Moil533286Quarterly results

Board approves Q2 and H1 FY27 results, declares Rs. 2.20 interim dividend; auditor review unmodified

Board approved unaudited standalone and consolidated results for the quarter and half year ended 30.09.2026, with an unmodified limited review conclusion.

By ScoutQuest · Mon 2 Nov 2026, 4:20 PM IST · 3 min read

Interim Dividend: Rs. 2.20 per equity share (face value Rs. 10)
Dividend Record Date / Payment Date: record date 06.11.2026, payment 30.11.2026
Standalone Net Profit for the Quarter: Rs. 6177.76 lakh

What the Board approved

The unaudited standalone and consolidated financial results for the quarter and half year ended 30.09.2026, along with the Limited Review Report of the auditors.
An interim dividend of Rs. 2.20 per equity share of face value Rs. 10 each. The record date for payment is 06.11.2026 and the date of payment of interim dividend is 30.11.2026.
Incorporation of a wholly owned subsidiary of the company as an IFSC company in GIFT City, subject to the requisite approval of Government authorities.

Quarterly numbers, standalone (Rs in lakhs)

Revenue from operations: 36913.28, against 33274.44 in the same quarter a year earlier.
Total income: 38502.49, against 36302.47.
Profit before tax: 7713.45, against 8975.57.
Net profit for the period: 6177.76, against 7043.85.
Earnings per share (basic and diluted, Rs 10 each): 3.04, against 3.46.

Half year numbers, standalone (Rs in lakhs)

Revenue from operations: 74001.61; Total income: 77615.85; Net profit for the period: 14939.37; basic and diluted EPS: 7.34.
On a consolidated basis, Revenue from operations was 74001.61, Total income 77615.85 and Net profit for the period 14939.07 for the half year.

Auditor's review conclusion

The limited review report states that, based on the review, nothing has come to the auditor's attention that causes them to believe the statement is not in accordance with the applicable accounting standards or contains any material misstatement. The conclusion is not modified by the matters listed below; those are Emphasis of Matter paragraphs, which draw attention to specific items.

Points the auditor drew attention to

The consolidated results include MOIL MPSMCL Mining Limited, a joint venture with Madhya Pradesh State Mining Corporation Limited, incorporated on 4 June 2026; the shareholders' agreement is yet to be finalised.
A significant portion of the opening stock of low-grade (LGHS) inventory remained unsold during the quarter and half year, to the tune of Rs 15814.11 lakh.
Identification and monitoring of MSME vendors is carried out through manual processes, as Udyam registration details are not integrated into the SAP vendor master.
A penalty of Rs. 1,677.09 lakh plus an additional demand of Rs. 54.54 lakh towards economic benefits was imposed by the Collector, Balaghat, for violation of the capacity permitted under the environmental clearance at Tirodi Mine. The company treats the entire demand of Rs. 1,731.63 lakh as a contingent liability and has made no provision of Rs. 519.60 lakh.
The Electrolytic Manganese Dioxide plant and the Ferro Manganese plant remained under major repairs for most of the quarter and half year; management states the shutdown is temporary, for technology enhancement, process improvement and inventory optimisation, with production expected to resume on completion.
The company has not carried out an assessment of the potential impact of the new Labour Codes effective 21 November 2025, and no provision has been recognised; management is of the view that the impact will not be material.
The Board and Audit Committee do not have the requisite number of Independent Directors as required under the Listing Regulations and the Companies Act, 2013; the results were approved by the Board on the recommendation of the Audit Committee as constituted.

How to read this

Two things sit side by side. The company has declared a cash dividend and reported a higher half-year profit than a year earlier, while quarterly net profit was lower year on year. At the same time, the auditor has flagged a set of items, including an environmental penalty demand treated as a contingent liability and a Board without the full complement of independent directors, which investors may want to track in later updates.

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