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

₹ 443 -0.09%
26 Apr 11:43 a.m.
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 ₹ 8,301 Cr.
  • Current Price ₹ 443
  • High / Low ₹ 548 / 199
  • Stock P/E 74.2
  • Book Value ₹ 70.4
  • Dividend Yield 0.75 %
  • ROCE 14.7 %
  • ROE 12.6 %
  • Face Value ₹ 10.0
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Pros

  • Company has been maintaining a healthy dividend payout of 34.8%

Cons

  • 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

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
190 346 114 188 234 323 115 181 231 345 188 227 252
104 243 89 136 171 201 82 122 166 244 146 191 216
Operating Profit 86 103 25 52 63 122 33 59 66 100 42 36 36
OPM % 45% 30% 22% 28% 27% 38% 29% 32% 28% 29% 22% 16% 14%
5 8 8 2 5 16 7 9 9 12 8 8 7
Interest 3 3 2 2 3 15 5 6 7 8 9 9 9
Depreciation 7 7 7 7 7 12 12 13 14 14 14 14 14
Profit before tax 81 102 25 46 58 111 23 49 54 91 27 21 19
Tax % 26% 26% 25% 26% 26% 27% 24% 31% 28% 27% 30% 33% 33%
60 75 19 34 43 81 18 34 39 66 19 14 13
EPS in Rs 3.21 3.99 1.00 1.81 2.29 4.33 0.95 1.79 2.06 3.54 1.00 0.74 0.68
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
711 713 813 859 872 1,012
526 515 567 596 613 798
Operating Profit 185 197 246 263 259 214
OPM % 26% 28% 30% 31% 30% 21%
37 36 20 32 38 35
Interest 7 7 13 23 27 34
Depreciation 23 26 27 33 53 57
Profit before tax 191 200 226 239 217 157
Tax % 32% 21% 26% 26% 28%
131 158 166 177 156 112
EPS in Rs 6.97 8.44 8.88 9.43 8.34 5.96
Dividend Payout % 31% 30% 31% 33% 40%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 7%
TTM: 19%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 0%
TTM: -35%
Stock Price CAGR
10 Years: %
5 Years: 27%
3 Years: 35%
1 Year: 122%
Return on Equity
10 Years: %
5 Years: %
3 Years: 15%
Last Year: 13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 187 187 187 187 187 187
Reserves 647 769 884 1,002 1,098 1,131
107 134 160 360 489 498
883 1,306 1,228 1,230 1,089 1,292
Total Liabilities 1,825 2,396 2,459 2,779 2,863 3,109
425 441 429 938 1,016 1,004
CWIP 175 405 549 132 80 88
Investments 2 20 21 21 21 22
1,223 1,530 1,461 1,688 1,746 1,995
Total Assets 1,825 2,396 2,459 2,779 2,863 3,109

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
296 204 176 5 -35
-205 -195 -115 -68 -3
-78 -13 -37 39 43
Net Cash Flow 13 -4 24 -24 4

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 181 152 173 130 132
Inventory Days 984 2,784 1,381 2,088 2,745
Days Payable 248 394 148 336 357
Cash Conversion Cycle 916 2,542 1,407 1,882 2,520
Working Capital Days 277 430 393 453 531
ROCE % 20% 21% 19% 15%

Shareholding Pattern

Numbers in percentages

3 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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