• MOIL's revenue down 23% YoY and marginally higher QoQ. Decline in revenues on a YoY basis was largely on account of a 34% decline in ore realizations. Blended ore realizations were 6% down and 22% QoQ.

• Manganese ore volumes at 0.35MT grew and 36% QoQ offsetting the impact of lower realizations.

• Manganese ore volume and price outlook are expected to recover considering the recent increase in ore and steel prices and steel demand recovery is expected to continue in 4QFY20.

• MOIL, being a PSU, is also favourably placed for allocation of manganese ore mines in the future by the Central/State Governments conferring an advantage over private miners. The stock valued at 4.0x FY22 EV/EBITDA.

Disclaimer: The above report is compiled from information available on public platforms. inChat team advises users to check with certified experts before taking any investment decisions.

Found this insight useful?

For more such insights, delivered daily in real-time for free, download the inChat app from the Play Store. Download Now!

Please share with your friends and family as well. You can also subscribe to one of our channels listed at the bottom of this page.