Synopsis:
A small-cap company’s shares fell over 4 percent in today’s trading session after announcing Q2 results.
A small-cap company that manufactures superalloys, titanium, special purpose steel and other special metals, is in the spotlight today after posting Q2FY26 results. Read the article below for detailed insights into its performance.
With a market capitalization of Rs. 6,893.18 crore, the shares of Mishra Dhatu Nigam Limited were trading at Rs. 368.70, down by 3.61 percent from its previous closing price of Rs. 382.50. In today’s trading session it has touched an intraday low of Rs. 366.95, implying a downside of 4.07 percent from previous close price.
Q2FY26 Results
Mishra Dhatu Nigam Limited reported Rs. 209.73 crore in revenue for the second quarter of FY26, a 19.98 percent decrease over the Rs. 262.12 crore for the same period in FY25. It increased by 23.02 percent as compared to Rs. 170.5 crore in Q1 FY26.
The company’s EBITDA for Q2 FY26 stood at Rs. 32.75 crore, down by 4.15 percent from Rs. 34.17 crore in Q1 FY26, and fell by 33.1 percent from Rs. 48.96 crore in Q2 FY25.
The consolidated net profit for the second quarter of FY26 was Rs. 12.96 crore, which was flat as compared to Rs. 12.97 crore reported in the previous quarter and decreased by 45.6 percent from Rs. 23.82 crore in Q2 FY25. Profit decline was also reflected in earnings per share (EPS), which decreased to approximately Rs. 0.69 in Q2 FY26 from Rs. 1.27 in Q2 FY25.
The Value of Production (VoP) for the second quarter of FY 2025-26 stood at Rs. 256.38 crore, compared to Rs. 268.22 crore recorded in the same period of the previous year. As of 1st October, 2025, the company has an order book of Rs. 1,869 crore.
About the company
Mishra Dhatu Nigam Limited (MIDHANI), founded in 1973 and based in Hyderabad, manufactures advanced metals and alloys used in aerospace, defence, nuclear, power, and engineering industries. Its product range includes special steels, superalloys, titanium alloys, magnetic and expansion alloys, forgings, castings, wires, sheets, welding consumables, fasteners, biomedical implants, and armour products, serving both domestic and international markets.
A return on equity (ROE) of about 8.05 percent, a return on capital employed (ROCE) of about 10.6 percent and debt to equity ratio at 0.23 demonstrate the company’s financial position. At the moment, the company’s P/E ratio is 64.7x which is lower as compared to its industry P/E 67.7x.
Shareholding Pattern
As of September 2025, the company’s shareholding pattern shows that promoters hold 74 percent of the total equity, indicating strong promoter ownership. Foreign Institutional Investors (FIIs) hold 1.37 percent, while Domestic Institutional Investors (DIIs) own 8.83 percent. The public shareholding stands at 15.8 percent, reflecting a healthy level of retail participation in the company.
Written By Akshay Sanghavi
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