MOIL
Stock Snapshot
Price Performance
Vista Outlook
Basis of our Recommendation
Management's recent commentary highlights MOIL's strategic focus on increasing manganese ore production to meet the rising demand from India's steel sector, which has seen a notable 10.7% increase in crude steel production. The company aims to expand its market share from 20% to 32% by 2030 through significant capacity expansions and mechanization of operations. Vista's financial outlook reflects stable revenue growth, supported by these initiatives, with margins expected to improve as operational efficiencies are realized. However, execution risks remain, particularly with delays in key projects and potential cost pressures from upcoming wage revisions. The broader industry context, characterized by increasing demand for strategic metals and government initiatives to bolster domestic production, further supports MOIL's growth trajectory. Over the next 12-24 months, key opportunities include the commissioning of new beneficiation plants and overseas market exploration, while watchpoints include the successful execution of expansion projects and managing cost inflation. Overall, Vista's forecast anticipates a 10.5% upside, with a 12-month target price of INR 285.35, reflecting confidence in MOIL's long-term growth potential amidst a supportive macro environment
Why We Like This Stock
- Strategic initiatives to increase manganese ore production align with rising demand from India's steel sector
- Management's focus on mechanization and operational efficiency is expected to enhance margins over time
- Government support for domestic production of strategic metals provides a favorable backdrop for growth
Things To Watch Out For
- Execution risks related to delays in key projects could hinder short-term production targets
- Upcoming wage revisions may exert cost pressures, impacting profitability
- Dependence on a narrow set of supplier countries for critical minerals poses supply chain vulnerabilities
Key Parameters
Financial Snapshot
View Technicals Analysis →| Actuals | Forecast | ||||
|---|---|---|---|---|---|
| FY24 | FY25 | FY26 | FY27 | FY28 | |
| Revenue (Cr.) | 1,447 | 1,582 | 1,473 | 1,403 | 1,442 |
| Profit Before Tax (Cr.) | 378 | 478 | 338 | 349 | 352 |
| PBT Margin | 26.1% | 30.2% | 22.9% | 24.9% | 24.4% |
| Net Profit (Cr.) | 274 | 354 | 296 | 306 | 308 |
| Earnings Per Share | 13.5 | 17.4 | 14.5 | 15.0 | 15.1 |
Analyst Recommendations
| Broker | Recommendation | Target Price | Date |
|---|---|---|---|
| Mirae Asset | ▲ Buy | 360 | 19-Jun-2026 |
Company Overview
Show Company Profile
MOIL Limited engages in the exploration, exploitation, and marketing of various grades of manganese ores in India and Internationally. It operates through three segments: Mining, Manufacturing, and Power Generation. The company manufactures and sells various grades of manganese ores, such as high-grade ores for the production of ferro manganese; medium grade ores for the production of silico manganese; blast furnace grade ores for producing hot metals; and dioxide for dry battery cells and chemical industries. It also offers electrolytic manganese dioxide and high carbon ferromanganese alloy. In addition, the company operates wind energy farms with an installed capacity of 4.8 MW at Nagda Hills and 15.2 MW at Ratedi Hills in Dewas district of Madhya Pradesh; and solar power plant with an installed capacity of 5MW in Maharashtra and 5.5MW in Madhya Pradesh, as well as 10 mines located in Maharashtra and Madhya Pradesh. The company was formerly known as Manganese Ore (India) Limited. and changed its name to MOIL Limited in 2010. MOIL Limited was founded in 1896 and is based in Nagpur, India.