Synopsis: A PSU manganese ore producer has revised the prices of various grades of manganese ore for March 2026. The revision includes price increases for several ferro and chemical grade products, while some grades have been kept unchanged. The changes will be effective from March 1, 2026, and reflect adjustments across different categories of manganese ore supplied by the company.
The shares of miniratna state-owned enterprise, which is also India’s largest manganese ore producer and also holds around 50 percent market share jumped upto 3 percent after revising the prices for various grades of manganese ore.
With the market capitalization of Rs. 6031 Crores, the shares of MOIL Ltd reached an intraday high of Rs. 296.50 per share, raising nearly 3 percent from its previous day close of Rs. 288.85 per share and is trading at a P/E of 20.7 whereas industry P/E stands at 16.6
News
The company has increased the prices of all ferro grades of manganese ore with manganese content of 44 percent and above by 2 percent for March 2026 compared with the prices that were in effect from February 1, 2026. Similarly, ferro grades with manganese content below 44 percent have also seen a 2 percent increase. The price of SMGR grade manganese ore with 30 percent manganese content has been raised by 2 percent, while prices of SMGR (Mn 25 percent) grades and fines have been kept unchanged. Chemical grade manganese ore prices have also been increased by 2 percent
Meanwhile, SMGR (Mn 20 percent) grades have largely been continued at previous levels except for the BGL509 grade, which has seen a 10 percent price increase. In the metal mandi fines category, DBF575 and MSF592 prices remain unchanged, while the UKF532 grade has seen a 10 percent increase. In addition, the basic price of Electrolytic Manganese Dioxide (EMD) has been reduced by Rs. 10,000 PMT, bringing it down from Rs. 1,90,000 per PMT to Rs.1,80,000 PMT, effective from midnight of February 28–March 1, 2026.
Financials
MOIL Limited is one of India’s largest producers of manganese ore and is mainly engaged in the mining of manganese. The company operates across a total leasehold mining area of about 1,940.74 hectares. It has received approval for an additional environmental clearance (EC) capacity of 1,90,000 tonnes per annum, taking its total EC-backed capacity to 26,78,792 tonnes per annum as of March 31, 2025.
During FY25, the company carried out 1,07,530 metres of exploratory drilling and added 16.07 million tonnes of manganese ore resources, compared with 7.78 million tonnes added in FY24. The company reported capital expenditure of Rs. 321.94 crore in FY25 and has planned a capex of around Rs. 325 crore for FY26.
Year on Year analysis: Revenue from operations has decreased from Rs. 367 Crores to Rs. 360 Crore, down 1.90 percent. Operating profit has increased from Rs. 95 Crore to Rs. 97 Crore, up 2.1 percent and net profit has decreased from Rs. 64 Crore to Rs. 53 Crore, down 17.18 percent.
Quarter on quarter analysis: Revenue from operations has increased from Rs. 348 Crores to Rs. 360 Crores, up 3.4 percent. Operating profit has decreased from Rs. 100 Crore to Rs. 97 Crore, down 3 percent and net profit has decreased from Rs. 70 Crore to Rs. 53 Crore, down 24 percent.
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