Mishra Dhatu Nigam Ltd

Mishra Dhatu Nig Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Mishra Dhatu Nigam Ltd

₹ 432 1.53%
31 May - close price
midhani-india.in BSE: 541195 NSE: MIDHANI
About

Mishra Dhatu Nigam Ltd (MIDHANI) manufactures superalloys, titanium, special purpose steel and other special metals.[1]
It was incorporated in 1973 at Hyderabad as a Government of India Enterprise under the Ministry of Defence.[2] GoI still owns ~74% stake in the company after its IPO in 2018.[3]

Key Points

Company Overview
The company was set up by the Govt. with a view to achieve self-reliance in the production and supply of various super alloys, special steels, and soft magnetic alloys to Defence and other Strategic Sectors such as Energy, Space, and Aeronautical applications. It is the only manufacturer of Titanium alloys in India. [1]

Website BSE NSE
  • Market Cap ₹ 8,096 Cr.
  • Current Price ₹ 432
  • High / Low ₹ 548 / 229
  • Stock P/E 88.7
  • Book Value ₹ 70.4
  • Dividend Yield 0.78 %
  • ROCE 9.39 %
  • ROE 7.00 %
  • Face Value ₹ 10.0
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Pros

Cons

  • Stock is trading at 6.14 times its book value
  • The company has delivered a poor sales growth of 8.58% over past five years.
  • Company has a low return on equity of 11.5% over last 3 years.
  • Company might be capitalizing the interest cost

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Aerospace & Defence Industry: Steel - Medium / Small

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
346 114 188 234 323 115 181 231 345 188 227 252 406
243 89 136 171 201 82 122 166 244 146 191 216 325
Operating Profit 103 26 52 63 122 33 59 66 100 42 36 36 80
OPM % 30% 22% 28% 27% 38% 29% 32% 28% 29% 22% 16% 14% 20%
8 8 2 5 16 7 9 9 12 8 8 6 8
Interest 3 2 2 3 15 5 6 7 8 9 9 9 8
Depreciation 7 7 7 7 12 12 13 14 14 14 14 14 15
Profit before tax 102 25 45 58 110 23 49 54 90 27 21 19 65
Tax % 26% 25% 26% 26% 27% 24% 31% 28% 27% 31% 33% 34% 28%
75 19 34 43 81 18 34 38 66 19 14 12 46
EPS in Rs 3.98 1.00 1.80 2.29 4.32 0.94 1.79 2.06 3.53 0.99 0.74 0.67 2.48
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
363 555 647 716 773 662 711 713 813 859 872 1,073
309 448 518 565 587 470 526 514 567 596 613 879
Operating Profit 54 106 129 152 186 191 185 199 246 263 259 194
OPM % 15% 19% 20% 21% 24% 29% 26% 28% 30% 31% 30% 18%
19 26 23 29 23 36 37 36 20 31 38 30
Interest 2 5 8 5 5 9 7 7 13 23 27 35
Depreciation 3 6 10 14 18 20 23 26 27 33 53 59
Profit before tax 68 121 134 162 186 198 191 202 226 239 217 131
Tax % 34% 32% 26% 26% 32% 34% 32% 21% 26% 26% 28% 30%
45 82 99 119 126 131 131 160 166 176 156 91
EPS in Rs 304.91 440.16 529.31 637.18 674.23 7.01 6.97 8.53 8.88 9.41 8.32 4.87
Dividend Payout % 20% 45% 38% 28% 30% 30% 31% 30% 31% 33% -0% 29%
Compounded Sales Growth
10 Years: 7%
5 Years: 9%
3 Years: 10%
TTM: 23%
Compounded Profit Growth
10 Years: 1%
5 Years: -7%
3 Years: -18%
TTM: -41%
Stock Price CAGR
10 Years: %
5 Years: 27%
3 Years: 31%
1 Year: 88%
Return on Equity
10 Years: 15%
5 Years: 13%
3 Years: 12%
Last Year: 7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 146 187 187 187 187 187 187 187 187 187 187 187
Reserves 165 258 353 432 517 602 647 771 885 1,003 1,099 1,132
44 57 59 13 21 93 107 134 160 360 489 433
477 849 564 488 375 483 883 1,306 1,228 1,230 1,089 1,154
Total Liabilities 832 1,350 1,163 1,121 1,101 1,365 1,825 2,398 2,461 2,781 2,864 2,906
37 115 244 263 327 344 425 441 429 938 1,016 1,032
CWIP 16 118 9 7 6 65 175 405 549 132 80 83
Investments 2 2 2 2 2 2 2 22 22 22 22 22
778 1,115 907 849 765 954 1,223 1,530 1,461 1,688 1,746 1,769
Total Assets 832 1,350 1,163 1,121 1,101 1,365 1,825 2,398 2,461 2,781 2,864 2,906

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
119 20 296 204 176 5 -35
-65 -78 -205 -195 -115 -68 -3
-43 25 -78 -13 -37 39 43
Net Cash Flow 12 -33 13 -4 24 -24 4

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 108 160 124 106 136 228 181 152 173 130 132 110
Inventory Days 875 886 704 372 277 749 984 2,784 1,381 2,088 2,745 1,066
Days Payable 115 190 158 68 89 299 248 394 148 336 357 98
Cash Conversion Cycle 868 857 670 410 324 678 916 2,542 1,407 1,882 2,520 1,078
Working Capital Days 61 241 167 144 134 194 277 430 393 453 531 431
ROCE % 26% 27% 28% 25% 22% 21% 21% 19% 15%

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
74.00% 74.00% 74.00% 74.00% 74.00% 74.00% 74.00% 74.00% 74.00% 74.00% 74.00% 74.00%
0.24% 0.20% 0.25% 0.31% 0.51% 0.52% 0.52% 0.58% 0.95% 1.19% 0.96% 1.07%
14.19% 13.66% 14.27% 14.74% 14.59% 15.57% 13.76% 13.82% 13.11% 12.48% 11.84% 11.04%
11.57% 12.14% 11.48% 10.95% 10.91% 9.90% 11.71% 11.61% 11.93% 12.33% 13.20% 13.88%
No. of Shareholders 90,14693,75487,55386,50585,59978,81381,20182,46378,58893,6311,01,8081,23,007

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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