MOIL Limited has reduced the prices of various grades of Manganese Ore effective June 1, 2026, impacting revenue for the quarter starting April 2026. The price revision covers Ferro grades, Chemical grades, SMGR grades, and Fines, with reductions ranging from 5% to 10% based on the ore quality and specific codes. This adjustment follows the company's standard business practice of periodic price fixation and revision.

The company communicated this change to the National Stock Exchange of India Ltd and Bombay Stock Exchange Limited under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Neeraj Dutt Pandey, Company Secretary & Compliance Officer, signed the disclosure confirming the new rates applicable from the midnight of May 31, 2026.

Price Revision Details

The price cuts vary depending on the Manganese content and the specific grade of the ore. While most grades saw a reduction of 5% to 6%, specific ore codes experienced steeper declines or continued at previous rates.

Electrolytic Manganese Dioxide Rates

Unlike the Manganese Ore grades, the prices for Electrolytic Manganese Dioxide (EMD) products remained stable for the month of June 2026. The company maintained the basic price for these products at the levels established in the previous period.

MOIL Limited has requested the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) to waive fines of ₹5,31,000 each imposed for non-compliance with Board composition regulations during the quarter ended 31st March, 2026. The company, a Government of India Enterprise, argued that the non-compliance stemmed from the non-appointment of Independent Directors by the President of India, a factor beyond its control. The Board of Directors, in its meeting held on 29.04.2026, advised the company to pursue the matter with the Ministry of Steel and request the exchanges to waive the penalties.

Details of Regulatory Action

The exchanges initially communicated the fines on 27.05.2026 under Regulation 17(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. MOIL Limited stated that all directors are appointed by the President of India through the Ministry of Steel, and the company has been sending letters to the Ministry to make the requisite appointments. The company cited the NSE uniform carve-out policy, which allows for waivers when a Board is unable to approve compliances due to positions not being filled as approval is pending from a regulator or ministry.

The company confirmed that the penalties do not impact its financial, operational, or other activities. The filing was signed by Neeraj Dutt Pandey, Company Secretary and Compliance Officer of MOIL Limited.