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    533286   INE490G01020

MOIL LIMITED

(533286)
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MOIL Limited Announces Environment Clearance for Gumgaon and Khodegaon Manganese Underground Mine

06/21/2021 | 05:43am EDT

MOIL Limited announced that an area of 814.71 Ha. was reserved by Maharashtra Government in favour of MOIL for prospecting of manganese ore in Nagpur and Bhandara districts. After exploration and requisite clearances, application for environment clearance (EC) was submitted in respect of 126.84 HA. area, which is adjacent to MOIL's Gumgaon mine. MOIL has received letter No. F.No. J-11015/74/2017-I-A.II(M) dated 18 June, 2021 from MoEF&CC communicating grant of EC of 1.02 lakh MTPA (including mineral rejects of 0.05 lakh MTPA). As the resources identified are available at a depth of more than 200 meters from the surface, underground mining will have to be resorted to. In view of this, MOIL is going ahead with purchase of land for the mine and getting other statutory clearances. In the meantime, steps for sinking of a new shaft shall be taken. This will be a new mine - 12th mine of the Company and the first new underground mine since inception.


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Financials
Sales 2022 17 044 M 227 M 227 M
Net income 2022 6 614 M 88,2 M 88,2 M
Net Debt 2022 - - -
P/E ratio 2022 5,78x
Yield 2022 4,03%
Capitalization 38 245 M 510 M 510 M
Capi. / Sales 2022 2,24x
Capi. / Sales 2023 2,14x
Nbr of Employees 5 866
Free-Float 35,6%
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Number of Analysts 0
Last Close Price 161,15 
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Mukund P. Chaudhari Chairman & Managing Director
Rakesh Tumane CFO, Finance Director & Director
C. B. Atulkar Executive Director-Technical
Neeraj Dutt Pandey Secretary & Compliance Officer
Deepak Singh Bhakar Independent Non-Executive Director
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