MOIL Ltd Q3 FY26 Earnings Analysis
Published 16 Aug 2026 | Market Cap: ₹5.8K Cr
Price
₹274
Market Cap
₹5.8K Cr
P/E Ratio
18.9
Revenue Rank
Margin Rank
Earnings Summary
Production expected to reach 25 lakh tons by FY 2027, with current year (FY 2026) estimated between 19-20 lakh tons due to project delays. MOIL targets production of 25 lakh tons in FY 2027, up from around 19-20 lakh tons FY 2026 (delayed from earlier target of 23.5 lakh tons).
📊 Revenue & Sales Performance
Rank 3- →Production expected to reach 25 lakh tons by FY 2027, with current year (FY 2026) estimated between 19-20 lakh tons due to project delays.
- →New projects (Balaghat and Gumgaon) and mechanization to drive steep production growth beyond current levels.
- →Incremental production growth of 1-2 lakh tons annually anticipated from new vertical shafts, taking 5 years to reach full capacity.
- →Strong demand in Central region allowing significant growth; current market is 3 million tons per region, with MOIL supplying ~1.8 million tons centrally and room to grow by 1.5 million tons.
- →Focus on beneficiation of low-grade ores to add value and expand sales.
- →Export markets being developed to absorb low-grade ores; low-grade sales increasing ~50% annually with exports via state trading enterprise.
- →Revenue growth linked to production volumes and stable operating margins; cautious outlook due to NSR fluctuations influenced by steel demand and global prices.
📈 Profitability & Margins
Rank 3- →MOIL targets production of 25 lakh tons in FY 2027, up from around 19-20 lakh tons FY 2026 (delayed from earlier target of 23.5 lakh tons).
- →New shafts and mechanization expected to increase capacity significantly over 5 years; Balaghat mine capacity could rise from 3.5 lakh tons to 8 lakh tons over 5-6 years.
- →Cost of production expected to decrease from current INR 5,500/ton (factory gate ex-royalty) due to mechanization, reduced employee count, and change in mining methods (long hole open stoping).
- →Employee costs expected to rise moderately (~2-5%) but cost per ton likely to reduce due to productivity gains.
- →Profit after tax was INR 175 crores in first 9 months FY 25-26, with expectations of reaching or exceeding INR 500 crores in near future due to increased production and operational efficiencies.
- →Management remains confident of strong returns to shareholders, with historical average ROE ~161% over last 10 years.
🏗️ Capital Expenditure Plans
Yes- →FY '24-'25 capex was INR321.94 crores (highest ever for MOIL).
- →FY '25-'26 capex target around INR600 crores.
- →INR325 crores earmarked for modernization, mechanization, and capacity enhancement of existing mines.
- →INR275 crores allocated for overseas acquisitions.
- →Investment in five shaft sinking projects totaling INR664 crores to improve infrastructure and production capacity.
- →Projects include three shafts at Dongri Buzurg and two shafts at Kandri and Chikla mines.
- →Advanced stage projects at GMDC (Gujarat) with JV formation approved by DIPAM and NITI Aayog.
- →Exploration activities ongoing in Madhya Pradesh and Chhattisgarh for new ore bodies.
- →Plans to increase Environmental Clearance limits to 5 million tons to achieve production target of 3.5 million tons by 2030.
- →Focus on mechanization, changing mining methods (from cut and fill to long hole stoping), and use of LHDs to boost productivity and reduce costs.
💰 Fundraising & Capital Structure
No information📋 Order Book & Pipeline
No informationKey Metrics
Revenue
Margin
Capex
Fundraise
Order Book
Frequently Asked Questions
What were MOIL Ltd Q3 FY26 results?
Production expected to reach 25 lakh tons by FY 2027, with current year (FY 2026) estimated between 19-20 lakh tons due to project delays. MOIL targets production of 25 lakh tons in FY 2027, up from around 19-20 lakh tons FY 2026 (delayed from earlier target of 23.5 lakh tons).
What is MOIL Ltd share price analysis?
MOIL Ltd currently shows a below-average growth signal. The stock trades at a P/E of 18.9 with a market cap of ₹5,753 Cr. Investors should review the full earnings analysis for detailed insights.
Is MOIL Ltd planning capital expenditure?
FY '24-'25 capex was INR321.94 crores (highest ever for MOIL).
This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.