MOMoil533286Quarterly results

Board approves GIFT City IFSC subsidiary, declares Rs. 2.20 interim dividend, Q2 results

Board approved incorporating a wholly owned subsidiary as an IFSC company in GIFT City, subject to government approvals.

By ScoutQuest · Mon 2 Nov 2026, 4:25 PM IST · 2 min read

Interim dividend per share

Rs. 2.20 per equity share of face value Rs. 10 each

Q2 FY27 revenue from operations (Rs. lakh)

36913.28

Q2 FY27 net profit (Rs. lakh)

6177.76

This update carries three board decisions plus an auditor's review with several emphasis points.

New GIFT City subsidiary

• The Board approved incorporation of a wholly owned subsidiary as an IFSC company in GIFT City (Gujarat International Finance Tec-City).
• The incorporation is subject to the requisite approval of the Government authorities.
• This is an approval to incorporate; the update describes the entity as an IFSC company in GIFT City.

Q2 and H1 FY27 results (standalone, figures in Rs. lakh)

• Quarter ended 30.09.2026: revenue from operations 36913.28, net profit 6177.76, basic EPS Rs. 3.04.
• Quarter ended 30.09.2025 (as printed): revenue from operations 33274.44, net profit 7043.85, basic EPS Rs. 3.46.
• Half year ended 30.09.2026: revenue from operations 74001.61, net profit 14939.37, basic EPS Rs. 7.34.
• The company has prepared consolidated results for the first time, including its joint venture with MOIL MPSMCL Mining Limited.

Interim dividend

• Rs. 2.20 per equity share of face value Rs. 10 each.
• Record date 06.11.2026; date of payment 30.11.2026.

Matters the auditor drew attention to

• A demand of Rs 1677.09 lakh raised by the District Collector, Balaghat on 30.01.2025 for violation of Environment Clearance limits is treated as a contingent liability. The auditor notes that no provision of Rs. 519.60 lakh (including Rs. 54.54 lakh towards economic benefits) has been made, and the entire demand of Rs. 1,731.63 lakh is treated as contingent.
• Opening stock of low-grade (LGHS) inventory to the tune of Rs 15814.11 lakh remained unsold during the quarter and half year.
• The Electrolytic Manganese Dioxide plant was under a temporary planned shutdown, and the Ferro Manganese plant was shut for a temporary period and has resumed operation. Customer commitments were met from finished goods inventory.
• The company has not carried out an assessment of the potential impact of the new Labour Codes effective 21 November 2025; management's view is that the impact will not be material.
• The Board and the Audit Committee do not have the requisite number of Independent Directors as required under the Listing Regulations and the Companies Act, 2013; the company has written letters requesting early appointment.
• The Comptroller and Auditor General of India pointed out grouping of inventories for FY 2025-26; the company says it is assessing this and will take corrective action in subsequent quarters.

Reading it together

• The dividend and the two dates (record date 06.11.2026, payment 30.11.2026) are the concrete, near-term items for shareholders.
• The quarterly and half-yearly numbers show the operating picture, while the auditor's emphasis points flag matters such as the contingent demand, unsold low-grade stock and the independent-director gap.
• The subsidiary approval is a first step and remains subject to government approvals.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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