MOIL Limited, a Government of India Enterprise headquartered at MOIL Bhavan, Nagpur, has formally notified the stock exchanges of changes in its senior management, effective 01.08.2026. The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and pertains to personnel defined under Regulation 16(1)(d) of SEBI (LODR), 2015.

Senior Management Changes at a Glance

The company communicated three distinct changes in its senior management structure. The following table summarises the personnel involved, their designations, and the reasons for the respective changes:

Key Highlights of the Changes

• Shri Sanjay Chaudhari, serving as General Manager (Materials), has retired from service on account of superannuation effective 01.08.2026.
• Smt. Gurupreet Patel, Deputy General Manager (Finance), has been transferred to another department within the organisation.
• Ms. Akanksha Singh, a Chartered Accountant, has been designated as General Manager (Finance) and additionally appointed as Internal Auditor and Head of Department of the Internal Audit department.

Regulatory Disclosure

The communication was addressed to the General Manager (Listing) at the National Stock Exchange of India Ltd and the Listing Department of Bombay Stock Exchange Limited. The disclosure was signed and submitted by Neeraj Dutt Pandey, Company Secretary and Compliance Officer of MOIL Limited, on 01.08.2026.

MOIL reported a 70% year-on-year increase in net profit to ₹87.62 crore for the quarter ended June 30, 2026, driven by higher manganese ore sales volumes and improved operational efficiency. The Government of India enterprise posted revenue from operations of ₹370.88 crore, up 7% from ₹348.06 crore in the corresponding quarter of FY26. Profit before tax (PBT) rose sharply by 75% to ₹111.62 crore from ₹63.82 crore, reflecting strong margin expansion alongside top-line growth. EBITDA for the quarter surged to ₹136 crore from ₹78.8 crore in the year-ago period, with the EBITDA margin expanding significantly to 36.60% from 22.64%, underscoring a marked improvement in operating profitability.

Financial Performance

The Board of Directors approved the unaudited standalone financial results on July 29, 2026. Statutory auditors TACS & Co. reviewed the results in accordance with Standard on Review Engagement (SRE) 2410. Total revenue increased by 6% to ₹391.13 crore compared to ₹370.52 crore in Q1FY26. Other income stood at ₹20.25 crore, slightly lower than the ₹22.47 crore recorded in the prior year period. The key financial metrics for the quarter are summarised below:

Operational Highlights

Manganese ore production stood at 507,605 metric tons (MT), marking a 1% increase over the 502,260 MT recorded in Q1FY26. Sales volumes also improved, reaching 369,049 MT, up 4% from 356,196 MT in the same period last year. This volume growth was a key driver behind the revenue expansion, supporting the company's position as the largest producer of manganese ore in the country.

Segment and Auditor Observations

The mining products segment remained the primary contributor, generating segment revenue of ₹360.08 crore and contributing ₹87.18 crore to segment results, compared to ₹32.02 crore in Q1FY26. The manufactured products segment saw a decline in contribution, with segment results dropping to ₹1.23 million from ₹56.70 million.

Statutory auditors TACS & Co. highlighted several matters without modifying their opinion. They noted that capital expenditure of ₹115.76 lakh for exploration activities related to a proposed joint venture with Chhattisgarh Mineral Development Corporation (CMDIC) was recognized as Work-in-Progress – Exploration, though they suggested it should be classified under Other Non-Current Assets. Similarly, ₹76.53 lakh incurred for exploration with Gujarat Mineral Development Corporation (GMDC) was classified as Investment but recommended reclassification.

A significant contingent liability of ₹173.16 crore was disclosed regarding environmental clearance capacity expansion violations at the Tirodi Mine. The Collector, Balaghat, imposed a penalty of ₹167.71 crore plus ₹5.45 crore in economic benefits. Although the Supreme Court had stayed the matter, the stay was recalled on November 18, 2025. The auditors opined that a provision of ₹5.20 crore should be recognized, with the balance remaining as a contingent liability.

What the Numbers Show

The divergence between the 7% revenue growth and the 70% profit surge, alongside the EBITDA margin expansion from 22.64% to 36.60%, indicates significant operating leverage. The mining segment's contribution to segment results more than doubled, while the manufactured products segment declined, highlighting a concentration of profitability in core mining activities. This margin expansion suggests that fixed costs were effectively absorbed by higher volumes, boosting overall efficiency.