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Business News/ Companies / News/  MOIL’s production and sales jump in November
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MOIL’s production and sales jump in November

MOIL recorded a growth of 82% in sales during the period over the previous month

MOIL Limited is a Schedule-A, Miniratna Category-I CPSE under the administrative control of Ministry of SteelPremium
MOIL Limited is a Schedule-A, Miniratna Category-I CPSE under the administrative control of Ministry of Steel

With a production of 1.2 lakh tones of Manganese Ore in November, 2022, MOIL has registered a significant growth of 60% during the month over October, said the ministry of steel in a press release.

On the sales front, MOIL recorded a growth of 82% during the period over the previous month, in spite of challenging market conditions.

“The improved performance of the company is because of the great team effort exhibited by all concerned. MOIL is geared up for much better performance in the remaining period of the financial year," said Usha Singh, Director (Human Resource) & CMD (Addl. Charge).

MOIL Limited is a Schedule-A, Miniratna Category-I CPSE under the administrative control of Ministry of Steel, Government of India. It is the largest producer of manganese ore in the country and operates eleven mines in the states of Maharashtra and Madhya Pradesh.

The company holds about 34% of the manganese ore reserves of the country and is contributing approximately 45% of the domestic production. MOIL has an ambitious vision of almost doubling its production to 3.00 million tons by 2030.

It is also exploring business opportunities in the states of Gujarat, Rajasthan and Odisha besides other areas in the state of Madhya Pradesh.

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ABOUT THE AUTHOR
Swati Luthra
Swati Luthra writes on climate change, water, environment and forest issues for Mint. A graduate in Psychology, Swati has been mapping India’s policy initiatives to help meet the pledges made at CoP-26 including achieving net-zero carbon emissions by 2070.
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Published: 02 Dec 2022, 09:30 PM IST
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