MOIL registers record May production, registers growth of 43% y-o-y

MOIL has achieved best May manganese ore production of 1.53 lakh tonnes in May 2023, registering a substantial growth of 43 percent over corresponding period last year (CPLY).

At sales front also, MOIL has recorded impressive performance in May'23 and registered sales of 1.53 lakh tonnes during the month, with a growth of 72 percent over May, 2022.

The company has also achieved best ever monthly production of Electrolytic Manganese Dioxide (EMD) in May'23. EMD is a 100% import substitution product, used mostly for pharmaceuticals and manufacturing of batteries.

After relining and capital repairs, Ferro Manganese plant was also recommissioned for production in May, 2023.

Shri Ajit Kumar Saxena, CMD MOIL, shared that it is very heartening to see MOIL team coming together to register a historic performance and expressed confidence that the same will be continued in future to pave the way for achieving record production with double digit production growth in FY'24.

Shares of MOIL Limited was last trading in BSE at Rs. 159.05 as compared to the previous close of Rs. 155.20. The total number of shares traded during the day was 52418 in over 1136 trades.

The stock hit an intraday high of Rs. 161.10 and intraday low of 155.20. The net turnover during the day was Rs. 8325936.00.

Source : Equity Bulls

Keywords

MOIL INE490G01020 Mining ManganeseOre Production May2023 RecordMay