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, is facing multiple tax demands from different authorities. The company has now received a fresh GST order demanding Rs 2.57 crores, adding to its existing service tax liability of Rs 1.90 crores.

Latest GST Demand Details

The Joint Commissioner of State Tax, Madhya Pradesh, has issued an order under Section 73(9) of the CGST/SGST Act, 2017 for FY 2021-22. The order was received on December 30, 2025, at 12:30 PM.

The demand relates to alleged mismatches and excess/ineligible claims in GSTR-3B vs GSTR-9, GSTR-1 vs GSTR-3B, and GSTR-2A vs Inward E-Way Bill filings. The total amount includes GST and penalty components.

Previous Service Tax Demand

Earlier, MOIL had received a service tax demand from the Commissioner (Appeals), CGST & Central Excise, Bhopal, related to royalty, District Mineral Foundation (DMF), and National Mineral Exploration Trust (NMET) for manganese ore consumed at its Ferro Manganese Plant in Balaghat.

Company's Response Strategy

MOIL Limited has indicated that both demands do not have immediate operational impact. For the latest GST demand, the company stated it is examining the order and will take appropriate legal steps, including filing an appeal within the prescribed time under the GST Act.

Regarding the earlier service tax demand, the company has already filed appeals and pre-deposited Rs 4.18 lakhs. MOIL plans to pursue further legal recourse against both orders.

Overall Financial Impact

The combined tax demands now total over Rs 4.47 crores, representing a significant financial exposure for the mining company. However, MOIL maintains that there is no immediate operational disruption expected from these demands as it pursues legal remedies through the appellate process.