MOIL Limited has incorporated a joint venture company with Madhya Pradesh State Mining Corporation Limited (MPSMCL) to expand its manganese ore mining operations in Madhya Pradesh. The new entity, MOIL MPSMCL MINING LIMITED, was incorporated on June 4, 2026, and has been allotted Corporate Identification Number U07293MP2026GOI084604. This strategic move aims to leverage the combined expertise of both state-owned entities to strengthen mining capabilities in the region.

The joint venture is a subsidiary of MOIL Limited, which holds a 51% stake, while MPSMCL owns the remaining 49%. The incorporation follows necessary approvals from the Department of Investment and Public Asset Management (DIPAM) and the Ministry of Steel. The nature of consideration for the subscription is cash, with MOIL subscribing to 1,02,000 equity shares of INR 10 each.

Key Details of the Joint Venture

The following table outlines the specific details regarding the incorporation and shareholding structure of the new entity:

The joint venture will focus exclusively on the mining of manganese ore in Madhya Pradesh, aligning with MOIL's core business operations. The necessary governmental and regulatory approvals have already been secured, facilitating the smooth establishment of the new company.

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.