MOIL registers best ever half-yearly performance during H1 FY2023-24

Continuing its stellar performance, MOIL has created history by achieving best ever 6-monthly performance during April-September, 2023.

Production of Manganese ore jumped to 8.15 lakh MT in the first half of FY'24, registering a growth of 45% over corresponding period last year (CPLY). Production of 1.35 lakh MT in September month is best ever production for any September month since inception.

On sales front also, best ever 6-monthly performance of 7.57 lakh MT has been registered during April-September 2023, with a remarkable growth of 54% percent over CPLY. Sales of 1.56 lakh MT in September, 2023 has also been impressive, with a growth of 60% y-o-y.

Further, MOIL has recorded highest ever production of Electrolytic Manganese Dioxide (EMD) during the first half of the current year, registering a growth of 26% y-o-y. EMD is a 100% import substitution product, used mostly for pharmaceuticals and manufacturing of batteries.

Giving utmost thrust to exploration, MOIL has completed 34,684 meters of exploratory core drilling during April-September, 2023, which is more than three times of CPLY.

On 1st Oct, 2023, Shri Ajit Kumar Saxena, CMD, MOIL visited MOIL mines and personally congratulated a large cross-section of employees for achieving such a remarkable performance. The entire collective was upbeat and exhibited full confidence of continuing the growth trend.

Shares of MOIL Limited was last trading in BSE at Rs. 222.05 as compared to the previous close of Rs. 213.95. The total number of shares traded during the day was 36426 in over 1440 trades.

The stock hit an intraday high of Rs. 224.00 and intraday low of 214.60. The net turnover during the day was Rs. 8024885.00.

Source : Equity Bulls

Keywords

MOIL INE490G01020 Mining HalfYearlyPerformance BestEver H1FY2024