Friday, May 13, 2022

MOIL records best ever high grade production and sales of manganese ore in FY 2021-22

Must read

New Delhi: The Financial Year 2021-22 has been one of the best years of performance in the history of MOIL Limited as its turnover has almost touched the highest-ever achieved so far in FY 2018-19. The total turnover of the company has been about Rs 1,436 crores in FY 2021-22 (provisional) registering a growth of about 22 percent in comparison to previous year’s turnover of Rs 1,177 crores and is marginally lower than the highest-ever achievement of Rs 1,441 crores in FY 2018-19.

Despite the adverse impact of second and third waves of COVID-19 affecting the operational activities of the Company for almost two months, MOIL has recorded the above performance. High-grade ore production (6.53 lakh MT) and sales (6.65 lakh MT) are also at the highest level. This performance is the result of better product planning, marketing strategy and, most important, efforts put in by employees at all levels.

MOIL has achieved production of 12.31 lakh MT in FY 2021-22 as against 11.43 lakh MT in last year, an increase of about 8 percent. Total sales have increased by about 6 percent to 12.12 lakh MT as against 11.43 lakh MT during these periods.

MOIL Limited is a Miniratna PSU under the administrative control of the Ministry of Steel. It is the largest producer of manganese ore in the country and operates eleven mines in the State of Maharashtra and Madhya Pradesh. MOIL holds 34 percent of manganese ore reserves of the country and is contributing 45 percent of the domestic production. The company has an ambitious vision of almost doubling its production to 3.00 million tonnes by 2030.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

- Advertisement -

More articles

- Advertisement -

Latest News