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Net Sales are expected to decrease by 25.3 percent Q-o-Q (up 26.6 percent Y-o-Y) to Rs 270 crore, according to HDFC Securities. MOIL to report net profit at 100 crore down 5.4% quarter-on-quarter.
MOIL reported a stellar third quarter numbers with a seven-fold jump in its standalone net profit to Rs 105.40 crore. Revenue for the quarter rose 29.2 percent to Rs 275 crore.
In an interview with CNBC-TV18, GP Kundargi, CMD of MOIL said that manganese ore prices bottomed out in the fourth quarter of FY16 and prices are down by 60 percent year-on-year (YoY).
Although oversupply in the market has put pressure on prices, GP Kundargi, CMD, MOIL is confident of holding margins above 40 percent. Going ahead, he expects margins to breach 45 percent in FY15.
KJ Singh, chairman and managing director of MOIL says, he expects the demand to be good this financial year.
KJ Singh, chairman & managing director, MOIL, says that our revenue realisation for this year is Rs 7515 due to decline in manganese price across the world and the company has adopted international pricing model in domestic market so there was downtrend in the price.
Angel Broking has come with its December quarterly earning estimates for Metal sector. According to the research firm, for Q3FY12, the steel space will continue to face challenges (as witnessed in 2QFY2012) amid high raw-material costs, low demand and ongoing European debt crisis.
State-run MOIL Limited posted a 32% decline in net profit at Rs 101 crore for the second quarter of FY11. The company, which produces Manganese Ore, had a net profit of Rs 148.25 crore while their net sales stood at Rs 248.33 crore.
Angel Broking has come out with its earning estimates on metals sector for the quarter ended September 2011. According to the research firm, MOIL September quarter net sales are expected to go down by 36.8% at Rs 180 crore, year-on-year (YoY) basis.
Speaking to CNBC-TV18, KJ Singh, chairman and managing director of MOIL, said that the company is still facing pricing pressure; however, higher volumes will support growth. The company’s current cash reserves at around Rs 2,000 crore.
Angel Broking has come out with its earning estimates on metal sector for the quarter ended March 2011. According to the research firm, MOIL March quarter net sales are expected at Rs 354 crore, year-on-year, (YoY) basis.