MOIL Ltd. recorded a manganese ore production of 18.02 lakh tonnes, representing a 2.7% rise year-on-year for financial year 2025.
While the sales of its manganese ore reached 15.87 lakh tonnes, denoting a 3.3% growth, according to an exchange filing on Wednesday.
The company's exploratory core drilling reached 1,07,530 metres, reflecting a 22% increase for the fiscal 2025 compared to the corresponding period last year.
This significant exploration effort will support the expansion of production in existing mines and facilitate the development of new manganese mines nationwide, the filings said.
The Nagpur-based company recorded an 18% increase in ferro manganese production, reaching 12,000 tonnes.
MOIL announced that the October-December quarter of 2024 was its best-ever third quarter. During this period, the company produced 4.6 lakh tonnes of manganese ore while its sales also reached a record high, showing a 13% growth compared to the same quarter last year.
Shares of MOIL closed 1.14% higher at Rs 331.70 apiece on the National Stock Exchange, compared to a 0.72% rise in the benchmark Nifty. The stock has risen 8.95% in the last 12 months and 0.14% on a year-to-date basis.
Five analysts tracking the company have a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 17.4%.
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