MOIL Registers historical performance in FY'24

MOIL Registers historical performance in FY'24

New Delhi: The Board of Directors of MOIL approved financial results for the fourth quarter and year ended on 31st March 2024.

• For FY’24, the financial year, MOIL recorded highest ever production of manganese ore since its inception at 17.56 lakhs tonnes, 35% higher than FY’23.
• Achieved its best ever sales of 15.36 lakh tonnes in FY’24, registering a remarkable growth of 30% y-o-y.
• Registered record turnover at Rs. 1449.42 crore with a growth of 8% y-o-y.
• Achieved best ever production of Electrolytic Manganese Dioxide (EMD) higher by 28% y-o-y.
• Profit before tax (PBT) and profit after tax (PAT) of Rs. 387 crores and Rs. 293 crores respectively during FY’24, registering a growth of 16% and 17% respectively despite lower NSR on account of market conditions.

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• Achieved a record capital expenditure (CAPEX) of Rs. 316 crores in FY'24, which is more than its the net profit (PAT) of the year.
• Carried out best ever exploration core drilling of 87,661 meters in FY’24 registering record growth of more than 100% in comparison to previous year.
• In the fourth quarter of FY’24, MOIL produced 4.83 lakh tonnes of manganese ore, achieving a growth of 20% over corresponding period last year (CPLY).
• Sales during the fourth quarter also improved to 4.35 lakh tonnes, up by 11% over CPLY.
• The Board recommended final dividend of Rs. 2.55 per share. Thus, total dividend for the year is Rs. 6.05 per share for the year (including paid interim dividend of Rs. 3.50 per share). This is 64% then last years’ total dividend. 

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On this occasion, Shri Ajit Kumar Saxena, CMD MOIL, reiterated that the company is forward-looking and is fully committed towards investing in its expansion and growth.

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