It’sImproved pricing environment with 10-15% price hike by MOIL Limited (MOIL) in March 2022 to drive margin expansion going ahead
Sharp 36% rally in international manganese ore price in CY2022 YTD to support realisation and profitability
MOIL is well placed to grow its sales volume and management’s production target of 3mt by CY2030E implies robust 11% CAGR over FY2021-FY2024E
The optimism stems from India’s target to grow steel production by 2.5x to 300mt over CY2021-CY2030E
We conservatively model a 4% volume CAGR over FY2021-FY2024E. Strong cash position and healthy dividend yield of 4-5% provide comfort to investors.
It has touched an intraday high of Rs 188.50 and an intraday low of Rs 175.15.
The share touched its 52-week high Rs 208.00 and 52-week low Rs 135.25 on 22 June, 2021 and 25 March, 2021, respectively.
Currently, it is trading 10.89 percent below its 52-week high and 37.04 percent above its 52-week low.