State-run MOIL has implemented a 5% price increase across all manganese ore grades for October 2026, effective from midnight on September 30/October 1. The revised prices came into effect from midnight on September 30, 2026, and will remain applicable through October 2026. As reported by CNBC TV18, the price increases apply to all ferro grades of manganese ore with manganese content of 44% and above, as well as ferro grades with manganese content below 44%. The revision also covers chemical grades, SMGR grades and fines, representing a broad-based upward adjustment rather than selective grade-specific changes. This follows a 4% to 5% price cut in August 2026, indicating a tactical shift to capitalize on robust domestic steel output.
MOIL reported exceptional financial results for Q1 FY27, with net profit surging 70.11% year-on-year to ₹87.62 crore compared to ₹51.51 crore in Q1 FY26. The company's revenue grew 6.56% YoY to ₹370.88 crore, up from ₹348.06 crore in the corresponding quarter last year. According to the latest reports, EBITDA increased 72.3% to ₹135.8 crore, compared with ₹78.8 crore a year earlier. The sharp rise in EBITDA lifted the company's EBITDA margin to 36.6% in Q1 FY27, from 22.6% in the corresponding quarter last year. This strong performance reflects the company's ability to capitalize on resilient domestic demand from the Indian steel industry, with India's crude steel output growing 10% providing a strong consumption backdrop. The upward price revision is expected to support MOIL's average realizations and bolster operating margins during the third quarter of FY27.
MOIL demonstrated strong operational performance in September 2026, with provisional manganese ore production rising to 1.81 lakh tonnes from 1.52 lakh tonnes in the year-ago period. As per CNBC TV18, sales during the month stood at 1.64 lakh tonnes, compared with 1.42 lakh tonnes in September 2025. On a cumulative basis, MOIL's production stood at 9.61 lakh tonnes in FY2026-27, compared with 9.44 lakh tonnes in the corresponding period of FY2025-26. Cumulative sales rose to 7.78 lakh tonnes from 7.10 lakh tonnes over the same period. The company has set an ambitious production target of 25.85 lakh tonnes for FY2026-27, indicating confidence in sustained demand and operational efficiency improvements.
Separately, MOIL has maintained its pricing strategy for electrolytic manganese dioxide (EMD) products. According to the exchange filing, the basic price of EMD remains unchanged at ₹1,80,000 per tonne for October 2026, while the basic price of EMD flakes has also been retained at ₹1,71,000 per tonne. This pricing decision reflects the company's approach to maintaining stability in its EMD product portfolio while implementing adjustments in its core manganese ore business.
Market reaction to the price announcement showed mixed sentiment, with MOIL shares closing 2.09% lower at ₹232.79 on the NSE on October 1. However, the stock has faced a year-on-year decline of approximately 36%, indicating broader market challenges. The 5% price hike is expected to be a marginal cost escalator for domestic steel and ferroalloy manufacturers, as manganese is a key alloying element. Despite this near-term impact, with solid domestic infrastructure demand, steel makers are likely to absorb the costs. Additionally, the Government of India has extended CMD Vishwanath Suresh's additional charge as Director (Human Resource) for one year effective October 1, 2026, reinforcing management continuity as the company pursues its long-term expansion goals. MOIL operates as a Schedule 'A' Miniratna Category-I company and produces different grades of manganese ore, including high-grade ores for ferro manganese, medium-grade ore for silico manganese, blast furnace-grade ore and dioxide for dry battery cells and chemical industries.
