MOIL Limited (INE490G01020), India's largest producer of manganese ore, has reported impressive production and sales figures for November, continuing its strong performance in the current fiscal year.

November Performance Highlights

MOIL achieved a record production of 1.65 lakh metric tonnes (LMT) of manganese ore in November, marking a 1% increase compared to the same month last year. The company's sales also showed positive momentum, reaching 1.37 LMT, which represents a 3% year-over-year growth.

Year-to-Date Performance

The company's strong November performance contributes to an even more impressive year-to-date result:

For the first eight months of the fiscal year 2025-26 (April to November), MOIL's cumulative production reached 12.69 LMT. This represents a significant 8% increase compared to the same period in the previous year, indicating sustained growth and operational efficiency.

Implications for MOIL

The record production and increased sales volumes suggest that MOIL is effectively meeting market demand for manganese ore. This growth in production and sales could potentially translate into improved financial performance for the company, subject to market prices and operational costs.

As India's largest manganese ore producer, MOIL's performance is often viewed as an indicator of the broader demand for steel and related industries, given manganese's crucial role in steel production. The company's sustained growth may reflect positively on the overall industrial and infrastructure sectors in India.

Investors and industry observers will likely keep a close eye on MOIL's performance in the coming months to see if this growth trend continues and how it might impact the company's full-year results.

MOIL Limited , a Government of India Enterprise, has received an order from the Commissioner (Appeals), CGST & Central Excise, Bhopal, upholding a service tax demand on royalty, District Mineral Foundation (DMF), and National Mineral Exploration Trust (NMET) for manganese ore consumed at its Ferro Manganese Plant in Balaghat.

Key Details of the Tax Demand

The total amount due includes the original service tax demand plus interest and penalties as per sections 75, 77, and 78 of the CGST Act, 2017.

Company's Response

MOIL Limited has stated that it plans to file further appeals against the order. The company has already pre-deposited Rs 4.18 lakhs at the time of filing previous appeals.

Impact on Operations

According to the company's disclosure, there is no further financial impact expected beyond the demanded amount. MOIL Limited maintains that it will pursue legal recourse by appealing against the order of the Commissioner (Appeals) CGST and Central Excise, Bhopal, MP.

Investor Relations

In a separate announcement, MOIL Limited has informed that it is organizing a mine visit for its Institutional Investors and Analysts. The visit is scheduled for the Balaghat Mine, which coincidentally is the same location as the Ferro Manganese Plant mentioned in the tax demand.

This mine visit suggests that despite the ongoing tax issue, the company is maintaining its commitment to transparency and investor relations. However, it's important to note that this visit is not directly related to the tax demand and is likely part of the company's regular investor engagement activities.

MOIL Limited continues to operate under its CIN No: L99999MH1962GOI012398, with its headquarters located at MOIL Bhavan, 1A, Katol Road, Nagpur – 440 013.

As the situation develops, investors and stakeholders will likely be watching closely to see how the appeal process unfolds and whether it will have any long-term implications for the company's financial position or operations.