MOIL posts record September output, Q2 production up 10.3%

India’s state-owned manganese producer MOIL Ltd on Friday reported its best-ever September production at 1.52 lakh tonnes, up 3.8% from a year earlier, supported by higher output and drilling activity.Quarterly production for July–September rose 10.3% year-on-year to 4.42 lakh tonnes, while sales climbed 18.6% to 3.53 lakh tonnes, the company said in an exchange filing.

Exploratory core drilling surged 46% in September to 5,314 metres and touched a record 21,035 metres for the quarter, up 4.1% from last year. “The growth achieved across key parameters underscores MOIL’s commitment to strengthening its operational excellence and ensuring long-term sustainability,” Chairman and Managing Director Ajit Kumar Saxena said.

Nagpur-headquartered MOIL, formerly Manganese Ore (India) Ltd, is the country’s largest producer of manganese ore, a key raw material in steelmaking.The company, under the Ministry of Steel, operates 11 mines in Maharashtra and Madhya Pradesh and accounts for about 40% of India’s domestic manganese output.

Shares of MOIL ended 6.2% at ₹391.45 on the BSE. In the last six months, the stock rose nearly 17% and year-to-date, the stock is up nearly 13%.