The share price of this metal manufacturing company fell by 5.1 Percent after the company’s net profit decreased by 58.54 percent in second-quarter results.
Mishra Dhatu Nigam Ltd is a small-cap company with a market capitalization of Rs 7,558.23 crores. The company shares were trading at Rs 390.30 a share, decreased by 4.61 percent from the previous close price of Rs 409.90 a share.
Looking into the company’s financials, Mishra Dhatu Nigam Ltd’s revenue increased by 20 percent on a quarter-on-quarter basis from Rs. 195.73 crores in Q1FY24 to Rs.235.05 crores in Q2 FY24. Further, revenue increased by 23.4 percent year on year from Rs. 190.36 crores in Q2FY23 to Rs.235.05 crores in Q2FY24.
Mishra Dhatu Nigam Ltd’s net profit decreased by 25.5 percent on a quarter-on-quarter basis from Rs. 18.71 crores in Q1FY24 to Rs.13.93 crores in Q2 FY24. Further, net profit decreased by 58.5 percent year on year from Rs. 33.60 crores in Q2FY23 to Rs.13.93 crores in Q2FY24.
The company reported return ratios in the recent financial year with a return on equity (ROE) of 12.63 percent and a return on capital employed (ROCE) of 15.58 percent.
As per the recent shareholding pattern, The Promoters of the Company own 74 percent while Retail shareholders own a 12.39 percent stake in the company and Foreign Institutional Investors own a 1.19 percent stake.
Mishra Dhatu Nigam Ltd stock gave a 90.03 percent return in six months and a 50.34 percent return in a year.
Mishra Dhatu Nigam Limited, also known as MIDHANI, is A Public Sector Undertaking (PSU) under the Ministry of Defence. The company manufactures Superalloys, Titanium alloys, and Special-purpose Steels required for strategic sectors like Aeronautics, Space, and Defence.
Written By:- Abhishek Singh
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