MOIL Limited — Updates, 02-12-2024: Press Release

In its latest press release, MOIL has reported impressive achievements for November 2024, marking its best performance for the month to date. The company recorded production of 1.63 lakh tonnes of manganese ore, representing an 8.46% increase in production to 11.80 lakh tonnes for the first eight months of FY25 compared to the same period last year. Sales figures also demonstrated strong growth, with November sales reaching 1.33 lakh tonnes, up 32% year-on-year. Cumulatively, sales over the same eight-month period totaled 9.90 lakh tonnes, an increase of 4.76% from the previous year. Additionally, MOIL has surpassed a turnover of Rs. 1,000 crore, achieving this milestone earlier than last year. The company has ramped up its exploration efforts, completing exploratory core drilling of 63,654 meters, 1.28 times greater than last year. CMD Ajit Kumar Saxena expressed optimism about maintaining this momentum and expects a successful financial year ahead. Positive outlook for continued growth and operational efficiency.