STEEL MINISTER REVIEWS PERFORMANCE
OF MOIL
Manganese Ore
(India) Ltd. (MOIL), a public sector undertaking of the Steel
Ministry has crossed its target by 9 per cent by achieving a net
profit of Rs. 11.73 crore and total sales of Rs. 123.5 crore during
April-December, 2002. The gross margin of Rs. 23.36 crore during
this period was 4.3 per cent higher than the target and 1.8 per
cent higher than the gross margin of the same period last year.
This information was given to the Minister of Steel, Shri Braja
Kishore Tripathy, who was reviewing today the performance of the
company during the first 3 quarters of this fiscal.
The Minister
was briefed that the company has produced more than 5 lakh tonnes
of manganese ore against a target of 4.96 lakh tonnes. It produced
4.7 lakh tonnes during the same period last year. Ferro Manganese
production has been 4311 tonnes, 116 per cent of the target. However,
there is a shortfall in the production of Electrolytic Manganese
Dioxide (EMD) which was 638 tonnes against a target of 735 tonnes.
The CMD, Shri D.K.Sahni briefed that this was due to frequent
load shedding by Maharastra State Electricity Board. Shri Sahni
said that the company introduced a Voluntary Retirement Scheme
in April 2002 to reduce manpower and 309 employees were given
voluntary retirement.
The Minister
stressed on minimising the power consumption level and reduction
of cost of production. As the demand is shifting from Ferro Manganese
to Silico Manganese the plant should take necessary steps for
diversification of products, he said. He asked the plant to assure
quality and consumer friendly services. The Minister was happy
to note that the company has been getting excellent rating for
the last 7 years and hoped that it would perform better in future.
