New Delhi: MOIL Limited, the vanguard of India’s manganese sector, has reported a blockbuster performance for the third quarter of FY26, cementing its position as a key beneficiary of India’s domestic steel boom. The state-run miner produced a record 4.77 lakh tonnes of manganese ore between October and December 2025—the highest ever for any third quarter in the company’s history.
The production milestone is not a flash in the pan but a result of a sustained 6.8% growth trajectory over the nine-month period ending December 2025. This surge comes at a strategic moment; MOIL recently announced a 3% price hike for high-demand ferro grades of manganese ore. By scaling production while simultaneously increasing realizations, the company is effectively playing a volume-plus-value game that has caught the attention of Dalal Street.
The Ministry of Steel highlighted that the “best-ever” performance was underpinned by a transition toward deeper, more mechanized mining operations. Key technical upgrades, particularly in the high-capacity vertical shafts at the Balaghat and Mansar mines, have allowed for quicker ore evacuation and reduced downtime.
Investors responded with enthusiasm to the operational update and the pricing strategy. MOIL’s stock surged nearly 5% on the NSE, as analysts expect the combination of record output and higher price realizations to significantly bolster the company’s bottom line in the upcoming earnings season.