MOIL shares surge 20% after rebounding from three-day decline Shares of MOIL Ltd experienced a sharp rally on Tuesday, reversing a three-day losing streak as the stock surged 20% to reach a day's high of Rs 297.80. The rebound followed the company's announcement of its future growth strategy, which included plans to expand production and operations. The stock had previously dipped to a one-year low of Rs 242.65 during intraday trading. MOIL, the largest manganese ore producer in India, outlined its target to increase manganese ore production to 3.5 million tonnes by 2030. This goal is expected to boost its market share from 20% to 32% over the same period. The state-owned miner also emphasized its focus on expanding production capacity and entering new states to diversify its operations. Financial performance for the quarter showed mixed results. MOIL reported Q3 FY26 revenue of Rs 360 crore, reflecting a 2% year-over-year decline but a 3% sequential increase. The EBITDA margin for the quarter stood at 27%, slightly below the 28.6% recorded in Q2 FY26 but higher than the 25.9% in Q3 FY25. Sales volume for the quarter was 0.37 million tonnes, down 3.6% year-over-year but up 6% sequentially. Manganese ore (non-fines) realizations reached Rs 10,256 per tonne, a 4% increase compared to the previous year and a 6% rise from the prior quarter. Blended realizations were Rs 8,607 per tonne, up 4% year-over-year but down 1% sequentially. EBITDA per tonne for Q3 FY26 was Rs 2,601, representing a 6% year-over-year growth but a 7% sequential decline. Systematix Institutional Equities maintained a 'Hold' rating on MOIL shares, setting a 12-month target price of Rs 392. The brokerage attributed the Q3 FY26 revenue decline to lower-than-expected realizations amid subdued demand during the quarter.#india #moil_ltd #miniratna_company #manganese_ore_india #systematix_institutional_equities
