Mishra Dhatu Nigam Ltd
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]
- Market Cap ₹ 7,209 Cr.
- Current Price ₹ 385
- High / Low ₹ 483 / 217
- Stock P/E 65.5
- Book Value ₹ 75.5
- Dividend Yield 0.37 %
- ROCE 10.6 %
- ROE 8.05 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 5.10 times its book value
- The company has delivered a poor sales growth of 8.54% over past five years.
- Company has a low return on equity of 9.14% over last 3 years.
* 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
Industrials Capital Goods Aerospace & Defense Aerospace & Defense
Part of BSE SmallCap BSE CPSE BSE Allcap BSE Industrials Nifty Microcap 250
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
555 | 647 | 716 | 773 | 662 | 711 | 713 | 813 | 859 | 872 | 1,073 | 1,074 | |
448 | 518 | 565 | 587 | 470 | 526 | 514 | 567 | 596 | 613 | 878 | 856 | |
Operating Profit | 106 | 129 | 152 | 186 | 191 | 185 | 199 | 246 | 263 | 259 | 195 | 218 |
OPM % | 19% | 20% | 21% | 24% | 29% | 26% | 28% | 30% | 31% | 30% | 18% | 20% |
26 | 23 | 29 | 23 | 36 | 37 | 36 | 20 | 31 | 38 | 30 | 31 | |
Interest | 5 | 8 | 5 | 5 | 9 | 7 | 7 | 13 | 23 | 27 | 35 | 29 |
Depreciation | 6 | 10 | 14 | 18 | 20 | 23 | 26 | 27 | 33 | 53 | 59 | 63 |
Profit before tax | 121 | 134 | 162 | 186 | 198 | 191 | 202 | 226 | 239 | 217 | 131 | 156 |
Tax % | 32% | 26% | 26% | 32% | 34% | 32% | 21% | 26% | 26% | 28% | 30% | 29% |
82 | 99 | 119 | 126 | 131 | 131 | 160 | 166 | 176 | 156 | 91 | 110 | |
EPS in Rs | 440.16 | 529.31 | 637.18 | 674.23 | 7.01 | 6.97 | 8.53 | 8.88 | 9.41 | 8.32 | 4.87 | 5.88 |
Dividend Payout % | 45% | 38% | 28% | 30% | 30% | 31% | 30% | 31% | 33% | 40% | 29% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | 5% |
5 Years: | 9% |
3 Years: | 8% |
TTM: | 0% |
Compounded Profit Growth | |
---|---|
10 Years: | 1% |
5 Years: | -7% |
3 Years: | -15% |
TTM: | 21% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 14% |
3 Years: | 31% |
1 Year: | -20% |
Return on Equity | |
---|---|
10 Years: | 14% |
5 Years: | 12% |
3 Years: | 9% |
Last Year: | 8% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 187 | 187 | 187 | 187 | 187 | 187 | 187 | 187 | 187 | 187 | 187 | 187 |
Reserves | 258 | 353 | 432 | 517 | 602 | 647 | 771 | 885 | 1,003 | 1,099 | 1,132 | 1,227 |
57 | 59 | 13 | 21 | 93 | 107 | 134 | 160 | 360 | 489 | 433 | 350 | |
849 | 564 | 488 | 375 | 483 | 883 | 1,306 | 1,228 | 1,230 | 1,089 | 1,154 | 1,150 | |
Total Liabilities | 1,350 | 1,163 | 1,121 | 1,101 | 1,365 | 1,825 | 2,398 | 2,461 | 2,781 | 2,864 | 2,906 | 2,914 |
115 | 244 | 263 | 327 | 344 | 425 | 441 | 429 | 938 | 1,016 | 1,032 | 1,074 | |
CWIP | 118 | 9 | 7 | 6 | 65 | 175 | 405 | 549 | 132 | 80 | 83 | 25 |
Investments | 2 | 2 | 2 | 2 | 2 | 2 | 22 | 22 | 22 | 22 | 22 | 25 |
1,115 | 907 | 849 | 765 | 954 | 1,223 | 1,530 | 1,461 | 1,688 | 1,746 | 1,769 | 1,790 | |
Total Assets | 1,350 | 1,163 | 1,121 | 1,101 | 1,365 | 1,825 | 2,398 | 2,461 | 2,781 | 2,864 | 2,906 | 2,914 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
119 | 20 | 296 | 204 | 176 | 5 | -35 | 216 | 217 | ||||
-65 | -78 | -205 | -195 | -115 | -68 | -3 | -65 | -96 | ||||
-43 | 25 | -78 | -13 | -37 | 39 | 43 | -148 | -126 | ||||
Net Cash Flow | 12 | -33 | 13 | -4 | 24 | -24 | 4 | 2 | -6 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 160 | 124 | 106 | 136 | 228 | 181 | 152 | 173 | 130 | 132 | 110 | 139 |
Inventory Days | 886 | 704 | 372 | 277 | 749 | 984 | 2,784 | 1,381 | 2,088 | 1,086 | ||
Days Payable | 190 | 158 | 68 | 89 | 299 | 248 | 394 | 148 | 336 | 79 | ||
Cash Conversion Cycle | 857 | 670 | 410 | 324 | 678 | 916 | 2,542 | 1,407 | 1,882 | 132 | 110 | 1,146 |
Working Capital Days | 223 | 144 | 144 | 128 | 144 | 223 | 362 | 321 | 346 | 389 | 332 | 357 |
ROCE % | 26% | 27% | 28% | 25% | 22% | 21% | 21% | 19% | 15% | 9% | 11% |
Documents
Announcements
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Board Meeting Intimation for Intimation Of Board Meeting
1d - Board meeting on Aug 13 to approve Q1 FY26 results; trading window closed till 48 hours post results.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
28 Jul - Newspaper Publication of Notice for the attention of the Equity Shareholders of the Company regarding Transfer of Equity shares of the Company to Investor Education …
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Announcement under Regulation 30 (LODR)-Change in Directorate
21 Jul - Ms. Madhubala Kalluri appointed Director (Finance) at MIDHANI effective July 21, 2025 till August 31, 2027.
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Intimation Regarding Appointment Of Director (Finance)
17 Jul - Appointment of Ms. Madhubala Kalluri as Director (Finance) effective July 17, 2025, till August 31, 2027.
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 8 Jul
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Concalls
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Jun 2025TranscriptPPTREC
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Feb 2025TranscriptPPTREC
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Nov 2024TranscriptPPTREC
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Aug 2024TranscriptPPT
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Jun 2024TranscriptPPT
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Mar 2024TranscriptPPT
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Nov 2023TranscriptPPT
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Aug 2023TranscriptPPT
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Feb 2023TranscriptPPT
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Nov 2022TranscriptPPT
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Aug 2022TranscriptPPT
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Jun 2022TranscriptPPT
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Dec 2020TranscriptNotesPPT
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Aug 2019TranscriptNotesPPT
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May 2019TranscriptNotesPPT
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]