Mishra Dhatu Nigam Ltd (MIDHANI), a state-owned manufacturer of specialty metals and alloys, announced that it has secured a fresh order worth ₹136 crore, taking its open order book to around ₹1,983 crore. The development reinforces the company’s strong business momentum, particularly in the defense and aerospace segments.
Market Reaction
Following the announcement, shares of MIDHANI closed 1.74% higher at ₹407.50 on the NSE, reflecting optimism among investors about the company’s expanding order pipeline and financial performance.
Strong Q1FY26 Performance
The order win comes on the back of robust Q1 results for FY26:
- Profit After Tax (PAT): ₹12.96 crore, up 145% from ₹5.3 crore in Q1FY25.
- Revenue: ₹170.5 crore, up 4% from ₹163.5 crore in the year-ago quarter.
- EBITDA: ₹34.18 crore, up 46% from ₹23.35 crore.
- EBITDA Margin: 20.05%, an improvement from 14.28% last year.
- Finance Costs: Declined 10% to ₹6.17 crore.
- Other Income: ₹7.11 crore, slightly lower than ₹7.77 crore last year.
Outlook and Growth Drivers
Earlier this year, N. Gowri Sankara Rao, Chairman and Managing Director of MIDHANI, highlighted that the company expects higher production orders from Naval and Aerospace sectors in FY26, which could significantly boost turnover.
With the latest order win and a strong pipeline of defense-focused projects, MIDHANI is well-positioned to expand its role in India’s indigenization drive for critical materials and components.
Summary
- New order: ₹136 crore, raising the open order book to ₹1,983 crore.
- Stock impact: Shares rose 1.74% to ₹407.50 on NSE.
- Q1FY26 results: PAT up 145% YoY; revenue up 4%; EBITDA up 46%; margins expanded to 20.05%.
- Outlook: Growth to be driven by higher Naval and Aerospace orders.
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