PAT up by 17%

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

In FY’24, MOIL recorded its highest ever production of manganese ore since its inception at 17.56 lakhs tonnes which is 35% higher than FY’23. Some of the other highlights of FY 24 include:

• Achieved its best ever sales of 15.36 lakh tonnes in FY’24, registering a  growth of 30% y-o-y.
• Registered record turnover at Rs. 1449.42 crore a growth of 8% y-o-y.

• Achieved best ever production of Electrolytic Manganese Dioxide (EMD) higher by 28%
• 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.
• Achieved a record capital expenditure (CAPEX) of Rs. 316 crores in FY’24, which is more than its 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 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 
• 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). 

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