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Mishra Dhatu Nigam Limited

Mishra Dhatu Nigam Limited

MIDHANI.BO
Mishra Dhatu Nigam LimitedIN flagBombay Stock Exchange
416.95
INR
+6.15
- -
78.11BMarket Cap
Mishra Dhatu Nigam Limited
MIDHANI.BO
(Bombay Stock Exchange)

Recent

price

416.95

P/E

ratio

- -

div

yld

- -

ROIC.AI

2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
29.54
29.36
34.3
38.06
41.34
35.11
37.54
37.84
42.94
44.68
45.37
55.04
56.23
63.12
63.06
Revenue per Share
4.4
4.4
5.29
6.37
6.74
7.01
6.97
8.44
8.88
9.43
8.34
4.9
5.92
7.02
7.01
Basic EPS, GAAP
3.43
-1.97
0.85
9.92
1.99
-4.02
4.39
-3.59
0.89
-4.56
-5.78
7.28
7.97
5.62
- -
Free Cash Flow per Basic Share
2.27
2.3
2.38
2.15
2.27
2.43
4.56
1.82
2.76
3.14
3.22
3.08
0.75
0.85
- -
Dividend per Share
21.71
23.76
12.31
12.64
10.7
10.47
10.21
13.36
14.68
15.47
15.25
13.55
14.4
10
9.99
Book Value per Share
21.55
23.63
28.72
33
37.55
42.03
44.49
51.02
57.12
63.44
68.37
70.22
75.42
81.6
81.53
Tangible Book Value per Share
187
187
187
187
187
187
187
187
187
187
187
187
187
187
187
Basic Weighted Avg Shares
5,534
5,501
6,426
7,130
7,744
6,577
7,032
7,088
8,043
8,370
8,499
10,312
10,528
11,820
11,820
Sales/Revenue/Turnover
18.3
18.73
18.92
19.76
22.3
27.06
23.84
24.75
27.76
28
25.83
14.53
14.68
14.48
14.48
Operating Margin (%)
52
62
98
141
177
196
232
261
270
330
530
586
635
664
664
Depreciation Expense
825
825
992
1,194
1,263
1,313
1,306
1,581
1,664
1,766
1,563
918
1,108
1,315
1,315
Net Income, GAAP
29.94
32.09
25.99
26.24
32.22
33.79
31.66
21.13
26.43
26.23
27.97
30.19
29.32
28.85
28.85
Effective Tax Rate (%)
14.91
14.99
15.43
16.74
16.31
19.96
18.57
22.3
20.69
21.1
18.39
8.9
10.53
11.12
11.12
Profit Margin (%)
5,567
4,447
3,978
4,788
4,786
4,405
6,322
8,174
8,085
8,762
9,426
9,919
11,010
12,743
12,743
Working Capital
136
182
133
90
12
9
6
2
- -
1,075
1,487
1,401
1,197
993
993
LT Debt
4,068
4,451
5,401
6,197
7,043
7,890
8,347
9,568
10,711
11,895
12,854
13,192
14,150
15,308
15,308
Total Equity
- -
14.01
16.44
17.2
17.56
14.93
12.74
13.78
14.33
12.59
9.63
6.01
6.28
6.61
6.61
Return on Invested Capital (%)
- -
17.26
26.38
45.4
54.91
53.62
45.97
47.74
42.75
35.18
24.55
15.87
20.16
24.6
24.6
Return on Capital (%)
- -
19.36
29.35
51.07
57.77
66.19
67.39
71.6
63.35
62.53
54.29
34.02
42.34
57.54
57.54
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
2,288
- -
3,075
LT Borrowings
291
- -
191
LT Finance Leases
804
- -
803
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
187
- -
187
Market Capitalization
70,784
64,512
50,786

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
18,149
- -
21,153
Cash, Cash Equivalents & STI
368
- -
2,130
Accounts Receivable, Net
3,117
- -
5,542
Inventories
14,399
- -
13,326
Total Current Liabilities
6,929
- -
8,410
Payables & Accruals
- -
- -
- -
ST Debt
2,288
- -
3,075
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.52%
7.44%
8.19%
Free Cash Flow
-173.05%
-166.63%
-29.44%
Net Income, GAAP
2.83%
-1.46%
18.61%
Sales/Revenue/Turnover
5.6%
8.26%
12.28%
Total Cash Common Dividend
4.12%
-10.09%
13.26%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,820
2,230
2,331
3,931
10,312
2025
1,561
2,564
2,342
4,061
10,528
2026
1,686
2,078
2,745
5,312
11,820

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1
0.74
0.68
- -
4.9
2025
0.28
1.27
1.36
3
5.92
2026
0.69
0.69
1.48
4.16
7.02

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
3.08
2025
- -
- -
- -
- -
0.75
2026
- -
- -
- -
- -
0.85
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Business
Mishra Dhatu Nigam Limited Mishra Dhatu Nigam Limited (MIDHANI) manufactures superalloys, titanium alloys, special purpose steels, and other special metals and alloys for strategic sectors including defence, aerospace, space, atomic energy, power generation, and chemicals. The company produces nickel-base, iron-base, and cobalt-base superalloys; high-value special steels such as ultra high strength steel, armor grade plates, martensitic steel, austenitic steel, and precipitation hardening steel; varieties of titanium alloys including TITAN 26A and TITAN 29A for compressor discs, blades, and shafts; soft magnetic alloys; controlled-expansion alloys; electrical-resistance alloys; molybdenum products; welding consumables; fasteners; biomedical implants; and armour products like Rakshak bullet-proof jackets, Patka headbands, Bhabha Kavach panels, and vehicle armoring. MIDHANI offers metallurgical consultancy services encompassing failure analysis, material selection, and alloy design; customized forging, rolling, heat treatment, investment and sand casting; testing and evaluation including chemical, mechanical, non-destructive, and magnetic tests; and finished machined or fabricated products. Established in 1973 as a Government of India enterprise under the Ministry of Defence, with production commencing in 1982 at its headquarters and primary facility in Kanchanbagh, Hyderabad, Telangana, India, the company operates additional manufacturing sites including a Wide Plate Mill, Springs Project, and 4 MW solar power plant in Hyderabad; an armour facility in Rohtak, Haryana; and maintains a joint venture, Utkarsha Aluminium Dhatu Nigam Limited (UADNL) with National Aluminium Company Limited (NALCO) for high-end aluminum alloy production in Nellore, Andhra Pradesh. In recent developments, MIDHANI secured orders worth Rs 285 crore in August 2024 and Rs 136 crore additionally, elevating its total order book to over Rs 2,098 crore; signed a tripartite MoU with BEML and Bharat Electronics Limited for indigenous development of Advanced Fuelling and Control System for Engines; transferred technology from CSIR-NAL for nickel-titanium shape memory alloys targeting biomedical stents and engineering applications; supplied materials for Gaganyaan, Aditya-L1, and Chandrayaan-3 missions in 2023; and invested Rs 50 crore in capital expenditure during fiscal 2025 to enhance manufacturing capabilities.