• 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.
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