MIDHANI · Mishra Dhatu Nigam Ltd · Iron & Steel
MIDHANI · Mishra Dhatu Nigam Ltd · Iron & Steel
As of 05 Nov close
52-week range
19.9% below 52-week high
52-week range: as of 05 Nov 2026 close.
Price chartDaily closes on the stock page.
Weighted combination of 8 measured readings. Not a probability, a rating or a forecast.
Full signal detail →Fundamentals as of 15 Sep 2026 · the company's own latest record is 52 days old
Revenue (latest Q)
₹239 Cr
Revenue YoY
PAT YoY
+27.0%
Operating margin
Revenue, last 8 quarters
P/E (TTM)
P/B
5
P/S (TTM)
6.6
Sector P/E
17.3
Dividend yield
+0.5%
| Company | P/E | P/B | Net margin | ROE | D/E | Div. yield |
|---|---|---|---|---|---|---|
| MIDHANI (this stock) | 58.1 | 5 | +10.6% | +8.8% | 0.27 | +0.5% |
| JSW Steel | 12.1 | 3.1 | +13.1% | +24.8% | 1.19 | +0.6% |
| Lloyds Metals And Energy | 27.8 | 7.6 | +22.4% | +36.2% | 101.71 | +0.1% |
| Jindal Steel | 39.9 | 2.3 | +4.8% | +5.3% | 0.44 | +0.2% |
Promoter
stable
FII
rising 2q
MF
5.81% (-0.30pp)
falling 3q
Insider trades
No insider trades in the last 12 months.
Bulk/block deals
| canonicalSymbol | date | buy quantity | buyer count | deal strength | deal types present |
|---|---|---|---|---|---|
| MIDHANI | 2026-09-08 | 6351334 | 4 | WEAK | BULK |
| MIDHANI | 2026-08-13 | 1064722 | 1 | WEAK | BULK |
News timeline
- loweconomictimes.indiatimes.com· 06 Oct 2026, 06:14 pmSelf-reliance in aero-engines foundation of India's aerospace sovereignty: Rajnath Singh
- mediumcorporate actionbusiness-standard.com· 13 Aug 2026, 02:19 pmMIDHANI jumps 11% on securing prestigious S400 approval from GE Aerospace
Concalls & investor presentations
AI-generatedKey takeaway: Mishra Dhatu Nigam Limited (MIDHANI) reported Q1 FY27 results with a 40.46% year-on-year growth in turnover to Rs. 239.49 crore and a 7.9% increase in production value to Rs. 260.36 crore. Profit before tax (PBT) rose 25.89% to Rs. 23.92 crore, while profit after tax (PAT) increased 27.42% to Rs. 16.31 crore. EBITDA grew 12.89% to Rs. 46.6 crore. The order book stood at Rs. 2,329 crore as of July 1, 2026. Key developments included obtaining S400 certification from GE for material testing, progress on NAS410 and Nadcap certifications, and plans for ISO 27001 and ISO 50001 certifications. MIDHANI also rolled 7000-series aluminum alloy for a PSU, initiated isothermal forging for fighter aircraft programs, and tested ABHED bulletproof jackets. Management highlighted challenges from rising LPG and raw material costs, which compressed margins in Q1, but expects normalization by Q3. A Rs. 1,000 crore CapEx plan over three years aims to enhance production capacity and efficiency, though full benefits are expected after four to five years. Export goals include increasing turnover contribution to 10% and targeting 15-20% in the next three to four years. The company emphasized strategic focus on defense and aerospace sectors, leveraging government push for indigenization, and plans to expand into global OEMs like Rolls-Royce and Boeing after certification processes.
The document highlights strong financial performance, significant operational milestones, and strategic certifications, indicating a positive outlook.
Sourced from an exchange-filed transcript, dated 22 Aug 2026. Summary is RedixFi-generated and distinct from investment advice.
Key takeaway: Mishra Dhatu Nigam Limited (MIDHANI) reported its Q4 FY26 results during the earnings conference call held on June 3, 2026. Management highlighted a record quarterly turnover of INR 552.7 crores, a 34.63% increase year-over-year. The value of production also grew by 19.15% to INR 392.19 crores. Profit Before Tax (PBT) reached INR 107 crores, up 38.67%, while Profit After Tax (PAT) was INR 77.75 crores, reflecting a 38.49% increase. The company achieved an annual turnover of INR 1,208.63 crores, a 12.52% growth from the previous year. Key achievements included the highest ever Titanium production of 700 tons and the signing of an MOU for a metal bank to ensure raw material supply. Management also discussed advancements in aerospace materials and certifications, including NADCAP for heat treatment, which would facilitate direct procurement by OEMs. The order book stood at INR 2,290 crores as of April 1, 2026.
Management emphasized strong financial performance and significant achievements.
Sourced from an exchange-filed transcript, dated 06 Jun 2026. Summary is RedixFi-generated and distinct from investment advice.
Key takeaway: Mishra Dhatu Nigam Limited (MIDHANI) held its earnings conference call on February 17, 2026, to discuss its financial results for Q3 FY26. Management reported a turnover of INR 275.66 crores for the quarter, reflecting a 31.44% increase from the previous quarter. The value of production also rose by 18.6% to INR 304.05 crores. Profit before tax was INR 39 crores, and profit after tax reached INR 27.46 crores. The order book as of January 1, 2026, stood at INR 2,440 crores. Key achievements highlighted included the supply of titanium alloy windows for the Ram Janmabhoomi project and materials for the Presidential Dais at Republic Day. Management emphasized their readiness to meet aerospace material demands and mentioned ongoing certifications for super alloys and NADCAP. They also discussed plans for a metal bank to mitigate supply chain disruptions and the potential for future growth through capacity enhancements and new projects.
Management highlighted strong financial performance and significant achievements during the quarter.
Sourced from an exchange-filed transcript, dated 21 Feb 2026. Summary is RedixFi-generated and distinct from investment advice.
AI Summary of Annual Report
AI-generatedMishra Dhatu Nigam Limited (MIDHANI) reported its highest-ever Revenue from Operations with a 12.56% year-on-year growth in FY 2025-26. The company strengthened its technological leadership through the development of critical alloy grades and secured significant certifications such as NADCAP for Heat Treatment and Airworthiness Certificates for ten critical Aerospace-grade alloys. MIDHANI also established a Metal Bank for critical raw materials to insulate defense production from global supply chain disruptions. The company is recognized for its capabilities in producing advanced metallurgical materials and is involved in landmark national projects beyond traditional segments, including supplying armour-grade steel for the Presidential Dais and delivering Titanium for an architectural application in Ayodhya.
- Management reported record revenue growth with a 12.56% year-on-year increase in operations.
- Secured NADCAP certification and Airworthiness Certificates for critical aerospace alloys, enabling direct OEM access.
- Established a Metal Bank for critical raw materials to mitigate global supply chain risks.
- Capable of producing advanced metallurgical materials like cast superalloy single-crystal blade material and high-purity Titanium alloys.
- Involved in landmark national projects beyond defense and aerospace, including architectural applications.
Key takeaway: MIDHANI's strategic focus on technological leadership, certification acquisition, and securing critical raw materials positions it as a key player in India's defense and advanced manufacturing sectors.
The following annual report excerpts provide qualitative strategic context. Do not treat any specific financial figures in these excerpts as authoritative — they may be incorrectly labeled due to PDF table extraction limitations. For precise financial data, refer to the structured fundamentals data above.
Governance disclosures
AI-generatedNeeds attention
Regulatory Action (2 items)
Items of these kinds are disclosed in the filings. This is a count of disclosed items. It is not a finding about the company and its cause has not been independently established.
Regulatory Action
2 occurrencesRecent (last 12 months)
MIDHANI was non-compliant with Regulation 17 of SEBI Listing Regulations as of March 31, 2026, leading to penalties imposed by stock exchanges. The company has not paid any fine and has sought a waiver under the carve-out policy.
Earlier (1-3 years ago)
MIDHANI was non-compliant with SEBI Listing Regulations 17, 18, and 19 as of March 31, 2025, leading to penalties imposed by stock exchanges. The company has not paid any fines and has sought a waiver under NSE guidelines.
Routine disclosures
Internal Control Weakness
1 occurrenceRecent (last 12 months)
The auditor notes a significant deficiency in internal control related to the company's non-compliance with Regulation 17(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding the required composition of its Board of Directors.
Contingent Liability
2 occurrencesRecent (last 12 months)
AP Gas Power Corporation Limited (APGPCL) is involved in legal proceedings, arbitration matters, and claims with adverse arbitration awards and contingent liabilities expected to significantly impact its financial position.
Earlier (1-3 years ago)
The company has contingent liabilities including claims not acknowledged as debt, bank guarantees, letters of credit, and provisional liquidated damages on unexecuted customer orders with expired delivery dates as of 31st March, 2025.
Related-Party Transaction
2 occurrencesRecent (last 12 months)
MIDHANI's CSR activities include a related-party transaction where Rs. 59.62 lakh was contributed to MPHCC Trust for staff salaries related to a Primary Health Centre project.
Earlier (1-3 years ago)
MIDHANI under CSR has spent ₹122.34 lakh in F.Y. 2024-25, of which ₹52.33 lakh was contributed to MPHCC Trust for staff salaries, indicating a related-party transaction.