MOIL Ltd - (MOIL)

MOIL Ltd is the largest producer of manganese ore by volume in India. The company produces high, medium and low grade manganese ore. Also, they produce manganese dioxide and chemical grade manganese ore. All their mines are located in central India, in the states of Maharashtra and Madhya Pradesh, benefiting from well developed road and rail infrastructure. They are actively involved in exploration and development activities with a view to increasing their proved manganese ore reserves.The company currently operates seven underground mines, namely Kandri, Munsar, Beldongri, Gumgaon, Chikla, Balaghat and Ukwa mines and three opencast mines, namely Dongri Buzurg, Sitapatore/ Sukli, and Tirodi. They also own two wind farms with a total aggregate capacity of 20.0 MW in Nagda hills and Ratedi hills near Dewas in Madhya Pradesh. Their production of manganese ore increased from 864,890 tonnes in Fiscal 2006 to 1,093,363 tonnes in Fiscal 2010.MOIL Ltd was incorporated on June 22, 1962 as a public limited company with the name Manganese Ore (India) Ltd. Pursuant to an agreement between the Government of India and CPMO, the mining leases for manganese ore over the Nagpur, Dongri Buzurg and other areas, consumable stores and other fixed assets were transferred from CPMO to the company. In the year 1997, CPMO transferred their entire stake to the Government of India and the company became a 100% Government owned company. Also, the Heavy Media Separation Plant located at the Belapur-Hamesha mine and other consumable stores and spares were transferred from CPMO to the company.In the year 1991, the company set up Electrolytic Manganese Dioxide Plant at Dongri Buzurg mine. In the year 1998, they set up High Carbon Ferro Manganese plant with capacity of 10,000 TPA at Balaghat mine. In the year 2001, they set up integrated Manganese Beneficiation Plant at Dongri Buzurg mine.In the year 2006, the company commissioned wind farm with power generation capacity of 4.8 MW. In the year 2007, they set up integrated Manganese Beneficiation Plant at Balaghat mines with capacity of 0.5 million TPA. In the year 2008, they commissioned second wind farm with power generation capacity of 15.2 MW. In the year 2008, the company was conferred with Mini-Ratna Category-I status. Also, they incorporated 50:50 joint venture company with SAIL, namely SAIL and MOIL Ferro Alloys Pvt Ltd to manufacture ferro alloys at Bhilai in Chattisgarh. In the year 2009, they also incorporated 50:50 joint venture company with Rashtriya Ispat Nigam Ltd (RINL), namely RINMOIL Ferro Alloys Pvt Ltd to manufacture ferro alloys at Vizag in Andhra Pradesh. In August 17, 2010, the name of the company was changed from Manganese Ore (India) Ltd to MOIL Ltd. During the year 2010-11, the company came out with Initial Public Offer(IPO) and got listed on National Stock Exchange and Bombay Stock Exchange. IPO was oversubscribed by about 56 times with overwhelming response from retail and institutional investors. In 2014-15, Ministry of Mines, Government of India has recently notified MOIL for conducting exploration for various minerals all over the country. This opens up opportunities to MOIL to expand its business in this new area. MOIL has two separate Joint Ventures (50:50) with Steel Authority of India Limited (SAIL) and Rashtriya Ispat Nigam Limited (RINL) for setting up Ferro Alloys Plant.