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India’s MOIL ranked 486 in Fortune 500 companies list

MOIL (Manganese Ore (India) Limited) has earned a rare honour of entering into the list of FORTUNE 500 companies in India. It has been ranked 486th position among the 500 top companies in India and 9th in the Mines and Metals Sector.

MOIL’s (earlier known as Manganese Ore (India) Limited) shares have been formally listed in Mumbai Stock Exchange and National Stock Exchange on 15.12.2010. MOIL’s IPO was oversubscribed by 56 times particularly by the retail and HNI segments have been heartening which reflects the inherent strength and bright future of the Company. The issue fetched Rs.618.76 crores to the Government of India and Rs. 309.38 crores to the State Governments of Maharashtra and Madhya Pradesh.

The name of the Company has been changed from Manganese Ore (India) Limited to MOIL LIMITED due to the multiple areas of operations and the proposed expansion in to various fields in the coming years.

The Company has declared an interim dividend of 25% for the FY 2010-11 to its shareholders. The interim dividend cheque amounting to Rs.30.05 crore was paid to the government of India. Rs.1.60 crore to Government of Madhya Pradesh and Rs 1.94 Crores was presented to the Maharashtra government.

MOIL envisages a projection target of 11.50 lakh tones, gross sales (domestic) of Rs. 1150 crores, Gross Profit of Rs. 749.65 crores and a net profit of Rs.500.64 crores.

The vigilance department of MOIL has bagged the prestigious quality management system standard ISO 9001:208. International Certification Services Pvt. Ltd., Mumbai an organization accredited by the National Accreditation Board for Certification Bodies and JASANZ has awarded the vigilance Department of MOIL with the certificate of compliance with high quality standards in its activities. The Company has obtained OHSAS 18001:2007 Certification for implementation of Occupational Health & Safety Management System which meets the requirement of BS OHSAS 18001:2007 in respect of Balaghat Underground and Dongri Buzurg Opencast Mine.

The Company , a Prospecting Licence (P.L for manganese ore has been granted over an area of 5.36 hectares in Village Nandapuri, Tahsil Mauda, District Nagpur by the Government of Maharashtra. The e-sale done during 2010-11, the Company had conducted 22 events of e-sales in which a turnover of Rs. 116.60 crores was achieved . In addition to above , 47461 MT of manganese ore Rs. 79.24 crores has been supplied to MEL/BSP at E-Sales Price.

The Company has once again been awarded highest tax payer award for the year 2008-09 by the Madhya Pradesh Government, Commercial Tax Department. The award comprises of a citation and a cash award of Rs. 1.00 lakh. The award was given away by the Hon’ble Finance Minister, Govt. of Madhya Pradesh.

The Company has bagged four National Safety Awards, two as winners and two as runners. Chikla Mine has got both Prizes as winner for longest Accident Free Period, and lowest Injury Frequency Rate. Dongri Buzing Mine became runner twice for Lowest Injury Frequency Rate. The Company has been encouraging Quality Circle Movement since long. During the International Convention on Quality Concepts Circle held in Hyderabad on 12-15 October 2010, the company bagged Gold Awards by the Quality Circles of the Company, Panchratna Quality Circle from Dongri Buzurg Mine & Parakh Quality Circle from Tirodi Mine

In continuance of its tradition to excel in the field of safety in the mines, the Company has bagged 28 prizes in both underground and opencast category in the Annual Metalliferous Mines Safety week 2011 held under the aegis of the Directorate General of Mines Safety, Western Region. The bagged prizes for Overall Best Performance (Underground Category)- Kandri Mine , Overall Best Performance (Opencast Category) – Dongri Buzurg Mine, 14 Nos. prizes won in underground category in the areas of ventilation, cleanliness, injury rate performance, provision of safety equipments, etc. , 12 Nos . Prizes won in opencast category in the areas of Transport in mines and dust suppression, housekeeping, welfare activities, provision of safety equipments, injury rate, etc.

MOIL has once again bagged a National Energy Conservation Award. For the year 2010, the Kandri Mine of the Company has been awarded Merit Certificate.

The overall 1st , 2nd and 3rd prizes have been bagged by Balaghat, Chikla and Ukwa Mines respectively in respect of underground mines. In addition, a total of 24 Nos. Prizes have been bagged in underground category in different areas such as reclamation / rehabilitation, management of sub-grade minerals, water management, Protective measures and aesthetic beauty, propaganda etc.

In the Opencast Mines, overall 3rd prize was bagged by Dongri Buzurg Mine. In addition a total of 6 Nos. prizes have been bagged in underground category in different areas such as reclamation / rehabilitation, management of sub-grade minerals, water management, Protective measures and aesthetic beauty, propaganda, etc.

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