MOIL Manganese ore production and sales FY’20

MOIL’s production decreased by a marginal 2% in FY’20, if not for the pandemic, the company would have witnessed a growth in production. Output in Q4FY’20 majorly suffered due to loss of production during March, as there was a significant reduction of 42% in Mar’20 y-o-y production with a decrease of 57kt to 76kt.

Ore sales witnessed a major drop in the quarter due to the lockdown imposed, as the sales in Mar’20 alone had a fall by 54.5% y-o-y. Despite a sudden drop in the Mar’20 sales figure the sales drop in the FY’20 was by a marginal 7% y-o-y.