MOIL Stock Hits 20% Upper Circuit; Q4 Production Target Equals 81% of FY21 Output On March 17, MOIL’s share price surged to the upper circuit of 20% following the company’s announcement that its manganese ore production in the fourth quarter (Q4) is expected to reach 9.29 lakh tonnes. This target represents 81.2% of the 11.44 lakh tonnes produced during the full fiscal year of 2021 (FY21). As of March 17, 2026, the stock closed at Rs 293. MOIL has set a full-year production target of 23.50 lakh tonnes for FY26. To meet this goal, the company needs to produce 9.29 lakh tonnes in Q4FY26, as it has already achieved 14.21 lakh tonnes in the first nine months of the fiscal year. The Q4 target is significant, as it aligns with 81.2% of FY21’s total production. The company also aims to expand its market share from 20% to 32% by 2030, a growth of 12 percentage points. To support long-term production growth, MOIL is investing heavily in underground mining infrastructure, particularly through shaft sinking projects. These projects involve digging vertical tunnels to access deeper mineral deposits, improving ventilation and ore extraction efficiency. The company has awarded contracts worth Rs 664.12 crore (excluding GST) for five such projects across key mines. At the Dongri Buzurg mine, three shafts—two for ventilation and one for production—are under development, with completion expected by 2029–2030. New shafts are also planned at the Kandri and Chikla mines, both slated for completion by 2030. MOIL is expanding its footprint through exploration and joint ventures. In Gujarat, the company has identified 9.51 million tonnes of manganese ore reserves in the Pani area, with the process for obtaining a mining lease underway.#moil #kandri_mine #chikla_mine #dongri_buzurg_mine #pani_area
