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 ₹ 7,386 Cr.
- Current Price ₹ 394
- High / Low ₹ 548 / 182
- Stock P/E 66.6
- Book Value ₹ 70.4
- Dividend Yield 0.85 %
- ROCE 14.6 %
- ROE 12.6 %
- Face Value ₹ 10.0
Pros
Cons
- The company has delivered a poor sales growth of 5.67% over past five 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
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
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 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
363 | 555 | 647 | 716 | 773 | 662 | 711 | 713 | 813 | 859 | 872 | 1,012 | |
309 | 448 | 518 | 565 | 587 | 470 | 526 | 514 | 567 | 596 | 613 | 798 | |
Operating Profit | 54 | 106 | 129 | 152 | 186 | 191 | 185 | 199 | 246 | 263 | 259 | 214 |
OPM % | 15% | 19% | 20% | 21% | 24% | 29% | 26% | 28% | 30% | 31% | 30% | 21% |
19 | 26 | 23 | 29 | 23 | 36 | 37 | 36 | 20 | 31 | 38 | 34 | |
Interest | 2 | 5 | 8 | 5 | 5 | 9 | 7 | 7 | 13 | 23 | 27 | 34 |
Depreciation | 3 | 6 | 10 | 14 | 18 | 20 | 23 | 26 | 27 | 33 | 53 | 57 |
Profit before tax | 68 | 121 | 134 | 162 | 186 | 198 | 191 | 202 | 226 | 239 | 217 | 157 |
Tax % | 34% | 32% | 26% | 26% | 32% | 34% | 32% | 21% | 26% | 26% | 28% | |
45 | 82 | 99 | 119 | 126 | 131 | 131 | 160 | 166 | 176 | 156 | 111 | |
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 | 5.93 |
Dividend Payout % | 20% | 45% | 38% | 28% | 30% | 30% | 31% | 30% | 31% | 33% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 6% |
3 Years: | 7% |
TTM: | 19% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 4% |
3 Years: | -1% |
TTM: | -35% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 23% |
3 Years: | 31% |
1 Year: | 117% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 15% |
3 Years: | 15% |
Last Year: | 13% |
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 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
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 | 498 | |
477 | 849 | 564 | 488 | 375 | 483 | 883 | 1,306 | 1,228 | 1,230 | 1,089 | 1,292 | |
Total Liabilities | 832 | 1,350 | 1,163 | 1,121 | 1,101 | 1,365 | 1,825 | 2,398 | 2,461 | 2,781 | 2,864 | 3,109 |
37 | 115 | 244 | 263 | 327 | 344 | 425 | 441 | 429 | 938 | 1,016 | 1,004 | |
CWIP | 16 | 118 | 9 | 7 | 6 | 65 | 175 | 405 | 549 | 132 | 80 | 88 |
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 | 1,995 | |
Total Assets | 832 | 1,350 | 1,163 | 1,121 | 1,101 | 1,365 | 1,825 | 2,398 | 2,461 | 2,781 | 2,864 | 3,109 |
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 108 | 160 | 124 | 106 | 136 | 228 | 181 | 152 | 173 | 130 | 132 |
Inventory Days | 875 | 886 | 704 | 372 | 277 | 749 | 984 | 2,784 | 1,381 | 2,088 | 2,745 |
Days Payable | 115 | 190 | 158 | 68 | 89 | 299 | 248 | 394 | 148 | 336 | 357 |
Cash Conversion Cycle | 868 | 857 | 670 | 410 | 324 | 678 | 916 | 2,542 | 1,407 | 1,882 | 2,520 |
Working Capital Days | 61 | 241 | 167 | 144 | 134 | 194 | 277 | 430 | 393 | 453 | 531 |
ROCE % | 26% | 27% | 28% | 25% | 22% | 21% | 21% | 19% | 15% |
Documents
Announcements
- Closure of Trading Window 1d
- Announcement under Regulation 30 (LODR)-Dividend Updates 14 Mar
- Board Meeting Outcome for The Board Of The Company At Its Meeting Held Today, I.E. 14Th March, 2024 Has Inter-Alia Approved Declaration Of Interim Dividend Rs. 1.41/- Per Equity Share (@14.10%) Of Rs. 10/- Each For The Financial Year 2023-24 14 Mar
- Record Date For Entitlement For Interim Dividend, If Declared By The Company Will Be Friday, The 22Nd March, 2024. 6 Mar
- Closure of Trading Window 6 Mar
Annual reports
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from bse
-
Financial Year 2012
from bse
-
Financial Year 2011
from bse
-
Financial Year 2010
from bse
Concalls
-
Mar 2024TranscriptPPT
-
Nov 2023TranscriptPPT
-
Aug 2023TranscriptPPT
-
Jun 2023TranscriptPPT
-
Feb 2023TranscriptPPT
-
Nov 2022TranscriptPPT
-
Aug 2022TranscriptPPT
-
Jun 2022TranscriptPPT
-
Dec 2020TranscriptNotesPPT
-
Aug 2019TranscriptNotesPPT
-
May 2019TranscriptNotesPPT
Product Portfolio
The company's product portfolio includes high-value special steels like Ultra high strength steel, armour-grade plates, martensitic steel, austenitic steel and precipitation hardening steel, superalloys (nickel base, iron base, and cobalt base) and varieties of titanium alloys. It is the only manufacturer of titanium alloys in India. [1]