Stock Fundamentals

Reality Check - MOIL

Satya Sontanam | Updated on February 25, 2019 Published on February 25, 2019

MOIL: Profits up

The stock of State-owned manganese-ore mining company MOIL is down by about 12 per cent in the last month. This seems to be largely on account of lower-than-estimated sales volumes and realisations in the December 2018 quarter. Though the total sales volumes were down by 3 per cent Y-o-Y to 8.37 lakh tonne, revenue and operating profit grew at a healthy 11 per cent and 20 per cent to ₹332 crore and ₹185 crore respectively, aided by reduced costs.

Net profit for the quarter stood at ₹120 crore, 16 per cent higher Y-o-Y.

While realisations of non-fines and fines increased 8 per cent and 4 per cent Y-o-Y, it remained flat over the previous quarter. The company has announced price cuts over the last two months across various grades to boost sales in the fourth quarter of FY19. Demand for manganese ore, a key input for steel, will be impacted if the outlook for the latter turns weak.

Read further by subscribing to

The Hindu Businessline

What You'll Get

  • Web + Mobile

    Access exclusive content of the Hindu Businessline across desktops, tablet and mobile device.

  • Exclusive portfolio stories and investment advice

    Gain exclusive market insights from the Hindu Businessline's research desk.

  • Ad free experience

    Experience cleaner site with zero ads and faster load times.

  • Personalised dashboard

    Customize your preference and get a personalized recommendation of stories based on your intrest.

This article is closed for comments.
Please Email the Editor