Manganese Producer touched Intraday High up 4.17 per cent: Reports Best Ever February Production and Sales

Besides its strong production figures, the company has announced a revision in manganese ore prices, effective March 1, 2025

Shares of MOIL Ltd, a leading manganese ore producer, shares surged 4.17 per cent in early trading on Monday, reaching an intraday high of Rs 302.55 on the Bombay Stock Exchange (BSE). However, by 12:35 PM, the stock trimmed its gains, trading up by 0.60 per cent at Rs 292.20 per share. The company’s market capitalisation currently stands at Rs 5,859 crore.

The stock movement comes after the company announced a price revision for various grades of manganese ore and other products, effective April 1, 2025. The company also disclosed record-breaking production figures for February 2025, reinforcing its position as a key player in the industry.

The company has achieved its best-ever February production, continuing its strong growth trajectory. In February 2025 alone, it produced an all-time high of 1.53 lakh tonnes of manganese ore. Additionally, it recorded 11,455 meters of exploratory core drilling, reflecting a remarkable 43 per cent increase over the corresponding period last year.

For the April-February 2025 period, the company registered significant operational achievements:

• Total sales: 14.32 lakh tonnes, a 3 per cent rise over YoY.
• Exploratory core drilling: 94,894 meters, a 20 per cent increase over YoY.

In addition to its strong production figures, the company has announced a revision in manganese ore prices, effective March 1, 2025. The key price adjustments are as follows:

• Prices of high-grade manganese ore (44 per cent Mn and above) have been increased by 10 per cent from February 2025 levels.
• Prices of lower-grade manganese ore (below 44 per cent Mn) have been increased by 6.5 per cent.
• Prices of chemical-grade manganese ore have been raised by 6.5 per cent.
• Prices for SMGR (30 per cent Mn and below) and fines grades remain unchanged from February 2025.
• The introductory price for Electrolytic Manganese Dioxide (EMD) remains steady at Rs 2,05,000 per metric tonne.

The company’s operational success and pricing strategy indicate strong demand for manganese ore, a key raw material in steel production and battery manufacturing. As the demand for electric vehicles (EVs) and high-quality steel continues to grow, the company is well-positioned to capitalize on these trends.

Apart from its core mining operations, the company has also ventured into renewable energy by setting up wind farms in Madhya Pradesh, diversifying its portfolio beyond manganese production.

So far in 2024, the stock has delivered an impressive rally of over 52 per cent on a year-to-date basis, reflecting investor confidence in its growth trajectory. With strong fundamentals and an expanding market, the company appears poised for further progress in the coming financial year.

Disclaimer: This article is for informational purposes only and should not be considered investment advice.