Mr. Suresh previously held the position of Director (Commercial) at NMDC Limited
He brings over three decades of experience in sales, marketing, and strategic management in the steel and iron ore sectors
He is an alumnus of NIT Rourkela and holds an MBA in Marketing along with a certification from IIM Kozhikode

💡 Investors should view this as a positive development for leadership stability. Monitor the company's operational performance and production growth under the new CMD's tenure.

MOIL Reports Record Q3 Production of 4.77 Lakh Tonnes, Up 3.7% YoY

🟢 POSITIVE ⭐ 7/10

ROUTINE 📅 05 Jan 2026, 06:14 PM

MOIL Limited has achieved its highest-ever production for both the third quarter and the first nine months of FY 2025-26. In Q3 FY26, the company produced 4.77 lakh tonnes of manganese ore, representing a 3.7% increase compared to the same period last year. For the nine-month period ending December 2025, total production reached 14.21 lakh tonnes, marking a 6.8% year-on-year growth. This performance is attributed to enhanced mechanization and improved operational discipline across its mining units.

Achieved record Q3 FY26 manganese ore production of 4.77 lakh tonnes
Q3 production grew by 3.7% compared to the corresponding period last year
Recorded best-ever nine-month production of 14.21 lakh tonnes for Apr-Dec FY26
Nine-month production volume increased by 6.8% year-on-year
Growth driven by focused mine planning and increased mechanization

💡 Investors should view this record production as a sign of strong operational efficiency and volume growth. The focus should now be on whether these higher volumes translate into improved financial margins in the upcoming Q3 earnings report.

MOIL Revises Manganese Ore Prices for Jan 2026; Ferro Grades Up 3%, SMGR 30% Up 5%

🟢 POSITIVE ⭐ 7/10

ROUTINE 📅 01 Jan 2026, 04:02 PM

MOIL Limited has announced a revision in the prices of various grades of Manganese Ore effective from January 1, 2026. The company has increased prices for high-demand Ferro grades by 3% and SMGR (Mn 30%) by 5%. However, prices for lower-grade SMGR (Mn 25% and 20%) have been reduced by 5% and 10% respectively. Additionally, the price of Electrolytic Manganese Dioxide (EMD) was cut by Rs. 5,000 per metric tonne to Rs. 1,90,000.

Prices of all Ferro grades (Mn 44% and above, and below 44%) increased by 3% effective Jan 1, 2026
SMGR (Mn 30%) and Fines grades prices hiked by 5% compared to December 2025 levels
Significant 10% price increase for Metal Mandi Fines (UKF532, DBF575, and MSF592)
Price reductions of 5% and 10% implemented for lower-grade SMGR (Mn 25% and Mn 20% respectively)
EMD basic price decreased by Rs. 5,000 PMT to a new rate of Rs. 1,90,000

💡 The price hikes in high-grade manganese ore suggest healthy demand and should support MOIL's margins in the Jan-Mar quarter. Investors should monitor if these price increases are sustained throughout the quarter to gauge impact on bottom-line growth.

View All MOIL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total revenue grew 9.35% to INR 1,584.94 Cr in FY 2024-25. Segment contributions are Mining of Manganese Ore at 91.80%, Manufacturing (Ferro Manganese and Electrolytic Manganese Dioxide) at 7.82%, and Power Generation (Wind Power) at 0.38%. Q1 FY 2024-25 revenue was INR 492.84 Cr, representing a 30% YoY increase.

Geographic Revenue Split

Not disclosed in available documents; however, operations are centered in India with registered offices in Maharashtra and mines in regions like Balaghat (MP) and Gumgaon.

Profitability Margins

Net profit margin improved from 20.24% to 24.08% YoY. Operating profit margin increased from 20.25% to 23.69% in FY 2024-25. These improvements were driven by record production levels and higher sales volumes despite global price pressures.

EBITDA Margin

EBITDA margin stood at 40.31% in FY 2024-25, up from 36.65% in FY 2023-24. Core profitability improved as EBITDA reached INR 638.91 Cr, a 20.27% increase YoY, reflecting better cost absorption over higher production volumes.

Capital Expenditure

Planned capital expenditure of INR 328 Cr for the current year and INR 340 Cr for the next year. In the last 2-3 years, capex has exceeded Profit After Tax (PAT) to fund modernization and high-speed shaft sinking projects at Balaghat and Gumgaon mines.

⚙️ Operational Drivers

Raw Materials

Manganese ore resources (internal), power, and consumables. Mining accounts for 91.80% of turnover, making the extraction of manganese ore the primary cost and revenue driver.

Import Sources

Primarily sourced from internal mines in Maharashtra and Madhya Pradesh, India. The company added 7.98 million tons of resources in the last year to its domestic base.

Capacity Expansion

Current production is 18.03 lakh MT (FY 2024-25). The company is targeting a production capacity of 3.5 million tons (35 lakh MT) by 2030, supported by environmental clearances for up to 5 million tons.

Raw Material Costs

Total expenditure rose 4.63% to INR 1,209.54 Cr in FY 2024-25. The company focuses on converting its 7.98 million tons of added resources into reserves to manage long-term procurement costs.

Manufacturing Efficiency

Production increased 2.67% to 18.03 lakh MT. Exploratory core drilling reached 30,028 meters in Q1 FY25, a 1.5x increase YoY, which improves the efficiency of future mining operations.

Logistics & Distribution

Not disclosed as a specific percentage of revenue, but sales quantity grew 3.32% to 15.87 lakh MT in FY 2024-25.

📈 Strategic Growth

Expected Growth Rate

12%

Growth Strategy

MOIL plans to double production to 3.5 million tons by 2030 through the modernization and mechanization of existing mines, sinking new high-speed shafts at Balaghat and Gumgaon, and aggressive exploration (30,000+ meters drilled recently) to convert resources into mineable reserves.

Products & Services

Manganese Ore (various grades), Ferro Manganese, Electrolytic Manganese Dioxide, and Wind Power.

Brand Portfolio

MOIL (Manganese Ore India Limited).

New Products/Services

Focus is on expanding existing manganese ore grades and value-added products like Electrolytic Manganese Dioxide; specific new launch revenue % not disclosed.

Market Expansion

Targeting increased domestic supply to meet the National Steel Policy goal of 300 million tons of steel production by 2030.

Market Share & Ranking

MOIL is a prominent public sector undertaking and a Schedule 'A' Miniratna Category-I company, indicating a leading position in the Indian manganese ore market.

🌍 External Factors

Industry Trends

The industry is shifting toward higher mechanization and deeper underground mining as surface reserves deplete. MOIL is positioning itself by investing in high-speed shaft sinking and targeting 3.5 MTPA by 2030 to match India's growing steel capacity.

Competitive Landscape

MOIL competes with global manganese miners and domestic private players, maintaining its edge through large-scale integrated operations and government backing.

Competitive Moat

MOIL holds a cost leadership moat due to its extensive domestic reserves and Miniratna status, providing it with preferential access to resources and a strong balance sheet to fund heavy capex (INR 300+ Cr annually).

Macro Economic Sensitivity

Highly sensitive to the steel industry's performance; manganese is a critical input for steel. National Steel Policy targets suggest a long-term demand tailwind.

Consumer Behavior

Demand is driven by industrial steel producers rather than individual consumers; shifts toward higher-grade steel increase the demand for high-quality manganese ore.

Geopolitical Risks

Global pressure on manganese ore prices affects domestic realizations. Trade barriers or global supply shifts in manganese from other regions could impact MOIL's competitive pricing.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by mining regulations, environmental laws, and labor standards. Compliance is managed through regular audits and adherence to the Risk Management Policy.

Environmental Compliance

The company is targeting environmental clearances for 50 lakh tons by 2030 to support its 35 lakh ton production goal. It received the 1st prize for Mines Environment and Mineral Conservation at the Chikla Mine.

Taxation Policy Impact

The company faces a 25-30% effective tax rate (PBT of INR 486.78 Cr vs PAT of INR 381.64 Cr). It is subject to royalties, DMF, and NMET on ore consumption.

Legal Contingencies

The company received an order from the Commissioner (Appeals), CGST & Central Excise regarding Service Tax on Royalty, DMF, and NMET. While a query mentioned a potential INR 2,500 Cr contingent liability for various taxes, management stated there is no direct liability from the recent Supreme Court decision on state-imposed royalty taxes.

⚠️ Risk Analysis

Key Uncertainties

Fluctuations in global manganese ore prices (impacts revenue by ~10% for every major price shift) and the risk of structural collapses or equipment accidents in underground mining.