The largest producer of manganese ore in the country, MOIL Ltd, on Thursday (December 21) said the company's production figures for the calendar year surpassed 16 lakh tonnes, demonstrating a 26% growth over the previous best recorded in 2019.
"With production surpassing 16 lakh tonnes on 20th December 2023 in the calendar year, another remarkable feat was achieved by MOIL. This was 26 percent higher than the previous best achieved in 2019," according to a stock exchange filing.
Moreover, sales for the calendar year, up to December 20, have exceeded 14 lakh tonnes, shattering the multi-year record set back in 2007.
MOIL recently reported its best-ever six-month performance with production rising by 45% and sales rising by 54% compared to the April-September period last year.
The company also recorded the highest-ever production of electrolytic manganese dioxide (EMD) during the first half of the current year, registering a growth of 26% from last year.
The government holds a substantial 64.68% stake in the manganese ore mining company. Notable public shareholders include LIC, contributing to the ownership landscape with a 7.5% stake, followed by the MFS International New Discovery Fund, holding a 3% stake.
Shares of MOIL Ltd ended at ₹300.40, up by ₹14.80, or 5.18%, on the BSE.
