In the current fiscal year upto December 2023, the company has registered a growth of 41% YoY, with production of 12.73 lakh MT of manganese ore.

On the sales front, the company recroded 40% growth during first nine months of FY24 with sales of 11.01 lakh MT of manganese ore.

In December 2023, MOIL accomplished core drilling spanning 11,482 meters, which is also best ever monthly core drilling carried out by the company since its inception. During Apr-Dec 2023 period, MOIL has carried out core drilling of 60,870 meters which is more than double on YoY basis.

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 2023.

The company's net profit surged 143% to Rs 61.52 crore on 47.3% jump in net sales to Rs 347.53 crore in Q2 FY24 over Q2 FY23.