Arthneeti

MOIL Q3 FY26 Share Price & Earnings Call Analysis

₹218.53-0.26% today
Market cap
₹4,447 Cr
P/E
14.65
ROE
9.77%
PEG
5.57
Price to sales
2.95
Debt to equity
0.00
52W high / low
₹381 / ₹216
Sales growth (5Y)
4.63%
EBITDA margin
31.21%
Net profit margin
17.77%
Promoter holding
64.68%
Sales (last year)
₹1,511 Cr

MOIL Ltd is primarily engaged in mining of manganese ore and is the largest manganese ore producer in the country.[1] It is a miniratna state-owned company owned by Govt. of India.[2]

Guidance scorecard · Q3 FY26 call

What MOIL's management guided
and where it ranks in Minerals & Mining

#7of 7 in
Minerals & Mining
Revenue10–20%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ3 FY26 call

10–20%
  • 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.

2 more points from MOIL's call on revenue

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Full Q3 FY26 analysis

MarginsQ3 FY26 call

Flat

See what MOIL said on margins — free account, 30 seconds.

Full Q3 FY26 analysis

CapexQ3 FY26 call

Planned
  • 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.

2 more points from MOIL's call on capex

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Full Q3 FY26 analysis

FundraisingQ3 FY26 call

See what MOIL said on fundraising — free account, 30 seconds.

Full Q3 FY26 analysis

Order bookQ3 FY26 call

Ask what MOIL said on the order book →

Full Q3 FY26 analysis
Full Minerals & Mining ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Minerals & Mining
on management's own guidance

  1. NMDCGood growth
    2
  2. Lloyds Metals & Energy LtdGood growth
    1
  3. Gravita IndiaGood growth
    3
See all potential multibaggersWhere does MOIL rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Minerals & Mining companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
1Lloyds Metals & Energy Ltd20–40%Flat₹1.04L Cr21.9
2NMDC20–40%Flat₹63,029 Cr8.4
3Gravita India20–40%Flat₹10,919 Cr27.9
420–40%Flat₹4,437 Cr10.8
510–20%Up 0–2%₹683 Cr10.0
610–20%Flat₹14,980 Cr26.3

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Pro shows every company guiding 40%+ revenue growth →Full Minerals & Mining ranking

Financials of MOIL

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of MOIL

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +428380348306416493292367433348348348444
Expenses +296256251217288279213272294269249250305
Operating Profit133124968912821479951407910097139
OPM %31%33%28%29%31%43%27%26%32%23%29%28%31%
Other Income +20262023242727332522301723
Interest0000000000000
Depreciation31333537393638393937404448
Profit before tax12111682761132046889125649070114
Tax %33%25%25%29%19%25%27%28%8%19%22%24%19%
Net Profit +8187625491152506411652705393
EPS in Rs3.984.253.022.664.487.492.463.135.682.533.462.604.55

Financials of MOIL

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +8226329781,3141,4381,0341,1721,4331,3391,4471,5821,473
Expenses +4435626797818427798828919701,0101,0551,058
Operating Profit37971298533596256290541369438528415
OPM %46%11%31%41%41%25%25%38%28%30%33%28%
Other Income +3172522211781911814986809411193
Interest003000010000
Depreciation45525562679699103114144152170
Profit before tax651270462648720340240523334387487338
Tax %34%36%34%35%34%27%26%28%25%24%22%21%
Net Profit +428173306422474248177377251293382267
EPS in Rs12.745.1511.4816.3818.4010.467.4418.5312.3114.4218.7613.14
Dividend Payout %33%49%48%34%33%57%99%32%30%42%30%0%

Financials of MOIL

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital168168133258258237237203203203203203
Reserves3,2143,2852,6722,5422,8252,5262,5831,9382,0412,2502,4342,506
Borrowings +000000000000
Other Liabilities +266275287441526538570438448436574496
Total Liabilities3,6483,7283,0923,2413,6093,3013,3902,5802,6922,8893,2113,206
Fixed Assets +2943113263484305876636768529269201,070
CWIP5380116238297242203314271357507483
Investments0002411573312321511287824
Other Assets +3,3013,3372,6502,6312,7672,4652,1941,3581,4181,4781,7071,628
Total Assets3,6483,7283,0923,2413,6093,3013,3902,5802,6922,8893,2113,206

Financials of MOIL

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +28-2411852942458291360212253434157
Cash from Investing Activity +181145-588-397-254687-360693-102-141-338-14
Cash from Financing Activity +-171-101-81-213-173-562-131-1,033-122-85-134-141
Net Cash Flow3720-550-82-3184-20020-1227-372
Free Cash Flow-67-12212322215-142154130-37-63112-140
CFO/OP58%105%93%142%116%58%122%92%82%82%106%48%

Financials of MOIL

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days488290533347714439533435
Inventory Days596405
Days Payable203107
Cash Conversion Cycle48824825333473694439533435
Working Capital Days6395846-2311-21-115503756
ROCE %20%8%15%23%24%11%10%20%15%16%19%13%

Guidance history

How MOIL's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q3 FY26 call →10–20%FlatPlanned——
Q1 FY25 call →10–20%FlatPlanned——
Q2 FY24 call →20–40%FlatPlanned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

5out of 100

Momentum score · price trend

5 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−41.6%10%
Last 6 months−29.7%8%
Last 3 months−24.1%9%

The price is 60.3% below its all-time high of ₹551.05 (18 May 2024). Stocks more than 20% below their peak have their score halved, so 9 became 5.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For MOIL: 0.4 × 10 + 0.4 × 8 + 0.2 × 9 = 9, halved to 5 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What MOIL's management said in earlier quarters

Others in Minerals & Mining this season

  • NMDC Ltd (Q2 FY26)

    Iron Ore Production: 107.16 LT (10% increase YoY from 97.27 LT) . Key concall takeaways from NMDC Ltd's Q2 FY26 earnings call — and how it ranks against sector…

  • NMDC Ltd (Q3 FY26)

    Iron Ore Production: 146.84 LT, +10% . Key concall takeaways from NMDC Ltd's Q3 FY26 earnings call — and how it ranks against sector peers.

  • NMDC Ltd (Q1 FY27)

    Iron Ore Production: 119.94 LT to 151.17 LT, up 26% . Key concall takeaways from NMDC Ltd's Q1 FY27 earnings call — and how it ranks against sector peers.

  • NMDC Ltd (Q1 FY26)

    Iron Ore Production: 119.94 LT, +31% YoY (from 91.89 LT) . Key concall takeaways from NMDC Ltd's Q1 FY26 earnings call — and how it ranks against sector peers.

Compare:vs Lloyds Metals & Energy Ltdvs NMDC Ltdvs G M D C