MIDHANI Secures ₹285 Crore Defence Order as FII Stake Increases

Mishra Dhatu Nigam Ltd (MIDHANI), a key player in the defence and aerospace sectors, has recently secured a substantial work order worth ₹285 crore. This order contributes to the company's robust open order book, which now stands at approximately ₹2,098 crore. The details of the client and specific order requirements remain undisclosed.

In today’s trading session, MIDHANI’s shares closed at ₹434.50 on the BSE, reflecting a market capitalization of ₹8,140 crore. The company's stock has demonstrated impressive growth, delivering over 120% returns over the past two years, highlighting its strong market performance.

For Q1 FY25, MIDHANI reported a revenue of ₹163.45 crore, a decline from the previous quarter's ₹187.72 crore. The operating profit for the quarter was ₹23.30 crore, while the net profit decreased to ₹5.11 crore from ₹18.54 crore in the same period last year. For FY24, MIDHANI achieved a revenue of ₹1,073 crore, with an operating profit of ₹194 crore and a net profit of ₹91 crore.

In recent shareholder updates, Foreign Institutional Investors (FIIs) have increased their stake in MIDHANI to 1.27% from 1.07%. Promoters retain a significant 55.50% stake, while public investors own 74%, and Domestic Institutional Investors (DIIs) hold 9.33%. This change reflects growing confidence from institutional investors in MIDHANI’s future prospects.

News by Rahul Yelligetti