MOIL Reports Strong Q1 FY27 Results; Net Profit Surges 70% to ₹87.62 Crore
MOIL Limited, a Government of India enterprise and India’s largest producer of manganese ore, has announced its unaudited financial results for the quarter ended June 30, 2026 (Q1 FY27). The company reported strong growth in revenue and profitability, driven by improved operational performance and higher earnings from its core mining business.
Q1 FY27 Financial Highlights
MOIL delivered a healthy financial performance during the quarter, with significant year-on-year (YoY) growth across key financial metrics.
- Revenue from Operations: Increased to ₹370.88 crore from ₹348.06 crore in the corresponding quarter of the previous year, registering a growth of 6.6% YoY.
- Total Income: Rose to ₹391.13 crore.
- Profit Before Tax (PBT): Jumped to ₹111.62 crore, compared to ₹63.82 crore a year ago, reflecting a growth of nearly 75% YoY.
- Profit After Tax (PAT): Increased to ₹87.62 crore, up from ₹51.51 crore in Q1 FY26, registering an impressive 70% YoY growth.
- Earnings Per Share (EPS): Stood at ₹4.31 for the quarter.
The strong earnings highlight MOIL’s continued operational efficiency and improved profitability despite a challenging mining environment.
Mining Business Continues to Drive Growth
Mining remained the company’s primary revenue contributor during the quarter.
Segment Performance
Mining Products
- Revenue: ₹360.08 crore
- Segment Profit: ₹87.18 crore
The mining segment continued to account for the majority of MOIL’s revenue and profits, reaffirming its position as the company’s core business.
Manufactured Products
- Revenue: ₹8.46 crore
- Segment Profit: ₹0.12 crore
Power Segment
- Revenue: ₹6.63 crore
- Segment Profit: ₹4.07 crore
Joint Venture Formed with Madhya Pradesh State Mining Corporation
During the quarter, MOIL incorporated a new joint venture named MOIL MPSMCL Mining Limited in partnership with the Madhya Pradesh State Mining Corporation Limited.
The company clarified that consolidated financial statements were not prepared for the quarter since the joint venture had not commenced commercial operations and the initial capital contribution was made after the end of the reporting period.
Plant Modernization Underway
MOIL undertook planned maintenance and technology upgrades during the quarter.
The company’s:
- Electrolytic Manganese Dioxide (EMD) Plant
- Ferro Manganese Plant (FMP)
remained temporarily shut for major repairs and modernization initiatives aimed at improving long-term operational efficiency and productivity.
Contingent Liability Related to Tirodi Mine
The company disclosed a contingent liability relating to the Tirodi Mine following environmental clearance-related proceedings.
A penalty demand of ₹17.32 crore (including an additional demand) has been disclosed as a contingent liability. The matter remains subject to legal and regulatory processes.
The statutory auditors also highlighted certain accounting observations relating to the treatment of this liability and the classification of exploration expenditure for proposed joint ventures.
Other Auditor Observations
The auditors also noted:
- Certain exploration-related expenditure was classified differently than their recommended accounting treatment.
- The financial impact of the new Labour Codes, which became effective in November 2025, has not yet been quantified by the company. However, management currently expects that the impact is unlikely to be material.
These observations did not alter the company’s reported operational performance for the quarter.