AI-generated · cited to primary sources · not investment advice
MOIL (533286) Aug 2024 Filing Analysis
Does management do what it says?
Management reported that the cost of production at the factory gate was approximately INR 5,500 per ton in FY 2024-25 and is expected to reduce to around INR 5,300-5,400 (implied by '53 something') in the current year, aligning with the reduction target. (1 met across 1 tracked commitment)
“So if you take just same values, increase by 12%, 14%, 15%, you will get around 6%, 7% of reduction in production cost on year-to-year basis per ton.”
Management confirmed they explored approximately 1,07,000 meters in FY 2024-25, meeting the 1 lakh meter target. (1 met across 1 tracked commitment)
“We are targeting around 1 lakh metres to be explored and further we will add to our reserves and resources in the current financial year.”
The project is in an advanced stage with necessary approvals from DIPAM and NITI Aayog received; however, the JV agreement is still pending initiation following lease allocation by the Government of Gujarat. (1 in progress, 1 exceeded across 2 tracked commitments)
“Exploration is done and we are nearing the signing of joint venture with GMDC with having 51% shares with MOIL.”
The company achieved a production of 1.8 million tons (18.03 lakh tons) in FY 2024-25, which represents approximately 35% growth over the previous year's 1.3 million tons, significantly exceeding the 14-15% target. (1 exceeded, 2 met, 2 missed across 5 tracked commitments)
“This year we are targeting a growth of around 14%-15% over the last year.”
See the full cited Management analysis of MOIL
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