Mishra Dhatu Nigam Ltd

About [ edit ]

Mishra Dhatu Nigam (MIDHANI) manufactures superalloys, titanium, special purpose steel and other special metals.

The company was established in the year 1973 under Ministry of Defence as Government of India Enterprise. MIDHANI was set up to achieve self-reliance in production and supply of various super alloys, special steels and niche materials used in sectors like defence, nuclear and aeronautics.

Key Points [ edit ]
  • Market Cap 3,828 Cr.
  • Current Price 204
  • High / Low 236 / 173
  • Stock P/E 29.0
  • Book Value 52.7
  • Dividend Yield 1.25 %
  • ROCE 20.4 %
  • ROE 17.6 %
  • Face Value 10.0

Pros

Cons

  • Company has high debtors of 152.27 days.

Peer comparison

Sector: Steel Industry: Steel - Medium / Small

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
132 170 207 204 114 164 190
95 119 150 154 108 114 104
Operating Profit 37 52 57 50 6 50 86
OPM % 28% 30% 28% 25% 5% 30% 45%
Other Income 6 6 9 14 4 4 4
Interest 2 1 1 2 3 3 3
Depreciation 6 6 7 7 7 7 7
Profit before tax 36 51 58 56 -0 44 81
Tax % 36% 32% -4% 28% -109% 27% 26%
Net Profit 23 35 60 40 -1 33 60
EPS in Rs 1.23 1.84 3.23 2.14 -0.05 1.74 3.21

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 TTM
711 713 671
526 515 479
Operating Profit 185 197 192
OPM % 26% 28% 29%
Other Income 37 36 26
Interest 7 7 11
Depreciation 23 26 27
Profit before tax 191 200 180
Tax % 32% 21%
Net Profit 131 158 132
EPS in Rs 6.97 8.44 7.04
Dividend Payout % 31% 30%
Compounded Sales Growth
10 Years:%
5 Years:%
3 Years:%
TTM:0%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:21%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:12%
1 Year:-2%
Return on Equity
10 Years:%
5 Years:%
3 Years:%
Last Year:18%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Sep 2020
187 187 187
Reserves 647 769 800
Borrowings 107 134 150
883 1,306 1,280
Total Liabilities 1,825 2,396 2,418
425 441 432
CWIP 175 405 443
Investments 2 20 20
1,223 1,530 1,522
Total Assets 1,825 2,396 2,418

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020
296 204
-205 -195
-78 -13
Net Cash Flow 13 -4

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020
ROCE % 20%
Debtor Days 181 152
Inventory Turnover 0.26

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
74.00 74.00 74.00 74.00 74.00 74.00 74.00 74.00 74.00 74.00 74.00 74.00
0.01 0.17 0.18 0.51 0.58 0.58 0.59 0.72 0.83 0.65 0.52 0.44
19.23 19.12 19.43 19.50 19.52 19.48 18.58 18.78 17.06 16.59 16.76 14.19
6.76 6.71 6.39 5.99 5.90 5.94 6.83 6.50 8.11 8.76 8.72 11.37

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