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Manganese Ore (India) Limited (MOIL), a Miniratna PSU under the Ministry of Steel has signed a Memorandum of Understanding with the Government for year 2005-06. The MoU was signed between Dr. Mano Ranjan, Secetary, Ministry of Steel and Shri P.M.Reddy, Chairman-cum-Managing Director, MOIL. Dr. S.N.Dash, Jt. Secretary, (Steel) was also present. This is the 15th consecutive year that MOIL signed MoU. It is well known that MOIL is a star performer under the ministry of Steel and the Company has been rated EXCELLENT under MoU for the last 9 consecutive years . MOIL is the market leader in the manganese industries in India. The annual production is around 9.0 lakh tonnes, out of which about 6.0 lakh tonnes is high grade ore required for ferro alloy industry.
The MoU for the year 2005-06 envisages an expected turn over of Rs.278.67 crores, the Company plans to achieve a net profit after tax of Rs. 50.81 crores.
BJ:PM
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