MOIL Limited [Formerly known as Manganese Ore (India) Limited], a Miniratna Schedule-A PSU under the Ministry of Steel, Government of India, has declared 50% (i.e., Rs. 5 per share) Interim Dividend for the year 2014-15. The Interim Dividend cheque of Rs 60.12 crore was presented to Shri Narendra Singh Tomar, Steel and Mines Minister at New Delhi today by Shri G.P Kundargi, Chairman-cum-Managing Director of MOIL Limited in the presence of Smt. Bharathi S. Sihag Additional Secretary & Financial Advisor to the Govt. of India, Ministry of Steel, Smt. Urvilla Khati, Joint Secretary to the Govt. of India, Ministry of Steel, Shri M.P Chaudhari, Director (Finance), Shri A.K Jha, Director (Production & Planning) and Shri T.K. Pattnaik, Director (Commercial) of MOIL Limited and other senior officials of the company were also present.
During nine months financial of F.Y. 2014-15 ended on 31.12.2014, the production of Manganese Ore was 8.22 lakh tonnes. The company has achieved a total income of Rs. 879.88 crore during the period. It has earned Profit before Tax (PBT) of Rs 493.18 crore and Profit after Tax (PAT) of Rs. 325.54 crore during the said period. MOIL’s shares are also listed on National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange Limited (BSE), Mumbai. At present, MOIL’s paid-up capital is Rs. 168.00 crore out of which 71.57% is held by Government of India, 4.62% by Government of Maharashtra, 3.81% by Government of Madhya Pradesh and the rest (20%) by public. MOIL Limited is the largest producer of Manganese ore in the country. It operates ten mines in Maharashtra and Madhya Pradesh and has also diversified into manufacturing of electrolytic manganese dioxide and ferro alloys as well as generation of electricity through wind turbine generators. Hon’ble Steel Minister assured full support of the Ministry of Steel to MOIL Limited for better performance and further development of the Company.