MOIL delivers a 230.2% return, outperforming Nifty 50 and Sensex; declares ₹2.5 per share dividend
230% Returns in 1 Year: Multibagger PSU Stock Hits 19% Upper Circuit on Q4 Performance; ₹2.5/Share Dividend Declared
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Shares of MOIL Ltd, a leading PSU mining company, surged 19% to reach a new 52-week high of ₹524.60 per share on the BSE following the announcement of its March quarter results.
MOIL's impressive performance in the January-March quarter and throughout FY24 led to the stock becoming one of the top gainers on the BSE today. Over the past one to three years, MOIL has delivered multibagger returns to investors.
The surge followed MOIL's report of a 12.6% increase in net profit, reaching ₹91 crore in Q4 FY24, compared to ₹81 crore in the same period last year. However, revenue from operations slightly decreased by 2.8% to ₹416 crore from ₹428 crore in the previous year.
Despite a 3.2% decline in EBITDA to ₹128 crore, compared to ₹132.6 crore last year, the EBITDA margin remained steady at around 30.8%. The company's strong performance was driven by rising manganese ore prices, robust sales, and production figures.
MOIL achieved its highest-ever production volume of 17.56 lakh tonnes in FY24, a 35% increase YoY. Sales also hit a record high of 15.36 lakh tonnes, a 30% YoY growth. The company reported a record turnover of ₹1,449.42 crore, marking an 8% YoY increase.
The board declared a final dividend of ₹2.55 per share, bringing the total dividend for the year to ₹6.05 per share, up 64% from last year. MOIL's market share in manganese ore production in India stands at 46%, with significant reserves of 101 million tonnes out of India's total 503 million tonnes.
To capitalize on growing opportunities, MOIL is ramping up investments domestically and internationally, developing existing mines, exploring new ones, and acquiring adjacent areas.
Share Price Trend: MOIL shares opened at ₹439.95 and rose to a 52-week high of ₹524.60 before closing at ₹524.60, a 19.99% increase. Over the past year, MOIL has delivered a 230.2% return, outperforming Nifty 50 and Sensex, which returned 22.86% and 19.85%, respectively. In the past month, MOIL provided a 56.37% return compared to 1.44% and 1.33% by Nifty 50 and Sensex.
Overall, MOIL's strong financial performance, strategic investments, and market leadership position it for continued growth.
