MOIL Limited — Interim / Quarterly Report 2024

Oct 25, 2024

EkkW;y fyfeVsM (Hkkjr ljdkj dk midze) EkkW;y Hkou, 1, dkVksy jksM, ukxiqj - 440 013 ☎ : 0712-2806100, 2806182 /216 bZ esy : compliance@moil.nic.in osclkbZV: www.moil.nic.in VsyhQsDl: 0712-2591661 lh.vk;.,u ua.: L99999MH1962GOI012398

MOIL LIMITED

(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/2024-25/224 Date: 25.10.2024

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 : Unaudited Financial Results for the quarter ended on 30/09/2024. Stock Code: NSE: MOIL BSE: 533286 ISIN: INE490G01020

Dear Sir,

This is further to our letter no. CS/NSE-BSE/2024-25/215 dated 17.10.2024. In this regard, it is to inform that the Board of Directors of the Company in their meeting held today has:

1. Approved the Un-Audited Financial Results of the Company for the quarter ended on 30 th September, 2024. We are attaching herewith a copy of the approved results along with the Limited Review Report of the Auditors.

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

Meeting Started: 11:00 hrs. Meeting Ended: 14:55 hrs.

Yours faithfully,

For MOIL Limited (Neeraj Dutt Pandey) Company Secretary cum Compliance Officer Encl.: As above Neeraj Dutt Pandey Digitally signed by Neeraj Dutt Pandey Date: 2024.10.25 15:00:48 +05'30'

MOIL LIMITED 1

CIN , L99999ME1962GOI012398

Statement ofun-audited financial results for the quarter and half year ended 30th September, 2024

							(~ in lakhs)
Sr.	Particulars		For quarter ended		For the half year ended		Forthe
No.							financial
							year ended
		30.09.2024 30.06.2024		30.09.2023		30.09.2024 30.09.2023	31.03.2024
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1	(a) Revenue from operations	29189.29	49284.17	34 752.97	78473.46	72724.27	144942.45
	(b) Other income	2678.69	2707.24	2047.93	5385.93	4613.48	9353.51
	Total income	31867.98	51991.41	36800.90	83859.39	77337.75	154295.96
	2 Expenses
	(a) Cost of materials consumed at plants	674.35	763.44	659.21	1437.79	1123.59	2387.93
	(b) Purchase of stock-in-trade (c) Changes in inventories of finished goods, stock in trade and work-in-process	0.00 -4630.47	0.00 -1073.92	0.00 -992.48	0.00 -5704.39	0.00 -366.46	0.00 -4465.93
	(d) Employee benefits expense	13657.35	14169.60	13401.85	27826.95	26529.15	55511.10
	(e) Depreciation and amortisation expense	3781.41	3643.21	3522.37	7424.62	6847.66	14424.86
	(f) Consumption of stores and spares etc.	2514.07	3321.97	2579.14	5836.04	5562.87	11716.69
	(g) Other expenses	9055.74	10732.90	94 73.33	19788.64	17872.14	36021.16
	Total expenses	25052.45	31557.20	28643.42	56609.65	57568.95	115595.81
	3 Profit/ (loss) before exceptional items and tax (1- 2]	6815.53	20434.21	8157.48	27249.74	19768.80	38700.15
	4 Exceptional items	0.00	0.00	0.00	0.00	0.00	0.00
	5 Profit/ (loss) before tax (3 - 4]	6815.53	20434.21	8157.48	27249.74	19768.80	38700.15
	6 Tax expense
	(a) Current tax	1920.05	5424.54	2312.35	7344.59	5511.13	10643.87
	(b) Earlier year tax	0.00	0.00	0.00	0.00	0.00	-954.22
	(c) Deferred tax	-100.44	-225.42	-306.83	-325.86	-551.75	-323.57
	Total tax expense	1819.61	5199.12	2005.52	7018.73	4959.38	9366.08
	7 Net profit/ (loss) for the period from continuing operation (5 - 6]	4995.92	15235.09	6151.96	20231.01	14809.42	29334.07
	8 Extraordinary items (Net of tax expense)	0.00	0.00	0.00	0.00	0.00	0.00
	9 Net profit/ (loss) for the period (7 - 8]	4995.92	15235.09	6151.96	20231.01	14809.42	29334.07
	10 Other comprehensive income
	a (i) Items that will not be reclassified to profit or loss	1.42	0.56	-891.31	1.98	-1783.29	85.89
	(ii) Income tax relating to items that will not be reclassified to profit or loss	-1.84	-0.92	224.64	-2.76	449.29	-18.39
	b (i) Items that will be reclassified to profit or loss	0.00	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	0.00
	Other comprehensive income for the period ( net of tax) 11 Total Comprehensive Income for the period	-0.42 4995.50	-0.36 15234.73	-666.67	-0.78	-1334.00	67,50
	(9 + 10]			5485.29	20230.23	13475.42	29401.57
	12 Paid-up equity share capital (Face value of share f 10 each)	20348.52	20348.52	20348.52	20348.52	20348.52	20348.52
	13 Other equity excluding reva luation reserve as per balance sheet	240000.10	240193.4 7	216154.59	240000.10	216154.59	224958.74
	14 Earnings per share from continuing operation
	(a) Basic(~ IO each) (b) Diluted (t IO each)	2.46	7.49	3.02	9.94	7.28	14.42
		2.46	7.49	3.02	9.94	7.28	14.42
	FLM: MOIL/ HO/FI & AUDIT /2024/147

MOIL LIMITED 2

Statement of assets and liabilities

		(~ in lakhs)
Sr	Particulars		As at	As at
No			30.09.2024	31.03.2024
			Unaudited	Audited
	1 ASSETS
	Non-current assets
	(a) Pro perty, Plant and Equipment		82450.11	86660.50
	(bl Capital work-in-progress		37581.04	33185.34
	(c) Investment Property		0.00	0.00
	(d) Other Intangible assets		6364.26 2145.48	5937.51 2547.39
	(e) Intangible assets under development (I) Financial Assets
	(i) Investments		766.56	766.56
	(ii) Trade rece ivables		0.00	0.00
	(iii) Loans		130.36	172.95
	(iv) Others		178.88	179.60
	(g) Deferred tax assets (Net)		3212.97	2887.11
	(h) Other non-current assets		12609.72	10129.13
		Sub-total - Non-current assets (1)	145439.38	142466.09
	2 Current assets (a) Inventories		26884.89	21248.03
	(bl Financial Assets
	Investments (i)		8461.44	12055.07
	(ii) Trade receivables		17644.48	20939.08
	(iii) Cash and cash equivalents		316.61	3996.85
	(iv) Bank balances other than (iii) above		100417.67	75014.15
	(v) Loans (vi) Others		536.37 1709.04	364.27 3487.85
	(c) Current tax assets (Net)		1030.46	1124.62
	(d) Other current assets		8485.49	8051.95
	Assets held for sale		134.29	134.29
		Sub-total - Current assets (2)	16 5620.74	146416.16
	EQUITY AND LIABILITIES	TOTAL-ASSETS (1+2)	311060.12	288882.25
	1 Equity (a) Equity Share capital		20348.52	20348.52
	(b) Other Equity		240000.10	224958.74
		Sub-total - Equity (1)	260348.6 2	245307.26
	Liabilities
	2 Non-current liabilities
	(a) Financial Liabilities (i) Borrowings		0.00	0.00
	(ii) Trade payables		0.00	0.00
	(iii) Other fi nancial liabilities (other than those specified)		193.88	120.63
	(b) Provisions		8469.57	7847.85
	(c) Other non-current liabilities	Sub-total - Non-current liabilities (2)	0.00	0.00
	3 Current liabilities		8663.4 5	7968.48
	(a) Financia l Liabilities
	(i) Borrowings		0.00	0.00
	(ii) Trade payables		4448.19	3810.83
	(iii) Other financial liabilities		24501.10	22894.70
	(b) Other current liabiliti es (c) Provisions		7382.33 5716.43	4635.93 4265.05
	(d) Current Tax Liabilities (Net)		0.00	0.00
		Sub-total - Current liabilities (3)	42048.0 5	35606.51
	I	TOTAL - EQUITY AND LIABILITIES (1+2:lu.L.	311060.12	288882.25
	FLM: MOIL/ HO/ Fl &AUDIT/ 2024/ 147 I	f ~ . Li l.i'"

MOIL LIMITED 3

Segment-wise revenue, results for the quarter and half year ended 30th September, 2024and assets and liabilities as on that date.

Sr. No.	Particulars	For quarter ended			For the half year ended		(~ in lakhs) Forthe financial year ended
		30.09.2024 Unaudited	Unaudited	30.06.2024 30.09.2023 Unaudited	30.09.2024 30.09.2023 Unaudited	Unaudited	31.03.2024 Audited
	1 Segment revenue
	(a) Mining products	27179.21	47633.32	33215.69	74812.53	69767.65	137710.55
	(b) Manufactured products	2446.29	1965.94	1842.44	4412.23	3295.03	8297.09
	(c) Power	554.31	647.54	737.13	1201.85	1329.24	2245.25
	Sub-total	30179.81	50246.80	35795.26	80426.61	74391.92	148252.89
	(·) Inter-segment revenue	990.52	962.63	1042.29	1953.15	1667.65	3310.44
	Sales/income from operations	29189.29	49284.17	34752.97	78473.46	72724.27	144942.45
	2 Segment results [Profit/(-)loss before exceptional items, tax and interest]
	(a) Mining products	3587.29	17085.34	5319.96	20672.63	13441.30	27000.22
	(b) Manufactured products	183.33	210.18	288.18	393.51	802.88	1089.75
	(c) Power	366.22	431.45	501.41	797.67	911.14	1256.67
	Sub-total	4136.84	17726.97	6109.55	21863.81	15155.32	29346.64
	( +) Other unallocable income (net of unallocable expenditure)	2678.69	2707.24	2047.93	5385.93	4613.48	9353.51
	Profit from ordinary activities before exceptional items and tax	6815.53	20434.21	8157.48	27249.74	19768.80	38700.15
	3 Segment assets
	(a) Mining products	166891.93	172133.81	137403.65	166891.93	137403.65	164589.39
	(b) Manufactured products	7388.24	6937.03	6786.33	7388.24	6786.33	6712.36
	(c) Power	6512.00	6688.96	7192.34	6512.00	7192.34	6808.41
	(d) Unallocated	130267.95	119251.35	126306.34	130267.95	126306.34	110772.09
	Total	311060.12	305011.15	277688.66	311060.12	277688.66	288882.25
	4 Segment liabilities
	(a) Mining products	29256.30	22790.11	18635.99	29256.30	18635.99	22262.51
	(b) Manufactured products	1170.88	1111.83	865.37	1170.88	865.37	793.28
	(c) Power	617.45	849.63	824.99	617.45	824.99	850.99
	(d) Unallocated	19666.87	19717.59	20859.20	19666.87	20859.20	19668.21
	Total	50711.50	44469.16	41185.55	50711.50	41185.55	43574.99
	Notes :

(I) The above results, reviewed by the Audit Committee, have been approved by the Board of Directors in its meeting held on 25~' October, 2024 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) Inrom1ation about investor complaints for the quarter: Opening - Nil, received during the quarter- 2, resolved during the quarter -2 and pending as at 30.09.2024 - Nil.

(3) Previous period's figures have been regrouped/reclassified, wherever necessary to make them comparable. The figures for the quarter ended 30th September,2024/2023 are balancing figures between the unaudited figures ofhalfyear and reviewed figures upto 30th June,2024/2023 .

As per our report of even date

Chartered Accountants Firm's Registration Number: l 15064\V

CA Chithra Ranjith ~ ~ - Partner ~ ~' ' Chairman-cum-Managing Director Membership Number: 104145 ~AC · DIN : ^08588419 L'DIS: i4 \ ei 4 -'\ s- ^~,-<. 6 M N ~63

Place : New Delhi Date : 25 th October.2024

FLM: MOIL/HO/FI & AUDIT/2024/ 147

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Ajit ^~ o)-iJ.-- ( ~ * * 1\ NAGPUR Jr'

MOlL LIMITED

STATEMENT OF CASH FLOWS				{'{in lakhs)
Particulars	half year 30th September,2024		As at the end of current reporting As at the end of previous reporting half year 30th September,2023
A Cash flow from operating activities
Profit/(Loss) before income tax from
Continued Operations		27249.74		19768.80
Discontinued Operations		0.00		0.00
Profit before income tax including discontinued operations		27249.74		19768.80
Adjustment for -
(a) Interest on fi xed deposits	-3345.49		-3 107.35
(b) Interest from loan to employees	-14. 10		-13.60
(c) Profit on redemption of mutual fund	-606.38		-5 15.07
(d) Depreciation & Amonisation expense	7424.63		6847.66
(e) Deductions from plant, propeny and equipment	7.96		078
		3466.62		3212.42
Operating Profits before working capital changes		30716.36		22981.22
Ad justments for -
(a) {-) Increase/Decrease in Inventories	-5636.86		-182.00
(b) (-) Increase/Decrease in Trade Receivables	3294.60		-2329.8 1
(c) (-) Increase/Decrease in Current Assets (d) (-) Increase/Decrease in Non-current Assets	1439.43 -828. 10		2988.30 -1932.32
(e) (-) Increase/Decrease in Loans and advances	-129.51		-4726.22
(f) Other comprehensive income	I.J O		-1332. 12
(g) Increase/(-) Decrease in Trade & other payables	7134.63		-3553.05
		5275.29		-11 067.22
Cash generated from operations		35991.65		11914.00
Income tax pa id (net)		-7344.59		-55 11.13
Income tax paid for earli er years		0.00		0.00
Net cash from operating activities		28647.06		6402.87
B Cash flow from investing activities
(a) Interest received on fixed deposits	3345.49		3107.35
(b) Interest from loan to employees	14.10		13.60
(c) Profit on redemption of mutual fund•	633.57		451 .05
(d) Acquisition of tangible and intangible assets and towa rds capital work in
progress (net of sale proceeds)	-7642.73		-7060.21
(e) Change in advance for purchase of capital items	-1 65 1.77		0 00
(I) Proceeds/ (Investment) in term deposits with more than three months	-20200.00		-4500.00
(g ) Deposits paid towards LCs and BGs (towards non fund based facilities)	-16.66		-95.13
(h) In vestments ( in Joint Venture to be incorporated)	0.00		-329.9 1
(i) Proceeds/ (I nvestment) in liquid mutual fund •	3566.44		4698.95
Net cash used in investing activities		-21951.56		-3714.30
C Cash flow from financing activities
(a) Di vidend	-51 88.87		-1404.04
(b) Dividend accounts pending encashment of warrants	-5 I 86.86		-140 1.85
Net cash used in financing activities		-10375.73		-2805.89
D Net increase/(-) decrease in cash and cash equivalents		-3680.23		-11 7.32
E Opening cash and cash equiva lents		3996.85		1305.04
Closing cash and cash equivalents		316.6 1		11 87.72
Net increase/(-) decrease in cash and cash equivalents		-3680.24		-117.32
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
For Mis TACS & Co.	For and on behalrofthe Board of Directors
Chartered Accountants
Firm's Registration Number: 115064W
CA Chithra Ranjith	AjitKu
Partner	Chairman-cum- Managing Director
ol \'=:, N ""i,-,1::. i:mN ~ Membership Number: 104145 , e 4 , A ~ G "- -	DIN : 08588419
Place: New Delhi
Date: 25 th October,2024
FLM, MOIL/ HO/ Fl &AUDIT/ 2024/ 147

Independent Auditor's Review Report on the Unaudited Standalone Financial Results

To, The Board of Directors MOIL Limited Nagpur

• 1. We have reviewed the accompanying Statement of unaudited standa lone financial results of MOIL Limited ("the Company") for the quarter and half year ended 30th September 2024 ("the Statement"), attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of SEBI (Listing Obligations & Disclosures Requirements) Regulations, 2015, as amended ("the Regulation").
• 1. The preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (I nd AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant Rules issued thereunder and other accounting principles generally accepted in India, is the responsibility of the Company's Management and has been approved by the Board of Directors of the Company. Our responsibility is to issue a report on these financial statements based on our review
• 1. We conducted our review in accordance with the Standard on Review Engagement (SRE) 241 O, " Review of Interim Financial Information Performed by the Independent Auditor of Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primaril y to inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it conta ins any material misstatement.

Other Matter:

Without qualifying our opinion, we draw attention to the following matters:

1. In the Statement of unaudited financial results for the quarter and half year ended 30- 09-2024, recognition of revenue has been done by including 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.

1. In the Statement of Assets and Liabilities for the quarter and half year ended 30-09- 2024, the classification of Expenditure (MOIL Share) for proposed Joint Venture with Gujarat Mineral Development Corporation (Rs. 765.27 Lacs) has been disclosed under Non-Current Assets as Other Investments and Expenditure towards proposed Joint Venture with Government of Madhya Pradesh and Madhya Pradesh State Mining Corporation Ltd. (Rs. 1597.99 Lacs) and Chhattisgarh Mineral Development Corporation (Rs. 54.69 Lacs) have been disclosed as Capital Work in Progress - Exploration. All these Expenditures towards proposed Joint Venture should have been classified and disclosed as Other Non - Current Assets.

Our opinion is not modified in respect of the above matters.

For, TAGS & Co. Chartered Accountants FRN - 115064W

CA~(__

CA Chithra Ranjith (Partner) M. No. 104145 UDIN -24104145BKEMNl1463

Date: 25-10-2024 Place: New Delhi

HO : A-1, lndraneel Apartments, Opp. Collector's Office, Civil Lines, Nagpur (M.S) - 440 001. Tel. - 0712 - 2567193 / +91 9970058079, E-mail - tacs.ca@gmail.com, Website - www.tacs.co.in