CARE assigns CARE IPO GRADE 5 to IPO of MOIL
The assigned grading reflects MOIL’s dominant position in the Indian manganese ore industry with over four decades of experience in manganese mining and its significant reserves of measured mineral resources of manganese ore
CARE assigns ‘CARE IPO GRADE 5’ grading to the IPO of MOIL Limited. The assigned grading reflects MOIL’s dominant position in the Indian manganese ore industry with over four decades of experience in manganese mining and its significant reserves of measured mineral resources of manganese ore. MOIL is currently a market leader in domestic manganese ore market commanding around 50% of the domestic market share.
MOIL’s strong parentage, with a ‘mini-ratna’ public sector company status which provides it with functional autonomy, the company’s healthy operational performance backed by high profit margins, a strong financial position with cash balances of about Rs. 1,500 crore, and a zero debt status are factors which add further strength to the grading. The company’s current operational and financial position provides MOIL with flexibility to fund its on-going and planned expansion projects.
Source:- India Infoline
