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MOIL Achieves Record October Production with 1.47 Lakh Tonnes, Up 32% YoY

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Synopsis:

MOIL recorded its best-ever October production, achieving 1.47 lakh tonnes of manganese ore, a 32% increase YoY. Total FY25 production so far reached 10.17 lakh tonnes, boosting MOIL share price.

MOIL news today

MOIL Ltd., India’s largest manganese ore producer, marked an impressive production achievement in October 2024 with a 32% year-on-year increase, producing a record-breaking 1.47 lakh tonnes of manganese ore. This surge reflects the company’s strongest October production since its inception, reinforcing MOIL's significant position in the industry and contributing positively to the MOIL share price.

MOIL LIMITED

Trade

287.95-1.84 (-0.63 %)

Updated - 21 November 2024
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Key takeaways:

  • October production reached 1.47 lakh tonnes, marking a 32% year-on-year growth.

  • Cumulative FY25 production for the first seven months hit 10.17 lakh tonnes, up by 10%.

  • October sales also surged, achieving a record 1.06 lakh tonnes, a 21% increase YoY.

  • Exploration drilling reached 57,071 metres, up 1.4 times compared to last year.

Also read: Tata Power Partners with Noida Airport for ₹550 Cr Renewable Energy Project.

October production and sales performance

In a strong production month, MOIL recorded 1.47 lakh tonnes of manganese ore in October 2024. Alongside this record production, MOIL registered a remarkable increase in sales for October, with a total of 1.06 lakh tonnes sold—a 21% year-on-year growth. This boost in both production and sales is a positive development for MOIL’s fiscal progress and could provide upward momentum for the MOIL share price.

For the first seven months of the financial year 2025, MOIL’s total manganese ore production reached 10.17 lakh tonnes, representing a 10% increase over the same period last year. This performance indicates MOIL’s strong operational efficiency and its potential for sustained growth in the remaining months of FY25.

Also read: Mahindra & Mahindra Raises Fy25 Tractor Growth Forecast Amid Strong Q2 Results.

Enhanced exploration activities

MOIL’s strategic focus on expanding its resource base has led to an uptick in exploration activities. Between April and October 2024, the company completed 57,071 metres of core drilling, a significant increase from the previous year’s figure. This exploration growth not only enhances resource availability but also strengthens MOIL’s production capacity, likely reinforcing the MOIL share price outlook.

Metrics

Values

Manganese Ore Production

1.47 lakh tonnes

Production Growth (YoY)

32%

October Sales

1.06 lakh tonnes

Sales Growth (YoY)

21%

FY25 Total Production (Apr-Oct)

10.17 lakh tonnes

Exploration Drilling (Apr-Oct)

57,071 metres

Also read: Fed Cuts Rate by 25 Bps to 4.5-4.75% to Support Cooling Economy.

Market outlook and MOIL share price impact

The consistent increase in production and exploration reflects MOIL’s robust strategy to maintain and grow its leadership in the manganese ore sector. As the company continues to improve operational efficiencies and expand exploration, these developments are expected to positively impact the MOIL share price. The strengthened production figures and record sales underscore MOIL's resilience and potential for further growth.

MOIL’s record production and expanding exploration activities reinforce its industry standing. With ongoing advancements, the MOIL share price is likely to benefit, highlighting the company’s commitment to sustainable growth and sector leadership.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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