MOIL Limited has secured a significant regulatory milestone with the Ministry of Steel's approval for its proposed joint venture with Madhya Pradesh State Mining Corporation Limited (MPSMCL). The approval marks a crucial step forward in the company's expansion strategy for manganese ore mining operations in Madhya Pradesh.

Ministry Approval Details

The company received official communication through letter no. S-17011(18)/10/2025-MOIL dated 29.01.2026 from the Ministry of Steel. The approval encompasses both the joint venture agreement and the formation of the joint venture company between MOIL Limited and MPSMCL.

Regulatory Framework and Next Steps

The Ministry's approval is subject to clearance from the Department of Investment and Public Asset Management (DIPAM). This additional regulatory step is standard for joint ventures involving government enterprises and ensures compliance with investment and asset management guidelines.

Previous Approvals and Timeline

The joint venture proposal has progressed through several approval stages:

• December 13, 2023: Board of Directors approved the draft joint venture agreement
• October 18, 2024: Board approved execution of the joint venture agreement
• January 29, 2026: Ministry of Steel granted approval

Strategic Significance

The joint venture represents MOIL's strategic expansion into Madhya Pradesh's manganese ore mining sector. As a Government of India enterprise, MOIL's partnership with the state-owned MPSMCL creates a collaborative framework for mineral resource development in the region.

Future Developments

MOIL Limited has indicated that further details regarding the joint venture will be submitted in due course. The company continues to work toward fulfilling the remaining regulatory requirements, particularly the DIPAM clearance, to complete the joint venture formation process.

MOIL Limited, a Government of India enterprise, announced its unaudited financial results for the quarter and nine months ended December 31, 2025. The company reported steady operational performance with revenue from operations of ₹35991.34 lakhs for Q3 FY26 and net profit of ₹5292.24 lakhs during the quarter.

Financial Performance Overview

The company's financial metrics for the quarter ended December 31, 2025, demonstrate consistent operational execution across key parameters:

Nine-Month Performance Analysis

For the nine months ended December 31, 2025, MOIL achieved revenue from operations of ₹105602.10 lakhs compared to ₹115155.07 lakhs in the corresponding period of the previous year. The company reported net profit of ₹17486.67 lakhs for the nine-month period, with basic earnings per share of ₹8.59.

Segment-wise Revenue Breakdown

The company's diversified business model spans across three primary segments:

The mining products segment remains the primary revenue contributor, accounting for approximately 92.3% of total operational revenue during Q3 FY26. The manufactured products and power segments contributed 6.5% and 1.3% respectively to the overall revenue mix.

Dividend Declaration and Corporate Actions

MOIL's Board of Directors declared a second interim dividend of ₹3.53 per equity share of face value ₹10 each for the financial year ending March 31, 2026. The dividend distribution timeline includes:

The company's paid-up equity share capital stands at ₹20348.52 lakhs, with other equity excluding revaluation reserve at ₹251323.70 lakhs as of December 31, 2025.

Operational Highlights

MOIL's operational efficiency is reflected in its expense management and asset utilization. Total expenses for Q3 FY26 were ₹30691.33 lakhs, resulting in profit before tax of ₹6990.76 lakhs. The company's total assets stood at ₹330177.44 lakhs as of December 31, 2025, with segment liabilities of ₹58505.22 lakhs.

The company reported one pending investor complaint as of December 31, 2025, having resolved three complaints during the quarter out of four received. MOIL continues to operate without any subsidiary, associate, or joint venture companies as of the reporting date.