Dekho, MOIL ne Q4 FY26 mein ₹92.6 crore ka net profit kamaya, jo pichhle saal ke ₹115.65 crore se 20% kam hai. Revenue thoda 2.5% badh kar ₹433.39 crore hua, lekin expenses 6.2% badh gaye, yani ₹353.53 crore ho gaye ₹332.96 crore se. Is wajah se EBITDA margins bhi 31.3% par aa gaye, jo pehle 32.2% the.
Is result ke baad, MOIL ka stock 5.5% gir kar ₹314.9 par aa gaya, jabki Sensex bhi 1.5% neeche tha. Abhi iska P/E ratio lagbhag 23-24x hai. Bade players jaise Coal India (9.75x) aur NMDC (11.73x) se compare karein toh yeh zyada hai, haan Gujarat Mineral Development Corporation ke aas paas hai (23.80x).
Asli gadbad hai company ki purani mines mein, jo lagbhag 100 saal purani ho gayi hain. Inki maintenance aur mining ka kharcha modern mines se kaafi zyada hota hai, isi liye total expenses badh rahe hain. Company toh 5 saal se debt-free hai, par agar infra modern karna hai toh bohot paisa lagega, jo shayad finances par load dal de. FY26 mein sales volume bhi lagbhag same hi raha aur production bhi thoda hi badha. Agar current infra ke saath scale up kiya toh aur cost badhegi.
Haan, analysts abhi bhi mostly positive hain aur price targets mein potential upside dikha rahe hain. Lekin market ka reaction bata raha hai ki MOIL ko jaldi hi cost control aur mines modernization ka clear plan batana hoga. Yeh sabhi unke long-term goals jaise 2030 tak 3.5 million tonnes manganese ore produce karne ke liye zaroori hai.
