Tuesday 23rd April 2024

MOIL scripts history in FY’24, production surges by 35%, Sales races ahead by 30%

Apr 2nd, 2024 10:08 pm | By | Category: LATEST NEWS

MOIL limited has recorded best ever production of any financial year since inception at 17.56 lakh tonnes, registering a significant growth of 35% y-o-y. This is 29% higher than the previous best ever production of 13.64 lakh tonnes in FY 2007-08.

On the sales front, the company has achieved its best ever sales of 15.36 lakh tonnes in FY’24, registering a remarkable growth of 30% y-o-y. This is 10% higher than the previous best ever sales of 13.92 lakh tonnes in FY 2007-08.

The Company has also achieved best ever production of Electrolytic Manganese Dioxide (EMD) at 1413 tonnes, higher by 28% y-o-y. EMD is a 100% import substitution product, used mostly for pharmaceuticals and manufacturing of batteries.

Giving utmost thrust to exploration, MOIL has carried out its best ever exploratory core drilling of 87,661 meters which is more than double than the previous year. The same will not only form the basis of enhanced production from its existing mines but will also be the foundation of opening new manganese mines in the country.

Ajit Kumar Saxena, CMD, MOIL along with all Functional Directors & other senior officials personally visited all the mines on 1st April, 2024 and congratulated large cross section of employees at each mine for this historical performance. The enthusiasm in the organisation was palpable along with the quest to achieve bigger milestones in the coming year.

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