MOIL registers spectacular performance in April, 2023, 'Best April' production and sales achieved

With a production of 1.31 lakh tonnes of Manganese Ore in April, 2023, MOIL has registered Best April production performance since inception, with a significant growth of 26% over April, 2022.

Breaking a multi-year record, sales at 97,838 tonnes for the month has also been best for any April month and 72 percent higher than April, 2022.

Giving utmost thrust to exploration, MOIL achieved core drilling of 7,530 metres in April 2023, which is 3.6 times that of April, 2022. The company has made an ambitious plan of carrying out exploration in brown-field and green-field areas during FY'24.

Production of Electrolytic Manganese Dioxide (EMD) has also been best for any April month, higher by 6% than April, 2022. EMD is a 100% import substitution product, used mostly for pharmaceuticals and manufacturing of batteries.

Shri Ajit Kumar Saxena, CMD, congratulated MOIL collective on these achievements and reposed confidence of continuing the growth trajectory in the coming times.

Source : Equity Bulls

Keywords

MOIL ProductionPerformance April2023