MOIL Limited Investors' and Analysts' Meet Summary
Announcement
• Transcript of the meet held on November 17, 2023, uploaded to MOIL's website.
• Communication sent to National Stock Exchange and BSE for regulatory disclosure.
Key Participants
• Chairman A.K. Saxena and other directors introduced by IDBI Capital representative.
• Ajit Saxena opened the meeting, highlighting MOIL's industry leadership.
Company Performance
• MOIL produces over 45% of India's manganese ore.
• Achieved record production and sales recently.
• Share prices increased over 80% from April to November 2023.
Growth and Sustainability
• Jay Kala presented on performance and growth prospects.
• MOIL's highest production in a decade: 13.02 lakh tons last year.
• 45% production increase in the first half of the current financial year.
• Commitment to sustainability and community development.
Future Plans
• Target of 70,000 meters of core drilling this year.
• Signed MOUs for mining collaborations in various states.
• Interest in exploring lithium production.
Production and Cost Management
• Ajit Saxena reported a 19% production increase year-on-year.
• Expecting 28-30% overall growth despite price drops.
• Focus on capital expenditures with INR 142 crores spent of projected INR 295 crores.
Joint Ventures and Exploration
• Ongoing joint ventures, particularly with GMDC.
• Exploration of new mining blocks in Madhya Pradesh and Chhattisgarh.
• Strategy to rationalize manpower and explore new mines.
Analyst Inquiries
• Questions on manganese ore quality and pricing strategies.
• Saxena confirmed MOIL's ore quality averages between 30% to 33%.
• Discussion on recovery rates and production targets.
Cash Reserves and Capital Expenditure
• Emphasis on long-term viability for investments.
• Potential plans for increasing dividend payouts.
• Clarification on pricing dynamics influenced by international prices.
Exploration Strategies
• Not using inmate fund for exploration; relying on own resources.
• Improved cost structure and production efficiency discussed.
• Confidence in exploring new materials like lithium and cobalt.
Mine Lifespan and Operations
• Unpredictability of mine closures highlighted.
• Ongoing exploration could extend mine lifespans.
• Balaghat mine's depth exploration shows successful mining beyond expectations.
Conclusion
• The session concluded with thanks to participants and an invitation to lunch.

MOIL Limited Investors' and Analysts' Meet Summary
Meeting Overview
• Date: June 16, 2023
• Transcript available on MOIL's website
• Key personnel: Chairman and Managing Director Ajit Kumar Saxena
Company Background
• Established in 1962
• Focus: Manganese ore production
• Achieved 6% growth in FY23
• Aims for double-digit growth in the current year
Production and Financial Highlights
• Profit before tax: INR 334 crores
• Highest production in a decade: 1.3 million tons
• Operates ten mines in Maharashtra and Madhya Pradesh
• Debt-free with significant cash reserves
Future Plans
• Aims to double production in three years and triple in six to seven years
• Plans for increased exploration and partnerships
• Signed MOUs for exploration in Gujarat, Madhya Pradesh, and Chhattisgarh
Industry Context
• Manganese ore is crucial for steel production; India is a net importer
• Production capacity enhancement to meet rising demand (CAGR of 4.5% over 12 years)
Q&A Session Highlights
• Analysts inquired about:
• Dividend decisions and production capacity expansion timelines
• Updates on ferroalloy and electrolytic manganese dioxide (EMD) projects
• Management confirmed ongoing projects and optimism about production targets
Capacity Expansion and Market Viability
• Considering EMD capacity expansion due to positive market performance
• No immediate plans for manganese sulfate production but can increase supply if demand arises
• Projected capex for the year: INR 290-300 crores
Logistics and Transportation
• Focus on enhancing competitiveness through rail and road options
• Joint venture with Gujarat Mineral Development Corporation expected to add 200,000 tons annually
Environmental and Regulatory Aspects
• Ongoing environmental clearances for production expansion
• Anticipate no delays in production capacity by 2025-2026
Cost Structure and Market Position
• Projected operational costs to decrease to around INR 6,500 per metric ton
• Holds about 50% market share; pricing influenced by international prices and inventory levels
Customer Base and Future Growth
• Major customers include SAIL and Jindal
• Confidence in tripling production over the next five years
• Staff costs expected to rise linearly compared to production increases
Joint Ventures and Royalties
• Gujarat joint venture projected to produce 200,000 tons in its first year
• Mine leases renewed until 2042 or 2050; stable royalty rates at 5%
• Plans to retain 70% of net profits for expansion, distributing 30% as dividends
Conclusion
• Management emphasized the importance of investing for future growth and import substitution
• Call concluded with gratitude from the moderator and an invitation to lunch.