MOIL records best ever high grade production and sales of manganese ore in FY22; Stock gains 1.5%

4 Apr 2022 , 10:15 AM

FY22 has been one of the best years of performance in the history of MOIL Limited as its turnover has almost touched the highest-ever achieved so far in FY19.

The total turnover of the company has been ~ Rs1436 crore in FY22 (provisional) registering growth of ~22% in comparison to previous year’s turnover of Rs1177 crore and is marginally lower than the highest-ever achievement of Rs1441 crore in FY19.

Despite the adverse impact of a second and third wave of Covid-19 affecting the operational activities of the Company for almost two months, MOIL has recorded the above performance. High grade ore production (6.53 lakh MT) and sales (6.65 lakh MT) is also at the highest level. This performance is the result of better product planning, marketing strategy and, most important, efforts put in by employees at all levels.

MOIL has achieved production of 12.31 lakh MT in FY22 as against 11.43 lakh MT in last year, an increase of ~ 8%. Total sales have increased by ~ 6% to 12.12 lakh MT as against 11.43 lakh MT during these periods.

At around 10.18 am, MOIL Ltd was trading at Rs192.40 apiece up by Rs2.85 or 1.5% from its previous closing of Rs189.55 apiece on the BSE.