Mishra Dhatu Nigam (MIDHANI) – Updates
Update
“Secured an Order”
Midhani up more than 5 per cent today on the back of winning a new order. Read details –
Mishra Dhatu Nigam Ltd (MIDHANI) – A Govt. of India Enterprises – in its BSE filling has said that the company has secured an order worth of INR 185 Cr.
After winning this order, the order booking position of the company for FY 2022-23 (as on date) is around INR 470 Cr.
The open order position of MIDHANI as on date is around INR 1,535 Cr.
Currently the stock is trading above its important short and long term moving averages.
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01 November 2019
Update:
Q2 Numbers FY 2019-20
Mishra Dhatu Nigam Limited, popularly known as MIDHANI has posted its Q2 FY18-19 numbers today during the market hours. Here are key points.
Stabilisation of 1500T Forge press and other recent capital investments coupled with a healthy order booking, particularly from space sector, has enabled the Mini-Ratna Defence PSU Mishra Dhatu Nigam Limited to achieve a Net Turnover of INR 170.21 Cr during the 2nd quarter of FY 2019-20 registering a growth of about 48 percent compared to INR 115.17 Cr during the corresponding period of the previous year. Q-O-Q turnover grew by 28.8%
Profit Before Tax (PBT) during the 2nd quarter of FY 2019-20 stood at INR 51.98 Cr, registering a growth of about 62 percent over the PBT of INr 32.11 Cr recorded in the corresponding period of the previous year.
Profit After Tax (PAT) during the 2nd quarter of FY 2019-20 stood at INR 35.85 Cr, registering a growth of about 75 percent over the Profit After Tax of INR 20.54 Cr recorded in the corresponding period of the previous year. Quarter-On-Quarter PAT grew by 55.88%
The order book position of the company as on lst October 2019 stood at INR 1776 Cr.
The stock up more than 11.50% to INR 162.55 when the market closed.
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20 March 2018
Mishra Dhatu Nigam Limited (MIDHANI) – A Govt. of India Enterprises – set up with an aim to providing the nation self-reliance in strategic materials – is planning to raise INR 443.38 Cr (all OFS) via initial public offer (IPO)
Mishra Dhatu Nigam Limited – Company Profile
- Incorporated in the year 1973, Mishra Dhatu Nigam Limited (MIDHANI) is a Hyderabad based PSU (Public Sector Undertaking) engaged in the business of manufacturing of (1) Special steels, (2) Super alloys and (3) Titanium alloys in India. These are high value products which cater to niche end user segments such as Aeronautics, Defence, Engineering & Chemical Industries, Nuclear, Space, and Power.
- MIDHANI has been handling challenging tasks of developing alloys, taking a lead position in indigenization of critical technologies and products to render support to several programmes of National importance and hi-tech segments of India industry.
- The company has the technological ability to manufacture a wide range of advanced metals and alloys under one roof.
MIDHANI – Product Profile
- Superalloys find extensive application in aeronautics, space, nuclear, chemical, and petrochemical, power generation and furnace industries, where extreme temperatures, mechanical stresses and corrosive environments are encountered.
- Titanium Alloys: Titanium by virtue of its excellent corrosion resistance and high strength-to-weight ratio finds application in the aerospace, chemical, petrochemical, marine, paper and pulp, textile, food and dairy industries and in prosthetics.
- Martensitic Steels, High Strength Special Steel, Austennitic Steels, Percipitation Hardening Steels: These special steels have improved mechanical properties and better workability which are essential for special applications in aerospace, power generation, nuclear, defence, cryogenic and other general engineering industries. These include precipitation hardening steels, non-magnetic austenitic and martensitic stainless steels.
- Other Products: Molybdenum, Special Weld Consumables, Magnesium Alloys, Titanium Tubes, Fastners (Titanium, Superalloys, Special Steels), Ttianium Castings (Investment, Sand Casting), Columbium Alloy
- Electrical & Electronic Alloys
Company Promoters
The Promoter of the company is the President of India acting through the Ministry of Defence.
IPO Opening / Closing Date
IPO Details – Price, Minimum Bid and Other
Financial Performance
Revenue
Mishra Dhatu Nigam Limited shows steady revenue growth in recent years. Top-line has been increasing regularly for the last 3 years and jumped from INR 678 Cr in FY 2015 to INR 833 Cr for the period ended FY 2017. (INR 221 Cr till Sept 2017)
Profits
Though the company has shown steady growth in revenue, the company has also registered growth in profits in these 3 years. Starting from INR 99.16 Cr of profits in FY2015, the company’s earnings improved to INR 126.13 Cr for the period ended FY 2017. (INR 27.3 Cr till Sept 2017)
CONCLUSION –
Considering company’s valuation, financial parameters, and the sector potential in which it is operating, FinBlab recommends SUBSCRIBE ratings on Mishra Dhatu Nigam Limited IPO (keeping a long-term view in mind)
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