MOIL logo

MOIL

MOIL NSE

Key Fundamentals

MicrocapIndustrial MineralsMetals & Mining
Market Cap
₹4,996 Cr
Volatility
Moderate
P/E Ratio
16.42
EBITDA
₹437 Cr
Return on Equity
8.98%
Debt to Equity
0
Book Value
₹133.14
EPS
₹17.65
52W High
₹404.9
52W Low
₹242.35

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 37.5%

Weaknesses

2
  • The company has delivered a poor sales growth of 4.63% over past five years.
  • Company has a low return on equity of 12.1% over last 3 years.

Growth Rate

Revenue Growth
-25.28% lower than 3Y
Net Income Growth
-48.13% lower than 3Y
Cash Flow Change
-86.32% higher than 3Y
ROE
-42.14% lower than 3Y
ROCE
-47.63% lower than 3Y
EBITDA Margin (Avg.)
-26.23% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 44d ago
AI opinion · based on fundamentals
Risk medium

MOIL Ltd is India's largest manganese ore producer with approximately 50-53% domestic market share, trading at a market cap of ₹5,786 Cr with a PE of 19.3x. The company is virtually debt-free and achieved record production in FY25, but revenue growth has been sluggish at 5% TTM and 5-year sales CAGR of just 5%, while the stock has declined 16% over the past year.

Bull Case 8
  • Dominant market position with ~50-53% share of India's domestic manganese ore production, providing significant pricing power
  • Virtually debt-free balance sheet gives financial flexibility and resilience through commodity cycles
  • Consistent dividend payout of 37.5% with current yield of 1.85%, providing shareholder returns even in weak periods
  • Record-breaking production in FY25 with India's manganese ore industry growing 11% YoY to 3.75 million tonnes, benefiting the market leader
  • Ambitious capacity expansion targeting 3.50 million tonnes production by FY30 and market share increase from 20% to 32% of total industry
  • India's infrastructure push in roads, railways, and metros expected to fuel strong steel demand, directly benefiting manganese ore consumption
  • Price-to-book ratio of 2.17x is moderate for a mining monopoly with no debt and consistent profitability
  • Q1 FY26 net profit surged 70% YoY on improved manganese ore realisations, showing earnings recovery potential
Bear Case 8
  • Poor revenue growth with 5-year compounded sales CAGR of only 5% and 3-year CAGR of just 3%, reflecting limited volume scalability
  • Return on equity has declined from 13% (5-year average) to 10% last year, indicating deteriorating capital efficiency
  • Stock has underperformed with -16% return over the past 1 year despite broader market gains
  • Compounded profit growth of only 4% over 10 years shows structural inability to scale earnings meaningfully
  • Commodity-dependent business with manganese ore prices subject to global steel cycle volatility and Chinese demand fluctuations
  • 3-year ROE of only 12.3% is low for a mining company with monopolistic domestic position and no debt
  • PE of 19.3x appears elevated relative to the sluggish single-digit earnings growth profile of 5% over 5 years
  • Government-owned PSU with potential for sub-optimal capital allocation and limited management flexibility on pricing and expansion

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 42d ago
Positives 3
  • Q1 net profit surges 70% YoY Jul 30

    MOIL posted Q1FY27 net profit of ₹87.62 crore, up 70% YoY, with EBITDA margin expanding sharply to 36.60% from 22.64% driven by higher manganese ore sales and operating leverage.

  • Revenue grows 7% in Q1FY27 Jul 30

    Revenue from operations rose 7% YoY to ₹370.88 crore while EBITDA jumped to ₹136 crore from ₹78.8 crore in the year-ago quarter.

  • Higher production and sales volumes Jul 7

    Q1FY27 production rose to 5.08 lakh MT from 5.02 lakh MT and sales increased to 3.68 lakh MT from 3.56 lakh MT YoY, indicating steady demand.

Neutral 4
  • Senior management changes Aug 2026 Aug 1

    GM (Materials) Sanjay Chaudhari retired on superannuation and Ms. Akanksha Singh designated as GM (Finance) and Internal Auditor effective August 1, 2026.

  • New GM Electrical appointed Jul 15

    Shashank Lohakare appointed as General Manager (Electrical) effective July 15, 2026 under company service rules.

  • Independent Director appointed Jul 15

    Government of India appointed Smt. Sonali Sanjit Nagvenkar as Non-Official Independent Director for a three-year term.

  • Promoter declares no encumbrance Jul 8

    Governor of Maharashtra confirmed no MOIL shares were encumbered directly or indirectly during FY26, filed under SEBI regulations.

TL;DR: MOIL delivered a strong Q1FY27 with 70% profit growth and significant margin expansion to 36.60%, supported by higher manganese ore volumes. No material headwinds are visible in recent news flow, and governance actions appear routine. The operational trend is clearly improving with both production and sales volumes ticking up, suggesting continued momentum into the coming quarters.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
380
348
306
416
493
292
367
433
348
348
348
444
371
Expenses
256
251
217
288
279
213
272
294
269
249
250
305
235
Operating Profit
124
96
89
128
214
79
95
140
79
100
97
139
136
OPM %
33%
28%
29%
31%
43%
27%
26%
32%
23%
29%
28%
31%
37%
Other Income
26
20
23
24
27
27
33
25
22
30
17
23
20
Interest
0
0
0
0
0
0
0
0
0
0
0
0
0
Depreciation
33
35
37
39
36
38
39
39
37
40
44
48
44
PBT
116
82
76
113
204
68
89
125
64
90
70
114
112
Tax %
25%
25%
29%
19%
25%
27%
28%
8%
19%
22%
24%
19%
22%
Net Profit
87
62
54
91
152
50
64
116
52
70
53
93
88
EPS in Rs
4.25
3.02
2.66
4.48
7.49
2.46
3.13
5.68
2.53
3.46
2.6
4.55
4.31
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
822
632
978
1,314
1,438
1,034
1,172
1,433
1,339
1,447
1,582
1,470
1,511
Expenses
443
562
679
781
842
779
882
891
970
1,010
1,055
1,055
1,039
Operating Profit
379
71
298
533
596
256
290
541
369
438
528
415
472
OPM %
46%
11%
31%
41%
41%
25%
25%
38%
28%
30%
33%
28%
31%
Other Income
317
252
221
178
191
181
49
86
80
94
111
93
91
Interest
0
0
3
0
0
0
0
1
0
0
0
0
0
Depreciation
45
52
55
62
67
96
99
103
114
144
152
170
177
PBT
651
270
462
648
720
340
240
523
334
387
487
338
386
Tax %
34%
36%
34%
35%
34%
27%
26%
28%
25%
24%
22%
21%
—
Net Profit
428
173
306
422
474
248
177
377
251
293
382
267
304
EPS in Rs
12.74
5.15
11.48
16.38
18.4
10.46
7.44
18.53
12.31
14.42
18.76
13.14
14.92
Div. Payout %
33%
49%
48%
34%
33%
57%
99%
32%
30%
42%
30%
41%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
168
168
133
258
258
237
237
203
203
203
203
203
Reserves
3,214
3,285
2,672
2,542
2,825
2,526
2,583
1,938
2,041
2,250
2,434
2,506
Borrowings
0
0
0
0
0
0
0
0
0
0
0
0
Other Liabilities
266
275
287
441
526
538
570
438
448
436
574
496
Total Liabilities
3,648
3,728
3,092
3,241
3,609
3,301
3,390
2,580
2,692
2,889
3,211
3,206
Fixed Assets
294
311
326
348
430
587
663
676
852
926
920
1,051
CWIP
53
80
116
238
297
242
203
314
271
357
507
502
Investments
0
0
0
24
115
7
331
232
151
128
78
24
Other Assets
3,301
3,337
2,650
2,631
2,767
2,465
2,194
1,358
1,418
1,478
1,707
1,629
Total Assets
3,648
3,728
3,092
3,241
3,609
3,301
3,390
2,580
2,692
2,889
3,211
3,206
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
28
-24
118
529
424
58
291
360
212
253
434
157
Investing
181
145
-588
-397
-254
687
-360
693
-102
-141
-338
-14
Financing
-171
-101
-81
-213
-173
-562
-131
-1,033
-122
-85
-134
-141
Net Cash Flow
37
20
-550
-82
-3
184
-200
20
-12
27
-37
2
Free Cash Flow
-67
-122
12
322
215
-142
154
130
-37
-63
112
-169
CFO/OP
58
105
93
142
116
58
122
92
82
82
106
48
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
48
82
90
53
33
47
71
44
39
53
34
35
Inventory Days
—
—
596
—
—
—
405
—
—
—
—
—
Days Payable
—
—
203
—
—
—
107
—
—
—
—
—
Cash Conversion Cycle
48
82
482
53
33
47
369
44
39
53
34
35
Working Capital Days
63
95
84
6
-23
11
-21
-1
15
50
44
52
ROCE %
20%
8%
15%
23%
24%
11%
10%
20%
15%
16%
19%
12%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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61 extracted metrics + investor summaries across FY10–FY26.

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Shareholding Pattern

FIIs3.73%Promot.64.68%Others3.85%DIIs6.82%Public20.91%As ofJun 2026

Documents

Frequently Asked Questions about MOIL

What does MOIL Ltd do?
MOIL Ltd is primarily engaged in mining of manganese ore and is the largest manganese ore producer in the country.[1] It is a miniratna state-owned company owned by Govt. of India.[2]
Where is MOIL Ltd (MOIL) listed?
MOIL Ltd trades as MOIL on the NSE and under code 533286 on the BSE.
Which sector does MOIL Ltd belong to?
MOIL Ltd is classified under the Metals & Mining sector, in the Industrial Minerals industry.
What is the market capitalisation of MOIL Ltd?
MOIL Ltd has a market capitalisation of ₹4,996 Cr, which places it in the Small Cap band.
What is the PE ratio of MOIL Ltd?
MOIL Ltd trades at a PE ratio of 16.42, on earnings per share of ₹17.65, against a book value of ₹133.14 per share.
What is the 52-week high and low of MOIL Ltd?
Over the last 52 weeks MOIL Ltd has traded between ₹242.35 and ₹404.9.
Does MOIL Ltd pay dividends?
MOIL Ltd has a dividend yield of 2.13%.
What is the Return on Equity (ROE) of MOIL Ltd?
MOIL Ltd reported a return on equity of 8.98%. Its debt-to-equity ratio is 0.00.

Company Information

MOIL Ltd is primarily engaged in mining of manganese ore and is the largest manganese ore producer in the country.[1] It is a miniratna state-owned company owned by Govt. of India.[2]

Website moil.nic.in
CEO Mr. Rakesh Tumane
Employees 5,250
Listed 2010-12-15
Face Value ₹ 10
Issued Size 20,34,85,211

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