MOIL Limited, a Government of India Enterprise, has reported exceptional performance in August, setting new records in production and sales while also announcing changes in its senior management.

Record-Breaking Production and Sales

MOIL has achieved its highest-ever August production, reaching 1.45 lakh tonnes. This represents an impressive 17% growth compared to the same period last year. The company's sales performance was equally strong, with 1.13 lakh tonnes sold, marking a substantial 25.6% year-on-year increase.

Sustained Growth

The company's strong performance extends beyond August. For the period of April-August, MOIL has recorded its best-ever performance with:

• Production of 7.92 lakh tonnes, up 9.3% year-on-year
• Exploratory drilling of 50,621 meters, an 8.6% increase year-on-year

Shri Ajit Kumar Saxena, CMD of MOIL, commended the team for their record performance, particularly noting their ability to achieve growth in production and sales despite challenging weather conditions.

Changes in Senior Management

In addition to its operational achievements, MOIL has announced several changes in its senior management:

1. Shri Prashant Karaiya, ED (Tech.), superannuated on September 1.
2. Shri Kishor Chandrakar has been promoted to ED (Tech.). With a B.E. in Mining, Chandrakar brings 36 years of extensive experience in mining and related fields.
3. Shri Rajesh Verma has been promoted to ED (P&D). Verma, holding a B.E. in Tech., has 36 years of vast experience in mechanical, project, and various other related fields.

These management changes, effective from September 1, are expected to bring fresh perspectives and expertise to MOIL's leadership team.

MOIL's recent performance and strategic management changes position the company for continued growth and success in the mining sector. As India's largest producer of manganese ore, MOIL's achievements have significant implications for the country's mineral resources industry.

MOIL Limited (NSE: MOIL, BSE: 533286), a Government of India Enterprise, has reported exceptional operational performance for July, setting new benchmarks in manganese ore production despite facing adverse weather conditions.

Record-Breaking July Production

MOIL achieved its highest-ever July production of 1.45 lakh tonnes of manganese ore, representing a significant 11.40% growth compared to the same period last year. This remarkable feat was accomplished despite the challenges posed by heavy rainfall during the month.

Strong Performance in April-July

The company's robust operational momentum extended beyond July, with impressive results for the April-July period:

These figures underscore MOIL's ability to maintain strong performance across key operational areas, even in the face of challenging weather conditions.

Management's Perspective

Shri Ajit Kumar Saxena, Chairman and Managing Director of MOIL, expressed his appreciation for the company's performance. He congratulated the MOIL team for their remarkable achievement and praised their continued efforts to enhance production and sales under challenging circumstances.

Looking Ahead

The company's ability to achieve record production levels and maintain growth across various operational metrics, despite adverse weather conditions, demonstrates its operational resilience and efficiency. As MOIL continues to navigate the challenges of the current fiscal year, this strong start positions the company well for potential future growth in the manganese ore sector.

MOIL's performance reflects positively on India's mining sector, showcasing the ability to drive growth and maintain operational excellence even in the face of environmental challenges.