PSU Manganese Ore India Limited (MOIL) has posted its financial and operational results for the first quarter of FY 2026-27, reporting growth across production, sales and profitability.
Following the announcement, shares of the state-run manganese ore miner surged 8.55% to ₹297.60 on the NSE, extending gains through the morning session.
Profit surges on higher revenue
MOIL’s revenue from operations rose 7% year-on-year to ₹370.88 crore in Q1 FY27, compared to ₹348.06 crore in the corresponding quarter of the previous fiscal. Total revenue, which includes other income, climbed 6% to ₹391.13 crore, against ₹370.52 crore a year earlier.
The company’s profitability improved at an even faster pace than revenue. Profit before tax registered a sharp 75% increase to ₹111.62 crore, up from ₹63.82 crore in Q1 FY26. Profit after tax rose 70% to ₹87.62 crore, compared to ₹51.51 crore in the same period last year, reflecting improved operational efficiency and cost management during the quarter.
Production and sales see steady growth
On the operational front, manganese ore production stood at 507,605 MT during the quarter, a 1% increase over 502,260 MT recorded in Q1 FY26. Manganese ore sales reached 369,049 MT, up 4% from 356,196 MT a year earlier, indicating steady offtake alongside the rise in output.
MOIL is the largest producer of manganese ore in India, and its performance is closely watched as an indicator of demand from the domestic steel and alloys industry, which relies on manganese ore as a key raw material.
Management credits workforce for the performance
Appreciating the efforts of the team, MOIL management said, “These results reflect the dedication and hard work of our entire workforce. The operational discipline and commitment shown by our team have enabled the company to maintain growth across key metrics. As we move forward, MOIL remains focused on improving operational efficiency and meeting the growing requirements of the domestic steel industry.”
The company said its focus going forward would remain on ramping up production capacity and strengthening its supply chain to meet rising demand from downstream industries.
MOIL Limited is a Schedule ‘A’ Miniratna Category-I Central Public Sector Enterprise under the Ministry of Steel, Government of India. It is the largest producer of manganese ore in the country, operating underground and open-cast mines across Maharashtra and Madhya Pradesh.
