MOIL's Q2FY25 revenue and EBITDA fell 16% and 18% year-on-year to Rs. 292 crore and Rs. 79 crore, respectively, due to an 18% decline in sales volume. The company has implemented recent price cuts amid a weak pricing outlook, leading to a downgrade to a Hold rating with a revised target price of Rs. 330. The stock currently trades at 6.6x/5.7x its FY26/27 EV/EBITDA, which is considered expensive compared to historical multiples.
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