MOIL gains after price hike across manganese ore grades

MOIL rose 2.37% to Rs 339.30, following the announcement of a 1-5% price hike across various grades of manganese ore.

The revised prices will be effective from January 1, 2025.

Prices for ferro grades with manganese content of 44% or higher have been increased by 1% compared to the rates prevailing since January 1, 2024. The new prices will take effect from midnight of December 31, 2024, to January 1, 2025, for the month of January 2025.

Prices for ferro grades with manganese content below 44% have been raised by 5% compared to the rates prevailing since December 1, 2024. These changes will also apply from midnight of December 31, 2024, to January 1, 2025, for January 2025.

 

Prices for SMGR (Mn-30%, Mn-25%, and Mn-20%) and fines grades have been increased by 5% compared to the rates effective since January 1, 2024. This revision will also be effective from midnight of December 31, 2024, to January 1, 2025, for January 2025.

Prices for certain SMGR grades, such as SMGR SMH, CHS578, CHL442, TDL499, and GML464, will remain unchanged at the rates effective since December 1, 2024. These prices will continue to apply from midnight of December 31, 2024, to January 1, 2025, for January 2025.

Prices for all chemical grades have been increased by 7.5% compared to the rates effective since December 1, 2024. The updated rates will apply from midnight of December 31, 2024, to January 1, 2025, for January 2025.

The basic price of Rs 205,000 per metric ton (PMT) for electrolytic manganese dioxide (EMD) will remain unchanged for January 2025.

MOIL is engaged in the exploration, exploitation and marketing of manganese ore and products, such as electrolytic manganese dioxide and high carbon ferro manganese alloy. The Government of India held 64.68% stake in MOIL as on 30 September 2024.

The company's standalone net profit declined 18.8% to Rs 49.96 crore on 16% slide in net sales to Rs 291.89 crore in Q2 FY25 over Q2 FY24.

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