MOIL Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

MOIL Ltd trades at ₹270, in a downtrend and 31 weeks into that stage. That is −14.0% against its own 200-day average. It sits at 7% of a 52-week range of ₹260 to ₹392. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (8 weeks and counting).

Today the stock is in a downtrend — week 31 of stage 4, confirmed. At ₹270 it trades −14.0% versus its 200-day average and sits at 7% of its 52-week range (₹260–₹392).

Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved +165% while the NIFTY 500 moved +274% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (8 weeks and counting; last ahead the week of 2026-06-12) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 72nd percentile of its own range.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

MOIL Ltd trades at 52.6× P/E, at the pricey end of its own range (72nd percentile). Its long-run median P/E is 35.2×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 52.6× is at the pricey end of its own range (72nd percentile), against a long-run median of 35.2× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

Why the multiple sits where it does: over the past year annual EPS moved −43.7% against a −29.4% price move — the price outran earnings, pushing the multiple UP its own range.

The price move, decomposed: over 5y, of the +7.4%/yr price move, ~+0.0%/yr came from earnings growth and ~+7.4 pp from the multiple (expanding); over 10y, of the +8.4%/yr price move, ~−10.1%/yr came from earnings growth and ~+18.5 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

MOIL Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 7 quarters across 1 curve, on partial evidence.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

4-Factor Sector Score

33.1/100 — rank 12 of 13 in Mining/Minerals · 77% evidence confidence

MOIL Ltd scores 33.1 out of 100 against the 13 companies it is compared with in Mining/Minerals, ranking 12. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 6.3 + 15.1 + 7.3 + 4.4 = 33.1. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

MOIL Ltd reported ₹268 Cr of revenue in the Dec 20 quarter, +4.7% year on year. That is the 2nd straight quarter of year-on-year growth. Over 5 years it has compounded at 4.7% a year. The last full year, FY20, came in at ₹1,034 Cr. The last four reported quarters add to ₹976 Cr.

MOIL Ltd reported ₹268 Cr of revenue in the Dec 20 quarter, +4.7% year on year. That is the 2nd straight quarter of year-on-year growth. Over 5 years it has compounded at 4.7% a year. The last full year, FY20, came in at ₹1,034 Cr. The last four reported quarters add to ₹976 Cr.

FY20 revenue came in at ₹1,034 Cr (−28.1% on the year), capping 5 years at 4.7% compound. The latest quarter (Dec 20) printed ₹268 Cr, +4.7% year on year — the 2nd consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged −15.7% growth against the decade's 4.7% — the current year is running slower than its own long-run rate.

→ Revenue grew — did margins hold as it scaled? Next: 28.0% this quarter (+6.0 pp YoY).

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

MOIL Ltd's operating margin is 28.0% in the Dec 20 quarter, +6.0 percentage points against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged 11.0% to 46.0%. The current quarter sits inside that band.

MOIL Ltd's operating margin is 28.0% in the Dec 20 quarter, +6.0 percentage points against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged 11.0% to 46.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 28.0%, +6.0 pp against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged 11.0%–46.0%.

Why the margin moved: operating margin went +6.8 pp year on year while gross margin went +4.4 pp — the gain came mostly from the gross line: input costs and pricing.

→ Margins held — did that reach the bottom line? Next: profit −7.3% in the latest quarter.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

MOIL Ltd earned ₹51.0 Cr of net profit in the Dec 20 quarter, −7.3% year on year. Full-year FY20 profit was ₹248 Cr. The 5-year compound rate is −10.3%. That is 19.0% of the quarter's revenue. The same quarter a year earlier earned ₹55.0 Cr.

MOIL Ltd earned ₹51.0 Cr of net profit in the Dec 20 quarter, −7.3% year on year. Full-year FY20 profit was ₹248 Cr. The 5-year compound rate is −10.3%. That is 19.0% of the quarter's revenue. The same quarter a year earlier earned ₹55.0 Cr.

Dec 20 profit was ₹51.0 Cr, −7.3% year on year. On the full year, FY20 printed ₹248 Cr (−48.1%), and the 5-year compound rate is −10.3%.

🚨 Why profit moved: revenue contributed +4.7% and the margin +6.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.

Pace comparison, last four quarters: profit −72.0% vs revenue −15.7%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.

→ Profit rose — but did the cash follow? Next: 88% of the last 3 years' profit arrived as cash.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 88% of MOIL Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY20 that was ₹58.0 Cr of operating cash against ₹248 Cr of profit. After ₹198 Cr of capital spending, ₹−140 Cr was left as free cash.

FY20: operating cash of ₹58.0 Cr against reported profit of ₹248 Cr, leaving free cash of ₹−140 Cr after ₹198 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 88% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

Why conversion sits at 88%: the cash cycle held roughly steady between FY15 and FY20 — so conversion tracks profitability rather than the cycle.

Router verdict: the bigger cash user is investment — capital spending ran 2.7× depreciation over three years, so the next section's job is to check what that build-out is buying.

→ So follow the cash to where it goes. Next: ₹612 Cr of building over 3 years.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

MOIL Ltd's cash conversion cycle runs 47 days in FY20, down from 48 days in FY15. Capital spending ran ₹612 Cr over the last 3 years. At FY20 sales of ₹1,034 Cr each day of that cycle holds about ₹2.8 Cr, so roughly ₹133 Cr sits inside the business at any moment.

FY20: debtors at 47 days (an asset-light business — no inventory to speak of) — for a full cycle of 47 days, tighter than FY15's 48.

In money terms: at FY20 sales of ₹1,034 Cr, each day of the cycle holds about ₹2.8 Cr — so the 47-day loop keeps roughly ₹133 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹612 Cr over the last 3 fiscal years against ₹225 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹242 Cr (FY20) — capacity paid for but not yet earning.

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 11% and the ROIC − WACC spread is −1.5 pp.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified

MOIL Ltd earns a ROCE of 11% in FY20. That is up from a trough of 8% in FY16. Return on invested capital clears the cost of that capital by −1.5 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 24.0% net margin on 0.31× asset turns.

FY20 ROCE is 11%, recovered from a FY16 trough of 8% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY20): 24.0% net margin × 0.31× asset turns × 1.19× balance-sheet leverage ≈ 8.9% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: 10.5% − 12.0% = a −1.5 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.00.

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

MOIL Ltd carries ₹0.0 Cr of borrowings against ₹2,763 Cr of equity in FY20, a debt-to-equity of 0.00. Over 5 years borrowings went from ₹0.0 Cr to ₹0.0 Cr. Capital spending ran ₹612 Cr across the last 3 of those years.

FY20: borrowings of ₹0.0 Cr against equity of ₹2,763 Cr — a debt-to-equity of 0.00. Over 5 years borrowings went from ₹0.0 Cr to ₹0.0 Cr while capital spending ran ₹612 Cr in just the last 3 — the build-out is being paid for out of cash, not debt.

→ Who owns this, and are they adding or leaving? Next: Domestic institutions cut 3.2 points over 8 quarters.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Domestic institutions cut 3.2 points of MOIL Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 6.8% of the company. Foreign institutions moved +0.3 points over the same window, to 3.7%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Domestic institutions: −3.2 points over 8 quarters to 6.8%; Foreign institutions: +0.3 points over 8 quarters to 3.7%; Promoters: +0.0 points over 8 quarters to 64.7%.

🚨 Why the register moved: domestic institutions drove it (−3.2 points) — distribution into the market’s bid.

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

MOIL Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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