MOIL
MOIL Limited is India's largest manganese ore producer, a Government of India Miniratna PSU operating 11 mines. The company sells ferro and silico-manganese grades, fines, and electrolytic manganese dioxide directly to domestic steel plants, alloy producers, and battery manufacturers.
- Company typePublic
- Founded1962
- HeadquartersNagpur, India
- Headcount5,001–10,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What MOIL does
MOIL Limited (formerly Manganese Ore India Limited) is a Miniratna public sector undertaking and the largest manganese ore producer in India, established in 1962 and headquartered in Nagpur, Maharashtra. The Government of India is its parent entity, and the company is publicly listed on both the NSE and BSE under the ticker MOIL. MOIL operates 11 mines primarily located in Central India (Maharashtra and Madhya Pradesh) and engages in exploration, extraction and processing of manganese ore. The company commands roughly 20% of the Indian manganese ore market and has publicly targeted expanding this share to 32% by 2030.
MOIL produces a portfolio of manganese-based products covering different ore grades — ferro grades, silico manganese grades (SMGR), Metal Mandi Fines, and Electrolytic Manganese Dioxide (EMD) — serving both steel/alloy producers and emerging battery/EV applications. The company's core technology centres on mechanised mining and ore processing, with ongoing infrastructure investments such as the third vertical shaft project at the Chikla Mine (awarded to SEPC Ltd in late 2025) to deepen extraction capacity and improve operational efficiency. FY26 cumulative manganese ore production reached 19.07 lakh metric tonnes, with a record Q3 FY26 output of 4.77 lakh tonnes marking the highest-ever third-quarter performance.
MOIL's business model is a B2B commodity model: the company sells manganese ore products directly to steel plants, alloy producers and industrial manufacturers through established enterprise sales relationships, with periodic price revisions aligned to prevailing market conditions (most recently effective January 1, 2026). The primary customer segment is the steel industry, where manganese is a critical input for steel production; secondary demand comes from industrial manufacturing (electronics, solar panels) and EV battery applications via EMD. Revenue is generated on a unit-pricing basis under a single-country (India) distribution footprint delivered through direct industrial sales channels. According to the most recent disclosed figures, FY26 revenue was Rs 1,472.84 crore (down 7.07% YoY) and net profit was Rs 267.48 crore (down 29.91% YoY).
MOIL firmographics
Firmographics- Name
- MOIL
- Legal name
- MOIL Limited
- Website
- https://moil.nic.in
- Company type
- Public
- Founded year
- 1962
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- MOIL Limited is India's largest manganese ore producer, a Government of India Miniratna PSU operating 11 mines. The company sells ferro and silico-manganese grades, fines, and electrolytic manganese dioxide directly to domestic steel plants, alloy producers, and battery manufacturers.
- Ownership category
- akta.pro rank
MOIL industry classification
Industry- Product category
- Manganese Ore Mining
- NAICS
- Other Basic Inorganic Chemical Manufacturing (325180), Basic Chemical Manufacturing (3251)
- SIC
- Miscellaneous Metal Ores (1090), Metal Mining (1000)
- akta.pro primary industry
- Manganese Ore Mining & Concentrates (IMAKAFAF)
- akta.pro secondary industry
- Battery-Grade Chemical Processing (LiOH/Li2CO3, Ni/Co Sulfates, Mn Sulfate) (IMAKAFAI)
Keywords
Where MOIL is headquartered
LocationHeadquarters
- HQ city
- Nagpur
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
MOIL business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Personnel, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Manganese Ore Sales: MOIL generates revenue primarily through mining and selling manganese ore products including ferro manganese, silicon manganese, and electrolytic manganese dioxide to steel, alloy, and battery industries
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Ferro grades price increase |
| Unit Pricing | Pay-as-you-go | Manganese ore price adjustments |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels2 records
MOIL product offering
Product offeringCore offering
MOIL mines and sells various grades of manganese ore (Ferro Grades, SMGR Grades, Metal Mandi Fines, and Fines) from its 11 mines in Madhya Pradesh and Maharashtra. The company also produces Electrolytic Manganese Dioxide (EMD) for battery manufacturers, operating as a Miniratna public sector enterprise under the Government of India.
Product overview
MOIL (Manganese Ore India Limited) is a Miniratna public sector mining enterprise and India's leading producer of manganese ore. The company operates mining operations across Maharashtra and Madhya Pradesh, engaging in exploration, extraction, and processing of manganese ore. MOIL produces and markets various manganese-based products including different ore grades (ferro grades, SMGR grades), metal mandi fines, and electrolytic manganese dioxide, serving primarily the steel and alloy industries.
Differentiator
Problem solved
Functional benefit
Products and services
- Manganese Ore - Ferro Grades Manganese ore in Ferro Grades produced from MOIL's mines, supplied primarily to ferro alloy producers and integrated steel plants as a key input for steelmaking and ferro alloy production.
- Manganese Ore - SMGR Grades Manganese ore sold in SMGR (Silico Manganese Grade) specifications, supplied to silico manganese producers and steel manufacturers requiring this specific grade for steel and alloy production.
- Manganese Ore - Metal Mandi Fines Manganese ore fines classified as Metal Mandi Fines, supplied to industrial buyers for use in steelmaking and alloy production processes.
- Manganese Ore - Fines Manganese ore fines grade supplied to industrial customers as feed material for sintering and steel making operations.
- Electrolytic Manganese Dioxide (EMD) Electrolytic Manganese Dioxide produced for battery manufacturers as a high-purity cathode material used in dry-cell and other battery production.
- Mining and Exploration Services Mineral exploration, mine development, and operational mining services across MOIL's 11 mines in Madhya Pradesh and Maharashtra, supporting the company's manganese ore reserves and production capacity.
Quantifiable outcome
- Record Q3 FY26 production of 4.77 lakh tonnes
- +1 more outcomes
Companies that use MOIL
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles2 records
MOIL technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
MOIL partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor.
- SEPC LtdminorSEPC Ltd awarded work order for design, construction and commissioning of a third vertical shaft at Chikla Mine in Maharashtra. SEPC emerged as lowest bidder in global tender process, with contract valued at Rs 1.68 billion for domestic scope and USD 3.65 million for imported plant and machinery. Project involves complete turnkey execution including engineering, civil construction, and equipment installation.
- IGGMCH (Indira Gandhi Government Medical College and Hospital)minorCSR partnership providing free knee replacement surgeries to economically weaker patients in Nagpur and Bhandara districts within 10km radius of mining areas. MOIL provides CSR funding for approximately 100 surgeries annually, valued at Rs 2.5-3 lakh per knee replacement in private hospitals.
Scale indicators8 records
Recent moves5 records
Expansion highlights4 records
MOIL competitors and assessment
Company assessmentBroad incumbents
- Glencore: Swiss commodities major producing and trading a wide range of metals including manganese alloys and ore. Comparable as a large broad-incumbent player that influences global manganese pricing via both production and trading activities.
- Anglo American: Global diversified miner that historically held a stake in Vale's manganese business and remains a major player in bulk commodities. Comparable as a broad incumbent in metal ore mining rather than as a pure-play manganese competitor.
Direct peers
- Eramet: French mining and metallurgy group; the world's largest pure-play manganese ore and alloy producer (via Eramet Manganese) and operator of the Gabonese Moanda mine. Most directly comparable globally on manganese ore product mix, downstream alloys, and exposure to steel-customer demand.
- Hindustan Zinc: Indian listed mining PSU (Vedanta-controlled) and one of the world's largest integrated zinc-lead-silver producers. Comparable on the listed PSU / government-linked Indian mining company model, similar scale, and capital-markets/governance profile.
- South32: Australian diversified miner spun out of BHP; owns the Groote Eylandt Mining Company (GEMCO), one of the world's largest and lowest-cost manganese ore operations. Directly comparable as a globally significant manganese ore producer with similar end-customer profile.
- OM Holdings: Singapore-listed (with Australian roots) vertically integrated manganese ore and ferroalloy producer operating mines in South Africa and Malaysia plus a smelter in China. Closely comparable as a manganese-ore-focused miner with downstream alloy exposure.
- Vale: Brazilian mining major with a dedicated Vale Manganese segment (operated jointly with Anglo American until the 2024 buy-out) producing ore in Brazil. Comparable on commodity mix and global scale, though Vale is far more diversified across iron ore, nickel, and copper.
- NMDC (National Mineral Development Corporation): Indian government-owned Miniratna mining PSU and the country's largest iron ore producer. Comparable on Indian-PSU-mining structure, government parentage, similar regulatory moats, BSE/NSE listing, and overlapping steel-industry customer base.
Emerging players
- Premier African Minerals: London-listed emerging producer focused on battery and critical minerals, including the Zulu lithium/tantalum project and earlier-stage manganese prospects. Comparable as a smaller emerging manganese-adjacent miner targeting the battery-supply chain upside.
- Tronox Holdings (EMD / battery materials): Global producer of mineral sands and inorganic specialty chemicals including battery-grade manganese products. Comparable on the EMD / manganese-chemicals product line, which represents MOIL's bridge into battery materials.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
MOIL social profiles
Digital presenceMOIL financial estimates
Financial estimateRevenue estimate
Valuation estimate
MOIL leadership team
Management profileNumber of profiles
Profiles4 records
MOIL funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MOIL M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MOIL
What does MOIL do?
MOIL mines and sells various grades of manganese ore (Ferro Grades, SMGR Grades, Metal Mandi Fines, and Fines) from its 11 mines in Madhya Pradesh and Maharashtra. The company also produces Electrolytic Manganese Dioxide (EMD) for battery manufacturers, operating as a Miniratna public sector enterprise under the Government of India.
Is MOIL a public or private company?
MOIL is a public company. It is classified as state government owned and is currently operating.
When was MOIL founded?
MOIL was founded in 1962. It employs 5,001 to 10,000 people.
Where is MOIL based?
MOIL is headquartered in Nagpur, India, in the Asia region.
How does MOIL make money?
One revenue line is on record: manganese Ore Sales.
Who are MOIL's main competitors?
Broad incumbents on record are Glencore and Anglo American. Direct peers are Eramet, Hindustan Zinc, South32, OM Holdings, Vale and NMDC (National Mineral Development Corporation). Emerging players are Premier African Minerals and Tronox Holdings (EMD / battery materials).
Does MOIL have an API?
No public API is recorded for MOIL.
What industry is MOIL in?
MOIL's product category is Manganese Ore Mining. Its primary akta.pro industry code is IMAKAFAF, Manganese Ore Mining & Concentrates, with a secondary code of IMAKAFAI, Battery-Grade Chemical Processing (LiOH/Li2CO3, Ni/Co Sulfates, Mn Sulfate). Its NAICS code is 325180 and its SIC code is 1090.