India: MOIL’s manganese ore sales growth outpaces rise in production in H1FY’27

• Company achieves 37% of its production target
• Production target of 2.585 mnt set for FY’27

State-owned manganese ore producer MOIL Ltd’s manganese ore production inched up y-o-y in H1FY’27, while sales recorded stronger growth, according to the company’s provisional business update. Cumulative production stood at 0.961 million tonnes (mnt), up around 2% y-o-y from 0.944 mnt in H1FY’26, while sales increased by nearly 10% y-o-y to 0.778 mnt, compared with 0.710 mnt a year earlier.

Sales growth outpaces production during H1

While production increased by only around 0.017 mnt y-o-y, sales volumes rose by 0.068 mnt, suggesting that a larger share of available material was absorbed by the market. The trend could remain relevant for domestic manganese ore availability, particularly amid firm ferro alloy demand and recent upward revisions in domestic ore prices.

MOIL needs stronger H2 output to meet target

MOIL has set a FY’27 manganese ore production target of 2.585 mnt. With H1 production at 0.961 mnt, the company has achieved around 37% of its annual target, leaving 1.624 mnt to be produced in H2.

Overall, H1FY’27 data show stronger sales momentum than production growth, while the sizeable H2 production requirement makes output performance a key factor to watch in the coming months.