The Share’s of one of the leading manufacturers of Superalloy for defence sector rose 3.3 percent to an all-time high price of Rs 349.60 apiece on Tuesday’s intra-day trade after the company bagged a new order worth Rs 178.54 crore.
At 12:25 p.m., Mishra Dhatu Nigam Ltd (Midhani) shares were trading at Rs 344.85 a share on the National Stock Exchange, up Rs 7.70 or 2.28 percent and the company has a market capitalization of Rs 6,459 crores.
As per company’s exchange filing, Mishra Dhatu Nigam Limited has secured an order worth Rs. 178.54 Cr. With this, the order book position for FY 2023-24 (as on date) is Rs.542 Crore. The open order position of Midhani as on date is Rs.1622.5 crore.
In response to increased demand from the navy, space, missile, and export markets, the business is establishing a specialised titanium melting plant to produce an extra 500 Tons of titanium alloys and the company has increased its capacity for indigenous production of titanium sponge from 25 percent to 80 percent.
Company’s revenue increased by 1.3 percent year on year,from Rs 859 crore in FY 21-22 to Rs 871 crore in FY 22-23. Net profit declined by 12 percent within the same period, from Rs 176 crore to Rs 155 crore.
The company’s share price has raised from Rs 170.80 to Rs 342.30,yielding multibagger returns of 100 percent. As a result, if an investor bought 1 lakh company shares in the previous year, their holdings are now worth 2 lakhs!
As per current shareholding pattern,the promoters own 74 percent of the company, while domestic institutional investors own 13.11 percent and retail investors own 11.93 percent stake.
Mishra Dhatu Nigam Ltd (MIDHANI) is a Miniratna Category-I firm under the Ministry of Defence.It produces superalloys, titanium, special purpose steel, and other specialty metals for application in aerospace, defence, and nuclear energy.
Written by Omkar Chitnis
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