MOIL Limited — Annual Report 2024

May 15, 2024

(A Government of India Enterprise) MOIL Bhavan, 1A, Katol Road, Nagpur – 440 013 ☎ : 0712-2806100, 2806182 /216 E-Mail : compliance@moil.nic.in Website: www.moil.nic.in Telefax: 0712-2591661 CIN No: L99999MH1962GOI012398

CS/NSE-BSE/2024-25/42 Date: 15.05.2024

G

To, The GM (Listing), National Stock Exchange of India Ltd, Exchange Plaza, Plot No.C-1, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400053

To, Listing Department Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai- 400001

Sub : Audited Financial Results for the quarter and year ended on 31/03/2024 and Recommendation of Final Dividend.

Stock Code: NSE: MOIL BSE: 533286 ISIN: INE490G01020

Dear Sir,

This is further to our letter no. CS/NSE-BSE/2024-25/41 dated 06.05.2024. In this regard, it is to inform that the Board of Directors of the Company in their meeting held today has:

1. Approved the Audited Financial results of the Company for the quarter and year ended on 31st March, 2024. We are attaching herewith a copy of the approved results along with the Auditor's Report and declaration under second proviso of Regulation 33(3)(d).

We are also arranging publication of results in newspapers, as per SEBI (LODR) Regulations 2015.

1. Recommended Final dividend of Rs. 2.55 per equity share of face value of Rs.10 each, for the financial year ended on 31st March, 2024.

Meeting Started: 16:15 hrs. Meeting Ended: 19:00 hrs.

Yours faithfully,

For MOIL Limited

Neeraj Dutt Pandey Digitally signed by Neeraj Dutt Pandey Date: 2024.05.15 19:06:36 +05'30'

(Neeraj Dutt Pandey) Company Secretary cum Compliance Officer

Encl.: As above

CIN: L99999ME1962GOI012398

Statement of audited financial results for the quarter and year ended 31st March, 2024

						(tin lakhs)
Sr.	Particulars	For quarter ended			Forthe	Forthe
No.					financial	financial
					year ended	year ended
		31.03.2024	31.12.2023	31.03.2023
		Audited	Unaudited	Audited	31.03.2024 Audited	31.03.2023 Audited
1	(a) Revenue from operations	41587.55	30630.63	42806.34	144942.45	134164.60
	(b) Other income	2398.15	2341.88	1999.40	9353.51	7687.35
	Total income	43985.70	32972.51	44805.74	154295.96	141851.95
	2 Expenses
	(a) Cost of materials consumed at plants	612.63	651.71	317.13	2387.93	1983.84
	(b) Purchase of stock-in-trade	0.00	0.00	0.00	0.00	0.00
	(c) Changes in inventories of finished goods, stock in trade and work-in-process	918.77	-5018.24	1751.28	-4465.93	-6274.49
	(d) Employee benefits expense	15070.11	13911.84	13993.74	55511.10	57011.02
	(e) Depreciat10n and amortisation expense	3926.69	3650.51	3146.95	14424.86	11433.92
	(t) Other expenses	12161.38	12141.46	13493.23	47737.85	44534.44
	Total expenses	32689.58	25337.28	32702.33	115595.81	108688.73
	3 Profit/ (loss) before exceptional items and tax [1 - 2]	11296.12	7635.23	12103.41	38700.15	33163.22
	4 Exceptional items	0.00	0.00	0.00	0.00	-281.66
	5 Profit/ (loss) before tax [3 - 4]	11296.12	7635.23	12103.41	38700.15	33444.88
	6 Tax expense
	(a) Current tax	2931.52	2201.22	3750.51	10643.87	9071.63
	(b) Ear her year tax	-954.22	0.00	0.00	-954.22	-127.64
	(b) Deferred tax	203.93	24.25	258.11	-323.57	-558.15
	Total tax expense	2181.23	2225.47	4008.62	9366.08	8385.84
	[5- 6] 7 Net profit/ (loss) for the period from continuing operation	9114.89	5409.76	8094.79	29334.07	25059.04
	8 Extraordinary items (Net of tax expense)	0.00	0.00	0.00	0.00	0.00
	[7- 8] 9 Net profit/ (loss) for the period	9114.89	5409.76	8094.79	29334.07	25059.04
	10 Other comprehensive income
	A (i) Items that will not be reclassified to profit or loss	2756.69	-887.51	-2370.87	85.89	-3425.18
	(it) Income tax relating to items that will not be reclassified to profit or loss	-692.33	224.65	1115.03	-18.39	855.79
	B (i) Items that will be reclassified to profit or loss	0.00	0.00	0.00	0.00	0.00
	(ii) Income tax relating to items that will be reclassified to profit or loss	0.00	0.00	0.00	0.00	0.00
	Other comprehensive income for the period ( net of tax)	2064.36	-662.86	-1255.84	67.50	-2569.39
	11 Total Comprehensive Income for the period r9 + 101	11179.25	4746.90	6838.95	29401.57	22489.65
	12 Paid-up equity share capital (Face value of sharer 10 each)	20348.52	20348.52	20348.52	20348.52	20348.52
	13 Other equity excluding revaluation reserve as per balance sheet	224958.74	220901.47	204083.21	224958.74	204083.21
	14 Earnings per share from continuing operation
	(a) Basic (t IO each )	4.48	2.66	3.98	14.42	12.31
	(b) Di luted (t IO each)	4.48	2.66	3.98	14.42	12.31
	FLM : MOIL/HO/FI & AUDIT /2024/73

Statement of assets and liabilities

(tin lakhs)

Sr	Particulars	As at	As at
No		31.03.2024	31.03.2023
		Audited	Audited
	1 ASSETS
	Non-current assets
	(a) Property, Plant and Equipment	86660.50	81245.62
	(b) Capital work-in-progress	33185.34	26176.90
	( c) Investment Property	0.00	0.00
	(d) Other Intangible assets	5937.51	3966.32
	( e) Intangible assets under development	2547.39	965.96
	(f) Financial Assets
	(i) Investments	766.56	755.31
	(ii) Trade receivables	0.00	0.00
	(iii) Loans	172.95	177.06
	(iv) Others	179.60	3521.83
	(g) Deferred tax assets (Net)	2887.11	2563.54
	(h) Other non-current assets	10129.13	10664.42
	Sub-total - Non-current assets (1)	142466.09	130036.96
	2 Current assets
	(a) Inventories	21248.03	17023.62
	(b) Financial Assets
	Investments (i)	12055.07	14298.90
	(ii) Trade receivables	20939.08	14334.00
	(iii) Cash and cash equivalents	3996.85	1305.04
	(iv) Bank balances other than (iii) above	75014.15	79945.33
	(v) Loans	364.27	330.39
	(vi) Others	3487.85	3140.95
	(c) Current tax assets (Net)	1124.62	2430.05
	(d) Other current assets	8051.95	6323.21
	Assets held for sale	134.29	0.00
	Sub-total - Current assets (2)	146416.16	139131.49
	TOTAL -ASSETS (1+2)	288882.25	269168.45
	EQUITY AND LIABILITIES
	1 Equity
	(a) Equity Share capital	20348.52	20348.52
	(b) Other Equity	224958.74	204083.21
	Sub-total - Equity (1)	245307.26	224431.73
	Liabilities
	2 Non-current liabilities
	(a) Financial Liabilities
	(i) Borrowings	0.00	0.00
	(ii) Trade payables	0.00	0.00
	(iii) Other financial liabilities ( other than those specified)	120.63	42.24
	(b) Provisions	7847.85	6706.51
	(c) Other non-current liabilities	0.00	0.00
	Sub-total - Non-current liabilities (2)	7968.48	6748.75
3	Current liabilities
	(a) Financial Liabilities
	(i) Borrowings	0.00	0.00
	(ii) Trade payables	3810.83	3060.64
	(iii) Other financial liabilities	22894.70	21438.85
	(b) Other current liabilities
		4635.93	6071.96
	(c) Provisions	4265.05	7416.52
	[d) Current Tax Liabilities (Net)	0.00	0.00
	Sub-total - Current liabilities (3)	35606.51	37987.97 269168.45

FLM : MOIL/HO/FI & AUDIT /2024/73

Segment-wise revenue, audited financial results for the quarter and year ended 31st March, 2024 and assets and liabilities as on that date.

(tin lukhs) Sr. Particulars For quarter ended Forthe For the No. financial financial year ended year ended 31.03.2024 31.12.2023 31.03.2023 31.03.2024 31.03.2023 Audited Unaudited Audited Audited Audited 1 Segment revenue (a) Mining products 38553.14 29389.76 39711.49 137710.55 124744.88 (b) Manufactured products 3309.55 1692.51 3125.03 8297.09 10694.69 (c) Power 553.10 362.91 404.51 2245.25 2132.91 Sub-total 42415.79 31445.18 43241.03 148252.89 137572.48 ( . ) lnter-seement revenue 828.24 814.55 434.69 3310.44 3407.88 Sales/income from operations 41587.55 30630.63 42806.34 144942.45 134164.60 2 Segment results [Profit/(•)loss before exceptional items, tax and interest] (a) Minmg prnducts 8381.03 5177.89 9597.31 27000.22 22491.88 (b) Manufactured products 268.62 18.25 358.06 1089.75 1708.44 (c) Power 248.32 97.21 148.64 1256.67 1275.55 Sub-total 8897.97 5293.35 10104.01 29346.64 25475.87 ( +) Other unallocable Income (net of unallocable expenditure) 2398.15 2341.88 1999.40 9353.51 7687.35 Profit from ordinary activities before exceptional items ancl tax 11296.12 7635.23 12103.41 38700.15 33163.22 3 Segment assets (a) Mining products 144440.48 135485.54 123411.84 144440.48 123411.84 (b) Manufactured products 6024.52 6678.78 4046.79 6024.52 4046.79 (c) Power 6706.08 6863.13 7370.03 6706.08 7370.03 (d) Unallocated 131711.17 140245.14 134339.79 131711.17 134339.79 Total 288882.25 289272.59 269168.45 288882.25 269168.45 4 Segment liabilities (a) Mining products 22262.51 25386.53 19171.84 22262.51 19171.84 (b) Manufactured products 793.28 695.28 1523.97 793.28 1523.97 (c) Power 850.99 741.87 1092.58 850.99 1092.58 (d) Unallocated 19668.21 21198.92 22948.33 19668.21 22948.33 Total 43574.99 48022.60 44736.72 43574.99 44736.72 Notes: (I) The above results. reviewed by the Audit Committee, have been approved by the Board of Directors in its meeting held on 15th May, 2024 and have been audited by Statutory Auditors of the company. This statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules. 2015 (Ind AS) prescribed under Section I 33 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable. The audited accounts are subject to Supplementary Audit by the Comptroller and Auditor General of India under section 143(6) of the Companies Act, J/\ 11 (2) The Board has recommended final dividend on' 2.55 per equity share for the financial year 2023-24 subject to the approval of shareholders at the ensuing Annual General meeting of the Company, in addition tot 3.50 per equity share already paid as interim dividend. (3) Information about investor complaints for the quarter: Opening - NiL received during the quarter- Nil, resolved during the quarter - Nil and pending as at 31 .03.2024 - Nil. (4) Previous period's figures have been regrouped/reclassified, wherever necessary to make them comparable. The figures for the quarter ended 31st March.2024/2023 are balancing figures between the audited figures of full year and reviewed figures upto 31st December,2023/2022. As per our repon of even <Jule For M/s TACS & Co., For MOIL Limited, Chartered Accountants fl~ ""'"""':,_c.s & "o ----- ^Iog 0 ¹ ( ~ NAGPUR 'ci ~ lrJ~ 11 ~ + * * CA Gaurav B Sharma n NAGPUR u, 1 AjitK a r Saxena Partner i ~ * Chairman-cum-Managing Director Membership Number: 121121 ~f//f" - DIN: 08588419 uo1N, 1-", 1,, 2, B(.C. yo o'l ~AC Place : New Delhi Oate : 15.05.2024 FLM: MOIL/HO/Fl & AUDIT /2024/73

ST.\TE'.IE''ff OF CASH FLOWS

	51 A LEALEA L'OF CASH FLO $(* in lakhs)$ As at the end of previous As at the end of current reporting Particulars
		year 31st March, 2024		reporting year 31st March, 2023
A	Cash flow from operating activities
	Profit/(Loss) before income tax from
	Continued Operations		38700 15		33163 22
	Discontinued Operations Profit before income tax including discontinued operations		0.00 38700.15		000 33163.22
	Adjustment for -
	(a) Interest on fixed deposits	$-6220.65$		$-4756.71$
	(b) Interest from loan to employees	$-2481$ $-0.02$		$-22.77$ $-0.03$
	(c) Dividend on investment (d) Profit on redemption of mutual fund	$-856.17$		$-938.59$
	(c) Depreciation & Amortisation expense	14424.87		11433.91
	(f) Exceptional items	0.00		281.66
	(g) Deductions from plant, property and equipments	39.95	7363.17	261.78	6259 25
	Operating Profits before working capital changes		46063.32		39422.47
	Adjustments for - (a) (-) Increase/Decrease in Inventories	$-4224.41$		$-701188$
	(b) (-) Increase/Decrease in Trade Receivables	$-660508$		2952 36
	(c) (-) Increase/Decrease in Current Assets	$-770.21$		$-3365.83$
	(d) (-) Increase/Decrease in Non-current Assets	1685.34		$-792.40$
	(e) (-) Increase/Decrease in Loans and advances	$-29.77$ 69.38		602.76 $-2544.53$
	(f) Other comprehensive income Increase/(-) Decrease in Trade & other payables (g)	$-1163.61$		887 74
			$-1103836$		$-9271.78$
	Cash generated from operations		35024.96 $-1064387$		30150.69 $-9071.63$
	Income tax paid (net) Income tax paid for earlier years		954.22		127.64
	Net cash from operating activities		25335.31		21206.70
B	Cash flow from investing activities
	(a) Interest received on fixed deposits (b) Interest from loan to employees	6220.65 24.81		4756.71 22.77
	(c) Dividend on investment	0.02		0.03
	(d) Profit on redemption of mutual fund*	818.70		861.67
	(e) Acquisition of tangible and intangible assets and towards capital work in progress (net of sale proceeds)	$-30575.05$		$-24504.89$
	(f) Change in advance for capital items	$-103364$		$-372.51$
	(g) Proceeds/(lnvestment) in term deposits with more than three months	5500.00		6500 00
	(h) Proceeds/(Investment) in term deposits for 12 months (i) Deposits paid towards LCs and BGs (towards non fund based facilities)	0.00 264785		0.00 $-5499.46$
	Investments (in Joint Venture to be incorporated) (j)	$-1125$		$-117.94$
	$(k)$ Proceeds/(Investment) in liquid mutual fund $*$	228130		818833
	Net cash used in investing activities		$-14126.61$		$-10165.29$
C	Cash flow from financing activities
	(a) Dividend (b) Dividend accounts pending encashment of warrants	$-852604$ 915		$-12209.12$ $-2.08$
	Net cash used in financing activities		$-851689$		$-12211.20$
D	Net increase/(-) decrease in cash and cash equivalents		2691.81		$-1169.79$
E	Opening cash and cash equivalents		1305.04		247483
	Closing cash and cash equivalents		3996.85		1305 04
	Net increase/(-) decrease in cash and cash equivalents		2691.81		$-1169.79$
	The statement of cash flows is prepared using the indirect method, as given in Ind AS 7. * Adjustment of effects of transactions of non-cash nature, any deferrals or accruals have been made wherever necessary
	As per our report of even date Rot and on behalf of the Board of Directors
	For M/s TACS & Co. Chartered Accountants
	NAGPUR Firm's Registration Number : 115064W
	Rakesh Tumane			Neeraj Pandey
Director (Finance) Company Secretary
	DIN: 06639859 M.No F5632 ACSA
	$\mathbf{C}$ $\mathbf{o}$
CA Gaurav B. Sharma Ajit Kumak
Chairman-cum- Managing Director Partner NAGPUR Membership Number: 12112 DIN: 08588419
09434 UDIN: 24121121 BIK
Place : New Delhi
	Date: 15th May 2024 FLM MOIL/HO/FL& AUDIT/2024/73

DECLARATION RELATED TO AUDIT REPORT FOR F.Y. 2023-24

This is declared that the Audit Report pertaining to the Annual Audited Financial Statement/Results of the Company for the year ended 31 st March, 2024 does not have any modified opinion/ qualification/ reservation/ an adverse remark. Hence, statement showing impact for any modified opinion is not applicable on the company.

For MOIL Limited

~<11V- Ajit Kumar Saxena

F----

Chairman-cum-Managing Director

Place : New Delhi Date : 15th May, 2024

Auditors' Report on Annual Standalone Financial Results of MOIL Limited Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

TO THE BOARD OF DIRECTORS OF MOIL LIMITED

• 1. We have audited the accompanying annual Standalone Financial Results of MOIL Limited ("the Company") for the quarter ended 31st March 2024 and the year to date results for the period from April 01 , 2023 to March 31 , 2024, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular no. CIR/CFD/FAC/62/2016 dated 5th July, 2016. These Financial Results have been prepared on the basis of the annual audited financial statements and reviewed quarterly financial results up to the end of last quarter of the financial year which are the responsibility of the Company's management and has been approved by the Board of Directors. Our responsibility is to express an opinion on these Financial Results, based on our audit of such Financial Statements, which have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standards (Ind AS) specified under Section 133 of the Companies Act, 2013 ("the Act") read with relevant rules made there under and other accounting principles generally accepted in India and in compliance with requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• 1. We conducted our audit in accordance with the auditing standards issued by the Institute of Chartered Accountants of India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the Financial Results are free from material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts disclosed in the Financial Results. An audit also includes assessing the accounting principles used and significant estimates made by the management. We believe that our audit provides a reasonable basis for our opinion.

• 1. In our opinion and to the best of our information and according to the explanations given to us, these quarterly financial results as well as the year-to-date resu lts:
• i. are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in this regard; and
• ii. give a true and fair view of the Net Profit, Other Comprehensive Income and other financial information of the Company for the quarter ended March 31 , 2024 as well as the year to date results for the period from 1st April 2023 to 31 st March 2024.
• 1. The standalone financial results include the results for the quarter ended 31 March 2024 being the balancing figure between the audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year of which second and third quarters were subject to limited review by us and the first quarter was reviewed by the preceding statutory auditors of the company.

Date: 15/05/2024 Place: New Delhi

FOR TACS &CO. CHARTERED ACCOUNTANTS ?!Ai/:4~)

CA GAURAV B SHARMA (PARTNER) M. No. 121121 UDIN: 24121121BKGYOU9434