MOIL achieves record November performance, boosts FY25 growth prospects

MOIL Limited, a leading manganese ore producer and a Government of India enterprise, has set new benchmarks in operational efficiency and output. In November 2024, the company achieved its highest-ever manganese ore production for the month, recording 1.63 lakh tonnes. This milestone highlights the company’s record-breaking performance in November and strengthens its consistent upward trajectory in both production and sales growth FY25.

Between April and November 2024, MOIL reported cumulative manganese ore production of 11.80 lakh tonnes, a significant 8.46% increase compared to the same period last year. This consistent focus on scaling manganese ore production has been complemented by a record-breaking performance in sales. The company recorded its best-ever November sales, achieving 1.33 lakh tonnes, which reflects a remarkable 32% year-over-year increase. Overall, sales growth FY25 remains robust, with cumulative sales reaching 9.90 lakh tonnes, up 4.76% over the corresponding period of FY24.

The financial momentum achieved by MOIL underscores this operational success. Within just eight months of FY25, the company surpassed a turnover of ₹1,000 crore. Achieving this milestone earlier than in the previous fiscal year highlights the record-breaking performance November delivered for the company.

MOIL’s focus on exploration drives growth

A pivotal element in MOIL’s growth strategy has been its unwavering commitment to exploration. The company reported carrying out 63,654 meters of exploratory core drilling between April and November 2024, representing a 1.28 times increase over the comparative period last year. This focus on exploratory core drilling aligns with MOIL’s broader goal to sustain long-term manganese ore production growth and meet rising industry demand.

Ajit Kumar Saxena, Chairman and Managing Director of MOIL, stated that the company’s ability to maintain its upward momentum in manganese ore production and sales is heartening. He affirmed that the entire MOIL team is prepared to deliver yet another successful financial year, driven by its record-breaking performance November results and robust sales growth FY25 projections.

A promising outlook for FY25

MOIL’s record-breaking performance in November has created a strong foundation for the remainder of FY25. With an aggressive focus on manganese ore production, exploratory core drilling, and best-ever November sales achievements, the company is well-positioned to sustain its positive trajectory. Stakeholders and investors can look forward to continued growth as MOIL leverages its operational excellence and explores new opportunities to drive sales growth FY25.