MOIL Share Price Today: Shares of public-sector undertaking (PSU) MOIL Ltd rallied 19 per cent to hit a lifetime record-high mark during intra-day on Friday, May 17 after delivering a strong performance in the January-March quarter and in the entire fiscal year 2023-24 (Q4FY24). MOIL emerged as one of the top gainers on BSE earlier today. The PSU stock has given multibagger returns to investors over the last one-to-three year time periods, as per exchange data.
The recent surge in shares came as India’s leading manganese ore producer reported a rise of 12.6 per cent in net profit at ₹91 crore during the March quarter of FY24, compared to ₹81 crore in the year-ago period. The revenue from operations dropped 2.8 per cent to ₹416 crore, compared to ₹428 crore in the year-ago period.
MOIL Q4 Results
On the operating level, MOIL’s earnings before interest, taxes, depreciation, and amortization (EBITDA) in the March quarter dropped 3.2 per cent to ₹128 crore, compared to ₹132.6 crore in the same period last year. Margin came in at 30.8 per cent in Q4FY24 compared to 31 per cent in the year-ago period.
The strong performance can be attributed to the rising prices of manganese ore, coupled with its strong sales and production figures. Last month, the company implemented a price revision for various grades of manganese ore and other products, resulting in increases ranging from three per cent to six per cent.
MOIL has achieved its highest-ever production volume since its inception, totaling 17.56 lakh tonnes in FY24, marking a significant 35 per cent year-on-year (YoY) growth. This surpasses the previous record of 13.64 lakh tonnes set in FY 2007–08 by 29 per cent.
Similarly, on the sales front, the company achieved its best-ever sales figures, reaching 15.36 lakh tonnes in FY24, indicating impressive 30 per cent YoY growth. This exceeds the previous record of 13.92 lakh tonnes set in FY 2007-08 by 10 per cent.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download The Mint News App to get Daily Market Updates.
Published: 17 May 2024, 06:53 PM IST
