AI assistant
MOIL Limited Annual Report 2026
61480_rns_2026-04-29_90243111-2610-4e38-a714-a78ad3617362.pdf
Annual Report
Open in viewerOpens in your device viewer
मॉयल लिमिटेड
(भारत सरकार का उपक्रम)
मॉयल भवन, 1ए काटोल रोड, नागपुर - 440 013
: 0712-2806100, 2806182/216
ई मेल : [email protected]
वेबसाईट: www.moil.nic.in टेलीफोन: 0712-2591661
सी.आय.एन. नं.: L99999MH1962GOI012398
MOIL LIMITED
(A Government of India Enterprise)
MOIL Bhavan, 1A, Katol Road, Nagpur - 440 013
: 0712-2806100, 2806182/216
E-Mail : [email protected]
Website: www.moil.nic.in Telefax: 0712-2591661
CIN No: L99999MH1962GOI012398
CS/NSE-BSE/2026-27/62
Date: 29.04.2026
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 31/03/2026
Stock NSE: MOIL
Code: BSE: 533286
ISIN: INE490G01020
Dear Sir,
This is further to our letter no. CS/NSE-BSE/2026-27/59 dated 22.04.2026. In this regard, it is to inform that the Board of Directors of the Company in their meeting held today has approved the Audited Financial results of the Company for the quarter and year ended on 31st March, 2026. 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).
Further, no dividend has been recommended by the Board in the said meeting.
Meeting Started: 15:00 hrs.
Meeting Ended: 18:30 hrs.
Yours faithfully,
For MOIL Limited
Neeraj Dutt
Digitally signed
by Neeraj Dutt
Pandey
Date: 2026.04.29
18:53:44 +05'30'
(Neeraj Dutt Pandey)
Company Secretary cum Compliance Officer
Encl.: As above
MOIL LIMITED
CIN: L99999MH1962GOI012398
Statement of audited financial results for the quarter and year ended 31st March, 2026
| Sr. No. | Particulars | For quarter ended | For the financial year ended | For the financial year ended | ||
|---|---|---|---|---|---|---|
| 31.03.2026 Audited | 31.12.2025 Unaudited | 31.03.2025 Audited | 31.03.2026 Audited | 31.03.2025 Audited | ||
| 1 | (a) Revenue from operations | 44449.08 | 34754.32 | 43339.02 | 147283.82 | 158494.09 |
| (b) Other income | 2339.17 | 1690.75 | 2481.48 | 9304.44 | 11137.58 | |
| Total income | 46788.25 | 36445.07 | 45820.50 | 156588.26 | 169631.67 | |
| 2 | Expenses | |||||
| (a) Cost of materials consumed at plants (Net) | 420.81 | 455.82 | 518.14 | 1967.73 | 2502.73 | |
| (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 | 1839.85 | -3212.91 | -1461.35 | -6397.27 | -7272.95 | |
| (d) Employee benefits expense | 13139.63 | 14444.56 | 14953.93 | 55592.83 | 56393.63 | |
| (e) Depreciation and amortisation expense | 4805.47 | 4428.64 | 3907.58 | 16981.06 | 15213.04 | |
| (f) Consumption of stores and spares etc. | 3187.30 | 3297.21 | 3573.45 | 12263.57 | 12578.34 | |
| (g) Other expenses | 11959.95 | 10040.99 | 11805.21 | 42396.33 | 41538.67 | |
| Total expenses | 35353.01 | 29454.31 | 33296.96 | 122804.25 | 120953.46 | |
| 3 | Profit/(loss) before exceptional items and tax | 11435.24 | 6990.76 | 12523.54 | 33784.01 | 48678.21 |
| 4 | Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 5 | Profit/(loss) before tax | [3 - 4] | 11435.24 | 6990.76 | 12523.54 | 33784.01 |
| 6 | Tax expense | |||||
| (a) Current tax | -2218.93 | 2126.63 | 2830.34 | 4147.31 | 12617.97 | |
| (b) Earlier year tax | 18.04 | 0.00 | 0.00 | 18.04 | 1.85 | |
| (c) Deferred tax | 4374.83 | -428.11 | -1871.89 | 2870.69 | -2105.32 | |
| Total tax expense | 2173.94 | 1698.52 | 958.45 | 7036.04 | 10514.50 | |
| 7 | Net profit/(loss) for the period from continuing operation | 9261.30 | 5292.24 | 11565.09 | 26747.97 | 38163.71 |
| 8 | Extraordinary items (Net of tax expense) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 9 | Net profit/(loss) for the period | [7 - 8] | 9261.30 | 5292.24 | 11565.09 | 26747.97 |
| 10 | Other comprehensive income | |||||
| a (i) Items that will not be reclassified to profit or loss | -3679.08 | -333.51 | -8443.15 | -7334.25 | -8440.68 | |
| (ii) Income tax relating to items that will not be reclassified to profit or loss | 853.41 | 162.13 | 2131.30 | 1843.12 | 2128.53 | |
| 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) | -2825.67 | -171.38 | -6311.85 | -5491.13 | -6312.15 | |
| 11 | Total Comprehensive Income for the period | [9 + 10] | 6435.63 | 5120.86 | 5253.24 | 21256.84 |
| 12 | Paid-up equity share capital (Face value of share ¥ 10 each) | 20348.52 | 20348.52 | 20348.52 | 20348.52 | 20348.52 |
| 13 | Other equity excluding revaluation reserve as per balance sheet | 250576.29 | 251323.70 | 243441.32 | 250576.29 | 243441.32 |
| 14 | Earnings per share from continuing operation | |||||
| (a) Basic (¥ 10 each ) | 4.55 | 2.60 | 5.68 | 13.14 | 18.76 | |
| (b) Diluted (¥ 10 each ) | 4.55 | 2.60 | 5.68 | 13.14 | 18.76 |
FLM: MOIL/HO/FI & Audit/2026/85
V Suresh
2
```markdown
MOIL LIMITED
Statement of assets and liabilities
(₹ in Inhbs)
| Sr No | Particulars | As at 31.03.2026 Audited | As at 31.03.2025 Audited |
|---|---|---|---|
| 1 | ASSETS | ||
| Non-current assets | |||
| (a) Property, Plant and Equipment | 95369.09 | 85213.92 | |
| (b) Capital work-in-progress | 48347.17 | 46538.99 | |
| (c) Investment Property | 0.00 | 0.00 | |
| (d) Other Intangible assets | 9733.05 | 6756.11 | |
| (e) Intangible assets under development | 1890.96 | 4183.26 | |
| (f) Financial Assets | |||
| (i) Investments | 766.28 | 766.56 | |
| (ii) Trade receivables | 0.00 | 0.00 | |
| (iii) Loans | 157.48 | 170.05 | |
| (iv) Others | 5154.24 | 4074.41 | |
| (g) Deferred tax assets (Net) | 2121.74 | 4992.43 | |
| (h) Other non-current assets | 17070.81 | 11510.77 | |
| Sub-total - Non-current assets (1) | 180610.82 | 164206.50 | |
| 2 | Current assets | ||
| (a) Inventories | 36329.43 | 28849.68 | |
| (b) Financial Assets | |||
| (i) Investments | 1614.12 | 6991.69 | |
| (ii) Trade receivables | 14040.50 | 14555.21 | |
| (iii) Cash and cash equivalents | 512.43 | 281.04 | |
| (iv) Bank balances other than (iii) above | 70548.20 | 89718.69 | |
| (v) Loans | 324.47 | 363.33 | |
| (vi) Others | 2956.16 | 4303.77 | |
| (c) Current tax assets (Net) | 6367.05 | 3999.01 | |
| (d) Other current assets | 6985.81 | 7656.93 | |
| Assets held for sale | 278.40 | 209.57 | |
| Sub-total - Current assets (2) | 139956.57 | 156928.92 | |
| TOTAL - ASSETS (1+2) | 320567.39 | 321135.42 | |
| 1 | EQUITY AND LIABILITIES | ||
| Equity | |||
| (a) Equity Share capital | 20348.52 | 20348.52 | |
| (b) Other Equity | 250576.29 | 243441.32 | |
| Sub-total - Equity (1) | 270924.81 | 263789.84 | |
| 2 | Liabilities | ||
| 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 ) | 1844.44 | 3194.70 | |
| (b) Provisions | 1582.75 | 13138.33 | |
| (c) Other non-current liabilities | 0.00 | 0.00 | |
| Sub-total - Non-current liabilities (2) | 3427.19 | 16333.03 | |
| 3 | Current liabilities | ||
| (a) Financial Liabilities | |||
| (i) Borrowings | 0.00 | 0.00 | |
| (ii) Trade payables | 4576.72 | 4605.11 | |
| (iii) Other financial liabilities | 26677.46 | 22224.85 | |
| (b) Other current liabilities | 7325.31 | 6242.11 | |
| (c) Provisions | 7635.90 | 7940.48 | |
| (d) Current Tax Liabilities (Net) | 0.00 | 0.00 | |
| Sub-total - Current liabilities (3) | 46215.39 | 41012.55 | |
| TOTAL - EQUITY AND LIABILITIES (1+2+3) | 320567.39 | 321135.42 |
FLM: MOIL/HO/Fl & Audit/2026/85
V. Swesh
MOIL LIMITED
Segment-wise revenue, audited financial results for the quarter and year ended 31st March, 2026 and assets and liabilities as on that date.
(€ in Ialdos)
| Sr. No. | Particulars | For quarter ended | For the financial year ended 31.03.2026 Audited | For the financial year ended 31.03.2025 Audited | ||
|---|---|---|---|---|---|---|
| 31.03.2026 Audited | 31.12.2025 Unaudited | 31.03.2025 Audited | ||||
| 1 | Segment revenue | |||||
| (a) Mining products | 43117.38 | 32896.58 | 40180.95 | 139629.15 | 147864.42 | |
| (b) Manufactured products | 1741.17 | 2356.72 | 3600.91 | 9131.87 | 12389.14 | |
| (c) Power | 416.95 | 471.99 | 471.50 | 2051.44 | 1902.96 | |
| Sub-total | 45275.50 | 35725.29 | 44253.36 | 150812.46 | 162156.52 | |
| (-) Inter-segment revenue | 826.42 | 970.97 | 914.34 | 3528.64 | 3662.43 | |
| Sales/income from operations | 44449.08 | 34754.32 | 43339.02 | 147283.82 | 158494.09 | |
| 2 | Segment results [Profit/(-)loss before exceptional items, tax and interest] | |||||
| (a) Mining products | 8678.04 | 4723.54 | 8986.03 | 21757.50 | 34576.42 | |
| (b) Manufactured products | 259.08 | 363.82 | 909.71 | 1694.80 | 2118.26 | |
| (c) Power | 158.95 | 212.65 | 146.32 | 1027.27 | 845.95 | |
| Sub-total | 9096.07 | 5300.01 | 10042.06 | 24479.57 | 37540.63 | |
| (+) Other unallocable income (net of unallocable expenditure) | 2339.17 | 1690.75 | 2481.48 | 9304.44 | 11137.58 | |
| Profit from ordinary activities before exceptional items and tax | 11435.24 | 6990.76 | 12523.54 | 33784.01 | 48678.21 | |
| 3 | Segment assets | |||||
| (a) Mining products | 200275.75 | 194665.41 | 183205.97 | 200275.75 | 183205.97 | |
| (b) Manufactured products | 8577.59 | 7356.88 | 6413.76 | 8577.59 | 6413.76 | |
| (c) Power | 8830.91 | 5648.74 | 6166.19 | 8830.91 | 6166.19 | |
| (d) Unallocated | 102883.14 | 122506.41 | 125349.50 | 102883.14 | 125349.50 | |
| Total | 320567.39 | 330177.44 | 321135.42 | 320567.39 | 321135.42 | |
| 4 | Segment liabilities | |||||
| (a) Mining products | 38753.07 | 49108.30 | 42347.75 | 38753.07 | 42347.75 | |
| (b) Manufactured products | 1009.80 | 1208.60 | 1201.96 | 1009.80 | 1201.96 | |
| (c) Power | 3200.61 | 965.50 | 944.95 | 3200.61 | 944.95 | |
| (d) Unallocated | 6679.10 | 7222.82 | 12850.92 | 6679.10 | 12850.92 | |
| Total | 49642.58 | 58505.22 | 57345.58 | 49642.58 | 57345.58 |
Notes:
(1) The above results, reviewed by the Audit Committee, have been approved by the Board of Directors in its meeting held on 29th April, 2026 and have been reviewed 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 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.
(2) Information about investor complaints for the quarter: Opening -1, received during the quarter-3, resolved during the quarter -3, and pending as on 31.03.2026 - 1.
(3) MOIL has no subsidiary/associate/joint venture company as on 31st March,2026.
(4) Previous period's figures have been regrouped/reclassified, wherever necessary to make them comparable. The figures for the quarter ended 31st March,2026 /2025 are balancing figures between the audited figures of full year and reviewed figures upto 31st December,2025/2024.
As per our report of even date
For M/s TACS & Co.,
Chartered Accountants
Firm's Registration Number : 115064W
CA Mumtaz Abid Ali
Partner
Membership Number: 042696
UDIN: 260426960KLRGH3522
Place: Nagpur
Date: 29th April,2026
For MOIL Limited,
Vishwanath Suresh
Chairman-cum-Managing Director
DIN: 10059734
FLM: MOIL/MI/PI & Audit/2026/05
MOIL LIMITED
STATEMENT OF CASH FLOWS
4
₹ in lakhs
| A | Particulars | For the year ended
31st March,2026 | For the year ended
31st March,2025 |
| --- | --- | --- | --- |
| | Cash flow from operating activities
Profit/(Loss) before income tax from
Continued Operations
Discontinued Operations
Profit before income tax including discontinued operations
Adjustment for -
(a) Interest on fixed deposits
(b) Interest from loan to employees
(c) Profit on redemption of mutual fund
(d) Depreciation & Amortisation expense
(e) Deductions from plant, property and equipment
Operating Profits before working capital changes
Adjustments for -
(a) (-) Increase/Decrease in Inventories
(b) (-) Increase/Decrease in Trade Receivables
(c) (-) Increase/Decrease in Current Assets
(d) (-) Increase/Decrease in Non-current Assets
(e) (-) Increase/Decrease in Loans and advances
(f) Other comprehensive income
- (g) Increase/(-) Decrease in Trade & other payables
Cash generated from operations
Income tax paid (net)
Income tax paid for earlier years
Net cash from operating activities
B | 33784.01
0.00
33784.01
-6115.81
-29.69
-513.00
16981.06
2.83
10325.37
44109.38
-7479.75
514.71
-349.31
-3761.18
51.43
-5491.13
-7703.00
-24218.23
19891.15
-4147.31
-18.04
15725.80
-29700.72
-2878.69
17700.00
1446.16
0.28
5359.17
-1396.87 | 48678.21
0.00
48678.21
-7094.21
-29.08
-936.62
15213.04
39.46
7192.57
55870.78
-7601.65
6383.87
-3295.29
-2770.84
3.84
-6328.74
13787.18
178.37
56049.15
-12617.97
-1.85
43429.33
7094.21
29.08
988.06
-29689.32
-2505.61
-15200.00
483.34
0.00
5011.94
-33788.28 |
| B | Cash flow from investing activities
(a) Interest received on fixed deposits
(b) Interest from loan to employees
(c) Profit on redemption of mutual fund *
(d) Acquisition of tangible and intangible assets and towards capital work in progress
(e) Change in advance for purchase of capital items
(f) Proceeds/ (Investment) in term deposits with more than three months
(g) Deposits paid towards LCs and BGs (towards non fund based facilities)
(h) Investments (in Joint Venture to be incorporated)
(i) Proceeds/ (Investment) in liquid mutual fund *
Net cash used in investing activities | 6115.81
29.69
531.41
-29700.72
-2878.69
17700.00
1446.16
0.28
5359.17
-1396.87 | 7094.21
29.08
988.06
-29689.32
-2505.61
-15200.00
483.34
0.00
5011.94
-33788.28 |
| C | Cash flow from financing activities
(a) Dividend
(b) Dividend accounts pending encashment of warrants
Net cash used in financing activities | -14121.87
24.33
-14097.54 | -13368.98
12.12
-13356.86 |
| D | Net increase/(-) decrease in cash and cash equivalents | 231.39 | -3715.81 |
| E | Opening cash and cash equivalents
Closing cash and cash equivalents
Balance in Current accounts
Balance of cash in hand
Net increase/(-) decrease in cash and cash equivalents | 281.04
512.18
0.25
231.39 | 3996.85
280.54
0.50
-3715.81 |
The statement of cash flows is prepared using the indirect method, as given in Ind AS 7.
Bank balances includes bank deposit ₹ 2000.00 lakhs (₹ 1800.00 lakhs) earmarked For Mine Closure expenditure.
* 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
For M/s TACS & Co.
Chartered Accountants
Firm's Registration Number: 115064W
For and on behalf of the Board of Directors
Vishwanath Suresh
Chairman-cum- Managing Director
DIN: 10059734
FLM:MOIL/003/FL & Audit/2026/05
CA
TACS & Co. Chartered Accountants
INDEPENDENT AUDITOR'S REPORT
TO THE BOARD OF DIRECTORS OF MOIL LIMITED
Report on the audit of the Standalone Financial Results
Opinion
We have audited the accompanying Standalone Financial Results of MOIL Limited (the Company) for the quarter ended 31st March 2026 and the year to date results for the period from 1st April 2025 to 31st March 2026 attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").
In our opinion and to the best of our information and according to the explanations given to us these standalone financial results:
i. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
ii. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Accounting Standards and other accounting principles generally accepted in India of the net profit and other comprehensive income and other financial information for the quarter ended 31st March 2026 as well as the year to date results for the period from 1st April 2025 to 31st March 2026.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013 (the Act). Our responsibilities under those Standards are further described in the 'Auditor's Responsibilities for the Audit of the Standalone Financial Results' section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial results under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Other Matter
Without qualifying our opinion, we draw attention to the following matters:
- The revenue includes Royalty, District Mineral Fund (DMF) and National Minerals Exploration Trust contribution (NMET) collected on behalf of third party on actual basis as per contract. However, this treatment is not in line with IND AS 115, which stipulates that revenue must be shown on net basis excluding all collection on behalf of third parties. This has been done by the Company as per industry practice and based on expert opinion obtained.
HO : A-1, Indraneel Apartments, Opp. Collector's Office, Civil Lines, Nagpur (M.S) - 440 001. Tel. - 0712 - 2567193 / +91 9970058079, E-mail - [email protected], Website - www.tacs.co.in
-
Classification of expenditure of capital nature for exploration (MOIL Share) for proposed Joint Venture with GMDC, amounting to ₹765.28 Lakhs. This is disclosed under Investments in the name and style of "MOIL-GMDC JV, yet to be incorporated". This amount should have been classified under Other Non-Current Assets.
-
Classification of expenditure of capital nature for exploration for a proposed Joint Venture with MPSMCL. This expenditure amounting to ₹1694.75 Lakhs is being recognized and accounted for as Intangible asset under development in the financial statements. This MoU has been signed to explore the options of manganese ore mining in different districts of the state of Madhya Pradesh. This amount should have been classified under Other Non-Current Assets.
-
Classification of expenditure of capital nature for exploration for proposed Joint Venture with Chhattisgarh Mineral Development Corporation (CMDC). This expenditure amounting to ₹115.76 Lakhs is being recognized and accounted for as Intangible assets under development in the financial statements. This MoU has been signed to explore the options of mining for manganese and associated minerals in different districts of the state of Chhattisgarh. This amount should have been classified under Other Non-Current Assets.
-
The land at Bobbili was purchased by MOIL from APIIC for the setting up of Ferro / Silico Manganese plant. A Joint Venture Company was formed with RINL. Techno economic feasibility report (TEFR) was prepared by MECON in 2000. The tenders could not be finalized due to technical reasons and in the interim period the tariff of electricity units was increased. It was determined that the project was not viable in view of the power tariff increase and the reduction in market prices of the Ferro / Silico Manganese. The land at Bobbili, which is valued at Rs 898.92 lakhs and WDV of Building Rs 8.03 lakhs has been considered as contingent liability by the Company. This amount should not be treated as a contingent liability as there is no expected financial outlay against the same. The land is fully paid for, and the Company does not have any further liabilities against the same.
-
A penalty was imposed by the Collector, Balaghat amounting to Rs. 1,677.09 lakhs, along with an additional demand of Rs. 54.54 lakhs towards economic benefits, in respect of environmental clearance (EC) capacity expansion violations at Tirodi Mine as per order dated 30/01/2025. The Company has disclosed the entire demand of Rs. 1,731.63 lakhs as a contingent liability. Pursuant to an interim order of the Supreme Court of India, the matter was stayed, which was subsequently recalled on 18th November 2025.
In our view, upon recall of the stay, the obligation towards the penalty stands reinstated. Considering that the Company has suo-moto accepted the violation and assessed the minimum payable amount at Rs. 465.06 lakhs, a provision of Rs. 519.60 lakhs (including Rs. 54.54 lakhs towards economic benefits) is required to be recognised in accordance with the applicable Accounting Standards, with the balance amount of Rs. 1,212.03 lakhs to be disclosed as a contingent liability.
A complaint has been filed against the Company for exceeding Environmental Clearance limits at Tirodi Mines during 2006–09. The potential penalty is not quantifiable, and no provision or disclosure has been made in the financial statements.
A significant portion of Low-Grade inventory (LGHS) of the opening stock, remains unsold during the year. The determination of NRV for such inventories involves management judgement, particularly in respect of future saleability, pricing and utilisation of such stock. Accordingly, we find that the valuation of such inventory is
NAGYAR
dependent upon the outcomes of these assessments.
-
The Company has not carried out an assessment of the potential financial and operational impact arising from the implementation of the new Labour Codes effective from 21st November 2025. Consequently, no provision or liability has been recognised in the financial statements in respect of any obligations that may arise upon their applicability. Further, no disclosures have been made in the financial statements regarding the possible impact, status of implementation, or the expected implications of the new Labour Codes on the Company's operations, employee benefits, and related costs. In the opinion of management, the impact will not be material.
-
Pursuant to the completion of tenure of the Independent Directors on the Board of the Company, the Company's Board does not have the requisite number of Independent Directors, as required by the provision of SEBI Listing Regulations, Companies Act 2013 and Department of Public Enterprise Guidelines, so as to comply with the quorum as required under Regulation for Audit Committee Meeting under SEBI (LODR) Regulations.
The Standalone Financial Results for Financial Year ended on 31st March 2026 have therefore been approved by the Board of Directors of the company on the recommendation of the Audit Committee of the company being constituted without having requisite number of independent directors as required in terms of the Companies Act 2013 and SEBI Regulation.
Our opinion is not modified in respect of the above matters.
Responsibilities of Management and those charged with Governance for the Standalone Financial Results
These quarterly Financial Results as well as the year to date Standalone Financial Results have been prepared on the basis of the interim financial statements. The Company's Board of Directors are responsible for the preparation of these financial results that give a true and fair view of the net profit for the year ended 31st March 2026 and other comprehensive income and other financial information of the Company in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, 'Interim Financial Reporting' prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Standalone Financial Results that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the standalone financial results, the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors are also responsible for overseeing the Company's financial reporting process.
Auditor's Responsibilities for the Audit of the Standalone Financial Results
Our objectives are to obtain reasonable assurance about whether the standalone financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
a. Identify and assess the risks of material misstatement of the standalone financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
b. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(1) of the Act, we are also responsible for expressing an opinion whether the Company has adequate financial controls with respect to Standalone Financial Statements in place and the operating effectiveness of such controls but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.
c. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
d. Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
e. Evaluate the overall presentation, structure and content of the Standalone Financial Results, including the disclosures, and whether the Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
Date: 29-04-2026
Place: Nagpur
FOR TACS &CO.
CHARTERED ACCOUNTANTS
(FRN 115064W)
CA MUMTAZ ABID ALI
(PARTNER)
M. No. 042696
UDIN: 26042696OKLRGH2522
MOIL LIMITED
(A Government of India Enterprise)
Regd. Off.: MOIL Bhawan, 1A Katol Road, NAGPUR – 440 013
Website: www.moil.nic.in, E-Mail ID: [email protected], Ph.: 0712-2806182, Fax: 0712-2591661, CIN: I.99999MH1962GOI012398
DECLARATION RELATED TO AUDIT REPORT FOR F.Y. 2025-26
This is declared that the Audit Report pertaining to the Annual Audited Financial Statement/Results of the Company for the year ended 31st March, 2026 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
V. Swarth
Vishwanath Suresh
Chairman-cum-Managing Director
Place : Nagpur
Date : 29th April, 2026
