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MOIL Reviews

Nagpur, Maharashtra

4.5/ 5

2 reviews

MOIL Limited, formerly known as Manganese Ore (India) Limited, is a public sector undertaking and a Schedule “A” Miniratna Category-I Company under the Ministry of Steel, Government of India. Headquartered in Nagpur, Maharashtra, it stands as India's largest producer of manganese ore, commanding a market share of over 50%. The company has a rich historical lineage originating in 1896 as the Central Province Prospecting Syndicate, which was later renamed the Central Provinces Manganese Ore Company Limited (CPMO), a British enterprise. In 1962, through an agreement between the Government of India and CPMO, the assets were transitioned, and the company was incorporated as Manganese Ore (India) Limited with a 51% state ownership structure. By 1977, the government acquired the remaining 49%, turning it into a fully state-owned entity before it subsequently divested a portion of its equity through an initial public offering (IPO) in December 2010. Today, the Government of India holds a 53.35% stake, while the state governments of Maharashtra and Madhya Pradesh hold 5.96% and 5.38% respectively, with the remaining 35.31% held by the public. MOIL primarily operates across three major business verticals: mining, manufacturing, and power generation, with mining being its core revenue driver. The company operates a network of 10 to 11 active mines situated in the adjoining districts of Maharashtra and Madhya Pradesh. Its mining portfolio comprises both underground and opencast operations, utilizing specialized underground mining techniques that account for a significant portion of its production. The Balaghat mine serves as its largest and deepest operational site, extending to depths of 383 meters. To support industrial needs, MOIL produces and distributes various grades of manganese ore. This includes high-grade ores optimized for manufacturing ferro manganese, medium-grade ores used for silico manganese, blast furnace grade ores essential for hot metal production, and dioxide ore allocated for dry battery cells and chemical applications. Beyond crude extraction, the company handles downstream value-addition via an Electrolytic Manganese Dioxide (EMD) plant in Dongri Buzurg, Maharashtra, and a Ferro Manganese Plant in Balaghat, Madhya Pradesh. In alignment with sustainable operational frameworks, MOIL has diversified into renewable energy generation to manage its carbon footprint and support its mining networks. It operates clean energy assets including wind energy farms with a cumulative capacity of 20 MW located at Nagda Hills and Ratedi Hills in the Dewas district of Madhya Pradesh, alongside solar power generation projects totaling 10.5 MW split between Maharashtra and Madhya Pradesh. Led by Chairman and Managing Director Ajit Kumar Saxena, MOIL manages substantial reserves and resources estimated at roughly 108 million metric tonnes. The company achieved an all-time high annual production output of 17.56 lakh tonnes during the 2023-24 financial cycle and is pursuing expansion goals to scale production capacity up to 3.00 million metric tonnes by 2030.